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  • MIL-OSI USA News: Notice to the Speaker of the House and President of the Senate on the Continuation of the National Emergency With Respect to  Iran

    Source: The White House

         On November 14, 1979, by Executive Order 12170, the President declared a national emergency with respect to Iran pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) and took related steps to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States constituted by the situation in Iran.

         Our relations with Iran have not yet normalized, and the process of implementing the agreements with Iran, dated January 19, 1981, is ongoing.  For this reason, the national emergency declared on November 14, 1979, and the measures adopted on that date to deal with that emergency, must continue in effect beyond November 14, 2024.  Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency with respect to Iran declared in Executive Order 12170.

         The emergency declared by Executive Order 12170 is distinct from the emergency declared in Executive Order 12957 on March 15, 1995.  This renewal, therefore, is distinct from the emergency renewal of March 12, 2024.

         This notice shall be published in the Federal Register and transmitted to the Congress.

                                   JOSEPH R. BIDEN JR.

    THE WHITE HOUSE,

        November 1, 2024.

    MIL OSI USA News –

  • MIL-OSI USA News: Letter to the Speaker of the House and President of the Senate on the Continuation of the National Emergency With Respect to  Iran

    Source: The White House

    Dear Mr. Speaker:   (Dear Madam President:)

    Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, within 90 days prior to the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date.  In accordance with this provision, I have sent to the Federal Register for publication the enclosed notice stating that the national emergency with respect to Iran that was declared in Executive Order 12170 of November 14, 1979, is to continue in effect beyond November 14, 2024.

    Our relations with Iran have not yet normalized, and the process of implementing the agreements with Iran, dated January 19, 1981, is ongoing.  Therefore, I have determined that it is necessary to continue the national emergency declared in Executive Order 12170 with respect to Iran.

                                   Sincerely,

                                   JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI Canada: Canada concludes the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula

    Source: Government of Canada News

    The Honourable Mélanie Joly, Minister of Foreign Affairs, yesterday concluded the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula, which she co-hosted in Montréal with Ukrainian Minister of Foreign Affairs Andrii Sybiha and Norwegian Minister of Foreign Affairs Espen Barth Eide.

    November 1, 2024 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Mélanie Joly, Minister of Foreign Affairs, yesterday concluded the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula, which she co-hosted in Montréal with Ukrainian Minister of Foreign Affairs Andrii Sybiha and Norwegian Minister of Foreign Affairs Espen Barth Eide.

    At the conference, the ministers announced the Montréal Pledge —concrete steps to help return prisoners of war, unlawfully detained civilians and deported children, including support as these people reintegrate into their daily lives. 

    Minister Joly hosted foreign ministers and high-level representatives from more than 70 countries and international organizations to advance Ukraine’s 10-Point peace formula, identify diplomatic approaches to address the human dimension of the war and strengthen the International Coalition for the Return of Ukrainian Children. The minister chaired a session on identifying strategies to increase the exchange of information on the locations, health statuses and legal statuses of prisoners of war, unlawfully detained civilians and deported children.

    The harrowing survivor testimonies — from a detained Ukrainian military medic, the wife of an imprisoned journalist and a former prisoner of war — shared during the conference served as powerful reminders of the human cost of Russia’s war against Ukraine.

    As co-chair of Working Group 4 and leader of the International Coalition for the Return of Ukrainian Children, Minister Joly thanked Qatar, South Africa and the Holy Sea for their offer to serve as intermediaries to support and negotiate the return of children. She also thanked the United Arab Emirates for the role they are continuing to play on mediating the exchanges of prisoners of war. Finally, she expressed her appreciation to Norway, Lithuania and Qatar, who have offered to provide a supportive environment for returning Ukrainians returning home.

    During the conference, Prime Minister Justin Trudeau welcomed the diverse group of states that came together to find diplomatic solutions and concrete actions to protect Ukrainian people.

    MIL OSI Canada News –

  • MIL-OSI USA: American-Made Program Shines Light on Innovation at RE+

    Source: US National Renewable Energy Laboratory

    NREL Has a Major Presence at One of the Renewable Energy Industry’s Key Conferences

     

    Photo from Corcino Productions

    For 20 years, the RE+ conference has served as a gathering place for clean energy professionals who come together to engage and connect on ways to propel the industry forward. For the last five of those years, the U.S. Department of Energy’s (DOE’s) American-Made program has partnered with RE+ to become a key player at the conference, helping American-Made innovators bring their technologies closer to commercialization and showcasing easy-access opportunities for clean energy development funding.

    The American-Made program, administered by the National Renewable Energy Laboratory’s (NREL’s) Joint Institute for Strategic Energy Analysis, incentivizes clean energy innovation through prize competitions, training, teaming, and mentoring. The program boasts a suite of more than 90 prizes seeking to advance technological development and capacity building across the country, many of which were represented at this year’s RE+ in Anaheim, California.

    A Live Grand Finale

    American-Made’s partnership with RE+ began in 2019 as a venue for Go! Demo Day, the culmination of the American-Made Solar Prize. The Solar Prize is a multimillion-dollar prize competition funded by DOE’s Solar Energy Technologies Office that energizes U.S. solar innovation through a series of contests that accelerate the entrepreneurial process from years to months. Now, the Solar Prize event has become a mainstay at RE+, which hosted more than 40,000 attendees and 1,300 exhibitors this year.

    During this year’s Solar Prize Round 7 Go! Demo Day, competition finalists presented their pitches for innovative technologies that can advance solar adoption to conference attendees and a panel of industry experts. Fram Energy was selected as a grand prize winner for their solar adoption software solution, while Gritt Robotics won for their artificial intelligence solar installation robotics innovation. Two additional teams were awarded the Justice, Equity, Diversity, and Inclusion Prize for their innovations that address solar power accessibility and education.

    “The Solar Prize was the prize that launched the American-Made program, and over seven rounds, it has generated revolutionary concepts that are kickstarting the solar industry,” American-Made Program Manager Debbie Brodt-Giles said. “Having the finale at RE+ each year really magnifies the reach of the prize and these competitors’ innovations. It’s the ideal place to share how American-Made is empowering everyday citizens to contribute to the clean energy transition.”

    All 10 Solar Prize Round 7 finalists were allotted a booth at RE+ to showcase their technologies to conference attendees. Here, the EmpowerSun Solutions team—winner of the Justice, Equity, Diversity and Inclusion Prize—share their concept with Becca Jones-Albertus, director of DOE’s Solar Energy Technologies Office; Alejandro Moreno and Jeff Marootian, from DOE’s Office of Energy Efficiency and Renewable Energy; and David Crane, DOE’s Undersecretary for Infrastructure. Photo from Corcino Productions

    Expanding Presence and Purpose

    American-Made’s involvement at RE+ has grown beyond celebrating the Solar Prize to include other competition, network, and informational events to support past, current, and future prize competitors.

    Perovskite Startup Prize winner Verde Technologies made use of their time at RE+ to share their lightweight, high-performance, and low-cost solar panels. Photo from Corcino Productions

    “What’s helpful about being at a conference like RE+ is that it allows us to step out of the core technology that we’re developing and realize how it fits into the broader renewable energy transition and solar market,” said Skylar Bagdon, CEO of Verde Technologies, a past winner of the American-Made Perovskite Startup Prize. “Being here and seeing what the market really cares about helps us get out of the lab and get our technology out into the market where it will have an impact.”

    The Fall 2024 EPIC Pitch Competition featured six cleantech startups vying for cash prizes for their innovative clean energy-related pitches, with three startups and one incubator winning more than $100,000 total in cash prizes from DOE’s Office of Technology Transitions, which funds the EPIC Pitch Competition.

    DOE also announced several new prizes during the conference, including the Large Animal and Solar System Operations (LASSO) Prize, the Promoting Registration of Inverters and Modules with Ecolabel (PRIME) Prize, and the Community Power Accelerator Prize Round 3.

    Labwide Impact at a Nationwide Event

    In addition to those associated with the management of the American-Made program, NREL had robust representation at this year’s conference, with researchers from nine centers specializing in clean energy systems, technologies, deployment, and analysis. Researchers hosted tech talks at the conference, sharing NREL expertise in the areas of solar grid integration, equitable transition strategies, market analysis, and more.

    NREL’s participation at the largest clean energy industry conference in North America allows the laboratory to share cutting-edge research and identify trends in the renewable energy industry, helping inform research needs and opportunities for partnerships.

    “NREL’s leadership in the solar space continues to be well represented at RE+ with dozens of staff representing prizes and new innovative research that is integral to the industry’s success and rapid growth,” Solar Laboratory Program Manager Mary Werner said. “NREL staff coordinate prizes, present their research results, attend educational sessions, explore the extensive exhibit halls, host project booths, and help guide the development of educational sessions at RE+ to increase our impact on the market and identify new partners for future research projects.”

    Learn more about the American-Made program, and subscribe to the American-Made Newsletter for updates on all future prize opportunities.

    MIL OSI USA News –

  • MIL-OSI USA: Gov. and First Lady Justice invite West Virginians to submit photos for 2024 Military and First Responder recognition trees

    Source: US State of West Virginia

    CHARLESTON, WV — Gov. Jim Justice and First Lady Cathy Justice invite all West Virginians to honor members of the United States Military and First Responders by submitting photos to be showcased on two recognition trees that will be displayed during this year’s holiday season.

    This year’s recognition trees will be located in the west rotunda of the main Capitol building, along with a third tree decorated by Gold Star mothers and families to honor their loved ones whose lives were sacrificed while serving our country.

    “Cathy and I really treasure this holiday tradition,” Gov. Justice said. “Our United States Military and first responders are true heroes, and it means a lot to honor them in the West Virginia State Capitol. The photos on the recognition trees remind us all of the sacrifices made by these amazing folks. Each picture sent in by West Virginians tells a story of courage and commitment, and I can’t wait to see this year’s tribute.”

    “I have always loved this tradition,” First Lady Cathy Justice said. “Our military and first responders are such an important piece of our everyday lives, and bring a sense of community to our West Virginia families. I thank you all for all that you do, and I can’t wait to see this year’s additions to our trees.”

    All photos, along with the submission form and tag, must be received no later than Monday, November 25, 2024.

    MIL OSI USA News –

  • MIL-OSI Security: Former Miami-Dade Corrections Officer Pled Guilty to $150,000 COVID-19 Fraud

    Source: United States Department of Justice (National Center for Disaster Fraud)

    MIAMI – Yesterday, Daniel Fleureme, 56, of Miami-Dade County, a former Miami-Dade Corrections and Rehabilitation Department (MDCRD) Corrections Officer, pled guilty to wire fraud for defrauding a COVID-19 relief program by fraudulently obtaining an Economic Injury Disaster Loan from the U. S. Small Business Administration (SBA).

    The Coronavirus Aid, Relief and Economic Security (CARES) Act was designed to provide emergency financial assistance to the millions of Americans who were suffering the economic effects caused by the COVID-19 pandemic. One source of relief provided by the CARES Act were Economic Injury Disaster Loans (EIDLs) to eligible small businesses experiencing substantial financial disruptions. These EIDLs were provided directly to borrowers by the SBA.

    On July 27, 2020, Fleureme, while he was employed full-time by MDCRD as a Corrections Officer, submitted to the SBA a false and fraudulent EIDL application claiming to be the 100% owner of a sole proprietorship operating under the company legal and DBA names of “Daniel Fleureme.” In this fraudulent application, Fleureme claimed that he had owned the business since its creation on Feb. 15, 2017, and stated that the business had three employees as of Jan. 31, 2020. Fleureme’s EIDL application also falsely certified that for the 12-month period prior to Jan. 31, 2020, his sole proprietorship had gross revenues of $450,000 and a cost of goods sold of only $97,000. As a result of this fraudulent EIDL application, Fleureme received approximately $150,000 in EIDL proceeds from the SBA.

    He is scheduled to be sentenced on Jan. 7, 2025, at 11:00 a.m., before U.S. District Judge Jose E. Martinez in Miami. Fleureme faces up to 20 years in prison for the wire fraud conviction. The court will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    U.S. Attorney for the Southern District of Florida Markenzy Lapointe and Special Agent in Charge Jeffrey B. Veltri of the FBI, Miami Field Office, Inspector General Felix Jimenez of the Miami-Dade County Office of Inspector General (M-DC OIG), and Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region, made the announcement.

    The FBI’s Miami Area Corruption Task Force, which includes task force officers from the M-DC OIG, working in conjunction with SBA OIG, investigated the case.  Assistant U.S. Attorney Edward N. Stamm is prosecuting the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On Sept. 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud.  The Strike Force combines law enforcement and prosecutorial resources and focuses on large-scale, multistate pandemic relief fraud perpetrated by criminal organizations and transnational actors, as well as those who committed multiple instances of pandemic relief fraud. The Strike Force uses prosecutor-led and data analyst-driven teams to identify and bring to justice those who stole pandemic relief funds. Additional information regarding the Strike Force may be found at https://www.justice.gov/opa/pr/justice-department-announces-covid-19-fraud-strike-force-teams.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-20407.

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    MIL Security OSI –

  • MIL-OSI Security: Federal Jury Convicts Sumter Man of Gun Trafficking

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

    COLUMBIA, S.C. —A federal jury in Columbia has convicted Kelsey Antonio McCallum, 27, of Sumter, of illegally trafficking firearms.

    Evidence presented at trial revealed that McCallum and his sister, Daeja Hodge, conspired to purchase firearms and resale those firearms for profit. At least 13 times from 2020-2022, McCallum made false statements to acquire firearms at dealers in Columbia, Sumter, and the Upstate. McCallum also purchased firearms from Georgia. During each purchase, McCallum falsely stated that the firearms were intended for his personal use, knowing that he intended to sell them. McCallum would then illegally transport the firearms to Maryland and sell them there. McCallum and Hodge acquired over 100 firearms during this scheme. Most of those firearms ended up in the hands of felons prohibited from possessing firearms or at crime scenes in the Baltimore area. A few firearms were also sold in North Carolina. At trial, the Government introduced more than 30 firearms and ammunition found by law enforcement in the Baltimore area.  

    Hodge pleaded guilty to her role in the offense prior to McCallum’s trial.

    McCallum faces a maximum penalty of 10 years in federal prison. He also faces a fine of up to $250,000, restitution, and three years of supervision to follow the term of imprisonment. United States District Judge Mary Geiger Lewis will sentence McCallum after receiving and reviewing a sentencing report prepared by the U.S. Probation Office.

    This case was made possible by investigative leads generated from the ATF’s National Integrated Ballistic Information Network (NIBIN). NIBIN is the only national network that allows for the capture and comparison of ballistic evidence to aid in solving and preventing violent crimes involving firearms. NIBIN is a proven investigative and intelligence tool that can link firearms from multiple crime scenes, allowing law enforcement to quickly disrupt shooting cycles. For more information on NIBIN, visit https://www.atf.gov/firearms/national-integrated-ballistic-information-network-nibin

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

    The Bureau of Alcohol, Tobacco, Firearms and Explosives in South Carolina and Maryland, investigated the case along with assistance from numerous local agencies in South Carolina, Georgia, Maryland, and North Carolina. Assistant U.S. Attorneys Christopher D. Taylor and William K. Witherspoon are prosecuting the case.

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    MIL Security OSI –

  • MIL-OSI: First National Corporation Reports Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    STRASBURG, Va., Nov. 01, 2024 (GLOBE NEWSWIRE) — First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), reported unaudited consolidated net income of $2.2 million and basic and diluted earnings per common share of $0.36 for the third quarter of 2024 and adjusted net income(1) of $2.4 million and adjusted basic and diluted earnings per common share(1) of $0.39.

    (Dollars in thousands, except earnings per share)   Three Months Ended  
        Sept 30, 2024     Jun 30, 2024     Sept 30, 2023  
    Net income   $ 2,248     $ 2,442     $ 3,121  
    Basic and diluted earnings per share   $ 0.36     $ 0.39     $ 0.50  
    Return on average assets     0.62 %     0.68 %     0.91 %
    Return on average equity     7.28 %     8.31 %     10.96 %
                             
    Non-GAAP Measures:                        
    Adjusted net income(1)   $ 2,448     $ 3,008     $ 3,121  
    Adjusted basic and diluted earnings per share(1)   $ 0.39     $ 0.48     $ 0.50  
    Adjusted return on average assets(1)     0.67 %     0.84 %     0.91 %
    Adjusted return on average equity(1)     7.93 %     10.23 %     10.96 %
    Adjusted pre-provision, pre-tax earnings(1)   $ 4,712     $ 4,092     $ 3,952  
    Adjusted pre-provision, pre-tax return on average assets(1)     1.29 %     1.14 %     1.16 %
    Net interest margin(1)     3.43 %     3.40 %     3.35 %
    Efficiency ratio(1)     67.95 %     70.65 %     70.67 %

    *See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliations” for additional information and detailed calculations of adjustments.

    “During the third quarter the company saw continued improvement in net interest margin thanks to proactive deposit pricing boosted by sticky noninterest-bearing deposits continuing to represent 31% of total deposits,” said Scott C. Harvard, President and CEO. “We also benefited from a 16% increase in ATM and check card fees and an 8% increase in wealth management fees in the quarter. During the quarter loans acquired from third party lenders continued to be a drag on what otherwise was excellent financial performance, with an adjusted pre-provision, pre-tax return on average assets of 1.29% for the period. We continue to be excited about the recent acquisition of Touchstone Bankshares, Inc., which closed on October 1, and look forward to integrating our two companies and building value for our shareholders.”

    THIRD QUARTER HIGHLIGHTS

    Key highlights of the three months ending September 30, 2024, are as follows. Comparisons are to the three-month period ending June 30, 2024, unless otherwise stated:

      ● Net interest margin(1) continued to improve to 3.43%
      ● Loan balances increased by 2%, annualized
      ● Noninterest-bearing deposits were stable at 31% of total deposits
      ● Noninterest income increased by 19%
      ● Adjusted ROA and ROE(1) of 0.67% and 7.93% respectively
      ● Tangible book value per share(1) increased to $19.37 from $17.38 one year ago


    MERGER WITH TOUCHSTONE BANKSHARES, INC.

    The Company completed the acquisition of Touchstone Bankshares, Inc. (“Touchstone”) with and into the Company, effective October 1, 2024 (the “Merger”). Immediately following the Merger, Touchstone Bank, the wholly owned subsidiary of Touchstone, was merged with and into First Bank. Pursuant to the previously announced terms of the Merger, each outstanding share of Touchstone common stock and preferred stock (on an as-converted, one-for-one basis, which shares of preferred stock converted automatically to common stock at the effective time of the Merger) received 0.8122 shares of the Company’s common stock.

    Following the Merger, the former branches of Touchstone Bank assumed in the Merger continued to operate in Virginia as Touchstone Bank, a division of First Bank, and, in North Carolina, as Touchstone Bank, a division of First Bank, Strasburg, Virginia, until the systems integration is completed in February 2025. With the addition of Touchstone, the Company would have had approximately $2.1 billion in assets, $1.5 billion in loans and $1.8 billion in deposits on a combined pro-forma basis as of September 30, 2024. The combined company delivers banking services through thirty-three branch offices in Virginia and North Carolina and three loan production offices, in addition to its full complement of online banking services. During the third quarter of 2024, the Company incurred pre-tax merger costs of approximately $219 thousand related to the Merger. Effective October 1, 2024, common stock outstanding of First National Corporation totaled 8,970,345.

    NET INTEREST INCOME

    Net interest income increased $255 thousand, or 2%, to $11.7 million for the third quarter of 2024 compared to the second quarter of 2024. Total interest income increased by $389 thousand, or 2%, and was partially offset by a $134 thousand, or 2%, increase in total interest expense. The net interest margin(1) increased to 3.43%, up from 3.40% for the second quarter.

    The $389 thousand increase in total interest income was attributable to a $475 thousand increase in interest and fees on loans, which was partially offset by a $43 thousand decrease in interest income on securities and a $41 thousand decrease in interest on deposits in banks. The increase in interest and fees on loans was attributable to a 9-basis point increase in the yield on the loan portfolio and a $9.2 million increase in the average balance of loans. The decrease in interest income on deposits in other banks was attributable to a $2.9 million decrease in average balances. The decrease in interest income on securities was attributable to a $1.7 million decrease in the average balance of total securities and an 8-basis point decrease in yield. The yield on total earning assets increased to 5.08% from 5.03% in the second quarter.

    The $134 thousand increase in total interest expense was primarily attributable to a $138 thousand increase in interest expense on deposits. The increase in interest expense on deposits resulted from a $933 thousand increase in the average balance of interest-bearing deposits and a 4-basis point increase in cost. The total cost of funds was 1.72% for the third quarter of 2024, which was a 3-basis point increase compared to the second quarter of 2024.
      
    NONINTEREST INCOME

    Noninterest income totaled $3.2 million for the third quarter of 2024, which was a $517 thousand, or 19%, increase from the second quarter of 2024 and was attributable to increases in all income categories. ATM and check card fees and fees for other customer services increased $125 thousand and $98 thousand, respectively. There were also increases in wealth management fees, service charges on deposit accounts, and brokered mortgage fees of $73 thousand, $63 thousand, and $60 thousand, respectively.

    NONINTEREST EXPENSE

    Noninterest expense totaled $10.5 million for the third quarter of 2024, which was a decrease of $200 thousand, or 2%, compared to the second quarter of 2024. The decrease was primarily attributable to a $528 thousand decrease in legal and professional fees, which was a result of lower merger-related expenses in the third quarter compared to the prior period. Merger expenses totaled $219 thousand for the third quarter of 2024 compared to $571 thousand in the second quarter of 2024.

    ASSET QUALITY

    Overview

    Loans that were past due greater than 30 days and still accruing interest as a percentage of total loans were 0.24% on September 30, 2024, 0.24% on June 30, 2024, and 0.18% on September 30, 2023. Nonperforming assets (“NPAs”) as a percentage of total assets decreased to 0.41% on September 30, 2024, compared to 0.59% on June 30, 2024, and increased from 0.23% on September 30, 2023. Annualized net charge-offs as a percentage of total loans were 0.63% for the third quarter of 2024, 0.19% for the second quarter of 2024 and 0.03% for the third quarter of 2023. The allowance for credit losses on loans totaled $12.7 million, or 1.28% of total loans on September 30, 2024, $12.6 million, or 1.27% of total loans on June 30, 2024, and $8.9 million, or 0.93% of total loans on September 30, 2023.

    Past Due Loans

    Loans past due greater than 30 days and still accruing interest totaled $2.4 million on September 30, 2024, $2.4 million on June 30, 2024, and $1.8 million on September 30, 2023. There were no loans greater than 90 days past due and still accruing on September 30, 2024 and June 30, 2024, compared to $370 thousand on September 30, 2023.

    Nonperforming Assets

    NPAs decreased to $6.0 million on September 30, 2024 from $8.5 million on June 30, 2024. NPA’s totaled $3.1 million on September 30, 2023. NPA’s represented 0.41%, 0.59%, and 0.23% of total assets, respectively. The NPAs were primarily comprised of commercial and industrial loans.

    Net Charge-offs

    Net charge-offs totaled $1.6 million for the third quarter of 2024, $482 thousand for the second quarter of 2024, and $83 thousand for the third quarter of 2023.

    Provision for Credit Losses

    The provision for credit losses totaled $1.7 million for the third quarter of 2024, $400 thousand for the second quarter of 2024, and $100 thousand in the third quarter of 2023. The provision in the third quarter of 2024 was comprised of a $1.7 million provision for credit losses on loans, a $5 thousand recovery of credit losses on held-to-maturity securities, and a $17 thousand recovery of credit losses on unfunded commitments. The provision for credit losses on loans in the third quarter of 2024 was primarily attributable to increases in specific reserves on commercial and industrial loans and an increase in the general reserve component of the allowance for credit losses on loans related to an increase in projected losses, which resulted from a higher projected unemployment rate when compared to the prior quarterly period.

    Allowance for Credit Losses on Loans

    The allowance for credit losses on loans totaled $12.7 million on September 30, 2024, $12.6 million on June 30, 2024, and $8.9 million on September 30, 2023. During the third quarter of 2024, the specific reserve component of the allowance decreased by $373 thousand, while the general reserve component of the allowance increased by $524 thousand. Net charge-offs increased in the third quarter and were primarily comprised of commercial and industrial loans with specific reserves that were established in prior periods.

    The following table provides the changes in the allowance for credit losses on loans for the three-month periods ended (dollars in thousands):

        Sept 30, 2024     Jun 30, 2024     Sept 30, 2023  
    Allowance for credit losses on loans, beginning of period   $ 12,553     $ 12,603     $ 8,858  
    Net charge-offs     (1,572 )     (482 )     (83 )
    Provision for credit losses on loans     1,723       432       121  
    Allowance for credit losses on loans, end of period   $ 12,704     $ 12,553     $ 8,896  

    The allowance for credit losses on loans as a percentage of total loans totaled 1.28% on September 30, 2024, 1.27% on June 30, 2024, and 0.93% on September 30, 2023.

     Allowance for Credit Losses on Unfunded Commitments

    The allowance for credit losses on unfunded commitments totaled $370 thousand on September 30, 2024, $387 thousand on June 30, 2024 and $189 on September 30, 2023. There was a $17 thousand recovery of credit losses on unfunded commitments in the third quarter of 2024, a $26 thousand recovery of credit losses on unfunded commitments in the second quarter of 2024, and an $8 thousand recovery of credit losses on unfunded commitments in the third quarter of 2023.

    Allowance for Credit Losses on Securities 

    The allowance for credit losses on securities held-to-maturity (“HTM”) totaled $105 thousand on September 30, 2024, compared to $110 thousand on June 30, 2024, and $131 thousand on September 30, 2023. The recovery of credit losses on securities totaled $5 thousand for the third quarter of 2024, $7 thousand for the second quarter of 2024 and $12 thousand for the third quarter of 2023.

    LIQUIDITY

    Liquidity sources available to the Bank, including interest-bearing deposits in banks, unpledged securities available for sale, at fair value, unpledged securities held-to-maturity, at par, that were eligible to be pledged to the Federal Reserve Bank through its Bank Term Funding Program, and available lines of credit totaled $499.1 million on September 30, 2024, $533.3 million on June 30, 2024, and $532.1 million on September 30, 2023.

    The Bank maintains liquidity to fund loan growth and to meet potential demand from deposit customers. The estimated amount of uninsured customer deposits totaled $400.1 million on September 30, 2024, $419.4 million on June 30, 2024, and $346.9 million on September 30, 2023. Excluding municipal deposits, the estimated amount of uninsured customer deposits totaled $322.6 million on September 30, 2024, $324.6 million on June 30, 2024, and $268.4 million on September 30, 2023.

    BALANCE SHEET

    Assets totaled $1.5 billion on September 30, 2024, which was a $6.8 million, or 2% (annualized), decrease from June 30, 2024, and an $84.8 million, or 6%, increase from September 30, 2023. The decrease in total assets from the second quarter of 2024 was primarily due to a $9.1 million decrease in cash and cash equivalents and a $2.2 million decrease in other assets, which was partially offset by a $4.6 million increase in loans, net of allowance for credit losses. Total assets increased from September 30, 2023 primarily from a $76.4 million increase in cash and cash equivalents and a $38.4 million increase in loans, net of the allowance for credit losses on loans, which were partially offset by a $28.5 million decrease in securities held to maturity.

    On September 30, 2024, loans totaled $994.7 million, an increase of $4.7 million or 1.9% (annualized) from $990.0 million, on June 30, 2024. Quarterly average loans totaled $991.2 million, an increase of $9.2 million or 3.8% (annualized) from the second quarter of 2024. On September 30, 2024, loans increased $42.2 million, or 4%, from one year ago, and quarterly average loans increased $68.2 million, or 7%, when comparing the third quarter of 2024 to the same period in 2023.

    On September 30, 2024, securities totaled $269.6 million, a decrease of $875 thousand from June 30, 2024, and a decrease of $30.7 million from September 30, 2023. AFS securities totaled $146.0 million on September 30, 2024, $144.8 million on June 30, 2024, and $148.2 million on September 30, 2023. On September 30, 2024, total net unrealized losses on the AFS securities portfolio were $17.3 million, a decrease of $4.6 million from total net unrealized losses on AFS securities of $21.9 million on June 30, 2024. HTM securities are carried at cost and totaled $121.5 million on September 30, 2024, $123.6 million on June 30, 2024, and $150.0 million on September 30, 2023, and had net unrealized losses of $7.8 million on September 30, 2024, a decrease of $3.6 million compared to the prior quarter.

    On September 30, 2024, total deposits were $1.3 billion, a decrease of $12.5 million or approximately 4% (annualized) from June 30, 2024. Quarterly average deposits decreased from the second quarter of 2024 by $5.3 million or 2% (annualized). Total deposits increased $18.1 million or 1% from September 30, 2023, and quarterly average deposits for the third quarter of 2024 increased $31.2 million or 3% from the third quarter of 2023. Total deposits decreased from the prior quarter due to a $14.4 million decrease in noninterest-bearing deposits and a $1.3 million decrease in interest-bearing demand deposits, which were partially offset by a $3.1 million increase in time deposits.

    On September 30, 2024 and June 30, 2024, other borrowings totaled $50.0 million and were comprised of funds borrowed from the Federal Reserve Bank through their Bank Term Funding Program. On September 30, 2024, other borrowings had a fixed interest rate of 4.76% and a maturity date of January 15, 2025. The Bank benefited from the borrowings with a reduction in interest rate risk and an increase in net interest income. There were no other borrowings on September 30, 2023.

    The following table provides capital ratios at the periods ended:

        Sept 30, 2024     Jun 30, 2024     Sept 30, 2023  
    Total capital ratio(2)     14.29 %     14.13 %     14.80 %
    Tier 1 capital ratio(2)     13.04 %     12.88 %     13.86 %
    Common equity Tier 1 capital ratio(2)     13.04 %     12.88 %     13.86 %
    Leverage ratio(2)     9.23 %     9.17 %     9.96 %
    Common equity to total assets(3)     8.62 %     8.23 %     8.20 %
    Tangible common equity to tangible assets(1)(3)     8.43 %     8.03 %     8.00 %

    During the third quarter of 2024, the Company declared and paid cash dividends of $0.15 per common share, which was consistent with the second quarter of 2024 and the third quarter of 2023. 

    NON-GAAP FINANCIAL MEASURES

    In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that the Company’s management believes provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this document include adjusted net income, adjusted basic and diluted earnings per share, adjusted return on average assets, adjusted return on average equity, pre-provision pre-tax earnings, adjusted pre-provision pre-tax earnings, fully taxable equivalent interest income, the net interest margin, the efficiency ratio, tangible book value per share, and tangible common equity to tangible assets.

    The Company believes certain non-GAAP financial measures enhance the understanding of its business, performance and financial position. Non-GAAP financial measures are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure is included at the end of this release.

    ABOUT FIRST NATIONAL CORPORATION

    First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank (the “Bank”), a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, three loan production offices, a customer service center in a retirement community, and thirty-three bank branch office locations located throughout the Shenandoah Valley, the Roanoke Valley, the central and south-central regions of Virginia, the city of Richmond, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. The Bank also owns First Bank Financial Services, Inc., which owns an interest in an entity that provides title insurance services.

     FORWARD-LOOKING STATEMENTS

    Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s plans, objectives, expectations and intentions and other statements that are not historical facts, and other statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” and “projects,” as well as similar expression. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties. For details on factors that could affect expectations, future events, or results, see the risk factors and other cautionary language included in First National’s Annual Report on Form 10-K for the year ended December 31, 2023, and most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission (the “SEC”).

    Additional risks and uncertainties may include, but are not limited to: (1) the risk that the cost savings and any revenue synergies from the Merger may not be realized or take longer than anticipated to be realized, including due to the state of the economy or other competitive factors in the areas in which the parties operate, (2) disruption from the Merger of customer, supplier, employee or other business partner relationships, including diversion of management’s attention from ongoing business operations and opportunities due to the Merger, (3) the possibility that the costs, fees, expenses and charges related to the Merger may be greater than anticipated, (4) reputational risk and the reaction of each of the parties’ customers, suppliers, employees or other business partners to the Merger, (5) the risks relating to the integration of Touchstone’s operations into the operations of First National, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (6) the risk of expansion into new geographic or product markets, (7) the dilution caused by First National’s issuance of additional shares of its common stock in the Merger, and (8) general competitive, economic, political and market conditions. All subsequent written and oral forward-looking statements concerning First National or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. First National does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

    CONTACTS

    Scott C. Harvard   M. Shane Bell
    President and CEO   Executive Vice President and CFO
    (540) 465-9121   (540) 465-9121
    sharvard@fbvirginia.com   sbell@fbvirginia.com

      
    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)
    (unaudited)

          As of or For the Three Months Ended     As of or For the Nine Months Ended  
        Sept 30, 2024     Jun 30, 2024     Sept 30, 2023     Sept 30, 2024     Sept 30, 2023  
    Income Statement                                        
    Interest and dividend income                                        
    Interest and fees on loans   $ 14,479     $ 14,004     $ 12,640     $ 41,967     $ 36,038  
    Interest on deposits in banks     1,538       1,579       338       4,405       1,441  
    Taxable interest on securities     1,091       1,134       1,323       3,449       3,968  
    Tax-exempt interest on securities     303       306       304       914       917  
    Dividends     33       32       26       98       81  
    Total interest and dividend income   $ 17,444     $ 17,055     $ 14,631     $ 50,833     $ 42,445  
    Interest expense                                        
    Interest on deposits   $ 4,958     $ 4,820     $ 3,810     $ 14,549     $ 9,428  
    Interest on subordinated debt     69       69       69       207       207  
    Interest on junior subordinated debt     68       66       69       202       203  
    Interest on other borrowings     600       606       —       1,782       3  
    Total interest expense   $ 5,695     $ 5,561     $ 3,948     $ 16,740     $ 9,841  
    Net interest income   $ 11,749     $ 11,494     $ 10,683     $ 34,093     $ 32,604  
    Provision for credit losses     1,700       400       100       3,100       200  
    Net interest income after provision for credit losses   $ 10,049     $ 11,094     $ 10,583     $ 30,993     $ 32,404  
    Noninterest income                                        
    Service charges on deposit accounts   $ 675     $ 612     $ 733     $ 1,941     $ 2,062  
    ATM and check card fees     934       809       976       2,513       2,624  
    Wealth management fees     952       879       811       2,714       2,336  
    Fees for other customer services     276       178       122       649       538  
    Brokered mortgage fees     92       32       38       162       73  
    Income from bank owned life insurance     191       149       175       491       459  
    Net gains on securities available for sale     39       —       —       39       —  
    Other operating income     44       27       198       1,427       623  
    Total noninterest income   $ 3,203     $ 2,686     $ 3,053     $ 9,936     $ 8,715  
    Noninterest expense                                        
    Salaries and employee benefits   $ 5,927     $ 5,839     $ 5,505     $ 17,637     $ 16,040  
    Occupancy     585       548       534       1,668       1,586  
    Equipment     726       691       598       2,008       1,756  
    Marketing     262       273       204       730       720  
    Supplies     123       115       128       354       423  
    Legal and professional fees     596       1,124       439       2,172       1,204  
    ATM and check card expense     394       368       440       1,123       1,265  
    FDIC assessment     195       203       161       575       479  
    Bank franchise tax     262       261       262       785       778  
    Data processing expense     290       163       266       699       720  
    Amortization expense     4       5       5       13       14  
    Other real estate owned expense (income), net     10       —       15       10       (201 )
    Net losses on disposal of premises and equipment     2       —       —       50       —  
    Other operating expense     1,083       1,069       1,227       3,181       3,358  
    Total noninterest expense   $ 10,459     $ 10,659     $ 9,784     $ 31,005     $ 28,142  
    Income before income taxes   $ 2,793     $ 3,121     $ 3,852     $ 9,924     $ 12,977  
    Income tax expense     545       679       731       2,025       2,502  
    Net income   $ 2,248     $ 2,442     $ 3,121     $ 7,899     $ 10,475  

      
    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)
    (unaudited)

          For the Three Months Ended       For the Nine Months Ended  
        Sept 30, 2024     Jun 30, 2024     Sept 30, 2023     Sept 30, 2024     Sept 30, 2023  
    Common Share and Per Common Share Data                                        
    Earnings per common share, basic   $ 0.36     $ 0.39     $ 0.50     $ 1.26     $ 1.67  
    Adjusted earnings per common share, basic (1)   $ 0.39       0.48       0.50     $ 1.38     $ 1.67  
    Weighted average shares, basic     6,287,997       6,278,113       6,256,663       6,278,668       6,266,707  
    Earnings per common share, diluted   $ 0.36     $ 0.39     $ 0.50     $ 1.26     $ 1.67  
    Adjusted earnings per common share, diluted (1)   $ 0.39       0.48       0.50     $ 1.38     $ 1.67  
    Weighted average shares, diluted     6,303,282       6,289,405       6,271,351       6,291,775       6,276,502  
    Shares outstanding at period end     6,296,705       6,280,406       6,260,934       6,296,705       6,260,934  
    Tangible book value per share at period end (1)   $ 19.37     $ 18.59     $ 17.38     $ 19.37     $ 17.38  
    Cash dividends   $ 0.15     $ 0.15     $ 0.15     $ 0.45     $ 0.45  
                                             
    Key Performance Ratios                                        
    Return on average assets     0.62 %     0.68 %     0.91 %     0.73 %     1.03 %
    Adjusted return on average assets (1)     0.67 %     0.84 %     0.91 %     0.80 %     1.03 %
    Return on average equity     7.28 %     8.31 %     10.96 %     8.84 %     12.57 %
    Adjusted return on average equity (1)     7.93 %     10.23 %     10.96 %     9.70 %     12.57 %
    Net interest margin(1)     3.43 %     3.40 %     3.35 %     3.36 %     3.44 %
    Efficiency ratio (1)     67.95 %     70.65 %     70.67 %     68.05 %     68.17 %
                                             
    Average Balances                                        
    Average assets   $ 1,449,185     $ 1,448,478     $ 1,355,113     $ 1,441,965     $ 1,360,154  
    Average earning assets     1,374,566       1,370,187       1,275,111       1,366,639       1,278,135  
    Average shareholders’ equity     122,802       118,255       112,987       119,303       111,460  
                                             
    Asset Quality                                        
    Loan charge-offs   $ 1,667     $ 521     $ 143     $ 2,601     $ 1,228  
    Loan recoveries     95       39       60       185       326  
    Net charge-offs     1,572       482       83       2,416       902  
    Non-accrual loans     5,929       8,549       3,116       5,929       3,116  
    Other real estate owned, net     56       —       —       56       —  
    Nonperforming assets (5)     5,985       8,549       3,116       5,985       3,116  
    Loans 30 to 89 days past due, accruing     2,358       2,399       1,395       2,358       1,395  
    Loans over 90 days past due, accruing     —       —       370       —       370  
    Special mention loans     516       1,380       —       516       —  
    Substandard loans, accruing     1,713       279       1,683       1,713       1,683  
                                             
    Capital Ratios (2)                                        
    Total capital   $ 148,477     $ 147,500     $ 146,163     $ 148,477     $ 146,163  
    Tier 1 capital     135,490       134,451       136,947       135,490       136,947  
    Common equity Tier 1 capital     135,490       134,451       136,947       135,490       136,947  
    Total capital to risk-weighted assets     14.29 %     14.13 %     14.80 %     14.29 %     14.80 %
    Tier 1 capital to risk-weighted assets     13.04 %     12.88 %     13.86 %     13.04 %     13.86 %
    Common equity Tier 1 capital to risk-weighted assets     13.04 %     12.88 %     13.86 %     13.04 %     13.86 %
    Leverage ratio     9.23 %     9.17 %     9.97 %     9.23 %     9.97 %

      
    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)
    (unaudited)

        For the Period Ended  
        Sept 30, 2024     Jun 30, 2024     Mar 31, 2024     Dec 31, 2023     Sept 30, 2023  
    Balance Sheet                                        
    Cash and due from banks   $ 18,197     $ 16,729     $ 14,476     $ 17,194     $ 17,168  
    Interest-bearing deposits in banks     108,319       118,906       124,232       69,967       32,931  
    Cash and cash equivalents   $ 126,516     $ 135,635     $ 138,708     $ 87,161     $ 50,099  
    Securities available for sale, at fair value     146,013       144,816       147,675       152,857       148,175  
    Securities held to maturity, at amortized cost (net of allowance for credit losses)     121,425       123,497       125,825       148,244       149,948  
    Restricted securities, at cost     2,112       2,112       2,112       2,078       2,077  
    Loans, net of allowance for credit losses     982,016       977,423       960,371       957,456       943,603  
    Other real estate owned, net     56       —       —       —       —  
    Premises and equipment, net     22,960       22,205       21,993       22,142       21,363  
    Accrued interest receivable     4,794       4,916       4,978       4,655       4,502  
    Bank owned life insurance     24,992       24,802       24,652       24,902       24,734  
    Goodwill     3,030       3,030       3,030       3,030       3,030  
    Core deposit intangibles, net     104       108       113       117       122  
    Other assets     16,698       18,984       17,738       16,653       18,567  
    Total assets   $ 1,450,716     $ 1,457,528     $ 1,447,195     $ 1,419,295     $ 1,366,220  
                                             
    Noninterest-bearing demand deposits   $ 383,400     $ 397,770     $ 384,092     $ 379,208     $ 403,774  
    Savings and interest-bearing demand deposits     663,925       665,208       677,458       662,169       646,980  
    Time deposits     205,930       202,818       197,587       192,349       184,419  
    Total deposits   $ 1,253,255     $ 1,265,796     $ 1,259,137     $ 1,233,726     $ 1,235,173  
    Other borrowings     50,000       50,000       50,000       50,000       —  
    Subordinated debt, net     4,999       4,998       4,998       4,997       4,997  
    Junior subordinated debt     9,279       9,279       9,279       9,279       9,279  
    Accrued interest payable and other liabilities     8,068       7,564       5,965       5,022       4,792  
    Total liabilities   $ 1,325,601     $ 1,337,637     $ 1,329,379     $ 1,303,024     $ 1,254,241  
                                             
    Preferred stock   $ —     $ —     $ —     $ —     $ —  
    Common stock     7,871       7,851       7,847       7,829       7,826  
    Surplus     33,409       33,116       33,021       32,950       32,840  
    Retained earnings     99,270       97,966       96,465       94,198       95,988  
    Accumulated other comprehensive (loss), net     (15,435 )     (19,042 )     (19,517 )     (18,706 )     (24,675 )
    Total shareholders’ equity   $ 125,115     $ 119,891     $ 117,816     $ 116,271     $ 111,979  
    Total liabilities and shareholders’ equity   $ 1,450,716     $ 1,457,528     $ 1,447,195     $ 1,419,295     $ 1,366,220  
                                             
    Loan Data                                        
    Mortgage real estate loans:                                        
    Construction and land development   $ 61,446     $ 60,919     $ 53,364     $ 52,680     $ 50,405  
    Secured by farmland     9,099       8,911       9,079       9,154       7,113  
    Secured by 1-4 family residential     351,004       346,976       347,014       344,369       340,773  
    Other real estate loans     440,648       440,857       436,006       438,118       426,065  
    Loans to farmers (except those secured by real estate)     633       349       332       455       667  
    Commercial and industrial loans (except those secured by real estate)     114,190       115,951       113,230       112,619       116,463  
    Consumer installment loans     5,396       5,068       4,808       4,753       4,596  
    Deposit overdrafts     253       365       251       222       368  
    All other loans     12,051       10,580       8,890       7,060       6,049  
    Total loans   $ 994,720     $ 989,976     $ 972,974     $ 969,430     $ 952,499  
    Allowance for credit losses     (12,704 )     (12,553 )     (12,603 )     (11,974 )     (8,896 )
    Loans, net   $ 982,016     $ 977,423     $ 960,371     $ 957,456     $ 943,603  


      
    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliations
    (in thousands, except share and per share data)
    (unaudited)

          For the Three Months Ended       For the Nine Months Ended  
        Sept 30, 2024     Jun 30, 2024     Sept 30, 2023     Sept 30, 2024     Sept 30, 2023  
    Adjusted Net Income                                        
    Net income (GAAP)   $ 2,248     $ 2,442     $ 3,121     $ 7,899     $ 10,475  
    Add: Merger-related expenses     219       571       —       790       —  
    Subtract: Tax effect of adjustment (4)     (19 )     (5 )     —       (24 )     —  
    Adjusted net income (non-GAAP)   $ 2,448     $ 3,008     $ 3,121     $ 8,665     $ 10,475  
                                             
    Adjusted Earnings Per Share, Basic                                        
    Weighted average shares, basic     6,287,997       6,278,113       6,256,663       6,278,668       6,266,707  
    Basic earnings per share (GAAP)   $ 0.36     $ 0.39     $ 0.50     $ 1.26     $ 1.67  
    Adjusted earnings per share, basic (Non-GAAP)   $ 0.39     $ 0.48     $ 0.50     $ 1.38     $ 1.67  
                                             
    Adjusted Earnings Per Share, Diluted                                        
    Weighted average shares, diluted     6,303,282       6,289,405       6,271,351       6,291,775       6,276,502  
    Diluted earnings per share (GAAP)   $ 0.36     $ 0.39     $ 0.50     $ 1.26     $ 1.67  
    Adjusted diluted earnings per share (Non-GAAP)   $ 0.39     $ 0.48     $ 0.50     $ 1.38     $ 1.67  
                                             
    Adjusted Pre-Provision, Pre-Tax Earnings                                        
    Net interest income   $ 11,749     $ 11,494     $ 10,683     $ 34,093     $ 32,604  
    Total noninterest income     3,203       2,686       3,053       9,936       8,715  
    Net revenue   $ 14,952     $ 14,180     $ 13,736     $ 44,029     $ 41,319  
    Total noninterest expense     10,459       10,659       9,784       31,005       28,142  
    Pre-provision, pre-tax earnings   $ 4,493     $ 3,521     $ 3,952     $ 13,024     $ 13,177  
    Add: Merger expenses     219       571       –       790       –  
    Adjusted pre-provision, pre-tax, earnings   $ 4,712     $ 4,092     $ 3,952     $ 13,814     $ 13,177  
                                             
    Adjusted Performance Ratios                                        
    Average assets   $ 1,449,264     $ 1,448,478     $ 1,355,178     $ 1,441,996     $ 1,360,154  
    Return on average assets (GAAP)     0.62 %     0.68 %     0.91 %     0.73 %     1.03 %
    Adjusted return on average assets (Non-GAAP)     0.67 %     0.84 %     0.91 %     0.80 %     1.03 %
                                             
    Average shareholders’ equity   $ 122,802     $ 118,255       11,309     $ 119,303     $ 111,460  
    Return on average equity (GAAP)     7.28 %     8.31 %     10.96 %     8.87 %     12.57 %
    Adjusted return on average equity (Non-GAAP)     7.93 %     10.23 %     10.96 %     9.70 %     12.57 %
                                             
    Pre-provision, pre-tax return on average assets     1.23 %     0.98 %     1.16 %     1.21 %     1.30 %
    Adjusted pre-provision, pre-tax return on average assets     1.29 %     1.14 %     1.16 %     1.28 %     1.30 %
                                             
    Net Interest Margin                                        
    Tax-equivalent net interest income   $ 11,842     $ 11,587     $ 10,764     $ 34,360     $ 32,848  
    Average earning assets     1,374,566       1,370,187       1,275,111       1,366,639       1,278,136  
    Net interest margin     3.43 %     3.40 %     3.35 %     3.36 %     3.44 %
                                             

      
    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliations
    (in thousands, except share and per share data)
    (unaudited)

        For the Three Months Ended     For the Nine Months Ended  
        Sept 30, 2024     June 30, 2024     Sept 30, 2023     Sept 30, 2024     Sept 30, 2023  
    Efficiency Ratio                                        
    Total noninterest expense   $ 10,459       $ 10,659     $ 9,784     $ 31,005     $ 28,142  
    Add: other real estate owned income, net     (10 )       —       (15 )     (10 )     201  
    Subtract: amortization of intangibles     (4 )       (4 )     (5 )     (13 )     (14 )
    Subtract: loss on disposal of premises and equipment, net     (2 )       —       —       (50 )     —  
    Subtract: merger expenses     (219 )       (571 )     —       (790 )     —  
    Subtotal   $ 10,224       $ 10,084     $ 9,764     $ 30,142     $ 28,329  
    Tax-equivalent net interest income   $ 11,842       $ 11,587     $ 10,764     $ 34,360     $ 32,848  
    Total noninterest income     3,203         2,686       3,053       9,936       8,715  
    Subtotal   $ 15,045       $ 14,273     $ 13,817     $ 44,296     $ 41,563  
                                             
    Efficiency ratio     67.95 %       70.65 %     70.67 %     68.05 %     68.16 %
    Tax-Equivalent Net Interest Income                                        
    GAAP measures:                                        
    Interest income – loans   $ 14,479     $ 14,004     $ 12,640     $ 41,967     $ 36,038  
    Interest income – investments and other     2,965       3,051       1,991       8,866       6,407  
    Interest expense – deposits     (4,958 )     (4,820 )     (3,810 )     (14,549 )     (9,428 )
    Interest expense – subordinated debt     (69 )     (69 )     (69 )     (207 )     (207 )
    Interest expense – junior subordinated debt     (68 )     (66 )     (69 )     (202 )     (203 )
    Interest expense – other borrowings     (600 )     (606 )     –       (1,782 )     (3 )
    Net interest income   $ 11,749     $ 11,494     $ 10,683     $ 34,093     $ 32,604  
    Non-GAAP measures:                                        
    Add: Tax benefit realized on non-taxable interest income – loans (4)   $ 13     $ 12     $ —     $ 25     $ —  
    Add: Tax benefit realized on non-taxable interest income – municipal securities (4)     80       81       81       242       244  
    Tax benefit realized on non-taxable interest income   $ 93     $ 93     $ 81     $ 267     $ 244  
    Tax-equivalent net interest income   $ 11,842     $ 11,587     $ 10,764     $ 34,360     $ 32,848  
                                             
                                             
    Tangible Common Equity and Tangible Assets                                        
    Total assets (GAAP)   $ 1,450,716     $ 1,457,528     $ 1,366,220     $ 1,451,032     $ 1,366,220  
    Subtract: goodwill     (3,030 )     (3,030 )     (3,030 )     (3,030 )     (3,030 )
    Subtract: core deposit intangibles, net     (104 )     (108 )     (122 )     (104 )     (122 )
    Tangible assets (Non-GAAP)   $ 1,447,582     $ 1,454,390     $ 1,363,068     $ 1,447,898     $ 1,363,068  
                                             
    Total shareholders’ equity (GAAP)   $ 125,115     $ 119,891     $ 111,979     $ 125,115     $ 111,979  
    Subtract: goodwill     (3,030 )     (3,030 )     (3,030 )     (3,030 )     (3,030 )
    Subtract: core deposit intangibles, net     (104 )     (108 )     (122 )     (104 )     (122 )
    Tangible common equity (Non-GAAP)   $ 121,981     $ 116,753     $ 108,827     $ 121,981     $ 108,827  
                                             
    Tangible common equity to tangible assets ratio     8.43 %     8.03 %     8.00 %     8.43 %     8.00 %
                                             

      
    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliations
    (in thousands, except share and per share data)
    (unaudited)

        For the Three Months Ended     For the Nine Months Ended  
        Sept 30, 2024     June 30, 2024     Sept 30, 2023     Sept 30, 2024     Sept 30, 2023  
    Tangible Book Value Per Share                                        
    Tangible common equity   $ 121,981     $ 116,753     $ 108,827     $ 121,981     $ 108,827  
    Common shares outstanding, ending     6,296,705       6,280,406       6,260,934       6,296,705       6,260,934  
    Tangible book value per share   $ 19.37     $ 18.59     $ 17.38     $ 19.37     $ 17.38  
                                             

    (1) Non-GAAP financial measure. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliations” for additional information and detailed calculations of adjustments.

    (2) Capital ratios are for First Bank.

    (3) Capital ratios presented are for First National Corporation.

    (4)  The tax rate utilized in calculating the tax benefit is 21%. Certain merger-related expenses are non-deductible.

    (5) Nonperforming assets are comprised of nonaccrual loans and other real estate owned.

    The MIL Network –

  • MIL-OSI USA: Lankford Demands Answers from DHS Over Taxpayer-Funded Billboard Advancing Progressive Open-Border Policies

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford
    OKLAHOMA CITY, OK – Senator James Lankford (R-OK) sent a letter to Department of Homeland Security (DHS) Secretary Alejandro Mayorkas following a politically charged billboard from the Office of Immigration Detention Ombudsman that seems to advance the Biden-Harris Administration’s progressive border agenda. Lankford serves as the lead Republican on the Homeland Security and Governmental Affairs Subcommittee on Government Operations and Border Management.
    This billboard was first shared by Bill Melugin on X.
    “The US Department of Homeland Security (DHS) has consistently told Congress that it has limited funding and resources for immigration enforcement, and this billboard raises serious concerns around an already-troubled office’s use of taxpayer resources. This matter highlights the Biden-Harris Administration’s continued efforts to handcuff the DHS’s interior enforcement mission and US Immigration and Customs Enforcement’s (ICE) efforts to carry out that mission,” Lankford wrote in the letter.
    “Since the Biden-Harris Administration took office, CBP has encountered over 8.7 million migrants at the southern border. This number does not include the hundreds of thousands of got-aways the CBP has seen but has not apprehended… The recent billboards DHS funded for OIDO raise serious concerns about whether the office is operating in an ‘independent’ and ‘neutral’ manner. These billboards can easily be read as undercutting ICE enforcement efforts and creating a mechanism for illegal immigrants in ICE custody to be released through OIDO’s advocacy,” Lankford continued.
    Read the full letter HERE or below.
    Dear Secretary Mayorkas:
    I write today to raise concerns about a recent billboard from the Office of Immigration Detention Ombudsman (OIDO). The US Department of Homeland Security (DHS) has consistently told Congress that it has limited funding and resources for immigration enforcement, and this billboard raises serious concerns around an already-troubled office’s use of taxpayer resources. This matter highlights the Biden-Harris Administration’s continued efforts to handcuff the DHS’s interior enforcement mission and US Immigration and Customs Enforcement’s (ICE) efforts to carry out that mission. To better understand OIDO’s work right now, I ask that DHS brief my staff on OIDO’s budget and work.
    Since the Biden-Harris Administration took office, CBP has encountered over 8.7 million migrants at the southern border. This number does not include the hundreds of thousands of got-aways the CBP has seen but has not apprehended. ICE has only removed fewer than 500,000 aliens from the United States under this Administration. Rather than focusing on bolstering this interior enforcement mission, the Biden-Harris Administration has sought to handcuff ICE by implementing enforcement priorities that prevent the arrest of illegal aliens who are unlawfully present in the US, by quietly canceling thousands of cases through the Doyle Memorandum, and by regularly asking Congress every year to cut ICE’s detention beds. These policies further cripple our interior enforcement and tell the world there are no consequences for overstaying a visa or being unlawfully present in the United States.
    The Homeland Security Act requires that the Immigration Detention Ombudsman carry out its work through “independent, neutral, and confidential process[es]’ and centers the Ombudsman’s work on addressing misconduct that may arise in DHS detention facilities. The current Ombudsman has previously spoken out against ICE’s detention of illegal aliens, and the Ombudsman has previously worked for organizations that have raised questions around how many detention beds ICE operates and raised concerns around the “intrusiveness” of ICE detention and the Intensive Supervision Appearance Program.
    The recent billboards DHS funded for OIDO raise serious concerns about whether the office is operating in an ‘independent’ and ‘neutral’ manner. No one wants the constitutional rights of any individual violated. However, these billboards can easily be read as undercutting ICE enforcement efforts and creating a mechanism for illegal immigrants in ICE custody to be released through OIDO’s advocacy. As noted above, OIDO’s mission under the HSA is one of monitoring, not of advocacy and release from detention. Given this, I ask that OIDO brief our staff on its work. In addition, I ask following questions:
    Please provide any personnel-related documents relating to the Ombudsman’s appointment and prior engagement with ICE.
    Has OIDO’s work resulted in the release of any illegal immigrants from ICE custody? If so, please provide reporting justifying each release from ICE custody.
    How many billboards has OIDO funded, and where are they located? How were these billboards funded? Please provide a copy of each billboard that OIDO has posted.
    How did OIDO determine the location of each billboard?
    Did the content for these billboards go through an interagency review and clearance process? If so, please provide a description of each agency which reviewed the billboards and its concurrence/non-concurrence.
    Thank you for your attention to this matter. I look forward to receiving your response by not later than November 15, 2024.
    In God We Trust,

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, Larson, DeLauro Announce $250,000 To Prevent Pollution

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    November 01, 2024

    EAST HARTFORD—U.S. Senators Chris Murphy (D-Conn.) and Richard Blumenthal (D-Conn.) and U.S. Representatives John Larson (D-Conn.-01) and Rosa DeLauro (D-Conn.-03) announced the Connecticut Department of Energy and Environmental Protection (CT DEEP) has been selected to receive $250,000 in federal grants to provide technical assistance to help Connecticut businesses develop and adopt pollution prevention practices in local communities.
    CT DEEP will partner with the Toxic Use Reduction Institute at University of Massachusetts Lowell to identify safer cleaning and sanitizing products for craft beverage manufacturers in Connecticutto reduce energy use and greenhouse gas emissions, solid and hazardous waste, water pollution and toxic chemicals. CT DEEP will also continue to work with other New England states to offer the BetterBev recognition program, which incentivizes businesses to carry out pollution reduction measures. Facilities in or adjacent to communities with environmental justice concerns will be prioritized.
    “We won’t achieve our climate goals unless everybody is involved in the fight, but small businesses often face greater barriers to making the upfront investments for cleaner practices. By providing direct technical support to Connecticut’s local craft beverage manufacturers, this $250,000 in federal funding from the Bipartisan Infrastructure Law will help small business owners across our state adopt more sustainable, cost-effective practices that reduce harmful emissions, strengthen our economy, and safeguard the health of our communities for generations to come,” said Murphy.
    “This investment in greener craft breweries and wineries will help them be even more successful as environmental stewards. With greater technical aid, beverage businesses can expand consumer appeal by reducing pollution and protecting natural resources. It’s a boost for our economy and environment,” said Blumenthal.
    “Addressing pollution at the source is key to protecting community health and taking on the threat of climate change,” said Larson. “I have been proud to work with the entire Connecticut Congressional delegation to deliver federal funding for projects to combat pollution and ensure all communities have access to clean air and water. This funding will support ongoing work at the state and local level to invest in innovative solutions that protect our environment, combat pollution, and help reduce energy bills.”
    “Thanks to the Infrastructure Investment and Jobs Act, CT DEEP can bolster its work with businesses across our state to reduce pollution,” said DeLauro. “These funds will help drive economic growth and ensure Connecticut leads the way in combatting pollution. The climate crisis is here, and it is an existential threat. We must do all we can to reduce pollution and protect our planet for generations to come.”
    “Every community deserves clean air, safe water, and a healthy environment—and pollution prevention grants help achieve that by reducing waste at the source. By adopting smarter and innovative practices that limit the use of toxic materials and conserve resources, these investments are helping our partners to support New England businesses to cut costs, grow sustainably, and protect the environment,” said EPA Regional Administrator David W. Cash. “Thanks to the Biden-Harris Administration, together we’re creating lasting benefits for local economies and ensuring that environmental progress and economic growth go hand in hand and reach all communities, including those that need it most. That’s Investing in America.”
    EPA’s Pollution Prevention Grant Program advances President Biden’s Justice40 Initiative, which set a goal to deliver 40% of the overall benefits from certain federal investments to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution. In total, EPA has announced 48 selectees across the country that will collectively receive nearly $19 million in grants to support states, Tribal Nations, and U.S. territories in providing technical assistance to businesses to develop and adopt pollution prevention (P2) practices in local communities. This includes any practice that reduces, eliminates, or prevents pollution at its source prior to recycling, treatment, or disposal. Thanks to President Biden’s Bipartisan Infrastructure Law, nearly half of the funds awarded this year were made available with no cost share/match requirement.
    Between 2011-2022, EPA’s Pollution Prevention program issued over 500 grants totaling more than $54 million, which have helped businesses identify, develop, and adopt P2 approaches. These approaches have resulted in 31.9 billion kWh in energy savings, eliminated 20.8 million metric tons of greenhouse gases, saved 52 billion gallons of water, reduced 1 billion pounds of hazardous materials, and saved businesses more than $2.3 billion.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Congressional Delegation Announce $39 Million In Clean Ports Investments To Reduce Emissions, Improve Public Health In Southern Connecticut

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    November 01, 2024

    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.), a member of the U.S. Senate Appropriations Committee, and U.S. Senator Richard Blumenthal (D-Conn.) on Friday joined U.S. Representatives Joe Courtney (D-Conn.-02) and Rosa DeLauro (D-Conn.-03) to announce that the Connecticut Port Authority and Gateway Terminal, in partnership with the New Haven Port Authority, have been selected to receive nearly $40 million in total through EPA’s Clean Ports Program to support the deployment of zero-emission port equipment and infrastructure.
    “Our ports are the driving force behind Connecticut’s blue economy, but the diesel-powered equipment we use to move goods through them is polluting nearby communities and taking a toll on public health. By replacing aging, polluting equipment with cleaner, zero-emission alternatives, this $39 million in federal funding will help keep ports in New Haven and New London running smoothly while improving quality of life, creating good-paying jobs, and moving us closer to achieving our climate goals,” said Murphy.
    “This milestone investment will make our ports cleaner and healthier – using zero-emission equipment. Stopping air pollution while modernizing and enhancing port facilities is a gigantic win for both our environment and economy. Communities around the ports will have better air and jobs,” said Blumenthal.
    “The redevelopment and modernization of State Pier New London in 2019 dramatically increased its square footage and weight bearing capacity, with an eye to both increased cargo activity, as well as wind turbine assembly.  With this $5 million new federal investment funded by the Inflation Reduction Act, the pier can now install zero-emission power equipment so that docked ships can power onboard services. This upgrade will keep New London State Pier competitive with the maritime industry and protect water quality in the Thames River,” said Courtney.
    “I am pleased to announce that Gateway Terminals and the Connecticut Port Authority will receive vital grant funding that will reduce diesel emissions, lower health risks and noise pollution for port workers and near-port communities, and decrease pollution in the Long Island Sound,” said DeLauro. “In New Haven, Gateway Terminal will be using this funding to replace four aging diesel-powered cranes with all-electric machines, deploy 10 all-electric tractors for terminal drayage services, and install solar infrastructure.  These efforts will reduce their reliance on the electric grid and the need for fossil fuel dependency while greatly improving air quality for residents of the City.”
    The grants are funded by President Biden’s Inflation Reduction Act and will advance environmental justice by reducing diesel air pollution from U.S. ports and near surrounding communities while promoting good-paying and union jobs that help America’s ports thrive.
    The Connecticut Port Authority has been selected to receive an anticipated $5,357,103 to acquire a mobile shore power unit and install supporting shore power infrastructure at the New London State Pier. The project will reduce diesel emissions by providing power to vessels at berth, enabling docked marine vessels to connect to the local electric grid to power onboard services instead of running their diesel engines, thereby decreasing health risks and noise pollution for port workers and the near-port communities. The State Pier was recently upgraded to enable it to serve as a marshalling port for offshore wind facility operations. CPA will engage stakeholders in New London to increase public awareness education, and ongoing communication. A workforce training program developed in coordination with unions and other stakeholders will help prepare the local labor force to fill high-quality jobs created by this project.
    Enstructure New Haven Holdings’ Gateway Terminal, in partnership with the New Haven Port Authority in Connecticut, has been selected to receive an anticipated $34,032,340 for the purchase and deployment of zero-emission cargo handling equipment with supporting charging infrastructure, as well as rooftop solar generation and battery energy storage systems to supplement grid power for the mobile equipment. The project also includes scrapping several pieces of diesel-powered cargo handling equipment to reduce air pollution at the port and in the surrounding area. Training on the all-electric equipment will be provided to the existing workforce, and the community will be engaged in project implementation and in sourcing workers for new good-paying jobs. Gateway recently joined Green Marine, a voluntary environmental benchmarking and continuous improvement program, which requires participants to annually measure, certify and publish their performance indicators, including emissions reduction and community relations.
    EPA’s Clean Ports Program advances President Biden’s Justice40 Initiative, which aims to deliver 40% of the overall benefits of certain federal investments to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.  Disadvantaged communities will benefit from cleaner air and access to high quality jobs that will be created to operate zero emissions technologies at ports.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Connecticut Delegation Announce $77.8 Million In Home Energy Assistance Funding

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    November 01, 2024

    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.), a member of the U.S. Senate Appropriations Committee, and U.S. Senator Richard Blumenthal (D-Conn.) on Friday joined U.S. Representatives John Larson (D-Conn.-01), Joe Courtney (D-Conn.-02), Rosa DeLauro (D-Conn.-03), Jim Himes (D-Conn.-04) and Jahana Hayes (D-Conn-05) to announce Connecticut will receive $77,834,656 from the Low-Income Home Energy Assistance Program (LIHEAP) to help reduce heating costs for low-income families in Connecticut ahead of the winter season. This is the first allocation of LIHEAP dollars this season.
    “For too many families in Connecticut, falling temperatures mean having to choose between heating your home or putting food on the table. This $77.8 million in LIHEAP funding will help ease that burden for households feeling the strain of rising energy costs this winter, and as a member of the Senate Appropriations Committee, I’ll keep working with our delegation to ensure Connecticut families continue to have the support they need so they don’t have to make those difficult choices,” said Murphy.
    “This home heating aid is desperately needed by families who face a frigid winter without fuel for basic warmth,” said Blumenthal. “With $77.8 million, many families will be assured this basic necessity. Every day, I see and speak to people struggling to make ends meet and worrying about financial hardships and challenges. I’ll fight for more federal support for LIHEAP and other programs that help them with essential needs.”
    “As we approach the winter months, we must ensure all families are able to heat their homes without breaking the bank,” said Larson. “Thanks to the steadfast leadership of Rep. Rosa DeLauro on the Appropriations Committee, I am thrilled to join the entire Connecticut delegation to announce $77.8 million in new funding to help families afford their energy bills. We will continue to work together to ensure Connecticut residents can get the assistance they need this season.” 
    “There’s no question high energy costs are pinching homeowners’ wallets. As we head into the colder months, this $77 million federal investment in heating and energy assistance will bring welcomed relief to Connecticut residents,”  said Courtney. 
    “High costs are spreading families thin,” said DeLauro. “No family should have to choose between keeping their home warm during the colder months, keeping their lights on, or putting food on the table. As Ranking Member of the House Appropriations Committee, I secured $77.8 million for the program to help Connecticut’s families keep warm this season. Every family deserves warmth. I am committed to ensuring no household goes cold this winter.”
    “Too many families have to worry about rising energy costs that make it increasingly difficult to pay their heating bills and keep their children warm in the coming months,” said Himes. “LIHEAP offers a lifeline to struggling Americans to ensure every home offers a reprieve from our cold New England winter. I am proud to help deliver nearly $78 million to Connecticut in federal funding, including over $4 million from President Biden’s Infrastructure Investment and Jobs Act.”
    “LIHEAP is a lifeline for many families faced with rising heating costs. I am delighted $77.8 million is coming back to Connecticut to help families stay warm this winter,” said Hayes. “This assistance will help to ease the burden of high heating costs. In Congress, I will continue to advocate for additional funding for this vital resource, which lowers utility costs and prevents shut offs across Connecticut.”
    The U.S. Department of Health and Human Services (HHS), through the Office of Community Services (OCS) at the Administration for Children and Families (ACF), announced the release of $3.6 billion in LIHEAP funding to all 50 states, the District of Columbia, three territories, and more than 125 tribes. This amount includes the regular block grant appropriation and an additional $100.1 million appropriated from President Biden’s Bipartisan Infrastructure Investment and Jobs Act (IIJA). 
    Connecticut was awarded a total of $77,834,656 to assist low-income families ahead of the winter season. This includes:
    $73,556,784 from the regular LIHEAP block grant funding
    $4,273,891 in funding appropriated for FY2025 from IIJA and $3,981 in LIHEAP dollars the state returned in FY23

    MIL OSI USA News –

  • MIL-OSI USA: Salazar Urges Speaker Johnson to Prioritize Funding for Physician Training

    Source: United States House of Representatives – Congresswoman María Elvira Salazar’s (FL-27)

    WASHINGTON, D.C. – This week, Rep. María Elvira Salazar (R-FL) joined fourteen of her colleagues in a letter to Speaker Mike Johnson (R-LA) urging him to prioritize multi-year funding for teaching health centers across America. These centers and the physicians they train are a critical component of Miami and Florida’s healthcare system.

    Last year, the House of Representatives overwhelmingly passed the bipartisan Lower Costs, More Transparency Act (H.R. 5378), legislation that included a reauthorization of the Teaching Health Center Graduate Medical Education (THCGME) program through Fiscal Year 2030. The THCGME program supports the training of future physicians in community settings, providing greater access to primary care, dental care, and behavioral health services. A multi-year reauthorization will provide adequate resources for future physicians, ensuring these programs have the certainty to continue while still helping those with limited financial resources gain access to critical care.

    “As you consider possible legislation for later this session, we urge you to include in any broader legislative package a multi-year reauthorization for the Teaching Health Centers Graduate Medical Education (THCGME) program,” wrote the legislators. “Teaching health centers are a vital response to the primary care physician shortage, placing doctors in rural and underserved communities where they are needed most.”

     The letter has the support of the National Association of Community Health Centers (NACHC), the American Association of Teaching Health Centers (AATHC), and the Florida Association of Community Health Centers (FACHC). Rep. Salazar was joined in the letter by Reps. Doug LaMalfa (R-CA), Zach Nunn (R-IA), Marcus Molinaro (R-NY), Juan Ciscomani (R-AZ), David Valadao (R-CA), Young Kim (R-CA), Mike Lawler (R-NY), Andrew Garbarino (R-NY), Brandon Williams (R-NY), Nicole Malliotakis (R-NY), Laurel Lee (R-FL), Erin Houchin (R-IN), Dan Meuser (R-PA), and Michael Guest (R-MS).

    “We are grateful for Congresswoman Maria Elvira Salazar’s dedication to the Teaching Health Center Graduate Medical Education program. Her and her colleagues’ advocacy for a long-term extension and increased funding reflects their commitment to resolving the primary care workforce shortage across America. Their support will ensure we can train and retain the next generation of providers to improve the well-being of our nation,” said Joe Dunn, Chief Policy Officer of the National Association of Community Health Centers. 

    “The American Association of Teaching Health Centers is extremely grateful to Congresswoman Maria Elvira Salazar for her leadership in coordinating such an important expression of Congressional support for the Teaching Health Centers Graduate Medical Education program and to her 13 colleagues who also signed this letter to the Speaker of the House. The letter demonstrates that in medically underserved and rural communities across the nation, the residency programs our members operate are making a significant and positive impact by training the next generation of providers, whom history has shown will typically remain in such communities and reduce the physician and dentist shortage. This program has enjoyed sustained bipartisan support and in 2023, both the House and Senate took initial steps to extend it and provide a robust funding increase. As Congresswoman Salazar and her 14 colleagues indicate in the letter, it’s time for Congress to finish its work on the THCGME reauthorization and provide much-needed certainty to the organizations operating these programs across the country,” said Cristine Serrano, Executive Director of the American Association of Teaching Health Centers.

    “The Teaching Health Centers Graduate Medical Education (THCGME) program not only cultivates skilled healthcare professionals but also reinforces the vital connection between education and community health, ensuring that quality care reaches those who need it most. Representative Salazar’s commitment to increasing funding for the THCGME program demonstrates a powerful dedication to enhancing healthcare access and ensuring that future generations of physicians are trained in community-focused environments. Supporting her efforts is essential for strengthening our healthcare system and meeting the needs of underserved populations,” said Jonathan Chapman, President and CEO of the Florida Association of Community Health Centers (FACHC).

    Congresswoman Salazar has been a leader in Congress in ensuring community health centers and other important health institutions in Miami have access to adequate funding.

    Click here to read the full text of the letter.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Ramirez Statement on Rise of Hateful Rhetoric and Violent Crimes in Illinois

    Source: United States House of Representatives – Representative Delia Ramirez – Illinois (3rd District)

    Chicago, IL — Today, Congresswoman Delia C. Ramirez (IL-03) released the following statement:

    “Words have meaning and consequences. For more than a year, we have seen a rise in bigotry and hateful rhetoric in the media, from elected officials, and on the campaign trail by politicians. Dehumanization fuels violence and makes us all less safe. 

    From the hate crime against an Orthodox Jewish man in the West Ridge neighborhood to despicable comments about Puerto Rico, antisemitic words from school board appointees, and an Islamophobic post amplified and celebrated by a sitting Illinois legislator, our families are grappling with the painful impacts that hateful statements and actions have on our communities.  

    I have said repeatedly that our collective safety and security are interconnected. It’s why I introduced the Wadee Resolution that calls out Islamophobia, Antisemitism, and all forms of bigotry and hate. It’s also why I believe those of us in public service must lead by example, affirm our shared humanity and be held accountable. I am committed to building an Illinois where all our neighbors can live and worship as their full, authentic selves and where we appreciate that our multiracial, multi-faith communities only make us stronger.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Dina Titus introduces resolution condemning Recep Tayyip Erdogan, President of Turkey

    Source: United States House of Representatives – Congresswoman Dina Titus (1st District of Nevada)

    Congresswoman Dina Titus today introduced a resolution in the House of Representatives condemning Turkish President Recep Tayyip Erdogan for anti-Semitic and pro-terrorist statements attacking Israel and threatening other U.S. allies.

    Congresswoman Dina Titus today introduced a resolution in the House of Representatives condemning Turkish President Recep Tayyip Erdoğan for anti-Semitic and pro-terrorist statements attacking Israel and threatening other U.S. allies.

    “This resolution sends a strong message to President Erdoğan that the United States will not tolerate his continued statements threatening Israel and supporting the terrorist group Hamas in its war on Israel,” Congresswoman Titus said. “His statements are spreading anti-Semitism around the globe and are undermining NATO’s mission to avoid further conflict in the Middle East, including potential attacks on important U.S. allies like Greece. The Erdoğan regime should know it has an obligation to defend democracy, not terrorism.”

    Congresswoman Titus, a senior member of the House Foreign Affairs Committee and Subcommittee on Europe, was joined in her resolution condemning the Erdoğan regime by Rep. Brad Schneider (D-IL-10) and Rep. Gus Bilirakis (R-FL-12), both of whom are Co-Chairs of the Congressional Hellenic Israel Alliance.

    Congressman Schneider said, “The destabilizing actions and statements coming from President Erdoğan’s regime threaten not only our ally Israel but also the unity and security of NATO itself. This resolution condemns these harmful actions and underscores the importance of accountability within the international community. We urge Turkey to respect its commitments to democracy, peace, and alliance integrity, as we collectively work to counter terrorism and foster stability worldwide.”

    Congressman Bilirakis said, “The United States stands firm in its commitment to defend Greece against Turkish aggression and push back against Erdogan’s repeated anti-Semitic, pro-terrorist rhetoric.  His actions have been a destabilizing force in the region, and it is time for the United States to start demanding that this so-called ally start acting like one.”

    MIL OSI USA News –

  • MIL-OSI USA: SBA Administrator Guzman Celebrates National Veterans Small Business Week

    Source: United States Small Business Administration

    WASHINGTON ─ Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for more than 34 million small businesses nationwide, announced that the SBA will celebrate National Veterans Small Business Week (NVSBW) Nov. 11–15.

    “Each year during National Veterans Small Business Week, the SBA highlights the unique entrepreneurial spirit of veterans, service members, National Guard members, Reservists and military spouses,” said SBA Administrator Guzman. “America is the proud home of millions of veterans, service members, and military families. They are our neighbors and friends – and, in many cases, the owners and employees of local small businesses we love and support. Under the Biden-Harris Administration, the SBA is going further than ever to enhance and expand our support for veterans, particularly in rural and underserved areas – and it is a profound honor to serve those who have served our country, this week and every week.”

    During NVSBW, the public is invited to attend virtual and in-person events across the country  on critical topics, such as military-to-civilian transition assistance, entrepreneurial training, government contracting, disaster assistance, and access to capital resources. View the event calendar for a list of local, regional, and national events.

    In addition to local events hosted across the U.S., the SBA will host two national webinars for NVSBW. The Are You Lender Ready? For the Military Community webinar will be held on Nov. 13 at 1 p.m. ET. This two-hour virtual workshop will help veteran and military spouse entrepreneurs learn how to write a strong business loan application and hear tips directly from lenders. Register for the webinar.

    A second webinar, Certification Advantage for the Military Community, will be held on Nov. 14 at 1 p.m. ET. During this one-hour virtual workshop, business owners will discover how federal contracting certifications can boost their business growth and gain valuable insights to help them compete for government contracts. Register for the webinar.

    Additionally, as part of this year’s NVSBW celebration, five dedicated instructors who teach Boots to Business at various military installations and in local communities nationwide are being honored as Boots to Business Instructors of the Year. The honorees are:

    • Todd Bennett, 2024 Institute for Veterans and Military Families (IVMF) Boots to Business Instructor of the Year, OCONUS instructor, located in South Korea.
    • Manzel McGhee, 2024 SBDC Boots to Business Instructor of the Year, Abilene, Texas Small Business Development Center.
    • Mitchell Fitzpatrick, 2024 VBOC Boots to Business Instructor of the Year, St. Louis VetBiz Veterans Business Outreach Center.
    • David Terrell, 2024 SCORE Boots to Business Instructor of the Year, Southern Arizona SCORE.
    • Eric Phillips, 2024 SBA Boots to Business Instructor of the Year, SBA Colorado District Office.

    The Boots to Business Instructors of the Year recognition ceremony will be held virtually on Nov. 21 at 1 p.m. ET. Join the ceremony online or dial 206-413-7980 and enter conference ID 644 263 054#.

    ###

     

    About SBA’s Office of Veterans Business Development

    The SBA Office of Veterans Business Development (OVBD) works through SBA’s extensive resource partner network, which includes Small Business Development Centers, the SCORE mentoring program, Women’s Business Centers, and 31 VBOCs located throughout the nation. VBOCs are the leading partner in hosting the Boots to Business (B2B), Boots to Business Reboot, and Military Spouse Pathway to Business programs, which are courses on entrepreneurship offered on military installations, in local communities, and virtually. Since B2B’s inception in 2013, these programs have collectively trained and graduated more than 217,000 service members, veterans, National Guard and Reserve members, and military spouses. For more information on the resources available for veteran entrepreneurs, visit www.sba.gov/veterans.

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI USA: S. 3679, Dr. Lorna Breen Health Care Provider Protection Reauthorization Act

    Source: US Congressional Budget Office

    S. 3679 would reauthorize the appropriation of $45 million each year from 2025 through 2029 for the Health Resources and Services Administration (HRSA) to support the mental health and wellness of healthcare professionals and provide grants for those purposes. In 2024, HRSA allocated $25 million for those activities. Based on historical spending patterns for those activities and assuming the appropriation of the authorized amounts, CBO estimates that implementing those provisions would cost $181 million over the 2025-2029 period.

    MIL OSI USA News –

  • MIL-OSI USA: S. 3765, Emergency Medical Services for Children Reauthorization Act of 2024

    Source: US Congressional Budget Office

    S. 3765 would reauthorize the appropriation of $24.3 million each year from 2025 through 2029 for the Health Resources and Services Administration (HRSA) to provide grants to support the expansion and improvement of emergency medical services for children who need treatment for trauma or critical care. In 2024, HRSA allocated $24 million for those activities. Based on historical spending patterns for those activities and assuming the appropriation of the authorized amounts, CBO estimates that implementing the bill would cost $94 million over the 2025-2029 period and $26 million after 2029.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 9197, Small Business Artificial Intelligence Advancement Act

    Source: US Congressional Budget Office

    H.R. 9197 would require the National Institute of Standards and Technology (NIST) to develop and disseminate resources for small businesses relating to artificial intelligence (AI). NIST would be required to review and update these resources every two years and to report to Congress within four years of enactment. The bill also would direct NIST to continue supporting small and medium-sized manufacturers in adopting new technologies, such as AI.

    Based on the cost of similar activities, CBO expects that NIST would need two people, at an annual per-person cost of about $235,000 in 2025, to produce and distribute the required materials. On that basis and accounting for anticipated inflation, CBO estimates that implementing H.R. 9197 would cost $2 million over the 2025-2029 period. Any related spending would be subject to the availability of appropriated funds. 

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 6213, National Quantum Initiative Reauthorization Act

    Source: US Congressional Budget Office

    Categories24/7 OSI, MIL-OSI, United States Government, US Congressional, US Congressional Budget Office

    By Fiscal Year, Millions of Dollars

    2025

    2025-2029

    2025-2034

    Direct Spending (Outlays)

    0

    0

    0

    Revenues

    0

    0

    0

    Increase or Decrease (-) in the Deficit

    0

    0

    0

    Spending Subject to Appropriation (Outlays)

    57

    1,326

    not estimated

    Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?

    No

    Statutory pay-as-you-go procedures apply?

    No

    Mandate Effects

    Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?

    No

    Contains intergovernmental mandate?

    No

    Contains private-sector mandate?

    No
    The bill would
    Estimated budgetary effects would mainly stem from

    MIL OSI USA News –

  • MIL-OSI USA: H.J. Res. 120, a joint resolution providing for Congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Stability Oversight Council related to “Guidance on Nonbank Financial Company Determinations”

    Source: US Congressional Budget Office

    H.J. Res. 120 would disapprove a final rule published by the Financial Stability Oversight Council (FSOC) in November 2023.By invoking a legislative process established in the Congressional Review Act, the resolution would repeal the rule and prohibit the agency from issuing the same or any similar rule in the future.

    The rule modified the FSOC’s process for determining which nonbank financial companies are systemically important financial institutions and thus subject to enhanced oversight by the Federal Reserve. It removed certain prerequisites for the designation of systemic importance required under previous guidance issued in 2019. 

    MIL OSI USA News –

  • MIL-OSI USA: NASA’s New Edition of Graphic Novel Features Europa Clipper

    Source: NASA

    A new edition of Issue #4 of Astrobiology: The Story of our Search for Life in the Universe has been released to include the NASA Europa Clipper mission.
    NASA Astrobiology/Aaron Gronstal

    To celebrate the successful launch of NASA’s Europa Clipper mission, the agency’s Astrobiology program has released a new edition of Issue #4 – Missions to the Outer Solar System – of its graphic history series Astrobiology: The Story of our Search for Life in the Universe.

    Issue #4 tells the story of the outer solar system, from beyond the asteroid belt to the outer reaches of the Sun’s magnetic influence. Gas giants like Jupiter and Saturn are not habitable, but many of their moons raise questions about life’s potential far, far away from the warmth of the Sun.

    One such body is Jupiter’s moon Europa, which contains an ocean of liquid water beneath its icy surface. The Europa Clipper mission is designed to help scientists understand whether this ocean holds key ingredients that could support habitable environments for life as we know it. The spacecraft launched on Oct. 14 and will arrive at Jupiter in 2030.

    Additional content in the fourth edition of Issue #4 also includes ESA’s (European Space Agency) Juice (Jupiter Icy Moons Explorer) mission, which will arrive in the Jovian system in 2031 and collect data on many of Jupiter’s moons, including Ganymede, Europa, Callisto, and Io, that is complementary to Europa Clipper’s investigation.

    Read more about how astrobiologists study the potential for life on worlds like Europa and the exciting data that Europa Clipper will gather by visiting NASA’s Astrobiology website and downloading the new edition.

    Digital wallpaper for phones, desktops, or meeting backgrounds that feature the new Europa Clipper artwork from Issue #4 are also available.

    This wallpaper image featuring NASA’s Europa Clipper mission uses artwork from Issue #4 of the astrobiology graphic history series, Astrobiology: The Story of our Search for Life in the Universe. The image of Jupiter in the background is adapted from imagery taken by NASA’s Juno Mission (Exotic Marble, 2019, NASA/JPL-Caltech/SwRI/MSSS/Prateek Sarpal/©CCNCSA)
    NASA Astrobiology/Aaron Gronstal

    For more information on NASA’s Astrobiology program, visit:

    https://science.nasa.gov/astrobiology

    -end-

    Karen Fox / Molly Wasser

    Headquarters, Washington

    202-358-1600

    karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov 

    MIL OSI USA News –

  • MIL-OSI USA: NASA Awards Contract for Refuse and Recycling Services

    Source: NASA

    NASA has awarded the Custodial and Refuse/Recycle Services contract to Ahtna Integrated Services LLC  of Anchorage, Alaska, to provide trash, waste, and recycling services at the agency’s Ames Research Center in California’s Silicon Valley.
    This is a hybrid contract that includes a firm-fixed-price and an indefinite-delivery/indefinite-quantity portion. The period of performance begins Friday, Nov. 1, with a 60-day phase-in period, followed by a one-year base period, and options to extend performance through November 2029. This contract has a maximum potential value of approximately $24 million.
    Under this contract, the company will perform basic, regularly scheduled custodial and refuse and recycling services at NASA Ames. The company will focus on health and safety, environmental compliance, sanitary cleaning, and customer service.
    For information about NASA and agency programs, visit:

    Home Page

    -end-
    Hillary SmithAmes Research Center, Moffett Field, Calif.                                         650-313-1701Hillary.smith@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Governor Cooper Provides Bereavement Leave for State Employees

    Source: US State of North Carolina

    Headline: Governor Cooper Provides Bereavement Leave for State Employees

    Governor Cooper Provides Bereavement Leave for State Employees
    mseets

    Today, Governor Roy Cooper issued an Executive Order providing bereavement leave for state employees who lose a family member or coworker.

    “Balancing work with family responsibilities can be challenging, and we want state employees to have time to grieve when they lose a loved one,” Governor Cooper said. “We continue to mourn those who lost their lives to Hurricane Helene, and this leave will be available to help state employees who lost family or coworkers to the storm.”

    Employees will be eligible for up to 40 hours of paid leave following the loss of an immediate family member, including a spouse, child, sibling, parent, or grandparent. Step, half, and in-law family members are included as well as any dependent living in the employee’s home.

    The bereavement leave covers the loss of a loved one for any reason and is retroactive to September 27, 2024 due to Hurricane Helene. Any eligible employee who suffered a loss after September 27, whether due to the storm or other causes, will have access to the leave. Eligible employees have up to six months after the death to take bereavement leave.

    Employees who lost a colleague will be eligible for up to eight hours of bereavement leave to attend a funeral or memorial service for their coworker.

    Executive Order No. 325 will automatically apply to Cabinet Agencies. All other state agencies and state universities are encouraged to adopt the policy. The Office of State Human Resources has developed a policy to implement the new bereavement leave.

    “Our people are our greatest resource and we’re pleased to add bereavement leave to the benefits we are able to offer state employees,” said Barbara Gibson, Director of the Office of State Human Resources.

    Governor Cooper’s administration has previously extended paid parental leave and personal observance leave to state employees. Additional types of leave are also available to state employees impacted by Hurricane Helene, including for those whose workplaces or homes were damaged by the storm. All state employees also have access to additional community service leave to volunteer with storm recovery efforts.

    Last week, Governor Cooper announced his budget recommendation to help Western North Carolina rebuild stronger. Governor Cooper recommends an initial $3.9 billion package to begin rebuilding critical infrastructure, homes, businesses, schools, and farms damaged during the storm. Initial damage estimates are $53 billion, roughly three times Hurricane Florence estimates in 2018 and the largest in state history.

    Read the Executive Order here.

    ###

    Nov 1, 2024

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Alan Wilson announces significant updates in multistate litigation against generic drug manufacturers over conspiracy to inflate prices and limit competitionRead More

    Source: US State of South Carolina

    If you bought certain generic prescription drugs in the United States between January 1, 2010 and December 31, 2016, you could be eligible for money

     

    Attorney General Wilson announces cooperation agreements and settlements with Heritage and Apotex totaling $49.1 Million

     

    First two settlements and cooperation agreements with corporate defendants as states prepare for trial in ongoing generic drug price-fixing litigation

    (COLUMBIA, S.C.) – Attorney General Alan Wilson today joined a coalition of 50 states and territories announcing two significant cooperation agreements and settlements with Heritage Pharmaceuticals and Apotex totaling $49.1 million to resolve allegations that both companies engaged in widespread, long-running conspiracies to artificially inflate and manipulate prices, reduce competition, and unreasonably restrain trade with regard to numerous generic prescription drugs. As part of their settlement agreements, both companies have agreed to cooperate in the ongoing multistate litigations led by Connecticut against 30 corporate defendants and 25 individual executives. Both companies have further agreed to a series of internal reforms to ensure fair competition and compliance with antitrust laws. A motion for preliminary approval of the $10 million settlement with Heritage was filed today in the United States District Court for the District of Connecticut in Hartford. A settlement with Apotex for $39.1 million is contingent upon obtaining signatures from all necessary states and territories and will be finalized and filed in the U.S. District Court in the near future.

    The settlements come as the states prepare for the first trial to be held in Hartford, Connecticut.

    If you purchased a generic prescription drug from either Heritage or Apotex between 2010 and 2016, you may be eligible for compensation. To determine your eligibility, call 1-866-290-0182 (Toll-Free), email [email protected] or visit www.AGGenericDrugs.com.

    “I am proud to join my fellow state attorneys general in resolving this matter related to generic drug price fixing,” Attorney General Wilson said. “This settlement resolves a portion of the litigation, and the litigation continues as we seek to hold other defendants accountable and protect consumers.”  

    Connecticut’s Assistant Attorney General Joseph Nielsen is the lead attorney for a coalition of nearly all states and territories filing three antitrust complaints, starting first in 2016. The first Complaint included Heritage and 17 other corporate Defendants, two individual Defendants, and 15 generic drugs. Two former executives from Heritage Pharmaceuticals, Jeffery Glazer and Jason Malek, have since entered into settlement agreements and are cooperating. The second Complaint was filed in 2019 against Teva Pharmaceuticals and 19 of the nation’s largest generic drug manufacturers. The Complaint names 16 individual senior executive Defendants. The third complaint, to be tried first, focuses on 80 topical generic drugs that account for billions of dollars of sales in the United States and names 26 corporate defendants and 10 individual defendants. Six additional pharmaceutical executives have entered into settlement agreements with the States and have been cooperating to support the States’ claims in all three cases.  

    The cases all stem from a series of investigations built on evidence from several cooperating witnesses at the core of the different conspiracies, a massive document database of over 20 million documents, and a phone records database containing millions of call detail records and contact information for over 600 sales and pricing individuals in the generics industry. Each complaint addresses a different set of drugs and defendants and lays out an interconnected web of industry executives where these competitors met with each other during industry dinners, “girls’ nights out”, lunches, cocktail parties, and golf outings and communicated via frequent telephone calls, emails and text messages that sowed the seeds for their illegal agreements. Throughout the complaints, defendants use terms like “fair share,” “playing nice in the sandbox,” and “responsible competitor” to describe how they unlawfully discouraged competition, raised prices, and enforced an ingrained culture of collusion. Among the records obtained by the States is a two-volume notebook containing the contemporaneous notes of one of the States’ cooperators that memorialized his discussions during phone calls with competitors and internal company meetings over a period of several years.

    Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, U.S. Virgin Islands, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and Puerto Rico joined in today’s announcement.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Alan Wilson announces jury verdict of guilty in Kershaw Co. drug trafficking case; defendant sentenced to 25 years in prisonRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announces that a Lexington County man has been sentenced to 25 years in prison for trafficking cocaine in Kershaw County. On October 31, 2024, Walter Goad was found guilty of trafficking more than 200 grams of cocaine in Kershaw County.

    In August of 2016, agents started investigating a suspected cocaine distributor in Kershaw County. During their investigation into this individual, they became aware that his supplier was Walter Goad. On or about September 22, 2016, Goad was observed by law enforcement arriving at the residence of the suspected cocaine dealer on Ward Road in Lugoff. Goad remained there for a few minutes and then left. Agents followed Goad and visually identified him. At the same time, the suspected cocaine dealer called a law enforcement confidential informant and told him that he “just got his hands on” the cocaine he was waiting for. Within minutes, agents executed a search warrant on the Ward Road residence and recovered approximately ten ounces of cocaine. The suspected cocaine dealer implicated Goad as his supplier and told agents that Goad had just delivered the cocaine. The cocaine was still in its brick form when agents recovered it, and the packaging it had been delivered in was on the floor next to the cocaine.

    Agents utilized the suspected cocaine dealer to conduct a monitored and recorded phone call with Goad. In the phone call, Goad asked where his money was and referred to the cocaine he had delivered. Immediately after hanging up, Goad called back and asked if he needed to send people over to Kershaw County to put guns in people’s faces to make them pay their drug debts.

    On October 3, 2016, DEA agents along with the Lexington County Sheriff’s Office executed a search warrant at Goad’s home in Lexington County. During the search, a K9 Officer alerted to the odor of narcotics on a large black bin in the garage. Inside the bin, agents found industrial-sized packaging materials that matched the packaging of the cocaine, along with a very large digital scale. Agents also recovered a suspected drug ledger.

    After a four-day trial, a Kershaw County jury found Goad guilty of trafficking between 200 and 400 grams of cocaine. The Honorable Judge Jocelyn Newman sentenced Goad to 25 years in prison and imposed a $100,000 fine. Goad was given credit for the two days he spent in jail immediately following his arrest. Goad will be required to serve at least eighty-five percent of his sentence before he is eligible for parole.

    Following Goad’s conviction, Kershaw County Sheriff Lee Boan said, “We are always thankful to see drug traffickers get prosecuted and sentenced to prison. These crimes often get forgotten because drug trafficking can be seen as a victimless crime. It is not.”

    Assistant Attorneys General Christina Gatte and Jennifer McKellar of the State Grand Jury Section prosecuted the case for the State. The case was investigated by Michael Sellers, formerly of the Kershaw County Sheriff’s Office, Special Agent Adam Hardin of the DEA, the Kershaw County Sheriff’s Office, and the United States Drug Enforcement Agency, with assistance from the Lexington County Sheriff’s Office and the South Carolina Law Enforcement Division.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Alan Wilson announces Simpsonville man gets 25 years for sex charges against minorsRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – Attorney General Alan Wilson announced that Andrew Scott Walker pleaded guilty to one count of Sexual Exploitation of a Minor, 1st Degree, and one count of Criminal Sexual Conduct with a Minor, 3rd Degree in Greenville County on October 31, 2024, before Judge Perry Gravely.

     

    In January 2021, the Simpsonville Police Department responded to a residence after receiving a report from a concerned citizen that she discovered nude images of children on the phone of a man she knew. The Simpsonville Police Department seized the cell phone and searched the device, in which more pictures and videos were discovered of Walker sexually assaulting one of the children, and his voice was identified. The children were also identified.

     

    Judge Gravely sentenced Walker to 10 years in prison on the Sexual Exploitation of a Minor, 1st Degree charge, which is to run consecutive to the Criminal Sexual Conduct with a Minor, 3rd Degree charge, for which he received 15 years, for a total sentence of 25 years. He must register as a sex offender upon his release, consented to a forfeiture order, and a permanent restraining order was signed for the victims.

     

    Assistant Attorney General Kristen Johnson prosecuted the case.

     

    Attorney General Wilson thanks Investigator Jim Donnely from the Simpsonville Police Department, the Simpsonville Police Department, and the Greenville County Sheriff’s Office who assisted in the investigation. 

    MIL OSI USA News –

  • MIL-OSI Security: U.S. Marshals-led Operation Safe Haven Arrests More Than 53 Fugitives in Southern District of Ohio

    Source: US Marshals Service

    Columbus, OH – The U.S. Marshals Service Southern Ohio Fugitive Apprehension Strike Team (SOFAST) arrested 53 violent Felony Domestic Violence and Felony Family Violence fugitives during a fugitive apprehension initiative called Operation Safe Haven.

    Enforcement activities covered 31 operational days, from Oct 1 to Oct 31, and targeted fugitives with Felony Domestic Violence and Felony Family Violence arrest warrants, prioritizing those who used firearms in the commission of crimes or signaled high-risk factors for violence. Operation Safe Haven resulted in the arrest of fugitives on charges to include homicide, forcible sexual assault, domestic violence, aggravated assault, and child abuse.

    Notable arrests included: On 10/17/2024, Columbus SOFAST arrested Justin Woolum. Woolum was wanted by the Kenova Police Department (WV) for Rape of a Minor. Columbus SOFAST arrested Woolum in Lancaster, OH.

    On 10/30/2024, Dayton SOFAST arrested James Wilson. Wilson was wanted by Dayton Police Department for Felony Domestic Violence and Strangulation. The United States District Court for the Southern District of Ohio also issued an arrest warrant for Wilson charging him with a Supervised Release Violation.

    On 10/01/2024, Columbus SOFAST and FCSO (Franklin County Sheriff’s Office) SWAT arrested Aaron Rice. Rice was wanted by the Springfield Police Division for Felonious Assault and Weapons Offenses. Rice was indicted for Abduction and Kidnapping. An investigation indicated that, while Rice was a fugitive for the Felonious Assault case, he kidnapped the victim and a small child. Rice drove the victims from Ohio to Tennessee where they escaped. Rice was also facing Felony Domestic Violence charges in the State of Tennessee at the time of his arrest.

    On 10/18/2024, Cincinnati SOFAST arrested Timothy Cromwell. Cromwell was wanted by the Colerain Township Police Department for the Abduction and Kidnapping of the victim at gun point.

    On 10/25/2024, Cincinnati SOFAST arrested Jurabek Sherov. Sherov was wanted by the Warren County Sheriff’s Office for kidnapping the victim and holding her hostage for several days at gun point. Sherov was also charged with Rape, and Strangulation.

    “Every day our Deputy U.S. Marshals and Task Force officers are out locating and apprehending our most violent offenders. As part of Domestic Violence Awareness Month, the U.S. Marshals and our law enforcement partners focused on locating those suspects accused of violent crimes relating to domestic violence. Removing these dangerous fugitives from our community can hopefully bring some peace to the victims and serve as a deterrent to others to not commit these sorts of crimes”. – Michael D. Black, U.S. Marshal, Southern District of Ohio.

    Columbus SOFAST is a fugitive-focused, U.S. Marshals Service-led task force consisting of local, state and federal authorities including the Columbus Division of Police, Franklin County Sheriff’s Office, Ohio Adult Parole Authority, Ohio State Highway Patrol, Immigration and Customs Enforcement, Bexley Police Department, Capital University Police Department, Delaware County Probation Office, Groveport Police Department, Hocking County Sheriff’s Office, Lancaster Police Department, Ohio Attorney General Bureau of Criminal Investigation, Ohio Division of State Fire Marshal, Office of Inspector General Social Security Administration, United States Attorney’s Office, Utica Police Department, Whitehall Police Department, and Zanesville Police Department.

    Dayton SOFAST is a multi-jurisdictional, U.S. Marshals Service- led task force comprised of the Dayton Police Department, Ohio Adult Parole Authority, Ohio State Highway Patrol, Shelby County Sheriff’s Office, Springfield Division of Police, Greene County Prosecutor’s Office, Miami County Sheriff’s Office, Montgomery County Prosecutor’s Office, Perry Township Police Department, Greenville Police Department, Springboro Police Department, Franklin Police Department, United States Secret Service, Warren County Sheriff’s Office, West Carrollton Police Department, and the Xenia Police Department.

    Cincinnati SOFAST is a U.S. Marshals Service-led task force consisting of local, state, and federal authorities including the Adult Parole Authority, Butler County Sheriff’s Office, Hamilton County Sheriff’s Office, Butler County Probation Office, Colerain Township Police Department, Department of Homeland Security/ Immigration and Customs Enforcement, Golf Manor Police Department, Harrison Police Department, Mount Orab Police Department, Social Security Administration Office of the Inspector General, Trenton Police Department, Warren County Prosecutor’s Office, and Warren County Sheriff’s Office.

    Anyone with information on any fugitive may submit an anonymous web tip.
     

    MIL Security OSI –

  • MIL-OSI: Crown LNG Announces Execution of Final Agreements to Acquire Kakinada and Grangemouth LNG Import Terminal Assets

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Nov. 01, 2024 (GLOBE NEWSWIRE) — Crown LNG Holdings Limited (Nasdaq: CGBS) (“Crown” or “Crown LNG”), a leading provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, today announced the conclusion of two strategic acquisition agreements forming the basis of Crown LNG’s entry into the global LNG infrastructure network: KGLNG and Grangemouth. The KGLNG agreement finalizes the acquisition of all shares of KGLNG, which owns the operating license for the Company’s planned LNG import terminal in Kakinada, India. The Grangemouth agreement finalizes the acquisition of LNG import terminal assets in Grangemouth, Scotland from GBTron Lands Limited.

    The Kakinada project, located on the East coast of India, is licensed to operate 365 days a year, a first for the harsh weather prone area. Imported gas from the planned terminal would reach demand centers via the East-West Pipeline, helping to support the Indian government’s drive to more than double the share of natural gas in the country’s energy mix to 15% by 2030.

    Total consideration for the KGLNG acquisition will be made in shares of Crown LNG equal to $60 million.

    The Grangemouth project, located on the East coast of Scotland, seeks to support the UK’s increasing drive for energy security post-Brexit and in the context of geopolitical impacts on energy markets. Currently, the UK relies on just three facilities for all of the country’s LNG imports, which increased 74% from 2021 to 2022.

    Total consideration for the GBTron acquisition will be made in shares of Crown LNG equal to $25 million.

    “We are excited and proud to announce the execution of these two transactions and move these two projects down the path,” said Swapan Kataria, Chief Executive Officer of Crown LNG. “With Crown LNG and our subsidiaries now firmly in control of the Kakinada and Grangemouth projects, we look forward to driving the success of these two transformative projects for both India and the UK.”

    Crown remains dedicated to delivering exceptional LNG liquefaction and regasification terminal infrastructure solutions services that cater to the evolving needs of the under-served markets across the globe. As we focus on expanding our operations in Europe and South Asia, we continue to forge strategic partnerships and explore new opportunities to provide efficient and reliable solutions.

    About Crown LNG Holdings Limited
    Crown LNG is a leading provider of offshore LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations, which represent a significant addressable market for bottom-fixed, gravity based (“GBS”) liquefaction and floating storage regasification units, as well as associated green and blue hydrogen, ammonia and power projects. Through this approach, Crown aims to provide lower carbon sources of energy securely to under-served markets across the globe. Visit www.crownlng.com/investors for more information.

    Forward-Looking Information and Statements

    Certain statements in this announcement are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” “should,” “would,” “plan,” “future,” “outlook,” “potential,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. They involve known and unknown risks and uncertainties and are based on various assumptions, whether or not identified in this press release and on current expectations of Crown’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Crown. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political and legal conditions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    Crown LNG Holdings Limited Contacts

    Investors
    Caldwell Bailey
    ICR, Inc.
    CrownLNGIR@icrinc.com

    Media
    Zach Gorin
    ICR, Inc.
    CrownLNGPR@icrinc.com

    The MIL Network –

  • MIL-OSI: NexQloud Wins Audience Choice Award at Blockchain Life 2024

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates , Nov. 01, 2024 (GLOBE NEWSWIRE) — NexQloud, a decentralized cloud computing startup, recently announced its win of the Audience Choice Award at the Blockchain Life 2024 conference in Dubai.

    Recognized as one of the world’s premier events for blockchain innovation, Blockchain Life attracted over 10,000 attendees, 200 influential speakers, and a select lineup of 14 startups pitching to an audience of investors. Amid an atmosphere of tech enthusiasts searching for the next unicorn, NexQloud emerged as the crowd favorite, earning widespread acclaim for its presentation and vision of transforming privately owned devices into a decentralized cloud computing solution.

    NexQloud’s Compelling Vision
    NexQloud harnesses the underutilized computing power of everyday devices, connecting them into a decentralized network powered by NXQ tokens and smart contracts. This model dramatically reduces operational costs, enhances security by decentralizing data, and lowers environmental impact through efficient resource utilization—a combination that resonated deeply with Blockchain Life attendees.

    “Our favorite prize went to the vibrant and compelling startup NexQloud. This project combines blockchain technology, AI, and CPU devices to create a more secure and cost-effective cloud solution for businesses. The NexQloud speaker’s enthusiastic performance left us deeply impressed!” said the award sponsor, Cellframe Network.

    “Our Audience Choice Award at Blockchain Life 2024 is a powerful validation of NexQloud’s mission,” said Mauro Terrinoni, CEO of NexQloud. “This recognition underscores the importance of an inclusive and sustainable cloud computing model that benefits everyone—from individuals leasing their devices to businesses seeking cost-effective, eco-friendly alternatives. By leveraging the collective power of idle computing resources, we’re building a greener, more secure cloud ecosystem.”

    Future Roadmap: Scaling Decentralized Cloud Access
    Building on this success, NexQloud is gearing up for an expansion plan, and intends to establish its presence at other tech events globally. These engagements aim to extend NexQloud’s reach and deepen relationships with potential collaborators, device owners, and business users. As cloud computing approaches a projected $1 trillion market value by 2027, NexQloud’s decentralized platform offers a future-ready alternative that addresses the industry’s core challenges—cost, security, and sustainability. Through its unique blend of NFT digital keys and NXQ token-based incentives, NexQloud aims to reimagine the cloud by reshaping it into a shared, efficient, and sustainable ecosystem.

    About NexQloud
    NexQloud’s platform harnesses the power of its proprietary layer one blockchain to deliver decentralized cloud services that meet the rising demand for more affordable, secure, and environmentally friendly computing solutions. By tapping into idle computing resources from devices across the globe, NexQloud transforms unused capacity into a powerful, distributed cloud network. This decentralized approach not only ensures exceptional efficiency and reliability but also cuts costs and reduces environmental impact. NexQloud’s innovative system creates a scalable cloud infrastructure that is both economically and ecologically sustainable, offering businesses a smarter, greener alternative to traditional cloud providers.

    Contact:
    Name: Mauro Terrinoni, CEO
    Email: mterrinoni@nexqloud.io
    Company Name: NexQloud
    Website: nexqloud.io
    Contact number: +1 669 241 0916

    The MIL Network –