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Category: KB

  • MIL-OSI Security: Two sent to prison for roles in cartel-linked human smuggling scheme

    Source: Office of United States Attorneys

    LAREDO, Texas – Two individuals have been sentenced to prison for their roles in an extensive human smuggling conspiracy involving Cartel del Noreste (CDN), announced U.S. Attorney Alamdar S. Hamdani. 

    Laredo resident Francisco Suarez, 20, and Luis Daniel Segura Guzman, 26, a Mexican citizen residing in Laredo. Suarez pleaded guilty Dec. 20, 2023, and Jan. 18, respectively.    

    U.S. District Judge Diana Saldaña has now imposed a 33-month term of imprisonment for Suarez, while Segura received 30 months. Both must serve three years of supervised release following their sentences. Not a U.S. citizen, Guzman is expected to face removal proceedings following his imprisonment. At the hearing, the court heard additional evidence that Suarez and Segura were a part of Los Fantasmas, a gang and alien smuggling organization who works hand-in-hand with Mexican cartels. Judge Saldaña imposed sentencing enhancements that held each responsible for smuggling at least 100 aliens or more. The court commented that both were “committed to this lifestyle” and noted the importance of imposing a sentence that would deter them from becoming involved in this conduct in the future.  

    Another co-conspirator Bernardo Aniceto Garza, 27, Laredo, also pleaded guilty and is set for sentencing Nov. 4.  

    “Cartel del Noreste, a Mexican cartel, is known for engaging in ruthless acts of violence and extortion to support its drug trafficking operations, and in recent years it has added human smuggling to its list of illicit money-making operations, with Facebook and social media becoming invaluable tools to facilitate its new venture,” said Hamdani. “CDN uses these platforms to recruit, coordinate and expand its criminal operations, reaching broader audiences, while putting countless lives at risk. For years, Suarez and Guzman used Facebook to exploit and profit from vulnerable individuals while also evading detection, but thanks to the efforts of my office, those days are now over.”

    On Aug. 23, 2023, authorities discovered a Facebook post that appeared to be advertising transportation services for undocumented aliens via sleeper cabs of tractor trailers. The investigation revealed Segura coordinated the transportation of three undocumented aliens for approximately $8,000 and arranged for a Garza to make the pickup in Laredo that afternoon.

    Authorities were able to apprehend Garza and found two women and a 15-year-old minor inside a parked tractor. All were citizens of Mexico and El Salvador and illegally present in the United States. Law enforcement also discovered a firearm inside the vehicle Garza was driving.   

    On Sept. 16, 2023, authorities encountered Segura in Laredo. He admitted the CDN had recruited him in Mexico to smuggle aliens and that he worked with Suarez to do so. Law enforcement located a cell phone in Segura’s possession that was still logged into the Facebook account used to advertise and coordinate the August smuggling event.  

    Suarez was acting as a scout in a separate smuggling attempt Sept. 19, 2023, when law enforcement arrested him. He admitted he worked for Garza and had provided him with the three migrants authorities caught Garza transporting. The investigation also identified Suarez as a stash house operator responsible for harboring undocumented individuals. 

    An analysis of Segura’s phone revealed his involvement in the smuggling of at least 133 undocumented individuals. Historical data and messages traced Segura’s smuggling activities back to May 2020. The phone also contained detailed information, including photographs and identifying information of suspected migrants, screenshots of smuggling routes and deposit receipts for payments tied to smuggling services. 

    Authorities found similar information on Suarez’s cell phone which included photos of approximately 300 unique individuals illegally smuggled across the border, including children, dating back to September 2022. 

    The men will remain in custody pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future. 

    Homeland Security Investigations, Laredo Police Department and Border Patrol conducted the Organized Crime Drug Enforcement Task Forces (OCDETF) investigation with the assistance of Customs and Border Protection Air and Marine Operations and the Texas Department of Public Safety. OCDETF identifies, disrupts and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found on the Department of Justice’s OCDETF webpage. 

    This sentencing is also the result of the coordinated efforts of Joint Task Force Alpha (JTFA). Attorney General Merrick B. Garland established JTFA in June 2021 to marshal the investigative and prosecutorial resources of the Department of Justice, in partnership with the Department of Homeland Security (DHS), to combat the rise in prolific and dangerous human smuggling and trafficking groups operating in Mexico, Guatemala, El Salvador and Honduras. The initiative was expanded to Colombia and Panama to combat human smuggling in the Darién in June 2024. JTFA comprises detailees from U.S. attorneys’ offices along the southwest border including the Southern District of California, districts of Arizona and New Mexico and the Western and Southern Districts of Texas. Dedicated support is provided by numerous components of the Justice Department’s Criminal Division, led by the Human Rights and Special Prosecutions Section, and supported by the Office of Prosecutorial Development, Assistance and Training; Narcotic and Dangerous Drug Section; Money Laundering and Asset Recovery Section; Office of Enforcement Operations; Office of International Affairs; and the Violent Crime and Racketeering Section. JTFA also relies on substantial law enforcement investment from DHS, FBI, Drug Enforcement Adminstration and other partners. To date, JTFA’s work has resulted in over 325 domestic and international arrests of leaders, organizers and significant facilitators of human smuggling, more than 270 U.S. convictions, more than 210 significant jail sentences imposed and forfeitures of substantial assets.

    Assistant U.S. Attorney and JTFA detailee Jennifer Day prosecuted this case.

    MIL Security OSI –

  • MIL-OSI Security: Camden County Man Convicted at Trial of Conspiring to Commit Arson of a Bucks County Warehouse

    Source: Office of United States Attorneys

    PHILADELPHIA – United States Attorney Jacqueline C. Romero announced that Ramiz Duka, 61, of Cherry Hill, New Jersey, was convicted today at trial of conspiracy to commit arson.

    The facts at trial established that Duka recruited two men into a conspiracy to set fire to a warehouse located at 1388 Bridgewater Road in Bensalem, Pa., paying them $15,000 to do so. Over the course of several weeks, the three co-conspirators met and planned the arson.

    On December 10, 2022, one of the men recruited to the conspiracy by Duka set fire to the building. During fire suppression operations, one firefighter was seriously injured when a ladder collapsed. Damages from the fire totaled nearly $6 million.

    At sentencing, the defendant faces a mandatory minimum of five years of imprisonment, and a maximum possible sentence of 20 years in prison.

    The case was investigated by Bureau of Alcohol, Tobacco, Firearms and Explosives and the Bensalem Police Department, and is being prosecuted by Assistant United States Attorney Amanda R. Reinitz. Special thanks to the Bensalem Township Fire Rescue and the volunteer firefighter companies in and around Bensalem who responded to the fire.

    MIL Security OSI –

  • MIL-OSI Security: KC Man Sentenced to 15 Years for Fentanyl Conspiracy

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

    KANSAS CITY, Mo. – A Kansas City, Mo., man was sentenced in federal court today for his role in a conspiracy to distribute fentanyl, which resulted in the deaths of three persons.

    Luis Manuel Morales, 24, was sentenced by U.S. District Judge Roseann Ketchmark to 15 years in federal prison without parole.

    On May 8, 2024, Morales pleaded guilty to one count of conspiracy to distribute fentanyl and one count of conspiracy to commit money laundering.

    Morales admitted that he was a source of supply of fentanyl pills for co-defendant Tiger Dean Draggoo, 24, of Kansas City, Mo. On occasion, Draggoo also served as a source of supply of fentanyl pills for Morales. Morales also introduced Draggoo to additional sources of fentanyl pills.

    Morales sold at least 1,764 pills to Draggoo over 15 separate transactions from Jan. 17 to Oct. 29, 2022, for which he was paid $2,320 through Cash App and an additional amount in cash. Morales also purchased at least 100 fentanyl pills from Draggoo during this time period, for which he paid $750. In total, those 1,864 pills contained approximately 205 grams of fentanyl.

    Morales and Draggoo conspired to conceal and disguise the nature of the transfer of funds through Cash App by referring to the payments as “rent,” “food clothes,” “clothes,” “food and beer,” “food,” “apt rent,” “reimbursement for mechanic,” and “reimbursement car payment.”

    Morales was on probation at the time that he was supplying Dragoo with fentanyl pills, following his guilty plea in state court to attempted armed robbery after he and another person robbed a victim at gunpoint.

    Morales is the first defendant in this case to be sentenced. On Oct. 16, 2024, Draggoo pleaded guilty to his role in the fentanyl conspiracy and to three counts of distributing fentanyl resulting in death. Five additional defendants have pleaded guilty and await sentencing.

    This case is being prosecuted by Assistant U.S. Attorneys Brad K. Kavanaugh and Robert Smith. It was investigated by the Jackson County Drug Task Force, the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Belton, Mo., Police Department, the Raymore, Mo., Police Department, the Cass County, Mo., Sheriff’s Department, and the FBI.

    MIL Security OSI –

  • MIL-OSI Security: 56th Security Consultative Meeting Joint Communique

    Source: United States INDO PACIFIC COMMAND

    1. The 56th United States (U.S.)-Republic of Korea (ROK) Security Consultative Meeting (SCM) was held in Washington, D.C., on October 30, 2024. U.S. Secretary of Defense Lloyd J. Austin III and ROK Minister of National Defense Kim Yong Hyun led their respective delegations, which included senior defense and foreign affairs officials. On October 17, 2024, the U.S. Chairman of the Joint Chiefs of Staff, General Charles Q. Brown Jr., and ROK Chairman of the Joint Chiefs of Staff, Admiral Kim Myung-soo, presided over the 49th ROK-U.S. Military Committee Meeting (MCM).

    2. The Secretary and the Minister reaffirmed that the U.S.-ROK Alliance is the linchpin of peace, stability, and prosperity on the Korean Peninsula and beyond based on our shared values, including freedom, human rights, and the rule of law. The two leaders reviewed progress taken during 2024 to implement the “Defense Vision of the U.S.-ROK Alliance,” including enhancing extended deterrence against the Democratic People’s Republic of Korea (DPRK), modernizing Alliance capabilities based on science and technology cooperation, and strengthening solidarity and regional security cooperation with like-minded partners. They noted that the SCM has played a pivotal role in developing the ROK-U.S. Alliance into a Global Comprehensive Strategic Alliance and would continue maintaining its role as a core consultative mechanism to discuss the future development of the Alliance and provide strategic direction.  The two leaders also provided direction and guidance for continued progress in 2025 through a newly endorsed framework of U.S.-ROK bilateral defense consultative mechanisms that effectively and efficiently support Alliance objectives.  Both concurred that the current U.S.-ROK Alliance is stronger than ever and reaffirmed the two nations’ unwavering mutual commitment to a combined defense posture to defend the ROK as stated in the U.S-ROK Mutual Defense Treaty, and as reflected in the Washington Declaration. The two leaders also resolved to continue to strengthen the Alliances’ deterrence and defense posture against DPRK aggression and promote stability on the Korean Peninsula and throughout the region.

    3. The Secretary and the Minister reviewed the current security environment in and around the Korean Peninsula and discussed cooperative measures between the two nations. The Secretary and Minister expressed grave concern that the DPRK continues to modernize and diversify its nuclear and ballistic missile capabilities.  The two sides condemned the DPRK’s multiple missile launches, including ballistic missiles, its attempted launches of a space launch vehicle, and Russian-DPRK arms trade as clear violations of existing UN Security Council resolutions (UNSCRs).  They noted that these actions present profound security challenges to the international community and pose an increasingly serious threat to peace and stability on the Korean Peninsula and throughout the Indo-Pacific region, as well as in the Euro-Atlantic region.

    4. Secretary Austin reiterated the firm U.S. commitment to provide extended deterrence to the ROK, utilizing the full range of U.S. defense capabilities, including nuclear, conventional, missile defense, and advanced non-nuclear capabilities.  He noted that any nuclear attack by the DPRK against the United States or its Allies and partners is unacceptable and would result in the end of the Kim regime in line with the 2022 U.S. Nuclear Posture Review.  He highlighted the increased frequency and routinization of U.S. strategic asset deployments as committed to by President Biden in the Washington Declaration, and noted that these were tangible evidence of the U.S. commitment to defend the ROK.

    5. The two leaders highly appreciated the work of the Nuclear Consultative Group (NCG) inaugurated following the Washington Declaration.  Both applauded the completion on July 11, 2024, of “United States and Republic of Korea Guidelines for Nuclear Deterrence and Nuclear Operations on the Korean Peninsula,” which represents tremendous progress of the NCG commended and endorsed by President Biden and President Yoon. The two leaders affirmed that the completion of the Guidelines established the foundation for enhancing ROK-U.S. extended deterrence in an integrated manner.  Minister Kim noted that, through such progress, the ROK-U.S. Alliance was elevated to a nuclear-based alliance. The two leaders stressed that the principles and procedures contained in the Guidelines enable Alliance policy and military authorities to maintain an effective nuclear deterrence policy and posture.  The Secretary and Minister also welcomed the successful execution of the ROK-U.S. NCG table-top simulations and table-top exercises to enhance decision-making about nuclear deterrence and operations, and planning for potential nuclear contingencies on the Korean Peninsula.  Both sides affirmed that the full capabilities of the two countries would contribute to the Alliance’s combined deterrence and defense posture, and in this regard the Secretary welcomed the recent establishment of the ROK Strategic Command.  The Secretary and Minister directed the NCG to continue swift progress on NCG workstreams, including security protocols and expansion of information sharing; nuclear consultation processes in crises and contingencies; nuclear and strategic planning; ROK conventional support to U.S. nuclear operations in a contingency through conventional-nuclear integration (CNI); strategic communications; exercises, simulations, training, and investment activities; and risk reduction practices.  They noted that such efforts would be coordinated to strengthen capabilities of the ROK and United States to enhance U.S.-ROK extended deterrence cooperation in an integrated manner, and looked forward to receiving regular updates on NCG progress activities at future SCMs.

    6. The two sides pledged to continue coordinating efforts to deter DPRK’s nuclear threat with the Alliance’s overwhelming strength, while continuing to pursue efforts through sanctions and pressure to dissuade and delay DPRK’s nuclear development.  Both leaders stressed the importance of full implementation of UNSCRs by the entire international community, including the People’s Republic of China (PRC) and Russia, both permanent members of the UN Security Council.  The two leaders urged the international community to prevent and respond to DPRK’s sanctions evasion so that it abandons its illegal nuclear and ballistic missile development.  To this end, they decided to work closely with each other and the international community to combat the DPRK’s illegal and malicious cyber activities, cryptocurrency theft, overseas laborer dispatches, and ship-to-ship transfers.  The Secretary and Minister expressed concern that Russia-DPRK military cooperation, which has been intensified since the signing of a Comprehensive Strategic Partnership Treaty between the two, is deepening regional instability.  The two leaders made clear that military cooperation, including illegal arms trade and high-technology transfers between Russia and the DPRK, constitute a clear violation of UNSCRs, and called on Russia to uphold its commitments.  The two leaders also strongly condemned in the strongest terms with one voice that the military cooperation between Russia and the DPRK has expanded beyond transfers of military supplies to actual deployment of forces, and pledged to closely coordinate with the international community regarding this issue. 

    7. Both leaders reiterated the willingness of their Presidents to pursue dialogue and diplomacy, backed by a robust and credible deterrence and defense posture.  In this regard, Secretary Austin expressed support for the goals of the ROK’s Audacious Initiative and President Yoon’s vision of a free, peaceful, and prosperous unified Korean Peninsula, and welcomed President Yoon’s desire to open a path for serious and sustained diplomacy with the DPRK.  Both sides reaffirmed that they remain open to dialogue with the DPRK without preconditions and pledged to continue close coordination.

    8. The Minister and the Secretary noted concerns that the DPRK’s claims of “two hostile countries,” and activities near the Military Demarcation Line (MDL) could threaten peace and the Armistice on the Korean Peninsula.  The two leaders strongly condemned DPRK’s activities that raise tension on the Korean Peninsula, such as multiple unmanned aerial vehicle (UAV) infiltrations in the past, as well as the recent unilateral detonation of sections of inter-Korean roads and ongoing launches of “filth and trash balloons,” and urged the DPRK to immediately cease such activities.  The Secretary and the Minister concurred that the Armistice Agreement remains in effect as an international norm guaranteeing the stable security order on the Korean Peninsula, and that all parties of the Korean War should abide by it while it remains in force.  Both sides noted that the Northern Limit Line (NLL) has been an effective means of separating military forces and preventing military tension over the past 70 years, and urged the DPRK to respect the NLL.

    9. Secretary Austin and Minister Kim reaffirmed the role of the United Nations Command (UNC) in implementing, managing, and enforcing the Korean Armistice Agreement, deterring DPRK aggression, and coordinating a multinational, united response in case of contingencies on the Korean Peninsula.  They reaffirmed that UNC has successfully contributed to those aims for more than 70 years and continues to carry out its mission with the utmost respect for the sovereignty of ROK, the primary host nation.  Both sides welcomed the successful organization of the second ROK-UNC Member States Defense Ministerial Meeting and expressed their appreciation for UNC Member State contributions.  They welcomed the addition of Germany to UNC, and noted that peace and prosperity in the Indo-Pacific, including the Korean Peninsula, and Euro-Atlantic regions are increasingly connected.  The two leaders are determined to continue seeking the expanded participation in UNC by like-minded countries that share the values of the 1953 Washington Declaration, anchored in the principles of the UN Charter and mandates of relevant UNSCRs. Secretary Austin thanked Minister Kim for the ROK’s efforts to support the UNC’s role to maintain and enforce the Armistice Agreement, and to support the defense of the ROK against DPRK aggression.  In this regard, the Secretary and Minister both highlighted their desire to expand combined exercises, information sharing, and interoperability between the ROK, the Combined Forces Command, and UNC Member States.

    10. The Secretary and the Minister also noted the critical role that U.S. forces in the ROK have played for more than 70 years and reaffirmed that U.S. Forces Korea (USFK) continues to play a decisive role in preventing armed conflict on the Korean Peninsula, and in promoting peace and stability in Northeast Asia.  Secretary Austin reiterated the U.S. commitment to maintain current USFK force levels to defend the ROK. 

    11. The Secretary and Minister also reviewed the work of the various bilateral mechanisms such as the U.S.-Korea Integrated Defense Dialogue (KIDD).  They welcomed efforts to enhance information sharing through the U.S. Shared Early Warning System (SEWS) for strengthening the Alliance’s detection capabilities in response to advancing DPRK missile threats.  They also commended the work of the Counter-Missile Working Group (CMWG) and reviewed “the Joint Study on Alliance Comprehensive Counter-Missile Strategy” aimed at informing recommendations for counter-missile capabilities and posture of ROK and United States.  The Secretary and Minister also discussed concrete efforts to strengthen cooperation in space and cyber to robustly deter and defend against growing threats.  They endorsed efforts by the Space Cooperation Working Group (SCWG) to improve space situational awareness information sharing and interoperability, and acknowledged the need to expand ROK participation in exercises and training that can strengthen Alliance space capability and improve resilience against growing space threats.  In particular, the Secretary also welcomed ROK participation in the Joint Commercial Operations (JCO) cell to leverage space industry and strengthen allied space capabilities.  The Secretary and Minister also pledged to deepen cyber cooperation through the Cyber Cooperation Working Group and improve coordination through cyber defense exercises, such as Cyber Alliance and Cyber Flag.  Overall, both leaders expressed appreciation for the continuing cooperation to ensure the Alliance’s space, cyber, and counter-missile efforts to keep pace with the evolving threats posed by the DPRK.

    12. Noting the importance of science and technology (S&T) cooperation, the Secretary and Minister decided to establish the Defense Science and Technology Executive Committee (DSTEC) at the Vice-Minister-Under Secretary level within this year, to guide and prioritize Alliance defense S&T cooperation.  They noted priority areas for cooperation including autonomy, artificial intelligence, and crewed-uncrewed teaming are particularly vital to ensure the ROK is able to achieve the goals of Defense Innovation 4.0 and modernize Alliance capabilities.  Both leaders also welcomed future S&T cooperation related to quantum technologies, future-generation wireless communication technologies, and directed energy to ensure that S&T advancements enhance the combined capabilities of the Alliance.  This included efforts to identify potential areas of collaboration on AUKUS Pillar II.  The Secretary welcomed the Minister’s proposal to host a Defense Science and Technology conference in 2025, and concurred that the DSTEC should leverage this conference to baseline and prioritize Alliance defense S&T collaboration.

    13. The Secretary and Minister also reviewed efforts to improve the interoperability, interchangeability, and resilience of the U.S. and ROK defense industrial base.  They underscored the need to improve efficient and effective collaboration in the development, acquisition, fielding, logistics, sustainment, and maintenance of defense capabilities, and to ensure that S&T advancements are swiftly and seamlessly transitioned into acquisition and sustainment efforts.  Both leaders welcomed progress under the U.S. Regional Sustainment Framework (RSF) and welcomed ROK participation in a Maintenance, Repair, and Overhaul (MRO) pilot project on Air Force aviation maintenance.  The two leaders noted that this pilot project could lead to more bilateral co-sustainment opportunities, and also expand defense industrial collaboration with like-minded partners in the region in light of the ROK’s key role in the Partnership for Indo-Pacific Industrial Resilience (PIPIR) contact group.  The Secretary and Minister also noted with satisfaction the recent U.S. Navy contract with ROK shipyards to conduct MRO services for U.S. vessels, and underscored the potential to expand such work to improve the resilience of the Alliance’s posture in the Indo-Pacific Region.  The Secretary and Minister also recognized the need to improve reciprocal market access to deepen defense industrial cooperation and enhance supply chain resiliency, and are committed to accelerate cooperation with the goal of signing the Reciprocal Defense Procurement Agreement next year based on guidance from both Presidents.

    14. The Secretary and the Minister received and endorsed the MCM Report to the SCM presented by the U.S. Chairman of the Joint Chiefs of Staff, General Charles Q. Brown.  They welcomed the efforts of General Brown, Admiral Kim, and the MCM to enhance military plans, posture, training, exercises, and efforts to coordinate U.S.-ROK Combined Forces Command (CFC) activities and enhance military strength of the Alliance.  The Secretary and Minister concurred that the Freedom Shield 24 (FS 24) and Ulchi Freedom Shield 24 (UFS 24) exercises, which included realistic threats from the DPRK advancing nuclear, missile, space, and cyber threats, enhanced the Alliance’s crisis management and strengthened deterrence and defense capabilities.  In addition, they assessed that combined field training exercises (FTX), which were more extensive than the past year and conducted in land, maritime and air domains, enhanced interoperability and combined operations execution capabilities.  Based on such outcomes, both leaders decided to continue strengthening combined exercises and training in line with the rapidly changing security environment of the Korean Peninsula, and further decided that future combined exercises should include appropriate and realistic scenarios including responses to DPRK nuclear use.  The Secretary and the Minister also emphasized that ensuring consistent training opportunities for USFK is critical to maintaining a strong combined defense posture.  Secretary Austin noted the efforts of ROK Ministry of National Defense (MND) to improve the training conditions for U.S. and ROK forces and stressed the importance of maintaining close cooperation between USFK and MND for the joint use of ROK facilities and airspace for training. 

    15. Given the growth and diversification of the DPRK’s chemical, biological, radiological, and nuclear (CBRN) weapons and delivery systems, both leaders assessed efforts and works to ensure execution of Alliance missions under a CBRN-challenged environment.  In particular, they welcomed progress by the Countering Weapons of Mass Destruction Committee (CWMDC), including the expansion of information sharing required for nuclear elimination operations consistent with the Nuclear Weapons Non-proliferation Treaty (NPT), and the strengthening of cooperation to prevent proliferation of WMD in the Indo-Pacific region. Both leaders welcomed continued multinational counter-proliferation activities in the region amidst advancements of DPRK nuclear and missile program and intensification of arms trade between Russia and the DPRK following the Comprehensive Strategic Partnership Treaty.  Secretary Austin expressed appreciation for ROK contributions to various global security efforts such as Proliferation Security Initiative (PSI), and the Minister and the Secretary concurred on the importance of maintaining cooperative efforts to enforce relevant counter-proliferation UNSCRs.

    16. The Secretary and Minister also reviewed the progress and works to fulfill the Conditions-based Wartime Operational Control (OPCON) Transition Plan (COTP).  Both leaders reaffirmed that the conditions stated in the bilaterally approved COTP must be met before wartime OPCON is transitioned in a stable and systematic manner.  They received the results of the annual U.S.-ROK bilateral evaluation on the capabilities and systems for conditions #1 and #2 based on the bilaterally-approved assessment criteria and standards.  Both leaders affirmed that there was a significant progress of this year’s bilateral evaluation on readiness posture and capabilities, and pledged to continue close consultations between the ROK and the United States. for the establishment of the Future-CFC.  The Secretary and the Minister also reaffirmed that Future-CFC Full Operational Capability (FOC) Certification would be pursued when the results of the bilateral evaluation on the capabilities and systems of conditions #1 and #2 meet the mutually approved levels.  Regarding condition #3, the Secretary and the Minister decided to remain in close consultation for the assessment of the security environment.  Both sides pledged to support continued evaluation and progress in wartime OPCON transition implementation through annual MCMs and SCMs, and affirmed that the wartime OPCON transition would strengthen ROK and Alliance capabilities and the combined defense posture. 

    17. The Secretary and the Minister reviewed the regional security environment, and plans to expand U.S.-ROK security cooperation throughout the Indo-Pacific region to support maintaining a free and open Indo-Pacific that is connected, prosperous, secure, and resilient.  They also reaffirmed support for Association of Southeast Asian Nation (ASEAN) centrality and the ASEAN-led regional architecture as well as regional efforts of the Pacific Islands Forum.  In particular, the two leaders noted the importance of enhancing cooperation during the implementation of both the ROK and U.S. respective strategies for the Indo-Pacific region.  To this end, the Secretary and the Minister endorsed the “Regional Cooperation Framework for U.S.-ROK Alliance Contributions to Security in the Indo-Pacific,” and discussed priorities areas and partners to better respond to the complex regional and global security situation.  After reviewing the work of the ROK-U.S. Regional Cooperation Working Group (RCWG), both leaders reaffirmed their commitment to strengthen defense cooperation with ASEAN members and work together with the Pacific Island Countries to contribute to regional security.  The Secretary and the Minister also acknowledged the importance of preserving peace and stability in the Taiwan Strait as reflected in the April 2023 “Joint Statement in Commemoration of the 70th Anniversary of the Alliance between the United States of America and the Republic of Korea.”  

    18. The Secretary and the Minister reflected on the remarkable progress made during 2024 to fulfill the historic understandings at the Camp David Summit.  They welcomed the Memorandum of Cooperation on the Trilateral Security Cooperation Framework (TSCF), signed by the Ministers and the Secretary of the United States, ROK, and Japan in July, along with enhanced sharing of missile warning information and efforts to systematically conduct trilateral exercises, including the first execution of the multi-domain trilateral exercise FREEDOM EDGE.  The Secretary and the Minister reaffirmed their commitment to continuing to promote and expand trilateral security cooperation including senior-level policy consultations, trilateral exercises, information sharing, and defense exchange cooperation.

    19. The two sides also took the opportunity to reaffirm that expediting the relocation and return of U.S. military bases in the ROK is in the interests of both countries, and decided to work closely to ensure the timely return of the bases in accordance with the Status of Forces Agreement (SOFA) and related agreements.  The two leaders noted the significance of the complete construction of Yongsan Park, and pledged to expedite the remaining return of Yongsan Garrison.  The Minister and the Secretary also reaffirmed their mutual commitment to discuss the return of other U.S. military bases through regular consultations through SOFA channels to reach mutually acceptable outcomes in the future.

    20. Secretary Austin expressed his gratitude that the ROK is contributing toward ensuring a stable environment for U.S. Forces Korea.  The Secretary and Minister also welcomed the recent conclusion of consultations related to a 12th Special Measures Agreement (SMA), and concurred that it would greatly contribute to the strengthening of the U.S.-ROK combined defense posture.

    21. Secretary Austin and Minister Kim affirmed that the discussions during the 56th SCM and the 49th MCM contributed to strengthening the U.S.-ROK Alliance with a vision toward the further development of a truly global alliance.  The two leaders commended the U.S. and ROK military and civilian personnel that worked to strengthen the bond of the Alliance, and expressed appreciation for their shared commitment and sacrifice.  Both sides expect to hold the 57th SCM and 50th MCM in Seoul at a mutually convenient time in 2025.

    MIL Security OSI –

  • MIL-OSI Security: Broken Bow Resident Sentenced To Four Years For Child Abuse

    Source: Office of United States Attorneys

    MUSKOGEE, OKLAHOMA – The United States Attorney’s Office for the Eastern District of Oklahoma announced that Kaira Leigh Wilson, age 35, of Broken Bow, Oklahoma, was sentenced to 48 months in prison for one count of Child Abuse in Indian Country.

    The charges arose from an investigation by the Federal Bureau of Investigation and the Idabel Police Department.

    On January 11, 2024, Wilson, was found guilty by a federal jury at trial of the charge.  According to investigators, on March 12, 2020, law enforcement responding to a 911 call at an Idabel residence discovered an unresponsive 6-month-old infant.  EMS responders began life-saving measures and rushed the infant to the hospital for acute respiratory failure.  Medical professionals successfully resuscitated and stabilized the infant.  Medical scans revealed fresh injuries consistent with non-accidental trauma, including a subdural hematoma and extensive retinal hemorrhages.  The infant also sustained vision loss in one eye.  A subsequent investigation revealed that prior to the 911 call, a witness in the residence observed Wilson throw the infant against a wall.

    The crime occurred in McCurtain County, within the boundaries of the Choctaw Nation Reservation of Oklahoma, in the Eastern District of Oklahoma.

    “I commend the work of the first responders and medical staff in diagnosing and treating the defenseless victim and want to thank the investigators for tirelessly working to determine how the injuries were inflicted,” said United States Attorney Christopher J. Wilson.  “I also applaud the Assistant United States Attorneys who effectively presented the case at trial and compassionately advocated for the victim and the victim’s family at the sentencing hearing.  We recognize the discretion of the Court in sentencing and respect the decision.”

    The Honorable John C. Coughenour, Senior U.S. District Judge in the United States District Court for the Western District of Washington, sitting by assignment, presided over the hearing in Muskogee.  Wilson will remain in the custody of the U.S. Marshal pending transportation to a designated United States Bureau of Prisons facility to serve a non-paroleable sentence of incarceration.

    Assistant U.S. Attorneys Morgan Muzljakovich and Sarah McAmis represented the United States.

    MIL Security OSI –

  • MIL-OSI Security: Rapid City Man Arraigned on Federal Charges Following Arrest for Large Scale Distribution and Possession of Child Pornography

    Source: Office of United States Attorneys

    RAPID CITY – United States Attorney Alison J. Ramsdell announced that the United States has brought federal charges against a Rapid City, South Dakota, man for Distribution of Child Pornography and Possession of Child Pornography.

    Lewis Patterson III, age 39, was arraigned before U.S. Magistrate Judge Daneta Wollmann on October 30, 2024. Patterson pleaded not guilty to the Criminal Complaint.

    If convicted of distributing child pornography, Patterson faces a mandatory minimum of five years up to 20 years in prison, and a fine of up $250,000. He faces a mandatory minimum of five years up to life of supervised release. Restitution is mandatory. Patterson also faces up to 10 years in prison if convicted of possessing child pornography.

    The charges are merely accusations and Patterson is presumed innocent until and unless proven guilty.

    Law enforcement’s initial investigation has established that since at least March of 2024, Patterson personally distributed hundreds of thousands of images and videos of children being sexually abused across multiple internet-based applications, platforms, and encrypted messaging services. Patterson also utilized artificial intelligence and cryptocurrency to profit from his child pornography distribution scheme.  

    “The frequency with which criminals target and sexually exploit children is terrifying,” said U.S. Attorney Alison J. Ramsdell. “We are fortunate to have federal, state, and local law enforcement agencies that regularly collaborate through the Internet Crimes Against Children Taskforce to expose this nefarious activity. The U.S. Attorney’s Office will continue to prioritize the federal prosecution of anyone looking to use the Internet to exploit children.”

    In response to the arrest, South Dakota Attorney General Marty Jackley stated, “Cooperation by law enforcement resulted in this successful investigation. As Attorney General, I will continue to use every tool available to protect children and hold accountable those harming children.”

    The investigation is being led by the South Dakota Internet Crimes Against Children Task Force, consisting of members of the South Dakota Division of Criminal Investigation, Rapid City Police Department, and the Pennington County Sheriff’s office, partnered with Homeland Security Investigations. Assistant U.S. Attorney Heather Knox is prosecuting the case. 

    Patterson was detained following his arraignment and is in the custody of the U.S. Marshals Service. A detention hearing is scheduled for November 1, 2024, at 10:00 a.m.

     

    MIL Security OSI –

  • MIL-OSI Security: Bristol Virginia Man Convicted In Federal Court Of Carjacking And Firearms Charges

    Source: Office of United States Attorneys

    GREENEVILLE, Tenn. – On October 30, 2024, following a three-day trial in the United States District Court in Greeneville, Tennessee, a jury convicted Charles Nile Mixon, 48, of Bristol, Virginia, of Carjacking in violation of 21 U.S.C. § 2119; Using and Brandishing a Firearm During and in Relation to a Crime of Violence, in violation of 18 U.S.C. § 924(c)(1)(A)(ii); Possession of a Firearm by a Convicted Felon in violation of 18. U.S.C. § 922(g)(1), and Possession of a Stolen Firearm, in violation of 18 U.S.C. § 922(j).

    Sentencing is set for March 6, 2024, at 3:00 p.m. before the Honorable Clifton L Corker, United States District Judge, in United States District Court for the Eastern District of Tennessee at Greeneville. Mixon faces a minimum mandatory sentence of twenty-two years in federal prison.

    According to witnesses, court documents, and evidence presented at trial, in the early morning hours of May 24, 2023, Mixon carjacked a victim at gunpoint in the parking lot of a Taco Bell restaurant in Bristol, Tennessee.  Mixon forced the victim to give him the keys to the vehicle and then briefly held the victim at gunpoint inside the car.  As Mixon fled the restaurant’s parking lot with the victim in the passenger seat, the victim jumped from the moving car to escape.  Within minutes, the Bristol Tennessee Police Department located Mixon in the stolen car just as he arrived at the Tennessee/Virginia state line and attempted to stop him.  Mixon refused to stop and fled into Virginia.  Evidence showed that he later dropped the victim’s car at a gas station in Kingsport, Tennessee, before stealing an unattended vehicle at the gas station.

    On May 25, 2023, Mixon woke up a relative to inform them that he had taken the relatives’ firearm and used it to carjack the victim at the Taco Bell.  The relative contacted law enforcement who responded.  Mixon fled, but was arrested after a brief chase from Bristol, Virginia, into Bristol, Tennessee.  A search of Mixon at the time of his arrest recovered the stolen firearm.

    U.S. Attorney Francis M. Hamilton, III of the Eastern District of Tennessee made the announcement.

    The criminal indictment was the result of an investigation by the Bristol Tennessee Police Department and the Bureau of Alcohol, Tobacco, Firearms and Explosives (“ATF”).

    Senior Officer Jared Patrick with the Bristol Tennessee Police Department led the investigation, along with Special Agent Jamie Jenkins of ATF.

    Assistant U.S. Attorneys B. Todd Martin and Emily Swecker represented the United States.

    This case was brought as part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and 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 communicates, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring results.

                                                                                                                    ###

    MIL Security OSI –

  • MIL-OSI New Zealand: Road Closed, Vaughan Road, Owhata

    Source: New Zealand Police (District News)

    Vaughan Road, Owhata is closed following a serious crash this morning.

    Emergency services are in attendance of a two-vehicle crash on Vaughan Road, at around 11.35am.

    Initial reports suggest there are serious injuries.

    The road is closed between Tennyson Drive and Allen Mills Road.

    Motorists are advised to follow diversions and expect delays.

    ENDS

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Investigation launched after firearms incidents

    Source: New Zealand Police (National News)

    An investigation has been launched in the Hawke’s Bay following a number of firearms incidents in the last 24 hours.

    Police have responded to four incidents – the first one at 3pm yesterday, and the most recent at 4am today.

    Three of the incidents involved a firearm allegedly being discharged towards an address – two in Flaxmere, and one in Tamatea.

    The fourth incident was an altercation in Ahuriri about 3.30pm yesterday, involving the occupants of two vehicles, where the parties have presented baseball bats and other weapons at each other. There were no reports of any injuries.

    Work is underway to determine if these incidents are linked.

    Senior Sergeant Caroline Martin says there is no place for this violence in our communities, and Police are working hard to hold these offenders to account.

    “We know incidents like this are distressing for the wider community, and we will have a visible presence in the Hawke’s Bay over the coming days while we investigate.

    “Anyone who sees anything of concern is urged to please let us know immediately via 111 so we can respond accordingly.”

    You can also anonymously report anything of concern via Crimestoppers on 0800 555 111.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI USA: Attorney General Bonta and Governor Newsom Issue Statements on Appellate Victory Against Huntington Beach’s Federal Challenge to State Housing Laws

    Source: US State of California

    Wednesday, October 30, 2024

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND — California Attorney General Rob Bonta and Governor Gavin Newsom today issued the following statements in response to the unanimous decision by a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit affirming the district court’s dismissal of the City of Huntington Beach’s federal lawsuit challenging the constitutionality of state housing laws: 

    “I am pleased that yet another court has emphatically rejected Huntington Beach’s attempt to exempt itself from state housing laws,” said Attorney General Bonta. “While the City has been wasting the public’s time and money pursuing this meritless lawsuit, its neighboring communities — along with every Californian struggling to keep a roof over their heads or wondering where they’re going to sleep tonight — need Huntington Beach to step up and adopt a housing plan without further delay. My office will continue pursuing all remedies in the state case against the City, where the court has already determined the City violated the state’s Housing Element Law.”   

    “Today, yet another court has slapped down Huntington Beach’s cynical attempt to prevent the state from enforcing our housing laws,” said Governor Newsom. “Huntington Beach officials’ continued efforts to advance plainly unlawful NIMBY policies are failing their own citizens — by wasting time and taxpayer dollars that could be used to create much-needed housing. No more excuses — every city must follow state law and do its part to build more housing.”

    A copy of the decision can be found here.

    # # #

    MIL OSI USA News –

  • MIL-OSI Security: U.S.-Republic of Korea Security Consultative Meeting and 2+2 Ministerial Dialogue Fact Sheet

    Source: United States INDO PACIFIC COMMAND

    During the 56th U.S.-Republic of Korea (ROK) Security Consultative Meeting (SCM) on October 30, 2024, U.S. Secretary of Defense Lloyd J. Austin III and ROK Minister of National Defense Kim Yong Hyun advanced numerous initiatives that deepen our extended deterrence cooperation, modernize our alliance capabilities, and strengthen our contributions to regional security. 

    On October 31, Secretary Austin and Minister Kim will join U.S. Secretary of State Antony Blinken and ROK Minister of Foreign Affairs Cho Tae-yul for a Foreign and Defense Ministers’ Meeting (2+2 Meeting) to align our diplomatic and defense efforts, ensuring that bilateral activities are synchronized to advance our Alliance’s shared values and interests.

    ENHANCING EXTENDED DETERRENCE

    The United States reaffirmed that its extended deterrence commitment to the ROK is ironclad. The United States and the ROK are enhancing our combined deterrence and response posture by:

    • Enhancing extended deterrence cooperation through Nuclear Consultative Group (NCG) workstreams that enable integrated planning, decision-making, and execution of conventional-nuclear operations, as laid out in the “Guidelines for Nuclear Deterrence and Nuclear Operations on the Korean Peninsula.”
    • Conducting large-scale field training exercises to maintain a strong combined defense posture, such as Freedom Shield and Ulchi Freedom Shield, and enhance the Alliance’s crisis management capabilities and strengthen deterrence.

    MODERNIZING ALLIANCE CAPABILITIES

    The United States and the ROK are modernizing our capabilities to strengthen the combined defense architecture of the Alliance, empowering us to work together more seamlessly by:

    • Enhancing combined abilities to deter and respond to DPRK missiles by upgrading Shared Early Warning Systems and missile defense capabilities against advanced and novel threats.
    • Expanding science and technology cooperation through the new Defense Science and Technology Executive Committee (DSTEC) to guide defense innovation and accelerate the incorporation of cutting-edge technologies in areas such as autonomous systems, artificial intelligence, and quantum technologies.
    • Deepening industrial collaboration and supply chain resiliency by strengthening and connecting our defense industrial bases through our participation in the Partnership for Indo-Pacific Industrial Resilience (PIPIR) and maintenance, repair, and overhaul (MRO) activities, allowing our forces to field the most modern, interoperable weapons systems.

    STRENGTHENING REGIONAL SECURITY COOPERATION

    The United States and the ROK resolved to jointly strengthen activities with allies and partners in the Indo-Pacific by:

    • Launching a new Regional Cooperation Framework to better coordinate efforts to advance our shared vision for a free and open Indo-Pacific. Areas of focus under this framework include maritime security, multilateral exercises, capacity building, defense industrial cooperation, technical cooperation, and information sharing.
    • Deepening U.S.-ROK-Japan trilateral security cooperation through a Trilateral Security Cooperation Framework that institutionalizes high-level dialogues, missile warning data sharing, and an increased scope, scale, and frequency of trilateral multi-domain exercises.

    MIL Security OSI –

  • MIL-OSI Security: Regional Cooperation Framework for U.S.-ROK Alliance Contributions to Security in the Indo-Pacific

    Source: United States INDO PACIFIC COMMAND

    The United States (U.S.) – Republic of Korea (ROK) Alliance remains the linchpin of peace and security not only on the Korean Peninsula but also in the Indo-Pacific region.

    Today the U.S. Department of Defense and ROK Ministry of National Defense announce the following Regional Cooperation Framework for U.S.-ROK Alliance Contributions to Security in the Indo-Pacific to facilitate deeper collaboration between our two countries and to demonstrate our commitment to maintaining a free, peaceful, and prosperous Indo-Pacific region.

    Our two nations share fundamentally common interests and values that underpin regional security efforts, such as respect for democratic governance, the rule of law, territorial integrity, and sovereignty. We seek to better align our efforts in the Indo-Pacific to help realize the vision of a global comprehensive strategic alliance and to advance the security and prosperity of our people, the region, and the globe.

    This framework builds upon our respective strategies for the region – the U.S. Indo-Pacific Strategy, and the ROK Strategy for a Free, Peaceful, and Prosperous Indo-Pacific region – to help develop and maintain a sustainable, secure, and resilient regional order. Our cooperative efforts also draw upon the 2023 Defense Vision of the U.S.-ROK Alliance, which identifies strengthening solidarity and regional security cooperation with like-minded partners as one of our key bilateral priorities, and are intended to support the Republic of Korea’s goal of becoming a “Global Pivotal State.” 

    To advance this cooperation, the U.S. Secretary of Defense and the ROK Minister of National Defense endorse the following general principles and seek to chart a path forward that ensures our common national interest:

    • Our cooperative efforts should seek to create a region that is more connected, prosperous, secure, and resilient. We intend to utilize approaches and pursue initiatives that are based on mutual confidence, trust, reciprocity, and respect for relevant international laws, standards, and norms.
    • Both the U.S. and ROK recognize that our national interests, as well as those of our bilateral Alliance, can be advanced by firmly upholding and strengthening the rules-based order in the Indo-Pacific region; this includes the freedoms of navigation and overflight, and other uses of the sea guaranteed to all nations under international law.
    • Both sides reaffirm their strong support for Association of Southeast Asian Nations (ASEAN) centrality, unity, and the ASEAN-led regional architecture; we commit to partnering closely with ASEAN to advance implementation of the ASEAN Outlook on the Indo-Pacific in defense-related areas; we are also determined to work closely with Pacific Island countries and the Pacific Islands Forum to build capacity in the region.
    • Both sides intend to pursue initiatives and activities together that more comprehensively build partner capacity, bolster maritime security, and foster collaboration and interoperability with like-minded countries in the region.
    • Through increased participation in multilateral exercises, both sides are determined to enhance the readiness, capability, and resilience of combined forces to be prepared to respond to evolving and complex threats in the region.
    • To expand comprehensive security cooperation, the U.S. and ROK intend to pursue initiatives that strengthen collaboration in the areas of non-proliferation, counter-terrorism, humanitarian aid and disaster relief, climate change, and the prevention of infectious diseases as well as empower regional organizations to contribute to greater regional stability; both sides also intend to increase information sharing with like-minded countries to better address challenges in the region.
    • In the area of defense exports and defense industrial cooperation, both sides intend to work together on issues of mutual interest including: sharing best practices on export controls, foreign direct investment, and technology security; exchanging information on expert planning and decision-making; and cooperating effectively to secure supply chains.
    • Both sides are also determined to work together to increase information sharing in the cyber domain to enhance regional cybersecurity practices and situational awareness, and build cyber resilience to defend against globally-expanding malicious cyber threats.
    • Finally, both sides also pledge to continue using established forums such as the Regional Cooperation Working Group (RCWG), and other existing bilateral mechanisms, to develop and sustain dialogue between the U.S. and ROK on defense cooperation in priority areas identified in both the government and industrial sectors. The mechanisms will report to the annual Security Consultative Meeting (SCM) through the Korea-U.S. Integrated Defense Dialogue (KIDD).

    To implement this framework, both sides intend to present concepts for cooperative projects through government channels and, where appropriate, facilitate business-to-business connections that may advance opportunities for collaboration and cooperation. These projects should complement other efforts being undertaken by other like-minded countries in the region and seek to effectively utilize public sector resources.

    Initiatives and projects under this framework will focus on the following areas, which both sides have identified as priority areas for cooperation, with a particular focus on cooperation with ASEAN and Pacific Island countries:

    Maritime Security 

    Multilateral Exercises

    Capacity Building 

    Defense Exports and Defense Industrial Cooperation

    Technical Cooperation (e.g., cyber security and emerging capabilities)

    Information Sharing

    Both sides intend to identify points of contact responsible for coordinating engagements and tracking the implementation of cooperative projects decided upon under this framework. The lead points of contact should review potential opportunities and prioritize actions, with the goal of presenting at least one project or initiative each year before the SCM.

    MIL Security OSI –

  • MIL-OSI: Prospera Energy Inc. Announces Change of Auditor

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 30, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6A: FRA) (“Prospera” or the “Corporation“)

    Prospera. announces that it has changed its auditors from Crowe MacKay LLP (the “Former Auditor”) to MNP LLP (the “Successor Auditor”) effective October 8, 2024. There were no reservations in the Former Auditor’s audit report for any financial period during which the Former Auditor was the Corporation’s auditor. There are no ‘reportable events’ (as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) between the Corporation and the Former Auditor.

    In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Corporation’s Audit Committee and filed on SEDAR accordingly.

    About Prospera

    Prospera is a publicly traded energy company based in Western Canada, specializing in the exploration, development, and production of crude oil and natural gas. Prospera is primarily focused on optimizing hydrocarbon recovery from legacy fields through environmentally safe and efficient reservoir development methods and production practices. Prospera was restructured in the first quarter of 2021 to become profitable and in compliance with regulatory, environmental, municipal, landowner, and service stakeholders.

    The company is in the midst of a three-stage restructuring process aimed at prioritizing cost effective operations while appreciating production capacity and reducing liabilities. Prospera has completed the first phase by optimizing low hanging opportunities, attaining free cash flow, while bringing operation to safe operating condition, all while remaining compliant. Currently, Prospera is executing phase II of the restructuring process, the horizontal transformation intended to accelerate growth and capture the significant oil in place (400 million bbls). These horizontal wells allow PEI to reduce its environmental and surface footprint by eliminating the numerous vertical well leases along the lateral path. Phase III of Prospera’s corporate redevelopment strategy is to optimize recovery through EOR applications. Furthermore, Prospera will pursue its acquisition strategy to diversify its product mix and expand its core area. Its goal is to attain 50% light oil, 40% heavy oil and 10% gas.

    The Corporation continues to apply efforts to minimize its environmental footprint. Also, efforts to reduce and eventually eliminate emissions, alongside pursuing innovative ESG methods to enhance API quality, thereby achieving higher margins and eliminating the need for diluents.

    For Further Information:
    Shawn Mehler, PR
    Email: investors@prosperaenergy.com
    Website: www.prosperaenergy.com

    FORWARD-LOOKING STATEMENTS

    This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    The MIL Network –

  • MIL-OSI USA: Manchin Speaks At West Virginia Broadcasters Association Meeting

    US Senate News:

    Source: United States Senator for West Virginia Joe Manchin
    October 30, 2024
    Charleston, WV – Today, U.S. Senator Joe Manchin (I-WV) spoke at the West Virginia Broadcasters Association (WVBA) meeting in Charleston. WVBA is a member-driven trade association that provides critical support to stations throughout West Virginia.
    “The West Virginia Broadcasters Association is an incredibly important organization that has been representing and serving West Virginia commercial radio and television stations since 1946,” said Senator Manchin. “In my time in office, I have strongly supported and advocated for several critical pieces of legislation to ensure people across the Mountain State are connected to commercial radio and television. It’s been an honor of a lifetime to serve you all and I look forward to hearing more about all the good work being done at the WVBA.”
    Photos from the event are available here.

    MIL OSI USA News –

  • MIL-OSI Russia: IMF Releases the 2024 Financial Access Survey Results

    Source: IMF – News in Russian

    October 30, 2024

    Washington, DC: The International Monetary Fund (IMF) released the results of the 2024 Financial Access Survey (FAS), marking the 15th anniversary of the FAS. The report “FAS: 2024 Highlights,” published along with the data release, summarizes the key trends on access to and usage of financial services over the past few years. Established in 2009, the FAS has played a crucial role in providing essential data to develop and evaluate financial inclusion policies, a topic of key relevance for the IMF, as it fosters broader economic participation, reduces inequalities, promotes inclusive growth, and aids in achieving the Sustainable Development Goals (SDGs). The FAS stands as the most comprehensive annual supply-side database on financial inclusion, boasting nearly complete global coverage. It covers 192 economies, featuring 121 series and 70 normalized indicators for global comparison. The FAS dataset spans from 2004 to 2023, and it continues to evolve in line with financial innovations such as the provision of digital financial services and the increasing demand for gender-disaggregated data.

    Digital Financial Services Continue to Make Gains

    There has been a substantial increase in the usage of non-traditional financial services, including mobile and internet banking, with mobile money being particularly important in Sub-Saharan Africa. Yet, usage of traditional financial services remains essential in many economies. For example, from 2013 to 2019, deposit accounts per 100 adults increased by over 40% in emerging and developing Europe and Sub-Saharan Africa. The growth of digital financial services has also led to an increase in non-traditional access points, such as retail and mobile money agents, while traditional access methods like ATMs and bank branches have seen a decline, especially since the COVID-19 pandemic (Figure).

    Traditional and Non-traditional Access Points in Recent Years (2019 to 2023)

    (Number of Access Points Per 100,000 Adults)
     

    Source: Financial Access Survey and IMF staff calculations.

    Notes: These charts show the weighted average by region for economies whose data are available for 2019–2023. Country coverage differs across indicators depending on data availability. While three economies from Latin America and the Caribbean (El Salvador, Colombia, and Haiti) report data on number of registered mobile money agents, none provide data for all five years covered in this chart and are therefore not included.

    Microfinance Institutions Have Continued Supporting Economically Marginalized Groups

    Financing by microfinance institutions has shown resilience amid recent economic shocks. In various economies, borrowing from microfinance institutions increased, as indicated by the growth in the number of accounts and outstanding loans. While commercial banks usually provide larger loan amounts, microfinance institutions serve a broader client base, as evidenced by the larger number of loan accounts compared to those at commercial banks.

    Challenges in Narrowing Gender Gaps Remain 

    Despite the benefits of incorporating women into the financial system, substantial gender gaps in the usage of financial services persist. These gaps are particularly evident in the usage of deposit and loan accounts. Globally, women’s outstanding deposit amounts as percentage of men’s stand at 64 percent, while their outstanding loan balances account for only 46 percent of men’s. In terms of regional differences, advanced economies demonstrate a more gender-equal financial inclusion compared to emerging economies. Among the latter, emerging and developing Europe and Latin America and the Caribbean show relatively higher gender equality.

    Lending to SMEs Declined

    Data from FAS indicate a decrease in the outstanding amounts of SME loans from 2021 to 2023 in most economies that reported this information. Although several supportive policies were introduced during the COVID-19 Pandemic, subsequent developments, including tighter financial conditions and geopolitical tensions, may have contributed to the decline in SME loans.

    Additional Enhancements to the FAS are Being Tested

    To ensure the FAS data remain vital for informing financial inclusion policy, a pilot exercise is underway to assess the potential for enhancing the FAS. This includes incorporating additional gender disaggregation, information on new fintech services, and important factors such as loan pricing and risks, especially for underserved populations.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/30/pr-24400-imf-releases-the-2024-financial-access-survey-results

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Australia: New funding to be delivered for remote airstrip upgrades

    Source: Australian Ministers 1

    Organisations and community groups who manage airports and airstrips across remote Australia will be able to apply for new funding to deliver critical upgrades from Monday, with $25 million available under a new round of funding.

    The highly successful Remote Airstrip Upgrade (RAU) Program provides funding to improve the safety and accessibility of aerodromes in remote and very remote areas of Australia. 

    Remote airstrips provide critical access for Australians living in the far reaches of our country by connecting them with services in major regional centres, but they’re also vital to the delivery of urgent supplies and facilitation of life-saving emergency flights.

    Upgrade works under the Program may include improving all-weather capabilities such as sealing or resealing runways to ensure air operators can land safely and without damaging their aircraft, or lighting to allow aircraft to land at night.

    This latest grant funding will also encourage successful applicants to use the allocated funding to conduct safety training for key operational personnel.

    The Albanese Government has committed $50 million in the 2024-25 Budget to deliver an additional two rounds of the RAU Program.

    Applications for Round 11 are set to open from Monday, 4 November for grants of between $5,000 and $4 million covering 50 per cent of eligible costs, or up to 100 per cent for Indigenous-owned and/or operated aerodromes that meet certain requirements.

    Following feedback from previous rounds of the RAU Program, Round 11 has been expanded to support improved access to air services for people with disability. This may include items such as ramps, signage or aircraft boarding facilities.

    These works can be undertaken as a standalone project or in conjunction with other safety and access works at the airport.

    More information on the RAU Program, including Round 11 Guidelines, will be available at business.gov.au from Monday 4 November.

    Quotes attributable to Assistant Minister for Regional Development and Senator for Queensland, Anthony Chisholm:

    “Safe and accessible airstrips are critical to safeguarding the quality of life in many remote and very remote communities across Australia, as they keep essential services running and allow businesses to grow and thrive. 

    “Improving the resilience of these aerodromes will also mean people who are based in remote areas can continue to live, do business and retire there, knowing they will have access to the emergency and other services needed in any stage of life.

    “As remote communities across Northern Australia head into another wet season and bushfire warnings become more frequent across the country, I urge aerodrome owners and operators to take a look at the guidelines and consider applying to make their priority upgrades a reality.

    “The Aviation White Paper backed this Program due to its support for some of our most vulnerable who reside in these remote communities, so I’m pleased to hear that measures allowing people with a disability to access air services have been prioritised under the RAU.”

    MIL OSI News –

  • MIL-OSI Australia: Batchelor Search and Rescue Exercise Enhances NT Police Capabilities

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Search and Rescue Section (SRS) conducted an intensive search and rescue exercise (SAREX) in Batchelor last week, focusing on testing and refining the agency’s land search and rescue response capabilities. The exercise showcased the effectiveness of deploying K9 units and other specialist police assets in challenging field conditions, vital for enhancing operational readiness across the Territory.

    The exercise revolved around a simulated missing person report, where the search began after an abandoned vehicle was discovered on a remote dirt road in Batchelor. The scenario required the missing person, who had wandered a considerable distance from the vehicle, to be located by the Northern Territory (NT) Search and Rescue K9 Unit, an external agency working in collaboration with our NT Police Dog Operations Unit. Various specialist sections of NT Police were deployed to establish a field search headquarters, coordinate search efforts, and safely recover the missing person according to the rescue plan.

    As part of NT Police’s responsibility under the Intergovernmental Agreement, the SRS coordinates both marine and land search and rescue operations. This recent training exercise provided a critical opportunity to assess the deployability of police SAR assets to regional and remote areas, demonstrating the team’s ability to respond to emergencies across varied and demanding terrains.

    Acting Sergeant Chris Grotherr explained, “The main purpose of this SAREX was to test our Land SAR response capabilities, particularly the deployment of K9 assets in the field, alongside other specialist resources, such as the Mounted Unit, motorcycles, ATVs, and drone capability. This allows us to identify gaps in our capabilities and find ways to bridge them, ensuring we are constantly improving our readiness for future operations.”

    The exercise also offered vital training for SRS and other specialist police sections, helping them understand local conditions at this time of year and the specific challenges associated with the terrain in the Batchelor region.

    In the 12 months ending June 2024, the SRS responded to over 80 search and rescue incidents across the NT, assisting 93 people and saving 10 lives. These successes highlight the importance of ongoing training and multi-agency collaboration. Regular exercises like the one in Batchelor help the team maintain proficiency in operating specialist equipment and assets, while identifying any maintenance or serviceability issues that need to be addressed.

    “Operating specialist equipment in real-world conditions is key to maintaining our proficiency and ensuring all assets are mission-ready,” A/Sgt Grotherr added. “The insights gained from this exercise are invaluable in fine-tuning our response strategies moving forward.”

    The NT Police are dedicated to maintaining a high standard of search and rescue readiness, working continuously to enhance their operations and ensure the safety of all Territorians, no matter the challenge or location.

    Media Note: Imagery, including interview footage, overlays, and still shots, is available upon request.

    MIL OSI News –

  • MIL-OSI Europe: Minister Calleary announces key milestone in the implementation of the EU regulation on AI

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    31st October 2024

    Minister of State for Trade Promotion, Digital and Company Regulation, Dara Calleary TD, today published a list of nine national public authorities responsible for protecting fundamental rights under the EU Artificial Intelligence (AI) Act.

    These authorities will get additional powers under the AI Act to facilitate them in carrying out their current responsibilities for protecting fundamental rights in circumstances where use of AI poses a high risk to those rights. For example, the authorities will have the power to access documentation that developers and deployers of AI systems are required to hold under the AI Act.

    This action fulfils Ireland’s first obligation for the national implementation of the AI Act.

    The list of authorities is as follows:

    • An Coimisiún Toghcháin
    • Coimisiún na Meán
    • Data Protection Commission
    • Environmental Protection Agency
    • Financial Services & Pensions Ombudsman
    • Irish Human Rights & Equality Commission
    • Ombudsman
    • Ombudsman for Children
    • Ombudsman for the Defence Forces 

    Minister Calleary commented,

    “AI can provide many benefits for our society and our economy. However, AI also comes with certain risks. The EU AI Act will have a critical role in addressing these risks and in promoting human-centric, trustworthy AI. It will establish a regulatory framework for the development and use of AI systems to provide a high level of protection to people’s health, safety, and fundamental rights.

    “The government is committed to comprehensive and effective implementation of the AI Act and the publication of this list is an important first step in this regard. The additional powers these authorities will acquire under the AI Act will support them in protecting fundamental rights in circumstances where certain high-risk AI systems are used.”

    This list will be notified to the European Commission. It will be kept under review by the Minister and can be updated at any time to reflect future changes in the national authorities.

    Note to Editors

    The pioneering EU Artificial Intelligence (AI) Act, which entered into force on 2nd August 2024, provides a harmonised regulatory framework for AI systems developed or deployed in the EU. It is the most comprehensive such framework in the world. It is designed to provide a high level of protection to people’s health, safety, and fundamental rights and to promote the adoption of human-centric, trustworthy AI. The Act adopts a risk-based approach to regulation and focuses on applications of AI systems to ensure that its regulatory provisions are targeted and proportionate. Its provisions will apply, in a phased manner, over the 36-month period from entry into force.

    The AI Act is an EU Regulation and consequently has direct effect in all Member States, however, it places obligations on Member States to provide for implementation and enforcement at national level.

    The first obligation on Member States under the Act is to identify national public authorities which supervise or enforce the respect of obligations under Union law protecting fundamental rights, including the right to non-discrimination, in relation to certain high-risk uses of AI systems, specified the Act. Under the Act, fundamental rights are those enshrined in the EU Charter of Fundamental Rights, including democracy, the rule of law and environmental protection. This list of authorities must be published, and notified to the European Commission, by 2 November 2024.

    The identified authorities will not be competent authorities for the Act, nor will any obligations, responsibilities or tasks be assigned to them. Rather, identified authorities will get additional powers to facilitate them in carrying out their current mandates in circumstances involving the use of AI systems. These powers will apply from 2 August 2026.

    ENDS

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    MIL OSI Europe News –

  • MIL-OSI: Sound Financial Bancorp, Inc. Q3 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Oct. 30, 2024 (GLOBE NEWSWIRE) — Sound Financial Bancorp, Inc. (the “Company”) (Nasdaq: SFBC), the holding company for Sound Community Bank (the “Bank”), today reported net income of $1.2 million for the quarter ended September 30, 2024, or $0.45 diluted earnings per share, as compared to net income of $795 thousand, or $0.31 diluted earnings per share, for the quarter ended June 30, 2024, and $1.2 million, or $0.45 diluted earnings per share, for the quarter ended September 30, 2023. The Company also announced today that its Board of Directors declared a cash dividend on common stock of $0.19 per share, payable on November 26, 2024 to stockholders of record as of the close of business on November 12, 2024.

    Comments from the President and Chief Executive Officer

    “For the first time in our history, loans surpassed $900 million, and we continued to grow deposits. These production improvements came as we held operating expenses steady, demonstrating our ability to grow the Bank efficiently,” remarked Laurie Stewart, President and Chief Executive Officer. “We also completed a major upgrade to our online banking services and have received positive feedback on this from our clients,” concluded Ms. Stewart.

    “Net income increased 45% from the prior quarter primarily due to the improvement in our net interest margin, which was driven by the repricing and origination of new loans at higher market rates. At the same time, funding costs increased at a slower pace, as the majority of our deposits had already been repriced. We also made progress in transitioning time deposits to savings and money market accounts, which typically carry lower rates and provide more flexibility for future repricing,” explained Wes Ochs, Executive Vice President and Chief Financial Officer.

    Mr. Ochs continued, “As always, we remain focused on maintaining strong asset quality. Non-performing loans decreased from the prior quarter-end and we are actively utilizing available remedies to address the remaining problem loans.”

    Q3 2024 Financial Performance
    Total assets increased $26.1 million or 2.4% to $1.10 billion at September 30, 2024, from $1.07 billion at June 30, 2024, and increased $70.8 million or 6.9% from $1.03 billion at September 30, 2023.     Net interest income increased $425 thousand or 5.7% to $7.9 million for the quarter ended September 30, 2024, from $7.4 million for the quarter ended June 30, 2024, and decreased $295 thousand or 3.6% from $8.2 million for the quarter ended September 30, 2023.
       
        Net interest margin (“NIM”), annualized, was 2.98% for the quarter ended September 30, 2024, compared to 2.92% for the quarter ended June 30, 2024 and 3.38% for the quarter ended September 30, 2023.
    Loans held-for-portfolio increased $12.5 million or 1.4% to $901.7 million at September 30, 2024, compared to $889.3 million at June 30, 2024, and increased $26.3 million or 3.0% from $875.4 million at September 30, 2023.    
        An $8 thousand provision for credit losses was recorded for the quarter ended September 30, 2024, compared to a $109 thousand and a $75 thousand release of provision for credit losses for the quarters ended June 30, 2024 and September 30, 2023, respectively. At September 30, 2024, the allowance for credit losses on loans to total loans outstanding was 0.95%, compared to 0.96% at both June 30, 2024 and September 30, 2023.
    Total deposits increased $23.4 million or 2.6% to $930.2 million at September 30, 2024, from $906.8 million at June 30, 2024, and increased $69.3 million or 8.1% from $860.9 million at September 30, 2023. Noninterest-bearing deposits increased $4.8 million or 3.8% to $129.7 million at September 30, 2024 compared to $124.9 million at June 30, 2024, and decreased $24.2 million or 15.7% compared to $153.9 million at September 30, 2023.    
        Total noninterest income increased $73 thousand or 6.3% to $1.2 million for the quarter ended September 30, 2024, compared to the quarter ended June 30, 2024, and increased $154 thousand or 14.2% compared to the quarter ended September 30, 2023.
    The loans-to-deposits ratio was 97% at September 30, 2024, compared to 98% at June 30, 2024 and 102% at September 30, 2023.    
        Total noninterest expense decreased $58 thousand or 0.7% to $7.7 million for the quarter ended September 30, 2024, compared to the quarter ended June 30, 2024, and decreased $31 thousand or 0.4% from compared to the quarter ended September 30, 2023.
    Total nonperforming loans decreased $420 thousand or 4.7% to $8.5 million at September 30, 2024, from $8.9 million at June 30, 2024, and increased $6.7 million or 381.8% from $1.8 million at September 30, 2023. Nonperforming loans to total loans was 0.94% and the allowance for credit losses on loans to total nonperforming loans was 101.13% at September 30, 2024.    
        The Bank continued to maintain capital levels in excess of regulatory requirements and was categorized as “well-capitalized” at September 30, 2024.
           
             

    Operating Results

    Net interest income increased $425 thousand, or 5.7%, to $7.9 million for the quarter ended September 30, 2024, compared to $7.4 million for the quarter ended June 30, 2024, and decreased $295 thousand, or 3.6%, from $8.2 million for the quarter ended September 30, 2023.The increase from the prior quarter was primarily due to a higher average yield on interest-earning assets, particularly loans receivable, and an increase in the average balances of both loans receivable and interest-earning cash. This was partially offset by a more modest rise in the cost of funds, as higher cost earnings interest-bearing deposits decreased by the end of the third quarter of 2024, limiting the growth in funding costs compared to the prior quarter. The decrease in net interest income compared to the same quarter one year ago was primarily due to higher funding costs, specifically, increased rates on and balances of money market and certificate accounts, partially offset by an increase in the average yield earned on interest-earning assets.

    Interest income increased $799 thousand, or 5.7%, to $14.8 million for the quarter ended September 30, 2024, compared to $14.0 million for the quarter ended June 30, 2024, and increased $2.2 million, or 17.0%, from $12.7 million for the quarter ended September 30, 2023. The increase from the prior quarter was primarily due to a higher average balance of loans and interest-bearing cash, along with a 14 basis point increase in the average loan yield, reflecting higher rates on newly originated loans and upward adjustments to rates on existing variable rate loans. The increase in interest income compared to the same quarter last year was due primarily to higher average balances of loans and interest-bearing cash, a 41 basis point increase in the average yield on loans, a 20 basis point increase in the average yield on interest-bearing cash, and a seven basis point increase in the average yield on investments, partially offset by a decline in the average balance of investments.

    Interest income on loans increased $556 thousand, or 4.5%, to $12.9 million for the quarter ended September 30, 2024, compared to $12.3 million for the quarter ended June 30, 2024, and increased $1.4 million, or 11.9%, from $11.5 million for the quarter ended September 30, 2023. The average balance of total loans was $898.6 million for the quarter ended September 30, 2024, up from $891.9 million for the quarter ended June 30, 2024 and $862.4 million for the quarter ended September 30, 2023. The average yield on total loans was 5.70% for the quarter ended September 30, 2024, up from 5.56% for the quarter ended June 30, 2024 and 5.29% for the quarter ended September 30, 2023. The increase in the average loan yield during the current quarter, compared to both the prior quarter and the third quarter of 2023, was primarily due to the origination of new loans at higher interest rates. Additionally, variable-rate loans resetting to higher rates contributed to the increase in average yield compared to the third quarter of 2023. The increase in the average balance during the current quarter compared to the prior quarter was primarily due to growth in commercial and multifamily loans, manufactured housing loans and consumer loans, with the growth in consumer loans coming primarily from floating home loans. This was partially offset by a decline in construction and land loans. The average balances for commercial business loans and one-to-four family loans remained relatively flat from the second quarter of 2024. The increase in the average balance of loans during the current quarter compared to the third quarter of 2023 was primarily due to loan growth across all categories, except for one-to-four family loans, construction and land loans, and commercial business loans, with the largest decrease being in construction and land loans.

    Interest income on investments was $132 thousand for the quarter ended September 30, 2024, compared to $133 thousand for the quarter ended June 30, 2024, and $139 thousand for the quarter ended September 30, 2023. Interest income on interest-bearing cash increased $244 thousand to $1.8 million for the quarter ended September 30, 2024, compared to $1.6 million for the quarter ended June 30, 2024, and increased $788 thousand from $1.0 million for the quarter ended September 30, 2023. These increases were due to higher average balances of interest-bearing cash, with the increase from the same quarter in the prior year also resulting from a higher average yield.

    Interest expense increased $374 thousand, or 5.7%, to $7.0 million for the quarter ended September 30, 2024, from $6.6 million for the quarter ended June 30, 2024, and increased $2.4 million, or 54.2%, from $4.5 million for the quarter ended September 30, 2023. The increase in interest expense during the current quarter from the prior quarter was primarily the result of a $38.8 million increase in the average balance of savings and money market accounts, as well as higher average rates paid on these accounts, partially offset by a $13.9 million decrease in the average balance of certificate accounts. The increase in interest expense during the current quarter from the comparable period a year ago was primarily the result of a $9.8 million increase in the average balance of certificate accounts and a $148.1 million increase in the average balance of savings and money market accounts, as well as higher average rates paid on all interest-bearing deposits. This was partially offset by a $46.3 million decrease in the average balance of demand and NOW accounts and a $2.8 million decrease in the average balance of FHLB advances. The average cost of deposits was 2.74% for the quarter ended September 30, 2024, up from 2.67% for the quarter ended June 30, 2024 and 1.85% for the quarter ended September 30, 2023. The average cost of FHLB advances was 4.32% for both the quarters ended September 30, 2024 and June 30, 2024, and down from 4.38% for the quarter ended September 30, 2023.

    NIM (annualized) was 2.98% for the quarter ended September 30, 2024, up from 2.92% for the quarter ended June 30, 2024 and down from 3.38% for the quarter ended September 30, 2023. The increase in NIM from the prior quarter was result of an increase in interest income on interest-earning assets, partially offset by an increase in the cost of funding. The decrease in NIM from the quarter one year ago was primarily due to the cost of funding increasing at a faster pace than the yield earned on interest-earning assets, driven by the higher average balance of higher costing money market and certificate accounts.

    A provision for credit losses of $8 thousand was recorded for the quarter ended September 30, 2024, consisting of a provision for credit losses on loans of $106 thousand and a release of provision for credit losses on unfunded loan commitments of $98 thousand. This compared to a release of provision for credit losses of $109 thousand for the quarter ended June 30, 2024, consisting of a release of provision for credit losses on loans of $88 thousand and a release of provision for credit losses on unfunded loan commitments of $21 thousand, and a provision for credit losses of $75 thousand for the quarter ended September 30, 2023, consisting of a provision for credit losses on loans of $224 thousand and a release of the provision for credit losses on unfunded loan commitments of$149 thousand. The increase in the provision for credit losses for the quarter ended September 30, 2024 compared to the quarter ended June 30, 2024 resulted primarily from growth in the loan portfolio and higher quantitative loss rates, which were influenced by a forecast of higher unemployment, and enhancements to the loss model, including an additional qualitative adjustment related to loan review. These adjustments were partially offset by decline in the balance of the construction loan portfolio, which typically has higher loss rates, and a decrease in the qualitative risk adjustment for construction loans as projects were completed and market conditions improved. Expected loss estimates consider various factors, such as market conditions, borrower -specific information, projected delinquencies, and the impact of economic conditions on borrowers’ ability to repay.

    Noninterest income increased $73 thousand, or 6.3%, to $1.2 million for the quarter ended September 30, 2024, compared to the quarter ended June 30, 2024, and increased $154 thousand, or 14.2%, compared to the quarter ended September 30, 2023. The increase from the prior quarter was primarily related to a $217 thousand upward adjustment in fair value of mortgage servicing rights and a $52 thousand increase in earnings from bank-owned life insurance (“BOLI”), both influenced by fluctuating market interest rates. These gains were partially offset by a $133 thousand decrease in service charges and fee income, which was elevated in the prior quarter due to the recovery of potential future lost fee income due to vendor error. Additionally, there was a $34 thousand decrease in net gain on sale of loans, due to lower sales volume, and a $30 thousand decrease in gain on disposal of assets due to insurance claims on the loss of fully depreciated assets in second quarter of 2024. The increase in noninterest income from the comparable period in 2023 was primarily due to an $98 thousand increase in earnings on BOLI due to market rate fluctuations, and an $179 thousand increase in the fair value adjustment on mortgage servicing rights due to changes in prepayment speeds, servicing costs, and discount rate. These increases were partially offset by a $72 thousand decrease in service charges and fee income primarily due to a volume incentive paid by Mastercard in 2023, a $36 thousand decrease in net gain on sale of loans for reason similar to those noted above, and a decrease in mortgage servicing income as a result of the portfolio paying down at a faster rate than we are replacing the loans. Additionally, mortgage servicing income decreased by $15 thousand compared to the third quarter of 2023. Loans sold during the quarter ended September 30, 2024, totaled $2.4 million, compared to $4.0 million and $4.4 million of loans sold during the quarters ended June 30, 2024 and September 30, 2023, respectively.

    Noninterest expense decreased $58 thousand, or 0.7%, to $7.7 million for the quarter ended September 30, 2024, compared to the quarter ended June 30, 2024, and decreased $31 thousand, or 0.4%, from the quarter ended September 30, 2023. The decrease from the quarter ended June 30, 2024 was primarily a result of lower a $189 thousand decrease in salaries and benefits, primarily due to lower incentive compensation accruals. This was partially offset by an $157 thousand increase in data processing expenses, largely due to a vendor reimbursement received in the previous quarter for software implementation costs. Additionally, regulatory assessments declined $31 thousand due to a lower accrual for exam costs. Compared to same quarter in 2023, the decrease in noninterest expense was primarily due to lower operations, data processing, and occupancy expenses, which were partially offset by a $321 thousand increase in salaries and benefits. Operations expenses decreased due to reduction in loan originations costs, office expenses, marketing costs, legal fees, and charitable contributions, partially offset by an operational loss from a fraudulently obtained loan charged off in the third quarter of 2024. Data processing expenses decreased due to one-time costs related to new technology implemented in 2023, while occupancy expenses decreased primarily due fully amortized leasehold improvements. The increase in salaries and benefits compared to the third quarter of 2023 reflected higher incentive compensation, medical expenses, retirement plan costs, and directors’ fees (due to the addition of a new director), partially offset by lower salaries from a restructuring of positions at the end of 2023.

    Balance Sheet Review, Capital Management and Credit Quality

    Assets at September 30, 2024 totaled $1.10 billion, an increase from $1.07 billion at June 30, 2024 and $1.03 billion at September 30, 2023. The increase in total assets from June 30, 2024 and one year ago was primarily due to an increase in cash and cash equivalents and in loans held-for-portfolio.

    Cash and cash equivalents increased $13.8 million, or 10.2%, to $148.9 million at September 30, 2024, compared to $135.1 million at June 30, 2024, and increased $47.0 million, or 46.2%, from $101.9 million at September 30, 2023. The increase from the prior quarter and from one year ago was primarily due to the increase in deposits exceeding the increase in loans held-for-portfolio.

    Investment securities increased $28 thousand, or 0.3%, to $10.2 million at September 30, 2024, compared to $10.1 million at June 30, 2024, and increased $17 thousand, or 0.2%, from $10.2 million at September 30, 2023. Held-to-maturity securities totaled $2.1 million at both September 30, 2024 and June 30, 2024, and totaled $2.2 million at September 30, 2023. Available-for-sale securities totaled $8.0 million at September 30, 2024, June 30, 2024 and September 30, 2023.

    Loans held-for-portfolio were $901.7 million at September 30, 2024, compared to $889.3 million at June 30, 2024 and $875.4 million at September 30, 2023. The increase from to June 30, 2024, primarily resulted from growth in one-to-four family home loans, commercial and multifamily loans, as well as manufactured home and floating home loans, partially offset by decreases in construction and land loans and home equity loans. The increase in one-to-four family home loans was primarily due to new originations exceeding prepayments during the quarter, while the increase in commercial and multifamily loans primarily resulted from conversion of construction projects to permanent financing. The increase in manufactured home loans and floating home loans relates to continued strong demand for this type of financing in our market. The decrease in construction and land loans was primarily due to project completions and reduced demand caused by higher interest rates, which limited new financing opportunities. The decrease in home equity loans reflected normal payment fluctuations. Compared to September 30, 2024, the overall increase in loans held-for-portfolio was due to sustained strong loan demand and slower prepayment activity, with increases primarily related to commercial and multifamily loans, home equity loans, manufactured home loans and floating home loans.

    Nonperforming assets (“NPAs”), which are comprised of nonaccrual loans (including nonperforming modified loans), other real estate owned (“OREO”) and other repossessed assets, decreased $420 thousand, or 4.7%, to $8.6 million at September 30, 2024, from $9.0 million at June 30, 2024 and increased $6.3 million, or 268.2%, from $2.3 million at September 30, 2023. The decrease in NPAs from June 30, 2024 was primarily due to the payoff of three loans totaling $175 thousand and one loan totaling $421 thousand returning to accrual status, partially offset by the addition of eight loans totaling $260 thousand to nonaccrual. The increase in NPAs from one year ago was primarily due to the placement of an additional $7.7 million of loans on nonaccrual status, which included a $3.7 million matured commercial real estate loan where the borrower is in the process of securing financing from another lender, a $2.4 million floating home loan, and a $985 thousand commercial real estate loan, all of which are well secured, and one manufactured home loan of $115 thousand that was repossessed in the first quarter of 2024. These additions were partially offset by the payoff of seven loans totaling $877 thousand, and normal payment amortization.

    NPAs to total assets were 0.78%, 0.84% and 0.23% at September 30, 2024, June 30, 2024 and September 30, 2023, respectively. The allowance for credit losses on loans to total loans outstanding was 0.95% at September 30, 2024, compared to 0.96% at both June 30, 2024 and September 30, 2023. Net loan charge-offs for the third quarter of 2024 totaled $14 thousand, compared to $17 thousand for the second quarter of 2023, and $3 thousand for the third quarter of 2023.

    The following table summarizes our NPAs at the dates indicated (dollars in thousands):

      September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Nonperforming Loans:                  
    One-to-four family $ 745     $ 822     $ 835     $ 1,108     $ 1,137  
    Home equity loans   338       342       83       84       86  
    Commercial and multifamily   4,719       5,161       4,747       —       306  
    Construction and land   25       28       29       —       78  
    Manufactured homes   230       136       166       228       151  
    Floating homes   2,377       2,417       3,192       —       —  
    Commercial business   23       —       —       2,135       —  
    Other consumer   32       3       1       1       4  
    Total nonperforming loans   8,489       8,909       9,053       3,556       1,762  
    OREO and Other Repossessed Assets:                  
    Commercial and multifamily   —       —       575       575       575  
    Manufactured homes   115       115       115       —       —  
    Total OREO and repossessed assets   115       115       690       575       575  
    Total NPAs $ 8,604     $ 9,024     $ 9,743     $ 4,131     $ 2,337  
                       
    Percentage of Nonperforming Loans:                  
    One-to-four family   8.7 %     9.1 %     8.5 %     26.9 %     48.7 %
    Home equity loans   3.9       3.8       0.9       2.0       3.7  
    Commercial and multifamily   54.8       57.2       48.7       —       13.1  
    Construction and land   0.3       0.3       0.3       —       3.3  
    Manufactured homes   2.7       1.5       1.7       5.5       6.4  
    Floating homes   27.6       26.8       32.8       —       —  
    Commercial business   0.3       —       —       51.7       —  
    Other consumer   0.4       —       —       —       0.2  
    Total nonperforming loans   98.7       98.7       92.9       86.1       75.4  
    Percentage of OREO and Other Repossessed Assets:                  
    Commercial and multifamily   —       —       5.9       13.9       24.6  
    Manufactured homes   1.3       1.3       1.2       —       —  
    Total OREO and repossessed assets   1.3       1.3       7.1       13.9       24.6  
    Total NPAs   100.0 %     100.0 %     100.0 %     100.0 %     100.0 %
     

    The following table summarizes the allowance for credit losses at the dates and for the periods indicated (dollars in thousands, unaudited):

      At or For the Quarter Ended:
      September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Allowance for Credit Losses on Loans                  
    Balance at beginning of period $ 8,493     $ 8,598     $ 8,760     $ 8,438     $ 8,217  
    (Release of) Provision for credit losses during the period   106       (88 )     (106 )     337       224  
    Net charge-offs during the period   (14 )     (17 )     (56 )     (15 )     (3 )
    Balance at end of period $ 8,585     $ 8,493     $ 8,598     $ 8,760     $ 8,438  
    Allowance for Credit Losses on Unfunded Loan Commitments                  
    Balance at beginning of period $ 245     $ 266     $ 193     $ 557     $ 706  
    (Release of) Provision for credit   (98 )     (21 )     73       (364 )     (149 )
    Balance at end of period   147       245       266       193       557  
    Allowance for Credit Losses $ 8,732     $ 8,738     $ 8,864     $ 8,953     $ 8,995  
    Allowance for credit losses on loans to total loans   0.95 %     0.96 %     0.96 %     0.98 %     0.96 %
    Allowance for credit losses to total loans   0.97 %     0.98 %     0.99 %     1.00 %     1.03 %
    Allowance for credit losses on loans to total nonperforming loans   101.13 %     95.33 %     94.97 %     246.34 %     478.89 %
    Allowance for credit losses to total nonperforming loans   102.86 %     98.08 %     97.91 %     251.77 %     510.50 %
     

    Deposits increased $23.4 million, or 2.6%, to $930.2 million at September 30, 2024, from $906.8 million at June 30, 2024 and increased $69.3 million, or 8.1%, from $860.9 million at September 30, 2023. The increase in deposits compared to the prior quarter-end was primarily a result of an increase of $17.0 million related to one new depositor relationship, as well as a $5.3 million increase in related party money market deposits. Compared to a year ago, the increase was primarily a result of an increase in certificate accounts and money market accounts, including $50.2 million of related party deposits, which helped fund organic loan growth. These increases were partially offset by decreases in noninterest-bearing and interest-bearing demand accounts and savings accounts, as interest rate sensitive clients shifted funds from lower-cost deposits, such as noninterest-bearing deposits, into higher rate money market and time deposits. Noninterest-bearing deposits increased $4.8 million, or 3.8%, to $129.7 million at September 30, 2024, compared to $124.9 million at June 30, 2024 and decreased $24.2 million, or 15.7%, from $153.9 million at September 30, 2023. Noninterest-bearing deposits represented 14.0%, 13.8% and 17.9% of total deposits at September 30, 2024, June 30, 2024 and September 30, 2023, respectively.

    FHLB advances totaled $40.0 million at each of September 30, 2024, June 30, 2024, and September 30, 2023. FHLB advances are primarily used to support organic loan growth and to maintain liquidity ratios in line with our asset/liability objectives. FHLB advances outstanding at September 30, 2024 had maturities ranging from late 2024 through early 2028. Subordinated notes, net totaled $11.7 million at each of September 30, 2024, June 30, 2024 and September 30, 2023.

    Stockholders’ equity totaled $102.2 million at September 30, 2024, an increase of $892 thousand, or 0.9%, from $101.3 million at June 30, 2024, and an increase of $2.0 million, or 2.0%, from $100.2 million at September 30, 2023. The increase in stockholders’ equity from June 30, 2024 was primarily the result of $1.2 million of net income earned during the current quarter and a $127 thousand decrease in accumulated other comprehensive loss, net of tax, partially offset by the payment of $487 thousand in cash dividends to the Company’s stockholders.

    Sound Financial Bancorp, Inc., a bank holding company, is the parent company of Sound Community Bank, which is headquartered in Seattle, Washington and has full-service branches in Seattle, Tacoma, Mountlake Terrace, Sequim, Port Angeles, Port Ludlow and University Place. Sound Community Bank is a Fannie Mae Approved Lender and Seller/Servicer with one loan production office located in the Madison Park neighborhood of Seattle. For more information, please visit www.soundcb.com.

    Forward-Looking Statements Disclaimer

    When used in this press release and in documents filed or furnished by Sound Financial Bancorp, Inc. (the “Company”) with the Securities and Exchange Commission (the “SEC”), in the Company’s other press releases or other public or stockholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “intends” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which are based on various underlying assumptions and expectations and are subject to risks, uncertainties and other unknown factors, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events and may turn out to be wrong because of inaccurate assumptions we might make, because of the factors listed below or because of other factors that we cannot foresee that could cause our actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made.

    Factors which could cause actual results to differ materially, include, but are not limited to: adverse impacts to economic conditions in the Company’s local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation or deflation, a recession or slowed economic growth, as well as supply chain disruptions; changes in the interest rate environment, including increases and decreases in the Board of Governors of the Federal Reserve System (the Federal Reserve) benchmark rate and the duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the values of our assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the current and future monetary policies of the Federal Reserve in response thereto; the effects of any federal government shutdown; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; changes in consumer spending, borrowing and savings habits; fluctuations in interest rates; the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; the Company’s ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in the Company’s market area; secondary market conditions for loans; expectations regarding key growth initiatives and strategic priorities; environmental, social and governance goals and targets; results of examinations of the Company or the Bank by their regulators; increased competition; changes in management’s business strategies; legislative changes; changes in the regulatory and tax environments in which the Company operates; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on our third-party vendors; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; and other factors described in the Company’s latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other documents filed with or furnished to the SEC, which are available at www.soundcb.com and on the SEC’s website at www.sec.gov. The risks inherent in these factors could cause the Company’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company and could negatively affect the Company’s operating and stock performance.

    The Company does not undertake—and specifically disclaims any obligation—to revise any forward-looking statement to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statement.


    CONSOLIDATED INCOME STATEMENTS
    (Dollars in thousands, unaudited)

        For the Quarter Ended
        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Interest income   $ 14,838   $ 14,039     $ 13,760     $ 13,337     $ 12,686  
    Interest expense     6,965     6,591       6,300       5,770       4,518  
    Net interest income     7,873     7,448       7,460       7,567       8,168  
    Provision for (release of) credit losses     8     (109 )     (33 )     (27 )     75  
    Net interest income after provision for (release of) credit losses     7,865     7,557       7,493       7,594       8,093  
    Noninterest income:                    
    Service charges and fee income     628     761       612       576       700  
    Earnings on bank-owned life insurance     186     134       177       222       88  
    Mortgage servicing income     280     279       282       288       295  
    Fair value adjustment on mortgage servicing rights     101     (116 )     (65 )     (96 )     (78 )
    Net gain on sale of loans     40     74       90       76       76  
    Other income     —     30       —       —       —  
    Total noninterest income     1,235     1,162       1,096       1,066       1,081  
    Noninterest expense:                    
    Salaries and benefits     4,469     4,658       4,543       3,802       4,148  
    Operations     1,540     1,569       1,457       1,537       1,625  
    Regulatory assessments     189     220       189       198       183  
    Occupancy     414     397       444       458       458  
    Data processing     1,067     910       1,017       1,311       1,296  
    Net (gain) loss on OREO and repossessed assets     —     (17 )     6       —       —  
    Total noninterest expense     7,679     7,737       7,656       7,306       7,710  
    Income before provision for income taxes     1,421     982       933       1,354       1,464  
    Provision for income taxes     267     187       163       143       295  
    Net income   $ 1,154   $ 795     $ 770     $ 1,211     $ 1,169  
     

    CONSOLIDATED INCOME STATEMENTS
    (Dollars in thousands, unaudited)

        For the Nine Months Ended September 30
          2024       2023  
    Interest income   $ 42,638     $ 37,273  
    Interest expense     19,856       10,990  
    Net interest income     22,782       26,283  
    (Release of) provision for credit losses     (134 )     (246 )
    Net interest income after (release of) provision for credit losses     22,916       26,529  
    Noninterest income:        
    Service charges and fee income     2,001       1,951  
    Earnings on bank-owned life insurance     498       957  
    Mortgage servicing income     841       891  
    Fair value adjustment on mortgage servicing rights     (81 )     (123 )
    Net gain on sale of loans     205       264  
    Other income     30       —  
    Total noninterest income     3,494       3,940  
    Noninterest expense:        
    Salaries and benefits     13,670       13,333  
    Operations     4,566       4,557  
    Regulatory assessments     598       490  
    Occupancy     1,255       1,352  
    Data processing     2,995       3,077  
    Net (gain) loss on OREO and repossessed assets     (10 )     13  
    Total noninterest expense     23,074       22,822  
    Income before provision for income taxes     3,336       7,647  
    Provision for income taxes     617       1,419  
    Net income   $ 2,719     $ 6,228  
     

    CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands, unaudited)

        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    ASSETS                    
    Cash and cash equivalents   $ 148,930     $ 135,111     $ 137,977     $ 49,690     $ 101,890  
    Available-for-sale securities, at fair value     8,032       7,996       8,115       8,287       7,980  
    Held-to-maturity securities, at amortized cost     2,139       2,147       2,157       2,166       2,174  
    Loans held-for-sale     65       257       351       603       1,153  
    Loans held-for-portfolio     901,733       889,274       897,877       894,478       875,434  
    Allowance for credit losses – loans     (8,585 )     (8,493 )     (8,598 )     (8,760 )     (8,438 )
    Total loans held-for-portfolio, net     893,148       880,781       889,279       885,718       866,996  
    Accrued interest receivable     3,705       3,413       3,617       3,452       3,415  
    Bank-owned life insurance, net     22,363       22,172       22,037       21,860       21,638  
    Other real estate owned (“OREO”) and other repossessed assets, net     115       115       690       575       575  
    Mortgage servicing rights, at fair value     4,665       4,540       4,612       4,632       4,681  
    Federal Home Loan Bank (“FHLB”) stock, at cost     2,405       2,406       2,406       2,396       2,783  
    Premises and equipment, net     4,807       4,906       6,685       5,240       5,204  
    Right-of-use assets     3,779       4,020       4,259       4,496       4,732  
    Other assets     6,777       6,995       4,500       6,106       6,955  
    TOTAL ASSETS   $ 1,100,930     $ 1,074,859     $ 1,086,685     $ 995,221     $ 1,030,176  
    LIABILITIES                    
    Interest-bearing deposits   $ 800,480     $ 781,854     $ 788,217     $ 699,813     $ 706,954  
    Noninterest-bearing deposits     129,717       124,915       128,666       126,726       153,921  
    Total deposits     930,197       906,769       916,883       826,539       860,875  
    Borrowings     40,000       40,000       40,000       40,000       40,000  
    Accrued interest payable     908       760       719       817       588  
    Lease liabilities     4,079       4,328       4,576       4,821       5,065  
    Other liabilities     9,711       9,105       9,578       9,563       9,794  
    Advance payments from borrowers for taxes and insurance     2,047       812       2,209       1,110       1,909  
    Subordinated notes, net     11,749       11,738       11,728       11,717       11,707  
    TOTAL LIABILITIES     998,691       973,512       985,693       894,567       929,938  
    STOCKHOLDERS’ EQUITY:                    
    Common stock     25       25       25       25       25  
    Additional paid-in capital     28,296       28,198       28,110       27,990       28,112  
    Retained earnings     74,840       74,173       73,907       73,627       73,438  
    Accumulated other comprehensive loss, net of tax     (922 )     (1,049 )     (1,050 )     (988 )     (1,337 )
    TOTAL STOCKHOLDERS’ EQUITY     102,239       101,347       100,992       100,654       100,238  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 1,100,930     $ 1,074,859     $ 1,086,685     $ 995,221     $ 1,030,176  
     

    KEY FINANCIAL RATIOS
    (unaudited)

        For the Quarter Ended
        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Annualized return on average assets     0.42 %     0.30 %     0.29 %     0.46 %     0.46 %
    Annualized return on average equity     4.50 %     3.17 %     3.06 %     4.78 %     4.60 %
    Annualized net interest margin(1)     2.98 %     2.92 %     2.95 %     3.04 %     3.38 %
    Annualized efficiency ratio(2)     84.31 %     89.86 %     89.48 %     84.63 %     83.36 %
    (1)   Net interest income divided by average interest earning assets.
    (2)   Noninterest expense divided by total revenue (net interest income and noninterest income).
     

    PER COMMON SHARE DATA
    (unaudited)

        At or For the Quarter Ended
        September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023   September 30, 2023
    Basic earnings per share   $ 0.45     $ 0.31     $ 0.30     $ 0.47     $ 0.45  
    Diluted earnings per share   $ 0.45     $ 0.31     $ 0.30     $ 0.47     $ 0.45  
    Weighted-average basic shares outstanding     2,544,233       2,540,538       2,539,213       2,542,175       2,553,773  
    Weighted-average diluted shares outstanding     2,569,368       2,559,015       2,556,958       2,560,656       2,571,808  
    Common shares outstanding at period-end     2,564,095       2,557,284       2,558,546       2,549,427       2,568,054  
    Book value per share   $ 39.87     $ 39.63     $ 39.47     $ 39.48     $ 39.03  
     

    AVERAGE BALANCE, AVERAGE YIELD EARNED, AND AVERAGE RATE PAID
    (Dollars in thousands, unaudited)

    The following tables present, for the periods indicated, the total dollar amount of interest income from average interest-earning assets and the resultant yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and rates. Income and yields on tax-exempt obligations have not been computed on a tax equivalent basis. All average balances are daily average balances. Nonaccrual loans have been included in the table as loans carrying a zero yield for the period they have been on nonaccrual (dollars in thousands).

      Three Months Ended
      September 30, 2024   June 30, 2024   September 30, 2023
      Average
    Outstanding
    Balance    		   Interest
    Earned/
    Paid    		   Yield/Rate   Average Outstanding Balance   Interest
    Earned/
    Paid    		   Yield/Rate   Average Outstanding Balance   Interest
    Earned/
    Paid    		   Yield/Rate
    Interest-Earning Assets:                                  
    Loans receivable $ 898,570     $ 12,876   5.70 %   $ 891,863     $ 12,320   5.56 %   $ 862,397     $ 11,505   5.29 %
    Interest-earning cash   138,240       1,830   5.27 %     120,804       1,586   5.28 %     81,616       1,042   5.07 %
    Investments   13,806       132   3.80 %     13,935       133   3.84 %     14,793       139   3.73 %
    Total interest-earning assets $ 1,050,616       14,838   5.62 %     1,026,602     $ 14,039   5.50 %   $ 958,806       12,686   5.25 %
    Interest-Bearing Liabilities:                                  
    Savings and money market accounts $ 340,281       2,688   3.14 %   $ 301,454       2,115   2.82 %   $ 192,214       720   1.49 %
    Demand and NOW accounts   148,252       151   0.41 %     153,739       148   0.39 %     194,561       173   0.35 %
    Certificate accounts   303,632       3,524   4.62 %     317,496       3,731   4.73 %     293,820       2,984   4.03 %
    Subordinated notes   11,745       168   5.69 %     11,735       168   5.76 %     11,703       168   5.70 %
    Borrowings   40,000       434   4.32 %     40,000       429   4.31 %     42,815       473   4.38 %
    Total interest-bearing liabilities $ 843,910       6,965   3.28 %   $ 824,424       6,591   3.22 %   $ 735,113       4,518   2.44 %
    Net interest income/spread     $ 7,873   2.34 %       $ 7,448   2.28 %       $ 8,168   2.81 %
    Net interest margin         2.98 %           2.92 %           3.38 %
                                       
    Ratio of interest-earning assets to interest-bearing liabilities   124 %             125 %             130 %        
    Noninterest-bearing deposits $ 132,762             $ 128,878             $ 151,298          
    Total deposits   924,927     $ 6,363   2.74 %     901,567     $ 5,994   2.67 %     831,893     $ 3,877   1.85 %
    Total funding (1)   976,672       6,965   2.84 %     953,302       6,591   2.78 %     886,411       4,518   2.02 %
    (1)   Total funding is the sum of average interest-bearing liabilities and average noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.
     
      Nine Months Ended
      September 30, 2024   September 30, 2023
      Average
    Outstanding
    Balance    		   Interest
    Earned/
    Paid    		   Yield/Rate   Average
    Outstanding
    Balance    		   Interest
    Earned/
    Paid    		   Yield/Rate
    Interest-Earning Assets:                      
    Loans receivable $ 895,300     $ 37,429   5.58 %   $ 865,357     $ 34,437   5.32 %
    Interest-earning cash   122,194       4,832   5.28 %     70,094       2,447   4.67 %
    Investments   12,607       377   3.99 %     13,962       389   3.73 %
    Total interest-earning assets $ 1,030,101       42,638   5.53 %   $ 949,413       37,273   5.25 %
    Interest-Bearing Liabilities:                      
    Savings and money market accounts $ 308,845       6,669   2.88 %   $ 173,319       1,197   0.92 %
    Demand and NOW accounts   153,897       440   0.38 %     216,753       587   0.36 %
    Certificate accounts   312,176       10,950   4.69 %     273,564       7,182   3.51 %
    Subordinated notes   11,735       504   5.74 %     11,693       504   5.76 %
    Borrowings   40,000       1,293   4.32 %     45,280       1,520   4.49 %
    Total interest-bearing liabilities $ 826,653       19,856   3.21 %   $ 720,609       10,990   2.04 %
    Net interest income/spread     $ 22,782   2.32 %       $ 26,283   3.21 %
    Net interest margin         2.95 %           3.70 %
                           
    Ratio of interest-earning assets to interest-bearing liabilities   125 %             132 %        
    Noninterest-bearing deposits $ 131,365             $ 161,051          
    Total deposits   906,283     $ 18,059   2.66 %     824,687     $ 8,966   1.45 %
    Total funding (1)   958,018       19,856   2.77 %     881,660       10,990   1.67 %
    (1)   Total funding is the sum of average interest-bearing liabilities and average noninterest-bearing deposits. The cost of total funding is calculated as annualized total interest expense divided by average total funding.
     

    LOANS
    (Dollars in thousands, unaudited)

        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Real estate loans:                    
    One-to-four family   $ 271,702     $ 268,488     $ 279,213     $ 279,448     $ 280,556  
    Home equity     25,199       26,185       24,380       23,073       21,313  
    Commercial and multifamily     358,587       342,632       324,483       315,280       304,252  
    Construction and land     85,724       96,962       111,726       126,758       118,619  
    Total real estate loans     741,212       734,267       739,802       744,559       724,740  
    Consumer Loans:                    
    Manufactured homes     40,371       38,953       37,583       36,193       34,652  
    Floating homes     86,155       81,622       84,237       75,108       73,716  
    Other consumer     18,266       18,422       18,847       19,612       18,710  
    Total consumer loans     144,792       138,997       140,667       130,913       127,078  
    Commercial business loans     17,481       17,860       19,075       20,688       25,033  
    Total loans     903,485       891,124       899,544       896,160       876,851  
    Less:                    
    Premiums     736       754       808       829       850  
    Deferred fees, net     (2,488 )     (2,604 )     (2,475 )     (2,511 )     (2,267 )
    Allowance for credit losses – loans     (8,585 )     (8,493 )     (8,598 )     (8,760 )     (8,438 )
    Total loans held-for-portfolio, net   $ 893,148     $ 880,781     $ 889,279     $ 885,718     $ 866,996  
     

    DEPOSITS
    (Dollars in thousands, unaudited)

        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Noninterest-bearing demand   $ 129,717     $ 124,915     $ 128,666     $ 126,726     $ 153,921  
    Interest-bearing demand     148,740       152,829       159,178       168,346       185,441  
    Savings     61,455       63,368       65,723       69,461       76,729  
    Money market(1)     285,655       253,873       241,976       154,044       143,558  
    Certificates     304,630       311,784       321,340       307,962       301,226  
    Total deposits   $ 930,197     $ 906,769     $ 916,883     $ 826,539     $ 860,875  
    (1)   Includes $5.0 million of brokered deposits at December 31, 2023.
     

    CREDIT QUALITY DATA
    (Dollars in thousands, unaudited)

        At or For the Quarter Ended
        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    Total nonperforming loans   $ 8,489     $ 8,909     $ 9,053     $ 3,556     $ 1,762  
    OREO and other repossessed assets     115       115       690       575       575  
    Total nonperforming assets   $ 8,604     $ 9,024     $ 9,743     $ 4,131     $ 2,337  
    Net charge-offs during the quarter   $ (14 )   $ (17 )   $ (56 )   $ (15 )   $ (3 )
    Provision for (release of) credit losses during the quarter     8       (109 )     (33 )     (27 )     75  
    Allowance for credit losses – loans     8,585       8,493       8,598       8,760       8,438  
    Allowance for credit losses – loans to total loans     0.95 %     0.96 %     0.96 %     0.98 %     0.96 %
    Allowance for credit losses – loans to total nonperforming loans     101.13 %     95.33 %     94.97 %     246.34 %     478.89 %
    Nonperforming loans to total loans     0.94 %     1.00 %     1.01 %     0.40 %     0.20 %
    Nonperforming assets to total assets     0.78 %     0.84 %     0.90 %     0.42 %     0.23 %
     

    OTHER STATISTICS
    (Dollars in thousands, unaudited)

        At or For the Quarter Ended
        September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
                         
    Total loans to total deposits     97.13 %     98.27 %     98.11 %     108.42 %     101.86 %
    Noninterest-bearing deposits to total deposits     13.95 %     13.78 %     14.03 %     15.33 %     17.88 %
                         
    Average total assets for the quarter   $ 1,095,404     $ 1,070,579     $ 1,062,036     $ 1,033,985     $ 1,005,223  
    Average total equity for the quarter   $ 102,059     $ 100,961     $ 101,292     $ 100,612     $ 100,927  
                                             

    Contact

    Financial:      
    Wes Ochs
    Executive Vice President/CFO
    (206) 436-8587
     
    Media:      
    Laurie Stewart
    President/CEO
    (206) 436-1495

    The MIL Network –

  • MIL-OSI: Enovix Announces Pricing of Public Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — Enovix Corporation (“Enovix”) (NASDAQ: ENVX), a global high-performance battery company, today announced the pricing of an underwritten public offering of 10,416,667 shares of its common stock for total gross proceeds of $100 million before deducting underwriting discounts and commissions and estimated offering expenses payable by Enovix. The offering is expected to close on November 1, 2024, subject to satisfaction of customary closing conditions. All of the shares of common stock in the offering will be sold by Enovix.

    Enovix has granted the underwriter a 30-day option to purchase up to an additional 1,562,500 shares of its common stock offered in the public offering, at the public offering price, less underwriting discounts and commissions.

    Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

    The underwriter may offer the shares from time to time for sale in one or more transactions on the Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

    Enovix intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments, for general corporate purposes, and for working capital and capital expenses to achieve high-volume manufacturing at its high-volume production facility “Fab2” in Penang, Malaysia.

    The securities described above are being offered by Enovix pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed on August 9, 2023 and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on August 18, 2023. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website located at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, or by email at prospectus@cantor.com.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.

    About Enovix

    Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Enovix’s anticipated public offering. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “achieve,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

    Any forward-looking statements in this press release, such as the intended offering terms, are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions, the completion of the public offering on the anticipated terms or at all and satisfaction of customary closing conditions related to the proposed offering. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Enovix’s Annual Report on Form 10-K for the year ended December 31, 2023, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024. In addition, any forward-looking statements contained in this press release represent the Enovix’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Enovix explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

    For investor and media inquiries, please contact:

    Enovix Corporation
    Robert Lahey
    Email: ir@enovix.com

    The MIL Network –

  • MIL-OSI Economics: IMF Releases the 2024 Financial Access Survey Results

    Source: International Monetary Fund

    October 30, 2024

    Washington, DC: The International Monetary Fund (IMF) released the results of the 2024 Financial Access Survey (FAS), marking the 15th anniversary of the FAS. The report “FAS: 2024 Highlights,” published along with the data release, summarizes the key trends on access to and usage of financial services over the past few years. Established in 2009, the FAS has played a crucial role in providing essential data to develop and evaluate financial inclusion policies, a topic of key relevance for the IMF, as it fosters broader economic participation, reduces inequalities, promotes inclusive growth, and aids in achieving the Sustainable Development Goals (SDGs). The FAS stands as the most comprehensive annual supply-side database on financial inclusion, boasting nearly complete global coverage. It covers 192 economies, featuring 121 series and 70 normalized indicators for global comparison. The FAS dataset spans from 2004 to 2023, and it continues to evolve in line with financial innovations such as the provision of digital financial services and the increasing demand for gender-disaggregated data.

    Digital Financial Services Continue to Make Gains

    There has been a substantial increase in the usage of non-traditional financial services, including mobile and internet banking, with mobile money being particularly important in Sub-Saharan Africa. Yet, usage of traditional financial services remains essential in many economies. For example, from 2013 to 2019, deposit accounts per 100 adults increased by over 40% in emerging and developing Europe and Sub-Saharan Africa. The growth of digital financial services has also led to an increase in non-traditional access points, such as retail and mobile money agents, while traditional access methods like ATMs and bank branches have seen a decline, especially since the COVID-19 pandemic (Figure).

    Traditional and Non-traditional Access Points in Recent Years (2019 to 2023)

    (Number of Access Points Per 100,000 Adults)
     

    Source: Financial Access Survey and IMF staff calculations.

    Notes: These charts show the weighted average by region for economies whose data are available for 2019–2023. Country coverage differs across indicators depending on data availability. While three economies from Latin America and the Caribbean (El Salvador, Colombia, and Haiti) report data on number of registered mobile money agents, none provide data for all five years covered in this chart and are therefore not included.

    Microfinance Institutions Have Continued Supporting Economically Marginalized Groups

    Financing by microfinance institutions has shown resilience amid recent economic shocks. In various economies, borrowing from microfinance institutions increased, as indicated by the growth in the number of accounts and outstanding loans. While commercial banks usually provide larger loan amounts, microfinance institutions serve a broader client base, as evidenced by the larger number of loan accounts compared to those at commercial banks.

    Challenges in Narrowing Gender Gaps Remain 

    Despite the benefits of incorporating women into the financial system, substantial gender gaps in the usage of financial services persist. These gaps are particularly evident in the usage of deposit and loan accounts. Globally, women’s outstanding deposit amounts as percentage of men’s stand at 64 percent, while their outstanding loan balances account for only 46 percent of men’s. In terms of regional differences, advanced economies demonstrate a more gender-equal financial inclusion compared to emerging economies. Among the latter, emerging and developing Europe and Latin America and the Caribbean show relatively higher gender equality.

    Lending to SMEs Declined

    Data from FAS indicate a decrease in the outstanding amounts of SME loans from 2021 to 2023 in most economies that reported this information. Although several supportive policies were introduced during the COVID-19 Pandemic, subsequent developments, including tighter financial conditions and geopolitical tensions, may have contributed to the decline in SME loans.

    Additional Enhancements to the FAS are Being Tested

    To ensure the FAS data remain vital for informing financial inclusion policy, a pilot exercise is underway to assess the potential for enhancing the FAS. This includes incorporating additional gender disaggregation, information on new fintech services, and important factors such as loan pricing and risks, especially for underserved populations.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Economics –

  • MIL-OSI USA: Merkley, Wyden Announce $46 Million to Boost the Klamath Basin

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    October 30, 2024

    Federal funding will help restore the Klamath River’s habitat following historic dam removal and further protect endangered C’waam, Koptu, and salmon

    Washington, D.C. – Oregon’s U.S. Senators Jeff Merkley and Ron Wyden today announced the U.S. Fish and Wildlife Service (USFWS) is investing a total of $46,191,133 in Bipartisan Infrastructure Law funding to boost ecosystem restoration and enhance water quality and reliability through 24 projects throughout the Klamath Basin—12 of which are taking place in Oregon.

    This latest federal funding wave from the landmark law will largely fuel the Klamath River’s recovery and habitat restoration efforts following the removal of the four lower Klamath Dams in 2024—the largest dam removal effort in U.S. history.

    “A key to restoring the Klamath Basin is major federal investments that will support collaborative ecosystem restoration and water improvement efforts. This funding will continue ongoing efforts I helped energize alongside the Klamath Tribes and other stakeholders to save the C’waam and Koptu, and restore the aquatic habitat and ecosystems of the Klamath River following the historic removal of the four lower Klamath Dams,” said Merkley, who visited Northern California earlier in October to tour a former dam site and celebrate removal alongside Tribes and other key partners. “Since the dams came out, we’ve seen the salmon returning home for the first time in generations. This federal investment champions projects that help ensure the C’waam, Koptu, and salmon all have an ecosystem to thrive in, while also prioritizing efforts that help this unique region’s water go farther for the Tribes, farmers, fish, and vital ecosystems that rely on it.”

    “Restoration of the Klamath Basin requires significant resources just like these to catalyze the work that’s needed locally to build a stronger ecosystem and improve water quality,” Wyden said. “This fresh federal investment in the region and the big gains it will generate for jobs, recreation, and habitat will work to ensure the area’s farmers, Tribes and communities can grow and thrive for generations to come.”

    As Chairman of the Senate Interior Appropriations Subcommittee, Merkley secured a historic $162 million over five years through the Bipartisan Infrastructure Law specifically dedicated to restoring ecosystems and enhancing drought resiliency work in the Klamath Basin. Today’s $46 million funding announcement from the U.S. Department of the Interior’s USFWS marks the third year of investments from this landmark law, as it follows $26 million provided in 2022 and $15 million in 2023. Merkley also convened the “Sucker Summit ” in 2018, which brought people from across the Basin together and helped lay the groundwork for these significant investments to protect the C’waam and the Koptu.

    In February of this year, Merkley and Wyden announced $72 million in new federal funding for critical ecosystem restoration projects and agricultural infrastructure modernization in the Basin, as well as a historic agreement with the Klamath Tribes, Yurok Tribe, Karuk Tribe, and Klamath Water Users Association (KWUA). This Memorandum of Understanding (MOU) cemented their commitment to working together to drive long-term solutions to the Basin’s water challenges. That includes collective efforts to restore the region’s ecosystem and improve water supply and reliability for the Klamath Project. 

    The 12 restoration projects in Oregon—some of which are being developed by Klamath MOU group partners, as well as other Tribes and other conservation partners—are as follows:

    • $13,000,000 for the Wetland Restoration on Upper Klamath Basin National Wildlife Refuge Agency Lake Units project. This will complete restoration of the Agency-Barnes wetland units of Upper Klamath National Wildlife Refuge and provide fish habitat access in Fourmile and Sevenmile creeks. Covering 14,356 acres, the restored wetland will create vital habitat for waterfowl, federally endangered Lost River and shortnose suckers (C’waam and Koptu sucker fish), and other species, making it one of the largest wetland restoration initiatives in America. MOU group partners – Ducks Unlimited and Klamath Tribes
    • $3,500,000 for the Upper Williamson River Restoration Phase 2 project. This will provide fish passage to over 26 miles of the upper Williamson River and reconnect several thousand acres of adjacent wetlands and riparian habitats within the Klamath Marsh National Wildlife Refuge project area. MOU group partners – Ducks Unlimited and Klamath Tribes
    • $3,179,400 for the Climate Change Resiliency Stream Restoration and Post Bootleg Fire Stream Stabilization and Restoration project. This effort includes placing approximately 400 Beaver Dam Analog, Post Assisted Log Structures, and other types of instream structures to help restore several streams in the Sprague River and Williamson River watersheds. MOU partner – Klamath Tribes
    • $3,000,000 for the Lake Ewauna Restoration for the Benefit of People, Fish and Wildlife project. This funding will be used to develop and restore wetlands and shoreline around Lake Ewauna in downtown Klamath Falls for the benefit of native fish and wildlife species and to tell the story of the local Tribes, farmers, and communities in the Klamath Basin. Restorative improvements to habitat in Link River and instream habitat improvements within Lake Ewauna will benefit C’waam and Koptu suckers, native trout, migratory waterfowl, and other species. With the recently removed Klamath dams, salmon and steelhead will also be migrating through Lake Ewauna for the first time in over a century. Partners – The Klamath Watershed Partnership, City of Klamath Falls, and Klamath County Economic Development Agency
    • $2,540,000 million for the Tule Lake Flow Through Infrastructure Improvement project. This encompasses a suite of infrastructure improvements and operational changes to provide natural ecosystem services with respect to water quality in the Klamath Basin. Water used for farmland irrigation would then flow through wetlands before returning to the Klamath River. In addition to water quality benefits for the Klamath River, this project will provide habitat for threatened and endangered fish, support migratory wildlife, recharge groundwater, and provide other ecosystem benefits. MOU group partners – KWUA and Tulelake Irrigation District
    • $2,027,799 for the SONAR and Radio Telemetry and Spawning Surveys for Klamath Salmon project. This will be used to obtain abundance estimates of salmon and steelhead entering the reach previously blocked by the four lower Klamath dams and track salmon migrations to their spawning grounds. These metrics will provide a foundation for assessment of stock status and trends while guiding future restoration efforts in the newly accessible habitats, developing a toolset to support prioritization of future restoration and monitoring in the Klamath River. It will also provide much needed capacity for three of the six tribes on the Klamath River, allowing them to track the return of these culturally significant species. MOU group partners – Karuk Tribe, California Trout, Klamath Tribes, Yurok Tribe, Cal Poly Humboldt, and the California Department of Fish and Wildlife
    • $1,253,000 for the Klamath Basin Fisheries Collaborative: Passive Integrated Transponder (PIT) Tag Monitoring and Database project. This will be used to continue to build the infrastructure required to provide Klamath Basin fisheries managers with consistent and reliable data on movements of fish using PIT tags. Work funded by this proposal includes continuing to improve on existing fish monitoring efforts by coordinating activities and collaborating on tasks, as well as advancing data exchange by refining the user interface and providing technical support to data providers. Partner – Pacific States Marine Fisheries Commission
    • $500,000 for the Implementation of Integrated Fisheries Restoration and Monitoring Plan (IFRMP) project. This will fund a USFWS initiative to support Klamath Basin stakeholders in tracking, coordinating, and integrating monitoring and data collection efforts across the Basin.
    • $500,000 for the Klamath Basin Stakeholder Engagement and Facilitation project. This will fund a USFWS initiative to provide greater continuity and work toward local governance for the MOU parties, which are interested in utilizing a neutral facilitator to help identify additional ways to promote collaboration and reduce conflict over natural resources. This effort could include expanding the MOU group to include other interested parties and to develop proposals related to a governance structure for making important decisions on restoration and monitoring in the Klamath Basin. These funds would support the hiring of a facilitator selected by the parties and support up to three to five years of facilitation support.
    • $300,000 for the Post Dam Removal Data Collection on Salmon Migration and Movement project. This funding will be used by project partners to use otolith microchemistry tools to 1) understand how Klamath Dam removal affects the early life history diversity of Chinook salmon, 2) determine the natal origin and migration histories of returning fish, pre- and post-dam removal, 3) determine which tributaries are and are not producing Chinook salmon, and 4) quantify how Chinook production varies between different tributaries before and after dam removal. The information is critical to adaptively managing the Klamath Basin, post dam removal, and has important implications for restoration of key tributaries. Partner – UC Davis
    • $295,000 for the Surface Water Management and Efficiency Enhancement project. This encompasses necessary infrastructure improvements to allow safe, reliable, and integrated management of water within the Klamath Project. MOU group partners – KWUA, Klamath Irrigation District, and Klamath Drainage District
    • $200,000 for the FWS Post Dam Removal Science Symposia project. This will fund an USFWS initiative to sponsor a Klamath science symposium in 2025. Planning for this symposium will start in November 2024. The goal is to bring together stakeholders/experts to discuss the state of the Basin post dam removal, progress on restoration and monitoring, and next-step strategies to continue the momentum on restoration progress in the years ahead.

    For a complete list and full descriptions of all the 24 projects awarded funding in the Klamath Basin, click HERE.

    MIL OSI USA News –

  • MIL-OSI USA: In Boulder City, Cortez Masto Celebrates New St. Jude’s Healing Center Grand Opening

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Boulder City, Nev. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) joined staff and survivors for the grand opening of the St. Jude’s Ranch for Children in Boulder City. The St. Jude’s Healing Center provides trauma-informed treatment to survivors of commercial child sex trafficking.

    “Since my time as Nevada’s Attorney General, combating human trafficking and supporting survivors has been one of my top priorities,” said Senator Cortez Masto. “I was here for the groundbreaking of the St. Jude’s Healing Center two years ago, and I am grateful for the opportunity to come back for its grand opening. I’ll continue fighting to ensure essential organizations like the St. Jude’s have access to the resources they need to support survivors through the recovery process.”

    Senator Cortez Masto is an outspoken advocate for the survivors of human trafficking and sexual assault. She recently called on Congress to provide more funding to support the Crime Victims fund, which provides services and resources for survivors of sexual assault. Her federal legislation to help train law enforcement to identify and prevent child trafficking and combat human trafficking activity on social media was signed into law. She co-sponsored bipartisan legislation that would prevent the trafficking of children by providing grants for the training of students, parents, and school personnel to respond to the signs of human trafficking.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: What the Great Gale of 1824 taught us about extreme weather

    Source: United Kingdom – Government Statements

    November is the 200th anniversary of the Great Gale of 1824. It killed nearly 100 people and destroyed villages along the south coast of England.

    There is a free public exhibition about the impacts of the Great Gale on the Dorset coast.

    The Environment Agency, Dorset Coast Forum and Bournemouth, Christchurch and Poole (BCP) Council are raising awareness of extreme weather and flooding as they mark the 200th anniversary of the 1824 Great Gale.

    On the night of 22 November 1824, a devastating storm struck England’s south coast and raged for two days. Winds reached hurricane force, with gusts exceeding 100 mph, causing widespread damage. Houses were severely flooded, whole villages destroyed, ships lost at sea and nearly 100 people were tragically killed.

    Trail of destruction

    The Dorset coast was hardest hit, but the storm’s impact stretched from Land’s End to Dover. Inland communities did not escape devastation from wind damage and it took many years for affected communities to recover.

    At Plymouth, the storm sunk 22 vessels and swept away over 200,000 tons of stone from the city’s new breakwater which was under construction. While, at Abbotsbury, seawater surged over Chesil Beach, reaching astonishing depths of up to 6.9 metres.

    Watch our animation about the Great Gale’s trail of destruction Great Gale of 1824.

    Rare combination created Dorset’s worst storm

    The Great Gale, considered the most destructive storm ever to strike the Dorset coastline, was caused by a rare combination of factors. Hurricane force winds, spring high tides, extreme low pressure and towering waves created unprecedented conditions for the storm. Its severity was so extreme it is estimated to have a 1 in 10,000 chance of recurring each year.

    Recent events like Storm Boris in Europe, Typhoon Yagi in Asia and Hurricanes Helene and Milton in North America highlight the ongoing threat of severe weather – and, as climate change increases the energy driving these storms, the importance of being prepared.

    How to prepare for extreme weather

    This post is nearly 7m high and shows the 1824 storm’s high water mark which reached 22ft 8in at the Swannery, Abbotsbury, Dorset.

    Know the simple steps to take in advance to protect yourself from flooding.

    Andrea Summers, Environment Agency flood and coastal risk manager for Wessex, said:

    As we remember those who tragically lost their lives 200 years ago, this anniversary serves as a stark reminder of the destructive power of nature and the devastating impact flooding can have on communities.

    Needless to say, we are much more resilient now than we were then, with major innovations in forecasting, warning and defence systems. But our climate is changing, sea levels are rising and extreme weather events are becoming more frequent.

    While the events of November 1824 represent a worst-case scenario, they highlight the importance of being prepared. You should know your flood risk, sign up for flood warnings and make sure your homes and businesses are resilient to flooding.

    What is being done to better protect people

    The Environment Agency is investing to better protect people from flooding and extreme weather. The £200m Flood and Coastal Innovation Programmes is working in partnership with local authorities nationwide to develop, test and implement innovative ways of improving resilience and adapting to the impacts of flooding, coastal erosion and climate change. 

    Additionally, the new Floods Resilience Taskforce is driving government efforts to accelerate the development of flood defences and bolster the nation’s resilience to extreme weather events.

    How to see The Great Gale of 1824 exhibition

    As part of the bicentenary commemorations, the Environment Agency has worked with Dorset Coast Forum and BCP Council to bring together a free public exhibition to explore the impacts the Great Gale left on the Dorset Coast.  For more information, including dates and venues, please visit the Dorset Coast Forum website.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Government ends miners’ pension injustice

    Source: United Kingdom – Government Statements

    Historic injustice reversed as 112,000 former coalminers finally have £1.5 billion from their pension scheme transferred to them, boosting their pensions.

    • Historic injustice reversed as 112,000 former coalminers finally have £1.5 billion from their pension scheme transferred to them, boosting their pensions by 32% 

    • Government delivers longstanding campaign ask from ex-pit workers, alongside new review to also ensure mineworkers receive a fair pension for years to come 

    • Energy Secretary pays tribute to the “mineworkers who powered our country” and the campaigners who fought for justice over many years 

    Over 100,000 former mineworkers will receive £1.5 billion of money that was kept from their pensions, overturning an historic injustice and ensuring fair payouts for years to come. 

    Following the announcement in yesterday’s budget, Energy Secretary Ed Miliband confirmed that the move will mean a 32% boost to the annual pensions of 112,000 former mineworkers – an average increase of £29 per week for each member. 

    The investment reserve fund was set up using profits from the scheme in 1992, to provide a buffer in case the Mineworkers’ Pension Scheme went into deficit. This money was due to be returned to government in 2029.  

    Former mineworkers and their families have fought for justice for many years. In a landmark decision, the fund – now worth £1.5 billion – will be handed over to the pension scheme, ensuring former pit workers who powered the country for decades finally get the just rewards from their labour.  

    When British Coal was privatised in 1994, the government also agreed to take half of any profits generated by the pension scheme, in return for a guarantee that pensions would increase in line with inflation. 

    The scheme has continued to produce strong returns and the government has never paid any funds into it. Therefore, the government is also delivering on its commitment to review this agreement to ensure former miners and their families get a fairer deal in the years ahead, with next steps set out in the coming months. 

    Energy Secretary Ed Miliband said: 

    We owe the mining communities who powered this country a debt of gratitude.  

    For decades, it has been a scandal that the government has taken money that could have been passed to the miners and their families. 

    Today, that scandal ends, and the money is rightfully transferred to the miners. I pay tribute to the campaigners who have fought for justice- today is their victory.

    Minister for Industry Sarah Jones said: 

    Miners powered our industries and our homes for decades. That’s why we have to right the wrong that has denied them the decent pension they deserved. 

    We are handing over the £1.5 billion that for years has sat in the reserve fund unused at times when people needed it most. This will end an historic injustice and will ensure members of the scheme see an average increase of £29 per week added to their pay – an increase of 32%.

    Gary Saunders, Chair of the Trustees of the Mineworker’ Pension Scheme, said: 

    As a Trustee board we are delighted we will be able to put more money in our members’ pockets. We are also grateful to the many members and MPs who have shown support of the Scheme on this matter over the years.

    Allen Young, Pensioner Representative Trustee for the North East of England and Overseas members, said: 

    The government’s decision to make good on this part of its manifesto commitment in respect of the Scheme is a very positive development for our members. The Trustees will use the Investment Reserve to increase our members’ pensions and we will be writing to all members with the good news very shortly.

    The trustees are responsible for deciding how the £1.5 billion fund is distributed amongst their 112,000 members and are now working at speed to deliver the bonus into pension pay packets from November this year. 

    This announcement follows urgent action already taken toward the government’s clean energy superpower mission, helping to boost energy independence and create jobs. In just three months this includes lifting the ban on onshore wind, setting up Great British Energy and announcing a partnership with The Crown Estate to accelerate offshore wind projects, approving four major solar farms, launching the Clean Energy Mission Control centre led by Chris Stark, securing a record pipeline of renewable projects in the latest auction and launching the UK’s first carbon capture sites. 

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Further fire restrictions announced for parts of the northwest 

    Source: Victoria Country Fire Authority

    The Fire Danger Period will commence on November 11

    The Fire Danger Period (FDP) will begin at 01.00am on Monday, November 11, for the following municipalities in CFA’s northwest Region: 

    • City of Greater Bendigo 
    • Central Goldfields Shire Council  
    • Mount Alexander Shire Council 

    Residents living in these districts are asked to take this opportunity ahead of the FDP to clean up their properties, while landowners are encouraged to conduct safe private burn-offs where possible.  

    CFA District 2 Assistant Chief Fire Officer Archie Conroy said residents should take note of the conditions and prepare accordingly.  

    “Conditions across the northwest region are drier than usual, warranting the implementation of restrictions to protect our communities,” Archie said. 

    “Macedon Ranges Shire is currently the exception, and we’ll be assessing conditions there closely.  

    “As we head into the warmer months, small actions like reducing vegetation and securing your property can make a significant difference in protecting both homes and lives.  

    “We’re working hard to monitor conditions, and every precaution you take now helps build a stronger line of defence against fire.” 

    Those conducting burn-offs must notify authorities online at the Fire Permits Victoria website (www.firepermits.vic.gov.au), or by calling ESTA on 1800 668 511.   

    By registering your burn-off online, you allow emergency call takers to allocate more of their time taking calls from people who need emergency assistance immediately.  

    No burning off is permitted during the FDP without a Permit to Burn, which can be applied for through the Fire Permits Victoria website.  

    There are very strict conditions attached to these permits and the liability sits with the permit holder to ensure they always act safely.    

    Fire Danger Period information:  

    • A written permit is required to burn off grass, undergrowth, weeds or other vegetation during the FDP. You can apply for a permit at firepermits.vic.gov.au. It can also be issued by the Municipal Fire Prevention Officer or the CFA District Office.   
    • Lighting fires in the open without a permit can bring a penalty of more than $21,800 and/or 12 months imprisonment. For a full list of conditions, visit cfa.vic.gov.au/can.  
    • To find out what you can and can’t do during FDP, visit  www.cfa.vic.gov.au/can or by calling VicEmergency Hotline on 1800 226 226.  
    Submitted by CFA Media

    MIL OSI News –

  • MIL-OSI USA: Sols 4348-4349: Smoke on the Water

    Source: NASA

    2 min read

    Earth planning date: Monday, Oct. 28, 2024

    Before the science team starts planning, we first look at the latest Navcam image downlinked from Curiosity to see where the rover is located. It can be all too easy to get lost in the scenery of the Navcam and find new places in the distance we want to drive towards, but there’s so much beauty in the smaller things. Today I’ve chosen to show a photo from Curiosity’s hand lens camera, MAHLI, that takes photos so close that we can see the individual grains of the rock.

    The planning day usually starts by thinking about these smaller features: What rocks are the closest to the rover? What can we shoot with our laser? What instruments can we use to document these features? Today we planned two sols, and the focus of the close-up contact science became a coating of material that in some image stretches looks like a deep-purple color.

    We planned lots of activities to characterize this coating including use of the dust removal tool (DRT) and the APXS instrument on a target called “Reds Meadow.” This target will also be photographed by the MAHLI instrument. The team planned a ChemCam LIBS target on “Midge Lake” as well as a passive ChemCam target on “Primrose Lake” to document this coating with a full suite of instruments. Mastcam will then document the ChemCam LIBS target Midge Lake, and take a mosaic of the vertical faces of a few rocks near to the rover called “Peep Sight Peak” to observe the sedimentary structures here. Mastcam will also take a mosaic of “Pinnacle Ridge,” an area seen previously by the rover, from a different angle. ChemCam is rounding off the first sol with two long-distance RMI mosaics to document the stratigraphy of two structures we are currently driving between: Texoli butte and the Gediz Vallis channel.

    In the second sol of the plan, after driving about 20 meters (about 66 feet), Curiosity will be undertaking some environmental monitoring activities before an AEGIS activity that automatically selects a LIBS target in our new workspace prior to our planning on Wednesday morning.

    Written by Emma Harris, Graduate Student at Natural History Museum, London

    MIL OSI USA News –

  • MIL-OSI USA: PCC short-line railroad receives $37.7 million federal grant to improve eastern Washington track

    Source: Washington State News 2

    OLYMPIA – A project to improve 34 miles of railroad track between Davenport and Wilbur recently received a $37.7 million grant from the Federal Railroad Administration.

    The Washington State Department of Transportation will use the grant, from the Consolidated Rail Infrastructure and Safety Improvements program, to continue enhancements on the state-owned Palouse River and Coulee City (PCC) railway in eastern Washington. Another $20.3 million in state and private matching funds were contributed toward this project.  

    This grant is in addition to two previous federal grants received for upgrades to the PCC system – one in 2018 for $5.6 million and another in 2023 for $72.8 million. These grants were matched with a total of $45 million in state, local and private funds. Capital projects funded by these two grants benefit the PCC system in Grant, Lincoln, Spokane, Adams and Whitman counties.

    The latest Phase III grant will replace 100-year-old worn rail with new heavy 115-pound rail, which can accommodate today’s modern 286,000-pound rail cars. Once the new rail is installed, track speeds will increase from 10 to 25 mph, enabling agricultural products to move more quickly to national and international markets.

    These improvements align with the 2015 PCC Rail System Strategic Plan (PDF 3MB), which serves as a blueprint for investments on the state’s longest short-line railroad. WSDOT oversees the facilities and regulatory portions of the system and contracts with private railroads to operate and maintain each of the three branches. The PCC Rail Authority — an intergovernmental entity formed by the counties — oversees the business and economic development portions of the operating leases.

    MIL OSI USA News –

  • MIL-OSI Economics: Media Release: Australia wins bid to host 2026 global carbon capture conference – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Media Release: Australia wins bid to host 2026 global carbon capture conference – Australian Energy Producers

    The Australian oil and gas sector’s leadership in carbon capture, utilisation and storage (CCUS) – a key emissions reductions technology – is set to be showcased on the world stage.

    Australian Energy Producers is pleased to announce it will co-host the world’s leading CCUS conference in Perth in 2026, in partnership with the CSIRO, CO2CRC and the Department of Climate Change, Energy, the Environment and Water.

    The Greenhouse Gas Control Technologies (GHGT) Conference, run by the IEA Greenhouse Gas R&D Programme, brings together over 1,000 CCUS researchers, industry leaders, government officials, and stakeholders from around the world to discuss and share the latest developments with the technology.

    Australian Energy Producers Chief Executive Samantha McCulloch said Australia’s selection to host GHGT-18 reinforced its standing as a global leader in CCUS research, development and deployment.  

    “Australia has two of the largest carbon capture and storage (CCS) projects operating globally – Chevron’s Gorgon Project and the Santos and Beach Energy joint venture Moomba Project,” she said.

    “These projects are today storing emissions equivalent to taking one million cars off the road each year.

    “CCUS is a key technology in efforts to reach net zero in Australia and the region.

    “The International Energy Agency, Intergovernmental Panel on Climate Change, and CSIRO have all found that there is no pathway to net zero without CCUS.”

    The 2026 event will be the third time Australia has hosted the global conference, having hosted it in Cairns in 2000 and Melbourne in 2018.

    The announcement last week in Canada during the closing session of GHGT-17 coincided with a major CCUS milestone for Australia, with the Moomba CCS Project achieving first injection and full ramp up.

    “Australia has a comparative advantage in CCUS, with world class geology, industry experience, and strong links with regional trading partners looking to collaborate on CCUS,” Ms McCulloch said.

    “Scaling up CCUS is an opportunity to not just reduce emissions but also create new jobs and attract new investment.”

    Australia’s hosting of the conference is supported by Business Events Perth, reflecting the opportunity for GHGT-18 to amplify Western Australia’s global standing as a premier destination for impactful global events.

    Contact: 0401 839 227

    MIL OSI Economics –

  • MIL-Evening Report: Forum troika’s visit highlights value of regionalism for New Caledonia

    ANALYSIS: By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk

    As a three-day fact-finding mission from a group of Pacific leaders drew to a close in New Caledonia, and with the outcomes report not expected before next year, the visit to the riot-hit French Pacific territory seems to have triggered a new sense of awareness locally about the values of Pacific regional mechanisms of “talanoa” embodied by the Pacific Islands Forum (PIF).

    Local President Louis Mapou stressed on several occasions during the visit that New Caledonia’s situation was the “subject of much attention” in the Pacific region.

    He suggested that one of the reasons for this could be because of a potential “spillover” effect that could “jeopardise cohesion in the Pacific”.

    However, Mapou also stressed that he had received the message conveyed by the PIF “Troika-Plus” group that “they’re ready to take part in [New Caledonia’s] reconstruction”.

    ‘New Caledonia’s regional integration in its region’
    Mapou said that one of the recurrent themes during the PIF visit was “New Caledonia’s regional integration in its region”.

    “Whatever might be said, in many ways, New Caledonia does not know its [Pacific] region very well. Because it has this affiliation relationship to Europe and France that has prevailed over all these years,” he told local media.

    “So, in a certain way, we’re just discovering our region. And in this process, the Pacific Islands Forum could bring a sort of leverage,” he said.

    Kanaky New Caledonia, as well as French Polynesia — both French Pacific entities — became full members of the Pacific Islands Forum in 2016, after several years of “associate members” status.

    Mapou said New Caledonia’s current status vis-à-vis France was mentioned during talks with the PIF mission.

    “I spoke with them about obstacles that should be removed, that are directly related to our current status. This is part of topics on which we should be working in future,” he said.

    “They’re very open-minded, they don’t have any preconceived ideas, they’re happy to talk equally about the concepts of independence, just as they are for keeping [New Caledonia] within the French Republic,” he revealed.

    One of the unexpected outcomes, beyond the specific fact-finding mission that brought this PIF “Troika-Plus” leaders’ delegation to New Caledonia, seems to have underlined the values of regionalism, as well as New Caledonia’s long-awaited and genuine integration in its “regional environment”.

    These values seem to have been recognised by all sides of New Caledonia’s political spectrum, as well as all walks of life within the civil, economic, educational and religious society.

    PIF’s “Troika-Plus” leaders meet with Southern Province President Sonia Backès (third from left) at SPC headquarters last Monday. Image: PIF/RNZ Pacific

    Pacific diversity in status
     During the past few days, informal exchanges with the Pacific leaders have also allowed New Caledonia’s authorities to share and compare possible ways forward regarding the territory’s political status.

    “They readily exchanged their own experiences with our government. The Cook Islands, which is a self-governing state in ‘free association’ with New Zealand; Tonga, which has never been colonised; and the Solomon Islands, who have also undergone inter-ethnic conflicts and where the young population was also involved. And Fiji, which obtained independence (in 1970), had decided to withdraw from the Commonwealth and is finally re-discussing its link with Great Britain,” Mapou briefed local media on Tuesday.

    The leaders spent three days (October 27-29) in the French Pacific territory to gather information on the ground, after destructive riots broke out in May, resulting in 13 deaths and extensive economic damage estimated at €2.2 billion.

    During the three days, the PIF leaders met a wide range of political, business, religious, and civil society leaders to get a first-hand account of the situation.

    On Tuesday, the “plus” component of the troika, Fiji Prime Minister Sitiveni Rabuka, reiterated the mission’s assigned mantra in a manner of conclusion to their mission.

    “We were here to understand and make recommendations. We have heard many extremely different attitudes. We hope it will be possible to find a solution for the people and the government,” Rabuka told religious leaders.

    Bitterness from civil society
     The long series of talks, within a particularly tight schedule, also allowed groups within New Caledonia’s civil society — including traditional chiefs, youth, human rights activists, educationists, mayors and women — to express their views directly during the Pacific leaders’ visit.

    Some of these groups also took the opportunity to point out that they were not always listened to in other circumstances.

    “Today, peace has just been through a rough episode. And we, women, are being asked to help. But when was the last time we were heard?

    “We’ve already said women should be part of all levels of decision-making, including on matters of dealing with violence and access for women to economic empowerment.

    “We were ignored. And then, when fire breaks out, we’re being asked for help because this is the foundation of Pacific values,” said Sonia Tonga, the president of the Oceania Union of Francophone Women, which groups women’s groups from New Caledonia, French Polynesia, Wallis-and-Futuna and Vanuatu.

    Talking about the youth, she said there was an “ill-being”, “they don’t recognise themselves in this system, including for education. We’re trying to fit an Oceanian society into a framework that has not been designed for them.

    “When will we be heard in our country?”.

    As part of talks with church leaders, it was also pointed out that there were benefits from sharing experiences with Pacific leaders.

    “I’ve been many times in Fiji, Tonga, the Solomon Islands, Vanuatu and other Pacific islands. They too have had their hard times.

    “And they too are familiar with the experience of violence which is difficult to bring back to a path of dialogue,” said 80-year-old Nouméa Catholic Archbishop Michel-Marie Calvet, a respected figure.

    In terms of earlier crises in the Pacific region, among PIF member island states, in the early 2000s, civil unrest occurred in both Fiji and the Solomon Islands, with shops being targeted and looted.

    Under Pacific Islands Forum mechanisms, especially the declaration of Biketawa, this prompted in 2003 the setting up of “RAMSI” (Regional Assistance Mission to Solomon Islands), with mostly Australia and New Zealand military and police as its main contributors, with additional input from other Pacific island countries.

    In Fiji, the mission to defuse the crisis, associated with an attempted coup and a MPs hostage situation within Parliament buildings in May 2000, was mainly achieved by the Republic of Fiji Military Forces (RFMF) through protracted negotiations and without violence.

    Forum “Troika-Plus” leaders in New Caledonia conducting a fact-finding mission to assess the situation on ground. Image: X /@ForumSEC/RNZ Pacific

    Supporting Pacific dialogue
    In the political sphere, there was a recognition of the benefits of a Pacific perspective.

    “There is a Pacific tradition of dialogue and talanoa. So, I think [the PIF leaders] can invite pro-independence parties to come to the [negotiating] table,” said New Caledonia’s Mayors’ Association president Pascal Vittori.

    “We’re actually expecting PIF will back this notion of dialogue — that’s what’s important now,” he told local media.

    Sonia Backès, one of the staunchest defenders of New Caledonia remaining part of France, told reporters on Monday: “We didn’t ask for this [mission]. Now we’re waiting for this (troika) report based on their observing mission.

    “We all know that there are biased views on the part of some, one way or the other.

    “So we hope the final report will be as fair and neutral as possible so as not to add fuel to the fire.”

    Following their visit to New Caledonia and based on the information gathered, the Forum “Troika-Plus” leaders are expected to compile a “comprehensive report” to be submitted to the next annual Forum Leaders’ Summit in the Solomon Islands in 2025.

    “The terms of reference of this mission were discussed beforehand between the government of New Caledonia, the Pacific Islands Forum and the (French) State. We all agreed that what was most important was to have an assessment of the situation.

    “There is a need to provide information to the public so that it is an informed opinion leader. It’s important in those times of misinformation and manipulation from one side or the other,” French ambassador for the Pacific Véronique Roger-Lacan told public broadcaster NC la 1ère TV on Tuesday evening.

    Rioting damage in Nouméa’s Ducos industrial zone. Image: LNC TV/RNZ Pacific

    Business sector now needs Pacific market overtures
     Even the business sector now seems to believe that, as a result of the widespread destruction caused by the riots, which has left more than 800 companies burnt down and looted, as well as thousands jobless, the wider Pacific region has now become a new potentially attractive market.

    “Our local market has just shrunk considerably and so we will need to find new openings for our products. In that perspective, our cooperation with the Pacific is very, very strategic”, said business leaders association MEDEF-NC president Mimsy Daly.

    She had once again presented a detailed view of the widespread devastation caused by the recent riots and those who took part.

    “‘Were they aware of what they were doing?’ is one of the questions I was asked,” she wrote on social networks after her encounter with the “Troika-Plus”.

    “A logical question when you know that what has been destroyed equals about 70 percent of the GDP of the Cook Islands, 100 percent of the GDP of the Solomon Islands and 40 percent of the GDP of Fiji.”

    But she admitted the response to this complex question was “primordial” and “every light will have to be shed on the matter”.

    In a wrap-up of the three days, President Mapou held a final meeting with the group on Tuesday.

    Wide circle of ‘concertation’ needed
     French High Commissioner Louis Le Franc, after a final meeting with the delegation, said: “They have come here to seek the profound causes of what happened on May 13. They have been listening very closely.

    “I understand their view is that a wide circle of concertation [cooperation] will be required to reach an agreement,” he said.

    He elaborated, saying that the Pacific Forum leaders seemed to place a lot of hope in the notions of “trust”, the “necessity of living together” and the PIF’s “will to help, while saying that, at the same time, the solution lies in the hands of New Caledonia”.

    French President Macron (right) with New Caledonia’s President Louis Mapou (left) and former New Caledonia Congress President Roch Wamytan (centre) earlier this year. Image: RNZ Pacific

    Next: another ‘concertation and dialogue’ mission
     Following the PIF “Troika-Plus” mission, another visit is expected in New Caledonia in the next few days — this time coming from Paris.

    This new high-level visit will be headed by the presidents of both houses of Parliament in France (Senate and National Assembly), respectively Gérard Larcher and Yaël Braun-Pivet, from November 9-14.

    They will lead what is described as a “mission of concertation and dialogue”.

    The dates come as a top-level meeting took place last week, presided by French Head of State Emmanuel Macron and attended by French minister for Overseas François-Noël Buffet (who had just returned from New Caledonia), French PM Barnier, Larcher and Braun-Pivet.

    The objective, once again, was to reinforce the signal that the time had come to resume political dialogue.

    Macron indicated earlier that he still intended to host a meeting in Paris sometime in November.

    Buffet was also in New Caledonia earlier this month for four days to assess the situation and try to restore a path to dialogue between all political stakeholders, both pro-independence and pro-France.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –