NewzIntel.com

Category: Education

  • MIL-OSI USA: 07.23.2025 Sens. Cruz, Cornyn, Rep. Jackson Introduce Bill Honoring Mayor Jerry H. Hodge

    US Senate News:

    Source: United States Senator for Texas Ted Cruz
    WASHINGTON, D.C. – Today, U.S. Sens. Ted Cruz (R-Texas), John Cornyn (R-Texas), and Rep. Ronny Jackson (R-Texas-13) introduced a bill to rename the U.S. Post Office in Amarillo, Texas, as the Mayor Jerry H. Hodge Post Office Building to honor the life and legacy of Mayor Jerry Hodge.
    Sen. Cruz said, “Mayor Hodge was a pillar of the Amarillo community and a true servant leader to the Panhandle. He transformed a local pharmacy into a national enterprise, served his community as the youngest mayor of Amarillo’s history, and was instrumental in establishing the Texas Tech University School of Veterinary Medicine. I am proud to introduce legislation to name the Amarillo post office in honor of his legacy.”
    Sen. Cornyn said, “From helping to establish several institutions of higher education in Amarillo to leading the effort to bring a minor league baseball team to the city, Mayor Jerry Hodge was a cornerstone of the Amarillo community. I am proud to join Senator Cruz and Congressman Jackson in introducing legislation to rename Amarillo’s downtown post office after Mayor Hodge, which will ensure that future generations of Texans in the Panhandle can learn about his contributions and help preserve his life and legacy.”
    Companion legislation was introduced in the House by Rep. Ronny Jackson (R-Texas-13).
    Rep. Jackson said, “Jerry Hodge’s impact on Amarillo extended far beyond his titles. He was the youngest mayor in the city’s history, a successful businessman, and a proud rancher. Jerry’s personality was larger than life, and he worked tirelessly each day to make life better for the people of the Texas Panhandle. I’m proud to have called him a friend and am honored to introduce this piece of legislation to recognize his enduring legacy.”
    Read the full text of the bill here.

    MIL OSI USA News –

  • MIL-OSI USA: Welch to Host 2025 Women’s Economic Opportunity Conference in September 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    RANDOLPH, VT – On Saturday, September 27, U.S. Senator Peter Welch (D-Vt.) will host this year’s annual Women’s Economic Opportunity Conference (WEOC) to bring Vermonters together to learn, network, and build economic opportunity. The conference will include interactive workshops on growing economic opportunity, cultivating new audiences, and improving skills.    
    The Women’s Economic Opportunity Conference was created by Senator Patrick Leahy and his wife Marcelle and has been a Vermont tradition for decades. Senator Welch and his wife, Margaret Cheney, are pleased to continue this tradition of bringing Vermonters together to learn, network, and build economic opportunity for Vermonters.  This event is held in partnership with the Vermont Women’s Fund and the Vermont Community Foundation.  
    The full schedule of events and keynote speaker will be announced in the coming weeks. 
    To receive updates on the conference details, registration, and other information, fill out the form here.  
    Logistical details follow: 
    Event: The 2025 Women’s Economic Opportunity Conference, hosted by Senator Peter Welch (D-Vt.) and Margaret Cheney 
    Who: Senator Peter Welch (D-Vt.); additional guests and speakers to be announced 
    Date: Saturday, September 27, 2025  
    Location: Vermont State University-Randolph, 124 Admin Dr, Randolph Center, VT 05061  
    Questions and Accommodations: Please email weoc@welch.senate.gov or call 802-863-2525 with any questions 
    Media RSVP: Media are asked to RSVP to Elisabeth_St.Onge@welch.senate.gov. 

    MIL OSI USA News –

  • MIL-OSI Canada: Taking action to improve classroom safety | Passer à l’action pour améliorer la sécurité dans les salles de classe

    Members of the Aggression and Complexity in Schools Action Team

    The Aggression and Complexity in Schools Action Team held its first meeting on July 23, bringing together teachers, school leaders, school board trustees and other front-line professionals with classroom experience to help address the growing challenges in Alberta’s classrooms.

    The 25-member action team includes teachers, school administrators and support staff who have direct experience working with students every day and understand the complexities of today’s learning environments.

    “The action team’s insights will be key to finding practical solutions that reduce aggression, manage classroom complexity and improve safety and support for students and staff. I look forward to building on their input to make classrooms safer and strengthen Alberta’s education system.”

    Demetrios Nicolaides, Minister of Education and Childcare

    The action team’s mandate is to provide advice and recommendations to Alberta’s government on how to:

    • reduce incidents of aggression in schools
    • address increasing classroom complexity
    • improve safety and support for students and school staff

    Over the coming months, the team will examine policies, teacher training, inclusive education supports, funding considerations and coordination across sectors. To inform this work, they may invite front-line professionals to share insights as subject matter experts. The team’s recommendations will focus on both immediate and long-term strategies to better support classrooms across Alberta.

    “CASS welcomes the formation of this action team and appreciates the government’s commitment to listening to the voices of those working directly with students. Superintendents across Alberta are eager to support practical, evidence-informed strategies that enhance safety, reduce classroom complexity, and promote the well-being of both staff and students.”

    Mike McMann, president, College of Alberta School Superintendents

    “Alberta’s locally elected school boards remain deeply committed to safe, supportive and effective learning environments for all students and staff. Alberta School Boards Association looks forward to collaborating, sharing insights and perspectives to support the diverse needs of students and school communities across the province.”

    Marilyn Dennis, president, Alberta School Boards Association

    Alberta’s government is committed to ensuring these decisions are informed by the real-world experience of educators and other professionals who work directly with students. Practical supports and interventions stemming from the action team’s work are expected to begin rolling out as early as the 2025-26 school year.

    Quick facts

    • The action team will meet at least four times between July and September.
    • A final report with recommendations will be submitted to the Minister of Education and Childcare by Sept. 30.

    Related information

    • M.O. 031/2025 – Education and Childcare
    • Aggression and Complexity in Schools Action Team

    Related news

    • Addressing classroom aggression and complexity (June 30, 2025)

    Le gouvernement de l’Alberta travaille avec des experts de première ligne pour rendre les salles de classe plus sécuritaires pour les élèves et les enseignants.

    L’équipe Aggression and Complexity in Schools Action Team a tenu sa première réunion le 23 juillet, rassemblant des enseignants, des leadeurs scolaires, des conseillers scolaires et d’autres professionnels de première ligne possédant une expérience en salle de classe, afin d’aider à relever les défis croissants rencontrés dans les salles de classe de l’Alberta.

    Parmi les 25 membres de cette équipe, on retrouve des enseignants, des administrateurs scolaires et du personnel de soutien qui ont déjà travaillé directement avec les élèves au quotidien et qui comprennent la complexité des environnements d’apprentissage d’aujourd’hui.

    « Les réflexions de cette équipe d’experts seront essentielles pour trouver des solutions pratiques permettant de réduire les cas de violence, de faire face à la complexité des besoins en salle de classe, d’améliorer la sécurité des élèves et du personnel et de mieux les soutenir. Je compte mettre à profit leur travail pour rendre les salles de classe plus sécuritaires et pour renforcer le système d’éducation de l’Alberta. »

    Demetrios Nicolaides, ministre de l’Éducation et de la Garde d’enfants

    Le mandat de l’équipe est de fournir des conseils et des recommandations au gouvernement de l’Alberta sur la façon :

    • de réduire le nombre de cas de violence dans les écoles;
    • de faire face à la complexité croissante des besoins en salle de classe;
    • d’améliorer la sécurité des élèves et du personnel scolaire et de mieux les soutenir.

    Au cours des prochains mois, l’équipe se penchera sur les politiques, la formation des enseignants, les mesures de soutien à l’éducation inclusive, le financement et la coordination intersectorielle. Pour orienter ce travail, l’équipe pourra inviter des professionnels de première ligne à partager leurs perspectives à titre d’experts en la matière. L’équipe recommandera des stratégies immédiates et à long terme afin de mieux soutenir les salles de classe de l’Alberta.

    « CASS salue la création de cette équipe d’action, ainsi que l’engagement du gouvernement d’écouter les personnes qui travaillent directement avec les élèves. Les directions générales de toute l’Alberta sont prêtes à mettre en place des stratégies pratiques et fondées sur des données probantes qui améliorent la sécurité, réduisent la complexité des classes et favorisent le bienêtre du personnel et des élèves. »

    Mike McMann, président, College of Alberta School Superintendents

    « Les conseils scolaires élus localement de l’Alberta restent profondément engagés à fournir des environnements d’apprentissage sécuritaires, bienveillants et efficaces pour tous les élèves et le personnel. L’Alberta School Boards Association se réjouit à l’idée de collaborer en partageant ses réflexions et ses perspectives afin de répondre aux divers besoins des élèves et des communautés scolaires de la province. »

    Marilyn Dennis, présidente, Alberta School Boards Association

    Le gouvernement de l’Alberta est résolu à ce que ces décisions se fondent sur l’expérience pratique des éducateurs et des autres professionnels qui travaillent directement avec les élèves. Certaines mesures de soutien et interventions concrètes découlant du travail de cette équipe devraient être mises en place dès l’année scolaire 2025-2026.

    En bref

    • L’équipe Aggression and Complexity in Classrooms Action Team se réunira au moins à quatre reprises entre juillet et septembre 2025.
    • Un rapport final contenant des recommandations sera remis au ministre de l’Éducation et de la Garde d’enfants d’ici le 30 septembre 2025.

    Renseignements connexes (en anglais seulement)

    • M.O. 031/2025 – Education and Childcare
    • Aggression and Complexity in Schools Action Team

    Nouvelles connexes

    • Faire face aux comportements violents et à la complexité des besoins en salle de classe (30 juin 2025)

    MIL OSI Canada News –

  • MIL-OSI USA: First Teen Tech Council for New York

    Source: US State of New York

    overnor Kathy Hochul and Secretary Hillary Rodham Clinton today announced the launch of the New York School (NYS) x #HalfTheStory Teen Tech Council, a groundbreaking statewide initiative placing teens at the forefront of educational innovation. This new advisory group will empower students to lead the conversation on digital wellness and support phone-free learning environments across New York State as schools across the state prepare to implement Governor Hochul’s nation-leading distraction-free learning law for the 2025-2026 school year

    “Launching the Teen Tech Council will help make sure New York’s Distraction-Free Schools is successfully implemented,” Governor Hochul said. “I’m fired up to be working with #HalfTheStory, the Clinton Foundation, and all of you with you to usher in a generational shift — bringing back meaningful interactions during such formative years and securing a healthier future.”

    Secretary Hillary Rodham Clinton said, “Here at the Clinton Foundation, we’re guided by our belief that putting people first — putting people’s concerns, needs and hopes first — is essential to creating a better world. That starts with you. As the largest state to adopt a phone-free policy in schools, New York has the opportunity to show the rest of the country what we can accomplish when we combine the capacity of government and nonprofits with the energy of smart young leaders.

    #HalfTheStory Founder and Executive Director Larissa May said, “Teens are often left out of the conversation when it comes to the policies that shape their lives, and in this case, teens are the missing piece of the bell-to-bell movement. #HalfTheStory is committed to identifying the next generation of digital activists and powering the movement from the bottom up. We’re training these future leaders at scale to make NYC the model for the world—in and outside the classroom—to support student wellbeing and digital citizenship. Teen work makes the dream work.”

    The inaugural Teen Tech Council Board Meeting was held on July 22, 2025, in New York City. Co-hosted by the Governor’s Office and the Clinton Foundation in partnership with #HalfTheStory — a nonprofit committed to strengthening young people’s relationship with technology — the event marks a pivotal step in reimagining how students engage with tech in and out of the classroom.

    As an extension of #HalfTheStory’s Civics Academy, an annual summer program for teens that aims to educate and empower today’s youth to learn effective activism, storytelling, and leadership techniques essential for driving global and local change, the Teen Tech Council is launching as a scaled state initiative, with teens from across New York joining from their districts. Students will be nominated by teachers and peers to help schools successfully implement bell-to-bell policies and create a shared culture of digital wellness — one that extends beyond the classroom into play, connection, and creativity.

    Teens can apply now to join NYS x #HalfTheStory Teen Tech Council — or teachers can nominate a star student to help shape the future at: halfthestoryproject.com/teen-tech-council.

    The launch of the council underscores Governor Hochul’s continued commitment to working with young people to ensure an equitable and successful rollout of a distraction-free environment in schools statewide. The Distraction-Free Schools law signed by Governor Hochul requires bell-to-bell smartphone restrictions in K-12 school districts statewide, starting this fall for the 2025-2026 school year. This law is part of Governor Hochul’s nation-leading commitment to protecting youth mental health and promoting student success in the digital age, following her action last year to win a first-in-the-nation law to restrict addictive social media feeds for minors.

    In accordance with the Distraction Free Learning Law, public school districts statewide must finalize and publish their distraction-free policy by August 1. The Governor also recently launched a website with a policy FAQ, toolkit and other key information about the State law as a resource for districts as they finalize their policy. The Governor also recently highlighted that nearly 150 school districts across New York have already submitted their distraction-free policy.

    Governor Hochul’s bell-to-bell policy creates a statewide standard for distraction-free schools in New York including:

    • Prohibits unsanctioned use of smartphones and other internet-enabled personal devices on school grounds in K-12 schools for the entire school day (from “bell to bell”), including classroom time and other settings like lunch and study hall periods
    • Allows schools to develop their own plans for storing smartphones during the day — giving administrators and teachers the flexibility to do what works best for their buildings and students
    • Secures $13.5 million in funding to be made available for schools that need assistance in purchasing storage solutions to help them go distraction-free
    • Requires schools to give parents a way to contact their kids during the day when necessary
    • Requires teachers, parents and students to be consulted in developing the local policy
    • Prevents inequitable discipline

    Governor Hochul’s policy allows authorized access to simple cellphones without internet capability, as well as internet-enabled devices officially provided by their school for classroom instruction, such as laptops or tablets used as part of lesson plans.

    Additionally, the Governor’s policy includes several exemptions to smartphone restrictions, including for students who require access to an internet-enabled device to manage a medical condition, where required by a student’s Individualized Education Program (IEP), for academic purposes or for other legitimate purposes, such as translation, family caregiving and emergencies.

    MIL OSI USA News –

  • MIL-OSI Analysis: How public development banks could narrow inequality gaps between the Global North and South

    Source: The Conversation – Canada – By Alicja Paulina Krubnik, PhD Candidate, Political Science, McMaster University

    The United Nations’ Fourth International Conference on Financing for Development (FFD4) recently concluded in Seville, Spain. It gathered global leaders from government, development, academia and civil society to discuss key barriers to sustainable development and shape collaborative efforts to address them.

    FFD4 comes at a crucial time, when the Action Agenda from the last FFD3, set 10 years ago, must be built upon and upheld. With only five years left to meet the UN’s Sustainable Development Goals (SDGs), more than 80 per cent are off track. More tangibly, 2030 is a key deadline for global emissions reduction.

    The global aid environment is also in crisis, just as low- and middle-income countries face mounting pressures due to the interconnected impacts of climate change, environmental damage, poverty and inequality.

    Boosting global co-operation

    FFD4 was an opportunity to revitalize and transform international development co-operation to help states meet these challenges and pursue sustainable development.

    Achieving this requires more than decarbonizing development financing. FFD4 faced its most testing challenge yet: how to reform the global financial systems that direct development resources.

    Key factors include aligning funding with the sustainable development needs of low- and middle-income countries, increasing access to long-term concessional financing — loans or other forms of financing provided on terms more favourable than those in the market — and reducing public debt burdens.

    Public development banks offer crucial leadership here. They provide affordable financing, direct resources where urgently needed and align funding with long-term development strategies, giving them significant potential to democratize project ownership.

    Urgent human development needs

    At the FFD4 gathering, many representatives, especially from Global South and climate-vulnerable countries, highlighted the inadequacy of development financing. Seedy Keita, the minister for finance and economic affairs from The Gambia, told the conference that as developing countries are being urged to invest more in climate and human development initiatives, they lack the tools to do so.

    The countries facing the worst climate impacts also struggle with urgent human development needs. Adapting to and mitigating climate breakdown are inseparable from economic and social development, with human welfare — access to food, water and clean air, avoiding displacement and the safety of women and girls — intimately linked to climate.

    Yet climate-vulnerable states receive a small share of global development financing, particularly for adaptation projects that yield lower returns. Additionally, resources for building value-added industries in low- and middle-income countries remain insufficient.

    Scant commitment to action

    Simply increasing financing is not enough. At the launch of the latest SDGs Report, UN Secretary General António Guterres stated:

    “There is something fundamentally wrong in the structure of the economic and financial architecture and in the way it operates to the detriment of developing countries.”

    In short, it’s too rigid and unresponsive to the Global South’s unique needs, ultimately constraining their ability to act on the SDGs.

    The most ambitious and pressing outcome of FFD4, the “Sevilla Commitment,” addresses key issues in efforts to reform international financial systems but lacks commitment to strong, transformative action.

    Too much priority is given to enabling low- and middle-income countries to access private finance for development. Using public development finance to mobilize private investments and lending has failed to close the financing gap.

    Poverty and inequality worsens

    Private support for the structural green transformation needed for long-term economic development in low- and middle-income countries remains inadequate, widening the divide between the Global North and South. The strategy of catalyzing private finance has shifted risk to public balance sheets while reserving most of the profits for private, often multinational corporations — what’s known as “de-risking.”

    A privatized development strategy has pushed fiscal austerity measures on Global South countries to access international capital markets to fund development initiatives. Many of these countries are struggling with alarming debt, forcing them to divert scarce funds from essential services like health and education to service debts, which worsens poverty and inequality.

    FFD4’s efforts to create a fairer debt system include scaling up debt swaps and forming an alliance between creditor countries and multilateral banks to implement debt “pause clauses” during crises. While many states called for deeper debt reforms and a UN convention on sovereign debt, several wealthy countries resisted bold changes.

    They largely overlooked the Global North’s climate debt — estimated at $192 trillion. The Sevilla Commitment proposes launching a UN-led intergovernmental process, opening a potential path for creditor action.

    As Spain’s economy minister put it, FFD4 is a “launchpad for action” not a “landing zone.”

    Directing money to where it’s needed most

    Public development banks have the potential to lead this action for a more prosperous and equitable future. They can mobilize under-utilized public resources more economically, rapidly and effectively to serve development goals in a climate-forward way.

    These banks can direct finance to where it’s most needed, aligning with development priorities across diverse low- and middle-income countries.

    Public development banks are also well-positioned to co-ordinate at multilateral, regional and national levels and to align global decarbonization goals to local demands. The largest coalition of banks, the Finance in Commons group, was recognized in the Sevilla Commitment. The group called for strengthening public development banks’ co-operation and leadership at the FFD4. Already a leader in global climate financing, further co-ordination among public debate banks could amplify its impact.



    Read more:
    Your essential guide to climate finance

    Supporting green, equitable development

    Structural change requires the long-term, affordable and counter-cyclical financing that public development banks can provide.

    For indebted developing countries facing high borrowing costs, steadfast concessional financing is crucial. Beyond finance, public development banks have a privileged role in knowledge formation and dissemination, which can be leveraged alongside their financial power to support green and equitable development.

    As public organizations, public development banks offer greater potential for transparency and accountability to democratic decision-making, aligning financing with public values. Beyond simply de-risking, these banks can leverage their financial power to generate broader public benefits.

    Alicja Paulina Krubnik receives funding from the Social Sciences and Humanities Research Council and the International Development Research Centre.

    – ref. How public development banks could narrow inequality gaps between the Global North and South – https://theconversation.com/how-public-development-banks-could-narrow-inequality-gaps-between-the-global-north-and-south-261160

    MIL OSI Analysis –

  • MIL-OSI USA: Gov. Kemp Announces TCSG, USG Sign First Articulation Agreement Since Passage of Top State for Talent Act

    Source: US State of Georgia

    ATLANTA – Governor Brian Kemp today announced that the Technical College System of Georgia (TCSG) and the University System of Georgia (USG) signed an articulation agreement to help nursing students seamlessly advance their education and careers, the first of its kind following the passage of HB 192, the Top State for Talent Act. The agreement allows graduates of TCSG’s associate degree in nursing programs to transfer directly into participating USG institutions to complete a Bachelor of Science in Nursing (BSN), establishing a true 2+2 transfer model between the two systems.

    “Georgia’s success as the No. 1 state for business depends on a strong pipeline of talent, especially in critical fields like healthcare,” said Governor Brian Kemp. “This agreement between TCSG and USG is a perfect example of how our state is working together to expand opportunities for students, strengthen our workforce, and ensure that every Georgian has the opportunity to succeed.”

    Governor Kemp has made aligning the state’s workforce pipeline with the needs of employers a top priority. The Top State for Talent Initiative, including the state’s first unified high-demand career list, seeks to bring private and public sector leaders together to help Georgians pursue the opportunities available to them statewide.

    This partnership between TCSG and USC supports the initiative by developing and retaining a highly skilled healthcare workforce. Under the agreement, students who graduate from a TCSG college with an Associate of Science in Nursing (ASN) will be eligible for admission into BSN programs at participating USG institutions. This streamlined transition offers students a cost-effective and accessible option to continue their education without interruption or loss of credit.

    “With this agreement, we’re eliminating barriers and opening doors for more Georgians to pursue rewarding careers in nursing,” said TCSG Commissioner Greg Dozier. “It’s a strategic move that helps our students, our healthcare partners, and our communities—especially as we work together to fill critical nursing shortages across the state.”

    “Georgia’s growing population means a greater demand for healthcare, and this partnership helps meet it by preparing more nurses, especially in rural and underserved areas,” said USG Chancellor Sonny Perdue. “As we align programs, we’re making it easier for students to grow their skills. It’s a smart investment that drives student success, expands access to care, and builds a more prosperous Georgia.”

    In addition to easing the transition between systems, the agreement expands career pathways for students by creating a clear route from an associate degree to a bachelor’s degree in one of the state’s most in-demand fields. It is part of a broader strategy by TCSG and USG to increase educational attainment and create upward mobility for students pursuing careers in high-demand industries, including nursing, healthcare, and allied health professions.

    For more information, visit www.tcsg.edu or www.usg.edu.

    MIL OSI USA News –

  • MIL-OSI: David M. Findlay Named to Indianapolis Business Journal’s Indiana 250 List for Fourth Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, Ind., July 23, 2025 (GLOBE NEWSWIRE) — Lake City Bank is proud to announce that David M. Findlay, Chairman and Chief Executive Officer, has been named to the Indianapolis Business Journal’s Indiana 250 list for the fourth consecutive year. The annual list recognizes the state’s most influential and impactful leaders across business, philanthropy, the arts, government and not-for-profits.

    “It’s an honor to be recognized alongside such influential leaders making an impact in our state,” Findlay said. “This list highlights the incredible depth and strength of leadership we have in Indiana to keep our communities moving forward.”

    Findlay serves as the Chairman of the boards of directors and Chief Executive Officer of Lakeland Financial and Lake City Bank. He also served as President and Chief Executive Officer from 2014-2023, President and Chief Financial Officer from 2010-2014 and Chief Financial Officer from 2000-2010.

    Findlay is active as a board member with many organizations including the Indiana Bankers Association, Indiana Chamber of Commerce, Central Indiana Corporate Partnership, OrthoWorx, Accelinx, the Northeast Indiana Regional Partnership, Parkview Health, Centerfield Capital Partners and the Trine University Board of Trustees.

    A full list of those included on the 2025 Indiana 250 list is available on the Indianapolis Business Journal’s website at www.indiana250.com.

    Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit www.lakecitybank.com.

    Contact
    Luke Weick
    Vice President
    Marketing Manager
    (574) 267-9198 x47279 office
    (260) 431-7061 mobile
    luke.weick@lakecitybank.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9db91f9b-e7b5-4a83-9feb-a1016dabf248

    The MIL Network –

  • MIL-Evening Report: After 70 years, twisted gothic thriller The Night of the Hunter remains as disturbing and beguiling as ever

    Source: The Conversation (Au and NZ) – By Ben McCann, Associate Professor of French Studies, University of Adelaide

    United Artists/Getty Images

    In 1955, director Charles Laughton crafted one of the darkest, strangest fairytales ever to come out of Hollywood. The Night of the Hunter remains visually exquisite and profoundly unsettling.

    Shortly before Ben Harper is hanged for robbing a bank and killing two men, he hides the $10,000 loot in the toy doll of his young daughter Pearl. Only Pearl and her brother John know the secret – until the deranged serial killer-priest Harry Powell hears about the money and sets out to recover it.

    Harry marries Willa, Harper’s widow, and then, after killing her, pursues John and Pearl relentlessly across West Virginia.

    Set in the Depression-hit 1930s, The Night of the Hunter is, to quote film critic Pauline Kael, “one of the most frightening movies ever made”. Mitchum’s depiction of pure evil is one of cinema’s most vivid creations, with LOVE and HATE tattooed on the fingers of each hand.

    But this is no simple chase film. It’s about the fight for the souls of two children between the forces of evil and good.

    Gothic nightmares

    Laughton was an odd choice to adapt Davis Grubb’s original 1952 novel – the Oscar-winning British actor had never directed before. Yet Laughton’s “outsider” status meant he wasn’t bound by Hollywood convention and could follow his surreal instincts.

    The film draws heavily from German Expressionist cinema, especially in the use of stark black-and-white contrast and exaggerated shadows. Cinematographer Stanley Cortez described it as his best work, and rightly so: the film often feels more like a dream (or a nightmare).

    Laughton and Cortez craft a series of remarkable images: Pearl and John fleeing down the river, watched over by owls, frogs and rabbits; Powell’s looming shadow cast across a bedroom wall; the slain Willa’s blonde hair floating under the river after her death.

    The film is deeply allegorical. It plays with Christian imagery, ideas of sin and salvation and the vulnerability of the innocent.

    Laughton’s masterstroke was to pit the predatory adult world against the instinctual wisdom and resilience of children.

    Powell (played by Robert Mitchum in his greatest role) is no monster or madman, but a religious fanatic who murders under the guise of righteousness. He embodies the Gothic trope of the corrupt or false preacher. His looming menace turns small-town America into a place of paranoia, dread and moral confusion.

    Rachel Cooper (the silent film star Lillian Gish, never better), who protects the children in the second half of the film, stands as the maternal, angelic counterpoint to Powell’s demonic figure. Her role emphasises another key point of the film: the redemptive, almost sacred, power of kindness.

    A perfect performance

    As Powell, Mitchum drew on his uncanny knack at exuding charm and menace. Many actors would have clashed with Laughton’s expressionistic style, but Mitchum hit the perfect tone: heightened and theatrical, but never camp.

    His delivery is hypnotic, musical and terrifying.

    At a time when many stars were protective of their public image, Mitchum had no problem playing a child-killing religious maniac.

    Known for his rebellious streak and brushes with scandal (including a marijuana arrest in 1948), Mitchum wasn’t bound by Hollywood’s moral expectations. That gave him the freedom to push into darker territory with no vanity.

    That moral delusion, delivered with conviction, is what makes Powell so frightening. Mitchum’s Powell anticipates later predators like Norman Bates (Psycho) or Max Cady (the role he would play in the 1962 version of Cape Fear), but he also echoes much older archetypes: the Big Bad Wolf, the false prophet and the devil in a black coat.

    A flop turned masterpiece

    The film was a critical and commercial failure. Laughton’s bold and unconventional choices were risky. His blend of German Expressionism, Southern Gothic Americana and psychological horror was unlike anything American cinema had seen before.

    It did not align with the mainstream tastes of the era – the top grossing Hollywood films of 1955 were family-friendly, comforting offerings like Oklahoma! and Lady and the Tramp.

    Audiences and reviewers didn’t know what to make of this abnormal mix of fairy tale logic, nightmarish imagery and biblical allegory.

    So heartbroken was Laughton by the savage reception the film received (“a horrible yarn […] a repulsive picture”, one reviewer called it), he never directed again. Yet the reputation of his one-hit wonder has only grown over time.

    Successive generations of critics and filmmakers have caught on to its brilliance. Critic Roger Ebert said it was “one of the greatest of all American films”. In 2008, French film magazine Cahiers du cinéma voted it as the second-best film of all time, behind only Citizen Kane (1941).

    A long-lasting legacy

    Margaret Atwood, David Lynch and the Coen Brothers have all cited the film as a major influence. Spike Lee paid homage to LOVE and HATE in Do The Right Thing (1989). And surely James Cameron admired it, for what is Terminator 2 (1991) if not a rehash of Powell’s insistent chase-down of children?

    Its depiction of a charming, violent manipulator speaks to contemporary fears about religious hypocrisy and the abuse of moral authority. And it reminds us the bucolic innocence of rural America can hide evil in plain sight.

    It’s often the case that films which are misunderstood on first release are ahead of their time, and never fully appreciated until many years later.

    That’s the case with The Night of the Hunter. It remains unsettlingly modern, 70 years on.

    Ben McCann 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. After 70 years, twisted gothic thriller The Night of the Hunter remains as disturbing and beguiling as ever – https://theconversation.com/after-70-years-twisted-gothic-thriller-the-night-of-the-hunter-remains-as-disturbing-and-beguiling-as-ever-251049

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: As seas rise and fish decline, this Fijian village is finding new ways to adapt

    Source: The Conversation (Au and NZ) – By Celia McMichael, Professor in Geography, The University of Melbourne

    Celia McMichael, CC BY-NC-ND

    In the village of Nagigi, Fiji, the ocean isn’t just a resource – it’s part of the community’s identity. But in recent years, villagers have seen the sea behave differently. Tides are pushing inland. Once abundant, fish are now harder to find. Sandy beaches and coconut trees have been washed away.

    Like many coastal communities, including those across the Pacific Islands region, this village is now under real pressure from climate change and declining fish stocks. Methods of fishing are no longer guaranteed, while extreme weather and coastal erosion threaten homes and land. As one villager told us:

    we can’t find fish easily, not compared to previous times […] some fish species we used to see before are no longer around.

    When stories like this get publicity, they’re often framed as a story of loss. Pacific Islanders can be portrayed as passive victims of climate change.

    But Nagigi’s experience isn’t just about vulnerability. As our new research shows, it’s about the actions people are taking to cope with the changes already here. In response to falling fish numbers and to diversify livelihoods, women leaders launched a new aquaculture project, and they have replanted mangroves to slow the advance of the sea.

    Adaptation is uneven. Many people don’t want to or can’t leave their homes. But as climate change intensifies, change will be unavoidable. Nagigi’s experience points to the importance of communities working collectively to respond to threats.

    Unwelcome change is here

    The communities we focus on, Nagigi village (population 630) and Bia-I-Cake settlement (population 60), are located on Savusavu Bay in Vanua Levu, Fiji’s second largest island. Fishing and marine resources are central to their livelihoods and food security.

    In 2021 and 2023, we ran group discussions (known as talanoa) and interviews to find out about changes seen and adaptations made.

    Nagigi residents have noticed unwelcome changes in recent years. As one woman told us:

    sometimes the sea is coming further onto the land, so there’s a lot of sea intrusion into the plantations, flooding even on land where it never used to be

    Tides are pushing ashore in Nagigi, threatening infrastructure.
    Celia McMichael, CC BY-NC-ND

    In 2016, the devastating Tropical Cyclone Winston destroyed homes and forced some Nagigi residents to move inland to customary mataqali land owned by their clan.

    As one resident said:

    our relocation was smooth because […] we just moved to our own land, our mataqali land.

    But some residents didn’t have access to this land, while others weren’t willing to move away from the coast. One man told us:

    leave us here. I think if I don’t smell or hear the ocean for one day I would be devastated.

    Adaptation is happening

    One striking aspect of adaptation in Nagigi has been the leadership of women, particularly in the small Bia-I-Cake settlement.

    In recent years, the Bia-I-Cake Women’s Cooperative has launched a small-scale aquaculture project to farm tilapia and carp to tackle falling fish stocks in the ocean, tackle rising food insecurity and create new livelihoods.

    Women in the cooperative have built fish ponds, learned how to rear fish to a good size and began selling the fish, including by live streaming the sale. The project was supported by a small grant from the United Nations Development Programme and the Women’s Fund Fiji.

    Recently, the cooperative’s women have moved into mangrove replanting to slow coastal erosion and built a greenhouse to farm new crops.

    As one woman told us, these efforts show women “have the capacity to build a sustainable, secure and thriving community”.

    The community’s responses draw on traditional social structures and values, such as respect for Vanua – the Fijian and Pacific concept of how land, sea, people, customs and spiritual beliefs are interconnected – as well as stewardship of natural resources and collective decision-making through clans and elders, both women and men.

    Nagigi residents have moved to temporarily close some customary fishing grounds to give fish populations a chance to recover. The village is also considering declaring a locally-managed marine area (known as a tabu). This is a response to climate impacts as well as damage to reefs, pollution and overfishing.

    For generations, village residents have protected local ecosystems which in turn support the village. But what is new is how these practices are being strengthened and formalised to respond to new challenges.

    A women’s cooperative have built aquaculture ponds to raise and sell fish.
    Celia McMichael, CC BY-NC-ND

    Adaptation is uneven

    While adaptation is producing some successes, it is unevenly spread. Not everyone has access to customary land for relocation and not every household can afford to rebuild damaged homes.

    What Nagigi teaches us, though, is the importance of local adaptation. Villagers have demonstrated how a community can anticipate risks, respond to change and threats, recover from damage and take advantage of new opportunities.

    Small communities are not just passive sites of loss. They are collectives of strength, agency and ingenuity. As adaptation efforts scale up across the Pacific, it is important to recognise and support local initiatives such as those in Nagigi.

    Sharing effective adaptation methods can give ideas and hope to other communities under real pressure from climate change and other threats.

    Many communities are doing their best to adapt often undertaking community-led adaptation, even despite the limited access Pacific nations have to global climate finance.

    Nagigi’s example shows unwelcome climatic and environmental changes are already arriving. But it’s also about finding ways to live well amid uncertainty and escalating risk by using place, tradition and community.

    The authors acknowledge the support of the people of Nagigi and Bia-I-Cake, and especially the Bia-I-Cake Women’s Cooperative, for sharing their time and insights.

    Celia McMichael receives funding from the Australian Research Council (ARC).

    Merewalesi Yee 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. As seas rise and fish decline, this Fijian village is finding new ways to adapt – https://theconversation.com/as-seas-rise-and-fish-decline-this-fijian-village-is-finding-new-ways-to-adapt-261573

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: From grasslands to killing fields: why trees are bad news for one of Australia’s most stunning birds

    Source: The Conversation (Au and NZ) – By Gabriel Crowley, Adjunct Associate Professor in Geography, University of Adelaide

    JJ Harrison/Wikimedia, CC BY

    Picture this. A small, rainbow-coloured chick emerges from its nest for the first time. It stretches its wings and prepares to take flight. But before the fledgling’s life in the wild has begun, a sharp-beaked predator swoops in, leaving nothing but a tiny skeleton.

    This is the sad scenario playing out on Cape York Peninsula, new analysis shows. There, trees are invading the open, grassy habitat of the endangered golden-shouldered parrot (Psephotellus chrysopterygius). The trees give cover to predators – meaning they can lie in wait, before striking the adult birds and their young.

    The golden-shouldered parrot is endangered, now found in just 5% of its original range. The new findings suggest more work is needed to restore grassland habitat to its former open state, to ensure the parrots’ survival.

    A vanishing species

    The initial decline of the golden-shouldered parrot was likely caused by a loss of food plants and degradation of the termite mounds in which it nests. Birds that remained in two small areas in central Cape York Peninsula faced other issues.

    In the 1990s, researchers began studying the parrot on Artemis Station, to better understand why numbers were declining. A new suspect was identified: native woody plants, such as the broad-leaved tea-tree (Melaleuca viridiflora), which had crept into the birds’ grassy habitat.

    The change was largely due to overgrazing, which reduced fuel loads and led to fewer fires. This allowed the woodland trees to overtake the grasslands. But exactly how were these trees affecting the survival of the golden-shouldered parrot? New research by my colleagues and I set out to answer this question.

    The above image shows the three phases of woodland invading the parrots’ habitat. Left, a few scattered trees establish around the nesting mound. Centre, tea trees emerge from the grass layer. Right, dense thickets of tea trees shade out the termite mounds.
    Gabriel Crowley

    Counting eggs, nest by nest

    We monitored 108 termite-mound nests over three years, tracking the success of 555 eggs. We visited each nest every few days to record whether chicks successfully fledged (grew strong enough to leave the nest) or died.

    We also counted the number of trees around the nests, and recorded signs of interference from predators.

    So what did we find? The proportion of nests that produced a fledgling from every egg decreased in proportion to the number of trees around the nest. The percentage of eggs, chicks and adults that were killed or disappeared from a nest also increased in line with tree numbers.

    That’s because the trees bring different predators – and places for them to hide.

    We suspected reptiles were the main predators. This was due to scratches on the nests and disappearance of eggs without any other signs of damage. While the exact species of reptile predator was hard to pinpoint, we know tree snake numbers increase as woodlands encroach.

    However, of all predators, we found butcherbird numbers increased most strongly as trees crept in. Butcherbirds tear prey apart with their strong, hooked beaks. Trees close to the nests give butcherbirds cover, enabling them to wait for adults or their young to emerge.

    Tragically, we found skulls of chicks pierced by the butcherbirds’ sharp bills. In one case, the shredded flesh of a bird was wedged atop a termite mound.

    Butcherbirds have strong, hooked beaks, which they use to tear apart prey.
    Conservation Partners

    Parrots successfully fledged from just over half of the 555 eggs we monitored.

    In the most dense woodlands, the number of birds that successfully fledged was just one-third of the rate needed to maintain the golden-shouldered parrot’s population.

    Adult birds were lost from one-third of the nests we studied. This is especially troubling. Modelling from similar tropical birds shows this rate of adult deaths can push a species towards extinction.

    Unusually, golden-shouldered parrots nest in termite mounds.
    Peter Valentine

    Restoring the parrots’ grassland home

    The world’s grassland habitats are under threat. This has devastating consequences for species that depend on them – including the golden-shouldered parrot.

    Our findings show Cape York’s grasslands should be maintained and restored to ensure the survival of the golden-shouldered parrot. Much work is needed to ensure the species avoids the fate of its closest relative, the paradise parrot, which is presumed extinct.

    Work is already underway. Golden-shouldered parrot habitat in national parks and on Indigenous-owned land has been destocked, and more traditional Indigenous fire regimes reinstated. This will help maintain open grasslands and reverse early woodland encroachment. Such work is also being undertaken at the study site on Artemis Station.

    Where woody plant invasion is more advanced, more intensive methods have been deployed. At the study site, this includes using chainsaws and brush-cutters to clear trees, before the stump is poisoned.

    Where woody vegetation is well established, trees must be felled to help restore grassland habitat.
    Conservation Partners

    Other measures include installing electric fences to keep out reptiles, reseeding grasslands with food plants and providing feeding stations in seasons when food is scarce.

    Land managers across Cape York have also been provided guidelines for managing woodland encroachment.

    These efforts must be sustained in the long-term, to ensure the golden-shouldered parrot can return to its former range.

    Gabriel Crowley undertook the work cited in this article with Susan Shephard (Artemis Station), Stephen Garnett (Charles Darwin University and Conservation Partners) and Stephen Murphy (Conservation Partners). Funding was provided by the Queensland and federal governments, Gulf Savannah NRM and WWF Australia. Gabriel has provided advice on golden-shouldered parrots and their habitat to the Olkola Aboriginal Corporation, Conservation Partners and Bush Heritage Australia as a volunteer and/or consultant. She is a volunteer for Helen Haines MP (Member for Indi).

    – ref. From grasslands to killing fields: why trees are bad news for one of Australia’s most stunning birds – https://theconversation.com/from-grasslands-to-killing-fields-why-trees-are-bad-news-for-one-of-australias-most-stunning-birds-259898

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Is sleeping a lot actually bad for your health? A sleep scientist explains

    Source: The Conversation (Au and NZ) – By Charlotte Gupta, Senior Postdoctoral Research Fellow, Appleton Institute, HealthWise Research Group, CQUniversity Australia

    Walstrom, Susanne/Getty

    We’re constantly being reminded by news articles and social media posts that we should be getting more sleep. You probably don’t need to hear it again – not sleeping enough is bad for your brain, heart and overall health, not to mention your skin and sex drive.

    But what about sleeping “too much”? Recent reports that sleeping more than nine hours could be worse for your health than sleeping too little may have you throwing up your hands in despair.

    It can be hard not to feel confused and worried. But how much sleep do we need? And what can sleeping a lot really tell us about our health? Let’s unpack the evidence.

    Sleep is essential for our health

    Along with nutrition and physical activity, sleep is an essential pillar of health.

    During sleep, physiological processes occur that allow our bodies to function effectively when we are awake. These include processes involved in muscle recovery, memory consolidation and emotional regulation.

    The Sleep Health Foundation – Australia’s leading not-for-profit organisation that provides evidence-based information on sleep health – recommends adults get seven to nine hours of sleep per night.

    Some people are naturally short sleepers and can function well with less than seven hours.

    However, for most of us, sleeping less than seven hours will have negative effects. These may be short term; for example, the day after a poor night’s sleep you might have less energy, worse mood, feel more stressed and find it harder to concentrate at work.

    In the long term, not getting enough good quality sleep is a major risk factor for health problems. It’s linked to a higher risk of developing cardiovascular disease – such as heart attacks and stroke – metabolic disorders, including type 2 diabetes, poor mental health, such as depression and anxiety, cancer and death.

    So, it’s clear that not getting enough sleep is bad for us. But what about too much sleep?

    Could too much sleep be bad?

    In a recent study, researchers reviewed the results of 79 other studies that followed people for at least one year and measured how sleep duration impacts the risk of poor health or dying to see if there was an overall trend.

    They found people who slept for short durations – less than seven hours a night – had a 14% higher risk of dying in the study period, compared to those who slept between seven and eight hours. This is not surprising given the established health risks of poor sleep.

    However, the researchers also found those who slept a lot – which they defined as more than nine hours a night – had a greater risk of dying: 34% higher than people who slept seven to eight hours.

    This supports similar research from 2018, which combined results from 74 previous studies that followed the sleep and health of participants across time, ranging from one to 30 years. It found sleeping more than nine hours was associated with a 14% increased risk of dying in the study period.

    Research has also shown sleeping too long (meaning more than required for your age) is linked to health problems such as depression, chronic pain, weight gain and metabolic disorders.

    This may sound alarming. But it’s crucial to remember these studies have only found a link between sleeping too long and poor health – this doesn’t mean sleeping too long is the cause of health problems or death.



    Read more:
    If ‘correlation doesn’t imply causation’, how do scientists figure out why things happen?

    So, what’s the link?

    Multiple factors may influence the relationship between sleeping a lot and having poor health.

    It’s common for people with chronic health problems to consistently sleep for long periods. Their bodies may need additional rest to support recovery, or they may spend more time in bed due to symptoms or medication side effects.

    People with chronic health problems may also not be getting high quality sleep, and may stay in bed for longer to try and get some extra sleep.

    Additionally, we know risk factors for poor health, such as smoking and being overweight, are also associated with poor sleep.

    This means people may be sleeping more because of existing health problems or lifestyle behaviours, not that sleeping more is causing the poor health.

    Put simply, sleeping may be a symptom of poor health, not the cause.

    What’s the ideal amount?

    The reasons some people sleep a little and others sleep a lot depend on individual differences – and we don’t yet fully understand these.

    Our sleep needs can be related to age. Teenagers often want to sleep more and may physically need to, with sleep recommendations for teens being slightly higher than adults at eight to ten hours. Teens may also go to bed and wake up later.

    Older adults may want to spend more time in bed. However, unless they have a sleep disorder, the amount they need to sleep will be the same as when they were younger.

    But most adults will require seven to nine hours, so this is the healthy window to aim for.

    It’s not just about how much sleep you get. Good quality sleep and a consistent bed time and wake time are just as important – if not more so – for your overall health.

    The bottom line

    Given many Australian adults are not receiving the recommended amount of sleep, we should focus on how to make sure we get enough sleep, rather than worrying we are getting too much.

    To give yourself the best chance of a good night’s sleep, get sunlight and stay active during the day, and try to keep a regular sleep and wake time. In the hour before bed, avoid screens, do something relaxing, and make sure your sleep space is quiet, dark, and comfortable.

    If you notice you are regularly sleeping much longer than usual, it could be your body’s way of telling you something else is going on. If you’re struggling with sleep or are concerned, speak with your GP. You can also explore the resources on the Sleep Health Foundation website.

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

    – ref. Is sleeping a lot actually bad for your health? A sleep scientist explains – https://theconversation.com/is-sleeping-a-lot-actually-bad-for-your-health-a-sleep-scientist-explains-259991

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Birds use hidden black and white feathers to make themselves more colourful

    Source: The Conversation (Au and NZ) – By Simon Griffith, Professor of Avian Behavioural Ecology, Macquarie University

    The green-headed tanager (_Tangara seledon_) has a hidden layer of plumage that is white underneath the orange feathers and black underneath the blue and green feathers. Daniel Field

    Birds are perhaps the most colourful group of animals, bringing a splash of colour to the natural world around us every day. Indeed, exclusively black and white birds – such as magpies – are in the minority.

    However, new research by a team from Princeton University in the United States has revealed a surprising trick in which birds use those boring black and white feathers to make their colours even more vivid.

    Male golden tanagers (Tangara arthus) have hidden layers of white which make their plumage brighter, while females have hidden layers of black which make their plumage darker.
    Daniel Field

    In the study, published today in Science Advances, Rosalyn Price-Waldman and her colleagues discovered that if coloured feathers are placed over a layer of either white or black underlying feathers, their colours are enhanced.

    A particularly striking discovery was that in some species the different colour of males and females wasn’t due to the colour the two sexes put into the feathers, but rather in the amount of white or black in the layer underneath.

    Why birds are so bright – and how they do it

    Typically, male birds have more vivid colours than females. As Charles Darwin first explained, the most colourful males are more likely to attract mates and produce more offspring than those that aren’t as vivid. This process of “sexual selection” is the evolutionary force that has resulted in most of the colours we see in birds today.

    Evolution is a process that rewards clever solutions in the competition among males to stand out in the crowd. Depositing a layer of black underneath patches of bright blue feathers has enabled males to produce that extra vibrancy that helps them in the competition for mates.

    The blue feathers of a red-necked tanager (Tangara cyanocephala) stand out against a black underlayer.
    Rosalyn Price-Waldman

    The reason the black layer works so well is that it absorbs all the light that passes through the top layer of coloured feathers. The colour we see is blue because those top feathers have a fine structure that scatters light in a particular way, and reflects light in the blue part of the spectrum.

    The feathers appear particularly vivid blue because the light in other wavelengths is absorbed by the under-layer. If the under-layer was paler, some of the light in the other parts of the light spectrum would bounce back and the blue would not “pop out” as much.

    Different tricks for different colours

    Interestingly, in the new study, the researchers found that for yellow feathers the opposite trick works. Yellow feathers contain yellow pigments – carotenoids – and in this case they are enhanced if they have a white under-layer.

    The white layer reflects light that passes through the yellow feathers, and this increases the brightness of these yellow patches, making them more striking in contrast to surrounding patches of colour.

    The red feather tips of a scarlet-rumped tanager (Ramphocelus passerinii) are enhanced by the white feathers beneath them.
    Rosalyn Price-Waldman

    A surprisingly common technique

    The authors focused most of their work on species of tanager, typically very colourful fruit-eating birds that are native to Central and South America.

    However, once they had discovered what was happening in tanagers, they checked to see if it was occurring in other birds.

    The vivid blue colouring of the Australian splendid fairy wren (Malurus splendens) is enhanced by an underlayer of colourless feathers.
    Robbie Goodall / Getty Images

    This additional work revealed that the use of black and white underlying feathers to enhance colour is found in many other bird families, including the Australian fairy wrens which have such vivid blue colouration.

    This widespread use of black and white across so many different species suggests birds have been enhancing the production of colour in this clever way for tens of millions of years, and that it is widely used across birds.

    The color of the vibrant red crown of this red-capped manakin (Ceratopipra mentalis) is magnified by a hidden layer of white plumage.
    Daniel Field

    The study is important because it helps us to understand how complex traits such as colour can evolve in nature. It may also help us to improve the production of vibrant colours in our own architecture, art and fashion.

    Simon Griffith receives funding from the Australian Research Council.

    – ref. Birds use hidden black and white feathers to make themselves more colourful – https://theconversation.com/birds-use-hidden-black-and-white-feathers-to-make-themselves-more-colourful-261567

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Security: Defense News in Brief: CNRC Launches “Top Doc” in Fort Lauderdale

    Source: United States Navy

    FORT LAUDERDALE, Fla. — Navy Recruiting Command launched its national initiative pilot program, “Top Doc,” showcasing Medical Corps capabilities and career paths at Nova Southeastern University’s Fort Lauderdale campus on Saturday, July 12.

    “Top Doc,” is designed to draw in a wide variety of people in various stages of their medical career path. This includes medical students, residents, residency program leaders and staff, and attending physicians in any type of practice or specialty.

    “The involvement of a scholarly team of professionals, enabled by Nova Southeastern University’s prestigious health sciences programs, is a cornerstone of our excitement for launching the ‘Top Doc,’ pilot in South Florida, where we’ve received unparalleled community support,” said Capt. Tara Mcginnis, medical officer programs officer, Navy Recruiting Command. “This event captivates Florida residents by showcasing Navy Medicine’s advanced emergency care techniques, directly relevant to the state’s veteran and active-duty communities. It offers local medical professionals and students the chance to explore rewarding careers in Navy Medicine, while residents take pride in the military-civilian partnerships fostered here.”

    Mcginnis believes the “Top Doc” initiative prioritizes the Medical Corps by attracting top medical talent from medical schools, residencies, and direct accessions.

    “The experience offers military medical trainees and staff the opportunity to collaborate with civilian healthcare programs, foster a mutual exchange of knowledge, innovation, and service,” said Navy Counselor (Recruiting) 1st Class Jason Catano, assigned to the Hometown Medical Recruiter pilot program with Medical Accessions, Navy Recruiting Command. “The whole intent with this is to bring that all to the table and also give an opportunity to have hands-on training with the different professionals that are here from different career fields.”

    Navy Bureau of Medicine and Surgery (BUMED), the headquarters for Navy Medicine, was represented at “Top Doc,” by surgeons, an anesthesiologist, and a dermatologist. Tactical Combat Casualty Care (TCCC) instructors, Nurse Corps officers, and enlisted hospital corpsmen also lent their experience and expertise to the event.

    Matthew Chenworth, senior director of military affairs for Nova Southeastern University and Marine Corps veteran, believes ensuring connecting the university’s students, faculty, and staff with the military is a top priority. Chenworth says NSU’s collaboration on “Top Doc,” and the long-standing relationship with NTAG Miami helps to achieve that goal.

    “We’ve been coordinating a lot of scholarship opportunities specifically with our medical students who are looking to serve their country as a medical officer with the United States Navy upon their graduation,” said Chenworth. “We introduced [“Top Doc”] to our pre-medicine students, our nursing students, and to those who are currently within our health profession division that are going to be [Doctor of Osteopathic Medicine, Medical Doctors, and Physician Assistants]. We also extended the invite to our public safety office as well because those might be skills that our security officers here on campus may need.”

    This joint effort brought in local medical professionals and community leaders, adding to the value of the event. Dr. Joshua Lenchus, former Florida Medical Association president, and Dr. Aeyal Oren, general surgeon in private practice, spent time working with simulation manikins and leading procedural demonstrations.

    “It was a big role to step into, but I have prior experience doing simulation experience with my training down in Miami as well as dealing with the military because we ran trauma simulations there as well,” said Lenchus. “I think that the opportunities in the military are tremendous and there’s never enough gratitude that we can pay to the people who choose to put on the uniform and serve this country.”

    Lenchus believes that while financial aid is extremely important, the leadership development gained through the military’s specialized training and coursework—often not available in the civilian sector—is equally vital.

    Those in attendance gained insights from active-duty and reserve healthcare professionals working in the fleet.

    Navy Medicine personnel presented specialized training capabilities on simulation tools, such as the TCCC Cut Suit, used to train medical personnel in treating battlefield traumas. Several presenters shared information sessions explaining the availability and requirements of medical officer programs and how they applied those programs in their careers.

    Lt. Gahen Pendlebury, a full-time out-service medical officer and, emergency medicine resident, facilitated at the event.

    “What I’ve realized through talking with civilian colleagues is that there are a lot of misconceptions [about military careers],” said Pendlebury. “Some people think that they’re too old, and they are no where near that. Some think that because they went to a Caribbean school, they can’t join as physicians. There are all sorts of entryways. These types of events really help not only expand Navy branding, but really help people understand that it’s not too late and that there are different pathways.”

    Pendlebury believes there is a need for these kinds of events where interested people can obtain information about different career paths in Navy Medicine whether as active duty or reserve Sailors.

    David Missel, a first-year optometry student at NSU and Navy medical officer applicant, said he attended “Top Doc,” to learn more about Navy Medicine and to celebrate his commitment to serve upon graduation.

    “I decided to come here today because I’ve really had a passion for the Navy ever since I was a little kid,” said Missel. “I didn’t even know that I could be an optometrist in the Navy until very recently. Speaking to a recruiter and other people in the Navy, the more I learned about it the more I realize that this is such an amazing program and it’s a wonderful career opportunity. I’m just really looking forward to diving into this.”

    Navy Medicine, represented by more than 44,000 highly trained military and civilian health care professionals, provides enduring expeditionary medical support to the warfighter any time, any place.

    Missed the event but want to learn about Navy Medicine opportunities? Visit www.navy.com/navy-medicine or call 1-800-USA-NAVY for information.

    NTAG Miami, has 38 recruiting locations throughout South Florida, Puerto Rico and the Virgin Islands, with the combined mission to recruit the highest caliber Sailors to meet the needs of the Fleet.

    Navy Recruiting Command consists of a command headquarters, two Navy Recruiting Regions, Navy Recruiting Reserve Command, and 26 NTAGs that serve more than 970 recruiting stations around the world. Their mission is to attract the highest quality candidates to assure the ongoing success of America’s Navy.

    MIL Security OSI –

  • MIL-OSI United Nations: United Nations Board of Auditors Holds Seventy-Ninth Regular Session, 22-23 July at UN Headquarters, New York

    Source: United Nations General Assembly and Security Council

    The General Assembly established the United Nations Board of Auditors in 1946 as an important mechanism to promote accountability and transparency in the United Nations.  The Board audits the accounts of the United Nations Organization and its funds and programmes and reports its findings and recommendations to the General Assembly, through the Advisory Committee on Administrative and Budgetary Questions (ACABQ), and other governing bodies.  The Board has three members, who are jointly responsible for the audit.

    The Board held its seventy-ninth regular session in New York on 22 and 23 July.  The session was chaired by Pierre Moscovici, First President of the French Cour des comptes.  Together with Mr. Moscovici, Hou Kai, Auditor-General of the National Audit Office of China, and Vital do Rêgo Filho, President of the Brazilian Federal Court of Accounts, collectively discussed findings and audit opinions.

    During the session the Board met with the Secretary-General and the Deputy Secretary-General to exchange on cross-cutting issues.

    Through its work, the Board provides independent assurance to Member States and other stakeholders regarding proper use of the resources of the United Nations entities.  It reports on financial matters, as well as on regularity and performance issues.  It plays a significant role in assisting the United Nations to improve its operations and internal control systems.  The findings and recommendations of the Board have led to continuous systematic improvements in the functioning of the United Nations.

    This year the Board audited the financial statements and reviewed the operations of 18 organizations and submitted the reports to the General Assembly.  All the audited entities received unqualified opinions.  Key trends and cross-entity issues have been gathered in the Board’s Concise Summary report, which focused specifically on inter-agency cooperation as a way to improve cost effectiveness.  The Board further produced three reports for submission to other governing bodies.  More detailed information about the Board’s findings can be found in the individual reports published on the Board’s website (http://www.un.org/en/auditors/board/).

    ANNEX

    List of Board Reports

    Reports Submitted to General Assembly

    France

    1. United Nations Development Programme (UNDP)
    2. United Nations Capital Development Fund (UNCDF)
    3. United Nations High Commissioner for Refugees – (UNHCR)
    4. Concise summary of findings and conclusions

    China

    5. United Nations, Vol.1
    6. International Trade Centre (ITC)
    7. United Nations Office for Projects Services (UNOPS)
    8. United Nations Relief and Works Agency (UNRWA)
    9. United Nations Environment Programme (UNEP)
    10. United Nations Human Settlement Fund (UN-Habitat)

    Brazil

    11. United Nations University (UNU)
    12. United Nations Institute for Training and Research (UNITAR)
    13. United Nations Population Fund (UNFPA)
    14. United Nations Drug Control Programme (UNODC)
    15. United Nations Entity for Gender Equality and Empowerment of Women (UN-Women)
    16. International Residual Mechanism for Criminal Tribunals (IRMCT)
    17. United Nations Joint Staff Pension Fund
    18. United Nations Children’s Fund (UNICEF)

    Reports Submitted to Other Governing Bodies

    France

    19. United Nations Framework Convention on Climate Change
    20. United Nations Convention to Combat Desertification

    China

    21. UNRWA Staff Provident Fund

    MIL OSI United Nations News –

  • MIL-OSI USA: Attorney General Alan Wilson leads 17-state brief supporting efforts to exclude racially or sexually divisive materials from public schoolsRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announced today that he is leading a 17-state effort to support state lawmakers’ efforts to keep racially or sexually divisive materials out of public schools.

    “Our schools are supposed to be places of learning and collaboration, not indoctrination into woke ideologies that assign blame or condemnation based on race or sex,” Attorney General Wilson said.

    The South Carolina legislature passed a budget proviso that says the state Department of Education cannot use state money for any instructional materials that teach that one race or sex is inherently superior to another race or sex, or that someone is inherently racist, sexist, or oppressive by virtue of their race or sex. (You can read the Budget Proviso here.)

    The South Carolina NAACP, two authors, a teacher, and several students filed a lawsuit to block the proviso, arguing that it violates their First Amendment rights. The attorneys general filed a friend-of-the-court brief in that lawsuit supporting lawmakers’ right to decide which materials belong in public schools.

    The attorneys general argue that the Court doesn’t need to endorse the state’s restriction on racially or sexually divisive materials in public schools as sound public policy, only that it needs to follow precedent that says the selection, curation, and placement of educational materials in public schools is a form of government speech.

    “A citizen’s right to receive information under the First Amendment is not a right to compel or extract information from the government at the taxpayers’ expense. Accordingly, there is no First Amendment right to compel state-funded schools to implement certain course curricula or require public school libraries to stock their bookshelves with inflammatory and prejudicial materials,” the attorneys general write in their brief.

    They also argue that the proviso does not prevent anyone from receiving that information, but rather prevents children from accessing the material in public schools at taxpayers’ expense.

    They ask the Court to deny the plaintiffs’ motion for a preliminary injunction and dismiss the case, holding that the plaintiffs are unlikely to succeed on their First Amendment claims.

    Joining Attorney General Wilson in the brief are the attorneys general from Alabama, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Louisiana, Missouri, Montana, Nebraska, Oklahoma, South Dakota, Texas, Utah, and West Virginia.

    You can read their brief here.

    MIL OSI USA News –

  • MIL-OSI: Origin Bancorp, Inc. Reports Earnings for Second Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    RUSTON, La., July 23, 2025 (GLOBE NEWSWIRE) — Origin Bancorp, Inc. (NYSE: OBK) (“Origin,” “we,” “our” or the “Company”), the holding company for Origin Bank (the “Bank”), today announced net income of $14.6 million, or $0.47 diluted earnings per share (“EPS”) for the quarter ended June 30, 2025, compared to net income of $22.4 million, or $0.71 diluted earnings per share, for the quarter ended March 31, 2025. Pre-tax, pre-provision (“PTPP”)(1) earnings were $21.5 million for the quarter ended June 30, 2025, compared to $32.0 million for the linked quarter.

    “During the second quarter, we continued to successfully execute on Optimize Origin, our plan to deliver elite level financial performance for Origin and our shareholders,” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “Throughout the first half of the year, we have created efficiencies within our branch network, improved the overall profitability of our commercial banking team, restructured our mortgage business, and taken multiple actions to optimize our balance sheet. As we head into the back half of 2025, we are well-positioned in the nation’s most dynamic growth markets; and I have full confidence that our employees will continue delivering exceptional value to our customers, communities, and shareholders.”

    (1) PTPP earnings is a non-GAAP financial measure, please see the last few pages of this document for a reconciliation of this alternative financial measure to its most directly comparable GAAP measure.

    Optimize Origin

    • In January 2025, we announced our initiative to drive elite financial performance and enhance our award-winning culture.
    • Built on three primary pillars:
      • Productivity, Delivery & Efficiency
      • Balance Sheet Optimization
      • Culture & Employee Engagement
    • Established near term target of greater than a 1% ROAA run rate by 4Q25 and an ultimate target of top quartile ROAA.
    • Near term target is being achieved in part by branch consolidation, headcount reduction, securities optimization, capital optimization, cash/liquidity management, mortgage restructuring, as well as other opportunistic efficiency optimizations throughout the organization.
    • We believe the actions we have taken will drive earnings improvement of approximately $34.2 million annually on a pre-tax pre-provision basis – an increase of approximately $10.8 million since the last quarterly update, due to additional benefits from increasing our Argent Financial ownership and further securities portfolio optimization.
             

    Financial Highlights

    • Net interest income was $82.1 million for the quarter ended June 30, 2025, reflecting an increase of $3.7 million, or 4.7%, compared to the linked quarter and is at its highest level in the previous nine quarters.
    • Our fully tax equivalent net interest margin (“NIM-FTE”) expanded 17 basis points to 3.61% for the quarter ended June 30, 2025, compared to the quarter ended March 31, 2025. The increase was primarily driven by an eight-basis point increase in the yield earned on average interest-earning assets and a five-basis point decline in the rate paid on average interest-bearing liabilities.
    • As part of our bond portfolio optimization strategy, we sold available-for-sale investment securities with a book value of $215.8 million and realized a loss of $14.4 million during the quarter ended June 30, 2025. This transaction, net of the increase in interest income, negatively impacted diluted EPS by $0.35, but contributed approximately two basis points to our NIM-FTE for the quarter ended June 30, 2025, with an estimated twelve-month total positive impact to NIM-FTE of six basis points.
    • Total loans held for investment (“LHFI”) were $7.68 billion at June 30, 2025, reflecting an increase of $98.9 million, or 1.3%, compared to March 31, 2025. LHFI, excluding mortgage warehouse lines of credit (“MW LOC”), were $7.11 billion at June 30, 2025, reflecting a decrease of $71.7 million, or 1.0%, compared to March 31, 2025.
    • During the quarter ended June 30, 2025, we repurchased 136,399 shares of our common stock at an average price of $31.84 per share. Also, in July 2025, our board of directors approved a stock repurchase program authorizing the purchase of up to $50.0 million of the Company’s outstanding common stock over the next three years, replacing the existing plan which expires this month.
    • Book value per common share was $38.62 at June 30, 2025, reflecting an increase of $0.85, or 2.3%, compared to March 31, 2025 and $3.39, or 9.6%, compared to June 30, 2024. Tangible book value per common share(1) was $33.33 at June 30, 2025, reflecting an increase of $0.90, or 2.8%, compared to March 31, 2025 and $3.56, or 12.0%, compared to June 30, 2024.
    • As part of our Optimize Origin initiatives, we purchased additional shares of Argent Financial on July 1, 2025, which allowed us to reach the 20% ownership threshold. This will change our accounting methodology on this investment to the equity method, which will result in an increase in noninterest income.

    (1) Tangible book value per common share is a non-GAAP financial measure, please see the last few pages of this document for a reconciliation of this alternative financial measure to its most directly comparable GAAP measure.

    Results of Operations for the Quarter Ended June 30, 2025

    Net Interest Income and Net Interest Margin

    Net interest income for the quarter ended June 30, 2025, was $82.1 million, an increase of $3.7 million, or 4.7%, compared to the quarter ended March 31, 2025. The increase was primarily driven by a $4.1 million increase in interest income earned on LHFI and decreases of $1.6 million and $1.1 million in interest expense paid on interest-bearing deposits and subordinated debentures, respectively, partially offset by a $3.0 million decrease in interest income earned on interest-earning balances due from banks and a $1.1 million increase in interest expense on FHLB advances and other borrowings.

    The increase in average LHFI principal balances and the impact of one more calendar day during the quarter ended June 30, 2025, resulted in interest income increases of $3.1 million and $1.3 million, respectively, when compared to the quarter ended March 31, 2025. The increase in average LHFI principal balances was primarily driven by increases of $191.1 million and $64.1 million in MW LOC and commercial and industrial loans, respectively, partially offset by a decrease of $77.1 million in total average real estate loan balances.

    The $1.6 million decrease in interest expense on interest-bearing deposits was mainly due to a $232.8 million decrease in average interest-bearing deposits balance, during the quarter ended June 30, 2025, when compared to the quarter ended March 31, 2025. Due primarily to the seasonality of the deposits, interest-bearing public fund average deposit balances decreased $163.5 million during the quarter ended June 30, 2025.

    The $1.1 million decrease in interest expense on subordinated debentures was primarily driven by the redemption of $70.0 million in subordinated debentures during the quarter ended March 31, 2025, in conjunction with our Optimize Origin initiatives.

    The $3.0 million decrease in interest income earned on average interest-earning balances due from banks was primarily driven by a $267.4 million decrease in average interest-earning balances due from banks.

    The $97.8 million increase in average FHLB advances and other borrowings balance contributed $664,000 to the total $1.1 million increase in interest expense on FHLB advances and other borrowings during the quarter ended June 30, 2025. The remaining increase was primarily driven by an increase in the average rate paid on FHLB advances and other borrowings rising to 4.36% for the quarter ended June 30, 2025, from 2.75% for the quarter ended March 31, 2025. The average short-term FHLB balances were $98.4 million for the quarter ended June 30, 2025, compared to zero for the quarter ended March 31, 2025.

    The Federal Reserve Board sets various benchmark rates, including the federal funds rate, and thereby influences the general market rates of interest, including the loan and deposit rates offered by financial institutions. On September 18, 2024, the Federal Reserve reduced the federal funds target rate range by 50 basis points, to a range of 4.75% to 5.00%, marking the first rate reduction since early 2020. Subsequently, it implemented two additional reductions, with the current federal funds target range set to 4.25% to 4.50% on December 18, 2024. In total, the federal funds target range has decreased 100 basis points from its recent cycle high.

    Our NIM-FTE was 3.61% for the quarter ended June 30, 2025, representing 17- and 44-basis-point increases compared to the linked quarter and the quarter ended June 30, 2024, respectively. The yield earned on interest-earning assets for the quarter ended June 30, 2025, was 5.87%, an increase of eight basis points compared to the linked quarter and a decrease of 17 basis points compared to the quarter ended June 30, 2024. The average rate paid on total interest-bearing liabilities for the quarter ended June 30, 2025, was 3.25%, representing a decrease of five- and 73-basis points compared to the linked quarter and the quarter ended June 30, 2024, respectively. Additionally, total loans represented 83.6% of average interest-earning assets during the quarter ended June 30, 2025, up from 80.8% during the quarter ended March 31, 2025, providing a favorable shift in the asset mix that contributed to the margin improvement.

    During the quarter ended June 30, 2025, we executed a bond portfolio optimization strategy aimed at enhancing long-term yields and improving overall portfolio performance. This strategy involved selling lower-yielding available-for-sale investment securities and using the proceeds to purchase higher-yielding available-for-sale investment securities. As a result, we replaced securities with a total book value of $215.8 million and a weighted average yield of 2.60% with new securities totaling $201.8 million with a weighted average yield of 5.23%, realizing a loss of $14.4 million. The weighted average duration of the securities portfolio increased to 4.52 years as of June 30, 2025, compared to 4.10 years as of March 31, 2025. As part of the strategy, we also entered into interest rate swaps designated as fair value hedges on seven of these purchased securities with a total book value of $41.3 million, to help reduce potential volatility in the fair value of these securities due to changes in market rates. While this transaction resulted in a $0.35 negative impact to diluted EPS during the quarter ended June 30, 2025, due to the realized loss net of the increase in interest income, we believe the trade-off in yield represents an attractive opportunity. This transaction is expected to generate an estimated annual increase in net interest income of $5.6 million, with an estimated earn-back period of 2.6 years and an estimated twelve-month total positive impact to NIM-FTE of six basis points. We will continue to evaluate and identify any additional opportunities that may present themselves to maximize our return on our securities portfolio.

    Credit Quality

    The table below includes key credit quality information:

      At and For the Three Months Ended   Change   % Change
    (Dollars in thousands, unaudited) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   Linked
    Quarter    		   Linked
    Quarter
    Past due LHFI(1) $ 67,626     $ 72,774     $ 66,276     $ (5,148 )   7.1 %
    Past due 30 to 89 days and still accruing   12,495       42,587       17,080       (30,092 )   70.7  
    Allowance for loan credit losses (“ALCL”)   92,426       92,011       100,865       415     0.5  
    Classified loans   127,637       127,676       118,254       (39 )   —  
    Total nonperforming LHFI   85,315       81,368       75,812       3,947     4.9  
    Provision for credit losses   2,862       3,444       5,231       (582 )   16.9  
    Net charge-offs   2,300       2,728       2,946       (428 )   15.7  
    Credit quality ratios(2):                  
    ALCL to nonperforming LHFI   108.33 %     113.08 %     133.05 %   (4.75) %   N/A
    ALCL to total LHFI   1.20       1.21       1.27       (0.01 )   N/A
    ALCL to total LHFI, adjusted(3)   1.29       1.28       1.34       0.01     N/A
    Classified loans to total LHFI   1.66       1.68       1.49       (0.02 )   N/A
    Nonperforming LHFI to LHFI   1.11       1.07       0.95       0.04     N/A
    Net charge-offs to total average LHFI (annualized)   0.12       0.15       0.15       (0.03 )   N/A

    ___________________________

      N/A = Not applicable.
    (1) Past due LHFI are defined as loans 30 days or more past due and includes past due nonperforming loans.
    (2) Please see the Loan Data schedule at the back of this document for additional information.
    (3) The ALCL to total LHFI, adjusted, is calculated by excluding the ALCL for MW LOC loans from the total LHFI ALCL in the numerator and excluding the MW LOC loans from the LHFI in the denominator. Due to their low-risk profile, MW LOC loans require a disproportionately low allocation of the ALCL.
       

    Loans past due 30-89 days and still accruing decreased $30.1 million for the current quarter compared to the linked quarter. The decrease was primarily driven by three loan relationships totaling $10.7 million that were paid off in the current quarter. Also contributing to the decrease in loans 30-89 days past due and still accruing were three loan relationships that are now over 90 days past due and nonperforming totaling $10.6 million and two loan relationships that are now no longer past due totaling $3.0 million.

    Nonperforming LHFI increased $3.9 million for the current quarter compared to the linked quarter, evidenced by an increase in the percentage of nonperforming LHFI to LHFI to 1.11% compared to 1.07% for the linked quarter. The increase in nonperforming loans was primarily driven by four relationships totaling $12.9 million at June 30, 2025. The increase was partially offset by $3.6 million in payments from two relationships and further reduced by total charge-offs of $2.9 million.

    Our results included a credit loss provision expense of $2.9 million during the quarter ended June 30, 2025, which includes a $2.7 million provision for loan credit losses, compared to provision for loan credit losses of $3.7 million for the linked quarter. Net charge-offs decreased $428,000 for the quarter ended June 30, 2025, when compared to the quarter ended March 31, 2025, primarily due to total charge-offs of $4.8 million in the linked quarter, consisting primarily of two commercial and industrial loan relationships with charge-offs totaling $2.6 million, with no comparably sized charge-offs during the current quarter.

    Noninterest Income

    Noninterest income for the quarter ended June 30, 2025, was $1.4 million, a decrease of $14.2 million, or 91.2%, from the linked quarter, primarily driven by a $14.4 million loss on sales of securities, net, and a $1.3 million decrease in insurance commission and fee income, respectively, in the current quarter. These decreases were partially offset by an increase of $902,000 in swap fee income.

    The loss on sales of securities, net, during the current quarter was due to the execution of the bond portfolio optimization strategy discussed above.

    The decrease in insurance commission and fee income was primarily driven by a seasonal increase in annual contingency fee income recognized in the first quarter with no comparable increase in the current quarter.

    The increase in swap fee income was due to both an attractive interest rate environment which is increasingly conducive to facilitating back-to-back swaps for our customers and an increased focus on the marketing of customer swaps as part of Optimize Origin.

    Noninterest Expense

    Noninterest expense for the quarter ended June 30, 2025, was $62.0 million, a decrease of $85,000, or 0.1% from the linked quarter. The decrease was primarily driven by a decrease of $1.4 million in occupancy and equipment, net, that was partially offset by increases of $549,000 and $475,000 in salaries and employee benefit expense and data processing expense, respectively.

    The $1.4 million decrease in occupancy and equipment, net was primarily due to cost incurred in the linked quarter in connection with the closure of banking centers as a part of Optimize Origin.

    The $549,000 increase in salaries and employee benefit expense was primarily due to the adjustment of the incentive compensation accrual which drove the salaries and employee benefit expense lower during the linked quarter.

    The $475,000 increase in data processing expense was primarily due to higher loan workflow software costs during the current quarter compared to the linked quarter.

    Financial Condition

    Loans

    • Total LHFI at June 30, 2025, were $7.68 billion, an increase of $98.9 million, or 1.3%, from $7.59 billion at March 31, 2025, and a decrease of $274.7 million, or 3.5%, compared to June 30, 2024.
    • The primary drivers of the increase during the quarter ended June 30, 2025, compared to the linked quarter, were increases in MW LOC, multi-family real estate and owner occupied commercial real estate of $170.6 million, $40.1 million and $34.8 million, respectively. These increases were partially offset by decreases of $144.9 million and $10.9 million in construction/land/land development loans and commercial and industrial loans, respectively.

    Securities

    • Total securities at June 30, 2025 were $1.14 billion, a decrease of $34.9 million, or 3.0%, from $1.18 billion at March 31, 2025, and a decrease of $34.1 million, or 2.9%, compared to June 30, 2024.
    • The decrease in securities was primarily due to maturities of short-term investments and net sales of available for sale securities during the current quarter.
    • In connection with Optimize Origin, we made a strategic decision to replace lower yielding available-for-sale securities with a total book value of $215.8 million with higher-yielding securities totaling $201.8 million. Additional details about this transaction is disclosed above in the Net Interest Income and Net Interest Margin section of this release.
    • Accumulated other comprehensive loss, net of taxes, primarily associated with unrealized losses within the available for sale portfolio, was $73.6 million at June 30, 2025, a decrease of $16.9 million, or 18.6%, from the linked quarter.
    • The weighted average effective duration for the total securities portfolio was 4.52 years as of June 30, 2025, compared to 4.10 years as of March 31, 2025.

    Deposits

    • Total deposits at June 30, 2025, were $8.12 billion, a decrease of $215.4 million, or 2.6%, compared to March 31, 2025, and a decrease of $387.8 million, or 4.6%, from June 30, 2024. Seasonality in our public fund deposits drove $99.7 million of the current quarter decline when compared to March 31, 2025.
    • The decrease in total deposits at June 30, 2025, compared to the linked quarter was primarily due to decreases of $159.0 million, $57.3 million and $47.1 million in interest-bearing demand deposits, time deposits (excluding brokered time deposits) and noninterest-bearing deposits, respectively. The decrease was partially offset by an increase of $92.6 million in money market deposits. 
    • At June 30, 2025 and March 31, 2025, noninterest-bearing deposits as a percentage of total deposits were 22.7%. At June 30, 2024, noninterest-bearing deposits as a percentage of total deposits were 21.9%.

    Borrowings

    • FHLB advances and other borrowings at June 30, 2025, were $127.8 million, an increase of $115.4 million from $12.5 million at March 31, 2025, and an increase of $87.1 million compared to June 30, 2024. The increase in the current quarter compared to the linked quarter is primarily due to an increase in FHLB short-term borrowings of $115.0 million used primarily to meet current liquidity needs.
    • Average FHLB advances were $104.5 million for the quarter ended June 30, 2025, an increase of $98.3 million from $6.2 million for the quarter ended March 31, 2025 and an increase of $68.8 million from June 30, 2024.

    Conference Call

    Origin will hold a conference call to discuss its second quarter 2025 results on Thursday, July 24, 2025, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). To participate in the live conference call, please dial +1 (929) 272-1574 (U.S. Local / International 1); +1 (857) 999-3259 (U.S. Local / International 2); +1 (888) 700-7550 (U.S. Toll Free), enter Conference ID: 05905 and request to be joined into the Origin Bancorp, Inc. (OBK) call. A simultaneous audio-only webcast may be accessed via Origin’s website at www.origin.bank under the investor relations, News & Events, Events & Presentations link or directly by visiting https://dealroadshow.com/e/ORIGINQ2.

    If you are unable to participate during the live webcast, the webcast will be archived on the Investor Relations section of Origin’s website at www.origin.bank, under Investor Relations, News & Events, Events & Presentations.

    About Origin

    Origin Bancorp, Inc. is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly owned bank subsidiary, Origin Bank, was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently operates more than 55 locations in Dallas/Fort Worth, East Texas, Houston, North Louisiana, Mississippi, South Alabama and the Florida Panhandle. For more information, visit www.origin.bank.

    Non-GAAP Financial Measures

    Origin reports its results in accordance with generally accepted accounting principles in the United States of America (“GAAP”). However, management believes that certain supplemental non-GAAP financial measures may provide meaningful information to investors that is useful in understanding Origin’s results of operations and underlying trends in its business. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Origin’s reported results prepared in accordance with GAAP. The following are the non-GAAP measures used in this release: PTPP earnings, PTPP ROAA, tangible book value per common share, ROATCE, and core efficiency ratio.

    Please see the last few pages of this release for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.

    Forward-Looking Statements

     This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding Origin Bancorp, Inc’s (“Origin”, “we”, “our” or the “Company”) future financial performance, business and growth strategies, projected plans and objectives, and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including changes to interest rates by the Federal Reserve and the resulting impact on Origin’s results of operations, estimated forbearance amounts and expectations regarding the Company’s liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions and current expectations, estimates and projections about Origin and its subsidiaries, any of which may change over time and some of which may be beyond Origin’s control. Statements or statistics preceded by, followed by or that otherwise include the words “assumes,” “anticipates,” “believes,” “estimates,” “expects,” “foresees,” “intends,” “plans,” “projects,” and similar expressions or future or conditional verbs such as “could,” “may,” “might,” “should,” “will,” and “would” and variations of such terms are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Further, certain factors that could affect Origin’s future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: (1) the impact of current and future economic conditions generally and in the financial services industry, nationally and within Origin’s primary market areas, including the impact of tariffs, as well as the financial stress on borrowers and changes to customer and client behavior as a result of the foregoing; (2) changes in benchmark interest rates and the resulting impacts on net interest income; (3) deterioration of Origin’s asset quality; (4) factors that can impact the performance of Origin’s loan portfolio, including real estate values and liquidity in Origin’s primary market areas; (5) the financial health of Origin’s commercial borrowers and the success of construction projects that Origin finances; (6) changes in the value of collateral securing Origin’s loans; (7) the impact of generative artificial intelligence; (8) Origin’s ability to anticipate interest rate changes and manage interest rate risk; (9) the impact of heightened regulatory requirements, reduced debit interchange and overdraft income and the possibility of facing related adverse business consequences if our total assets grow in excess of $10 billion as of December 31 of any calendar year; (10) the effectiveness of Origin’s risk management framework and quantitative models; (11) Origin’s inability to receive dividends from Origin Bank and to service debt, pay dividends to Origin’s common stockholders, repurchase Origin’s shares of common stock and satisfy obligations as they become due; (12) the impact of labor pressures; (13) changes in Origin’s operation or expansion strategy or Origin’s ability to prudently manage its growth and execute its strategy; (14) changes in management personnel; (15) Origin’s ability to maintain important customer relationships, reputation or otherwise avoid liquidity risks; (16) increasing costs as Origin grows deposits; (17) operational risks associated with Origin’s business; (18) significant turbulence or a disruption in the capital or financial markets and the effect of market disruption and interest rate volatility on our investment securities; (19) increased competition in the financial services industry, particularly from regional and national institutions, as well as from fintech companies; (20) compliance with governmental and regulatory requirements and changes in laws, rules, regulations, interpretations or policies relating to financial institutions; (21) periodic changes to the extensive body of accounting rules and best practices; (22) further government intervention in the U.S. financial system; (23) a deterioration of the credit rating for U.S. long-term sovereign debt; (24) Origin’s ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets; (25) natural disasters and other adverse weather events, pandemics, acts of terrorism, war, and other matters beyond Origin’s control; (26) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; (27) fraud or misconduct by internal or external actors (including Origin employees); (28) cybersecurity threats or security breaches and the cost of defending against them; (29) Origin’s ability to maintain adequate internal controls over financial and non-financial reporting; and (30) potential claims, damages, penalties, fines, costs and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions. For a discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Origin’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any updates to those sections set forth in Origin’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Origin’s underlying assumptions prove to be incorrect, actual results may differ materially from what Origin anticipates. Accordingly, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Origin does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

    New risks and uncertainties arise from time to time, and it is not possible for Origin to predict those events or how they may affect Origin. In addition, Origin cannot assess the impact of each factor on Origin’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Origin or persons acting on Origin’s behalf may issue. Annualized, pro forma, adjusted, projected, and estimated numbers are used for illustrative purposes only, are not forecasts, and may not reflect actual results.

    This press release contains projected financial information with respect to Origin, including with respect to certain goals and strategic initiatives of Origin and the anticipated benefits thereof. This projected financial information constitutes forward-looking information and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to significant business, economic (including interest rate), competitive, and other risks and uncertainties. Actual results may differ materially from the results contemplated by the projected financial information contained herein and the inclusion of such projected financial information in this release should not be regarded as a representation by any person that such actions will be taken or accomplished or that the results reflected in such projected financial information with respect thereto will be achieved.

    Contact:

    Investor Relations
    Chris Reigelman
    318-497-3177
    chris@origin.bank

    Media Contact
    Ryan Kilpatrick
    318-232-7472
    rkilpatrick@origin.bank

    Origin Bancorp, Inc.
    Selected Quarterly Financial Data
    (Unaudited) 
     
      Three Months Ended
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
                       
    Income statement and share amounts (Dollars in thousands, except per share amounts)
    Net interest income $ 82,136     $ 78,459     $ 78,349     $ 74,804     $ 73,890  
    Provision (benefit) for credit losses   2,862       3,444       (5,398 )     4,603       5,231  
    Noninterest income (loss)   1,368       15,602       (330 )     15,989       22,465  
    Noninterest expense   61,983       62,068       65,422       62,521       64,388  
    Income before income tax expense   18,659       28,549       17,995       23,669       26,736  
    Income tax expense   4,012       6,138       3,725       5,068       5,747  
    Net income $ 14,647     $ 22,411     $ 14,270     $ 18,601     $ 20,989  
    PTPP earnings(1) $ 21,521     $ 31,993     $ 12,597     $ 28,272     $ 31,967  
    Basic earnings per common share   0.47       0.72       0.46       0.60       0.68  
    Diluted earnings per common share   0.47       0.71       0.46       0.60       0.67  
    Dividends declared per common share   0.15       0.15       0.15       0.15       0.15  
    Weighted average common shares outstanding – basic   31,192,622       31,205,752       31,155,486       31,130,293       31,042,527  
    Weighted average common shares outstanding – diluted   31,327,818       31,412,010       31,308,805       31,239,877       31,131,829  
                       
    Balance sheet data                  
    Total LHFI $ 7,684,446     $ 7,585,526     $ 7,573,713     $ 7,956,790     $ 7,959,171  
    Total LHFI excluding MW LOC   7,109,698       7,181,395       7,224,632       7,461,602       7,452,666  
    Total assets   9,678,158       9,750,372       9,678,702       9,965,986       9,947,182  
    Total deposits   8,123,036       8,338,412       8,223,120       8,486,568       8,510,842  
    Total stockholders’ equity   1,205,769       1,180,177       1,145,245       1,145,673       1,095,894  
                       
    Performance metrics and capital ratios                  
    Yield on LHFI   6.33 %     6.33 %     6.47 %     6.67 %     6.58 %
    Yield on interest-earnings assets   5.87       5.79       5.91       6.09       6.04  
    Cost of interest-bearing deposits   3.20       3.23       3.61       4.01       3.95  
    Cost of total deposits   2.47       2.52       2.79       3.14       3.08  
    NIM – fully tax equivalent (“FTE”)   3.61       3.44       3.33       3.18       3.17  
    Return on average assets (annualized) (“ROAA”)   0.60       0.93       0.57       0.74       0.84  
    PTPP ROAA (annualized)(1)   0.89       1.32       0.50       1.13       1.28  
    Return on average stockholders’ equity (annualized) (“ROAE”)   4.94       7.79       4.94       6.57       7.79  
    Return on average tangible common equity (annualized) (“ROATCE”)(1)   5.74       9.09       5.78       7.74       9.25  
    Book value per common share $ 38.62     $ 37.77     $ 36.71     $ 36.76     $ 35.23  
    Tangible book value per common share(1)   33.33       32.43       31.38       31.37       29.77  
    Efficiency ratio(2)   74.23 %     65.99 %     83.85 %     68.86 %     66.82 %
    Core efficiency ratio(1)   73.77       65.33       82.79       67.48       65.55  
    Common equity tier 1 to risk-weighted assets(3)   13.47       13.57       13.32       12.46       12.15  
    Tier 1 capital to risk-weighted assets(3)   13.66       13.77       13.52       12.64       12.33  
    Total capital to risk-weighted assets(3)   15.68       15.81       16.44       15.45       15.16  
    Tier 1 leverage ratio(3)   11.70       11.47       11.08       10.93       10.70  
                                           

    __________________________

    (1) PTPP earnings, PTPP ROAA, tangible book value per common share, ROATCE, and core efficiency ratio are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
    (2) Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.
    (3) June 30, 2025, ratios are estimated and calculated at the Company level, which is subject to the capital adequacy requirements of the Federal Reserve Board.
       
    Origin Bancorp, Inc.
    Selected Year-To-Date Financial Data
    (Unaudited)
     
      Six Months Ended June 30, 2025
    (Dollars in thousands, except per share amounts)   2025       2024  
           
    Income statement and share amounts  
    Net interest income $ 160,595     $ 147,213  
    Provision for credit losses   6,306       8,243  
    Noninterest income   16,970       39,720  
    Noninterest expense   124,051       123,095  
    Income before income tax expense   47,208       55,595  
    Income tax expense   10,150       11,974  
    Net income $ 37,058     $ 43,621  
    PTPP earnings(1) $ 53,514     $ 63,838  
    Basic earnings per common share   1.19       1.41  
    Diluted earnings per common share   1.18       1.40  
    Dividends declared per common share   0.30       0.30  
    Weighted average common shares outstanding – basic   31,199,151       31,011,930  
    Weighted average common shares outstanding – diluted   31,375,804       31,110,747  
           
    Performance metrics      
    Yield on LHFI   6.33 %     6.58 %
    Yield on interest-earning assets   5.83       6.01  
    Cost of interest-bearing deposits   3.21       3.90  
    Cost of total deposits   2.49       3.04  
    NIM-FTE   3.52       3.18  
    ROAA (annualized)   0.77       0.88  
    PTPP ROAA (annualized)(1)   1.11       1.29  
    ROAE (annualized)   6.34       8.17  
    ROATCE (annualized)(1)   7.38       9.73  
    Efficiency ratio(2)   69.86       65.85  
    Core efficiency ratio(1)   69.29       65.40  
                   

    ____________________________

    (1) PTPP earnings, PTPP ROAA, ROATCE, and core efficiency ratio are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
    (2) Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.
       
    Origin Bancorp, Inc.
    Consolidated Quarterly Statements of Income
    (Unaudited)
     
      Three Months Ended
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
                       
    Interest and dividend income (Dollars in thousands, except per share amounts)
    Interest and fees on loans $ 121,239     $ 117,075     $ 127,021     $ 133,195   $ 129,879
    Investment securities-taxable   7,692       8,076       6,651       6,536     6,606
    Investment securities-nontaxable   1,425       968       964       905     893
    Interest and dividend income on assets held in other financial institutions   4,281       6,424       5,197       3,621     4,416
    Total interest and dividend income   134,637       132,543       139,833       144,257     141,794
    Interest expense                  
    Interest-bearing deposits   50,152       51,779       59,511       67,051     65,469
    FHLB advances and other borrowings   1,216       96       88       482     514
    Subordinated indebtedness   1,133       2,209       1,885       1,920     1,921
    Total interest expense   52,501       54,084       61,484       69,453     67,904
    Net interest income   82,136       78,459       78,349       74,804     73,890
    Provision (benefit) for credit losses   2,862       3,444       (5,398 )     4,603     5,231
    Net interest income after provision (benefit) for credit losses   79,274       75,015       83,747       70,201     68,659
    Noninterest income                  
    Insurance commission and fee income   6,661       7,927       5,441       6,928     6,665
    Service charges and fees   4,927       4,716       4,801       4,664     4,862
    Other fee income   2,809       2,301       2,152       2,114     2,404
    Mortgage banking revenue   1,369       915       1,151       1,153     1,878
    Swap fee income   1,435       533       116       106     44
    (Loss) gain on sales of securities, net   (14,448 )     —       (14,617 )     221     —
    Limited partnership investment (loss) income   (1,909 )     (1,692 )     (62 )     375     68
    Change in fair value of equity investments   —       —       —       —     5,188
    Other income   524       902       688       428     1,356
    Total noninterest income (loss)   1,368       15,602       (330 )     15,989     22,465
    Noninterest expense                  
    Salaries and employee benefits   38,280       37,731       36,405       38,491     38,109
    Occupancy and equipment, net   7,187       8,544       7,913       6,298     7,009
    Data processing   3,432       2,957       3,414       3,470     3,468
    Office and operations   3,337       2,972       2,883       2,984     3,072
    Intangible asset amortization   1,768       1,761       1,800       1,905     2,137
    Regulatory assessments   1,345       1,392       1,535       1,791     1,842
    Advertising and marketing   1,158       1,133       1,929       1,449     1,328
    Professional services   1,285       1,250       2,064       2,012     1,303
    Electronic banking   1,359       1,354       1,377       1,308     1,238
    Loan-related expenses   669       599       431       751     1,077
    Franchise tax expense   688       675       884       721     815
    Other expenses   1,475       1,700       4,787       1,341     2,990
    Total noninterest expense   61,983       62,068       65,422       62,521     64,388
    Income before income tax expense   18,659       28,549       17,995       23,669     26,736
    Income tax expense   4,012       6,138       3,725       5,068     5,747
    Net income $ 14,647     $ 22,411     $ 14,270     $ 18,601   $ 20,989
     
    Origin Bancorp, Inc.
    Consolidated Balance Sheets
    (Unaudited)
     
    (Dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    Assets                  
    Cash and due from banks $ 113,918     $ 112,888     $ 132,991     $ 159,337     $ 137,615  
    Interest-bearing deposits in banks   220,193       373,314       337,258       161,854       150,435  
    Total cash and cash equivalents   334,111       486,202       470,249       321,191       288,050  
    Securities:                  
    AFS   1,126,721       1,161,368       1,102,528       1,160,965       1,160,048  
    Held to maturity, net of allowance for credit losses   11,093       11,094       11,095       11,096       11,616  
    Securities carried at fair value through income   6,218       6,512       6,512       6,533       6,499  
    Total securities   1,144,032       1,178,974       1,120,135       1,178,594       1,178,163  
    Non-marketable equity securities held in other financial institutions   75,181       71,754       71,643       67,068       64,010  
    Loans held for sale   8,878       10,191       10,494       7,631       18,291  
    LHFI   7,684,446       7,585,526       7,573,713       7,956,790       7,959,171  
    Less: ALCL   92,426       92,011       91,060       95,989       100,865  
    LHFI, net of ALCL   7,592,020       7,493,515       7,482,653       7,860,801       7,858,306  
    Premises and equipment, net   122,618       123,847       126,620       126,751       121,562  
    Cash surrender value of bank-owned life insurance   41,265       41,021       40,840       40,602       40,365  
    Goodwill   128,679       128,679       128,679       128,679       128,679  
    Other intangible assets, net   36,444       38,212       37,473       39,272       41,177  
    Accrued interest receivable and other assets   194,930       177,977       189,916       195,397       208,579  
    Total assets $ 9,678,158     $ 9,750,372     $ 9,678,702     $ 9,965,986     $ 9,947,182  
    Liabilities and Stockholders’ Equity                  
    Noninterest-bearing deposits $ 1,841,684     $ 1,888,808     $ 1,900,651     $ 1,893,767     $ 1,866,622  
    Interest-bearing deposits excluding brokered interest-bearing deposits, if any   5,450,710       5,536,636       5,301,243       5,137,940       4,984,817  
    Time deposits   805,642       862,968       941,000       1,023,252       1,022,589  
    Brokered deposits   25,000       50,000       80,226       431,609       636,814  
    Total deposits   8,123,036       8,338,412       8,223,120       8,486,568       8,510,842  
    FHLB advances and other borrowings   127,843       12,488       12,460       30,446       40,737  
    Subordinated indebtedness   89,657       89,599       159,943       159,861       159,779  
    Accrued expenses and other liabilities   131,853       129,696       137,934       143,438       139,930  
    Total liabilities   8,472,389       8,570,195       8,533,457       8,820,313       8,851,288  
    Stockholders’ equity:                  
    Common stock   156,124       156,220       155,988       155,837       155,543  
    Additional paid-in capital   537,819       538,790       537,366       535,662       532,950  
    Retained earnings   585,387       575,578       557,920       548,419       534,585  
    Accumulated other comprehensive loss   (73,561 )     (90,411 )     (106,029 )     (94,245 )     (127,184 )
    Total stockholders’ equity   1,205,769       1,180,177       1,145,245       1,145,673       1,095,894  
    Total liabilities and stockholders’ equity $ 9,678,158     $ 9,750,372     $ 9,678,702     $ 9,965,986     $ 9,947,182  
     
    Origin Bancorp, Inc.
    Loan Data
    (Unaudited)
     
      At and For the Three Months Ended
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
                       
    LHFI (Dollars in thousands)
    Owner occupied commercial real estate $ 972,788     $ 937,985     $ 975,947     $ 991,671     $ 959,850  
    Non-owner occupied commercial real estate   1,455,771       1,445,864       1,501,484       1,533,093       1,563,152  
    Construction/land/land development   653,748       798,609       864,011       991,545       1,017,389  
    Residential real estate – single family   1,465,535       1,465,192       1,432,129       1,414,013       1,421,027  
    Multi-family real estate   529,899       489,765       425,460       434,317       398,202  
    Total real estate loans   5,077,741       5,137,415       5,199,031       5,364,639       5,359,620  
    Commercial and industrial   2,011,178       2,022,085       2,002,634       2,074,037       2,070,947  
    MW LOC   574,748       404,131       349,081       495,188       506,505  
    Consumer   20,779       21,895       22,967       22,926       22,099  
    Total LHFI   7,684,446       7,585,526       7,573,713       7,956,790       7,959,171  
    Less: ALCL   92,426       92,011       91,060       95,989       100,865  
    LHFI, net $ 7,592,020     $ 7,493,515     $ 7,482,653     $ 7,860,801     $ 7,858,306  
                       
    Nonperforming assets(1)                  
    Nonperforming LHFI                  
    Commercial real estate $ 12,814     $ 5,465     $ 4,974     $ 2,776     $ 2,196  
    Construction/land/land development   17,720       17,694       18,505       26,291       26,336  
    Residential real estate(2)   37,996       40,749       36,221       14,313       13,493  
    Commercial and industrial   16,655       17,325       15,120       20,486       33,608  
    Consumer   130       135       182       407       179  
    Total nonperforming LHFI   85,315       81,368       75,002       64,273       75,812  
    Other real estate owned/repossessed assets   1,991       1,990       3,635       6,043       6,827  
    Total nonperforming assets $ 87,306     $ 83,358     $ 78,637     $ 70,316     $ 82,639  
    Classified assets $ 129,628     $ 129,666     $ 122,417     $ 113,529     $ 125,081  
    Past due LHFI(3)   67,626       72,774       42,437       38,838       66,276  
    Past due 30 to 89 days and still accruing   12,495       42,587       18,015       20,170       17,080  
                       
    Allowance for loan credit losses                  
    Balance at beginning of period $ 92,011     $ 91,060     $ 95,989     $ 100,865     $ 98,375  
    Provision (benefit) for loan credit losses   2,715       3,679       (5,489 )     4,644       5,436  
    Loans charged off   3,700       4,848       2,025       11,226       3,706  
    Loan recoveries   1,400       2,120       2,585       1,706       760  
    Net charge-offs (recoveries)   2,300       2,728       (560 )     9,520       2,946  
    Balance at end of period $ 92,426     $ 92,011     $ 91,060     $ 95,989     $ 100,865  
                       
    Credit quality ratios                  
    Total nonperforming assets to total assets   0.90 %     0.85 %     0.81 %     0.71 %     0.83 %
    Nonperforming LHFI to LHFI   1.11       1.07       0.99       0.81       0.95  
    Past due LHFI to LHFI   0.88       0.96       0.56       0.49       0.83  
    Past due 30 to 89 days and still accruing to LHFI   0.16       0.56       0.24       0.25       0.21  
    ALCL to nonperforming LHFI   108.33       113.08       121.41       149.35       133.05  
    ALCL to total LHFI   1.20       1.21       1.20       1.21       1.27  
    ALCL to total LHFI, adjusted(4)   1.29       1.28       1.25       1.28       1.34  
    Net charge-offs (recoveries) to total average LHFI (annualized)   0.12       0.15       (0.03 )     0.48       0.15  
     

    ____________________________

    (1) Nonperforming assets consist of nonperforming/nonaccrual loans and property acquired through foreclosures or repossession, as well as bank-owned property not in use and listed for sale, if any.
    (2)  Includes multi-family real estate.
    (3) Past due LHFI are defined as loans 30 days or more past due and includes past due nonperforming loans.
    (4) The ALCL to total LHFI, adjusted is calculated by excluding the ALCL for MW LOC loans from the total LHFI ALCL in the numerator and excluding the MW LOC loans from the LHFI in the denominator. Due to their low-risk profile, MW LOC loans require a disproportionately low allocation of the ALCL.
       
    Origin Bancorp, Inc.
    Average Balances and Yields/Rates
    (Unaudited)
     
      Three Months Ended
      June 30, 2025   March 31, 2025   June 30, 2024
      Average Balance   Yield/Rate   Average Balance   Yield/Rate   Average Balance   Yield/Rate
                           
    Assets (Dollars in thousands)
    Commercial real estate $ 2,407,632   5.78 %   $ 2,448,099   5.82 %   $ 2,497,490   5.91 %
    Construction/land/land development   739,601   6.92       821,754   6.87       1,058,972   6.98  
    Residential real estate(1)   1,955,422   5.62       1,909,922   5.53       1,787,829   5.48  
    Commercial and industrial (“C&I”)   2,068,175   7.30       2,004,034   7.37       2,128,486   7.87  
    MW LOC   480,587   6.86       289,521   7.07       430,885   7.57  
    Consumer   21,851   7.29       22,709   7.45       22,396   8.06  
    LHFI   7,673,268   6.33       7,496,039   6.33       7,926,058   6.58  
    Loans held for sale   11,422   6.92       8,590   6.18       14,702   6.84  
    Loans receivable   7,684,690   6.33       7,504,629   6.33       7,940,760   6.58  
    Investment securities-taxable   980,430   3.15       1,021,904   3.21       1,046,301   2.54  
    Investment securities-nontaxable   175,101   3.26       140,875   2.79       143,232   2.51  
    Non-marketable equity securities held in other financial institutions   77,240   6.63       71,669   2.35       56,270   6.53  
    Interest-earning balances due from banks   276,372   4.36       543,821   4.48       254,627   5.53  
    Total interest-earning assets   9,193,833   5.87       9,282,898   5.79       9,441,190   6.04  
    Noninterest-earning assets   522,090         525,317         567,035    
    Total assets $ 9,715,923       $ 9,808,215       $ 10,008,225    
                           
    Liabilities and Stockholders’ Equity                    
    Liabilities                      
    Interest-bearing liabilities                      
    Savings and interest-bearing transaction accounts $ 5,409,357   3.17 %   $ 5,538,710   3.14 %   $ 5,130,224   3.80 %
    Time deposits   868,703   3.45       972,176   3.69       1,534,679   4.46  
    Total interest-bearing deposits   6,278,060   3.20       6,510,886   3.23       6,664,903   3.95  
    FHLB advances and other borrowings   111,951   4.36       14,148   2.75       41,666   4.96  
    Subordinated indebtedness   89,633   5.07       124,133   7.22       159,973   4.83  
    Total interest-bearing liabilities   6,479,644   3.25       6,649,167   3.30       6,866,542   3.98  
    Noninterest-bearing liabilities                      
    Noninterest-bearing deposits   1,881,301         1,837,365         1,894,141    
    Other liabilities   164,647         154,934         163,273    
    Total liabilities   8,525,592         8,641,466         8,923,956    
    Stockholders’ Equity   1,190,331         1,166,749         1,084,269    
    Total liabilities and stockholders’ equity $ 9,715,923       $ 9,808,215       $ 10,008,225    
    Net interest spread     2.62 %       2.49 %       2.06 %
    NIM     3.58         3.43         3.15  
    NIM-FTE(2)     3.61         3.44         3.17  
     

    ____________________________

    (1) Includes multi-family real estate.
    (2) In order to present pre-tax income and resulting yields on tax-exempt investments comparable to those on taxable investments, a tax-equivalent adjustment has been computed. This adjustment also includes income tax credits received on Qualified School Construction Bonds.
       
    Origin Bancorp, Inc.
    Notable Items
    (Unaudited)
     
      At and For the Three Months Ended
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
      $ Impact   EPS
    Impact(1)    		   $ Impact   EPS
    Impact(1)    		   $ Impact   EPS
    Impact(1)    		   $ Impact   EPS
    Impact(1)    		   $ Impact   EPS
    Impact(1)
                                           
      (Dollars in thousands, except per share amounts)
    Notable interest income items:                                    
    Interest income reversal on relationships impacted by questioned banker activity $ —     $ —     $ —     $ —     $ —     $ —     $ —     $ —     $ (1,206 )   $ (0.03 )
    Notable interest expense items:                                    
    OID amortization – subordinated debenture redemption   —       —       (681 )     (0.02 )     —       —       —       —       —       —  
    Notable provision expense items:                                    
    Provision release (expense) related to questioned banker activity   —       —       —       —       3,212       0.08       —       —       (3,212 )     (0.08 )
    Provision release (expense) on relationships impacted by questioned banker activity   —       —       375       0.01       —       —       —       —       (4,131 )     (0.11 )
    Notable noninterest income items(2):                                
    (Loss) gain on sales of securities, net   (14,448 )     (0.36 )     —       —       (14,617 )     (0.37 )     221       0.01       —       —  
    Gain on sub-debt repurchase   —       —       —       —       —       —       —       —       81       —  
    Positive valuation adjustment on non-marketable equity securities   —       —       —       —       —       —       —       —       5,188       0.13  
    Net (loss) gain on OREO properties(2)   (158 )     —       (212 )     (0.01 )     198       —       —       —       800       0.02  
    BOLI payout   —       —       208       0.01       —       —       —       —       —       —  
    Notable noninterest expense items:                                
    Operating expense related to questioned banker activity   (530 )     (0.01 )     (543 )     (0.01 )     (4,069 )     (0.10 )     (848 )     (0.02 )     (1,452 )     (0.04 )
    Operating expense related to strategic Optimize Origin initiatives   (428 )     (0.01 )     (1,615 )     (0.04 )     (1,121 )     (0.03 )     —       —       —       —  
    Employee Retention Credit   —       —       213       0.01       1,651       0.04       —       —       —       —  
    Total notable items $ (15,564 )     (0.39 )   $ (2,255 )     (0.06 )   $ (14,746 )     (0.37 )   $ (627 )     (0.02 )   $ (3,932 )     (0.10 )
     

    ____________________________

    (1) The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.
    (2) The $158,000 net loss on OREO properties for the quarter ended June 30, 2025, includes an $8,000 insurance settlement recovery that was included in noninterest income on the face of the income statement and $3,000 in repair costs that was included in noninterest expense. The $212,000 net loss on OREO properties for the quarter ended March 31, 2025, includes a $444,000 expected insurance settlement recovery that was included in noninterest income on the face of the income statement, and a $148,000 repair cost that was included in noninterest expense.
       
    Origin Bancorp, Inc.
    Notable Items – Continued
    (Unaudited)
     
      Six Months Ended June 30,
        2025       2024  
      $ Impact   EPS Impact(1)   $ Impact   EPS Impact(1)
                   
      (Dollars in thousands, except per share amounts)
    Notable interest income items:              
    Interest income reversal on relationships impacted by questioned banker activity $ —     $ —     $ (1,206 )   $ (0.03 )
    Notable interest expense items:              
    OID amortization -subordinated debenture redemption   (681 )     (0.02 )     —       —  
    Notable provision expense items:              
    Provision expense related to questioned banker activity   —       —       (3,212 )     (0.08 )
    Provision release (expense) on relationships impacted by questioned banker activity   375       0.01       (4,131 )     (0.10 )
    Notable noninterest income items:              
    MSR gain (impairment)   —       —       410       0.01  
    Loss on sales of securities, net   (14,448 )     (0.36 )     (403 )     (0.01 )
    Gain on sub-debt repurchase   —       —       81       —  
    Positive valuation adjustment on non-marketable equity securities   —       —       5,188       0.13  
    Net (loss) gain on OREO properties(2)   (370 )     (0.01 )     800       0.02  
    BOLI payout   208       0.01       —       —  
    Notable noninterest expense items:              
    Operating expense related to questioned banker activity   (1,073 )     (0.03 )     (1,452 )     (0.04 )
    Operating expense related to strategic Optimize Origin initiatives   (2,043 )     (0.05 )     —       —  
    Employee Retention Credit   213       0.01       —       —  
    Total notable items $ (17,819 )     (0.45 )   $ (3,925 )     (0.10 )
     

    ____________________________

    (1) The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.
    (2) The $370,000 net loss on OREO properties for the six months ended June 30, 2025, includes a $452,000 insurance settlement recovery that was included in noninterest income on the face of the income statement and a $151,000 repair cost that was included in noninterest expense.
       
    Origin Bancorp, Inc.
    Non-GAAP Financial Measures
    (Unaudited)
     
      At and For the Three Months Ended
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
                       
      (Dollars in thousands, except per share amounts)
    Calculation of PTPP earnings:                  
    Net income $ 14,647     $ 22,411     $ 14,270     $ 18,601     $ 20,989  
    Provision (benefit) for credit losses   2,862       3,444       (5,398 )     4,603       5,231  
    Income tax expense   4,012       6,138       3,725       5,068       5,747  
    PTPP earnings (non-GAAP) $ 21,521     $ 31,993     $ 12,597     $ 28,272     $ 31,967  
                       
    Calculation of PTPP ROAA:                  
    PTPP earnings $ 21,521     $ 31,993     $ 12,597     $ 28,272     $ 31,967  
    Divided by number of days in the quarter   91       90       92       92       91  
    Multiplied by the number of days in the year   365       365       366       366       366  
    PTPP earnings, annualized $ 86,320     $ 129,749     $ 50,114     $ 112,473       128,571  
    Divided by total average assets   9,715,923       9,808,215       9,978,543       9,985,836       10,008,225  
    ROAA (annualized) (GAAP)   0.60 %     0.93 %     0.57 %     0.74 %     0.84 %
    PTPP ROAA (annualized) (non-GAAP)   0.89       1.32       0.50       1.13       1.28  
                       
    Calculation of tangible book value per common share:
    Total common stockholders’ equity $ 1,205,769     $ 1,180,177     $ 1,145,245     $ 1,145,673     $ 1,095,894  
    Goodwill   (128,679 )     (128,679 )     (128,679 )     (128,679 )     (128,679 )
    Other intangible assets, net   (36,444 )     (38,212 )     (37,473 )     (39,272 )     (41,177 )
    Tangible common equity   1,040,646       1,013,286       979,093       977,722       926,038  
    Divided by common shares outstanding at the end of the period   31,224,718       31,244,006       31,197,574       31,167,410       31,108,667  
    Book value per common share (GAAP) $ 38.62     $ 37.77     $ 36.71     $ 36.76     $ 35.23  
    Tangible book value per common share (non-GAAP)   33.33       32.43       31.38       31.37       29.77  
                       
    Calculation of ROATCE:                
    Net income $ 14,647     $ 22,411     $ 14,270     $ 18,601     $ 20,989  
    Divided by number of days in the quarter   91       90       92       92       91  
    Multiplied by number of days in the year   365       365       366       366       366  
    Annualized net income $ 58,749     $ 90,889     $ 56,770     $ 74,000     $ 84,417  
                       
    Total average common stockholders’ equity $ 1,190,331     $ 1,166,749     $ 1,149,228     $ 1,125,697     $ 1,084,269  
    Average goodwill   (128,679 )     (128,679 )     (128,679 )     (128,679 )     (128,679 )
    Average other intangible assets, net   (37,459 )     (38,254 )     (38,646 )     (40,487 )     (42,563 )
    Average tangible common equity   1,024,193       999,816       981,903       956,531       913,027  
                       
    ROAE (annualized) (GAAP)   4.94 %     7.79 %     4.94 %     6.57 %     7.79 %
    ROATCE (annualized) (non-GAAP)   5.74       9.09       5.78       7.74       9.25  
                       
    Calculation of core efficiency ratio:                  
    Total noninterest expense $ 61,983     $ 62,068     $ 65,422     $ 62,521     $ 64,388  
    Insurance and mortgage noninterest expense   (8,460 )     (8,230 )     (8,497 )     (8,448 )     (8,402 )
    Adjusted total noninterest expense   53,523       53,838       56,925       54,073       55,986  
                       
    Net interest income $ 82,136     $ 78,459     $ 78,349     $ 74,804     $ 73,890  
    Insurance and mortgage net interest income   (2,924 )     (2,815 )     (2,666 )     (2,578 )     (2,407 )
    Total noninterest income   1,368       15,602       (330 )     15,989       22,465  
    Insurance and mortgage noninterest income   (8,030 )     (8,842 )     (6,592 )     (8,081 )     (8,543 )
    Adjusted total revenue   72,550       82,404       68,761       80,134       85,405  
                       
    Efficiency ratio (GAAP)   74.23 %     65.99 %     83.85 %     68.86 %     66.82 %
    Core efficiency ratio (non-GAAP)   73.77       65.33       82.79       67.48       65.55  
     
    Origin Bancorp, Inc.
    Non-GAAP Financial Measures – Continued
    (Unaudited)
     
      Six Months Ended June 30,
        2025       2024  
           
      (Dollars in thousands, except per share amounts)
    Calculation of PTPP earnings:      
    Net income $ 37,058     $ 43,621  
    Provision for credit losses   6,306       8,243  
    Income tax expense   10,150       11,974  
    PTPP earnings (non-GAAP) $ 53,514     $ 63,838  
           
    Calculation of PTPP ROAA:      
    PTPP Earnings $ 53,514     $ 63,838  
    Divided by the year-to-date number of days   181       182  
    Multiplied by number of days in the year   365       366  
    Annualized PTPP Earnings $ 107,915     $ 128,378  
           
    Divided by total average assets $ 9,761,814     $ 9,934,730  
    ROAA (annualized) (GAAP)   0.77 %     0.88 %
    PTPP ROAA (annualized) (non-GAAP)   1.11       1.29  
           
    Calculation of ROATCE:    
    Net income $ 37,058     $ 43,621  
    Divided by the year-to-date number of days   181       182  
    Multiplied by number of days in the year   365       366  
    Annualized net income $ 74,730     $ 87,721  
           
    Total average common stockholders’ equity $ 1,178,605     $ 1,073,487  
    Average goodwill   (128,679 )     (128,679 )
    Average other intangible assets, net   (37,854 )     (43,631 )
    Average tangible common equity   1,012,072       901,177  
           
    ROAE (annualized) (GAAP)   6.34 %     8.17 %
    ROATCE (annualized) (non-GAAP)   7.38       9.73  
           
    Calculation of core efficiency ratio:      
    Total noninterest expense $ 124,051     $ 123,095  
    Insurance and mortgage noninterest expense   (16,690 )     (16,447 )
    Adjusted total noninterest expense   107,361       106,648  
           
    Net interest income $ 160,595     $ 147,213  
    Insurance and mortgage net interest income   (5,739 )     (5,202 )
    Total noninterest income   16,970       39,720  
    Insurance and mortgage noninterest income   (16,872 )     (18,666 )
    Adjusted total revenue   154,954       163,065  
           
    Efficiency ratio (non-GAAP)   69.86 %     65.85 %
    Core efficiency ratio (non-GAAP)   69.29       65.40  
                   

    The MIL Network –

  • MIL-OSI: Univest Financial Corporation Reports Second Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    SOUDERTON, Pa., July 23, 2025 (GLOBE NEWSWIRE) — Univest Financial Corporation (“Univest” or the “Corporation”) (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. (the “Bank”) and its insurance, investments and equipment financing subsidiaries, announced net income for the quarter ended June 30, 2025 of $20.0 million, or $0.69 diluted earnings per share, compared to net income of $18.1 million, or $0.62 diluted earnings per share, for the quarter ended June 30, 2024.

    Loans
    Gross loans and leases decreased $31.9 million, or 0.5% (2.0% annualized), from March 31, 2025 and $25.4 million, or 0.4% (0.8% annualized), from December 31, 2024 primarily due to decreases in commercial real estate, residential mortgage loans and lease financings, partially offset by increases in commercial, construction and home equity loans. Gross loans and leases increased $116.3 million, or 1.7%, from June 30, 2024, primarily due to increases in commercial real estate, residential mortgage and home equity loans, partially offset by decreases in commercial and construction loans and lease financings.

    Deposits and Liquidity
    Total deposits decreased $75.8 million, or 1.1% (4.4% annualized), from March 31, 2025, primarily due to seasonal decreases in public funds deposits and decreases in consumer and brokered deposits, partially offset by an increase in commercial deposits. Excluding decreases of $105.9 million in seasonal public funds deposits and $47.5 million in brokered deposits, deposits increased by $77.5 million during the quarter. Total deposits decreased $176.6 million, or 2.6% (5.2% annualized), from December 31, 2024, due to decreases in consumer and public funds deposits, partially offset by increases in commercial and brokered deposits. Total deposits increased $87.3 million, or 1.3%, from June 30, 2024, due to increases in commercial and public funds deposits, partially offset by decreases in consumer and brokered deposits.

    Noninterest-bearing deposits totaled $1.5 billion and represented 22.2% of total deposits at June 30, 2025, compared to $1.4 billion representing 21.5% of total deposits at March 31, 2025. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.5 billion at June 30, 2025 and March 31, 2025. This represented 23.0% of total deposits at June 30, 2025, compared to 21.9% at March 31, 2025.

    As of June 30, 2025, the Corporation and its subsidiaries reported cash and cash equivalents totaling $160.4 million and had committed borrowing capacity of $3.6 billion, of which $2.3 billion was available. The Corporation and its subsidiaries also maintained uncommitted funding sources from correspondent banks of $469.0 million at June 30, 2025. Future availability under these uncommitted funding sources is subject to the prerogatives of the granting banks and may be withdrawn at will.

    Net Interest Income and Margin
    Net interest income of $59.5 million for the second quarter of 2025 increased $8.5 million, or 16.7%, from the second quarter of 2024 and $2.8 million, or 4.9%, from the first quarter of 2025. The increase in net interest income for the second quarter of 2025 compared to the second quarter of 2024 was driven by higher average balances of loans and higher yields on interest earning assets, as well as a reduction in our overall cost of funds. The increase in net interest income for the second quarter of 2025 compared to the first quarter of 2025 was primarily driven by higher yields on interest earning assets and lower average balances of interest-bearing liabilities and related costs.

    Net interest margin, on a tax-equivalent basis, was 3.20% for the second quarter of 2025, compared to 3.09% for the first quarter of 2025 and 2.84% for the second quarter of 2024. Excess liquidity reduced net interest margin by approximately four basis points for the quarter ended June 30, 2025 compared to approximately three basis points for the quarter ended March 31, 2025 and approximately two basis points for the quarter ended June 30, 2024. Excluding the impact of excess liquidity, the net interest margin, on a tax-equivalent basis, would have been 3.24% for the quarter ended June 30, 2025 compared to 3.12% for the first quarter of 2025 and 2.86% for the second quarter of 2024.

    Noninterest Income
    Noninterest income for the quarter ended June 30, 2025 was $21.5 million, an increase of $521 thousand, or 2.5%, from the comparable period in the prior year.

    Other income increased $491 thousand, or 65.9%, for the quarter ended June 30, 2025 compared to the comparable period in the prior year, primarily due to an increase of $299 thousand in gains on sale of Small Business Administration loans.

    Service charges on deposit accounts increased $276 thousand, or 13.9%, for the quarter ended June 30, 2025 compared to the comparable period in the prior year, primarily due to an increase in treasury management income.

    Investment advisory commission and fee income increased $222 thousand, or 4.2%, for the quarter ended June 30, 2025 compared to the comparable period in the prior year, primarily due to new customer relationships and appreciation of assets under management and supervision.

    Net gain on mortgage banking activities decreased $729 thousand, or 42.6%, for the quarter ended June 30, 2025 compared to the comparable period in the prior year, primarily due to decreased salable volume.

    Noninterest Expense
    Noninterest expense for the quarter ended June 30, 2025 was $50.3 million, an increase of $1.6 million, or 3.3%, from the comparable period in the prior year.

    Salaries, benefits and commissions increased $1.3 million, or 4.5%, for the quarter ended June 30, 2025 compared to the comparable period in the prior year, due to increases in salary and medical claims expense. Additionally, variable compensation increased due to increased profitability.

    Tax Provision
    The effective income tax rate was 20.1% for the quarter ended June 30, 2025, compared to an effective tax rate of 19.9% for the quarter ended June 30, 2024. The effective tax rates for the three months ended June 30, 2025 and 2024 were favorably impacted by proceeds of BOLI death benefits received in both periods. Excluding the BOLI death benefits, the effective tax rate was 20.2% for the three months ended June 30, 2025 compared to 20.0% for the three months ended June 30, 2024.

    Asset Quality and Provision for Credit Losses
    Nonperforming assets totaled $50.6 million at June 30, 2025, $34.0 million at March 31, 2025, and $36.6 million at June 30, 2024. During the quarter, a $23.7 million commercial loan relationship was placed on nonaccrual status due to, among other things, suspected fraud. Subsequent to the relationship being placed on nonaccrual status, a $7.3 million charge-off was recognized during the quarter. The remaining $16.4 million carrying value is supported by the appraised value of real estate collateral.

    Net loan and lease charge-offs were $7.8 million for the three months ended June 30, 2025 compared to $1.7 million and $809 thousand for the three months ended March 31, 2025 and June 30, 2024, respectively. The increase in charge-offs for the quarter compared to the prior periods was due to the previously discussed $7.3 million charge-off associated with a nonaccrual commercial loan relationship.

    The provision for credit losses was $5.7 million for the three months ended June 30, 2025 compared to $2.3 million and $707 thousand for the three months ended March 31, 2025 and June 30, 2024, respectively. The allowance for credit losses on loans and leases as a percentage of loans and leases held for investment was 1.28% at June 30, 2025, March 31, 2025, and June 30, 2024.

    Dividend and Share Repurchases
    On July 23, 2025, Univest declared a quarterly cash dividend of $0.22 per share to be paid on August 20, 2025 to shareholders of record as of August 6, 2025. During the quarter ended June 30, 2025, the Corporation repurchased 172,757 shares of common stock at an average price of $28.45 per share. Including brokerage fees and excise tax, the average price per share was $28.77. As of June 30, 2025, 1,005,637 shares are available for repurchase under the Share Repurchase Plan.

    Conference Call
    Univest will host a conference call to discuss second quarter 2025 results on Thursday, July 24, 2025 at 9:00 a.m. EDT. Participants may preregister at https://www.netroadshow.com/events/login?show=d55d5140&confId=85192. The general public can access the call by dialing 1-833-470-1428; using Access Code 747843. A replay of the conference call will be available through July 31, 2025 by dialing 1-866-813-9403; using Access Code 563521.

    About Univest Financial Corporation
    Univest Financial Corporation (UVSP), including its wholly-owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately $7.9 billion in assets and $5.4 billion in assets under management and supervision through its Wealth Management lines of business at June 30, 2025. Headquartered in Souderton, Pa. and founded in 1876, the Corporation and its subsidiaries provide a full range of financial solutions for individuals, businesses, municipalities and nonprofit organizations primarily in the Mid-Atlantic Region. Univest delivers these services through a network of more than 50 offices and online at www.univest.net.

    This press release and the reports Univest files with the Securities and Exchange Commission often contain “forward-looking statements” relating to trends or factors affecting the financial services industry and, specifically, the financial condition and results of operations, business, prospects and strategies of Univest. These forward-looking statements involve certain risks and uncertainties in that there are a number of important factors that could cause Univest’s future financial condition, results of operations, business, prospects or strategies to differ materially from those expressed or implied by the forward-looking statements. These factors include, but are not limited to: (1) competition and demand for financial services in our market area; (2) inflation and/or changes in interest rates, which may adversely impact our margins and yields, reduce the fair value of our financial instruments, reduce our loan originations and/or lead to higher operating costs and higher costs we pay to retain and attract deposits; (3) changes in asset quality, prepayment speeds, loan sale volumes, charge-offs and/or credit loss provisions; (4) fluctuations in real estate values and both residential and commercial real estate market conditions; (5) changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; (6) our ability to access cost-effective funding; (7) changes in economic conditions nationally and in our market, including potential recessionary conditions and the levels of unemployment in our market area; (8) changes in the economic assumptions or methodology used to calculate our allowance for credit losses; (9) legislative, regulatory, accounting or tax changes; (10) monetary and fiscal policies of the U.S. government, including the policies of the Board of Governors of the Federal Reserve System; (11) the imposition of tariffs or other domestic or international governmental policies and retaliatory responses; (12) the failure to maintain current technologies and to successfully implement future information technology enhancements; (13) technological issues that may adversely affect our operations or those of our customers; (14) a failure or breach in our operational or security systems or infrastructure, including cyberattacks; (15) changes in the securities markets; (16) the current or anticipated impact of military conflict, terrorism or other geopolitical events; (17) our ability to enter into new markets successfully and capitalize on growth opportunities; (18) changes in investor sentiment or consumer spending or savings behavior; and/or (19) risk factors mentioned in the reports and registration statements Univest files with the Securities and Exchange Commission.

    (UVSP – ER)

     
    Univest Financial Corporation
    Consolidated Selected Financial Data (Unaudited)
    June 30, 2025
    (Dollars in thousands)                                    
                                         
    Balance Sheet (Period End)   06/30/25   03/31/25   12/31/24   09/30/24   06/30/24                
    ASSETS                                    
    Cash and due from banks   $ 76,624     $ 73,319     $ 75,998     $ 78,346     $ 66,808                  
    Interest-earning deposits with other banks     83,741       95,815       252,846       426,354       124,103                  
    Cash and cash equivalents     160,365       169,134       328,844       504,700       190,911                  
    Investment securities held-to-maturity     128,455       130,889       134,111       137,681       140,112                  
    Investment securities available for sale, net of allowance for credit losses     366,421       364,503       357,361       354,100       342,776                  
    Investments in equity securities     1,801       1,667       2,506       2,406       2,995                  
    Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost     36,482       35,732       38,980       40,235       37,438                  
    Loans held for sale     17,774       13,150       16,653       17,131       28,176                  
    Loans and leases held for investment     6,801,185       6,833,037       6,826,583       6,730,734       6,684,837                  
    Less: Allowance for credit losses, loans and leases     (86,989 )     (87,790 )     (87,091 )     (86,041 )     (85,745 )                
    Net loans and leases held for investment     6,714,196       6,745,247       6,739,492       6,644,693       6,599,092                  
    Premises and equipment, net     47,140       47,175       46,671       47,411       48,174                  
    Operating lease right-of-use assets     27,278       27,182       28,531       29,260       29,985                  
    Goodwill     175,510       175,510       175,510       175,510       175,510                  
    Other intangibles, net of accumulated amortization     7,967       8,061       8,309       7,158       7,701                  
    Bank owned life insurance     140,086       139,482       139,351       138,744       137,823                  
    Accrued interest and other assets     115,581       117,435       112,098       106,708       114,753                  
    Total assets   $ 7,939,056     $ 7,975,167     $ 8,128,417     $ 8,205,737     $ 7,855,446                  
                                         
    LIABILITIES                                    
    Noninterest-bearing deposits   $ 1,461,189     $ 1,433,995     $ 1,414,635     $ 1,323,953     $ 1,397,308                  
    Interest-bearing deposits:     5,121,471       5,224,503       5,344,624       5,530,195       5,098,014                  
    Total deposits     6,582,660       6,658,498       6,759,259       6,854,148       6,495,322                  
    Short-term borrowings     6,271       4,031       11,181       8,256       11,781                  
    Long-term debt     200,000       175,000       225,000       225,000       250,000                  
    Subordinated notes     149,511       149,386       149,261       149,136       149,011                  
    Operating lease liabilities     30,106       30,062       31,485       32,246       33,015                  
    Accrued expenses and other liabilities     53,775       54,718       64,930       59,880       62,180                  
    Total liabilities     7,022,323       7,071,695       7,241,116       7,328,666       7,001,309                  
                                         
    SHAREHOLDERS’ EQUITY                                    
    Common stock, $5 par value: 48,000,000 shares authorized and 31,556,799 shares issued     157,784       157,784       157,784       157,784       157,784                  
    Additional paid-in capital     301,640       300,634       302,829       301,262       300,166                  
    Retained earnings     555,403       541,776       525,780       512,938       500,482                  
    Accumulated other comprehensive loss, net of tax benefit     (34,969 )     (37,922 )     (43,992 )     (41,623 )     (54,124 )                
    Treasury stock, at cost     (63,125 )     (58,800 )     (55,100 )     (53,290 )     (50,171 )                
    Total shareholders’ equity     916,733       903,472       887,301       877,071       854,137                  
    Total liabilities and shareholders’ equity   $ 7,939,056     $ 7,975,167     $ 8,128,417     $ 8,205,737     $ 7,855,446                  
                                         
                                         
        For the three months ended,   For the six months ended,
    Balance Sheet (Average)   06/30/25   03/31/25   12/31/24   09/30/24   06/30/24   06/30/25   06/30/24
    Assets     7,979,475     $ 7,981,043     $ 8,163,347     $ 8,005,265     $ 7,721,540     $ 7,980,254     $ 7,709,058  
    Investment securities, net of allowance for credit losses     497,214       500,078       500,748       493,334       493,140       498,638       497,061  
    Loans and leases, gross     6,846,938       6,856,503       6,758,649       6,730,791       6,640,536       6,851,694       6,608,950  
    Deposits     6,633,250       6,617,653       6,804,483       6,641,324       6,353,752       6,625,494       6,328,804  
    Shareholders’ equity     908,536       896,811       880,237       864,406       844,572       902,706       843,559  
                                 
    Univest Financial Corporation
    Consolidated Summary of Loans by Type and Asset Quality Data (Unaudited)
    June 30, 2025
    (Dollars in thousands)                                    
                                         
    Summary of Major Loan and Lease Categories (Period End)   06/30/25   03/31/25   12/31/24   09/30/24   06/30/24                
    Commercial, financial and agricultural   $ 1,052,246     $ 1,034,361     $ 1,037,835     $ 1,044,043     $ 1,055,332                  
    Real estate-commercial     3,485,615       3,546,402       3,530,451       3,442,083       3,373,889                  
    Real estate-construction     302,424       281,785       274,483       285,616       313,229                  
    Real estate-residential secured for business purpose     535,210       536,082       536,095       530,674       532,628                  
    Real estate-residential secured for personal purpose     984,166       992,767       994,972       969,562       952,665                  
    Real estate-home equity secured for personal purpose     195,014       189,119       186,836       182,901       179,150                  
    Loans to individuals     14,069       16,930       21,250       26,794       26,430                  
    Lease financings     232,441       235,591       244,661       249,061       251,514                  
    Total loans and leases held for investment, net of deferred income     6,801,185       6,833,037       6,826,583       6,730,734       6,684,837                  
    Less: Allowance for credit losses, loans and leases     (86,989 )     (87,790 )     (87,091 )     (86,041 )     (85,745 )                
    Net loans and leases held for investment   $ 6,714,196     $ 6,745,247     $ 6,739,492     $ 6,644,693     $ 6,599,092          
                                 
                                 
    Asset Quality Data (Period End)   06/30/25   03/31/25   12/31/24   09/30/24   06/30/24        
    Nonaccrual loans and leases, including nonaccrual loans held for sale   $ 27,909     $ 11,126     $ 12,667     $ 15,319     $ 16,200          
    Accruing loans and leases 90 days or more past due     125       322       321       310       205          
    Total nonperforming loans and leases     28,034       11,448       12,988       15,629       16,405          
    Other real estate owned     22,471       22,433       20,141       20,915       20,007          
    Repossessed assets     80       79       76       79       149          
    Total nonperforming assets   $ 50,585     $ 33,960     $ 33,205     $ 36,623     $ 36,561          
    Nonaccrual loans and leases / Loans and leases held for investment     0.41 %     0.16 %     0.19 %     0.23 %     0.24 %        
    Nonperforming loans and leases / Loans and leases held for investment     0.41 %     0.17 %     0.19 %     0.23 %     0.25 %        
    Nonperforming assets / Total assets     0.64 %     0.43 %     0.41 %     0.45 %     0.47 %        
                                 
    Allowance for credit losses, loans and leases   $ 86,989     $ 87,790     $ 87,091     $ 86,041     $ 85,745          
    Allowance for credit losses, loans and leases / Loans and leases held for investment     1.28 %     1.28 %     1.28 %     1.28 %     1.28 %        
    Allowance for credit losses, loans and leases / Nonaccrual loans and leases     311.69 %     789.05 %     687.54 %     561.66 %     529.29 %        
    Allowance for credit losses, loans and leases / Nonperforming loans and leases     310.30 %     766.86 %     670.55 %     550.52 %     522.68 %        
                                 
                                 
        For the three months ended,   For the six months ended,
        06/30/25   03/31/25   12/31/24   09/30/24   06/30/24   06/30/25   06/30/24
    Net loan and lease charge-offs   $ 7,807     $ 1,686     $ 767     $ 820     $ 809     $ 9,493     $ 2,215  
    Net loan and lease charge-offs (annualized)/Average loans and leases     0.46 %     0.10 %     0.05 %     0.05 %     0.05 %     0.28 %     0.07 %
                                 
    Univest Financial Corporation  
    Consolidated Selected Financial Data (Unaudited)  
    June 30, 2025  
    (Dollars in thousands, except per share data)                              
        For the three months ended,   For the six months ended,  
    For the period:   06/30/25   03/31/25   12/31/24   09/30/24   06/30/24   06/30/25   06/30/24  
    Interest income   $ 105,706   $ 103,416   $ 107,476   $ 106,438   $ 99,832   $ 209,122   $ 198,441  
    Interest expense     46,165     46,635     52,004     53,234     48,805     92,800     95,947  
    Net interest income     59,541     56,781     55,472     53,204     51,027     116,322     102,494  
    Provision for credit losses     5,694     2,311     2,380     1,414     707     8,005     2,139  
    Net interest income after provision for credit losses     53,847     54,470     53,092     51,790     50,320     108,317     100,355  
    Noninterest income:                              
    Trust fee income     2,146     2,161     2,265     2,110     2,008     4,307     4,116  
    Service charges on deposit accounts     2,258     2,194     2,192     2,037     1,982     4,452     3,853  
    Investment advisory commission and fee income     5,460     5,613     5,457     5,319     5,238     11,073     10,432  
    Insurance commission and fee income     5,261     6,889     4,743     5,238     5,167     12,150     12,368  
    Other service fee income     3,147     2,707     3,473     1,815     3,044     5,854     9,459  
    Bank owned life insurance income     1,012     1,959     1,012     921     1,086     2,971     1,928  
    Net gain on sales of investment securities     –     –     –     18     –     –     –  
    Net gain on mortgage banking activities     981     647     1,320     1,296     1,710     1,628     2,649  
    Other income     1,236     245     868     1,396     745     1,481     1,770  
    Total noninterest income     21,501     22,415     21,330     20,150     20,980     43,916     46,575  
    Noninterest expense:                              
    Salaries, benefits and commissions     31,536     30,826     31,518     30,702     30,187     62,362     61,525  
    Net occupancy     2,739     2,853     2,751     2,723     2,679     5,592     5,551  
    Equipment     1,043     1,122     1,147     1,107     1,088     2,165     2,199  
    Data processing     4,408     4,364     4,146     4,154     4,161     8,772     8,656  
    Professional fees     1,597     1,797     1,669     1,579     1,466     3,394     3,154  
    Marketing and advertising     498     353     552     490     715     851     1,131  
    Deposit insurance premiums     1,074     1,151     1,102     1,097     1,098     2,225     2,233  
    Intangible expenses     131     130     155     164     188     261     375  
    Other expense     7,306     6,732     7,618     6,536     7,126     14,038     13,958  
    Total noninterest expense     50,332     49,328     50,658     48,552     48,708     99,660     98,782  
    Income before taxes     25,016     27,557     23,764     23,388     22,592     52,573     48,148  
    Income tax expense     5,038     5,162     4,823     4,810     4,485     10,200     9,736  
    Net income   $ 19,978   $ 22,395   $ 18,941   $ 18,578   $ 18,107   $ 42,373   $ 38,412  
    Net income per share:                              
    Basic   $ 0.69   $ 0.77   $ 0.65   $ 0.64   $ 0.62   $ 1.46   $ 1.31  
    Diluted   $ 0.69   $ 0.77   $ 0.65   $ 0.63   $ 0.62   $ 1.45   $ 1.30  
    Dividends declared per share   $ 0.22   $ 0.21   $ 0.21   $ 0.21   $ 0.21   $ 0.43   $ 0.42  
    Weighted average shares outstanding     28,859,348     29,000,567     29,070,039     29,132,948     29,246,977     28,929,123     29,330,488  
    Period end shares outstanding     28,810,805     28,962,648     29,045,877     29,081,108     29,190,640     28,810,805     29,190,640  
     
    Univest Financial Corporation
    Consolidated Selected Financial Data (Unaudited)
    June 30, 2025
                                 
                                 
                                 
        For the three months ended,   For the six months ended,
    Profitability Ratios (annualized)   06/30/25   03/31/25   12/31/24   09/30/24   06/30/24   06/30/25   06/30/24
                                 
    Return on average assets     1.00 %     1.14 %     0.92 %     0.92 %     0.94 %     1.07 %     1.00 %
    Return on average shareholders’ equity     8.82 %     10.13 %     8.56 %     8.55 %     8.62 %     9.47 %     9.16 %
    Return on average tangible common equity (1)(3)     11.02 %     12.69 %     10.79 %     10.84 %     11.01 %     11.84 %     11.69 %
    Net interest margin (FTE)     3.20 %     3.09 %     2.88 %     2.82 %     2.84 %     3.14 %     2.86 %
    Efficiency ratio (2)     61.6 %     61.6 %     65.5 %     65.7 %     67.1 %     61.6 %     65.8 %
                                 
    Capitalization Ratios                            
                                 
    Dividends declared to net income     31.8 %     27.2 %     32.2 %     33.0 %     33.9 %     29.4 %     32.1 %
    Shareholders’ equity to assets (Period End)     11.55 %     11.33 %     10.92 %     10.69 %     10.87 %     11.55 %     10.87 %
    Tangible common equity to tangible assets (1)     9.52 %     9.31 %     8.92 %     8.71 %     8.81 %     9.52 %     8.81 %
    Common equity book value per share   $ 31.82     $ 31.19     $ 30.55     $ 30.16     $ 29.26     $ 31.82     $ 29.26  
    Tangible common equity book value per share (1)   $ 25.66     $ 25.06     $ 24.43     $ 24.05     $ 23.17     $ 25.66     $ 23.17  
                                 
    Regulatory Capital Ratios (Period End)                            
    Tier 1 leverage ratio     9.94 %     9.80 %     9.51 %     9.53 %     9.74 %     9.94 %     9.74 %
    Common equity tier 1 risk-based capital ratio     11.19 %     10.97 %     10.85 %     10.88 %     10.72 %     11.19 %     10.72 %
    Tier 1 risk-based capital ratio     11.19 %     10.97 %     10.85 %     10.88 %     10.72 %     11.19 %     10.72 %
    Total risk-based capital ratio     14.58 %     14.35 %     14.19 %     14.27 %     14.09 %     14.58 %     14.09 %
                                 
    (1) Non-GAAP metric. A reconciliation of this and other non-GAAP to GAAP performance measures is included below.
    (2) Noninterest expense to net interest income before loan loss provision plus noninterest income adjusted for tax equivalent income.
    (3) Net income before amortization of intangibles to average tangible common equity.
       
    Univest Financial Corporation  
    Average Balances and Interest Rates (Unaudited)  
        For the Three Months Ended,      
    Tax Equivalent Basis June 30, 2025   March 31, 2025  
      Average Income/ Average   Average Income/ Average  
    (Dollars in thousands) Balance Expense Rate   Balance Expense Rate  
    Assets:                
    Interest-earning deposits with other banks $ 131,391   $ 1,371 4.19 % $ 119,997   $ 1,360 4.60 %
    Obligations of state and political subdivisions*   –     – –     879     4 1.85  
    Other debt and equity securities   497,214     3,962 3.20     499,199     4,019 3.27  
    Federal Home Loan Bank, Federal Reserve Bank and other stock   36,711     671 7.33     37,561     687 7.42  
    Total interest-earning deposits, investments and other interest-earning assets   665,316     6,004 3.62     657,636     6,070 3.74  
                     
    Commercial, financial, and agricultural loans   1,005,784     17,686 7.05     990,860     17,020 6.97  
    Real estate—commercial and construction loans   3,692,262     54,165 5.88     3,704,232     52,676 5.77  
    Real estate—residential loans   1,727,381     21,772 5.06     1,729,146     21,542 5.05  
    Loans to individuals   15,575     337 8.68     19,438     393 8.20  
    Tax-exempt loans and leases   228,856     2,966 5.20     230,133     2,861 5.04  
    Lease financings   177,080     3,192 7.23     182,694     3,240 7.19  
    Gross loans and leases   6,846,938     100,118 5.86     6,856,503     97,732 5.78  
    Total interest-earning assets   7,512,254     106,122 5.67     7,514,139     103,802 5.60  
    Cash and due from banks   55,335           56,690        
    Allowance for credit losses, loans and leases   (88,127 )         (87,822 )      
    Premises and equipment, net   47,299           46,852        
    Operating lease right-of-use assets   26,948           27,761        
    Other assets   425,766           423,423        
    Total assets $ 7,979,475         $ 7,981,043        
                     
    Liabilities:                
    Interest-bearing checking deposits $ 1,216,909   $ 7,800 2.57 % $ 1,222,012   $ 7,075 2.35 %
    Money market savings   1,754,428     16,945 3.87     1,840,194     18,035 3.97  
    Regular savings   700,762     749 0.43     702,543     763 0.44  
    Time deposits   1,541,008     16,261 4.23     1,476,495     16,106 4.42  
    Total time and interest-bearing deposits   5,213,107     41,755 3.21     5,241,244     41,979 3.25  
                     
    Short-term borrowings   5,254     1 0.08     6,909     14 0.82  
    Long-term debt   200,549     2,128 4.26     217,500     2,361 4.40  
    Subordinated notes   149,444     2,281 6.12     149,319     2,281 6.20  
    Total borrowings   355,247     4,410 4.98     373,728     4,656 5.05  
    Total interest-bearing liabilities   5,568,354     46,165 3.33     5,614,972     46,635 3.37  
    Noninterest-bearing deposits   1,420,143           1,376,409        
    Operating lease liabilities   29,802           30,675        
    Accrued expenses and other liabilities   52,640           62,176        
    Total liabilities   7,070,939           7,084,232        
    Total interest-bearing liabilities and noninterest-bearing deposits (“Cost of Funds”)   6,988,497     2.65     6,991,381     2.71  
                     
    Shareholders’ Equity:                
    Common stock   157,784           157,784        
    Additional paid-in capital   301,016           302,653        
    Retained earnings and other equity   449,736           436,374        
    Total shareholders’ equity   908,536           896,811        
    Total liabilities and shareholders’ equity $ 7,979,475         $ 7,981,043        
    Net interest income   $ 59,957       $ 57,167    
                     
    Net interest spread     2.34       2.23  
    Effect of net interest-free funding sources     0.86       0.86  
    Net interest margin     3.20 %     3.09 %
    Ratio of average interest-earning assets to average interest-bearing liabilities   134.91 %         133.82 %      
                     
    * Obligations of states and political subdivisions are tax-exempt earning assets.          
    Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.
    Net interest income includes net deferred costs amortization of $689 thousand and $554 thousand for the three months ended June 30, 2025 and March 31, 2025, respectively.
    Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the three months ended June 30, 2025 and March 31, 2025 have been calculated using the Corporation’s federal applicable rate of 21.0%.  
                     
    Univest Financial Corporation  
    Average Balances and Interest Rates (Unaudited)  
        For the Three Months Ended June 30,      
    Tax Equivalent Basis 2025   2024  
      Average Income/ Average   Average Income/ Average  
    (Dollars in thousands) Balance Expense Rate   Balance Expense Rate  
    Assets:                
    Interest-earning deposits with other banks $ 131,391   $ 1,371 4.19 % $ 84,546   $ 1,108 5.27 %
    Obligations of state and political subdivisions*   –     – –     1,269     7 2.22  
    Other debt and equity securities   497,214     3,962 3.20     491,871     3,741 3.06  
    Federal Home Loan Bank, Federal Reserve Bank and other stock   36,711     671 7.33     37,286     700 7.55  
    Total interest-earning deposits, investments and other interest-earning assets   665,316     6,004 3.62     614,972     5,556 3.63  
                     
    Commercial, financial, and agricultural loans   1,005,784     17,686 7.05     983,615     17,447 7.13  
    Real estate—commercial and construction loans   3,692,262     54,165 5.88     3,549,206     50,577 5.73  
    Real estate—residential loans   1,727,381     21,772 5.06     1,660,489     20,413 4.94  
    Loans to individuals   15,575     337 8.68     26,821     542 8.13  
    Tax-exempt loans and leases   228,856     2,966 5.20     230,495     2,476 4.32  
    Lease financings   177,080     3,192 7.23     189,910     3,105 6.58  
    Gross loans and leases   6,846,938     100,118 5.86     6,640,536     94,560 5.73  
    Total interest-earning assets   7,512,254     106,122 5.67     7,255,508     100,116 5.55  
    Cash and due from banks   55,335           56,387        
    Allowance for credit losses, loans and leases   (88,127 )         (86,293 )      
    Premises and equipment, net   47,299           48,725        
    Operating lease right-of-use assets   26,948           30,344        
    Other assets   425,766           416,869        
    Total assets $ 7,979,475         $ 7,721,540        
                     
    Liabilities:                
    Interest-bearing checking deposits $ 1,216,909   $ 7,800 2.57 % $ 1,094,150   $ 7,311 2.69 %
    Money market savings   1,754,428     16,945 3.87     1,692,759     19,131 4.55  
    Regular savings   700,762     749 0.43     759,960     929 0.49  
    Time deposits   1,541,008     16,261 4.23     1,422,113     16,134 4.56  
    Total time and interest-bearing deposits   5,213,107     41,755 3.21     4,968,982     43,505 3.52  
                     
    Short-term borrowings   5,254     1 0.08     29,506     242 2.30  
    Long-term debt   200,549     2,128 4.26     250,000     2,777 4.47  
    Subordinated notes   149,444     2,281 6.12     148,943     2,281 6.16  
    Total borrowings   355,247     4,410 4.98     428,449     5,300 4.98  
    Total interest-bearing liabilities   5,568,354     46,165 3.33     5,397,431     48,805 3.64  
    Noninterest-bearing deposits   1,420,143           1,384,770        
    Operating lease liabilities   29,802           33,382        
    Accrued expenses and other liabilities   52,640           61,385        
    Total liabilities   7,070,939           6,876,968        
    Total interest-bearing liabilities and noninterest-bearing deposits (“Cost of Funds”)   6,988,497     2.65     6,782,201     2.89  
                     
    Shareholders’ Equity:                
    Common stock   157,784           157,784        
    Additional paid-in capital   301,016           299,426        
    Retained earnings and other equity   449,736           387,362        
    Total shareholders’ equity   908,536           844,572        
    Total liabilities and shareholders’ equity $ 7,979,475         $ 7,721,540        
    Net interest income   $ 59,957       $ 51,311    
                     
    Net interest spread     2.34       1.91  
    Effect of net interest-free funding sources     0.86       0.93  
    Net interest margin     3.20 %     2.84 %
    Ratio of average interest-earning assets to average interest-bearing liabilities   134.91 %         134.43 %      
                     
    * Obligations of states and political subdivisions are tax-exempt earning assets.          
    Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.
    Net interest income includes net deferred costs amortization of $689 thousand and $698 thousand for the three months ended June 30, 2025 and 2024, respectively.  
    Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the three months ended June 30, 2025 and 2024 have been calculated using the Corporation’s federal applicable rate of 21.0%.
       
    Univest Financial Corporation  
    Average Balances and Interest Rates (Unaudited)  
        For the Six Months Ended June 30,    
    Tax Equivalent Basis 2025   2024  
      Average Income/ Average   Average Income/ Average  
    (Dollars in thousands) Balance Expense Rate   Balance Expense Rate  
    Assets:                
    Interest-earning deposits with other banks $ 125,725   $ 2,731 4.38 % $ 102,696   $ 2,717 5.32 %
    Obligations of state and political subdivisions*   437     4 1.85     1,610     19 2.37  
    Other debt and equity securities   498,201     7,981 3.23     495,451     7,388 3.00  
    Federal Home Loan Bank, Federal Reserve Bank and other stock   37,134     1,358 7.37     38,201     1,424 7.50  
    Total interest-earning deposits, investments and other interest-earning assets   661,497     12,074 3.68     637,958     11,548 3.64  
                     
    Commercial, financial, and agricultural loans   998,363     34,706 7.01     959,132     33,970 7.12  
    Real estate—commercial and construction loans   3,698,214     106,841 5.83     3,562,174     101,218 5.71  
    Real estate—residential loans   1,728,259     43,314 5.05     1,639,339     39,968 4.90  
    Loans to individuals   17,495     730 8.41     27,068     1,090 8.10  
    Tax-exempt loans and leases   229,491     5,827 5.12     231,437     4,940 4.29  
    Lease financings   179,872     6,432 7.21     189,800     6,274 6.65  
    Gross loans and leases   6,851,694     197,850 5.82     6,608,950     187,460 5.70  
    Total interest-earning assets   7,513,191     209,924 5.63     7,246,908     199,008 5.52  
    Cash and due from banks   56,009           55,628        
    Allowance for credit losses, loans and leases   (87,975 )         (86,394 )      
    Premises and equipment, net   47,076           49,659        
    Operating lease right-of-use assets   27,352           30,733        
    Other assets   424,601           412,524        
    Total assets $ 7,980,254         $ 7,709,058        
                     
    Liabilities:                
    Interest-bearing checking deposits $ 1,219,446   $ 14,875 2.46 % $ 1,137,423   $ 15,529 2.75 %
    Money market savings   1,797,074     34,980 3.93     1,699,025     38,351 4.54  
    Regular savings   701,648     1,512 0.43     764,943     1,834 0.48  
    Time deposits   1,508,930     32,367 4.33     1,330,496     29,764 4.50  
    Total time and interest-bearing deposits   5,227,098     83,734 3.23     4,931,887     85,478 3.49  
                     
    Short-term borrowings   6,076     15 0.50     19,816     247 2.51  
    Long-term debt   208,978     4,489 4.33     271,243     5,660 4.20  
    Subordinated notes   149,382     4,562 6.16     148,881     4,562 6.16  
    Total borrowings   364,436     9,066 5.02     439,940     10,469 4.79  
    Total interest-bearing liabilities   5,591,534     92,800 3.35     5,371,827     95,947 3.59  
    Noninterest-bearing deposits   1,398,396           1,396,917        
    Operating lease liabilities   30,236           33,774        
    Accrued expenses and other liabilities   57,382           62,981        
    Total liabilities   7,077,548           6,865,499        
    Total interest-bearing liabilities and noninterest-bearing deposits (“Cost of Funds”)   6,989,930     2.68     6,768,744     2.85  
                     
    Shareholders’ Equity:                
    Common stock   157,784           157,784        
    Additional paid-in capital   301,830           300,052        
    Retained earnings and other equity   443,092           385,723        
    Total shareholders’ equity   902,706           843,559        
    Total liabilities and shareholders’ equity $ 7,980,254         $ 7,709,058        
    Net interest income   $ 117,124       $ 103,061    
                     
    Net interest spread     2.28       1.93  
    Effect of net interest-free funding sources     0.86       0.93  
    Net interest margin     3.14 %     2.86 %
    Ratio of average interest-earning assets to average interest-bearing liabilities   134.37 %         134.91 %      
                     
    * Obligations of states and political subdivisions are tax-exempt earning assets.          
    Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.
    Net interest income includes net deferred costs amortization of $1.2 million for the six months ended June 30, 2025 and 2024.
    Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the six months ended June 30, 2025 and 2024 have been calculated using the Corporation’s federal applicable rate of 21.0%.
                     
    Univest Financial Corporation
    Loan Portfolio Overview (Unaudited)
    June 30, 2025
             
    (Dollars in thousands)        
    Industry Description Total Outstanding Balance   % of Commercial Loan Portfolio  
    CRE – Retail $ 453,445   8.4 %
    Animal Production   401,946   7.5  
    CRE – Multi-family   360,345   6.7  
    CRE – 1-4 Family Residential Investment   279,322   5.2  
    CRE – Office   262,374   4.9  
    Hotels & Motels (Accommodation)   222,878   4.1  
    CRE – Industrial / Warehouse   222,234   4.1  
    Specialty Trade Contractors   197,138   3.7  
    Nursing and Residential Care Facilities   167,978   3.1  
    Homebuilding (tract developers, remodelers)   154,166   2.9  
    Merchant Wholesalers, Durable Goods   140,876   2.6  
    Repair and Maintenance   135,318   2.5  
    Motor Vehicle and Parts Dealers   132,852   2.5  
    Crop Production   113,684   2.1  
    CRE – Mixed-Use – Residential   113,422   2.1  
    Wood Product Manufacturing   99,041   1.8  
    Food Services and Drinking Places   88,822   1.7  
    Real Estate Lenders, Secondary Market Financing   87,750   1.6  
    Administrative and Support Services   86,092   1.6  
    Professional, Scientific, and Technical Services   85,567   1.6  
    Merchant Wholesalers, Nondurable Goods   81,836   1.5  
    Private Equity & Special Purpose Entities (except 52592)   76,957   1.4  
    CRE – Mixed-Use – Commercial   76,067   1.4  
    Fabricated Metal Product Manufacturing   72,635   1.4  
    Amusement, Gambling, and Recreation Industries   69,971   1.3  
    Education   65,839   1.2  
    Religious Organizations, Advocacy Groups   65,568   1.2  
    Personal and Laundry Services   63,886   1.2  
    Miniwarehouse / Self-Storage   63,531   1.2  
    Food Manufacturing   53,682   1.0  
    Industries with >$50 million in outstandings $ 4,495,222   83.6 %
    Industries with <$50 million in outstandings $ 880,273   16.4 %
    Total Commercial Loans $ 5,375,495   100.0 %
             
             
    Consumer Loans and Lease Financings Total Outstanding Balance      
    Real Estate-Residential Secured for Personal Purpose   984,166      
    Real Estate-Home Equity Secured for Personal Purpose   195,014      
    Loans to Individuals   14,069      
    Lease Financings   232,441      
    Total – Consumer Loans and Lease Financings $ 1,425,690      
             
    Total $ 6,801,185      
             
    Univest Financial Corporation
    Non-GAAP Reconciliation
    June 30, 2025
     
    Non-GAAP to GAAP Reconciliation
    Management uses non-GAAP measures in its analysis of the Corporation’s performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of the non-GAAP financial measures, which exclude the impact of the specified items, provides useful supplemental information that is essential to a proper understanding of the financial results of the Corporation. See the table below for additional information on non-GAAP measures used throughout this earnings release.
                               
      As of or for the three months ended,   As of or for the six months ended,
    (Dollars in thousands) 06/30/25   03/31/25   12/31/24   09/30/24   06/30/24   06/30/25   06/30/24
    Net income $ 19,978     $ 22,395     $ 18,941     $ 18,578     $ 18,107     $ 42,373     $ 38,412  
    Amortization of intangibles, net of tax   103       103       122       130       149       206       296  
    Net income before amortization of intangibles $ 20,081     $ 22,498     $ 19,063     $ 18,708     $ 18,256     $ 42,579     $ 38,708  
                               
    Shareholders’ equity $ 916,733     $ 903,472     $ 887,301     $ 877,071     $ 854,137     $ 916,733     $ 854,137  
    Goodwill   (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )
    Other intangibles (a)   (2,040 )     (2,104 )     (2,263 )     (2,147 )     (2,157 )     (2,040 )     (2,157 )
    Tangible common equity $ 739,183     $ 725,858     $ 709,528     $ 699,414     $ 676,470     $ 739,183     $ 676,470  
                               
    Total assets $ 7,939,056     $ 7,975,167     $ 8,128,417     $ 8,205,737     $ 7,855,446     $ 7,939,056     $ 7,855,446  
    Goodwill   (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )
    Other intangibles (a)   (2,040 )     (2,104 )     (2,263 )     (2,147 )     (2,157 )     (2,040 )     (2,157 )
    Tangible assets $ 7,761,506     $ 7,797,553     $ 7,950,644     $ 8,028,080     $ 7,677,779     $ 7,761,506     $ 7,677,779  
                               
    Average shareholders’ equity $ 908,536     $ 896,811     $ 880,237     $ 864,406     $ 844,572     $ 902,706     $ 843,559  
    Average goodwill   (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )     (175,510 )
    Average other intangibles (a)   (2,068 )     (2,162 )     (2,146 )     (2,086 )     (2,222 )     (2,114 )     (2,271 )
    Average tangible common equity $ 730,958     $ 719,139     $ 702,581     $ 686,810     $ 666,840     $ 725,082     $ 665,778  
                               
    (a) Amount does not include mortgage servicing rights

    The MIL Network –

  • MIL-OSI USA: Rep. Norcross Honors Pilots and Flight Attendants Who Saved His Life

    Source: United States House of Representatives – Congressman Donald Norcross (1st District of New Jersey)

    WASHINGTON, DC — Today, Congressman Donald Norcross (D-NJ) honored the pilots and flight attendants who saved his life: Captain Michael Tibaldo, First Officer James Kim, Flight Attendant Donnell Mitchell, and Flight Attendant Jaclyn Curry, all of whom are unionized workers who are members of Teamsters Local 357 and Teamsters Local 135. General President of the International Brotherhood of Teamsters, Sean O’Brien, and General Secretary-Treasurer at Teamsters, Fred Zuckerman, were also in attendance.

    During the event, Congressman Donald Norcross presented the Republic Airways pilots and flight attendants with framed copies of Congressional Record statements detailing their heroic actions.

    “I’m incredibly grateful to Captain Michael Tibaldo, First Officer James Kim, Flight Attendant Donnell Mitchell, and Flight Attendant Jaclyn Curry for saving my life,” said Congressman Donald Norcross. “Every minute matters in a medical emergency, and I’m lucky that the Republic Airlines crew was trained, equipped, and ready to respond when I was in my hour of need. It’s an honor to present the airline crew with an official Congressional Record of their heroic actions, and I once again thank them for their bravery.”

    On April 6, 2025, Congressman Donald Norcross experienced a sudden medical emergency while traveling on Republic Flight 4711. The crew members and airline pilots reacted swiftly to provide the Congressman with immediate medical attention, divert the airplane, and transport him to the University of North Carolina (UNC) Rex Hospital. The Congressman was later diagnosed with sepsis.

    Thanks to the pilots, flight attendants, doctors, and nurses at UNC Rex and Cooper University Hospital, Congressman Donald Norcross was able to make a full recovery from this medical emergency.

    ###

    MIL OSI USA News –

  • MIL-OSI Banking: Verizon Delivers a one-two punch with Best Wireless Network Performance results:

    Source: Verizon

    Headline: Verizon Delivers a one-two punch with Best Wireless Network Performance results:

    NEW YORK – Another day, another set of network victories for the wireless provider serving the most mobility and broadband customers in the U.S.¹ In back-to-back benchmarking reports, Verizon continues its award-winning momentum as J.D. Power – the global leader in consumer insights, advisory services and data and analytics – names Verizon America’s Most Awarded Brand for Network Quality, 35 times in a row in the J.D. Power 2025 U.S. Wireless Network Quality Study – Volume 2. Meanwhile, the industry-leading wireless provider dominates the 1H 2025 RootMetrics study, claiming top spots for Best 5G Network; Fastest 5G Network; and Most Reliable 5G Network.

    “When you’re named the Most Awarded Brand for Network Quality, 35 Times in a Row by the gold standard for customer satisfaction and service quality ratings, it explains why more customers, businesses, sports leagues and everyone in between choose Verizon,” said Joe Russo, EVP & President, Global Network and Technology, Verizon. “This recognition just reinforces what we- and our customers- have always known: Verizon delivers unmatched quality, unwavering reliability and innovative connectivity that people count on whenever and wherever it matters most.”

    Verizon’s latest recognition underscores its ongoing streak of industry leadership and network excellence.  As 5G reshapes the wireless landscape, Verizon continues to set the standard with a durable, high-performing network that delivers for millions of customers nationwide.  This momentum reflects the company’s relentless investment and forward-thinking strategy, ensuring that Verizon remains at the forefront of connectivity and innovation.

    A true differentiator in the industry, Verizon stands apart through the depth and versatility of its network offerings, delivering exceptional value for customers, including:

    • Unmatched reliability and coverage: Verizon’s awarding-winning 5G and 4G LTE networks deliver coast-to-coast coverage, keeping customers connected in bustling cities and remote communities alike.  The networks’ proven performance means fewer dropped calls and dependable service when it matters most and to complement Verizon’s industry leading network coverage, its satellite services remain free of charge to Verizon customers.
    • 5G leadership that sets the pace: Verizon’s 5G Ultra Wideband continues to raise the bar, offering blazing-fast speeds and ultra-low latency for streaming, gaming and remote work.  With dedicated mmWave and C-band spectrum now reaching more than 280 million people, and expanding.
    • Consistent speed, even in high-traffic moments: Verizon’s ongoing network investments enable fast, reliable connections—even in crowded stadiums, busy downtowns and during peak hours.
    • Powering innovation for critical sectors: From utilities and transportation to public safety, Verizon’s advanced network delivers secure, low-latency solutions that drive smart grid technology, IoT deployments and private networks.  The Verizon Frontline Innovation Program continues to deliver next-generation tools for first responders and essential services.
    • Security at every level: Verizon prioritizes network security, employing robust measures to protect customer data and communications.  This is especially important for government agencies and critical infrastructure, where advanced cybersecurity safeguards sensitive information.

    Verizon keeps raising the bar for what’s possible in connectivity, powering experiences that make lives better. As the model of excellence for network quality and 5G performance, Verizon delivers exceptional value to its customers by combining its industry-leading network, compelling customer offerings, and AI-powered customer experience innovations that set a new standard for what customers can expect.  The  Verizon team isn’t just leading today– they are shaping the future of how people live, work and play. 

    MIL OSI Global Banks –

  • MIL-OSI United Nations: Haiti: Violence and displacement driving humanitarian crisis as funding needs go unmet

    Source: United Nations 2

    Nearly 1.3 million people in the Caribbean country have fled their homes, with an additional 15,000 uprooted ast week after armed attacks in the communes of Dessalines and Verrettes in the Artibonite department.

    Further, the UN Children’s Fund (UNICEF) and its partners have screened more than 217,000 children for acute malnutrition in 2025. Some 21,500 children have been admitted for acute malnutrition treatment, representing a mere 17 per cent of the 129,000 children who are projected to need life-saving treatment this year.  

    This malnutrition stems from severe food insecurity across the country. The Integrated Food Security Phase Classification (IPC) reported that an estimated 5.7 million people – more than half of Haiti’s population – faced high levels of acute food insecurity between March and June this year.  

    Education emergency

    Haiti’s children also face an education emergency. More than 1,600 schools remain closed in Haiti – an increase of over two-thirds compared to the start of the year.  

    “Without access to education, children, of course, are more vulnerable to exploitation and recruitment by gangs,” UN Spokesperson Stéphane Dujarric told journalists at Headquarters in New York

    In response, UNICEF has provided learning opportunities to more than 16,000 children, and the agency has provided over 100,000 children with mental health and psychosocial support.      

    Insecurity and lack of funds straining access

    Despite dire humanitarian needs and commendable efforts by UN agencies, the current support “is just a fraction of what is needed in Haiti,” Mr. Dujarric emphasised.

    Insecurity continues to constrain the humanitarian response, causing access challenges, supply shortages and the closure of health facilities.

    Subsequently, the many displaced families in urgent need of hygiene supplies, food, emergency shelter, medical assistance, and other essential items are often unable to access them.  

    Humanitarian response is also hampered by a severe lack of funds.

    “Haiti remains, as I have said here many times, the least funded of our underfunded country appeals globally,” Mr. Dujarric stressed. More than halfway through the year, the Haitian humanitarian response plan has received less than 9 per cent of the $908 million required.  

    MIL OSI United Nations News –

  • MIL-Evening Report: Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics has hurt the famous women traders

    Source: The Conversation (Au and NZ) – By Fidele B. Ebia, Postdoctoral fellow, Duke Africa Initiative, Duke University

    The manufacturing of African print textiles has shifted to China in the 21st century. While they are widely consumed in African countries – and symbolic of the continent – the rise of “made in China” has undermined the African women traders who have long shaped the retail and distribution of this cloth.

    For many decades Vlisco, the Dutch textile group which traces its origins to 1846 and whose products had been supplied to west Africa by European trading houses since the late 19th century, dominated manufacture of the cloth. But in the last 25 years dozens of factories in China have begun to supply African print textiles to west African markets. Qingdao Phoenix Hitarget Ltd, Sanhe Linqing Textile Group and Waxhaux Ltd are among the best known.

    We conducted research to establish how the rise of Chinese-made cloth has affected the African print textiles trade. We focused on Togo. Though it’s a tiny country with a population of only 9.7 million, the capital city, Lomé, is the trading hub in west Africa for the textiles.

    We conducted over 100 interviews with traders, street sellers, port agents or brokers, government officials and representatives of manufacturing companies to learn about how their activities have changed.

    “Made in China” African print textiles are substantially cheaper and more accessible to a wider population than Vlisco fabric. Our market observations in Lomé’s famous Assigamé market found that Chinese African print textiles cost about 9,000 CFA (US$16) for six yards – one complete outfit. Wax Hollandais (50,000 CFA or US$87) cost over five times more.

    Data is hard to come by, but our estimates suggest that 90% of imports of these textiles to Lomé port in 2019 came from China.

    One Togolese trader summed up the attraction:

    Who could resist a cloth that looked similar, but that cost much less than real Vlisco?

    Our research shows how the rise of China manufactured cloth has undermined Vlisco’s once dominant market share as well as the monopoly on the trade of Dutch African print textiles that Togolese traders once enjoyed.

    The traders, known as Nana-Benz because of the expensive cars they drove, once enjoyed an economic and political significance disproportionate to their small numbers. Their political influence was such that they were key backers of Togo’s first president, Sylvanus Olympio – himself a former director of the United Africa Company, which distributed Dutch cloth.

    In turn, Olympio and long-term leader General Gnassingbé Eyadéma provided policy favours – such as low taxes – to support trading activity. In the 1970s, African print textile trade was considered as significant as the phosphate industry – the country’s primary export.

    Nana-Benz have since been displaced – their numbers falling from 50 to about 20. Newer Togolese traders – known as Nanettes or “little Nanas” – have taken their place. While they have carved out a niche in mediating the textiles trade with China, they have lower economic and political stature. In turn, they too are increasingly threatened by Chinese competition, more recently within trading and distribution as well.

    China displaces the Dutch

    Dating back to the colonial period, African women traders have played essential roles in the wholesale and distribution of Dutch cloth in west African markets. As many countries in the region attained independence from the 1950s onwards, Grand Marché – or Assigamé – in Lomé became the hub for African print textile trade.

    While neighbouring countries such as Ghana limited imports as part of efforts to promote domestic industrialisation, Togolese traders secured favourable conditions. These included low taxes and use of the port.

    Togolese women traders knew the taste of predominantly female, west African customers better than their mostly male, Dutch designers. The Nana-Benz were brought into the African print textile production and design process, selecting patterns and giving names to designs they knew would sell.

    They acquired such wealth from this trade that they earned the Nana-Benz nickname from the cars they purchased and which they used to collect and move merchandise.

    Nana-Benz exclusivity of trading and retailing of African print textiles cloth in west African markets has been disrupted. As Vlisco has responded to falling revenues – over 30% in the first five years of the 21st century – due to its Chinese competition, Togolese traders’ role in the supply chain of Dutch cloth has been downgraded.

    In response to the flood of Chinese imports, the Dutch manufacturer re-positioned itself as a luxury fashion brand and placed greater focus on the marketing and distribution of the textiles.

    Vlisco has opened several boutique stores in west and central Africa, starting with Cotonou (2008), Lomé (2008) and Abidjan (2009). The surviving Nana-Benz – an estimated 20 of the original 50 – operate under contract as retailers rather than traders and must follow strict rules of sale and pricing.

    While newer Togolese traders known as Nanettes are involved in the sourcing of textiles from China, they have lower economic and political stature. Up to 60 are involved in the trade.

    Former street sellers of textiles and other petty commodities, Nanettes began travelling to China in the early to mid-2000s to source African print textiles. They are involved in commissioning and advising on the manufacturing of African print textiles in China and the distribution in Africa.

    While many Nanettes order the common Chinese brands, some own and market their own. These include what are now well-known designs in Lomé and west Africa such as “Femme de Caractère”, “Binta”, “Prestige”, “Rebecca Wax”, “GMG” and “Homeland”.

    Compared to their Nana-Benz predecessors, the Nanettes carve out their business from the smaller pie available from the sale of cheaper Chinese cloth. Though the volumes traded are large, the margins are smaller due to the much lower final retail price compared to Dutch cloth.

    After procuring African print textiles from China, Nanettes sell wholesale to independent local traders or “sellers” as well as traders from neighbouring countries. These sellers in turn break down the bulk they have purchased and sell it in smaller quantities to independent street vendors.

    All African print textiles from China arrive in west Africa as an incomplete product – as six-yard or 12-yard segments of cloth, not as finished garments. Local tailors and seamstresses then make clothes according to consumer taste. Some fashion designers have also opened shops where they sell prêt-à-porter (ready-to-wear) garments made from bolts of African print and tailored to local taste. Thus, even though the monopoly of the Nana-Benz has been eroded, value is still added and captured locally.

    Since the COVID-19 pandemic, Chinese actors have become more involved in trading activity – and not just manufacturing. The further evolution of Chinese presence risks an even greater marginalisation of locals, already excluded from manufacturing, from the trading and distribution end of the value chain. Maintaining their role – tailoring products to local culture and trends and linking the formal and informal economy – is vital not just for Togolese traders, but also the wider economy.

    Rory Horner receives funding from the British Academy Mid-Career Fellowship. He is also a Research Associate at the Department of Geography, Environmental Management and Energy Studies at the University of Johannesburg.

    Fidele B. Ebia 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. Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics has hurt the famous women traders – https://theconversation.com/togos-nana-benz-how-cheap-chinese-imports-of-african-fabrics-has-hurt-the-famous-women-traders-260924

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: 4.48 Psychosis revival: the play’s window into a mind on the edge is as brutal as ever

    Source: The Conversation (Au and NZ) – By Leah Sidi, Associate Professor of Health Humanities, UCL

    Under bright lights, the audience looks at a bare stage on two planes. Below, a small stage is white and empty, occupied only by a table and two chairs. Above, a huge, slanted mirror reflects a bird’s-eye view of the stage to the audience. Three middle-aged figures enter the stage without looking at each other. One lies down, staring into the mirror. One stands and one sits. For the next 70 minutes, they will never hold one another’s gaze.

    This is the revival of Sarah Kane’s play 4.48 Psychosis. The production takes place 25 years after the original work, bringing the original cast and creative team back to the Royal Court where the play was first staged – now transferred to The Other Place, a small theatre run by the Royal Shakespeare Company.

    It replicates the staging of the original with precision. The same faces are on the same set, making the same gestures. Even the projections of the street outside show cars from the 1990s. And yet, because this is theatre, there are inevitable differences.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    The play is a revival and a commemoration. Kane wrote 4.48 Psychosis in the year leading up to her death by suicide in 1999 and completed it during her final stay in a psychiatric hospital. It stages the experience of a suicidal and psychotic mind breaking down.

    About a week after sending the play to her agent, Kane ended her own life. A year later, the original production was staged at the Royal Court, directed by her long-term collaborator James Macdonald and starring three young actors: Daniel Evans, Madeleine Potter and Jo McInnes. All three have returned for this revival.

    4.48 Psychosis is a highly experimental play. It contains dialogue between doctor and patient, poetry, seemingly psychotic speech, lists and quotations from literature and medical documents. In her aims for the play, Kane was both very open and very specific. She described the play in an interview at Royal Holloway University as an attempt to stage the experience of a mind breaking down:

    I’m writing a play called 4:48 Psychosis … It’s about a psychotic breakdown and what happens in a person’s mind when the barriers which distinguish between reality and different forms of imagination completely disappear … you no longer know where you stop and the world starts.

    What’s more, through an experimental style, Kane hoped to make her audience experience some of the distress experienced by the mental collapse being staged. She described this as “making form and content one”.

    How this strange work was to be staged was to be left up to future creatives. She didn’t specify how many actors should perform the work, or provide references to their age or gender. Kane believed that as a playwright, her job was to write the work, and then let directors figure it out.

    The result was that the first performance split the experience of breakdown across three actors. At times, they take on more specific roles such as a patient, a doctor, and a lover or bystander. At others, they all seem to occupy a shared mental reverie.

    Since the original production, 4.48 Psychosis has been staged in multiple ways around the world. French actor Isabelle Huppert performed the first French production largely as a monologue in 2005, with occasional lines delivered by Gérard Watkins as a psychiatrist. Recently in the UK it has been transformed into a successful opera in which a six-person ensemble and full orchestra performed the play’s “hive mind”, and has been performed in a plastic box in British Sign Language.

    When it was first performed in 2000, a year after Kane’s death, the play left a profound impression on its audiences. It was arguably one of the most brutal, head-on representations of mental illness that had ever been seen in British theatre. Reviews from that first production discuss anxieties about whether the play should be viewed as a “suicide note” – a disturbingly “real” reference to Kane’s death.

    Today, such anxieties may seem less relevant. After all, over two decades have passed since Kane’s death, and we are in a very different world when it comes to how we view disclosure of personal struggle. In a culture of mental health awareness campaigns and social media oversharing, the closeness of Kane’s suffering to her work seems less scandalous, and perhaps less unsettling.

    At times, this revival feels a bit more like a repetition, or archival reconstruction than a fresh performance. There are moments that feel dated – for example, the use of pixelated projections.

    The most compelling moments were where something original was introduced due to the more advanced ages of the actors. In my experience, the play is typically performed by a younger cast, as a rageful, energetic cry of despair. It hits differently with a cast in their fifties.

    Madeleine Potter’s resigned, ironic complaints about being mistreated by “Dr This and Dr That” gave the impression of a woman with a lifetime’s experience of inadequate mental health services. And Jo McInnes’s desperate monologue about lost love could be referencing an estranged or dead child, as much as a lover.

    These moments inserted something new into Kane’s iconic last work and underlined that mental suffering is far from being the privilege of the young. More of a slow burn than an explosive cry of anger, this return to 4.48 Psychosis explores mental torment that can persist over a lifetime, revealing it to be as relevant as ever.

    4.48 Psychosis is at The Other Place until July 27.

    Leah Sidi 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. 4.48 Psychosis revival: the play’s window into a mind on the edge is as brutal as ever – https://theconversation.com/4-48-psychosis-revival-the-plays-window-into-a-mind-on-the-edge-is-as-brutal-as-ever-261430

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: How the UK’s immigration system splits families apart – by design

    Source: The Conversation (Au and NZ) – By Nando Sigona, Professor of International Migration and Forced Displacement and Director of the Institute for Research into International Migration and Superdiversity, University of Birmingham

    arda savasciogullari/Shutterstock

    The letter that arrived for eleven-year-old Guilherme in June 2025 was addressed personally to him. The UK Home Office was informing him that he and his eight-year-old brother Luca must return to Brazil. Their parents, an academic and a senior NHS nurse, both long-term UK residents with valid visas were not included in the order.

    “Whilst this may involve a degree of disruption in family life,” the letter stated, “this is considered to be proportionate to the legitimate aim of maintaining effective immigration control.”

    The family’s difficulties with the Home Office began after the parents divorced a few years after arriving in the UK. Mother and children arrived in the UK as dependants on the father’s visa. After the divorce, the mother secured her own skilled worker visa, while the father was granted indefinite leave to remain in 2024.

    Under current rules, skilled workers must wait five years before applying for settlement. For the children to qualify for settlement, both parents must be settled or one must have sole responsibility – neither condition applies here. Only after media attention did the Home Office reconsider the decision.

    This case is just the latest example of how barriers to migrants’ family life are embedded in the UK’s immigration system – something I have been studying for years. The Labour government’s recently announced immigration plans extend and bolster these barriers.

    Current rules require migrants to earn at least £29,000 to sponsor a spouse or child – a figure set to rise to £38,700 in early 2026 after changes introduced by the last government. The newest immigration plans propose doubling the path to settlement from five to ten years. And they restrict the rights to family reunion to only “nuclear” families: divorced parents, adult children and extended kin are left out.

    These changes are aimed at reducing migration and restoring “public trust”. But in practice, they make family unity a luxury — harder to achieve for low-paid migrant workers and even for working-class British citizens with foreign partners.



    Read more:
    ‘Just the rich can do it’: our research shows how immigration income requirements devastate families

    The price of family life

    Recent research my colleagues and I conducted — based on over 50 interviews with migrant domestic and food delivery workers and other experts — shows how the immigration system fractures families and puts children at risk.

    Faith, a Zimbabwean domestic worker, explained how she was unable to bring her eldest daughter to the UK due to age restrictions on dependant visas. Her daughter was later trafficked into the UK and, though she eventually rejoined her mother, hasn’t recovered from the trauma of separation: “She’s struggling to sleep, can’t eat … always emotional, saying she feels dizzy, scared to be around people.”

    Faith had been trapped in an abusive relationship for a long time because her visa was tied to her partner. When she eventually left her partner, her visa was withdrawn – leaving her in breach of immigration rules. Her younger child was placed in care while Faith was detained for breaching the terms of her visa.

    Jamal, a food delivery rider from Eritrea, had a similar experience of legal dependency. He came to the UK on a dependant visa linked to his British wife. After their relationship deteriorated, his ability to remain in the country was threatened: “If we have problems, she can cancel my visa. This was her weapon.”

    Susan, a Zimbabwean woman working in the care and cleaning sector, moved to the UK to look after her adult daughter who had cancer. When her six month visitor visa expired, she applied for asylum, but her application was refused and eventually she was detained for almost a month.

    She faced deportation but was released after a legal aid lawyer helped her submit strong evidence of her daughter’s condition. Reflecting on her experience, she explained: “When it benefits them, they say I’ve had no contact [with my family in the UK]. When they want to deport me, they say I have family to return to [in Zimbabwe].”

    Immigration status doesn’t just define one’s own legal position, it can determine who gets the right to have a family in the UK and who does not. While some of our interviewees secured status through a partner’s EU citizenship and reunited with family members already in the UK, others who rely on temporary visas are excluded.

    Changes to the immigration in recent years have placed a higher value on how migrants can contribute or provide “value” – seeing them as workers (or students) first, not members of families. Many are allowed in the UK for a limited time and without the right to bring with them even the closest family members. The effect is particularly harsh on women in domestic work, whose visas are short-term and not renewable.

    Many interviewees reported that immigration barriers delayed or obstructed their children’s education or healthcare. Samantha’s daughter waited over two months for a school placement because their legal status was still pending. Adriana was charged £8,000 for NHS maternity services because of her undocumented status, which restricts access to free healthcare to GP and emergency care.

    Even in less extreme cases, legal insecurity takes a toll. Children grow up hearing their parents talk about “papers”, “Home Office letters” or the risk of being “sent back”.

    That the Home Office sent a removal letter to an eleven-year-old is not a clerical error. It is the system working as designed. And even when public outrage forces a reversal — as in Guilherme’s case — the wider machinery of enforcement continues.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Nando Sigona is Scientific Coordinator of “Improving the Living and Working Conditions of Irregularised Migrant Households in Europe” (www.i-claim.eu), a three-year six-country research project, funded by the European Commission’s Horizon Europe and UKRI.

    – ref. How the UK’s immigration system splits families apart – by design – https://theconversation.com/how-the-uks-immigration-system-splits-families-apart-by-design-261134

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Immigration courts hiding the names of ICE lawyers goes against centuries of precedent and legal ethics requiring transparency in courts

    Source: The Conversation (Au and NZ) – By Cassandra Burke Robertson, Professor of Law and Director of the Center for Professional Ethics, Case Western Reserve University

    Some immigration courts have allowed ICE attorneys to conceal their names during proceedings. Jacob Wackerhausen/iStock via Getty Images

    Something unusual is happening in U.S. immigration courts. Government lawyers are refusing to give their names during public hearings.

    In June 2025, Immigration Judge ShaSha Xu in New York City reportedly told lawyers in her courtroom: “We’re not really doing names publicly.” Only the government lawyers’ names were hidden – the immigrants’ attorneys had to give their names as usual. Xu cited privacy concerns, saying, “Things lately have changed.”

    When one immigration lawyer objected that the court record would be incomplete without the government attorney’s name, Xu reportedly refused to provide it. In another case, New York immigration Judge James McCarthy in July referred to the U.S. Immigration and Customs Enforcement, or ICE, attorney as merely “Department” throughout the hearing.

    New York immigration Judge Shirley Lazare-Raphael told The Intercept that some ICE attorneys believe it is “dangerous to state their names publicly.” This follows a broader pattern of ICE agents wearing masks during arrests to hide their identities.

    This secrecy violates a fundamental principle that has protected Americans for centuries: open courts. Here’s how those courts operate and why the principle governing them matters.

    Hiding of ICE attorneys’ names in court fits a broader pattern seen here outside a New York immigration courtroom of ICE agents wearing masks.
    AP Photo/Olga Fedorova

    ‘Presumption of openness’

    The U.S. legal system is built on openness, with multiple layers of legal protection that guarantee public access to court proceedings.

    This tradition of open courts developed as a direct rejection of secret judicial proceedings that had been used to abuse power in England. The notorious Star Chamber operated in secret from the 15th to 17th centuries, initially trying people “too powerful to be brought before ordinary common-law courts.”

    But the Star Chamber eventually became a tool of oppression, using torture to obtain confessions and punishing jurors who ruled against the Crown. Parliament abolished it in 1641 after widespread abuses.

    By the time American colonial courts were established, the reaction against the Star Chamber had already shaped English legal thinking toward openness. American courts adopted this principle of transparency from the beginning, rejecting the secretive proceedings that had enabled abuse.

    Today, the term “star chamber” refers to any secret court proceeding that seems grossly unfair or is used to persecute individuals.

    In the U.S., courts have repeatedly emphasized that “justice faces its gravest threat when courts dispense it secretly.” The First Amendment gives the public a right to observe judicial proceedings. The Supreme Court has ruled that “a presumption of openness inheres in the very nature of a criminal trial under our system of justice.”

    Every federal appeals court has recognized that this constitutional right extends to civil cases too, with some exceptions such as protecting “the parties’ privacy, confidential business information, or trade secrets.” Federal court rules require that trials be “conducted in open court” and that witness testimony be “taken in open court unless otherwise provided.”

    Many state constitutions also guarantee open courts – such as Oregon’s mandate that “no court shall be secret.”

    While there’s no explicit law requiring attorneys to be publicly named, there’s also no policy allowing their names to be kept secret. The presumption is always toward openness.

    In response to these recent developments, law professor Elissa Steglich said that she’d “never heard of someone in open court not being identified,” and that failing to identify an attorney could impair accountability “if there are unethical or professional concerns.”

    Rules for anonymity

    Courts sometimes allow anonymity, but only in specific circumstances.

    Juries can be anonymous when there’s “substantial danger of harm or undue influence,” as legal expert Michael Crowell writes – like in high-profile organized crime cases or when defendants have tried to intimidate witnesses before. Even then, the lawyers still know the jurors’ names.

    Similarly, parties to a lawsuit can sometimes use pseudonyms like “Jane Doe” when the case involves highly sensitive matters such as sexual abuse, or when there’s a real risk of physical retaliation.

    But these rare exceptions require careful court review.

    What’s happening with ICE attorneys is different. There’s no formal court ruling allowing it, no specific safety findings and no established legal process.

    Immigration courts have fewer protections

    Immigration courts operate differently from regular federal courts. They are so-called “administrative courts” that are part of the executive branch, not the judicial branch.

    These courts decide claims involving an individual’s right to stay in the U.S., either when the government seeks to remove someone from the country for violating immigration law or when an individual seeks to stay in the country through the asylum process.

    Immigration judges lack the lifetime job protections that regular federal judges have. As executive branch government employees, they can be hired and fired, just like other Department of Justice employees.

    People in immigration court also have fewer procedural protections than criminal defendants. They have no right to court-appointed counsel and must represent themselves unless they can afford to hire an attorney. The majority of immigrants appear without an attorney. Outcomes are better for those who can afford to hire counsel.

    Immigration court records are also less accessible to the public than other federal court proceedings.

    For years, the Board of Immigration Appeals, the nation’s highest immigration court, made less than 1% of its opinions publicly available. A federal court ruled that public disclosure was required; the Board of Immigration Appeals now posts its decisions online.

    However, lower immigration court decisions are rarely made public.

    Because immigration courts operate with less oversight than regular federal courts, public observation becomes more critical.

    Open courts aren’t just about legal procedure – they’re about democracy itself. When the public can observe how justice is administered, it builds confidence that the system is fair.

    Federal agents patrol the halls of immigration court at the Jacob K. Javitz Federal Building on July 21, 2025, in New York City.
    Michael M. Santiago/Getty Images

    Court watching protects transparency

    Court watching has become an important way for citizens to ensure due process is honored, especially in immigration cases.

    Observers can monitor whether proper legal procedures are being followed. They can watch for signs that attorneys are prepared, treating people respectfully and following court rules – regardless of whether those attorneys identify themselves.

    Observers help track trends such as lack of legal representation, language barriers or procedural unfairness that can inform advocacy for reforms. This kind of public oversight is especially important in immigration court, where people often don’t have lawyers and may not understand their rights.

    When community members bear witness to these proceedings, it helps ensure the system operates fairly and transparently.

    Professional ethics and accountability

    As a law professor who runs a law school’s Center for Professional Ethics, I can say that while there’s no specific law forcing ICE attorneys to identify themselves, they are still bound by rules of professional conduct that require accountability and transparency.

    State bar associations have clear standards about attorney conduct in court proceedings. The American Bar Association’s Model Rules of Professional Conduct emphasize that lawyers are “officers of the legal system” with duties to uphold its integrity.

    Immigration judges, despite being government employees rather than lifetime-tenured federal judges, are also bound by judicial conduct codes that require them to uphold public confidence in the justice system. When judges allow or encourage anonymity without formal procedures or safety findings, they risk violating these ethical obligations.

    Bar associations can investigate professional conduct violations and impose sanctions ranging from reprimands to suspension or disbarment. While enforcement against federal government lawyers has historically been uncommon, sustained documentation by court observers can provide the evidence needed for formal complaints.

    While government attorneys, judges and other court personnel may face real safety concerns, hiding their identities in open court is unprecedented and breaks with centuries of legal tradition that requires accountability and transparency in our justice system.

    As pressure mounts to process immigration cases quickly, courts are ethically and legally bound to ensure that speed doesn’t come at the expense of fundamental fairness and transparency.

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

    – ref. Immigration courts hiding the names of ICE lawyers goes against centuries of precedent and legal ethics requiring transparency in courts – https://theconversation.com/immigration-courts-hiding-the-names-of-ice-lawyers-goes-against-centuries-of-precedent-and-legal-ethics-requiring-transparency-in-courts-261452

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Almost a third of NZ households face energy hardship – reform has to go beyond cheaper off-peak power

    Source: The Conversation (Au and NZ) – By Kimberley O’Sullivan, Senior Research Fellow, He Kainga Oranga – Housing and Health Research Programme, University of Otago

    Igor Suka/Getty Images

    The spotlight is again on New Zealand’s energy sector, with a group of industry bodies and independent retailers pushing for a market overhaul, saying the sector was “broken” and “driving up the cost of living”.

    The Commerce Commission and the Electricity Authority has already established a joint task force, after prices peaked in 2024, to investigate ways to improve the performance of the electricity market.

    The Authority recently announced new rules requiring larger electricity retailers to offer lower off-peak power prices from next year. The government is also expected to make further announcements on the sector.

    But the question is whether these changes will do enough to help New Zealanders live affordably in dry and warm homes.

    Some 30% of households face energy hardship. This means they struggle to afford or access sufficient energy to meet their daily needs.

    Caused by a combination of poor housing quality, high energy costs and the specific needs of vulnerable residents, energy hardship can lead to serious health issues and high hospital admission costs.

    We know from our own research over the past 18 years that having power disconnected can negatively affect health and wellbeing.

    People have told us that not being able to afford enough power to keep warm made them more likely to get sick and exacerbated existing health conditions. They described mental distress from unaffordable electricity and the threat of disconnection.

    Research participants used words such as “stressed”, “anxious” or “depressed”. They also spoke about having to choose between food and power bills.

    If power is disconnected, there can be additional costs from losing food in the fridge and freezer, as well as the problem of paying disconnection and reconnection fees when people already can’t afford the bill.

    What’s driving up power bills?

    In 2024, a “dry year” that increased the value of hydro generation, combined with lower-than-usual wind and declining supply of gas, resulted in wholesale electricity price spikes. But these winter shortages aren’t the only factor pushing up power bills.

    Electricity bills reflect several costs along the supply chain from generation to getting the electricity to the sockets in our homes. A new regulatory period for lines charges from April 2025 increased bills by $10 to $25 per month, depending on where you live.

    At the same time, low fixed daily charges are being phased out. This means the cost of being connected to the grid is the same no matter how much power is used.

    It is the poorest New Zealanders who are being hardest hit. The lowest income households spend a bigger proportion of their income on power compared to higher income households. Having electricity prices increase faster than inflation will put even more families at risk.

    The average household electricity bill was up 8.7% in May 2025 compared to June 2024. According to a recent Consumer NZ survey, 20% of respondents said they struggled to pay their power bill in the past year.

    Tackling hardship

    The new Consumer Care Obligations might help reduce some of the risks. Power companies must now comply with these obligations when working with households struggling to pay their bills, are facing disconnection or have someone in the home who is medically dependent on electricity.

    If households feel their power company is not meeting these obligations, they can contact Utilities Disputes, a free independent electricity and gas complaint resolution service, or the Electricity Authority.

    But multiple changes are needed to address the different parts of the energy hardship problem. Improving home energy efficiency through schemes like Warmer Kiwi Homes is crucial.

    Introducing an Energy Performance Rating for houses would make it easier for home buyers and renters to know how much it will cost to power a home before they move in. This would also help target energy hardship support.

    The government can also make electricity more affordable by supporting not-for-profit power companies. Another good move would be to help more households to install rooftop solar by providing access to long-term low-interest finance.

    Lower prices during off-peak hours are a good start. But it is clear the sheer size and complexity of the problems mean government action, with community and industry collaboration, needs to go beyond slightly cheaper electricity when there is less demand.

    Kimberley O’Sullivan receives funding from a Rutherford Discovery Fellowship administered by the Royal Society Te Apārangi, the Health Research Council, the Ministry of Business, Employment, and Innovation, and Lotteries Health Research.

    – ref. Almost a third of NZ households face energy hardship – reform has to go beyond cheaper off-peak power – https://theconversation.com/almost-a-third-of-nz-households-face-energy-hardship-reform-has-to-go-beyond-cheaper-off-peak-power-259140

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: NASA Tests Mixed Reality Pilot Simulation in Vertical Motion Simulator

    Source: NASA

    Commercial companies and government agencies are increasingly pursuing a more immersive and affordable alternative to conventional displays currently used in flight simulators. A NASA research project is working on ways to make this technology available for use faster. 
    Mixed reality systems where users interact with physical simulators while wearing virtual reality headsets offer a promising path forward for pilot training. But currently, only limited standards exist for allowing their use, as regulators have little to no data on how these systems perform. To address this, NASA’s Ames Research Center in California’s Silicon Valley invited a dozen pilots to participate in a study to test how a mixed-reality flight simulation would perform in the world’s largest flight simulator. 
    “For the first time, we’re collecting real data on how this type of mixed reality simulation performs in the highest-fidelity vertical motion simulator,” said Peter Zaal, a principal systems architect at Ames.  “The more we understand about how these systems affect pilot performance, the closer we are to providing a safer, cost-effective training tool to the aviation community that could benefit everyone from commercial airlines to future air taxi operators.” 

    Mixed reality blends physical and digital worlds, allowing users to see physical items while viewing a desired simulated environment. Flight simulators employing this technology through headset or a similar setup could offer pilots training for operating next-generation aircraft at a reduced cost and within a smaller footprint compared to more traditional flight simulators. This is because pilots could rely more heavily on the visuals provided through the headset instead of large embedded visual displays in a physical motion simulator. 
    During the testing – which ran May 23-30 – pilots donned a headset through which they could see the physical displays and control sticks inside the Vertical Motion Simulator (VMS) cab along with a virtual cockpit overlay of an electric vertical take-off and landing vehicle through the head-mounted display. When the pilots looked toward their windscreens, they saw a virtual view of San Francisco and the surrounding area. 
    Pilots performed three typical flight maneuvers under four sets of motion conditions. Afterward, they were asked to provide feedback on their level of motion sickness while using the head-mounted display and how well the simulator replicated the same movements the aircraft would make during a real flight. 
    An initial analysis of the study shows pilots reported lower ratings of motion sickness than NASA researchers expected. Many shared that the mixed-reality setup inside the VMS felt more realistic and fluid than previous simulator setups they had tested.  
    As part of the test, Ames hosted members of the Federal Aviation Administration Civil Aerospace Medical Institute, which studies factors that influence human performance in aerospace. Pilots from the National Test Pilot School attended a portion of the testing and, independent from the study, evaluated the head-mounted display’s “usable cue environment,” or representation of the visual cues pilots rely on to control an aircraft.  

    NASA will make the test results available to the public and the aviation community early next year. This first-of-its-kind testing – funded by an Ames Innovation Fair Grant and managed by the center’s Aviation Systems Division – paves the way for potential use of this technology in the VMS for future aviation and space missions. 

    MIL OSI USA News –

  • MIL-OSI USA: Radio JOVE Volunteers Tune In to the Sun’s Low Notes

    Source: NASA

    As the Sun approaches the most active part of its eleven-year magnetic cycle this summer, NASA volunteers have been watching it closely. Now they’ve spotted a new trend in solar behavior that will have you reaching for your suntan lotion. It’s all about something called a “Type II” solar radio burst:
    “Type II solar radio bursts are not commonly detected in the frequency range between 15 to 30 megahertz,” said Prof. Chuck Higgins, Co-founder of Radio JOVE. “Recently, we’re seeing many of them in that range.”
    Let’s unpack that. Our Sun often sprays powerful blasts of radio waves into space. Heliophysicists classify these radio bursts into five different types depending on how the frequency of the radio waves drifts over time. “Type II” solar radio bursts seem to come from solar flares and enormous squirts of hot plasma called coronal mass ejections.
    Now, Thomas Freeman, an undergraduate student at Middle Tennessee State University, and other volunteers working on NASA’s Radio JOVE project have observed something interesting about these Type II bursts: they are now showing up at lower frequencies—somewhere in between FM and AM radio. 
    What does it mean? It means our star is full of surprises! These Radio JOVE observations of the Sun’s radio emissions during solar maximum can be used to extend our knowledge of solar emissions to lower frequencies and, therefore, to distances farther from the Sun. 
    Radio JOVE is a NASA partner citizen science project in which participants assemble and operate radio astronomy telescopes to gather and contribute data to support scientific studies.  Radio JOVE collaborated with SunRISE Ground Radio Lab,  organized teams of high school students to observe the Sun, and recently published a paper on these Type II solar radio bursts. Learn more and get involved!  

    MIL OSI USA News –

  • MIL-OSI USA: GRUVE Lab

    Source: NASA

    The GRUVE (Glenn Reconfigurable User-Interface and Virtual Reality Exploration) Lab is located within the GVIS Lab. It is home to the CAVE, which is predominantly used for mission scenarios and to tour virtual environments of NASA facilities.

    GRUVE allows multiple people to view a visualization in 3D together. These visualizations include 3D models of NASA facilities and intricate images created from collected data. 
    Powerful projectors and mirrors, in combination with an infrared motion tracking system and active-shutter glasses, allow viewers to view 3D models and data in perfect perspective. 3D models effectively pop off the screen and remain proportional no matter where the user with the pair of tracking glasses moves in the environment. 
    The CAVE can be driven by either a Windows or Linux computer system, enabling the team to use the best environment for a given problem and software tool. 

    The CAVE’s technology provides a unique advantage for researchers, scientists, engineers, and others. Seeing and analyzing forces and data that would otherwise not be viewable to the human eye allows the observer to understand their subject matter in more detail. 
    Benefits of GRUVE to research include: 

    Providing an immersive environment: with large screens to fill peripheral vision and stereoscopic projection for a real sense of three-dimensional space, more parts of the brain are engaged, and the user is better able to understand problems and solve them faster 

    More effective collaboration: the ability to see each other in the virtual reality environment makes GRUVE better for collaboration than traditional VR technology 

    Seeing complex data and flows in 3D: this makes it easier for both experts and non-experts to understand the data 

    Providing greater resolution and larger display size: this allows details to be displayed without losing their context 

    Delivering faster and more accurate manipulation and viewing of models, including CAD data, with fewer errors: this results in a faster time to market and less re-work 

    All members of NASA Glenn may use GRUVE for their projects.

    Fluid dynamics analysis (CFD) 

    Point cloud data, e.g., LiDAR 

    Virtual design reviews 

    Virtual manufacturing testing 

    Computer Aided Design (CAD) 

    3D imaging data 

    Training and education 

    Virtual procedures 

    Biomedical research 

    Molecular dynamics 

    Virtual building walkthroughs 

    Showroom “theater” 

    Education and outreach 

    Building Information Management (BIM) 

    Big data and data mining 

    Cybersecurity data analysis 

    Safety systems analysis 

    Microfocus CT scan data 

    Electron microscopy 

    3D photos and videos 

    Point cloud data 

    Volume data 

    Computational fluid dynamics (CFD) 

    Computer Aided Design (CAD) 

    Molecular dynamics 

    Linux CAVE node 

    Windows 10 CAVE node 

    CAVE wall 

    Stereo glasses 

    Audio system 

    Tracking system 

    The Windows node attached to the GRUVE Lab runs middleware software, which enables Unity-developed applications to run in the CAVE. This greatly expands the number of VR applications that can be run. 

    Vrui VR Toolkit-based applications such as LiDAR viewer and 3D visualizer 

    VMD – Visual Molecular Dynamics 

    ParaView 

    COVISE– Collaborative Visualization and Simulation Environment

    The GVIS Lab maintains a large collection of computing, visualization, and user interaction devices including: 

    Virtual reality display devices 

    Head-mounted displays 

    Room-scale CAVE 

    Augmented reality head-mounted displays 

    3D displays 

    Psuedo-3D displays 

    Pepper’s Ghost display 

    Persistence of Vision (POV) LED display 

    Light field technology- based displays 

    Projection devices for projected AR 

    Natural user interface devices 

    Hand gesture recognition devices 

    Motion capture devices 

    Cameras for mixed reality 

    Computing hardware 

    High-end laptops 

    High-end desktops 

    High-end tablets and smartphones 

    Stereo 3D camera 

    180/360 camera 

    Flight simulators 

    3D printers 

    All these devices are available for employees to try and test for possible application to their work. 

    Contact Us 
    Need to reach us? You can send an email directly to the GVIS Team (GRC-DL-GVIS@mail.nasa.gov) or to the team leader, Herb Schilling (hschilling@nasa.gov). 

    MIL OSI USA News –

  • MIL-OSI USA: NASA, JAXA XRISM Satellite X-rays Milky Way’s Sulfur

    Source: NASA

    An international team of scientists have provided an unprecedented tally of elemental sulfur spread between the stars using data from the Japan-led XRISM (X-ray Imaging and Spectroscopy Mission) spacecraft.
    Astronomers used X-rays from two binary star systems to detect sulfur in the interstellar medium, the gas and dust found in the space between stars. It’s the first direct measurement of both sulfur’s gas and solid phases, a unique capability of X-ray spectroscopy, XRISM’s (pronounced “crism”) primary method of studying the cosmos. 
    “Sulfur is important for how cells function in our bodies here on Earth, but we still have a lot of questions about where it’s found out in the universe,” said Lía Corrales, an assistant professor of astronomy at the University of Michigan in Ann Arbor. “Sulfur can easily change from a gas to a solid and back again. The XRISM spacecraft provides the resolution and sensitivity we need to find it in both forms and learn more about where it might be hiding.”
    A paper about these results, led by Corrales, published June 27 in the Publications of the Astronomical Society of Japan. 

    [embedded content]
    Watch to learn how the XRISM (X-ray Imaging and Spectroscopy Mission) satellite took an unprecidented look at our galaxy’s sulfur. XRISM is led by JAXA (Japan Aerospace Exploration Agency) in collaboration with NASA, along with contributions from ESA (European Space Agency).NASA’s Goddard Space Flight Center

    Using ultraviolet light, researchers have found gaseous sulfur in the space between stars. In denser parts of the interstellar medium, such as the molecular clouds where stars and planets are born, this form of sulfur quickly disappears. 
    Scientists assume the sulfur condenses into a solid, either by combining with ice or mixing with other elements. 
    When a doctor performs an X-ray here on Earth, they place the patient between an X-ray source and a detector. Bone and tissue absorb different amounts of the light as it travels through the patient’s body, creating contrast in the detector.
    To study sulfur, Corrales and her team did something similar. 
    They picked a portion of the interstellar medium with the right density — not so thin that all the X-rays would pass through unchanged, but also not so dense that they would all be absorbed.
    Then the team selected a bright X-ray source behind that section of the medium, a binary star system called GX 340+0 located over 35,000 light-years away in the southern constellation Scorpius. 

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Rosen in Las Vegas Sun: Trump’s New Extreme Law Is A Big Betrayal For Southern Nevada

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    LAS VEGAS, NV – This week, U.S. Senator Jacky Rosen (D-NV) penned an op-ed in the Las Vegas Sun highlighting the devastating impacts that Donald Trump’s extreme tax and spending bill will bring to Southern Nevada. With the help of Republicans in Congress, Trump pushed through a bill that will gut access to healthcare services, cut funding for hospitals and food assistance programs, and even harm Nevada’s gaming industry. 
    Las Vegas Sun: Trump’s new extreme law is a big betrayal for Southern Nevada
    By Senator Jacky Rosen
    Key Points: 

    Earlier this month, Republicans in the House and Senate forced through President Donald Trump’s extreme tax and spending law — a devastating betrayal of hardworking Nevadans.
    As one of your U.S. senators, I believe public service is about delivering results that improve people’s lives, and that’s why I am outraged by a law that guts critical programs for hardworking families so Washington Republicans can hand out massive tax breaks to billionaires.
    Thanks to Trump’s One Big Beautiful Bill, which is really a big, ugly betrayal, more than 100,000 people in our state will lose access to affordable health care, and more than a dozen hospitals in Southern Nevada are facing millions of dollars in funding cuts.
    … according to a new report, University Medical Center stands to potentially lose $45 million from this extreme law. When hospitals lose funds, they can be forced to reduce services, hours or even close down, which hurts everyone. 
    By cutting Medicaid, Trump and congressional Republicans are making it harder for every Nevadan, regardless of whether they rely on Medicaid or not, to access the life-saving care they need.
    Trump’s bill also makes major cuts to SNAP — a food assistance program that helps nearly 1 in 6 Nevadans put food on the table. SNAP also funds a significant number of local food banks in our communities that Nevadans rely on to get a meal.
    This extreme law also includes a hidden provision targeting Nevada’s gaming industry. Under this new law, those who lose money playing blackjack, poker or other casino games will now owe taxes on money they lost. You read that right: Nevadans would be forced to pay the government taxes on money they didn’t win. It’s outrageous, and it will hurt our gaming industry — decimating our tourism industry along the way. This month, Sen. Catherine Cortez Masto and I tried to repeal this absurd provision by passing our bipartisan bill to fix it, but Senate Republicans blocked our efforts.
    We should be making life easier for people, ensuring that hardworking families can have a fair shot at living the American dream. It’s not about putting one group over another; it’s about giving people an equal chance at success. That means lowering costs for families and holding big corporations accountable for price gouging; cutting taxes for the middle class and closing loopholes exploited by billionaires; and addressing crises like the lack of affordable housing so everyone can put a roof over their heads without breaking the bank.
    Republicans’ tax and spending law fails every one of these tests. It slashes key lifelines for working people in order to hand out billions to the ultra-wealthy. That is not just bad policy — it’s shameful. As your senator, I will keep fighting to mitigate the harm of this reckless budget. I will work with my colleagues to stand up for Nevada families and push for policies that put people first.
    I urge every Nevadan to stay engaged, speak out and join me in this fight. Together, we can protect our families, defend our communities and keep the promise of the American dream alive for everyone who calls Nevada home.

    MIL OSI USA News –