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Category: Agriculture

  • MIL-OSI USA: Warner & Kaine Demand Hold on Vought Nomination to OMB Amid Order to Halt Federal Grants and Loans

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine
    WASHINGTON, D.C. – Today, U.S. Senators Mark R. Warner and Tim Kaine (both D-VA), members of the Senate Budget Committee, joined Budget Committee Ranking Member Jeff Merkley (D-OR),  Democratic Leader Chuck Schumer (D-NY), and Democratic Budget Committee members in demanding that Committee Chairman Lindsey Graham (R-SC) postpone a vote on Russell Vought’s nomination to serve as Director of Office of Management and Budget (OMB) until he answers questions regarding his role in the illegal freeze of many federal grants and loans that have already been appropriated by Congress. The freeze has sowed confusion among federal agencies. Since the Trump Administration announced this freeze, the senators have heard concerns from across Virginia—including community health centers, child care centers, community organizations, and more—about how they could be impacted. The Administration’s broad directive has left many Virginians wondering about whether federal support for health care, housing, substance use, transportation, and other critical programs will continue. 
    “While Mr. Vought stonewalled Committee members, he was already planning on halting programs that feed hungry children, heat the homes of low-income families, support farmers, and bring relief to those suffering from natural disasters. The laws Congress passes are not suggestions, and Mr. Vought willfully ignoring them harms the constituents of every Member of the Committee,” the senators wrote.
    The senators continued, “It is simply unconscionable that the Budget Committee could vote to confirm Mr. Vought to be Director of Office of Management and Budget without getting some real answers from him about his ongoing efforts to stymie the will of Congress. Mr. Vought is a clear and present danger to Congress’s Power of the Purse; his outright refusal to discuss his plans that were already in development is a slap in the face to every Member of the Committee, Democrat and Republican alike.”
    Last week, Warner and Kaine questioned Mr. Vought during his Budget Committee nomination hearing regarding Vought’s comments to “traumatize the federal workforce” and plans to slash critical federal funding for programs like SNAP.
    In addition to Warner, Kaine, Merkley, and Schumer, the letter was signed by U.S. Senators Patty Murray (D-WA), Ron Wyden (D-OR), Bernie Sanders (I-VT), Sheldon Whitehouse (D-RI), Chris Van Hollen (D-MD), Ben Ray Luján (D-NM), and Alex Padilla (D-CA).
    The full text of the letter is available here and below.
    Dear Senator Graham:
    During the Budget Committee’s hearing on Wednesday, January 22 to examine the nomination of Russell T. Vought to serve as the Director of Office of Management and Budget, Mr. Vought was repeatedly evasive about whether, if confirmed, he would advise the President to impound Congressionally-appropriated funds in clear violation of Article II of the Constitution and the unambiguous text of the Impoundment Control Act of 1974.
    In written responses to questions following the hearing, Mr. Vought continued his refusal to answer direct questions about how executive orders to pause foreign aid funding, as well as funding authorized and appropriated by the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, complied with the law.
    Now, less than a week after the hearing, it is clear that Mr. Vought’s non-answers were an effort to thwart the Committee from getting the truth of the Trump administration’s plan, per OMB memorandum M-25-13, to freeze all funding for “Federal financial assistance programs.” While Mr. Vought stonewalled Committee members, he was already planning on halting programs that feed hungry children, heat the homes of low-income families, support farmers, and bring relief to those suffering from natural disasters. The laws Congress passes are not suggestions, and Mr. Vought willfully ignoring them harms the constituents of every Member of the Committee.
    It is simply unconscionable that the Budget Committee could vote to confirm Mr. Vought to be Director of Office of Management and Budget without getting some real answers from him about his ongoing efforts to stymie the will of Congress. Mr. Vought is a clear and present danger to Congress’s Power of the Purse; his outright refusal to discuss his plans that were already in development is a slap in the face to every Member of the Committee, Democrat and Republican alike.
    For those reasons, we request that the business meeting to consider Mr. Vought’s nomination, currently scheduled for Thursday, January 30, be postponed for two weeks so the Committee may get full responses to the questions Mr. Vought has thus far refused to answer. 
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville: Allowing Child Mutilation is “Pure Insanity”

    US Senate News:

    Source: United States Senator for Alabama Tommy Tuberville
    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) issued the following statement in support of President Donald Trump’s executive order ending the chemical and surgical mutilation of children:
    “We all know by now that so-called ‘gender-affirming care’ is anything but caring. There’s a reason it’s illegal for kids to buy alcohol, a lottery ticket, or join the military. Allowing our young people whose brains aren’t fully developed to undergo a life-altering, irreversible procedure is pure insanity. This isn’t about politics—this is about good and evil. I’m thankful for President Trump’s commonsense leadership to end this barbaric practice in our country once and for all.” 
    MORE:
     ICYMI: Tuberville Joins Roundtable on Protecting Children and Women’s Sports
    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: U.S. Rep. Nanette Barragán Joins Federal Home Loan Bank of San Francisco to Address Affordable Housing Crisis in Southern California

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Jan. 28, 2025 (GLOBE NEWSWIRE) — Committed to prioritizing solutions for the affordable housing crisis in Southern California, U.S. Rep. Nanette Barragán, (CA-44) hosted a roundtable discussion with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today at The Enclave in Torrance, California. The roundtable brought together affordable housing leaders, community organizations, financial institutions, and other stakeholders throughout the area to discuss how organizations and public-private partnerships could play a pivotal role in solving the housing crisis in Southern California after tens of thousands were displaced by the recent wildfires in the region.

    “Many families in my district, and across Los Angeles County, struggle to afford housing,” said Rep. Nanette Barragán. “This roundtable brings together key partners to explore solutions to increase housing supply, reduce costs, and expand opportunities for homeownership. Together, we can make real progress for our communities.”

    Rep. Barragán has a history of leading on issues related to affordable housing and has secured millions in federal funding for local projects that support affordable housing development, advance homeownership for first time homebuyers and expand supportive housing options. By teaming up with FHLBank San Francisco and its members, she is working to find local solutions to the housing crisis.

    “This roundtable comes at a critical moment for our district, as many families and individuals have been displaced by the devastating wildfires in Los Angeles. We are proud to partner with Representative Barragán, a dedicated leader and tireless advocate for addressing the housing crisis in Southern California,” said Alanna McCargo, president and chief executive officer of FHLBank San Francisco. “Collaboration is essential to develop innovative solutions that improve affordability, expand housing supply and support the rebuilding of communities impacted by these wildfires. Our Bank is a valuable and trusted community partner that can leverage an extensive network of member financial institutions to help turn these ideas into action.”

    In 2024, FHLBank San Francisco awarded $6.75 million in Affordable Housing Program (AHP) grants to support a range of projects in Los Angeles. Statewide, more than $49 million in AHP grants were awarded through its member financial institutions to help address and expedite solutions to California’s affordable housing crisis.

    Attendees at the roundtable included:

    • Dora Leong Gall, A Community of Friends
    • Holly Benson, Adobe communities
    • Andrea Parker, Farmers and Merchants bank
    • Jeremy Empol, FHLBank San Francisco
    • Anabel Cuevas, FHLBank San Francisco
    • Darrell Simien, Habitat for Humanity LA
    • Laura Archuleta, Jamboree
    • Suny Lay Chang, LINC Housing
    • Michael Ruane, National CORE
    • Gerald Phillips, Neighborhood Housing Services of Los Angeles County
    • Patricia Valladolid, One San Pedro/Century Housing
    • Michael Faulwell, SchoolsFirst FCU
    • Brent Terecero, SchoolsFirst FCU

    FHLBank San Francisco is dedicated to supporting housing initiatives throughout its three-state region, including Arizona, California, and Nevada. Since the Affordable Housing Program (AHP) was created in 1990, FHLBank San Francisco has awarded over $1.35 billion in AHP grants to support the construction, rehabilitation, or purchase of over 154,600 homes affordable to lower-income households, including $61.8 million in 2024 alone. Together, the 11 regional FHLBanks that make up the Federal Home Loan Bank System are one of the largest privately capitalized sources of grant funding for affordable housing in the United States.

    About the Federal Home Loan Bank of San Francisco

    The Federal Home Loan Bank of San Francisco is a member-owned cooperative supporting local lenders in Arizona, California, and Nevada to build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

    Contact:
    Tom Flannigan
    tom.flannigan@fhlbsf.com
    415-616-2695

    The MIL Network –

  • MIL-OSI China: Shenzhen, Hong Kong jointly conserve mangrove wetlands

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

    SHENZHEN/HONG KONG, Jan. 28 — In the heart of the Guangdong-Hong Kong-Macao Greater Bay Area, the Guangdong Neilingding Futian National Nature Reserve in Shenzhen and the Mai Po Nature Reserve in Hong Kong are jointly safeguarding a vibrant expanse of mangrove wetlands.

    These wetlands are ecologically linked and integral parts of the Shenzhen Bay (Deep Bay) wetland ecosystem, which serves as an internationally important overwintering site and a refueling station for waterbirds on the East Asian-Australasian Flyway.

    In February 2023, Shenzhen’s Futian mangrove was designated as Wetlands of International Importance under the Ramsar Convention on Wetlands. Together with the wetlands in Mai Po Nature Reserve, Shenzhen Bay now hosts two internationally recognized wetlands of significance.

    “Mangroves are unique and complex ecosystems, often difficult for humans to access. Their dense canopy provides birds with quiet, undisturbed nesting areas, making them vital for wildlife conservation,” said Simon Wong, nature officer (management) at the Agriculture, Fisheries & Conservation Department (AFCD), Hong Kong Special Administrative Region (HKSAR) government.

    Moreover, mangroves protect coastlines from erosion caused by waves, while the mudflats they create harbor countless species and provide feeding and resting areas for migratory waterbirds, benefiting surrounding regions and other habitats, he added.

    According to Wong, mangroves and their soil have a high capacity for carbon sequestration through microbial activity, helping reduce atmospheric CO2 concentrations and mitigating the impacts of global warming and climate change. Mangroves can also accumulate heavy metals, help degrade organic pollutants, and exhibit an ecological interception effect against microplastics.

    The wetlands of the nature reserves in Futian and Mai Po not only support rich biodiversity but also symbolize the close cooperation between Shenzhen and Hong Kong in ecological conservation.

    Since signing the framework arrangement for the conservation of Shenzhen Bay (Deep Bay) wetlands in January 2023, the two cities have made significant strides in protecting mangroves and wetlands, offering valuable insights into the harmonious coexistence between humans and nature.

    “The Shenzhen Bay is essentially a shared wetland between Shenzhen and Hong Kong. Despite being separated by the Shenzhen River, the ecosystem remains consistent,” said Yang Qiong, a senior engineer at Guangdong Neilingding Futian National Nature Reserve Administration Bureau.

    According to the framework, Shenzhen and Hong Kong will collaborate on ecological baseline and waterbird monitoring, synchronized surveys of black-faced spoonbills and their habitats, protection of inter-tidal mudflat and native mangrove species, capacity building, and experience sharing on environmental education.

    The framework provides an excellent platform for sharing experience in the wetland ecosystem conversation in Shenzhen Bay, said Toby Cheung, nature reserve officer (education) at the AFCD.

    The black-faced spoonbill, a key species in Shenzhen Bay and one of China’s top protected animals, has experienced a notably impressive population recovery. From fewer than 300 individuals in the 1990s to 6,988 counted globally in January 2024, the growth of black-faced spoonbill highlights the importance of Shenzhen Bay’s role in their protection.

    To accurately monitor the numbers and distribution of black-faced spoonbills, Shenzhen and Hong Kong conduct synchronized surveys and smart monitoring. Monthly synchronized data reflects the status of black-faced spoonbill throughout Shenzhen Bay, while annual global synchronized surveys provide a comprehensive understanding of population dynamics.

    High-definition cameras and AI-powered bird recognition technology are used for automated monitoring, particularly at night, reducing disturbance to resting birds while improving monitoring efficiency.

    On Nov. 6, 2024, an agreement was signed to establish the International Mangrove Center in Shenzhen, marking the beginning of deeper cross-border joint protection efforts in wetland conservation. In the future, the two cities aim to build a more comprehensive cross-border joint protection model and extend their cooperation to global mangrove conservation efforts.

    Yang said that Shenzhen and Hong Kong can learn from each other’s advanced experience and practices in wetland protection and implement cross-border joint conservation efforts. She noted that the wetland protection model in Shenzhen Bay, developed through collaboration between the two cities, could serve as a standout example for exchange at the International Mangrove Center.

    Nora Tam, chair professor of environmental science and conservation at Hong Kong Metropolitan University, noted that through the platform of the International Mangrove Center, Shenzhen and Hong Kong can increase exchanges and cooperation in science and technology, resources, management, and information, promoting wetland protection cooperation within the Greater Bay Area and beyond.

    MIL OSI China News –

  • MIL-OSI USA: Tuberville, Cruz Introduce Legislation to Protect American Fishermen from Cartels

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)
    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) joined Senator Ted Cruz (R-TX) in reintroducing legislation to target illegally caught red snapper and tuna imports. The senators introduced similar legislation last Congress.
    The Illegal Red Snapper and Tuna Enforcement Act would require the National Institute of Standards and Technology (NIST) and the National Oceanic and Atmospheric Administration (NOAA) to develop a standard methodology for identifying the country of origin of red snapper or tuna imported into the United States. Snapper poaching continues to be an issue across the Gulf of America, as Mexican fishermen illegally catch red snapper, smuggle it into their country, and then confuse American consumers by selling our fish back to us. 
    “Alabama lands 34 percent of all recreationally caught Red Snapper in the Gulf,” said Senator Tuberville. “Unfortunately, our domestic Red Snapper industry is being undermined by Mexican fishermen who are illegally catching American snapper in the Gulf, smuggling them into Mexico, and then reselling the same fish back to American consumers. In addition to taking business away from Alabama’s fishermen, many of the profits from these illegal fishing operations are funding the cartels. I’m proud to join Senator Cruz in introducing the Illegal Red Snapper and Tuna Enforcement Act to stop illegal Red Snapper from flooding our markets and bankrupting our great fishermen.”
    U.S. Senators Tuberville and Cruz were joined by U.S. Senators Katie Britt (R-AL) and Brian Schatz (D-HI).
    Full text of the legislation can be found here.
    BACKGROUND:
    Mexican fishermen cross the maritime border between Texas and Mexico on small boats called “lanchas” to illegally catch red snapper in U.S. waters and return to Mexico. The fish are sold in Mexico or mixed in with legally-caught red snapper then exported back into the United States across land borders. Red snapper is one of the most well-managed and profitable fish in the Gulf of Mexico, but illegal fishing by Mexican lanchas puts law-abiding U.S. fishermen and seafood producers at a competitive disadvantage. Illegal, Unreported, and Unregulated (IUU) fishing activities violate both national and international fishing regulations.
    Cartels engaged in drug smuggling and human trafficking also engage in the profitable illegal fishing of red snapper. The same fishing boats and fishermen who catch red snapper also smuggle drugs and humans for the cartels, and these profits support the organization.
    Technology exists to chemically test and find the geographic origin of many foods, but not for red snapper or tuna. The Illegal Red Snapper and Tuna Enforcement Act would develop a field test kit the Coast Guard could use to accurately ascertain whether fish were caught in Mexico or U.S. waters, thus allowing federal and state law enforcement officers to identify the origin of the fish and confiscate illegally caught red snapper or tuna before it is imported back into the U.S.
    With the help of machine learning, NIST scientists are currently able to chemically determine the geographic origin of foods, including strawberries, apples, cherries, ginseng, ginkgo, beef, honey, and rice. Using those same methodologies, these scientists believe it would be possible to determine the geographic origin of red snapper. This would allow law enforcement to have a better understanding of the networks that support illegal fishing. It would also reduce the financial incentives for the crime, since the fish could no longer be sold back into the United States. If successful, this method could be expanded to identify other IUU fish.
    MORE:
    Tuberville Takes Aim At Cartels Engaged in Illegal Red Snapper Fishing
    Tuberville Voices Concerns About New Federal Red Snapper Limits
    Tuberville, Colleagues Advocate for Management Flexibility to Preserve Red Snapper Season
    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 Australia: Australian produce in high demand for Lunar New Year Celebrations in China

    Source: Minister for Trade

    The Lunar New Year marks exciting new opportunities for Australian food and agriculture exporters to China, with $20 billion worth of trade impediments now removed.

    China’s consumers can celebrate the Year of the Snake by dining on a smorgasbord of Aussie cuisine, including delicious lobsters, the world’s best wines, and high-quality beef steaks.

    The Albanese Labor Government has worked calmly and consistently to restore dialogue to Australia’s relationship with China and secure the removal of $20 billion of trade impediments.

    Following the removal of the final trade impediments in December 2024, dining tables in China will now feature Australian live rock lobsters, a welcome outcome for Chinese consumers and Australian businesses alike.

    Over 900 tonnes of live rock lobsters has already been exported to China since the removal of impediments. This has supported the jobs of 3,000 Australians employed in the industry, 2,000 of which are in Western Australia.

    Australian fresh cherries are also highly prized as a gift to celebrate the Lunar New Year, and demand is expected to grow this financial year, after strong growth last year. Australia exported $14 million or 582 tonnes of cherries in 2023-24, an increase of 129 per cent in value and 137 per cent in volume. 

    Exports to China of Australian agricultural products previously affected by trade impediments have rebounded in 2024 year-on-year (January to October):

    • barley increased 221 per cent in value;
    • wine increased over 5,000 per cent in value; and
    • timber logs (specifically, wood in the rough) increased over 8,000 per cent in value.

    China remains Australia’s largest market for agricultural exports, worth $17.1 billion and accounting for around a quarter of total agricultural exports in 2023-24.

    Quotes attributable to Foreign Minister Penny Wong:

    “The Albanese Labor Government’s calm and consistent approach to our relationship with China is delivering for Australians and for our national interest.

    “It’s the result of hard work and a responsible Government that doesn’t play reckless political games with Australia’s most important relationships. 

    “Labor will continue to support Australian businesses to sell their products to the world, including through our efforts to diversify our trade.”

    Quotes attributable to Trade and Tourism Minister Don Farrell:  

    “Sustained engagement and advocacy by the Albanese Labor Government has resulted in the removal of around $20 billion of Chinese trade impediments, benefiting Australian farmers, exporters and our regions.

    “But we will not rest on our laurels – we are committed to creating even more export opportunities for Australian farmers and producers.

    “Every product we export means more national income and more well-paying Australian jobs.”

    Quotes attributable to Agriculture, Fisheries and Forestry Minister Julie Collins:

    “Australia has an outstanding reputation as a supplier of high-quality agricultural products in China.  

    “Our Government is focused on strengthening our trade relationships and expanding opportunities for Australia’s farmers and producers.

    “In 2023-24, we recorded 88 market access achievements which opened, improved, maintained, or restored access for Australian businesses, including unlocking 10 new markets.

    “Australia exports over 70 per cent of our agricultural, fisheries and forestry production to 169 markets globally – the most diversified trade has ever been – thanks to the Albanese Labor Government.”

    MIL OSI News –

  • MIL-OSI USA: SECURING MISSOURI’S FUTURE: Governor Kehoe Delivers First State of the State Address

    Source: US State of Missouri

    JANUARY 28, 2025

    Jefferson City — JEFFERSON CITY, MO – Today, Governor Mike Kehoe delivered his first State of the State Address to the Missouri General Assembly, outlining his legislative and budget priorities for Fiscal Year 2026 (FY26).

    Governor Kehoe opened his first address to the 103rd General Assembly by reflecting on lessons learned to stay humble from his mentor, Dave Sinclair, with a commitment to working with the members of the legislature during his time as governor.

    “I said earlier that I will never forget my roots. Well, I’ve sat where you sit. I understand the pressures you face. And I want to work with you—not against you—because I believe we can only secure Missouri’s future if we work together,” said Governor Kehoe.

    Governor Kehoe’s speech focused on the policy priorities that have remained a central focus at the start of his administration, beginning with public safety.

    “Any efforts we may make to improve the lives of Missourians–whether it be education opportunities, cutting taxes, or expanding childcare–none of it matters if Missourians aren’t safe,” Governor Kehoe said. “Securing Missouri’s future begins with public safety.”

    Public Safety

    During his speech, Governor Kehoe discussed the actions his administration took on Inauguration Day, signing six executive orders developed based on input from law enforcement to launch the Safer Missouri initiative.

    To support law enforcement recruitment and retention efforts, Governor Kehoe’s budget recommends funding to bolster the existing Missouri Blue Scholarship Program for law enforcement basic training and $10 million in new funding to assist local communities who prioritize public safety with equipment and training needs through the Blue Shield Program.

    The budget also includes $2.5 million to support the sheriff’s retirement system for another year, and funding for a new crime lab in Cape Girardeau, serving the Missouri State Highway Patrol Troop E region.

    As part of the Safer Missouri initiative, Governor Kehoe urged the General Assembly to pass a comprehensive crime bill that includes increasing penalties for crimes like violent rioting and fleeing from law enforcement in a vehicle, cracking down on criminals who participate in reckless stunt driving and street racing, and efforts to increase oversight and accountability of the St. Louis Metropolitan Police Department.

    To combat the fentanyl crisis and identify areas of high fentanyl use in schools across the state, Governor Kehoe’s budget includes a $4 million investment for fentanyl testing in wastewater systems at schools. Governor Kehoe also encouraged the legislature to take action on increasing penalties for fentanyl trafficking.

    Economic Development

    Governor Kehoe emphasized his efforts to make Missouri a welcoming state for business investment. From manufacturers, to retail, to Missouri’s sports teams: businesses who provide jobs and opportunities to Missourians are an important part the state’s economic success.

    In order to compete with other states, the Kehoe Administration will focus on reducing taxes and cutting regulations, so families keep more of their own money, and so job creators look at our state to expand and hire more hard-working Missourians.

    Governor Kehoe announced that he has directed the Missouri Department of Revenue to work with his staff on a sustainable and comprehensive plan to eliminate the individual income tax once and for all.

    And, knowing that infrastructure and economic development go hand in hand, Governor Kehoe’s budget includes a reappropriation of last year’s 100 million dollars for rural road improvements to ensure all of those funds are invested in rural infrastructure.

    Governor Kehoe’s speech focused largely on solving the biggest challenge to the child care crisis: addressing the current regulatory environment.

    In an effort to make the child care regulations easier to understand and navigate, Governor Kehoe issued Executive Order 25-15, charging the Department of Elementary and Secondary Education-Office of Childhood with a complete re-write of the child care regulations.

    The budget also includes $10 million to offer grant funding opportunities to support partnerships between employers, community partners, and the child care industry to make more child care slots available for Missouri families.

    In an effort to provide timely payments for the child care providers who partner with the state to provide care, providers will receive payments from the state at the beginning of the month on enrollment, starting in fiscal year 2026.

    To build on Missouri’s career and technical education opportunities, Governor Kehoe’s budget includes $15 million in new funding to address equipment, space, and operational needs of career and technical centers across the state, as well as an increase of $5 million on an annual basis to support increased operational costs.

    The budget includes increased funding to expand career counseling to more high schools across the state, so that students can talk to school counselors about their future career path, whether that includes college or not.

    Governor Kehoe also signed Executive Order 25-16 establishing the Governor’s Workforce of the Future Challenge, instructing DESE to put a plan in place for better coordination among key stakeholders, including K-12 schools, local business and industry, and higher education to improve the state’s career and technical education programs and infrastructure.

    Agriculture

    Securing the future of agriculture also means investing in the next generation. Governor Kehoe’s budget includes $800,000 in permanent funding for Missouri FFA.

    Additionally, the budget includes $55 million in new bonding to support the construction of a 40,000 square foot covered multi-use livestock barn and 80,000 square foot stalling barn to house equine and other livestock at the Missouri State Fair’s new arena, which was previously supported by the legislature and is now under construction.

    Education

    Governor Kehoe is a proud supporter of education in all of its forms–public schools, private schools, charter schools–as long Missouri’s children are getting a quality education that best meets their needs.

    To expand school choice, Governor Kehoe urged the General Assembly to pass voluntary open enrollment in public schools.

    Governor Kehoe’s budget also includes $50 million in general revenue funding to bolster the ESA program.

    This year, Governor Kehoe’s budget recommends a $200 million increase for the Foundation Formula, the largest increase since the current Formula was created. And, over $370 million to fully fund the state’s commitment for school transportation needs. For teachers, the budget includes $33 million to fund teacher salaries. Additionally, the budget includes $30 million for Small School Grants to support the continued success of our small rural school districts, the heartbeat of their communities.

    Governor Kehoe also signed Executive Order 25-14 establishing the School Funding Modernization Task Force to recommend changes to the Foundation Formula to better serve students and families.

    Government Improvements 
    To continue to recruit and retain quality state team members, Governor Kehoe announced a statewide time of service pay plan increase for state employees.

    Governor Kehoe also previewed action on DEI programs in state government and support for creating Missouri’s own version of a DOGE initiative. He committed to working with the General Assembly on these efforts in the coming weeks.

    During his speech, Governor Kehoe recognized special guests for their achievements and commitment to the people of Missouri:

    Special Guests of the Governor

    • Lizzy Schott
    • Safer Missouri Initiative Group
    • Alena Malone
    • Adeline Thessen
    • USS Missouri Crew Members  

    Governor Kehoe emphasized there are safer choices than abortion in Missouri and committed to helping pregnant women know these exist, including the Pregnancy Resource Centers across the state. The budget includes support for alternatives to abortion with $4 million  in additional funding to benefit expecting and new mothers, a more than 50% increase to existing services.

    Governor Kehoe closed the speech thanking veterans and service members, adding that his proposed budget includes an additional $10 million of general revenue funding to our Missouri Veterans Homes.

    “Our work in this building is only possible because of those who came before us: the sacrifices of our brave service men and women,” said Governor Kehoe. “Under the Kehoe Administration, NO veterans home will close due to a lack of state funding.”

    To view a full transcript of Governor Kehoe’s speech and special guest bios, please see attachments. To view the FY2026 Budget in Brief, please see attachment.

    The FY26 Executive Budget will be available here at 3:00 p.m. To view the executive orders signed by Governor Kehoe, visit this link.

    Pictures from today’s events, including special guests, will be available on Flickr. An archived video of the 2025 State of the State is available at mo.gov/live.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Justice Department Secures Agreement Preventing Indiana Exhibitor and Dog Breeder from Violating the Animal Welfare Act

    Source: Office of United States Attorneys

    WASHINGTON — In a consent decree entered today by the U.S. District Court for the Northern District of Indiana, Indiana exhibitor and dog breeder, Vernon D. Miller, agreed to not apply for or engage in any activity that requires a Department of Agriculture (USDA) license for two years. If Miller is relicensed in the future, he must comply with Animal Welfare Act (AWA) regulations and standards necessary to provide humane and lawful care to the animals he exhibits and sells.

    A complaint filed in October alleged that Miller — individually and doing business as the Dutch Creek Farm Animal Park in Shipshewana, Indiana — had violated the AWA by failing to provide adequate veterinary care, safe and hospitable enclosures, appropriate enrichment and sanitary housing, food and water to his animals. The complaint also alleged that Miller had failed to maintain legally required records.

    At the time of the filing of the complaint, Miller had been cited for 90 AWA violations in just over a year, the highest number of citations for any USDA-licensed facility during that time period (2023-2024). Miller’s violations impacted over 300 animals that he exhibited to the public — including deer, zebra, exotic birds and primates — and dozens of dogs and puppies that he bred for sale as pets.

    The citations for multiple violations included unsanitary conditions (including stalls piled high with feces and food dishes coated in grime or mold), and failing to provide animals with sufficient shelter, failing to properly vaccinate puppies and failing to provide veterinary care for animals with illnesses or open wounds. The complaint alleged that such conditions had likely led to numerous animal deaths, with at least seven animals dying in the few months prior to the filing of the case.

    USDA suspended Miller’s license for 21 days starting on Oct. 9. The court entered a temporary restraining order against Miller on Oct. 28, requiring him to comply with multiple AWA regulations and standards, provide records and documentation to help monitor compliance and refrain from buying, selling, euthanizing or exhibiting animals without the consent of the United States or the court. The temporary restraining order expired on Dec. 2.

    “The maltreatment of animals entrusted to Mr. Miller’s care is a despicable act that deserves just intervention,” said Acting United States Attorney Tina L. Nommay.  “We will continue to work with our federal partners to identify and hold accountable those exhibitors and dog breeders who provide inhumane care to animals in violation of the Animal Welfare Act.” 

    “USDA is committed to ensuring the safety and wellbeing of animals protected under the Animal Welfare Act,” said Deputy Administrator Sarah Helming for USDA’s Animal Care program. “The partnership between USDA and DOJ helps to ensure enforcement of the AWA regulations for those who put regulated animals at risk.”

    In addition to not applying for or engaging in activity requiring a USDA license for at least two years, the consent decree, in effect for five years, outlines that Miller will allow USDA inspectors limited access to the facility, if it is open to the public, and will produce certain records for compliance monitoring during any time he is not licensed. If Miller applies for and receives a USDA license in the future, he agrees to comply with AWA regulations and standards that he had previously violated and to maintain veterinary and other accurate and complete records.

    USDA investigated the case and filed a parallel administrative enforcement action.

    Senior Trial Attorney Devon Flanagan and Trial Attorneys Kamela Caschette, Angela Mo and Chris Carrara of the Justice Department’s Wildlife and Marine Resources Section prosecuted the case, with support from Assistant U.S. Attorney Dirk DeLor for the Northern District of Indiana and USDA’s Office of General Counsel and Animal and Plant Health Inspection Service. 

    MIL Security OSI –

  • MIL-OSI USA: Lummis Secures Key Subcommittee Chairmanship to Champion Wyoming Energy 

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    January 28, 2025

    WASHINGTON, D.C. – U.S. Senator Cynthia Lummis (R-WY) announced she will chair the Environment and Public Works Subcommittee on Clean Air, Climate, Nuclear Innovation and Safety for the 119th Congress:
    “Thanks to my position on the Environment and Public Works committee, I can deliver crucial results for the people of Wyoming,” said Lummis. “I am honored to chair this subcommittee, which oversees the EPA Office of Air and Radiation and the Nuclear Regulatory Commission.  Wyoming continues to develop its traditional energy sector while investing in new and exciting nuclear technology.  I look forward to advancing policies that benefit an all-of-the-above energy approach and spur development across the Cowboy State. ”
    Senator Lummis will also serve on the Transportation and Infrastructure and the Fisheries, Water, and Wildlife subcommittees.

    MIL OSI USA News –

  • MIL-OSI USA: MEMO: How Trump’s Federal Funding Freeze Affects Colorado

    US Senate News:

    Source: United States Senator for Colorado John Hickenlooper
    Head Start programs, Meals on Wheels, Veterans’ suicide prevention programs, COPS grants to police departments all affected
    In a chaotic late-night, two-page memo, President Trump immediately froze federal grants and loans. While the order is blatantly illegal, below is a memo outlining what programs are being affected by this sudden, ill-thought out freeze of funding. 
    “What does this mean for Colorado? Funding to our police departments, our hospitals, programs for homeless veterans. Nearly 9,000 kids in Colorado Head Start programs may be locked out. Trump is sacrificing working Americans,” said U.S. Senator John Hickenlooper.
    TO: Interested Parties
    FROM: Office of U.S. Senator John Hickenlooper
    SUBJECT: Effects of Trump Executive Order Freezing Federal Funds 
    DATE: January 28, 2025 
    OMB Memo to Pause Spending: On Monday night, the acting director of the White House Office of Management and Budget sent a two-page memorandum to all federal agency heads directing them to “temporarily pause all activities related to obligations or disbursement of Federal financial assistance.” The order is set to take effect at 3pm MT today. The memo also requires that agencies review all financial assistance programs to ensure activities are “consistent with the President’s policies and requirements,” citing several executive orders directed to pause all spending on foreign aid, the green new deal, “woke gender ideology,” and DEI programs. Agencies must provide OMB detailed information on program spending by February 10th, and assign “responsibility and oversight” to a senior political appointee. Below you can find priority programs and projects in Colorado that may be impacted by this pause. 
    COLORADO IMPACTS
    The order is expected to impact tens of billions of dollars in payments for Colorado. Federal funds make up approximately 25 percent of  Colorado’s total budget.
    The latest Biden administration data lists total IRA/BIL/CHIPS public investment in Colorado at $10.586 billion
    IRA/BIL climate-focused programs: Estimated $600M-$900M 
    Halts programs at Colorado’s rural hospitals: Pauses funding to increase health care access, support community health centers, treat substance abuse issues, and improve care quality for small rural hospitals and Critical Access Hospitals across the state. 
    For example, some of the programs and areas that will be affected:
    $1,420,601 for rural hospital improvements and Medicare flexibility in Arapahoe County
    $1,250,000 to battle the opioid crisis and increase access to substance abuse programs in Moffat County
    $784,031 to help screen patients suffering from black lung disease Denver County
    $499,847 to battle the opioid crisis and increase access to substance abuse programs in Adams County 
    $200,000 to improve access to health care providers in San Miguel County 
    $100,000 to expand rural health care development in Archuleta County 
    $100,000 to expand rural health care development in Mesa County
    Additional programs paused include cancer research, rural telehealth options, and infectious disease preparation.
    Medicaid portal down nationwide: Our office has heard from Colorado hospitals that the Medicaid payment system has been turned off. With Medicaid portals down, doctors and hospitals in Colorado are unable to receive funds through the system. Reports have circulated that other states are running into the same issue and have been shut off from Medicaid. 
    Takes food away from 40 percent of Colorado school kids: Halts federal payments for school breakfast and lunch programs. 40% of Colorado kids rely on these programs to stay fed and healthy. 
    Cuts off 83,000+ low-income families from heating their homes in the dead of winter: Halts funding disbursements for low-income Colorado families who rely on LIHEAP funding to keep their home warm this winter. In FY24, 83,800+ households depended on LIHEAP. 
    25,000+ Colorado seniors will be unsure where their next meal will come from: Local Meals on Wheels providers are unsure whether they will be able to serve meals. 25,000+ Colorado seniors utilize Meals on Wheels to access food. 
    Strips $182 million from the budgets of our local public schools: Will strip Colorado public schools of $182 million in federal funding, straining the budget of our local public schools even further.
    19,000+ kids unable to attend child care or Head Start programs: Facilities will not be able to access reimbursements that help provide low-income kids with the early childhood education, health, and nutrition that they need. In FY23, nearly 9,000 kids were enrolled in Head Start in Colorado. Head Start programs around the country are already reporting being locked out of the portal to access reimbursements.
    Federal funding to provide child care assistance to low-income families will also be paused, with over 10,000 kids in Colorado between the ages of 0-5 were supported by Child Care and Development Block Grant funding last year. 
    Hits our farmers and producers where it hurts when food prices are already too high for working families: This threatens funding to programs that benefit producers and consumers alike, including the Local Food Purchase Assistance Cooperative Agreement Program (LFPA). Since 2022, LFPA has contributed over $2M to local ag in Colorado, and enabled food banks to distribute over 1.2 million pounds of nutritious food to Coloradans in need. The order also pauses funding to agriculture research and meat, poultry, and egg product inspection.  
    Pauses critical loans for thousands of Colorado small businesses: All SBA loans, including disaster relief, will be paused. This will cripple local small businesses as they will be unable to make payroll, their leasing payment, or more. Over 5,000 Colorado small businesses have been approved for SBA loans in the past three years. 
    Deny Colorado communities funding to fight opioid misuse: Last year, Colorado received $20.8 million to fund addiction prevention, treatment, and recovery services across the state.
    Weakens our public safety and undermines our law enforcement: Pauses crucial funding used to prevent terrorism, hire more police officers, prevent school violence, and crack down on drug trafficking. 
    For example, some of grants that boost public safety in Colorado that will be impacted include: 
    $12.2 million to the Colorado Department of Public Safety to prevent terrorism 
    $9 million in Office of Violence Against Women grants in FY24 for Colorado organizations for victims assistance as well as state and local police  
    $680,798 awarded to Colorado Springs to reduce drug trafficking and drug production
    $336,629 for the Colorado Department of Public Safety to crack down on drug trafficking 
    Strips Colorado’s 365,000+ veterans of the support and resources they’ve earned: Halts funding for community-based suicide prevention efforts, organizations that provide care for veterans experiencing homelessness, and services for veterans living with disabilities or struggling with mental health crises. Health care programs that support family members of disabled veterans as well as educational programs, such as the Montgomery GI Bill and post-9/11 education benefits, will be paused. Funds will also be frozen for the VA Dependency and Indemnity Compensation, which supports surviving family members. Federal funding that helps veterans secure good-paying jobs through job training and support services is also threatened. 
    For example, organizations, such as the Colorado Coalition for Homeless, won’t be able to access their regular funding to help support veterans pay their monthly rent.  
    Cuts off 988 Suicide and Crisis Lifeline: Pauses funding for the suicide and life crisis hotline that offers real-time support for those struggling with a mental health crisis, emotional distress, and alcohol or durg use.  
    After our Bipartisan Infrastructure Law has already invested $5.3 billion in Colorado, all DOT grant programs will be paused and reviewed. Many Colorado projects are at risk, including all major programs impacting highways, aviation, safety, rail, and more.
    Appeases China by allowing them to continue having a hold in our rural communication networks: Hickenlooper successfully secured $3.08 billion for the Federal Communications’s Secure and Trusted Communications Networks Reimbursement Program, or the Rip and Replace program for short. Colorado was awarded the highest outstanding amount. That funding is now paused, leaving our rural small businesses in the dust and our telecommunications networks at risk.

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville Supporting Elimination of DEI, Restoration of Lethality in Armed Forces

    US Senate News:

    Source: United States Senator for Alabama Tommy Tuberville
    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) issued a statement in support of President Donald Trump’s latest executive orders restoring lethality to the United States Armed Forces.
    “For the past four years, I have sounded the alarm about Joe Biden and the far-left, progressive Democrats politicizing our military,” said Senator Tuberville. “As a result, recruitment has fallen to the lowest levels since before World War II. We need our military to be a fighting machine, not a playground for Democrats’ culture war. Thankfully, change is here. Yesterday’s executive orders from President Donald Trump eliminate DEI in the military, reinstate service members discharged for refusing the COVID vaccine, and ensure military standards are updated to prioritize readiness, restore lethality, and build confidence in our Armed Forces. With President Trump and Secretary Hegseth at the helm, our military will be 100% focused on protecting our country and putting America First on the world stage.”
    MORE:
    Tuberville: “We need a military that is 100% focused on protecting our country and enhancing national security.”
    ICYMI: Tuberville op-ed: “Biden is Infecting Our Military With Woke Politics While the World Implodes”
    Tuberville Questioned Army Officials on Lasting Effects of Vaccine Policy on the Military
    Tuberville, Colleagues Help Secure Provision To Protect Servicemembers From COVID Vaccine Mandate In 2023 NDAA
    Tuberville Questions Pentagon about COVID Vaccine Military Discharge
    Tuberville Demands Answers on Military’s Vaccine Mandate
    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: Veritex Holdings, Inc. Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Jan. 28, 2025 (GLOBE NEWSWIRE) — Veritex Holdings, Inc. (“Veritex”, the “Company”, “we” or “our”) (Nasdaq: VBTX), the holding company for Veritex Community Bank, today announced the results for the fourth quarter and full year of 2024.

    “We achieved significant milestones during 2024 as we improved our credit risk profile and strengthened and completed our balance sheet remake,” said C. Malcolm Holland, III, the Company’s Chairman and Chief Executive Officer. “My team and I are committed to continue to drive execution of our strategic plan in 2025. Now it’s back to what we do best; grow profitability.”

    2024 Highlights:

    • Operating EPS was $2.17 for 2024;
    • Criticized loans decreased approximately $100 million during 2024;
    • Commercial real estate concentrations decreased from 320.2% for the year ended 2023 to 298.9% for the year ended 2024;
    • Nonperforming assets to total loans decreased 15 basis points to 0.62% from 2023;
    • Loan to deposit ratio decreased to 89.3% as of December 31, 2024 compared to 93.6% as of December 31, 2023;
    • Total deposits grew $414.4 million, or 4.0%, year-over-year;
    • Common equity tier 1 capital increased 80 bps to 11.09% as of December 31, 2024 compared to 10.29% as of December 31, 2023;
    • Tangible book value per common share increased 6.9%, or $1.40, during 2024 compared to 2023;
    • Allowance for credit losses (“ACL”) to total loans increased to 1.18%, or 4 bps, from 1.14% as of December 31, 2023;
    • Declared quarterly cash dividend of $0.20 per share of outstanding common stock payable on February 28, 2025;.and
    • Named one of the “Best Companies to Work For” by the 2024 Inaugural U.S. News & World Report which evaluates companies based on quality of pay, work/life balance, and opportunities for professional development and advancement.
        Quarter to Date     Full Year
    Financial Highlights   Q4 2024   Q3 2024   Q4 2023       2024       2023  
        (Dollars in thousands, except per share data)
    (unaudited)
    GAAP          
    Net income   $ 24,882     $ 31,001     $ 3,499       $ 107,241     $ 108,261  
    Diluted EPS     0.45       0.56       0.06         1.95       1.98  
    Book value per common share     29.37       29.53       28.18         29.37       28.18  
    Return on average assets1     0.78 %     0.96 %     0.11 %       0.85 %     0.88 %
    Return on average equity1     6.17       7.79       0.92         6.85       7.21  
    Net interest margin     3.20       3.30       3.31         3.26       3.49  
    Efficiency ratio     67.04       61.94       77.49         62.62       55.82  
    Non-GAAP2                      
    Operating earnings   $ 29,769     $ 32,181     $ 31,625       $ 119,397     $ 142,114  
    Diluted operating EPS     0.54       0.59       0.58         2.17       2.60  
    Tangible book value per common share     21.61       21.72       20.21         21.61       20.21  
    Pre-tax, pre-provision operating earnings     40,945       44,555       47,688         173,576       222,211  
    Pre-tax, pre-provision operating return on average assets1     1.28 %     1.38 %     1.54 %       1.37 %     1.81 %
    Pre-tax, pre-provision operating return on average loans1     1.72       1.83       1.97         1.81       2.32  
    Operating return on average assets1     0.93       1.00       1.02         0.95       1.16  
    Return on average tangible common equity1     9.04       11.33       2.00         10.10       10.91  
    Operating return on average tangible common equity1     10.69       11.74       12.37         11.17       14.09  
    Operating efficiency ratio     62.98       60.63       55.50         60.22       50.94  

    1 Annualized ratio.
    2 Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of these non-generally accepted accounting principles (“GAAP”) financial measures to their most directly comparable GAAP measures.

    Results of Operations for the Three Months Ended December 31, 2024

    Net Interest Income

    For the three months ended December 31, 2024, net interest income before provision for credit losses was $96.1 million and net interest margin was 3.20%, compared to $100.1 million and 3.30%, respectively, for the three months ended September 30, 2024. The $3.9 million decrease, or 3.9%, in net interest income before provision for credit losses was primarily due to a $12.3 million decrease in interest income on loans primarily driven by a decrease in loan yields and average loan balances. This decrease was partially offset by a $1.1 million increase in interest income on debt securities, $6.0 million decrease in interest expense on certificates and other time deposits, $2.4 million decrease in interest expense on transaction and savings deposits during the three months ended December 31, 2024. Net interest margin decreased 10 bps from the three months ended September 30, 2024, primarily due to the decrease in loan yields during the three months ended December 31, 2024, partially offset by an increase in yields on debt securities.

    Compared to the three months ended December 31, 2023, net interest income before provision for credit losses for the three months ended December 31, 2024 increased by $608 thousand, or 0.6%. The increase was primarily due to a $4.6 million increase in interest income on debt securities, a $3.7 million increase in interest income in deposits in financial institutions and fed funds sold, a $2.5 million decrease in interest expense on advances from FHLB and a $1.4 million decrease in transaction and savings deposits driven by an decrease in funding costs. The increase in net interest income was partially offset by a $10.4 million decrease in interest income on loans driven by a decrease in loan yields and average balances. Net interest margin decreased 11 bps to 3.20% for the three months ended December 31, 2024 from 3.31% for the three months ended December 31, 2023. The decrease was primarily due to the decrease in loan yields during the three months ended December 31, 2024.

    Noninterest Income (Loss)

    Noninterest income for the three months ended December 31, 2024 was $10.1 million, a decrease of $3.1 million, or 23.3%, compared to noninterest income of $13.1 million for the three months ended September 30, 2024. The decrease in noninterest income was primarily due to a $4.4 million loss on sales of debt securities as a result of a strategic restructuring in which we sold $188.9 million of lower-yielding AFS securities, at amortized cost, with a 3.89% average yield, and reinvested the proceeds in higher yielding AFS securities with a 5.67% average yield. The decrease was also the result of a decrease of $852 thousand of OREO income, higher amortization of our servicing assets of $829 thousand and a decrease of $681 thousands due to the change in the value of equity securities. The decrease was partially offset by an increase of $4.6 million increase in government guaranteed loan income.

    Compared to the three months ended December 31, 2023, noninterest income for the three months ended December 31, 2024 increased $27.8 million, or 156.5%. The increase was primarily due to a $29.4 million loss on equity method investment income related to the write down of our equity method investment in Thrive during the three months ended December 31, 2023 with no corresponding loss recorded during the three months ended December 31, 2024. The Company has no remaining equity method investment in Thrive.

    Noninterest Expense

    Noninterest expense was $71.2 million for the three months ended December 31, 2024, compared to $70.1 million for the three months ended September 30, 2024, a increase of $1.1 million, or 1.6%. Changes within noninterest expenses items were nominal.

    Noninterest expense was $71.2 million for the three months ended December 31, 2024, compared to $60.2 million for the three months ended December 31, 2023, an increase of $11.0 million, or 18.2%. The increase was primarily driven by a $6.8 million increase in salary and employee benefits, a $4.1 million increase in other expenses, a $1.2 million increase in data processing and software expenses, and a $951 thousand increase in marketing expenses. The increase was partially offset by a $2.1 million decrease in professional and regulatory fees.

    Financial Condition

    Total loans held for investment (“LHI”) was $8.90 billion at December 31, 2024, a decrease of $129.4 million, compared to September 30, 2024, and a decrease of $307.4 million, or 3.3%, compared to December 31, 2023.

    Total deposits were $10.75 billion at December 31, 2024, an decrease of $283.4 million compared to September 30, 2024, and an increase of $414.4 million, or 4.0%, compared to December 31, 2023. The decrease from September 30, 2024 was primarily the result of a decrease of $667.1 million in certificates and other time deposits, a decrease of $452.4 million in noninterest-bearing deposits, and a decrease of $20.4 million in correspondent money market accounts. The decrease was partially offset by a increase of $856.4 million in interest-bearing transaction, money market, and savings deposits. The increase from December 31, 2023 was primarily the result of an increase in attractive deposits which consisted of $712.8 million in interest-bearing transaction, money market, and savings deposits. The increase was partially offset by a $232.9 million decrease in certificates and other time deposits, a $38.9 million decrease in correspondent money market accounts, and a $26.6 million decrease in non-interest bearing deposits.

    Credit Quality

    Nonperforming assets (“NPAs”) increased to $79.2 million, or 0.62% of total assets, at December 31, 2024, compared to $67.3 million, or 0.52% of total assets, at September 30, 2024. Net charge-offs compared to average loans outstanding were 21 bps for the year ended December 31, 2024, compared to 25 bps for year ended December 31, 2023.

    ACL as a percentage of LHI was 1.18%, 1.21%, and 1.14% at December 31, 2024, September 30, 2024, and December 31, 2023, respectively. The Company recorded a provision for credit losses of $2.3 million for the three months ended December 31, 2024, compared to a provision for credit losses of $4.0 million and $9.5 million for the three months ended September 30, 2024 and December 31, 2023, respectively. The recorded provision for credit losses reported for the three months ended December 31, 2024, compared to the three months ended December 31, 2023 was primarily attributable to a decrease in the overall loans held for investment balances and changes in general reserves as a result of changes in economic factors. The Company recorded a benefit for unfunded commitments of $401 thousand and $1.5 million during the three months ended December 31, 2024, and December 31, 2023, respectively. There was no provision for unfunded commitments recorded during the three months ended in September 30, 2024. The decrease in the recorded benefit for unfunded commitments during the three months ended December 31, 2024, compared to the three months ended September 30, 2024, was primarily attributable to changes in the economic factors applied to unfunded commitment balances.

    Dividend Information

    On January 28, 2025, Veritex’s Board of Directors declared a quarterly cash dividend of $0.20 per share on its outstanding shares of common stock. The dividend will be paid on February 28, 2025 to stockholders of record as of the close of business on February 14, 2025.

    Non-GAAP Financial Measures

    Veritex’s management uses certain non-GAAP (U.S. generally accepted accounting principles) financial measures to evaluate its operating performance and provide information that is important to investors. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Veritex’s reported results prepared in accordance with GAAP. Specifically, Veritex reviews and reports tangible book value per common share, operating earnings, tangible common equity to tangible assets, return on average tangible common equity, pre-tax, pre-provision operating earnings, pre-tax, pre-provision operating return on average assets, pre-tax, pre-provision operating return on average loans, diluted operating earnings per share, operating return on average assets, operating return on average tangible common equity and operating efficiency ratio. Veritex has included in this earnings release information related to these non-GAAP financial measures for the applicable periods presented. Please refer to “Reconciliation of Non-GAAP Financial Measures” after the financial highlights at the end of this earnings release for a reconciliation of these non-GAAP financial measures.

    Conference Call

    The Company will host an investor conference call to review the results on Wednesday, January 29, 2025 at 8:30 a.m. Central Time. Participants may pre-register for the call by visiting https://edge.media-server.com/mmc/p/8uwctr48 and will receive a unique PIN, which can be used when dialing in for the call.

    Participants may also register via teleconference at:
    https://register.vevent.com/register/BIf4f4afb9195448ba90575ac59fb337bc. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are instructed to dial-in 15 minutes prior to the start time.

    A replay will be available within approximately two hours after the completion of the call, and made accessible for one week. You may access the replay via webcast through the investor relations section of Veritex’s website.

    About Veritex Holdings, Inc.

    Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

    Forward-Looking Statements

    This earnings release includes “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors, which change over time and are beyond our control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, without limitation, statements relating to the expected payment of Veritex’s quarterly cash dividend; the impact of certain changes in Veritex’s accounting policies, standards and interpretations; a continuation of recent turmoil in the banking industry, responsive measures to mitigate and manage it and related supervisory and regulatory actions and costs and Veritex’s future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “seeks,” “targets,” “outlooks,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2023 and any updates to those risk factors set forth in Veritex’s Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this earnings release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.


    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (Unaudited)

        For the Quarter Ended   For the Year Ended
        Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023    		   Dec 31,
    2024    		   Dec 31,
    2023
        (Dollars and shares in thousands, except per-share data)
    Per Share Data (Common Stock):                            
    Basic EPS   $ 0.46     $ 0.57     $ 0.50     $ 0.44     $ 0.06     $ 1.97     $ 2.00  
    Diluted EPS     0.45       0.56       0.50       0.44       0.06       1.95       1.98  
    Book value per common share     29.37       29.53       28.49       28.23       28.18       29.37       28.18  
    Tangible book value per common share1     21.61       21.72       20.62       20.33       20.21       21.61       20.21  
    Dividends paid per common share outstanding2     0.20       0.20       0.20       0.20       0.20       0.80       0.80  
                                 
    Common Stock Data:                            
    Shares outstanding at period end     54,517       54,446       54,350       54,496       54,338       54,517       54,338  
    Weighted average basic shares outstanding for the period     54,489       54,409       54,457       54,444       54,327       54,450       54,256  
    Weighted average diluted shares outstanding for the period     55,237       54,932       54,823       54,842       54,691       54,958       54,596  
                                 
    Summary of Credit Ratios:                            
    ACL to total LHI     1.18 %     1.21 %     1.16 %     1.15 %     1.14 %     1.18 %     1.14 %
    NPAs to total assets     0.62       0.52       0.65       0.82       0.77       0.62       0.77  
    NPAs to total loans and OREO     0.83       0.70       0.85       1.06       1.00       0.83       1.00  
    Net charge-offs to average loans outstanding3     0.32       0.01       0.28       0.22       0.40       0.21       0.25  
                                 
    Summary Performance Ratios:                            
    Return on average assets3     0.78 %     0.96 %     0.87 %     0.79 %     0.11 %     0.85 %     0.88 %
    Return on average equity3     6.17       7.79       7.10       6.33       0.92       6.85       7.21  
    Return on average tangible common equity1, 3     9.04       11.33       10.54       9.52       2.00       10.10       10.91  
    Efficiency ratio     67.04       61.94       59.11       62.45       77.49       62.62       55.82  
    Net interest margin     3.20       3.30       3.29       3.24       3.31       3.26       3.49  
                                 
    Selected Performance Metrics – Operating:                            
    Diluted operating EPS1   $ 0.54     $ 0.59     $ 0.52     $ 0.53     $ 0.58     $ 2.17     $ 2.60  
    Pre-tax, pre-provision operating return on average assets1, 3     1.28 %     1.38 %     1.42 %     1.42 %     1.54 %     1.37 %     1.81 %
    Pre-tax, pre-provision operating return on average loans1, 3     1.72       1.83       1.83       1.84       1.97       1.81       2.32  
    Operating return on average assets1,3     0.93       1.00       0.91       0.95       1.02       0.95       1.16  
    Operating return on average tangible common equity1,3     10.69       11.74       10.94       11.34       12.37       11.17       14.09  
    Operating efficiency ratio1     62.98       60.63       58.41       58.73       55.50       60.22       50.94  
    Risk weighted assets   $ 11,247,813     $ 11,290,800     $ 11,450,997     $ 11,407,446     $ 11,387,825     $ 11,247,813     $ 11,387,825  
                                 
    Veritex Holdings, Inc. Capital Ratios:                            
    Average stockholders’ equity to average total assets     12.58 %     12.31 %     12.26 %     12.43 %     12.27 %     12.40 %     12.22 %
    Tangible common equity to tangible assets1     9.54       9.37       9.14       9.02       9.18       9.54       9.18  
    Tier 1 capital to average assets (leverage)     10.32       10.06       10.06       10.12       10.03       10.32       10.03  
    Common equity tier 1 capital     11.09       10.86       10.49       10.37       10.29       11.09       10.29  
    Tier 1 capital to risk-weighted assets     11.36       11.13       10.75       10.63       10.56       11.36       10.56  
    Total capital to risk-weighted assets     13.96       13.91       13.45       13.33       13.18       13.96       13.18  

    1 Refer to the section titled “Reconciliation of Non-GAAP Financial Measures” after the financial highlights for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures.
    2 Dividend amount represents dividend paid per common share subsequent to each respective quarter end.
    3 Annualized ratio for quarterly metrics.


    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (In thousands)

        Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024   Dec 31, 2023
        (unaudited)   (unaudited)   (unaudited)   (unaudited)    
    ASSETS                    
    Cash and due from banks   $ 52,486     $ 54,165     $ 53,462     $ 41,884     $ 58,914  
    Interest bearing deposits in other banks     802,714       1,046,625       598,375       698,885       570,149  
    Cash and cash equivalents   $ 855,200     $ 1,100,790     $ 651,837     $ 740,769     $ 629,063  
    Debt securities, net     1,478,538       1,423,610       1,349,354       1,344,930       1,257,042  
    Other investments     69,638       71,257       75,885       76,788       76,238  
    Loans held for sale (“LHFS”)     89,309       48,496       57,046       64,762       79,072  
    LHI, mortgage warehouse (“MW”)     605,411       630,650       568,047       449,531       377,796  
    LHI, excluding MW     8,899,133       9,028,575       9,209,094       9,249,551       9,206,544  
    Total loans     9,593,853       9,707,721       9,834,187       9,763,844       9,663,412  
    ACL     (111,745 )     (117,162 )     (113,431 )     (112,032 )     (109,816 )
    Bank-owned life insurance     85,324       84,776       84,233       85,359       84,833  
    Bank premises, furniture and equipment, net     113,480       114,202       105,222       105,299       105,727  
    Other real estate owned (“OREO”)     24,737       9,034       24,256       18,445       —  
    Intangible assets, net of accumulated amortization     28,664       32,825       35,817       38,679       41,753  
    Goodwill     404,452       404,452       404,452       404,452       404,452  
    Other assets     226,200       211,471       232,518       241,863       241,633  
    Total assets   $ 12,768,341     $ 13,042,976     $ 12,684,330     $ 12,708,396     $ 12,394,337  
    LIABILITIES AND STOCKHOLDERS’ EQUITY                    
    Deposits:                    
    Noninterest-bearing deposits   $ 2,191,457     $ 2,643,894     $ 2,416,727     $ 2,349,211     $ 2,218,036  
    Interest-bearing transaction and savings deposits     5,061,157       4,204,708       3,979,454       4,220,114       4,348,385  
    Certificates and other time deposits     2,958,861       3,625,920       3,744,596       3,486,805       3,191,737  
    Correspondent money market deposits     541,117       561,489       584,067       597,690       580,037  
    Total deposits     10,752,592       11,036,011       10,724,844       10,653,820       10,338,195  
    Accounts payable and other liabilities     183,944       168,415       180,585       186,027       195,036  
    Advances from FHLB     —       —       —       100,000       100,000  
    Subordinated debentures and subordinated notes     230,736       230,536       230,285       230,034       229,783  
    Total liabilities     11,167,272       11,434,962       11,135,714       11,169,881       10,863,014  
    Commitments and contingencies                    
    Stockholders’ equity:                    
    Common stock     613       613       612       611       610  
    Additional paid-in capital     1,328,748       1,324,929       1,321,995       1,319,144       1,317,516  
    Retained earnings     507,903       493,921       473,801       457,499       444,242  
    Accumulated other comprehensive loss     (65,076 )     (40,330 )     (76,713 )     (71,157 )     (63,463 )
    Treasury stock     (171,119 )     (171,119 )     (171,079 )     (167,582 )     (167,582 )
    Total stockholders’ equity     1,601,069       1,608,014       1,548,616       1,538,515       1,531,323  
    Total liabilities and stockholders’ equity   $ 12,768,341     $ 13,042,976     $ 12,684,330     $ 12,708,396     $ 12,394,337  

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (in thousands, except per share data)

        For the Quarter Ended   For the Year Ended
        Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024   Dec 31, 2023   Dec 31, 2024   Dec 31, 2023
        (unaudited)   (unaudited)   (unaudited)   (unaudited)   (unaudited)   (unaudited)    
    Interest income:                            
    Loans, including fees   $ 154,998     $ 167,261   $ 166,979   $ 161,942     $ 165,443     $ 651,180     $ 648,245  
    Debt securities     16,893       15,830     15,408     13,695       12,282       61,826       44,364  
    Deposits in financial institutions and Fed Funds sold     11,888       12,571     7,722     8,050       8,162       40,231       28,331  
    Equity securities and other investments     940       1,001     1,138     900       1,717       3,979       5,934  
    Total interest income     184,719       196,663     191,247     184,587       187,604       757,216       726,874  
    Interest expense:                            
    Transaction and savings deposits     44,841       47,208     45,619     46,784       46,225       184,452       148,975  
    Certificates and other time deposits     40,279       46,230     44,811     40,492       40,165       171,812       125,409  
    Advances from FHLB     130       47     1,468     1,391       2,581       3,036       41,024  
    Subordinated debentures and subordinated notes     3,328       3,116     3,113     3,114       3,100       12,671       12,352  
    Total interest expense     88,578       96,601     95,011     91,781       92,071       371,971       327,760  
    Net interest income     96,141       100,062     96,236     92,806       95,533       385,245       399,114  
    Provision for credit losses     2,300       4,000     8,250     7,500       9,500       22,050       42,512  
    (Benefit) provision for unfunded commitments     (401 )     —     —     (1,541 )     (1,500 )     (1,942 )     (2,041 )
    Net interest income after provisions     94,242       96,062     87,986     86,847       87,533       365,137       358,643  
    Noninterest income:                            
    Service charges and fees on deposit accounts     5,612       5,442     4,974     4,896       4,800       20,924       20,248  
    Loan fees     2,265       3,278     2,207     2,510       1,200       10,260       6,348  
    Loss on sales of debt securities     (4,397 )     —     —     (6,304 )     —       (10,701 )     (5,321 )
    Government guaranteed loan income, net     5,368       780     1,320     2,614       4,378       10,082       19,982  
    Equity method investment (loss) income     —       —     —     —       (29,417 )     —       (30,589 )
    Customer swap income     509       271     326     449       258       1,555       1,633  
    Other income     699       3,335     1,751     2,497       989       8,282       6,804  
    Total noninterest income (loss)     10,056       13,106     10,578     6,662       (17,792 )     40,402       19,105  
    Noninterest expense:                            
    Salaries and employee benefits     37,446       37,370     32,790     33,365       30,606       140,971       122,070  
    Occupancy and equipment     4,633       4,789     4,585     4,677       4,670       18,684       19,351  
    Professional and regulatory fees     5,564       4,903     5,617     6,053       7,626       22,137       26,166  
    Data processing and software expense     5,741       5,268     5,097     4,856       4,569       20,962       18,539  
    Marketing     2,896       2,781     1,976     1,546       1,945       9,199       8,704  
    Amortization of intangibles     2,437       2,438     2,438     2,438       2,438       9,751       9,838  
    Telephone and communications     323       335     365     261       356       1,284       1,551  
    Other     12,154       12,216     10,273     8,920       8,028       43,563       27,245  
    Total noninterest expense     71,194       70,100     63,141     62,116       60,238       266,551       233,464  
    Income before income tax expense     33,104       39,068     35,423     31,393       9,503       138,988       144,284  
    Income tax expense     8,222       8,067     8,221     7,237       6,004       31,747       36,023  
    Net income   $ 24,882     $ 31,001   $ 27,202   $ 24,156     $ 3,499     $ 107,241     $ 108,261  
                                 
    Basic EPS   $ 0.46     $ 0.57   $ 0.50   $ 0.44     $ 0.06     $ 1.97     $ 2.00  
    Diluted EPS   $ 0.45     $ 0.56   $ 0.50   $ 0.44     $ 0.06     $ 1.95     $ 1.98  
    Weighted average basic shares outstanding     54,489       54,409     54,457     54,444       54,327       54,450       54,256  
    Weighted average diluted shares outstanding     55,237       54,932     54,823     54,842       54,691       54,958       54,596  

     

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (Unaudited)

        For the Quarter Ended
        December 31, 2024   September 30, 2024   December 31, 2023
        Average
    Outstanding
    Balance    		   Interest
    Earned/
    Interest
    Paid    		   Average
    Yield/
    Rate    		   Average
    Outstanding
    Balance    		   Interest
    Earned/
    Interest
    Paid    		   Average
    Yield/
    Rate    		   Average
    Outstanding
    Balance    		   Interest
    Earned/
    Interest
    Paid    		   Average
    Yield/
    Rate
        (Dollars in thousands)
    Assets                                    
    Interest-earning assets:                                    
    Loans1   $ 8,957,193     $ 147,782   6.56 %   $ 9,184,182     $ 159,163   6.89 %   $ 9,280,439     $ 161,021   6.88 %
    LHI, MW     492,372       7,216   5.83       477,592       8,098   6.75       301,345       4,422   5.82  
    Debt securities     1,458,057       16,893   4.61       1,384,835       15,830   4.55       1,188,776       12,282   4.10  
    Interest-earning deposits in other banks     971,451       11,888   4.87       924,685       12,571   5.41       587,929       8,162   5.51  
    Equity securities and other investments     72,223       940   5.18       75,884       1,001   5.25       82,271       1,717   8.28  
    Total interest-earning assets     11,951,296       184,719   6.15       12,047,178       196,663   6.49       11,440,760       187,604   6.51  
    ACL     (117,293 )             (115,510 )             (111,937 )        
    Noninterest-earning assets     916,969               930,250               977,811          
    Total assets   $ 12,750,972             $ 12,861,918             $ 12,306,634          
                                         
    Liabilities and Stockholders’ Equity                                    
    Interest-bearing liabilities:                                    
    Interest-bearing demand and savings deposits   $ 5,001,159       44,841   3.57 %   $ 4,700,196     $ 47,208   4.00 %   $ 4,547,911       46,225   4.03 %
    Certificates and other time deposits     3,319,628       40,279   4.83       3,678,718       46,230   5.00       3,285,164       40,165   4.85  
    Advances from FHLB and Other     10,598       130   4.88       3,261       47   5.73       182,935       2,581   5.60  
    Subordinated debentures and subordinated notes     230,633       3,328   5.74       230,393       3,116   5.38       229,648       3,100   5.36  
    Total interest-bearing liabilities     8,562,018       88,578   4.12       8,612,568       96,601   4.46       8,245,658       92,071   4.43  
                                         
    Noninterest-bearing liabilities:                                    
    Noninterest-bearing deposits     2,400,809               2,486,676               2,322,555          
    Other liabilities     183,810               179,273               228,135          
    Total liabilities     11,146,637               11,278,517               10,796,348          
    Stockholders’ equity     1,604,335               1,583,401               1,510,286          
    Total liabilities and stockholders’ equity   $ 12,750,972             $ 12,861,918             $ 12,306,634          
                                         
    Net interest rate spread2           2.03 %           2.03 %           2.08 %
    Net interest income and margin3       $ 96,141   3.20 %       $ 100,062   3.30 %       $ 95,533   3.31 %

    1 Includes average outstanding balances of LHFS of $46.4 million, $54.3 million and $31.2 million for the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively, and average balances of LHI, excluding MW.
    2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.
    3 Net interest margin is equal to net interest income divided by average interest-earning assets.

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (Unaudited)

        For the Year Ended December 31,
          2024       2023  
        Average
    Outstanding
    Balance    		   Interest
    Earned/
    Interest
    Paid    		   Average
    Yield/
    Rate    		   Average
    Outstanding
    Balance    		   Interest
    Earned/
    Interest
    Paid    		   Average
    Yield/
    Rate
        (Dollars in thousands)
    Assets                        
    Interest-earning assets:                        
    Loans1   $ 9,191,753     $ 624,853   6.80 %   $ 9,244,070     $ 628,122   6.79 %
    LHI, MW     417,985       26,327   6.30       347,596       20,123   5.79  
    Debt securities     1,372,812       61,826   4.50       1,173,880       44,364   3.78  
    Interest-earning deposits in other banks     762,569       40,231   5.28       542,959       28,331   5.22  
    Equity securities and other investments     75,825       3,979   5.25       120,135       5,934   4.94  
    Total interest-earning assets     11,820,944       757,216   6.41       11,428,640       726,874   6.36  
    ACL     (115,259 )             (103,179 )        
    Noninterest-earning assets     927,178               957,286          
    Total assets   $ 12,632,863             $ 12,282,747          
                             
    Liabilities and Stockholders’ Equity                        
    Interest-bearing liabilities:                        
    Interest-bearing demand and savings deposits   $ 4,728,453       184,452   3.90     $ 4,197,517       148,975   3.55  
    Certificates and other time deposits     3,468,448       171,812   4.95       2,977,178       125,409   4.21  
    Advances from FHLB and Other     55,109       3,036   5.51       873,617       41,024   4.70  
    Subordinated debentures and subordinated notes     230,264       12,671   5.50       229,268       12,352   5.39  
    Total interest-bearing liabilities     8,482,274       371,971   4.39       8,277,580       327,760   3.96  
                             
    Noninterest-bearing liabilities:                        
    Noninterest-bearing deposits     2,397,681               2,309,983          
    Other liabilities     186,951               193,659          
    Total liabilities     11,066,906               10,781,222          
    Stockholders’ equity     1,565,957               1,501,525          
    Total liabilities and stockholders’ equity   $ 12,632,863             $ 12,282,747          
                             
    Net interest rate spread2           2.02 %           2.40 %
    Net interest income and margin3       $ 385,245   3.26 %       $ 399,114   3.49 %

    1Includes average outstanding balances of LHFS of $53.3 million and $25.7 million for the twelve months ended December 31, 2024 and 2023, respectively, and average balances of LHI, excluding MW.
    2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.
    3 Net interest margin is equal to net interest income divided by average interest-earning assets.

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (Unaudited)

    Yield Trend

        For the Quarter Ended
        Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023
    Average yield on interest-earning assets:                    
    Loans1   6.56 %   6.89 %   6.90 %   6.83 %   6.88 %
    LHI, MW   5.83     6.75     6.36     6.27     5.82  
    Total loans   6.53     6.89     6.88     6.81     6.85  
    Debt securities   4.61     4.55     4.58     4.25     4.10  
    Interest-bearing deposits in other banks   4.87     5.41     5.54     5.54     5.51  
    Equity securities and other investments   5.18     5.25     5.80     4.75     8.28  
    Total interest-earning assets   6.15 %   6.49 %   6.54 %   6.44 %   6.51 %
                         
    Average rate on interest-bearing liabilities:                    
    Interest-bearing demand and savings deposits   3.57 %   4.00 %   4.01 %   4.06 %   4.03 %
    Certificates and other time deposits   4.83     5.00     5.02     4.96     4.85  
    Advances from FHLB   4.88     5.73     5.54     5.54     5.60  
    Subordinated debentures and subordinated notes   5.74     5.38     5.44     5.45     5.36  
    Total interest-bearing liabilities   4.12 %   4.46 %   4.50 %   4.47 %   4.43 %
                         
    Net interest rate spread2   2.03 %   2.03 %   2.04 %   1.97 %   2.08 %
    Net interest margin3   3.20 %   3.30 %   3.29 %   3.24 %   3.31 %

    1 Includes average outstanding balances of LHFS of $46.4 million, $54.3 million, $58.5 million, $53.9 million and $31.2 million for the three months ended December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024 and December 31, 2023, respectively, and average balances of LHI, excluding MW.
    2 Net interest rate spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.
    3 Net interest margin is equal to net interest income divided by average interest-earning assets.

    Supplemental Yield Trend

        For the Quarter Ended   For the Year Ended
        Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023    		   Dec 31,
    2024    		   Dec 31,
    2023
    Average cost of interest-bearing deposits   4.07 %   4.44 %   4.46 %   4.43 %   4.38 %   4.35 %   3.82 %
    Average costs of total deposits, including noninterest-bearing   3.16     3.42     3.46     3.42     3.37     3.36     2.89  

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (Unaudited)

    LHI and Deposit Portfolio Composition

        Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024   Dec 31, 2023
        (In thousands, except percentages)
    LHI1                                        
    Commercial and Industrial (“C&I”)   $ 2,693,538     30.2 %   $ 2,728,544     30.2 %   $ 2,798,260     30.4 %   $ 2,785,987     30.1 %   $ 2,752,063     29.9 %
    Real Estate:                                        
    Owner occupied commercial (“OOCRE”)     780,003     8.8       807,223     8.9       806,285     8.7       788,376     8.5       794,088     8.6  
    Non-owner occupied commercial (“NOOCRE”)     2,382,499     26.7       2,338,094     25.9       2,369,848     25.7       2,352,993     25.5       2,350,725     25.5  
    Construction and land     1,303,711     14.7       1,436,540     15.8       1,536,580     16.7       1,568,257     16.9       1,734,254     18.8  
    Farmland     31,690     0.4       32,254     0.4       30,512     0.3       30,979     0.3       31,114     0.3  
    1-4 family residential     957,341     10.7       944,755     10.5       917,402     10.0       969,401     10.5       937,119     10.2  
    Multi-family residential     750,218     8.4       738,090     8.2       748,740     8.1       751,607     8.1       605,817     6.6  
    Consumer     9,115     0.1       11,292     0.1       9,245     0.1       8,882     0.1       10,149     0.1  
    Total LHI1   $ 8,908,115     100 %   $ 9,036,792     100 %   $ 9,216,872     100 %   $ 9,256,482     100 %   $ 9,215,329     100 %
                                             
    MW     605,411           630,650           568,047           449,531           377,796      
                                             
    Total LHI1   $ 9,513,526         $ 9,667,442         $ 9,784,919         $ 9,706,013         $ 9,593,125      
                                             
    Total LHFS     89,309           48,496           57,046           64,762           79,072      
                                             
    Total loans   $ 9,602,835         $ 9,715,938         $ 9,841,965         $ 9,770,775         $ 9,672,197      
                                             
    Deposits                                        
    Noninterest-bearing   $ 2,191,457     20.4 %   $ 2,643,894     24.0 %   $ 2,416,727     22.5 %   $ 2,349,211     22.1 %   $ 2,218,036     21.5 %
    Interest-bearing transaction     839,005     7.8       421,059     3.8       523,272     4.9       724,171     6.8       927,193     8.9  
    Money market     3,772,964     35.1       3,462,709     31.4       3,268,286     30.5       3,326,742     31.2       3,284,324     31.8  
    Savings     449,188     4.2       320,940     2.9       187,896     1.8       169,201     1.6       136,868     1.3  
    Certificates and other time deposits     2,958,861     27.5       3,625,920     32.8       3,744,596     34.9       3,486,805     32.7       3,191,737     30.9  
    Correspondent money market account     541,117     5.0       561,489     5.1       584,067     5.4       597,690     5.6       580,037     5.6  
    Total deposits   $ 10,752,592     100 %   $ 11,036,011     100 %   $ 10,724,844     100 %   $ 10,653,820     100 %   $ 10,338,195     100 %
                                             
    Total loans to total deposits ratio     89.3 %         88.0 %         91.8 %         91.7 %         93.6 %    
                                             
    Total loans to Deposit Ratio, excluding MW loans and LHFS     82.8 %         81.9 %         85.9 %         86.9 %         89.1 %    

    1 Total LHI does not include deferred costs of $9.0 million, $8.2 million, $7.8 million, $6.9 million and $8.8 million at December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024 and December 31, 2023, respectively.


    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Financial Highlights
    (Unaudited)

    Asset Quality

      For the Quarter Ended   For the Year Ended
      Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023    		   Dec 31,
    2024    		   Dec 31,
    2023
      (In thousands, except percentages)
    NPAs:                          
    Nonaccrual loans $ 52,521     $ 55,335     $ 58,537     $ 75,721     $ 79,133     $ 52,521     $ 79,133  
    Nonaccrual PCD loans1   —       70       73       9,419       13,715       —       13,715  
    Accruing loans 90 or more days past due2   1,914       2,860       143       220       2,975       1,914       2,975  
    Total nonperforming loans held for investment (“NPLs”)   54,435       58,265       58,753       85,360       95,823       54,435       95,823  
    Other real estate owned (“OREO”)   24,737       9,034       24,256       18,445       —       24,737       —  
    Total NPAs $ 79,172     $ 67,299     $ 83,009     $ 103,805     $ 95,823     $ 79,172     $ 95,823  
                               
    Charge-offs:                          
    1-4 family residential $ —     $ —     $ (31 )   $ —     $ (21 )   $ (31 )   $ (21 )
    Multifamily   —       —       (198 )     —       (192 )     (198 )     (192 )
    OOCRE   —       —       —       (120 )     (364 )     (120 )     (855 )
    NOOCRE   (5,113 )     —       (1,969 )     (4,293 )     (5,434 )     (11,375 )     (13,649 )
    C&I   (4,586 )     (2,259 )     (5,601 )     (946 )     (3,893 )     (13,392 )     (10,413 )
    Consumer   (420 )     (54 )     (30 )     (71 )     (33 )     (575 )     (236 )
    Total charge-offs $ (10,119 )   $ (2,313 )   $ (7,829 )   $ (5,430 )   $ (9,937 )   $ (25,691 )   $ (25,366 )
                               
    Recoveries:                          
    1-4 family residential $ 2     $ 3     $ —     $ 1     $ 1     $ 6     $ 3  
    OOCRE   —       —       120       —       —       120       —  
    NOOCRE   1,323       —       —       —       —       1,323       350  
    C&I   1,047       1,962       361       96       387       3,466       1,165  
    MW       46       —       —       —       46       —  
    Consumer   30       33       497       49       34       609       100  
    Total recoveries $ 2,402     $ 2,044     $ 978     $ 146     $ 422     $ 5,570     $ 1,618  
                               
    Net charge-offs $ (7,717 )   $ (269 )   $ (6,851 )   $ (5,284 )   $ (9,515 )   $ (20,121 )   $ (23,748 )
                               
    Provision for credit losses $ 2,300     $ 4,000     $ 8,250     $ 7,500     $ 9,500     $ 22,050     $ 42,512  
                               
    ACL $ 111,745     $ 117,162     $ 113,431     $ 112,032     $ 109,816     $ 111,745     $ 109,816  
                               
    Asset Quality Ratios:                          
    NPAs to total assets   0.62 %     0.52 %     0.65 %     0.82 %     0.77 %     0.62 %     0.77 %
    NPAs, excluding nonaccrual PCD loans, to total assets   0.62       0.52       0.65       0.74       0.66       0.62       0.66  
    NPAs to total loans and OREO   0.83       0.70       0.85       1.06       1.00       0.83       1.00  
    NPLs to total LHI   0.57       0.60       0.60       0.88       1.00       0.57       1.00  
    NPLs, excluding nonaccrual PCD loans, to total LHI   0.57       0.60       0.60       0.78       0.86       0.57       0.86  
    ACL to total LHI   1.18       1.21       1.16       1.15       1.14       1.18       1.14  
    ACL to total loans, excluding MW and LHFS   1.25       1.30       1.23       1.21       1.19       1.25       1.19  
    Net charge-offs to average loans outstanding3   0.32       0.01       0.28       0.22       0.40       0.21       0.25  

    1 Nonaccrual PCD loans consist of PCD loans that transitioned upon adoption of ASC 326 Financial Instruments – Credit Losses and were accounted for on a pooled basis that have subsequently been placed on nonaccrual status.
    2 Accruing loans greater than 90 days past due exclude PCD loans greater than 90 days past due that are accounted for on a pooled basis.
    3Annualized ratio for quarterly metrics.


    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Reconciliation of Non-GAAP Financial Measures
    (Unaudited)

    We identify certain financial measures discussed in this earnings release as being “non-GAAP financial measures.” In accordance with SEC rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP, in our statements of income, balance sheets or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios calculated using exclusively either one or both of (i) financial measures calculated in accordance with GAAP and (ii) operating measures or other measures that are not non-GAAP financial measures.

    The non-GAAP financial measures that we present in this earnings release should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that we present in this earnings release may differ from that of other companies reporting measures with similar names. You should understand how such other financial institutions calculate their financial measures that appear to be similar or have similar names to the non-GAAP financial measures we have discussed in this earnings release when comparing such non-GAAP financial measures.

    Tangible Book Value Per Common Share. Tangible book value per common share is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity less goodwill and core deposit intangibles, net of accumulated amortization; and (b) tangible book value per common share as tangible common equity (as described in clause (a)) divided by number of common shares outstanding. For tangible book value per common share, the most directly comparable financial measure calculated in accordance with GAAP is book value per common share.

    We believe that this measure is important to many investors in the marketplace who are interested in changes from period to period in book value per common share exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing total book value while not increasing our tangible book value.

    The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and presents our tangible book value per common share compared with our book value per common share:

        As of
        Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024   Dec 31, 2023
        (Dollars in thousands, except per share data)
    Tangible Common Equity                    
    Total stockholders’ equity   $ 1,601,069     $ 1,608,014     $ 1,548,616     $ 1,538,515     $ 1,531,323  
    Adjustments:                    
    Goodwill     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )
    Core deposit intangibles     (18,744 )     (21,182 )     (23,619 )     (26,057 )     (28,495 )
    Tangible common equity   $ 1,177,873     $ 1,182,380     $ 1,120,545     $ 1,108,006     $ 1,098,376  
    Common shares outstanding     54,517       54,446       54,350       54,496       54,338  
                         
    Book value per common share   $ 29.37     $ 29.53     $ 28.49     $ 28.23     $ 28.18  
    Tangible book value per common share   $ 21.61     $ 21.72     $ 20.62     $ 20.33     $ 20.21  

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Reconciliation of Non-GAAP Financial Measures
    (Unaudited)

    Tangible Common Equity to Tangible Assets. Tangible common equity to tangible assets is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders’ equity, less goodwill and core deposit intangibles, net of accumulated amortization; (b) tangible assets as total assets less goodwill and core deposit intangibles, net of accumulated amortization; and (c) tangible common equity to tangible assets as tangible common equity (as described in clause (a)) divided by tangible assets (as described in clause (b)). For tangible common equity to tangible assets, the most directly comparable financial measure calculated in accordance with GAAP is total stockholders’ equity to total assets.

    We believe that this measure is important to many investors in the marketplace who are interested in the relative changes from period to period in common equity and total assets, in each case, exclusive of changes in core deposit intangibles. Goodwill and other intangible assets have the effect of increasing both total stockholders’ equity and assets while not increasing our tangible common equity or tangible assets.

    The following table reconciles, as of the dates set forth below, total stockholders’ equity to tangible common equity and total assets to tangible assets and presents our tangible common equity to tangible assets:

        As of
        Dec 31, 2024   Sep 30, 2024   Jun 30, 2024   Mar 31, 2024   Dec 31, 2023
        (Dollars in thousands)
    Tangible Common Equity                    
    Total stockholders’ equity   $ 1,601,069     $ 1,608,014     $ 1,548,616     $ 1,538,515     $ 1,531,323  
    Adjustments:                    
    Goodwill     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )
    Core deposit intangibles     (18,744 )     (21,182 )     (23,619 )     (26,057 )     (28,495 )
    Tangible common equity   $ 1,177,873     $ 1,182,380     $ 1,120,545     $ 1,108,006     $ 1,098,376  
    Tangible Assets                    
    Total assets   $ 12,768,341     $ 13,042,976     $ 12,684,330     $ 12,708,396     $ 12,394,337  
    Adjustments:                    
    Goodwill     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )
    Core deposit intangibles     (18,744 )     (21,182 )     (23,619 )     (26,057 )     (28,495 )
    Tangible Assets   $ 12,345,145     $ 12,617,342     $ 12,256,259     $ 12,277,887     $ 11,961,390  
    Tangible Common Equity to Tangible Assets     9.54 %     9.37 %     9.14 %     9.02 %     9.18 %

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Reconciliation of Non-GAAP Financial Measures
    (Unaudited)

    Return on Average Tangible Common Equity. Return on average tangible common equity is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) net income available for common stockholders adjusted for amortization of core deposit intangibles (which we refer to as “return”) as net income, plus amortization of core deposit intangibles, less tax benefit at the statutory rate; (b) average tangible common equity as total average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization; and (c) return (as described in clause (a)) divided by average tangible common equity (as described in clause (b)). For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity.

    We believe that this measure is important to many investors in the marketplace who are interested in the return on common equity, exclusive of the impact of core deposit intangibles. Goodwill and core deposit intangibles have the effect of increasing total stockholders’ equity while not increasing our tangible common equity. This measure is particularly relevant to acquisitive institutions that may have higher balances in goodwill and core deposit intangibles than non-acquisitive institutions.

    The following table reconciles, as of the dates set forth below, average tangible common equity to average common equity and net income available for common stockholders adjusted for amortization of core deposit intangibles, net of taxes to net income and presents our return on average tangible common equity:

        For the Quarter Ended   For the Year Ended
        Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023    		   Dec 31,
    2024    		   Dec 31,
    2023
        (Dollars in thousands)
    Net income available for common stockholders adjusted for amortization of core deposit intangibles                            
    Net income   $ 24,882     $ 31,001     $ 27,202     $ 24,156     $ 3,499     $ 107,241     $ 108,261  
    Adjustments:                            
    Plus: Amortization of core deposit intangibles     2,437       2,438       2,438       2,438       2,438       9,751       9,752  
    Less: Tax benefit at the statutory rate     512       512       512       512       512       2,048       2,048  
    Net income available for common stockholders adjusted for amortization of core deposit intangibles   $ 26,807     $ 32,927     $ 29,128     $ 26,082     $ 5,425     $ 114,944     $ 115,965  
                                 
    Average Tangible Common Equity                            
    Total average stockholders’ equity   $ 1,604,335     $ 1,583,401     $ 1,541,609     $ 1,533,868     $ 1,510,286     $ 1,565,957     $ 1,501,525  
    Adjustments:                            
    Average goodwill     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )
    Average core deposit intangibles     (20,342 )     (22,789 )     (25,218 )     (27,656 )     (30,093 )     (23,988 )     (33,718 )
    Average tangible common equity   $ 1,179,541     $ 1,156,160     $ 1,111,939     $ 1,101,760     $ 1,075,741     $ 1,137,517     $ 1,063,355  
    Return on Average Tangible Common Equity (Annualized)     9.04 %     11.33 %     10.54 %     9.52 %     2.00 %     10.10 %     10.91 %

    VERITEX HOLDINGS, INC. AND SUBSIDIARIES
    Reconciliation of Non-GAAP Financial Measures
    (Unaudited)

    Operating Earnings, Pre-tax, Pre-provision Operating Earnings and performance metrics calculated using Operating Earnings and Pre-tax, Pre-provision Operating Earnings, including Diluted Operating Earnings per Share, Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Assets, Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Assets, Pre-tax, Pre-Provision Operating Return on Average Loans, Operating Return on Average Tangible Common Equity and Operating Efficiency Ratio. Operating earnings, pre-tax, pre-provision operating earnings and the performance metrics calculated using these metrics, listed below, are non-GAAP measures used by management to evaluate the Company’s financial performance. We calculate (a) operating earnings as net income plus equity method investment write-down, plus FDIC special assessment, plus severance payments, plus loss on sale of debt securities AFS, net, less tax impact of adjustments, plus nonrecurring tax adjustments. We calculate (b) diluted operating earnings per share as operating earnings as described in clause (a) divided by weighted average diluted shares outstanding. We calculate (c) pre-tax, pre-provision operating earnings as operating earnings as described in clause (a) plus provision for income taxes, plus benefit (provision) for credit losses and unfunded commitments. We calculate (d) pre-tax, pre-provision operating return on average assets as pre-tax, pre-provision operating earnings as described in clause (a) divided by total average assets. We calculate (e) operating return on average assets as operating earnings as described in clause (a) divided by total average assets. We calculate (f) operating return on average tangible common equity as operating earnings as described in clause (a), adjusted for the amortization of intangibles and tax benefit at the statutory rate, divided by total average tangible common equity (average stockholders’ equity less average goodwill and average core deposit intangibles, net of accumulated amortization). We calculate (g) operating efficiency ratio as noninterest expense plus adjustments to operating noninterest expense divided by noninterest income plus adjustments to operating noninterest income, plus net interest income

    We believe that these measures and the operating metrics calculated utilizing these measures are important to management and many investors in the marketplace who are interested in understanding the ongoing operating performance of the Company and provide meaningful comparisons to its peers.

    The following tables reconcile, as of the dates set forth below, operating net income and pre-tax, pre-provision operating earnings and related metrics:

        For the Quarter Ended   For the Year Ended
        Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023    		   Dec 31,
    2024    		   Dec 31,
    2023
        (Dollars in thousands, except per share data)
    Operating Earnings                            
    Net income   $ 24,882   $ 31,001   $ 27,202   $ 24,156   $ 3,499   $ 107,241   $ 108,261
    Plus: Equity method investment write-down     —     —     —     —     29,417     —     29,417
    Plus: FDIC special assessment     —     —     134     —     768     134     768
    Plus: Severance payments1     1,545     1,487     613     —     —     3,645     1,950
    Plus: Loss on sale of debt securities AFS, net     4,397     —     —     6,304     —     10,701     5,321
    Operating pre-tax income     30,824     32,488     27,949     30,460     33,684     121,721     145,717
    Less: Tax impact of adjustments     1,248     307     166     1,323     2,059     3,044     3,603
    Plus: Nonrecurring tax adjustments     193     —     527     —     —     720     —
    Operating earnings   $ 29,769   $ 32,181   $ 28,310   $ 29,137   $ 31,625   $ 119,397   $ 142,114
                                 
    Weighted average diluted shares outstanding     55,237     54,932     54,823     54,842     54,691     54,958     54,596
    Diluted EPS   $ 0.45   $ 0.56   $ 0.50   $ 0.44   $ 0.06   $ 1.95   $ 1.98
    Diluted operating EPS   $ 0.54   $ 0.59   $ 0.52   $ 0.53   $ 0.58   $ 2.17   $ 2.60

    1 Severance payments relate to restructurings made during the periods disclosed.

        For the Quarter Ended   For the Year Ended
    (Dollars in thousands)   Dec 31,
    2024    		   Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Dec 31,
    2023    		   Dec 31,
    2024    		   Dec 31,
    2023
    Pre-Tax, Pre-Provision Operating Earnings                            
    Net Income   $ 24,882     $ 31,001     $ 27,202     $ 24,156     $ 3,499     $ 107,241     $ 108,261  
    Plus: Provision for income taxes     8,222       8,067       8,221       7,237       6,004       31,747       36,023  
    Plus: Provision for credit losses and unfunded commitments     1,899       4,000       8,250       5,959       8,000       20,108       40,471  
    Plus: Severance payments     1,545       1,487       613       —       —       3,645       1,950  
    Plus: Loss on sale of AFS, net     4,397       —       —       6,304       —       10,701       5,321  
    Plus: Equity method investment write-down     —       —       —       —       29,417       —       29,417  
    Plus: FDIC special assessment     —       —       134       —       768       134       768  
    Net pre-tax, pre-provision operating earnings   $ 40,945     $ 44,555     $ 44,420     $ 43,656     $ 47,688     $ 173,576     $ 222,211  
                                 
    Average total assets   $ 12,750,972     $ 12,861,918     $ 12,578,706     $ 12,336,042     $ 12,306,634     $ 12,632,863     $ 12,282,747  
    Pre-tax, pre-provision operating return on average assets1     1.28 %     1.38 %     1.42 %     1.42 %     1.54 %     1.37 %     1.81 %
                                 
    Average loans   $ 9,449,565     $ 9,661,774     $ 9,765,428     $ 9,563,372     $ 9,581,784     $ 9,609,738     $ 9,591,666  
    Pre-tax, pre-provision operating return on average loans1     1.72 %     1.83 %     1.83 %     1.84 %     1.97 %     1.81 %     2.32 %
                                 
    Average Total Assets   $ 12,750,972     $ 12,861,918     $ 12,578,706     $ 12,336,042     $ 12,306,634     $ 12,632,863     $ 12,282,747  
    Return on average assets1     0.78 %     0.96 %     0.87 %     0.79 %     0.11 %     0.85 %     0.88 %
    Operating return on average assets1     0.93       1.00       0.91       0.95       1.02       0.95       1.16  
                                 
    Operating earnings adjusted for amortization of core deposit intangibles                            
    Operating earnings   $ 29,769     $ 32,181     $ 28,310     $ 29,137     $ 31,625     $ 119,397     $ 142,114  
    Adjustments:                            
    Plus: Amortization of core deposit intangibles     2,437       2,438       2,438       2,438       2,438       9,751       9,752  
    Less: Tax benefit at the statutory rate     512       512       512       512       512       2,048       2,048  
    Operating earnings adjusted for amortization of core deposit intangibles   $ 31,694     $ 34,107     $ 30,236     $ 31,063     $ 33,551     $ 127,100     $ 149,818  
                                 
    Average Tangible Common Equity                            
    Total average stockholders’ equity   $ 1,604,335     $ 1,583,401     $ 1,541,609     $ 1,533,868     $ 1,510,286     $ 1,565,957     $ 1,501,525  
    Adjustments:                            
    Less: Average goodwill     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )     (404,452 )
    Less: Average core deposit intangibles     (20,342 )     (22,789 )     (25,218 )     (27,656 )     (30,093 )     (23,988 )     (33,718 )
    Average tangible common equity   $ 1,179,541     $ 1,156,160     $ 1,111,939     $ 1,101,760     $ 1,075,741     $ 1,137,517     $ 1,063,355  
    Operating return on average tangible common equity1     10.69 %     11.74 %     10.94 %     11.34 %     12.37 %     11.17 %     14.09 %
                                 
    Efficiency ratio     67.04 %     61.94 %     59.11 %     62.45 %     77.49 %     62.62 %     55.82 %
    Operating efficiency ratio                            
    Net interest income   $ 96,141     $ 100,062     $ 96,236     $ 92,806     $ 95,533     $ 385,245     $ 399,114  
    Noninterest income (loss)     10,056       13,106       10,578       6,662       (17,792 )     40,402       19,105  
    Plus: Loss on sale of AFS, net     4,397       —       —       6,304       —       10,701       5,321  
    Plus: Equity method investment write-down     —       —       —       —       29,417       —       29,417  
    Operating noninterest income     14,453       13,106       10,578       12,966       11,625       51,103       53,843  
    Noninterest expense     71,194       70,100       63,141       62,116       60,238       266,551       233,464  
    Less: FDIC special assessment     —       —       134       —       768       134       768  
    Less: Severance payments     1,545       1,487       613       —       —       3,645       1,950  
    Operating noninterest expense   $ 69,649     $ 68,613     $ 62,394     $ 62,116     $ 59,470     $ 262,772     $ 230,746  
    Operating efficiency ratio     62.98 %     60.63 %     58.41 %     58.73 %     55.50 %     60.22 %     50.94 %

    1 Annualized ratio for quarterly metrics.

    The MIL Network –

  • MIL-OSI New Zealand: Business and Renewables – Fonterra announces electrification plans to future-proof operations

    Source: Fonterra

    Fonterra is taking another significant step toward its climate goals and operational resilience with $150 million in investments in electrification projects across the North Island over the next 18 months.

    Investments into electric boilers at the Co-operative’s Whareroa, Edgecumbe and Waitoa sites, along with further fleet decarbonisation, marks further steps in renewable energy supporting the Co-operative’s sustainability targets* while future-proofing operations.

    Fonterra aims to build enduring, cost-efficient assets while enhancing energy security across its manufacturing operations and ensuring a sustainable energy supply.  

    Fonterra’s Chief Operating Officer, Anna Palairet, says the investments are a significant step for the Co-operative’s future operations.

    “Last year we turned off the last coal boiler in the North Island, meaning manufacturing operations in the North Island are now coal-free. These investments are the next step in creating enduring assets that are fit for the future, as we look to reduce our reliance on gas.

    “Choosing the right energy solutions is about striking a balance between affordability, security of energy supply and reducing our environmental footprint, and the new electric boilers are crucial to navigating this challenge.”

    “These electrification projects are at the heart of ensuring efficient operations with a reliable energy supply for our manufacturing sites and to support the long-term sustainability of our business. It also represents a commitment to our farmer owners that we are building a resilient, future-ready Co-operative.”

    Investments announced are:

    Whareroa: The site will undergo a staged energy transformation with the first stage including the installation of two electrode boilers. The $64 million investment is expected to reduce the site’s annual emissions by an estimated 51,000 tonnes – the equivalent of removing around 21,000 cars from New Zealand roads – and contribute a 3% reduction** towards Fonterra’s overall 2030 Scope 1 and 2 GHG emissions reduction target.

    Edgecumbe: The site will transition from the use of steam and electricity generated through a co-generation plant, to a reliable source of renewable energy with the installation of a new electrode boiler. The $57 million investment is expected to reduce the site’s annual emissions by an estimated 28,000 tonnes – equivalent to removing around 11,000 cars from New Zealand roads – and contribute a 1.5% reduction** towards Fonterra’s overall 2030 Scope 1 and 2 GHG emissions reduction target and reduce the Co-op’s overall natural gas reliance by approximately 8%***.

    Waitoa and Waitoa UHT: Following the closure of its last coal boiler in November 2024, the Co-op is investing a further $18 million in installing two Resistive Element Boilers to boost heat production, while providing a secure and reliable energy source allowing for future growth in UHT processing.

    Fleet decarbonisation: The next step in looking for more economical solutions for the future includes a pilot of six EV tankers and associated infrastructure later in the year, expected to provide an approximately 60% annual reduction in fuel costs per tanker, along with environmental benefits.

    *The Co-operative’s target is 50.4% absolute reduction of Scope 1 & 2 GHG emissions by 2030 from a 2018 baseline.

    ** From a 2018 baseline.

    *** An approximate 8% reduction from the Co-op’s average annual natural gas usage from FY23 and FY24.

    About Fonterra

    Fonterra is a co-operative owned and supplied by thousands of farming families across Aotearoa New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers and employees share the goodness of our milk through innovative consumer, foodservice and ingredients brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. We are passionate about supporting our communities by Doing Good Together.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Wolf Moon in Washington

    Source: NASA

    A NASA photographer captured the full “wolf” moon rising over the Lincoln Memorial and Memorial Bridge on Jan. 13, 2025.
    The Maine Farmers’ Almanac began publishing Native American names for full moons in the 1930s. Over time, these names have become widely known and used. According to this almanac, the full moon in January is called the Wolf Moon, from the packs of wolves heard howling outside the villages amid the cold and deep snows of winter.
    Get tips and guides on skywatching.
    Image credit: NASA/Bill Ingalls

    MIL OSI USA News –

  • MIL-OSI Security: Albany Woman Indicted for Money Laundering

    Source: Office of United States Attorneys

    ALBANY, NEW YORK – Drasana Johnson, age 27, of Albany, has been indicted for laundering over $850,000 in stolen government funds, approximately $200,000 of which she used to purchase a residential property.

    United States Attorney Carla B. Freedman; Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI); and Charmeka Parker, Special Agent in Charge of the U.S. Department of Agriculture – Office of Inspector General (USDA-OIG) Northeast Region, made the announcement.

    The indictment alleges that from May 25, 2023, through June 30, 2023, Johnson conducted seven monetary transactions each of a value greater than $10,000 and derived from the theft of government property.

    According to a previously filed criminal complaint, Johnson laundered federal funds that Asjid Parvez stole from a U.S. Department of Agriculture program that helped struggling farmers pay off their loans. The charges in the indictment and complaint are merely accusations. The defendant is presumed innocent unless and until proven guilty.

    The money laundering charges carry a maximum term of 10 years in prison, and a term of supervised release of up to 3 years. A defendant’s sentence is imposed by a judge based on the particular statute the defendant is charged with violating, the U.S. Sentencing Guidelines, and other factors.

    Parvez, of Albany, was sentenced in May 2024 to 18 months in prison after pleading guilty to theft of federal funds.

    The FBI has already seized $516,974.54 traceable to the federal funds that Parvez stole, and the U.S. Attorney’s Office’s Asset Recovery Unit has filed a civil action seeking the forfeiture of a residential property in Albany that Johnson is accused of purchased using approximately $202,675 in stolen funds.

    The case is being investigated by the FBI and the USDA Office of Inspector General. Assistant U.S. Attorney Matthew M. Paulbeck is prosecuting the case and Assistant U.S. Attorney Elizabeth Conger is representing the United States in the asset forfeiture action.

    MIL Security OSI –

  • MIL-OSI USA: Does Bird Flu Affect My Food?

    Source: US State of Connecticut

    Bird flu (avian influenza) has become an increased concern in the health community throughout the United States.

    Within the past year, the disease has spread to cattle, and 68 people in North America have become ill from the disease and one has died.

    The thought of the potential risk of contracting the disease from store-bought foods prepared and consumed at home is concerning to many consumers.

    Here, UConn Extension educators provide information on how to prevent risk from bird flu exposure and how to prepare food properly to ensure food safety.

    What is Bird Flu and How Does it Spread?

    “Bird flu” is the name that has been used to describe a disease caused by the avian influenza virus (H5N1). It can spread among wild birds, poultry, cattle, pigs, and other animals.

    Although uncommon, in a few cases the avian influenza virus has crossed over and caused illness in people. Human infection can occur through contact with bodily fluids or feces (poop) of infected birds or animals, and from touching surfaces that have been in contact with infected birds or animals.

    Farm workers, hunters, and people who handle birds and animals for pets or livestock can be a risk for bird flu.

    How Can I Protect Myself from Bird Flu?

    Those who attend agricultural fairs, or visit farms should wash their hands thoroughly with soap and water after handling or petting birds and animals. Many areas have placed tighter restrictions on events such as petting zoos to minimize risk.

    Proper food safety practices including hand washing and kitchen hygiene reduce the risk and spread of foodborne illnesses, including bird flu.

    Thoroughly cooking poultry and meats kills harmful bacteria and viruses. Safely prepared and cooked poultry are safe to eat.

    Proper food safety practices are important every day. In addition to proper processing, proper handling and cooking of poultry provides protection from viruses and bacteria, including bird flu.

    Consuming raw milk can be risky because raw milk may contain viruses and bacteria. Pasteurization, a heat treatment process, effectively kills these harmful viruses and bacteria.

    How to Prepare Foods Safely

    Remember, follow these four basic food safety steps: Clean, Separate, Cook, and Chill.

    • Cook poultry to an internal temperature of at least 165 degrees Fahrenheit.
    • Ground beef should have a cooked temperature of 160 degrees Fahrenheit.
    • Whole cuts of beef should reach an internal temperature of 145 degrees Fahrenheit after resting for three minutes.
    • Keep raw poultry and meats separated from cooked foods to avoid cross-contamination.
    • Thoroughly wash all surfaces, utensils, and hands after handling raw and cooked foods.

    For more information, visit the CDC website or the USDA website. For more UConn Extension publications, visit the UConn Extension website.

    This work relates to CAHNR’s Strategic Vision area focused on Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

  • MIL-OSI USA: Luján Statement on Trump Administration Efforts to Withhold Approved Federal Funding

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)
    Trump Effort Defies Federal Law, Constitution to Withhold Approved Federal Funding
    Impact on New Mexico Would Be Unprecedented
    Washington, D.C. – U.S. Senator Ben Ray Luján (D-N.M.) issued the following statement regarding President Trump’s unlawful executive orders and new memoranda from the White House Office of Management and Budget (OMB) directing federal agencies to withhold federal funding that Congress has already appropriated: 
    “The Trump administration’s unlawful and unprecedented effort to withhold approved federal funding should cause concern to every American. Every county in New Mexico – our families, businesses, and communities – will be severely impacted and critical services and programs threatened. 
    “Billions of dollars for New Mexico and the nation are at stake. This will have a far-reaching impact across New Mexico, reducing health care access for working families, undercutting education programs for children, threatening research at the National Labs, rolling back our broadband efforts, holding funding for our specialty crop farmers, pausing VA transportation programs that help veterans get to medical appointments, and making it more difficult for law enforcement to keep our communities safe. This will create chaos and threaten local economies.
    “Let’s be clear: the Constitution holds that Congress holds the power of the purse. Congress is an equal branch of government. And now, Congress – Republicans and Democrats – must stand up to the president to ensure that the administration carries out the law.”
    A fact sheet detailing how presidents lack power to unilaterally override spending laws and deny enacted funding to communities through impoundment can be found here.

    MIL OSI USA News –

  • MIL-OSI Europe: Briefing – Foot and mouth disease: Fresh cause for concern – 28-01-2025

    Source: European Parliament

    It has been 14 years since the last outbreak of foot and mouth disease (FMD) in a European Union (EU) country. However, three water buffaloes have recently tested positive for the disease in Germany. While FMD poses no risk to human health, it is a highly contagious viral disease that can affect various cloven-hoofed animals. The speed with which the disease spreads makes it essential to cull all animals hosted on the affected farm once an outbreak is detected, and to apply strict biosecurity measures. This results in significant economic losses. As a result of the 2001 outbreak in the United Kingdom (UK), over 6 million animals were culled in one year, costing more than £3 billion (more than €6.5 billion at current prices) in public expenditure and having a huge impact on the tourism sector. The EU has legislation in place outlining rules for the prevention and control of animal diseases such as FMD, including a notification system integrated into the World Animal Health Information System to facilitate a coordinated approach. The European Commission also cooperates with the United Nations Food and Agriculture Organization (FAO) to fight the spread of the disease. Since 1990, the use of preventive vaccines against FMD has been prohibited in the EU, except for in certain cases and in emergencies. Although conventional FMD vaccines protect livestock from developing the disease, vaccinated animals may still become infected and carry the disease.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Non-conformity of feed used in the production of ‘Prosciutto di Parma’ PDO – E-000204/2025

    Source: European Parliament

    Question for written answer  E-000204/2025
    to the Commission
    Rule 144
    Cristina Guarda (Verts/ALE), Benedetta Scuderi (Verts/ALE)

    Article 47(2) of Regulation (EU) 2024/1143 on geographical indications provides that the amount of feed not originating in the demarcated geographical area may not exceed 50 % of dry matter each year. The product specification for ‘Prosciutto di Parma’ (Parma ham) has recently been amended to ensure compliance with this requirement regarding the origin of feed.

    A recent television investigation[1] carried out by RAI – Italian Radio Television – into Parma ham revealed a failure to comply with Article 47(2) of Regulation (EU) 2024/1143, highlighting in particular the clear failure to verify the origin of the feed for pigs intended for the production of such ham.

    In view of the above, can the Commission answer the following questions:

    • 1.Is the Commission aware of this situation and the infringement of EU law?
    • 2.Does it consider it appropriate to take action and request an intervention by the Italian Ministry of Agriculture, Food Sovereignty and Forestry to put an end to this situation that is detrimental to the consumer and to the system of certification of geographical indications?
    • 3.What is its assessment of hams from pigs reared on feed of unverified origin and their placing on the market following the entry into force of the new specification?

    Submitted: 17.1.2025

    • [1] Minuto 31 https://www.rai.it/programmi/report/inchieste/Il-virus-e-il-nemico-in-casa-bf8df870-3e2b-40f7-a0e0-f66979e908a4.html.
    Last updated: 28 January 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Request for clarification on the measures weakening the EU fruit-growing sector and benefiting third-country imports – E-000203/2025

    Source: European Parliament

    Question for written answer  E-000203/2025
    to the Commission
    Rule 144
    Anna Maria Cisint (PfE), Sergio Berlato (ECR), Aldo Patriciello (PfE), Silvia Sardone (PfE), Roberto Vannacci (PfE), Pietro Fiocchi (ECR), Carlo Fidanza (ECR), Alessandro Ciriani (ECR), Stefano Cavedagna (ECR), Raffaele Stancanelli (PfE), Susanna Ceccardi (PfE)

    European fruit and wine production is suffering from the decisions to reduce or ban a number of active substances that are needed to combat the most harmful plant diseases. These include the ban on outdoor use of thiamethoxam (Regulation (EU) 2023/334), which is used to target the American grapevine leafhopper (Scafoideus titanus), a vector of flavescence dorée disease, or the current proposals to ban the use of active substances that help to control the brown marmorated stink bug (Halymorpha halys), which would further damage Italian fruit growing. Over the last 15 years, Italy’s fruit and vegetable sector has lost 300 000 ha of farmland. Farmers are facing resistance in many fungal diseases, attacks by new alien pests and often extreme climate changes, severely affecting yields and harvesting options. These problems are compounded by incomprehensible import policies that benefit third countries and products grown with substances that are not authorised in the EU.

    In view of the above:

    • 1.When putting forward proposals to reduce or ban an active substance used in pest control, will the Commission assess in advance the existence and effectiveness of alternative tools, as well as the economic and social impact of the proposals?
    • 2.What initiatives will it put in place to provide tangible support for EU fruit growing?

    Submitted: 17.1.2025

    Last updated: 28 January 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Flooding and natural disasters in Rhodes and Lemnos – P-002710/2024(ASW)

    Source: European Parliament

    The whole EU territory is susceptible to climate change impacts[1]. As the first European Climate Risk Assessment underlined, risk ownership is shared across the EU, Member States, sub-national and private sector actors, along with the means and responsibility of acting on them. The Commission will continue to contribute to making Europe more climate resilient[2],[3], among others with a new EU Adaptation Plan.

    Adaptation measures that meet the relevant criteria are eligible for the 30% budget of the EU funds set aside for climate, including the Cohesion fund[4], Next Generation EU[5], the European Regional Development Fund[6], the Common Agriculture Policy[7] and LIFE[8]. Greece is already receiving substantial funding to prevent and manage climate-related flood risks[9].

    The EU Solidarity Fund (EUSF)[10] may cover part of the costs for emergency and recovery operations incurred by public authorities. Private damage is not eligible.

    It can only be activated at the request of a Member State which has a deadline of 12 weeks as from when the first damage occurred, demonstrating that the total direct damage exceeds the thresholds specified in Article 2 Regulation (EC) No 2012/2002.

    Greece requested EUSF assistance for the storm ‘Daniel’ disaster in November 2023. The Commission determined Greece’s application eligible for support and paid out EUR 101 million in 2024.

    Greece has not submitted an EUSF application due to the flooding of Rhodes and Lemnos at the end of November 2024.

    The Climate Change Mitigation and Adaptation subprogramme of the LIFE Programme[11] follows a bottom-up approach tailored to local needs and can also offer room for special attention to islands’ needs related to climate change.

    • [1] European Environment Agency, European Climate Risk Assessment, 2024.
    • [2] EU Strategy on Adaptation to Climate Change, COM(2021) 82 final.
    • [3]  COM(2024) 91 final.
    • [4] https://ec.europa.eu/regional_policy/en/funding/cohesion-fund/
    • [5] https://next-generation-eu.europa.eu/index_en
    • [6] https://ec.europa.eu/regional_policy/en/funding/erdf/
    • [7] https://ec.europa.eu/info/food-farming-fisheries/key-policies/common-agricultural-policy/rural-development_en
    • [8] LIFE, https://cinea.ec.europa.eu/life_en
    • [9] Under Greece’s 2021-2027 Partnership Agreement for Regional Development (ESPA), over EUR 726 million in public funding is allocated to prevent and manage climate-related flood risks.
    • [10] Council Regulation (EC) No 2012/2002 of 11 November 2002 establishing the European Union Solidarity Fund (OJ L 311, 14.11.2002, p. 3) as amended by Regulation (EU) No 661/2014 of the European Parliament and the Council of 15 May 2014 (OJ L 189, 27.6.2014, p. 143) and by Regulation (EU) 2020/461 of the European Parliament and the Council of 30 March 2020 (OJ L 99, 31.3.2020, p. 9): https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:32002R2012
    • [11] Budget of EUR 947 million for the period 2021-2027.
    Last updated: 28 January 2025

    MIL OSI Europe News –

  • MIL-Evening Report: As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost

    Source: The Conversation (Au and NZ) – By Danielle Celermajer, Professor of Sociology and Social Policy, University of Sydney

    As the 2019-2020 megafires took hold across eastern Australia, many of us reeled at the sight of animals trying and often failing to flee. Our screens filled up with images of koalas with burned paws and possums in firefighter helmets.

    The death toll was staggering, estimated at up to three billion wild animals killed or displaced. Millions more were severely injured. Tens of thousands of domesticated animals were killed or had to be euthanised.

    In fighting these fires, authorities focused almost entirely on protecting human lives and property, other than targeted rescue efforts for the last remaining wild stand of Wollemi pine. The role of rescuing and caring for domesticated and wild animals fell almost entirely to community groups and individual carers, who stepped up to fill the gap at significant cost to themselves – financially, emotionally and sometimes even at a risk to their safety.

    Our new research draws on more than 60 interviews with wildlife carers and groups in the Shoalhaven region south of Wollongong in New South Wales. These people spontaneously organised themselves to care for thousands of domesticated, farm and wild animals, from evacuating them from fire zones to giving them shelter, food, water and healthcare.

    The lengths our interviewees went to were extraordinary. But these rescue efforts were largely invisible to authorities – and, as our interviewees told us, sometimes even condemned as irresponsible.

    What did our interviews tell us?

    The standard view in Australia is that only humans matter in the face of bushfires. But the way affected communities reached out to save as many animals as they could shows many people think we ought to be acting differently.

    One interviewee told about screaming for “her babies” as Rural Fire Service firefighters evacuated her. In response, the firies searched the house for human babies to no avail. When they found out she meant her wombat joeys, they laughed in relief. But to our interviewee, the joeys were like her babies. The joeys were safe inside her house.

    People cared for a wide range of species, from horses, chickens, bees and cows to native birds, possums, wombats and wallabies. Despite this, we found common themes.

    Many people felt the system had let them down when it came to protecting animals. This is why many of them felt they had to take matters into their own hands to ensure that animals survived.

    As one interviewee told us:

    one thing that you have to realise, is people’s animals are their children, and they are their life. If you let someone think that their animal isn’t safe, they will put themselves in danger to try and get to that animal or save that animal […] That’s one thing the firies — you know, if they’re not an animal compassionate person, they don’t get that.

    While some guidance on disaster preparation talks about how to protect pets such as cats and dogs, wildlife carers, farmers and horse owners often found themselves facing incoming fires with little or no information or support.

    People also told us about a lack of information on how to care for different types of animals during disasters. Information was often nonexistent or hard to locate, making decision-making during the crisis very difficult.

    As one farmer told us:

    there’s not any information on realistically what you do with your animals in a case of […] a massive disaster. I mean, it’s like someone said about cutting the fences. But now you’ve got stocking cattle running through the bush and they don’t know where the fire’s going to turn or what’s going to happen.

    The needs of animals differ significantly. It’s harder to find shelter for a horse than a smaller animal, for instance. Wildlife being cared for already need assistance, due to being orphaned, injured or ill. It’s harder to evacuate injured animals or joeys who need regular feeding than it is to evacuate healthy adult animals.

    Our interviewees reported price spikes for transport, food, temporary fencing and medicines during the 2019-2020 emergency season. Caring for animals always comes with costs, but the cost burden intensified over the Black Summer and afterwards.

    Caring for animals came with another cost too, to mental health. Many of our interviewees told us they still felt traumatised, even though our interviews were two or three years after the fires.

    As one interviewee told us:

    the people at Lake Conjola […] said it was like an apocalypse. They said there was dead birds dropping out of the sky. Kangaroos would come hopping out of the bush on fire […] I know it really heavily affected most people on the beach, the horrific things that they saw.

    Despite facing a lack of formal support and with limited information, people organised themselves very quickly into networks to share access to safe land, transport, food, labour and information. Dedicated people set up social media groups to allocate tasks, call for help and so on. This unsung animal rescue effort was almost entirely driven by volunteers.

    What should we do before the next megafires?

    Australia will inevitably be hit by more megafires, as climate change brings more hot, dry fire weather and humidity falls over land.

    What would it mean to include animals in our planning? To start with, more and better information for wildlife carers, farmers, pet owners and the wider community. It would mean directing more funds to animal care, both during and after disasters, and including animal care in local, state and federal disaster planning. It would mean improving communication networks so people know where to go.

    To this end, we developed a new guide for communities wanting to be better prepared to help animals in the next disaster. We prototyped an app designed to help communities organise themselves in order to help animals during disasters.

    The scale of the Black Summer fires found governments and communities largely
    unprepared. But we are now in a position to learn from what happened.

    As authorities prepare for the next fires, they should broaden how they think about disaster preparation. Our research suggests disaster planning needs to take place at a community level, rather than a focus on individual households. And vitally, authorities need to think of communities as made up of both humans and animals, rather than just humans.

    This research project was funded by the Australian government via a Bushfire Recovery Grant from the Department of Industry, Science, Energy and Resources. It was conducted in partnership with the Shoalhaven City Council. This article was prepared solely by the University of Sydney research team and reflects our research and analysis only.

    This research project was funded by the Australian government via a Bushfire Recovery Grant from the Department of Industry, Science, Energy and Resources. It was conducted in partnership with the Shoalhaven City Council.

    – ref. As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost – https://theconversation.com/as-the-black-summer-megafires-neared-people-rallied-to-save-wildlife-and-domestic-animals-but-it-came-at-a-real-cost-248432

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Wyden, Dexter Urge Trump to Make Good on Campaign Promises to Lower Food Prices for American Families

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    January 28, 2025
    Washington, D.C. – U.S. Senator Ron Wyden and U.S. Representative Maxine Dexter today announced they have joined 19 legislative colleagues in a letter to Donald Trump urging him to take meaningful steps to lower grocery prices for American families.
    During his campaign, Trump repeatedly promised he would lower food prices “immediately” if elected. However, during his first week, none of the many executive orders he signed addressed any sort of plan to lower food costs.
    “Your sole action on costs was an executive order that contained only the barest mention of food prices and not a single specific policy to reduce them,” wrote the lawmakers. “You have tools you can use to lower grocery costs and crack down on corporate profiteering, and we write to ask if you will commit to using those tools to make good on your promises to the American people.”“To make food more affordable, you should look to the dominant food and grocery companies that have made record profits on the backs of working families who have had to pay higher prices,” continued the lawmakers. “If you are indeed committed to lowering food prices, we stand ready to work with you.”
    The lawmakers laid out six recommendations for executive actions to lower prices by encouraging competition and fighting price-gouging at each level of the food supply chain:

    Encourage the Federal Trade Commission (FTC) and U.S. Department of Agriculture (USDA) to prohibit exclusionary contracting by dominant firms in the food industry, making it harder for major retailers and food brands to shut out smaller suppliers and drive up prices at smaller stores.

    Encourage the FTC to issue guidance on potential violations of the Robinson Patman Act and Section 5 of the FTC Act within the food industry and take enforcement action where merited. 

    Work with the USDA to increase the number of government contract recipients that are very small businesses and to ensure that government contracting considers the long-term costs of food sector consolidation. 

    Help the Department of Justice (DOJ) and FTC scrutinize, and where appropriate, block mergers and acquisitions in the food and agricultural sectors.

    Encourage the DOJ to prosecute actors in the agricultural and food sectors for price-fixing and other anticompetitive behavior.

    Direct the Commodity Futures Trading Commission (CFTC) and FTC to form a joint task force to investigate food price manipulation throughout the supply chain. 

    “Americans are looking to you to lower food prices. Instead of working to lower their grocery bills, however, you have used the first week of your administration on attempting to end birthright citizenship, pardoning individuals who attacked the U.S. Capitol on January 6, and renaming a mountain,” concluded the lawmakers. “We urge you to make good on your campaign promise to lower food prices for American families.”Read the full text of the letter here.

    MIL OSI USA News –

  • MIL-OSI Economics: The value of AI: How Microsoft’s customers and partners are reinventing how they do business today

    Source: Microsoft

    Headline: The value of AI: How Microsoft’s customers and partners are reinventing how they do business today

    Organizational leaders in every industry around the world are evaluating ways AI can unlock opportunities, drive pragmatic innovation and yield value across their business. At Microsoft, we are dedicated to helping our customers accelerate AI Transformation by empowering human ambition with Copilots and agents, developing differentiated AI solutions and building scalable cybersecurity foundations. At Microsoft Ignite we made over 100 announcements that bring the latest innovation directly to our customers and partners, and shared how Microsoft is the only technology leader to offer three distinct AI platforms for them to build AI solutions:

    1. Copilot is your UI for AI, with Copilot Studio enabling low-code creation of agents and extensibility to your data.
    2. Azure AI Foundry is the only AI app server for building real-world, world-class, AI-native applications.
    3. Microsoft Fabric is the AI data platform that provides one common way to reason over your data —no matter where it lives.

    All three of these platforms are open and work synchronously to enable the development of modern AI solutions; and each is surrounded by our world-class security offerings so leaders can move their AI-first strategies forward with confidence.

    As we look ahead to what we can achieve together, I remain inspired by the work we are doing today. Below are a handful of the many stories from the past quarter highlighting the differentiated AI solutions our customers and partners are driving to move business forward across industries and realize pragmatic value. Their success clearly illustrates that real results can be harnessed from AI today, and it is changing the way organizations do business.

    To power its industrial IoT and AI platform, ABB Group leveraged Microsoft Azure OpenAI Service to create Genix Copilot: a generative AI-powered analytics suite aimed at solving some of the most complex industrial problems. The solution helps customers analyze key functions in their operations —such as asset and process performance, energy optimization and emission monitoring — with real-time operational insights. As a result, customers are seeing up to 35% savings in operations and maintenance, and up to 20% improvement in energy and emission optimization. ABB also saw an 80% decrease in service calls with the self-service capabilities of Genix Copilot.

    Serving government healthcare agencies across the US, Acentra Health turned to Microsoft to help introduce the latest AI capabilities that maximize talent and cut costs in a secure, HIPAA-compliant manner. Using Azure OpenAI Service, the company developed MedScribe — an AI-powered tool reducing the time specially trained nursing staff spend on appeal determination letters. This innovation saved 11,000 nursing hours and nearly $800,000, reducing time spent on each appeal determination letter by about 50%. MedScribe also significantly enhanced operational efficiency, enabling nurses to process 20 to 30 letters daily with a 99% approval rate.

    To ease challenges for small farmers, Romanian agribusiness group Agricover revolutionized access to credit by developing MyAgricover. Built with help from partner Avaelgo, the scalable digital platform utilizes Microsoft Azure, Azure API Management and Microsoft Fabric to automate the loan process and enable faster approvals and disbursements. This has empowered small farmers to grow their businesses and receive faster access to financing by reducing loan approval time by 90 percent — from 10 working days to a maximum of 24 hours.

    Building on its status as a world-class airline with a strong Indian identity, Air India sought ways to enhance customer support while managing costs. By developing AI.g, one of the industry’s first generative AI virtual assistants built on Azure OpenAI Service, the airline upgraded the customer experience. Today, 97% of customer queries are handled with full automation, resulting in millions of dollars of support costs saved and improved customer satisfaction — further positioning the airline for continued growth.

    BMW Group aimed to enhance data delivery efficiency and improve vehicle development and prototyping cycles by implementing a Mobile Data Recorder (MDR) solution with Azure App Service, Azure AI and Azure Kubernetes Service (AKS). The solution achieved 10 times more efficient data delivery, significantly improved data accessibility and elevated overall development quality. The MDR monitors and records more than 10,000 signals twice per second in every vehicle of BMW’s fleet of 3,500 development cars and transmits data within seconds to a centralized cloud back end. Using Azure AI Foundry and Azure OpenAI Service, BMW Group created an MDR copilot fueled by GPT-4o. Engineers can now chat with the interface using natural language, and the MDR copilot converts the conversations into KQL queries, simplifying access to technical insights. Moving from on-premises tools to a cloud-based system with faster data management also helps engineers troubleshoot in real time. The vehicle data covered by the system has doubled, and data delivery and analysis happen 10 times faster.

    Coles Group modernized its logistics and administrative applications using Microsoft Azure Stack HCI to scale its edge AI capabilities and improve efficiency and customer experience across its 1,800 stores. By expanding its Azure Stack HCI footprint from two stores to over 500, Coles achieved a six-fold increase in the pace of application deployment, significantly enhancing operational efficiency and enabling rapid innovation without disrupting workloads. The retailer is also using Azure Machine Learning to train and develop edge AI models, speeding up data annotation time for training models by 50%.

    Multinational advertising and media company Dentsu wanted to speed time to insights for its team of data scientists and media analysts to support its media planning and budget optimization. Using Microsoft Azure AI Foundry and Azure OpenAI Service, Dentsu developers built a predictive analytics copilot that uses conversational chat and draws on deep expertise in media forecasting, budgeting and optimization. This AI-driven tool has reduced time to media insights for employees and clients by 90% and cut analysis costs.

    To overcome the limitations of its current systems, scale operations and automate processes across millions of workflows, Docusign created the Intelligent Agreement Management (IAM) platform on Azure. Using Azure AI, Azure Cosmos DB, Azure Logic Apps and AKS, the platform transforms agreement data into actionable insights to enhance productivity and accelerate contract review cycles. IAM also ensures better collaboration and unification across business systems to provide secure solutions tailored to diverse customer needs. For example, its customer KPC Private funds reported a 70% reduction in time and resources dedicated to agreement processes.

    Emirates Global Aluminium (EGA) transformed its manufacturing operations by leveraging a hybrid environment with Azure Arc, Azure Stack HCI and Azure Kubernetes Service. This digital manufacturing platform resulted in 86% cost savings for AI image and video analytics and a 13-fold improvement in AI response times. The seamless hybrid cloud architecture has enhanced EGA’s operational efficiency and agility, supporting its Industry 4.0 transformation strategy.

    EY collaborated with Microsoft to enhance the inclusivity of AI development using Azure AI Studio. By involving neurodivergent technologists from EY’s Neuro-Diverse Centers of Excellence, they improved the accessibility and productivity of AI tools, resulting in more inclusive AI solutions, fostering innovation and ensuring that AI tools unlock the potential of all users. With an estimated 20% of the global workforce identifying as neurodivergent, inclusive AI solutions are crucial for maximizing creativity and productivity. Neurodivergent EY technologists also collaborated with Microsoft developers to make Azure AI Foundry more inclusive and help all users work productively to create innovative AI solutions.

    Colombian household appliance manufacturer Haceb integrated AI to optimize processes, reduce costs and improve service quality. Using Microsoft Copilot Studio and Azure OpenAI Service, the company created a virtual technical support assistant, saving its 245 technicians 5 minutes per visit — a total of 5,000 minutes saved daily. This AI solution has enhanced efficiency and boosted customer satisfaction by allowing for faster issue resolution. Haceb’s AI adoption has also empowered employees, boosted productivity and positioned the company as a leader in AI innovation in Colombia.

    To better serve its global patients, Operation Smile — in collaboration with partner Squadra — leveraged Azure AI, Machine Learning and Microsoft Fabric to develop an AI-powered solution to predict surgical outcomes and optimize resource allocation. This innovation resulted in a 30% increase in surgical efficiency, a 90% reduction in translation errors and improved patient outcomes. Additionally, report generation is now up to 95% quicker, and repeated medical events have decreased by 15%, enabling Operation Smile to provide better care to more children worldwide.

    Ontada — a McKesson business dedicated to oncology data and evidence, clinical education and point-of-care technologies — needed a way to generate key insights across 150 million unstructured oncology documents. Using Microsoft Azure AI and Azure OpenAI Service, Ontada developed a data platform solution called ON.Genuity to provide AI-driven insights into the patient journey, enhance patient trial matching and identify care gaps. The company also implemented large language models to target nearly 100 critical oncology data elements across 39 cancer types, enabling the company to analyze an estimated 70% of previously inaccessible data, reduce processing time by 75% and accelerate product time-to-market from months to just one week.

    As the UK’s largest pet care company, Pets at Home sought a way to combat fraud across its retail operations — particularly as its online business continued to grow. Working closely with its fraud team, it adopted Copilot Studio to develop an AI agent that quickly identifies suspicious transactions. The agent autonomously gathers relevant information, performs analysis and shares it with a fraud agent to enable a manual, data-intensive investigative process while ensuring a human remains in the loop. With this low-code agent extending and seamlessly integrating into existing systems, the company’s fraud department can act more quickly; what used to take 20 to 30 minutes is now handled by the AI agent within seconds. The company is identifying fraud 10 times faster and is processing 20 times more cases a day. Now, the company can operate at scale with speed, efficiency and accuracy — with savings expected to be in the seven figures as it continues to build more agents.

    Revenue Grid, a technology company specializing in sales engagement and revenue optimization solutions, partnered with Cloud Services to modernize its data infrastructure and develop a unified data warehouse capable of handling unstructured, semi-structured and structured data. By migrating to Microsoft Fabric, Revenue Grid can now deliver data-powered revenue intelligence, driven by a unified platform, elastic scalability, enhanced analytics capabilities and streamlined operations. Revenue Grid has reduced infrastructure costs by 60% while enhancing its analytical capabilities to improve real-time data processing, empowering sales teams with accurate and diverse data. 

    To better manage and integrate employee data across diverse regions and systems, UST built a comprehensive Employee Data platform on Microsoft Fabric. In under a year, UST migrated 20 years of employee data with all security measures to enhance data accessibility and employee productivity. The Meta Data Driven Integration (MDDI) framework in Fabric also helped the company cut data ingestion time by 50% so employees can focus more on analysis than preparation. As a result of this implementation, the company has seen an increase in collaboration and innovation from employees, helping put its values into action.

    The Microsoft Commercial Marketplace offers millions of customers worldwide a convenient place to find, try and buy software and services across 140 countries. As a Marketplace partner, WeTransact is helping independent software vendors (ISVs) list and transact their software solutions — and find opportunities for co-selling and extending their reach to enterprise customers through development of the WeTransact platform. Powered by Azure OpenAI Service, the platform is changing the way partnerships are being built by using AI pairing to facilitate a “plug and play” reseller network. More than 300 ISVs worldwide have joined the Microsoft Commercial Marketplace using the WeTransact platform, cutting their time to publish by 75%.

    The opportunity for AI to create value is no longer an ambition for the future — it is happening now, and organizational leaders across industries are investing in AI-first strategies to change the way they do business. We believe AI should empower human achievement and enrich the lives of employees; and we are uniquely differentiated to help you accelerate your AI Transformation responsibly and securely. Choosing the right technology provider comes down to trust, and I look forward to what we will achieve together as we partner with you on your AI journey.

    Tags: AI, Azure, Azure AI, Azure AI Foundry, Azure AI Studio, Azure Arc, Azure OpenAI Service, Azure Stack HCI, Copilot, Copilot Studio, Microsoft Fabric, Microsoft Ignite 2024

    MIL OSI Economics –

  • MIL-OSI Global: Five reasons why vertical farming is still the future, despite all the recent business failures

    Source: The Conversation – UK – By Gail Taylor, Dean of Life Sciences, UCL

    Don’t believe the tripe. Amorn Suriyan

    Plant factories are failing, with multiple companies closing or going bankrupt in recent months. This includes the largest vertical farm on the planet, in Compton, Los Angeles.

    Owned by San Francisco-based startup Plenty, the farm opened in 2023 to grow salads in partnership with Walmart. It was mothballed at the end of 2024, with the company citing the rising cost of energy in California as a major problem.

    Despite raising over US$1 billion (£802 million) from investors, the company’s value has reportedly plummeted from US$1.9 billion to below US$15 million. It now aims to focus solely on strawberry production in Virginia.

    New York-based Bowery Farming also halted all operations in late 2024, having previously being valued at US$2.3 billion. Fellow American vertical farmers AeroFarms, Kalera and AppHarvest have similarly filed for bankruptcy in the past two years, as has the UK’s Growing Underground, among various others.

    Clearly these are major setbacks. Year-round illuminated greenhouses and stacked, controlled-environment warehouses for producing food have been hailed as a sustainable alternative to traditional farming, promising fresh food close to populations.

    This reduces the need for transportation, which together with other issues in traditional farming such as soil degradation and forest clearing see it contributing around 20% of the greenhouse gases that lead to planetary warming and climate change.

    Multiple new indoor-farming companies sprang into life in the past decade, driven by significant venture capital. They harnessed the latest in LED lighting and hydroponic and aeroponic growing systems, using land and water ten to 100 times more efficiently than in a field and with far fewer pesticides.

    Initially developed to grow leafy greens and microgreens, these farms have more recently turned to higher value produce including herbs, strawberries, tomatoes and grapes.

    Grow, baby, grow.
    Gorodenkoff

    Among the reasons for the business failures are rising energy costs; the fact that traditional farming is cheaper, making it hard to compete on price; and the fact that rising interest rates have made financing more expensive.

    Together with other challenges such as high energy consumption and finding enough skilled labour, many opponents are writing this sector off as a fad that is unlikely to ever make a big impact on food security.

    This ignores success stories, such as JFC and Grow-up Farms, which are regular suppliers to the UK supermarkets. But more broadly, there are various reasons why the critics are likely to be wrong:

    1. We’re still early

    Vertical farming has been proving itself by “learning by doing” for the past decade. Kicked off by Nasa space scientists seeking to grow food in hostile environments with zero gravity and heavy radiation, this field is still highly experimental.

    New technologies like this one often conform to the Gartner hype cycle, where big initial expectations are rarely met, leading to a trough of disillusionment. Following this, the benefits start to crystallise as new players enter the market and mainstream adoption begins.

    Vertical farming is only a very small proportion of total farming, but it looks very likely to flourish given the need to reduce greenhouse-gas emissions, and the threats to food security from climate change and population growth. In addition, the costs are likely to be reduced by the arrival of much more renewable energy at cheaper prices in years to come.

    2. Heavy plant demand is coming

    Society stands on the edge of an unprecedented transformation as it shifts away from fossil fuels. We’re going to move to a circular bioeconomy, in which green plants will be central as feedstocks for everything from aviation fuels to alternative proteins to vaccine production to plant-based plastics.

    All this means greater pressure on land resources for food production, and an enhanced need for vertically stacked agriculture that recycles water and nutrients and requires fewer chemicals.

    3. Science is on its side

    Unexpected scientific discoveries continue to drive vertical farming. For example, tunable wavelength LEDs have shown that certain spectral bands can affect crops profoundly.

    Far-red light, which is just beyond visible red light, promotes growth and flowering, raising lettuce yields by 30%, for example. Blue light can improve shelf-life and nutritional quality, even enhancing certain plant chemicals known to help prevent cancers.

    The significance of these discoveries has yet to be fully realised, but by the complete control of the farming environment that indoor farming makes possible, we will be able to more easily tailor food quality for the betterment of people and the planet.

    4. It’s horses for courses

    Growing leafy greens indoors in California, as Plenty did, was always going to be challenging. This is the state where they invented the iceberg lettuce, where wall-to-wall sunshine and even temperatures enable farmers to grow enough salad greens to supply the whole of the US.

    Contrast Singapore, where only 6% of fresh produce is locally grown. This has prompted the government to develop the “30 x 30” goal to supply 30% of nutritional needs by 2030, with vertical farming a key part of the strategy.

    Similarly the United Arab Emirates imports over 90% of its food, and is looking towards a future that includes vertical farming. The UK and much of northern Europe, where the outdoor growing season is short and land is limited, can also benefit from these technologies (and indeed, do already).

    It’s a different story in Singapore.
    PrasitRodphan

    5. Baby and bathwater

    Unlike the cutting-edge LED-illuminated, stacked warehouses, intensive hydroponic greenhouses have been operating commercially for decades. The Netherlands leads the way in supplying year-round fresh produce from these structures, and is now the second biggest food exporter in the world.

    Even in the UK, its common for such greenhouses to supply potted herbs, tomatoes and strawberries all year round.

    These are a half-way house to vertical farming, and are also likely to be in greater demand in the coming decades. They could well extend their reach to supply fresh nutritious food to places where food security may be particularly challenged, such as Africa, south Asia and the Middle East.

    Gail Taylor has received funding for research on vertical farming from the John B. Orr Endowment from the University of California, Davis and gift funding from the company, Plenty. Between 2021 and 2024 she was a member of the Scientific Advisory Board for the company Plantible Foods.

    – ref. Five reasons why vertical farming is still the future, despite all the recent business failures – https://theconversation.com/five-reasons-why-vertical-farming-is-still-the-future-despite-all-the-recent-business-failures-248270

    MIL OSI – Global Reports –

  • MIL-OSI USA: Governor Stein Announces Pratt & Whitney Will Expand Manufacturing Operations in Asheville

    Source: US State of North Carolina

    Headline: Governor Stein Announces Pratt & Whitney Will Expand Manufacturing Operations in Asheville

    Governor Stein Announces Pratt & Whitney Will Expand Manufacturing Operations in Asheville
    bwood

    Raleigh, NC

    Today, Governor Stein announced that Pratt & Whitney, an RTX business (NYSE: RTX), will expand its turbine airfoil manufacturing plant in Buncombe County, a significant vote of confidence in western North Carolina. The company’s expansion project will create 325 additional jobs and includes an additional investment of $285 million in Asheville.  

    “Western North Carolina’s economy took it on the chin after Hurricane Helene, yet still it remains an incredible place to work and do business,” said Governor Josh Stein. “Pratt & Whitney clearly sees the opportunities in North Carolina and the strength of our highly skilled workforce. We look forward to welcoming them here.” 

    Pratt & Whitney is a world leader in the design, manufacture, and service of aircraft engines and auxiliary power units.  More than 17,000 customers operating in more than 200 countries and territories use Pratt & Whitney engines, with more than 90,000 engines currently in service.  The company’s Asheville facility, first announced in October 2020, produces high-tech turbine airfoils, an important component in aircraft jet engines.  The company’s new project will expand its production capacity to meet growing customer demand.

    “Pratt & Whitney’s continued investment in Asheville is critical to meet the growing demand for our products, such as the GTF for the A320family and the F135 for the F-35 Lightning II,” said Asheville General Manager for Pratt & Whitney Dan Field. “We would like to thank the state, Buncombe County and Governor Stein for their support on this project. This latest round of investment allows us to add critical process elements for the manufacture of turbine airfoils and increase the overall delivery output of this facility, enabling us to deliver on our customer commitments while creating hundreds of new jobs in the Asheville community.” 

    “The aviation industry is a key driver of North Carolina’s economic success and Pratt & Whitney’s decision strengthens our aerospace ecosystem substantially,” said Commerce Secretary Lee Lilley.  “We will continue to invest in support systems, like our community colleges and universities, that help employers like Pratt & Whitney succeed in our state—and bolster Western NC’s economy.”

    The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.

    The average salary for the new positions will be $62,413, compared with an average wage in Buncombe County of $55,416.  The new positions will bring an annual payroll impact to the community of more than $20 million per year. 

    The company’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by nearly $2.1 billion. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $4,202,250, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. 

    The project’s projected return on investment of public dollars is 317 per cent, meaning for every dollar of potential cost, the state receives $4.17 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.  

    Because Pratt & Whitney chose to expand in Buncombe County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $1,400,750 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Buncombe, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. 

    “Many local, regional, and state organizations have worked hard to bring this new economic development project to Buncombe County, all while working diligently through the many details of storm recovery,” said Representative Eric Ager. “We look forward to seeing Pratt & Whitney continue to thrive in our great community.” 

    Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Departments of Revenue and Transportation, N.C. Commerce’s Division of Workforce Solutions, the Office of Congressman Chuck Edwards, the Golden LEAF Foundation, Duke Energy, Asheville-Buncombe Technical Community College, Biltmore Farms, Buncombe County, the City of Asheville, and the Economic Development Coalition of Asheville and Buncombe County.  

    Jan 28, 2025

    MIL OSI USA News –

  • MIL-OSI: Bybit Web3 Launches Telegram Mini Wallet to Simplify Wallet Creation for Web2 Users

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Jan. 28, 2025 (GLOBE NEWSWIRE) — Bybit Web3, the Web3 division of Bybit, today announced the launch of its Telegram Mini Wallet, a significant step towards bridging the gap between Web2 and Web3. This innovative feature empowers users to seamlessly create and manage their Bybit Wallets directly within the popular Telegram messaging app, eliminating the need for separate app downloads and streamlining their Web3 journey. This integration reflects Bybit’s strategic commitment to simplifying access to blockchain technology for a broader audience, particularly Telegram’s active user base. 

    Key Features and Benefits of the Bybit Telegram Mini Wallet:

    • Simplified Onboarding: Allows users to create a Bybit Wallet easily within the Telegram interface.
    • Integrated Asset Management: Enables depositing, withdrawing, and managing crypto assets directly within Telegram.
    • Improved User Experience: Offers opportunities to participate in campaigns, engage with the Bybit ecosystem, and explore Web3 within Telegram.
    • Enhanced Accessibility: Aims to break down the barriers to entry for Web2 users and support broader blockchain adoption.

    “We’re thrilled to introduce the Telegram Mini Wallet — it’s a big step in our mission to bridge CeDeFi and become the gateway to everything on-chain,” said Emily Bao, Head of Spot and Web3. “By making wallet creation and management simpler, we’re opening the door for more people to experience the amazing possibilities of Web3. It’s all about making blockchain technology easy and accessible for everyone.”

    Exploring New Possibilities: Bybit Telegram Mini Wallet and FarmX Campaign

    The launch of the Telegram Mini Wallet aligns with the latest edition of FarmX, Bybit SpaceS’ flagship token farming initiative. This campaign features a prize pool exceeding $100,000, and an expanded selection of token rewards, including $PinEye, $FLOCK, and $USDT (via Tanssi).

    Over 20,000 users have already won USDT in previous FarmX campaigns, with more than 5,000 joining within 24 hours during a first-come, first-served event. One user earned around 50 USDT, demonstrating the potential rewards available. The upcoming campaign provides an expanded scope, featuring 50,000 slots available for users to claim potential rewards.

    The Telegram Mini Wallet addresses a common industry challenge: for many beginners, getting started with DeFi can be confusing, especially when it comes to choosing and setting up a Web3 wallet. By leveraging Telegram, a trusted platform familiar to millions, the Bybit Mini Telegram Wallet simplifies the process by allowing users to create and manage their Web3 wallet directly within the app. This seamless integration provides an easy and secure way for users to explore decentralized finance, offering a smoother introduction to owning and managing digital assets.

    Users can seamlessly connect via the Telegram Mini Wallet or their Bybit Wallet, streamlining their participation in FarmX. Moreover, holding or staking $TON unlocks exclusive perks, such as boosted rewards in the TON Pool, further enhancing the earning potential.

    Bybit’s Telegram Mini Wallet and FarmX campaign exemplifies its innovative approach to integrating social engagement with blockchain technology, empowering users with intuitive tools and generous rewards.

    #Bybit / #TheCryptoArk / #BybitWeb3

    About Bybit Web3

    Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

    Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.

    Join the revolution now and open the door to your Web3 future with Bybit.

    For more details about Bybit Web3, please visit Bybit Web3.

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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    The MIL Network –

  • MIL-OSI Canada: Mapping groundwater in southern Alberta

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI USA: Preventing the Spread of Avian Influenza

    Source: US State of New York

    Governor Kathy Hochul today announced New York State’s ongoing proactive measures to prevent the spread of the highly pathogenic avian influenza (HPAI) and facilitate early detection, particularly on New York farms. Following the detection of HPAI in poultry on a farm in Suffolk County and in several wild and domestic birds at a learning center in Putnam County, the State is encouraging organizations in contact with wild birds to remain vigilant for signs of illness in their domestic animals. Farms are urged to practice biosecurity measures to prevent the spread of the virus. While HPAI can spread quickly among wild birds and poultry, there have been no documented human cases in New York State, and the risk to humans is low.

    “At my direction, New York State is continuing to monitor for HPAI and take proactive measures to keep our communities safe,” Governor Hochul said. “While the risk to public health remains low, I encourage all New Yorkers, especially individuals frequently in contact with poultry and wild birds, to remain vigilant and take the necessary steps to protect our state.”

    New York State Department of Agriculture and Markets Commissioner Richard A. Ball said, “New York State has been monitoring for HPAI and taking a number of proactive measures to prevent the spread of HPAI in the state since the first detection in a backyard poultry operation here in 2022. The protocols we have in place, and continue to update, for early detection in poultry and livestock are working, helping us to identify cases and deploy resources to help. We encourage everyone who keeps poultry and livestock to be vigilant about minimizing their animals’ exposure to the virus and to wild bird populations and practice good biosecurity measures.”

    New York State Department of Health Commissioner Dr. James McDonald said, “As Highly Pathogenic Avian Influenza continues to be detected in New York State, we are remaining vigilant and are working closely with our state and local partners to minimize the risk to people who have or may come into contact with infected animals. The State Department of Health will continue to support farmers and other industry professionals who have contact with wild birds with resources and guidance. While the risk to humans remains low, we will continue to monitor these detections in animals including livestock and poultry to assess any potential risks to public health and safety.”

    New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “The DEC continues to work closely with State and federal partners to reduce the spread of HPAI. New Yorkers are encouraged to avoid direct contact with sick or dead wild birds and poultry, especially waterfowl and raptors, and hunters are reminded to not harvest sick or dead animals. People should report unusual wildlife mortalities to their local DEC regional office.”

    The New York State Department of Health is also reminding the public that this recent HPAI detection does not present an immediate public health concern. The State Department of Health is providing guidance and resources to the local health departments that responded to these two situations. Individuals who may have had contact with infected birds are being monitored for symptoms and will be evaluated for HPAI if any become sick.

    While both recent HPAI cases are under control and surveillance of surrounding farms continues, the State continues to urge those involved in poultry production to take extra steps to prevent their flocks from becoming infected. All poultry producers, from small backyard to large commercial operations, should review their biosecurity plans and take precautions to protect their birds. Poultry biosecurity materials and checklists can be found on the USDA’s “Defend the Flock” website.

    In addition to practicing good biosecurity, poultry owners should keep their birds away from wild ducks and geese and their droppings. Outdoor access for poultry should be limited at this time, particularly as the State continues to see HPAI detections in wild bird populations.

    To report sick birds, unexplained high number of deaths, or sudden drop in egg production, please contact the New York State Department of Agriculture and Markets (AGM) Division of Animal Industry at (518) 457-3502 or the USDA at (866) 536-7593.

    HPAI in Dairy Cattle
    AGM also recently announced that it is implementing new testing initiatives on dairy farms as part of its aggressive, proactive response to the outbreak of HPAI in livestock in other states. Working in close collaboration with federal partners, including USDA’s Animal and Plant Health Inspection Service, FDA, and the National Association of State Departments of Agriculture, and state partners, including the New York State Department of Health, this enhanced testing strategy is part of the State’s effort to protect animal and human health and prevent the transmission of HPAI in livestock in New York State. While there have been no detections of HPAI in livestock in New York to date, the State’s comprehensive approach is aimed at ensuring the state remains free of HPAI and facilitating early detection.

    In addition to the new testing initiative, New York State has implemented multiple preventative measures to protect animal and human health since the first detection of HPAI in dairy cattle in Texas in March 2024. In April, June, and August 2024, the Department issued orders on import requirements for dairy cattle coming into New York as well as testing requirements for lactating dairy cattle entering fairs or exhibitions. These orders continue to remain in place until further notice.

    USDA offers several producer support programs that are available to all dairy producers as well as certain programs only available to dairy producers with HPAI-positive herds. These programs include tools to support biosecurity planning and implementation as well as financial support programs to offset costs associated with HPAI testing, veterinary expenses, personal protective equipment purchases, milk disposal, and milk losses.

    MIL OSI USA News –

  • MIL-OSI USA: Welch, Collins Introduce Bipartisan Bills that Support Vermont’s Maple Industry 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) recently joined Senator Susan Collins (R-Maine) to introduce the Making Agricultural Products Locally Essential (MAPLE) Act and the Supporting All Producers (SAP) Act, two bipartisan, bicameral bills to support Vermont’s maple industry.  
    The MAPLE Act would provide a new market for maple syrup producers while increasing seniors’ access to nutritious, locally sourced maple syrup products by adding maple syrup to the eligible products under the Seniors Farmers Market Nutrition Program (SFMNP). SFMNP gives low-income seniors access to locally grown fruits, vegetables, honey, and herbs at farmers’ markets, roadside stands, and community-supported agriculture programs. The bill is cosponsored in the Senate by Minority Leader Chuck Schumer (D-N.Y.) and Senators Bernie Sanders (I-Vt.), Angus King (I-Maine), and Kirsten Gillibrand (D-N.Y.) and led in the House by Reps. Nick Langworthy (R-NY-23) and Joe Courtney (D-CT-02).  
    The SAP Act would require the U.S. Department of Agriculture to consult with maple producers when determining education and research priorities for the Acer Access and Development Program (Acer), a competitive grant program supporting research and education related to maple syrup production and sustainability in the industry. The bill is cosponsored in the Senate by Senator Angus King and is led in the House by Reps. Nick Langworthy and Becca Balint (VT-At-Large). 
    “Sharing our state’s world-class maple with families across the country is a lifelong tradition for Vermonters. Preserving this part of our culture is crucial to ensuring Vermont’s sugarmakers can continue setting the gold standard in maple production for generations to come,” said Senator Welch. “The MAPLE Act and the SAP Act are strong, bipartisan bills that will support Vermont’s first-in-the-nation maple industry, and benefit maple lovers and our local economy.” 
    “Maine is the third largest producer of pure maple syrup in the country, producing more than 575,000 gallons in a normal season, and bringing in more than $55 million to our state each year while supporting hundreds of local jobs,” said Senator Collins. “These bills support both local producers and consumers and make this market more accessible for all Mainers.” 
    “New York’s farmers and growers are some of the most important drivers of our state and district’s economy, and provide critical food resources to Americans,” said Rep. Langworthy. “These pieces of legislation are specifically crafted with the help of stakeholders and leaders to help our hardworking farmers and producers, benefit seniors, and help our rural communities grow. I was disappointed we couldn’t get bipartisan cooperation to get the Farm Bill passed in the last Congress, but I look forward to working with House Agriculture Chairman GT Thompson and my colleagues on both sides of the aisle to ensure these initiatives stay in the base text of the bill and we get it across the finish line.”  
    “The Seniors Farmer’s Market Nutrition Program (SFMNP) has long helped seniors afford fresh fruits, vegetables, honey, and herbs from their local farmers markets. My colleagues and I are working together once again to expand the program to allow local maple syrup to be purchased with SFMNP benefits,” said Rep. Courtney. “The MAPLE Act would help seniors afford high-quality local maple syrup while supporting Connecticut’s excellent maple syrup producers. I look forward to working with my colleagues and our maple syrup producers to see this bill advanced in the new Congress.”  
    “In Vermont, our tight-knit communities flourish in part because of the strength of our culture and family farms, which in many towns is driven by maple syrup production. Input from maple producers themselves will allow for further education and research methods to strengthen this critical industry. I’m proud to reintroduce this bipartisan legislation with Rep. Langworthy and Sen. Welch to support our region’s maple industry,” said Rep. Balint. 
    The MAPLE Act and SAP Act are endorsed by the Vermont Maple Sugar Makers Association, New York Farm Bureau, and the New York State Maple Producers Association. 
    Learn more about the MAPLE Act and read the full text of the bill. 
    Learn more about the SAP Act and read the full text of the bill.  

    MIL OSI USA News –