The Government is moving swiftly to ensure Kiwis will be able to benefit from open banking by Christmas this year, says Commerce and Consumer Affairs Minister Scott Simpson.
“Recently our Government passed the Customer and Product Data Act – one of the items in our Quarter 1 Action Plan to improve competition in banking, energy, and other key sectors that touch the daily lives of Kiwis.
“I’m pleased to announce that Cabinet has now agreed to designate banking as the first sector under the Act. This sets out the rules for how open banking will work in practice in New Zealand.”
Open banking allows third parties such as fintech (financial technology) companies to access data held by banks on behalf of a customer, with the customer’s consent. Fintechs use that data to develop innovative products and services that traditional banks might not offer, such as faster payments, speedier mortgage comparisons, and money-saving apps.
“The big four banks – ANZ, ASB, BNZ, and Westpac – will need to make sure their open banking systems meet the new requirements by 1 December. Kiwibank will need to be ready by June 2026.
“Our Government is absolutely committed to boosting competition in the banking sector to provide greater choice and lower costs to Kiwis, and that’s why we’ve acted promptly to bring open banking another crucial step closer to reality. We are leaving no stone unturned to boost competition across our economy, and I expect the banks to be fully prepared so their customers can take advantage of open banking from day one.
“Designating the banking sector is necessary to speed up the uptake of open banking in New Zealand. It will ensure the major banks are not creating unnecessary barriers for fintechs and smaller players.
“There are many examples overseas of open banking in action, and I can’t wait to see similar success stories in New Zealand. For example in Australia, open banking has helped speed up home loan applications as customers can share their banking data with brokers much faster than before.
“I’ve also seen innovative apps that help consumers find and cancel forgotten or unwanted subscription services, which would otherwise be quietly siphoning their hard-earned money.
“I’m hoping this Christmas will be an extra joyous one for Kiwi consumers, with better competition among our banks and greater choice on the horizon.”
Note to editors:
A fact sheet with further information is attached.
Invasive predators like rats, stoats, and possums are putting pressure on nature, and are part of the reason New Zealand has one of the highest rates of threatened species in the world.
With the support of the Department of Conservation (DOC), Nelson Marlborough Institute of Technology (NMIT) is presenting the Level 3 unit Predator Trapping Methods at the DOC Simmonds Rd workshop.
DOC Community Ranger Garry Davis says there are 12 spots still available, and DOC Whanganui will fund a limited number of people to attend free of charge.
“We’re looking to sponsor people who will be willing to share their skills further, whether it be to their neighbours or with other parts of the community.”
The in-person workshop allows participants to develop understanding and practical skills in a supportive environment.
“The course is aimed at anyone interested in predator control and will benefit those who would like to trap predators on their property or in the community,” says Garry.
DOC Kaitohu Matua Treaty Partner Relationships Moira Rihia is a Taumarunui local, and thinks the time is right for the trapping workshop.
“We are passionate team for the taiao here in Taumarunui, and unsurprisingly we’re seeing growing community interest in trapping and other ways to protect nature.
“We know DOC can’t do it alone. There’s nature everywhere in our communities, it’s not just wrapped up in conservation land. All of us can contribute to make a real difference to the places we love – and predator trapping is one way to help.”
For more information or to register your interest, email gdavis@doc.govt.nz.
Background information
Course information is on the NMIT website, but sponsored positions are only available by contacting DOC.
Date: 01 May 2025Source: Released by Ngāi Tahu 01/05/2025
11-year-old Taeatanga, one of the three male kākāpō currently living within the sanctuary as part of a fenced habitat trial, started booming in December and 6-year-old Tautahi followed suit. It’s unknown if Bunker, the third and youngest male at the site, boomed this year.
Booming is one aspect of the elaborate breeding behaviour of male kākāpō, designed to attract the attention of potential mates.
Te Rūnanga o Ngāi Tahu representative on the Kākāpō Recovery Group Tāne Davis says that this occurrence is a significant milestone for the iwi involved in caring for and protecting these precious taonga.
“The iwi ki te iwi (iwi to iwi) transfer of these kākāpō from Ngāi Tāhu to Ngāti Koroki Kahukura, Raukawa, Ngāti Hauā, and Waikato was a commitment to share kaitiakitanga of these manu,” Tāne Davis says.
“While males booming does not necessarily mean that the maunga will be a successful breeding site in future, it is a clear sign that the manu are feeling at home and comfortable to exhibit their natural behaviours,” he says.
Ngāti Korokī Kahukura representative and Sanctuary Mountain Maungatautari Cultural Advocate and Educator, Bodie Taylor says having these manu at Maungatuatari is an honour and mana whenua continues to take the role of whāngai (fostering) of these taonga very seriously.
“Hearing the booming of kākāpō back on Maungatautari is a privilege and a testament to the importance and success of our relationship with Ngāi Tahu. We are looking forward to the next steps in this journey to hopefully welcoming female kākāpō to Maungatautari one day, and the opportunity of being able to contribute to the population growth of these precious manu,” he says.
Sanctuary Mountain Maungatautari Chief Executive Helen Hughes wholeheartedly supports this, saying that this incredible step in the journey of kākāpō at Sanctuary Mountain Maungatautari is to be truly celebrated.
“It has been a wonderful, and at times challenging, 18 months of learning, both for the birds and for everyone involved in this ground-breaking recovery effort. Our team of dedicated sanctuary rangers, who care for these birds daily, are gaining and sharing vital knowledge about their behaviour on Maungatautari and the booming is an extremely positive sign for the future of kākāpō at Sanctuary Mountain Maungatautari,” she says.
DOC’s Kākāpō Recovery Programme Operations Manager Deidre Vercoe said the news was an encouraging early indication that the habitat may be suitable for the males, however it was still too early to know whether the site could one day support a breeding population.
“There are a lot of factors at play. These males have been supplementary fed over the last six months to help with the challenges of keeping them settled inside the fenceline. It is likely this has helped them reach booming condition, so we don’t know if they would boom on the maunga without this feeding. Males have also been known to boom without the presence of females before, at island sites that didn’t support a breeding population. It will be many years before we know enough about this site and its future for kākāpō.”
Deidre said the sound of kākāpō booming would have been prolific throughout the country before the arrival of humans and mammalian predators. She dreams that will be true again one day.
“Knowing we have helped return that sound to mainland Aotearoa after decades of kākāpō existing only on offshore islands is very special. There is a long way to go, but milestones like this offer an exciting glimpse into the future we are striving for, when kākāpō can live safely amongst us once again.”
Background information
About the fenced habitat trial
The site trial at Sanctuary Mountain Maungatautari began in July 2023. Ten male kākāpō were introduced to the trial in total, but seven have since been returned to the southern islands to help reduce the significant monitoring workload following multiple breaches of the fence.
Three males continue to live at the site, helping provide crucial lessons for the future of this critically endangered species. The trial is run by DOC’s Kākāpō Recovery Programme, with support from its National Partner Meridian Energy, together with Treaty Partner Te Rūnanga o Ngāi Tahu, Sanctuary Mountain Maungatautari, Ngāti Koroki Kahukura, Ngāti Hauā, Raukawa and Waikato.
Kākāpō breeding behaviour
For more information on the elaborate breeding behaviour of male kākāpō see Kākāpō behaviour.
It’s more than 4 years since the $1.2 billion Jobs for Nature programme was set up as part of the COVID-19 recovery package. DOC has managed about 40 percent of the funding, allocated to 225 projects, many of which had a focus on enhancing the biodiversity of freshwater habitat and ecosystems.
Our established Ngā Awa river restoration programme works in Treaty partnership in 12 river catchments across the country, taking a mountains-to-sea approach. The rivers are diverse, ranging from Waipoua in Northland to Taiari (Taieri) in Otago, and reflect the variations of climate, soil type, vegetation and land uses in Aotearoa New Zealand.
The existing partnerships enabled us to support mana whenua (people with authority over the land) and local groups to apply for Jobs for Nature grants with a focus on river restoration in their catchments. A total of $42,918,000 went to freshwater restoration projects in Ngā Awa rivers. This significant investment has supported ‘boots on the ground’ work known to improve the biodiversity of waterways.
Restoration planting and fencing beside a tributaryof theRakitata River | Sarah Wilcox, DOC
As many of the projects are now wrapping up, it’s a good opportunity to celebrate the successes and reflect on what’s been achieved for freshwater and the local river communities. This article focuses on work to date in three Ngā Awa rivers, with selected data used to illustrate progress. All figures were current in January 2025.
Whanganui River, Central North Island
• Number of plants added to riparian or wetland areas: 373,958 and other areas 56,530. • New fencing: 129,513m, fencing maintained: 10,218m. • Area treated for weeds: 159.01ha, area treated for pests: 512ha. • Total employment starts: 158. • Project completion date: September 2025.
The Mouri Tūroa project, valued at $7.86 million, is a partnership between DOC and Ngā Tāngata Tiaki o Whanganui with the goal of improving the health and wellbeing of Te Awa Tupua.
Gordon Cribb (Whanganui iwi), project manager, says the project is based around a relationship with the Whanganui River and guided by Tupua te Kawa, the value system that recognises the interdependence of the land and river.
“We’ve kept the project team small to efficiently bring together local suppliers and businesses with landowners to get the work done – 68 contractors and 5 nurseries have been connected to a wide range of landowners via 136 expressions of interest.”
Fencing stock out of wetlands and tributaries was a priority. “It mitigates pollution by reducing the amount of sediment going into waterways, as well as supporting landowners to comply with the stock exclusion regulations. Many of the fenced areas have been planted with natives, with pest control in place to keep the survival rate high.
“The only way we’re going to see an improvement in water quality, biodiversity and ecosystem health is through collective efforts across all landowner types. It’s encouraging to see farmers, hapū, marae and community groups taking ownership of the restoration work.”
A completed farm fencing projectin theWhanganui River catchment | Gordon Cribb
Ko Waikanae Te Awa, Kāpiti Coast
• Number of plants added to riparian, lake or wetland areas: 22,300, and other areas: 114,300. • New fencing: 6,700m. • Area treated for possums or goats: 2,578ha. • Total employment starts: 94, people completed formal training: 67. • Project completion date: December 2024.
Groundtruth Ltd received the $8.5 million Mahi mō te Taiao – Waikanae Jobs for Nature contract, partnering with Te Ātiawa ki Whakarongotai. Kristie Parata of Te Ātiawa ki Whakarongotai was the iwi (tribal) coordinator.
“The model here was to run a practical three-month conservation and land management training programme with groups of six to eight tauira (students). Tauira then moved into teams working as kaitiaki (carers) and kaimahi (trainees) on their awa and whenua, caring for the environment. Ten groups were trained.
Kaimahi arawai learning about stream health with DOC staff as part of their training, Maungakōtukutuku Stream | Ashley Alberto, DOC
“Our kaimahi learned a wide range of skills, including plant propagation, environmental monitoring, fencing, track cutting, and pest control. Many reconnected with their past and heritage, and discovered new life paths and future goals. One said, ‘I thought I was here to save the taiao (nature) but found the taiao was saving me.’”
Ātiawa ki Whakarongotai Charitable Trust has transitioned elements of the project including some kaimahi and the new plant nursery, into an iwi-led environmental business to continue the restoration work in the Waikanae catchment and iwi rohe (area).
Four years have passed, and the river speaks differently now. The Waikanae flows steady, its waters no longer weighed by the silence of neglect. We’ve begun to mend its edges, to tend its wounds, but the work is far from finished. Each effort, a first step on a path that stretches beyond us. – Excerpt from poem by Dan Dupont, Training and Operations Manager, Groundtruth Ltd
Kaitiaki and tauira of Waikanae Jobs for Nature at the closing celebration, December 2024, Otaraua Park, Waikanae | Sarah Wilcox, DOC
Rakitata (Rangitata) River, Canterbury
Three Jobs for Nature projects have supported restoration work in this river. Te Rūnanga o Arowhenua received $2.75 million for the Arowhenua Native Nursery and $8.7 million for restoration work in the lower river. The Upper Rangitata Gorge Landcare Group was awarded $7.3 million to lead restoration work in the upper river.
Funding for the nursery ended in December 2024 and the business is now transitioning to a commercial wholesale model. Funding for the restoration projects ends in March 2026.
Totals across the projects are as follows: • Number of plants produced: 616,236. • Number of plants added to riparian, lake or wetland areas: 257,869. • New fencing: 124,631m. • Area treated for weeds: 81,250ha. • Area treated for rats, mustelids and other animal pests: 122,364ha. • Area treated for wallabies: 107,935ha.
Arowhenua Native Nursery | Brad Edwards, DOC
Brad Edwards, DOC’s Ngā Awa river ranger for the Rakitata River, is proud of how work across the different projects has come together.
“Every project is important, from seed collection and propagation at the nursey, to the crews out preparing the ground and planting, maintenance work while the plants get going, extensive fencing to keep stock out of the riverbed and the landscape-scale pest control.”
As well as trapping sediment and nutrients, the planting is creating a native corridor along the whole river. Established trees will be seed sources for birds to spread into new areas.
A predator control network of more than 3,500 traps has been set up and maintained to protect the threatened birds that nest on the riverbed, including ngutu pare/wrybill and tarapirohe/black-fronted tern. Predator catches for 2024 totalled 2,828 hedgehogs, 368 feral cats and 479 stoats.
“The variety and scale of what’s been achieved through Jobs for Nature is absolutely staggering.”
Jobs for Nature team planting beside Deep Stream, a spring-fed tributary of the Rakitata River, in October 2024 | Greg Wilkinson
Measuring changes and benefits
Anyone who works in freshwater knows that making change is a long-term game. It can take years for positive changes, like more fish, improved water quality or a reduction in sediment, to show up. Monitoring has therefore been part of these projects, so future changes can be tracked.
An October 2024 impact report by MartinJenkins1 estimated that the DOC-managed Jobs for Nature projects will deliver a return of $4 for every $1 spent. This figure is based on economic, environmental and wellbeing benefits, such as avoided irrigation loss, improved farm productivity, and reduced youth unemployment, water treatment costs and human health risks.
In its approach to Jobs for Nature, DOC chose to put people first and trust the work would follow. The benefits for people, however, are also significant for freshwater. Many people employed said they had formed a much deeper relationship with the place and the river, which could bring further lasting benefits for nature in the long term.
Source: Press Release Service – Press Release/Statement:
Headline: Petdirect Expands From Digital To Physical Retail
In a bold move against prevailing economic trends, New Zealand’s leading online pet retailer, Petdirect, announces plans for major retail expansion with new stores opening in Mt Roskill, Auckland and Tower Junction, Christchurch in the coming months. Following the tremendous success of its first brick-and-mortar location in Takapuna, which opened in October 2024, this strategic expansion solidifies the company’s position as a dominant force in New Zealand’s pet retail sector. The 100% Kiwi-owned and operated company, which just celebrated its 5th birthday, has rapidly evolved from an online startup during the pandemic to capturing a majority share of the online pet supply market.
This document provides the report and inventory for the greenhouse gas (GHG) emissions of Ministry of Health – Manatū Hauora (the Ministry) for the financial year 2023/24 (1 July 2023 to 30 June 2024).
The inventory has been prepared in accordance with the requirements of:
The Ministry for the Environment – Manatū mō te Taiao and Ministry of Business, Innovation and Employment – Hīkana Whakatutuki provided guidance in its development.
Inventory reports and any GHG assertions are expected to be verified by a third-party verifier. This assurance statement is attached.
Tens of thousands of Kiwis from the Far North to the Deep South are preparing for the start of the 2025 game bird season this Saturday (May 3).
Fish & Game New Zealand chief executive Corina Jordan said a strong breeding season has set the stage for an exciting Opening Weekend for hunters.
“We know the anticipation is building in communities nationwide as hunters gear up for the big day. Opening Weekend is a popular event on the calendar for New Zealanders from all walks of life.”
Jordan, who will join Minister for Hunting and Fishing James Meager at a maimai in Otago on Saturday, says New Zealand offers a wide range of hunting opportunities beyond just the Opening Weekend.
“New Zealand is a haven for game bird hunters, offering more than just the Opening Weekend. Hunters in many parts of the country have the opportunity to go game bird hunting all through winter.
“As much as game bird hunting is about the challenge, it’s also about the camaraderie with friends and family, the connection to nature, and the valued tradition of hunting, which has been passed down through generations.
“There’s nothing quite like the feeling of standing alongside fellow hunters on Opening Weekend and the opportunity to provide wild, sustainable food for family, friends, and communities up and down the country.”
The forecast for the Opening Weekend shows cloudy skies and mild temperatures across many regions, says Jordan.
“While the dry summer had raised concerns for game bird hunters in some parts of the country, recent rainfall has brought much-needed relief. This should lift the spirits of the approximately 60,000 hunters heading out this weekend.
“We also want to thank those farmers who are generously opening their farms to hunters — many of whom are hunters themselves. Their support helps ensure that the tradition of game bird hunting continues.”
Game bird hunting regional wrap
RegionDetailsNorthland RegionIn the last two weeks of April, some areas of Northland received three times the average expected rainfall for the month. Heavy and persistent falls have landed on much of the region’s east coast, causing widespread flooding. The west coast has been less affected but has still received some rain. This has been a relief for some who have had their wetlands and duck ponds replenished after a long dry spell but it is a cause for frustration for others. Hunters that have been feeding ponds may find that the ducks have dispersed around the floodplains to take advantage of the floodwater and the abundance of protein rich food that it brings. Many hunters are also unable to reach their maimai due to floodwater submerging their access tracks and, in some cases, their entire maimai. Whether the floodwater will subside by the weekend will depend on how much rain remains to fall. Opening Weekend is forecast to be fine and sunny, although a reasonable wind on Saturday will help keep the ducks moving. Hunting prospects are expected to be reasonable this season. Mallard/grey numbers look good, although there is likely to be a higher proportion of adults and fewer juveniles than last year, considering that the dry spring period will have resulted in lower-than-usual juvenile recruitment. Paradise duck numbers remain high, and with an increased bag limit of 25 birds, there will be an opportunity for some exciting hunting and taking home lean protein. Swan numbers are significantly lower than in previous years due to the large population from Lake Ōmāpere dispersing, with many leaving the region. Shoveler numbers remain stable, and pūkeko are as prevalent as ever. Upland game numbers are good this season and will provide an excellent opportunity to add some diversity to hunting activities and get more value out of the licence purchase with the longer season that is offered for pheasant and quail. Hunters that adapt to the change in conditions will do well this Opening Weekend. Those hunters whose maimai is unreachable are encouraged to hunt the margins of floodwater on or near the main flight lines of the river systems. Tactics normally used mid and late season — such as scouting for shallow floodwater and bird concentrations, will pay off — particularly for evening hunting. Fish & Game rangers will be out both days and look forward to seeing hunters enjoying the great tradition that is opening weekend.
Eastern regionThe Opening Weekend weather is looking promising for hunters in the Eastern Region. Given the forecast, the region predicts that Opening Weekend bags should be similar to last year. Eastern Council has decided to increase the season length for the 2025 mallard, grey, and shoveler duck season to six weeks, providing keen hunters with an additional opportunity. Paradise shelduck and black swan populations are on par with the last few years and pukeko are plentiful. Upland game hunting should be better than last year. Rangers will be out and about checking hunters’ bags and will be accompanied by police and Firearms Safety Authority staff in areas.
Hawke’s Bay regionWith a good amount of rain forecast in the days leading up to opening day, windy, cold conditions for Saturday and Sunday, and a good chance of more rain on Saturday morning, the prospects are good for Opening Weekend. There are good numbers of mallards and high numbers of paradise ducks; the rain should help keep the birds flying, the wind should keep them from flying straight out to sea, and the cold weather should make them hungry — maximising hunting opportunities for all hunters, particularly those who have put in good pre-season work. The upland prospects are looking equally good. The local Fish & Game team has seen good numbers of Quail and Pheasants on river margins and in forested areas, no doubt helped by a large number of donated cock pheasants released after last year’s upland season and the great breeding season with no major rain events, minimising juvenile mortality. We expect a good season with game birds in great condition. We wish all licence holders a happy and successful season while reminding them to carry their hunting licence and read and comply with the regulations.
Taranaki regionSummer drought periods have finally broken with recent rainfall, which has been happily received throughout the region. As water returns to ponds and wetlands that have been dry or at a low ebb over summer, birds will be congregating in these areas to feed on concentrations of worms and bugs. Recent trend counts have shown gamebird numbers are strong throughout Taranaki, Wanganui and the Waimarino. As we head into the wetter months and water starts to accumulate in paddocks of maise stubble and newly sown grass, productive hunts can be had, particularly for paradise shelduck, which, according to January moult counts, are currently in record-high numbers throughout the Taranaki ring plain. As a result of these higher numbers, the bag limit has been increased from 10 to 15 shelduck for opening weekend in Area C, with the rest of the season returning to the usual 10 birds. Recent monitoring has shown that mallard, black swan, and pūkeko populations remain stable in good numbers, providing plenty of hunting opportunities. The weather forecast is a mixed bag for the weekend, with sun and clear skies forecast from Saturday onwards, with strong southerly winds that ease on Sunday.
Nelson Marlborough regionThe regions mallard monitoring programme indicates numbers in the Marlborough area are up 20 percent the average. Also the regions paradise shelduck numbers are very v strong in the Tasman and Golden Bay area. This bodes well for hunters in the region in the coming months.
West Coast regionWest Coast game bird populations are in excellent shape. A wet spring provided ideal breeding conditions, leading to strong duckling and chick survival rates. Recent monitoring confirms that mallards, grey ducks, paradise shelducks, pūkeko, shoveler, and black swans are all in healthy numbers across the region. Though summer has been dry, the strong start to the breeding season means bird numbers remain high. Waterfowl have adapted to the changing conditions, with many concentrating around the most reliable water sources. This makes preseason scouting crucial, as identifying where birds are feeding and roosting offers hunters the best chance of success. Farm ponds and spring-fed creeks are often key feeding areas, while wetlands, riverbeds, and estuaries are expected to continue holding significant numbers of roosting birds.
North Canterbury regionHunters in North Canterbury should have plenty of opportunities this opening weekend. This week’s rain, however, will disperse birds by providing plenty of new habitat for the ducks to feed on so be prepared to move around to hunt your ducks. Te Waihora/Lake Ellesmere, regarded as one of New Zealand’s Waterfowlers’ bucket list hunting locations is looking fantastic. The Lake will be opened to the sea in the coming weeks, but it is at a perfect level for opening weekend. Elsewhere in the region, duck numbers are good following a mild summer, and with a three-month-long season, hunters will have lots of opportunities to hunt over the coming weeks.
Central South Island regionOverall, the relatively wet summer on the Plains and foothills has set up water levels nicely at hunting ponds; however, further inland, it has been much drier. Central South Island Fish & Game’s game bird population surveys suggest that, in general, the relatively wet summer on the Canterbury Plains has supported a productive breeding season, which bodes well for the 2025 season. A Canterbury Plains survey of mallard duck and paradise shelduck population undertaken in March observed healthy numbers — the third highest count since records began for mallard duck and the highest on record for paradise shelduck. Annual population monitoring shows black swan numbers are currently high in the Wainono Lagoon area and the Mackenzie Basin. The Central South Island Region game bird season is open until July 27th for waterfowl species: mallard duck, grey duck, NZ shoveller duck, black swan and pūkeko.
Otago regionGame bird hunters across the Otago region are gearing up for what looks to be an encouraging start to the 2025 season. Despite a change in monitoring approach this year, Otago Fish & Game officers are optimistic about duck numbers throughout the region following favourable breeding conditions. Anecdotal reports from across the region suggest promising populations in multiple areas. Reports from South Otago and West Otago note substantial bird numbers, while good numbers have been observed in the Taieri and the Maniototo areas. Five ranger teams will be checking compliance at both private and public hunting locations across Otago on Opening Weekend. Hunters are reminded to make firearms safe, present game bird licences when requested and follow rangers’ instructions.
Wellington regionA period of settled conditions across the lower North Island will come to an abrupt end just in time for the start of the season with rain and a strong southerly moving through late on Friday. While Opening Weekend weather looks a little calmer – cloudy with showers and westerlies – the forecast big southerly system will certainly stir birds up and get them moving for Opening Day, which is excellent news for hunters in the lower North Island. Our recent aerial trend counts for mallards in the Wellington Fish & Game region reveal a strong population, with higher numbers recorded in both the Wairarapa plains and Manawatu areas than this time last year. Large congregations of birds have been observed on small ponds and dams near recently harvested maize crops. The later-than-normal harvest means there is plenty of crop still to come in, and this will likely have kept ducks localised. Good numbers of mallards have also been holding on the big water, such as Lake Wairarapa, and loafing on the larger rivers in the region, like the Manawatu.
Southland RegionThe Southland region is expecting a strong season this year. The spring breeding season was productive, with favourable conditions leading to higher duckling survival. This has resulted in a good number of younger birds in the population, which are generally easier to hunt. Southland Fish & Game has recently completed pre-season mallard monitoring flights. While some areas, particularly Northern Southland, showed higher counts, mallard numbers across the region are sitting around the long-term average. This is good news for hunters, as it points to a typical Southland season with steady numbers, plenty of opportunity, and the prospect of a memorable opening weekend followed by a rewarding season overall. At this stage, the forecast is pointing toward still, calm conditions.
The City recently hosted a celebratory event to recognise the efforts of a dedicated group of volunteers.
Mayor Linda Aitken said the 2025 Community Services and Conservation Volunteers Dinner at the Wanneroo Civic Centre was an opportunity to honour our incredible volunteers and thank them for their contributions to the City.
“With the City of Wanneroo home to almost 240,000 residents and growing rapidly, we rely more than ever on dedicated and committed volunteers to help ensure it continues to be a great place to live, work and visit,” she said.
“Our 92 conservation and community services volunteers help the City in a variety of ways, supporting staff to deliver a range of programs and services for some of the most vulnerable members of our community and caring for our natural environment.”
Six volunteers were presented with peer-nominated excellence awards for outstanding dedication to their role and service to the City.
Bukamu Dube
Since 2021, Bukamu has been a member of the City’s Multicultural Advisory Group and currently serves as its Deputy Chairperson, helping shape conversations around diversion and inclusion in our City.
Outside the group, Bakumu runs a small business focused on training and community support, helping others from multicultural backgrounds navigate new opportunities.
Kadambii Barnao
Kadambii started her volunteering journey with the City in 2011, as part of the City’s first Reconciliation Action Plan Working Group, which has since evolved into the Aboriginal and Torres Strait Islander community reference group, Ni Kadadjiny Koort.
She remains an active and dedicated member of the group and a strong advocate for cultural values, human rights and reconciliation between Aboriginal and non-Aboriginal communities.
Andrew Fairbairn
Andrew has served as a dedicated member of the City’s Disability Access and Inclusion Reference Group since 2019, consistently offering thoughtful input and championing meaningful change.
He has helped to raise awareness about mobility mapping in our town centre, highlighting how features like gradients, surfaces, ramps and elevators can make a real difference for people with mobility challenges, helping them navigate public spaces with greater confidence and safety.
Jennie Villiers
Jennie’s journey as a volunteer with the City started in 2016 when she attended a community planning event as part of the City’s GOLD program.
After asking about walking and photography in Koondoola Bushland, she helped organise a guided wildflower walk and has been involved with the City ever since.
She first registered as a conservation volunteer, becoming one of our most active contributors – regularly weeding, collecting litter and supporting conservation events.
Now, she leads annual wildflower walks for the community and local schools, and has even obtained a flora license for educational use and detailed surveys of Koondoola Bushland.
In 2023, Jennie took the lead in running her own conservation activities, building a team and strengthening the Friends of Koondoola Bushland group along the way.
Volunteering is a great way to get involved with your local community, contribute to a cause you care about and meet like-minded people.
To find out more about volunteering with the City, visit wanneroo.wa.gov.au/volunteers.
New Zealand’s road freight industry is painting a gloomy picture for business, with only a minority expecting their financial situation to improve over the coming year.
The results are contained in the 2025 National Road Freight Industry Survey, a major survey of 194 respondents across 128 road freight businesses, conducted in March this year by Research NZ on behalf of advocacy group Transporting New Zealand.
The survey was also promoted by the New Zealand Heavy Haulage Association and Groundspread NZ and represents the most extensive industry snapshot in over a decade.
Transporting New Zealand says the survey offers sobering insights into business conditions, the deteriorating road network, and challenges around driver safety and wellbeing.
Only 34 per cent of those surveyed expected their financial situation to improve over the next 12 months, and only one in four respondents reported having sustainable operating margins. Just under half (47 per cent) believed the government was on the right economic track, while 25 per cent disagreed and 27 per cent were unsure.
Transporting New Zealand says the findings echo the concerns it has heard from members and align with wider economic indicators.
“Company liquidations in the transport sector were up by 79 per cent last year, and the ANZ Truckometer Heavy Traffic Index for June 2024 recorded its biggest monthly drop on record, excluding Covid-19 lockdowns.” says Billy Clemens, Transporting New Zealand’s Head of Policy and Advocacy.
“The survey results, combined with the tough economic data, really highlight the need for infrastructure investment from the Government to support growth, as well as resource management reform that helps support new jobs and overseas investment”.
Health, safety, and wellbeing and workforce challenges were also priorities. A total of 78 per cent of respondents called for more purpose-designed rest stops for drivers, and 72 per cent said it was important for drivers to have a good work-life balance.
Finding new drivers was also a big issue. Almost one-half of industry respondents (47 per cent) indicated that “up to 25 per cent” or more would retire or leave the industry in the next five years. This highlighted the ageing workforce.
Concerns about the state of New Zealand’s roads were nearly universal. The vast majority (93 per cent) agreed that poor road maintenance is putting truck drivers and other road users at risk. A significant number (84 per cent), believed that regional roads and bridges are neglected, and that delays in replacing the Cook Strait ferries pose a major risk (79 per cent).
One bright spot in the survey for truck drivers was that while the those in the industry believe the public have a negative perception of professional drivers, that is not the case.
Nearly half of industry respondents (49 per cent) believed the public holds a negative view of professional drivers, while only 20 per cent believed the public viewed them positively.
However, a poll of 1000 New Zealanders conducted by Research NZ painted a more favourable picture, with 52 per cent saying they view professional road freight drivers positively; and only 7 per cent expressing a negative view.
“It’s encouraging to see such widespread public support for truck drivers, and Transporting New Zealand will be highlighting this in our advocacy – especially as we push for better public facilities for drivers and policies that support the long-term sustainability of freight businesses,” says Clemens.
New Zealand Property Report April 2025 – NZ property market bucks the trend of global uncertainty
Respite for Kiwis as property prices remain stable in latest data from realestate.co.nz
Stock up, buyer choice strong, but no sales boom
Is it a buyer’s market or a seller’s market?
Is there ever a right time to buy or sell property? Yes – and it’s now! The latest data from realestate.co.nz shows stock levels are high, and prices are stable, giving buyers and sellers the advantage of time.
Sarah Wood, CEO of realestate.co.nz, says that while global uncertainty persists, New Zealand’s property market remains remarkably steady, giving buyers and sellers a rare advantage in an otherwise uncertain environment:
“We’re in something of a holding pen at present. With global economic turmoil, US tariffs, and employment uncertainty, New Zealand is a bit stuck as we wait to see how these pressures play out.”
“But there’s a silver lining: today’s well-stocked and stable property market offers buyers and sellers time, choice, and flexibility. A fast market is stressful for buyers and sellers; a slower, stable market brings real positives. If you want to have certainty around your buying and selling price, now’s a great time to make your move.”
Respite for Kiwis as prices remain stable
While the financial markets are volatile, the national average asking price has held steady. In April 2025, the national average asking price dipped 1.7% year-on-year to $852,364 — still well within the narrow range of roughly $850,000 to $890,000 that has defined the past two years.
“It’s been more than two years since the national average asking price was above $900,000. Over that time, prices have fluctuated by less than 6.0% within a tight $50,000 band. We are in a period of rare stability,” says Wood.
Despite the stability, pockets of the country reported year-on-year average asking price growth during April. Most significant were Gisborne (up 17% to $724,168), Central North Island (up 12.6% to $779,099), Wairarapa (up 8.5% to $733,735), and Hawke’s Bay (up 8.1% to $778,039).
High stock levels give buyers more choice
National stock was up 6.2% year-on-year in April 2025, continuing a trend of elevated listings across the country.
“There’s plenty of stock available, but we’re not seeing a boom in sales activity to move it through yet,” says Wood.
Sales data from the Real Estate Institute of New Zealand (REINZ) shows steady movement but not at peak historical levels. Across the first quarter of 2025, residential sales increased month-on-month, from 3,774 in January, to 6,287 in February, and 7,640 in March.
Vendors cool their jets as the weather turns
The change in seasons and the arrival of shorter days saw new listings fall, down 29.2% from 12,029 in March to 8,518 in April. Wood says it’s typical to see a seasonal dip in new listings at this time of year but notes that new listings were also lower compared to April 2024.
“New listings were down 11.6% compared to last year, but there is still strong interest across the market. We’re seeing the highest level of enquiries from buyers in three years. That’s a positive sign.”
Some of the biggest year-on-year lifts in stock were seen in Gisborne (up 75.0% — though actual listing numbers remain small, rising from just 82 to 144 properties), Central Otago / Lakes District (up 28.2%), West Coast (up 28.0%), Otago (up 22.4%), Central North Island (up 19.6%), Canterbury (up 14.5%), Marlborough (up 11.0%), Wellington (up 10.8%), and Coromandel (up 10.3%).
So, is it a buyer’s or a seller’s market?
In today’s slower but stable market, both buyers and sellers have real opportunities.
For buyers, the current climate offers time to act carefully rather than under pressure. Wood encourages buyers to take full advantage of this breathing room.
“My advice? Visit 50 properties before you buy. You need to know the market, know what’s selling, and know what buyers are paying — and right now, you have the time to do exactly that,” she says.
“This market also allows buyers to negotiate terms, like longer settlement periods, and complete thorough due diligence before making decisions.”
Wood adds that buyers today have access to more data than ever before: “Our insights page gives real-time suburb trends and recent sales information, which simply wasn’t available five years ago.”
Sellers, too, can benefit from stability. Well-priced properties are still moving, and many vendors will soon become buyers themselves.
“If you accept a slightly lower sale price than your original expectations, you’re also better positioned to negotiate sharply when you purchase your next property. It’s a two-sided opportunity,” says Wood.
We’ve been helping people buy, sell, or rent property since 1996. Established before Google, realestate.co.nz is New Zealand’s longest-standing property website and the official website of the real estate industry.
Dedicated only to property, our mission is to empower people with a property search tool they can use to find the life they want to live. With residential, lifestyle, rural and commercial property listings, realestate.co.nz is the place to start for those looking to buy or sell property.
Whatever life you’re searching for, it all starts here.
Want more property insights?
Market insights:Search by suburb to see median sale prices, popular property types and trends over time.
Sold properties:Switch your search to sold to see the last 12 months of sales and prices.
Valuations:Get a gauge on property prices by browsing sold residential properties, with the latest sale prices and an estimated value in the current market.
Glossary of terms:
Average asking price (AAP) is neither a valuation nor the sale price. It is an indication of current market sentiment. Statistically, asking prices tend to correlate closely with the sales prices recorded in future months when those properties are sold. As it looks at different data, average asking prices may differ from recorded sales data released simultaneously.
New listings are a record of all the new residential dwellings listed for sale on realestate.co.nz for the relevant calendar month. The site reflects 97% of all properties listed through licensed real estate agents and major developers in New Zealand. This description gives a representative view of the New Zealand property market.
Stock is the total number of residential dwellings that are for sale on realestate.co.nz on the penultimate day of the month.
Rate of sale is a measure of how long it would take, theoretically, to sell the current stock at current average rates of sale if no new properties were to be listed for sale. It provides a measure of the rate of turnover in the market.
Seasonal adjustment is a method realestate.co.nz uses to represent better the core underlying trend of the property market in New Zealand. This is done using methodology from the New Zealand Institute of Economic Research.
Truncated mean is the method realestate.co.nz uses to supply statistically relevant asking prices. The top and bottom 10% of listings in each area are removed before the average is calculated to prevent exceptional listings from providing false impressions.
Property values in Aotearoa New Zealand rose by +0.3% in April, continuing the string of modest gains since the start of the year.
April’s rise on the Cotality hedonic Home Value Index (HVI) took values to $819,096, the highest since June last year ($822,175), but still down by about -16% from the January 2022 peak of $974,045.
Around the main centres, April was a stronger month for most, with Kirikiriroa Hamilton up by +0.8%, Ōtautahi Christchurch by +0.5%, and Tāmaki Makaurau Auckland rising +0.3%. Ōtepoti Dunedin, Te Whanganui-a-Tara Wellington, and Tauranga each saw a mild lift of +0.1% in April.
The hedonic methodology also allows for an analysis by property type, which shows the turning point is now evident for more segments too. Flats (townhouses) have risen by +0.9% nationally since January, standalone houses by +1.0%, and lifestyle properties by a more minor +0.2%.
Cotality NZ (formerly CoreLogic NZ) Chief Property Economist Kelvin Davidson said that the fourth consecutive rise in property values confirms the upturn is unfolding as expected, though a degree of caution remains warranted.
“Clearly, lower mortgage rates have been a strong support for property values in recent months, giving more buyers the confidence and ability to enter the market. Perhaps in a slightly perverse way, the recent global uncertainty about tariffs and trade protectionism could also see interest rates fall further.”
“That said, a fresh boom in property values seems unlikely. For a start, the stock of listings on the market remains high, giving buyers plenty of power when it comes to price negotiations.”
“Meanwhile, as interest rates for internal serviceability tests at the banks fall to less than 7%, the caps on debt-to-income ratios (DTIs) for mortgage lending are reportedly becoming a bigger consideration for more borrowers.”
“It’s also worth keeping in mind we had a ‘mini upturn’ in values over the second half of 2023 and first few months of 2024 which then partially reversed out again. This latest emerging phase of growth seems to have stronger fundamentals than the previous one, but even so, a subdued economic backdrop still looms as a restraint.”
National and Main Centres
Month
Quarter
Annual
From peak
Median value
Aotearoa New Zealand
0.3%
0.9%
-2.0%
-15.9%
$819,096
Tāmaki Makaurau Auckland
0.3%
0.9%
-3.1%
-20.7%
$1,081,729
Kirikiriroa Hamilton
0.8%
2.1%
1.1%
-10.0%
$756,686
Tauranga
0.1%
-0.4%
-1.8%
-16.4%
$904,602
Te-Whanganui-a-Tara Wellington
0.1%
0.7%
-5.8%
-23.5%
$811,829
Ōtautahi Christchurch
0.5%
2.1%
1.9%
-4.4%
$678,745
Ōtepoti Dunedin
0.1%
-0.1%
-0.3%
-10.1%
$604,664
Tāmaki Makaurau Auckland
Month
Quarter
Annual
From peak
Median value
Rodney
0.3%
-0.6%
-5.2%
-21.1%
$1,226,785
North Shore
0.4%
1.0%
-0.5%
-16.5%
$1,313,091
Waitakere
0.3%
0.7%
-2.3%
-22.8%
$938,747
Auckland City
0.3%
1.2%
-4.2%
-21.0%
$1,162,488
Manukau
0.0%
1.2%
-3.0%
-21.9%
$1,020,445
Papakura
-0.1%
0.2%
-3.3%
-22.0%
$843,503
Franklin
0.3%
1.1%
-1.3%
-20.5%
$926,141
April was generally a month of increases for the various sub-markets across Tāmaki Makaurau, although there were some exceptions. Consistent increases of +0.3% to +0.4% were seen in North Shore, Rodney, Waitakere, Auckland City, and Franklin. Manukau was flat and Papakura edged down by -0.1%.
Clearer signs of growth are also evident across a broader three-month horizon, with North Shore, Franklin, Manukau, and Auckland City all up by at least +1.0% since January. Rodney is lagging a little, however, down by -0.6%.
Mr Davidson said, “In any part of the cycle there are different areas that either underperform or outperform, and with buyers still holding the bulk of negotiating power, it’s not all one-way traffic for property values in Auckland. However, the impact of lower mortgage rates does seem to be spreading across the super-city.”
Te Whanganui-a-Tara Wellington
Month
Quarter
Annual
From peak
Median value
Kāpiti Coast
1.4%
1.7%
-2.5%
-18.5%
$833,629
Porirua
0.0%
0.2%
-3.8%
-22.3%
$785,714
Upper Hutt
0.1%
-0.5%
-5.6%
-23.6%
$703,101
Lower Hutt
0.4%
1.1%
-5.5%
-24.3%
$696,764
Wellington City
0.0%
0.9%
-6.4%
-23.4%
$910,452
Across the wider Te Whanganui-a-Tara Wellington area, Kapiti Coast stood out with a +1.4% rise in values in April, while Lower Hutt also recorded a reasonable gain of +0.4%. However, Upper Hutt only edged up by +0.1%, and Porirua and Wellington City itself were stable.
Kapiti Coast has also shown relative strength over a broader three-month period (+1.7% since January), with Lower Hutt also up by 1.1% in the quarter. Porirua and Upper Hutt have been a little more subdued since January.
“The large falls in property values around the Wellington area in recent years seem to have come to an end, and significantly improved affordability may be piquing the interest of more buyers. But as with many other parts of the country, available listings remain high, so buyers aren’t in a rush to compete or bid up prices sharply,” said Mr Davidson.
Regional results
The emerging upturn in property values can be seen across many of the key provincial markets. Whangarei, Rotorua, and Napier each rose by at least +0.5% in April, with Whanganui and Invercargill both at +0.4%. But Nelson dropped by -0.5%, Hastings was down by -0.6%, and Queenstown -1.0%.
“In the current environment where listings are higher than normal in many parts of the country and some sectors of the economy are yet to rebound, a bit of variability across the provinces is to be expected. But lower interest rates are a significant support, so the outlook for a modest recovery in values this year is likely to be replicated across regional markets too,” added Mr Davidson.
Other Main Urban Areas
Month
Quarter
Annual
From peak
Median value
Ahuriri Napier
0.5%
2.1%
-0.3%
-17.0%
$714,079
Te Papaioea Palmerston North
0.1%
-0.5%
-2.7%
-18.5%
$606,647
Heretaunga Hastings
-0.6%
-0.5%
-2.3%
-18.6%
$725,007
Whangārei
0.7%
1.7%
-0.9%
-16.8%
$748,308
Whanganui
0.4%
1.0%
0.8%
-11.9%
$494,838
Rotorua
0.5%
1.0%
2.1%
-10.9%
$627,344
Tūranganui-a-Kiwa Gisborne
-0.2%
1.3%
-4.7%
-17.3%
$583,194
Whakatū Nelson
-0.5%
-1.1%
1.1%
-11.9%
$736,003
Ngāmotu New Plymouth
0.1%
0.6%
0.9%
–
$711,699
Waihōpai Invercargill
0.4%
1.2%
2.4%
-0.9%
$473,967
Tāhuna Queenstown
-1.0%
-1.5%
1.3%
-5.2%
$1,658,111
Property market outlook
Looking ahead, Mr Davidson noted that property values nationally remain on track for a rise of around 5% in 2025, a figure broadly consistent with the recent pace of growth (i.e. just short of 1% in the three months since January).
“That rate of increase looks relatively modest by past standards and given that we’re still about 16% below the record highs from early 2022. Some people may well be disappointed with such an outlook.”
“But it’s always worth noting there are two sides to the housing market coin, and any aspiring first home buyers, or investors, who are progressing towards saving a deposit will no doubt be pleased with a flatter patch for values.”
“Of course, there’s now quite a range of lending hurdles which also need to be negotiated, and it’s going to be fascinating to see how the impact of DTIs plays out over the next year or two”, he concluded.
The Cotality Hedonic Home Value Index (HVI) is calculated using a hedonic regression methodology that addresses the issue of compositional bias associated with median price and other measures. In simple terms, the index is calculated using recent sales data combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and geographical context of the dwelling.
By separating each property into its various formational and locational attributes, observed sales values for each property can be distinguished between those attributed to the property’s attributes and those resulting from changes in the underlying residential property market.
Additionally, by understanding the value associated with each attribute of a given property, this methodology can be used to estimate the value of dwellings with known characteristics for which there is no recent sales price by observing the characteristics and sales prices of other dwellings which have recently transacted. It then follows that changes in the market value of the entire residential property stock can be accurately tracked through time.
1 May 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has today published its response to submissions on three of the four core standards that set the prudential requirements deposit takers will need to meet in order to be licensed under the Deposit Takers Act 2023 (DTA).
Jess Rowe, Director Prudential Policy, says the response covers liquidity, disclosure, and Depositor Compensation Scheme (DCS) related requirements.
“The DTA standards give us a significant opportunity to create a coherent, modern and proportionate prudential framework,” Ms Rowe says.
“The three core standards covered in this release ensure deposit takers can manage their liquidity, provide timely prudential disclosures to the market, and meet data and disclosure requirements for the DCS.”
Public consultation on the proposed core standards generated 26 submissions from banks, non-bank deposit takers and industry groups.
“In response to comprehensive submissions and engagement from industry, we’re making changes to further support a proportionate approach, reduce compliance costs, and improve regulatory efficiency,” says Ms Rowe.
“This shows our focus remains on ensuring prudent management of risk, in a manner that also supports an efficient, competitive and inclusive financial system.”
Read the response document
Response to capital standard to be published later
A fourth standard, the capital standard, was also included in the core standard consultation. This standard generated a significant number of submissions. To ensure we address these submissions, and the matters raised at the Finance and Expenditure Committee inquiry into banking competition, we have announced a more comprehensive review of key aspects of our deposit takers capital settings. The response to submissions on this standard will, therefore, not be published at this time.
Deposit Takers Act background
The Deposit Takers Act 2023 (DTA) modernises our regulatory framework to help ensure the safety and soundness of deposit takers and support a stable financial system that New Zealanders can trust.
Once the DTA is fully in force (expected to be in 2028), the Reserve Bank will begin regulating and supervising credit unions, building societies and finance companies (known as non-bank deposit takers or NBDTs), together with banks, under a single, consistent, and proportionate framework.
The Act also introduces a new Depositor Compensation Scheme (DCS), effective from 1 July 2025.
The Reserve Bank ran a consultation on the four core standards from May to July 2024 and on the nine non-core standards from August to November 2024.
1 May 2025 – The fall in New Zealand’s natural interest rate has been driven mainly by declining labour productivity growth and a lower natural interest rate globally, a Reserve Bank of New Zealand Discussion Paper finds.
Pushing in the other direction, high population growth and increasing labour force participation among older households have kept the natural interest rate higher than otherwise.
This ‘natural rate of interest’ is closely related to the ‘neutral rate of interest’ and is an important benchmark for monetary policymakers when considering the level of the Official Cash Rate.
The decline in the natural interest rate among advanced economies has been widely studied. New research from the RBNZ explores the factors that have contributed to this decline in New Zealand over time.
To better understand the natural interest rate, the authors build a model capturing how households’ savings decisions change over their lifetimes. The model also accounts for the impact of changes in New Zealand demographics and government debt levels, as well as global trends.
A key driver of the decline in New Zealand’s natural interest rate is labour productivity growth, which fell in New Zealand after the Global Financial Crisis.
As captured in the model, people tend to save more as productivity growth falls, because they don’t expect incomes to rise as much in future. In turn, more savings in New Zealand flow through to a lower natural interest rate.
The natural interest rate across many advanced economies has fallen in recent decades, with the world natural rate falling about 1.5 percentage points in the post-GFC period. With New Zealand integrated into global financial markets, this lower world natural interest rate has flowed through into a lower natural interest rate in New Zealand.
The impact of these drivers has been partially offset by higher population growth and increasing labour force participation among older households. This is because households who expect to work for longer tend to save less for retirement. Higher population growth means more younger households in the population, who tend to save less than older households. Lower domestic savings means a higher natural rate of interest.
Understanding the drivers of changes in the natural interest rate is important for central banks and helps inform expectations on where the natural rate will move in future.
“If the natural and neutral rates of interest remain low, this would suggest an ongoing need for alternative monetary policy tools when encountering the effective lower bound (close to zero interest rates) on central bank policy rates,” the authors say.
The model developed in this research has a wide range of potential extensions which future work may explore. These extensions could include modelling different types of households in more detail or introducing a risk premium between the return to safe and risky assets.
Authors: Robert Kirkby, Trent Lockyer, Andrew Coleman
Definition of natural rate of interest: The long-run return to capital. The level of the natural rate of interest reflects the underlying balance between the amount of savings (from households or overseas investors) and demand for capital (from businesses and the government). Definition of neutral interest rate: The nominal neutral interest rate is the level of the Official Cash Rate consistent with inflation being sustainably at target and the economy running at its potential output. When the OCR is above neutral, monetary policy restrains demand and inflation pressures. Below neutral, it is stimulatory. The level of neutral interest rates shapes expectations of where the OCR is likely to settle in the long run, in the absence of future shocks. RBNZ’s Additional Monetary Policy toolkit: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=562a64b2ba&e=f3c68946f8
Australian reality TV debuted in 2006 with Bondi Rescue. The show featured a winning formula of sun, surf, heroes and danger. It sparked many similar programs featuring police, helicopter crews and paramedics.
Paramedics (2018–), as the title suggests, follows Australian paramedics at work, and airs on Nine. Previous seasons focused on staff of Ambulance Victoria and SA Ambulance. The latest season, being filmed now in Perth, follows paramedics of St John Ambulance Western Australia.
Last week, the ABC reported WA Health has issued a directive that filming must end “at the time of entering a hospital ramp” and no filming is to happen at hospitals.
They also stipulate “vision that is used to negatively portray the WA Health system, including but not limited to perceived capacity constraints, is not permitted to be used”.
This move drew criticism from WA Shadow Health Minister, Libby Mettam, and WA president of the Australian Medical Association, Michael Page, who claimed it amounts to censorship of healthcare delivery issues, in particular issues of “ramping” – ambulances waiting outside emergency departments until space becomes available.
I created and directed the reality series Chopper Rescue (2009–11) for ABC, following real rescue helicopter crews saving lives in regional and remote north Queensland. Here’s what to consider when it comes to obtaining permissions to record factual television shows like these.
Sharing stories
These shows occupy a complex position between service provision and entertainment, creating inherent conflicts of interest.
I developed the concept for Chopper Rescue from dual perspectives: as a filmmaker and as an experienced PICU (paediatric intensive care unit) nurse who had participated in many retrievals.
I wanted to share stories of the incredible rescue crews: unassuming individuals undertaking extensive training, available 24/7. They might just happen to be the person sitting on the train opposite you travelling home after an all night saga.
I wanted audiences to appreciate how lucky we are to have such services.
From my first experience retrieving a child from a small regional clinic in the middle of the night, I was struck by the human drama and visual spectacle. Flying low at dawn over a sleeping city and safely delivering a sick child to expert care adhered to a perfect narrative structure.
The success of shows like Chopper Rescue and Paramedics depends on the willingness of professionals to share their knowledge, and of those being rescued agreeing to have their stories aired. The most successful shows are a partnership, where those in front of the camera are able to exercise some agency in how they are represented on screen.
By the time viewers see such content, multiple layers of permission have been negotiated.
Seeking consent
The most complex negotiation is the access agreements with organisations who have jurisdiction over the entities involved. For Paramedics, agreements would have been negotiated with St John’s Ambulance and WA Health.
Such agreements always include conditions to protect individuals and professional reputations.
Production companies must obtain signed consent from everyone identifiable onscreen. This is a complicated process when filming in emergency departments where multiple personnel might be attending to critically unwell patients.
Production release forms typically assign worldwide rights to use recordings, while indemnifying the company against claims. Individuals can request variations, such as viewing content before release, but this requires understanding this option exists. Ethical documentary practice would explore individuals’ options at the time of signing the release.
If someone doesn’t consent, their face is typically blurred. This highlights the tension between legal and ethical practice: blurring of identity meets legal requirements, but overlooks an individual’s choice not to participate.
Then there is the case of organisational access agreements. Post production facilities are intense spaces where editors, directors and producers make decisions about episodes, creating perfect cuts and dramatic effects. What’s often missing in the edit suite is professional knowledge to determine whether a scene, while being dramatically successful, might contain actions by a professional that could be viewed critically by peers.
There is little scope for the acknowledgement of human error once a show is aired, but human error occurs – particularly in high stakes situations.
Access agreements and filming protocols ensure edited content is reviewed by those familiar with the setting. In the case of the new season of Paramedics, this responsibility will fall to WA Health.
Is this censorship? Yes. Is it necessary? I would say yes, given these shows offer entertainment, not expository documentaries.
Our human vulnerability
There is another hidden risk for those being rescued: the presence of cameras capturing professionals at work.
Awareness that millions might be watching on can potentially distract paramedics, doctors and pilots – with potentially disastrous consequences.
And what about patients’ rights to receive assistance without the presence of microphones and cameras? Can we assume that patients are informed in advance that they may be filmed and have the option to decline? Clear protocols for filming are essential to ensure such patient rights are protected.
As a filmmaker, I recognise the appeal of these shows. Viewers access normally restricted spaces, witnessing emergency calls and human drama. Such moments can be potent, allowing reflection on our human vulnerability. The educational potential is also significant, sharing important information about health conditions and interventions.
It is unclear whether similar restrictions were requested in other states, but there is nothing unusual in WA Health seeking conditions to film in their facilities.
However, to specifically exclude ambulance ramping has potentially left them vulnerable to criticism, rather than requesting general content approval.
Jan Cattoni does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
A growing threat of antimicrobial resistant (AMR) pathogens poses a critical public health threat – and drinking water plumbing systems serve as significant but overlooked reservoirs of these problematic microbes.
Despite international efforts to combat AMR, surveillance has primarily focused on clinical cases, while environmental reservoirs – such as drinking water plumbing systems – remain poorly understood.
A recent study by researchers from Flinders University and other leading institutions revealed alarming findings about bacterial persistence in Australian drinking water plumbing, and identified significant transmission risks in both hospital and residential environments.
“The presence of these antimicrobial resistant bacteria in residential and hospital plumbing systems highlights a pressing public health concern that requires immediate attention,” says Flinders University’s Professor Harriet Whiley.
Published in the Journal of Hospital Infection, the study assessed the prevalence of key AMR threats – being methicillin-resistant Staphylococcus aureus (MRSA), plus carbapenem-resistant Pseudomonas aeruginosa andAcinetobacter baumannii – in hospital and residential drinking water and biofilm samples across Australia.
Key findings showed:
73% of residential water and biofilm samples tested positive for at least one AMR pathogen, compared to 38% of hospital samples. 45% of residential drinking water plumbing fixtures had at least two of the targeted AMR pathogens, highlighting the risks in home environments. Drain biofilms were identified as a major reservoir for AMR bacteria, contributing to their persistence even after disinfection efforts. Carbapenem resistance genes were found in biofilm samples that tested negative for P. aeruginosa, suggesting biofilms may act as long-term reservoirs for AMR genes, which will allow resistance to spread even after the original bacteria have died. MRSA, typically associated with dry, high-touch surfaces such as bed rails and doorknobs, was detected in both water and biofilm samples. This indicates that AMR pathogens that are not traditionally considered waterborne may thrive in plumbing systems.
Antimicrobial resistance is among the most pressing 21st century global health challenges. The World Health Organization (WHO) warns that by 2050, AMR infections could cause 10 million deaths a year, and would therefore surpass cancer as the leading cause of death worldwide.
Resistant infections already lead to prolonged hospital stays, higher medical costs and an increasing reliance on last-resort antibiotics, which are becoming less effective.
“Our research underscores the urgent need for enhanced surveillance and targeted interventions to mitigate the risks posed by AMR pathogens in drinking water systems, especially in home healthcare settings,” said lead researcher Dr Claire Hayward.
This study calls for improved strategies to manage AMR risks in water infrastructure, particularly in environments housing vulnerable populations, such as hospitals and aged care facilities.
Strengthening water system hygiene, routine monitoring, and innovative biofilm control methods could play a crucial role in addressing this growing threat.
The research – “Drinking water plumbing systems are a hot spot for antimicrobial resistant pathogens”, by Claire Hayward, Kirstin Ross, Melissa Brown, Richard Bentham, Jason Hinds and Harriet Whiley – has been published in the Journal of Hospital Infection. For access to the full study, visit: https://www.sciencedirect.com/science/article/pii/S0195670125000593
Funding statement: This work was supported by the Impact Seed Funding for Early Career Researcher and Flinders Foundation grant 2021.
Source: United States Senator for Illinois Tammy Duckworth
April 30, 2025
[WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL) and U.S. Senate Democratic Whip Dick Durbin (D-IL) joined U.S. Senators Elizabeth Warren (D-MA), Ron Wyden (D-OR), Chuck Schumer (D-NY) and Kirsten Gillibrand (D-NY) in a coalition of over 100 Congressional Democrats in writing to Acting Commissioner of the Social Security Administration (SSA) Leland Dudek to demand that he keep Social Security field offices open. This letter comes after multiple reports revealed that Elon Musk’s Department of Government Efficiency (DOGE) directed SSA to close field offices across the country—only to reverse course after public backlash and deny the plans altogether. Given the lack of transparency surrounding the status of field offices nationwide, the lawmakers pressed Dudek to ensure that DOGE does not close the offices that so many Social Security beneficiaries rely on for services and assistance.
“[B]eneficiaries need the opportunity to seek assistance from SSA in person…Closing any of these field offices will make it harder for individuals to access their benefits,” wrote the lawmakers.
Last Thursday, Social Security Works, Indivisible, P Street and AFGE organized volunteers to deliver copies of the lawmakers’ letter to field offices across the country—in blue, red, and purple counties—in support of the field offices and their staff. Volunteers plan to visit at least 50 offices in Arizona, Nebraska, California, New Jersey, Colorado, Nevada, Florida, New York, Georgia, Ohio, Illinois, Oregon, Indiana, Tennessee, Kentucky, Virginia, Massachusetts, Vermont, Maryland, Washington, Michigan, Wisconsin and North Carolina.
Along with Duckworth, Durbin, Warren, Wyden, Schumer and Gillibrand, the letter is also co-signed by U.S. Senators Angela Alsobrooks (D-MD), Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Cory Booker (D-NJ), Maria Cantwell (D-WA), Chris Coons (D-DE), John Fetterman (D-PA), Ruben Gallego (D-AZ), Maggie Hassan (D-NH) Martin Heinrich (D-NM), Mazie Hirono (D-HI), Chris Van Hollen (D-MD), Tim Kaine (D-VA), Mark Kelly (D-AZ), Andy Kim (D-NJ), Angus King (I-ME), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Edward J. Markey (D-MA), Jeff Merkley (D-OR), Chris Murphy (D-CT), Patty Murray (D-WA), Alex Padilla (D-CA), Jack Reed (D-RI), Lisa Blunt Rochester (D-DE), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Jeanne Shaheen (D-NH), Elissa Slotkin (D-MI), Tina Smith (D-MN), Mark Warner (D-VA), Raphael Warnock (D-GA), Peter Welch (D-VT) and Sheldon Whitehouse (D-RI).
Full text of the letter is available on Senator Duckworth’s website.
Ministers from APEC economies gathered in Busan, Republic of Korea, today for the 5th APEC Ocean-Related Ministerial Meeting, reaffirming their collective commitment to addressing the critical challenges facing the ocean and marine resources in the Asia-Pacific region. The meeting marks the resumption of high-level ocean dialogue within APEC after a decade-long gap.
In his opening remarks, Korea’s Minister of Oceans and Fisheries, Kang Do-Hyung, emphasized the importance of the ocean as an essential resource for all APEC economies and its critical role in the economic development of the region.
“The ocean serves as a foundation of life that embraces us all, and it stands as a key resource for our shared future,” said Minister Kang. “Over the millennia, it has underpinned the delicate balance between economic development and environmental sustainability.”
However, Minister Kang added that the ocean is currently facing a range of serious challenges.
“The rising sea temperatures and sea levels, the depletion of fishery resources, and the growing issue of marine debris are threatening not only marine ecosystems but also the sustainability of fisheries, aquaculture, and marine tourism—resulting in significant economic and social costs,” Minister Kang added.
But Minister Kang also shared encouraging facts that even in the face of these crises, the international community continues to make tireless efforts to protect the ocean and ensure a sustainable future.
“The recently adopted BBNJ Agreement has become a historic milestone in preserving marine ecosystems in areas outside the jurisdiction of any economy,” Minister Kang stated, referring to the 2023 agreement under the United Nations Convention of the Law of the Sea. “The international community has set a clear goal of securing ratification by at least 60 economies by June this year and is working together toward that target.”
Minister Kang also highlighted other international efforts, such as the WTO Agreement on Fisheries Subsidies, which is recognized for laying the foundation for a more sustainable fisheries sector by limiting harmful subsidies that contribute to overfishing and IUU fishing.
“APEC, through the Ocean and Fisheries Working Group, has steadily strengthened regional efforts to address a wide range of ocean issues, including combating IUU fishing and reducing marine debris to promote sustainable development in the ocean and fisheries sectors,” Minister Kang added.
APEC has developed strategic roadmaps to address critical ocean issues, including marine debris, illegal, unreported, and unregulated (IUU) fishing, as well as small-scale fisheries and aquaculture.
The APEC Roadmap on Marine Debris, endorsed in 2019, emphasizes voluntary and cooperative actions among member economies to reduce marine debris, particularly plastic litter, through policy development, capacity building and sustainable waste management practices.
Similarly, the APEC Roadmap on Combatting IUU Fishing outlines collaborative strategies to prevent and eliminate IUU fishing activities. This includes the development and implementation of economy-wide plans of actions, capacity building and the adoption of port state measures to strengthen enforcement and compliance across the region.
In 2022, APEC also adopted the Roadmap on Small-Scale Fisheries and Aquaculture, aimed at promoting the sustainable development of small-scale fisheries and aquaculture sectors. This roadmap focuses on enhancing the livelihoods of small-scale fishers and aquaculture producers through improved market access, capacity-building, and the promotion of responsible and sustainable practices.
These roadmaps serve as frameworks for APEC economies to align their efforts and implement effective measures to protect marine ecosystems and ensure the sustainable use of ocean resources.
“These multifaceted efforts highlight the complexity and severity of the challenges we face. At the same time, they offer hope that even the most difficult ocean-related issues can be addressed through cooperation and innovation,” he continued.
“In this moment where crisis and hope coexist, we have gathered here today to respond collectively to the challenges facing our oceans and to chart a course toward a sustainable future. I sincerely hope that today’s discussions will not remain as mere documents or declarations but will be translated into concrete actions and policies by all APEC member economies,” Minister Kang concluded.
Source: United States Senator for Virginia Tim Kaine
WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA), Ranking Member of the Senate Armed Services Subcommittee on Seapower, released the following statement after the Department of the Navy awarded a contract to Huntington Ingalls Industries’ Newport News Shipbuilding to start construction on two Virginia-class submarines, which Kaine successfully pushed to get additional funding for last year:
“I’m thrilled the Navy has awarded two additional Virginia-class submarines to Newport News Shipbuilding. This is a testament to the hard work and leadership of Virginia’s shipbuilders and defense industry. I was proud to secure funding for these submarines in legislation we passed last year. This funding is critical to ensuring the Navy has the resources it needs to provide competitive wages for shipbuilders and advance the AUKUS agreement that will help ensure a free and open Indo-Pacific. I look forward to continuing to work with my colleagues in Congress to get our shipbuilding programs back on track.”
Kaine has played a key role in securing more resources for the submarine industrial base, including additional funding for the Virginia-class submarine program that is currently facing significant delays because of workforce challenges and supply chain disruptions. The on-time completion of Virginia-class submarines, which are built in Virginia and Connecticut, is critical to fulfill the Australia-U.K.-U.S. (AUKUS) partnership, through which the U.S. will sell at least two Virginia-class submarines to Australia to boost security and freedom of navigation in the Indo-Pacific, and counter Chinese military aggression in the region. Kaine has been a strong champion of AUKUS in Congress and has helped get signed into law provisions to implement and strengthen AUKUS.
At the last federal election, the then opposition leader Anthony Albanese pledged to “change the way politics operates in this country”. Integrity was a key issue in 2022, and Australians voted for a change of government and a wave of independents who championed anti-corruption reforms.
Labor’s election commitments included a federal corruption commission “with teeth” and the powers to hold public hearings. The new government was subsequently held to account by crossbenchers who were elected on platforms of integrity and honesty in politics.
Three years on, how much progress has been made on those promised changes?
Australia has made significant headway on some of these fronts, while others are still in progress or have stalled. Whoever forms government after Saturday will need to stay the course on many of these reforms and lift its game on others.
However, compromises were made on the promised model, most notably that the Commission only has the power to hold public hearings in “exceptional circumstances”.
The NACC has been fairly quiet in its first two years in operation – not surprising given the time it takes to establish itself and wade through a mountain of potential investigations.
But it did raise its head above the parapet with a decision not to investigate the Robodebt royal commission referrals, which drew so many complaints the decision was independently reviewed, and subsequently reversed.
It is too soon to assess the success of the NACC, but we have seen some improvement in Australia’s Corruption Perceptions Index in recent years, which is at least partly attributed to its establishment.
Other progress
The Albanese government has also made progress on reducing vested-interest influence in our politics. Under the Electoral Reform Bill passed in February this year, Australians will now get better and more timely information on political donations. The new caps on electoral expenditure put a ceiling on the fundraising “arms race”.
These are important steps forward. But the bill also takes a step back. It favours incumbents, which will make it harder for new entrants to contest elections. The changes don’t come into effect until July 1 next year, so there is still time for the next parliament to amend the rules.
Finally, progress was made on appointments to the Administrative Appeals Tribunal, which Labor claim had become highly politicised by the Morrison government.
On the eve of the 2025 election, Australia’s institutions are generally strong, outperforming many of our international peers.
But we cannot afford to be complacent. The global context is increasingly alarming, with the international rules-based order under siege. Democracy is more fragile than ever.
Australians generally trust that government will protect lives in an emergency, and that it takes decisions based on evidence. But they are more sceptical when it comes to corporate influence in politics, and misuse of public office for personal or political gain.
5 priorities for action
There are several things the next government can do to maintain trust and confidence in our institutions.
The first is to stay the course on the NACC as it builds trust with the Australian people. This will take time, and increased public engagement, particularly through its corruption prevention outreach.
Second, amending the recent electoral reforms would level the playing field for new candidates. The total cap of $90 million for electoral expenditure by a political party is too high. And the per-seat cap of $800,000 is too low, advantaging incumbents over new entrants, who typically need to spend more to
introduce themselves to their electorates.
There are also loopholes in the legislation that benefit the major parties by allowing the donations cap and disclosure threshold to apply separately to each branch of a party.
Third, it would be timely to take a closer look at government advertising. Parliament should tighten the rules to ensure that taxpayer-funded advertising can’t be used to spruik the government of the day.
Fourth, the government has the opportunity to build on the abolition of the Administrative Appeals Tribunal, by extending best-practice processes to all public appointments. And it should make public grants processes more open and competitive.
These reforms would support confidence in our institutions, ensure taxpayers get better value for money, and reduce opportunities for “jobs for mates” and “pork-barrelling”, which are particularly corrosive to public trust.
Finally, the government can do more to reduce vested-interest influence in politics. Ministerial diaries should be published to improve transparency of lobbying activity.
Gambling is one example of a powerful industry swaying policy in its favour. Consumer protections to prevent gambling harm are weak, despite the compelling case for reform. Government should be taking action in the public interest.
Collectively, these reforms would have very little budgetary impact. But they could substantially improve confidence in our policy-making institutions, which should be a clear priority for whoever forms government after Saturday.
The Grattan Institute began with contributions to its endowment of $15 million from each of the Federal and Victorian Governments, $4 million from BHP Billiton, and $1 million from NAB. In order to safeguard its independence, Grattan Institute’s board controls this endowment. The funds are invested and contribute to funding Grattan Institute’s activities. Grattan Institute also receives funding from corporates, foundations, and individuals to support its general activities as disclosed on its website.
Source: The Conversation (Au and NZ) – By John Cairney, Professor and Head of Human Movement and Nutrition Sciences; Director, The Queensland Centre for Olympic and Paralympic Studies, The University of Queensland
Not so long ago, life was pretty simple for sports leagues and teams when it came to connecting with fans: the contests and athletes were the stars of the show, with the on-field action covered and celebrated by sports media accordingly.
Things are rapidly changing.
Sport used to primarily be about performance, competition and entertainment. Now, sport and the athletes who play it are often dynamic media platforms.
This paradigm shift is being driven by the convergence of artificial intelligence (AI), data mining, immersive technology and the creator economy. Each exposes anomalies in the old model and demands a new framework for how sport is consumed, valued and organised.
In today’s modern sporting landscape, many leagues, teams and even mega-events are fully functioning media companies.
Athletes are both product and producer.
They not only generate performance-based content (highlights, stats) but also personal narratives, political positions, or cultural influence.
They are creators and media entities in the full sense — with their own brands, platforms and followers.
Professional leagues and events must reckon with the power shift these actions imply.
There is extraordinary opportunity in leveraging athletes’ identities for deeper fan engagement. But there is also caution: narratives may not always align with league and team/owner agendas.
Consider some recent examples.
Former No. 1-ranked women’s tennis player Naomi Osaka used her platforms to create a brand that spans fashion, media and activism.
Her 2021 withdrawal from the French Open, which she announced on her own terms on social media, stemmed from her decision to skip post-match press conferences to protect her mental health.
Osaka’s move highlighted both the opportunity created by authentic, athlete-driven engagement and the challenge it posed to traditional tournament control.
Since joining the Dodgers, he has tightly curated his public image, favouring controlled, self-managed media content over traditional press access.
His control over access and messaging means the Dodgers and Major League Baseball can’t fully shape his story.
Ash Barty’s post-retirement career offers a compelling Australian parallel.
Since stepping away from tennis in 2022 while ranked No. 1, Barty has carefully balanced commercial endorsements, a memoir and media appearances.
Like Osaka and Ohtani, Barty’s example speaks to a new form of athlete agency: one where narrative control, emotional transparency and strategic silence all play a role in reshaping sport’s public conversation.
All these cases illustrate a shifting paradigm — where athletes are no longer just performers but powerful media outlets, often with more influence than the familiar institutions they represent.
The influence of AI
This opens important questions around ownership, intellectual property, image rights and the ethical stewardship of public platforms.
It also means if athletes, players and leagues are media companies, monetisation is a function — but not the sole purpose. Successful media ecosystems don’t just sell content, they also build belonging.
This means investing in and influencing community, culture and shared values — not just launching branded apps, paid streaming services, or spin-off content that extend the brand.
AI, in this context, becomes a community-builder, not just a recommendation engine. Its ability to support personalised experiences and micro-segmented fan journeys allows for mass intimacy: experiences that feel deeply individual yet can be scaled broadly.
With the help of data and machine learning, leagues and teams can now deliver mass customisation not just of products but of experiences and narratives — tailoring highlight reels, merchandise, content and even storylines for each fan. This shift enables a deeper, more emotional form of engagement.
The National Basketball Association (NBA)’s upgraded app and NBA ID platform bring this to life, using Microsoft Azure AI to serve fans personalised highlight reels, real-time stat overlays and exclusive content based on their favourite teams and players.
These “fan journeys of one” show how leagues can turn data into connection — building not just audiences but communities, powered by AI.
As to what the future may hold, some key questions in this space are:
How does AI reshape the power dynamics between leagues, athletes and fans?
What new business models will emerge when the fan is also a co-creator?
Can AI be used to foster social good through sport, not just drive engagement metrics?
This ongoing tension between “brand-dom” (controlled or innovative messaging) and “fandom” (grassroots, emotionally driven engagement) will continue to evolve as technology also evolves.
Sport’s future won’t just be something we watch — it will be shaped by fans, athletes and technology working together, and it will keep changing faster than ever.
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Source: United States Senator for New Mexico Martin Heinrich
Legislation builds on Heinrich’s work to increase criminal penalties for straw purchases and stop illegal gun trafficking out of our country
WASHINGTON — U.S. Senator Martin Heinrich (D-N.M.), a member of the core bipartisan group of senators who negotiated and passed the Bipartisan Safer Communities Act (BSCA), co-sponsored the Preventing Illegal Weapons Trafficking Act, legislation to protect communities from gun violence by requiring federal law enforcement to coordinate efforts to prevent the importation and trafficking of machinegun conversion devices including ‘auto-sears’ — illegal gun modification devices that can convert semi-automatic weapons into fully-automatic weapons — and seize all profits that come from the illegal trafficking of these devices.
“I’m proud that the provisions I wrote in the Bipartisan Safer Communities Act have already led to hundreds of arrests and kept firearms out of the hands of dangerous criminals. But with at least 91 mass shooting in the United States already this year, it’s clear we have more work to do,” said Heinrich. I’m proud to co-sponsor the Preventing Illegal Weapons Trafficking Act, which will help law enforcement keep New Mexicans safe from gun violence by providing new tools to combat illegal gun trafficking.”
Specifically, the Preventing Illegal Weapons Trafficking Act will:
Direct the U.S. Department of Justice, U.S. Department of Homeland Security, and U.S. Department of the Treasury to develop a coordinated national strategy to prevent or intercept the importation and trafficking of automatic gun conversion devices;
The Preventing Illegal Weapons Trafficking Act is co-sponsored by U.S. Senators Amy Klobuchar (D-Minn.), Richard Blumenthal (D-Conn.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Mazie Hirono (D-Hawaii), Ed Markey (D-Mass.), Alex Padilla (D-Calif.), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).
The legislation is endorsed by GIFFORDS and Brady: United Against Gun Violence.
The text of the bill is here.
Heinrich-Led Gun Trafficking and Straw Purchase Provisions:
Heinrich-led provisions in the Bipartisan Safer Communities Act increased criminal penalties for straw purchasers and made it a crime, for the first time ever, to traffic firearms out of the United States. Straw purchasers are people who buy guns for those who cannot buy them directly themselves due to their age, felony criminal convictions, or other limitations. By increasing penalties for straw purchasing, Heinrich’s provision is helping to keep guns out of the hands of criminals and those who would use them against our communities. By making it illegal to traffic firearms out of the country, Heinrich’s provision gave law enforcement the tools needed to prosecute and disrupt the flow of firearms to Mexico and the Northern Triangle, fueling the violence that has driven so many to flee their home countries.
To date, the Department of Justice has charged more than 600 defendants using BSCA’s gun trafficking and straw purchasing laws, removing hundreds of firearms off the streets in the process. These cases are significant, often preventing and prosecuting highly dangerous activity, such as crimes linked to organized trafficking rings and transnational criminal organizations.
For example, in March 2024, the Justice Department charged several defendants with trafficking and straw purchasing over 100 firearms, including many military-grade weapons, that were allegedly intended to be smuggled to a Mexican drug cartel. In April 2024, a defendant was sentenced to 276 months in prison for firearms trafficking and straw purchasing, as well as distribution of fentanyl, where the evidence showed that two of the trafficked firearms had been used in gang-related shootings. In 2o23, a defendant was sentenced to two years in prison for running an illegal gun trafficking enterprise, repeatedly taking money to lie on firearm purchase forms and obtain weapons for convicted felons.
In New Mexico, the Office of the United States Attorney for the District of New Mexico has charged 11 defendants with BSCA violations.
Heinrich’s Longtime Leadership to Tackle Gun Violence:
A gun owner and father, Heinrich has long worked to advance and pass bipartisan policies that save lives, protect public safety, and reduce gun violence.
This month, Heinrich introduced his Gas-Operated Semi-Automatic Firearms Exclusion (GOSAFE) Act and bipartisan Banning Unlawful Machinegun Parts (BUMP) Act, commonsense legislation designed to protect communities from gun violence, while safeguarding Americans’ constitutional right to own a firearm for legitimate self-defense, hunting, and sporting purposes.
Heinrich recently convened a press conference in Albuquerque with New Mexicans to Prevent Gun Violence, Everytown, community leaders, and students to announce the introduction of his GOSAFE Act. For photos and videos of that event, click here.
In October 2024, Heinrich secured critical funding for New Mexico law enforcement to purchase four new NIBIN machines for Las Cruces, Farmington, Gallup, and Roswell. This allows law enforcement to trace firearms used in crimes and hold criminals accountable, all while saving officers valuable time and resources.
In 2017, Heinrich cosponsored the bipartisan Fix NICS Act, which now requires federal and state authorities to produce background check implementation plans and holds federal agencies accountable for reporting relevant criminal records to the National Instant Criminal Background Check System (NICS). He also led the successful call to repeal the Dickey Amendment, which had previously prevented the Center for Disease Control and Prevention (CDC) from funding research on gun violence and its effects on public health.
A new USGS Data Release provides data associated with the 2020–2021 summit eruption at Kīlauea volcano.
Digital elevation models, orthomosaics, and GIS shapefiles of the 2020–2021 summit eruption at Kīlauea volcano, Island of Hawaiʻi – ScienceBase-Catalog
During the 2020–2021 summit eruption of Kīlauea volcano, Island of Hawaiʻi, staff at the U.S. Geological Survey Hawaiian Volcano Observatory (HVO) conducted 17 helicopter overflights of the eruption area between the dates of 21 December 2020 and 8 June 2021. Images captured during these flights were processed using the structure-from-motion (SfM) photogrammetry technique to produce digital elevation models (DEMs) and orthomosaics of a lava lake filling Halemaʻumaʻu crater. This data release contains the DEMs and orthomosaics processed to achieve the highest possible accuracy and spatial resolution. A pre-eruption DEM and orthomosaic produced using overflight images from 8 April 2019 and 29 May 2020, used for spatial reference, are also included. Vector shapefiles are included for each eruption overflight identifying the eruption vents, the perimeter of the eruption deposits (combined vent area and lava lake surface), islands on the lava lake surface, and the mobile surface of the lava lake (where incandescent, flowing lava was observed).
Full reference:
Carr, B.B., Zoeller, M.H., DeSmither, L.G., Downs, D.T., Hamilton, C.W., Mulliken, K., Parcheta, C.E., and Patrick, M.R., 2025, Digital elevation models, orthomosaics, and GIS shapefiles of the 2020–2021 summit eruption at Kīlauea volcano, Island of Hawaiʻi: U.S. Geological Survey data release,
VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX:WPRT / Nasdaq:WPRT), has entered into lock-up agreements with certain of its shareholders, executives and board members representing an aggregate of approximately 2.0 million shares, or 11.4% of the currently issued and outstanding shares, to vote in favour of the special resolution approving the sale of Westport Fuel Systems Italia S.r.l. (the “Lock-Up Agreements”).
“These Lock-Up Agreements are a significant vote of confidence in Westport’s strategic direction and growth potential. I am thankful to our key shareholders and our Board, for their continued support as we execute our plans to reduce the complexity of Westport’s business and move forward focusing on providing affordable solutions for hard to decarbonize segments of the heavy-duty truck and industrial application, supported by a strengthened balance sheet,” said Dan Sceli, Chief Executive Officer, Westport Fuel Systems.”
Recap of the Transaction
On March 31, 2025 Westport announced it had entered into a binding agreement (the “Agreement”) to sell its interest in Westport Fuel Systems Italia S.r.l., which includes the Light-Duty segment, including the light-duty OEM, delayed OEM, and independent aftermarket businesses, to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investments Management B.V. a prominent Dutch venture capital and private equity firm (the “Transaction”).
The Transaction provides for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments, and potential earnouts of up to an estimated $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Agreement.
Under the terms of the Agreement, Heliaca Investments through its subsidiary will acquire Westport’s Light-Duty segment, including its related assets and customer contracts. The Transaction is subject to shareholder approval and other customary closing conditions and is expected to close in late Q2 of 2025.
The proceeds from the proposed Transaction are expected to enable Westport to significantly improve its financial stability, while also supporting key growth initiatives focused on providing solutions for hard-to-decarbonize mobility and industrial applications. Following closing, Westport intends to align its cost structure to be more reflective of a smaller, more efficient organization, while also seeking further opportunities for efficiency gains.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.
This press release contains forward-looking statements, including statements regarding the closing of, and timing for closing of, the Transaction, shareholder approval of the Transaction, the anticipated benefits of the Transaction, including potential earn-out payments, the ability to strengthen our balance sheet andalign our cost structure, the ability to capitalize ongrowth initiatives,the ability to transition to a smaller, more efficient organization and our expectations regarding the future success of our business.Other forward-looking statements included in the release include those relating to Westport’s future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to completion and satisfaction of all conditions to closing of the Transaction set out in the Agreement, governmental policies, regulation and approval, the achievement of the performance criteria required for the earn out described above, purchase price adjustments contained in the Agreement, the demand our products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein.
COEUR D’ALENE – William Oliver Eyle, 21, of Lapwai, was sentenced to 19 years in federal prison for second degree murder, Acting U.S. Attorney Justin Whatcott announced today.
According to court records, on May 12, 2023, Eyle murdered Elias Albert Spencer on the Nez Perce Indian Reservation. There was no fight or disagreement between the two individuals. Eyle’s car broke down in front of Elias’ home and when Elias went to see what was going on, Eyle shot him five times. Elias’ family found his body on the sidewalk in front of the home. According to the statements from the sentencing, Eyle fled the area, destroyed evidence and remained a fugitive for months. He was finally located by the Federal Bureau of Investigation and the U.S. Marshals Service toward the end of November 2023. Eyle was 19 years at the time he murdered Elias.
Eyle pleaded guilty to second degree murder on January 29, 2025. United States District Judge Amanda K. Brailsford also ordered Eyle to serve five years of supervised release following his prison sentence. Eyle’s mother, Jacinta Wheeler, pleaded guilty to misprision of a felony and was sentenced to 30 months in federal prison on November 14, 2024, due to her failure to report the murder and her advice to Eyle to flee.
“The murder of Elias Albert Spencer was a senseless act of violence.” Acting U.S. Attorney Whatcott said. “My heart goes out to Elias’ family, whose strength and resolve during this tragedy has been inspiring. While this sentence cannot bring Elias back, hopefully it provides them some measure of closure, while also preventing future acts of violence by this defendant for a lengthy time.”
“William Eyle’s actions profoundly impacted not only the victim’s family but the community’s sense of safety,” said Special Agent in Charge Mehtab Syed of the Salt Lake City FBI. “While nothing will bring their loved one back, we hope the sentence provides some sense of justice to Elias Spencer’s family and friends. The FBI is committed to working with our partners to solve MMIP cases and ensure safety on reservations.”
Acting U.S. Attorney Whatcott commended the work of the Federal Bureau of Investigation and the Nez Perce Tribal Police, which led to the charges. Assistants U.S. Attorneys Traci Whelan and Adam Johnson prosecuted the case.
Source: United States House of Representatives – Congresswoman Erin Houchin (Indiana 09)
WASHINGTON, D.C. – This week, the House of Representatives passed the Rural Broadband Protection Act of 2025, led by Congresswoman Erin Houchin (IN-09) to strengthen transparency and accountability in federal broadband programs.
The bill, which passed unanimously by voice vote, ensures that taxpayer dollars invested in rural broadband projects reach the communities that need them most. It also guarantees that providers selected for funding are capable of delivering reliable, high-speed internet access.
“Across Indiana and throughout rural America, families, farmers, students, and small business owners are still struggling with slow or unreliable internet access,” said Rep. Houchin. “That’s not just an inconvenience — it’s a barrier to opportunity, education, healthcare, and economic growth. When Congress invests in rural broadband, we must make sure those dollars are reaching the communities they’re meant to serve.”
The legislation directs the Federal Communications Commission (FCC) to establish a formal vetting process for applicants seeking broadband funding through the Universal Service Fund’s high-cost programs. Providers will be evaluated based on their experience, technical capability, and demonstrated ability to deploy broadband infrastructure efficiently and effectively.
The Rural Broadband Protection Act now advances to the Senate for further consideration.
All The Boys Are Here writer/director Goran Stolevski and It’s All Going Very Well No Problems At All writer/director/producer/star Tilda Cobham-Hervey (Tilda photo credit Matt Loxton). Screen Australia has today announced a significant investment for local scripted projects, reflecting the agency’s commitment to rich Australian narrative content and meaningful creator pathways. Across feature film, television and online, $7.6 million has been shared across more than 100 projects, contributing a substantial amount to the overall direct production and development funding provided in the 24/25 financial year so far. The mix of projects showcases a wide range of themes and formats, speaking to the evolving scripted landscape and highlighting the importance of reaching Australian audiences where they are watching. Among the projects is the debut feature film from writer/director/producer/star Tilda Cobham-Hervey set in an aged care home, It’s All Going Very Well No Problems At All; animated children’s series Jidoo & Ibis, about the relationship between a grumpy Grandpa and Australia’s beloved bin chicken; comedy series for TikTok CEEBS about two friends on a mission to save their local youth centre from imminent closure; and a series inspired by a true story, DIVA, about 21-year-old Elly who balances his strict, religious Samoan life with ambitions of becoming a professional wrestler in drag. Screen Australia Director of Narrative Content Louise Gough said, “Screen Australia is uniquely positioned to support a thriving pipeline of Australian stories that connect with audiences across multiple platforms and genres. This funding reflects our commitment to both emerging and established creatives, reinforcing the strength and diversity of our industry.” “Demand on Screen Australia funding remains high, and our recent survey was a reminder of the value that the sector places on our direct funding. In an ever-changing landscape, one thing remains constant – Australian screen storytelling is a vital cultural force that continues to resonate with audiences here at home and across the world. We’re proud to back this extensive collection of distinct and ambitious projects,” said Gough. Screen Australia has also supported 11 major television series for production to be announced in coming months, sharing in $12 million of direct funding and with a total production value of over $117 million. The agency has recently supported Stan Original Series’ He Had it Coming and comedy-horror Gnomes. Also recently announced is Bus Stop Films’ first feature film Boss Cat, beginning production in June and starring Olivia Hargroder, Penny Downie and Julia Savage. The supported projects include:
It’s All Going Very Well No Problems At All: This drama is the debut feature film from writer/director Tilda Cobham-Hervey (A Field Guide to Being a 12 Year Old Girl, I am Woman) and is produced by Liam Heyen (Jimpa, Latecomers), Dev Patel (Lion, Monkey Man), Jomon Thomas (Hotel Mumbai, Monkey Man) and Cobham-Hervey, with Natalya Pavchinskaya and Cyna Strachan executive producing. The film follows Audrey (Cobham-Hervey), a young artist teetering on the edge of a quiet collapse, who finds solace and understanding through a profound connection with Harold, an elderly resident at the care home where she works. Major production investment from Screen Australia and S’ya Concept in association with the South Australian Film Corporation, with support from the Adelaide Film Festival Investment Fund. Local distribution by Kismet. The film is a Mad Ones and Minor Realm production. Jidoo & Ibis: Inspired by the real-life shenanigans between the creator’s father and the hungry bin chickens who flock to his garden, Jidoo & Ibis is from writer/producer Wendy Hanna (Beep & Mort) with writers Michael Drake (Beep & Mort) and Clare Madsen (Little J & Big Cuz). It is a 40-part animated series in development for young pre-schoolers about unexpected problems and unexpected friendships – told through the relationship between grumpy Grandpa Jidoo and an all too familiar larrikin, Ibis. CEEBS: This 18-part comedy for TikTok is from director Harry Lloyd (Rock Island Mysteries) and writers Betiel Beyin and Leigh Lule, some of the team behind Turn up the Volume. Nikki Tran (Girl, Interpreted) and Amie Batalibasi (Blackbird) are producing. CEEBS follows recent high-school graduates, Zion and Ruby, as they run for ‘Youth President’ to save their local youth centre from imminent closure – all while trying to ensure their lifelong friendship doesn’t get caught in the crossfire. It has received principal production funding from Screen Australia in association with VicScreen. DIVA: Inspired by a true story, DIVA is created by producer Jessica Magro (Bad Ancestors) and executive producer Jason Dewhurst, working alongside producer Lauren Brown (Thou Shalt Not Steal) and writer Nick Coyle (Bump, It’s Fine, I’m Fine). It is also executive produced by Charlie Aspinwall and Daley Pearson. This eight-part series in development from Ludo Studio and Purple Carrot Entertainment follows 21-year-old Elly as he attempts to balance his strict, religious Samoan life and his secret queer identity as a professional wrestler in drag. Dreamboat: A feature comedy in development celebrating the enduring power of BFFs, second chances, and embracing life’s next chapter, from writer Joan Sauers (Ladies in Black, Wakefield), producers Courtney Botfield and Kate Riedl, script editor Megan Simpson Huberman and script consultant Zoë Coombs Marr. In Dreamboat, Suzy’s plans for a cruisy retirement are capsized when best friend, Val, takes her on a cruise to Antarctica. All The Boys Are Here: From Causeway Films (Talk to Me), this queer romance feature film is created by writer/director Goran Stolevski (Of An Age, You Won’t Be Alone) and produced by Kristina Ceyton and Samantha Jennings of Talk to Me. It is about a New York novelist who, while attending a family funeral in Vienna, discovers a German relative’s illicit queer love affair with a Jewish man during WW2 – sending him on a journey through the past that changes his future. It has received major production investment from Screen Australia in association with the Polish Film Institute, with Maslow Entertainment distributing and New Europe Film Sales and Charades managing international sales. A Model Family: A 10-part comedy in development for the whole family from some of the team behind The Disposables, including creator/writers Keir Wilkins and Sonia Whiteman, creator/writer/producer Renny Wijeyamohan, creator/producer/executive producer Karen Radzyner, producer Linda Micsko (The Office Australia) and executive producer Oliver Lawrance, with Guy Edmonds (Spooky Files) and Emmanuelle Mattana (Fwends) attached as writers. In A Model Family, five ultra-lifelike AIs have escaped from a secret research facility in the Australian countryside and must pass for a human ‘nuclear’ family to survive. Fear is the Rider: This horror-thriller is from the team behind The Forgiven, including writer/director/producer John Michael McDonagh, producers Elizabeth Eves, Kate Glover, Nick Gordon and Trevor Matthews, and executive producer Natalie Coleman. In Fear is the Rider, a lone woman searching for her missing mother is pursued into the Australian Outback by a terrifying family of cannibalistic serial killers, with only an ex-con and a young girl willing to help her. Major production investment from Screen Australia and financed with support from Screen NSW’s Made in NSW Fund. Local distribution by Umbrella Entertainment, with international sales by Film Constellation and CAA. After All: From writer/director/producer Jess Murray (Moments of Clarity) and writers Tom Ward and Declan O’Byrne-Inglis, After All is a six-part comedic adult YouTube animation set against a post-apocalyptic wasteland. After living in a bunker for most of their lives, mutant filmmakers Flynn and Marshall venture out to make “the best movie ever made”, but quickly realise that stardom is not as important as friendship. It has received principal production funding from Screen Australia and financed with assistance from Screen Tasmania. Bluebottle: A thriller-comedy feature film from director Jim Weir and writer/director Jack Clark of Birdeater, producers Gal Greenspan (Moja Vesna), Rachel Forbes (Strange Creatures) and Ryan Bartecki (The Novice), and executive producers Joel Edgerton (Boy Swallows Universe), Ari Harrison (Lesbian Space Princess, The Moogai) and Jane Badler. During the final night of ‘Schoolies’ in an isolated coastal town, three local dropouts battle three handsome older men for the affection of three private school girls – tackling social issues of class, consent and identity. Major production investment from Screen Australia, with Co Created Media co-financing and Umbrella Entertainment distributing locally.
CEEBS For the list of announced projects funded across the Narrative Content Department this financial year, visit:
For more information about Screen Australia funding and to apply, click here. Download PDF Media enquiries Maddie Walsh | Publicist + 61 2 8113 5915 | [email protected] Jessica Parry | Senior Publicist (Mon, Tue, Thu) + 61 428 767 836 | [email protected] All other general/non-media enquiries Sydney + 61 2 8113 5800 | Melbourne + 61 3 8682 1900 | [email protected]
Stockholm, 30 April 2025 – Anoto Group AB (publ) (“Anoto”) today publishes its annual report for 2024 and corrects for changes in the results as reported in the year-end report published on 28 February 2025. The annual report is available on the Company’s website, www.anoto.com.
Compared to previously communicated results in the year-end report for 2024, Anoto reports a change in the results in the annual report. The corrections result in an improvement of our total comprehensive income for the year of 299 KSEK (-49,206 KSEK to -48,907 KSEK), which stems from an increase of 299 KSEK (29,770 KSEK to 30,069 KSEK) in net sales previously not considered.
The Group also reports changes to classifications of costs: a one-time write down of components in inventory from operating expenses to cost of goods sold, the categorization of intercompany interest from other income to financial items and revising the presentation of the undeposited funds from the share issue completed in 2024, from cash and cash equivalents to other current receivables.
These classification changes do not change our overall results for the year but affect individual line items within our financial statements.
The Group also reports a change in the results of the parent company, these changes have no impact on the Group’s consolidated results. The changes to the parent company results are from a write-down of participation and loan receivables in subsidiaries. As a result of updated impairment testing done on subsidiaries, the parent company has elected to write down 40.1 MSEK on the value of the parent company’s participation in Anoto AB. In addition, the parent company has elected to write down an additional 125.3 MSEK in receivables from subsidiaries: 7.3 MSEK from Anoto Korea, 104.5 MSEK from Anoto AB, and 13.5 MSEK from Anoto Ltd. These changes have been updated in the annual report for 2024, with no impact on the Group’s consolidated results.
Adrian Weller was not a member of the board during the reporting period covered by the annual report for the year 2024. As such, he is unable to verify the accuracy of the financial statements and management reports from personal experience or knowledge. His approval of the annual report is based entirely on the representations made by management and the auditor’s report
For further information contact:
Kevin Adeson, Chairman of the Board of Directors
For more information about Anoto, visit www.anoto.com or email ir@anoto.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, 116 74 Stockholm
This information constitutes inside information as Anoto Group AB (publ) is obliged to disclose under the EU Market Abuse Regulation 596/2014. The information was provided by the contact person above for publication on 30 April 2025 at 23:30 CEST.
About Anoto Group
Anoto Group AB (Nasdaq Stockholm: ANOT) is a publicly held Swedish technology company and the original inventor of the digital pen and dot pattern technology. Anoto develops intelligent pens, paper and software that seamlessly bridge handwritten input and the digital world. Its core business lines include ‘inq’ and ‘Livescribe’ retail products as well as enterprise workflow solutions. Anoto’s smartpens are used globally by students, professionals, and organizations to enhance productivity, creativity, and data capture. With a renewed focus on high-quality design, software innovation, and customer experience, Anoto is driving the next generation of digital writing.
MUNSTER, Ind., April 30, 2025 (GLOBE NEWSWIRE) — Finward Bancorp (Nasdaq: FNWD) (the “Bancorp”), the holding company for Peoples Bank (the “Bank”), today announced that net income available to common stockholders was $456 thousand, or $0.11 per diluted share, for the quarter ended March 31, 2025, as compared to $2.1 million, or $0.49 per diluted share for the quarter ended December 31, 2024, and as compared to $9.3 million or $2.17 per diluted share for the quarter ended March 31, 2024. Selected performance metrics are as follows for the periods presented:
Finward Bancorp
Quarterly Financial Report
Performance Ratios
Quarter ended,
(unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2025
2024
2024
2024
2024
Return on equity
1.17
%
5.39
%
1.60
%
0.39
%
24.97
%
Return on assets
0.09
%
0.41
%
0.12
%
0.03
%
1.77
%
Tax adjusted net interest margin (Non-GAAP)
2.95
%
2.79
%
2.66
%
2.67
%
2.57
%
Noninterest income / average assets
0.43
%
0.72
%
0.55
%
0.50
%
2.57
%
Noninterest expense / average assets
2.81
%
2.75
%
2.80
%
2.79
%
2.86
%
Efficiency ratio
93.11
%
87.20
%
97.32
%
98.56
%
59.41
%
“Margin continued to expand in the first quarter as deposits repriced lower, continuing the trend we have seen over the past year. With economic uncertainty potentially increasing, we are maintaining our focus on capital and credit quality. Non-performing loans improved in the first quarter, and our Provision for Credit Loss was driven by model-related factors that reflect the broader trends we see in the economy. Seasonal and timing factors impacted operating expense and non-interest income, and we see opportunity in both areas as the year moves forward,” said Benjamin Bochnowski, CEO. “Our team remains focused on continued improvement in operating results, and on serving our customers and communities.”
Highlights of the current period include:
Net Interest Margin – The net interest margin for the quarter ended March 31, 2025, was 2.81%, compared to 2.65% for the quarter ended December 31, 2024. The tax-adjusted net interest margin (a non-GAAP measure) for the quarter ended March 31, 2025, was 2.95%, compared to 2.79% for the quarter ended December 31, 2024. The increased net interest margin for the three months ended March 31, 2025 compared to December 31, 2024 is primarily the result of reduced deposit and borrowing costs as a result of the Federal Reserve’s reduction of federal funds rates during the last four months of 2024. See Table 1 at the end of this press release for a reconciliation of the tax-adjusted net interest margin to the GAAP net interest margin.
Funding – As of March 31 2025, deposits totaled $1.8 billion, a decrease of $10.2 million, or 0.6% compared to December 31, 2024, which also totaled $1.8 billion. As of March 31, 2025, non-interest-bearing deposits totaled $281.5 million, an increase of $18.1 million or 6.9%, compared to December 31, 2024. Core deposits totaled $1.2 billion at both March 31, 2025 and December 31, 2024. Core deposits include checking, savings, and money market accounts and represented 68.9% of the Bancorp’s total deposits at March 31, 2025. As of March 31, 2025, balances for certificates of deposit totaled $544.8 million, compared to $560.3 million on December 31, 2024, a decrease of $15.5 million or 2.8%. The decline in total portfolio deposits is primarily related to cyclical flows and continued adjustments to deposit pricing. The increase in non-interest-bearing deposits is primarily attributable to inflows of business-related checking deposits after year-end. In addition, as of March 31, 2025, borrowings and repurchase agreements totaled $101.7 million, a decrease of $3.4 million or 3.2%, compared to December 31, 2024. The decrease in short-term borrowings was the result of cyclical inflows and outflows of interest-earning assets and interest-bearing liabilities.
As of March 31, 2025, 72% of our deposits are fully FDIC insured, and another 9% are further backed by the Indiana Public Deposit Insurance Fund. The Bancorp’s liquidity position remains strong with solid core deposit customer relationships, excess cash, debt securities, contractual loan repayments, and access to diversified borrowing sources. As of March 31, 2025, the Bancorp had available liquidity of $697 million including borrowing capacity from the FHLB and Federal Reserve facilities.
Securities Portfolio – Securities available for sale balances decreased by $3.5 million to $330.1 million as of March 31, 2025, compared to $333.6 million as of December 31, 2024. The decrease in securities available for sale was primarily due to continued portfolio runoff. Accumulated other comprehensive loss (“AOCL”) was $58.2 million as of March 31, 2025, compared to $58.1 million on December 31, 2024, a decline of $160.4 thousand, or 0.3%. The yield on the securities portfolio increased to 2.38% for the three months ended March 31, 2025 from 2.34% for the three months ended December 31, 2024. Management did not execute any securities sale transactions during the quarter.
Lending – The Bank’s aggregate loan portfolio totaled $1.5 billion on both March 31, 2025 and December 31, 2024. During the three months ended March 31, 2025, the Bank originated $36.7 million in new commercial loans, compared to $25.0 million during the three months ended December 31, 2024. The loan portfolio represents 79.1% of earning assets and is comprised of 62.6% commercial-related credits. At March 31, 2025, the Bancorp’s portfolio loan balances in commercial real estate owner occupied properties totaled $236.9 million or 15.7% of total loan balances and commercial real estate non-owner-occupied properties totaled $302.8 million or 20.1% of total loan balances. Of the $302.8 million in commercial real estate non-owner-occupied properties balances, loans collateralized by office buildings represented $40.4 million or 2.7% of total loan balances.
Asset Quality – At March 31, 2025, non-performing loans totaled $12.5 million, compared to $13.7 million at December 31, 2024, a decrease of $1.3 million or 9.1%. The Bank’s ratio of non-performing loans to total loans was 0.84% at March 31, 2025, compared to 0.91% at December 31, 2024. The Bank’s ratio of non-performing assets to total assets was 0.69% at March 31, 2025, compared to 0.74% at December 31, 2024. Management maintains a vigilant oversight of nonperforming loans through proactive relationship management.
The allowance for credit losses (ACL) on loans totaled $17.9 million at March 31, 2025, or 1.20% of total loans receivable, compared to $16.9 million at December 31, 2024, or 1.12% of total loans receivable, an increase of $1 million or 6.2%. The Bank’s unused commitment reserve, included in other liabilities, totaled $2.1 million at March 31, 2025, compared to $2.7 million at December 31, 2024, a decrease of $622 thousand or 22.7%.
For the quarter ended March 31, 2025, the Bank recorded a net provision for credit loss expense totaling $454 thousand based on historical loss rate updates, migration of loan and unfunded commitment segment balances, and other factors within the Bank’s ACL modeling. The first quarter’s provision expense consisted of a $1.1 million provision for credit losses on loans, and a $623 thousand reversal of provision for credit losses on unused commitments. The decrease in the Bank’s unused commitment reserve was primarily due to lower loss rates. For the quarter ended March 31, 2025, net charge-offs, totaled $32.7 thousand, compared to $2.2 million for the quarter ended December 31, 2024, a decrease of $2.1 million, or a decline of 97.2%. The ACL as a percentage of non-performing loans, or coverage ratio, was 143.8% at March 31, 2025 compared to 123.1% at December 31, 2024.
Operating Expenses– Non-interest expense as a percentage of average assets was 2.81% for the quarter ended March 31, 2025, as compared to 2.75% for the quarter ended December 31, 2024. The increase in non-interest expenses quarter over quarter was primarily attributable to increased compensation and benefit expenses offset by reduced data processing and marketing expenses. The Bank remains focused on identifying additional operating efficiencies and third-party expense reductions. Compensation and benefits expense is up 3.7% for the quarter ended March 31, 2025, compared to the quarter ended March 31, 2024, primarily due to annual merit-based salary increases during the quarter ended March 31, 2025.
Capital Adequacy– As of March 31, 2025, the Bank’s tier 1 capital to adjusted average assets ratio was 8.48%, an improvement of 0.01% compared to 8.47% at December 31, 2024. The Bank’s capital continues to exceed all applicable regulatory capital requirements as set forth in 12 C.F.R. § 324. The Bancorp’s tangible book value per share was $29.55 at March 31, 2025, up from $29.48 as of December 31, 2024 (a non-GAAP measure). Tangible common equity to total assets was 6.26% at March 31, 2025, up from 6.17% as of December 31, 2024 (a non-GAAP measure). Excluding accumulated other comprehensive losses, tangible book value per share increased to $43.02 as of March 31, 2025, from $42.94 as of December 31, 2024 (a non-GAAP measure). See Table 1 at the end of this press release for a reconciliation of the tangible book value per share, tangible book value per share adjusted for other accumulated comprehensive losses, tangible common equity as a percentage of total assets, and tangible common equity as a percentage of total assets adjusted for accumulated other comprehensive losses to the related GAAP ratios.
Disclosures Regarding Non-GAAP Financial Measures Reported amounts are presented in accordance with GAAP. In this press release, the Bancorp also provides certain financial measures identified as non-GAAP. The Bancorp’s management believes that the non-GAAP information, which consists of tangible common equity, tangible common equity adjusted for accumulated other comprehensive losses, tangible book value per share, tangible book value per share adjusted for accumulated other comprehensive losses, tangible common equity/total assets, tax-adjusted net interest margin, and efficiency ratio, which can vary from period to period, provides a better comparison of period to period operating performance. The adjusted net interest income and tax-adjusted net interest margin measures recognize the income tax savings when comparing taxable and tax-exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Management believes that it is standard practice in the banking industry to present net interest income and net interest margin on a fully tax-equivalent basis and that it may enhance comparability for peer comparison purposes. Additionally, the Bancorp believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures which may be presented by other companies. Refer to Table 1 – Reconciliation of Non-GAAP Financial Measures at the end of this document for a reconciliation of the non-GAAP measures identified herein and their most comparable GAAP measures.
About Finward Bancorp Finward Bancorp is a locally managed and independent financial holding company headquartered in Munster, Indiana, whose activities are primarily limited to holding the stock of Peoples Bank. Peoples Bank provides a wide range of personal, business, electronic and wealth management financial services from its 26 locations in Lake and Porter Counties in Northwest Indiana and Chicagoland. Finward Bancorp’s common stock is quoted on The NASDAQ Stock Market, LLC under the symbol FNWD. The website ibankpeoples.com provides information on Peoples Bank’s products and services, and Finward Bancorp’s investor relations.
Forward Looking Statements This press release may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of the Bancorp. For these statements, the Bancorp claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this communication should be considered in conjunction with the other information available about the Bancorp, including the information in the filings the Bancorp makes with the SEC. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Forward-looking statements are typically identified by using words such as “anticipate,” “estimate,” “project,” “intend,” “plan,” “believe,” “will” and similar expressions in connection with any discussion of future operating or financial performance.
Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include: changes in domestic and international trade policies, including tariffs and other non-tariff barriers, and the effects of such changes on the Bank and its customers; the Bank’s ability to demonstrate compliance with the terms of the previously disclosed consent order and memorandum of understanding entered into between the Bank and the Federal Deposit Insurance Corporation (“FDIC”) and Indiana Department of Financial Institutions (“DFI”), or to demonstrate compliance to the satisfaction of the FDIC and/or DFI within prescribed time frames; the Bank’s agreement under the memorandum of understanding to refrain from paying cash dividends without prior regulatory approval; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates, market liquidity, and capital markets, as well as the magnitude of such changes, which may reduce net interest margins; the aggregate effects of inflation experienced in recent years; further deterioration in the market value of securities held in the Bancorp’s investment securities portfolio, whether as a result of macroeconomic factors or otherwise; customer acceptance of the Bancorp’s products and services; customer borrowing, repayment, investment, and deposit practices; customer disintermediation; the introduction, withdrawal, success, and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions, and divestitures; economic conditions; and the impact, extent, and timing of technological changes, capital management activities, regulatory actions by the Federal Deposit Insurance Corporation and Indiana Department of Financial Institutions, and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Bancorp’s reports (such as the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K) filed with the SEC and available at the SEC’s Internet website (www.sec.gov). All subsequent written and oral forward-looking statements concerning matters attributable to the Bancorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Except as required by law, The Bancorp does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statement is made.
In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory and accounting considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends.
FOR FURTHER INFORMATION CONTACT SHAREHOLDER SERVICES (219) 853-7575
Finward Bancorp
Quarterly Financial Report
Performance Ratios
Quarter ended,
(unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2025
2024
2024
2024
2024
Return on equity
1.17%
5.39%
1.60%
0.39%
24.97%
Return on assets
0.09%
0.41%
0.12%
0.03%
1.77%
Yield on loans
5.25%
5.27%
5.22%
5.11%
5.02%
Yield on security investments
2.38%
2.34%
2.37%
2.43%
2.37%
Total yield on earning assets
4.71%
4.74%
4.70%
4.64%
4.52%
Cost of interest-bearing deposits
2.17%
2.41%
2.47%
2.37%
2.36%
Cost of repurchase agreements
3.35%
3.65%
4.04%
3.86%
3.88%
Cost of borrowed funds
4.12%
4.31%
4.56%
4.95%
4.62%
Total cost of interest-bearing liabilities
2.28%
2.53%
2.63%
2.55%
2.53%
Tax adjusted net interest margin1
2.95%
2.79%
2.66%
2.67%
2.57%
Noninterest income / average assets
0.43%
0.72%
0.55%
0.50%
2.57%
Noninterest expense / average assets
2.81%
2.75%
2.80%
2.79%
2.86%
Efficiency ratio
93.11%
87.20%
97.32%
98.56%
59.41%
Non-performing assets to total assets
0.69%
0.74%
0.73%
0.61%
0.64%
Non-performing loans to total loans
0.84%
0.91%
0.92%
0.75%
0.78%
Allowance for credit losses to non-performing loans
143.84%
123.10%
134.12%
161.17%
159.12%
Allowance for credit losses to loans receivable
1.20%
1.12%
1.23%
1.22%
1.25%
Basic earnings per share
$0.11
$0.49
$0.14
$0.03
$2.18
Diluted earnings per share
$0.11
$0.49
$0.14
$0.03
$2.17
Stockholders’ equity / total assets
7.44%
7.35%
7.69%
7.16%
7.32%
Book value per share
$35.10
$35.10
$36.99
$34.45
$35.17
Closing stock price
$29.10
$28.11
$31.98
$24.52
$24.60
Price to earnings per share ratio
68.08
14.25
56.21
182.60
2.82
Dividends declared per common share
$0.12
$0.12
$0.12
$0.12
$0.12
Non-GAAP Performance Ratios
Quarter ended,
(unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2025
2024
2024
2024
2024
Net interest margin – tax equivalent
2.95%
2.79%
2.66%
2.67%
2.57%
Tangible book value per diluted share
$29.55
$29.48
$31.28
$28.67
$29.30
Tangible book value per diluted share adjusted for AOCL
$43.02
$42.94
$42.47
$42.33
$42.36
Tangible common equity to total assets
6.26%
6.17%
6.51%
5.95%
6.09%
Tangible common equity to total assets adjusted for AOCL
9.12%
8.99%
8.83%
8.79%
8.81%
(1) Tax adjusted net interest margin represents a non-GAAP financial measure. See the non-GAAP reconciliation table section captioned “Non-GAAP Financial Measures” for further disclosure regarding non-GAAP financial measures
Quarter Ended
(Dollars in thousands)
Average Balances, Interest, and Rates
(unaudited)
March 31, 2025
December 31, 2024
Average Balance
Interest
Rate (%)
Average Balance
Interest
Rate (%)
ASSETS
Interest bearing deposits in other financial institutions
$
53,553
$
540
4.03
$
50,271
$
650
5.17
Federal funds sold
1,375
12
3.49
891
9
4.04
Securities available-for-sale
336,060
1,998
2.38
343,411
2,011
2.34
Loans receivable
1,498,312
19,655
5.25
1,504,233
19,802
5.27
Federal Home Loan Bank stock
6,547
136
8.31
6,547
123
7.51
Total interest earning assets
1,895,847
$
22,341
4.71
1,905,353
$
22,595
4.74
Cash and non-interest bearing deposits in other financial institutions
27,919
27,360
Allowance for credit losses
(16,946
)
(18,110
)
Other noninterest bearing assets
153,148
154,707
Total assets
$
2,059,968
$
2,069,310
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing deposits
$
1,481,377
$
8,044
2.17
$
1,465,198
$
8,811
2.41
Repurchase agreements
41,631
349
3.35
43,372
396
3.65
Borrowed funds
61,613
635
4.12
72,536
781
4.31
Total interest bearing liabilities
1,584,621
$
9,028
2.28
1,581,106
$
9,988
2.53
Non-interest bearing deposits
279,013
289,467
Other noninterest bearing liabilities
40,923
42,944
Total liabilities
1,904,557
1,913,517
Total stockholders’ equity
155,411
155,793
Total liabilities and stockholders’ equity
$
2,059,968
$
2,069,310
Net interest income
$
13,313
$
12,607
Return on average assets
0.09
%
0.41
%
Return on average equity
1.17
%
5.39
%
Net interest margin (average earning assets)
2.81
%
2.65
%
Net interest margin (average earning assets) – tax equivalent
2.95
%
2.79
%
Net interest spread
2.43
%
2.21
%
Ratio of interest-earning assets to interest-bearing liabilities
1.20x
1.21x
Finward Bancorp
Quarterly Financial Report
Balance Sheet Data
(Dollars in thousands)
(unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2025
2024
2024
2024
2024
ASSETS
Cash and non-interest bearing deposits in other financial institutions
$
18,563
$
17,883
$
23,071
$
19,061
$
16,418
Interest bearing deposits in other financial institutions
52,829
52,047
48,025
63,439
54,755
Federal funds sold
975
654
553
707
607
Total cash and cash equivalents
72,367
70,584
71,649
83,207
71,780
Securities available-for-sale
330,127
333,554
350,027
339,585
346,233
Loans held-for-sale
2,849
1,253
2,567
1,185
667
Loans receivable, net of deferred fees and costs
1,491,696
1,508,976
1,508,242
1,506,398
1,508,251
Less: allowance for credit losses
(17,955
)
(16,911
)
(18,516
)
(18,330
)
(18,805
)
Net loans receivable
1,473,741
1,492,065
1,489,726
1,488,068
1,489,446
Federal Home Loan Bank stock
6,547
6,547
6,547
6,547
6,547
Accrued interest receivable
7,821
7,721
7,442
7,695
7,583
Premises and equipment
46,680
47,259
47,912
48,696
47,795
Foreclosed real estate
–
–
–
–
71
Cash value of bank owned life insurance
33,712
33,514
33,312
33,107
32,895
Goodwill
22,395
22,395
22,395
22,395
22,395
Other intangible assets
1,635
1,860
2,203
2,555
2,911
Other assets
41,840
43,947
40,882
44,027
43,459
Total assets
$
2,039,714
$
2,060,699
$
2,074,662
$
2,077,067
$
2,071,782
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Non-interest bearing
$
281,461
$
263,324
$
285,157
$
286,784
$
296,959
Interest bearing
1,468,923
1,497,242
1,463,653
1,469,970
1,450,519
Total
1,750,384
1,760,566
1,748,810
1,756,754
1,747,478
Repurchase agreements
45,053
40,116
43,038
42,973
41,137
Borrowed funds
56,657
65,000
85,000
85,000
90,000
Accrued expenses and other liabilities
35,813
43,603
38,259
43,709
41,586
Total liabilities
1,887,907
1,909,285
1,915,107
1,928,436
1,920,201
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding
–
–
–
–
–
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued and outstanding: March 31, 2025 – 4,324,485 December 31, 2024 – 4,313,698
–
–
–
–
–
Additional paid-in capital
70,132
70,034
69,916
69,778
69,727
Accumulated other comprehensive loss
(58,244
)
(58,084
)
(48,241
)
(58,939
)
(56,313
)
Retained earnings
139,919
139,464
137,880
137,792
138,167
Total stockholders’ equity
151,807
151,414
159,555
148,631
151,581
Total liabilities and stockholders’ equity
$
2,039,714
$
2,060,699
$
2,074,662
$
2,077,067
$
2,071,782
Finward Bancorp
Quarterly Financial Report
Consolidated Statements of Income
(Dollars in thousands)
Quarter Ended,
(unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2025
2024
2024
2024
2024
Interest income:
Loans
$
19,655
$
19,802
$
19,660
$
19,174
$
18,879
Securities & short-term investments
2,686
2,793
2,812
2,953
3,105
Total interest income
22,341
22,595
22,472
22,127
21,984
Interest expense:
Deposits
8,045
8,812
8,946
8,610
8,794
Borrowings
983
1,176
1,520
1,463
1,410
Total interest expense
9,028
9,988
10,466
10,073
10,204
Net interest income
13,313
12,607
12,006
12,054
11,780
Provision for credit losses
454
(579
)
–
76
–
Net interest income after provision for credit losses
12,859
13,186
12,006
11,978
11,780
Noninterest income:
Fees and service charges
1,109
1,439
1,463
1,257
1,153
Wealth management operations
619
728
731
763
633
Gain on tax credit investment
67
1,236
–
–
–
Gain on sale of loans held-for-sale, net
230
328
338
320
152
Increase in cash value of bank owned life insurance
198
202
205
212
193
Gain (loss) on sale of real estate
–
(212
)
–
15
11,858
Loss on sale of securities, net
–
–
–
–
(531
)
Other
6
11
130
6
17
Total noninterest income
2,229
3,732
2,867
2,573
13,475
Noninterest expense:
Compensation and benefits
7,372
6,628
6,963
7,037
7,109
Occupancy and equipment
2,111
2,045
2,181
2,116
1,908
Data processing
1,039
1,202
1,165
1,135
1,170
Federal deposit insurance premiums
433
457
435
397
501
Marketing
86
220
209
212
158
Professional and outside services
1,260
1,341
1,251
1,257
1,557
Technology
454
509
602
507
625
Other
1,716
1,845
1,668
1,756
1,976
Total noninterest expense
14,471
14,247
14,474
14,417
15,004
Income before income taxes
617
2,671
399
134
10,251
Income tax expenses (benefit)
161
569
(207
)
(9
)
972
Net income
$
456
$
2,102
$
606
$
143
$
9,279
Earnings per common share:
Basic
$
0.11
$
0.49
$
0.14
$
0.03
$
2.18
Diluted
$
0.11
$
0.49
$
0.14
$
0.03
$
2.17
Finward Bancorp
Quarterly Financial Report
Asset Quality
(Dollars in thousands)
(unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2025
2024
2024
2024
2024
Nonaccruing loans
$
12,483
$
13,738
$
13,806
$
11,079
$
11,603
Accruing loans delinquent more than 90 days
–
–
–
294
215
Securities in non-accrual
1,630
1,419
1,440
1,371
1,442
Foreclosed real estate
–
–
–
–
71
Total nonperforming assets
$
14,113
$
15,157
$
15,246
$
12,744
$
13,331
Allowance for credit losses (ACL):
ACL specific allowances for collateral dependent loans
$
259
$
284
$
1,821
$
1,327
$
1,455
ACL general allowances for loan portfolio
17,696
16,627
16,695
17,003
17,351
Total ACL
$
17,955
$
16,911
$
18,516
$
18,330
$
18,806
(Dollars in thousands)
Minimum Required To Be
(unaudited)
Minimum Required For
Well Capitalized Under Prompt
Actual
Capital Adequacy Purposes
Corrective Action Regulations
March 31, 2025
Amount
Ratio
Amount
Ratio
Amount
Ratio
Common equity tier 1 capital to risk-weighted assets
$178,036
11.02%
$72,679
4.50%
$104,981
6.50%
Tier 1 capital to risk-weighted assets
$178,036
11.02%
$96,906
6.00%
$129,207
8.00%
Total capital to risk-weighted assets
$198,107
12.27%
$129,207
8.00%
$161,509
10.00%
Tier 1 capital to adjusted average assets
$178,036
8.48%
$84,019
4.00%
$105,023
5.00%
Table 1 – Reconciliation of the Non-GAAP Performance Measures
(Dollars in thousands)
Quarter Ended,
(unaudited)
March 31, 2025
December 31, 2024
September 30, 2024
June 30, 2024
March 31, 2024
Calculation of tangible common equity
Total stockholder’s equity
$
151,807
$
151,414
$
159,555
$
148,631
$
151,581
Goodwill
(22,395
)
(22,395
)
(22,395
)
(22,395
)
(22,395
)
Other intangibles
(1,635
)
(1,860
)
(2,203
)
(2,555
)
(2,911
)
Tangible common equity
$
127,777
$
127,159
$
134,957
$
123,681
$
126,275
Calculation of tangible common equity adjusted for accumulated other comprehensive loss
Tangible common equity
$
127,777
$
127,159
$
134,957
$
123,681
$
126,275
Accumulated other comprehensive loss
58,244
58,084
48,241
58,939
56,313
Tangible common equity adjusted for accumulated other comprehensive loss
$
186,021
$
185,243
$
183,198
$
182,620
$
182,588
Calculation of tangible book value per share
Tangible common equity
$
127,777
$
127,159
$
134,957
$
123,681
$
126,275
Shares outstanding
4,324,485
4,313,698
4,313,940
4,313,940
4,310,251
Tangible book value per diluted share
$
29.55
$
29.48
$
31.28
$
28.67
$
29.30
Calculation of tangible book value per diluted share adjusted for accumulated other comprehensive loss
Tangible common equity adjusted for accumulated other comprehensive loss
$
186,021
$
185,243
$
183,198
$
182,620
$
182,588
Shares outstanding
4,324,485
4,313,698
4,313,940
4,313,940
4,310,251
Tangible book value per diluted share adjusted for accumulated other comprehensive loss
$
43.02
$
42.94
$
42.47
$
42.33
$
42.36
Calculation of tangible common equity to total assets
Tangible common equity
$
127,777
$
127,159
$
134,957
$
123,681
$
126,275
Total assets
2,039,714
2,060,699
2,074,662
2,077,067
2,071,782
Tangible common equity to total assets
6.26%
6.17%
6.51%
5.95%
6.09%
Calculation of tangible common equity to total assets adjusted for accumulated other comprehensive loss
Tangible common equity adjusted for accumulated other comprehensive loss
$
186,021
$
185,243
$
183,198
$
182,620
$
182,588
Total assets
2,039,714
2,060,699
2,074,662
2,077,067
2,071,782
Tangible common equity to total assets adjusted for accumulated other comprehensive loss
It’s May! Where did the year go? It must be all the amazing TV we’re watching that’s making the time whiz by. This month’s lineup of expert picks is packed with standout shows across all genres.
Whether you’re in the mood for laugh-out-loud comedies, powerful historical fiction, or sci-fi that will leave your brain rattling for days, there’s something binge-worthy waiting for you.
MobLand
Paramount+
Lately, I’ve found myself counting down the days each week for a new episode of MobLand to drop on Paramount+ on Sunday afternoon. The crime series is executive produced (and the first two episodes directed) by Guy Ritchie, and stars Tom Hardy, Pierce Brosnan and Helen Mirren – along with a heavyweight supporting cast – in a story about two rival mob families in London.
When tensions escalate after a night out, Hardy’s “fixer” character, Harry, works to keep the peace between the Harrigans and the Stevensons – be it with a quiet word or brutal force.
MobLand is as twisty, gruesome and fun as we’ve come to expect from Ritchie’s popular gangster titles. But while others have been regularly criticised for their lack or limited portrayal of female characters, MobLand benefits from the scheming and swearing of the inimitable Helen Mirren as matriarch Maeve Harrigan, and the quiet fury of Joanne Froggatt as Harry’s wife, Jan, as she tries to force the enforcer into marriage counselling.
The series has been a huge success for Paramount+ in Australia – becoming the largest launch in the platform’s history. And while some may find the weekly episode drop frustrating, for me it adds to the suspense.
– Alexa Scarlata
The Residence
Netflix
Faced with Donald Trump, show makers turn to alternative visions of leadership. The latest: a gay president, who is only a bit of a player, in a ridiculously entertaining picture of a crime within the White House.
At a US state dinner for visiting Australian Prime Minister Stephen Roos (Julian McMahon), the dead body of the chief usher is discovered, and the world’s greatest detective, Cordelia Cupp (Uzo Aduba), is called in. Not only is Cupp an avid bird-watcher, she is also an Agatha Christie devotee who likes to assemble all her suspects for a prolonged denouement.
The Residence is full of oblique references to current US politics. One former senator, Al Franken, plays a fictional senator named Aaron Filkins. And Tripp Morgan (Jason Lee), US President Perry Morgan’s odious brother, has several real-life precursors.
The series is also a guide to the White House itself, complete with the sort of lavish detail we’d expect from Shondaland productions. And it’s nice to see Netflix acknowledging Australians. Even if they couldn’t persuade Hugh Jackman to actually show up, there’s plenty of other home-grown talent – including cameos by Kylie Minogue.
– Dennis Altman
Last One Laughing UK
Prime Video
Last One Laughing is a battle royale for stand-ups. Ten comedians, one room, surrounded by cameras. Laugh once and they’re warned. Laugh again, and they’re out. Last comic left wins.
An international TV phenomenon in 29 countries, the latest season is from the United Kingdom, hosted by Jimmy Carr and featuring comedians like Bob Mortimer, Sara Pascoe and Joe Lycett.
Comedy takes time, but laughter can take less than a moment. Richard Ayoade nearly catches out two players when, asked what his childhood hobbies were, he replies: “I don’t know. I cried a lot?”
Last One Laughing doubles our laughs. We watch the actual joke, we get it, we laugh. And then we see comedians desperately trying not to laugh – but we know that they get the joke too! And so we get an unexpected second look at the joke.
Last One Laughing helps us understand why we laugh at our own jokes, why we can’t always explain what’s funny, and why gags don’t need words. We’re watching professional comedians get the joke (as we do!) without laughing (as we expect?) but we know that it’s all OK. And, however briefly, we glimpse the world anew.
Based on a popular podcast by Molly Kochan and Nicki Boyer, Dying for Sex is a funny, raunchy, heartfelt exploration of pleasure and death.
When Molly (Michelle Williams) finds out her cancer is back and this time it is terminal, she seeks out sexual desire and satisfaction in unusual places, making profound discoveries along the way.
The show is rated R for good reason: the depiction of sexual acts is graphic, but not exploitative or voyeuristic. Rather it embraces the messiness of having a body that is dying but seeking joy.
While Molly’s sexual adventures feature heavily (and explicitly), the heart of the show is Molly’s friendship with Nicki (Jenny Slate), which feels achingly real. Molly and Nicki are long-term friends, as such they adore and encourage each other’s idiosyncrasies and perceived flaws.
Williams is luminous and well-matched with Slate, who brings a levity and longing to caring for her best friend and supporting her new goals. Despite its relatively short runtime of just eight 30 minute episodes, we are treated to nuanced renderings of Molly’s complex relationships with her mother (Sissy Spacek), husband (Jay Duplass) and neighbour (Rob Delaney).
Dying for Sex is infuriating and heartbreaking, as well as absurdly funny – kinda like death.
– Jessica Ford
Black Mirror, season seven
Netflix
The seventh season of Black Mirror is an ominous return to the dark world of modern technology. This season comprises six new episodes, two of which are sequels to episodes from previous seasons.
Common People is a powerful opening to the season, starring two of the most famous actors to appear throughout. Amanda (Rashida Jones) and Mike (Chris O’Dowd) are an ordinary suburban couple struck by tragedy in the form of a serious medical emergency – a narrative turn that is compounded by an unexpected departure from Jones and O’Dowd’s comedic reputations. The collapse of their life reaches greater and greater depths, before culminating in a horrifying final scene.
The other five episodes of the season are not as dismal. USS Callister: Into Infinity, in particular, provides some resolution that the earlier episode USS Callister had not. Plaything, the sequel to the interactive film Bandersnatch, echoes USS Callister’s interest in video gaming, but takes its invasion of human life to an even more powerful conclusion. Bête Noire similarly toys with the idea of mind control.
Hotel Reverie and Eulogy are quieter episodes, and not as overtly critical of technological advance as the others. Both are very moving, and like Common People, are interested in the lengths one might go to for the people they love.
Black Mirror’s seventh season is both a warning and a guide for how to be human – and how not to.
– Jessica Gildersleeve
The Wheel of Time, season three
Prime Video
The Wheel of Time is Prime’s most recent entry into the increasingly popular epic fantasy genre. Despite a lacklustre first two seasons, season three finally rewards fans for their patience.
Adapted from Robert Jordan’s sprawling 14-book series, the new season begins full throttle with a violent battle between the all-female One Power-wielding Aes Sedai. While some episodes lag due to overly complicated exposition and agonising character development (just embrace the wolf already, Perrin), for the most part showrunner Rafe Judkins maintains the propulsive momentum established in the spectacular opening.
Episode four, The Road to the Spear, is a standout sure to please die-hard Jordan fans and new audiences alike. Cinematic in scope, the episode faithfully recounts Rand (Josha Stradowski) and Moiraine’s (Rosamund Pike) journey to Rhuidean in the Aiel Waste where Rand is confirmed as the Dragon Reborn.
Pike continues to provide much-needed gravitas as the steely Moiraine and Stradowski is a revelation. It doesn’t hurt that the episode makes good use of its deliciously vampy leather-clad villain Lanfear (Natasha O’Keeffe).
No doubt references to Jordan’s expansive lore might continue to baffle some viewers. However, the sumptuous costumes, increasingly assured performances and modernised relationships suggest the series has finally found its footing.
Long may The Wheel of Time continue to turn.
– Rachel Williamson
The Narrow Road to the Deep North
Prime Video
The Narrow Road to the Deep North stands as some of the most visceral and moving television produced in Australia in recent memory, marking a new accessibility and confidence to director Justin Kurzel.
Dorrigo Evans (Jacob Elordi/Ciarán Hinds) is a doctor sent to World War II. Captured during the Battle of Java he is taken as a prisoner of war (POW), where he is forced to lead his Australian soldiers on the building of the Burma-Thailand Railway.
Rather than an executor of violence, he is a pacifist and victim. Ultimately he has to make peace with his own trauma and guilt of survival when many around him perished – some of whom he knowingly sent to their inevitable death to ensure his own survival.
Faithfully adapted from Richard Flanagan’s novel in a screenplay by Shaun Grant, this production effectively creates interchanging timelines (seamlessly edited by Alexandre de Francesch) including prewar, war and postwar, and then flashes forward to Dorrigo in his mid-70s.
Structurally immaculate, The Narrow Road to the Deep North is not defined by its brutal torture of the POWs or comradeship of the starving soldiers (though they are powerful to watch). Instead, it points us towards the quieter visions of characters having to sit alone with their distorted memories.
Andor returns for a second season, as we follow the early days of the Rebel Alliance leading up to events in Rogue One.
One year after the events of season one, we open with Cassian (Diego Luna) impersonating an Imperial test pilot so he can steal a prototype Imperial ship. After stealing the ship, he must navigate a ragtag brigade whose infighting becomes violent.
Elsewhere on planet Mina-Rau, Bix (Adria Arjona) and other undocumented farm workers await Cassian’s arrival with the ship. Over on Chandrila, Imperial Senator Mon (Genevieve O’Reilly) navigates the diplomacy of her daughter’s wedding while continuing to discreetly support the rebellion.
The most chilling scenes in the opening episodes are perhaps those that show Imperial supervisor Dedra Meero (Denise Gough) attend a top-secret meeting where they strategise how best to cleanse the population of Gorman so they can mine a rare mineral.
As film academic Daniel Golding notes in an article about how Andor takes on the era of Trump 2.0, showrunner Tony Gilroy takes inspiration from several real world revolutionary events. Given Russia’s invasion of Ukraine, Israel’s assault on Gaza and Trump’s increasing authoritarianism, it will be interesting to see how the revolution in this season continues to reflect real-world precarity.
I recommend refreshing your memory of season one before diving in, as the new season’s complexity relies on considerable assumed knowledge.
– Stuart Richards
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Is a “side hustle” really the only thing separating you from the life you desire? Listening to some influencers on social media could certainly have you thinking so.
Side hustles encompass a range of self-directed entrepreneurial activities undertaken while also working a job. For young people with limited access to capital, they’re the most accessible opportunity to engage in entrepreneurship.
Yet, we still know very little about who takes them on and why, and what kind of impact they have on working life in economies like Australia.
In our first year of data collection, we surveyed 1,497 side hustlers aged 18-34 and interviewed a further 68. Our findings raise questions about the merits of entrepreneurship as a solution to youth unemployment or a pathway to financial freedom.
What makes a side hustle?
To be included in our project, a young person had to be employed, but also carrying out some form of entrepreneurship.
We defined entrepreneurship as self-directed economic activity, where the side hustler has some measure of control over when they work, who they work for and what they charge.
The most popular side hustle among participants was selling goods (42.9%). Others included:
services such as gardening, dog-walking or moving furniture (29.2%)
creating media content (16.5%)
creative work such as graphic design or photography (11.3%).
Side hustling could include some “gig work” through online platforms, but only when these platforms allow workers to negotiate prices with clients and make choices about their work. As such, we excluded rideshare and food delivery drivers from the project.
While some people may assume that young people start a side hustle out of financial stress, we found side hustlers are actually a relatively privileged cohort.
They are a well-educated group. Almost two-thirds of our sample had university degrees and many of the remainder were studying. They also generally report their financial wellbeing as comfortable.
Why is this? Side hustles often don’t make much money, cost money to set up, and carry risk – all of the hallmarks of entrepreneurship.
Median hourly earnings from their side hustles are less than what they would make working in retail or hospitality, and on average they are about 50% what they make in their main job.
As one e-commerce side-hustler put it:
If I really put my time and energy into the consideration, I would say we’re not making much money at all […] It’s just something I enjoy doing in my free time.
Their side-hustle earnings are also uncertain: 65% say they are unsure what their earnings will look like in three months.
In other words, you need to be financially secure already to even contemplate a side hustle.
Passion over pay
Side hustles don’t make enough to help someone who is really financially struggling, and they are unlikely to be a pathway out of the employment “rat race”.
Despite this, our participants are overwhelmingly satisfied with their side hustles and say they have good work-life balance. So what motivates them?
Side hustlers often earned less than they would taking on a second job. BAZA Production/
The top motivation reported in our study is passion and enjoyment. Side hustlers say they want work that relates to their interests and enjoy the autonomy and flexibility that a side hustle allows.
Even though side hustles are often less profitable than a second job, the second-highest motivation was still money.
That’s likely because they offer a way of making some supplementary income in a way that is flexible and autonomous.
They’re often a source of “play money”. One 33-year-old man with an e-commerce side hustle told us:
If I was to pick up a second job, like […] Uber driving at night time, I won’t be happy, I’ll be tired, I’ll be stressed out trying to do that
Whereas, I think because I’ve got the passion for it here, I’m happy to do it because, like I said, I’m doing it at my own pace.
Pressure to be productive
Our research suggests that rather than being a pathway out of unemployment, side hustles actually represent a broader social and economic trend: more and more of young people’s lives are being encompassed by work.
Interviewees frequently talked about feeling like they needed to make their time outside of work productive in some way. For some, it was as though they could not justify leisure time unless it was financially profitable.
One participant told us:
You obviously want to enjoy life and have a bit of a chill time, but some days you just go like, “What am I doing? Just sitting at home and just relaxing watching Netflix or whatever. I should probably be out there making more money”.
Blurring work life boundaries?
Most participants were also not very concerned about growing their side hustles into businesses.
Instead, they aspired for balanced working lives with a side hustle offering passion, flexibility and autonomous work, and paid employment supporting them financially and offering the option of a traditional career.
They also did not necessarily see the time spent on their side hustles as work, being much more personally invested and self-directed in their side hustles than in their paid jobs.
But this means that much of their “leisure” time looks very much like work, and more and more of their lives are dedicated to being productive.
David Farrugia receives funding from the Australian Research Council.
Brendan Churchill receives funding from the Australian Research Council.
Kim Allen receives funding from the ESRC
Stephanie Patouras does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
