MIL-OSI New Zealand: Reforms – PSA forces changes to restructure of Data & Digital and Pacific Health

Source: PSA

The PSA has settled litigation over the planned restructure of two key teams at Health NZ with an agreement to significantly amend planned cuts to roles and structures.

The settlement relates to proposed restructures of the Data and Digital and Pacific Health teams at Health New Zealand Te Whatu Ora which were subject to litigation before the Employment Relations Authority set down for 22 April 2025.

“We’re pleased the PSA’s legal action has resulted in a reversal of the some of the planned deep and damaging cuts, but we remain concerned that the cuts across the health system have already gone too far and too wide,” said Fleur Fitzsimons, National Secretary for the Public Service Association for Te Pūkenga Here Tikanga Mahi.

“This is ultimately all about patient care. Both teams play critical roles in ensuring the health system delivers for patients and communities and supports clinicians to do their job, so it was important changes were made.

“But it shouldn’t have taken legal action for Health NZ Te Whatu Ora to listen to what health workers were telling it about the risks to patient care and community health.”

Data and Digital staff ensure clinicians can access patient records 24/7, maintain ageing legacy systems, and are integrating new nationwide IT systems. Health NZ had been planning to almost halve the workforce including not filling hundreds of vacant roles.

“Our legal action has resulted in 175 roles being added back into these teams and for contractor roles to be available to employees and could mean that no staff are forced to be made redundant. This is positive as these people have skills our health system desperately needs.

“We reached a settlement because Health NZ was shedding too many highly skilled IT workers through early exit allowed under the restructure. We had to stop the bleed as these workers were critical to ensuring patient care was not put at risk from IT systems failing.

“While the settlement is welcome, the PSA is disappointed the Privacy Commissioner has refused to investigate cuts to Data and Digital given the risks to sensitive patient information and our concerns remain.”

For Pacific Health, a smaller reduction in the full-time workforce has been agreed with a net 22 roles going compared to 50 in the original proposal though many of the people affected will have priority for similar roles within Heath New Zealand. This is not ideal, but the unions feedback was taken on board including retaining regional partnerships and protecting some crucial administration roles. In addition, some workers, previously facing redundancy, will be redeployed elsewhere in the health system so they can carry on their important work.

“Today’s settlement underscores the value of a union taking on an employer which is following the Government’s direction to cut the health system regardless of the consequences.

“There are still other teams that are subject to restructuring – Health NZ is still under instruction from the Government to cut spending and the PSA is seeking legal advice about filing litigation against these proposals too.

“These constant cuts are not a recipe for a health system that properly delivers the timely and effective health care New Zealanders expect and the PSA will be strongly resisting all further cuts.”

Background on litigation

The PSA filed legal proceedings in the Employment Relations Authority in February because several proposed restructures breached the Code of Good Faith for the public health sector, the Employment Relations Act 2000, collective agreements and Te Mauri o Rongo – NZ Health Charter.

Last month the PSA agreed a settlement with Health NZ stopping the restructuring of the National Public Health Service and two directorates in the Planning Funding and Outcomes business unit – Data and Analytics and Community Mental Health Funding and Investment

Litigation remains in place for two other business units of Planning Funding and Outcomes – Procurement and Supply Chain and Systems Improvement and Innovation.

MIL OSI New Zealand News –

April 23, 2025

MIL-OSI USA: Underwood, Fetterman, Sherrill, Titus, Cherfilus-McCormick Lead Legislation to Improve Access to Contraception

Source: United States House of Representatives – Congresswoman Lauren Underwood (IL-14)

Representatives Lauren Underwood (IL-14), Mikie Sherrill (NJ-11), Dina Titus (NV-01), Sheila Cherfilus-McCormick (FL-20), and Senator John Fetterman (D-PA) introduced the Convenient Contraception Act, legislation that would improve access to contraceptive products, including over-the-counter contraceptives. The bill provides individuals covered by private health coverage with the option to receive a full year of contraception when their prescription is issued—an evidence-based policy that improves health outcomes—instead of the current three-month supply that is standard in many states.

“Expanding access to contraception is a critical part of protecting the health and lives of millions of women who have seen their access to care jeopardized by extreme Republicans’ attacks on reproductive freedom,” said Congresswoman Lauren Underwood. “Contraception is essential health care, and it must remain easily available nationwide.”

“I will always fight to protect a woman’s right to make her own health care decisions. This bill would allow patients to pick up their full prescriptions at once, improving access to contraception by simply making it more convenient,” said Senator John Fetterman. “This is a commonsense solution, and I’m proud to lead this legislation to make contraception access more equitable.”

“I am proud to co-lead this bicameral legislation to ensure women can pick up a full year prescription of contraceptives at once, rather than just three months at a time,” said Congresswoman Mikie Sherill. “As Donald Trump and Washington Republicans take aim at women’s health nationwide, it’s critically important that we continue to push forward in our fight to protect health care, preserve women’s rights and freedoms, and empower women to make their own decisions about their bodies.”

“I’m proud to join Sen. Fetterman and Rep. Underwood in the effort to make contraception more accessible, especially as the GOP continues to attack women’s freedoms from every angle,” said Congresswoman Dina Titus. “Southern Nevadans have made clear for decades that reproductive rights are a top priority, and this commonsense legislation would make a simple but critical fix to expand access and reduce racial disparities in care.”

“The ability to purchase contraception should be seamless and hassle-free, but that hasn’t been the case for far too many women,” said Congresswoman Sheila Cherfilus-McCormick. “The Convenient Contraception Act is a common-sense solution to the financial and logistical hurdles that stand in the way of comprehensive reproductive health care.”

Currently, many health coverage plans require a patient to pick up their contraception prescription multiple times during their prescription, creating an unnecessary burden and increasing the likelihood of gaps in protection. The Convenient Contraception Act requires insurers to permit individuals covered by private health coverage plans to pick up a full-year prescription supply at once and prohibits coverage plans from charging additional costs for a one-year supply.

Removing barriers to contraception can help reduce racial and ethnic disparities in access to care and decrease the likelihood of unintended pregnancies, which have been linked to adverse health effects, including maternal depression, intimate partner violence, low birth weight, and preterm birth.

The Convenient Contraception Act is endorsed by American College of Obstetricians and Gynecologists; Catholics for Choice; Contraceptive Access Initiative; Every Mother Counts; In Our Own Voice: National Black Women’s Reproductive Justice Agenda; MomsRising; NARAL Pro-Choice America; National Council of Jewish Women; National Family Planning & Reproductive Health Association; National Partnership for Women & Families; National Women’s Law Center; Physicians for Reproductive Health; Planned Parenthood Federation of America; Power to Decide; and What to Expect Project.

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MIL OSI USA News –

April 23, 2025

MIL-OSI USA: Golden praises President Trump’s fishing executive order, urges action on unfair Canadian trade and regulatory practices

Source: United States House of Representatives – Congressman Jared Golden (ME-02)

WASHINGTON — Congressman Jared Golden (ME-02) today sent a letter to President Donald Trump highlighting the unfair trade practices and regulatory disparity Canada uses to benefit its lobster industry at the expense of American lobstermen. Golden’s letter follows yesterday’s executive order directing the Secretary of Commerce and U.S. Trade Representative to address regulatory mismanagement informed by scientific uncertainty — a task Golden requested of the administration in a letter just last week and praised last night.

“Throughout my time in the Maine State Legislature and Congress, I have heard from Maine’s seafood harvesters, processors, and those involved in the ocean economy that they cannot make the necessary investments to grow due to overregulation, arbitrary and capricious management, inconsistent policies from various federal agencies, and unfair trade action from Canada,” Golden wrote in his letter today. “Without your intervention, projections indicate that many commercial fishing operations in New England will become economically unviable within the next 30 years. This would lead to the collapse of a historic food production industry, the loss of thousands of jobs, the devastation of coastal communities that have shaped American maritime heritage for centuries, and an increased reliance on foreign food.”

Discussing the unequal regulatory burden between the U.S. and Canada, Golden explained that Canadian lobstermen are not required to follow the same conservation measures, like releasing lobsters over a maximum size, that American lobstermen must. He also cited extensive regulations on American fishing gear and environmental practices that are absent in Canada; this burden is especially visible in the Gray Zone — 277 square miles fished by both Mainers and Canadians that remains one of America’s only contested maritime borders.

Golden equally criticized market manipulation by Canadian seafood processors and expansive subsidies from the Canadian government to undercut the cost of competing American labor.

What they’re saying

“The New England Fishermen’s Stewardship Association (NEFSA) commends Congressman Jared Golden for highlighting the significant disparities faced by American lobstermen compared to their Canadian counterparts in his recent letter to the President. NEFSA has made it a top priority to raise awareness of the longstanding territorial dispute in the Gray Zone and the resulting economic and environmental consequences. Unbalanced regulatory frameworks between the United States and Canada continue to place American fishermen at a disadvantage—both in terms of access to seafood stocks and financial sustainability. We are encouraged by Congressman Golden’s advocacy and remain committed to working collaboratively with him, the White House, and NOAA to address these challenges and secure a fair and equitable future for American fishing communities,” saidDustin Delano, former lobstermen and chief operating officer of the New England Fishermen’s Stewardship Association.

“The Maine Lobstering Union is thrilled President Trump is looking into imbalances in the US fisheries. Maine fishermen have been supporting Maine’s economy for generations. We continue to raise concerns that Canadian trade practices, unequal conservation, and regulations are hurting Maine families, and it is rewarding to see some of that noise is making its way to President Trump. We commend Representative Golden for working across the aisle. Representative Golden continues to deliver on his promise to put Mainers first. Families in Maine are struggling, and putting our state’s needs above all else is very refreshing,” said Virginia Olsen, lobstermen and director of the Maine Lobstering Union.

“The Maine Lobstermen’s Association (MLA) is grateful to President Trump for his commitment to making U.S. fisheries great again by allowing us to do what we do best — go fishing! The MLA has been fighting government over-regulation for years and won a historic court case that challenged draconian whale rules taking a big step forward in ending this abuse of power. The President’s executive order recognizes the challenges our fishing families and communities face and we appreciate the commitment to reduce burdensome regulations and strengthen the competitiveness of American seafood. We especially appreciate the Administration’s commitment to protecting the Maine lobster industry which is vital to the economy of our state and our coastal economies,” saidPatrice McCarron, executive director of the Maine Lobstermen’s Association.

BACKGROUND

Golden, who recently secured a seat on the House Natural Resources Committee, has fought fiercely on behalf of Maine’s fishing industry throughout his career as a lawmaker. In addition to his letter last week, he has pressed multiple administrations on the unequal regulations and unfair trade practices harming Maine lobstermen.

Over the last year he has been the only representative from New England to join the effort to overturn a U.S.-only increase to the minimum catchable size of lobster, and helped pass a 6-year pause on new gear regulations in 2022. His bipartisan Northern Fisheries Heritage Protection Act would also prohibit commercial offshore wind energy development in the critical, highly productive Maine fishing grounds of Lobster Management Area 1 — an issue he has been consistently outspoken on.

Golden’s letter can be found here and is included below in full:

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April 18, 2025

The Honorable Donald J. Trump
President of the United States
The White House
1600 Pennsylvania Avenue
Washington, D.C. 20500

Dear President Trump,

In your executive order on “Restoring American Seafood Competitiveness,” you directed the Secretary of Commerce to consider suspending, revising, or rescinding regulations that overly burden America’s commercial fishing industries and the United States Trade Representative to examine other nations’ trade practices. As part of those investigations, I write in support of swift and decisive action to address the unequal regulatory burden between Maine and Canadian lobstermen and the unfair trade practices used by Canada and its lobster industry at the expense of the American lobster industry.

Throughout my time in the Maine State Legislature and Congress, I have heard from Maine’s seafood harvesters, processors, and those involved in the ocean economy that they cannot make the necessary investments to grow due to overregulation, arbitrary and capricious management, inconsistent policies from various federal agencies, and unfair trade action from Canada. Action to address the unequal regulatory burden between American and Canadian lobstermen and end Canada’s unfair trade practices in the lobster industry is squarely in line with your fisheries executive order and your administration’s “America First Trade Policy.” Any ensuing changes should be made in consultation with those who know the industry best, the harvesters themselves.

The American lobster fishery extends from Maine to Cape Hatteras, North Carolina. In 2022, commercial landings of American lobster totaled 119 million pounds, valued at $515 million, according to the National Oceanic and Atmospheric Administration (NOAA) Fisheries. Maine has been at the forefront of American lobster landings for over three decades, and 93 percent of the coast-wide landings come from the Gulf of Maine lobster stock.

While I have written to your administration and previous administrations extensively about each issue, I want to highlight the following issues:

Unequal Regulatory Burden Between the U.S. and Canada:

Regulations are frustratingly inconsistent between the U.S. and Canada, significantly benefiting Canadian fishermen and actively harming U.S. fishermen. While the long-term viability of lobster stocks is essential for the economic success of American and Canadian harvesters, it is American fishermen and lobstermen who are required to adhere to the strictest conservation standards, whereas Canadian fishermen are not. Below is a list of the top issues causing an uneven regulatory playing field:

Maximum Size Limit: American lobstermen are required to follow a maximum size limit for harvesting lobster, and Canadian lobstermen do not.

Whale Regulations: Since 2001, U.S. lobstermen have been required to comply with whale regulations, including new requirements for gear marking, breakaways, weak ropes, and inserts, as well as changes to trawl length due to the NOAA Atlantic Large Whale Take Reduction Plan. This plan was developed and implemented in response to the Marine Mammal Protection Act despite limited evidence linking Maine fishermen to whale deaths.

These requirements increased costs and safety risks for U.S. fishermen. Canadian lobstermen do not face these same restrictions. For instance, U.S. fishermen must use whale-safe gear, which incurs additional costs, to protect whales that frequently transit through Canadian and American waters. Meanwhile, Canadian fishermen continue to fish with floating rope, which costs nearly 50% less than traditional methods.

If pending federal rules regulating even more restrictive gear requirements are implemented, American fishermen will face an even more significant competitive disadvantage. They would be forced to use untested, less efficient, more expensive equipment, while Canada’s gear would be untouched.

Gray Zone: The 277 square miles of ocean between the U.S. and Canada – commonly referred to as the Gray Zone – have been claimed by both countries since the Revolutionary War. For centuries, the lobstermen and fishermen of Downeast Maine have relied on the Gray Zone to harvest lobster, scallop, and halibut, often competing with their Canadian counterparts who utilize these same fishing grounds.

The disparity between the United States and Canadian fishing regulations in the Gray Zone not only escalates tensions among fishermen but also poses a serious threat to the future of an industry that has supported Maine families for generations. These concerning trends would only worsen if our federal regulators approved a new minimum allowable catch size for lobster starting in July 2025, without comparable restrictions for Canadian lobstermen enforced by their government.

Maine’s seafood harvesters have been waiting too long for a resolution to the Gray Zone, with significant consequences for their safety, businesses, and the natural resources they depend on.

A 2023 Department of State Report written for Congress titled “Progress Toward an Agreement with Canadian Officials Addressing Territorial Disputes and Collecting Fisheries Management Measures in the Gulf of Maine” incorrectly states:

“The status quo benefits the United States by keeping the Gray Zone aligned with the more favorable measures applicable to the broader U.S. lobster management area within which it sits. Current cooperation has proved effective in managing the area. Negotiations to resolve the dispute would require significant dedicated resources. In the absence of a resolution of the territorial dispute, an agreement to resolve differing fisheries management measures in the Gray Zone could impact U.S. claims to sovereignty by creating regulations that differ from those applicable to the broader Gulf of Maine jurisdiction in which the Gray Zone lies.”

The truth is that, as management currently exists, there is no cooperation in managing this area. This report is misleading, and American fishermen fishing in the Gray Zone will tell you that the uneven regulatory burden in the area does not benefit American fishermen; it hurts them.

Environmental Regulations: Canada has considerably fewer environmental regulations compared to U.S. processors. For example, Canadian processors can directly discharge wastewater into the ocean and spread shells in fields. In the U.S., processors must pay thousands of dollars to local municipalities for wastewater user fees and waste disposal.

Unfair Trade Practices Utilized by the Canadian Lobster Industry at the Expense of the American Lobster Industry:

Canadian Subsidies:The Canadian Government uses labor and business subsidies to boost their lobster industry at the expense of the American lobster industry.

Since 1984, the Canada Health Act (CHA) gives all Canadians publicly funded single-payer healthcare insurance. This program gives all Canadian residents reasonable access to medically necessary hospital and physician services without paying out-of-pocket. To highlight the disparity, U.S. fishermen who buy a health insurance plan on HealthCare.gov would pay, on average, $456 per month more for insurance premiums, which is $5,472 per year more than Canadian fishermen.

Canadian single-payer healthcare insurance also creates an impact on unemployment premiums. Under the Canadian system, workers’ compensation largely drives costs through lost earnings and wage-loss benefits. This causes U.S. fishermen to pay higher unemployment premiums. This distinction comes from their healthcare system, which incurs fewer administrative expenses and lower healthcare costs that affect an employer’s experience rating.

The Canadian lobster industry also has access to unlimited foreign labor and, as a result, low-wage workers. They provide salary subsidies covering up to 60% of the salary for immigrants or visible minority hires, up to a maximum equivalent to the current minimum wage of 40 hours per week. The Canadian government also makes major investments in training programs for the workforce and worker subsidy initiatives. For instance, their Summer Jobs wage subsidy offers financial support for summer employment and visas for foreign workers through the Temporary Foreign Workers Program (TFWP) allows Canadian processors to bring unlimited overseas workers during peak seasons to fill labor shortages.

Canada also utilizes infrastructure, innovation, and business operation subsidies to boost their lobster industry at the expense of the American industry. Through the Atlantic Fisheries Fund (AFF) and Quebec Fisheries Fund (QFF), Canadian fisheries receive substantial subsidies to support their infrastructure, innovation, and businessoperations. The AFF and QFF are financed 70% by the federal government and 30% by the provincial governments. They are managed by the Canada Department of Fisheries and Oceans (DFO), which aims to enhance opportunities and market value for sustainably sourced, high-quality fish and seafood products from Atlantic Canada. A recent announcement from the Canadian DFO indicated that it will invest over $400 million over seven years to support Canada’s fish and seafood sector. In the US, industry-based and driven science partnerships are limited and frequently funded by the industry.

Market manipulation: Canadian processors are engaging in currency arbitrage and exploiting market conditions. For instance, in the U.S., we pay roughly $20 per hour at our processing plants. Canada pays the same $20 per hour. Canadian processors factor the hourly wage into the production of processed lobster. They produce the product in Canada and then sell it back to the U.S. The exchange rate does not favor U.S. processors because of the strength of the U.S. dollar, which makes imports to the U.S. cheaper and exports more expensive.

Without your intervention, projections indicate that many commercial fishing operations in New England will become economically unviable within the next 30 years. This would lead to the collapse of a historic food production industry, the loss of thousands of jobs, the devastation of coastal communities that have shaped American maritime heritage for centuries, and an increased reliance on foreign food. Addressing the unequal regulatory burden and unfair Canadian fishing and trade practices aligns strongly with your executive order on restoring America’s seafood competitiveness and America First Trade Policy and would ensure that American workers and businesses can compete on a level playing field.

The United States should take all necessary steps to ensure that our fishermen and processors do not face a competitive disadvantage or miss out on economic opportunities because of unequal regulatory burden and unfair fishing and trade practices by Canada. I urge you to investigate Canada’s unfair trade and fishing practices and work with the American lobster industry to intervene with solutions to level the playing field.

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MIL OSI USA News –

April 23, 2025

MIL-OSI USA: Senator Hassan Calls Out HHS Secretary Kennedy for Hiring Fraudster to Relitigate Long-Disproven Theories

US Senate News:

Source: United States Senator for New Hampshire Maggie Hassan

WASHINGTON – U.S. Senator Maggie Hassan (D-NH) is calling out Health and Human Services Secretary Robert F. Kennedy, Jr.’s reported decision to hire David Geier, an individual with a history of practicing medicine without a license, to relitigate long-disproven links between vaccines and autism.

Senator Hassan is urging Secretary Kennedy to fire Mr. Geier and to invest in the work of qualified scientists at HHS who are advancing research on autism rather than waste taxpayer dollars by hiring fraudsters like Mr. Geier to push baseless theories. Senator Hassan’s push comes as Secretary Kennedy held an event last Wednesday about the importance of finding the cause of autism – during which he made disparaging comments about children with autism – despite the fact that the Trump Administration is actively defunding the health research that has built years of expertise and evidence towards better understanding autism.

“David Geier has directly endangered the lives of children, and he does not belong at a government agency that oversees the health of more than 70 million American children,” wrote Senator Hassan. “David Geier was disciplined by the State of Maryland in 2012 for endangering children’s health by falsely diagnosing and treating medical conditions in children with autism without a medical license.”

“You have reportedly selected David Geier to lead a scientific study relitigating a baseless link between vaccines and autism. Mr. Geier has no qualifications to lead such a study, and decades of rigorous scientific research – studies that have included more than one million children – have shown again and again that childhood vaccines and autism are not linked,” Senator Hassan continued.

“As you hire David Geier, the United States is facing a growing measles outbreak that has sickened nearly 500 children and led to dozens being hospitalized,” Senator Hassan emphasized. “To protect the health of children, and to abide by your stated goals of advancing gold-standard science, I urge you to terminate Mr. Geier’s employment.”

Click here to see the full letter or see text below:

Dear Secretary Kennedy:

I write to express my grave concern regarding your decision to hire David Geier, a vaccine cynic and fraudster, to study a long-debunked theory that vaccines are linked to autism. Mr. Geier not only lacks any scientific qualifications, but he has a track record of harming children and manipulating data to fit his disproven conspiracy theories about vaccine safety. I urge you to protect the health of children in the United States and immediately remove this individual from the Department.

David Geier has directly endangered the lives of children, and he does not belong at a government agency that oversees the health of more than 70 million American children. David Geier was disciplined by the State of Maryland in 2012 for endangering children’s health by falsely diagnosing and treating medical conditions in children with autism without a medical license. David Geier’s father, Dr. Mark Geier, was previously a doctor in Maryland and lost his medical license after parents reported that both Geiers were endangering children with autism by administering quack treatments that were not evidence-based. For example, the Geiers administered a potent medication called Lupron, a testosterone-suppressant approved for prostate cancer and ovarian fibroids, to children with autism, despite these children having no diagnosed conditions that would necessitate this treatment. In other instances, David Geier – who has no medical license or scientific training – performed an ultrasound on a child, falsified medical diagnoses, and ordered more than 20 blood tests for a child.

You have reportedly selected David Geier to lead a scientific study relitigating a baseless link between vaccines and autism. Mr. Geier has no qualifications to lead such a study, and decades of rigorous scientific research – studies that have included more than one million children – have shown again and again that childhood vaccines and autism are not linked. Decades of scientific studies supported by the NIH suggest that both genetic factors and environmental factors may contribute to childhood autism. I urge you to continue investing in this promising research, and to not waste taxpayer dollars to advance Mr. Geier’s pre-conceived conspiracy theories about vaccines.

As you hire David Geier, the United States is facing a growing measles outbreak that has sickened nearly 500 children and led to dozens being hospitalized. Based on decades of research and scientific consensus, medical professionals recommend the MMR vaccine to provide children with strong protection from measles infection. To protect the health of children, and to abide by your stated goals of advancing gold-standard science, I urge you to terminate Mr. Geier’s employment.

MIL OSI USA News –

April 23, 2025

MIL-OSI United Kingdom: Breakthrough in bowel cancer research will speed up diagnosis

Source: United Kingdom – Executive Government & Departments

Press release

Breakthrough in bowel cancer research will speed up diagnosis

Government backs world-leading trial of cutting-edge technology to diagnose bowel cancer earlier, harnessing the power of technology to treat patients.

Patients could soon benefit from world-leading technology to diagnose bowel cancer earlier, faster and cheaper, reducing the need for invasive colonoscopies and biopsies, and potentially saving valuable time and resource for the NHS, the government has announced today (Wednesday 23rd April).

The technology, made on British soil by Xgenera, in collaboration with the University of Southampton, has the potential to detect bowel cancer earlier, improving diagnosis rates, and offering patients valuable time back to treat the disease faster and more effectively.

Bowel cancer is the UK’s fourth most common cancer, with over 42,000 people diagnosed each year. Early diagnosis is crucial, with 9 in 10 people surviving bowel cancer when it’s detected at stage 1, compared to just 1 in 10 when diagnosed at stage 4.

This government is driving forward improvements to cancer care through the Plan for Change to fix our NHS – including by improving waiting times for lower gastrointestinal diagnosis. From July 2024 to February 2025, 76.6% of patients have received their cancer diagnosis or all clear within 28 days, an increase of 4ppt compared to the previous year.

Today’s announcement comes as the Health and Social Care Secretary is set to visit a research lab funded by Cancer Research UK, which has been renamed in memory of campaigner Dame Deborah James.

The BowelBabe Laboratory will bring together leading scientists to advance our understanding of bowel cancer. It will conduct cutting-edge research and will aid in the development of new treatments for bowel cancer.

Secretary of State for Health and Social Care, Wes Streeting, said:

From my own experience, I know the devastating toll cancer can take on patients and families, and how many of them have been faced with long waiting lists to get the diagnosis and treatment they deserve.

We know that the key to surviving cancer is catching it as early as possible, so this government is taking the urgent action needed to make sure that happens through our Plan for Change, from developing world leading technology to detect bowel cancer earlier, through to setting up hubs for the UK’s top scientists to research and treat the disease.

Dame Deborah James dedicated her life to raising awareness for cancer and finding ways that we can beat it, so it is only right that we honour her legacy by investing in research to help stop one of the country’s biggest killers.

And research is only one part of the work we’re doing. Our National Cancer Plan will transform cancer so patients can get the latest treatments and technology, ultimately bringing this country’s cancer survival rates back up to some of the best in the world.

Professor Lucy Chappell, Chief Scientific Adviser at the Department of Health and Social Care (DHSC) and Chief Executive Officer of the NIHR said:

Innovations such as the mIONCO-Dx blood test offer an exciting new era in cancer detection with the potential for quicker, easier and more effective ways to detect cancers before they become more difficult to treat.

The NIHR is supporting initiatives such as these, utilising the latest technologies such as AI, to provide patients and the public with timely, accurate and easily accessible options. Supporting the UK’s thriving life sciences sector is key to seeing these strides in diagnosis and early prevention.

In collaboration with the National Institute for Health and Care Research (NIHR), the government has awarded £2.4m to progress the development of the AI-driven blood test, known as miONCO-Dx. The test was developed on data from over 20,000 patients and has since been translated into a cheaper, faster and more scalable solution, marking a significant step forward. This new solution will be assessed in a clinical trial of 8,000 patients, giving a formal and significant step towards bringing the test closer to patients by ensuring it is fit for purpose in the NHS.

The test works by measuring the microRNA in a blood sample and using AI to identify if cancer is present and if so, where it is located in the body. Initial tests have produced promising results, having shown that it is able to detect 12 of the most lethal and common cancers, including bowel cancer, at an early stage, with over 99% accuracy. With no other trial currently working in the same way, this a world-leader and will support in placing Britain at the forefront of revolutionising healthcare.

The simple blood test will be able to identify cancer earlier, where treatment is not only more effective, but also cheaper and easier, potentially freeing up valuable NHS resources and staffing time in the long run.

Bowel cancer can be difficult to detect in the early stages, and survivability drops significantly as the disease progresses, as treatment options become more limited. Investing in technologies that can support experts to detect cancer early, such as the miONCO-Dx, is an essential first step in reducing the lives lost by cancer.

Michelle Mitchell, chief executive of Cancer Research UK, said

Bowel cancer is the second biggest cause of cancer deaths in the UK. I’m delighted to welcome the Health Secretary, Wes Streeting, to the Bowelbabe Laboratory and show him the cutting-edge research being carried out in the name of the inspirational Dame Deborah James. She touched the lives of so many, and her legacy is supporting people affected by bowel cancer across the country.

This NIHR trial shows the importance of research and the impact new technology and developments could have. The upcoming National Cancer Plan for England is an opportunity for the UK Government to improve the lives of not just bowel cancer patients, but all cancer patients. We will continue to work with them on this.

Professor Sir Stephen Powis, NHS national medical director, said:

This blood test has the potential to help us detect bowel cancer earlier and reduce the need for invasive tests, and the next step in this trial will now be vital in gathering further evidence on its effectiveness and how it could work in practice.

Dame Deborah James was a tireless and inspirational campaigner who helped change the national conversation on bowel cancer – it’s fitting that this lab in her name will drive forward research that could help thousands more people survive the disease.

Science and Technology Secretary Peter Kyle said:

Bowel cancer has brought heartbreak to too many families across the country. But working in partnership with the NHS, researchers, and business, we can harness AI to overhaul how we detect and treat this horrendous disease. This new method is less invasive and will help with earlier detection which means keeping more families together for longer.

Our support for cancer research will unlock more innovation and make vital work like that of the BowelBabe Research Lab possible. All of this will help us build a better NHS as part of our Plan for Change.

Fighting cancer on all fronts, from diagnosis, research, prevention and treatment, is a key commitment made by the government. Earlier this year, the government launched a call for evidence for the National Cancer Plan, designed to improve patient experience to fight cancer.

This forms part of the wider strategy to reduce lives lost to the biggest killers across the UK, with investment in AI and innovative technologies helping to speed up diagnosis and improve treatment.

As part of its Plan for Change, the government will transform the NHS and is already seeing results – with waiting lists falling by over 200,000 since July last year.

Published 23 April 2025

MIL OSI United Kingdom –

April 23, 2025

MIL-OSI Security: Flag Writer Recognized as 2025 Senior Sailor of the Year

Source: United States Navy (Medical)

Yeoman 1st Class Joseph Hunt, a native of Surveyor, West Virginia, was announced as the U.S. Navy Bureau of Medicine and Surgery’s Senior Sailor of the Year (SSOY), Fiscal Year 2025, at Defense Health Headquarters, April 14, 2025.

MIL Security OSI –

April 23, 2025

MIL-OSI New Zealand: ECE sector review changes begin

Source: New Zealand Government

Regulation Minister David Seymour has today provided an update on the implementation of the Early Childhood Education (ECE) regulatory review.
“This review and the changes announced today show the power of a sector review. The Ministry for Regulation went in and listened to the people who actually run, work at, and use early childhood regulation. They found people encircled by multiple regulators enforcing out of date rules, and proposed solutions now being put into action,” Mr Seymour says.
“By the end of next year ECE providers will be governed by a regulatory system which ensures regulations are focused on what matters, child safety.

Cabinet has agreed to 15 changes which modernise and simplify regulations across ECE. Services will be able to get on with what they do best – providing safe, high-quality care and education as the changes are rolled out over the coming year.
“Part of the change will involve amending laws in Parliament. The Education and Training (Early Childhood Education Reform) Amendment Bill will action many of these changes. The bill will be introduced in July, and I expect it to be passed by the end of the year,” Mr Seymour says.
“The biggest complaint arises from the calcified, high stakes licencing criteria – 98 of them – that can each have a centre shut down with little to no notice. New licensing criteria will be gazetted by the end of September, following the recommendation to change or merge approximately three-quarters of the licensing criteria. Consultation will begin shortly to test the precise changes.
“By mid next year, graduated enforcement tools will be used to respond to breaches of the remaining licensing criteria. The only enforcement tools previously available were the granting or removal of ECE licenses, which is too blunt a tool for managing minor breaches and enabling early intervention. There will no longer be high-stakes open-or-shut rules that create anxiety and strained relationships for regulators and centre operators alike.”
Graduated enforcement will give the regulator a range of enforcement measures. They will be able to respond proportionately to breaches, changing the sector’s culture from a punitive approach to promoting quality.
“The implementation of the recommendations represents a major shakeup of the sector’s outdated system. It is a great result for children, parents and ECE service providers,” Mr Seymour says.
“The changes will reduce unnecessary compliance costs, remove duplication, and streamline operational requirements. ECE providers will no longer be burdened with 98 separate licensing criteria, many of which were arbitrary or outdated, such as requirements to:

⁠maintain a constant indoor temperature of 18 degrees, when common sense says a minor deviation from 18 degrees won’t hurt anyone, and
⁠hold immunisation records for every child over 15 months, which the Ministry of Health already does.

“This will encourage more providers into a thriving market with reduced operation costs and compliance headaches. For parents this will mean more safe and affordable ECE options for their children.
“As part of its comprehensive review, the Ministry for Regulation analysed over 2,300 submissions and written feedback, met with parents and caregivers, providers and workers, visited 16 ECE services, and conducted a series of structured interviews and workshops with other agencies that engage with or regulate the sector. Thank you to the thousands of people who contributed their views.
“This is just the beginning. The Ministry is now helping the agriculture and horticulture sector implement sector review findings, and progressing sector reviews into the hairdressing and barbering, and the telecommunications sector. They’re also working closely with the industrial hemp industry and others who’ve come forward through our red tape tipline.
“In a high-cost economy, regulation isn’t neutral. It’s a tax on growth. Every completed review makes it easier to do business, access services, and innovate in New Zealand. The ECE review is the first of many examples of what smarter regulation looks like in action.”
Link to report: https://www.regulation.govt.nz/about-us/our-publications/regulatory-review-of-early-childhood-education-full-report/
Link to report summary: https://www.regulation.govt.nz/about-us/our-publications/regulatory-review-of-early-childhood-education-summary/

MIL OSI New Zealand News –

April 23, 2025

MIL-OSI USA: WSGS and USGS collaborate on new airborne mineral survey in southeastern Wyoming

Source: US Geological Survey

Editor: In the public interest and in accordance with Federal Aviation Administration regulations, the USGS is announcing this low-level airborne project. Your assistance in informing the local communities is appreciated.

Focused on the Shirley Mountains and Hartville Uplift areas—regions known for mineralization but limited by existing geophysical data—the survey aims to improve understanding of subsurface geology and better target areas of critical mineral interest for future mapping and research.

“Baseline, high-quality geophysical data have become essential for modern geologic investigations,” said Erin Campbell, WSGS Director and Wyoming State Geologist. “These surveys help identify hidden structures and features that could point to valuable resources and guide ongoing research across Wyoming’s mineral-rich terrains.”

“WSGS is a key partner as USGS leads national efforts to map the critical minerals needed to drive the U.S. economy and national security, and expand our knowledge of the nation’s geologic framework. Wyoming produced $622 million in nonfuel mineral commodities in 2024, eighth-most in the nation. Expanding knowledge of the state’s subsurface geology could grow the state’s mining sector,” said Jamey Jones, science coordinator of the USGS Earth Mapping Resources Initiative.

The survey will acquire both magnetic and radiometric data across two regions. The western block includes Pathfinder Reservoir, the Shirley and Freezout mountains, and the western part of Casper Mountain. The eastern block covers the Hartville Uplift, stretching from near Wheatland to north of Lusk.

Mineral commodities of interest for the survey include cobalt, nickel, rare earth elements, platinum group elements, and graphite, all on the List of Critical Minerals maintained by the USGS as essential to the U.S. economy and national security, and vulnerable to supply chain disruption. Uranium and a wide range of other strategic materials are also present. The data may also help resolve open questions about regional tectonics and the evolution of major structural features through the Miocene.

“More than 30 percent of the state’s biennium budget is derived from mineral severance tax and federal mineral royalties, according to the January 2025 Consensus Revenue Estimating Group’s forecast for Wyoming revenue,” said Campbell. “Wyoming has taken a proactive approach to ensure future investment from the mineral industry. With the completion of this and other ongoing geophysical surveys, more than 20 percent of Wyoming, or 19,300 square miles, will be covered by the highest-quality magnetic and radiometric data, which will galvanize mineral exploration.”

Survey aircraft—both helicopters and fixed-wing planes—will collect data along closely spaced flight lines at a nominal elevation of about 300 feet (100 meters). The magnetic component of the survey detects variations in the Earth’s magnetic field that reveal subsurface structures up to a kilometer deep, or about 3,000 feet. Radiometric sensors measure natural radiation to help map the distribution of potassium, thorium, and uranium near the surface.

The survey will use aircraft equipped with an elongated “stinger” mounted to either the tail extending backward off the aircraft (fixed wing), or landing skid (helicopter) extending forward off the aircraft. The scientific instruments on the aircraft are completely passive, with no emissions that pose a risk to humans, animals, or plant life. No photography or video data will be collected. The data collected will be made freely available to the public once complete. The aircraft will be flown by experienced pilots who are specially trained and approved for low-level flying. The company contracted to fly the survey works with the FAA to ensure flights are safe and in accordance with U.S. law. The surveys will be conducted during daylight hours only.

This new dataset will bridge existing geophysical surveys in the Laramie Mountains, South Pass–Granite Mountains, Sierra Madre, and Medicine Bow Mountains. It will also provide insight into complex geologic features along the Cheyenne Belt—a key boundary between the Archean Wyoming Province and younger Proterozoic rocks—long recognized for its mineral potential.

“These regions host a variety of mineral systems, including mafic magmatic, polymetallic, and rare earth element deposits,” said Patty Webber, a geologist with the WSGS. “With the addition of high-resolution geophysics, we can begin to better understand the full scope of resource potential across this structurally complex corridor.”

Following data acquisition, the WSGS and its partners will analyze and interpret the results in combination with field mapping, subsurface modeling, and other techniques to better assess mineral potential and geologic history.

Earth MRI is a nationwide partnership between the USGS and state geological surveys aimed at mapping critical minerals, and modernizing geologic data with benefits for hazard reduction and water availability. The program has supported multiple airborne geophysical efforts in Wyoming in recent years.

To learn more about Earth MRI efforts in Wyoming and across the U.S., visit the Earth MRI Acquisitions Viewer

Figure 2: Fixed wing survey aircraft to be flown at low altitudes over Area A. Courtesy Precision GeoSurveys Inc.

Figure 3: Helicopter survey aircraft to be flown at low altitudes over Area B. Courtesy Precision GeoSurveys Inc.

MIL OSI USA News –

April 23, 2025

MIL-OSI: Timberland Bancorp Reports Second Fiscal Quarter Net Income of $6.76 Million

Source: GlobeNewswire (MIL-OSI)

Quarterly EPS Increases 21% to $0.85 from $0.70 One Year Ago
Quarterly Net Interest Margin Increases to 3.79%
Quarterly Return on Average Assets of 1.43%
Quarterly Return on Average Equity of 10.95%
Announces a 4% Increase in the Quarterly Cash Dividend

HOQUIAM, Wash., April 22, 2025 (GLOBE NEWSWIRE) — Timberland Bancorp, Inc. (NASDAQ: TSBK) (“Timberland” or “the Company”), the holding company for Timberland Bank (the “Bank”), today reported net income of $6.76 million, or $0.85 per diluted common share for the quarter ended March 31, 2025. This compares to net income of $6.86 million, or $0.86 per diluted common share for the preceding quarter and $5.71 million, or $0.70 per diluted common share, for the comparable quarter one year ago.

For the first six months of fiscal 2025, Timberland’s net income increased 13% to $13.62 million, or $1.71 per diluted common share, from $12.00 million, or $1.47 per diluted common share for the first six months of fiscal 2024.

“Our second fiscal quarter operating results were strong, highlighted by net interest margin expansion and modest balance sheet growth,” stated Dean Brydon, Chief Executive Officer. “Second fiscal quarter net income and earnings per share increased 18% and 21%, respectively, compared to the second fiscal quarter a year ago, reflecting an improvement in our net interest margin. Compared to the prior quarter, net income and earnings per share decreased 2% and 1%, respectively, as the increase in net interest income was offset by a higher provision for credit losses and a modest increase in expenses. All profitability metrics improved compared to the year ago quarter, and tangible book value per share (non-GAAP) continued to trend upward.”

“As a result of Timberland’s solid earnings and strong capital position, our Board of Directors announced a 4% increase to the quarterly cash dividend to shareholders to $0.26 per share, payable on May 23, 2025, to shareholders of record on May 9, 2025,” stated Jonathan Fischer, President and Chief Operating Officer. “This represents the 50th consecutive quarter Timberland will have paid a cash dividend.”

“During the second fiscal quarter our net interest margin continued to improve, expanding 15 basis points to 3.79%, compared to the preceding quarter,” said Marci Basich, Chief Financial Officer. “The improvement was primarily driven by a reduction in funding costs as the weighted average cost of interest-bearing liabilities decreased by 15 basis points during the quarter. Total deposits increased $20 million, or 1% during the quarter, due to increases in checking and certificates of deposit account balances.”

“The loan portfolio continues to grow at a moderate pace, increasing 1% from the prior quarter and 4% year-over year,” Brydon continued. “We continue to monitor credit quality closely and saw improvements in several metrics during the quarter. The non-performing asset ratio improved to just 13 basis points, non-accrual loans decreased by 15%, and net charge-offs were less than $1,000 during the quarter. However, we experienced an increase in loans graded “Substandard”, as two loans related to one borrowing relationship were downgraded. Both of the loans are performing and Timberland remains well collateralized based on recent appraisals, but the loans were downgraded primarily because the borrower is experiencing a legal issue stemming from an unrelated project. We view this as an isolated event, and remain encouraged by the overall strength of our loan portfolio.”

Earnings and Balance Sheet Highlights (at or for the periods ended March 31, 2025, compared to March 31, 2024, or December 31, 2024):

Earnings Highlights:

Earnings per diluted common share (“EPS”) decreased 1% to $0.85 for the current quarter from $0.86 for the preceding quarter and increased 21% from $0.70 for the comparable quarter one year ago; EPS increased 16% to $1.71 for the first six months of fiscal 2025 from $1.47 for the first six months of fiscal 2024;
Net income decreased 2% to $6.76 million for the current quarter from $6.86 million for the preceding quarter and increased 18% from $5.71 million for the comparable quarter one year ago; Net income increased 13% to $13.62 million for the first six months of fiscal 2025 from $12.00 million for the first six months of fiscal 2024;
Return on average equity (“ROE”) and return on average assets (“ROA”) for the current quarter were 10.95% and 1.43%, respectively;
Net interest margin (“NIM”) for the current quarter expanded to 3.79% from 3.64% for the preceding quarter and 3.48% for the comparable quarter one year ago; and
The efficiency ratio for the current quarter improved to 56.25% from 56.27% for the preceding quarter and 60.22% for the comparable quarter one year ago.

Balance Sheet Highlights:

Total assets increased 1% from the prior quarter and increased 1% year-over-year;
Net loans receivable increased 1% from the prior quarter and increased 4% year-over-year;
Total deposits increased 1% from the prior quarter and increased 1% year-over-year;
Total shareholders’ equity increased 1% from the prior quarter and increased 6% year-over-year; 61,764 shares of common stock were repurchased during the current quarter for $1.91 million;
Non-performing assets to total assets ratio improved to 0.13% at March 31, 2025 compared to 0.16% at December 31, 2024 and 0.19% at March 31, 2024;
Book and tangible book (non-GAAP) values per common share increased to $31.95 and $29.99, respectively, at March 31, 2025; and
Liquidity (both on-balance sheet and off-balance sheet) remained strong at March 31, 2025 with only $20 million in borrowings and additional secured borrowing line capacity of $675 million available through the Federal Home Loan Bank (“FHLB”) and the Federal Reserve.

Operating Results

Operating revenue (net interest income before the provision for credit losses plus non-interest income) for the current quarter increased 1% to $19.90 million from $19.67 million for the preceding quarter and increased 9% from $18.25 million for the comparable quarter one year ago. The increase in operating revenue compared to the preceding quarter was primarily due to a decrease in funding costs, which was partially offset by a decrease in total interest and dividend income. Operating revenue increased 7%, to $39.57 million for the first six months of fiscal 2025 from $37.05 million for the first six months of fiscal 2024, primarily due to increases in interest income from loans and interest-bearing deposits in banks, which was partially offset by an increase in funding costs and a decrease in interest income on investment securities.

Net interest income increased $243,000, or 1%, to $17.21 million for the current quarter from $16.97 million for the preceding quarter and increased $1.58 million, or 10%, from $15.64 million for the comparable quarter one year ago. The increase in net interest income compared to the preceding quarter was primarily due to a 15 basis point decrease in the weighted average cost of total interest-bearing liabilities to 2.47% from 2.62% and a six basis point increase in the weighted average yield on total interest-earning assets to 5.48% from 5.42%. These increases to net interest income were partially offset by an $11.44 million decrease in the average balance of total interest-earning assets. Timberland’s NIM for the current quarter expanded to 3.79% from 3.64% for the preceding quarter and 3.48% for the comparable quarter one year ago. The NIM for the current quarter was increased by approximately five basis points due to the collection of $201,000 in pre-payment penalties, non-accrual interest, and late fees and the accretion of $17,000 of the fair value discount on acquired loans. The NIM for the preceding quarter was increased by approximately three basis points due to the collection of $115,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $8,000 of the fair value discount on acquired loans. The NIM for the comparable quarter one year ago was increased by approximately three basis points due to the collection of $90,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $10,000 of the fair value discount on acquired loans. Net interest income for the first six months of fiscal 2025 increased $2.54 million, or 8%, to $34.18 million from $31.64 million for the first six months of fiscal 2024, primarily due to a $55.11 million increase in the average balance of total interest-earning assets and a 34 basis point increase in the weighted average yield of total interest-earning assets to 5.44% from 5.10%. These increases to net interest income were partially offset by an 18 basis point increase in the weighted average cost of interest-bearing liabilities to 2.55% from 2.37%. Timberland’s NIM expanded to 3.71% for the first six months of fiscal 2025 from 3.53% for the first six months of fiscal 2024.

A $237,000 provision for credit losses on loans was recorded for the quarter ended March 31, 2025. The provision was primarily due to loan portfolio growth and changes in the composition of the loan portfolio. This compares to a $52,000 provision for credit losses on loans for the preceding quarter and a $166,000 provision for credit losses on loans for the comparable quarter one year ago. In addition, a $14,000 provision for credit losses on unfunded commitments and a $5,000 recapture of credit losses on investment securities were recorded for the current quarter.

Non-interest income decreased $10,000, (less than 1%) to $2.69 million for the current quarter from $2.70 million for the preceding quarter and increased $72,000, or 3%, from $2.62 million for the comparable quarter one year ago. The decrease in non-interest income compared to the preceding quarter was primarily due to a decrease in ATM and debit card interchange transaction fees and smaller changes in several other categories, which was partially offset by an increase in gain on sales of loans and smaller changes in several other categories. Fiscal year-to-date non-interest income decreased by 1%, to $5.38 million from $5.41 million for the first six months of fiscal 2024.

Total operating (non-interest) expenses for the current quarter increased $127,000, or 1%, to $11.19 million from $11.07 million for the preceding quarter and increased $203,000, or 2%, from $10.99 million for the comparable quarter one year ago. The increase in operating expenses compared to the preceding quarter was primarily due to increases in premises and equipment expenses, professional fees and smaller increases in several other expense categories. These increases were partially offset by decreases in salaries and employee benefits and smaller decreases in several other expense categories. The efficiency ratio for the current quarter was 56.25% compared to 56.27% for the preceding quarter and 60.22% for the comparable quarter one year ago. Fiscal year-to-date operating expenses increased 3% to $22.26 million from $21.62 million for the first six months of fiscal 2024.

The provision for income taxes for the current quarter decreased $8,000, or less than 1%, to $1.71 million from $1.71 million for the preceding quarter, primarily due to lower taxable income. Timberland’s effective income tax rate was 20.2% for the quarter ended March 31, 2025, compared to 20.0% for the quarter ended December 31, 2024 and 20.5% for the quarter ended March 31, 2024. Timberland’s effective income tax rate was 20.1% for the first six months of fiscal 2025 and fiscal 2024.

Balance Sheet Management

Total assets increased $23.25 million, or 1%, during the quarter to $1.93 billion at March 31, 2025 from $1.91 billion at December 31, 2024 and increased $25.50 million, or 1%, from $1.91 billion one year ago. The increase during the current quarter was primarily due to a $27.14 million increase in total cash and cash equivalents, an $8.26 million increase in net loans receivable and smaller increases in several other categories. These increases were partially offset by a $7.42 million decrease in investment securities and smaller decreases in several other categories.

Liquidity

Timberland has continued to maintain a strong liquidity position, both on-balance sheet and off-balance sheet. Liquidity, as measured by the sum of cash and cash equivalents, CDs held for investment, and available for sale investment securities, was 16.9% of total liabilities at March 31, 2025, compared to 15.0% at December 31, 2024, and 15.2% one year ago. Timberland had secured borrowing line capacity of $675 million available through the FHLB and the Federal Reserve at March 31, 2025. With a strong and diversified deposit base, only 18% of Timberland’s deposits were uninsured or uncollateralized at March 31, 2025. (Note: This calculation excludes public deposits that are fully collateralized.)

Loans

Net loans receivable increased $8.26 million, or 1%, during the quarter to $1.42 billion at March 31, 2025 from $1.41 billion at December 31, 2024. This increase was primarily due to a $10.31 million decrease in the undisbursed portion of construction loans in process, an $8.98 million increase in one- to four-family loans and a $5.19 million increase in commercial real estate loans. These increases were partially offset by a $12.57 million decrease in construction loans and smaller decreases in several other loan categories.

Loan Portfolio
($ in thousands)

	March 31, 2025				December 31, 2024					March 31, 2024
	Amount			Percent	Amount			Percent		Amount			Percent
Mortgage loans:
One- to four-family (a)	$	315,421		21%	$	306,443		20%		$	276,433		19%
Multi-family		178,590		12		177,861		12			167,275		12
Commercial		602,248		40		597,054		39			577,373		40
Construction – custom and
owner/builder		114,401		7		124,104			8		122,988		8
Construction – speculative one-to four-family		9,791		1		8,887		1			16,407		1
Construction – commercial		22,352		1		22,841		2			32,318		2
Construction – multi-family		46,602		3		48,940		3			36,795		3
Construction – land
development		15,032		1		15,977		1			16,051		1
Land		32,301		2		30,538		2			31,821		2
Total mortgage loans		1,336,738		88		1,332,645		88			1,277,461		88

Consumer loans:
Home equity and second
mortgage		47,458		3		48,851		3			42,357		3
Other		2,375		—		2,889		—			2,925		—
Total consumer loans		49,833		3		51,740		3			45,282		3

Commercial loans:
Commercial business loans		131,243		9		135,312		9			135,505		9
SBA PPP loans		156		—		204		—			367		—
Total commercial loans		131,399		9		135,516		9			135,872		9
Total loans		1,517,970		100%		1,519,901		100%			1,458,615		100%
Less:
Undisbursed portion of
construction loans in
process		(75,042	)			(85,350	)				(77,502	)
Deferred loan origination
fees		(5,329	)			(5,444	)				(5,179	)
Allowance for credit losses		(17,525	)			(17,288	)				(16,818	)
Total loans receivable, net	$	1,420,074			$	1,411,819				$	1,359,116

_______________________
(a) Does not include one- to four-family loans held for sale totaling $1,151, $411, and $1,311 at March 31, 2025, December 31, 2024, and March 31, 2024, respectively.

The following table provides a breakdown of commercial real estate (“CRE”) mortgage loans by collateral type as of March 31, 2025:

CRE Loan Portfolio Breakdown by Collateral
($ in thousands)

Collateral Type	Balance		Percent of CRE Portfolio	Percent of Total Loan Portfolio	Average Balance Per Loan		Non- Accrual
Industrial warehouse	$	127,898	21%	8%	$	1,255	$	163
Medical/dental offices		84,013	14	5		1,254		—
Office buildings		68,239	11	5		784		—
Other retail buildings		53,121	9	3		553		—
Mini-storage		32,596	5	2		1,358		—
Hotel/motel		31,967	5	2		2,664		—
Restaurants		27,374	5	2		582		161
Gas stations/conv. stores		24,622	4	2		1,026		—
Churches		14,823	3	1		988		—
Nursing homes		13,606	2	1		2,268		—
Shopping centers		10,578	2	1		1,762		—
Mobile home parks		8,968	2	1		448		—
Additional CRE		104,443	17	7		762		—
Total CRE	$	602,248	100%	40%	$	938	$	324

Timberland originated $56.76 million in loans during the quarter ended March 31, 2025, compared to $72.07 million for the preceding quarter and $39.37 million for the comparable quarter one year ago. Timberland continues to originate fixed-rate one- to four-family mortgage loans, a portion of which are sold into the secondary market for asset-liability management purposes and to generate non-interest income. During the current quarter, fixed-rate one- to four-family mortgage loans totaling $5.17 million were sold compared to $2.31 million for the preceding quarter and $2.28 million for the comparable quarter one year ago.

Investment Securities

Timberland’s investment securities and CDs held for investment decreased $6.17 million, or 3%, to $235.33 million at March 31, 2025, from $241.50 million at December 31, 2024. The decrease was primarily due to maturities of U.S. Treasury investment securities (classified as held to maturity) and scheduled amortization. Partially offsetting these decreases, was the purchase of additional U.S. government agency mortgage-backed investment securities and U.S. Treasury investment securities, all of which were classified as available for sale.

Deposits

Total deposits increased $20.41 million, or 1%, during the quarter to $1.65 billion at March 31, 2025, from $1.63 billion at December 31, 2024. The quarter’s increase consisted of a $15.45 million increase in certificates of deposit account balances, a $9.91 million increase in NOW checking account balances, a $4.90 million increase in non-interest bearing account balances, and a $1.01 million increase in savings account balances. These decreases were partially offset by a $10.86 million decrease in money market account balances.

Deposit Breakdown ($ in thousands)

	March 31, 2025			December 31, 2024			March 31, 2024
	Amount		Percent	Amount		Percent	Amount		Percent
Non-interest-bearing demand	$	407,811	25%	$	402,911	25%	$	424,906	26%
NOW checking		333,325	20		323,412	20		336,621	20
Savings		207,857	13		206,845	13		211,085	13
Money market		300,552	18		311,413	19		311,994	19
Certificates of deposit under $250		227,137	14		212,764	13		190,762	12
Certificates of deposit $250 and over		124,009	7		122,997	7		118,698	7
Certificates of deposit – brokered		50,139	3		50,074	3		44,488	3
Total deposits	$	1,650,830	100%	$	1,630,416	100%	$	1,638,554	100%

Borrowings

Total borrowings were $20.00 million at both March 31, 2025 and December 31, 2024. At March 31, 2025, the weighted average rate on the borrowings was 3.97%.

Shareholders’ Equity and Capital Ratios

Total shareholders’ equity increased $3.32 million, or 1%, to $252.52 million at March 31, 2025, from $249.20 million at December 31, 2024, and increased $13.84 million, or 6%, from $238.68 million at March 31, 2024. The quarter’s increase in shareholders’ equity was primarily due to net income of $6.76 million, which was partially offset by the payment of $1.99 million in dividends to shareholders and the repurchase of 61,764 shares of common stock for $1.91 million (an average price of $30.85 per share). There were 65,995 shares available to be repurchased in accordance with the terms of its existing stock repurchase plan at March 31, 2025.

Timberland remains well capitalized with a total risk-based capital ratio of 20.29%, a Tier 1 leverage capital ratio of 12.55%, a tangible common equity to tangible assets ratio (non-GAAP) of 12.36%, and a shareholders’ equity to total assets ratio of 13.07% at March 31, 2025. Timberland’s held to maturity investment securities were $140.95 million at March 31, 2025, with a net unrealized loss of $6.62 million (pre-tax). Although not permitted by U.S. Generally Accepted Accounting Principles (“GAAP”), including these unrealized losses in accumulated other comprehensive income (loss) (“AOCI”) would result in a ratio of shareholders’ equity to total assets of 12.83%, compared to 13.07%, as reported.

Asset Quality

Timberland’s non-performing assets to total assets ratio improved to 0.13% at March 31, 2025, compared to 0.16% at December 31, 2024 and 0.19% at March 31, 2024. Net charge-offs totaled less than $1,000 for the current quarter compared to net charge-offs of $242,000 for the preceding quarter and net charge-offs of $3,000 for the comparable quarter one year ago. During the current quarter, provisions for credit losses of $237,000 on loans and $14,000 unfunded commitments were made, which was partially offset by a $5,000 recapture of credit losses on investment securities. The allowance for credit losses (“ACL”) for loans as a percentage of loans receivable was 1.22% at March 31, 2025, compared to 1.21% at December 31, 2024 and 1.22% one year ago.

Total delinquent loans (past due 30 days or more) and non-accrual loans decreased $697,000 or 17%, to $3.32 million at March 31, 2025, from $4.02 million at December 31, 2024 and decreased $879,000, or 21%, from $4.20 million at March 31, 2024. Non-accrual loans decreased $406,000, or 15%, to $2.33 million at March 31, 2025 from $2.73 million at December 31, 2024 and decreased $1.28 million, or 35%, from $3.61 million at March 31, 2024. The quarterly decrease in non-accrual loans was primarily due to decreases in commercial business loans and commercial real estate loans on non-accrual status. Loans graded “Substandard”, however, increased to $23.51 million at March 31, 2025 from $2.12 million at December 31, 2024 and $8.42 million at March 31, 2024. The increase in loans graded “Substandard” was primarily a result of two loans (totaling $21.30 million) to one borrowing relationship being downgraded during the March 31, 2025 quarter. Both of these loans are performing and Timberland remains well collateralized (based on recent appraisals), but the loans were downgraded primarily because the borrower is experiencing a legal issue stemming from an unrelated project.

Non-Accrual Loans
($ in thousands)

	March 31, 2025			December 31, 2024			March 31, 2024
	Amount		Quantity	Amount		Quantity	Amount		Quantity
Mortgage loans:
One- to four-family	$	47	1	$	47	1	$	380	3
Commercial		324	3		698	5		1,149	3
Construction – custom and
owner/builder		—	—		—	—		152	1
Total mortgage loans		371	4		745	6		1,681	7

Consumer loans:
Home equity and second
mortgage		575	3		587	3		165	1
Other		—	—		—	—		—	—
Total consumer loans		575	3		587	3		165	1

Commercial business loans		1,381	11		1,401	11		1,759	6
Total loans	$	2,327	18	$	2,733	20	$	3,605	14

Timberland had two properties classified as other real estate owned (“OREO”) at March 31, 2025:

	March 31, 2025			December 31, 2024			March 31, 2024
	Amount		Quantity	Amount		Quantity	Amount		Quantity
Other real estate owned:
Commercial	$	221	1	$	221	1	$	—	—
Land		—	1		—	1		—	1
Total mortgage loans	$	221	2	$	221	2	$	—	1

About Timberland Bancorp, Inc.
Timberland Bancorp, Inc., a Washington corporation, is the holding company for Timberland Bank. The Bank opened for business in 1915 and primarily serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 23 branches (including its main office in Hoquiam).

Disclaimer

Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. Forward-looking statements are not statements of historical fact, are based on certain assumptions and often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the results anticipated or implied by our forward-looking statements, including, but not limited to: potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; continuing elevated levels of inflation and the impact of current and future monetary policies of the Board of Governors of the Federal Reserve System (“Federal Reserve”) in response thereto; the effects of any federal government shutdown; credit risks of lending activities, including any deterioration in the housing and commercial real estate markets which may lead to increased losses and non-performing loans in our loan portfolio resulting in our ACL not being adequate to cover actual losses and thus requiring us to materially increase our ACL through the provision for credit losses; changes in general economic conditions, either nationally or in our market areas; changes in the levels of general interest rates, and the relative differences between short and long-term interest rates, deposit interest rates, our net interest margin and funding sources; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values in our market areas; secondary market conditions for loans and our ability to sell loans in the secondary market; results of examinations of us by the Federal Reserve and of our bank subsidiary by the Federal Deposit Insurance Corporation (“FDIC”), the Washington State Department of Financial Institutions, Division of Banks or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, institute a formal or informal enforcement action against us or our bank subsidiary which could require us to increase our ACL, write-down assets, change our regulatory capital position or affect our ability to borrow funds or maintain or increase deposits or impose additional requirements or restrictions on us, any of which could adversely affect our liquidity and earnings; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; legislative or regulatory changes that adversely affect our business including changes in banking, securities and tax law, in regulatory policies and principles, or the interpretation of regulatory capital or other rules; our ability to attract and retain deposits; our ability to control operating costs and expenses; the use of estimates in determining fair value of certain of our assets, which estimates may prove to be incorrect and result in significant declines in valuation; difficulties in reducing risks associated with the loans in our consolidated balance sheet; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect our work force and potential associated charges; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform several of our critical processing functions; our ability to retain key members of our senior management team; costs and effects of litigation, including settlements and judgments; our ability to implement our business strategies; our ability to manage loan delinquency rates; increased competitive pressures among financial services companies; changes in consumer spending, borrowing and savings habits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; our ability to pay dividends on our common stock; the quality and composition of our securities portfolio and the impact if any adverse changes in the securities markets, including on market liquidity; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board (“FASB”), including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; the economic impact of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services; and other risks described elsewhere in this press release and in the Company’s other reports filed with or furnished to the Securities and Exchange Commission.

Any of the forward-looking statements that we make in this press release and in the other public statements we make are based upon management’s beliefs and assumptions at the time they are made. We do not undertake and specifically disclaim any obligation to publicly update or revise any forward-looking statements included in this press release to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this document might not occur and we caution readers not to place undue reliance on any forward-looking statements. These risks could cause our actual results for fiscal 2025 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us, and could negatively affect the Company’s consolidated financial condition and results of operations as well as its stock price performance.

TIMBERLAND BANCORP INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME			Three Months Ended
($ in thousands, except per share amounts) (unaudited)			March 31,					Dec. 31						March 31,
			2025					2024						2024
	Interest and dividend income
	Loans receivable		$	20,896				$	21,032					$	18,909
	Investment securities			2,003					2,138						2,246
	Dividends from mutual funds, FHLB stock and other investments			82					86						82
	Interest bearing deposits in banks			1,884					2,001						1,919
	Total interest and dividend income			24,865					25,257						23,156

	Interest expense
	Deposits			7,454					8,084						7,301
	Borrowings			198					203						220
	Total interest expense			7,652					8,287						7,521
	Net interest income			17,213					16,970						15,635
	Provision for credit losses – loans			237					52						166
	Prov. for (recapture of) credit losses – investment securities			(5			)		(5		)				3
	Prov. for (recapture of ) credit losses – unfunded commitments			14					(20		)				(88	)
	Net int. income after provision for (recapture of) credit losses			16,967					16,943						15,554

	Non-interest income
	Service charges on deposits			959					999						988
	ATM and debit card interchange transaction fees			1,176					1,267						1,212
	Gain on sales of loans, net			122					43						41
	Bank owned life insurance (“BOLI”) net earnings			165					167						156
	Recoveries on investment securities, net			4					3						2
	Other			261					218						216
	Total non-interest income, net			2,687					2,697						2,615

	Non-interest expense
	Salaries and employee benefits			5,977					6,092						6,024
	Premises and equipment			1,075					950						1,081
	Advertising			189					181						159
	OREO and other repossessed assets, net			9					—						—
	ATM and debit card processing			521					521						601
	Postage and courier			142					121						145
	State and local taxes			335					346						325
	Professional fees			431					346						319
	FDIC insurance			219					210						206
	Loan administration and foreclosure			155					128						134
	Technology and communications			1,121					1,140						1,040
	Deposit operations			319					332						324
	Amortization of core deposit intangible (“CDI”)			45					45						57
	Other, net			656					655						576
	Total non-interest expense, net			11,194					11,067						10,991

	Income before income taxes			8,460					8,573						7,178
	Provision for income taxes			1,705					1,713						1,470
	Net income		$	6,755				$	6,860					$	5,708

	Net income per common share:
	Basic		$	0.85				$	0.86					$	0.71
	Diluted			0.85					0.86						0.70

	Weighted average common shares outstanding:
	Basic			7,937,063					7,958,275						8,081,924
	Diluted			7,968,632					7,999,504						8,121,109

TIMBERLAND BANCORP INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME			Six Months Ended
($ in thousands, except per share amounts) (unaudited)			March 31,											March 31,
			2025											2024
	Interest and dividend income
	Loans receivable		$	41,928										$	37,304
	Investment securities			4,141											4,556
	Dividends from mutual funds, FHLB stock and other investments			168											173
	Interest bearing deposits in banks			3,885											3,618
	Total interest and dividend income			50,122											45,651

	Interest expense
	Deposits			15,538											13,444
	Borrowings			402											568
	Total interest expense			15,940											14,012
	Net interest income			34,182											31,639
	Provision for credit losses – loans			289											545
	Recapture of credit losses – investment securities			(10			)								(7	)
	Recapture of credit losses – unfunded commitments			(7			)								(121	)
	Net int. income after provision for (recapture of) credit losses			33,910											31,222

	Non-interest income
	Service charges on deposits			1,958											2,011
	ATM and debit card interchange transaction fees			2,443											2,476
	Gain on sales of loans, net			165											120
	Bank owned life insurance (“BOLI”) net earnings			331											312
	Recoveries on investment securities, net			7											7
	Other			480											487
	Total non-interest income, net			5,384											5,413

	Non-interest expense
	Salaries and employee benefits			12,068											11,936
	Premises and equipment			2,025											2,054
	Advertising			370											345
	OREO and other repossessed assets, net			9											—
	ATM and debit card processing			1,043											1,216
	Postage and courier			264											271
	State and local taxes			680											644
	Professional fees			777											572
	FDIC insurance			429											416
	Loan administration and foreclosure			283											239
	Technology and communications			2,261											2,014
	Deposit operations			652											644
	Amortization of core deposit intangible (“CDI”)			90											113
	Other, net			1,309											1,151
	Total non-interest expense, net			22,260											21,615

	Income before income taxes			17,034											15,020
	Provision for income taxes			3,419											3,016
	Net income		$	13,615										$	12,004

	Net income per common share:
	Basic		$	1.71										$	1.48
	Diluted			1.71											1.47

	Weighted average common shares outstanding:
	Basic			7,947,786											8,098,155
	Diluted			7,984,238											8,143,701

TIMBERLAND BANCORP INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS
($ in thousands, except per share amounts) (unaudited)			March 31,					Dec. 31,				March 31,
			2025					2024				2024
Assets
Cash and due from financial institutions			$		26,010			$	24,538			$	22,310
Interest-bearing deposits in banks					165,201				139,533				158,039
		Total cash and cash equivalents			191,211				164,071				180,349

Certificates of deposit (“CDs”) held for investment, at cost					8,711				7,470				11,204
Investment securities:
		Held to maturity, at amortized cost (net of ACL – investment securities)			140,954				156,105				211,818
		Available for sale, at fair value			84,807				77,080				61,746
Investments in equity securities, at fair value					853				840				839
FHLB stock					2,045				2,037				2,037
Other investments, at cost					3,000				3,000				3,000
Loans held for sale					1,151				411				1,311

Loans receivable					1,437,599				1,429,107				1,375,934
Less: ACL – loans					(17,525	)			(17,288	)			(16,818			)
		Net loans receivable			1,420,074				1,411,819				1,359,116

Premises and equipment, net					21,436				21,617				21,718
OREO and other repossessed assets, net					221				221				—
BOLI					23,942				23,777				23,278
Accrued interest receivable					7,127				7,095				7,108
Goodwill					15,131				15,131				15,131
CDI					361				406				564
Loan servicing rights, net					1,051				1,195				1,717
Operating lease right-of-use assets					1,324				1,400				1,624
Other assets					9,331				15,805				4,674
		Total assets	$		1,932,730				1,909,480			$	1,907,234

Liabilities and shareholders’ equity
Deposits: Non-interest-bearing demand			$		407,811				402,911			$	424,906
Deposits: Interest-bearing					1,243,019				1,227,505				1,213,648
		Total deposits			1,650,830				1,630,416				1,638,554

Operating lease liabilities					1,426				1,501				1,723
FHLB borrowings					20,000				20,000				20,000
Other liabilities and accrued expenses					7,950				8,364				8,278
		Total liabilities			1,680,206				1,660,281				1,668,555

Shareholders’ equity
Common stock, $.01 par value; 50,000,000 shares authorized;
7,903,489 shares issued and outstanding – March 31, 2025
7,954,673 shares issued and outstanding – December 31, 2024
8,023,121shares issued and outstanding – March 31, 2024					28,028				29,593				32,338
Retained earnings					225,166				220,398				207,086
Accumulated other comprehensive loss					(670	)			(792	)			(745			)
		Total shareholders’ equity			252,524				249,199				238,679
		Total liabilities and shareholders’ equity	$		1,932,730				1,909,480			$	1,907,234

	Three Months Ended
PERFORMANCE RATIOS:	March 31, 2025			Dec. 31, 2024			March 31, 2024
Return on average assets (a)		1.43	%		1.41	%		1.22	%
Return on average equity (a)		10.95	%		11.03	%		9.67	%
Net interest margin (a)		3.79	%		3.64	%		3.48	%
Efficiency ratio		56.25	%		56.27	%		60.22	%

	Six Months Ended
	March 31, 2025						March 31, 2024
Return on average assets (a)		1.42	%					1.28	%
Return on average equity (a)		10.99	%					10.18	%
Net interest margin (a)		3.71	%					3.53	%
Efficiency ratio		56.26	%					58.34	%

	Three Months Ended
ASSET QUALITY RATIOS AND DATA: ($ in thousands)	March 31, 2025			Dec. 31, 2024			March 31, 2024
Non-accrual loans	$	2,327		$	2,733		$	3,605
Loans past due 90 days and still accruing		—			—			—
Non-performing investment securities		41			45			79
OREO and other repossessed assets		221			221			—
Total non-performing assets (b)	$	2,589		$	2,999		$	3,684

Non-performing assets to total assets (b)		0.13	%		0.16	%		0.19	%
Net charge-offs during quarter	$	—		$	242		$	3
Allowance for credit losses – loans to non-accrual loans		753	%		633	%		467	%
Allowance for credit losses – loans to loans receivable (c)		1.22	%		1.21	%		1.22	%


CAPITAL RATIOS:
Tier 1 leverage capital		12.55	%		12.32	%		12.01	%
Tier 1 risk-based capital		19.04	%		18.69	%		18.08	%
Common equity Tier 1 risk-based capital		19.04	%		18.69	%		18.08	%
Total risk-based capital		20.29	%		19.95	%		19.33	%
Tangible common equity to tangible assets (non-GAAP)		12.36	%		12.34	%		11.79	%

BOOK VALUES:
Book value per common share	$	31.95		$	31.33		$	29.75
Tangible book value per common share (d)		29.99			29.37			27.79

________________________________________________

(a) Annualized
(b) Non-performing assets include non-accrual loans, loans past due 90 days and still accruing, non-performing investment securities and OREO and other repossessed assets.
(c) Does not include loans held for sale and is before the allowance for credit losses.
(d) Tangible common equity divided by common shares outstanding (non-GAAP).

AVERAGE BALANCES, YIELDS, AND RATES – QUARTERLY
($ in thousands)
(unaudited)

	For the Three Months Ended
	March 31, 2025					December 31, 2024					March 31, 2024
	Amount			Rate		Amount			Rate		Amount			Rate

Assets
Loans receivable and loans held for sale	$	1,435,999		5.90	%	$	1,438,144		5.80	%	$	1,365,417		5.57	%
Investment securities and FHLB stock (1)		232,532		3.64			247,236		3.57			298,003		3.14

Interest-earning deposits in banks and CDs		172,175		4.44			166,764		4.76			143,121		5.39
Total interest-earning assets		1,840,706		5.48			1,852,144		5.42			1,806,541		5.16
Other assets		77,563					75,534					81,337
Total assets	$	1,918,269				$	1,927,678				$	1,887,878

Liabilities and Shareholders’ Equity
NOW checking accounts	$	328,115		1.32	%	$	328,455		1.38	%	$	367,924		1.61	%
Money market accounts		306,137		3.18			324,424		3.42			270,623		3.14
Savings accounts		206,054		0.28			205,650		0.28			214,233		0.23
Certificates of deposit accounts		343,945		3.82			331,785		4.09			295,202		4.16
Brokered CDs		50,104		4.85			46,414		4.98			40,402		5.40
Total interest-bearing deposits		1,234,355		2.45			1,236,728		2.59			1,188,384		2.47
Borrowings		20,000		4.04			20,000		4.03			20,001		4.42
Total interest-bearing liabilities		1,254,355		2.47			1,256,728		2.62			1,208,385		2.50

Non-interest-bearing demand deposits		403,738					414,149					431,826
Other liabilities		10,064					10,146					10,182
Shareholders’ equity		250,112					246,655					237,485
Total liabilities and shareholders’ equity	$	1,918,269				$	1,927,678				$	1,887,878

Interest rate spread				3.01	%				2.80	%				2.66	%
Net interest margin (2)				3.79	%				3.64	%				3.48	%
Average interest-earning assets to
average interest-bearing liabilities		146.75	%				147.38	%				149.50	%

_____________________________________
(1) Includes other investments
(2) Net interest margin = annualized net interest income / average interest-earning assets

AVERAGE BALANCES, YIELDS, AND RATES
($ in thousands)
(unaudited)

	For the Six Months Ended
	March 31, 2025					March 31, 2024
	Amount			Rate		Amount			Rate

Assets
Loans receivable and loans held for sale	$	1,437,081		5.85	%	$	1,349,105		5.53	%
Investment securities and FHLB stock (1)		239,966		3.60			307,636		3.08
Interest-earning deposits in banks and CDs		169,444		4.60			134,643		5.37
Total interest-earning assets		1,846,491		5.44			1,791,384		5.10
Other assets		76,535					81,473
Total assets	$	1,923,026				$	1,872,857

Liabilities and Shareholders’ Equity
NOW checking accounts	$	328,287		1.35	%	$	372,327		1.56	%
Money market accounts		315,381		3.31			247,656		2.78
Savings accounts		205,849		0.28			217,153		0.23
Certificates of deposit accounts		337,798		3.95			281,842		4.07
Brokered CDs		48,239		4.91			41,570		5.39
Total interest-bearing deposits		1,235,554		2.52			1,160,548		2.32
Borrowings		20,000		4.02			24,427		4.65
Total interest-bearing liabilities		1,255,554		2.55			1,184,975		2.37

Non-interest-bearing demand deposits		409,000					440,976
Other liabilities		10,107					11,035
Shareholders’ equity		248,365					235,871
Total liabilities and shareholders’ equity	$	1,923,026				$	1,872,857

Interest rate spread				2.89	%				2.73	%
Net interest margin (2)				3.71	%				3.53	%
Average interest-earning assets to
average interest-bearing liabilities		147.07	%				151.17	%

_____________________________________
(1) Includes other investments
(2) Net interest margin = annualized net interest income / average interest-earning assets

Non-GAAP Financial Measures
In addition to results presented in accordance with GAAP, this press release contains certain non-GAAP financial measures. Timberland believes that certain non-GAAP financial measures provide investors with information useful in understanding the Company’s financial performance; however, readers of this report are urged to review these non-GAAP financial measures in conjunction with GAAP results as reported.

Financial measures that exclude intangible assets are non-GAAP measures. To provide investors with a broader understanding of capital adequacy, Timberland provides non-GAAP financial measures for tangible common equity, along with the GAAP measure. Tangible common equity is calculated as shareholders’ equity less goodwill and CDI. In addition, tangible assets equal total assets less goodwill and CDI.

The following table provides a reconciliation of ending shareholders’ equity (GAAP) to ending tangible shareholders’ equity (non-GAAP) and ending total assets (GAAP) to ending tangible assets (non-GAAP).

($ in thousands)	March 31, 2025			December 31, 2024			March 31, 2024

Shareholders’ equity	$	252,524		$	249,199		$	238,679
Less goodwill and CDI		(15,492	)		(15,537	)		(15,695	)
Tangible common equity	$	237,032		$	233,662		$	222,984

Total assets	$	1,932,730		$	1,909,480		$	1,907,234
Less goodwill and CDI		(15,492	)		(15,537	)		(15,695	)
Tangible assets	$	1,917,238		$	1,893,943		$	1,891,539

Contact:	Dean J. Brydon, CEO
	Jonathan A. Fischer, President & COO
	Marci A. Basich, CFO
	(360) 533-4747
	www.timberlandbank.com

The MIL Network –

April 23, 2025

MIL-OSI USA: Attorney General Pamela Bondi Hosts First Task Force Meeting to Eradicate Anti-Christian Bias in the Federal Government

Source: US State of California

Today, Attorney General Pamela Bondi hosted members of the President’s Cabinet at the U.S. Department of Justice for the inaugural meeting of the Task Force to Eradicate Anti-Christian Bias in the federal government. The Task Force, which was established by President Trump under Executive Order 14202, was joined by peaceful Christian Americans who were unfairly targeted by the Biden Administration for their religious beliefs.

The witnesses included:

Michael Farris: First Amendment Litigator and Founding President of Patrick Henry College

Farris spoke on behalf of Senior Pastor Gary Hamrick to discuss how Cornerstone Church was under investigation and charged by the Internal Revenue Service (IRS) for so-called Johnson Amendment violations. Farris is an elder at the church, previously led Alliance Defending Freedom, and served as counsel on this case.

Dr. Scott Hicks: Provost and Chief Academic Officer, Liberty University

Hicks described how Liberty University and Grand Canyon University were singled out by the Biden Administration for fines due to the schools’ Christian worldview.

Phil Mendes: Navy Seal

Mendes was relieved of duty during Biden Administration for not taking the COVID-19 vaccine due to religious exemption requests that were denied by the Department of Defense.

“As shown by our victims’ stories today, Biden’s Department of Justice abused and targeted peaceful Christians while ignoring violent, anti-Christian offenses,” said Attorney General Pamela Bondi. “Thanks to President Trump, we have ended those abuses, and we will continue to work closely with every member of this Task Force to protect every American’s right to speak and worship freely.”

Attorney General Pamela Bondi with members of the Eradicating Anti-Christian Bias Task Force at the U.S. Department of Justice

Additionally, members of the Task Force highlighted specific cases within their own agencies where the Biden Administration unfairly and harshly punished Christian Americans for their religious beliefs.

FBI Director Kash Patel discussed the impact of the anti-Catholic memo issued by FBI Richmond and reiterated the FBI’s commitment to rooting out any anti-Christian bias that could be directing decisions or investigations.

Secretary of State Marco Rubio raised several concerning allegations of bias, including some against Christian Foreign Service Officers who preferred to homeschool their children. In one case, a family was threatened with an investigation for child abuse and curtailment if they insisted on homeschooling. In another case, a family was referred to the IRS, threatened with prosecution, and investigated by Biden’s Inspector General for insisting they homeschool their son.

He shared how State Department employees were stigmatized for opposing the COVID-19 vaccine mandate on religious grounds, including being called “murderers” and “troublemakers.” In one instance, an ambassador yelled at an employee, accusing the employee of wanting to kill the ambassador’s mother despite her being back in the States.

Other reports alleged retaliation against employees for opposing DEI/LGBT ideology that violated their religious conscience. Employees recounted being required to push LGBT agendas while serving overseas, even in countries where such activity constituted a blatant violation of the acceptable religious beliefs and practices. He also detailed allegations that that religious freedom policy offices and programs were sidelined unless they were promoting DEI-related programs.

He also highlighted how Christian holidays at American embassies under the Biden Administration were frequently stripped of any religious overtones, but non-Christian religious holidays like Losar, Eid, or Ramadan, used proper names and appropriate celebratory greetings.

Health and Human Services Secretary Robert F. Kennedy Jr. discussed how the previous administration ordered St. Francis Health System in Oklahoma to extinguish its sanctuary candle or lose its ability to treat patients covered by Medicare, Medicaid or the Children’s Health Insurance Program. He also discussed progressive rules put in place under the Biden Administration that would make it harder for Christians to become foster parents.

Secretary of Education Linda McMahon discussed how Oregon educators Katie Medart and Rachel Sager were suspended and terminated for starting the movement, “I Resolve.” The movement spoke about gender identity education policy and offered solutions for how educators could teach without violating their conscience and also respect the rights of parents.

Additionally, officials at the Skaneateles Central School District in New York began treating a middle-school girl as a boy without her mother’s knowledge or consent – violating their religious liberties as parents.

Deputy Treasury Secretary Michael Faulkender discussed financial surveillance under the Biden Administration, including the previous removal of certain tax classifications of Christian and pro-life organizations by the IRS, the lack of involvement within Treasury to protect organizations from the issue of debanking, and FinCEN’s identification of certain pro-Christian groups as “hate groups.”

Secretary of Veterans Affairs Doug Collins discussed actions the VA took to stop the speech code that the previous administration used to punish Chaplain Trubey of the Coatesville VA Medical Center for fulfilling his duties and preaching a sermon from the Bible.

Director of the Domestic Policy Council, Vince Haley, discussed how the previous DPC Director Neera Tanden helped lead and coordinate the Biden Administration’s efforts to push radical and anti-Christian gender ideology on kids in classrooms, foster care, sports, and healthcare.

Additional attendees included:

Todd Blanche, Deputy Attorney General
Emil Bove, Principal Associate Deputy Attorney General
Stanley Woodward, Nominee to be Associate Attorney General
Harmeet Dhillon, Assistant Attorney General
Pete Hegseth, U.S. Secretary of Defense
Kristi Noem, U.S. Secretary of Homeland Security
Andrew Hughes, Chief of Staff (Dep. Sec. Nom.) at the U.S. Department of Housing and Urban Development
Lori Chavez DeRemer, U.S. Secretary of Labor
Andrea Lucas, Acting Chair of the U.S. Equal Employment Opportunity Commission
Cameron Hamilton, Acting Director of the Federal Emergency Management Agency
Dan Bishop, Deputy Director of the Office of Management and Budget
Kelly Loeffler, Administrator of the U.S. Small Business Administration
Pastor Paula White-Cain, Senior Advisor, White House Faith Office
Jennifer Korn, Faith Director, White House Faith Office

Read the Eradicating Anti-Christian Bias Executive Order HERE.

MIL OSI USA News –

April 23, 2025

MIL-OSI Security: Attorney General Pamela Bondi Hosts First Task Force Meeting to Eradicate Anti-Christian Bias in the Federal Government

Source: United States Attorneys General 13

Today, Attorney General Pamela Bondi hosted members of the President’s Cabinet at the U.S. Department of Justice for the inaugural meeting of the Task Force to Eradicate Anti-Christian Bias in the federal government. The Task Force, which was established by President Trump under Executive Order 14202, was joined by peaceful Christian Americans who were unfairly targeted by the Biden Administration for their religious beliefs.

The witnesses included:

Michael Farris: First Amendment Litigator and Founding President of Patrick Henry College

Farris spoke on behalf of Senior Pastor Gary Hamrick to discuss how Cornerstone Church was under investigation and charged by the Internal Revenue Service (IRS) for so-called Johnson Amendment violations. Farris is an elder at the church, previously led Alliance Defending Freedom, and served as counsel on this case.

Dr. Scott Hicks: Provost and Chief Academic Officer, Liberty University

Hicks described how Liberty University and Grand Canyon University were singled out by the Biden Administration for fines due to the schools’ Christian worldview.

Phil Mendes: Navy Seal

Mendes was relieved of duty during Biden Administration for not taking the COVID-19 vaccine due to religious exemption requests that were denied by the Department of Defense.