NewzIntel.com

Category: Americas

  • MIL-OSI USA: Connolly Applauds Court Decision Stopping Governor Youngkin’s Illegal Voter Purges

    Source: United States House of Representatives – Representative Gerry Connolly (D-Va)

    Connolly Applauds Court Decision Stopping Governor Youngkin’s Illegal Voter Purges

    Fairfax, VA, October 25, 2024

    Congressman Gerry Connolly (D-VA) released the following statement after a federal judge put an end to Governor Glenn Youngkin’s illegal voter roll purges happening within 90 days of an election:

    “Governor Youngkin’s effort to cancel voter registrations is clearly against federal law, which requires states to refrain from systematically purging voter rolls within 90 days of an election. I am grateful to the court for recognizing that reality. Voter fraud, particularly as it relates to citizenship, is exceedingly rare in Virginia. Governor Youngkin’s purges have served only one purpose – to disenfranchise thousands of lawfully voting citizens of the Commonwealth. That stops today.”

    Connolly wrote to Governor Youngkin on October 7 to urge him to cease the purging of voter rolls. Connolly also notified the Department of Justices of the purges.

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Panetta’s Statement Calling on Congress to Prioritize the Repeal of Outdated Trade Restrictions with Kazakhstan

    Source: United States House of Representatives – Congressman Jimmy Panetta (D-Calif)

    Monterey, CA – United States Representative Jimmy Panetta (CA-19), chair of the House Kazakhstan Caucus, released the following statement reiterating his call for the repeal of outdated trade restrictions with Kazakhstan:

    “As we approach Kazakhstan’s Republic Day, celebrating its sovereignty from the Soviet Union, I call on the U.S. Congress to prioritize the removal of the Jackson-Vanik Amendment as it applies to Kazakhstan.”

    “The Jackson-Vanik Amendment is a Cold War relic, interfering with the United States’ efforts to grow our trade and diplomatic relationships with countries that surround Russia. This amendment continues to prevent Kazakhstan from receiving Permanent Normal Trade Relations status, despite its full compliance with the Trade Act of 1974 and status as a country annually granted Normal Trade Relations.

    “Following the collapse of the Soviet Union, Congress removed the application of the Jackson-Vanik Amendment to numerous former Soviet states, including Albania, Estonia, Armenia, Ukraine, Georgia, Kyrgyzstan, and notably, Russia. Kazakhstan remains a glaring outlier.

    “Kazakhstan is a respected member of the World Trade Organization and a reliable partner in implementing U.S. sanctions and export control regimes. The bilateral trade relationship between the United States and Kazakhstan totals $2.5 billion each year. Strengthening our trade relationship with Kazakhstan has the potential to open a new trading partner for critical minerals and other resources while fostering greater investment and diplomatic ties between our two nations. It is long overdue to eliminate this outdated amendment’s application to Kazakhstan, and I will continue my efforts to achieve this goal.”

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    MIL OSI USA News –

  • MIL-OSI USA: NREL-Backed Research Effort Twists Halide Perovskites From a Distance

    Source: US National Renewable Energy Laboratory

    Research led by scientists at the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and the Center for Hybrid Organic Inorganic Semiconductors for Energy (CHOISE), an Energy Frontier Research Center (EFRC), discovered a new process to induce chirality in halide perovskite semiconductors, which could open the door to cutting-edge electronic applications.

    This illustration shows how the structure of a halide perovskite is distorted when it interacts with chiral molecules. Image from CHOISE

    The development is the latest in a series of advancements made by the team involving the introduction and control of chirality. Chirality refers to a structure that cannot be superimposed on its mirror image, such as a hand, and allows greater control of electrons by directing their “spin.” Most traditional optoelectronic devices in use today exploit control of charge and light but not the spin of the electron.

    The researchers have been able to create a spin-polarized LED using chiral perovskite semiconductor in the absence of extremely low temperatures and a magnetic field, as was previously reported. The newest advance accelerates the materials development process for spin control.

    The details are spelled out in a newly published paper, “Remote Chirality Transfer in Low-Dimensional Hybrid Metal Halide Semiconductors,” which appears in the journal Nature Chemistry. The key was in introducing a chiral molecule with a different headgroup into the perovskite. The chiral molecule intentionally does not fit into the perovskite lattice but “twists” the structure from the surface. The chiral molecule transfers its properties several unit cells or layers deep into the perovskite structure. This twist can be controlled by employing left- or right-handed chiral molecules into the grain boundaries and surfaces of a perovskite film, which control the spin properties accordingly. Such twisted structures enable unique functionalities for energy applications where spin-control adds additional potential by acting as electronic spin filters.

    Md Azimul Haque, the first author of the paper, said introducing chirality to the low-dimensional perovskite semiconductors generally includes a chiral molecule being present in the perovskite lattice, which needs extensive analysis every time one changes the composition of the chiral molecule. The ability of a proximal chiral molecule to transfer its properties without changing the perovskite composition makes the process simple, faster, and less limiting on the composition, he said.

    “We can create materials with known properties now with added chirality very easily compared to traditional methods,” said Haque, a postdoctoral researcher. “The next step is to experiment with the materials and incorporate them into new applications.”

    Funding for the research comes from the EFRC program of the Office of Science within the Department of Energy. The work relied on a broad range of expertise drawn from CHOISE, including NREL, University of Utah, University of Colorado Boulder, University of Wisconsin–Madison, and Duke University.

    Hybrid perovskites refer to a crystalline structure, containing both inorganic and organic components. In other semiconductors, such as those made from silicon, the material is purely inorganic and rigid. Hybrid perovskites are soft and more flexible, “so a twisting molecule on the surface, will extend the effect deeper into this semiconductor than it can in most rigid, inorganic semiconductors,” said Joey Luther, an NREL senior research fellow and corresponding author.

    His coauthors from NREL are Steven Harvey, Roman Brunecky, Jiselle Ye, Bennett Addison, Yifan Dong, Matthew Hautzinger, Kai Zhu, Jeffrey Blackburn, Joseph Berry, and Matt Beard. Other coauthors from CHOISE include Andrew Grieder, Yuan Ping, Junxiang Zhang, Seth R. Marder, Heshan Hewa Walpitage, Zeev Valy Vardeny, Yi Xie, and David B. Mitzi.

    “This is a new way to induce chirality in halide perovskites,” Luther said, “and it could lead to technologies that we can’t really envision but might be somewhere along the lines of polarized cameras, 3D displays, spin information transfer, optical computation, or better optical communication—things of that nature.”

    MIL OSI USA News –

  • MIL-OSI USA: High-Altitude ER-2 Flights Get Down-to-Earth Data

    Source: NASA

    Operating at altitudes above 99% of the Earth’s atmosphere, NASA’s ER-2 aircraft is the agency’s highest-flying airborne science platform. With its unique ability to observe from as high as 65,000 feet, the ER-2 aircraft is often a platform for Earth science that facilitates new and crucial information about our planet, especially when the plane is part of collaborative and multidisciplinary projects.
    “We’re deploying instruments and people everywhere from dry lakebeds in the desert to coastal oceans and from the stratosphere to marine layer clouds just above the surface,” said Kirk Knobelspiesse, an atmospheric scientist at NASA’s Goddard Space Flight Center.  “We live on a changing planet, and it is through collaborative projects that we can observe and understand those changes.”
    One mission that recently benefitted from the ER-2’s unique capabilities is the Plankton, Aerosol, Cloud, ocean Ecosystem Postlaunch Airborne eXperiment (PACE-PAX) project. The PACE-PAX mission uses the ER-2’s capabilities to confirm data collected from the PACE satellite, which launched in February 2024.
    The PACE observatory is making novel measurements of the ocean, atmosphere, and land surfaces, noted Knobelspiesse, the mission scientist for PACE-PAX. This mission is all about checking the accuracy of those new satellite measurements.

    “The ER-2 is the ideal platform for PACE-PAX because it’s about the closest we can get to putting instruments in orbit without actually doing so,” Knobelspiesse said.
    The collaborative project includes a diverse team of researchers from across NASA, plus the National Oceanic and Atmospheric Administration (NOAA), the Netherlands Institute for Space Research (SRON), the University of Maryland, Baltimore County, the Naval Postgraduate School, and other institutions.
    Similarly, the Geological Earth Mapping eXperiment (GEMx) science mission is using the ER-2 over multiple years to collect observations of critical mineral resources across the Western United States.
    “Flying at this altitude means the GEMx mission can acquire wide swaths of data with every overflight,” said Kevin Reath, NASA’s associate project manager for the GEMx mission, a collaboration between the United States Geological Survey (USGS) and NASA.

    The GEMx team collects visible, shortwave infrared, and thermal infrared data using instruments installed onboard the ER-2. Combining these instruments with the aircraft’s capability to fly at high altitudes bears promising results.
    “The dataset being produced is the largest airborne surface mineralogy dataset captured in a single NASA campaign,” Reath said. “These data could help inform federal, tribal, state, and community leaders to make decisions that protect or develop our environment.”
    Learn more about the ER-2 aircraft.
    Learn more about the PACE-PAX mission.
    Learn more about the GEMx mission.
    Learn more about NASA’s Airborne Science Program.

    MIL OSI USA News –

  • MIL-OSI USA: Powell Center Seminar: City-Scale Geothermal Energy Everywhere to Support Renewable Resilience – a Transcontinental Cooperation

    Source: US Geological Survey

    Powell Center Seminar: City-Scale Geothermal Energy Everywhere to Support Renewable Resilience – a Transcontinental Cooperation

    Join us for a Powell Center seminar on Tuesday, November 5th, from 10-11am MT/12-1pm ET.

    City-Scale Geothermal Energy Everywhere to Support Renewable Resilience – a Transcontinental Cooperation – Erick Burns, USGS

    Despite the proven efficacy of geothermal energy as a city-scale heating and cooling resource, the relative newness of most city-scale applications has resulted in limited widespread adoption.  Geothermal heating and cooling resources are ubiquitous and diverse, with technologies available both for harvesting ambient heat or for storing thermal energy.  These local low-carbon, baseload energy sources provide resilience, security, and local jobs.  As part of a U.S. Geological Survey hosted Powell Center project, a range of European and US partners (geological surveys, geoscience organizations, industry representatives and universities) seek an acceleration of understanding that could lead to adoption of geothermal technologies that offset shortcomings of other renewable technologies (e.g., episodic sources, and critical mineral demands).  Because better availability of geothermal energy will contribute to diversification of energy sources and improve global energy security, Powell Center team goals include the development of authoritative information suitable for city-managers and other decision-makers. 

    Speaker:

    Erick Burns is a Research Hydrologist and the Project Co-chief for the U.S. Geological Survey Geothermal Resources Investigations Project (GRIP).  He coordinates the research of ~30 scientists who are supported wholly, or in part, by the GRIP and a range of externally funded projects. He is the primary task-leader for: (1) development of updated new resource assessments for conventional hydrothermal and EGS electricity production in the western U.S., (2) development of local- and national-scale assessment tools for low-temperature and underground thermal energy storage (UTES) resources, and (3) joint-energy and water-resources studies in the northwest U.S. volcanic terranes. He leads multi-center/institution teams on machine learning for geothermal energy assessment, and on novel methods of characterizing and evaluating UTES resources (with the eventual goal of developing national maps of these resources).  He is a team-member of the USGS geologic energy storage project (as the thermal storage subject matter expert), and on projects developing temperature models for petroleum reservoirs. He has active collaborations in Europe and South America on these topics.

    Sign up to get direct emails for our future seminars!

    MIL OSI USA News –

  • MIL-OSI USA: Senator Marshall on Fox Business: President Trump’s Cabinet Must Be Confirmed ASAP

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Washington, D.C. – U.S. Senator Roger Marshall, M.D. joined Fox Business: The Bottom Line to discuss the Senate’s imminent vote to confirm Pete Hegseth as Secretary of Defense, the determination of the Republican-led Senate to confirm President Trump’s Cabinet and Robert F. Kennedy, Jr.’s upcoming Senate confirmation hearings.
    Senator Marshall sits on both the Senate Finance and Health, Education, Labor, and Pensions (HELP) Committees, both of which will be holding hearings next week to consider the nomination of RFK Jr. for Secretary of the Department of Health and Human Services (HHS). Senator Marshall has met with both Hegseth and RFK Jr. and believes they are the best picks to carry out President Trump’s America First Agenda at the DOD and HHS.

    You may click HERE or on the image above to watch Senator Marshall’s full interview.
    Highlights from Senator Marshall’s interview include:
    On Pete Hegseth being confirmed as Secretary of Defense, other Trump nominees on deck:
    “I’m sure optimistic. [Pete Hegseth is] on second base right now. He passed the procedural vote with one vote to spare. So I’m very optimistic. And I just want to emphasize why this is important. President Trump is issuing all these executive orders. We need these nominees then get in there to do the job and execute those orders. So we need Pete to jump in there. He’s going to do a great job recruiting, a great job with the morale, and just rewarding people for their merit, as opposed to anything else.”
    “[Democrats have] resorted to character assassination…But regardless, I think that once we get Pete across the finish line, Kristi Nome is on deck, she’s going to step up. I expect her to get across pretty easily, as you mentioned. Sean Duffy is there in the hole waiting as well. So I think we’re in good shape.”
    On GOP-led Senate’s determination to confirm President Trump’s Cabinet:
    “We’re willing to stay here and punish the Democrats. The good news is we had them kicking and screaming, so we’re over the target. We’re all committed to staying here this weekend. They can try to slow things down, and as long as they keep jamming us, we’re just going to stay up here and keep working away. I don’t think we’ll have to get to those recess appointments, but if necessary, we will. I’m really optimistic, if we just keep plugging away here, we’re going to get them all across the finish line.”
    On Robert F. Kennedy Jr.’s upcoming Senate confirmation hearing:
    “Look, he has an army of people behind him. I mean, just a groundswell of people out there. 77 million…people voted for President Trump, and one of the reasons was because of Bobby Kennedy Jr….I think that the American public is going to carry Bobby through that nomination process. He’s brilliant. He’s going to do a great job- all those things. And I think when people just listen to his heart, that he loves this country, that he wants to make America healthy again, and he knows how to do it, so I expect that groundswell of support to get him over the finish line.”

    MIL OSI USA News –

  • MIL-Evening Report: Want genuine progress towards restoring nature? Follow these 4 steps

    Source: The Conversation (Au and NZ) – By Yi Fei Chung, PhD candidate in Environmental Policy, The University of Queensland

    Black Dingo/Shutterstock

    “Nature positive” is seemingly everywhere. Two weeks ago, Australia hosted the first Global Nature Positive Summit. This week, nations are meeting in Colombia for a global biodiversity summit to discuss progress on nature positive commitments.

    Nature positive has a simple meaning: ensuring more nature in future than there is now. Making it a reality is the hard part.

    It’s necessary because nature is in trouble. Once common species are becoming threatened and threatened species are going extinct. Humans, too, will be severely impacted. When ecosystems are healthy, they provide vital benefits. Insects pollinate crops, trees slow floodwaters, earthworms, fungi and soil critters make healthy soil and natural vistas improve our mental wellbeing.

    While Australia’s government is working to embed nature positive ideas in environmental reform efforts, we may see lip service rather than real change. The government’s Nature Positive Plan faces opposition from businesses and politicians ahead of a looming election. And the plan itself doesn’t fully align with true nature positive outcomes.

    In our article published today in Science, we lay out four vital steps to ensure nature positive policies are actually positive for nature.

    Step 1: Ensure biodiversity increases are absolute

    At present, Australia’s planned nature positive reforms would only require developers removing habitat to achieve a relative net gain for nature compared to business as usual.

    We have argued this approach won’t work – it should be an absolute net gain.

    It might sound abstract – but it makes all the difference. For instance, consider a population of endangered koalas living on the site of a new mine. Any negative impact to koalas would have to be offset with a benefit to the species elsewhere, usually on a separate site.

    If Australia had absolute net gain in effect, the company would have to ensure there are more koalas overall. If the mine site and an offset site had a combined population of 100 koalas before the development, this combined population would need to be more than 100 koalas after the development – even though some will be lost.

    But let’s say these 100 koalas over two sites were expected to fall to 80, even if the mine didn’t happen. In this case, a relative net gain could be achieved if the mine and offset site had 90 koalas. The population fell, but less than it would have otherwise.

    Most state and national conservation laws use relative net gain in their biodiversity offsets. It slows the biodiversity decline – but it’s still a decline.

    By contrast, England brought in a net gain approach in February of this year, with developers now required to provide a 10% net gain in biodiversity.

    Importantly, the vast majority of developments affecting threatened species habitat never require any offset at all. Plugging this major gap is also key.



    Read more:
    Developers in England will be forced to create habitats for wildlife – here’s how it works

    For nature positive to work properly, any damage done to a species by a development has to be offset by net gain. Pictured: Peak Hill gold mine in NSW.
    Phillip Wittke/Shutterstock

    Step 2: Avoid conservation payments in risky situations

    The Australian government plans to introduce conservation payments, where developers can pay into a government-managed fund rather than providing direct offsets.

    If developers were to cut down trees used by the critically endangered Leadbeater’s possum, for example, they could choose either to improve habitat elsewhere to offset the damage – or they could pay into the fund instead.

    This is a risky plan. For one, it’s often almost impossible or extremely expensive to find suitable habitat for critically endangered species because they have very little habitat remaining.

    It’s far better to avoid all further habitat removal. For developers, this would mean avoiding damage to rare habitat in the first place.

    Even where offsetting is possible, payments are often inadequate to cover the cost of purchasing and managing an offset site.



    Read more:
    Developers aren’t paying enough to offset impacts on koalas and other endangered species

    Then there’s the time lag. The fund might take years to buy or restore habitat sites, adding to already-long delays between damage and any benefit. And worse, under the government’s proposal, the money could be used for different, potentially less threatened species.

    Under Queensland’s scheme, most developers choose to pay into a fund rather than create their own offset sites. Very little of these offset funds have been spent.

    Meanwhile, the latest independent assessment of the New South Wales biodiversity offset payment scheme recommended the fund be completely phased out.

    Step 3: Go beyond compensation

    Compensating for new damage is important. But it’s not nearly enough. Over the last century, we have done huge damage to the natural world. Australia’s southern seas were once ringed with oyster reefs, for instance, but these were nearly all fished out.

    We need to begin to recover what was lost by restoring ecosystems, managing weeds and reducing risk of diseases.

    Nature-positive laws should include funding and actions designed to produce absolute gains in biodiversity over and above any required compensation.

    The world has long seriously underfunded conservation, including threatened species recovery, ecosystem restoration and protected area management. Australia alone needs a roughly 20-fold increase in funding to actually bring back threatened species.

    While this sounds large, it’s off an extraordinarily low base – just A$122 million in 2019. By contrast, we spend over $100 billion on human health each year.

    Two years ago, the government passed the first of its nature-positive reforms to create a nature repair market aimed at drawing more funds into nature restoration. But as the market will rely on voluntary private sector investment, we don’t know how much funding will flow or whether it will focus on threatened species recovery.

    Step 4: Effectively implement nature positive laws

    Ensuring compliance with new nature-positive laws requires transparent and effective enforcement, such as through the independent national environment protection authority with extra powers proposed in Australia.

    Its independence and powers may be less than required, due to proposed call-in powers allowing the minister to overrule decisions. True independence and adequate resources are crucial.

    If governments do pass environmental reforms, we need to collect adequate and robust data on species to know if they are actually working to boost nature recovery. At present, many Australian threatened species remain unmonitored.

    Is nature positive within reach?

    It’s not easy to create a future with more nature than we have now. Australia’s current government took office vowing to embrace nature positive. To date, their reforms are not yet likely to make that a reality.



    Read more:
    Australia desperately needs a strong federal environmental protection agency. Our chances aren’t looking good

    But the task will only get more urgent. Meaningful nature-positive policy means ensuring targets of absolute net gain for threatened species, ensuring strict compensation for any nature loss, independently resourcing and financing other recovery efforts and implementing these laws effectively.

    With a course correction, Australia can still act as a leading example for other nations as they reform their own policies to meet nature-positive ambitions. Now is the time for real and decisive action.

    We acknowledge our research coauthors, Brooke Williams (Queensland University of Technology), Martine Maron (University of Queensland), Jonathan Rhodes (Queensland University of Technology), Jeremy Simmonds (2rog), and Michelle Ward (Griffith University).

    Yi Fei Chung has received funding from UQ Research Training Scholarship. He is also involving in a Australian Research Council Linkage Project with financial and in-kind support from the NSW Department of Planning and Environment, the Biodiversity Conservation Trust, Tweed Shire Council, and the NSW Koala Strategy.

    Hannah Thomas has received funding from WWF-Australia and an Australian Government Research Training Program Scholarship. She is an early-career leader with the Biodiversity Council.

    – ref. Want genuine progress towards restoring nature? Follow these 4 steps – https://theconversation.com/want-genuine-progress-towards-restoring-nature-follow-these-4-steps-240569

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: NBC News: Democratic senators slam McDonald’s for menu price hikes they say have outpaced inflation

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    October 22, 2024
    Three Democratic senators are asking McDonald’s about its menu price hikes in recent years, arguing that the increases are higher than they should be – even with inflation and rising operating costs.
    In a letter sent late Monday afternoon, Sens. Elizabeth Warren of Massachusetts, Bob Casey of Pennsylvania and Ron Wyden of Oregon demanded that McDonald’s President and CEO Chris Kempczinski explain the chain’s pricing decisions.
    “McDonald’s own reports indicate that the company’s price increases may be outstripping inflation,” read the letter, which was shared first with NBC News. 
    …
    Read the full story here.
    By:  Elizabeth ChuckSource: NBC News

    MIL OSI USA News –

  • MIL-OSI USA: The Verge: Democrats want DOJ to prosecute tax prep companies for privacy violations

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    October 22, 2024
    A group of Democratic lawmakers are urging the Justice Department to prosecute tax prep companies accused of improperly sharing user information with Meta and Google through their advertising pixels.
    Sens. Elizabeth Warren (D-MA), Ron Wyden (D-OR), Richard Blumenthal (D-CT), and Rep. Katie Porter (D-CA), are calling on the DOJ to take action against tax prep companies that they say failed to protect taxpayer privacy. In a new letter shared exclusively with The Verge, the lawmakers advance their previous calls for law enforcers to investigate these companies.
    …
    Read the full story here.
    By:  Lauren FeinerSource: The Verge

    MIL OSI USA News –

  • MIL-OSI USA: Bloomberg Law: Democrats Urge Biden: Fix Migrant Work Permit Backlog This Year

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    October 23, 2024
    Congressional Democrats Tuesday pressed the Department of Homeland Security to clear a backlog of 1.4 million work permit applications for migrants before the end of the year.
    Despite several policy changes to address wait times at US Citizenship and Immigration Services, more than 900,000 immigrants seeking their first work permits and half a million more looking to renew the documents remain “at the mercy of USCIS’s bureaucratic processing delays,” according to a letter from 70 House and Senate Democrats led by Sen. Elizabeth Warren (D-Mass.).
    Many temporary visa holders and people with humanitarian protections like asylum seekers must apply for Employment Authorization Documents before they can legally work in the US. Lawmakers urged the administration to act before Biden leaves office at the beginning of next year.
    …
    Read the full story here.
    By:  Andrew KreighbaumSource: Bloomberg Law
    Previous Article

    MIL OSI USA News –

  • MIL-OSI Canada: Feds gets it wrong… again: Joint Statement

    Source: Government of Canada regional news

    “Alberta has a long history of welcoming newcomers, and we plan to maintain that reputation. 

    “However, the federal government’s reckless and irresponsible open-border immigration policies, permitting almost 2 million newcomers to enter Canada last year alone, have led to unsustainable financial pressures on all provinces.

    “With the cost of food, energy, housing and everything else in this country increasing, and with tens of thousands of new people moving to Alberta monthly, our hospitals and schools are at or above capacity. 

    “As a province, we need a reprieve from this explosive population growth so we can catch up with these pressures. So do all provinces. 

    “The federal government’s plan to cut a mere 105,000 new permanent residents will not solve these pressures when they are bringing in almost 2 million additional people annually.

    “We call on the government to cut the number of newcomers to Canada from almost 2 million to well under 500,000 annually until further notice. 

    “Ottawa’s priority should be on reducing the number of temporary foreign workers, international students and asylum seekers—not on reducing provincially selected economic migrants.”

    MIL OSI Canada News –

  • MIL-OSI USA: THOMPSON INTRODUCES RESOLUTION CELEBRATING 15 YEARS OF OUTDOOR AFRO

    Source: United States House of Representatives – Congressman Mike Thompson Representing the 5th District of CALIFORNIA

    Washington – Today, Rep. Mike Thompson (CA-04) announced the introduction of a resolution alongside Reps. Steve Horsford (NV-04), Barbara Lee (CA-12), John Garamendi (CA-08), Steve Cohen (TN-09), Jared Huffman (CA-02), Nanette Barragán (CA-44), Troy A. Carter, Sr. (LA-02), Rep. Marc Veasey (TX-33), and Jim Costa (CA-21) to mark the 15-year anniversary of Outdoor Afro, a national not-for-profit organization connecting Black Americans with nature and outdoor recreation.

    “For 15 years, Outdoor Afro has worked to restore Black-American leadership in nature and reconnect Black Americans to our nation’s lands, water, and wildlife.” said Rep. Thompson. “It’s great to join my colleagues to recognize Outdoor Afro’s profound impact and celebrate their ongoing work to conserve public lands and make outdoor recreation activities more accessible.” 

    “On behalf of Outdoor Afro, I am deeply grateful for this recognition commemorating our 15th anniversary,” said Outdoor Afro Founder and CEO, Rue Mapp. “Over the past decade and a half, our work to reconnect Black communities with the outdoors has been made possible through the steadfast support of many congressional House and Senate Members, and three presidential administrations. This recognition symbolizes not only a milestone in our journey, but also a testament to the collective efforts of all who have believed in our mission that is shaping a better outdoor experience in our public lands for all.”

    “As we mark the 15th anniversary of Outdoor Afro, I’m proud to recognize local groups in my district like Black People Hike LV for their commitment to making the outdoors accessible,” said Rep. Horsford. “I’ve had the opportunity to hike with them just outside Las Vegas, and their work to connect our community with nature is important for our communities. These efforts help ensure everyone can enjoy and benefit from the beautiful natural spaces that Nevada has to offer.”

    “I am pleased to cosponsor this resolution recognizing the 15th anniversary of Outdoor Afro, a nonprofit organization that has made outdoor spaces more inclusive and accessible for all. Over the past 15 years, Outdoor Afro has worked tirelessly to reconnect Black communities with nature, fostering leadership and environmental stewardship across the country. By breaking down barriers and promoting diversity in outdoor recreation, they’ve ensured that our public lands truly belong to everyone. I’m proud to support this effort to honor their mission and look forward to many more years of their continued success,” said Rep. Garamendi.

    “I am inspired by how Outdoor Afro has opened doors to natural spaces and empowered communities of color to lead in environmental stewardship,” said Rep. Barragán. “Outdoor Afro has fostered a deep sense of community, healing, and environmental responsibility in the Black community. Their efforts ensure that future generations—especially those from underserved communities—will have the opportunity to both enjoy and protect our natural world. Nature belongs to everyone, and we should all learn to appreciate, interact with, and help preserve it.”

    “The 15th anniversary of Outdoor Afro shows that we have made progress reconnecting Black Americans with nature through thousands of outdoor events across the United States, challenging stereotypes, increasing representation, and fostering community healing and environmental stewardship. Outdoor Afro has broken barriers in outdoor education, empowering Black Americans to develop lifelong skills in land and water-based activities while leading the way for greater inclusion in outdoor recreation and conservation for all,” said Rep. Carter.  

    “Celebrating 15 years of Outdoor Afro is not just a milestone; it’s a testament to the resilience and unity of our community. Our Fresno Chapter exemplifies this through activities like camping, yoga, hiking, and beyond—that inspire Black leadership and forge lasting connections as seen during my recent visit to Nova Farming in my district. I’m proud to join my colleagues in recognizing this incredible organization and its impact on our communities,” said Rep. Costa.

    BACKGROUND

    In 2009, Oakland-native Rue Mapp started Outdoor Afro as a blog about nature. It has since grown into a cutting-edge nationwide network guiding hundreds of outdoor events each year designed to celebrate and inspire Black-American connections to nature.

    Over the past 15 years, Outdoor Afro has cultivated and trained more than 1,000 outdoor leaders, leading thousands of outdoor events and reaching well over 150,000 participants. Today, Outdoor Afro has volunteer leaders in 33 states and the District of Columbia and promotes Black Americans to participate in recreational activities like camping, hiking, birding, fishing, gardening, skiing, biking, environmental education, conservation stewardship and more.

    Outdoor Afro not only promotes a healthy lifestyle, but it also helps communities connect to Black history found in many natural areas and promotes the protection of vulnerable public lands for all to enjoy.

    Read the full text of the resolution here. 

    MIL OSI USA News –

  • MIL-OSI USA: Carter lands rail improvement grant for Brunswick Port

    Source: United States House of Representatives – Congressman Earl L Buddy Carter (GA-01)

    Headline: Carter lands rail improvement grant for Brunswick Port

    SAVANNAH – Following Rep. Earl L. “Buddy” Carter’s (R-GA) letter of support, the Federal Railroad Administration today awarded $26.5 million to the Georgia Ports Authority for construction of a new rail yard at the Port of Brunswick’s Colonel Island Auto Terminal. 


    As the fastest growing Ro/Ro port in the nation, this funding will allow the Port of Brunswick to handle the increased volume of U.S. automotive exports and imports moving through it, while fostering sustainable growth, safety, and environmental stewardship.


    “The entire nation will benefit from this investment in one of the most efficiently run and heavily utilized ports in the country,”     said Rep. Carter. “Georgia’s ports are the economic engine of the southeast. By increasing their capacity to handle the growth of our state’s automotive industry, we will strengthen our economy, create jobs, and export American-made vehicles worldwide.”


    This grant is funded through the Consolidated Rail Infrastructure and Safety Improvements Program.

    Read Rep. Carter’s letter of support here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Kaptur Announces $18.57 Million in Awards From the Federal Rail Administration to Northern Ohio & Western Railway and Napoleon, Defiance & Western Railway

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Toledo, Ohio – Today, Congresswoman Marcy Kaptur (OH-09) announced a total of $18.57 Million in awards from the Federal Rail Administration secured alongside the Ohio Rail Development Commission (ORDC) for Northern Ohio & Western Railway and Napoleon, Defiance & Western Railway.

    The first award for critical safety upgrades for Napoleon, Defiance & Western Railway totals $12.17 Million and was secured alongside the Ohio Rail Development Commission (ORDC) through the Bipartisan Infrastructure law, also known as the Infrastructure Investment and Jobs Act. The project involves final design and construction activities to replace deteriorating and broken rail and ties and expanded capacity along the eastern half of the Napoleon, Defiance & Western Railway. The project is the third and final phase of the full corridor rehabilitation of Napoleon, Defiance & Western track. The project aligns with the selection criteria by enhancing safety as the project will improve safety, resilience, and operational efficiency with added benefit to Paulding and Defiance Counties. The Ohio Rail Development Commission and Napoleon, Defiance & Western Railway will contribute 25 percent of the total project cost.

    The second award for major rail upgrades for Northern Ohio & Western Railway totals $6.4 Million and was secured alongside the Ohio Rail Development Commission (ORDC) also through the Bipartisan Infrastructure law. This involves construction to upgrade track infrastructure across the approximately 24-mile rail line owned by the Sandusky County, Seneca County, and the City of Tiffin Port Authority and is operated by the Northern Ohio & Western Railway. The project aligns with the selection criteria by enhancing safety and improving system and service performance as the project will return the line to FRA standards. The Ohio Rail Development Commission and the Sandusky County-Seneca County-City of Tiffin Port Authority will contribute 20 percent of the total project cost.

    “I am encouraged to see these new investments in rail coming to Northern Ohio, and I know that this will be transformative for the people of Defiance County, Sandusky County, and so many across our region. This funding continues the lasting impact of the Bipartisan Infrastructure Law as an engine of economic development for the state of Ohio,” said Congresswoman Marcy Kaptur (OH-09). “Rail safety was a major impetus for our desire to pass the Infrastructure Investment and Jobs Act, and now we are seeing investment and opportunity coming back to our region in transformational ways. We are working together to make our communities safer, and bring back major investment that underscores rail as the spine of our Northern Ohio economy. I will never stop fighting to deliver for the people of Northern Ohio.”

    These investments follow a $10,792,157 award Congresswoman Kaptur announced on October 3, 2023 for major rail upgrades for Napoleon, Defiance, & Western Railway. On September 22, 2023 Congresswoman Kaptur hosted a roundtable discussion on the future of passenger rail in Northern Ohio and the Great Lakes Region with participants including international, national, regional, and local transit, labor, and civic leaders and included FRA Administrator Amit Bose, Amtrak CEO Stephen Gardner, and Eddie Hall, President of the Brotherhood of Locomotive Engineers and Trainmen.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Defense Official Statement on AUKUS Pillar 2 and Exercise Maritime Big Play

    Source: United States Department of Defense

    The following statement can be attributed to Ms. Madeline Mortelmans who is currently performing the duties of the Assistant Secretary of Defense for Strategy, Plans and Capabilities. Her office is lead for both pillars of AUKUS within the department and is in close partnership with all of the DOD stakeholders.

    “Secretary Austin has said several times in the past that our alliances and partnerships are our greatest global strategic advantage. Specifically, AUKUS presents a unique opportunity for Australia, the United Kingdom and the United States to foster a more capable, more combined force of the future. And in so doing, we will strengthen deterrence in the Indo-Pacific.

    Through AUKUS, we are working across the full spectrum of capability development, generating requirements, co-developing new systems, deepening industrial based collaboration and ultimately delivering advanced capabilities to our forces. AUKUS Pillar 1 focuses these co-development efforts on delivering an advanced nuclear power submarine capability through the optimal pathway.

    Pillar 2 focuses on the development and delivery of emerging technology. AUKUS Pillar 2 is designed to harness the combined industrial and innovation bases of the tri-lateral partners to ensure that our forces are equipped with cutting edge interoperable military capabilities and prepared to face down aggression in whatever form it may take.

    In Pillar 2, we’re building a more capable combined joint force for the future, working across the full spectrum of capability development and we’re already delivering. This year, we’re advancing our undersea warfare capabilities by expanding our ability to launch and recover uncrewed underwater systems from torpedo tubes on current classes of British and US submarines, that will increase the range and capability of our undersea forces.

    We’re integrating the Stingray lightweight torpedo into the P-8A maritime patrol aircraft, which will support our forces in being more interchangeable while providing resilience to munitions stockpiles across AUKUS nations. At the same time, we’re also implementing a fundamental shift to more closely integrate our systems and break down barriers to collaboration at every stage and in every part of our systems.

    We’ve welcomed collaboration with the International Joint Requirements Oversight Council or I-JROC, a critical collaborative forum to identify and validate joint and combined requirements. The I-JROC will ensure that we have prioritized combined and joint solutions from the very start and that the capabilities we develop under Pillar 2 address some of the most pressing challenges our forces face.

    A cornerstone of AUKUS Pillar 2 remains the opportunity to leverage the best of our defense industrial bases in combined innovation communities. This year we executed the first office innovation challenge focused on electronic warfare. We announced the winners last month and our teams are working to develop a robust two-year plan to increase the collaboration between and among our innovation centers of excellence.

    By the end of the year, we’ll have convened meetings with the Advanced Capabilities Industry Forum in each country. Engagements provide an opportunity for representatives across government and industry to exchange ideas and deepen industrial based collaboration.

    This week we’re here in Jervis Bay to observe the Maritime Big Play, which is an important demonstration of AUKUS in action. The Maritime Big Play is a series of integrated trilateral experiments and exercises aimed at enhancing capability development, improving interoperability and increasing the sophistication and scale of autonomous systems in the maritime domain. These experiments address the need to expand the reach, capability and capacity of our forces in the maritime environment through the use of artificial intelligence and autonomous systems.

    Over the past several weeks, we’ve been testing and refining the ability to jointly operate uncrewed maritime systems, to share and process maritime data from all three nations, and to provide real time maritime domain awareness to support decision making. The Maritime Big Play allows AUKUS partners to practice fielding and maintaining thousands of uncrewed systems, gaining valuable experience operating in coalitions to solve realistic operational problems such as improving undersea situational awareness.

    Our work will inform AUKUS partners’ understanding of how crewed and uncrewed capabilities can be integrated to get an operational advantage, and where we can achieve cost savings and improved efficiencies in acquisition, maintenance and sustainment activities.

    Maritime Big Play isn’t just a demonstration for demonstration’s sake. It’s our goal to transition cutting edge technologies into capabilities that give our forces decisive advantage as quickly as we can. This year, Japan joined the Maritime Big Play as an observer. We look forward to deepening their participation in the coming years. All of this together underpins a more strategic approach to ensure that AUKUS and like-minded partners can operate new autonomous uncrewed systems more effectively as a coalition force from the start.

    This is only the first in our series of experiments and demonstrations. Over time, Maritime Big Play will grow and evolve to reflect the emerging technologies, new systems and new operational requirements. I want to emphasize that AUKUS is dynamic. It will grow, it will evolve as the world changes around us, and as we break down the old barriers to cooperation and inevitably discover new ones.

    AUKUS is building a foundation for deep defense industrial cooperation and delivering advanced capabilities that can and will ensure our defense forces succeed in enhancing peace and stability in the Indo-Pacific alongside UK and Australia partners both now and in the years ahead. Thank you.”

    MIL OSI USA News –

  • MIL-OSI USA: Public invited to send ornaments for North Dakota State Christmas Tree

    Source: US State of North Dakota

    The Office of the First Lady invites artists and craftspeople to provide handmade ornaments for the North Dakota State Christmas Tree. The tree will be on display in Memorial Hall at the state Capitol starting with a tree lighting ceremony on Dec. 5. 

    Submitted ornaments can vary from traditional to contemporary arts. Items that are commercially produced or made from kits are not eligible. This year’s theme, “Branches of Hope,” is inspired by First Lady Kathryn Burgum’s initiative to end the stigma surrounding the disease of addiction. Just as a tree’s branches extend outward, the theme symbolizes how hope reaches everyone impacted by addiction. Ornaments may reflect personal recovery journeys, support systems or community resources, showcasing how hope branches out in many meaningful ways. Designers are also free to create ornaments in any shape or medium of their choosing.

    Each ornament should include the name of the person entering it, their email address and a brief one- or two-line description of the ornament, including the art form used and the special circumstances through which it was created, such as a class or senior center project.

     

    Ornaments must be received in the Office of Management and Budget office no later than Dec. 4. The ornaments become the property of the Office of the First Lady and may be hung on the state tree in ensuing years. Mail ornaments to State of North Dakota, Office of Management and Budget, Julie Strom, 600 E. Boulevard Ave., Bismarck, N.D. 58505.

     

    Gov. Doug Burgum and the first lady encourage the public to join them for holiday readings, music and carols at the annual North Dakota State Christmas Tree Lighting ceremony at 5:30 p.m. Dec. 5 in Memorial Hall at the Capitol.

     

    MIL OSI USA News –

  • MIL-OSI USA: Rohr Chosen For Board of Public School Education

    Source: US State of North Dakota

    North Dakota School Superintendent Kirsten Baesler said Thursday that Jamestown school board member Jason Rohr has been appointed to the state Board of Public School Education.

    Gov. Doug Burgum appointed Rohr to complete the term of Burdell Johnson, who resigned in August. The term ends June 30, 2026. Burgum chose Rohr from a list of four candidates suggested by a nominating committee of education stakeholders.

    Rohr will represent Burleigh, Stutsman, Eddy, Foster, Kidder, McLean, Sheridan, and Wells counties on the board. Six of its members are appointed by the governor for six-year terms. They represent different groups of counties. Baesler is the seventh member and serves as the board’s executive secretary.

    Members of the Board of Public School Education are concurrent members of the state Board of Career and Technical Education, which supervises North Dakota’s Department of Career and Technical Education and its programs.

    The board also oversees North Dakota’s six regional education associations and the North Dakota K-12 Education Coordination Council, which encourages collaboration among education stakeholders, supports education innovation, and advises the state Legislature. 

    Most of the Board of Public School Education’s work involves deciding school district requests to transfer property, reorganize, or dissolve. It normally meets 10 times a year.

    MIL OSI USA News –

  • MIL-OSI USA: Burgum highlights impact of Destination Development program with ribbon cutting for Good Bear Bay Lodge

    Source: US State of North Dakota

    Gov. Doug Burgum along with North Dakota Department of Commerce Tourism and Marketing Director Sara Otte Coleman and others celebrated the opening today of the Good Bear Bay Lodge at Indian Hills Resort, a unique new lodging option on the shores of Lake Sakakawea. 

    The Good Bear Bay Lodge fills a gap in the area’s lodging options, offering a spacious 4-bedroom, 2.5-bath lodge ideal for families or larger groups. It boasts a full kitchen, a comfortable living area and, as a highlight, an extended covered outdoor patio that provides an additional gathering space.

    “North Dakota’s tourism industry continues to thrive, and the Good Bear Bay Lodge is a shining example of how expanding services at one of our state’s key destinations, Lake Sakakawea, can help us attract more visitors from across the country and address our workforce challenges,” Burgum said. “This new lodge provides a unique accommodation option for families and groups seeking a memorable escape on Lake Sakakawea.”

    The lodge was made possible with the help of the Commerce’s Destination Development Grant program, which was approved by the state Legislature in 2023 and signed into law by Burgum. The program awarded $25 million in matching grants to 14 projects last November. 

    “There was tremendous interest in the program, with 81 projects requesting more than $151.5 million in funding,” Otte Coleman said. “The Good Bear Bay Lodge stood out for its ability to fill a gap in family lodging and extend the time visitors spend in our state’s most scenic areas.”  

    The Good Bear Bay Lodge is built on a slab foundation, ensuring easy accessibility for guests of all abilities. The lodge is open year-round, allowing visitors to enjoy everything Lake Sakakawea has to offer, from ice fishing in the winter to summer water sports and fall hunting.

    “We are thrilled to open the Good Bear Bay Lodge and provide families and groups with a comfortable and convenient place to stay,” said Kelly Sorge, co-owner of Indian Hills Resort. “We’ve received a lot of interest already, and we’re excited to welcome guests and share the beauty of Lake Sakakawea.”

    Indian Hills Resort offers a variety of experiences for guests, including kayak and paddleboard rentals, a pontoon for rent, and guide services. The resort is also pet-friendly and caters to the needs of hunters, fishermen and families with children. 

    Today’s ribbon cutting marks the second opening of a project completed with Destination Development grant support in as many months. On Sept. 11, Lt. Gov. Tammy Miller attended the unveiling of Citizens Alley, a public space in downtown Minot for recreation and community engagement. Miller also attended the groundbreaking in August for a new events center at Woodland Resort on the shores of Devils Lake, another Destination Development project. 

    MIL OSI USA News –

  • MIL-OSI USA: North Dakota Development Fund Awards $5 Million to Support Automation Projects in 13 Communities

    Source: US State of North Dakota

    The North Dakota Development Fund (NDDF) received $5 million in American Rescue Plan Act (ARPA) funding during the 67th Legislative Assembly Special Session to create Automate ND, a grant program addressing workforce shortages by enabling companies to invest in automation equipment. This initiative helps companies increase productivity, improve working conditions, and drive revenue growth, all while contributing to North Dakota’s economic expansion. 

    “The Automate ND program received overwhelming interest, with 42 projects across 21 communities requesting over $11.8 million. We were able to fund 18 projects, showing a clear demand from businesses looking to leverage automation as a solution to workforce constraints,” said Shayden Akason, Deputy Director of Economic Development and Finance at Commerce. “To keep up with growing demand, it’s vital that we recruit and retain a qualified workforce while also supporting automation investments. North Dakota has a history of innovation, and this program is another step in helping businesses stay at the forefront of innovation. 

     

    The awarded projects span various industries, including manufacturing, agriculture, and advanced technology, focusing on automating essential processes. Notable recipients include: 

     

    • Precision Equipment Manufacturing, LLC (Fargo) – $97,386.79 for robotic welding and tooling equipment. This trailer manufacturer has been fabricating components in North Dakota for 20 years (total project cost: $207,616.87).  
    • Agri-Cover, Inc. (Jamestown) – $282,924.00 for robot arms and autonomous carts. Agri-Cover manufactures roll-up/hard covers for pickups, truck toppers, and pickup racks (total project cost: $709,783.00). 
    • Amber Waves, Inc. (Richardton) – $142,382.16 to automate a wash bay. Amber Waves specializes in hopper bottom grain bins (total project cost: $348,814.32). 
    • Marv Haugen Enterprises, Inc. (Casselton) – $267,862.50 for a robotic welding cell. This company manufactures over 100 types of telehandler, Skid-Steer, and wheel loader attachments (total project cost: $553,095.00). 
    • Northland Truss Systems, Inc. (Abercrombie) – $483,431.73 for an autonomous linear saw, jigging, and laser system. Northland Truss manufactures wood truss systems (total project cost: $1,016,606.46). 
    • ComDel Innovation, LLC (Wahpeton) – $500,000.00 for an autonomous mobile robot, automated cleaning equipment, and vision-guided robotics. ComDel is a contract manufacturer specializing in injection molding, metal stamping, and production machining (total project cost: $1,064,894.95). 
    • The Dairy Dozen (Milner) – $500,000.00 for a milking robot, automated manure collector, and automated feed pusher. This dairy operation is undergoing facility and process improvements (total project cost: $1,119,166.24). 
    • Killdeer Mountain Manufacturing, Inc. (KMM) (Killdeer/Dickinson) – $159,089.50 for automated parts storage and retrieval units. KMM is a third-generation, family-owned business specializing in aerospace and military-grade cable assemblies (total project cost: $318,179.00). 
    • YMI Industries, Inc. (Grand Forks) – $71,519.00 for an automatic bender and bar feeder. YMI provides precision machining services to OEM manufacturers and innovators (total project cost: $155,538.00). 
    • DR Millwork Company (dakBUILT) (Kindred) – $130,655.00 for a high-speed edge bander. This company provides custom woodwork and cabinetry (total project cost: $272,510.00). 
    • FlexTM, Inc. (Wahpeton) – $129,665.24 for a robotic welder. FlexTM supplies OEMs with complex weld assemblies and CNC machining (total project cost: $314,393.12). 
    • Integrity Steel Supply, LLC (Mapleton) – $500,000.00 for a robotic welder. Integrity Steel produces structural steel, joist, and deck systems (total project cost: $1,622,450.00). 
    • Malach USA, LLP (Valley City) – $500,000.00 for a robotic brake press. Malach is a metal and machining shop (total project cost: $1,205,500.00). 
    • Mid-Mac Marketing, Inc. (MidMach) (Jamestown) – $500,000.00 for three robotic welding cells. MidMach focuses on metal fabrication for the energy and agriculture sectors (total project cost: $1,227,600.00). 
    • Champ Industries USA, Inc. (Fargo) – $240,514.00 for an automated tool-loading brake press. Champ partners with OEMs and Tier One Suppliers in metal fabrication and assembly (total project cost: $489,288.00). 
    • Blue Flint Ethanol LLC (Underwood) – $28,500.00 to automate milling, liquefaction, and fermentation stages of ethanol production (total project cost: $175,609.00). 
    • PS Industries Incorporated (PSI) (Grand Forks) – $190,441.06 for an automated robotic press and CNC tube bender. PSI manufactures safety and fall-protection products for multiple industries, including the military and energy sectors (total project cost: $757,381.00). 
    • Wood Products, Inc. (dba American Woods) (Grand Forks) – $186,926.33 for automated material handling carts. American Woods manufactures residential furniture (total project cost: $347,036.00). 

     

    Applicants were required to conduct a feasibility study, assessing Smart Manufacturing readiness, with guidance from Impact Dakota. Jodie Mjoen, CEO of Impact Dakota, commended state leadership for their proactive approach to tackling workforce challenges, emphasizing the shift from offshoring to smarter advanced manufacturing solutions that create fulfilling job opportunities. 

     

    “Hats off to our state leadership, legislators, governor Burgum and Commerce team for leading the nation in addressing critical workforce challenges. Their efforts have been a driving force, sparking significant joint private industry & public policy investments in advanced manufacturing right here in North Dakota,” said Jodie Mjoen, CEO of Impact Dakota. He added, “For the past 30 years, the focus was on making products cheaper by offshoring. But in the next 30 years, it will be about making products smarter through advanced manufacturing. It’s incredibly rewarding to see the relief and excitement on the faces of our hardworking friends and neighbors in manufacturing, who now have vital solutions for filling and retaining challenging jobs. Workers previously tasked with dangerous, dull, and dirty jobs are being reallocated to higher paying, more fulfilling roles in programming and operating advanced manufacturing equipment in thriving factories across North Dakota. Now that’s what I call a win-win!” 

     

    Commerce, alongside Impact Dakota, remains dedicated to fostering automation and innovation in North Dakota businesses, continuing to support applicants in their pursuit of growth and success. 

     

    For further information about the Automate ND Grant Program, please visit the following link: ndgov /AutomateND. 

    MIL OSI USA News –

  • MIL-OSI: Athene Announces Fixed Income Investor Conference Call

    Source: GlobeNewswire (MIL-OSI)

    WEST DES MOINES, Iowa, Oct. 24, 2024 (GLOBE NEWSWIRE) — Athene Holding Ltd. (“Athene”), a leading retirement services company and subsidiary of Apollo Global Management, Inc. (NYSE:APO), announced it will host a Fixed Income Investor conference call on Thursday, November 14, 2024 at 10:00AM ET.

    The call will feature members of Athene’s senior management team, who will provide an update on current business trends, new business origination, the investment portfolio, and capital.

    An accompanying presentation, live webcast, and webcast replay will be available on the Investor Relations section of Athene’s website at ir.athene.com.

    Conference Call Details:
    Dial-in: Toll-free at 877-404-1236 (domestic) or + 1 215-268-9888 (international)

    About Athene
    Athene is a leading retirement services company with $330 billion of total assets as of June 30, 2024, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.

    Contact:

    Jeanne Hess
    Vice President, External Relations
    +1 646 768 7319
    jeanne.hess@athene.com

    The MIL Network –

  • MIL-OSI: IBEX Limited to Announce First Quarter 2025 Financial Results on November 7th, 2024

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Oct. 24, 2024 (GLOBE NEWSWIRE) — IBEX Limited (“ibex”) (Nasdaq: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced it will report first quarter 2025 financial results after the market close on Thursday, November 7, 2024. Management will host a conference call and webcast to discuss the Company’s financial results, recent developments, and business outlook at 4:30 p.m. ET.

    What:   IBEX Limited Announces First Quarter 2025 Financial Results
    When:   Thursday, November 7, 2024
    Time:   4:30 p.m. ET
    Live Call:   (800) 715-9871 [USA & Canada Toll-Free]; Conference ID: 5528023
    Webcast:   https://investors.ibex.co/ 
         

    About ibex
    ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of approximately 30 operations facilities around the world, while deploying next generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

    ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including the AI-powered ibex Wave iX solutions suite, to manage nearly 175 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

    Investor Contact
    Michael Darwal
    ibex
    Michael.Darwal@ibex.co

    Media Contact
    Dan Burris
    ibex
    Daniel.Burris@ibex.co

    The MIL Network –

  • MIL-OSI: Glacier Bancorp, Inc. Announces Results for the Quarter and Period Ended September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    3rd Quarter 2024 Highlights:

    • Diluted earnings per share for the current quarter was $0.45 per share, an increase of 15 percent from the prior quarter diluted earnings per share of $0.39 per share.
    • Net income was $51.1 million for the current quarter, an increase of $6.3 million, or 14 percent, from the prior quarter net income of $44.7 million and a decrease of $1.4 million, or 3 percent, from the prior year third quarter net income of $52.4 million.
    • The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 2.83 percent, an increase of 15 basis points from the prior quarter net interest margin of 2.68 percent.
    • Net interest income was $180 million for the current quarter, an increase of $13.8 million, or 8 percent, from the prior quarter net interest income of $166 million and an increase of $13.2 million, or 8 percent, from the prior year third quarter net interest income of $167 million.
    • The loan portfolio of $17.181 billion increased $329 million, or 2 percent, during the current quarter and organically increased $57.6 million, or 1 percent annualized, during the current quarter.
    • Total core deposits of $20.711 billion, increased $613 million, or 3 percent, during the current quarter and organically increased $216 million, or 4 percent annualized, during the current quarter.
    • Non-interest bearing deposits of $6.408 billion, increased $314 million, or 5 percent, during the current quarter and organically increased $221 million, or 14 percent annualized, during the current quarter.
    • The loan yield of 5.69 percent in the current quarter increased 11 basis points from the prior quarter loan yield of 5.58 percent and increased 42 basis points from the prior year third quarter loan yield of 5.27 percent.
    • The total cost of funding (including non-interest bearing deposits) of 1.79 percent in the current quarter decreased 1 basis point from the prior quarter total cost of funding of 1.80 percent.
    • Stockholders’ equity of $3.245 billion increased $108 million, or 3 percent, during the current quarter and increased $370 million, or 13 percent, over the prior year third quarter.
    • The Company declared a quarterly dividend of $0.33 per share. The Company has declared 158 consecutive quarterly dividends and has increased the dividend 49 times.
    • The Company completed the acquisition and core system conversion of six Montana branch locations of Rocky Mountain Bank division (“RMB”) of HTLF Bank, a wholly owned subsidiary of Heartland Financial USA, Inc. with total assets of $403 million, total gross loans of $272 million and total deposits of $397 million.

    Year-to-date 2024 Highlights:

    • Net income for the first nine months of 2024 was $128 million, a decrease of $40.2 million, or 24 percent, from the prior year first nine months net income of $169 million.
    • Interest income for the first nine months of 2024 was $843 million, an increase of $98.7 million, or 13 percent, over the $744 million of interest income for the first nine months of 2023.
    • The loan portfolio increased $983 million, or 6 percent, during the first nine months of 2024 and organically increased $261 million, or 2 percent, during the first nine months of 2024.
    • The $2.740 billion of FRB Bank Term Funding (“BTFP”) was paid off during the current year through a combination of Federal Home Loan Bank (“FHLB”) advances and cash.
    • Dividends declared in the first nine months of 2024 were $0.99 per share.
    • The Company completed the acquisition and core system conversion of Community Financial Group, Inc., the parent company of Wheatland Bank (collectively, “Wheatland”), a leading eastern Washington community bank headquartered in Spokane with total assets of $778 million.

    Financial Summary  

      At or for the Three Months ended   At or for the Nine months ended
    (Dollars in thousands, except per share and market data) Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Sep 30,
    2023    		   Sep 30,
    2024    		   Sep 30,
    2023
    Operating results                      
    Net income $ 51,055     44,708     32,627     52,445     128,390     168,611  
    Basic earnings per share $ 0.45     0.39     0.29     0.47     1.14     1.52  
    Diluted earnings per share $ 0.45     0.39     0.29     0.47     1.13     1.52  
    Dividends declared per share $ 0.33     0.33     0.33     0.33     0.99     0.99  
    Market value per share                      
    Closing $ 45.70     37.32     40.28     28.50     45.70     28.50  
    High $ 47.71     40.18     42.75     36.45     47.71     50.03  
    Low $ 35.57     34.35     34.74     26.84     34.35     26.77  
    Selected ratios and other data                      
    Number of common stock shares outstanding   113,394,786     113,394,092     113,388,590     110,879,365     113,394,786     110,879,365  
    Average outstanding shares – basic   113,394,758     113,390,539     112,492,142     110,877,534     113,093,583     110,857,788  
    Average outstanding shares – diluted   113,473,107     113,405,491     112,554,402     110,886,959     113,137,861     110,882,718  
    Return on average assets (annualized)   0.73 %   0.66 %   0.47 %   0.75 %   0.62 %   0.83 %
    Return on average equity (annualized)   6.34 %   5.77 %   4.25 %   7.12 %   5.47 %   7.72 %
    Efficiency ratio   64.92 %   67.97 %   74.41 %   63.31 %   68.98 %   62.10 %
    Loan to deposit ratio   83.16 %   84.03 %   82.04 %   79.25 %   83.16 %   79.25 %
    Number of full time equivalent employees   3,434     3,399     3,438     3,314     3,434     3,314  
    Number of locations   232     231     232     221     232     221  
    Number of ATMs   279     286     285     274     279     274  
     

    KALISPELL, Mont., Oct. 24, 2024 (GLOBE NEWSWIRE) — Glacier Bancorp, Inc. (NYSE: GBCI) reported net income of $51.1 million for the current quarter, an increase of $6.3 million, or 14 percent from the prior quarter net income of $44.7 million and a decrease of $1.4 million, or 3 percent, from the $52.4 million of net income for the prior year third quarter. Diluted earnings per share for the current quarter was $0.45 per share, an increase of 15 percent from the prior quarter diluted earnings per share of $0.39 per share and a decrease of 4 percent from the prior year third quarter diluted earnings per share of $0.47. The decrease in net income compared to the prior year third quarter was due to the increase in funding costs and the increased costs associated with the acquisitions of Wheatland and RMB over the prior year third quarter. “Our positive business trends through the third quarter. We were very pleased to see solid earnings, margin and deposit growth,” said Randy Chesler, President and Chief Executive Officer. “We finalized the acquisition of the Rocky Mountain Bank Montana branches from Heartland and welcome the employees to the Glacier team.”

    Net income for the nine months ended September 30, 2024 was $128 million, a decrease of $40.2 million, or 24 percent, from the $169 million net income for the first nine months of the prior year. Diluted earnings per share for the first nine months of 2024 was $1.13 per share, a decrease of $0.39 per share from the prior year first nine months diluted earnings per share of $1.52. The decrease in net income for the first nine months of the current year compared to the prior year first nine months was primarily due to the significant increase in funding costs. In addition, the current year-to-date results included increased operating costs and a $9.7 million provision for credit losses associated with the acquisitions of Wheatland and RMB.

    On July 19, 2024, the Company completed the acquisition of six RMB branches in Montana. The branches have been combined with Glacier Bank divisions operating in Montana, including First Bank of Montana, First Security Bank of Bozeman, First Security Bank of Missoula, Valley Bank, and Western Security Bank. On January 31, 2024, the Company completed the acquisition of Wheatland, headquartered in Spokane, Washington. Wheatland had 14 branches in eastern Washington and was combined with the North Cascades Bank division under the name Wheatland Bank, division of Glacier Bank. The Wheatland Bank division now operates with a combined 23 branches in Central and Eastern Washington and is a Top 5 community bank by deposit share in Eastern Washington. The Company’s results of operations and financial condition include the Wheatland and RMB acquisitions beginning on the acquisition date of each. The following table discloses the preliminary fair value estimates of select classifications of assets and liabilities acquired:

      Wheatland   RMB    
    (Dollars in thousands) January 31,
    2024    		   July 19,
    2024    		   Total
    Total assets $ 777,659   $ 403,052   $ 1,180,711
    Cash and cash equivalents   12,926     76,781     89,707
    Debt securities   187,183     —     187,183
    Loans receivable   450,403     271,569     721,972
    Non-interest bearing deposits   277,651     93,534     371,185
    Interest bearing deposits   339,304     303,156     642,460
    Borrowings   58,500     4,305     62,805
    Core deposit intangible   16,936     9,794     26,730
    Goodwill   38,369     29,794     68,163
     

    Asset Summary

                      $ Change from
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Cash and cash equivalents $ 987,833     800,779     1,354,342     1,672,094     187,054     (366,509 )   (684,261 )
    Debt securities, available-for-sale   4,436,578     4,499,541     4,785,719     4,741,738     (62,963 )   (349,141 )   (305,160 )
    Debt securities, held-to-maturity   3,348,698     3,400,403     3,502,411     3,553,805     (51,705 )   (153,713 )   (205,107 )
    Total debt securities   7,785,276     7,899,944     8,288,130     8,295,543     (114,668 )   (502,854 )   (510,267 )
    Loans receivable                          
    Residential real estate   1,837,697     1,771,528     1,704,544     1,653,777     66,169     133,153     183,920  
    Commercial real estate   10,833,841     10,713,964     10,303,306     10,292,446     119,877     530,535     541,395  
    Other commercial   3,177,051     3,066,028     2,901,863     2,916,785     111,023     275,188     260,266  
    Home equity   931,440     905,884     888,013     869,963     25,556     43,427     61,477  
    Other consumer   401,158     394,587     400,356     402,075     6,571     802     (917 )
    Loans receivable   17,181,187     16,851,991     16,198,082     16,135,046     329,196     983,105     1,046,141  
    Allowance for credit losses   (205,170 )   (200,955 )   (192,757 )   (192,271 )   (4,215 )   (12,413 )   (12,899 )
    Loans receivable, net   16,976,017     16,651,036     16,005,325     15,942,775     324,981     970,692     1,033,242  
    Other assets   2,456,643     2,453,581     2,094,832     2,153,149     3,062     361,811     303,494  
    Total assets $ 28,205,769     27,805,340     27,742,629     28,063,561     400,429     463,140     142,208  
     

    Total debt securities of $7.785 billion at September 30, 2024 decreased $115 million, or 1 percent, during the current quarter and decreased $510 million, or 6 percent, from the prior year third quarter. Debt securities represented 28 percent of total assets at September 30, 2024 compared to 30 percent at December 31, 2023 and 30 percent at September 30, 2023.

    The loan portfolio of $17.181 billion at September 30, 2024 increased $329 million, or 2 percent, during the current quarter. Excluding the RMB acquisition, the loan portfolio organically increased $57.6 million, or 1 percent annualized, during the current quarter. Excluding the RMB and Wheatland acquisitions, the loan portfolio organically increased $261 million, or 2 percent, during the first nine months of 2024 and increased $324 million, or 2 percent, from the prior year third quarter.

    Credit Quality Summary

      At or for the Nine Months ended   At or for the Six Months ended   At or for the Year ended   At or for the Nine Months ended
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Allowance for credit losses              
    Balance at beginning of period $ 192,757     192,757     182,283     182,283  
    Acquisitions   3     3     —     —  
    Provision for credit losses   21,138     14,157     20,790     16,609  
    Charge-offs   (12,406 )   (8,430 )   (15,095 )   (10,284 )
    Recoveries   3,678     2,468     4,779     3,663  
    Balance at end of period $ 205,170     200,955     192,757     192,271  
    Provision for credit losses              
    Loan portfolio $ 21,138     14,157     20,790     16,609  
    Unfunded loan commitments   (1,366 )   (2,390 )   (5,995 )   (4,827 )
    Total provision for credit losses $ 19,772     11,767     14,795     11,782  
    Other real estate owned $ 432     432     1,032     —  
    Other foreclosed assets   201     198     471     48  
    Accruing loans 90 days or more past due   11,551     4,692     3,312     3,855  
    Non-accrual loans   15,937     12,686     20,816     38,380  
    Total non-performing assets $ 28,121     18,008     25,631     42,283  
    Non-performing assets as a percentage of subsidiary assets   0.10 %   0.06 %   0.09 %   0.15 %
    Allowance for credit losses as a percentage of non-performing loans   730 %   1,116 %   799 %   455 %
    Allowance for credit losses as a percentage of total loans   1.19 %   1.19 %   1.19 %   1.19 %
    Net charge-offs as a percentage of total loans   0.05 %   0.04 %   0.06 %   0.04 %
    Accruing loans 30-89 days past due $ 56,213     49,678     49,967     15,253  
    U.S. government guarantees included in non-performing assets $ 1,802     1,228     1,503     1,057  
     

    Non-performing assets as a percentage of subsidiary assets at September 30, 2024 was 0.10 percent compared to 0.06 percent in the prior quarter and 0.15 percent in the prior year third quarter. Non-performing assets of $28.1 million at September 30, 2024 increased $10.1 million, or 56 percent, over the prior quarter and decreased $14.2 million, or 33 percent, over the prior year third quarter.

    Early stage delinquencies (accruing loans 30-89 days past due) as a percentage of loans at September 30, 2024 were 0.33 percent compared to 0.29 percent for the prior quarter end and 0.09 percent for the prior year third quarter. Early stage delinquencies of $56.2 million at September 30, 2024 increased $6.5 million from the prior quarter and increased $41.0 million from prior year third quarter.

    The current quarter credit loss expense of $8.0 million included $2.8 million of provision for credit losses on loans and $799 thousand of provision for credit losses on unfunded commitments from the acquisition of RMB. Excluding the acquisition of RMB, the current quarter credit loss expense was $4.4 million, including $4.2 million of credit loss expense from loans and $225 thousand of credit loss expense from unfunded loan commitments.

    For the first nine months of the current year, the provision for credit losses of $19.8 million included $8.1 million of provision for credit losses on loans and $1.6 million of provision for credit losses on unfunded loan commitments from the acquisitions of Wheatland and RMB.

    The allowance for credit losses on loans (“ACL”) as a percentage of total loans outstanding at September 30, 2024 was 1.19 percent and remained unchanged from the prior year end and the prior year third quarter. Loan portfolio growth, composition, average loan size, credit quality considerations, economic forecasts and other environmental factors will continue to determine the level of the provision for credit losses for loans. 

    Credit Quality Trends and Provision for Credit Losses on the Loan Portfolio

    (Dollars in thousands) Provision for Credit Losses Loans   Net Charge-Offs   ACL
    as a Percent
    of Loans    		   Accruing
    Loans 30-89
    Days Past Due
    as a Percent of
    Loans    		   Non-Performing
    Assets to
    Total Subsidiary
    Assets
    Third quarter 2024 $ 6,981   $ 2,766   1.19 %   0.33 %   0.10 %
    Second quarter 2024   5,066     2,890   1.19 %   0.29 %   0.06 %
    First quarter 2024   9,091     3,072   1.19 %   0.37 %   0.09 %
    Fourth quarter 2023   4,181     3,695   1.19 %   0.31 %   0.09 %
    Third quarter 2023   5,095     2,209   1.19 %   0.09 %   0.15 %
    Second quarter 2023   5,254     2,473   1.19 %   0.16 %   0.12 %
    First quarter 2023   6,260     1,939   1.20 %   0.16 %   0.12 %
    Fourth quarter 2022   6,060     1,968   1.20 %   0.14 %   0.12 %
     

    Net charge-offs for the current quarter were $2.8 million compared to $2.9 million in the prior quarter and $2.2 million for the prior year third quarter. Net charge-offs of $2.8 million included $1.9 million in deposit overdraft net charge-offs and $815 thousand of net loan charge-offs.

    Supplemental information regarding credit quality and identification of the Company’s loan portfolio based on regulatory classification is provided in the exhibits at the end of this press release. The regulatory classification of loans is based primarily on collateral type while the Company’s loan segments presented herein are based on the purpose of the loan.

    Liability Summary

                      $ Change from
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Deposits                          
    Non-interest bearing deposits $ 6,407,728   6,093,430   6,022,980   6,465,353   314,298     384,748     (57,625 )
    NOW and DDA accounts   5,363,476   5,219,838   5,321,257   5,253,367   143,638     42,219     110,109  
    Savings accounts   2,801,077   2,862,034   2,833,887   2,872,362   (60,957 )   (32,810 )   (71,285 )
    Money market deposit accounts   2,854,540   2,858,850   2,831,624   2,994,631   (4,310 )   22,916     (140,091 )
    Certificate accounts   3,284,609   3,064,613   2,915,393   2,742,017   219,996     369,216     542,592  
    Core deposits, total   20,711,430   20,098,765   19,925,141   20,327,730   612,665     786,289     383,700  
    Wholesale deposits   3,334   2,994   4,026   67,434   340     (692 )   (64,100 )
    Deposits, total   20,714,764   20,101,759   19,929,167   20,395,164   613,005     785,597     319,600  
    Repurchase agreements   1,831,501   1,629,504   1,486,850   1,499,696   201,997     344,651     331,805  
    Deposits and repurchase agreements, total   22,546,265   21,731,263   21,416,017   21,894,860   815,002     1,130,248     651,405  
    Federal Home Loan Bank advances   1,800,000   2,350,000   —   —   (550,000 )   1,800,000     1,800,000  
    FRB Bank Term Funding   —   —   2,740,000   2,740,000   —     (2,740,000 )   (2,740,000 )
    Other borrowed funds   84,168   88,149   81,695   73,752   (3,981 )   2,473     10,416  
    Subordinated debentures   133,065   133,024   132,943   132,903   41     122     162  
    Other liabilities   397,221   365,459   351,693   347,452   31,762     45,528     49,769  
    Total liabilities $ 24,960,719   24,667,895   24,722,348   25,188,967   292,824     238,371     (228,248 )
     

    Total core deposits of $20.711 billion at September 30, 2024 increased $613 million, or 3 percent, from the prior quarter and increased $786 million, or 4 percent, from the prior year end. Total core deposits organically increased $217 million, or 4 percent annualized, during the current quarter and decreased $227 million, or 1 percent, from the prior year end.

    Total non-interest bearing deposits of $6.408 billion, increased $314 million, or 5 percent, from the prior quarter and increased $385 million, or 6 percent, from the prior year end. Non-interest bearing deposits organically increased $221 million, or 14 percent annualized, during the current quarter and increased $13.6 million, or 23 basis points, from the prior year end. Non-interest bearing deposits represented 31 percent of total deposits at June 30, 2024, compared to 30 percent at December 31, 2023 and 32 percent at September 30, 2023.

    FHLB borrowings of $1.800 billion decreased $550 million, or 23 percent, during the current quarter. Upon maturity in the first quarter of 2024, the Company paid off its $2.740 billion BTFP borrowings with a combination of $2.140 billion in FHLB borrowings and cash.

    Stockholders’ Equity Summary

                      $ Change from
    (Dollars in thousands, except per share data) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Common equity $ 3,507,356     3,492,096     3,394,394     3,374,961     15,260     112,962     132,395  
    Accumulated other comprehensive loss   (262,306 )   (354,651 )   (374,113 )   (500,367 )   92,345     111,807     238,061  
    Total stockholders’ equity   3,245,050     3,137,445     3,020,281     2,874,594     107,605     224,769     370,456  
    Goodwill and intangibles, net   (1,106,336 )   (1,066,790 )   (1,017,263 )   (1,019,690 )   (39,546 )   (89,073 )   (86,646 )
    Tangible stockholders’ equity $ 2,138,714     2,070,655     2,003,018     1,854,904     68,059     135,696     283,810  
    Stockholders’ equity to total assets   11.50 %   11.28 %   10.89 %   10.24 %            
    Tangible stockholders’ equity to total tangible assets   7.89 %   7.74 %   7.49 %   6.86 %            
    Book value per common share $ 28.62     27.67     27.24     25.93     0.95   1.38   2.69
    Tangible book value per common share $ 18.86     18.26     18.06     16.73     0.60   0.80   2.13
     

    Tangible stockholders’ equity of $2.139 billion at September 30, 2024 increased $68.1 million, or 3 percent, compared to the prior quarter and was primarily the result of a decrease in unrealized loss on the available-for-sale debt securities which was partially offset by the increase in goodwill and core deposit intangibles associated with the acquisition of RMB. Tangible stockholders’ equity at September 30, 2024 increased $136 million, or 7 percent, compared to the prior year end and was primarily due to $92.4 million of Company common stock issued for the acquisition of Wheatland and the decrease in the unrealized loss on the available-for-sale securities. The increase was partially offset by the increase in goodwill and core deposits associated with the acquisitions of Wheatland and RMB. Tangible book value per common share of $18.86 at the current quarter end increased $0.80 per share, or 4 percent, from the prior year end and increased $2.13 per share, or 13 percent, from the prior year third quarter.

    Cash Dividends
    On September 24, 2024, the Company’s Board of Directors declared a quarterly cash dividend of $0.33 per share. The dividend was payable October 17, 2024 to shareholders of record on October 8, 2024. The dividend was the Company’s 158th consecutive regular dividend. Future cash dividends will depend on a variety of factors, including net income, capital, asset quality, general economic conditions and regulatory considerations.

    Operating Results for Three Months Ended September 30, 2024 
    Compared to June 30, 2024, March 31, 2024 and September 30, 2023
     
    Income Summary
      Three Months ended   $ Change from
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Sep 30,
    2023
    Net interest income                          
    Interest income $ 289,578     273,834     279,402     264,906     15,744   10,176     24,672
    Interest expense   109,347     107,356     112,922     97,852     1,991   (3,575 )   11,495
    Total net interest income   180,231     166,478     166,480     167,054     13,753   13,751     13,177
    Non-interest income                          
    Service charges and other fees   20,587     19,422     18,563     19,304     1,165   2,024     1,283
    Miscellaneous loan fees and charges   4,970     4,821     4,362     4,322     149   608     648
    Gain on sale of loans   4,898     4,669     3,362     4,046     229   1,536     852
    Gain (loss) on sale of securities   26     (12 )   16     (65 )   38   10     91
    Other income   4,223     3,304     3,686     2,633     919   537     1,590
    Total non-interest income   34,704     32,204     29,989     30,240     2,500   4,715     4,464
    Total income $ 214,935     198,682     196,469     197,294     16,253   18,466     17,641
    Net interest margin (tax-equivalent)   2.83 %   2.68 %   2.59 %   2.58 %            
     

    Net Interest Income
    The current quarter interest income of $290 million increased $15.7 million, or 6 percent, over the prior quarter and increased $24.7 million, or 9 percent, over the prior year third quarter, with both increases being primarily due to the increase in the loan yields and the increase in average balances of the loan portfolio. The loan yield of 5.69 percent in the current quarter increased 11 basis points from the prior quarter loan yield of 5.58 percent and increased 42 basis points from the prior year third quarter loan yield of 5.27 percent.

    The current quarter interest expense of $109 million increased $2.0 million, or 2 percent, over the prior quarter and was primarily attributable to the increase in average deposit balances. The current quarter interest expense increased $11.5 million, or 12 percent, over the prior year third quarter and was primarily the result of an increase in rates on deposits and borrowings. Core deposit cost (including non-interest bearing deposits) was 1.37 percent for the current quarter compared to 1.36 percent in the prior quarter and 1.03 percent for the prior year third quarter. The total cost of funding (including non-interest bearing deposits) of 1.79 percent in the current quarter decreased 1 basis point from the prior quarter. The current quarter cost of funds increased 21 basis points from the prior year third quarter which was primarily the result of the increased deposit rates.

    The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was 2.83 percent, an increase of 15 basis points from the prior quarter net interest margin of 2.68 percent and was primarily driven by an increase in loan yields. The net interest margin as a percentage of earning assets, on a tax-equivalent basis, for the current quarter was an increase of 25 basis points from the prior year third quarter net interest margin of 2.58 percent and was primarily driven by an increase in loan yields which more than offset the total cost of funding. Core net interest margin excludes the impact from discount accretion and non-accrual interest. Excluding the 4 basis points from discount accretion, the core net interest margin was 2.79 percent in the current quarter compared to 2.63 percent in the prior quarter and 2.55 in the prior year third quarter. “The growth in the loan portfolio at higher yields was funded primarily by the remix of lower yield cash flow from the securities portfolio,” said Ron Copher, Chief Financial Officer. “In addition, the growth in non-interest bearing deposits and the reduction in wholesale funding contributed to the improvement in the current quarter net interest margin.”

    Non-interest Income
    Non-interest income for the current quarter totaled $34.7 million, which was an increase of $2.5 million, or 8 percent, over the prior quarter and an increase of $4.5 million, or 15 percent, over the prior year third quarter. Service charges and other fees of $20.6 million for the current quarter increased $1.2 million, or 6 percent, compared to the prior quarter and increased $1.3 million, or 7 percent, compared to the prior year third quarter. Gain on the sale of residential loans of $4.9 million for the current quarter increased $229 thousand, or 5 percent, compared to the prior quarter and increased $852 thousand, or 21 percent, from the prior year third quarter. Other income of $4.2 million increased $919 thousand, or 28 percent, over the prior quarter and increased $1.6 million, or 60 percent, over the prior year third quarter, with both increases being driven by a $1.2 million gain on the sale of repossessed property during the current quarter.

    Non-interest Expense Summary

      Three Months ended   $ Change from
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Sep 30,
    2023
    Compensation and employee benefits $ 85,083   84,434   85,789   77,387   649     (706 )   7,696  
    Occupancy and equipment   11,989   11,594   11,883   10,553   395     106     1,436  
    Advertising and promotions   4,062   4,362   3,983   4,052   (300 )   79     10  
    Data processing   9,196   9,387   9,159   8,730   (191 )   37     466  
    Other real estate owned and foreclosed assets   13   149   25   15   (136 )   (12 )   (2 )
    Regulatory assessments and insurance   5,150   5,393   7,761   6,060   (243 )   (2,611 )   (910 )
    Intangibles amortization   3,367   3,017   2,760   2,428   350     607     939  
    Other expenses   25,848   22,616   30,483   20,351   3,232     (4,635 )   5,497  
    Total non-interest expense $ 144,708   140,952   151,843   129,576   3,756     (7,135 )   15,132  
     

    Total non-interest expense of $145 million for the current quarter increased $3.8 million, or 3 percent, over the prior quarter and increased $15.1 million, or 12 percent, over the prior year third quarter. Compensation and employee benefits increased $7.7 million, or 10 percent, from the prior year third quarter and was driven by annual salary increases, increased performance-related compensation and increases from the acquisitions of Wheatland and RMB.

    Other expenses of $25.8 million increased $3.2 million, or 14 percent, from the prior quarter, which was attributable to several miscellaneous category increases including an increase of $1.2 million in outside consulting services. In addition, the current quarter other expenses included $586 thousand of gains from the sale of former branch facilities and disposal of fixed assets compared to $1.5 million in the prior quarter. Other expenses increased $5.5 million, or 27 percent, from the prior year third quarter as a result of several miscellaneous category increases including an increase of $2.7 million in outside consulting services and an increase of $1.6 million in acquisition-related expenses. Acquisition-related expense was $1.9 million in the current quarter compared to $1.8 million in the prior quarter and $279 thousand in the prior year third quarter.

    Federal and State Income Tax Expense
    Tax expense during the third quarter of 2024 was $11.2 million, an increase of $1.7 million, or 18 percent, compared to the prior quarter and a decrease of $567 thousand, or 5 percent, from the prior year third quarter. The effective tax rate in the current quarter was 17.9 percent compared to 17.5 percent in the prior quarter and 18.3 percent in the prior year third quarter.

    Efficiency Ratio
    The efficiency ratio was 64.92 percent in the current quarter compared to 67.97 percent in the prior quarter and 63.31 percent in the prior year third quarter. The decrease from the prior quarter was principally driven by the increase in net interest income that more than offset the increase in non-interest expense.

    Operating Results for Nine Months Ended September 30, 2024
    Compared to September 30, 2023
     
    Income Summary
      Nine months ended    
    (Dollars in thousands) Sep 30,
    2024    		   Sep 30,
    2023    		   $ Change   % Change
    Net interest income              
    Interest income $ 842,814     $ 744,159     $ 98,655     13  %
    Interest expense   329,625       218,933       110,692     51  %
    Total net interest income   513,189       525,226       (12,037 )   (2 )%
    Non-interest income              
    Service charges and other fees   58,572       56,042       2,530     5  %
    Miscellaneous loan fees and charges   14,153       12,451       1,702     14  %
    Gain on sale of loans   12,929       9,974       2,955     30  %
    Gain (loss) on sale of securities   30       (202 )     232     (115  )%
    Other income   11,213       8,949       2,264     25  %
    Total non-interest income   96,897       87,214       9,683     11  %
    Total Income $ 610,086     $ 612,440     $ (2,354 )   —  %
    Net interest margin (tax-equivalent)   2.70 %     2.79 %        
     

    Net Interest Income
    Net-interest income of $513 million for the first nine months of 2024 decreased $12.0 million, or 2 percent, over 2023 and was primarily driven by increased interest expense which outpaced the increase in interest income. Interest income of $843 million for 2024 increased $98.7 million, or 13 percent, from the prior year and was primarily attributable to the increase in the loan portfolio and an increase in loan yields. The loan yield was 5.58 percent during the first nine months of 2024, an increase of 44 basis points from the prior year first nine months loan yield of 5.14 percent.

    Interest expense of $330 million for the first nine months of 2024 increased $111 million, or 51 percent, over the same period in the prior year and was primarily the result of higher interest rates on deposits. Core deposit cost (including non-interest bearing deposits) was 1.36 percent for the first nine months of 2024 compared to 0.62 percent for the same period in the prior year. The total funding cost (including non-interest bearing deposits) for the first nine months of 2024 was 1.81 percent, which was an increase of 59 basis points over the first nine months of the prior year funding cost of 1.22 percent.

    The net interest margin as a percentage of earning assets, on a tax-equivalent basis, during the first nine months of 2024 was 2.70 percent, a 9 basis points decrease from the net interest margin of 2.79 percent for the first nine months of the prior year. Excluding the 4 basis points from discount accretion and the 1 basis point from non-accrual interest, the core net interest margin was 2.65 percent in the first nine months of the current year compared to 2.77 percent in the prior year first nine months.

    Non-interest Income  
    Non-interest income of $96.9 million for the first nine months of 2024 increased $9.7 million, or 11 percent, over the same period last year. Gain on sale of residential loans of $12.9 million for the first nine months of 2024 increased by $3.0 million, or 30 percent, over the first nine months of the prior year. Other income of $11.2 million for the first nine months of 2024 increased $2.3 million, or 25 percent, over the same period last year and was primarily driven by a $1.2 million gain on the sale of repossessed property during the current quarter.

    Non-interest Expense Summary

      Nine months ended        
    (Dollars in thousands) Sep 30,
    2024    		   Sep 30,
    2023    		   $ Change   % Change
    Compensation and employee benefits $ 255,306   $ 237,628   $ 17,678   7 %
    Occupancy and equipment   35,466     33,045     2,421   7 %
    Advertising and promotions   12,407     12,020     387   3 %
    Data processing   27,742     25,241     2,501   10 %
    Other real estate owned and foreclosed assets   187     41     146   356 %
    Regulatory assessments and insurance   18,304     16,277     2,027   12 %
    Core deposit intangibles amortization   9,144     7,304     1,840   25 %
    Other expenses   78,947     63,606     15,341   24 %
    Total non-interest expense $ 437,503   $ 395,162   $ 42,341   11 %
     

    Total non-interest expense of $438 million for the first nine months of 2024 increased $42.3 million, or 11 percent, over the same period in the prior year. Compensation and employee benefits expense of $255 million in the first nine months of 2024 increased $17.7 million, or 7 percent, over the same period in the prior year and was driven by annual salary increases and the acquisitions of Wheatland and RMB. Data processing expenses of $27.7 million for the first nine months of 2024 increased $2.5 million, or 10 percent, from the same period in the prior year. Regulatory assessments and insurance expense of $18.3 million for the first nine months of 2024 increased $2.0 million, or 12 percent, over the same period in the prior year which was principally due to the accrual adjustment for the FDIC special assessment. Other expenses of $78.9 million for the first nine months of 2024 increased $15.3 million, or 24 percent, from the first nine months of the prior year and was primarily driven by an increase of $8.6 million of acquisition-related expenses, which was partially offset by gains of $3.1 million from the sale of former branch facilities and disposal of fixed assets.

    Provision for Credit Losses
    The provision for credit loss expense was $19.8 million for the first nine months of 2024, an increase of $8.0 million, or 68 percent, over the same period in the prior year and was primarily attributable to $9.7 million from the acquisitions of Wheatland and RMB. Net charge-offs for the first nine months of 2024 were $8.7 million compared to $6.6 million in the first nine months of 2023.

    Federal and State Income Tax Expense
    Tax expense of $24.4 million for the first nine months of 2024 decreased $12.5 million, or 34 percent, over the prior year. The effective tax rate for the first nine months of 2024 was 16.0 percent compared to 17.9 percent for the same period in the prior year. The decrease in tax expense and the resulting effective tax rate was the result of a combination of increased federal tax credits and a decrease in the pre-tax income.

    Efficiency Ratio
    The efficiency ratio was 68.98 percent for the first nine months of 2024 compared to 62.10 percent for the same period of 2023. The increase from the prior year was primarily attributable to the increase in interest expense in the current year that outpaced the increase in interest income and increased non-interest expense.

    Forward-Looking Statements  
    This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations and intentions that are not historical facts, and other statements identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “should,” “projects,” “seeks,” “estimates” or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are based on assumptions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results (express or implied) or other expectations in the forward-looking statements, including those made in this news release:

    • risks associated with lending and potential adverse changes in the credit quality of the Company’s loan portfolio;
    • changes in monetary and fiscal policies, including interest rate policies of the Federal Reserve Board, which could adversely affect the Company’s net interest income and margin, the fair value of its financial instruments, profitability, and stockholders’ equity;
    • legislative or regulatory changes, including increased FDIC insurance rates and assessments, changes in the review and regulation of bank mergers, or increased banking and consumer protection regulations, that may adversely affect the Company’s business and strategies;
    • risks related to overall economic conditions, including the impact on the economy of an uncertain interest rate environment, inflationary pressures, and geopolitical instability, including the wars in Ukraine and the Middle East;
    • risks associated with the Company’s ability to negotiate, complete, and successfully integrate any future acquisitions;
    • costs or difficulties related to the completion and integration of pending or future acquisitions;
    • impairment of the goodwill recorded by the Company in connection with acquisitions, which may have an adverse impact on earnings and capital;
    • reduction in demand for banking products and services, whether as a result of changes in customer behavior, economic conditions, banking environment, or competition;
    • deterioration of the reputation of banks and the financial services industry, which could adversely affect the Company’s ability to obtain and maintain customers;
    • changes in the competitive landscape, including as may result from new market entrants or further consolidation in the financial services industry, resulting in the creation of larger competitors with greater financial resources;
    • risks presented by public stock market volatility, which could adversely affect the market price of the Company’s common stock and the ability to raise additional capital or grow through acquisitions;
    • risks associated with dependence on the Chief Executive Officer, the senior management team and the Presidents of Glacier Bank’s divisions;
    • material failure, potential interruption or breach in security of the Company’s systems or changes in technological which could expose the Company to cybersecurity risks, fraud, system failures, or direct liabilities;
    • risks related to natural disasters, including droughts, fires, floods, earthquakes, pandemics, and other unexpected events;
    • success in managing risks involved in the foregoing; and
    • effects of any reputational damage to the Company resulting from any of the foregoing.

    The Company does not undertake any obligation to publicly correct or update any forward-looking statement if it later becomes aware that actual results are likely to differ materially from those expressed in such forward-looking statement.

    Conference Call Information
    A conference call for investors is scheduled for 11:00 a.m. Eastern Time on Friday, October 25, 2024. Please note that our conference call host no longer offers a general dial-in number. Investors who would like to join the call may now register by following this link to obtain dial-in instructions: https://register.vevent.com/register/BI32ee03ea65c34bd794e0027768d383d4. To participate via the webcast, log on to: https://edge.media-server.com/mmc/p/9bh88vfv.

    About Glacier Bancorp, Inc.
    Glacier Bancorp, Inc. (NYSE: GBCI), a member of the Russell 2000® and the S&P MidCap 400® indices, is the parent company for Glacier Bank and its Bank divisions located across its eight state Western U.S. footprint: Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), The Foothills Bank (Yuma, AZ), Valley Bank of Helena (Helena, MT), Western Security Bank (Billings, MT), and Wheatland Bank (Spokane, WA).

    Glacier Bancorp, Inc.
    Unaudited Condensed Consolidated Statements of Financial Condition
     
    (Dollars in thousands, except per share data) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Assets              
    Cash on hand and in banks $ 342,105     271,107     246,525     264,067  
    Interest bearing cash deposits   645,728     529,672     1,107,817     1,408,027  
    Cash and cash equivalents   987,833     800,779     1,354,342     1,672,094  
    Debt securities, available-for-sale   4,436,578     4,499,541     4,785,719     4,741,738  
    Debt securities, held-to-maturity   3,348,698     3,400,403     3,502,411     3,553,805  
    Total debt securities   7,785,276     7,899,944     8,288,130     8,295,543  
    Loans held for sale, at fair value   46,126     39,745     15,691     29,027  
    Loans receivable   17,181,187     16,851,991     16,198,082     16,135,046  
    Allowance for credit losses   (205,170 )   (200,955 )   (192,757 )   (192,271 )
    Loans receivable, net   16,976,017     16,651,036     16,005,325     15,942,775  
    Premises and equipment, net   466,977     451,515     421,791     415,343  
    Other real estate owned and foreclosed assets   633     630     1,503     48  
    Accrued interest receivable   114,121     102,279     94,526     104,476  
    Deferred tax asset   125,432     155,834     159,070     203,745  
    Intangibles, net   52,780     43,028     31,870     34,297  
    Goodwill   1,053,556     1,023,762     985,393     985,393  
    Non-marketable equity securities   98,285     121,810     12,755     11,330  
    Bank-owned life insurance   188,971     187,793     171,101     170,175  
    Other assets   309,762     327,185     201,132     199,315  
    Total assets $ 28,205,769     27,805,340     27,742,629     28,063,561  
    Liabilities              
    Non-interest bearing deposits $ 6,407,728     6,093,430     6,022,980     6,465,353  
    Interest bearing deposits   14,307,036     14,008,329     13,906,187     13,929,811  
    Securities sold under agreements to repurchase   1,831,501     1,629,504     1,486,850     1,499,696  
    FHLB advances   1,800,000     2,350,000     —     —  
    FRB Bank Term Funding   —     —     2,740,000     2,740,000  
    Other borrowed funds   84,168     88,149     81,695     73,752  
    Subordinated debentures   133,065     133,024     132,943     132,903  
    Accrued interest payable   35,382     31,000     125,907     91,874  
    Other liabilities   361,839     334,459     225,786     255,578  
    Total liabilities   24,960,719     24,667,895     24,722,348     25,188,967  
    Commitments and Contingent Liabilities   —     —     —     —  
    Stockholders’ Equity              
    Preferred shares, $0.01 par value per share, 1,000,000 shares authorized, none issued or outstanding   —     —     —     —  
    Common stock, $0.01 par value per share, 234,000,000 shares authorized   1,134     1,134     1,109     1,109  
    Paid-in capital   2,447,200     2,445,479     2,350,104     2,348,305  
    Retained earnings – substantially restricted   1,059,022     1,045,483     1,043,181     1,025,547  
    Accumulated other comprehensive loss   (262,306 )   (354,651 )   (374,113 )   (500,367 )
    Total stockholders’ equity   3,245,050     3,137,445     3,020,281     2,874,594  
    Total liabilities and stockholders’ equity $ 28,205,769     27,805,340     27,742,629     28,063,561  
    Glacier Bancorp, Inc.
    Unaudited Condensed Consolidated Statements of Operations
     
      Three Months ended   Nine months ended
    (Dollars in thousands, except per share data) Sep 30,
    2024    		   Jun 30,
    2024    		   Mar 31,
    2024    		   Sep 30,
    2023    		   Sep 30,
    2024    		   Sep 30,
    2023
    Interest Income                      
    Investment securities $ 46,371   42,165     56,218   53,397     144,754   144,697  
    Residential real estate loans   23,118   21,754     20,764   18,594     65,636   51,508  
    Commercial loans   196,901   188,326     181,472   173,437     566,699   493,706  
    Consumer and other loans   23,188   21,589     20,948   19,478     65,725   54,248  
    Total interest income   289,578   273,834     279,402   264,906     842,814   744,159  
    Interest Expense                      
    Deposits   70,607   67,852     67,196   54,697     205,655   98,942  
    Securities sold under agreements to
    repurchase    		   14,737   13,566     12,598   10,972     40,901   24,185  
    Federal Home Loan Bank advances   22,344   24,179     4,249   —     50,772   26,910  
    FRB Bank Term Funding   —   —     27,097   30,229     27,097   63,160  
    Other borrowed funds   252   353     344   489     949   1,428  
    Subordinated debentures   1,407   1,406     1,438   1,465     4,251   4,308  
    Total interest expense   109,347   107,356     112,922   97,852     329,625   218,933  
    Net Interest Income   180,231   166,478     166,480   167,054     513,189   525,226  
    Provision for credit losses   8,005   3,518     8,249   3,539     19,772   11,782  
    Net interest income after provision for credit losses   172,226   162,960     158,231   163,515     493,417   513,444  
    Non-Interest Income                      
    Service charges and other fees   20,587   19,422     18,563   19,304     58,572   56,042  
    Miscellaneous loan fees and charges   4,970   4,821     4,362   4,322     14,153   12,451  
    Gain on sale of loans   4,898   4,669     3,362   4,046     12,929   9,974  
    Gain (loss) on sale of securities   26   (12 )   16   (65 )   30   (202 )
    Other income   4,223   3,304     3,686   2,633     11,213   8,949  
    Total non-interest income   34,704   32,204     29,989   30,240     96,897   87,214  
    Non-Interest Expense                      
    Compensation and employee benefits   85,083   84,434     85,789   77,387     255,306   237,628  
    Occupancy and equipment   11,989   11,594     11,883   10,553     35,466   33,045  
    Advertising and promotions   4,062   4,362     3,983   4,052     12,407   12,020  
    Data processing   9,196   9,387     9,159   8,730     27,742   25,241  
    Other real estate owned and foreclosed assets   13   149     25   15     187   41  
    Regulatory assessments and insurance   5,150   5,393     7,761   6,060     18,304   16,277  
    Intangibles amortization   3,367   3,017     2,760   2,428     9,144   7,304  
    Other expenses   25,848   22,616     30,483   20,351     78,947   63,606  
    Total non-interest expense   144,708   140,952     151,843   129,576     437,503   395,162  
    Income Before Income Taxes   62,222   54,212     36,377   64,179     152,811   205,496  
    Federal and state income tax expense   11,167   9,504     3,750   11,734     24,421   36,885  
    Net Income $ 51,055   44,708     32,627   52,445     128,390   168,611  
    Glacier Bancorp, Inc.
    Average Balance Sheets
     
      Three Months ended
      September 30, 2024   June 30, 2024
    (Dollars in thousands) Average
    Balance    		   Interest &
    Dividends    		   Average
    Yield/
    Rate    		   Average
    Balance    		   Interest &
    Dividends    		   Average
    Yield/
    Rate
    Assets                      
    Residential real estate loans $ 1,850,066   $ 23,118   5.00 %   $ 1,796,787   $ 21,754   4.84 %
    Commercial loans 1   13,957,304     198,556   5.66 %     13,740,455     189,939   5.56 %
    Consumer and other loans   1,324,142     23,188   6.97 %     1,290,587     21,589   6.73 %
    Total loans 2   17,131,512     244,862   5.69 %     16,827,829     233,282   5.58 %
    Tax-exempt debt securities 3   1,660,643     14,710   3.54 %     1,707,269     15,111   3.54 %
    Taxable debt securities 4, 5   7,073,967     34,001   1.92 %     7,042,885     29,461   1.67 %
    Total earning assets   25,866,122     293,573   4.52 %     25,577,983     277,854   4.37 %
    Goodwill and intangibles   1,092,632             1,068,250        
    Non-earning assets   836,878             754,491        
    Total assets $ 27,795,632           $ 27,400,724        
    Liabilities                      
    Non-interest bearing deposits $ 6,237,166   $ —   — %   $ 6,026,709   $ —   — %
    NOW and DDA accounts   5,314,459     16,221   1.21 %     5,221,883     15,728   1.21 %
    Savings accounts   2,829,203     5,699   0.80 %     2,914,538     6,014   0.83 %
    Money market deposit accounts   2,887,173     15,048   2.07 %     2,904,438     14,467   2.00 %
    Certificate accounts   3,211,842     33,597   4.16 %     3,037,638     31,593   4.18 %
    Total core deposits   20,479,843     70,565   1.37 %     20,105,206     67,802   1.36 %
    Wholesale deposits 6   3,122     42   5.47 %     3,726     50   5.50 %
    Repurchase agreements   1,723,553     14,738   3.40 %     1,597,887     13,566   3.41 %
    FHLB advances   1,828,533     22,344   4.78 %     2,007,747     24,179   4.76 %
    Subordinated debentures and other borrowed funds   219,472     1,658   3.01 %     224,778     1,759   3.15 %
    Total funding liabilities   24,254,523     109,347   1.79 %     23,939,344     107,356   1.80 %
    Other liabilities   336,906             344,105        
    Total liabilities   24,591,429             24,283,449        
    Stockholders’ Equity                      
    Stockholders’ equity   3,204,203             3,117,275        
    Total liabilities and stockholders’ equity $ 27,795,632           $ 27,400,724        
    Net interest income (tax-equivalent)     $ 184,226           $ 170,498    
    Net interest spread (tax-equivalent)         2.73 %           2.57 %
    Net interest margin (tax-equivalent)         2.83 %           2.68 %

    ______________________________

    1 Includes tax effect of $1.7 million and $1.6 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2024 and June 30, 2024, respectively.
    2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
    3 Includes tax effect of $2.1 million and $2.2 million on tax-exempt debt securities income for the three months ended September 30, 2024 and June 30, 2024, respectively.
    4 Includes interest income of $4.8 million and $1.9 million on average interest-bearing cash balances of $357.0 million and $0.14 billion for the three months ended September 30, 2024 and June 30, 2024, respectively.
    5 Includes tax effect of $203 thousand and $211 thousand on federal income tax credits for the three months ended September 30, 2024 and June 30, 2024, respectively.
    6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.

     

    Glacier Bancorp, Inc.
    Average Balance Sheets (continued)
     
      Three Months ended
      September 30, 2024   September 30, 2023
    (Dollars in thousands) Average
    Balance    		   Interest &
    Dividends    		   Average
    Yield/
    Rate    		   Average
    Balance    		   Interest &
    Dividends    		   Average
    Yield/
    Rate
    Assets                      
    Residential real estate loans $ 1,850,066   $ 23,118   5.00 %   $ 1,649,947   $ 18,594   4.51 %
    Commercial loans 1   13,957,304     198,556   5.66 %     13,120,479     174,822   5.29 %
    Consumer and other loans   1,324,142     23,188   6.97 %     1,263,775     19,478   6.11 %
    Total loans 2   17,131,512     244,862   5.69 %     16,034,201     212,894   5.27 %
    Tax-exempt debt securities 3   1,660,643     14,710   3.54 %     1,732,227     14,486   3.34 %
    Taxable debt securities 4, 5   7,073,967     34,001   1.92 %     8,485,157     41,052   1.94 %
    Total earning assets   25,866,122     293,573   4.52 %     26,251,585     268,432   4.06 %
    Goodwill and intangibles   1,092,632             1,020,868        
    Non-earning assets   836,878             528,145        
    Total assets $ 27,795,632           $ 27,800,598        
    Liabilities                      
    Non-interest bearing deposits $ 6,237,166   $ —   — %   $ 6,461,350   $ —   — %
    NOW and DDA accounts   5,314,459     16,221   1.21 %     5,231,741     12,906   0.98 %
    Savings accounts   2,829,203     5,699   0.80 %     2,840,620     3,492   0.49 %
    Money market deposit accounts   2,887,173     15,048   2.07 %     3,039,177     12,646   1.65 %
    Certificate accounts   3,211,842     33,597   4.16 %     2,462,266     23,151   3.73 %
    Total core deposits   20,479,843     70,565   1.37 %     20,035,154     52,195   1.03 %
    Wholesale deposits 6   3,122     42   5.47 %     188,523     2,502   5.27 %
    Repurchase agreements   1,723,553     14,738   3.40 %     1,401,765     10,972   3.11 %
    FHLB advances   1,828,533     22,344   4.78 %     —     —   — %
    FRB Bank Term Funding   —     —   — %     2,740,000     30,229   4.38 %
    Subordinated debentures and other borrowed funds   219,472     1,658   3.01 %     208,336     1,954   3.72 %
    Total funding liabilities   24,254,523     109,347   1.79 %     24,573,778     97,852   1.58 %
    Other liabilities   336,906             302,564        
    Total liabilities   24,591,429             24,876,342        
    Stockholders’ Equity                      
    Stockholders’ equity   3,204,203             2,924,256        
    Total liabilities and stockholders’ equity $ 27,795,632           $ 27,800,598        
    Net interest income (tax-equivalent)     $ 184,226           $ 170,580    
    Net interest spread (tax-equivalent)         2.73 %           2.48 %
    Net interest margin (tax-equivalent)         2.83 %           2.58 %

    ______________________________

    1 Includes tax effect of $1.7 million and $1.4 million on tax-exempt municipal loan and lease income for the three months ended September 30, 2024 and 2023, respectively.
    2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
    3 Includes tax effect of $2.1 million and $1.9 million on tax-exempt debt securities income for the three months ended September 30, 2024 and 2023, respectively.
    4 Includes interest income of $4.8 million and $15.1 million on average interest-bearing cash balances of $357.0 million and $1,106.1 million for the three months ended September 30, 2024 and 2023, respectively.
    5 Includes tax effect of $203 thousand and $215 thousand on federal income tax credits for the three months ended September 30, 2024 and 2023, respectively.
    6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
    Glacier Bancorp, Inc.
    Average Balance Sheets (continued)
     
      Nine Months ended
      September 30, 2024   September 30, 2023
    (Dollars in thousands) Average
    Balance    		   Interest &
    Dividends    		   Average
    Yield/
    Rate    		   Average
    Balance    		   Interest &
    Dividends    		   Average
    Yield/
    Rate
    Assets                      
    Residential real estate loans $ 1,798,202   $ 65,636   4.87 %   $ 1,570,911   $ 51,508   4.37 %
    Commercial loans 1   13,737,866     571,540   5.56 %     12,910,691     498,152   5.16 %
    Consumer and other loans   1,299,463     65,725   6.76 %     1,236,158     54,248   5.87 %
    Total loans 2   16,835,531     702,901   5.58 %     15,717,760     603,908   5.14 %
    Tax-exempt debt securities 3   1,695,965     44,978   3.54 %     1,745,764     44,978   3.44 %
    Taxable debt securities 4, 5   7,429,971     106,939   1.92 %     8,240,041     107,338   1.74 %
    Total earning assets   25,961,467     854,818   4.40 %     25,703,565     756,224   3.93 %
    Goodwill and intangibles   1,071,024             1,023,274        
    Non-earning assets   734,681             510,332        
    Total assets $ 27,767,172           $ 27,237,171        
    Liabilities                      
    Non-interest bearing deposits $ 6,077,392   $ —   — %   $ 6,770,242   $ —   — %
    NOW and DDA accounts   5,270,842     47,866   1.21 %     5,140,668     22,606   0.59 %
    Savings accounts   2,881,273     17,368   0.81 %     2,930,420     5,070   0.23 %
    Money market deposit accounts   2,913,206     43,907   2.01 %     3,253,138     28,654   1.18 %
    Certificate accounts   3,083,866     96,365   4.17 %     1,638,163     34,613   2.82 %
    Total core deposits   20,226,579     205,506   1.36 %     19,732,631     90,943   0.62 %
    Wholesale deposits 6   3,603     149   5.49 %     213,465     7,999   5.01 %
    Repurchase agreements   1,612,021     40,901   3.39 %     1,238,139     24,185   2.61 %
    FHLB advances   1,397,258     50,772   4.77 %     738,004     26,910   4.81 %
    FRB Bank Term Funding   824,672     27,097   4.39 %     1,929,322     63,160   4.38 %
    Subordinated debentures and other borrowed funds   220,835     5,200   3.15 %     208,891     5,737   3.67 %
    Total funding liabilities   24,284,968     329,625   1.81 %     24,060,452     218,934   1.22 %
    Other liabilities   345,822             256,022        
    Total liabilities   24,630,790             24,316,474        
    Stockholders’ Equity                      
    Stockholders’ equity   3,136,382             2,920,697        
    Total liabilities and stockholders’ equity $ 27,767,172           $ 27,237,171        
    Net interest income (tax-equivalent)     $ 525,193           $ 537,290    
    Net interest spread (tax-equivalent)         2.59 %           2.71 %
    Net interest margin (tax-equivalent)         2.70 %           2.79 %

    ______________________________

    1 Includes tax effect of $4.8 million and $4.4 million on tax-exempt municipal loan and lease income for the nine months ended September 30, 2024 and 2023, respectively.
    2 Total loans are gross of the allowance for credit losses, net of unearned income and include loans held for sale. Non-accrual loans were included in the average volume for the entire period.
    3 Includes tax effect of $6.5 million and $7.0 million on tax-exempt debt securities income for the nine months ended September 30, 2024 and 2023, respectively.
    4 Includes interest income of $17.2 million and $24.5 million on average interest-bearing cash balances of $631.7 million and $624.0 million for the nine months ended September 30, 2024 and 2023, respectively.
    5 Includes tax effect of $629 thousand and $644 thousand on federal income tax credits for the nine months ended September 30, 2024 and 2023, respectively.
    6 Wholesale deposits include brokered deposits classified as NOW, DDA, money market deposit and certificate accounts with contractual maturities.
    Glacier Bancorp, Inc.
    Loan Portfolio by Regulatory Classification
     
      Loans Receivable, by Loan Type   % Change from
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Custom and owner occupied construction $ 235,915     $ 233,978     $ 290,572     $ 306,106     1  %   (19) %   (23) %
    Pre-sold and spec construction   203,610       198,219       236,596       287,048     3  %   (14) %   (29) %
    Total residential construction   439,525       432,197       527,168       593,154     2  %   (17) %   (26) %
    Land development   205,704       209,794       232,966       234,995     (2) %   (12) %   (12) %
    Consumer land or lots   189,705       190,781       187,545       184,685     (1) %   1  %   3  %
    Unimproved land   109,237       108,763       87,739       87,089     —  %   25  %   25  %
    Developed lots for operative builders   67,140       57,140       56,142       62,485     18  %   20  %   7  %
    Commercial lots   98,644       99,036       87,185       84,194     —  %   13  %   17  %
    Other construction   689,638       810,536       900,547       982,384     (15) %   (23) %   (30) %
    Total land, lot, and other construction   1,360,068       1,476,050       1,552,124       1,635,832     (8) %   (12) %   (17) %
    Owner occupied   3,121,900       3,087,814       3,035,768       2,976,821     1  %   3  %   5  %
    Non-owner occupied   4,001,430       3,941,786       3,742,916       3,765,266     2  %   7  %   6  %
    Total commercial real estate   7,123,330       7,029,600       6,778,684       6,742,087     1  %   5  %   6  %
    Commercial and industrial   1,387,538       1,400,896       1,363,479       1,363,198     (1) %   2  %   2  %
    Agriculture   1,047,320       962,384       772,458       785,208     9  %   36  %   33  %
    1st lien   2,462,885       2,353,912       2,127,989       2,054,497     5  %   16  %   20  %
    Junior lien   77,029       56,049       47,230       47,490     37  %   63  %   62  %
    Total 1-4 family   2,539,914       2,409,961       2,175,219       2,101,987     5  %   17  %   21  %
    Multifamily residential   921,138       1,027,962       796,538       714,822     (10) %   16  %   29  %
    Home equity lines of credit   1,004,300       974,000       979,891       950,204     3  %   2  %   6  %
    Other consumer   221,517       220,755       229,154       233,980     —  %   (3) %   (5) %
    Total consumer   1,225,817       1,194,755       1,209,045       1,184,184     3  %   1  %   4  %
    States and political subdivisions   993,871       777,426       834,947       833,618     28  %   19  %   19  %
    Other   188,792       180,505       204,111       209,983     5  %   (8) %   (10) %
    Total loans receivable, including
    loans held for sale    		   17,227,313       16,891,736       16,213,773       16,164,073     2  %   6  %   7  %
    Less loans held for sale 1   (46,126 )     (39,745 )     (15,691 )     (29,027 )   16  %   194  %   59  %
    Total loans receivable $ 17,181,187     $ 16,851,991     $ 16,198,082     $ 16,135,046     2  %   6  %   6  %

    ______________________________

    1 Loans held for sale are primarily 1st lien 1-4 family loans.
    Glacier Bancorp, Inc.
    Credit Quality Summary by Regulatory Classification
     
     

    Non-performing Assets, by Loan Type

    		   Non-
    Accrual
    Loans    		   Accruing
    Loans 90
    Days
    or More Past
    Due    		   Other real estate owned and foreclosed assets
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Sep 30,
    2024    		   Sep 30,
    2024    		   Sep 30,
    2024
    Custom and owner occupied construction $ 202   206   214   219   202   —   —
    Pre-sold and spec construction   3,705   2,908   763   763   2,942   763   —
    Total residential construction   3,907   3,114   977   982   3,144   763   —
    Land development   583   —   35   80   22   561   —
    Consumer land or lots   458   429   96   314   241   217   —
    Unimproved land   —   —   —   36   —   —   —
    Developed lots for operative builders   531   608   608   608   —   531   —
    Commercial lots   47   47   47   188   —   47   —
    Other construction   —   25   —   12,884   —   —   —
    Total land, lot and other construction   1,619   1,109   786   14,110   263   1,356   —
    Owner occupied   1,903   1,992   1,838   1,445   662   809   432
    Non-owner occupied   1,335   257   11,016   15,105   1,335   —   —
    Total commercial real estate   3,238   2,249   12,854   16,550   1,997   809   432
    Commercial and Industrial   2,455   2,044   1,971   1,367   1,408   1,047   —
    Agriculture   6,040   2,442   2,558   2,450   2,164   3,876   —
    1st lien   6,065   2,923   2,664   2,766   3,724   2,341   —
    Junior lien   279   492   180   363   279   —   —
    Total 1-4 family   6,344   3,415   2,844   3,129   4,003   2,341   —
    Multifamily residential   392   385   395   —   392   —   —
    Home equity lines of credit   2,867   2,145   2,043   1,612   1,903   964   —
    Other consumer   1,111   1,089   1,187   942   663   247   201
    Total consumer   3,978   3,234   3,230   2,554   2,566   1,211   201
    Other   148   16   16   1,141   —   148   —
    Total $ 28,121   18,008   25,631   42,283   15,937   11,551   633
    Glacier Bancorp, Inc.
    Credit Quality Summary by Regulatory Classification (continued)
     
      Accruing 30-89 Days Delinquent Loans,  by Loan Type   % Change from
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023
    Custom and owner occupied construction $ 13   $ 1,323   $ 2,549   $ —   (99) %   (99) %   n/m
    Pre-sold and spec construction   1,250     816     1,219     599   53  %   3  %   109  %
    Total residential construction   1,263     2,139     3,768     599   (41) %   (66) %   111  %
    Land development   157     —     163     44   n/m   (4) %   257  %
    Consumer land or lots   747     411     624     528   82  %   20  %   41  %
    Unimproved land   39     158     —     87   (75) %   n/m   (55) %
    Commercial lots   —     —     2,159     1,245   n/m   (100) %   (100) %
    Other construction   —     21     —     —   (100) %   n/m   n/m
    Total land, lot and other construction   943     590     2,946     1,904   60  %   (68) %   (50) %
    Owner occupied   5,641     4,326     2,222     652   30  %   154  %   765  %
    Non-owner occupied   13,785     8,119     14,471     213   70  %   (5) %   6,372  %
    Total commercial real estate   19,426     12,445     16,693     865   56  %   16  %   2,146  %
    Commercial and industrial   3,125     17,591     12,905     2,946   (82) %   (76) %   6  %
    Agriculture   16,932     5,288     594     604   220  %   2,751  %   2,703  %
    1st lien   6,275     2,637     3,768     1,006   138  %   67  %   524  %
    Junior lien   13     17     1     355   (24) %   1,200  %   (96) %
    Total 1-4 family   6,288     2,654     3,769     1,361   137  %   67  %   362  %
    Home equity lines of credit   4,567     5,432     4,518     3,638   (16) %   1  %   26  %
    Other consumer   2,227     2,192     3,264     1,821   2  %   (32) %   22  %
    Total consumer   6,794     7,624     7,782     5,459   (11) %   (13) %   24  %
    Other   1,442     1,347     1,510     1,515   7  %   (5) %   (5) %
    Total $ 56,213   $ 49,678   $ 49,967   $ 15,253   13  %   13  %   269  %

    ______________________________

    n/m – not measurable
    Glacier Bancorp, Inc.
    Credit Quality Summary by Regulatory Classification (continued)
     
      Net Charge-Offs (Recoveries), Year-to-Date
    Period Ending, By Loan Type    		   Charge-Offs   Recoveries
    (Dollars in thousands) Sep 30,
    2024    		   Jun 30,
    2024    		   Dec 31,
    2023    		   Sep 30,
    2023    		   Sep 30,
    2024    		   Sep 30,
    2024
    Pre-sold and spec construction $ (4 )   (4 )   (15 )   (12 )   —   4
    Land development   (21 )   (1 )   (135 )   (134 )   —   21
    Consumer land or lots   (21 )   (22 )   (19 )   (14 )   —   21
    Unimproved land   5     5     —     —     5   —
    Commercial lots   319     319     —     —     319   —
    Other construction   —     —     889     —     —   —
    Total land, lot and other construction   282     301     735     (148 )   324   42
    Owner occupied   (73 )   (73 )   (59 )   (104 )   —   73
    Non-owner occupied   (3 )   (2 )   799     500     —   3
    Total commercial real estate   (76 )   (75 )   740     396     —   76
    Commercial and industrial   1,272     644     364     (11 )   1,839   567
    Agriculture   65     68     —     —     68   3
    1st lien   (34 )   (22 )   66     98     —   34
    Junior lien   (60 )   (55 )   24     32     10   70
    Total 1-4 family   (94 )   (77 )   90     130     10   104
    Multifamily residential   —     —     (136 )   —     —   —
    Home equity lines of credit   (31 )   1     (6 )   20     35   66
    Other consumer   753     493     1,097     816     1,056   303
    Total consumer   722     494     1,091     836     1,091   369
    Other   6,561     4,611     7,447     5,430     9,074   2,513
    Total $ 8,728     5,962     10,316     6,621     12,406   3,678
     

    Visit our website at www.glacierbancorp.com

    CONTACT: Randall M. Chesler, CEO
    (406) 751-4722
    Ron J. Copher, CFO
    (406) 751-7706

    The MIL Network –

  • MIL-OSI: Ninepoint Partners Announces Estimated October 2024 Cash Distributions for Ninepoint Cash Management Fund – ETF Series

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint Partners”) today announced the estimated October 2024 cash distribution for the ETF Series of Ninepoint Cash Management Fund (the “Fund”). Ninepoint Partners expects to issue a press release on or about October 30, 2024, which will provide the final distribution rate. The record date for the cash distribution is October 31, 2024, payable on November 7, 2024.

    All estimates in this document are based on the accounting data as of October 24, 2024. Due to subscriptions and/or redemptions and/or other factors, the final October 2024 distribution may differ from these estimates and the difference could be material. The information included in this letter is for reference purposes only. Please reconcile all information against your official client statements. This is not intended to be a statement for official tax reporting purposes or any form of tax advice.

    The actual taxable amounts of distributions for 2024, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2025. Securityholders can contact their brokerage firm for this information.

    The per-unit estimated October distribution is detailed below:

    Ninepoint ETF Series Ticker Cash Distribution per unit Notional Distribution per unit CUSIP
    Ninepoint Cash Management Fund NSAV $0.18966 $0.00000 65443X105


    About Ninepoint Partners

    Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.

    For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at 416.362.7172 or 1.888.362.7172 or invest@ninepoint.com.

    Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.

    Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Please note that distribution factors (breakdown between income, capital gains and return of capital) can only be calculated when a fund has reached its year-end. Distribution information should not be relied upon for income tax reporting purposes as this is only a component of total distributions for the year. For accurate distribution amounts for the purpose of filing an income tax return, please refer to the appropriate T3/T5 slips for that particular taxation year. Please refer to the prospectus or offering memorandum of each Fund for details of the Fund’s distribution policy.

    The payment of distributions and distribution breakdown, if applicable, is not guaranteed and may fluctuate. The payment of distributions should not be confused with a Fund’s performance, rate of return, or yield. If distributions paid by the Fund are greater than the performance of the Fund, then an investor’s original investment will shrink. Distributions paid as a result of capital gains realized by a Fund and income and dividends earned by a Fund are taxable in the year they are paid. An investor’s adjusted cost base will be reduced by the amount of any returns of capital. If an investor’s adjusted cost base goes below zero, then capital gains tax will have to be paid on the amount below zero.

    Sales Inquiries:

    Ninepoint Partners LP
    Neil Ross
    416-945-6227
    nross@ninepoint.com

    The MIL Network –

  • MIL-OSI USA: Rep. Fitzgerald Attends Judiciary Committee Field Hearing in Milwaukee

    Source: United States House of Representatives – Congressman Scott Fitzgerald (WI-05)

    WASHINGTON, DC – Today, Congressman Scott Fitzgerald (WI-05) attended a House Judiciary Committee field hearing in Milwaukee titled: “The Biden-Harris Border Crisis: Wisconsin Perspectives.”

    “President Biden and Vice President Kamala Harris’ open-border policies have enabled our southern border crisis and have negatively impacted Wisconsin communities. Take Whitewater, for example, where the local police department estimates nearly 800-1,000 foreign nationals have settled since just 2022. These kinds of numbers have a tremendous strain on a community whose population is just 15,000,” said Rep. Fitzgerald. “Today’s Judiciary Committee field hearing in Milwaukee allowed us members, and the public, to cut through the noise and hear directly from local experts about the difficulties this crisis has brought upon our nation’s communities. It was an important conversation, and I appreciate every single witness for sharing their unique testimony.”

    To watch Rep. Scott Fitzgerald’s full Q&A at the field hearing click here.

    The committee hearing welcomed the following witnesses to testify:

    • Jacob “Jake” J. Curtis, General Counsel and Director of Center for Investigative Oversight, Institute for Reforming Government.
    • Rick Rachwal, Co-Founder and Vice-President of the Board, Love, Logan Foundation.
    • Dale J. Schmidt, Sheriff, Dodge County Sheriff’s Department.
    • The Honorable Eric Toney, District Attorney, Fon du Lac County, Wisconsin.
    • Henri Kinson, Former School Board Member, Whitewater Unified School District, Whitewater, Wisconsin

     ###

    MIL OSI USA News –

  • MIL-OSI USA: 10.23.2024 Sen. Cruz Honored for Major South Texas Victory, Awarded Key to the City of Laredo

    US Senate News:

    Source: United States Senator for Texas Ted Cruz
    Laredo, TEXAS – U.S. Sen. Ted Cruz (R-Texas), Ranking Member of the Senate Commerce, Science, and Transportation Committee, was honored today by the city of Laredo and awarded the Key to the City for his leadership in streamlining the presidential permitting process and securing presidential permits to build and expand four major international bridges in South Texas, including two in Laredo.
    Upon receiving the Key to the City, Sen. Cruz said, “I am honored and humbled to receive the Key to the City—an incredible distinction from an amazing place in Texas. I have to say I love South Texas, I love the city of Laredo, it is an incredible hub of commerce and port to the entire world. My passion, my number one priority is jobs, jobs, jobs, and that means fighting for the people of Laredo, fighting for the people of South Texas, to have more jobs, and better jobs, and higher wages.
    “I will say, over the past several years, I’ve been proud to work very closely with Mayor Treviño, and very closely with my friend Congressman Henry Cuellar, and County and business leaders, fighting for jobs here in Laredo and throughout South Texas. We worked together on expediting the permitting of four bridges here in South Texas: two in Laredo, one in Eagle Pass, and one in Brownsville. All four of those bridges were delayed by bureaucratic roadblocks coming from the Biden-Harris White House. A delegation from the city of Laredo asked me to help, asked me to lead the effort to get this done. I told them I’d be proud to do so, and we were able to draft legislation, bipartisan legislation, and pass it through the Senate with bipartisan support. I worked hand in hand with Congressman Cuellar, we passed it through the House with bipartisan support. It was signed into law in December of last year, and just a few months ago those permits were granted.”
    BACKGROUND
    Last year, Sen. Cruz authored and secured into law a provision in the National Defense Authorization Act (NDAA) for Fiscal Year 2024 to streamline the presidential permitting process for new and expanded bridges across the Rio Grande in Webb, Cameron, and Maverick Counties. The language required the State Department to submit for approval and the White House to approve or deny the permits for these projects in 60 days respectively. Sen. Cruz was joined by Sen. John Cornyn (R-Texas), and Reps. Henry Cuellar (D-Texas), Vicente Gonzalez (D-Texas), Monica de la Cruz (R-Texas), Joaquin Castro (D-Texas), and Tony Gonzales (R-Texas) in working to secure this provision.

    MIL OSI USA News –

  • MIL-OSI USA: Senators Collins, Shaheen Call on Navy to Protect Employee Pay and Benefits at Portsmouth Naval Shipyard

    US Senate News:

    Source: United States Senator for Maine Susan Collins

    Washington, D.C. – U.S. Senators Susan Collins and Jeanne Shaheen (D-NH) sent a bipartisan letter to the U.S. Department of the Navy urging the branch to reconsider the Office of Civilian Human Resources’ (OCHR) decision to review and modify civilian workforce position classifications across four public shipyards, including Portsmouth Naval Shipyard. In their letter to Secretary Carlos Del Toro and Chief of Naval Operations Admiral Lisa Franchetti, the Senators noted that the review could result in civilian employees losing pay and benefits as well as negatively impact efforts to eliminate submarine maintenance backlogs.

    “Should OCHR’s review result in position description demotions and salary decreases for a significant population of technical professionals, it would cripple efforts to staff and support the needs of the Navy,” the Senators wrote. “We, therefore, ask for your support in protecting our shipyard employees by reconsidering OCHR’s directive and by engaging with OPM to find a position that both maintains the integrity of the Federal and Department of Navy Classification Programs while protecting the wages and benefits of our valued workforce.”

    “Today’s security environment requires the United States to have a combat-credible undersea fleet to maintain a competitive edge over our adversaries.  The overwhelming production capacity of the People’s Republic of China (PRC), Russia’s steady production progress toward fifth generation submarines, and growing cooperation between these authoritarian regimes will create additional demands on the U.S. submarine force. Meanwhile, the U.S. submarine industrial base continues to face maintenance shortfalls at our four public shipyards that affect the Navy’s ability to get boats back into the fleet on time. Reducing these maintenance backlogs is contingent on a robust, well-trained shipyard workforce,” the Senators concluded.

    The complete text of their letter can be read here.

    MIL OSI USA News –

  • MIL-OSI: STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Sterling Bancorp, Inc.– SBT

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Sterling Bancorp, Inc. (Nasdaq: SBT), relating to a proposed merger with EverBank Financial Corp. Under the terms of the agreement, EverBank will acquire all outstanding shares of Sterling Bancorp in an all-cash transaction.

    Click here for more information https://monteverdelaw.com/case/sterling-bancorp-inc/. It is free and there is no cost or obligation to you.

    NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

    1. Do you file class actions and go to Court?
    2. When was the last time you recovered money for shareholders?
    3. What cases did you recover money in and how much?

    About Monteverde & Associates PC

    Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

    No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

    Contact:
    Juan Monteverde, Esq.
    MONTEVERDE & ASSOCIATES PC
    The Empire State Building
    350 Fifth Ave. Suite 4740
    New York, NY 10118
    United States of America
    jmonteverde@monteverdelaw.com
    Tel: (212) 971-1341

    Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

    The MIL Network –

  • MIL-OSI: VAALCO Announces Timing of Third Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 24, 2024 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today announced the timing of its third quarter 2024 earnings release and conference call.

    The Company will issue its third quarter 2024 earnings release on Monday, November 11, 2024 after the close of trading on the New York Stock Exchange and host a conference call to discuss its financial and operational results on Tuesday morning, November 12, 2024 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time and 3:00 p.m. London Time.)

    Interested parties in the United States may participate toll-free by dialing (833) 685-0907. Interested parties in the United Kingdom may participate toll-free by dialing 08082389064. Other international parties may dial (412) 317-5741. Participants should ask to be joined to the “Vaalco Energy Third Quarter 2024 Conference Call.” This call will also be webcast on Vaalco’s website at www.vaalco.com. An audio replay will be available on the Company’s website following the call.

    About Vaalco

    Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Cote d’Ivoire, Equatorial Guinea and Canada.

    For Further Information

    Vaalco Energy, Inc. (General and Investor Enquiries) +00 1 713 543 3422
    Website: www.vaalco.com
       
    Al Petrie Advisors (US Investor Relations) +00 1 713 543 3422
    Al Petrie / Chris Delange  
       
    Buchanan (UK Financial PR) +44 (0) 207 466 5000
    Ben Romney / Barry Archer VAALCO@buchanan.uk.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI USA: Senator Hassan Meets with Drug Enforcement Administration Leaders in NH

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan

    BEDFORD – U.S. Senator Maggie Hassan visited the U.S. Drug Enforcement Administration (DEA)’s New Hampshire office on Tuesday, where officials briefed her on current drug trends across the state and the agency’s strategic partnerships with local communities. 

    During her visit, Senator Hassan toured the facility’s temporary on-site laboratory, which supports the DEA Manchester District Office’s response to local drug threats. She was also briefed on plans for a new regional DEA laboratory in Londonderry that will serve the New England region when it opens in 2026, accelerating the testing of drug evidence and strengthening investigations across the region.

    “The dedicated law enforcement agents at DEA are working tirelessly to keep deadly drugs like fentanyl out of New Hampshire communities,” said Senator Hassan. “I will continue to work to ensure that our law enforcement partners have the resources and tools that they need to protect our neighborhoods and combat drug trafficking across the Granite State and the country.”

    Senator Hassan has led efforts to stop drug trafficking and support communities devastated by the fentanyl crisis. In September, Senator Hassan reintroduced bipartisan legislation to curb the spread of rapidly evolving synthetic drugs by allowing the DEA to restrict and penalize substances that have a substantially similar chemical structure and effect on the body as fentanyl. In April, Senator Hassan and colleagues’ FEND Off Fentanyl Act, which targets the illicit fentanyl supply chain and will impose sanctions on fentanyl traffickers, was signed into law. Senator Hassan also developed and help pass into law the END FENTANYL Act, which helps Customs and Border Protection crack down on fentanyl trafficking at the border.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Murray Establishes & Funds Scientific Consortium in Washington State, Expanding NASA Footprint in PNW

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Murray wrote and passed the funding bill that provided the resources for this award and directly authored the provision to establish the BioS-ENDURES Consortium

    Seattle, WA – Today, U.S. Senator Patty Murray (D-WA), Chair of the Senate Appropriations Committee, announced a $2.5 million NASA award to establish a scientific consortium based at the University of Washington in partnership with Washington State University and the Pacific Northwest National Laboratory. The award was funded through a provision in the Fiscal Year 2024 government spending bill authored by Senator Murray to establish a consortium within the Biological and Physical Sciences—and resulted in the establishment of the Biology in Space: Establishing Networks for DUrable & REsilient Systems (BioS-ENDURES) Consortium. The BioS-ENDURESConsortium will focus on innovation, acceleration, and implementation of space biology specific knowledge and technology centered on human-plant-microbiome relationships to enable a durable human presence in low Earth orbit and beyond.  

    “As Chair of the Senate Appropriations Committee, I am writing our funding bills to invest in Washington state’s growing innovation economy,” said Senator Murray. “By establishing this scientific consortium here in Washington state, we are laying the groundwork to bring even more private and federal investment to our state’s growing aerospace industry. If we want to maintain our competitive edge, we have to stay at the forefront of scientific discovery—and this federal research partnership will help us do that. Investing in scientific discovery is an investment that pays off—this is a next chapter in a story of inquiry, invention, innovation, exploration, and discovery of new frontiers.”

    “The University of Washington is excited to have this opportunity to contribute to the development of new capabilities that will enable a sustainable human presence in space,” said Mari Ostendorf, Vice Provost of Research, University of Washington. “This consortium enables new partnerships and brings together investigators who have a long history with NASA and space applications with researchers who have deep expertise in human/animal, plant, and microbial biology. This research will push the boundaries of our scientific understanding to reveal new biological mechanisms that will address both sustainability and risk mitigation needs in space. We look forward working with WSU, PNNL, and NASA, as well as with other industry and science partners to accelerate space technology.”

    “This represents an exciting opportunity for the state of Washington to continue building our capacity for critical research to understand and improve human-plant-microbial systems for space habitation,” said Dr. Michael Wolcott, Interim Vice President of Research at Washington State University. “This work will have a direct contribution to humankind’s ability to travel—and live—in space. WSU is thrilled to be part of this collaborative effort with our colleagues at the University of Washington and the Pacific Northwest National Laboratory and looks forward to continuing this work with NASA.”

    “Pacific Northwest National Laboratory is thrilled to join forces with the University of Washington and Washington State University in the BioS-ENDURES consortium,” said Malin Young, Associate Laboratory Director, Earth and Biological Sciences. “Together, we’re harnessing our cutting-edge life science capabilities to help NASA achieve its mission of establishing a sustainable and lasting human presence in low Earth orbit, on the Moon, on Mars, and beyond.”

    A more thorough understanding is needed of mechanisms underlying responses to space-relevant stressors (ionizing radiation, microgravity, circadian disruption, abiotics, and biotics) to both humans and plant food sources and what role microbiomes may play in shaping those responses.  Human/animal, plant, and microbial biologists will work together to ensure an integrated view of the space flight biosphere by enhancing data acquisition, modeling, and testing.

    Human/animal, plant, and microbial biologists will work together to ensure an integrated view of the space flight biosphere by enhancing data acquisition, modeling, and testing. BioS-ENDURES has three thrust areas focusing on the effects of spaceflight stressors: 

    • Develop monitoring capabilities to measure underlying molecular status (biomarkers) of humans, animal models, plants and their associated microbial communities.
    • Build models to predict human-plant-microbe robustness and interactions among organisms in space.
    • Validate and apply understanding of human and plant health, including promoting beneficial human-plant-microbe interactions, to enhance health in space.

    The BioS-ENDURES Consortium is built upon a collaboration between the University of Washington, Washington State University, the Pacific Northwest National Laboratory, and science and industry advisory boards. Consortium members will partner closely with NASA to align work with current and projected needs. Funding from NASA will support proof-of-principle demonstration projects each year to advance the science of the three thrusts, annual symposia tracks (some full consortium, some with tighter focus), and costs of physical testing.

    MIL OSI USA News –