KB – Page 5130 – NewzIntel.com

MIL-OSI: Ozop Energy Solutions, Inc. Selected as National Field Service Partner for Leviton through Ozop Engineering and Design

Source: GlobeNewswire (MIL-OSI)

Warwick, NY, Oct. 24, 2024 (GLOBE NEWSWIRE) — Ozop Energy Solutions, Inc. (OZSC) is proud to announce that its subsidiary, Ozop Engineering and Design (OED), has been selected by Leviton Manufacturing Co., Inc. to serve as field service technicians for their advanced lighting control systems. This significantly enhances OED’s profile within the lighting industry, positioning it as a go-to service provider for sophisticated control systems across the United States.

Elevating OED’s National Presence

The agreement marks a major expansion of OED’s role in the lighting controls market. As a field service representative, OED is responsible for installation verification, system commissioning, troubleshooting, and ongoing maintenance across a broad range of Leviton projects nationwide. This role extends OED’s footprint, providing access to new territories and reinforcing its presence on a national level.

This partnership not only elevates OED’s reach but also demonstrates its capability to support high-demand, large-scale operations. By being entrusted with this critical role, OED is solidifying its reputation as a trusted partner capable of meeting rigorous standards in the lighting control industry.

Specialized Training for GreenMAX and DRC Systems

In preparation for this role, OED’s technicians have received specialized training and have been certified on Leviton’s GreenMAX and GreenMAX DRC systems. This training included in-depth technical education on system installation, programming, and troubleshooting, enabling OED to deliver best-in-class service quality. Such training underlines OED’s commitment to continuous improvement and its focus on staying ahead in a rapidly evolving industry. With these certifications, OED is well-equipped to manage Leviton’s sophisticated systems, ensuring reliable performance for clients nationwide.

A Strategic Growth Opportunity for OED

This collaboration with Leviton represents a strategic growth opportunity for OED, allowing the company to diversify and enhance its revenue streams by taking on a role of national significance. It supports OED’s vision to grow as a premier provider of lighting controls commissioning and field services, building upon its established expertise in handling complex systems. This partnership highlights OED’s technical expertise and underscores its capacity to collaborate with major industry players.

Brian Conway, CEO of Ozop Energy Solutions, commented:

“We are extremely proud to have been selected by Leviton as a national field service representative. This is a significant step forward for Ozop Engineering and Design, expanding our capabilities and our footprint across the country. Our technicians are trained and ready to handle the most sophisticated lighting control systems. This marks a major milestone in OED’s growth trajectory. We see this as an opportunity to demonstrate our expertise and dedication to high-quality field service across the industry.”

Tom Leonard, Vice President and General Manager of Leviton Lighting & Controls, noted:

“Leviton is pleased to have OZOP Engineering and Design join our team of Field Service Centers. Their proven experience and technical expertise make them ideal partners to support Leviton’s commitment to delivering exceptional customer experiences. We are certain this partnership will enhance our service capabilities nationwide and contribute to the success of our projects.”

Supporting OED’s Broader Vision

This partnership aligns with Ozop Engineering and Design’s broader vision of becoming a dominant player in the lighting control industry, known for reliability and technical excellence. By partnering with one of the leading manufacturers in the sector, OED gains the opportunity to showcase its capabilities on a larger stage, reinforcing its standing as an expert provider of comprehensive field services.

About Ozop Energy Solutions.

Ozop Energy Solutions (Ozop Energy Solutions (http://ozopenergy.com/) is the flagship company that oversees a wide variety of products in various stages of development in the renewable energy sector. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.

About Automated Room Controls, Inc.

Also known as ARC, Inc. its mission is to deliver cutting-edge technology that simplifies complex control needs, ensuring seamless integration and exceptional performance. We aim to lead the industry by continuously innovating and providing solutions that meet the evolving demands of our customers. Our vision is to make control systems smarter, more efficient, and more accessible to everyone.

www.ARControl.com

About Ozop Energy Systems, Inc.

Ozop Energy Systems is a manufacturer and distributor of Renewable Energy products in the Energy Storage, Solar, Microgrids, and EV charging Station space. We offer a broad portfolio of Renewable Energy products at competitive prices with a commitment to customer satisfaction from selection, to ordering, shipping, and delivery.

About Ozop Engineering and Design

Ozop Engineering and Design engineers’ energy efficient, easy to install and use, digital lighting controls solutions for commercial buildings, campuses, and sports complexes throughout North America. Products include relays panels, controllers, occupancy/vacancy sensors, daylight sensors and wall switch stations. Ozop has a dedicated design team that produces system drawings and a technical support group for product questions and onsite system commissioning. Our mission is to be recognized for our deep understanding of power management systems and ability to provide the right solution for each facility.

www.ozopengineering.com

About Ozop Capital Partners

Ozop Capital Partners, Inc. is a wholly owned subsidiary of the Company, and wholly owns EV Insurance Company, Inc. (“EVIC”). EVIC, DBA Ozop Plus is licensed as a captive insurer that reinsures. www.OzopPlus.com

https://twitter.com/OzopEnergy

https://www.facebook.com/OzopEnergy/

About Leviton Lighting + Controls

Leviton Lighting & Controls brings innovative lighting solutions to life in commercial, healthcare, industrial, and residential buildings with an extensive lighting and controls designed towards enhancing people’s lives. With a collection of five of the most well-respected lighting brands on the market bolstered by a commitment to continuously improving the controls and technology that power them, Leviton Lighting & Controls exceeds customers’ expectations every day. Leviton is a single-source partner of highly innovative and energy-efficient products, backed by unsurpassed customer service and support. For more information, visit https://www.leviton.com/en/solutions/commercial-lighting-and-controls.

About Leviton

Every day, Leviton is engineering possibilities that make the future happen, meeting the needs of today’s residential, commercial, and industrial customers globally. From electrical, to lighting, to data networks, and energy management, Leviton develops thoughtful solutions that help make its customers’ lives easier, safer, more efficient and more productive. Driven by its commitment to its customers, the ingenuity of its employees and the safety and quality of its products and solutions, with Leviton, the FUTURE IS ON. For more information, visit www.leviton.com, www.facebook.com/leviton, www.twitter.com/leviton, or www.youtube.com/Levitonmfg.

Safe Harbor Statement

“This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company’s control). The company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.”

Investor Relations Contact – Ozop
The Waypoint Refinery, LLC
845-397-2956
Visit our Discord:
https://discord.gg/waypoint

The MIL Network –

January 25, 2025

MIL-OSI: West Bancorporation, Inc. Announces Third Quarter 2024 Financial Results and Declares Quarterly Dividend

Source: GlobeNewswire (MIL-OSI)

WEST DES MOINES, Iowa, Oct. 24, 2024 (GLOBE NEWSWIRE) — West Bancorporation, Inc. (Nasdaq: WTBA; the “Company”), parent company of West Bank, today reported third quarter 2024 net income of $6.0 million, or $0.35 per diluted common share, compared to second quarter 2024 net income of $5.2 million, or $0.31 per diluted common share, and third quarter 2023 net income of $5.9 million, or $0.35 per diluted common share. On October 23, 2024, the Company’s Board of Directors declared a regular quarterly dividend of $0.25 per common share. The dividend is payable on November 20, 2024, to stockholders of record on November 6, 2024.

David Nelson, President and Chief Executive Officer of the Company, commented, “Our third quarter results include moderate growth in loans and core deposits along with an increase in quarterly net interest income and net interest margin. Our credit quality remains pristine as a result of our disciplined loan growth and credit risk management practices. The ratio of nonperforming assets to total assets remains negligible at 0.01%.”

David Nelson added, “West Bank is focused on initiatives that will drive sustained core profitability. Those initiatives are centered around our culture of building strong relationships and providing exceptional personal service to drive growth in both commercial and consumer banking services.”

Third Quarter 2024 Financial Highlights

	Quarter Ended September 30, 2024		Nine Months Ended September 30, 2024
Net income (in thousands)	$5,952		$16,953
Return on average equity		10.41%		10.18%
Return on average assets		0.60%		0.59%
Efficiency ratio (a non-GAAP measure)		63.28%		64.16%
Nonperforming assets to total assets		0.01%		0.01%

Third Quarter 2024 Compared to Second Quarter 2024 Overview

Loans increased $22.4 million in the third quarter of 2024, or 3.0 percent annualized. The increase is primarily due to the funding of previously committed construction loans.
A provision for credit losses on loans of $1.0 million was recorded in the third quarter of 2024, compared to no provision in the second quarter of 2024. A negative provision for credit losses on unfunded commitments of $1.0 million was recorded in the third quarter of 2024, compared to no provision in the second quarter of 2024. The provision for loans in the third quarter of 2024 was primarily due to changes in the forecasted loss rates due to increases in forecasted unemployment rates. The negative provision for unfunded commitments was primarily due to the decline in unfunded commitments resulting primarily from the funding of construction loans.
The allowance for credit losses to total loans was 0.97 percent and 0.95 percent at September 30, 2024 and June 30, 2024, respectively. Nonaccrual loans at September 30, 2024 consisted of two loans with a total balance of $233 thousand, compared to three loans with a balance of $521 thousand at June 30, 2024.
Deposits increased $97.6 million, or 3.1 percent, in the third quarter of 2024. Brokered deposits totaled $425.9 million at September 30, 2024, compared to $370.3 million at June 30, 2024, an increase of $55.6 million. Excluding brokered deposits, deposits increased $42.0 million during the third quarter of 2024. As of September 30, 2024, estimated uninsured deposits, which exclude deposits in the IntraFi^® reciprocal network, brokered deposits and public funds protected by state programs, accounted for approximately 27.8 percent of total deposits.
Borrowed funds decreased to $438.8 million at September 30, 2024, compared to $525.5 million at June 30, 2024. The decrease was primarily due to the balance of federal funds purchased and other short-term borrowings decreasing to $0 as of September 30, 2024, from $85.5 million as of June 30, 2024 as a result of growth in deposits.
The efficiency ratio (a non-GAAP measure) was 63.28 percent for the third quarter of 2024, compared to 67.14 percent for the second quarter of 2024. The improvement in the efficiency ratio was primarily due to the increase in net interest income. In the third quarter of 2024, the increase in interest income on loans outpaced the increase in interest expense on deposits and borrowed funds.
Net interest margin, on a fully tax-equivalent basis (a non-GAAP measure), was 1.91 percent for the third quarter of 2024, compared to 1.86 percent for the second quarter of 2024. Net interest income for the third quarter of 2024 was $18.0 million, compared to $17.2 million for the second quarter of 2024.
The tangible common equity ratio was 5.90 percent as of September 30, 2024, compared to 5.65 percent as of June 30, 2024. The increase in the tangible common equity ratio was driven by retained net income and the decrease in accumulated other comprehensive loss, which was primarily the result of the increase in the market value of our available for sale investment portfolio.

Third Quarter 2024 Compared to Third Quarter 2023 Overview

Loans increased $171.4 million at September 30, 2024, or 6.0 percent, compared to September 30, 2023. The increase is primarily due to increases in commercial real estate loans and the funding of previously committed construction loans.
Deposits increased to $3.3 billion at September 30, 2024, compared to $2.8 billion at September 30, 2023. Included in deposits were brokered deposits totaling $425.9 million at September 30, 2024, compared to $237.0 million at September 30, 2023. Brokered deposits were used to reduce short-term borrowed funds and to fund loan growth. Excluding brokered deposits, deposits increased $334.2 million, or 13.3 percent, as of September 30, 2024, compared to September 30, 2023. Deposit growth included a mix of public funds and commercial and consumer deposits.
Borrowed funds decreased to $438.8 million at September 30, 2024, compared to $705.1 million at September 30, 2023. The decrease was primarily attributable to a decrease of $261.5 million in federal funds purchased and other short-term borrowings as a result of growth in deposits.
The efficiency ratio (a non-GAAP measure) was 63.28 percent for the third quarter of 2024, compared to 60.83 percent for the third quarter of 2023. The increase in the efficiency ratio in the third quarter of 2024 compared to the third quarter of 2023 was primarily due to the increase in noninterest expense, partially offset by an increase in net interest income. Occupancy and equipment expense increased primarily due to the occupancy costs associated with the Company’s newly constructed headquarters.
Net interest margin, on a fully tax-equivalent basis (a non-GAAP measure), was 1.91 percent for both the third quarter of 2024 and the third quarter of 2023. Net interest income for the third quarter of 2024 was $18.0 million, compared to $16.6 million for the third quarter of 2023.

The Company filed its report on Form 10-Q with the Securities and Exchange Commission today. Please refer to that document for a more in-depth discussion of the Company’s financial results. The Form 10-Q is available on the Investor Relations section of West Bank’s website at www.westbankstrong.com.

The Company will discuss its results in a conference call scheduled for 2:00 p.m. Central Time on Thursday, October 24, 2024. The telephone number for the conference call is 800-715-9871. The conference ID for the conference call is 7846129. A recording of the call will be available until November 7, 2024, by dialing 800-770-2030. The conference ID for the replay call is 7846129, followed by the # key.

About West Bancorporation, Inc. (Nasdaq: WTBA)

West Bancorporation, Inc. is headquartered in West Des Moines, Iowa. Serving customers since 1893, West Bank, a wholly-owned subsidiary of West Bancorporation, Inc., is a community bank that focuses on lending, deposit services, and trust services for small- to medium-sized businesses and consumers. West Bank has six offices in the Des Moines, Iowa metropolitan area, one office in Coralville, Iowa, and four offices in Minnesota in the cities of Rochester, Owatonna, Mankato and St. Cloud.

Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to the Company’s business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may appear throughout this report. These forward-looking statements are generally identified by the words “believes,” “expects,” “intends,” “anticipates,” “projects,” “future,” “confident,” “may,” “should,” “will,” “strategy,” “plan,” “opportunity,” “will be,” “will likely result,” “will continue” or similar references, or references to estimates, predictions or future events. Such forward-looking statements are based upon certain underlying assumptions, risks and uncertainties. Because of the possibility that the underlying assumptions are incorrect or do not materialize as expected in the future, actual results could differ materially from these forward-looking statements. Risks and uncertainties that may affect future results include: interest rate risk, including the effects of changes in interest rates; fluctuations in the values of the securities held in our investment portfolio, including as a result of changes in interest rates; competitive pressures, including from non-bank competitors such as credit unions, “fintech” companies and digital asset service providers; pricing pressures on loans and deposits; our ability to successfully manage liquidity risk; changes in credit and other risks posed by the Company’s loan portfolio, including declines in commercial or residential real estate values or changes in the allowance for credit losses dictated by new market conditions, accounting standards or regulatory requirements; the concentration of large deposits from certain clients, including those who have balances above current FDIC insurance limits; changes in local, national and international economic conditions, including the level and impact of inflation and possible recession; the effects of recent developments and events in the financial services industry, including the large-scale deposit withdrawals over a short period of time that resulted in recent bank failures; changes in legal and regulatory requirements, limitations and costs including in response to the recent bank failures; changes in customers’ acceptance of the Company’s products and services; the occurrence of fraudulent activity, breaches or failures of our or our third-party partners’ information security controls or cyber-security related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools; unexpected outcomes of existing or new litigation involving the Company; the monetary, trade and other regulatory policies of the U.S. government; acts of war or terrorism, including the ongoing Israeli-Palestinian conflict and the Russian invasion of Ukraine, widespread disease or pandemics, or other adverse external events; risks related to climate change and the negative impact it may have on our customers and their businesses; changes to U.S. tax laws, regulations and guidance; potential changes in federal policy and at regulatory agencies as a result of the upcoming 2024 presidential election; talent and labor shortages; and any other risks described in the “Risk Factors” sections of reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update such forward-looking statements to reflect current or future events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For more information contact:
Jane Funk, Executive Vice President, Treasurer and Chief Financial Officer (515) 222-5766


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	As of
CONDENSED BALANCE SHEETS	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Assets
Cash and due from banks	$	34,157		$	27,994		$	27,071		$	33,245		$	18,819
Interest-bearing deposits		123,646			121,825			120,946			32,112			1,802
Securities available for sale, at fair value		597,745			588,452			605,735			623,919			609,365
Federal Home Loan Bank stock, at cost		17,195			21,065			26,181			22,957			26,691
Loans		3,021,221			2,998,774			2,980,133			2,927,535			2,849,777
Allowance for credit losses		(29,419	)		(28,422	)		(28,373	)		(28,342	)		(28,147	)
Loans, net		2,991,802			2,970,352			2,951,760			2,899,193			2,821,630
Premises and equipment, net		106,771			101,965			95,880			86,399			75,675
Bank-owned life insurance		44,703			44,416			44,138			43,864			43,589
Other assets		72,547			89,046			90,981			84,069			104,329
Total assets	$	3,988,566		$	3,965,115		$	3,962,692		$	3,825,758		$	3,701,900

Liabilities and Stockholders’ Equity
Deposits	$	3,278,553		$	3,180,922		$	3,065,030		$	2,973,779		$	2,755,529
Federal funds purchased and other short-term borrowings		—			85,500			198,500			150,270			261,510
Other borrowings		438,814			439,998			441,183			442,367			443,552
Other liabilities		35,846			34,812			34,223			34,299			37,376
Stockholders’ equity		235,353			223,883			223,756			225,043			203,933
Total liabilities and stockholders’ equity	$	3,988,566		$	3,965,115		$	3,962,692		$	3,825,758		$	3,701,900

	For the Quarter Ended
AVERAGE BALANCES	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Assets	$	3,973,824		$	3,964,109		$	3,812,199		$	3,706,497		$	3,679,541
Loans		2,991,272			2,994,492			2,949,672			2,857,594			2,813,213
Deposits		3,258,669			3,123,282			2,956,635			2,878,676			2,764,184
Stockholders’ equity		227,513			219,771			219,835			201,920			215,230


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	As of
LOANS	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Commercial	$	512,884		$	526,589		$	544,293		$	531,594		$	529,293
Real estate:
Construction, land and land development		520,516			496,864			465,247			413,477			399,253
1-4 family residential first mortgages		89,749			92,230			108,065			106,688			89,713
Home equity		17,140			15,264			14,020			14,618			12,429
Commercial		1,870,132			1,856,301			1,839,580			1,854,510			1,812,816
Consumer and other		14,261			15,234			12,844			10,930			10,123
		3,024,682			3,002,482			2,984,049			2,931,817			2,853,627
Net unamortized fees and costs		(3,461	)		(3,708	)		(3,916	)		(4,282	)		(3,850	)
Total loans	$	3,021,221		$	2,998,774		$	2,980,133		$	2,927,535		$	2,849,777
Less: allowance for credit losses		(29,419	)		(28,422	)		(28,373	)		(28,342	)		(28,147	)
Net loans	$	2,991,802		$	2,970,352		$	2,951,760		$	2,899,193		$	2,821,630

CREDIT QUALITY
Pass	$	3,016,493		$	2,994,310		$	2,983,618		$	2,931,377		$	2,853,100
Watch		7,956			7,651			142			144			184
Substandard		233			521			289			296			343
Doubtful		—			—			—			—			—
Total loans	$	3,024,682		$	3,002,482		$	2,984,049		$	2,931,817		$	2,853,627

DEPOSITS
Noninterest-bearing demand	$	525,332		$	530,441		$	521,377		$	548,726		$	551,688
Interest-bearing demand		438,402			443,658			449,946			481,207			417,802
Savings and money market – non-brokered		1,481,840			1,483,264			1,315,698			1,315,741			1,249,309
Money market – brokered		123,780			97,259			119,840			124,335			99,282
Total nonmaturity deposits		2,569,354			2,554,622			2,406,861			2,470,009			2,318,081
Time – non-brokered		407,109			353,269			381,646			322,694			299,683
Time – brokered		302,090			273,031			276,523			181,076			137,765
Total time deposits		709,199			626,300			658,169			503,770			437,448
Total deposits	$	3,278,553		$	3,180,922		$	3,065,030		$	2,973,779		$	2,755,529

BORROWINGS
Federal funds purchased and other short-term borrowings	$	—		$	85,500		$	198,500		$	150,270		$	261,510
Subordinated notes, net		79,828			79,762			79,697			79,631			79,566
Federal Home Loan Bank advances		315,000			315,000			315,000			315,000			315,000
Long-term debt		43,986			45,236			46,486			47,736			48,986
Total borrowings	$	438,814		$	525,498		$	639,683		$	592,637		$	705,062

STOCKHOLDERS’ EQUITY
Preferred stock	$	—		$	—		$	—		$	—		$	—
Common stock		3,000			3,000			3,000			3,000			3,000
Additional paid-in capital		34,960			34,322			33,685			34,197			33,487
Retained earnings		275,724			273,981			272,997			271,369			271,025
Accumulated other comprehensive loss		(78,331	)		(87,420	)		(85,926	)		(83,523	)		(103,579	)
Total stockholders’ equity	$	235,353		$	223,883		$	223,756		$	225,043		$	203,933


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	For the Quarter Ended
CONSOLIDATED STATEMENTS OF INCOME	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023			September 30, 2023
Interest income:
Loans, including fees	$	42,504	$	41,700	$	40,196	$	38,208		$	36,756
Securities:
Taxable		3,261		3,394		3,416		3,521			3,427
Tax-exempt		806		808		810		869			880
Interest-bearing deposits		2,041		1,666		148		85			29
Total interest income		48,612		47,568		44,570		42,683			41,092
Interest expense:
Deposits		26,076		23,943		21,559		20,024			17,156
Federal funds purchased and other short-term borrowings		115		1,950		2,183		2,024			3,165
Subordinated notes		1,112		1,105		1,108		1,114			1,113
Federal Home Loan Bank advances		2,748		2,718		2,325		2,482			2,329
Long-term debt		601		622		645		678			695
Total interest expense		30,652		30,338		27,820		26,322			24,458
Net interest income		17,960		17,230		16,750		16,361			16,634
Credit loss expense		—		—		—		500			200
Net interest income after credit loss expense		17,960		17,230		16,750		15,861			16,434
Noninterest income:
Service charges on deposit accounts		459		462		460		476			463
Debit card usage fees		500		490		458		488			495
Trust services		828		794		776		782			831
Increase in cash value of bank-owned life insurance		287		278		274		275			262
Loan swap fees		—		—		—		—			431
Realized securities losses, net		—		—		—		(431	)		—
Other income		285		322		331		308			340
Total noninterest income		2,359		2,346		2,299		1,898			2,822
Noninterest expense:
Salaries and employee benefits		6,823		7,169		6,489		6,468			6,696
Occupancy and equipment		1,926		1,852		1,447		1,499			1,359
Data processing		771		754		714		723			703
Technology and software		722		731		700		676			573
FDIC insurance		711		631		519		475			439
Professional fees		239		244		257		235			254
Director fees		223		236		199		240			196
Other expenses		1,477		1,577		1,543		1,845			1,685
Total noninterest expense		12,892		13,194		11,868		12,161			11,905
Income before income taxes		7,427		6,382		7,181		5,598			7,351
Income taxes		1,475		1,190		1,372		1,073			1,445
Net income	$	5,952	$	5,192	$	5,809	$	4,525		$	5,906

Basic earnings per common share	$	0.35	$	0.31	$	0.35	$	0.27		$	0.35
Diluted earnings per common share	$	0.35	$	0.31	$	0.35	$	0.27		$	0.35


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)
(in thousands)
	For the Nine Months Ended
CONSOLIDATED STATEMENTS OF INCOME	September 30, 2024		September 30, 2023
Interest income:
Loans, including fees	$	124,400	$	104,715
Securities:
Taxable		10,071		10,175
Tax-exempt		2,424		2,648
Interest-bearing deposits		3,855		84
Total interest income		140,750		117,622
Interest expense:
Deposits		71,578		46,772
Federal funds purchased and other short-term borrowings		4,248		7,508
Subordinated notes		3,325		3,328
Federal Home Loan Bank advances		7,791		5,212
Long-term debt		1,868		2,132
Total interest expense		88,810		64,952
Net interest income		51,940		52,670
Credit loss expense		—		200
Net interest income after credit loss expense		51,940		52,470
Noninterest income:
Service charges on deposit accounts		1,381		1,383
Debit card usage fees		1,448		1,492
Trust services		2,398		2,286
Increase in cash value of bank-owned life insurance		839		769
Loan swap fees		—		431
Gain from bank-owned life insurance		—		691
Other income		938		1,116
Total noninterest income		7,004		8,168
Noninterest expense:
Salaries and employee benefits		20,481		20,592
Occupancy and equipment		5,225		4,008
Data processing		2,239		2,067
Technology and software		2,153		1,665
FDIC insurance		1,861		1,275
Professional fees		740		791
Director fees		658		652
Other expenses		4,597		5,400
Total noninterest expense		37,954		36,450
Income before income taxes		20,990		24,188
Income taxes		4,037		4,576
Net income	$	16,953	$	19,612

Basic earnings per common share	$	1.01	$	1.17
Diluted earnings per common share	$	1.00	$	1.17


WEST BANCORPORATION, INC. AND SUBSIDIARY
Financial Information (unaudited)

	As of and for the Quarter Ended															For the Nine Months Ended
COMMON SHARE DATA	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			September 30, 2024			September 30, 2023
Earnings per common share (basic)	$	0.35		$	0.31		$	0.35		$	0.27		$	0.35		$	1.01		$	1.17
Earnings per common share (diluted)		0.35			0.31			0.35			0.27			0.35			1.00			1.17
Dividends per common share		0.25			0.25			0.25			0.25			0.25			0.75			0.75
Book value per common share⁽¹⁾		13.98			13.30			13.31			13.46			12.19
Closing stock price		19.01			17.90			17.83			21.20			16.31
Market price/book value⁽²⁾		135.98	%		134.59	%		133.96	%		157.50	%		133.80	%
Price earnings ratio⁽³⁾		13.65			14.36			12.77			19.79			11.75
Annualized dividend yield⁽⁴⁾		5.26	%		5.59	%		5.61	%		4.72	%		6.13	%

REGULATORY CAPITAL RATIOS
Consolidated:
Total risk-based capital ratio		11.95	%		11.85	%		11.78	%		11.88	%		11.96	%
Tier 1 risk-based capital ratio		9.39			9.30			9.23			9.30			9.37
Tier 1 leverage capital ratio		8.15			8.08			8.36			8.50			8.58
Common equity tier 1 ratio		8.83			8.74			8.67			8.74			8.80
West Bank:
Total risk-based capital ratio		12.73	%		12.66	%		12.63	%		12.76	%		12.89	%
Tier 1 risk-based capital ratio		11.86			11.79			11.76			11.89			12.01
Tier 1 leverage capital ratio		10.29			10.25			10.65			10.86			11.00
Common equity tier 1 ratio		11.86			11.79			11.76			11.89			12.01

KEY PERFORMANCE RATIOS AND OTHER METRICS
Return on average assets⁽⁵⁾		0.60	%		0.53	%		0.61	%		0.48	%		0.64	%		0.59	%		0.72	%
Return on average equity⁽⁶⁾		10.41			9.50			10.63			8.89			10.89			10.18			12.22
Net interest margin^(7)(13)		1.91			1.86			1.88			1.87			1.91			1.88			2.05
Yield on interest-earning assets^(8)(13)		5.16			5.13			4.99			4.87			4.70			5.10			4.56
Cost of interest-bearing liabilities		3.84			3.83			3.70			3.60			3.38			3.79			3.09
Efficiency ratio^(9)(13)		63.28			67.14			62.04			64.66			60.83			64.16			59.52
Nonperforming assets to total assets⁽¹⁰⁾		0.01			0.01			0.01			0.01			0.01
ACL ratio⁽¹¹⁾		0.97			0.95			0.95			0.97			0.99
Loans/total assets		75.75			75.63			75.20			76.52			76.98
Loans/total deposits		92.15			94.27			97.23			98.44			103.42
Tangible common equity ratio⁽¹²⁾		5.90			5.65			5.65			5.88			5.51

(1)	Includes accumulated other comprehensive loss.
(2)	Closing stock price divided by book value per common share.
(3)	Closing stock price divided by annualized earnings per common share (basic).
(4)	Annualized dividend divided by period end closing stock price.
(5)	Annualized net income divided by average assets.
(6)	Annualized net income divided by average stockholders’ equity.
(7)	Annualized tax-equivalent net interest income divided by average interest-earning assets.
(8)	Annualized tax-equivalent interest income on interest-earning assets divided by average interest-earning assets.
(9)	Noninterest expense (excluding other real estate owned expense and write-down of premises) divided by noninterest income (excluding net securities gains/losses and gains/losses on disposition of premises and equipment) plus tax-equivalent net interest income.
(10)	Total nonperforming assets divided by total assets.
(11)	Allowance for credit losses on loans divided by total loans.
(12)	Common equity less intangible assets (none held) divided by tangible assets.
(13)	A non-GAAP measure.

NON-GAAP FINANCIAL MEASURES

This report contains references to financial measures that are not defined in GAAP. Such non-GAAP financial measures include the Company’s presentation of net interest income and net interest margin on a fully taxable equivalent (FTE) basis and the presentation of the efficiency ratio on an adjusted and FTE basis, excluding certain income and expenses. Management believes these non-GAAP financial measures provide useful information to both management and investors to analyze and evaluate the Company’s financial performance. These measures are considered standard measures of comparison within the banking industry. Additionally, management believes providing measures on a FTE basis enhances the comparability of income arising from taxable and nontaxable sources. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. These non-GAAP disclosures should not be considered an alternative to the Company’s GAAP results. The following table reconciles the non-GAAP financial measures of net interest income and net interest margin on a fully taxable equivalent basis and efficiency ratio on an adjusted and FTE basis.


(in thousands)	For the Quarter Ended															For the Nine Months Ended
	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			September 30, 2024			September 30, 2023
Reconciliation of net interest income and net interest margin on a FTE basis to GAAP:
Net interest income (GAAP)	$	17,960		$	17,230		$	16,750		$	16,361		$	16,634		$	51,940		$	52,670
Tax-equivalent adjustment ⁽¹⁾		29			55			82			95			113			166			396
Net interest income on a FTE basis (non-GAAP)		17,989			17,285			16,832			16,456			16,747			52,106			53,066
Average interest-earning assets		3,749,688			3,731,674			3,595,954			3,487,799			3,478,053			3,692,647			3,458,606
Net interest margin on a FTE basis (non-GAAP)		1.91	%		1.86	%		1.88	%		1.87	%		1.91	%		1.88	%		2.05	%

Reconciliation of efficiency ratio on an adjusted and FTE basis to GAAP:
Net interest income on a FTE basis (non-GAAP)	$	17,989		$	17,285		$	16,832		$	16,456		$	16,747		$	52,106		$	53,066
Noninterest income		2,359			2,346			2,299			1,898			2,822			7,004			8,168
Adjustment for realized securities losses, net		—			—			—			431			—			—			—
Adjustment for losses on disposal of premises and equipment, net		26			21			—			24			3			47			5
Adjusted income		20,374			19,652			19,131			18,809			19,572			59,157			61,239
Noninterest expense		12,892			13,194			11,868			12,161			11,905			37,954			36,450
Efficiency ratio on an adjusted and FTE basis (non-GAAP) ⁽²⁾		63.28	%		67.14	%		62.04	%		64.66	%		60.83	%		64.16	%		59.52	%

(1)

Computed on a tax-equivalent basis using a federal income tax rate of 21 percent, adjusted to reflect the effect of the nondeductible interest expense associated with owning tax-exempt securities and loans. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the financial results, as it enhances the comparability of income arising from taxable and nontaxable sources.

(2)

The efficiency ratio expresses noninterest expense as a percent of fully taxable equivalent net interest income and noninterest income, excluding specific noninterest income and expenses. Management believes the presentation of this non-GAAP measure provides supplemental useful information for proper understanding of the Company’s financial performance. It is a standard measure of comparison within the banking industry. A lower ratio is more desirable.

The MIL Network –

January 25, 2025

MIL-OSI: Kearny Financial Corp. Announces First Quarter Fiscal 2025 Results and Declaration of Cash Dividend

Source: GlobeNewswire (MIL-OSI)

FAIRFIELD, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) — Kearny Financial Corp. (NASDAQ GS: KRNY) (the “Company”), the holding company of Kearny Bank (the “Bank”), reported net income for the quarter ended September 30, 2024 of $6.1 million, or $0.10 per diluted share, compared to a GAAP net loss of $90.1 million, or $1.45 per diluted share, for the quarter ended June 30, 2024. The net loss for the quarter ended June 30, 2024 included a goodwill impairment of $95.3 million, as previously disclosed. Excluding this item, net income for the quarter ended September 30, 2024 increased $496,000 from adjusted net income of $5.6 million for the quarter ended June 30, 2024.

The Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.11 per share, payable on November 20, 2024, to stockholders of record as of November 6, 2024.

Craig L. Montanaro, President and Chief Executive Officer, commented, “I’m pleased to report that this quarter saw our net interest margin reach its inflection point and begin to ascend. Despite four basis points of quarterly compression, each successive month of the quarter reflected an increase in our net interest margin. The recent fed funds rate reduction of 50 basis points has already begun translating into a cost of funds benefit in October. Additional fed funds rate cuts, which the market is anticipating, will be a positive catalyst for our liability-sensitive balance sheet.”

Mr. Montanaro continued, “Regarding asset quality, our loan portfolio remains strong. Minimal exposure to New York City rent-regulated multifamily and office real estate, coupled with our robust commercial real estate ACL coverage ratios and peer-leading charge-off ratios, leaves us well-positioned in the current environment.”

Balance Sheet

Total assets were $7.77 billion at September 30, 2024, an increase of $88.9 million, or 1.2%, from June 30, 2024.
Investment securities totaled $1.20 billion at September 30, 2024, a decrease of $5.5 million, or 0.5%, from June 30, 2024.
Loans receivable totaled $5.78 billion at September 30, 2024, an increase of $51.5 million, or 0.9%, from June 30, 2024, primarily reflecting growth in one- to four-family residential mortgage loans and construction loans.
Deposits were $5.47 billion at September 30, 2024, an increase of $312.4 million, or 6.1%, from June 30, 2024. This increase was largely the result of a reallocation from Federal Home Loan Bank (“FHLB”) advances into brokered certificates of deposits, due to the relatively more favorable economics of brokered deposits compared to advances.
Borrowings were $1.48 billion at September 30, 2024, a decrease of $229.9 million, or 13.4%, from June 30, 2024, primarily reflecting a decrease in FHLB borrowings offset by an increase in brokered certificates of deposits, as noted above.
At September 30, 2024, the Company maintained available secured borrowing capacity with the FHLB and the Federal Reserve Discount Window of $2.06 billion, an increase of $240.0 million from June 30, 2024, and represents 26.5% of total assets.

Earnings

Net Interest Income and Net Interest Margin

Net interest margin contracted four basis points to 1.80% for the quarter ended September 30, 2024. The decrease for the quarter was driven by increases in the cost and average balances of interest-bearing deposits and a decrease in the average balance of interest-earning assets, partially offset by decreases in the average balances of interest-bearing borrowings and higher yields on interest-earning assets.
For the quarter ended September 30, 2024, net interest income decreased $830,000 to $32.4 million from $33.3 million for the quarter ended June 30, 2024. Included in net interest income for the quarters ended September 30, 2024 and June 30, 2024, respectively, was purchase accounting accretion of $649,000 and $612,000, and loan prepayment penalty income of $52,000 and $366,000.

Non-Interest Income

Non-interest income decreased $1.2 million to income of $4.6 million for the quarter ended September 30, 2024, from $5.8 million for the quarter ended June 30, 2024. Included in non-interest income for the quarter ended June 30, 2024 was a non-recurring contract renewal bonus of $750,000 and $1.1 million in non-recurring payments on two life insurance policies, partially offset by a $392,000 non-recurring exchange charge related to the December 2023 Bank Owned Life Insurance (“BOLI”) restructure. No such non-recurring items were recorded during the quarter ended September 30, 2024.
Income from BOLI decreased $642,000 to $2.6 million for the quarter ended September 30, 2024 from $3.2 million for the quarter ended June 30, 2024, primarily driven by the non-recurring items recorded for the quarter ended June 30, 2024, as disclosed above.

Non-Interest Expense

For the quarter ended September 30, 2024, non-interest expense decreased $96.8 million, or 76.5%, to $29.8 million from $126.6 million for the quarter ended June 30, 2024, driven by a non-cash goodwill impairment recognized in the prior comparative period. Excluding the goodwill impairment, adjusted non-interest expense increased $605,000 from $29.2 million, primarily driven by increases in salary and benefits expense and other expense.
Salary and benefits expense increased $232,000 primarily driven by annual merit increases and higher payroll taxes, partially offset by a non-recurring decrease in stock-based compensation.
Other expense increased $344,000 primarily driven by an increase of $243,000 in the provision for credit losses on off balance sheet commitments.

Income Taxes

Income tax expense totaled $1.1 million for the quarter ended September 30, 2024, compared to an income tax benefit of $917,000 for the quarter ended June 30, 2024. The increase in income tax expense was primarily due to higher pre-tax income in the current quarter, coupled with a partial reversal of the deferred tax liability associated with the previously recorded goodwill impairment in the prior quarter.

Asset Quality

The balance of non-performing assets remained steady at $39.9 million, or 0.51% of total assets, at September 30, 2024, and $39.9 million, or 0.52% of total assets, at June 30, 2024, respectively.
Net charge-offs totaled $124,000, or 0.01% of average loans, on an annualized basis, for the quarter ended September 30, 2024, compared to $3.5 million, or 0.25% of average loans, on an annualized basis, for the quarter ended June 30, 2024.
For the quarter ended September 30, 2024, the Company recorded a provision for credit losses of $108,000, compared to $3.5 million for the quarter ended June 30, 2024. The provision for credit loss expense for the quarter ended September 30, 2024 was primarily driven by loan growth.
The allowance for credit losses (“ACL”) was $44.9 million, or 0.78% of total loans, at September 30, 2024 and remained unchanged from June 30, 2024.

Capital

For the quarter ended September 30, 2024, book value per share decreased $0.06, or 0.5%, to $11.64 while tangible book value per share decreased $0.05, or 0.5%, to $9.85.
At September 30, 2024, total stockholders’ equity included after-tax net unrealized losses on securities available for sale of $76.0 million, partially offset by after-tax unrealized gains on derivatives of $11.0 million. After-tax net unrecognized losses on securities held to maturity of $8.2 million were not reflected in total stockholders’ equity.
At September 30, 2024, the Company’s tangible equity to tangible assets ratio equaled 8.31% and the regulatory capital ratios of both the Company and the Bank were in excess of the levels required by federal banking regulators to be classified as “well-capitalized” under regulatory guidelines.

This earnings release should be read in conjunction with Kearny Financial Corp.’s Q1 2025 Investor Presentation, a copy of which is available through the Investor Relations link located at the bottom of the page of our website at www.kearnybank.com and via a Current Report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov.

Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

Category: Earnings

For further information contact:
Keith Suchodolski, Senior Executive Vice President and Chief Operating Officer, or
Sean Byrnes, Executive Vice President and Chief Financial Officer
Kearny Financial Corp.
(973) 244-4500


Linked-Quarter Comparative Financial Analysis

Kearny Financial Corp. Consolidated Balance Sheets (Unaudited)

(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2024			June 30, 2024			Variance or Change			Variance or Change Pct.
Assets
Cash and cash equivalents	$	155,574		$	63,864		$	91,710		143.6	%
Securities available for sale		1,070,811			1,072,833			(2,022	)	-0.2	%
Securities held to maturity		132,256			135,742			(3,486	)	-2.6	%
Loans held-for-sale		8,866			6,036			2,830		46.9	%
Loans receivable		5,784,246			5,732,787			51,459		0.9	%
Less: allowance for credit losses on loans		(44,923	)		(44,939	)		(16	)	—%
Net loans receivable		5,739,323			5,687,848			51,475		0.9	%
Premises and equipment		45,189			44,940			249		0.6	%
Federal Home Loan Bank stock		57,706			80,300			(22,594	)	-28.1	%
Accrued interest receivable		29,467			29,521			(54	)	-0.2	%
Goodwill		113,525			113,525			—		—	%
Core deposit intangible		1,805			1,931			(126	)	-6.5	%
Bank owned life insurance		300,186			297,874			2,312		0.8	%
Deferred income taxes, net		50,131			50,339			(208	)	-0.4	%
Other assets		67,540			98,708			(31,168	)	-31.6	%
Total assets	$	7,772,379		$	7,683,461		$	88,918		1.2	%

Liabilities
Deposits:
Non-interest-bearing	$	592,099		$	598,366		$	(6,267	)	-1.0	%
Interest-bearing		4,878,413			4,559,757			318,656		7.0	%
Total deposits		5,470,512			5,158,123			312,389		6.1	%
Borrowings		1,479,888			1,709,789			(229,901	)	-13.4	%
Advance payments by borrowers for taxes		17,824			17,409			415		2.4	%
Other liabilities		52,618			44,569			8,049		18.1	%
Total liabilities		7,020,842			6,929,890			90,952		1.3	%

Stockholders’ Equity
Common stock		646			644			2		0.3	%
Paid-in capital		493,523			493,680			(157	)	—	%
Retained earnings		342,522			343,326			(804	)	-0.2	%
Unearned ESOP shares		(20,430	)		(20,916	)		486		2.3	%
Accumulated other comprehensive loss		(64,724	)		(63,163	)		(1,561	)	-2.5	%
Total stockholders’ equity		751,537			753,571			(2,034	)	-0.3	%
Total liabilities and stockholders’ equity	$	7,772,379		$	7,683,461		$	88,918		1.2	%

Consolidated capital ratios
Equity to assets		9.67	%		9.81	%		-0.14	%
Tangible equity to tangible assets ⁽¹⁾		8.31	%		8.43	%		-0.12	%

Share data
Outstanding shares		64,580			64,434			146		0.2	%
Book value per share	$	11.64		$	11.70		$	(0.06	)	-0.5	%
Tangible book value per share ⁽²⁾	$	9.85		$	9.90		$	(0.05	)	-0.5	%

_________________________
(1) Tangible equity equals total stockholders’ equity reduced by goodwill and core deposit intangible assets. Tangible assets equals total assets reduced by goodwill and core deposit intangible assets. (2) Tangible book value equals total stockholders’ equity reduced by goodwill and core deposit intangible assets.


Kearny Financial Corp. Consolidated Statements of Income (Loss) (Unaudited)

(Dollars and Shares in Thousands, Except Per Share Data)	Three Months Ended						Variance or Change			Variance or Change Pct.
(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2024			June 30, 2024			Variance or Change			Variance or Change Pct.
Interest income
Loans	$	66,331		$	65,819		$	512		0.8	%
Taxable investment securities		14,384			14,802			(418	)	-2.8	%
Tax-exempt investment securities		71			80			(9	)	-11.3%
Other interest-earning assets		2,466			2,289			177		7.7	%
Total interest income		83,252			82,990			262		0.3	%

Interest expense
Deposits		35,018			32,187			2,831		8.8	%
Borrowings		15,788			17,527			(1,739	)	-9.9	%
Total interest expense		50,806			49,714			1,092		2.2	%
Net interest income		32,446			33,276			(830	)	-2.5	%
Provision for credit losses		108			3,527			(3,419	)	-96.9	%
Net interest income after provision for credit losses		32,338			29,749			2,589		8.7	%

Non-interest income
Fees and service charges		635			580			55		9.5	%
Gain on sale of loans		200			111			89		80.2	%
Income from bank owned life insurance		2,567			3,209			(642	)	-20.0	%
Electronic banking fees and charges		391			1,130			(739	)	-65.4	%
Other income		833			776			57		7.3	%
Total non-interest income		4,626			5,806			(1,180	)	-20.3	%

Non-interest expense
Salaries and employee benefits		17,498			17,266			232		1.3	%
Net occupancy expense of premises		2,798			2,738			60		2.2	%
Equipment and systems		3,860			3,785			75		2.0	%
Advertising and marketing		342			480			(138	)	-28.8	%
Federal deposit insurance premium		1,563			1,532			31		2.0	%
Directors’ compensation		361			360			1		0.3	%
Goodwill impairment		—			97,370			(97,370	)	-100.0	%
Other expense		3,364			3,020			344		11.4	%
Total non-interest expense		29,786			126,551			(96,765	)	-76.5	%
Income (loss) before income taxes		7,178			(90,996	)		98,174		107.9	%
Income taxes		1,086			(917	)		2,003		-218.4	%
Net income (loss)	$	6,092		$	(90,079	)	$	96,171		106.8	%

Net income (loss) per common share (EPS)
Basic	$	0.10		$	(1.45	)	$	1.55
Diluted	$	0.10		$	(1.45	)	$	1.55

Dividends declared
Cash dividends declared per common share	$	0.11		$	0.11		$	—
Cash dividends declared	$	6,896		$	6,903		$	(7	)
Dividend payout ratio		113.2	%		-7.7	%		120.9	%

Weighted average number of common shares outstanding
Basic		62,389			62,254			135
Diluted		62,420			62,254			166


Kearny Financial Corp. Average Balance Sheet Data (Unaudited)

(Dollars in Thousands)	Three Months Ended						Variance or Change			Variance or Change Pct.
(Dollars in Thousands)	September 30, 2024			June 30, 2024			Variance or Change			Variance or Change Pct.
Assets
Interest-earning assets:
Loans receivable, including loans held for sale	$	5,761,593		$	5,743,008		$	18,585		0.3	%
Taxable investment securities		1,314,945			1,343,541			(28,596	)	-2.1	%
Tax-exempt investment securities		12,244			13,737			(1,493	)	-10.9	%
Other interest-earning assets		131,981			128,257			3,724		2.9	%
Total interest-earning assets		7,220,763			7,228,543			(7,780	)	-0.1	%
Non-interest-earning assets		467,670			466,537			1,133		0.2	%
Total assets	$	7,688,433		$	7,695,080		$	(6,647	)	-0.1	%

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand	$	2,282,608		$	2,310,521		$	(27,913	)	-1.2	%
Savings		668,240			631,622			36,618		5.8	%
Certificates of deposit		1,755,589			1,613,798			141,791		8.8	%
Total interest-bearing deposits		4,706,437			4,555,941			150,496		3.3	%
Borrowings:
Federal Home Loan Bank advances		1,325,583			1,507,192			(181,609	)	-12.0	%
Other borrowings		237,011			228,461			8,550		3.7	%
Total borrowings		1,562,594			1,735,653			(173,059	)	-10.0	%
Total interest-bearing liabilities		6,269,031			6,291,594			(22,563	)	-0.4	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits		599,095			589,438			9,657		1.6	%
Other non-interest-bearing liabilities		69,629			62,978			6,651		10.6	%
Total non-interest-bearing liabilities		668,724			652,416			16,308		2.5	%
Total liabilities		6,937,755			6,944,010			(6,255	)	-0.1	%
Stockholders’ equity		750,678			751,070			(392	)	-0.1	%
Total liabilities and stockholders’ equity	$	7,688,433		$	7,695,080		$	(6,647	)	-0.1	%

Average interest-earning assets to average interest-bearing liabilities		115.18	%		114.89	%		0.29	%	0.3	%


Kearny Financial Corp. Performance Ratio Highlights (Unaudited)
	Three Months Ended				Variance or Change
	September 30, 2024		June 30, 2024		Variance or Change
Average yield on interest-earning assets:
Loans receivable, including loans held for sale	4.61	%	4.58	%	0.03	%
Taxable investment securities	4.38	%	4.41	%	-0.03	%
Tax-exempt investment securities ⁽¹⁾	2.32	%	2.32	%	—	%
Other interest-earning assets	7.47	%	7.14	%	0.33	%
Total interest-earning assets	4.61	%	4.59	%	0.02	%

Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	3.13	%	3.06	%	0.07	%
Savings	1.05	%	0.63	%	0.42	%
Certificates of deposit	3.51	%	3.35	%	0.16	%
Total interest-bearing deposits	2.98	%	2.83	%	0.15	%
Borrowings:
Federal Home Loan Bank advances	3.82	%	3.86	%	-0.04	%
Other borrowings	5.28	%	5.24	%	0.04	%
Total borrowings	4.04	%	4.04	%	—	%
Total interest-bearing liabilities	3.24	%	3.16	%	0.08	%

Interest rate spread ⁽²⁾	1.37	%	1.43	%	-0.06	%
Net interest margin ⁽³⁾	1.80	%	1.84	%	-0.04	%

Non-interest income to average assets (annualized)	0.24	%	0.30	%	-0.06	%
Non-interest expense to average assets (annualized)	1.55	%	6.58	%	-5.03	%

Efficiency ratio ⁽⁴⁾	80.35	%	323.81	%	-243.46	%

Return on average assets (annualized)	0.32	%	-4.68	%	5.00	%
Return on average equity (annualized)	3.25	%	-47.97	%	51.22	%
Return on average tangible equity (annualized) ⁽⁵⁾	3.89	%	3.33	%	0.56	%

_________________________
(1) The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield. (2) Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities. (3) Net interest income divided by average interest-earning assets. (4) Non-interest expense divided by the sum of net interest income and non-interest income. (5) Average tangible equity equals total average stockholders’ equity reduced by average goodwill and average core deposit intangible assets.


Five-Quarter Financial Trend Analysis

Kearny Financial Corp. Consolidated Balance Sheets

(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
	(Unaudited)			(Audited)			(Unaudited)			(Unaudited)			(Unaudited)
Assets
Cash and cash equivalents	$	155,574		$	63,864		$	71,027		$	73,860		$	57,219
Securities available for sale		1,070,811			1,072,833			1,098,655			1,144,175			1,215,633
Securities held to maturity		132,256			135,742			139,643			141,959			143,730
Loans held-for-sale		8,866			6,036			4,117			14,030			3,934
Loans receivable		5,784,246			5,732,787			5,758,336			5,745,629			5,736,049
Less: allowance for credit losses on loans		(44,923	)		(44,939	)		(44,930	)		(44,867	)		(46,872	)
Net loans receivable		5,739,323			5,687,848			5,713,406			5,700,762			5,689,177
Premises and equipment		45,189			44,940			45,053			45,928			46,868
Federal Home Loan Bank stock		57,706			80,300			81,347			83,372			81,509
Accrued interest receivable		29,467			29,521			31,065			30,258			29,766
Goodwill		113,525			113,525			210,895			210,895			210,895
Core deposit intangible		1,805			1,931			2,057			2,189			2,323
Bank owned life insurance		300,186			297,874			296,493			256,064			294,491
Deferred income taxes, net		50,131			50,339			47,225			46,116			56,500
Other real estate owned		—			—			—			11,982			12,956
Other assets		67,540			98,708			100,989			136,242			129,865
Total assets	$	7,772,379		$	7,683,461		$	7,841,972		$	7,897,832		$	7,974,866

Liabilities
Deposits:
Non-interest-bearing	$	592,099		$	598,366		$	586,089		$	584,130		$	595,141
Interest-bearing		4,878,413			4,559,757			4,622,961			4,735,500			4,839,027
Total deposits		5,470,512			5,158,123			5,209,050			5,319,630			5,434,168
Borrowings		1,479,888			1,709,789			1,722,178			1,667,055			1,626,933
Advance payments by borrowers for taxes		17,824			17,409			17,387			16,742			16,907
Other liabilities		52,618			44,569			44,279			46,427			47,324
Total liabilities		7,020,842			6,929,890			6,992,894			7,049,854			7,125,332

Stockholders’ Equity
Common stock		646			644			644			645			652
Paid-in capital		493,523			493,680			493,187			493,297			497,269
Retained earnings		342,522			343,326			440,308			439,755			460,464
Unearned ESOP shares		(20,430	)		(20,916	)		(21,402	)		(21,889	)		(22,375	)
Accumulated other comprehensive loss		(64,724	)		(63,163	)		(63,659	)		(63,830	)		(86,476	)
Total stockholders’ equity		751,537			753,571			849,078			847,978			849,534
Total liabilities and stockholders’ equity	$	7,772,379		$	7,683,461		$	7,841,972		$	7,897,832		$	7,974,866

Consolidated capital ratios
Equity to assets		9.67	%		9.81	%		10.83	%		10.74	%		10.65	%
Tangible equity to tangible assets ⁽¹⁾		8.31	%		8.43	%		8.34	%		8.26	%		8.20	%

Share data
Outstanding shares		64,580			64,434			64,437			64,445			65,132
Book value per share	$	11.64		$	11.70		$	13.18		$	13.16		$	13.04
Tangible book value per share ⁽²⁾	$	9.85		$	9.90		$	9.87		$	9.85		$	9.77

_________________________
(1) Tangible equity equals total stockholders’ equity reduced by goodwill and core deposit intangible assets. Tangible assets equals total assets reduced by goodwill and core deposit intangible assets. (2) Tangible book value equals total stockholders’ equity reduced by goodwill and core deposit intangible assets.


Kearny Financial Corp. Supplemental Balance Sheet Highlights (Unaudited)

(Dollars in Thousands)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Loan portfolio composition:
Commercial loans:
Multi-family mortgage	$	2,646,187		$	2,645,851		$	2,645,195		$	2,651,274		$	2,699,151
Nonresidential mortgage		950,771			948,075			965,539			947,287			946,801
Commercial business		145,984			142,747			147,326			144,134			149,229
Construction		227,327			209,237			229,457			221,933			230,703
Total commercial loans		3,970,269			3,945,910			3,987,517			3,964,628			4,025,884
One- to four-family residential mortgage		1,768,230			1,756,051			1,741,644			1,746,065			1,689,051
Consumer loans:
Home equity loans		44,741			44,104			42,731			43,517			42,896
Other consumer		2,965			2,685			3,198			2,728			2,644
Total consumer loans		47,706			46,789			45,929			46,245			45,540
Total loans, excluding yield adjustments		5,786,205			5,748,750			5,775,090			5,756,938			5,760,475
Unaccreted yield adjustments		(1,959	)		(15,963	)		(16,754	)		(11,309	)		(24,426	)
Loans receivable, net of yield adjustments		5,784,246			5,732,787			5,758,336			5,745,629			5,736,049
Less: allowance for credit losses on loans		(44,923	)		(44,939	)		(44,930	)		(44,867	)		(46,872	)
Net loans receivable	$	5,739,323		$	5,687,848		$	5,713,406		$	5,700,762		$	5,689,177

Asset quality:
Nonperforming assets:
Accruing loans – 90 days and over past due	$	—		$	—		$	—		$	—		$	—
Nonaccrual loans		39,854			39,882			39,546			28,089			37,912
Total nonperforming loans		39,854			39,882			39,546			28,089			37,912
Nonaccrual loans held-for-sale		—			—			—			9,700			—
Other real estate owned		—			—			—			11,982			12,956
Total nonperforming assets	$	39,854		$	39,882		$	39,546		$	49,771		$	50,868

Nonperforming loans (% total loans)		0.69	%		0.70	%		0.69	%		0.49	%		0.66	%
Nonperforming assets (% total assets)		0.51	%		0.52	%		0.50	%		0.63	%		0.64	%

Classified loans	$	119,534		$	118,700		$	115,772		$	94,676		$	98,616

Allowance for credit losses on loans (ACL):
ACL to total loans		0.78	%		0.78	%		0.78	%		0.78	%		0.81	%
ACL to nonperforming loans		112.72	%		112.68	%		113.61	%		159.73	%		123.63	%
Net charge-offs	$	124		$	3,518		$	286		$	4,110		$	2,107
Average net charge-off rate (annualized)		0.01	%		0.25	%		0.02	%		0.29	%		0.15	%


Kearny Financial Corp. Supplemental Balance Sheet Highlights (Unaudited)

(Dollars in Thousands)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Funding composition:
Deposits:
Non-interest-bearing deposits	$	592,099		$	598,367		$	586,089		$	584,130		$	595,141
Interest-bearing demand		2,247,685			2,308,915			2,349,032			2,347,262			2,236,573
Savings		681,709			643,481			630,456			646,182			689,163
Certificates of deposit (retail)		1,215,746			1,199,127			1,235,261			1,283,676			1,300,382
Certificates of deposit (brokered and listing service)		733,273			408,234			408,212			458,380			612,909
Interest-bearing deposits		4,878,413			4,559,757			4,622,961			4,735,500			4,839,027
Total deposits		5,470,512			5,158,124			5,209,050			5,319,630			5,434,168

Borrowings:
Federal Home Loan Bank advances		1,209,888			1,534,789			1,457,178			1,432,055			1,456,933
Overnight borrowings		270,000			175,000			265,000			235,000			170,000
Total borrowings		1,479,888			1,709,789			1,722,178			1,667,055			1,626,933

Total funding	$	6,950,400		$	6,867,913		$	6,931,228		$	6,986,685		$	7,061,101

Loans as a % of deposits		105.1	%		110.4	%		109.8	%		107.4	%		104.8	%
Deposits as a % of total funding		78.7	%		75.1	%		75.2	%		76.1	%		77.0	%
Borrowings as a % of total funding		21.3	%		24.9	%		24.8	%		23.9	%		23.0	%

Uninsured deposits:
Uninsured deposits (reported) ⁽¹⁾	$	1,799,726		$	1,772,623		$	1,760,740		$	1,813,122		$	1,734,288
Uninsured deposits (adjusted) ⁽²⁾	$	773,375		$	764,447		$	718,026		$	694,510		$	683,265

_________________________
(1) Uninsured deposits of Kearny Bank. (2) Uninsured deposits of Kearny Bank adjusted to exclude deposits of its wholly-owned subsidiary and holding company and collateralized deposits of state and local governments.


Kearny Financial Corp. Consolidated Statements of Income (Loss) (Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Interest income
Loans	$	66,331		$	65,819		$	64,035		$	63,384		$	62,769
Taxable investment securities		14,384			14,802			15,490			16,756			16,265
Tax-exempt investment securities		71			80			85			84			87
Other interest-earning assets		2,466			2,289			2,475			2,401			2,047
Total interest income		83,252			82,990			82,085			82,625			81,168

Interest expense
Deposits		35,018			32,187			32,320			30,340			27,567
Borrowings		15,788			17,527			15,446			16,446			14,441
Total interest expense		50,806			49,714			47,766			46,786			42,008
Net interest income		32,446			33,276			34,319			35,839			39,160
Provision for credit losses		108			3,527			349			2,105			245
Net interest income after provision for credit losses		32,338			29,749			33,970			33,734			38,915

Non-interest income
Fees and service charges		635			580			657			624			748
Loss on sale and call of securities		—			—			—			(18,135	)		—
Gain (loss) on sale of loans		200			111			(712	)		104			215
Loss on sale of other real estate owned		—			—			—			(974	)		—
Income from bank owned life insurance		2,567			3,209			3,039			1,162			1,666
Electronic banking fees and charges		391			1,130			464			396			367
Other income		833			776			755			811			1,014
Total non-interest income		4,626			5,806			4,203			(16,012	)		4,010

Non-interest expense
Salaries and employee benefits		17,498			17,266			16,911			17,282			17,761
Net occupancy expense of premises		2,798			2,738			2,863			2,674			2,758
Equipment and systems		3,860			3,785			3,823			3,814			3,801
Advertising and marketing		342			480			387			301			228
Federal deposit insurance premium		1,563			1,532			1,429			1,495			1,524
Directors’ compensation		361			360			360			393			393
Goodwill impairment		—			97,370			—			—			—
Other expense		3,364			3,020			3,286			3,808			3,309
Total non-interest expense		29,786			126,551			29,059			29,767			29,774
Income (loss) before income taxes		7,178			(90,996	)		9,114			(12,045	)		13,151
Income taxes		1,086			(917	)		1,717			1,782			3,309
Net income (loss)	$	6,092		$	(90,079	)	$	7,397		$	(13,827	)	$	9,842

Net income (loss) per common share (EPS)
Basic	$	0.10		$	(1.45	)	$	0.12		$	(0.22	)	$	0.16
Diluted	$	0.10		$	(1.45	)	$	0.12		$	(0.22	)	$	0.16

Dividends declared
Cash dividends declared per common share	$	0.11		$	0.11		$	0.11		$	0.11		$	0.11
Cash dividends declared	$	6,896		$	6,903		$	6,844		$	6,882		$	6,989
Dividend payout ratio		113.2	%		-7.7	%		92.5	%		-49.8	%		71.0	%

Weighted average number of common shares outstanding
Basic		62,389			62,254			62,205			62,299			63,014
Diluted		62,420			62,254			62,211			62,299			63,061


Kearny Financial Corp. Average Balance Sheet Data (Unaudited)

	Three Months Ended
(Dollars in Thousands)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Assets
Interest-earning assets:
Loans receivable, including loans held-for-sale	$	5,761,593		$	5,743,008		$	5,752,477		$	5,726,321		$	5,788,074
Taxable investment securities		1,314,945			1,343,541			1,382,064			1,509,165			1,516,393
Tax-exempt investment securities		12,244			13,737			14,614			15,025			15,483
Other interest-earning assets		131,981			128,257			125,155			139,740			130,829
Total interest-earning assets		7,220,763			7,228,543			7,274,310			7,390,251			7,450,779
Non-interest-earning assets		467,670			466,537			577,411			554,335			568,723
Total assets	$	7,688,433		$	7,695,080		$	7,851,721		$	7,944,586		$	8,019,502

Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Deposits:
Interest-bearing demand	$	2,282,608		$	2,310,521		$	2,378,831		$	2,301,169		$	2,245,831
Savings		668,240			631,622			635,226			664,926			719,508
Certificates of deposit		1,755,589			1,613,798			1,705,513			1,824,316			1,968,512
Total interest-bearing deposits		4,706,437			4,555,941			4,719,570			4,790,411			4,933,851
Borrowings:
Federal Home Loan Bank advances		1,325,583			1,507,192			1,428,801			1,513,497			1,386,473
Other borrowings		237,011			228,461			210,989			142,283			158,098
Total borrowings		1,562,594			1,735,653			1,639,790			1,655,780			1,544,571
Total interest-bearing liabilities		6,269,031			6,291,594			6,359,360			6,446,191			6,478,422
Non-interest-bearing liabilities:
Non-interest-bearing deposits		599,095			589,438			581,870			597,294			612,251
Other non-interest-bearing liabilities		69,629			62,978			65,709			62,387			66,701
Total non-interest-bearing liabilities		668,724			652,416			647,579			659,681			678,952
Total liabilities		6,937,755			6,944,010			7,006,939			7,105,872			7,157,374
Stockholders’ equity		750,678			751,070			844,782			838,714			862,128
Total liabilities and stockholders’ equity	$	7,688,433		$	7,695,080		$	7,851,721		$	7,944,586		$	8,019,502

Average interest-earning assets to average interest-bearing liabilities		115.18	%		114.89	%		114.39	%		114.65	%		115.01	%


Kearny Financial Corp. Performance Ratio Highlights
	Three Months Ended
	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023
Average yield on interest-earning assets:
Loans receivable, including loans held-for-sale	4.61	%	4.58	%	4.45	%	4.43	%	4.34	%
Taxable investment securities	4.38	%	4.41	%	4.48	%	4.44	%	4.29	%
Tax-exempt investment securities ⁽¹⁾	2.32	%	2.32	%	2.32	%	2.25	%	2.25	%
Other interest-earning assets	7.47	%	7.14	%	7.91	%	6.87	%	6.26	%
Total interest-earning assets	4.61	%	4.59	%	4.51	%	4.47	%	4.36	%

Average cost of interest-bearing liabilities:
Deposits:
Interest-bearing demand	3.13	%	3.06	%	3.08	%	2.91	%	2.58	%
Savings	1.05	%	0.63	%	0.46	%	0.44	%	0.47	%
Certificates of deposit	3.51	%	3.35	%	3.11	%	2.82	%	2.49	%
Total interest-bearing deposits	2.98	%	2.83	%	2.74	%	2.53	%	2.23	%
Borrowings:
Federal Home Loan Bank advances	3.82	%	3.86	%	3.55	%	3.82	%	3.54	%
Other borrowings	5.28	%	5.24	%	5.22	%	5.65	%	5.46	%
Total borrowings	4.04	%	4.04	%	3.77	%	3.97	%	3.74	%
Total interest-bearing liabilities	3.24	%	3.16	%	3.00	%	2.90	%	2.59	%

Interest rate spread ⁽²⁾	1.37	%	1.43	%	1.51	%	1.57	%	1.77	%
Net interest margin ⁽³⁾	1.80	%	1.84	%	1.89	%	1.94	%	2.10	%

Non-interest income to average assets (annualized)	0.24	%	0.30	%	0.21	%	-0.81	%	0.20	%
Non-interest expense to average assets (annualized)	1.55	%	6.58	%	1.48	%	1.50	%	1.49	%

Efficiency ratio ⁽⁴⁾	80.35	%	323.81	%	75.43	%	150.13	%	68.97	%

Return on average assets (annualized)	0.32	%	-4.68	%	0.38	%	-0.70	%	0.49	%
Return on average equity (annualized)	3.25	%	-47.97	%	3.50	%	-6.59	%	4.57	%
Return on average tangible equity (annualized) ⁽⁵⁾	3.89	%	3.33	%	4.68	%	-8.84	%	6.07	%

_________________________
(1) The yield on tax-exempt investment securities has not been adjusted to reflect their tax-effective yield. (2) Interest income divided by average interest-earning assets less interest expense divided by average interest-bearing liabilities. (3) Net interest income divided by average interest-earning assets. (4) Non-interest expense divided by the sum of net interest income and non-interest income. (5) Average tangible equity equals total average stockholders’ equity reduced by average goodwill and average core deposit intangible assets.

The following tables provide a reconciliation of certain financial measures calculated in accordance with Generally Accepted Accounting Principles (“GAAP”) (as reported) and non-GAAP measures. These non-GAAP measures provide additional information which allow readers to evaluate the ongoing performance of the Company. They are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders.


Kearny Financial Corp. Reconciliation of GAAP to Non-GAAP (Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Adjusted net income:
Net income (loss) (GAAP)	$	6,092		$	(90,079	)	$	7,397		$	(13,827	)	$	9,842
Non-recurring transactions – net of tax:
Net effect of sale and call of securities		—			—			—			12,876			—
Net effect of bank-owned life insurance restructure		—			392			—			6,286			—
Goodwill impairment		—			95,283			—			—			—
Adjusted net income	$	6,092		$	5,596		$	7,397		$	5,335		$	9,842

Calculation of pre-tax, pre-provision net revenue:
Net income (loss) (GAAP)	$	6,092		$	(90,079	)	$	7,397		$	(13,827	)	$	9,842
Adjustments to net income (GAAP):
Provision for income taxes		1,086			(917	)		1,717			1,782			3,309
Provision for credit losses		108			3,527			349			2,105			245
Pre-tax, pre-provision net revenue (non-GAAP)	$	7,286		$	(87,469	)	$	9,463		$	(9,940	)	$	13,396

Adjusted earnings per share:
Weighted average common shares – basic		62,389			62,254			62,205			62,299			63,014
Weighted average common shares – diluted		62,420			62,330			62,211			62,367			63,061

Earnings per share – basic (GAAP)	$	0.10		$	(1.45	)	$	0.12		$	(0.22	)	$	0.16
Earnings per share – diluted (GAAP)	$	0.10		$	(1.45	)	$	0.12		$	(0.22	)	$	0.16

Adjusted earnings per share – basic (non-GAAP)	$	0.10		$	0.09		$	0.12		$	0.09		$	0.16
Adjusted earnings per share – diluted (non-GAAP)	$	0.10		$	0.09		$	0.12		$	0.09		$	0.16

Pre-tax, pre-provision net revenue per share:
Pre-tax, pre-provision net revenue per share – basic (non-GAAP)	$	0.12		$	(1.41	)	$	0.15		$	(0.16	)	$	0.21
Pre-tax, pre-provision net revenue per share – diluted (non-GAAP)	$	0.12		$	(1.40	)	$	0.15		$	(0.16	)	$	0.21

Adjusted return on average assets:
Total average assets	$	7,688,433		$	7,695,080		$	7,851,721		$	7,944,586		$	8,019,502

Return on average assets (GAAP)		0.32	%		-4.68	%		0.38	%		-0.70	%		0.49	%
Adjusted return on average assets (non-GAAP)		0.32	%		0.29	%		0.38	%		0.27	%		0.49	%

Adjusted return on average equity:
Total average equity	$	750,678		$	751,070		$	844,782		$	838,714		$	862,128

Return on average equity (GAAP)		3.25	%		-47.97	%		3.50	%		-6.59	%		4.57	%
Adjusted return on average equity (non-GAAP)		3.25	%		2.98	%		3.50	%		2.54	%		4.57	%


Kearny Financial Corp. Reconciliation of GAAP to Non-GAAP (Unaudited)

	Three Months Ended
(Dollars and Shares in Thousands, Except Per Share Data)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Adjusted return on average tangible equity:
Total average equity	$	750,678		$	751,070		$	844,782		$	838,714		$	862,128
Less: average goodwill		(113,525	)		(113,525	)		(210,895	)		(210,895	)		(210,895	)
Less: average other intangible assets		(1,886	)		(2,006	)		(2,138	)		(2,277	)		(2,411	)
Total average tangible equity	$	635,267		$	635,539		$	631,749		$	625,542		$	648,822

Return on average tangible equity (non-GAAP)		3.89	%		3.33	%		4.68	%		-8.84	%		6.07	%
Adjusted return on average tangible equity (non-GAAP)		3.89	%		3.58	%		4.68	%		3.41	%		6.07	%

Adjusted non-interest expense ratio:
Non-interest expense (GAAP)	$	29,786		$	126,551		$	29,059		$	29,767		$	29,774
Non-recurring transactions:
Goodwill impairment		—			(97,370	)		—			—			—
Non-interest expense (non-GAAP)	$	29,786		$	29,181		$	29,059		$	29,767		$	29,774

Non-interest expense ratio (GAAP)		1.55	%		6.58	%		1.48	%		1.50	%		1.49	%
Adjusted non-interest expense ratio (non-GAAP)		1.55	%		1.52	%		1.48	%		1.50	%		1.49	%

Adjusted efficiency ratio:
Non-interest expense (non-GAAP)	$	29,786		$	29,181		$	29,059		$	29,767		$	29,774

Net interest income (GAAP)	$	32,446		$	33,276		$	34,319		$	35,839		$	39,160
Total non-interest income (GAAP)		4,626			5,806			4,203			(16,012	)		4,010
Non-recurring transactions:
Net effect of sale and call of securities		—			—			—			18,135			—
Net effect of bank-owned life insurance restructure		—			392			—			573			—
Total revenue (non-GAAP)	$	37,072		$	39,474		$	38,522		$	38,535		$	43,170

Efficiency ratio (GAAP)		80.35	%		323.81	%		75.43	%		150.13	%		68.97	%
Adjusted efficiency ratio (non-GAAP)		80.35	%		73.92	%		75.43	%		77.25	%		68.97	%

The MIL Network –

January 25, 2025

MIL-OSI: E Split Corp. Class A Distribution

Source: GlobeNewswire (MIL-OSI)

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — E Split Corp. (TSX: ENS) (the “Fund”) is pleased to announce that a distribution for October 2024 will be payable to Class A shareholders of E Split Corp. as follows:

*Record Date*	*Payable Date*	Distribution Per Equity Share
October 31, 2024	November 15, 2024	$0.13

The equity shares trade on the Toronto Stock Exchange under the symbol ENS.

For further information, please visit our website at www.middlefield.com or contact our Sales and Marketing Department at 1.888.890.1868.

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described under “Risk Factors” in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

The MIL Network –

January 25, 2025

MIL-OSI: Pineapple Energy Subsidiary SUNation Completes Foundational Engineering Work on 8.46 MW Commercial Installations Valued at $11 Million

Source: GlobeNewswire (MIL-OSI)

RONKONKOMA, N.Y., Oct. 24, 2024 (GLOBE NEWSWIRE) — SUNation, the New York-based subsidiary of Pineapple Energy Inc. (Nasdaq: PEGY) (Pineapple Energy) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, has completed the foundational engineering work for an 8.46 MW series of commercial projects on Long Island collectively valued at $11 million.

The work was performed as part of an exclusive Letter of Intent on the engineering portion of the project. SUNation is working with the project principals to finalize details for contracts that would have the Company perform installation of photovoltaic modules and racking systems across their various sites. Any future work agreed upon via letters of intent between the two parties is non-binding and subject to normal closing conditions.

As is typical with commercial contracts in the solar space, the client wishes to remain anonymous. While the next scope-of-work is being fine-tuned, if things proceed, the company expects construction to begin in 2025.

“The commercial side of the business is the solar success story of 2024,” Scott Maskin, Pineapple Energy’s interim CEO noted. “But these projects are quite complex. Still, we continue to see how benefits for both business owners who go solar and the expansion of green energy options to the broader community make these efforts well-worth it.”

“The engineering work behind projects like these often evolve over time to reflect subtle shifts in approach,” John Mucci, SUNation’s General Manager of New York Operations, noted. “We’re seeing more and more projects come in as distinct ‘packages’ of sites for us to work on, instead of simply targeting one individual structure. Based on the trends, we expect this type of bundling to continue well into next year.”

About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services.

Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances, including the Company’s expectations regarding its ability to effect the reverse stock split and regain compliance with Nasdaq’s continued listing standards. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.

Safe Harbor Statement
Our prospects here at Pineapple Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company’s filings with the SEC which can be found on the SEC’s website at www.sec.gov.

Contacts:
Scott Maskin
Interim Chief Executive Officer
+1 (631) 823-7131
scott.maskin@pineappleenergy.com

Pineapple Investor Relations
+1 (952) 996-1674
IR@pineappleenergy.com

The MIL Network –

January 25, 2025

MIL-OSI: LNG Energy Group Announces Release of Its Sustainability Report

Source: GlobeNewswire (MIL-OSI)

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) (the “Company” or “LNG Energy Group”) today released its 2023 Sustainability Report (the “Sustainability Report”).

“I am pleased to report that LNG Energy Group has released its Sustainability Report and has taken a leading role in ESG and sustainability initiatives in Colombia,” comments Pablo Navarro, Chairman and Chief Executive Officer of the Company. “Our Sustainability Report highlights all of our important activities in Colombia and our approach to minimizing our environmental impact while improving the living standards of our local communities.”

The Sustainability Report presents the Company’s sustainability initiatives in 2023 and into 2024. The Sustainability Report can be accessed on the Company’s website at: https://www.lngenergygroup.com/sustainability.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About LNG Energy Group

The Company is focused on the acquisition and development of oil and gas exploration and production assets in Latin America.

For more information, please see below:

Website:
www.lngenergygroup.com

Investor Relations:
James Morris, Vice-President, Business Development and Investor Relations
Email: investor.relations@lngenergygroup.com
Telephone: 205-835-0676

Find us on social media:
LinkedIn: https://www.linkedin.com/company/lng-energy-group-inc/
Instagram: @lngenergygroup
X: @LNGEnergyCorp

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often using phrases such as “expects”, “anticipates”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends”, or variations of such words and phrases, or stating that certain actions, events or results “may” or “could”, “would”, “should”, “might” or “will” be taken to occur or be achieved, are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include: general business, economic, competitive, political and social uncertainties; delay or failure to receive any necessary board, shareholder or regulatory approvals, factors may occur which impede or prevent LNG Energy Group’s future business plans; and other factors beyond the control of LNG Energy Group. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, LNG Energy Group assumes no obligation to update the forward-looking statements, whether they change as a result of new information, future events or otherwise, except as required by law.

The MIL Network –

January 25, 2025

MIL-OSI: Billion Dollar Commercial Drone Market Poised for Continued Growth, Driven by A.I. Technological Advances

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., Oct. 24, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The commercial drone market is experiencing significant growth due to increasing demand from various industries such as construction, agriculture, security, military applications and so much more. Drones offer benefits like cost savings, improved efficiency, and enhanced safety for businesses. Market size is projected to reach USD12.3 billion by 2025, driven by technological advancements and regulatory approvals. AI is driving market transformation… The global commercial drones market size is estimated to grow by USD $126.87 billion from 2024-2028, according to a report from Technavio. The market is estimated to grow at a CAGR of 57.74% during the forecast period. Rising applications of drones is driving market growth, with a trend towards new developments and launches of commercial drones. The report continued: “The commercial drones market is experiencing significant growth due to the continuous introduction of new drones, components, and software solutions by vendors. Companies across various industries are integrating drones into their operations for managing assets, monitoring sites, inspecting facilities, and capturing real-time data… featuring advanced autonomous flight technology and Artificial Intelligence, ensuring safe and stable flight in challenging environments. Such innovations increase the availability of advanced drone products and software solutions, fueling the adoption of commercial drones in the forecast period.” Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), C3 AI (NYSE: AI), NVIDIA Corporation (NASDAQ: NVDA), SoundHound AI, Inc. (NASDAQ: SOUN), AeroVironment (NASDAQ: AVAV).

“The Commercial Drone Market is experiencing significant growth, particularly in sectors like… Agriculture. Drones equipped with high-quality Cameras are trending, with VAPOR Helicopter leading the way. Artificial Intelligence and Machine Learning are revolutionizing Decision making in industries, from Inspection activities to Farm management. Hybrid drones, combining features of Quadcopters, Octocopters, and Hexacopters, are gaining popularity. In Agriculture, drones help reduce costs, increase Yield, and monitor crops using services like Raptor Maps. Filmmakers and Ecommerce sectors also benefit from aerial photography and warehouse management. The Commercial Drone Market is experiencing significant growth as Quadcopters, Octocopters, and Hexacopters find increasing applications in various sectors. Challenges in flight control, firmware, middleware, computer vision, and environmental awareness are being addressed through technological advances in electronics, computing, microcontrollers, and processors.”

ZenaTech Inc. (NASDAQ:ZENA) Issues Big Development News Today on Adding Patent Assets to the Company – Get the full details by visiting: https://www.financialnewsmedia.com/news-zena/

Additional Groundbreaking ZenaTech Inc. Developments this week include:

ZenaTech Announced a Software Company Acquisition Adding Significant Capabilities to Building AI Drones – ZenaTech also announced that it has entered into an agreement to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech’s former parent company. The acquisition of these two software companies will provide important compliance and inspection software as well as scheduling and mapping software that will be incorporated into ZenaTech’s ZenaDrone AI drone solutions. This transaction further expands ZenaTech’s portfolio of SaaS software solutions and customer base and is expected to add to recurring revenue in the government sector among others. The acquisition is subject to shareholder and regulatory approvals that may be required.

“Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of our strategy to offer full stack, integrated AI drone solutions targeted to multiple sectors such as Agriculture. Jadian’s compliance software will be integrated with ZenaDrone drone hardware and sensors to help farmers track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions. Deskflex scheduling and mapping software will add value integrated into our property management sector solutions,” said CEO Shaun Passley, Ph.D. Read this full release at: https://finance.yahoo.com/news/zenatech-announces-software-company-acquisition-113000656.html

Other recent developments in the technology industry include:

C3 AI (NYSE: AI) recently announced the newly re-branded C3 AI Asset Performance Suite, a collection of powerful, purpose-built AI applications that work together to help enterprises maximize value and improve sustainability performance. The C3 AI Asset Performance Suite includes C3 AI Reliability, C3 AI Process Optimization, and C3 AI Energy Management. These applications offer enterprises optimized asset performance through improvements in operational efficiency across business units.

“C3 AI is the leader in AI-powered predictive maintenance, and our customers are some of the most satisfied in the industry because our technology makes a positive impact on their bottom line and continually maximizes their investments,” said Thomas M. Siebel, CEO, C3 AI. “This re-brand of the C3 AI Asset Performance Suite is in recognition that customers realize the most value by deploying applications that work in concert together and address entire value chains; in this case, with predictive maintenance, process optimization, and energy management.”

SoundHound AI, Inc. (NASDAQ: SOUN), a global leader in voice artificial intelligence, recently announced its SoundHound Chat AI voice assistant has launched new customization tools to help transform how automotive brands interact with their customers within the vehicle. The new features are currently being piloted with some of SoundHound’s OEM partners.

In addition to the core features offered from SoundHound Chat AI’s best-in-class voice assistant – which integrates generative AI capabilities with car controls and real-time domains like flight times, navigation, and weather – OEMs will be able to take control with customizations that work for their loyal consumers and align closely with their identity as an automaker. This new layer of customization will provide drivers with a more engaging and informative experience, allowing them to explore vehicle features and functionalities with greater ease and effectiveness.

AeroVironment (NASDAQ: AVAV) recently announced that the U.S. Army has awarded a $54.9 million delivery order for the production of Switchblade^® loitering munition systems. The recently announced award includes an additional contract ceiling of $743 million with $54.9 million in new funding. This contract is issued as part of a broader, previously executed, indefinite delivery, indefinite quantity contract, and ensures continued support for both the U.S. Army and several allied partners, including Lithuania, Romania, and Sweden.

Work on this contract will be performed in Simi Valley, California, with an estimated completion date of June 30, 2026. The award, which leverages fiscal 2023 and 2024 Army funds along with Foreign Military Sales, highlights AV’s ongoing commitment to delivering proven, battlefield-ready technology that meets the evolving needs of modern armed forces.

NVIDIA Corporation (NASDAQ: NVDA) recently announced that it has contributed foundational elements of its NVIDIA Blackwell accelerated computing platform design to the Open Compute Project (OCP) and broadened NVIDIA Spectrum-X™ support for OCP standards.

At this year’s OCP Global Summit, NVIDIA will be sharing key portions of the NVIDIA GB200 NVL72 system electro-mechanical design with the OCP community — including the rack architecture, compute and switch tray mechanicals, liquid-cooling and thermal environment specifications, and NVIDIA NVLink™ cable cartridge volumetrics — to support higher compute density and networking bandwidth.

NVIDIA has already made several official contributions to OCP across multiple hardware generations, including its NVIDIA HGX™ H100 baseboard design specification, to help provide the ecosystem with a wider choice of offerings from the world’s computer makers and expand the adoption of AI.

About FN Media Group:

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DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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SOURCE: FN Media Group

The MIL Network –

January 25, 2025

MIL-OSI: MINT Income Fund Distributions

Source: GlobeNewswire (MIL-OSI)

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) — MINT Income Fund (TSX: MID.UN) (the “Fund”) is pleased to announce that distributions for the fourth quarter of 2024 will be payable to unitholders of MINT Income Fund as follows:

*Record Date*	*Payable Date*	*Distribution Per Trust Unit*
October 31, 2024	November 15, 2024	$0.04
November 30, 2024	December13, 2024	$0.04
December 31, 2024	January 15, 2025	$0.04

The trust units trade on the Toronto Stock Exchange under the symbol MID.UN.

The Fund offers a distribution reinvestment plan (“DRIP”) for unitholders which provides unitholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Unitholders can enroll in the DRIP program by contacting their investment advisor.

Middlefield

Founded in 1979, Middlefield is a specialist equity income asset manager with offices in Toronto, Canada and London, England. Our investment team utilizes active management to select high-quality, global companies across a variety of sectors and themes. Our product offerings include proven dividend-focused strategies that span real estate, healthcare, innovation, infrastructure, energy, diversified income and more. We offer these solutions in a variety of product types including ETFs, Mutual Funds, Closed-End Funds, Split-Share Funds and Flow-through LPs.

For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning the distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund’s portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; the declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains. The risks, uncertainties and other factors that could influence actual results are described in the Fund’s prospectus and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund’s current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund’s estimate as of any date other than the date of this press release.

The MIL Network –

January 25, 2025

MIL-OSI Economics: The Managing Director’s Global Policy Agenda, Annual Meeting 2024: Secure A Soft Landing And Break From The Low Growth–High Debt Path

Source: International Monetary Fund

Summary

The global economy has proven resilient, and a soft landing is within reach. Inflation has moderated thanks to tight monetary policy and fading supply shocks, and growth is expected to remain steady. But uncertainty remains significant, with risks tilted to the downside; medium-term growth prospects are lackluster; public debt has reached record highs and is expected to approach 100 percent of GDP by 2030; and geoeconomic fragmentation threatens to undo decades of gains from cross-border economic integration. At the same time, transformative changes—the green transition, demographic shifts, and digitalization, including artificial intelligence—are poised to reshape the global economy, creating challenges but also opportunities. Against this background, the key policy priorities are to secure a soft landing and break from the low growth-high debt path, and address other medium-term challenges. Monetary policy should ensure inflation returns durably to the target, and fiscal policy needs to decisively pivot toward consolidation to rebuild buffers and safeguard debt sustainability. Growth-enhancing reforms are urgently needed to lift growth prospects by boosting investment, job creation, and productivity. Domestic policies must be complemented by multilateral efforts to support countries with debt vulnerabilities, protect gains from economic integration, accelerate climate action, and harness benefits of new technologies while mitigating the risks. As it has done since its founding 80 years ago, the IMF will continue to adapt to serve its members with tailored policy advice, financial lifelines when needed, and capacity development. The Fund will remain a strong advocate for multilateralism and economic integration as foundations on which to build a resilient and inclusive global economy.

Subject: Artificial intelligence, Balance of payments, Capital flows, Climate change, Credit, Debt sustainability, Digitalization, Environment, External debt, Fiscal policy, Inflation, Money, Poverty, Poverty reduction strategy, Prices, Revenue mobilization, Technology

Keywords: Republic of, Advanced Economies, Artificial intelligence, Artificial intelligence, Capital flows, Capital flows, Climate change, Climate change, Credit, Debt sustainability, Debt sustainability, Digitalization, Digitalization, Economic integration, Economic integration, Global, Growth, Inflation, Inflation, Integrated Policy Framework, Integrated Policy Framework, Moldova, Poverty reduction strategy, Poverty reduction strategy, Reforms, Revenue mobilization, Revenue mobilization, Senegal

MIL OSI Economics –

January 25, 2025

MIL-Evening Report: Want to build healthier cities? Make room for bird and tree diversity

Source: The Conversation (Au and NZ) – By Rachel Buxton, Assistant Professor, Department of Biology, Carleton University

More than five million Canadians — approximately one in eight of us — are living with a mood, anxiety or substance use disorder. The prevalence of mental disorders is on the rise, with a third of those with a disorder reporting unmet or partially met needs for mental health-care services.

The stresses of the city, where more than 70 per cent of Canadians now live, can increase the risk of poor mental health even further.

When most people think about caring for their mental health, they may think about getting more exercise, getting more sleep and making sure they’re eating healthy. Increasingly, research is showing that spending time in nature surrounded by plants and wildlife can also contribute to preventing and treating mental illness.

Our research focuses on the importance of birds and trees in urban neighbourhoods in promoting mental well-being. In our study, we combined more than a decade of health and ecological data across 36 Canadian cities and found a positive association between greater bird and tree diversity and self-rated mental health.

The well-being benefits of healthy ecosystems will probably not come as a great surprise to urban dwellers who relish days out in the park or hiking in a nearby nature reserve. Still, the findings of our study speak to the potential of a nature-based urbanism that promotes the health of its citizens.

Birds, trees and human connection

Across cultures and societies, people have strong connections with birds. The beauty of their bright song and colour have inspired art, music and poetry. Their contemporary cultural relevance has even earned them an affectionate, absurdist internet nickname: “birbs”.

There’s something magical about catching a glimpse of a bird and hearing birdsong. For many urbanites, birds are our daily connection to wildlife and a gateway to nature. In fact, even if we don’t realize it, humans and birds are intertwined. Birds provide us with many essential services — controlling insects, dispersing seeds and pollinating our crops.

People have similarly intimate connections with trees. The terms tree of life, family trees, even tree-hugger all demonstrate the central cultural importance trees have in many communities around the world. In cities, trees are a staple of efforts to bring beauty and tranquility.

When the Australian city of Melbourne gave urban trees email addresses for people to report problems, residents responded by writing thousands of love letters to their favourite trees. Forest bathing, a practice of being calm and quiet among trees, is a growing wellness trend.

Birds and trees as promoters of urban wellness

Contact with nature and greenspace have a suite of mental health benefits.

Natural spaces reduce stress and offer places for recreation and relaxation for urban dwellers, but natural diversity is key. A growing amount of research shows that the extent of these benefits may be related to the diversity of different natural features.

For example, in the United States, higher bird diversity is associated with lower hospitalizations for mood and anxiety disorders and longer life expectancy. In a European study, researchers found that bird diversity was as important for life satisfaction as income.

People’s connection to a greater diversity of birds and trees could be because we evolved to recognize that the presence of more species indicates a safer environment — one with more things to eat and more shelter. Biodiverse environments are also less work for the brain to interpret, allowing restoration of cognitive resources.

To explore the relationship between biodiversity and mental health in urban Canada, we brought together unique datasets. First, we collected bird data sourced from community scientists, where people logged their bird sightings on an app. We then compared this data with tree diversity data from national forest inventories.

Finally, we compared both of these data sets to a long-standing health survey that has interviewed approximately 65,000 Canadians each year for over two decades.

We found that living in a neighbourhood with higher than average bird diversity increased reporting of good mental health by about seven per cent. While living in a neighbourhood with higher than average tree diversity increased good mental health by about five per cent.

Importance of urban birds and trees

The results of our study, and those of others, show a connection between urban bird and tree diversity, healthy ecosystems and people’s mental well-being. This underscores the importance of urban biodiversity conservation as part of healthy living promotion.

Protecting wild areas in parks, planting pollinator gardens and reducing pesticide use could all be key strategies to protect urban wildlife and promote people’s well-being. Urban planners should take note.

We’re at a critical juncture: just as we are beginning to understand the well-being benefits of birds and trees, we’re losing species at a faster rate than ever before. It’s estimated that there are three billion fewer birds in North America compared to the 1970s and invasive pests will kill 1.4 million street trees over the next 30 years.

By promoting urban biodiversity, we can ensure a sustainable and healthy future for all species, including ourselves.

Rachel Buxton receives funding from Natural Sciences and Engineering Research Council of Canada, National Institutes of Health, and Environment and Climate Change Canada.

Emma J. Hudgins received funding from the Natural Sciences and Engineering Research Council of Canada and the Fonds de Recherche du Québec – Nature et Technologies for this work. She currently receives funding from Plant Health Australia.

Stephanie Prince Ware has received funding from the Canadian Institutes of Health Research.

– ref. Want to build healthier cities? Make room for bird and tree diversity – https://theconversation.com/want-to-build-healthier-cities-make-room-for-bird-and-tree-diversity-235379

MIL OSI Analysis – EveningReport.nz –

January 25, 2025

MIL-OSI Global: Want to build healthier cities? Make room for bird and tree diversity

Source: The Conversation – Canada – By Rachel Buxton, Assistant Professor, Department of Biology, Carleton University

More than five million Canadians — approximately one in eight of us — are living with a mood, anxiety or substance use disorder. The prevalence of mental disorders is on the rise, with a third of those with a disorder reporting unmet or partially met needs for mental health-care services.

The stresses of the city, where more than 70 per cent of Canadians now live, can increase the risk of poor mental health even further.

When most people think about caring for their mental health, they may think about getting more exercise, getting more sleep and making sure they’re eating healthy. Increasingly, research is showing that spending time in nature surrounded by plants and wildlife can also contribute to preventing and treating mental illness.

Our research focuses on the importance of birds and trees in urban neighbourhoods in promoting mental well-being. In our study, we combined more than a decade of health and ecological data across 36 Canadian cities and found a positive association between greater bird and tree diversity and self-rated mental health.

The well-being benefits of healthy ecosystems will probably not come as a great surprise to urban dwellers who relish days out in the park or hiking in a nearby nature reserve. Still, the findings of our study speak to the potential of a nature-based urbanism that promotes the health of its citizens.

Birds, trees and human connection

Across cultures and societies, people have strong connections with birds. The beauty of their bright song and colour have inspired art, music and poetry. Their contemporary cultural relevance has even earned them an affectionate, absurdist internet nickname: “birbs”.

There’s something magical about catching a glimpse of a bird and hearing birdsong. For many urbanites, birds are our daily connection to wildlife and a gateway to nature. In fact, even if we don’t realize it, humans and birds are intertwined. Birds provide us with many essential services — controlling insects, dispersing seeds and pollinating our crops.

People have similarly intimate connections with trees. The terms tree of life, family trees, even tree-hugger all demonstrate the central cultural importance trees have in many communities around the world. In cities, trees are a staple of efforts to bring beauty and tranquility.

When the Australian city of Melbourne gave urban trees email addresses for people to report problems, residents responded by writing thousands of love letters to their favourite trees. Forest bathing, a practice of being calm and quiet among trees, is a growing wellness trend.

Birds and trees as promoters of urban wellness

Contact with nature and greenspace have a suite of mental health benefits.

Natural spaces reduce stress and offer places for recreation and relaxation for urban dwellers, but natural diversity is key. A growing amount of research shows that the extent of these benefits may be related to the diversity of different natural features.

For example, in the United States, higher bird diversity is associated with lower hospitalizations for mood and anxiety disorders and longer life expectancy. In a European study, researchers found that bird diversity was as important for life satisfaction as income.

People’s connection to a greater diversity of birds and trees could be because we evolved to recognize that the presence of more species indicates a safer environment — one with more things to eat and more shelter. Biodiverse environments are also less work for the brain to interpret, allowing restoration of cognitive resources.

To explore the relationship between biodiversity and mental health in urban Canada, we brought together unique datasets. First, we collected bird data sourced from community scientists, where people logged their bird sightings on an app. We then compared this data with tree diversity data from national forest inventories.

Finally, we compared both of these data sets to a long-standing health survey that has interviewed approximately 65,000 Canadians each year for over two decades.

We found that living in a neighbourhood with higher than average bird diversity increased reporting of good mental health by about seven per cent. While living in a neighbourhood with higher than average tree diversity increased good mental health by about five per cent.

Importance of urban birds and trees

The results of our study, and those of others, show a connection between urban bird and tree diversity, healthy ecosystems and people’s mental well-being. This underscores the importance of urban biodiversity conservation as part of healthy living promotion.

Protecting wild areas in parks, planting pollinator gardens and reducing pesticide use could all be key strategies to protect urban wildlife and promote people’s well-being. Urban planners should take note.

We’re at a critical juncture: just as we are beginning to understand the well-being benefits of birds and trees, we’re losing species at a faster rate than ever before. It’s estimated that there are three billion fewer birds in North America compared to the 1970s and invasive pests will kill 1.4 million street trees over the next 30 years.

By promoting urban biodiversity, we can ensure a sustainable and healthy future for all species, including ourselves.

Rachel Buxton receives funding from Natural Sciences and Engineering Research Council of Canada, National Institutes of Health, and Environment and Climate Change Canada.

Emma J. Hudgins received funding from the Natural Sciences and Engineering Research Council of Canada and the Fonds de Recherche du Québec – Nature et Technologies for this work. She currently receives funding from Plant Health Australia.

Stephanie Prince Ware has received funding from the Canadian Institutes of Health Research.

– ref. Want to build healthier cities? Make room for bird and tree diversity – https://theconversation.com/want-to-build-healthier-cities-make-room-for-bird-and-tree-diversity-235379

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: Your politics can affect whether you click on sponsored search results, new research shows

Source: The Conversation – USA – By Alexander Davidson, Associate Professor of Marketing, Wayne State University

Good news for digital marketers. Boy Wirat/Getty Images

American businesses spend close to US$100 billion each year to secure top advertising spots in search engine results – even though it’s not exactly a secret that most online shoppers scroll right past them.

In fact, organic links – results that aren’t sponsored advertisements – can receive up to 10 times as many clicks as search ads, industry data shows.

I refer to this phenomenon as “search ad avoidance,” and it’s a big problem for the multibillion-dollar industry. But it turns out that not all groups are equally averse to clicking on sponsored search results.

According to my newly published peer-reviewed research, people with conservative political views are more likely to click on sponsored search results.

Republican-leaning brands such as Black Rifle Coffee Company might want to take note.

Conservatives are more likely to click search ads

To explore the relationship between politics and search engine behavior, I conducted several studies.

First, I examined data from more than 500,000 visitors to a nationwide retailer’s website. I analyzed the percentage of visitors from each U.S. state who arrived at the website by clicking a search ad versus an organic link. Then I looked at the share of each state’s residents who describe themselves as conservative.

I found that more conservative states were associated with more clicks for search ads over organic links. Specifically, a 10% increase in a state’s conservative identity was associated with a 6.4% increase in search ad clicks.

Given that, on average, conservatives are older and have higher incomes than liberals, I also looked at each state’s median age and per-capita personal income. Again, the data confirmed the relationship between conservatism and search ad clicks. Neither age nor income had any significant impact.

To better understand what was going on, I conducted additional studies where I could monitor people’s searches in a more controlled setting using online surveys.

I asked online participants to search for a product the same way they would using Google. Then, I brought them to a search results page and asked them to indicate how likely they would be to click on a search ad versus an organic link.

I also measured their political orientation in two different ways: through self-identification and attitudes toward political issues. Once again, I found that regardless of age or income, more conservative people were more likely to click on search ads.

Why the promotional is political

The decision to click on an ad – or not – might seem quite minor. But I believe ad avoidance is strongly rooted in people’s core beliefs and values.

While conservatives tend to trust and justify the role of marketplace systems, liberals are more skeptical. Within the marketplace of online information search, I argue that conservatives are likely to be more trusting of sponsored communications than liberals, who lean toward organic content.

The importance of values becomes clear in a final analysis I conducted. In this real-world experiment, I created search ads for a website built specifically for this research and found that conservatives were more likely to click ads in response to broad searches, such as “Buy headphones.” But for more specific, detailed searches – for example, “Buy headphones with microphone that reduces background noise” – there was no relationship between politics and clicks.

I suspect this is because broad searches are less cognitively demanding – in other words, they require less brainpower. This allows our core beliefs to influence our decisions. In fact, this is consistent with research on information processing that shows broad thinking leads to stronger political attitudes.

On the other hand, I argue that specific searches require us to pay close attention to the information we are processing, which disables our core beliefs from being the primary influence on our decisions.

Why advertisers should take note

These findings have obvious benefits for advertisers who want to better understand who’s most likely to click on search ads. This can help them generate campaign strategies that account for consumers’ political orientations, which I have shown to be a better predictor of click behavior than typical segmentation variables such as age or income.

Given that liberals are less likely to click search ads, it also suggests advertisers should be thinking about alternative ways to reach them. It’s possible that liberals could be persuaded to click search ads through a greater inclusion of trust symbols in advertising communications, such as star ratings or endorsements from credible influencers.

Alexander Davidson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Your politics can affect whether you click on sponsored search results, new research shows – https://theconversation.com/your-politics-can-affect-whether-you-click-on-sponsored-search-results-new-research-shows-239800

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: Colorado’s Amendment 80 wants to make school choice ‘a right’ when it already is – an expert in educational policy explains the disconnect

Source: The Conversation – USA – By Christopher Lubienski, Professor of Education Policy, Indiana University

In November, Colorado voters will decide whether the state’s constitution should be amended to specify a right to school choice.

But school choice is already guaranteed by state statute and federal courts. So why is this initiative being posed at all?

Even the initiative’s backers acknowledge that Colorado already has “one of the best school choice statutes in the nation.” Moreover, the ability for parents to choose private schools has been affirmed by the U.S. Supreme Court for at least a century.

I have been studying school choice for almost three decades and can say Amendment 80 raises serious questions about the strategies being used by the school choice advocates who put it on the ballot.

School choice in Colorado

School choice options have expanded rapidly across the U.S. in recent years. Currently, it is estimated that over 3.5 million students now attend charter schools, and in the past three years, nine states have approved new programs that provide public funds for private schooling.

In 1993, Colorado became one of the first states to authorize charter schools. Charter schools are publicly funded but privately or independently managed. They are now legal in 45 states.

Likewise, Colorado law enables parents to choose public schools outside their district — an open-enrollment option that is also quite common throughout the U.S., permitted in 43 states.

But a new wave of school choice policies is emerging from conservative legislatures. Several red states, like Utah, Iowa and Indiana, recently created policies to fund universal or near-universal private school choice. These programs – vouchers or education savings accounts – use taxpayer funds to pay for private school tuition and, with education savings accounts, other educational expenses as well. Unlike charter schools, which are technically public schools and accountable to public authorities, these programs funding private schools have few if any regulations on the schools receiving taxpayer dollars.

Colorado is in a different category altogether.

Indeed, Colorado voters have repeatedly rejected ballot measures to implement private school choice. That mirrors voters across the country, who tend to reject these intiatives, often resoundingly.

Moreover, Colorado’s original state constitution explicitly prohibits sending public funds to private schools.

In essence, Colorado is a trailblazer when it comes to funding school choice in the public sector – but not the private sector. Like all Americans, Coloradans have every right under federal law to choose a private school at their own expense.

Amendment 80 would give children the ‘right’ to choose from neighborhood, charter, private and home schools, as well as ‘future innovations in education.’
Ed Andrieski/AP Photo

Who supports Amendment 80

Amendment 80 reflects a familiar political divide when it comes to school choice policies.

Republicans largely support more parental prerogatives to choose schools, including private schools, and fewer restrictions on those schools.

Democrats tend to oppose unregulated choice and programs that fund private schools, and support accountability measures for schools that receive public funds.

There are, of course, exceptions to this partisan divide.

Some Democrats, including Colorado Gov. Jared Polis, who founded two charter schools, have objected to efforts to regulate charters.

Meanwhile, some conservatives, including Christian homeschoolers, have expressed concerns about government involvement in private schooling, which they fear could lead to regulation.

The proposal frames school choice as a child’s right, leading some to worry it will give a student’s wishes legal predominance over their parents’.

Those skeptics may have a point. Rather than push directly for school vouchers, backers of Amendment 80 simply make the seemingly innocuous assertion that school choice is a “right.”

School choice as a ‘right’

The fact that advocates for this measure are framing the issue this way – rather than as an effective taxpayer-funded policy, for example – is telling.

While there are different forms of school choice, like charter and magnet schools, the modern private school choice movement emerged as a way for Southern segregationists to avoid integration.

The movement gained momentum in the 1990s by asserting that choice leads to better educational outcomes, and that it gives low-income students an equitable opportunity to attend better schools.

Those claims have not stood up.

Every rigorous study of statewide voucher programs in the past 10 years has shown that they do not improve student outcomes. In fact, they have led to some of the largest learning losses ever measured — comparable to the losses from the COVID-19 pandemic.

Rather than simply giving low-income students opportunities beyond their segregated schools, charter schools lead to higher levels of segregation.

Additionally, statewide private school choice programs, such as what one might envision arising from Amendment 80, are budget-busters for state treasuries and for rural schools as they channel public funds away from high-need areas to affluent families using these programs.

In light of that track record, it is not surprising to see choice advocates move away from their earlier equity claims and focus instead on “rights” — even when such a right can lead to worse educational outcomes for kids.

But even if the rhetorical strategy around Amendment 80 is clear, the question still stands: Why push to enshrine rights that are already effectively available through both Colorado law and U.S. Supreme Court rulings?

The full text of Amendment 80 that appears on the November 2024 ballot in Colorado.
Colorado Secretary of State

Public funds for private schools

Michael Fields, the president of Advance Colorado, the organization that promoted the proposal, noted that the idea is to “preserve” and “protect families’ ability to choose the best educational options for themselves.”

Elsewhere, he said, “It’s really just cementing the school choice laws that we have in Colorado right now into the constitution.”

Essentially he is arguing that Amendment 80 would confirm the status quo in Colorado.

But the actual language of the initiative tells a different story.

Rather than simply affirming an existing right to choose a public, charter or homeschool, the more important issue here is the right to choose a private school.

Of course, this right already exists. Since at least 1925, parents across the U.S. have been guaranteed the right to choose private schools for their children, but at their own expense.

If Amendment 80 passes, I expect we will see the argument that such a right is meaningless without funding to support the choice of private schools. After all, when people talk about the right to public education or health care, the underlying assumption is that there is no cost barrier to exercising that right, which is funded by taxpayers.

Recent rulings by the U.S. Supreme Court suggest Colorado’s prohibition on the use of public funds for “church or sectarian” schools could be challenged in court. Adding a right to private school choice to the state’s constitution through Amendment 80 appears to be designed to provide the basis for such a challenge.

Early voting is happening now in Colorado. Find your polling place here.

Christopher Lubienski does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Colorado’s Amendment 80 wants to make school choice ‘a right’ when it already is – an expert in educational policy explains the disconnect – https://theconversation.com/colorados-amendment-80-wants-to-make-school-choice-a-right-when-it-already-is-an-expert-in-educational-policy-explains-the-disconnect-240896

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: Tiny airborne particles within air pollution could be a silent killer – new study uncovers hidden risks and reveals who’s most at risk in New York state

Source: The Conversation – USA – By Shao Lin, Professor of Public Health, University at Albany, State University of New York

Ultrafine particles stem from a variety of natural and human-made sources, including vehicle exhaust. Joe Raedle/Getty Images

Long-term high ultrafine particle concentrations in New York state neighborhoods are linked to higher numbers of deaths. That is the key finding of our new research, published in the Journal of Hazardous Materials.

Our study shows that high levels of ultrafine particles in the atmosphere over long periods of time are significantly associated with increased non-accidental deaths, particularly from cardiovascular and respiratory diseases.

Ultrafine particles are aerosols less than 0.1 micrometers, or 100 nanometers, in diameter — about one-thousandth the width of a human hair. Due to their tiny size, they can be easily inhaled into the distal branches of lungs, quickly absorbed into the bloodstream and even pass through organ barriers.

We also found that certain underserved populations, including Hispanics, non-Hispanic Black people, children under 5, older adults and non-New York City residents, are more susceptible to the adverse effects of ultrafine particles. The disparities our study uncovered underscore the necessity for public health agencies to focus on and protect high-risk populations.

We quantified the long-term health impacts of exposure to these pollutants by combining mortality data from vital records in New York state and using a model that tracks how particles move and change through the air.

Because ultrafine particles are so small, they are difficult to study, and more research is needed to determine how unsafe they are.

Why it matters

Air pollution is now ranked the second-leading risk factor for death, accounting for about 8.1 million deaths globally and about 600,000 deaths in the United States in 2021.

Most air pollution standards and regulations have been focused on larger particulate matter, such as PM2.5 – which includes organic compounds and metal particulates – and PM10, a category that includes dust, pollen and mold.

In comparison, ultrafine particles are typically much greater in number and have a much larger surface area-to-volume ratio, allowing them to carry substantial amounts of hazardous metals and organic compounds. Furthermore, because of their smaller size, ultrafine particles can follow the air flow and get deep into the lungs when inhaled. These unique characteristics make ultrafine particles particularly dangerous, leading to a range of adverse health problems.

Despite this understanding, ultrafine particles remain largely unregulated, while larger particulates are regulated under the National Ambient Air Quality Standards.

Due to their unique characteristics, ultrafine particles require additional, tailored attention.

Ultrafine particles, not shown, are about one-thousandth the width of a human hair.
U.S. Environmental Protection Agency

Ultrafine particles stem from both natural sources and human activity – primarily from combustion processes such as motor vehicles, power plants, wood burning and wildfires. A large share of ultrafine particles is created by chemical reactions in the atmosphere involving acidic gases from fossil fuel burning and ammonia from farming and residential wastes.

As cities continue to expand and urban populations grow, people’s exposure to these harmful particles is likely to increase. Both PM2.5 and ultrafine particles come from similar sources and can also form through chemical reactions in the atmosphere, but their trends diverge.

PM2.5 mass has been declining in many places, including New York, thanks to air quality regulations. However, recent research suggests that ultrafine particle numbers are not going down and have been increasing since 2017.

What still isn’t known

There are currently no large-scale monitoring sites in the U.S. dedicated to tracking ultrafine particles in the environment. This limits the ability of researchers like us to comprehend the extent of ultrafine particle exposure and its impact on public health.

What’s more, the exact biological mechanisms through which ultrafine particles cause harm are not yet fully understood. Increasing research evidence suggests that ultrafine particles can affect heart function, causing hardening of arteries, lung inflammation and systemic inflammation.

There have been few prior studies looking at death rates related to ultrafine particle exposure by demographics and seasonality. By understanding which groups are most vulnerable to ultrafine particle exposure, interventions can be more effectively tailored to lower the risks and protect those who are disproportionately affected. Our study, which is funded by the New York State Energy Research and Development Authority, helps fill in these critical knowledge gaps.

The Research Brief is a short take on interesting academic work.

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Tiny airborne particles within air pollution could be a silent killer – new study uncovers hidden risks and reveals who’s most at risk in New York state – https://theconversation.com/tiny-airborne-particles-within-air-pollution-could-be-a-silent-killer-new-study-uncovers-hidden-risks-and-reveals-whos-most-at-risk-in-new-york-state-236299

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: For many Latter-day Saints, America has a special relationship with God − but Christian nationalism is a step too far

Source: The Conversation – USA – By Nicholas Shrum, Doctoral Student in Religious Studies, University of Virginia

Patriotism and faith can weave together in complicated ways − but when does that count as ‘Christian nationalism’? RiverNorthPhotography/iStock via Getty Images Plus

On the verge of the 2024 elections, Donald Trump and Kamala Harris are ramping up their campaigns in Arizona and Nevada. Beyond being considered swing states, the two have something else in common: Latter-day Saint voters.

About 5% to 10% of Arizonans and Nevadans belong to the Church of Jesus Christ of Latter-day Saints – among the highest percentages in the country, outside of Utah and Idaho. For decades, a steep majority of Latter-day Saints, often called Mormons, were regarded as reliable Republican voters. But the Trump era has tested that alliance, especially when it comes to many of his backers’ support for Christian nationalism.

Christian nationalism is often described as the belief that American identity and Christianity are deeply intertwined and, therefore, the U.S. government should promote Christian-based values. Using questions such as whether “being Christian is an important part of being truly American,” a Public Religion Research Institute poll in 2024 found that about 4 in 10 Latter-day Saints nationwide are at least sympathetic to Christian nationalist ideas, if not clear “adherents.” This was the third-highest rate among religious groups, behind white evangelicals and Hispanic Protestants.

Yet the report also found a seeming contradiction. Utah, home to the church’s headquarters, “is the only red state in which support for Christian nationalism falls below the national average.”

As a scholar of Mormonism and nationalism, I believe the church’s history and beliefs help explain why so many members wrestle with Christian nationalist ideas – and that this complexity illustrates the difficulty of defining Christian nationalism in the first place. America is sacred in Latter-day Saint doctrine: both the land itself and its constitutional structures. But as a minority that has often faced discrimination from other Christians, the church displays profound skepticism about combining religion and state.

Sacred space

The Book of Mormon – one of the church’s key scriptures, alongside the Bible – describes the Americas as “choice above all other lands” and provides an account of Jesus Christ visiting ancient civilizations there after his resurrection.

In addition, Latter-day Saint doctrine considers the United States’ government to be divinely inspired. In 1833 the church’s founder, Joseph Smith, dictated a revelation wherein God declared “I established the Constitution of this land, by the hands of wise men whom I raised up for this very purpose.”

In the 1830s, Latter-day Saints migrated from New York and Ohio to western Missouri, where they believed themselves divinely commanded to build a sacred city called Zion. By the end of the decade, however, they had been forced out of Missouri by mob violence and an order from the governor, who called for the group to be “exterminated or driven from the State.”

Church members fled to neighboring Illinois, then began a long trek west after Smith’s death in 1844. The first pioneers reached Utah Territory in 1847, where they set up a society shaped by their beliefs – including, most famously, the practice of plural marriage. But when Utah applied for statehood, tensions with the federal government mounted.

Congress enacted anti-polygamy legislation that seized some church property, imprisoned more than 1,000 church members, disenfranchised anyone who supported the practice, and revoked Utah’s 1870 decision to give women the right to vote.

A photo of Utah polygamists in prison, taken around 1889 by Charles Roscoe Savage.
Harold B. Lee Library, Brigham Young University, via Wikimedia Commons

By 1896, church leaders had begun the process of ending plural marriage, and Utah was admitted to the union. Latter-day Saints also adopted the two-party system and embraced free-market capitalism, giving up their more insular and communal system – adapting to dominant ideas of what it meant to be properly American.

Constitutional patriots

These experiences tested Latter-day Saints’ faith in the U.S. government – particularly its failure to intervene as members were forced out of Missouri and Illinois. Nevertheless, church doctrine emphasizes duty to one’s country. One of the church’s 13 Articles of Faith explains that “we believe in being subject to kings, presidents, rulers, and magistrates, and in obeying, honoring, and sustaining the law.”

Latter-day Saints have “a unique responsibility to uphold and defend the United States Constitution and principles of constitutionalism,” as Dallin H. Oaks, a member of the church’s highest governing body, said in 2021.

I would argue that beliefs in the country’s divine purpose and potential, and the close relationship between faith and patriotism, may illuminate Latter-day Saint sympathy for Christian nationalist ideas. Yet the church’s previously fraught relations with the federal government, and with wider American culture, help explain why a majority of Latter-day Saints remain skeptical of Christian nationalism.

For much of the 19th and 20th centuries, hostility against the church was so high and widespread that if the U.S. had declared itself a Christian nation, Latter-day Saints would likely have been excluded – and around one-third of Americans still do not consider them “Christian.” According to a 2023 Pew survey, only 15% of Americans say they have a favorable impression of Latter-day Saints, while 25% report unfavorable views.

Latter-day Saint leaders believe they have a right to exert moral influence on public policy. But the church’s awareness of its own precarious position in U.S. culture has made it wary of policies that put some people’s religious freedom above others.

Church members wait for The Church of Jesus Christ of Latter-day Saints’ biannual general conference to begin on Oct. 5, 2024, in Salt Lake City, Utah.
AP Photo/Hannah Schoenbaum

A step too far

This wariness has also shaped Latter-day Saint culture’s inclination to avoid extremes. After decades of being marginalized for practices considered radical, the modern church and its adherents have walked a delicate tightrope. And for many, Christian nationalism and the candidate many adherents put their hope in – Donald Trump – seem a step too far.

Over the past half-century, Latter-day Saints tended to align politically and culturally with conservative Catholics and evangelicals. On balance, the church remains highly conservative on social issues, especially gender and sexuality, and 70% of its American members lean Republican. However, more younger Latter-day Saints have much more progressive views – and even the leadership has parted ways with the GOP on some issues, such as strict immigration proposals. While the church opposes “elective abortion,” it allows for several exceptions.

During the 2016 election, only about half of the church’s members voted for Trump; 15% voted for Evan McMullin, a Latter-day Saint who positioned himself as a moderate choice between Trump and Hillary Clinton. In 2020, Trump garnered about 7 in 10 Latter-day Saint votes.

During congressional hearings about the Jan. 6, 2021, attack on the U.S. Capitol, Arizona House Speaker Russell “Rusty” Bowers, who resisted pressure from the Trump administration to recall the state’s electors, cited his Latter-day Saint beliefs. “It is a tenet of my faith that the Constitution is divinely inspired,” Bowers said, explaining his refusal to go along with the scheme.

Arizona House Speaker Rusty Bowers, left, is sworn in before testimony at the Capitol on June 21, 2022, alongside Georgia Secretary of State Brad Raffensperger and Georgia Deputy Secretary of State Gabriel Sterling.
AP Photo/J. Scott Applewhite

In June 2023, church leaders issued a statement against straight-ticket voting, saying “voting based on ‘tradition’ without careful study of candidates and their positions on important issues is a threat to democracy.”

Holy purpose

Ever since the Puritans, many people in what became the United States have believed God has a special plan for their society – part of the same current that drives Christian nationalism today.

Latter-day Saints, however, have a specific vision of that plan. According to the church’s teachings and scriptures, the country’s establishment was a necessary step toward restoring the “only true and living church” – their own. And that church is a global one, not just American. More than half of all Latter-day Saints today live outside the U.S.

Ultimately, Latter-day Saint teachings consider America’s story part of a greater goal: ushering in the second coming of Jesus Christ. As the church’s name suggests, Latter-day Saints believe that they are living in the last days, just before the millennial reign of Jesus – a kingdom where national and political distinctions melt away.

But as with all other churches, its members live in the current day, where political, cultural and social realities shape how they interact with the world around them – and how they vote.

Nicholas Shrum does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. For many Latter-day Saints, America has a special relationship with God − but Christian nationalism is a step too far – https://theconversation.com/for-many-latter-day-saints-america-has-a-special-relationship-with-god-but-christian-nationalism-is-a-step-too-far-228594

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: Proof that immigrants fuel the US economy is found in the billions they send back home

Source: The Conversation – USA – By Ernesto Castañeda, Professor, American University

Migrant workers pick strawberries during harvest south of San Francisco, Calif. Visions of America/Joe Sohm/Universal Images Group via Getty Images

Donald Trump has vowed to deport millions of immigrants if he is elected to a second term, claiming that, among other things, foreign-born workers take jobs from others. His running mate JD Vance has echoed those anti-immigrant views.

Researchers, however, generally agree that massive deportations would hurt the U.S. economy, perhaps even triggering a recession.

Social scientists and analysts tend to concur that immigration — both documented and undocumented — spurs economic growth. But it is almost impossible to calculate directly how much immigrants contribute to the economy. That’s because we don’t know the earnings of every immigrant worker in the United States.

We do, however, have a good idea of how much they send back to their home countries – more than US$81 billion in 2022, according to the World Bank. And we can use this figure to indirectly calculate the total economic value of immigrant labor in the U.S.

Economic contributions are likely underestimated

I conducted a study with researchers at the Center for Latin American and Latino Studies and the Immigration Lab at American University to quantify how much immigrants contribute to the U.S. economy based on their remittances, or money sent back home.

Several studies indicate that remittances constitute 17.5% of immigrants’ income.

Given that, we estimate that the immigrants who remitted in 2022 had take-home wages of over $466 billion. Assuming their take-home wages are around 21% of the economic value of what they produce for the businesses they work for – like workers in similar entry-level jobs in restaurants and construction – then immigrants added a total of $2.2 trillion to the U.S. economy yearly.

That is about 8% of the gross domestic product of the United States and close to the entire GDP of Canada in 2022 – the world’s ninth-largest economy.

Immigration strengthens the US

Beyond its sheer value, this figure tells us something important about immigrant labor: The main beneficiaries of immigrant labor are the U.S. economy and society.

The $81 billion that immigrants sent home in 2022 is a tiny fraction of their total economic value of $2.2 trillion. The vast majority of immigrant wages and productivity – 96% – stayed in the United States.

Remittances from the U.S. represent a substantial income source for the people who receive them. But they do not represent a siphoning of U.S. dollars, as Trump has implied when he called remittances “welfare” for people in other countries and suggested taxing them to pay for the construction of a border wall.

The economic contributions of U.S. immigrants are likely to be even more substantial than what we calculate.

For one thing, the World Bank’s estimate of immigrant remittances is probably an undercount, since many immigrants send money abroad with people traveling to their home countries.

In prior research, my colleagues and I have also found that some groups of immigrants are less likely to remit than others.

One is white-collar professionals – immigrants with careers in banking, science, technology and education, for example. Unlike many undocumented immigrants, white-collar professionals typically have visas that allow them to bring their families with them, so they do not need to send money abroad to cover their household expenses back home.

Immigrants who have been working in the country for decades and have more family in the country also tend to send remittances less often.

Both of these groups have higher earnings, and their specialized contributions are not included in our $2.2 trillion estimate.

A Somali business owner stocks her store in Lewiston, Maine.
Tom Williams/CQ Roll Call

Additionally, our estimates do not account for the economic growth stimulated by immigrants when they spend money in the U.S., creating demand, generating jobs and starting businesses that hire immigrants and locals.

For example, we calculate the contributions of Salvadoran immigrants and their children alone added roughly $223 billion to the U.S. economy in 2023. That’s about 1% of the country’s entire GDP.

Considering that the U.S. economy grew by about 2% in 2022 and 2023, that’s a substantial sum.

These figures are a reminder that the financial success of the U.S. relies on immigrants and their labor.

Ernesto Castañeda does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Proof that immigrants fuel the US economy is found in the billions they send back home – https://theconversation.com/proof-that-immigrants-fuel-the-us-economy-is-found-in-the-billions-they-send-back-home-227542

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: Is America ready for a woman president? Voters’ attitudes to women politicians are radically different from a decade ago

Source: The Conversation – USA – By Angela L. Bos, Dean and Professor, School of Public Service, Boise State University, Boise State University

Voters hold clear and positive stereotypes of women politicians − while they don’t think as positively about men in politics. Artis777/iStock/Getty Images

If U.S. voters elect Kamala Harris – a Black, Asian American woman – president, it would be historic on multiple levels. This is now a real possibility due to voters’ positively evolving stereotypes of women politicians.

Stereotypes have long hindered female candidates, casting them as emotional, weak and sensitive. But now our political science research shows that voters in the U.S. increasingly see women leaders as synonymous with political leadership – and as more effective than men politicians.

This transformation reflects a broader change in what voters expect in political leaders. They are now more likely to see a woman candidate as a better “fit” for public office. This might help pave the way for Harris to break through the highest glass ceiling in U.S. politics.

The classic double bind

Gender stereotypes are the assumptions and expectations people have about men and women. They traditionally present an obstacle for women leaders, including in politics.

Among the many barriers to a woman becoming president in the U.S. are voters’ gender stereotypes. Men are generally assumed to have masculine traits such as being ambitious and competitive, while women are assumed to possess feminine traits such as being warm and compassionate. In applying gender stereotypes to politicians, voters end up with very different expectations for men and women candidates.

Democratic candidate Kamala Harris, left, campaigns with former GOP congresswoman and supporter Liz Cheney in Malvern, Pa., on Oct. 21, 2024.
Melina Mara/The Washington Post via Getty Images

This presents a classic double bind for women leaders. If they behave like leaders and act dominantly and assertively, they violate expectations of femininity. But if they behave in a stereotypical way, they are not seen as strong leaders.

The double bind extends to politics. It was long the case that stereotypes of men politicians, but not women politicians, aligned with the leadership qualities that voters desire in political leaders. These traits include competence, strong leadership, empathy and integrity. A 2011 study showed that stereotypes of women politicians lacked clarity, meaning people had no clear expectations. Voters also did not see women politicians in alignment with those same four leadership qualities that voters seek.

But by 2021, prominent women political leaders such as Hillary Clinton, Nikki Haley and Nancy Pelosi had reshaped the landscape for women seeking office by shaping and solidifying public expectations.

More women politicians in the spotlight

More women have assumed political leadership roles in the U.S. over the past decade than in previous decades. The number of women in Congress increased from 90 to 145 between the 111th Congress, which met from 2009 to 2011, to the 117th Congress, which met from 2021 to 2023.

In addition, high-profile women politicians such as Democrats Pelosi and Clinton, as well as Liz Cheney, a Republican, have received considerable attention from both the media and the electorate. Gender stereotypes about women politicians evolved from being ambiguous to becoming both well defined and positive as voters grew more familiar with them. This has created a political landscape for Harris today that is notably different from the early 2010s.

We are political scientists whose research examines how gender stereotypes affect women’s political underrepresentation. In 2021, we conducted a study of how voters’ gender stereotypes of politicians had evolved over the previous decade. These are the three main lessons:

1. Stereotypes of women politicians are increasingly positive

A decade ago, people did not agree on the traits that defined women politicians. While some people described them as tough, others thought they were weak. Similarly, some reported them as rational, while others saw them as unable to separate feelings from ideas. There were no traits that large groups of people agreed upon to describe women politicians.

But our study shows that voters now hold clear and positive stereotypes of them.

When asked about the traits they associate with women politicians, respondents listed positive traits such as intelligent, rational, analytical, ambitious and moral. At the same time, women politicians are least associated with negative traits such as being weak and spineless.

While stereotypes of women politicians have become more positive, stereotypes of male politicians are now much more negative.
Image Source/Getty Images

2. Stereotypes of men politicians have shifted to increased negativity and distrust

Male politicians were previously seen as confident, well educated, charismatic and driven. But there’s bad news for men in politics: This perception has shifted. Our study revealed that stereotypes of male politicians became much more negative over the decade we studied.

Today, male politicians are more commonly viewed as power-hungry, selfish, manipulative and self-interested. They are least associated with traits such as being sympathetic or caring about “people like me.” This indicates that voters have become more negative and distrustful toward male politicians.

3. Women politicians have gained ground on leadership perceptions, surpassing men politicians

In the past, stereotypes of women politicians were incompatible with leadership stereotypes. But our study shows that this mismatch has subsided. In fact, between 2011 and 2021, scores for women politicians increased on all four leadership traits valued by voters: competence, leadership, empathy and integrity.

Men politicians, in contrast, have lost ground on all four leadership traits. Women politicians now surpass men politicians in three out of the four leadership traits: competence, empathy and integrity. Expectations of men politicians concerning the fourth trait, strong leadership, are now equal to those of female politicians.

Kamala Harris may benefit

Gender stereotypes have long hindered women seeking political office, but more women in prominent leadership positions have fostered positive stereotype change.

Granted, highly visible women leaders such as Pelosi and Clinton excite both admiration and intense dislike. But seeing them and many other examples in their wake has familiarized voters with women holding power in politics. Voters are thus now more likely to view women candidates like Harris as fitting into leadership roles such as the presidency.

With growing distrust in politics, and of male politicians specifically, women political leaders – who are viewed as agents of change – may have an opportunity to restore trust in politics.

Daphne Joanna van der Pas receives funding from the Dutch Research Council.

Loes Aaldering receives funding from the Dutch Research Council. She is a member of Groenlinks, the Green party in the Netherlands.

Angela L. Bos does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Is America ready for a woman president? Voters’ attitudes to women politicians are radically different from a decade ago – https://theconversation.com/is-america-ready-for-a-woman-president-voters-attitudes-to-women-politicians-are-radically-different-from-a-decade-ago-240326

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Global: Your next favorite story won’t be written by AI – but it could be someday

Source: The Conversation – USA – By Haoran Chu, Assistant Professor of Communications, University of Florida

AI language models are getting pretty good at writing – but not so much at creative storytelling. Moor Studio/DigitalVision Vectors via Getty Images

Stories define people – they shape our relationships, cultures and societies. Unlike other skills replaced by technology, storytelling has remained uniquely human, setting people apart from machines. But now, even storytelling is being challenged. Artificial intelligence, powered by vast datasets, can generate stories that sometimes rival, or even surpass, those written by humans.

Creative professionals have been among the first to feel the threat of AI. Last year, Hollywood screenwriters protested, demanding – and winning – protections against AI replacing their jobs. As university professors, we’ve seen student work that seems suspiciously AI-generated, which can be frustrating.

Beyond the threat to livelihoods, AI’s ability to craft compelling, humanlike stories also poses a societal risk: the spread of misinformation. Fake news, which once required significant effort, can now be produced with ease. This is especially concerning because decades of research have shown that people are often more influenced by stories than by explicit arguments and entreaties.

We set out to study how well AI-written stories stack up against those by human storytellers. We found that AI storytelling is impressive, but professional writers needn’t worry – at least not yet.

The power of stories

How do stories influence people? Their power often lies in transportation – the feeling of being transported to and fully immersed in an imagined world. You’ve likely experienced this while losing yourself in the wizarding world of Harry Potter or 19th-century English society in “Pride and Prejudice.” This kind of immersion lets you experience new places and understand others’ perspectives, often influencing how you view your own life afterward.

When you’re transported by a story, you not only learn by observing, but your skepticism is also suspended. You’re so engrossed in the storyline that you let your guard down, allowing the story to influence you without triggering skepticism in it or the feeling of being manipulated.

Given the power of stories, can AI tell a good one? This question matters not only to those in creative industries but to everyone. A good story can change lives, as evidenced by mythical and nationalist narratives that have influenced wars and peace.

Storytelling can be powerfully influential – especially if people sense the human behind the words.
georgeclerk/E+ via Getty Images

Studying whether AI can tell compelling stories also helps researchers like us understand what makes narratives effective. Unlike human writers, AI provides a controlled way to experiment with storytelling techniques.

Head-to-head results

In our experiments, we explored whether AI could tell compelling stories. We used descriptions from published studies to prompt ChatGPT to generate three narratives, then asked over 2,000 participants to read and rate their engagement with these stories. We labeled half as AI-written and half as human-written.

Our results were mixed. In three experiments, participants found human-written stories to be generally more “transporting” than AI-generated ones, regardless of how the source was labeled. However, they were not more likely to raise questions about AI-generated stories. In multiple cases, they even challenged them less than human-written ones. The one clear finding was that labeling a story as AI-written made it less appealing to participants and led to more skepticism, no matter the actual author.

Why is this the case? Linguistic analysis of the stories showed that AI-generated stories tended to have longer paragraphs and sentences, while human writers showed more stylistic diversity. AI writes coherently, with strong links between sentences and ideas, but human writers vary more, creating a richer experience. This also points to the possibility that prompting AI models to write in more diverse tones and styles may improve their storytelling.

These findings provide an early look at AI’s potential for storytelling. We also looked at research in storytelling, psychology and philosophy to understand what makes a good story.

We believe four things make stories engaging: good writing, believability, creativity and lived experience. AI is great at writing fluently and making stories believable. But creativity and real-life experiences are where AI falls short. Creativity means coming up with new ideas, while AI is designed to predict the most likely outcome. And although AI can sound human, it lacks the real-life experiences that often make stories truly compelling.

Closing in?

It’s too early to come to a definitive conclusion about whether AI can eventually be used for high-quality storytelling. AI is good at writing fluently and coherently, and its creativity may rival that of average writers. However, AI’s strength lies in predictability. Its algorithms are designed to generate the most likely outcome based on data, which can make its stories appealing in a familiar way. This is similar to the concept of beauty in averageness, the documented preference people have for composite images that represent the average face of a population. This predictability, though limiting true creativity, can still resonate with audiences.

For now, screenwriters and novelists aren’t at risk of losing their jobs. AI can tell stories, but they aren’t quite on par with the best human storytellers. Still, as AI continues to evolve, we may see more compelling stories generated by machines, which could pose serious challenges, especially when they’re used to spread misinformation.

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Your next favorite story won’t be written by AI – but it could be someday – https://theconversation.com/your-next-favorite-story-wont-be-written-by-ai-but-it-could-be-someday-239284

MIL OSI – Global Reports –

January 25, 2025

MIL-OSI Video: European Commission President Ursula von der LEYEN Western Balkans tour (Bosnia and Herzegovina)

Source: European Commission (video statements)

Press Conference with HE Borjana Krišto, Chairwoman of the Council of Ministers Bosnia and Herzegovina

Watch on the Audiovisual Portal of the European Commission:
Follow us on:
-X: https://twitter.com/EU_Commission
-Instagram: https://www.instagram.com/europeancommission/
-Facebook: https://www.facebook.com/EuropeanCommission
-LinkedIn: https://www.linkedin.com/company/european-commission/
-Medium: https://medium.com/@EuropeanCommission

Check our website: http://ec.europa.eu/

https://www.youtube.com/watch?v=3pb67gxViAU

MIL OSI Video –

January 25, 2025

MIL-OSI Europe: EU anti-fraud office coordinates seizure of around 40,000 litres of illicit alcohol

Source: European Union 2

The European Anti-Fraud Office coordinated an action that led the EU Member States’ and Norwegian customs authorities to seize around 40,000 litres of illicit alcoholic beverages. The targeted action is part of operation OPSON XIII, the global initiative coordinated alongside Europol to tackle food fraud and ensure the safety of food and beverages across Europe.

The operation, which ran from December 2023 to May 2024, focused on identifying and removing counterfeit and substandard food and drinks from markets while disturbing the criminal network behind these illicit products.

As in previous years, OLAF led a targeted action focused specifically on illicit alcoholic beverages. The operation revealed sophisticated schemes aimed at infiltrating the EU market with products of inferior quality – mostly beer, homemade alcohol and wine. Fraudsters used deceptive packaging, falsified documents and false labels to sell these products to consumers.

The OLAF coordinated action involved customs authorities from 15 Member States and one non-EU country: Austria, Belgium, Bulgaria, Croatia, Denmark, France, Germany, Greece, Ireland, Italy, Lithuania, Norway, Poland, Portugal, Spain and Slovakia.

More information on Operation OPSON XIII is available in Europol’s press release.

MIL OSI Europe News –

January 25, 2025

MIL-OSI Europe: Corruption risk assessment in focus of OSCE seminar in Turkmenistan

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: Corruption risk assessment in focus of OSCE seminar in Turkmenistan

Participants during an OSCE-organized seminar on interagency co-operation and co-ordination in corruption risk assessment, Ashgabat, 23 October 2024, OSCE (OSCE) Photo details

Interagency co-operation and co-ordination in corruption risk assessment and implementation of the United Nations Convention Against Corruption’s (UNCAC) were addressed at an OSCE-organized seminar that took place in Ashgabat on 23 and 24 October 2024.
The seminar presented best practices of OSCE participating States in strengthening inter-agency co-operation in preventing and combating corruption.
An international expert from Moldova provided the participants with a comprehensive overview of the principles and requirements of the United Nations Convention against Corruption and of the process of self-assessment of the implementation of the Convention.
“Corruption, as a key threat to good governance, democratic processes and fair business practices, also poses a major impediment to progress in trade and connectivity,” said Olivera Zurovac-Kuzman, Economic and Environmental Officer of the OSCE Centre in Ashgabat.
“The OSCE Centrе in Ashgabat is actively collaborating with the Government of Turkmenistan on anti-corruption and related issues and stands ready to support efforts to improve public administration, promote transparency and accountability, and foster inter-agency co-operation and co-ordination in preventing and combating corruption,” stressed Zurovac-Kuzman.
Participants shared their views on how to enhance inter-agency co-operation and co-ordination of actions on key areas of the UN Convention against Corruption and examined parallel financial investigations as a tool to counteract and fight corruption. Special attention was paid to identification, tracing and seizure of criminal assets, pre-seizure planning and management of seized and confiscated assets.
The two-day event brought together representatives of Ministry of Finance and Economy Turkmenistan, Ministry of Adalat (Justice), State Customs Service, Central Bank, and Mejlis (Parliament), as well as the Union of Industrialists and Entrepreneurs and other relevant institutions.

MIL OSI Europe News –

January 25, 2025

MIL-OSI United Kingdom: CMA response to the Welsh Government consultation on inspection ratings for care home services and domiciliary support services

Source: United Kingdom – Executive Government & Departments

The CMA has published its response to the Welsh Government consultation on inspection ratings for care home services and domiciliary support services.

Applies to Wales

Documents

CMA response to the Welsh Government consultation on inspection ratings for care home services and domiciliary support services

PDF, 117 KB, 4 pages

Details

The Competition and Markets Authority (CMA) has responded to the Inspection ratings for care homes and domiciliary support services consultation, led by the Welsh Government.

The CMA’s response draws on some if its findings and recommendations in the care homes market study final report (2017), highlighting evidence from the study’s consumer research and its findings on inspection reports. We also draw on the report’s recommendations on supported decision making, helping people consider their care needs earlier, and protecting residents and their consumer rights.

For queries relating to the CMA’s response, please contact the CMA Wales team by email at wales@cma.gov.uk.

Published 24 October 2024

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI Russia: We suggest you write the All-Russian sociological dictation

Translation. Region: Russian Federation –

Source: State University of Management – Official website of the State –

On November 14, 2024, the All-Russian Public Opinion Research Center will hold the All-Russian educational campaign “Sociological Dictation” for the fifth time. We invite students and employees of the State University of Management to take part in this event.

Every year, thousands of people of different ages from all regions of Russia write the sociological dictation. Last year, more than 120 thousand people took part in the event.

The dictation consists of 25 questions of varying difficulty, it takes no more than 30 minutes to complete, and upon completion of the dictation, each participant is given a personalized certificate with the number of points scored. Participants who score 80 out of 100 possible points will receive a certificate with distinction.

You can write the dictation online on its official website on November 14 from 00:00 to 23:59 Moscow time.

Or in person at the State University of Management, in room PA-215. Starts at 14:00.

Subscribe to the tg channel “Our State University” Announcement date: 10/24/2024

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.

MIL OSI Russia News –

January 25, 2025

MIL-OSI Canada: Investing in the big impact of small business

Source: Government of Canada News

Federal support will help four Nova Scotia companies boost productivity and reach new markets

October 24, 2024 · Dartmouth, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)

From October 20^th to 26^th during Small Business Week, Canadians across the country are celebrating the crucial role that local companies play in strengthening our communities and economies. Small- and medium-sized businesses are powerful engines for Canada’s economy, employing 64% of Canadian workers. The Government of Canada is investing to help position four Nova Scotia companies for growth and success.

Accelerating Nova Scotia companies with diverse offerings, common goals

Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, announced repayable contributions totalling $1,486,305 for four companies looking to accelerate their growth and reach new markets.

A $721,305 contribution to Outdoor Fit Exercise Systems will enable the company to install cutting-edge powder paint coating equipment at its Dartmouth production facility. The upgrade will streamline operations, more than double the production capacity of its outdoor fitness equipment parts, and pave the way for a new business venture called Versa Coatings, a powder coating division serving businesses across Atlantic Canada.

A $315,000 contribution to Tony’s Meats Ltd. will help it add manufacturing and shipping equipment to produce more value-added products, more efficiently. The new lineup of tools at its Antigonish site includes a smokehouse that will reduce overall electrical consumption and new technologies that will grow its product lineup to appeal to new clients.

A $300,000 contribution to Sydney’s Ethical Swag Inc., Cape Breton’s only Certified B Corporation, will help it launch sales and marketing activities for its sustainable promotional products. Digital marketing, customer support improvements, and a build-out of its technology platform will help it reach new markets, empowering companies across Canada and the United States to choose eco-friendly advertising solutions.

A $150,000 contribution to Ravens Rest Retreat Limited in Moose Brook will add a new multipurpose cottage with accessible washrooms and a kitchen, as well as a health and wellness area with a gazebo, hot and cold tubs, and a sauna. The additions will support new activities like yoga retreats and Indigenous cuisine and storytelling, encouraging longer stays and attracting guests during the colder months.

Today’s announcement demonstrates the Government of Canada’s commitment to helping small businesses diversify, compete, and grow, creating jobs and boosting the economy.

MIL OSI Canada News –

January 25, 2025

MIL-OSI Canada: Lockdown at Grand Valley Institution

Source: Government of Canada News

On October 19, 2024, a lockdown was put in place at Grand Valley Institution, a multi-level security federal institution, to ensure the safety and security of the institution, its staff, and inmates.

October 24, 2024 – Kitchener, Ontario – Correctional Service Canada

On October 19, 2024, a lockdown was put in place at Grand Valley Institution, a multi-level security federal institution, to ensure the safety and security of the institution, its staff, and inmates.

Visits have been suspended until the lockdown is ended. Normal operations will resume as soon as it is considered safe to do so.

Mike Shrider
Regional Communications Manager
Regional Headquarters
GEN-ONT-MEDIA@csc-scc.gc.ca
613-530-6941

MIL OSI Canada News –

January 25, 2025

MIL-OSI Canada: Statement by the Prime Minister on United Nations Day

Source: Government of Canada – Prime Minister

The Prime Minister, Justin Trudeau, today issued the following statement on United Nations Day:

“For nearly 80 years, the United Nations (UN) has brought the international community together to make progress on global challenges. Protecting human rights. Fighting climate change. Strengthening democracy, peace, and security. Reinforcing international law.

“As a founding member, Canada is doing its part to make this progress possible. Last month, at the UN General Assembly, we announced $200 million in measures to make the world better, fairer, and more secure. Our investments will protect the sexual and reproductive health and rights of women and girls, strengthen action on gender equality, fight climate change, and support efforts to restore peace and security in Haiti.

“We also adopted the Pact for the Future, so we can find shared solutions to shared challenges, alongside partners. As Co-Chair of the UN Sustainable Development Goals (SDG) Advocates group and SDG Stimulus Leaders group, I continue to highlight Canada’s commitment to advancing the SDGs. With the Vancouver Principles, we are leading efforts to end the recruitment of child soldiers. And with the Elsie Initiative, we are increasing the participation of women in peace operations.

“The UN’s mission would not be possible without its humanitarian workers, officers, and peacekeepers. It is critical we ensure their safety and protect their ability to deliver life-saving assistance. When we work together, we can make life better. This is what the UN is about. I invite Canadians to learn more about this important work.”

MIL OSI Canada News –

January 25, 2025

MIL-OSI Video: European Commission President Ursula von der LEYEN Western Balkans tour (Serbia)

Source: European Commission (video statements)

Press conference with HE Aleksandar Vučić, President of the Republic of Serbia

Watch on the Audiovisual Portal of the European Commission:
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Check our website: http://ec.europa.eu/

https://www.youtube.com/watch?v=Tjj3a8mPfko

MIL OSI Video –

January 25, 2025

MIL-OSI Europe: Audience with the Community of the College of Vatican Penitentiaries

Source: The Holy See

This morning, in the Vatican Apostolic Palace, the Holy Father Francis received in audience the Community of Vatican Penitentiaries on the occasion of the 250th anniversary of the entrustment of the Ministry of Confessions in Saint Peter’s Basilica to the Friars Minor Conventual.
The following is the address delivered by the Pope to those present at the audience:

Address of the Holy Father
Dear brothers and sisters, Your Eminence, good morning!
I greet Fr. Vincenzo Cosatti and all of you. I am happy to meet you on the occasion of the 250th anniversary of the entrustment to the Friars Minor Conventual of the ministry of Confessions in Saint Peter’s Basilica (cf. Clement XIV, Motu proprio Miserator Dominus, 10 August 1774). Clement XIV did this, perhaps one of the good things he did. But, poor man, the other things he did were inspired by that friar of yours, Bontempi, whom I believe is still in hell [laughter], but I am not sure. When Clement XVI died, Bontempi sought refuge in the Spanish Embassy, because he was afraid. After a few months had passed, when there was peace, he went to the General and said: “Father General, I am bringing three Bulls here. [In exchange I ask] first, that I may have money – a Franciscan! -; second, that I may live outside the community; and third, that I may travel where I please”. And the General, a wise Conventual, took the Bulls: “But, dear man, one is missing”. “Which one, Father?”. “The one that will guarantee the salvation of your soul!”. This is historic, because he had deceived Pope Ganganelli with all these things. Bontempi was wily!
Every day Saint Peter’s Basilica is visited by more than forty thousand people, every day! Many come from far away and face journeys, expenses and long queues to be able to arrive; others come for tourism, the majority. But among them, very many come to pray at the tomb of the First of the Apostles, to confirm their faith and their communion with the Church, to entrust dear intentions to the Lord, or to take vows. Others, even of different faiths, enter it as “tourists”, attracted by the beauty, the history, the charm of the art. But in everyone there is one great quest, conscious or unconscious: the quest for God, Beauty and eternal Goodness, whose desire lives and pulsates in every heart of man and woman living in this world. The desire for God.
And your presence in this context is important. For the faithful and pilgrims, because it enables them to encounter the Lord of mercy in the Sacrament of Reconciliation. Dear friends, forgive everything, everything, everything. Do it always: forgive everything! We are here to forgive, there will be someone else to quarrel! And for all the others, because it bears witness before them that the Church welcomes them first of all as a community of the saved, forgiven, who believe, hope and love in the light and with the strength of God’s tenderness. Let us therefore pause a moment to reflect on the ministry you carry out, emphasizing three particular aspects: humility, listening and mercy.
First: humility. This is taught to us by the Apostle Peter, the forgiven disciples, who goes so far as to shed his blood in martyrdom only after having wept humbly for his own sins (Lk 22:56-62). He reminds us that every Apostle – and every Penitentiary – bears the treasure of grace that is dispensed in an earthen vessel, “to show that the transcendent power belongs to God and not to us” (2 Cor 4:7). Therefore, dear brothers, to be good confessors, let us be the first to “allow ourselves to be penitents in search of his mercy” (Bull Misericordiae Vultus, 17), diffusing beneath the imposing vaults of the Vatican Basilica the perfume of a humble prayer, that implores and begs for mercy.
Second, listening, for everyone and especially for the young and the small. It is the witness of Peter the shepherd, who walks among his flock and who grows in listening to the Spirit through the voice of his brethren (Acts, 10:34-48). Indeed, listening is not merely hearing what people say, but first of all welcoming their words as a gift of God for their conversion, docilely, like clay in the potter’s hands (cf. Is 64:7). It will be good for us, in this regard, never to forget that “By truly listening to a brother or sister in the sacramental dialogue, we listen to Jesus himself, poor and humble … we become hearers of the Word” (Address to participants in the Course on the Internal Forum organized by the Apostolic Penitentiary, 9 March 2018), and that only in this way can we hope to offer them the greatest service: that of putting them “in contact with Jesus” (ivi). Listen, without asking too many questions; do not be a psychiatrist, please: listen, always listen, meekly. And when you see that a penitent starts to get into difficulty, because he or she is ashamed, say “I understand”; I haven’t understood anything, but I understand; God understands and that is the important thing. This was taught to me by a great Cardinal penitentiary: “I understand”, the Lord has understood. But please do not be a psychiatrist: the less you speak, the better. Listen, console and forgive. You are there to forgive!
Finally, the third: mercy. As dispensers of God’s forgiveness, it is important to be “men of mercy”, cheerful men, generous, ready to understand and to console, in words and in attitudes. Here too Peter is an example to us, with his discourses full of forgiveness (cf. Acts, 3:12-20). The confessor – an earthen vessel, as we have said – has a sole medicine to pour on the wounds of his brethren: God’s mercy. These three aspects of God: closeness, mercy and compassion. The confessor must be close, merciful and compassionate. When a confessor starts to ask… no, you are acting like a psychiatrist, stop, please. This was taught by Saint Leopold Mandić, who liked to repeat: “Why should we humiliate the most the souls who come to prostrate themselves at our feet? Are they not already humiliated enough? Did Jesus perhaps humiliate the publican, the adulteress, the Magdalene?” and he added, “And if the Lord were to reproach me for being too lenient, I would be able to say, ‘Blessed Father, you set a bad example to me, dying on the cross for our souls, moved by your divine charity” (cf. Lorenzo da Fara, Leopold Mandić. L’umanità la santità, Velar, 1989). May the Lord give us the grace to be able to repeat the same words!
Several times I have told the story of that Capuchin who was a confessor in Buenos Aires – I don’t know if I have told you this – I made him Cardinal, not this time, the other. He is 96 years old and continues to confess; I went to him, he forgives everything! Once he came to tell me that he was afraid he had forgiven too much. “And what will you do?”, I asked him. “I will go before the Lord: Lord, will you forgive me? I am sorry, I have forgiven too much! But, mind, it was you who gave me the bad example!”. Always forgive, everything and without asking too much. And if I do not understand? God understands, keep going! Let them feel mercy.
Dear brothers, thank you for your service, for your assiduity and patience, for your fidelity! My confessor died a few months ago, I go to confess to you, at Saint Peter’s. You do well! Thank you for being, in the heart of the Church, ministers of the sacramental presence of God-Love. Continue your ministry in this way: in humility – I am worse than you; in listening, and not so much in asking questions; and in mercy.
Please, do not forget to pray for me. And every time I come to you, forgive me, you understand.

MIL OSI Europe News –

January 25, 2025

MIL-OSI Security: Defense News: NAVIFOR Officer Provides Critical Relief to Asheville Following Hurricane Helene’s Impact

Source: United States Navy

With a background shaped by multiple deployments in challenging environments, McQueen was well-prepared for the devastation he encountered. His experience taught him to remain focused under pressure, prioritize critical tasks, and, above all, keep pushing the mission forward. He quickly organized supplies and departed Norfolk for Asheville, making stops to pick up additional equipment and resources along the way.

Brock felt a deep sense of urgency as he headed to North Carolina after receiving a call from his family about the devastation in his childhood town. Upon arriving in Asheville, he immediately recognized the severity of the situation and saw the path of devastation Helene had left firsthand. His brother, a member of the local firefighting team, had already been on the front lines of the relief effort. McQueen saw an opportunity to help not only his family but the wider community, where his leadership and problem-solving skills were quickly put to use. “When I saw the state of things, I knew I had to jump in,” McQueen said. “Helping my family was a priority, but this was about the whole community coming together.”

Reporting to the Volunteer Fire Department in Fairview, a Buncombe County community just outside of Asheville, McQueen’s military training in logistics and coordination proved invaluable.

For six days, McQueen was fully immersed in the recovery effort. His military training became an indispensable asset to the local response teams, who relied on his expertise to organize and conduct welfare checks across the region. Working alongside firefighters, law enforcement, and emergency medical personnel, McQueen assisted with the search and rescue of residents that were unaccounted for after floodwaters damaged multiple neighborhoods, ensuring no one was left behind.

McQueen’s ability to communicate effectively with the local community played a key role in dispelling misinformation and ensuring the right resources went to those in need. His attention to detail, honed by years of military service, helped him identify discrepancies in reports and correct false information spreading through the area.

One of his most significant contributions was turning a small UAV (Unmanned Aerial Vehicle) project into a highly effective data collection asset. He spearheaded the integration of UAV operators from different departments, ensuring their platforms worked together seamlessly.

“Seeing how quickly the UAV team became a critical tool for recovery was rewarding,” McQueen reflected. “It was just an idea at first, but everyone came together to make it work.”

The result was a vital resource for first responders—real-time aerial mapping of damaged homes, infrastructure, and roadways. His efforts also led to the discovery of missing persons and damaged areas that had gone unnoticed.

A local fire chief noted that Lt. Cmdr. McQueen’s involvement was transformative for the team. He handled complex tasks that enabled the personnel to focus on other emergency responses, and his leadership provided the additional support needed to navigate those critical days.

Yet, despite his success, McQueen understood that the road to recovery was far from over. “The community came together after the storm, which was amazing to see,” he said. “But I know that the hard work doesn’t end when the relief trucks leave. It’s going to take a long time to rebuild.”

McQueen’s warfighter resiliency and the mental toughness developed through multiple deployments enabled him to remain focused on the daily challenges of the relief effort, keeping the mission on track. His training and experience, combined with a deep sense of duty to his family and community, made a lasting impact on the Fairview Community as it began the long process of recovery from Hurricane Helene.

As Lt. Cmdr. McQueen packed up and prepared to leave Asheville on the seventh day, a mix of emotions weighed on him. Driving out of the storm-ravaged town, he glanced at the landscape one last time—the uprooted trees, battered homes, and streets still lined with debris. The devastation was still everywhere, and the work was far from finished. He had done everything he could in the short time he had, but as he started the long drive back to Virginia, he couldn’t help but feel a pull to stay longer, to continue helping the community that had welcomed him so warmly.

“Disaster doesn’t discriminate,” McQueen said. “It hits everyone, and when it does, all we can do is come together to lift each other up. I’m just grateful I could play a part in that.”

As he crossed the state line back into Virginia, McQueen’s thoughts turned to his own family. He knew they needed him, too, especially with his upcoming Permanent Change of Station (PCS) looming. His role as a father and husband couldn’t be put on hold, even for a crisis like this one. Still, he found solace in the fact that he had made a meaningful impact, and that others would carry on the work he had started.

“It was tough to leave,” McQueen admitted. “But I felt like I’d done all I could for now. I just hope the efforts we started there will continue.”

For more information on NAVIFOR, visit the command Facebook page at https://www.facebook.com/NavalInformationForces/ or the public web page at https://www.navifor.usff.navy.mil.

MIL Security OSI –

January 25, 2025

MIL-OSI United Kingdom: Leader responds to Accounts Commission Best Value report

Source: Scotland – City of Edinburgh

The Accounts Commission has today (Thursday 24 October) published the findings of the Controller of Audit’s Best Value Assurance Report on the City of Edinburgh Council.

Responding to the report, Council Leader, Cammy Day, said:

We’re encouraged by the Commission’s findings, which recognise the good progress the Council has made since 2020.

We’ve delivered a lot of change at a time of huge pressure on our services and on our budget, but we’ve stayed true to our priorities of protecting day-to-day services and investing in a fairer, greener future. Our aims to eradicate poverty and become net-zero by 2030 are ambitious, but we need to be aspirational to make sure they stay at the top of our priority list.

Our focus on getting the basics right for our residents, meanwhile, is also bearing fruit with Edinburgh now a top performing Council in Scotland for street cleanliness, and continued improvements in key areas such as road conditions. We acknowledge, however, that there is still much more to be done and we’ve targeted substantial additional resources into key services such as housing, where we know performance has to improve if we are to tackle Edinburgh’s housing emergency.

We’re continuing to adopt new technologies to make it easier for residents to come to us for help and, as recognised in the report, we’re looking forward to realising the huge benefits our Visitor Levy proposals will bring from 2026 – which we forecast will raise over £100m for the city by 2030.

It’s no secret, however, that ever more difficult financial decisions lie ahead. Despite the unique pressures that come with being Scotland’s capital city, Edinburgh remains the lowest funded council per head in Scotland, which is having a huge impact on our finances. The latest projections show that we will face a budget shortfall of at least £30m next year and we’ll need to work even harder to ensure we can keep on delivering best value for the people of Edinburgh.

Published: October 24th 2024

MIL OSI United Kingdom –

January 25, 2025

Category: KB

Summary

Birds, trees and human connection

Birds and trees as promoters of urban wellness

Importance of urban birds and trees

Birds, trees and human connection

Birds and trees as promoters of urban wellness

Importance of urban birds and trees

Conservatives are more likely to click search ads

Why the promotional is political

Why advertisers should take note

School choice in Colorado

Who supports Amendment 80

School choice as a ‘right’

Public funds for private schools

Why it matters

What still isn’t known

Sacred space

Constitutional patriots

A step too far

Holy purpose

Economic contributions are likely underestimated

Immigration strengthens the US

The classic double bind

More women politicians in the spotlight

1. Stereotypes of women politicians are increasingly positive

2. Stereotypes of men politicians have shifted to increased negativity and distrust

3. Women politicians have gained ground on leadership perceptions, surpassing men politicians

Kamala Harris may benefit

The power of stories

Head-to-head results

Closing in?

Applies to Wales

Documents

Details

Updates to this page

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