Category: housing

MIL-OSI United Kingdom: UK researchers access more quantum and space Horizon funding
Source: United Kingdom – Executive Government & Departments 2

Press release

UK researchers access more quantum and space Horizon funding

EU Commissioner visits London as UK researchers and businesses get access to more Horizon Europe funding calls for quantum and space research
Minister for EU Relations today welcomes EU Commissioner Maroš Šefčovič ahead of his first official visit to the United Kingdom.

Visit comes as UK researchers and businesses benefit from wider access to Horizon Europe funding calls for quantum and space research, which will help drive sector and economic growth and deliver our Plan for Change.

New backing from the world’s largest programme of research collaboration, worth c.£80 billion, builds on high-potential tech areas like AI, telecoms and high-performance computing

Minister for EU Relations, Nick Thomas-Symonds, today welcomes EU Commissioner for Trade and Economic Security, Interinstitutional Relations and Transparency, Maroš Šefčovič, ahead of his first official visit to the United Kingdom under this government (Tuesday, 29 April 2025).

Commissioner Šefčovič’s visit follows the recent engagement with European Commission President Ursula Von Der Leyen last week, providing a significant opportunity to review the progress of ongoing discussions between the UK and the European Union. This engagement is a key step in the lead-up to the UK-EU Summit scheduled for next month.

This visit comes as UK scientists, researchers and businesses working on the latest innovations in quantum and space technologies have now been given access to more Horizon Europe funding, under the new 2025 Horizon Europe Work Programme published last week (Friday 25 April).

Access to Horizon Europe funding, and the opportunities for international collaboration that Horizon presents, will be an important boost to these two sectors which are at the cutting edge of new opportunities for economic growth, helping to drive the Government’s Plan for Change.

These are technologies that will be instrumental to the future of the economy: quantum computing alone is projected to deliver $5-10 billion of benefits globally over the next 3-5 years, while since 2015 the UK has attracted more private investment in space than any other country outside of the United States.

During his visit in the UK, the European Commissioner for Trade and Economic Security, alongside the Minister for the Cabinet Office, Nick Thomas-Symonds, will meet professors at Imperial College London who have benefited from Horizon funding for their projects.

Minister Nick Thomas-Symonds will co-chair the Withdrawal Agreement Joint Committee with Commissioner Šefčovič, who is also scheduled to meet with the Secretaries of State for the Foreign, Commonwealth and Development Office, the Department for Business and Trade, and the Northern Ireland Office.

Paymaster General and Minister for the Cabinet Office (Minister for the Constitution and European Union Relations), Rt Hon Nick Thomas-Symonds MP, said:

In just under a month, the United Kingdom will host the UK-EU Summit here in London. Today provides an opportunity to take stock of negotiations and the progress made. We are fully aligned in our ambitions to build a safer, more secure, and prosperous future for people across the UK and Europe.

We will always act in the national interest as we work towards a strong and durable strategic partnership with our European partners, unlocking new opportunities for British citizens and businesses.

UK Science Minister Lord Vallance said:

Thanks to this welcome news, the opportunities for British researchers and businesses working in quantum, space, and beyond are only set to grow.

They now have greater access to one of the world’s foremost vehicles for R&D funding, and an even bigger chance to build the international ties which we know are critical to advancing knowledge, tackling the world’s biggest challenges, and delivering the economic growth that is at the heart of this Government’s Plan for Change.

I want innovators up and down the UK to seize the moment that stands before them. Horizon’s doors are open to you, and we have support available to help you. Now is the time to bid for funding, build consortia, and take your work to the next level.

The UK gained access to the vast majority (95%+) of Horizon funding calls, when we associated to the programme in 2024, with some very limited exceptions on some emerging technologies.

Today’s breakthrough comes after a period of constructive collaboration between UK and EU teams and means that more British experts working on space and quantum can now confidently bid for a share of the c.£80 billion that is available through Horizon overall.

They can also build consortia with research partners across Europe, and beyond in Canada, Switzerland, and more. This includes complete access to all Horizon Europe quantum funding calls.

Horizon also offers a huge opportunity to businesses and researchers focusing on other cutting-edge technologies, like AI, telecoms, and high-performance computing, including through access to cutting-edge computing resources through EuroHPC. Recent UK-EU engagement has ensured that the UK retains open access to all calls in these areas.

The Horizon Europe programme is an innovation powerhouse –spending over €380 billion on R&D in 20231 – and fostering deep and high-quality links between the continent’s brightest minds, and the UK’s, will be critical if we are to seize the promise for science and tech innovations to support the Government’s Missions to grow the economy, fix the NHS and improve health outcomes and deliver clean energy under the Plan for Change. Innovative and high-potential sectors like space and quantum will be instrumental to rebuilding the foundations of the economy, and kickstarting growth.

Greater access to Horizon is a win for the UK, given the growing importance of space and quantum to the economy and society. The UK space sector already employs 52,000 people and generates an of £18.9 billion each year.

Meanwhile new innovations in quantum – harnessing the unique properties of subatomic particles to process information and solve problems – are already unlocking breakthroughs in healthcare, logistics, financial services and more. On top of this, experts working in fields like AI, high performance computing, and future telecoms continue to enjoy valuable Horizon access, as well as a vast number of other sectors including food and agritech, digital, industry and more.

British researchers having access to more Horizon science funding calls also further emphasises the value of the UK’s participation in the EU’s Copernicus Earth Observation programme.

Furthermore, the UK and EU have a strong shared commitment to developing assured and independent European access to space: work which forms a key part of the UK’s own ambitions for space launch. With plans for the first launches from SaxaVord in the Shetland Islands later this year, the UK is a leading international partner and cooperator in Europe’s space ambitions and it is encouraging that British researchers will be able to access calls that help to further Europe’s ambition.

There is no time to lose for businesses, researchers, and scientists working in quantum, space and beyond to take advantage of this news, because new Horizon funding calls open in the coming weeks. New space and industry calls open from Thursday 22 May, and digital calls open from Tuesday 10 June.

Notes to editors

Since 2024, the government has provided extensive assistance to our R&D communities to maximise their chances of applying and succeeding in Horizon Europe. In addition to concrete funding initiatives, such as Pump Priming, we recently piloted brokerage visits to Italy, Germany and Spain for UK innovators and researchers looking to build Horizon consortia. Last month, more than 500 of the UK’s leading researchers, businesspeople and scientists gathered at London’s Oval for a Showcase event sharing insight on opportunities available through Horizon. Further information, including practical support on how to apply, is available on the Horizon Hub website. UK Research and Innovation (UKRI) also host regular events that help guide businesses and researchers through the opportunities on offer and the application process. We will continue to review the needs of the UK R&D community in order to offer support and facilitate access to Horizon Europe opportunities.

Potential applicants can find Horizon Europe calls (funding opportunities) open to UK-based applicants using the European Commission’s funding and tender opportunities portal.

More information on how to submit applications are available on the European Commission’s website. The pre-publication of the Horizon Europe 2025 Work Programme can be found here.

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Published 29 April 2025
MIL OSI United Kingdom –
April 29, 2025
MIL-OSI New Zealand: Budget 2025: The Growth Budget

Source: New Zealand Government

Tēna koutou kātoa. Greetings everyone. Can I thank you Malcolm for that kind introduction and thank everyone who has taken the time to be here today. My special thanks go to our hosts Metco Engineering and the Hutt Valley Chamber of Commerce.
Let me also acknowledge my colleagues who join us today – your local MP and my Associate Minister of Finance the Hon Chris Bishop, together with the Minister of Education the Hon Erica Stanford.
This factory is a bit of a different setting than the conference centre or ballroom Ministers typically use for a pre-Budget speech. Why?
Because places like this are the engine room of the New Zealand economy.
Our Government knows that to speed up the economic recovery New Zealanders need we have to get this growth engine cranking.
I appreciate that economic growth can be a bit of an abstract concept: the work that happens on this factory floor is what it’s all about.
The workers at Metco solve problems, coming up with new products and manufacturing processes for a range of industries. They design and create clever components for customers around the world – producing everything from window stays through to bus stops.
Metco has grown successfully by making investments in its own machinery and technology and by hiring and up-skilling great people who come up with innovative ideas and then make them happen.
The growth of businesses like MetCo, and indeed of all the businesses represented in this room today, has created good jobs and livelihoods for the people of the Hutt Valley community.
It’s also allowed your businesses to make healthy tax contributions, which helps fund the Government’s investment in health services, schools, vital infrastructure and other important public spending.
Thank you for that contribution, we don’t take it for granted.
New Zealand needs more success stories like MetCo: Your growth is what’s needed to deliver the kind of country we all want: with better living standards, better job opportunities and more financially secure families.
That’s why our Government is going for growth.
Earlier this year we released a snapshot of the work we have underway to support this growth agenda. Going for Growth sets out 87 specific actions we are taking under five key themes:

Developing talent
Competitive business settings
Innovation, technology and science
Overseas investment and trade
Infrastructure for growth

I encourage you to check out the plan and the work underway. There’s more to come.
For today though, I’m going to switch out of my Economic Growth hat and into my Minister of Finance hat and focus my remarks on this year’s Budget.
The Context for Budget 2025
The Government’s growth ambition has been front and centre as we’ve put the Budget together.
We know that global uncertainty is challenging for many of you and we’re determined our Budget will play a role in giving you confidence for the future.
But let me be blunt: it’s not the easiest time to be putting together a Budget.
New Zealand is still recovering from the economic damage inflicted during the Covid period and we’re now facing the headwinds of further global instability.
There is a pressing need for greater investments in our health system, our education system, our defence force and other areas, and very little money to pay for those investments.
Our Government is also acutely conscious of the challenging economic circumstances many New Zealanders have experienced in the past few years as we’ve emerged from a period of very high inflation and rapidly rising interest rates.
The pain is still rippling through our communities. Kiwis feel it in the higher prices they still pay for almost everything, in higher levels of unemployment and in struggling local businesses. The cost of living remains a top-of-mind concern.
The good news is that, despite significant global challenges, a steady economic recovery is now taking place here, with export-led growth gathering strength, business confidence coming off its lows and the primary sector benefiting from higher commodity prices and mostly favourable growing conditions.
Having considered everything happening around the world, the Treasury is continuing to forecast accelerating growth in the New Zealand economy over the coming year, with falling unemployment forecast to follow in the second half of the year.
There’s no magic wand to wish away the price rises baked in over recent years, but getting inflation and interest rates under control has been essential to achieving this economic recovery.
That’s why I always take pause to celebrate that since our Government came to office inflation has returned to normal levels, resulting in a 200 basis point reduction in interest rates.
We must not take this progress for granted.
While some pretend we can fix all the post-Covid damage with yet more extravagant government spending, the economic truth is that they are wrong.
The only way to sustainably overcome cost of living pressures is through successive years of stable inflation, careful investment and sustained economic growth.
Our Government is committed to the responsible fiscal management and growth supporting policies needed to make that happen.
Debt, deficit and the path out
An important part of that effort is getting our own books in order. That’s a big task.
The previous Government’s spending decisions during and after Covid have left New Zealand with a sea of debt and red-ink in the government finances.
Government debt leapt up by almost $120 billion between 2019 and 2024, soaring from under $58 billion to $175 billion.
Those are big numbers, almost too big to comprehend, so let me explain it this way: That amounts to $22,000 more in debt for every New Zealander.
You may well ask: what do we have to show for all that debt?
To give you some further historical context, New Zealand’s net core Crown debt, which once hovered between five and 25 per cent of GDP, rose to around 42 per cent last year. That’s the highest level of government debt New Zealand has shouldered since the mid-1990s.
Servicing that debt is expensive.
The interest bill on government debt has soared from $3.6 billion in 2014 to $8.9 billion last year. That sum is more than annual core Crown expenses for the Police, Corrections, the Ministry of Justice, Customs and the Defence Force combined.
Our Government’s goal is to put net core Crown debt on a downward trajectory towards 40 per cent of GDP and in the longer term keep it below that percentage.
Why? Because allowing debt to keep spiralling would threaten the livelihood of every New Zealander.
We must ensure our country is financially strong and resilient enough to effectively respond to whatever the future may throw: be it earthquakes, extreme climatic events, biosecurity incursions or whatever. We need the world to keep seeing us as a good country to invest in and lend to. Manageable debt levels are an essential foundation for a strong economy and for your financial future.
Achieving lower debt levels isn’t easy: especially because the government books remain out of balance.
The post-Covid ‘structural deficit’ has left a big gap between what the country needs to fund to deliver on the spending commitments previous Budgets have made and what we need to earn to pay for that spending.
The Government is currently borrowing billions to bridge the gap.
Every Thursday afternoon, New Zealand Debt Management issues around $500 million of Government bonds. Some of this is to that roll over existing bonds that have expired, but large chunks of it are for new borrowing.
That level of borrowing obviously can’t go on forever, or else our kids and grandkids will be left with unsustainable debt and considerable economic uncertainty.
Most of you can probably relate to this if you think about your own household budget: sure, sensible borrowing has its place, but no overdraft can be extended forever, and while you can keep giving the credit card a hammering, left unpaid, it does, eventually, get declined.
It’s worth bearing this in mind next time somebody tries to suggest to you that the New Zealand Government needs to spend more on something.
The second question always needs to be: but how will we pay for it?
Our Government’s strategy is to reduce the deficit over time, through a gradual programme of consolidation and careful spending choices.
We are committed to maintaining stability for New Zealanders, by continuing to invest in essential frontline services, infrastructure for growth and social supports like superannuation.
But delivering those things requires us to make careful choices about what we spend elsewhere.
That’s why we’ve committed ourselves to ongoing reprioritisation and fiscal restraint. It isn’t easy, but it is essential.
Believe me, I’d rather we were in clover, with money to spend on all the good ideas we hear. But the reality is that we are governing in tighter times.
Economic growth is essential to our fiscal repair job. It’s simply the most effective way to raise government revenue, and to give us better choices for the future.
Some have suggested a different approach. They say New Zealand should seek to close the deficit by simply adding more and higher rates of taxes to Kiwis’ wages, savings, wealth or capital.
We reject that approach.
Punishing Kiwis with higher taxes right now would undermine our recovery, strangle growth and threaten the economic stability New Zealand needs.
It would pull the rug out from all those businesses and industries who are already just hanging on. And it would send an exodus of Kiwi talent and wealth to Australia and beyond.
It would be exactly the wrong recipe for a country whose future prospects depend on investment and growth.
Changes in the economic and fiscal outlook since HYEFU
The Treasury’s last set of economic forecasts was presented at the Half Year Update in December.
As you know, the global economic outlook has worsened considerably since that update.
Tarriff announcements by the US government, countervailing tariffs being imposed by China and an uncertain path for future tariffs and exemptions have created volatile global economic conditions with forecasters around the world agreeing that global growth will be lower this year and next year than they were previously predicting.
New Zealand can’t escape the fallout.
Accordingly, Treasury has adjusted the forecasts it presented in December, reducing their assumptions of real GDP growth in New Zealand in 2025 and 2026.
New Zealand’s economy will still be growing, but not as fast as forecast a few months ago.
That lower growth trajectory has an inevitable impact on the government books, reducing revenue and threatening our already difficult return to surplus and debt reduction.
At the same time, it’s clear that the country’s need for investment has not lessened: whether it be in the infrastructure we need for a more productive future, the funding needed to meet pressures in our health service and education system; or the need to rebuild our defence capability to meet the challenges of a less stable world.
On top of all of that, it’s also the case that New Zealand’s long-term productivity and savings challenges haven’t gone away.
So there’s a huge amount to juggle in this year’s Budget.
How has the Government managed these challenges?
We started with that question that I suggested to you earlier: How do we pay for the things we need now without putting our future economic stability at risk?
Our approach has been threefold.
First, there has been a very high bar for new initiatives in the Budget. I can confirm today that there will be no lolly scramble in Budget 2025. New spending initiatives are strictly limited to the most important priorities: our focus has been on health, education, law and order, defence, and a small number of critical social investments. We have also found room for modest measures to support business growth and to provide some carefully targeted cost of living relief.
Second, beyond a small number of exceptions, government departments are not receiving additional funding in the Budget. We expect government agencies to adjust themselves to New Zealand’s limited fiscal means. This will require restraint in public sector wage increases and an ongoing commitment to getting more impact out of every dollar spent.
Third, we have undertaken a significant savings drive.
That effort has involved Ministers identifying areas of previously committed spending that can no longer be justified in light of the challenging circumstances New Zealand now faces.
We’ve analysed spending decisions made by previous governments and re-evaluated them in the context of today’s constraints. This has involved a line-by-line review of previous funding commitments, including money put aside in contingency.
This reprioritisation exercise has required careful consideration and some tough, but necessary, choices.
At every step, we’ve asked ourselves two questions:

Can these dollars be justified when we are borrowing to pay for them?
Can we be sure these dollars will do more good in this area than if invested in our most pressing priorities – like funding essential health services, better educating our kids, defending New Zealand’s security or ensuring our future growth?

Taken together, the Government’s savings drive has freed-up billions of dollars. Those savings will now be re-deployed to fund New Zealand’s most pressing priorities.
Sticking to the fiscal strategy
In this year’s Budget we’ve also had to carefully consider whether, in light of major global economic events, our fiscal strategy still remains achievable.
The strategy is focused on two key goals: putting net debt on a downward trajectory and returning the books to an OBEGALx surplus by 2028.
This strategy matters, it matters for getting the books back in order and that’s about more than a set of numbers. It’s about keeping interest rates lower and providing a solid platform for future growth. It’s about ensuring New Zealand continues to be seen as a stable, reliable place to invest in and lend to. It’s about making sure we don’t leave our kids and grandkids with debts they just can’t repay.
At our last update in December – well before President Trump’s “Liberation Day” – we were expecting a small surplus in 2029, and it remained our intention to returning it a year earlier if possible.
I can confirm that our Government remains committed to those goals.
Sticking to them has required some careful adjustments in this year’s Budget.
The key change we have made is to the size of this year’s “operating allowance” – that is the amount of money put aside for new spending.
At the Half Year Update, the Treasury forecast that the “allowance” in Budget 2025 would be $2.4 billion.
That was always a small envelope. However, as I outlined earlier, our approach has been to supplement our new spending by reprioritising funds from elsewhere.
I am confirming today that the Government has reduced the size of our Budget 2025 operating allowance to $1.3 billion.
This means we will be spending billions less over the forecast period than would have otherwise been the case. This will reduce the amount of extra borrowing our country needs to do over the next few years and it will keep us on track towards balanced books and debt reduction.
The fiscal forecasts will not be finalised until later this week, but according to the latest numbers I have seen, this smaller operating allowance means we will continue to forecast a surplus in 2029.
The reality of global economic events is that if we’d pushed on with a larger operating allowance then we would be staring down the barrel of even bigger deficits and debt.
Let me emphasise once again: our Budget will still deliver increased investment in the things that really matter to Kiwis: like health, education, law and order, the defence force, business growth and targeted cost of living relief. Those things are important to you and they’re important to our Government.
Our careful reprioritisation approach means we can continue to make progress on today’s priorities while ensuring we are better positioned to face the challenges tomorrow will bring.
Yes, those challenges loom large.
But let’s get real: global instability may not be a passing trend. New Zealand can’t expect to keep borrowing as much as we are now. The world doesn’t owe us any favours.
This is not the time to kick the can down the road.
We must act now to secure our financial future.

Conclusion
In conclusion, Budget 2025 takes place against a difficult global backdrop.
We can’t wish that away. What we can do is focus on the things in our control.
Our Government is doing just that, by providing a predictable, steady approach to economic and fiscal management.
In an unstable world we are staying the course with responsible policies that provide stability, support investment and make New Zealand an attractive place for the world to trade and do business with.
These sensible policy approaches are the base from which we will deliver better choices and investments in the years ahead.
With those basics in place, there is much for Kiwi businesses to feel optimistic about.
New Zealand has enormous economic growth potential.
We are a safe, secure country with a growing constellation of free trade agreements and a global reputation as a good place to do business.
We are blessed with abundant natural resources – everything from ocean to freshwater, fertile land and temperate weather to abundant minerals.
In a world worried about food security, we feed more than 40 million people with levels of efficiency and sustainability that are the envy of many.
We have a long history of stable democracy, strong institutions and rule of law.
We’ve delivered scientific breakthroughs and global success stories and we will continue to do so. As I stand here today, we are world leaders in sending rocket to space – rockets that include components made right here in this factory.
Fundamentally, I’m optimistic about New Zealand’s economic future because I have faith in you: the New Zealanders who get out of bed each morning and go and make things happen.
I’m optimistic because I see how hard Kiwis work. I see how much effort Kiwi parents go to for their kids. I see how much employers and workers care about their communities. We are a smart, innovative, resilient people.
The next decade can be our decade. That requires good and steady government and careful spending choices. This year’s Budget will not be a lolly scramble. What this Budget will be is a responsible Budget that secures New Zealand’s future.

MIL OSI New Zealand News –

April 29, 2025
MIL-OSI New Zealand: Taupō Hospital accredited to train next generation of rural doctors

Source: New Zealand Government

Taupō Hospital has become the first hospital in the North Island to receive accreditation to deliver Australian College of Rural and Remote Medicine (ACRRM) training, Health Minister Simeon Brown and Associate Health Minister Matt Doocey have announced.“The Government is committed to growing and strengthening our health workforce, and a strong rural workforce is a key part of that,” Mr Brown says.“In rural settings where access to specialist health services can be limited, generalist doctors – who can work flexibly across multiple disciplines and service areas – play a vital role.“This accreditation is a significant step towards building a stronger rural health workforce in Taupō. It will help increase the number of doctors trained with the broad skills needed to support the surrounding rural communities.“Rural generalists can sustainably manage a broad range of patient needs and work within clinical networks to ensure patients get access to specialist teams when required.“The ACRRM programme will enable registrars to train to work in Taupō Hospital while also developing advanced skills in fields such as obstetrics, anaesthetics, mental health, or endoscopy.Mr Doocey says being an accredited ACRRM training location means Taupō can attract both New Zealand and Australian registrars and graduates and provides an opportunity for some New Zealand doctors working overseas to return home during their training.“One of the five priorities of the National Rural Health Strategy is to create a valued and flexible rural health workforce, and training young doctors as rural generalists directly supports this goal,” Mr Doocey says.“Taupō Hospital’s new accreditation complements the existing pathway for New Zealand doctors through the New Zealand Rural Hospital Medicine Training Programme. “All New Zealanders deserve timely access to quality healthcare, and the Government is committed to improving health outcomes, particularly for the one in five Kiwis living in rural areas.“To improve access and rural health outcomes, we must invest in growing and supporting the rural health workforce. Taupō Hospital’s accreditation is an important step towards that.”

MIL OSI New Zealand News –

April 29, 2025
MIL-OSI Security: Ohio Men Receive Lengthy Prison Sentences for Trafficking Fentanyl and Methamphetamine, and other charges

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

AKRON, Ohio – Andrew Corbin, 36, and Calvin Roberts, 42, both of Akron, have been sentenced to prison after pleading guilty to drug trafficking conspiracy charges. U.S. District Court Judge John R. Adams sentenced Corbin to 15 years (180 months) in prison. Corbin pleaded guilty to conspiracy and possession with intent to distribute fentanyl and methamphetamine and to using his residence to conduct drug-related activities. Roberts was sentenced to more than 19 years in prison (235 months) by Judge Adams. Roberts pleaded guilty to conspiracy and distribution of fentanyl and methamphetamine and for using his home to store the substances and conduct drug transactions. Additionally, Roberts pleaded guilty to being a felon in possession of a firearm and ammunition. He was previously convicted of trafficking heroin in 2013 and 2020.

According to court documents, from about April 1 to about Aug. 28, 2023, Roberts obtained distribution quantities of methamphetamine and fentanyl from a local supplier. In turn, Roberts would sell drugs to his neighbor, Corbin, who lived only a short distance away on the same street. The two defendants regularly sold drugs out of their homes. Using a network of co-conspirators, they further distributed these drugs to customers in and around the Summit County area.

During a search warrant execution of Roberts’s residence on Aug. 28, 2023, investigators seized a loaded Smith and Wesson 9mm pistol, ecstasy pills, a digital scale, an extended magazine, and two cellphones. He later admitted to selling fentanyl and methamphetamine out of his home for about $1,600-$1,900 per pound. On the same day, investigators executed a search warrant at Corbin’s residence and seized a Phoenix Arms 9mm pistol, ammunition, scales, drug paraphernalia, and several cellphones. During the investigation, Corbin admitted to using and selling drugs that he purchased from Roberts.

Collectively, the seized drugs weighed in at approximately 17 ounces and were calculated to have a street value of more than $8,000.

Other co-conspirators were also indicted in this case. Ernest Shropshire, 39, of Akron, pleaded guilty to drug conspiracy charges and is scheduled to be sentenced May 22, 2025. Phillip August, 57, of Akron, pleaded guilty to drug conspiracy charges and is scheduled to be sentenced May 20, 2025.

This case was investigated by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF). The case was prosecuted by Assistant U.S. Attorney Joseph P. Dangelo for the Northern District of Ohio.

MIL Security OSI –

April 29, 2025

MIL-OSI: Five Star Bancorp Announces First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

RANCHO CORDOVA, Calif., April 28, 2025 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), today reported net income of $13.1 million for the three months ended March 31, 2025, as compared to $13.3 million for the three months ended December 31, 2024 and $10.6 million for the three months ended March 31, 2024.

First Quarter Highlights

Performance and operating highlights for the Company for the periods noted below included the following:

	Three months ended
(in thousands, except per share and share data)	March 31, 2025			December 31, 2024			March 31, 2024
Return on average assets (“ROAA”)		1.30	%		1.31	%		1.22	%
Return on average equity (“ROAE”)		13.28	%		13.48	%		14.84	%
Pre-tax income	$	18,391		$	19,367		$	14,961
Pre-tax, pre-provision income⁽¹⁾	$	20,291		$	20,667		$	15,861
Net income	$	13,111		$	13,317		$	10,631
Basic earnings per common share	$	0.62		$	0.63		$	0.62
Diluted earnings per common share	$	0.62		$	0.63		$	0.62
Weighted average basic common shares outstanding		21,209,881			21,182,143			17,190,867
Weighted average diluted common shares outstanding		21,253,588			21,235,318			17,272,994
Shares outstanding at end of period		21,329,235			21,319,083			17,353,251

⁽¹⁾ See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.

James E. Beckwith, President and Chief Executive Officer, commented:

“The strength of Five Star Bank’s first quarter 2025 financial results is emblematic of a reputation built on an unwavering commitment to customers and community partners who rely on our speed to serve and certainty of execution for their own successes. This differentiated customer experience has created great demand for our services and seized market opportunities in San Francisco. As we continue to grow our presence, we now have 31 San Francisco Bay Area employees. As of March 31, 2025 our San Francisco Bay Area operations had $379.8 million in total deposits.

At the Company level, total loans held for investment increased by $89.1 million, or 2.52% (10.09% when annualized). Total deposits increased by $178.4 million, or 5.01% (20.05% when annualized), with wholesale deposits increasing by $130.0 million, or 23.21%, and non-wholesale deposits increasing by $48.4 million, or 1.61%. Short-term borrowings remained at zero as of March 31, 2025 and December 31, 2024. Net interest margin increased by nine basis points to 3.45% and our efficiency ratio increased to 42.58%, as compared to 41.21% for the fourth quarter of 2024, while cost of funds decreased nine basis points to 2.56%.

In the first quarter of 2025, we were pleased to declare another cash dividend of $0.20 per share. We were also pleased to have been ranked third among best-performing banks in the nation by S&P Global Market Intelligence (among banks with assets between $3 billion and $10 billion).

As we execute on the expansion of industry verticals and our presence in new geographies to meet customer demand, we expect the ongoing acceleration of our growth to benefit our customers, employees, and shareholders. We also expect our demonstrated ability to adapt to changing economic conditions to serve us well into the future as we remain vigilant and focused on disciplined business practices. We thank our employees for their outstanding commitment to ensuring Five Star Bank remains a safe, trusted, and steadfast banking partner.”

Financial highlights during the quarter included the following:

The San Francisco Bay Area team increased from 27 to 31 employees who generated deposit balances totaling $379.8 million at March 31, 2025, an increase of $87.4 million from December 31, 2024.
Cash and cash equivalents were $452.6 million, representing 12.11% of total deposits at March 31, 2025, as compared to 9.90% at December 31, 2024.
Total deposits increased by $178.4 million, or 5.01%, during the three months ended March 31, 2025, due to increases in both non-wholesale and wholesale deposits, which the Company defines as brokered deposits and California Time Deposit Program deposits. During the three months ended March 31, 2025, non-wholesale deposits increased by $48.4 million, or 1.61%, and wholesale deposits increased by $130.0 million, or 23.21%.
The Company had no short-term borrowings at March 31, 2025 or December 31, 2024.
Consistent, disciplined management of expenses contributed to our efficiency ratio of 42.58% for the three months ended March 31, 2025, as compared to 41.21% for the three months ended December 31, 2024.
For the three months ended March 31, 2025, net interest margin was 3.45%, as compared to 3.36% for the three months ended December 31, 2024 and 3.14% for the three months ended March 31, 2024. The effective Federal Funds rate was 4.33% as of March 31, 2025, remaining constant from December 31, 2024 and decreasing from 5.33% at March 31, 2024.
Other comprehensive income was $0.7 million during the three months ended March 31, 2025. Unrealized losses, net of tax effect, on available-for-sale securities were $11.6 million as of March 31, 2025. Total carrying value of held-to-maturity and available-for-sale securities represented 0.06% and 2.35% of total interest-earning assets, respectively, as of March 31, 2025.
The Company’s common equity Tier 1 capital ratio was 11.00% and 11.02% as of March 31, 2025 and December 31, 2024, respectively. The Bank continues to meet all requirements to be considered “well-capitalized” under applicable regulatory guidelines.
Loan and deposit growth in the three and twelve months ended March 31, 2025 was as follows:

(in thousands)	March 31, 2025		December 31, 2024		$ Change		% Change
Loans held for investment	$	3,621,819	$	3,532,686	$	89,133	2.52	%
Non-interest-bearing deposits		933,652		922,629		11,023	1.19	%
Interest-bearing deposits		2,802,702		2,635,365		167,337	6.35	%

(in thousands)	March 31, 2025		March 31, 2024		$ Change		% Change
Loans held for investment	$	3,621,819	$	3,104,130	$	517,689	16.68	%
Non-interest-bearing deposits		933,652		817,388		116,264	14.22	%
Interest-bearing deposits		2,802,702		2,138,384		664,318	31.07	%

The ratio of nonperforming loans to loans held for investment at period end remained at 0.05% from December 31, 2024 to March 31, 2025.
The Company’s Board of Directors declared on January 16, 2025, and the Company subsequently paid, a cash dividend of $0.20 per share during the three months ended March 31, 2025. The Company’s Board of Directors subsequently declared another cash dividend of $0.20 per share on April 17, 2025, which the Company expects to pay on May 12, 2025 to shareholders of record as of May 5, 2025.

Summary Results

Three months ended March 31, 2025, as compared to three months ended December 31, 2024

The Company’s net income was $13.1 million for the three months ended March 31, 2025, as compared to $13.3 million for the three months ended December 31, 2024. Net interest income increased by $0.5 million, primarily due to a decrease in interest expense due to lower average rates on deposits, partially offset by a decrease in interest income driven by lower balances and yields on interest-earning deposits in banks, as compared to the three months ended December 31, 2024. The provision for credit losses increased by $0.6 million, reflecting adjustments to expectations for credit losses based on economic trends and forecasts in the three months ended March 31, 2025 compared to the three months ended December 31, 2024. Non-interest income decreased by $0.3 million, primarily due to a reduction in income received on equity investments in venture-backed funds during the three months ended March 31, 2025, as compared to the three months ended December 31, 2024. Non-interest expense increased by $0.6 million, primarily related to an increase in salaries and employee benefits, partially offset by decreases in advertising, promotional, and other operating expenses during the three months ended March 31, 2025, as compared to the three months ended December 31, 2024.

Three months ended March 31, 2025, as compared to three months ended March 31, 2024

The Company’s net income was $13.1 million for the three months ended March 31, 2025, as compared to $10.6 million for the three months ended March 31, 2024. Net interest income increased by $7.2 million, primarily due to an increase in interest income driven by a higher balance of loans with higher yields, partially offset by an increase in interest expense due to larger average deposit balances, as compared to the three months ended March 31, 2024. The provision for credit losses increased by $1.0 million, relating to loan growth and adjustments to expectations for credit losses based on economic trends and forecasts during the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. Non-interest income decreased by $0.5 million, primarily due to a reduction in income received on equity investments in venture-backed funds during the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. Non-interest expense increased by $2.3 million during the three months ended March 31, 2025, as compared to the three months ended March 31, 2024, with an increase in salaries and employee benefits related to increased headcount as the leading driver.

The following is a summary of the components of the Company’s operating results and performance ratios for the periods indicated:

	Three months ended
(in thousands, except per share data)	March 31, 2025			December 31, 2024			$ Change			% Change
Selected operating data:
Net interest income	$	33,977		$	33,489		$	488		1.46	%
Provision for credit losses		1,900			1,300			600		46.15	%
Non-interest income		1,359			1,666			(307	)	(18.43	)%
Non-interest expense		15,045			14,488			557		3.84	%
Pre-tax income		18,391			19,367			(976	)	(5.04	)%
Provision for income taxes		5,280			6,050			(770	)	(12.73	)%
Net income	$	13,111		$	13,317		$	(206	)	(1.55	)%
Earnings per common share:
Basic	$	0.62		$	0.63		$	(0.01	)	(1.59	)%
Diluted	$	0.62		$	0.63		$	(0.01	)	(1.59	)%
Performance and other financial ratios:
ROAA		1.30	%		1.31	%
ROAE		13.28	%		13.48	%
Net interest margin		3.45	%		3.36	%
Cost of funds		2.56	%		2.65	%
Efficiency ratio		42.58	%		41.21	%

	Three months ended
(in thousands, except per share data)	March 31, 2025			March 31, 2024			$ Change			% Change
Selected operating data:
Net interest income	$	33,977		$	26,744		$	7,233		27.05	%
Provision for credit losses		1,900			900			1,000		111.11	%
Non-interest income		1,359			1,833			(474	)	(25.86	)%
Non-interest expense		15,045			12,716			2,329		18.32	%
Pre-tax income		18,391			14,961			3,430		22.93	%
Provision for income taxes		5,280			4,330			950		21.94	%
Net income	$	13,111		$	10,631		$	2,480		23.33	%
Earnings per common share:
Basic	$	0.62		$	0.62		$	—		—	%
Diluted	$	0.62		$	0.62		$	—		—	%
Performance and other financial ratios:
ROAA		1.30	%		1.22	%
ROAE		13.28	%		14.84	%
Net interest margin		3.45	%		3.14	%
Cost of funds		2.56	%		2.62	%
Efficiency ratio		42.58	%		44.50	%

Balance Sheet Summary

(in thousands)	March 31, 2025		December 31, 2024		$ Change			% Change
Selected financial condition data:
Total assets	$	4,245,057	$	4,053,278	$	191,779		4.73	%
Cash and cash equivalents		452,571		352,343		100,228		28.45	%
Total loans held for investment		3,621,819		3,532,686		89,133		2.52	%
Total investments		99,696		100,914		(1,218	)	(1.21	)%
Total liabilities		3,838,606		3,656,654		181,952		4.98	%
Total deposits		3,736,354		3,557,994		178,360		5.01	%
Subordinated notes, net		73,932		73,895		37		0.05	%
Total shareholders’ equity		406,451		396,624		9,827		2.48	%

Insured and collateralized deposits were approximately $2.5 billion, representing 67.55% of total deposits as of March 31, 2025, as compared to 66.92% as of December 31, 2024. Net uninsured and uncollateralized deposits were approximately $1.2 billion as of March 31, 2025, remaining constant from December 31, 2024.
Non-wholesale deposit accounts constituted 81.53% of total deposits as of March 31, 2025, as compared to 84.26% at December 31, 2024. Deposit relationships of greater than $5 million represented 60.87% of total deposits, as compared to 61.13% as of December 31, 2024, and had an average age of approximately 8.80 years as of March 31, 2025, as compared to 9.28 years as of December 31, 2024.
Cash and cash equivalents as of March 31, 2025 were $452.6 million, representing 12.11% of total deposits at March 31, 2025, as compared to 9.90% as of December 31, 2024.
Total liquidity (consisting of cash and cash equivalents and unused and immediately available borrowing capacity as set forth below) was approximately $2.0 billion as of March 31, 2025, as compared to $1.9 billion at December 31, 2024.

	March 31, 2025
(in thousands)	Line of Credit		Letters of Credit Issued		Borrowings		Available
Federal Home Loan Bank of San Francisco (“FHLB”) advances	$	1,276,072	$	731,500	$	—	$	544,572
Federal Reserve Discount Window		856,366		—		—		856,366
Correspondent bank lines of credit		175,000		—		—		175,000
Cash and cash equivalents		—		—		—		452,571
Total	$	2,307,438	$	731,500	$	—	$	2,028,509

The increase in total assets from December 31, 2024 to March 31, 2025 was primarily due to a $100.2 million increase in cash and cash equivalents and an $89.1 million increase in total loans held for investment. The $100.2 million increase in cash and cash equivalents primarily resulted from net cash inflows related to financing and operating activities of $174.1 million and $15.5 million, respectively, partially offset by net cash outflows related to investing activities of $89.3 million. The $89.1 million increase in total loans held for investment between December 31, 2024 and March 31, 2025 was a result of $259.3 million in loan originations and advances, partially offset by $65.6 million and $104.6 million in loan payoffs and paydowns, respectively. The $89.1 million increase in total loans held for investment included $19.8 million in purchases of loans within the consumer concentration of the loan portfolio.

The increase in total liabilities from December 31, 2024 to March 31, 2025 was primarily due to an increase in interest-bearing deposits of $167.3 million. The increase in interest-bearing deposits was largely due to increases in time and money market deposits of $131.2 million and $52.2 million, respectively.

The increase in total shareholders’ equity from December 31, 2024 to March 31, 2025 was primarily a result of net income recognized of $13.1 million and a $0.7 million increase in accumulated other comprehensive income, partially offset by $4.3 million in cash dividends paid during the period.

Net Interest Income and Net Interest Margin

The following is a summary of the components of net interest income for the periods indicated:

	Three months ended
(in thousands)	March 31, 2025			December 31, 2024			$ Change			% Change
Interest and fee income	$	57,087		$	57,745		$	(658	)	(1.14	)%
Interest expense		23,110			24,256			(1,146	)	(4.72	)%
Net interest income	$	33,977		$	33,489		$	488		1.46	%
Net interest margin		3.45	%		3.36	%

	Three months ended
(in thousands)	March 31, 2025			March 31, 2024			$ Change			% Change
Interest and fee income	$	57,087		$	47,541		$	9,546		20.08	%
Interest expense		23,110			20,797			2,313		11.12	%
Net interest income	$	33,977		$	26,744		$	7,233		27.05	%
Net interest margin		3.45	%		3.14	%

The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:

	Three months ended
	March 31, 2025						December 31, 2024						March 31, 2024
(in thousands)	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Assets
Interest-earning deposits in banks	$	328,571	$	3,575	4.41	%	$	363,828	$	4,335	4.74	%	$	233,002	$	3,102	5.35	%
Investment securities		100,474		581	2.34	%		103,930		607	2.33	%		109,177		653	2.41	%
Loans held for investment and sale		3,567,992		52,931	6.02	%		3,498,109		52,803	6.01	%		3,082,290		43,786	5.71	%
Total interest-earning assets		3,997,037		57,087	5.79	%		3,965,867		57,745	5.79	%		3,424,469		47,541	5.58	%
Interest receivable and other assets, net		93,543						91,736						93,983
Total assets	$	4,090,580					$	4,057,603					$	3,518,452

Liabilities and shareholders’ equity
Interest-bearing transaction accounts	$	303,822	$	1,112	1.48	%	$	298,518	$	1,249	1.66	%	$	300,325	$	1,126	1.51	%
Savings accounts		123,599		772	2.53	%		127,298		887	2.77	%		124,561		861	2.78	%
Money market accounts		1,540,879		12,435	3.27	%		1,596,116		13,520	3.37	%		1,410,264		12,155	3.47	%
Time accounts		706,528		7,629	4.38	%		617,596		7,438	4.79	%		429,586		5,369	5.03	%
Subordinated notes and other borrowings		73,908		1,162	6.37	%		73,872		1,162	6.25	%		82,775		1,286	6.25	%
Total interest-bearing liabilities		2,748,736		23,110	3.41	%		2,713,400		24,256	3.56	%		2,347,511		20,797	3.56	%
Demand accounts		910,954						921,881						842,105
Interest payable and other liabilities		30,389						29,234						40,730
Shareholders’ equity		400,501						393,088						288,106
Total liabilities & shareholders’ equity	$	4,090,580					$	4,057,603					$	3,518,452

Net interest spread					2.38	%					2.23	%					2.02	%
Net interest income/margin			$	33,977	3.45	%			$	33,489	3.36	%			$	26,744	3.14	%

Net interest income during the three months ended March 31, 2025 increased $0.5 million, or 1.46%, to $34.0 million compared to $33.5 million during the three months ended December 31, 2024. Net interest margin totaled 3.45% for the three months ended March 31, 2025, an increase of nine basis points compared to the prior quarter. The increase in net interest income is primarily attributable to a $1.1 million decrease in interest expense, driven by a 15 basis point decrease in the average rate on interest-bearing deposits compared to the prior quarter. The decrease in interest expense was partially offset by a $0.7 million decrease in interest income, primarily due to a $35.3 million, or 9.69%, decrease in the average balance of interest-earning deposits in banks, combined with a 33 basis point decrease in the average yield on interest-earning deposits in banks.

As compared to the three months ended March 31, 2024, net interest income increased $7.2 million, or 27.05%, to $34.0 million from $26.7 million. Net interest margin totaled 3.45% for the three months ended March 31, 2025, an increase of 31 basis points compared to the same quarter of the prior year. The increase in net interest income is primarily attributable to an additional $9.1 million in loan interest income due to a $485.7 million, or 15.76%, increase in the average balance of loans and a 31 basis point improvement in the average yield on loans during the three months ended March 31, 2025 compared to the same quarter of the prior year. The increase in interest income was partially offset by a $2.4 million increase in deposit interest expense compared to the same quarter of the prior year. The increase in deposit interest expense is primarily attributable to a $478.9 million, or 15.42%, increase in the average balance of deposits and a five basis point increase in the average cost of deposits during the three months ended March 31, 2025 compared to the same quarter of the prior year.

Loans by Type

The following table provides loan balances, excluding deferred loan fees, by type as of March 31, 2025:

(in thousands)
Real estate:
Commercial	$	2,941,201
Commercial land and development		3,556
Commercial construction		113,002
Residential construction		5,747
Residential		34,053
Farmland		43,643
Commercial:
Secured		170,525
Unsecured		34,970
Consumer and other		277,093
Net deferred loan fees		(1,971	)
Total loans held for investment	$	3,621,819

Interest-bearing Deposits

The following table provides interest-bearing deposit balances by type as of March 31, 2025:

(in thousands)
Interest-bearing transaction accounts	$	295,633
Money market accounts		1,577,473
Savings accounts		128,210
Time accounts		801,386
Total interest-bearing deposits	$	2,802,702

Asset Quality

Allowance for Credit Losses

At March 31, 2025, the Company’s allowance for credit losses was $39.2 million, as compared to $37.8 million at December 31, 2024. The $1.4 million increase in the allowance is due to a $2.2 million provision for credit losses recorded during the three months ended March 31, 2025, partially offset by net charge-offs mainly attributable to commercial and industrial loans of $0.7 million, during the same period.

The Company’s ratio of nonperforming loans to loans held for investment remained at 0.05% from December 31, 2024 to March 31, 2025. Loans designated as watch decreased from $123.4 million to $112.0 million between December 31, 2024 and March 31, 2025. Loans designated as substandard increased from $2.6 million to $3.7 million between December 31, 2024 and March 31, 2025. There were no loans with doubtful risk grades at March 31, 2025 or December 31, 2024.

A summary of the allowance for credit losses by loan class is as follows:

	March 31, 2025				December 31, 2024
(in thousands)	Amount		% of Total		Amount		% of Total
Real estate:
Commercial	$	27,027	68.91	%	$	25,864	68.44	%
Commercial land and development		70	0.18	%		78	0.21	%
Commercial construction		2,227	5.68	%		2,268	6.00	%
Residential construction		78	0.20	%		64	0.17	%
Residential		279	0.71	%		270	0.71	%
Farmland		598	1.52	%		607	1.61	%
		30,279	77.20	%		29,151	77.14	%
Commercial:
Secured		5,905	15.05	%		5,866	15.52	%
Unsecured		403	1.03	%		278	0.74	%
		6,308	16.08	%		6,144	16.26	%
Consumer and other		2,637	6.72	%		2,496	6.60	%
Total allowance for credit losses	$	39,224	100.00	%	$	37,791	100.00	%

The ratio of allowance for credit losses to loans held for investment was 1.08% at March 31, 2025, as compared to 1.07% at December 31, 2024.

Non-interest Income

The following table presents the key components of non-interest income for the periods indicated:

	Three months ended
(in thousands)	March 31, 2025		December 31, 2024		$ Change			% Change
Service charges on deposit accounts	$	215	$	179	$	36		20.11	%
Gain on sale of loans		125		150		(25	)	(16.67	)%
Loan-related fees		448		400		48		12.00	%
FHLB stock dividends		331		332		(1	)	(0.30	)%
Earnings on bank-owned life insurance		161		182		(21	)	(11.54	)%
Other income		79		423		(344	)	(81.32	)%
Total non-interest income	$	1,359	$	1,666	$	(307	)	(18.43	)%

Service charges on deposit accounts. The increase resulted primarily from individually immaterial increases in fees earned for services and products to support deposit accounts including, but not limited to, service charges, check order fees, and debit card income.

Gain on sale of loans. The decrease resulted from a decline in the volume and effective yield of loans sold. During the three months ended March 31, 2025, approximately $1.7 million of loans were sold with an effective yield of 7.24%, as compared to approximately $2.0 million of loans sold with an effective yield of 7.60% during the three months ended December 31, 2024.

Other income. The decrease resulted primarily from $0.3 million of income received on equity investments in venture-backed funds during the three months ended December 31, 2024 which did not reoccur during the three months ended March 31, 2025.

The following table presents the key components of non-interest income for the periods indicated:

	Three months ended
(in thousands)	March 31, 2025		March 31, 2024		$ Change			% Change
Service charges on deposit accounts	$	215	$	188	$	27		14.36	%
Gain on sale of loans		125		369		(244	)	(66.12	)%
Loan-related fees		448		429		19		4.43	%
FHLB stock dividends		331		332		(1	)	(0.30	)%
Earnings on bank-owned life insurance		161		142		19		13.38	%
Other income		79		373		(294	)	(78.82	)%
Total non-interest income	$	1,359	$	1,833	$	(474	)	(25.86	)%

Gain on sale of loans. The decrease related primarily to an overall decline in the volume of loans sold, partially offset by an improvement in the effective yield of loans sold. During the three months ended March 31, 2025, approximately $1.7 million of loans were sold with an effective yield of 7.24%, as compared to approximately $5.2 million of loans sold with an effective yield of 7.08% during the three months ended March 31, 2024.

Other income. The decrease related primarily to $0.3 million of income received on equity investments in venture-backed funds during the three months ended March 31, 2024, which did not reoccur during the three months ended March 31, 2025.

Non-interest Expense

The following table presents the key components of non-interest expense for the periods indicated:

	Three months ended
(in thousands)	March 31, 2025		December 31, 2024		$ Change			% Change
Salaries and employee benefits	$	9,134	$	8,360	$	774		9.26	%
Occupancy and equipment		637		649		(12	)	(1.85	)%
Data processing and software		1,457		1,369		88		6.43	%
Federal Deposit Insurance Corporation (“FDIC”) insurance		455		440		15		3.41	%
Professional services		913		774		139		17.96	%
Advertising and promotional		522		752		(230	)	(30.59	)%
Loan-related expenses		319		321		(2	)	(0.62	)%
Other operating expenses		1,608		1,823		(215	)	(11.79	)%
Total non-interest expense	$	15,045	$	14,488	$	557		3.84	%

Salaries and employee benefits. The increase related primarily to: (i) a $0.9 million increase in salaries, benefits, and bonus expense; and (ii) a $0.3 million decrease in loan origination costs due to fewer loan originations, net of purchased consumer loans. The increase was partially offset by a $0.5 million decrease in commissions expense due to fewer loan originations, net of purchased consumer loans, period-over-period.

Professional services. The increase was primarily due to $0.1 million in fees paid for compensation consulting services, which did not occur in the three months ended December 31, 2024.

Advertising and promotional. The decrease related primarily to a $0.1 million decrease in expenses related to sponsored events and partnerships and $0.1 million decrease related to business development expenses.

Other operating expenses. The decrease was primarily due to a $0.1 million decrease in director expenses, such as conferences and meetings, combined with individually immaterial decreases in expenses related to operations, including administrative and operational expenses.

The following table presents the key components of non-interest expense for the periods indicated:

	Three months ended
(in thousands)	March 31, 2025		March 31, 2024		$ Change		% Change
Salaries and employee benefits	$	9,134	$	7,577	$	1,557	20.55	%
Occupancy and equipment		637		626		11	1.76	%
Data processing and software		1,457		1,157		300	25.93	%
FDIC insurance		455		400		55	13.75	%
Professional services		913		707		206	29.14	%
Advertising and promotional		522		460		62	13.48	%
Loan-related expenses		319		297		22	7.41	%
Other operating expenses		1,608		1,492		116	7.77	%
Total non-interest expense	$	15,045	$	12,716	$	2,329	18.32	%

Salaries and employee benefits. The increase related primarily to: (i) a $1.6 million increase in salaries, benefits, and bonus expense, mainly related to a 13.19% increase in headcount between March 31, 2024 and March 31, 2025; and (ii) a $0.1 million increase in commissions paid. This increase was partially offset by a $0.2 million increase in loan origination costs due to a greater number of loan originations, net of purchased consumer loans, period-over-period.

Data processing and software. The increase was primarily due to: (i) increased usage of our digital banking platform; (ii) higher transaction volumes related to the increased number of loan and deposit accounts; and (iii) an increased number of licenses required for new users on our loan origination and documentation system.

Professional services. The increase was primarily due to $0.1 million in fees paid for compensation consulting services and $0.1 million in consulting services relating to operations in San Francisco, neither of which occurred in the three months ended March 31, 2024.

Other operating expenses. The increase was primarily due to individually immaterial increases in expenses related to operations, including administrative and operational expenses such as travel, subscriptions, and professional association memberships.

Provision for Income Taxes

Three months ended March 31, 2025, as compared to three months ended December 31, 2024

Provision for income taxes decreased to $5.3 million for the three months ended March 31, 2025 from $6.1 million for the three months ended December 31, 2024, which was primarily due to: (i) a slight decline in taxable income recognized during the three months ended March 31, 2025; and (ii) a $0.6 million provision to return true-up recorded during the three months ended December 31, 2024 related primarily to the timing of recognition of low income housing tax credits, which did not reoccur during the three months ended March 31, 2025. The effective tax rates were 28.71% and 31.24% for the three months ended March 31, 2025 and December 31, 2024, respectively.

Three months ended March 31, 2025, as compared to three months ended March 31, 2024

Provision for income taxes increased by $1.0 million, or 21.94%, for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. This increase was primarily driven by an increase in taxable income. The effective tax rates were 28.71% and 28.94% for the three months ended March 31, 2025 and March 31, 2024, respectively.

Webcast Details

Five Star Bancorp will host a live webcast for analysts and investors on Tuesday, April 29, 2025 at 1:00 PM ET (10:00 AM PT) to discuss its first quarter financial results. To view the live webcast, visit the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events. The webcast will be archived on the Company’s website for a period of 90 days.

About Five Star Bancorp

Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has eight branches in Northern California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan,” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 under the section entitled “Risk Factors,” and other documents filed by the Company with the Securities and Exchange Commission from time to time.

The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.

Condensed Financial Data (Unaudited)

	Three months ended
(in thousands, except per share and share data)	March 31, 2025			December 31, 2024			March 31, 2024
Revenue and Expense Data
Interest and fee income	$	57,087		$	57,745		$	47,541
Interest expense		23,110			24,256			20,797
Net interest income		33,977			33,489			26,744
Provision for credit losses		1,900			1,300			900
Net interest income after provision		32,077			32,189			25,844
Non-interest income:
Service charges on deposit accounts		215			179			188
Gain on sale of loans		125			150			369
Loan-related fees		448			400			429
FHLB stock dividends		331			332			332
Earnings on bank-owned life insurance		161			182			142
Other income		79			423			373
Total non-interest income		1,359			1,666			1,833
Non-interest expense:
Salaries and employee benefits		9,134			8,360			7,577
Occupancy and equipment		637			649			626
Data processing and software		1,457			1,369			1,157
FDIC insurance		455			440			400
Professional services		913			774			707
Advertising and promotional		522			752			460
Loan-related expenses		319			321			297
Other operating expenses		1,608			1,823			1,492
Total non-interest expense		15,045			14,488			12,716
Income before provision for income taxes		18,391			19,367			14,961
Provision for income taxes		5,280			6,050			4,330
Net income	$	13,111		$	13,317		$	10,631

Comprehensive Income
Net income	$	13,111		$	13,317		$	10,631
Net unrealized holding gain (loss) on securities available-for-sale during the period		1,030			(3,747	)		(955	)
Less: Income tax expense (benefit) related to other comprehensive income (loss)		305			(1,108	)		(282	)
Other comprehensive income (loss)		725			(2,639	)		(673	)
Total comprehensive income	$	13,836		$	10,678		$	9,958

Share and Per Share Data
Earnings per common share:
Basic	$	0.62		$	0.63		$	0.62
Diluted		0.62			0.63			0.62
Book value per share		19.06			18.60			16.86
Tangible book value per share⁽¹⁾		19.06			18.60			16.86
Weighted average basic common shares outstanding		21,209,881			21,182,143			17,190,867
Weighted average diluted common shares outstanding		21,253,588			21,235,318			17,272,994
Shares outstanding at end of period		21,329,235			21,319,083			17,353,251

Selected Financial Ratios
ROAA		1.30	%		1.31	%		1.22	%
ROAE		13.28	%		13.48	%		14.84	%
Net interest margin		3.45	%		3.36	%		3.14	%
Loan to deposit⁽²⁾		97.01	%		99.38	%		105.37	%

_{⁽¹⁾ See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.
⁽²⁾ Loan balance in loan to deposit ratio is total loans held for investment and sale at period end. Deposit balance in loan to deposit ratio is total deposits at period end.}

(in thousands)	March 31, 2025			December 31, 2024			March 31, 2024
Balance Sheet Data
Cash and due from financial institutions	$	42,473		$	33,882		$	29,750
Interest-bearing deposits in banks		410,098			318,461			155,575
Time deposits in banks		4,024			4,121			5,878
Securities – available-for-sale, at fair value		97,111			98,194			105,006
Securities – held-to-maturity, at amortized cost		2,585			2,720			3,000
Loans held for sale		2,669			3,247			10,243
Loans held for investment		3,621,819			3,532,686			3,104,130
Allowance for credit losses		(39,224	)		(37,791	)		(34,653	)
Loans held for investment, net of allowance for credit losses		3,582,595			3,494,895			3,069,477
FHLB stock		15,000			15,000			15,000
Operating leases, right-of-use asset		5,944			6,245			6,932
Premises and equipment, net		1,524			1,584			1,569
Bank-owned life insurance		23,246			19,375			18,872
Interest receivable and other assets		57,788			55,554			55,058
Total assets	$	4,245,057		$	4,053,278		$	3,476,360

Non-interest-bearing deposits	$	933,652		$	922,629		$	817,388
Interest-bearing deposits		2,802,702			2,635,365			2,138,384
Total deposits		3,736,354			3,557,994			2,955,772
Subordinated notes, net		73,932			73,895			73,786
Other borrowings		—			—			120,000
Operating lease liability		6,591			6,857			7,320
Interest payable and other liabilities		21,729			17,908			26,902
Total liabilities		3,838,606			3,656,654			3,183,780

Common stock		302,788			302,531			220,804
Retained earnings		115,309			106,464			84,216
Accumulated other comprehensive loss, net of taxes		(11,646	)		(12,371	)		(12,440	)
Total shareholders’ equity		406,451			396,624			292,580
Total liabilities and shareholders’ equity	$	4,245,057		$	4,053,278		$	3,476,360

Quarterly Average Balance Data
Average loans held for investment and sale	$	3,567,992		$	3,498,109		$	3,082,290
Average interest-earning assets		3,997,037			3,965,867			3,424,469
Average total assets		4,090,580			4,057,603			3,518,452
Average deposits		3,585,782			3,561,409			3,106,841
Average total equity		400,501			393,088			288,106

Credit Quality
Allowance for credit losses to nonperforming loans		2,222.32	%		2,101.78	%		1,806.73	%
Nonperforming loans to loans held for investment		0.05	%		0.05	%		0.06	%
Nonperforming assets to total assets		0.04	%		0.05	%		0.06	%
Nonperforming loans plus performing loan modifications to loans held for investment		0.05	%		0.05	%		0.06	%

Capital Ratios
Total shareholders’ equity to total assets		9.57	%		9.79	%		8.42	%
Tangible shareholders’ equity to tangible assets⁽¹⁾		9.57	%		9.79	%		8.42	%
Total capital (to risk-weighted assets)		13.97	%		13.99	%		12.34	%
Tier 1 capital (to risk-weighted assets)		11.00	%		11.02	%		9.13	%
Common equity Tier 1 capital (to risk-weighted assets)		11.00	%		11.02	%		9.13	%
Tier 1 leverage ratio		10.17	%		10.05	%		8.63	%

_{⁽¹⁾ See the section entitled “Non-GAAP Reconciliation (Unaudited)” for a reconciliation of this non-GAAP financial measure.}

Non-GAAP Reconciliation (Unaudited)

The Company uses financial information in its analysis of the Company’s performance that is not in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company believes that these non-GAAP financial measures provide useful information to management and investors that is supplementary to the Company’s financial condition, results of operations, and cash flows computed in accordance with GAAP. However, the Company acknowledges that its non-GAAP financial measures have a number of limitations. As such, investors should not view these disclosures as a substitute for results determined in accordance with GAAP. Additionally, these non-GAAP measures are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons.

Tangible shareholders’ equity to tangible assets is defined as total equity less goodwill and other intangible assets, divided by total assets less goodwill and other intangible assets. The most directly comparable GAAP financial measure is total shareholders’ equity to total assets. Management believes that tangible shareholders’ equity to tangible assets is a useful financial measure because it enables management, investors, and others to assess the Company’s financial health based on tangible capital. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible shareholders’ equity to tangible assets is the same as total shareholders’ equity to total assets at the end of each of the periods indicated.

Tangible book value per share is defined as total shareholders’ equity less goodwill and other intangible assets, divided by the outstanding number of common shares at the end of the period. The most directly comparable GAAP financial measure is book value per share. Management believes that tangible book value per share is a useful financial measure because it enables management, investors, and others to assess the Company’s value and use of equity. We had no goodwill or other intangible assets at the end of any period indicated. As a result, tangible book value per share is the same as book value per share at the end of each of the periods indicated.

Pre-tax, pre-provision income is defined as pre-tax income plus provision for credit losses. The most directly comparable GAAP financial measure is pre-tax income. Management believes that pre-tax, pre-provision income is a useful financial measure because it enables management, investors, and others to assess the Company’s ability to generate operating profit and capital.

The following reconciliation table provides a more detailed analysis of this non-GAAP financial measure:

	Three months ended
(in thousands)	March 31, 2025		December 31, 2024		March 31, 2024
Pre-tax, pre-provision income
Pre-tax income	$	18,391	$	19,367	$	14,961
Add: provision for credit losses		1,900		1,300		900
Pre-tax, pre-provision income	$	20,291	$	20,667	$	15,861

Investor Contact:
Heather C. Luck, Chief Financial Officer
Five Star Bancorp
(916) 626-5008
hluck@fivestarbank.com

Media Contact:
Shelley R. Wetton, Chief Marketing Officer
Five Star Bancorp
(916) 284-7827
swetton@fivestarbank.com

The MIL Network –

April 29, 2025

MIL-OSI USA: Rep. John James’ Legislation to Repatriate and Fortify U.S. Supply Chains Passes House
Source: United States House of Representatives – Congressman John James (Michigan 10th District)

WASHINGTON, D.C. – Today, the House of Representatives passed Congressman John James’ (MI-10) Promoting Resilient Supply Chains Act. The bill is aimed at bolstering American supply chains, creating good-paying manufacturing jobs, and reducing costs for consumers across the nation.

The Promoting Resilient Supply Chains Act (H.R. 2444) establishes a comprehensive approach to monitoring and proactively strengthening U.S. supply chains. By leveraging cutting-edge technologies such as artificial intelligence and quantum computing, the legislation ensures the Department of Commerce is properly anticipating and mitigating potential supply chain shocks — ranging from natural disasters to geopolitical conflicts — before they impact American families and businesses.

“As a former automotive supply-chain executive representing the #1 manufacturing district in the nation, I know firsthand that our dependence on adversarial foreign supply-chains is a problem we can no longer ignore,” said Congressman James. “This legislation is about bringing jobs back home, lowering costs for hardworking families, and ensuring our national security. It’s time to secure our own future by putting America First. I’m thrilled that this bill—which fully reinforces President Trump’s vision for secure supply chains—passed the House. I look forward to the bill moving to his desk and being signed into law.”

Key provisions of the legislation include:
- Creating a Supply Chain Resiliency Program within the Department of Commerce to identify and address gaps in critical industries and emerging technologies.
- Establishing an Early Warning System to predict and prevent disruptions using advanced technology.
- Fostering Public-Private Collaboration to develop best practices and enhance supply chain security, with input from labor, industry, and government stakeholders.
- Reducing Dependence on Adversarial Nations by incentivizing domestic manufacturing and diversifying supply sources.
The bill comes at a critical time, as recent years have highlighted the risks of over-reliance on foreign supply chains, particularly those of the Chinese Communist Party. By prioritizing American ingenuity and workforce development, the Promoting Resilient Supply Chains Act aims to safeguard economic stability and protect national interests for generations to come.

Rep. James was joined by his colleagues Reps. Debbie Dingell, Erin Houchin, Pat Ryan and Robin Kelly in introducing the legislation.

To view Rep. James speaking on the House Floor in favor of H.R. 2444, click here.

To view the bill text, click here.

###

MIL OSI USA News –
April 29, 2025
MIL-OSI USA: Rep. Burlison Announces Hearing on Revitalizing American Manufacturing, Protecting Critical Supply Chains
Source: United States House of Representatives – Representative Eric Burlison (R-Missouri 7th District)

WASHINGTON—Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs Chairman Eric Burlison (R-Mo.) announced a hearing today titled “Made in the USA: Igniting the Industrial Renaissance of the United States.” The subcommittee hearing will examine how cheap labor abroad, combined with overregulation and obstacles to permitting in the United States, contributed to the offshoring of American manufacturing and an over-reliance on China to fulfill manufacturing needs. To ensure our national security and safeguard supply chains, the subcommittee will discuss the importance of bringing manufacturing back to the United States and analyze economic opportunities it promises to benefit all Americans and spur innovation in the U.S. manufacturing industry.

“For decades, America’s manufacturing industry has been gutted—sold off piece by piece to bidders overseas. The federal government has allowed cheap foreign labor, red tape, and a broken permitting system to hollow out America’s industrial might, handing over critical supply chains to the Chinese Communist Party. Alongside President Trump, Congress is now taking action toward restoring the United States’ industrial strength and economic independence. Washington is waking up and realizing it’s time to bring American jobs, innovation, and production back home. I look forward to shining a light on the root causes of this manufacturing decline and exploring meaningful solutions that ensure our supply chains are strong, our workforce is empowered, and our future is built right here in the United States,” said Subcommittee Chairman Burlison.

WHAT: Hearing titled “Made in the USA: Igniting the Industrial Renaissance of the United States.”

DATE: Tuesday, April 29, 2025

TIME: 11:00 a.m. ET

LOCATION: HVC-210

WITNESSES:
- Kevin Czinger
  Founder and Executive Chairman
  Divergent 3D
- Chris Power
  Founder and Chief Executive Officer
  Hadrian
- Austin Bishop
  Chief Executive Officer
  New American Industrial Alliance
The hearing will be open to the public and press and will be streamed online at https://oversight.house.gov/.

MIL OSI USA News –
April 29, 2025
MIL-OSI USA: Prepare for Severe Weather Tuesday
Source: US State of New York

overnor Kathy Hochul cautioned New Yorkers in portions of Western and Central New York to prepare for severe weather that includes an enhanced risk of severe thunderstorms expected to arrive Tuesday afternoon. Storms with strong winds are predicted along with a possible, isolated tornado for parts of Western New York, Southern Tier, North Country, Finger Lakes into Central New York. Wind gusts could exceed 70 MPH in these locations at times. There is also a possibility for hail up to one inch in diameter within thunderstorms, especially for western parts of the state. Rainfall is expected to be less than a half inch in most areas, but some isolated areas could see up to an inch of rain. There is also a marginal to slight risk for severe thunderstorms for much of the North Country, as well as portions of the Mohawk Valley, Capital Region, and Hudson Valley. Governor Hochul urged New Yorkers to closely monitor the weather and take any precautions necessary to stay safe through the storms.

“As storm season approaches and severe weather makes its way to Western and Central New York, I am directing state agencies to be prepared to assist New Yorkers impacted by these storms,” Governor Hochul said. “My highest priority is the safety of New Yorkers, and I implore all those in the path of inclement storms to monitor weather conditions and take necessary precautions to stay safe.”

For a complete listing of weather watches, warnings, advisories, and latest forecasts, visit the National Weather Service website.

Division of Homeland Security and Emergency Services
The Division’s Office of Emergency Management is in contact with their local counterparts and is prepared to facilitate requests for assistance. State stockpiles are staffed and ready to deploy emergency response assets and supplies as needed. The State Watch Center is monitoring the storm track and statewide impacts closely.

Department of Transportation
The State Department of Transportation is monitoring weather conditions and prepared to respond with 3,730 supervisors and operators available statewide. All field staff are available to fully engage and respond.

Statewide equipment numbers are as follows:
- 1,528 large dump trucks
- 334 large loaders
- 91 chippers
- 90 tracked and wheeled excavators
- 33 water pumps
- 31 traffic and tree crew bucket trucks
- 29 traffic tower platforms
- 16 vacuum trucks with sewer jets
The need for additional resources will be re-evaluated as conditions warrant throughout the event. For real-time travel information, motorists should call 511 or visit 511ny.org, New York State’s official traffic and travel information source.

Thruway Authority
The Thruway Authority has 660 operators and supervisors prepared to respond to any wind or flood related issues across the state with small to medium sized excavators, plow/dump trucks, large loaders, portable VMS boards, portable light towers, smaller generators, smaller pumps and equipment hauling trailers, as well as signage and other traffic control devices available for any detours or closures. Variable Message Signs and social media are utilized to alert motorists of weather conditions on the Thruway.

Statewide equipment numbers are as follows:
- 354 Large and Small Dump Trucks
- 66 Loaders
- 31 Trailers
- 6 Vac Trucks
- 15 Excavators
- 8 Brush Chippers
- 99 Chainsaws
- 20 Aerial Trucks
- 26 Skid Steers
- 86 Portable Generators
- 67 Portable Light Units
The Thruway Authority encourages motorists to download the mobile app, which is available to download for free on iPhone and Android devices. The app provides motorists direct access to live traffic cameras, real-time traffic information and navigation assistance while on the go. Motorists can also sign up for TRANSalert e-mails which provide the latest traffic conditions along the Thruway, follow @ThruwayTraffic on X, and visit thruway.ny.gov to see an interactive map showing traffic conditions for the Thruway and other New York State roadways.

Department of Public Service
New York’s utilities have approximately 5,500 workers available statewide to engage in damage assessment, response, repair and restoration efforts across New York State, as necessary. Agency staff will track utilities’ work throughout the event and ensure utilities shift appropriate staffing to regions that experience the greatest impact.

New York State Police
State Police instructed all Troopers to remain vigilant and will deploy extra patrols to affected areas as needed. All four-wheel drive vehicles are in service, and all specialty vehicles are staged and ready for deployment.

Department of Environmental Conservation
The Department of Environmental Conservation’s (DEC) Emergency Management staff, Environmental Conservation Police Officers, Forest Rangers, and regional staff remain on alert and continue to monitor weather forecasts. Working with partner agencies, DEC is prepared to coordinate resource deployment of all available assets, including first responders, to targeted areas in preparation for potential impacts due to heavy rainfall and flooding.

DEC reminds local officials to watch for potential flooding in their communities. Municipalities are encouraged to undertake local assessments of flood-prone areas and to remove any accumulating debris. DEC permits and authorization are not required to remove debris unless stream banks or beds will be disturbed by debris removal and/or the use of heavy equipment. Municipalities and local governments are advised to contact DEC’s Regional Permit Administrators if assistance is required and to help determine if a permit is necessary.

If a permit is necessary, DEC can issue Emergency Authorizations to expedite approval of projects in place of an individual permit. DEC approves Emergency Authorizations for situations that are deemed an emergency based on the immediate protection of life, health, general welfare, property, or natural resources.

Unpredictable weather and storms in the Adirondacks, Catskills, and other backcountry areas can create unexpectedly hazardous conditions. Visitors should be prepared with proper clothing and equipment for rain, snow, ice, and colder temperatures to ensure a safe outdoor experience. Trails have mixed conditions of snow, ice, slush, and mud.

Hikers are advised to temporarily avoid all high-elevation trails, as well as trails that cross rivers and streams. Hikers in the Adirondacks are encouraged to check the Adirondack Backcountry Information webpages for updates on trail conditions, seasonal road closures, and general recreation information.

Backcountry visitors should Hike Smart and follow proper safety guidelines. Plan trips accordingly. In an emergency, call 9-1-1. To request Forest Ranger assistance, call 1-833-NYS-RANGERS.

Office of Parks, Recreation, and Historic Preservation
New York State Park Police and park personnel are on alert and closely monitoring weather conditions and impacts. Park visitors should visit parks.ny.gov, check the free mobile app, or call their local park office for the latest updates regarding park hours, openings and closings.

Thunderstorm Safety Tips

Thunderstorms are dangerous storms that can produce 50+ mph winds, lightning, hail and cause flash flooding and tornadoes. If you can hear thunder, you are close enough to the storm to be struck by lightning. Go to a safe shelter immediately.
- Move to a sturdy building. Do not take shelter in small sheds, under isolated trees, or in convertible automobiles.
- If lightning occurs and sturdy shelter is not available, get inside a hard top automobile and keep windows up.
- Get out of boats and away from water.
- Telephone lines and metal pipes can conduct electricity. Unplug appliances not necessary for obtaining weather information. Avoid using the telephone or any electrical appliances.
- Do not take a bath or shower.
- Turn off air conditioners — power surges from lightning can overload compressors.
- Get to higher ground if flash flooding or flooding is possible.
- Do not attempt to drive to safety — most flash flooding deaths occur in automobiles.
- If outdoors, find a low spot away from trees, fences, and poles.
- If you are in the woods, take shelter under short trees.
- If you feel your skin tingle or your hair stands on end, squat low to the ground on the balls of your feet; place your hands on your knees with your head between them; make yourself the smallest target possible; and minimize your contact with the ground.
Tornado Safety Tips
- If outdoors: Seek shelter in a substantial building immediately. If there is no shelter nearby, lie flat in a ditch or low spot with your hands shielding your head.
- Do not try to outrun a tornado in your car; instead, leave it immediately.
- If at home or in a small building: Go to the basement or an interior room on the lowest floor of the building. Stay away from windows. Closets, bathrooms, and other interior rooms offer the best protection. Get under something sturdy or cover yourself with a mattress.
- If in a school, hospital, or shopping center: Go to a pre-designated shelter area. Stay away from large open areas and windows. Do not go outside to your car.
- If in a high-rise building: Go to an interior small room or hallway on the lowest floor possible. Do not use the elevators. Use the stairs.
- If in a mobile home or vehicle: Get out of mobile homes or vehicles – they are easily tossed about by strong winds in the tornado.
- Take shelter in a substantial structure: If there is no shelter near-by, lie flat in a ditch or low spot with your hands shielding your head.
Flood Safety
- During flash flooding, never attempt to drive on a flooded road. Turn around and go another way. If water begins to rise rapidly around you in your car, abandon the vehicle immediately.
- Do not underestimate the power of fast-moving water. Two feet of fast-moving flood water will float your car, and water moving at two miles per hour can sweep cars off a road or bridge.
MIL OSI USA News –
April 29, 2025
MIL-OSI Security: U.S. Attorney Ed Martin Jr. Credits President Trump’s First 100 Days with 25% Drop in D.C. Violent Crime
Source: Office of United States Attorneys

35 Charged Under ‘Make D.C. Safe Again’ Initiative
WASHINGTON – The U.S. Attorney for the District of Columbia is marking President Donald J. Trump’s first 100 days by highlighting a 25 percent drop year-to-date in violent crime across the District, credited in part to the “Make D.C. Safe Again” initiative and the U.S. Attorney’s partnership with the Bureau of Alcohol, Tobacco, Firearms and Explosives and Metropolitan Police Department.

“Thanks to the leadership of President Trump and the efforts of our ‘Make D.C. Safe Again’ initiative, the District has seen a significant decline in violent crime,” said U.S. Attorney Edward R. Martin Jr.

“We are proving that strong enforcement and smart policies can make our communities safer,” he said.

“When President Trump chose me to be the U.S. Attorney for the District of Columbia, he could have picked anybody, but he picked me, because he knew I am committed to preparing the nation’s capital for America 250, when we welcome the rest of the country and the rest of the world to celebrate America’s founding,” Martin said.

Martin is also a member of the president’s “Making DC Safe and Beautiful” Task Force.

“Violent crime often negatively impacts an entire community, and the victims are often left to pick up the broken pieces. It is our job to ensure that there are far fewer victims, and more people are held accountable for the crimes they commit,” said ATF Washington Field Division Special Agent in Charge Anthony Spotswood.

“The safety of our communities is our number one priority, and our actions will continue to reflect just how committed we are. We remain in lockstep with our law enforcement partners as well as the United States Attorney’s Office to ensure that people who arbitrarily engage in acts of violence are prosecuted and held accountable for their actions.”

According to data provided by the Metropolitan Police Department, total violent crime has declined by 25 percent year-to-date in 2025, with significant decreases in robberies, assaults with a dangerous weapon, and homicides.

In March of 2025, U.S. Attorney Edward R. Martin Jr. launched ‘Make D.C. Safe Again’, a law enforcement initiative in support of President Trump’s Executive Order to Make D.C. Safe and Beautiful. Make D.C. Safe Again aims to crack down on gun violence, prioritize federal firearms violations, pursue tougher penalties for offenses, and seek detention for federal firearms violators.

The U.S. Attorney’s Office has brought federal firearms charges against 35 defendants since the launch of the ‘Make D.C. Safe Again’ initiative.

Recent cases include:
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
MIL Security OSI –
April 29, 2025
MIL-OSI USA: Heinrich, Luján Introduce Legislation to Build More Homes for New Mexicans, Reduce Homelessness
US Senate News:
Source: United States Senator Ben Ray Luján (D-New Mexico)

WASHINGTON — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.) introduced the Housing for All Act, legislation to address the housing shortage and homelessness crises in New Mexico. If passed, the bill will invest in proven solutions to address housing shortages and provide a historic level of federal funding for programs to bolster innovative, locally developed solutions to increase the housing stock in the state and help New Mexicans experiencing homelessness.

As the Trump Administration undermines and defunds critical housing services across the country — including illegal staff cuts at the Department of Housing and Urban Development (HUD) and potential closures of nearly two-thirds of HUD field offices nationwide — investments to boost the affordable housing stock and reduce homelessness are essential.

“Housing costs in New Mexico and across the country are out of control. The solution is simple: we need to build and renovate more homes. And we need to provide our community leaders with the financial support necessary to carry out this important work,” said Heinrich. “While Donald Trump and Elon Musk’s “DOGE” boys gut housing services that help New Mexicans keep a roof over their head, I’m focused on boosting essential programs that increase the housing stock, lower costs, and help hardworking families get ahead.”

“In New Mexico and across the country, far too many Americans lack access to affordable housing options and are experiencing homelessness,” said Luján. “As housing programs and services face ongoing attacks and funding cuts, the need to expand affordable housing options has never been greater. That’s why I’m proud to introduce this legislation to address housing shortages and help end homelessness in New Mexico.”

Across New Mexico, there is a shortage of rental homes affordable and available to households whose incomes are at or below the poverty line or 30% of their area median income. And, according to a January 2024 survey conducted by the New Mexico Coalition to End Homelessness, 4,649 people experienced homelessness in New Mexico on a night in January. Furthermore, half of New Mexico’s lower-income renters spend more than 30% of their income on housing costs, including utilities.

Heinrich and Luján’s Housing for All Act takes an all-hands-on-deck approach to combat these crises, including historic investments from the federal government in housing solutions.

Addressing the Affordable Housing Shortage

The Housing for All Act addresses the affordable housing shortage by investing in federal housing programs, including:
- The National Housing Trust Fund
  
  This program increases and preserves the supply of affordable housing.
- The HOME Investment Partnerships Program
  
  The HOME program provides grants to state and local governments to build affordable housing for low-income households.
- The Section 202 Supportive Housing for the Elderly Program
  
  The Section 202 program helps expand the supply of affordable housing by supporting nonprofit entities that build housing for low-income seniors.
- The Section 811 Supportive Housing for People with Disabilities Program
  
  The Section 811 program helps build and subsidize rental housing with supportive services for low-income adults with disabilities.
Addressing the Homelessness Crisis

The Housing for All Act addresses the homelessness crisis by investing in:
- Housing Choice Vouchers
  
  These vouchers help low-income families, elderly persons, veterans and disabled individuals afford housing in the private market.
- Project-Based Rental Assistance
  
  This type of rental assistance allows tenants to live in an affordable unit and pay rent based upon their income.
- The Emergency Solutions Grant Program
  
  This program connects families and individuals to rapid re-housing assistance, emergency shelter, and homelessness prevention.
- Continuum of Care Program
  
  This program provides funding for efforts to end homelessness and promotes access to programs that can help homeless individuals and families.
Supporting Innovative and Locally Developed Approaches

The Housing for All Act supports innovative and locally developed approaches by investing in:
- Hotel and motel conversions to permanent supportive housing with supportive services.
- The Eviction Protection Grant Program to support experienced legal service providers in providing legal assistance to low-income tenants at risk of or subject to eviction.
- Mobile crisis intervention teams to help those with medical or psychological needs get the care that they need.
- Programs that offer a safe place to park overnight and facilitate access to rehousing and essential services.
- Library programs that support people experiencing homelessness.
- Inclusive transit-oriented housing development.
- Improved coordination of culturally competent, trauma-informed behavioral health and homelessness services.
A one-page summary of the bill is here.

A section-by-section summary of the bill is here.

The text of the bill is here.

For a list of Heinrich’s actions to lower housing costs and tackle the housing shortage in New Mexico, click here.

For a list of Luján’s actions to lower housing costs and tackle the housing shortage in New Mexico, click here.
MIL OSI USA News –
April 29, 2025
MIL-OSI USA: Nadler, Smith, Himes Introduce West Bank Violence Prevention Act in Response to Ben-Gvir Visit

Source: United States House of Representatives – Congressman Jerrold Nadler (10th District of New York)

WASHINGTON, DC – Today, U.S. Rep. Jerrold Nadler (NY-12), Rep. Adam Smith (WA-09), and Rep. Jim Himes (CT-04), introduced the West Bank Violence Prevention Act in response to Leader of the Jewish Power Party and Israeli Minister of National Security Itamar Ben-Gvir’s visit to the United States.

The West Bank Violence Prevention Act codifies and enshrines into law the Biden Administration’s Executive Order 14115, which sought to prevent acts of violence in the West Bank and to punish those who commit such acts. The legislation, like the Executive Order, applies to those committing acts of violence in the West Bank, regardless of their nationality. During the Biden Administration, determinations under the Executive Order were made regarding both Palestinian and Israeli organizations and individuals.

President Trump repealed EO 14115 on his first day of his term, January 20, 2025. As a result, violent extremist organizations like the Palestinian group Lions’ Den and the Israeli settler group Hilltop Youth are no longer designated under the Specially Designated Nationals and Blocked Persons List (SDN List). With their assets no longer frozen, these groups continue wreaking terror in the West Bank unencumbered.

According to the Washington Institute for Near East Policy, settler violence increased by an estimated 30 percent over the first few months of 2025 compared to the same period in 2024. Such violence has reached a fever pitch, causing the West Bank to become “a tinderbox,” one match away from igniting into catastrophe.

The members joined together to introduce this legislation as Itamar Ben-Gvir completes his visit to the United States. Ben-Gvir has referred to the Hilltop Youth as “sweet kids,” has reportedly also used his authority as Minister of Internal Security to direct Israel’s police to shield perpetrators of settler violence, including giving them “a secret sense of backing” from the Israeli police. The Act serves to send a message: Ben-Gvir’s incitement is not welcome in our communities and in the United States.

“Itamar Ben-Gvir serves as inciter-in-chief of settler violence in the West Bank,” said Rep. Nadler. “In August of 2024, violent settlers chanting ‘we are Ben-Gvir’s gang’ burned down the home of a Palestinian family in the West Bank town of Jit. Ben-Gvir also downplayed concern expressed by Israeli security officials at a cabinet meeting regarding a wave of deadly settler violence in 2023, including the death of a 19-year-old Palestinian in Huwara, calling the attacks simply ‘graffiti.’ The head of Israel’s internal security service wrote to Prime Minister Netanyahu in August of 2024 that Ben-Gvir’s actions are doing ‘indescribable damage,’ and are ‘a massive stain on Judaism and us all.’ Let’s be crystal clear about who Itamar Ben-Gvir is: a racist, terrorist, Jewish supremacist. This past week Ben-Gvir brought his unique brand of hate across the ocean to American campuses, meetings with American Jews, and with at least one Republican Member of Congress. I am proud to be leading my colleagues in meetings Ben-Gvir’s arrival with the West Bank Violence Prevention Act, which will build on the progress made by the Biden Administration, and make clear that the United States Congress will not stand for Ben-Gvir’s incitement, and the settler violence in the West Bank that he champions. This bill would also prevent violence by all perpetrators, settler and Palestinian alike. I hope my colleagues will join us in using the tools at our disposal to enshrine President Biden’s landmark Executive Order on violence in the West Bank into law.”

“Violence in the West Bank threatens peace and stability in the region, and any entity committing this violence, from extremist Israeli settlers to the Palestinian terrorist group Lions’ Den, must be sanctioned,” said Rep. Smith. “Israel’s encouragement of settler organizations in the West Bank has exacerbated tensions in the region, as Prime Minister Netanyahu, Finance Minister Smotrich, and National Security Minister Ben-Gvir have promoted Israeli settler expansion and tacitly enabled settler violence. Further violence from any Israeli or Palestinian hostile actors must be discouraged to prevent further threats to the peace, security, and stability of the West Bank, Gaza, Israel, and the broader Middle East.”

“The ongoing violence in the West Bank, from both Israeli settlers and Palestinian terrorist groups, is devastating for residents in the short-term and detrimental to long-term stability in the territory,” said Rep. Himes. “The Biden Administration’s Executive Order took an important step towards deterring extremism in the region, and the West Bank Violence Prevention Act would codify that language to ensure that instigators of such violence are held accountable for their actions.”

The text of the West Bank Violence Prevention Act can be viewed here.

Rep. Nadler’s remarks at the “Say No to Ben-Gvir” rally in New York City can be watched here and read here.

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MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Durbin, Senate Democrats Push Trump Administration To Reconsider Student Visa Revocations

US Senate News:

Source: United States Senator for Illinois Dick Durbin
April 28, 2025
Senators to DHS, State Department, ICE: “Students who have entered through our legal immigration system and followed the law remain unsure of what, if any, steps they may take to maintain their status and safeguard themselves from immigration enforcement”
WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, led a group of 35 Senate Democrats in pressing the Trump Administration to reconsider recent decisions to revoke student visas in a letter to Department of Homeland Security (DHS) Secretary Kristi Noem, Secretary of State Marco Rubio, and Immigration and Customs Enforcement (ICE) Acting Director Todd Lyons.
The Senators began by urging the Administration to undo unlawful student visa revocations, citing a recent reversal of some terminations, writing: “We recently learned that your agencies have been revoking student visas and terminating Student Exchange and Visitor Information System (SEVIS) records across the country. These actions to end student status reflected an unannounced change in policy and were inconsistent with existing laws, regulations, policies, and agency guidance governing the maintenance and termination of student status—that is why we welcomed the news late last week that in response to litigation around the country, ICE has reversed these SEVIS terminations. We now urge you to undo other actions to end student status that are inconsistent with such laws, regulations, and agency guidance and ensure that all future actions to end student status fully comply with the law.”
The Senators continued by highlighting the lack of reasoning provided in many of these visa revocations, writing: “[S]tudents across the country—who by all accounts appear to have followed all of the applicable laws and agency guidance—have reported visa revocations with no clear explanation as to the basis to terminate status. SEVP has completed at least 4,736 total terminations of student visa holders’ SEVIS records. By DHS’s own admission, the statute and regulations do not provide SEVP the authority to terminate nonimmigrant status by terminating a SEVIS record. Your decision to reverse such terminations is therefore prudent and required by law.”
The Senators then outlined the Trump Administration’s apparent violation of federal law in revoking these visas, writing: “Current laws, regulations, and agency guidance also require notice to be provided when a student’s status is being terminated or revoked. Here, it is not clear that students were provided the notice required by law. Many students were notified by universities that they have lost their student status when their SEVIS records have been terminated, without being provided any information about potential reinstatement. Some students received emails that their visas were revoked and were directed to self-deport, with no clear information as to the basis for their revocation or means by which they can appeal the revocation. Some students only learned about losing status when arrested by masked federal agents. These reports suggest that students were not given notice of the termination of their status in a manner consistent with existing laws, regulations, and agency guidance.”
The Senators conclude with an appeal to the Administration to reconsider these visa revocations and warning to adhere to federal law, before making a series of immigration requests, writing: “Students who have entered through our legal immigration system and followed the law remain unsure of what, if any, steps they may take to maintain their status and safeguard themselves from immigration enforcement. While we are relieved that ICE has reversed these SEVIS terminations, we now urge you to undo other actions to end student status that are inconsistent with such laws, regulations, and agency guidance. Finally, we understand that you are contemplating additional actions to end student status. Any such changes must be consistent with applicable statutes, including requirements for notice with respect to changes that would deprive a student of their status and ability to live and study in the United States and place them at risk of detention.”
In addition to Durbin, the letter is signed by U.S. Senators Tammy Baldwin (D-WI), Michael Bennett (D-CO), Richard Blumenthal (D-CT), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Chris Coons (D-DE), Catherine Cortez Masto (D-NV), Tammy Duckworth (D-IL), Ruben Gallego (D-AZ), Maggie Hassan (D-NH), Martin Heinrich (D-NM), Mazie Hirono (D-HI), Tim Kaine (D-VA), Mark Kelly (D-AZ), Andy Kim (D-NJ), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Jeff Merkley (D-OR), Patty Murray (D-WA), Jon Ossoff (D-GA), Alex Padilla (D-CA), Jack Reed (D-RI), Jacky Rosen (D-NV), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Jeanne Shaheen (D-NH), Tina Smith (D-MN), Chris Van Hollen (D-MD), Mark Warner (D-VA), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Peter Welch (D-VT), Sheldon Whitehouse (D-RI), and Ron Wyden (D-OR).
For a PDF version of the full letter, click here.
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MIL OSI USA News –

April 29, 2025
MIL-OSI USA: UConn Waterbury Joins Community to Dedicate The Neil O’Leary Building

Source: US State of Connecticut

A downtown Waterbury landmark has entered the next phase of its history as the new home of several UConn academic and research programs, complementing and expanding the wide range of offerings at the adjacent UConn Waterbury campus.

It also has a new name: The Neil O’Leary Building, honoring the former longtime Waterbury mayor who shepherded the 130-year-old Odd Fellows Hall from ruin to renaissance in partnership with UConn, local and state officials, and the building’s owners.

About 200 people, including scores of lifelong Waterbury residents, gathered last Thursday night at the building for the renaming and a ribbon-cutting event.

It included an open house and dedication ceremony with welcoming remarks from local and regional leaders including Lt. Gov. Susan Bysiewicz, U.S. Rep. Jahana Hayes, Waterbury Mayor Paul Pernerewski Jr., and several others.

“This is such an exciting time for UConn and our beautiful state, and this building is a testament to what’s possible,” Bysiewicz said of the six-story building, which had been unused and deteriorating for about 15 years before the restoration.

Lt Gov. Susan Bysiewicz speaks at the dedication of the newly renovated historic building (Steve Bustamante / University of Connecticut)

Green Hub Development III LLC purchased and renovated the landmark building through a public-private partnership, in which O’Leary was one of the most enthusiastic proponents. UConn is leasing about 26,300 square feet to expand the University’s offerings in nursing, allied health, and other programs.

Thursday night’s event celebrated not only UConn Waterbury’s growing downtown presence, but also O’Leary’s vision as the driving force in the rescue, restoration, and reuse of the once-crumbling historic structure.

“Mayor O’Leary recognized the potential of this structure when many considered it beyond saving,” said Fumiko Hoeft, UConn Waterbury’s dean and chief administrative officer.

“His vision – combined with the University’s leadership and strong partners – brought it back to life. Today, it stands ready to serve the community and generations of UConn students.”

Just a few years ago, O’Leary knew it might be a hard sell to convince others of the potential he’d long seen in the structure.

He laughed Thursday as he recalled shepherding UConn leaders through its dank, crumbling hallways – all wearing hard hats and face masks, led by flashlights, and carrying umbrellas to shield them from the rain that came in through the roof’s many holes.

Today, the building is pristine, bright, and welcoming.

It’s home to UConn’s clinic-style nursing and health care simulation rooms, research facilities, study lounges, office and administrative space, a spacious former banquet room, and other areas suitable for maker space, incubator studios, classes, and large gatherings.

The building also houses Access Rehab Centers, which held an open house during Thursday night’s event; and is home to the Waterbury Robotics Institute, a collaboration between UConn and Waterbury Public Schools.

Although speaker after speaker at Thursday night’s event lauded O’Leary, he said credit also goes to a wide range of partners that include Hoeft, UConn President Radenka Maric, UConn trustees Tom Ritter and Marilda Gandara, Waterbury’s current administration and legislative delegation, and many others.

“At the end of the day, what’s important is what we can do for the city’s and the state’s greatest assets – and that’s our students,” O’Leary said. “We must do everything in our power to support our rising students, and our partnership between our city and UConn is so strong.”

The six-story building, originally built for the local chapter of the International Order of Odd Fellows social group, is in a prime downtown location and dates to 1895.

UConn Waterbury Campus Dean Fumiko Hoeft (Steve Bustamante / University of Connecticut)

Its renovation was funded through a state grant to the City of Waterbury along with Green Hub’s private funding. It was modernized for today’s needs while retaining key elements of its history, including Venetian Gothic exterior features overlooking the Waterbury Green and the ornate ceiling in its former banquet hall.

UConn’s plan to expand its nursing education programs into the building is particularly noteworthy given the high demand in that profession, both statewide and specifically in Waterbury and the Naugatuck Valley region.

Maric, a frequent and enthusiastic visitor to UConn Waterbury, said Thursday night that the connections between the University and community go beyond the renovation of the Neil O’Leary Building.

“This is about vision, community, and unity … There’s something very special about this place, as a working-class community whose residents care deeply for each other,” Maric said.

The growth of UConn Waterbury’s campus and academic offerings also complements the UConn Strategic Plan, which includes ensuring that the campuses in Waterbury, Hartford, Stamford, and Avery Point offer signature programs that are destinations within UConn.

UConn’s Board of Trustees approved the expansion plans in 2023, which are part of a larger commitment to strengthen the University’s presence and partnerships in the Naugatuck Valley.

They include UConn’s deep involvement in the Waterbury Promise scholarship program, under which many dozens of Waterbury graduates are attending the University; and the establishment and growth of the allied health sciences major on the campus.

UConn Waterbury also prides itself on providing a tight-knit community that serves students’ individual needs while ensuring they can access world-class UConn programs in undergraduate and graduate-level fields that lead to strong, satisfying career paths.

UConn Waterbury’s new space in the Neil O’Leary Building will be ideal for serving current students while also advancing community partnerships with schools, the City of Waterbury, the regional business community, and other groups.

The 26,000 square feet of academic, research, and community space that UConn is leasing also provides resources for humanities and social sciences.

That includes the HACER Lab, a hub for humanistic inquiry, research, and pedagogy developed in collaboration with Waterbury students and community partners; the Ideas + Impact initiative; and other learning communities focused on social impact, sustainability, and health-related projects.

These facilities will be used by programs in nursing, allied health, psychological sciences, urban and community studies, humanities and social sciences, business, and community partnerships.

Former Waterbury Mayor Neil O’Leary. (Steve Bustamante / University of Connecticut)

Additionally, it will serve as the home for the Haskins Global Literacy Hub, a newly formed partnership between Yale, UConn Global Affairs, and UConn Waterbury focused on promoting education and conducting innovative research to enhance literacy globally.

The Odd Fellows Building has a rich history in the City of Waterbury, and its restoration and use by UConn carries strong emotional and economic significance to the area.

Built at a cost of $100,000 and said to be among the finest of its time in the region, the building’s opening in 1895 drew more than 5,000 members of the group from around the East Coast and was featured in the New York Times.

In fact, the opening was marked by a parade and the event was so important to the city that all factories and schools were closed for the day, and all business shut down at noon, according to another Times article.

A clothing store occupied the first floor for about its first five years in addition to the meeting rooms and social spaces used by the Odd Fellows and others on the higher floors. Later, the popular Grieve, Bissett & Holland department store was in the building from 1902 until the mid-1960s.

Pernerewski, who joked that his role as Waterbury’s current mayor includes many ribbon-cuttings at projects that O’Leary initiated during his tenure, said Thursday that the building’s revival is symbolic: Just as O’Leary envisioned a promising future for a crumbling building, that building now provides a promising future for those who will use it.

“Where others saw obstacles, Neil always saw potential. That’s exactly what he saw in this building: a structure that had seen better days, but which could be brought back to life and serve this community in a powerful way,” Pernerewski said.

“This building and all it’s going to bring to UConn Waterbury and to our city is a reflection of Neil’s vision for Waterbury: bold, hopeful, and committed to progress.”

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Missouri State Archives Hosts Emergency Preparedness Exercise for MayDay Campaign

Source: US State of Missouri

For Immediate Release: April 28, 2025

Missouri State Archives Hosts Emergency Preparedness Exercise for MayDay Campaign

JEFFERSON CITY, MO – In honor of the national MayDay campaign to promote emergency preparedness in the cultural heritage field, the Missouri State Archives, a division of Secretary of State Denny Hoskins’ office, is conducting a hands-on training exercise to strengthen its ability to protect Missouri’s historical records during emergencies.

“These training exercises are essential to ensure preparedness for small incidents with the records of state and local government agencies all the way up to major responses like the flooding of the Carter County Courthouse,” said State Archivist John Dougan.

On April 30 and May 1, Archives staff members will participate in a wet-incident retrieval and stabilization exercise, practicing the recovery of three different types of historical items. The training will begin with a brief instructional session in the Archives Conference Room before moving to the Conservation Lab for hands-on work. Each session is expected to last approximately two hours.

“Missouri’s history is preserved through countless documents, records, and artifacts entrusted to our care,” said Secretary Hoskins. “Proactive preparation is critical to ensuring these irreplaceable pieces of our heritage survive natural disasters or unforeseen emergencies. I commend the Archives Division for its commitment to safeguarding the past for future generations.”

The annual MayDay initiative, sponsored by the Foundation for Advancement in Conservation, encourages institutions to dedicate at least one day to improving their emergency preparedness plans. The Missouri State Archives’ participation reflects its ongoing commitment to protecting Missouri’s governmental and historical records through education, training, and best practices in archival preservation.

For more information about the Missouri State Archives and its preservation efforts, visit www.sos.mo.gov/archives.

Photos from the 2024 MayDay exercises are attached for use.

About the Missouri State Archives
The Missouri State Archives, established in 1965, serves as the official repository for the state’s permanent and historical records. Its extensive collections date back to 1770 and encompass executive, legislative, and judicial documents; state department and agency records; land and military records; state publications; photographs; maps; county and municipal records on microfilm; and various manuscripts and reference materials. With holdings exceeding 336 million pages of paper, 770,000 photographs, 9,000 maps, 66,000 reels of county government records on microfilm, 560 cubic feet of published state documents, and 1,000 audio/video items, the Archives plays a crucial role in preserving Missouri’s rich history. These resources are accessible to government officials, historians, students, genealogists, and the general public through the Archives’ research room.

About the Missouri Secretary of State’s Office
The Missouri Secretary of State’s Office serves as a central hub for key state functions that promote transparency, security, and opportunity for all Missourians. The Office oversees the administration of fair and secure elections, registers and supports businesses, maintains and preserves state records through the State Archives, and ensures public access to government rulemaking via the Administrative Rules Division.

Additionally, the Office protects investors through the Securities Division, supports libraries and literacy programs across the state, and administers the Safe at Home address confidentiality program for survivors of abuse and assault. With a commitment to service, accountability, and civic engagement, the Secretary of State’s Office works every day to strengthen Missouri’s government and communities.

About Secretary of State Denny Hoskins
Denny Hoskins, CPA, was elected Missouri’s 41st Secretary of State in November 2024. With a strong background in business and public service, he is committed to improving government efficiency, transparency, and supporting Missouri families. Hoskins previously served as a legislator in both the state Senate and House. He and his wife, Michelle, reside in Warrensburg and have five adult children.

For more information, please contact Rachael Dunn, Director of Communications, via email at [email protected].

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Deluzio Holds Resident Town Hall at Millvale Senior Community
Source: US Congressman Chris Deluzio (PA)

Seniors Shared Concern About Cuts to Social Security & Other Critical Federal Programs
MILLVALE, PA — Today, Congressman Chris Deluzio (PA-17) visited the Lloyd McBride Independent Senior Living Community in Millvale for a town hall meeting with residents. He answered questions about the Trump Administration’s and Congressional Republicans’ attacks on federal programs that residents rely on, like Social Security, Medicare, and Medicaid—and shared how he’s fighting back to stand up for Western Pennsylvanians.

“The good folks at Lloyd McBride Independent Senior Living Community have earned the right to retire with dignity, and they rightfully expect our government to deliver their hard-earned benefits. It’s outrageous that the Trump Administration and Congressional Republicans are attacking so many of those commitments that seniors rely on,” said Congressman Deluzio. “It’s tough for some seniors to travel to events, so I was glad to come to them in Millvale to hear their concerns, answer their questions, and share a simple message: no matter what they throw at us down in Washington, I’ll keep fighting for all of us in Western PA.”

Photos from the event are available for use by the press here.

Below are just a few examples of the federal actions that are causing concern for seniors in Western Pennsylvania and across the country—as well as how Congressman Deluzio is fighting back:
- The Social Security Administration has plans to fire thousands of workers, is planning to close field offices around the country, is ending payments by paper check, is pushing seniors to use its unreliable website for customer service instead of in-person assistance, allowed DOGE to access sensitive personal data, has said it will stop responding to Congressional inquiries, and has switched its official messaging to Elon Musk-owned social media platform “X” (formerly known as Twitter) following cuts to communications staff.
  
  In response, Congressman Deluzio has:
- Congressional Republican’ budget outline targets Medicaid for $880 billion in cuts. Medicaid is a key source of funding for senior living homes. More than 130,000 people that Congressman Deluzio represents in Western PA rely on Medicaid for healthcare.
- If Congressional Republicans are successful in rolling back healthcare elements of the Inflation Reduction Act, Americans would lose a key Medicare provision that caps out-of-pocket prescription drug costs for Medicare enrollees at $2,000 per year. This is expected to save PA Medicare enrollees an average of $2,515 this year.
  
  Congressman Deluzio has called attention to this under-discussed threat and will continue doing so.
Congressman Deluzio looks forward to discussing many of these issues further at his upcoming Telephone Town Hall focused on protecting Social Security and Healthcare next Tuesday, April 29th at 6:00pm and at his in-person May Town Hall (details forthcoming).

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MIL OSI USA News –
April 29, 2025
MIL-OSI USA: Congressman Deluzio Helps Unfreeze $400,000 Federal Grant for Local Energy Efficiency Projects

Source: US Congressman Chris Deluzio (PA)

Unfrozen Funds From the U.S. Department of Energy Will Help Lower Utility Costs for Low-Income Western Pennsylvanians

CARNEGIE, PA — Today, Congressman Chris Deluzio (PA-17) celebrated that with his office’s assistance, the U.S. Department of Energy has unfrozen $400,000 in funding to Energy Efficiency Empowerment (E3)— a fiscally-sponsored project of local nonprofit New Sun Rising. E3 helps to retrofit existing buildings in low-income communities to make them more energy efficient.

The organization had received the first round of funding from the Building Upgrade Prize grant in October of 2023, and was able to complete nine neighborhood improvement projects in partnership with local nonprofit developers. In January of 2025, as they were expecting to receive the second round of funding, E3 lost all communication from the Department of Energy’s Building Technologies Office—the program had been paused without justification. Following outreach from Congressman Deluzio’s office, the money is now unfrozen and is available to the nonprofit to continue implementation of the 25 home energy efficiency projects for which the grant was intended.

“The high cost of living is making the American Dream seem more and more unrealistic for folks, and utility costs are a big part of that. This funding is estimated to help lower utility costs by $500 per year for many Western Pennsylvanians—that’s real money back to help make life better,” said Congressman Deluzio. “I’m proud that our work to unfreeze this grant was a success, but this funding never should have been frozen in the first place. I’m concerned that the Department of Energy has removed some key pages about this grant program from their website, making it hard for organizations to plan. I’m urging the Administration to fully restore this program and keep these resources flowing to help lower utility costs for people feeling squeezed by rising costs.”

“We sincerely thank Congressman Deluzio and his office for their steadfast advocacy in helping to secure the release of frozen federal funds,” said Lucy de Barbaro, E3 Director. “We are also deeply grateful to the many lawyers and organizations who swiftly mobilized and worked tirelessly to challenge the funding freezes in courts. In particular, we are thankful for the invaluable insight and groundwork provided by Lawyers for Good Government and the Environmental Protection Network. Fair Shake Environmental Legal Services, with financial backing from the Heinz Endowments, started legal action on our behalf, and we are proud to acknowledge their role in this victory. While the future of the full Buildings Upgrade Prize program—originally planned to run from 2023 to 2028—remains uncertain, we are thrilled to continue our mission of advancing energy efficiency and long-term housing affordability for another year.”

The Department of Energy’s “Buildings Up Prize,” administered by the National Renewable Energy Laboratory (NREL), is designed to support innovative approaches to retrofitting buildings, to include high performance technologies.

The Trump Administration’s efforts to freeze funding and pause federal grants has created significant uncertainty for grantees, varying by agency and program. As of now, the courts have paused many of these freezes. However, Congressman Deluzio’s office will continue to monitor these developments and fight to make sure this congressionally-authorized funding will keep flowing to projects that make life better for Western Pennsylvanians. If you are the recipient of a federal grant and have been notified that this funding is no longer available to you or are experiencing other issues accessing your lawfully appropriated funds, please share your concerns with Congressman Deluzio’s office at PA17Grants@mail.house.gov.

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MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Senator Reverend Warnock, Colleagues Demand President Trump Rescind Harmful Claims That He Will Transfer Incarcerated U.S. Citizens to a Foreign Prison

US Senate News:

Source: United States Senator Reverend Raphael Warnock – Georgia

Senator Reverend Warnock, Colleagues Demand President Trump Rescind Harmful Claims That He Will Transfer Incarcerated U.S. Citizens to a Foreign Prison

In the letter, Senator Reverend Warnock calls for the return of a Maryland father wrongfully deported to El Salvador, Kilmar Abrego Garcia

Washington, D.C. — U.S. Senators Reverend Raphael Warnock (D-GA), Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee led 24 of their Democratic colleagues in a letter to President Donald Trump calling for him to immediately rescind the dangerous and offensive claim that he may transfer incarcerated U.S. citizens to El Salvador.

In the letter, the Senators also urge the President to follow the law and adhere to all applicable court orders and immediately facilitate the return to the United States of Kilmar Abrego Garcia, whom his Administration illegally deported to El Salvador in direct contravention of a court order specifically prohibiting such removal. In the letter, the Senators explain how these unprecedented actions threaten the constitutional protections of all Americans and violate the fundamental principles on which this nation was founded.

“Our laws also do not allow you to send individuals from U.S. soil to El Salvador without due process. Further, the Executive Branch must comply with longstanding domestic and international law that prohibits the United States from transferring any person from our jurisdiction or effective control to a place where the person would face certain serious human rights violations. Your Administration’s actions in sending individuals to a Salvadoran prison notorious for inhumane conditions underscore the urgency and applicability of these requirements. The bedrock principles of the Fifth Amendment’s Due Process Clause protect individuals from being “deprived of life, liberty, or property, without due process of law,’” the Senators continued.

Even under extraordinary wartime authorities such as the Alien Enemies Act, the Supreme Court of the United States has held that noncitizens should, at a minimum, have an opportunity to prove whether or not the Act should apply to them. The Supreme Court recently ordered the federal government to facilitate the return of Mr. Abrego Garcia and “ensure that his case is handled as it would have been had he not been improperly sent to El Salvador.”

Along with Senators Warnock and Durbin, the letter was signed by U.S. Senators Chris Van Hollen (D-MD), Mazie Hirono (D-HI), Chris Coons (D-DE), Alex Padilla (D-CA), Richard Blumenthal (D-CT), Angela Alsobrooks (D-MD), Jeff Merkley (D-OR), Adam Schiff (D-CA), Peter Welch (D-VT), Tammy Duckworth (D-IL), Tim Kaine (D-VA), Amy Klobuchar (D-MN), Cory Booker (D-NJ), Bernie Sanders (I-VT), Sheldon Whitehouse (D-RI), Lisa Blunt Rochester (D-DE), John Hickenlooper (D-CO), Ron Wyden (D-OR), Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Ed Markey (D-MA), Tina Smith (D-MN), Patty Murray (D-WA), and Martin Heinrich (D-NM).

The letter is endorsed by the following organizations: Center for Victims of Torture, American Immigration Council, Leadership Conference on Civil and Human Rights, FWD.us, People for the American Way, National Immigrant Justice Center, SMART Union, and Human Rights First.

The full letter is available HERE and below.

Dear President Trump:

We call on you to immediately rescind the dangerous and offensive claim that you may transfer incarcerated U.S. citizens to El Salvador. We further urge you to follow the law and adhere to all applicable court orders and immediately facilitate the return to the United States of Kilmar Abrego Garcia, whom your Administration illegally deported to El Salvador in direct contravention of a court order specifically prohibiting such removal. Your unprecedented actions threaten the constitutional protections of all Americans and violate the fundamental principles on which this nation was founded.

With regard to your shocking assertion about transferring Americans to El Salvador, you cannot deport Americans to a foreign country for any reason. This nation’s founding fathers declared independence based on “repeated injuries and usurpations” by the then-King of Great Britain, including “transporting us beyond Seas to be tried for pretended offences” and “depriving us in many cases, of the benefits of Trial by Jury.” Accordingly, Congress has passed no provision into law that would permit exiling United States citizens to a foreign country for any reason. One conservative legal scholar called your threats to deport U.S. citizens “obviously illegal and unconstitutional.”

Our laws also do not allow you to send individuals from U.S. soil to El Salvador without due process. Further, the Executive Branch must comply with longstanding domestic and international law that prohibits the United States from transferring any person from our jurisdiction or effective control to a place where the person would face certain serious human rights violations. Your Administration’s actions in sending individuals to a Salvadoran prison notorious for inhumane conditions underscore the urgency and applicability of these requirements. The bedrock principles of the Fifth Amendment’s Due Process Clause protect individuals from being “deprived of life, liberty, or property, without due process of law.” Throughout our nation’s history, the Supreme Court has long read the Fifth Amendment’s guarantee of due process to require that the government provide persons with certain procedural due process protections, including notice and an opportunity to be heard before any such deprivation of liberty.

Even under extraordinary wartime authorities such as the Alien Enemies Act, the Supreme Court of the United States has held that noncitizens should, at a minimum, have an opportunity to prove whether or not the Act should apply to them. In a statement accompanying the Supreme Court’s recent order for the federal government to facilitate the return of Mr. Abrego Garcia and “ensure that his case is handled as it would have been had he not been improperly sent to El Salvador,” Justice Sotomayor noted that your Administration’s argument suggesting that the government is permitted to leave Mr. Abrego Garcia in the Salvadoran prison after wrongfully sending him there “implies that it could deport and incarcerate any person, including U.S. citizens, without legal consequence, so long as it does so before a court can intervene.” She went on to note that this is a “view [that] refutes itself.”

You must immediately facilitate the return of Mr. Abrego Garcia, which is unquestionably within your power to do since your Administration is paying the government of El Salvador to detain him. As Judge Harvie Wilkinson, a conservative appointee of President Reagan, wrote in a unanimous Fourth Circuit opinion rejecting your Administration’s efforts to delay taking steps to bring Mr. Abrego Garcia back to the United States:

The government is asserting a right to stash away residents of this country in foreign prisons without the semblance of due process that is the foundation of our constitutional order. Further, it claims in essence that because it has rid itself of custody that there is nothing that can be done. This should be shocking not only to judges, but to the intuitive sense of liberty that Americans far removed from courthouses still hold dear.

You must also end your unlawful attempts to deport noncitizens without due process under the Alien Enemies Act, as the Supreme Court ordered this weekend. You have no authority to openly defy court orders requiring you: (1) to return someone who has been wrongfully deported, or (2) to grant individuals the due process they are owed under our laws. As Judge Boasberg wrote in his order last week concluding that probable cause exists to find the government in criminal contempt:

The Constitution does not tolerate willful disobedience of judicial orders—especially by officials of a coordinate branch who have sworn an oath to uphold it. To permit such officials to freely “annul the judgments of the courts of the United States” would not just “destroy the rights acquired under those judgments”; it would make “a solemn mockery” of “the constitution itself.” …“So fatal a result must be deprecated by all.”

You must immediately facilitate the return to the United States of Kilmar Abrego Garcia, follow all court orders, and withdraw your dangerous and offensive claims that you may transfer U.S. citizens to a foreign prison. The Constitution demands it.

Sincerely,

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: American Music Tourism Act PASSES House

Source: United States House of Representatives – Representative Diana Harshbarger (R-TN)

WASHINGTON — Today, Congresswoman Diana Harshbarger’s bipartisan American Music Tourism Act passed the House Floor on suspension with bipartisan support.

This legislation would require the Assistant Secretary of Commerce for Travel and Tourism to implement a plan to support and increase music tourism for both domestic and international visitors. The Act would also require the Assistant Secretary to report to Congress on the success and challenges related to achieving these tourism goals.

Notably, this bill will not require any additional taxpayer dollars to implement.

Congresswoman Harshbarger issued the following statement.

“We’ve been working longer than nine to five to get this legislation passed through the House, and I’m thrilled that it passed with such overwhelming support. This legislation will have a direct impact on Tennessee’s First Congressional District. As home to iconic destinations like Dollywood in Pigeon Forge and the Birthplace of Country Music in Bristol, we play a vital role in the music tourism industry.

“I’m thankful to my colleague and co-lead Rep. Nanette Barragán (CA-44), as well as all of the members who voted to support this bill. I look forward to this legislation making its way through the Senate, where it’s sponsored by Senator Blackburn, with the ultimate goal of having it signed into law by President Trump.”

View the bill text HERE.

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Ernst Applauds Nationwide Year-Round E15 for Summer Driving Season

US Senate News:

Source: United States Senator Joni Ernst (R-IA)
Published: April 28, 2025
Senator will work to build on waiver to push for long-term certainty.
WASHINGTON – Following her continuous advocacy, U.S. Senator Joni Ernst (R-Iowa) welcomed the Environmental Protection Agency’s announcement today that they will issue an emergency waiver for E15, allowing the fuel to be sold nationwide during this summer’s driving season.
“Today’s announcement means consumers will have more affordable choices at the pump, hardworking Iowa farmers will have stronger corn markets, and our nation will bolster domestic energy production,” Ernst said. “This is yet another example of promises made, promises kept by President Trump. It’s clear he is making our farmers, producers, and all of rural America a priority, and I look forward to working alongside him to secure permanent, nationwide access to this cleaner, cheaper choice at the pump.”
Background:
Throughout her time in Congress, Ernst has been a strong advocate for homegrown, Iowa biofuels. Since 2015, she has supported legislation to permanently allow the nationwide sale of year-round E15. She looks forward to continuing to work with the Trump administration to make it a permanent reality.
In April 2025, Ernst and the entire Iowa delegation urged President Trump to issue an emergency waiver, which would make E15 available across the country and utilize the strength of American agriculture to provide energy independence. In April 2024, Ernst and a bipartisan group of senators also secured year-round, nationwide E15 sales for the entire 2024 driving season.

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Governor Phil Scott Appoints Brandon Thrailkill as Caledonia County Sheriff

Source: US State of Vermont

Montpelier, Vt. – Governor Phil Scott today announced he has appointed Brandon Thrailkill of Lyndonville as Caledonia County Sheriff following the passing of former Sheriff James Hemond earlier this spring.

“Brandon has a proven track record of public service in Caledonia County both as a law enforcement officer and as an active member in his community,” said Governor Phil Scott. “As a lifelong resident of Caledonia County, I believe Brandon will serve Vermonters well in this role.”

Thrailkill has served as a law enforcement officer for over 13 years. He most recently served as the state transport deputy for the Caledonia County Sheriff’s Department where he rose to the rank of captain within the Department. Prior to that, Thrailkill worked at the Lyndonville Police Department as a patrol officer.

“It’s an absolute honor to have been appointed sheriff to serve the people of Caledonia County. I have big shoes to fill but I look forward to bringing open communication, integrity and continue building trust within the communities we serve,” said Thrailkill. “Caledonia County is my home, and I will lead with purpose and with the community’s wellbeing as a top priority.”

Thrailkill’s appointment is effective immediately.

###

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Senator Budd Secures $1.4 Billion Grant for Western North Carolina

US Senate News:

Source: United States Senator Ted Budd (R-North Carolina)
Washington, D.C. — U.S. Senator Ted Budd (R-N.C.) released the following statement after the U.S. Department of Housing and Urban Development (HUD) approved North Carolina’s Action Plan for $1.4 billion in Community Development Block Grant Disaster Recovery (CDBG-DR) funding. Sen. Budd led a bipartisan, bicameral letter on April 11, 2025, calling on the Trump administration to expedite consideration for North Carolina’s Action Plan.
“After Hurricane Helene devastated Western North Carolina, we have been working tirelessly to rebuild homes, businesses, and infrastructure across the region. Earlier this month, I was proud to lead a bipartisan majority of North Carolina’s congressional delegation in urging the Trump administration to deliver the critical funding our communities need. Just last week, Secretary Scott Turner announced North Carolina has been awarded $1.4 billion to jumpstart the rebuilding process. This life-changing investment will provide real relief to the thousands of families who suffered from Helene’s destruction. I am grateful to the Trump administration for answering our call, acting swiftly, and demonstrating their commitment to our state’s recovery,” said Senator Budd.
BACKGROUND
Sen. Budd led eleven of his congressional colleagues in sending the letter to HUD earlier this month, to help secure this CBDG-DR funding. Read the full letter text HERE.

MIL OSI USA News –

April 29, 2025
MIL-OSI Security: Saugus Man Sentenced to 15 Years in Prison for Drug Conspiracy Involving Tens of Thousands of Counterfeit Pills and Firearm Offense

Source: Office of United States Attorneys

BOSTON – A Saugus man was sentenced today in federal court in Boston for a drug conspiracy involving tens of thousands of counterfeit pills containing methamphetamine, pills containing fentanyl and a firearm offense.

Aaron Lenardis, 38, was sentenced by U.S. District Court Judge Leo T. Sorokin to 15 years in prison, to be followed by five years of supervised release. In November 2024, Lenardis was convicted by a federal jury of conspiracy to possess with intent to distribute 500 grams or more of methamphetamine and 40 grams or more of fentanyl; one count of possession with intent to distribute 500 grams or more of methamphetamine and 40 grams or more of fentanyl; and one count of being a felon in possession of firearms and ammunition. In February 2023, Lenardis was indicted along with co-conspirator Charles Bates.

In August 2022, an investigation began into Bates after he ordered 50 kilograms of an orange binding agent commonly used to make counterfeit Adderall pills, which he was observed picking up at a UPS store in Boston. Bates brought the binding agent to Lenardis’s house in Saugus, where he and Lenardis used it to manufacture counterfeit pills using a pill press.

Throughout September 2022 and October 2022, Bates exchanged text messages with drug customers and associates in which he spoke about pills that are “made to order,” described being physically present at the place where the pills were made—Lenardis’s house—and “watching the guy work so no corners have been cut.” Bates described the pill press being used for 20 hours at a time and producing 5,000 pills per hour. In total, the offense involved at least 136,000 counterfeit pills containing methamphetamine, equivalent to approximately 40 kilograms of such pills.

After the pill press broke, Bates traveled to Pawtucket, R.I. to obtain a replacement. Bates and Lenardis were observed carrying the replacement pill press into Lenardis’ residence in Saugus.

A search of Lenardis’ residence in Saugus on Oct. 25, 2022 resulted in the seizure of an industrial pill press; 14 firearms including a Glock outfitted to operate as a machinegun; at least 1.85 kilograms of pills; powder containing methamphetamine; at least 87.6 grams of pills and powder containing fentanyl and “M30” stamps commonly used to manufacture counterfeit pills.

In November 2024, Bates was sentenced to 10 years in prison to be followed by five years of supervised release.

United States Attorney Leah B. Foley and Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division made the announcement today. Assistant U.S. Attorneys Samuel R. Feldman and Charles Dell’Anno of the Narcotics & Money Laundering Unit prosecuted the case.

MIL Security OSI –

April 29, 2025
MIL-OSI United Kingdom: Youth Mobility Scheme for Uruguayan and British citizens: 2025
Source: United Kingdom – Executive Government & Departments
World news story

Youth Mobility Scheme for Uruguayan and British citizens: 2025

English

Español de América Latina

The Youth Mobility Scheme allows 500 visas, both for Uruguayan and British nationals, to live, study, work and travel in the UK and Uruguay respectively.
In 2025, 500 British and 500 Uruguayan nationals aged 18 to 30 years old will be able to experience life and culture in each other’s country for up to 2 years, as established in the agreement that came into effect in both countries on 31 January 2024.

Uruguayan citizens who would like to travel to the UK under this scheme need to apply for a Youth Mobility Scheme (YMS) visa. British citizens who would like to travel to Uruguay should apply for a Working Holiday temporary residency.

The scheme desires to foster close relations between British and Uruguayan nationals, intending to promote and facilitate access to opportunities that enable youth to gain a better understanding of the other participant’s culture, society, and languages through travel, work, and life experience abroad.

This is the first YMS between the UK and a South American Country. The agreement was signed in August 2023 at the Uruguayan Ministry of Foreign Affairs, during the visit of FCDO Minister for the Americas and Caribbean David Rutley MP to Uruguay.

UK has YMS agreements in place with Andorra, Australia, Canada, Republic of Korea, Hong Kong, Iceland, Japan, Monaco, New Zealand, San Marino, Taiwan and Uruguay.

Uruguay has Working Holiday programmes with Australia, France, Germany, Japan, Netherlands, New Zealand, Sweden, and United Kingdom.

Find below information about the scheme and how to apply, for British and Uruguayan nationals.

Information for British nationals

British citizens interested in applying for a Working Holiday temporary residency must attend the Uruguayan Consulate in London and submit the following documents:

valid passport in good condition, with an expiry date at least one year in the future

a medical certificate from the country of residence where it states that you do not have medical conditions that would make it impossible for you to reside in Uruguay

evidence of a Police Certificate from the country of origin and from any country that you have lived in for the past 5 years. This should be apostilled or legalised, whichever is appropriate. In the UK you can apply for this at: http://www.gov.uk/copy-of-police-records. The six must have been issued within the 6 months prior to the filing of the application

documents that demonstrate that they have sufficient financial resources to meet their needs (such as salary payslips, bank statements, pensions, etc.) issued within 30 days of the application date

declaration of the intended time they will remain in Uruguay, which will be up to 2 years

apostille or legalised birth certificate (whichever is the case, if the person was born outside the UK) and translated (by a certified Uruguayan translator, by Consul or by consular intervention, depending on the case) will be required in Uruguay in order to obtain the Uruguayan National Identity card

Once the documentation is submitted, the Consulate will inform the Ministry of Foreign Affairs’ International Migration Direction, which will notify the National Migration Office. A decision will be made within a maximum of 15 working days.

If the application is successful, the Consulate will let you will know. You will then need to enter Uruguay within 180 days from the notification day. If you need a visa, the Consulate will issue a tourist visa without consulting with the National Migration Office, referring to the temporary residency granted.

Once you are in Uruguay, you will need to go in person to the National Migration Office and the National Civil Identification Office to apply for the National Identity card and pay the required fees. If youneed more information, please contact the Uruguayan Consulate or Uruguayan Embassy: cdlondres@mrree.gub.uy or urureinounido@mree.gub.uy, or call: +44 (0)207 584 4200

Information for Uruguayan nationals:

applications to the Youth Mobility Scheme are online. You can apply from any country in the world, except from the UK

you can apply if you are a Uruguayan National aged 18-30 years old and hold a Uruguayan passport

you can spend up to 2 years in the UK, with multiple entries

you can work but it is not compulsory. You can travel, study short courses or volunteer

you do not need any language, job or skill requirements

you must apply for a visa and pay the Immigration Health Surcharge

you need to demonstrate you have the equivalent to £2,530 in a bank account for at least the past 28 days before applying

you need to get a Criminal Record Certificate. Please request it for Consulate- Ministry of Foreign Affairs, not the British Embassy

you cannot apply if you have any dependants living with you or who are financially dependent on you at the time of application

you must not have not previously taken part in the scheme

Applicants will usually get a decision on their visa within 3 weeks.

For more information, please go to Youth Mobility Scheme visa: Overview – GOV.UK or contact: public.enquiries@homeoffice.gov.uk.

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Published 28 April 2025
MIL OSI United Kingdom –
April 29, 2025
MIL-OSI USA: Rep. Pettersen Leads CO Democratic Delegation in Calling on President Trump to Fund Head Start Amid Child Care Crisis

Source: United States House of Representatives – Representative Brittany Pettersen (Colorado 7th District)

WASHINGTON — Today, U.S. Representative Brittany Pettersen (CO-07) led the Colorado Democratic Congressional Delegation in a letter urging President Trump to fully fund Head Start in the upcoming budget. The letter follows alarming reports that the Trump administration is considering a proposal to eliminate funding for the program.

In Colorado alone, more than 11,600 children rely on Head Start services every year, and the program supports over 5,000 jobs. Head Start provides child care, early education, nutrition, and health services to children in low-income households, while also offering parents opportunities for employment and education.

“As a mom, I know firsthand how difficult it is to find safe, affordable childcare, and for far too many families, it is nearly impossible,” said Pettersen. “Head Start is an essential support for our kids and families to help bring financial independence and give our kids the best shot at success. Gutting funding for this program will have a cascading impact on our local economy, workforce, and our kids’ future and disproportionately impact our rural communities.”

In a letter, the Members shared, “Colorado families face a child care crisis: child care is neither affordable nor accessible, and most families face a lengthy enrollment waitlist. The elimination of Head Start funding would further imperil an already fragile state of affairs – particularly for rural communities, where local child care facilities are often oversubscribed or nonexistent. Head Start facilities often serve as the only affordable option.”

The Members continued, “Since the 1990s, the cost of child care has more than tripled, outpacing wages, the cost of groceries, and even housing. Reducing critical funding for Head Start would reverse decades of bipartisan investment in children amidst a cost-of-living crisis, compounding potential harm for working families.”

“This isn’t about politics. It’s about kids,” said Heather Frenz, executive director of the Colorado Head Start Association. “Colorado’s families need Head Start now more than ever. Eliminating this program would be a devastating blow — and it’s simply unacceptable.”

Signers of the letter include Senators Michael Bennet and John Hickenlooper and Representatives Diana DeGette (CO-01), Joe Neguse (CO-02), and Jason Crow (CO-06).

Full text of the letter can be found HERE.

MIL OSI USA News –

April 29, 2025
MIL-OSI USA: Honoring Fallen New York State Workers

Source: US State of New York

overnor Kathy Hochul today announced the New York State Department of Labor marked Workers’ Memorial Day by holding a ceremony to pay tribute to public service employees who passed away while serving New York State. The New York State Department of Health is launching a social media and awareness campaign in May to remind employers and employees about strategies to stay safe on the job. Additionally, the New York State Department of Transportation and Thruway Authority, joined by State and local partners, will host a Workers Memorial Day ceremony to honor fallen highway and transportation workers Tuesday at the New York State Fairgrounds.

“Our shared commitment to public service is the foundation of who we are as New Yorkers, and today we pay tribute to the men and women who gave their lives for a better world,” Governor Hochul said. “From laborers to law enforcement, and from firefighters, health care workers to transportation employees, our public servants hold together the fabric of our society. We owe an extraordinary debt of gratitude for their sacrifice to New York State.”

The New York State Department of Labor (NYSDOL) marked Workers’ Memorial Day by holding a ceremony to pay tribute to public service employees who passed away while serving New York State. The families of the deceased met privately with NYSDOL Commissioner Roberta Reardon prior to the ceremony and then joined her at the event. The names of the fallen workers can be viewed on this online memorial webpage. The memorial serves as a permanent reminder of the importance of NYSDOL’s mission to enforce safety and health protections to all public sector employees.

New York State Department of Labor Commissioner Roberta Reardon said, “We honor our colleagues who lost their lives while serving the people of New York by vowing to remain vigilant in our work to keep workers safe. The Department of Labor will continue to ensure proper safety precautions and practices are in place to protect our public workers while on the job at worksites across New York State.”

NYSDOL enforces standards to protect public sector employers, which includes State, county and local governments. It also covers public authorities, school districts and fire departments. Additionally, NYSDOL responds to deaths related to occupational safety and health, accidents that send two or more public employees to the hospital, and investigates complaints from public employees or their representatives. The bureau also inspects public employer work sites and provides technical assistance during statewide emergencies. For more information about services, including its free on-site consultations, visit this webpage. If a public worker or their representatives feel a safety of health violation is present at their workplace, they are encouraged to file a complaint.

New York State Health Commissioner Dr. James McDonald said, “Even though fatality rates are improving, work-related illnesses, injuries and deaths still happen far too often. These preventable tragedies are devastating for the impacted families, friends, coworkers, and communities. By taking proactive safety prevention measures, employers can better ensure the overall health and safety of their workers.

The New York State Department of Health is launching a social media and awareness campaign in May to remind employers and employees about strategies to stay safe on the job. This year’s campaign focuses on fall prevention and ladder safety. To help prevent injuries, employers are encouraged to take steps to prioritize safety as a core value and establish clear health and safety policies and training programs. Effective worker safety programs identify on-the-job hazards and establish proper controls and comply with New York State Occupational Safety and Health (OSHA) regulations.

According to the most recent fatality data for New York State for 2023, the fatality rate for workers in New York State continues on the downward trend with 2.8 deaths per 100,000 full-time workers.

There were a total of 246 fatal traumatic work injuries in New York State in 2023, many of which were preventable. A traumatic work injury is an injury sustained on the job due to an acute, identifiable event, such as a fall, machinery accident, assault or exposure.

Research data indicates that there were also more than 7,000 deaths that occurred in 2023 from work-related diseases and illnesses, such as work-related cancers, circulatory diseases related to desk work. Additionally, more than 190,000 recordable nonfatal injuries occur each year in New York State workplaces which can potentially become precursors to future fatal incidents.

The leading events contributing to deaths in all of New York State in 2023 were transportation incidents, which accounted for more than one-third of all work-related deaths. This includes motor vehicle collisions and incidents where pedestrian workers were struck by vehicles. Other major events included falls (especially from heights) and exposures to harmful substances or environments, such as unintentional drug overdoses, exposures to extreme heat or cold, electrocutions and exposures to chemicals.

Out of the 246 deaths in New York State in 2023, 220 were male (89 percent) and 26 (11 percent) were female. Older workers aged 55 and over made up 40 percent of all fatal occupational injuries in 2023. The fatal injury rate for workers aged 65 and over is almost double that for all workers.

Foreign-born workers make up almost 35 percent of all worker deaths in New York State. Hispanic and Latino workers represented 26 percent of all worker deaths in New York State in 2023. The fatal injury rate for this group is 1.4 times the rate for all workers.

The New York State Department of Health collects this information to help researchers gain a better understanding of occupational fatalities and to provide employers and workers with the knowledge they need to stay safe on the job. Staff conduct in-depth investigations of worker deaths to determine what went wrong and to develop better injury prevention guidance and training programs that will assist in hazard identification and assessment procedures.

Staff at the State Health Department collaborate with vulnerable workers, employers and worker advocates to develop guidelines and training programs to help reduce worker injury and fatalities. Learn more at health.ny.gov/worksafe.

New York State Department of Transportation Commissioner Marie Therese Dominguez said, “Our dedicated highway and transportation workers perform their jobs in dangerous situations so that all New Yorkers can go about our daily travels safely and efficiently. Tragically, some of them never returned home. It is entirely appropriate that on Workers Memorial Day we honor their service and their sacrifice and recommit ourselves to doing everything we can to keep these public servants safe. Why? Because safety is everyone’s responsibility, and I urge all New Yorkers to please, put your phone down and pay attention when you are driving and slow down and move over in work zones. Lives are literally at stake.”

New York State Thruway Authority Executive Director Frank G. Hoare said, “In its 70+ year history, the Thruway Authority has lost 22 dedicated employees while on the job, two in the last year. Our Maintenance employees embody the heart and soul of this organization. Roadside workers risk their lives every day to ensure the safety of all drivers on the road, and on this Workers’ Memorial Day, we remember the fallen and honor their commitment and sacrifice to the State of New York.”

The New York State Department of Transportation and Thruway Authority, joined by State and local partners, will host a Workers Memorial Day ceremony to honor fallen highway and transportation workers Tuesday at the New York State Fairgrounds. A total of 58 members of the NYSDOT family and 22 Thruway employees have been killed while on the job over the course of the history of the two organizations. The memorial event will include the ceremonial unveiling of hat and vest displays for Vincent “Vinny” Giammarva and Stephen “Steve” Ebling, two New York State Thruway Authority employees who lost their lives in highway work zone incidents in 2024.

The AFL-CIO first declared April 28 “Workers’ Memorial Day” in 1989 in remembrance of the working people killed and injured on the job every year. The Occupational Safety and Health Act of 1970, which established the OSHA, went into effect on April 28, 1971.

New York State AFL-CIO President Mario Cilento said, “On Workers Memorial Day, we pause to remember and honor the workers who lost their lives on the job and reaffirm our unwavering promise to fight to improve workplace safety. Workers have a fundamental right to a safe job as promised when the Occupational Safety and Health Act was enacted. No worker should lose their life or become ill while performing their job, and no family should have to grieve the loss of a loved one due to preventable and avoidable hazardous working conditions. The New York State AFL-CIO is committed to fighting with every ounce of its existence to ensure that every worker is as safe as possible in every workplace throughout our state. That is the only way we can truly honor those we have lost.”

Civil Service Employees Association President Mary E. Sullivan said, “Today, all of CSEA stands together to honor the public employees who made the ultimate sacrifice in service to our communities. Their dedication, courage, and commitment to the people of New York will never be forgotten. As we remember them, we renew our promise to fight for safer workplaces, respect for all workers, and the dignity they so deeply deserve. In their memory, we move forward, stronger and more determined than ever.”

New York State Public Employees Federation President Wayne Spence said, “There is no such thing as a workplace accident – nearly all on-the-job fatalities could and should be prevented. On this Workers’ Memorial Day, we honor and remember those who died or suffered injury or illness while at work, and we continue the call to action to fight for safer jobs. PEF has always been on the front lines of protecting worker health and safety and we remain committed to making sure every worker goes home at the end of their shift.”

MIL OSI USA News –

April 29, 2025
MIL-OSI: Palomar Holdings, Inc. Announces First Quarter 2025 Financial Results Release Date and Conference Call

Source: GlobeNewswire (MIL-OSI)

LA JOLLA, Calif., April 28, 2025 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ: PLMR) (the “Company”) today announced that it will release its first quarter 2025 results after market close on Monday, May 5, 2025, and will host a conference call at 12:00 p.m. (Eastern Time) the following day, Tuesday, May 6, 2025.

The conference call can be accessed live by dialing 1-877-423-9813 or for international callers, 1-201-689-8573, and requesting to be joined to the Palomar First Quarter 2025 Earnings Conference Call. A replay will be available starting at 4:00 p.m. (Eastern Time) on May 6, 2025, and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13752911. The replay will be available until 11:59 p.m. (Eastern Time) on May 13, 2025.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of the Company’s website at https://ir.palomarspecialty.com/. The online replay will remain available for a limited time beginning immediately following the call.

About Palomar Holdings, Inc.

Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd. (“PSRE”), Palomar Insurance Agency, Inc. (“PIA”), Palomar Excess and Surplus Insurance Company (“PESIC”), Palomar Underwriters Exchange Organization, Inc (“PUEO”), Palomar Crop Insurance Services, Inc, and First Indemnity of America Insurance Company (acquired 1/1/2025). Palomar’s consolidated results also include Laulima Reciprocal Exchange, a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients in five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Palomar’s insurance subsidiaries, Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., and Palomar Excess and Surplus Insurance Company, have a financial strength rating of “A” (Excellent) from A.M. Best.

To learn more, visit PLMR.com

Follow Palomar on LinkedIn: @PLMRInsurance

Contact
Media Inquiries
Lindsay Conner
1-551-206-6217
lconner@plmr.com

Investor Relations
Jamie Lillis
1-203-428-3223
investors@plmr.com
Source: Palomar Holdings, Inc.

The MIL Network –

April 29, 2025

MIL-OSI: RBB Bancorp Reports First Quarter 2025 Earnings

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, April 28, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended March 31, 2025.

First Quarter 2025 Highlights

Net income totaled $2.3 million, or $0.13 diluted earnings per share
Return on average assets of 0.24%, compared to 0.44% for the quarter ended December 31, 2024
Net interest margin expanded to 2.88%, up from 2.76% for the quarter ended December 31, 2024
Net loans held for investment growth of $89.8 million, or 12% annualized
Nonperforming assets decreased $16.5 million, or 20.3%, to $64.6 million at March 31, 2025, down from $81.0 million at December 31, 2024
Book value and tangible book value per share⁽¹⁾ increased to $28.77 and $24.63 at March 31, 2025, up from $28.66 and $24.51 at December 31, 2024

The Company reported net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025, compared to net income of $4.4 million, or $0.25 diluted earnings per share, for the quarter ended December 31, 2024. First quarter of 2025 net income included $6.7 million in pre-tax provision for credit losses mostly related to reducing exposure to nonperforming loans, including higher specific reserves.

“First quarter net income declined to $2.3 million, or 13 cents per share, as we took decisive action to address our nonperforming loans,” said David Morris, Chief Executive Officer of RBB Bancorp. “We reduced our net exposure to nonperforming loans to $51 million, including specific reserves, or 32% since year end. We remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital and we think our actions in the first quarter reflect this.”

“Our loan production was relatively strong during the first quarter driven by continued execution of our initiatives, which resulted in 12% annualized net loan growth. Our loan prospect pipeline continues to be healthy, and we anticipate loan growth to continue in the second quarter, albeit likely at a more moderate pace,” said Johnny Lee, President of RBB Bancorp and President and Chief Executive Officer of the Bank. “While the market environment is volatile, we have not observed significant signs of financial impact to our clients at this time.”

)

Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Net Interest Income and Net Interest Margin

Net interest income was $26.2 million for the first quarter of 2025, compared to $26.0 million for the fourth quarter of 2024. The $186,000 increase was due to a $2.4 million decrease in interest expense, offset by a $2.2 million decrease in interest income. The decrease in interest income was mostly due to the impact of fewer days in the quarter of $1.2 million and lower average excess liquidity (cash and cash equivalents and investment securities) of $1.5 million. The decrease in interest expense was mostly due to the impact of lower average funding rates of $1.5 million, fewer days in the quarter of $621,000 and lower average interest-bearing liabilities of $336,000. The $1.5 million attributed to lower average funding rates included $1.8 million due to a 29 basis point decrease in the average cost of interest-bearing deposits.

The net interest margin (“NIM”) was 2.88% for the first quarter of 2025, an increase of 12 basis points from 2.76% for the fourth quarter of 2024. The NIM expansion was due to a 17 basis point decrease in the overall cost of funds, partially offset by a 3 basis point decrease in the yield on average interest-earning assets. The yield on average interest-earning assets decreased to 5.76% for the first quarter of 2025 from 5.79% for the fourth quarter of 2024 due mainly to a decrease in the yield on average cash and cash equivalents of 32 basis points and average loans of 2 basis points, partially offset by the benefit of a change in the mix in average-earning assets. Average loans represented 84% of average interest-earning assets in the first quarter of 2025, as compared to 82% in the fourth quarter of 2024.

The average cost of funds decreased to 3.15% for the first quarter of 2025 from 3.32% for the fourth quarter of 2024, driven by a 29 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 38 basis point increase in the average cost of borrowings. The average cost of interest-bearing deposits decreased to 3.77% for the first quarter of 2025 from 4.06% for the fourth quarter of 2024. During the first quarter of 2025, $150.0 million in Federal Home Loan Bank (“FHLB”) advances with an average cost of 1.18% matured and were largely replaced with $110.0 million in FHLB advances with various terms at an average rate of 3.88%. The overall funding mix for the first quarter of 2025 remained relatively unchanged from the fourth quarter of 2024 with total deposits representing 90% of the funding mix and average noninterest-bearing deposits representing 17% of average total deposits. The all-in average spot rate for total deposits was 3.06% at March 31, 2025.

Provision for Credit Losses

The provision for credit losses was $6.7 million for the first quarter of 2025 compared to $6.0 million for the fourth quarter of 2024. The first quarter of 2025 provision for credit losses was due to an increase in specific reserves of $2.8 million, net charge-offs of $2.6 million and an increase in general reserves of $1.3 million due mainly to net loan growth. The first quarter increase in specific reserves related mostly to two lending relationships. Net charge-offs included $1.4 million related to a bulk sale of $10.8 million in underperforming single-family residential (“SFR”) mortgage loans, of which $6.5 million were on nonaccrual at the end of the year, and $1.2 million related to an $8.8 million loan transferred to other real estate owned (“OREO”) and subsequently sold. Net charge-offs on an annualized basis represented 0.35% of average loans for the first quarter of 2025 compared to 0.26% for the fourth quarter of 2024. The first quarter provision also took into consideration factors such as changes in loan balances, the loan portfolio mix, the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in nonperforming loans, special mention and substandard loans during the period.

Noninterest Income

Noninterest income for the first quarter of 2025 was $2.3 million, a decrease of $434,000 from $2.7 million for the fourth quarter of 2024. This decrease was mostly due to the fourth quarter of 2024 including $258,000 of income from a Bank Enterprise Award grant (included in other income) and lower net gain on sale of loans as compared to the fourth quarter of 2024.

Noninterest Expense

Noninterest expense for the first quarter of 2025 was $18.5 million, an increase of $873,000 from $17.6 million for the fourth quarter of 2024. This increase was mostly due to higher salaries and employee benefits expense of $716,000 attributed to higher payroll taxes and annual pay increases, which are typically reflected in the first quarter of the year. The annualized noninterest expenses to average assets ratio was 1.90% for the first quarter of 2025, up from 1.76% for the fourth quarter of 2024. The efficiency ratio was 65.1% for the first quarter of 2025, up from 61.5% for the fourth quarter of 2024 due mostly to higher noninterest expense.

Income Taxes

The effective tax rate was 28.2% for the first quarter of 2025 and 13.3% for the fourth quarter of 2024. The increase in the effective tax rate for the first quarter was due in part to lower tax credits combined with higher estimated pre-tax net income for the full year of 2025 as compared to the prior quarter.2

Balance Sheet

At March 31, 2025, total assets were $4.0 billion, a $16.9 million increase compared to December 31, 2024, and a $131.4 million increase compared to March 31, 2024.

Loan and Securities Portfolio

Loans held for investment (“HFI”) totaled $3.1 billion as of March 31, 2025, an increase of $89.8 million, or 12% annualized, compared to December 31, 2024 and an increase of $115.7 million, or 3.8%, compared to March 31, 2024. The first quarter of 2025 net loan growth included $201 million in new production with an average yield of 6.77%. When loan sales, charge-offs, and foreclosures totaling $28.6 million are considered, the annualized first quarter net loan growth rate was 16%. The increase from December 31, 2024 was primarily due to a $51.8 million increase in SFR mortgage loans, a $44.0 million increase in commercial real estate (“CRE”) loans, a $6.0 million increase in commercial and industrial (“C&I”) loans and a $3.4 million increase in Small Business Administration (“SBA”) loans, partially offset by a $14.4 million decrease in construction and land development (“C&D”) loans. The loan to deposit ratio was 98.4% at March 31, 2025, compared to 97.5% at December 31, 2024 and 98.6% at March 31, 2024.

As of March 31, 2025, available for sale securities totaled $378.2 million, a decrease of $42.0 million from December 31, 2024, primarily related to the net decrease in short-term commercial paper of $41.4 million due to maturity and purchase activity during the first quarter of 2025. As of March 31, 2025, net unrealized losses totaled $25.0 million, a $4.2 million decrease, when compared to net unrealized losses of $29.2 million as of December 31, 2024.

Deposits

Total deposits were $3.1 billion as of March 31, 2025, an increase of $58.8 million, or 7.7% annualized, compared to December 31, 2024 and an increase of $114.3 million, or 3.8%, compared to March 31, 2024. The increase during the first quarter of 2025 was due to a $93.6 million increase in interest-bearing deposits, while noninterest-bearing deposits decreased $34.8 million. The increase in interest-bearing deposits included increases in non-maturity deposits of $58.2 million and time deposits of $35.5 million. Wholesale deposits totaled $158.5 million at March 31, 2025, and $147.5 million at December 31, 2024. Noninterest-bearing deposits totaled $528.2 million and represented 16.8% of total deposits at March 31, 2025 compared to $563.0 million and 18.3% at December 31, 2024.

Credit Quality

Nonperforming assets totaled $64.6 million, or 1.61% of total assets, at March 31, 2025, down from $81.0 million, or 2.03% of total assets, at December 31, 2024. The $16.5 million decrease in nonperforming assets was due to sales totaling $20.0 million and payoffs or paydowns of $1.8 million, partially offset by the addition of one $5.3 million CRE loan placed on nonaccrual status in the first quarter of 2025. Nonperforming assets included one $4.2 million OREO (included in “Accrued interest and other assets”) at March 31, 2025, which was a nonaccrual loan at December 31, 2024.

Special mention loans totaled $64.3 million, or 2.05% of total loans, at March 31, 2025, down from $65.3 million, or 2.14% of total loans, at December 31, 2024. The $1.1 million decrease was primarily due to the upgrade of one $1.7 million CRE loan to a pass-rated loan, offset by the addition of one $578,000 C&I loan. All special mention loans are paying current.

Substandard loans totaled $76.4 million at March 31, 2025, down from $100.3 million at December 31, 2024. This $24.0 million decrease was primarily due to loan sales totaling $11.7 million, transfers to OREO totaling $12.8 million, of which $8.8 million was subsequently sold during the first quarter of 2025, and payoffs and paydowns totaling $5.4 million, partially offset by the downgrade of two loans totaling $6.2 million. Of the total substandard loans at March 31, 2025, there were $16.0 million on accrual status.

30-89 day delinquent loans, excluding nonperforming loans, totaled $5.9 million, or 0.19% of total loans, at March 31, 2025, down from $22.1 million, or 0.72% of total loans, at December 31, 2024. The $16.2 million decrease was mostly due to $16.3 million in loans returning to current status, $2.9 million in SFR mortgage loans included in the bulk sale of several underperforming SFR mortgage loans and $398,000 in paydowns and payoffs, offset by $3.5 million in new delinquent loans.3

As of March 31, 2025, the allowance for credit losses totaled $52.6 million and was comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 (included in “Accrued interest and other liabilities”). This compares to the allowance for credit losses of $48.5 million, comprised of an allowance for loan losses of $47.7 million and a reserve for unfunded commitments of $729,000 at December 31, 2024. The $4.1 million increase in the allowance for credit losses for the first quarter of 2025 was due to a $6.7 million provision for credit losses offset by net charge-offs of $2.6 million. Net charge-offs included $1.4 million related to a bulk sale of $10.8 million in underperforming SFR mortgage loans, of which $6.5 million were on nonaccrual at the end of the year, and $1.2 million related to an $8.8 million loan transferred to OREO and subsequently sold. The allowance for loan losses as a percentage of loans HFI increased to 1.65% at March 31, 2025, compared to 1.56% at December 31, 2024, due to an increase in specific reserves. The allowance for loan losses as a percentage of nonperforming loans HFI was 86% at March 31, 2025, an increase from 68% at December 31, 2024.

	For the Three Months Ended March 31, 2025
*(dollars in thousands)*	Allowance for loan losses			Reserve for unfunded loan commitments			Allowance for credit losses
Beginning balance	$	47,729		$	729		$	48,458
Provision for (reversal of) credit losses		6,846			(100	)		6,746
Less loans charged-off		(2,727	)		—			(2,727	)
Recoveries on loans charged-off		84			—			84
Ending balance	$	51,932		$	629		$	52,561

Shareholders’ Equity

At March 31, 2025, total shareholders’ equity was $510.3 million, a $2.4 million increase compared to December 31, 2024, and a $3.7 million decrease compared to March 31, 2024. The increase in shareholders’ equity for the first quarter of 2025 was due to lower net unrealized losses on available for sale securities of $3.0 million, net income of $2.3 million and equity compensation activity of $43,000, offset by common stock cash dividends paid of $2.9 million. The decrease in shareholders’ equity for the last twelve months was due to common stock repurchases of $19.2 million and dividends paid of $11.6 million on common stock, offset by net income of $20.9 million, lower net unrealized losses on available for sale securities of $3.7 million, and equity compensation activity of $2.5 million. Book value per share and tangible book value per share⁽¹⁾ increased to $28.77 and $24.63 at March 31, 2025, up from $28.66 and $24.51 at December 31, 2024 and up from $27.67 and $23.68 at March 31, 2024.

)

Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.

Corporate Overview

RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of March 31, 2025, the Company had total assets of $4.0 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

Conference Call

Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, April 29, 2025, to discuss the Company’s first quarter 2025 financial results.

To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 534591, conference ID RBBQ125. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52277, approximately one hour after the conclusion of the call and will remain available through May 13, 2025.

The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

Disclosure

This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

RBB BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)

	March 31,			December 31,			September 30,			June 30,			March 31,
	2025			2024			2024			2024			2024
Assets
Cash and due from banks	$	25,315		$	27,747		$	26,388		$	23,313		$	21,887
Interest-earning deposits with financial institutions		213,508			229,998			323,002			229,456			247,356
Cash and cash equivalents		238,823			257,745			349,390			252,769			269,243
Interest-earning time deposits with financial institutions		600			600			600			600			600
Investment securities available for sale		378,188			420,190			305,666			325,582			335,194
Investment securities held to maturity		5,188			5,191			5,195			5,200			5,204
Loans held for sale		655			11,250			812			3,146			3,903
Loans held for investment		3,143,063			3,053,230			3,091,896			3,047,712			3,027,361
Allowance for loan losses		(51,932	)		(47,729	)		(43,685	)		(41,741	)		(41,688	)
Net loans held for investment		3,091,131			3,005,501			3,048,211			3,005,971			2,985,673
Premises and equipment, net		24,308			24,601			24,839			25,049			25,363
Federal Home Loan Bank (FHLB) stock		15,000			15,000			15,000			15,000			15,000
Cash surrender value of bank owned life insurance		60,699			60,296			59,889			59,486			59,101
Goodwill		71,498			71,498			71,498			71,498			71,498
Servicing assets		6,766			6,985			7,256			7,545			7,794
Core deposit intangibles		1,839			2,011			2,194			2,394			2,594
Right-of-use assets		26,779			28,048			29,283			30,530			31,231
Accrued interest and other assets		87,926			83,561			70,644			63,416			65,608
Total assets	$	4,009,400		$	3,992,477		$	3,990,477		$	3,868,186		$	3,878,006
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	528,205		$	563,012		$	543,623		$	542,971		$	539,517
Savings, NOW and money market accounts		721,216			663,034			666,089			647,770			642,840
Time deposits, $250,000 and under		1,000,106			1,007,452			1,052,462			1,014,189			1,083,898
Time deposits, greater than $250,000		893,101			850,291			830,010			818,675			762,074
Total deposits		3,142,628			3,083,789			3,092,184			3,023,605			3,028,329
FHLB advances		160,000			200,000			200,000			150,000			150,000
Long-term debt, net of issuance costs		119,624			119,529			119,433			119,338			119,243
Subordinated debentures		15,211			15,156			15,102			15,047			14,993
Lease liabilities – operating leases		28,483			29,705			30,880			32,087			32,690
Accrued interest and other liabilities		33,148			36,421			23,150			16,818			18,765
Total liabilities		3,499,094			3,484,600			3,480,749			3,356,895			3,364,020
Shareholders’ equity:
Common stock		260,284			259,957			259,280			266,160			271,645
Additional paid-in capital		3,360			3,645			3,520			3,456			3,348
Retained earnings		263,885			264,460			262,946			262,518			259,903
Non-controlling interest		72			72			72			72			72
Accumulated other comprehensive loss, net		(17,295	)		(20,257	)		(16,090	)		(20,915	)		(20,982	)
Total shareholders’ equity		510,306			507,877			509,728			511,291			513,986
Total liabilities and shareholders’ equity	$	4,009,400		$	3,992,477		$	3,990,477		$	3,868,186		$	3,878,006

RBB BANCORP AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
*(In thousands, except share and per share data)*

	For the Three Months Ended
	March 31, 2025		December 31, 2024		March 31, 2024
Interest and dividend income:
Interest and fees on loans	$	45,621	$	46,374	$	45,547
Interest on interest-earning deposits		2,014		3,641		5,040
Interest on investment securities		4,136		3,962		3,611
Dividend income on FHLB stock		330		330		331
Interest on federal funds sold and other		235		248		266
Total interest and dividend income		52,336		54,555		54,795
Interest expense:
Interest on savings deposits, NOW and money market accounts		4,468		4,671		4,478
Interest on time deposits		19,084		21,361		23,322
Interest on long-term debt and subordinated debentures		1,632		1,660		1,679
Interest on FHLB advances		989		886		439
Total interest expense		26,173		28,578		29,918
Net interest income before provision for credit losses		26,163		25,977		24,877
Provision for credit losses		6,746		6,000		—
Net interest income after provision for credit losses		19,417		19,977		24,877
Noninterest income:
Service charges and fees		1,017		988		992
Gain on sale of loans		81		376		312
Loan servicing fees, net of amortization		588		492		589
Increase in cash surrender value of life insurance		403		407		382
Gain on OREO		—		—		724
Other income		206		466		373
Total noninterest income		2,295		2,729		3,372
Noninterest expense:
Salaries and employee benefits		10,643		9,927		9,927
Occupancy and equipment expenses		2,407		2,403		2,443
Data processing		1,602		1,499		1,420
Legal and professional		1,515		1,355		880
Office expenses		408		399		356
Marketing and business promotion		197		251		172
Insurance and regulatory assessments		730		677		982
Core deposit premium		172		182		201
Other expenses		848		956		588
Total noninterest expense		18,522		17,649		16,969
Income before income taxes		3,190		5,057		11,280
Income tax expense		900		672		3,244
Net income	$	2,290	$	4,385	$	8,036

Net income per share
Basic	$	0.13	$	0.25	$	0.43
Diluted	$	0.13	$	0.25	$	0.43
Cash dividends declared per common share	$	0.16	$	0.16	$	0.16
Weighted-average common shares outstanding
Basic		17,727,712		17,704,992		18,601,277
Diluted		17,770,588		17,796,840		18,666,683

RBB BANCORP AND SUBSIDIARIES
AVERAGE BALANCE SHEET AND NET INTEREST INCOME
(Unaudited)

	For the Three Months Ended
	March 31, 2025							December 31, 2024							March 31, 2024
(tax-equivalent basis,	Average		Interest		Yield /			Average		Interest		Yield /			Average		Interest		Yield /
*dollars in thousands)*	Balance		& Fees		Rate			Balance		& Fees		Rate			Balance		& Fees		Rate
Interest-earning assets
Cash and cash equivalents ⁽¹⁾	$	194,236	$	2,249		4.70	%	$	308,455	$	3,890		5.02	%	$	364,979	$	5,306		5.85	%
FHLB Stock		15,000		330		8.92	%		15,000		330		8.75	%		15,000		331		8.88	%
Securities
Available for sale ⁽²⁾		390,178		4,113		4.28	%		361,253		3,939		4.34	%		320,015		3,589		4.51	%
Held to maturity ⁽²⁾		5,189		49		3.83	%		5,194		48		3.68	%		5,207		46		3.55	%
Total loans ⁽³⁾		3,079,224		45,621		6.01	%		3,059,786		46,374		6.03	%		3,018,423		45,547		6.07	%
Total interest-earning assets		3,683,827	$	52,362		5.76	%		3,749,688	$	54,581		5.79	%		3,723,624	$	54,819		5.92	%
Total noninterest-earning assets		260,508							244,609							246,341
Total average assets	$	3,944,335						$	3,994,297						$	3,969,965

Interest-bearing liabilities
NOW		61,222		321		2.13	%	$	53,879	$	254		1.88	%	$	58,946	$	298		2.03	%
Money market		463,443		3,625		3.17	%		463,850		3,735		3.20	%		411,751		3,526		3.44	%
Saving deposits		155,116		522		1.36	%		162,351		682		1.67	%		157,227		654		1.67	%
Time deposits, $250,000 and under		989,622		10,046		4.12	%		1,034,946		11,583		4.45	%		1,175,804		13,805		4.72	%
Time deposits, greater than $250,000		864,804		9,038		4.24	%		835,583		9,778		4.66	%		785,172		9,517		4.88	%
Total interest-bearing deposits		2,534,207		23,552		3.77	%		2,550,609		26,032		4.06	%		2,588,900		27,800		4.32	%
FHLB advances		176,833		989		2.27	%		200,000		886		1.76	%		150,000		439		1.18	%
Long-term debt		119,562		1,295		4.39	%		119,466		1,295		4.31	%		119,180		1,295		4.37	%
Subordinated debentures		15,175		337		9.01	%		15,121		365		9.60	%		14,957		384		10.33	%
Total interest-bearing liabilities		2,845,777		26,173		3.73	%		2,885,196		28,578		3.94	%		2,873,037		29,918		4.19	%
Noninterest-bearing liabilities
Noninterest-bearing deposits		520,145							539,900							528,346
Other noninterest-bearing liabilities		66,151							56,993							55,795
Total noninterest-bearing liabilities		586,296							596,893							584,141
Shareholders’ equity		512,262							512,208							512,787
Total liabilities and shareholders’ equity	$	3,944,335						$	3,994,297						$	3,969,965
Net interest income / interest rate spreads			$	26,189		2.03	%			$	26,003		1.85	%			$	24,901		1.73	%
Net interest margin						2.88	%						2.76	%						2.69	%

Total cost of deposits	$	3,054,352	$	23,552		3.13	%	$	3,090,509	$	26,032		3.35	%	$	3,117,246	$	27,800		3.59	%
Total cost of funds	$	3,365,922	$	26,173		3.15	%	$	3,425,096	$	28,578		3.32	%	$	3,401,383	$	29,918		3.54	%

(1	)	Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
(2	)	Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
(3	)	Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.

RBB BANCORP AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)

	At or for the Three Months Ended
	March 31,			December 31,			March 31,
	2025			2024			2024
Per share data (common stock)
Book value	$	28.77		$	28.66		$	27.67
Tangible book value ⁽¹⁾	$	24.63		$	24.51		$	23.68
Performance ratios
Return on average assets, annualized		0.24	%		0.44	%		0.81	%
Return on average shareholders’ equity, annualized		1.81	%		3.41	%		6.30	%
Return on average tangible common equity, annualized ⁽¹⁾		2.12	%		3.98	%		7.37	%
Noninterest income to average assets, annualized		0.24	%		0.27	%		0.34	%
Noninterest expense to average assets, annualized		1.90	%		1.76	%		1.72	%
Yield on average earning assets		5.76	%		5.79	%		5.92	%
Yield on average loans		6.01	%		6.03	%		6.07	%
Cost of average total deposits ⁽²⁾		3.13	%		3.35	%		3.59	%
Cost of average interest-bearing deposits		3.77	%		4.06	%		4.32	%
Cost of average interest-bearing liabilities		3.73	%		3.94	%		4.19	%
Net interest spread		2.03	%		1.85	%		1.73	%
Net interest margin		2.88	%		2.76	%		2.69	%
Efficiency ratio ⁽³⁾		65.09	%		61.48	%		60.07	%
Common stock dividend payout ratio		123.08	%		64.00	%		37.21	%

(1	)	Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
(2	)	Total deposits include non-interest bearing deposits and interest-bearing deposits.
(3	)	Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.

RBB BANCORP AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
*(Dollars in thousands)*

	At or for the quarter ended
	March 31,			December 31,			March 31,
	2025			2024			2024
Credit Quality Data:
Special mention loans	$	64,279		$	65,329		$	20,580
Special mention loans to total loans		2.05	%		2.14	%		0.68	%
Substandard loans HFI	$	76,372		$	89,141		$	57,170
Substandard loans HFS	$	—		$	11,195		$	—
Substandard loans HFI to total loans HFI		2.43	%		2.92	%		1.89	%
Loans 30-89 days past due, excluding nonperforming loans	$	5,927		$	22,086		$	20,950
Loans 30-89 days past due, excluding nonperforming loans, to total loans		0.19	%		0.72	%		0.69	%
Nonperforming loans HFI	$	60,380		$	69,843		$	35,935
Nonperforming loans HFS	$	—		$	11,195		$	—
OREO	$	4,170		$	—		$	1,071
Nonperforming assets	$	64,550		$	81,038		$	37,006
Nonperforming loans HFI to total loans HFI		1.92	%		2.29	%		1.19	%
Nonperforming assets to total assets		1.61	%		2.03	%		0.95	%

Allowance for loan losses	$	51,932		$	47,729		$	41,688
Allowance for loan losses to total loans HFI		1.65	%		1.56	%		1.38	%
Allowance for loan losses to nonperforming loans HFI		86.01	%		68.34	%		116.01	%
Net charge-offs	$	2,643		$	2,006		$	184
Net charge-offs to average loans		0.35	%		0.26	%		0.02	%

Capital ratios ⁽¹⁾
Tangible common equity to tangible assets ⁽²⁾		11.10	%		11.08	%		11.56	%
Tier 1 leverage ratio		12.07	%		11.92	%		12.16	%
Tier 1 common capital to risk-weighted assets		17.87	%		17.94	%		19.10	%
Tier 1 capital to risk-weighted assets		18.45	%		18.52	%		19.72	%
Total capital to risk-weighted assets		24.41	%		24.49	%		25.91	%

(1	)	March 31, 2025 capital ratios are preliminary.
(2	)	Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.

RBB BANCORP AND SUBSIDIARIES
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)

Loan Portfolio Detail	As of March 31, 2025					As of December 31, 2024						As of March 31, 2024
*(dollars in thousands)*	$			%		$			%			$			%
Loans:
Commercial and industrial	$	135,538		4.3	%	$	129,585			4.2	%	$	121,441			4.0	%
SBA		50,651		1.6	%		47,263			1.5	%		54,677			1.8	%
Construction and land development		158,883		5.1	%		173,290			5.7	%		198,070			6.5	%
Commercial real estate ⁽¹⁾		1,245,402		39.6	%		1,201,420			39.3	%		1,178,498			38.9	%
Single-family residential mortgages		1,545,822		49.2	%		1,494,022			48.9	%		1,463,497			48.4	%
Other loans		6,767		0.2	%		7,650			0.4	%		11,178			0.4	%
Total loans ⁽²⁾	$	3,143,063		100.0	%	$	3,053,230			100.0	%	$	3,027,361			100.0	%
Allowance for loan losses		(51,932	)				(47,729	)					(41,688	)
Total loans, net	$	3,091,131				$	3,005,501					$	2,985,673

(1	)	Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.
(2	)	Net of discounts and deferred fees and costs of $808, $488, and $474 as of March 31, 2025, December 31, 2024, and March 31, 2024, respectively.

Deposits	As of March 31, 2025				As of December 31, 2024					As of March 31, 2024
*(dollars in thousands)*	$		%		$		%			$		%
Deposits:
Noninterest-bearing demand	$	528,205	16.8	%	$	563,012		18.3	%	$	539,517		17.8	%
Savings, NOW and money market accounts		721,216	22.9	%		663,034		21.5	%		642,840		21.2	%
Time deposits, $250,000 and under		863,962	27.5	%		882,438		28.6	%		901,738		29.8	%
Time deposits, greater than $250,000		870,708	27.8	%		827,854		26.8	%		746,611		24.7	%
Wholesale deposits ⁽¹⁾		158,537	5.0	%		147,451		4.8	%		197,623		6.5	%
Total deposits	$	3,142,628	100.0	%	$	3,083,789		100.0	%	$	3,028,329		100.0	%

)

Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

Non-GAAP Reconciliations

Tangible Book Value Reconciliations

Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of March 31, 2025, December 31, 2024, and March 31, 2024.


*(dollars in thousands, except share and per share data)*	March 31, 2025			December 31, 2024			March 31, 2024
Tangible common equity:
Total shareholders’ equity	$	510,306		$	507,877		$	513,986
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(1,839	)		(2,011	)		(2,594	)
Tangible common equity	$	436,969		$	434,368		$	439,894
Tangible assets:
Total assets-GAAP	$	4,009,400		$	3,992,477		$	3,878,006
Adjustments
Goodwill		(71,498	)		(71,498	)		(71,498	)
Core deposit intangible		(1,839	)		(2,011	)		(2,594	)
Tangible assets	$	3,936,063		$	3,918,968		$	3,803,914
Common shares outstanding		17,738,628			17,720,416			18,578,132
Common equity to assets ratio		12.73	%		12.72	%		13.25	%
Tangible common equity to tangible assets ratio		11.10	%		11.08	%		11.56	%
Book value per share	$	28.77		$	28.66		$	27.67
Tangible book value per share	$	24.63		$	24.51		$	23.68

Return on Average Tangible Common Equity

Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

	Three Months Ended
*(dollars in thousands)*	March 31, 2025			December 31, 2024			March 31, 2024
Net income available to common shareholders	$	2,290		$	4,385		$	8,036
Average shareholders’ equity		512,262			512,208			512,787
Adjustments:
Average goodwill		(71,498	)		(71,498	)		(71,498	)
Average core deposit intangible		(1,951	)		(2,129	)		(2,726	)
Adjusted average tangible common equity	$	438,813		$	438,581		$	438,563
Return on average common equity, annualized		1.81	%		3.41	%		6.30	%
Return on average tangible common equity, annualized		2.12	%		3.98	%		7.37	%

The MIL Network –

April 29, 2025

MIL-Evening Report: Here’s how to make your backyard safer and cooler next summer
Source: The Conversation (Au and NZ) – By Pui Kwan Cheung, Research Fellow in Urban Microclimates, The University of Melbourne

Varavin88, Shutterstock

Our backyards should be safe and inviting spaces all year round, including during the summer months.

But the choices we make about garden design and maintenance, such as whether to have artificial turf or real grass for a lawn, can have serious consequences. Children, elderly people and pets are particularly susceptible to burns from contact with artificial turf on a hot day.

Watering your lawn or planting a shady tree can also dramatically change how hot your backyard feels in summer. Ultimately, these factors will influence how much time you and your family spend outside.

No matter where in the world you live, it is never too late to find out how to make your backyard safer and cooler next summer.

The case against artificial turf

Artificial turf or synthetic grass, commonly used on sports fields, has become popular in private outdoor spaces such as backyards.

People may think it’s cheaper and easier to maintain than real turf. Perhaps they like the idea of saving water and having the look of lawn without the hassle of mowing and fertilising it.

But this type of plastic surface is known to become very hot on a sunny day.

We wanted to find out just how hot artificial turf can get in a suburban backyard over summer.

So we set up an experiment to compare the temperatures of artificial turf, dry natural turf, and watered natural turf in Melbourne. We took surface temperature measurements continuously for 51 days during the summer of 2023–24.

The research was part of a project demonstrating the benefits of green space in residential properties. The project received funding from Horticulture Innovation Australia, a grower-owned not-for-profit research and development corporation. That funding, in part, came from three water authorities.

Thermal imaging reveals artificial turf is hotter than natural turf on a hot sunny day.
Pui Kwan Cheung

Feeling the heat

In adults, irreversible burns occur when the skin is in contact with a surface that is 48°C or hotter for ten minutes.

The temperature needed to cause skin burns in children is approximately 2°C lower, because their skin is thinner and more sensitive.

Contact skin burns due to the high surface temperature of artificial turf has been identified as a health risk.

In our latest research, the artificial turf reached a scorching 72°C, which is sufficient to cause irreversible skin burns in just ten seconds. In contrast, the real turf was never hot enough to cause such burns (maximum temperature of 39°C).

Over the course of our experiment, the artificial turf was hot enough to cause adults irreversible skin burns for almost four hours a day. While adults might be expected to move away from the heat before it burns, vulnerable people such as babies and the elderly, as well as pets, are most at risk because they may be unable to move away.

We also took measurements in real backyards on a hot sunny summer’s day. We compared the risk of skin burns on four different surfaces: artificial turf, mulch, timber and real turf. The only surface that did not get hot enough to cause skin burns in adults was real turf.

Watering the grass can cool your backyard in more ways than one.
Stephen Livesley

Why should I water the lawn?

Grass and other plants release water vapour from little holes in their leaves into the atmosphere. This process helps the plant maintain a liveable leaf temperature on a hot day, but it also cools the air around the leaves.

It is a good idea to water your lawn throughout summer for two reasons:
1. well-watered lawn is healthier, stays green for longer, and has more leaves to release water vapour into the air (“transpire”).
2. more water is available to evaporate from the soil and leaves, adding to the cooling effect.
If you’re worried about wasting drinking water on your lawn, you can install a rainwater tank or household water recycling plant. Having access to alternative water sources will become increasingly important as the world warms and the climate dries.

More shade will cool your backyard.
Stephen Livesley

What about shade?

The most effective way to make you feel cooler in your backyard is to provide adequate shade. This reduces the amount of sun energy hitting your body or the ground, heating the surface and warming the surrounding air.

A single tree can lower the level of heat stress from extreme to moderate. This may be the difference between wanting to spend time outside on a hot day and avoiding your backyard altogether.

Even small trees can still make you feel cooler, if they provide some shade.

However, too-dense tree canopy cover may prevent air flow – so there is a happy medium. Air flow is necessary to move the heat away from your backyard and cool your body down.

Taking all the above measures will keep your backyard safe and cool throughout summer. This will allow you and your family to spend more quality time in your backyard, cool your home, and improve your quality of life.

Pui Kwan Cheung receives funding from Horticulture Innovation Australia (Hort Innovation) for the research project “demonstrating the benefits of increasing available green infrastructure in residential homes”, which is relevant to this article.
The project involves co-investment from South East Water, Greater Western Water, Yarra Valley Water, the Department of Energy, Environment and Climate Action (Victoria), Department of Planning, Housing and Infrastructure (New South Wales), The University of Melbourne, and the Australian Government. Hort Innovation is the grower-owned, not-for-profit research and development corporation for Australian horticulture.

Stephen Livesley receives funding from Horticulture Innovation Australia, the Australian Research Council and various water authorities.

– ref. Here’s how to make your backyard safer and cooler next summer – https://theconversation.com/heres-how-to-make-your-backyard-safer-and-cooler-next-summer-254928
MIL OSI Analysis – EveningReport.nz –
April 29, 2025
MIL-Evening Report: How ICE is becoming a secret police force under the Trump administration
Source: The Conversation (Au and NZ) – By Lee Morgenbesser, Associate Professor, School of Government and International Relations, Griffith University

Secret police are a quintessential feature of authoritarian regimes. From Azerbaijan’s State Security Service to Zimbabwe’s Central Intelligence Organisation, these agencies typically target political opponents and dissidents through covert surveillance, imprisonment and physical violence.

In contrast to the regular police and armed forces, secret police primarily use preemptive repression to thwart threats to the government.

In Nazi Germany, for example, Gestapo informants penetrated all levels of society, producing an atmosphere of distrust among those against Adolf Hitler. In Uganda, Idi Amin’s State Research Bureau employed sophisticated spying equipment and intercepted mail at the post office to root out supposed saboteurs.

In Syria, Bashar al-Assad relied on the General Intelligence Directorate to oversee a network of torture centres. And in Venezuela, Nicolás Maduro has used the Bolivarian National Intelligence Service (Sebin) to spy on opponents overseas, often running operations out of diplomatic missions.

Since US President Donald Trump took power in January, Immigration and Customs Enforcement (ICE) has become a far more visible and fearsome force on American streets.

Though ICE is ostensibly still bound by constitutional limits, the way it has been operating bears the hallmarks of a secret police force in the making.

As an expert on authoritarian regimes, I’ve studied historical and contemporary secret police forces extensively across Africa, Asia and Europe. They typically meet five criteria:
- they’re a police force targeting political opponents and dissidents
- they’re not controlled by other security agencies and answer directly to the dictator
- the identity of their members and their operations are secret
- they specialise in political intelligence and surveillance operations
- they carry out arbitrary searches, arrests, interrogations, indefinite detentions, disappearances and torture.
How close is ICE to becoming a secret police force? Let’s consider each of these criteria.

Targeting dissidents

ICE has used the pretext of combating antisemitism to target dissidents. A branch of the agency previously used to target drug smugglers and human traffickers has reportedly been directed to scan social media for posts sympathetic to Hamas.

On March 8, ICE arrested the prominent pro-Palestinian activist Mahmoud Khalil, a legal resident. It was a similar story for Rumeysa Ozturk, a university student grabbed off the street on March 25 by ICE agents.

Trump has cited the Immigration and Nationality Act of 1952 as the legal pretext for ICE’s actions in these cases and others. The law allows the US government to deport anyone whose presence has “adverse foreign policy consequences” for the country.

Because Khalil and others are being targeted for their activism, legal scholars say the government appears to be “retaliating” against constitutionally protected free speech it disagrees with.

Directly controlled by a dictator

While ICE does not report directly to Trump, the agency is controlled by people who have shown intense loyalty to him.

ICE is part of the Department of Homeland Security, which is overseen by stalwart Trump ally Kristi Noem. She is supported by Tom Homan, a former ICE director who Trump appointed as his “border czar” in November 2024.

Despite a court order barring the deportations of alleged Venezuelan gang members to a prison in El Salvador, Homan has remained defiant:

We are not stopping. I don’t care what the judges think.

The pertinent question now is whether Noem or Homan would refuse to follow a dictate from Trump in the face of a direct court order.

Opaque operations

ICE agents are increasingly operating in secret. The individuals who took Ozturk off the street in a widely shared video claimed to be police officers, even though they were in plain clothes and face marks.

Similarly, ICE agents in plain clothes detained two men during a raid on a courthouse in Charlottesville, Virginia, on April 22. When two bystanders asked to see a warrant, they were ordered not to “impede” the agents’ lawful duties. ICE later said the two women would be prosecuted.

Also last week, ICE agents attempted to arrest a man at a Wisconsin courthouse without a warrant. After a judge intervened, she was arrested herself by the FBI and charged with two felonies.

This shroud of opacity has been accompanied by an end to local agency liaison meetings aimed at helping people seek answers to ICE’s actions.

Surveillance capabilities

ICE is organised into two distinct law enforcement components, giving it both political intelligence gathering and surveillance capabilities.

Its Homeland Security Investigations arm includes an intelligence division, while its Enforcement and Removal Operations arm uses third-party companies such as Geo Group, Giant Oak, and Palantir to conduct mass surveillance.

Most worryingly, ICE is trying to procure greater intelligence and surveillance capabilities by soliciting pitches from private companies to monitor threats across the internet.

According to a procurement document, contractors would be directed to focus on the backgrounds of social media users and use facial recognition capabilities to gather information on people. Criticisms of ICE itself would be monitored, too.

Unlawful policing

There has been a stream of reports exposing how ICE is conducting arbitrary searches, arrests, interrogations, and indefinite detentions.

Some of the most egregious reported examples include:
- entering primary schools under false pretences in search of undocumented students
- carrying out “collateral arrests”, that is detaining people not previously identified as targets during operations
- detaining tourists and visa holders for weeks for unknown reasons
- and disappearing US citizens without any meaningful process.
Since Trump’s inauguration, at least three people have died in ICE detention facilities, the latest in a string of fatalities in recent years.

Prolonged solitary confinement is reportedly widespread. UN experts say this can amount to torture.

Potentially expanded scope

Overall, the evidence shows ICE meets most of the criteria for being a secret police force. It has yet to target political opponents, which I define narrowly as members of the Democratic Party. And it is not directly controlled by Trump, although the current structure provides him with plausible deniability.

While the agency is far from resembling history’s most feared secret police forces, there have so far been few constraints on how it operates.

The worst may be yet to come. A budget bill making its way through Congress would provide ICE with up to US$175 billion (A$274 billion) in funding over the next decade. (Its current annual budget is US$9 billion, or A$14 billion.) This would supercharge its use of surveillance, imprisonment and physical violence.

When combined with a potential shift towards targeting US citizens for dissent and disobedience, ICE is fast becoming a key piece in the repressive apparatus of American authoritarianism.

Lee Morgenbesser 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. How ICE is becoming a secret police force under the Trump administration – https://theconversation.com/how-ice-is-becoming-a-secret-police-force-under-the-trump-administration-255019
MIL OSI Analysis – EveningReport.nz –
April 29, 2025
MIL-OSI: Rigetti Computing to Report First Quarter 2025 Financial Results and Host Conference Call on May 12, 2025

Source: GlobeNewswire (MIL-OSI)

BERKELEY, Calif., April 28, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (“Rigetti” or the “Company”) (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release first quarter 2025 results on May 12, 2025 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day.

Key details regarding the call are as follows:

Call Date: Monday, May 12, 2025
Call Time: 5:00 p.m. ET / 2:00 p.m. PT
Webcast Link: https://edge.media-server.com/mmc/p/5w8qggnn/
Live Call Participant Link: https://register-conf.media-server.com/register/BIa01e2c81dc8f4031b25c1ce89653b15e

Webcast Instructions
You can listen to a live audio webcast of the conference call by visiting the “Webcast Link” above or the “Events & Presentations” section of the Company’s Investor Relations website at https://investors.rigetti.com/. A replay of the conference call will be available at the same locations following the conclusion of the call for one year.

Live Call Participant Instructions
To participate in the live call, you must register using the “Live Call Participant Link” above. Once registered, you will receive dial-in numbers and a unique PIN number. When you dial in, you will input your PIN and be routed into the call. If you register and forget your PIN, or lose the registration confirmation email, simply re-register to receive a new PIN.

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 www.rigetti.com.

Rigetti Computing Media Contact:
press@rigetti.com
Rigetti Computing Investor Relations Contact:
IR@Rigetti.com

The MIL Network –

April 29, 2025

Category: housing

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Notes to editors

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The case against artificial turf

Feeling the heat

Why should I water the lawn?

What about shade?

Targeting dissidents

Directly controlled by a dictator

Opaque operations

Surveillance capabilities

Unlawful policing

Potentially expanded scope