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Category: Banking

  • MIL-OSI: Fidelity D & D Bancorp, Inc. Third Quarter 2025 Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUNMORE, Pa., July 16, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC), parent company of The Fidelity Deposit and Discount Bank, announce their declaration of the Company’s third quarter dividend of $0.40 per share. The dividend is payable September 10, 2025, to shareholders of record at the close of business on August 15, 2025.

    Fidelity D & D Bancorp, Inc., serves Lackawanna, Luzerne, Northampton and Lehigh Counties through The Fidelity Deposit and Discount Bank’s 21 full-service community banking offices, along with the Fidelity Bank Wealth Management Minersville Office in Schuylkill County. Fidelity Bank provides a digital and virtual experience via digital services and digital account opening through Online Banking and the Fidelity Mobile Banking app.

    For more information visit our investor relations web site through www.bankatfidelity.com.

    This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include the possibility that increased demand or prices for the company’s financial services and products may not occur, changing economic, interest rate and competitive conditions, technological developments and other risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission.
    Contacts:  
    Daniel J. Santaniello  Salvatore R. DeFrancesco, Jr.
    President and Chief Executive Officer Treasurer and Chief Financial Officer
    570-504-8035 570-504-8000

    The MIL Network –

  • MIL-OSI Economics: Staff Guidance Note on The Implementation of The IMF Strategy for Fragile and Conflict-Affected States (FCS)

    Source: International Monetary Fund

    Preview Citation

    Format: Chicago

    Staff Guidance Note on The Implementation of The IMF Strategy for Fragile and Conflict-Affected States (FCS), (USA: International Monetary Fund, 2023) accessed July 16, 2025

    Summary

    This note provides operational advice and information to help staff implement the IMF Strategy for Fragile and Conflict-Affected States (FCS) approved by the Executive Board on March 9, 2022. Topics covered include (i) the new IMF FCS classification methodology, which is aligned with that of the World Bank; (ii) the preparation of Country Engagement Strategies (CES) that will be rolled out across FCS to ensure that Fund engagement is appropriately tailored to country-specific manifestations of fragility and/or conflict; (iii) advice on tailoring the thematic focus of Article IV consultations and Fund analytics to FCS, as well as on the prioritization, design, and implementation of capacity development (CD) projects in fragile contexts; (iv) guidance on making full use of the flexibilities of the lending toolkit; (v) guidance on engaging in specific FCS situations, including building accountable institutions to exit fragility, cases of rising fragility risks, active conflict, post-conflict, and addressing the impact of external shocks and spillovers; and (v) strengthening partnerships with humanitarian, development, and peace actors, in accordance with the Fund’s mandate. Dedicated annexes provide additional information on the CES process, addressing good governance in FCS, program design, and country examples of Fund engagement in FCS.

    Subject: Monetary policy, Political economy

    Keywords: Absorptive capacity, Balance of payments, Capacity development, Conflict, Country engagement strategies, Fragile and conflict-affected states, Fragility, Governance, Inclusive growth, Macroeconomic policy, Partnerships, Political economy, Surveillance

    MIL OSI Economics –

  • MIL-OSI USA: Heinrich, Luján Demand Answers on Trump Admin Re-Adding Medical Debt onto Credit Reports

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján

    Washington, D.C. — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.) joined Senator Reverend Raphael Warnock (D-Ga.), Banking Committee Ranking Member Elizabeth Warren (D- Mass.), Senate Minority Leader Chuck Schumer (D-N.Y.), Jeff Merkley (D-Ore.) and 24 other Senators in pushing the Trump administration for answers regarding the Consumer Financial Protection Bureau’s (CFPB) decision to vacate the medical debt rule finalized in January 2025. The letter demands CFPB share any data the agency relied on in deciding to petition a court to vacate the rule and any communications it had with entities during the process that would profit from its decision.

    “On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with collection agencies that stand to profit from it,” the Senators said.

    “Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts…Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care,” they continued.

    At the conclusion of the letter, the Senators emphasize the need for transparency into the agency’s decision-making process.

    “On April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it – lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry,” the Senators closed.

    Senator Luján has long worked to support Americans facing medical debt. In March 2024, Senator Luján called on CFPB Director Rohit Chopra to eliminate reporting of all medical debt in consumers’ credit reports. In November 2024, Senator Lujánintroduced the Medical Bankruptcy Fairness Act to ease the burden on Americans forced into bankruptcy because of unforeseen medical expenses. Senator Luján continues to stand up in defense of New Mexicans by holding the CFPB under President Trump accountable.

    In addition to Senators Heinrich, Lujan, Warnock, Warren, Schumer, and Merkley, the letter was signed by U.S. Senators Amy Klobuchar (D-MN), Adam Schiff (D-CA), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Tammy Duckworth (D-IL), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Bernie Sanders (I-VT), Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Jack Reed (D-RI), Richard Blumenthal (D-CT), Sheldon Whitehouse (D-RI), Angus King (I-ME), Chris Van Hollen (D-MD), Peter Welch (D-VT), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).

    Read the full letter HERE, and the text is below

    Dear Acting Director Vought,

    On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with debt collection agencies that stand to profit from it.

    Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts. One major credit scoring company, VantageScore, has stopped using medical debt in its newer models entirely. Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care. People often receive collection notices for debts they did not owe, in the wrong amount, or that should have been covered by insurance—but still end up experiencing long-lasting damage to their credit scores.

    Listing medical debt on a person’s credit report drives down their credit score, which hurts their ability to purchase a car, buy a home or rent an apartment, get utility service, start a business, or access other banking services. This has profound effects on families that can last generations. To make matters worse, medical debt is the most common reason debt collectors contact consumers; the debt collection industry makes one-fourth of its annual revenue from health care debt. Including medical debt on credit reports makes consumers more vulnerable to predatory debt collection practices.

    Medical debt on credit reports also blocks working families from access to credit that they would be able to repay.The CFPB found that people who had all their medical debts completely removed from their credit reports experienced an average credit score increase of 20 points, in some cases elevating families into a higher credit score tier.

    In response to growing data that medical debt is not a good indicator of creditworthiness, states across the country have acted to ban the inclusion of medical debt on credit reports. And on January 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule to remove medical debt from consumer credit reports. The rule would remove an estimated $49 billion in medical bills from the credit reports of 15 million Americans, prohibit credit reporting companies from sharing medical debt information with lenders, and bar lenders from considering medical debt in underwriting decisions. It was designed to help the millions of Americans who are struggling to make ends meet, by lowering costs and increasing access to affordable credit for working families without affecting the predictive value of their credit reports. The rule would also help reduce the effects of structural racism and other prejudices. People of color are disproportionately harmed by the inclusion of medical debt on credit reports. Meanwhile, adults with a disability and new moms are more than twice as likely to carry medical debt.

    Despite the critical importance of the medical debt rule, on April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it—lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry, by July 28, 2025. We specifically request that CFPB publicly publish all data about how medical debt relates to key economic indicators, including:

    • Barriers to home and car ownership, including challenges getting loans or not being approved to rent or lease,
    • Paying higher premiums for auto, homeowner’s and other types of insurance,
    • Losing job opportunities as a result of credit reporting on background checks,
    • Obstacles to starting small businesses because of challenges with securing loans,
    • Paying more for everyday services such as household utilities or cell phone contracts

    We are particularly concerned about the outsize impact that medical debt has on the credit scores of seniors, veterans, new parents, people with disabilities, cancer patients and survivors, and small business owners.

    Thank you for your attention to this matter.

    MIL OSI USA News –

  • MIL-OSI Submissions: Muhammadu Buhari: Nigeria’s military leader turned democratic president leaves a mixed legacy

    Source: The Conversation – Global Perspectives – By Kester Onor, Senior Research Fellow, Nigerian Institute of International Affairs

    Nigeria’s former president, Muhammadu Buhari, who died in London on 13 July aged 82, was one of two former military heads of state who were later elected as civilian presidents. Buhari was the military head of state of Nigeria from 31 December 1983 to 27 August 1985 and president from 2015 to 2023.

    The other Nigerian politician to have been in both roles is former president Olusegun Obasanjo . He was a military ruler between 1976 and 1979 and elected president between 1999 and 2007.

    Buhari led Nigeria cumulatively for nearly a decade. His time as military head of state was marked with a war against corruption but he couldn’t do as much during his time as president under democratic rule.

    As a political scientist who once served in the Nigerian Army, I believe that former president Buhari’s government’s war on terrorism was largely underwhelming, despite promises and early gains.

    In his elected role, Buhari maintained a modest personal lifestyle and upheld electoral transitions. Nevertheless his presidency was marred by economic mismanagement, a failure to implement bold structural reforms, ethnic favouritism, and an unfulfilled promise of change.

    He did leave tangible infrastructural footprints, a focus on agriculture, and foundational efforts in transparency and anti-corruption.

    So his mark on Nigeria’s development trajectory was mixed.

    Early years

    Buhari was born on 17 December 1942, to Adamu and Zulaiha Buhari in Daura, Katsina State, north-west Nigeria. He was four years old when his father died. He attended Quranic school in Katsina. He was a Fulani, one of the major ethnic nationalities in Nigeria.

    After completing his schooling, Buhari joined the army in 1961. He had military training in the UK, India and the United States as well as Nigeria.

    In 1975 he was appointed military governor of North Eastern State (now Borno State), after being involved in ousting Yakubu Gowon in a coup that same year. He served as governor for a year.

    Buhari later became federal commissioner for petroleum resources, overseeing Nigeria’s petroleum industry under Obasanjo. Obasanjo had become head of state in 1976 when Gowon’s successor, Murtala Muhammed, was assassinated in a failed coup that year.

    In September 1979, he returned to regular army duties and commanded the 3rd Armoured division based in Jos, Plateau State, north central. Nigeria’s Second Republic commenced that year after the election of Shehu Shagari as president.

    The coup that truncated the Shagari government on 31 December 1983 saw the emergence of Buhari as Nigeria’s head of state.

    Buhari’s junta years

    Buhari headed the military government for just under two years. He was ousted in another coup on 27 August 1985.

    While at the helm he vowed that the government would not tolerate kick-backs, inflation of contracts and over-invoicing of imports. Nor would it condone forgery, fraud, embezzlement, misuse and abuse of office and illegal dealings in foreign exchange and smuggling.

    Eighteen state governors were tried by military tribunals. Some of the accused received lengthy prison sentences, while others were acquitted or had their sentences commuted.

    His government also enacted the notorious Decree 4 under which two journalists, Nduka Irabor and Dele Thompson, were jailed. The charges stemmed from three articles published on the reorganisation of Nigeria’s diplomatic service.

    Buhari also instituted austerity measures and started a “War Against Indiscipline” which sought to promote positive values in the country. Authoritarian methods were sometimes used in its implementation. Soldiers forced Nigerians to queue, to be punctual and to obey traffic laws.

    He also instituted restrictions on press and political freedoms. Labour unions were not spared either. Mass retrenchment of Nigerians in the public service was carried out with impunity.

    While citizens initially welcomed some of these measures, growing discontent on the economic front made things tougher for the regime.



    Read more:
    Why Buhari won even though he had little to show for first term

    Buhari, the democrat

    Buhari’s dream to lead Nigeria again through the ballot box failed in 2003, 2007 and 2011. To his credit, he didn’t give up. An alliance of opposition parties succeeded in getting him elected in 2015.

    The legacy he left is mixed.

    Buhari’s government deepened national disunity.

    His appointments, often skewed in favour of the northern region and his Fulani kinsmen, fuelled accusations of tribalism and marginalisation. His perceived affinity with Fulani herdsmen, despite widespread violence linked to some of them, further eroded public trust in his leadership.

    His anti-corruption mantra largely did not succeed. While some high-profile recoveries were made, critics argue that his anti-corruption war was selective and heavily politicised.

    Currently, his Central Bank governor is on trial for corruption charges.

    The performance of the economy was also dismal under his tenure. Not all these problems could be laid at his feet. Nevertheless his inability to tackle the country’s underlying problems, such as insecurity, inflation and rising unemployment, all contributed. He presided over two recessions, rising unemployment, inflation, and a weakened naira.

    He did, however, succeed on some fronts.

    He tried with infrastructure. The Lagos-Ibadan expressway, a major road, was almost completed and he got the railways working again, completing the Abuja-Kaduna and Lagos-Ibadan lines. He also completed the Second Niger Bridge.

    There was an airport revitalisation programme which led to improvements in Lagos, Abuja and Port Harcourt airports.

    Buhari signed the Petroleum Industry Act after nearly 20 years’ delay. This is now attracting more investments into the oil industry.

    He also initiated some social investment schemes like N-Power, N-Teach and a school feeding programme. They provided temporary jobs for some and gave some poor people more money in their pockets. N-Power is a youth empowerment programme designed to combat unemployment, improve social development and provide people with relevant skills.

    These programmes later became mired in corruption which only became known after he left office.

    There was also an Anchor Borrowers Scheme to make the country more sufficient in rice production. Again, it got enmeshed in corruption and some of its officials are currently standing trial.

    In the fight against corruption, the Buhari administration made some progress through the Treasury Single Account, which improved financial transparency in public institutions. The Whistle Blower Policy also led to the recovery of looted funds.



    Read more:
    Why Buhari’s government is losing the anti-corruption war

    Security failures

    Buhari oversaw a deterioration of Nigeria’s security landscape. Banditry, farmer-herder clashes, kidnapping and separatist agitations escalated.

    In 2015 Buhari campaigned on a promise to defeat Boko Haram and restore territorial integrity in the north-east. Initially, his administration made some progress. Boko Haram was driven out of several local government areas it once controlled, and major military operations such as Operation Lafiya Dole were launched to reclaim territory.

    However, these initial successes were not sustained. Boko Haram splintered, giving rise to more brutal factions like the Islamic State West Africa Province. This group continued to launch deadly attacks.

    Buhari’s counter-terrorism strategy was often reactive, lacking a clear long-term doctrine. The military was overstretched and under-equipped. Morale issues and allegations of corruption in the defence sector undermined operations.

    Intelligence coordination remained poor, while civil-military relations suffered due to frequent human rights abuses by security forces. Community trust in the government’s ability to provide security dwindled.

    Buhari’s second coming as Nigeria’s leader carried high expectations, but he under-delivered.

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

    – ref. Muhammadu Buhari: Nigeria’s military leader turned democratic president leaves a mixed legacy – https://theconversation.com/muhammadu-buhari-nigerias-military-leader-turned-democratic-president-leaves-a-mixed-legacy-261079

    MIL OSI –

  • MIL-OSI Analysis: Sudan’s war is an economic disaster: here’s how bad it could get

    Source: The Conversation – Africa (2) – By Khalid Siddig, Senior Research Fellow and Program Leader for the Sudan Strategy Support Program, International Food Policy Research Institute (IFPRI)

    Since April 2023, Sudan has been engulfed in a devastating war between the Sudanese Armed Forces and the Rapid Support Forces. What began as a struggle for power has turned into a national catastrophe. More than 14 million people have been displaced. Health and education systems have collapsed and food insecurity threatens over half the population of about 50 million.

    The war has disrupted key sectors, triggering severe economic contractions, and worsening poverty and unemployment levels.

    Sudan’s finance minister reported in November 2023 that the war had resulted in economic losses exceeding US$26 billion – or more than half the value of the country’s economy a year earlier. The industrial sector, which includes manufacturing and oil refining, has lost over 50% of its value. Employment has fallen by 4.6 million jobs over the period of the conflict. More than 7 million more people have been pushed into poverty. The agrifood system alone has shrunk by 33.6%. These estimates exclude informal economy losses.

    My research applies economy-wide models to understand how conflict affects national development. In a recent study, my colleagues and I used this approach to answer the question: what will happen to Sudan’s economy and poverty levels if the war continues through 2025?

    To assess the economic impact of the conflict, we used a Social Accounting Matrix multiplier model. This is a tool that captures how shocks affect different sectors and other agents of the economy, such as firms, government and households.

    Based on our modelling, the answer is devastating: the conflict could shrink the size of Sudan’s economy by over 40% from 2022 levels, plunging millions more into poverty.

    We modelled two scenarios to capture the potential trajectories of Sudan’s economy.

    The extreme scenario assumes a sharp initial collapse, with a 29.5% contraction in the size of the economy in 2023 and 12.2% in 2024, followed by a 7% decline in 2025, reflecting some stabilisation over time.

    The moderate scenario, based on World Bank projections, applies a 20.1% contraction in 2023 and a 15.1% drop in 2024, also followed by a 7% reduction in 2025, indicating a slower but more prolonged deterioration.

    We estimated the annual figures and report only the aggregate impacts through 2025 for clarity.

    We found that if the conflict endures, the value of Sudan’s economy will contract by up to 42% from US$56.3 billion in 2022 (pre-conflict) to US$32.4 billion by the end of 2025. The backbone of livelihoods – agriculture – will be crippled. And the social fabric of the country will continue to fray.

    How we did it

    Our Social Accounting Matrix multiplier model used data from various national and international sources to show the impact of conflict on the value of the economy, its sectors and household welfare.

    We connected this to government and World Bank data to reflect Sudan’s current conditions.

    This allowed us to simulate how conflict-driven disruptions affect the value of the economy, its sectors and household welfare.

    What we found

    Under the extreme scenario, we found:

    • Gross domestic product collapse: Gross domestic product (GDP) measures the total value of all goods and services produced in a country within a year. It’s a key indicator of economic health. We found that the value of Sudan’s economy could contract by up to 42%. This means the country would be producing less than 60% of what it did before the conflict. This would affect incomes, jobs, government revenues and public services. The industrial sector – heavily concentrated in Khartoum – would be hardest hit, with output shrinking by over 50%. The value of services like education, health, transport and trade would fall by 40%, and agriculture by more than 35%.

    • Job losses: nearly 4.6 million jobs – about half of all employment – could disappear. Urban areas and non-farm sectors would be worst affected, with over 700,000 farming jobs at risk.

    • Incomes plummet: household incomes would decline across all groups – rich and poor, rural and urban – by up to 42%. Rural and less-educated households suffer the most.

    • Poverty spikes: up to 7.5 million more people could fall into poverty, adding to the 61.1% poverty level in 2022. In rural areas, the poverty rate could jump by 32.5 percentage points from the already high rural poverty rate pre-conflict (67.6% of the rural population). Women, especially in rural communities, are hit particularly hard. Urban poverty, which was at 48.8% pre-conflict, increases by 11.6 percentage points.

    • The agrifood system – which includes farming, food processing, trade and food services – would lose a third of its value under the extreme scenario.

    Why these findings matter

    Sudan was already in a fragile state before the war. It was reeling from decades of underinvestment, international sanctions and institutional breakdown.

    The war has reversed hard-won gains in poverty reduction. It is also dismantling key productive sectors – from agriculture to manufacturing – which will be essential for recovery once the conflict ends. Every month of continued fighting adds to the damage and raises the cost of rebuilding.

    Our projections already show major economic collapse, yet they don’t include the full extent of the damage. This includes losses in the informal economy or the strain on household coping strategies. The real situation could be even worse than what the data suggests.

    What needs to be done

    First and foremost, peace is essential. Without an end to the fighting, recovery will be impossible.

    Second, even as conflict continues, urgent action is needed to stabilise livelihoods. This means:

    • supporting agriculture in areas that remain relatively safe. Food production must be sustained to prevent famine.

    • restoring critical services where possible – particularly transport, trade and retail – to keep local economies functioning

    • protecting the most vulnerable, such as women in rural areas and the elderly, through expanded social protection and targeted cash assistance.

    Third, prepare for recovery. The international community – donors, development banks and NGOs – must begin laying the groundwork for post-conflict reconstruction now. This includes investment in public infrastructure, rebuilding institutions and re-integrating displaced populations.

    The bottom line

    Sudan’s war is more than a political crisis. It is an economic catastrophe unfolding in real time. One that is deepening poverty, destroying livelihoods and erasing years of progress.

    Our research provides hard numbers to describe what Sudanese families are already experiencing every day.

    The country’s economy is bleeding. Without a shift in the trajectory of the conflict, recovery could take decades – if it happens at all.

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

    – ref. Sudan’s war is an economic disaster: here’s how bad it could get – https://theconversation.com/sudans-war-is-an-economic-disaster-heres-how-bad-it-could-get-260609

    MIL OSI Analysis –

  • MIL-OSI USA: Ranking Member Frankel Statement at the Subcommittee Markup of the 2026 State, Foreign Operations, and Related Programs Funding Bill

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Congresswoman Lois Frankel (D-FL-22), Ranking Member of the State, Foreign Operations, and Related Programs Subcommittee, delivered the following remarks at the Subcommittee’s markup of the fiscal year 2026 State, Foreign Operations, and Related Programs funding bill:

    -As Prepared For Delivery-

    Thank you, Mr. Chairman.

    Let me start by recognizing the collegiality of Chairman Diaz-Balart and the thoughtful members on both sides of the aisle. I also want to thank the dedicated committee staff—and my own team—for their hard work and guidance. But above all, I want to express my deep gratitude to the public servants who bring American values to life around the world—diplomats, development professionals, and humanitarian workers. They serve and served in some of the most dangerous and difficult places on earth. Many have recently been forced out of their jobs, dismissed without cause or ceremony. To those who’ve served and those still standing: You are patriots. You represent the best of who we are. And we owe you more than thanks—we owe you the tools to do your job.

    With the right allocation and a White House that actually valued diplomacy, development, and humanitarianism, I believe we could have crafted a strong, bipartisan measure worthy of our nation’s leadership.

    Instead, I rise in fierce opposition to the Republican FY26 State, Foreign Operations, and Related Programs bill—a reckless, shortsighted blueprint for American retreat.

    It follows a deeply troubling pattern. The White House has illegally impounded foreign aid, dismantled USAID, gutted the State Department—all without input from Congress. More than ten thousand USAID staff were dismissed. Over 5,000 aid programs have been axed. Just last week, 1,300 State Department employees were let go. Entire offices eliminated.

    And all of this in the middle of a global convergence of crises: armed conflicts, climate disasters, health emergencies, famine, mass migration, and rising authoritarianism.

    This is not theoretical. These crises are slamming into us. When fragile states collapse, migration surges. When we cancel trade support, American farmers and manufacturers lose customers. When we fail to build climate resilience, homes and crops are washed away. When global health systems fail, disease reaches our shores. And when the U.S. pulls back, China and Russia are right there to take our place.

    Worse still, our closest allies—pressured to increase military spending—are also cutting their foreign aid. So as global needs explode, the soft power of democratic nations is vanishing. And the vacuum left behind? It’s being filled by regimes that don’t share our values—or our interests.

    This bill slashes international affairs funding by 22 percent—$13 billion in deep, devastating cuts.

    It guts development and economic support: children pulled from classrooms and left without clean water; farmers cut off from tools that feed communities; young entrepreneurs abandoned, fueling extremism and instability; conflict prevention programs eliminated—so violence erupts unchecked; local organizations, our most trusted partners, shut down.

    It cuts humanitarian assistance by 42 percent. That’s not just unwise—it’s inhumane: women and girls in conflict zones left without care after suffering horrific sexual violence; refugees denied shelter, medicine, hope; food rations slashed below survival levels in places like Syria, Sudan, Bangladesh; and millions of children dying from malnutrition.

    This bill is cruel. It is cold. And it is not who we are.

    And of course, Republicans couldn’t resist another attack on women—reviving the Global Gag Rule, gutting funding for the UN Population Fund, and shortchanging family planning programs that save lives and lift up communities.

    This bill also abandons multilateral institutions like the United Nations and World Health Organization; it sidelines the U.S. from global decision-making; weakens our ability to promote peace and defend allies; forces partners into the arms of authoritarian regimes; and forfeits the power of burden-sharing through institutions like UNICEF, the World Bank, and the UN.

    It’s putting China in charge of the world.

    Let me be blunt: These cuts are not abstract. They are deadly.

    In Nigeria, malnourished infants are dying because therapeutic food deliveries have stopped. In Myanmar, hospitals are shutting their doors in the middle of conflict. In The Gambia, programs to support survivors of female genital mutilation have been halted just as the country debates re-legalizing the practice. In Ukraine, wounded soldiers are going without care. In Afghanistan, pregnant women are being turned away from clinics. In Ecuador, women entrepreneurs—stripped of support—are being pushed toward our border.

    This isn’t just a loss of aid. It’s a loss of American credibility. A loss of moral authority. A loss of global influence.

    And it will cost us dearly.

    Why should the American people care? Because when we fail to lead with compassion and common sense, the world becomes less stable, our troops face more danger, and we pay the price—again and again.

    When we cut aid, we increase the risk of war. When we defund development, we undercut diplomacy. And when we turn our back on the world, we endanger our own.

    I speak as the proud mother of a U.S. Marine veteran. I know what happens when diplomacy fails. When we fail to prevent conflict with education, aid, and engagement, the burden falls on the Pentagon—and on families whose loved ones serve our military.

    Let’s remember: The entire international affairs budget has typically been less than one percent of federal spending. But it delivers exponential returns for our safety, prosperity, and moral standing.

    These programs give youth an alternative to violence. They build markets for American goods. They prevent wars. They reduce migration pressures. They keep our troops home.

    This bill—sadly—is a missed opportunity. A failure to lead. A failure to invest in the power of peace, progress, and partnership.

    But let me end with this: Democrats are not giving up. We stand ready to work with our Republican colleagues—to fight for a bill that reflects our values, honors our commitments, and protects American lives.

    A sustained path to a safer, stronger, and more prosperous nation cannot be built on isolation and threats.

    Because we cannot bomb our way to peace. We cannot drone our way to stability. And we cannot retreat our way to safety.

    A strong America leads—not with fear, but with courage. 

    Not by pulling back, but by reaching out.

    And that’s the bill we should all fight for.

    Thank you. I yield back.

    MIL OSI USA News –

  • MIL-OSI Africa: Sudan’s war is an economic disaster: here’s how bad it could get

    Source: The Conversation – Africa – By Khalid Siddig, Senior Research Fellow and Program Leader for the Sudan Strategy Support Program, International Food Policy Research Institute (IFPRI)

    Since April 2023, Sudan has been engulfed in a devastating war between the Sudanese Armed Forces and the Rapid Support Forces. What began as a struggle for power has turned into a national catastrophe. More than 14 million people have been displaced. Health and education systems have collapsed and food insecurity threatens over half the population of about 50 million.

    The war has disrupted key sectors, triggering severe economic contractions, and worsening poverty and unemployment levels.

    Sudan’s finance minister reported in November 2023 that the war had resulted in economic losses exceeding US$26 billion – or more than half the value of the country’s economy a year earlier. The industrial sector, which includes manufacturing and oil refining, has lost over 50% of its value. Employment has fallen by 4.6 million jobs over the period of the conflict. More than 7 million more people have been pushed into poverty. The agrifood system alone has shrunk by 33.6%. These estimates exclude informal economy losses.

    My research applies economy-wide models to understand how conflict affects national development. In a recent study, my colleagues and I used this approach to answer the question: what will happen to Sudan’s economy and poverty levels if the war continues through 2025?

    To assess the economic impact of the conflict, we used a Social Accounting Matrix multiplier model. This is a tool that captures how shocks affect different sectors and other agents of the economy, such as firms, government and households.

    Based on our modelling, the answer is devastating: the conflict could shrink the size of Sudan’s economy by over 40% from 2022 levels, plunging millions more into poverty.

    We modelled two scenarios to capture the potential trajectories of Sudan’s economy.

    The extreme scenario assumes a sharp initial collapse, with a 29.5% contraction in the size of the economy in 2023 and 12.2% in 2024, followed by a 7% decline in 2025, reflecting some stabilisation over time.

    The moderate scenario, based on World Bank projections, applies a 20.1% contraction in 2023 and a 15.1% drop in 2024, also followed by a 7% reduction in 2025, indicating a slower but more prolonged deterioration.

    We estimated the annual figures and report only the aggregate impacts through 2025 for clarity.

    We found that if the conflict endures, the value of Sudan’s economy will contract by up to 42% from US$56.3 billion in 2022 (pre-conflict) to US$32.4 billion by the end of 2025. The backbone of livelihoods – agriculture – will be crippled. And the social fabric of the country will continue to fray.

    How we did it

    Our Social Accounting Matrix multiplier model used data from various national and international sources to show the impact of conflict on the value of the economy, its sectors and household welfare.

    We connected this to government and World Bank data to reflect Sudan’s current conditions.

    This allowed us to simulate how conflict-driven disruptions affect the value of the economy, its sectors and household welfare.

    What we found

    Under the extreme scenario, we found:

    • Gross domestic product collapse: Gross domestic product (GDP) measures the total value of all goods and services produced in a country within a year. It’s a key indicator of economic health. We found that the value of Sudan’s economy could contract by up to 42%. This means the country would be producing less than 60% of what it did before the conflict. This would affect incomes, jobs, government revenues and public services. The industrial sector – heavily concentrated in Khartoum – would be hardest hit, with output shrinking by over 50%. The value of services like education, health, transport and trade would fall by 40%, and agriculture by more than 35%.

    • Job losses: nearly 4.6 million jobs – about half of all employment – could disappear. Urban areas and non-farm sectors would be worst affected, with over 700,000 farming jobs at risk.

    • Incomes plummet: household incomes would decline across all groups – rich and poor, rural and urban – by up to 42%. Rural and less-educated households suffer the most.

    • Poverty spikes: up to 7.5 million more people could fall into poverty, adding to the 61.1% poverty level in 2022. In rural areas, the poverty rate could jump by 32.5 percentage points from the already high rural poverty rate pre-conflict (67.6% of the rural population). Women, especially in rural communities, are hit particularly hard. Urban poverty, which was at 48.8% pre-conflict, increases by 11.6 percentage points.

    • The agrifood system – which includes farming, food processing, trade and food services – would lose a third of its value under the extreme scenario.

    Why these findings matter

    Sudan was already in a fragile state before the war. It was reeling from decades of underinvestment, international sanctions and institutional breakdown.

    The war has reversed hard-won gains in poverty reduction. It is also dismantling key productive sectors – from agriculture to manufacturing – which will be essential for recovery once the conflict ends. Every month of continued fighting adds to the damage and raises the cost of rebuilding.

    Our projections already show major economic collapse, yet they don’t include the full extent of the damage. This includes losses in the informal economy or the strain on household coping strategies. The real situation could be even worse than what the data suggests.

    What needs to be done

    First and foremost, peace is essential. Without an end to the fighting, recovery will be impossible.

    Second, even as conflict continues, urgent action is needed to stabilise livelihoods. This means:

    • supporting agriculture in areas that remain relatively safe. Food production must be sustained to prevent famine.

    • restoring critical services where possible – particularly transport, trade and retail – to keep local economies functioning

    • protecting the most vulnerable, such as women in rural areas and the elderly, through expanded social protection and targeted cash assistance.

    Third, prepare for recovery. The international community – donors, development banks and NGOs – must begin laying the groundwork for post-conflict reconstruction now. This includes investment in public infrastructure, rebuilding institutions and re-integrating displaced populations.

    The bottom line

    Sudan’s war is more than a political crisis. It is an economic catastrophe unfolding in real time. One that is deepening poverty, destroying livelihoods and erasing years of progress.

    Our research provides hard numbers to describe what Sudanese families are already experiencing every day.

    The country’s economy is bleeding. Without a shift in the trajectory of the conflict, recovery could take decades – if it happens at all.

    – Sudan’s war is an economic disaster: here’s how bad it could get
    – https://theconversation.com/sudans-war-is-an-economic-disaster-heres-how-bad-it-could-get-260609

    MIL OSI Africa –

  • MIL-OSI United Kingdom: The Africa Debate: Foreign Secretary speech

    Source: United Kingdom – Executive Government & Departments

    Speech

    The Africa Debate: Foreign Secretary speech

    The Foreign Secretary gave a speech at The Africa Debate on 2 July 2025.

    Ladies and Gentleman, Friends.

    It’s a great, great pleasure to be here today. Thank you to Sumaila and the team behind the Africa Debate, for bringing us all together.

    This week, it’s 25 years since I was first elected the Member of Parliament for Tottenham and therefore began my journey in public life. So I want to start by looking back for just a moment in time.

    I was a Member of Parliament and then a Junior Minister in the governments of Tony Blair and Gordon Brown. And they were both very, very focused on Africa and the continent of Africa.

    However, when I look back on that period, it was most definitely  principally through the lens of development and aid. This was the era of the Jubilee debt campaign. It was absolutely the era of the Millennium Development Goals. Make Poverty History was the theme of the day and the G8 Summit in Gleneagles in 2005, implementing many of the recommendations of Blair’s Commission for Africa.

    These efforts left of course a legacy. In 2000, almost two-thirds of all sub-Saharan Africans lived on under three dollars a day, by 2010, when Gordon Brown left office, the figure was under half.

    But when I became Foreign Secretary last year, I wanted to modernise our approach to Africa, modernise our approach to development.

    I of course had been travelling to the continent for many, many years, the first country I ever visited was Kenya. But I’d seen the transformation of cities and communities, all brimming with huge potential.

    And I suppose I also benefited from my own heritage in the Global South. My parents hailed from Guyana. And so I understood some of the frustrations of countries and communities when it felt like the West was ignoring people or not listening to people, not understanding what they really needed.

    I wanted to change that. And to reset relations then with the Global South, and particularly with Africa. And to implement a new approach, partnership, not paternalism.

    Genuine partnership is, by definition, between two equals each respecting the other. So in this job, I have tried to show that respect. And in the past year, I have visited eight African countries. The first Foreign Secretary to visit South Africa or Morocco since William Hague. And the first Foreign Secretary ever to visit the great country of Chad.

    And on my first visit to the continent as Foreign Secretary, I launched consultations on our new Africa Approach. A five-month listening exercise, hearing from governments, from civil society and diaspora communities, from businesses and universities, from Cape Town to Cairo, from Dakar to Djibouti, what they valued, what they wanted to see from Britain.

    We needed to listen. And I thank you all for your engagement over the course of this process and for what you told us, what we needed to hear.

    The message actually didn’t surprise me. Because what African people want from Britain is exactly what British people want from Africa. You want, we want, growth.

    And not just any form of growth, a jump in numbers on a spreadsheet for a year or two.

    But a secure, sustainable growth for everyone, high-quality jobs, affordable prices, citizens living better lives than those of their ancestors.

    You want, we want, opportunity.

    Opportunity arising from our respective strengths, like the British education system, like of course the City of London, the incredible natural assets and energised young people across Africa, and our collective commitment to multilateralism.

    And you want, and we want partnerships. Partnerships that harness our deep historic ties, and the array of personal connections that exist between us.

    But partnerships that also continue to grow and deepen, as we both invest in them. That’s just a snapshot of a detailed piece of work.

    But of course, the work can only be beginning. The real test of our Africa Approach, and this was clear in the consultation as well, is how we put it into practice.

    Because talk is cheap. It’s actions in the end that count. I am excited by the deals driving growth that we have been delivering so far.

    A new Strategic Partnership with Nigeria, a new growth plan with South Africa, a new partnership with Morocco, joint work on a new AI strategy in Ghana, and new investments in Tanzania and of course in Kenya, announced in the first East Africa Trade and Investment Forum here in London in May.

    And thanks to our Developing Countries Trading Scheme, and free trade agreements with many African countries, almost £15 billion of goods were exported from Africa to Britain tariff-free last year.

    And following the publication of the British Government’s new Trade Strategy, we will further simplify the rules of the DCTS scheme which benefits thirty-eight African countries, and review our tariffs with South Africa, Egypt, Morocco and Tunisia.

    The Trade Strategy reinforces Britain’s belief in the power of free trade. And the largest free trade area in the world is Africa’s.

    And that’s why we back the rollout of the African Continent Free Trade Agreement, reducing barriers to intra-African trade through support in areas like digital trade and custom cooperation.

    And we will increase opportunities for British firms to play their part, just as it will increase prosperity in Africa. The British businesses and investors in this room have a big part to play. And I want our Ambassadors, our High Commissioners working closely with you, so that together, we can play a confident role in investing more, and supporting the growth of the African market.

    So, more trade, more investment, this is the best path to prosperity for all.

    And there is a role of course for development as well. But this has to be a modernised approach to development, recognising that fundamentally development is about growth, development is about jobs, development is about business.

    The modern development expert needs to have a mindset of an investor, not a donor. Looking for the best return, not offering the biggest handout.

    And it’s in that spirit that British International Investment recently signed an MoU with South Africa’s Public Investment Corporation, one of Africa’s largest asset managers.

    And this week agreed to support Wave Money Mobile, an exciting African fintech unicorn.

    And it’s also in that spirit that Britain is co-hosting the next Global Fund replenishment summit in South Africa.

    And just last week I made a £1.25 billion pledge to the recent Gavi replenishment in Brussels, the largest of any sovereign donor.

    That work will save lives – many, many millions. But it will also unlock economic value -every pound given to Gavi drives £54 in wider economic benefit.

    And, crucially, it unlocks value in Britain and Africa. Gavi works closely with cutting-edge British pharmaceutical firms like GSK. And it’s also designed the first African Vaccine Manufacturing Accelerator, which is using industry partnerships to deliver vaccines for Africa.

    Vaccines, and this is very important, because people talked about that during the COVID pandemic, they asked the question, why, why are we failing, the West failing to vaccinate the African continent, and that was an important question.

    But there was a second question – why has the African continent not got its own manufacturing capability, and that is what we now need to deliver in Africa.

    Working with partners like Nigeria, we are pushing for organisations like Gavi and the Global Fund to work together and reform, so that their work has national ownership at its heart.

    National ownership is similarly important when it comes to reforming wider international finance, especially for climate and nature.

    And thank you, President Ruto, for your leadership on the climate issue particularly. The theme of your conference is precisely the right framing, Africa has Natural Capital. But it cannot unlock this if we make it impossibly challenging for states to access the finance that they need.

    At the recent Development Finance Summit in Seville, we were again pushing for reforms of the multilateral development banks and the IMF. We have to mobilise private capital and use guarantees to unlock more funds.

    To empower regional development banks, like the African Development Bank, where developing countries have more of a voice. To tackle unsustainable debt. To work with the City to bring innovations like disaster risk insurance and strengthen local capital markets.

    One example of what this can mean comes from Sierra Leone, where I can announce £2 million pounds worth of British government investment to back a mangrove restoration project by West Africa Blue. The project protects over 90,000 hectares of mangrove estuaries, improving coastal and community resilience.

    But it is also demonstrating how this model can be commercially viable, unlocking future investment in similar projects in the future. And finally, alongside our work on trade, on investment and development finance, we have heard the clear message from the consultation on illicit finance as well.

    I know that this message is not new. For years, friends in Africa have been saying Britain needs to do more to tackle dirty money. Kleptocrats and money launderers rob all our citizens of wealth and security.

    And now, the Government is listening too. That’s why I’ve started imposing sanctions on crooks who siphon off public money for themselves, like Isabel dos Santos of Angola and Kamlesh Pattni’s illicit gold smuggling network.

    And that’s why I’ve also announced that London will be hosting a Countering Illicit Finance Summit, bringing together a broad range and a broad coalition from the Global North and the Global South, to drive these criminals out of our economies.

    Friends, I said the messages of our recent consultations were that Africa wanted more growth, Africa wanted more opportunities, Africa wanted more partnerships.

    In effect, Africa wants Britain to help them to have more choices. Choices over who to do business with, because it’s choices which matter in a volatile geopolitical age.

    Britain wants choices too. And I believe that, given the choice, more and more British businesses and investors will be choosing Africa in the coming years.

    But don’t take my word for it – let’s hear from an African voice. It’s my pleasure now to introduce to the stage a great partner of the UK, a global leader on climate and nature action, and our next keynote speaker, His Excellency, Dr William Ruto, President of the Republic of Kenya.

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Plans for 5,000 new homes in Stoke-on-Trent put forward to meet ‘urgent need’ for housing

    Source: City of Stoke-on-Trent

    Published: Wednesday, 16th July 2025

    Councillors are set to approve plans to deliver nearly 5,000 homes in the city in the next three years.

    Stoke-on-Trent City Council has devised a housing development pipeline to help meet the government’s national target of delivering 1.5 million new homes a year.

    The programme will see the authority work with Homes England, developers and landowners to deliver 4,857 houses across 23 sites in the city.

    The sites include completed and near-completed developments such as Goods Yard and Chatterley Court in Chell Heath as well as sites under development such as Scotia Road and Bournes Bank in Burslem, Booth Street in Stoke, the former Doris Robinson Court site in Meir and the former Brookhouse Primary School site in Wellfield Road, Bentilee.

    The number of applicants on the council’s housing register has been climbing over the last three years – it now stands at over 3,138 households, a 41 per cent increase in the last 12 months.

    Over half of those households (57 per cent) are in urgent and high need for accommodation.

    At the same time, the council’s housing stock has fallen by 2,550 homes (13 per cent) over the last 10 years.

    Almost 1,800 homes (37 per cent) included in the council’s housing pipeline project are expected to be affordable homes for people on the housing register.

    In addition to this, the council is proposing to deliver an Empty Homes programme of around 100 new homes per year.

    Councillor Chris Robinson, cabinet member for housing, planning, improvement and governance, said: “We need to create a healthier standard of living for all of our residents, improve the quality of our homes and give residents more choice.

    “We recognise that there is an urgent need to deliver new homes in the city to meet the increasing demand and, while it will be challenging, we are committed to working closely with our partners to increase the pace and scale of house-building across Stoke-on-Trent.

    “We need to act quickly and take action to ensure all our residents can access decent homes in a city where they can stay, grow and thrive – and watch their children do the same.”

    The housing pipeline programme will continue to develop over time with completed sites being replaced with new locations, however, planning status is not guaranteed for any of the pipeline sites and all will be considered through the usual planning processes.

    The council’s cabinet is being asked to approve the plans at their next meeting in July. To see the full report, visit: Agenda for Cabinet on Tuesday, 22 July 2025, 1.00 pm | Stoke on Trent City Council

    MIL OSI United Kingdom –

  • MIL-OSI: Greene County Bancorp, Inc. Announces Cash Dividend Increase

    Source: GlobeNewswire (MIL-OSI)

    CATSKILL, N.Y., July 16, 2025 (GLOBE NEWSWIRE) — Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.40 per share which represents an 11.1% increase from the previous annual cash dividend of $0.36 per share.

    The cash dividend for the quarter ended June 30, 2025, will be paid to shareholders of record as of August 15, 2025, and is expected to be paid on August 29, 2025.

    The Company is the majority-owned subsidiary of Greene County Bancorp, MHC (the “MHC”), a federal mutual holding company, which owns 54.1% of the Company’s outstanding common shares. The MHC is waiving its receipt of this dividend. The MHC received the nonobjection of the Federal Reserve Bank of Philadelphia to waive its right to receive dividends, aggregating up to $0.48 per share, paid by the Company during the four quarters ending with the quarters that end on December 31, 2024, March 31, 2025, June 30, 2025, and September 30, 2025.

    Greene County Bancorp, Inc. is the direct and indirect holding company for the Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York. Our primary market is the Hudson Valley Region and Capital District Region in New York State. For more information on Greene County Bancorp, Inc., visit www.tbogc.com.

    For Further Information Contact:
    Donald E. Gibson
    President and Chief Executive Officer
    (518) 943-2600
    donaldg@tbogc.com

    The MIL Network –

  • MIL-OSI Africa: The International Islamic Trade Finance Corporation (ITFC) Signs EUR 15 million Master Murabaha Agreement to Support Türkiye’s Private Sector

    Source: APO

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a EUR 15 million Master Murabaha Agreement with Ak Finansal Kiralama A.Ş. (Aklease), one of Türkiye’s leading leasing institutions and a subsidiary of AkBank.

    The two-year facility aims to expand access to Shariah-compliant trade finance solutions for Türkiye’s private sector, including small and medium-sized enterprises (SMEs), enabling the import and pre-export of essential goods and services. The partnership reflects ITFC’s ongoing commitment to supporting economic development across member countries.

    Commenting on this partnership, Mr. Nazeem Noordali, COO of ITFC, stated: “This agreement underscores our long-term commitment to supporting Türkiye’s private sector. By partnering with leading institutions such as Aklease, we are furthering ITFC’s mandate to promote trade and foster economic growth.”

    From his end, Mr. Eser Okyay, General Manager, AKLease, commented, “This partnership contributes to the development of innovative financing models in the leasing sector while also reinforcing our vision of providing resources for projects that prioritize sustainable development. This agreement, which marks ITFC’s first contract signed with ITFC in Türkiye’s leasing sector, brings a fresh perspective to the industry. We believe that this approach, which centers on sustainability, green financing, and accessibility for SMEs, offers a valuable alternative for the real sector.”

    This agreement is aligned with ITFC’s broader strategy in Türkiye, where the Corporation has committed significant resources to supporting the private sector through targeted trade finance and capacity-building initiatives.

    Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

    Contact us:
    Tel: +966 12 646 8337
    Fax: +966 12 637 1064
    E-mail: ITFC@itfc-idb.org

    Social media:
    Twitter: (http://apo-opa.co/3GMjN4q)
    Facebook: (http://apo-opa.co/3Uh0mno)
    LinkedIn: International Islamic Trade Finance Corporation (ITFC) (http://apo-opa.co/4lvMth5)

    About the International Trade Finance Corporation (ITFC):
    The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Banking: How marketers are using AI-driven digital twins to scale creative content faster, more efficiently

    Source: Microsoft

    Headline: How marketers are using AI-driven digital twins to scale creative content faster, more efficiently

    AI offers retail and consumer goods brands a wealth of solutions that transform creativity and reduce time and cost of resource-intensive tasks across the content supply chain. As witnessed at the Cannes Lions Festival of Creativity in June 2025, AI is the new “plus one” to marketing chiefs and agency leaders. However, the potential of AI unleashed new pressure to chief marketing officers to not only scale proof of concepts (POCs), but prove their value—all while keeping the marketing engine running at a breakneck pace.

    For consumer packaged goods (CPGs), delivering personalized content across channels requires multiple iterations of product images, constant reshoots, tweaks, packaging design adjustments, and localization by region. This can be all-consuming for creatives, who are rebuilding or recreating imagery constantly to meet the moment.

    Discover solutions with Microsoft Cloud for Retail

    Imagine if brands could leverage AI digital twins to create and integrate high-quality, personalized product content at scale—simply, cost-effectively, and in a fraction of the time. AI and 3D digital twins make it possible, proving AI investments deliver on reduced time and speed to innovation.

    In a recent post, we discussed how AI isn’t just a tool—it’s the foundation for building competitive advantage. Let’s walk through three strategic areas where digital twins offer exceptional outcomes for marketing teams looking to deliver more.

    1. Starting with product imagery

    According to EMARKETER, content creation will be the top budget priority AI use case for chief marketing officers worldwide. Why? Producing product images today requires brands to spend a massive chunk of their budget to constantly reshoot and edit images. With digital twins, brands have the flexibility and scalability at low cost to create thousands of variants on a single product image, including labels, packaging, and language formats—all within a single file.

    AI empowers not only productivity but creativity. Digital twins are hyper-realistic, enabling content managers to easily and endlessly modify or expand on a concept using a 3D product model with a few clicks. Creatives can reallocate time spent in operational “to do’s” to storytelling, strategy, and delivery by channel. Brands can even showcase products in both static and dynamic formats because AI models aren’t limited to one dimension.

    Net-net: Digital twins for product images, videos, and interactive experiences simplify content workflows and allow you to:

    • Generate endless product images or videos using a single digital twin.
    • Refresh imagery for markets or seasons without reshoots.
    • Reduce repetitive labor for creatives while shortening production timelines.
    • Test creative concepts instantly without adding costs.
    • Update visuals across brands seamlessly.

    Making it real: Nestlé reduces associated time and cost by 70% with scaling digital twins

    Recently, Nestlé—the world’s largest food and beverage company—collaborated with Microsoft, Accenture Song, and NVIDIA to build and launch a new AI-powered in-house service to create high-quality product content at scale.

    With its new digital twin content supply chain powered by NVIDIA Omniverse on Microsoft Azure and using Microsoft AI solutions, content creators across Nestlé’s 45 content studios around the world can deliver high-quality creative assets at scale for e-commerce and marketing communications. Nestlé’s Integrated Marketing Services (IMS)—250 marketing experts in seven hubs—are working on scaling the digital twins and driving content localization.

    Nestlé already has a baseline of 4,000 3D digital products, mainly for global brands, with the ambition to convert a total of 10,000 products into digital twins in the next two years across global and local brands.

    Proving the value of AI investments in digital twins:

    • 70% reduced time and cost associated with scaling digital twins.
    • Faster content production for several brands, including Purina, Nescafé Dolce Gusto, and Nespresso.
    • Better ability to position iconic brands in a fast-moving digital environment.
    • Seamless updates for seasonal campaigns or channel-specific formats.

    For Nestlé, these technologies are proving to be catalysts for creative ingenuity, revolutionizing creative workflows in design, supercharging content creation, and enabling nuanced personalization—positioning Nestlé at the forefront of marketing.

    Learn more from this video about conversations Chief Marketing Officers had with Microsoft at the recent Cannes Lions Festival of Creativity event:

    2. Digital twins enable game-changing one-to-one consumer experiences

    Digital twins are generating realistic virtual experiences that not only enhance the shopper journey but also hyper-personalize each touchpoint to create memorable brand moments. AI has enabled interoperability between datasets to unlock online configurators, virtual reality product trials and visualizations, and in-store displays.

    Net-net: Embedding AI in user experiences is allowing consumer and retail goods companies to enable:

    • Try-ons for beauty products and fashion.
    • Configurators for custom merchandise.
    • Interactive, 360-degree product views.

    The era of AI ushers in a world of “intelligence on tap.”

    Imagine if AI-powered digital product twins merge product imagery and consumer insights to create visuals targeted to specific audience segments or even individual customers.

    A combination of insights and digital twin content creation empowers marketers to optimize for better impact and even map future trends. The value of building digital twins goes beyond endless product image creation. CPG brands are now leveraging AI to connect real-time campaign insights to their content studios as a primary use case to prove value. Agents are being built to perform audience simulations, test images, content, and even segmentation strategy to drive higher return on ad spend (ROAS) or even predict impact.

    Net-net: Use AI to connect media insights and content to:

    • Simulate, refine, and test marketing scenarios and consumer responses.
    • Increase campaign effectiveness with real-time, iterative feedback.
    • Test and optimize personalized marketing strategies at scale.
    • Model customer segments and predict campaign outcomes.

    As AI continues to evolve traditional processes and enhance productivity, marketers know human creativity remains a critical resource. With digital simulations and AI together, you can reallocate your valuable resources to more strategic, creative tasks; reduce costs and risk; and help your marketing teams optimize spend and focus on your number one KPI: growth.

    Learn more

    Microsoft Cloud for Retail

    Connect your customers, your people, and your data

    Michele Fisher

    Global Strategy Director

    Michele Fisher (she/her) is a Global Strategy Director at Microsoft and a sought-after brand consultant specializing in marketing innovation with AI. Her expertise spans multiple sectors, with particular focus on retail and consumer goods. She’s led innovative solution strategies at the intersection of technology and customer experience at Microsoft, Amazon Ads, and The Walt Disney Company. Michele lives in Kirkland, Washington, with her husband, three kids, and furry coworker, Butters the Labradoodle.

    See more articles from this author

    MIL OSI Global Banks –

  • MIL-OSI Banking: Inflation increased to 2 percent in June 2025

    Source: Bank of Botswana

    Headline inflation increased from 1.9 percent in May to 2 percent in June 2025, remaining below the lower bound of the medium-term objective range of 3 – 6 percent and was lower than the 2.8 percent recorded in June 2024. The marginal increase in inflation between May and June 2025 was mainly on account of the acceleration in the rate of annual price changes of a few categories of goods and services, notably Transport and Housing, Water, Electricity, Gas & other Fuels. Similarly, the 16 percent trimmed mean inflation and inflation excluding administered prices increased from 1.8 percent and 3.7 percent to 2 percent and 3.9 percent, respectively, between May and June 2025.

    Inflation for domestic tradeables decreased from 4.5 percent to 4.3 percent between May and June 2025, mainly on account of the deceleration in the rate of annual price changes of some food items in this category, including sorghum meal, white bread flour, and samp. Conversely, inflation for imported tradeables increased from 0.8 percent to 1.1 percent over the same period, mainly on account of the increase in the price of most alcoholic beverages and vehicles. Overall, all tradeables inflation increased from 1.8 percent to 2 percent between May and June 2025. Meanwhile, inflation for non-tradeables was unchanged at 2 percent in the same period.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: expert reaction to government’s Life Sciences Sector Plan

    Source: United Kingdom – Executive Government & Departments

    Scientists comment on the Government’s Life Sciences Sector Plan. 

    David Seymour, Director of Data Partnerships, Health Data Research UK, said: 

    “The ambition in these new government plans is much needed, but it is colliding with a system full of potholes that disrupt, delay and damage vital health data research.

    “Our life sciences sector holds the key to faster discovery of treatments, better patient care, prevention of diseases and the essential economic growth required to fund a revitalised NHS.  Yet in access to health data, researchers and innovators are gridlocked by legal, governance and contractual complexity, coupled with a lack of people with the capacity and authority to unblock barriers and make decisions.  This is the harsh reality that undermines our boldest plans.

    “While major investments in the genomics revolution and Health Data Research Service are welcome, there is a real danger of ‘planning blight,’ where the focus on designing the future system stops us from improving the performance of the current system.  The most radical thing we can do is get the basics right.  This means a relentless focus on maximising the value of our existing world-class data assets – the likes of the Clinical Practice Research Datalink (CPRD) research service, UK BioBank, Genomics England and Our Future Health – enriched through data linkage and novel data collection.

    “Fixing today’s ‘potholes’ isn’t a distraction from the long-term vision – it’s the only way to make it happen.  Anything less holds back the UK’s global competitiveness and fails patients and the public.”

    Prof Bryan Williams, Chief Scientific and Medical Officer, British Heart Foundation, said:

    “A thriving life science sector is key to unlocking the next generation of treatments and cures for some of the UK’s biggest killers, including cardiovascular disease. It’s great to see the Government recognising this in today’s plan, which will help researchers grasp this moment of immense scientific opportunity.

    “We welcome the pledge to continue investing in science which drives life-changing discoveries in medicine, whilst ensuring that patients benefit quickly from those discoveries.  The commitment to shift health research funding towards making advances in prevention is also very encouraging.

    “As key funders of UK research and development, charities like the British Heart Foundation are vital in helping to achieve this plan’s vision.  We look forward to working in close partnership with Government and the wider sector to fully deliver the improvements needed.”

    Prof Patrick Chinnery, Executive Chair, Medical Research Council, said:

    “The new Life Sciences Sector Plan sets out a bold vision to transform how one of the UK’s most dynamic and globally competitive sectors delivers for our economy and for people around the world.

    “The Medical Research Council is committed to playing a central role in realising this vision by accelerating the translation of curiosity-driven research into innovations that support disease prevention, earlier diagnosis and better treatments.

    “In partnership with researchers, charities and industry, we will help more people live healthier, more productive lives, and attract further investment to strengthen the UK’s life sciences sector.”

    Nicola Perrin MBE, Chief Executive, Association of Medical Research Charities (AMRC), said: 

    “We’re pleased to see life sciences recognised as a priority sector for the UK.  This is a triple win for the economy, for the NHS and for patients.  It will benefit people across the country and unlock new ways to prevent, diagnose and treat disease.

    “We welcome the positioning of research at the heart of the Life Sciences Sector Plan, from the earliest stages of discovery science and beyond.  We also welcome the focus on ensuring that the NHS embraces new discoveries and innovations – these will only have an impact if they get to patients quickly and effectively.

    “It’s reassuring to see a clear focus on implementation and accountability in the plan.  This will help to ensure urgent action and real change.  Medical research charities must be key delivery partners – they support R&D that focuses on patients, addresses areas of unmet need and accelerates impact.”

    Dr Iain Foulkes, Executive Director of Research and Innovation, Cancer Research UK, said:

    “The Life Sciences Sector Plan sets out promising ambitions to make the UK a global leader in science, but it doesn’t do enough to tackle the challenges holding back clinical research.

    “We need government, industry and charities to work together so that people get faster access to the most promising new cancer treatments.

    “The Plan rightly highlights the delays in setting up commercial clinical trials in the UK, but it overlooks the fact that non-commercial trials – often led by charities or the NHS – are facing the same issues.  These trials are being held back by slow and complicated processes, excessive red tape, and a lack of capacity across the system.

    “Government action is needed to strip away these barriers and build more time for research in NHS staff contracts.”

    Prof Andrew Morris CBE FRSE PMedSci, President, Academy of Medical Sciences, said:

    “The Government’s Life Sciences Sector Plan delivers a robust framework that industry, academia and the NHS have long needed to help unlock the full potential of one of the UK’s most important sectors.

    “As we highlighted in our Future-proofing UK Health Research report, a coordinated and people-centred approach is essential to secure a sustainable future for life sciences research and deliver maximum health benefits for people everywhere.  With over £2bn of funding and clear accountability mechanisms, this plan provides actionable commitments that can drive economic growth, improve the UK’s standing on a world stage and transform health equity.

    “The six headline actions align closely with priorities the Academy of Medical Sciences has consistently championed, including cutting clinical trials times, strengthening health data infrastructure, and streamlining regulation and procurement.  These measures have the potential to transform how we develop and deploy new treatments, placing people at the heart of the UK health research system whilst maximising discovery science and the research potential of the NHS.

    “Recognising that the NHS must become a thriving site of research is key to improving health and prosperity in the UK and driving health outcomes globally.  The plan’s effectiveness will depend on sustained coordination across all sectors and funders, and engagement with patients and the public, to enable the UK’s life sciences sector to flourish and deliver health benefits for people everywhere.” 

    Plan: https://assets.publishing.service.gov.uk/media/687653fb55c4bd0544dcaeb1/Life_Sciences_Sector_Plan.pdf; https://www.gov.uk/government/publications/life-sciences-sector-plan

    Press release: https://www.gov.uk/government/news/life-sciences-sector-plan-to-grow-economy-and-transform-nhs

    Declared interests

    The nature of this story means everyone quoted above could be perceived to have a stake in it. cAs such, our policy is not to ask for interests to be declared – instead, they are implicit in each person’s affiliation.

    MIL OSI United Kingdom –

  • MIL-OSI NGOs: Enough of passing the buck, enough of the delay, enough of the bloodshed

    Source: Oxfam –

    In response to the EU’s foreign affairs ministers meeting to discuss the list of options for political action against Israel, Bushra Khalidi, Oxfam’s Policy Lead in the Occupied Palestinian Territory and Gaza, said:  

    “Every day that passes without real action means more death and destruction. Yet, once again, Europe is kicking the can down the road.  

    “The recent aid deal may have been a step, but, in reality, it is mere breadcrumbs. Aid alone cannot stop this catastrophe. We cannot continue to watch children killed and say ‘we are making progress’. We cannot watch food rot in aid trucks while people starve and say ‘this is working.’ 

    “The EU cannot continue to maintain full ties with a government it acknowledges may be violating EU human rights principles, while offering humanitarian aid with one hand and enabling impunity with the other. 

    “We do not need another cautious statement nor another backroom deal. We need real leadership and decisive action. Enough of passing the buck. Enough of the delay. Enough of the bloodshed.”  

    EU foreign affairs ministers met today for the Foreign Affairs Council. At the meeting, EU Foreign Affairs Chief, Kaja Kallas, presented a list of options to EU foreign affairs ministers including the full or partial suspension of the EU-Israel Association Agreement.    

    The EU is Israel’s biggest trading partner.   

    Article 2 of the EU-Israel Association Agreement states “Relations between the Parties, as well as all the provisions of the Agreement itself, shall be based on respect for human rights and democratic principles, which guides their internal and international policy and constitutes an essential element of this Agreement.” Israel’s well-documented violations of international humanitarian law and human rights, particularly in Gaza and the West Bank, violate Article 2.     

    On Thursday, the EU and Israel agreed on steps that include “the substantial increase of daily trucks for food and non-food items to enter Gaza, the opening of several other crossing points in both the northern and southern areas; the reopening of the Jordanian and Egyptian aid routes” among other items.    

    Beyond suspending this agreement, Oxfam is calling for a permanent ceasefire, safe and unhindered humanitarian aid, an end to illegal Israeli occupation and a halt in all arm sales and transfers to Israel while there is a risk they are used to commit or facilitate serious violations of international humanitarian or human rights law.      

    Jade Tenwick | Brussels, Belgium | jade.tenwick@oxfam.org | mobile +32 473 56 22 60 | Personal (WhatsApp only) +32 484 81 22 94            

    For more information on our work and to see our latest press releases, please visit oxfam.org/eu.         
        
    For updates, follow us on Twitter, BlueSky and LinkedIn.          

    MIL OSI NGO –

  • MIL-OSI NGOs: Greenpeace: Ramaphosa, G20 must end financial apartheid with tax on super-rich

    Source: Greenpeace Statement –

    Durban, South Africa, 16 July 2025 – Greenpeace Africa has demanded G20 host and South African President Ramaphosa push ahead on accelerating efforts to impose a wealth tax on the world’s billionaires and to support the UN Tax Convention for new and fair global tax rules. 

    Greenpeace Africa activists hung a giant banner with a photo of South African president Cyril Ramaphosa reading ‘End Financial Apartheid #TaxTheSuperRich’, ahead of the G20’s 3rd Finance Ministers and Central Bank Governors’ meeting in Durban. Greenpeace is demanding the G20 host push ahead on accelerating efforts to impose a wealth tax on the world’s billionaires and to support the UN Tax Convention for new and fair global tax rules. © Chanho Kondolo / Greenpeace

    Ahead of the G20’s 3rd Finance Ministers and Central Bank Governors’ meeting, Greenpeace Africa activists dropped a 15 metre long x 2 metre high banner from a highway bridge near King Shaka International Airport with a photo of Cyril Ramaphosa and a message that said: ‘End Financial Apartheid. Tax The Super Rich’. 

    Cynthia Moyo, Lead Campaigner, Greenpeace Africa, said: “It’s outrageous that billionaires keep getting richer off a broken global tax system while millions across Africa and the world are pushed deeper into poverty and climate chaos. This is financial apartheid. South Africa understands the cost of injustice. Just as Mandela led the fight against political apartheid, President Ramaphosa now has a chance to lead the G20 in dismantling financial apartheid by taxing the super-rich and backing the UN Tax Convention. This is a fight for justice, dignity, and a future where wealth serves people, not the powerful few.”

    The action comes after an announcement at the UN Financing for Development conference that Spain, Brazil and South Africa are launching an initiative to tax the super-rich and the recent BRICS statement in support of the UN Tax Convention.[1] [2] [3]

    Fred Njehu, Global Political Lead of the Fair Share campaign, Greenpeace Africa, said: “We are on the cusp of momentous change. There is growing public and political momentum for taxing the super-rich and new global tax rules that work for all to achieve social and climate justice.

    “This is a historic opportunity for President Ramaphosa, who must seize this chance to lead the G20 in an economic direction that will serve not only the people of South Africa and the continent, but the majority world, by redistributing funds to tackle the social, environmental and climate polycrisis.

    “We ask G20 countries to support and engage constructively in the UN Tax Convention process as a global multilateral platform that will shape and determine the future of taxation, one rooted in transparency, accountability, equity and justice.”

    Globally, billionaire wealth grew three times faster in 2024 than in 2023.[4] In Africa, the four richest people have more wealth than half of the region’s 750 million people combined. Since 2020, the average income of the richest 1% in Africa has increased five times faster than that of the bottom 50%.[5]

    ENDS

    Photos and Videos can be downloaded via Greenpeace Media Library

    NOTES

    [1] At the recently concluded 4th International Conference on Financing for Development in Seville, South Africa had joined the ranks of Spain and Brazil in forming a coalition of willing countries to work on taxing the super-rich and to support fair taxation at the upcoming UN Tax Convention negotiations. Greenpeace’s press release 

    [2] BRICS leaders’ endorsement of the UN framework for international tax cooperation. 

    [3] New global tax rules in an UN Framework Convention on International Tax Cooperation are being negotiated, from now until 2027. It is a historic opportunity to redistribute power and wealth, and foster tax transparency and accountability. It aims to take control of global tax rules from the rich OECD (Organisation for Economic Cooperation and Development) countries to place it in the hands of the 193 member states of the United Nations. 

    [4] Oxfam report: Takers not Makers: The unjust poverty and unearned wealth of colonialism

    [5] Oxfam report: Africa’s Inequality Crisis and the Rise of the Super-Rich

    CONTACTS

    Ferdinand Omondi, Communications and Storytelling Manager, Greenpeace Africa, +254 722 505 233 , fomondi@admin

    Ibrahima Ka Ndoye, International Communications Coordinator, Greenpeace Africa, +221778437172, indoye@admin

    Greenpeace International Press Desk, +31 (0)20 718 2470 (available 24 hours), [email protected]

    MIL OSI NGO –

  • MIL-OSI Banking: Somalia: Third Review Under the Extended Credit Facility and Request for a Modification of Quantitative Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Somalia

    Source: International Monetary Fund

    International Monetary Fund. Middle East and Central Asia Dept. “Somalia: Third Review Under the Extended Credit Facility and Request for a Modification of Quantitative Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Somalia”, IMF Staff Country Reports 2025, 191 (2025), accessed July 16, 2025, https://doi.org/10.5089/9798229014779.002

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: UK Export Finance makes historic first visit to Turkmenistan

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK Export Finance makes historic first visit to Turkmenistan

    UK Export Finance visited Turkmenistan for the first time last month and met with key ministries and institutions.

    Ms Clare Allbless, Deputy Head of Mission, British Embassy Ashgabat, Ms Sebnem Alp, UKEF Country Head for Türkiye, Eastern Europe and Central Asia, and Ms Irem Kayhan, Deputy Head for Türkiye, Turkmenistan & Mongolia, Mr Eldar Latypov, Project Officer, British Embassy Ashgabat.

    The British Embassy in Ashgabat is pleased to announce the successful conclusion of the first-ever visit to Turkmenistan by senior representatives of UK Export Finance (UKEF), the UK Government’s export credit agency. From 23 to 27 June 2025, Ms Sebnem Alp, UKEF Country Head for Türkiye, Eastern Europe and Central Asia, and Ms Irem Kayhan, Deputy Head for Türkiye, Turkmenistan & Mongolia, held high-level meetings with key ministries and institutions across Turkmenistan.

    Productive discussions with the Ministries.

    The visit, graciously facilitated by the Ministry of Foreign Affairs of Turkmenistan, included productive discussions with the Ministry of Finance and Economy, Ministry of Energy, Central Bank, Vnesheconombank, and other strategic agencies. These engagements explored opportunities for UKEF to support major sovereign projects across infrastructure, fertiliser, transport, agriculture, water, and green transition sectors in Turkmenistan, potentially backed by UKEF guarantee support of up to £5 billion

    Ms Clare Allbless, Deputy Head of Mission, British Embassy Ashgabat, Ms Sebnem Alp, UKEF Country Head for Türkiye, Eastern Europe and Central Asia, and Ms Irem Kayhan, Deputy Head for Türkiye, Turkmenistan & Mongolia, Mr Eldar Latypov, Project Officer, British Embassy Ashgabat.

    This milestone visit marks a new chapter in UK – Turkmenistan relations and opens the door to deeper bilateral trade and investment cooperation. The British Embassy stands ready to support continued dialogue and collaboration between UKEF and the Government of Turkmenistan to deliver sustainable, high-quality development outcomes.

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI: As Bitcoin Retreats from Record High, GoldenMining Launches Globally to Offer Investors a Reliable, Green Income Alternative

    Source: GlobeNewswire (MIL-OSI)

    New York, USA, July 16, 2025 (GLOBE NEWSWIRE) — As Bitcoin retreats from its recent all-time high of $123,000, investor sentiment is showing signs of shift. Rising exchange inflows and widespread profit-taking have injected fresh volatility into the crypto market, prompting many to seek more secure, stable income sources. In this shifting landscape, GoldenMining has officially launched its next-generation global cloud mining platform, offering a compelling, eco-friendly alternative for those looking to earn consistent daily rewards without the unpredictability of crypto trading.

    According to a recent CryptoQuant analysis by blockchain expert Terekonchain (July 14), retail and short-term whale investors have begun offloading assets, triggering a cooling-off period that’s left casual investors uncertain. With its official launch, GoldenMining steps in as a strategic solution—offering passive income through sustainable mining contracts, without requiring users to trade, hold, or manage cryptocurrencies manually.

    GoldenMining Officially Launches in 100+ Countries

    Headquartered in London, GoldenMining is now available to users in over 100 countries, offering an intuitive, hardware-free mining experience across both desktop and mobile platforms. The company supports a diverse range of short- and long-term cloud mining contracts—each designed to deliver daily rewards in popular cryptocurrencies like BTC, ETH, USDT, DOGE, SOL, and more.

    What sets GoldenMining apart is its deep commitment to sustainability. With more than 13 international data centers powered by wind and solar energy, the platform proudly aligns with its “Green Earth” initiative—making it a standout choice for environmentally conscious investors.

    Cloud Mining Contracts that Deliver Consistent Daily Income

    contract days Investment Amount Contract Rewards Total income
    Daily Sign-in Rewards 1 $15 $0.6 $15.6
    New User Contract  2 $100 $3 $106
    Bitmain S23 Hyd 5 $650 $42.25 $692.25
    AntminerL917GH 12 $1800   $287.28 $2087.28
    L916GH 30 $4500  $1890 $6390
    ElphaPex DG Hydro1 30 $7800 $3346 $11146
    ANTSPACE MD5 50 $50000 $1000 $100000

    Each contract is powered remotely, eliminating the need for expensive hardware, electricity costs, or complex configurations.

    Key Launch Highlights

    • $15 Sign-Up Bonus – New users get started instantly with a free contract.
    • Daily Payouts – Contracts pay daily income, even during market downturns.
    • Multi-Currency Support – BTC, ETH, USDT, XRP, DOGE, SOL, and more.
    • 100% Remote Mining – No equipment, no setup, no technical expertise needed.
    • Global Availability – Users in over 100 countries can access the platform.
    • 24/7 Multilingual Support – Round-the-clock assistance in multiple languages.
    • Green-Powered Data Centers – Mining operations powered by renewable energy.
    • Bank-Level Security – SSL encryption, AIG-insured contracts, and secure fund storage.

    Why This Launch Matters Now

    GoldenMining’s debut could not be more timely. With Bitcoin’s price pulling back and investor sentiment uncertain, this launch provides a clear, low-risk income alternative backed by real infrastructure and green energy. For anyone looking to diversify from high-volatility trading or get started in crypto without the learning curve, GoldenMining offers a compelling new pathway.

    “We believe everyone deserves a simple, secure way to earn from crypto—without harming the planet,” said a GoldenMining spokesperson. “Our global launch brings that vision to life.”

    Already, the platform has seen over $100 million in early contract settlements, with rapid expansion underway to meet surging demand.

     About GoldenMining

    GoldenMining is a UK-based green cloud mining provider that empowers individuals across the globe to participate in crypto mining without any technical barriers. With a focus on environmental sustainability, robust security, and user-friendly design, GoldenMining delivers an income opportunity that’s profitable, reliable, and accessible to everyone.

    For more information, please visit the official website GoldenMining.com
    or contact the official email address info@GoldenMining.com

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    The MIL Network –

  • MIL-OSI: Plumas Bancorp Reports Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., July 16, 2025 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced earnings during the second quarter of 2025 of $6.3 million or $1.07 per share, a decrease of $465 thousand from $6.8 million or $1.15 per share during the second quarter of 2024. Diluted earnings per share decreased to $1.05 per share during the three months ended June 30, 2025 down from $1.14 per share during the quarter ended June 30, 2024.

    Return on average assets was 1.56% during the current quarter, down from 1.67% during the second quarter of 2024. Return on average equity decreased to 13.4% for the three months ended June 30, 2025, down from 17.1% during the second quarter of 2024.

    Net interest income decreased by $222 thousand from $18.4 million during the three months ended June 30, 2024, to $18.2 million during the current quarter. The provision for credit losses decreased from $925 thousand during the second quarter of 2024 to $860 thousand during the current quarter.

    Non-interest income increased by $159 thousand from $2.2 million during the three months ended June 30, 2024 to $2.4 million during the second quarter of 2025.

    Non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. Of this amount, $481 thousand relates to costs associated with our acquisition of Cornerstone Community Bancorp. We signed a definitive agreement to acquire Cornerstone Community Bancorp on January 28, 2025 and we completed the merger on July 1, 2025. Merger transaction costs that facilitate the merger are not deductible for income tax purposes. Of the $481 thousand in merger related costs, $239 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes decreased by $149 thousand from $2.5 million, 26.9% of pre-tax income, during the three months ended June 30, 2024 to $2.4 million, or 27.1% of pre-tax income, during the current quarter.

    For the six months ended June 30, 2025, the Company reported net income of $13.5 million or $2.28 per share, an increase of $461 thousand from $13.0 million or $2.21 per share earned during the six months ended June 30, 2024. Earnings per diluted share increased to $2.25 during the six months ended June 30, 2025, up $0.06 from $2.19 during the first six months of 2024.     

    Return on average assets was 1.67% during the six months ended June 30, 2025, up from 1.61% during the first half of 2024. Return on average equity decreased to 14.7% for the six months ended June 30, 2025, down from 16.7% during the first half of 2024.

    Net interest income increased by $860 thousand from $35.9 million during the six months ended June 30, 2024, to $36.7 million during the current period. The provision for credit losses decreased from $1.7 million during the first half of 2024 to $1.1 million during the current period.

    Non-interest income increased by $1.2 million from $4.3 million during the six months ended June 30, 2024 to $5.5 million during the first half of 2025 related primarily to a legal settlement totaling $1.1 million. This settlement related to the Dixie Fire which swept through the town of Greenville, California in August of 2021. The fire caused severe damage to the Greenville area, including the telecommunications infrastructure which adversely affected our ability to service our customers in this area during the last few years.

    Non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. Of this amount, $1.1 million relates to costs associated with our pending acquisition of Cornerstone Community Bancorp. Of the $1.1 million in merger related costs, $801 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes increased by $583 thousand from $4.6 million, or 26.2% of pre-tax income, during the six months ended June 30, 2024 to $5.2 million, or 27.8% of pre-tax income, during the current period.

    Balance Sheet Highlights
    June 30, 2025 compared to June 30, 2024

    • Gross loans increased by $21 million, or 2%, to $1.0 billion.
    • Total deposits increased by $62 million, or 5%, to $1.4 billion.
    • Borrowings decreased by $105 million, or 88% to $15 million.
    • Total equity increased by $28 million, or 17%, to $193 million.
    • Book value per share increased by $4.53, or 16%, to $32.54.

    President’s Comments

    Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp and Plumas Bank, announced, “The third quarter of 2025 began with a major development for Plumas; we successfully completed our acquisitions of Cornerstone Community Bank and Bancorp, expanding our presence in California’s northern Sacramento Valley. We are thrilled to have Ken Robison, formerly a director at Cornerstone, join the boards of Plumas Bancorp and Bank. We also welcome Matt Moseley, former President and CEO of Cornerstone Community Bank, to the executive team as Market President. Their extensive leadership experience and market knowledge will be instrumental in the ongoing success of our combined organization.”

    Ryback continued, “Beyond the acquisition, we have also been focused on internal advancements. We are expanding our treasury management services to provide comprehensive, personalized banking solutions with enhanced security features. Simultaneously, we have gained efficiency in our lending process through on-going refinements to our lending platforms and department structures.”

    Ryback concluded, “We extend a warm welcome to the clients, employees, and shareholders of Cornerstone. We look forward to providing long-term value to our expanded shareholders, clients, team members, and communities.”

    Loans, Deposits, Investments and Cash

    Gross loans increased by $21 million, or 2%, from $997 million at June 30, 2024, to $1.0 billion at June 30, 2025. Increases in loans included $85 million in commercial real estate loans and $3 million in equity lines of credit; these items were partially offset by decreases of $29 million in automobile loans, $27 million in construction loans, $10 million in agricultural loans and $1 million in residential real estate loans.

    On   June 30, 2025, approximately 78% of the Company’s loan portfolio was comprised of variable rate loans. The rates of interest charged on variable rate loans are set at specific increments in relation to the Company’s lending rate or other indexes such as the published prime interest rate or U.S. Treasury rates and vary with changes in these indexes. The frequency at which variable rate loans reprice can vary from one day to several years. Most of our commercial real estate portfolio reprices every five years. Approximately 76% of the variable rate loans are indexed to the five year T-Bill rate and reprice every five years. Loans indexed to the prime interest rate were approximately 21% of the Company’s variable rate loan portfolio; these loans reprice within one day to three months of a change in the prime rate.

    Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. The increase in deposits includes increases of $67 million in money market accounts and $29 million in time deposits. Partially offsetting these increases were decreases of $2 million in demand deposits and $32 million in savings deposits. We attribute much of the increase in money market accounts to higher rate public entity deposits. At June 30, 2025, 49% of the Company’s deposits were in the form of non-interest-bearing demand deposits. The Company had no brokered deposits at June 30, 2025 and June 30, 2024.

    Total investment securities decreased by $5 million from $445 million at June 30, 2024, to $440 million at June 30, 2025. The Bank’s investment security portfolio consists of debt securities issued by US Government agencies, US Government sponsored agencies and municipalities. Cash and due from banks decreased by $31 million from $110 million at June 30, 2024, to $79 million at June 30, 2025.

    Asset Quality

    Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) at June 30, 2025 were $13.7 million, up from $9.1 million at June 30, 2024. Nonperforming assets as a percentage of total assets increased to 0.84% at June 30, 2025 up from 0.56% at June 30, 2024. OREO decreased by $50 thousand from $141 thousand at June 30, 2024 to $91 thousand at June 30, 2025. Nonperforming loans were $13.6 million at June 30, 2025 and $9.0 million at June 30, 2024. Nonaccrual loans totaled $13.6 million at June 30, 2025 and $2.5 million at June 30, 2024. At June 30, 2025 there were no loans 90 days or more past due that were not on nonaccrual. The difference between the $2.5 million in nonaccrual loans at June 30, 2024 and the $9 million in nonperforming loans in 2024 were loans that were over 90 days past due, but not on nonaccrual. Nonperforming loans as a percentage of total loans increased to 1.34% at June 30, 2025, up from 0.90% at June 30, 2024. The increase in nonperforming loans is related to one agricultural loan relationship of 15 loans totaling $9.9 million. The borrower on these loans was unable to meet his commitments under modified loan agreements and therefore during the quarter we placed the loans on nonaccrual status. Interest reversed on these loans during the current quarter totaled $344 thousand and specific loan loss reserves totaling $931 thousand were applied against the loans.

    During the first half of 2025 we recorded a provision for credit losses of $1.1 million consisting of a provision for credit losses on loans of $1.1 million and a decrease in the reserve for unfunded commitments of $40 thousand. The $1.1 million mostly relates to the specific loan loss reserves noted in the previous paragraph. This compares to a provision for credit losses of $1.7 million consisting of a provision for credit losses on loans of $1.8 million and a decrease in the reserve for unfunded commitments of $79 thousand during the six months ended June 30, 2024.

    Net charge-offs totaled $137 thousand and $610 thousand during the six months ended June 30, 2025 and 2024, respectively. The allowance for credit losses totaled $14.2 million at June 30, 2025 and $14.1 million at June 30, 2024. The allowance for credit losses as a percentage of total loans was 1.39% and 1.41% at June 30, 2025 and 2024.

    The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the six months ended June 30, 2025 and 2024 (in thousands).

    Allowance for Credit Losses   June 30, 2025     June 30, 2024
    Balance, beginning of period $ 13,196     $ 12,867  
    Provision charged to operations   1,150       1,825  
    Losses charged to allowance   (506 )     (1,010 )
    Recoveries                                   369       400  
    Balance, end of period $     14,209     $     14,082  
    Reserve for Unfunded
    Commitments    		  

    June 30, 2025

    		    

    June 30, 2024
    Balance, beginning of period $                                620     $ 799  
    Provision charged to operations   (40 )     (79 )
    Balance, end of period $                                 580     $ 720  

    Shareholders’ Equity

    Total shareholders’ equity increased by $27.9 million from $165.2 million at June 30, 2024, to $193.1 million at June 30, 2025. The $27.9 million includes earnings during the twelve-month period totaling $29.1 million, a decrease in accumulated other comprehensive loss of $4.4 million and restricted stock and stock option activity totaling $1.1 million. These items were partially offset by the payment of cash dividends totaling $6.7 million.

    Bank Term Funding Program (BTFP)

    At June 30, 2024, the Company had outstanding borrowings under BTFP totaling $105 million. All BTFP borrowings were paid off during 2024. Interest expense recognized on the BTFP borrowings for the three and six-months ended June 30, 2024, was $1.3 million and $2.5 million, respectively.

    Liquidity

    The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers’ borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive rates on deposit products and the use of established credit lines.

    The Company is a member of the Federal Home Loan Bank of San Francisco (FHLB) and can borrow up to $255 million from the FHLB secured by commercial and residential mortgage loans with carrying values totaling $439 million. The Company is also eligible to borrow at the Federal Reserve Bank (FRB) Discount Window. At June 30, 2025, the Company could borrow up to $98 million at the Discount Window secured by investment securities with a fair value of $101 million. In addition to its FHLB borrowing line and the Discount Window, the Company has unsecured short-term borrowing agreements with two of its correspondent banks in the amounts of $50 million and $20 million. There were no outstanding borrowings to the FHLB, FRB Discount Window or the correspondent banks at June 30, 2025 and 2024.

    Customer deposits are the Company’s primary source of funds. Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. Deposits are held in various forms with varying maturities. The Company estimates that it has approximately $516 million in uninsured deposits which include uninsured deposits of Plumas Bancorp. Of this amount, $206 million represents deposits that are collateralized such as deposits of states, municipalities and tribal accounts.

    The Company’s securities portfolio, Discount Window advances, FHLB advances, and cash and due from banks serve as the primary sources of liquidity, providing adequate funding for loans during periods of high loan demand. During periods of decreased lending, funds obtained from the maturing or sale of investments, loan payments, and new deposits are invested in short-term earning assets, such as cash held at the FRB and investment securities, to serve as a source of funding for future loan growth. Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the near future.

    Net Interest Income and Net Interest Margin – Three Months Ended June 30, 2025

    Net interest income was $18.2 million for the three months ended June 30, 2025, a decrease of $222 thousand from the same period in 2024. The decrease in net interest income includes a decrease of $527 thousand in interest income partially offset by a decrease of $305 thousand in interest expense. Interest and fees on loans increased by $200 thousand related to growth in the loan portfolio partially offset by a decline in yield.

    Average loan balances increased by $39 million, while the average yield on these loans decreased by 18 basis points from 6.32% during the second quarter of 2024 to 6.14% during the current quarter. Of the 18 basis points decrease, 13 basis points relate to the reversal of $344 thousand in interest previously described under “Asset Quality” The average prime interest rate decreased from 8.5% during the second quarter of 2024 to 7.5% during the current quarter. Approximately 16% of the Company’s loans are tied to the prime interest rate and most of these reprice within one to three months with a change in prime. Additionally, during the second quarter of 2024 we recovered $316 thousand in interest on loans that were classified as nonaccrual and which were paid off in full during the quarter which elevated loan yield during the 2024 quarter. The effect of these items was partially offset by an increase in average yield on the bank’s fixed rate portfolio which includes growth in fixed rate SBA loans which totaled $75 million at June 30, 2025, and $62 million at June 30, 2024. The weighted average rate earned on this portfolio at June 30, 2025, was 8.3%. The Bank is also benefiting from the repricing of a portion of our Commercial Real Estate loans. Most of these loans are indexed to the 5-year Treasury note and reprice every five years.

    Interest on investment securities decreased by $30 thousand as yield on these securities decreased slightly from 4.11% during the 2024 quarter to 4.08% during the current quarter and average investment securities declined from $444 million during the three months ended June 30, 2024 to $442 million during the current quarter.

    Interest on cash balances decreased by $697 thousand related to a decline in average balance of $42 million and a decrease in average rate paid on cash balances of 104 basis points from 5.51% during the second quarter of 2024 to 4.47% during the current quarter. This decline in yield was mostly related to a decline in rate paid on balances held at the FRB. The average rate earned on FRB balances decreased from 5.40% during the second quarter of 2024 to 4.40% during the current quarter.

    Interest expense decreased by $305 thousand, related to the repayment of the BTFP borrowings as discussed earlier. The average rate paid on interest bearing liabilities decreased from 1.44% during the 2024 quarter to 1.33% in 2025 related to the decrease in these borrowings.

    Interest paid on deposits increased by $968 thousand and is broken down by product type as follows: money market accounts – $815 thousand, savings deposits – $83 thousand and time deposits $70 thousand. The increase in interest paid on money market accounts mostly relates to an increase in public entity balances and the rate earned on these balances. During the second half of 2024 and continuing into 2025, we have offered a premium money market rate on large balances of public entities in our service area, matching the rate they could earn from the California local agency investment fund. This has led to the significant increase in balances and rate paid on money market accounts. The average balance of money market accounts during the current quarter was $288 million, an increase of $72 million from $216 million during the three months ended June 30, 2024. The average rate paid on money market accounts increased 92 basis points to 1.79%. The increase in interest on savings accounts was driven by an increase in the average rate paid of 12 basis points to 34 basis points. The increase in interest on time deposits includes an increase in average balance of $23 million partially offset by a decline in average rate paid of 33 basis points to 2.53% as promotional time deposits issued in 2024 matured. Many of these promotional time deposits were renewed at lower rates. The average rate paid on interest-bearing deposits increased from 0.84% during the second quarter of 2024 to 1.30% during the current quarter. The average balance of interest-bearing deposits increased from $633 million during the three months ended June 30, 2024 to $705 million during the quarter.

    Net interest margin for the three months ended June 30, 2025 decreased 6 basis points to 4.83%, down from 4.89% for the same period in 2024. Excluding the $344 thousand in interest reversed described earlier, net interest margin for the three months ended June 30, 2025 would have been 4.93%.

    Net Interest Income and Net Interest Margin – Six Months Ended June 30, 2025

    Net interest income for the six months ended June 30, 2025 was $36.7 million, an increase of $860 thousand from the $35.9 million earned during the same period in 2024. The increase in net interest income includes an increase of $36 thousand in interest income and a reduction in interest expense of $824 thousand.

    Interest and fees on loans increased by $1.0 million related to an increase in average balance partially offset by a decline in yield. The average balance of loans during the six months ended June 30, 2025 was $1.0 billion, an increase of $44 million from $972 million during the same period in 2024. The average yield on loans decreased by 6 basis points from 6.21% during the first six months of 2024 to 6.15% during the current period.

    Interest on investment securities increased by $84 thousand related to an increase in yield of 21 basis points to 4.10% partially offset by a decline in average balance. The increase in investment yields is consistent with the increase in market rates and the restructuring of the investment portfolio in February of 2024. Average investment securities declined from $462 million during the six months ended June 30, 2024 to $443 million during the current period.

    Interest on cash balances declined by $1.1 million related to both a decline in balance and a decline in yield. The rate earned on cash balances declined by 104 basis points to 4.5% and the average balance declined from $81.8 million during the first six months of 2024 to $53.8 million during the current period.

    Related to a $2.5 million decline in interest on BTFP borrowings partially offset by an increase in interest bearing deposits and an increase in the cost of these deposits, interest expense decreased from $5.3 million during the six months ended June 30, 2024 to $4.5 million during the current period. The average rate paid on interest bearing liabilities decreased from 1.39% during the 2024 period to 1.24% in 2025.

    Interest paid on deposits increased by $1.7 million and is broken down by product type as follows: money market accounts – $1.6 million and savings deposits – $109 thousand. The average rate paid on interest-bearing deposits increased from 0.79% during the six months ended June 30, 2024 to 1.21% during the current period. Average interest-bearing deposits totaled $698 million during the first half of 2025 an increase of $62 million from $636 million during the first half of 2024.

    Net interest margin for the six months ended June 30, 2025 increased 13 basis points to 4.89%, up from 4.76% for the same period in 2024.

    Non-Interest Income/Expense – Three Months Ended June 30, 2025

    Non-interest income increased by $159 thousand to $2.4 million during the current quarter. The largest increase was related to a $184 thousand adjustment to the value of our stock holdings in one of our correspondent banks.

    During the three months ended June 30, 2025, total non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. The largest components of this increase were merger related expenses of $481 thousand and salary and benefit expense of $270 thousand. The increase in salary and benefit expense includes an increase in salary expense of $216 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $144 thousand was offset by a decline in commission expense of $180 thousand. Both items mostly relate to a decline in SBA loan production during the comparison quarters.

    Non-Interest Income/Expense – Six Months Ended June 30, 2025

    During the six months ended June 30, 2025, non-interest income totaled $5.6 million, an increase of $1.2 million from the six months ended June 30, 2024. The largest component of this increase was a legal settlement totaling $1.1 million related to the Dixie Fire in August of 2021.

    During the six months ended June 30, 2025, total non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. The largest components of this increase were merger related expenses of $1.1 million, salary and benefit expenses of $784 thousand and occupancy and equipment expenses of $425 thousand. The increase in salary and benefit expense included an increase in salary expense of $484 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $257 thousand was offset by a decline in commission expense of $317 thousand. Both items mostly relate to a decline in SBA loan production during the comparison periods. The increase in occupancy and equipment expense mostly relates to an increase in rent expense of $374 thousand related to the February 2024 sales/leaseback transaction. Partially offsetting these increases in expense were several reductions in non-interest expense the largest of which was a reduction in professional fees of $320 thousand. Included in professional fees during the six months ended June 30, 2024 were legal expenses totaling $188 thousand related to a litigation matter that was settled in the second half of 2024.

    Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The bank operates nineteen branches: seventeen located in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sutter and Tehama and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates two loan production offices located in Auburn, California and Klamath Falls, Oregon. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.

    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

    Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

    Contact: Jamie Huynh
    Investor Relations
    Plumas Bancorp
    5525 Kietzke Lane Ste. 100
    Reno, NV 89511
    775.786.0907 x8908
    investorrelations@plumasbank.com

    PLUMAS BANCORP
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
      As of June 30,        
      2025   2024   Dollar
    Change    		   Percentage
    Change
    ASSETS              
    Cash and due from banks $ 79,266   $ 109,852   $ (30,586)   (27.8)%
    Investment securities 439,676   445,132   (5,456)   (1.2)%
    Loans, net of allowance for credit losses 1,006,873   986,517   20,356   2.1%
    Premises and equipment, net 12,065   12,868   (803)   (6.2)%
    Right-of-use assets 23,912   24,975   (1,063)   (4.3)%
    Bank owned life insurance 16,736   16,310   426   2.6%
    Real estate acquired through foreclosure 91   141   (50)   (35.5)%
    Goodwill 5,502   5,502   –   0.0%
    Accrued interest receivable and other assets 44,396   40,800   3,596   8.8%
    Total assets $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
    LIABILITIES AND              
       SHAREHOLDERS’ EQUITY  
    Deposits $ 1,366,827   $ 1,304,587   $ 62,240   4.8%
    Accrued interest payable and other liabilities 53,611   52,355   1,256   2.4%
    Borrowings 15,000   120,000   (105,000)   (87.5)%
    Total liabilities 1,435,438   1,476,942   (41,504)   (2.8)%
    Common stock 29,803   28,656   1,147   4.0%
    Retained earnings 183,954   161,608   22,346   13.8%
    Accumulated other comprehensive loss, net (20,678)   (25,109)   4,431   17.6%
    Shareholders’ equity 193,079   165,155   27,924   16.9%
    Total liabilities and shareholders’ equity $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
                   
    FOR THE THREE MONTHS ENDED JUNE 30, 2025   2024   Dollar
    Change    		   Percentage
    Change
                   
    Interest income $ 20,633   $ 21,160   $ (527)   (2.5)%
    Interest expense 2,450   2,755   (305)   (11.1)%
    Net interest income before provision for credit losses 18,183   18,405   (222)   (1.2)%
    Provision for credit losses 860   925   (65)   (7.0)%
    Net interest income after provision for credit losses 17,323   17,480   (157)   (0.9)%
    Non-interest income 2,361   2,202   159   7.2%
    Non-interest expense 11,012   10,396   616   5.9%
    Income before income taxes 8,672   9,286   (614)   (6.6)%
    Provision for income taxes 2,351   2,500   (149)   (6.0)%
    Net income $ 6,321   $ 6,786   $ (465)   (6.9)%
                   
    Basic earnings per share $ 1.07   $ 1.15   $ (0.08)   (7.0)%
    Diluted earnings per share $ 1.05   $ 1.14   $ (0.09)   (7.9)%
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
              Dollar   Percentage
    FOR THE SIX MONTHS ENDED JUNE 30, 2025   2024   Change   Change
                   
    Interest income $ 41,223   $ 41,187   $ 36   0.1%
    Interest expense 4,501   5,325   (824)   (15.5)%
    Net interest income before provision for credit losses 36,722   35,862   860   2.4%
    Provision for credit losses 1,110   1,746   (636)   (36.4)%
    Net interest income after provision for credit losses 35,612   34,116   1,496   4.4%
    Non-interest income 5,574   4,342   1,232   28.4%
    Non-interest expense 22,477   20,793   1,684   8.1%
    Income before income taxes 18,709   17,665   1,044   5.9%
    Provision for income taxes 5,208   4,625   583   12.6%
    Net income $ 13,501   $ 13,040   $ 461   3.5%
                   
    Basic earnings per share $ 2.28   $ 2.21   $ 0.07   3.2%
    Diluted earnings per share $ 2.25   $ 2.19   $ 0.06   2.7%
             
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands, except per share data)
    (Unaudited)
                       
      Three Months Ended   Six Months Ended
      6/30/2025   3/31/2025   6/30/2024   6/30/2025   6/30/2024
    EARNINGS PER SHARE                  
    Basic earnings per share $ 1.07     $ 1.21     $ 1.15     $ 2.28     $ 2.21  
    Diluted earnings per share $ 1.05     $ 1.20     $ 1.14     $ 2.25     $ 2.19  
    Weighted average shares outstanding   5,929       5,911       5,896       5,920       5,892  
    Weighted average diluted shares outstanding   6,006       6,002       5,946       6,006       5,946  
    Cash dividends paid per share 1 $ 0.30     $ 0.30     $ 0.27     $ 0.60     $ 0.54  
                       
    PERFORMANCE RATIOS (annualized for the three months)            
    Return on average assets   1.56 %   1.79 %   1.67 %   1.67 %     1.61 %
    Return on average equity   13.4 %   16.0 %   17.1 %   14.7 %     16.7 %
    Yield on earning assets   5.48 %   5.50 %   5.62 %   5.49 %     5.46 %
    Rate paid on interest-bearing liabilities   1.33 %   1.14 %   1.44 %   1.24 %     1.39 %
    Net interest margin   4.83 %   4.95 %   4.89 %   4.89 %     4.76 %
    Noninterest income to average assets   0.58 %   0.80 %   0.54 %   0.69 %     0.54 %
    Noninterest expense to average assets   2.72 %   2.85 %   2.56 %   2.79 %     2.57 %
    Efficiency ratio 2   53.6 %   52.7 %   50.4 %   53.1 %     51.7 %
                       
      6/30/2025   3/31/2025   6/30/2024   12/31/2024   12/31/2023
    CREDIT QUALITY RATIOS AND DATA                  
    Allowance for credit losses $ 14,209     $ 13,319     $ 14,082     $ 13,196     $ 12,867  
    Allowance for credit losses as a percentage of total loans   1.39 %     1.32 %     1.41 %     1.30 %     1.34 %
    Nonperforming loans $ 13,652     $ 3,686     $ 8,974     $ 4,105     $ 4,820  
    Nonperforming assets $ 13,747     $ 3,787     $ 9,148     $ 4,307     $ 5,315  
    Nonperforming loans as a percentage of total loans   1.34 %     0.36 %     0.90 %     0.40 %     0.50 %
    Nonperforming assets as a percentage of total assets   0.84 %     0.23 %     0.56 %     0.27 %     0.33 %
    Year-to-date net charge-offs $ 137     $ 127     $ 610     $ 1,046     $ 954  
    Year-to-date net charge-offs as a percentage of average   0.03 %     0.05 %     0.13 %   0.11 %     0.10 %
    loans (annualized)      
                       
    CAPITAL AND OTHER DATA                  
    Common shares outstanding at end of period   5,934       5,922       5,896       5,903       5,872  
    Shareholders’ equity $ 193,079     $ 187,603     $ 165,155     $ 177,899     $ 147,317  
    Book value per common share $ 32.54     $ 31.68     $ 28.01     $ 30.14     $ 25.09  
    Tangible common equity3 $ 186,874     $ 181,354     $ 158,763     $ 171,606     $ 140,823  
    Tangible book value per common share4 $ 31.49     $ 30.62     $ 26.93     $ 29.07     $ 23.98  
    Tangible common equity to total assets   11.5 %     11.1 %     9.7 %     10.6 %     8.7 %
    Gross loans to deposits   74.7 %     73.6 %     76.4 %     74.1 %     71.9 %
                       
    PLUMAS BANK REGULATORY CAPITAL RATIOS              
    Tier 1 Leverage Ratio   12.7 %     12.3 %     11.3 %     11.9 %     10.8 %
    Common Equity Tier 1 Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Tier 1 Risk-Based Capital Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Total Risk-Based Capital Ratio   19.2 %     19.0 %     17.6 %     18.5 %     16.9 %
    (1) The Company paid a quarterly cash dividend of $0.30 per share on February 17, 2025, May 15, 2025 and a quarterly cash dividend of $0.27 per share on February 15, 2024, May 15, 2024, August 15, 2024 and November 15, 2024 and a quarterly cash dividend of $0.25 per share on February 15, 2023, May 15, 2023 , August 15, 2023 and November 15, 2023.
    (2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).   
    (3) Tangible common equity is defined as common equity less core deposit intangibles and goodwill.      
    (4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding.    
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Three Months Ended   For the Three Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,020,004   $ 15,612   6.14 %   $ 980,723   $ 15,412   6.32 %
    Investment securities     369,624     3,913   4.25 %     367,841     3,932   4.30 %
    Non-taxable investment securities (1)     72,719     591   3.26 %     76,275     602   3.17 %
    Interest-bearing deposits     46,368     517   4.47 %     88,607     1,214   5.51 %
    Total interest-earning assets     1,508,715     20,633   5.48 %     1,513,446     21,160   5.62 %
    Cash and due from banks     26,880             26,859        
    Other assets     87,117             90,092        
    Total assets   $ 1,622,712           $ 1,630,397        
                             
    Interest-bearing liabilities:                        
    Money market deposits     287,707     1,283   1.79 %     215,614     468   0.87 %
    Savings deposits     298,989     257   0.34 %     322,919     174   0.22 %
    Time deposits     118,057     744   2.53 %     94,684     674   2.86 %
    Total deposits     704,753     2,284   1.30 %     633,217     1,316   0.84 %
    Borrowings     15,000     146   3.90 %     120,000     1,431   4.80 %
    Other interest-bearing liabilities     17,265     20   0.46 %     16,809     8   0.19 %
    Total interest-bearing liabilities     737,018     2,450   1.33 %     770,026     2,755   1.44 %
    Non-interest-bearing deposits     659,554             663,094        
    Other liabilities     37,112             37,794        
    Shareholders’ equity     189,028             159,483        
    Total liabilities & equity   $ 1,622,712           $ 1,630,397        
    Cost of funding interest-earning assets (4)           0.65 %           0.73 %
    Net interest income and margin (5)       $ 18,183   4.83 %       $ 18,405   4.89 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $4.1 million for 2025 and $4.2 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the three-month periods ended June 30, 2025 and 2024 were $196 thousand and $338 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the six-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Six Months Ended   For the Six Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,016,008   $ 31,008   6.15 %   $ 972,427   $ 30,005   6.21 %
    Investment securities     369,376     7,840   4.28 %     369,815     7,537   4.10 %
    Non-taxable investment securities (1)     73,795     1,174   3.21 %     92,225     1,393   3.04 %
    Interest-bearing deposits     53,845     1,201   4.50 %     81,807     2,252   5.54 %
    Total interest-earning assets     1,513,024     41,223   5.49 %     1,516,274     41,187   5.46 %
    Cash and due from banks     26,679             26,722        
    Other assets     86,732             85,300        
    Total assets   $ 1,626,435           $ 1,628,296        
                             
    Interest-bearing liabilities:                        
    Money market deposits     283,469     2,429   1.73 %     213,399     844   0.80 %
    Savings deposits     311,151     463   0.30 %     329,242     354   0.22 %
    Time deposits     103,304     1,288   2.51 %     93,092     1,304   2.82 %
    Total deposits     697,924     4,180   1.21 %     635,733     2,502   0.79 %
    Borrowings     15,000     290   3.90 %     117,170     2,798   4.80 %
    Other interest-bearing liabilities     19,216     31   0.33 %     19,260     25   0.26 %
    Total interest-bearing liabilities     732,140     4,501   1.24 %     772,163     5,325   1.39 %
    Non-interest-bearing deposits     670,961             668,441        
    Other liabilities     37,602             31,118        
    Shareholders’ equity     185,732             156,574        
    Total liabilities & equity   $ 1,626,435           $ 1,628,296        
    Cost of funding interest-earning assets (4)           0.60 %           0.70 %
    Net interest income and margin (5)       $ 36,722   4.89 %       $ 35,862   4.76 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $3.9 million for 2025 and $4.8 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the six-month periods ended June 30, 2025 and 2024 were $471 thousand and $682 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Interchange income $ 784   $ 782     2     0.3 %
    Service charges on deposit accounts   781     743     38     5.1 %
    Loan servicing fees   148     186     (38 )   (20.4 )%
    FHLB Dividends   135     136     (1 )   (0.7 )%
    Earnings on life insurance policies   108     104     4     3.8 %
    Other   405     251     154     61.4 %
    Total non-interest income $ 2,361   $ 2,202   $ 159     7.2 %
                   
    The following table presents the components of non-interest expense for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 5,553   $ 5,283   $ 270     5.1 %
    Occupancy and equipment   2,050     1,949     101     5.2 %
    Outside service fees   1,160     1,184     (24 )   (2.0 )%
    Merger and acquisition expenses   481     –     481     100.0 %
    Advertising and shareholder relations   273     214     59     27.6 %
    Armored car and courier   224     220     4     1.8 %
    Professional fees   219     329     (110 )   (33.4 )%
    Business development   188     210     (22 )   (10.5 )%
    Deposit insurance   180     185     (5 )   (2.7 )%
    Director compensation and expense   155     199     (44 )   (22.1 )%
    Telephone and data communication   124     204     (80 )   (39.2 )%
    Loan collection expenses   51     117     (66 )   (56.4 )%
    Amortization of Core Deposit Intangible   44     51     (7 )   (13.7 )%
    Other   310     251     59     23.5 %
    Total non-interest expense $ 11,012   $ 10,396   $ 616     5.9 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Service charges on deposit accounts $ 1,486   $ 1,458     $ 28     1.9 %
    Interchange income   1,474     1,522       (48 )   (3.2 )%
    Loan servicing fees   334     388       (54 )   (13.9 )%
    FHLB Dividends   272     273       (1 )   (0.4 )%
    Earnings on life insurance policies   217     200       17     8.5 %
    Gain (loss) on sale of investment securities   3     (19,826 )     19,829     (100.0 )%
    Gain on sale of buildings   –     19,854       (19,854 )   (100.0 )%
    Other   1,788     473       1,315     278.0 %
    Total non-interest income $ 5,574   $ 4,342     $ 1,232     28.4 %
                   
    The following table presents the components of non-interest expense for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 11,433   $ 10,649     $ 784     7.4 %
    Occupancy and equipment   4,064     3,639       425     11.7 %
    Outside service fees   2,424     2,316       108     4.7 %
    Merger and acquisition expenses   1,050     –       1,050     100.0 %
    Advertising and shareholder relations   535     458       77     16.8 %
    Professional fees   448     768       (320 )   (41.7 )%
    Armored car and courier   441     422       19     4.5 %
    Deposit insurance   362     372       (10 )   (2.7 )%
    Business development   355     363       (8 )   (2.2 )%
    Director compensation and expense   321     366       (45 )   (12.3 )%
    Telephone and data communication   298     426       (128 )   (30.0 )%
    Loan collection expenses   122     221       (99 )   (44.8 )%
    Amortization of Core Deposit Intangible   87     102       (15 )   (14.7 )%
    Other   537     691       (154 )   (22.3 )%
    Total non-interest expense $ 22,477   $ 20,793     $ 1,684     8.1 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                     
    The following table shows the distribution of loans by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Commercial   $ 81,118   8.0 %   $ 81,170   8.1 %
    Agricultural     113,850   11.2 %     123,661   12.4 %
    Real estate – residential     11,053   1.1 %     11,755   1.2 %
    Real estate – commercial     673,129   66.1 %     588,332   59.0 %
    Real estate – construction & land     40,798   4.0 %     67,960   6.8 %
    Equity Lines of Credit     41,620   4.1 %     38,446   3.9 %
    Auto     51,487   5.1 %     80,751   8.1 %
    Other     4,791   0.4 %     5,259   0.5 %
    Total Gross Loans   $ 1,017,846   100 %   $ 997,334   100 %
                     
    The following table shows the distribution of Commercial Real Estate loans at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Owner occupied   $ 294,765   43.8 %   $ 240,346   40.9 %
    Investor     378,364   56.2 %     347,986   59.1 %
    Total real estate – commercial   $ 673,129   100 %   $ 588,332   100 %
                     
                     
    The following table shows the distribution of deposits by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Deposits in Each     Deposits in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Deposits   of Period   Total Deposits
        6/30/25   6/30/25   6/30/24   6/30/24
    Non-interest bearing   $ 668,086   48.9 %   $ 670,652   51.4 %
    Money Market     281,516   20.6 %     214,063   16.4 %
    Savings     290,440   21.2 %     322,081   24.7 %
    Time     126,785   9.3 %     97,791   7.5 %
    Total Deposits   $ 1,366,827   100 %   $ 1,304,587   100 %
                     

    The MIL Network –

  • MIL-OSI: Plumas Bancorp Reports Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., July 16, 2025 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank, today announced earnings during the second quarter of 2025 of $6.3 million or $1.07 per share, a decrease of $465 thousand from $6.8 million or $1.15 per share during the second quarter of 2024. Diluted earnings per share decreased to $1.05 per share during the three months ended June 30, 2025 down from $1.14 per share during the quarter ended June 30, 2024.

    Return on average assets was 1.56% during the current quarter, down from 1.67% during the second quarter of 2024. Return on average equity decreased to 13.4% for the three months ended June 30, 2025, down from 17.1% during the second quarter of 2024.

    Net interest income decreased by $222 thousand from $18.4 million during the three months ended June 30, 2024, to $18.2 million during the current quarter. The provision for credit losses decreased from $925 thousand during the second quarter of 2024 to $860 thousand during the current quarter.

    Non-interest income increased by $159 thousand from $2.2 million during the three months ended June 30, 2024 to $2.4 million during the second quarter of 2025.

    Non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. Of this amount, $481 thousand relates to costs associated with our acquisition of Cornerstone Community Bancorp. We signed a definitive agreement to acquire Cornerstone Community Bancorp on January 28, 2025 and we completed the merger on July 1, 2025. Merger transaction costs that facilitate the merger are not deductible for income tax purposes. Of the $481 thousand in merger related costs, $239 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes decreased by $149 thousand from $2.5 million, 26.9% of pre-tax income, during the three months ended June 30, 2024 to $2.4 million, or 27.1% of pre-tax income, during the current quarter.

    For the six months ended June 30, 2025, the Company reported net income of $13.5 million or $2.28 per share, an increase of $461 thousand from $13.0 million or $2.21 per share earned during the six months ended June 30, 2024. Earnings per diluted share increased to $2.25 during the six months ended June 30, 2025, up $0.06 from $2.19 during the first six months of 2024.     

    Return on average assets was 1.67% during the six months ended June 30, 2025, up from 1.61% during the first half of 2024. Return on average equity decreased to 14.7% for the six months ended June 30, 2025, down from 16.7% during the first half of 2024.

    Net interest income increased by $860 thousand from $35.9 million during the six months ended June 30, 2024, to $36.7 million during the current period. The provision for credit losses decreased from $1.7 million during the first half of 2024 to $1.1 million during the current period.

    Non-interest income increased by $1.2 million from $4.3 million during the six months ended June 30, 2024 to $5.5 million during the first half of 2025 related primarily to a legal settlement totaling $1.1 million. This settlement related to the Dixie Fire which swept through the town of Greenville, California in August of 2021. The fire caused severe damage to the Greenville area, including the telecommunications infrastructure which adversely affected our ability to service our customers in this area during the last few years.

    Non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. Of this amount, $1.1 million relates to costs associated with our pending acquisition of Cornerstone Community Bancorp. Of the $1.1 million in merger related costs, $801 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes increased by $583 thousand from $4.6 million, or 26.2% of pre-tax income, during the six months ended June 30, 2024 to $5.2 million, or 27.8% of pre-tax income, during the current period.

    Balance Sheet Highlights
    June 30, 2025 compared to June 30, 2024

    • Gross loans increased by $21 million, or 2%, to $1.0 billion.
    • Total deposits increased by $62 million, or 5%, to $1.4 billion.
    • Borrowings decreased by $105 million, or 88% to $15 million.
    • Total equity increased by $28 million, or 17%, to $193 million.
    • Book value per share increased by $4.53, or 16%, to $32.54.

    President’s Comments

    Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp and Plumas Bank, announced, “The third quarter of 2025 began with a major development for Plumas; we successfully completed our acquisitions of Cornerstone Community Bank and Bancorp, expanding our presence in California’s northern Sacramento Valley. We are thrilled to have Ken Robison, formerly a director at Cornerstone, join the boards of Plumas Bancorp and Bank. We also welcome Matt Moseley, former President and CEO of Cornerstone Community Bank, to the executive team as Market President. Their extensive leadership experience and market knowledge will be instrumental in the ongoing success of our combined organization.”

    Ryback continued, “Beyond the acquisition, we have also been focused on internal advancements. We are expanding our treasury management services to provide comprehensive, personalized banking solutions with enhanced security features. Simultaneously, we have gained efficiency in our lending process through on-going refinements to our lending platforms and department structures.”

    Ryback concluded, “We extend a warm welcome to the clients, employees, and shareholders of Cornerstone. We look forward to providing long-term value to our expanded shareholders, clients, team members, and communities.”

    Loans, Deposits, Investments and Cash

    Gross loans increased by $21 million, or 2%, from $997 million at June 30, 2024, to $1.0 billion at June 30, 2025. Increases in loans included $85 million in commercial real estate loans and $3 million in equity lines of credit; these items were partially offset by decreases of $29 million in automobile loans, $27 million in construction loans, $10 million in agricultural loans and $1 million in residential real estate loans.

    On   June 30, 2025, approximately 78% of the Company’s loan portfolio was comprised of variable rate loans. The rates of interest charged on variable rate loans are set at specific increments in relation to the Company’s lending rate or other indexes such as the published prime interest rate or U.S. Treasury rates and vary with changes in these indexes. The frequency at which variable rate loans reprice can vary from one day to several years. Most of our commercial real estate portfolio reprices every five years. Approximately 76% of the variable rate loans are indexed to the five year T-Bill rate and reprice every five years. Loans indexed to the prime interest rate were approximately 21% of the Company’s variable rate loan portfolio; these loans reprice within one day to three months of a change in the prime rate.

    Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. The increase in deposits includes increases of $67 million in money market accounts and $29 million in time deposits. Partially offsetting these increases were decreases of $2 million in demand deposits and $32 million in savings deposits. We attribute much of the increase in money market accounts to higher rate public entity deposits. At June 30, 2025, 49% of the Company’s deposits were in the form of non-interest-bearing demand deposits. The Company had no brokered deposits at June 30, 2025 and June 30, 2024.

    Total investment securities decreased by $5 million from $445 million at June 30, 2024, to $440 million at June 30, 2025. The Bank’s investment security portfolio consists of debt securities issued by US Government agencies, US Government sponsored agencies and municipalities. Cash and due from banks decreased by $31 million from $110 million at June 30, 2024, to $79 million at June 30, 2025.

    Asset Quality

    Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) at June 30, 2025 were $13.7 million, up from $9.1 million at June 30, 2024. Nonperforming assets as a percentage of total assets increased to 0.84% at June 30, 2025 up from 0.56% at June 30, 2024. OREO decreased by $50 thousand from $141 thousand at June 30, 2024 to $91 thousand at June 30, 2025. Nonperforming loans were $13.6 million at June 30, 2025 and $9.0 million at June 30, 2024. Nonaccrual loans totaled $13.6 million at June 30, 2025 and $2.5 million at June 30, 2024. At June 30, 2025 there were no loans 90 days or more past due that were not on nonaccrual. The difference between the $2.5 million in nonaccrual loans at June 30, 2024 and the $9 million in nonperforming loans in 2024 were loans that were over 90 days past due, but not on nonaccrual. Nonperforming loans as a percentage of total loans increased to 1.34% at June 30, 2025, up from 0.90% at June 30, 2024. The increase in nonperforming loans is related to one agricultural loan relationship of 15 loans totaling $9.9 million. The borrower on these loans was unable to meet his commitments under modified loan agreements and therefore during the quarter we placed the loans on nonaccrual status. Interest reversed on these loans during the current quarter totaled $344 thousand and specific loan loss reserves totaling $931 thousand were applied against the loans.

    During the first half of 2025 we recorded a provision for credit losses of $1.1 million consisting of a provision for credit losses on loans of $1.1 million and a decrease in the reserve for unfunded commitments of $40 thousand. The $1.1 million mostly relates to the specific loan loss reserves noted in the previous paragraph. This compares to a provision for credit losses of $1.7 million consisting of a provision for credit losses on loans of $1.8 million and a decrease in the reserve for unfunded commitments of $79 thousand during the six months ended June 30, 2024.

    Net charge-offs totaled $137 thousand and $610 thousand during the six months ended June 30, 2025 and 2024, respectively. The allowance for credit losses totaled $14.2 million at June 30, 2025 and $14.1 million at June 30, 2024. The allowance for credit losses as a percentage of total loans was 1.39% and 1.41% at June 30, 2025 and 2024.

    The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the six months ended June 30, 2025 and 2024 (in thousands).

    Allowance for Credit Losses   June 30, 2025     June 30, 2024
    Balance, beginning of period $ 13,196     $ 12,867  
    Provision charged to operations   1,150       1,825  
    Losses charged to allowance   (506 )     (1,010 )
    Recoveries                                   369       400  
    Balance, end of period $     14,209     $     14,082  
    Reserve for Unfunded
    Commitments    		  

    June 30, 2025

    		    

    June 30, 2024
    Balance, beginning of period $                                620     $ 799  
    Provision charged to operations   (40 )     (79 )
    Balance, end of period $                                 580     $ 720  

    Shareholders’ Equity

    Total shareholders’ equity increased by $27.9 million from $165.2 million at June 30, 2024, to $193.1 million at June 30, 2025. The $27.9 million includes earnings during the twelve-month period totaling $29.1 million, a decrease in accumulated other comprehensive loss of $4.4 million and restricted stock and stock option activity totaling $1.1 million. These items were partially offset by the payment of cash dividends totaling $6.7 million.

    Bank Term Funding Program (BTFP)

    At June 30, 2024, the Company had outstanding borrowings under BTFP totaling $105 million. All BTFP borrowings were paid off during 2024. Interest expense recognized on the BTFP borrowings for the three and six-months ended June 30, 2024, was $1.3 million and $2.5 million, respectively.

    Liquidity

    The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers’ borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive rates on deposit products and the use of established credit lines.

    The Company is a member of the Federal Home Loan Bank of San Francisco (FHLB) and can borrow up to $255 million from the FHLB secured by commercial and residential mortgage loans with carrying values totaling $439 million. The Company is also eligible to borrow at the Federal Reserve Bank (FRB) Discount Window. At June 30, 2025, the Company could borrow up to $98 million at the Discount Window secured by investment securities with a fair value of $101 million. In addition to its FHLB borrowing line and the Discount Window, the Company has unsecured short-term borrowing agreements with two of its correspondent banks in the amounts of $50 million and $20 million. There were no outstanding borrowings to the FHLB, FRB Discount Window or the correspondent banks at June 30, 2025 and 2024.

    Customer deposits are the Company’s primary source of funds. Total deposits increased by $62 million to $1.4 billion at June 30, 2025 from $1.3 billion at June 30, 2024. Deposits are held in various forms with varying maturities. The Company estimates that it has approximately $516 million in uninsured deposits which include uninsured deposits of Plumas Bancorp. Of this amount, $206 million represents deposits that are collateralized such as deposits of states, municipalities and tribal accounts.

    The Company’s securities portfolio, Discount Window advances, FHLB advances, and cash and due from banks serve as the primary sources of liquidity, providing adequate funding for loans during periods of high loan demand. During periods of decreased lending, funds obtained from the maturing or sale of investments, loan payments, and new deposits are invested in short-term earning assets, such as cash held at the FRB and investment securities, to serve as a source of funding for future loan growth. Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the near future.

    Net Interest Income and Net Interest Margin – Three Months Ended June 30, 2025

    Net interest income was $18.2 million for the three months ended June 30, 2025, a decrease of $222 thousand from the same period in 2024. The decrease in net interest income includes a decrease of $527 thousand in interest income partially offset by a decrease of $305 thousand in interest expense. Interest and fees on loans increased by $200 thousand related to growth in the loan portfolio partially offset by a decline in yield.

    Average loan balances increased by $39 million, while the average yield on these loans decreased by 18 basis points from 6.32% during the second quarter of 2024 to 6.14% during the current quarter. Of the 18 basis points decrease, 13 basis points relate to the reversal of $344 thousand in interest previously described under “Asset Quality” The average prime interest rate decreased from 8.5% during the second quarter of 2024 to 7.5% during the current quarter. Approximately 16% of the Company’s loans are tied to the prime interest rate and most of these reprice within one to three months with a change in prime. Additionally, during the second quarter of 2024 we recovered $316 thousand in interest on loans that were classified as nonaccrual and which were paid off in full during the quarter which elevated loan yield during the 2024 quarter. The effect of these items was partially offset by an increase in average yield on the bank’s fixed rate portfolio which includes growth in fixed rate SBA loans which totaled $75 million at June 30, 2025, and $62 million at June 30, 2024. The weighted average rate earned on this portfolio at June 30, 2025, was 8.3%. The Bank is also benefiting from the repricing of a portion of our Commercial Real Estate loans. Most of these loans are indexed to the 5-year Treasury note and reprice every five years.

    Interest on investment securities decreased by $30 thousand as yield on these securities decreased slightly from 4.11% during the 2024 quarter to 4.08% during the current quarter and average investment securities declined from $444 million during the three months ended June 30, 2024 to $442 million during the current quarter.

    Interest on cash balances decreased by $697 thousand related to a decline in average balance of $42 million and a decrease in average rate paid on cash balances of 104 basis points from 5.51% during the second quarter of 2024 to 4.47% during the current quarter. This decline in yield was mostly related to a decline in rate paid on balances held at the FRB. The average rate earned on FRB balances decreased from 5.40% during the second quarter of 2024 to 4.40% during the current quarter.

    Interest expense decreased by $305 thousand, related to the repayment of the BTFP borrowings as discussed earlier. The average rate paid on interest bearing liabilities decreased from 1.44% during the 2024 quarter to 1.33% in 2025 related to the decrease in these borrowings.

    Interest paid on deposits increased by $968 thousand and is broken down by product type as follows: money market accounts – $815 thousand, savings deposits – $83 thousand and time deposits $70 thousand. The increase in interest paid on money market accounts mostly relates to an increase in public entity balances and the rate earned on these balances. During the second half of 2024 and continuing into 2025, we have offered a premium money market rate on large balances of public entities in our service area, matching the rate they could earn from the California local agency investment fund. This has led to the significant increase in balances and rate paid on money market accounts. The average balance of money market accounts during the current quarter was $288 million, an increase of $72 million from $216 million during the three months ended June 30, 2024. The average rate paid on money market accounts increased 92 basis points to 1.79%. The increase in interest on savings accounts was driven by an increase in the average rate paid of 12 basis points to 34 basis points. The increase in interest on time deposits includes an increase in average balance of $23 million partially offset by a decline in average rate paid of 33 basis points to 2.53% as promotional time deposits issued in 2024 matured. Many of these promotional time deposits were renewed at lower rates. The average rate paid on interest-bearing deposits increased from 0.84% during the second quarter of 2024 to 1.30% during the current quarter. The average balance of interest-bearing deposits increased from $633 million during the three months ended June 30, 2024 to $705 million during the quarter.

    Net interest margin for the three months ended June 30, 2025 decreased 6 basis points to 4.83%, down from 4.89% for the same period in 2024. Excluding the $344 thousand in interest reversed described earlier, net interest margin for the three months ended June 30, 2025 would have been 4.93%.

    Net Interest Income and Net Interest Margin – Six Months Ended June 30, 2025

    Net interest income for the six months ended June 30, 2025 was $36.7 million, an increase of $860 thousand from the $35.9 million earned during the same period in 2024. The increase in net interest income includes an increase of $36 thousand in interest income and a reduction in interest expense of $824 thousand.

    Interest and fees on loans increased by $1.0 million related to an increase in average balance partially offset by a decline in yield. The average balance of loans during the six months ended June 30, 2025 was $1.0 billion, an increase of $44 million from $972 million during the same period in 2024. The average yield on loans decreased by 6 basis points from 6.21% during the first six months of 2024 to 6.15% during the current period.

    Interest on investment securities increased by $84 thousand related to an increase in yield of 21 basis points to 4.10% partially offset by a decline in average balance. The increase in investment yields is consistent with the increase in market rates and the restructuring of the investment portfolio in February of 2024. Average investment securities declined from $462 million during the six months ended June 30, 2024 to $443 million during the current period.

    Interest on cash balances declined by $1.1 million related to both a decline in balance and a decline in yield. The rate earned on cash balances declined by 104 basis points to 4.5% and the average balance declined from $81.8 million during the first six months of 2024 to $53.8 million during the current period.

    Related to a $2.5 million decline in interest on BTFP borrowings partially offset by an increase in interest bearing deposits and an increase in the cost of these deposits, interest expense decreased from $5.3 million during the six months ended June 30, 2024 to $4.5 million during the current period. The average rate paid on interest bearing liabilities decreased from 1.39% during the 2024 period to 1.24% in 2025.

    Interest paid on deposits increased by $1.7 million and is broken down by product type as follows: money market accounts – $1.6 million and savings deposits – $109 thousand. The average rate paid on interest-bearing deposits increased from 0.79% during the six months ended June 30, 2024 to 1.21% during the current period. Average interest-bearing deposits totaled $698 million during the first half of 2025 an increase of $62 million from $636 million during the first half of 2024.

    Net interest margin for the six months ended June 30, 2025 increased 13 basis points to 4.89%, up from 4.76% for the same period in 2024.

    Non-Interest Income/Expense – Three Months Ended June 30, 2025

    Non-interest income increased by $159 thousand to $2.4 million during the current quarter. The largest increase was related to a $184 thousand adjustment to the value of our stock holdings in one of our correspondent banks.

    During the three months ended June 30, 2025, total non-interest expense increased by $616 thousand from $10.4 million during the second quarter of 2024 to $11.0 million during the current quarter. The largest components of this increase were merger related expenses of $481 thousand and salary and benefit expense of $270 thousand. The increase in salary and benefit expense includes an increase in salary expense of $216 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $144 thousand was offset by a decline in commission expense of $180 thousand. Both items mostly relate to a decline in SBA loan production during the comparison quarters.

    Non-Interest Income/Expense – Six Months Ended June 30, 2025

    During the six months ended June 30, 2025, non-interest income totaled $5.6 million, an increase of $1.2 million from the six months ended June 30, 2024. The largest component of this increase was a legal settlement totaling $1.1 million related to the Dixie Fire in August of 2021.

    During the six months ended June 30, 2025, total non-interest expense increased by $1.7 million from $20.8 million during the first half of 2024 to $22.5 million during the current period. The largest components of this increase were merger related expenses of $1.1 million, salary and benefit expenses of $784 thousand and occupancy and equipment expenses of $425 thousand. The increase in salary and benefit expense included an increase in salary expense of $484 thousand related primarily to merit and promotional salary increases. A decrease in deferred loan origination fees of $257 thousand was offset by a decline in commission expense of $317 thousand. Both items mostly relate to a decline in SBA loan production during the comparison periods. The increase in occupancy and equipment expense mostly relates to an increase in rent expense of $374 thousand related to the February 2024 sales/leaseback transaction. Partially offsetting these increases in expense were several reductions in non-interest expense the largest of which was a reduction in professional fees of $320 thousand. Included in professional fees during the six months ended June 30, 2024 were legal expenses totaling $188 thousand related to a litigation matter that was settled in the second half of 2024.

    Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The bank operates nineteen branches: seventeen located in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sutter and Tehama and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates two loan production offices located in Auburn, California and Klamath Falls, Oregon. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.

    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

    Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

    Contact: Jamie Huynh
    Investor Relations
    Plumas Bancorp
    5525 Kietzke Lane Ste. 100
    Reno, NV 89511
    775.786.0907 x8908
    investorrelations@plumasbank.com

    PLUMAS BANCORP
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
      As of June 30,        
      2025   2024   Dollar
    Change    		   Percentage
    Change
    ASSETS              
    Cash and due from banks $ 79,266   $ 109,852   $ (30,586)   (27.8)%
    Investment securities 439,676   445,132   (5,456)   (1.2)%
    Loans, net of allowance for credit losses 1,006,873   986,517   20,356   2.1%
    Premises and equipment, net 12,065   12,868   (803)   (6.2)%
    Right-of-use assets 23,912   24,975   (1,063)   (4.3)%
    Bank owned life insurance 16,736   16,310   426   2.6%
    Real estate acquired through foreclosure 91   141   (50)   (35.5)%
    Goodwill 5,502   5,502   –   0.0%
    Accrued interest receivable and other assets 44,396   40,800   3,596   8.8%
    Total assets $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
    LIABILITIES AND              
       SHAREHOLDERS’ EQUITY  
    Deposits $ 1,366,827   $ 1,304,587   $ 62,240   4.8%
    Accrued interest payable and other liabilities 53,611   52,355   1,256   2.4%
    Borrowings 15,000   120,000   (105,000)   (87.5)%
    Total liabilities 1,435,438   1,476,942   (41,504)   (2.8)%
    Common stock 29,803   28,656   1,147   4.0%
    Retained earnings 183,954   161,608   22,346   13.8%
    Accumulated other comprehensive loss, net (20,678)   (25,109)   4,431   17.6%
    Shareholders’ equity 193,079   165,155   27,924   16.9%
    Total liabilities and shareholders’ equity $ 1,628,517   $ 1,642,097   $ (13,580)   (0.8)%
                   
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
                   
    FOR THE THREE MONTHS ENDED JUNE 30, 2025   2024   Dollar
    Change    		   Percentage
    Change
                   
    Interest income $ 20,633   $ 21,160   $ (527)   (2.5)%
    Interest expense 2,450   2,755   (305)   (11.1)%
    Net interest income before provision for credit losses 18,183   18,405   (222)   (1.2)%
    Provision for credit losses 860   925   (65)   (7.0)%
    Net interest income after provision for credit losses 17,323   17,480   (157)   (0.9)%
    Non-interest income 2,361   2,202   159   7.2%
    Non-interest expense 11,012   10,396   616   5.9%
    Income before income taxes 8,672   9,286   (614)   (6.6)%
    Provision for income taxes 2,351   2,500   (149)   (6.0)%
    Net income $ 6,321   $ 6,786   $ (465)   (6.9)%
                   
    Basic earnings per share $ 1.07   $ 1.15   $ (0.08)   (7.0)%
    Diluted earnings per share $ 1.05   $ 1.14   $ (0.09)   (7.9)%
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
              Dollar   Percentage
    FOR THE SIX MONTHS ENDED JUNE 30, 2025   2024   Change   Change
                   
    Interest income $ 41,223   $ 41,187   $ 36   0.1%
    Interest expense 4,501   5,325   (824)   (15.5)%
    Net interest income before provision for credit losses 36,722   35,862   860   2.4%
    Provision for credit losses 1,110   1,746   (636)   (36.4)%
    Net interest income after provision for credit losses 35,612   34,116   1,496   4.4%
    Non-interest income 5,574   4,342   1,232   28.4%
    Non-interest expense 22,477   20,793   1,684   8.1%
    Income before income taxes 18,709   17,665   1,044   5.9%
    Provision for income taxes 5,208   4,625   583   12.6%
    Net income $ 13,501   $ 13,040   $ 461   3.5%
                   
    Basic earnings per share $ 2.28   $ 2.21   $ 0.07   3.2%
    Diluted earnings per share $ 2.25   $ 2.19   $ 0.06   2.7%
             
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands, except per share data)
    (Unaudited)
                       
      Three Months Ended   Six Months Ended
      6/30/2025   3/31/2025   6/30/2024   6/30/2025   6/30/2024
    EARNINGS PER SHARE                  
    Basic earnings per share $ 1.07     $ 1.21     $ 1.15     $ 2.28     $ 2.21  
    Diluted earnings per share $ 1.05     $ 1.20     $ 1.14     $ 2.25     $ 2.19  
    Weighted average shares outstanding   5,929       5,911       5,896       5,920       5,892  
    Weighted average diluted shares outstanding   6,006       6,002       5,946       6,006       5,946  
    Cash dividends paid per share 1 $ 0.30     $ 0.30     $ 0.27     $ 0.60     $ 0.54  
                       
    PERFORMANCE RATIOS (annualized for the three months)            
    Return on average assets   1.56 %   1.79 %   1.67 %   1.67 %     1.61 %
    Return on average equity   13.4 %   16.0 %   17.1 %   14.7 %     16.7 %
    Yield on earning assets   5.48 %   5.50 %   5.62 %   5.49 %     5.46 %
    Rate paid on interest-bearing liabilities   1.33 %   1.14 %   1.44 %   1.24 %     1.39 %
    Net interest margin   4.83 %   4.95 %   4.89 %   4.89 %     4.76 %
    Noninterest income to average assets   0.58 %   0.80 %   0.54 %   0.69 %     0.54 %
    Noninterest expense to average assets   2.72 %   2.85 %   2.56 %   2.79 %     2.57 %
    Efficiency ratio 2   53.6 %   52.7 %   50.4 %   53.1 %     51.7 %
                       
      6/30/2025   3/31/2025   6/30/2024   12/31/2024   12/31/2023
    CREDIT QUALITY RATIOS AND DATA                  
    Allowance for credit losses $ 14,209     $ 13,319     $ 14,082     $ 13,196     $ 12,867  
    Allowance for credit losses as a percentage of total loans   1.39 %     1.32 %     1.41 %     1.30 %     1.34 %
    Nonperforming loans $ 13,652     $ 3,686     $ 8,974     $ 4,105     $ 4,820  
    Nonperforming assets $ 13,747     $ 3,787     $ 9,148     $ 4,307     $ 5,315  
    Nonperforming loans as a percentage of total loans   1.34 %     0.36 %     0.90 %     0.40 %     0.50 %
    Nonperforming assets as a percentage of total assets   0.84 %     0.23 %     0.56 %     0.27 %     0.33 %
    Year-to-date net charge-offs $ 137     $ 127     $ 610     $ 1,046     $ 954  
    Year-to-date net charge-offs as a percentage of average   0.03 %     0.05 %     0.13 %   0.11 %     0.10 %
    loans (annualized)      
                       
    CAPITAL AND OTHER DATA                  
    Common shares outstanding at end of period   5,934       5,922       5,896       5,903       5,872  
    Shareholders’ equity $ 193,079     $ 187,603     $ 165,155     $ 177,899     $ 147,317  
    Book value per common share $ 32.54     $ 31.68     $ 28.01     $ 30.14     $ 25.09  
    Tangible common equity3 $ 186,874     $ 181,354     $ 158,763     $ 171,606     $ 140,823  
    Tangible book value per common share4 $ 31.49     $ 30.62     $ 26.93     $ 29.07     $ 23.98  
    Tangible common equity to total assets   11.5 %     11.1 %     9.7 %     10.6 %     8.7 %
    Gross loans to deposits   74.7 %     73.6 %     76.4 %     74.1 %     71.9 %
                       
    PLUMAS BANK REGULATORY CAPITAL RATIOS              
    Tier 1 Leverage Ratio   12.7 %     12.3 %     11.3 %     11.9 %     10.8 %
    Common Equity Tier 1 Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Tier 1 Risk-Based Capital Ratio   17.9 %     17.8 %     16.4 %     17.3 %     15.7 %
    Total Risk-Based Capital Ratio   19.2 %     19.0 %     17.6 %     18.5 %     16.9 %
    (1) The Company paid a quarterly cash dividend of $0.30 per share on February 17, 2025, May 15, 2025 and a quarterly cash dividend of $0.27 per share on February 15, 2024, May 15, 2024, August 15, 2024 and November 15, 2024 and a quarterly cash dividend of $0.25 per share on February 15, 2023, May 15, 2023 , August 15, 2023 and November 15, 2023.
    (2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).   
    (3) Tangible common equity is defined as common equity less core deposit intangibles and goodwill.      
    (4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding.    
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Three Months Ended   For the Three Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,020,004   $ 15,612   6.14 %   $ 980,723   $ 15,412   6.32 %
    Investment securities     369,624     3,913   4.25 %     367,841     3,932   4.30 %
    Non-taxable investment securities (1)     72,719     591   3.26 %     76,275     602   3.17 %
    Interest-bearing deposits     46,368     517   4.47 %     88,607     1,214   5.51 %
    Total interest-earning assets     1,508,715     20,633   5.48 %     1,513,446     21,160   5.62 %
    Cash and due from banks     26,880             26,859        
    Other assets     87,117             90,092        
    Total assets   $ 1,622,712           $ 1,630,397        
                             
    Interest-bearing liabilities:                        
    Money market deposits     287,707     1,283   1.79 %     215,614     468   0.87 %
    Savings deposits     298,989     257   0.34 %     322,919     174   0.22 %
    Time deposits     118,057     744   2.53 %     94,684     674   2.86 %
    Total deposits     704,753     2,284   1.30 %     633,217     1,316   0.84 %
    Borrowings     15,000     146   3.90 %     120,000     1,431   4.80 %
    Other interest-bearing liabilities     17,265     20   0.46 %     16,809     8   0.19 %
    Total interest-bearing liabilities     737,018     2,450   1.33 %     770,026     2,755   1.44 %
    Non-interest-bearing deposits     659,554             663,094        
    Other liabilities     37,112             37,794        
    Shareholders’ equity     189,028             159,483        
    Total liabilities & equity   $ 1,622,712           $ 1,630,397        
    Cost of funding interest-earning assets (4)           0.65 %           0.73 %
    Net interest income and margin (5)       $ 18,183   4.83 %       $ 18,405   4.89 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $4.1 million for 2025 and $4.2 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the three-month periods ended June 30, 2025 and 2024 were $196 thousand and $338 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                             
    The following table presents for the six-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                             
        For the Six Months Ended   For the Six Months Ended
        6/30/2025   6/30/2024
        Average       Yield/   Average       Yield/
        Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                        
    Loans (2) (3)   $ 1,016,008   $ 31,008   6.15 %   $ 972,427   $ 30,005   6.21 %
    Investment securities     369,376     7,840   4.28 %     369,815     7,537   4.10 %
    Non-taxable investment securities (1)     73,795     1,174   3.21 %     92,225     1,393   3.04 %
    Interest-bearing deposits     53,845     1,201   4.50 %     81,807     2,252   5.54 %
    Total interest-earning assets     1,513,024     41,223   5.49 %     1,516,274     41,187   5.46 %
    Cash and due from banks     26,679             26,722        
    Other assets     86,732             85,300        
    Total assets   $ 1,626,435           $ 1,628,296        
                             
    Interest-bearing liabilities:                        
    Money market deposits     283,469     2,429   1.73 %     213,399     844   0.80 %
    Savings deposits     311,151     463   0.30 %     329,242     354   0.22 %
    Time deposits     103,304     1,288   2.51 %     93,092     1,304   2.82 %
    Total deposits     697,924     4,180   1.21 %     635,733     2,502   0.79 %
    Borrowings     15,000     290   3.90 %     117,170     2,798   4.80 %
    Other interest-bearing liabilities     19,216     31   0.33 %     19,260     25   0.26 %
    Total interest-bearing liabilities     732,140     4,501   1.24 %     772,163     5,325   1.39 %
    Non-interest-bearing deposits     670,961             668,441        
    Other liabilities     37,602             31,118        
    Shareholders’ equity     185,732             156,574        
    Total liabilities & equity   $ 1,626,435           $ 1,628,296        
    Cost of funding interest-earning assets (4)           0.60 %           0.70 %
    Net interest income and margin (5)       $ 36,722   4.89 %       $ 35,862   4.76 %
                             
    (1) Not computed on a tax-equivalent basis.            
    (2) Average nonaccrual loan balances of $3.9 million for 2025 and $4.8 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the six-month periods ended June 30, 2025 and 2024 were $471 thousand and $682 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Interchange income $ 784   $ 782     2     0.3 %
    Service charges on deposit accounts   781     743     38     5.1 %
    Loan servicing fees   148     186     (38 )   (20.4 )%
    FHLB Dividends   135     136     (1 )   (0.7 )%
    Earnings on life insurance policies   108     104     4     3.8 %
    Other   405     251     154     61.4 %
    Total non-interest income $ 2,361   $ 2,202   $ 159     7.2 %
                   
    The following table presents the components of non-interest expense for the three-month periods ended June 30, 2025 and 2024.
                   
      For the Three Months Ended        
      June 30,        
        2025     2024   Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 5,553   $ 5,283   $ 270     5.1 %
    Occupancy and equipment   2,050     1,949     101     5.2 %
    Outside service fees   1,160     1,184     (24 )   (2.0 )%
    Merger and acquisition expenses   481     –     481     100.0 %
    Advertising and shareholder relations   273     214     59     27.6 %
    Armored car and courier   224     220     4     1.8 %
    Professional fees   219     329     (110 )   (33.4 )%
    Business development   188     210     (22 )   (10.5 )%
    Deposit insurance   180     185     (5 )   (2.7 )%
    Director compensation and expense   155     199     (44 )   (22.1 )%
    Telephone and data communication   124     204     (80 )   (39.2 )%
    Loan collection expenses   51     117     (66 )   (56.4 )%
    Amortization of Core Deposit Intangible   44     51     (7 )   (13.7 )%
    Other   310     251     59     23.5 %
    Total non-interest expense $ 11,012   $ 10,396   $ 616     5.9 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Service charges on deposit accounts $ 1,486   $ 1,458     $ 28     1.9 %
    Interchange income   1,474     1,522       (48 )   (3.2 )%
    Loan servicing fees   334     388       (54 )   (13.9 )%
    FHLB Dividends   272     273       (1 )   (0.4 )%
    Earnings on life insurance policies   217     200       17     8.5 %
    Gain (loss) on sale of investment securities   3     (19,826 )     19,829     (100.0 )%
    Gain on sale of buildings   –     19,854       (19,854 )   (100.0 )%
    Other   1,788     473       1,315     278.0 %
    Total non-interest income $ 5,574   $ 4,342     $ 1,232     28.4 %
                   
    The following table presents the components of non-interest expense for the six-month periods ended June 30, 2025 and 2024.
                   
      For the Six Months Ended        
      June 30,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 11,433   $ 10,649     $ 784     7.4 %
    Occupancy and equipment   4,064     3,639       425     11.7 %
    Outside service fees   2,424     2,316       108     4.7 %
    Merger and acquisition expenses   1,050     –       1,050     100.0 %
    Advertising and shareholder relations   535     458       77     16.8 %
    Professional fees   448     768       (320 )   (41.7 )%
    Armored car and courier   441     422       19     4.5 %
    Deposit insurance   362     372       (10 )   (2.7 )%
    Business development   355     363       (8 )   (2.2 )%
    Director compensation and expense   321     366       (45 )   (12.3 )%
    Telephone and data communication   298     426       (128 )   (30.0 )%
    Loan collection expenses   122     221       (99 )   (44.8 )%
    Amortization of Core Deposit Intangible   87     102       (15 )   (14.7 )%
    Other   537     691       (154 )   (22.3 )%
    Total non-interest expense $ 22,477   $ 20,793     $ 1,684     8.1 %
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                     
    The following table shows the distribution of loans by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Commercial   $ 81,118   8.0 %   $ 81,170   8.1 %
    Agricultural     113,850   11.2 %     123,661   12.4 %
    Real estate – residential     11,053   1.1 %     11,755   1.2 %
    Real estate – commercial     673,129   66.1 %     588,332   59.0 %
    Real estate – construction & land     40,798   4.0 %     67,960   6.8 %
    Equity Lines of Credit     41,620   4.1 %     38,446   3.9 %
    Auto     51,487   5.1 %     80,751   8.1 %
    Other     4,791   0.4 %     5,259   0.5 %
    Total Gross Loans   $ 1,017,846   100 %   $ 997,334   100 %
                     
    The following table shows the distribution of Commercial Real Estate loans at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Loans in Each       Loans in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Loans   of Period   Total Loans
        6/30/25   6/30/25   6/30/24   6/30/24
    Owner occupied   $ 294,765   43.8 %   $ 240,346   40.9 %
    Investor     378,364   56.2 %     347,986   59.1 %
    Total real estate – commercial   $ 673,129   100 %   $ 588,332   100 %
                     
                     
    The following table shows the distribution of deposits by type at June 30, 2025 and 2024.
                     
            Percent of       Percent of
            Deposits in Each     Deposits in Each
        Balance at End Category to   Balance at End Category to
        of Period   Total Deposits   of Period   Total Deposits
        6/30/25   6/30/25   6/30/24   6/30/24
    Non-interest bearing   $ 668,086   48.9 %   $ 670,652   51.4 %
    Money Market     281,516   20.6 %     214,063   16.4 %
    Savings     290,440   21.2 %     322,081   24.7 %
    Time     126,785   9.3 %     97,791   7.5 %
    Total Deposits   $ 1,366,827   100 %   $ 1,304,587   100 %
                     

    The MIL Network –

  • MIL-OSI Africa: Africa Finance Corporation (AFC) Assigned A+ Rating with Stable Outlook by Japan Credit Rating Agency, Strengthening Access to Asian Capital Markets

    Source: APO – Report:

    .

    Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has been assigned a long-term Issuer credit rating of A+ with a stable outlook by Japan Credit Rating Agency, Ltd (JCR). This rating will enable AFC to continue growing its footprint in Asian capital markets.

    “The credit rating reflects AFC’s leading role in infrastructure development in Africa, the strong support from its member states and shareholders, the benefits of Preferred Creditor Status (PCS), its conservative financial policy, and its strong capital base,” JCR  stated in its  report.“ AFC employs diverse funding channels, including Eurobond issuance in international capital markets; borrowing from MDBs such as the African Development Bank, PROPARCO, DEG/FMO, KFW group, Export-Import Bank of China, Korea Development Bank, etc.; and financing from African, Chinese, European, Indian, Japanese and Middle Eastern private financial institutions.”

    The Japan Credit Rating Agency’s A+ rating reflects AFC’s continued demonstration of solid capital adequacy, maintaining a Capital Adequacy Ratio of 33.6% and improving its Cost-to-Income Ratio to 17.3% in FYE2024. In 2024, AFC delivered remarkable financial results, posting a 22.8% increase in revenue to surpass US$1 billion for the first time, as well as a 16.7% rise in total assets to US$14.41 billion. Liquidity buffers remain well above prudential thresholds, with a liquidity coverage ratio of 194% under normal conditions and 191% on a stressed basis, underscoring AFC’s resilience.

    JCR’s rating decision supports the Corporation’s ability to secure competitive borrowing costs. This financial strength underpins AFC’s ability to deliver transformational infrastructure projects across power, natural resources, transport and logistics, heavy industry, telecommunications, and technology—driving industrialisation and job creation across the continent. A notable example is the Lobito Corridor, where AFC serves as lead developer. Positioned to become one of Africa’s most strategic economic arteries, the corridor will connect Angola’s Port of Lobito on the Atlantic coast to Zambia through modernised rail infrastructure, enhancing regional trade, unlocking mineral value chains, and catalysing cross-border economic integration.

    Other key AFC transactions include a US$150 million investment in the Kamoa-Kakula Copper Complex—Africa’s largest and one of the world’s most sustainable copper producers and leading the commercial financing of a €381.5 million package for the engineering, procurement, and construction of 186 bridges and critical upgrades to Angola’s road network, which will improve connectivity and boost regional trade.

    Leading Japanese financial institutions—Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation have been critical partners supporting AFC on its journey of transforming Africa, participating in multiple funding transactions including bilateral, syndicated and Samurai facilities. This partnership has extended beyond AFC’s own capital-raising efforts to broader support for African issuers. A notable example is the Arab Republic of Egypt’s inaugural Samurai Bond, where AFC acted as re-guarantor and SMBC served as guarantor, facilitating a successful JPY 75 billion private placement.

    “Amidst a challenging global macroeconomic backdrop, this endorsement by JCR affirms AFC’s financial strength and credibility, enhancing our ability to mobilise competitively priced capital for transformative infrastructure projects across Africa,” said Banji Fehintola, Executive Board Member & Head, Financial Services at AFC. “It reinforces our position as a reliable institutional partner for Japan and a key driver of Africa-Japan cooperation.”

    “In the challenging business environment, with increasing geopolitical instability in some African countries, AFC’s role in advancing infrastructure development in Africa as an MDB established by African countries is becoming more important, and support from member states and shareholders is expected to strengthen,” JCR analysts said, commending the Corporation. “AFC conducts appropriate risk management in the challenging business environment in Africa, ensuring strong profitability and building a sound financial structure. AFC has established risk management policies for various risks associated with its operations, including credit risk, market risk, liquidity risk, operational risk, assets and liabilities management (ALM) risk, and environmental/social policy risks,” they further reported.

    Some of AFC’s landmark funding initiatives include the successful issuance of its US$500 million perpetual hybrid bond, the closing of a US$400 million Shariah-compliant Commodity Murabaha, and leading Nigeria’s inaugural domestic dollar bond issuance, which raised over US$900 million, with an oversubscription rate of 180%. These transactions underscore the Corporation’s innovative approach to capital markets, diversifying funding sources and enhancing its ability to finance transformational infrastructure projects across Africa.

    For the full statement from Japan Credit Rating Agency, please click here (https://apo-opa.co/46j2eU9). 

    – on behalf of Africa Finance Corporation (AFC).

    Media Enquiries:
    Yewande Thorpe
    Communications
    Africa Finance Corporation
    Mobile: +234 1 279 9654
    Email: yewande.thorpe@africafc.org

    About AFC:
    AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

    Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. www.AfricaFC.org

    MIL OSI Africa –

  • MIL-OSI Europe: Netherlands: EIB, Rabobank, and DLL partner to provide €1 billion for European SMEs with a focus on sustainability and agriculture

    Source: European Investment Bank

    EIB

    • The European Investment Bank signs two €250 million loan facilities with Rabobank and its subsidiary DLL, aimed at supporting access to finance for European companies.
    • The Rabobank facility targets SMEs and mid-caps in the Netherlands committed to investing in the energy transition and enhancing their organizational sustainability.
    • The DLL facility provides access to finance, in multiple EU countries, to SMEs and mid-caps focused on climate action and sustainability, with an emphasis on circularity, food, and energy transitions.

    Rabobank, DLL, and the European Investment Bank are partnering to increase access to finance for SMEs and mid-caps with a particular emphasis on sustainability and bioeconomy sectors, including agriculture.

    Rabobank will borrow €250 million from the EIB and match this amount with its own funds, making €500 million available to support small-scale projects undertaken by Dutch SMEs and mid-caps, with a focus on sustainability and agriculture. Specifically, at least 40% of investments are earmarked for climate-relevant investments, and at least 40% of the available funding will be directed towards bioeconomy sectors, including agriculture.

    DLL has secured an additional €250 million, which it will also match with its own funds, aiming to improve access to finance for SMEs and mid-caps across the EU. The focus will be on France, Germany, Italy, Spain, Belgium, Sweden, Poland, Ireland, and the Netherlands, targeting investments in sustainability by local companies.

    In total, the combined EIB loans as well as Rabobank and DLL’s matching funds will make €1 billion in new funding available for SMEs and mid-caps, with a particular focus on financing climate-relevant and agricultural projects.

    “It is important to understand that climate financing is a key driver of economic growth,” states EIB Vice President Robert de Groot. “We have to look at the bigger picture, which is that climate change is disrupting business and economic behaviours. We have a long track-record with Rabobank and DLL in terms of climate relevant financing, and hope that this facility can convince other financiers to make available more support for entrepreneurs developing more sustainable projects.”

    Carlo van Kemenade, Director Retail NL and Member of the Managing Board of Rabobank: “We are proud to build on the successful partnership with the EIB and the new launch of impact loans. Sustainability is an important pillar of Rabobank’s strategy. Clients are also very positive about this impact loan. The interest rate discount is both a reward for the impact they have as a leader in sustainability and an encouragement to continue on the path we have set with our clients.”

    “As a transition partner for a better world, DLL believes that sustainability is fundamental to long-term business success,” says Lara Yocarini, Member of the Managing Board, Rabobank, and CEO and Chair of the Executive Board of DLL. “The attractive funding from the European Investment Bank will enhance our ability to provide more accessible, affordable, and tailored leasing solutions, ultimately reducing barriers for our partners and customers to invest in more sustainable equipment and technology.”

    Background information:

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. Over the last ten years, the EIB has made available more than €27 billion in financing for Dutch projects in various sectors, including research & development, transport, drinking water, healthcare, and SMEs.

    The EIB is the European Union’s bank; the only bank owned by and representing the interests of the European Union Member States, The Netherlands owns a 5,2% share of the EIB. It works closely with other EU institutions to implement EU policy and is the world’s largest multilateral borrower and lender. The EIB provides finance and expertise for sustainable investment projects that contribute to EU policy objectives. More than 90% of its activity is in Europe.

    About Rabobank

    Rabobank is an international financial services provider operating on the basis of cooperative principles. It offers retail banking, wholesale banking, private banking, leasing, and real estate services. As a cooperative bank, Rabobank puts customers’ interests first in its services. Rabobank is committed to being a leading customer-focused cooperative bank in the Netherlands and a leading food and agri bank worldwide. Rabobank employed 49,000 FTE per 31 December 2024. Rabobank Group is active in 37 countries.

    About DLL

    DLL is a global asset finance company for equipment and technology with a managed portfolio of more than EUR 47 billion. Founded in 1969 and headquartered in Eindhoven, the Netherlands, DLL provides financial solutions within the Agriculture, Construction, Energy Transition, Food, Healthcare, Industrial, Technology, Transportation, and Workplace industries in more than 25 countries. The company partners with equipment manufacturers, dealers, and distributors to enable easier access to equipment, technology, and software, to support business growth.

    DLL is committed to a more sustainable future for the environment and the communities in which it operates. Combining customer focus and industry knowledge, DLL provides financial solutions for the complete asset life cycle, including commercial finance, retail finance and used equipment finance. DLL is a wholly owned subsidiary of Rabobank Group.

    MIL OSI Europe News –

  • MIL-OSI Banking: OEUK news OEUK: Next offshore wind allocation round must raise 8.4 GW to move UK closer to Clean Power 2030 goals 16 July 2025

    Source: Offshore Energy UK

    Headline: OEUK news

    OEUK: Next offshore wind allocation round must raise 8.4 GW to move UK closer to Clean Power 2030 goals

    16 July 2025

    Accessibility Statement

    • oeuk.org.uk
    • 16 July 2025

    Compliance status

    We firmly believe that the internet should be available and accessible to anyone, and are committed to providing a website that is accessible to the widest possible audience, regardless of circumstance and ability.

    To fulfill this, we aim to adhere as strictly as possible to the World Wide Web Consortium’s (W3C) Web Content Accessibility Guidelines 2.1 (WCAG 2.1) at the AA level. These guidelines explain how to make web content accessible to people with a wide array of disabilities. Complying with those guidelines helps us ensure that the website is accessible to all people: blind people, people with motor impairments, visual impairment, cognitive disabilities, and more.

    This website utilizes various technologies that are meant to make it as accessible as possible at all times. We utilize an accessibility interface that allows persons with specific disabilities to adjust the website’s UI (user interface) and design it to their personal needs.

    Additionally, the website utilizes an AI-based application that runs in the background and optimizes its accessibility level constantly. This application remediates the website’s HTML, adapts Its functionality and behavior for screen-readers used by the blind users, and for keyboard functions used by individuals with motor impairments.

    If you’ve found a malfunction or have ideas for improvement, we’ll be happy to hear from you. You can reach out to the website’s operators by using the following email [email protected]

    Screen-reader and keyboard navigation

    Our website implements the ARIA attributes (Accessible Rich Internet Applications) technique, alongside various different behavioral changes, to ensure blind users visiting with screen-readers are able to read, comprehend, and enjoy the website’s functions. As soon as a user with a screen-reader enters your site, they immediately receive a prompt to enter the Screen-Reader Profile so they can browse and operate your site effectively. Here’s how our website covers some of the most important screen-reader requirements, alongside console screenshots of code examples:

    1. Screen-reader optimization: we run a background process that learns the website’s components from top to bottom, to ensure ongoing compliance even when updating the website. In this process, we provide screen-readers with meaningful data using the ARIA set of attributes. For example, we provide accurate form labels; descriptions for actionable icons (social media icons, search icons, cart icons, etc.); validation guidance for form inputs; element roles such as buttons, menus, modal dialogues (popups), and others. Additionally, the background process scans all the website’s images and provides an accurate and meaningful image-object-recognition-based description as an ALT (alternate text) tag for images that are not described. It will also extract texts that are embedded within the image, using an OCR (optical character recognition) technology. To turn on screen-reader adjustments at any time, users need only to press the Alt+1 keyboard combination. Screen-reader users also get automatic announcements to turn the Screen-reader mode on as soon as they enter the website.

      These adjustments are compatible with all popular screen readers, including JAWS and NVDA.

    2. Keyboard navigation optimization: The background process also adjusts the website’s HTML, and adds various behaviors using JavaScript code to make the website operable by the keyboard. This includes the ability to navigate the website using the Tab and Shift+Tab keys, operate dropdowns with the arrow keys, close them with Esc, trigger buttons and links using the Enter key, navigate between radio and checkbox elements using the arrow keys, and fill them in with the Spacebar or Enter key.Additionally, keyboard users will find quick-navigation and content-skip menus, available at any time by clicking Alt+1, or as the first elements of the site while navigating with the keyboard. The background process also handles triggered popups by moving the keyboard focus towards them as soon as they appear, and not allow the focus drift outside it.

      Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Disability profiles supported in our website

    • Epilepsy Safe Mode: this profile enables people with epilepsy to use the website safely by eliminating the risk of seizures that result from flashing or blinking animations and risky color combinations.
    • Visually Impaired Mode: this mode adjusts the website for the convenience of users with visual impairments such as Degrading Eyesight, Tunnel Vision, Cataract, Glaucoma, and others.
    • Cognitive Disability Mode: this mode provides different assistive options to help users with cognitive impairments such as Dyslexia, Autism, CVA, and others, to focus on the essential elements of the website more easily.
    • ADHD Friendly Mode: this mode helps users with ADHD and Neurodevelopmental disorders to read, browse, and focus on the main website elements more easily while significantly reducing distractions.
    • Blindness Mode: this mode configures the website to be compatible with screen-readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen-reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it.
    • Keyboard Navigation Profile (Motor-Impaired): this profile enables motor-impaired persons to operate the website using the keyboard Tab, Shift+Tab, and the Enter keys. Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Additional UI, design, and readability adjustments

    1. Font adjustments – users, can increase and decrease its size, change its family (type), adjust the spacing, alignment, line height, and more.
    2. Color adjustments – users can select various color contrast profiles such as light, dark, inverted, and monochrome. Additionally, users can swap color schemes of titles, texts, and backgrounds, with over seven different coloring options.
    3. Animations – person with epilepsy can stop all running animations with the click of a button. Animations controlled by the interface include videos, GIFs, and CSS flashing transitions.
    4. Content highlighting – users can choose to emphasize important elements such as links and titles. They can also choose to highlight focused or hovered elements only.
    5. Audio muting – users with hearing devices may experience headaches or other issues due to automatic audio playing. This option lets users mute the entire website instantly.
    6. Cognitive disorders – we utilize a search engine that is linked to Wikipedia and Wiktionary, allowing people with cognitive disorders to decipher meanings of phrases, initials, slang, and others.
    7. Additional functions – we provide users the option to change cursor color and size, use a printing mode, enable a virtual keyboard, and many other functions.

    Browser and assistive technology compatibility

    We aim to support the widest array of browsers and assistive technologies as possible, so our users can choose the best fitting tools for them, with as few limitations as possible. Therefore, we have worked very hard to be able to support all major systems that comprise over 95% of the user market share including Google Chrome, Mozilla Firefox, Apple Safari, Opera and Microsoft Edge, JAWS and NVDA (screen readers).

    Notes, comments, and feedback

    Despite our very best efforts to allow anybody to adjust the website to their needs. There may still be pages or sections that are not fully accessible, are in the process of becoming accessible, or are lacking an adequate technological solution to make them accessible. Still, we are continually improving our accessibility, adding, updating and improving its options and features, and developing and adopting new technologies. All this is meant to reach the optimal level of accessibility, following technological advancements. For any assistance, please reach out to [email protected]

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Aurora Antrim and Jane Hurst have been reappointed to The Royal Parks, and Bronwyn Hill’s second term extended.

    Source: United Kingdom – Executive Government & Departments

    News story

    Aurora Antrim and Jane Hurst have been reappointed to The Royal Parks, and Bronwyn Hill’s second term extended.

    The Secretary of State has reappointed Aurora Antrim and Jane Hurst as Trustees of The Royal Parks and has extended Bronwyn Hill’s second term as Trustee.

    Aurora Antrim

    Reappointed for a 4 year term commencing 14 August 2025 to 13 August 2029.

    Aurora Antrim is an award-winning arts documentary filmmaker who, as Aurora Gunn, spent many years working on The South Bank Show for ITV and Sky making films on subjects ranging from Shakespeare to Tracey Emin to Herbie Hancock.

    Aurora has over 20 years’ experience managing an historic landscape, with a focus on income diversification and sustainability, while overseeing the running of the Glenarm Castle estate in Northern Ireland. Her horticultural experience includes the complete restoration and replanting of an historic walled garden which won, by public vote, the Historic Houses Garden of the Year Award in 2023.

    This is Aurora’s second term on the Board of The Royal Parks where she serves on the HR Committee. She also sits on The Regent’s Park Store Yard Programme Board, responsible for the creation of a brand new garden in The Regent’s Park due to open in 2026.

    Jane Hurst 

    Reappointed for a 4 year term commencing 14 August 2025 to 13 August 2029.

    Jane is a Chartered Accountant and currently CFO of a health tech business. Prior to this she was a partner in KPMG UK with 20 years’ experience of complex restructuring, performance improvement and turnaround. She has worked in a wide range of businesses- from the very large and global to the very small. She has also supported multiple public sector entities undergoing change. 

    Jane has been a trustee at the Royal Parks for four years, she chairs the Audit and Risk Committee and is a member of the Investment Committee.

    Bronwyn Hill CBE

    Second term extended for 9 months from 15 June 2025 to 14 March 2026.

    As Permanent Secretary at the Department for Environment, Food and Rural Affairs from 2011 to 2015, Bronwyn led a complex organisation through transformational change and a series of crises, including the 2012-13 flooding. A CBE for transport services was in recognition of her contribution to national transport strategy, major projects and transport in London. 

    Her interest in the environment and the importance of green spaces for people led to her joining The Royal Parks Board. Bronwyn contributed to its transformation into a successful charity, and on projects like Greenwich Park Revealed which has restored the historic landscape, created a new education space and welcomes more people to events and activities in the park.

    Remuneration and Governance Code

    Trustees of The Royal Parks are not remunerated. This appointment has been made in accordance with the Cabinet Office’s Governance Code on Public Appointments.

    The appointments process is regulated by the Commissioner for Public Appointments. Under the Code, any significant political activity undertaken by an appointee in the last five years must be declared. This is defined as including holding office, public speaking, making a recordable donation, or candidature for election. Aurora Antrim, Bronwyn Hill and Jane Hurst have not declared any significant political activity.

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Video: Civil society seminar: Digital euro – ensuring European autonomy and resilience

    Source: European Central Bank (video statements)

    Evelien Witlox, Programme Manager of the digital euro project, European Central Bank
    Barbora Kalmaityte, offline expert in the digital euro project, European Central Bank
    Fabian Geuther, Communication specialist digital euro project, European Central Bank

    https://www.youtube.com/watch?v=bYsbN5cKhDQ

    MIL OSI Video –

  • MIL-OSI Banking: Lessons from high inflation: tighter monetary policy, two new forecasting models and an open CNB

    Source: Czech National Bank

    High inflation must not be allowed to recur. Thanks to tight monetary policy, open communication and a strong koruna policy, the Czech National Bank (CNB) succeeded in taming double-digit inflation in 2022–2023 and returning it to the 2% target. It then undertook a monetary policy review to make itself better prepared for similar situations in the future. The CNB is now offering an inside look at the discussions behind the change in its approach to preparing key materials for the Bank Board’s monetary policy decision-making, the development of two new forecasting models and the strengthening of its research capacity. It has published on its website the Proceedings of the Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review, featuring a foreword by CNB Governor Aleš Michl.

    Three years ago, in July 2022, inflation in the Czech Republic stood at 17.5%. The CNB’s forecasting model at the time was recommending further rate hikes above the then level of 7%, but the Bank Board, under the leadership of Governor Aleš Michl, opted for a different strategy. It decided to keep interest rates unchanged until it was confident that inflation was on track to return to the target, and communicated this intention openly to the public and markets. It also supported a strong koruna policy.

    This approach resulted in the strongest exchange rate of the koruna against the euro in history and the tightest monetary conditions in 20 years in spring 2023. Inflation dropped sharply to near the 2% target in January 2024. The average inflation rate for 2024 as a whole was 2.4%, the lowest since 2018.

    The CNB has now published the proceedings of the international Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review. This concludes the first phase of the external review of its monetary policy analytical and modelling framework. The Bank Board initiated this review in response to the turbulent inflation episode of 2022–2023.

    In his foreword to the proceedings, Governor Aleš Michl presents the rationale behind the decision to openly review the CNB’s monetary policy analytical framework and summarises the Bank’s approach to tackling inflation. He provides a detailed account of the Bank Board’s strategy during the period when inflation neared 18%, noting that traditional macroeconomic models underestimated the impact of global shocks and often failed to forecast inflation accurately. For the first time in its history, the CNB commissioned three independent external reviews of its modelling framework. These focused on the forecasting performance of the core model, its suitability as a sole forecasting tool, and the interaction between monetary and fiscal policy. According to the Governor, a central bank must be able to learn from the past and adapt its tools to a new reality in which the economy is affected by unexpected and difficult-to-model factors. The review of the modelling framework is therefore a key step towards ensuring future price stability.

    Based on the recommendations of the review teams, the CNB has decided to expand its modelling framework. It will develop two new alternative models to complement its existing tools, enabling the Bank to better manage forecast uncertainty and respond to hard-to-predict economic shocks. This aligns with the practice of many other central banks which routinely use multiple forecasting models. The first components are expected to be ready for internal testing in late 2025 and early 2026, with development of the new models continuing throughout 2026.

    The reviewers also recommended strengthening the CNB’s research and data analytics capabilities. On 1 January 2025, the CNB established a new Research and Statistics Department, replacing the former Statistics and Data Support Department. An important task for the new department is to develop alternative macroeconomic models. It will also focus on enhancing the CNB’s data infrastructure and expanding the role of research beyond model development.

    The final versions of all the external evaluations were published on the CNB website in November 2024. In April 2025, the CNB presented these evaluations in detail, along with the conclusions of the first phase of the monetary policy review, at the international Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review. The outputs of this conference are now available in the Proceedings of the Czech National Bank Workshop on Monetary Policy: Inflation Targeting Frameworks Under Review. In addition to contributions from domestic and international experts – including the former head of the BIS Monetary and Economic Department Claudio Borio and ESCB Monetary Policy Committee Chair Óscar Arce – the publication features a foreword by CNB Governor Aleš Michl summarising the CNB’s approach to monetary policy during the period of elevated inflation and the steps it took to bring inflation down.

    Jakub Holas
    Director, CNB Communications Division

    Related links

    MIL OSI Global Banks –

  • MIL-Evening Report: Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’

    Source: The Conversation (Au and NZ) – By Phillipa C. McCormack, Future Making Fellow, Environment Institute, University of Adelaide

    Former Treasury Secretary Ken Henry has warned Australia’s global environmental reputation is at risk if the Albanese government fails to reform nature laws this term.

    In his speech to the National Press Club on Wednesday, Henry said reform was needed to restore nature and power the net zero economy.

    Speaking as chair of the Australian Climate and Biodiversity Foundation, Henry said with “glistening ambition”, Australia can “build an efficient, jobs-rich, globally competitive, high-productivity, low-emissions nature-rich economy”.

    The speech comes at a crucial time for nature law reform in Australia. The new Environment Minister Murray Watt has committed to prioritise reform, after the Albanese government failed to achieve substantial changes to these laws in the last parliament.

    On Wednesday, Henry condemned previous failed attempts to reform the laws. He described delays in improving environmental management as “a wilful act of intergenerational bastardry”.

    The need for fundamental reform

    The Albanese government abandoned efforts to pass important reforms in its first term.

    Environment Minister Murray Watt has committed to achieving reforms within 18 months, acknowledging “our current laws are broken”.

    In his speech on Wednesday, Henry agreed with this sentiment. He described the Environment Protection and Biodiversity Conservation Act as “a misnomer, if ever there was one”.

    Henry is both a former Treasury Secretary and former chair of National Australia Bank. He also wrote Australia’s most important white paper on tax reform.

    Henry has previously said environmental law reform could be a template for other essential, difficult law reform, such as fixing Australia’s broken tax system.

    He understands Australia’s broken environmental laws. In 2022-23, he led an independent review into nature laws in New South Wales. That review found the laws were failing and would never succeed in their current form.

    At the start of his speech on Wednesday, Henry came close to tears when he acknowledged Greens Senator Sarah Hansen-Young’s support for those who look after injured and orphaned native animals.

    As a bureaucrat in Canberra, Henry also used to rescue injured animals and nurse them back to health.

    Logging and land clearing for development destroys koala habitat.
    Pexels, Pixabay, CC BY

    Big challenges ahead

    As Henry noted on Wednesday, Australia faces enormous challenges. These include the need to rapidly build more housing and triple renewable energy capacity by 2030.

    But before building suburbs, wind farms, transmission lines, mines and roads, projects need to be assessed for their potential to harm the environment.

    Henry on Wednesday called for sweeping changes, drawing on Graeme Samuel’s 2019-20 review of the EPBC Act. The changes include:

    • genuine cooperation across all levels of government, industry and the community
    • high-integrity evidence to inform decision making
    • clear, strong and enforceable standards applied nationwide
    • an independent and trusted decision-maker, in the form of a national Environment Protection Authority
    • a natural capital market, which – if well-designed – could provide a financial incentive for nature restoration and carbon storage in the form of tradable credits.

    Without the reforms, Henry said, Australia would not “retain a shred of credibility” for two global commitments: reaching net zero emissions, and halting and reversing biodiversity loss.

    The net zero commitment is at risk because existing laws are not sufficient to protect carbon sinks, such as forests. The roll out of renewable energy is also being slowed by inefficient approvals processes.

    Henry said the concept of “ecologically sustainable development”, which seeks to balance economic, social, and economic goals, needs serious rethinking. This concept has been the foundation of environment policy in Australia, including the EPBC Act, for the past 30 years.

    Henry wrote the first Intergenerational Report for the federal government in 2002. He has criticised governments for allowing environmental destruction that will leave future generations worse off.

    He has variously described Australia’s failure to steward our natural resources as an intergenerational tragedy, as intergenerational theft, and a wilful act of intergenerational bastardry – claims he repeated on Wednesday.

    Making money grow on trees

    Henry grew up on the Mid North Coast of NSW where his father, a worker in the timber industry, helped log native forests.

    Land clearing is the main threat to Australian biodiversity, and preventing native vegetation loss would also cut greenhouse gas emissions.

    The foundation Henry chairs advocates for the protection and restoration of Australia’s native forests. Henry has previously backed a plan to store carbon in native forests, which would mean trees were protected and not cut down.

    In his Press Club address, Henry lamented ongoing land clearing, poor fire management in remnant forests, and logging of habitat for endangered species such as the koala and the greater glider. He also called for nature laws that enable projects to be delivered in a way that not only protects but also restores nature. For instance, he said carbon credits could help fund the Great Koala National Park proposed for NSW.

    Logging continues in old growth native forest.
    Chris Putnam/Future Publishing via Getty Images

    What’s the Australian government doing?

    Despite Murray Watt’s stated commitment to nature law reform, there are signs the environment may again come off second-best.

    At a recent meeting with key stakeholders, including industry and environment groups, Watt said compromise was needed. He warned environmental protections must come with streamlined project approvals “to improve productivity”.

    Henry on Wednesday acknowledged faster approvals were needed, saying:

    We simply cannot afford slow, opaque, duplicative and contested environmental planning decisions based on poor information mired in administrative complexity.

    But he said faster approvals should not come at a greater cost to nature. In his words:

    with due acknowledgement of the genius of AC/DC, there is no point in building a faster highway to hell.

    Henry said the current parliament has time to put the right policy settings in place. The remedies also enjoy broad stakeholder support. “We’ve had all the reviews we need,” he said. “All of us have had our say. It is now up to parliament. Let’s just get this done.”

    Phillipa C. McCormack receives funding from the Australian Research Council, Natural Hazards Research Australia, the National Environmental Science Program, Green Adelaide and the ACT Government. She is a member of the National Environmental Law Association and affiliated with the Wildlife Crime Research Hub.

    – ref. Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’ – https://theconversation.com/ken-henry-urges-nature-law-reform-after-decades-of-intergenerational-bastardry-261167

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’

    Source: The Conversation (Au and NZ) – By Phillipa C. McCormack, Future Making Fellow, Environment Institute, University of Adelaide

    Former Treasury Secretary Ken Henry has warned Australia’s global environmental reputation is at risk if the Albanese government fails to reform nature laws this term.

    In his speech to the National Press Club on Wednesday, Henry said reform was needed to restore nature and power the net zero economy.

    Speaking as chair of the Australian Climate and Biodiversity Foundation, Henry said with “glistening ambition”, Australia can “build an efficient, jobs-rich, globally competitive, high-productivity, low-emissions nature-rich economy”.

    The speech comes at a crucial time for nature law reform in Australia. The new Environment Minister Murray Watt has committed to prioritise reform, after the Albanese government failed to achieve substantial changes to these laws in the last parliament.

    On Wednesday, Henry condemned previous failed attempts to reform the laws. He described delays in improving environmental management as “a wilful act of intergenerational bastardry”.

    The need for fundamental reform

    The Albanese government abandoned efforts to pass important reforms in its first term.

    Environment Minister Murray Watt has committed to achieving reforms within 18 months, acknowledging “our current laws are broken”.

    In his speech on Wednesday, Henry agreed with this sentiment. He described the Environment Protection and Biodiversity Conservation Act as “a misnomer, if ever there was one”.

    Henry is both a former Treasury Secretary and former chair of National Australia Bank. He also wrote Australia’s most important white paper on tax reform.

    Henry has previously said environmental law reform could be a template for other essential, difficult law reform, such as fixing Australia’s broken tax system.

    He understands Australia’s broken environmental laws. In 2022-23, he led an independent review into nature laws in New South Wales. That review found the laws were failing and would never succeed in their current form.

    At the start of his speech on Wednesday, Henry came close to tears when he acknowledged Greens Senator Sarah Hansen-Young’s support for those who look after injured and orphaned native animals.

    As a bureaucrat in Canberra, Henry also used to rescue injured animals and nurse them back to health.

    Logging and land clearing for development destroys koala habitat.
    Pexels, Pixabay, CC BY

    Big challenges ahead

    As Henry noted on Wednesday, Australia faces enormous challenges. These include the need to rapidly build more housing and triple renewable energy capacity by 2030.

    But before building suburbs, wind farms, transmission lines, mines and roads, projects need to be assessed for their potential to harm the environment.

    Henry on Wednesday called for sweeping changes, drawing on Graeme Samuel’s 2019-20 review of the EPBC Act. The changes include:

    • genuine cooperation across all levels of government, industry and the community
    • high-integrity evidence to inform decision making
    • clear, strong and enforceable standards applied nationwide
    • an independent and trusted decision-maker, in the form of a national Environment Protection Authority
    • a natural capital market, which – if well-designed – could provide a financial incentive for nature restoration and carbon storage in the form of tradable credits.

    Without the reforms, Henry said, Australia would not “retain a shred of credibility” for two global commitments: reaching net zero emissions, and halting and reversing biodiversity loss.

    The net zero commitment is at risk because existing laws are not sufficient to protect carbon sinks, such as forests. The roll out of renewable energy is also being slowed by inefficient approvals processes.

    Henry said the concept of “ecologically sustainable development”, which seeks to balance economic, social, and economic goals, needs serious rethinking. This concept has been the foundation of environment policy in Australia, including the EPBC Act, for the past 30 years.

    Henry wrote the first Intergenerational Report for the federal government in 2002. He has criticised governments for allowing environmental destruction that will leave future generations worse off.

    He has variously described Australia’s failure to steward our natural resources as an intergenerational tragedy, as intergenerational theft, and a wilful act of intergenerational bastardry – claims he repeated on Wednesday.

    Making money grow on trees

    Henry grew up on the Mid North Coast of NSW where his father, a worker in the timber industry, helped log native forests.

    Land clearing is the main threat to Australian biodiversity, and preventing native vegetation loss would also cut greenhouse gas emissions.

    The foundation Henry chairs advocates for the protection and restoration of Australia’s native forests. Henry has previously backed a plan to store carbon in native forests, which would mean trees were protected and not cut down.

    In his Press Club address, Henry lamented ongoing land clearing, poor fire management in remnant forests, and logging of habitat for endangered species such as the koala and the greater glider. He also called for nature laws that enable projects to be delivered in a way that not only protects but also restores nature. For instance, he said carbon credits could help fund the Great Koala National Park proposed for NSW.

    Logging continues in old growth native forest.
    Chris Putnam/Future Publishing via Getty Images

    What’s the Australian government doing?

    Despite Murray Watt’s stated commitment to nature law reform, there are signs the environment may again come off second-best.

    At a recent meeting with key stakeholders, including industry and environment groups, Watt said compromise was needed. He warned environmental protections must come with streamlined project approvals “to improve productivity”.

    Henry on Wednesday acknowledged faster approvals were needed, saying:

    We simply cannot afford slow, opaque, duplicative and contested environmental planning decisions based on poor information mired in administrative complexity.

    But he said faster approvals should not come at a greater cost to nature. In his words:

    with due acknowledgement of the genius of AC/DC, there is no point in building a faster highway to hell.

    Henry said the current parliament has time to put the right policy settings in place. The remedies also enjoy broad stakeholder support. “We’ve had all the reviews we need,” he said. “All of us have had our say. It is now up to parliament. Let’s just get this done.”

    Phillipa C. McCormack receives funding from the Australian Research Council, Natural Hazards Research Australia, the National Environmental Science Program, Green Adelaide and the ACT Government. She is a member of the National Environmental Law Association and affiliated with the Wildlife Crime Research Hub.

    – ref. Ken Henry urges nature law reform after decades of ‘intergenerational bastardry’ – https://theconversation.com/ken-henry-urges-nature-law-reform-after-decades-of-intergenerational-bastardry-261167

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Four York parks awarded coveted Green Flag Award

    Source: City of York

    Four of City of York Council’s parks have been awarded the prestigious Green Flag Award after achieving international quality mark for parks and green spaces.

    The council and Friends of Groups – resident organisations who help maintain and improve the parks – are celebrating after receiving a Green Flag Award for Rowntree Park, West Bank Park, Glen Gardens and Clarence Gardens.

    The parks are some of 2,250 in the UK to achieve the award, which is the international quality mark for parks and green spaces.

    Rowntree Park (pictured) has taken back the award this year, having missed out on applying last year due to the extended flooding in spring.

    Cllr Jenny Kent, Executive Member for Environment and Climate Emergency at City of York Council, said:

    We’re absolutely delighted that four of York’s beautiful parks have received the Green Flag Award.

    It’s a real tribute to the dedication and hard work of our staff, volunteers and local Friends groups who care so passionately for these much-loved green spaces.

    “As well as these awards, we are working towards achieving Green Flag status for Hull Road Park in the future.

    “Spending time outdoors is vital for everyone’s health and wellbeing, and Parks and gardens like these are so important as free places to exercise, meet friends or simply enjoy nature – now more than ever.”

    Green Flag Award Scheme Manager, Paul Todd MBE, said:

    Congratulations to everyone involved in York who have worked tirelessly to ensure that it achieves the high standards required for the Green Flag Award.

    “Quality parks and green spaces like these make the country a heathier place to live and work in, and a stronger place in which to invest.

    “Crucially all of these parks in York are a vital green space for communities in the city to enjoy nature, and during the ongoing cost of living crisis it is a free and safe space for families to socialise. It also provides important opportunities for local people and visitors to reap the physical and mental health benefits of green space.”

    The Green Flag Award scheme, managed by environmental charity Keep Britain Tidy under licence from the Ministry of Housing, Communities & Local Government, recognises and rewards well-managed parks and green spaces, setting the benchmark standard for the management of green spaces across the United Kingdom and around the world.

    MIL OSI United Kingdom –