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  • MIL-OSI New Zealand: Keep your children safe this Halloween

    Source: New Zealand Police (National News)

    To ensure everyone has a spooktacular Halloween, Police are encouraging caregivers to ensure their little pirates, superheroes, witches, and fairies, are well looked after while out trick-or-treating in the community.

    Inspector Brett Callander says Halloween activities can be fun for children to dress up and go trick-or-treating for sweets with friends and family, however it is important to stay safe.

    “Although it is a fun night out, we would like to remind parents and caregivers to ensure the safety of their children.

    “It is also a good reminder that not everyone likes to participate in Halloween, is able take part, or appreciates repeated knocks on the door.”

    Police suggest if residents do not want to take part in Halloween, perhaps placing a sign on your front door or gate might negate young visitors looking for lollies.

    Police recommends the following:

    •             Parents or caregivers should supervise their young children at all times, and not let them go off with people they don’t know.

    •             Trick-or-treating in areas that are well lit and only where the children know the residents.

    •             Always go with an adult, or if you are a teen – stick with your friends and look out for each other.

    •             If you see a sign that says ‘no trick-or-treat here’ or similar then respect their wishes.

    •             Householders do not have to open the door or respond to knocks from Halloween visitors.

    •             Check your trusted community pages to see which homes will be participating in Halloween.

    “As an alternative, parents, caregivers, and children, could attend a local event within their community if there is one nearby.”

    Police would like to ask communities to look out for each other, and if anyone sees any suspicious activity happening, please contact 111 immediately.

    To report activity after it has occurred, please contact Police online at 105.police.govt.nz, clicking “Update Report” or call 105.

    Information can also be provided anonymously via Crime Stoppers on 0800 555 111.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI USA: Ken Iliff: Engineering 40 Years of Success

    Source: NASA

    Editor’s note: This article was published May 23, 2003, in NASA Armstrong’s X-Press newsletter. NASA’s Dryden Flight Research Center in Edwards, California, was redesignated Armstrong Flight Research Center on March 1, 2014. Ken Iliff was inducted into the National Hall of Fame for Persons with Disabilities in 1987. He died Jan. 4, 2016.

    As an Iowa State University engineering student in the early 1960s, Ken Iliff was hard at work on a glider flight simulation.
    Upon examining the final results – which, in those early days of the computer revolution, were viewed on a long paper printout – he noticed one glaring imperfection: the way he had programmed it, his doomed glider would determinedly accelerate as it headed for the ground.
    The culprit was a single keystroke. At the time, programming was based on data that had been painstakingly entered into the computer by hand, on punch cards and piece by piece. Somewhere, Iliff had entered a plus sign instead of a minus sign.
    The seemingly minor incident was to foreshadow great things to come in Iliff’s career.
    Not long after graduation, the West Union, Iowa, native found himself at what was then called simply the NASA Flight Research Center located on Edwards Air Force Base.
    “I just knew I didn’t want to be sitting somewhere in a big room full of engineers who were all doing the same thing,” Iliff said of choosing Dryden over other jobs and other NASA centers. “It was a small center doing important things, and it was in California. I knew I wanted to be there.”
    Once at Dryden, the issue of data tidbits was central to the new hire’s workday. Iliff’s post called for him and many of his colleagues to spend much of their time “reading up” data – a laborious process of measuring data from film using a single reference line and a ruler. Measurements were made every tenth of a second; for a ten-second maneuver, a total of one hundred “traces” were taken for every quantity being recorded.
    “I watched talented people spending entire days analyzing data,” he recalled. “And then, maybe two people would arrive at two entirely different conclusions” from the same data sets.
    As has happened so often at the birth of revolutionary ideas, then, one day Iliff had a single, simple thought about the time-intensive and maddeningly inexact data analysis process:
    “There just has to be a better way to do this.”
    The remedy he devised was to result in a sea change at Dryden, and would reverberate throughout the world of computer-based scientific research.
    Iliff’s work spanned the decades that encompassed some of Dryden’s greatest achievements, from the X-15 through the XB-70 and the tentative beginnings of the shuttle program. The solution he created to the problem of inaccuracy in data analysis focused on aerodynamic performance – how to formulate questions about an aircraft’s performance once answers about it are already known, how to determine the “why?” when the “what happens?” has already happened.
    The work is known as “parameter estimation,” and is used in aerospace applications to extract precise definitions of aerodynamic, structural and performance parameters from flight data.
    His methodology – cemented in computer coding Iliff developed using Fortran’s lumbering binary forerunner, machine code – allowed researchers to determine precisely the type of information previously derived only as best-estimate guesses through analysis of data collected in wind tunnels and other flight-condition simulators. In addition to aerospace science, parameter estimation is also used today in a wide array of research applications, including those involving submarines, economic models, and biomedicine.
    With characteristic deference, Iliff now brushes off any suggestion of his discovery’s significance. Instead, he credits other factors for his successes, such as a Midwestern work ethic and Iowa State University’s early commitment to giving its engineering students good access to the new and emerging computer technology.
    To hear him tell it, “all good engineers are a little bit lazy. We know how to innovate – how to find an easier way.
    “I’d been trained well, and given the right tools – I was just in the right place at the right time.”
    But however modestly he might choose to see it characterized, it’s fair to number Iliff’s among the longest and most distinguished careers to take root in the ranks of Dryden research engineers. Though his groundbreaking work will live forever in research science, when Iliff retired in December he brought to a close his official role in some of the most important chapters in Dryden history.

    His pioneering work with parameter estimation carried through years of aerodynamic assessment and data analysis involving lifting-body and wing-body aircraft, from the X-15 through the M2-F1, M2-F2 and M2-F3 projects, the HL-10, the X-24B and NASA’s entire fleet of space shuttles. His contributions aided in flight research on the forward-swept-wing X-29 and the F/A-18 High Angle of Attack program, on F-15 spin research vehicles, on thrust vectoring and supermaneuverability.
    Iliff began work on the space shuttle program when it was little more than a speculative “what’s next?” chapter in manned spaceflight, long before it reached officially sanctioned program status. Together with a group spearheaded by the late NASA research pilot and long-time Dryden Chief Engineer Milt Thompson – who Iliff describes unflinchingly as “my hero” – Iliff helped explore the vast range of possibilities for a new orbiting craft that would push NASA to its next frontier after landing on the moon.
    In an environment much more informal than today’s, when there were few designations of “program manager” or “task monitor” or “deputy director” among NASA engineers like Iliff and Thompson, a handful of creative, disciplined minds were at work dreaming up a reusable aircraft that would launch, orbit the Earth and return. Iliff’s role was to offer up the rigor of comparison in size, speed and performance among potential aircraft designs; Thompson and Iliff’s group was responsible, for example, for the decision to abandon the notion of jet engines on the orbiter, decreeing them too heavy, too risky and too inefficient.
    Month in and month out, Iliff and his colleagues painstakingly researched and developed the myriad design details that eventually materialized into the shuttle fleet. There was, in Iliff’s words, “a love affair between the shuttle and the engineers.”
    And in a display typifying the charged environment of creative collaboration that governed the effort – an effort many observe wryly that it would be difficult to replicate at NASA, today or anytime – the body of research was compiled into the now-legendary aero-data book, a living document that records in minute detail every scrap of design and performance data recorded about the shuttles’ flight activity.
    Usually with more than a touch of irony, the compiling of the aero-data book has been described with phrases like “a remarkably democratic process,” involving as it did the need for a hundred independent minds and strong personalities to agree on indisputable facts about heat, air flow, turbulence, drag, stability and a dozen other aerodynamic principles. But Iliff says the success of the mammoth project, last updated in 1996, was ultimately enabled by a shared commitment to a culture that was unique to Dryden, one that made the Center great.
    “Well, big, complicated things don’t always come out like you think they will,” Iliff said.
    “But we understood completely the idea of ‘informed risk.’ We had a thorough understanding of risks before taking them – nobody ever did anything on the shuttle that they thought was dangerous, or likely to fail.
    “The truly great thing (about that era at Dryden) was that they mentored us, and let us take those risks, and helped us get good right away. That was how we were able to do what we did.”
    It was an era that Iliff says he was thrilled to be a part of, and which he admits was difficult to leave. It was also, he adds with a note of uncharacteristic nostalgia, a time that would be hard to reinvent today after the intrusion of so many bureaucratic tentacles into the hot zone that spawned Dryden’s greatest achievements.
    A man not much given to dwelling on the past, however, Iliff has moved on to a retirement he is making the most of. Together with his wife, Mary Shafer, also retired from her career as a Dryden engineer, he plans to dedicate time to cataloging the couple’s extensive travel experiences with new video and graphics software, and adding to the travel library with footage from new trips. Iraq ranks high on the short list.
    During his 40-year tenure, Iliff held the post of senior staff scientist of Dryden’s research division from 1988 to 1994, when he became the Center’s chief scientist. Among numerous awards he received were the prestigious Kelly Johnson Award from the Society of Flight Test Engineers (1989), an award permanently housed in the Smithsonian National Air and Space Museum, and NASA’s highest scientific honor, the NASA Exceptional Scientific Achievement Award (1976).
    He was inducted into the National Hall of Fame for Persons with Disabilities in 1987, and served on many national aeronautic and aerospace committees throughout his career. He is a Fellow in the American Institute of Aeronautics and Astronautics (AIAA) and is the author of more than 100 technical papers and reports. He has given eleven invited lectures for NATO and AGARD (Advisory Group for Aerospace Research and Development), and served on four international panels as an expert in aircraft and spacecraft dynamics. Recently, he retired from his position as an adjunct professor of electrical engineering at the University of California, Los Angeles.
    Iliff holds dual bachelor of science degrees in mathematics and aerospace engineering from Iowa State University; a master of science in mechanical engineering from the University of Southern California; a master of engineering degree in engineering management and a Ph.D. in electrical engineering, both from UCLA.
    Iliff’s is the kind of legacy shared by a select group of American engineers, and to read the papers these days, there’s the suggestion that his is a vanishing breed. NASA and other science-based organizations are often depicted as scrambling for new engineering talent – particularly of the sort personified by Iliff and his pioneering achievements.
    But, typical of the visionary approach he applies to life in general as well as to science, Iliff takes a wider view.
    “I remember, after the X-1 – people figured all the good things had been done,” he said, with a smile in his voice. “And of course, they had not.
    “If I was starting out now, I’d be starting in work with DNA, or biomedicine – improving lives with drug research. There are so many exciting things to be discovered there. They might not be as showy as lighting off a rocket, but they’re there.
    “I’ve seen cycles. We’re at a low spot right now – but military, or space, will eventually be at the center again.”
    And when that day comes, Iliff says he hopes officials in the flight research world will heed the example of Dryden’s early years, and give its engineers every opportunity to succeed unfettered – as he had been.
    “Beware the ‘Chicken Littles’ out there,” he said. “I hope the government will be strong enough to resist them.”

    Sarah MerlinFormer X-Press newsletter assistant editor
    Former Dryden historian Curtis Peebles contributed to this article.

    MIL OSI USA News –

  • MIL-OSI USA: DBEDT NEWS RELEASE: Small Business Regulatory Review Board Elects 2024-2025 Officers

    Source: US State of Hawaii

    DBEDT NEWS RELEASE: Small Business Regulatory Review Board Elects 2024-2025 Officers

    Posted on Oct 29, 2024 in Latest Department News, Newsroom

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

     

    SMALL BUSINESS REGULATORY REVIEW BOARD

     

    JOSH GREEN, M.D.
     GOVERNOR

    JAMES KUNANE TOKIOKA
     DIRECTOR

    DORI PALCOVICH
    SBRRB ADMINISTRATOR

    FOR IMMEDIATE RELEASE

    October 29, 2024

    SMALL BUSINESS REGULATORY REVIEW BOARD ELECTS 2024-2025 OFFICERS

     

    HONOLULU – The Department of Business, Economic Development and Tourism (DBEDT) Small Business Regulatory Review Board (SBRRB) has announced its officers for fiscal year 2024 to 2025.

    Jonathan Shick, chair (O‘ahu) – Mr. Shick works for Pono Consulting Group LLC, has been a member for five years and was previously the SBRRB’s second vice chair.

    Mary Albitz, vice chair (Maui) – Ms. Albitz is the owner of Island Art Party, a paint and sip studio located in Kīhei. She has been a member since 2018, most recently as chair of the SBRRB.

    Sanford Morioka, second vice-chair (O‘ahu) – Mr. Morioka is president of Edward Enterprises, Inc. and has been a member since 2022.

    Other board members are Robert Cundiff (O‘ahu), Mark Ritchie (DBEDT Ex Officio), Garth Yamanaka (Hawai‘i), James (Kimo) Lee (Hawai‘i) and Tessa Gomes (O‘ahu), as well as recent Governor Josh Green, M.D. appointees Nikki Ige (Kauaʻi) and Jennifer Salisbury (Maui).

    “Mahalo to the SBRRB members for their dedication and commitment to improving Hawai‘i’s small business landscape,” said DBEDT Director James Kunane Tokioka. “These collaborative efforts encourage and support the vitality of small businesses in Hawai‘i.”

    “The SBRRB oversees rules and regulations for Hawai‘i small businesses promulgated by both state and county agencies,” said SBRRB Administrator Dori Palcovich. “Navigating government agencies at various levels – federal, state, county and city is very difficult for our small businesses. However, in my 23 years as its administrator, I fully believe that the SBRRB is very committed to improving the regulatory climate in the state for the benefit of small businesses.”

    The SBRRB meets monthly both in-person and by electronic means. We encourage those small businesses that may have specific regulatory concerns with Hawai‘i Administrative Rules to learn more about the monthly meetings at sbrrb.hawaii.gov.

    About Small Business Regulatory Review Board (SBRRB)

     

    The SBRRB was established on July 1, 1998 with the passage of the Small Business Regulatory Flexibility Act. The responsibilities of the SBRRB include:

    1) Commentary on small business impact statements to the rule-drafting agencies.

    2) Identification and commentary on business impact of existing administrative rules.

    3) Recommendations to the Governor’s Office, state agencies or legislature, on any proposed new or amended administrative rules or changes in legislation.

    4) Recommendations to the mayors or county councils regarding county rules; and

    5) Review of small business petitions and complaints on business impact.

    The SBRRB comprises 10 volunteer members who are current or former owners or officers of businesses from across the state, as well as the director of DBEDT or the director’s designated representative, who serves as an “ex officio” member. Three members are appointed by the Senate President, three members by the Speaker of the House, two members by the SBRRB, and two are appointed by the Governor.

    Further, the appointments reflect a representation of a variety of businesses in the state with no more than two members from the same type of business and at least one representative from each county.

    About Department of Business, Economic Development and Tourism (DBEDT)


    DBEDT is Hawai‘i’s resource center for economic and statistical data, business development opportunities, energy and conservation information as well as foreign trade advantages. DBEDT’s mission is to achieve a Hawai‘i economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawai‘i’s citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments and promotes innovation sector job growth.

     

    # # #

     

    Media Contact:

     

    Laci Goshi

    Department of Business, Economic Development and Tourism 

    808-518-5480

    [email protected]

    dbedt.hawaii.gov 

    MIL OSI USA News –

  • MIL-OSI USA: Office of the Governor – News Release –Gov. Green Makes Appointments to Several Boards and Commissions

    Source: US State of Hawaii

    JOSH GREEN, M.D.

    GOVERNOR
    KE KIAʻĀINA

    GOVERNOR GREEN MAKES APPOINTMENTS TO SEVERAL BOARDS AND COMMISSIONS 

    FOR IMMEDIATE RELEASE
    October 29, 2024

    HONOLULU – Governor Josh Green, M.D., is pleased to announce the appointment of V.R. Hinano Rodrigues to the Commission on Water Resource Management. Per the process outlined in state statute, Rodrigues will serve as interim until he is confirmed by the Hawai’i State Senate.

    Rodrigues has more than two decades of dedicated service in cultural preservation and community engagement, and a wealth of knowledge relating to Hawai‘i’s unique environment and cultural heritage. A native of Olowalu on Maui, Rodrigues is well-respected for leading multidisciplinary teams and championing initiatives for the benefit of the state’s natural resources.

    His extensive years as a History and Culture Branch chief at the Department of Land and Natural Resources (DLNR) have equipped him with the insights and skills necessary to navigate the complex challenges facing our water resources today.

    “All three candidates nominated for this role were incredible individuals, each with unique qualifications and deep commitments to serving our communities,” said Governor Green. “Hinano stood out as best suited for the commission due to his extensive experience and understanding of Hawai‘i’s cultural and environmental landscape. This role is essential for ensuring the sustainable management of our most precious resource — water — and requires a leader who can honor the balance between housing needs and cultural preservation. I am confident that Hinano’s knowledge, dedication and passion for safeguarding Hawai‘i’s heritage will serve the people of our islands well in this vital role.”

    In his new role on the commission, Rodrigues will work collaboratively with stakeholders to ensure sustainable management of Hawai‘i’s precious water resources while honoring cultural values. His exceptional communication and conflict resolution skills will be invaluable in fostering partnerships between government agencies, local communities and environmental organizations. This term is expected to end on June 30, 2028.

    Green recently appointed Ciara Kahahane as first deputy of the Commission on Water Resource Management. Kahahane, a Lahaina native and former deputy with the Attorney General’s office, joins Department of Land and Natural Resources First Deputy Director Ryan Kanakaʻole and Chair Dawn Chang in leading DLNR as an all-Native Hawaiian executive team.

    A photo of Hinano Rodrigues can be found here.

    Office of Hawaiian Affairs Salary Commission:
    Governor Green also announced today the appointment of distinguished members to the Office of Hawaiian Affairs Salary Commission. Hawai‘i Revised Statutes (HRS) Section 10-9.5 requires the Governor to appoint an OHA Salary Commission every four years. The commission studies and makes recommendations for the salaries of the members of the board of trustees for the Office of Hawaiian Affairs.

    Appointees: 
    Ian Custino
    Tyler Gomes
    Kawehi Inaba
    Reyn Kaupiko
    Anita Naone
    Dennis Rose
    Venus Rosete-Medeiros

    Hawai‘i Commission on Salaries:
    Governor Josh Green also announced today the appointment of distinguished members to the state Commission on Salaries. As established by law, the commission will review and recommend salaries for justices, judges, legislators, department heads, executive officers and deputies within the executive branch, excluding the University of Hawaiʻi and Department of Education. It will also make recommendations for the salaries of the administrative director of the state or equivalent position, the governor and the lieutenant governor. Salaries set under this provision cannot be reduced during a term unless by general law affecting all state salaried officers of the state.

    Appointees: 
    Beth Amaro
    Susan Arnett
    Pankaj Banjot
    Cathy Betts
    Margery Bronster
    Colleen Hanabusa
    Wesley Machida

    # # #

     
    Media Contacts:   

    Erika Engle
    Press Secretary
    Office of the Governor, State of Hawai‘i
    Phone: 808-586-0120
    Email: [email protected]

    Makana McClellan
    Director of Communications
    Office of the Governor, State of Hawaiʻi
    Cell: 808-265-0083
    Email: [email protected]

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom announces local accountability, transparency rules for new round of homeless funding

    Source: US State of California 2

    Oct 29, 2024

    What you need to know: Governor Newsom today announced 37 new grant awards totaling more than $827 million to help more than 100 local communities and organizations create long-term solutions to address homelessness. The grant agreements include strong accountability and transparency measures and clear expectations to ensure that local strategies to address homelessness are measurable and effective. 

    LOS ANGELES — Expanding California’s unprecedented support for local efforts to create long-term solutions to address homelessness, Governor Newsom today announced that 37 regional grantees — representing 100 local communities and organizations statewide — will receive more than $827 million in new state investments to create new housing, shelter, and support for those experiencing homelessness. The funding comes with strong accountability measures and reporting requirements to ensure funding is used effectively and outcomes can be tracked and measured.

    “We’ve given our local partners the tools and resources they need — it’s time to end this crisis now. These new funds represent the hard work, accountability, and strategic planning needed to address homelessness with real, long-lasting results.”

    Governor Gavin Newsom

    Investing in impactful solutions to address homelessness 

    California has made unprecedented investments to address the housing and homelessness crises, with $40 billion invested to help communities create more housing and $27 billion provided to communities to help prevent and end homelessness. Today’s new grant awards are part of the state’s Homeless Housing, Assistance and Prevention (HHAP) grant program, which provides flexible grant funding to help communities support people experiencing homelessness by creating permanent housing, rental and move-in assistance, case management services, and rental subsidies, among other eligible uses. 

    The Governor announced the awards in Downtown Los Angeles, where he was joined by city and county officials. 

    “The only way we can be successful in solving homelessness is by locking arms and implementing a comprehensive approach that shows results,” said Los Angeles Mayor Karen Bass. “The Homelessness Housing, Assistance and Prevention program is critical to our success here in Los Angeles, and has helped reduce homelessness for the first time in years. I want to thank Governor Newsom and our state elected partners for working together to bring people off of the streets and into housing as urgently as this crisis requires.”

    Greater accountability 

    As a condition of receiving the funding, the awardees must agree to increased accountability, transparency, and compliance measures. These new measures will help enhance the ability for these state investments to drive real, measurable results and will help improve the tracking of data and outcomes. This ensures that grant recipients remain accountable and protects state funding.

    Regional approach

    Grantees were required to work regionally on these applications. Cities, counties, and Continuums of Care were required to explicitly commit to coordinating with one another, clearly stating who was responsible for which parts of their joint regional homeless efforts, as a condition of receiving funding. This will drive coordination and make sure homelessness is solved regionally — not treated as a problem that stops at the city limits. 

    Greater transparency

    Grantees will report monthly fiscal progress that will be available live on the California Housing and Community Development’s (HCD) website through the HHAP fiscal dashboard. Grantees will also upload HHAP program outcomes to the California Homeless Data Integration System on a quarterly basis.

    More support 

    This round of HHAP funding embraces an inclusive process — helping California regions to assess and build on their existing capacity to address their unique homelessness challenges, transition homeless individuals and families into affordable permanent housing, and support those individuals and families in maintaining stable permanent housing. The funding requires grantees to commit to addressing racial inequities in homelessness, prioritize permanent housing rather than temporary shelters, and include people with lived experience of homelessness in program design.

    “The HHAP Round 5 grants demonstrate how the state can support and amplify regional strategies and coordination to help our most vulnerable residents move into safe and stable housing,” said Business, Consumer Services and Housing Secretary Tomiquia Moss. “The accountability in this round of funding ensures we are empowering local partners to design local solutions to prevent and end homelessness, and produce measurable results. By working together to address the unique needs in their communities we get that much closer to reducing unsheltered homelessness across the State.”

    HHAP funds build on ongoing state investments and are intended to be paired strategically with other state, local, and federal funds, including other HCD programs like Homekey+. 

    Care, compassion, collaboration 

    Today’s announcement follows the Governor’s executive order urging local governments to adopt policies and plans consistent with the California Department of Transportation’s (Caltrans) existing encampment policy.

    Prioritizing encampments that pose a threat to the life, health, and safety of the community, Caltrans provides advance notice of clearance and works with local service providers to support those experiencing homelessness at the encampment, and stores personal property collected at the site for at least 60 days.  Earlier this month, Governor Newsom also provided local communities with $131 million, as part of the state’s $1 billion of Encampment Resolution Funds to address homelessness, to help local governments address homeless encampments and provide shelter, care, and support.

    As required by the Governor’s executive order, the California Interagency Council on Homelessness today is releasing new guidance to assist local communities in addressing encampments. The guidance provides local communities with best practices for resolving encampments and connecting individuals in encampments with services and housing.

    California is also transforming behavioral health care by improving access, accountability, transparency, and capacity. This includes through the Community Assistance, Recovery, and Empowerment (CARE) Court, a first-in-the-nation approach to create accountability for connecting individuals with untreated psychosis to the treatment and housing they need. It also includes Proposition 1, which is expanding the behavioral health continuum using existing dollars and providing care to individuals experiencing mental health conditions and substance use disorders — with a particular focus on people who are the most seriously ill, vulnerable, and at risk of homelessness or homeless. 

    HHAP Funding provided by region

    Local communities and organizations are required to coordinate and apply together through Regionally Coordinated Homelessness Action Plans. The 37 California regions awarded HHAP funds today have approved plans that demonstrated a commitment to the priorities of creating permanent housing solutions and sustaining existing interim housing. 

    For a list of regions receiving the award, view here.

    Recent news

    Oct 28, 2024

    News SACRAMENTO – Governor Gavin Newsom and First Partner Jennifer Siebel Newsom issued the following statement regarding the death of Barstow Fire Protection District Fire Captain Garret Miller: “Our heartfelt sympathies are with Fire Captain Miller’s family,…

    Oct 28, 2024

    News What you need to know: The Tijuana River sewage crisis has been impacting communities for far too long, and Governor Newsom has pushed federal and international partners to fund repairs and complete infrastructure improvements to finally address this crisis. …

    Oct 28, 2024

    News What you need to know: In late 2023, California distributed over $267 million to local law enforcement agencies and prosecutors across the state to combat organized retail and property crime. In the first nine months, local law enforcement agencies that received…

    MIL OSI USA News –

  • MIL-OSI USA: Seven California ports get more than $1 billion to shift to zero-emission operations, cut pollution

    Source: US State of California 2

    Oct 29, 2024

    What you need to know: The Biden-Harris Administration is granting more than $1 billion to California’s ports to accelerate their transition to zero-emission operations and create good paying jobs.

    SACRAMENTO – California ports are about to become cleaner and more climate friendly thanks to new funding from the Biden-Harris Administration. 

    Today, the U.S. Environmental Protection Agency announced seven California ports are receiving more than $1 billion to build zero-emission infrastructure and implement plans to clean up air quality. California ports received a third of the total funding announced today nationwide. The Port of Los Angeles is receiving the nation’s largest clean ports grant of $411 million, which will help the port shift to zero-emission operations. 

    Thanks to historic support from the Biden-Harris Administration and our state’s Congressional leaders, California’s ports are undergoing a rapid transition to become zero-emission. Cleaner ports means cleaner air for communities up and down our state – this is a huge win for our ports that are the backbone of the fifth largest economy in the world.

    Governor Gavin Newsom

    California’s ports handle about 40% of the nation’s containerized imports and 30% of America’s exports. This funding is key to Governor Newsom’s build more, faster infrastructure agenda. See projects in your community at build.ca.gov.  

    California ports receiving funding from the federal Clean Ports Program include:

    • Port of Los Angeles — $411.69 million: This project aims to accelerate the port’s transition toward ZE on-terminal operations by significantly reducing air pollution in and around the port, deploying ZE cargo handling equipment (CHE), and enhancing electric vehicle charging infrastructure. 
    • Port of Oakland — $322.17 million: This project will support the vision of reducing emissions and fully decarbonizing port acti­­vities by transitioning to ZE alternatives for drayage trucks and cargo handling equipment.  
    • Port of Stockton — $110.47 million: This project will transform the port into the first small port with ZE terminal operations and increase the ZE workforce in Northern California. 
    • Port of San Diego — $58.6 million: This project will support the port’s longstanding commitment to the electrification of San Diego’s maritime cargo handling facilities and freight transportation by implementing the final electrification elements to transform San Diego’s maritime cargo terminals and the goods movement network on San Diego Bay. 
    • Port of San Francisco — $55.39 million: This investment will transition ferry operations along the San Francisco waterfront to zero-emissions, removing 455,000 metric tons of carbon dioxide greenhouse gases and enhancing air quality at the Port of San Francisco and throughout the Bay Area airshed. 
    • Port of Hueneme — $42.29 million: The Port of Hueneme Reducing Emissions, Supporting Health (PHRESH) project consists of two components: PHRESH START (Sustainable, Thoughtful And Resilient Transformation), which includes planning activities, and PHRESH AIR (Accelerating Implementation and Results), which involves the deployment of roughly 35 pieces of ZE terminal equipment and a drayage truck incentive program.
    • Port of Redwood City — $1.97 million: This project, in partnership with a private entity, includes climate and air quality planning for hydrogen-based fueling and infrastructure.

    Recent news

    Oct 29, 2024

    News What you need to know: Governor Newsom today announced 37 new grant awards totaling more than $827 million to help more than 100 local communities and organizations create long-term solutions to address homelessness. The grant agreements include strong…

    Oct 28, 2024

    News SACRAMENTO – Governor Gavin Newsom and First Partner Jennifer Siebel Newsom issued the following statement regarding the death of Barstow Fire Protection District Fire Captain Garret Miller: “Our heartfelt sympathies are with Fire Captain Miller’s family,…

    Oct 28, 2024

    News What you need to know: The Tijuana River sewage crisis has been impacting communities for far too long, and Governor Newsom has pushed federal and international partners to fund repairs and complete infrastructure improvements to finally address this crisis. …

    MIL OSI USA News –

  • MIL-OSI USA: Federal Court Permanently Shuts Down Indiana Tax Preparer and Company

    Source: US State of North Dakota

    The U.S. District Court for the Southern District of Indiana permanently enjoined an Indianapolis-area tax return preparer and his company yesterday from preparing federal tax returns for others and from owning or operating any tax return preparation businesses in the future.

    According to the civil complaint filed in the case, Juan Santiago resides in Lakeland, Florida, but travels to Indianapolis for tax preparation season to operate his tax preparation business, Madison Solutions LLC. Santiago failed to respond to the civil complaint filed against him, so the court entered the permanent injunction against him by default.

    The civil complaint alleges that Santiago and Madison Solutions used a variety of schemes to improperly reduce their customers’ tax liabilities or to obtain tax refunds to which the customers were not entitled. The complaint alleges that Santiago repeatedly placed false or incorrect items, deductions, exemptions or statuses on customers’ tax returns without their knowledge. For example, the complaint alleges that Santiago routinely elected head of household filing status and child tax credits for customers when they were otherwise not qualified for such status or credits. The complaint also alleges that Santiago reported fictitious businesses on customers’ returns and fabricated business expenses and income to fraudulently reduce taxable income.

    Deputy Assistant Attorney General David A. Hubbert of the Justice Department’s Tax Division made the announcement.

    Taxpayers seeking a return preparer should remain vigilant against unscrupulous tax preparers. The IRS has information on its website for choosing a tax return preparer and has launched a free directory of federal tax preparers. The IRS also offers 10 tips to avoid tax season fraud and ways to safeguard their personal information.

    In the past decade, the Justice Department’s Tax Division has obtained injunctions against hundreds of unscrupulous tax preparers. Information about these cases is available on the Justice Department’s website. An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found on this page. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division with details.

    MIL OSI USA News –

  • MIL-OSI Security: Former Employee Pleads Guilty to Embezzling More Than $135,000 from Dupo School District

    Source: Office of United States Attorneys

    EAST ST. LOUIS, Ill. – A Waterloo woman admitted guilt to a federal charge Monday for embezzling more than $135,000 as a former employee of Dupo Community Unit School District #196.

    Linda J. Johnson, 58, pleaded guilty in federal court to one count of theft from a federally funded program.

    According to court documents, Johnson committed the embezzlement while employed in an administrative support role in the superintendent’s office between 2020 and 2022. In this role, Johnson was responsible for depositing cash and checks into the district’s activities account intended to support student athletics, clubs, and extracurriculars.

    To conceal her crime, she would prepare bank deposit slips reflecting the correct amount of cash and checks received, but later she prepared a second set of fraudulent deposit slips that only accounted for the checks, while she kept the cash.

    “Stealing funds from student activities directly deprives children of opportunities within their extracurriculars,” said U.S. Attorney Rachelle Aud Crowe. “Although the defendant tried to conceal her crime from school officials by preparing two sets of records, her deceit was discovered, and she will be held accountable.”

    The loss to the school district is $135,566.80.

    “The FBI works to protect the well-being of our children on many levels, and investigating the embezzlement of school funds is no different,” said FBI Springfield Field Office Special Agent in Charge Christopher Johnson. “FBI Springfield would like to thank the Dupo Police Department for their vital role in this investigation.”

    Theft from a federally funded program convictions are punishable by up to 10 years’ imprisonment and fines up to $250,000. Johnson’s sentencing is scheduled for 10:30 a.m. on Feb. 27, 2025, at the federal courthouse in East St. Louis.

    Officials with the Dupo School District said the plea agreement reached Monday represents accountability for a serious breach of public trust that impacted their students, staff, and the entire Dupo School District community. They said they are grateful to the U.S. Attorney’s Office for their diligent work in securing justice for our students and taxpayers.

    The Dupo Police Department and the FBI Springfield Field Office are directing the investigation, and Assistant U.S. Attorney Steve Weinhoeft is prosecuting the case. 

    MIL Security OSI –

  • MIL-OSI Security: Pembroke Township Man Sentenced to 6 ½ Years in Prison for Filing False Tax Returns

    Source: Office of United States Attorneys

    URBANA, Ill. – Larry Dean Gibbs, 63, of Pembroke Township in Kankakee County, Illinois, was sentenced on October 28, 2024, to 6 ½ years of imprisonment for filing false tax returns.

    Gibbs was convicted of filing three false federal tax returns following a jury trial held at the U.S. Courthouse in Urbana in March of this year. During the trial, the government presented evidence to establish that, in January 2017, Gibbs filed three federal income tax returns for the tax years 2012, 2013, and 2014, each falsely claiming that he had earned $10 million in annual income from the “Larry Dean Gibbs Estate.” Gibbs further falsely claimed that the IRS withheld over $3 million per year from his earnings each year and that he was entitled to refunds totaling over $6.8 million. In contemporaneous filings, Gibbs claimed that he had changed his name to Mulumbua Humraukn El Taikem Bey and that he was the Ambassador for the Al Moroccan Empire National Republic, which is not officially recognized by the U.S. State Department. At the time Gibbs filed the three false tax returns, he had just been released from federal prison for a prior conviction for filing a false federal tax return in 2005, when he had obtained a $66,282 refund to which he was not entitled.

    At the sentencing hearing, U.S. District Judge Colin S. Bruce found that Gibbs had obstructed justice during the trial by falsely claiming that he was a member of the Maipuri Arauan Nation and that a treaty between that tribe and the United States required tribal members to be seated on his jury. Judge Bruce found that Gibbs “continues to file nonsensical sovereign citizen documents with the court, despite the court’s clear warnings against such frivolous, docket-clogging activity.”

    The statutory penalties for filing a false tax return are up to three years of imprisonment and up to a $100,000 fine on each of the three counts of conviction. In addition to imprisonment, Judge Bruce sentenced Gibbs to serve one year of supervised release following his release from the federal Bureau of Prisons.

    Judge Bruce directed Gibbs to report to the Bureau of Prisons to begin serving his sentence of imprisonment on January 7, 2025. In the meantime, Gibbs remains released on conditions of bond, which include home detention.

    “Fraud upon the government ultimately harms honest taxpayers,” said U.S. Attorney Gregory K. Harris. “Our office will vigorously prosecute these important cases, including those involving repeat offenders such as the defendant. We are grateful to our federal law enforcement partners for their dedicated work on this case.”

    “Tax fraud undermines the trust between taxpayers and their government,” said Ramsey E. Covington, Acting Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. “By filing false tax returns, Larry Gibbs not only cheated the system but also imposed an unjust burden on honest taxpayers. His frivolous court filings further clogged our legal system, wasting valuable resources that could be better used to serve the community. IRS Criminal Investigation and its fellow law enforcement partners remain committed to holding accountable those who seek to exploit our tax laws for personal gain.”

    “The FBI is proud to work with its law enforcement and prosecutorial partners to ensure that taxpayer dollars aren’t used to line the pockets of repeat offenders,” said Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI. “Our tax system is predicated on the principal that every American pays their fair share, and this sentencing reflects the government’s commitment to ensuring equity for hardworking Americans.”

    The IRS Criminal Investigation, Chicago Field Office, and FBI, Chicago Field Office, investigated the case. Supervisory Assistant United States Attorney Eugene L. Miller represented the government in the prosecution.

    MIL Security OSI –

  • MIL-OSI Security: Crystal Springs Man Sentenced to over 9 Years in Prison for Brandishing a Firearm During a Carjacking in Jackson

    Source: Office of United States Attorneys

    Jackson, Miss. – A Crystal Springs man was sentenced today to 110 months in prison for brandishing a firearm while carjacking a woman in front of her home in Jackson.

    According to court documents, Christopher Lawrence Murray, 31, brandished a pistol during a carjacking in the Jackson area. In May of 2021, Murray and another man approached a woman sitting in her car in front of her home.  Working in tandem, both men pointed pistols at the woman and demanded she hand over her cellular phone and the keys to her car. The woman, at gunpoint, complied with the demands and the men left in the woman’s car.

    Murray was indicted by a federal grand jury on September 6, 2023, and he pled guilty on July 31, 2024, to brandishing a firearm in relation to a crime of violence.   

    U.S. Attorney Todd W. Gee of the Southern District of Mississippi and Special Agent in Charge Joshua Jackson of the Bureau of Alcohol, Tobacco, Firearms and Explosives made the announcement.

    The Jackson Police Department and the Bureau of Alcohol, Tobacco, Firearms and Explosives investigated the case.

    Assistant U.S. Attorney Bert Carraway prosecuted the case.

    In an effort to focus resources on carjacking in Jackson, the U.S. Attorney’s Office, the FBI, the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Jackson Police Department and the Capitol Police Department formed a carjacking task force in April of 2024.  In keeping with the Justice Department’s Comprehensive Strategy for Reducing Violent Crime, the task force represents a strategic enforcement priority for the department, focusing federal resources on identifying, investigating, and prosecuting the most significant drivers of violent crime. 

    MIL Security OSI –

  • MIL-OSI Security: Leader And Three Members of Poly-Drug Trafficking Organization Are Sentenced To Prison

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    CHARLOTTE, N.C. – The leader and three members of a drug trafficking organization (DTO) were handed down sentences ranging from 70 months to 27 years in prison today for the bulk distribution of methamphetamine, fentanyl, and other narcotics, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.

    Robert M. DeWitt, Special Agent in Charge of the Federal Bureau of Investigation (FBI) in North Carolina, Bennie Mims, Special Agent in Charge of the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), Charlotte Field Division, and Chief Johnny Jennings of the Charlotte Mecklenburg Police Department (CMPD), join U.S. Attorney King in making today’s announcement.

    Led by the FBI, ATF, and CMPD, this Organized Crime Drug Enforcement Task Force (OCDETF) operation successfully dismantled a poly-drug network that trafficked large quantities of methamphetamine, fentanyl, heroin, and cocaine in Mecklenburg County.

    The investigation identified nine members of the DTO who were prosecuted federally in connection with this case. The four sentenced today are:

    George Irving Rivens, 38, of Charlotte, and leader of the DTO, was sentenced to 27 years in prison followed by five years of supervised release. He pleaded guilty to conspiracy to distribute and to possess with intent to distribute cocaine, methamphetamine, heroin, and fentanyl.

    Paul Alexander Kaber, 29, of Charlotte, was sentenced to 172 months in prison followed by five years of supervised release. He pleaded guilty to conspiracy to distribute and to possess with intent to distribute cocaine, methamphetamine, and heroin.

    Christopher Ahmad Townsend, 32, of Charlotte, was sentenced to 130 months in prison followed by five years of supervised release. He pleaded guilty to conspiracy to distribute and to possess with intent to distribute cocaine, methamphetamine, and fentanyl.

    Joseph Earl Connor, 34, of Charlotte, was sentenced to 70 months in prison followed by five years of supervised release. He pleaded guilty to distribution of fentanyl.

    The five DTO members previously sentenced and the charges they pleaded guilty to are as follows: 

    Daneon Hansen, 47, of Charlotte, was sentenced to 10 years in prison followed by five years of supervised release. He pleaded guilty to possession with intent to distribute methamphetamine and heroin.

    Deion Rashaad Thompson, 30, of Charlotte, was sentenced to 10 years in prison followed by five years of supervised release. He pleaded guilty to conspiracy to distribute and to possess with intent to distribute cocaine, methamphetamine, heroin, and fentanyl; distribution of methamphetamine; and two counts of distribution of fentanyl.

    Joseph Stewart, 36, of Charlotte, was sentenced to 15 months in prison followed by three years of supervised release. He pleaded guilty to distribution of fentanyl.

    Naliyah Tekayla Herd, 26, of Charlotte, was sentenced to a year and a day in prison followed by three years of supervised release. She pleaded guilty to conspiracy to distribute and to possess with intent to distribute cocaine, methamphetamine, heroin, and fentanyl.

    Alexis Taylor, 27, of Mount Holly, N.C., was sentenced to four months in prison followed by three years of supervised release. She pleaded guilty to conspiracy to distribute and to possess with intent to distribute cocaine, methamphetamine, heroin, and fentanyl.

    According to court documents and court proceedings, from at least January 1, 2021, to June 3, 2022, Rivens supplied the members of the DTO with methamphetamine, fentanyl, heroin, and cocaine for local distribution in Charlotte. During the investigation, law enforcement identified a residence in Charlotte the DTO was using as a wholesale stash house to store and traffic drugs. On June 3, 2022, investigators executed a search warrant at the stash house, seizing 16.5 kilograms of methamphetamine, more than 5.7 kilograms of fentanyl, over 2.6 kilograms of cocaine, over a kilogram of heroin, 37 kilograms of marijuana, and more than half a kilogram of cocaine base. In addition, 10 firearms and nearly $30,000 in cash drug proceeds were seized. Court record show that, when law enforcement conducted the search warrant, it appeared that some of the occupants of the stash house had been attempting to destroy evidence by flushing methamphetamine down the toilet.

    On the same day, investigators also executed a search warrant at another location, seizing 3.6 kilograms of methamphetamine, 1.1 kilograms of heroin, three firearms, and $60,000 in cash. From another residence used by Rivens, law enforcement seized $30,303 in cash and two more firearms. In total, over the course of the investigation, law enforcement seized over a quarter million dollars in drug cash proceeds and other assets, including over $100,000 worth of jewelry, a 2020 Dodge Charger Scat Pack, and a residence used by the DTO to facilitate drug trafficking. 

    In making today’s announcement, U.S. Attorney King commended the FBI, ATF, and CMPD for leading this OCDETF operation.

    OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    Assistant U.S. Attorney Alfredo De La Rosa of the U.S. Attorney’s Office in Charlotte prosecuted the case. 

     

    MIL Security OSI –

  • MIL-OSI Security: Defense News: Chief of Naval Operations, Master Chief Petty Officer of Navy Visit Gulf Coast to Engage with Warfighters

    Source: United States Navy

    Chief of Naval Operations (CNO) Adm. Lisa Franchetti and Master Chief Petty Officer of the Navy (MCPON) James Honea traveled to the Gulf Coast, Oct. 24-25, to engage with active and reserve Sailors and Navy civilians serving in America’s Warfighting Navy.

    This visit underscores the CNO and MCPON’s commitment to warfighting, warfighters and the foundation that supports them.

    “Our greatest strength in our Navy is our people,” said Franchetti. “We can have great technology, great platforms, and all the best equipment around the world, but without our amazing people to operate it, we can’t go anywhere or do anything.”

    At Naval Support Activity (NSA) Panama City, Franchetti and Honea had the opportunity to visit Naval Surface Warfare Center (NSWC) Panama City Division to observe the latest advancements in integrating robotic and autonomous systems in littoral operations and hold discussions with experts in the field about how their work advances one of the Project 33 targets outlined in CNO’s Navigation Plan for America’s Warfighting Navy: “Operationalize robotic and autonomous systems: Move proven systems into the hands of the warfighters.”

    “Our Sailors assigned in the area possess the education and skills that undoubtedly improve our readiness and enhance our warfighting advantage,” said Honea.

    The CNO expressed her appreciation for the innovative work being done.

    “I am inspired by the remarkable technological advancements and the dedication of our Sailors and civilians. The Gulf Coast is home to some of the Navy’s most innovative and talented individuals, and it was an honor to witness their achievements firsthand,” said Franchetti. “Our investments in unmanned warfare technologies are critical to maintaining our maritime superiority and ensuring the safety and security of our Nation.”

    The leaders also visited the Naval Diving and Salvage Training Center, which trains military divers from all branches. The center includes diving simulation facilities that can reach depths of 300 feet, along with an aquatics training facility that features the second-largest pool in the U.S.

    CNO and MCPON continued their visit at Naval Air Station (NAS) Pensacola engaging with students and staff at Information Warfare Training Command Corry Station. This interaction provided an invaluable opportunity for them to gain insights into the training and education of the Navy’s information warfare professionals.

    MCPON commended the students for their dedication and highlighted the vital role the Navy’s information warriors play in providing warfighting capabilities from the seabed to space.

    “Our Sailors assigned in the area possess the education and skills that undoubtedly improve our readiness and enhance our warfighting advantage,” said Honea.

    Next, the CNO presided over a winging ceremony at NAS Pensacola, where she had the honor of presenting 36 “wings of gold” to new pilots, naval flight officers, and an air vehicle pilot. The ceremony is a tradition that marks the completion of a student’s training and their official designation as a naval aviator. The CNO expressed her pride in the newly winged aviators and their commitment to upholding the highest standards of excellence in naval aviation.

    “I’d like to leave you with one final thought. The skill sets, tactics, and training you’ve learned during flight school will stay with you for the rest of your lives, forming the foundation of your careers,” said Franchetti. “Remember the importance of Crew Resource Management and Operational Risk Management, and never forget to aviate, navigate, and communicate.”

    Following the winging ceremony CNO and MCPON hosted a roundtable discussion with Pensacola area Major Commanders and their senior enlisted leaders to discuss the NAVPLAN and gain their perspective on the experiences of our Sailors, civilians, and families in the “cradle of naval aviation.”  They also conducted all hands calls at Panama City, Corry Station, and NAS Pensacola.
     

    They closed out their trip with a visit to the Transaction Service Center (TSC) Pensacola, where CNO and MCPON met with the Sailors and Navy civilians responsible for overseeing all East Coast gains, losses, and military pay, expressing gratitude for their essential work.

    Last year, TSC Pensacola utilized the Get Real Get Better toolset, achieving 99.9 percent accuracy in Sailor pay. This milestone was reached by expanding Human Resources (HR) Service Center workflows, enhancing command triad visibility of Sailor pay and HR professional performance, and collaborating closely with Fleet Commanders.

    NAS Pensacola, the proud home of the Blue Angels, will host the NAS Pensacola Blue Angels Homecoming Air Show, featuring a combined performance with the U.S. Air Force Thunderbirds, on Nov. 1-2, 2024. This event is one of Pensacola’s largest, attracting between 150,000 and 180,000 spectators over the two days. Admission is free and open to the public, with gates opening at 8 a.m. Attendees are encouraged to bring their own seating, or they can opt for paid seating available for purchase.

    MIL Security OSI –

  • MIL-OSI Submissions: Crypto – Bitcoin to hit fresh all-time highs on Trump victory, deVere CEO predicts

    Source: deVere Group


    October 29 2024 – Bitcoin is likely to reach fresh all-time highs should Donald Trump win the US presidential election, predicts the CEO of one of the world’s largest independent financial advisory and asset management organizations.


    The bullish prediction from deVere Group’s Nigel Green comes a week ahead of the down-to-the-wire race for the White House between former president Trump and Vice President Kamala Harris.


    Bitcoin is currently around $71,000 (on Tuesday morning, GMT). The highest price paid for Bitcoin (BTC) is $73,737 which was recorded on March 14 2024.


    The deVere CEO comments: “A Trump victory could be the catalyst that pushes the world’s first and largest cryptocurrency into uncharted territory as his return to office would likely have a renewed emphasis on deregulation, tax incentives, and economic policies favorable to alternative investments, such as Bitcoin.”


    He continues: “During the campaign, he’s positioned himself as the pro-Bitcoin candidate, speaking in favor of digital currencies. 


    “Trump has also criticized the excessive influence of centralized financial institutions and has pledged to reduce regulatory constraints on digital assets if re-elected. 


    “This outspoken support has earned him recognition within the crypto community, with many investors viewing his potential return to office as an important bullish signal for Bitcoin.”


    Investor anticipation of policy shifts that many expect from a second Trump administration is likely to fuel a rally.


    The former president’s pro-business stance is often associated with easing regulatory constraints and implementing fiscal policies that encourage investment in unconventional assets. 


    “Should he return to office, Trump’s focus on deregulation might extend to cryptocurrency markets, providing a friendlier environment for digital assets like Bitcoin,” notes Nigel Green.


    Furthermore, Trump’s previous term was marked by substantial corporate tax cuts, which injected additional liquidity into markets, fostering investment in high-growth assets. 


    “Similar fiscal policies could be reintroduced, creating an environment ripe for Bitcoin’s price appreciation. This potential policy outlook adds a sense of urgency for investors to secure their positions in the leading crypto.”


    The former President’s economic stance, often marked by bold decisions and an ‘America First’ approach, could heighten concerns about potential shifts in global trade and US foreign policy. 


    The deVere CEO affirms: “This uncertain landscape makes Bitcoin an attractive alternative for investors looking to hedge against traditional market risks, spurring a demand that could propel Bitcoin to new highs.”


    In recent years, institutional interest in Bitcoin has grown, with large-scale investors, hedge funds, and even public companies allocating portions of their capital to digital assets. This trend has lent additional legitimacy to Bitcoin and has reduced volatility, making it more accessible to mainstream investors.


    A Trump victory might accelerate this trend by promoting a regulatory environment conducive to institutional involvement in the cryptocurrency market. 


    “Such a scenario would bring even more institutional money into Bitcoin, driving its price higher. If Trump advocates for more crypto-friendly policies, it would reinforce the digital asset’s standing in mainstream finance.”


    His potential re-election could also impact the Federal Reserve’s monetary policy stance and the strength of the US dollar, factors that indirectly affect Bitcoin’s price. If his policies lead to a weaker dollar, investors may flock to Bitcoin as a store of value, spurring further demand and pushing prices upward.


    Nigel Green concludes: “A Trump victory, we believe, could spark a substantial rally for Bitcoin as investors look to capitalize on potential policy shifts and a pro-business outlook. 


    “Given Bitcoin’s current positioning just below its all-time high, this election may be the spark that sends it to new records.”

    deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $12bn under advisement.

    MIL OSI – Submitted News –

  • MIL-OSI Video: UNRWA, Ukraine, Biodiversity & other topics – Daily Press Briefing (29 Oct 2024) | United Nations

    Source: United Nations (Video News)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    Highlights:
    -Briefings
    -Biodiversity
    -UNRWA
    -Occupied Palestinian territory
    -Security Council
    -Lebanon/Israel
    -Lebanon
    -Financial contribution
    -Ukraine
    -Democratic Republic of the Congo
    -Sudan
    -International Day of Care and Support

    BRIEFINGS
    Tomorrow, you will have a heavy day. We’ve asked Amy Pope, the head of the International Organization for Migration who is currently in Sudan to brief you. She will be here at 11 a.m. vie videoconference from Port Sudan to brief you on her ongoing trip. At noon you will have to deal with me. Then at 1 p.m., there will be a briefing here by the Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel and that Commission includes Navid Pillay, Miloon Kothari and Chris Sidoti. Then at 2:00 p.m., Francesca Albanese, the UN Special Rapporteur on the situation of human rights in the Palestinian Territory occupied since 1967 will be here live in person in this very room.

    BIODIVERISTY
    This morning, the Secretary-General is in Cali, in Colombia, where he is attending the high-level segment of the 16th meeting of the Conference of Parties to the Convention on Biological Diversity (COP16). In his remarks, he highlighted that nature is life, and yet we are waging a war against it, a war where there can be no winner. He is in fact about to deliver those remarks and he is expected to warn that no country, rich or poor, is immune to the devastation inflicted by climate change, biodiversity loss, land degradation and pollution, adding that these environmental crises are intertwined, they know no borders.
    The Secretary-General noted that when the Framework was adopted two years ago in Montreal, the world made bold commitments to living in harmony with nature by mid-century. He said that we must now turn these promises into acts.
    This morning, he had a series of bilaterals. He met with Leslie Voltaire, the President of the Transitional Presidential Council of Haiti. They agreed on the need to expedite the political transition towards holding elections. In the meeting, the Secretary-General appealed to Haitian stakeholders to set aside their differences and work together for Haiti’s peace and security.
    This afternoon, the Secretary-General will engage in discussions with indigenous people and local communities, as well as representatives of civil society, including youth and women.
    And I think he just met with Gustavo Petro, the President of Colombia.  Tomorrow, on the sidelines he will speak at an event on plastic pollution organized by the UN Environment Programme. He will also speak to journalists at a press conference before heading out of Cali and coming back to New York.

    UNRWA
    You saw that last night we issued a statement in the Secretary-General’s name in which he expressed his deep concern at the adoption yesterday by the Israeli Knesset of two laws concerning the United Nations Relief and Works Agency for Palestine Refugees in the Near East, better known to all of us as UNRWA, and the laws which, if implemented, would likely prevent UNRWA from continuing its essential work in the Occupied Palestinian Territory, including East Jerusalem, as mandated by the General Assembly of these United Nations.
    The Secretary-General emphasized that UNRWA is the principal means by which essential assistance is supplied to Palestine refugees in the Occupied Palestinian Territory. There is no alternative to UNRWA.
    He calls on Israel to act consistently with its obligations under the Charter of the UN and its other obligations under international law, including international humanitarian law and those concerning the privileges and immunities of the United Nations. National legislation cannot alter those obligations. He is bringing this matter to the attention of the General Assembly and will keep the Assembly closely informed on the situation as it develops. 
    Philippe Lazzarini, the Commissioner General of UNRWA, added that these bills will only deepen the suffering of Palestinians, especially in Gaza, where people have been going through more than a year of sheer hell. He said that these bills increase the suffering of the Palestinians and are nothing less than collective punishment. Mr. Lazzarini also sent a letter to the President of the General Assembly to express those concerns in detail.

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=29%20October%202024

    https://www.youtube.com/watch?v=GvOsMwPEo38

    MIL OSI Video –

  • MIL-OSI Video: Reporters Without Borders RSF report shows press freedom shortcomings in key swing states ahead of 2024 election

    Source: Reporters Without Borders (RSF) (Video Release)

    “Swing States” and press freedom in the #UnitedStates: the deep concern.
    We analyzed 4 key states – and found many gaps in press freedom at a time when voters need concrete information to understand the issues and candidates before them.

    As the U.S. presidential election looms, we have released a new report analyzing four key swing states — and found that none are a model of press freedom. Clayton Weimers, the Executive Director of RSF’s Washington-based US office, talks about how the journalists and media experts in these states are highly concerned about the media’s dire economic situation, a lack of responsiveness from government officials, and growing hostility from local political leaders.

    There can be no democracy without press freedom, so it’s critically important to understand the issues confronting the news media in the places that are most pivotal in American presidential elections. We hope that this report will provide a starting point for all Americans to demand improvements in their states’ media ecosystems: greater transparency, better access to information, and a marketplace that enables journalism to thrive.

    Find the full report here: https://rsf.org/en/usa-rsf-report-shows-press-freedom-shortcomings-key-swing-states-ahead-2024-election

    #media #journalisme #freespeech #freepress #journalists #journaliste #condemningabuses #reportersindanger #rsf

    https://www.youtube.com/watch?v=djEZgtiLY8I

    MIL OSI Video –

  • MIL-OSI USA: Congressman Morgan McGarvey Returns Over $5 Million to Louisvillians

    Source: United States House of Representatives – Congressman Morgan McGarvey (Kentucky-03)

    October 29, 2024

    LOUISVILLE, KY (October 29, 2024) – Today, Congressman Morgan McGarvey (KY-03) announced that his team has closed nearly 2,500 constituent cases since taking office last year, saving Louisvillians over $5 million in benefits, backpay, and owed federal dollars.

    “Whether it’s making sure veterans receive their earned benefits or clearing up an issue with a passport renewal, Team McGarvey is here to help,” said Rep. McGarvey. “My constituent service team works hard to quickly and compassionately to resolve federal issues on behalf of Louisville families, and over the past two years, we’ve been able to close nearly 2,500 of these cases and put $5,000,000 back in constituents’ pockets. It’s an incredible milestone, and I’m proud of the positive impact our work has had on the lives of our fellow Louisvillians.”

    See what constituents are saying about the help they received below:

    “I waited 9 months for survivors benefits from Social Security, then I called these amazing people and I received it in 3 days. Thank you so much” – Sherry O.

    “I wanted to thank you for your incredible support with my brother’s complicated case involving the Embassy and USCIS. Your prompt and effective handling made a significant difference, and we are truly grateful for your assistance. Your dedication and swift action were greatly appreciated. Thank you for your outstanding support!” – Ibrahim W.

    “I had given up any possibility of going on my trip to Antigua. I had been trying to change my last name on my passport for 5 months. I could never talk to anyone at the passport customer service center that could clearly answer any of my questions, so I was mailing forms back and forth constantly. My travel agent suggested, with 12 days to spare, that I reach out to my local Congressman’s office. I honestly didn’t think they would be able to assist me but boy was I wrong!! Within minutes of them inquiring on my behalf, they were informed that my passport would be printed, and they were also provided tracking information. This was on Monday, TUESDAY my passport was in Louisville. I do not believe this would have happened if not for the quick and efficient help received from this office. I can’t thank them enough!!” – Bridgette M.

    “Exceptional! Your professionalism and efficiency have lifted so much stress that my family was going through. Your timely updates were invaluable. Grateful for your help.” – Mohammad M.

    For more casework success testimonials, click here. For assistance with a federal agency, please visit mcgarvey.house.gov. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Warner, Kaine, and Scott Applaud $380 Million in Inflation Reduction Act Funding for the Port of Virginia

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner
    WASHINGTON –  Today, U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA) and U.S. Representative Bobby Scott (D-VA-03) announced $380,000,000 in federal funding for the Port of Virginia to accelerate its plan to become carbon-neutral by 2040. Warner, Kaine, and Scott advocated for this funding and sent a letter of support for this grant. The funding was awarded through the Environmental Protection Agency’s Clean Ports Program, which was made possible by the Inflation Reduction Act that the members helped pass. 
    “The Port of Virginia is one of the largest and busiest ports on the eastern seaboard, and it’s critical to Virginia’s economy and offshore wind industry. As the Port of Virginia continues to grow thanks to investments we’re making, we must also ensure we’re reducing greenhouse gas emissions, which result in negative health and environmental impacts for our communities,” said the lawmakers. “That’s why we’re thrilled that this federal funding, which was made possible by theInflation Reduction Act we supported, will accelerate the Port’s efforts to achieve net-zero carbon emissions by 2040 and further cement Virginia’s place as a leader in clean energy.”  
    The Inflation Reduction Act made historic investments to support clean energy projects. It included clean energy tax credits that have incentivized a series of corporate investments in Virginia, including:
    A $681 million investment by LS GreenLink to build a state-of-the-art facility to manufacture high-voltage subsea cables used for offshore wind farms inChesapeake, which will create over 330 jobs in Virginia.
    An investment of over $400 million by Topsoe to build a new manufacturing facility in Chesterfield County, which will create at least 150 new jobs in Virginia.
    An investment of $208 million by Mack and Volvo Trucks—in addition to a federal grant award of over $208 million for the company—to sustain 7,900 union jobs and create 295 new jobs in Virginia, Maryland, and Pennsylvania. Volvo Trucks is the second largest employer in the New River Valley, sustaining 3,600 jobs in Dublin, including 3,200 United Automobile Workers (UAW) jobs. In September 2024, Warner and Kaine visited Volvo’s New River Valley plant to celebrate the investment.
    Today’s announcement builds on other transformational investments made to the Port of Virginia by the Biden-Harris administration with the backing of Warner, Kaine, and Scott. That includes $225.4 million to fully fund the Norfolk Harbor Deepening and Widening Project, which will improve navigation and expand capacity by deepening and widening Norfolk Harbor’s shipping channels, allowing for two-way traffic in and out of the harbor. Of this amount, $141.7 million was made available through the Infrastructure Investment and Jobs Act and $83.7 million was provided through the Fiscal Year 2022 omnibus appropriations bill.
    The Port also previously received $20 million in federal funding from the Department of Transportation for improvements to Portsmouth Marine Terminal that will allow it to serve as a staging area to support the manufacturing and movement of offshore wind goods to support the 2.6 gigawatt Coastal Virginia Offshore Wind commercial project and other commercial offshore wind projects up-and-down the East Coast. Warner, Kaine, and Scott led a Virginia Congressional Delegation letter to Secretary of Transportation Pete Buttigieg in support of the Port’s application for that funding.

    MIL OSI USA News –

  • MIL-OSI USA: Pelosi Family Statement on Sentencing in the Violent Assault on Paul Pelosi

    Source: United States House of Representatives – Congresswoman Nancy Pelosi Representing the 12th District of California

    San Francisco – The Pelosi family issued this statement and released the following letter from Mr. Paul Pelosi:

    “Two grueling years after the defendant violently broke into our family home with zip ties and a hammer yelling ‘where’s Nancy?,’ then kidnapped Mr. Pelosi and nearly killed him, legal justice has been served. Our entire family is grateful to the paramedics and lifesaving General Hospital trauma team, to the prosecution staff and to all who have sent love and prayers. Mostly, we are in awe of Pop’s courage on that horrible night two years ago — as well as on the witness stand at two criminal trials and every day of his recovery from the vicious assault on his life.

    “Since the violent break-in and shouts of ‘where’s Nancy?’ two years ago, not a day goes by that we do not think of this devastating assault, its trauma — or the possibility of future attacks. Today’s sentence of life without parole gives our Pop some measure of legal justice and, we hope, a message to others that political violence against elected officials or their family members will not be tolerated, minimized or condoned. We must each do our part to build a peaceful democracy.”

    ***

    Dear Judge Dorfman,

    The last peaceful sleep I had ended abruptly at 2:00 am on October 28, 2022 when the defendant violently broke into my home, burst into my bedroom and stood over my bed with a hammer and zip ties demanding to see my wife, yelling “Where’s Nancy?”

    Awakened by a large violent man wielding a weapon and threatening to tie up my wife and “take her out,” I did all I could to calm him and save my own life. I tried escaping from my bedroom to the elevator to call the police but he crowded into the elevator with me and prevented my escape or rescue. The defendant knew I was alone and could have left then and there once he learned that my wife Nancy Pelosi, then Speaker of the United States House of Representatives, was in Washington, DC for work — but he kept me hostage in my own home saying he would wait for her. He insisted that he was on a political mission to avenge what he considered to be my wife’s mistreatment of former President Donald Trump — and said he was going to wait for my wife, tie her up and interrogate her about that.

    I managed to make my way into my bathroom to call the police — and again the defendant could have left me there — but he continued to stay even after I dialed 911. I told the 911 operator who I was and tried to get her to understand that I needed help — all the while, the defendant lumbered over me, interrupted my conversation, falsely claimed to be a friend of Nancy’s and mine, and urged me to hang up, so I did. I thought I had a chance of saving my life if I went downstairs. Lord knows what would have happened if I was two floors up and the police arrived. So I convinced the defendant to go downstairs — which we did, slowly because I was still recovering from knee surgery — and just when the police arrived and I thought I would be free, he did not run away out the back patio door that he’d broken into — or even run past the police officers who stood at the door with no guns or tasers in hand. Instead, as he later testified, the defendant made me “take the punishment” with a vicious assault. After the defendant struck me in the head with blows from his hammer, I fell unconscious.

    When I awoke in a pool of my own blood, I had severe head, arm and hand injuries. The paramedics who cut off my pajamas and put tourniquets on my head and arms kept me awake and helped save my life. But even after emergency trauma surgery and six days at San Francisco General Hospital, my injuries were severe and persistent.

    My head injuries continue to affect my life. My hair grew back — but I have bumps on my head from the hammer blows that crushed my skull — and a metal plate that will forever remain in my head. The dizziness has not gone away. In late November of 2023 — 13 months after the assault — I felt vertigo and fell twice at home, leading to extensive medical evaluations including MRIs and nerve block injections in my neck. Treatments continue. To this day, I walk slowly and have difficulty with my balance. Nearly every day I get headaches that become migraines unless quickly addressed. I need to sleep during the day and cannot tolerate bright lights or loud noises for extended periods of time.

    The defendant’s violent attack severely damaged the nerves in my left hand. My forehand was “de-gloved” exposing raw nerves and blood vessels. Surgeries and treatments mostly healed the skin, but underneath I still felt pinched nerves in my left hand for months, making basic tasks like using buttons, cutlery and simple tools more difficult. My right arm had stitches for 8 weeks. Sleeping alone in my home still evokes memories of the defendant breaking into my house.

    It took many months to reclaim my home and well-being. I still keep away from media and video of the attack for my own peace of mind. Even after testifying in federal and state criminal trials, I do not read the coverage or willingly revisit the events. My family and friends were traumatized by the attack — and many political spouses with whom I have grown close during my wife’s service in Congress have been both sympathetic to me and scared for their own safety. To protect my healing, I still do not address the assault with my wife or anyone else. Nor do I discuss the trauma experienced by my wife who remains under 24-hour security two years later even though she is no longer serving as Speaker of the House. Even now, we do not answer our landline phone or our front door due to ongoing threats. We cannot fully remove the stain on the floor in the front entryway where I bled. As recently as this summer, we had to improve security measures at our home due to ongoing threats.

    I ask that you consider the premeditated, violent break-in of my home, kidnapping and vicious assault on my life, and the ongoing physical and mental injuries caused by the defendant.

    Since the violent break-in and shouts of “where’s Nancy?” echoing in my bedroom two years ago, not a day goes by that we do not think of this devastating assault, its trauma — or the possibility of future attacks. For these reasons, my entire family joins me in requesting that you sentence the defendant to the fullest extent the law provides.

    Thank you for your consideration.

    Sincerely,

    Paul Pelosi

    MIL OSI USA News –

  • MIL-OSI New Zealand: Think of others and use fireworks safely this Guy Fawkes season

    Source: Auckland Council

    Guy Fawkes is just around the corner and with fireworks going on sale in Tamāki Makaurau, here’s a reminder on the rules and tips, so you, your friends and whānau can enjoy fireworks safely.  

    Aotearoa New Zealand has strict rules around the purchase and sale of fireworks. They’re sold for four days leading up to and including Guy Fawkes (2 to 5 November 2024). Not just anyone can buy fireworks – you must be 18 years old and have a valid ID.

    Councillor Josephine Bartley, chair of Auckland Council’s Regulatory and Community Safety Committee urges people letting off fireworks to be mindful of others.

    “Some Aucklanders enjoy the Guy Fawkes season, but for others it can be an unsettling and worrying time.

    “Fireworks can be enjoyed on private property in Tamāki Makaurau, but please be aware that others, including your neighbours may not enjoy the sound and sight of them and pets can also be distressed by them.”

    “By all means enjoy fireworks in a safe and responsible manner, but please be respectful to others who may not share your enthusiasm for fireworks.”

    “Auckland Council has long held the view that central Government should ban the private sale of fireworks, and has taken

    opportunities in the past to present this view.”

    Taryn Crewe, Auckland Council’s General Manager Parks and Community Facilities says Aucklanders should give some thought to where they let off fireworks.

    “I hope people have a safe and enjoyable time letting off fireworks on their own property.”

    “Please be aware that using fireworks in parks and on beaches across Auckland is not allowed.”

    Muriwai beach access

    Te Oneone Rangatira / Muriwai Beach will be closed to vehicles during the Guy Fawkes period this year, from 2 to 11 November, to mitigate fire risk in the area.

    Enjoying fireworks safely and responsibly

    • Fireworks can only be let off on private property. 

    • It is not legal to light fireworks on council-controlled land, such as parks and beaches, across the whole of Tāmaki Makaurau.

    • Lighting fireworks is also prohibited in forests, conservation areas and on road surfaces, berms or footpaths on your street.

    • The Tūpuna Maunga Authority will close public access to 14 maunga across Tāmaki Makaurau from Saturday 2 November 2024 to Tuesday 5 November 2024 to protect them from fires. This is the sixth year in a row the Authority has closed our maunga.

    • Make sure yourself and others stand well back from fireworks once they are lit.

    • Inform your neighbours if possible and avoid using fireworks after 10pm.

    • Have water or a fire extinguisher handy.

    • Read and follow fireworks handling instructions carefully.

    • Do not light fireworks in windy or dry conditions.

    • Do not point fireworks at any person, animal, property or vegetation.

    • Always have a responsible adult present.

    • Keep pets inside or move animals to avoid stress.

    • On rural private land during Guy Fawkes (2-5 November) bonfires are allowed but must be lit during daylight hours and extinguished before nightfall. During a Restricted Fire Season a permit is need from Fire and Emergency New Zealand.

    • Sky lanterns, also known as Chinese lanterns, are a fire risk when left to fly away. They must be secured.

    • Don’t store fireworks after Guy Fawkes as it’s hard to know if they’ll be safe to use at a later date.

    Fire and Emergency New Zealand advises visiting its website for restrictions and fire safety advice. 

    Looking out for pets during Guy Fawkes

    Elly Waitoa, Auckland Council Animal Management Manager says people should be extra mindful of their pets during the days leading up to Guy Fawkes and the day itself.

    “Pets can be extremely sensitive to the sounds and light produced by fireworks. They can react negatively and become distressed.”

    “Organise a safe place inside for your pets and pay extra care to them during this time.

    “Please ensure your pets are safe and well confined if you aren’t at home with them during the Guy Fawkes period.”

    Ms Waitoa also says the time around Guy Fawkes usually sees an increase in the number of dogs entering council animal shelters.

    “Make sure your dog is registered and microchipped. This will make it easier for you to be reunited with your dog if it gets lost.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: LEBANON: At least 2 children killed every day in five weeks of war

    Source: Save the Children

    Over 100 children have been killed by Israeli airstrikes in five weeks of war – an average of two children a day – said Save the Children. In the latest violence, at least 60 people, including two children, were killed overnight on Monday in Israeli strikes on Lebanon’s eastern Bekaa Valley, one of the deadliest incidents in the Bekaa since conflict escalated on 23 September.
    More than one million people – about one fifth of the population – have been forcibly displaced from their homes and about 2,700 people, including over 150 children, killed and more than 12,500 injured since October last year according to the Ministry of Public Health.
    Jennifer Moorehead, Save the Children’s Country Director in Lebanon said:
    “We’re plunging into a humanitarian crisis that is first and foremost a children’s crisis. We’re starting to see the same pattern we’ve witnessed in over a year of war in Gaza: mass casualty events with civilians, including children; health workers killed while on duty; more than 50 attacks on healthcare facilities; UN installations attacked, and journalists targeted.
    “Israeli airstrikes have expanded into densely populated areas, severely damaging critical infrastructure and creating mass displacement. The conflict has left over 25% of Lebanon under Israeli military displacement orders. On a daily basis, evacuation warnings are issued, many with little notice, giving families little time to escape before bombardments begin. In Beirut, we’re still seeing thousands of displaced children and families sleeping in the open air with their belongings piled around them, unable to find shelter or a safe place to go.
    “The longer the conflict lasts, the more challenging it will be for children to regain a sense of normalcy. Six out of 10 public schools have been repurposed as shelters for the displaced, with the beginning of the school year now postponed to November 4, and possibly longer. Every day away from the classroom, is a growing threat to children’s long-term physical and mental wellbeing. By law, children must be off-limits in war and must be protected. There is no time to waste, we urgently need a ceasefire now.” 
    Save the Children has been working in Lebanon since 1953. Since October 2023, we’ve been scaling up our response in Lebanon, supporting displaced Lebanese, Syrian and Palestinian children and families, and now have escalated an emergency response throughout the country in 194 collective shelters. Since October 2023, we’ve supported more than 110,000 people, including 47,000 children, with cash, blankets, mattresses and pillows, food parcels, water bottles and kits containing essential hygiene items. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Education – Chronic absence in schools doubled in last decade, current model not working

    Source: Education Review Office

    New research from the Education Review Office (ERO) has found that chronic absence in students has doubled in the last decade, and that the system for addressing this is ineffective and failing.
    In Term 2 this year, one in 10 students were chronically absent, with over 80,000 students missing more than three weeks of school during the term. Since 2015 chronic absence has doubled in secondary schools and nearly tripled in primary schools.
    “The number of students who are chronically absent from school is at crisis point and is damaging students’ futures,” says Ruth Shinoda, Head of ERO’s Education Evaluation Centre.
    “Over half of students who are chronically absent from school do not go on to achieve NCEA Level 2. They have higher rates of offending, are more likely to be victims of crime, and are more likely to live in social and emergency housing as adults. By age of 20, they cost the Government three times as much as students who go to school.”
    ERO found that despite the dedication of schools and Attendance Services, the current system to get these students back to school is not effective and needs substantial reform.
    “Action is too slow, and students fall through the gaps,” says Shinoda.
    “Half of schools do not refer students to Attendance Services and too often intervention is too late. Over half of school leaders and Attendance Service staff report there aren’t good options to enforce good attendance”.
    Attendance Services are passionate about helping students get back to school, but they are not set up to succeed. At services ERO visited, caseloads for Attendance Services varied from 30 to more than 500 cases, and funding has not increased to match the increased levels of chronic absence.
    “There is a lack of information sharing, which can make it very challenging and time consuming for Attendance Services to find absent students. Half of Attendance Services report information isn’t shared often across agencies, schools, and Attendance Services.”
    Schools play a critical role and need to be supported to do more to prevent students becoming absent and to help students when they get back to school.
    “We found that some schools are successful in reducing chronic absence even when faced with challenges,” says Shinoda.
    To reverse the trend of increasing chronic absence, ERO is recommending substantial reform that increases the focus on preventing students from becoming chronically absent, puts in place timely and effective targeted support, and does more to ensure students stay in school once they return. It will require additional funding that matches the level of need.
    “We must do more to prevent students missing out on their education. It will take parents and whānau, schools, and Government agencies all working together to fix it and get chronically absent students back to school and thriving,” says Shinoda. 

    MIL OSI New Zealand News –

  • MIL-OSI USA: FEMA Posts Public Notice for Tennessee Counties Affected by Helene

    Source: US Federal Emergency Management Agency

    Headline: FEMA Posts Public Notice for Tennessee Counties Affected by Helene

    FEMA Posts Public Notice for Tennessee Counties Affected by Helene

    A public notice has been posted that describes FEMA’s proposed funding for Tropical Storm Helene work projects that may adversely affect historic properties, floodplains or wetlands, or may result in continuing vulnerability of these areas to flood damage.By law, FEMA is required to announce its intent to provide federal assistance and grant opportunities under its Individual Assistance and Public Assistance programs and the Hazard Mitigation Grant Program after the Oct. 2 major disaster declaration for Tropical Storm Helene.The public notice is posted on FEMA’s disaster web page at DR-4832-TN Public Notice 004 | FEMA.gov and on the Tennessee Emergency Management Agency’s website at FEMA-4832 Public Notice. The major disaster declaration authorizes FEMA to provide financial assistance and direct services to individuals and households affected by the Sept. 26-30 storms in Carter, Cocke, Greene, Hamblen, Hawkins, Johnson, Unicoi and Washington counties.The declaration also authorizes FEMA to provide, under its Public Assistance program, reimbursement or direct federal assistance for emergency and permanent work to eligible state and local agencies and certain private nonprofits. Counties authorized under the Public Assistance program are: Carter, Claiborne, Cocke, Grainger, Greene, Hamblen, Hawkins, Jefferson, Johnson, Sevier, Sullivan, Unicoi and Washington counties.Federal funding is also available on a cost-sharing basis for hazard mitigation measures statewide.For more information about these actions or a specific project, write to FEMA Region 4, 3005 Chamblee Tucker Road, Atlanta, GA 30341-4112. You may also email FEMA-R4EHP@fema.dhs.gov. Include in the email subject line, “DR-4832-TN EHAD.” Comments should be sent in writing within 30 days of the date of the public notice.
    kwei.nwaogu
    Tue, 10/29/2024 – 19:44

    MIL OSI USA News –

  • MIL-OSI: Medallion Financial Corp. Reports 2024 Third Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) — Medallion Financial Corp. (NASDAQ: MFIN, “Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, as well as offers loan products and services through fintech strategic partners, announced today its results for the quarter ended September 30, 2024.

    2024 Third Quarter Highlights

    • Net income was $8.6 million, or $0.37 per share, compared to $11.2 million, or $0.48 per share, in the prior year quarter.
    • Net interest income grew 8% to $52.7 million from $48.8 million in the prior year quarter.
    • Net interest margin on gross loans was 8.11%, compared to 8.35% in the prior year quarter, and on net loans it was 8.42%, compared to 8.64% in the prior year quarter.
    • Loan originations were $275.6 million, compared to $217.4 million in the prior year quarter.
    • Loans grew 13% to $2.5 billion as of September 30, 2024, compared to $2.2 billion a year ago.
    • The credit loss provision increased to $20.2 million from $14.5 million in the prior year quarter.
    • The Company repurchased 122,344 shares of common stock at an average cost of $7.89 per share.
    • Subsequent to September 30, 2024, the Board of Directors increased the quarterly cash dividend 10% to $0.11 per share.

    Executive Commentary – Andrew Murstein, President of Medallion

    “We continue to be pleased with our quarterly performance. The earnings were strong despite lower taxi medallion related recoveries and the absence of equity gains, both of which we experienced in the prior year quarter. At $0.37 per share, our earnings included approximately $0.07 per share of additional allowance tied to the growth of our consumer lending segments, which saw recreation and home improvement loans grow 4% and 5% from the previous quarter to a combined $2.4 billion, with over $235 million in originations this quarter. We continue to be comfortable with the overall credit performance of these two consumer segments, which carry weighted average coupons of 14.92% for recreation loans and 9.76% for home improvement loans. During the quarter we originated recreation loans at an average rate of 16.33% and home improvement loans at an average rate of 10.75%.

    Our net interest income reached $52.7 million during the quarter, up 6% from just a quarter ago. We remain cautiously optimistic that the solid performance of our loan portfolio will continue. Our net interest margin during the quarter was 8.11%, decreasing only 1 basis point from the prior quarter, as we continue to increase our yield to offset the rise in our average cost of borrowings.

    Our total interest income of $76.4 million, net interest income of $52.7 million, and total assets of $2.9 billion were all record highs. Our fintech strategic partnership program at Medallion Bank had its highest volume quarter ever with $40 million of new loans, up from $24 million in the second quarter of this year. As a result, we are optimistic about the quarters ahead and are hopeful to continue delivering meaningful growth in origination volumes in our newest business line.

    Lastly, we are pleased to announce that our board of directors has authorized an increase of our quarterly dividend to $0.11 per share beginning with the upcoming payment next month, reflecting our strong financial performance and ongoing commitment to delivering value to our shareholders. This increase underscores our confidence in the Company’s future growth and stability, as well as our focus on returning capital to investors.”

    Business Segment Highlights

    Recreation Lending Segment

    • Originations were $139.1 million during the quarter, compared to $92.6 million a year ago.
    • Recreation loans grew 15% to $1.6 billion as of September 30, 2024, compared to $1.3 billion a year ago.
    • Recreation loans were 63% of total loans as of September 30, 2024, compared to 61% a year ago.
    • Net interest income grew 9% to $38.9 million for the quarter, from $35.6 million in the prior year quarter.
    • The average interest rate was 14.92% at quarter-end, compared to 14.73% a year ago.
    • Recreation loans 90 days or more past due were $7.5 million, or 0.50% of gross recreation loans, as of September 30, 2024, compared to $5.9 million, or 0.45%, a year ago.
    • Allowance for credit loss rate was 4.53% as of September 30, 2024, compared to 4.24% a year ago.

    Home Improvement Lending Segment

    • Originations were $96.5 million during the quarter, compared to $79.3 million a year ago.
    • Home improvement loans grew 8% to $814.1 million as of September 30, 2024, compared to $750.5 million a year ago.
    • Home improvement loans were 33% of total loans as of September 30, 2024, compared to 34% a year ago.
    • Net interest income grew 5% to $12.0 million for the quarter, from $11.4 million in the prior year quarter.
    • The average interest rate was 9.76% at quarter-end, compared to 9.38% a year ago.
    • Home improvement loans 90 days or more past due were $1.6 million, or 0.19% of gross home improvement loans, as of September 30, 2024, compared to $1.0 million, or 0.13%, a year ago.
    • Allowance for credit loss rate was 2.42% as of September 30, 2024, compared to 2.31% a year ago.

    Commercial Lending Segment

    • Commercial loans were $110.1 million at September 30, 2024, compared to $100.3 million a year ago.
    • The average interest rate on the portfolio was 12.90%, compared to 12.91% a year ago.

    Taxi Medallion Lending Segment

    • The Company collected $4.1 million of cash on taxi medallion-related assets during the quarter.
    • Total net taxi medallion assets declined to $8.8 million (comprised of $1.9 million of loans net of allowance for credit losses and $6.9 million of loan collateral in process of foreclosure), a 46% reduction from a year ago, and represented less than half a percent of the Company’s total assets as of September 30, 2024.

    Capital Allocation

    Quarterly Dividend

    • The Board of Directors declared a quarterly dividend of $0.11 per share, payable on November 27, 2024 to shareholders of record at the close of business on November 15, 2024.

    Stock Repurchase Plan

    • During the third quarter, the Company repurchased 122,344 shares of its common stock at an average cost of $7.89 per share, for a total of $1.0 million.
    • As of September 30, 2024, the Company had $15.4 million remaining under its $40 million share repurchase program.

    Conference Call Information

    The Company will host a conference call to discuss its third quarter financial results tomorrow, Wednesday, October 30, 2024 at 9:00 a.m. Eastern time.

    In connection with its earnings release, the Company has updated its quarterly supplement presentation, which is now available at www.medallion.com.

    How to Participate

    • Date: Wednesday, October 30, 2024
    • Time: 9:00 a.m. Eastern time
    • U.S. dial-in number: (833) 816-1412
    • International dial-in number: (412) 317-0504
    • Live webcast: Link to Webcast of 3Q24 Earnings Call

    A link to the live audio webcast of the conference call will also be available at the Company’s IR website.

    Replay Information

    The webcast replay will be available at the Company’s IR website until the next quarter’s results are announced.

    The conference call replay will be available following the end of the call through Wednesday, November 6.

    • U.S. dial-in number: (844) 512-2921
    • International dial-in number: (412) 317-6671
    • Access ID: 1019 3247

    About Medallion Financial Corp.

    Medallion Financial Corp. (NASDAQ:MFIN) and its subsidiaries originate and service a growing portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com.

    Forward-Looking Statements
    Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, the impact of the pending SEC litigation, expectations regarding our loan portfolio, including collections on our medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control. In addition to risks relating to the current economy, a description of certain risks to which Medallion is or may be subject, including risks related to the pending SEC litigation, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2023 Annual Report on Form 10-K.

    Company Contact:
    Investor Relations
    212-328-2176
    InvestorRelations@medallion.com

    MEDALLION FINANCIAL CORP.
    CONSOLIDATED BALANCE SHEETS
    (UNAUDITED)
     
    (Dollars in thousands, except share and per share data)   September 30, 2024     December 31, 2023     September 30, 2023  
    Assets                  
    Cash, cash equivalents, and federal funds sold   $ 187,929     $ 149,845     $ 127,642  
    Investment and equity securities     66,651       65,712       63,717  
    Loans     2,485,279       2,215,886       2,203,038  
    Allowance for credit losses     (96,518 )     (84,235 )     (79,133 )
    Net loans receivable     2,388,761       2,131,651       2,123,905  
    Goodwill and intangible assets, net     170,311       171,394       171,755  
    Property, equipment, and right-of-use lease asset, net     14,172       14,076       13,278  
    Accrued interest receivable     14,108       13,538       13,593  
    Loan collateral in process of foreclosure     8,818       11,772       15,923  
    Other assets     29,302       29,839       28,814  
    Total assets   $ 2,880,052     $ 2,587,827     $ 2,558,627  
    Liabilities                  
    Deposits   $ 2,108,132     $ 1,866,657     $ 1,855,096  
    Long-term debt     232,037       235,544       218,137  
    Short-term borrowings     49,000       8,000       18,489  
    Deferred tax liabilities, net     20,598       21,207       23,131  
    Operating lease liabilities     5,534       7,019       7,075  
    Accrued interest payable     6,888       6,822       4,624  
    Accounts payable and accrued expenses     26,687       30,804       34,813  
    Total liabilities     2,448,876       2,176,053       2,161,365  
    Total stockholders’ equity     362,388       342,986       328,474  
    Non-controlling interest in consolidated subsidiaries     68,788       68,788       68,788  
    Total equity     431,176       411,774       397,262  
    Total liabilities and equity   $ 2,880,052     $ 2,587,827     $ 2,558,627  
    Number of shares outstanding     23,084,277       23,449,646       23,363,731  
    Book value per share   $ 15.70     $ 14.63     $ 14.06  
                             
    MEDALLION FINANCIAL CORP.‌
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (UNAUDITED)‌
     
        Three Months Ended September 30,     Nine Months Ended September 30,  
    (Dollars in thousands, except share and per share data)   2024     2023     2024     2023  
    Total interest income   $ 76,409     $ 65,886     $ 214,183     $ 183,455  
    Total interest expense     23,672       17,102       63,661       44,379  
    Net interest income     52,737       48,784       150,522       139,076  
    Provision for credit losses     20,151       14,532       55,929       27,045  
    Net interest income after provision for credit losses     32,586       34,252       94,593       112,031  
    Other income (loss)                        
    (Loss) gain on equity investments     (519 )     2,180       3,136       2,189  
    Gain on sale of loans and taxi medallions     340       1,417       1,170       4,578  
    Write-down of loan collateral in process of foreclosure     (19 )     (30 )     (19 )     (303 )
    Other income     785       739       2,802       1,868  
    Total other income, net     587       4,306       7,089       8,332  
    Other expenses                        
    Salaries and employee benefits     9,456       9,630       28,347       27,805  
    Loan servicing fees     2,790       2,501       7,951       7,084  
    Collection costs     1,673       1,583       4,799       4,729  
    Regulatory fees     961       1,021       2,826       2,484  
    Professional fees     818       1,148       3,434       4,223  
    Rent expense     664       629       2,019       1,855  
    Amortization of intangible assets     361       361       1,084       1,084  
    Other expenses     2,272       2,216       6,755       7,220  
    Total other expenses     18,995       19,089       57,215       56,484  
    Income before income taxes     14,178       19,469       44,467       63,879  
    Income tax provision     4,055       6,727       14,196       18,582  
    Net income after taxes     10,123       12,742       30,271       45,297  
    Less: income attributable to the non-controlling interest     1,512       1,512       4,535       4,536  
    Total net income attributable to Medallion Financial Corp.   $ 8,611     $ 11,230     $ 25,736     $ 40,761  
    Basic net income per share   $ 0.38     $ 0.50     $ 1.14     $ 1.81  
    Diluted net income per share   $ 0.37     $ 0.48     $ 1.09     $ 1.77  
    Weighted average common shares outstanding                        
    Basic     22,490,792       22,596,982       22,576,446       22,469,968  
    Diluted     23,447,929       23,392,901       23,555,065       23,067,944  
    Dividends declared per common share   $ 0.10     $ 0.08     $ 0.30     $ 0.24  

    The MIL Network –

  • MIL-OSI: Heartland Financial USA, Inc. (“HTLF”) Reports Quarterly Results as of September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    Third Quarter Highlights

    • Quarterly net income available to common stockholders of $62.1 million or $1.44 per common share
    • Adjusted earnings available to common stockholders of $50.6 million or $1.17 adjusted diluted earnings per common share (non-GAAP), which excludes:
      • Gain on sale, net, of $29.7 million due to the sale of Rocky Mountain Bank branches in Montana.
      • Loss on security sales of $9.5 million.
      • Loss on fixed assets of $2.9 million due to branch closures and write-downs on properties listed for sale.
    • Common equity to total assets increased to 11.11%; while the tangible common equity ratio (non-GAAP) improved 86 basis points to 8.14%.
    • Net interest margin, full tax-equivalent (non-GAAP) increased to 3.78% for the quarter ended September 30, 2024 up from 3.73% for the quarter ended June 30, 2024.
    • Nonperforming loans were $69.9 million or 0.61% of total loans, a decrease of $33.8 million or 33% from the quarter ended June 30, 2024.
      • Charge-offs of $32.1 million, of which the majority have been reserved for in prior periods, were recorded for the third quarter.
      For the Quarter Ended   For the Nine Months Ended
    September 30,
      9/30/2024   6/30/2024   9/30/2023   2024   2023
    Earnings Summary:                  
    Net income/(loss) available to common stockholders (in millions) $ 62.1     $ 37.7     $ 46.1     $ 149.6     $ 144.2  
    Diluted earnings/(loss) per common share   1.44       0.88       1.08       3.47       3.37  
    Annualized return on average assets   1.38 %     0.84 %     0.94 %     1.10 %     1.00 %
    Annualized return on average common equity   12.60       8.14       10.47       10.59       11.28  
    Annualized return on average tangible common equity (non-GAAP)(1)   18.32       12.28       16.32       15.77       17.82  
    Net interest margin   3.73       3.68       3.14       3.65       3.23  
    Net interest margin, fully tax-equivalent (non-GAAP)(1)   3.78       3.73       3.18       3.69       3.27  
    Efficiency ratio   48.58       65.69       63.77       58.94       61.86  
    Adjusted efficiency ratio, fully-tax equivalent (non-GAAP)(1)   57.98       57.73       59.95       58.16       58.98  
                       
    Adjusted Earnings Summary (1):                  
    Adjusted earnings available to common stockholders (in millions) $ 50.6     $ 49.6     $ 48.1     $ 152.7     $ 148.3  
    Adjusted diluted earnings per common share   1.17       1.15       1.12       3.54       3.47  
    Adjusted annualized return on average assets   1.14 %     1.09 %     0.98 %     1.12 %     1.02 %
    Adjusted annualized return on average common equity   10.27       10.71       10.92       10.81       11.60  
    Adjusted annualized return on average tangible common equity   14.98       16.05       17.02       16.09       18.31  
                       

    (1) Refer to “Non-GAAP Measures” in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to the financial tables for reconciliations to the most directly comparable GAAP measures.

    “HTLF delivered a solid third quarter. Net interest margin increased as we continue to pay down high cost wholesale deposits. Our tangible common equity ratio improved to 8.14%. In July we completed the strategic sale of Rocky Mountain Bank in Montana, resulting in a net gain of $29.7 million. We continue to work closely with our partners at UMB on integration planning for our two companies and we’re excited about closing the transaction, expected in Q1 2025.”
    Bruce K. Lee, President and Chief Executive Officer, HTLF

    DENVER, Oct. 29, 2024 (GLOBE NEWSWIRE) — Heartland Financial USA, Inc. (NASDAQ: HTLF) today reported the following results for the quarter ended September 30, 2024, compared to the quarter ended September 30, 2023:

    • Net income available to common stockholders of $62.1 million compared to $46.1 million, an increase of $16.1 million or 35%.
    • Earnings per diluted common share of $1.44 compared to $1.08, an increase of $0.36 or 33%.
    • Adjusted earnings available to common stockholders(1) of $50.6 million or $1.17 per diluted common share compared to $48.1 million or $1.12 per diluted common share, which excludes:
      • Gain on sale, net, of $29.7 million due to the sale of Rocky Mountain Bank branches in Montana.
      • Loss on security sales of $9.5 million.
      • Loss on fixed assets of $2.9 million due to branch closures and write-downs on properties listed for sale.
    • Net interest income of $157.9 million compared to $145.8 million, an increase of $12.1 million or 8%.
    • Annualized return on average assets of 1.38% compared to 0.94%. Adjusted annualized return on average assets(1) of 1.14% compared to 0.98%.
    • Annualized return on average common equity of 12.60% compared to 10.47%. Adjusted annualized return on average common equity(1) of 10.27% compared to 10.92%.
    • Annualized return on average tangible common equity(1) of 18.32% compared to 16.32%. Adjusted annualized return on average tangible common equity(1) of 14.98% compared to 17.02%.

    Rocky Mountain Bank Sale

    HTLF Bank closed on the sale of the Rocky Mountain Bank branches in Montana in mid-July to two purchasers, which included loans of $343.8 million, deposits of $531.9 million and fixed assets of $13.8 million. The gain on sale, net, of $29.7 million was realized in the third quarter of 2024.

    Net Interest Income and Net Interest Margin

    Net interest margin, expressed as a percentage of average earning assets, was 3.73% (3.78% on a fully tax-equivalent basis, non-GAAP) for the third quarter of 2024 compared to 3.68% (3.73% on a fully tax-equivalent basis, non-GAAP) for the second quarter of 2024, and 3.14% (3.18% on a fully tax-equivalent basis, non-GAAP) for the third quarter of 2023.

    Total interest income and average earning asset changes for the third quarter of 2024 compared to the third quarter of 2023 were:

    • Total interest income was $253.8 million compared to $245.4 million, an increase of $8.4 million or 3%, primarily attributable to an increase in yields on average earning assets. During the third quarter of 2024, HTLF recorded $5.3 million in additional interest income for a security that paid off.
    • Total interest income on a tax-equivalent basis (non-GAAP) was $255.8 million, an increase of $8.2 million or 3%, from $247.6 million. Subsequent to September 30, 2024, the fair value hedges were terminated in favorable market conditions in early October. HTLF recorded $10.3 million of interest income associated with the fair value hedges in the third quarter of 2024 in comparison to $5.6 million in the third quarter of 2023. As a result of the fair value hedge terminations, no additional interest income will be recorded.
    • Average earning assets decreased $1.60 billion or 9% to $16.84 billion compared to $18.44 billion, primarily due to the sale of $865.4 million of securities during the fourth quarter of 2023, $108.4 million of securities sold during the second quarter of 2024, and $40.3 million of securities sold during the third quarter of 2024. The proceeds were utilized to pay down high-cost wholesale deposits and borrowings.
    • The average rate on earning assets increased 71 basis points to 6.04% from 5.33%, primarily due to recent interest rate increases on earning assets.

    Total interest expense and average interest-bearing liability changes for the third quarter of 2024 compared to the third quarter of 2023 were:

    • Total interest expense was $95.9 million, a decrease of $3.8 million from $99.7 million, primarily due to a decrease in average interest-bearing liabilities.
    • The average interest rate paid on interest-bearing liabilities increased 17 basis points to 3.18% from 3.01%.
    • Average interest-bearing deposits decreased $1.65 billion or 13% to $11.03 billion from $12.68 billion.
    • The average interest rate paid on interest-bearing deposits decreased 4 basis points to 2.86% from 2.90%.
    • Average borrowings and term debt increased $478.2 million to $953.9 million from $475.7 million, and the average interest rate paid on borrowings decreased 40 basis points to 5.39% from 5.78%.

    Net interest income changes for the third quarter of 2024 compared to the third quarter of 2023 were:

    • Net interest income totaled $157.9 million compared to $145.8 million, an increase of $12.1 million or 8%.
    • Net interest income on a tax-equivalent basis (non-GAAP) totaled $159.9 million compared to $147.9 million, an increase of $12.0 million or 8%.

    Noninterest Income and Noninterest Expense

    Total noninterest income was $19.0 million during the third quarter of 2024 compared to $28.4 million during the third quarter of 2023, a decrease of $9.4 million or 33%. Significant changes within the noninterest income category for the third quarter of 2024 compared to the third quarter of 2023 were:

    • Service charges and fees decreased $1.5 million or 8% to $17.1 million from $18.6 million, primarily attributable to a decrease in consumer NSF and overdraft fees. In the fourth quarter of 2023, HTLF instituted a new fee policy across our single charter customer base in response to industry changes related to consumer overdraft fees.
    • Net security losses increased $9.4 million to $9.5 million compared to net security losses of $114,000.
    • Net gains on sales of loans held for sale decreased to $0 from $905,000, due to HTLF ceasing originations of residential mortgage loans to be sold to the secondary market.
    • Other noninterest income increased $957,000 to $1.6 million from $619,000, primarily due to an increase in deferred compensation income of $1.0 million to $1.5 million from $433,000.  

    Total noninterest expense was $85.9 million during the third quarter of 2024 compared to $111.1 million during the third quarter of 2023, a decrease of $25.1 million or 23%. Significant changes within the noninterest expense category for the third quarter of 2024 compared to the third quarter of 2023 were:

    • Salaries and employee benefits totaled $62.7 million compared to $62.3 million, an increase of $480,000 or 1%. The increase was attributable to higher benefit costs including incentive compensation and benefit expenses partially offset by a reduction of full-time equivalent employees. Full-time equivalent employees totaled 1,725 compared to 1,965, a decrease of 240 or 12%.
    • Professional fees totaled $17.4 million compared to $13.6 million, an increase of $3.8 million or 28%, primarily due to an increase legal expenses, including those associated with special asset loans.
    • Gain on sale of assets, net, totaled $26.4 million compared to a loss on sale of assets of $108,000. As discussed earlier, Rocky Mountain Bank, a division of HTLF Bank, was sold during the third quarter of 2024 which generated a gain on sale, net, of $29.7 million.

    The effective tax rate was 24.25% for the third quarter of 2024 compared to 21.89% for third quarter of 2023. The following items impacted the third quarter 2024 and 2023 tax calculations:

    • Various tax credits of $629,000 compared to $1.6 million.
    • Tax-exempt interest income as a percentage of pre-tax income of 8.92% compared to 13.14%.
    • Tax benefit of $140,000 compared to a tax expense of $41,000 resulting from the vesting of restricted stock units.
    • Tax expense of $1.1 million compared to $1.6 million resulting from the disallowed interest expense related to tax-exempt loans and securities.

    Total Assets, Total Loans and Total Deposits

    Total assets were $18.27 billion at September 30, 2024, compared to $18.81 billion at June 30, 2024, and $19.41 billion at December 31, 2023. Total assets decreased $540.1 million or 3% during the third quarter of 2024 and $1.14 billion or 6% since year-end 2023. Securities represented 27% and 29% of total assets at September 30, 2024, and December 31, 2023, respectively.

    Total loans held to maturity were $11.44 billion at September 30, 2024, compared to $11.61 billion at June 30, 2024, and $12.07 billion at December 31, 2023. Loans decreased $167.4 million or 1% during the third quarter of 2024 and $627.7 million or 5% since year-end 2023. Excluding the impact of Rocky Mountain Bank, loans held to maturity decreased $172.4 million or 1% during the third quarter of 2024 and decreased $284.0 million or 2% since year-end 2023.

    Significant changes by loan category at September 30, 2024 compared to June 30, 2024 included:

    • Commercial and business lending, which includes commercial and industrial, PPP and owner occupied commercial real estate loans, decreased $262.7 million or 4% to $5.99 billion compared to $6.26 billion. Excluding the impact of Rocky Mountain Bank, commercial and business lending decreased $119.4 million or 2%.
    • Commercial real estate lending, which includes non-owner occupied commercial real estate and construction loans, decreased $3.3 million, or less than 1%, to $3.58 billion compared to $3.58 billion. Excluding the impact of Rocky Mountain Bank, commercial real estate lending increased $67.0 million or 2%.
    • Agricultural and agricultural real estate loans decreased $167.2 million or 19% to $701.2 million compared to $868.4 million. Excluding the impact of Rocky Mountain Bank, agricultural and agricultural real estate loans decreased $99.9 million or 12%.
    • Residential mortgage loans decreased $56.7 million or 7% to $708.0 million compared to $764.7 million. Excluding the impact of Rocky Mountain Bank, residential mortgage loans decreased $25.7 million or 3%.

    Significant changes by loan category at September 30, 2024 compared to December 31, 2023 included:

    • Commercial and business lending, which includes commercial and industrial, PPP and owner occupied commercial real estate loans, decreased $298.6 million or 5% to $5.99 billion compared to $6.29 billion. Excluding the Rocky Mountain Bank loans sold of $143.3 million, commercial and business lending decreased $155.3 million or 2%.
    • Commercial real estate lending, which includes non-owner occupied commercial real estate and construction loans, increased $9.9 million or less than 1% to $3.58 billion compared to $3.57 billion. Excluding the Rocky Mountain Bank loans sold of $70.3 million, commercial real estate lending increased $80.2 million or 2%.
    • Agricultural and agricultural real estate loans decreased $218.0 million or 24% to $701.2 million compared to $919.2 million. Excluding the Rocky Mountain Bank loans sold of $67.3 million, agricultural and agricultural real estate loans decreased $150.7 million or 16%.
    • Residential mortgage loans decreased $89.8 million or 11% to $708.0 million compared to $797.8 million. Excluding the Rocky Mountain Bank loans sold of $31.0 million, residential mortgage loans decreased $58.9 million or 7%.

    Total deposits were $14.95 billion as of September 30, 2024, compared to $14.96 billion as of June 30, 2024, a decrease of $3.4 million or less than 1%. Total deposits were $14.95 billion as of September 30, 2024, compared to $16.20 billion at December 31, 2023, which was a decrease of $1.25 billion or 8%. Excluding the impact of Rocky Mountain Bank, deposits decreased $9.8 million or less than 1% during the third quarter of 2024 and decreased $716.6 million or 4% since year-end 2023.

    Total customer deposits were $14.35 billion as of September 30, 2024, compared to $14.13 billion at June 30, 2024, an increase of $217.6 million or 2%. Excluding the impact of Rocky Mountain Bank, customer deposits increased $211.2 million or 1%. Significant customer deposit changes by category at September 30, 2024, compared to June 30, 2024, included:

    • Customer demand deposits decreased $367.6 million or 8% to $4.01 billion compared to $4.38 billion. Excluding the impact of Rocky Mountain Bank, customer demand deposits decreased $235.9 million or 6%.
    • Customer savings deposits increased $270.0 million or 3% to $8.71 billion compared to $8.44 billion. Excluding the impact of Rocky Mountain Bank, customer savings deposits increased $554.4 million or 7%.
    • Customer time deposits decreased $223.1 million or 12% to $1.63 billion compared to $1.85 billion. Excluding the impact of Rocky Mountain Bank, customer time deposits decreased $107.3 million or 6%.

    Total customer deposits were $14.35 billion as of September 30, 2024, compared to $14.86 billion at December 31, 2023, a decrease of $505.1 million or 3%. Excluding the Rocky Mountain Bank customer deposits sold of $531.9 million, customer deposits increased $26.7 million. Significant customer deposit changes by category at September 30, 2024, compared to December 31, 2023, included:

    • Customer demand deposits decreased $491.1 million or 11% to $4.01 billion compared to $4.50 billion. Excluding the Rocky Mountain Bank customer demand deposits sold of $131.7 million, customer demand deposits decreased $359.3 million or 8%.
    • Customer savings deposits increased $302.0 million or 4% to $8.71 billion compared to $8.41 billion. Excluding the Rocky Mountain Bank customer savings deposits sold of $284.3 million, customer savings deposits increased $586.3 million or 7%.
    • Customer time deposits decreased $316.0 million or 16% to $1.63 billion compared to $1.94 billion. Excluding the Rocky Mountain Bank customer time deposits sold of $115.8 million, customer time deposits decreased $200.2 million or 10%.

    Total wholesale and institutional deposits were $601.9 million as of September 30, 2024, a decrease of $221.0 million or 27% from $822.9 million at June 30, 2024. Significant wholesale and institutional deposit changes by category at September 30, 2024 compared to June 30, 2024 included:

    • Wholesale and institutional savings deposits decreased $105.7 million or 33% to $213.0 million compared to $318.6 million.
    • Wholesale time deposits decreased $115.3 million or 23% to $389.0 million compared to $504.3 million.

    Total wholesale and institutional deposits were $601.9 million as of September 30, 2024, which was a decrease of $743.4 million or 55% from $1.35 billion at December 31, 2023. Significant wholesale and institutional deposit changes by category at September 30, 2024 compared to December 31, 2023 included:

    • Wholesale and institutional savings deposits decreased $181.4 million or 46% to $213.0 million compared to $394.4 million.
    • Wholesale time deposits decreased $562.0 million or 59% to $389.0 million compared to $950.9 million.

    Provision and Allowance

    Provision and Allowance for Credit Losses for Loans
    Provision for credit losses for loans for the third quarter of 2024 was $8.9 million, an increase of $6.2 million from $2.7 million recorded in the third quarter of 2023.

    The allowance for credit losses for loans totaled $106.8 million at September 30, 2024 and $122.6 million at December 31, 2023. The following items impacted the allowance for credit losses for loans at September 30, 2024:

    • Provision expense for the nine months ended September 30, 2024, totaled $22.3 million. Provision expense was primarily impacted in the third quarter of 2024 by a nonperforming food manufacturing syndication loan currently in bankruptcy proceedings. HTLF recorded a charge-off of $19.2 million for this credit during the third quarter of 2024, of which $10.0 million was reserved for in a prior period.
    • Net charge-offs of $38.0 million, of which the majority have been reserved for in prior periods, were recorded for the first nine months of 2024.

    Provision and Allowance for Credit Losses for Unfunded Commitments
    The allowance for unfunded commitments decreased $6.0 million or 36% to $10.5 million at September 30, 2024, from $16.5 million at December 31, 2023. The following impacted HTLF’s allowance for credit losses for unfunded commitments during 2024:

    • Provision benefit for the nine months ended September 30, 2024, totaled $6.0 million.
    • Reduction of $82.9 million in unfunded commitments for construction loans, which carry the highest loss rate.
    • Total unfunded commitments decreased $684.5 million or 15% to $3.94 billion at September 30, 2024 compared to $4.63 billion at December 31, 2023.

    Total Provision and Allowance for Lending Related Credit Losses
    The total provision expense for lending related credit losses was $6.3 million for the third quarter of 2024 compared to $1.5 million for the third quarter of 2023. The total allowance for lending related credit losses was $117.3 million or 1.02% of total loans at September 30, 2024, compared to $139.0 million or 1.15% of total loans as of December 31, 2023.

    Nonperforming Assets

    Nonperforming assets were $76.8 million or 0.42% of total assets at September 30, 2024, compared to $110.5 million or 0.57% of total assets at December 31, 2023. Nonperforming assets were reduced by charge-offs of $32.1 million and the return to performing status of a $10.4 million owner occupied commercial real estate loan relationship. The reduction was partially offset by the addition of a $10.1 million non-owner commercial real estate loan relationship. Nonperforming loans were $69.9 million or 0.61% of total loans at September 30, 2024, compared to $97.9 million or 0.81% of total loans at December 31, 2023. At September 30, 2024, loans delinquent 30-89 days were 0.26% of total loans compared to 0.09% of total loans at December 31, 2023. The increase in the 30-89 day delinquencies was due to a single $12.8 million real estate construction loan. Other real estate owned, net, decreased $5.7 million or 46% to $6.8 million at September 30, 2024 from $12.5 million at December 31, 2023.

    Non-GAAP Financial Measures

    This earnings release contains references to financial measures which are not defined by generally accepted accounting principles (“GAAP”). Management believes the non-GAAP measures are helpful for investors to analyze and evaluate the company’s financial condition and operating results. However, these non-GAAP measures have inherent limitations and should not be considered a substitute for operating results determined in accordance with GAAP. Additionally, because non-GAAP measures are not standardized, it may not be possible to compare the non-GAAP measures in this earnings release with other companies’ non-GAAP measures. Reconciliations of each non-GAAP measure to the most directly comparable GAAP measure may be found in the financial tables in this earnings release.

    Below are the non-GAAP measures included in this earnings release, management’s reason for including each measure and the method of calculating each measure:

    • Adjusted earnings available to common stockholders and adjusted diluted earnings per common share, adjust net income for the gain/loss from sale of securities, and other non-operating expenses as well as the tax effect of those transactions. Management believes these measures enhance the comparability net income available to common stockholders as it reflects adjustments commonly made by management, investors and analysts to evaluate the ongoing operations and enhance comparability with the results of prior periods.
    • Adjusted annualized return on average assets, adjusts net income for the gain/loss from sale of securities, and other non-operating expenses as well as the tax effect of those transactions. Management believes this measure enhances the comparability of annualized return on average assets as it reflects adjustments commonly made by management, investors and analysts to evaluate the ongoing operations and enhance comparability with the results of prior periods.
    • Annualized net interest margin, fully tax-equivalent, adjusts net interest income for the tax-favored status of certain loans and securities. Management believes this measure enhances the comparability of net interest income arising from taxable and tax-exempt sources.
    • Adjusted efficiency ratio, fully tax equivalent, expresses noninterest expenses as a percentage of fully tax-equivalent net interest income and noninterest income. This efficiency ratio is presented on a tax-equivalent basis which adjusts net interest income and noninterest expenses for the tax favored status of certain loans, securities, and tax credit projects. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the financial results as it enhances the comparability of income and expenses arising from taxable and nontaxable sources and excludes specific items as noted in reconciliation contained in this earnings release.
    • Net interest income, fully tax equivalent, is net income adjusted for the tax-favored status of certain loans and securities. Management believes this measure enhances the comparability of net interest income arising from taxable and tax-exempt sources. Net interest margin, fully tax equivalent, is net interest income adjusted for the tax-favored status of certain loans and securities divided by average earning assets.
    • Tangible book value per common share is total common equity less goodwill and core deposit and customer relationship intangibles, net, divided by common shares outstanding, net of treasury. This measure is included as it is considered to be a critical metric to analyze and evaluate use of equity, financial condition and capital strength.
    • Tangible common equity ratio is total common equity less goodwill and core deposit and customer relationship intangibles, net, divided by total assets less goodwill and core deposit and customer relationship intangibles, net. This measure is included as it is considered to be a critical metric to analyze and evaluate financial condition and capital strength.
    • Adjusted annualized return on average common equity, adjusts net income for the loss from sale of securities, and other non-operating expenses as well as the tax effect of those transactions. Management believes this measure enhances the comparability of annualized return on average assets as it reflects adjustments commonly made by management, investors and analysts to evaluate the ongoing operations and enhance comparability with the results of prior periods.
    • Annualized return on average tangible common equity is net income excluding intangible amortization calculated as (1) net income excluding tax-effected core deposit and customer relationship intangibles amortization, divided by (2) average common equity less goodwill and core deposit and customer relationship intangibles, net. This measure is included as it is considered to be a critical metric to analyze and evaluate use of equity, financial condition and capital strength.
    • Adjusted annualized return on average tangible common equity, adjusts net income available to common stockholders for the loss from sale of securities, and other non-operating expenses as well as the tax effect of those transactions. Management believes this measure enhances the comparability of annualized return on average assets as it reflects adjustments commonly made by management, investors and analysts to evaluate the ongoing operations and enhance comparability with the results of prior periods.
    • Annualized ratio of core expenses to average assets adjusts noninterest expenses to exclude specific items noted in the reconciliation. Management includes this measure as it is considered to be a critical metric to analyze and evaluate controllable expenses related to primary business operations.

    About HTLF

    Heartland Financial USA, Inc., is a Denver, Colorado-based bank holding company operating under the brand name HTLF, with assets of $18.27 billion as of September 30, 2024. HTLF’s banks serve customers in the West, Southwest and Midwest regions. HTLF is committed to serving the banking needs of privately owned businesses, their owners, executives and employees. Our core commercial business is supported by a strong retail banking operation, in addition to a diversified line of financial services including treasury management, wealth management and investments. Additional information is available at www.htlf.com.

    Safe Harbor Statement

    This release (including any information incorporated herein by reference), and future oral and written statements of the company and its management, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the business, financial condition, results of operations, plans, objectives and future performance of HTLF.

    Any statements about the company’s expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Forward-looking statements may include information about possible or assumed future results of the company’s operations or performance. These forward-looking statements are generally identified by the use of the words such as “believe”, “expect”, “intent”, “anticipate”, “plan”, “intend”, “estimate”, “project”, “may”, “will”, “would”, “could”, “should”, “may”, “view”, “opportunity”, “potential”, or similar or negative expressions of these words or phrases that are used in this release, and future oral and written statements of the company and its management. Although the company may make these statements based on management’s experience, beliefs, expectations, assumptions and best estimate of future events, the ability of the company to predict results or the actual effect or outcomes of plans or strategies is inherently uncertain, and there may be events or factors that management has not anticipated. Therefore, the accuracy and achievement of such forward-looking statements and estimates are subject to a number of risks, many of which are beyond the ability of management to control or predict, that could cause actual results to differ materially from those in its forward-looking statements. These factors, which the company currently believes could have a material effect on its operations and future prospects, are detailed below and in the risk factors in HTLF’s reports filed with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section under Item 1A of Part I of the company’s Annual Report on Form 10-K for the year ended December 31, 2023 and updates in HTLF’s Forms 10-Q filed thereafter, and include, among others:

    • Economic and Market Conditions Risks, including risks related to the deterioration of the U.S. economy in general and in the local economies in which HTLF conducts its operations and future civil unrest, natural disasters, pandemics and governmental measures addressing them, climate change and climate-related regulations, persistent inflation, higher interest rates, supply chain issues, labor shortages, terrorist threats or acts of war;
    • Credit Risks, including risks of increasing credit losses due to deterioration in the financial condition of HTLF’s borrowers, changes in asset and collateral values due to climate and other borrower industry risks, which may impact the provision for credit losses and net charge-offs;
    • Liquidity and Interest Rate Risks, including the impact of capital market conditions, rising interest rates and changes in monetary policy on our borrowings and net interest income;
    • Risks related to the planned merger with UMB Financial Corporation (the “Merger”), the fluctuation of the market value of the merger consideration, risks related to combining our businesses, including expenses related to the Merger and integration of the combined entity, risks that the Merger may not occur, and the risk of litigation related to the Merger;
    • Operational Risks, including processing, information systems, cybersecurity, vendor, business interruption, and fraud risks;
    • Strategic and External Risks, including economic, political, and competitive forces impacting our business;
    • Legal, Compliance and Reputational Risks, including regulatory and litigation risks; and
    • Risks of Owning Stock in HTLF, including stock price volatility and dilution as a result of future equity offerings and acquisitions.

    There can be no assurance that other factors not currently anticipated by HTLF will not materially and adversely affect HTLF’s business, financial condition and results of operations. Additionally, all statements in this release, including forward-looking statements speak only as of the date they are made. HTLF does not undertake and specifically disclaims any obligation to publicly release the results of any revisions which may be made to or correct or update any forward-looking statement to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events or to otherwise update any statement in light of new information or future events. Further information concerning HTLF and its business, including additional factors that could materially affect HTLF’s financial results, is included in HTLF’s filings with the SEC.

    -FINANCIAL TABLES FOLLOW-

    CONTACT:
    Kevin L. Thompson
    Executive Vice President
    Chief Financial Officer
    (563) 589-1994
    kthompson@htlf.com 
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
    September 30,    		   For the Nine Months Ended
    September 30,
        2024       2023       2024       2023  
    Interest Income              
    Interest and fees on loans $ 192,506     $ 182,394     $ 587,328     $ 505,136  
    Interest on securities:              
    Taxable   51,116       54,800       145,511       168,948  
    Nontaxable   5,979       6,584       18,062       18,990  
    Interest on federal funds sold   —       3       —       3  
    Interest on deposits with other banks and short-term investments   4,193       1,651       10,244       4,833  
    Total Interest Income   253,794       245,432       761,145       697,910  
    Interest Expense              
    Interest on deposits   82,976       92,744       247,609       231,617  
    Interest on borrowings   7,378       1,167       25,727       4,437  
    Interest on term debt   5,543       5,765       16,956       16,756  
    Total Interest Expense   95,897       99,676       290,292       252,810  
    Net Interest Income   157,897       145,756       470,853       445,100  
    Provision for credit losses   6,276       1,516       16,270       9,969  
    Net Interest Income After Provision for Credit Losses   151,621       144,240       454,583       435,131  
    Noninterest Income              
    Service charges and fees   17,100       18,553       51,127       55,316  
    Loan servicing income   111       278       349       1,403  
    Trust fees   5,272       4,734       15,847       15,810  
    Brokerage and insurance commissions   853       692       2,501       2,065  
    Capital markets fees   2,116       1,845       5,003       8,331  
    Securities gains (losses), net   (9,520 )     (114 )     (19,573 )     (1,532 )
    Unrealized gain on equity securities, net   377       13       605       165  
    Net gains on sale of loans held for sale   —       905       104       3,786  
    Income on bank owned life insurance   1,107       858       3,610       3,042  
    Other noninterest income   1,576       619       5,289       2,489  
    Total Noninterest Income   18,992       28,383       64,862       90,875  
    Noninterest Expense              
    Salaries and employee benefits   62,742       62,262       191,817       186,510  
    Occupancy   6,318       6,438       19,843       20,338  
    Furniture and equipment   2,062       2,720       6,554       8,698  
    Professional fees   17,448       13,616       48,351       41,607  
    FDIC insurance assessments   3,035       3,313       11,344       9,627  
    Advertising   1,937       1,633       4,663       6,670  
    Core deposit intangibles amortization   1,345       1,625       4,258       5,128  
    Other real estate and loan collection expenses, net   395       481       1,422       984  
    (Gain) loss on sales/valuations of assets, net   (26,419 )     108       (26,012 )     (2,149 )
    Acquisition, integration and restructuring costs   2,026       2,429       9,374       5,994  
    Partnership investment in tax credit projects   222       1,136       938       1,828  
    Other noninterest expense   14,816       15,292       43,214       46,307  
    Total Noninterest Expense   85,927       111,053       315,766       331,542  
    Income Before Income Taxes   84,686       61,570       203,679       194,464  
    Income taxes   20,533       13,479       48,077       44,181  
    Net Income/(Loss)   64,153       48,091       155,602       150,283  
    Preferred dividends   (2,013 )     (2,013 )     (6,038 )     (6,038 )
    Net Income/(Loss) Available to Common Stockholders $ 62,140     $ 46,078     $ 149,564     $ 144,245  
    Earnings/(loss) per common share-diluted $ 1.44     $ 1.08     $ 3.47     $ 3.37  
    Weighted average shares outstanding-diluted   43,195,257       42,812,563       43,080,422       42,769,872  
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Interest Income                  
    Interest and fees on loans $ 192,506     $ 199,161     $ 195,661     $ 192,861     $ 182,394  
    Interest on securities:                  
    Taxable   51,116       47,381       47,014       54,573       54,800  
    Nontaxable   5,979       6,042       6,041       6,278       6,584  
    Interest on federal funds sold   —       —       —       —       3  
    Interest on deposits with other banks and short-term investments   4,193       3,045       3,006       2,174       1,651  
    Total Interest Income   253,794       255,629       251,722       255,886       245,432  
    Interest Expense                  
    Interest on deposits   82,976       80,499       84,134       88,071       92,744  
    Interest on borrowings   7,378       10,825       7,524       5,874       1,167  
    Interest on term debt   5,543       5,564       5,849       5,804       5,765  
    Total Interest Expense   95,897       96,888       97,507       99,749       99,676  
    Net Interest Income   157,897       158,741       154,215       156,137       145,756  
    Provision for credit losses   6,276       9,008       986       11,738       1,516  
    Net Interest Income After Provision for Credit Losses   151,621       149,733       153,229       144,399       144,240  
    Noninterest Income                  
    Service charges and fees   17,100       16,964       17,063       18,708       18,553  
    Loan servicing income   111       107       131       158       278  
    Trust fees   5,272       5,532       5,043       4,905       4,734  
    Brokerage and insurance commissions   853       894       754       729       692  
    Capital markets fees   2,116       1,996       891       1,676       1,845  
    Securities gains (losses), net   (9,520 )     (10,111 )     58       (140,007 )     (114 )
    Unrealized gain on equity securities, net   377       133       95       75       13  
    Net gains on sale of loans held for sale   —       —       104       94       905  
    Income on bank owned life insurance   1,107       1,326       1,177       729       858  
    Other noninterest income   1,576       1,366       2,347       1,132       619  
    Total Noninterest Income   18,992       18,207       27,663       (111,801 )     28,383  
    Noninterest Expense                  
    Salaries and employee benefits   62,742       65,120       63,955       64,766       62,262  
    Occupancy   6,318       6,262       7,263       6,509       6,438  
    Furniture and equipment   2,062       2,155       2,337       2,901       2,720  
    Professional fees   17,448       15,372       15,531       17,060       13,616  
    FDIC insurance assessments   3,035       3,340       4,969       10,313       3,313  
    Advertising   1,937       1,368       1,358       1,677       1,633  
    Core deposit intangibles amortization   1,345       1,421       1,492       1,611       1,625  
    Other real estate and loan collection expenses, net   395       515       512       505       481  
    (Gain) loss on sales/valuations of assets, net   (26,419 )     193       214       2,072       108  
    Acquisition, integration and restructuring costs   2,026       5,973       1,375       4,365       2,429  
    Partnership investment in tax credit projects   222       222       494       3,573       1,136  
    Other noninterest expense   14,816       14,303       14,095       14,933       15,292  
    Total Noninterest Expense   85,927       116,244       113,595       130,285       111,053  
    Income Before Income Taxes   84,686       51,696       67,297       (97,687 )     61,570  
    Income taxes   20,533       11,954       15,590       (27,324 )     13,479  
    Net Income/(Loss)   64,153       39,742       51,707       (70,363 )     48,091  
    Preferred dividends   (2,013 )     (2,012 )     (2,013 )     (2,012 )     (2,013 )
    Net Income/(Loss) Available to Common Stockholders $ 62,140     $ 37,730     $ 49,694     $ (72,375 )   $ 46,078  
    Earnings/(loss) per common share-diluted $ 1.44     $ 0.88     $ 1.16     $ (1.69 )   $ 1.08  
    Weighted average shares outstanding-diluted   43,195,257       43,060,354       42,915,768       42,838,405       42,812,563  
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      As of
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Assets                  
    Cash and due from banks $ 228,719     $ 226,735     $ 208,176     $ 275,554     $ 248,756  
    Interest-bearing deposits with other banks and short-term investments   359,675       147,211       236,190       47,459       99,239  
    Cash and cash equivalents   588,394       373,946       444,366       323,013       347,995  
    Time deposits in other financial institutions   1,050       1,340       1,240       1,240       1,490  
    Securities:                  
    Carried at fair value   4,057,335       4,185,054       4,418,222       4,646,891       5,482,687  
    Held to maturity, at cost   839,623       842,980       841,055       838,241       835,468  
    Other investments, at cost   69,511       70,684       68,524       91,277       90,001  
    Loans held for sale   —       348,761       352,744       5,071       6,262  
    Loans:                  
    Held to maturity   11,440,917       11,608,309       11,644,641       12,068,645       11,872,436  
    Allowance for credit losses   (106,797 )     (126,861 )     (123,934 )     (122,566 )     (110,208 )
    Loans, net   11,334,120       11,481,448       11,520,707       11,946,079       11,762,228  
    Premises, furniture and equipment, net   155,140       175,953       176,582       181,070       187,436  
    Goodwill   576,005       576,005       576,005       576,005       576,005  
    Core deposit intangibles, net   14,157       15,501       16,923       18,415       20,026  
    Cash surrender value on life insurance   199,998       199,036       197,671       197,085       196,694  
    Other real estate, net   6,805       7,533       2,590       12,548       14,362  
    Other assets   430,155       534,429       516,198       574,772       609,139  
    Total Assets $ 18,272,293     $ 18,812,670     $ 19,132,827     $ 19,411,707     $ 20,129,793  
    Liabilities and Equity                  
    Liabilities                  
    Deposits:                  
    Demand $ 4,009,218     $ 4,244,169     $ 4,264,390     $ 4,500,304     $ 4,792,813  
    Savings   8,926,192       8,470,416       8,669,221       8,805,597       8,754,911  
    Time   2,017,806       2,242,005       2,368,555       2,895,813       3,553,269  
    Total deposits   14,953,216       14,956,590       15,302,166       16,201,714       17,100,993  
    Deposits held for sale   —       538,308       596,328       —       —  
    Borrowings   546,219       694,909       650,033       622,255       392,634  
    Term debt   373,324       372,988       372,652       372,396       372,059  
    Accrued expenses and other liabilities   259,161       222,025       232,815       282,225       438,577  
    Total Liabilities   16,131,920       16,784,820       17,153,994       17,478,590       18,304,263  
    Stockholders’ Equity                  
    Preferred equity   110,705       110,705       110,705       110,705       110,705  
    Common stock   42,884       42,852       42,784       42,688       42,656  
    Capital surplus   1,098,837       1,096,619       1,093,207       1,090,740       1,088,267  
    Retained earnings   1,252,247       1,203,092       1,178,330       1,141,501       1,226,740  
    Accumulated other comprehensive income/(loss)   (364,300 )     (425,418 )     (446,193 )     (452,517 )     (642,838 )
    Total Equity   2,140,373       2,027,850       1,978,833       1,933,117       1,825,530  
    Total Liabilities and Equity $ 18,272,293     $ 18,812,670     $ 19,132,827     $ 19,411,707     $ 20,129,793  
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Average Balances                  
    Assets $ 18,439,910     $ 19,043,362     $ 19,296,638     $ 19,667,825     $ 20,207,920  
    Loans, net of unearned   11,584,999       12,010,289       12,021,930       11,938,272       11,800,064  
    Total deposits   15,148,944       15,562,920       16,042,402       16,709,394       17,507,813  
    Customer deposits   14,347,965       14,768,407       14,816,652       14,969,948       14,699,235  
    Earning assets   16,838,131       17,331,435       17,597,068       17,853,957       18,439,010  
    Interest-bearing liabilities   11,986,220       12,461,957       12,607,745       12,721,680       13,158,631  
    Common equity   1,962,334       1,863,236       1,832,959       1,729,086       1,746,818  
    Total stockholders’ equity   2,073,039       1,973,941       1,943,664       1,839,791       1,857,523  
    Tangible common equity (non-GAAP)(1)   1,371,515       1,271,046       1,239,313       1,133,888       1,149,992  
                       
    Key Performance Ratios                  
    Annualized return on average assets   1.38 %     0.84 %     1.08 %   (1.42 )%     0.94 %
    Adjusted annualized return on average assets (non-GAAP)(1)   1.14       1.09       1.13       0.96       0.98  
    Annualized return on average common equity (GAAP)   12.60       8.14       10.90       (16.61 )     10.47  
    Adjusted annualized return on average common equity (non-GAAP)(1)   10.27       10.71       11.50       10.46       10.92  
    Annualized return on average tangible common equity (non-GAAP)(1)   18.32       12.28       16.49       (24.89 )     16.32  
    Adjusted annualized return on average tangible common equity (non-GAAP)(1)   14.98       16.05       17.38       16.38       17.02  
    Annualized ratio of net charge-offs/(recoveries) to average loans   0.99       0.23       0.08       0.01       0.12  
    Annualized net interest margin (GAAP)   3.73       3.68       3.52       3.47       3.14  
    Annualized net interest margin, fully tax-equivalent (non-GAAP)(1)   3.78       3.73       3.57       3.52       3.18  
    Annualized cost of deposits   2.18       2.08       2.11       2.09       2.10  
    Efficiency ratio (GAAP)   48.58       65.69       62.46       293.86       63.77  
    Adjusted efficiency ratio, fully tax-equivalent (non-GAAP)(1)   57.98       57.73       58.77       59.31       59.95  
    Annualized ratio of total noninterest expenses to average assets (GAAP)   1.85       2.46       2.37       2.63       2.18  
    Annualized ratio of core expenses to average assets (non-GAAP)(1)   2.35       2.30       2.25       2.23       2.08  
                       
      For the Quarter Ended
    September 30,    		   For the Nine Months Ended
    September 30,
        2024       2023       2024       2023  
    Average Balances              
    Assets $ 18,439,910     $ 20,207,920     $ 18,924,862     $ 20,182,808  
    Loans, net of unearned   11,584,999       11,800,064       11,871,358       11,602,741  
    Total deposits   15,148,944       17,507,813       15,583,165       17,567,614  
    Customer deposits   14,347,965       14,699,235       14,642,347       14,778,030  
    Earning assets   16,838,131       18,439,010       17,254,023       18,451,907  
    Interest-bearing liabilities   11,986,220       13,158,631       12,350,640       12,985,665  
    Common equity   1,962,334       1,746,818       1,886,454       1,710,230  
    Total stockholders’ equity   2,073,039       1,857,523       1,997,159       1,820,935  
    Tangible common equity (non-GAAP)(1)   1,371,515       1,149,992       1,294,241       1,111,724  
                   
    Key Performance Ratios              
    Annualized return on average assets   1.38 %     0.94 %     1.10 %     1.00 %
    Adjusted annualized return on average assets (non-GAAP)(1)   1.14       0.98       1.12       1.02  
    Annualized return on average common equity (GAAP)   12.60       10.47       10.59       11.28  
    Adjusted annualized return on average common equity (non-GAAP)(1)   10.27       10.92       10.81       11.60  
    Annualized return on average tangible common equity (non-GAAP)(1)   18.32       16.32       15.77       17.82  
    Adjusted annualized return on average tangible common equity (non-GAAP)(1)   14.98       17.02       16.09       18.31  
    Annualized ratio of net charge-offs/(recoveries) to average loans   0.99       0.12       0.43       0.14  
    Annualized net interest margin (GAAP)   3.73       3.14       3.65       3.23  
    Annualized net interest margin, fully tax-equivalent (non-GAAP)(1)   3.78       3.18       3.69       3.27  
    Annualized cost of deposits   2.18       2.10       2.12       1.76  
    Efficiency ratio (GAAP)   48.58       63.77       58.94       61.86  
    Adjusted efficiency ratio, fully tax-equivalent (non-GAAP)(1)   57.98       59.95       58.16       58.98  
    Annualized ratio of total noninterest expenses to average assets (GAAP)   1.85       2.18       2.23       2.20  
    Annualized ratio of core expenses to average assets (non-GAAP)(1)   2.35       2.08       2.30       2.12  
                   
    (1) Refer to “Non-GAAP Measures” in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to these financial tables for the reconciliations to the most directly comparable GAAP measures.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE AND FULL TIME EQUIVALENT EMPLOYEE DATA
      As of and for the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Common Share Data                  
    Book value per common share $ 47.33     $ 44.74     $ 43.66     $ 42.69     $ 40.20  
    Tangible book value per common share (non-GAAP)(1)   33.57       30.94       29.81       28.77       26.23  
    ASC 320 effect on book value per common share   (8.78 )     (10.82 )     (11.18 )     (11.00 )     (16.27 )
                       
    Common shares outstanding, net of treasury stock   42,883,865       42,852,180       42,783,670       42,688,008       42,656,303  
                       
    Capital Ratios                  
    Common equity to total assets   11.11 %     10.19 %     9.76 %     9.39 %     8.52 %
    Tangible common equity ratio (non-GAAP)(1)   8.14       7.28       6.88       6.53       5.73  
    Tier 1 leverage ratio   10.77       10.13       9.84       9.44       9.59  
    Common equity tier 1 ratio(2)   12.66       11.68       11.40       10.97       11.37  
    Total risk based capital ratio(2)   16.34       15.32       14.99       14.53       14.90  
                       
    Other Selected Trend Information                  
    Effective tax rate   24.25 %     23.12 %     23.17 %     27.97 %     21.89 %
    Full time equivalent employees   1,725       1,843       1,888       1,970       1,965  
                       
    Loans Held to Maturity                  
    Commercial and industrial $ 3,503,093     $ 3,541,239     $ 3,545,051     $ 3,652,047     $ 3,591,809  
    Paycheck Protection Program (“PPP”)   1,582       1,864       2,172       2,777       3,750  
    Owner occupied commercial real estate   2,489,697       2,555,964       2,545,033       2,638,175       2,429,659  
    Commercial and business lending   5,994,372       6,099,067       6,092,256       6,292,999       6,025,218  
    Non-owner occupied commercial real estate   2,455,396       2,434,258       2,495,068       2,553,711       2,656,358  
    Real estate construction   1,119,922       1,082,726       1,041,583       1,011,716       1,029,554  
    Commercial real estate lending   3,575,318       3,516,984       3,536,651       3,565,427       3,685,912  
    Total commercial lending   9,569,690       9,616,051       9,628,907       9,858,426       9,711,130  
    Agricultural and agricultural real estate   701,211       802,958       809,876       919,184       842,116  
    Residential mortgage   707,984       733,401       756,021       797,829       813,803  
    Consumer   462,032       455,899       449,837       493,206       505,387  
    Total loans held to maturity $ 11,440,917     $ 11,608,309     $ 11,644,641     $ 12,068,645     $ 11,872,436  
                       
    Total unfunded loan commitments $ 3,941,268     $ 4,381,565     $ 4,537,718     $ 4,625,768     $ 4,813,798  
                       
    Deposits                  
    Demand-customer $ 4,009,218     $ 4,244,169     $ 4,264,390     $ 4,500,304     $ 4,792,813  
    Savings-customer   8,713,228       8,151,794       8,269,956       8,411,240       8,190,430  
    Savings-wholesale and institutional   212,964       318,622       399,265       394,357       564,481  
    Total savings   8,926,192       8,470,416       8,669,221       8,805,597       8,754,911  
    Time-customer   1,628,856       1,737,723       1,734,971       1,944,884       1,814,335  
    Time-wholesale   388,950       504,282       633,584       950,929       1,738,934  
    Total time   2,017,806       2,242,005       2,368,555       2,895,813       3,553,269  
    Total deposits $ 14,953,216     $ 14,956,590     $ 15,302,166     $ 16,201,714     $ 17,100,993  
                       
    Total customer deposits $ 14,351,302     $ 14,133,686     $ 14,269,317     $ 14,856,428     $ 14,797,578  
    Total wholesale and institutional deposits   601,914       822,904       1,032,849       1,345,286       2,303,415  
    Total deposits $ 14,953,216     $ 14,956,590     $ 15,302,166     $ 16,201,714     $ 17,100,993  
                       
    (1) Refer to “Non-GAAP Measures” in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to these financial tables for the reconciliations to the most directly comparable GAAP measures.
    (2) September 30, 2024 calculation is preliminary.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      As of and for the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Allowance for Credit Losses-Loans                  
    Balance, beginning of period $ 126,861     $ 123,934     $ 122,566     $ 110,208     $ 111,198  
    Provision for credit losses   8,871       9,737       3,668       12,750       2,672  
    Charge-offs   (32,137 )     (7,388 )     (4,093 )     (3,886 )     (3,964 )
    Recoveries   3,202       578       1,793       3,494       302  
    Balance, end of period $ 106,797     $ 126,861     $ 123,934     $ 122,566     $ 110,208  
                       
    Allowance for Unfunded Commitments                  
    Balance, beginning of period $ 13,057     $ 13,786     $ 16,468     $ 17,480     $ 18,636  
    Provision for credit losses   (2,595 )     (729 )     (2,682 )     (1,012 )     (1,156 )
    Balance, end of period $ 10,462     $ 13,057     $ 13,786     $ 16,468     $ 17,480  
                       
    Allowance for lending related credit losses $ 117,259     $ 139,918     $ 137,720     $ 139,034     $ 127,688  
                       
    Provision for Credit Losses                  
    Provision for credit losses-loans $ 8,871     $ 9,737     $ 3,668     $ 12,750     $ 2,672  
    Provision for credit losses-unfunded commitments   (2,595 )     (729 )     (2,682 )     (1,012 )     (1,156 )
    Total provision (benefit) for credit losses $ 6,276     $ 9,008     $ 986     $ 11,738     $ 1,516  
                       
    Asset Quality                  
    Nonaccrual loans $ 69,115     $ 103,123     $ 94,800     $ 95,426     $ 51,304  
    Loans past due ninety days or more   832       663       611       2,507       511  
    Other real estate owned   6,805       7,533       2,590       12,548       14,362  
    Other repossessed assets   —       —       —       —       1  
    Total nonperforming assets $ 76,752     $ 111,319     $ 98,001     $ 110,481     $ 66,178  
                       
    Nonperforming Assets Activity                  
    Balance, beginning of period $ 111,319     $ 98,001     $ 110,481     $ 66,178     $ 66,097  
    Net loan (charge-offs) recoveries   (28,935 )     (6,810 )     (2,300 )     (392 )     (3,662 )
    New nonperforming loans   25,441       48,346       5,470       61,193       19,295  
    Reduction of nonperforming loans(1)   (30,240 )     (28,050 )     (5,692 )     (14,278 )     (14,691 )
    OREO/Repossessed assets sales proceeds   (833 )     (168 )     (9,958 )     (2,220 )     (861 )
    Balance, end of period $ 76,752     $ 111,319     $ 98,001     $ 110,481     $ 66,178  
                       
    Asset Quality Ratios                  
    Ratio of nonperforming loans to total loans   0.61 %     0.89 %     0.82 %     0.81 %     0.44 %
    Ratio of nonperforming assets to total assets   0.42       0.59       0.51       0.57       0.33  
    Annualized ratio of net loan charge-offs (recoveries) to average loans   0.99       0.23       0.08       0.01       0.12  
    Allowance for loan credit losses as a percent of loans   0.93       1.09       1.06       1.02       0.93  
    Allowance for lending related credit losses as a percent of loans   1.02       1.21       1.18       1.15       1.08  
    Allowance for loan credit losses as a percent of nonperforming loans   152.68       122.23       129.89       125.15       212.70  
    Loans delinquent 30-89 days as a percent of total loans   0.26       0.25       0.31       0.09       0.12  
                       
    (1) Includes principal reductions, transfers to performing status and transfers to OREO.
    HEARTLAND FINANCIAL USA, INC.    
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS
      For the Quarter Ended
      September 30, 2024   June 30, 2024   September 30, 2023
      Average
    Balance    		   Interest   Rate   Average
    Balance    		   Interest   Rate   Average
    Balance    		   Interest   Rate
    Earning Assets                                  
    Securities:                                  
    Taxable $ 4,254,529     $ 51,116   4.78 %   $ 4,490,407     $ 47,381   4.24 %   $ 5,726,057     $ 54,800   3.80 %
    Nontaxable(1)   768,483       7,313   3.79       759,234       7,383   3.91       881,162       8,085   3.64  
    Total securities   5,023,012       58,429   4.63       5,249,641       54,764   4.20       6,607,219       62,885   3.78  
    Interest on deposits with other banks and
    short-term investments    		   355,394       4,193   4.69       194,824       3,045   6.29       142,301       1,651   4.60  
    Federal funds sold   —       —   —       —       —   —       152       3   7.83  
    Loans:(2)                                  
    Commercial and industrial(1)   3,531,206       65,972   7.43       3,638,004       69,469   7.68       3,610,677       63,001   6.92  
    PPP loans   1,759       5   1.13       2,242       7   1.26       3,948       11   1.11  
    Owner occupied commercial real estate   2,527,006       35,189   5.54       2,615,504       37,028   5.69       2,412,501       30,127   4.95  
    Non-owner occupied commercial real estate   2,474,036       39,536   6.36       2,519,346       39,272   6.27       2,586,011       38,779   5.95  
    Real estate construction   1,106,387       22,878   8.23       1,093,399       21,770   8.01       1,027,544       19,448   7.51  
    Agricultural and agricultural real estate   757,745       11,536   6.06       879,707       13,390   6.12       822,957       12,582   6.07  
    Residential real estate   725,901       9,110   4.99       776,821       9,454   4.89       827,402       9,482   4.55  
    Consumer   460,959       8,956   7.73       485,266       9,421   7.81       509,024       9,615   7.49  
    Less: allowance for credit losses   (125,274 )     —   —       (123,319 )     —   —       (110,726 )     —   —  
    Net loans   11,459,725       193,182   6.71       11,886,970       199,811   6.76       11,689,338       183,045   6.21  
    Total earning assets   16,838,131       255,804   6.04 %     17,331,435       257,620   5.98 %     18,439,010       247,584   5.33 %
    Nonearning Assets   1,601,779               1,711,927               1,768,910          
    Total Assets $ 18,439,910             $ 19,043,362             $ 20,207,920          
    Interest-bearing Liabilities                                  
    Savings $ 8,842,494     $ 59,307   2.67 %   $ 8,834,746     $ 55,440   2.52 %   $ 8,737,581     $ 49,195   2.23 %
    Time deposits   2,189,861       23,669   4.30       2,372,653       25,059   4.25       3,945,371       43,549   4.38  
    Borrowings   580,707       7,378   5.05       881,738       10,825   4.94       103,567       1,167   4.47  
    Term debt   373,158       5,543   5.91       372,820       5,564   6.00       372,112       5,765   6.15  
    Total interest-bearing liabilities   11,986,220       95,897   3.18 %     12,461,957       96,888   3.13 %     13,158,631       99,676   3.01 %
    Noninterest-bearing Liabilities                                  
    Noninterest-bearing deposits   4,116,589               4,355,521               4,824,861          
    Accrued interest and other liabilities   264,062               251,943               366,905          
    Total noninterest-bearing liabilities   4,380,651               4,607,464               5,191,766          
    Stockholders’ Equity   2,073,039               1,973,941               1,857,523          
    Total Liabilities and Stockholders’ Equity $ 18,439,910             $ 19,043,362             $ 20,207,920          
    Net interest income, fully tax-equivalent
    (non-GAAP)    (1)(3)    		     $ 159,907           $ 160,732           $ 147,908    
    Net interest spread(1)         2.86 %           2.85 %           2.32 %
    Net interest income, fully tax-equivalent
    (non-GAAP    )(1)(3)to total earning assets    		         3.78 %           3.73 %           3.18 %
    Interest-bearing liabilities to earning assets   71.18 %             71.90 %             71.36 %        
                                       
    (1) Computed on a tax-equivalent basis using an effective tax rate of 21%.    
    (2) Nonaccrual loans and loans held for sale are included in the average loans outstanding.
    (3) Refer to “Non-GAAP Measures” in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to these financial tables for the reconciliations to the most directly comparable GAAP measures.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS
      For the Nine Months Ended
      September 30, 2024   September 30, 2023
      Average
    Balance    		   Interest   Rate   Average
    Balance    		   Interest   Rate
    Earning Assets                      
    Securities:                      
    Taxable $ 4,469,258     $ 145,511   4.35 %   $ 5,927,026     $ 168,948   3.81 %
    Nontaxable(1)   768,782       22,079   3.84       899,613       23,611   3.51  
    Total securities   5,238,040       167,590   4.27       6,826,639       192,559   3.77  
    Interest on deposits with other banks and other short-term investments   268,122       10,244   5.10       133,910       4,833   4.83  
    Federal funds sold   —       —   —       51       3   7.86  
    Loans:(2)                      
    Commercial and industrial(1)   3,603,668       202,426   7.50       3,547,256       169,552   6.39  
    PPP loans   2,195       19   1.16       6,718       61   1.21  
    Owner occupied commercial real estate   2,583,886       107,734   5.57       2,355,545       84,927   4.82  
    Non-owner occupied commercial real estate   2,514,452       118,657   6.30       2,459,965       105,111   5.71  
    Real estate construction   1,087,280       65,497   8.05       1,051,298       56,107   7.14  
    Agricultural and agricultural real estate   838,395       38,682   6.16       835,673       36,191   5.79  
    Residential mortgage   764,515       28,699   5.01       840,143       28,138   4.48  
    Consumer   476,967       27,578   7.72       506,143       26,925   7.11  
    Less: allowance for credit losses-loans   (123,497 )     —   —       (111,434 )     —   —  
    Net loans   11,747,861       589,292   6.70       11,491,307       507,012   5.90  
    Total earning assets   17,254,023       767,126   5.94 %     18,451,907       704,407   5.10 %
    Nonearning Assets   1,670,839               1,730,901          
    Total Assets $ 18,924,862             $ 20,182,808          
    Interest-bearing Liabilities                      
    Savings $ 8,828,973     $ 169,414   2.56 %   $ 9,130,980     $ 128,372   1.88 %
    Time deposits   2,447,293       78,195   4.27       3,344,434       103,245   4.13  
    Borrowings   701,548       25,727   4.90       138,157       4,437   4.29  
    Term debt   372,826       16,956   6.08       372,094       16,756   6.02  
    Total interest-bearing liabilities   12,350,640       290,292   3.14 %     12,985,665       252,810   2.60 %
    Noninterest-bearing Liabilities                      
    Noninterest-bearing deposits   4,306,899               5,092,200          
    Accrued interest and other liabilities   270,164               284,008          
    Total noninterest-bearing liabilities   4,577,063               5,376,208          
    Stockholders’ Equity   1,997,159               1,820,935          
    Total Liabilities and Stockholders’ Equity $ 18,924,862             $ 20,182,808          
    Net interest income, fully tax-equivalent (non-GAAP)(1)(3)     $ 476,834           $ 451,597    
    Net interest spread(1)         2.80 %           2.50 %
    Net interest income, fully tax-equivalent (non-GAAP)(1)(3)to total earning assets         3.69 %           3.27 %
    Interest-bearing liabilities to earning assets   71.58 %             70.38 %        
                           
    (1) Computed on a tax-equivalent basis using an effective tax rate of 21%.    
    (2) Nonaccrual loans and loans held for sale are included in the average loans outstanding.
    (3) Refer to “Non-GAAP Measures” in this earnings release for additional information on the usage and presentation of these non-GAAP measures, and refer to these financial tables for the reconciliations to the most directly comparable GAAP measures.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA AND FULL TIME EQUIVALENT EMPLOYEE DATA
      For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Reconciliation of Annualized Return on Average Tangible Common Equity (non-GAAP)                  
    Earnings available to common stockholders (GAAP) $ 62,140     $ 37,730     $ 49,694     $ (72,375 )   $ 46,078  
    Plus core deposit intangibles amortization, net of tax(2)   1,022       1,081       1,131       1,229       1,240  
    Earnings available to common stockholders excluding intangible amortization (non-GAAP) $ 63,162     $ 38,811     $ 50,825     $ (71,146 )   $ 47,318  
                       
    Average common equity (GAAP) $ 1,962,334     $ 1,863,236     $ 1,832,959     $ 1,729,086     $ 1,746,818  
    Less average goodwill   576,005       576,005       576,005       576,005       576,005  
    Less average core deposit intangibles, net   14,814       16,185       17,641       19,193       20,821  
    Average tangible common equity (non-GAAP) $ 1,371,515     $ 1,271,046     $ 1,239,313     $ 1,133,888     $ 1,149,992  
    Annualized return on average common equity (GAAP)   12.60 %     8.14 %     10.90 %   (16.61 )%     10.47 %
    Annualized return on average tangible common equity (non-GAAP)   18.32 %     12.28 %     16.49 %   (24.89 )%     16.32 %
                       
    Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)                  
    Net Interest Income (GAAP) $ 157,897     $ 158,741     $ 154,215     $ 156,137     $ 145,756  
    Plus tax-equivalent adjustment(1)   2,010       1,991       1,981       2,058       2,152  
    Net interest income, fully tax-equivalent (non-GAAP) $ 159,907     $ 160,732     $ 156,196     $ 158,195     $ 147,908  
                       
    Average earning assets $ 16,838,131     $ 17,331,435     $ 17,597,068     $ 17,853,957     $ 18,439,010  
                       
    Annualized net interest margin (GAAP)   3.73 %     3.68 %     3.52 %     3.47 %     3.14 %
    Annualized net interest margin, fully tax-equivalent (non-GAAP)   3.78       3.73       3.57       3.52       3.18  
    Net purchase accounting discount amortization on loans included in annualized net interest margin   0.02       0.01       0.02       0.02       0.01  
    Reconciliation of Tangible Book Value Per Common Share (non-GAAP)                  
    Common equity (GAAP) $ 2,029,668     $ 1,917,145     $ 1,868,128     $ 1,822,412     $ 1,714,825  
    Less goodwill   576,005       576,005       576,005       576,005       576,005  
    Less core deposit intangibles, net   14,157       15,501       16,923       18,415       20,026  
    Tangible common equity (non-GAAP) $ 1,439,506     $ 1,325,639     $ 1,275,200     $ 1,227,992     $ 1,118,794  
                       
    Common shares outstanding, net of treasury stock   42,883,865       42,852,180       42,783,670       42,688,008       42,656,303  
    Common equity (book value) per share (GAAP) $ 47.33     $ 44.74     $ 43.66     $ 42.69     $ 40.20  
    Tangible book value per common share (non-GAAP) $ 33.57     $ 30.94     $ 29.81     $ 28.77     $ 26.23  
                       
    Reconciliation of Tangible Common Equity Ratio (non-GAAP)                  
    Tangible common equity (non-GAAP) $ 1,439,506     $ 1,325,639     $ 1,275,200     $ 1,227,992     $ 1,118,794  
                       
    Total assets (GAAP) $ 18,272,293     $ 18,812,670     $ 19,132,827     $ 19,411,707     $ 20,129,793  
    Less goodwill   576,005       576,005       576,005       576,005       576,005  
    Less core deposit intangibles, net   14,157       15,501       16,923       18,415       20,026  
    Total tangible assets (non-GAAP) $ 17,682,131     $ 18,221,164     $ 18,539,899     $ 18,817,287     $ 19,533,762  
    Tangible common equity ratio (non-GAAP)   8.14 %     7.28 %     6.88 %     6.53 %     5.73 %
                       
    (1) Computed on a tax-equivalent basis using an effective tax rate of 21%.
    (2) Tax effect is calculated based on the respective periods’ year-to-date effective tax rate excluding the impact of discrete items.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
    9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Reconciliation of Adjusted Efficiency Ratio, fully tax-equivalent (non-GAAP)  
    Net interest income (GAAP) $ 157,897     $ 158,741     $ 154,215     $ 156,137     $ 145,756  
    Tax-equivalent adjustment(1)   2,010       1,991       1,981       2,058       2,152  
    Fully tax-equivalent net interest income   159,907       160,732       156,196       158,195       147,908  
    Noninterest income   18,992       18,207       27,663       (111,801 )     28,383  
    Securities (gains)/losses, net   9,520       10,111       (58 )     140,007       114  
    Unrealized gain on equity securities, net   (377 )     (133 )     (95 )     (75 )     (13 )
    Adjusted revenue (non-GAAP) $ 188,042     $ 188,917     $ 183,706     $ 186,326     $ 176,392  
                       
    Total noninterest expenses (GAAP) $ 85,927     $ 116,244     $ 113,595     $ 130,285     $ 111,053  
    Less:                  
    Core deposit intangibles amortization   1,345       1,421       1,492       1,611       1,625  
    Partnership investment in tax credit projects   222       222       494       3,573       1,136  
    (Gain) loss on sales/valuation of assets, net   (26,419 )     193       214       2,072       108  
    Acquisition, integration and restructuring costs   2,026       5,973       1,375       4,365       2,429  
    FDIC special assessment   (267 )     (631 )     2,049       8,145       —  
    Core expenses (non-GAAP) $ 109,020     $ 109,066     $ 107,971     $ 110,519     $ 105,755  
                       
    Efficiency ratio (GAAP)   48.58 %     65.69 %     62.46 %     293.86 %     63.77 %
    Adjusted efficiency ratio, fully tax-equivalent (non-GAAP)   57.98 %     57.73 %     58.77 %     59.31 %     59.95 %
                       
    Reconciliation of Annualized Ratio of Core Expenses to Average Assets (non-GAAP)                  
    Total noninterest expenses (GAAP) $ 85,927     $ 116,244     $ 113,595     $ 130,285     $ 111,053  
    Core expenses (non-GAAP)   109,020       109,066       107,971       110,519       105,755  
                       
    Average assets $ 18,439,910     $ 19,043,362     $ 19,296,638     $ 19,667,825     $ 20,207,920  
    Total noninterest expenses to average assets (GAAP)   1.85 %     2.46 %     2.37 %     2.63 %     2.18 %
    Core expenses to average assets (non-GAAP)   2.35 %     2.30 %     2.25 %     2.23 %     2.08 %
                       
    Acquisition, integration and restructuring costs                  
    Salaries and employee benefits $ 58     $ 462     $ 168     $ 1,425     $ 94  
    Occupancy   —       —       —       1,092       —  
    Furniture and equipment   52       53       —       19       —  
    Professional fees   1,674       5,385       931       793       1,617  
    Advertising   —       —       —       28       178  
    Other noninterest expenses   242       73       276       1,008       540  
    Total acquisition, integration and restructuring costs $ 2,026     $ 5,973     $ 1,375     $ 4,365     $ 2,429  
                       
    (1) Computed on a tax-equivalent basis using an effective tax rate of 21%.
     
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Reconciliation of Adjusted Earnings                  
    Net income/(loss) $ 64,153     $ 39,742     $ 51,707     $ (70,363 )   $ 48,091  
    (Gain)/loss from sale of securities   9,520       10,111       (58 )     140,007       114  
    (Gain)/loss on sales/valuation of assets, net   (26,419 )     193       214       2,072       108  
    Acquisition, integration and restructuring costs   2,026       5,973       1,375       4,365       2,429  
    FDIC special assessment   (267 )     (631 )     2,049       8,145       —  
    Total adjustments   (15,140 )     15,646       3,580       154,589       2,651  
    Tax effect of adjustments(2)   3,634       (3,739 )     (866 )     (36,638 )     (628 )
    Adjusted earnings $ 52,647     $ 51,649     $ 54,421     $ 47,588     $ 50,114  
                       
    Preferred dividends   (2,013 )     (2,012 )     (2,013 )     (2,012 )     (2,013 )
    Adjusted earnings available to common stockholders $ 50,634     $ 49,637     $ 52,408     $ 45,576     $ 48,101  
                       
    Plus core deposit intangibles amortization, net of tax(2)   1,022       1,081       1,131       1,229       1,240  
    Earnings available to common stockholders excluding intangible amortization (non-GAAP) $ 51,656     $ 50,718     $ 53,539     $ 46,805     $ 49,341  
                       
    Reconciliation of Adjusted Annualized Return on Average Assets                  
    Average assets $ 18,439,910     $ 19,043,362     $ 19,296,638     $ 19,667,825     $ 20,207,920  
    Adjusted annualized return on average assets (non-GAAP)   1.14 %     1.09 %     1.13 %     0.96 %     0.98 %
                       
    Reconciliation of Adjusted Annualized Return on Average Common Equity                  
    Average common stockholders’ equity (GAAP) $ 1,962,334     $ 1,863,236     $ 1,832,959     $ 1,729,086     $ 1,746,818  
    Adjusted annualized average common equity (non-GAAP)   10.27 %     10.71 %     11.50 %     10.46 %     10.92 %
                       
    Reconciliation of Adjusted Annualized Return on Average Tangible Common Equity                  
    Average tangible common equity (non-GAAP) $ 1,371,515     $ 1,271,046     $ 1,239,313     $ 1,133,888     $ 1,149,992  
    Adjusted annualized average tangible common equity (non-GAAP)   14.98 %     16.05 %     17.38 %     16.38 %     17.02 %
                       
    Reconciliation of Adjusted Diluted Earnings Per Common Share                  
    Weighted average shares outstanding-diluted   43,195,257       43,060,354       42,915,768       42,838,405       42,812,563  
    Adjusted diluted earnings per common share $ 1.17     $ 1.15     $ 1.22     $ 1.06     $ 1.12  
                       
    (2) Tax effect is calculated based on the respective periods’ year-to-date effective tax rate excluding the impact of discrete items.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
    September 30,    		   For the Nine Months Ended
    September 30,
        2024       2023       2024       2023  
    Reconciliation of Annualized Return on Average Tangible Common Equity (non-GAAP)              
    Earnings available to common stockholders (GAAP) $ 62,140     $ 46,078     $ 149,564     $ 144,245  
    Plus core deposit intangibles amortization, net of tax(2)   1,022       1,240       3,236       3,908  
    Earnings available to common stockholders excluding intangible amortization (non-GAAP) $ 63,162     $ 47,318     $ 152,800     $ 148,153  
                   
    Average common equity (GAAP) $ 1,962,334     $ 1,746,818     $ 1,886,454     $ 1,710,230  
    Less average goodwill   576,005       576,005       576,005       576,005  
    Less average core deposit intangibles, net   14,814       20,821       16,208       22,501  
    Average tangible common equity (non-GAAP) $ 1,371,515     $ 1,149,992     $ 1,294,241     $ 1,111,724  
    Annualized return on average common equity (GAAP)   12.60 %     10.47 %     10.59 %     11.28 %
    Annualized return on average tangible common equity (non-GAAP)   18.32 %     16.32 %     15.77 %     17.82 %
                   
    Reconciliation of Annualized Net Interest Margin, Fully Tax-Equivalent (non-GAAP)              
    Net Interest Income (GAAP) $ 157,897     $ 145,756     $ 470,853     $ 445,100  
    Plus tax-equivalent adjustment(1)   2,010       2,152       5,981       6,497  
    Net interest income, fully tax-equivalent (non-GAAP) $ 159,907     $ 147,908     $ 476,834     $ 451,597  
                   
    Average earning assets $ 16,838,131     $ 18,439,010     $ 17,254,023     $ 18,451,907  
                   
    Annualized net interest margin (GAAP)   3.73 %     3.14 %     3.65 %     3.23 %
    Annualized net interest margin, fully tax-equivalent (non-GAAP)   3.78       3.18       3.69       3.27  
    Net purchase accounting discount amortization on loans included in annualized net interest margin   0.02       0.01       0.02       0.02  
                   
    (1) Computed on a tax-equivalent basis using an effective tax rate of 21%.
    (2) Tax effect is calculated based on the respective periods’ year-to-date effective tax rate excluding the impact of discrete items.
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
    September 30,    		   For the Nine Months Ended
    September 30,
      2024       2023       2024       2023  
    Reconciliation of Adjusted Efficiency Ratio, Fully Tax-Equivalent (non-GAAP)              
    Net interest income (GAAP) $ 157,897     $ 145,756     $ 470,853     $ 445,100  
    Tax-equivalent adjustment(1)   2,010       2,152       5,981       6,497  
    Fully tax-equivalent net interest income   159,907       147,908       476,834       451,597  
    Noninterest income (GAAP)   18,992       28,383       64,862       90,875  
    Securities (gains)/losses, net   9,520       114       19,573       1,532  
    Unrealized gain on equity securities, net   (377 )     (13 )     (605 )     (165 )
    Adjusted revenue (non-GAAP) $ 188,042     $ 176,392     $ 560,664     $ 543,839  
                   
    Total noninterest expenses (GAAP) $ 85,927     $ 111,053     $ 315,766     $ 331,542  
    Less:              
    Core deposit intangibles amortization   1,345       1,625       4,258       5,128  
    Partnership investment in tax credit projects   222       1,136       938       1,828  
    (Gain)/loss on sales/valuation of assets, net   (26,419 )     108       (26,012 )     (2,149 )
    Acquisition, integration and restructuring costs   2,026       2,429       9,374       5,994  
    FDIC special assessment   (267 )     —       1,151       —  
    Core expenses (non-GAAP) $ 109,020     $ 105,755     $ 326,057     $ 320,741  
                   
    Efficiency ratio (GAAP)   48.58 %     63.77 %     58.94 %     61.86 %
    Adjusted efficiency ratio, fully tax-equivalent (non-GAAP)   57.98 %     59.95 %     58.16 %     58.98 %
                   
    Reconciliation of Annualized Ratio of Core Expenses to Average Assets (non-GAAP)              
    Total noninterest expenses (GAAP) $ 85,927     $ 111,053     $ 315,766     $ 331,542  
    Core expenses (non-GAAP)   109,020       105,755       326,057       320,741  
                   
    Average assets $ 18,439,910     $ 20,207,920     $ 18,924,862     $ 20,182,808  
    Total noninterest expenses to average assets (GAAP)   1.85 %     2.18 %     2.23 %     2.20 %
    Core expenses to average assets (non-GAAP)   2.35 %     2.08 %     2.30 %     2.12 %
                   
    Acquisition, integration and restructuring costs              
    Salaries and employee benefits $ 58     $ 94     $ 689     $ 261  
    Occupancy   —       —       —       —  
    Furniture and equipment   52       —       105       —  
    Professional fees   1,674       1,617       7,990       3,619  
    Advertising   —       178       —       522  
    Other noninterest expenses   242       540       590       1,592  
    Total acquisition, integration and restructuring costs $ 2,026     $ 2,429     $ 9,374     $ 5,994  
                   
    (1) Computed on a tax-equivalent basis using an effective tax rate of 21%.              
    HEARTLAND FINANCIAL USA, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
    DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA
      For the Quarter Ended
    September 30,    		   For the Nine Months Ended
    September 30,
        2024       2023       2024       2023  
    Reconciliation of Adjusted Earnings (non-GAAP)              
    Net income/(loss) $ 64,153     $ 48,091     $ 155,602     $ 150,283  
    (Gain)/loss from sale of securities   9,520       114       19,573       1,532  
    (Gain)/loss on sales/valuation of assets, net   (26,419 )     108       (26,012 )     (2,149 )
    Acquisition, integration and restructuring costs   2,026       2,429       9,374       5,994  
    FDIC special assessment   (267 )     —       1,151       —  
    Total adjustments   (15,140 )     2,651       4,086       5,377  
    Tax effect of adjustments(2)   3,634       (628 )     (981 )     (1,280 )
    Adjusted earnings $ 52,647     $ 50,114     $ 158,707     $ 154,380  
                   
    Preferred dividends   (2,013 )     (2,013 )     (6,038 )     (6,038 )
    Adjusted earnings available to common stockholders $ 50,634     $ 48,101     $ 152,669     $ 148,342  
                   
    Plus core deposit intangibles amortization, net of tax(2)   1,022       1,240       3,236       3,908  
    Earnings available to common stockholders excluding intangible amortization (non-GAAP) $ 51,656     $ 49,341     $ 155,905     $ 152,250  
                   
    Reconciliation of Adjusted Annualized Return on Average Assets              
    Average assets $ 18,439,910     $ 20,207,920     $ 18,924,862     $ 20,182,808  
    Adjusted annualized return on average assets (non-GAAP)   1.14 %     0.98 %     1.12 %     1.02 %
                   
    Reconciliation of Adjusted Annualized Return on Average Common Equity              
    Average common stockholders’ equity (GAAP) $ 1,962,334     $ 1,746,818     $ 1,886,454     $ 1,710,230  
    Adjusted annualized return on average common equity (non-GAAP)   10.27 %     10.92 %     10.81 %     11.60 %
                   
    Reconciliation of Adjusted Annualized Return on Average Tangible Common Equity              
    Average tangible common equity (non-GAAP) $ 1,371,515     $ 1,149,992     $ 1,294,241     $ 1,111,724  
    Adjusted annualized return on average tangible common equity (non-GAAP)   14.98 %     17.02 %     16.09 %     18.31 %
                   
    Reconciliation of Adjusted Diluted Earnings Per Common Share              
    Weighted average shares outstanding-diluted   43,195,257       42,812,563       43,080,422       42,769,872  
    Adjusted diluted earnings per common share $ 1.17     $ 1.12     $ 3.54     $ 3.47  
                   
    (2) Tax effect is calculated based on the respective periods’ year-to-date effective tax rate excluding the impact of discrete items.

    The MIL Network –

  • MIL-OSI: Home Federal Bancorp, Inc. of Louisiana Reports Results of Operations for the Three Months Ended September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    Shreveport, Oct. 29, 2024 (GLOBE NEWSWIRE) — Home Federal Bancorp, Inc. of Louisiana (the “Company”) (Nasdaq: HFBL), the holding company of Home Federal Bank, reported net income for the three months ended September 30, 2024, of $941,000 compared to net income of $1.2 million reported for the three months ended September 30, 2023. The Company’s basic and diluted earnings per share were $0.31 for the three months ended September 30, 2024, compared to basic and diluted earnings per share of $0.40 and $0.39, respectively, for the three months ended September 30, 2023.

    The decrease in net income for the three months ended September 30, 2024, compared to the same period in 2023, resulted from a decrease in net interest income of $857,000, or 16.2%, and a decrease in non-interest income of $134,000, or 30.9%, partially offset by a decrease in non-interest expense of $177,000, or 4.2%, a decrease in provision for income taxes of $312,000, or 100.6%, a decrease in the provision of credit losses of $223,000. The decrease in net interest income for the three months ended September 30, 2024, compared to the same period in 2023, resulted from an increase in total interest expense of $524,000, or 18.8%, and a decrease in total interest income of $333,000, or 4.1%.  The Company’s average interest rate spread was 2.23% for the three months ended September 30, 2024, compared to 2.68% for the three months ended September 30, 2023. The Company’s net interest margin was 2.98% for the three months ended September 30, 2024, compared to 3.37% for the three months ended September 30, 2023.

    The following table sets forth the Company’s average balances and average yields earned and rates paid on its interest-earning assets and interest-bearing liabilities for the periods indicated.

        For the Three Months Ended September 30,  
        2024     2023  
        Average
    Balance    		     Average
    Yield/Rate    		     Average
    Balance    		     Average
    Yield/Rate    		  
        (Dollars in thousands)  
    Interest-earning assets:                                
    Loans receivable   $ 466,170       5.87 %   $ 498,242       5.79 %
    Investment securities     96,749       2.09       113,584       2.18  
    Interest-earning deposits     25,617       5.20       10,066       6.98  
    Total interest-earning assets   $ 588,536       5.22 %   $ 621,892       5.15 %
                                     
    Interest-bearing liabilities:                                
    Savings accounts   $ 82,556       1.61 %   $ 78,572       0.38 %
    NOW accounts     72,787       1.10       55,900       0.48  
    Money market accounts     75,216       2.29       108,891       2.26  
    Certificates of deposit     204,019       4.30       194,785       3.73  
    Total interest-bearing deposits      434,578       2.92       438,148       2.47  
    Other bank borrowings     5,989       7.75       8,654       8.39  
    FHLB advances     —       —       1,138       5.23  
    Total interest-bearing liabilities   $ 440,567       2.98 %   $ 447,940       2.47 %

    The $134,000 decrease in non-interest income for the three months ended September 30, 2024, compared to the same period in 2023, resulted from an increase in loss on sale of real estate of $220,000, partially offset by an increase in gain on sale of loans of $58,000, an increase in other non-interest income of $26,000, and an increase in income on bank owned life insurance of $2,000.

    The $177,000 decrease in non-interest expense for the three months ended September 30, 2024, compared to the same period in 2023, resulted from decreases in advertising expense of $86,000, compensation and benefits expense of $54,000, professional fees of $43,000, loan and collection expense of $32,000, data processing expense of $26,000, amortization of core deposit intangible expense of $20,000, and deposit insurance premium expense of $1,000, partially offset by increases in audit and examination fees of $30,000, other non-interest expense of $28,000, occupancy and equipment expense of $15,000, and franchise and bank shares tax expense of $12,000.

    Total assets decreased $9.1 million, or 1.4%, from $637.5 million at June 30, 2024 to $628.4 million at September 30, 2024. The decrease in assets was comprised of decreases in net loans receivable of $16.9 million, or 3.6%, from $470.9 million at June 30, 2024 to $454.0 million at September 30, 2024, real estate owned of $296,000, or 70.8% from $418,000 at June 30, 2024 to $122,000 at September 30, 2024, premises and equipment of $238,000, or 1.3%, from $18.3 million at June 30, 2024 to $18.1 million at September 30, 2024, core deposit intangible of $74,000, or 6.2%, from $1.2 million at June 30, 2024 to $1.1 million at September 30, 2024, and accrued interest receivable of $14,000, or 0.8%, from $1.78 million at June 30, 2024 to $1.76 million at September 30, 2024, partially offset by increases in cash and cash equivalents of $6.1 million, or 17.4%, from $34.9 million at June 30, 2024 to $41.0 million at September 30, 2024, investment securities of $1.4 million, or 1.5%, from $96.0 million at June 30, 2024 to $97.4 million at September 30, 2024, loans-held-for-sale of $535,000, or 30.9%, from $1.7 million at June 30, 2024 to $2.3 million at September 30, 2024, other assets of $224,000, or 16.6%, from $1.3 million at June 30, 2024 to $1.6 million at September 30, 2024, deferred tax asset of $29,000, or 2.5%, from $1.18 million at June 30, 2024 to $1.21 million at September 30, 2024, and bank owned life insurance of $29,000, or 0.4%, from $6.81 million at June 30, 2024 to $6.84 million at September 30, 2024. The increase in investment securities was primarily due to $4.0 million in security purchases and a $1.3 million reduction in unrealized losses on available for sale securities, partially offset by $3.5 million in principal payments. The increase in cash and cash equivalents from $34.9 million at June 30, 2024 to $41.0 million at September 30, 2024 was mainly due to decreases in loans receivable.

    Total liabilities decreased $10.6 million, or 1.8%, from $584.7 million at June 30, 2024 to $574.1 million at September 30, 2024. The decrease in liabilities was comprised of decreases in total deposits of $9.4 million, or 1.6%, from $574.0 million at June 30, 2024 to $564.6 million at September 30, 2024, and other borrowings of $1.5 million, or 21.4%, from $7.0 million at June 30, 2024 to $5.5 million at September 30, 2024, partially offset by increases in other accrued expenses and liabilities of $252,000, or 7.9%, from $3.2 million at June 30, 2024 to $3.4 million at September 30, 2024, and advances from borrowers for taxes and insurance of $123,000, or 23.6%, from $521,000 at June 30, 2024 to $644,000 at September 30, 2024,. The decrease in deposits resulted from decreases in certificates of deposit of $17.5 million, or 8.2%, from $214.9 million at June 30, 2024 to $197.3 million at September 30, 2024, and money market deposits of $5.9 million, or 6.9%, from $85.5 million at June 30, 2024 to $79.6 million at September 30, 2024, partially offset by increases in savings deposits of $9.2 million, or 12.0%, from $76.6 million at June 30, 2024 to $85.8 million at September 30, 2024, non-interest deposits of $3.0 million, or 2.3%, from $130.3 million at June 30, 2024 to $133.3 million at September 30, 2024, and NOW accounts of $1.9 million, or 2.8%, from $66.6 million at June 30, 2024 to $68.5 million at September 30, 2024. The Company had no balances in brokered deposits at September 30, 2024 or June 30, 2024.

    At September 30, 2024, the Company had $1.9 million of non-performing assets (defined as non-accruing loans, accruing loans 90 days or more past due, and other real estate owned) compared to $2.0 million on non-performing assets at June 30, 2024, consisting of two commercial non-real estate loans, five single-family residential loans, four home equity line-of-credit loans, and one single-family residence in other real estate owned at September 30, 2024, compared to five single-family residential loans, three commercial non-real estate loans, four home equity line-of-credit loans and three single-family residences in other real estate owned at June 30, 2024.  At September 30, 2024 the Company had five commercial non-real-estate loans, one commercial real-estate loan, six single family residential loans, four home-equity line-of-credit loans, and one auto loan classified as substandard, compared to six single family residential loans, five commercial non-real-estate loans, four home equity line-of-credit loans and one auto loan classified as substandard at June 30, 2024.  There were no loans classified as doubtful at September 30, 2024 or June 30, 2024.

    Shareholders’ equity increased $1.5 million, or 2.8%, from $52.8 million at June 30, 2024 to $54.3 million at September 30, 2024. The increase in shareholders’ equity was comprised of net income for the three month period of $941,000, the vesting of restricted stock awards, stock options, and the release of employee stock ownership plan shares totaling $94,000, proceeds from the issuance of common stock from the exercise of stock options of $19,000, and a decrease in the Company’s accumulated other comprehensive loss of $1.0 million, partially offset by dividends paid totaling $409,000, and stock repurchases of $182,000.

    Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its ten full-service banking offices and home office in northwest Louisiana.

    Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words like “believe”, “expect”, “anticipate”, “estimate”, and “intend”, or future or conditional verbs such as “will”, “would”, “should”, “could”, or “may”.  We undertake no obligation to update any forward-looking statements.

    In addition to factors previously disclosed in the reports filed by the Company with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations; general economic conditions; legislative and regulatory changes; monetary and fiscal policies of the federal government; changes in tax policies, rates and regulations of federal, state and local tax authorities including the effects of the Tax Reform Act; changes in interest rates, deposit flows, the cost of funds, demand for loan products and the demand for financial services, competition, changes in the quality or composition of the Company’s loans, investment and mortgage-backed securities portfolios; geographic concentration of the Company’s business; fluctuations in real estate values; the adequacy of loan loss reserves; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; changes in accounting principles, policies or guidelines and other economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services and fees.

    HOME FEDERAL BANCORP, INC. OF LOUISIANA
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (In thousands except share and per share data)
        September 30, 2024     June 30, 2024  
        (Unaudited)          
    ASSETS                
                     
    Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $32,743 and $25,505 at September 30, 2024 and June 30, 2024, Respectively)   $ 41,044     $ 34,948  
    Securities Available-for-Sale (amortized cost September 30, 2024: $31,977; June 30, 2024: $30,348, Respectively)     29,934       27,037  
    Securities Held-to-Maturity (fair value September 30, 2024: $56,584; June 30, 2024: $54,450, Respectively)     65,800       67,302  
    Other Securities     1,633       1,614  
    Loans Held-for-Sale     2,268       1,733  
    Loans Receivable, Net of Allowance for Credit Losses (September 30, 2024: $4,703; June 30, 2024: $4,574, Respectively)     454,039       470,852  
    Accrued Interest Receivable     1,761       1,775  
    Premises and Equipment, Net     18,065       18,303  
    Bank Owned Life Insurance     6,839       6,810  
    Goodwill     2,990       2,990  
    Core Deposit Intangible     1,125       1,199  
    Deferred Tax Asset     1,210       1,181  
    Real Estate Owned     122       418  
    Other Assets     1,574       1,350  
                     
    Total Assets   $ 628,404     $ 637,512  
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
                     
    LIABILITIES                
                     
    Deposits:                
    Non-interest bearing   $ 133,293     $ 130,334  
    Interest-bearing     431,267       443,673  
    Total Deposits     564,560       574,007  
    Advances from Borrowers for Taxes and Insurance     644       521  
    Other Borrowings     5,500       7,000  
    Other Accrued Expenses and Liabilities     3,433       3,181  
                     
    Total Liabilities     574,137       584,709  
                     
    SHAREHOLDERS’ EQUITY                
                     
    Preferred Stock – $0.01 Par Value; 10,000,000 Shares Authorized: None Issued and Outstanding     –       –  
    Common Stock – $0.01 Par Value; 40,000,000 Shares Authorized: 3,129,668 and 3,144,168 Shares Issued and Outstanding at September 30, 2024 and June 30, 2024, Respectively     32       32  
    Additional Paid-in Capital     41,822       41,739  
    Unearned ESOP Stock     (379 )     (408 )
    Retained Earnings     14,406       14,055  
    Accumulated Other Comprehensive Loss     (1,614 )     (2,615 )
                     
    Total Shareholders’ Equity     54,267       52,803  
                     
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 628,404     $ 637,512  
    HOME FEDERAL BANCORP, INC. OF LOUISIANA
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited) (In thousands except share and per share data)
        Three Months Ended  
        September 30,  
        2024     2023  
    INTEREST INCOME                
    Loans, including fees   $ 6,895     $ 7,274  
    Investment securities     67       150  
    Mortgage-backed securities     443       473  
    Other interest-earning assets     336       177  
    Total interest income     7,741       8,074  
                     
    INTEREST EXPENSE                
    Deposits     3,197       2,592  
    Federal Home Loan Bank borrowings     —       15  
    Other bank borrowings     117       183  
    Total interest expense     3,314       2,790  
    Net interest income     4,427       5,284  
                     
    RECOVERY OF CREDIT LOSSES     (223 )     —  
    Net interest income after recovery of credit losses     4,650       5,284  
                     
    NON-INTEREST INCOME                
    Gain on sale of loans     96       38  
    Loss on sale of real estate     (254 )     (34 )
    Income on bank owned life insurance     28       26  
    Service charges on deposit accounts     391       391  
    Other income     39       13  
                     
    Total non-interest income     300       434  
                     
    NON-INTEREST EXPENSE                
    Compensation and benefits     2,302       2,356  
    Occupancy and equipment     564       549  
    Data processing     219       245  
    Audit and examination fees     132       102  
    Franchise and bank shares tax     168       156  
    Advertising     57       143  
    Professional fees     117       160  
    Loan and collection     28       60  
    Amortization core deposit intangible     74       94  
    Deposit insurance premium     90       91  
    Other expenses     260       232  
    Total non-interest expense     4,011       4,188  
                     
    Income before income taxes     939       1,530  
    PROVISION FOR INCOME TAX EXPENSE     (2 )     310  
                     
    NET INCOME   $ 941     $ 1,220  
                     
    EARNINGS PER SHARE                
    Basic   $ 0.31     $ 0.40  
    Diluted   $ 0.31     $ 0.39  
        Three Months Ended
    September 30,    		  
        2024     2023  
                     
    Selected Operating Ratios(1):                
    Average interest rate spread     2.23 %     2.68 %
    Net interest margin     2.98 %     3.37 %
    Return on average assets     0.59 %     0.73 %
    Return on average equity     7.23 %     9.46 %
                     
    Asset Quality Ratios(2):                
    Non-performing assets as a percent of total assets     0.31 %     0.28 %
    Allowance for credit losses as a percent of non-performing loans     258.46 %     403.96 %
    Allowance for credit losses as a percent of total loans receivable     1.03 %     1.00 %
                     
    Per Share Data:                
    Shares outstanding at period end     3,129,668       3,133,351  
    Weighted average shares outstanding:                
    Basic     3,058,286       3,028,597  
    Diluted     3,071,716       3,107,834  
    (1)     Ratios for the three-month period are annualized.
    (2)     Asset quality ratios are end of period ratios.

    The MIL Network –

  • MIL-OSI Submissions: Africa – Shelter Afrique Development Bank (ShafDB) and BRVM sign MOU to Mobilize Capital for Affordable Housing Projects in Africa

    Source: Media Fast

    Washington, DC, October 29, 2024 – Shelter Afrique Development Bank (ShafDB), the pan-African housing and urban development multilateral bank and the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange serving the West African Economic and Monetary Union (WAEMU) region, have signed a Memorandum of Understanding (MOU) to mobilize capital for affordable housing projects across Africa.

    The MOU establishes a framework for collaboration between the two organizations to address Africa’s growing housing deficit, currently estimated at over 53 million units. The partnership will focus on mobilizing financial resources through innovative instruments such as Green, Sustainability-linked, and Social (GSSS) bonds, as well as Real Estate Investment Trusts (REITs).

    Dr. Edoh Kossi Amenounve, CEO of BRVM, and Thierno-Habib Hann, CEO of Shelter Afrique, signed the MOU at a ceremony held in Washington DC on the sidelines of the IMF-World Bank Group Annual Meetings last week.

    The collaboration represents a critical step towards enhancing the capacity of African markets to finance sustainable housing development, particularly in the eight WAEMU countries, namely Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

    Key Areas of Collaboration

    ShafDB and BRVM will work together to design and implement an issuance plan for debt securities on the BRVM regional financial market.  

    The parties will explore sustainability-linked Bonds by promoting the use of green, gender, Islamic, and diaspora bonds to support housing finance within the WAEMU region and mobilize capital and encourage capital investment in the community housing sector via Real Estate Investment Funds (REITs).  

    Both parties will also exchange knowledge, provide technical assistance, and collaborate on joint research and publications to promote their common objectives.

    Speaking at the signing ceremony, Thierno-Habib Hann emphasized the significance of the partnership in addressing Africa’s housing crisis.

    “This partnership with BRVM is a significant milestone for Shelter Afrique Development Bank. With Africa’s housing deficit now exceeding 53 million units, we need to scale our efforts rapidly. This MOU offers us the opportunity to mobilize the capital necessary to finance affordable and sustainable housing projects across the continent,” Hann said.

    Commenting on the partnership’s potential impact, Dr. Edoh Kossi Amenounve said, “BRVM is proud to partner with Shelter Afrique Development Bank (ShafDB) to boost investment flows into Africa’s housing market. This collaboration is aligned with our mission to promote capital markets and support sustainable development within the WAEMU region.”

     Note:

    About Shelter Afrique Development Bank:

    Shelter Afrique Development Bank (ShafDB) is the Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: the African Development Bank (AfDB) and the African Reinsurance Corporation (Africa-Re).

    The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG).

    About BRVM

    The Bourse Régionale des Valeurs Mobilières (BRVM) is the regional stock exchange serving the WAEMU zone. It facilitates access to capital markets for companies and governments across eight West African countries, promoting investment, economic growth, and regional integration. BRVM is committed to enhancing financial inclusion and sustainable development through innovative market solutions.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Durbin Delivers Opening Statement During Senate Judiciary Committee Field Hearing In Chicago On Reducing Prescription Drug Costs

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    10.29.24
    CHICAGO – U.S. Senate Majority Whip Dick Durbin (D-IL), Chair of the Senate Judiciary Committee, today delivered an opening statement at the Senate Judiciary Committee field hearing in Chicago, Illinois, entitled “Reducing Prescription Drug Prices:  How Competition Can Make Medications Affordable for Patients.” The hearing includes two witness panels, including Members of Congress from Illinois and advocates for prescription drug pricing reform, to examine recent legislative successes to address anti-competitive tactics that make medications unaffordable for patients.
    Key Quotes:
    “Today the Committee will examine an issue on the minds of many in Illinois and across the country: the high price of prescription drugs.  It is a scandalous situation in America.  People in the United States pay the highest prescription drug prices in the world—on average, four times more than people in similar countries pay for brand-name medications.” 
    “For example: [when] the blood thinner Eliquis entered the market in 2013, it cost $3,100 annually in the U.S.  Same drug for sale in Japan [was] $1,000.  And, over the past decade, the price in the U.S. has more than doubled, from $3,100 to $7,100.  Meanwhile, in Japan, the price has dropped… Why?  For years, Big Pharma has abused our patent system to obtain monopolies on their medications, so they can charge these sky-high prices.” 
    “At the same time, they have spent billions of dollars to fill the airwaves with ads so patients tell their doctors they need drugs like Eliquis so they can go skiing, fishing, and whitewater rafting.   By fueling demand for expensive medications that are walled-off from competition by clever patent schemes, Big Pharma has made American patients their profit engine.”
    “Thankfully, this Administration and Democrats in Congress decided to do something about it.  In 2022, Congress passed, and President Biden signed into law the Inflation Reduction Act.  Not a single Republican voted for it.  Under this law, we have capped the price of insulin at $35 per month, saving 50,000 seniors in Illinois approximately $500 a year.  We have made vaccines under Medicare free.  When the shingles or RSV vaccines can cost up to $300 per dose, this change creates real savings for 1.4 million seniors in Illinois.  Starting in January, there will be a $2,000 annual cap on out-of-pocket costs for seniors—meaning, no matter how expensive your medications are, you will not pay more than $2,000 in co-pays per year.”
    “In August, the Biden-Harris Administration negotiated with Big Pharma to lower prices for 10 of the most expensive drugs under Medicare, resulting in price savings of up to 79 percent… As a result of this negotiation, nine million seniors will save a total of $1.5 billion in annual out-of-pocket costs—including nearly 300,000 seniors in Illinois who take one of these ten drugs.  Remember Eliquis?  Thanks to this new law, Medicare was able to permanently cut its price in half—taking nearly $300 off the monthly price tag—for more than 100,000 seniors in Illinois.”
    “But just as these historic savings are starting to take effect, there are real threats to our progress.  Eight pharmaceutical companies raced to federal courthouses to stop this price negotiation.  And former-President Trump and his Republican allies want to repeal this provision all together.”
    “Too often, the prices Big Pharma charges do not reflect scientific breakthroughs but, rather, manipulation by its lawyers and marketers.  In fact, the top 10 best-selling drugs in 2021 were covered by an average of 42 active patents that block competition and create windfall profits.”
    “The Judiciary Committee has taken a leading role in addressing Big Pharma’s schemes.  Last year, the Committee unanimously reported five bipartisan bills that addressed the industry’s anticompetitive tactics.  This includes my bill with Senator Tillis to improve information sharing between the FDA and Patent Office to prevent gamesmanship. Congress needs to pass these bills into law.”
    “Drugs are not effective in treating disease if a patient cannot afford to buy them.  Our hearing today will explore how legislation like the Inflation Reduction Actand the Judiciary Committee bills can help ensure every patient can access lifesaving medications.”
      
    Video of Durbin’s opening statement is available here.
    Audio of Durbin’s opening statement is available here.
    Footage of Durbin’s opening statement is available here for TV Stations.
    The United States has the highest prescription drug prices in the developed world, on average nearly four times higher than what other countries pay for some of the most common brand-name medications. Despite claims that these prices are necessary to fund research and development into the next generation of drugs, research suggests that the majority of innovation is driven by smaller companies, as well as taxpayer funding through the National Institutes of Health. The Committee has jurisdiction over competition issues and the intellectual property system, which play critical roles in incentivizing true innovation and protecting a healthy market that keeps prices for prescription drugs within reach of the patients that need them.
    Durbin, Senate Democrats, and the Biden-Harris Administration have taken numerous steps to lower the costs of prescription drugs. Democrats’ Inflation Reduction Actprovided the Administration the authority to negotiate drug prices with Big Pharma, which has already resulted in price reduction of up to 79 percent for 10 of the most expensive and frequently-dispensed prescription drugs for seniors.
    Earlier this Congress, a package of bills advanced unanimously out of the Committee to lower prescription drug prices and are awaiting a vote in the full Senate, including the Interagency Patent Coordination and Improvement Act introduced by U.S. Senators Dick Durbin (D-IL) and Thom Tillis (R-NC).
    Additionally, Durbin held a full committee hearing in May that scrutinized pharmaceutical companies’ abuse of the Orange Book and examined prescription drug prices, competition, and how to ensure medications are accessible and affordable for patients.
    -30-

    MIL OSI USA News –

  • MIL-OSI Video: Applying for FEMA Assistance

    Source: United States of America – Federal Government Departments (video statements)

    FEMA can provide support with rental assistance, home repairs, personal property, transportation needs, and more.
    Whatever your recovery needs, we’re here to help you through the process and a number of Disaster Recovery Centers have opened in the impacted areas.

    Find a Disaster Recovery Center (DRC) near you:
    Call: 800-621-3362
    Apply online: DisasterAssistance.gov
    fema.gov/about/glossary/disaster-survivor-assistance

    https://www.youtube.com/watch?v=Lq9pwa5TRpE

    MIL OSI Video –

  • MIL-OSI USA: Congressman Robert Garcia Urges Social Security Administration to Protect Beneficiaries in Guaranteed Income Initiatives

    Source: United States House of Representatives – Congressman Robert Garcia California (42nd District)

    Washington, D.C.  – Today, Congressman Robert Garcia (CA-42) sent a letter to the head of the Social Security Administration (SSA) urging a rule change to ensure that individuals who benefit from guaranteed income programs can still access full Social Security Insurance (SSI) benefits. This change would allow SSI beneficiaries to take part in state and local guaranteed income programs and cash assistance initiatives that help low-income households, without putting their benefits at risk. To read the full letter, click here.

    An excerpt of the letter can be found below: 

    “Dear Administrator O’Malley,

    I am writing to urge the Social Security Administration (SSA) to address a critical issue affecting the interaction between direct cash programs and supplemental security income (SSI) benefits as part of its upcoming Overpayment Recovery rule, scheduled for April 2025. Specifically, SSA should take this opportunity to implement regulatory changes that will better protect SSI recipients who benefit from cash programs. These regulatory changes are urgently needed to clarify the definition of “Assistance Based on Need” (ABON) and ensure that state and local Temporary Assistance for Needy Families (TANF) programs are recognized appropriately in this context.

    Over the past five years, there has been a significant rise in direct cash programs aimed at improving the economic stability of low-income households, including guaranteed income initiatives, state and local tax credits, and TANF-funded cash transfer programs. During my mayoral tenure, I helped launch a transformational universal basic income pilot that provided critical financial support to low-income families.

    The program, funded by the American Rescue Plan Act (ARPA), has since benefitted hundreds of households, offering $500 monthly to families in the city’s lowest-income neighborhoods. Building on this experience, I recently introduced the Guaranteed Income for Foster Youth Act alongside Congresswoman Ilhan Omar and Mayors for a Guaranteed Income (MGI) co-chair Michael Tubbs, which would provide $1,000 monthly to young adults exiting foster care.

    These programs are designed to complement—not undermine—the existing social safety net. However, many SSI beneficiaries cannot participate in these programs without jeopardizing their benefits. SSA has yet to provide clear and comprehensive guidance on how to treat these cash transfers under SSI income determinations.” 

    ###

    MIL OSI USA News –

  • MIL-OSI Australia: Health and Safety Representatives to help make a difference

    Source: New South Wales Premiere

    Published: 30 October 2024

    Released by: Minister for Work Health and Safety

    SafeWork NSW is due to launch three powerful videos about the importance of Health and Safety Representatives (HSR) and workplace safety, at their one-day free HSR refresher training session on Wednesday 30 October 2024.

    The videos highlight the critical role HSRs play in fostering a safe working environment. In one segment, Laura Anderson, an intensive care nurse at Shoalhaven Hospital, recalls the shock of hearing her colleague scream during an avoidable patient attack. 

    As a proud HSR, Laura reflects, “I do find it very rewarding. The staff are very thankful.” She also emphasises the importance of translating safety into action, stating, “If we are keeping our colleagues safe, that in turn keeps the patients safe.”

    HSRs play a pivotal role in gathering information and resolving health and safety issues for their work group.

    SafeWork NSW is partnering with Unions NSW to deliver the full-day event in Surry Hills where a range of initiatives will provide more clarity on HSR roles and their powers under Work Health and Safety (WHS) laws. The event will include:

    • Sessions with the Minister of Work Health Safety Sophie Cotsis, Assistant Secretary of Unions NSW Thomas Costa and SafeWork NSW A/Deputy Secretary Trent Curtin
    • An explanation of the WHS legislation, and how it applies to elected HSR roles
    • A presentation from Debra Pascall from the Family and Injured Workers Support and Advisory Group discussing her son Ben’s story, who died in a workplace-related incident
    • Information about powers under the WHS legislation to issue Provisional Improvement Notices (PINs) and how to direct unsafe work to cease
    • The ability to network with fellow HSRs and share experiences
    • The latest updates and insights on workplace consultation and safety standards.

    The initiative will also cover essential topics including the management of psychosocial hazards such as bullying, excessive workloads, violence and the prevention of sexual harassment.

    HSRs can register for the event here: www.safework.nsw.gov.au/events/safework-events/hsr-forum

    Further information about HSRs can be found here: https://www.safework.nsw.gov.au/safety-starts-here/consultation-at-work/health-and-safety-representatives

    You can view the three-case study promotional video here: HSR forum promotional video

    This event follows the highly successful Regional Workplace Consultation and HSR forums held earlier this year which attracted over 600 attendees across nine locations.  Participants benefited from 230 evaluations, 320 psychosocial workshops, and 280 high risk harm workshops.

    Quotes attributable to Minister for Work Health and Safety Sophie Cotsis

    “The day-long event reinforces the important role of health and safety representatives and will help participants receive the latest information from SafeWork NSW to help them meet their obligations and network with other HSRs.”

    “The videos show how Health and Safety Representatives play a critical role in identifying and resolving workplace risks on behalf of their work group, a process which creates open and positive safety cultures.

    “I commend the HSRs in the case studies for standing up, speaking out and advocating for workers. Every worker has the right to return home safely at the end of every workday.”

    MIL OSI News –