NewzIntel.com

Category: Justice

  • MIL-OSI Security: Chilton County Man Sentenced to 25 Years in Federal Prison for Illegally Possessing a Firearm He Used in a Shooting

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

                Montgomery, Ala. – Today, Acting United States Attorney Kevin Davidson announced the sentencing of a Chilton County, Alabama man for possession of a firearm by a convicted felon. On October 23, 2024, a federal judge ordered that 57-year-old Alvin Lee McCary, serve 300 months in prison. A jury found McCary guilty of illegally possessing a firearm following a trial in March of this year. Federal inmates are not eligible for parole.

                According to court records and evidence presented during McCary’s trial, on July 22, 2020, McCary had an argument with another individual at a residence in Clanton, Alabama. The argument escalated and McCary retrieved a shotgun. Witness reported that McCary shot the victim and then fled. When searching McCary’s residence, investigators eventually discovered a shotgun and ammunition at the bottom of a well adjacent to the property. McCary has previous felony convictions and is prohibited by federal law from possessing a firearm or ammunition.

                This case was prosecuted as part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and make our neighborhoods safer for everyone. The Department of Justice reinvigorated PSN in 2017 as part of the Department’s renewed focus on targeting violent criminals, directing all U.S. Attorney’s Offices to work in partnership with federal, state, local, and tribal law enforcement, and the local community to develop effective, locally based strategies to reduce violent crime.

                The Bureau of Alcohol, Tobacco, Firearms and Explosives and the Chilton County Sheriff’s Office investigated this case, which Assistant United States Attorneys Mark E. Andreu and Ashley J. Avera prosecuted. 

    MIL Security OSI –

  • MIL-OSI Security: Grafton, Vermont Man Charged with Illegal Possession of a Firearm

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

    Burlington, Vermont – The United States Attorney’s Office stated that Terry Russ, 42, of Grafton, Vermont, has been charged by criminal complaint with possessing a firearm, knowing that he had previously been convicted of a felony.

    On October 23, 2024, Russ appeared before United States Magistrate Judge Kevin J. Doyle, who ordered that Russ be detained during the pendency of this matter.

    According to court records, a search warrant was executed at Russ’s residence in Grafton on October 22, 2024. During execution of the search warrant, law enforcement recovered three firearms from the bedroom Russ had identified as his. An on-and-off housemate of Russ’s, who was also present, stated that he had purchased cocaine base and fentanyl/heroin from Russ in Russ’s bedroom and that Russ displayed a silver pistol next to the drugs he was selling. The housemate’s description of the silver pistol’s appearance was consistent with that of one of the firearms recovered from Russ’s bedroom.

    The United States Attorney’s Office emphasizes that the complaint contains allegations only and that Russ is presumed innocent until and unless proven guilty. Russ faces up to 15 years in prison if convicted. The actual sentence, however, would be determined by the District Court with guidance from the advisory United States Sentencing Guidelines and the statutory sentencing factors.

    United States Attorney Nikolas P. Kerest commended the investigatory efforts of the Bureau of Alcohol, Tobacco, Firearms, and Explosives, the Vermont State Police, and the Springfield, Massachusetts Police Department.

    The prosecutor is Assistant United States Attorney Corinne Smith. Russ is represented by Robert Behrens, Esq.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

    MIL Security OSI –

  • MIL-OSI Banking: Website investment-pte.com: BaFin warns about Investment PTE LTD and Performance Investment PTE LTD

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about Investment PTE LTD and Performance Investment PTE LTD and the services they are offering. BaFin suspects these operators of the website investment-pte.com of offering consumers financial and investment services without the required authorisation.

    The operators of the website appeal under the name Investment PTE LTD and Performance Investment PTE LTD. They claim to have their registered office in Singapore and to be regulated in St Vincent and the Grenadines. However, there is no supervision of the operator in this country.

    Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Global Banks –

  • MIL-OSI Banking: capital-imc.net: BaFin investigates the company IMC-Capital Ltd

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the company IMC-Capital Ltd and the services it is offering. BaFin has information that the company is offering banking business and/or financial services on its website capital-imc.net without the required authorisation. The company is not supervised by BaFin.

    Financial services may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this. However, some companies offer these services without the required authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Global Banks –

  • MIL-OSI Security: Summerside — JFO arrest man and woman for possession for the purpose of trafficking cocaine

    Source: Royal Canadian Mounted Police

    October 24, Summerside PEI – On October 23rd, 2024 in the early evening, Prince District JFO, with the assistance of Summerside Police made a targeted stop of a car in Summerside. A 30-year-old Kensington area man and 32-year-old Kensington area woman were arrested for possession for the purpose of trafficking cocaine. A search of the vehicle located a small quantity of what is believed to be cocaine. This investigation is ongoing.

    The Prince District Joint Forces Operations (JFO) is a stand-alone drug enforcement unit comprised of members of the Prince District RCMP, Summerside Police Services, and Kensington Police Services.

    If you have information about drugs in your community please contact your local police detachment.

    MIL Security OSI –

  • MIL-OSI United Kingdom: New reforms to boost confidence in police accountability system

    Source: United Kingdom – Executive Government & Departments

    Confidence in the police, and in the systems that hold them to account, will be boosted under a package of reforms announced by the Home Secretary.

    The announcement will reassure both the police and the public that the system of vetting and accountability is working.

    It will tackle delays in investigations, ensuring the complexity of specialist police roles are considered from the outset, and introduce stronger vetting processes so the highest standards are always upheld and maintained.

    This follows the long-awaited accountability review and draws on findings of the reviews undertaken by Dame Louise Casey and Lady Elish Angiolini.

    In a statement to Parliament, Yvette Cooper set out the government’s mission to put confidence back into policing, ensuring both that the police have the confidence of the communities they serve, and that officers have the confidence they need to do the vital job of keeping people safe.  

    She set out new measures that will be taken forward in response to the accountability review started under the previous government, including:

    • a presumption of anonymity for firearms officers facing criminal proceedings following police shootings, up until the point of a conviction
    • raising the threshold for the Independent Office for Police Conduct (IOPC) to refer police officers to the Crown Prosecution Service (CPS), so that only cases that have a reasonable prospect of conviction are referred – as is already the test for members of the public suspected of committing a crime
    • a rapid independent review to consider the legal test for use of force in misconduct proceedings and the threshold for unlawful killing in inquests
    • an examination by the Director of Public Prosecutions of CPS guidance and processes in relation to charging police officers for offences committed in the course of their duties
    • the creation of a national lessons-learned database for deaths or serious injuries following police contact or pursuits to ensure findings are incorporated into future training and guidance
    • placing the IOPC victims’ right to review policy on a statutory footing

    The Home Secretary also announced reforms to address fundamental flaws in police vetting and misconduct processes, including delivering on key manifesto commitments. These will:

    • for the first time, place vetting standards on a statutory footing
    • empower chief constables to promptly dismiss officers who fail their vetting
    • strengthen requirements relating to the suspension of officers under investigation for violence against women and girls
    • ensure officers convicted of certain criminal offences are automatically found to have committed gross misconduct and create a presumption of dismissal in gross misconduct cases

    The Home Secretary set out these reforms to address concerns held by police, local communities and the families of those impacted by police use of force. 

    As well as legislating for a presumption of anonymity, ministers will take forward 3 measures set out by the previous government. These will align the threshold for IOPC referrals of officers to the CPS to that used by police for members of the public, accelerate processes by allowing the IOPC to send cases to the CPS prior to their final investigation report where there is sufficient evidence, and place the victims’ right to review policy for IOPC decisions on a legislative footing to ensure the voices for victims and bereaved families are heard.

    The Home Office and Ministry of Justice have also appointed 2 independent reviewers, Tim Godwin OBE QPM and Sir Adrian Fulford PC, to undertake a rapid review of the legal test for use of force in misconduct cases, and the threshold for determining unlawful killing in coronial inquests, to bring greater clarity and prevent delays in the accountability system following recent legal rulings.

    The Attorney General has also requested that the Director of Public Prosecutions (DPP) reviews CPS guidance and processes in relation to charging police officers for offences committed in the course of their duties, reflecting the complexity of specialist roles.

    Home Secretary Yvette Cooper said:

    The British tradition of policing by consent relies on mutual bonds of trust between the public and the police. For our policing model to work, it is essential that the police have the confidence of the communities they serve and that officers have the confidence they need to do their vital and often extremely difficult job of keeping us all safe.

    Too often in recent times, both elements of that confidence have become frayed. The government have made it a mission to put confidence back into policing.

    The measures I have outlined are practical steps to rebuild confidence, tackle delays, provide clarity and ensure that high standards are maintained. The government is determined to take the necessary action to strengthen public confidence in the police, and to strengthen the confidence of the police when they are out on the street every day, doing the difficult job of keeping us all safe.

    Chief Constable Simon Chesterman, the National Police Chiefs’ Council lead for Armed Policing, said:

    Police officers are not above the law, and nobody expects them to be, but the system that holds officers to account when they use force to protect the public, their colleagues and themselves, has become broken.

    We are supportive of the Home Secretary’s announcement and welcome their commitment to getting it right for officers and the public they serve and improving overall policing standards.

    The ongoing work on the accountability review now has momentum to continue and is a real opportunity to get the balance right in the interests of the public we are here to protect.

    We are proud to have the most restrained and professional armed officers in the world, but increasingly they are more afraid of going to prison for doing their jobs, than facing the violent and dangerous individuals we rely on them to protect us from.

    “Good police officers need to know that if they do what they are trained to do, they will be supported by the leaders of the police service, government and most importantly the public. > > We remain determined to get police accountability right and we will support government to address concerns about the current accountability system to restore the confidence of police officers and the public.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Security: Met Police and modern slavery charity work to protect victims of exploitation

    Source: United Kingdom London Metropolitan Police

    Met Police and modern slavery charity work to protect victims of exploitation

    The Metropolitan Police and Justice & Care have jointly worked to pursue the conviction of prolific sex trafficker Roland Cankaj to protect multiple victims of exploitation.

    Roland Cankaj, 43 (19.03.1981) of Western Gateway, Tower Hamlets, E16 appeared at Croydon Crown Court on Wednesday, 23 October where he was found guilty of multiple exploitation offences following a six day trial.

    The Met’s modern slavery team launched an investigation into an organised crime network named the ‘Cankaj Brotherhood’ in 2022 with intelligence leading to a group trafficking Brazilian women into the UK to be sexually exploited.

    The detailed investigation showed Cankaj renting an apartment in Tower Hamlets under a false passport. Officers begun to observe Cankaj’s movements and saw him drive young women to addresses and waiting outside in the car while the women went inside. He was also seen to be in the company of young women, taking provocative pictures of them outside London landmarks which were used to advertise sexual services. A brothel in Tower Hamlets, run by Cankaj, was uncovered – the rooms were sparsely furnished and contained items associated with sex work.

    As a result of the officer’s work, a total of six victims were identified and the Met worked closely with Justice & Care, the modern slavery charity, to support them.

    During an interview, one victim explained how she had worked as a beautician in Brazil and got into conversation with Cankaj about money. He arranged for her to come to the UK and moved her between various addresses to have sex with men she didn’t know before taking half the money – sometimes 10 to 15 men a day.

    As part of A New Met for London, the Met is doing more to support communities and people who’ve had their trust damaged. Officers are working to protect women and children from violence and exploitation and pursuing the predatory men who commit those crimes. Through targeted operations and partnerships with community organisations, the Met is working to create safer environments for women and girls across London.

    Detective Sergeant Andy Owen, who led the investigation, said:

    “Cankaj tricked these women into a false sense of security, making them believe that this exploitation was a way of them gaining financial freedom. In fact, he was the one financially benefitting, making a career out of orchestrating prostitution with vulnerable victims.

    “This was a complex investigation led by the Met and I am pleased our work has led to justice for these women. The key to our success was building the victim’s trust in the police -Justice & Care were integral in achieving this, providing support to these women who had spent years being exploited and ensuring they felt safe and supported to share their stories.

    “The Met are dedicated to protecting vulnerable people – we rely on information from our communities to continue tackling exploitation and modern slavery in London. If you’re suspicious about possible exploitation in your area, or you’re concerned about someone who may be a victim, please contact us.”

    Julie Currie, Victim Navigator Programme Coordinator at Justice & Care, who supported one of the victims said:

    ”We are proud to support the survivor to bring her trafficker to justice, and commend her bravery in supporting this case.

    “As this case shows, modern slavery is brutal and it is everywhere – with an estimated 122,000 victims currently trapped in exploitation in the UK.

    “Our Navigators are deployed into the heart of the Metropolitan Police, and many other police forces across the UK, and are often there from the moment a potential victim is identified to help them feel safe.

    “They work helping survivors to start to rebuild their lives and support them to engage with the criminal justice process.

    “This case is just one example of the incredible partnership between Justice and Care and the Metropolitan Police.

    ”Every member of the public can help us stop this crime by learning the signs of modern slavery and reporting concerns to police.”

    For more information and advice around spotting the signs of exploitation, visit: Human trafficking | Metropolitan Police

    Charges

    Cankaj was arrested on 20 April 2024 at London Stansted Airport and was subsequently charged with:

    • Two counts of arranging or facilitating travel of another person with a view of exploitation
    • Fraud by false representation
    • Possession of a controlled article for use in fraud

    He pleaded guilty to fraud by false representation and keeping a brothel for use in prostitution.

    He was found guilty on Wednesday, 23 October at Croydon Crown Court of arranging or facilitating the travel of another person with a view to exploitation.

    MIL Security OSI –

  • MIL-OSI Security: Prince Albert — Prince Albert RCMP warning the public of dangerous persons

    Source: Royal Canadian Mounted Police

    Prince Albert RCMP is warning the public of dangerous persons involved in multiple vehicle robberies involving a firearm.

    On October 24, 2024 at approximately 8:30 a.m., Prince Albert RCMP received a report of a robbery north of Prince Albert, SK.

    Initial investigation determined that an individual was in a vehicle driving near the White Star elevator north of Prince Albert, SK when they were approached by multiple males in a vehicle.

    The individual was shot by the suspects. They have been transported to hospital with unknown injuries. The suspects stole the individual’s vehicle.

    The suspects are described as three or four males. They may be wearing black bandanas or black balaclavas. The suspects are believed to be armed with a gun and considered dangerous.

    They may be driving a white 2020 Dodge Ram with Saskatchewan license plate RNF 50. (Yes, there are only 5 characters.)

    The suspects are believed to be travelling near the intersection of Highways #55 and #123 near Prince Albert.

    More information to come. If in the Prince Albert and surrounding area: seek immediate shelter or shelter in place and close and lock doors and windows. Do not leave a secure location. Be cautious of someone asking for a ride. Do not pick up hitch hikers. Do not disclose police locations. Be cautious if not in the immediate described areas.

    The situation is rapidly unfolding and we will provide updates as soon as possible.

    MIL Security OSI –

  • MIL-OSI Security: Musquodoboit Harbour — RCMP Halifax Regional Detachment confirms weapons-related threats at school to be unfounded

    Source: Royal Canadian Mounted Police

    RCMP Halifax Regional Detachment determined that threats to a school were unfounded, and were in fact related to a planned event involving foam dart guns.

    On October 23, at approximately 8:30 a.m., officers attended a school in Musquodoboit Harbour related to a report that a student made threats involving a weapon. The student was detained upon arrival at the school and was not in possession of weapons.

    Further investigation found that the comments perceived as threats were related to an upcoming event involving foam dart guns. The student was released by police and there will be no charges.

    The Nova Scotia RCMP takes school safety concerns seriously, and threats of violence are investigated thoroughly. Anyone with information or knowledge of threats to school communities is asked to contact their local police or 911 in an emergency so police can establish if a threat is credible. To remain anonymous, call Nova Scotia Crime Stoppers, toll-free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips app.

    MIL Security OSI –

  • MIL-OSI USA: Wexton Announces $40 Million in Federal Infrastructure Law Funding for New Dulles Airport Terminal Project

    Source: United States House of Representatives – Congresswoman Jennifer Wexton (D-VA)

    Washington, DC – Today, Congresswoman Jennifer Wexton (D-VA) announced a new $40 million grant from the Bipartisan Infrastructure Law’s Airport Terminals Program (ATP) to aid in the construction of Washington Dulles International Airport’s new 14-gate regional and commuter terminal. This is the fourth consecutive fiscal year that the new terminal project has received funding through the Bipartisan Infrastructure Law, after receiving $49.6 million in 2022, $20 million in 2023, and $35 million in 2024.

    “I’m proud that our Bipartisan Infrastructure Law is once again delivering critical funding that will help grow and enhance travel and economic activity here in Virginia’s 10th District at Dulles Airport,” said Congresswoman Wexton. “Today’s announcement brings the total to more than $144 million in federal funds to make this new terminal project a reality. A top priority for the airport, it will save passengers’ time, reduce crowding, and make the passenger experience smoother and more convenient. The investments we’ve made through this historic infrastructure law continue to have an impact in our community and local economy that will have benefits for generations to come.”

    The new terminal will be conveniently located atop the underground Concourse C/D Aerotrain station, providing quick and easy access to passengers and reducing transit times for passengers with connections at Dulles who must currently use shuttle buses or long walkways. The new terminal will allow for jet bridge boarding that reduces boarding times and is more accessible for passengers with disabilities, rather than forcing passengers to board using outdoor covered walkways and aircraft stairs. It will be nearly four times larger than the current facility, which will reduce crowding, allow for expanded concessions and passenger amenities, and create additional space for operational areas, offices, aircraft servicing, and baggage handling.

    The new regional and commuter terminal project will also improve Dulles’s environmental footprint, as the proposed new facility will be built to LEED Silver Certifiable standards. Environmental improvements include support for electric aircraft servicing vehicles and the use of modern energy efficient construction methods and materials.

    The Airport Terminals Program, established by the Bipartisan Infrastructure Law which Wexton voted to pass in 2021, provides $1 billion in grants annually for five years to address aging infrastructure at our nation’s airports.

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    MIL OSI USA News –

  • MIL-OSI USA: Rep. Sewell Announces $43.7 Million for Water Infrastructure in Alabama

    Source: United States House of Representatives – Congresswoman Terri Sewell (AL-07)

    Birmingham, AL – Today, U.S. Rep. Terri Sewell (AL-07) announced that the U.S. Environmental Protection Agency (EPA) is investing $3.6 billion in new funding under the Biden-Harris Administration’s Bipartisan Infrastructure Law to upgrade our nation’s water infrastructure, including $43.7 million for the State of Alabama. This funding will help communities across Alabama upgrade water infrastructure that is essential to safely managing wastewater and drinking water in our homes, schools, and businesses.

    “I voted for the Biden-Harris Infrastructure Law because it promised to make the largest investment in wastewater and drinking water infrastructure in our nation’s history,” said Rep. Sewell. “Thanks to the Biden-Harris Administration, we are delivering on that promise. I am thrilled to announce that Alabama will receive over $43.7 million to help communities upgrade wastewater and drinking water infrastructure. Access to clean water is a basic human right, and this investment represents critical progress in our continued fight for equitable and safe wastewater systems. I thank President Biden and Vice President Harris for this historic investment, and I look forward to working with the State of Alabama to ensure these new resources reach the communities that need them most.” 

    “Water keeps us healthy, sustains vibrant communities and dynamic ecosystems, and supports economic opportunity. When our water infrastructure fails, it threatens people’s health, peace of mind, and the environment,” said EPA Administrator Michael S. Regan. “With the Bipartisan Infrastructure Law’s historic investment in water, EPA is working with states and local partners to upgrade infrastructure and address local challenges—from lead in drinking water, to PFAS, to water main breaks, to sewer overflows and climate resilience. Together, we are creating good-paying jobs while ensuring that all people can rely on clean and safe water.”

    The Bipartisan Infrastructure Law funds will flow through the Clean Water and Drinking Water State Revolving Funds (CWSRF and DWSRF), a long-standing federal-state water investment partnership. This multibillion-dollar investment will fund state-run, low-interest loan programs that address key challenges in financing water infrastructure. Today’s announcement includes allotments for Bipartisan Infrastructure Law Clean Water General Supplemental funds for Alabama ($27,824,000), Emerging Contaminant funds ($2,402,000), and ($13,490,000) under the Drinking Water Emerging Contaminant Fund.

    This funding is part of a five-year, $50 billion investment in water infrastructure through the Bipartisan Infrastructure Law – the largest investment in water infrastructure in American history. To ensure investments reach communities that need them the most, the Bipartisan Infrastructure Law mandates that most of the funding announced today must be provided to disadvantaged communities in the form of grants or loans that do not have to be repaid. 

    To read stories about how unprecedented investments in water from the Bipartisan Infrastructure Law are transforming communities across the country, visit EPA’s Investing in America’s Water Infrastructure Storymap. To read more about additional projects, see EPA’s recently released Quarterly Report on Bipartisan Infrastructure Law Funded Clean Water and Drinking Water SRF projects.

    For more information, including the state-by-state allocation of 2025 funding and a breakdown of EPA SRF funding available under the Bipartisan Infrastructure Law, please visit the Clean Water State Revolving Fund website and Drinking Water State Revolving Fund website. Additionally, the SRF Public Portal allows users to access data from both the Drinking Water and Clean Water SRF programs through interactive reports, dashboards, and maps.

    The State Revolving Fund (SRF) programs have been the foundation of water infrastructure investments for more than 30 years, providing low-cost financing for local projects across America. SRF programs are critically important programs for investing in the nation’s water infrastructure. They are designed to generate significant and sustainable water quality and public health benefits across the country. Their impact is amplified by the growth inherent in a revolving loan structure, in which payments of principal and interest on loans become available to address future needs.

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    MIL OSI USA News –

  • MIL-OSI Security: Two Former Georgia Deputies Plead Guilty to Violating Civil Rights of Jail Detainee

    Source: United States Attorneys General 11

    Two former Richmond County, Georgia, Sheriff’s Office deputies pleaded guilty yesterday to federal civil rights charges involving an assault on a jail detainee.

    Daniel D’Aversa, 52, and Melissa Morello, 28, pleaded guilty to an information charging both officers with one felony count of deprivation of civil rights under color of law.

    According to court documents, Morello was assigned as a jailer at Richmond County’s Charles D. Webster Detention Center, and D’Aversa was a corporal with the Richmond County Sheriff’s Office. On May 7, 2022, Morello and D’Aversa were working with other Richmond County Sheriff’s Office deputies to secure inmates who had caused flooding in a section of the jail. Fellow deputies deliberately removed the handcuffs of a compliant inmate and then proceeded to punch and kick him. Both Morello and D’Aversa pleaded guilty to failing to intervene or stop the assault on the inmate, who was not posing a threat to anyone at the time of the assault.

    U.S. District Court Judge J. Randal Hall will schedule sentencing for D’Aversa and Morello upon completion of pre-sentence investigations by U.S. Probation Services.

    Sentencing hearings will be set at a later date. Both D’Aversa and Morello face a maximum penalty of 10 years in prison, along with substantial fines and restitution, followed by up to three years of supervised release upon completion of any prison term. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and any other statutory factors.

    Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division, U.S. Attorney Jill E. Steinberg for the Southern District of Georgia and Acting Special Agent in Charge Sean Burke of the FBI Atlanta Field Office made the announcement.

    The FBI Atlanta Field Office is investigating the case.

    Assistant U.S. Attorney George J.C. Jacobs III for the Southern District of Georgia and Trial Attorney Anita T. Channapati of the Justice Department’s Civil Rights Division are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Respect for international law has never been more important: UK Statement in the UN General Assembly

    Source: United Kingdom – Executive Government & Departments 3

    Statement by Lord Richard Simon Hermer, Attorney General for England and Wales and Advocate General for Northern Ireland, in the UN General Assembly Plenary Debate on the International Court of Justice.

    Location:
    United Nations, New York
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    May I start by thanking President Salam for his leadership during what has been an exceptionally busy period for the Court. As today’s report highlights, the past year has seen a significant increase in the number of States involved in both contentious and advisory proceedings.  

    And I would like on behalf of the United Kingdom to express my gratitude to all Members of the Court and the Registry for their continued commitment to the sound administration of justice and the peaceful resolution of international disputes. Our thanks goes for their independence, for the quality of their judgement and for the central and vital role they play in our international rules-based order.

    The United Nations Charter has served as a font of inspiration for generations. Its clarion call on behalf of the peoples of the United Nations for a  determination that we should establish conditions under which respect for international law should be maintained has never been more important. And through Chapter XIV of the Charter we sought to give real and practical effect to the aspiration of the creation of the International Court of Justice (ICJ). 

    We came from a myriad of distinct legal cultures and traditions to recognise that the security and prosperity of us all can be met by the compliance with law and peaceful resolution of disputes through international judicial means.

    We recognized that the world for future generations will be better when we settle disputes in courtrooms not on battlefields. 

    And as the globe currently faces critical challenges, there has never been a more important moment for us all to reaffirm our commitment to that ideal, to the international rule of law and thus to the important world of the ICJ.   

    The United Kingdom has demonstrated its support for the Court in part by accepting compulsory jurisdiction. And I reiterate the call made by the General Assembly for States that have not yet done so to consider accepting the jurisdiction of the ICJ in accordance with its Statute. 

     And our commitment to the future of the Court and our commitment to the very highest standards in international law is such that I am delighted that the UK National Group has decided to nominate Professor Dapo Akande for election to the Court for the 2027-2036 term. 

    The United Kingdom would once again wish to thank the President of the Court for the report and at this critical moment to reaffirm our unwavering support for its vital work.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Buildings Department follows up on incident of broken glass cladding at external wall of Citywalk

    Source: Hong Kong Government special administrative region

         Upon notification by the Police at about 7.30pm last night (October 24) regarding the incident of broken glass cladding at the external wall of Citywalk, Tsuen Wan, staff of the Buildings Department (BD) was immediately deployed to carry out site inspection and found that a piece of glass cladding of about 3m by 2m at the external wall of the fifth floor of the building facing Wo Tik Street was broken. No obvious danger to the overall building structure was noted.

         As instructed by the staff of the BD, the property management company (PMC) of the building has arranged a contractor to remove the remaining loosen pieces of glass last night and would arrange inspection to the other glass cladding and carry out necessary repair as soon as possible to ensure public safety. The BD will issue an investigation order to require the owner to appoint an authorised person to conduct investigation and submit an investigation report together with a remedial proposal. The BD would maintain contact with the PMC to monitor the progress of the investigation and repair works.

         The affected pavement is temporarily fenced off. The BD will continue to follow up the matter to ensure public safety.

         The BD has specific requirements on the quality and construction of glass cladding. For example, the testing of materials and procedures before installation should comply with the relevant statutory requirements.  

         The BD emphasised that it is the responsibility of owners to ensure the safety of their buildings. Timely repair and maintenance of private buildings is the basic responsibility of owners. They may also be liable to criminal prosecution and civil proceedings if the building dilapidation causes damage to property or injury to persons.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Upper Sackville — RCMP traffic stop results in seizure of handgun and drugs

    Source: Royal Canadian Mounted Police

    A traffic stop by the Nova Scotia RCMP’s Southeast Traffic Services (SETS) on Highway 101 has resulted in numerous charges and the seizure of a restricted firearm, drugs, illegal tobacco, and cash.

    On October 23 at approximately 1:55 p.m., an officer with SETS was conducting traffic enforcement on Highway 101 in Upper Sackville and queried the license plate of a passing Dodge Ram, showing it to be unregistered. A traffic stop was conducted and the driver was determined to have a revoked driver’s license.

    During the course of the Motor Vehicle Act investigation, the officer observed a quantity of unstamped tobacco cigarettes in the vehicle, and the driver was arrested under the Excise Act. The officer subsequently searched the vehicle and located more unstamped tobacco, bags of suspected methamphetamine pills, a significant quantity of cash, a 9mm handgun with the serial number removed, and two high capacity magazines.

    The driver, 37-year-old Jacob Netherton of Mount Uniacke, has been charged with numerous offences including, but not limited to:

    • Possession of a Controlled Substance for the Purpose of Trafficking
    • Unauthorized Possession of a Firearm
    • Firearm Possession Contrary to Prohibition Order
    • Tampering with Firearm Serial Number
    • Possession of a Prohibited Device (over-capacity magazines)

    Netherton was held in-custody pending an initial court appearance on October 24, 2024 at Halifax Provincial Court.

    MIL Security OSI –

  • MIL-OSI USA: Congressman DeSaulnier to Present Funding to Seneca Family of Agencies to Help Protect Contra Costa Children from Exploitation in Martinez on Wednesday, October 30th

    Source: United States House of Representatives – Congressman Mark DeSaulnier Representing the 11th District of California

    Walnut Creek, C.A. – Today, Congressman Mark DeSaulnier (CA-10) announced he will present funding he secured to Seneca Family of Agencies to help local law enforcement, the probation system, behavioral health partners, and child welfare organizations to identify and respond to commercial and sexual exploitation of children in Contra Costa County on Wednesday, October 30th. This funding was part of the Consolidated Appropriations Act, 2024 (H.R. 4366), which included a total of $15.2 million in federal funding Congressman DeSaulnier secured for 15 projects across Contra Costa County and Alameda County.

    This event is open to press and photographers. Media interested in attending the event should RSVP to Mairead Glowacki at (202) 760-1365 or mairead.glowacki@mail.house.gov.
     

    TIME: Wednesday, October 30th from 12:15 p.m. – 12:45 p.m. PT
     

    WHERE:  50 Douglas Drive, Martinez, CA 94553
     

    WHAT: Congressman DeSaulnier will present funding he secured for Seneca Family of Agencies to coordinate between law enforcement and community partners to better protect children in Contra Costa County from commercial and sexual exploitation. 
     

    WHO:
    U.S. Congressman Mark DeSaulnier
    Chief Program Officer of Northern California Programs, Seneca Family of Agencies, Lauren Crutsinger
    Chief Probation Officer, Contra Costa County, Esa Ehmen-Krause
    Chief of Police, San Ramon Police Department, Denton Carlson   

    MIL OSI USA News –

  • MIL-OSI Security: Sagkeeng First Nation — Powerview RCMP arrest two after firearms complaint

    Source: Royal Canadian Mounted Police

    On October 22, 2024, just after 12:00 am, Powerview RCMP responded to a call of two males with a firearm walking in the community.

    Officers began patrols immediately and spotted a running vehicle parked in front of a residence with two occupants inside. As officers approached the vehicle, they noticed a rifle in the back seat.

    Melvin Courchene, 26, and a 32-year-old male were both arrested without incident, and the firearm was seized. At that time, officers became aware there was still another male inside the residence with a firearm.

    Officers on scene contained the residence, and requested assistance from the RCMP Emergency Response Team (ERT). A warrant to enter the residence was granted, ERT responded, and the suspect, Isaiah Morrisseau, 39, surrendered without incident.

    Isaiah Morrisseau is charged with:

    -Possession of Firearm when Knowing Possession Unauthorized

    -Weapons Possession Contrary to Order and Fail to Surrender Authorization

    -Possession of Weapon for Dangerous Purpose

    Melvin Courchene is charged with:

    -Possession of Firearm when Knowing Possession Unauthorized

    -Possession of a Firearm in Motor Vehicle

    -Weapons Possession Contrary to Order and Fail to Surrender Authorization x2

    The 32-year-old male was arrested for:

    -Unauthorized Possession of a Firearm

    -Possession of a Firearm Ammunition in Motor Vehicle

    Morrisseau and Courchene have been remanded, while the 32-year-old male was released on conditions and cannot be named.

    The investigation continues.

    MIL Security OSI –

  • MIL-OSI USA: Senate Intelligence Committee Chairman Presses Domain Registrars Providing Support to Russian Influence Efforts

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – U.S. Senator Mark R. Warner (D-VA), Chairman of the Senate Select Committee on Intelligence, today wrote to American domain registrars NameCheap, GoDaddy, Cloudflare, NewFold Digital, NameSilo, and Versign – which were identified in a Department of Justice affidavit as providing domain services to the “Doppelganger” Russian covert influence network – pressing them to take immediate steps to address the continued abuse of their services for foreign covert influence, particularly in the period preceding and following Election Day.

    Through the maintenance of both inauthentic social media accounts and websites, the hallmark of the Russian government-directed foreign malign influence campaigns known as “Doppelganger” has been the impersonation of Western media institutions online, including outlets like the Washington Post, Fox News, and Forward. Russian influence operatives have been attributed impersonating dozens of legitimate organizations online as early as September 2022, when researchers at the nonprofit EU Disinfo Lab first identified the network’s campaigns, using misleading domains (such as www.washingtonpost.pm, www.washingtonpost.ltd, www.fox-news.in, www.fox-news.top and www.forward.pw) to covertly spread Russian government propaganda with the aim of reducing international support for Ukraine, bolstering pro-Russian policies and interests, and influencing voters in U.S. and foreign elections, including the 2024 presidential election. 

    Citing research conducted by Meta in 2023, Warner noted several ways in which the global domain name industry has enabled Russian malign influence activity, including withholding vital domain name registration information from good-faith researchers and digital forensic investigators, ignoring inaccurate registration information submitted by registrants, and failing to identify repeated instances of intentional and malicious domain name squatting used to impersonate legitimate organizations.

    Wrote Warner today, “Information included in the affidavit supporting recent seizure of a number of these domains provides further indication of your industry’s apparent inattention to abuses by foreign actors engaged in covert influence. Specifically, Russian influence actors utilized a number of tactics, techniques, and procedures that – against the backdrop of extensive open source literature on Doppelganger’s practices – should have alerted your company to abuse of its services, including the use of cryptocurrency to purchase domains, heavy reliance on anonymizing infrastructure to access your registration services (including the use of IPs widely associated with cybercriminal obfuscation network activity), the use of credit cards issued to a U.S. company “that has significant ties to, and employees based in, Russia,” use of fictitious and poorly-backstopped identities for registrants, and in at least one instance the use of a Russian address.”

    Noted Warner, “While foreign covert influence represents one of the most egregious abuses of the domain name system, the industry’s inattention to abuse has been well-documented for years, enabling malicious activity such as phishing campaigns, drive-by malware, and online scams – all possible because of malicious actors using your services… Given the continued lapses of your industry to address these abuses, I believe Congress may need to evaluate legislative remedies that promote greater diligence across the global domain name ecosystem.”

    “In the interim, your company must take immediate steps to address the continued abuse of your services for foreign covert influence – particularly in the days preceding, and weeks immediately following, Election Day. With the prospect of a close election – and declassified intelligence demonstrating the past practice of foreign adversaries in spreading narratives that undermine confidence in election processes– Americans will be particularly reliant on media organizations and state and local government websites to provide authoritative and accurate election information. It is imperative that your company work to diminish the risk that foreign adversaries use impersonated domains to promote false narratives in this context,” Warner concluded.

    As Chairman of the Senate Select Committee on Intelligence, Warner has been consistently warning about the threat posed by foreign covert influence networks ahead of the 2024 elections. Last month, he convened a public hearing with representatives from Alphabet, Meta and Microsoft examining the roles and responsibilities of U.S. platforms to prevent the spread of foreign propaganda and misinformation on their networks.

    A copy of the letters are available here.

    MIL OSI USA News –

  • MIL-OSI USA: Gallego Announces Over $31 Million in Water Funding Coming to Arizona

    Source: United States House of Representatives – Representative Ruben Gallego (AZ-07)

    October 23, 2024

    PHOENIX – Today, Rep. Ruben Gallego (AZ-03) announced $31,623,000 in funding from the Bipartisan Infrastructure Law is coming to Arizona for clean water and drinking water projects.

    “In Arizona, we know that securing our water future is vital to our continued success. That’s why I proudly voted for the Bipartisan Infrastructure Law,” said Rep. Gallego. “I’m glad to have secured the funding announced today, which will help ensure Arizonans have access to safe, clean water.”

    Of the $31 million, $18,258,000 will go to the Clean Water State Revolving Fund for water quality and infrastructure projects and $13,365,000 will go to the Drinking Water State Revolving Fund to maintain healthy drinking water.

    Today’s announcement builds on Rep. Gallego’s work to secure Arizona’s water future, including:

    You can learn more about Rep. Gallego’s work in his report: Securing Arizona’s Water Future.

    MIL OSI USA News –

  • MIL-OSI Economics: WTO hosts event on role of youth in promoting “Trade for Peace” in fragile states

    Source: WTO

    Headline: WTO hosts event on role of youth in promoting “Trade for Peace” in fragile states

    In his opening remarks, Deputy Director-General Xiangchen Zhang said: “The youth are not just the leaders of tomorrow; they are the change-makers of today.” He stressed the importance of including young voices in decision-making, noting that the WTO’s Trade for Peace (T4P) Programme’s Future Leaders Initiative aims to empower youth as active agents of stability and prosperity.
    An “Intergenerational Perspectives on Trade and Peace” panel brought together Ambassador Alan Wolff, Distinguished Visiting Fellow at the Peterson Institute for International Economics, Ms. Afomia Andualem, CEO and Co-Founder of Agelgil Eco- Packaging in Ethiopia, Mr. Eric Andrew, a WTO Young Trade Leader and Founder of AgrofixiNG in Nigeria, and Ms. Maria Guterres, Vice-Coordinator of the Timorese Youth Initiative for Development.
    The panelists explored the historical connection between trade and peace, with each speaker sharing their perspectives on how youth can contribute to fostering peace through trade.
    The event saw the launch of videos showcasing findings from students of the University of St. Gallen University in Switzerland and from experts in the area of trade and peace. These videos stemmed from a project with the University of St. Gallen undertaken from September to December 2023 aimed at delving into the intersection of trade and peace.
    The videos sparked lively breakout discussions, where participants explored practical steps to enhance youth involvement in the link between trade and peace. The discussions also encompassed the research findings of students taking part in the autumn 2023 TradeLab International Economic Law Clinic at the Geneva Graduate Institute, who explored the interlinkages between trade and peace agreements and negotiations.
    The event culminated in a collective call to action, delivered by Kérshia Cavele, Project Coordinator of the Trade for Peace Programme, urging policymakers to support youth-driven initiatives and create pathways for sustainable peace through trade. She noted that the event underscored the growing recognition of youth as essential players in addressing the challenges facing fragile and conflict affected states. By fostering academic insights with real-world experiences, the “Trade for Peace: Future Leaders Initiative” continues to pave the way for innovative solutions that leverage the multilateral trading system as a tool for peacebuilding.
    The youth event was organized during the 2024 Geneva Peace Week, which brings together organizations in Geneva and their international partners to share knowledge and best practice. At the Opening Ceremony, Ms. Milzat Salime of the WTO’s Trade for Peace team emphasized the vital role of youth in peacebuilding. WTO Deputy Director General Xiangchen Zhang participated in a high-level panel titled Peace, Trade, Development and Innovations: Insights from International Leaders and Ms Maika Oshikawa, Director of the WTO’s Accessions Division, delivered opening remarks in the session titled Trade and SME-led Growth in Fragile and Conflict-Affected Settings: Key Principles for Inter-Agency Collaboration.
    Background
    The Trade for Peace (T4P) Programme emerged from the vision of the g7+ WTO Accessions Group, a group of fragile and conflict-affected states (FCS) associated with WTO accession. Launched at the 11th WTO Ministerial Conference in 2017, the Group’s aim is to integrate FCS into the multilateral trading system through WTO membership, strengthening economic and trade policy frameworks while promoting transparency and good governance. Initially organized under the “Trade for Peace through WTO Accession” initiative, it expanded into the T4P Programme in 2021.
    The T4P Programme highlights trade and economic integration as key components in fostering durable peace and stability in fragile regions. Building on this foundation, the Trade for Peace: Future Leaders Initiative extends these efforts by engaging youth, focusing on raising awareness of their role in peacebuilding through trade, providing platforms for their voices, and fostering innovative solutions.

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    MIL OSI Economics –

  • MIL-OSI USA: Baldwin Announces $86 Million for Clean and Safe Drinking Water in Wisconsin Through Bipartisan Infrastructure Law

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin

    WISCONSIN – Today, U.S. Senator Tammy Baldwin (D-WI) announced Wisconsin is receiving an additional $86 million through her Bipartisan Infrastructure Law to upgrade water infrastructure and ensure communities have access to clean and safe drinking water. The funding will help communities across Wisconsin protect local freshwater resources, replace dangerous lead pipes, address PFAS and other contaminants, and deliver safe drinking water to homes, schools, and businesses.

    “No matter your zip code, every Wisconsin family should be confident when they turn on the tap, their drinking water is clean and safe. Our Bipartisan Infrastructure Law is replacing dangerous lead pipes, protecting families from dangerous chemicals like PFAS, and delivering clean water to homes, schools, and businesses in every corner of the Badger State. I’m proud to help deliver this investment for Wisconsin families’ health and future,” said Senator Baldwin.

    “Wisconsinites deserve to be able to trust that the water coming from their tap is clean and safe to drink,” said Wisconsin Governor Tony Evers. “Thanks to the hard work of Senator Baldwin and the Biden-Harris Administration’s Investing in America Agenda, these investments will help us build upon our work to improve our state’s water infrastructure, get rid of harmful contaminants like PFAS and lead, and make a real difference for folks and families across our state.”

    The Baldwin-backed Bipartisan Infrastructure Law funds will flow through Wisconsin’s Clean Water and Drinking Water State Revolving Funds (CWSRF and DWSRF), a long-standing federal-state water investment partnership. The investment will fund state-run, low-interest loan programs that address key challenges in financing water infrastructure. Today’s announcement includes allotments for Bipartisan Infrastructure Law Clean Water General Supplemental funds for Wisconsin ($67,272,000), Emerging Contaminant funds ($5,807,000), and ($13,082,000) under the Drinking Water Emerging Contaminant Fund.

    Senator Baldwin secured key provisions of her Made in America Act in the Bipartisan Infrastructure Law, ensuring that American iron and steel are used in the construction of the water infrastructure under the CWSRF and DWSRF. In addition to today’s funding announcement, Wisconsin has so far received over $330 million for water infrastructure under the Bipartisan Infrastructure Law.

    More information about this announcement is available here. 

    MIL OSI USA News –

  • MIL-OSI USA: Senator Baldwin Leads Senate Resolution Designating October 23 National Marine Sanctuary Day

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin

    WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin (D-WI) introduced a Senate Resolution designating October 23, 2024 as “National Marine Sanctuary Day.” The resolution highlights the role of national marine sanctuaries in increasing access to nature, protecting biodiversity, and boosting economic activity for coastal communities.

    “Wisconsin Shipwreck Coast National Marine Sanctuary is an engine for tourism and world-class research along Lake Michigan, stimulating our local economies and pioneering breakthroughs for our Great Lakes,” said Senator Baldwin. “I’m proud to have fought for and delivered a national marine sanctuary for Wisconsin, and will continue to fight to protect our nation’s natural resources and ensure generations to come can enjoy our coastlines.”

    Senator Baldwin has fought to support national marine sanctuaries, successfully leading the charge to bring a National Marine Sanctuary to Wisconsin in 2021. In October 2013, Senator Baldwin urged the National Oceanic and Atmospheric Administration (NOAA) to re-open the public nomination process for marine sanctuaries for the first time in 20 years. After the Administration announced in June 2014 that Americans would be given the opportunity to nominate nationally significant marine and Great Lakes areas as national marine sanctuaries, Wisconsin’s Lake Michigan proposal was submitted and Senator Baldwin called on NOAA to support their efforts. The Wisconsin Shipwreck Coast National Marine Sanctuary was officially designated in 2021.

    As a member of the Senate Appropriations Committee, Senator Baldwin has continued to advocate for Wisconsin’s Great Lakes by supporting robust funding for the National Marine Sanctuaries Program and by requesting federal funding for the Wisconsin Shipwreck Coast National Marine Sanctuary Foundation.

    The resolution is co-sponsored by Senators Richard Blumenthal (D-CT), Maria Cantwell (D-WA), Ben Cardin (D-MD), Martin Heinrich (D-NM), Mazie Hirono (D-HI), Patty Murray (D-WA), Alex Padilla (D-CA), Brian Schatz (D-HI), Chris Van Hollen (D-MD), Raphael Warnock (D-GA), Peter Welch (D-VT), Cory Booker (D-NJ), and Gary Peters (D-MI).

    The resolution is supported by Alabama Coastal Foundation, Azul, California Academy of Sciences, Carolina Ocean Alliance, Creation Justice Ministries, EarthEcho International, The Florida Aquarium, Friends of the Mariana Trench, Global Rewilding Alliance, Greater Farallones Association, GreenLatinos, Guy Harvey Foundation, Healthy Ocean Coalition, Inland Ocean Coalition, Minorities in Shark Sciences, Monterey Bay Aquarium, National Aquarium, National Ocean Protection Coalition, National Wildlife Federation, Next 100 Coalition, Ocean Defense Initiative, Point Defiance Zoo & Aquarium + Northwest Trek Wildlife Park, Shark Stewards, Shedd Aquarium, South Carolina Aquarium, Surfrider Foundation, Sustainable Ocean Alliance, The Ocean Project, WILDCOAST, Wildlife Conservation Society, and World Ocean Day.

    “National marine sanctuaries are special places in America’s waters where people show up as part of the solution to steward our blue planet,” said Joel R. Johnson, President and CEO of the National Marine Sanctuary Foundation. “From the Great Lakes to the Gulf of Mexico, the Chesapeake Bay to Pacific Islands, national marine sanctuaries connect us with wildlife and our shared history making us feel like we are part of something much greater than ourselves. Our continued support for these treasured waters is more essential than ever and makes a positive impact for present and future generations.”

    “The conservation of our special ocean and Great Lakes places is vital for the species that depend on them, the communities that rely on them, and the future generations that dream about them,” said Ayana Melvan, Director of Conservation Action of the Aquarium Conservation Partnership.

    “The ACP and its members strive to celebrate the science and stories of our National Marine Sanctuary System at every opportunity. We’re proud to stand behind the Senator’s resolution to recognize the 600,000 sq. miles and growing of marine and Great Lake waters that truly make America beautiful,” said Kim McIntyre, Executive Director of the Aquarium Conservation Partnership.

    A full version of this resolution is available here and below.

    Designating October 23, 2024, as “National Marine Sanctuary Day”.

    Whereas, on October 23, 1972, the Marine Protection, Research, and Sanctuaries Act of 1972 (33 U.S.C. 1401 et seq.) became law and ushered in a new era of ocean conservation;

    Whereas the National Marine Sanctuary System is a nationwide network that conserves spectacular oceans, coasts, and Great Lakes;

    Whereas communities across the United States can nominate their most treasured marine and Great Lakes waters for consideration as national marine sanctuaries;

    Whereas national marine sanctuaries protect biodiversity, safeguard extraordinary seascapes, historic shipwrecks, and sacred cultural places, and provide abundant recreational opportunities;

    Whereas national marine sanctuaries seek opportunities to partner with indigenous governments and communities to achieve shared conservation goals and to support the care-taking of ecological resources and cultural sites of indigenous peoples;

    Whereas national marine sanctuaries protect vital habitats for countless species of fish and wildlife, including many species that are listed as threatened or endangered;

    Whereas the conservation of marine ecosystems is vital for healthy oceans, coasts, and Great Lakes, for addressing climate change, and for sustaining productive coastal economies;

    Whereas the National Marine Sanctuary Foundation and its partners work to protect and nurture the growth of the National Marine Sanctuary System;

    Whereas national marine sanctuaries increase access to nature for all, support coastal communities, and generate billions of dollars annually in local communities by providing jobs in the United States, supporting commercial, Tribal, and recreational fisheries, bolstering tourism and recreation, engaging businesses in stewardship, and driving the growth of the blue economy;

    Whereas national marine sanctuaries connect people and communities through science, education, United States history, recreation, and stewardship and inspire community-based solutions that help individuals understand and protect the spectacular underwater habitats, wildlife, archaeological resources, and cultural seascapes of the United States;

    Whereas national marine sanctuaries are living laboratories that enable cooperative science and research that improves resource management and advances innovative public-private partnerships;

    Whereas national marine sanctuaries can help make oceans, coasts, and Great Lakes more resilient by protecting ecosystems that sequester carbon, by safeguarding coastal communities from flooding and storms, and by protecting biodiversity;

    Whereas the United States is a historic maritime Nation, and oceans, coasts, and Great Lakes are central to the way of life of the people of the United States;

    Whereas engaging communities as stewards of these protected waters makes national marine sanctuaries unique and provides a comprehensive, ecosystem-based, highly participatory approach to managing and conserving marine and Great Lakes environments for current and future generations; and

    Whereas October 23, 2024, is recognized as “National Marine Sanctuary Day” to increase awareness about the importance of the National Marine Sanctuary System and healthy oceans, coasts, and Great Lakes and to celebrate the many recreational opportunities available for the enjoyment of this network of protected waters: Now, therefore, be it

    Resolved, That the Senate—

    (1) designates October 23, 2024, as “National Marine Sanctuary Day”;

    (2) encourages the people of the United States and the world to responsibly visit, experience, recreate in, and support the treasured national marine sanctuaries of the United States;

    (3) acknowledges the importance of national marine sanctuaries in supporting community resilience, protecting biodiversity, and increasing access to nature;

    (4) recognizes the importance of national marine sanctuaries for their recreational opportunities and contributions to local and national economies across the United States;

    (5) celebrates the ability of the National Marine Sanctuary System to protect nationally significant places in oceans, coasts, and Great Lakes;

    (6) calls on the National Oceanic and Atmospheric Administration to partner with communities and to complete designations of new national marine sanctuaries; and

    (7) encourages Federal agencies to balance priorities and work together to support the priorities of the Marine Protection, Research, and Sanctuaries Act of 1972 (33 U.S.C. 1401 et seq.).

    MIL OSI USA News –

  • MIL-OSI USA: QUIGLEY, SORENSEN, DURBIN, DUCKWORTH, ANNOUNCE $33.5 MILLION IN FEDERAL FUNDING FOR PEORIA AND CHICAGO AIRPORTS

    Source: United States House of Representatives – Representative Mike Quigley (IL-05)

    Today, U.S. Representatives Mike Quigley (D-IL-05), Eric Sorensen (D-IL-17) and U.S. Senators Dick Durbin (D-IL), and Tammy Duckworth (D-IL) announced $33,510,000 in federal funding from the Department of Transportation’s Airport Terminal Program.

    With today’s announced funding, General Wayne A. Downing Peoria International Airport will receive $13,510,000 for the replacement of their air traffic control tower, and Chicago O’Hare International Airport will receive $20,000,000 for an expansion to Terminal 5.

    “Throughout my career, I have worked tirelessly to ensure that travelers receive the best and most efficient service possible at O’Hare. Today’s funding announcement will build on the progress we have already made. This expansion will benefit not only our constituents but also travelers across the country, while boosting our economy. When I voted for the Bipartisan Infrastructure Law, I did so knowing it would bring vital investments like these and create lasting benefits across our state. Together, we are paving the way for a brighter future and a stronger transportation network for everyone,” said Quigley.

    “By improving and modernizing airport infrastructure, we are laying the foundation for increased connectivity and reliability,” said Durbin. “Today’s announced federal funding for upgrading our airports across Illinois will enhance the travel experience for passengers and promote economic growth. I will continue working with Senator Duckworth and our Congressional colleagues to ensure Illinois airports have the necessary federal resources to keep passengers safe and connected.”

    “Illinois’s airports are critical economic engines for our state,” Duckworth said. “This funding will help improve and modernize O’Hare and Downing International Airports and, after years of neglecting our nation’s infrastructure, I’m proud every day to see the Bipartisan Infrastructure Law at work rebuilding infrastructure all across our country. I will continue to work alongside Senator Durbin and the Illinois delegation to make traveling safer and more reliable for all passengers while ensuring that our communities are receiving the much-needed federal resources they deserve.”

    “This important funding coming to Peoria International Airport is about connecting my neighbors in Central Illinois to the world. The new air traffic control tower will allow controllers to see the end points of both runways and all taxiways, making it safer for travelers and airport staff. I am grateful to Senators Durbin and Duckworth for their support of this project as we continue our work to keep air travel safe and open Peoria to new destinations,” said Sorensen.

    Durbin and Duckworth previously worked to secure a provision in the Bipartisan Infrastructure Law (BIL) to make Peoria’s airport-owned air traffic control tower (ATCT) eligible for federal funding. Following the enactment of the Bipartisan Infrastructure Law, the ATCT has received $29 million in federal funding across two previous grants.

    Durbin and Duckworth helped secure two previous BIL Airport Terminal Program grants for Chicago O’Hare International Airport for the Terminal 3 Project totaling $90 million, a 2023 grant of $50 million and a 2024 grant of $40 million.

    MIL OSI USA News –

  • MIL-OSI Australia: Update – Pair charged after incident at Elizabeth Interchange

    Source: South Australia Police

    Two women have been charged following an incident at Elizabeth yesterday evening.

    Just after 6.30 pm on Wednesday 23 October, police were called to the Elizabeth Interchange at Mountbatten Square following reports a security guard had been stabbed.

    Patrols were quick to the scene and located two 27-year-old women who were swiftly arrested by patrols.

    The 34-year-old security guard suffered a laceration to his forearm and was taken to hospital by paramedics for treatment of serious but non-life threatening injuries.

    Whilst attempting to arrest one of the women, a police officer was assaulted and suffered minor injuries.

    Further enquiries identified that the two females stole items from a store within the Elizabeth Shopping Centre before one female assaulted the security guard.

    One female was charged with theft and granted police bail to appear in the Elizabeth Magistrates Court on 26 November.

    The second female was charged with assault cause harm, resisting arrest and assaulting a prescribed emergency service worker. She was refused police bail and will  appear in the Elizabeth Magistrates Court today (Thursday 24 October).

    MIL OSI News –

  • MIL-OSI: First Bank Announces Third Quarter 2024 Net Income of $8.2 Million

    Source: GlobeNewswire (MIL-OSI)

    Results reflect strong loan and deposit growth, solid asset quality, and balance sheet optimization initiatives

    HAMILTON, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) — First Bank (Nasdaq Global Market: FRBA) (the Bank) today announced results for the third quarter of 2024. Net income for the third quarter of 2024 was $8.2 million, or $0.32 per diluted share. Return on average assets, return on average equity and return on average tangible equity[i] for the third quarter of 2024 were 0.88%, 8.15% and 9.42%, respectively. The Bank recorded a net loss of $1.3 million, or a loss of $0.05 per diluted share, and losses on average assets, equity, and tangible equityi of 0.14%, 1.43%, and 1.66%, respectively, for the third quarter of 2023. Financial results for the third quarter of 2023 were negatively impacted by the Malvern Bancorp acquisition, completed in July 2023, primarily due to the merger-related expenses and the initial credit loss expense on acquired loans.

    Third Quarter 2024 Performance Highlights:

    • Total loans of $3.09 billion at September 30, 2024 grew $89.5 million, or 11.9%, annualized, from the linked quarter ended June 30, 2024. Loan growth occurred late in the quarter, which is reflected in average loan balance increase of only $12.2 million during the quarter ended September 30, 2024. The growth was primarily driven by $56.9 million expansion within the Commercial and Industrial and Owner-occupied commercial real estate loan categories.
    • Total deposits of $3.05 billion at September 30, 2024 grew $82.4 million, or 11.1%, annualized, from the linked quarter. Growth occurred across all deposit categories, as non-interest bearing demand, interest bearing demand, money market and savings, and time deposits increased $19.3 million, $23.3 million, $36.3 million, and $3.6 million, respectively, from the second quarter of 2024.
    • Tangible book value per share[ii] grew to $13.84 at September 30, 2024, increasing 11.2%, annualized, from $13.46 at June 30, 2024.
    • The Bank continued to prioritize balance sheet efficiency, selling approximately $11.7 million of investment securities during the quarter ended September 30, 2024 which resulted in a $555,000 net loss on the sale of investments during the quarter. The Bank also completed a restructuring of its bank-owned life insurance (BOLI) portfolio during the quarter which resulted in approximately $24 million in terminated policies and the acquisition of approximately $20 million in new policies. As a result of the restructure, the Bank recorded a $1.1 million enhancement to the cash surrender value and recognized additional income tax expense totaling $1.2 million.
    • Strong asset quality continued, with nonperforming assets decreasing by 9 basis points to 0.47% of total assets at September 30, 2024 from 0.56% at June 30, 2024.

    Patrick L. Ryan, President and CEO of First Bank, reflected on the Bank’s performance, stating, “First Bank’s outstanding third quarter growth is an outcome of a well-executed long-term strategy. We have worked to build teams, products, and operating structures that promote quality growth over the long term, and the results are evident. Our teams added high-quality loans and deposits across all categories. We also continued to optimize the Bank’s efficiency as our efficiency ratio[iii] remained below 60% for the 21st consecutive quarter. We continued to enact strategies to enhance future profitability and complement our organic growth efforts including ongoing balance sheet restructuring through the sale of certain lower-yielding investment securities, and we opportunistically restructured our BOLI policies during the quarter, an initiative that will be accretive to future earnings. The current quarter highlighted our efforts to build our core community banking customer base while we expand our specialty banking teams and continued investment in technology to improve the customer experience.”   

    Mr. Ryan added, “We are pleased with our ability to generate solid returns for our shareholders, including this quarter’s 11% annualized growth in tangible book value per share. We continue to explore a variety of opportunities to drive future earnings. Our recent receipt of regulatory approval to initiate stock repurchases also adds to our toolkit of options to support continued and growing returns for our shareholders.”

    Income Statement

    In the third quarter of 2024, the Bank’s net interest income increased to $30.1 million, growing $1.5 million, or 5.2%, compared to the same period in 2023. The increase was primarily due to net interest margin expansion in the third quarter of 2024 compared to the third quarter of 2023. Net interest income decreased $446,000, or 1.5%, from the linked second quarter of 2024. The modest decrease was primarily due to net interest margin compression and the timing of our loan growth, which occurred late in the third quarter, limiting interest income received during the quarter. During the third quarter, a $606,000 increase in interest income compared to the second quarter of 2024 was primarily related to higher earning asset balances, which was offset by a $1.1 million increase in interest expense, resulting from increased deposit costs and a higher level of average borrowings.

    The Bank’s tax equivalent net interest margin of 3.49% for the third quarter of 2024 represented an increase of 13 basis points from the quarter ended September 30, 2023 and a decrease of 13 basis points from the linked quarter ended June 30, 2024. The Bank’s tax equivalent net interest margin includes the impact of amortization and accretion of premiums and discounts from fair value measurements of assets acquired and liabilities assumed in acquisitions. Amortization of premiums and accretion of discounts from fair value measurements of assets acquired and liabilities assumed in acquisitions totaled $3.4 million during the third quarter of 2024, compared to $2.7 million for the quarter ended September 30, 2023 and $3.6 million for the quarter ended June 30, 2024. The Bank’s net interest margin declined compared to the linked second quarter due to lower acquisition accounting accretion income, increased levels of average borrowings, lower average loan yields, and higher interest bearing deposit costs.

    The Bank recorded a credit loss expense totaling $1.6 million during the third quarter of 2024, compared to $63,000 recorded during the second quarter of 2024 and $6.7 million recorded for the third quarter of 2023. The Bank’s credit loss expense for the third quarter of 2024 was commensurate with robust organic loan growth during the quarter and continued to reflect strong and stable asset quality. Credit loss expense for the third quarter of 2023 included a $5.5 million credit loss recorded to establish the allowance for credit losses on the acquired Malvern loan portfolio.

    In the third quarter of 2024, the Bank recorded non-interest income of $2.5 million, compared to $193,000 during the same period in 2023 and $689,000 in the second quarter of 2024. The increase in non-interest income was primarily related to approximately $1.1 million in one-time enhancement to the cash surrender value of BOLI that resulted from the aforementioned BOLI restructuring transaction during the quarter, as well as higher yields earned on the new BOLI policies purchased during the quarter. Additionally, the Bank recorded $135,000 in net gains on the sale of loans during third quarter 2024, compared to net losses on the sale of loans totaling $900,000 and $704,000 in the linked and prior year quarters, respectively. This was partially offset by $555,000 in net losses on the sale of investment securities during third quarter 2024, while no investment securities sales were executed in the linked quarter, and $527,000 in net losses were recognized during the third quarter of 2023.

    Non-interest expense for the third quarter of 2024 was $18.6 million, a decrease of $4.8 million, or 20.6%, compared to $23.4 million for the prior year quarter. Lower non-interest expense was largely due to $7.0 million in merger-related expenses recorded during the third quarter of 2023. Excluding merger-related expenses, non-interest expense grew $2.2 million, or 13.3%, including an increase of $849,000 in salaries and employee benefits due to merit increases and a larger employee base. Other real estate owned (OREO) expense totaled $662,000 during third quarter 2024, with no similar expense recorded in third quarter 2023. The increase reflects a $363,000 impairment of an OREO asset along with other legal and real estate tax expenses recorded during the quarter. Additionally, other professional fees increased $312,000 primarily related to increases in personnel placement costs, consulting fees, and tax services.

    On a linked quarter basis, non-interest expense increased $691,000, or 3.8%, from $18.0 million for the second quarter of 2024. The largest impact on expenses compared to the linked quarter is the aforementioned $363,000 OREO impairment expense during third quarter 2024. Salaries and employee benefits expense increased by $207,000 primarily due to a larger employee base. These were partially offset by modest decreases in marketing and advertising costs, as well as travel and entertainment expenses.

    Income tax expense for the three months ended September 30, 2024 was $4.2 million with an effective tax rate of 33.9%, compared to an income tax benefit of $78,000 for the third quarter of 2023 and an income tax expense of $2.1 million with an effective tax rate of 16.2% for the second quarter of 2024. The effective tax rate for the third quarter of 2024 included approximately $1.2 million of tax expense recorded related to the BOLI restructuring. Excluding this impact, the effective tax rate would have been approximately 24% for the third quarter of 2024. The effective tax rate for the second quarter of 2024 was lower compared to the first quarter due to the recently enacted New Jersey Corporate Transit Fee, which resulted in a change in tax rate and a revaluation of the Bank’s deferred tax assets. A tax benefit of $1.1 million was booked as a discrete item in the second quarter for this change in tax rate.  With the expected negative ongoing impact of the New Jersey Corporate Transit Fee, we anticipate our future effective tax rate will range between 24% and 25%.

    Balance Sheet

    Total assets increased $148.3 million, or 4.1%, from December 31, 2023 to September 30, 2024. Total loans increased $66.0 million, or 2.2%, from December 31, 2023 to September 30, 2024. Growth totaling $116.3 million across the owner-occupied commercial real estate and commercial and industrial loan portfolios was partially offset by a decline of commercial investor real estate loans totaling $47.8 million, including multi-family and construction and development, during the first nine months of 2024. The Bank continues to prioritize relationship-based commercial and industrial lending while actively managing our exposure in investor real estate lending.

    Total assets grew $141.9 million, or 15.6% annualized, during the quarter ended September 30, 2024. Growth included an increase of $71.5 million in cash and cash equivalents related to the opportunistic addition of FHLB advances when interest rates declined during the quarter. Total loans increased by $89.5 million, or 11.9%, annualized, during the quarter ended September 30, 2024. Growth across the owner-occupied commercial real estate and commercial and industrial loan portfolios totaled $56.9 million, while commercial investor real estate loans, including multi-family and construction and development, grew $27.5 million, and consumer and residential real estate loans grew $5.2 million.

    Total deposits increased by $82.4 million, or 11.1% annualized, during the quarter ended September 30, 2024. Growth occurred across all categories, with non-interest bearing demand, interest bearing demand, money market and savings, and time deposits increasing $19.3 million, $23.3 million, $36.3 million, and $3.6 million, respectively, from the second quarter of 2024. Our team continued to focus on attracting new deposit relationships while maintaining existing core balances.

    Nearly all of the Bank’s deposit growth for the first nine months of 2024 occurred during the quarter ended September 30, 2024. We also experienced a slight shift in the mix of customer balances over the nine-month period. The Bank grew non-interest bearing demand deposits by $17.3 million in a challenging interest rate environment, while total interest-bearing deposits experienced a shift toward higher-costing deposits. During the first nine months of 2024, increases in money market and savings deposits and time deposits totaled $64.2 million and $32.3 million, respectively, partially offset by a decline in interest bearing demand deposits totaling $31.3 million.

    During the nine months ended September 30, 2024, stockholders’ equity increased by $31.2 million, primarily due to net income, partially offset by dividends.

    As of September 30, 2024, the Bank continued to exceed all regulatory capital requirements to be considered well-capitalized, with a Tier 1 Leverage ratio of 9.53%, a Tier 1 Risk-Based capital ratio of 9.65%, a Common Equity Tier 1 Capital ratio of 9.65%, and a Total Risk-Based capital ratio of 11.55%. The tangible stockholders’ equity to tangible assets ratio[IV] increased to 9.41% as of September 30, 2024 compared to 8.89% at December 31, 2023.

    Asset Quality

    First Bank’s asset quality metrics for the third quarter of 2024 remained favorable. Total nonperforming loans declined from $25.0 million at December 31, 2023 to $12.0 million at September 30, 2024, while total nonperforming assets declined from $25.0 million to $17.7 million during the same period. 

    The Bank recorded net charge-offs of $386,000 during the third quarter of 2024, compared to net charge-offs of $175,000 during the second quarter of 2024 and net charge-offs of $1.1 million in the third quarter of 2023. The allowance for credit losses on loans as a percentage of total loans measured 1.21% at September 30, 2024, compared to 1.21% at June 30, 2024 and 1.40% at December 31, 2023.  The decline from December 31, 2023 to September 30, 2024 reflected the $5.5 million charge-off and elimination of the Bank’s reserves on a purchase credit deteriorated loan transferred to OREO during the first quarter of 2024.

    Liquidity and Borrowings

    The Bank increased its liquidity position in the third quarter of 2024. Total cash and cash equivalents increased by $71.5 million to $312.3 million at September 30, 2024. Borrowings increased by $49.9 million compared to June 30, 2024, as the Bank increased its FHLB borrowings.

    Management believes the Bank’s current liquidity position, coupled with our various contingent funding sources, provides us with a strong liquidity base and a diverse source of funding options.    

    Cash Dividend Declared

    On October 15, 2024, the Bank’s Board of Directors declared a quarterly cash dividend of $0.06 per share to common stockholders of record at the close of business on November 8, 2024, payable on November 22, 2024.

    Share Repurchase Program

    The Board of Directors has authorized and the Bank has received regulatory approvals for a new share repurchase program. The program provides for the repurchase of up to 1.0 million shares of First Bank common stock for an aggregate repurchase amount of up to $16.0 million. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The stock repurchases may be made from time to time on the open market or in privately negotiated transactions. The stock repurchase program does not require First Bank to repurchase any specific number of shares, and First Bank may terminate the repurchase program at any time. The share repurchase program will expire on September 30, 2025.

    Conference Call and Earnings Release Supplement

    Additional details on the quarterly results and the Bank are included in the attached earnings release supplement. http://ml.globenewswire.com/Resource/Download/8c344bfa-6975-4f79-872b-2307433b1520

    First Bank will host its earnings call on Thursday, October 24, 2024 at 9:00 AM Eastern Time. The direct dial toll free number for the live call is 1-800-715-9871 and the access code is 1578641. For those unable to participate in the call, a replay will be available by dialing 1-800-770-2030 (access code 8550862) from one hour after the end of the conference call until January 22, 2025. Replay information will also be available on First Bank’s website at www.firstbanknj.com under the “About Us” tab. Click on “Investor Relations” to access the replay of the conference call.

    About First Bank

    First Bank is a New Jersey state-chartered bank with 26 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington (2), Hamilton, Lawrence, Monroe, Morristown, Pennington, Randolph, Somerset and Williamstown, New Jersey; and Coventry, Devon, Doylestown, Glenn Mills, Lionville, Malvern, Paoli, Trevose, Warminster and West Chester, Pennsylvania; and Palm Beach, Florida. With $3.76 billion in assets as of September 30, 2024, First Bank offers a full range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market under the symbol “FRBA.”

    Forward Looking Statements

    This press release contains certain forward-looking statements, either express or implied, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding First Bank’s future financial performance, business and growth strategy, projected plans and objectives, and related transactions, integration of acquired businesses, ability to recognize anticipated operational efficiencies, and other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact economic trends, and any such variations may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions, current expectations, estimates and projections about First Bank, any of which may change over time and some of which may be beyond First Bank’s control. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Further, certain factors that could affect our future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: changes in market interest rates on funding costs, yield on interest earning assets, credit quality and strength of underlying collateral and the effect of such changes on the market value of First Bank’s investment securities portfolio; whether First Bank can: successfully implement its growth strategy, including identifying acquisition targets and consummating suitable acquisitions, integrate acquired entities and realize anticipated efficiencies, sustain its internal growth rate, and provide competitive products and services that appeal to its customers and target markets; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which First Bank operates and in which its loans are concentrated, including the effects of declines in housing market values; the effects of the recent turmoil in the banking industry (including the failures of two financial institutions in early 2023); the impact of public health emergencies, such as COVID-19, on First Bank, its operations and its customers and employees; an increase in unemployment levels and slowdowns in economic growth; First Bank’s level of nonperforming assets and the costs associated with resolving any problem loans including litigation and other costs; the extensive federal and state regulation, supervision and examination governing almost every aspect of First Bank’s operations, including changes in regulations affecting financial institutions and expenses associated with complying with such regulations; uncertainties in tax estimates and valuations, including due to changes in state and federal tax law; First Bank’s ability to comply with applicable capital and liquidity requirements, including First Bank’s ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets; and possible changes in trade, monetary and fiscal policies, laws and regulations and other activities of governments, agencies, and similar organizations. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Forward-Looking Statements” and “Risk Factors” in First Bank’s Annual Report on Form 10-K and any updates to those risk factors set forth in First Bank’s proxy statement, subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if First Bank’s underlying assumptions prove to be incorrect, actual results may differ materially from what First Bank anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and First Bank does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that First Bank or persons acting on First Bank’s behalf may issue.

    _____________

    i Return on average tangible equity is a non-U.S. GAAP financial measure and is calculated by dividing net income by average tangible equity (average equity minus average goodwill and other intangible assets).  For a reconciliation of this non-U.S. GAAP financial measure, along with the other non-U.S. GAAP financial measures in this press release, to their comparable U.S. GAAP measures, see the financial reconciliations at the end of this press release.

    ii Tangible book value per share is a non-U.S. GAAP financial measure and is calculated by dividing common shares outstanding by tangible equity (equity minus goodwill and other intangible assets).  For a reconciliation of this non-U.S. GAAP financial measure, along with the other non-U.S. GAAP financial measures in this press release, to their comparable U.S. GAAP measures, see the financial reconciliations at the end of this press release.

    iii The efficiency ratio is a non-U.S. GAAP financial measure and is calculated by dividing non-interest expense less merger-related expenses by adjusted total revenue (net interest income plus non-interest income).  For a reconciliation of this non-U.S. GAAP financial measure, along with the other non-U.S. GAAP financial measures in this press release, to their comparable U.S. GAAP measures, see the financial reconciliations at the end of this press release.

    iv Tangible stockholders’ equity to tangible assets ratio is a non-U.S. GAAP financial measure and is calculated by dividing tangible equity (equity minus goodwill and other intangible assets) by tangible assets (total assets minus goodwill and other intangible assets).  For a reconciliation of this non-U.S. GAAP financial measure, along with the other non-U.S. GAAP financial measures in this press release, to their comparable U.S. GAAP measures, see the financial reconciliations at the end of this press release.

    FIRST BANK
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (in thousands, except for share data, unaudited)
     
      September 30,
    2024    		   December 31,
    2023
    Assets          
    Cash and due from banks $ 35,456     $ 25,652  
    Restricted cash   9,200       13,770  
    Interest bearing deposits with banks   267,643       188,529  
    Cash and cash equivalents   312,299       227,951  
    Interest bearing time deposits with banks   743       996  
    Investment securities available for sale, at fair value   74,549       94,142  
    Investment securities held to maturity, net of allowance for credit losses of $206 at September 30, 2024 and $200 at December 31, 2023 (fair value of $39,049 and $38,486 at September 30, 2024 and December 31, 2023, respectively)   43,659       44,059  
    Equity securities, at fair value   1,860       1,888  
    Restricted investment in bank stocks   13,845       10,469  
    Other investments   11,141       9,841  
    Loans, net of deferred fees and costs   3,087,488       3,021,501  
    Less: Allowance for credit losses   (37,434 )     (42,397 )
    Net loans   3,050,054       2,979,104  
    Premises and equipment, net   20,331       21,627  
    Other real estate owned, net   5,637       –  
    Accrued interest receivable   13,502       14,763  
    Bank-owned life insurance   84,727       86,435  
    Goodwill   44,166       44,166  
    Other intangible assets, net   9,318       10,812  
    Deferred income taxes, net   31,448       30,875  
    Other assets   40,374       32,199  
    Total assets $ 3,757,653     $ 3,609,327  
               
    Liabilities and Stockholders’ Equity          
    Liabilities:          
    Non-interest bearing deposits $ 519,079     $ 501,763  
    Interest bearing deposits   2,530,991       2,465,806  
    Total deposits   3,050,070       2,967,569  
    Borrowings   236,999       179,140  
    Subordinated debentures   29,926       55,261  
    Accrued interest payable   5,078       2,813  
    Other liabilities   33,510       33,644  
    Total liabilities   3,355,583       3,238,427  
    Stockholders’ Equity:          
    Preferred stock, par value $2 per share; 10,000,000 shares authorized; no shares issued and outstanding   –       –  
    Common stock, par value $5 per share; 40,000,000 shares authorized; 27,367,984 shares issued and 25,186,920 shares outstanding at September 30, 2024 and 27,149,186 shares issued and 24,968,122 shares outstanding at December 31, 2023   135,415       134,552  
    Additional paid-in capital   124,014       122,881  
    Retained earnings   167,792       140,563  
    Accumulated other comprehensive loss   (3,773 )     (5,718 )
    Treasury stock, 2,181,064 shares at September 30, 2024 and December 31, 2023   (21,378 )     (21,378 )
    Total stockholders’ equity   402,070       370,900  
    Total liabilities and stockholders’ equity $ 3,757,653     $ 3,609,327  
                   
    FIRST BANK
    CONSOLIDATED STATEMENTS OF INCOME (LOSS)
    (in thousands, except for share data, unaudited)
     
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
      2024   2023   2024   2023
    Interest and Dividend Income                      
    Investment securities—taxable $ 1,201     $ 1,151     $ 3,661     $ 3,128  
    Investment securities—tax-exempt   35       86       109       158  
    Interest bearing deposits with banks, Federal funds sold and other   3,972       2,593       10,479       6,029  
    Loans, including fees   50,957       46,088       151,039       111,536  
    Total interest and dividend income   56,165       49,918       165,288       120,851  
                           
    Interest Expense                      
    Deposits   23,081       18,470       66,253       40,574  
    Borrowings   2,550       1,914       6,859       4,939  
    Subordinated debentures   440       940       1,224       1,821  
    Total interest expense   26,071       21,324       74,336       47,334  
    Net interest income   30,094       28,594       90,952       73,517  
    Credit loss expense   1,579       6,650       944       8,237  
    Net interest income after credit loss expense   28,515       21,944       90,008       65,280  
                           
    Non-Interest Income                      
    Service fees on deposit accounts   362       280       1,056       741  
    Loan fees   218       152       437       259  
    Income from bank-owned life insurance   1,819       544       3,213       1,291  
    Losses on sale of investment securities, net   (555 )     (527 )     (555 )     (734 )
    Gains (losses) on sale of loans, net   135       (704 )     (536 )     (393 )
    Gains on recovery of acquired loans   35       24       209       95  
    Other non-interest income   465       424       1,308       1,026  
    Total non-interest income   2,479       193       5,132       2,285  
                           
    Non-Interest Expense                      
    Salaries and employee benefits   10,175       9,326       30,181       25,320  
    Occupancy and equipment   2,080       1,915       6,188       5,107  
    Legal fees   245       270       801       671  
    Other professional fees   943       631       2,628       1,880  
    Regulatory fees   728       595       1,970       1,345  
    Directors’ fees   272       224       784       631  
    Data processing   800       907       2,355       2,206  
    Marketing and advertising   310       220       983       693  
    Travel and entertainment   233       140       762       519  
    Insurance   245       272       740       624  
    Other real estate owned expense, net   662       –       879       38  
    Merger-related expenses   –       7,028       –       7,710  
    Other expense   1,951       1,958       6,136       4,020  
    Total non-interest expense   18,644       23,486       54,407       50,764  
    Income Before Income Taxes   12,350       (1,349 )     40,733       16,801  
    Income tax expense   4,188       (78 )     8,986       4,284  
    Net Income (loss) $ 8,162     $ (1,271 )   $ 31,747     $ 12,517  
                           
    Basic earnings (loss) per common share $ 0.32     $ (0.05 )   $ 1.26     $ 0.60  
    Diluted earnings (loss) per common share $ 0.32     $ (0.05 )   $ 1.26     $ 0.59  
                           
    Basic weighted average common shares outstanding   25,172,927       23,902,478       25,114,685       20,928,847  
    Diluted weighted average common shares outstanding   25,342,462       23,902,478       25,265,250       21,057,655  
                                   
    FIRST BANK
    AVERAGE BALANCE SHEETS WITH INTEREST AND AVERAGE RATES
    (dollars in thousands, unaudited)
     
      Three Months Ended September 30,
      2024   2023
      Average         Average   Average         Average
      Balance   Interest   Rate(5)   Balance   Interest   Rate(5)
    Interest earning assets                                
    Investment securities (1) (2) $ 137,216     $ 1,244     3.61 %   $ 169,244     $ 1,255       2.94 %
    Loans (3)   3,010,116       50,957     6.73 %     3,003,703       46,088       6.09 %
    Interest bearing deposits with banks,                                
    Federal funds sold and other   265,474       3,593     5.38 %     182,128       2,395       5.22 %
    Restricted investment in bank stocks   12,768       257     8.01 %     10,284       196       7.56 %
    Other investments   12,776       122     3.80 %     9,162       2       0.09 %
    Total interest earning assets (2)   3,438,350       56,173     6.50 %     3,374,521       49,936       5.87 %
    Allowance for credit losses   (36,612 )               (41,216 )            
    Non-interest earning assets   271,105                 232,045              
    Total assets $ 3,672,843               $ 3,565,350              
                                     
    Interest bearing liabilities                                
    Interest bearing demand deposits $ 587,045     $ 3,974     2.69 %   $ 674,417     $ 4,038       2.38 %
    Money market deposits   1,064,045       10,573     3.95 %     952,042       8,386       3.49 %
    Savings deposits   149,057       563     1.50 %     174,412       490       1.11 %
    Time deposits   690,723       7,902     4.55 %     655,288       5,556       3.36 %
    Total interest bearing deposits   2,490,870       23,012     3.68 %     2,456,159       18,470       2.98 %
    Borrowings   206,588       2,550     4.91 %     163,746       1,914       4.64 %
    Subordinated debentures   29,908       440     5.88 %     51,101       940       7.36 %
    Total interest bearing liabilities   2,727,366       26,002     3.79 %     2,671,006       21,324       3.17 %
    Non-interest bearing deposits   506,084                 507,866              
    Other liabilities   40,858                 33,106              
    Stockholders’ equity   398,535                 353,372              
    Total liabilities and stockholders’ equity $ 3,672,843               $ 3,565,350              
    Net interest income/interest rate spread (2)         30,171     2.71 %           28,612       2.70 %
    Net interest margin (2) (4)             3.49 %                 3.36 %
    Tax equivalent adjustment (2)         (8 )               (18 )      
    Net interest income       $ 30,163               $ 28,594        
                                         

    (1) Average balance of investment securities available for sale is based on amortized cost. 
    (2) Interest and average rates are presented on a tax equivalent basis using a federal income tax rate of 21%. 
    (3) Average balances of loans include loans on nonaccrual status. 
    (4) Net interest income divided by average total interest earning assets. 
    (5) Annualized.

    FIRST BANK
    AVERAGE BALANCE SHEETS WITH INTEREST AND AVERAGE RATES
    (dollars in thousands, unaudited)
     
      Nine Months Ended September 30,
      2024   2023
      Average         Average   Average         Average
      Balance   Interest   Rate(5)   Balance   Interest   Rate(5)
    Interest earning assets                              
    Investment securities (1) (2) $ 143,528     $ 3,793     3.53 %   $ 155,128     $ 3,319     2.86 %
    Loans (3)   2,995,895       151,039     6.73 %     2,590,409       111,536     5.76 %
    Interest bearing deposits with banks,                              
    Federal funds sold and other   231,171       9,404     5.43 %     143,922       5,403     5.02 %
    Restricted investment in bank stocks   11,461       699     8.15 %     9,327       454     6.51 %
    Other investments   12,262       376     4.10 %     8,902       172     2.58 %
    Total interest earning assets (2)   3,394,317       165,311     6.51 %     2,907,688       120,884     5.56 %
    Allowance for credit losses   (37,000 )               (33,664 )          
    Non-interest earning assets   265,368                 174,246            
    Total assets $ 3,622,685               $ 3,048,270            
                                   
    Interest bearing liabilities                              
    Interest bearing demand deposits $ 599,025     $ 11,453     2.55 %   $ 445,318     $ 6,492     1.95 %
    Money market deposits   1,046,911       30,921     3.95 %     840,688       20,177     3.21 %
    Savings deposits   156,416       1,756     1.50 %     155,370       1,202     1.03 %
    Time deposits   680,194       22,054     4.33 %     586,827       12,703     2.89 %
    Total interest bearing deposits   2,482,546       66,184     3.56 %     2,028,203       40,574     2.67 %
    Borrowings   181,844       6,859     5.04 %     149,042       4,939     4.43 %
    Subordinated debentures   34,071       1,224     4.79 %     36,949       1,821     6.57 %
    Total interest bearing liabilities   2,698,461       74,267     3.68 %     2,214,194       47,334     2.86 %
    Non-interest bearing deposits   494,971                 490,211            
    Other liabilities   41,971                 29,939            
    Stockholders’ equity   387,282                 313,926            
    Total liabilities and stockholders’ equity $ 3,622,685               $ 3,048,270            
    Net interest income/interest rate spread (2)         91,044     2.83 %           73,550     2.70 %
    Net interest margin (2) (4)             3.58 %               3.38 %
    Tax equivalent adjustment (2)         (23 )               (33 )    
    Net interest income       $ 91,021               $ 73,517      
                                       

    (1) Average balance of investment securities available for sale is based on amortized cost.
    (2) Interest and average rates are presented on a tax equivalent basis using a federal income tax rate of 21%.
    (3) Average balances of loans include loans on nonaccrual status.
    (4) Net interest income divided by average total interest earning assets.
    (5) Annualized.

    FIRST BANK
    QUARTERLY FINANCIAL HIGHLIGHTS
    (in thousands, except for share and employee data, unaudited)
     
      As of or For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    EARNINGS                            
    Net interest income $ 30,094     $ 30,540     $ 30,318     $ 30,999     $ 28,594  
    Credit loss (benefit) expense   1,579       63       (698 )     (294 )     6,650  
    Non-interest income   2,479       689       1,964       (3,000 )     193  
    Non-interest expense   18,644       17,953       17,810       17,936       23,486  
    Income tax expense   4,188       2,140       2,658       1,977       (78 )
    Net income   8,162       11,073       12,512       8,380       (1,271 )
                                 
    PERFORMANCE RATIOS                            
    Return on average assets (1)   0.88 %     1.23 %     1.41 %     0.93 %     (0.14 %)
    Adjusted return on average assets (1) (2)   0.93 %     1.31 %     1.39 %     1.38 %     1.07 %
    Return on average equity (1)   8.15 %     11.52 %     13.36 %     9.06 %     (1.43 %)
    Adjusted return on average equity (1) (2)   8.56 %     12.26 %     13.17 %     13.38 %     10.75 %
    Return on average tangible equity (1) (2)   9.42 %     13.40 %     15.64 %     10.67 %     (1.66 %)
    Adjusted return on average tangible equity (1) (2)   9.89 %     14.26 %     15.41 %     15.75 %     12.50 %
    Net interest margin (1) (3)   3.49 %     3.62 %     3.64 %     3.68 %     3.36 %
    Yield on loans (1)   6.73 %     6.81 %     6.66 %     6.49 %     6.09 %
    Total cost of deposits (1)   3.05 %     3.01 %     2.83 %     2.63 %     2.47 %
    Efficiency ratio (2)   58.49 %     55.88 %     55.56 %     53.79 %     54.83 %
                                 
    SHARE DATA                            
    Common shares outstanding   25,186,920       25,144,983       25,096,449       24,968,122       24,926,919  
    Basic earnings per share $ 0.32     $ 0.44     $ 0.50     $ 0.34     $ (0.05 )
    Diluted earnings per share   0.32       0.44       0.50       0.33       (0.05 )
    Adjusted diluted earnings per share (2)   0.34       0.47       0.49       0.49       0.40  
    Book value per share   15.96       15.61       15.23       14.85       14.48  
    Tangible book value per share (2)   13.84       13.46       13.06       12.65       12.26  
                                 
    MARKET DATA                            
    Market value per share $ 15.20     $ 12.74     $ 13.74     $ 14.70     $ 10.78  
    Market value / Tangible book value   109.83 %     94.65 %     105.20 %     116.18 %     87.96 %
    Market capitalization $ 382,841     $ 320,347     $ 344,825     $ 367,031     $ 268,712  
                                 
    CAPITAL & LIQUIDITY                            
    Stockholders’ equity / assets   10.70 %     10.86 %     10.64 %     10.28 %     10.15 %
    Tangible stockholders’ equity / tangible assets (2)   9.41 %     9.50 %     9.27 %     8.89 %     8.72 %
    Loans / deposits   101.23 %     101.02 %     100.75 %     101.82 %     101.80 %
                                 
    ASSET QUALITY                            
    Net charge-offs $ 386     $ 175     $ 5,293     $ 209     $ 1,122  
    Net charge-offs (recoveries), excluding PCD loan charge-off (4)   386       175       (201 )     209       1,122  
    Nonperforming loans   12,014       14,227       17,054       24,989       24,158  
    Nonperforming assets   17,651       20,226       23,053       24,989       24,158  
    Net charge offs / average loans (1)   0.05 %     0.02 %     0.72 %     0.03 %     0.15 %
    Net charge offs (recoveries), excluding PCD loan charge-off / average loans (1) (4)   0.05 %     0.02 %     (0.03 %)     0.03 %     0.15 %
    Nonperforming loans / total loans   0.39 %     0.47 %     0.57 %     0.83 %     0.80 %
    Nonperforming assets / total assets   0.47 %     0.56 %     0.64 %     0.69 %     0.68 %
    Allowance for credit losses on loans / total loans   1.21 %     1.21 %     1.22 %     1.40 %     1.42 %
    Allowance for credit losses on loans / nonperforming loans   311.59 %     254.81 %     213.42 %     169.66 %     177.50 %
                                 
    OTHER DATA                            
    Total assets $ 3,757,653     $ 3,615,731     $ 3,591,398     $ 3,609,327     $ 3,558,426  
    Total loans   3,087,488       2,998,029       2,992,423       3,021,501       3,020,778  
    Total deposits   3,050,070       2,967,634       2,970,262       2,967,569       2,967,455  
    Total stockholders’ equity   402,070       392,489       382,254       370,900       361,037  
    Number of full-time equivalent employees   313       294       288       286       286  
                                           

    (1) Annualized.
    (2) Non-U.S. GAAP financial measure that we believe provides management and investors with information that is useful in understanding our financial performance and condition.  See accompanying table, “Non-U.S. GAAP Financial Measures,” for calculation and reconciliation.
    (3) Tax equivalent using a federal income tax rate of 21%.
    (4) Excludes $5.5 million in a PCD loan charge-off in first quarter of 2024, which was reserved for through purchase accounting marks at the time of the Malvern acquisition.

    FIRST BANK
    QUARTERLY FINANCIAL HIGHLIGHTS
    (dollars in thousands, unaudited)
     
      As of the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    LOAN COMPOSITION                            
    Commercial and industrial $ 546,541     $ 530,996     $ 508,911     $ 506,849     $ 478,120  
    Commercial real estate:                            
    Owner-occupied   688,988       647,625       625,643       612,352       607,888  
    Investor   1,170,508       1,143,954       1,172,311       1,221,702       1,269,134  
    Construction and development   193,460       190,108       184,816       186,829       168,192  
    Multi-family   267,861       270,238       279,668       271,058       275,825  
    Total commercial real estate   2,320,817       2,251,925       2,262,438       2,291,941       2,321,039  
    Residential real estate:                            
    Residential mortgage and first lien home equity loans   143,953       144,978       154,704       156,024       158,487  
    Home equity–second lien loans and revolving lines of credit   49,891       46,882       45,869       44,698       46,239  
    Total residential real estate   193,844       191,860       200,573       200,722       204,726  
    Consumer and other   29,518       26,321       23,702       25,343       20,208  
    Total loans prior to deferred loan fees and costs   3,090,720       3,001,102       2,995,624       3,024,855       3,024,093  
    Net deferred loan fees and costs   (3,232 )     (3,073 )     (3,201 )     (3,354 )     (3,315 )
    Total loans $ 3,087,488     $ 2,998,029     $ 2,992,423     $ 3,021,501     $ 3,020,778  
                                 
    LOAN MIX                            
    Commercial and industrial   17.7 %     17.7 %     17.0 %     16.8 %     15.8 %
    Commercial real estate:                            
    Owner-occupied   22.3 %     21.6 %     20.9 %     20.3 %     20.1 %
    Investor   37.9 %     38.2 %     39.2 %     40.4 %     42.0 %
    Construction and development   6.3 %     6.3 %     6.2 %     6.2 %     5.6 %
    Multi-family   8.7 %     9.0 %     9.3 %     9.0 %     9.1 %
    Total commercial real estate   75.2 %     75.1 %     75.6 %     75.9 %     76.8 %
    Residential real estate:                            
    Residential mortgage and first lien home equity loans   4.7 %     4.8 %     5.2 %     5.1 %     5.3 %
    Home equity–second lien loans and revolving lines of credit   1.6 %     1.6 %     1.5 %     1.5 %     1.5 %
    Total residential real estate   6.3 %     6.4 %     6.7 %     6.6 %     6.8 %
    Consumer and other   0.9 %     0.9 %     0.8 %     0.8 %     0.7 %
    Net deferred loan fees and costs   (0.1 %)     (0.1 %)     (0.1 %)     (0.1 %)     (0.1 %)
    Total loans   100.0 %     100.0 %     100.0 %     100.0 %     100.0 %
                                           
    FIRST BANK
    QUARTERLY FINANCIAL HIGHLIGHTS
    (dollars in thousands, unaudited)
     
      As of the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    DEPOSIT COMPOSITION                            
    Non-interest bearing demand deposits $ 519,079     $ 499,765     $ 470,749     $ 501,763     $ 493,703  
    Interest bearing demand deposits   597,802       574,515       580,864       629,110       623,338  
    Money market and savings deposits   1,235,637       1,199,382       1,219,634       1,171,440       1,228,832  
    Time deposits   697,552       693,972       699,015       665,256       621,582  
    Total Deposits $ 3,050,070     $ 2,967,634     $ 2,970,262     $ 2,967,569     $ 2,967,455  
                                 
    DEPOSIT MIX                            
    Non-interest bearing demand deposits   17.0 %     16.8 %     15.8 %     16.9 %     16.6 %
    Interest bearing demand deposits   19.6 %     19.4 %     19.6 %     21.2 %     21.0 %
    Money market and savings deposits   40.5 %     40.4 %     41.1 %     39.5 %     41.4 %
    Time deposits   22.9 %     23.4 %     23.5 %     22.4 %     21.0 %
    Total Deposits   100.0 %     100.0 %     100.0 %     100.0 %     100.0 %
                                           
    FIRST BANK
    NON-U.S. GAAP FINANCIAL MEASURES
    (in thousands, except for share data, unaudited)
     
      As of or For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Return on Average Tangible Equity                            
    Net income (numerator) $ 8,162     $ 11,073     $ 12,512     $ 8,380     $ (1,271 )
                                 
    Average stockholders’ equity $ 398,535     $ 386,644     $ 376,542     $ 366,950     $ 353,372  
    Less: Average Goodwill and other intangible assets, net   53,823       54,347       54,790       55,324       49,491  
    Average Tangible stockholders’ equity (denominator) $ 344,712     $ 332,297     $ 321,752     $ 311,626     $ 303,881  
                                 
    Return on Average Tangible equity (1)   9.42 %     13.40 %     15.64 %     10.67 %     -1.66 %
                                 
    Tangible Book Value Per Share                            
    Stockholders’ equity $ 402,070     $ 392,489     $ 382,254     $ 370,900     $ 361,037  
    Less: Goodwill and other intangible assets, net   53,484       54,026       54,483       54,978       55,554  
    Tangible stockholders’ equity (numerator) $ 348,586     $ 338,463     $ 327,771     $ 315,922     $ 305,483  
                                 
    Common shares outstanding (denominator)   25,186,920       25,144,983       25,096,449       24,968,122       24,926,919  
                                 
    Tangible book value per share $ 13.84     $ 13.46     $ 13.06     $ 12.65     $ 12.26  
                                 
    Tangible Equity / Tangible Assets                            
    Stockholders’ equity $ 402,070     $ 392,489     $ 382,254     $ 370,900     $ 361,037  
    Less: Goodwill and other intangible assets, net   53,484       54,026       54,483       54,978       55,554  
    Tangible stockholders’ equity (numerator) $ 348,586     $ 338,463     $ 327,771     $ 315,922     $ 305,483  
                                 
    Total assets $ 3,757,653     $ 3,615,731     $ 3,591,398     $ 3,609,327     $ 3,558,426  
    Less: Goodwill and other intangible assets, net   53,484       54,026       54,483       54,978       55,554  
    Tangible total assets (denominator) $ 3,704,169     $ 3,561,705     $ 3,536,915     $ 3,554,349     $ 3,502,872  
                                 
    Tangible stockholders’ equity / tangible assets   9.41 %     9.50 %     9.27 %     8.89 %     8.72 %
                                 
    Efficiency Ratio                            
    Non-interest expense $ 18,644     $ 17,953     $ 17,810     $ 17,936     $ 23,486  
    Less: Merger-related expenses   –       –       –       338       7,028  
    Adjusted non-interest expense (numerator) $ 18,644     $ 17,953     $ 17,810     $ 17,598     $ 16,458  
                                 
    Net interest income $ 30,094     $ 30,540     $ 30,318     $ 30,999     $ 28,594  
    Non-interest income   2,479       689       1,964       (3,000 )     193  
    Total revenue   32,573       31,229       32,282       27,999       28,787  
    Add: Losses on sale of investment securities, net   555       –       –       916       527  
    (Subtract) Add: (Gains) losses on sale of loans, net   (135 )     900       (229 )     3,799       704  
    Less: Bank Owned Life Insurance Enhancement   (1,116 )     –       –       –       –  
    Adjusted total revenue (denominator) $ 31,877     $ 32,129     $ 32,053     $ 32,714     $ 30,018  
                                 
    Efficiency ratio   58.49 %     55.88 %     55.56 %     53.79 %     54.83 %
                                           

    (1) Annualized.

    FIRST BANK
    NON-U.S. GAAP FINANCIAL MEASURES
    (dollars in thousands, except for share data, unaudited)
     
      For the Quarter Ended
      9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
                                 
    Adjusted diluted earnings per share,                            
    Adjusted return on average assets, and                            
    Adjusted return on average equity                            
                                 
    Net income $ 8,162     $ 11,073     $ 12,512     $ 8,380     $ (1,271 )
    Add: Merger-related expenses(1)   –       –       –       267       5,552  
    Add: Credit loss expense on acquired loan portfolio(1)   –       –       –       –       4,323  
    Add (subtract): Losses (gains) on sale of loans, net(1)   (107 )     711       (181 )     3,001       556  
    Add: Losses on sale of investment securities, net(1)   438       –       –       724       416  
    Add: Net Impact of Bank Owned Life Insurance Restructuring(2)   79       –       –       –       –  
    Adjusted net income $ 8,572     $ 11,784     $ 12,331     $ 12,372     $ 9,576  
                                 
    Diluted weighted average common shares outstanding   25,342,462       25,258,785       25,199,381       25,089,495       24,029,910  
    Average assets $ 3,672,843     $ 3,618,912     $ 3,575,748     $ 3,561,261     $ 3,565,350  
    Average equity $ 398,535     $ 386,644     $ 376,542     $ 366,950     $ 353,372  
    Average Tangible Equity $ 344,712     $ 332,297     $ 321,752     $ 311,626     $ 303,881  
                                 
    Adjusted diluted earnings per share $ 0.34     $ 0.47     $ 0.49     $ 0.49     $ 0.40  
    Adjusted return on average assets(3)   0.93 %     1.31 %     1.39 %     1.38 %     1.07 %
    Adjusted return on average equity(3)   8.56 %     12.26 %     13.17 %     13.38 %     10.75 %
    Adjusted return on average tangible equity(3)   9.89 %     14.26 %     15.41 %     15.75 %     12.50 %
                                           

    (1) Items are tax-effected using a federal income tax rate of 21%.
    (2) Includes the net impact of the new Bank Owned Life Insurance enhancement and the increased tax expense on the terminated policies.
    (3) Annualized.

    The MIL Network –

  • MIL-OSI USA: Hold DOJ Accountable for Failure to Prosecute Noncitizen Voter Registration

    US Senate News:

    Source: United States Senator for Wisconsin Ron Johnson

    It should be obvious to everyone — even Democrats — that we should prevent illegal immigrants from voting. Unfortunately, most Democrats in Congress do not agree. I was happy to cosponsor the SAVE Act in the Senate. This legislation aimed to secure our elections by requiring proof of citizenship to vote. It passed in the House, but not the Senate.

    On October 2, I joined Republican colleagues in a letter to U.S. Attorney General Merrick Garland exposing the Department of Justice’s (DOJ) failure to prevent noncitizens from registering to vote in America’s federal elections and its refusal to prosecute those who have done so. 

    We need more information about the incidence of noncitizens registering to vote, and steps that the DOJ is taking to deal with the issue and secure U.S. elections.

    In recent weeks, I have written two op-eds highlighting my concerns with election integrity. I urge you to read both.

    The Daily Caller: FBI Ignoring Real Threats To Election Integrity

    The Federalist: Democrat-Controlled States Refuse To Clean Voter Rolls And Fix Election Problems

    Under the Biden-Harris administration, more than 500,000 unaccompanied migrant children have crossed the southwest border without a parent or guardian to provide care.

    Last month, I joined a letter to President Biden and Vice President Harris calling out abuses in their Unaccompanied Migrant Children Program, namely the Department of Health and Human Services (HHS)’s cover-up of the crisis. HHS has failed to comply with two out of three Department of Homeland Security subpoenas and other information requests issued amid its investigation into more than 100 suspicious sponsors.

    The Biden-Harris administration limited background checks for sponsors of unaccompanied children, cut back on familial DNA testing at the border, and decreased information sharing with law enforcement.

    Cartel trafficking activity surged an estimated 2,500% from the Trump administration to the middle of the Biden-Harris term in 2022.  

    I joined another letter demanding Biden and Harris collect DNA samples from every immigrant the Department of Homeland Security (DHS) encounters, per the DNA Fingerprint Act of 2005. DHS missed three separate opportunities to gather DNA from the illegal immigrant who murdered Rachel Morin, a Maryland mother of five.

    MILTON: The Milton Area Chamber of Commerce hosted a town hall at the Milton House Museum. Before the event, I took a fascinating tour of Wisconsin’s only certified Underground Railroad site which is designated a National Historic Landmark.

    REESEVILLE:  Caine Warehousing hosted a town hall at their Dodge County campus. It was an honor to meet the three generations of Caines who run this successful family business. 

    WATERTOWN:  American Disposal and Lueck Recycling, another family run business, hosted a town hall at their facility. People are very concerned about open borders, the economy, and parental rights. 

    WATERTOWN: I always look forward to my visits to Maranatha Baptist University. I held a meeting with campus leadership and then answered questions from students, staff, and community members.  

    WHITEWATER: I enjoyed meeting with students at the University of Wisconsin Whitewater. When asked by a campus reporter about my main message for young people, I responded “jealously guard your freedom.” 

    MIL OSI USA News –

  • MIL-OSI USA: Boyle Statement on Vandalism of Congregation Mikveh Israel

    Source: United States House of Representatives – Congressman Brendan Boyle (13th District of Pennsylvania)

    WASHINGTON, D.C. — Today, Congressman Brendan F. Boyle (PA-02) released the following statement on the recent vandalism and arson of the historic Congregation Mikveh Israel synagogue in his district:

    “I am appalled by the disgraceful vandalism and arson of the historic Congregation Mikveh Israel synagogue. I hope the perpetrator is quickly brought to justice and urge anyone with information to submit a tip to the Philadelphia Police Department. Philadelphia stands united against hatred and antisemitism, and we all have a responsibility to combat the unacceptable rise in antisemitism that our Jewish community has faced over the past year.”

    A surveillance photo and information on how to submit a tip to the Philadelphia Police Department can be found here.

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    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta Announces Awardees of 2024-2025 Tobacco Grant Program, Seizure of $1 Million of Illegal Flavored Tobacco Products

    Source: US State of California Department of Justice

    OAKLAND – California Attorney General Rob Bonta today announced the recipients of the California Department of Justice (DOJ)’s Fiscal Year 2024-2025 Proposition 56 Tobacco Grant Program. The grant recipients are 76 local government agencies located throughout the state, including law enforcement agencies, prosecuting agencies, public health departments, cities and counties that will receive more than $28.5 million to support their efforts to reduce illegal tobacco sales to underage youth. This year’s funding prioritized retail enforcement and education as part of Attorney General Bonta’s commitment to fighting the illegal sales and marketing of tobacco products to minors. Funded activities include “flavor ban” enforcement efforts, shoulder tap and minor decoy operations, retailer education programs, tobacco retail license inspections, task force coordination, training for officers on tobacco laws and ordinances, monitoring retailer compliance, and more.

    The Attorney General also announced the results of Operation Up in Smoke, the DOJ’s first-ever statewide retail tobacco enforcement operation. The operation targeted and seized illegal flavored tobacco products at retail locations and cited retailers who sell these products to minors. Fourteen local agencies, who were current and past recipients of the DOJ Tobacco Grant program, and two other state agencies were part of this year’s operation.

    “The alarming rise in youth exposure to nicotine, particularly though vaping and e-cigarette demands urgent and decisive action. At the California Department of Justice, we are doing just that and reaffirming our commitment to safeguarding youth from the harmful effects of nicotine products through strict enforcement,” said Attorney General Rob Bonta. “Our enforcement operation shows firsthand how we crack down on the sale and distribution of illegal tobacco products. Funds from today’s grants to partners across the state will allow us to continue holding accountable those who break the law, and ensure a healthier, safer future for the next generation.”

    “We look forward to our continued partnership with California Attorney General Rob Bonta and the Department of Justice to keep our community healthy and safe,” said Fresno City Attorney Andrew Janz. “In the City of Fresno, 85% of our schools have a smoke shop within a 1000-foot radius who routinely sell products that are designed by appearance and taste to appeal to minors.  This funding allows the City of Fresno to continue safeguarding our youth, preventing them from becoming the next generation of lifelong tobacco users.”

    “Everyone knows that tobacco products are marketed to teenagers to try to get them addicted at a young age,” said Long Beach City Prosecutor Doug Haubert. “In Long Beach, we are working with our law enforcement and health department partners to stop the sale of tobacco products to youth.  We are going to increase enforcement, especially targeting retailers who have a history of violations. We appreciate the opportunity to partner with California DOJ and Attorney General Rob Bonta as part of this statewide effort.”

    “The City of Vallejo is looking forward to utilizing this incredible $932,000 Tobacco Grant from the Department of Justice to help us with issues surrounding tobacco use by minors,” said Assistant City Manager of Vallejo Gillian Haen. “This generous grant will help our City with enforcement actions from retail inspections through enforcement as well as retailer and code enforcement education.”

    “The Modesto Police Department is thrilled to have received funding through the DOJ for Tobacco Enforcement,” said Modesto Police Department. “This support highlights our urgent need to combat the rising rates of tobacco use among youth in our community, particularly the alarming appeal of flavored tobacco products. We have already seen the overwhelming amount of these products in our city, and this grant will significantly enhance our enforcement efforts and educational initiatives and hold those accountable for targeting these harmful products that pose a significant risk to our children’s health. Additionally, we will address the criminal element that often surrounds tobacco retail stores, working to reduce illegal activities that compromise the safety of our neighborhoods. In collaboration with the Stanislaus County District Attorney’s Office, the City Attorney’s Office, and our community, we are committed to a comprehensive approach through enforcement, education, and prosecution. Together, we will create a safer environment for our youth and foster a healthier community.”

    “This grant gives us the tools to crackdown on those who sell tobacco and nicotine, including banned flavored tobacco products, to minors,” said Chula Vista Police Department. “This grant also gives CVPD the opportunity to conduct operations to gather information on persons selling narcotics to the public in licensed tobacco retail stores. By joining forces with the DOJ, we will be able to target and hold responsible anyone who harms our community and our youth under the guise of legitimate businesses.”

    “This grant will enable the City of Rancho Cordova to make significant progress in reducing the use of flavored tobacco products among the youth in the community,” said City of Rancho Cordova. “The city’s Code Enforcement team will carry out a comprehensive operation, engaging with every tobacco retailer in the city to provide education and resources aimed at ensuring compliance.”

    Tobacco use is the number one preventable killer in the United States. Smoking-related illness accounts for approximately 40,000 deaths annually in California. Nicotine, a key component of cigarettes and most e-cigarettes, is highly addictive and harmful to the developing brains of children and young adults.

    DOJ’s Tobacco Grant Program aims to reduce childhood addiction to tobacco products by supporting local partners who:

    • Enforce the statewide retail flavor ban and similar local retail flavor ordinances.
    • Prosecute and penalize retailers who sell or market tobacco products to youth under the age of 21, including over the internet.
    • Educate and inform tobacco retailers on state and local tobacco laws.
    • Investigate and inspect for retailer licensing compliance.

    The program is funded by Proposition 56, the California Healthcare, Research and Prevention Tobacco Tax Act of 2016. With this year’s awards, the Tobacco Grant Program has distributed approximately $212 million in grant funding to over 470 grantees through a competitive process.

    Operation Up in Smoke resulted in the seizure of at least 50,000 illegal flavored tobacco products amounting to over $1,000,000 in value. Unstamped cigarettes, counterfeit stamps, non-MSA cigarettes, cannabis, and illegal gambling machines, were also items seized in this operation. The following state and local agencies were involved in this year’s operation: California Department of Justice: Tobacco Unit and Tax Recovery in the Underground Economy (TRUE); California Department of Public Health – Office of Youth Tobacco Enforcement (OYTE); California Department of Tax and Fee Administration – Tax Investigations and Inspections Bureau (CDTFA); Alameda County Sheriff’s Office; Calistoga Police Department; Chula Vista Police Department; Clovis Police Department; Inglewood Police Department; Irvine Police Department; Los Angeles City Attorney’s Office; Long Beach City Prosecutor; Riverside Sheriff’s Department; Sacramento County Sheriff’s Office; Santa Cruz Police Department; County of San Diego Health and Human Services Agency; Shasta County Health and Human Services Agency; Sonoma County Department of Health Service.

    To see the full list of 2024-2025 Tobacco Grant Program recipients and learn more about the grant application process and qualifications, please click here.

    To see further details about this year’s Operation Up in Smoke, please click here.

    MIL OSI USA News –

  • MIL-OSI Security: Los Angeles County Man Sentenced to 12 Years and 9 Months in Prison for Child Exploitation Conspiracy with Yuba County Man

    Source: Office of United States Attorneys

    SACRAMENTO, Calif. — Pedro Luis Millan, aka Peter Millan, 38, of Montebello, was sentenced today by U.S. District Judge Daniel J. Calabretta to 12 years and nine months in prison for conspiracy to sexually exploit a child, U.S. Attorney Phillip A. Talbert announced.

    According to court documents, in May 2021, Millan conspired with Brent Hooton, 51, of Marysville, to produce an image of a severely autistic child who was under the age of 12 engaged in sexually explicit conduct. Hooton produced the image and then sent it to Millan and other users over the Kik messaging app. Millan received that image, as well as additional sexual abuse images of the same child victim, from Hooton over the Kik app.

    This case was the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorney Denise N. Yasinow prosecuted the case.

    On Aug. 27, 2024, Hooton was sentenced to 27 years in prison for sexual exploitation of a child and distribution of child pornography.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute those who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.usdoj.gov/psc. Click on the “resources” tab for information about internet-safety education.

    MIL Security OSI –

  • MIL-OSI Security: Long Island Child Therapist Charged with Distribution of Child Pornography

    Source: Office of United States Attorneys

    Earlier today, Renee Hoberman, a licensed social worker, was arrested on charges of distribution of child pornography.  The defendant was arraigned this afternoon at the federal courthouse in Central Islip before United States Magistrate Judge Arlene R. Lindsay on a complaint and ordered detained.

    Breon Peace, United States Attorney for the Eastern District of New York, and William S. Walker, Special Agent in Charge, Homeland Security Investigations, New York (HSI) and Patrick Ryder, Commissioner, Nassau County Police Department announced the charges.

    “As alleged, Hoberman distributed heinous and disturbing child pornography, including videos showing infants being restrained and raped.  Additionally, while posing as a man, Hoberman, who is a therapist serving children, claimed to have produced child pornography and offered others the opportunity to sexually abuse children,” stated United States Attorney Peace.  “Our investigation into Hoberman is ongoing, and we urge anyone with information to contact HSI’s tip line.  Together with our law enforcement partners, we will relentlessly pursue predators who victimize children and prosecute them to the fullest extent of the law.”

    “This case is an example of the vital work our investigators do every day in cooperation with our dedicated partners in federal law enforcement,” said Nassau County Police Commissioner Patrick Ryder. “The hard working and diligent detectives of the Nassau County Police Department will continue to work tirelessly to protect the innocent, and we will never stop fighting to bring those who victimize children to justice.”

    As set forth in the complaint, between June 2024 and October 2024, Hoberman allegedly used social media messaging apps to upload digital videos depicting one or more minors engaging in sexually explicit conduct, including several videos of infants six months to one year of age being physically restrained and raped by an adult male, as the infants cried and frantically screamed for the duration of the videos.  As recently as on or about October 16, 2024, the defendant uploaded child pornography and engaged in multiple chats concerning child sexual molestation.  In these chats, the defendant, purporting to be a man, claimed to have multiple minor children and stated that “he” would have anal sex with the children and would punish them by getting naked, stripping the children naked, and spanking them while the other children watched.  The defendant invited another user to visit “his” family in New York to spank the children.  In addition, the defendant described sexually abusing “his” children and their friends, and then sent two videos containing child sexual abuse material, claiming that these videos depicted the user’s own children.

    According to public records and as alleged in the complaint, Hoberman works as a therapist with an organization based in Melville, New York and serves children aged 0-17.

    Anyone with information about sexual exploitation by the defendant is asked to contact HSI at HSI’s tip line: (866) 347-2423 or via HSI’s website: https://www.ice.gov/webform/ice-tip-form.

    The charges in the complaint are allegations, and the defendant is presumed innocent unless and until proven guilty.  If convicted, Hoberman faces a mandatory minimum sentence of five years in prison.                       

    This prosecution is part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse.  Led by United States Attorneys’ Offices, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

    The government’s case is being handled by the Criminal Section of the Office’s Long Island Division.  Assistant United States Attorneys James R. Simmons and Russell Noble are in charge of the prosecution.

    The Defendant:

    Renee Hoberman, also known as “Rina Hoberman”
    Age:  36
    Plainview, New York

    E.D.N.Y. Docket No. 24-MJ-588

    MIL Security OSI –