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Category: Health

  • MIL-OSI Economics: Egypt marks major achievement with malaria-free certification, but need for global R&D remains significant, says GlobalData

    Source: GlobalData

    Egypt marks major achievement with malaria-free certification, but need for global R&D remains significant, says GlobalData

    Posted in Pharma

    The World Health Organization (WHO) has certified Egypt as being malaria-free, following a near 100-year endeavour by the Egyptian government. Egypt is the third country to be declared malaria-free in the WHO Eastern Mediterranean Region, and the 44th country globally. However, hundreds of millions of cases of malaria are still reported worldwide each year. These staggering numbers reinforce a global need for research and development, particularly for malaria vaccines, says GlobalData, a leading data and analytics company.

    Stephanie Kurdach, Infectious Disease Analyst at GlobalData, comments: “Egypt’s malaria-free certification is a significant achievement, as this is a country which once recorded millions of cases. Unfortunately, the global burden of malaria remains high.”

    The WHO reported nearly 250 million cases of malaria and over 600,000 malaria-related deaths worldwide in 2022.

    In order to be certified malaria-free by the WHO, a country must prove that there has been no local transmission of any human malaria parasites for at least the past three consecutive years. Additionally, a country must maintain a fully functional surveillance and response system to prevent the re-establishment of indigenous transmission.

    Egypt’s efforts to reduce mosquito-borne diseases began in the 1920s, when the country prohibited agricultural crops near homes. Other efforts over the past 100 years have included opening a malaria control station, recruiting thousands of healthcare workers, launching a public health surveillance project, and public education.

    Kurdach continues: “To address the global burden of malaria and work towards global eradication, research and development is critical. Just as Egypt remains obligated to maintain surveillance, diagnosis, and treatment efforts throughout the nation, other nations plagued by malaria are in dire need of robust surveillance systems, diagnostic tools, affordable health care, and malaria vaccines.”

    There are currently only two malaria vaccines which are WHO prequalified* and recommended for use in children: GSK’s Mosquirix and Serum Institute of India’s R21/Matrix-M.

    According to GlobalData, there are 12 other malaria vaccines currently in Phase II development, including vaccines from BioNTech, GSK, the National Institute of Allergy and Infectious Diseases (NIAID), and the University of Oxford. No new malaria vaccines are in Phase III development or pre-registration.

    Kurdach concludes: “There is a serious global unmet need for malaria vaccines, which is evidenced by the late-stage development pipeline. Egypt’s malaria-free certification serves as a reminder and call to action that malaria elimination is possible with increased research and development.”

    *The recommendations of Mosquirix and R21/Matrix-M by the WHO are relatively recent and occurred in 2021 and 2023, respectively.

    MIL OSI Economics –

  • MIL-OSI Australia: Unexplained death at Port Augusta

    Source: South Australia Police

    Major Crime Investigation Branch and Port Augusta CIB detectives are investigating the unexplained death of a 26 year-old woman from Port Augusta.

    The woman, who had physical and intellectual disabilities, died in Royal Adelaide Hospital on Monday night (October 28).

    She was taken to Port Augusta Hospital on October 24 after SA Ambulance attended at her Edinburgh Terrace home. She was found to be seriously ill with significant infected wounds.

    On October 25, the woman’s condition deteriorated, and she was transported to the Royal Adelaide Hospital. Port Augusta CIB detectives were advised and commenced a criminal neglect investigation and searched her home.

    The woman’s death has been declared a major crime.

    Major Crime officer-in-charge Detective Superintendent Des Bray said the investigation was in its early stages and the examination of the house was expected to take several days.

    Major Crime detectives and Forensic Response Section officers have been in Port Augusta working with local police since yesterday.

    “There are significant indicators of criminal neglect, but it is not yet clear if that caused the woman’s death,’’ he said.

    “Because of this there is a simultaneous criminal and coronial investigation underway that involves a significant commitment of resources.

    “The criminal investigation will examine the role of everyone who was involved in the provision of care to the victim and to determine if anyone is criminally responsible for the death. I expect that will take some time.’’

    “I would urge anyone who knows the victim that had raised concerns about her care to contact police.’’

    Anyone with any information is urged to contact Crime Stoppers on 1800 333 000.

    MIL OSI News –

  • MIL-OSI Australia: Supporting at-risk young men in Victoria to break the cycle of gendered violence

    Source: Ministers for Social Services

    Joint with:

    The Hon Justine Elliot MP
    Assistant Minister for Social Services 
    Assistant Minister for the Prevention of Family Violence
    Member for Richmond

    Mr Sam Rae MP
    Member for Hawke

    The Albanese Labor Government is strengthening efforts to prevent gender-based violence in Australia through its new $23 million early intervention trials focussed on engaging at risk young men and adolescent boys, including two trial sites in the Hume and Greater Shepparton regions of Victoria.

    Assistant Minister for Social Services and the Prevention of Family Violence, Justine Elliot, alongside the Federal Member for Hawke, Sam Rae, today met with Berry Street and their consortia partners who have been chosen to deliver the trial in the Hume region.

    Speaking from the trial site in Hume, Assistant Minister Elliot said early intervention work with young men is vital to helping break future cycles of violence in the community.

    “Ending gender-based violence is a complex issue, and we know that early intervention as part of a holistic approach is critical,” Assistant Minister Elliot said.

    “Through the Trial, we will intervene early to break the cycle of family, domestic, and sexual violence by improving the wellbeing of at-risk young men and boys in the key 12-to-18-year age range”

    “The 12 trial sites across Australia, including here in North-West of Melbourne, will support young men and boys to recover and heal from their experience of violence and help them to avoid choosing to use violence in their future relationships.”

    Local Federal Member, Sam Rae MP, said how important it was for these trials to be delivered by local services in order to get the best outcomes for the community.

    “Berry Street, alongside Uniting, Sunbury and Cobaw Community Health, Care First Support Services and Drummond Street, are experts in the field and importantly, know our area and our community”, Mr Rae said.

    “Backed by investment from the Albanese Labor Government, these services will deliver this critical support in our area, and provide the counselling and care that some young men and boys may need to ensure a safer future.”

    Successful grant recipients across Australia are expected to commence delivering services from early 2025.

    Following National Cabinet last month, the Albanese Labor Government committed a further $80 million to enhance and expand child-centric trauma-informed supports for children and young people who have witnessed or experienced family, domestic and sexual violence.

    More information on the National Plan to End Violence against Women and Children 2022-2032 is available on the Department of Social Services website.

    If you or someone you know is experiencing, or at risk of experiencing, domestic, family, or sexual violence, call 1800 737 732, text 0458 737 732 or visit www.1800RESPECT.org.au  for online chat and video call services.

    If you are concerned about your behaviour or use of violence, you can contact the Men’s Referral Service on 1300 766 491 or visit www.ntv.org.au

    Feeling worried or no good? Connect with 13YARN Aboriginal & Torres Strait Islander Crisis Supporters on 13 92 76, available 24/7 from any mobile or pay phone, or visit www.13yarn.org.au

    Kids Helpline (1800 551 800) is a free, confidential online and phone counselling service for young people aged 5 to 25. This service is available 24 hours a day, 7 days a week.

    MIL OSI News –

  • MIL-OSI Russia: From an ambulance to a hybrid operating room: How Moscow saves stroke patients

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Stroke is an acute disorder of blood supply to the brain, in which it is important to provide fast and high-tech assistance. In Moscow, a stroke network has been created on the basis of the largest multidisciplinary hospitals, which includes 13 specialized centers. In anticipation of World Stroke Day, which is celebrated on October 29, we tell you about one of them – at the flagship emergency care center City Clinical Hospital (CCH) No. 15 named after O.M. Filatov.

    A mos.ru correspondent followed in the footsteps of a patient at a stroke center and talked to doctors. How a multidisciplinary team is formed, what high-tech equipment allows finding the brain lesion and performing minimally invasive intervention, and what a hybrid operating room looks like — in our report.

    Beyond the Red Line. From the Ambulance to the Shock Ward

    Severe headache, nausea and vomiting, loss of consciousness or loss of consciousness, convulsions. These symptoms are typical of both ischemic stroke (impaired blood circulation due to vascular occlusion) and hemorrhagic stroke (ruptured blood vessels, causing blood to enter tissues). The first step is to call an ambulance team, which will take you to the nearest stroke center with a free operating room. Osman Osmanov, Deputy Chief Physician for Emergency Care at City Clinical Hospital No. 15 named after O. M. Filatov, shows an information board installed in the admissions department of the flagship center on the first floor.

    “Already on the way, the ambulance team gives us information about the patient. On the board, we see what time the acute condition arose, what is the level of consciousness according to the Glasgow Coma Scale and hemodynamic indicators: blood pressure, pulse, respiratory rate, saturation. In all flagship centers, the “triage” system has been implemented, according to which people are distributed among functional zones depending on the priority of assistance: red, yellow or green. Critical patients are marked on the board in red. Stroke is always “red”. Due to a blood clot in a vessel, brain tissue is damaged due to starvation,” Osman Osmanov specified.

    Meanwhile, a patient arrives at the center. There is a separate entrance for ambulances: through a spacious box separated from the reception area by glass doors. These doors open automatically for the team. Following the red line on the floor, it takes the patient to the anti-shock department. Doctors simultaneously register the person and collect a full anamnesis from the ambulance paramedics. Five minutes after arriving at the center, the patient is taken to the CT room.

    A multidisciplinary team is formed for each new case, emphasized Ikram Tagirov, head of the resuscitation and intensive care department for patients with acute cerebrovascular accident.

    “Not a minute can be wasted in vascular accidents, the life and subsequent rehabilitation of a person depend on our actions. That is why stroke centers are opening in Moscow, where there is everything for diagnostics and provision of qualified medical care for such pathologies: CT, MRI, ECG, at least two angiographs, laboratory equipment. We have four X-ray surgical operating rooms, one of which is hybrid. A multidisciplinary team of neurologists, resuscitators, specialists in radiation diagnostics, and X-ray endovascular surgeons is on duty around the clock. They are ready to meet the patient when they see on the board that he is coming. Sometimes a stroke or a heart attack occurs, then we involve cardiologists. If it turns out not to be a stroke, but a hematoma, then we involve neurosurgeons,” the doctor explained.

    From the triage system to the “space” operating room: how the flagship center of the O.M. Filatov Hospital No. 15 is organizedMoscow doctors have developed a technique for diagnosing childhood strokes — SobyaninSobyanin: Vascular centers received 8 angiographs with 3D modeling functionOver the past eight years, Moscow doctors have managed to increase the number of operations performed to remove blood clots by more than 30 times.

    Computed tomography for scanning the bloodstream

    The council is assembled right in the CT room. First of all, blood is taken for analysis and a native CT examination is performed (without contrast agent): the overall picture is assessed. Then, if indicated, CT angiography is performed to detect cerebral artery occlusion.

    If a hemorrhage or a space-occupying lesion of the brain is detected during a native examination, the patient is consulted by a neurosurgeon. When a person with an ischemic stroke is admitted in the therapeutic window (the time when a drug that dissolves a clot can be administered to a patient in this condition) and in the absence of contraindications, the question of thrombolytic therapy (TLT) arises. This is the breakdown of blood clots using medications. The faster the procedure is performed, the better the effect and the lower the neurological deficit. Thrombolytic therapy has strict time limits – 4.5 hours from the onset of symptoms, noted neurologist Zaretta Kurbanova.

    “We usually understand whether a particular patient is suitable for thrombolytic therapy before the ambulance arrives, since we know the onset time of the disease. If we are convinced by native CT that the ischemic focus (zone of dead cells) has not yet formed, we perform thrombolytic therapy and administer a thrombolytic drug. By that time, the test results are ready, because before thrombolysis it is important to check hemoglobin, platelets, and a coagulogram. After a native examination of the brain, if there are indications, we proceed to CT angiography. Contrasting the vessels allows us to scan the bloodstream and find the site of blockage that caused the stroke. It is in the CT examination room that a neurologist and an X-ray endovascular surgeon decide whether endovascular intervention (thromboextraction) is possible, that is, surgical extraction of a thrombus,” said Zaretta Kurbanova.

    In case of intracerebral hematoma, angiography is used to find the source of the hemorrhage and the patient is transferred to a neurosurgeon. Diagnostic procedures take about 30-40 minutes. The next stage is the operating room.

    Inside the “space” operating room. Stenting and thrombus extraction

    We leave the CT room and call the “red” elevator. The doors open immediately, and we go in a spacious cabin to the third floor – to the operating and resuscitation unit. If an intervention were planned, the anesthesiologist would already be waiting for us here. Most often, operations are performed under general anesthesia: the patient should not move while the surgeon works with microinstruments on small vessels.

    We put on a doctor’s suit – gowns, caps, masks – and go into the hybrid operating room. This is the heart of the stroke center, and doctors call it “Cosmos”. The latest generation angiographic complex, an artificial blood circulation machine, and ultrasound devices are installed here. Cardiovascular and general surgeons, traumatologists, gynecologists and other specialists can work together in the operating room. To understand all the sensors and monitors, we ask Sergei Korotkikh, a doctor of X-ray endovascular diagnostics and treatment, to give us a tour.

    He approaches the angiographic complex, presses a button on the display, and the couch smoothly rotates in different planes. For example, it tilts to the side: in this position, cardiac surgeons can conveniently operate on the aorta. In the case of a stroke, the couch is straightened. Sergei Korotkikh presses another button, and now the angiograph tube — an X-ray machine — moves in different planes.

    “With the help of an angiograph, we display a detailed image of the lesion on the screen, “remove” bone structures and build a vascular tree. The operation is performed using a minimally invasive endovascular method. Through small punctures, we insert flexible catheters into the vessel and open a stent in the thrombosis area. It is embedded in the structure of the thrombus, and we remove them both. After the intervention, we check whether the blood flow has been completely restored. And we always monitor the pressure: it can jump or fall sharply. After the thrombus is removed, the blood supply is restored, and the tissue in the brain is soft, it reacts sensitively to the effects of blood,” the doctor explained.

    We study angiographic images taken during operations. In the first one, the black “branches” – the blood supply – are cut off. In the second one, after treatment, they stretched across the brain again. The operation lasts about half an hour, then the person, accompanied by an anesthesiologist, is transported to the neurological intensive care unit.

    On the mend. Rehabilitation and prevention of recurrent stroke

    The final stage is a comprehensive examination to identify the cause of the stroke and reduce the risk of its recurrence. Rehabilitation begins in intensive care and continues in specialized centers or hospital departments.

    Innovative equipment also helps to recover from a stroke. For example, training is carried out on exercise machines with biofeedback. And a glove exercise machine helps to restore fine motor skills of the hands. A neurointerface is used to restore statolocomotor disorders, control of upper limb movements, and cognitive functions. Muscovites can receive free medications to reduce the risk of secondary stroke for two years from the date of diagnosis.

    The city also has a stroke prevention program. People at risk undergo ultrasound examinations of the neck vessels to detect atherosclerotic plaques, and those diagnosed with atrial fibrillation are prescribed blood thinners.

    Saving Hearts. Moscow’s Chief Cardiac Surgeon on Minimally Invasive Techniques and Disease PreventionTechnologies on guard of health: what high-precision equipment is used in Moscow hospitalsAngiograph, incubator and robotic technology: what makes the capital’s new medical centers uniqueSobyanin spoke about the new standard of emergency medical care in flagship centers

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/145869073/

    MIL OSI Russia News –

  • MIL-OSI: Will 2025 See Lower Salary Increases? Salary.com Releases Latest National Salary Budget Survey

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) — Salary.com, a leading provider of compensation market data and software, shared the results of its annual National Salary Budget Survey. Now in its 14th year, the survey collected responses from over 1,000 human resource professionals across 20 industries in the U.S. and Canada to see how companies are planning salary increases.

    This year’s survey found that the median salary increase stayed at 4 percent, but average increases dropped from 4.3 percent to 3.9 percent.

    Salary.com says this drop is because fewer companies are giving higher raises. The number of companies giving raises between 5 and 6.9 percent fell from 25 percent to 14 percent. This trend could be linked to lower inflation and stable unemployment after the economic instability caused by the pandemic and the Great Resignation. The survey also showed a return to typical salary increases of 3 to 3.9 percent, as reported by 38 percent of respondents in 2024, compared to 25 percent in 2023. Expectations for 2025 are similar to 2024.

    “Last year, we noted that salary increases might be at a peak, even with 4 percent becoming the norm. While 4 percent remained the median in 2024, further analysis suggests a shift is happening,” said Andy Miller, Vice President, Compensation Consulting at Salary.com. “This is important for HR and compensation teams as they plan budgets for next year, considering factors like industry, location and work arrangements.”

    The 2024-2025 National Salary Budget Survey also showed:

    • Geographically, the Northeast U.S. had the lowest salary increases, while the West Coast had the highest. The Northeast averaged 3.6 percent, compared to the national average of 3.9 percent. New York City (3.7%) and Boston (3.3%) had lower increases compared to San Francisco (4%) and Seattle (4.3%).
    • Regarding industries, Construction (4.2 percent) and Education, Government & Non-Profit (4.3 percent) had the largest increases. Hospitality (3.4 percent) and Transportation (3.6 percent) had smaller increases. Hospitality continues to adjust to local and regional minimum wage changes while recovering from the pandemic.
    • Defining pay for remote employees is still a challenge. The most common approach in 2024 was to set pay based on the employee’s primary residence (29 percent). Other methods included using a national pay rate (24 percent), regional pay rates (14 percent), or the closest employer location (12 percent). About 14 percent of respondents did not have remote employees.

    Miller added, “In 2024, many organizations experienced a level-set moment. Some sectors and regions saw increases, while others saw decreases, matching changes in labor markets, new laws, and evolving situations. Staying on top of these trends is key to good planning.”

    To buy a copy of Salary.com’s 2024-2025 National Salary Budget Survey, visit https://store.salary.com/national-salary-budget-survey.

    About Salary.com
    Salary.com has been helping organizations with human capital needs for over 20 years. The company leads the industry in compensation data, software, and services. More than 30,000 organizations in 22 countries use Salary.com’s solutions to hire and keep talent and compete in a changing world.

    Salary.com provides over 10 billion data points across more than 225 industries using a proprietary AI framework to ensure fair pay. The company’s main product, CompAnalyst®, helps organizations simplify hiring, reduce guesswork, and increase retention. Employee trust depends on fair pay, and Salary.com helps get it right. Please visit www.salary.com/business.

    The MIL Network –

  • MIL-OSI Security: Defense News: Navy Week Charts Course to Kansas City

    Source: United States Navy

    Kansas City Navy Week brings Sailors from across the fleet to the area to emphasize the importance of the Navy to Kansas City, the states of Missouri and Kansas, and the nation.

    More than 50 Sailors will participate in education and community outreach events throughout the city.

    Participating Navy organizations include Navy Band Great Lakes, USS Constitution, Naval Meteorology and Oceanography Command, Navy Talent Acquisition Group Mid-America, Maritime Expeditionary Security Squadron Two, Navy History and Heritage Command, The Strike Group, Fleet Outreach Ambassador Team (FLOAT), Bureau of Medicine and Surgery, Office of Small Business Programs, Office of Civilian Human Resources, Naval Reserve Center Kansas City, and Independence-class littoral combat ship USS Kansas City (LCS 22).

    The Navy’s senior executive is Rear Adm. Larry Watkins, Vice Commander, U.S. Naval Forces Europe/Vice Commander, U.S. Naval Forces Africa. He commissioned through the University of Missouri-Columbia Naval Reserve Officer Training Corps program in December 1990, graduating with an economics degree. He is also a 2012 graduate of Webster University with a Master of Business Administration and completed Joint Professional Military Education curriculum at Army Command & General Staff College. During Kansas City Navy Week, he is participating in community engagements, and meeting with local organizations, higher education, local business, civic, and government leaders.

    Navy Weeks are a series of outreach events coordinated by the Navy Office of Community Outreach designed to give Americans an opportunity to learn about the Navy, its people, and its importance to national security and prosperity. Since 2005, the Navy Week program has served as the Navy’s flagship outreach effort into areas of the country without a significant Navy presence, providing the public a firsthand look at why the Navy matters to cities like Kansas City.

    “Sailors are the reason America’s Navy is the most powerful in the world,” said NAVCO’s director, Cmdr. Julie Holland. “We are thrilled to bring your Navy Warfighters to Kansas City.  At Navy Weeks, Americans will connect with Sailors who have strong character, competence, and dedication to the mission, and who continue a nearly 250-year tradition of decisive power from seabed to cyberspace.”

    Throughout the week, Sailors are participating in various community events across the area, including ceremonial celebrations at Harry S. Truman Museum, WWI Museum, and Negro League Baseball Museum; volunteering with the Kansas City Urban Youth Academy, Habitat for Humanity Kansas City, Bishop Sullivan’s Center, Happy Bottoms, and Thelma’s Kitchen; and engaging with students across multiple high schools. Residents will also enjoy free live music by Navy Band Great Lakes at venues throughout the week.

    Kansas City Navy Week is the last of 15 Navy Weeks in 2024, which brings a variety of assets, equipment, and personnel to a single city for a weeklong series of engagements designed to bring America’s Navy closer to the people it protects. Each year, the program reaches more than 130 million people — about half the U.S. population.

    Media organizations wishing to cover Kansas City Navy Week events should contact Ensign Lamar Badger at (901) 229-5709 or erick.l.badger.mil@us.navy.mil.

    MIL Security OSI –

  • MIL-OSI: Locus Unveils Refrigerant Management Software Aligned with the EPA’s Final Rule on Hydrofluorocarbon Phasedown

    Source: GlobeNewswire (MIL-OSI)

    MOUNTAIN VIEW, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) — Locus Technologies the sustainability and Environmental Health and Safety (EHS) compliance software leader, today announced the release of Locus Refrigerant Management software, the cloud-based, mobile-friendly product that generates exceedance alerts, facilitates leak detection, and automates response protocols in addition to providing comprehensive tracking of fluorinated greenhouse gases (F-gases), chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), and substitutes like hydrofluorocarbons (HFCs). The software empowers companies to manage complex refrigerant phasedowns with accuracy and confidence, ultimately avoiding excessive emissions. The software also positions Locus clients to comply with tougher US federal regulations taking effect 14 months from now and to easily adapt as US and EU rules evolve in the future.

    On September 20, 2024, EPA Administrator, Michael S. Regan, signed the final rule Phasedown of Hydrofluorocarbons: Management of Certain Hydrofluorocarbons and Substitutes under of the American Innovation and Manufacturing (AIM) Act which indicates tougher requirements will be phased in starting January 1, 2026. Refrigerants are the most potent of greenhouse gases, with some varieties having a global warming potential hundreds and even thousands of times greater than CO2. Even small leaks pack a big punch on the environment, which is why stricter regulations are emerging.

    “These next 12 months will be critical for companies to articulate their refrigerant management plans, train their technicians, and adopt technology that will help them avoid costly errors and get this right,” said Mark Harbin, veteran refrigerant compliance expert and Locus product designer. “Locus is pleased to bring to market refrigerant management software as well as refrigerant management training and certification to help each client manage the phase down and transition successfully.”

    Immediate regulatory priorities include detecting leaks and resolving them within mandated timeframes; comprehensive record keeping of equipment, inspections, refrigerant inventories, and rates of use; and meticulously disposing and reclaiming used refrigerants. Locus Refrigerant Management software simplifies these challenges. Locus manages everything from service records to cylinder barcodes and automatically alerts users when any dates or datapoints are out of compliance. Immediate notifications and dynamic dashboards deliver real-time insights, and the software’s fully configurable components flex to future demands.

    “Refrigeration and air conditioning cause up to 10 percent of global carbon emissions, and the leaks alone produce more carbon than all the air travel worldwide, which is why waiting on periodic reports pulled from static refrigerant databases just won’t cut it,” said Wes Hawthorne, President of Locus Technologies. “Locus software enables clients to act quickly; the software immediately alerts users of potential problems with their equipment so that issues can be resolved before becoming disastrous.”

    Locus Refrigerant Management is one of several integrated applications available in Locus software. Other Locus offerings include EHS risk and compliance, sustainable construction, waste management, water quality, incident management, ESG reporting, and robust environmental data management software. This collection of specialized and unified SaaS applications enables clients to manage every facet of refrigerant management and environmental data in one place. To learn more about Locus Refrigerant Management or the full suite of applications, please visit www.locustec.com.

    About Locus Technologies
    Locus Technologies, the global environmental, social, governance (ESG), sustainability, and EHS compliance software leader, empowers companies of every size and industry to be credible with ESG reporting. From 1997, Locus pioneered enterprise software-as-a-service (SaaS) for EHS compliance, water management, and ESG credible reporting. Locus apps and software solutions improve business performance by strengthening risk management and EHS for organizations across industries and government agencies. Organizations ranging from medium-sized businesses to Fortune 500 enterprises, such as Sempra, Corteva, Chevron, DuPont, Chemours, San Jose Water Company, The Port Authority of New York and New Jersey, Port of Seattle, and Los Alamos National Laboratory, have selected Locus. Locus is headquartered in Mountain View, California. For further information regarding Locus and its commitment to excellence in SaaS solutions, please visit www.locustec.com or email info@locustec.com.

    The MIL Network –

  • MIL-OSI Global: On foreign policy, Trump opts for disruption and Harris for engagement − but they share some of the same concerns

    Source: The Conversation – USA – By Garret Martin, Senior Professorial Lecturer, Co-Director Transatlantic Policy Center, American University School of International Service

    Who will represent the U.S. better on the global stage? Justin Sullivan/Getty Images

    According to conventional wisdom, U.S. voters are largely motivated by domestic concerns and especially the economy.

    But the upcoming presidential election may be somewhat of an outlier. In a September 2024 poll, foreign policy actually ranks quite high in voters’ concerns – with more Democrats and Republicans combined saying it was “very important” to their vote than, say, immigration and abortion.

    As such, understanding where Republican presidential nominee Donald Trump and Democratic rival Kamala Harris stand on the significant international issues of the day is important. And we can do so by looking at the records of their respective administrations in the three regions they prioritized: the Indo-Pacific, Europe and the Middle East.

    Donald Trump: Disrupter-in-chief

    In his 2017 inaugural address, Trump painted a dark picture of the U.S. In his telling, his country was being taken advantage of by other nations, especially in trade and security, while neglecting domestic challenges.

    To disrupt this, Trump promised an “America First” approach to guide his administration.

    And in practice, his foreign policy certainly proved disruptive. He showed a clear willingness to buck traditions and undid some of former President Barack Obama’s signature policies, such as the Iran nuclear deal, which exchanged sanctions relief for restrictions on Tehran’s domestic nuclear program, and the Trans-Pacific Partnership trade agreement.

    In so doing, he ruffled the feathers of allies and foes alike.

    Trans-Atlantic relations were tense under Trump, especially because of his hostility toward NATO. After deriding the Atlantic alliance on the campaign trail, Trump stuck to the same tune while in office. He routinely insulted allies at high-level summits and allegedly came close to withdrawing from the alliance altogether in 2018.

    While NATO did make inroads in bolstering its Eastern flank in that period, the alliance was primarily defined by internal turmoil and limited cohesion during Trump’s time in office. U.S. relations with the European Union hardly fared better. In 2018, the U.S. imposed steel and aluminum tariffs on the European Union, citing national security concerns.

    Trump also broke with previous U.S. presidents in his administration’s Asia policy. One of his first moves in 2017 was to abandon the Trans-Pacific Partnership, a trade deal negotiated by Obama. Trump’s late 2017 national security strategy also announced a major shift toward China, labeling it as a “strategic competitor” – implying a greater emphasis on containing China as opposed to cooperating with it.

    This hawkish turn played out especially in the field of trade. Trump’s administration imposed four rounds of tariffs in 2018-19, affecting US$360 billion of Chinese goods. Beijing, of course, responded with tariffs of its own. The two countries did sign a so-called phase-one deal in January 2020 that sought to lower the stakes of this trade war. But the COVID-19 pandemic nullified any chance of success, and relations soured further with each Trump utterance of the pandemic being a “Chinese virus.”

    Trump showcased somewhat contradictory impulses toward the Middle East and other issues. He pushed for disengagement and to undo Obama’s major policies. Besides withdrawing from the Paris climate accords in 2017, Trump abandoned the Iran nuclear deal in 2018. His administration also signed a deal to end the U.S. presence in Afghanistan, and it withdrew forces from northern Syria.

    But at the same time, Trump continued the bombing campaign against the Islamic State group in Syria and Iraq and authorized the killing of Iranian Gen. Qasem Soleimani in 2020. The latter was consistent with a policy that aimed to pressure and isolate Iran economically and diplomatically. The key example of the diplomatic pressure came through especially via the Abraham Accords through which Trump helped facilitate the establishment of normal diplomatic ties between Israel and the UAE, Bahrain and Morocco.

    Kamala Harris: Alliance and engagement

    Although not taking a driving role in foreign policy, Harris has been part of an administration that has committed the U.S. to repairing alliances and engaging with the world.

    This came across by undoing some major actions from the Trump administration. For example, the U.S. quickly rejoined the Paris climate accords and overturned a decision to leave the World Health Organization.

    But in other areas, the Biden administration has shown more continuity with Trump than many expected.

    For instance, the U.S. under Biden has not fundamentally deviated from strategic competition with China, even though the tactics have differed a little. The administration maintained Trump’s tariff approach, even adding its own targeted rounds against Beijing on electric vehicles.

    Moreover, it cultivated different diplomatic platforms in the Indo-Pacific to act as a counterweight to China. This included the cultivation of the Quad dialogue with Australia, India and Japan, and the AUKUS deal with Australia and the U.K., both of which attempted to further the Biden administration’s strategy of containing China’s influence by enlisting regional allies. Finally, the Biden administration did maintain some channels of communication with China at the highest level as well, with Biden meeting Xi Jinping twice during his presidency.

    Ukraine President Volodymyr Zelenskyy walks alongside Vice President Kamala Harris at the White House compound on Sept. 26, 2024.
    Tom Brenner/Getty Images

    The Biden administration’s Middle Eastern policy displayed significant continuity with Trump’s approach – at first. While it turned out to be chaotic, the U.S. completed the withdrawal of its troops from Afghanistan in summer 2021, as had been agreed under Trump. The Biden administration also embraced the format and goals of the Abraham Accords. It even tried to build on them, with the goal of fostering Israeli-Saudi diplomatic ties.

    Of course, the attacks of Oct. 7, 2023, in Israel completely changed the equation in the Middle East. Preventing the spiral of violence in the region has become an all-consuming task. Since then, Biden and Harris have tried, largely unsuccessfully, to balance support for Israel with mediation efforts to liberate the hostages and to ensure a cease-fire.

    Trans-Atlantic relations, however, are an area where there were marked differences in the past four years. The tone of the Biden-Harris administration has been in sharp contrast with that of Trump, reaffirming frequently its clear commitment to NATO. And once Russia launched its illegal invasion in February 2022, the U.S. placed itself at the forefront of supporting Ukraine.

    Harris has suggested that she would continue Biden’s policy of providing Kyiv with extensive and continuous military support. In conjunction with allies, the White House of Biden and Harris also implemented a broad range of sanctions against Russia. But the U.S. under Biden has not yet been willing to support Ukraine’s immediate entry into NATO.

    What next?

    Based on their records, what could we expect of a Trump or Harris presidency?

    It’s unlikely either candidate will abandon strategic competition with China. But Trump is more likely to seriously escalate the trade war, promising extensive tariffs against Beijing. Trump’s commitment to defending Taiwan is also more ambiguous in comparison with Harris’ pledges.

    U.S. policy toward Europe will largely depend on the results of the election. Harris has frequently underlined her steadfast support for NATO, as well as for Ukraine. Trump, on the other hand, is showing signs that he is unwilling to further aid the regime in Kyiv.

    And for the Middle East, it remains to be seen whether either Trump or Harris would be able to better shape events in the region.

    Garret Martin receives funding from the European Union for the research institute he co-directs, the Transatlantic Policy Center.

    – ref. On foreign policy, Trump opts for disruption and Harris for engagement − but they share some of the same concerns – https://theconversation.com/on-foreign-policy-trump-opts-for-disruption-and-harris-for-engagement-but-they-share-some-of-the-same-concerns-238847

    MIL OSI – Global Reports –

  • MIL-OSI United Nations: Pan-European Strategy aims to align Transport, Health and Environment policies by 2050

    Source: United Nations Economic Commission for Europe

    Transport plays a crucial role in society and in the economy, enabling access to jobs, services and people, while driving trade and tourism. However, it also brings significant socioeconomic, environmental and health challenges. In most countries, public policies at all levels do not deal with transport, health, environment, and urban planning issues holistically.

    This is about to change thanks to the adoption of the first Pan-European Strategy on Transport, Health and Environment – the result of a vision that connects transport policies with health and environmental goals. The strategy, adopted today in Geneva at the 22nd session of the Steering Committee of the Transport, Health and Environment Pan-European Programme (THE PEP), lays out a road map for the transformation of transport systems by 2050, promoting sustainable urban mobility, cleaner technologies and climate resilience. This brings synergies with other UNECE initiatives, such as the Inland Transport Committee’s Strategy on Reducing Greenhouse Gas Emissions from Inland Transport.

    The strategy aims to:  

    • Recognize the positive role of transport

    The strategy recognizes the transport sector as crucial to sustainable development, promoting health as well as the quality and livability of the environment. By working together, the transport, health and environment sectors can contribute significantly to improving people’s lives.

    • Adopt a holistic approach

    National, regional and local authorities must address transport, health and environmental issues together, in order to develop integrated policies and frameworks. In some countries, financing mechanisms for public transport and infrastructure for walking and cycling are neither sustainable nor adequate. The adoption of a holistic approach will lead to more effective regulations, better budget allocations and improved living conditions.

    • Allow for tailor-made solutions

    The strategy recognizes the diverse realities across the region and calls for tailored solutions that include all stakeholders – Governments, communities, businesses and civil society – to build an inclusive, greener mobility.

    • Support the shift to public transport and active mobility  

    The strategy aims to shift the modal split from the current car-dominated model towards increased public transport and active mobility (cycling and walking). These different modes will need to be treated equally across UNECE member States, with sustainable transport solutions being applied to rural and peri-urban areas. Cargo and freight transport will also become more sustainable. The approach to transport demand will promote proximity to services and enhance sustainable mobility through technology.

    • Address air and noise pollution

    Air pollution is a leading environmental risk to health, causing nearly 570,000 premature deaths in 53 countries of the region according to a 2023 World Health Organization publication. Over 90% of the region’s population is exposed to harmful levels of air pollutants, with road transport being a major source of such pollutants through exhaust and non-exhaust emissions. Road transport accounts for about 25% of energy-related greenhouse gas emissions and is thus a key contributor to climate change.

    The current shift towards vehicle electrification and fleet renewals will allow for the transition to cleaner mobility. At present, transport is the principal source of background noise pollution in urban areas in the region.

    • Maximize health benefits

    Active mobility can significantly reduce health risks, in particular obesity and non-communicable diseases, lessening the burden on healthcare systems. Expanding green spaces and infrastructure for active mobility will also foster mental well-being through greater social interaction.

    • Reinforce social inclusion  

    Lower-income groups tend to live in areas with poorer transport infrastructure, limiting access to services, jobs and social activities. Transport systems also often fail to address the varying needs of people according to gender, age and ability. Road traffic accidents are the main cause of death among people aged 5–29 years worldwide.

    The strategy emphasizes the inclusion of gender, age and disability needs in transport planning, ensuring that mobility is accessible to all. Green finance and fiscal incentives will have an important role to play in driving investment in sustainable transport, creating jobs, and stimulating the economy.

    • Collect and manage data

    The lack or limited quality of data is a recurring challenge and one of the most serious obstacles to informed policymaking in some UNECE member States. This prevents an objective assessment of the impact of transport on the environment and health from being carried out.

    Consistent data on transport, greenhouse gas emissions and mobility will inform policy across the region.

     

    In implementing the Strategy, under the framework of THE PEP, member States will also work on:

    • Directing investments, fiscal incentives and green finance initiatives towards sustainable transport, stimulating job creation and the economy;
    • Making the most of digitalization of transport and mobility services;
    • Increasing the resilience of transport systems to climate change, pandemics and other disasters.

    The next step will be for member States, within the framework of THE PEP and with other stakeholders, to discuss how to implement the Strategy and mobilize the appropriate resources to facilitate implementation, drawing on the knowledge-sharing and good practices of each member State.

    Note to editors

    At the Fifth High-level Meeting on Transport, Health and Environment (Vienna (online), 17–18 May 2021), member States agreed to develop a comprehensive pan-European strategy on transport, health and the environment, including a clear pathway for its implementation, to achieve the agreed vision, and to guide the further work of THE PEP. The Vienna Declaration is available at https://unece.org/pep/publications/vienna-declaration.

    In addition to being the first and only international programme designed to integrate environmental and health aspects into transport, mobility and urban planning policies, THE PEP is a policy framework that brings together the transport, health and environment sectors. It is jointly serviced by UNECE and the World Health Organization Regional Office for Europe. All member States are invited to actively contribute to and support THE PEP and more information in its regard is available at https://unece.org/thepep.

    MIL OSI United Nations News –

  • MIL-OSI: Flywire Survey Uncovers Increasing Demand for Flexible, Patient-Centric Payment Solutions in U.S. Healthcare

    Source: GlobeNewswire (MIL-OSI)

    80% of respondents said they want the ability to pay for a medical bill in installments or as part of a payment plan

    60% cannot afford to pay for an unexpected illness or injury in one lump sum

    Additional Flywire research shows improving the patient payment experience can boost a hospital’s bottom line

    BOSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) — Flywire Corporation (Nasdaq: FLYW), a global payments enablement and software company, has released its new report, Is Paying for Healthcare Consumer Friendly Yet? examining the topic of healthcare affordability and accessibility among patients in the U.S. The research highlights a significant disconnect between patient expectations and current billing practices in U.S. healthcare, and uncovers opportunities for healthcare providers to both improve the patient payment experience and increase collections.

    “Our research found that patients want medical statements that are easier to understand, the ability to pay bills securely online, and they want to pay in installments of longer than 12 months to better manage the high cost of healthcare,” said John Talaga, EVP and GM of Healthcare, Flywire. “By meeting these demands, hospitals and health systems can not only boost patient satisfaction but also protect the financial health of their organization, as we know that patients satisfied with the financial aspect of their care are more likely to pay their bill, return for service and refer their friends. Flywire helps providers engage patients at every stage of the financial journey, with easy to understand, affordable payment options – streamlining the collections process, while helping patients feel more in control of their medical expenses.”

    Patients Are Stressed About High and Unexpected Medical Costs

    With 89% of Americans concerned about rising medical costs, it’s no surprise that understanding bills has become a top priority for patients. 75% of those surveyed said medical bills are too complicated, up from 65% in 2021. Patients are also stressed about unexpected medical bills that may loom in the future: 60% of those surveyed said they cannot afford to pay for an unexpected illness or injury in one lump sum, which increased from 46% in 2021.

    Patients also emphasized the need for bills to be clearer, with many expressing a desire for simplified, easy-to-read statements that outline charges and payment options more effectively. In fact, nearly everyone surveyed (95%) agreed that there needs to be a better way to simplify and pay for medical bills.

    Patients want payment plans and financing options to help them afford medical bills

    93% say it should be easier to pay their medical bills over time. Those with a child in the household are more likely to say they would want to pay in installments than those without a child in the household (84% vs. 79%).

    81% said they would want to have the ability to pay for a medical expense over time – in installments or as part of a payment plan. Respondents cited both longer terms to pay and financing options as ways to make paying for medical bills more affordable, with 38% saying they would prefer to pay medical bills over 12 or 18 months, and 85% of respondents saying they wish they had consumer-friendly options, like buy-now, pay-later.

    Patients weigh payment security in healthcare payment decisions

    Security remains a top concern for American healthcare patients, with 67% of respondents worried about the potential for healthcare payment data breaches. This concern is exacerbated by the fact that 31% have already received notifications of a breach involving their healthcare or personal information, so it’s no surprise that 59% of patients are more concerned about payment security now than they were a few years ago.

    7 ways Flywire solves patients’ biggest payment concerns and boost health systems’ bottom lines

    Flywire’s solutions are designed to optimize the patient financial experience for health systems throughout the U.S., providing patients with a personalized pathway to pay off their balance that’s fully customized to meet every patient’s unique financial needs. And more data suggests that improving the payment experience is core to protecting the financial health of hospitals and health systems. A separate Total Economic Impact analysis showed that by using Flywire’s patient financial engagement platform, healthcare organizations increased revenue by 29% and reduced bad debt as a percentage of net revenue from 5.5% to 4%. Other Flywire clients have reported to reduce their cost per patient payment by 43%.

    As one client put it:

    “Implementing Flywire has been one of the best decisions we’ve made as an organization, because we have seen it in the feedback from our patients. We see, ‘Thank you for making the statements easy to understand,’ because patients weren’t understanding our statements. And ‘Thank you for having the option to go online and pay and be able to set up payment plans and make arrangements,’” said Sonya Turner, Senior Director Patient Accounting, Centra Healthcare

    Additionally, Flywire helps healthcare systems:

    1. Deliver more payment plan options with personalized payment plans that are tailored to patient financial capacity.

    2. Extend collection terms beyond 12 months with non-recourse, integrated financing.

    3. Provide a single platform for in-house and outsourced payment plans.

    4. Provide a single portal to make payments by integrating with an EHR strategy for a single-sign on experience

    5. Provide a secure way to pay online. Ensure compliance with regulatory and industry standards, such as HIPAA and PCI DSS v 4.0, and more.

    6. Increase self-pay collection

    7. Reduce time spent dealing with accounts receivable.

    To view the complete report, please visit here

    About Flywire

    Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.

    Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

    Flywire supports more than 4,000 clients with diverse payment methods in more than 140 currencies across more than 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X , LinkedIn and Facebook.

    Safe Harbor Statement

    This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s expectations regarding the benefits of its solutions to healthcare patients, Flywire’s business strategy and plans, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire’s forward-looking statements include, among others, the factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Flywire’s Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at https://www.sec.gov/. Additional factors may be described in those sections of Flywire’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, expected to be filed with the SEC in the fourth quarter of 2024. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Media Contacts

    Sarah King
    media@flywire.com

    Investor Relations Contact:

    Masha Kahn
    IR@Flywire.com

    The MIL Network –

  • MIL-OSI Security: Marystown — Man injured by shot from small game rifle, Burin Peninsula RCMP looks to identify hunters in area of Grand Le Pierre

    Source: Royal Canadian Mounted Police

    Following the report of a gunshot injury sustained to an individual on the afternoon of October 26, 2024, Burin Peninsula RCMP is looking to identify hunters or any other individuals who may have been present when the incident occurred. The hunting area is located off Route 211, approximately 3 kilometers North/East of the community of Grand La Pierre.

    At approximately 3:30 p.m. on Saturday, Burin Peninsula RCMP received the report of a gunshot injury from the Burin Peninsula Health Care Centre. A man attended the hospital informing that he had been shot while scouting out the area to set some rabbit snares. A 22-Calibre round was removed from the man who was treated for minor injuries. The incident is believed to have occurred sometime earlier that afternoon between 1:00-1:30 p.m.

    No persons or vehicles were observed by the injured man. Police attended the described location but were unable to locate anyone in the area.

    The investigation is continuing.

    Anyone who may have been in the area on Saturday afternoon or who may have information about this incident is asked to contact Burin Peninsula RCMP at 709-279-3001. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.

    MIL Security OSI –

  • MIL-OSI: First Financial Northwest, Inc. Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    RENTON, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) — First Financial Northwest, Inc. (the “Company”) (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the “Bank”), today reported a net loss of $608,000, or $(0.07) per diluted share, for the quarter ended September 30, 2024, compared to net income of $1.6 million, or $0.17 per diluted share, for the quarter ended June 30, 2024, and net income of $1.5 million, or $0.16 per diluted share, for the quarter ended September 30, 2023. For the nine months ended September 30, 2024, the Company reported a net loss of $128,000, or $(0.01) per diluted share, compared to net income of $5.1 million, or $0.56 per diluted share, for the comparable period in 2023.

    The net loss for the quarter was primarily the result of a $1.6 million provision for credit losses. Our allowance for credit losses (“ACL”) analysis determined that a provision for credit losses of $1.6 million was appropriate as of September 30, 2024. This provision mainly relates to two participation loans totaling $6.0 million, for which we are not the lead lender. These loans, secured by short-term rehabilitation and assisted living facilities, have been individually evaluated and classified as “substandard” since March 2022 due to a decline in demand for the services provided at such facilities post-COVID. While payments on the loans were current as of September 30, 2024, updated appraisals received during the quarter resulted in an increase in our ACL. The loan guarantors are under contract to sell another property, with the sale expected to close in the fourth quarter of 2024. Proceeds from this sale are expected to be applied to the two loans, which would improve our position. Additionally, the guarantors reported interest from a national real estate developer in purchasing one of the facilities, though no purchase agreement was entered into as of September 30, 2024. The ACL was also impacted by higher forecasted unemployment rates and increased construction and land development loan balances. Additionally, reserves for unfunded commitments increased by $75,000 due to increased construction lending activity during the quarter.

    “While we recorded a provision for credit losses during the quarter ended September 30, 2024, our credit quality remained strong, with only $853,000 in nonaccrual loans relative to our $1.14 billion total loan portfolio. Our strong credit quality is directly related to our top-notch lending department employees who originate, document and underwrite these loans,” stated Joseph W. Kiley III, President and CEO.

    “We also continue to work closely with Global Federal Credit Union (“Global”) to prepare for the closing of the pending transaction and to ensure a smooth transition for our customers and employees. I truly appreciate the efforts and patience of our employees, customers, and shareholders as we await the final required approval from the National Credit Union Administration before we can close the transaction,” concluded Kiley.

    Highlights for the quarter ended September 30, 2024:

    • Net loans receivable totaled $1.13 billion at September 30, 2024, down $8.9 million from the prior quarter end.
    • Book value per share was $17.39 at September 30, 2024, compared to $17.51 at June 30, 2024, and $17.35 at September 30, 2023.
    • The Bank’s Tier 1 leverage and total capital ratios were 10.9% and 16.7% at September 30, 2024, compared to 10.9% and 16.6% at June 30, 2024, and 10.3% and 16.0% at September 30, 2023, respectively.
    • Credit quality remained strong with nonaccrual loans totaling only $853,000, or 0.07% of total loans.
    • A $1.6 million provision for credit losses was recorded in the current quarter, compared to a $200,000 recapture of provision for credit losses in the prior quarter and a $300,000 recapture of provision for credit losses in the comparable quarter in 2023.

    Deposits totaled $1.17 billion at September 30, 2024, compared to $1.09 billion at June 30, 2024, and $1.21 billion at September 30, 2023. The $79.2 million increase in deposits at September 30, 2024, compared to June 30, 2024, was due primarily to a $81.9 million increase in retail certificates of deposit and a $624,000 increase in noninterest-bearing demand deposits, partially offset by a $1.5 million, $1.4 million, $392,000, and $104,000 decline in interest-bearing demand deposits, money market deposits, savings and brokered deposits, respectively. The increased deposits were used to pay down our FHLB advances to $100.0 million at September 30, 2024, from $176.0 million at June 30, 2024.

    Advances from the FHLB totaled $100.0 million at September 30, 2024, down from $176.0 million at June 30, 2024, and $125.0 million at September 30, 2023, as the increase in deposits during the current quarter allowed us to reduce our reliance on FHLB advances. At September 30, 2024, the $100.0 million in FHLB advances were tied to cash flow hedge agreements where the Bank pays a fixed rate and receives a variable rate in return to assist in the Bank’s interest rate risk management efforts. These cash flow hedge agreements had a weighted average remaining term of 30.8 months and a weighted average fixed interest rate of 1.93% as of September 30, 2024. The average cost of borrowings was 3.19% for the quarter ended September 30, 2024, compared to 2.64% for the quarter ended June 30, 2024, and 2.42% for the quarter ended September 30, 2023.

    The following table presents a breakdown of our total deposits (unaudited):

      Sep 30,
    2024    		   Jun 30,
    2024    		   Sep 30,
    2023    		   Three
    Month
    Change    		   One
    Year
    Change
    Deposits: (Dollars in thousands)
    Noninterest-bearing demand $ 100,466   $ 99,842   $ 104,164   $ 624     $ (3,698 )
    Interest-bearing demand   55,506     57,033     60,816     (1,527 )     (5,310 )
    Savings   17,031     17,423     18,844     (392 )     (1,813 )
    Money market   495,978     497,345     501,168     (1,367 )     (5,190 )
    Certificates of deposit, retail   447,474     365,527     349,446     81,947       98,028  
    Brokered deposits   50,900     51,004     175,972     (104 )     (125,072 )
    Total deposits $ 1,167,355   $ 1,088,174   $ 1,210,410   $ 79,181     $ (43,055 )
     

    The following tables present an analysis of total deposits by branch office (unaudited):

    September 30, 2024
      Noninterest-bearing demand Interest-bearing demand Savings Money
    market    		 Certificates of deposit, retail Brokered
    deposits    		 Total
      (Dollars in thousands)
    King County              
    Renton $ 29,388 $ 14,153 $ 10,654 $ 305,836 $ 315,721 $ – $ 675,752
    Landing   3,442   1,660   237   8,348   12,733   –   26,420
    Woodinville   1,968   2,234   959   8,852   11,522   –   25,535
    Bothell   2,965   1,151   401   1,536   5,918   –   11,971
    Crossroads   14,770   2,039   107   31,665   18,136   –   66,717
    Kent   5,417   10,502   44   16,053   8,562   –   40,578
    Kirkland   10,967   1,890   206   11,243   2,240   –   26,546
    Issaquah   1,186   294   18   2,547   6,580   –   10,625
    Total King County   70,103   33,923   12,626   386,080   381,412   –   884,144
    Snohomish County              
    Mill Creek   3,990   2,171   384   14,628   10,312   –   31,485
    Edmonds   9,254   6,831   330   18,549   13,281   –   48,245
    Clearview   5,587   5,242   1,462   21,206   12,251   –   45,748
    Lake Stevens   3,970   4,282   1,244   23,257   15,571   –   48,324
    Smokey Point   2,994   1,664   969   29,353   11,387   –   46,367
    Total Snohomish County   25,795   20,190   4,389   106,993   62,802   –   220,169
    Pierce County              
    University Place   2,940   53   4   1,848   1,458   –   6,303
    Gig Harbor   1,628   1,340   12   1,057   1,802   –   5,839
    Total Pierce County   4,568   1,393   16   2,905   3,260   –   12,142
                   
    Brokered deposits   –   –   –   –   –   50,900   50,900
                   
    Total deposits $ 100,466 $ 55,506 $ 17,031 $ 495,978 $ 447,474 $ 50,900 $ 1,167,355
    June 30, 2024
      Noninterest-bearing demand Interest-bearing demand Savings Money
    market    		 Certificates of deposit, retail Brokered
    deposits    		 Total
      (Dollars in thousands)
    King County              
    Renton $ 30,336 $ 14,380 $ 11,186 $ 306,176 $ 246,076 $ – $ 608,154
    Landing   2,079   566   113   7,895   9,881   –   20,534
    Woodinville   1,953   2,949   987   10,931   10,845   –   27,665
    Bothell   3,336   847   398   1,595   6,055   –   12,231
    Crossroads   13,585   2,858   28   25,599   17,748   –   59,818
    Kent   7,729   8,142   42   14,525   7,448   –   37,886
    Kirkland   8,326   1,789   210   15,007   1,752   –   27,084
    Issaquah   1,287   232   22   3,971   6,202   –   11,714
    Total King County   68,631   31,763   12,986   385,699   306,007   –   805,086
    Snohomish County              
    Mill Creek   5,823   2,306   420   15,209   9,578   –   33,336
    Edmonds   10,418   9,470   402   20,255   12,753   –   53,298
    Clearview   4,810   4,888   1,444   18,695   9,504   –   39,341
    Lake Stevens   4,111   4,445   1,171   22,618   14,090   –   46,435
    Smokey Point   2,700   3,152   982   31,808   10,435   –   49,077
    Total Snohomish County   27,862   24,261   4,419   108,585   56,360   –   221,487
    Pierce County              
    University Place   2,385   41   2   1,819   1,503   –   5,750
    Gig Harbor   964   968   16   1,242   1,657   –   4,847
    Total Pierce County   3,349   1,009   18   3,061   3,160   –   10,597
                   
    Brokered deposits   –   –   –   –   –   51,004   51,004
                   
    Total deposits $ 99,842 $ 57,033 $ 17,423 $ 497,345 $ 365,527 $ 51,004 $ 1,088,174
     

    Net loans receivable totaled $1.13 billion at September 30, 2024, compared to $1.14 billion at June 30, 2024, and $1.17 billion at September 30, 2023. During the quarter ended September 30, 2024, loan repayments outpaced new loan fundings across all loan categories except construction and land development. The average balance of net loans receivable totaled $1.13 billion for the quarter ended September 30, 2024, compared to $1.14 billion for the quarter ended June 30, 2024, and $1.17 billion for the quarter ended September 30, 2023.

    The ACL represented 1.42% of total loans receivable at September 30, 2024, compared to 1.29% at both June 30, 2024, and September 30, 2023.

    Nonaccrual loans totaled $853,000 at September 30, 2024, compared to $4.7 million at June 30, 2024, and $201,000 at September 30, 2023. The decrease compared to the prior quarter was due primarily to the payoff of a $4.1 million commercial real estate loan that had been reported as nonaccrual as of June 30, 2024. The Bank did not incur any loss related to this credit. Additionally, there was no other real estate owned at September 30, 2024, June 30, 2024, or September 30, 2023.

    Net interest income totaled $8.5 million for the quarter ended September 30, 2024, compared to $9.0 million for the quarter ended June 30, 2024, and $9.7 million for the quarter ended September 30, 2023.

    Total interest income was $19.4 million for the quarter ended September 30, 2024, compared to $19.3 million for the quarter ended June 30, 2024, and $19.7 million for the quarter ended September 30, 2023. The increase in total interest income during the current quarter was primarily due to interest income on interest-earning deposits held with banks which increased to $863,000 in the quarter ended September 30, 2024, up 79.0% from $482,000 in the quarter ended June 30, 2024, partially offset by decreases in interest income on loans and investments of $147,000 or 0.9% and $142,000 or 7.5%, respectively. The decrease in total interest income during the current quarter compared to the comparable quarter in 2023, was primarily due to decreases in interest income on loans of $260,000 or 1.5% and on investments of $374,000 or 17.7%, partially offset by increases in interest income on interest-earning deposits held with banks and dividends on FHLB stock of $338,000 or 64.4% and $37,000 or 32.7%, respectively.

    Yield on loans decreased to 5.86% during the recent quarter from 5.93% for the quarter ended June 30, 2024, and increased from 5.73% for the quarter ended September 30, 2023. During the June 30, 2024 quarter, the Bank modified over $130 million in loans under its agreement with Global, resulting in a $214,000 increase in net deferred loan fees and costs, which increased the loan yield. In the most recent quarter, these fees and costs decreased by $266,000. The yield on investment securities for the current quarter was 4.30%, down from 4.38% last quarter and up from 3.98% a year ago.

    Total interest expense was $11.0 million for the quarter ended September 30, 2024, compared to $10.3 million for the quarter ended June 30, 2024, and $10.0 million for the quarter ended September 30, 2023. The increase from the quarters ended June 30, 2024 and September 30, 2023, was due to increases in funding costs. Interest expense on deposits increased $250,000 or 2.6% to $9.7 million, while interest expense on other borrowings increased $364,000 or 42.9% to $1.2 million during the current quarter, compared to the prior quarter. The increase in interest expense on deposits was primarily due to a $32.5 million increase in the average balances of certificates of deposit, partially offset by declines of $28.9 million and $10.7 million in the average balances of brokered deposits and money market deposits, respectively. In addition, the average cost of interest-bearing deposits was 3.80% for the quarter ended September 30, 2024, up from 3.71% for the quarter ended June 30, 2024. The increase in interest expense on other borrowings was due to a $22.4 million increase in the average balance of borrowings, coupled with a 55-basis point increase in the average cost of other borrowings to 3.19% during the quarter ended September 30, 2024, compared to the prior quarter. The increase in interest expense during the current quarter compared to the same quarter in 2023, was also due to increases in both the average balance and cost of outstanding borrowings, which increased by $26.1 million and 77 basis points, respectively.

    Net interest margin was 2.46% for the quarter ended September 30, 2024, compared to 2.66% for the quarter ended June 30, 2024, and 2.69% for the quarter ended September 30, 2023. The decrease in the net interest margin for the quarter ended September 30, 2024, was due primarily to continued pressure on funding costs. The average yield on interest-earning assets decreased seven basis points to 5.66% during the quarter ended September 30, 2024, from 5.73% during the quarter ended June 30, 2024, and increased 20 basis points from 5.46% during the quarter ended September 30, 2023. The average cost of interest-bearing liabilities increased 13 basis points to 3.72% during the quarter, from 3.59% during the quarter ended June 30, 2024, and increased 48 basis points from 3.24% during the quarter ended September 30, 2023. The net interest margin for the month of September 2024 was 2.49%.

    Noninterest income for the quarter ended September 30, 2024, totaled $677,000, up slightly from $673,000 for the quarter ended June 30, 2024, and unchanged from $677,000 for the quarter ended September 30, 2023. The increase compared to the quarter ended June 30, 2024, was primarily due to fluctuations related to our fintech focused venture capital investment more than offsetting the decreases in BOLI income, wealth management revenue and deposit and loan related fees in the quarter.

    Noninterest expense totaled $8.5 million for the quarter ended September 30, 2024, compared to $7.9 million for the prior quarter, and $8.8 million for the same period in 2023. The increase from the June 30, 2024 quarter was primarily due to a $789,000 increase in salaries and employee benefits. This was because the June 2024 quarter included $939,000 in deferred loan costs related to loan modifications, which reduced salary and employee benefit expenses, compared to $117,000 in deferred loan costs in the quarter ended September 30, 2024. Partially offsetting this was a $411,000 refund from the defined benefit plan buyout following a final census review of remaining plan participants. Professional fees also declined by $164,000 in the current quarter, largely due to a $101,000 decline in transaction-related expenses and a $54,000 decline in legal fees. Compared to the September 30, 2023 quarter, the decline in noninterest expense was primarily due to a $412,000 decrease in salaries and employee benefits, a $51,000 decrease in marketing expenses, a $35,000 decline in regulatory assessments, and $10,000 in lower occupancy and equipment expense. These reductions were partially offset by higher data processing, other general and administrative expenses and professional fees.

    First Financial Northwest, Inc. is the parent company of First Financial Northwest Bank; an FDIC insured Washington State-chartered commercial bank headquartered in Renton, Washington, serving the Puget Sound Region through 15 full-service banking offices. For additional information about us, please visit our website at ffnwb.com and click on the “Investor Relations” link at the bottom of the page.

    Forward-looking statements:
    When used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent management’s current expectations and forecasts regarding future events many of which are inherently uncertain and outside of our control. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about, among other things, our pending transaction with Global Federal Credit Union (“Global”) whereby Global, pursuant to the definitive purchase and assumption agreement (the “P&A Agreement”), will acquire substantially all of the assets and assume substantially all of the liabilities of the Bank, expectations of the business environment in which we operate, projections of future performance or financial items, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based on current management expectations and may, therefore, involve risks and uncertainties. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements made by, or on behalf of, us and could negatively affect our operating and stock performance. Factors that could cause our actual results to differ materially from those described in the forward-looking statements, include, but are not limited to, the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or all of the parties to terminate the P&A Agreement; delays in completing the P&A Agreement; the failure to obtain necessary regulatory approvals or to satisfy any of the other conditions to the Global transaction, including the P&A Agreement, on a timely basis or at all; delays or other circumstances arising from the dissolution of the Bank and the Company following completion of the P&A Agreement; diversion of management’s attention from ongoing business operations and opportunities during the pending Global transaction; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement of the Global transaction; 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 recession or slowed economic growth; changes in the interest rate environment, including increases or decreases in the Federal Reserve benchmark rate and duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the current and future monetary policies of the Federal Reserve in response thereto; the effects of any federal government shutdown; increased competitive pressures; legislative and regulatory changes; 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; 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; effects of critical accounting policies and judgments, including the use of estimates in determining the fair value of certain of our assets, which estimates may prove to be incorrect and result in significant declines in valuation; the effects 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; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the Securities and Exchange Commission – that are available on our website at www.ffnwb.com and on the SEC’s website at www.sec.gov.

    Any of the forward-looking statements that we make in this Press Release and in the other public statements are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    For more information, contact:
    Joseph W. Kiley III, President and Chief Executive Officer
    Rich Jacobson, Executive Vice President and Chief Financial Officer
    (425) 255-4400

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
    Consolidated Balance Sheets
    (Dollars in thousands)
    (Unaudited)
     
    Assets Sep 30,
    2024    		   Jun 30,
    2024    		   Sep 30,
    2023    		   Three
    Month
    Change    		   One
    Year
    Change
                       
    Cash on hand and in banks $ 8,423     $ 10,811     $ 8,074     (22.1 )%   4.3 %
    Interest-earning deposits with banks   72,884       48,173       49,618     51.3     46.9  
    Investments available-for-sale, at fair value   156,609       160,693       204,975     (2.5 )   (23.6 )
    Investments held-to-maturity, at amortized cost   2,462       2,456       2,450     0.2     0.5  
    Loans receivable, net of allowance of $16,265, $14,796, and $15,306 respectively   1,126,146       1,135,067       1,168,079     (0.8 )   (3.6 )
    Federal Home Loan Bank (“FHLB”) stock, at cost   5,403       8,823       6,803     (38.8 )   (20.6 )
    Accrued interest receivable   6,638       6,632       7,263     0.1     (8.6 )
    Deferred tax assets, net   2,690       2,360       3,156     14.0     (14.8 )
    Premises and equipment, net   18,584       19,007       19,921     (2.2 )   (6.7 )
    Bank owned life insurance (“BOLI”), net   38,661       38,368       37,398     0.8     3.4  
    Prepaid expenses and other assets   8,898       11,447       13,673     (22.3 )   (34.9 )
    Right of use asset (“ROU”), net   2,473       2,670       2,818     (7.4 )   (12.2 )
    Goodwill   889       889       889     0.0     0.0  
    Core deposit intangible, net   326       357       451     (8.7 )   (27.7 )
    Total assets $ 1,451,086     $ 1,447,753     $ 1,525,568     0.2     (4.9 )
                       
    Liabilities and Stockholders’ Equity                  
                       
    Deposits                  
    Noninterest-bearing deposits $ 100,466     $ 99,842     $ 104,164     0.6     (3.6 )
    Interest-bearing deposits   1,066,889       988,332       1,106,246     7.9     (3.6 )
    Total deposits   1,167,355       1,088,174       1,210,410     7.3     (3.6 )
    Advances from the FHLB   100,000       176,000       125,000     (43.2 )   (20.0 )
    Advance payments from borrowers for taxes and insurance   5,211       2,764       4,760     88.5     9.5  
    Lease liability, net   2,673       2,866       3,011     (6.7 )   (11.2 )
    Accrued interest payable   294       1,117       2,646     (73.7 )   (88.9 )
    Other liabilities   15,340       16,139       20,506     (5.0 )   (25.2 )
    Total liabilities   1,290,873       1,287,060       1,366,333     0.3     (5.5 )
                       
    Commitments and contingencies                  
                       
    Stockholders’ Equity                  
    Preferred stock, $0.01 par value; authorized 10,000,000 shares; no shares issued or outstanding   –       –       –     n/a   n/a
    Common stock, $0.01 par value; authorized 90,000,000 shares; issued and outstanding                  
    9,213,969 shares at September 30, 2024; 9,179,825 shares at June 30, 2024; and 9,179,510 shares at September 30, 2023   92       92       92     0.0     0.0  
    Additional paid-in capital   72,916       72,953       72,926     (0.1 )   (0.0 )
    Retained earnings   93,692       94,300       96,206     (0.6 )   (2.6 )
    Accumulated other comprehensive loss, net of tax   (6,487 )     (6,652 )     (9,989 )   (2.5 )   (35.1 )
    Total stockholders’ equity   160,213       160,693       159,235     (0.3 )   0.6  
    Total liabilities and stockholders’ equity $ 1,451,086     $ 1,447,753     $ 1,525,568     0.2 %   (4.9 )%
    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
    Consolidated Income Statements
    (Dollars in thousands, except per share data)
    (Unaudited)
     
      Quarter Ended        
      Sep 30,
    2024    		   Jun 30,
    2024    		   Sep 30,
    2023    		   Three
    Month
    Change    		   One
    Year
    Change
    Interest income                  
    Loans, including fees $ 16,658     $ 16,805     $ 16,918     (0.9 )%   (1.5 )%
    Investments   1,744       1,886       2,118     (7.5 )   (17.7 )
    Interest-earning deposits with banks   863       482       525     79.0     64.4  
    Dividends on FHLB Stock   150       144       113     4.2     32.7  
    Total interest income   19,415       19,317       19,674     0.5     (1.3 )
    Interest expense                  
    Deposits   9,748       9,498       9,205     2.6     5.9  
    Other borrowings   1,213       849       766     42.9     58.4  
    Total interest expense   10,961       10,347       9,971     5.9     9.9  
    Net interest income   8,454       8,970       9,703     (5.8 )   (12.9 )
    Provision (recapture of provision) for credit losses   1,575       (200 )     (300 )   (887.5 )   (625.0 )
    Net interest income after provision (recapture of provision) for credit losses   6,879       9,170       10,003     (25.0 )   (31.2 )
                       
    Noninterest income                  
    BOLI income   295       310       244     (4.8 )   20.9  
    Wealth management revenue   42       54       53     (22.2 )   (20.8 )
    Deposit related fees   236       240       247     (1.7 )   (4.5 )
    Loan related fees   96       97       79     (1.0 )   21.5  
    Other income (expense), net   8       (28 )     54     (128.6 )   (85.2 )
    Total noninterest income   677       673       677     0.6     0.0  
                       
    Noninterest expense                  
    Salaries and employee benefits   4,606       3,817       5,018     20.7     (8.2 )
    Occupancy and equipment   1,183       1,225       1,193     (3.4 )   (0.8 )
    Professional fees   585       749       553     (21.9 )   5.8  
    Data processing   838       856       742     (2.1 )   12.9  
    Regulatory assessments   165       170       200     (2.9 )   (17.5 )
    Insurance and bond premiums   113       118       111     (4.2 )   1.8  
    Marketing   46       47       97     (2.1 )   (52.6 )
    Other general and administrative   952       959       856     (0.7 )   11.2  
    Total noninterest expense   8,488       7,941       8,770     6.9     (3.2 )
    (Loss) income before federal income tax (benefit) provision   (932 )     1,902       1,910     (149.0 )   (148.8 )
    Federal income tax (benefit) provision   (324 )     347       409     (193.4 )   (179.2 )
    Net (loss) income $ (608 )   $ 1,555     $ 1,501     (139.1 )%   (140.5 )%
                       
    Basic (loss) earnings per share $ (0.07 )   $ 0.17     $ 0.16          
    Diluted (loss) earnings per share $ (0.07 )   $ 0.17     $ 0.16          
    Weighted average number of common shares outstanding   9,190,146       9,168,414       9,127,568          
    Weighted average number of diluted shares outstanding   9,190,146       9,235,446       9,150,059          
     

    The following table presents a breakdown of the loan portfolio (unaudited):

      September 30, 2024 June 30, 2024 September 30, 2023
      Amount   Percent   Amount   Percent   Amount   Percent
      (Dollars in thousands)
    Commercial real estate:                      
    Residential:                      
    Multifamily $ 132,811     11.6 %   $ 134,302     11.7 %   $ 140,022     11.7 %
    Total multifamily residential   132,811     11.6       134,302     11.7       140,022     11.7  
                           
    Non-residential:                      
    Retail   118,840     10.4       118,154     10.4       130,101     11.0  
    Office   73,778     6.5       74,032     6.4       72,773     6.1  
    Hotel / motel   54,716     4.8       55,018     4.8       63,954     5.4  
    Storage   32,443     2.8       32,636     2.8       33,229     2.8  
    Mobile home park   22,443     2.0       23,159     2.0       21,285     1.8  
    Warehouse   18,743     1.6       18,868     1.6       19,446     1.6  
    Nursing Home   11,407     1.0       11,474     1.0       11,676     1.0  
    Other non-residential   30,719     2.7       32,139     2.8       42,227     3.7  
    Total non-residential   363,089     31.8       365,480     31.8       394,691     33.4  
                           
    Construction/land:                      
    One-to-four family residential   42,846     3.8       39,908     3.5       43,532     3.7  
    Multifamily   7,227     0.6       6,078     0.5       2,043     0.2  
    Land development   10,148     0.8       9,800     0.8       9,766     0.8  
    Total construction/land   60,221     5.2       55,786     4.8       55,341     4.7  
                           
    One-to-four family residential:                      
    Permanent owner occupied   279,744     24.5       283,516     24.7       260,970     22.1  
    Permanent non-owner occupied   221,127     19.4       225,423     19.6       232,238     19.6  
    Total one-to-four family residential   500,871     43.9       508,939     44.3       493,208     41.7  
                           
    Business:                      
    Aircraft   –     0.0       –     0.0       1,981     0.2  
    Small Business Administration (“SBA”)   1,745     0.2       1,763     0.2       1,810     0.3  
    Paycheck Protection Plan (“PPP”)   238     0.0       316     0.0       551     0.0  
    Other business   12,416     1.1       12,984     1.1       23,633     1.9  
    Total business   14,399     1.3       15,063     1.3       27,975     2.4  
                           
    Consumer:                      
    Classic, collectible and other auto   58,085     5.1       56,758     4.9       59,955     5.1  
    Other consumer   12,935     1.1       13,535     1.2       12,193     1.0  
    Total consumer   71,020     6.2       70,293     6.1       72,148     6.1  
                           
    Total loans   1,142,411     100.0 %     1,149,863     100.0 %     1,183,385     100.0 %
    Less:                      
    ACL   16,265           14,796           15,306      
    Loans receivable, net $ 1,126,146         $ 1,135,067         $ 1,168,079      
                           
    Concentrations of credit: (1)                      
    Construction loans as % of total capital   36.8 %         34.8 %         37.8 %    
    Total non-owner occupied commercial
    real estate as % of total capital    		   296.2 %         298.8 %         328.1 %    
     

    (1) Concentrations of credit percentages are for First Financial Northwest Bank only using classifications in accordance with FDIC regulatory guidelines.

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
    Key Financial Measures
    (Unaudited)
     
      At or For the Quarter Ended
      Sep 30,   Jun 30,   Mar 31,   Dec 31,   Sep 30,
        2024       2024       2024       2023       2023  
      (Dollars in thousands, except per share data)
    Performance Ratios: (1)                  
    Return on assets   (0.17 )%     0.43 %     (0.29 )%     0.31 %     0.39 %
    Return on equity   (1.50 )     3.88       (2.67 )     2.97       3.71  
    Dividend payout ratio   0.00       76.47       (108.33 )     100.00       79.26  
    Equity-to-assets ratio   11.04       11.10       10.91       10.74       10.44  
    Tangible equity ratio (2)   10.97       11.02       10.83       10.66       10.36  
    Net interest margin   2.46       2.66       2.55       2.54       2.69  
    Average interest-earning assets to average interest-bearing liabilities   116.46       117.01       116.40       115.84       116.94  
    Efficiency ratio   92.96       82.35       116.97       85.17       84.49  
    Noninterest expense as a percent of average total assets   2.32       2.21       3.05       2.18       2.29  
    Book value per common share $ 17.39     $ 17.51     $ 17.46     $ 17.61     $ 17.35  
    Tangible book value per share (2)   17.26       17.37       17.32       17.47       17.20  
                       
    Capital Ratios: (3)                  
    Tier 1 leverage ratio   10.86 %     10.91 %     10.41 %     10.18 %     10.25 %
    Common equity tier 1 capital ratio   15.43       15.39       14.98       14.90       14.75  
    Tier 1 capital ratio   15.43       15.39       14.98       14.90       14.75  
    Total capital ratio   16.68       16.64       16.24       16.15       16.00  
                       
    Asset Quality Ratios: (4)                  
    Nonaccrual loans as a percent of total loans   0.07 %     0.41 %     0.02 %     0.02 %     0.02 %
    Nonaccrual loans as a percent of total assets   0.06       0.32       0.01       0.01       0.01  
    ACL as a percent of total loans   1.42       1.29       1.30       1.28       1.29  
    Net charge-offs to average loans receivable, net   0.00       0.00       0.00       0.00       0.00  
                       
    Allowance for Credit Losses:                  
    ACL ‒ loans                  
    Beginning balance $ 14,796     $ 14,996     $ 15,306     $ 15,306     $ 15,606  
    Provision (recapture of provision) for credit losses   1,500       (200 )     (300 )     –       (300 )
    Charge-offs   (31 )     –       (10 )     –       –  
    Recoveries   –       –       –       –       –  
    Ending balance $ 16,265     $ 14,796     $ 14,996     $ 15,306     $ 15,306  
                       
    Allowance for unfunded commitments                  
    Beginning balance $ 564     $ 564     $ 439     $ 439     $ 439  
    Provision for credit losses   75       –       125       –       –  
    Ending balance $ 639     $ 564     $ 564     $ 439     $ 439  
                       
    Provision (recapture of provision) for credit losses                  
    ACL – loans $ 1,500     $ (200 )   $ (300 )   $ –     $ (300 )
    Allowance for unfunded commitments   75       –       125       –       –  
    Total $ 1,575     $ (200 )   $ (175 )   $ –     $ (300 )
     

    (1) Performance ratios are calculated on an annualized basis.
    (2) Non-GAAP financial measures. Refer to Non-GAAP Financial Measures at the end of this press release for a reconciliation to the nearest GAAP equivalents.
    (3) Capital ratios are for First Financial Northwest Bank only.
    (4) Loans are reported net of undisbursed funds.

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
    Key Financial Measures
    (Unaudited)
     
      At or For the Quarter Ended
      Sep 30,   Jun 30,   Mar 31,   Dec 31,   Sep 30,
        2024       2024       2024       2023       2023  
      (Dollars in thousands)
    Yields and Costs: (1)                  
    Yield on loans   5.86 %     5.93 %     5.88 %     5.83 %     5.73 %
    Yield on investments   4.30       4.38       4.11       4.11       3.98  
    Yield on interest-earning deposits   5.27       5.25       5.28       5.32       5.18  
    Yield on FHLB stock   7.73       8.63       7.79       7.29       6.57  
    Yield on interest-earning assets   5.66 %     5.73 %     5.62 %     5.56 %     5.46 %
                       
    Cost of interest-bearing deposits   3.80 %     3.71 %     3.69 %     3.62 %     3.33 %
    Cost of borrowings   3.19       2.64       2.65       2.40       2.42  
    Cost of interest-bearing liabilities   3.72 %     3.59 %     3.58 %     3.50 %     3.24 %
                       
    Cost of total deposits (2)   3.47 %     3.38 %     3.38 %     3.31 %     3.03 %
    Cost of funds (3)   3.44 %     3.30 %     3.31 %     3.23 %     2.97 %
                       
    Average Balances:                  
    Loans $ 1,131,473     $ 1,139,017     $ 1,160,156     $ 1,167,339     $ 1,171,483  
    Investments   161,232       173,102       202,106       206,837       211,291  
    Interest-earning deposits   65,149       36,959       37,032       65,680       40,202  
    FHLB stock   7,719       6,714       6,554       6,584       6,820  
    Total interest-earning assets $ 1,365,573     $ 1,355,792     $ 1,405,848     $ 1,446,440     $ 1,429,796  
                       
    Interest-bearing deposits $ 1,021,041     $ 1,029,608     $ 1,082,168     $ 1,127,690     $ 1,097,324  
    Borrowings   151,478       129,126       125,604       120,978       125,402  
    Total interest-bearing liabilities   1,172,519       1,158,734       1,207,772       1,248,668       1,222,726  
    Noninterest-bearing deposits   96,003       101,196       99,173       102,869       109,384  
    Total deposits and borrowings $ 1,268,522     $ 1,259,930     $ 1,306,945     $ 1,351,537     $ 1,332,110  
                       
    Average assets $ 1,453,431     $ 1,446,207     $ 1,495,753     $ 1,538,955     $ 1,522,224  
    Average stockholders’ equity   161,569       161,057       161,823       159,659       160,299  
     

    (1) Yields and costs are annualized.
    (2) Includes noninterest-bearing deposits.
    (3) Includes total borrowings and deposits (including noninterest-bearing deposits).

    Non-GAAP Financial Measures

    In addition to financial results presented in accordance with generally accepted accounting principles (“GAAP”) utilized in the United States, this earnings release contains non-GAAP financial measures that include tangible equity, tangible assets, tangible book value per share, and the tangible equity-to-assets ratio. The Company believes that these non-GAAP financial measures and ratios as presented are useful for both investors and management to understand the effects of goodwill and core deposit intangible, net and provides an alternative view of the Company’s performance over time and in comparison to the Company’s competitors. Non-GAAP financial measures have limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation and are not a substitute for other measures in this earnings release that are presented in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

    The following tables provide a reconciliation between the GAAP and non-GAAP measures:

      Quarter Ended
        Sep 30,
    2024    		       Jun 30,
    2024    		       Mar 31,
    2024    		       Dec 31,
    2023    		       Sep 30,
    2023    		  
      (Dollars in thousands, except per share data)
    Tangible equity to tangible assets and tangible book value per share:
                                           
    Total stockholders’ equity (GAAP) $ 160,213     $ 160,693     $ 160,183     $ 161,660     $ 159,235  
    Less:                  
    Goodwill   889       889       889       889       889  
    Core deposit intangible, net   326       357       388       419       451  
    Tangible equity (Non-GAAP) $ 158,998     $ 159,447     $ 158,906     $ 160,352     $ 157,895  
                       
    Total assets (GAAP) $ 1,451,086     $ 1,447,753     $ 1,468,350     $ 1,505,082     $ 1,525,568  
    Less:                  
    Goodwill   889       889       889       889       889  
    Core deposit intangible, net   326       357       388       419       451  
    Tangible assets (Non-GAAP) $ 1,449,871     $ 1,446,507     $ 1,467,073     $ 1,503,774     $ 1,524,228  
                       
    Common shares outstanding at period end   9,213,969       9,179,825       9,174,425       9,179,510       9,179,510  
                       
    Equity-to-assets ratio (GAAP)   11.04 %     11.10 %     10.91 %     10.74 %     10.44 %
    Tangible equity-to-tangible assets ratio (Non-GAAP)   10.97       11.02       10.83       10.66       10.36  
    Book value per common share (GAAP) $ 17.39     $ 17.51     $ 17.46     $ 17.61     $ 17.35  
    Tangible book value per share (Non-GAAP)   17.26       17.37       17.32       17.47       17.20  

    The MIL Network –

  • MIL-OSI: First Northwest Bancorp Reports Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    PORT ANGELES, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) —

    CEO Commentary
    “This was a quarter of mixed results. Progress on customer deposit gathering and the termination of the FDIC Consent Order was overshadowed by a quarterly loss driven by additional provisions primarily related to certain equity loans made to high net worth, accredited investors.

    The teamwork and collaboration between Staff, Management and the Board to address the matters identified in the Consent Order is demonstrative of the qualifications, determination and capabilities of the First Fed team. We appreciate that the FDIC acknowledged the planning, monitoring and execution required to comply with the Order and validation that all of these matters were properly addressed. I am very proud of this accomplishment, and I would like to thank all of the many people within the bank who worked tirelessly to reach this achievement less than one year after the Order was issued.

    Through an internal review of our loan portfolio and with consultation with our prudential regulators, it was determined that larger provisions were required in the second quarter of 2024. As a result, we decided it was appropriate to file a restated quarterly report on Form 10-Q for the quarter ended June 30, 2024, and identified a material weakness in the design of certain internal controls. The loans for which we increased reserves were originated between 2020 and 2023. More recent vintages of our loan portfolio are performing well as we have engaged in lending and partnerships that we have evaluated as having a relatively lower risk profile. The provision for credit losses after the amendment was $8.7 million in the second quarter of 2024.

    Management and the Board of Directors take the reported material weakness very seriously. We have taken corrective action to address the basis for the restatement and are working to promptly remediate. 

    We also acknowledge the ongoing lawsuits filed by some of the Water Station equipment borrowers. We intend to vigorously defend against these claims, which we believe are meritless. We also intend to continue pursuing collection of all monies owed by the litigants using all available legal means.

    Moving forward, the highly capable bankers at First Fed are focused on continuing to build relationships with small businesses and individuals in the communities we serve. We continue to pursue inroads in SBA, treasury, maritime lending, first and second mortgage lending and community banking. We are introducing products and services to meet our customers where they are and to enhance their overall experience with First Fed. We believe that focusing on these fundamentals of Community Banking will improve our results and our overall franchise value.”

    — Matthew P. Deines, President and CEO, First Northwest Bancorp

    2024 FINANCIAL RESULTS   3Q 24     2Q 24     3Q 23     2024 YTD     2023 YTD  
    OPERATING RESULTS (in millions)                                        
    Net (loss) income   $ (2.0 )   $ (2.2 )   $ 2.5     $ (3.8 )   $ 7.8  
    Pre-provision net interest income     14.0       14.2       15.0       42.2       47.2  
    Provision for credit losses     3.1       8.7       0.4       12.8       0.2  
    Noninterest expense     15.8       15.6       14.4       45.8       44.5  
    Total revenue, net of interest expense *     15.8       21.6       17.9       53.5       54.2  
    PER SHARE DATA                                        
    Basic and diluted (loss) earnings   $ (0.23 )   $ (0.25 )   $ 0.28     $ (0.43 )   $ 0.87  
    Book value     17.17       16.81       16.20       17.17       16.20  
    Tangible book value *     17.00       16.64       16.03       17.00       16.03  
    BALANCE SHEET (in millions)                                        
    Total assets   $ 2,255     $ 2,216     $ 2,154     $ 2,255     $ 2,154  
    Total loans     1,735       1,698       1,635       1,735       1,635  
    Total deposits     1,712       1,708       1,658       1,712       1,658  
    Total shareholders’ equity     161       159       156       161       156  
    ASSET QUALITY                                        
    Net charge-off ratio(1)     0.10 %     1.70 %     0.30 %     0.67 %     0.10 %
    Nonperforming assets to total assets     1.35       1.07       0.11       1.35       0.11  
    Allowance for credit losses on loans                                        
    to total loans     1.27       1.14       1.04       1.27       1.04  
    Nonaccrual loan coverage ratio     72       82       714       72       714  
    (1)  Performance ratios are annualized, where appropriate.
    *See reconciliation of Non-GAAP Financial Measures later in this release.
                                             
    2024 FINANCIAL RESULTS (Continued)   3Q 24     2Q 24     3Q 23     2024 YTD     2023 YTD  
    SELECTED RATIOS                                        
    Return on average assets(1)     -0.36 %     -0.40 %     0.46 %     -0.23 %     0.50 %
    Return on average equity(1)     -4.91       -5.47       6.17       -3.14       6.50  
    Return on average tangible common equity(1) *     -4.96       -5.53       6.23       -3.17       6.57  
    Net interest margin     2.70       2.76       2.97       2.74       3.22  
    Efficiency ratio     100.31       72.32       80.52       85.54       82.06  
    Bank common equity tier 1 (CETI) ratio     12.20       12.40       13.43       12.20       13.43  
    Bank total risk-based capital ratio     13.44       13.49       14.38       13.44       14.38  
    (1)  Performance ratios are annualized, where appropriate.
    *See reconciliation of Non-GAAP Financial Measures later in this release.
                                             
      2024 Significant Items as of September 30, 2024
    • Year-to-date net loss of $3.8 million was primarily due to a provision for credit losses of $12.8 million as the collectability of a small number of loan relationships continued to deteriorate and additional reserves were taken on purchased loan pools.
    • First Fed Bank (“First Fed” or the “Bank”) balance sheet restructuring contributed to an improved year-to-date yield on earning assets by 16-basis points over the prior year end to 5.44%.
      –  Sale-leaseback transaction completed in the second quarter, resulting in a $7.9 million gain on sale of premises and equipment.
      –  Sold $23.2 million of lower-yielding security investments which resulted in $2.1 million year-to-date loss on sale.
      –  Purchased $53.3 million of higher-yielding security investments year-to-date.
      –  Continued conversion of lower-yielding bank-owned life insurance (“BOLI”) with one conversion completed in the first quarter and an exchange in the third quarter. Two additional policy restructures expected to be completed by the end of the first quarter of 2025.
    • Net interest margin decreased over the prior year end from 3.13% to 2.74%, impacted by the increase in deposit and borrowing costs outpacing increased yields on loans and investments.
    • Loan mix shifted away from construction and commercial real estate into commercial business, auto, multi-family real estate, one-to-four family and home equity compared to the prior year end. The weighted-average rate on new loans year-to-date was 8.5%.
    • Borrowings increased $14.1 million, or 4.4%, to $335.0 million at September 30, 2024, compared to $320.9 million at December 31, 2023.
    • Repurchased 214,132 shares during the first quarter, which closed out the October 2020 Stock Repurchase Plan.
    • Repurchased 98,156 shares during the third quarter under the new share repurchase plan approved in April 2024. 
    • Year-to-date deposit growth of $34.7 million, or 2.0%, to $1.71 billion, with a $30.0 million shift from savings to money market accounts. Cost of total deposits increased over the prior year end from 1.66% to 2.49%.
    • Estimated insured deposits totaled $1.3 billion, or 77% of total deposits at September 30, 2024. Available liquidity to uninsured deposit coverage remained strong at 142% at September 30, 2024.
    • Classified loans increased to 2.71% of total loans at September 30, 2024, compared to 2.12% at December 31, 2023.
    • Nonperforming assets increased $11.7 million year-to-date mainly due to three commercial loan relationships included in commercial construction, commercial real estate and commercial business.
    • Completed a reduction-in-force impacting 9% of our workforce on July 24, 2024. This action, along with year-to-date headcount management through attrition, is expected to result in a reduction in current levels of compensation expense by approximately $820,000 per quarter starting in the fourth quarter of 2024.
       

    First Northwest Bancorp (Nasdaq: FNWB) (“First Northwest” or the “Company”) today reported a net loss of $2.0 million for the third quarter of 2024, compared to a net loss of $2.2 million for the second quarter of 2024 and net income of $2.5 million for the third quarter of 2023. Basic and diluted loss per share were $0.23 for the third quarter of 2024, compared to basic and diluted loss per share of $0.25 for the second quarter of 2024 and basic and diluted earnings per share of $0.28 for the third quarter of 2023. In the third quarter of 2024, the Company generated a return on average assets of -0.36%, a return on average equity of -4.91% and a return on average tangible common equity* of -4.96%. Loss before provision for income taxes was $3.2 million for the third quarter of 2024, compared to a loss before provision for income taxes of $2.8 million for the preceding quarter, a decrease of $417,000, or 15.1%, and decreased $6.3 million compared to income of $3.1 million for the third quarter of 2023.

    The Bank recorded reserves on individually analyzed loans totaling $1.9 million due to the uncertain future cash flows from specific loan relationships in the third quarter of 2024. An additional credit loss on loans of $1.8 million was attributable to an increase in the reserve on pooled commercial business loans, with a reserve loss rate of 3.4% applied to that segment of the loan portfolio at period end. We believe the reserve on individually analyzed loans does not represent a universal decline in the collectability of all loans in the portfolio. We continue to work on resolution plans for all troubled borrowers. The provision for credit losses on loans had a significant negative impact on net income and was the only reason for the net loss recorded for the third quarter of 2024.

    Steps taken to restructure the Bank’s balance sheet continue to have a positive impact. The fair value hedge on loans, tied to the compounded overnight index swap using the secured overnight financing rate index, established in the first quarter of 2024 added $946,000 to interest income year-to-date. The fair value hedge on loans reduces interest rate risk by reducing liability sensitivity while increasing interest income. We estimate that if rates remain unchanged, this hedge will add $1.3 million of annualized interest income in 2024. The estimated impact will be reduced if the Federal Reserve Board (“FRB”) implements additional rate cuts during the year. The Bank expects to maintain a positive carry on its derivative for up to 75-basis points of additional rate cuts.

    The balance sheet restructure plan also includes the conversion of BOLI policies in order to reinvest in higher yielding products. The first $6.1 million policy earning 2.58% was surrendered during the first quarter and reinvested into a policy earning 5.18%. In the third quarter of 2024, a $1.3 million policy earning 3.18% was exchanged and reinvested into a policy earning 5.73%. The remaining surrender and exchange transactions are expected to be completed by the end of the first quarter of 2025.

    Net Interest Income
    Total interest income decreased $405,000 to $28.2 million for the third quarter of 2024, compared to $28.6 million in the previous quarter, and increased $2.4 million compared to $25.8 million in the third quarter of 2023. Interest income decreased in the third quarter of 2024 primarily due to interest reversals for loans placed on nonaccrual totaling $619,000. The interest adjustments were partially offset by higher yields on performing loans combined with increased loan volume. Interest and fees on loans increased year-over-year as the loan portfolio grew as a result of draws on new and existing lines of credit, originations of commercial real estate, commercial business and home equity loans, and auto and manufactured home loan purchases. Loan yields increased over the prior year due to higher rates on new originations as well as the repricing of variable and adjustable-rate loans tied to the Prime Rate or other indices.

    Total interest expense decreased $190,000 to $14.2 million for the third quarter of 2024, compared to $14.4 million in the second quarter of 2024, and increased $3.3 million compared to $10.9 million in the third quarter of 2023. Interest expense for the three months ended September 30, 2024, was lower primarily due to lower rates on advances combined with decreased advance volumes. The decrease was partially offset by a 9-basis point increase in the cost of deposits to 2.56% for the quarter ended September 30, 2024, from 2.47% for the prior quarter as a result of customers continuing to shift deposit balances into higher earning products. The increase over the third quarter of 2023 was the result of a 71-basis point increase in the cost of deposits from 1.85% in the third quarter one year ago. A shift in the deposit mix from transaction and savings accounts to money market accounts and time deposits also added to the higher cost of deposits compared to the third quarter of 2023. Higher costs of brokered time deposits also contributed to additional deposit costs with a 57-basis point increase to 4.88% for the current quarter compared to 4.31% for the third quarter one year ago.

    Net interest income before provision for credit losses for the third quarter of 2024 decreased $215,000, or 1.5%, to $14.0 million, compared to $14.2 million for the preceding quarter, and decreased $930,000, or 6.2%, from the third quarter one year ago. The impact of the September FRB rate cut will be reflected beginning with fourth quarter 2024 interest income and expenses.

    The Company recorded a $3.1 million provision for credit losses on loans in the third quarter of 2024, primarily due to reserves taken individually analyzed loans and Current Expected Credit Loss model loss factor increases attributable to pooled commercial business and multi-family loans at quarter end. Credit loss provision increases were offset by decreases to the loss factors applied to consumer, commercial real estate and one-to-four family loans. Higher loss factors applied to unfunded commitments and a moderate increase in commitment balances also resulted in a provision for credit losses on unfunded commitments of $57,000 for the quarter. The total provision for credit loss recorded for the third quarter of 2024 was $3.1 million, compared to a credit loss provision of $8.7 million for the preceding quarter and a provision of $371,000 for the third quarter of 2023.

    The net interest margin decreased to 2.70% for the third quarter of 2024, from 2.76% for the prior quarter, and decreased 27-basis points from 2.97% for the third quarter of 2023. The decrease over the linked quarter is primarily due to the accrued interest reversed on three nonperforming commercial loans during the three months ended September 30, 2024, partially offset by an increase in interest income earned on a higher volume of loans. Investment securities also had decreased volume due to regular payments and lower yields due to variable-rate securities compared to the preceding quarter. The Company reported reduced rates and declining volume of borrowings during the quarter which lowered costs; however, these savings were partially offset by an increase in cost due to a higher volume of retail customer deposits. The decrease in net interest margin from the same quarter one year ago is due to higher funding costs for deposits and borrowed funds. Organic loan production comprised 73% of new loan commitments for the third quarter with the remaining 27% added through purchases of higher-yielding loans from established third-party relationships. The Bank’s fair value hedging agreements on securities and loans added $188,000 and $395,000, respectively, to interest income for the third quarter of 2024.

    The yield on average earning assets for the third quarter of 2024 decreased 11-basis points to 5.44% compared to 5.55% for the second quarter of 2024 and increased 30-basis points from 5.14% for the third quarter of 2023. The third quarter decrease is attributable to the accrued interest reversed on nonperforming loans, a lower yield and volume of investment securities and a decrease in the balance of Federal Home Loan Bank (“FHLB”) stock. The year-over-year increase in interest income was primarily due to higher average loan balances augmented by increases in yields on all earning assets, which were positively impacted by the higher rate environment.

    The cost of average interest-bearing liabilities decreased 5-basis points to 3.23% for the third quarter of 2024, compared to 3.28% for the second quarter of 2024, and increased 63-basis points from 2.60% for the third quarter of 2023. Total cost of funds decreased to 2.82% for the third quarter of 2024 from 2.87% in the prior quarter and increased from 2.23% for the third quarter of 2023. Current quarter decreases were due to lower average balances and costs on borrowings. The Bank continues to offer higher rate specials on money market and CD accounts to attract and retain retail customer deposits. The average brokered CD balance decreased $5.5 million from the linked quarter with a 6-basis point decrease in the average rate paid on brokered funds.

    The increase in cost of average interest-bearing liabilities over the same quarter last year was driven by higher rates paid on deposits and borrowings and higher average CD balances. The Company attracted and retained funding through the use of promotional products and a focus on digital account acquisition. The mix of retail deposit balances shifted from no or low-cost transaction and savings accounts towards higher cost term certificate and higher yield money market accounts. Retail CDs represented 29.3%, 26.8% and 27.6% of retail deposits at September 30, 2024, June 30, 2024 and September 30, 2023, respectively. Average interest-bearing deposit balances increased $44.8 million, or 3.2%, to $1.45 billion for the third quarter of 2024 compared to the second quarter of 2024 and increased $75.0 million, or 5.4%, compared to $1.38 billion for the third quarter of 2023.

    Selected Yields   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Loan yield     5.51 %     5.62 %     5.51 %     5.38 %     5.31 %
    Investment securities yield     4.90       5.01       4.75       4.53       4.18  
    Cost of interest-bearing deposits     3.00       2.91       2.86       2.52       2.22  
    Cost of total deposits     2.56       2.47       2.43       2.12       1.85  
    Cost of borrowed funds     4.35       4.76       4.52       4.50       4.45  
    Net interest spread     2.21       2.27       2.28       2.40       2.54  
    Net interest margin     2.70       2.76       2.76       2.84       2.97  
                                             

    Noninterest Income
    Noninterest income decreased to $1.8 million for the third quarter of 2024 compared to $7.4 million for the second quarter of 2024. Nonrecurring second quarter transactions included a sale-leaseback transaction which resulted in a gain on sale of premises and equipment of $7.9 million, partially offset by a $2.1 million loss on the sale of lower-yielding available-for-sale securities. Income from the gain on sale of loans in the third quarter of 2024 includes $51,000 from SBA loans, compared to $116,000 in the prior quarter. Write-downs on sold loan servicing rights mark-to-market valuation totaled $161,000 for the third quarter of 2024 compared to $103,000 in the prior quarter. Other noninterest income includes a valuation gain on partnership investments of $279,000 compared to a loss of $56,000 in the preceding quarter.

    Noninterest income decreased 38.7% from $2.9 million in the same quarter one year ago. The third quarter of 2023 included $750,000 in credit enhancements reimbursed to the Company on Splash charge-offs recorded in other noninterest income. The quarter ended September 30, 2023, also included a $102,000 gain on sale of mortgage loans, compared to a $6,000 gain in the third quarter of 2024.

    Noninterest Income                                        
    $ in thousands   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Loan and deposit service fees   $ 1,059     $ 1,076     $ 1,102       1,068     $ 1,068  
    Sold loan servicing fees and servicing rights mark-to-market     10       74       219       276       98  
    Net gain on sale of loans     58       150       52       33       171  
    Net (loss) gain on sale of investment securities     —       (2,117 )     —       (5,397 )     —  
    Net gain on sale of premises and equipment     —       7,919       —       —       —  
    Increase in cash surrender value of bank-owned life insurance     315       293       243       260       252  
    Other income     337       (48 )     572       831       1,315  
    Total noninterest income   $ 1,779     $ 7,347     $ 2,188     $ (2,929 )   $ 2,904  
                                             

    Noninterest Expense
    Noninterest expense totaled $15.9 million for the third quarter of 2024, compared to $15.6 million for the preceding quarter and $14.4 million for the third quarter a year ago. Increases were primarily due to one-time severance payouts of $704,000 during the three months ended September 30, 2024, partially offset by a decrease in occupancy due to the one-time tax assessment on the sale-leaseback of $359,000 paid in the previous quarter. Other expense increased this quarter primarily due to $161,000 of additional credit related expenses.

    The increase in total noninterest expenses compared to the third quarter of 2023 is mainly due to current quarter one-time severance payouts of $704,000, additional payroll tax expense of $342,000 and additional medical benefit expense of $162,000. Payroll tax expense in the third quarter of 2023 included accretion of the employee retention credit (“ERC”) which reduced the expense by $293,000. In the fourth quarter of 2023, the Bank stopped the recognition of the ERC for the foreseeable future. Occupancy increased due to the additional rent of $416,000 from the previous quarter sale-leaseback transaction. Other increases compared to the third quarter of 2023 included $51,000 in stockholder communications, $103,000 of state taxes, $163,000 in FDIC insurance premiums, and $269,000 of additional credit related expenses. These increases were partially offset by lower legal fees of $204,000, consulting fees of $146,000 and advertising costs of $91,000. The Company continues to focus on controlling compensation expense and reducing advertising and other discretionary spending to improve earnings.

    Noninterest Expense                                        
    $ in thousands   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Compensation and benefits   $ 8,582     $ 8,588     $ 8,128     $ 7,397     $ 7,795  
    Data processing     2,085       2,008       1,944       2,107       1,945  
    Occupancy and equipment     1,553       1,799       1,240       1,262       1,173  
    Supplies, postage, and telephone     360       317       293       351       292  
    Regulatory assessments and state taxes     548       457       513       376       446  
    Advertising     409       377       309       235       501  
    Professional fees     698       684       910       1,119       929  
    FDIC insurance premium     533       473       386       418       369  
    Other expense     1,080       906       580       3,725       926  
    Total noninterest expense   $ 15,848     $ 15,609     $ 14,303     $ 16,990     $ 14,376  
                                             
    Efficiency ratio     100.31 %     72.32 %     88.75 %     150.81 %     80.52 %
                                             

    Investment Securities
    Investment securities increased $4.2 million, or 1.4%, to $310.9 million at September 30, 2024, compared to $306.7 million three months earlier, and increased $1.5 million compared to $309.3 million at September 30, 2023. The market value of the portfolio increased $8.1 million during the third quarter of 2024 primarily due to the market rally in the second half the third quarter which drove the yield curve lower. At September 30, 2024, municipal bonds totaled $81.4 million and comprised the largest portion of the investment portfolio at 26.2%. Agency issued mortgage-backed securities (“MBS agency”) were the second largest segment, totaling $78.5 million, or 25.3%, of the portfolio at quarter end. Included in MBS non-agency were $29.6 million of commercial mortgage-backed securities (“CMBS”), of which 89.8% were in “A” tranches and the remaining 10.2% were in “B” tranches. Our largest exposure in the CMBS portfolio at September 30, 2024, was to long-term care facilities, which comprised 65.0%, or $19.2 million, of our private label CMBS securities. All of the CMBS bonds had credit enhancements ranging from 28.8% to 71.8%, with a weighted-average credit enhancement of 55.3%, that further reduced the risk of loss on these investments.

    The estimated average life of the securities portfolio was approximately 7.4 years at September 30, 2024, 7.8 years at the prior quarter end and 7.7 years for the third quarter of 2023. The effective duration of the portfolio was approximately 3.9 years at September 30, 2024, compared to 4.3 years in the prior quarter and 4.9 years at the end of the third quarter of 2023. Our recent investment purchases have primarily been floating rate securities to take advantage of higher short-term rates above those offered on cash and to reduce our liability sensitivity.

    Investment Securities Available for Sale, at Fair Value                                        
    $ in thousands   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Municipal bonds   $ 81,363     $ 78,825     $ 87,004     $ 87,761     $ 93,995  
    U.S. Treasury notes     —       —       —       —       2,377  
    International agency issued bonds (Agency bonds)     —       —       —       —       1,703  
    U.S. government agency issued asset-backed securities (ABS agency)     13,296       13,982       14,822       11,782       —  
    Corporate issued asset-backed securities (ABS corporate)     16,391       16,483       13,929       5,286       —  
    Corporate issued debt securities (Corporate debt):                                        
    Senior positions     10,241       9,066       13,617       9,270       16,975  
    Subordinated bank notes     43,817       43,826       39,414       42,184       37,360  
    U.S. Small Business Administration securities (SBA)     9,317       9,772       7,911       —       —  
    Mortgage-backed securities:                                        
    U.S. government agency issued mortgage-backed securities (MBS agency)     78,549       77,301       83,271       63,247       66,946  
    Non-agency issued mortgage-backed securities (MBS non-agency)     57,886       57,459       65,987       76,093       89,968  
    Total securities available for sale, at fair value   $ 310,860     $ 306,714     $ 325,955     $ 295,623     $ 309,324  
                                             

    Loans and Unfunded Loan Commitments
    Net loans, excluding loans held for sale, increased $36.7 million, or 2.2%, to $1.71 billion at September 30, 2024, from $1.68 billion at June 30, 2024, and increased $96.4 million, or 6.0%, from $1.62 billion one year ago.

    Commercial business loans increased $38.2 million, primarily attributable to a $29.0 million increase in our Northpointe Bank Mortgage Purchase Program participation, organic originations totaling $7.9 million and draws on existing lines of credit of $5.7 million which were partially offset by payments. One-to-four family loans increased $5.9 million during the third quarter of 2024 as a result of $14.2 million in residential construction loans that converted to permanent amortizing loans, partially offset by payoffs and scheduled payments. Home equity loans increased $4.3 million over the previous quarter due to organic home equity loan production of $5.5 million and draws on new and existing commitments of $4.6 million, partially offset by payoffs and scheduled payments. Multi-family loans increased $3.7 million during the current quarter. The increase was primarily the result of $9.2 million of construction loans converting into permanent amortizing loans, partially offset by payoffs and scheduled payments. Commercial real estate loans increased $497,000 during the third quarter of 2024 compared to the previous quarter as originations of $8.6 million were offset by payoffs and scheduled payments.

    Construction loans decreased $11.6 million during the quarter, with $23.4 million converting into fully amortizing loans, partially offset by draws on new and existing loans. New single-family residence construction loan commitments totaled $4.1 million in the third quarter, compared to $2.7 million in the preceding quarter. Auto and other consumer loans decreased $4.4 million during the third quarter of 2024 as payoffs and scheduled payments were higher than $5.8 million of new auto loan purchases, a $4.3 million manufactured home loan pool and individual manufactured home loan purchases totaling $1.2 million. 

    The Company originated $3.4 million in residential mortgages during the third quarter of 2023 and sold $3.9 million, with an average gross margin on sale of mortgage loans of approximately 2.06%. This production compares to residential mortgage originations of $5.0 million in the preceding quarter with sales of $4.9 million, and an average gross margin of 2.05%. Single-family home inventory remained historically low and higher market rates on mortgage loans continued to limit saleable mortgage loan production through much of the third quarter.

    Loans by Collateral and Unfunded Commitments                                        
    $ in thousands   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    One-to-four family construction   $ 51,607     $ 49,440     $ 70,100     $ 60,211     $ 72,991  
    All other construction and land     45,166       58,346       55,286       69,484       71,092  
    One-to-four family first mortgage     469,053       434,840       436,543       426,159       409,207  
    One-to-four family junior liens     14,701       13,706       12,608       12,250       12,859  
    One-to-four family revolving open-end     48,459       44,803       45,536       42,479       38,413  
    Commercial real estate, owner occupied:                                        
    Health care     29,407       29,678       29,946       22,523       22,677  
    Office     17,901       19,215       17,951       18,468       18,599  
    Warehouse     11,645       14,613       14,683       14,758       14,890  
    Other     64,535       56,292       55,063       61,304       57,414  
    Commercial real estate, non-owner occupied:                                        
    Office     49,770       50,158       53,099       53,548       53,879  
    Retail     49,717       50,101       50,478       51,384       51,466  
    Hospitality     62,282       62,628       66,982       67,332       61,339  
    Other     82,573       84,428       93,040       94,822       96,083  
    Multi-family residential     354,118       350,382       339,907       333,428       325,338  
    Commercial business loans     86,904       79,055       90,781       76,920       75,068  
    Commercial agriculture and fishing loans     15,369       14,411       10,200       5,422       4,437  
    State and political subdivision obligations     404       405       405       405       439  
    Consumer automobile loans     144,036       151,121       139,524       132,877       134,695  
    Consumer loans secured by other assets     132,749       129,293       122,895       108,542       104,999  
    Consumer loans unsecured     4,411       5,209       6,415       7,712       9,093  
    Total loans   $ 1,734,807     $ 1,698,124     $ 1,711,442     $ 1,660,028     $ 1,634,978  
                                             
    Unfunded commitments under lines of credit or existing loans   $ 166,446     $ 155,005     $ 148,736     $ 149,631     $ 154,722  
                                             

    Deposits
    Total deposits increased $3.4 million to $1.71 billion at September 30, 2024, compared to $1.71 billion at June 30, 2024, and increased $53.9 million, or 3.3%, compared to $1.66 billion one year ago. During the third quarter of 2024, total retail customer deposit balances increased $23.4 million and brokered deposit balances decreased $20.0 million. Compared to the preceding quarter, there were balance increases of $18.1 million in consumer time deposits, $17.7 million in business money market accounts, $7.9 million in consumer demand accounts and $7.7 million in business time deposits. These increases were partially offset by decreases in business demand accounts of $26.4 million, brokered time deposits of $20.0 million, consumer money market accounts of $7.4 million, business savings accounts of $6.5 million, consumer savings accounts of $5.3 million and public fund time deposits of $941,000, during the third quarter of 2024. Increases in time deposits and money market accounts were driven by customer behavior as they sought out higher rates. Overall, the current rate environment continues to contribute to greater competition for deposits with ongoing deposit rate specials offered to attract new funds.

    The Company estimates that $401.0 million, or 23%, of total deposit balances were uninsured at September 30, 2024. Approximately $265.7 million, or 16%, of total deposits were uninsured business and consumer deposits with the remaining $135.3 million, or 8%, consisting of uninsured public funds at September 30, 2024. Uninsured public fund balances were fully collateralized. The Bank holds an FHLB standby letter of credit as part of our participation in the Washington Public Deposit Protection Commission program which covered $115.5 million of related deposit balances while the remaining $19.8 million of uninsured tribal accounts was fully covered through pledged securities at September 30, 2024.

    As of September 30, 2024, consumer deposits made up 58% of total deposits with an average balance of $24,000 per account, business deposits made up 22% of total deposits with an average balance of $51,000 per account, public fund deposits made up 8% of total deposits with an average balance of $1.6 million per account and the remaining 12% of account balances are brokered time deposits. We have maintained the majority of our public fund relationships for over 10 years. Approximately 70% of our customer base is located in rural areas, with 18% in urban areas and the remaining 12% are brokered deposits as of September 30, 2024.

    Deposits                                        
    $ in thousands   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Noninterest-bearing demand deposits   $ 252,999     $ 276,543     $ 252,083     $ 269,800     $ 280,475  
    Interest-bearing demand deposits     167,202       162,201       169,418       182,361       179,029  
    Money market accounts     433,307       423,047       362,205       372,706       374,269  
    Savings accounts     212,763       224,631       242,148       253,182       260,279  
    Certificates of deposit, retail     441,665       398,161       443,412       410,136       379,484  
    Total retail deposits     1,507,936       1,484,583       1,469,266       1,488,185       1,473,536  
    Certificates of deposit, brokered     203,705       223,705       207,626       169,577       179,586  
    Total deposits   $ 1,711,641     $ 1,708,288     $ 1,676,892     $ 1,657,762     $ 1,653,122  
                                             
    Public fund and tribal deposits included in total deposits   $ 139,729     $ 138,439     $ 132,652     $ 128,627     $ 130,974  
    Total loans to total deposits     101 %     99 %     102 %     100 %     99 %
                                             
    Deposit Mix   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Noninterest-bearing demand deposits     14.8 %     16.2 %     15.0 %     16.3 %     17.0 %
    Interest-bearing demand deposits     9.8       9.5       10.1       11.0       10.8  
    Money market accounts     25.3       24.8       21.6       22.5       22.6  
    Savings accounts     12.4       13.1       14.4       15.3       15.7  
    Certificates of deposit, retail     25.8       23.3       26.5       24.7       23.0  
    Certificates of deposit, brokered     11.9       13.1       12.4       10.2       10.9  
                                             
    Cost of Deposits for the Quarter Ended   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Interest-bearing demand deposits     0.45 %     0.47 %     0.45 %     0.45 %     0.46 %
    Money market accounts     2.65       2.40       2.08       1.48       1.22  
    Savings accounts     1.64       1.62       1.63       1.54       1.42  
    Certificates of deposit, retail     4.16       4.10       4.13       3.92       3.52  
    Certificates of deposit, brokered     4.88       4.94       4.94       4.72       4.31  
    Cost of total deposits     2.56       2.47       2.43       2.12       1.85  
                                             

    Asset Quality
    The allowance for credit losses on loans (“ACLL”) increased $2.6 million from $19.3 million at June 30, 2024, to $22.0 million at September 30, 2024. The ACLL as a percentage of total loans was 1.27% at September 30, 2024, increasing from 1.14% at June 30, 2024, and increasing from 1.04% one year earlier. The current quarter increase can be attributed to $1.9 million of additional reserves taken on individually evaluated commercial business loans due uncertainty in the collectability of these loans. The pooled loan reserve increased $1.2 million due to higher loss factors applied to commercial business and multi-family loans, partially offset by lower loss factors applied to one-to-four family, commercial real estate, home equity, auto and other consumer loans. Loss factors were revised based on the results of an annual loss driver analysis, in conjunction with other relevant factors, to update each segment’s sensitivity to qualitative factors used in the calculation of the pooled reserve at September 30, 2024.

    Nonperforming loans totaled $30.4 million at September 30, 2024, an increase of $6.8 million from June 30, 2024, primarily attributable to a $5.6 million delinquent commercial real estate relationship and two commercial business loans with an aggregate total of $1.7 million placed on nonaccrual due to credit concerns. The percentage of the allowance for credit losses on loans to nonperforming loans decreased to 72% at September 30, 2024, from 82% at June 30, 2024, and from 714% at September 30, 2023. This ratio continues to decline as higher balances of real estate loans are included in nonperforming assets with no significant corresponding increase to the ACLL as these secured loans are considered adequately reserved for based on information currently available.

    Classified loans increased $7.2 million to $46.9 million at September 30, 2024, due to the downgrade of one $6.4 million commercial real estate loan and ten commercial business loans totaling $5.6 million during the third quarter, partially offset by loan payoffs totaling $5.0 million. An $11.2 million construction loan relationship, which became a classified loan in the fourth quarter of 2022; an $8.1 million commercial construction loan relationship, which became classified in the previous quarter; and a $6.2 million commercial loan relationship, which became classified in the fourth quarter of 2023, account for 55% of the classified loan balance at September 30, 2024. The Bank has exercised legal remedies, including the appointment of a third-party receiver and foreclosure actions, to liquidate the underlying collateral to satisfy the real estate loans in two of these three collateral dependent relationships. The Bank is also closely monitoring certain equity program loans, with 14 loans totaling $5.9 million included in classified loans at September 30, 2024, and an additional nine loans totaling $3.1 million included in the special mention risk grading category.

    $ in thousands   3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Allowance for credit losses on loans to total loans     1.27 %     1.14 %     1.05 %     1.05 %     1.04 %
    Allowance for credit losses on loans to nonaccrual loans     72       82       92       94       714  
    Nonaccrual loans to total loans     1.75       1.39       1.14       1.12       0.15  
    Net charge-off ratio (annualized)     0.10       1.70       0.19       0.14       0.30  
                                             
    Total nonaccrual loans   $ 30,376     $ 23,631     $ 19,481     $ 18,644     $ 2,374  
    Reserve for unfunded commitments   $ 704     $ 647     $ 548     $ 817     $ 828  
                                             

    Capital
    Total shareholders’ equity increased to $160.8 million at September 30, 2024, compared to $158.9 million three months earlier, due to an increase in the after-tax fair market values of the available-for-sale investment securities portfolio of $6.3 million, partially offset by a net loss of $2.0 million, a decrease in the after-tax fair market values of derivatives of $1.2 million, share repurchases totaling $1.0 million and dividends declared of $659,000.

    Book value per common share was $17.17 at September 30, 2024, compared to $16.81 at June 30, 2024, and $16.20 at September 30, 2023. Tangible book value per common share* was $17.00 at September 30, 2024, compared to $16.64 at June 30, 2024, and $16.03 at September 30, 2023.

    Capital levels for both the Company and its operating bank, First Fed, remain in excess of applicable regulatory requirements and the Bank was categorized as “well-capitalized” at September 30, 2024. Common Equity Tier 1 and Total Risk-Based Capital Ratios at September 30, 2024, were 12.2% and 13.4%, respectively.

        3Q 24     2Q 24     1Q 24     4Q 23     3Q 23  
    Equity to total assets     7.13 %     7.17 %     7.17 %     7.42 %     7.25 %
    Tangible common equity to tangible assets *     7.06       7.10       7.10       7.35       7.17  
    Capital ratios (First Fed Bank):                                        
    Tier 1 leverage     9.39       9.38       9.74       9.90       10.12  
    Common equity Tier 1 capital     12.20       12.40       12.56       13.12       13.43  
    Tier 1 risk-based     12.20       12.40       12.56       13.12       13.43  
    Total risk-based     13.44       13.49       13.57       14.11       14.38  
                                             

    Share Repurchase Program and Cash Dividend
    First Northwest continued to return capital to our shareholders through cash dividends and share repurchases during the third quarter of 2024. We repurchased 98,156 shares of common stock under the Company’s April 2024 Stock Repurchase Plan (“Repurchase Plan”) at an average price of $10.19 per share for a total of $1.0 million during the quarter ended September 30, 2024, leaving 846,123 shares remaining under the plan. In addition, the Company paid cash dividends totaling $652,000 in the third quarter of 2024.

    ____________________
    *     See reconciliation of Non-GAAP Financial Measures later in this release.

    Awards/Recognition
    The Company received several accolades as a leader in the community in the last year.

    In September 2024, the First Fed team was recognized in the 2024 Best of Olympic Peninsula surveys, winning Best Bank and Best Lender in Clallam County; Best Bank and Best Financial Advisor in the West End; and Best Lender in Jefferson County. First Fed was also a finalist for Best Bank, Best Customer Service, Best Employer and Best Financial Advisor in Jefferson County; Best Customer Service, Best Employer and Best Financial Advisor in Clallam County; and Best Customer Service and Best Employer in the West End.
    In May 2024, First Fed, along with the First Fed Community Foundation, were honored to be ranked second on the Puget Sound Business Journal Midsize Corporate Philanthropists list.
    In October 2023, the First Fed team was honored to bring home the Gold for Best Bank in the Best of the Northwest survey hosted by Bellingham Alive for the second year in a row.
    In September 2023, the First Fed team was recognized in the 2023 Best of Olympic Peninsula surveys as a finalist for Best Employer in Kitsap County and Best Bank and Best Financial Institution in Bainbridge.
       

    About the Company
    First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 16 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. The Company is headquartered in Port Angeles, Washington.

    Forward-Looking Statements
    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 forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market, potential future credit experience, including our ability to collect, the outcome of litigation and statements regarding our mission and vision, and include, but are not limited to, statements about our plans, objectives, expectations and intentions that are not historical facts, and other statements often identified by words such as “believes,” “expects,” “anticipates,” “estimates,” or similar expressions. These forward-looking statements are based upon current management beliefs and expectations and may, therefore, involve risks and uncertainties, many of which are beyond our control. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; pressures on liquidity, including as a result of withdrawals of deposits or declines in the value of our investment portfolio; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; the risk of inaccuracies in the reporting of our financial condition as a result of the material weakness in our internal controls; and other factors described in the Company’s latest Annual Report on Form 10-K under the section entitled “Risk Factors,” and other filings with the Securities and Exchange Commission (“SEC”),which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.

    Any of the forward-looking statements that we make in this press release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company’s operating and stock price performance may be negatively affected. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for 2024 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 operations and stock price performance.

    For More Information Contact:
    Matthew P. Deines, President and Chief Executive Officer
    Geri Bullard, EVP, Chief Financial Officer and Chief Operating Officer
    IRGroup@ourfirstfed.com
    360-457-0461

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands, except share data) (Unaudited)

        September 30, 2024     June 30, 2024     September 30, 2023     Three Month Change     One Year Change  
    ASSETS                                        
    Cash and due from banks   $ 17,953     $ 19,184     $ 20,609       -6.4 %     -12.9 %
    Interest-earning deposits in banks     64,769       63,995       63,277       1.2       2.4  
    Investment securities available for sale, at fair value     310,860       306,714       309,324       1.4       0.5  
    Loans held for sale     378       1,086       689       -65.2       -45.1  
    Loans receivable (net of allowance for credit losses on loans $21,970, $19,343, and $16,945)     1,714,416       1,677,764       1,618,033       2.2       6.0  
    Federal Home Loan Bank (FHLB) stock, at cost     14,435       13,086       12,621       10.3       14.4  
    Accrued interest receivable     8,939       9,466       8,093       -5.6       10.5  
    Premises and equipment, net     10,436       10,714       17,954       -2.6       -41.9  
    Servicing rights on sold loans, at fair value     3,584       3,740       3,729       -4.2       -3.9  
    Bank-owned life insurance, net     41,429       41,113       40,318       0.8       2.8  
    Equity and partnership investments     14,912       15,085       14,623       -1.1       2.0  
    Goodwill and other intangible assets, net     1,083       1,084       1,087       -0.1       -0.4  
    Deferred tax asset, net     10,802       12,216       16,611       -11.6       -35.0  
    Prepaid expenses and other assets     41,490       40,715       26,577       1.9       56.1  
    Total assets   $ 2,255,486     $ 2,215,962     $ 2,153,545       1.8 %     4.7 %
                                             
    LIABILITIES AND SHAREHOLDERS’ EQUITY                                        
    Deposits   $ 1,711,641     $ 1,708,288     $ 1,657,762       0.2 %     3.3 %
    Borrowings     334,994       302,575       300,416       10.7       11.5  
    Accrued interest payable     2,153       3,143       2,276       -31.5       -5.4  
    Accrued expenses and other liabilities     43,424       41,771       34,651       4.0       25.3  
    Advances from borrowers for taxes and insurance     2,485       1,304       2,375       90.6       4.6  
    Total liabilities     2,094,697       2,057,081       1,997,480       1.8       4.9  
                                             
    Shareholders’ Equity                                        
    Preferred stock, $0.01 par value, authorized 5,000,000 shares, no shares issued or outstanding     —       —       —       n/a       n/a  
    Common stock, $0.01 par value, authorized 75,000,000 shares; issued and outstanding 9,365,979 at September 30, 2024; issued and outstanding 9,453,247 at June 30, 2024; and issued and outstanding 9,630,735 at September 30, 2023     94       94       96       0.0       -2.1  
    Additional paid-in capital     93,218       93,985       95,658       -0.8       -2.6  
    Retained earnings     100,660       103,322       113,579       -2.6       -11.4  
    Accumulated other comprehensive loss, net of tax     (26,424 )     (31,597 )     (45,850 )     16.4       42.4  
    Unearned employee stock ownership plan (ESOP) shares     (6,759 )     (6,923 )     (7,418 )     2.4       8.9  
    Total shareholders’ equity     160,789       158,881       156,065       1.2       3.0  
    Total liabilities and shareholders’ equity   $ 2,255,486     $ 2,215,962     $ 2,153,545       1.8 %     4.7 %
                                             

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Dollars in thousands, except per share data) (Unaudited)

        Quarter Ended                  
        September 30, 2024     June 30, 2024     September 30, 2023     Three Month Change     One Year Change  
    INTEREST INCOME                                        
    Interest and fees on loans receivable   $ 23,536     $ 23,733     $ 21,728       -0.8 %     8.3 %
    Interest on investment securities     3,786       3,949       3,368       -4.1       12.4  
    Interest on deposits in banks     582       571       524       1.9       11.1  
    FHLB dividends     302       358       214       -15.6       41.1  
    Total interest income     28,206       28,611       25,834       -1.4       9.2  
    INTEREST EXPENSE                                        
    Deposits     10,960       10,180       7,699       7.7       42.4  
    Borrowings     3,226       4,196       3,185       -23.1       1.3  
    Total interest expense     14,186       14,376       10,884       -1.3       30.3  
    Net interest income     14,020       14,235       14,950       -1.5       -6.2  
    PROVISION FOR CREDIT LOSSES                                        
    Provision for credit losses on loans     3,077       8,640       880       -64.4       249.7  
    Provision for (recapture of) credit losses on unfunded commitments     57       99       (509 )     -42.4       111.2  
    Provision for credit losses     3,134       8,739       371       -64.1       744.7  
    Net interest income after provision for credit losses     10,886       5,496       14,579       98.1       -25.3  
    NONINTEREST INCOME                                        
    Loan and deposit service fees     1,059       1,076       1,068       -1.6       -0.8  
    Sold loan servicing fees and servicing rights mark-to-market     10       74       98       -86.5       -89.8  
    Net gain on sale of loans     58       150       171       -61.3       -66.1  
    Net loss on sale of investment securities     —       (2,117 )     —       100.0       n/a  
    Net gain on sale of premises and equipment     —       7,919       —       -100.0       n/a  
    Increase in cash surrender value of bank-owned life insurance     315       293       252       7.5       25.0  
    Other income     337       (48 )     1,315       802.1       -74.4  
    Total noninterest income     1,779       7,347       2,904       -75.8       -38.7  
    NONINTEREST EXPENSE                                        
    Compensation and benefits     8,582       8,588       7,795       -0.1       10.1  
    Data processing     2,085       2,008       1,945       3.8       7.2  
    Occupancy and equipment     1,553       1,799       1,173       -13.7       32.4  
    Supplies, postage, and telephone     360       317       292       13.6       23.3  
    Regulatory assessments and state taxes     548       457       446       19.9       22.9  
    Advertising     409       377       501       8.5       -18.4  
    Professional fees     698       684       929       2.0       -24.9  
    FDIC insurance premium     533       473       369       12.7       44.4  
    Other expense     1,080       906       926       19.2       16.6  
    Total noninterest expense     15,848       15,609       14,376       1.5       10.2  
    (Loss) income before (benefit) provision for income taxes     (3,183 )     (2,766 )     3,107       -15.1       -202.4  
    (Benefit) provision for income taxes     (1,203 )     (547 )     603       -119.9       -299.5  
    Net (loss) income   $ (1,980 )   $ (2,219 )   $ 2,504       10.8 %     -179.1 %
                                             
    Basic and diluted (loss) earnings per common share   $ (0.23 )   $ (0.25 )   $ 0.28       8.0 %     -182.1 %
                                             

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Dollars in thousands, except per share data) (Unaudited)

        Nine Months Ended September 30,     Percent  
        2024     2023     Change  
    INTEREST INCOME                        
    Interest and fees on loans receivable   $ 70,036     $ 62,531       12.0 %
    Interest on investment securities     11,367       9,886       15.0  
    Interest on deposits in banks     1,798       1,545       16.4  
    FHLB dividends     942       628       50.0  
    Total interest income     84,143       74,590       12.8  
    INTEREST EXPENSE                        
    Deposits     31,252       18,261       71.1  
    Borrowings     10,708       9,092       17.8  
    Total interest expense     41,960       27,353       53.4  
    Net interest income     42,183       47,237       -10.7  
    PROVISION FOR CREDIT LOSSES                        
    Provision for credit losses on loans     12,956       1,195       984.2  
    (Recapture of) provision for credit losses on unfunded commitments     (113 )     (1,024 )     89.0  
    Provision for credit losses     12,843       171       7,410.5  
    Net interest income after provision for credit losses     29,340       47,066       -37.7  
    NONINTEREST INCOME                        
    Loan and deposit service fees     3,237       3,273       -1.1  
    Sold loan servicing fees and servicing rights mark-to-market     303       400       -24.3  
    Net gain on sale of loans     260       405       -35.8  
    Net loss on sale of investment securities     (2,117 )     —       100.0  
    Net gain on sale of premises and equipment     7,919       —       100.0  
    Increase in cash surrender value of bank-owned life insurance     851       668       27.4  
    Other income     861       2,203       -60.9  
    Total noninterest income     11,314       6,949       62.8  
    NONINTEREST EXPENSE                        
    Compensation and benefits     25,298       23,812       6.2  
    Data processing     6,037       6,063       -0.4  
    Occupancy and equipment     4,592       3,596       27.7  
    Supplies, postage, and telephone     970       1,082       -10.4  
    Regulatory assessments and state taxes     1,518       1,259       20.6  
    Advertising     1,095       2,471       -55.7  
    Professional fees     2,292       2,619       -12.5  
    FDIC insurance premium     1,392       939       48.2  
    Other     2,566       2,623       -2.2  
    Total noninterest expense     45,760       44,464       2.9  
    (Loss) income before (benefit) provision for income taxes     (5,106 )     9,551       -153.5  
    (Benefit) provision for income taxes     (1,303 )     1,903       -168.5  
    Net (loss) income     (3,803 )     7,648       -149.7  
    Net loss attributable to noncontrolling interest in Quin Ventures, Inc.     —       160       -100.0  
    Net (loss) income attributable to parent   $ (3,803 )   $ 7,808       -148.7 %
                             
    Basic and diluted (loss) earnings per common share   $ (0.43 )   $ 0.87       -149.4 %
                             

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    Selected Financial Ratios and Other Data
    (Dollars in thousands, except per share data) (Unaudited)

        As of or For the Quarter Ended  
        September 30, 2024     June 30, 2024     March 31, 2024     December 31, 2023     September 30, 2023  
    Performance ratios:(1)                                        
    Return on average assets     -0.36 %     -0.40 %     0.07 %     -1.03 %     0.46 %
    Return on average equity     -4.91       -5.47       0.98       -14.05       6.17  
    Average interest rate spread     2.21       2.27       2.28       2.40       2.54  
    Net interest margin(2)     2.70       2.76       2.76       2.84       2.97  
    Efficiency ratio(3)     100.3       72.3       88.8       150.8       80.5  
    Equity to total assets     7.13       7.17       7.17       7.42       7.25  
    Average interest-earning assets to average interest-bearing liabilities     118.0       117.6       118.3       118.2       120.0  
    Book value per common share   $ 17.17     $ 16.81     $ 17.00     $ 16.99     $ 16.20  
                                             
    Tangible performance ratios:(1)                                        
    Tangible common equity to tangible assets(4)     7.06 %     7.10 %     7.10 %     7.35 %     7.17 %
    Return on average tangible common equity(4)     -4.96       -5.53       0.99       -14.20       6.23  
    Tangible book value per common share(4)   $ 17.00     $ 16.64     $ 16.83     $ 16.83     $ 16.03  
                                             
    Asset quality ratios:                                        
    Nonperforming assets to total assets at end of period(5)     1.35 %     1.07 %     0.87 %     0.85 %     0.11 %
    Nonaccrual loans to total loans(6)     1.75       1.39       1.14       1.12       0.15  
    Allowance for credit losses on loans to nonaccrual loans(6)     72.33       81.85       92.18       93.92       713.77  
    Allowance for credit losses on loans to total loans     1.27       1.14       1.05       1.05       1.04  
    Annualized net charge-offs to average outstanding loans     0.10       1.70       0.19       0.14       0.30  
                                             
    Capital ratios (First Fed Bank):                                        
    Tier 1 leverage     9.4 %     9.4 %     9.7 %     9.9 %     10.1 %
    Common equity Tier 1 capital     12.2       12.4       12.6       13.1       13.4  
    Tier 1 risk-based     12.2       12.4       12.6       13.1       13.4  
    Total risk-based     13.4       13.5       13.6       14.1       14.4  
                                             
    Other Information:                                        
    Average total assets   $ 2,209,333     $ 2,219,370     $ 2,166,187     $ 2,127,655     $ 2,139,734  
    Average total loans     1,718,402       1,717,830       1,678,656       1,645,418       1,641,206  
    Average interest-earning assets     2,061,970       2,072,280       2,027,821       1,980,226       1,994,251  
    Average noninterest-bearing deposits     252,911       251,442       249,283       259,845       276,294  
    Average interest-bearing deposits     1,452,817       1,408,018       1,422,116       1,379,059       1,377,734  
    Average interest-bearing liabilities     1,747,649       1,762,858       1,714,474       1,675,044       1,661,996  
    Average equity     160,479       163,079       161,867       155,971       160,994  
    Average common shares — basic     8,756,765       8,783,086       8,876,236       8,928,620       8,906,526  
    Average common shares — diluted     8,756,765       8,783,086       8,907,184       8,968,828       8,934,882  
    Tangible assets(4)     2,253,914       2,214,361       2,238,446       2,200,230       2,151,849  
    Tangible common equity(4)     159,217       157,280       158,932       161,773       154,369  
    (1) Performance ratios are annualized, where appropriate.
    (2) Net interest income divided by average interest-earning assets.
    (3) Total noninterest expense as a percentage of net interest income and total other noninterest income.
    (4) See reconciliation of Non-GAAP Financial Measures later in this release.
    (5) Nonperforming assets consists of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), real estate owned and repossessed assets.
    (6) Nonperforming loans consists of nonaccruing loans and accruing loans more than 90 days past due.
       

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    Selected Financial Ratios and Other Data
    (Dollars in thousands, except per share data) (Unaudited)

        As of or For the Nine Months Ended September 30,  
        2024     2023  
    Performance ratios:(1)                
    Return on average assets     -0.23 %     0.50 %
    Return on average equity     -3.14       6.50  
    Average interest rate spread     2.25       2.83  
    Net interest margin(2)     2.74       3.22  
    Efficiency ratio(3)     85.54       82.06  
    Equity to total assets     7.13       7.25  
    Average interest-earning assets to average interest-bearing liabilities     117.9       121.0  
    Book value per common share   $ 17.17     $ 16.20  
                     
    Tangible performance ratios:(1)                
    Tangible common equity to tangible assets(4)     7.06 %     7.17 %
    Return on average tangible common equity(4)     -3.17       6.57  
    Tangible book value per common share(4)   $ 17.00     $ 16.03  
                     
    Asset quality ratios:                
    Nonperforming assets to total assets at end of period(5)     1.35 %     0.11 %
    Nonaccrual loans to total loans(6)     1.75       0.15  
    Allowance for credit losses on loans to nonaccrual loans(6)     72.33       713.77  
    Allowance for credit losses on loans to total loans     1.27       1.04  
    Annualized net charge-offs to average outstanding loans     0.67       0.10  
                     
    Capital ratios (First Fed Bank):                
    Tier 1 leverage     9.4 %     10.1 %
    Common equity Tier 1 capital     12.2       13.4  
    Tier 1 risk-based     12.2       13.4  
    Total risk-based     13.4       14.4  
                     
    Other Information:                
    Average total assets   $ 2,198,337     $ 2,102,980  
    Average total loans     1,705,088       1,698,394  
    Average interest-earning assets     2,054,052       1,959,946  
    Average noninterest-bearing deposits     251,218       284,282  
    Average interest-bearing deposits     1,427,743       1,333,696  
    Average interest-bearing liabilities     1,741,683       1,619,763  
    Average equity     161,803       160,573  
    Average common shares — basic     8,805,124       8,910,391  
    Average common shares — diluted     8,805,124       8,930,404  
    Tangible assets(4)     2,253,914       2,151,849  
    Tangible common equity(4)     159,217       154,369  
    (1) Performance ratios are annualized, where appropriate.
    (2) Net interest income divided by average interest-earning assets.
    (3) Total noninterest expense as a percentage of net interest income and total other noninterest income.
    (4) See reconciliation of Non-GAAP Financial Measures later in this release.
    (5) Nonperforming assets consists of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), real estate owned and repossessed assets.
    (6) Nonperforming loans consists of nonaccruing loans and accruing loans more than 90 days past due.
       

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    ADDITIONAL INFORMATION
    (Dollars in thousands) (Unaudited)

        September 30, 2024     June 30, 2024     September 30, 2023     Three Month Change     One Year Change  
        (In thousands)  
    Real Estate:                                        
    One-to-four family   $ 395,792     $ 389,934     $ 369,950     $ 5,858     $ 25,842  
    Multi-family     353,813       350,076       325,496       3,737       28,317  
    Commercial real estate     376,008       375,511       381,508       497       (5,500 )
    Construction and land     95,709       107,273       143,434       (11,564 )     (47,725 )
    Total real estate loans     1,221,322       1,222,794       1,220,388       (1,472 )     934  
    Consumer:                                        
    Home equity     76,960       72,613       64,424       4,347       12,536  
    Auto and other consumer     281,198       285,623       248,786       (4,425 )     32,412  
    Total consumer loans     358,158       358,236       313,210       (78 )     44,948  
    Commercial business     155,327       117,094       101,380       38,233       53,947  
    Total loans receivable     1,734,807       1,698,124       1,634,978       36,683       99,829  
    Less:                                        
    Derivative basis adjustment     (1,579 )     1,017       —       (2,596 )     (1,579 )
    Allowance for credit losses on loans     21,970       19,343       16,945       2,627       5,025  
    Total loans receivable, net   $ 1,714,416     $ 1,677,764     $ 1,618,033     $ 36,652     $ 96,383  
                                             

    Selected loan detail:

        September 30, 2024     June 30, 2024     September 30, 2023     Three Month Change     One Year Change  
        (In thousands)  
    Construction and land loans breakout                                        
    1-4 Family construction   $ 43,125     $ 56,514     $ 63,371     $ (13,389 )   $ (20,246 )
    Multifamily construction     29,109       43,341       54,318       (14,232 )     (25,209 )
    Nonresidential construction     17,500       1,015       18,746       16,485       (1,246 )
    Land and development     5,975       6,403       6,999       (428 )     (1,024 )
    Total construction and land loans   $ 95,709     $ 107,273     $ 143,434     $ (11,564 )   $ (47,725 )
                                             
    Auto and other consumer loans breakout                                        
    Triad Manufactured Home loans   $ 129,600     $ 125,906     $ 101,339     $ 3,694     $ 28,261  
    Woodside auto loans     126,129       131,151       124,833       (5,022 )     1,296  
    First Help auto loans     15,971       17,427       5,079       (1,456 )     10,892  
    Other auto loans     2,064       2,690       5,022       (626 )     (2,958 )
    Other consumer loans     7,434       8,449       12,513       (1,015 )     (5,079 )
    Total auto and other consumer loans   $ 281,198     $ 285,623     $ 248,786     $ (4,425 )   $ 32,412  
                                             
    Commercial business loans breakout                                        
    PPP loans   $ –     $ 5     $ 45     $ (5 )   $ (45 )
    Northpointe Bank MPP     38,155       9,150       162       29,005       37,993  
    Secured lines of credit     37,686       28,862       35,833       8,824       1,853  
    Unsecured lines of credit     1,571       1,133       919       438       652  
    SBA loans     7,219       7,146       9,149       73       (1,930 )
    Other commercial business loans     70,696       70,798       55,272       (102 )     15,424  
    Total commercial business loans   $ 155,327     $ 117,094     $ 101,380     $ 38,233     $ 53,947  
                                             

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    ADDITIONAL INFORMATION
    (Dollars in thousands) (Unaudited)

    Non-GAAP Financial Measures
    This press release contains financial measures that are not in conformity with generally accepted accounting principles in the United States of America (“GAAP”). Non-GAAP measures are presented where management believes the information will help investors understand the Company’s results of operations or financial position and assess trends. Where non-GAAP financial measures are used, the comparable GAAP financial measure is also provided. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP performance measures that may be presented by other companies. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons. Reconciliations of the GAAP and non-GAAP measures are presented below.

    Calculation of Total Revenue:

        September 30, 2024     June 30, 2024     March 31, 2024     December 31, 2023     September 30, 2023  
        (Dollars in thousands)  
    Net interest income   $ 14,020     $ 14,235     $ 13,928     $ 14,195     $ 14,950  
    Noninterest income     1,779       7,347       2,188       (2,929 )     2,904  
    Total revenue, net of interest expense(1)   $ 15,799     $ 21,582     $ 16,116     $ 11,266     $ 17,854  
     
    (1)  We believe this non-GAAP metric provides an important measure with which to analyze and evaluate income available for noninterest expenses.
     

    Calculations Based on Tangible Common Equity:

        September 30, 2024     June 30, 2024     March 31, 2024     December 31, 2023     September 30, 2023  
        (Dollars in thousands, except per share data)  
    Total shareholders’ equity   $ 160,789     $ 158,881     $ 160,506     $ 163,340     $ 156,065  
    Less: Goodwill and other intangible assets     1,083       1,084       1,085       1,086       1,087  
    Disallowed non-mortgage loan servicing rights     489       517       489       481       609  
    Total tangible common equity   $ 159,217     $ 157,280     $ 158,932     $ 161,773     $ 154,369  
                                             
    Total assets   $ 2,255,486     $ 2,215,962     $ 2,240,020     $ 2,201,797     $ 2,153,545  
    Less: Goodwill and other intangible assets     1,083       1,084       1,085       1,086       1,087  
    Disallowed non-mortgage loan servicing rights     489       517       489       481       609  
    Total tangible assets   $ 2,253,914     $ 2,214,361     $ 2,238,446     $ 2,200,230     $ 2,151,849  
                                             
    Average shareholders’ equity   $ 160,479     $ 163,079     $ 161,867     $ 155,971     $ 160,994  
    Less: Average goodwill and other intangible assets     1,084       1,085       1,085       1,086       1,087  
    Average disallowed non-mortgage loan servicing rights     517       489       481       608       557  
    Total average tangible common equity   $ 158,878     $ 161,505     $ 160,301     $ 154,277     $ 159,350  
                                             
    Net (loss) income   $ (1,980 )   $ (2,219 )   $ 396     $ (5,522 )   $ 2,504  
    Common shares outstanding     9,365,979       9,453,247       9,442,796       9,611,876       9,630,735  
    GAAP Ratios:                                        
    Equity to total assets     7.13 %     7.17 %     7.17 %     7.42 %     7.25 %
    Return on average equity     -4.91 %     -5.47 %     0.98 %     -14.05 %     6.17 %
    Book value per common share   $ 17.17     $ 16.81     $ 17.00     $ 16.99     $ 16.20  
    Non-GAAP Ratios:                                        
    Tangible common equity to tangible assets(1)     7.06 %     7.10 %     7.10 %     7.35 %     7.17 %
    Return on average tangible common equity(1)     -4.96 %     -5.53 %     0.99 %     -14.20 %     6.23 %
    Tangible book value per common share(1)   $ 17.00     $ 16.64     $ 16.83     $ 16.83     $ 16.03  
     
    (1)  We believe these non-GAAP metrics provide an important measure with which to analyze and evaluate financial condition and capital strength. In addition, we believe that use of tangible equity and tangible assets improves the comparability to other institutions that have not engaged in acquisitions that resulted in recorded goodwill and other intangibles.
     

    FIRST NORTHWEST BANCORP AND SUBSIDIARY
    ADDITIONAL INFORMATION
    (Dollars in thousands) (Unaudited)

        September 30, 2024     September 30, 2023  
        (Dollars in thousands, except per share data)  
    Total shareholders’ equity   $ 160,789     $ 156,065  
    Less: Goodwill and other intangible assets     1,083       1,087  
    Disallowed non-mortgage loan servicing rights     489       609  
    Total tangible common equity   $ 159,217     $ 154,369  
                     
    Total assets   $ 2,255,486     $ 2,153,545  
    Less: Goodwill and other intangible assets     1,083       1,087  
    Disallowed non-mortgage loan servicing rights     489       609  
    Total tangible assets   $ 2,253,914     $ 2,151,849  
                     
    Average shareholders’ equity   $ 161,803     $ 160,573  
    Less: Average goodwill and other intangible assets     1,085       1,088  
    Average disallowed non-mortgage loan servicing rights     496       690  
    Total average tangible common equity   $ 160,222     $ 158,795  
                     
    Net (loss) income   $ (3,803 )   $ 7,808  
    Common shares outstanding     9,365,979       9,630,735  
    GAAP Ratios:                
    Equity to total assets     7.13 %     7.25 %
    Return on average equity     -3.14 %     6.50 %
    Book value per common share   $ 17.17     $ 16.20  
    Non-GAAP Ratios:                
    Tangible common equity to tangible assets(1)     7.06 %     7.17 %
    Return on average tangible common equity(1)     -3.17 %     6.57 %
    Tangible book value per common share(1)   $ 17.00     $ 16.03  
     
    (1)  We believe these non-GAAP metrics provide an important measure with which to analyze and evaluate financial condition and capital strength. In addition, we believe that use of tangible equity and tangible assets improves the comparability to other institutions that have not engaged in acquisitions that resulted in recorded goodwill and other intangibles.
     

    Images accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e387e9e8-0a9a-4306-8623-41b739acb402
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4a433c9b-6823-47f3-8843-0d8138f89182
    https://www.globenewswire.com/NewsRoom/AttachmentNg/d5ca9bb6-4a5d-45aa-8336-dd1ae06f0786
    https://www.globenewswire.com/NewsRoom/AttachmentNg/5b9aaf8c-4fd4-437d-af24-7ba8fc60616c

    The MIL Network –

  • MIL-OSI Canada: Health System Impact Fellows work to bring changes to our health systems

    Source: Government of Canada News (2)

    News release

    45 highly skilled researchers join health system organizations to help address pressing priorities and improve care for people in Canada

    October 29, 2024 | Ottawa, Ontario | Canadian Institutes of Health Research

    Canadians deserve access to high-quality health care. To achieve this, improvements often begin with research that examines how health care services are organized, regulated, managed, financed, and delivered.

    Today, the Honorable Mark Holland, Minister of Health, announced an investment of over $4.3M to help transform Canada’s health systems through the Health System Impact Program. This funding comes from the Canadian Institutes of Health Research (CIHR) and partners, Michael Smith Health Research BC and the Fonds de recherche du Québec – Santé.

    The Health System Impact Program focuses on health system transformation to ensure that people in Canada have access to the highest quality care. Through this initiative, PhD trainees, postdoctoral researchers and early-career researchers will collaborate with health organizations across the country to lead projects aimed at generating evidence to improve Canada’s health systems, services and policies. For the 2024 cycle, CIHR is supporting 25 PhD trainees and 20 postdoctoral researchers who are embedded in 34 health organizations and connected to 19 universities across Canada.

    These researchers will address a variety of critical health system issues, including optimizing primary health care, improving quality in long-term care homes, supporting the health workforce, advancing equity in cancer care, leveraging digital health opportunities, predicting antimicrobial resistance using machine learning, mitigating the health impacts of climate change, ensuring cultural safety in health care, enhancing mental health services, and more.

    Quotes

    “I would like to congratulate the 2024 cohort of CIHR Health System Impact Fellows. It’s so exciting to see these future research leaders join health system organizations to help tackle pressing priorities and improve care for Canadians. Their dedication to evidence-informed health system improvement and improving access to care for all people in Canada is inspiring, and their skills will contribute to real-world solutions and stronger health systems.”

    The Honourable Mark Holland
    Minister of Health

    “Each year, the contributions of Health System Impact Fellows invigorate our health systems with fresh insights and innovative solutions. It’s inspiring to see our next generation of health researchers thrive in this dynamic environment. They are not just advancing Learning Health Systems; they are helping to reshape the future of health care in Canada, ensuring it is more responsive, equitable, and driven by evidence.”

    Dr. Tammy Clifford
    Acting President, Canadian Institutes of Health Research

    “Our long-standing partnership with CIHR on this fellowship is supporting researchers and strengthening evidence-informed policy throughout BC. The program equips PhD trainees and postdoctoral researchers to translate research into practice and drive positive outcomes in health care environments. That’s an important outcome — building both research and health system capacity.”

    Dr. Bev Holmes
    President & CEO, Michael Smith Health Research BC

    Quick facts

    • CIHR’s Health System Impact program began in 2017 and to date, 328 fellows (111 PhD trainees and 217 postdoctoral researchers) and 12 early-career researchers have been or are currently embedded within 139 health system organizations and connected to 25 universities.  

    • Through this program, fellows receive unparalleled mentorship from senior decision-makers from health system organizations and academic experts from across the country.

    • The Health System Impact program is led by the CIHR Institute of Health Services and Policy Research.

    Associated links

    Contacts

    Matthew Kronberg
    Press Secretary
    Office of the Honourable Mark Holland
    Minister of Health
    343-552-5654

    Media Relations
    Canadian Institutes of Health Research
    mediarelations@cihr-irsc.gc.ca

    At the Canadian Institutes of Health Research (CIHR) we know that research has the power to change lives. As Canada’s health research investment agency, we collaborate with partners and researchers to support the discoveries and innovations that improve our health and strengthen our health care system.

    MIL OSI Canada News –

  • MIL-OSI USA: From Policy to Action: Anna-Michelle McSorley Focuses on Health Equity for Latinos

    Source: US State of Connecticut

    Anna-Michelle McSorley, assistant professor of allied health sciences, joined the faculty of the College of Agriculture, Health and Natural Resources (CAHNR) this fall. Her work focuses on addressing health inequities related to policies and data collection for Latinos, particularly Puerto Ricans.

    “I’m well-situated at UConn to engage with the very population that is migrating from that territorial context into the state of Connecticut,” McSorley says.

    According to the most recent U.S. Census data, 18.6% of Connecticut’s population is Hispanic or Latino, equating to more than 670,000 people. Puerto Ricans constitute the largest Latino group within this population, representing roughly 45%. Nearly six million Puerto Ricans live outside of Puerto Rico in the States in total.

    McSorley is based at UConn Waterbury. Waterbury has a large Latino population, including more than 110,000 Puerto Ricans. This positions McSorley well to engage directly with the communities her research stands to impact.

    “It’s the rigor of research translated into policy action to benefit the people we are trying to serve,” McSorley says.

    Much of McSorley’s work focuses on Puerto Rico, which is neither an independent nation nor a state, but a territory of the United States.

    McSorley, who identifies as a “Nuyorican” raised between New York and Puerto Rico, understood this unique status from a young age. She realized there was something about how she was able to travel between the U.S. and Puerto Rico that was distinct from other Latino communities and countries.

    “I started thinking about that very early in my life,” McSorley says. “Then, through my education, I was able to pinpoint this difference, identify policies and structures that affect it, and have the vocabulary to highlight it as part of my research.”

    In her research, McSorley takes an expansive view of the federal and local policies, systems, and agencies that affect our health.

    “I think of traditional health policies,” McSorley says. “But I also think of others in our social sphere, like economic policies, that also ultimately shape health outcomes.”

    McSorley recently contributed three papers to a historical special edition of the American Journal of Public Health – the first to exclusively focus on Latino health issues – in which Puerto Rico is prominently featured.

    McSorley was the first author on one of these papers focusing on three key policy areas contributing to health and health care inequities in Puerto Rico: FEMA, Medicaid, and political representation in the island area.

    McSorley and her collaborators assess the ways in which the distribution of FEMA aid and Medicaid funds to the territory perpetuate health disparities.

    McSorley’s paper also highlights the role of political representation, or the lack thereof, in the differential application of federal policies in the territory of Puerto Rico.

    “Yes, these are matters of health policy,” says McSorley. “However, it’s also a question of political processes, potential political biases, and power dynamics.”

    As a territory, Puerto Rico is not a self-governing state. Puerto Ricans in Puerto Rico are U.S. citizens but cannot vote in presidential elections. They are governed by policies enacted by the U.S. Congress, thousands of miles away.

    In a major election year, Puerto Rico’s unresolved status as a territory could become a mobilizing issue across the Latino community, McSorley says.

    Anna-Michelle McSorley from the Department of Allied Health Sciences at UConn Waterbury. (Jason Sheldon/UConn photo)

    “After all, what is being observed in Puerto Rico also serves as a sort of ‘canary in the coal mine’ for communities across the States,” says McSorley. “For instance, the Medicaid block grant structure employed in Puerto Rico has been proposed as an alternative Medicaid funding structure in the States. If applied, this could lead to the same types of cuts to benefits we see in Puerto Rico.”

    The other papers to which McSorley contributed in this edition focus on improving data collected on Latino groups. Data often treats Latino populations as a monolith. However, this group includes dozens of unique populations.

    One paper calls for better empirical methods for data collection and health statistics that more accurately represent the population. The second paper focuses on Latino reproductive health inequities.

    “I want to address data gaps,” McSorley says. “How we collect data on Latinos, and Puerto Ricans specifically in the U.S. or the territory matters in terms of honoring different needs of populations.”

    This work relates to CAHNR’s Strategic Vision area focused on Promoting Diversity, Equity, Inclusion, and Justice and Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

  • MIL-OSI USA: Biomedical Engineering Scientist Receives $1.5 Million General Medicine Grant

    Source: US State of Connecticut

    An accomplished bioengineering researcher at UConn’s College of Engineering (CoE) has received a $1.5 million National Institute of Health grant for his pioneering work in the field of computation-aided molecular design of DNA-inspired Janus Base Nanopieces (JBNps). These are a family of novel biomaterials that mimic DNA and are used in therapeutic and regenerative treatments for people with arthritis, cancer, and neurological diseases.

    “JBNps have a distinct advantage for delivery into ‘hard-to-penetrate’ tissues such as articular cartilage, solid tumors, kidneys and the central nervous system,” says Biomedical Engineering Associate Professor Yupeng Chen. “The impact in treatments will be significant.”

    Chen is the principal investigator and grant recipient, and is studying the impact of manipulating Messenger RNA (mRNA), a molecule that carries the genetic instructions from DNA in the cell nucleus to the ribosomes in the cytoplasm, where those instructions are used to build proteins.

    Essentially, Chen explains, mRNA acts like a “message carrier” to tell the cell which proteins to make.

    “We will develop a novel delivery technology by manipulating the bio-interface properties of the DNA-inspired Janus Base Nanopieces,” Chen says. “JBNps are slimmer than conventional spherical particles, allowing for enhanced infiltration into tissue matrices and barriers.”

    Messenger RNA, Chen adds, is the key ingredient in COVID-19 vaccines and anti-inflammatory drugs and offers the potential for myriad other applications. But there are numerous obstacles to overcome, he states. Unlike many chemical molecules or antibody proteins, mRNAs need to be delivered into cell cytoplasm to be functional. Various types of materials have been developed for successful intracellular delivery of small RNAs, but it is still a major challenge to achieve effective delivery of mRNAs at both cellular and systemic levels.

    Yupeng Chen (photo by Christopher LaRosa)

    Chen cites the study of arthritis as an example. Infiltrating articular cartilage, he says, poses a significant delivery challenge because its matrix has minuscule pore sizes. As a result, no disease-modifying drug exists to treat this condition. JBNps, he explains are smaller and more effectively shaped than the formulations currently being used. They are manufactured through the non-covalent assembly of Janus Bases, allowing researchers to control their formulations and properties by simply mixing different types of Janus Bases.

    “For instance, we can use sidechain-modified Janus Bases for endosomal escape, zwitterion-modified ones for improved biodistribution, and unmodified Janus Bases as the basic building blocks for mRNA loading,” Chen says. “Additionally, focusing on molecule-linked Janus bases can be used for tissue targeting. In this way, JBNps can be easily tailored for a variety of purposes. We expect to develop sidechain-modified JBNps for the most effective mRNA delivery to treat cartilage diseases such as arthritis.”

    Last year, Chen and a student team received international notoriety when NASA astronauts aboard the International Space Station (ISS) conducted an inflight, microgravity proof-of-concept study involving the fabrication of JBNps. During their experimentation, the astronauts communicated directly with Chen and some of his students via Axiom Space and Eascra Biotech as implementation and industry partners at their lab on the UConn campus in Storrs, Connecticut.

    During the course of this four-year grant, Chen will be working with Dr. Ying Li from the University of Wisconsin, an expert in multiscale computational modeling and machine learning; and Dr. Harvey Lodish from MIT, who will provide expertise in cell and RNA biology and therapeutic development. Their proposal, he adds, is built on successful preliminary results and recent publication in high-impact journals such as in PNAS, Science Advances, Angewandte Chemie, ACS Nano, Advanced Functional Materials, Biomaterials, Computational Mechanics, and others.

    MIL OSI USA News –

  • MIL-OSI USA: Husky Back on Football Field Thanks to UConn Health Sports Medicine

    Source: US State of Connecticut

    Like most children in Germany, Alex Honig played soccer, but he fell in love with football. Following in the footsteps of his father, who played football in Germany, he moved onto flag football, then tackle around age 13. He was rated the No. 1 quarterback and overall player in Germany, and excelled for the Schwäbisch Hall Unicorns, one of the top American football youth teams in Germany.

    His college career started at Texas Christian University (TCU) and in 2023 he transferred to UConn. He played tight end in the first two games of the 2023 season before he suffered an injury during a routine block at Georgia State, costing him the rest of the season.

    Dr. Robert Arciero, Sports Medicine Division chief in UConn Health’s Department of Orthopedic Surgery and head orthopedic team physician at UConn, saw Honig when the team returned.

    Dr. Robert Arciero, Sports Medicine Division chief in UConn Health’s Department of Orthopedic Surgery and head orthopedic team physician at UConn

    “It was obvious on the physical exam that Honig tore the ligament holding the kneecap,” Arciero says. “He’s a big man and plays in a rough sport, where you hit people on purpose, so it became obvious, to get him back and have him not have a recurrent dislocating patella, that we needed to fix it by repairing the ligament. And in his case, augmenting it with a graph to make it stronger.”

    The team physicians from UConn Health help maximize performance, prevent injuries and get UConn athletes back on the field or court after illness or injury.

    Arciero explains that every individual athlete gets the same level of care, which includes a topflight training staff at UConn, where trainers are with the athletes every time they are on the court or field. When they get injured, the team physicians are on speed dial. In Storrs, the team physicians see the athletes once a week and are able to see an athlete within hours of an injury. At UConn Health, advanced imaging capabilities enable prompt MRIs and CT scans.

    “Frankly our surgery center has some of the most experienced anesthesiologists, surgical techs, nurses, and staff, which is why I bring my athletes here,” says Arciero ” because I know I am going to give them the best shot I can. It all comes from a mindset and dedication, but then having all these pieces in place that can respond make it top notch.

    “We get many people back to being active, but getting athletes back to the elite level at the same professional level is the thing that drives us.”

    If you play sports, you are potentially going to get hurt. The team physicians rapidly evaluate, diagnose and put treatment into place whether it is nonsurgical, rehabilitative, or in-depth surgery.

    “The goal: They are happy and can return to their sport at the same level,” Arciero says. “That’s the key.”

    Alex Honig, UConn Football (Photo Credit: UConn Athletics)

    When Honig was taken out of the game, he realized he had a long road to recovery.

    “Dr. Arciero walked me through the injury and laid out what I needed to recover,” says Honig.  “I never had surgery before, and he was really good at explaining everything to me, including the surgery and the recovery process.”

    “You have a discussion. Some people would argue that you can fix this without an operation, and that would be applicable to someone who is sedentary, where you let the ligament try to heal on his own, but this does not define Alex, who works out every day and plays a collision sport. So, it became a discussion with him. I told him we could choose not to operate on it, but if we chose that route, it would become a recurrent problem,” explains Arciero.

    Trust is crucial for team physicians and athletes, and in addition to reputation, Arciero says the other part of trust is face time.

    “Being with the team, showing up early on a travel flight, talking to the kids and coaches, and balancing that with being like paint on the wall, because no one likes the team doctor,” Arciero says.  “We are like the grim reaper: We usually have bad news, and the only time we have good news is when we tell them they can go back to play.

    “It’s important to talk to them about their problems, they are pretty smart, they have a lot of resources, and they will challenge you, but you need to sit with them, look them in the eye and answer their questions, and really make an effort that they understand – that’s how you build trust. You also have to be able to bring the goods and have good outcomes.”

    According to Honig, the first few days were tough. Using crutches, sleeping and moving around were hard. He had to relearn how to walk, and the rehab was different from what he was used to when working out with heavy weights.

    Honig says he had lots of support, listened to his body and talked with the doctors regularly, including weekly check-ins with Arciero to make sure rehab was going well. Honig found it easy to set goals and work toward them.

    “It’s scary, but following the guiding hands of the doctors and the trainers who have been here before and are supportive, their confidence is contagious, and you trust them,” says Honig.

    He adds: “Football is unique: you practice and prepare all year and have 12 chances to play the game after preparing all year. It was important for me to find a way to support the team while focusing on rehab.”

    By January he felt confident running again. By spring practice in March, he was cleared to practice and play in the spring game while wearing a brace.

    “It felt good and got the excitement going again. Personally, I feel like I have developed and changed my perspective,” says Honig.

    Honig is back on the field, playing well in what has become an exciting season for the football team. He feels faster and stronger this season.

    “Nothing makes me happier to see the player back on the field, when you see them on the sideline coming back after an injury and they say, ‘It’s all you, doc.’ That’s all I need,” says Arciero. “That’s what keeps a sports physician taking care of athletes.”

    UConn Health Orthopedics and Sports Medicine has a long tradition of providing medical care for the UConn Huskies, professional sports teams, and other organizations, and is proud to help keep some of the world’s top athletes on the field, on the court, and in the game.

    And the best news? You don’t have to be a Husky to be seen by a Husky. UConn Health believes that everyone deserves world-class orthopedic care whether you’re an elite athlete, weekend warrior, or you hurt your shoulder while mowing the lawn.

    Learn more about UConn Health Orthopedics and Sports Medicine or request an appointment with a  doctor.

    MIL OSI USA News –

  • MIL-OSI Global: Four reasons weight-loss jabs alone won’t help get people back to work

    Source: The Conversation – UK – By Lucie Nield, Senior Lecturer in Nutrition and Dietetics, Sheffield Hallam University

    Weight-loss injectables don’t address the many core reasons for why weight gain and unemployment occur in the first place. oleschwander/ Shutterstock

    Prime Minister Keir Starmer and health secretary Wes Streeting have recently discussed plans to trial weight-loss injections for around 250,000 people with obesity who are unemployed in a bid to get them back into work, ease pressure on the NHS and boost the economy.

    Obesity is estimated to cost UK society around £35 billion annually. This is due to lower productivity and higher NHS treatment costs.

    Around 26% of the English adult population (approximately 15 million) are considered obese. However, it’s not known what proportion of unemployed people are obese.

    While weight-loss injections have proven to be very effective in helping people who are obese to lose weight and lower their risk of certain chronic diseases, there are many reasons why these drugs alone won’t help tackle obesity and unemployment rates in the UK.

    1. Lack of capacity

    The majority of UK people who are obese are likely to meet the National Institute for Health and Care Excellence’s eligibility criteria for weight-loss injections.

    But prescribing these drugs is just one part of the equation. Eligible patients will require support from specialist services who provide guidance in making the appropriate lifestyle changes (such as to their diet) to successfully lose weight while on these drugs. This is crucial, as all of the weight-loss injection trials to date have involved a behaviour change component. This may potentially be key to the successful weight losses observed in these studies.

    However, current demand for weight-loss services is already outstripping capacity. Nearly half of eligible patients in England are unable to get an appointment with a specialist team. Weight-loss injections can only be prescribed through such services currently. If the government is to roll out the proposed programme, they will need to rethink the way weight-loss services are delivered so all eligible patients can access support.

    2. Won’t work for everyone

    Weight-loss jabs don’t necessarily work for everyone. One study found that 9-15% of participants who took the drug tirzepatide (Mounjaro) did not lose clinically significant amounts of weight.

    Weight-loss jabs may also cause intolerable side-effects for some. Trials have shown between 4-8% of participants couldn’t tolerate the side-effects, causing them to drop out of the study. Constipation, diarrhoea and nausea are some of the most commonly reported.

    People with certain health conditions may be unable to use weight-loss injections – such as those with inflammatory bowel disease and pancreatitis. In such cases, weight-loss jabs may worsen symptoms or interact with the prescription drugs used to manage these conditions, increasing risk of harm.

    There are many reasons why weight-loss jabs may not work for a person.
    Douglas Cliff/ Shutterstock

    Additionally, some people may not want to take an injection – whether that’s simply due to personal preference or even fear of needles.

    3. Obesity is a complex issue

    There are many complex factors that contribute to weight gain – such as opportunities for physical activity, access to healthy foods and levels of deprivation in a community. Prescribing weight-loss jabs to help people lose weight may not be effective long-term if the rest of these factors are not also addressed.

    A more effective way of seeing significant, sustainable reductions in obesity levels across a population is by using a “whole systems approach”. This would address to the multiple environmental, social and economic factors that contribute to obesity.

    Where whole systems approaches have been embedded in healthcare design and delivery, they have led to improvements in services and patient outcomes – including obesity-related metrics (such as patients making healthier food choices and being more active).

    However, one limitation to whole systems approaches is challenges in measuring impact. This can reduce political will to implement these approaches.

    4. Obesity stigma

    Obesity stigma in the workplace is a huge barrier to satisfactory employment and leads to poor wellbeing and burnout.

    Obesity stigma in the workplace perpetuates harmful weight-based stereotypes that overweight and obese people are lazy, unsuccessful, unintelligent and lack willpower. As a result, people with obesity are more likely to be in insecure and lower-paid jobs than those who may be considered of a healthy weight.

    It’s also well-evidenced that regular exposure to stigmatising, isolating and degrading prejudices has long-term consequences on physical and mental health – and may lead to problems such as binge eating and depression.This can lead to a loss of productivity, absenteeism and loneliness.

    Prescribing weight-loss jabs to help a person lose weight doesn’t address the core reasons for why they may have been absent from work or unemployed in the first place. Nor does it help to address the mental health struggles they may still harbour as a result of discrimination they might have experienced.

    5. Barriers to employment

    Weight loss alone does not begin to address the complex physical and mental health reasons for why a person might be unemployed. A person may also be unemployed due to factors such as caring responsibilities or disability.

    Current prescribing restrictions also limit some injections to a maximum of 24 months (although further trials are ongoing). This means that even if a person has successfully lost weight, they may regain that weight again when they stop using the drug. This could mean any health problems they experienced prior to losing weight (and which may have prevented them from being in employment) could reemerge.

    There are better ways of getting people back into work than prescribing weight-loss jabs. Flexible working approaches, for instance, may make it easier for someone who is unemployed due to caring responsibilities or health problems to transition back into employment. Supportive policies and workplace wellbeing programmes may be a more cost-effective way of helping people to overcome barriers, improve their health and transition back into work.

    Lucie Nield has received funding from The National Institute for Health Research (NIHR) for evaluation of children’s weight management services.

    Lucie Nield sits on the Board of Trustees for Darnall Wellbeing (a local community service organisation).

    – ref. Four reasons weight-loss jabs alone won’t help get people back to work – https://theconversation.com/four-reasons-weight-loss-jabs-alone-wont-help-get-people-back-to-work-241835

    MIL OSI – Global Reports –

  • MIL-OSI Global: Humans evolved to share beds – how your sleeping companions may affect you now

    Source: The Conversation – UK – By Goffredina Spanò, Lecturer in Developmental Cognitive Neuroscience, Kingston University

    Jacob Lund/Shutterstock

    Recent research on animal sleep behaviour has revealed that sleep is influenced by the animals around them. Olive baboons, for instance, sleep less as group sizes increase, while mice can synchronise their rapid eye movement (REM) cycles.

    In western society, many people expect to sleep alone, if not with a romantic partner. But as with other group-living animals, human co-sleeping is common, despite some cultural and age-related variation. And in many cultures, bedsharing with a relative is considered typical.

    Apart from western countries, caregiver-infant co-sleeping is common, with rates as high as 60-100% in parts of South America, Asia and Africa.

    Despite its prevalence, infant co-sleeping is controversial. Some western perspectives, that value self-reliance, argue that sleeping alone promotes self-soothing when the baby wakes in the night. But evolutionary scientists argue that co-sleeping has been important to help keep infants warm and safe throughout human existence.

    Many cultures do not expect babies to self-soothe when they wake in the night and see night wakings as a normal part of breastfeeding and development.

    Concerns about Sudden Infant Death Syndrome (Sids) have often led paediatricians to discourage bed-sharing. However, when studies control for other Sids risk factors including unsafe sleeping surfaces, Sids risk does not seem to differ statistically between co-sleeping and solitary sleeping infants.

    This may be one reason why agencies such as the American Academy of Pediatrics, the National Institute for Health and Care Excellence and the NHS either recommend that infants “sleep in the parents’ room, close to the parents’ bed, but on a separate surface,” or, if bedsharing, to make sure that the infant “sleeps on a firm, flat mattress” without pillows and duvets, rather than discouraging co-sleeping altogether.

    Researchers don’t yet know whether co-sleeping causes differences in sleep or, whether co-sleeping happens because of these differences. However, experiments in the 1990s suggested that co-sleeping can encourage more sustained and frequent bouts of breastfeeding. Using sensors to measure brain activity, this research also suggested that infants’ and caregivers’ sleep may be lighter during co-sleeping. But researchers speculated that this lighter sleep may actually help protect against Sids by providing infants more opportunities to rouse from sleep and develop better control over their respiratory system.

    Other advocates believe that co-sleeping benefits infants’ emotional and mental health by promoting parent-child bonding and aiding infants’ stress hormone regulation. However, current data is inconclusive, with most studies showing mixed findings or no differences between co-sleepers and solitary sleepers with respect to short and long-term mental health.

    Co-sleeping in childhood

    Childhood co-sleeping past infancy is also fairly common according to worldwide surveys. A 2010 survey of over 7,000 UK families found 6% of children were constant bedsharers up to at least four years old.

    Some families adopt co-sleeping in response to their child having trouble sleeping. But child-parent bedsharing in many countries, including some western countries like Sweden where children often co-sleep with parents until school age, is viewed culturally as part of a nurturing environment.

    It’s normal for children to bedshare in many parts of the world.
    Yuri A/ Shutterstock

    It is also common for siblings to share a room or even a bed. A 2021 US study found that over 36% of young children aged three to five years bedshared in some form overnight, whether with caregivers, siblings, pets or some combination. Co-sleeping decreases but is still present among older children, with up to 13.8% of co-sleeping parents in Australia, the UK and other countries reporting that their child was between five and 12 years old when they engaged in co-sleeping.

    Two recent US studies using wrist-worn actigraphs (motion sensors) to track sleep indicated that kids who bedshare may have shorter sleep durations than children who sleep alone. But this shorter sleep duration is not explained by greater disruption during sleep. Instead, bedsharing children may lose sleep by going to bed later than solitary sleepers.

    The benefits and downsides of co-sleeping may also differ in children with conditions such as autism spectrum disorder, mental health disorders and chronic illnesses. These children may experience heightened anxiety, sensory sensitivities and physical discomfort that make falling and staying asleep difficult. For them, co-sleeping can provide reassurance.

    Adults sharing beds

    According to a 2018 survey from the US National Sleep Foundation, 80-89% of adults who live with their significant other share a bed with them. Adult bedsharing has shifted over time from pre-industrial communal arrangements, including whole families and other household guests, to solo sleeping in response to hygiene concerns as germ theory became accepted.

    Many couples find that bedsharing boosts their sense of closeness. Research shows that bedsharing with your partner can lead to longer sleep times and a feeling of better sleep overall.

    Bedsharing couples also often get into sync with each other’s sleep stages, which can enhance that feeling of intimacy. However, it’s not all rosy. Some studies indicate that females in heterosexual relationships may struggle more with sleep quality when bedsharing, as they can be more easily disturbed by their male partner’s movements. Also, bedsharers can have less deep sleep than when sleeping alone, even though they feel like their sleep is better together.

    Many questions about co-sleeping remain unanswered. For instance, we don’t fully understand the developmental effects of co-sleeping on children, or the benefits of co-sleeping for adults beyond female-male romantic partners. But, some work suggests that co-sleeping can comfort us, similar to other forms of social contact, and help to enhance physical synchrony between parents and children.

    Co-sleeping doesn’t have a one-size-fits-all answer. But remember that western norms aren’t necessarily the ones we have evolved with. So consider factors such as sleep disorders, health and age in your decision to co-sleep, rather than what everyone else is doing.

    Gina Mason receives funding from the American Academy of Sleep Medicine Foundation (grant #334-BS-24). The views expressed herein are her own, and do not represent the official views of the Academy or any other professional organization with which she is affiliated.

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

    – ref. Humans evolved to share beds – how your sleeping companions may affect you now – https://theconversation.com/humans-evolved-to-share-beds-how-your-sleeping-companions-may-affect-you-now-241803

    MIL OSI – Global Reports –

  • MIL-OSI: MEF’s Enterprise Leadership Council Triples in Size, Driving Key Initiatives in Service Automation, Cybersecurity, and AI-Ops

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 29, 2024 (GLOBE NEWSWIRE) — MEF, a global industry association of network, cloud, security, and technology providers accelerating enterprise digital transformation, today announced the expansion of its Enterprise Leadership Council (ELC) from four founding members to 14 leaders representing a diverse range of industries. Formed one year ago, the ELC now includes executives from sectors such as entertainment, financial services, banking, retail, technology, healthcare, and consulting.

    This expansion highlights MEF’s commitment to providing real value to enterprises exploring Network-as-a-Service (NaaS) opportunities, reinforcing its role as an independent platform where enterprises, service providers, cloud, technology companies, and other key stakeholders, collaborate on initiatives shaping the future of the digital ecosystem. With expanded enterprise participation, the organization is poised to drive impactful projects that address cloud, network, and security challenges head-on, propelling innovation across industries.

    The ELC’s growth also reflects the increasing importance of enterprise perspectives in shaping MEF’s NaaS-related work. By tripling its membership in just one year, the council now offers a broader and more comprehensive view of enterprise needs across various sectors and has begun shaping strategic initiatives in areas such as service automation, cybersecurity services, compliance, and AI-Ops. 

    The ELC includes:

    • Francisco Artes, Vice President, Product & Enterprise Security, Roku
    • Nabil Bitar, Chief Technology Officer & Head of Network Architecture, Bloomberg LP
    • Maxime Bruynbroeck, Head of Network, Decathlon
    • Chris Carmody, Chief Technology Officer & Senior Vice President, Information Technology Division, UPMC
    • Daniel Foo, Head of Grabber Technology Solutions (GTS), Grab
    • Michael Jenkins, Strategic Negotiator, Google Enterprise Network
    • Amin Jerraya, Senior Vice President, Head of IT Digital Engagement and Infrastructure, Siemens Healthineers
    • Mark Looker, Managing Director and Head of Voice & Data Network Service, Morgan Stanley
    • Raleigh Mann, Senior Vice President of Technology, Williams-Sonoma, Inc.
    • Amo Mann, Chief Architect for Cloud and Network, Accenture
    • Chema San José, Head of Data & AI Architecture – CTO Global, Santander Digital Services
    • Neal Secher, Vice President, Head of Network Services, TD Bank
    • Jonathan Sheldrake, Vice President of IT – Infrastructure & Services, Burberry
    • Alejandro Tozer, Independent

    “The expansion of the Enterprise Leadership Council marks a pivotal moment in MEF’s evolution,” said Sunil Khandekar, Chief Enterprise Development Officer, MEF. “By amplifying the enterprise voice, we’re not only responding to current industry needs, but anticipating future ones. The ELC’s diverse expertise is already shaping MEF’s NaaS initiatives, which will drive real solutions for today’s challenges and lay the foundation for tomorrow’s innovations. This level of collaboration sets a new standard for how industry associations can lead meaningful progress.”

    A first initiative for the ELC is MEF’s recently launched Lifecycle Service Orchestration (LSO) Circuit Impairment & Maintenance (CIM) Service API, designed to enable service providers to automate and standardize how network circuit impairments and scheduled maintenance are communicated to enterprises. The CIM Service API will be showcased during a live demonstration at MEF’s Global NaaS Event (GNE) this week in Dallas, highlighting how enterprises can collaborate with service providers to proactively identify and address impairments and streamline network maintenance.

    As ELC-led initiatives continue to advance, MEF is attracting more enterprises eager to collaborate with technology, cloud, and service providers on MEF’s independent platform. Together, they contribute to and benefit from solutions that address critical needs in cloud, network, and cybersecurity infrastructure, accelerating digital transformation across sectors.

    Learn More
    Enterprises interested in joining MEF and contributing to projects that directly address their needs are encouraged to visit www.mef.net for more information on membership and engagement opportunities.

    About MEF
    MEF is a global consortium of service, cloud, cybersecurity, and technology providers collaborating to accelerate enterprise digital transformation. It delivers standards-based frameworks, services, technologies, APIs, and certification programs to enable Network-as-a-Service (NaaS) across an automated ecosystem. MEF is the defining authority for certified Lifecycle Service Orchestration (LSO) business and operational APIs and Carrier Ethernet, SASE, SD-WAN, Zero Trust, and Security Service Edge (SSE) technologies and services. MEF’s Global NaaS Event (GNE) convenes industry leaders building and delivering the next generation of NaaS solutions. For more information about MEF, visit MEF.net and follow us on LinkedIn and Twitter.

    Media Contact:
    Melissa Power
    MEF
    pr@mef.net

    The MIL Network –

  • MIL-OSI Security: Defense News: CNO Franchetti and MCPON Honea visit NSWC Panama City Division

    Source: United States Navy

    Franchetti and Honea’s visit provided the opportunity for them to see firsthand how NSWC PCD, one of the Navy’s premiere research, development, test and evaluation laboratories, supports the fleet through capabilities including mine warfare, expeditionary warfare, robotics, autonomous systems, and naval special warfare.

    “It was really exciting to see all the amazing work that is going on all around here. I got to walk around and talk with many [people from this workforce], the commands here and the service members,” said Franchetti. “I’m very excited about the future. It is a very bright future thanks to all the great work that you’re doing here today and have been doing for quite some time.”

    Franchetti and Honea spent the first part of their visit engaging with sailors and civilians, while learning more about capabilities to ensure wartime readiness.

    “NSWC PCD continues to meet mission readiness by ensuring alignment to the CNO’s Navigation Plan, which poises our Navy to enhance the Navy’s long-term advantage,” said Capt. David Back, NSWC PCD commanding officer. “It is an honor to host the CNO and MCPON.”

    Dr. Peter Adair, SES, NSWC PCD technical director, emphasized the significance of getting NSWC PCD’s capabilities to the fleet rapidly.

    “Taking sailors and marines out of harm’s way and reducing the operational timeline is imperative. Unmanned technologies are how we are going to get there,” said Adair. “It is our role to ensure the fleet has the capabilities they need for today, tomorrow and the Navy after next.”

    The visit concluded with a CNO and MCPON-led All Hands Call with sailors and civilians across Naval Support Activity Panama City.

    The warfighter is the Navy’s asymmetric advantage. Franchetti’s Navigation Plan 2024 America’s Warfighting Navy outlines the need to build our unmatched warfighting teams—active and reserve Sailors, with Navy civilians—through a relentless focus on training and learning.

    “When I am asked ‘who is the warfighter’ many groups of people come to mind. There are our sailors, on the frontline, but there are also those in the behind the scenes that contribute significantly to Project 33 and to the Navy getting real, getting better,” said Franchetti during her All-Hands address. “I am incredibly grateful for the hard work each of you put into ensuring our mission not only advances operationally, but processes continue to improve so we can support the frontline more efficiently and safely.”

    Fourteen individuals were recognized for their significant contributions to the Navy, including 13 sailor recognitions for achievements.

    CNO and MCPON presented a Meritorious Civilian Service Award to Andrea Perles, leader in mine warfare for the U.S. Navy. NSWC PCD also announced Hospital Corpsman Second Class Nicholas Harburckak from Chambers, Neb., as the Junior Sailor of the Year and Aviation Ordnanceman First Class Kevin Rodriguez from Smithfield, Va., as the Sailor of the Year at this installation.

    The visit provided Franchetti and Honea with a richer understanding of NSWC PCD’s mission to support the America’s Warfighting Navy.

    “It is your efforts, your dedication, and your expertise that provides us with the capabilities and enablement of manned and unmanned vessels in the fleet,” said Honea. “Whether you are wearing a uniform or intricately in the behind the scenes, the work you do matters.”

    This was Franchetti and Honea’s first visit to NSWC PCD as Chief of Naval Operations and Master Chief Petty Officer of the Navy.

    MIL Security OSI –

  • MIL-OSI USA: Shaheen Leads Roundtable on Youth Substance Misuse Prevention in Claremont, Visits Hypertherm to Discuss Workforce Development, Continues “Invest in NH Tour” With Visit to Schaefer Center for Health Sciences at Colby-Sawyer College Nursing School

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Claremont, NH) – U.S. Senator Jeanne Shaheen (D-NH) led a roundtable in Claremont on substance misuse prevention with Youth CAN leadership and community members. She then visited Hypertherm in Lebanon to discuss workforce challenges, housing and child care. Later, Shaheen continued her “Invest in NH Tour” with a visit to the Schaefer Center for Health Sciences at the Colby-Sawyer College Nursing School, which she secured funding to build. Photos from today’s events can be found here.

    In Claremont, Shaheen led a roundtable with the Youth CAN coalition leadership team and community partners to discuss the organization’s work to prevent youth substance misuse in the Claremont and Newport area. Youth CAN is part of the Drug-Free Communities (DFC) Program which provides grants to local community coalitions to address the youth substance use disorder crisis.

    “It is crucial that we reach children as early as possible to educate them about the dangers of substance misuse, and one of our most effective tools to do that is the Drug-Free Communities Program, said Senator Shaheen. “I’ve strongly advocated for the program and was happy to meet with Claremont and Newport’s coalition and discuss their critical work to prevent substance misuse.”

    Shaheen has spearheaded crucial legislation and funding to stem the opioid epidemic, including to support the DFC Program. Shaheen recently introduced the Keeping Drugs Out of Schools Act to establish a new grant program that allows DFC coalitions to partner with schools to provide resources educating students about the dangers of drug use.

    Shaheen then visited Hypertherm, an employee-owned manufacturer of cutting products and software, to tour its facility and discuss the company’s in-house technical training program for workforce development, as well as engagement with Vital Communities’ Corporate Council to address regional housing and child care challenges. Vital Communities’ Corporate Council collaborates with Upper Valley employers to help solve the challenges they’re facing.

    “Many Granite State businesses, like Hypertherm in Lebanon, face complex barriers to recruiting and retaining a workforce,” said Senator Shaheen. “I was pleased to visit Hypertherm to learn more about the manufacturer’s innovative approach to workforce development and their collaboration with Vital Communities as well as discuss how Congress can continue help New Hampshire businesses address housing and child care challenges.”

    Senator Shaheen has long supported programs that support workforce development and increase opportunities and growth for New Hampshire businesses, including by tackling New Hampshire’s housing affordability crisis and the child care crisis. Recently, Shaheen joined Acting Secretary of Labor Julie Su at A Place to Grow to host a roundtable discussion at the facility to discuss the first U.S. Department of Labor approved apprenticeship program for early childhood education operations managers and a new report emphasizing the importance of care workers.

    Later, as part of her “Invest in NH Tour”, Shaheen visited the Schaefer Center for Health Sciences at Colby-Sawyer College to discuss its new nursing and health sciences facility, which is funded in part by Congressionally Directed Spending. Shaheen secured $1.5 million in the Fiscal Year 2022 government funding legislation to construct the new building and to help address critical health care workforce needs by training the next generation of nurses.

    “As health care workforce shortages continue to impact our state, I was glad to visit and tour the Schaefer Center for Health Sciences at Colby-Sawyer College where they’re training the next generation of nurses,” said Senator Shaheen. “I secured funding to help construct the building and was glad to learn more about how the program is working to fill desperately needed nursing positions in the Granite State.”

    Senator Shaheen has spearheaded numerous efforts in the Senate in support of New Hampshire’s health care workforce. During negotiations surrounding the American Rescue Plan Act, Shaheen helped steer efforts to increase funding for the Provider Relief Fund (PRF) to ensure hospitals, nursing homes and other health care providers on the frontlines had the support they needed to keep their doors open and continue to care for patients. As a senior member of the U.S. Senate Appropriations Committee, Shaheen secured $17,419,000 in Congressionally Directed Spending in the FY 2024 government funding legislation to support health care and education needs in the Granite State.

    MIL OSI USA News –

  • MIL-OSI USA: NASA Group Amplifies Voices of Employees with Disabilities

    Source: NASA

    Kathy Clark started her career at NASA’s Glenn Research Center in Cleveland straight out of high school, and when offered either a job as an accountant or a job in training, the choice was crystal clear.
    “I started in training, I’ve stayed in training, and I’ll probably retire in training,” said Clark, now a human resources specialist and program manager of NASA Glenn’s mentoring program, Shaping Professionals and Relating Knowledge (SPARK). “I just love people.”
    Celebrating 41 years at NASA this October, Clark has long been an advocate for employees. For over 12 years, she served as chair of the center’s Disability Awareness Advisory Group (DAAG), which works to help provide individuals with disabilities equal opportunities in all aspects of employment. The group also strives to identify and eliminate workplace barriers, raise awareness, and ensure accessible facilities.
    After recently stepping down, Clark reflects on her legacy of creating change with the group and looks to the next generation of leadership, including longtime member and new chair Ryan D. Brown, to continue its important mission.
    “Don’t Let a Disability Stop You”
    Clark joined DAAG around 12 years into her career, after she was diagnosed with multiple sclerosis. She was later asked to serve as chair after she helped bring a traveling mural to the center that showcased Ohio artists with disabilities.
    During Clark’s time as chair, the group helped secure reserved parking spaces for employees with disabilities, instead of just relying on a first-come first-serve system for accessible spots. She recalls DAAG championing other facility issues, such as fixing a broken elevator and faulty door that presented challenges for folks with disabilities. The group has also worked with human resources to compile best practices for interviews, hosted various speakers, and offered a space for members to share about their disabilities.
    “I was honored to be the chair and just be there for the people and to try to make a difference, to let them know, if you need something, reach out,” Clark said. “Don’t let a disability stop you.”

    Kathy clark

    “Let’s Go Above and Beyond”
    When it was time to choose Clark’s successor, she said, another supportive and vocal member stood out: Brown.
    Thanks to an Ohio program for individuals with disabilities, Brown was placed at NASA as an intern in 2006, later completing a co-op that led to a full-time accounting position at the center, where he now works as a lead in the financial systems branch.
    More than one in four adults in the United States have some type of disability, according to the U.S. Centers for Disease Control and Prevention, and some are not always easy to see, Brown says. For instance, Brown has an invisible disability: a learning disability related to reading and writing. After connecting with a coworker early in his career who was a member of DAAG, Brown reached out to Clark to join.
    “Everyone has their challenges, regardless of if you have a disability or not, so making people comfortable talking about it and bringing it up is always good,” he said. “I think I’ve always liked speaking up for individuals and trying to spread that awareness, which has been great with DAAG.”
    Now the chair, Brown has supported the group in developing a job aid to help employees understand how to self-identify as having a disability. They’ve also recently organized awareness events to help other employees understand the experiences and challenges of individuals with disabilities.
    DAAG also continues to champion facility updates. For example, the group is currently working to get automatic door openers installed for bathrooms in buildings at the center where many employees gather.
    “Let’s try to go above and beyond and really make it easier on individuals,” Brown said.

    ryan D. brown

    “Make a Difference”
    Membership in the group is growing, and Clark looks forward to its future.
    “I could not have turned over the chair role to a better person than Ryan,” she said.
    Brown’s vision is to continue spreading the word that the group is available as a resource for employees, and for others throughout the center to be more aware of the experiences of individuals with disabilities. The work he does to help others inspires him every day, he says.
    “We’re here for individuals that don’t want to speak up, we’re here for individuals if they run into issues – they can always contact us,” Brown said. “It’s all about getting up there and trying to make a difference.”

    MIL OSI USA News –

  • MIL-OSI Security: NMRTC Twentynine Palms Sailors prepare for Keen Sword exercise in Japan

    Source: United States Navy (Medical)

    As U.S. forces gear up for the latest iteration of Keen Sword, Navy personnel from across the globe are preparing for one of the largest bilateral military exercises between the United States and Japan.

    Among those participating are Sailors from Navy Expeditionary Medical Facility (EMF) Bravo, currently stationed at Navy Medicine Readiness and Training Command (NMRTC) Twentynine Palms. These Sailors will provide essential medical support throughout the exercise, ensuring operational readiness extends to medical care in the field. Their involvement highlights the critical role that medical teams play in maintaining the health and effectiveness of deployed forces.

    The Oct. 23 to Nov. 1 exercise, aimed at testing operational readiness and strengthening combat interoperability, will bring together key military assets from both nations for a coordinated effort in maintaining regional security.

    Since 1986, Keen Sword has brought together thousands of American and Japanese service members to train for potential real-world conflicts, with a specific focus on joint operations. The exercise serves as a platform for the U.S. military to work alongside Japan’s Self-Defense Forces in a simulated, yet highly realistic, mass casualty environment.

    One of the many Sailors participating in the exercise is Hospital Corpsman 1st Class (HM1) Raymond Black from Colorado City, Arizona, a biomedical equipment repair technician. Black explained that the primary role of his team during the exercise is to set up and maintain a field hospital capable of receiving casualties in the event of an emergency.

    “Much of the operation will be conducted by the Navy on ships, but our role will be setting up the field hospital to be on standby for patient evacs,” said Black. “That way if this were a real-world event, we would be prepared to receive casualties.”

    The medical team participating in Keen Sword includes a wide variety of specialties, bringing together a broad range of medical expertise to support the mission effectively.

    “It’s pretty much anything you’d need,” Black expressed. “We’ve got biomeds like myself. We’ve got radiology. We’ve got preventative medicine. We’ve got a surgical team, admin — we’re going to be basically a full hospital.”

    Black, a seasoned biomed, has extensive experience serving overseas, having deployed to Iraq twice and Kuwait once. His deployments have given him a unique perspective on the challenges of maintaining and repairing medical equipment in a field setting.

    “Trying to perform maintenance and repairs while deployed is significantly harder,” Black said. “You might have to wait weeks for parts, or the equipment could be so old that they don’t make parts for it anymore. That experience helps me prepare for the unexpected challenges we might face in this exercise.”

    Lieutenant Junior Grade Belinda Larche, a patient administration officer originally hailing from Cameroon emphasized the importance of the exercise in evaluating readiness.

    “Keen Sword is designed to assess EMF Bravo’s ability to deploy within 10 days and provide Role III healthcare support in an austere environment,” she said.

    Larche, who has previously served overseas as a medical regulator (MEDREG) in Iraq, believes the skills she gained from her deployments will be critical during Keen Sword.

    “I served in Iraq as the MEDREG of 28 Joint and 9 Coalition Units across the Combined Joint Task Force Area of operations in the U.S. Central Command (CENTCOM),” Latched explained. “As the MEDREG for Navy Expeditionary Medical Unit Role-2E, I led a team of three medical operations personnel in executing 25 urgent, priority, and routine intra and inter-theater medical evacuations. I believe the skills I honed during that mission will greatly assist me and my team to accomplish Keen Sword successfully.”

    One of the less visible but equally essential roles during the exercise will be filled by Information Systems Technician 3rd Class Christopher Logan from Long Beach, California. Logan’s responsibilities include ensuring communication systems are fully operational, allowing seamless coordination during medical evacuations.

    “I am going to help run the systems, make sure that nothing goes down, and try to maintain network stability as a system administrator,” Logan said. “We’ll also be setting up communications so we can transmit medical information and better coordinate patient care.”

    HM1 Isai Lopez, a surgical technician from Florida, will assist in setting up and maintaining a sterile environment for potential surgeries. Lopez, who has previously served at NMRTC Rota and aboard the USS Essex, emphasized the value of training in realistic environments.

    “In this exercise, we have the privilege of training to receive patients in a mass casualty situation for multiple days to create the stressful environment the medical force may receive in a real-life scenario. This allows us to find ways to be as efficient as possible,” Lopez said. “It’s crucial that this isn’t the first time we’re exposed to these situations. The way this (exercise) becomes most effective is for those attending Keen Sword to share their experience with every Sailor.”

    Black also highlighted the exercise’s value for further bolstering strategic interoperability with Japan.

    “Keen Sword helps us work out problems so we can operate smoothly with our Japanese allies,” he said. “Because, with any operation, the main issue is always communications — who’s doing what, what needs to happen, and when. The goal is to make sure that, if a conflict arises, these questions are already answered to the point that we’re fully ready.”

    Keen Sword, which occurs every two years, reflects the ongoing commitment of the U.S. and Japan to maintain regional stability in the Indo-Pacific. This year’s exercise comes amid growing concerns about the security dynamics in the region, particularly with China’s increasing military presence.

    “We need to be prepared for anything,” Black added. “That’s why exercises like Keen Sword are so important.”

    MIL Security OSI –

  • MIL-OSI Russia: SPbGASU took part in a conference on fire-safe construction

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering –

    The International Scientific and Practical Conference “Fire-Safe Construction” was held at the St. Petersburg University of the State Fire Service of the Ministry of Emergency Situations of Russia at the Technopark of Science and High Technologies. The event was held as part of the forum “Security Service in Russia: Experience, Problems, Prospects” and brought together leading industry experts, representatives of government agencies, scientific institutions and specialized organizations to discuss current issues in the field of fire-safe construction.

    The conference brought together representatives of specialized organizations, the scientific community, and the public sector. Employees of government bodies, including representatives of the Construction Committee of St. Petersburg and the Leningrad Region, delivered welcoming remarks, emphasizing the importance of complying with fire safety standards to protect citizens and infrastructure.

    The delegation of SPbGASU included Dean of the Faculty of Civil Engineering Andrey Nikulin, who delivered a welcoming speech at the opening of the session, Head of the Department of Construction Organization Roman Motylev, Deputy Dean of the Faculty of Civil Engineering for Research, Associate Professor of the Department of Architectural and Civil Engineering Structures Olga Pastukh, Deputy Dean of the Faculty of Civil Engineering for Career Guidance, Associate Professor of the Department of Technosphere Safety Alexander Glukhanov and representatives of the Department of Metal and Wooden Structures: Professor, Doctor of Technical Sciences Alexander Chernykh and Associate Professor Stefania Mironova, who took an active part in the scientific discussion. Colleagues shared their experience and research in the field of fire safety both in labor protection in construction and during construction, testing of various construction materials for the construction of buildings and structures, focusing on personnel training and the implementation of advanced safety standards.

    As part of the section “Changes in legislation and new fire safety requirements”, Andrey Nikulin and Alexander Glukhanov presented a report “Training of personnel in the field of fire safety in construction. Problems and prospects”. In his speech, the dean emphasized that improving the quality of training specialists and strengthening the culture of fire safety is possible only with the active participation of mature, socially responsible businesses in the educational process. He noted that such interaction contributes to the development of high standards of fire safety at construction and operational sites, and also lays down important professional skills for future specialists.

    The conference became a platform for presenting the latest approaches to technical regulation, innovative materials and technologies aimed at preventing fires in the construction industry. Thus, the participants discussed expert analysis of existing standards, presented developments of materials with reduced flammability and new methods of automated fire extinguishing systems. One of the reports was devoted to the use of nanotechnology to create environmentally friendly, fire-resistant materials, as well as computer modeling methods for assessing the effectiveness of fire prevention measures.

    The conference concluded with a resolution containing recommendations for improving safety in the construction industry and calling for an update of fire safety standards. Participants noted the importance of government support, as well as the interest of business and educational institutions in the further development of a fire safety culture.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Security: Royal Netherlands Navy Team Visits U.S. Naval Hospital Guantanamo Bay, Boosting Joint Readiness and Emergency Care Capabilities

    Source: United States Navy (Medical)

    GUANTANAMO BAY, Cuba – A medical team from the Royal Netherlands Navy, stationed aboard the Dutch ship HNMLS Holland (P840), visited U.S. Naval Hospital Guantanamo Bay, early October, to tour the facility and assess its capabilities for potential emergency medical support.

    The delegation was welcomed by the hospital staff who provided a tour of the medical and emergency department facilities. The visit highlighted the hospital’s readiness to support allied forces in need.

    “The hospital is characterized as a ‘Role 2-plus’ facility which means we can provide advanced trauma management, perform emergency surgery, resuscitative care, stabilize patients and manage post-operative care,” said Hospital Corpsman 1st Class Edinson Rosales, the Operational Forces Medical Liaison for the hospital. “This is a greater capability than most ships operating within the area have and is essential in supporting distributed maritime operations.”

    The Holland, an offshore patrol vessel used for drug interdiction and anti-piracy operations in the West Indies, has Role 1 medical care capability. Role 1 is defined within the military health system as the ability to provide medical treatment, initial trauma care, and forward resuscitation, not including surgical care. In the event the ship has a need for greater care, it can contact the hospital.

    “Next to primary care, the nurse and doctor on board the ship are able to do damage control resuscitation and life-saving interventions for severely wounded or ill patients. However, when a patient needs specialty care, such as surgery or ICU care, we need to transport patients to a hospital,” said Royal Netherlands Navy Lt. Jan-Peter Schaap, the medical doctor aboard the Holland.

    “Whenever we get the chance, we like to see the hospitals in the ports that we are visiting. This way we get to know the facilities and the people within the hospital and therefore the medical possibilities,” said Schaap. “We are also responsible for providing medical care to the U.S. Coast Guard law enforcement personnel on board, so it is nice to have a U.S. Naval hospital to contact when we have questions regarding U.S. personnel.”

    The hospital’s capabilities and contact information is shared within the port visit documents of the Dutch Navy and is used throughout their fleet.

    “This visit underscores the importance of military-to-military support and cooperation,” said hospital Director for Administration, Lt. Cmdr. Jermaine Johnson. “Our ability to work seamlessly with our allies ensures that we can provide critical medical care during emergencies, enhancing our collective mission readiness.”

    Military-to-military support strengthens alliances, fosters mutual trust, and enhances operational effectiveness. The visit provided an opportunity for both teams to exchange knowledge and expertise, further solidifying the partnership between the U.S. and Dutch naval forces.

    “This collaboration is essential for ensuring that we can provide the best possible care to all service members, regardless of nationality and aligns with Navy Medicine’s global health engagements and the strategic goals of the Navy,” said Johnson.

    As global challenges continue to evolve, U.S. Navy leadership emphasizes the importance of robust military alliances and support systems.

    “Our hospital is in a remote part of the Caribbean where there isn’t a lot of support. The Naval station is strategic for maritime domain and the hospital is an important aspect of that strategy,” said Rosales.

    Force readiness is a priority to ensure warfighters are staying in the fight. Whether this fight is for drug interdiction, migrant operations, humanitarian assistance, or disaster relief, by providing expeditionary medical support we are maintaining a ready force,” said Rosales. “In this case, it’s for a NATO partner who wants to ensure the health, safety, and readiness of their force, and have identified us as way to close a healthcare gap by relying on joint capabilities.”

    U.S. Naval Hospital Guantanamo Bay is a community-based facility providing health care to the Naval Station Guantanamo Bay community that consists of approximately 5,000 military, federal employees, U.S. and foreign national contractors and their families. The hospital also operates the only overseas military home health care facility providing care to elderly Special Category Residents who sought asylum on the installation during the Cuban Revolution.

    Navy Medicine – represented by more than 44,000 highly-trained military and civilian health care professionals – provides enduring expeditionary medical support to the warfighter on, below, and above the sea, and ashore.

    MIL Security OSI –

  • MIL-OSI Africa: Brics+ could shape a new world order, but it lacks shared values and a unified identity

    Source: The Conversation – Africa – By Anthoni van Nieuwkerk, Professor of International and Diplomacy Studies, Thabo Mbeki African School of Public and International Affairs, University of South Africa

    The last two summits of Brics countries have raised questions about the coalition’s identity and purpose. This began to come into focus at the summit hosted by South Africa in 2023, and more acutely at the recent 2024 summit in Kazan, Russia.

    At both events the alliance undertook to expand its membership. In 2023, the first five Brics members – Brazil, Russia, India, China and South Africa – invited Iran, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates to join. All bar Saudi Arabia have now done so. The 2024 summit pledged to admit 13 more, perhaps as associates or “partner countries”.

    On paper, the nine-member Brics+ strikes a powerful pose. It has a combined population of about 3.5 billion, or 45% of the world’s people. Combined, its economies are worth more than US$28.5 trillion – about 28% of the global economy. With Iran, Saudi Arabia and the UAE as members, Brics+ produces about 44% of the world’s crude oil.

    Based on my research and policy advice to African foreign policy decision-makers, I would argue that there are three possible interpretations of the purpose of Brics+.

    • A club of self-interested members – a kind of global south cooperative. What I’d label as a self-help organisation.

    • A reforming bloc with a more ambitious goal of improving the workings of the current global order.

    • A disrupter, preparing to replace the western-dominated liberal world order.

    Analysing the commitments that were made at the meeting in Russia, I would argue that Brics+ sees itself more as a self-interested reformer. It represents the thinking among global south leaders about the nature of global order, and the possibilities of shaping a new order. This, as the world moves away from the financially dominant, yet declining western order (in terms of moral influence) led by the US. The move is to a multipolar order in which the east plays a leading role.

    Read more: Russia’s Brics summit shows determination for a new world order – but internal rifts will buy the west some time

    However, the ability of Brics+ to exploit such possibilities is constrained by its make-up and internal inconsistencies. These include a contested identity, incongruous values and lack of resources to convert political commitments into actionable plans.

    Summit outcomes

    The trend towards closer trade and financial cooperation and coordination stands out as a major achievement of the Kazan summit. Other achievements pertain to global governance and counter-terrorism.

    When it comes to trade and finance, the final communiqué said the following had been agreed:

    • adoption of local currencies in trade and financial transactions. The Kazan Declaration notes the benefits of faster, low cost, more efficient, transparent, safe and inclusive cross-border payment instruments. The guiding principle would be minimal trade barriers and non-discriminatory access.

    • establishment of a cross-border payment system. The declaration encourages correspondent banking networks within Brics, and enabling settlements in local currencies in line with the Brics Cross-Border Payments Initiative. This is voluntary and nonbinding and is to be discussed further.

    • creation of an enhanced roles for the New Development Bank, such as promoting infrastructure and sustainable development.

    • a proposed Brics Grain Exchange, to improve food security through enhanced trade in agricultural commodities.

    All nine Brics+ countries committed themselves to the principles of the UN Charter – peace and security, human rights, the rule of law, and development – primarily as a response to the western unilateral sanctions.

    Read more: South Africa walks a tightrope of international alliances – it needs Russia, China and the west

    The summit emphasised that dialogue and diplomacy should prevail over conflict in, among other places, the Middle East, Sudan, Haiti and Afghanistan.

    Faultlines and tensions

    Despite the positive tone of the Kazan declaration, there are serious structural fault lines and tensions inherent in the architecture and behaviour of Brics+. These might limit its ambitions to be a meaningful change agent.

    The members don’t even agree on the definition of Brics+. President Cyril Ramaphosa of South Africa calls it a platform. Others talk of a group (Russia’s President Vladimir Putin, India’s Prime Minister Narendra Modi) or a family (Chinese foreign ministry spokesperson Lin Jianan).

    So what could it be?

    Brics+ is state-driven – with civil society on the margins. It reminds one of the African Union, which pays lip service to citizens’ engagement in decision-making.

    One possibility is that it will evolve into an intergovernmental organisation with a constitution that sets up its agencies, functions and purposes. Examples include the World Health Organization, the African Development Bank and the UN general assembly.

    But it would need to cohere around shared values. What would they be?

    Critics point out that Brics+ consists of democracies (South Africa, Brazil, India), a theocracy (Iran), monarchies (UAE, Saudi Arabia) and authoritarian dictatorships (China, Russia). For South Africa this creates a domestic headache. At the Kazan summit, its president declared Russia a friend and ally. At home, its coalition partner in the government of national unity, the Democratic Alliance, declared Ukraine as a friend and ally.

    Read more: When two elephants fight: how the global south uses non-alignment to avoid great power rivalries

    There are also marked differences over issues such as the reform of the United Nations. For example, at the recent UN Summit of the Future the consensus was for reform of the UN security council. But will China and Russia, as permanent security council members, agree to more seats, with veto rights, on the council?

    As for violent conflict, humanitarian crises, corruption and crime, there is little from the Kazan summit that suggests agreement around action.

    Unity of purpose

    What about shared interests? A number of Brics+ members and the partner countries maintain close trade ties with the west, which regards Russia and Iran as enemies and China as a global threat.

    Some, such as India and South Africa, use the foreign policy notions of strategic ambiguity or active non-alignment to mask the reality of trading with east, west, north and south.

    The harsh truth of international relations is there are no permanent friends or enemies, only permanent interests. The Brics+ alliance will most likely cohere as a global south co-operative, with an innovative self-help agenda, but be reluctant to overturn the current global order from which it desires to benefit more equitably.

    Trade-offs and compromises might be necessary to ensure “unity of purpose”. It’s not clear that this loose alliance is close to being able to achieve that.

    – Brics+ could shape a new world order, but it lacks shared values and a unified identity
    – https://theconversation.com/brics-could-shape-a-new-world-order-but-it-lacks-shared-values-and-a-unified-identity-242308

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Government announces proposition to amend Single-Use Plastics Law to address single-use vapes29 October 2024 The Government of Jersey has today lodged a proposition to propose an amendment to the Single-Use Plastics etc. (Restrictions) (Jersey) Law, originally enacted in 2022, to tackle the environmental impact… Read more

    Source: Channel Islands – Jersey

    29 October 2024

    The Government of Jersey has today lodged a proposition to propose an amendment to the Single-Use Plastics etc. (Restrictions) (Jersey) Law, originally enacted in 2022, to tackle the environmental impact of single-use vapes. 

    This amendment seeks to add single-use vapes to the list of restricted items, a step that aligns with Jersey’s commitment to reducing waste, encouraging reuse, and supporting its Carbon Neutral Strategy. 

    The proposed ban is prompted by the rapid increase in single-use vape popularity, especially among young people. A recent study by Public Health Jersey reveals that 95.65% of local children and young people who use vapes opt for single-use devices.

    These products present a significant environmental concern due to their short lifespan and resource-intensive production, which involves metals, plastics, and lithium batteries. Disposeable single-use vapes are challenging to recycle, and improper disposal poses fire risks and harms the local environment. 

    The proposed amendment to the Single-Use Plastics etc. (Restrictions) Law will: 

    • Extend restrictions to include single-use vapes, previously limited to plastic and paper bags 
    • Apply restrictions on single-use vapes to both individuals and traders, addressing potential online purchases of these products by individuals 
    • Update regulation and enforcement measures to support Authorised Officers. 

    If approved, a six-month transition period will be offered to allow businesses to manage remaining stock, with full enforcement expected by mid-2025. 

    Constable Andy Jehan, Minister for Infrastructure, said: “Single-use vapes are both environmentally unsustainable and pose significant disposal challenges. This legislation will protect our community by reducing waste, encouraging more sustainable habits, and safeguarding our Island’s environmental future.”​

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Ambitious Mobility Strategy to be considered by councillors

    Source: Scotland – City of Perth

    This strategy, developed with feedback from the public, will be discussed when Climate Change and Sustainability Committee meets on 23 October 2024.

    The Mobility Strategy is one of three critical place-based strategies designed to shape the long-term development of Perth and Kinross, alongside the Local Housing Strategy and the Local Development Plan.

    Together, these strategies are instrumental in realising the Council’s vision of “a Perth and Kinross where everyone can live life well, free from poverty and inequality.”

    The Mobility Strategy outlines Perth and Kinross Council’s vision for managing and developing the transport and active travel network over the next 15 years.

    It considers all modes of transport for the movement of people and goods across both rural and urban areas, addressing the impacts of emerging technologies, digital services, housing, inclusion, poverty, health, climate adaptation, economic growth, air quality, and place making.

    Aligned with the priorities set out in the Scottish Government’s National Transport Strategy 2 (February 2020), the Mobility Strategy adopts four key priorities: Reducing Inequalities, Taking Climate Action, Delivering Inclusive Economic Growth, and Improving Health and Wellbeing.

    These priorities are fundamental to the development and delivery of the strategy, ensuring it meets both national targets and local goals.

    Councillors will also be asked to approve the next priorities for the Local Heat and Energy Efficiency Strategy (LHEES) and Local Area Energy Plan (LAEP) for the upcoming 12-18 months.

    The Perth and Kinross LAEP envisions the area as a leading example of affordable and equitable access to sustainable energy for all residents, businesses, and organisations.

    By 2045, the area aims to achieve an integrated, net-zero local energy system. Similarly, the Perth and Kinross LHEES aims to make homes and buildings more energy efficient and equipped with decarbonised heat sources, providing more affordable warmth and reduce climate impact, all contributing to achieving our goal of Net Zero by 2045.

    In line with these initiatives, committee members will be asked to approve the Council’s Public Body Climate Change Duty report. The report outlines the Council’s actions and progress in addressing climate change within its own operations, with a 31% reduction in its overall emissions. The decrease is primarily attributed to improvements in waste processing and the transition from waste to energy. Additionally, there were modest reductions in emissions from on-site energy production, business travel and employee commuting.

    Councillor Richard Watters, Convenor of Climate Change and Sustainability Committee said: “We are deeply grateful to the public for their active involvement and valuable feedback throughout the development of the Mobility Strategy. Their participation has been crucial in shaping a strategy that is robust, relevant, and adaptable to the diverse needs of our community.

    “We also want to recognise the outstanding work made through the Local Heat and Energy Efficiency Strategy (LHEES), the Local Area Energy Plan (LAEP) and the Council’s own initiatives in tackling climate change.  It is truly encouraging to see the Council’s substantial reduction in overall emissions, equivalent to 12.5 kilotonnes of C02, between 2022/23 and 2023/24.

    “Despite facing financial challenges, we are striving forward with new priorities for the next 12 to 18 months. Together, we are paving the way for a sustainable and prosperous future for Perth and Kinross.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: National Press Club

    Source: US Department of Veterans Affairs

    Good morning. Emily Wilkins, thanks for that kind introduction, and for leading this important organization. Let me recognize the Press Club’s American Legion Post and its commander, Tom Young, and all the Veterans Service Organizations represented here. Veterans Service Organizations are critical to helping us serve Vets, their family members, caregivers, and survivors.

    I want to thank all the journalists who served our country in uniform. Journalists like Thomas Gibbons-Neff, a Marine combat Vet and the son of a combat Vet, who writes powerfully now about the ongoing conflict in Ukraine. I’ve been particularly struck by his writing on the end of America’s deployments to and withdrawal from Afghanistan.

    While I want to be careful here as a non-Veteran myself, it struck me that his writing brought to life the painful experiences that thousands of his fellow Afghanistan Vets wrestle with to this day. Navy Veteran Zack Baddorf, founder of the group Military Veterans in Journalism, is helping ensure more Vets go into journalism, a vocation that is so important to our democracy that Vets have sacrificed everything to protect it.

    Zach’s getting more Vets into newsrooms around the country—improving coverage of Veterans issues and increasing trust in the media. To Thomas and Zack, to all Veteran journalists, and to all journalists—thank you.

    Veterans Day is around the corner, so now’s a good time to begin preparing our hearts and minds for that celebration—remembering, recognizing, and thanking all those men and women who have fought our nation’s wars and defended us during periods of restless peace. But our profound gratitude to Veterans goes beyond Veterans Day, because Vets continue serving this country long after they take off their uniforms.

    They’ve dedicated themselves to building an America that is stronger, freer, fairer for each new generation, that more perfect Union we all seek. Anchored by their commitment to service over self, they continue serving this country, always looking out for one another, with their enduring sense of duty, valor, and love of country. Veterans set the highest example of what it means to be an American citizen. So, at VA, we strive to serve Vets every bit as well as they served—and continue to serve—all of us. Veterans Day is a time to renew that commitment, renew what President Biden calls our country’s one truly sacred obligation—to prepare those we send into harm’s way, and to care for them and their families when they come home.

    Now, when I first spoke to the Press Club four years ago, the country was in a historic public health emergency, and VA’s employees were risking their lives to save the lives of Veterans. Despite those challenges, I told you that VA public servants were breaking all-time records, providing more care and more benefits to more Vets than ever before. And each year, I’ve come back here with a similar report. This year is no different. By nearly every metric, VA’s smashing records we set last year. That’s even more care, more benefits, to more Vets. And it’s not just more care. It’s better, world-class care, and it’s better health outcomes for Veterans than in the private sector. It’s not just more benefits, it’s faster, more accessible benefits we’re delivering by meeting Vets where they are rather than expecting them to come to us. And it’s not just more Vets, its more Vets trusting VA at rates higher than ever before. President Biden, a military family member and the surviving father of combat Veteran Major Beau Biden, has been unrelenting—and forcefully demanding—in his advocacy for Veterans and their families. He has spent his entire career fighting like hell for Vets, just as he charged me and my VA teammates to do four years ago. Under President Biden’s leadership, VA has been made into something different—something new.

    Nowhere has that been more evident than with President Biden’s toxic exposure law—the PACT Act. Because of that law, more than 5.8 million Vets have been screened for toxic exposures. More than 740,000 have enrolled in VA care. And more than 1.1 million Veterans and 11,000 survivors are receiving benefits. The toxic exposure legislation called for a phased-in approach, getting Vets access to care and benefits as late, in some cases, as 2032. But President Biden made it clear that timeline wasn’t fast enough for one simple reason—for too long, too many Vets were exposed to harmful substances and waited decades for help. So, he directed us to accelerate implementation so all eligible Vets and their survivors got the care and benefits they deserve—as quickly as possible.  

    And that has been life-changing for so many families.

    We can measure President Biden’s record-breaking work on behalf of Veterans—on ending Veteran homelessness, on removing barriers to mental health care, on getting Vets in crisis the support they need when they need it, and more. In fact, you probably saw the press release we put out this morning detailing all of VA’s record-breaking accomplishments over the course of the past year. But we can never put a value on the countless miracles that have improved and made Veterans lives better. Numbers and statistics can’t adequately describe the impact. Dollars and data can’t ever really begin to capture and communicate the values, the personalities, the humanity of the Veterans we have the honor of serving. So, as I prepared for today’s speech, I thought, maybe those are the very things we need to talk about. Let me tell you three stories that demonstrate the impact and importance of the work we do, together.

    I’ll start with Angela Bell. I met Angela in Hampton, Virginia last month. Angela is one of the most generous and courageous people I’ve ever met. She lost her son, Sean, and has turned her grief into action. Let me tell you a little bit about Sean. Sean knew he wanted to join the military since he was a kid. He was so determined to enlist after graduating high school that at 17 years old he got his dad to sign the parental consent paperwork. And Sean served all over America—Georgia, North Carolina, California—served all over the world, Korea, Afghanistan, Iraq. He married and had a son, Giovanni.

    He earned his Bachelor’s degree. He earned a Master’s. He earned a second Master’s and was working on his Ph.D.—he liked to tease his mom, telling her she’d have to start calling him Dr. Bell. Sean was the kind of guy who’d invite other Soldiers over to Angela’s house for Thanksgiving because they had nowhere else to go. He’d ask his mom to send him extra care packages while he was on deployment, not for himself, but to share with his brothers- and sisters-in-arms who didn’t get anything from back home. He’s an example of the selfless Vet I was talking about a few minutes ago.

    Well, after Sean came back from his second deployment to Central Command, Angela started noticing some changes. Every time firecrackers went off, he’d jump. Being in traffic was overwhelming, anxious about other vehicles around him. He was enduring some personal problems, family health issues and more. When Angela tried to get Sean help, he refused, worried about losing his clearance. Sean had served in the Army for 20 years. And just a few weeks before his retirement in 2021, he died by suicide.

    Now, I’ve spoken at many events focused on VA’s and our partners’ work to end Veteran suicide. I’ve explained that ending Veteran suicide is our number one clinical priority at VA. I’ve talked about resourcing and about people and organizations singularly devoted to end Veteran suicide. I’ve talked about data and processes and what we’re doing to try to make a real, substantial difference—promising initiatives. And I’ve shared story after story about Veterans not just surviving, but getting the mental health care they need and thriving. Yet, none of that will bring Sean back or heal his family’s heartbreak. None of that gets to the enormous tragedy of Veteran suicide or gets to the powerful, painful emotions.

    So, here’s why I’m telling Sean’s story, Angela’s story. Angela’s doing everything she can do so other families don’t suffer the same devastation when she lost Sean, when this country lost Sean. “I try to be the face of [those] who [were] left behind,” Angela says. “I’m so passionate about telling his story because if it helps one person, whether I know it or not, then I’m doing what I’m supposed to do.” She said, “People tell me I’m so strong. I’m not. I’m a mom, advocating and fighting for my kid.” Angela’s the President of the Hampton Roads Chapter of American Gold Star Mothers, and she often speaks on our work to end Veteran suicide. Thanksgiving was Sean and Angela’s favorite holiday.  And in his memory, Angela hosts an annual Thanksgiving meal and invites servicemembers, Veterans, and their families to join her. The gathering quickly outgrew her dinner table, and then got too big for her home. This year, Angela’s renting a dining hall to host dozens of families from the military community to share a warm Thanksgiving meal together. The community she’s built has helped Angela heal. And she heals by helping others, so they’re not alone, and so they know there is always, always hope. Those are the kind of people we have the incredible privilege and honor to serve at VA.

    But we have so much work to do to keep our promise to Vets. That leads me to my next story. It was almost exactly 23 years ago—October 5th, 2001—when the first US forces arrived at the Karshi-Khanabad air base in Uzbekistan, a former Soviet base known as “K2.” K2 Veterans were among the first to deploy after the September 11th terrorist attacks, bravely conducting and supporting combat missions against al-Qaeda and the Taliban in Afghanistan. They went to a place at K2 that Veterans often describe as a “toxic soup” of exposures, a place unlike other operating bases occupied by American forces. A place that jeopardized their immediate and long-term health. Colonel Gordon Peters vividly describes what he says was a “chemical odor so intense that it seemed as if someone could light a match and the entire area would ignite.” Some K2 Vets returned home and developed disabling illnesses and conditions. Their service is heroic.

    Mindful of the passage of time since their heroic service, we’ve moved aggressively to care for K2 Vets since the PACT Act was passed in 2022.

    • First, we eliminated the PACT Act phase-in period for presumptive benefits—making all K2 Vets immediately eligible for more than 300 presumptive conditions.
    • Second, earlier this year, we made all K2 Veterans eligible for VA health care, whether or not they’ve filed a benefits claim with VA.
    • Third, after consulting with K2 Vets this summer, we’ve begun rulemaking to make chronic multi-symptom illness—also known as Gulf War Illness—a presumptive condition for K2 Veterans, fixing a gap in the PACT Act.
    • Fourth, for every K2 claim, we’ve made sure the unique toxic exposures at K2—that toxic soup—is taken into account, and each new K2 claim gets reviewed a second time before VA reaches a final decision.
    • And fifth, we’ve reached out to every known living K2 Veteran to encourage them to come to us for the care and benefits they deserve.

    All of that work has been driven by Veteran and survivor advocates, reporters like you, and a tireless VA team working on toxic exposures, some of the best toxic exposure researchers, scientists, and epidemiologists in the world. Because of that hard work,

    13,000 of the 16,000 K2 Vets are enrolled in VA healthcare, nearly 12,000 are service-connected for at least one condition, receiving an average of $30,000 a year in earned benefits. All told, K2 Vets now have higher claim and approval rates than any other cohort of Veterans.

    But we have more work to do to get this right. Some K2 Vets still understandably feel overlooked, because they’ve waited for 23 long years to see their uniquely dangerous service recognized. We still have to do better and be better, for those K2 Vets. That’s why, today, I’m proud to announce that VA will begin rulemaking to add bladder, ureter, and other genitourinary—or GU cancers—as new presumptive conditions for K2 Vets and all eligible toxic-exposed Vets. And we aren’t stopping there.

    Next week, we will complete the scientific review of multiple myeloma and leukemias. The preliminary findings are promising and suggest that VA will be able to make those conditions presumptive for K2 Veterans and all eligible Veterans. And once the final results are in, VA will look to extend that presumption to all biologically linked blood cancers. This may include polycethemia vera—or P. Vera—a condition identified by K2 Vets. We will do so based on biological science and on the results of a PACT Act presumptive process, without requiring Vets to wait for VA to complete additional studies. And moving forward, I am committed to establishing service connection for any rare condition found in K2 Vets which has a plausible biological link to the toxic soup we know and acknowledge was present at K2.

    Because we are a new VA. One that works with Veterans for Veterans. And one that delivers outcomes for Veterans. We will no longer take decades to consider new presumptive conditions, but will instead use the tools provided by the PACT Act as quickly as possible to proactively establish service connections whenever the evidence supports it. We put that promise into action in 2021 when the President directed us to work on a Central Command burn pit presumption, nearly two years before passage of the PACT Act. We put it into action in 2022 when we established service connection for asthma, sinusitis, rhinitis, and rare respiratory cancers—again today with GU cancers and soon for multiple myeloma and blood cancers. We’ll continue proving that we’re a new VA by using the expedited PACT Act process to look further into that toxic soup at K2. The President considers this unfinished business—and expects VA to establish a presumption of service connection for every condition associated with deployment to K2 – and we’re committed to doing so.

    We have to keep listening to K2 Vets and all Vets. We have to keep fighting like hell for them. So, thank you to the Vets, advocates, and journalists who have been instrumental in highlighting the heroes who served at K2. You make us better by holding us accountable. We are proud of our accomplishments, these outcomes for Veterans. But we are candid when we come up short—candid with ourselves, with you, with Vets, with Congress, and with the American people. America’s Vets deserve our very best, and we’ll never settle for anything less. Hold us to it.

    Third and finally—let me talk about VA’s people—your public servants—who are keeping our country’s sacred obligation to Vets. They are the best, most compassionate, highest-performing, and most dedicated workforce in the federal government—in the entire country—folks who want to make real differences in the lives of Veterans. I’m proud and I’m privileged to be on their team.

    I’m reminded of that every single day, but it was driven home most profoundly when I was surveying Hurricane Helene’s destruction in Asheville, North Carolina. For over a month now, the Asheville VA, the VISN 6 leadership team, and their incident command team have been working around the clock, tirelessly, to support Vets and staff impacted by the storm. Asheville VA’s food service employees and the Veterans Canteen Service disaster response team loaded up two tons of food and served 17,000 meals in the first week of recovery efforts, a source of great comfort in the aftermath of the crisis.

    Their Volunteer Services have collected thousands of donations from fellow VA employees. And our chaplains have been holding candlelight vigils, a space for Veterans and VA staff to be together … supporting and comforting one another during this tragedy.

    In the hardest hit areas across Western North Carolina, we identified over 2,600 at-risk Vets, Vets undergoing chemotherapy, with spinal cord injuries, requiring oxygen, and other support. We couldn’t call many of them because phones were out—cell phones and landlines—so right after the hurricane, VA teams went out to check on unaccounted Vets in-person. They achieved 100% accountability for all at-risk Vets in their care. Given the devastation in those communities, that is an amazing accomplishment. And they continue reaching out to Veterans in the area to make sure they have everything they need.

    For VA nurses Melissa Mehaffey and Lisa Sellers, taking care of Vets in this crisis is their duty and it’s also about holding tight to hope. Lisa and Melissa have been a pair since starting at VA on the same day ten years ago. They’re Haywood County natives and came to work at VA because they have family members who are Vets. “Here,” Melissa says, “it’s all about the Veteran. The heart of our system is with our patients.”

    “When we got a name, we knew—those are our people,” Melissa said. “We’re going to find them, figure out what they need, and help them. We’re going to make sure they are ok.” She says, “Going out there and taking care of our people … this was our tiny piece of hope.” One of the Vets they checked on had been without power, and no one could reach him by phone. He wrote us a letter. “No one but VA,” he said, “No one but VA would do something like that … in that moment there was a human connection that no other healthcare system would have even thought of.”

    Army Veteran and VA employee Corey Anderson feels the same way. Corey was deployed to Kuwait and Iraq from 2005 to 2007, and the devastation he saw in Asheville reminded him of war zones. Corey went to check on one rural Veteran, drove until the road was gone, washed away. So what did Corey do? He parked his car in the middle of the road and hiked the rest of the way. He climbed up the mountainside with a pack full of supplies for the Veterans’ upcoming medical procedure. Corey says, “Doing this work means the world to me. I’m a Veteran. My dad, mom, sister, and so much of my family is made up of Veterans. It just means the world to me to do my part.” Veterans helping Veterans, there is nothing better. VA’s employees across the Southeast and Appalachia—people like Melissa, like Lisa and Corey—worked long hours through two devastating hurricanes, some working multiple shifts or staying overnight at the hospital. They risked their own lives to serve Veterans. Because whether we’re in times of calm or chaos, VA’s public servants always mobilize around one core mission—saving and improving Veterans’ lives. And right now there are Veterans at home, with their families—happy, safe, and healthy—because of them. I am incredibly grateful to each and every one of them.

    Now, our mission at VA is far from over. There are huge challenges ahead. And as we look to the future, we’re going to continue to do better for Vets. We’re going to continue to be better for Vets. This future at VA isn’t because of me. In fact, I had asked that this new VA be represented here today at the Press Club by the best face of this new VA: our Deputy Secretary, a combat Veteran, the daughter and granddaughter of combat Veterans, someone who gets her care at VA, and someone who is part of the fastest growing cadre of Veterans at VA: women. The VA is new and more effective because of the Veterans, their families, caregivers, and survivors we are so blessed to serve—and because of Veterans like Tanya Bradsher who serve their fellow Veterans.

    This future is because of the 450,000 VA employees in your communities and neighborhoods across the country who keep Vets at the heart of their care. And it’s because of partners like you, too.

    I’ll close with a final word to the Vets watching today. Your honorable service in uniform sets the example for the rest of the country. You’re the keepers of our national ethos—that deep and abiding sense of purpose you learned in serving, your camaraderie and your care for each other, your sense of teamwork that made you stronger, together—in combat and, now, in your communities. That’s exactly what we need, what this country needs. Your examples are something that all of us can learn from. So, again, to all Veterans—those of you here today and those watching, thank you for everything. And to the Press Club, my thanks for all that you do holding us accountable to Vets, and telling their stories in the powerful ways that you do. God bless you all. And God bless our nation’s servicemembers, our Veterans, their families, caregivers, and survivors. With that, Emily, let’s go to questions.

    MIL OSI USA News –