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Category: KB

  • MIL-OSI USA: Relief Still Available to Michigan Small Businesses and Private Nonprofits Affected by Last January’s Drought

    Source: United States Small Business Administration

    The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Michigan of the March 10, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought and excessive heat that began on Jan. 1, 2024. 

    The declaration covers the counties of Cheboygan, Chippewa, Emmet, Luce, Mackinac and Schoolcraft.  

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.   

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.  

    To apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    Submit completed loan applications to SBA no later than March 10, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI Australia: Australian Deputy PM: Entries open for 39th Local Government Awards

    Source: Minister of Infrastructure

    Nominations are now open for the 2025 National Awards for Local Government, an annual celebration and recognition of locally-led innovation. 

    The awards, now in their 39th year, will honour local councils across a total of 13 categories.

    This year there will be two new categories: 

    • Affordable housing – recognising leaders and projects which address housing needs from a policy, planning, social or infrastructure perspective, and
    • Outstanding rural and remote council – honouring the achievements of smaller, more remote or rural councils who have entered the main awards categories.  

    Nearly 12,000 votes were cast during the 2024 awards, where 121 councils were represented across a pool of 144 nominations. 

    These included winning projects such as the Armidale Regional Council’s Girls in Civil program, the City of Launceston’s public Wi-Fi network rollout, and Wyndham City Council’s LIT light experience. 

    All elected local government organisations and associations, and other recognised organisations that provide direct services to Australian communities, are eligible to submit entries until 17 March at: https://www.infrastructure.gov.au/territories-regions-cities/local-government/national-awards-local-government

    Voting will then be open to councils and the broader public from 18 March to 18 April, with winners in each category announced later in the year.

    Quotes attributable to Minister for Local Government, Kristy McBain MP:

    “The National Awards for Local Government are an important event on the calendars of councils across Australia.

    “Last year we had 144 incredible nominations from every corner of the country, and even though that’s amazing, I think that’s underselling what our councils delivered for their communities.

    “We know that our regional councils in particular have unique challenges and large footprints to manage, which is why we’ve introduced a dedicated award to recognise their innovative solutions.

    “Every nomination and every vote represent a job well done for the councils engaging, innovating and delivering at a grassroots level, so get nominating and promote the work of your peers.”

    MONDAY, 10 FEBRUARY 2025

    MEDIA CONTACT: BLAKE DANILCZAK, 0497 204 267 

    MIL OSI News –

  • MIL-OSI Australia: Entries open for 39th Local Government Awards

    Source: Australian Ministers for Regional Development

    Nominations are now open for the 2025 National Awards for Local Government, an annual celebration and recognition of locally-led innovation. 

    The awards, now in their 39th year, will honour local councils across a total of 13 categories.

    This year there will be two new categories: 

    • Affordable housing – recognising leaders and projects which address housing needs from a policy, planning, social or infrastructure perspective, and
    • Outstanding rural and remote council – honouring the achievements of smaller, more remote or rural councils who have entered the main awards categories.  

    Nearly 12,000 votes were cast during the 2024 awards, where 121 councils were represented across a pool of 144 nominations. 

    These included winning projects such as the Armidale Regional Council’s Girls in Civil program, the City of Launceston’s public Wi-Fi network rollout, and Wyndham City Council’s LIT light experience. 

    All elected local government organisations and associations, and other recognised organisations that provide direct services to Australian communities, are eligible to submit entries until 17 March at: https://www.infrastructure.gov.au/territories-regions-cities/local-government/national-awards-local-government

    Voting will then be open to councils and the broader public from 18 March to 18 April, with winners in each category announced later in the year.

    Quotes attributable to Minister for Local Government, Kristy McBain MP:

    “The National Awards for Local Government are an important event on the calendars of councils across Australia.

    “Last year we had 144 incredible nominations from every corner of the country, and even though that’s amazing, I think that’s underselling what our councils delivered for their communities.

    “We know that our regional councils in particular have unique challenges and large footprints to manage, which is why we’ve introduced a dedicated award to recognise their innovative solutions.

    “Every nomination and every vote represent a job well done for the councils engaging, innovating and delivering at a grassroots level, so get nominating and promote the work of your peers.”

    MONDAY, 10 FEBRUARY 2025

    MEDIA CONTACT: BLAKE DANILCZAK, 0497 204 267 

    MIL OSI News –

  • MIL-OSI USA: SBA Relief Still Available to Montana Small Businesses and Private Nonprofits Affected by May Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Montana of the March 10, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began on May 1, 2024.

    The disaster declaration includes the counties of Deer Lodge, Flathead, Granite, Jefferson, Lewis and Clark, Missoula, Powell and Ravalli.

    Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    The loan amount can be up to $2 million with interest rates of 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than March 10.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: MEDIA ADVISORY: HFAC Full Committee Hearing – The USAID Betrayal

    Source: US House Committee on Foreign Affairs

    Media Contact 202-226-8467

    WASHINGTON, D.C. – The House Foreign Affairs Committee will hold a public hearing to examine United States Agency for International Development programs.

    What: Full Committee Hearing

    Date: Thursday, February 13, 2025

    Time: 8:30am ET

    Location: Rayburn 2172

    Subject: The USAID Betrayal

    Witnesses:

    The Honorable Ted Yoho

    Former U.S. Representative

    Florida’s 3rd Congressional District

    Max Primorac

    Former Acting Administrator

    Senior Research Fellow

    Margaret Thatcher Center for Freedom

    The Heritage Foundation

    The Honorable Andrew Natsios

    Former Administrator

    U.S. Agency for International Development

    ***Coverage note: Check here for updates. The hearing will be webcast live here and open to the public and press. Spaces are limited – members of the media who would like to attend in-person should RSVP with with Joe Clark at joseph.clark@mail.house.gov to guarantee a seat. ***

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Dominican National Sentenced for Role in Human Smuggling Event that Resulted in 11 Deaths

    Source: United States Attorneys General 7

    A Dominican national was sentenced today to nine years in prison for his involvement in a deadly human smuggling venture that resulted in the deaths of 11 smuggled aliens.

    According to court documents, on or about the evening of May 12, 2022, Fermin Montilla, 45, piloted a vessel carrying 48 individuals from the Dominican Republic to Puerto Rico, with the intent of bringing those individuals to the United States illegally. At some point during the journey, the vessel took on water and capsized, and 11 people drowned.

    “The defendant attempted to illegally smuggle 48 migrants into the United States, leading to the tragic deaths of 11 people,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “Human smugglers threaten our national security and exploit vulnerable people for profit with no regard for their safety. The Criminal Division is committed to eliminating these transnational criminal smuggling organizations and protecting the public and those who would fall victim to them.”

    “Human smuggling operations not only violate U.S. law and threaten our national security, but they also endanger the lives of the smuggled migrants and result in death as in this case,” said U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico. “The Justice Department and the U.S. Attorney’s Office will continue to work with our federal, state, and local partners to bring those who smuggle illegal aliens to justice and dismantle their criminal organizations.”

    “It is essential to send a strong message to individuals that take advantage of the vulnerable by endangering lives undermining the safety and security of our communities,” said Special Agent in Charge Rebecca Gonzalez-Ramos of Homeland Security Investigations (HSI) San Juan. “In this one incident we lost 11 lives, we need to protect individuals from this heinous crime. We will continue to use all resources to pursue and to bring to justice transnational criminal organizations that jeopardize the safety of others exploiting immigration laws. To those seeking to be smuggled into the United States, please remember that it’s extremely dangerous and is not worth your life, these individuals do not care.”

    On Sept. 13, 2024, Montilla pleaded guilty to one count of bringing aliens to the United States at a place other than a designated port of entry resulting in death.

    HSI San Juan investigated this case, with assistance from U.S. Customs and Border Protection, U.S. Border Patrol, the U.S. Coast Guard, and the Puerto Rico Police Bureau.

    Trial Attorney Angela Buckner of the Criminal Division’s Human Rights and Special Prosecutions Section and U.S. Coast Guard Special Assistant U.S. Attorney Helena Daniel for the District of Puerto Rico prosecuted the case.

    The investigation is being conducted under the Extraterritorial Criminal Travel Strike Force (ECT) program, a joint partnership between the Justice Department’s Criminal Division and HSI. The ECT program focuses on human smuggling networks that may present particular national security or public safety risks, or present grave humanitarian concerns. ECT has dedicated investigative, intelligence and prosecutorial resources. ECT coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    Last June, the Justice Department formally transmitted to Congress a new legislative proposal to increase the recommended penalties for the most prolific and dangerous human smugglers. The proposal, titled the “Deterring Human Smuggling and Harm to Victims Act of 2024,” would amend U.S. Sentencing Guideline 2L1.1, which governs human smuggling offenses, by creating steeper penalty tiers based on the number of people smuggled by the defendant; increasing penalties when the defendant’s conduct results in injury or death to more than one person; and ensuring defendants are subject to sentencing enhancements for sexual assault and other types of prohibited sexual conduct committed during the smuggling offense, even if that conduct occurred outside U.S. jurisdiction. The Department has been working with interested Members of Congress to advance the proposal so that the Sentencing Guidelines accurately account for the full scope of violence that can result from human smuggling.

    MIL Security OSI –

  • MIL-OSI: Outbrain to Release Fourth Quarter and Full Year 2024 Financial Results on February 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Outbrain Inc. (NASDAQ: OB), which is operating under the new Teads brand, today announced that the company will release its fourth quarter and full year 2024 results before the market opens on Thursday, February 27, 2025, followed by a conference call at 8:30 a.m. (Eastern Time) that same day to discuss the company’s results and business outlook.

    The conference call can be accessed live over the phone by dialing 1-877-497-9071 or for international callers, 1-201-689-8727. A replay will be available two hours after the call and can be accessed by dialing 1-877-660-6853, or for international callers, 1-201-612-7415. The passcode for the live call and the replay is 13750872. The replay will be available until March 13, 2025.

    Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company’s website at https://investors.outbrain.com/. The online replay will be available for a limited time shortly following the call.

    About The Combined Company 
    Outbrain Inc. (Nasdaq: OB) and Teads combined on February 3, 2025 and are operating under the new Teads brand. The new Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media. With a focus on meaningful business outcomes, the combined company ensures value is driven with every media dollar by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. One of the most scaled advertising platforms on the open internet, the new Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, with a global team of nearly 1,800 people in 36 countries.

    To learn more, visit www.outbrain.com or www.teads.com

    Media Contact
    press@outbrain.com

    Investor Relations Contact
    IR@outbrain.com
    (332) 205-8999

    The MIL Network –

  • MIL-OSI: Notice of minimum investment amount increase for the EdgePoint Canadian Portfolio

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — EdgePoint Wealth Management Inc. (“EdgePoint”) announced today that it is changing the minimum amount of an initial investment in the EdgePoint Canadian Portfolio (the “Fund”) from $20,000 (the “Previous Minimum”) to $100,000 (the “New Minimum”).

    The New Minimum investment amount must be met per account and per Fund series. The minimum initial investment is subject to change at EdgePoint’s discretion.

    Why is EdgePoint raising the Fund’s minimum initial investment amount?

    The Canadian marketplace offers compelling investment opportunities; however, its size can pose investment restrictions. EdgePoint monitors the Fund’s size and inflows to ensure the Investment Team retains the flexibility needed to capitalize on them.

    The minimum increase is not being made due to capacity constraints today, but to potentially avoid them in the future. The flexibility to look anywhere in Canada for businesses undergoing positive change unrecognized by the market will never be compromised.

    One of EdgePoint’s measures of success is working with advisors who are aligned with its long-term investment approach. It is important to avoid attracting short-term performance chasers rather than like-minded investors.

    Raising the minimum investment threshold is a way of measuring an advisor’s alignment with EdgePoint by asking them to put their money (and conviction) where their mouth is. While this change does not guarantee alignment, it reinforces EdgePoint’s goal of delivering strong long-term returns while prioritizing the best interests of its investors. A stronger, more aligned investor base will create a better experience for all.

    EdgePoint is not an asset gathering firm. Selling and promoting a fund based on performance always serves the needs of the investment firm over the investor. These are necessary steps to protect the integrity of the Fund and to allow EdgePoint to continue building wealth for their long term and very aligned Canadian investors.

    Additional information about the Fund, including the simplified prospectus and Fund Facts, can be found on the Fund’s SEDAR+ profile at www.SEDARPLUS.ca or on EdgePoint’s website at www.edgepointwealth.com.

    ABOUT EDGEPOINT WEALTH MANAGEMENT

    EdgePoint Wealth Management Inc. is an independent investment management firm based in Toronto and owned and operated by investors.

    Contact: Patrick Farmer at 416.963.9353 or farmer@edgepointwealth.com.

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    This is not an offer to purchase. Mutual funds can only be purchased through a registered Dealer. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Copies are available from your financial advisor or at www.edgepointwealth.com. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. EdgePoint is a registered trademark of EdgePoint Investment Group Inc. EdgePoint® and Owned and Operated by Investors™ are trademarks of EdgePoint Investment Group Inc.

    The MIL Network –

  • MIL-OSI: Beneficient Announces Third Quarter Fiscal 2025 Earnings Release and Webcast

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 10, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, announced that it will release its Third Quarter Fiscal 2025 financial results on Thursday, February 13, 2025. Beneficient will host a webcast to present the results on Thursday, February 13, 2025 at 8:30 a.m. Eastern Standard Time.

    To listen to the webcast please visit the Beneficient investor relations website at shareholders.trustben.com at least ten minutes prior to the scheduled start time to register.

    A replay of the webcast will be available on the Company’s website shortly after the initial presentation.

    About Beneficent

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit www.trustben.com or follow us on LinkedIn.

    Contacts
    Matt Kreps 214-597-8200 mkreps@darrowir.com
    Michael Wetherington 214-284-1199 mwetherington@darrowir.com
    investors@beneficient.com  

    Forward-Looking Statements

    This communication includes forward-looking statements as defined under U.S. federal securities laws. Forward-looking statements include all statements that are not historical statements of fact, including related to statements about our plans, expectations and objectives with respect to the results of any legal or regulatory proceedings. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

    Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this release. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents we file with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Apollo Commercial Real Estate Finance, Inc. Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today reported results for the quarter and year ended December 31, 2024.

    Net income (loss) attributable to common stockholders per diluted share of common stock was $0.27 and ($0.97) for the quarter and year ended December 31, 2024, respectively. Distributable Earnings (a non-GAAP financial measure defined below) and Distributable Earnings prior to net realized loss on investments per diluted share of common stock were $0.32 and $0.32 for the quarter ended December 31, 2024, respectively, and $0.43 and $1.33 for the year ended December 31, 2024, respectively.

    Commenting on 2024 performance, Stuart Rothstein, Chief Executive Officer and President of the Company, said:
    “ARI had an active year of capital deployment in 2024, continuing to benefit from the strength and breadth of Apollo’s real estate credit origination capabilities.  A resurgence in real estate transaction activity over the past year led to $2.5bn of repayments in ARI’s portfolio and we successfully redeployed that capital into new vintage, attractively priced loans.”

    ARI issued a detailed presentation of the Company’s quarter and year ended December 31, 2024 results, which can be viewed at www.apollocref.com.

    Conference Call and Webcast
    The Company will hold a conference call to review fourth quarter and year end results on February 11, 2025 at 10am ET. To register for the call, please use the following link:      

    https://register.vevent.com/register/BI38e4ed2c79b3458581a16a9a003e6be1

    After you register, you will receive a dial-in number and unique pin. The Company will also post a link in the Stockholders’ section on ARI’s website for a live webcast. For those unable to listen to the live call or webcast, there will be a webcast replay link posted in the Stockholders’ section on ARI’s website approximately two hours after the call.

    Distributable Earnings
    “Distributable Earnings,” a non-GAAP financial measure, is defined as net income available to common stockholders, computed in accordance with GAAP, adjusted for (i) equity-based compensation expense (a portion of which may become cash-based upon final vesting and settlement of awards should the holder elect net share settlement to satisfy income tax withholding), (ii) any unrealized gains or losses or other non-cash items (including depreciation and amortization related to real estate owned) included in net income available to common stockholders, (iii) unrealized income from unconsolidated joint ventures, (iv) foreign currency gains (losses), other than (a) realized gains/(losses) related to interest income, and (b) forward point gains/(losses) realized on the Company’s foreign currency hedges, and (v) provision for current expected credit losses.

    As a REIT, U.S. federal income tax law generally requires the Company to distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that the Company pay tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income. Given these requirements and the Company’s belief that dividends are generally one of the principal reasons shareholders invest in a REIT, the Company generally intends over time to pay dividends to its stockholders in an amount equal to its net taxable income, if and to the extent authorized by the Company’s board of directors. Distributable Earnings is a key factor considered by the Company’s board of directors in setting the dividend and as such the Company believes Distributable Earnings is useful to investors.

    During the year ended December 31, 2024, the Company recorded in the consolidated statement of operations realized losses on the sale of a commercial mortgage loan secured by a hotel in Honolulu, Hawaii, and the extinguishment of a commercial mortgage loan secured by a portfolio of eight hospitals in Massachusetts.

    The Company believes it is useful to its investors to also present Distributable Earnings prior to net realized loss on investments and gain on extinguishment of debt, in applicable periods, to reflect its operating results because (i) the Company’s operating results are primarily comprised of earning interest income on its investments net of borrowing and administrative costs, which comprise the Company’s ongoing operations and (ii) it has been a useful factor related to the Company’s dividend per share because it is one of the considerations when a dividend is determined. The Company believes that its investors use Distributable Earnings and Distributable Earnings prior to net realized loss on investments and realized gain on extinguishment of debt, or a comparable supplemental performance measure, to evaluate and compare the performance of the Company and its peers.

    A significant limitation associated with Distributable Earnings as a measure of the Company’s financial performance over any period is that it excludes unrealized gains (losses) from investments. In addition, the Company’s presentation of Distributable Earnings may not be comparable to similarly titled measures of other companies, that use different calculations. As a result, Distributable Earnings should not be considered as a substitute for the Company’s GAAP net income as a measure of its financial performance or any measure of its liquidity under GAAP. Distributable Earnings are reduced for realized losses on loans which include losses that management believes are near certain to be realized.

    A reconciliation of Distributable Earnings to GAAP net income (loss) available to common stockholders is included in the detailed presentation of the Company’s quarter and year ended December 31, 2024 results, which can be viewed at www.apollocref.com.

    About Apollo Commercial Real Estate Finance, Inc.
    Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, Inc., a high-growth, global alternative asset manager with approximately $751 billion of assets under management at December 31, 2024.

    Additional information can be found on the Company’s website at www.apollocref.com.

    Forward-Looking Statements
    Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These forward-looking statements include information about possible or assumed future results of the Company’s business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words believe, expect, anticipate, estimate, plan, continue, intend, should, may or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: higher interest rates and inflation; market trends in the Company’s industry, real estate values, the debt securities markets or the general economy; the timing and amounts of expected future fundings of unfunded commitments; the return on equity; the yield on investments; the ability to borrow to finance assets; the Company’s ability to deploy the proceeds of its capital raises or acquire its target assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    CONTACT:   Hilary Ginsberg
        Investor Relations
        (212) 822-0767

    The MIL Network –

  • MIL-OSI: Ingersoll Rand to Participate in Upcoming Investor Conferences

    Source: GlobeNewswire (MIL-OSI)

    DAVIDSON, N.C., Feb. 10, 2025 (GLOBE NEWSWIRE) — Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, announced that Vik Kini, chief financial officer, will participate in fireside chats at the following upcoming investor conferences:

    • The Citi Global Industrial Tech and Mobility Conference on Wednesday, February 19, 2025, at 11:20 a.m. Eastern Time.
    • The Barclays Industrial Select Conference on Thursday, February 20, 2025, at 7:30 a.m. Eastern Time.

    A real-time audio webcast of both fireside chats can be accessed via the Events and Presentations section of the Ingersoll Rand Investor Relations website here. A replay of the webcast will be available after conclusion of the fireside chat and can be accessed on the Ingersoll Rand Investor Relations website.

    About Ingersoll Rand Inc.
    Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

    Investors:

    Matthew Fort
    Matthew.Fort@irco.com

    Media:

    Sara Hassell
    Sara.Hassell@irco.com 

    The MIL Network –

  • MIL-OSI: Middlefield Banc Corp. Announces a 5% Increase in the 2025 First-Quarter Cash Dividend Payment

    Source: GlobeNewswire (MIL-OSI)

    MIDDLEFIELD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) — Middlefield Banc Corp. (NASDAQ: MBCN) today announced that its Board of Directors declared a quarterly cash dividend of $0.21 per common share, representing a 5% increase from the 2024 fourth quarter dividend. The 2025 first-quarter dividend is payable on March 14, 2025, to shareholders of record on February 28, 2025.

    Ronald L. Zimmerly, Jr., President and Chief Executive Officer, stated, “The 5% increase in Middlefield’s dividend payment demonstrates our confidence in the future, as well as our strong capital position and expanding levels of profitability. Our regular dividend has increased 47.4% from $0.57 per share for the year ended December 31, 2019, to an annualized rate of $0.84 currently. This multi-year growth reflects our Board’s commitment to returning excess capital back to our shareholders.”

    About Middlefield Banc Corp.
    Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.85 billion at December 31, 2024. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

    Additional information is available at www.middlefieldbank.bank

    This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

       
    Company Contact: Investor and Media Contact:
    Ron Zimmerly
    President and Chief Executive Officer Middlefield Banc Corp.
    (419) 673-1217
    RZimmerly@middlefieldbank.com    		 Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    The MIL Network –

  • MIL-OSI: Farmers and Merchants Bancshares, Inc. Reports Earnings of $4,277,703 or $1.37 Per Share for the Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    HAMPSTEAD, Md., Feb. 10, 2025 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the year ended December 31, 2024 was $4,277,703, or $1.37 per common share (basic and diluted), compared to $6,418,337, or $2.08 per common share (basic and diluted), for the same period in 2023. Higher interest expense as a result of the Federal Reserve rate increases over the last several years was the primary reason for the decline in net income. The Company’s return on average equity during the year ended December 31, 2024 was 7.83% compared to 13.08% for the same period in 2023. The Company’s return on average assets during the year ended December 31, 2024 was 0.53% compared to 0.86% for the same period in 2023. Loan growth for the year ended December 31, 2024 was $60 million, a growth rate of 11.4%.

    Net income for the three months ended December 31, 2024 was $856,080, or $0.27 per common share (basic and diluted), compared to $1,415,230, or $0.46 per common share (basic and diluted), for the fourth quarter of 2023. The Company’s return on average equity during the three months ended December 31, 2024 was 5.96% compared to 11.92% for the same period in 2023. The Company’s return on average assets during the three months ended December 31, 2024 was 0.41% compared to 0.72% for the same period in 2023.          

    Net interest income for the year ended December 31, 2024 was $579,928 lower when compared to the same period in 2023 due to a decrease in the net interest margin to 2.68% for the year ended December 31, 2024 from 2.97% for the same period in 2023. The decline in the net interest margin was partially offset by a $56.6 million increase in average interest earning assets to $784.6 million for the year ended December 31, 2024 from $728.0 million for the same period in 2023. Higher interest expense was the driving factor in the lower net interest income. The Federal Reserve interest rate decreased by 1.00% over the last four months of 2024 after aggregate increases of 5.25% from March 2022 through August 2023. The net aggregate increase of 4.25% caused the cost of deposits and borrowings to increase by 102 basis points to 2.76% for the year ended December 31, 2024 from 1.74% for the same period in 2023. In addition, average interest bearing liabilities increased by $64.3 million to $634.7 million for the year ended December 31, 2024 from $570.4 million for the same period in 2023. The taxable equivalent yield on total average interest-earning assets increased 59 basis points to 4.92% for the year ended December 31, 2024 from 4.33% for the same period in 2023, partially offsetting the higher cost of funds.

    The Bank entered into several interest rate swaps structured as fair value hedges during 2023 and 2024, some in combination with the purchase of mortgage backed securities, which are intended to offset the impact of higher interest expense by improving interest income on debt securities. During the fourth quarter of 2024, a swap with a notional amount of $22 million was unwound and the related $28 million of mortgage backed securities was sold, resulting in a net gain of $18,708. The notional amount of interest rate swaps outstanding at December 31, 2024 was approximately $75 million.

    Our loan portfolio is comprised primarily of commercial real estate loans with fixed rates for five-year terms. As those loans reprice, our net interest margin should improve. In addition, our current strategy is to increase the diversification of our portfolio with commercial and industrial loans, which are typically adjustable rate loans and would provide an immediate higher yield in today’s interest rate environment.

    A provision for credit losses of $150,000 was recorded for the year ended December 31, 2024. For the year ended December 31, 2023, we recorded a $570,000 recovery. The Company’s loan portfolio continues to perform at a high level with just one non-accrual loan totaling $403,853 and one loan more than 30 days delinquent totalling $269,852 at December 31, 2024.

    Noninterest income increased by $160,947 for the year ended December 31, 2024 when compared to the same period in 2023, primarily as a result of a $138,388 increase in the gain on insurance proceeds for our Upperco location and a $48,252 increase in bank owned life insurance income, offset by a decrease of 19,392 in the gain on sale of SBA loans. Noninterest expense was $1,787,830 higher in the year ended December 31, 2024 when compared to the same period in 2023, due primarily to a $475,241 increase in other expenses, a $505,322 increase in occupancy and furniture and equipment costs, a $495,733 increase in salaries and benefits, and a $311,534 increase in other real estate owned expenses. The increase in other expenses was due primarily to costs associated with our core system conversion that was completed in the fourth quarter of 2024, ATM related expenses, and legal fees incurred for stockholder matters. Also, the Bank’s FDIC assessment expense increased due to higher FDIC assessment rates. The increase in occupancy and furniture and equipment was due primarily to the renovations and new equipment for the Upperco location which was placed in service at the end of the first quarter and the new Towson location that was placed in service during the second quarter. The increase in salaries and benefits was due to normal annual salary increases as well as the hiring of several new employees primarily in the commercial loan production department. The increase in other real estate owned expenses is due primarily to a $249,217 gain that was realized in 2023.

    Income taxes decreased by $786,177 during the year ended December 31, 2024 when compared to the same period in 2023 due to lower earnings before taxes. The effective tax rate decreased to 22.3% for the year ended December 31, 2024 from 23.9% for the same period last year due to an increase in the amount of nontaxable income included in pretax income year over year.

    Total assets increased to $845 million at December 31, 2024 from $800 million at December 31, 2023. Loans increased by 11.4% to $583 million at December 31, 2024 from the $523 million recorded at December 31, 2023. Investments in debt securities decreased to $146 million at December 31, 2024 from $184 million at December 31, 2023. Deposits increased to $758 million at December 31, 2024 from $681 million at December 31, 2023.   The Company’s tangible equity was $49 million at December 31, 2024 compared to $45 million at December 31, 2023.

    The book value of the Company’s common stock increased to $17.77 per share at December 31, 2024 from to $16.74 per share at December 31, 2023. Book value per share at December 31, 2024 was reflective of the $17 million unrealized loss, net of income taxes, on the Bank’s available for sale (“AFS”) investment portfolio as a result of the significant rise in interest rates over the last 30 months. Changes in the market value of the AFS investment portfolio, net of income taxes, are reflected in the Company’s equity, but are not included in the income statement. The AFS investment portfolio is comprised of 72% government agency mortgage backed securities which are fully guaranteed, 23% investment grade non agency mortgage backed securities, 1% investment grade corporate and municipal bonds, and 4% subordinated debt of other community banks. There is no indication of credit deterioration in any of the bonds and we intend to hold these investments to maturity, so no actual losses are anticipated. There is no impact on regulatory capital because the Bank elected many years ago to not include in the calculation of regulatory capital changes in the market value of the AFS investment portfolio regardless of whether they are positive or negative.

    The Bank utilized the Federal Reserve Bank’s Bank Term Funding Program during 2024 and had borrowings of $54,000,000 outstanding for most of 2024, but the borrowings were repaid during December 2024 ahead of the maturity date of January 15, 2025. Our Federal Home Loan Bank facility, other borrowing lines available, unpledged securities, brokered deposit access, and cash provided us with access to approximately $332 million of liquidity at December 31, 2024.

    Gary A. Harris, President and CEO, commented “We are pleased that our loan portfolio grew $60 million, or 11.4%, during 2024, demonstrating that our investment in additional loan production staff and facilities is paying off. Our asset quality remains high and our liquidity position remains strong. Due to the sunsetting of our existing core operating system, after an almost year long effort, our core system conversion was completed in October 2024.  While it increased our expenses in 2024, the new system will be a substantial digital upgrade that will position the bank for future growth, provide for significant efficiency gains and an enhanced customer experience moving forward. The Federal Reserve interest rate decreased an additional 50 basis points in the fourth quarter after the 50 basis point reduction in September. Additional cuts are now not expected to occur until the second half of 2025. The 2024 cuts should provide for improvement in our net interest margin in 2025.”

    About the Company

    The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

    Forward-Looking Statements

    The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “will,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Farmers and Merchants Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

         
    Farmers and Merchants Bancshares, Inc. and Subsidiaries
    Consolidated Balance Sheets
    (Unaudited)
         
      December 31, December 31, *
      2024 2023
         
    Assets  
         
    Cash and due from banks $ 63,962,047   $ 44,404,473  
    Federal funds sold and other interest-bearing deposits   697,066     285,864  
    Cash and cash equivalents   64,659,113     44,690,337  
    Certificates of deposit in other banks   100,000     100,000  
    Securities available for sale, at fair value   125,712,926     164,084,673  
    Securities held to maturity, at amortized cost less allowance for credit    
    losses of $60,009 and $35,627   20,498,502     20,163,622  
    Equity security, at fair value   517,550     507,130  
    Restricted stock, at cost   921,000     863,500  
    Mortgage loans held for sale   157,200     –  
    Loans, less allowance for credit losses of $4,260,189 and $4,285,247   582,993,314     523,308,044  
    Premises and equipment, net   7,348,800     6,583,452  
    Accrued interest receivable   2,439,108     2,180,734  
    Deferred income taxes, net   7,606,241     8,312,482  
    Other real estate owned, net   1,176,245     1,242,365  
    Bank owned life insurance   15,324,417     14,930,754  
    Goodwill and other intangibles, net   7,026,096     7,034,424  
    Other assets   8,162,575     5,939,309  
      $ 844,643,087   $ 799,940,826  
         
    Liabilities and Stockholders’ Equity
         
    Deposits    
    Noninterest-bearing $ 107,197,478   $ 115,284,706  
    Interest-bearing   651,609,250     565,678,145  
    Total deposits   758,806,728     680,962,851  
    Securities sold under repurchase agreements   5,564,103     6,760,493  
    Federal Home Loan Bank of Atlanta advances   5,000,000     5,000,000  
    Federal Reserve Bank advances   –     33,000,000  
    Long-term debt, net of issuance costs   11,329,115     13,212,378  
    Accrued interest payable   1,002,525     1,482,773  
    Other liabilities   6,668,826     7,344,040  
        788,371,297     747,762,535  
    Stockholders’ equity    
    Common stock, par value $.01 per share,    
    authorized 5,000,000 shares; issued and outstanding    
    3,166,653 in 2024 and 3,116,966 shares in 2023   31,667     31,170  
    Additional paid-in capital   31,135,552     30,398,080  
    Retained earnings   41,612,654     39,433,185  
    Accumulated other comprehensive loss   (16,508,083 )   (17,684,144 )
        56,271,790     52,178,291  
      $ 844,643,087   $ 799,940,826  
    * – Derived from audited consolidated financial statements    
         
    Farmers and Merchants Bancshares, Inc. and Subsidiaries
    Consolidated Statements of Income
    (Unaudited)
         
      Three Months Ended December 31, Year Ended December 31,
      2024 2023 2024 2023
             
    Interest income        
    Loans, including fees $ 8,316,953   $ 6,707,414   $ 30,338,189   $ 25,730,722  
    Investment securities – taxable   1,468,905     1,770,413     6,263,400     4,299,206  
    Investment securities – tax exempt   143,501     137,770     559,130     554,396  
    Federal funds sold and other interest earning assets   341,822     269,093     1,202,744     738,814  
    Total interest income   10,271,181     8,884,690     38,363,463     31,323,138  
             
    Interest expense        
    Deposits   4,274,980     2,960,470     14,518,632     7,971,094  
    Securities sold under repurchase agreements   16,222     17,924     65,335     41,873  
    Federal Home Loan Bank advances and other borrowings   13,433     33,614     122,663     485,886  
    Federal Reserve Bank advances   402,775     431,556     2,313,186     823,319  
    Long-term debt   120,154     140,000     507,562     584,953  
    Total interest expense   4,827,564     3,583,564     17,527,378     9,907,125  
    Net interest income   5,443,617     5,301,126     20,836,085     21,416,013  
             
    Provision for (recovery of) credit losses   150,000     –     150,000     (570,000 )
             
    Net interest income after provision for (recovery of) credit losses   5,293,617     5,301,126     20,686,085     21,986,013  
             
    Noninterest income        
    Service charges on deposit accounts   189,094     205,942     810,273     792,941  
    Mortgage banking income   41,484     4,483     107,846     96,997  
    Bank owned life insurance income   106,050     83,817     393,664     345,412  
    Gain (loss) on sale of debt securities   18,708     5,445     (13,214 )   –  
    Fair value adjustment of equity security   (18,183 )   15,343     (4,346 )   5,445  
    Loss on disposition of furniture and equipment   –     –     (5,157 )   –  
    Gain on sale of SBA loans   –     19,392     –     19,392  
    Gain on insurance proceeds   –     4,406     142,794     4,406  
    Other fees and commissions   85,899     83,782     320,587     326,907  
    Total noninterest income   423,052     422,610     1,752,447     1,591,500  
             
    Noninterest expense        
    Salaries   2,006,144     1,901,031     7,854,322     7,544,773  
    Employee benefits   590,365     517,654     2,187,116     2,000,932  
    Occupancy   271,859     229,377     1,070,456     874,775  
    Furniture and equipment   395,264     243,579     1,292,767     983,126  
    Other real estate owned, net   75,996     (235,538 )   75,996     (235,538 )
    Other   1,283,177     1,296,793     4,449,099     3,973,858  
    Total noninterest expense   4,622,805     3,952,896     16,929,756     15,141,926  
             
    Income before income taxes   1,093,864     1,770,840     5,508,776     8,435,587  
    Income taxes   237,784     355,610     1,231,073     2,017,250  
    Net income $ 856,080   $ 1,415,230   $ 4,277,703   $ 6,418,337  
             
    Earnings per share – basic $ 0.27   $ 0.46   $ 1.37   $ 2.08  
    Earnings per share – diluted $ 0.27   $ 0.46   $ 1.37   $ 2.08  
             
    Farmers and Merchants Bancshares, Inc.
    Selected Consolidated Financial Data
           
      2024 2023 2022
           
    OPERATING DATA      
           
    Interest income $ 38,363,463   $ 31,323,138   $ 26,269,653  
    Interest expense   17,527,378     9,907,125     2,146,158  
    Net interest income   20,836,085     21,416,013     24,123,495  
    Provision for (recovery of) loan losses   150,000     (570,000 )   475,000  
    Net interest income after provision for credit losses   20,686,085     21,986,013     23,648,495  
    Noninterest income   1,752,447     1,591,500     2,293,938  
    Noninterest expense   16,929,756     15,141,926     15,367,280  
    Income before income taxes   5,508,776     8,435,587     10,575,153  
    Income taxes   1,231,073     2,017,250     2,485,026  
    Net income $ 4,277,703   $ 6,418,337   $ 8,090,127  
           
    PER SHARE DATA      
           
    Net income (Basic) $1.37   $2.08   $2.66  
    Dividends $0.67   $0.66   $0.63  
    Book value $17.77   $16.74   $15.56  
           
    KEY RATIOS      
           
    Return on average assets   0.53 %   0.86 %   1.13 %
    Return on average equity   7.83 %   13.08 %   16.03 %
    Efficiency ratio   74.95 %   65.81 %   58.17 %
    Dividend payout ratio   48.91 %   31.73 %   23.68 %
    Net yield on interest-earning assets   2.68 %   2.97 %   3.54 %
    Tier 1 capital leverage ratio   9.12 %   9.42 %   9.83 %
           
    AT PERIOD END      
           
    Total assets $ 844,643,087   $ 799,940,826   $ 718,210,672  
    Gross loans   587,978,965     528,166,501     521,679,143  
    Cash and cash equivalents   64,659,113     44,690,337     7,263,537  
    Securities   146,211,428     184,248,295     146,823,446  
    Deposits   758,806,728     680,962,851     623,611,124  
    Borrowings   10,564,103     57,972,871     40,270,945  
    Stockholders’ equity   56,271,790     52,178,291     47,774,963  
           
    SELECTED AVERAGE BALANCES      
           
    Total assets $ 810,042,767   $ 745,478,612   $ 714,115,497  
    Gross loans   557,861,624     528,910,091     498,427,308  
    Cash and cash equivalents   27,564,076     18,497,261     20,015,477  
    Securities   177,742,677     182,159,701     174,776,879  
    Deposits   672,492,752     642,039,185     631,809,943  
    Borrowings   72,287,329     48,040,853     26,042,874  
    Stockholders’ equity   54,609,886     49,063,426     50,457,994  
           
    ASSET QUALITY      
           
    Nonperforming assets $ 1,580,098   $ 1,897,775   $ 1,897,775  
           
    Nonperforming assets/total assets   0.19 %   0.24 %   0.26 %
           
    Allowance for credit losses on loans/total loans   0.72 %   0.81 %   0.80 %
           
    Contact: Mr. Gary A. Harris
      President and Chief Executive Officer
      (410) 374-1510, ext. 1104
       

    The MIL Network –

  • MIL-OSI New Zealand: Man charged with murder in relation to Ngāruawāhia death

    Source: New Zealand Police (National News)

    To be attributed to Detective Senior Sergeant Andrew Saunders:

    A 34-year-old man has been charged with the murder of Turipapa Tukere, who died following an altercation in Ngāruawāhia on 27 December.

    The man was arrested this morning, following two search warrants in Hamilton carried out with the assistance of the Armed Offenders Squad, and a search warrant in Tauranga. 

    He is scheduled to appear in Hamilton District Court today.

    We would like to thank the Ngāruawāhia community for their support during the investigation into Turipapa’s death. 

    The investigation is ongoing and we are not ruling out further arrests.

    If you have information which could assist the investigation team but have not yet spoken to us, please get in touch via 105, either online or over the phone.

    Please reference file number 241227/6958.
     

    ENDS

    Issued by Police Media Centre. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Universities – Covid strategies ‘fell short’ for Pacific people, research finds – UoA

    Source: University of Auckland (UoA)

    Research on the impacts of Covid-19 highlights high death rates among Pacific people in Aotearoa and the need to provide better support in the future.

    A report has just been publicly released – Pacific contribution to the New Zealand COVID-19 response – Strengths, Weaknesses and Missed Opportunities.

    It notes that despite the overall success of New Zealand’s response to Covid, Pacific people were hard hit and the response failed to target their needs adequately, says research lead, Professor Sir Collin Tukuitonga, co-director of Te Poutoko Ora a Kiwa – Centre for Pacific and Global Health at the University of Auckland.

    “Despite clear and consistent evidence related to the disproportionate impact of Covid-19 on Pacific communities, the national response fell short of engaging with Pacific leaders, instead adopting a generic ‘one size fits all’ approach,” the report states.

    Pacific people were twice as likely to be hospitalised with Covid as non-Pacific and non-Māori in Aotearoa, according to the research, which was funded by the Ministry of Health and carried out by the Centre for Pacific and Global Health and two Pacific health and social service providers, the Pasifika Medical Association and the Fono.

    A far higher percentage of Pacific people aged under 80 died within 28 days of being reported as a case, than those aged under 80 in other ethnic groups. Of the people aged under 59 years who died within 28 days of being reported as a case, 20 percent were Pacific, compared to eight percent of those categorised as European/other ethnicities of the same age.

    The experiences of 147 Pacific people were gathered for the report, which states the virus and ensuing lockdowns took a significant toll on the mental health of all the participants.

    Media coverage named a Pacific church as central to a large Covid cluster in August 2021, fuelling “racist vilification” of the Sāmoan community, stigma and discrimination, the report says.

    “Government officials, media and Pacific community leaders need to collaborate closely and quickly to prevent similar occurrences of racism from media reports for future pandemics,” it states.

    Many Pacific people were essential workers, who experienced fear and anxiety of the virus, in addition to racism.

    The challenges of lockdowns and self-isolation were exacerbated for many Pacific families living in multi-generational households.

    “The findings from the Covid-19 global pandemic emphasise the existing socioeconomic disparities, such as overcrowded living conditions, high rates of co-morbidities, and delayed access to healthcare, contributing to the disproportionate impact on Pacific and Māori communities.

    “Recognising and addressing these structural inequalities are essential components of any comprehensive public health strategy aimed at mitigating the impact of pandemics on vulnerable populations,” the report states.

    About 28 percent of Pacific peoples felt they couldn’t access mental health support during alert levels two, three and four, and 26 percent felt they could not access healthcare.

    The report recommends that in the future, Pacific health services be given clear guidelines as soon as possible, so they can begin outreach work with Pacific communities and ensure patients still receive healthcare for long-term conditions.

    It recommends reviewing policies on hospital visitors, because these were the most challenging of all protective measures for Pacific families.

    Plans should enable Pacific communities to establish testing and vaccination centres at the beginning of an outbreak and factor in mental health impacts.

    The importance of the church in offering guidance, combating misinformation and offering social support during a pandemic is highlighted in the reports.

    While vaccine uptake was initially slow among Pacific people, 95 percent were fully vaccinated by December 2021. About 68 percent of the participants said caring for family motivated their decision to get vaccinated.

    Pacific households faced disproportionate economic hardship during 2020 compared to the general population, with 18 percent of households losing half of their income or more.

    Education also suffered, as online learning replaced classroom teaching. The research found 20 percent of Pacific students did not have or did not know if they had access to a device at home for distance learning.

    “Long-term impacts of loss in learning and disengagement from school require further investigation,” the report states.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Social Issues – Disability support services consultation underway – from Invercargill to Whangarei

    Source: Ministry of Social Development

    People in the disability community are invited to have their say in a six-week consultation that begins this week and runs until 24 March 2025.
    Disability Support Services was transferred from the Ministry of Disabled People – Whaikaha to the Ministry of Social Development (MSD) last year, after an Independent Review recommended changes to stabilise the system.
    The head of Disability Support Services at MSD, Chris Bunny, says feedback is being sought on specific proposals for change.
    “We are seeking feedback on:
    • how needs are assessed, and decisions made on how support is allocated
    • options for changes to flexible funding.
    “My message to the disability community is I know the changes of last year have been difficult for some people, and this year we want to make progress on strengthening the disability support system for disabled people, their whānau and carers.
    “We are working to stabilise disability support services so they are more fair, consistent, transparent and sustainable.
    “This is a major round of consultation which builds on what the disabled community told us in a survey late last year.
    “There’s lots of different ways people can have their say.
    “In-person workshops will be held in Auckland, Christchurch, Dunedin, Christchurch, Wellington, Hamilton, Invercargill, Lower Hutt, Napier, Nelson, New Plymouth, Palmerston North, Porirua, Rotorua, Wellington, and Whangarei.
    In addition, people can attend an online workshop, make a written or video submission, or complete an online survey. There are also DIY resources for people or organisations who want to host their own workshops to support their submissions.
    “Please register to book your place for a workshop in-person or online. You can do that at the Disability Support Services website, disabilitysupport.govt.nz
    “We’ve released a discussion document outlining the issues and proposals on the way forward.
    “Your feedback will help Government to make decisions to stabilise services, before considering further work to strengthen those supports,” says Mr Bunny.
    Editor’s notes
    What is this consultation about?
    The consultation is focused on essential disability support people receive after an assessment from a Needs Assessment Service Coordination provider, or an Enabling Good Lives site.
    While everyone is welcome to participate, Disability Support Services especially want to hear from people receiving these services and whānau, carers, and advocates. 
    The changes under discussion do not apply to people who only receive supports from other agencies, such as ACC, Ministry of Education, Ministry of Health, Ministry of Transport, or Work and Income. 
    What is being proposed?
    Needs assessments
    • Improving how the tool reflects the diversity of disability
    • Proposals that the needs of family/whānau become part of the assessment
    • Making sure services continue to meet their needs – how often should supports be reviewed or reassessed?
    • Proposal that NASCs identify supports that are available through other agencies and provide guidance on how these can be accessed
    Flexible Funding – two options
    • Option 1 – Linking flexible funding to the person’s plan, with oversight of how it is used
    • Option 2 – Adjust current lists of what can and can’t be funded using flexible funding.
    There are also proposals to introduce criteria for receiving flexible funding, and questions on what these should be.
    How do people register for workshops?
    Can media attend workshops or film them?
    Community consultation will begin with a presentation followed by work in smaller groups. To protect the privacy of those attending, these events are closed to media, unless reporters are there in a personal capacity to take part in the consultation. However , you may wish to talk to people outside the venue if you would like to.
    Is the consultation going to be accessible?
    Yes, alternate formats are available of the discussion document summary, including Easy Read, Braille, Audio, Large Print and New Zealand Sign Language. There are also translations in te reo Māori, Samoan, and Tongan.
    We will also have sign language interpreters at our in-person and online workshops.
    Venues for our in-person workshops have been selected because they are accessible, including access points, toilets, and the working spaces themselves.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Calling rangatahi changemakers: Applications now open for Save the Children’s 2025 Youth Ambassador programme

    Source: Save the Children

    Save the Children is searching for passionate young changemakers to join Generation Hope New Zealand, an inspiring youth leadership programme that empowers rangatahi aged 14 – 18 to take action for children’s rights and global issues.
    Now more than ever, young people need the support, skills, and opportunities to make their voices heard. From leading workshops and hosting panel discussions to advocacy and engaging with political leaders. Generation Hope Youth Ambassadors take real action to shape a fairer world.
    “This programme really stands out as an opportunity for young people to not only learn about the work of Save the Children and their own rights but also to feel empowered to act – for themselves, their peers, and their wider communities,” says Vira Paky, Save the Children NZ’s Youth Engagement Co-ordinator.
    “Bringing together like-minded young people who care about fairness, education, and community creates an unparalleled environment. Watching the friendships and knowledge blossom from this programme is such a privilege.”
    Through Generation Hope, youth ambassadors receive leadership training, advocacy skills, and a platform to drive meaningful change. During the programme, past members have held youth-led events and panel discussions, met with politicians, including presenting children’s climate action messages to Ministers at Parliament. Past members have gone on to set up their own youth councils and youth-led organisations.
    “Generation Hope allowed me to form so many friendships with so many other young people willing to advocate for the issues in their communities, that I’m sure will last for many years to come.” says Generation Hope alumna Annamieka.
    “Just go for it and apply,” says Generation Hope alumna Cassie. “There’s nothing for you to lose and everything for you to gain.”
    SCNZ Media and Communications Director Amie Richardson is currently travelling for work. For interviews, please contact Advocacy and Research Director Jacqui Southey on 027 647 7004.  About Save the Children NZ: Save the Children works in 120 countries across the world. The organisation responds to emergencies and works with children and their communities to ensure they survive, learn and are protected. Save the Children NZ currently supports international programmes in Fiji, Cambodia, Bangladesh, Laos, Nepal, Vanuatu, Solomon Islands and Papua New Guinea. Areas of work include child protection, education and literacy, disaster risk reduction and climate adaptation, and alleviating child poverty.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health and Fitness – Postie Bike Challenge – from delivering mail to delivering a vital message for kiwi males – Prostate Foundation

    Source: Prostate Cancer Foundation

    It takes a special kind of human to load up a small motorbike, with a top speed of 80 km/hr, and head off from one end of the country to the other. But that’s exactly what an intrepid group of self-described “Mild Hogs” all on the wrong side of 50, are doing to make a difference to those affected by the most commonly diagnosed cancer in kiwi men – prostate cancer.
    The Mild Hogs Charity Motorcycle Ride aka the ‘Postie Bike Challenge’ will see the six hogs (Brian, Murray, Martin, Ian, Julian and Scott) embark on a 12-day 2,500 km odyssey on 109cc motorbikes designed for delivering mail – the trusty Honda NBC110 – without a support vehicle or backup.
    “It could be a long journey, but we all felt the need for a good adventure and it’s all in aid of a good cause,” said Hog spokesperson Ian Pringle.
    Behind this two-wheeled adventure a serious issue – 1 in 8 kiwis will be diagnosed with prostate cancer in their lifetime, it is now the most commonly diagnosed cancer in the country and the second leading cause of cancer death in NZ men.
    “This is why the Postie Bike Challenge is so important and why we are very proud and grateful to the Mild Hogs for raising awareness of the disease and vital funds for those affected by it” said Peter Dickens, Chief Executive of Prostate Cancer Foundation NZ.
    In a valiant display of spirit (or perhaps a touch of madness?) these daring souls will stamp their mark on men’s health, avoiding motorways, salads and late nights. From the majestic Cape Reinga (16 th February) they will traverse the heart of the North Island, the charming North Canterbury, onward to the breathtaking Central Otago via the rugged West Coast, to arrive at Bluff – culminating at Bluff on 27 th February -signed, sealed, and delivered.
    “I have very fond memories of waiting for important news to arrive in the letterbox delivered by my friendly postie on their trusty bike, little did I know that years later six intrepid men would be making such an amazing effort on these same machines, in support of all those affected by prostate cancer in Aotearoa New Zealand”, says Peter Dickens.
    Through their efforts, the Mild Hogs will be making a real difference to those diagnosed, and their families, helping to provide vital support and raising awareness of the disease as they traverse the country. We’re very grateful and humbled by their efforts and will be cheering them on in every town they visit along the way.
    It will be amazing if our fellow kiwis can do the same and also take a moment to visit their GiveALittle page to show these mad buggers some support by making a donation. Hyperlink: https://givealittle.co.nz/fundraiser/postie-bike-challenge

    MIL OSI New Zealand News –

  • MIL-OSI USA: AFSCME’s Saunders: Workers and communities are paying the price of the administration dismantling federal agencies

    Source: American Federation of State, County and Municipal Employees Union

    WASHINGTON – AFSCME President Lee Saunders released the following statement after AFSCME members at the U.S. Department of Agriculture were placed on administrative leave to be furloughed:

    “Federal workers and America’s communities are starting to pay the price of Elon Musk and his cronies’ unlawful efforts to dismantle essential public services. AFSCME members within the Department of Agriculture were notified that they will be furloughed since the administration has illegally eliminated the USAID, which funds the work they do. Because of these extremist actions, not only will people abroad go hungry, but American farmers will be left high and dry with no one to buy their crops. This is only the beginning of billionaires’ campaign to gut public services so they can hand over trillions in tax cuts to their wealthiest friends. It is shameful, and we will consider all our options to stop these actions.”

    MIL OSI USA News –

  • MIL-OSI USA: Therapy helps peanut-allergic kids tolerate tablespoons of peanut butter

    Source: US Department of Health and Human Services – 2

    News Release

    Monday, February 10, 2025

    NIH trial informs potential treatment strategy for kids who already tolerate half a peanut or more.

    Eating gradually increasing doses of store-bought, home-measured peanut butter for about 18 months enabled 100% of children with peanut allergy who initially could tolerate the equivalent of at least half a peanut to consume three tablespoons of peanut butter without an allergic reaction, researchers report. This easy-to-implement treatment strategy could potentially fulfill an unmet need for about half of children with peanut allergy, who already can tolerate the equivalent of at least half a peanut, considered a high threshold. The findings come from a trial sponsored and funded by the National Institutes of Health’s National Institute of Allergy and Infectious Diseases (NIAID) and published today in the journal NEJM Evidence.

    “Children with high-threshold peanut allergy couldn’t participate in previous food allergy treatment trials, leaving them without opportunities to explore treatment options,” said NIAID Director Jeanne Marrazzo, M.D., M.P.H. “Today’s report focuses on this population and shows that a very safe and accessible form of therapy could be liberating for many of these children and their families.”

    The food allergy treatments currently approved by the Food and Drug Administration were tested in children with low-threshold peanut allergy, who cannot tolerate the equivalent of even half a peanut. These treatments are designed to decrease the likelihood of a reaction to a small amount of peanut despite efforts to avoid it, as might occur with accidental exposure. This approach is not relevant to the estimated 800,000 U.S. children who may have high-threshold peanut allergy, leaving them with only one management strategy prior to the new report: peanut avoidance.

    To address this need, researchers tested whether a low-cost, convenient treatment strategy could help children with high-threshold peanut allergy tolerate a much greater amount of peanut protein than they already did. The mid-stage trial involved 73 children ages 4 to 14 years. Based on parent or guardian report, nearly 60% of the children were white, 19% were Asian, 1.4% were Black, and 22% were more than one race. The study team assigned the children at random to either test the new treatment strategy or continue avoiding peanut.

    Those in the peanut-ingestion group began with a minimum daily dose of 1/8 teaspoon of peanut butter. They gradually increased their dose every eight weeks up to 1 tablespoon of peanut butter or an equivalent amount of a different peanut product, such as peanut flour or candies. Dose increases took place under medical supervision at the study site. None of the children in the peanut-ingestion group needed epinephrine to treat severe allergic reactions during home dosing, and only one child needed epinephrine during a supervised dosing visit at the study site.

    After undergoing the treatment regimen, the peanut-consuming children participated in an oral food challenge carefully supervised by the study team to see how much peanut butter they could eat without an allergic reaction. All 32 children who participated in the challenge could tolerate the maximum amount of 9 grams of peanut protein, the equivalent of 3 tablespoons of peanut butter. By contrast, only three of the 30 children in the avoidance group who underwent the oral food challenge after a similar amount of time in the trial could tolerate 9 grams of peanut protein. Three additional children in the avoidance group tolerated a challenge dose at least two doses greater than the amount they could tolerate at the start of the study.

    The trial took place during the COVID-19 pandemic, and some families preferred to avoid indoor close contact with others at that time, so some children did not return to the study site for the oral food challenge. Using a common statistical technique to account for those missing challenge results, 100% of the ingestion group and 21% of the avoidance group tolerated at least two doses greater than they could at the outset.

    Children in the peanut-ingestion group who could tolerate 9 grams of peanut protein during the oral food challenge consumed at least 2 tablespoons of peanut butter weekly for 16 weeks, then avoided peanut entirely for eight weeks. At that point, they were asked to return to the study site for a final oral food challenge.

    Twenty-six of the 30 treated children (86.7%) who participated in the final challenge continued to tolerate 9 grams of peanut protein, indicating they had achieved sustained unresponsiveness to peanut. The three children in the avoidance group who could eat 9 grams of peanut protein without a reaction at the earlier challenge were considered to have developed natural tolerance to peanut. Analyzing these outcomes and including all 73 children who began the trial, regardless of whether they participated in the final challenge, investigators found that 68.4% of the peanut-ingestion group achieved sustained unresponsiveness, while only 8.6% of the avoidance group developed natural tolerance.     

    Based on these encouraging results, the investigators want to learn if the same treatment strategy would work for food allergens other than peanuts. Future follow-up is needed to determine the therapy’s effectiveness at inducing long-lasting tolerance of peanut.

    Scott H. Sicherer, M.D., and Julie Wang, M.D., led the trial, which took place at the Elliot and Roslyn Jaffe Food Allergy Institute in Mount Sinai Kravis Children’s Hospital, New York. Dr. Sicherer is director of the Institute and the Elliot and Roslyn Jaffe Professor of Pediatric Allergy and Immunology. He is also chief of the Division of Allergy and Immunology in the Department of Pediatrics and medical director of the Clinical Research Unit in the ConduITS Institute for Translational Sciences at Icahn School of Medicine at Mount Sinai. Dr. Wang is a professor of pediatric allergy and immunology in the Elliot and Roslyn Jaffe Food Allergy Institute. 

    More information about the clinical trial, called the CAFETERIA study, is available at ClinicalTrials.gov under study identifier NCT03907397.

    NIAID conducts and supports research—at NIH, throughout the United States, and worldwide—to study the causes of infectious and immune-mediated diseases, and to develop better means of preventing, diagnosing and treating these illnesses. News releases, fact sheets and other NIAID-related materials are available on the NIAID website.

    About the National Institutes of Health (NIH): NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.

    NIH…Turning Discovery Into Health®

    Reference

    SH Sicherer et al. Randomized trial of high dose, home measured peanut oral immunotherapy in children with high threshold peanut allergy. NEJM Evidence DOI: 10.1056/EVIDoa2400306 (2025)

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    MIL OSI USA News –

  • MIL-OSI Australia: Glendenning one step closer to a new ambulance station

    Source: New South Wales Government 2

    Headline: Glendenning one step closer to a new ambulance station

    Published: 10 February 2025

    Released by: Minister for Health

    Communities in Glendenning, Doonside and the surrounding suburbs are a step closer to a new purpose-built ambulance station following the purchase of a site for a new Ambulance Station on Glendenning Road.

    The new Glendenning Ambulance Station is being delivered to boost frontline emergency care for the Glendenning and Doonside communities as part of the NSW Government’s $615.5 million NSW Ambulance Infrastructure Program.

    The new station will support local paramedics to provide the best emergency and mobile medical care now and into the future.

    NSW Ambulance identified the area as a high priority location for a new ambulance station following a comprehensive service planning process using best practice modelling software to map Triple Zero (000) calls.

    New stations are located at places which optimise ambulance response performance, best meet the needs of local community as well as the needs of emergency ambulance operations and paramedic staff.

    The next steps for the Glendenning Ambulance Station include design development and progressing planning approval. Construction and operational timeframes will be determined as the project progresses.

    The NSW Ambulance Infrastructure Program will deliver 30 additional ambulance stations and supporting infrastructure across Sydney, the Central Coast, Newcastle, the Hunter and Wollongong over the coming years, boosting frontline emergency ambulance care.

    Health Infrastructure is working with NSW Ambulance and other government stakeholders to identify potential sites for the new ambulance stations. Sites are confirmed for North Sydney, South Windsor, Oran Park, Berowra, Prestons, Moss Vale, Bargo, Lisarow and now Glendenning.

    The NSW Government is recruiting 2,500 additional NSW Ambulance staff including 500 paramedics to rural and regional areas, to boost emergency and mobile healthcare for our metropolitan and regional communities.

    Quotes attributable to Minister for Health, Ryan Park:

    “The purchase of this site marks a significant milestone in delivering a vital health service for growing communities in Glendenning, Doonside and surrounding suburbs.

    “The new Glendenning Ambulance Station will support local paramedics to provide the best emergency and mobile medical care well into the future.

    Quotes attributable to Member for Blacktown, Stephen Bali:

    “The new Glendenning Ambulance Station will bolster emergency care for the Western Sydney community and provide a first-class facility for NSW Ambulance paramedics.

    “The new ambulance station will improve ambulance network coverage and support existing stations and paramedic teams including the ambulance station at Blacktown.”

    MIL OSI News –

  • MIL-OSI Security: Binghamton Woman is Sentenced to 18 Months in Prison for Stealing a Child’s Social Security Benefits After the Child was Removed From her Custody

    Source: Office of United States Attorneys

    SYRACUSE, NEW YORK – Loretta Washington, age 60, of Binghamton, New York, was sentenced to 18 months in prison for social security fraud, United States Attorney Carla B. Freedman and Amy Connelly, Special Agent in Charge of the Social Security Administration Office of Inspector General (SSA-OIG), New York Field Office announced.

    As part of her prior guilty plea, Washington admitted that she had applied for and was receiving social security benefits for a minor child, as the minor child’s representative-payee. A representative-payee is a person or organization selected by the SSA to receive benefits on behalf of a beneficiary who is unable to manage their payments. In September 2018, Broome County Department of Social Services removed the child from Washington’s custody after the child—who was four years old at the time—was found walking on a road in the middle of the night. Washington never reported the change in custody to the Social Security Administration and, at one point, lied to the Social Security Administration that the child was still in her custody. In total, Washington stole over $25,000 in social security benefits between October 2018 and November 2021.

    In addition to the 18-month term of imprisonment, Washington will serve a term of supervised release of three years. Washington was also ordered to pay restitution to the Social Security Administration.  

    This case was investigated by the Social Security Administration Office of the Inspector General and is being prosecuted by Special Assistant U.S. Attorney Paul J. Tuck. 

    MIL Security OSI –

  • MIL-OSI Security: Convicted Knoxville Gang Leader Sentenced To 45 Years For Drug Trafficking, Firearms, and Money Laundering Crimes

    Source: Office of United States Attorneys

    KNOXVILLE, Tenn. On February 10, 2025, Bryan Cornelius, 34, of Knoxville, was sentenced to a total term of 45 years in prison by the Honorable Thomas A. Varlan, United States District Judge, in the United States District Court for the Eastern District of Tennessee at Knoxville.  Following his imprisonment, Cornelius will be on supervised release for five years.

    The sentencing follows Cornelius’s federal trial in April 2022, during which a jury convicted him of conspiring to distribute various controlled substances, including methamphetamine, heroin, fentanyl, and marijuana.  The evidence presented at trial included wiretaps of multiple cellular phones, multiple search warrants at various Knoxville residences, narcotics, firearms, and cash seizures.  The evidence showed that Cornelius, a member of the Gangster Disciples street gang, was ordering narcotics from different sources of supply in California and receiving packages of methamphetamine and marijuana through the United States Postal Service (USPS), Fed-Ex, and UPS throughout 2019 and that he maintained multiple addresses across Knoxville to stash his narcotics, firearms, and cash to facilitate his narcotics distribution.  In addition, the evidence showed that, in furtherance of his drug trafficking, at approximately 2:45 p.m. on November 21, 2019, Cornelius, along with two others, drove by the Stop-n-Go on Brooks Avenue and Cornelius and fired fifteen rounds of 7.62mm into a Mercedes-Benz.  The driver sustained two non-life-threatening gunshot wounds.  The jury also convicted Cornelius of conspiracy to commit money laundering. According to court documents, twenty-two other charged members of the conspiracy previously pleaded guilty.

    In determining the sentence, Judge Varlan took into account several aggravating factors, including Cornelius’s role as a leader and organizer of the crimes, his credible threats of violence made against other people in connection with his crimes, and his use of guns and violence in connection with his crimes.

    U.S. Attorney Francis M. Hamilton III of the Eastern District of Tennessee; Special Agent in Charge Joe Carrico of the Federal Bureau of Investigation (FBI), and Tommy D. Coke of the U.S. Postal Inspector in Charge of the Atlanta Division, made the announcement.

    This conviction and sentence resulted from an investigation conducted by the FBI HIDTA Task Force and the United States Postal Inspection Service (USPIS).  The FBI HIDTA Task Force includes the Roane County Sheriff’s Office, Knoxville Police Department, Knox County Sheriff’s Office, Blount County Sheriff’s Office, and Sevier County Sheriff’s Office. The Tennessee Bureau of Investigation and the Drug Enforcement Administration, also assisted in this investigation by conducting drug analysis on seized narcotics in the case.

    Assistant United States Attorneys Cynthia Davidson and Alan Kirk represented the United States.

    This case was part of the Department’s Organized Crime Drug Enforcement Task Force (OCDETF) and the HIDTA programs.  OCDETF is the primary weapon of the United States against the highest-level drug trafficking organizations operating within the United States, importing drugs into the United States, or laundering the proceeds of drug trafficking.  The HIDTA program enhances and coordinates drug control efforts among local, State, and Federal law enforcement agencies.  The program provides agencies with coordination, equipment, technology, and additional resources to combat drug trafficking and its harmful consequences in critical regions of the United States.

    This case is also part of Project Safe Neighborhoods (PSN), the centerpiece of the Department of Justice’s violent crime reduction efforts. PSN is an evidence-based program proven to be effective at reducing violent crime.  Through PSN, a broad spectrum of stakeholders working together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them.  As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.

                                                                                                                              ###

    MIL Security OSI –

  • MIL-OSI Security: Guilty Plea from Defendant Who Sexually Assaulted Senior Citizen in Her Yard

    Source: Office of United States Attorneys

                WASHINGTON – Darnell Peoples, 22, of Washington, D.C., was sentenced on Monday, February 10, 2025, to 20 years in prison for the armed oral sexual assault of a senior citizen at her home in Southeast Washington, D.C., announced U.S. Attorney Edward R. Martin, Jr. and Chief Pamela A. Smith, of the Metropolitan Police Department (MPD). On November 15, 2024, Peoples pleaded guilty to one count of first-degree sexual abuse in the Superior Court of the District of Columbia.

               Peoples has been in custody since his arrest on June 11, 2024. His guilty plea called for an agreed-upon 20-year prison sentence. The Honorable Anthony C. Epstein accepted the plea today and sentenced the defendant accordingly. Upon release, Peoples will be required to register as a sex offender, and be on supervised release, for the remainder of his life.

               According to a proffer of facts submitted at the plea hearing, on June 11, 2024, the victim was working in her yard. Peoples approached the victim from behind, displayed a knife, and told the victim to get on her knees. When the victim informed Peoples that she could not get on her knees, Peoples grabbed her and threw her to the ground. Peoples then pulled down his pants and exposed his penis. He pulled the victim’s head toward his penis and forcefully inserted his penis into the victim’s mouth multiple times.

               In announcing the sentence, U.S. Attorney Martin and Chief Smith commended the work of those who investigated the case from the Metropolitan Police Department. They also expressed appreciation for the assistance provided by the U.S. Department of Justice’s Computer Crime and Intellectual Property Section Cybercrime Lab. Finally, they commended the work of Assistant U.S. Attorney Kristin Sourbeer, who investigated and prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: Wethersfield Man Sentenced to More Than 8 Years in Prison for Distributing Fentanyl and Oxycodone to Overdose Victim

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that JIMMY LASSUS, 40, of Wethersfield, was sentenced today by U.S. District Judge Kari A. Dooley in Bridgeport to 100 months of imprisonment, followed by three years of supervised release, for distributing fentanyl and oxycodone to an overdose victim.

    According to court documents and statements made in court, in the early morning of October 6, 2023, Meriden Police responded to a residence on a report of a suspected overdose and found a 27-year-old woman unresponsive in a bedroom.  She was transported to the hospital where she was pronounced deceased.  The investigation revealed that for several months before the victim’s death, the victim engaged in numerous drug-related text message conversations with Lassus.  The text messages revealed that Lassus supplied the victim with oxycodone, and that he supplied her with fentanyl that she ingested in the hours before she died.  The victim stated in text messages and in a journal entry that it was her first time using fentanyl.

    The Office of the Chief Medical Examiner determined the victim’s death to be caused by acute intoxication due to the combined effects of fentanyl, benzodiazepines, xylazine, and oxycodone.

    Lassus has been detained since his arrest on April 11, 2024.  On September 30, 2024, he pleaded guilty to distribution of fentanyl and oxycodone.

    This investigation was conducted by the Drug Enforcement Administration New Haven Task Force and the Meriden Police Department, with the assistance of the Wethersfield Police Department.  The Task Force includes members from the DEA, U.S. Marshals Service, Internal Revenue Service – Criminal Investigation Division, Connecticut State Police and the New Haven, Waterbury, East Haven, Branford, West Haven, Ansonia, Meriden, Naugatuck, and Shelton Police Departments.

    The case was prosecuted by Assistant U.S. Attorneys Brendan Keefe and Reed Durham.

    MIL Security OSI –

  • MIL-OSI Security: Final defendant sentenced in large-scale federal drug trafficking case

    Source: Office of United States Attorneys

    BEAUMONT, Texas – A large-scale investigation has concluded with multiple individuals being sentenced to federal prison for drug trafficking and firearms violations in the Eastern District of Texas, announced Acting U.S. Attorney Abe McGlothin, Jr.

    According to information presented in court, beginning in 2021, law enforcement investigated a drug trafficking organization operating throughout East Texas, identifying Edgar Garcia, Jr. as the primary distributor.  Law enforcement began conducting operations to identify numerous individuals receiving methamphetamine from Garcia. During the investigation, law enforcement executed residential search warrants, purchased methamphetamine and/or firearms directly from Garcia and other members of his drug trafficking organization, and directed traffic stops to intercept narcotics and firearms being transported for distribution. Ultimately, multiple kilograms of methamphetamine were seized during the operation.

    Law enforcement was also able to obtain almost a dozen firearms from various individuals in the organization. The firearms were either sold as part of narcotics transactions or being used to guard the illegal drugs.

    This case was prosecuted as part of the joint federal, state, and local Project Safe Neighborhoods (PSN) Program, the centerpiece of the Department of Justice’s violent crime reduction efforts.  PSN is an evidence-based program proven to be effective at reducing violent crime.  Through PSN, a broad spectrum of stakeholders work together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them.  As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.

    The individuals sentenced to federal prison during the investigation and prosecution of the drug trafficking organization are:

    Edgar Garcia Jr., 26, of Nacogdoches, sentenced to 151 months;

    Justin Michael Sanchez, 33, of Nacogdoches, sentenced to 235 months;

    Beverly Hurst, 26, of Center, sentenced to 151 months;

    Jason Clepper, 36, of Goliad, sentenced to 150 months;

    Blake Trahan, 29, of Center, sentenced to 48 months;

    Austin Yarbrough, 32, of Timpson, sentenced to 188 months;

    Laddarus Perkins, 40, of Timpson, sentenced to 135 months;

    Jeanese Fenley, 43, of Timpson, sentenced to 70 months; and

    Koury Nowell, 49, of Gary City, sentenced to 33 months.

    This case was investigated by the FBI; Bureau of Alcohol, Tobacco, Firearms, and Explosives; Texas Department of Public Safety; Shelby County Sheriff’s Office; Nacogdoches County Sheriff’s Office; and Panola County Sheriff’s Office. This case was prosecuted by Assistant U.S. Attorneys Donald S. Carter and Lucas Machicek.

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    MIL Security OSI –

  • MIL-OSI Security: Kissimmee Man Pleads Guilty To Possessing With Intent To Distribute Fentanyl And Cocaine

    Source: Office of United States Attorneys

    Orlando, Florida – United States Attorney Roger B. Handberg announces that Raul Rodriguez-Jimenez (37, Kissimmee) has pleaded guilty to possessing with the intent to distribute fentanyl and cocaine. Rodriguez-Jimenez faces a minimum sentence of 5 years, up to 40 years, in federal prison. A sentencing date has not been set.

    According to court documents, between December 13, 2023, and August 29, 2024, the Drug Enforcement Administration used an undercover agent to conduct five controlled purchases of fentanyl and cocaine from Rodriguez-Jimenez. On February 9, 2024, law enforcement executed a search warrant at Rodriguez-Jimenez’s residence and located more than 1,700 grams of cocaine and over 230 grams of fentanyl.

    This case was investigated by the Drug Enforcement Administration. It is being prosecuted by Assistant United States Attorney Diane Hu.

    MIL Security OSI –

  • MIL-OSI Security: Clearwater Man Pleads Guilty To Obstructing And Impeding The Administration Of The Internal Revenue Laws

    Source: Office of United States Attorneys

    Tampa, Florida – United States Attorney Roger B. Handberg announces that Terence Taylor has pleaded guilty to obstructing and impeding the administration of the internal revenue laws for actions seeking to defeat the collection of back taxes he owed to the Internal Revenue Service (IRS). Taylor faces a maximum penalty of three years in federal prison.

    According to the plea agreement, Taylor was sentenced in 2012 for failing to file his income taxes for several years while he lived in the Northern District of New York. He owed more than $810,000 in taxes and was required to pay the tax debt during the term of his sentence.

    For more than seven years, continuing after he moved to the Middle District of Florida, Taylor engaged in a series of obstructive acts to defeat the efforts by the IRS to collect those taxes. During those years, Taylor hid assets from the IRS, placed other asserts and income in the names of alter egos or nominees such as his wife, and used money that he could have used to pay off his back taxes to make purchases of assets including boats, jewelry, and a home in Palm Harbor. Taylor continued to earn income from his work as a financial consultant during those years after 2012. He used that income for numerous personal purposes and expenses and only minimally paid his tax debt to the IRS during that time.

    The IRS made extensive efforts to collect on Taylor’s tax debt between 2004 and 2008. Aside from contacting Taylor on numerous occasions, IRS Revenue Officers also sent him numerous forms for detailing his financial situation. Taylor submitted false or incomplete information on those forms, omitting to record assets he owned such as boats and providing false information about his business and its accounts and dates of operation. Instead of using it to repay his tax debt, Taylor used his business income and bank accounts after 2012 to pay for a large number of personal expenses, including marina and yacht club expenses, boat expenses, and jewelry purchases, while knowing of his tax debt to the IRS. In February 2017, Taylor used income that he had earned from his business to buy a $73,000 boat, which he then titled in his wife’s name in an effort to shield that asset from the IRS collection effort.

    Taylor also failed to file personal income tax returns for several years after his New York sentence had ended. He did so, even though he was earning sufficient income requiring him to file tax returns.

    This case was investigated by the Internal Revenue Service – Criminal Investigation. It is being prosecuted by Assistant United States Attorney Jay L. Hoffer.

    MIL Security OSI –

  • MIL-OSI Security: Honduran National Sentenced To 12 Months In Federal Prison For Illegal Reentry Into The United States

    Source: Office of United States Attorneys

    Ocala, Florida – U.S. District Judge Thomas P. Barber has sentenced Mainor Danilo Alcerro (39, Honduras) to 12 months in federal prison for illegal reentry by a previously deported alien. Alcerro pled guilty on November 21, 2024.

    According to court documents, Alcerro is a citizen and national of Honduras. He was previously removed from the United States on three prior occasions: June 22, 2010, February 12, 2018, June 1, 2018. Afterward, he was found voluntarily back in the United States on September 22, 2024, when he was arrested by local law enforcement in Lake County, Florida. Alcerro has never applied for or received permission from the Attorney General or the Secretary of Homeland Security to reenter the United States.

    This case was investigated by Immigration and Customs Enforcement (ICE) Enforcement and Removal Operations (ERO). It was prosecuted by Assistant United States Attorney Sarah Janette Swartzberg.

    MIL Security OSI –

  • MIL-OSI Security: Mexican National Sentenced To 21 Months In Federal Prison For Illegal Reentry

    Source: Office of United States Attorneys

    Tampa, Florida – U.S. District Judge Richard A. Lazzara has sentenced Moises Moreno-Godinez (35, Mexico) to 21 months in federal prison for illegal reentry into the United States after deportation. Moreno-Godinez entered a guilty plea on October 31, 2024.

    According to court documents, Moreno-Godinez was convicted of aiding and abetting possession with intent to distribute 50 grams or more of methamphetamine on August 15, 2013, and deported from the United States to Mexico. Following his deportation, Moreno-Godinez illegally reentered the United States. 

    This case was investigated by U.S. Customs and Border Protection. It was prosecuted by Assistant United States Attorney Ross Roberts.

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