Category: KB

  • MIL-OSI Asia-Pac: A High-Level Committee (HLC), under the chairmanship of Union Home Minister and Minister of Cooperation, Shri Amit Shah approves Rs. 3027.86 crore for disaster mitigation for various states

    Source: Government of India

    A High-Level Committee (HLC), under the chairmanship of Union Home Minister and Minister of Cooperation, Shri Amit Shah approves Rs. 3027.86 crore for disaster mitigation for various states

    To fulfil Prime Minister Shri Narendra Modi’s vision of disaster resilient India, Ministry of Home Affairs, under the guidance of Home Minister Shri Amit Shah, has taken several initiatives to ensure effective management of disasters in the country

    HLC approves project for catalytic assistance to 12 most drought prone states at a total outlay of Rs. 2022.16 crore

    Committee also approves the Mitigation Project on Lightning Safety in 10 states at a total cost of Rs. 186.78 crore

    Union Home Minister also approves the Mitigation Scheme for Forest Fire Risk Management for implementation in 144 high-priority districts in 19 states at a total outlay of Rs. 818.92 crore

    Modi government has taken a number of steps to prevent any extensive loss to life and property during disasters by strengthening disaster risk reduction system in India

    More than Rs. 24,981 crore has already been released to the states during the current financial year

    Posted On: 29 JAN 2025 8:21PM by PIB Delhi

    A High-Level Committee (HLC), under the chairmanship of Union Home Minister and Minister of Cooperation, Shri Amit Shah has approved Rs. 3027.86 crore for disaster mitigation projects for various states. The committee, comprising of Finance Minister, Agriculture Minister and Vice Chairman NITI Aayog as members considered proposals of Mitigation Project on Lightning Safety to mitigate lightning Risk in 50 heavy lightning prone districts in 10 states and catalytic assistance to 49 districts of 12 most drought prone states for funding from National Disaster Mitigation Fund (NDMF).

    The High-Level Committee has approved project for catalytic assistance to 12 most drought prone states at a total outlay of Rs. 2022.16 crore, out of which, Central share will be Rs. 1200 crore.  These 12 states are Andhra Pradesh, Bihar, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana and Uttar Pradesh.

    The Committee has also approved the Mitigation Project on Lightning Safety in 10 states at a total outlay of Rs. 186.78 crore for Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Uttar Pradesh and West Bengal.

    Union Home Minister has also approved the Mitigation Scheme for Forest Fire Risk Management for implementation in 144 high-priority districts in 19 states at a total outlay of Rs. 818.92 crores, out of which central share from NDMF & NDRF will be Rs. 690.63 Crore. The primary objective of the scheme will be to implement a mitigation project for transforming the forest fire management approach in the country so as to strengthen and support vital forest fire prevention and mitigation activities .  The states of Andhra Pradesh, Arunachal Pradesh, Assam, Chhattisgarh, Gujarat, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Manipur, Maharashtra, Mizoram, Madhya Pradesh, Meghalaya, Nagaland, Odisha, Tamil Nadu, Telangana and Uttarakhand will submit their respective proposals undertaking necessary activities for mitigation of forest fires, preparedness for forest fire response as well as for post-fire assessment and recovery.

    To fulfil Prime Minister Shri Narendra Modi’s vision of disaster resilient India, the Ministry of Home Affairs, under the guidance of Home Minister Shri Amit Shah, has taken several initiatives to ensure effective management of disasters in the country. The Government under the leadership of Prime Minister Modi has taken a number of steps to prevent any extensive loss of life and property during disasters by strengthening the disaster risk reduction system in India. 

    Prior to these proposals, the HLC had approved financial assistance from NDMF for other projects viz. Urban Flood Risk Mitigation Projects in seven major cities at a total outlay of Rs 3075.65 crore, GLOF Risk Management in 4 states at a total outlay of Rs. 150 crore and Landslide Risk Mitigation in 15 states at a total outlay of Rs. 1000 Crore.

    Further, more than Rs. 24,981 crore has already been released to the states during the current financial year. This includes Rs.17479.60 crore from the State Disaster Response Fund (SDRF) to 27 states, Rs.4808.30 crore from the National Disaster Response Fund (NDRF) to 18 states, Rs.1973.55 crore from the State Disaster Mitigation Fund (SDMF) to 13 states and Rs. 719.72 crore from National Disaster Mitigation Fund (NDMF) to 08 states.

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    Raj Kumar / Vivek / Ashutosh / Priyabhanshu / Pankaj

    (Release ID: 2097448) Visitor Counter : 152

    Read this release in: Hindi

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: KEEL LAYING OF SEVENTH SHIP (BY 529, MACHILIPATNAM) OF ASW SWC PROJECT AT CSL, KOCHI

    Source: Government of India (2)

    Posted On: 29 JAN 2025 8:05PM by PIB Delhi

    Keel Laying of the seventh ship (BY 529, Machilipatnam) of the Anti-Submarine Warfare Shallow Water Craft (ASW SWC) project was undertaken on 29 Jan 25 in the presence of RAdm Upal Kundu, Chief of Staff, Southern Naval Command. Senior officials of the Indian Navy and CSL were also present for the ceremony. With almost all major and auxiliary equipment/ systems sourced from indigenous manufacturers, these ships exemplify the GoI Initiative of “Aatmanirbhar Bharat”. This milestone, in quick succession of the Keel Laying of the sixth ship in Dec 24 and Launching of the fourth and fifth ships at CSL in Sep 24, demonstrates the steadfast efforts of the Indian Shipyards to meet Indian Navy’s growing operational requirements.

    Contract for building eight ASW SWC ships was awarded to Cochin Shipyard Limited by the Ministry of Defence on 30 Apr 19. The ships known as the ‘Mahe’ class, will be equipped with indigenously developed, state-of-the-art underwater sensors, and are envisaged to undertake anti-submarine operations in coastal waters as well as Low Intensity Maritime Operations (LIMO) and Mine Laying Operations.

    The first ship of the project is planned to be delivered in early 2025. Besides enhancing Indian Navy’s Anti-Submarine Warfare capabilities, the high indigenous content on these ASW SWC ships is also generating large scale employment and capability enhancement of Indian Manufacturing Units.

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    VM/SKY                                                                                                         22/25

    (Release ID: 2097441) Visitor Counter : 67

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Dr. Mansukh Mandaviya Chairs National Conference with Labour Ministers and Secretaries of States & UTs in New Delhi

    Source: Government of India (2)

    Dr. Mansukh Mandaviya Chairs National Conference with Labour Ministers and Secretaries of States & UTs in New Delhi

    Union Minister Launches Occupational Shortage Index (OSI) and State and Union Territory Microsites under e-Shram

    All 36 States/UTs Expected to Complete Pre-publication of Harmonized Draft Rules in line with Labour Codes by 31st March 2025

    Discussions on Day 1 focused on Labour Reforms, ESIC Medical Facilities and Healthcare Infrastructure Reforms, Initiatives including the National Career Service (NCS) portal and the Model Career Centres (MCC)

    Posted On: 29 JAN 2025 8:16PM by PIB Delhi

    The two-day National level meeting with Labour Ministers and Secretaries of States & UTs, held in New Delhi, under the Chairmanship of Dr. Mansukh Mandaviya, Union Minister for Labour & Employment and Youth Affairs & Sports, commenced today. Sushri Shobha Karandlaje, Hon’ble Minister of State for Ministry of Labour and Employment, along with Hon’ble Labour Ministers from various States/UTs, were present during the meetings. Ms Sumita Dawra, Secretary, set the context for the deliberations.

    Delivering his inaugural address, Dr. Mandaviya emphasized on the need for undertaking labour reforms, which are crucial for realizing the vision of Viksit Bharat by 2047. He underscored that a fine balance between workers’ welfare and industrial growth must remain at the core of all policy decisions. He urged all States and UTs to participate in knowledge-sharing on reforms undertaken by them, in the spirit of cooperative federalism, and their inputs will be transformed into a comprehensive action plan to take forward the employment and labour reform agenda in India.

    Spread over two days (29th & 30th January 2025), these meetings are focusing on laying the groundwork for Labour Reforms, Social Security for Organized and Unorganized Workers including Gig and Platform Workers and expanding ESIC medical and healthcare services. There is equal focus on interventions for matching demand and supply in the labour market, promoting employment generation and employability through National Career Service (NCS) Portal and Model Career Centres (MCC), etc.

    Attended by Labour Ministers and senior officials from States/UTs, these meetings provide a platform for showcasing the reforms undertaken by States in line with the labour codes and promote cross learnings and knowledge sharing.

    During day one, discussions were focused on (i) Labour Reforms; (ii) ESIC medical facilities and healthcare infrastructure reforms; and (iii) Initiatives including the National Career Service (NCS) portal and the Model Career Centres (MCC).

    Labour Reforms

    Several States have undertaken reforms in line with labour codes under the existing Acts. These reforms are aimed at promoting greater ease of doing business, reduction in compliance burden, decriminalisation, promoting women participation in the workforce, and other employment and labour related interventions, leading to a friendlier ecosystem of labour regulations. Such interventions promote both employment generation and labour welfare, leading us on the path of Viksit Bharat by 2047.

    It was noted that over eighteen States/UTs have already implemented majority of the reforms and more than 32 States/UTs have pre-published the draft rules under the four Labour Codes, while the remaining States/UTs have made satisfactory progress, during the year. All 36 States/UTs expected to complete pre-publication of harmonized draft rules in line with the labour codes, by 31st March 2025.

    ESIC Medical Facilities and Healthcare Infrastructure Reforms

    Focussed discussions on (i) convergence of ESIC with PM-ABJAY; (ii) utilization of State Primary Health Centres (PHCs) and Community Health Centres (CHCs) for Primary/Secondary Medical Care; (iii) formation of State ESI Society; (iv) implementation of Dhanwantari Module in ESIS hospitals/ dispensaries and (v) designating Medical Colleges and Charity Hospitals as ESIC hospitals, was also one of the key highlights of the day.

    Leveraging the existing healthcare infrastructure including PM-ABJAY hospitals, PHCs / CHCs with upgradation of necessary medical facilities was emphasized to provide comprehensive benefits, especially in the underserved areas.

    Promoting Employability and Employment Generation

    On day one, Dr. Mansukh Mandaviya, Union Minister for Labour & Employment and Youth Affairs & Sports launched two significant initiatives – Occupational Shortage Index (OSI) and State and Union Territory Microsites under the e-Shram initiative. The OSI is a landmark initiative aimed at matching labour market demand and supply and enhancing employment outcomes across India. The eShram microsites would facilitate two-way integration and provide a one-stop-solution to unorganized workers for seamless access of social security and welfare, employment opportunities, skilling programmes, etc.

    During the session, States’ role in promoting the usage of National Career Service (NCS) portal and Model Career Centre (MCC) facilities was presented. States were urged to complete digitization of employment portals and integration with NCS on priority so that job seekers can widely gain from the one-stop solution for career-related services and physical hubs for career counseling and employment facilitation.

    Several useful insights and suggestions were shared by participants during day one. The Ministry in collaboration with States/UTs is compiling a comprehensive action plan to implement reforms in a focused manner.

    The day concluded with vibrant cultural programme showcasing the rich cultural heritage of India.

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    Himanshu Pathak

    (Release ID: 2097446) Visitor Counter : 22

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: ICG Seizes 53.6 kg of Ganja worth Rs 60 lakhs near Indo-Sri Lankan IMBL

    Source: Government of India (2)

    Posted On: 29 JAN 2025 8:01PM by PIB Delhi

    The Indian Coast Guard (ICG) seized 53.62 kg of ganja worth Rs 60 lakhs, near the Indo-Sri Lankan International Maritime Boundary Line (IMBL) on January 29, 2025. Acting on intelligence inputs, ICG Station Mandapam deployed an Air Cushioned Vehicle (ACV) for surveillance and search operations in the region. During an extensive search, the ACV spotted multiple abandoned packages on First Island, near the IMBL. Upon investigation, 12 packets of ganja were recovered. The seized contraband has been handed over to the Customs Department for further course of action.

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    SR/KB

    (Release ID: 2097439) Visitor Counter : 39

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister Dr. Mansukh Mandaviya Launches State-Specific Microsites under e-Shram Initiative & Occupational Shortage Index

    Source: Government of India

    Union Minister Dr. Mansukh Mandaviya Launches State-Specific Microsites under e-Shram Initiative & Occupational Shortage Index

    Occupational Shortage Index to Help in Matching Demand and Supply in the Labour Market and Promote Employment Generation

    Microsite Facility to Ensure Seamless Access to Welfare Programsfor Unorganized Workers

    Posted On: 29 JAN 2025 7:31PM by PIB Delhi

    Union Minister for Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya, launched two significant initiatives – State and Union Territory Microsites under the e-Shram initiative and the Occupational Shortage Index (OSI), today during the Meeting with State/UT Labour Ministers & Secretaries held in New Delhi. Sushri Shobha Karandlaje, Hon’ble Minister of State for Ministry of Labour and Employment, Labour Ministers from various States/UTs, Ms Sumita Dawra, Secretary and senior officials of Ministry of Labour and Employment, were also present during the meeting.

    Speaking at the launch, Dr. Mansukh Mandaviya stated, “The multilingual eShram microsite facility is a transformative initiative aimed at ensuring that unorganised workers have seamless access to both State and Central government welfare programs. This will not only empower workers but also enhance transparency and efficiency in welfare service delivery.”

    Regarding the OSI, he further added, “By leveraging real-time labour market data, we are ensuring that skill development and job matching processes are data-driven and tailored to the actual needs of industries, making our workforce future-ready.”

    e-Shram Microsites are state-specific digital platforms seamlessly integrated with the national e-Shram database. Facilitating two-way integration between State portals and the eShram portals, this will facilitate simplified registration of unorganised workers.

    This will provide a one-stop solution for seamless access toboth Central and State welfare programs for unorganised workers, employment opportunities, skilling programmes, etc.

    For States/UTs, the microsites provide a ready-to-use digital infrastructure, reducing the need for costly and time-consuming development processes. With real-time analytic dashboards, they facilitate better policy decision-making and allow States to include tools specific to their labour market requirements.

    For workers, the microsites offer a seamless registration process and access to a wide range of social security benefits. The platform ensures multilingual accessibility, enabling workers from different regions to access information and services in their preferred language. Through two-way integration with the e-Shram database, workers receive real-time updates on welfare schemes and employment opportunities.

    The second major initiative launched is the Occupational Shortage Index (OSI) to match labour market demand and supply, enhancing employment outcomes across India. Based on ILO methodology and quarterly PLFS data, the OSI provides data-driven insights into occupations facing shortages, helping align job seekers’ skills with industry demands.

    The OSI will support policymakers, training institutions, and businesses in bridging skill gaps in high-demand sectors. The index is designed to enable more effective decision-making in workforce planning and skill development initiatives, optimizing job matching and guiding State governments and employers in creating targeted skill development programs.

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    Himanshu Pathak

    (Release ID: 2097431) Visitor Counter : 32

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: India Leading the Global Energy Transition with Unprecedented Speed, Scale, and Scope: Union Minister Shri Pralhad Joshi

    Source: Government of India (2)

    India Leading the Global Energy Transition with Unprecedented Speed, Scale, and Scope: Union Minister Shri Pralhad Joshi

    India has not only set ambitious energy transition goals but has also been achieving them at a record pace : Union Minister Joshi

    Posted On: 29 JAN 2025 7:11PM by PIB Delhi

    Emphasizing India’s remarkable progress in Renewable Energy sector, Union Minister for New and Renewable Energy, Shri Pralhad Joshi said that India is leading the global energy transition with unprecedented speed, scale, and scope. He was addressing the third India Energy Transition Conference, organized by FICCI in New Delhi.

    Shri Joshi underlined that under the leadership of Prime Minister Shri Narendra Modi, India has not only set ambitious energy transition goals but has also been achieving them at a record pace. India has already achieved almost 100 GW of solar capacity and is set to add 50 GW of new renewable capacity annually in the coming years.In the last ten years, India’s installed renewable capacity has surged by almost 200%, from 75.52 GW in 2014 to 220 GW today. Additionally, he pointed out that the tariff for grid-connected solar power plants has decreased by 80%, from ₹10.95 per unit in 2010-11 to just ₹2.15 per unit,making India a leader in affordable renewable energy.

    The Minister also credited India’s policy stability and long-term vision as key drivers of its renewable energy success. The country is on track to achieve 500 GW of non-fossil fuel capacity by 2030, with an even more ambitious target of 1,800 GW by 2047. He also said that PM SuryaGhar Yojana, which aims to facilitate the installation of 1 crore solar panels, of which 8.5 lakh installations have already been completed. Union Minister Joshi also highlighted examples of PMSGY beneficiaries who started generating income from the rooftop solar installations.

    As India’s energy demand is expected to double by 2032, the Minister highlighted the need of even higher RE financing to meet 50 % of expected rise in demand through renewable energy. Union Minister Joshi also said that the Ministry is working towards ironing out the bottlenecks in RE sector by engaging more with stakeholders, and in this regard, MNRE will hold further consultations.

    Shri Joshi also highlighted India’s global recognition in the renewable energy sector. The Minister also said that India has now overtaken Brazil to become the third-largest renewable energy market globally.

    Speaking about Green Hydrogen, the Minister reiterated that India has been quick to recognize its potential and is now regarded as a global leader in this field. The SIGHT Programme, which focuses on electrolyser manufacturing and green hydrogen production, is expected to further drive innovation and industrial growth in this segment.

    He also highlighted the strong investor confidence in India’s renewable energy sector, citing that at the 4th RE-Invest event of Minister of New and Renewable Energy (MNRE) in Gandhinagar, investment commitments worth ₹32.45 lakh crore were made, along with pledges for 540 GW of solar and wind capacity.

    UnionMinister Joshi also launched the FICCI report on ‘Powering India’s Energy Transition’ at the event.  Secretary, Department of Financial Services, Shri M Nagaraju was also present.

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    Navin Sreejith

    (Release ID: 2097419) Visitor Counter : 48

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Prime Minister congratulates ISRO on historic 100th launch

    Source: Government of India (2)

    Posted On: 29 JAN 2025 6:57PM by PIB Delhi

    The Prime Minister Shri Narendra Modi congratulated the Indian Space Research Organisation (ISRO) on historic 100th launch, calling it an incredible milestone that illustrates the vision, dedication and commitment of our scientists and engineers. 

    Emphasizing the growing role of the private sector in India’s space journey, the Prime Minister expressed confidence that the nation will continue to achieve new heights in space exploration. 

    The Prime Minister posted on X;

    “Congratulations to @isro on the historic 100th launch! 

    This incredible milestone illustrates the vision, dedication and commitment of our scientists and engineers. 

    With the private sector joining hands, India’s space journey will continue to attain new heights.”

     

     

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    MJPS/ST

    (Release ID: 2097415) Visitor Counter : 61

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: CBIC destroys 10,413 kg seized narcotics and 94.62 lakh tablets worth Rs. 2,246 during Drug Disposal Drivefrom 11th to 26th January, 2025

    Source: Government of India (2)

    Posted On: 29 JAN 2025 6:53PM by PIB Delhi

    As part of Drug Disposal Driveby the Central Board of Indirect Taxes and Customs (CBIC), Ministry of Finance, from 11th to 26th, January, 2025, the field formations of CBIC destroyed around 7,844 kgganja, 1,724 kg methaqualone (mandrax), 560 kghashish/charas, 130 kg methamphetamine, 105 kgketamine, 23 kgheroin, 20 kg cocaine, 7 kg MDMA, 94.16 lakh tramadol HCL tablets, 46,000 alprazolam tablets and 586 ampules of injections of various drugs.

     

    The illicit international market value of destroyed NDPS is around Rs. 2246 crores. The destruction was carried out in a safe and non-hazardous manner at multiple locations across India.

     

    The Drug Disposal Drive not only underscores CBIC’s commitment towards combating NDPS trafficking but also aims to promote awareness among public of the initiatives being taken by CBIC in this regard. The drive coincides with the nationwide drive launched by Union Home Minister during regional conference on Drug Trafficking and National Security held on 11th January 2025 at New Delhi.

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    NB/KMN

    (Release ID: 2097413) Visitor Counter : 65

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: National Conference on Good Governance Commences Tomorrow in Gandhinagar

    Source: Government of India

    National Conference on Good Governance Commences Tomorrow in Gandhinagar

    Chief Minister Shri Bhupendra Patel and Union Minister of State Dr. Jitendra Singh to Inaugurate the Two-Day Event

    Emerging Technologies to Enhance Service Delivery Strategies to be discussed

    Two exclusive sessions focused on Gujarat’s best governance practices

    Posted On: 29 JAN 2025 6:42PM by PIB Delhi

    The National Conference on Good Governance, organized by the Department of Administrative Reforms and Public Grievances (DARPG) in collaboration with the Government of Gujarat, begins 30.01.25 in Gandhinagar. Hon’ble Chief Minister of Gujarat Shri Bhupendra Patel and Hon’ble Union Minister Dr. Jitendra Singh will inaugurate the two-day event, delivering keynote addresses during the inaugural session.

    The conference includes six focused sessions exploring innovative governance practices and emerging technologies aimed at strengthening public service delivery. The sessions will provide a platform for 30 distinguished speakers, including senior officials, district collectors, and award-winning practitioners, to share insights and case studies. Two sessions are exclusively dedicated to Gujarat’s pioneering e-Governance initiatives.

    The inaugural session will also feature addresses by Shri Raj Kumar, Chief Secretary, Government of Gujarat, and Shri V. Srinivas, Secretary, DARPG.

    The conference will feature the launch of the e-Journal MGMG, which highlights shortlisted initiatives for the prestigious National e-Governance Awards 2024, and the unveiling of the SCI portal.

    The first session on “Government Process Re-engineering for Digital Transformation/ Emerging Technologies for providing Citizen Centric Services” of the National Conference, will be chaired by Dr. S.N. Tripathi, Director General, Indian Institute of Public Administration

    It will be followed by a brief presentation on Prime Minister Awards, 2024 and National Conference on e-Governance by Additional Secretary, DARPG Shri Puneet Yadavand Joint Secretary, DARPG Smt Sarita Chauhan respectively.  

    Session II on the topic, “District Level Initiative in e-Governance”will hold deliberations on Best Practices. Smt. Sarita Chauhan will chair the Session.Session III on the topic, “Best Practices of Government of Gujarat” will be chaired by Shri Mona Khandhar, PS (DST).

    On Day 2 of the National Conference, Ms Jayanti S Ravi, ACS (Revenue) will chair the session – IV on the topic, Emerging Technologies in Digital Transformation for Citizen”.. In session V, Sh M.K. Das, ACS (Home) will chair the discussion on “Government Process Re-engineering for Digital Transformation (Central level Initiative)”. Sh Mukesh Kumar, ACS (Education) will chair the last session before the valedictory session on the topic, Best Practices of Govt. of Gujarat (II).

    The conference will also feature presentations by representatives of the best practices, highlighting transformational changes achieved under select government schemes.

    The main objective of the Conference is to bring together national and state-level public administration organizations to exchange experiences and innovations in public administration. It seeks to foster discussions on e-Governance, digital transformation, and good governance practices, ensuring broader dissemination and potential replication of successful initiatives. State representatives, including DMs and DCs, will present case studies showcasing their achievements in governance.

     

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    NKR/PSM

    (Release ID: 2097409) Visitor Counter : 35

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: 76 on 76: Celebrating India’s creative diversity with WAVES Comics Creator Championship

    Source: Government of India

    76 on 76: Celebrating India’s creative diversity with WAVES Comics Creator Championship

    76 semi-finalists of the challenge announced on the occasion of 76th Republic Day; 40 amateur creators, 30 professionals, & 6 special mentions, set to compete in the finale

    Comic Challenge providing a platform for Indian comic creators to engage with international audiences and forge new partnerships

    Posted On: 29 JAN 2025 6:24PM by PIB Delhi

    Continuing the festive fervour of  76th Republic Day, the Ministry of Information and Broadcasting (MIB), in partnership with the Indian Comics Association (ICA), has announced the 76 semi-finalists of the WAVES Comics Creator Championship.

    Celebrating the diversity of Indian comics

    This landmark initiative celebrates the diversity of Indian comics, showcasing the talents of creators from across the country. The geographical spread of the semi-finalists, selected from a vast pool of entries, is particularly noteworthy, with creators hailing from 50 cities across 20 states and NCR.

    The selection includes creators from major metropolitan cities like Mumbai, Delhi, and Bengaluru, as well as smaller towns and cities like Anand, Betul, Kalka, Samastipur, and cities from the North East like Guwahati and Imphal. This demonstrates the championship’s commitment to promoting talent from all corners of the country.

     

    This is a testament to India’s vibrant comic book culture as WAVES is committed to provide a platform for these talented creators to shine. The semi-finalists, aged between 10 and 49 years, include 40 amateurs, and 30 professionals.

     

    The Semifinalists also includes 6 special mentions for young artists, demonstrating the championship’s commitment to nurturing talent at all levels.

     

    “The Indian Comics Association is delighted to partner with the Ministry of Information and Broadcasting to promote Indian comics globally,” said Ajitesh Sharma, President of the Indian Comics Association. “This initiative is a shining example of our government’s commitment to supporting creative industries and providing opportunities for emerging talent.”

    WAVES Comics Creator Championship

    The WAVES Comics Creator Championship is a flagship event propelling the MIB’s ‘Create in India’ initiative to elevate India’s creative industries on the world stage. The championship provides a unique platform for Indian creators to engage with international audiences and forge new partnerships.

    The MIB and ICA congratulate the 76 semi-finalists and wish them the best of luck as they move forward in the championship.

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    Kshitij Singha

    (Release ID: 2097406) Visitor Counter : 68

    MIL OSI Asia Pacific News

  • MIL-OSI USA: A Heartbeat of Tradition: UConn Nursing Provides Stethoscopes to Sophomore Students

    Source: US State of Connecticut

    On the first day of each spring semester, sophomores like first-generation student Flormarie Lopez ’27 (NUR), are gifted a stethoscope before entering their junior year when clinical rotations begin.  

    NURS 3120 Health Assessment taught by Michele Cole, DNP, MSN, RN, CPN, and Yashika Sharma, Ph.D., RN, teaches students how to take and interpret vital signs, exercise sound clinical judgment, and how to approach patients – skills that they will use every day as a practicing nurse.   

    Through an endowed scholarship by UConn Nursing alum Margaret E. “Peggy” Sczesny ’69 (NUR), ’79 MS, these gifted stethoscopes are a fundamental tool that enhances confidence and symbolizes professionalism. It can help aid in diagnosis and assessment and serves as a constant companion.  

    I cherish this gift as a UConn student nurse – David Gorski ’26 (NUR)

    “I cherish this gift as a UConn student nurse,” says David Gorski ’26 (NUR). “I use my stethoscope every day in clinical. It’s very important to me to know how to use it and what to look for as we transition from students to health care practitioners.”  

    In addition to providing stethoscopes for sophomores, the Traditions Fund (as part of this scholarship) also finances nursing pins for all undergraduate and accelerated Certificate of Entry into Nursing (CEIN/BS) students at graduation.

    “The fact that donors provided this gift to nursing students is both touching and encouraging because getting a stethoscope is the first step towards feeling prepared for new endeavors in the clinical setting,” says associate clinical professor Marianne (Mimi) Snyder, Ph.D., MSN, RN.  

    Lopez says, “As a first-gen student, it’s so honoring to be able to show this to my mom and my family in Guatemala, being the first in my family to do something like this.” 

    Thanks to this generous gift, generations of UConn Nursing students will carry a reminder of their educational roots with them for years to come. 

    To contribute to the UConn School of Nursing please visit: https://nursing.uconn.edu/info-for/donors/  

    MIL OSI USA News

  • MIL-OSI Europe: Written question – Incompatibility of amendments to the Polish Electronic Services Act with the Digital Services Act (DSA) – E-000257/2025

    Source: European Parliament

    Question for written answer  E-000257/2025
    to the Commission
    Rule 144
    Jadwiga Wiśniewska (ECR)

    In amending Polish law in line with the DSA, the Ministry of Digitalisation is introducing amendments to the Polish Electronic Services Act.

    The director of the Electronic Communications Office (UKE) is being given the power to block online content infringing, inter alia, personal rights or intellectual property rights. The decision will be immediately enforceable – i.e. the provider must remove the content without waiting for a court decision.

    This may result in content critical of the government being censored, as the appointment of the director of the UKE is heavily influenced by whichever political force is dominant.

    The powers to be conferred on the director of the UKE resemble preventive state censorship, which is prohibited under Article 54 of the Constitution (guaranteeing everyone the freedom to express their opinions and to obtain information), and they are incompatible with Article 11 of the Charter of Fundamental Rights of the EU, to which the Regulation refers.

    Could the Commission please answer the following questions:

    • 1.Does the Commission not consider such a mechanism to be incompatible with the Regulation’s objectives of achieving more effective protection of fundamental rights, including guaranteeing freedom of expression and privacy, and greater transparency in content moderation decisions?
    • 2.Is the broad scope of content that may be removed under the Polish law compatible with the definition of ‘illegal content’ under Article 3(h) of the Regulation?
    • 3.Does the Commission consider that the powers of the director of the UKE are safeguarded by the procedural guarantees under Article 9 of the Regulation, which limit the risk of arbitrary use of powers by the national authority?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Commission influence on Parliament through lobby groups – P-000351/2025

    Source: European Parliament

    Priority question for written answer  P-000351/2025/rev.1
    to the Commission
    Rule 144
    Markus Buchheit (ESN)

    It has recently come to light that the Commission has been trying to support the spread of e-mobility by funding lobby groups under the Programme for the Environment and Climate Action.[1]

    • 1.To what extent does the Commission regard it as compatible with the principles of separation of powers and of democratic decision-making for NGOs to be tasked with influencing how MEPs vote?
    • 2.What action does the Commission plan to take to make such support more transparent and prevent possible conflicts of interest?
    • 3.Is the Commission planning to review or amend existing contracts with NGOs under the Programme for the Environment and Climate Action?

    Submitted: 27.1.2025

    • [1] https://www.focus.de/auto/news/umstrittene-finanzierung-eu-bezahlt-gruene-pressure-groups-zur-durchsetzung-ihrer-elektroauto-agenda_id_260659379.html
    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Security: U.S. Marshals Working to Locate Craven County Escapee

    Source: US Marshals Service

    Raleigh, NC – The U.S. Marshals (USMS) have joined the search for a man wanted for escaping Jan. 26 from the Craven County Detention Facility in New Bern.

    John Matthew Nigh, 37, has an extensive criminal history to include attempted murder of law enforcement, drugs and weapons charges and was being held on attempted murder charges when he escaped from the facility.

    The USMS Carolinas Regional Fugitive Task Force, along with the North Carolina State Bureau of Investigations, are assisting in the search and have offered a reward of up to $5,000 for information that leads to Nigh’s arrest.
      
    Nigh is described as white man, standing 6 feet 3 inches and weighing approximately 175 pounds. He has brown hair and brown eyes. He has a tattoo of a cross on his right arm, the initials “JMN” on his upper left arm, “LIFE” on his left leg and “TRIBAL” on his right shoulder.

    He should be considered armed and dangerous.

    Anyone with information is urged to contact the USMS at 1-877-WANTED2 or send tips via the USMS Tips App.  

    MIL Security OSI

  • MIL-OSI Europe: Written question – EU actions on the energy crisis in Moldova – E-000094/2025

    Source: European Parliament

    Question for written answer  E-000094/2025/rev.1
    to the Commission
    Rule 144
    Piotr Müller (ECR)

    Moldova’s recent accusations that Russia triggered the Transnistria crisis by manipulating gas supplies and supporting destabilisation activities underline the need for the EU to step up its efforts to promote stability and provide support in Eastern Europe.

    • 1.What specific forms of humanitarian, financial and political support is the Commission already implementing or planning to implement in order to help Moldova deal with the energy crisis, especially in the Transnistria region? What measures are being taken to support Moldovan citizens affected by the reduction in gas supplies, including in cooperation with international organisations and EU Member States?
    • 2.How does the Commission intend to counter Russian influence in Transnistria and prevent further destabilisation of the region and what mechanisms is the Commission implementing to curb Russia’s activities, including providing support for separatist movements and carrying out energy blackmail?

    Submitted: 13.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Security: John Matthew Nigh

    Source: US Marshals Service

    NOTICE TO LAW ENFORCEMENT: Before arrest, verify warrant through the National Crime Information Center (NCIC). If subject is arrested or whereabouts known, contact the nearest U.S. Marshals Service office, American Embassy/Consulate, call the U.S. Marshals Service Communications Center at 1-800-336-0102, or submit a tip using U.S. Marshals Service Tips.

    For More Information Scan Code Above.

    MIL Security OSI

  • MIL-OSI Europe: Written question – The impact of tax hikes in Spain – A threat to competitiveness and social cohesion – E-000251/2025

    Source: European Parliament

    Question for written answer  E-000251/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    We view with great concern the fiscal policy of the current Spanish Government, led by Pedro Sánchez. The government has announced an unprecedented tax increase, estimated at EUR 60 billion. This increase represents a revenue equivalent to Spain’s annual spending on education, or double the amount obtained through corporate taxation, and is a disproportionate blow to citizens, who are already affected by inflation and economic stagnation.

    Spain does not need more taxes; it needs structural reforms. The excuse of harmonising the tax burden with other EU countries is unfounded, as it fails to consider that richer countries have robust economies that can support higher tax burdens without harming their citizens. In Spain, by contrast, a poorly designed tax model continues to punish labour recruitment and entrepreneurship. We are concerned that these fiscal plans ignore viable alternatives, such as optimising public spending.

    In view of this:

    • 1.How does the Commission assess the impact of a tax hike of this magnitude on Spain’s economic competitiveness and social cohesion?
    • 2.What measures does the Commission propose to prevent NextGenerationEU funds from being wasted on ineffective projects?
    • 3.Is the Commission considering revising its approach to Spain to prioritise structural reforms rather than tax increases?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Cybersecurity scandal in the Spanish Tax Agency – E-000250/2025

    Source: European Parliament

    Question for written answer  E-000250/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    We are extremely concerned about the alarming cybersecurity situation in Spain, specifically in relation to the recent announcement of an alleged theft of data from the Spanish Tax Agency. According to numerous reports and cybersecurity companies, a group of hackers, using advanced technology called ‘Trinity’, claims to be in possession of more than 560 GB of sensitive information on Spanish taxpayers.

    While the Spanish government has denied evidence of the attack, the country’s own cybersecurity experts are seriously investigating the threat. This incident, together with previous episodes such as the attack on the Spanish Directorate-General for Traffic, is evidence of an alarming lack of preventive measures and inadequate management in the protection of citizens’ sensitive data.

    The seriousness of this case not only puts citizens’ privacy at risk, but also exposes systemic negligence in the Spanish public administration.

    In light of the above, can the Commission answer the following:

    • 1.Does the Commission consider that Member States’ state cybersecurity systems should be more strictly assessed by EU bodies to avoid cross-border risks?
    • 2.What action does the Commission intend to take to ensure that personal data across the EU is protected against national negligence?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – The sustainability of Spanish public spending – E-000252/2025

    Source: European Parliament

    Question for written answer  E-000252/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    The sustainability of the public benefit system in Spain faces a serious challenge. According to recent data, the number of people who depend on public salaries, pensions and subsidies already exceeds those working in the private sector: 18 million versus 17.7 million. This situation, combined with a rapidly ageing population and pension expenditure that reached EUR 12.8 million in August, calls into question the future viability of the system.

    The problem is not only demographic, but structural. The Spanish Government has promoted policies of uncontrolled public spending, increasing citizens’ dependence on the state and weakening the business and productive fabric. Without a robust private sector to generate employment and wealth, the system will collapse.

    Reforms are needed to promote efficiency, reduce wasteful spending and foster an enabling environment for the private sector.

    In view of the above:

    • 1.What measures does the Commission plan to implement to encourage the sustainability of the pension system in Member States with critical demographics such as Spain?
    • 2.What strategies does the Commission suggest to strengthen the private sector and reduce citizens’ dependence on state subsidies?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Germany: INERATEC’s e-fuel demo plant in Frankfurt gets €70 million from EIB, EU-Commission and Breakthrough energy

    Source: European Investment Bank

    • The Capital injection will finance development of Europe’s first large-scale e-Fuel plant in Frankfurt and further research and development of INERATEC`s e-Fuels.
    • INERATEC`s e-fuels will support compliance with EU regulation requirements to add synthetic aviation fuel to kerosene to decarbonize aviation
    • Financing includes a €30million grant by Breakthrough Energy Catalyst, their first in Germany, underpinning the maturity of INERATEC’S technology 

    The European Investment Bank (EIB) and Breakthrough Energy Catalyst are providing a €70 million funding package through the EU-Catalyst Partnership to INERATEC, a Germany based e-fuel company. The EIB is providing a €40 million venture-debt-loan, backed by the EU`s InvestEU-program, while Breakthrough Energy Catalyst is awarding a grant of €30 million. The package will support the financing of INERATEC’s carbon neutral e-fuel production plant in Frankfurt, as well as further research and development. The Frankfurt plant is set to be Europe`s largest when opening in 2025.

    Long term market growth expected for e-SAF and e-Fuels

    E-fuel production uses CO2 and hydrogen to produce synthetic fuels and chemicals that are carbon neutral or close to carbon neutral when used. They have significant potential in hard-to-decarbonize sectors such as aviation, where commercial demand is underpinned by clear regulation. Therefore, long-term market growth can be expected.

    The EU’s ReFuelEU Aviation regulation requires that aviation fuel suppliers provide jet-fuel with 1.2 per cent minimum synthetic fuel content by 2030, rising to 35 per cent in 2050. Based in Karlsruhe, Germany, INERATEC is well placed for this growing market, offering an efficient, scalable modular design.

    INERATEC’S Frankfurt plant will produce up to 2,500 tons of e-fuels and e-chemicals, including e-sustainable aviation fuel (e-SAF). The plant will also incorporate an upgrading facility, enabling the e-crude oil to be refined into certifiable, ready-to-use sustainable aviation fuel on site. The fuel will support compliance with the EU’s synthetic aviation fuel mandate.

    INERATEC’s Frankfurt plant to show e-Fuel production is possible at scale

    EIB-Vice-President Nicola Beer said: “E-fuels are a crucial part of achieving a competitive net-zero economy, particularly in the mobility and transport sector. Game-changing technologies like Ineratec’s play a vital role in this transition. Together with the European Commission and Breakthrough Energy, through the EIB’s venture debt product, we are supporting an innovative startup in scaling up production and advancing research to make e-fuels a viable, sustainable alternative to fossil fuels.”

    INERATEC CEO Tim Boeltken said: “INERATEC’S Frankfurt production plant will show that e-fuel production is no longer a technological concept but a scalable reality. Reliable production of certifiable e-SAF is possible in the near-term – at commercial scale, that will be a breakthrough for sustainable aviation. This investment from EIB and Breakthrough Energy Catalyst is a sign of confidence in the INERATEC technology and approach.”

    Mario Fernandez, Head of Breakthrough Energy Catalyst, adds: “We are delighted to be working with INERATEC. This ground-breaking project will bring us a decisive step closer to the decarbonisation of aviation.”

    The financing reinforces EIB position as the ‘The Climate Bank’, a priority in the EIB Group’s 2024-2027 Strategic Roadmap, and supports the objectives of the European Commission’s RefuelEU aviation regulations.

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. Since 2015, the EIB has invested €6 billion in Venture Debt, backing over 200 companies and realising over 50 exits. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deep-tech and life sciences sectors.

    INERATEC is committed to defossilizing and decarbonizing the world. The company produces e-Fuels and e-chemicals: carbon-neutral fossil fuel substitutes for use in the aviation, shipping and chemical industries. Its modular, scalable plants use renewable hydrogen and biogenic CO2 to produce synthetic kerosene, gasoline, diesel, waxes, methanol or natural gas. It is building what will be the world’s largest e-fuels plant to date, in Frankfurt, which will produce up to 2,500 tonnes of ultra-low-carbon aviation fuel per year. The company is based in Karlsruhe, Germany and backed by diverse international investors. www.ineratec.com

    Breakthrough Energy is committed to accelerating the world’s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.

    Breakthrough Energy Catalyst is a novel platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. By investing in these opportunities, Catalyst seeks to accelerate the adoption of these technologies worldwide and reduce their costs.

    Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team’s energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding and ultimately, to construction. Learn more about Breakthrough Energy and Catalyst at breakthroughenergy.org.

    MIL OSI Europe News

  • MIL-OSI Europe: Study – Le principe de protection de l’environnement, une perspective de droit comparé: Union européenne – 29-01-2025

    Source: European Parliament

    Ce document s’intègre dans une série d’études qui, avec une perspective de droit comparé, visent à faire une présentation du principe de protection de l’environnement dans différents ordres juridiques. Après avoir expliqué le droit positif et la jurisprudence d’application, le contenu, les limites et la possible évolution de ce principe sont examinés. La présente étude a pour objet le cas de l’Union européenne. Le principe est garanti par une série de dispositions des traités et l’article 37 de la Charte des droits fondamentaux. Il est mis en œuvre par un arsenal quantitativement et qualitativement très important de normes et réglementations qui font l’objet d’une abondante jurisprudence de la Cour de justice de l’Union européenne sur l’interprétation et l’application de ce droit dérivé. L’étude approfondit de manière critique les composantes du principe et la façon dont celui-ci se combine avec d’autres principes ou droits.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Request to eliminate subsidies for Morocco – E-000245/2025

    Source: European Parliament

    Question for written answer  E-000245/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    Morocco, a country with a limited gross domestic product per capita and an economy still dependent on traditional sectors, is experiencing significant economic growth thanks to long-term strategies. This development is having a direct impact on Spain, especially in strategic sectors such as industry and logistics. Massive foreign investment, extremely favourable fiscal conditions and projects such as the development of the port of Tanger Med, which already exceeds the port of Algeciras in terms of traffic, are evidence of a model that is keeping Spain’s competitiveness in check.

    However, Spain is not only facing an external challenge. Misguided policy decisions have contributed to weakening essential infrastructures such as the rail corridor to Algeciras, hampering its competitiveness. Moreover, the Spanish Government has allowed a worrying dependence on Morocco in strategic areas such as the control of migratory flows and natural resources, compromising national sovereignty and economic stability.

    All this proves that the economic balance within the European Union is at stake. In view of the above:

    • 1.What measures is the Commission considering to ensure that European subsidies to non-EU countries do not harm Member States?
    • 2.What specific initiatives is the Commission planning to strengthen the logistical corridors in southern Europe, such as the Algeciras corridor?
    • 3.Is the Commission assessing the economic impact of Morocco’s fiscal and labour policies on key European industries?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Alleged breach of cooling-off period rules for former Commissioners – E-000229/2025

    Source: European Parliament

    Question for written answer  E-000229/2025
    to the Commission
    Rule 144
    Marieke Ehlers (PfE), Auke Zijlstra (PfE), Ton Diepeveen (PfE)

    The Commission has authorised former Commissioner Thierry Breton to join the US company Bank of America. This decision would appear to be at odds with the rules in force, which set a 2-year cooling-off period for former Commissioners, and with Article 245 of the Treaty on the Functioning of the European Union (TFEU).

    The cooling-off period applies to relations that are susceptible to lobbying or a potential conflict of interests.

    Mr Breton appears to demonstrate that his role on the bank’s Global Advisory Council (GAC) will be purely advisory and unremunerated, but does not appear to rule out a conflict of interests.

    • 1.Is an unremunerated job a valid reason for exempting a former Commissioner from the cooling-off period?
    • 2.Does the Commission consider that a ‘purely advisory role’ by definition rules out lobbying?
    • 3.How will the Commission verify whether Mr Breton is engaging in lobbying or not in the exercise of his duties on the GAC, and how will it monitor any conflicts of interest that may arise in the exercise of his duties on the GAC?

    Submitted: 20.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Italy’s compliance with Directive (EU) 2015/2366 in relation to electronic payment fees on pagoPA – E-000238/2025

    Source: European Parliament

    Question for written answer  E-000238/2025
    to the Commission
    Rule 144
    Pasquale Tridico (The Left), Dario Tamburrano (The Left)

    Directive (EU) 2015/2366 (PSD2) requires Member States to prevent payees from charging fees for the use of payment instruments for which the interchange fees are regulated by Chapter II of Regulation (EU) 2015/751.

    In Italy, the pagoPA platform charges fees for payments made with debit or credit cards, at varying rates depending on the payment service provider chosen. These fees may represent a burden for citizens using electronic payment instruments to fulfil their administrative obligations.

    In view of the above, can the Commission answer the following questions:

    • 1.Is the Commission aware of the fact that fees are being charged for electronic card payments on pagoPA in Italy, and does it consider this to be in line with the provisions of the PSD2 and Regulation (EU) 2015/751?
    • 2.Will it check that Italy is complying with EU legislation on payment services, in particular with regard to the charging of fees for electronic payments made to the public administration?
    • 3.Will it take measures to ensure that electronic payments to public bodies do not come with additional fees, in line with the PSD2’s objectives of promoting the use of efficient and secure electronic payment instruments?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Gender inclusivity in Italy’s National Guarantor Authority for the rights of persons with disabilities – E-000239/2025

    Source: European Parliament

    Question for written answer  E-000239/2025
    to the Commission
    Rule 144
    Pasquale Tridico (The Left), Carolina Morace (The Left)

    The National Guarantor Authority for the rights of persons with disabilities – established in March 2024 and operational since 1 January 2025 – was set up to implement the 2006 UN Convention on the Rights of Persons with Disabilities.

    The Presidents of the Chamber of Deputies and the Senate appointed three male members to the Authority’s board, meaning there is no female representation at all, which is clearly at odds with the principles of equality and inclusivity.

    Article 8 TFEU and Article 23 of the EU Charter of Fundamental Rights enshrine the principle of gender equality, requiring the Union and the Member States to eliminate inequalities and promote gender balance in all their policies.

    The lack of transparency in the selection criteria undermines the impartiality of, and confidence in, the decision-making process.

    In view of the above:

    • 1.Does the Commission consider it acceptable that the Guarantor Authority – an institution responsible for combating discrimination – is made up entirely of men, despite the fact that women with disabilities face significant multiple discrimination?
    • 2.What measures will it take to ensure balanced gender representation on the boards of guarantor authorities, in line with the principles enshrined in Article 8 TFEU and Article 23 of the Charter?
    • 3.Will it propose legislative changes to ensure that transparent, inclusive and impartial selection criteria are used in similar situations?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Free-trade agreements: impact on the EU’s trade balance – E-000240/2025

    Source: European Parliament

    Question for written answer  E-000240/2025
    to the Commission
    Rule 144
    Barbara Bonte (PfE)

    The Commission announced last week that it had reached a political agreement with Mexico on modernising the Global Agreement with that country, which was concluded in 2000, and had begun negotiations with Malaysia on a free-trade agreement.

    • 1.What has been the impact of the Global Agreement with Mexico on the EU’s trade balance?
    • 2.What products and services does Mexico supply the EU with that we cannot produce within the EU ourselves?
    • 3.What products and services will Malaysia supply the EU with that we cannot produce within the EU ourselves?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI: Adams Resources & Energy, Inc. Stockholders Approve Acquisition by an Affiliate of Tres Energy LLC

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) — Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) (“Adams” or the “Company”) announced today that its stockholders have voted at a special meeting of the Company’s stockholders (the “Special Meeting”) to approve the pending acquisition of the Company by an affiliate of Tres Energy LLC. Under the terms of the merger agreement that was approved at the Special Meeting, Adams stockholders will receive $38.00 per share in cash for each share of Adams common stock they own immediately prior to the effective time of the merger.

    Approximately 77% of the Company’s outstanding shares were voted at the Special Meeting, and the merger was approved by over 76% of the Company’s outstanding shares. The final voting results on the proposals voted on at the Special Meeting will be set forth in a Form 8-K that will be filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”).

    The merger is expected to close in early February 2025, subject to customary closing conditions.

    Forward-Looking Statements and Information

    This communication contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that are not statements of historical fact, including statements about the timing of the proposed transaction, Adams’s ability to consummate the proposed transaction and the expected benefits of the proposed transaction, may be deemed to be forward-looking statements. All such forward-looking statements are intended to provide management’s current expectations for the future of the Company based on current expectations and assumptions relating to the Company’s business, the economy and other future conditions. Forward-looking statements generally can be identified through the use of words such as “believes,” “anticipates,” “may,” “should,” “will,” “plans,” “projects,” “expects,” “expectations,” “estimates,” “forecasts,” “predicts,” “targets,” “prospects,” “strategy,” “signs,” and other words of similar meaning in connection with the discussion of future performance, plans, actions or events. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict. Such risks and uncertainties include, among others: (i) the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur, (ii) risks related to disruption of management time from ongoing business operations due to the proposed transaction, (iii) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of Adams, (iv) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Adams to retain customers and retain and hire key personnel and maintain relationships with its suppliers and customers, (v) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Merger Agreement, including in circumstances requiring the Company to pay a termination fee, (vi) unexpected costs, charges or expenses resulting from the Merger, (vii) potential litigation relating to the Merger that could be instituted against the parties to the Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto, (viii) worldwide economic or political changes that affect the markets that the Company’s businesses serve which could have an effect on demand for the Company’s products and services and impact the Company’s profitability, and (ix) disruptions in the global credit and financial markets, including diminished liquidity and credit availability, cyber-security vulnerabilities, crude oil pricing and supply issues, retention of key employees, increases in fuel prices, and outcomes of legal proceedings, claims and investigations. Accordingly, actual results may differ materially from those contemplated by these forward-looking statements. Investors, therefore, are cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in Adams’s filings with the SEC, including the risks and uncertainties identified in Part I, Item 1A – Risk Factors of Adams’s Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company’s other filings with the SEC.

    These forward-looking statements speak only as of the date of this communication, and Adams does not assume any obligation to update or revise any forward-looking statement made in this communication or that may from time to time be made by or on behalf of the Company, whether in response to new information, future events, or otherwise, except as required by applicable law.

    There can be no assurance that the proposed transaction will in fact be consummated. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this communication. The Company undertakes no obligation or duty to update or revise any of these forward-looking statements after the date of this communication, whether in response to new information, future events, or otherwise, except as required by applicable law.

    About Adams Resources & Energy, Inc.

    Adams Resources & Energy, Inc. is engaged in crude oil marketing, transportation, terminalling and storage, tank truck transportation of liquid chemicals and dry bulk and recycling and repurposing of off-spec fuels, lubricants, crude oil and other chemicals through its subsidiaries, GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, L.L.C., GulfMark Terminals, LLC, Phoenix Oil, Inc., and Firebird Bulk Carriers, Inc. For more information, visit www.adamsresources.com.

    About Tres Energy LLC

    Tres Energy LLC is a privately held limited liability company that invests in and operates strategic energy assets across the United States. For more information, visit www.tres-energy.com.

    Company Contact

    Tracy E. Ohmart
    EVP, Chief Financial Officer
    tohmart@adamsresources.com
    (713) 881-3609

    The MIL Network

  • MIL-OSI Europe: Written question – Development aid to Pakistan – E-000242/2025

    Source: European Parliament

    Question for written answer  E-000242/2025
    to the Commission
    Rule 144
    Barbara Bonte (PfE)

    The EU provides approximately EUR 100 million a year in development aid to Pakistan. Part of these funds go to education.

    • 1.What control mechanisms does the Commission have in place to ensure that these funds do not serve to strengthen Islamic extremist education in Pakistan?
    • 2.Education across the EU is suffering from a dramatic drop in quality, teacher shortages, and problems directly linked to mass migration. In light of this, what arguments can the Commission put forward to justify funding education in other continents – particularly Islamic education?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Debates – Wednesday, 29 January 2025 – Brussels – Revised edition

    Source: European Parliament

     

      Corrie Hermann. – Dear President of the European Parliament, dear Roberta Metsola, dear Presidents, dear Members, Commissioners, excellencies, distinguished guests, this story about one Holocaust victim is dedicated to every one of the 6 million victims whom we deplore today.

    My father, Hermann Pál, was born on 27 March 1902 in Budapest, in a well-to-do family. At the time, Budapest was still the second capital of the Habsburg Empire – the era which Stefan Zweig depicts in Die Welt von Gestern. The Jewish citizenry had become gradually an integral part of the community, and joined intensively in the professional, cultural and financial life.

    Hermann Pál was intelligent and musical, and was admitted, at the age of 15, as a cello student at the famous Franz Liszt Academy, established in 1875 – the cradle of many generations of top musicians from Hungary. His best friend became the violinist Székely Zoltán, who would become a worldwide-known soloist and the first violinist of the New Hungarian String Quartet. Pál developed not only as a cellist but also as a composer. His teachers were Kodály and Bartók.

    Even before the formal completion of his training, he reaped his first success in a private concert at the house of Arnold Schönberg with the ‘Sonata for Cello Solo’, which Kodály had composed a few years earlier. A performance of this sonata at a concert in Switzerland, which was organised by the International Society of Contemporary Music, was the first step in his international career.

    But in the meantime, the First World War had raged in Europe. The Habsburg Empire was no more. Hungary’s wings had been clipped by the Trianon Treaty, and the new leader, Admiral Horthy, was the first one to introduce antisemitic laws. The young cellist went to Berlin and changed his name from the Hungarian Hermann Pál to Paul Hermann.

    In Berlin, musical life was blooming. Paul took lessons at the Staatliche Academische Hochschule für Musik. To earn a living, he became a teacher at the progressive Volksmusikschule Berlin-Neukölln and he played in all kinds of ensembles: Baroque music, the great classics – Haydn, Mozart, Beethoven – and contemporary compositions by Hindemith, Ernst Toch and, of course, Kodály and Bartók.

    The tie with Zoltán Székely was to endure all his life. Zoltán had settled in the Netherlands. Together they gave concerts which were favourably reviewed in the Netherlands, Germany and England. In London they stayed often at the house of a Dutch couple, Jacob de Graaff and Louise Bachiene. De Graaff was a wealthy businessman. He and his wife were lovers of art and music, and liked to entertain young artists. They admired the two musicians so much that in 1927 they bought a Stradivarius violin for Zoltán and, in 1928, a Gagliano cello for Paul. That cello has a leading part in this story.

    Louise de Graaff corresponded frequently with relations in the Netherlands, and when Paul Hermann was scheduled to play in Amsterdam, she urged her young niece, Ada Weevers, to go to the concert and meet the artist. This meeting was such a success that they became engaged and married in 1931. They settled in an apartment in a new Berlin quarter, Charlottenburg. I was born in 1932 and there are pictures of my father holding me on the balcony.

    But in 1933 came bad luck. On 30 January, Hitler became Reichskanzler in Germany and a threatening atmosphere for Jewish people becomes immediately acute. Jews are fired from public functions. Paul Hermann loses his job. The little family seeks refuge with Ada’s parents in the Netherlands. In the summer holiday, they stay near the seaside and, when swimming, Ada gets caught in a vortex in the waves and nearly drowns. She inhales water, it leads to pneumonia and she dies a few months later.

    Paul Hermann joins Hungarian colleagues in Brussels. Together they perform as the Gertler Quartet. They tour Belgium, France, Switzerland, Italy, Hungary. He has left me with my maternal grandparents; a younger sister of my mother takes loving care of me. Every time my father visits is delightful. The whole family adores him.

    After a few years in Brussels, Paul Hermann moves to Paris and continues his international career. On 4 August 1939, I turned seven. I remember him coming, always with his cello. Only recently, I found a letter my father wrote to a friend telling me about all the difficulties he had to get permission from the French authorities to cross the border to Holland. Foreign Jews are already under suspicion.

    But I only know it’s my birthday, a party. As a present, my father gives me the new French book, ‘Histoire de Babar, le petit éléphant‘, and he teaches me my first French words: ‘Babar entre dans l’ascenseur, il monte dix fois en haut et descend dix fois en bas mais le garçon lui dit “ce n’est pas un joujou, monsieur l’éléphant”‘.

    But again, the atmosphere is threatening. War breaks out at the end of August. Borders are closing. All foreign visitors return hastily. That winter, Western Europe is mobilised, but the fighting is in the east. We can still correspond. But in the spring, Hitler looks toward France. The French army is preparing the defence. Paul Hermann joins a régiment de marche de volontaires étrangers to assist the French army. In June, the Germans are in Paris. Northern France, Belgium and the Netherlands are occupied and under German rule. As a schoolchild, I remember the little boards everywhere: ‘Verboden voor Joden‘.

    In France, the southern region is at first not occupied. People feel relatively safe there. Hermann and his cello stay first with the de Graaff couple, who have moved from London to the region south of Bordeaux, but then he moves to a room in Toulouse. He has some pupils and can give a few recitals. Censorship makes corresponding very difficult. We get only very few letters.

    Sometimes he can visit Ada’s brother, Jan Weevers, who has an agricultural business in a village about 150 km from Toulouse. This brother-in-law supports him as much as he can. But in 1942, all France is occupied. The terror of the Gestapo reigns also in Toulouse. In Budapest, Berlin, Paris, Paul Hermann has been able to flee from antisemitism. Now this is not possible anymore. He takes false papers, names himself de Cotigny and hopes for the best.

    But on 21 April 1944, he is arrested in a street raid, taken to the Toulouse prison and transported to Drancy, the assembling camp near Paris, from where the transports for the concentration camps departed.

    In May 1944, he is put in a wagon with 60 other men as a part of transport number 73 from Drancy. While the train is waiting at the station, he manages to write a note to his brother-in-law and throws it out of the train. A kind passenger, who probably realises this could be a last message, posts it. Miraculously, it reaches Jan Weevers. It reads:

    «On nous a dit que nous allions travailler à l’Organisation Todt. Nous sommes pleins d’espoir malgré tout. Quant à mes instruments, je te prie de sauver ce que tu peux.»

    There is hardly any transportation, but Jan Weevers manages to go to Toulouse, where Paul’s rooms have been sealed by the Gestapo. Spoils of war. He forces a window and exchanges the precious Gagliano cello for a cheap student’s instrument. He takes it home. Paul’s cello is saved.

    Transport 73 is not put to work for the organisation Todt. It is sent all through Europe to Kaunas in Lithuania. We don’t know what happened, but only a handful of the 900 prisoners who arrived in Kaunas will return after the war.

    In the Netherlands, 1944-1945 is the hardest year of the war. There is no food, no heating. The infrastructure is heavily destructed. In May 1945, the Canadians entered the city where we lived. The Nazi regime capitulates, and it is immense joy.

    Only weeks later, we hear what has happened in France. Investigations by Jan Weevers have been in vain. Will Paul Hermann return? In Tony Judt’s standard book Postwar, we read about the chaos in Middle Europe: many millions of displaced persons roam in deplorable conditions through what is left of Germany. Some returned home after months or years. Many don’t. Gradually we realise Paul will never come back.

    Surrounded by a beloved extended family, I grow up, go to the university to study medicine, marry, have a family. As a doctor, I work mainly in public health. And at the end of my career, I am elected in the Netherlands Parliament for the Green Party. After retirement, I am reminded of a pile of handwritten music scores which have been laying around for more than 60 years. They are old compositions of my father. He played music with his colleagues in all kinds of combinations.

    The Dutch foundation Forbidden Music Regained, which focuses on the work of composers who were persecuted by the Nazis, is interested. They are greatly impressed by the quality of the music, and organise concerts and recordings. My son Paul, named after his grandfather, develops into the coordinator of this legacy and makes it accessible to musicians all over the world.

    When he’s visiting cousins in Los Angeles, they introduce him to the Recovered Voices project of the Los Angeles Colburn School of Music, which is also aimed at persecuted composers. Top cellist Clive Greensmith is enthusiastic about Hermann’s music, especially about a draft for a piece for cello and orchestra. Paul has a friend, an Italian composer, Fabio Conti, who makes the draft into a complete piece for cello and orchestra using themes from other Hermann compositions. Greensmith plays the premiere in 2018, in Lviv, Ukraine.

    But another staff member in Los Angeles, Carla Shapreau, says: ‘Yes, this is the music. But where is that Gagliano cello?’ In 1953, Jan Weevers took the cello to the Netherlands. It has been sold to finance my studies, but we don’t know who bought it.

    Carla enlists the help of Oxford-based biography writer Kate Kennedy, who is working on a book about the duality of cellists and their cellos. Kate also gets under the spell of the Hermann story, and she looks for the cello literally all over the world – asking cellists, luthiers, instrument dealers, music schools, browsing through auction catalogues. Who knows the whereabouts of a Gagliano cello made in 1730 with the text ‘Ego sum anima musicae’ – I am the soul of music – on the side? But Kate does not find it. The publication date of her book nears; she feels defeated.

    The book Cello is published. Cellists everywhere read it. And then Kate gets a mail from a Chinese cello professor, Jian Wang, acting as jury member for the Concours Reine Elisabeth here in Brussels in 2022. He has noticed a cello. It is in the possession of the Robert Schumann Musik Hochschule in Düsseldorf, and only their best students are permitted to play it. At a presentation of Kate’s book Cello in the Wigmore Hall in London, where my father performed 100 years ago, Australian Sam Lucas plays, on Paul Hermann’s cello, one of his compositions.

    Between 1920 and 1940, Paul Hermann played the same cello in all Western and Central Europe. Searching for this icon of European culture has connected people from all over the world: from Europe to Los Angeles to China to Australia. And its amazing story has captured interest everywhere.

    For me, this is a reunion in spirit with the father whom I have missed for 85 years.

    Hitler has burned books, destroyed paintings and buildings, murdered millions of people. But music is invincible.

    Ego sum anima musicae. Freude, schöner Götterfunken. Alle Menschen werden Brüder.

     

    MIL OSI Europe News

  • MIL-OSI: Penns Woods Bancorp, Inc. Reports Fourth Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    WILLIAMSPORT, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) — Penns Woods Bancorp, Inc. (NASDAQ: PWOD)

    Penns Woods Bancorp, Inc. achieved net income of $17.7 million for the twelve months ended December 31, 2024, resulting in basic and diluted earnings per share of $2.35.

    Highlights

    • Net income, as reported under generally accepted accounting principles (GAAP), for the three and twelve months ended December 31, 2024 was $3.7 million and $17.7 million, respectively, compared to $5.6 million and $16.6 million for the same periods of 2023. Results for the three and twelve months ended December 31, 2024 compared to 2023 were impacted by an increase in net interest income of $1.6 million and $3.9 million, respectively, as the cost of funds stabilized. The three and twelve month periods ended December 31, 2024 have been impacted by after-tax merger related expenses of $581,000 resulting from the announced acquisition of the company by Northwest Bancshares, Inc. The disposal of assets related to two former branch properties resulted in a one time after-tax loss of $261,000 for the twelve month period ended December 31, 2024.
    • The allowance for credit losses was impacted for the three and twelve months ended December 31, 2024 by a provision for credit losses of $420,000 and $121,000, respectively, compared to a negative provision for credit losses of $1.7 million and $1.5 million for the 2023 periods. The recognition of a negative provision for credit losses for the 2023 periods was due primarily to a recovery on a commercial loan which positively affected the historical loss rates, and the payoff of a nonperforming commercial loan.
    • Basic and diluted earnings per share for the three months ended December 31, 2024 were $0.50 and $0.49, respectively, while the twelve months ended December 31, 2024 basic and diluted was $2.35. This compares to basic and diluted earnings per share of $0.77 and $2.34, respectively, for the three and twelve month periods ended December 31, 2023.
    • Annualized return on average assets was 0.67% for the three months ended December 31, 2024, compared to 1.02% for the corresponding period of 2023. Return on average assets was 0.80% for the twelve months ended December 31, 2024, compared to 0.79% for the corresponding period of 2023.
    • Annualized return on average equity was 7.28% for the three months ended December 31, 2024, compared to 12.60% for the corresponding period of 2023. Return on average equity was 9.14% for the twelve months ended December 31, 2024, compared to 9.84% for the corresponding period of 2023.

    Net Income

    Net income from core operations (“core earnings”), which is a non-GAAP measure of net income excluding net securities gains or losses, was $4.4 million and $18.4 million, respectively, for the three and twelve months ended December 31, 2024 compared to $5.6 million and $16.7 million for the same periods of 2023. Core earnings per share (non-GAAP) for the three months ended December 31, 2024 were basic $0.58 and diluted $0.57 while basic and diluted for the twelve months ended December 31, 2024 were $2.44. Basic and diluted core earnings per share for the three and twelve month periods of 2023 were $0.77 and $2.36, respectively. Annualized core return on average assets and core return on average equity (non-GAAP) were 0.78% and 8.48%, respectively, for the three months ended December 31, 2024, compared to 1.02% and 12.63% for the corresponding period of 2023. Annualized core return on average assets and core return on average equity (non-GAAP) were 0.83% and 9.46%, respectively, for the twelve months ended December 31, 2024, compared to 0.79% and 9.93% for the corresponding period of 2023. A reconciliation of the non-GAAP financial measures of core earnings, core return on assets, core return on equity, core earnings per share and tangible book value per share to the comparable GAAP financial measures is included at the end of this press release.

    Net Interest Margin

    The net interest margin for the three and twelve months ended December 31, 2024 was 2.98% and 2.83% respectively, compared to 2.73% and 2.80% for the corresponding periods of 2023. The increase in the net interest margin for the three month period was driven by an increase in the rate collected on interest-earning assets of 34 basis points (“bps”), while the decrease in the net interest margin for the twelve month period was driven by a 74 bps increase in the rate paid on interest-bearing liabilities. The overall increase in interest rates over the periods resulted in increases to both the yield on the earnings asset portfolio and the rate paid on interest-bearing liabilities. Driving the increase in the yield and interest income on the earning assets portfolio was the repricing of legacy assets coupled with portfolio growth. The average loan portfolio balance increased $47.4 million and $106.9 million, respectively, for the three and twelve month periods ended December 31, 2024 compared to the same periods of 2023 as the average yield on the portfolio increased 31 bps and 61 bps, resulting in an increase in taxable equivalent interest income of $2.0 million and $16.5 million, for the periods. The three and twelve month periods ended December 31, 2024 were impacted by an increase of 57 bps and 66 bps in the yield earned on the securities portfolio as legacy securities matured with the funds reinvested at higher rates, which resulted in an increase in taxable equivalent interest income of $285,000 and $1.5 million, respectively. Short-term borrowings decreased leading to a decrease of $1.8 million and $3.9 million, respectively, in expense for the three and twelve month periods ended December 31, 2024 compared to the same periods of 2023. The rate paid on interest-bearing deposits increased 37 bps and 96 bps, respectively, or $2.1 million and $13.8 million in expense, for the three and twelve month periods ended December 31, 2024 compared to the corresponding periods of 2023 due to the rate environment, an increase in competition for deposits, and a migration of deposit balances from core deposits to higher rate time deposits. The rates paid on time deposits significantly contributed to the increase in funding costs as rates paid for the three and twelve month periods ended December 31, 2024 compared to the same periods of 2023 increased 29 bps and 87 bps, respectively, or $1.7 million and $9.9 million in expense, as deposit gathering campaigns continued to focus on time deposits with a maturity of five to twenty-four months. In addition, brokered deposits have been utilized to assist with funding the loan portfolio growth and contributed to the increase in time deposit funding costs, while lowering the reliance on higher cost short-term borrowings.

    Assets

    Total assets increased to $2.2 billion at December 31, 2024, an increase of $27.5 million compared to December 31, 2023.  Net loans increased $36.9 million to $1.9 billion at December 31, 2024 compared to December 31, 2023, as continued emphasis was placed on commercial loan growth and indirect auto lending. The investment portfolio decreased $10.7 million from December 31, 2023 to December 31, 2024.

    Non-performing Loans

    The ratio of non-performing loans to total loans ratio increased to 0.47% at December 31, 2024 from 0.17% at December 31, 2023, as non-performing loans increased to $8.9 million at December 31, 2024 from $3.1 million at December 31, 2023. The majority of non-performing loans involve loans that are either in a secured position and have sureties with a strong underlying financial position or have been classified as individually evaluated loans that have a specific allocation recorded within the allowance for credit losses. Net loan charge offs of $228,000 and $540,000 for the three and twelve months ended December 31, 2024, respectively, impacted the allowance for credit losses, which was 0.63% of total loans at December 31, 2024 compared to 0.62% at December 31, 2023. Exposure to non-owner occupied office space is minimal at $14.1 million at December 31, 2024 with none of these loans being delinquent.

    Deposits

    Deposits increased $116.6 million to $1.7 billion at December 31, 2024 compared to December 31, 2023. Noninterest-bearing deposits decreased $14.2 million to $456.9 million at December 31, 2024 compared to December 31, 2023.  Core deposits declined $17.8 million as deposits migrated from core deposit accounts into time deposits as market rates and competition for deposits increased. Core deposit gathering efforts remained focused on increasing the utilization of electronic (internet and mobile) deposit banking by our customers. Core deposits have remained stable at $1.2 billion over the past five quarters. Interest-bearing deposits increased $130.8 million from December 31, 2023 to December 31, 2024 due to growth in the time deposit portfolio of $80.8 million as customers sought a higher rate of interest. Brokered deposit balances increased $53.6 million to $178.3 million at December 31, 2024 as this funding source was utilized to supplement funding loan portfolio growth, while reducing the need to draw upon available borrowing lines. A campaign to attract time deposits with a maturity of five to twenty-four months commenced during the latter part of 2022 and has continued throughout 2023 and 2024 with current efforts centered on five months.

    Shareholders’ Equity

    Shareholders’ equity increased $13.7 million to $205.2 million at December 31, 2024 compared to December 31, 2023.  During the three and twelve months ended December 31, 2024 there were no shares issued under the previously disclosed registered at-the-market offering. A total 31,066 shares for net proceeds of $632,000 were issued as part of the Dividend Reinvestment Plan during the twelve months ended December 31, 2024. Accumulated other comprehensive loss of $5.3 million at December 31, 2024 decreased from a loss of $9.2 million at December 31, 2023 as a result of a decrease in net unrealized loss on available for sale securities to $4.6 million at December 31, 2024 from a net unrealized loss of $6.4 million at December 31, 2023, coupled with a decrease in loss of $2.0 million in the defined benefit plan obligation. The current level of shareholders’ equity equates to a book value per share of $27.16 at December 31, 2024 compared to $25.51 at December 31, 2023, and an equity to asset ratio of 9.19% at December 31, 2024 and 8.69% at December 31, 2023. Tangible book value per share (a non-GAAP measure) increased to $24.97 at December 31, 2024 compared to $23.29 at December 31, 2023. Dividends declared for the three and twelve months ended December 31, 2024 and 2023 were $0.32 and $1.28 per share.

    Penns Woods Bancorp, Inc. is the parent company of Jersey Shore State Bank, which operates sixteen branch offices providing financial services in Lycoming, Clinton, Centre, Montour, Union, and Blair Counties, and Luzerne Bank, which operates eight branch offices providing financial services in Luzerne County, and United Insurance Solutions, LLC, which offers insurance products.  Investment and insurance products are offered through Jersey Shore State Bank’s subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group.

    NOTE:  This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).  Management uses the non-GAAP measure of net income from core operations in its analysis of the company’s performance. This measure, as used by the Company, adjusts net income determined in accordance with GAAP to exclude the effects of special items, including significant gains or losses that are unusual in nature such as net securities gains and losses. Because these certain items and their impact on the Company’s performance are difficult to predict, management believes presentation of financial measures excluding the impact of such items provides useful supplemental information in evaluating the operating results of the Company’s core businesses. These disclosures should not be viewed as a substitute for net income determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

    This press release may contain certain “forward-looking statements” including statements concerning plans, objectives, future events or performance and assumptions and other statements, which are statements other than statements of historical fact.  The Company cautions readers that the following important factors, among others, may have affected and could in the future affect actual results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company herein: (i) the effect of changes in laws and regulations, including federal and state banking laws and regulations, and the associated costs of compliance with such laws and regulations either currently or in the future as applicable; (ii) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as by the Financial Accounting Standards Board, or of changes in the Company’s organization, compensation and benefit plans; (iii) the effect on the Company’s competitive position within its market area of the increasing consolidation within the banking and financial services industries, including the increased competition from larger regional and out-of-state banking organizations as well as non-bank providers of various financial services; (iv) the effect of changes in interest rates; (v) the effects of health emergencies, including the spread of infectious diseases or pandemics; (vi) the effect of changes in the business cycle and downturns in the local, regional or national economies; or (vii) any potential adverse events or developments resulting from the merger agreement, dated December 16, 2024, between Penns Woods Bancorp, Inc. and Northwest Bancshares, Inc., including, without limitation, any event, change, or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement or the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or to successfully integrate the business and operations of Jersey Shore State Bank and Luzerne Bank with those of Northwest Savings Bank after closing.  For a list of other factors which could affect the Company’s results, see the Company’s filings with the Securities and Exchange Commission, including “Item 1A.  Risk Factors,” set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

    You should not place undue reliance on any forward-looking statements.  These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise.  The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

    Previous press releases and additional information can be obtained from the Company’s website at www.pwod.com.

    Contact: Richard A. Grafmyre, Chief Executive Officer
      110 Reynolds Street
      Williamsport, PA 17702
      570-322-1111 e-mail: pwod@pwod.com
     
    PENNS WOODS BANCORP, INC.
    CONSOLIDATED BALANCE SHEET
    (UNAUDITED)
     
        December 31,
    (In Thousands, Except Share and Per Share Data)     2024       2023     % Change
    ASSETS:                
    Noninterest-bearing cash           $         19,989     $         28,969             (31.00 ) %
    Interest-bearing balances in other financial institutions                     8,983               8,493             5.77   %
    Total cash and cash equivalents                     28,972               37,462             (22.66 ) %
                     
    Investment debt securities, available for sale, at fair value                     184,542               190,945             (3.35 ) %
    Investment equity securities, at fair value                     1,111               1,122             (0.98 ) %
    Restricted investment in bank stock                     20,032               24,323             (17.64 ) %
    Loans held for sale                     3,266               3,993             (18.21 ) %
    Loans                     1,877,078               1,839,764             2.03   %
    Allowance for credit losses                     (11,848 )             (11,446 )           3.51   %
    Loans, net                     1,865,230               1,828,318             2.02   %
    Premises and equipment, net                     27,789               30,250             (8.14 ) %
    Accrued interest receivable                     11,114               11,044             0.63   %
    Bank-owned life insurance                     45,681               33,867             34.88   %
    Investment in limited partnerships                     6,691               7,815             (14.38 ) %
    Goodwill                     16,450               16,450             —   %
    Intangibles                     107               210             (49.05 ) %
    Operating lease right of use asset             2,811               2,512             11.90   %
    Deferred tax asset                     3,493               4,655             (24.96 ) %
    Other assets                     15,049               11,843             27.07   %
    TOTAL ASSETS           $         2,232,338     $         2,204,809             1.25   %
                     
    LIABILITIES:                
    Interest-bearing deposits           $         1,249,145     $         1,118,320             11.70   %
    Noninterest-bearing deposits                     456,936               471,173             (3.02 ) %
    Total deposits                     1,706,081               1,589,493             7.33   %
                    %
    Short-term borrowings                     42,200               145,926             (71.08 ) %
    Long-term borrowings                     254,588               252,598             0.79   %
    Accrued interest payable                     4,664               3,814             22.29   %
    Operating lease liability                     2,889               2,570             12.41   %
    Other liabilities                     16,685               18,852             (11.49 ) %
    TOTAL LIABILITIES                     2,027,107               2,013,253             0.69   %
                     
    SHAREHOLDERS’ EQUITY:                
    Preferred stock, no par value, 3,000,000 shares authorized; no shares issued                     —               —     n/a
    Common stock, par value $5.55, 22,500,000 shares authorized; 8,066,968 and 8,019,219 shares issued; 7,556,743 and 7,508,994 shares outstanding                     44,815               44,550             0.59   %
    Additional paid-in capital                     63,193               61,733             2.37   %
    Retained earnings                     115,331               107,238             7.55   %
    Accumulated other comprehensive loss:                
    Net unrealized loss on available for sale securities                     (4,567 )             (6,396 )           28.60   %
    Defined benefit plan                     (726 )             (2,754 )           73.64   %
    Treasury stock at cost, 510,225 shares                     (12,815 )             (12,815 )           —   %
    TOTAL SHAREHOLDERS’ EQUITY                     205,231               191,556             7.14   %
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY           $         2,232,338     $         2,204,809             1.25   %
     
    PENNS WOODS BANCORP, INC.
    CONSOLIDATED STATEMENT OF INCOME
    (UNAUDITED)
     
        Three Months Ended December 31,   Twelve Months Ended December 31,
    (In Thousands, Except Share and Per Share Data)     2024       2023     % Change
        2024       2023     % Change
    INTEREST AND DIVIDEND INCOME:                                
    Loans including fees           $         25,759     $         23,720             8.60   %   $         99,780     $         83,291             19.80   %
    Investment securities:                                
    Taxable                     1,826               1,476             23.71   %             7,039               5,346             31.67   %
    Tax-exempt                     59               107             (44.86 ) %             292               517             (43.52 ) %
    Dividend and other interest income                     607               614             (1.14 ) %             2,587               2,441             5.98   %
    TOTAL INTEREST AND DIVIDEND INCOME                     28,251               25,917             9.01   %             109,698               91,595             19.76   %
                                     
    INTEREST EXPENSE:                                
    Deposits                     9,523               7,445             27.91   %             35,962               22,131             62.50   %
    Short-term borrowings                     479               2,317             (79.33 ) %             4,503               8,401             (46.40 ) %
    Long-term borrowings                     2,686               2,207             21.70   %             10,353               6,099             69.75   %
    TOTAL INTEREST EXPENSE                     12,688               11,969             6.01   %             50,818               36,631             38.73   %
                                     
    NET INTEREST INCOME                     15,563               13,948             11.58   %             58,880               54,964             7.12   %
                                     
    PROVISION (RECOVERY) FOR CREDIT LOSSES                      420               (1,742 )           124.11   %             121               (1,479 )           108.18   %
                                     
    NET INTEREST INCOME AFTER PROVISION (RECOVERY) OF CREDIT LOSSES                     15,143               15,690             (3.49 ) %             58,759               56,443             4.10   %
                                     
    NON-INTEREST INCOME:                                
    Service charges                     516               533             (3.19 ) %             2,067               2,090             (1.10 ) %
    Net debt securities losses, available for sale                     (9 )             (68 )           86.76   %             (49 )             (193 )           74.61   %
    Net equity securities (losses) gains                     (35 )             50             (170.00 ) %             (11 )             15             (173.33 ) %
    Bank-owned life insurance                     303               171             77.19   %             1,159               1,063             9.03   %
    Gain on sale of loans                     463               314             47.45   % .           1,484               1,046             41.87   %
    Insurance commissions                     128               113             13.27   %             553               529             4.54   %
    Brokerage commissions                     163               127             28.35   %             684               575             18.96   %
    Loan broker income                     543               264             105.68   %             1,384               992             39.52   %
    Debit card income                     385               333             15.62   %             1,437               1,328             8.21   %
    Other                     253               384             (34.11 ) %             910               930             (2.15 ) %
    TOTAL NON-INTEREST INCOME                     2,710               2,221             22.02   %             9,618               8,375             14.84   %
                                     
    NON-INTEREST EXPENSE:                                
    Salaries and employee benefits                     7,032               6,284             11.90   %             26,256               25,062             4.76   %
    Occupancy                     758               746             1.61   %             3,152               3,168             (0.51 ) %
    Furniture and equipment                     1,233               889             38.70   %             3,669               3,392             8.17   %
    Software amortization                     339               250             35.60   %             996               843             18.15   %
    Pennsylvania shares tax                     351               275             27.64   %             1,373               1,082             26.89   %
    Professional fees                     523               640             (18.28 ) %             2,177               2,953             (26.28 ) %
    Federal Deposit Insurance Corporation deposit insurance                     385               456             (15.57 ) %             1,564               1,578             (0.89 ) %
    Marketing                     74               90             (17.78 ) %             283               684             (58.63 ) %
    Intangible amortization                     25               25             —   %             102               117             (12.82 ) %
    Merger expense                     735               —     n/a             735               —     n/a
    Other                     1,525               1,342             13.64   %             6,177               5,617             9.97   %
    TOTAL NON-INTEREST EXPENSE                     12,980               10,997             18.03   %             46,484               44,496             4.47   %
    INCOME BEFORE INCOME TAX PROVISION                     4,873               6,914             (29.52 ) %             21,893               20,322             7.73   %
    INCOME TAX PROVISION                     1,132               1,359             (16.70 ) %             4,154               3,714             11.85   %
    NET INCOME AVAILABLE TO COMMON SHAREHOLDERS’   $         3,741     $         5,555             (32.66 ) %   $         17,739     $         16,608             6.81   %
    EARNINGS PER SHARE – BASIC            $         0.50     $         0.77             (35.06 ) %   $         2.35     $         2.34             0.43   %
    EARNINGS PER SHARE – DILUTED           $         0.49     $         0.77             (36.36 ) %   $         2.35     $         2.34             0.43   %
    WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC                     7,555,168               7,255,222             4.13   %             7,535,397               7,112,450             5.95   %
    WEIGHTED AVERAGE SHARES OUTSTANDING – DILUTED                     7,693,185               7,255,222             6.04   %             7,543,111               7,112,450             6.06   %
     
    PENNS WOODS BANCORP, INC.
    AVERAGE BALANCES AND INTEREST RATES 
    (UNAUDITED)
     
        Three Months Ended
        December 31, 2024   December 31, 2023
    (Dollars in Thousands)   Average 
    Balance (1)
      Interest   Average 
    Rate
      Average 
    Balance (1)
      Interest   Average 
    Rate
    ASSETS:                        
    Tax-exempt loans (3)           $         69,967     $         453             2.58   %   $         68,234     $         478             2.78   %
    All other loans                     1,806,212               25,401             5.59   %             1,760,509               23,342             5.26   %
    Total loans (2)                     1,876,179               25,854             5.48   %             1,828,743               23,820             5.17   %
                             
    Taxable securities                     199,868               2,277             4.63   %             193,744               1,932             4.04   %
    Tax-exempt securities (3)                     11,317               75             2.70   %             18,041               135             3.03   %
    Total securities                     211,185               2,352             4.53   %             211,785               2,067             3.96   %
                             
    Interest-bearing balances in other financial institutions                     13,136               156             4.72   %             11,795               158             5.31   %
                             
    Total interest-earning assets                     2,100,500               28,362             5.38   %             2,052,323               26,045             5.04   %
                             
    Other assets                     137,840                       130,421          
                             
    TOTAL ASSETS           $         2,238,340             $         2,182,744          
                             
    LIABILITIES AND SHAREHOLDERS’ EQUITY:                        
    Savings           $         209,300               266             0.51   %   $         222,740               229             0.41   %
    Super Now deposits                     220,792               1,070             1.93   %             227,113               1,129             1.97   %
    Money market deposits                     323,181               2,656             3.27   %             293,542               2,217             3.00   %
    Time deposits                     504,683               5,531             4.36   %             377,516               3,870             4.07   %
    Total interest-bearing deposits                     1,257,956               9,523             3.01   %             1,120,911               7,445             2.64   %
                             
    Short-term borrowings                     38,495               479             4.96   %             163,088               2,317             5.63   %
    Long-term borrowings                     256,521               2,686             4.17   %             235,998               2,207             3.71   %
    Total borrowings                     295,016               3,165             4.27   %             399,086               4,524             4.50   %
                             
    Total interest-bearing liabilities                     1,552,972               12,688             3.25   %             1,519,997               11,969             3.12   %
                             
    Demand deposits                     454,612                       457,546          
    Other liabilities                     25,218                       28,786          
    Shareholders’ equity                     205,538                       176,415          
                             
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY           $         2,238,340             $         2,182,744          
    Interest rate spread (3)                           2.13   %                   1.92   %
    Net interest income/margin (3)               $         15,674             2.98   %       $         14,076             2.73   %
    1. Information on this table has been calculated using average daily balance sheets to obtain average balances.
    2. Non-accrual loans have been included with loans for the purpose of analyzing net interest earnings.
    3. Income and rates on fully taxable equivalent basis include an adjustment for the difference between annual income from tax-exempt obligations and the taxable equivalent of such income at the standard tax rate of 21%.
       
        Three Months Ended December 31,
          2024       2023  
    Total interest income           $         28,251     $         25,917  
    Total interest expense                     12,688               11,969  
    Net interest income (GAAP)                     15,563               13,948  
    Tax equivalent adjustment                     111               128  
    Net interest income (fully taxable equivalent) (non-GAAP)           $         15,674     $         14,076  
     
    PENNS WOODS BANCORP, INC.
    AVERAGE BALANCES AND INTEREST RATES 
    (UNAUDITED)
     
        Twelve Months Ended
        December 31, 2024   December 31, 2023
    (Dollars in Thousands)   Average 
    Balance (1)
      Interest   Average 
    Rate
      Average 
    Balance (1)
      Interest   Average 
    Rate
    ASSETS:                        
    Tax-exempt loans (3)           $         69,448     $         1,943             2.80   %   $         66,863     $         1,849             2.77   %
    All other loans                     1,796,096               98,245             5.47   %             1,691,742               81,830             4.84   %
    Total loans (2)                     1,865,544               100,188             5.37   %             1,758,605               83,679             4.76   %
                             
    Taxable securities                     202,934               9,072             4.47   %             189,804               7,263             3.83   %
    Tax-exempt securities (3)                     13,045               370             2.84   %             23,872               654             2.74   %
    Total securities                     215,979               9,442             4.37   %             213,676               7,917             3.71   %
                             
    Interest-bearing balances in other financial institutions                     11,074               554             5.00   %             10,916               524             4.80   %
                             
    Total interest-earning assets                     2,092,597               110,184             5.27   %             1,983,197               92,120             4.65   %
                             
    Other assets                     132,720                       131,704          
                             
    TOTAL ASSETS           $         2,225,317             $         2,114,901          
                             
    LIABILITIES AND SHAREHOLDERS’ EQUITY:                        
    Savings           $         215,107               1,077             0.50   %   $         231,000               685             0.30   %
    Super Now deposits                     218,932               4,373             2.00   %             276,868               4,155             1.50   %
    Money market deposits                     311,836               10,390             3.33   %             292,755               7,024             2.40   %
    Time deposits                     460,869               20,122             4.37   %             293,252               10,267             3.50   %
    Total interest-bearing deposits                     1,206,744               35,962             2.98   %             1,093,875               22,131             2.02   %
                             
    Short-term borrowings                     82,046               4,503             5.49   %             157,140               8,401             5.36   %
    Long-term borrowings                     256,850               10,353             4.03   %             186,094               6,099             3.28   %
    Total borrowings                     338,896               14,856             4.40   %             343,234               14,500             4.23   %
                             
    Total interest-bearing liabilities                     1,545,640               50,818             3.29   %             1,437,109               36,631             2.55   %
                             
    Demand deposits                     454,878                       477,828          
    Other liabilities                     30,680                       31,243          
    Shareholders’ equity                     194,119                       168,721          
                             
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY           $         2,225,317             $         2,114,901          
    Interest rate spread (3)                           1.98   %                   2.10   %
    Net interest income/margin (3)               $         59,366             2.83   %       $         55,489             2.80   %
    1. Information on this table has been calculated using average daily balance sheets to obtain average balances.
    2. Non-accrual loans have been included with loans for the purpose of analyzing net interest earnings.
    3. Income and rates on fully taxable equivalent basis include an adjustment for the difference between annual income from tax-exempt obligations and the taxable equivalent of such income at the standard tax rate of 21%.
       
        Twelve months ended December 31,
          2024       2023  
    Total interest income           $         109,698     $         91,595  
    Total interest expense                     50,818               36,631  
    Net interest income (GAAP)                     58,880               54,964  
    Tax equivalent adjustment                     486               525  
    Net interest income (fully taxable equivalent) (non-GAAP)           $         59,366     $         55,489  
    (Dollars in Thousands, Except Per Share Data, Unaudited)   Quarter Ended
        12/31/2024   9/30/2024   6/30/2024   3/31/2024   12/31/2023
    Operating Data                    
    Net income           $         3,741       $         4,801       $         5,390       $         3,808       $         5,555    
    Net interest income                     15,563                 15,056                 14,515                 13,746                 13,948    
    Provision (recovery) for credit losses                     420                 740                 (1,177 )               138                 (1,742 )  
    Net security (losses) gains                     (44 )               36                 (19 )               (33 )               (18 )  
    Non-interest income, excluding net security (losses) gains                     2,754                 2,385                 2,044                 2,495                 2,239    
    Non-interest expense                     12,980                 10,884                 10,996                 11,623                 10,997    
                         
    Performance Statistics                    
    Net interest margin                     2.98   %             2.88   %             2.83   %             2.69   %             2.73   %
    Annualized cost of total deposits                     2.22   %             2.27   %             2.14   %             2.01   %             1.89   %
    Annualized non-interest income to average assets                     0.48   %             0.43   %             0.37   %             0.45   %             0.41   %
    Annualized non-interest expense to average assets                     2.32   %             1.95   %             1.98   %             2.10   %             2.02   %
    Annualized return on average assets                     0.67   %             0.86   %             0.97   %             0.69   %             1.02   %
    Annualized return on average equity                     7.28   %             9.60   %             11.12   %             8.03   %             12.60   %
    Annualized net loan charge-offs (recoveries) to average loans     0.05   %     0.07   %     (0.09 ) %     0.08   %     (0.05 ) %
    Net charge-offs (recoveries)                      228                 328                 (396 )               380                 (209 )  
    Efficiency ratio                     70.73   %             62.26   %             66.25   %             71.41   %             67.78   %
                         
    Per Share Data                    
    Basic earnings per share           $         0.50       $         0.64       $         0.72       $         0.51       $         0.77    
    Diluted earnings per share                     0.49                 0.64                 0.72                 0.51                 0.77    
    Dividend declared per share                     0.32                 0.32                 0.32                 0.32                 0.32    
    Book value                     27.16                 26.96                 26.13                 25.72                 25.51    
    Tangible book value (Non-GAAP)                     24.97                 24.77                 23.93                 23.50                 23.29    
    Common stock price:                    
    High                     34.06                 23.98                 21.08                 22.64                 23.64    
    Low                     23.74                 19.29                 17.17                 18.44                 20.05    
    Close                     30.39                 23.79                 20.55                 19.41                 22.51    
    Weighted average common shares:                    
    Basic                     7,555                 7,544                 7,529                 7,513                 7,255    
    Fully Diluted                     7,693                 7,544                 7,529                 7,513                 7,255    
    End-of-period common shares:                    
    Issued                     8,067                 8,065                 8,052                 8,036                 8,019    
    Treasury                     (510 )               (510 )               (510 )               (510 )               (510 )  
    (Dollars in Thousands, Unaudited)   Quarter Ended
        12/31/2024   9/30/2024   6/30/2024   3/31/2024   12/31/2023
    Financial Condition Data:                    
    General                    
    Total assets           $         2,232,338       $         2,259,250       $         2,234,617       $         2,210,116       $         2,204,809    
    Loans, net                     1,865,230                 1,863,586                 1,855,054                 1,843,805                 1,828,318    
    Goodwill                     16,450                 16,450                 16,450                 16,450                 16,450    
    Intangibles                     107                 133                 158                 184                 210    
    Total deposits                     1,706,081                 1,700,321                 1,648,093                 1,618,562                 1,589,493    
    Noninterest-bearing                     456,936                 452,922                 461,092                 471,451                 471,173    
    Savings                     208,340                 211,560                 218,354                 220,932                 219,287    
    NOW                     212,687                 218,279                 209,906                 208,073                 214,888    
    Money Market                     308,977                 321,614                 320,101                 299,916                 299,353    
    Time Deposits                     340,844                 328,294                 310,187                 292,372                 260,067    
    Brokered Deposits                     178,297                 167,652                 128,453                 125,818                 124,725    
    Total interest-bearing deposits                     1,249,145                 1,247,399                 1,187,001                 1,147,111                 1,118,320    
                         
    Core deposits*                     1,186,940                 1,204,375                 1,209,453                 1,200,372                 1,204,701    
    Shareholders’ equity                     205,231                 203,694                 197,087                 193,517                 191,556    
                         
    Asset Quality                    
    Non-performing loans           $         8,904       $         7,940       $         6,784       $         7,958       $         3,148    
    Non-performing loans to total assets                     0.40   %             0.35   %             0.30   %             0.36   %             0.14   %
    Allowance for credit losses on loans                     11,848                 11,588                 11,234                 11,542                 11,446    
    Allowance for credit losses on loans to total loans                     0.63   %             0.62   %             0.60   %             0.62   %             0.62   %
    Allowance for credit losses on loans to non-performing loans                     133.06   %             145.94   %             165.60   %             145.04   %             363.60   %
    Non-performing loans to total loans                     0.47   %             0.42   %             0.36   %             0.43   %             0.17   %
                         
    Capitalization                    
    Shareholders’ equity to total assets                     9.19   %             9.02   %             8.82   %             8.76   %             8.69   %
                                                       
    * Core deposits are defined as total deposits less time deposits and brokered deposits.
     
    Reconciliation of GAAP and Non-GAAP Financial Measures
    (UNAUDITED)
     
        Three Months Ended December 31,   Twelve Months Ended December 31,
    (Dollars in Thousands, Except Per Share Data, Unaudited)    2024    2023    2024    2023
    GAAP net income           $         3,741       $         5,555       $         17,739       $         16,608    
    Net securities losses, net of tax                     35                 14                 47                 141    
    Merger expenses, net of tax                     581                 —                 581                 —    
    Non-GAAP core earnings           $         4,357       $         5,569       $         18,367       $         16,749    
                     
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Return on average assets (ROA)                     0.67   %             1.02   %             0.80   %             0.79   %
    Net securities losses, net of tax                     0.01   %             —   %             —   %             —   %
    Merger expenses, net of tax                     0.10   %             —   %             0.03   %             —   %
    Non-GAAP core ROA                     0.78   %             1.02   %             0.83   %             0.79   %
                     
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Return on average equity (ROE)                     7.28   %             12.60   %             9.14   %             9.84   %
    Net securities losses, net of tax                     0.07   %             0.03   %             0.02   %             0.09   %
    Merger expenses, net of tax                     1.13   %             —   %             0.30   %             —   %
    Non-GAAP core ROE                     8.48   %             12.63   %             9.46   %             9.93   %
                     
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Basic earnings per share (EPS)           $         0.50       $         0.77       $         2.35       $         2.34    
    Net securities losses, net of tax                     —                 —                 0.01                 0.02    
    Merger expenses, net of tax                     0.08                 —                 0.08                 —    
    Non-GAAP basic core EPS           $         0.58       $         0.77       $         2.44       $         2.36    
             
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Diluted EPS           $         0.49       $         0.77       $         2.35       $         2.34    
    Net securities losses, net of tax                     —                 —                 0.01                 0.02    
    Merger expenses, net of tax                     0.08                 —                 0.08                 —    
    Non-GAAP diluted core EPS           $         0.57       $         0.77       $         2.44       $         2.36    
    (Dollars in Thousands, Except Share and Per Share Data, Unaudited)   Quarter Ended
        12/31/2024   9/30/2024   6/30/2024   3/31/2024   12/31/2023
    Total shareholders’ equity           $         205,231     $         203,694     $         197,087     $         193,517     $         191,556  
    Goodwill                     (16,450 )             (16,450 )             (16,450 )             (16,450 )             (16,450 )
    Intangibles                     (107 )             (133 )             (158 )             (184 )             (210 )
    Tangible shareholders’ equity           $         188,674     $         187,111     $         180,479     $         176,883     $         174,896  
                         
    Shares outstanding                     7,556,743               7,554,488               7,541,474               7,525,372               7,508,994  
                         
    Book value per share           $         27.16     $         26.96     $         26.13     $         25.72     $         25.51  
    Tangible book value per share (Non-GAAP)           $         24.97     $         24.77     $         23.93     $         23.50     $         23.29  
                                             

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