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  • MIL-OSI Global: Bees, fish and plants show how climate change’s accelerating pace is disrupting nature in 2 key ways

    Source: The Conversation – USA – By Courtney McGinnis, Professor of Biology, Medical Sciences and Environmental Sciences, Quinnipiac University

    A bee enjoys lunch on a flower in Hillsboro, Ore. HIllsboro Parks & Rec, CC BY-NC-ND

    The problem with climate change isn’t just the temperature – it’s also how fast the climate is changing today.

    Historically, Earth’s climate changes have generally happened over thousands to millions of years. Today, global temperatures are increasing by about 0.36 degrees Fahrenheit (0.2 degrees Celsius) per decade.

    Imagine a car speeding up. Over time, human activities such as burning fossil fuels have increased the amount of greenhouse gases in the atmosphere. These gases trap heat from the Sun. This is like pressing the gas pedal. The faster the driver adds gas, the faster the car goes.

    The 21st century has seen a dramatic acceleration in the rate of climate change, with global temperatures rising more than three times faster than in the previous century.

    The faster pace and higher temperatures are changing habitat ranges for plants and animals. In some regions, the pace of change is also throwing off the delicate timing of pollination, putting plants and pollinators such as bees at risk.

    Some species are already migrating

    Most plant and animal species can tolerate or at least recover from short-term changes in climate, such as a heat wave. When the changes last longer, however, organisms may need to migrate into new areas to adapt for survival.

    Some species are already moving toward higher latitudes and altitudes with cooler temperatures, altering their geographic territory to stay within their optimal climate. Fish populations, for example, have shifted toward the poles as ocean temperatures have risen.

    Pollinators such as bees can also shift their ranges.

    Bumblebees, for example, are adapted for cooler regions because of their fuzzy bodies. Some bumblebee populations have been disappearing from the southern parts of their geographic range and have been found in cooler regions to the north and in more mountainous areas. That could increase competition with existing bumblebee populations.

    Plants and pollinators can get out of sync

    Plants and their pollinators face another problem as the rate of climate change increases: Many plants rely on insects and other animals for seed and pollen dispersal.

    Much of that pollen dispersal is accomplished by native pollinators. About 75% of plant species in North America require an insect pollinator – bees, butterflies, moths, flies, beetles, wasps, birds and bats. In fact, 1 in 3 bites of food you eat depend on a pollinator, according to the U.S. Department of Agriculture.

    So, even if a species successfully migrates into a new territory, it can face a mismatch of pollination timing. This is known as phenological mismatch.

    Monarch butterflies migrate each year and rely on plants blooming along their path to provide food.
    Clint Wirick/U.S. Fish and Wildlife Service

    During the winter, insects go into a hibernation known as diapause, migrate or take up shelter underground, under rocks or in leaf litter. These insect pollinators use temperature and daylight length as cues for when to emerge or when to migrate to their spring and summer habitats.

    As the rate of climate change increases, the chances of a timing mismatch between pollinators and the plants they pollinate rise.

    With an increase in temperature, many plants are blooming earlier in the spring. If bees or other pollinators emerge at their “normal” time, flowers may already be blooming, reducing their chance for pollination.

    If pollinators emerge too early, they may struggle to survive if their normal food sources are not yet available. Native bees, for example, rely on pollen for much of the protein they need for growing and thriving.

    Wild bees are emerging earlier

    This kind of shift in timing is already happening with bees in the U.S.

    Studies have shown that the date wild bees emerge in the U.S. has shifted by 10.4 days earlier over the past 130 years, and the pace is accelerating.

    One study found wild bees across species have been changing their phenology, or timing of seasonal activities, and over the past 50 years the emergence date is four times faster. That means wild bees were emerging roughly eight days earlier in 2020 than they did in 1970.

    A bee pollinates an almond tree in an orchard.
    David Kosling/U.S. Department of Agriculture, CC BY

    This trend of earlier emergence is generally consistent across organisms with the accelerating rate of climate change. If the timing mismatches continue to worsen, it could exacerbate the decline of pollinator populations and result in inadequate pollination for plants that rely on them.

    Pollinator decline and inadequate pollination already account for a 3% to 5% decline in global fruit, vegetable, spice and nut production annually, a recent study found.

    Without pollinators, ecosystems are less resilient − they are unable to absorb disturbances such as wildfires, adapt to changes, and recover from environmental stressors such as pollution, drought or floods.

    Managing climate change

    Pollinators face many other risks from human activities, including habitat loss from development and harm from pesticide use. Climate change adds to that list.

    Taking steps to reduce the activities driving global warming can help keep these species thriving and carrying out their roles in nature into the future.

    Courtney McGinnis is affiliated with You Got This Kid Leadership Foundation. She receives funding from Community Foundation for Greater New Haven.

    – ref. Bees, fish and plants show how climate change’s accelerating pace is disrupting nature in 2 key ways – https://theconversation.com/bees-fish-and-plants-show-how-climate-changes-accelerating-pace-is-disrupting-nature-in-2-key-ways-255384

    MIL OSI – Global Reports –

  • MIL-OSI Global: What is a downburst? These winds can be as destructive as tornadoes − we recreate them to test building designs

    Source: The Conversation – USA – By Amal Elawady, Associate Professor of Civil and Environmental Engineering, Florida International University

    A downburst blasts Bangkok, Thailand, in 2017. Natapat Ariyamongkol/iStock/Getty Images Plus

    From a distance, a downburst can look like a torrent of heavy rain. But at ground level, its behavior can be far more destructive.

    When a downburst’s winds hit the ground, they shoot out horizontally in all directions, sometimes with enough force to shatter windows and overturn vehicles.

    These winds behave in complicated ways, particularly in cities, as our latest research shows. Downburst winds can deflect off tall buildings, increasing the pressure on neighboring buildings’ windows and walls. The result can blow out glass and chip off facade. Even buildings designed to survive hurricanes can suffer major damage in a downburst.

    As engineers, we study downbursts with the goal of designing buildings, components such as solar panels and windows, and infrastructure such as power lines that can stand up to that powerful force. To do this, informed by field measurements, we create our own powerful downbursts using a hurricane simulator known as the Wall of Wind at Florida International University.

    An illustration of how the winds of a downburst fan out in open space. In a city with tall buildings, the wind can deflect off buildings, causing damage in unexpected ways.
    NASA/Wikimedia Commons

    What is a downburst?

    Downbursts can be as destructive as tornadoes, but their winds develop in a very different way.

    A downburst forms when a thunderstorm pulls cooler, heavier air down from high in the atmosphere. As this rain-cooled air rushes downward, it gains speed. Once it slams into the ground, it has nowhere to go but outward, sending strong winds in all horizontal directions.

    Dust in the air shows the curling rotation of a downburst’s winds.
    NOAA

    The wind speed in a downburst can reach over 150 miles per hour. That’s the strength of a Category 4 hurricane and strong enough to knock down trees and power lines, damage buildings and flip vehicles.

    These winds also rotate, but not in the same way tornadoes do. Downburst winds are typically considered straight-line winds, but they rotate around a horizontal axis as the wind curls upward after hitting the ground. Tornadoes, in contrast, spin around a vertical axis.

    Powerful storm systems known as derechos are often made up of multiple downburst clusters, each containing many smaller downbursts, sometimes called microbursts.

    Recreating Houston’s downburst in a warehouse

    On May 16, 2024, a derecho hit Houston with a downburst that was so strong, it blew out windows in several high-rise buildings that had been built to survive Category 4 hurricanes. The winds also pried off chunks of buildings’ facades.

    Two months later, Hurricane Beryl hit Houston with similar wind speeds, yet it left minimal damage to the downtown buildings.

    When a downburst hit downtown Houston on May 16, 2024, it shattered windows on some sides of buildings but not others, and not always in the line of the storm. The damage offered clues to how downbursts interact with tall buildings.
    Cécile Clocheret/AFP via Getty Images

    To understand how a downburst like this can be so much more destructive – and what cities and building designers can do about it – we simulated both the Houston downburst winds and Hurricane Beryl’s winds in the Wall of Wind.

    The test facility is equipped with a dozen jet fans, each almost as tall as the workers who run them and powerful enough to simulate a Category 5 hurricane. Our team used these fans to recreate powerful downburst winds that hit horizontally with the maximum wind speeds near ground level. Then, we put several models of buildings to the test to see how roofs, windows, facades and the structures of power lines reacted under that force.

    How the Wall of Wind’s fans mimic a downburst’s horizontal force.

    In the Houston derecho, a downburst hit downtown with 100 mph winds. It cracked some lower windows, likely with blowing debris, but it also caused widespread unexpected damage midway up some of the buildings.

    The Chevron Building Auditorium actually suffered the most damage on a side that wasn’t directly in the line of the storm but was facing another tall building. That left some intriguing questions. It suggested that the way the buildings channel the wind may have created a strong suction that blew out windows midway up the tower. Another burning question is whether building design codes are outdated when it comes to how well their cladding can stand up to these localized winds.

    Using the Wall of Wind, we were able to test those pressures on models of the Houston buildings and see how downburst winds increased the pressured on a tall building model with excessive forces near the ground level.

    The ability to simulate these winds is important for improving engineers’ understanding of the differences in how downbursts and other wind events exert force on buildings. The results ultimately inform building standards to help create more resilient and better-protected communities.

    Building better power lines

    Big storms, like downbursts, can also take down power lines.

    Power lines extend hundreds of miles between cities and states, making them more susceptible to a hit from a localized severe storm, such as a downburst. If one of the towers falls, it can cause a chain reaction, like dominoes falling one after another. That can knock out power for large numbers of people.

    The derecho that hit Houston with a downburst also crumpled transmission towers in Texas.
    AP Photo/David J. Phillip

    With colleagues, we have been testing transmission towers and multispan power-line systems under downburst and hurricane winds to understand how these structures respond, with the goal of developing better construction techniques. That work has helped to update the American manual for the design of power lines, which engineers use for designing safer, more storm-resilient transmission towers.

    What’s next

    Low-rise and mid-rise buildings are also vulnerable to downbursts, but the effects are less well understood. Downburst winds are most intense between 10 and 300 feet above the ground, meaning the roofs and walls of some low-rises can be hit with intense horizontal wind.

    Recent building codes have offered design guidelines to help ensure these buildings can withstand tornadoes. However, the way downbursts rotate in a short time around a building or a community of buildings puts pressure on the walls and the roof in different ways. Similar to straight-line winds, we expect high suction on the roof. Due to their short duration, varying wind direction and intense wind speed, downbursts may also cause excessive vibrations and varying pressure distribution on the roof components.

    How microbursts form.

    We’re now testing downburst damage to low- and mid-rise buildings to better understand the risks and help highlight changes that can make buildings more resilient.

    As populations grow, cities are adding more buildings. At the same time, powerful storms are becoming more frequent and more intense. Understanding the effects of different types of storms will help engineers construct high-rises, low-rises and power lines that are better able to withstand extreme weather.

    Amal Elawady receives funding from the National Science Foundation.

    Fahim Ahmed, Mohamed Eissa, and Omar Metwally do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. What is a downburst? These winds can be as destructive as tornadoes − we recreate them to test building designs – https://theconversation.com/what-is-a-downburst-these-winds-can-be-as-destructive-as-tornadoes-we-recreate-them-to-test-building-designs-254931

    MIL OSI – Global Reports –

  • MIL-OSI Global: How a reading group helped young German students defy the Nazis and find their faith

    Source: The Conversation – USA – By Peter Nguyen, SJ, Associate Professor of Religious Studies, College of the Holy Cross

    A copy of the sentences against, left to right, Willi Graf, Kurt Huber, Alexander Schmorell, Hans Scholl, Sophie Scholl and Christoph Probst is displayed at the White Rose Memorial in Munich. Johannes Simon/Getty Images

    For three weeks in April 2025, my “Theology of Christian Martyrdom” class studied how a group of German students and professors from Munich and Hamburg formed a resistance movement from 1942 to 1943 known as the “White Rose.” These individuals defied Nazi tyranny, they were imprisoned, and many were executed.

    At the movement’s center were Hans Scholl, Sophie Scholl, Alexander Schmorell, Christoph Probst and Willi Graf, who were all in their 20s, and Professor Kurt Huber. The Scholl siblings, their friends and their professor were beheaded for urging students at the University of Munich to oppose the Nazi regime.

    On the surface, the White Rose’s “crime” was the writings, printings and distribution of six anti-Nazi pamphlets urging Germans to resist Adolf Hitler and work to end World War II. However, a closer examination of their pamphlets, along with excerpts from their diaries and letters, reveals that their resistance was rooted in something deeper – a faith anchored in friendship and a humanistic learning. Their time together reading and discussing theological texts deepened their Christian faith.

    Teaching this class taught me that teachers can inspire students to improve their country’s social and political landscape through the study of literature, history and theology. Teachers can help students form their consciences and empower them to act against falsehood and injustice.

    The White Rose movement

    These young people came from a variety of Christian backgrounds, including Catholic, Lutheran and Orthodox traditions. Some had been members of the Hitler Youth as teenagers, while others had served as medical assistants in the German army. They formed strong bonds and underwent personal transformations as students at the University of Munich, where they were mentored by a couple of philosophers, especially Kurt Huber, who was a devout Catholic.

    The students met regularly and secretly with their professors to study literature, philosophy and theology from the Catholic intellectual tradition, banned by the Nazi regime as part of Hitler’s strategy to first stifle and then strangle the Catholic Church in Germany. Based on the students’ correspondence and diaries, their covert engagement with Catholic thought became a cornerstone of the White Rose’s rejection of Nazi tyranny.

    In the works of the fifth-century North African theologian Augustine, the 20th-century novelist and playwright Georges Bernanos, and the 20th-century philosopher Jacques Maritain, these students encountered a Catholic intellectual tradition that was responsive to the urgent questions of their time.

    From Augustine they learned the importance of cultivating an interior life grounded in prayer. Bernanos stressed the importance of embracing one’s humanity to confront evil. Maritain emphasized the need to strive for a free democratic society.

    Importance of prayer

    The White Rose movement was concerned not only with the present state of humanity but also with its future, and not only with the individual but also with the communal. In their clandestine meetings and correspondence, they wrestled with the relationship between faith and reason, goodness in the face of evil, the meaning of tyranny, the nature of a just state, and the foundations of genuine liberty. Addressing these serious issues not only matured their intellects but also deepened their hearts; it taught them the importance of prayer.

    Hans Scholl, left, and his sister Sophie in 1940.
    Authenticated News/Archive Photos/Getty Image

    “Better to suffer intolerable pain than to vegetate insensibly. Better to be parched with thirst, better to pray for pain, pain, and more pain, than to feel empty, and to feel so without truly feeling at all. That I mean to resist,” Sophie wrote in her diary in the early summer of 1942.

    The personal writings of the White Rose reflect a religious passion, akin to the prayers of saints.

    For example, in his imprisonment, Graf stated: “I know my Redeemer liveth. This faith alone strengthens and sustains me.” The impact of Christianity on the inner lives of these young people is a crucial part of their narrative and resistance.

    Their circle of friendship became a haven in a totalitarian state that sought to isolate individuals, instill fear and transform these estranged and fearful people into part of a mass society. “We negated the many, and built on the few, and believed ourselves strong,” Traute Lafrenz, the last surviving member of the White Rose and a member of the Hamburg circle, later stated.

    The most significant intellectual influence on the group may have been John Henry Newman, a 19th-century Catholic convert and theologian who emphasized the primacy of a “well-formed” conscience. His writings helped them recognize what Catholics like myself see as a moral truth that transcended Nazi propaganda – that each person bears within them the voice of the living God. This voice could not be silenced by state power.

    Newman’s philosophy

    Newman insisted that conscience is not merely intuitive but is shaped through learning – from conversations, books and lived experience. With their professors’ guidance, the White Rose students were able to cultivate their conscience.

    The annual 2023 Newman lecture while commemmorating the 80th anniversary of the White Rose.

    If Newman were addressing college students today, I like to believe he would emphasize the significance of their conversations with friends on campus, the discussions held with classmates and professors in the classroom, the newspapers they read, the retreats they participated in, the novels they savored during the holidays, their road trips across the country, and their studies abroad. All of these experiences contribute to shaping their conscience.

    Newman’s defense of broad, active and serious learning offered an appealing counterpoint to Nazi ideology, which sought not only to deprive individuals of their civil rights but also to crush their inner lives and capacity to form meaningful relationships through terror and fear.

    The power of a well-formed conscience is perhaps best illustrated by Sophie Scholl, who shared Newman’s sermons with her boyfriend, Fritz Hartnagel, a Wehrmacht officer who fought for Germany during World War II.

    In the summer of 1942, horrified by the brutality he witnessed, Hartnagel wrote to Scholl that Newman’s words were like “drops of precious wine.” In another letter, he wrote: “But we know by whom we are created, and that we stand in a relationship of moral obligation to our Creator. Conscience gives us the capacity to distinguish between good and evil.” After the war, Hartnagel became active in the peace movement and supported conscientious objectors. To the members of the White Rose, conscience was a spiritual stronghold – one the state could not breach.

    Truth-seeking and challenges today

    I believe that while my students today face different challenges – a society shaped by what I regard as the nihilistic presence of technological power and populism, rather than full-blown totalitarianism – they also aspire to act with clarity and conviction. Newman’s view on the formation of conscience resonated with my students as well.

    What my students share with those young dissidents from over 80 years ago is a commitment to cultivating an inner life, fostering a community of friends and engaging in a vibrant intellectual tradition.

    They are drawn to the writings that animated Hans Scholl, who, drawing inspiration from the Catholic playwright Paul Claudel, wrote the following just two days before his arrest.

    “Chasms yawn and darkest night envelops my questing heart, but I press on regardless. As Claudel so splendidly puts it: Life is one great adventure into the light.”

    As a teacher, I believe that young people want to engage with an intellectual tradition that helps them discover their vocation and live with integrity, similar to Scholl.

    They seek to act with a clear conscience amid the uncertainties of their own times. This approach serves as a powerful contrast to any hollow, anti-intellectual and culturally bankrupt tyranny.

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

    – ref. How a reading group helped young German students defy the Nazis and find their faith – https://theconversation.com/how-a-reading-group-helped-young-german-students-defy-the-nazis-and-find-their-faith-254774

    MIL OSI – Global Reports –

  • MIL-OSI Global: ‘Agreeing to disagree’ is hurting your relationships – here’s what to do instead

    Source: The Conversation – USA – By Lisa Pavia-Higel, Assistant Teaching Professor of English and Technical Communication, Missouri University of Science and Technology

    Conversational tools like ‘looping’ and ‘reframing’ can help move a conversation away from confrontation. Candra Ritonga/iStock via Getty Images Plus

    As Americans become more polarized, even family dinners can feel fraught, surfacing differences that could spark out-and-out conflict. Tense conversations often end with a familiar refrain: “Let’s just drop it.”

    As a communications educator and trainer, I am frequently asked how to handle these conversations, especially when they involve social and political issues. One piece of advice I give is that “agree to disagree,” or any other phrase that politely stands in for “stop talking,” will not restore harmony. Not only that, but it could also do permanent harm to those important family bonds.

    ‘No-go’ topics

    Conversation is the currency of relationships. When families talk about anything – from “What are your top five favorite movies?” to “What possessed you to load the dishwasher like that?” – they are not just exchanging information. They are building trust and creating a shared story that deepens the relationships within the family unit.

    According to communication researcher Mark L. Knapp’s model of relationship development, all relationships have a life cycle. People come together and solidify their connection through five stages, from “initiation” to “bonding.” But many relationships eventually come apart, going through five stages of breakdown.

    Mark L. Knapp’s model breaks relationships into 10 stages.

    No relationship is as linear as the model assumes, but it can help pinpoint potential danger zones – moments when a bond is at risk of coming apart. One stage, in particular, illustrates why avoiding these hard conversations is so dangerous: “circumscribing.”

    Imagine circumscribing topics of conservation with yellow police tape around them – topics that almost instantly trigger conflict. Having a few of these “no-go” topics in a relationship probably will not doom a marriage or cause family estrangement. However, marking too many ideas as off-limits makes it easier for people to avoid conversation altogether.

    Circumscribing is one of the “coming apart” stages in Knapp’s model. If problems aren’t addressed, a relationship can keep sliding down the slope toward the last stage: termination.

    We need to talk

    Sadly, this estrangement from loved ones is not a theoretical problem. In a 2022 poll of 11,000 Americans, more than 1 in 4 people reported that they were now estranged from close family.

    What’s more, these relationships are not always replaced by other close ties. About half of Americans say they only have three or fewer close friends. In 2023, then-Surgeon General Vivek Murthy declared widespread loneliness and isolation an “epidemic.”

    Social connection is a basic human need. Relationships do more than provide support; they play a key role in how people define themselves. According to psychology’s “social penetration theory,” conversation with close family and loved ones deepens relationships while helping people learn to articulate their deepest values.

    So if “agree to disagree” is not the answer, what is?

    There is no one-time process that will fix all conflict over the course of a family dinner. These techniques take time, patience and compassion – all things that can be in short supply amid conflict. However, there are two techniques I not only recommend to others, but I use in my own conflicts: “looping for understanding” and “reframe and pivot.”

    Getting in the loop

    Looping, which was originally developed for legal mediation, helps both people in a conversation understand each other. Feeling misunderstood tends to escalate conflict, so this is a great starting place.

    During a “loop,” each person uses active listening, meaning they pay careful attention to what their partner is saying without judgment or interruptions. Then the listener shows their understanding by using what’s called “empathic paraphrase”: restating what they heard from the speaker, but also what emotions they perceived. Finally, they ask the original speaker for confirmation.

    That might sound something like this:

    So if I understand what you are saying, you think that people should not have to get a flu shot at your office because you are not sure if it’s effective, and you’re frustrated that you are being told what to do by your company. Do I have that right?

    If the speaker says no, then the listener “loops” by asking them to explain what they got wrong, and tries to paraphrase again. The participants keep looping until the answer to “Did I get that right?” is an emphatic “yes.” This practice ensures that both people are sure of the actual issue at hand.

    Looping has other benefits, too. In one study, emphatic paraphrasing not only made participants less anxious but also made the speaker see the paraphraser in a more positive light. Feeling fully heard and understood can go a long way to turning down the heat on difficult conversations.

    The goal of ‘looping’ is to make sure you understand the other person’s perspective – and the real issue at stake.
    FG Trade/E+ via Getty Images

    Framing common ground

    However, that understanding may not be enough. Once both parties understand each other, another technique, “reframing,” can help pivot the conversation away from confrontation and move toward resolution.

    In reframing, the speakers find and discuss a single point of agreement. By emphasizing what they agree about, instead of what they disagree about, they look for a starting place to tackle the problem together, instead of facing off.

    For example:

    I think you and I can both agree that we want to keep the family safe. However, I think we disagree about what role having a gun in the house would play in that safety. Is that right?

    Finding a point of agreement is not always possible. However, this reframing presents both communicators as having a key shared value – a starting place for a more constructive discussion. Reframing also moves the conversation away from inflammatory language that could automatically reignite the fight. `

    No magic bullet

    No technique will ever be a perfect, one-size-fits-all solution for every relationship – or a quick fix. Careful communication can be mentally exhausting, and pressing pause is always OK:

    I don’t think we are going to solve our nation’s financial issues tonight, but thank you for talking about it. Let’s keep doing it. But for now, I think there’s pie. Want some?

    It’s also important to accept that not all relationships can or should be saved. However, it is always good to know that the relationship ended for a clear reason, and not over a misunderstanding that was never addressed.

    Hopefully, though, these tactics will help keep communication open and relationships healthy, no matter what topic is brought up at dinner.

    Lisa Pavia-Higel is affiliated with Braver Angels, a non-profit organization that facilitates conversations across the political divide. She is no longer active in the organization but was trained as a workshop facilitator.

    – ref. ‘Agreeing to disagree’ is hurting your relationships – here’s what to do instead – https://theconversation.com/agreeing-to-disagree-is-hurting-your-relationships-heres-what-to-do-instead-252687

    MIL OSI – Global Reports –

  • MIL-OSI Global: AI is giving a boost to efforts to monitor health via radar

    Source: The Conversation – USA – By Chandler Bauder, Electronics Engineer, U.S. Naval Research Laboratory

    AI-powered radar could enable contactless health monitoring in the home. Chandler Bauder

    If you wanted to check someone’s pulse from across the room, for example to remotely monitor an elderly relative, how could you do it? You might think it’s impossible, because common health-monitoring devices such as fingertip pulse oximeters and smartwatches have to be in contact with the body.

    However, researchers are developing technologies that can monitor a person’s vital signs at a distance. One of those technologies is radar.

    We are electrical engineers who study radar systems. We have combined advances in radar technology and artificial intelligence to reliably monitor breathing and heart rate without contacting the body.

    Noncontact health monitoring has the potential to be more comfortable and easier to use than traditional methods, particularly for people looking to monitor their vital signs at home.

    How radar works

    Radar is commonly known for measuring the speed of cars, making weather forecasts and detecting obstacles at sea and in the air. It works by sending out electromagnetic waves that travel at the speed of light, waiting for them to bounce off objects in their path, and sensing them when they return to the device.

    Radar can tell how far away things are, how fast they’re moving, and even their shape by analyzing the properties of the reflected waves.

    Radar can also be used to monitor vital signs such as breathing and heart rate. Each breath or heartbeat causes your chest to move ever so slightly – movement that’s hard for people to see or feel. However, today’s radars are sensitive enough to detect these tiny movements, even from across a room.

    Advantages of radar

    There are other technologies that can be used to measure health remotely. Camera-based techniques can use infrared light to monitor changes in the surface of the skin in the same manner as pulse oximeters, revealing information about your heart’s activity. Computer vision systems can also monitor breathing and other activities, such as sleep, and they can detect when someone falls.

    However, cameras often fail in cases where the body is obstructed by blankets or clothes, or when lighting is inadequate. There are also concerns that different skin tones reflect infrared light differently, causing inaccurate readings for people with darker skin. Additionally, depending on high-resolution cameras for long-term health monitoring brings up serious concerns about patient privacy.

    Radar sees the world in terms of how strongly objects in its view reflect the transmitted signals. The resolution of images it can generate are much lower than images cameras produce.
    Chandler Bauder

    Radar, on the other hand, solves many of these problems. The wavelengths of the transmitted waves are much longer than those of visible or infrared light, allowing the waves to pass through blankets, clothing and even walls. The measurements aren’t affected by lighting or skin tone, making them more reliable in different conditions.

    Radar imagery is also extremely low resolution – think old Game Boy graphics versus a modern 4K TV – so it doesn’t capture enough detail to be used to identify someone, but it can still monitor important activities. While it does project energy, the amount does not pose a health hazard. The health-monitoring radars operate at frequencies and power levels similar to the phone in your pocket.

    Radar + AI

    Radar is powerful, but it has a big challenge: It picks up everything that moves. Since it can detect tiny chest movements from the heart beating, it also picks up larger movements from the head, limbs or other people nearby. This makes it difficult for traditional processing techniques to extract vital signs clearly.

    To address this problem we created a kind of “brain” to make the radar smarter. This brain, which we named mm-MuRe, is a neural network – a type of artificial intelligence – that learns directly from raw radar signals and estimates chest movements. This approach is called end-to-end learning. It means that, unlike other radar plus AI techniques, the network figures out on its own how to ignore the noise and focus only on the important signals.

    In our study, we used AI to transform raw, unprocessed radar signals into vital signs waveforms of one or two people.
    Chandler Bauder

    We found that this AI enhancement not only gives more accurate results, it also works faster than traditional methods. It handles multiple people at once, for example an elderly couple, and adapts to new situations, even those it didn’t see during training – such as when people are sitting at different heights, riding in a car or standing close together.

    Implications for health care

    Reliable remote health monitoring using radar and AI could be a major boon for health care. With no need to touch the patient’s skin, risks of rashes, contamination and discomfort could be greatly reduced. It’s especially helpful in long-term care, where reducing wires and devices can make life significantly easier for patients and caregivers.

    Imagine a nursing home where radar quietly watches over residents, alerting caregivers immediately if someone has breathing trouble, falls or needs help. It can be implemented as a home system that checks your breathing while you sleep – no wearables required. Doctors could even use radar to remotely monitor patients recovering from surgery or illness.

    This technology is moving quickly toward real-world use. In the future, checking your health could be as simple as walking into a room, with invisible waves and smart AI working silently to take your vital signs.

    Chandler Bauder receives funding from the NSF.

    Aly Fathy receives funding from NSF and work for university of Tennessee

    – ref. AI is giving a boost to efforts to monitor health via radar – https://theconversation.com/ai-is-giving-a-boost-to-efforts-to-monitor-health-via-radar-253325

    MIL OSI – Global Reports –

  • MIL-OSI Global: From the Chinese Exclusion Act to pro-Palestinian activists: The evolution of politically motivated deportations

    Source: The Conversation – USA – By Rick Baldoz, Associate Professor of American Studies, Brown University

    New York Tribune of Jan. 3, 1920, announcing massive roundups of ‘aliens’ deemed to be ‘Reds.’ Library of Congress

    The recent deportation orders targeting foreign students in the U.S. have prompted a heated debate about the legality of these actions. The Trump administration made no secret that many individuals were facing removal because of their pro-Palestinian advocacy.

    In recent months, the State Department has revoked hundreds of visas of foreign students with little explanation. On April 25, 2025, the administration restored the legal status of many of those students, but warned that the reprieve was only temporary.

    Because of their tenuous legal status in the U.S., immigrant activists are vulnerable to a government seeking to stifle dissent.

    Critics of the Trump administration have challenged the legality of these removal orders, arguing that they violate constitutionally protected rights, including freedom of speech and due process.

    The administration asserts that the executive branch has nearly absolute authority to remove immigrants. The White House has cited legislation passed during the peak of the nation’s Cold War hysteria, like the McCarran-Walter Act of 1952, which expanded the government’s deportation powers.

    I’m a historian of immigration, U.S. empire and Asian American studies. The current removal orders targeting student activists echo America’s long and lamentable past of jailing and expelling immigrants because of their race or what they say or believe – or all three.

    The arrest of Turkish graduate student Rümeysa Öztürk by Department of Homeland Security agents in Somerville, Mass., on March 25, 2025.

    Where it began

    The United States’ current deportation process traces its roots to the late 19th century as the nation moved to exercise federal control of immigration.

    The impetus for this shift was anti-Chinese racism, which reached a fever pitch during this period, culminating in the passage of laws that restricted Chinese immigration.

    The influx of Chinese immigrants to the West Coast during the mid-to-late 19th century, initially fueled by the California Gold Rush, spurred the rise of an influential nativist movement that accused Chinese immigrants of stealing jobs. It also claimed that they posed a cultural threat to American society due to their racial otherness.

    The Geary Act of 1892 required Chinese living in the U.S to register with the federal government or face deportation.

    The Supreme Court addressed the constitutionality of these statutes in 1893 in the case of Fong Yue Ting v. United States. Three plaintiffs claimed that anti-Chinese legislation was discriminatory, violated constitutional protections prohibiting unreasonable search and seizure, and contravened due process and equal protection guarantees.

    The Supreme Court affirmed the Geary Act’s deportation procedures, formulating a novel legal precept known as the plenary power doctrine that remains a key tenet of U.S. immigration law today.

    Court confirms the law

    The doctrine included two key assertions.

    First, the federal government’s authority to exclude and deport aliens was an inherent and unqualified feature of American sovereignty. Second, immigration enforcement was the exclusive domain of the congressional and executive branches that were charged with protecting the nation from foreign threats.

    The court also ruled that the deportation of immigrants in the country lawfully was a civil, rather than criminal matter, which meant that constitutional protections like due process did not apply.

    The government ramped up deportations in the aftermath of World War I, fueled by wartime xenophobia. American officials singled out foreign-born radicals for deportation, accusing them of fomenting disloyalty.

    The front page of the Ogden Standard, from Ogden City, Utah, on Nov. 8, 1919, announcing the arrest and planned deportation of ‘alien Reds.’
    Library of Congress

    Attorney General A. Mitchell Palmer, who ordered mass arrests of alleged communists, pledged to “tear out the radical seeds that have entangled Americans in their poisonous theories” and remove “alien criminals in this country who are directly responsible for spreading the unclean doctrines of Bolshevism.”

    This period marked a new era of removals carried out primarily on ideological grounds. Jews and other immigrants from southern and eastern Europe were disproportionately targeted, highlighting the cultural affinities between anti-radicalism and racial and ethnic chauvinism.

    ‘Foreign’ agitators

    The campaign to root out so-called subversives living in the United States reached its apex during the 1940s and 1950s, supercharged by figures like anti-communist crusader Sen. Joseph McCarthy and FBI Director J. Edgar Hoover.

    The specter of foreign agitators contaminating American political culture loomed large in these debates. Attorney General Tom Clark testified before Congress in 1950 that 91.4% of the Communist Party USA’s leadership were “either foreign stock or married to persons of foreign stock.”

    Congress passed a series of laws during this period requiring that subversive organizations register with the government. They also expanded the executive branch’s power to deport individuals whose views were deemed “prejudicial to national security,” blurring the lines between punishing people for unlawful acts – such as espionage and bombings – and what the government considered unlawful beliefs, such as Communist Party membership.

    While deporting foreign-born radicals had popular support, the banishment of immigrants for their political beliefs raised important constitutional questions.

    Harry Bridges, a West Coast labor leader, and his daughter, Jacqueline, 14, as they listen to proceedings during Bridges’ deportation hearing in San Francisco in July 1939.
    Underwood Archives/Getty Images

    Prosecution or persecution?

    In a landmark case in 1945, Wixon v. Bridges, the Supreme Court did assert a check on the power of the executive branch to deport someone without a fair hearing.

    The case involved Harry Bridges, Australian-born president of the International Longshoremen and Warehousemen’s Union. Bridges was a left-wing union leader who orchestrated a number of successful strikes on the West Coast. Under his leadership, the union also took progressive positions on civil rights and U.S. militarism.

    The decision in the case hinged on whether the government could prove that Bridges had been a member of the Communist Party, which would have made him deportable under the Smith Act, which proscribed membership in the Communist Party.

    Since no proof of Bridges’ membership existed, the government relied on dodgy witnesses and assertions that Bridges was aligned with the party because he shared some of its political positions. Accusations of “alignment” with controversial political organizations are similar to the charges made against foreign students currently at risk of deportation by the Trump administration.

    The Supreme Court vacated Bridges’ deportation order, declaring that the government’s claim of “affiliation” with the Communist Party was too vaguely defined and amounted to guilt by association.

    As the excesses and abuses of the McCarthy era came to light, they invited greater scrutiny about the dangers of unchecked executive power. Some of the more draconian statutes enacted during the Cold War, like the Smith Act, have been overhauled. The federal courts have toggled back and forth between narrow and liberal interpretations of the Constitution’s applicability to immigrants facing deportation – shifts that reflect competing visions of American nationhood and the boundaries of liberal democracy.

    From union leaders to foreign students

    There are some striking parallels between the throttling of civil liberties during the Cold War and President Donald Trump’s crusade against foreign students exercising venerated democratic freedoms.

    Foreign students appear to have replaced the immigrant union leaders of the 1950s as the targets of government repression. Presumptions of guilt based on hyperbolic claims of affiliation with the Communist Party have been replaced by allegations of alignment with Hamas.

    As in the past, these invocations of national security offer the pretext for the government’s efforts to stifle dissent and to mandate political conformity.

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

    – ref. From the Chinese Exclusion Act to pro-Palestinian activists: The evolution of politically motivated deportations – https://theconversation.com/from-the-chinese-exclusion-act-to-pro-palestinian-activists-the-evolution-of-politically-motivated-deportations-254683

    MIL OSI – Global Reports –

  • MIL-OSI Video: UK Tim Peake on the future of space | Lords committees

    Source: United Kingdom UK House of Lords (video statements)

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
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    #HouseOfLords #UKParliament #LordsCommittees #Space #stem

    https://www.youtube.com/watch?v=4zn1c5kMTZc

    MIL OSI Video –

  • MIL-OSI Russia: Country of migrants: the role of migration in regional development

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Major socio-political events, such as collectivization, caused mass internal migration in the USSR. Tens of thousands of people moved to new places to establish their daily lives and find work. These processes significantly changed the social, national and religious composition of the population of the regions, influenced economic development and the formation of healthcare and education infrastructure. Common features and characteristics of migration in the Perm region and Tuva were discussed at the round table of the “Mirror Laboratories” of the Yasinsky scientific conference.

    Internal migration in the USSR

    At the anniversary XXV Yasinsky (April) Conference The HSE hosted a round table discussion entitled “The History of Migration in the USSR: Regional Aspect.” It was organized as part of the Mirror Laboratories project, which brings together scientists from the HSE Perm campus and Tuva State University. The round table was moderated by Professor Faculty of Social, Economic and Computer Sciences, National Research University Higher School of Economics in Perm Sergey Kornienko.

    Vera Damdynchap, Head of the Department of General History, Archaeology and Documentation of the Faculty of History of Tuva State University, and Arzhana Nurzat, Senior Lecturer of the Department, presented a report entitled “Migration, Urbanization and Collectivization: Key Aspects of Social Transformation in Tuva (1944–1959).” Vera Damdynchap noted that Tuva’s accession to the USSR in 1944 accelerated the transformation of the economic structure.

    She said that by 1944 collectivization was not completed, and a significant part of the population was engaged in personal nomadic farming. Collectivization became an important element in the formation of the social structure of the population: by its end in 1955, the share of collective farmers reached 61.5% of the rural population of Tuva.

    At the same time, coal mining began in the autonomous region and enterprises in other industries began operating. This also changed the settlement structure of the population: the share of the urban population in 1944-58 increased from 6% to 33%. A particularly significant influx was recorded in the capital of the region, Kyzyl, as well as in the new cities and workers’ settlements of Chadan, Turan and Shagonar. It is significant that the total urban population increased by 1.4 times over 15 years, while its part from migrants increased by 7.6 times due to the relocation of rural residents and the arrival in Tuva of engineering and technical personnel and workers of new enterprises.

    The rapid growth of the urban population exacerbated the housing problem, which they tried to solve through temporary housing and rapid construction. It is curious that about 30% of collective farmers were involved in construction, having built 1,660 houses and cultural and household facilities.

    At the same time, the development of virgin and fallow lands began, which increased the role of farming in agriculture and the economy as a whole.

    In the post-war years, the number of Russians and Ukrainians who came to Tuva increased approximately 4 times, and their share in the population increased to 41%.

    Vera Damdynchap noted that in the autonomous region, collectivization was less dramatic than in neighboring Russian regions or, for example, in Buryatia.

    The role of forced migrants

    Associate Professor Departments of Humanities Anna Kimerling, a professor at the Faculty of Social, Economic and Computer Sciences at the National Research University Higher School of Economics in Perm, presented a report entitled “Social Technologies of Integrating Forced Migrants into the Territorial Community of the Molotov Region in the 1940s and 1950s,” prepared jointly with Sergei Kornienko.

    She said that the study is based on archival documents and interviews, including those recorded by the German society “Renaissance”. The number of residents of the Molotov (Perm) region between the censuses of 1939 and 1959 increased by 37.5%, and the regional center – by two times. For comparison: during this period, the population of the USSR increased by 9.5%.

    Among the forced migrants were about 40,000 Soviet Germans – special settlers and labor army soldiers. Until the Decree “On the lifting of restrictions on the legal status of Germans and their family members in special settlements” was adopted on December 13, 1955, they could not leave their places of residence and work.

    Economic adaptation played an important role. By the early 1950s, 11% of forced migrants had built their own homes, half had vegetable gardens, and a third had small cattle. Social and cultural factors also played a significant role. The chances of adaptation were increased by the marriage of a forced migrant to a local resident or a deportee, as well as the birth of children in the new family. This and joint work at an enterprise increased the chances of receiving housing and rations, which were used not only by workers, but also by older family members.

    Former forced migrants recalled that the attitude towards “Russian Germans” was wary. The local population was not always ready to help them, but in places of special settlements, where most of the residents were repressed, rapprochement was faster.

    The speaker named another adaptation factor as education, cultural and human capital, or a skill valued at the place of work. A labor army soldier who knew how to operate a tractor received a good ration at the logging sites. Another exile drove the head of the settlement and, thanks to personal communication, received the position of manager of a bread store, which dramatically improved the living conditions of his family.

    Over time, forced migrants played a significant role in the development of the region. For example, one of the exiled Germans later became the chief architect of the Solikamsk region, Yevgeny Wagner became the rector of the regional medical institute, and Anatoly Bartolomey became the rector of the polytechnic.

    Professor of the Department of Documentation and Information Support of the Department of History of the Ural Federal University Oleg Gorbachev asked whether individual examples of successful careers of exiled settlers can be considered a reflection of the liberalization of the regime in relation to them. According to Anna Kimerling, cases of transfer to a responsible position are few and they occurred mainly in the post-Stalin period, which reflected a certain evolution of the authorities’ attitude towards the repressed.

    Ethnic and religious aspects

    Head of the Department of Russian History at Tuva University Zoya Dorzhu and Associate Professor of the Department Alena Storozhenko presented a report on “Migration Processes in Tuva in the 1920s-50s. Ethno-confessional Aspect”. State sovereignty and autonomy formed a special state-political context of relations with neighboring regions, which also influenced migration.

    The speakers highlighted several periods of the authorities’ attitude to migration. With the establishment of the independent Tuvan People’s Republic in 1921, the authorities sought to limit the influx of Russians into its territory. Thus, checkpoints were established on the border, which, however, did not stop migration. As the country drew closer to the USSR in the 1930s, migration controls on the border were relaxed. Migration was also accelerated by the TPR authorities’ request to Moscow to send specialists. Often, the resettlements of the 1920s and 1930s were caused by the desire of some residents of nearby regions of the USSR to avoid repression and, at the same time, the desire to find a place for productive agriculture. After joining the USSR in 1944, the restrictions were lifted.

    Tuvans remained in the majority, but their share in the total population of the republic and the region fluctuated significantly. In 1921 and 1931 it was about 80%, in 1945 – 85%, and by 1959 due to mass migration it had dropped to 57%.

    Migration had a significant impact on the ethnic and religious composition of the population. Buddhists, shamanists, Orthodox Christians and pagans were represented in the republic. Moreover, the Old Believers, who appeared in Tuva back in the 19th century, integrated into its territory, and at the time of the creation of the TNR they constituted a third of the Russian-speaking residents of the republic.

    Sergey Kornienko wondered whether it was possible to find common themes in studying the migration processes of Tuva and the Perm (Molotov) region. According to Alena Storozhenko, the Uralians made up a significant portion of the Old Believers who moved to Tuva, but it is still difficult to accurately determine their share in the number of migrants.

    Organized labor migration

    Associate Professor of the Department of Humanities of the Faculty of Social, Economic and Computer Sciences of the National Research University Higher School of Economics in Perm Alexander Glushkov and Master’s student of the National Research University Higher School of Economics in Moscow Kristina Kozlova presented a report “Attracting Labor Migrant Workers to the USSR in the Late 1940s – 1950s: A Comparative Analysis of Agitation (Based on the Example of Enterprises in the Molotov Region of the RSFSR).” Alexander Glushkov recalled that in 1947, organized labor migrations resumed in the USSR. In the Molotov Region, workers were attracted to work in the coal industry, in logging enterprises and collective farms.

    Kristina Kozlova said that regional and republican authorities were engaged in agitation. In 1952, the regional executive committee issued a resolution defining the rules for selecting recruiters for resettlement and preparing agitation and reference materials.

    Among them, visual (posters) and written materials and oral propaganda can be singled out. Films were another form of propaganda. An important role was also played by materials in newspapers and magazines, including special issues of large-circulation newspapers, as well as brochures about the region, which included information about the region, as well as letters and stories from settlers.

    The recruiters’ lectures were devoted to the state and prospects of the region’s economy, as well as the international position of the USSR. Aleksandr Glushkov reported that the agitation did not cease even after the resettlement: the new residents of the region were explained the labor tasks facing them, and the authors of articles and posters also sought to reduce the number of resettlers returning home.

    The speakers compared the newspapers of two large enterprises of the region — the KamGESstroy and Molotovles trusts — before and after Stalin’s death, the forms of agitation and key narratives. The analysis showed that in the late Stalin period, non-material motives stood out: prestige, the call of the party and the desire to be useful to the Motherland. After Stalin’s death, material motivation increased: workers were offered to earn money, quickly improve their living conditions, including by acquiring a new profession. Agitation aimed at securing the settlers was focused on money and privileges.

    Kristina Kozlova summed up: a comparative analysis of the agitation of the late 1940s and mid-1950s allows us to identify common motives and a gradual transition to the prevalence of material incentives over ideological ones, although the latter did not disappear. This reflected the gradual transformation of Soviet society during the thaw.

    AI to the rescue

    Sergey Kornienko presented the report “Studying the History of Migration in the Digital Environment: Regional Aspect” (based on the materials of the joint project of HSE Perm and Tuva State University “Migration in the Socio-Economic, Demographic, Cultural and Human Dimensions”. HSE Mirror Laboratories Program, 2024-26).

    He identified three areas of digital scientific humanities research: creation and organization of digital versions of historical and historiographic sources; development and adaptation of methods, technologies and tools for digital research; representation of data and research results.

    During the project, its participants create digital versions of historical sources on the history of migration, including in the form of tables and data sets, information systems and databases.

    The professor said that rather complex types of sources have to be converted into digital format, in particular, lists of settlers, echelon lists, as well as household books describing the dwellings, livestock and inventory of settlers. Despite the development of technology, it is often necessary to resort to manual or semi-automatic digitization. Students are involved in this work, acquiring useful skills in digitizing documents. Digitized sources are convenient for conversion into tabular and matrix forms.

    Digital processing of document complexes allows us to eliminate gaps in some points of individual materials (for example, the absence of the year of birth or previous place of residence of a migrant), and to create metadata.

    To study propaganda materials for settlers of the 1940s and 50s, full-text resources were created, prepared for processing by computer methods and tools. In particular, this form of processing was used for the corpus of memoirs of settlers who moved to the Kaliningrad and Molotov regions.

    In addition, scientists conduct corpus studies using linguistic methods.

    Sergey Kornienko emphasized that digital methods allow increasing the reliability of research, introducing elements of novelty, introducing new sources more fully and processing old ones more effectively. This helps to better understand the impact of migration processes on the social structure and other components of migrants’ lives.

    The project participants will continue to use Data Science methods and apply neural network modeling – variants of artificial intelligence, the professor concluded.

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

    MIL OSI Russia News –

  • MIL-OSI USA: U.S. imports of major transportation fuels decreased in 2024

    Source: US Energy Information Administration

    In-brief analysis

    April 29, 2025

    U.S. imports of petroleum products decreased by 210,000 barrels per day (b/d) in 2024 to average 1.8 million b/d. Imports of all major transportation fuels, such as motor gasoline, diesel, and jet fuel, as well as other products, such as unfinished oils, decreased.

    Motor gasoline makes up the largest share of U.S. petroleum product imports because it is the most widely consumed petroleum fuel in the United States. In 2024, the United States imported 651,000 b/d of motor gasoline, about 36% of all petroleum product imports and 75,000 b/d less than in 2023. U.S. gasoline consumption in 2024 was largely unchanged from 2023; inventories fell in 2024 after they had increased in 2023, reflecting the decrease in imports.

    Although the United States imports more gasoline than any other petroleum product, the United States exported 226,000 b/d more gasoline than it imported in 2024. The United States has been a net exporter of gasoline every year since 2016.

    U.S. petroleum product exports primarily originate from the Gulf Coast due to the region’s concentrated refining capacity and proximity to major ports. U.S. Gulf Coast refinery production exceeds regional market demand, resulting in exports by waterborne tankers. Although Gulf Coast refineries have a wide distribution network, infrastructure constraints limit their ability to supply fuels to all parts of the country. Consequently, certain regions rely on imported petroleum products instead of transporting them from the Gulf Coast.

    U.S. gasoline imports came from a variety of countries, but the largest five suppliers were Canada, the Netherlands, India, the United Kingdom, and South Korea. All these countries except Korea are among the top five sources for U.S. gasoline imports over the last 10 years (2014–23). Imports from Canada are the primary source of gasoline for several northeastern states and make up a small share in other markets throughout the country.

    Canada is also the largest source of distillate imports into the United States. The United States imported 144,000 b/d of distillate fuel oil in 2024, 95% of which came from Canada. U.S. imports of distillate primarily come into the East Coast (112,000 b/d, or 78%). In addition to use as a transportation fuel, distillate imports are also the primary source of home heating oil for the U.S. Northeast.

    Jet fuel imports in 2024 totaled 109,000 b/d, down from 127,000 b/d in 2023. Jet fuel imports flowed primarily to the West Coast. South Korea supplied 77,000 b/d, or 71%, of U.S. jet fuel imports last year. The next-largest suppliers were Canada, China, India, and Kuwait.

    Imports of petroleum products other than gasoline, distillate fuel oil, and jet fuel primarily consisted of residual fuel oil for use as a marine bunker fuel and unfinished oils used as feedstock for U.S. refineries to produce other finished products.

    Principal contributor: Kevin Hack

    MIL OSI USA News –

  • MIL-OSI: Nokia demonstrates the power of its flagship Wi-Fi 7 solution at Apex Legends Global Series esports gaming event

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia demonstrates the power of its flagship Wi-Fi 7 solution at Apex Legends Global Series esports gaming event

    • Nokia Beacon 24 Wi-Fi 7 residential gateway with advanced gaming optimization applications from Corteca delivers world class connectivity and ultra-low latency for ultimate gaming experience.
    • Fans and gamers attending Apex Legends Global Series (ALGS) can visit Nokia’s booth to test the power of its Wi-Fi 7 solution in a unique 1:1 Apex Legends match against a mystery pro.
    • Nokia WiFi Beacons allow players to compete and excel on the world gaming scene

    30 April 2025
    Espoo, Finland – Nokia today announced it will showcase its Beacon 24 device at the ALGS esports gaming event, allowing fans and gamers to see firsthand the power of its Wi-Fi 7 solution for eGaming applications. Located in the heart of the convention center’s challenging Wi-Fi environment, Nokia’s demonstration, in partnership with Qualcomm, SONY, CORSAIR and EA, offers visitors an exclusive chance to battle a mystery pro head-to-head in the Apex Legends game, powered solely by Nokia’s Wi-Fi device. Visitors will also be able to take on some of their favorite gaming content creators as part of a “take-over” event taking place at the Nokia booth.

    The Nokia WiFi Beacon 24 embeds unique latency and queuing technology to give service providers a powerful Wi-Fi gateway solution that can rival any commercial and retail device on the market. Equipped with an advanced gaming optimization application available on Nokia’s Corteca platform, the Wi-Fi 7 device delivers the ultimate end-user experience, delivering gaming-level latency that optimizes performance.

    “As a gamer, I thought Wi-Fi gaming was a fantasy—speed is everything, and lag can kill your game. But Nokia is changing that with devices that can deliver a wireless gaming experience as good as wired, if not better. I was blown away by how easy the gateway was to set up and by its overall performance. I’m all in for Wi-Fi gaming with Nokia,” said Josh Zlatinszky aka NMoose, a professional gamer and content creator.

    “Last year, our Beacon devices powered the first Wi-Fi Apex Legends tournament, proving wireless eGaming is possible. Today, we’re upping the ante, showcasing their strength in one of the world’s most difficult environments for Wi-Fi, a busy convention center hosting an esports event. This can be a game changer for operators that want to offer more advanced Wi-Fi, latency, and performance management features to deliver the ultimate gaming experience,” said Gino Dion, Head of Innovation Solutions, Bell Labs Fellow at Nokia.
    ALGS attendees that want to try their hand at beating the best in Apex Legends or want to see the latest WiFi Nokia devices powerful enough to support virtually any eGaming environment, can visit its booth in Hall J at the New Orleans Ernest N. Morial Convention Center.

    Multimedia, technical information and related news 
    Product Page: Nokia WiFi Beacon 24
    Web Page: Apex-over-WiFi

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

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    The MIL Network –

  • MIL-OSI: Pythian Positioned as Oracle Database@Google Cloud Leader with Acquisition of Rittman Mead

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, April 30, 2025 (GLOBE NEWSWIRE) — Pythian Services Inc. (“Pythian”), a leading global services company specializing in data, analytics, and AI solutions, today announced the acquisition of globally recognized Oracle data and analytics consultancy Rittman Mead. The acquisition significantly enhances Pythian’s Oracle footprint, expands its geographic market presence in the United Kingdom and Europe, and strengthens the company’s Oracle Database@Google Cloud capabilities—a powerful multicloud partnership that accelerates modernization for customers.

    The acquisition combines Pythian’s expertise in data, analytics and AI with Rittman Mead’s Oracle specializations. Pythian, a 2025 Google Cloud Partner of the Year for Databases, will add more Oracle ACEs to its roster of consultants. The synergy resulting from the acquisition will enable Pythian to offer an even wider range of advanced Oracle services to a broader and more global customer base.

    “Rittman Mead and Pythian have worked together for more than 12 years, and we’re aligned in our cultures and values,” states Jon Mead, Founder and President, Rittman Mead. “Their technical expertise and the value of sharing information—consultants contributing to technical communities through thought leadership—along with a shared client-first approach to delivering projects, is what solidified Pythian as the right choice.” 

    As a leading Oracle services provider, Rittman Mead has an exceptional reputation for delivering critical consultancy services to customers in the U.K., Europe and the United States. The company brings a unique level of expertise and experience in Oracle autonomous data warehouse (EDW), data platforms, data lakes, data lakehouses, and more, to bring advanced analytics to their shared clients. Rittman Mead has a range of accelerators, IP and toolkits that will further complement Pythian’s existing suite of services. Over the last 20 years, Rittman Mead’s team of analysts, architects, engineers and delivery managers have successfully delivered a wide range of data and analytics systems, from simple data marts to multi-workstream data transformations.

    “The combination of Rittman Mead and Pythian offers an unmatched breadth and depth of Oracle expertise in the market,” said Mead. “Our exceptional people, advanced Oracle capabilities, and focus on strategic solutions perfectly complement Pythian’s existing capabilities, allowing us to offer even greater value to customers and accelerate our engagement in the data and AI services market.”

    Through the acquisition, Pythian gains an enhanced U.K. presence and access to greater Oracle-ecosystem expertise and influence—software skills, marketplace standing and strategic relationships. Rittman Mead in turn benefits from Pythian’s Google Cloud Premier Partnership and 2025 Database Partner of the Year win, global reach, delivery capabilities and the broader spectrum of professional and managed services beyond the Oracle ecosystem. The partnership signals an elevated ability to deliver value on business critical projects along the data journey pathway, from data and cloud engagements to analytics and AI initiatives—no matter the platform or ecosystem.

    “We are seeing a widespread adoption of vendors and hyperscalers by companies that need specific technical expertise. The challenge for us was finding a partner that could broaden our existing portfolio of skills and vendors,” said Mead. “We’re excited to meet that challenge by joining forces with Pythian. There are two sides to that—there is the breadth of technology including Google, AWS, and Azure, as well as the depth of expertise to expand our joint data, analytics and AI services.”

    “This acquisition marks a pivotal moment in Pythian’s trajectory, solidifying our position as a global leader in data, analytics and AI solutions,” said Brooks Borcherding, Pythian’s Chief Executive Officer. “Rittman Mead’s stellar reputation, deep Oracle expertise, U.K. presence and cultural alignment make them an ideal partner to accelerate our mission to empower enterprises to maximize the value of their data and redouble their innovative efforts as it relates to AI readiness.”

    Pythian’s existing suite of data, analytics and AI services helps businesses transform with ease—no matter where they are in their journey. Businesses begin with a simple, strategic discussion with the Field CTO team. Field CTOs are IT executives that help customers define their data and AI strategies through transformation roadmapping sessions, including an AI Workshop, and serve as catalysts to expedited decision-making around pivotal strategies and technology solutions that drive customers toward the successful realization of their business goals. The acquisition will bolster Pythian’s ability to bring more change-making customers into the fold—instilling in them, through our subject matter experts, the key information and guidance that allows innovators to build momentum for their respective data-driven initiatives.

    Schedule your AI Workshop today.

    About Rittman Mead

    Founded in 2007, Rittman Mead quickly became a leader in Oracle Data Warehousing and Business Intelligence through successful projects, a popular blog, and community engagement. As the market evolved with open-source, big data, and cloud technologies, the company expanded its focus to data and analytics while maintaining its core ethos. Today, its partner and product portfolios reflect a recognition of multi-cloud and multi-vendor architectures. A dedicated R&D department explores emerging technologies and builds development frameworks. With over 15 years of experience, the company now provides hybrid solutions across a wide range of enterprise and open-source technologies, striving to be a global leader in the broader data and analytics landscape. 

    About Pythian

    Founded in 1997, Pythian is a leading data and AI services provider specializing in digital transformation and operational excellence for enterprise customers. We help organizations optimize their data estates, helping them to drive AI enablement, innovation, and growth. Through strategic consulting, managed services and cloud migrations, we enable cost savings, risk reduction and seamless operations while preparing businesses to adopt AI and for the future of data management. A Google Cloud Premier Partner with multiple Specializations, including Data Analytics, Marketing Analytics, Machine Learning and a certified Google Cloud MSP, we’ve delivered thousands of professional and managed services projects for leading enterprises. For more information, visit www.pythian.com or follow us on X, LinkedIn, and our Blog.

    Pythian Media Contacts        

    Matt Malanga
    Senior Vice President, Marketing
    mmalanga@pythian.com    		 Elisabeth Grant
    Branch Out Public Relations
    egrant@branchoutpr.com
    +1 612-599-7797    		  

    The MIL Network –

  • MIL-OSI: One Billion Served: Mashgin Racks Up Record AI-powered Checkout Transactions

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., April 30, 2025 (GLOBE NEWSWIRE) — Mashgin, the AI-powered checkout company, today announced that its checkout kiosks have processed over one billion transactions since the inception of the company. This achievement highlights a significant business and technology milestone in the adoption of Mashgin’s AI-powered technology across multiple sectors and locations: over 3,000 convenience stores, 150 sports venues, 50 airports, 50 college campuses, 30 cafes at ski resorts, and 100 hospitals now use Mashgin.

    Over the past three years, the company has seen explosive growth in both location count and transaction volume, increasing monthly transactions by 1,233% – from 3M transactions in March 2022 to 40M in March 2025. In the calendar year 2024, Mashgin processed over 440M transactions.

    Traditional self-checkout systems require bar code scanning, a slower, more tedious and error-riddled experience. Mashgin uses a more advanced approach: powerful computer vision and AI technology that enables consumers to ring up multiple items instantly – allowing them to simply place items on the tray, pay, and be on their way. It deploys advanced edge hardware and deep learning to achieve the level of speed and accuracy necessary to process transactions in retail environments that often contain many variables.

    The result is that transactions on Mashgin only take a few seconds, dramatically reducing lines and giving time back to customers and staff. When those lines shrink, more customers buy more often, increasing sales as much as 125% for businesses.

    “I’m honored to work on a system with this kind of impact on the world,” said Abhinai Srivastava, CEO and co-founder of Mashgin. “Time is precious, and whether it’s getting back to the ballgame, ski lift, or just home to your family a little faster – giving it back means a lot.”

    Mashgin calculates it has saved customers over 2,000 years of standing in line when compared to traditional checkout throughput in stadiums, resorts, cafes, and convenience stores around the world.

    “Reaching one billion transactions isn’t just a number; it reflects the immense trust our clients placed in us and the clear demand for a faster and smoother checkout experience,” said Mukul Dhankhar, CTO and co-founder of Mashgin. “What was once a luxury is quickly becoming a fundamental expectation, and we’re proud to play a role in helping multiple industries deliver the experience their customers want.”

    To grow so quickly, the company invested in more than just the core vision technology. Over the years, Mashgin worked to make it incredibly easy to deploy and scale the system. Each kiosk can learn new items in less than 30 seconds, then teach every other kiosk in the fleet what an object looks like. This speed in learning and sharing is pivotal to scaling across many locations with major partners like Circle K or managing many similar locations in one building like Soldier Field.

    Mashgin also invested heavily in integrating to the many software solutions that complete the dining and retail ecosystem, with over 50 integrations across payments, loyalty, campus cards, fuel pumps, and more.

    About Mashgin

    Mashgin is the world’s fastest checkout system, powered by AI and computer vision. By eliminating barcode scanning, Mashgin allows customers to simply place items on the tray, pay, and be on their way in under 10 seconds. With checkout speeds up to four times faster than traditional systems, Mashgin not only enhances customer satisfaction but also boosts revenue for retailers by reducing wait times and streamlining operations. Founded in 2014 and headquartered in Palo Alto, California, Mashgin is a privately held company backed by NEA, Matrix Partners, Susa Ventures, and Y Combinator. Follow Mashgin on LinkedIn or learn more about Mashgin at www.mashgin.com.

    Press Contact:
    Quinn Trask
    104 West on behalf of Mashgin
    Quinn.Trask@104west.com

    The MIL Network –

  • MIL-OSI: Alpine Banks of Colorado announces financial results for first quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    GLENWOOD SPRINGS, Colo., April 30, 2025 (GLOBE NEWSWIRE) — Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the first quarter ended March 31, 2025. The Company reported net income of $14.3 million, or $133.99 per basic Class A common share and $0.89 per basic Class B common share, for first quarter 2025.

    Highlights in first quarter 2025 include:

    • Basic earnings per Class A common share increased 3.9%, or $5.07, during first quarter 2025.
    • Basic earnings per Class A common share increased 36.3%, or $35.67, compared to first quarter 2024.
    • Basic earnings per Class B common share increased 3.9%, or $0.03, during first quarter 2025.
    • Basic earnings per Class B common share increased 36.3%, or $0.23, compared to first quarter 2024.
    • Net interest margin for first quarter 2025 was 3.38%, compared to 3.18% in fourth quarter 2024, and 2.81% in first quarter 2024.

    “We are pleased with the start to 2025 as shown in our first quarter 2025 financial performance,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman. “Customer deposit growth continued, led by a strong winter season in our resort markets. Additionally, we saw our loan portfolio totals begin growing again following a slow 2024. Net income increased 35% from the first quarter 2024. During first quarter 2025 we launched Mission Possible: Operation Streamline, our initiative to simplify and streamline operations. We anticipate modules of Mission Possible: Operation Streamline to continue through 2027.”

    Net Income

    Net income for first quarter 2025 and fourth quarter 2024 was $14.3 million and $13.8 million, respectively. Interest income decreased $0.7 million in first quarter 2025 compared to fourth quarter 2024, primarily due to decreases in yields on balances due from banks, decreased volume in the securities portfolio and two fewer days in the quarter. These decreases were slightly offset by increases in yields on the loan and securities portfolios and increases in volume in the loan portfolio and balances due from banks. Interest expense decreased $3.2 million in first quarter 2025 compared to fourth quarter 2024, primarily due to decreases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits. These increases were partially offset by a decrease in volume of deposits. Noninterest income decreased $0.8 million in first quarter 2025 compared to fourth quarter 2024, primarily due to decreases in earnings on bank‐owned life insurance and service charges on deposit accounts, partially offset by increases in other income. Noninterest expense increased $0.8 million in first quarter 2025 compared to fourth quarter 2024, due to increases in salary and employee benefit expenses and occupancy expenses, slightly offset by decreases in furniture and fixture expenses and other expenses. A provision for loan losses of $1.8 million was recorded in first quarter 2025 compared to a $1.5 million provision for loan losses recorded in the fourth quarter 2024.

    Net income for the three months ended March 31, 2025, and March 31, 2024, was $14.3 million and $10.6 million, respectively. Interest income increased $3.2 million in first quarter 2025 compared to first quarter 2024, primarily due to increases in volume in the loan portfolio and balances due from banks, along with increases in yields on the loan portfolio, the securities portfolio, and balances due from banks. These increases were slightly offset by a decrease in volume in the securities portfolio and a decrease in yield on the balances due from banks. Interest expense decreased $4.9 million in first quarter 2025 compared to first quarter 2024, primarily due to decreases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits. These decreases were partially offset by an increase in the volume of deposit balances. Noninterest income increased $1.1 million in 2025 compared to 2024, primarily due to increases in earnings on bankowned life insurance, service charges on deposit accounts, and other income. Noninterest expense increased $2.2 million in 2025 compared to 2024, due to increases in other expenses, salary and employee benefit expenses, and occupancy expenses, partially offset a decrease in furniture and fixtures expenses, Provision for loan losses increased $2.5 million in the three months ended March 31, 2025 due to loan portfolio increases and a small volume of loan charge‐offs, compared to the three months ended March 31, 2024.

    Net interest margin increased from 3.18% to 3.38% from fourth quarter 2024 to first quarter 2025. Net interest margin for the three months ended March 31, 2025, and March 31, 2024, was 3.38% and 2.81%, respectively.

    Assets

    Total assets increased $139.7 million, or 2.1%, to $6.64 billion as of March 31, 2025, compared to December 31, 2024, primarily due to increased cash and due from banks and loans receivable partially offset by decreased investment securities balances. The Alpine Bank Wealth Management* division had assets under management of $1.32 billion on March 31, 2025, compared to $1.37 billion on December 31, 2024, a decrease of 3.8%.

    Loans

    Loans outstanding as of March 31, 2025, totaled $4.1 billion. The loan portfolio increased $66.0 million, or 1.6%, during first quarter 2025 compared to December 31, 2024. This increase was driven by a $48.6 million increase in real estate construction loans, a $22.3 million increase in commercial real estate loans and a $1.7 million increase in consumer loans. This increase was slightly offset by a $3.4 million decrease in residential real estate loans and a $3.1 million decrease in commercial and industrial loans.

    Loans outstanding as of March 31, 2025, reflected an increase of $96.5 million, or 2.4%, compared to loans outstanding of $4.0 billion on March 31, 2024. This growth was driven by a $63.4 million increase in commercial real estate loans, a $30.4 million increase in real estate construction loans and a $7.8 million increase in consumer loans. This increase was slightly offset by a $3.4 million decrease in commercial and industrial loans and a $2.0 million decrease in residential real estate loans.

    Deposits

    Total deposits increased $118.0 million, or 2.0%, to $5.9 billion during first quarter 2025 compared to December 31, 2024, primarily due to a $104.5 million increase in money market accounts, a $74.2 million increase in demand deposits, a $27.2 million increase in interest‐bearing checking accounts, and a $1.9 million increase in savings accounts. This increase was partially offset by a $89.8 million decrease in certificate of deposit accounts. Brokered certificates of deposit decreased 24.5% to $185.0 million on March 31, 2025, compared to $245.0 million on December 31, 2024. Noninterest‐bearing demand accounts comprised 30.8% of all deposits on March 31, 2025, compared to 30.2% on December 31, 2024.

    Total deposits of $5.94 billion on March 31, 2025, reflected an increase of $27.0 million, or 0.5%, compared to total deposits of $5.91 billion on March 31, 2024. This increase was due to a $278.1 million increase in money market accounts, a $26.8 million increase in demand deposits and a $10.2 million increase in interest‐bearing checking accounts. This increase was partially offset by a $275.6 million decrease in certificate of deposit accounts and a $12.5 million decrease in savings accounts. Brokered certificates of deposit decreased 60.7% to $185.0 million on March 31, 2025, compared to $470.7 million on March 31, 2024. Noninterest‐bearing demand accounts comprised 30.8% of all deposits on March 31, 2025, compared to 30.5% on March 31, 2024.

    Capital

    The Bank continues to be designated as a “well capitalized” institution as its capital ratios exceed the minimum requirements for this designation. As of March 31, 2025, the Bank’s Tier 1 Leverage Ratio was 9.76%, Tier 1 Risk‐Based Capital Ratio was 14.13%, and Total Risk‐Based Capital Ratio was 15.28%. On a consolidated basis, the Company’s Tier 1 Leverage Ratio was 9.46%, Tier 1 Risk‐Based Capital Ratio was 13.69%, and Total Risk‐Based Capital Ratio was 15.92% as of March 31, 2025.

    Book value per share on March 31, 2025, was $4,940.82 per Class A common share and $32.94 per Class B common share, an increase of $204.63 per Class A common share and $1.37 per Class B common share from December 31, 2024.

    Amended and Restated Articles of Incorporation

    On April 10, 2025, the shareholders of Alpine approved amended and restated articles of incorporation to affect the following actions, among other things:

    • Increase from 15,100,000 to 30,000,000 the total authorized shares of common stock that the Company is authorized to issue;
    • Increase from 100,000 to 15,000,000 the authorized shares of the Class A common stock;
    • Effect a forward stock split of the outstanding shares of the Class A common stock by a ratio of 150‐for‐one;
    • Provide that holders of Class A common stock and Class B common stock shall be entitled to share equally, on a per share basis based upon the number of shares issued and outstanding, in dividends and other distributions;
    • Provide that each one share of Class B common stock shall be entitled to one vote;
    • Provide that each one share of Class A common stock shall be entitled to twenty votes;
    • Provide that unless otherwise required by law the Class A common stock and Class B common stock will vote together as a single class on all matters, including the election of directors;
    • Provide that a majority of the total voting power of the outstanding shares of common stock entitled to vote shall constitute a quorum at any meeting of shareholders; and
    • Provide that the approval of certain corporate actions requires the approval of more than 66 2/3% of the voting power of the outstanding shares of common stock entitled to vote.

    Alpine anticipates that the amended and restated articles of incorporation and related stock split of the Class A common stock will become effective on May 1, 2025.

    Additional information can be found in the proxy materials for our 2025 Annual Meeting of Stockholders at www.alpinebank.com/who‐we‐are/investor‐relations.html.

    Dividends

    During first quarter 2025, the Company paid cash dividends of $31.50 per Class A common share and $0.21 per Class B common share. On April 10, 2025, the Company declared cash dividends of $31.50 per Class A common share and $0.21 per Class B common share payable on April 28, 2025, to shareholders of record on April 21, 2025.

    About Alpine Banks of Colorado

    Alpine Banks of Colorado, is a $6.7 billion, independent, employee‐owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains and Front Range. Alpine Bank has a five‐star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B non‐voting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.

    *Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.

    Contacts: Glen Jammaron Eric A. Gardey
      President and Vice Chairman Chief Financial Officer
      Alpine Banks of Colorado Alpine Banks of Colorado
      2200 Grand Avenue 2200 Grand Avenue
      Glenwood Springs, CO 81601 Glenwood Springs, CO 81601
      (970) 384‐3266 (970) 384‐3257


    A note about forward‐looking statements

    This press release contains “forward‐looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “reflects,” “believes,” “can,” “would,” “should,” “will,” “estimates,” “looks forward to,” “continues,” “expects” and similar references to future periods. Examples of forward‐looking statements include, but are not limited to, statements we make regarding our evaluation of macro‐environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward‐looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward‐looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward‐looking statements. We caution you therefore against relying on any of these forward‐looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward‐looking statement include, but are not limited to:

    • The ability to attract new deposits and loans;
    • Demand for financial services in our market areas;
    • Competitive market‐pricing factors;
    • Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;
    • Effects of future economic, business and market conditions, including higher inflation;
    • Adverse effects of public health events, such as the COVID‐19 pandemic, including governmental and societal responses;
    • Deterioration in economic conditions that could result in increased loan losses;
    • Actions by competitors and other market participants that could have an adverse impact on expected performance;
    • Risks associated with concentrations in real estate‐related loans;
    • Risks inherent in making loans, such as repayment risks and fluctuating collateral values;
    • Market interest rate volatility, including changes to the federal funds rate;
    • Stability of funding sources and continued availability of borrowings;
    • Geopolitical events, including global tariffs, acts of war, international hostilities and terrorist activities;
    • Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;
    • Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;
    • Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;
    • Any increases in FDIC assessments;
    • Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
    • The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;
    • Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;
    • The ability to recruit and retain key management and staff;
    • The ability to raise capital or incur debt on reasonable terms; and
    • Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets.

    There are many factors that could cause actual results to differ materially from those contemplated by forward‐looking statements. Any forward‐looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    https://alpinebank.kcmspreview.com/_/kcms-doc/1507/91579/Alpine-Banks-of-Colorado-Consolidated-Financial-Statements-3.31.25.pdf

    Contact: Eric A. Gardey, Chief Financial Officer
      Alpine Banks of Colorado
      (970) 384‐3257
      ericgardey@alpinebank.com

    The MIL Network –

  • MIL-OSI United Nations: IOM Strengthens Humanitarian Lifeline for Displaced and Deported in Haitian Border Towns

    Source: International Organization for Migration (IOM)

    Port-au-Prince, 30 April 2025 – The International Organization for Migration (IOM) is urgently scaling up its humanitarian response in the border towns of Belladère and Ouanaminthe amid a sharp rise in deportations by land, with about 20,000 vulnerable Haitians returned in April — the highest monthly figure recorded this year.

    “The situation in Haiti is becoming increasingly dire. Each day, deportations and gang violence worsen an already fragile situation,” said IOM Director General Amy Pope. “Support from donors and the international community has helped strengthen the humanitarian lifeline, but far more is needed, as the number of vulnerable people continues to grow.”

    Especially alarming is marked increase in the number of highly vulnerable people – including women, children, and newborns – being forcibly returned. At the Belladère and Ouanaminthe border crossings, IOM, in collaboration with the National Office for Migration (ONM) and other state agencies, has been helping an average of 15 pregnant women and 15 lactating mothers per day just since 22 April. In total, 3,500 deportees have received help since 22 April.

    These deportations coincide with a separate humanitarian emergency in the Centre department. Gang violence that erupted in late March in Mirebalais and Saut d’Eau has displaced more than 51,000 people, according to the latest IOM displacement tracking data. Most have sought refuge with host families, while more than 12,500 are sheltering in 95 newly established spontaneous displacement sites, with limited access to basic services. In Belladère alone, over 4,000 displaced people found refuge.

    Gang control over Mirebalais has effectively severed Belladère from the rest of the country, blocking safe access for humanitarian staff, medical supplies, and aid. This isolation is compounding already dire conditions for deportees and displaced populations alike, who remain unable to reach their hometowns. Basic items, including food, water, and medical supplies, are running low.

    “This is a compounded crisis spreading beyond the capital, with cross-border expulsions and internal displacement converging in places like Belladère,” said Grégoire Goodstein, IOM Chief of Mission in Haiti. “Delivering assistance is becoming increasingly difficult as humanitarian actors find themselves trapped alongside the very people they are trying to help.”

    IOM, in coordination with the General Directorate for Civil Protection (DGPC) is responding with expanded life-saving support. This includes the provision of safe drinking water, and hygiene kits tailored to women’s and children’s needs. First aid, medical referrals, and psychosocial support are being made available for the most vulnerable. Temporary shelter arrangements have also been established, such as hotel accommodation for lactating mothers. Furthermore, IOM is closely coordinating with ONM and the Ministry of Public Health to ensure newborns and mothers receive immediate health support and vaccination. 

    For more information, please contact IOM Media Centre 

    MIL OSI United Nations News –

  • MIL-OSI: Turbo Energy Partners with Chilean Utility Saesa to Expand Smart Battery Storage Systems in Latin America

    Source: GlobeNewswire (MIL-OSI)

    VALENCIA, Spain, April 30, 2025 (GLOBE NEWSWIRE) — Turbo Energy S.A. (Nasdaq: TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, has teamed with Saesa, one of Chile’s largest electric utilities, to expand the deployment of smart battery systems across the Andean country.

    This partnership marks a significant step forward in Turbo Energy’s expansion into Latin America, resulting in the completion of the companies’ first joint project— the installation of a smart battery energy storage system (BESS) at the headquarters of Bayas del Sur, a leading berry producer in southern Chile.

    The project integrates lithium batteries with 200 kW of power and 880 kWh of storage capacity. Designed to complement Bayas del Sur’s existing photovoltaic installation, the system enables the plant to optimize energy consumption, reduce fuel dependence and maintain operations during peak demand periods or grid outages.

    “The commissioning of this project for Bayas del Sur reflects a growing trend among companies across all sectors: the search for effective solutions that ensure stable and sustainable energy flow while mitigating market price volatility,” said Mariano Soria, Chief Executive Officer of Turbo Energy. “Working alongside a utility giant like Saesa gives Turbo Energy a strong foundation to deploy smart BESS solutions for Chile’s most forward-thinking companies — a key driver behind the region’s desired economic decarbonization objectives.”

    Saesa executives emphasized the importance of the project in advancing renewable energy and supporting industrial decarbonization in Chile. “Our collaboration with Turbo Energy represents a pivotal advancement in sustainable infrastructure for southern Chile,” said Camila Trujillo, Energy Manager at Saesa Innova. “By integrating intelligent solar storage solutions, we’re not only improving grid reliability for industrial clients like Bayas del Sur, but also reinforcing our commitment to cleaner, smarter energy systems that benefit both businesses and communities across our nation.”

    The project with Saesa closely follows Turbo Energy’s entry into the Chilean market. In March 2025, the Company launched Latin America’s first, fully integrated, end-to-end solar energy storage system at the Alto Labranza shopping center, marking the debut of its new business unit, Turbo Energy Solutions. The division focuses on photovoltaic generation, energy storage and smart energy management for the commercial and industrial sectors across Latin America.

    About Turbo Energy, S.A.

    Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, please visit www.turbo-e.com.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    For more information, please contact:
    At Turbo Energy, S.A.                                                                          
    Dodi Handy, Director of Communications                            
    Phone: 407-960-4636                                                                          
    Email: dodihandy@turbo-e.com

    The MIL Network –

  • MIL-OSI: Red River Bancshares, Inc. Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    ALEXANDRIA, La., April 30, 2025 (GLOBE NEWSWIRE) — Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the first quarter of 2025.

    Net income for the first quarter of 2025 was $10.4 million, or $1.52 per diluted common share (“EPS”), an increase of $1.0 million, or 11.2%, compared to $9.3 million, or $1.37 EPS, for the fourth quarter of 2024, and an increase of $2.2 million, or 26.4%, compared to $8.2 million, or $1.16 EPS, for the first quarter of 2024. For the first quarter of 2025, the quarterly return on assets was 1.32%, and the quarterly return on equity was 12.85%.

    First Quarter 2025 Performance and Operational Highlights

    The Company had solid financial results for the first quarter of 2025. The net interest margin, net interest income, and net income increased. The balance sheet reflects good loan growth, while deposits and assets had slight increases. We increased the quarterly cash dividend paid to shareholders by 33.3% to $0.12 per share for the first quarter of 2025. Also, in the first quarter, we completed significant upgrades to our digital banking systems.

    • Net income for the first quarter of 2025 was $10.4 million, which was $1.0 million, or 11.2%, higher than the prior quarter. Net income for the first quarter increased due to having higher net interest income, along with approximately $620,000 of periodic items that reduced operating expenses. These operating expense reductions benefited EPS by approximately $0.07.
    • Net interest income and net interest margin FTE increased for the first quarter of 2025 compared to the prior quarter. Net interest income for the first quarter of 2025 was $24.6 million, which was $923,000, or 3.9%, higher than the prior quarter. Net interest margin FTE increased 13 basis points (“bp(s)”) to 3.22% for the first quarter of 2025, compared to 3.09% for the prior quarter. These improvements resulted from higher securities yields and lower deposit rates.
    • As of March 31, 2025, assets were $3.19 billion, which was $36.8 million, or 1.2%, higher than December 31, 2024. The increase was mainly due to a $20.6 million increase in deposits.
    • Deposits totaled $2.83 billion as of March 31, 2025, an increase of $20.6 million, or 0.7%, compared to $2.81 billion as of December 31, 2024. This increase was mainly due to higher balances in consumer and commercial customer deposit accounts, partially offset by the seasonal outflow of funds from public entity customers.
    • As of March 31, 2025, loans held for investment (“HFI”) were $2.11 billion, which was $39.7 million, or 1.9%, higher than $2.08 billion as of December 31, 2024. In the first quarter of 2025, we had steady new loan closing activity, combined with funding of loan construction commitments.
    • As of March 31, 2025, total securities were $699.5 million, which was $14.7 million, or 2.1%, higher than December 31, 2024. Securities increased mainly due to the purchase of new securities, combined with a smaller net unrealized loss on securities available-for-sale (“AFS”).
    • As of March 31, 2025, liquid assets, which are cash and cash equivalents, were $252.2 million, and the liquid assets to assets ratio was 7.91%. We do not have any borrowings, brokered deposits, or internet-sourced deposits.
    • The provision for credit losses was $450,000 for the first quarter of 2025, compared to $300,000 for the prior quarter. The $150,000 increase was due to loan growth and uncertainty regarding tariffs and trade.
    • As of March 31, 2025, nonperforming assets (“NPA(s)”) were $5.2 million, or 0.16% of assets, and the allowance for credit losses (“ACL”) was $21.8 million, or 1.03% of loans HFI.
    • In the first quarter of 2025, the quarterly cash dividend increased by 33.3% to $0.12 per common share, up from $0.09 per common share for each quarter in 2024.
    • The 2025 stock repurchase program authorizes us to purchase up to $5.0 million of our outstanding shares of common stock from January 1, 2025 through December 31, 2025. As of March 31, 2025, the 2025 stock repurchase program had $5.0 million of available capacity.
    • In the first quarter of 2025, Red River Bank’s online, mobile banking, and bill payment systems were upgraded in order to improve our digital services for all customers.
    • In the first quarter of 2025, S&P Global Market Intelligence ranked the Bank 14th of the top 50 best deposit franchises in 2024 for banks with assets between $3.0 and $10.0 billion.
    • On March 14, 2025, our board of directors and executive management had the privilege of ringing the closing bell at the Nasdaq Market Site in New York to commemorate being a public company for 6 years.

    Blake Chatelain, President and Chief Executive Officer, stated, “We are pleased with the financial results for the first quarter of 2025. We produced solid net interest margin improvement, higher net income, and positive, relationship-based core loan growth. As a result of consistent earnings, strong capital levels, and confidence in our consistent and conservative banking culture, the board of directors approved a 33.3% increase to the quarterly cash dividend for the first quarter of 2025 to $0.12 per share.

    “We continue to be very focused on net interest margin improvement and managing our cost of deposits, while also focusing on redeploying assets into higher yielding assets. In the first quarter of 2025, our net interest margin FTE increased by 13 bps, net interest income increased by 3.9%, and net income increased by 11.2%.

    “We remain pleased with the level of our customer banking activity across Louisiana. We are focused on adding experienced relationship bankers and growing our presence in our newer markets. Recently there has been expanded emphasis and renewed efforts on economic development in Louisiana. This has resulted in various new and significant corporate expansion announcements for new projects throughout the state. Overall, as of March 31, 2025, our customers seem optimistic about economic activity and growth.

    “Despite this optimism, as result of the April 2, 2025 announcements and changes to the United States tariff policy, we are assessing the possible impact to our customers and the Company. These changes have injected new uncertainty into the economic environment and could result in a slowdown in activity, higher inflation, and a loss of consumer confidence. We are monitoring this situation with our customers as these events unfold. We are hopeful that these policies will be settled quickly and with minimal, negative impact.

    “Since the Company was founded in 1998, we have focused on having a consistent, conservative, and prudent banking philosophy and strategy. We remain focused on these principles, while also striving daily to build customer relationships, expand market share, and create value for our shareholders.”

    Net Interest Income and Net Interest Margin FTE

    Net interest income and net interest margin FTE increased in the first quarter of 2025 compared to the prior quarter. These measures were both primarily impacted by improved yields on securities and lower deposit rates. The Federal Open Market Committee (“FOMC”) decreased the federal funds rate by 50 bps in September of 2024, and by an additional 50 bps during the fourth quarter of 2024, and then kept the federal funds rate consistent in the first quarter of 2025.

    Net interest income for the first quarter of 2025 was $24.6 million, which was $923,000, or 3.9%, higher than the fourth quarter of 2024, due to a $178,000 increase in interest and dividend income, combined with a $745,000 decrease in interest expense. The increase in interest and dividend income was mainly due to higher interest income on securities. Securities income increased $233,000, primarily due to reinvesting lower yielding securities cash flows into higher yielding securities. The decrease in interest expense was primarily due to lower rates on time deposits.

    The net interest margin FTE increased 13 bps to 3.22% for the first quarter of 2025, compared to 3.09% for the prior quarter. This increase was due to improved yields on securities and loans, combined with lower deposit costs. The yield on securities increased 11 bps, primarily due to reinvesting lower yielding securities cash flows into higher yielding securities. The yield on loans increased 7 bps due to higher rates on new and renewed loans compared to the existing portfolio yield. The average rate on new and renewed loans was 7.02% for the first quarter of 2025 and 7.25% for the prior quarter. The cost of deposits decreased 10 bps to 1.61% for the first quarter of 2025, compared to 1.71% for the previous quarter, mainly due to lowering selected time deposit rates. As a result of this change, there was a 37 bp decrease on time deposits during the first quarter.

    The FOMC kept the federal funds rate consistent in the first quarter of 2025, with the target federal funds range remaining at 4.25%-4.50%. The market’s expectation is that the FOMC may lower the target range of the federal funds rate several times in 2025. During the remainder of 2025, we anticipate receiving approximately $80.0 million in securities cash flows with an average yield of 3.28%, and we project approximately $162.2 million of fixed rate loans will mature with an average yield of 6.15%. We expect to redeploy these balances into slightly higher yielding assets. Additionally, during the second quarter of 2025, we expect $253.6 million of time deposits to mature with an average rate of 4.06%, which we anticipate repricing into slightly lower cost deposits. As of March 31, 2025, floating rate loans were 17.6% of loans HFI, and floating rate transaction deposits were 8.7% of interest-bearing transaction deposits. Depending on balance sheet activity, the movement in interest rates, and the economic outlook, we expect the net interest income and net interest margin FTE to remain fairly consistent for the remainder of 2025.

    Provision for Credit Losses

    The provision for credit losses for the first quarter of 2025 was $450,000 for loans, which was $150,000 higher than the provision for credit losses of $300,000 for the prior quarter. The increase in the first quarter of 2025 was related to loan growth in the quarter, combined with uncertainty regarding tariffs and trade. The provision in the fourth quarter of 2024, which included $200,000 for loans and $100,000 for unfunded loans commitments, was due to potential economic challenges resulting from the recent inflationary environment, changing monetary policy, and loan growth. We will continue to evaluate future provision needs in relation to current economic situations, loan growth, trends in asset quality, forecasted information, and other conditions influencing loss expectations.

    Noninterest Income

    Noninterest income totaled $5.3 million for the first quarter of 2025, an increase of $277,000, or 5.5%, compared to $5.0 million for the previous quarter. The increase was mainly due to higher brokerage income and a gain on equity securities, partially offset by lower mortgage loan income and Small Business Investment Company (“SBIC”) income.

    Brokerage income was $1.3 million for the first quarter of 2025, an increase of $401,000, or 43.4%, compared to $924,000 for the previous quarter. The higher income in the first quarter of 2025 was due to increased investing activity by clients. Assets under management were $1.14 billion as of March 31, 2025.

    Equity securities are an investment in a Community Reinvestment Act (“CRA”) mutual fund consisting primarily of bonds. The gain or loss on equity securities is a fair value adjustment primarily driven by changes in the interest rate environment. Due to the fluctuations in market rates between quarters, equity securities had a gain of $44,000 in the first quarter of 2025, compared to a loss of $91,000 for the previous quarter.

    Mortgage loan income totaled $530,000 for the first quarter of 2025, a decrease of $122,000, or 18.7%, compared to $652,000 for the previous quarter due to decreased purchase activity.

    SBIC income was $280,000 for the first quarter of 2025, a decrease of $66,000, or 19.1%, compared to $346,000 for the previous quarter. This decrease was primarily due to lower normal income received from these partnerships. We expect SBIC income to be lower in future quarters due to fund value fluctuations.

    Operating Expenses

    Operating expenses totaled $16.6 million for the first quarter of 2025, a decrease of $252,000, or 1.5%, compared to $16.8 million for the previous quarter. The decrease was mainly due to lower data processing expense and loan and deposit expense, partially offset by higher personnel expense.

    Data processing expense totaled $288,000 for the first quarter of 2025, a decrease of $393,000, or 57.7%, compared to $681,000 for the previous quarter. The decrease was attributable to receipt of a $447,000 periodic refund from our data processing center in the first quarter of 2025. This decrease was partially offset by new expenses and $14,000 of nonrecurring implementation fees related to online, mobile banking, and bill payment systems implemented in the first quarter of 2025.

    Loan and deposit expenses totaled $62,000 for the first quarter of 2025, a decrease of $272,000, or 81.4%, compared to $334,000 for the previous quarter. This decrease was primarily attributable to receipt of a $173,000 negotiated, variable rebate from a vendor in the first quarter of 2025.

    Personnel expenses totaled $10.0 million for the first quarter of 2025, an increase of $254,000, or 2.6%, compared to the previous quarter. This increase was primarily due to an increase in head count, restarting of payroll tax expense, and increased revenue-based commission compensation. As of March 31, 2025 and December 31, 2024, we had 375 and 369 total employees, respectively.

    Asset Overview

    As of March 31, 2025, assets were $3.19 billion, compared to assets of $3.15 billion as of December 31, 2024, an increase of $36.8 million, or 1.2%. In the first quarter, assets were mainly impacted by a $20.6 million, or 0.7%, increase in deposits. In the first quarter of 2024, liquid assets decreased $16.8 million, or 6.3%, to $252.2 million and averaged $275.9 million for the first quarter. As of March 31, 2025, we had sufficient liquid assets available and $1.66 billion accessible from other liquidity sources. The liquid assets to assets ratio was 7.91% as of March 31, 2025. Total securities increased $14.7 million, or 2.1%, to $699.5 million in the first quarter and were 22.0% of assets as of March 31, 2025. During the first quarter, loans HFI increased $39.7 million, or 1.9%, to $2.11 billion. The loans HFI to deposits ratio was 74.84% as of March 31, 2025, compared to 73.97% as of December 31, 2024.

    Securities

    Total securities as of March 31, 2025, were $699.5 million, an increase of $14.7 million, or 2.1%, from December 31, 2024. Securities increased mainly due to the purchase of new securities, combined with a smaller net unrealized loss on securities AFS.

    The estimated fair value of securities AFS totaled $566.9 million, net of $58.7 million of unrealized loss, as of March 31, 2025, compared to $550.1 million, net of $63.2 million of unrealized loss, as of December 31, 2024. As of March 31, 2025, the amortized cost of securities held-to-maturity (“HTM”) totaled $129.7 million compared to $131.8 million as of December 31, 2024. As of March 31, 2025, securities HTM had an unrealized loss of $21.8 million compared to $22.8 million as of December 31, 2024.

    As of March 31, 2025, equity securities, which is an investment in a CRA mutual fund consisting primarily of bonds, totaled $3.0 million compared to $2.9 million as of December 31, 2024.

    Loans

    Loans HFI as of March 31, 2025, were $2.11 billion, an increase of $39.7 million, or 1.9%, from $2.08 billion as of December 31, 2024. In the first quarter of 2025, we had steady new loan closing activity, combined with funding of loan construction commitments.

    Loans HFI by Category
      March 31, 2025   December 31, 2024   Change from
    December 31, 2024 to
    March 31, 2025
    (dollars in thousands) Amount   Percent   Amount   Percent   $ Change   % Change
    Real estate:                      
    Commercial real estate $ 892,205   42.2 %   $ 884,641   42.6 %   $ 7,564     0.9 %
    One-to-four family residential   617,679   29.2 %     614,551   29.6 %     3,128     0.5 %
    Construction and development   175,575   8.3 %     155,229   7.5 %     20,346     13.1 %
    Commercial and industrial   339,115   16.0 %     327,086   15.8 %     12,029     3.7 %
    Tax-exempt   61,722   2.9 %     64,930   3.1 %     (3,208 )   (4.9 %)
    Consumer   28,446   1.4 %     28,576   1.4 %     (130 )   (0.5 %)
    Total loans HFI $ 2,114,742   100.0 %   $ 2,075,013   100.0 %   $ 39,729     1.9 %

    Commercial real estate (“CRE”) loans are collateralized by owner occupied and non-owner occupied properties mainly in Louisiana. Non-owner occupied office loans were $54.2 million, or 2.6% of loans HFI, as of March 31, 2025, and are primarily centered in low-rise suburban areas. The average CRE loan size was $970,000 as of March 31, 2025.

    Health care loans are our largest industry concentration and are made up of a diversified portfolio of health care providers. As of March 31, 2025, total health care loans were 8.0% of loans HFI. Within the health care sector, loans to nursing and residential care facilities were 4.2% of loans HFI, and loans to physician and dental practices were 3.4% of loans HFI. The average health care loan size was $370,000 as of March 31, 2025.

    Asset Quality and Allowance for Credit Losses

    NPAs totaled $5.2 million as of March 31, 2025, an increase of $1.9 million, or 58.6%, from December 31, 2024. The increase was primarily due to a past due loan, partially offset by payoffs and charge-offs of nonaccrual loans. As of early April 2025, the past due loan was brought current by the customer, and NPAs were further reduced by receiving principal payments on two legacy nonaccrual loans. The ratio of NPAs to assets was 0.16% and 0.10% as of March 31, 2025 and December 31, 2024, respectively.

    As of March 31, 2025, the ACL was $21.8 million. The ratio of ACL to loans HFI was 1.03% as of March 31, 2025 and 1.05% as of December 31, 2024. The net charge-offs to average loans ratio was 0.02% for the first quarter of 2025 and 0.01% for the fourth quarter of 2024.

    Deposits

    As of March 31, 2025, deposits were $2.83 billion, an increase of $20.6 million, or 0.7%, compared to December 31, 2024. Average deposits for the first quarter of 2025 were $2.82 billion, an increase of $36.2 million, or 1.3%, from the prior quarter. The following tables provide details on our deposit portfolio:

    Deposits by Account Type
      March 31, 2025   December 31, 2024   Change from
    December 31, 2024 to
    March 31, 2025
    (dollars in thousands) Balance   % of Total   Balance   % of Total   $ Change   % Change
    Noninterest-bearing demand deposits $ 906,540   32.1 %   $ 866,496   30.9 %   $ 40,044     4.6 %
    Interest-bearing deposits:                      
    Interest-bearing demand deposits   147,343   5.2 %     154,720   5.5 %     (7,377 )   (4.8 %)
    NOW accounts   432,054   15.3 %     467,118   16.7 %     (35,064 )   (7.5 %)
    Money market accounts   569,613   20.2 %     556,769   19.8 %     12,844     2.3 %
    Savings accounts   175,239   6.2 %     169,894   6.1 %     5,345     3.1 %
    Time deposits less than or equal to $250,000   403,354   14.2 %     403,096   14.3 %     258     0.1 %
    Time deposits greater than $250,000   191,533   6.8 %     187,013   6.7 %     4,520     2.4 %
    Total interest-bearing deposits   1,919,136   67.9 %     1,938,610   69.1 %     (19,474 )   (1.0 %)
    Total deposits $ 2,825,676   100.0 %   $ 2,805,106   100.0 %   $ 20,570     0.7 %
    Deposits by Customer Type
      March 31, 2025   December 31, 2024   Change from
    December 31, 2024 to
    March 31, 2025
    (dollars in thousands) Balance   % of Total   Balance   % of Total   $ Change   % Change
    Consumer $ 1,388,944   49.1 %   $ 1,362,740   48.6 %   $ 26,204     1.9 %
    Commercial   1,200,367   42.5 %     1,178,488   42.0 %     21,879     1.9 %
    Public   236,365   8.4 %     263,878   9.4 %     (27,513 )   (10.4 %)
    Total deposits $ 2,825,676   100.0 %   $ 2,805,106   100.0 %   $ 20,570     0.7 %

    The increase in deposits in the first quarter of 2025 was mainly due to higher balances in consumer and commercial customer deposit accounts, partially offset by the seasonal outflow of funds from public entity customers.

    The Bank has a granular, diverse deposit portfolio with customers in a variety of industries throughout Louisiana. As of March 31, 2025, the average deposit account size was approximately $28,000.

    As of March 31, 2025, our estimated uninsured deposits, which are the portion of deposit accounts that exceed the FDIC insurance limit (currently $250,000), were approximately $875.2 million, or 31.0% of total deposits. This amount was estimated based on the same methodologies and assumptions used for regulatory reporting purposes. Also, as of March 31, 2025, our estimated uninsured deposits, excluding collateralized public entity deposits, were approximately $689.6 million, or 24.4% of total deposits. Our cash and cash equivalents of $252.2 million, combined with our available borrowing capacity of $1.66 billion, equaled 218.4% of our estimated uninsured deposits and 277.1% of our estimated uninsured deposits, excluding collateralized public entity deposits.

    Stockholders’ Equity

    Total stockholders’ equity as of March 31, 2025, was $333.3 million compared to $319.7 million as of December 31, 2024. The $13.6 million, or 4.2%, increase in stockholders’ equity during the first quarter of 2025 was attributable to $10.4 million of net income, a $3.9 million, net of tax, market adjustment to accumulated other comprehensive loss related to securities, and $149,000 of stock compensation, partially offset by $813,000 in cash dividends related to a $0.12 per share cash dividend that we paid on March 20, 2025.

    Non-GAAP Disclosure

    Our accounting and reporting policies conform to United States generally accepted accounting principles (“GAAP”) and the prevailing practices in the banking industry. Certain financial measures used by management to evaluate our operating performance are discussed as supplemental non-GAAP performance measures. In accordance with the Securities and Exchange Commission’s (“SEC”) rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the U.S.

    Management and the board of directors review tangible book value per share, tangible common equity to tangible assets, and realized book value per share as part of managing operating performance. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner we calculate the non-GAAP financial measures that are discussed may differ from that of other companies’ reporting measures with similar names. It is important to understand how such other banking organizations calculate and name their financial measures similar to the non-GAAP financial measures discussed by us when comparing such non-GAAP financial measures.

    A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included within the following financial statement tables.

    About Red River Bancshares, Inc.

    Red River Bancshares, Inc. is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of our commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production office in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans.

    Forward-Looking Statements

    Statements in this news release regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business, interest rates, and markets, are “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. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this news release and could cause us to make changes to our future plans. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents that we file with the SEC from time to time. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this news release are qualified in their entirety by this cautionary statement.

    Contact:
    Isabel V. Carriere, CPA, CGMA
    Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary
    318-561-4023
    icarriere@redriverbank.net

    FINANCIAL HIGHLIGHTS (UNAUDITED)
     
        As of and for the
    Three Months Ended
    (dollars in thousands, except per share data)   March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Net Income   $ 10,352     $ 9,306     $ 8,188  
                 
    Per Common Share Data:            
    Earnings per share, basic   $ 1.53     $ 1.37     $ 1.16  
    Earnings per share, diluted   $ 1.52     $ 1.37     $ 1.16  
    Book value per share   $ 49.18     $ 47.18     $ 43.43  
    Tangible book value per share (1)   $ 48.95     $ 46.95     $ 43.20  
    Realized book value per share (1)   $ 57.49     $ 56.07     $ 52.52  
    Cash dividends per share   $ 0.12     $ 0.09     $ 0.09  
    Shares outstanding     6,777,657       6,777,238       6,892,448  
    Weighted average shares outstanding, basic     6,777,332       6,797,469       7,050,048  
    Weighted average shares outstanding, diluted     6,796,707       6,816,299       7,066,709  
                 
    Summary Performance Ratios:            
    Return on average assets     1.32 %     1.18 %     1.07 %
    Return on average equity     12.85 %     11.46 %     10.77 %
    Net interest margin     3.17 %     3.04 %     2.80 %
    Net interest margin FTE     3.22 %     3.09 %     2.83 %
    Efficiency ratio     55.51 %     58.71 %     60.37 %
    Loans HFI to deposits ratio     74.84 %     73.97 %     74.22 %
    Noninterest-bearing deposits to deposits ratio     32.08 %     30.89 %     32.61 %
    Noninterest income to average assets     0.67 %     0.63 %     0.64 %
    Operating expense to average assets     2.12 %     2.14 %     2.07 %
                 
    Summary Credit Quality Ratios:            
    NPAs to assets     0.16 %     0.10 %     0.08 %
    Nonperforming loans to loans HFI     0.24 %     0.16 %     0.12 %
    ACL to loans HFI     1.03 %     1.05 %     1.06 %
    Net charge-offs to average loans     0.02 %     0.01 %     0.00 %
                 
    Capital Ratios:            
    Stockholders’ equity to assets     10.46 %     10.15 %     9.74 %
    Tangible common equity to tangible assets(1)     10.42 %     10.11 %     9.69 %
    Total risk-based capital to risk-weighted assets     18.25 %     18.13 %     17.84 %
    Tier I risk-based capital to risk-weighted assets     17.25 %     17.12 %     16.82 %
    Common equity Tier I capital to risk-weighted assets     17.25 %     17.12 %     16.82 %
    Tier I risk-based capital to average assets     12.01 %     11.86 %     11.44 %

    (1) Non-GAAP financial measure. Calculations of this measure and reconciliations to GAAP are included in the schedules accompanying this release.

    RED RIVER BANCSHARES, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
     
    (in thousands) March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024
    ASSETS                  
    Cash and due from banks $ 36,438     $ 30,558     $ 39,664     $ 35,035     $ 19,401  
    Interest-bearing deposits in other banks   215,717       238,417       192,983       178,038       210,404  
    Securities available-for-sale, at fair value   566,874       550,148       560,555       526,890       545,967  
    Securities held-to-maturity, at amortized cost   129,686       131,796       134,145       136,824       139,328  
    Equity securities, at fair value   2,981       2,937       3,028       2,921       2,934  
    Nonmarketable equity securities   2,349       2,328       2,305       2,283       2,261  
    Loans held for sale   2,178       2,547       1,805       3,878       1,653  
    Loans held for investment   2,114,742       2,075,013       2,056,048       2,047,890       2,038,072  
    Allowance for credit losses   (21,835 )     (21,731 )     (21,757 )     (21,627 )     (21,564 )
    Premises and equipment, net   59,034       59,441       57,661       57,910       57,539  
    Accrued interest receivable   10,553       10,048       9,465       9,570       9,995  
    Bank-owned life insurance   30,593       30,380       30,164       29,947       29,731  
    Intangible assets   1,546       1,546       1,546       1,546       1,546  
    Right-of-use assets   2,611       2,733       2,853       2,973       3,091  
    Other assets   32,965       33,433       31,285       34,450       32,940  
    Total Assets $ 3,186,432     $ 3,149,594     $ 3,101,750     $ 3,048,528     $ 3,073,298  
    LIABILITIES                  
    Noninterest-bearing deposits $ 906,540     $ 866,496     $ 882,394     $ 892,942     $ 895,439  
    Interest-bearing deposits   1,919,136       1,938,610       1,864,731       1,823,704       1,850,452  
    Total Deposits   2,825,676       2,805,106       2,747,125       2,716,646       2,745,891  
    Accrued interest payable   6,463       7,583       11,751       8,747       8,959  
    Lease liabilities   2,739       2,864       2,982       3,100       3,215  
    Accrued expenses and other liabilities   18,238       14,302       15,574       13,045       15,919  
    Total Liabilities   2,853,116       2,829,855       2,777,432       2,741,538       2,773,984  
    COMMITMENTS AND CONTINGENCIES   —       —       —       —       —  
    STOCKHOLDERS’ EQUITY                  
    Preferred stock, no par value   —       —       —       —       —  
    Common stock, no par value   38,710       38,655       41,402       44,413       45,177  
    Additional paid-in capital   2,871       2,777       2,682       2,590       2,485  
    Retained earnings   348,093       338,554       329,858       321,719       314,352  
    Accumulated other comprehensive income (loss)   (56,358 )     (60,247 )     (49,624 )     (61,732 )     (62,700 )
    Total Stockholders’ Equity   333,316       319,739       324,318       306,990       299,314  
    Total Liabilities and Stockholders’ Equity $ 3,186,432     $ 3,149,594     $ 3,101,750     $ 3,048,528     $ 3,073,298  
    RED RIVER BANCSHARES, INC.  
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)  
                   
        For the Three Months Ended  
    (in thousands)   March 31,
    2025
    		   December 31,
    2024
    		   March 31,
    2024
    		  
                           
    INTEREST AND DIVIDEND INCOME              
    Interest and fees on loans   $ 28,270   $ 28,285     $ 25,893    
    Interest on securities     4,856     4,623       4,064    
    Interest on deposits in other banks     2,661     2,699       3,039    
    Dividends on stock     21     23       22    
    Total Interest and Dividend Income     35,808     35,630       33,018    
    INTEREST EXPENSE              
    Interest on deposits     11,198     11,943       11,655    
    Interest on other borrowed funds     —     —       —    
    Total Interest Expense     11,198     11,943       11,655    
    Net Interest Income     24,610     23,687       21,363    
    Provision for credit losses     450     300       300    
    Net Interest Income After Provision for Credit Losses     24,160     23,387       21,063    
    NONINTEREST INCOME              
    Service charges on deposit accounts     1,383     1,452       1,368    
    Debit card income, net     992     960       1,022    
    Mortgage loan income     530     652       456    
    Brokerage income     1,325     924       987    
    Loan and deposit income     459     463       492    
    Bank-owned life insurance income     213     216       202    
    Gain (Loss) on equity securities     44     (91 )     (31 )  
    SBIC income     280     346       352    
    Other income (loss)     46     73       80    
    Total Noninterest Income     5,272     4,995       4,928    
    OPERATING EXPENSES              
    Personnel expenses     10,023     9,769       9,550    
    Occupancy and equipment expenses     1,794     1,716       1,616    
    Technology expenses     835     884       709    
    Advertising     333     313       337    
    Other business development expenses     558     486       475    
    Data processing expense     288     681       347    
    Other taxes     612     547       737    
    Loan and deposit expenses     62     334       (42 )  
    Legal and professional expenses     632     658       618    
    Regulatory assessment expenses     391     428       404    
    Other operating expenses     1,060     1,024       1,122    
    Total Operating Expenses     16,588     16,840       15,873    
    Income Before Income Tax Expense     12,844     11,542       10,118    
    Income tax expense     2,492     2,236       1,930    
    Net Income   $ 10,352   $ 9,306     $ 8,188    
    RED RIVER BANCSHARES, INC.
    NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)
     
      For the Three Months Ended
      March 31, 2025   December 31, 2024
    (dollars in thousands) Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate    		   Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate
    Assets                      
    Interest-earning assets:                      
    Loans(1,2) $ 2,089,712     $ 28,270   5.41 %   $ 2,072,858     $ 28,285   5.34 %
    Securities – taxable   559,752       3,871   2.77 %     555,622       3,636   2.62 %
    Securities – tax-exempt   189,729       985   2.08 %     190,470       987   2.07 %
    Interest-bearing deposits in other banks   243,751       2,661   4.37 %     225,660       2,699   4.74 %
    Nonmarketable equity securities   2,330       21   3.56 %     2,307       23   3.99 %
    Total interest-earning assets   3,085,274     $ 35,808   4.64 %     3,046,917     $ 35,630   4.60 %
    Allowance for credit losses   (21,789 )             (21,824 )        
    Noninterest-earning assets   107,295               109,992          
    Total assets $ 3,170,780             $ 3,135,085          
    Liabilities and Stockholders’ Equity                      
    Interest-bearing liabilities:                      
    Interest-bearing transaction deposits $ 1,341,885     $ 5,641   1.70 %   $ 1,263,775     $ 5,658   1.78 %
    Time deposits   592,368       5,557   3.80 %     599,910       6,285   4.17 %
    Total interest-bearing deposits   1,934,253       11,198   2.35 %     1,863,685       11,943   2.55 %
    Other borrowings   —       —   — %     —       —   — %
    Total interest-bearing liabilities   1,934,253     $ 11,198   2.35 %     1,863,685     $ 11,943   2.55 %
    Noninterest-bearing liabilities:                      
    Noninterest-bearing deposits   884,484               918,804          
    Accrued interest and other liabilities   25,336               29,567          
    Total noninterest-bearing liabilities   909,820               948,371          
    Stockholders’ equity   326,707               323,029          
    Total liabilities and stockholders’ equity $ 3,170,780             $ 3,135,085          
    Net interest income     $ 24,610           $ 23,687    
    Net interest spread         2.29 %           2.05 %
    Net interest margin         3.17 %           3.04 %
    Net interest margin FTE(3)         3.22 %           3.09 %
    Cost of deposits         1.61 %           1.71 %
    Cost of funds         1.47 %           1.56 %

    (1) Includes average outstanding balances of loans held for sale of $2.6 million and $3.2 million for the three months ended March 31, 2025 and December 31, 2024, respectively.
    (2) Nonaccrual loans are included as loans carrying a zero yield.
    (3) Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

    RED RIVER BANCSHARES, INC.
    NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)
     
      For the Three Months Ended
      March 31, 2025   March 31, 2024
    (dollars in thousands) Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate    		   Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate
    Assets                      
    Interest-earning assets:                      
    Loans(1,2) $ 2,089,712     $ 28,270   5.41 %   $ 2,015,063     $ 25,893   5.09 %
    Securities – taxable   559,752       3,871   2.77 %     569,600       3,048   2.14 %
    Securities – tax-exempt   189,729       985   2.08 %     197,817       1,016   2.05 %
    Interest-bearing deposits in other banks   243,751       2,661   4.37 %     224,301       3,039   5.42 %
    Nonmarketable equity securities   2,330       21   3.56 %     2,240       22   3.95 %
    Total interest-earning assets   3,085,274     $ 35,808   4.64 %     3,009,021     $ 33,018   4.35 %
    Allowance for credit losses   (21,789 )             (21,402 )        
    Noninterest-earning assets   107,295               100,486          
    Total assets $ 3,170,780             $ 3,088,105          
    Liabilities and Stockholders’ Equity                      
    Interest-bearing liabilities:                      
    Interest-bearing transaction deposits $ 1,341,885     $ 5,641   1.70 %   $ 1,261,361     $ 5,680   1.81 %
    Time deposits   592,368       5,557   3.80 %     582,847       5,975   4.12 %
    Total interest-bearing deposits   1,934,253       11,198   2.35 %     1,844,208       11,655   2.54 %
    Other borrowings   —       —   — %     —       —   — %
    Total interest-bearing liabilities   1,934,253     $ 11,198   2.35 %     1,844,208     $ 11,655   2.54 %
    Noninterest-bearing liabilities:                      
    Noninterest-bearing deposits   884,484               913,114          
    Accrued interest and other liabilities   25,336               25,055          
    Total noninterest-bearing liabilities   909,820               938,169          
    Stockholders’ equity   326,707               305,728          
    Total liabilities and stockholders’ equity $ 3,170,780             $ 3,088,105          
    Net interest income     $ 24,610           $ 21,363    
    Net interest spread         2.29 %           1.81 %
    Net interest margin         3.17 %           2.80 %
    Net interest margin FTE(3)         3.22 %           2.83 %
    Cost of deposits         1.61 %           1.70 %
    Cost of funds         1.47 %           1.56 %

    (1) Includes average outstanding balances of loans held for sale of $2.6 million and $2.0 million for the three months ended March 31, 2025 and 2024, respectively.
    (2) Nonaccrual loans are included as loans carrying a zero yield.
    (3) Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
     
    (dollars in thousands, except per share data) March 31,
    2025    		   December 31,
    2024    		   March 31,
    2024
    Tangible common equity          
    Total stockholders’ equity $ 333,316     $ 319,739     $ 299,314  
    Adjustments:          
    Intangible assets   (1,546 )     (1,546 )     (1,546 )
    Total tangible common equity (non-GAAP) $ 331,770     $ 318,193     $ 297,768  
    Realized common equity          
    Total stockholders’ equity $ 333,316     $ 319,739     $ 299,314  
    Adjustments:          
    Accumulated other comprehensive (income) loss   56,358       60,247       62,700  
    Total realized common equity (non-GAAP) $ 389,674     $ 379,986     $ 362,014  
    Common shares outstanding   6,777,657       6,777,238       6,892,448  
    Book value per share $ 49.18     $ 47.18     $ 43.43  
    Tangible book value per share (non-GAAP) $ 48.95     $ 46.95     $ 43.20  
    Realized book value per share (non-GAAP) $ 57.49     $ 56.07     $ 52.52  
               
    Tangible assets          
    Total assets $ 3,186,432     $ 3,149,594     $ 3,073,298  
    Adjustments:          
    Intangible assets   (1,546 )     (1,546 )     (1,546 )
    Total tangible assets (non-GAAP) $ 3,184,886     $ 3,148,048     $ 3,071,752  
    Total stockholders’ equity to assets   10.46 %     10.15 %     9.74 %
    Tangible common equity to tangible assets (non-GAAP)   10.42 %     10.11 %     9.69 %

    The MIL Network –

  • MIL-OSI Economics: Samsung TV Plus Scores Big as It Becomes a Top Destination for Sports Fans

    Source: Samsung

    Samsung TV Plus has expanded its industry-leading sports offering and now gives fans live access to select local and national games from top sports leagues and governing bodies, delivering extensive sports coverage. During the 2024-25 season, fans in Southern California were the first to experience Victory+ Anaheim, an exclusive FAST channel featuring live, local Anaheim Ducks games, and fans will soon be able to tune into the upcoming 2025-26 and 2026-27 seasons. As Samsung TV Plus expands its regional lineup to bring subscription-free hometown action front and center, Dallas Stars fans will be able to enjoy live games for the 2025-26 season on a new Victory+ Dallas channel that will premiere on the service later this year.
    On a national level, Samsung TV Plus has also added NASCAR, featuring original programming and continuous race coverage, as well as The Roku Sports Channel, which will broadcast live MLB games, Formula E races, X games, among others.
    With the launch of these new channels, and more exciting additions on the horizon this year, Samsung TV Plus further cements its position as the leading destination for sports fans to watch live games, extensive archives, and legendary replays with coverage across major sports leagues such as NFL, NHL, and MLB, as well as UFC, PGA TOUR, Formula 1, and FIFA.
    “We’re tearing down the paywalls that have kept fans from the sports they love,” said Salek Brodsky, Senior Vice President and Global Head of Samsung TV Plus. “By teaming up with top leagues and bringing live games and iconic moments to our platform, we’re giving every fan a front-row seat.”
    New sports channels include:
    Victory+ Anaheim: Local viewers can stream live Anaheim Ducks games, along with additional sports entertainment including highlights, recaps, and epic match-ups that bring fans closer to the action.
    Victory+ Dallas: Local viewers can stream live Dallas Stars games, along with additional sports entertainment including highlights, recaps, and epic match-ups that bring fans closer to the action.
    Roku Sports Channel: Catch everything from live MLB games to Formula E races to X Games, among others. Plus, stream daily sports talk from Rich Eisen and Good Morning Football: Overtime.
    NASCAR: Watch the latest news from around the sport, original programming, and race replays.
    PBR RidePass: Live and on-demand action from the PBR (Professional Bull Riders) Unleash The Beast Tour, PBR Team Series, Ultimate Bull Fighting, rodeo and other western sports events, plus original series and news.
    These five new channels join the over 50 that are already streaming on Samsung TV Plus today. Highlights below:
    Sports Leagues:
    NFL Channel: 24/7, always-on access to NFL content featuring Game Center on live game days, with real-time scoring updates, stats, highlights and more, as well as NFL Game Replays, Original Shows, Emmy-Award winning series and more.
    MLB: Brings the best of baseball coverage, allowing viewers to enjoy the MLB FAST channel with daily programming and features covering the latest baseball highlights, MLB and MiLB game replays, original shows, documentaries, and more!
    FIFA+: Brings fans into the heart of football with the iconic World Cup Archive, Live football from around the globe and documentaries bring the stories behind the beautiful game. Go behind the scenes with spotlights on global stars, fans and influencers and relive iconic football moments with full match replays from past FIFA World Cup and FIFA Women’s World Cup tournaments.
    Formula 1 Channel: The ultimate destination for fans to catch up on all the action from F1, F2, F3 and F1 Academy races throughout the season, including analysis, replays and documentaries.
    PGA TOUR: Delivers total coverage on all things PGA TOUR, with behind-the-scenes programming, documentaries, tournament recaps, highlights, competitions, and more.
    UFC: Delivers nonstop combat sports action—from historic title clashes to highlight-reel knockouts—featuring iconic athletes, rivalries, and moments from the world’s premier MMA organization.
    Live Sports:
    ION: Returning in May, the State Farm® WNBA Friday Night Spotlight showcases marquee games from across the league throughout the regular season. ION also features National Women’s Soccer League (NWSL) action, and this fall, debuts the biennial SI Women’s Games all-star competition and the Elevance Health Women’s Fort Myers Tip-Off women’s college basketball tournament.
    Tennis Channel 2: Tennis Channel’s second network, airing select live tournament coverage from both the women’s and men’s professional tours. The network also features original series and unique storylines & interviews from shows like Second Serve.
    Women’s Sports Network: The new home for women’s sports featuring exclusive live volleyball matches, breaking news, and inspiring stories across all sports. The best leagues. The best athletes. The best of Women’s Sports all in one place. Featuring our studio show GAME ON, live game action, signature originals, countdowns, highlights and more.
    PickleballTV: A 24-hour streaming network covering 1,000+ hours of live tournament matches features the game’s top professionals & biggest stars.  PBTV also includes first-class instruction, lifestyle shows and pickleball news.
    Sports Talk & Highlights:
    CBS Sports HQ: A 24/7 sports network delivering everything that matters most to sports fans. With nonstop breaking news, highlights, instant reactions, picks and more, CBS Sports HQ is your ultimate sports destination.
    FOX Sports: Stream the best moments from FS1weekday studio shows, gripping documentaries and captivating podcasts, featuring well-known FOX Sports talent and media personalities.
    NBC Sports NOW: Offers daily sports talk, live events and highlights. Watch Dan Patrick, Mike Florio, Dan Le Batard, Matthew Berry and Chris Simms cover the biggest stories on and off the field. And this month, NBC Sports NOW went big with 113 hours of original NFL Draft content.
    DraftKings Network: “The Action Spot”. Built for passionate fans and bettors, DraftKings Network is the one spot to get all-in on NBA, NFL, MLB, NHL & more sports content and celebrate the thrill of action.
    FanDuel TV Extra: Your new home for live sports and professional poker action. Watch live horse racing, international basketball, soccer, darts, and much more. Make every moment more with FanDuel!
    For a full list of the Sports lineup, visit samsungtvplus.com.
    How to Watch
    Samsung TV Plus offers the best of TV – and is available exclusively across the Samsung TV, Galaxy, Smart Monitor, and Family Hub lineups. This includes the Samsung Neo QLED 8K, Neo QLED 4K, OLED, and The Frame, which are designed with advanced AI that can upscale your favorite shows and movies on Samsung TV Plus into stunning 4K and 8K quality.
    About Samsung TV Plus
    Samsung TV Plus is a premium global entertainment service and is the most used streaming app on Samsung Smart TVs. As a leader in FAST, Samsung TV Plus offers hundreds of channels and thousands of shows and movies on-demand in the U.S. Globally, the streaming service carries over 3,500 ad-supported linear channels in 30 countries and is accessible on over 630M active devices. Samsung TV Plus is the exclusive home of Conan O’Brien TV, Letterman TV, and hundreds of additional exclusive channels available worldwide. Samsung TV Plus is available on Samsung TVs, Galaxy devices, Samsung Smart Monitor, and Family Hub. To learn more, visit samsungtvplus.com. Follow us on LinkedIn.

    MIL OSI Economics –

  • MIL-OSI USA: Gross Domestic Product, 1st Quarter 2025 (Advance Estimate)

    Source: US Bureau of Economic Analysis

    Real gross domestic product (GDP) decreased at an annual rate of 0.3 percent in the first quarter of 2025 (January, February, and March), according to the advance estimate released by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2024, real GDP increased 2.4 percent.

    The decrease in real GDP in the first quarter primarily reflected an increase in imports, which are a subtraction in the calculation of GDP, and a decrease in government spending. These movements were partly offset by increases in investment, consumer spending, and exports. For more information, refer to the “Technical Notes” below.

    Compared to the fourth quarter, the downturn in real GDP in the first quarter reflected an upturn in imports, a deceleration in consumer spending, and a downturn in government spending that were partly offset by upturns in investment and exports.

    Real final sales to private domestic purchasers, the sum of consumer spending and gross private fixed investment, increased 3.0 percent in the first quarter, compared with an increase of 2.9 percent in the fourth quarter.

    The price index for gross domestic purchases increased 3.4 percent in the first quarter, compared with an increase of 2.2 percent in the fourth quarter. The personal consumption expenditures (PCE) price index increased 3.6 percent, compared with an increase of 2.4 percent. Excluding food and energy prices, the PCE price index increased 3.5 percent, compared with an increase of 2.6 percent.

    Real GDP and Related Measures
    (Percent change from Q3 to Q4)
      Advance Estimate
    Real GDP -0.3
    Current-dollar GDP 3.5
    Real final sales to private domestic purchasers 3.0
    Gross domestic purchases price index 3.4
    PCE price index 3.6
    PCE price index excluding food and energy 3.5
    For definitions, statistical conventions, updates to GDP, and more, visit “Additional Information.”

    Next release:
    May 29, 2025, at 8:30 a.m. EDT
    Gross Domestic Product (Second Estimate),
    Corporate Profits (Preliminary Estimate),
    1st Quarter 2025

    Technical Notes

    Sources of change for real GDP

    Real GDP decreased at an annual rate of 0.3 percent (less than 0.1 percent at a quarterly rate1) in the first quarter, primarily reflecting an increase in imports and a decrease in government spending that were partly offset by increases in investment, consumer spending, and exports.

    • Exports and imports primarily reflected Census-BEA U.S. International Trade in Goods and Services data as well as the Census Advance Economic Indicators Report for March.
      • Within imports, the increase primarily reflected an increase in imported goods, led by consumer goods, except food and automotive (mainly medicinal, dental, and pharmaceutical preparations, including vitamins); and by capital goods, except automotive (mainly computers, peripherals, and parts).
      • Within imports of industrial supplies and materials in the National Economic Accounts (NEAs), BEA identified and removed an increase in imports of silver bars as a form of investment in the first quarter. Similar to nonmonetary gold, silver can be used for two purposes: for industrial use (as an input into the production of goods and services) and for investment (as a store of wealth and a hedge against inflation). BEA’s NEAs do not treat transactions in valuables, such as nonmonetary gold and silver, as investments and therefore purchases of metals as a form of investment are not included in consumer spending, gross private domestic investment, or government spending. For more information, refer to “How are exports and imports of nonmonetary gold treated in BEA’s National Economic Accounts?”.
    • The decrease in government spending reflected a decrease in federal government spending (led by defense consumption expenditures) that was partly offset by an increase in state and local government spending (led by compensation of employees).
    • The largest contributor to the increase in investment was private inventory investment, led by an increase in wholesale trade (notably, drugs and sundries). The estimates of private inventory investment were based primarily on Census Bureau inventory book value data and a BEA adjustment in March to account for a notable increase in imports. For more information on the source data and BEA assumptions for inventories, refer to the key source data and assumptions table (available at 10 a.m.).
    • The increase in consumer spending reflected increases in both services and goods. Within services, increases were widespread, led by spending on health care as well as housing and utilities. Within goods, an increase in nondurable goods was partly offset by a decrease in durable goods.

    More information on the source data and BEA assumptions that underlie the first-quarter estimate is shown in the key source data and assumptions table (available at 10 a.m.).

    Impact of California Wildfires on first-quarter 2025 estimates

    In January 2025, a series of wildfires burned across Southern California, primarily impacting Los Angeles County. These disasters disrupted consumer and business activities and prompted emergency services and remediation activities. The responses to this disaster are included, but not separately identified, in the source data that BEA uses to prepare the estimates of GDP; consequently, it is not possible to estimate the overall impact of the California wildfires on first-quarter GDP. The destruction of fixed assets, such as residential and nonresidential structures, does not directly affect GDP or personal income. BEA estimates disaster losses in NIPA table 5.1, “Saving and Investment.” BEA’s preliminary estimates show that the California wildfires resulted in losses of $34.0 billion in privately owned fixed assets ($136.0 billion at an annual rate) and $11.0 billion in state and local government-owned fixed assets ($44.0 billion at an annual rate).

    For additional information, refer to “How are the measures of production and income in the national accounts affected by a disaster?“ and “How are the fixed assets accounts (FAAs) and consumption of fixed capital (CFC) impacted by disasters?“.

    1 Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For more information, refer to the FAQ Why does BEA publish percent changes in quarterly series at annual rates?. 

    MIL OSI USA News –

  • MIL-OSI Europe: EUROPE/ITALY – Pope Francis’ “recommendations” to his cousin Ana Rosa Sivori, a missionary nun

    Source: Agenzia Fides – MIL OSI

    Wednesday, 30 April 2025

    FMA

    by Antonella PrennaRome (Fides Agency) – “I insist that this donation be made available to those most in need,” said Sister Ana Rosa Sivori, cousin of Pope Francis, quoting the Pope himself, who in a conversation with Sister Ana Rosa recommended that a sum of money donated to him and entrusted to the community of the Institute of the Daughters of Mary Help of Christians (FMA), to which Sister Ana Rosa belongs, be used for the construction of homes for needy families in Bam Pong.The 83-year-old cousin of Pope Francis, who originally comes from Buenos Aires, has been a missionary in Thailand for 60 years. She began her journey in Turin, where she was sent from Argentina to study, then moved on to India, where she spent three years, and finally to Thailand.“I arrived in Rome on the night of April 23 and didn’t manage to pay my last respects to Francis in St. Peter’s Basilica until April 25. I stayed from 9 in the morning until 6 in the evening. I prayed and talked with him in front of his coffin, and I am sure he was listening to me. I was very impressed by the enormous influx of people from all over the world,” reports the nun.“This morning, April 30, I was able to say goodbye to him at his grave in the Basilica of Santa Maria Maggiore,” Sister Ana Rosa continued. ”It made a deep impression on me to stand in front of the white marble, and I was very happy that he is exactly where he always wanted to be. We are a very close family, and although we hadn’t spoken to each other for a long time, we always knew everything about each other. My father was very close to ‘Jorge’, as he continued to call him, and he always knew everything he was doing. We were baptized in the same basilica in Buenos Aires where the Don Bosco sisters work. He celebrated the funerals of my parents, our grandfather, and my sister’s wedding. We knew that he always called his sick sister on Sunday afternoons and that we talked about family matters. I celebrated my 80th birthday with him here in Rome after I had been in Argentina and before I returned to Thailand.“We often spoke with him about missionary work. He wanted to learn about the relationship between priests and Buddhists, who make up the majority of the population in Thailand. We always shared the idea of looking into each other’s faces and seeing what the other person needs. I hope that the cardinals who will meet in the conclave will follow Francis’ line for a Church of the people,” emphasizes the missionary.The FMA are represented in Thailand by eight communities and are active in the field of education. Specifically, they are located in the northwest of the country in the city of Chom Tong, in the northeast in the cities of Phon Sung and Udon Thani, further south in the city of Bam Pong, in San Phran, and finally with two communities in Bangkok.Sister Ana Rosa is currently working in the community in Bam Pong. Due to her age and health, she no longer teaches, but helps where needed and assists with the “chronicles” that the house collects every year from January to December.“There are 80 FMA sisters throughout Thailand,” explains the nun, ”and 17 of us are in Bam Pong. Our community is the first house that the FMA sisters opened in this country in 1933. Our pioneers supported and trained the local sisters and took in the first sisters who had been expelled from China. There are very few Christians in Bam Pong, but we have a very good relationship with the Buddhists, who also attend our schools. Education is of fundamental importance to us, and in order to give as many people as possible a chance, we have the lowest school fees of any school in the country. Our schools are overcrowded; in Bam Pong alone, we have 3,200 students, of whom at most a hundred are Christians. We teach the young girls the charisma of our founder, Mother Mazzarello. The schools in our communities range from nursery to middle school. They are mainly girls’ schools, with the exception of the kindergarten, which is mixed, and another school located outside the city. In this school, we have accepted the request of parents who have several children to accompany them all, so boys and girls can attend school together until the third grade.”“The Catholic community has a strong presence in Bam Pong,” concludes Sister Ana Rosa. ”There is a Capuchin monastery, a hospital run by the Camillian Missionaries, a Salesian Don Bosco school, the parish of St. Joseph, which is very large and run by the Salesians of Don Bosco, and a cemetery right next to our parish.” (Fides Agency 30/4/2025)
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    MIL OSI Europe News –

  • MIL-OSI: Blue Foundry Bancorp Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    RUTHERFORD, N.J., April 30, 2025 (GLOBE NEWSWIRE) — Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended March 31, 2025, compared to net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024, and a net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024.

    James D. Nesci, President and Chief Executive Officer, commented, “We are pleased with the improvement experienced in yields on assets and cost of liabilities as both contributed to a 27 basis points increase in net interest margin. In addition, we continue to maintain our strong capital position, increasing tangible book value to $14.81 per share.”

    Mr. Nesci also noted, “Deposit growth continued in the first quarter, funding loan growth of $42 million. Increases in our commercial real estate and consumer portfolios drove loan growth during the quarter as we remain focused on growing our commercial portfolio, supplemented with consumer loan purchases. Credit quality remained strong with a non-performing asset to total asset ratio of 0.27% and our allowance for credit losses on loans at 81 basis points of our loan portfolio covers non-performing loans by 2.3 times.”

    Highlights for the first quarter of 2025:

    • Deposits increased $43.9 million to $1.39 billion and Loans increased $42.2 million to $1.63 billion compared to the linked quarter.
    • Uninsured deposits to third-party customers totaled approximately 11% of total deposits as of March 31, 2025.
    • Net interest margin increased 27 basis points from the linked quarter to 2.16%.
    • Interest income for the quarter was $22.7 million, an increase of $928 thousand, or 4.3%, compared to the linked quarter.
    • Interest expense for the quarter was $12.0 million, a decrease of $343 thousand, or 2.8%, compared to the linked quarter.
    • Provision for credit losses of $201 thousand was primarily due to the increase in the provision for loans attributed to the increase in the commercial real estate portfolio.
    • Book value per share was $14.82 and tangible book value per share was $14.81. See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    • 464,085 shares were repurchased under our share repurchase plans at a weighted average share price of $9.52 per share.

    Loans

    Loans increased by $42.2 million during the first three months of 2025. The Company continues to focus on diversifying its lending portfolio by growing its commercial portfolios. Additionally, we purchased unsecured consumer loans with credit reserves. These loans improved yields while having low exposure to credit loss. During the first three months of 2025, the consumer loan portfolio increased by $34.3 million as a result of these purchases. In addition, the commercial real estate portfolio increased by $28.5 million, of which $14.4 million was in owner-occupied properties and the construction portfolio increased by $7.3 million. The multifamily and residential portfolios decreased by $25.7 million and $5.5 million, respectively.

    The details of the loan portfolio are below:

        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (In thousands)
    Residential   $ 512,793     $ 518,243     $ 516,754     $ 526,453     $ 540,427  
    Multifamily     645,399       671,116       666,304       671,185       671,011  
    Commercial real estate     288,151       259,633       241,711       241,867       244,207  
    Construction     92,813       85,546       80,081       71,882       63,052  
    Junior liens     26,902       25,422       24,174       23,653       22,052  
    Commercial and industrial     18,079       16,311       14,228       12,261       13,372  
    Consumer and other     41,518       7,211       7,731       83       56  
    Total loans     1,625,655       1,583,482       1,550,983       1,547,384       1,554,177  
    Less: Allowance for credit losses     13,152       12,965       13,012       13,027       13,749  
    Loans receivable, net   $ 1,612,503     $ 1,570,517     $ 1,537,971     $ 1,534,357     $ 1,540,428  


    Deposits

    As of March 31, 2025, deposits totaled $1.39 billion, an increase of $43.9 million, or 3.27%, from December 31, 2024, driven by increases of $28.8 million and $19.6 million in NOW and demand accounts and time deposits, respectively, partially offset by decreases in savings accounts of $3.6 million. The Company’s strategy is to focus on attracting the full banking relationship of small- to medium-sized businesses through an extensive suite of deposit products. While there is strong competition for deposits in the northern New Jersey market, we were able to increase core customer deposits during the quarter. Brokered deposits increased $50.0 million during the first quarter of 2025 as higher cost customer time deposits matured and were supplemented with brokered deposits.

    The details of deposits are below:

        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (In thousands)
    Non-interest bearing deposits   $ 25,222     $ 26,001     $ 22,254     $ 24,733     $ 25,342  
    NOW and demand accounts     398,332       369,554       357,503       368,386       373,172  
    Savings     236,779       240,426       237,651       246,559       250,298  
    Core deposits     660,333       635,981       617,408       639,678       648,812  
    Time deposits     726,908       707,339       701,262       671,478       642,372  
    Total deposits   $ 1,387,241     $ 1,343,320     $ 1,318,670     $ 1,311,156     $ 1,291,184  


    Financial Performance Overview:

    First quarter of 2025 compared to the fourth quarter of 2024

    Net interest income compared to the fourth quarter of 2024:

    • Net interest income was $10.7 million for the first quarter of 2025 compared to $9.5 million for the fourth quarter of 2024 as interest earned on interest-earning assets increased and interest paid on time deposits decreased.
    • Net interest margin increased by 27 basis points to 2.16%.
    • The yield on average interest-earning assets increased 14 basis points to 4.51%, while the cost of average interest-bearing liabilities decreased eight basis points to 2.89%.
    • Average interest-earning assets increased by $22.7 million and average interest-bearing liabilities increased by $30.3 million.

    Non-interest expense compared to the fourth quarter of 2024:

    • Non-interest expense increased $748 thousand primarily driven by an increase of $895 thousand in compensation and benefits expenses due to normal salary increases and a reset of variable compensation accruals. Variable compensation, achieved at less than target in 2024, was reset at the start of 2025. In addition, an increase of $109 thousand in occupancy and equipment was largely due to snow removal expenses in the first quarter partially offset by decreases in furniture and equipment expense. These increases were partially offset by a decrease of $174 thousand in other expenses.

    Income tax expense compared to the fourth quarter of 2024:

    • The Company did not record a tax benefit for the losses incurred during the first quarter of 2025 and the fourth quarter of 2024 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At March 31, 2025, the valuation allowance on deferred tax assets was $25.4 million.

    First quarter of 2025 compared to the first quarter of 2024

    Net interest income compared to the first quarter of 2024:

    • Net interest income was $10.7 million for the first three months of 2025 compared to $9.4 million for the same period in 2024. The increase was largely due to increases in interest earned on interest-earning assets and lower interest costs on time deposits.
    • Net interest margin increased by 24 basis points to 2.16%.
    • The yield on average interest-earning assets increased 26 basis points to 4.51%, partially offset by a three basis point increase in the cost of average interest-bearing liabilities.
    • Average interest-earning assets and average interest-bearing liabilities increased by $44.3 million and $70.2 million, respectively. Average loans drove the growth in interest-earning assets, with an increase of $45.7 million. Average interest-bearing deposits increased by $96.6 million, while average FHLB advances decreased by $26.5 million.

    Non-interest expense compared to the first quarter of 2024:

    • Non-interest expense was $13.6 million for the first quarter of 2025, an increase of $387 thousand driven by increases of $289 thousand, $111 thousand and $100 thousand in compensation and benefits expenses, occupancy and equipment expenses and data processing, respectively.

    Income tax expense compared to the first quarter of 2024:

    • The Company did not record a tax benefit for the losses incurred during the first quarters of 2025 and 2024 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At March 31, 2025, the valuation allowance on deferred tax assets was $25.4 million.

    Balance Sheet Summary:

    March 31, 2025 compared to December 31, 2024

    Cash and cash equivalents:

    • Cash and cash equivalents increased $3.7 million to $46.2 million.

    Securities available-for-sale:

    • Securities available-for-sale decreased $10.4 million to $286.6 million due to maturities, calls and pay downs offset by a decrease in unrealized losses of $4.1 million.

    Securities held-to-maturity

    • Securities held-to-maturity decreased $1.0 million due to pay downs in the portfolio.

    Total loans:

    • Total loans held for investment increased $42.2 million to $1.63 billion.
    • Consumer, commercial real estate and construction loans increased $34.3 million, $28.5 million, and $7.3 million, respectively. Partially offsetting these increases were decreases in multifamily loans of $25.7 million and residential loans of $5.5 million.
    • During the first quarter, the Company purchased consumer and residential loans totaling $35.0 million and $6.6 million, respectively.

    Deposits:

    • Deposits increased $43.9 million from December 31, 2024 to $1.39 billion at March 31, 2025. This was largely the result of a $28.8 million increase in NOW and demand accounts and a $19.6 million increase in certificates of deposits.
    • Core deposits (defined as non-interest bearing checking, NOW and demand accounts and savings accounts) represented 47.6% of total deposits, compared to 47.3% at December 31, 2024.
    • Brokered deposits totaled $205.0 million and $155.0 million at March 31, 2025 and December 31, 2024, respectively. The increase in brokered deposits supplemented the reduction in retail time deposits.
    • Uninsured and uncollateralized deposits to third-party customers were $159.8 million, or 11% of total deposits, at the end of the first quarter.

    Borrowings:

    • FHLB borrowings decreased $5.5 million to $334.0 million.
    • As of March 31, 2025, the Company had $275.6 million of additional borrowing capacity at the FHLB, $107.5 million in secured lines at the Federal Reserve Bank and $30.0 million of other unsecured lines of credit.

    Capital:

    • Shareholders’ equity decreased $5.5 million to $326.7 million. The decrease was primarily driven by the repurchase of shares, including shares netted for income tax withholding on vested equity awards, at a cost of $4.8 million. Additionally, the year-to-date loss, partially offset by favorable changes in accumulated other comprehensive income, contributed to the decrease in shareholders’ equity.
    • Tangible equity to tangible assets was 15.61% and tangible common equity per share outstanding was $14.81. See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    • The Bank’s capital ratios remain above the FDIC’s “well capitalized” standards.

    Asset quality:

    • As of March 31, 2025, the allowance for credit losses (“ACL”) on loans as a percentage of gross loans was 0.81%.
    • The Company recorded a provision for credit losses of $201 thousand for the first quarter of 2025. For the first quarter of 2025, there was a provision of $203 thousand in the ACL for loans, offset by a release of $1 thousand in the ACL for both off-balance-sheet commitments and held-to-maturity securities. The provision was primarily driven by the increase in loan balances and the shift in composition of the portfolio.
    • Non-performing loans totaled $5.7 million, or 0.35% of total loans compared to $5.1 million, or 0.33% of total loans at December 31, 2024.
    • Net charge-offs were $16 thousand for the three months ended March 31, 2025.
    • The ratio of allowance for credit losses on loans to non-performing loans was 229.81% at March 31, 2025 compared to 254.02% at December 31, 2024.

    About Blue Foundry

    Blue Foundry Bancorp is the holding company for Blue Foundry Bank, a place where things are made, purpose is formed, and ideas are crafted. Headquartered in Rutherford NJ, with a presence in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset and Union counties, Blue Foundry Bank is a full-service, innovative bank serving the doers, movers, and shakers in our communities. We offer individuals and businesses alike the tailored products and services they need to build their futures. With a rich history dating back more than 145 years, Blue Foundry Bank has a longstanding commitment to its customers and communities. To learn more about Blue Foundry Bank visit BlueFoundryBank.com or call (888) 931-BLUE. Member FDIC.

    Conference Call Information

    A conference call covering Blue Foundry’s first quarter 2025 earnings announcement will be held today, Wednesday, April 30, 2025 at 11:00 a.m. (EDT). To listen to the live call, please dial 1-833-470-1428 (toll free) or +1-404-975-4839 (international) and use access code 556514. The webcast (audio only) will be available on ir.bluefoundrybank.com. The conference call will be recorded and will be available on the Company’s website for one month.

    Contact:
    James D. Nesci
    President and Chief Executive Officer
    BlueFoundryBank.com
    jnesci@bluefoundrybank.com
    201-972-8900

    Forward-Looking Statements

    Certain statements contained herein are 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 (the “Exchange Act”) and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions.

    Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inflation and changes in the interest rate environment that reduce our margins and yields, the fair value of financial instruments or our level of loan originations, or increase in the level of defaults, losses and prepayments on loans we have made and make; general economic conditions, either nationally or in our market areas, that are worse than expected, including potential recessionary conditions, the imposition of tariffs or other domestic or international governmental policies; including potential recessionary conditions, the imposition of tariffs or other domestic or international governmental policies; changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in our market area; our ability to implement and change our business strategies; competition among depository and other financial institutions; adverse changes in the securities or secondary mortgage markets; changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees, capital requirements and insurance premiums; changes in monetary or fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; changes in the quality or composition of our loan or investment portfolios; technological changes that may be more difficult or expensive than expected; a failure or breach of our operational or security systems or infrastructure, including cyber-attacks; the inability of third party providers to perform as expected; our ability to manage market risk, credit risk and operational risk in the current economic environment; changes in consumer spending, borrowing and savings habits; changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission or the Public Company Accounting Oversight Board; our ability to retain key employees; the current or anticipated impact of military conflict, terrorism or other geopolitical events; the ability of the U.S. Government to manage federal debt limits; and changes in the financial condition, results of operations or future prospects of issuers of securities that we own.

    Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

     
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Statements of Financial Condition
     
        March 31, 2025   December 31, 2024   March 31, 2024
        (unaudited)   (audited)   (unaudited)
        (Dollars in Thousands)
    ASSETS            
    Cash and cash equivalents   $ 46,220     $ 42,502     $ 53,753  
    Securities available-for-sale, at fair value     286,620       297,028       265,191  
    Securities held to maturity     32,038       33,076       33,217  
    Other investments     17,605       17,791       17,908  
    Loans, net     1,612,503       1,570,517       1,540,428  
    Real estate owned, net     —       —       593  
    Interest and dividends receivable     8,746       8,014       8,001  
    Premises and equipment, net     28,805       29,486       31,696  
    Right-of-use assets     22,778       23,470       24,454  
    Bank owned life insurance     22,638       22,519       22,153  
    Other assets     14,253       16,280       30,393  
    Total assets   $ 2,092,206     $ 2,060,683     $ 2,027,787  
                 
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Liabilities            
    Deposits   $ 1,387,241     $ 1,343,320     $ 1,291,184  
    Advances from the Federal Home Loan Bank     334,000       339,500       342,500  
    Advances by borrowers for taxes and insurance     9,743       9,356       9,368  
    Lease liabilities     24,490       25,168       26,081  
    Other liabilities     10,069       11,141       8,498  
    Total liabilities     1,765,543       1,728,485       1,677,631  
    Shareholders’ equity     326,663       332,198       350,156  
    Total liabilities and shareholders’ equity   $ 2,092,206     $ 2,060,683     $ 2,027,787  
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Statements of Operations
    (Dollars in Thousands Except Per Share Data) (Unaudited)
     
        Three months ended
        March 31, 2025   December 31, 2024   March 31, 2024
        (Dollars in thousands)
    Interest income:            
    Loans   $ 18,892     $ 17,777     $ 17,192  
    Taxable investment income     3,785       3,972       3,614  
    Non-taxable investment income     36       36       36  
    Total interest income     22,713       21,785       20,842  
    Interest expense:            
    Deposits     9,026       9,573       8,413  
    Borrowed funds     2,943       2,739       3,012  
    Total interest expense     11,969       12,312       11,425  
    Net interest income     10,744       9,473       9,417  
    Provision for (release of) credit losses     201       (301 )     (535 )
    Net interest income after provision for (release of) credit losses     10,543       9,774       9,952  
    Non-interest income:            
    Fees and service charges     243       306       329  
    Gain on sale of loans     —       —       36  
    Other income     151       114       86  
    Total non-interest income     394       420       451  
    Non-interest expense:            
    Compensation and employee benefits     7,838       6,943       7,549  
    Occupancy and equipment     2,303       2,194       2,192  
    Data processing     1,487       1,514       1,387  
    Advertising     67       81       72  
    Professional services     699       737       730  
    Federal deposit insurance     223       226       199  
    Other     1,012       1,186       1,113  
    Total non-interest expense     13,629       12,881       13,242  
    Loss before income tax expense     (2,692 )     (2,687 )     (2,839 )
    Income tax expense     —       —       —  
    Net loss   $ (2,692 )   $ (2,687 )   $ (2,839 )
    Basic loss per share   $ (0.13 )   $ (0.13 )   $ (0.13 )
    Diluted loss per share   $ (0.13 )   $ (0.13 )   $ (0.13 )
    Weighted average shares outstanding            
    Basic     20,404,941       20,826,845       22,095,260  
    Diluted (1)     20,404,941       20,826,845       22,095,260  
    (1) The assumed vesting of outstanding restricted stock units had an anti-dilutive effect on diluted earnings per share due to the Company’s net loss for the 2025 and 2024 periods.
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Financial Highlights
    (Dollars in Thousands Except Per Share Data) (Unaudited)
     
        Three months ended
        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (Dollars in thousands)
    Performance Ratios (%):                    
    Loss on average assets     (0.53 )     (0.52 )     (0.79 )     (0.47 )     (0.56 )
    Loss on average equity     (3.29 )     (3.17 )     (4.68 )     (2.71 )     (3.23 )
    Interest rate spread (1)     1.62       1.40       1.29       1.43       1.40  
    Net interest margin (2)     2.16       1.89       1.82       1.96       1.92  
    Efficiency ratio (3) (4)     122.36       130.20       140.04       130.73       134.19  
    Average interest-earning assets to average interest-bearing liabilities     120.01       120.84       121.37       122.28       122.50  
    Tangible equity to tangible assets (4)     15.61       16.11       16.50       16.88       17.25  
    Book value per share (5)   $ 14.82     $ 14.75     $ 14.76     $ 14.70     $ 14.61  
    Tangible book value per share (4) (5)   $ 14.81     $ 14.74     $ 14.74     $ 14.69     $ 14.60  
                         
    Asset Quality:                    
    Non-performing loans   $ 5,723     $ 5,104     $ 5,146     $ 6,208     $ 6,691  
    Real estate owned, net     —       —       —       —       593  
    Non-performing assets   $ 5,723     $ 5,104     $ 5,146     $ 6,208     $ 7,284  
    Allowance for credit losses to total loans (%)     0.81       0.83       0.84       0.84       0.88  
    Allowance for credit losses to non-performing loans (%)     229.81       254.02       252.86       209.84       205.48  
    Non-performing loans to total loans (%)     0.35       0.33       0.33       0.40       0.43  
    Non-performing assets to total assets (%)     0.27       0.25       0.25       0.30       0.36  
    Net charge-offs to average outstanding loans during the period (%)     —       —       —       —       —  
    (1) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (2) Net interest margin represents net interest income divided by average interest-earning assets.
    (3) Efficiency ratio represents adjusted non-interest expense divided by the sum of net interest income plus non-interest income.
    (4) See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    (5) March 31, 2025 per share metrics computed using 22,047,649 total shares outstanding.
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Analysis of Net Interest Income
    (Dollars in Thousands) (Unaudited)
     
        Three Months Ended,
        March 31, 2025   December 31, 2024   March 31, 2024
        Average Balance   Interest   Average Yield/Cost   Average Balance   Interest   Average Yield/Cost   Average Balance   Interest   Average Yield/Cost
        (Dollars in thousands)
    Assets:                                    
    Loans (1)   $ 1,601,262   $ 18,892   4.72 %   $ 1,557,342   $ 17,777   4.57 %   $ 1,555,534   $ 17,192   4.45 %
    Mortgage-backed securities     189,820     1,323   2.79 %     185,382     1,254   2.71 %     160,349     876   2.20 %
    Other investment securities     163,590     1,689   4.13 %     164,392     1,573   3.83 %     183,717     1,652   3.62 %
    FHLB stock     17,680     399   9.02 %     17,153     411   9.58 %     20,123     492   9.83 %
    Cash and cash equivalents     43,195     410   3.80 %     68,536     770   4.50 %     51,561     630   4.92 %
    Total interest-earning assets     2,015,547     22,713   4.51 %     1,992,805     21,785   4.37 %     1,971,284     20,842   4.25 %
    Non-interest earning assets     61,518             61,586             59,357        
    Total assets   $ 2,077,065           $ 2,054,391           $ 2,030,641        
    Liabilities and shareholders’ equity:                                    
    NOW, savings, and money market deposits   $ 619,234     2,031   1.33 %   $ 614,623     1,988   1.29 %   $ 616,169     1,937   1.26 %
    Time deposits     712,796     6,995   3.98 %     698,801     7,585   4.32 %     619,220     6,476   4.21 %
    Interest-bearing deposits     1,332,030     9,026   2.75 %     1,313,424     9,573   2.90 %     1,235,389     8,413   2.74 %
    FHLB advances     347,394     2,943   3.39 %     335,686     2,739   3.26 %     373,874     3,012   3.24 %
    Total interest-bearing liabilities     1,679,424     11,969   2.89 %     1,649,110     12,312   2.97 %     1,609,263     11,425   2.86 %
    Non-interest bearing deposits     25,411             24,945             26,491        
    Non-interest bearing other     40,679             43,016             41,569        
    Total liabilities     1,745,514             1,717,071             1,677,323        
    Total shareholders’ equity     331,551             337,320             353,318        
    Total liabilities and shareholders’ equity   $ 2,077,065           $ 2,054,391           $ 2,030,641        
    Net interest income       $ 10,744           $ 9,473           $ 9,417    
    Net interest rate spread (2)           1.62 %           1.40 %           1.39 %
    Net interest margin (3)           2.16 %           1.89 %           1.92 %
    (1) Average loan balances are net of deferred loan fees and costs, premiums and discounts and include non-accrual loans.
    (2) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (3) Net interest margin represents net interest income divided by average interest-earning assets.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Supplemental Information – Non-GAAP Financial Measures
    (Unaudited)

    This press release contains certain supplemental financial information, described in the table below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”) that management uses in its analysis of Blue Foundry’s performance. Management believes these non-GAAP financial measures provide information useful to investors in understanding Blue Foundry’s financial results. These non-GAAP measures should not be considered a substitute for GAAP basis measures and results and Blue Foundry strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

    Net income, as presented in the Consolidated Statements of Operations, includes the provision for credit losses and income tax expense, while pre-provision net revenue does not.

        Three months ended
        March 31, 2025   December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024
        (Dollars in thousands, except per share data)
    Pre-provision net revenue and efficiency ratio:                        
    Net interest income   $ 10,744     $ 9,473     $ 9,087     $ 9,573     $ 9,417  
    Other income     394       420       387       536       451  
    Total revenue     11,138       9,893       9,474       10,109       9,868  
    Operating expenses     13,629       12,881       13,267       13,215       13,242  
    Pre-provision net loss   $ (2,491 )   $ (2,988 )   $ (3,793 )   $ (3,106 )   $ (3,374 )
    Efficiency ratio     122.4 %     130.2 %     140.0 %     130.7 %     134.2 %
                         
    Core deposits:                    
    Total deposits   $ 1,387,241     $ 1,343,320     $ 1,318,670     $ 1,311,156     $ 1,291,184  
    Less: time deposits     726,908       707,339       701,262       671,478       642,372  
    Core deposits   $ 660,333     $ 635,981     $ 617,408     $ 639,678     $ 648,812  
    Core deposits to total deposits     47.6 %     47.3 %     46.8 %     48.8 %     50.2 %
                         
    Total assets   $ 2,092,206     $ 2,060,683     $ 2,055,093     $ 2,045,452     $ 2,027,787  
    Less: intangible assets     189       244       300       386       473  
    Tangible assets   $ 2,092,017     $ 2,060,439     $ 2,054,793     $ 2,045,066     $ 2,027,314  
                         
    Tangible equity:                    
    Shareholders’ equity   $ 326,663     $ 332,198     $ 339,299     $ 345,597     $ 350,156  
    Less: intangible assets     189       244       300       386       473  
    Tangible equity   $ 326,474     $ 331,954     $ 338,999     $ 345,211     $ 349,683  
                         
    Tangible equity to tangible assets     15.61 %     16.11 %     16.50 %     16.88 %     17.25 %
                         
    Tangible book value per share:                    
    Tangible equity   $ 326,474     $ 331,954     $ 338,999     $ 345,211     $ 349,683  
    Shares outstanding     22,047,649       22,522,626       22,990,908       23,505,357       23,958,888  
    Tangible book value per share   $ 14.81     $ 14.74     $ 14.74     $ 14.69       14.60  

    The MIL Network –

  • MIL-OSI Security: FBI and Gary Police Seek Help Locating Missing Gary Teen

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Ja’Niyah McMichael Would Be 14 Years Old Today

    The FBI and Gary Police Department are asking for the public’s help to locate Ja’Niyah McMichael, a teenager, who has been missing since August 12, 2024. Ja’Niyah was reported missing by her mother from their home in the 1900 block of Malcom X Blvd in Gary, Indiana.

    Investigators believe Ja’Niyah may be the victim of foul play and the search for her remains an active and ongoing investigation.

    At the time of her disappearance, Ja’Niyah was last seen wearing black pajama pants, a black hooded sweatshirt, and red and black shoes. She has known connections to Gary and East Chicago, Indiana.

    Today, Ja’Niyah would be 14 years old.

    In an effort to bring Ja’Niyah home and hold those responsible accountable, there is a $20,000 reward for information that leads to the arrest and conviction of the individual(s) responsible for her disappearance. The FBI is offering a reward of up to $10,000 and the City of Gary is also offering a $10,000 reward.

    Anyone with information—no matter how small—is urged to come forward. Tips can be submitted anonymously to the FBI at 1-800-CALL-FBI (1-800-225-5324), Gary or online at tips.fbi.gov.

    MIL Security OSI –

  • MIL-OSI: Rigetti Computing Closes Investment by Quanta Computer

    Source: GlobeNewswire (MIL-OSI)

    BERKELEY, Calif., April 30, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, announced today that it has closed the previously announced investment by Quanta Computer Inc. (“Quanta”, TWSE: 2382.TW) related to their strategic collaboration agreement. In connection with the closing, Quanta purchased approximately $35 million of shares of Rigetti common stock at approximately $11.59 per share.

    “We are pleased to take this next step in our strategic collaboration with Quanta,” says Dr. Subodh Kulkarni, Rigetti CEO. “Quanta’s world-leading expertise in notebook and server manufacturing paired with Rigetti as a pioneer in superconducting quantum computing will help put us at the forefront of the quantum computing industry.”

    About Rigetti
    Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at https://www.rigetti.com/.

    Rigetti Media Contact
    press@rigetti.com

    Cautionary Language and Forward-Looking Statements
    Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including statements with respect to the Company’s future success and performance, including expectations with respect to timing of the development and commercialization of superconducting quantum computing; expectations regarding the advantages and impact of the strategic collaboration agreement with Quanta on the Company’s operations, technology roadmap, milestones, and the Company’s position in the industry. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s ability to achieve milestones, technological advancements, including with respect to its technology roadmap; the ability of the Company to obtain government contracts successfully and in a timely manner and the availability of government funding; the potential of quantum computing; the success of the Company’s partnerships and collaborations, including the strategic collaboration with Quanta; the Company’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against the Company or others; the ability to maintain relationships with customers and suppliers and attract and retain management and key employees; costs related to operating as a public company; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of the Company to implement its strategic initiatives and expansion plans; the expected use of proceeds from the Company’s past and future financings or other capital; the sufficiency of the Company’s cash resources; unfavorable conditions in the Company’s industry, the global economy or global supply chain, including rising inflation and interest rates, deteriorating international trade relations, political turmoil, natural catastrophes, warfare and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.

    The MIL Network –

  • MIL-OSI: Safe Harbor Financial Expands Executive Leadership Team with Appointments of Jeffrey Kay as SVP of Marketing and Dominic Marella as VP of Business Development

    Source: GlobeNewswire (MIL-OSI)

    GOLDEN, Colo., April 30, 2025 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (Nasdaq: SHFS), a fintech leader providing financial services and credit facilities to the regulated cannabis industry, announced two strategic appointments to its leadership team: Jeffrey Kay as senior vice president of Marketing and the return of Dominic Marella as vice president of Business Development.

    Together, Kay and Marella will play key roles in expanding Safe Harbor’s national footprint, enhancing client services and elevating brand visibility—supporting the Company’s mission to deliver compliant, scalable and technology-driven financial solutions to cannabis-related businesses (CRBs).

    “Safe Harbor is entering a new phase of accelerated growth, innovation and market leadership,” said Terry Mendez, CEO of Safe Harbor Financial. “The appointments of Jeff and Dom represent a strategic investment in both our brand and business development engine. Jeff’s marketing acumen and Dominic’s deep relationships and experience across the cannabis sector give us an unmatched edge in serving the evolving needs of cannabis operators and financial institutions.”

    Jeffrey Kay, a seasoned marketing executive with over 30 years of experience, most recently served as chief marketing officer at AMMA Investments, a vertically integrated multi-state cannabis operator. He previously founded Brandfan, a marketing agency with a diverse client roster across cannabis, retail, technology and consumer goods. In his new role, Kay will lead integrated marketing strategy, brand development and go-to-market execution, driving demand generation, sales enablement and strategic partnerships.

    “I’m honored to join Safe Harbor at such a pivotal time,” said Jeff Kay, senior vice president of Marketing. “The opportunity to shape the strategic evolution of the brand and drive measurable results for our clients and partners is incredibly exciting.”

    Dominic Marella rejoins Safe Harbor following nearly two years of entrepreneurial and fintech leadership outside the organization. A veteran of the commodities and derivatives sector, Marella brings deep experience navigating highly regulated industries. He previously led the cannabis vertical at Paro, a digital-first accounting platform, where he supported cannabis entrepreneurs navigating Illinois’ adult-use dispensary licensing process. As vice president of business development at Abaca—a company acquired by Safe Harbor in 2022—Marella led national sales efforts and was instrumental in integrating cannabis financial solutions post-acquisition. Most recently, he ran CannaTech Ventures, an incubator helping launch innovative cannabis technology startups.

    “Returning to Safe Harbor feels like a homecoming,” added Dominic Marella, vice president of Business Development. “Our team has a powerful mission and a clear opportunity to help lead financial innovation in the cannabis sector. I’m excited to capitalize on our strong foundation—partnering with operators, legacy businesses and newcomers to the space to deliver scalable, tech-forward financial solutions.”

    Key initiatives under Kay’s leadership include a brand refresh, a comprehensive demand-generation strategy and a new partnership marketing program. Marella will focus on expanding Safe Harbor’s business development operations nationally, with an emphasis on strategic client acquisition, channel partnerships and tailored financial solutions that meet the unique needs of cannabis operators navigating complex regulatory frameworks.

    Both Kay and Marella join the Company with equity-based incentives, aligning their long-term interests with those of shareholders.

    About Safe Harbor
    Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

    Cautionary Statement Regarding Forward-Looking Statements
    Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Safe Harbor Investor Relations Contact
    Mike Regan, head of Safe Harbor Investor Relations
    ir@SHFinancial.org

    Safe Harbor Media Relations Contact
    Ellen Mellody
    safeharbor@kcsa.com
    570-209-2947

    The MIL Network –

  • MIL-OSI Global: Local elections: what would a good night look like for Nigel Farage’s Reform?

    Source: The Conversation – UK – By Hannah Bunting, Senior Lecturer in Quantitative British Politics and Co-director of The Elections Centre, University of Exeter

    English local elections on May 1 mark the first time widespread voting has happened in the UK since last year’s general election. They are therefore the first big test for the Labour government – but also for Reform’s Nigel Farage. Farage has led his party into elections before but not since becoming an MP.

    Reform achieved 14.3% of the vote in July 2024 and opinion polls put them at around 25% now. Farage has declared his party is therefore the “opposition to the Labour government”.

    These elections in 23 English local authorities are about selecting the representatives that will serve communities, both in day-to-day essential operations, and during council reorganisations amid plans for decentralisation of British democracy. Yet attention is also being paid to the challenge Reform have set themselves – can they continue the transition from anti-establishment outsiders to a winning party engine?

    There are 1,641 local councillor vacancies up for election this week, in 1,401 wards. Reform are contesting more seats than any other party. In fact, there’s only a handful without their candidate on the ballot, amounting to 99.3% coverage. This is a major step forward for the party. Ukip contested 80% of this set of seats near the height of its popularity 12 years ago.

    The Conservatives are contesting 97.2%, Labour 94%, the Liberal Democrats 85.1% and the Greens 72.2%. There are candidates from others and independents, including local parties, also standing in every local authority.

    This year’s elections see the Conservative heartlands up for grabs. Known as the shire counties, some of these local authorities, such as Devon and Leicestershire, have been solidly Conservative for over 20 years. So if Reform see themselves as replacing the Tories, then these are the contests Farage’s party should be winning.

    Notably, these seats also have the lowest female representation, which has partly been driven by the Conservative dominance. Analysis of this year’s candidates shows that Reform is fielding the fewest women, meaning this gender disparity could be about to get worse.

    The gender distribution of candidates per party, with women represented in the lighter shades and men in the darker.
    H Bunting, CC BY-ND

    Recent successes

    There have been 241 vacancies in council byelections across Britain since the general election. Reform has won 15 of them. Where it fielded candidates, they’ve generally received significant vote shares, taking seats from both the Conservatives and Labour and gaining momentum. In the six-month period between October and March, Reform contested 64 of 78 council byelections (82%) and either won or came second in half of them.

    This shows that Reform can be successful – and usually on the low turnouts generally seen in byelections. With turnout being less than a third at the last two local election cycles, followed by the second lowest ever general election turnout, it’s these dedicated voters who will be affecting change this week.

    The seats up for election now were last contested in 2021 – when a “vaccine bounce” for Boris Johnson delivered the Conservatives their best local results since 2008. Now they are bracing for a bad night. If Reform and the Liberal Democrats wipe out the Tories in different areas but to the same degree, there may be no Conservative heartlands left in the country.

    Want more politics coverage from academic experts? Every week, we bring you informed analysis of developments in government and fact check the claims being made.

    Sign up for our weekly politics newsletter, delivered every Friday.

    Labour, meanwhile, did so badly in 2021 that it could even make gains due to the areas up for election. In council byelections, Reform has taken seats from Labour in some of the areas that are up now (Lancashire and Kent) but overall these locals are in Tory heartlands. Labour is defending 287 of the seats up this time – and at least 25 are vulnerable.

    How will Reform fare?

    However, local elections are often fought on local issues, which puts Reform in a difficult spot. On one hand, they could position the new faces they are putting forward for councils as members of the community.

    On the other, the party is often seen as a national entity whose main messages are on immigration and the economy, which councils don’t control. And while Farage has set his sights on damaging the two main parties in a continuation of anti-establishment sentiment, he is now trying to do so as a semi-establishment figure.

    In similar local elections in 2013, Ukip received more than a fifth of votes but only ended up with a tenth of the seats. Therein lies the biggest hurdle for new entrants to the British voting system.

    Farage’s parties have often polled well but failed to gain the concentrated pockets of support needed to win representatives. This was most recently in evidence at the general election, where Reform received a higher vote share than the Liberal Democrats but only came away with five seats, compared to Ed Davey’s 72.

    This is a particularly difficult set of elections to call for a number of reasons. Boundary changes in more than 42% of seats are confusing the picture, for one thing, and the fact that such a small number of areas are voting makes projections more difficult. Reform is also so new to these races that there aren’t past comparisons to draw on.

    But as an indicator, there are around 200 seats with no boundary changes that are particularly vulnerable to a challenger win. Of these, 60% are defended by the Conservatives, and it’s feasible that Reform could take a chunk of them. More than 900 seats are considered a Tory defence (when boundary changes are taken into consideration), but at least 400 of them are relatively safe.

    Some local authorities sit in areas that returned a Reform MP in July, such as Boston and Skegness in Lincolnshire, and many of them house constituencies that saw Reform come in second place. However, there are also areas like Cornwall where the Liberal Democrats are a strong challenger.

    What it may come down to is the strength of the party engine. Reform has found the candidates, but the test is whether its campaign has built on a growing base of support. If Reform wins are in the hundreds, they’ll be able to claim they’re on track.

    But Reform candidates then have to start the hard work of being councillors. They’ll need to adapt their “Britain is broken” slogan to start evidencing that they’re fixing it. That takes more than words.

    Hannah Bunting receives funding from the Economic and Social Research Council (ESRC).

    – ref. Local elections: what would a good night look like for Nigel Farage’s Reform? – https://theconversation.com/local-elections-what-would-a-good-night-look-like-for-nigel-farages-reform-255641

    MIL OSI – Global Reports –

  • MIL-OSI China: During visit to Eswatini, Foreign Minister Lin meets with Prime Minister Dlamini and announces additional funding for women’s microfinance revolving fund

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    April 24, 2025

    No. 115

    Minister of Foreign Affairs Lin Chia-lung is currently visiting Eswatini as President Lai Ching-te’s special envoy. He continues to carry out important engagements in Taiwan’s African ally. 

     

    On the morning of April 23, the second day of his visit, Special Envoy Lin called on Prime Minister Russell Dlamini to thank him for his friendship with Taiwan. Prime Minister Dlamini, who assumed office in November 2023, led a delegation to Taiwan in March 2024. In the same year, he spoke up for Taiwan on behalf of the government of Eswatini at major international events, including the United Nations General Assembly and the 29th Conference of the Parties to the UN Framework Convention on Climate Change, demonstrating staunch support for the diplomatic alliance between the two countries.

     

    Prime Minister Dlamini warmly welcomed Special Envoy Lin to Eswatini and thanked Taiwan for its long-standing support. He reaffirmed that relations with Taiwan were rock-solid and emphasized that Eswatini, as a sovereign nation, had the right to choose its own friends without being influenced by other countries. He underlined that Eswatini was firmly committed to standing shoulder to shoulder with Taiwan.

     

    Also on the morning of April 23, Special Envoy Lin joined Deputy Prime Minister Thulisile Dladla; Minister of Foreign Affairs and International Cooperation Pholile Shakantu; Minister of Commerce, Industry and Trade Manqoba Khumalo; and other high-level officials at an event to showcase the results of a microfinance revolving fund implemented by Taiwan and Eswatini to help women start businesses.

     

    In his remarks, Special Envoy Lin stated that Taiwan had announced an investment of US$1 million to establish the revolving fund in September 2023. He said the program provided start-up loans for women in rural areas, increased household incomes, and contributed to the economic and social development of Eswatini. In the past year or more since the fund was launched, over 500 loans had been approved, leading to changes in people’s lives and helping women achieve economic independence, he added. Highlighting a touching result of the initiative, Special Envoy Lin noted that one beneficiary had named her newborn baby Taiwan to thank Taiwan for its assistance. He further announced that the Taiwan government would inject an additional US$500,000 into the fund to further expand the virtuous cycle.  Special Envoy Lin said this underscored Taiwan’s strong commitment to economic empowerment in Eswatini.

     

    Speaking at the event, Deputy Prime Minister Dladla recalled her 2019 visit to Taiwan as foreign minister, during which she presented a proposal to the Taiwan government for the revolving fund on behalf of Queen Mother Ntombi Tfwala. She said that in 2020 the Technical Mission of the International Cooperation and Development Fund in Eswatini had introduced the Women’s Microenterprise Mentoring and Capacity Building Project, under which more than 6,000 women had received entrepreneurship skills training. Deputy Prime Minister Dladla said this was followed by a bilateral cooperation agreement to launch the fund, signed at a ceremony witnessed by the heads of state of both nations in September 2023. She praised the results that the program had achieved since it was launched just over a year ago in effectively giving women in rural areas of Eswatini an avenue to finance their start-up plans.

     

    Around 100 beneficiaries of the fund attended the event. Participants sang classic Taiwanese songs such as “Fight to Win,” creating a warm and lively atmosphere. Special Envoy Lin presented a stuffed leopard cat to the child named Taiwan, highlighting the profound friendship between Taiwan and Eswatini.

     

    The Ministry of Foreign Affairs will continue to work with the government of Eswatini to enhance the well-being of the peoples of both countries and further deepen bilateral relations. (E)

    MIL OSI China News –

  • MIL-OSI USA: ICYMI: Warren Reads 100 Acts of Trump Corruption Into Congressional Record To Mark 100 Days of the Trump Administration

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    April 30, 2025
    “[I]nstead of following through on his promise [to lower costs], Trump and his administration have paved the way for the president, his top officials, and his billionaire buddies to personally feed at the trough of government corruption.” 
    “That’s 100 corrupt acts in 100 days. Americans deserve accountability. We need to fight back—all of us.” 
    Video of Speech (YouTube)
    Washington, D.C. – On the 100th day of this Trump administration, U.S. Senator Elizabeth Warren (D-Mass.) read 100 reports of corruption from President Trump’s term so far into the Congressional record. 
    Senator Warren pointed to all the ways President Trump, his family, and associates like Elon Musk have used the presidency to enrich themselves, give favors to donors, and made it more difficult to hold him accountable for corruption. 
    Transcript: “One Hundred Days, One Hundred Acts of Corruption”U.S. Senate FloorApril 29, 2025
    As Prepared for Delivery
    Senator Elizabeth Warren: So here we are: one hundred days; one hundred acts of corruption.
    Today, I’m reading into the congressional record 100 reports of corruption from Donald Trump’s first 100 days in office. When he ran for office, Trump promised repeatedly that he would lower costs “on day 1.”  But instead of following through on his promise, Trump and his administration have paved the way for the president, his top officials, and his billionaire buddies to personally feed at the trough of government corruption. 
    So, count with me: In just one hundred days, Donald Trump, his family, and his Administration have:
    Turned the White House into a Tesla dealership.
    Fired independent commissioners at the FTC.
    Punished former officials who opposed his 2020 election lies.
    Paid for the White House Easter Egg roll by soliciting corporate sponsors who have business pending with the government.
    Helped Trump’s son set up a club — pay $500,000 for access to Trump’s cabinet.
    Declared that there would be NO tariff exceptions. Then permitted Apple’s CEO “behind the scenes” access — and poof, iPhone tariffs were cut.
    Created an opening for insider trading by reportedly giving Wall Street exclusive information about trade talks.
    Hosted million-dollar dinners between Big Pharma CEOs and their regulator RFK Jr.
    Launched crypto memecoin right before inauguration to make millions of dollars, then increased the value of those coins by signing executive orders making crypto a priority.
    Launched a meme coin for Melania, too. 
    Promised his “rich-as-hell” donors a giant tax handout, and is working to deliver. 
    Weakened rules insulating government workers from politics.
    Limited corporate foreign bribery investigations.
    Halted enforcement of the Corporate Transparency Act.
    Offered a private dinner with Trump himself—and a special tour of the White House—for the top 220 holders of his memecoin, permitting Trump and his family to profit both from the run up in the value of the coin AND the increase in trading on the Trump platform.
    Accepted $40 million for First Lady Melania’s documentary from Jeff Bezos – way above the market rate.
    Pointed to Bezos’s multi-million-dollar documentary payment as a model, when Warner Bros. asked Trump’s team how to improve its own relationship with the White House.
    Struck a deal with Amazon to stream Trump’s old show The Apprentice, which will mean more money for Trump as Amazon seeks tax breaks and other federal benefits.
    Coercing law firms to offer almost $1 billion in free legal work in an arrangement that experts say could run afoul of anti-bribery laws.
    Started undermining Medicare’s ability to negotiate drug prices after Big Pharma companies gave millions to Trump’s inauguration.
    Filed a meritless lawsuit against 60 Minutes and launched a baseless FCC investigation.
    Tried to get the AP to bend the knee and kicked them out of the White House briefing room when they refused.
    Hired Defense Secretary Hegseth’s younger brother to serve in a key role.
    Hired a longtime former partner of Don Jr. to serve as Ambassador to Greece. 
    Nominated Jared Kushner’s father to serve as Ambassador to France. 
    Selected Tiffany Trump’s father-in-law to serve as an adviser.
    Appointed an oil and gas executive to lead the Department of Energy.
    Selected a Chief of Staff who was a big-time lobbyist for clients like tobacco and mining companies.
    Named officials who had recently lobbied for oil and chemical giants to help write E-P-A rules.
    Appointed Mehmet Oz, who has close ties to Medicare Advantage insurers, to lead CMS to set payment rates and otherwise help out Medicare Advantage insurers.
    Appointed John Phelan, a major donor with no military or government experience, to lead the Navy and hand out Navy construction contracts.  
    Appointed Pam Bondi, a former lobbyist for a federal detention contractor, to lead the DOJ.
    Announced the DOJ would stop prioritizing enforcement of restrictions on foreign lobbyists, under the leadership of Bondi, who herself is a former foreign lobbyist for Qatar.
    Appointed Howard Lutnick, who has billions invested in companies accused of illegally facilitating crypto money laundering, to lead the Commerce Department.
    Appointed Marty Makary, the former executive of a company selling weight-loss drugs, to lead the FDA, which would regulate his company.
    Appointed Sean Duffy, who lobbied for the airline industry, to Transportation Secretary.
    Tapped Pete Hegseth, whose wife owns stock in large defense contractors, to lead the Defense Department.
    Tapped Doug Burgum — who made money from leasing land to Big Oil — to lead the Interior Department.
    Nominated a Big Oil lobbyist to run the Bureau of Ocean Energy Management.
    Nominated as IRS head Billy Long, an aggressive salesman for a fraud-riddled tax credit, who received donations after being nominated to clear old campaign debts. 
    Tapped Paul Atkins, a former crypto lobbyist, to lead the SEC.
    Appointed a former tax lobbyist, to lead tax policy.
    Appointed RFK Jr., who planned to get paid for anti-vax lawsuits while heading up HHS.
    Appointed a top Pentagon official who led a firm investing in defense contractors and has directed D-O-D to outsource as much as it can.
    Appointed someone who lobbied to privatize Medicare to lead OMB’s healthcare budget.
    Installed Steve Davis to effectively lead DOGE while also leading a Musk company.
    Installed another DOGE leader to control Treasury’s payment system while still holding down his day job as a software CEO.
    Handed power over crypto policy to a White House crypto czar who leads a venture capital firm that heavily invests in crypto.
    Selected a border czar who led a firm that got tens of millions of dollars of federal contracts for homeland security companies.
    Appointed Treasury Secretary Bessent who is gutting the IRS so that it can’t audit rich tax cheats — he’s a tax-dodging mega-millionaire.
    Pardoned Rod Blagojevich, former Illinois governor convicted for corruption, after his vocal support for Trump.
    Pardoned January 6 insurrectionists who tried to overturn an election he lost.
    Pardoned a Trump loyalist found guilty of wire fraud.
    Pardoned the son of a longtime Republican donor.
    Pardoned a corporation that had been fined $100 million for money laundering.
    Launched his own stablecoin while preparing to sign legislation that will help the stablecoin and let him oversee it. 
    Sold merch with presidential branding.
    Disbanded DOJ’s crypto unit after business talks between Binance and a Trump-backed crypto company ramped up.
    Halted SEC enforcement actions against crypto companies that enriched Trump. 
    Met with crypto executives who are asking Treasury to back off of oversight of their companies — all while exploring a deal to list a Trump-linked crypto company’s new stablecoin.
    Maintained financial ties between Trump officials and Trump’s media company. That includes: FBI Director Kash Patel who was gifted a huge award of Trump media company stock.
    Nominated Attorney General Bondi who owned $2 million in DJT shares.
    Paid the Education Secretary almost $1 million in Trump Media company shares.
    Intelligence Board nominees who have millions in Trump Media company shares.
    Selected a Special Envoy to the Middle East who wants to develop real estate in Gaza while running his own real estate firm.
    Appointed an FBI Director who consulted for the Qatari government.
    Picked that FBI Director even though he also received millions from a Cayman Island holding company with ties to China.
    Decided to cancel the Direct File program, which will help the bottom line of Intuit, which gave $1 million to Trump’s inauguration.
    Took its largest inauguration donation from a poultry company under DOJ scrutiny. After the donation, the SEC approved its parent company for the New York Stock Exchange.
    Dropped a probe into sexual misconduct allegations against Trump’s Education Secretary’s husband.
    Hosted dozens of foreign, federal, and state officials at Mar-a-Lago, helping enrich Trump. 
    Hosted a GOP retreat at another one of Trump’s resorts.
    Circumvented the normal contracting process to pick a company with close ties to Trump’s former campaign manager.
    Awarded a $30 million ICE contract to Trump insider Peter Thiel.
    Continued developing new Trump properties overseas, including in Saudi Arabia and the UAE.
    Hatched a plan for the State Department to pay Tesla $400 million dollars.
    Accepted a $4 million inauguration donation from a GOP megadonor and nominated him as UK ambassador the same day.
    And Donald Trump took actions that could advance the personal interests of his co-president Elon Musk: 

    Fired EEOC leaders investigating and suing Tesla.
    Illegally fired the NLRB Chair, which filed a complaint against SpaceX.
    Gutted CFPB staff and fired the Director after they investigated complaints against Musk’s companies.
    Gutted the Department of Labor office investigating Tesla and Space X.
    Fired the USAID Inspector General, who launched a probe into satellite terminals made by Musk’s Starlink. 
    Targeted the National Highway Traffic Safety Administration staff who were reportedly, quote, a “thorn in Tesla’s side.”
    Said Musk would self-police his conflicts of interest. Yeah right…
    Pressured the Administrator of the FAA, which fined Musk’s SpaceX, to resign .
    Permitted Musk to keep his financial disclosure hidden. I’ve got a new bill to fix that!
    Allowed Musk’s Starlink to start working with the FAA after Musk criticized the FAA’s air traffic telecom system. 
    Made Musk’s SpaceX the frontrunner for a new lucrative Golden Dome contract.
    Stood by Musk when his X executives told an advertising firm to increase ad revenue — threatening that Musk could interfere with a pending merger.
    Permitted Musk to join Trump’s interview with the Air Force secretary nominee while SpaceX held billions of dollars in contracts with the Air Force. 
    Permitted the National Transportation Safety Board to share news related to the airplane crashes in Washington and Philadelphia only on Musk-owned X.
    Permitted the Social Security Administration to only share important public communication on X.
    Dropped DOJ’s anti-discrimination complaint against Musk’s SpaceX.
    Fired FDA staffers reviewing Elon Musk’s Neuralink clinical trial applications.
    And for our closing six moves that make every bit of this corruption even harder to root out, Trump got rid of cops on the beat:

    Fired 18 Inspectors General who make sure the federal agencies follow the law.
    Fired the head of the Office of Special Counsel who protects whistleblowers and makes sure that civil service laws are fired.
    Fired the head of the Office of Government Ethics who watches to see that the President and his Administration follow the laws on conflicts of interest, bribery and other ethics issues.
    Fired DOJ prosecutors who worked on January 6th investigations.
    Sidelined DOJ’s office that reviews the legality of executive orders.
    Gutted DOJ’s office that prosecutes misconduct by public officials.
    That’s 100 corrupt acts in 100 days. Americans deserve accountability. We need to fight back—all of us. 

    MIL OSI USA News –

  • MIL-OSI Russia: Financial News: Saint Petersburg to Host Economic Research Seminar on Monetary Policy

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    On July 1, the Bank of Russia, the New Economic School and the regulator’s basic department at the National Research University Higher School of Economics will hold the 15th seminar on economic research in St. Petersburg on the topic “Monetary policy and inflation: the effects of asymmetry and behavioral aspects.”

    The participants will discuss what information influences household inflation expectations, how stock prices and inflation are related, and the role of the money flow channel. Research on the conditions for the effectiveness of monetary policy communication and the Phillips curve in a network economy will also be presented.

    To participate offline or online you must: register.

    Preview photo: Gorbacheva_jul / Shutterstock / Fotodom

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23587

    MIL OSI Russia News –

  • MIL-OSI Video: America First Foreign Policy at 100 Days

    Source: United States of America – Department of State (video statements)

    In the first 100 days, President Trump’s State Department, led by @SecRubio, has:
    Delivered America First foreign policy
    Ensured fair economic & trade relationships
    Restored U.S. leadership
    Curbed illegal immigration and fentanyl
    Secured our borders
    Combatted our adversaries
    Promoted lasting peace

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    X: https://x.com/StateDept
    Instagram: https://www.instagram.com/statedept
    Flickr: https://flickr.com/photos/statephotos/

    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: https://www.state.gov/department-email-updates/

    State Department website: https://www.state.gov/
    Careers website: https://careers.state.gov/
    White House website: https://www.whitehouse.gov/
    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=a7oGMjXXJCo

    MIL OSI Video –

  • MIL-OSI: OTC Markets Group Welcomes Datatec Ltd to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Datatec Ltd (JSE: DTC; OTCQX: DTTLF, DTTLY), an international ICT solutions and services group, has qualified to trade on the OTCQX® Best Market.

    Datatec Ltd begins trading today on OTCQX under the symbols “DTTLF and DTTLY.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Admission to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    Datatec management commented:
    “We are delighted to begin trading on the OTC Market’s premier tier, OTCQX. This additional trading venue will allow US investors access to Datatec shares quoted in US dollars and provides a platform to disseminate Datatec’s corporate disclosure to US investors with transparency. The company remains committed to maintaining the best possible disclosure for its shareholders.”

    About Datatec Ltd
    Datatec is a global digital channels group providing Cybersecurity, Networking and Hybrid Cloud infrastructure solutions and services in more than 50 countries across North America, Latin America, Europe, Africa, Middle East and Asia-Pacific. Through its core divisions, the group offers Value-added Technology Distribution (Westcon International) and Integration and Managed Services (Logicalis International and Logicalis Latin America). Datatec has been listed on the JSE Limited for the past 30 years.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATSTM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI Global: Tesla sales fall while its stock rallies – what this tells us about perceptions of Elon Musk

    Source: The Conversation – UK – By Akhil Bhardwaj, Associate Professor (Strategy and Organisation), School of Management, University of Bath

    bluestork/Shutterstock

    Electric vehicle maker Tesla recently shared the news of disappointing first-quarter results when its earnings report was weaker than most Wall Street analysts had expected. Tesla’s revenue had tumbled 9% and its profit was down 71%.

    Typically, this would result in a sharp decline in investor confidence and share prices. Tesla’s share prices have indeed dropped over 40% this year. But after the earnings report, Tesla’s stock rallied when CEO Elon Musk vowed to scale back his involvement with the US Department of Government Efficiency (Doge) and focus on Tesla instead.

    He said that he would spend a day or two a week on government matters at president Donald Trump’s request. In any case, Musk is a “special government employee”, which means he can work in that role for 130 days in a year. Assuming his role started on January 20 – Trump’s inauguration day – it would need to be terminated by the end of May had he continued to work five days a week.

    Tesla maintains that the slump in its earnings can be attributed to many factors, including concerns about supply chains and tariffs, as well as energy prices.

    But Musk’s unpopularity has probably affected sales, with his approval among consumers souring. There will be a multitude of factors at play that can explain Tesla’s decline. What is less ambiguous is the response of the market to Musk – just the fact that he said that he would devote time to Tesla rallied the investors.

    Apparently, the boss’s attention is highly valuable. To some extent, this is not surprising – what a CEO (or leader) chooses to focus on and what they ignore sets the tone within a firm.

    That said, it hardly seems to be the case that this is about setting a tone. Rather, the market (or the investors) seems to trust Musk. This is no mean feat for a CEO prone to engage in bluster. This investor trust contrasts with consumer trust and goodwill, which seem to be eroding at the same time.

    Musk has been called an absent CEO and analysts have noted that the demands on his time imply that he cannot be very active in running Tesla. Perhaps that is true.

    Or perhaps Musk thinks that Tesla is too big to fail and will be protected by the US government. Short-term bumps are less relevant for a firm that is pivoting away from its core business, as Tesla now appears to be doing.

    The future for Tesla

    Musk has stated that Tesla is increasingly an AI and robotics company, saying this is where the firm believes the “future lies”.

    Setting aside energy, data is one of the most important resources powering AI. It is the key input for training large language models (LLMs) and machine algorithms.

    The quality of an AI algorithm is directly correlated with the data it trains on. The larger and more diverse the data set, the better (and more lucrative) the AI agent is likely to be. There seems to be substaintial overlap in the data that AI has been trained on, although details are closely guarded.

    In addition, there is a possibility of training data running out, which makes it an even more precious resource.

    Companies from OpenAI to Meta seem to be scraping the internet for the same publicly available information (while apparently ignoring copyright issues). Now Musk seems to have access to an unprecedented amount of data that is not available to his competitors.

    His department at Doge has reportedly pushed for access to sensitive social security information, for example, that includes dates of birth, citizenship status, income, addresses, other tax-related information.

    Musk-owned company xAI launched chatbot Grok in 2023.
    bella1105/Shutterstock

    Musk-owned interests have also developed an LLM chatbot called Grok. And while Musk and his spokespeople deny that they have siphoned data for training AI models, there seems to be some indicators that this could potentially be done.

    It appears that Musk has manoeuvred himself into a position where, despite his unpopularity among car buyers, he can still ensure that his companies will thrive.

    But what does Trump get in return? After all, the president of the US considers himself a dealmaker. At least one analyst has suggested that Musk is the “fall guy” to take the hit when the Doge cuts begin to bite ordinary Americans.

    Regardless, it does appear that some sort of bargain has been struck between Musk and Trump. And it seems to be paying off for Musk – regulations around self-driving cars have been slashed, leading to another surge in the price of Tesla stock.

    Trump has also signed an executive order for AI education in primary and secondary schools. This is sure to increase the size of the market, which is clearly good news for companies in the AI sector.

    It would be foolish to underestimate the world’s richest man or to bet against him. But it’s important not to lionise CEOs to the extent that they become cult figures.

    In the Wealth of Nations, 18th-century Scottish economist Adam Smith made the point that the butcher, brewer and baker do not act from altruism. Instead, it is their own self-interest that puts food and drink on people’s tables. We are far better served keeping that in mind to make sense of the actions of Musk – or the investors in Tesla.

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

    – ref. Tesla sales fall while its stock rallies – what this tells us about perceptions of Elon Musk – https://theconversation.com/tesla-sales-fall-while-its-stock-rallies-what-this-tells-us-about-perceptions-of-elon-musk-255469

    MIL OSI – Global Reports –