Category: KB

MIL-OSI Security: U.S. Marshals, ATF, Jackson Police Arrest Fugitive and Find Cache of Weapons

Source: US Marshals Service

Jackson, TN – The U.S. Marshals Service (USMS), Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and Jackson Police Department (JPD) captured a violent fugitive, Quoterrius Osler, and recovered a cache of weapons.

JPD responded to a shooting on October 11, 2024, in Chapel Ridge Apartments and found two people suffering from gunshot wounds. JPD investigators determined that Quoterrius Osler, 24, of Jackson, was responsible for this crime. A warrant was issued for Osler’s arrest for attempted first degree murder. The USMS Two Rivers Violent Fugitive Task Force in Jackson was requested to assist in finding and apprehending Osler.

On October 24, Deputy marshals, ATF agents, and JPD officers took Osler into custody at a residence in the 50 block of Point O’ Woods Drive in Jackson. During a search of the residence, JPD investigators recovered seven firearms. One of the recovered firearms had an attached device known as a “Glock switch” or auto sear that converts the firearm from a semi-automatic to fully automatic weapon.

The U.S. Marshals Two Rivers Violent Fugitive Task Force (TRVFTF) is a multi-agency task force within Western Tennessee. The TRVFTF has offices in Memphis and Jackson, and its membership is primarily composed of Deputy U.S. Marshals, Shelby, Fayette, and Tipton County Sheriff’s Deputies, Memphis and Jackson Police Officers, the Tennessee Department of Correction Special Agents and the Tennessee Highway Patrol. Since 2021, the TRVFTF has captured 3,000 violent offenders and sexual predators.

MIL Security OSI –

January 25, 2025
MIL-OSI USA: Congressman Deluzio Cosponsors Legislation to Rein in Corporate Landlords and Lower Housing Costs
Source: United States House of Representatives – Congressman Chris Deluzio (PA-17)

CARNEGIE, PA – This week, Representatives Chris Deluzio (PA-17) joined as an original co-sponsor of the Stop Wall Street Landlords Act reintroduced by Ro Khanna (CA-17), Katie Porter (CA-47), and Mark Takano (CA-39). This bill would end large institutional investors’ ability to use taxpayer dollars to subsidize the acquisition of single-family residential homes.

Since the 2008 housing crash and subsequent foreclosure crisis, increased investor activity in America’s housing market has normalized excessive fees and abusive practices while artificially driving up housing and rent prices. Investors bought 18% of all homes that sold in the fourth quarter of this year and 26% of the most affordable homes. In California, Nevada, Florida, Georgia, and other states where corporate landlords own a large concentration of single-family homes used as rental properties, investors are driving up the cost of rent.

“Low- and middle-income families in Western PA and across the country are being pushed out because of predatory practices by large corporate landlords buying up homes in our communities,” said Representative Chris Deluzio (PA-17). “Too many Wall Street investors are not good landlords; they have neglected maintenance, local taxes, and more—all while taking homes off the market. That is why I am proud to be an original co-sponsor of the Stop Wall Street Landlords Act—to help level the playing field and bring down housing costs in America.”

“Homes should be owned by people, not wealthy corporate landlords who are buying up affordable single-family homes and pushing the dream of homeownership out of reach for ordinary Americans,” said Rep. Ro Khanna (CA-17). “Affordable housing is one of the most pressing issues in my district and across the state. The Stop Wall Street Landlords Act will ensure that taxpayer dollars are not being used to fuel the housing crisis with more subsidies to corporate landlords. I’m proud to lead this effort with Representatives Porter and Takano to put affordable housing for families first.”

“As a single mom of three, it’s heartbreaking when my kids question whether they’ll be able to afford a home in the future,” said Rep. Katie Porter (CA-47). “Americans across the country, especially in my home state of California, are counting on lawmakers to lower the cost of housing. I’m helping lead the Stop Wall Street Landlords Act to crack down on wealthy corporate landlords who drive up the cost of housing and push families out of the market—all to line their own pockets. Every American deserves to have a fair shot at homeownership, and this bill will help level the playing field.”

“With big corporations and private equity using their pricing power to raise costs on everything from groceries to gas, it is no wonder they are also targeting single-family homes,” said Rep. Mark Takano (CA-39). “Not only are “Wall Street landlords driving up the cost of housing by monopolizing ownership of single-family residences, but they are doing so by using taxpayer dollars. It’s time we put the people’s bottom line first—not private equity’s. The Stop Wall Street Landlords Act, which I am proud to lead with Representatives Khanna and Porter, will keep corporations out of the single-family housing market for good.”

“Owning a home has always been a big part of the American dream,” said Rep. Bonnie Watson Coleman (NJ-12). “But because corporate investors buy up whole neighborhoods of single-family homes, leading to a rapid increase in the cost of housing, the idea of owning a home for many families across New Jersey remains just a dream. I’m proud to co-sponsor the Stop Wall Street Landlords Act to put a stop to this predatory practice, and give everyone a fair shot at a stable future for themselves and their families.”

Specifically, the Stop Wall Street Landlords Act will:
- End large institutional investors’ ability to benefit from tax breaks reserved for homeowners – namely mortgage interest, insurance, and depreciation deductions.
- Direct the Federal Housing Financial Agency (FHFA) and related agencies Fannie Mae, Freddie Mac and Ginnie Mae to (a) prohibit large institutional investors from purchasing mortgages on single-family residential (SFR) homes – or any interest in such a mortgage – and (b) from newly lending on a security or securitizing any SFR mortgage under which the mortgagee meets the bill definition of a specified large investor.
The bill makes exceptions for mom-and-pop landlords, housing providers that participate in federal affordable housing programs, nonprofits and developers committed to building and supplying affordable single-family homes to owner occupiers in the American housing market.

For the full text of the bill, click here.

Cosponsors: Representatives Chris Deluzio, Katie Porter, Mark Takano, Raúl M. Grijalva, Maxwell Alejandro Frost, Barbara Lee, Sheila Cherfilus-McCormick, Bonnie Watson Coleman, Jonathan L. Jackson.

Endorsing groups: California Democratic Renters Council, Churches United For Fair Housing, Consumer Action, Destination: Home, National Coalition for the Homeless, Private Equity Stakeholder Project, Sacramento Regional Coalition to End Homelessness.

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MIL OSI USA News –
January 25, 2025
MIL-OSI USA: Murphy, Blumenthal, Kaine Lead Colleagues In Engaging Administration On Proposal To Address Submarine Production Delays

US Senate News:

Source: United States Senator for Connecticut – Chris Murphy

October 28, 2024

WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), Richard Blumenthal (D-Conn.) and Tim Kaine (D-Va.) on Friday led a bipartisan group of their Senate colleagues in asking the Biden Administration to address funding shortfalls for submarine programs as they consider funding levels for Fiscal Year 2025. In two separate letters to Office of Management and Budget (OMB) Director Shalanda Young and Department of the Navy Secretary Carlos Del Toro, the lawmakers also urged the Administration to carefully assess the merits of the proposed Shipbuilder Accountability and Workforce Support (SAWS) agreement—which would restructure how the Navy pays for submarines—as a potential solution to address delays and get the programs back on track.
While Congress has invested over $2.3 billion between 2018 and 2023 and an additional $3 billion this year as part of a national security supplemental in the nation’s submarine industrial base, the Virginia-class and Columbia-class submarine programs face significant delays and are expected to be over budget. The on-time completion of Virginia-class submarines, which are built in Virginia and Connecticut, is especially critical to the fulfillment of the Australia-United Kingdom-United States (AUKUS) trilateral partnership, through which the United States will sell at least two submarines to Australia to bolster security in the Indo-Pacific.
“The United States’ submarine programs provide our nation an undersea advantage that is critical to our national security,” the members wrote. “Based on the information available so far, the Shipbuilder Accountability and Workforce Support (SAWS) agreement strikes us as a promising approach to ensure our submarine industrial base rises to the occasion, accelerates submarine production, and fully meets the critical and building demand on U.S. shipyards… We request that you give all due consideration to this initiative, while ensuring it includes the accountability and leverage measures necessary to ensure our federal investments in submarine production go as far as possible in getting these critical programs on track.”
The members continued: “It is our understanding that over months of conversation Pentagon leadership, the Navy, and industry reached an agreement to maximize use of taxpayer funding for construction of the next tranche of Columbia-class and Virginia-class submarines – including by raising wages to attract and retain America’s skilled and organized shipyard workforce, addressing rising costs, and advancing much-needed infrastructure investments, all to improve program reliability and schedule.”
“We therefore urge more consistent communication with Congress and with OMB so that all parties clearly understand the Navy’s position on SAWS and overall plans to get our nation’s submarine production on track,” the members concluded. “It is critical that our submarine programs be on schedule and on budget.”
U.S. Senators Jeanne Shaheen (D-N.H.), Angus King (I-Maine), Kevin Cramer (R-N.D.), and Mark R. Warner (D-Va.) also signed the letter.
The letter to OMB is available here. The letter to the Navy is available here.

MIL OSI USA News –

January 25, 2025
MIL-OSI Russia: Financial news: 10/28/2024, 17:55 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for security RU000A108124 (RZhD 1P-31R) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

10/28/2024

17:55

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 10/28/2024, 17:55 (Moscow time), the values of the upper limit of the price corridor (up to 94.43) and the range of market risk assessment (up to 1053.67 rubles, equivalent to a rate of 27.5%) of the security RU000A108124 (RZhD 1P-31R) were changed.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

https://www.moex.com/n74353

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: Financial news: Two deposit auctions of JSC “KAVKAZ.RF” will be held on 10/29/2024

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

Parameters;

The date of the deposit auction is 29.10.2024. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 50,000,000.00. The placement period, days is 6. The date of depositing funds is 30.10.2024. The date of return of funds is 05.11.2024. The minimum placement interest rate, % per annum is 20.00. The terms of the conclusion are urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 50,000,000.00. The maximum number of applications from one Participant, pcs. 1. Auction form is open or closed (Open). The basis of the Agreement is the General Agreement. Schedule (Moscow time). Applications in preliminary mode from 10:30 to 10:40. Applications in competition mode from 10:40 to 10:45. Setting the cut-off percentage or declaring the auction invalid before 10:55.

Additional terms

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

https://www.moex.com/n74357

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: Financial news: Conference “Ethics and AI: on the edge of technology and human values” was held with the support of the Moscow Exchange

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

On October 24–25, 2024, the annual conference “Ethics and AI: on the Edge of Technology and Human Values” was held, organized by the Institute of Compliance and Business Ethics of the Higher School of Law at the National Research University Higher School of Economics with the support of the Moscow Exchange.

The conference was attended by experts in the field of compliance, including representatives of regulators and major domestic companies, as well as scientific and professional communities.

The conference discussed global trends in compliance and the use of artificial intelligence technologies to automate it. An exchange of practical developments and innovative solutions in the field of compliance took place, and changes in the regulatory environment were analyzed.

Irina Grekova, Managing Director for Compliance and Business Ethics at Moscow Exchange:

“The Russian compliance community continues to actively develop, adapting to modern realities and implementing best practices. Strengthening interaction between business, government agencies and expert organizations remains an important area. The conference once again confirmed that compliance today has become a full-fledged interdisciplinary science that requires the involvement of specialists of different levels: lawyers, economists, IT specialists and ethics specialists. All of them are developing their field, and by combining efforts, they provide a synergy effect in protecting and developing business. Moscow Exchange Group pays special attention to issues of increasing the transparency and efficiency of internal control procedures, as well as training employees and raising their awareness of compliance with regulatory requirements. In addition, we are expanding the use of digital tools to optimize compliance processes, which allows us to promptly identify potential threats and prevent violations of the law.”

The conference included an award ceremony for the winners of the Compliance 2024 award. The award’s expert council awarded:

Alfa-Bank – for the best EdTech solution in business education on compliance topics for entrepreneurs; MTS – for the use of modern technologies in creating the methodology and tools for managing SCM; B1 Group of Companies – for creating its own best compliance practices in the changing conditions in the field of professional audit services; KSK LLC – for its original approach to implementing a compliance culture taking into account limitations and opportunities; Anton Kuznetsov, Deputy Director of the Anti-Corruption Policy and Corporate Ethics Department at NOVATEK – for a proactive response to modern challenges and threats; Oksana Kaminskaya, Chairperson of the AML/CFT Committee at the Association of Belarusian Banks – for the effective implementation of compliance practices in the financial sector in the Republic of Belarus; Daria Afanasyeva, leading specialist of the Competence and Corruption Prevention Center of ANO Moscow Directorate of Transport Services – for an inspiring start in compliance.

The Moscow Exchange Group operates the only multifunctional exchange platform in Russia for trading shares, bonds, derivatives, currencies, money market instruments and commodities. The Group includes a central depository and a clearing center that acts as a central counterparty in the markets, which allows Moscow Exchange to provide its clients with a full cycle of trading and post-trading services.

Contact information for media 7 (495) 363-3232PR@moex.com

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

https://www.moex.com/n74360

MIL OSI Russia News –

January 25, 2025
MIL-OSI USA: Rep. Cuellar Announces $2,690,608 in Federal Funding in Support of Mental Health Professionals for San Antonio Independent School District

Source: United States House of Representatives – Congressman Henry Cuellar (TX-28)

SAN ANTONIO, TX – Today, Congressman Henry Cuellar (TX-28), Ph.D. announced $2,690,608 in federal funding in support of mental health professionals for the San Antonio Independent School District (SAISD).

“This year, I secured $2,690,608 in federal funding from the Department of Education’s Mental Health Service Professional Demonstration Grant for the San Antonio Independent School District,” said Dr. Cuellar, a Senior Member of the House Appropriations Committee. “Our communities need more licensed mental health professionals, and SAISD is helping train the next generation of this crucial sector in San Antonio. I would like to thank Stephanie Ratliff, Principal of Herff Elementary, Tony Thompson, Chief of Staff for SAISD, and Gabriella Bello, Counselor for SAISD, for being here today and for their efforts in providing mental health resources for students in San Antonio.”

This funding supports a five-year project, Con Cariño: School Mental Health with Heart, which assists with SAISD’s internship-to-employment pipeline for licensed Master Social workers by adding a new pathway for counseling interns.

There is a demand for more licensed mental health professionals in SAISD. The grant funding for the Con Cariño project supports four social work interns and two school psychology counseling interns that will help meet this demand.

As part of the Con Cariño project, local graduate students can work with children, gain real-world experience to advance their careers, and get paid to do so. The program also helps with the costs of licensing exams and their preparation. Some interns have returned to work full-time after completing their internships, helping SAISD retain a workforce that understands the community and the needs of its students.

Congressman Cuellar has previously helped SAISD by securing $36,511,343 in federal funding for school lunch reimbursements in 2023, $344,000 in federal funding from the Title I, School Improvement Grant in FY24, and $494,304 in federal funding from the FY22 COPS School Violence Prevention Program.

Congressman Cuellar will continue to support San Antonio schools with the federal funding they need for more mental health resources.

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: NASA’s Perseverance Rover Looks Back While Climbing Slippery Slope

Source: NASA

On its way up the side of Jezero Crater, the agency’s latest Red Planet off-roader peers all the way back to its landing site and scopes the path ahead.
NASA’s Perseverance Mars rover is negotiating a steeply sloping route up Jezero Crater’s western wall with the aim of cresting the rim in early December. During the climb, the rover snapped not only a sweeping view of Jezero Crater’s interior, but also imagery of the tracks it left after some wheel slippage along the way.

Stitched together from 44 frames acquired on Sept. 27, the 1,282nd Martian day of Perseverance’s mission, the image mosaic features many landmarks and Martian firsts that have made the rover’s 3½-year exploration of Jezero so memorable, including the rover’s landing site, the spot where it first found sedimentary rocks, the location of the first sample depot on another planet, and the final airfield for NASA’s Ingenuity Mars Helicopter. The rover captured the view near a location the team calls “Faraway Rock,” at about the halfway point in its climb up the crater wall.
“The image not only shows our past and present, but also shows the biggest challenge to getting where we want to be in the future,” said Perseverance’s deputy project manager, Rick Welch of NASA’s Jet Propulsion Laboratory in Southern California. “If you look at the right side of the mosaic, you begin to get an idea what we’re dealing with. Mars didn’t want to make it easy for anyone to get to the top of this ridge.”
Visible on the right side of the mosaic is a slope of about 20 degrees. While Perseverance has climbed 20-degree inclines before (both NASA’s Curiosity and Opportunity rovers had crested hills at least 10 degrees steeper), this is the first time it’s traveled that steep a grade on such a slippery surface.

[embedded content]
This animated orbital-map view shows the route NASA’s Perseverance Mars rover has taken since its February 2021 landing at Jezero Crater to July 2024, when it took its “Cheyava Falls” sample. As of October 2024, the rover has driven over 30 kilometers (18.65 miles), and has collected 24 samples of rock and regolith as well as one air sample. NASA/JPL-Caltech

Soft, Fluffy
During much of the climb, the rover has been driving over loosely packed dust and sand with a thin, brittle crust. On several days, Perseverance covered only about 50% of the distance it would have on a less slippery surface, and on one occasion, it covered just 20% of the planned route.
“Mars rovers have driven over steeper terrain, and they’ve driven over more slippery terrain, but this is the first time one had to handle both — and on this scale,” said JPL’s Camden Miller, who was a rover planner, or “driver,” for Curiosity and now serves the same role on the Perseverance mission. “For every two steps forward Perseverance takes, we were taking at least one step back. The rover planners saw this was trending toward a long, hard slog, so we got together to think up some options.”
On Oct. 3, they sent commands for Perseverance to test strategies to reduce slippage. First, they had it drive backward up the slope (testing on Earth has shown that under certain conditions the rover’s “rocker-bogie” suspension system maintains better traction during backward driving). Then they tried cross-slope driving (switchbacking) and driving closer to the northern edge of “Summerland Trail,” the name the mission has given to the rover’s route up the crater rim.

Data from those efforts showed that while all three approaches enhanced traction, sticking close to the slope’s northern edge proved the most beneficial. The rover planners believe the presence of larger rocks closer to the surface made the difference.
“That’s the plan right now, but we may have to change things up the road,” said Miller. “No Mars rover mission has tried to climb up a mountain this big this fast. The science team wants to get to the top of the crater rim as soon as possible because of the scientific opportunities up there. It’s up to us rover planners to figure out a way to get them there.”
Tube Status
In a few weeks, Perseverance is expected to crest the crater rim at a location the science team calls “Lookout Hill.” From there, it will drive about another quarter-mile (450 meters) to “Witch Hazel Hill.” Orbital data shows that Witch Hazel Hill contains light-toned, layered bedrock. The team is looking forward to comparing this new site to “Bright Angel,” the area where Perseverance recently discovered and sampled the “Cheyava Falls” rock.

The rover landed on Mars carrying 43 tubes for collecting samples from the Martian surface. So far, Perseverance has sealed and cached 24 samples of rock and regolith (broken rock and dust), plus one atmospheric sample and three witness tubes. Early in the mission’s development, NASA set the requirement for the rover to be capable of caching at least 31 samples of rock, regolith, and witness tubes over the course of Perseverance’s mission at Jezero. The project added 12 tubes, bringing the total to 43. The extras were included in anticipation of the challenging conditions found at Mars that could result in some tubes not functioning as designed.
NASA decidedto retire two of the spare empty tubes because accessing them would pose a risk to the rover’s small internal robotic sample-handling arm needed for the task: A wire harness connected to the arm could catch on a fastener on the rover’s frame when reaching for the two empty sample tubes.
With those spares now retired, Perseverance currently has 11 empty tubes for sampling rock and two empty witness tubes.
More About Perseverance
A key objective of Perseverance’s mission on Mars is astrobiology, including caching samples that may contain signs of ancient microbial life. The rover will characterize the planet’s geology and past climate, to help pave the way for human exploration of the Red Planet and as the first mission to collect and cache Martian rock and regolith.
NASA’s Mars Sample Return Program, in cooperation with ESA (European Space Agency), is designed to send spacecraft to Mars to collect these sealed samples from the surface and return them to Earth for in-depth analysis.
The Mars 2020 Perseverance mission is part of NASA’s Moon to Mars exploration approach, which includes Artemis missions to the Moon that will help prepare for human exploration of the Red Planet.
NASA’s Jet Propulsion Laboratory, which is managed for the agency by Caltech, built and manages operations of the Perseverance rover.
For more about Perseverance:
https://science.nasa.gov/mission/mars-2020-perseverance
News Media Contacts
Karen Fox / Molly WasserNASA Headquarters, Washington202-358-1600karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov
DC AgleJet Propulsion Laboratory, Pasadena, Calif.818-393-9011agle@jpl.nasa.gov
2024-146

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: An Opportunity to Study Water

Source: NASA

NASA astronaut Don Pettit fills a sphere of water with food coloring in this image from Oct. 20, 2024. Pettit calls experiments like these “science of opportunity” – moments of scientific exploration that spontaneously come to mind because of the unique experience of being on the International Space Station. During his previous missions, Pettit has contributed to advancements for human space exploration aboard the International Space Station resulting in several published scientific papers and breakthroughs.
See other inventive experiments Pettit has conducted.
Image credit: NASA/Don Pettit

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: USGS awards $2.5 million to state geological surveys for mine waste projects
Source: US Geological Survey

The data collection will be conducted through the USGS Earth Mapping Resources Initiative (Earth MRI), a partnership between the USGS and state geological surveys that is revolutionizing our understanding of the nation’s geology and domestic mineral resources, both in the ground and in mine waste.

Since 2021, the Bipartisan Infrastructure Law (BIL) has advanced scientific innovation through a $320 million investment for the USGS to better map the Nation’s mineral resources, and to preserve historical geologic data and samples. Through the end of fiscal year 2024, more than $160 million has been obligated for Earth MRI initiatives, propelling efforts to make “once-in-a-generation” advancements in the nation’s geologic and geophysical data collections and mapping.

This funding opportunity has initiated the above-ground portion of Earth MRI BIL-funded priorities by supporting state geological surveys in coordinated activities to map, characterize, and assess the potential for critical minerals in mine waste.

The data will also contribute to the first-ever National Mine Waste Inventory, a tool that will support other state, federal, and tribal agencies responsible for land management planning and remediation decisions.

“In order to answer the questions of where, what, and how much mine waste materials are present that contain critical and other valuable minerals, we need to know exactly how much mine waste we have,” said Darcy McPhee, USGS Earth MRI program manager and geophysicist. “This effort will allow us and our partners at the state geological surveys to take stock of these resources.”

Using USGS-developed sampling protocols, the projects will focus on field sampling of mine waste to determine critical mineral composition and answer scientific questions such as:
- How many mine waste sites are there in the United States, and where are they located?
- How much material is available that may contain critical mineral resources?
- What factors may influence recovery of the critical mineral commodities and what are the environmental risks associated with potential extraction and cleanup efforts?
The eight awarded Mine Waste characterization projects include:

State geological survey: California Geological Survey

Project: Characterization of mine waste for critical minerals in the eastern California tungsten focus area

State geological survey: Illinois State Geological Survey:

Project: Characterization of mine waste tailings piles of the Illinois-Kentucky Fluorspar District

State geological survey: Michigan Geological Survey

Project: Critical minerals waste pile sampling in the Upper Peninsula, Michigan

State geological survey: Missouri Geological Survey

Project: Mine waste characterization of Missouri Old Lead Belt Chat piles – Bonne Terre, National, and River Mines Sites

State geological survey: New Mexico Bureau of Geology and Mineral Resources

Project: Mine wastes in southwestern New Mexico

State geological survey: Nevada Bureau of Mines and Geology

Project: Geochemical characterization of Nevada’s mine waste sites

State geological survey: Oklahoma Geological Survey

Project: Mine waste characterizations at Oklahoma’s Tar Creek superfund site

State geological survey: Utah Geological Survey

Project: Mine waste characterization in the greater Tintic mining area

The following nine states were awarded funds to support the National Mine Waste Inventory: Arizona, Idaho, Illinois, New Mexico, Nevada, Oregon, Texas, Utah, and Washington.

In addition to the above, the following states were awarded funds to participate in the Annual Earth MRI Workshop, hosted by the USGS in Reston, Virginia, where USGS and State geological surveys come together to plan for future data collection efforts: Alabama, Iowa, Maryland, Montana, North Carolina, Nebraska, Pennsylvania, South Carolina, Virginia, Wisconsin, West Virginia, and Wyoming.

MIL OSI USA News –
January 25, 2025
MIL-OSI: Fresche Solutions Introduces AI-Celerate to Power the IBM i Community on Their Enterprise AI Journeys

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, Oct. 28, 2024 (GLOBE NEWSWIRE) — Fresche Solutions (“Fresche”, “Company”), a global leader in IBM i management and modernization, proudly introduces AI-Celerate, a 12-week strategic advisory framework to enable organizations to design an enterprise AI technology roadmap tailored for IBM i systems and beyond.

This groundbreaking advisory service propels business transformation through the strategic adoption of artificial intelligence. AI-Celerate centers on personalized AI assessments, strategies, and roadmaps that resonate with each organization’s unique needs and digital ambitions.

“AI has become a transformative force, and many businesses strive to integrate it effectively and measure ROI,” stated Joe Zarrehparvar, CEO of Fresche Solutions. “With experience serving over 2500 customers globally, our team at Fresche understands the market dynamics and challenges IBM i organizations face in adopting AI into their business processes. AI thrives on data and IBM i environments provide exactly that – rich, historical data that help drive meaningful AI initiatives. We’ve already seen considerable engagement from our customers on how to strategically use their IBM i’s vast data to power their AI engine. AI-Celerate guides executives through AI adoption complexities, prioritizing alignment with each customer’s unique technology roadmap and digital transformation goals. I am confident this momentum will continue to grow,” added Zarrehparvar.

“IBM i serves as a robust and versatile foundation for AI applications, offering unmatched stability and flexibility for integration. While consistent, high-quality data is essential for AI success. IBM i’s architecture provides the reliability and security needed to maintain data integrity and ensure businesses can confidently scale AI initiatives,” said Monica Sanchez, VP, Strategic Transformation, Fresche Solutions. “This combination of advanced data handling, security, and performance positions AI and IBM i as a powerful pairing that can transform how businesses operate, compete, and innovate,” stated Sanchez.

AI-Celerate is a proprietary strategic advisory framework for Enterprise AI, from discovery and business case to adoption of a technology roadmap. It empowers informed decision-making and ensures successful AI integration to pave the way for future growth.

On November 19^th, the Company is set to introduce AI-Celerate with a live webinar featuring Chris Koppe, SVP, Strategic Advisory Services and Monica Sanchez, VP, Strategic Transformation. Register here to save your seat and be part of this exclusive session.

For a deep dive on how to accelerate your organization’s Enterprise AI journey, don’t miss our white paper, Enterprise AI for IBM i: Craft an AI Transformation Strategy for Growth.

ABOUT FRESCHE SOLUTIONS
Pioneers in IT modernization, Fresche manages, modernizes, and maximizes the value of IBM i business critical systems. Our winning IP and proven solutions in Modernization, Cloud, Software and Application Services, and Strategy have earned the trust of global leaders from 2500+ companies. Transform your IT challenges into future growth and innovation with Fresche Solutions. Learn more at www.freschesolutions.com.

Media Contact:
Aneta Ranstoller
VP, Marketing
Fresche Solutions Inc.
aneta.ranstoller@freschesolutions.com
+1 800 361 6782

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87800e5d-241a-4405-acb4-0a14645dc66e

The MIL Network –

January 25, 2025
MIL-OSI Economics: Streamline collaboration with new chat and channels experience in Microsoft Teams

Source: Microsoft

Headline: Streamline collaboration with new chat and channels experience in Microsoft Teams

Working together can turn great ideas into reality and bring people together as a team. We’ve been paying attention to our customers’ evolving needs in the AI-powered workplace, which require faster, simpler, and smarter solutions to achieve more. Over the past year, we’ve made Microsoft Teams twice as fast and added new features like intelligent recap for meetings; custom emojis for fun and expression; co-editable code blocks for developers; “Meet now” for quick, informal huddle in chat; and more.

We’re thrilled to announce the next step in our journey to shape the future of collaboration with the introduction of the new chat and channels experience. This new experience is designed to help you collaborate more efficiently and effectively. It’s simple by default, enabling everyone to stay on top of what matters, and it’s powerful on demand, allowing you to organize information and communicate your way. The new chat and channels experience is coming to public preview in November.

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“The redesigned Microsoft Teams chat & channels experience has simplified the way we work at T‑Mobile. It has streamlined our communication, and our employees appreciate the flexibility to customize Teams to match the way they like to collaborate.”

—Aravind Manchireddy, SVP, Technology Operations, T‑Mobile

Simple by default

The pace of work has increased exponentially, making it more challenging to keep up with the high volume of conversations, manage messages scattered across different locations, and find information. We’ve redesigned the chat and channels experience to simplify your digital workspace by bringing chats, teams, and channels into one place under Chat. This integrates both chat and channels into your critical workflows, making it easier to access, triage, and organize your conversations.

At launch, a self-service, guided onboarding flow within the product will help users discover the new experience and configure it to their preferences. Users who prefer to keep chat and channels separate can easily do so during the onboarding process, or at any time later, without needing IT assistance.

The new @mentions view helps you get up to speed on messages directed at you in one place, ensuring conversations that require your attention do not slip through the cracks. Breeze through your daily triage with the new filters that help you focus on what’s important now, like unread messages in chats or channels, without muted conversations or meeting chats getting in the way. Catch up asynchronously on meeting chats at your convenience with Copilot meeting recap.

Powerful on demand

Communicating and collaborating with multiple people on multiple projects can feel like trying to keep your desk or office organized. Just as a cluttered workspace can make it harder to find what you need and stay productive, a busy digital workspace can make it challenging to catch up, find information, and stay effective throughout the day. The new chat and channels experience in Teams empowers you to organize your work environment to fit your needs. With custom sections, you can bring all relevant conversations on a project or topic together into one place, be it in chats, channels, meetings, including Teams bots or AI agents. The new favorites section is available for everyone by default, bringing together all your pinned chats and channels from the previous experience.

Every user has a unique way of working. Now, you can customize Teams chat and channels to align with your personal workflow and preferred information consumption style. With new controls, you can choose to view chat and channels separately, see message previews, or display all channels in a single list. This way, you create a digital workspace that truly helps you soar.

See what’s next for the new chat and channels experience in Teams

Embark on your journey with the new chat and channels experience today and transform the way you connect, focus, and collaborate. Join hundreds of customers like VML, who are using the new chat and channels experience as part of the Teams private preview program.

Your work isn’t limited to just a desktop, so we’re excited to bring the new chat and channels experience to all devices for seamless productivity. This is coming to desktop, mobile, iOS, and Android, ensuring you can stay connected and efficient wherever you are.

We’re just getting started, and we’re committed to making Teams more streamlined and simpler with enhancements like threaded conversations. We’re beginning to test threaded conversations with customers this quarter and will expand testing in early 2025, with broad availability expected in mid-2025.

To learn more and deep dive into the full list of features, visit the Tech Community blog and the new Microsoft Adoption page. Customers with access to Teams public preview will be able to try out the new interface starting in November 2024. To activate, choose “Get started” when you see the welcome screen for the new chat and channels experience.

For the latest research insights on the future of work and generative AI, visit WorkLab.

MIL OSI Economics –

January 25, 2025
MIL-OSI Economics: New Home experience in the Xbox app on Windows now available for Xbox Insiders

Source: Microsoft

Headline: New Home experience in the Xbox app on Windows now available for Xbox Insiders

Starting today, we are excited to announce that a new Home experience is available in the Xbox app on Windows for Xbox Insiders! We are improving the Xbox app on Windows by making it faster and easier to find your next favorite game. We’ve listened to your feedback and have been testing different designs internally over the last several months. Our goal is to create a unified Home experience that combines the best and latest content from both the Game Pass and Microsoft Store tabs, so you can easily find what you love without having to jump between tabs.

All Xbox players on Windows will benefit from Home, whether you play with Game Pass or purchase your games individually. Home brings you the latest games, news, curated recommendations, free-to-play content, and deals.

Check out the new Home tab and let us know your thoughts by completing this short 2-minute survey available here. Your feedback will be used to inspire future updates and plans as we continue to evolve.

Now, let’s take a look at some of the updates that you can expect to see in Home starting today.

New Home highlights

Featured content. At-a-glance view for you stay up to date on exciting game releases, new events, content available with Game Pass, sales, and more!

Deals and discounts. No more navigating through the app to find the latest deals and discounts. The new Home will now have collections with the best deals and discounts to make sure you can see available savings at a glance.

Note: Prices shown are for illustrative purpose only and may vary.

Curated collections and recommendations. Find games that are perfect for you with collections curated and personalized for you. Spend less time searching and more time playing games.

Note: Prices shown are for illustrative purpose only and may vary.

Jump back in (available with compact mode). In May, we tested Jump back in as part of the Game Pass tab experience. This feature allows players in Compact Mode to click on any game card shown, allowing them to go directly to its game hub, where you can jump right back into game play. Today, we are excited to add this feature as part of the new Home experience for all Xbox Insiders.

How to get Xbox Insider support and share your feedback

If you’re an Xbox Insider looking for support, please join our community on the Xbox Insider subreddit. Official Xbox staff, moderators, and fellow Xbox Insiders are there to help. We recommend adding to threads with the same topic before posting a brand new one. This helps us support you the best we can! Also, you can provide direct feedback to Team Xbox by following the steps here under the “Report a problem online” section.

If you aren’t part of the Xbox Insider Program yet and want to help create the future of Xbox and get early access to new features, join the Program today by downloading the Xbox Insider Hub for Xbox Series X|S & Xbox One or Windows PC.

For more information on the Xbox Insider Program, follow us on Twitter at @XboxInsider. Keep an eye on future Xbox Insider Release Notes for more information regarding the PC Gaming Preview.

Note: This feature is being made available to Xbox Insiders enrolled in the PC Gaming Preview.

MIL OSI Economics –

January 25, 2025
MIL-OSI Global: Alberta’s impending anti-2SLGBTQIA+ legislation is stoking fear and anxiety

Source: The Conversation – Canada – By Corinne L. Mason, Professor, Women’s and Gender Studies, Mount Royal University

The Alberta Legislature has reconvened for its fall sitting, and the United Conservative Party is expected to table new anti-2SLGBTQIA+ legislation that will restrict trans women and girls’ access to sports, curtail inclusive education and ban youth from accessing gender affirming care.

Some of the potential measures include banning puberty blockers for youth, and having parents opt-in for their children to be present for formal lessons on sexual health. In addition, trans women could be banned from competing in women’s sports.

In February, when Alberta Premier Danielle Smith first announced these policies, she was riding the wave of the “parental rights” movement. Smith framed these policies as the government protecting children from harm, telling the media that she was “sympathetic to parents who want to preserve the innocence of their kids for as long as they can.”

The parental rights movement has reintroduced homophobic and transphobic narratives from the 1970s that position 2SLGBTQIA+ people as pedophiles and “groomers” who “recruit” children. According to parental rights proponents, kids have to be protected from “gender indoctrination.” This hate movement has led to violent attacks against 2SLGBTQIA+ communities, such as bomb threats targeting drag performers at library storytimes.

Despite growing awareness that “parental rights” proponents are connected to a larger network of dangerous hate groups including the Proud Boys, The Patriot Front and the neo-Nazi group Blood Tribe, provincial conservative governments and parties in New Brunswick, Saskatchewan, Alberta and British Columbia have introduced anti-2SLGBTQIA+ policies inspired by this movement.

As concerned parents, we have been following how the “parental rights” movement is influencing provincial government policies. As researchers, we have been publishing our analysis about the rise in anti-2SLGBTQIA+ sentiments in Alberta for the past two years.

In early 2024, Alberta Premier Danielle Smith announced her government will implement new policies relating to transgender youth.

Our conversations with parents

As the parental rights movement and associated anti-2SLGBTQIA+ legislation are new, scholars and other organizations are just beginning to publish findings showing the harm they have created. For example, a recently published academic study from the United States found that in states where anti-transgender laws legislation has been enacted, suicide attempts among transgender and non-binary youth have increased by up to 72 per cent.

Academic scholarship about the impact of anti-2SLGBTQIA+ legislation in Canada does not yet exist. This gap in knowledge motivated us to undertake a research project that could capture the experiences of parents as this new “parental rights” legislation rolls out.

Set in Calgary, Alberta, our ongoing study involves 10 parents from 2SLGBTQIA+ families who have committed to bi-monthly focus groups over the period of a year. By facilitating conversations with parents, our aim is to track the short and long-term impacts of the anti-2SLGBTQIA+ climate in Alberta. The participants in our study are a mix of straight, cisgender, queer and trans parents. All of them are already experiencing the negative outcomes of Alberta’s move to legislate 2SLGBTQIA+ lives.

Below, we have used pseudonyms to protect their identities.

We held our first focus group in late September 2024 where we asked participants about their concerns related to the impending changes to education, health care and sports in the province. We also asked parents what they knew about the parental rights movement, and how the rhetoric of parental rights is affecting their families.

One of the overwhelming sentiments of the parents was that the parental rights movement excluded parents of 2SLGBTQIA+ kids. According to our participants, voices of 2SLGBTQIA+ parents and families are missing or silenced in the conversations around “protecting children.”

One participant, Maia, said: “There needs to be more representation of the parents especially because it’s a legislation that’s being fought on behalf of parents so we need to make our voices heard.”

Olivia similarly stated, “I feel like people keep talking for parents. I’m a parent and you’re not saying anything I think … so I just feel very unheard.”

When it came to parental rights, participants remarked that their parental choice to support their 2SLGBTQIA+ kids is not being protected. In fact, they felt their responsibility to protect their children from harm is being taken away by the provincial government that is making choices for their families.

Courtney stated: “It makes me really angry that our kid’s medical care can be adjusted based on the government. I work in health care. The thought that the government could step in and get a doctor to go against evidence-based medical care is … insanity.”

2SLGBTQIA+ youth express fear

According to the parents in our study, the impending legislation has stoked so much fear and anxiety in their children that their school experiences have already been negatively affected. Courtney’s trans child has missed a large chunk of school since the announcement of impending anti-2SLGBTQIA+ policies last February.

Another parent, Sophia, told us that her teenager’s overall well-being has “deteriorated” since the impending legislation was announced: “She has started self harming. She is missing school. She is terrified for what’s coming … even though she knows that for her she’s somewhat protected with her HRT [hormone replacement therapy], but it doesn’t mean that they’re not going to say something about bathrooms or that her friends are safe.”

Saskatchewan’s Conservative Premier Scott Moe recently promised to implement a new policy that would ban trans girls from school change rooms. In Alberta, the UCP’s policy resolutions for 2024 include a similar ban, but instead of focusing on schools, the party aims to remove trans women and girls from all “exclusively female spaces.”

Our research, while preliminary, demonstrates that harmful effects are already taking shape in Alberta, and parents in 2SLGBTQIA+ families are terrified of what is coming with the legislation dropping soon.

As we map the fallout of Alberta’s anti-2SLGBTQIA+ legislation over the next year, we expect to collect similar findings to that of our U.S. research counterparts who are publishing evidence that these policies are associated with adverse consequences to mental and physical well-being.

Corinne L. Mason receives funding from the Social Sciences and Humanities Research Council of Canada.

Leah Hamilton receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. Alberta’s impending anti-2SLGBTQIA+ legislation is stoking fear and anxiety – https://theconversation.com/albertas-impending-anti-2slgbtqia-legislation-is-stoking-fear-and-anxiety-241874

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI United Kingdom: Over £1 billion to boost bus services across the country as bus fares capped at £3
Source: United Kingdom – Executive Government & Departments

The £3 fare cap will keep bus travel affordable while ensuring it is fair to taxpayers.
single bus fares to be capped at £3 until the end of 2025, ensuring services remain affordable and supporting travel in rural areas and towns

fare cap extension comes on top of nearly £925 million invested to deliver high quality services and protect vital bus routes up and down the country

part of government plans to end the postcode lottery of bus services, ensure access to opportunities and deliver growth

Millions of people will enjoy better bus services as the government invests over £1 billion to protect vital bus routes and cap bus fares, particularly in rural communities and towns where there is a heavy reliance on buses.

Prime Minister Keir Starmer confirmed today (28 October 2024) that bus travel will be kept down at £3 at the Budget for an additional year – saving up to 80% on some routes.

Under the inherited plans, funding for the current cap on bus fares had been due to expire at the end of 2024, with fares set to soar by as much as £13 for the Leeds to Scarborough route, unless the government intervened to keep fares down.

The government’s announcement will ensure fares remain affordable from 1 January 2025 and prevent a financial cliff-edge for bus operators that would have seen vital services put at risk across the country.

The £3 maximum fare cap will keep bus travel affordable while ensuring the cap is fair to taxpayers, helping millions of people access better opportunities and protect vital bus routes, particularly lifeline services in rural communities.

The cap means no bus fare will exceed £3, and routes where fares are less than £3 will only be allowed to increase by inflation in the normal way. Local authorities and Metro Mayors can also fund their own schemes to keep fares down, as is already the case in London, West Yorkshire and Manchester.

Some of the biggest bus savings on some key routes up and down the country include:

Journey Normal fare Amount save under £3 cap % saving under £3 cap

Newcastle to Middlesbrough £8.00 £5.00 63%

Hull to York £8.50 £5.50 65%

Leeds to Scarborough £15.00 £12.00 80%

The cap is being funded by £151 million from government until the end of 2025. It comes as the Department for Transport confirms an additional £925 million for the 2025 to 2026 financial year to improve bus services across the country, bringing total bus investment at the Budget to over £1 billion.

Local authorities can use the £925 million to introduce new bus routes, make services more frequent and protect crucial bus routes for local communities.

Moving forward, the government will also explore more targeted options that deliver value for money to the taxpayer to ensure affordable bus travel is always available for the groups who need it the most – such as young people.

Transport Secretary Louise Haigh said:

Buses are the engines of economic opportunity across the country.

We know that reliable, affordable bus services are vital to keeping Britain moving. That’s why the government will cap fares at £3 for an additional year and provide over £1 billion to deliver better bus services.

This will avoid a cliff-edge at the end of this year and keep fares affordable across the country – improving access to opportunities, particularly in towns and rural areas, while offering value for the taxpayer.

Our bus revolution will give every community the power to take back control of their services, end the postcode lottery of services and turn the page on 4 decades of failed deregulation.

The move comes ahead of the new Buses Bill, to be introduced later this parliamentary session, which will help bring an end to the current postcode lottery of bus services by empowering local authorities to deliver modern and integrated bus networks that put passengers at the heart of local decision making.

The bill will mean local transport authorities can emulate the huge success of publicly controlled buses in Greater Manchester and London. Greater Manchester’s successful Bee Network has already seen passenger numbers grow by 5% since public control began to be rolled out just a year ago.

Buses remain the most used form of public transport across the country, but – after almost 4 decades of failed deregulation – thousands of vital services have been slashed, with passengers left frustrated at the lack of accountability.

Since 2010, the number of miles driven by buses has plummeted by around 300 million. The transformative work this government is doing will turn the tide by giving communities access to reliable and affordable services and the opportunity to have a real say in building local transport networks that work for them.

David Sidebottom, director at the independent watchdog Transport Focus, said:

We know that bus passengers want simpler, better value for money fares and buses provide a lifeline for so many people up and down the country. Our research shows the fare cap is having a big impact in helping more people get around by bus.

We welcome the wider investment in services, and the announcement of a new £3 cap on bus fares will provide certainty for many people who are struggling and worried about the cost of travel.

Roads media enquiries

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Published 28 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI: Skyward Specialty Announces Time Change for Third Quarter Earnings Call on Wednesday, October 30, 2024

Source: GlobeNewswire (MIL-OSI)

HOUSTON, Oct. 28, 2024 (GLOBE NEWSWIRE) — Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) (“Skyward Specialty” or “the Company”) today announced a time change of its previously announced third quarter earnings call. The conference call and webcast will still be held on Wednesday, October 30, but will now begin at 9:30 a.m. EDT, rather than the previously scheduled time of 8:30 a.m EDT.

As previously communicated, Skyward Specialty will issue its third quarter 2024 earnings results after the market closes on Tuesday, October 29. The earnings results will be available on the Company website at investors.skywardinsurance.com/ under Quarterly Results.

Investors may access the live audio webcast via the link on the Company’s investor site at investors.skywardinsurance.com/ under Events & Presentations. Additionally, investors can access the earnings call via conference call by registering via the conference link. Users will receive dial-in information and a unique PIN to join the call upon registering.

A webcast replay will be available two hours following the call in the same location on the Company’s investor website.

About Skyward Specialty

Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions — Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.

Skyward Specialty’s subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A (Excellent) with a stable outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.

For investor relations information contact:

Natalie Schoolcraft
nschoolcraft@skywardinsurance.com
614-494-4988

The MIL Network –

January 25, 2025
MIL-OSI Security: Twillingate — Twillingate RCMP investigates break, enter and theft at Gary’s Irving in Summerford, man arrested

Source: Royal Canadian Mounted Police

Following a break, enter and theft that occurred on October 26, 2024, at Gary’s Irving in Summerford, 41-year-old Adam Boyde was arrested by Twillingate RCMP.

The crime occurred at approximately 2:45 a.m. on October 26. The front door glass was smashed and a quantity of alcohol and cigarettes were stolen from inside. Evidence obtained during the investigation identified the suspect as Adam Boyde, who was arrested later that day.

Boyde is charged with break, enter and theft and is set to appear in court at a later date.

RCMP NL continues to fulfill its mandate to protect public safety, enforce the law, and ensure the delivery of priority policing services in Newfoundland and Labrador.

MIL Security OSI –

January 25, 2025

Journey	Normal fare	Amount save under £3 cap	% saving under £3 cap
Newcastle to Middlesbrough	£8.00	£5.00	63%
Hull to York	£8.50	£5.50	65%
Leeds to Scarborough	£15.00	£12.00	80%

MIL-OSI: Coface SA: Fitch affirms Coface AA- rating, with ‘stable’ outlook

Source: GlobeNewswire (MIL-OSI)

Fitch affirms Coface AA- rating, with ‘stable’ outlook

Paris, 28 October 2024 – 18.45

The rating agency Fitch affirmed today Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.

Fitch has also affirmed Coface SA’s Long-Term Issuer Default Rating (IDR) at ‘A+’, with a stable outlook.

The rating action reflects “Coface’s very strong company profile and capitalisation, as well as a strong profitability through the cycle”. The stable outlook reflects Fitch’s view that “Coface continues to maintain sufficient rating headroom to withstand weaker macro-economic conditions and rising corporate default risk over the next 12-24 months”.

In Fitch’s press release, the rating agency recognises Coface’s “very strong, well established and geographically diversified franchise in the global trade credit insurance sector”. Fitch highlights also that “factoring, information services and other fee-based activities enhance Coface’s business diversification”.

Fitch views Coface’s financial performance “as strong across the economic cycle, underpinned by underwriting profitability and effective risk management and reinsurance”.

CONTACTS

ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

2024 FINANCIAL CALENDAR
9M-2024 results: 5 November 2024 (after market close)

FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website:
http://www.coface.com/Investors

For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust. You can check the authenticity on the website www.wiztrust.com.

COFACE: FOR TRADE
With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognised provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2023, Coface employed ~4,970 people and registered a turnover of €1.87 billion.

www.coface.com

COFACE SA is quoted in Compartment A of Euronext Paris
Code ISIN: FR0010667147 / Mnémonique: COFA

DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2022 Universal Registration Document filed with AMF on 6 April 2023 under the number D.23-0244 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

Attachment

2024 10 28 PR Fitch affirms Coface AA- rating

The MIL Network –

January 25, 2025

MIL-OSI USA: Biden-Harris Administration, alongside Congresswoman Wilson, Announce $389 million towards Miami-Dade County’s Northeast Corridor Rapid Transit Project

Source: United States House of Representatives – Congresswoman Frederica S Wilson (24th District of Florida)

The Federal Transit Administration, alongside Congresswoman Frederica Wilson (FL-24), announced that it is advancing the Miami-Dade County Northeast Corridor Rapid Transit Project into the Engineering phase of the Capital Investment Grants (CIG) program.

This means the Federal Transit Administration will invest $389,474,434 in Miami-Dade County. The total project plan is $927.3 million, and under this plan, the Federal Transit Administration will provide $389.4 million, Miami Dade County will provide 337.9 million, and the State of Florida will commit $200 million.

Congresswoman Wilson, a senior member of the Transportation and Infrastructure Committee, said, “The Federal Transit Administration’s announcement is a game-changer for Miami-Dade County and brings our community much closer to seeing the Northeast Corridor become a reality. Traffic and transit options have been issues across Miami-Dade County for as long as I can remember, especially in areas like Wynwood, Aventura, Little Haiti, and North Miami. I’m proud to have worked with our county officials and federal partners at the Federal Transit Administration to help secure these funds for Miami-Dade County. Constructing the Northeast Corridor will help reduce traffic, provide more transportation options, create jobs, contribute to our efforts to combat the climate crisis, and allow Miami-Dade County to become the modern, transit-connected community it deserves to be. While more work lies ahead, today marks a large milestone in our efforts to construct the Northeast Corridor.”

Congresswoman Wilson represents the areas where the Northeast Corridor would be constructed, including North Miami, Aventura, and Little Haiti. She has been a consistent advocate for the Northeast Corridor and has previously requested $454 million in funds from the federal government for the Northeast Corridor Rapid Transit Project. She was also one of five cosponsors of the Bipartisan Infrastructure Act, which helped allow this funding for the Northeast Corridor.

“We are grateful to the Biden-Harris administration and U.S. Secretary of Transportation Pete Buttigieg for continuing to support this critical project and our SMART Program to offer more affordable transportation options to our community,” said Miami-Dade Mayor Daniella Levine Cava. “The Northeast Corridor and its local commuter rail service will help reduce traffic and give many residents, especially in underserved areas, more options to access jobs, education and opportunities. This service will be a gamechanger for those who need it most as we continue building the future of transit in Miami-Dade.”

Next, the project will need a second rating from the Federal Transit Administration, considering factors such as mobility improvements, land use, and environmental benefits. Miami-Dade Transportation and Public Works already scored well enough on the first review to move into the Engineering phase and grant preliminary approval for a Capital Investment Grant. If they receive a strong score again and complete all engineering work, they’ll be able to secure a Full Funding Grant Agreement (FFGA) with the Federal Transit Administration. This agreement would commit the Federal Transit Administration to provide $389.3 million for the project, pending the availability of funding through annual appropriations, as this transit program relies on the General Fund instead of guaranteed Highway Trust Fund dollars.

No congressional approval is needed on a project-specific level, but Congress will have to approve funds for all Capital Investment Grants projects as part of the annual Congressional appropriations process to ensure the funds for this project.

“The Federal Transit Administration’s $389 million investment in Miami-Dade’s Northeast Corridor is a monumental step forward in our efforts to create a modern, connected transit system that serves our residents and visitors,” said Miami-Dade County Commissioner Eileen Higgins. “This funding is a testament to our community’s vision and the commitment from leaders like Congresswoman Federica Wilson to make that vision a reality. With stops in places like Wynwood, Little Haiti, and at the FIU Biscayne Bay campus, expanding and improving our transit options means less traffic congestion, a cleaner environment, and enhanced access to jobs, healthcare, and educational opportunities for thousands. I am proud to advocate for this vital project alongside our congressional partners and look forward to the progress that will transform how we move across Miami-Dade.”

Miami-Dade County Commissioner Eileen Higgins, who represents the area where the Northeast Corridor would be constructed, has traveled numerous times between Miami-Dade and Washington, D.C., to advocate for this funding.

Miami-Dade County Commission Chairman Oliver Gilbert said, “This announcement by the FTA marks a commitment to a more accessible, resilient, and inclusive Miami-Dade County. Whether it’s jobs, housing, or educational opportunities, the federal support for the Northeast Corridor will bring transformative change and make it easier for people to connect with what matters most in their lives.”

Cathy Dos Santos, Executive Director of Transit Alliance Miami, said, “In August of 2024, 80% of Miami-Dade voters gave our elected officials a mandate to expand mass rapid transit, the Northeast Corridor delivers. This rail project is a giant step towards a robust, competitive transit network that secures the economic well-being of Miami-Dade. For our workers and families, this commuter rail will be a completely new way of moving that’s safe, fast, affordable, and enjoyable, compared to the traffic nightmare of the I-95. We commend Congresswoman Frederica Wilson and Commissioner Higgins for fighting to secure this funding and Miami-Dade’s future!”

For the approval letter from the Federal Transit Administration, click here.

For the details on the Federal Transit Administration’s announcement, click here.

The Northeast Corridor Rapid Transit Project includes 13.5 miles of commuter rail, with 7 stations, including Miami Central, Wynwood, Design District, Little Haiti, North Miami, FIU/Biscayne, and West Aventura.

###

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Blaine’s Bulletin: The Promise of NextGen MURR

Source: United States House of Representatives – Representative Blaine Luetkemeyer (MO-03)

For so many of us, cancer isn’t just a word—it’s personal. Whether it’s touched a friend, family member, or even ourselves, cancer has left its mark on our lives and our communities. It’s a fight that impacts not only our loved ones but also our entire nation. But here in the Third District, we are leading the charge in the fight against this devastating disease. With each passing day, research and treatment options are advancing, and I’m proud to say that Missouri is at the forefront of that progress.

Over the past 15 years, I’ve been an avid supporter of funding the nuclear reactor at the University of Missouri. This isn’t just about funding a reactor; it’s about powering life-saving discoveries. The NextGen MURR project will bring a new, 20-megawatt state-of-the-art research reactor to Mizzou, expanding critical medical isotope research and production for cancer treatments. These are the technologies that make a real difference in the lives of cancer patients—technologies that come from uranium, cobalt, and rare earth elements, which are the backbone of nuclear reactors and the radiopharmaceuticals they produce. NextGEN MURR builds on the legacy of the existing MURR facility, the only U.S. producer of four essential medical isotopes used to treat liver, thyroid, pancreatic, and prostate cancers. This new reactor will allow Missouri to remain a global leader in the development of radiopharmaceuticals, strengthening our role in research that will impact healthcare nationwide.

This couldn’t have come at a more crucial moment. As the demand for critical minerals essential for lifesaving treatments is projected to surge by over 20% in the next decade—largely fueled by the increasing need for cancer therapies that rely on isotopes—NextGEN MURR is perfectly positioned to meet this challenge. Currently, MURR is already making significant contributions to healthcare, generating billions through enhanced diagnostics and treatment. With the development of NextGEN MURR, we have the potential to elevate that impact to an astounding $3 billion annually.

I began supporting the research reactor at the University of Missouri because I believed in its potential to change lives right here in the Third District. Supporting Missouri-based research has always been an easy decision for me—not just for the research dollars, but for positioning Missouri as a hub for innovation. Today, we’re seeing that vision realized as MURR leads groundbreaking work that’s saving lives and advancing cancer treatment. But this is just the beginning. As NextGEN MURR propels us into the next 15 years, driving new discoveries in nuclear research, medical treatments, and technological advancements that will directly benefit our district and our nation, its impact will extend far beyond the lab. It will create high-skilled jobs, boost our local economy, and ensuring more families in our community have access to cutting-edge treatments.

I’ll leave you with this – I can assure you that the future of the Third District is bright as we lead the nation in nuclear research and medical technology, offering real hope in the fight against cancer. Our investment today is more than just a financial commitment; it’s a promise to future generations to come.

CONTACT US: I encourage you to visit my official website or call my offices in Jefferson City (573-635-7232) or Cottleville (636-327-7055) with your questions and concerns. If you want even greater access to what I am working on, please visit my YouTube site, Facebook page, and keep up-to-date with Twitter and Instagram.

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MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Wittman Hosts Veterans Seminar in Midlothian
Source: United States House of Representatives – Congressman Rob Wittman (VA-01)

MIDLOTHIAN, Va. – Congressman Rob Wittman (VA-01) today hosted a community seminar at American Legion Post 354 in Midlothian to convene veterans, their families, support organizations, and community members to provide resources and discuss the challenges faced by the veterans community in Virginia’s First District. The seminar was a follow-up to a similar event the congressman hosted in Mechanicsville earlier this month.

Watch the livestream here.

“Our veterans made great sacrifices for us on the battlefield, and we owe them a debt of gratitude for that service,” said Rep. Wittman. “These heroes and their families deserve access to the highest level of care, employment and educational opportunities, and support from their community. Our veterans have earned their benefits through sacrifice, service, and hardship, and I believe they should receive the most efficient delivery of benefits possible. I remain committed to protecting these hard-earned benefits for our nation’s heroes.”

The congressman was joined by Harry Schein, veterans service representative at the Virginia Department of Veterans Services, and Bill Barksdale, assistant director of the U.S. Department of Veteran Affairs’ Roanoke Regional Office.

Virginia’s First District is home to many veterans, with over 700,000 veterans residing in the Commonwealth of Virginia. Throughout his time in Congress, Rep. Wittman has reintroduced multiple pieces of legislation that would remove administrative roadblocks to U.S. Department of Veterans Affairs (VA) services and to bring accountability to the VA by increasing transparency:
- Voted for the PACT Act
  - Expands VA health care to veterans exposed to toxic burn pits during their military service.
  - Extends the period of time post-9/11 combat veterans have to enroll in VA health care from five to 10 years post-discharge.
  - Requires veterans enrolled in VA health care to be screened regularly for toxic exposure related concerns.
  - Invests in VA health care facilities by authorizing 31 major medical health clinics and research facilities in 19 states.
  - Requires VA to conduct outreach to any veteran who had previously filed a claim for benefits related to toxic exposure and was denied ensuring they are aware of the opportunity to refile.
- Cosponsored the Senator Elizabeth Dole 21st Century Veterans Healthcare and Benefits Improvement Act
  - Improves the delivery of healthcare, benefits, and services at the VA for veterans, their families, and their survivors.
  - Expands economic opportunity, modernizes the disability claims process, improves elder care, and expands mental health support.
- Cosponsored the Not Just a Number Act
  Directs the VA to study which programs work best to stop suicide and expand upon them.
  
  Enhances accuracy of data, timely reporting of veteran suicides, and improves prevention efforts through better service delivery and the proposal of new administrative structures.
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MIL OSI USA News –
January 25, 2025
MIL-OSI USA: Watch How Students Help NASA Grow Plants in Space: Growing Beyond Earth

Source: NASA

2 min read

Since 2015, students from across the USA have been partnering with scientists at NASA to advance research on growing plants in space, ultimately to feed astronauts on long-distance space missions, as part of Fairchild Tropical Botanic Garden’s Growing Beyond Earth project, which is now in its 9th year. This classroom-based citizen science project for 6th-12th grade students includes a series of plant experiments conducted by students in a Fairchild-designed plant habitat similar to the Vegetable Production System (VEGGIE) on the International Space Station.

This year, 8000+ students from 400+ schools are testing new edible plant varieties, studying radiation effects on growth, exploring the perfect light spectrum for super-sized space radishes, and experimenting with cosmic soil alternatives.

Watch these South Florida students show us how it’s done.

[embedded content]

NASA citizen science projects are open to everyone around the world, not limited to U.S. citizens or residents. They are collaborations between scientists and interested members of the public. Through these collaborations, volunteers (known as citizen scientists) have helped make thousands of important scientific discoveries. More than 450 NASA citizen scientists have been named as co-authors on refereed scientific publications. Explore opportunities for you to get involved and do NASA science: https://science.nasa.gov/citizen-science/

The Growing Beyond Earth project is supported by NASA under cooperative agreement award number 80NSSC22MO125 and is part of NASA’s Science Activation Portfolio. Learn more about how Science Activation connects NASA science experts, real content, and experiences with community leaders to do science in ways that activate minds and promote deeper understanding of our world and beyond: https://science.nasa.gov/learn

Credit: Niki Jose

MIL OSI USA News –

January 25, 2025
MIL-OSI: Orezone Provides Notice of Q3-2024 Results and Conference Call

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone”) will announce its third quarter 2024 results on November 5, 2024, after market close. A conference call and audio webcast to discuss the results will take place on November 6, 2024, at 8:00 am PT (11:00 am ET).

Webcast

Conference Call
Toll-free in U.S. and Canada: 1-800-715-9871
International callers: +646-307-1963
Event ID: 9776163

About Orezone Gold Corporation

Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

Patrick Downey
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
info@orezone.com / www.orezone.com

For further information please contact Orezone at +1 (778) 945 8977 or visit the Company’s website at www.orezone.com.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

The MIL Network –

January 25, 2025

MIL-OSI: NorthEast Community Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2024

Source: GlobeNewswire (MIL-OSI)

WHITE PLAINS, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of $12.7 million, or $0.97 per basic share and $0.95 per diluted share, for the three months ended September 30, 2024 compared to net income of $11.8 million, or $0.80 per basic and diluted share, for the three months ended September 30, 2023. In addition, the Company generated net income of $36.9 million, or $2.81 per basic share and $2.78 per diluted share, for the nine months ended September 30, 2024 compared to net income of $34.2 million, or $2.42 per basic share and $2.41 per diluted share, for the nine months ended September 30, 2023.

Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report another quarter of strong earnings due to the strong performance of our loan portfolio. Despite the challenging high interest rate environment during 2023 that continued into most of 2024, offset by a reduction in interest rates towards the end of the third quarter of 2024, loan demand remained strong with originations and outstanding commitments remaining robust. As has been in the past, construction lending in high demand-high absorption areas continues to be our focus.”

Highlights for the three months and nine months ended September 30, 2024 are as follows:

Performance metrics continue to be strong with a return on average total assets ratio of 2.62%, a return on average shareholders’ equity ratio of 16.48%, and an efficiency ratio of 36.04% for the three months ended September 30, 2024. For the nine months ended September 30, 2024, the Company generated a return on average total assets ratio of 2.61%, a return on average shareholders’ equity ratio of 16.55%, and an efficiency ratio of 36.37%.
Net interest income increased by $1.2 million and $5.5 million, or 4.6% and 7.7%, respectively, for the three months and nine months ended September 30, 2024 compared to the same periods in 2023.
Our commitments, loans-in-process, and standby letters of credit outstanding totaled $659.0 million at September 30, 2024 compared to $719.6 million at December 31, 2023.

Balance Sheet Summary

Total assets increased $203.8 million, or 11.6%, to $2.0 billion at September 30, 2024, from $1.8 billion at December 31, 2023. The increase in assets was primarily due to an increase in net loans of $173.6 million and an increase in cash and cash equivalents of $29.1 million.

Cash and cash equivalents increased $29.1 million, or 42.4%, to $97.8 million at September 30, 2024 from $68.7 million at December 31, 2023. The increase in cash and cash equivalents was a result of an increase in deposits of $228.0 million, partially offset by a decrease in borrowings of $57.0 million, an increase of $173.6 million in net loans, and stock repurchases of $2.4 million.

Equity securities increased $2.4 million, or 13.5%, to $20.5 million at September 30, 2024 from $18.1 million at December 31, 2023. The increase in equity securities was attributable to the purchase of $2.0 million in equity securities during the third quarter of 2024 and market appreciation of $445,000 due to market interest rate volatility during the nine months ended September 30, 2024.

Securities held-to-maturity decreased $799,000, or 5.0%, to $15.1 million at September 30, 2024 from $15.9 million at December 31, 2023 due to $810,000 in maturities and pay-downs of various investment securities, partially offset by a decrease of $10,000 in the allowance for credit losses for held-to-maturity securities.

Loans, net of the allowance for credit losses, increased $173.6 million, or 11.0%, to $1.8 billion at September 30, 2024 from $1.6 billion at December 31, 2023. The increase in loans, net of the allowance for credit losses, was primarily due to loan originations of $569.2 million during the nine months ended September 30, 2024, consisting primarily of $499.7 million in construction loans with respect to which approximately 34.1% of the funds were disbursed at loan closings, with the remaining funds to be disbursed over the terms of the construction loans. In addition, during the nine months ended September 30, 2024, we originated $44.7 million in commercial and industrial loans, $14.0 million in non-residential loans, $4.2 million in multi-family loans, and $600,000 in mixed-use loans.

Loan originations during the nine months ended September 30, 2024 resulted in a net increase of $148.8 million in construction loans, $14.4 million in commercial and industrial loans, $9.2 million in non-residential loans, $3.6 million in multi-family loans, and $788,000 in consumer loans. The increase in our loan portfolio was partially offset by decreases of $1.7 million in residential loans and $1.2 million in mixed-use loans, coupled with normal pay-downs and principal reductions.

The allowance for credit losses related to loans decreased to $4.8 million as of September 30, 2024 from $5.1 million as of December 31, 2023. The decrease in the allowance for credit losses related to loans was due to a credit to the provision for credit losses totaling $145,000 and charge-offs of $115,000.

Premises and equipment decreased $507,000, or 2.0%, to $24.9 million at September 30, 2024 from $25.5 million at December 31, 2023 primarily due to the depreciation of fixed assets.

Investments in Federal Home Loan Bank stock decreased $217,000, or 23.4%, to $712,000 at September 30, 2024 from $929,000 at December 31, 2023. The decrease was due primarily to the mandatory redemption of Federal Home Loan Bank stock totaling $315,000 in connection with the maturity of $7.0 million in advances in 2024, offset by purchases of Federal Home Loan Bank stock totaling $98,000 due to the growth of our mortgage loan portfolio.

Bank owned life insurance (“BOLI”) increased $486,000, or 1.9%, to $25.6 million at September 30, 2024 from $25.1 million at December 31, 2023 due to increases in the BOLI cash value.

Accrued interest receivable increased $1.2 million, or 9.4%, to $13.5 million at September 30, 2024 from $12.3 million at December 31, 2023 due to an increase in the loan portfolio.

Real estate owned decreased $478,000, or 32.8%, to $978,000 at September 30, 2024 from $1.5 million at December 31, 2023 due to a charge-off of $478,000 resulting from a decrease in the estimated fair value of the foreclosed property.

Right of use assets — operating decreased $422,000, or 9.2%, to $4.1 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

Other assets decreased $548,000, or 6.8%, to $7.5 million at September 30, 2024 from $8.0 million at December 31, 2023 due to decreases in tax assets of $671,000, prepaid expenses of $56,000, miscellaneous assets of $4,000, and securities receivables of $1,000, partially offset by increase in suspense accounts of $184,000.

Total deposits increased $228.0 million, or 16.3%, to $1.6 billion at September 30, 2024 from $1.4 billion at December 31, 2023. The increase in deposits was primarily due to the Bank offering competitive interest rates to attract deposits. This resulted in a shift in deposits whereby certificates of deposit increased $230.5 million, or 30.3%, and NOW/money market accounts increased $83.5 million, or 57.4%, partially offset by decreases in savings account balances of $53.4 million, or 27.7%, and non-interest bearing demand deposits of $32.6 million, or 10.9%.

Federal Home Loan Bank advances decreased $7.0 million, or 50.0%, to $7.0 million at September 30, 2024 from $14.0 million at December 31, 2023 due to the maturity of borrowings in 2024. Federal Reserve Bank borrowings of $50.0 million at December 31, 2023 were paid-off during the nine months ended September 30, 2024.

Advance payments by borrowers for taxes and insurance increased $442,000, or 21.9%, to $2.5 million at September 30, 2024 from $2.0 million at December 31, 2023 due primarily to accumulation of real estate tax payments by borrowers.

Lease liability – operating decreased $384,000, or 8.3%, to $4.2 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

Accounts payable and accrued expenses increased $2.4 million, or 17.8%, to $16.0 million at September 30, 2024 from $13.6 million at December 31, 2023 due primarily to increases in dividends payable of $3.2 million and deferred compensation of $395,000, partially offset by a decrease in accrued expense of $810,000. The allowance for credit losses for off-balance sheet commitments decreased $130,000, or 12.5%, to $908,000 at September 30, 2024 from $1.0 million at December 31, 2023.

Stockholders’ equity increased $30.3 million, or 10.8% to $309.6 million at September 30, 2024, from $279.3 million at December 31, 2023. The increase in stockholders’ equity was due to net income of $36.9 million for the nine months ended September 30, 2024, the amortization expense of $1.4 million relating to restricted stock and stock options granted under the Company’s 2022 Equity Incentive Plan, a reduction of $652,000 in unearned employee stock ownership plan shares coupled with an increase of $532,000 in earned employee stock ownership plan shares, an exercise of stock options totaling $14,000, and $10,000 in other comprehensive income, partially offset by stock repurchases totaling $2.5 million and dividends paid and declared of $6.7 million.

Results of Operations for the Three Months Ended September 30, 2024 and 2023

Net Interest Income

Net interest income was $26.3 million for the three months ended September 30, 2024, as compared to $25.1 million for the three months ended September 30, 2023. The increase in net interest income of $1.2 million, or 4.6%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

The increase in interest income is attributable to increases in the average balances of loans, interest-bearing deposits, and investment securities, partially offset by a decrease in the average balances of FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases in 2023 that continued until September 2024.

The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the three months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to an increase in the average balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the average balances on our savings and club deposits.

Total interest and dividend income increased $6.0 million, or 17.2%, to $41.2 million for the three months ended September 30, 2024 from $35.1 million for the three months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $282.6 million, or 18.0%, to $1.9 billion for the three months ended September 30, 2024 from $1.6 billion for the three months ended September 30, 2023, partially offset by a decrease in the yield on interest earning assets by 6 basis points from 8.95% for the three months ended September 30, 2023 to 8.89% for the three months ended September 30, 2024.

Interest expense increased $4.9 million, or 48.9%, to $14.9 million for the three months ended September 30, 2024 from $10.0 million for the three months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 59 basis points from 3.86% for the three months ended September 30, 2023 to 4.45% for the three months ended September 30, 2024 and an increase in average interest bearing liabilities of $301.8 million, or 29.1%, to $1.3 billion for the three months ended September 30, 2024 from $1.0 billion for the three months ended September 30, 2023.

Our net interest margin decreased 72 basis points, or 11.3%, to 5.68% for the three months ended September 30, 2024 compared to 6.40% for the three months ended September 30, 2023. The decrease in the net interest margin was due to the increase in the cost of interest-bearing liabilities outpacing the increase in the yield on interest-earning assets.

Credit Loss Expense

The Company recorded a provision for credit loss of $105,000 for the three months ended September 30, 2024 compared to a provision for credit loss of $156,000 for the three months ended September 30, 2023. The credit loss expense of $105,000 for the three months ended September 30, 2024 was comprised of a credit loss expense for off-balance sheet commitments of $105,000 primarily attributable to an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments. The credit loss expense of $156,000 for the three months ended September 30, 2023 was comprised of credit loss for loans of $438,000, partially offset by credit loss expense reduction for off-balance sheet commitments of $278,000 and credit loss expense reduction for held-to-maturity securities of $4,000.

With respect to the allowance for credit losses for loans, we charged-off $82,000 during the three months ended September 30, 2024 as compared to charge-offs of $71,000 during the three months ended September 30, 2023. These charge-offs during the three months ended September 30, 2024 and 2023 were against various unpaid overdrafts in our demand deposit accounts.

We recorded no recoveries from previously charged-off loans during the three months ended September 30, 2024 and 2023.

Non-Interest Income

Non-interest income for the three months ended September 30, 2024 was $1.3 million compared to non-interest income of $221,000 for the three months ended September 30, 2023. The increase of $1.1 million, or 510.4%, in total non-interest income was primarily due to increases of $977,000 in unrealized gain on equity securities, $225,000 in other loan fees and service charges, $26,000 in miscellaneous other non-interest income, and $14,000 in BOLI income, partially offset by a decrease of $114,000 in investment advisory fees.

The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 compared to an unrealized loss of $430,000 on equity securities during the three months ended September 30, 2023. The unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 was due to market interest rate volatility during the quarter ended September 30, 2024.

The increase of $225,000 in other loan fees and service charges was due to an increase of $210,000 in other loan fees and loan servicing fees and an increase of $15,000 in ATM/debit card/ACH fees.

The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

Non-Interest Expense

Non-interest expense increased $1.0 million, or 11.7%, to $10.0 million for the three months ended September 30, 2024 from $8.9 million for the three months ended September 30, 2023. The increase resulted primarily from increases of $477,000 in real estate owned expense, $435,000 in salaries and employee benefits, $119,000 in occupancy expense, and $112,000 in outside data processing expense, partially offset by decreases of $53,000 in equipment expense, $39,000 in other operating expense, and $5,000 in advertising expense.

Income Taxes

We recorded income tax expense of $4.9 million and $4.4 million for the three months ended September 30, 2024 and 2023, respectively. For the three months ended September 30, 2024, we had approximately $203,000 in tax exempt income, compared to approximately $187,000 in tax exempt income for the three months ended September 30, 2023. Our effective income tax rates were 27.8% and 27.3% for the three months ended September 30, 2024 and 2023, respectively.

Results of Operations for the Nine Months Ended September 30, 2024 and 2023

Net Interest Income

Net interest income was $77.5 million for the nine months ended September 30, 2024 as compared to $72.0 million for the nine months ended September 30, 2023. The increase in net interest income of $5.5 million, or 7.7%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

The increase in interest income is attributable to increases in loans and interest-bearing deposits, partially offset by decreases in investment securities and FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases during 2023 that continued until September 2024.

The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the nine months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to increases in the balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the balances of our savings and club deposits.

Total interest and dividend income increased $24.2 million, or 25.4%, to $119.5 million for the nine months ended September 30, 2024 from $95.4 million for the nine months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $332.7 million, or 22.7%, to $1.8 billion for the nine months ended September 30, 2024 from $1.5 billion for the nine months ended September 30, 2023 and an increase in the yield on interest earning assets by 19 basis points from 8.66% for the nine months ended September 30, 2023 to 8.85% for the nine months ended September 30, 2024.

Interest expense increased $18.7 million, or 79.9%, to $42.0 million for the nine months ended September 30, 2024 from $23.4 million for the nine months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 101 basis points from 3.35% for the nine months ended September 30, 2023 to 4.36% for the nine months ended September 30, 2024, and an increase in average interest bearing liabilities of $355.6 million, or 38.2%, to $1.3 billion for the nine months ended September 30, 2024 from $931.5 million for the nine months ended September 30, 2023.

Net interest margin decreased 80 basis points, or 12.2%, for the nine months ended September 30, 2024 to 5.74% compared to 6.54% for the nine months ended September 30, 2023.

Credit Loss Expense

The Company recorded a credit loss expense reduction totaling $286,000 for the nine months ended September 30, 2024 compared to a credit loss expense totaling $767,000 for the nine months ended September 30, 2023. The credit loss expense reduction of $286,000 for the nine months ended September 30, 2024 was comprised of a credit loss expense reduction for loans of $145,000, a credit loss expense reduction for off-balance sheet commitments of $130,000, and a credit loss expense reduction for held-to-maturity investment securities of $11,000. The credit loss expense reduction for loans of $145,000 for the nine months ended September 30, 2024 was primarily attributed to favorable trends in the economy. The credit loss expense reduction for off-balance sheet commitments of $130,000 for the nine months ended September 30, 2024 was primarily attributed to a reduction of $69.1 million in the level of off-balance sheet commitments, partially offset by an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments during the quarter ended September 30, 2024.

The credit loss expense of $767,000 for the nine months ended September 30, 2023 was comprised of credit loss expense for loans of $1.2 million, partially offset by a credit loss expense reduction for off-balance sheet commitments of $395,000 and credit loss expense reduction for held-to-maturity investment securities of $1,000.

We charged-off $115,000 during the nine months ended September 30, 2024 as compared to charge-offs of $285,000 during the nine months ended September 30, 2023. The charge-offs of $115,000 during the nine months ended September 30, 2024 were against various unpaid overdrafts in our demand deposit accounts. The charge-offs of $285,000 during the nine months ended September 30, 2023 were comprised of a charge-off of $159,000 related to three performing construction loans on the same project whereby we sold the loans to a third-party subsequent to June 30, 2023 at a loss of $159,000. The remaining charge-offs of $126,000 for the 2023 period were against various unpaid overdrafts in our demand deposit accounts.

We recorded no recoveries from previously charged-off loans during the nine months ended September 30, 2024 and 2023.

Non-Interest Income

Non-interest income for the nine months ended September 30, 2024 was $2.6 million compared to non-interest income of $2.4 million for the nine months ended September 30, 2023. The increase of $277,000, or 11.8%, in total non-interest income was primarily due to increases of $772,000 in unrealized gains on equity securities, $196,000 in other loan fees and service charges, and $23,000 in miscellaneous other non-interest income, offset by decreases of $371,000 in BOLI income and $343,000 in investment advisory fees.

The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $445,000 on equity securities during the nine months ended September 30, 2024 compared to an unrealized loss of $327,000 on equity securities during the nine months ended September 30, 2023. The unrealized gain of $445,000 on equity securities during the 2024 period was due to market interest rate volatility during the nine months ended September 30, 2024.

The increase of $196,000 in other loan fees and service charges was due to increases of $164,000 in other loan fees and loan servicing fees, $27,000 in ATM/debit card/ACH fees, and $5,000 in savings account fees.

The decrease in BOLI income was primarily due to two death claims totaling $1.8 million on BOLI policies that resulted in additional BOLI income of $404,000 in the nine months ended September 30, 2023. The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

Non-Interest Expense

Non-interest expense increased $3.2 million, or 12.1%, to $29.1 million for the nine months ended September 30, 2024 from $26.0 million for the nine months ended September 30, 2023. The increase resulted primarily from increases of $1.7 million in salaries and employee benefits, $800,000 in other operating expense, $475,000 in real estate owned expense, $286,000 in outside data processing expense, and $226,000 in occupancy expense, partially offset by decreases of $183,000 in equipment expense and $110,000 in advertising expense.

Income Taxes

We recorded income tax expense of $14.4 million and $13.4 million for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, we had approximately $597,000 in tax exempt income, compared to approximately $956,000 in tax exempt income for the nine months ended September 30, 2023. The decrease in tax exempt income was due to two death claims totaling $1.8 million on BOLI policies during the nine months ended September 30, 2023. Our effective income tax rates were 28.1% and 28.2% for the nine months ended September 30, 2024 and 2023, respectively.

Asset Quality

Non-performing assets were $5.4 million at September 30, 2024 compared to $5.8 million at December 31, 2023. At September 30, 2024 and December 31, 2023, we had two non-performing construction loans totaling $4.4 million secured by the same project located in the Bronx, New York. We successfully foreclosed on these two loans on October 21, 2024 and the balances were transferred to foreclosed real estate. The other non-performing assets consisted of one foreclosed property at September 30, 2024 and December 31, 2023. Our ratio of non-performing assets to total assets remained low at 0.27% at September 30, 2024 as compared to 0.33% at December 31, 2023.

The Company’s allowance for credit losses related to loans was $4.8 million, or 0.27% of total loans as of September 30, 2024, compared to $5.1 million, or 0.32% of total loans, as of December 31, 2023. Based on a review of the loans that were in the loan portfolio at September 30, 2024, management believes that the allowance for credit losses related to loans is maintained at a level that represents its best estimate of inherent losses in the loan portfolio that were both probable and reasonably estimable.

In addition, at September 30, 2024, the Company’s allowance for credit losses related to off-balance sheet commitments totaled $908,000 and the allowance for credit losses related to held-to-maturity debt securities totaled $126,000.

Capital

The Company’s total stockholders’ equity to assets ratio was 15.73% as of September 30, 2024. At September 30, 2024, the Company had the ability to borrow $832.1 million from the Federal Reserve Bank of New York, $14.8 million from the Federal Home Loan Bank of New York and $8.0 million from Atlantic Community Bankers Bank.

The Bank’s capital position remains strong relative to current regulatory requirements and the Bank is considered a well-capitalized institution under the Prompt Corrective Action framework. As of September 30, 2024, the Bank had a tier 1 leverage capital ratio of 14.76% and a total risk-based capital ratio of 14.04%.

The Company completed its first stock repurchase program on April 14, 2023 whereby the Company repurchased 1,637,794 shares, or 10%, of the Company’s issued and outstanding common stock. The cost of the stock repurchase program totaled $23.0 million, including commission costs and Federal excise taxes. Of the total shares repurchased under this program, 957,275 of such shares were repurchased during 2023 at a total cost of $13.7 million, including commission costs and Federal excise taxes.

The Company commenced its second stock repurchase program on May 30, 2023 whereby the Company will repurchase 1,509,218, or 10%, of the Company’s issued and outstanding common stock. As of September 30, 2024, the Company had repurchased 1,091,174 shares of common stock under its second repurchase program, at a cost of $17.2 million, including commission costs and Federal excise taxes.

About NorthEast Community Bancorp

NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.

Forward Looking Statement

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, decreases in deposit levels necessitating increased borrowing to fund loans and securities, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACT:	Kenneth A. Martinek
	Chairman and Chief Executive Officer

PHONE:	(914) 684-2500

NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)

	September 30,			December 31,
	2024			2023
	(In thousands, except share
	and per share amounts)
ASSETS
Cash and amounts due from depository institutions	$	16,023		$	13,394
Interest-bearing deposits		81,766			55,277
Total cash and cash equivalents		97,789			68,671
Certificates of deposit		100			100
Equity securities		20,547			18,102
Securities held-to-maturity (net of allowance for credit losses of $126 and $136, respectively)		15,061			15,860
Loans receivable		1,760,504			1,586,721
Deferred loan (fees) costs, net		(245	)		176
Allowance for credit losses		(4,833	)		(5,093	)
Net loans		1,755,426			1,581,804
Premises and equipment, net		24,945			25,452
Investments in restricted stock, at cost		712			929
Bank owned life insurance		25,568			25,082
Accrued interest receivable		13,463			12,311
Real estate owned		978			1,456
Property held for investment		1,380			1,407
Right of Use Assets – Operating		4,144			4,566
Right of Use Assets – Financing		348			351
Other assets		7,496			8,044
Total assets	$	1,967,957		$	1,764,135
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	267,592		$	300,184
Interest bearing		1,360,475			1,099,852
Total deposits		1,628,067			1,400,036
Advance payments by borrowers for taxes and insurance		2,462			2,020
Borrowings		7,000			64,000
Lease Liability – Operating		4,241			4,625
Lease Liability – Financing		599			571
Accounts payable and accrued expenses		15,965			13,558
Total liabilities		1,658,334			1,484,810

Stockholders’ equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding	$	—		$	—
Common stock, $0.01 par value; 75,000,000 shares authorized; 14,020,602 shares and 14,144,856 shares outstanding, respectively		140			142
Additional paid-in capital		109,368			109,924
Unearned Employee Stock Ownership Plan (“ESOP”) shares		(5,911	)		(6,563	)
Retained earnings		205,699			175,505
Accumulated other comprehensive income		327			317
Total stockholders’ equity		309,623			279,325
Total liabilities and stockholders’ equity	$	1,967,957		$	1,764,135

NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024			2023
						(In thousands, except per share amounts)
INTEREST INCOME:
Loans	$	39,484	$	33,757		$	114,821		$	91,826
Interest-earning deposits		1,472		1,181			4,058			2,886
Securities		227		199			662			650
Total Interest Income		41,183		35,137			119,541			95,362
INTEREST EXPENSE:
Deposits		14,630		9,889			40,459			23,050
Borrowings		257		109			1,559			299
Financing lease		10		10			29			28
Total Interest Expense		14,897		10,008			42,047			23,377
Net Interest Income		26,286		25,129			77,494			71,985
Provision for (reversal of) credit loss		105		156			(286	)		767
Net Interest Income after Provision for (Reversal of) Credit Loss		26,181		24,973			77,780			71,218
NON-INTEREST INCOME:
Other loan fees and service charges		589		364			1,613			1,417
Earnings on bank owned life insurance		167		153			486			857
Investment advisory fees		–		114			–			343
Unrealized gain (loss) on equity securities		547		(430	)		445			(327	)
Other		46		20			90			67
Total Non-Interest Income		1,349		221			2,634			2,357
NON-INTEREST EXPENSES:
Salaries and employee benefits		5,135		4,700			15,738			14,079
Occupancy expense		735		616			2,116			1,890
Equipment		187		240			661			844
Outside data processing		681		569			1,924			1,638
Advertising		128		133			310			420
Real estate owned expense		488		11			527			52
Other		2,607		2,646			7,864			7,064
Total Non-Interest Expenses		9,961		8,915			29,140			25,987
INCOME BEFORE PROVISION FOR INCOME TAXES		17,569		16,279			51,274			47,588
PROVISION FOR INCOME TAXES		4,883		4,436			14,416			13,413
NET INCOME	$	12,686	$	11,843		$	36,858		$	34,175

NORTHEAST COMMUNITY BANCORP, INC.
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(In thousands, except per share amounts)						(In thousands, except per share amounts)
Per share data:
Earnings per share – basic	$	0.97		$	0.80		$	2.81		$	2.42
Earnings per share – diluted		0.95			0.80			2.78			2.41
Weighted average shares outstanding – basic		13,075			14,743			13,108			14,143
Weighted average shares outstanding – diluted		13,417			14,822			13,279			14,192
Performance ratios/data:
Return on average total assets		2.62	%		2.87	%		2.61	%		2.95	%
Return on average shareholders’ equity		16.48	%		17.26	%		16.55	%		16.95	%
Net interest income	$	26,286		$	25,129		$	77,494		$	71,985
Net interest margin		5.68	%		6.40	%		5.74	%		6.54	%
Efficiency ratio		36.04	%		35.17	%		36.37	%		34.96	%
Net charge-off ratio		0.02	%		0.02	%		0.01	%		0.03	%

Loan portfolio composition:								September 30, 2024			December 31, 2023
One-to-four family							$	3,507		$	5,252
Multi-family								202,516			198,927
Mixed-use								28,399			29,643
Total residential real estate								234,422			233,822
Non-residential real estate								30,312			21,130
Construction								1,368,222			1,219,413
Commercial and industrial								125,520			111,116
Consumer								2,028			1,240
Gross loans								1,760,504			1,586,721
Deferred loan (fees) costs, net								(245	)		176
Total loans							$	1,760,259		$	1,586,897
Asset quality data:
Loans past due over 90 days and still accruing							$	–		$	–
Non-accrual loans								4,413			4,385
OREO property								978			1,456
Total non-performing assets							$	5,391		$	5,841

Allowance for credit losses to total loans								0.27	%		0.32	%
Allowance for credit losses to non-performing loans								109.52	%		116.15	%
Non-performing loans to total loans								0.25	%		0.28	%
Non-performing assets to total assets								0.27	%		0.33	%

Bank’s Regulatory Capital ratios:
Total capital to risk-weighted assets								14.04	%		14.11	%
Common equity tier 1 capital to risk-weighted assets								13.76	%		13.78	%
Tier 1 capital to risk-weighted assets								13.76	%		13.78	%
Tier 1 leverage ratio								14.76	%		16.21	%

NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)

	Three Months Ended September 30, 2024								Three Months Ended September 30, 2023
	Average			Interest		Average			Average			Interest		Average
	Balance			and dividend		Yield			Balance			and dividend		Yield
	(In thousands, except yield/cost information)								(In thousands, except yield/cost information)
Loan receivable gross	$	1,717,875		$	39,484		9.19	%	$	1,446,946		$	33,757		9.33	%
Securities		34,920			212		2.43	%		33,754			181		2.14	%
Federal Home Loan Bank stock		712			15		8.43	%		929			18		7.75	%
Other interest-earning assets		98,903			1,472		5.95	%		88,156			1,181		5.36	%
Total interest-earning assets		1,852,410			41,183		8.89	%		1,569,785			35,137		8.95	%
Allowance for credit losses		(4,914	)							(4,404	)
Non-interest-earning assets		90,313								85,133
Total assets	$	1,937,809							$	1,650,514

Interest-bearing demand deposit	$	228,975		$	2,423		4.23	%	$	78,768		$	522		2.65	%
Savings and club accounts		140,047			848		2.42	%		235,613			1,624		2.76	%
Certificates of deposit		946,290			11,359		4.80	%		707,142			7,743		4.38	%
Total interest-bearing deposits		1,315,312			14,630		4.45	%		1,021,523			9,889		3.87	%
Borrowed money		23,603			267		4.52	%		15,631			119		3.05	%
Total interest-bearing liabilities		1,338,915			14,897		4.45	%		1,037,154			10,008		3.86	%
Non-interest-bearing demand deposit		271,207								322,213
Other non-interest-bearing liabilities		19,758								16,694
Total liabilities		1,629,880								1,376,061
Equity		307,929								274,453
Total liabilities and equity	$	1,937,809							$	1,650,514

Net interest income / interest spread				$	26,286		4.44	%				$	25,129		5.09	%
Net interest rate margin							5.68	%							6.40	%
Net interest earning assets	$	513,495							$	532,631
Average interest-earning assets
to interest-bearing liabilities		138.35	%							151.36	%

NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)

	Nine Months Ended September 30, 2024								Nine Months Ended September 30, 2023
	Average			Interest		Average			Average			Interest		Average
	Balance			and dividend		Yield			Balance			and dividend		Yield
	(In thousands, except yield/cost information)								(In thousands, except yield/cost information)
Loan receivable gross	$	1,672,582		$	114,821		9.15	%	$	1,353,446		$	91,826		9.05	%
Securities		34,071			607		2.38	%		39,375			589		1.99	%
Federal Home Loan Bank stock		752			55		9.75	%		1,002			61		8.12	%
Other interest-earning assets		93,417			4,058		5.79	%		74,308			2,886		5.18	%
Total interest-earning assets		1,800,822			119,541		8.85	%		1,468,131			95,362		8.66	%
Allowance for credit losses		(4,977	)							(4,640	)
Non-interest-earning assets		90,087								83,200
Total assets	$	1,885,932							$	1,546,691

Interest-bearing demand deposit	$	202,097		$	6,300		4.16	%	$	84,920		$	1,433		2.25	%
Savings and club accounts		160,296			3,032		2.52	%		262,977			5,373		2.72	%
Certificates of deposit		880,741			31,127		4.71	%		567,378			16,244		3.82	%
Total interest-bearing deposits		1,243,134			40,459		4.34	%		915,275			23,050		3.36	%
Borrowed money		43,916			1,588		4.82	%		16,216			327		2.69	%
Total interest-bearing liabilities		1,287,050			42,047		4.36	%		931,491			23,377		3.35	%
Non-interest-bearing demand deposit		282,786								329,993
Other non-interest-bearing liabilities		19,163								16,373
Total liabilities		1,588,999								1,277,857
Equity		296,933								268,834
Total liabilities and equity	$	1,885,932							$	1,546,691

Net interest income / interest spread				$	77,494		4.49	%				$	71,985		5.31	%
Net interest rate margin							5.74	%							6.54	%
Net interest earning assets	$	513,772							$	536,640
Average interest-earning assets
to interest-bearing liabilities		139.92	%							157.61	%

The MIL Network –

January 25, 2025

MIL-OSI Africa: East Africa: The Ethiopia-Kenya Electricity Highway is Shaping Regional Connectivity with the Support of the African Development Bank

Source: Africa Press Organisation – English (2) – Report:

ABIDJAN, Ivory Coast, October 28, 2024/APO Group/ —

The electricity highway between Ethiopia and Kenya, officially opened in 2023 after more than 10 years of planning and construction, is redefining energy connectivity in East Africa. It is more than a piece of infrastructure, it is an economic and environmental entity, connecting not just power grids but nations and populations.

This vision of a shared energy future runs for 1,045 km between Wolayta-Sodo in Ethiopia and Suswa in Kenya. It enables both countries to pool resources, hydroelectricity from Ethiopia, and geothermal and wind power from Kenya.

Regional Connectivity lies at the heart of the project. As John Mativo, Managing Director of the Kenya Electricity Transmission Company (Ketraco) explains, this project is all about collaboration:

“Around 2010, countries in East Africa, as an energy pool, decided that it was essential to have an interconnected hub so that everyone could use and exploit energy and support each other.”

One of the project’s critical aspects is the use of HVDC (High Voltage Direct Current) technology, which makes it much easier to transport electricity with long distance transmission lines as Tewoderos Ayalew, the site manager at Ethiopian Electric Power explains:

“The reason we are using HVDC technology is to minimize energy wastage and reduce power losses in the transmission line energy wastage and reduce the costs of constructing transmission lines; it is also easy to operate and improve grid stability in operating the interconnection from the power grids of different countries.”

Hydroelectric dams in Ethiopia produce energy in the form of alternating current, which is transported via the Ethiopian grid to the converter station in Sodo. There, it is converted to Direct Current (DC) and leaves Ethiopia for Kenya, via 1,045 km of overhead transmission line. Once it arrives at the Suswa converter station, it will be converted back to alternating current to be integrated into the Kenyan power grid.

This high voltage DC infrastructure is the only one of its kind in the region and is the foundation of East Africa’s ambition to be interconnected in terms of power exchange and allow cross-border trade in energy.

The total cost of USD 1.26 billion was funded partly by USD 338 million from the African Development Bank. The World Bank, the Agence française de développement (AFD) and the governments of the two countries concerned also contributed.

Significant economic benefits

The project has brought significant economic benefits. For Kenya, where 95 percent of electricity comes from renewable sources, the connection is increasing its competitiveness. Kipkemoi Kibias, General Manager at Ketraco, endorses the project:

“Using clean, renewable energy brings numerousadvantages not just to Kenyans, but to the whole world… it allows us to attract investors, especially in light and heavy industries, who are looking for green energy.”

The project also creates jobs. The development of business zones close to energy infrastructure, like the one near Suswa, creates thousands of jobs and boosts local economic activity. Moreover, the project includes a significant social dimension, notably involving local communities. Out of the 100 employees at the Suswa power station, 70 come from the region, offering opportunities for local development.

For Sylvia Kinaiya, an engineer from the region, the project is also a source of personal pride:

“I am Masai, so for me, it’s a way of giving back to my community,” she says. She also emphasizes that this project proves that it is possible to be both a mother and an engineer, helping to break down gender barriers in technical occupations.

Apart from its economic and social impacts, the project is a model of sustainability, allowing better integration of intermittent renewable energy sources, such as wind power and Solar, into regional networks. According to John Mativo, this infrastructure ensures that “Kenya has enough green energy to support our industrial development while maintaining a small carbon footprint.”

Kenya is already on the way to self-sufficiency in clean energy, with the aim of moving to 100 percent renewable energy by 2030. By connecting its grid to Ethiopia, Kenya can not only stabilize its energy supply but also attract more investment into green energies. This vision is also shared by investors, who see this infrastructure as a guarantee of energy and environmental security.

The Ethiopia-Kenya electricity highway is therefore much more than a simple infrastructure project; it embodies a vision of the future in which green energy becomes the driver of stronger regional cooperation and sustainable development. Thanks to this connection, East African countries can share their energy resources efficiently, while responding to the growing needs of their populations and industries.

The future is bright according to Tweoderos Ayalew:

“We have the potential not only to meet our own needs, but also to supply energy to our neighbours and beyond.”

This pioneering project is thus paving the way to shared prosperity, while putting the region on the path to a sustainable energy transition.

MIL OSI Africa –

January 25, 2025
MIL-OSI USA: Kennedy announces $3.6 million in Hurricanes Laura, Delta, Ida aid for Louisiana
US Senate News:
Source: United States Senator John Kennedy (Louisiana)

MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, announced $3,568,827 in Federal Emergency Management Agency (FEMA) grants for Louisiana disaster aid.

“Hurricanes Laura, Delta and Ida damaged many facilities across south Louisiana, including educational buildings and churches. This $3.6 million will help communities rebuild and recover from some of the high costs sustained during these storms,” said Kennedy.

The FEMA aid will fund the following:
- $1,312,778 to the Society of the Roman Catholic Church of the Diocese of Lafayette for the restoration of the St. Francis Mission Chapel due to Hurricane Laura damage.
- $1,202,044 to the Office of Risk Management to repair multiple state educational facilities, the 3rd Circuit Appeal Courthouse and surrounding buildings due to Hurricane Delta damage.
- $1,054,005 to the Greater Lafourche Port Commission for emergency protective measures during Hurricane Ida.
MIL OSI USA News –
January 25, 2025
MIL-OSI Europe: President Meloni meets González Urrutia, winner of the Sakharov Prize for Freedom of Thought

Source: Government of Italy (English)

Vai al Contenuto Raggiungi il piè di pagina

28 Ottobre 2024

The President of the Council of Ministers, Giorgia Meloni, received Edmundo González Urrutia, winner of the Sakharov Prize for Freedom of Thought, at Palazzo Chigi today.

Offering her congratulations for the recently awarded prize, President Meloni stressed that the situation in Venezuela is a priority for the Italian Government, also as current G7 Presidency, and provided assurance of support for the ongoing efforts to facilitate a democratic and peaceful transition that corresponds to the will of the Venezuelan people.

President Meloni also reiterated the call for an immediate stop to human rights violations, arbitrary detentions and restrictions on fundamental freedoms, particularly against political opponents.

MIL OSI Europe News –

January 25, 2025
MIL-OSI Canada: Regional Artificial Intelligence Initiative will support AI innovation and adoption in British Columbia

Source: Government of Canada News

PacifiCan funding of over $32 million will help businesses bring new technologies to market and adopt AI

October 28, 2024 – Burnaby, British Columbia – PacifiCan

Artificial Intelligence (AI) is a transformational opportunity for British Columbians. With a strong AI ecosystem – one that includes researchers developing technology, companies creating AI-based solutions to the world’s challenges, and adopters putting the power of AI to work in their operations – British Columbian businesses are well-positioned to leverage the power of AI to drive innovation across the province, creating jobs and economic growth.

Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced that businesses and not-for-profit organizations will be able to apply for funding from the new Regional Artificial Intelligence Initiative in British Columbia beginning November 18. In British Columbia, PacifiCan will deliver the RAII with $32.2 million, making investments that help businesses commercialize and adopt AI technologies.

To ensure that Canada stays at the forefront of innovation, the Government of Canada is making strategic investments that will help drive AI adoption across the country. This includes $200 million over five years for Canada’s regional development agencies (RDAs) to deliver the Regional Artificial Intelligence Initiative (RAII) to help businesses bring new AI technologies to market and speed up AI adoption across the country.

In British Columbia, PacifiCan will prioritize projects that not only have strong economic benefits but also bring positive outcomes for human health, the environment, and/or economic resilience and productivity across a wide range of sectors. PacifiCan will welcome project ideas from both businesses and not-for-profit organizations.

PacifiCan is investing in British Columbian businesses, workers and organizations to ensure they have access to the tools they need to succeed at home and compete in the global economy.

More information is available on PacifiCan’s web page: Regional Artificial Intelligence Initiative – Canada.ca

MIL OSI Canada News –

January 25, 2025
MIL-OSI Canada: Bonaparte First Nation celebrates completion of their new water treatment plants
Source: Government of Canada News

News release

Today, Bonaparte First Nation proudly marked the completion of two new water treatment plants, which now provide clean drinking water to remote areas of their community.

October 28, 2024 — Bonaparte First Nation, Secwépemc Territory, British Columbia — Indigenous Services Canada

Today, Bonaparte First Nation proudly marked the completion of two new water treatment plants, which now provide clean drinking water to remote areas of their community.

The newly built water treatment plants and distribution systems, located in the Lower Hat Creek area, are a significant step toward ensuring long-term, sustainable access to safe drinking water in IR#1 and IR#2 of the Bonaparte reserve. These facilities will help prevent future drinking water advisories, an issue that has affected these areas intermittently since 2004.

Indigenous Services Canada (ISC) provided $9.8 million for the feasibility studies, design and construction of the two state-of-the-art water treatment systems. In addition, Bonaparte First Nation and ISC are collaborating on further enhancements to water infrastructure in IR#3 to meet the area’s long-term water needs.

The Government of Canada will continue to prioritize working in partnership with First Nations to ensure communities have reliable access to safe and clean drinking water.

Quotes

“Today we celebrate the new water treatment plant. After two long decades of persistent water advisories, our community can breathe a sigh of relief thanks to these critical upgrades. Water is a lifeline and a fundamental right. We are grateful for this investment, it ensures the health, safety and well-being of our community and for generations to come.”

Kúkpi7 Frank Antoine
Bonaparte First Nation

“Decades of uncertainty are now behind us. I would like to thank and acknowledge the determined efforts of all our partners, advocates, current and past leaders who all worked tirelessly to ensure our community has access to clean water. These new water treatment facilities are a significant investment to our future.”

Byron Porter, Water Manager
Bonaparte First Nation

“Water is essential and too many First Nations communities still live without clean drinking water. These new water treatment plants will play a significant role in the health and well-being of members of Bonaparte First Nation. I applaud Kúkpi7 Frank Antoine and Council, as well as the people of Bonaparte First Nation, for their leadership and dedication with these projects.”

The Honourable Patty Hajdu
Minister of Indigenous Services

Quick facts
- Bonaparte First Nation is located west of Kamloops, British Columbia.
- The Band is a member of the Shuswap Nation Tribal Council of the Secwépemc (Shuswap) people.
- The community has a registered population of 1,152 members.
- The Government of Canada also invested $4.26 million in a new water system in Bonaparte First Nation IR#3 in 2020, which supported the lifting of a long-term drinking water advisory; further upgrades to the IR#3 water system are currently under discussion with the community.
- Since 2016 and as of June 30, 2024, Indigenous Services Canada has invested $4.35 billion of targeted funds to support 1,358 water and wastewater projects, of which 637 are completed. These projects will benefit 591 communities serving approximately 476,000 people.
- Since 2015, First Nations, with support from Indigenous Services Canada, have lifted 146 long-term drinking water advisories, and have prevented over 280 short-term advisories from becoming long-term.
Associated links

Contacts

For more information, media may contact:

Kukpi7 Frank Antoine
Bonaparte First Nation
250-318-0742
kukpi7@bonaparte.band

Jennifer Kozelj
Press Secretary
Office of the Honourable Patty Hajdu
Minister of Indigenous Services and Minister responsible for FedNor
jennifer.kozelj@sac-isc.gc.ca

ISC Media Relations
819-953-1160
media@sac-isc.gc.ca

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MIL OSI Canada News –
January 25, 2025

MIL-OSI USA: CFTC Commissioner Pham Announces Global Markets Advisory Committee will Meet November 21

Source: US Commodity Futures Trading Commission

WASHINGTON, D.C. — CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee, announced the GMAC will hold a virtual public meeting Thursday, Nov. 21, from 9:30 a.m. to 10:30 a.m. EST. The meeting will be open to the public via live webcast or listen-only audio feed via telephone.

“The GMAC is continuing to meaningfully address innovations in market structure through pragmatic recommendations for applying existing regulatory frameworks to new and emerging technology,” Commissioner Pham said. “I look forward to the presentations on tokenized collateral to improve operational efficiency and mitigate risks, and development of regulatory approaches to utility tokens.”

At this meeting, the GMAC will hear a presentation by the Tokenized Collateral workstream of the GMAC’s Digital Asset Markets Subcommittee on expanding use of non-cash collateral through use of distributed ledger technology and consider a recommendation from the Subcommittee. The meeting will also include a presentation by the Utility Tokens workstream of the Digital Asset Markets Subcommittee summarizing their work to-date on defining utility tokens and developing guidance for market participants.

A detailed agenda is available here.

Under Commissioner Pham’s sponsorship, the GMAC has advanced 13 recommendations in less than a year, and continues making progress on developing solutions to the most significant challenges in global markets as set forth in its 2023-2025 work program. Learn more about the GMAC and its work here.

Meeting Details

What:

Global Markets Advisory Committee Meeting

Location (virtual):

The meeting will take place virtually. Viewing instructions below

When:

Thursday, November 21, 2024

9:30 a.m. – 10:30 a.m. (EST)

Viewing/Listening Instructions: View a live webcast on CFTC.gov or through the CFTC’s YouTube channel. Use the numbers below to call in. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting will be made available on CFTC.gov.

Participation Details
Domestic Toll-Free: Domestic Toll:	+1 833 568 8864 or +1 833 435 1820 +1 669 254 5252 or +1 646 828 7666 or +1 551 285 1373 or +1 669 216 1590 or (U.S. Spanish Lines) +1 415 449 4000 or +1 646 964 1167
Webinar ID:	161 533 1062 Passcode: 990545
International Numbers:	International Numbers

Additional information is available in the Federal Register.

About the GMAC and Advisory Committees

The GMAC was created to advise the Commission on issues that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business, including the regulatory challenges of a global marketplace that reflects the increasing interconnectedness of markets and the multinational nature of business. The GMAC also makes recommendations regarding international standards for regulating futures, swaps, options, and derivatives markets, as well as intermediaries. In June 2023, Commissioner Pham announced the leadership and membership of the GMAC and its subcommittees—the largest-ever single advisory committee initiative sponsored by the CFTC. Members include financial market infrastructures, market participants, end-users, service providers, and regulators. Harry Jung is the GMAC Designated Federal Officer, and Nicholas Elliot is the GMAC Alternate Designated Federal Officer.

There are five active Advisory Committees overseen by the CFTC. They were created to provide advice and recommendations to the Commission on a variety of regulatory and market issues that affect the integrity and competitiveness of U.S. markets. These committees facilitate communication between the Commission and market participants, other regulators, and academics. The views, opinions, and information expressed by the Advisory Committees are solely those of the respective Advisory Committee and do not necessarily reflect the views of the Commission, its staff, or the U.S. government.

MIL OSI USA News –

January 25, 2025

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