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MIL-OSI: Trustco Reports Third Quarter 2024 Net Income of $12.9 Million; Skillful Application of Strong Fundamentals Produce Solid Results

Source: GlobeNewswire (MIL-OSI)

Executive Snapshot:

Average Loan portfolio continues to grow:
- On average, total loans were up $127.0 million or 2.6% for the third quarter 2024 compared to the third quarter 2023

Continued solid financial results:
- Key metrics for third quarter 2024:
  - Net income of $12.9 million versus $12.6 million for the second quarter 2024
  - Net interest income of $38.7 million, up from $37.8 million compared to the second quarter of 2024
  - Return on average equity (ROAE) of 7.74% versus 7.76% for the second quarter 2024
Capital continues to grow:
- Consolidated equity to assets increased 6.2% to 10.95% as of September 30, 2024 from 10.31% as of September 30, 2023
- Book value per share as of September 30, 2024 was $35.19, up from $34.46 compared to June 30, 2024

GLENVILLE, N.Y., Oct. 21, 2024 (GLOBE NEWSWIRE) —

TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced third quarter 2024 net income of $12.9 million or $0.68 diluted earnings per share, compared to net income of $14.7 million or $0.77 diluted earnings per share for the third quarter 2023; and net income of $37.6 million or $1.97 diluted earnings per share for the nine months ended September 30, 2024, compared to net income of $48.9 million or $2.57 diluted earnings per share for the nine months ended September 30, 2023. Average loans increased $127.0 million or 2.6% for the third quarter 2024 over the same period in 2023. TrustCo was able to increase the balances of home equity lines of credit (HECLs) outstanding through an aggressive campaign to encourage existing customers to utilize their HECLs in place of the higher rates on other products. The objective was to meet customer needs and encourage increased utilization through existing HECLs.

Overview

Chairman, President, and CEO, Robert J. McCormick said “Hard, consistent work on the fundamentals of banking once again have served the Trustco Bank team well and enabled us to post strong results under challenging circumstances. Our bankers posted one modest success after another – which accumulated into solid performance. We continued to hold the line on demand accounts and capitalized on strong customer relationships which enabled us to direct the flow into competitively-priced CDs, rather than to non-bank investment products. Not having to purchase expensive deposits or pay excessive rates, helped keep interest expense down, contributing to increased net interest income. We have continued to sell home equity products at favorable rates where origination of purchase mortgages lagged due to lack of sales volume. We booked these new loans at higher interest rates, also boosting net interest margin. Once again, loans reached a new all-time high. All of these efforts by our team resulted in net income of $12.9 million for the quarter.”

Details

Average loans were up $127.0 million or 2.6% in the third quarter 2024 over the same period in 2023. Average residential loans and home equity lines of credit, our primary lending focus, were up $50.4 million, or 1.2%, and $60.0 million, or 18.7%, respectively, in the third quarter 2024 over the same period in 2023. Average commercial loans also increased $18.1 million, or 6.9%, in the third quarter 2024 over the same period in 2023. Average deposits were up $15.3 million, or 0.3% for the third quarter 2024 over the same period in 2023. We believe the increase in time deposits compared to the prior year continues to reflect the desire of customers to have additional funds in the safety and security offered by TrustCo’s long history of conservative banking, while earning a competitive interest rate. As we move forward, the objective is to encourage customers to retain these additional funds in the expanded product offerings of Trustco Bank (the “Bank”) through aggressive marketing and product differentiation.

Net interest income was $38.7 million for the third quarter 2024, an increase of $883 thousand, or 2.3%, compared to the prior quarter, driven by loan growth at higher interest rates and lower cost of deposits, partially offset by lower investment earnings and a decrease in interest on federal funds sold and other short-term investments. The net interest margin for the third quarter 2024 was 2.61%, up 8 basis points from 2.53% in the second quarter of 2024. The yield on interest earnings assets increased to 4.11%, up 5 basis points from 4.06% in the second quarter of 2024. The cost of interest bearing liabilities decreased to 1.94% in the third quarter 2024 from 1.97% in the second quarter 2024. The Bank has seen success in retaining deposits while lowering the rates on time deposits, and still being competitive in the markets it serves. The Federal Reserve’s decision regarding whether to cut or hold rates in upcoming meetings will have an effect on the Bank’s ability to continue to manage deposit costs. Further reductions should help margin expansion in future quarters. Non-interest expense decreased $259 thousand over the prior quarter as a result of the Bank’s ongoing efforts to control expenses.

Asset quality remains strong and has been consistent over the past twelve months. The Company recorded a provision for credit losses of $500 thousand in the third quarter of 2024, which is the result of a provision for credit losses on loans of $400 thousand, and provision for credit losses on unfunded commitments of $100 thousand. The ratio of allowance for credit losses on loans to total loans was 0.99% and 0.95% as of September 30, 2024 and 2023, respectively. The allowance for credit losses on loans was $50.0 million at September 30, 2024, compared to $47.2 million at September 30, 2023. Nonperforming loans (NPLs) were $19.4 million at September 30, 2024, compared to $17.9 million at September 30, 2023. NPLs were 0.38% and 0.36% of total loans at September 30, 2024 and 2023, respectively. The coverage ratio, or allowance for credit losses on loans to NPLs, was 256.9% at September 30, 2024, compared to 264.2% at September 30, 2023. Nonperforming assets (NPAs) were $21.9 million at September 30, 2024, compared to $19.1 million at September 30, 2023.

At September 30, 2024, our equity to asset ratio was 10.95%, compared to 10.31% at September 30, 2023. Book value per share at September 30, 2024 was $35.19, up 7.3% compared to $32.80 a year earlier.

A conference call to discuss third quarter 2024 results will be held at 9:00 a.m. Eastern Time on October 22, 2024. Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 034120. A replay of the call will be available for thirty days by dialing toll-free for the United States at 1-866-813-9403, Access code 285814. The call will also be audio webcast at https://events.q4inc.com/attendee/854762065, and will be available for one year.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a $6.1 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 138 offices in New York, New Jersey, Vermont, Massachusetts, and Florida at September 30, 2024.

In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST.

Forward-Looking Statements

All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future development, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our future performance, including our expectations regarding the effects of the economic environment on our financial results, our ability to retain customers and the amount of customers’ business, including deposit balances, with us, the impact of the Federal Reserve’s actions regarding interest rates, and the growth of loans and deposits throughout our branch network. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements, and many of the risks and uncertainties are heightened by or may, in the future, be heightened by volatility in financial markets and macroeconomic or geopolitical concerns related to inflation, continued elevated interest rates and ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas). TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect TrustCo’s actual results and could cause TrustCo’s actual financial performance to differ materially from that expressed in any forward-looking statement: future changes in interest rates; ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; our increasing commercial loan portfolio; the sufficiency of our allowance for credit losses on loans to cover actual loan losses; our ability to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities; claims and litigation pertaining to fiduciary responsibility and lender liability; our dependency upon the services of the management team; our disclosure controls and procedures’ ability to prevent or detect errors or acts of fraud; the adequacy of our business continuity and disaster recovery plans; the effectiveness of our risk management framework; the impact of any expansion by us into new lines of business or new products and services; the impact of severe weather events and climate change on us and the communities we serve, including societal responses to climate change; increasing scrutiny and evolving expectations from customers, regulators, investors, and other stakeholders with respect to our environmental, social and governance practices; the chance of a prolonged economic downturn, especially one affecting our geographic market area; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; fluctuations in the trust wealth management fees we receive as a result of investment performance; the impact of regulatory capital rules on our growth; changes in laws and regulations, including changes in cybersecurity or privacy regulations; restrictions on data collection and use; our compliance with the USA PATRIOT Act, Bank Secrecy Act, and other laws and regulations that could result in material fines or sanctions; changes in tax laws; limitations on our ability to pay dividends; TrustCo Realty Corp.’s ability to qualify as a real estate investment trust; changes in accounting standards; competition within our market areas; consumers and businesses’ use of non-banks to complete financial transactions; our reliance on third-party service providers; the impact of data breaches and cyber-attacks; the impact of a failure in or breach of our operational or security systems or infrastructure, or those of third parties; the impact of an unauthorized disclosure of sensitive or confidential client or customer information; the impact of interruptions in the effective operation of our computer systems; the impact of anti-takeover provisions in our organizational documents; the impact of the manner in which we allocate capital; and other risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q or other securities filings. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.


TRUSTCO BANK CORP NY
GLENVILLE, NY

FINANCIAL HIGHLIGHTS

(dollars in thousands, except per share data)
(Unaudited)
		Three months ended
		9/30/2024				6/30/2024				9/30/2023
Summary of operations
Net interest income		$	38,671			$	37,788			$	42,221
Provision for credit losses			500				500				100
Net gains on equity securities			23				1,360				–
Noninterest income, excluding net gains on equity securities			4,908				4,291				4,574
Noninterest expense			26,200				26,459				27,460
Net income			12,875				12,551				14,680

Per share
Net income per share:
– Basic		$	0.68			$	0.66			$	0.77
– Diluted			0.68				0.66				0.77
Cash dividends			0.36				0.36				0.36
Book value at period end			35.19				34.46				32.80
Market price at period end			33.07				28.77				27.29

At period end
Full time equivalent employees			735				753				764
Full service banking offices			138				138				143

Performance ratios
Return on average assets			0.84		%		0.82		%		0.96		%
Return on average equity			7.74				7.76				9.32
Efficiency ratio (1)			59.65				62.84				58.33
Net interest spread			2.17				2.09				2.55
Net interest margin			2.61				2.53				2.85
Dividend payout ratio			53.16				54.57				46.65

Capital ratios at period end
Consolidated equity to assets			10.95		%		10.73		%		10.31		%
Consolidated tangible equity to tangible assets (2)			10.94		%		10.72		%		10.30		%

Asset quality analysis at period end
Nonperforming loans to total loans			0.38		%		0.38		%		0.36		%
Nonperforming assets to total assets			0.36				0.35				0.31
Allowance for credit losses on loans to total loans			0.99				0.99				0.95
Coverage ratio (3)		2.6x				2.6x				2.6x


(1) Non-GAAP measure; calculated as noninterest expense (excluding ORE expense) divided by taxable equivalent net interest income plus noninterest income (excluding net gains on equity securities). See Non-GAAP Financial Measures Reconciliation.
(2) Non-GAAP measure; calculated as total shareholders’ equity less $553 of intangible assets divided by total assets less $553 of intangible assets. See Non-GAAP Financial Measures Reconciliation.
(3) Calculated as allowance for credit losses on loans divided by total nonperforming loans.


FINANCIAL HIGHLIGHTS, Continued

(dollars in thousands, except per share data)
(Unaudited)
		Nine Months Ended
		09/30/24				09/30/23
Summary of operations
Net interest income	$		113,037				133,238
Provision (Credit) for credit losses			1,600				(100	)
Net gains on equity securities			1,383				–
Noninterest income, excluding net gains on equity securities			14,042				13,841
Noninterest expense			77,562				82,466
Net income			37,552				48,798

Per share
Net income per share:
– Basic	$		1.97				2.57
– Diluted			1.97				2.57
Cash dividends			1.08				1.08
Book value at period end			35.19				32.80
Market price at period end			33.07				27.29

Performance ratios
Return on average assets			0.82		%		1.08
Return on average equity			7.68				10.57
Efficiency ratio (1)			60.80				55.70
Net interest spread			2.08				2.78
Net interest margin			2.52				3.01
Dividend payout ratio			54.70				42.11

(1) Non-GAAP measure; calculated as noninterest expense (excluding ORE expense) divided by taxable equivalent net interest income plus noninterest income (excluding net gains on equity securities). See Non-GAAP Financial Measures Reconciliation.


CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share data)
(Unaudited)
		Three months ended
		9/30/2024				6/30/2024				3/31/2024				12/31/2023			9/30/2023
Interest and dividend income:
Interest and fees on loans		$	52,112			$	50,660			$	49,804			$	49,201		$	47,921
Interest and dividends on securities available for sale:
U. S. government sponsored enterprises			718				909				906				750			672
State and political subdivisions			–				1				–				1			–
Mortgage-backed securities and collateralized mortgage
obligations – residential			1,397				1,451				1,494				1,533			1,485
Corporate bonds			361				362				476				477			473
Small Business Administration – guaranteed
participation securities			90				94				100				102			107
Other securities			2				2				3				3			2
Total interest and dividends on securities available for sale			2,568				2,819				2,979				2,866			2,739

Interest on held to maturity securities:
Mortgage-backed securities and collateralized mortgage
obligations – residential			62				65				68				70			73
Total interest on held to maturity securities			62				65				68				70			73

Federal Home Loan Bank stock			153				147				152				149			131

Interest on federal funds sold and other short-term investments			6,174				6,894				6,750				6,354			6,688
Total interest income			61,069				60,585				59,753				58,640			57,552

Interest expense:
Interest on deposits:
Interest-bearing checking			311				288				240				165			102
Savings			770				675				712				707			639
Money market deposit accounts			2,154				2,228				2,342				2,500			2,384
Time deposits			18,969				19,400				19,677				16,460			11,962
Interest on short-term borrowings			194				206				204				201			244
Total interest expense			22,398				22,797				23,175				20,033			15,331

Net interest income			38,671				37,788				36,578				38,607			42,221

Less: Provision for credit losses			500				500				600				1,350			100
Net interest income after provision for credit losses			38,171				37,288				35,978				37,257			42,121

Noninterest income:
Trustco Financial Services income			2,044				1,609				1,816				1,612			1,627
Fees for services to customers			2,482				2,399				2,745				2,563			2,590
Net gains on equity securities			23				1,360				–				–			–
Other			382				283				282				299			357
Total noninterest income			4,931				5,651				4,843				4,474			4,574

Noninterest expenses:
Salaries and employee benefits			12,134				12,520				11,427				12,444			12,393
Net occupancy expense			4,271				4,375				4,611				4,209			4,358
Equipment expense			1,757				1,990				1,738				1,852			1,923
Professional services			1,863				1,570				1,460				1,561			1,717
Outsourced services			2,551				2,755				2,501				2,532			2,720
Advertising expense			339				466				408				384			586
FDIC and other insurance			1,112				797				1,094				1,085			1,078
Other real estate expense (income), net			204				16				74				(12	)		163
Other			1,969				1,970				1,590				4,776			2,522
Total noninterest expenses			26,200				26,459				24,903				28,831			27,460

Income before taxes			16,902				16,480				15,918				12,900			19,235
Income taxes			4,027				3,929				3,792				3,052			4,555

Net income		$	12,875			$	12,551			$	12,126			$	9,848		$	14,680

Net income per common share:
– Basic		$	0.68			$	0.66			$	0.64			$	0.52		$	0.77

– Diluted			0.68				0.66				0.64				0.52			0.77

Average basic shares (in thousands)			19,010				19,022				19,024				19,024			19,024
Average diluted shares (in thousands)			19,036				19,033				19,032				19,026			19,024



CONSOLIDATED STATEMENTS OF INCOME, Continued

(dollars in thousands, except per share data)
(Unaudited)
		Nine Months Ended
		09/30/24				09/30/23
Interest and dividend income:
Interest and fees on loans	$		152,576				138,255
Interest and dividends on securities available for sale:
U. S. government sponsored enterprises			2,533				2,055
State and political subdivisions			1				1
Mortgage-backed securities and collateralized mortgage
obligations – residential			4,342				4,613
Corporate bonds			1,199				1,510
Small Business Administration – guaranteed
participation securities			284				335
Other securities			7				7
Total interest and dividends on securities available for sale			8,366				8,521

Interest on held to maturity securities:
Mortgage-backed securities-residential			195				226
Total interest on held to maturity securities			195				226

Federal Home Loan Bank stock			452				351

Interest on federal funds sold and other short-term investments			19,818				20,213
Total interest income			181,407				167,566

Interest expense:
Interest on deposits:
Interest-bearing checking			839				217
Savings			2,157				1,824
Money market deposit accounts			6,724				4,954
Time deposits			58,046				26,525
Interest on short-term borrowings			604				808
Total interest expense			68,370				34,328

Net interest income			113,037				133,238

Less: Provision (Credit) for credit losses			1,600				(100	)
Net interest income after provision (credit) for credit losses			111,437				133,338

Noninterest income:
Trustco Financial Services income			5,469				4,813
Fees for services to customers			7,626				8,085
Net gains on equity securities			1,383				–
Other			947				943
Total noninterest income			15,425				13,841

Noninterest expenses:
Salaries and employee benefits			36,081				38,798
Net occupancy expense			13,257				13,218
Equipment expense			5,485				5,758
Professional services			4,893				4,684
Outsourced services			7,807				7,507
Advertising expense			1,213				1,494
FDIC and other insurance			3,003				3,215
Other real estate expense, net			294				536
Other			5,529				7,256
Total noninterest expenses			77,562				82,466

Income before taxes			49,300				64,713
Income taxes			11,748				15,915

Net income	$		37,552				48,798

Net income per common share:
– Basic	$		1.97				2.57

– Diluted			1.97				2.57

Average basic shares (in thousands)			19,019				19,024
Average diluted shares (in thousands)			19,034				19,024




CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands)
(Unaudited)
		9/30/2024				6/30/2024				3/31/2024				12/31/2023			9/30/2023
ASSETS:

Cash and due from banks		$	49,659			$	42,193			$	44,868			$	49,274		$	45,940
Federal funds sold and other short term investments			473,306				493,920				564,815				528,730			461,321
Total cash and cash equivalents			522,965				536,113				609,683				578,004			507,261

Securities available for sale:
U. S. government sponsored enterprises			90,588				106,796				128,854				118,668			121,474
States and political subdivisions			26				26				26				26			34
Mortgage-backed securities and collateralized mortgage
obligations – residential			222,841				218,311				227,078				237,677			233,719
Small Business Administration – guaranteed
participation securities			15,171				15,592				16,260				17,186			17,316
Corporate bonds			54,327				53,764				53,341				78,052			76,935
Other securities			701				688				682				680			657
Total securities available for sale			383,654				395,177				426,241				452,289			450,135

Held to maturity securities:
Mortgage-backed securities and collateralized mortgage
obligations-residential			5,636				5,921				6,206				6,458			6,724
Total held to maturity securities			5,636				5,921				6,206				6,458			6,724

Federal Reserve Bank and Federal Home Loan Bank stock			6,507				6,507				6,203				6,203			6,203

Loans:
Commercial			280,261				282,441				279,092				273,515			268,642
Residential mortgage loans			4,382,674				4,370,640				4,354,369				4,365,063			4,343,006
Home equity line of credit			393,418				370,063				355,879				347,415			332,028
Installment loans			14,503				15,168				16,166				16,886			16,605
Loans, net of deferred net costs			5,070,856				5,038,312				5,005,506				5,002,879			4,960,281

Less: Allowance for credit losses on loans			49,950				49,772				49,220				48,578			47,226
Net loans			5,020,906				4,988,540				4,956,286				4,954,301			4,913,055

Bank premises and equipment, net			33,324				33,466				33,423				34,007			32,135
Operating lease right-of-use assets			37,958				38,376				39,647				40,542			41,475
Other assets			98,730				102,544				101,881				96,387			97,310

Total assets		$	6,109,680			$	6,106,644			$	6,179,570			$	6,168,191		$	6,054,298

LIABILITIES:
Deposits:
Demand		$	753,878			$	745,227			$	742,997			$	754,532		$	773,293
Interest-bearing checking			988,527				1,029,606				1,020,136				1,015,213			1,033,898
Savings accounts			1,092,038				1,144,427				1,155,517				1,179,241			1,235,658
Money market deposit accounts			477,113				517,445				532,611				565,767			610,012
Time deposits			1,952,635				1,840,262				1,903,908				1,836,024			1,581,504
Total deposits			5,264,191				5,276,967				5,355,169				5,350,777			5,234,365

Short-term borrowings			91,450				89,720				94,374				88,990			103,110
Operating lease liabilities			41,469				42,026				43,438				44,471			45,418
Accrued expenses and other liabilities			43,549				42,763				37,399				38,668			47,479

Total liabilities			5,440,659				5,451,476				5,530,380				5,522,906			5,430,372

SHAREHOLDERS’ EQUITY:
Capital stock			20,058				20,058				20,058				20,058			20,058
Surplus			257,644				257,490				257,335				257,181			257,078
Undivided profits			442,079				436,048				430,346				425,069			422,082
Accumulated other comprehensive loss, net of tax			(6,600	)			(14,268	)			(14,763	)			(13,237	)		(31,506	)
Treasury stock at cost			(44,160	)			(44,160	)			(43,786	)			(43,786	)		(43,786	)

Total shareholders’ equity			669,021				655,168				649,190				645,285			623,926

Total liabilities and shareholders’ equity		$	6,109,680			$	6,106,644			$	6,179,570			$	6,168,191		$	6,054,298

Outstanding shares (in thousands)			19,010				19,010				19,024				19,024			19,024


NONPERFORMING ASSETS

(dollars in thousands)
(Unaudited)
	9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023
Nonperforming Assets

New York and other states*
Loans in nonaccrual status:
Commercial	$	466		$	741		$	532		$	536		$	540
Real estate mortgage – 1 to 4 family		15,320			14,992			14,359			14,375			14,633
Installment		163			131			149			151			93
Total non-accrual loans		15,949			15,864			15,040			15,062			15,266
Other nonperforming real estate mortgages – 1 to 4 family		–			–			–			3			5
Total nonperforming loans		15,949			15,864			15,040			15,065			15,271
Other real estate owned		2,503			2,334			2,334			194			1,185
Total nonperforming assets	$	18,452		$	18,198		$	17,374		$	15,259		$	16,456

Florida
Loans in nonaccrual status:
Commercial	$	314		$	314		$	314		$	314		$	314
Real estate mortgage – 1 to 4 family		3,176			2,985			2,921			2,272			2,228
Installment		5			22			–			15			65
Total non-accrual loans		3,495			3,321			3,235			2,601			2,607
Other nonperforming real estate mortgages – 1 to 4 family		–			–			–			–			–
Total nonperforming loans		3,495			3,321			3,235			2,601			2,607
Other real estate owned		–			–			–			–			–
Total nonperforming assets	$	3,495		$	3,321		$	3,235		$	2,601		$	2,607

Total
Loans in nonaccrual status:
Commercial	$	780		$	1,055		$	846		$	850		$	854
Real estate mortgage – 1 to 4 family		18,496			17,977			17,280			16,647			16,861
Installment		168			153			149			166			158
Total non-accrual loans		19,444			19,185			18,275			17,663			17,873
Other nonperforming real estate mortgages – 1 to 4 family		–			–			–			3			5
Total nonperforming loans		19,444			19,185			18,275			17,666			17,878
Other real estate owned		2,503			2,334			2,334			194			1,185
Total nonperforming assets	$	21,947		$	21,519		$	20,609		$	17,860		$	19,063


Quarterly Net (Recoveries) Chargeoffs

New York and other states*
Commercial	$	65		$	–		$	–		$	–		$	–
Real estate mortgage – 1 to 4 family		104			(74	)		(78	)		219			(26	)
Installment		11			(2	)		36			23			14
Total net (recoveries) chargeoffs	$	180		$	(76	)	$	(42	)	$	242		$	(12	)

Florida
Commercial	$	–		$	–		$	–		$	–		$	–
Real estate mortgage – 1 to 4 family		–			17			–			–			–
Installment		42			7			–			6			–
Total net (recoveries) chargeoffs	$	42		$	24		$	–		$	6		$	–

Total
Commercial	$	65		$	–		$	–		$	–		$	–
Real estate mortgage – 1 to 4 family		104			(57	)		(78	)		219			(26	)
Installment		53			5			36			29			14
Total net (recoveries) chargeoffs	$	222		$	(52	)	$	(42	)	$	248		$	(12	)


Asset Quality Ratios

Total nonperforming loans (1)	$	19,444		$	19,185		$	18,275		$	17,666		$	17,878
Total nonperforming assets (1)		21,947			21,519			20,609			17,860			19,063
Total net (recoveries) chargeoffs (2)		222			(52	)		(42	)		248			(12	)

Allowance for credit losses on loans (1)		49,950			49,772			49,220			48,578			47,226

Nonperforming loans to total loans		0.38	%		0.38	%		0.37	%		0.35	%		0.36	%
Nonperforming assets to total assets		0.36	%		0.35	%		0.33	%		0.29	%		0.31	%
Allowance for credit losses on loans to total loans		0.99	%		0.99	%		0.98	%		0.97	%		0.95	%
Coverage ratio (1)		256.9	%		259.4	%		269.3	%		275.0	%		264.2	%
Annualized net (recoveries) chargeoffs to average loans (2)		0.02	%		0.00	%		0.00	%		0.02	%		0.00	%
Allowance for credit losses on loans to annualized net chargeoffs (2)	56.3x			N/A			N/A			49.0x			N/A

* Includes New York, New Jersey, Vermont and Massachusetts.
(1) At period-end
(2) For the three-month period ended


DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
INTEREST RATES AND INTEREST DIFFERENTIAL

(dollars in thousands)
(Unaudited)		Three months ended								Three months ended
		September 30, 2024								September 30, 2023
		Average			Interest		Average			Average			Interest		Average
		Balance					Rate			Balance					Rate
Assets

Securities available for sale:
U. S. government sponsored enterprises		$	95,073		$	718	3.02	%		$	119,406		$	672	2.25	%
Mortgage backed securities and collateralized mortgage
obligations – residential			241,792			1,397	2.29				269,535			1,485	2.19
State and political subdivisions			26			–	6.75				34			–	6.74
Corporate bonds			55,041			361	2.63				80,331			473	2.36
Small Business Administration – guaranteed
participation securities			16,663			90	2.15				19,801			107	2.15
Other			701			2	1.14				686			2	1.17

Total securities available for sale			409,296			2,568	2.51				489,793			2,739	2.24

Federal funds sold and other short-term Investments			465,922			6,174	5.27				494,597			6,688	5.37

Held to maturity securities:
Mortgage backed securities and collateralized mortgage
obligations – residential			5,779			62	4.29				6,877			73	4.22

Total held to maturity securities			5,779			62	4.29				6,877			73	4.22

Federal Home Loan Bank stock			6,507			153	9.41				6,203			131	8.45

Commercial loans			279,199			3,807	5.45				261,061			3,398	5.21
Residential mortgage loans			4,375,641			41,811	3.82				4,325,219			39,321	3.64
Home equity lines of credit			380,422			6,245	6.53				320,446			4,946	6.12
Installment loans			14,443			249	6.87				15,959			256	6.37

Loans, net of unearned income			5,049,705			52,112	4.12				4,922,685			47,921	3.89

Total interest earning assets			5,937,209		$	61,069	4.11				5,920,155		$	57,552	3.88

Allowance for credit losses on loans			(49,973	)							(47,077	)
Cash & non-interest earning assets			187,166								172,523


Total assets		$	6,074,402							$	6,045,601


Liabilities and shareholders’ equity

Deposits:
Interest bearing checking accounts		$	1,000,333		$	311	0.12	%		$	1,050,313		$	102	0.04	%
Money market accounts			499,408			2,154	1.72				625,031			2,384	1.51
Savings			1,122,673			770	0.27				1,282,641			639	0.20
Time deposits			1,880,021			18,969	4.01				1,494,402			11,962	3.18

Total interest bearing deposits			4,502,435			22,204	1.96				4,452,387			15,087	1.34
Short-term borrowings			87,677			194	0.88				110,018			244	0.88

Total interest bearing liabilities			4,590,112		$	22,398	1.94				4,562,405		$	15,331	1.33

Demand deposits			742,164								776,885
Other liabilities			80,502								81,411
Shareholders’ equity			661,624								624,900

Total liabilities and shareholders’ equity		$	6,074,402							$	6,045,601

Net interest income, GAAP and non-GAAP tax equivalent (1)					$	38,671							$	42,221

Net interest spread, GAAP and non-GAAP tax equivalent (1)							2.17	%							2.55	%


Net interest margin (net interest income to
total interest earning assets), GAAP and non-GAAP tax equivalent (1)							2.61	%							2.85	%

Tax equivalent adjustment (1)						–								–


Net interest income					$	38,671							$	42,221

(1) Tax equivalent adjustment to a measure results in a non-GAAP financial measure. See Non-GAAP Financial Measures Reconciliation.



DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
INTEREST RATES AND INTEREST DIFFERENTIAL, Continued

(dollars in thousands)
(Unaudited)		Nine Months Ended								Nine Months Ended
		September 30, 2024								September 30, 2023
		Average			Interest		Average			Average			Interest		Average
		Balance					Rate			Balance					Rate
Assets

Securities available for sale:
U. S. government sponsored enterprises	$		111,570			2,533	3.03	%	$		120,243			2,055	2.28	%
Mortgage backed securities and collateralized mortgage
obligations – residential			250,343			4,342	2.31				278,252			4,613	2.21
State and political subdivisions			26			1	6.80				34			1	6.74
Corporate bonds			61,221			1,199	2.61				83,732			1,510	2.41
Small Business Administration – guaranteed
participation securities			17,438			284	2.17				20,876			335	2.14
Other			697			7	1.34				686			7	1.02

Total securities available for sale			441,295			8,366	2.53				503,823			8,521	1.69

Federal funds sold and other short-term Investments			489,934			19,818	5.40				540,570			20,213	5.00

Held to maturity securities:
Mortgage backed securities and collateralized mortgage
obligations – residential			6,053			195	4.29				7,205			226	4.18

Total held to maturity securities			6,053			195	4.29				7,205			226	4.18

Federal Home Loan Bank stock			6,350			452	9.49				5,957			351	5.89

Commercial loans			278,981			11,232	5.37				249,738			9,716	5.19
Residential mortgage loans			4,364,821			123,046	3.76				4,269,494			114,227	3.57
Home equity lines of credit			365,932			17,522	6.40				305,075			13,598	5.96
Installment loans			15,319			776	6.76				15,015			714	6.35

Loans, net of unearned income			5,025,053			152,576	4.05				4,839,322			138,255	3.81

Total interest earning assets			5,968,685			181,407	4.05				5,896,877			167,566	3.79

Allowance for credit losses on loans			(49,419	)							(46,812	)
Cash & non-interest earning assets			187,963								173,521


Total assets	$		6,107,229						$		6,023,586


Liabilities and shareholders’ equity

Deposits:
Interest bearing checking accounts	$		999,839			839	0.11	%	$		1,088,859			217	0.03	%
Money market accounts			522,636			6,724	1.72				613,119			4,954	1.08
Savings			1,142,313			2,157	0.25				1,363,052			1,824	0.18
Time deposits			1,881,027			58,046	4.12				1,343,762			26,525	2.64

Total interest bearing deposits			4,545,815			67,766	1.99				4,408,792			33,520	1.02
Short-term borrowings			91,551			604	0.88				121,911			808	0.89

Total interest bearing liabilities			4,637,366			68,370	1.97				4,530,703			34,328	1.01

Demand deposits			734,604								793,890
Other liabilities			82,233								81,771
Shareholders’ equity			653,026								617,224

Total liabilities and shareholders’ equity	$		6,107,229						$		6,023,588

Net interest income, GAAP and non-GAAP tax equivalent (1)						113,037								133,238

Net interest spread, GAAP and non-GAAP tax equivalent (1)							2.08	%							2.78	%


Net interest margin (net interest income to
total interest earning assets), GAAP and non-GAAP tax equivalent (1)							2.52	%							3.01	%

Tax equivalent adjustment (1)						–								–


Net interest income						113,037								133,238

(1) Tax equivalent adjustment to a measure results in a non-GAAP financial measure. See Non-GAAP Financial Measures Reconciliation.

Non-GAAP Financial Measures Reconciliation

Tangible book value per share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible book value by excluding the balance of intangible assets from total shareholders’ equity divided by shares outstanding. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity exclusive of changes in intangible assets.

Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders’ equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets.

Net interest income is commonly presented on a taxable equivalent basis. That is, to the extent that some component of the institution’s net interest income will be exempt from taxation (e.g., was received by the institution as a result of its holdings of state or municipal obligations), an amount equal to the tax benefit derived from that component is added back to the net interest income total. Management considers this adjustment helpful to investors in comparing one financial institution’s net interest income (pre- tax) to that of another institution, as each will have a different proportion of tax-exempt items in their portfolios. Moreover, net interest income is itself a component of another financial measure commonly used by financial institutions, net interest margin, which is the ratio of net interest income to average interest earning assets. Additionally, management and many financial institutions also present net interest spread, which is the average yield on interest earning assets minus the average rate paid on interest bearing liabilities. For purposes of these measures as well, taxable equivalent net interest income is generally used by financial institutions, again to provide investors with a better basis of comparison from institution to institution. We calculate taxable equivalent net interest margin by dividing net interest income, adjusted to include the benefit of non-taxable interest income, by average interest earning assets. We calculate taxable equivalent net interest spread as the difference between average yield on interest earning assets, adjusted to include the benefit of non-taxable interest income, and the average rate paid on interest bearing liabilities.

The efficiency ratio is a non-GAAP measure of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total noninterest expenses as determined under GAAP, excluding other real estate expense, net, by net interest income (fully taxable equivalent) and total noninterest income as determined under GAAP, excluding net gains on equity securities. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent.

We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible equity as a percentage of tangible assets, and efficiency ratio to the most directly comparable GAAP measures is set forth below. We have not presented a reconciliation of taxable equivalent net interest income, taxable equivalent net interest margin or taxable equivalent net interest spread to the most directly comparable GAAP measure, as there was no difference between the taxable equivalent measure and comparable GAAP measure for any period presented in this release.


NON-GAAP FINANCIAL MEASURES RECONCILIATION

(dollars in thousands)
(Unaudited)
	9/30/2024			6/30/2024			9/30/2023
Tangible Book Value Per Share

Equity (GAAP)	$	669,021		$	655,168		$	623,926
Less: Intangible assets		553			553			553
Tangible equity (Non-GAAP)	$	668,468		$	654,615		$	623,373

Shares outstanding		19,010			19,010			19,024
Tangible book value per share		35.16			34.44			32.77
Book value per share		35.19			34.46			32.80

Tangible Equity to Tangible Assets
Total Assets (GAAP)	$	6,109,680		$	6,106,644		$	6,054,298
Less: Intangible assets		553			553			553
Tangible assets (Non-GAAP)	$	6,109,127		$	6,106,091		$	6,053,745

Tangible Equity to Tangible Assets (Non-GAAP)		10.94	%		10.72	%		10.30	%
Equity to Assets (GAAP)		10.95	%		10.73	%		10.31	%

	Three months ended									Nine Months Ended
Efficiency Ratio	9/30/2024			6/30/2024			9/30/2023			9/30/2024			9/30/2023

Net interest income (GAAP)	$	38,671		$	37,788		$	42,221		$	113,037		$	133,238
Taxable equivalent adjustment		–			–			–			–			–
Net interest income (fully taxable equivalent) (Non-GAAP)		38,671			37,788			42,221			113,037			133,238
Non-interest income (GAAP)		4,931			5,651			4,574			15,425			13,841
Less: Net gains on equity securities		23			1,360			–			1,383			–
Revenue used for efficiency ratio (Non-GAAP)	$	43,579		$	42,079		$	46,795		$	127,079		$	147,079

Total noninterest expense (GAAP)	$	26,200		$	26,459		$	27,460		$	77,562		$	82,466
Less: Other real estate expense, net		204			16			163			294			536
Expense used for efficiency ratio (Non-GAAP)	$	25,996		$	26,443		$	27,297		$	77,268		$	81,930

Efficiency Ratio		59.65	%		62.84	%		58.33	%		60.80	%		55.70	%


Subsidiary:	Trustco Bank

Contact:	Robert Leonard Executive Vice President (518) 381-3693

The MIL Network –

January 24, 2025

MIL-OSI: TAG Oil Announces $10 Million Overnight Marketed Public Offering of Units to Strategically Advance Unconventional and Conventional Opportunities in Egypt

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Oct. 21, 2024 (GLOBE NEWSWIRE) — TAG Oil Ltd. (TSXV:TAO, OTCQX:TAOIF, and FSE:TOP) (“TAG Oil” or the “Company”) is pleased to announce that it has filed a preliminary short form prospectus (“Preliminary Prospectus”) with the securities commissions in all provinces of Canada, except Québec, in connection with an overnight marketed public offering (the “Offering”) of units of the Company (the “Units”) at a price of $0.21 per Unit for aggregate gross proceeds of C$10,000,000.

Certain members of management and directors of the Company intend to participate alongside investors in the Offering.

The Offering is being led by Research Capital Corporation, as lead underwriter and sole-bookrunner, on behalf of a syndicate of underwriters (collectively, the “Underwriters”).

Each Unit will consist of one common share of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price equal to $0.30 per Warrant Share at any time up to 24 months following the closing of the Offering.

The Company intends to use the net proceeds of the Offering to advance appraisal and development activities in the Western Desert, Egypt, at both the Badr Oil Field and strategic new 512,000-acre concession and for working capital and general corporate purposes. Activities to be advanced with the proceeds include executing re-entry work on multiple existing wells to recomplete and/or drill a sidetrack into existing conventional oil reservoirs, the drilling of new vertical delineation wells in the unconventional Abu Roash “F” (ARF) resource play targeting high intensity natural fractured areas, and the planning of the next horizontal well with multi-stage frac.

In addition, the Company plans to also complete a third-party resource report on the new strategic 512,000-acre concession that is in the process of being acquired and conduct a potential strategic joint venture partnership process.

The Company has granted the Underwriters an option, exercisable in whole or in part, at the sole discretion of the Underwriters, at any time, from time to time, for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, and/or the components thereof, on the same terms and conditions of the Offering to cover over-allotments, if any, and for market stabilization purposes.

The Offering is expected to be priced in context of the market, with the final price of the Units and final exercise price of the Warrants to be determined at the time of pricing.

The Offering is expected to close on or about the week of November 11, 2024, or such other date as the Company and the Underwriters may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the securities regulatory authorities and the TSX Venture Exchange.

The Units are being offered in each of the provinces of Canada (except Québec) and may be offered in the United States on a private placement basis pursuant to an appropriate exemption from the registration requirements under applicable U.S. law, and outside of Canada and the United States on a private placement or equivalent basis. The Preliminary Prospectus is available on SEDAR+ at http://www.sedarplus.ca and may be obtained from Research Capital Corporation at ecm@researchcapital.com. The Preliminary Prospectus contains important information about the Company and the Offering. Prospective investors should read the Preliminary Prospectus and other documents the Company has filed before making an investment decision.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About TAG Oil Ltd.

TAG Oil (http://www.tagoil.com/) is a Canadian based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

For further information:

Toby Pierce, Chief Executive Officer
Phone: 1 604 609 3355

Email: info@tagoil.com
Website: http://www.tagoil.com/
LinkedIn: https://www.linkedin.com/company/tag-oil-ltd
X: https://twitter.com/tagoilltd

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

Forward-Looking Statements

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the completion of the Offering and the timing in respect thereof, the use of proceeds of the Offering, timely receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the proposed completion of a third party resource report.

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Such statements can generally, but not always, be identified by words such as “expects”, “plans”, “anticipates”, “intends”, “estimates”, “forecasts”, “schedules”, “prepares”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. All statements that describe the Company’s plans relating to operations and potential strategic opportunities are forward-looking statements under applicable securities laws. These statements address future events and conditions and are reliant on assumptions made by the Company’s management, and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could materially differ from those currently projected, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein. TAG Oil disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding TAG Oil’s business contained in TAG Oil’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on TAG Oil and the risks and challenges of its business, investors should review TAG Oil’s filings that are available at http://www.sedarplus.ca.

TAG Oil provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. The Company’s future success in exploiting and increasing its current reserve base will depend on its ability to develop its current properties and on its ability to discover and acquire properties or prospects that are capable of commercial production. However, there is no assurance that the Company’s future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas.

The MIL Network –

January 24, 2025

MIL-OSI USA: Remarks by Vice President Harris and Liz Cheney at a Campaign Event | Malvern, PA

US Senate News:

Source: The White House
People’s LightMalvern, Pennsylvania
11:54 A.M. EDT
     THE VICE PRESIDENT: Let’s get to it.
     MS. LONGWELL: Let’s do it. Let’s do it.
     THE VICE PRESIDENT: Good morning, everyone.
     AUDIENCE: Good morning.
     AUDIENCE MEMBER: Happy birthday!
     MS. LONGWELL: Oh, happy belated birthday. (Applause.) Oh, yeah.
THE VICE PRESIDENT: Thank you. Thank you. I appreciate that. Thank you.
     MS. LONGWELL: Audience members showing me up — that’s tough. (Laughter.)
Okay. So, I’ve got to start with the thing that brings us here today, because I’ve got to say it is unusual for somebody who was as high up in the Republican leadership as Liz Cheney was to be out here campaigning with the Democratic nominee for president.
And so, maybe — why don’t both of you tell us, but you start: You’ve actually marshaled unprecedented support from Republicans in this election. Why do you think that is?
THE VICE PRESIDENT: Thank you, Sarah. Thank you for being here and for your work. And the congresswoman, thank you.
I — I have said before and it must be repeated each time: There are moments in the history of our country which challenge us, each of us, to really decide do we stand for those things that we talk about, including, in particular, country over party. And you have been extraordinarily courageous in the way that you have done that. And I thank you for that. (Applause.)
So, you know, I have in my career now — whether it was as the elected district attorney, elected attorney general, and then elected United States senator, and, of course, now vice president — I’ve counted that I have taken the oath of office six times. And for the elected leaders here, we know it is an oath that one must take sincerely and unequivocally, which is an oath, among other things, to support and defend the Constitution of the United States and to understand what those principles represent and what they require of the individual who holds the office and the public trust.
And let’s not undervalue that point as well. It is not about the individual. It is not about what is in their personal interests. It is about what is for and in the spirit of the public good.
And this is a moment in this election that presents a real contrast among how I, as one of the two nominees, and my opponent, the former president, think of that duty. And it is a duty, by the way. There are certain things in our lives that we have the choice if we feel like it — (laughter) — and then there are certain things that are just fundamentally a duty, like to raise our children. Things of that nature. It is a duty to take seriously that oath and do it for the sake of the public good and in the public trust.
And I think that at this moment, with the choice that the American people have in this election in — in two weeks and one day, this election is presenting — for the first time, probably, in certainly recent history — a very clear choice and difference between the two nominees. And I think that is what, as much as anything, is bringing us, as Americans, together, who are understanding that we cannot, with such fundamental stakes being presented, afford to be mired in ideological differences without really staking our claim to the most fundamental ideals upon which our country stands.
MS. LONGWELL: Thank you. And, you know, Congresswoman Cheney, it’s a — sort of the same question to you. But I got to ask: You know, it’s one thing for Republicans to sign a letter. You know, we’ve seen that she has — Vice President Harris has been endorsed by 200 Republicans in the national security space, all kinds of people from George W. Bush’s administration. There’s been a lot of people — they’ll sign letters and maybe they’ll go on T.V., they’ll release a statement. I was just with Republican Congressman Charlie Dent — former Republican congressman here from the state. He voted for you in his early voting.
But you are out here campaigning. You are out here holding events. So, talk about why it’s been so important to you to be as involved as you are in getting Vice President Harris elected.
MS. CHENEY: Well, thank you so much, Sarah, for the question. And — and it’s an honor to be here today with you, Madam Vice President.
     You know — (applause) —
THE VICE PRESIDENT: Thank you.
MS. CHENEY: — for me, every — every single thing in — in my experience and in my background has — has played a part in my decision to endorse Vice President Harris.
And, you know, that — that begins with the fact that I’m a conservative, and I know that the most conservative of all conservative principles is being faithful to the Constitution. And you have to choose, in this race, between someone who has been faithful to the Constitution, who will be faithful, and Donald Trump, who it’s not just us predicting how he will act. We watched what he did after the last election. We watched what he did on January 6th.
And so, coming to this as someone who’s been a lifelong Republican, a lifelong conservative, also as someone who spent — I spent time working overseas before I was elected to Congress, and I’ve — I’ve spent time working in countries where people aren’t free and where people are struggling for their freedom, and I know how — how quickly democracies can unravel.
And I know that, as Americans, we can become accustomed to thinking, “Well, we don’t have to worry about that here.” But I tell you, again, as someone who has seen firsthand how quickly it can happen, that that is what’s on the ballot. That’s absolutely what’s on the ballot.
I also — I come to this decision as a mother. I have five children. And there was a moment right after January 6th when my husband and I were having dinner with our two youngest, our two sons, and I looked across the table at my — my young sons, and I thought to myself, “You know, in the aftermath of the attack on the Capitol, are they going to grow up in a country where we don’t have to worry about the peaceful transfer of power? Are they going to grow up in a country where that is guaranteed?”
And — and I believe that every one of us in this election has a duty and an obligation to do what we know is right for the country, and that’s to support Vice President Harris. So, I’m very honored to be here and to do that. (Applause.)
     THE VICE PRESIDENT: Thank you.
You know, if I can just echo the congresswoman’s point. So, I’ve now, as vice president, met over 150 world leaders — presidents, prime ministers, chancellors, and kings — many of them multiple times, to the point we’re on a first-name basis. And the last few times that I’ve seen them in the relative eve of this election, they are very concerned, our allies. Because, as you know, when we walk in those rooms around the world representing the United States of America, we have traditionally been able to walk in those rooms chin up, shoulders back, with the self-appointed and earned authority to talk about the importance of democracies and rule of law.
But as all the role models here know, as a role model, people watch what you do to see if it lines up with what you say. People around the world are watching this.
And I — I tell you, sometimes I do fret a bit about whether we, as Americans, truly understand how important we are to the world. I hope everyone does really understand that we represent something — imperfect though we certainly are; flawed though we may be — we represent, in terms of our ideals, the — the basis of our Constitution, we represent a gold standard.
And when we have someone who has been president, who wants to be president again, who is saying he would be dictator on day one, would weaponize our Department of Justice — one of the principles of our democracy is that we say we have a justice system that is blind, that is not punitive against one’s enemies, they are watching.
So, this is about direct impact on the American people, and it most certainly will impact people around the world.
MS. LONGWELL: You know, I’m so glad you brought that up. And I — I — as a follow-up, I would just ask Congressman Cheney too. We live in a dangerous time. I mean, I think Americans are watching what’s happening overseas in Ukraine, in Israel. Republicans — we used to be the party that would be on the side of our democratic allies like Ukraine.
Talk to me a little bit and all of us about why, from a foreign policy standpoint, you find yourself able to endorse Democrats, who w- — wouldn’t — it didn’t used to be that way.
MS. CHENEY: Well, it — it’s not just able to endorse them. But — but if you look at the numbers of the most senior officials who served Donald Trump — his own vice president; national security advisors; his chief of staff; you know, the — the leading generals who served him — who’ve all said he’s unfit, and people really need to stop and think about how completely unprecedented that is.
And the — the idea — when people sort of say, “Well, we might, you know, be tempted, for some reason or another, to vote for Donald Trump” — if the issue is foreign policy, I would just ask everyone: Think about how dangerous and damaging it is to have someone who’s totally erratic — totally erratic, completely unstable — someone who has aligned himself with, who idolizes tyrants. He idolizes tyrants.
You know, the — the — again, the choice here, with respect to national security policy, is a man who has proven — he has absolutely proven that he will not stand up, he won’t defend this nation with respect to our own Constitution and rule of law, and Vice President Harris, who has been clear in terms of support for Ukraine, in terms of recognizing and understanding across the board that America cannot maintain our own freedom and security if we walk away from our allies around the world.
And our adversaries know that they can play Donald Trump. They absolutely know that they can play him. And we simply can’t afford to take that risk.
So, as someone who has spent a career on national security issues — again, this was not at all a difficult choice for me — the — the choice here is absolutely clear in terms of the necessity of supporting Vice President Harris.
THE VICE PRESIDENT: And — and if I may emphasize, part of the backbone of our national security is our military. And let’s please not overlook how someone who wants to be commander in chief and was has talked about our servicemen and women; has talked about an American hero like John McCain, who was a prisoner of war — said he didn’t respect him, didn’t like him because he got caught; has talked about our service members as — as though they are less than the most courageous of us.
Those who put on the uniform, who represent the United States of America, who are willing to die for the sake of everything we stand for, and he calls them “suckers” and “losers.” These things cannot be overlooked.
And — and I have said many times publicly, and I’ll say it again: In many, many ways, Donald Trump is an unserious man, but the consequences of him being president of the United States are brutally serious. There are things that he says that will be the subject of skits and laughter and jokes, but words have meaning coming from someone who aspires to stand behind the seal of the president of the United States. These are the things that are at stake.
     MS. LONGWELL: Couldn’t agree more.
So, I do want to ask you another question, though, before we go to the audience. You know, you talk a lot about a new way forward. You talk about turning the page. What’s on the next page? Talk to us about a —
THE VICE PRESIDENT: You want a preview.
MS. LONGWELL: Yeah. Give me — a spoiler alert. You know? (Laughter.) Just —
THE VICE PRESIDENT: Right.
MS. LONGWELL: — tell us — tell us what’s — what’s in the rest of the chapter.
THE VICE PRESIDENT: Well, first of all, I will say that it — it is a metaphor that is meant to also describe my intention to embark on a new generation of leadership. And needless to say, mine will not be a continuation of the Biden administration. I bring to it my own ideas, my own experiences.
But it is also about moving past what, frankly, I think has been the last decade of — of the American discourse being influenced by Donald Trump in a way that has had the effect of suggesting we, as Americans, should point the finger at one another, in a way that has been using the power of the presidency to demean and to divide us.
I think people are exhausted with that, rightly. And it, frankly, does not lead to the strength of our nation to tell the American people that we must be suspicious of one another, distrust one another.
You know, yesterday, I — I did a couple of church services, and there’s a — we — many people here know the — the parable of the Good Samaritan. And there is an essence — a piece of that, in my own words, that really requires us, I think, to see in the face of a — of a stranger, to see a neighbor. Right? That spirit. And I think we need to get back to that.
The spirit of the American people is such that, you know, we are an ambitious people. We are aspirational. We have dreams. And that is productive.
It is not productive of us to be a nation of people who are pointing fingers at one another, who don’t understand that the vast majority of us have so much more in common than what separates us.
So, that’s what I mean about turning the page. And then a new generation of leadership about being ambitious, about all we have yet to do.
Part of my economic policy — I refer to it as an opportunity economy — is about investing in American industries while leaving none of our traditional, wonderful industries behind; repurposing and retooling the factories that have led to America’s success in industry, while at the same time redefining how we are thinking about which worker has the experience and skill to do the — the job and is qualified and understanding we shouldn’t be falling into a trap that suggests only those with a college degree have the skill or the experience to do the job. So, let’s look at how we redefine and perhaps even reorder.
And, in fact, I’m going to start with federal jobs, and then I’m going to challenge the private sector to do the same. Let’s look at which of those jobs would benefit from a skilled, experienced worker who perhaps went through an apprenticeship program — not a four-year college, but still had a four-year degree, in essence.
     So, these are the kinds of things that are about seeing the opportunity of this moment and investing in it.
     I’ll tell you — and I know this is a controversial topic for many of us — I love Gen Z. (Laughter.) Because we have Gen Zs in our lives. We have kids who are Gen Zs. It can be complicated, I know. I love Gen Z.
     These young leaders are so — they’re clear-eyed. You know, they’ve only known the climate crisis. They’ve only known active shooter drills. I mean, we had fire drills. Not — not our kids, right?
     But they also — they’re — they’re so wonderfully impatient — (laughter) — ri- — no, really, that’s good. That’s good. They are ready to get in there. Let’s invest in them. Let —
     So, for example, one of my — one piece of my opportunity economy is we got to deal with the reality of where we are right now. The American dream, for previous generations, was something that people could kind of count on. Not so much anymore, in terms of homeownership. We have a housing shortage in America. We have a supply shortage.
     So, part of my plan is, hey, let’s be clear-eyed about this moment. Let’s invest in the future. And as a — a devout public servant, I also know the limitations of government. I want to work with the private sector. I have, in my career. The skills, the breadth, the depth of — of value in those active partnerships benefit us all.
     So, part of my plan for housing is to actively partner with building developers, with homebuilders to create tax credits to increase the supply of housing in America. My estimate is — I think we can actually do it — by 3 million by the end of my first term.
     Part of my approach that is about a new generation, potentially, of leadership and certainly a different approach: Most of my career was not spent in Washington, D.C. I say that with pride. (Laughter.)
     In that, you know, most of my career was spent as a prosecutor, but I — making decisions that had a direct impact on people’s lives. You know, I learned at a very young age, as a prosecutor, that the things that I would do with the swipe of my pen could result in someone having their liberty or not.
     When I was attorney general of California — which is, you know, by estimates, the fifth-largest economy in the world — I was acutely aware the words I spoke could move markets.
     I like getting things done. And part of my approach, which is, I think, about a new generation of leadership, is: Let’s cut through the red tape. Let’s cut through the bureaucracy while still knowing the virtues of the work that we can do in the public sector, be it public education, public health, public safety.
     MS. LONGWELL: This is a perfect segue into our first audience question, which is going to come from Alexandra Miller from Delaware County. Main section, right — right there.
     Hi, Alexandra.
     Q    Hello. Hello, Madam Vice President and Representative Cheney.
     MS. CHENEY: Hi there.
     THE VICE PRESIDENT: Hi.
     Q    Thank you for taking my question today. My name is Alex. I have a 7-year-old son and a wonderful 72-year-old mother who is suffering from dementia and requires full-time care.
     My son is in second grade, my mother is in a nursing home, and I work full time. The costs of childcare and of eldercare are staggering. But simultaneously, professionals that help care for both our children and our elders are generally underpaid, which makes it difficult for them to support their own families and do the jobs that they need to do.
     How do you propose to help bridge this gap, making both child- and eldercare more affordable for hardworking families and also retaining and attracting quality talent for this — these essential jobs?
     THE VICE PRESIDENT: So, first of all, you’re dealing with a lot. You’re dealing with a lot, and I just wish you strength and support. You are a part of what we call the “sandwich generation,” which are those parents and children who are right in the middle. They are taking care of their young children and taking care of their parents as they age. And it’s a lot.
     And so, I actually plan to address this in a substantial way because I actually bring a personal experience to it as well. I took care of my mother when she was sick, and that work is the work of trying to cook something that they feel like eating — right? — trying to figure out which clothes will not irritate their skin and help them put on a sweater. It’s about trying to figure out how you can say something that brings a smile to their face or makes them laugh. It’s about dignity.
     Meanwhile, you have a second-grader. You’re trying to teach that kid how to read — (laughter) — spending time with them, reminding them they are special and can be anything.
     And in the middle of all of that, if you are working or just to have a minute to breathe, it’s a lot. It’s a lot.
     So, what — the way that this plays out for many people is — is one of just a couple of ways. One, if you have the good fortune of having enough extra money, you can hire somebody to come in. And then, exactly as you said, you — knowing what you just shared with us about yourself — would pay them the value of their work. Or someone in this position would have to basically spend down all their savings so they could qualify for Medicaid, which means they pretty much have to get rid of everything. Or they have to quit their job, which means one less income in their household.
     And this is a matter — this issue, for me, is a matter of dignity — yours, your parents, and the well-being of your child and you being able to do what you naturally want to do, and which — and the thing that we should value in our society, which is someone like you who is taking on the duty and the responsibility of all of that.
     So, my plan is that instead of those scenarios I just mapped out, we will restructure it so that Medicare covers the cost of in-home health care for your parent so that they can be at home — (applause) — and you can then have the assistance with someone who can help prepare that meal, help them get dressed, and you can still give that baby of yours all the love that they deserve. And you can have sanity in the process. And everyone can have dignity.
     And so, this is — this is my approach, which is let’s just look at this as an — let’s just come at it from common sense, by the way. It’s just common sense. And what makes — what is a — a commonsense, practical approach to doing this, because when you are able to be productive, we all benefit, by the way. When that child is able to have a parent who is able to help them with their reading and remind that child that they are special, we are all going to benefit from that.
     So, thank you for raising the subject. (Applause.) And you take care of yourself.
     MS. LONGWELL: Okay. Next we’re going to call on Ashley Scott, speaking of Gen Z — although I guess I shouldn’t assume I know what generation she’s from, but she is a student from Bucks County. Hi.
     Q    Hi, Vice President Harris and Congresswoman Cheney. My name is Ashley Scott. I’m from Bucks County, Pennsylvania, and I am Gen Z. I’m 22 years old. (Laughter.)
     MS. LONGWELL: Nailed it.
     THE VICE PRESIDENT: Good for you. (Laughs.)
     Q    So, thank you for that compliment. But yeah, my question is about maternal health. Specifically, in the United States, maternal mortality is devastating. The rates are terrible. And I was wondering if you have a plan to combat the crisis.
     THE VICE PRESIDENT: Thank you, Ashley, and thank you for being here and your voice. It’s a big issue. So, we have the very, I think, shameful distinction of — of any wealthy nation having one of, if not the highest, rate of maternal mortality.
     And I’ve studied this issue. I worked on it was on — when I was in the United States Senate and as vice president. And the fact is that 90 percent of them are preventable, which tells us we can do something about it, right?
     And it is an issue — so, Black women are three to four times more likely to die in connection with childbirth; Native women are, like, twice as likely; rural women, one and a half times as likely.
     One of the common threads that you will see in those demographic populations is a lack of appropriate prenatal care and then care during the term of their pregnancy and then postpartum care. And we know that when that care is available, they are having a healthier and, by the way, happier experience. And the long-term impact to all of us as a society, much less to that family, is immense.
     And so, the work that we have been doing and the work I intend to do going forward is to address that, right? So, for example, in rural America, the — the way that the system has been structured — the health care system has been structured is a lot of those hospitals and clinics have had to close because of the way we — we reimburse based on population size. And as people are leaving rural America, then the hospitals and the clinics can’t afford the overhead.
     I’m oversimplifying but just to make the point. So, we need to address that in terms of how we’re structuring, how we create incentives and — and give the resources to those health care facilities, be they clinics or hospitals.
     The other piece that we have to do is really just talk more about the issue around also how, in the health care system, we are treating women and are we taking women seriously when they talk about their health care concerns.
     So, again, personal experience, my mother had two goals in her life: to raise her two daughters, my sister and I, and to end breast cancer. My mother was a breast cancer researcher. And she was so passionate about women’s health care, and I remember it as a young girl and throughout my life.
     And we still have a lot of work to do to make sure that when she walks into that clinic, that doctor’s office, that hospital, that when — that she’s taken seriously. And — and that’s also about what we do in terms of training within the profession. It’s also about what we do in terms of public education to get information to women so that they know that they are not just complaining and they should not suppress or subordinate what their concerns might be about themselves because they’re taking care of everybody else.
     So, there’s a lot of work to do. And, of course, there’s a connection between this and what we need to do since the Dobbs decision came down, when we are looking at — I’ve met with a lot of, in particular, OB-GYNs who are concerned that there are kids going through — excuse me, young people going through their medical school who are now feeling deterred from engaging in reproductive health work.
     And reproductive health work is vast. It is not only about abortion; it is about a whole array of care. And we want to make sure that we’re not creating disincentives for people to go into that very, very important profession.
     And then we also want to make sure that we are, in the whole issue of reproductive care, not suggesting to women or the people who love them that they should be judged, because there is that also when you’re talking about reproductive care, where women sometimes are made to feel or do feel embarrassed to talk about their needs as it relates to their reproductive health.
     And then, of course, I feel very strongly the government should not be telling any woman what to do with her body. (Applause.) (Laughs.) And when Congress passes a law reinstating the reproductive freedoms of women, I will gladly and proudly sign it into law, because I strongly believe one does not have to give up or abandon their own faith or beliefs to agree that — not the government telling her what to do. If she chooses, she will consult with her priest, her pastor, her rabbi, her imam, but not the government.
     We’ve seen too much harm — real harm — happen to women and the people who love them around our country since that decision came down, including women who have died. And I don’t think that most people who — before the Dobbs decision came down — who had strong opinions about this — I don’t think most people intended that the harm that we’ve seen would have actually happened.
     MS. CHENEY: Can I add to this just to — because I — I think it’s such an important point. And I think there are many of us around the country who have been pro-life but who have watched what’s going on in our states since the Dobbs decision and have watched state legislatures put in place laws that are resulting in women not getting the care they need.
     And so, I think this — this is not an issue that we’re seeing break down across party lines —
     THE VICE PRESIDENT: Right.
     MS. CHENEY: — but I think we’re seeing people come together to say what has happened to women, when women are facing situations where they can’t get the care they need — where in places like Texas, for example, the attorney general is talking about suing — is suing to get access to women’s medical records — that’s not sustainable for us as — as a country, and — and it has to change. (Applause.)
     THE VICE PRESIDENT: Yeah. Yeah.
     MS. LONGWELL: So, as we come close to time here, I want to ask you both kind of a final question. You know, I — I watch the — the conversation in the country and the way that the media covers this election, and it’s often about the race: Who’s up in a poll? Who’s down in a poll? And I — I don’t always feel like we’re talking about the stakes enough.
     And Liz Cheney would not be here if she didn’t think that the stakes were very high. And frankly, the Republicans wouldn’t be so angry at you if they didn’t think you were an effective surrogate as somebody speaking about the stakes. (Applause.)
     THE VICE PRESIDENT: Some Republicans. Some Republicans.
     MS. LONGWELL: Some Republicans. Some Republicans. #NotAllRepublicans. (Laughter.)
     THE VICE PRESIDENT: Because I’ve seen a lot of Republicans — just I’ve seen it and I know it happens — who thank her constantly.
     MS. LONGWELL: I — I know it.
     THE VICE PRESIDENT: Yeah. Yeah.
     MS. LONGWELL: I know it.
     MS. CHENEY: They’re going to vote the right way on November 5th.
     MS. LONGWELL: That’s right.
     MS. CHENEY: They might not think public about it, but — but they’ll do what — what they know is right. (Applause.)
     THE VICE PRESIDENT: Yeah. I agree. I agree. I agree.
     MS. LONGWELL: But just to close and — and maybe starting with you, Congresswoman, so you can have the last word. Talk to me and all of us about the stakes. Many people in the room here are undecided voters. What’s — what’s kind of the last pitch that you would make about why this election is so important and why you believe they should vote for the vice president here?
     MS. CHENEY: Well, I think that in this election, and especially here in Pennsylvania, we have the opportunity to tell the whole world who we are. And we have the chance to say, you know, we’re — we’re going to reject cruelty. We’re going to reject the kind of vile vitriol that we’ve seen from Donald Trump. We’re going to reject the misogyny that we’ve seen from Donald Trump and J.D. Vance. (Applause.)
     THE VICE PRESIDENT: Right.
     MS. CHENEY: And we have the chance in this race to elect somebody who you know is going to defend the rule of law. You know Vice President Harris is going to defend our Constitution.
     We have the chance to remind people that we are a good country. We are a good and honorable people. We are a great nation.
     And — and in this race, we have the opportunity to vote for and support somebody you can count on.
     We’re not always going to agree, but I know Vice President Harris will always do what she believes is right for this country. She has a sincere heart, and that’s why I’m honored to be here and supporting her in this race. (Applause.)
     THE VICE PRESIDENT: I mean, I — exactly. The — listen, so, in my career as a prosecutor — you’ve heard me say this — I — I never, ever asked a victim or a witness, “Are you a Republican or a Democrat?” Never. It wouldn’t have even occurred to me to ask them. I did, every time, ask, “Are you okay?”
     And I — you know, and I feel very strongly that — for example, in — on the issue of partisanship, yes, we’re going to have disagreements, but I actively invite good ideas from wherever they come. That’s why I’m going to have a Republican in my Cabinet, by the way — (applause) — because I want good ideas.
     And, by the way, I know it is in our best interest as a nation, in our — the interest of our strength and our future as a nation. We need a healthy two-party system. We need a healthy two-party system. (Applause.)
     We need to be able to have these good, intense debates about issues that are grounded in fact. (Laughter.) How about that?
     MS. CHENEY: Imagine.
.
     THE VICE PRESIDENT: Let’s start there. (Laughs.) (Applause.)
     Wow. Can you believe that’s an applause line? (Laughter.)
     Oy. But, you know, it’s — (laughter) — it’s —
     We have in our grasp in these next 13 days — 13 days, we are — or 15 days, excuse me. I — I’m just jumping ahead. (Laughter.) In these next 15 days, we have in our grasp the ability to determine the course of our country.
     You know, every election, we’ve said, “This is the one.” This is the one. This truly is the one.
     I mean, to the congresswoman’s point, the former chairman of the Joint Chiefs of Staff referred to Donald Trump as being “fascist to the core.” And no one would ever accuse the former chairman of being partisan in any way. The people who know him best — from the former chief of staff; Defense secretaries, two of them; national security advisor to the former vice president.
     And so, we have in — in our grasp — because we still have a democracy. As the saying goes, as long as we hold on to it, we still have a democracy, which means in a democracy — and here’s the beauty of it — we each have the power to make a decision about the future of our country through our vote.
     And my request, then, of each of you who have spent time out of your busy lives to be here — and I thank you for that — is please just help us get the word out to your neighbors and friends and family members to just remind them of what is at stake and this conversation.
     I ask for your vote. I ask for their votes. And I promise to be a president for all Americans. I promise and pledge that. (Applause.)
     MS. LONGWELL: All right, everyone. Congresswoman Cheney and Vice President Kamala Harris. Thank you so much.
     Yes, let’s give them another round of applause. That was wonderful. (Applause.)
     Thank you so much.
     THE VICE PRESIDENT: Thank you. Thank you.
     MS. LONGWELL: Thank you. (Applause.)

MIL OSI USA News –

January 24, 2025

MIL-OSI United Nations: UN Peacekeeping marks 25 years of protecting civilians as record levels of conflict highlight growing need

Source: United Nations – Peacekeeping

Written by the UN Peacekeeping’s Protection of Civilians (POC) team in the Division of Policy, Evaluation and Training (DPET) at UN headquarters in New York. The team provides resources, expertise and support to UN peacekeeping missions, UN member states and bodies such as the Security Council, and other stakeholders working to protect civilians in conflict.

Twenty-five years ago, the United Nations Security Council decided that the protection of civilians (POC) in armed conflict was an issue of international peace and security, and it tasked the UN Mission in Sierra Leone (UNAMSIL) with the first explicit mandate to protect civilians from threats of physical violence. Prior to this, peacekeeping missions helped protect populations through key activities like monitoring ceasefires, disarming combatants, and supporting peace negotiations, but were not authorized by the Security Council to intervene with force to protect populations.

This was a groundbreaking step, establishing the protection of civilians as a core responsibility for UN peacekeeping missions operating in conflict zones. Today, this role remains critical, as conflicts have surged globally, with catastrophic effects on civilian populations, including an alarming 72 percent rise in civilian deaths in 2023 alone.

National state authorities are responsible for protecting the population in their territory, and peacekeepers support them to do so. However, in some peacekeeping contexts where host states are unwilling or unable to fully meet this responsibility, the Security Council empowers peacekeepers to step in. In these cases, peacekeeping missions are authorized to prevent and stop threats of physical violence against civilians, including through the use of force when needed.

In missions with a POC mandate, all peacekeepers – civilian, police and military – are responsible for protecting civilians. They coordinate with each other as well as with local authorities and UN staff outside the mission. And while peacekeepers are not resourced to protect all populations at all times, peacekeeping missions use all their available tools to prevent conflict before it starts and protect those most at risk from violence.

Over the past 25 years, the POC mandate has become a cornerstone of UN peacekeeping operations, shaping how missions prevent and respond to violence against civilians. Sixteen peacekeeping missions have been mandated to protect civilians, including five missions deployed today in the Central African Republic (MINUSCA), the Democratic Republic of the Congo (MONUSCO), Lebanon (UNIFIL), Abyei (UNISFA), and South Sudan (UNMISS).

To commemorate this 25-year journey, UN peacekeeping is launching the Profiles in POC campaign that will, over the next few months, share a collection of personal stories and reflections showcasing POC efforts on the front lines. The series traces the evolution of the mandate from its inception in 1999 to the present day. From field operations in conflict-affected areas to strategic decision-making at the UN Security Council, the stories capture the breadth of contributions from those advancing the POC mandate. Each profile reveals a unique narrative, shedding light on the challenges, successes, and lessons learned in ongoing efforts to protect civilians from the violence of war.

The stories honour the commitment of all those working to uphold the POC mandate and remind us of the immense dedication and resilience of peacekeepers, uniformed and civilian, and peacekeeping stakeholders.

As we reflect on 25 years of progress, we invite you to explore these profiles and learn more about the people behind the mandate who work tirelessly to protect civilians and promote peace amidst some of the world’s most challenging conflicts.

Visit the protection of civilians website to read the profiles as they are posted.

MIL OSI United Nations News –

January 24, 2025

MIL-OSI USA: Lee, 64 House Democrats Write to Biden Administration Urging Unimpeded Media Access to Gaza

Source: United States House of Representatives – Congresswoman Barbara Lee 13th District of California

October 21, 2024

Members asking Biden Administration to take immediate action to advocate for unrestricted, unimpeded media access

*Full Text of Letter (PDF)*

WASHINGTON, D.C.— Representative Barbara Lee (D-CA), has joined 64 of her colleagues including Representative James McGovern (D-MA), in a letter to President Joseph Biden and Secretary of State Antony Blinken calling for the United States to push for Israel to allow unimpeded access for U.S. and international journalists. The constantly shifting dynamics on the ground inside Gaza make unimpeded press access more urgent than ever.

“The restrictions on media reporting have created significant challenges in obtaining accurate, verifiable information from Gaza, leading to increased skepticism about the limited reports that do emerge. At a time when reliable information is more critical than ever, the restrictions on foreign reporting undermine the very foundation of press freedom and democratic accountability,” wrote the members.

In July, over 70 media and civil society organizations signed an open letter calling on Israel to grant journalists access to Gaza. Yet foreign media remains largely prohibited from entering the region, except for a few controlled trips arranged by the Israeli military. This effective ban on foreign reporting has placed an overwhelming burden on local journalists who are documenting the war they are living through. Tragically, at least 130 journalists have lost their lives since the start of the war, and those who remain face conditions of extreme hardship and danger.

The International Federation of Journalists has reported that the mortality rate for media workers in Gaza is over 10%. Seventy-five percent of all reporters killed worldwide in 2023 lost their lives between October 7 and the end of the year.4 In December 2023, just two months into the conflict, the Committee to Protect Journalists declared Gaza the “most dangerous ever” war zone for reporters. These staggering statistics underscore the critical importance of allowing independent journalists to document and report from the ground.

“We urge the administration to take immediate action to advocate for unrestricted, independent media access to Gaza. A free press is essential to ensuring that the world can bear witness to the realities on the ground and hold all parties accountable,” conclude the members.

In addition to McGovern, the letter was signed by Representatives Lloyd Doggett (TX-35), André Carson (IN-07), Nydia M. Velázquez (NY-07), Raúl M. Grijalva (AZ-03), Betty McCollum (MN-04), Delia C. Ramirez (IL-03), Eleanor Holmes Norton (DC-00), Mark Pocan (WI-02), Maxine Waters (CA-43), Rashida Tlaib (MI-12), Bonnie Watson Coleman (NJ-12), Stephen F. Lynch (MA-08), Ilhan Omar (MN-05), Seth Magaziner (RI-02), Jamaal Bowman, Ed.D. (NY-16), Alma S. Adams, Ph.D. (NC-12), Greg Casar (TX-35), John Garamendi (CA-08), Gerald E. Connolly (VA-11), J. Luis Correa (CA-46), Pramila Jayapal (WA-07), Veronica Escobar (TX-16), Sean Casten (IL-06), Chellie Pingree (ME-01), Jesús G. “Chuy” García (IL-04), Cori Bush (MO-01), Jamie Raskin (MD-08), Linda T. Sánchez (CA-38), Jan Schakowsky (IL-09), Emanuel Cleaver, II (MO-05), Daniel T. Kildee (MI-08), Mark DeSaulnier (CA-10), Danny K. Davis (IL-07), Jonathan L. Jackson (IL-01), Donald S. Beyer Jr. (VA-08), Maxwell Alejandro Frost (FL-10), Rosa L. DeLauro (CT-03), Alexandria Ocasio-Cortez (NY-14), Seth Moulton (MA-06), Paul D. Tonko (NY-20), Jared Huffman (CA-02), Ayanna Pressley (MA-07), Al Green (TX-09), Summer L. Lee (PA-12), Jill Tokuda (HI-02), Becca Balint (VT-AL), Steve Cohen (TN-09), Lori Trahan (MA-03), Eric Swalwell (CA-15), Melanie Stansbury (NM-01), Andy Kim (NJ-03), Val Hoyle (OR-04), Zoe Lofgren (CA-18), Mark Takano (CA-39), Jason Crow (CO-06), Madeleine Dean (PA-04), Lauren Underwood (IL-14), Julia Brownley (CA-26), Gabe Amo (RI-01), John B. Larson (CT-01), Sylvia R. Garcia (TX-29), Nikema Williams (GA-05), and Dwight Evans (PA-03).

To read the full letter, click here.

MIL OSI USA News –

January 24, 2025

MIL-OSI USA: ICYMI: U.S. News highlights Senator Coons’ efforts to support returned American hostages and wrongful detainees

US Senate News:

Source: United States Senator for Delaware Christopher Coons

WASHINGTON – In case you missed it, U.S. News & World Report’s Olivier Knox devoted his “Decision Points” column to U.S. Senator Chris Coons’ (D-Del.) package of legislation to make American hostages and wrongful detainees financially whole after their return home. The column focused primarily on his Stop Tax Penalties on American Hostages Act, which would end the IRS’ practice of charging fines and late fees for non-payment of taxes on hostages and wrongful detainees while they are unjustly held abroad.

As Knox lays out, Senator Coons was inspired to take action after speaking with Jason Rezaian, a Washington Post reporter who was wrongfully detained for 544 days in Iran’s Evin Prison. When Rezaian returned to the United States, he faced financial stressors – a tanked credit score and a $21,000 IRS bill – because the government’s current system lacks provisions for those held hostage overseas.

In response, Senator Coons introduced his bipartisan Stop Tax Penalties on American Hostages Act with Senator Mike Rounds (R-S.D.), which would stop the IRS from charging fines and late fees to hostages and wrongful detainees for failing to pay their federal taxes while being held unjustly abroad. Additionally, Senator Coons has also introduced the Fair Credit for American Hostages Act with Senator Thom Tillis (R-N.C.), which would empower former hostages and detainees to restore credit scores that may have been negatively impacted during their detention. His Retirement Security for American Hostages Act with Senator Bill Cassidy, M.D. (R-La.) would ensure that hostages and wrongful detainees aren’t penalized in the calculation of their Social Security benefits.

Last month, Senator Coons also published an op-ed in The Wall Street Journal highlighting his work on these bills and his advocacy for American hostages and wrongful detainees.

U.S. News: A Different Kind of Crisis for Released American Hostages

Enter Sen. Chris Coons, a Delaware Democrat who holds the seat filled for decades by President Joe Biden, and a member of the Senate Foreign Relations Committee. Coons, who says he’s been interested in the plight of Americans detained overseas since he was a Capitol Hill intern decades ago and met the parent of a young U.S. citizen imprisoned abroad, has introduced a suite of legislation aimed at helping wrongful detainees.

…

“I started with a simple proposition that if you’re released after wrongful detention, you shouldn’t have to pay late fines and fees to the IRS,” Coons says.

The senator credits Rezaian with the idea for the tax bill and Paul Whelan – the 54-year-old former U.S. Marine arrested in Russia in December 2018 and held until he was freed in a prisoner swap in August – with the Social Security idea. In addition to Whelan, Coons has met with Vladimir Kara-Murza and Evan Gershkovich, who were also freed in that exchange, and with other Americans unjustly held abroad.

…

“There’s some disagreement between the House and Senate about passing a clean bill,” Coons says. “I really hope we’ll just pass the clean bill on both sides and send it to the President’s desk.”

MIL OSI USA News –

January 24, 2025

MIL-OSI China: Israel claims major blow to Hezbollah’s rocket capabilities, financial network

Source: China State Council Information Office

Israel’s military said on Monday that it had destroyed about 70 percent of Hezbollah’s rocket capabilities, dismantled parts of its financial network, and killed a senior Hezbollah official in Syria who oversaw the group’s money transfers.

In a statement, the Israel Defense Forces (IDF) said that it had killed seven Hezbollah brigade commanders, 21 battalion commanders, and 24 company commanders.

The IDF added that since the beginning of its ground offensive in Lebanon in early October, it had struck more than 3,200 sites in the country, including hundreds of weapons storage facilities, rocket launchers, anti-tank positions, and command and control centers.

Roughly 300 of those targets were hit in the last 24 hours alone, according to the military.

Citing senior security officials, Israel’s Channel 13 TV news reported that Hezbollah retains about 30 percent of its rocket capabilities, a significant reduction from the beginning of the conflict in October.

Later in a press briefing, IDF spokesman Daniel Hagari said Israeli warplanes had bombed around 20 Hezbollah sites linked with financial network overnight from Sunday to Monday, with most of the strikes focused on Beirut. The strikes, Hagari said, are expected to resume tonight.

Among the targets was an underground warehouse belonging to the Al-Qard Al-Hasan Association, a Hezbollah-affiliated financial organization operating primarily in Lebanon with headquarters in Beirut’s southern suburb, where Hezbollah’s headquarters are located.

According to Hagari, Hezbollah had stockpiled cash and gold worth “tens of millions of dollars, intended for living expenses and post-war reconstruction” in this underground warehouse.

Hagari also said that under Al-Sahel Hospital, in Beirut’s southern suburb, Hezbollah had built an underground bunker storing “at least half a billion dollars in cash and gold.”

The bunker, described as a central financial hub, was not struck, but Hagari warned that Israeli aircraft were monitoring the site closely. “We will continue to track it,” he added.

According to the spokesman, Hezbollah has established a financial network involving Yemen, Lebanon, Türkiye, and Syria. The network was managed by Mohammad Jaafar Qasir and Sheikh Salah, the head of Unit 4400, which is responsible for financial transfers and the financial management of Hezbollah.

Qasir was killed by Israel in Beirut in early October, and according to Hagari, his successor was also killed in an Israeli airstrike in Syria on Monday.

The crackdown on Hezbollah’s financial network, Hagari added, aims to “deal a blow to its primary financial centers, making it difficult for the group to restore its capabilities.”

Also on Monday, Israeli Defense Minister Yoav Gallant signed an order designating the Al-Qard Al-Hasan Association as a terrorist organization. The decision, Gallant said in a statement, was due to “the financing of terrorism through the purchase of weapons, payment of salaries to terrorists, and the storage of Hezbollah funds within the association’s facilities.”

The confrontation between the Israeli army and Hezbollah, since its onset on Oct. 8, 2023, has killed more than 2,300 people, injured over 11,000 others, and displaced about 1.2 million residents in Lebanon, according to Lebanese authorities.

MIL OSI China News –

January 24, 2025

MIL-OSI NGOs: Yanette: My sister was forcibly disappeared by the Colombian military

Source: Amnesty International –

Yanette Bautista was just 27 when her sister Nydia was forcibly disappeared in 1987. Three years later, Yanette found Nydia’s remains – she had been murdered by state authorities and her whereabouts concealed to her family. It was the first time she learnt about enforced disappearances, an issue that is rife in Colombia – even today – with an estimated 200,000 people disappeared between 1985 and 2016 according to the 2022 Final Report of Colombia’s Truth Commission.

Since her sister’s enforced disappearance, Yanette, now 66, has dedicated her life to supporting Colombian women to search for their loved ones without fear. She has set up her own organization, as well as spearheaded a new bill that became a law in 2024, calling for better protection for women searchers. In honour of the bill, Colombia has recently introduced International Women’s Searchers Day, which takes place on 23 October.

Here she tells her incredible story, spanning three decades…

I found my sister three years after she was taken away and disappeared. I knew it was her. She was wearing the same clothes she had on the day she disappeared. It had been a day of celebration, the day our children received their first communion. When we found Nydia, she was still wearing the same dress and a jacket I had lent her. The only thing missing was her underwear. There was no reason for her underwear to be missing. I had to beg the authorities to hand her body over. I even threatened to go on hunger strike. When they eventually agreed to give me Nydia’s body, they handed it over in a trash bag.

My sister was forcibly disappeared when I was 27. At the time, I didn’t know enforced disappearances existed. She was studying economics at university. We knew she was part of an opposition guerrilla group, M-19, that signed a peace agreement and became a legal political party a couple of years later. We thought that the worst that could happen was for her to be sent to jail by a judge for her political activities. It felt shocking to learn that we lived in a country where there was a huge lack of human rights. If you supported the opposition, you paid for it. It was a situation of desperation and confusion.

My father and I started searching together – we went to hospitals, to military brigades, to the police intelligence, the secret police and the jails to see what could have happened. It was dangerous from the beginning as I started to be threatened many times just for asking for her. Eventually I was forcibly displaced. I left my home, sent my children to live elsewhere and I moved to another location. I soon started receiving anonymous calls. On one occasion, someone said: ‘Don’t look for her, she’s fine.’ It wasn’t a comforting call, and I knew I had to continue searching.

Yanette Bautista is the founder of Nydia Erika Bautista Foundation, created to fight against impunity in enforced disappearance in Colombia.

I sought help from the Colombian NGO Committee for Solidarity with Political Prisoners (CSPP) and we were provided with legal assistance, while the Association of Family Members of Disappeared Detainees (ASFADDES) shared advice. While I searched for my sister, I started working with other families and we eventually got in touch with Colombia’s Inspector for Human Rights – he was determined to help. He somehow found a witness who claimed to know where Nydia was. By that point I didn’t have hope we would find her alive. I’d come to realize that those searching for their loved ones, were searching for people who had been murdered.

A case was opened, and the well-known lawyer Eduardo Umaña took it on. I was told the witness was part of the Colombian military. He wanted to confess and said Nydia had been murdered and was buried in a rural town near Bogota. Together, with the inspector, forensic experts and our lawyer, we exhumed the body. I immediately knew it was her, even though she had been buried under NN (No Name).

Life changed dramatically

After Nydia disappeared, my life changed. I used to be an executive secretary for an important CEO, but it felt artificial after I started searching. I found it impossible to continue in this bubble, while people were being forcibly disappeared. That’s why I took off my heels and put on my shoes so I could start searching.

After my sister disappeared, life changed. So I took off my heels and put on my shoes so I could start searching for her.

Yanette Baustista

Even though we found Nydia’s body, we have never got the justice we deserve. The inspector for human rights sanctioned in 1995 one general and four military officials – a first in our country. However, two months later, he had to flee because he started receiving threats. During that time, I was calling for a change in law, speaking out about the military – and I was eight months pregnant. I was under constant surveillance. Eventually the four sanctioned men were set free even though it was clear it was the military committing these crimes.

By this time, it was too dangerous for me to stay in Colombia. Following a trip to Germany I just couldn’t come home. In 1997, I was forced into exile for seven years. During this time, I worked for Amnesty International, writing and researching about violence against women. I also became President of Federation of Family Members of Disappeared Persons (FEDEFAM), working with victims of forced disappeared in different countries.

Returning home

When I eventually returned to Colombia in 2007, I started my own organization. I’d met people from the Philippines, Albania, Kosovo, Turkey. We had so much collective knowledge. I wanted to empower families to search for their loved ones, so we started our organisation in my living room, with a small group of families.

Our collective, Nydia Erika Bautista Foundation, is designed for women to help one another. There’s no hierarchy. It is an exchange of knowledge. We provide legal support, document stories and advocate. We have a leadership school to empower the women searching in different parts of the country. We work in eight regions of Colombia and we are supporting 519 cases.

Our collective is mostly women – our research has revealed 95% of those searching for their loved ones are women – they’re mothers, sisters and wives. In a patriarchal society, it’s a task handed to the caregivers. But to me, we’re more than caregivers. When women start searching, we become human rights defenders – searching fearlessly, we challenge the rules of silence and oppression imposed by those who disappeared our loved ones, and we end up defending the rights of everyone.

Yanette leads a workshop with women searchers in Bogotá, Colombia.

The women who search are incredibly brave, even though there is no support from the authorities and no political will to investigate these crimes. In fact, enforced disappearance isn’t seen as a crime – it’s normalized; sometimes it’s even justified by the Colombian authorities.

Moving forward

As a collective, we want to turn our pain into rights. That’s why we wrote a law in a bid to empower women searching for the forcibly disappeared and to promote the rights of these women. It was signed into law in 2024.

However, our next task is to ensure it is implemented and becomes a reality. We have so many allies supporting us, including Amnesty International, and it is spurring us on every day.

While I have hope going forward, advocating for this law brings fear. As I continue to call for change, enforced disappearances are continuing, women searchers are suffering violence, and our funds are decreasing – making our work even tougher.

However, in my darker moments, I remember Nydia. Nydia dreamt of an army of women, who were armed with voices, not guns. I am determined to pursue her dream, so women can search without fear of suffering violence or of not having food at their family’s table, so women can search with freedom and dignity.

This piece is part of Amnesty International’s new campaign #SearchingWithoutFear, supporting women across the Americas searching for their loved ones.

MIL OSI NGO –

January 24, 2025

MIL-OSI USA: Remarks as Prepared for Delivery by Dr. Liz Sherwood-Randall for the Eradicate Hate Global Summit | Pittsburgh, PA

US Senate News:

Source: The White House
Pittsburgh, Pennsylvania
Thank you to each of the speakers, including the survivors, who preceded me. You are each both humbling and inspiring, and I am deeply grateful to have listened to what you have shared with us.
It is an honor to be here with you at the fourth convening of the Eradicate Hate Global Summit.
Thank you, Brette for your generous words — and thank you for taking on this vital leadership role.
The Summit has convened thousands of experts and developed multiple innovative approaches – including the “Up End Hate” campaign that empowers young people to prevent violence. And that is just the most recent example of the impact this solutions-oriented Summit has delivered.
Sunday, October 27th, will mark the sixth anniversary of the horrific day when a white supremacist who hated Jews and immigrants went to the Tree of Life synagogue here in Pittsburgh and attacked the innocent human beings who were worshipping during morning Shabbat services.
He murdered eleven people that day, robbing the world of their futures.
For each of them, their loved ones still grieve, and in solidarity we each can say: May their memories be a blessing.
The phrase is a resonant and powerful one. It invites us all not just to remember those we have lost, but to honor them by continuing to pursue justice and heal our broken world in their names.
Looking at this week’s agenda and each of you in this room, remembering them is indeed proving to be a blessing, by motivating this hard work to translate ideas into action.
In the aftermath of that terrible and tragic day, this community and this city have shown that an act of terror should and can unite us rather than divide us. In the Summit, you have shown the world how you have taken the emotions and prayers that arose and the actions you are undertaking and channeled them into meaningful deeds.
It is in that spirit of moving from hope to action that I come to you today.
I will speak to you about three topics: the threat we face now, the responses we are pursuing to address that threat, and the actions we are taking to reduce that threat in the future.
First, we unfortunately have to acknowledge that current forms of domestic terrorism and hate have fueled a dynamic threat landscape that is even more daunting following the savage Hamas attack on Israel one year ago and its ongoing aftermath.
These threats present a new set of challenges that we must do everything we can to prevent, to disrupt, and to prepare for if they cannot be stopped.
Indeed, the Biden-Harris Administration’s response to hate and domestic terrorism is outlined in a series of innovative strategies and implementation plans that harness the full force of the Federal government of the United States.
But critically, they depend on intensive, enduring cooperation with civic, religious, private sector and international partners like you to generate a comprehensive response.
And although it may not feel that way every day, this model is delivering results. I am the first to admit that the challenges are immense, and even growing. But I also fervently believe that combining our full strengths, we can come together to make a difference.
The Normalization of Hate and Violence
Let me begin with the threat landscape: As the White House Homeland Security Advisor over the past four years, I have seen firsthand that a fundamental threat to our democracy is the normalization of hate-fueled violence.
Domestic terrorist movements, including racially and ethnically motivated violent extremists, continue to advocate for widespread violence on the premise that it would lead to outcomes they seek, including chaos and societal collapse among other dystopian ends.
These dark minds celebrate attacks in El Paso, Buffalo, Poway, Colorado Springs, Charleston, and yes, just east of here, in Squirrel Hill — as well as numerous attacks abroad that they ascribe to their twisted worldview.
The proliferation of these ideologies online reflects this trend, and its purveyors are reaching a growing number of people, including teenagers and even younger children.
And as this threat has evolved both in the United States and especially online, we have seen its “domestic” dimensions become increasingly global.
Let me give you one example of what I mean. On September 9th of this year, the Federal Bureau of Investigation and the Department of Justice arrested and charged two leaders of the Terrorgram Collective in the United States.
These two individuals created a global community of white supremacists to communicate online with like-minded people, disseminate violent propaganda, and encourage physical attacks on minority communities and government officials.
The amplification of hate online has corresponded with a growth in antisemitism and other forms of hate, particularly in the wake of the October 7th Hamas attacks.
By just one measure, between October 7th, 2023, and January 30th of this year, the FBI opened over three times more anti-Jewish hate crimes investigations than in the four months prior to the October 7th attacks. I will return to the meaningful outcomes from these investigations in a moment.
And October 7th has had ramifications beyond the rise in hate. We have observed terrorist groups from across the ideological spectrum seeking to exploit the attack for their own goals. Images and messaging emerging from the conflict are expanding the pool of individuals susceptible to mobilization to violent acts, and causing terrorist groups that previously disdained each other to form common cause.
And these effects are likely to persist long after hostilities cease— and will interact with future flashpoints and activating events, which could drive terrorist attacks against the United States and Israel, as well as against Jewish, Muslim, Arab, and other communities.
And it is not just terrorist organizations that are of high concern. The behavior of lone actors can have significant ramifications, even when they do not commit mass violence.
For example, in February 2024, a joint investigation between the FBI and Florida authorities led to the arrest of a 17-year-old for swatting—which is the practice of making false reports to 9-1-1 to induce a law enforcement response at a residence or workplace.
Over a two-year span, this particular young person targeted a Florida mosque and hundreds of high schools, historically black colleges and universities, and even the homes of FBI agents.
Swatting distracts and drains valuable law enforcement resources, exposes police to a potentially life-threatening response, and traumatizes citizens, including students and worshippers, who experience these events.
And as if this wasn’t bad enough, it emerged that the young suspect was selling swatting as a service on Telegram— which is another way in which that platform is being exploited for dangerous purposes.
Now, some look at today’s threat landscape and assume the worst, and conclude that there is little if anything that can be done to stop the growth of these threats.
But I am here today to tell you that, like all of you, we do not see it that way.
The Biden-Harris Administration’s Strategic Approach
Clearly what I have described is not how we wish our world had evolved. But we have come together here to affirm that we are not powerless in the face of hate and violence.
From day one, President Biden and Vice President Harris have pursued a rigorously calibrated, integrated approach to countering hate and domestic terrorism that is aligned with our values and complements our broader national security interests.
This is built on their core belief that domestic terrorism and hate strike at the very foundation of our democracy.
Indeed, President Biden decided to run for the White House back in 2017 after men with tiki torches emerged from the shadows in Charlottesville spewing the same Antisemitic bile we heard in Germany in the 1930s.
That’s why, on his first day in office, President Biden directed me to lead a 100-day comprehensive review of U.S. Government efforts to address domestic terrorism. This resulted in the development and release of the first-ever National Strategy for Countering Domestic Terrorism in June of 2021.
We went to work immediately on implementing that strategy. And to complement it, recognizing how critical our partners beyond the Federal government would be to our success, in September of 2022, President Biden hosted the United We Stand Summit to mobilize communities to work with us in advancing an inclusive and bipartisan vision for a more united America and to push back against the growing normalization of hate in our society.
In December of that year, Susan Rice – then the President’s Domestic Policy Advisor – and I launched an initiative to specifically tackle Antisemitism, Islamophobia and related forms of bias and discrimination.
This led to our releasing, in May 2023, the first-ever U.S. National Strategy to Counter Antisemitism. And we have been working to develop a complementary strategy to address Islamophobia.
Importantly, our approach not only tackles the threats of today but prepares for emerging and future threats.
So I want to focus here on three key elements of the strategy: first, our efforts to hold accountable those who engage in hate-fueled violence and hate crimes; second, our efforts to protect vulnerable communities; and third, our efforts to prevent such acts from occurring in the first place.
Accountability Measures
Our Administration has prioritized the use of our legal authorities and tools to expand investigations and prosecutions.
As a result, from 2020 to 2022, the number of FBI domestic violent extremism and domestic terrorism investigations more than doubled to over 2,700.
In 2022, the Department of Justice also created a specific domestic terrorism unit within its National Security Division to handle these investigations and prosecutions.
And a similar dynamic is occurring in our efforts to address hate crimes. The FBI has published and widely disseminated information about what constitutes a hate crime and how to report them, and reinforced this by conducting over 70 meetings with faith-based organizations since October 7th.
These efforts, combined with the FBI’s tireless work to investigate every lead they receive, have delivered results. Let me describe a few.
In November of 2023, a Tampa, Florida, resident was arrested by the FBI for allegedly leaving threatening voicemails at two Jewish organizations in New York.
In January 2024, a Massachusetts man was arrested for threatening to kill members of the Jewish community and bomb places of worship.
And just last month, the Department of Justice announced criminal charges against a Pakistani national arrested in Canada who was planning to travel to New York City to attack a Jewish Community Center on the anniversary of October 7th.
Protection Measures
We have also driven efforts to enhance the safety and security of Jewish and other communities targeted for hate and violence. For example, President Biden worked with Congress to secure an additional $400 million for the Department of Homeland Security’s (DHS’s) Nonprofit Security Grant Program in February of this year.
This grant program funds security improvements and training for nonprofits and houses of worship, including campus organizations and community centers.
For example, the same program paid to install cameras and boost other security measures in Congregation Beth Israel in Colleyville, Texas—actions that the congregation’s Rabbi credited with avoiding loss of life when a terrorist took hostages in the synagogue in January 2022.
We have also worked in partnership with a wide range of state and local leaders and non-governmental partners to help communities and institutions protect themselves against and prevent hate.
As just one example, this past summer we provided 5,000 campus leaders all across the country with a detailed list of the federal resources available to help them establish safer and more secure learning environments for their students, faculty, and staff.
We sent Federal experts to campuses, hosted a variety of convenings to discuss challenges and identify solutions, and released updated toolkits to enhance their preparations for the new academic year that began in August.
This effort is ongoing, and the fear and anxiety of those who feel threatened on campuses persists. But it is clear that the resources and toolkits we have shared align with the changes that many campuses have successfully implemented this Fall.
Prevention
And this brings me to the third element of our response—the actions we are taking now to prevent hate-fueled violence and domestic terrorism in the future, before they occur.
We know that a complex process brings an individual to pursue targeted violence or terrorism. But we also know that there are behaviors and other signs that people see that are clues that an individual might be trending toward or contemplating an act of targeted violence or terrorism.
We have elevated the prevention of targeted violence and terrorism as a strategic priority for countering terrorism, antisemitism, and related forms of hate.
Our goal has been to build a prevention architecture that supports nation-wide state and local efforts to intervene and “offramp” individuals who appear to be moving toward committing acts of targeted violence and terrorism.
At the Federal level, we have surged support to state and local behavioral Threat Assessment and Management, or “TAM” teams as we refer to them.
For example, the FBI’s Behavioral Analysis Unit has embedded specifically trained agents who are called “threat management coordinators” in their field offices and is working to ensure that each of their field offices are participating in the local Threat Assessment and Management teams. Some of these coordinators are here with us today.
Likewise, the U.S. Secret Service’s National Threat Assessment Center recently released a six-step guide for state and local law enforcement about how they can most efficiently establish a TAM team that can assess and intervene with individuals identified as posing a risk of violence.
And there is the DHS Center for Prevention Programs and Partnerships, which I know is well represented here in the room. Among their many accomplishments, I want to highlight their work creating and curating the online Prevention Resource Finder, which you can Google at that name—literally a one-stop shop that lists all Federal resources available to help state and local governments prevent acts of targeted violence and terrorism. We recently expanded the website, and it now offers nearly 150 resources.
It’s important to say again here that the Federal government cannot effectively tackle this metastatic challenge alone.
Indeed, all of the evidence shows that prevention is most effective when led by our state and local partners, who are on the ground, embedded in our communities. This is especially true for TAM teams, which often operate at the county or municipal level.
The good news is that we know state and local partners can do this quickly and successfully in partnership with Federal expertise and assistance. Let me give you an example.
In the days and weeks following the appalling May 14th, 2022, domestic terrorist attack at the Tops Supermarket in Buffalo, the state of New York quickly reached out to the Federal Department of Homeland Security and other Federal agencies to explore how to expand existing partnerships and build a statewide prevention effort.
To be clear, this was led by and implemented by the State of New York, but the Federal government offered substantial assistance to the State of New York.
And by 2023, New York had launched a statewide targeted violence prevention strategy that included placing at least one TAM team in every county.
Just two years after the Buffalo attack, New York had established TAM teams in forty-three counties and the City of New York.
In May, New York noted that their TAM teams were collectively intervening in more than one thousand two hundred cases.
And, more important, these TAM teams are saving lives, taking action with respect to certain individuals who were clearly planning acts of targeted violence.
This is critical, painstaking, lifesaving work, and I am encouraged to see that many more states are responding to our calls to move in this direction.
This is progress, and if we persist, these efforts will reduce violence in our Homeland.
Closing
In closing, I want to thank each of you for the work you do every day to prevent, to prepare, and to respond to this phenomenon that is tragically impacting so many of our communities and leaving families and neighborhoods devastated.
Your partnership with us is vital to stopping the normalization of hate-fueled violence that threatens our democracy.
Again, I want commend the work of this Summit. You are the embodiment of what I have spoken about today. And there is a real feeling of solidarity in a group like this, and we can and must draw strength from one another.
For a moment, I will take you back to another very dark time in our Nation’s history — the days and weeks after 9/11. Then I had very young children — and to focus them on the positive in a time of terror I would say to them, “look at all the helpers — there are so many people who are helping other people.”
You are the helpers today, the doers, the healers in these times, and your work to scale up prevention efforts – and to mobilize the youth of our country to be a part of the solution to hate – are two of the numerous examples of how the agenda for the coming three days will build a stronger and safer America for all of us, and set an example for the world.
I salute you for all your commitment, your dedication, and everything you are doing —
And I will end where I began. While the threats are real and pernicious, we take inspiration from each other and from those we have lost.
May each of their memories be a blessing – and may our work together light the way to a brighter and more secure future.

MIL OSI USA News –

January 24, 2025

MIL-OSI USA: ICYMI: Rubio Calls Leaks of Israel’s Plan “Treason”

US Senate News:

Source: United States Senator for Florida Marco Rubio

ICYMI: Rubio Calls Leaks of Israel’s Plan “Treason”

Oct 21, 2024 | Press Releases

U.S. Senator Marco Rubio (R-FL) joined The Story with Martha MacCallum to discuss the leak of U.S. intelligence on Israel’s retaliation plans against Iran. See below for highlights, and watch the full interview on YouTube and Rumble.

On the leak of U.S. intelligence on Israel’s retaliation plans against Iran:

“It’s a federal crime to leak that information. It’s also an act of treason. It’s aiding an enemy of the United States, a government in Iran that basically says, ‘Death to America, death to Israel’ every week. It’s their slogan….

“Strategic leaks that have been designed to undermine American foreign policy and, in many cases, to help avowed enemies of the United States, that needs to stop, that needs to end. We need to know who did this, and they need to be punished.”

MIL OSI USA News –

January 24, 2025

MIL-Evening Report: From Ancient Rome to Persia, eunuchs often led armies and were powerbrokers of the ancient world

Source: The Conversation (Au and NZ) – By Michael B. Charles, Associate Professor, Management Discipline, Faculty of Business, Arts and Law, Southern Cross University

The person to the right of the haloed emperor is thought to be the eunuch Narses, a powerful Byzantine general. Bender235/Wikimedia

When people think of eunuchs, someone like Lord Varys from Game of Thrones often springs to mind. Chubby, obsequious and a flatterer, he is involved in court intrigues and manipulates people and events behind the scenes.

These traits oppose military prowess and valour endorsed by traditional models of masculinity across various times and cultures. According to those tropes, a eunuch’s weapon is the whisper, not the sword.

In reality, not every eunuch in the ancient world was a servile, cloistered being. In fact, eunuchs sometimes led armies on campaign, and were entrusted with high-level administrative tasks.

What was a eunuch?

A eunuch was someone whose testicles had been deliberately crushed or excised.

In Greek myth, Cronus (the father of Zeus) castrated his own father Uranus to overthrow his tyranny and become king of the Titans.

Greek historians reported castration as war punishment, and persistently linked the castration of young boys to sexual slavery.

The ancient Greek historian Herodotus stressed the demand for castrated boys at the court of the Persian kings. But the market for eunuchs was evidently larger than just the Persian court.

The Romans replicated the Greeks’ negative view of eunuchs. They are often portrayed in Roman texts as being in the company of “bad” emperors such as the supposedly cruel and narcissistic Domitian – even though he forbade the practice of making eunuchs.

The notion of the unmanly eunuch in antiquity was reinforced by Orientalist literature, which imagined ancient eunuchs in charge of something akin to a Turkish sultan’s harem. Unable to procreate, the eunuch is paradoxically surrounded by beautiful women, his in-between-ness granting him access to the psychological makeup of both genders.

Orientalism drew inspiration from historical accounts written after the Greco-Persian wars, which the Greeks won in 449 BCE. These accounts were written in the shadow of Alexander the Great’s conquest of the Near East (including areas such as modern-day Iraq, Iran and Syria), which was followed by the Roman hegemony.

Instead of critically evaluating the sources, colonial writers and their readers indulged in a world of fantasy where eunuchs offered a sensualised peek into the “secrets of the harem”.

In fact, a deeper look at the historical record reveals that eunuchs often occupied positions of great military power and civil authority.

Eunuchs as bodyguards, enforcers and governors

Cyrus, the first Persian king (590–529 BCE), praised eunuchs for their reliability. He insisted that gelded men, like gelded horses, are easier to control. He believed they made up for their lack of physical strength with their loyalty.

Cyrus may have owed his life to eunuchs, who played a role in saving him as a baby from a murderous plot by his grandfather.

The Greek historian Herodotus also reports that eunuch-bodyguards tried to protect, albeit unsuccessfully, the man on the Persian throne just before Darius the Great took power in 522 BCE (Darius contended that this man was not a real king but an imposter).

The historical record also mentions a Persian eunuch being in charge of a garrison at Gaza around 332 BCE.

The Egyptian pharaoh Amasis, who reigned in the sixth century BCE, also relied on eunuchs to recover fugitive slaves.

Eunuchs appeared in the courts of the Hittites and Assyrians (civilisations in modern-day Turkey and Iraq respectively) from the 13th century BCE.

Assyrian kings often appointed eunuchs as provincial governors. The Assyrian king Shamshi-Adad V (who ruled Assyria 824–811 BCE) praised his chief eunuch Mutarris-Ashur as “clever and experienced in battle”. Mutarris-Ashur led the Assyrian army on a military campaign to the Nairi lands in the Armenian Highlands.

King Ashurbanipal, who ruled the Neo-Assyrian Empire from 669 BCE to 631 BCE, sent his chief eunuch on missions against neighbouring Mannea (a kingdom in modern-day Iran) and the rebellious Gambulu tribe in ancient Babylonia.

This Assyrian relief shows the head of a beardless royal attendant, possibly a eunuch. Eunuchs were key figures in the Assyrian court.
The Metropolitan Museum of Art

Bagoas the eunuch

In the fourth century BCE, there was Bagoas, a Persian court eunuch who is sometimes conflated with a eunuch lover of Alexander the Great who had the same name. Bagoas became the second most important person in the Persian court, after the Persian king.

Bagoas had served in Persian king Artaxerxes III’s campaign against Egypt, and rose to the rank of Chiliarch (the leader of the royal infantry guard).

Bagoas developed a reputation as a kingmaker – he was instrumental in replacing Artaxerxes III with his son, Artaxerxes IV. He later poisoned Artaxerxes IV and installed as king Darius III, who was eventually defeated by Alexander the Great.

Bagoas had plotted to replace Darius too, but Darius outsmarted him; he forced Bagoas to drink the poison the latter had prepared for Darius to drink.

Eunuchs in Rome

Despite the bias of the Greco-Roman sources, including their suspicion of eastern cults that involved eunuch priests, eunuchs were important in Roman imperial service.

The emperor Claudius rewarded his eunuch Posides for his service during Rome’s invasion of Britain in 43 CE.

In 399 CE, the eunuch Eutropius became a powerful consul in Rome’s eastern empire under the emperor Arcadius. Some Romans, however, attacked the appointment of a semivir (half man) as consul as an abomination.

In early Christianity, the concept of becoming a eunuch for the kingdom of God acquired currency. According to some interpretations of the Bible, being a eunuch was connected to the virtues of chastity and celibacy.

By the sixth century CE, Byzantine eunuchs found themselves in charge of large armies. (What we now call the Byzantine Empire, or the Eastern Roman Empire, was known by its people as the Roman Empire until 1453 CE).

Narses was a eunuch and one of the Byzantine emperor Justinian’s great generals. He managed to recapture Italy, including Rome, from the Goths (a Germanic people who had invaded Italy).

Narses, possibly an Armenian by birth, was no armchair general. At the battle of Mons Lactarius (552 or 553 CE), Narses fought on foot with his fellow soldiers against the Goths. He encouraged his men to hang on against a brave enemy.

Despite the stereotypes, eunuchs clearly often played important roles in the ostensibly masculine world of strategic planning and combat.

This plurality of masculinities in the ancient Mediterranean world remains relevant to modern society as it challenges notions of a simple gender binary.

Eva Anagnostou-Laoutides receives funding from the Australian Research Council and the Gerda Henkel Foundation.

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

– ref. From Ancient Rome to Persia, eunuchs often led armies and were powerbrokers of the ancient world – https://theconversation.com/from-ancient-rome-to-persia-eunuchs-often-led-armies-and-were-powerbrokers-of-the-ancient-world-235957

MIL OSI Analysis – EveningReport.nz –

January 24, 2025

MIL-OSI Economics: AIIB Commits EUR150 Million to Türkiye North Marmara Highway Project

Source: Asia Infrastructure Investment Bank

The Asian Infrastructure Investment Bank (AIIB) has signed a EUR150 million (approximately USD167 million) loan agreement to cofinance the North Marmara Highway Nakkaş-Başakşehir BOT Project.

The Project – aimed at enhancing Istanbul’s east-west connectivity, improving road safety and reducing congestion – is being implemented under a build-operate-transfer arrangement by a consortium led by Rönesans Holding A.Ş. in partnership with Samsung C&T Corporation and other Korean investors. It involves a 31.3-km toll road, including a 1.6-km cable-stayed bridge and multiple overpasses and underpasses.

“AIIB’s participation in this project not only enhances Türkiye’s transport infrastructure but also supports our mission to advance green finance and sustainable development,” said Konstantin Limitovskiy, AIIB Vice President for Investment Clients Region 2 and Project and Corporate Finance, Global. “By reducing emissions, improving road safety and fostering cross-border connectivity, the North Marmara Highway exemplifies the kind of ‘infrastructure for tomorrow’ that will deliver long-term positive impacts for the region and beyond.”

“We’re proud to set a new standard for transportation in Türkiye with the Nakkaş-Başakşehir Project,” said Erman Ilıcak, President of Rönesans Holding. “We wish to thank our consortium partners, under the leadership of Samsung C&T Corporation, for their confidence in us throughout this project and their investment in Türkiye. Not only will the highway drastically cut travel times for individuals and businesses in Istanbul – it will also take the country’s sustainable development to the next level. This is a highway of the future, built with people, society and the environment in mind – elements we hope to see replicated across global infrastructure projects moving forward.”

“This project is expected to enhance economic cooperation between the two countries,” said Se Chul Oh, President and CEO of Samsung C&T. “Moreover, it holds a great significance as K-Team produces meaningful outcomes with the technique of a Korean builder and policy support from public organizations including Korean Expressway Corporation, KIND and PIS Fund. We will keep this momentum going to create additional cooperative opportunities in Turkey, CIS and Eastern European markets beyond the successful partnership with Rönesans.”

AIIB’s EUR150 million contribution is part of a wider EUR1.04 billion senior debt financing package. The project is cofinanced by AIIB, the European Bank for Reconstruction and Development (EBRD) and the Islamic Development Bank Group as anchor lenders, along with an international consortium of commercial banks and export credit agencies.

Key components of the project include advanced tolling systems and sustainable construction techniques. The highway is expected to benefit commuters, businesses and logistics operators by reducing travel times and transportation costs, as well as improving access to Istanbul’s New Airport. AIIB has been involved in the project since 2020 in partnership with EBRD, ensuring compliance with environmental and social standards (including the Environmental and Social Impact Assessment and Resettlement Action Plan).

This is AIIB’s second road infrastructure project in Türkiye and marks a significant milestone in AIIB’s engagement in the country’s transport sector. Earlier this year, the Bank approved a USD200 million loan under its Emergency Road Rehabilitation and Reconstruction Project to support the country’s recovery from the February 2023 earthquakes.

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

About Rönesans Holding

Rönesans Holding, a Turkish conglomerate headquartered in Ankara, is the 53rd-largest international contracting company globally and one of the largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, Rönesans has been operating successfully for 30 years in construction, energy, healthcare, real estate development and industrial investments.

About Samsung C&T Corporation

Samsung C&T Corporation is a South Korean construction and trading company since 1977. It’s a part of the larger Samsung Group. C&T stands for Construction and Trading, reflecting its diverse business portfolio. The company is involved in various sectors, including engineering and construction, trading and investment, fashion and resorts. Samsung C&T has played a significant role in the development of South Korea’s infrastructure and has expanded its global presence with projects worldwide. Samsung C&T is the 16^th largest international contracting company globally. Currently operating in 26 countries, Samsung C&T has successfully completed 510 civil infrastructure projects worldwide, with 23 ongoing projects.

MIL OSI Economics –

January 24, 2025

MIL-Evening Report: From Camilla to the ‘ugly’ Elizabeth of Austria: a problematic history of obsessing over royal women’s looks

Source: The Conversation (Au and NZ) – By Darius von Guttner Sporzynski, Historian, Australian Catholic University

Elizabeth of Austria and Casimir IV of Poland in the woodcut from the Łaski Statute. Archiwum Główne Akt Dawnych

Throughout history, queens have often been judged on their looks. Beauty standards shaped early-modern queenship. Even today, royal women such as the UK royal family’s Camilla, Catherine and Meghan are scrutinised for their looks, while their male counterparts aren’t held to the same standard.

One woman who faced particular scrutiny for her looks was Elizabeth of Austria (1436/37–1505). Known as the “mother of kings”, Elizabeth married Casimir IV of Poland and had 13 children, securing the Jagiellon dynasty’s future. Yet she is still remembered for her supposed lack of beauty.

This obsession with her appearance overlooks what really mattered for queens in her time: fertility, motherhood, political alliances and dynastic stability.

Beauty versus duty

Elizabeth was a powerful queen consort of Poland who played a significant role in European politics. Yet for centuries, she has been chiefly labelled as unattractive. This narrative likely began as early as 50 years after her death, with commentators focusing on her supposed ugliness.

But the foundation for these claims is shaky, at best. Medieval chroniclers, such as Jan Długosz, who documented the lives of Polish rulers and their families, made no mention of Elizabeth’s appearance.

This omission is significant as Długosz often commented on the beauty, or lack thereof, of other royal women. The absence of such remarks in Elizabeth’s case suggests her physical appearance was not a matter of public concern during her lifetime.

Later chroniclers such as Maciej of Miechów (1457–1523) and Marcin Bielski (1495–1575), who drew heavily from Długosz, also failed to comment on Elizabeth’s looks, further underscoring the lack of focus on her beauty.

In 1548, Polish nobleman Andrzej Górka alleged in a rhetorical speech that King Casimir IV was disappointed by Elizabeth’s appearance and considered breaking off their engagement. Górka claimed the king expressed doubts about the impending marriage because of Elizabeth’s lack of beauty – and the only thing that persuaded him to wed was a sense of duty.

However, Górka’s speech took place almost a century after the actual events. It was delivered in a political context where the goal was to influence Casimir’s grandson not to marry for love.

This saga mirrors a well-known English story involving Henry VIII and Anne of Cleves. In 1540, Henry, eager to meet his new bride, rode in disguise to surprise her. The meeting didn’t go as planned. Henry’s disappointment in Anne’s appearance became notorious and the marriage was speedily annulled.

Both of these stories reflect the pressure queens faced to meet idealistic beauty standards, often with serious consequences. Henry’s judgement of Anne based on her looks altered the course of their marriage and, by extension, future political alliances. His behaviour reinforced the idea that a queen’s worth was tied to her physical appearance, overshadowing her political or dynastic significance.

Elizabeth as the ‘ugly queen’

The primary role of a queen in early-modern Europe was to provide heirs and secure political alliances through marriage. Beauty was arguably not the most important factor.

This 1454 painting depicts the marriage of Elizabeth of Austria to Casimir IV of Poland.
Wikimedia

Elizabeth of Austria’s marriage to Casimir IV of Poland was about strengthening ties between the Habsburg and Jagiellon dynasties, not about physical attraction. Of Elizabeth’s 13 children, several went on to become kings and queens across Europe. Her ancestry and status as a mother were the basis of her political influence – far more valuable than her looks.

Around 1502, in anticipation of the birth of her grandchild, Elizabeth commissioned a treatise to provide practical advice on raising a future ruler. She believed a royal child should embody values, attitudes and behaviours befitting a future monarch.

However, as history shows, the perception of a queen’s beauty could still end up influencing her legacy. While Elizabeth’s contemporaries didn’t seem to care about her appearance, later generations did.

The myth of Elizabeth’s unattractiveness gained traction primarily after a 1973 investigation into the royal tombs at the Wawel Cathedral in Kraków. Skeletal remains identified as belonging to Elizabeth showed facial deformities, reinforcing the myth. However, there’s no solid proof these bones were even hers, and the findings have since been questioned.

Nonetheless, the idea that a queen had to be beautiful to be politically capable took hold over time. Even though Elizabeth helped secure the future of one of Europe’s most powerful dynasties, her legacy is clouded by a narrative focused on her appearance.

Royal beauty standards today

Royal women in the 21st century continue to be haunted by the same narratives that plagued Anne of Cleves and Elizabeth of Austria. Queen Camilla, for instance, has been criticised for her looks throughout her public life, especially in comparison to the late Princess Diana.

Kate Middleton and Meghan Markle also face intense media scrutiny over their appearance, with headlines dissecting everything from their fashion choices to their weight. Queen Mary of Denmark, Princess Charlene of Monaco and Queen Letizia of Spain face similar scrutiny.

Sure, queens were and are aware of this. Many even weaponised beauty, ritual and fashion for their own gain. Cleopatra did this to hold onto power in ancient Egypt, and Marie Antoinette to protect herself from the hostile French court.

A circa 1774 portrait of Marie Antoinette. — Marie Antoinette, with her extravagant dresses, became as renowned for her fashion as her scandalous behaviour.
British Museum, CC BY-NC-SA

Elizabeth I’s reign in England gave rise to a concept of “Elizabethan beauty”, characterised by pale skin and rosy lips and cheeks. And the late Elizabeth II understood the need to dress the part.

By reducing royal women to their looks – or framing them as fashion icons – we fail to reckon with their individual characters and influence in the world. Meanwhile, men such as King Charles, King Frederick of Denmark and King Felipe of Spain are more likely to be judged by their virility, actions and policies.

Should beauty really matter when it comes to royal women? Shouldn’t we be more interested in their contributions to history, politics and society?

It’s time to shift the conversation away from appearance and focus on what matters: the impact these women have on the world. Like their male counterparts, they are crucial figures in shaping history and politics, so we ought to think carefully about how we judge them.

Darius von Guttner Sporzynski receives funding from the National Science Centre, Poland as a partner investigator in the grant “Polish queen consorts in the 15th and 16th centuries as wives and mothers” (2021/43/B/HS3/01490).

Magdalena Biniaś-Szkopek receives funding from the National Science Centre, Poland, as the principal investigator in the grant “Polish queen consorts in the 15th and 16th centuries as wives and mothers” (2021/43/B/HS3/01490).

Robert Tomczak receives funding from the National Science Centre, Poland, as a post-doctoral fellow in the grant “Polish queen consorts in the 15th and 16th centuries as wives and mothers” (2021/43/B/HS3/01490).

– ref. From Camilla to the ‘ugly’ Elizabeth of Austria: a problematic history of obsessing over royal women’s looks – https://theconversation.com/from-camilla-to-the-ugly-elizabeth-of-austria-a-problematic-history-of-obsessing-over-royal-womens-looks-241674

MIL OSI Analysis – EveningReport.nz –

January 24, 2025

MIL-OSI Video: Palestine – Security Council Media Stakeout | United Nations

Source: United Nations (Video News)

Comments to the Media by Riyad Mansour, Permanent Observer of the State of Palestine to the United Nations & others on the latest situation in Palestine.

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

MIL OSI Video –

January 24, 2025

MIL-OSI USA: FBI and CISA Issue Public Service Announcement Warning of Tactics Foreign Threat Actors are Using to Spread Disinformation in the 2024 U.S. General Election

News In Brief – Source: US Computer Emergency Readiness Team

WASHINGTON – The Federal Bureau of Investigation (FBI) and the Cybersecurity and Infrastructure Security Agency (CISA) issued their final four-part joint public service announcement (PSA) today titled “Just So You Know: Foreign Threat Actors Likely to Use a Variety of Tactics to Develop and Spread Disinformation During the 2024 U.S. General Election Cycle.” This PSA highlights efforts by foreign actors to spread disinformation in the lead-up to the 2024 U.S. general election with the goal of casting doubt on the integrity of the democratic process and sowing partisan discord. Foreign adversaries are using a variety of sophisticated disinformation campaigns, often leveraging new tools, such as generative artificial intelligence (AI), to craft and spread misleading content.

“As we approach Election Day, it is important to remember that while elections are political, election security is not. Election security is national security. Our foreign adversaries are looking to attack our democratic process to further their own objectives, and we need the help of all Americans in ensuring they are not successful,” said CISA Senior Advisor Cait Conley. “There has been incredible effort across local, state and federal governments to ensure the security and integrity of our nation’s election infrastructure. Americans should be confident that their votes will be counted as cast. They should also know that our foreign adversaries will try to make them believe otherwise. We encourage everyone to remain vigilant, verify the information they consume, and rely on trusted sources like their state and local election officials.”

The PSA highlights specific examples of tactics we have seen used by Russia and Iran during the 2024 election cycle to target all Americans. These include things from mimicking national level media outlets like the Washington Post and Fox News and creating inauthentic news sites posing as legitimate media organizations to using paid influencers to hide their hand. It is important for voters to critically evaluate information sources, particularly as disinformation campaigns evolve to use AI-generated content. Both agencies urge the American public to rely on trusted information from state and local election officials and to verify claims through multiple reliable sources before sharing them on social media or other platforms.

For more information on how to protect yourself from disinformation, visit the official websites of the FBI and CISA’s dedicated election security webpage, cisa.gov/Protect2024.

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About CISA

As the nation’s cyber defense agency and national coordinator for critical infrastructure security, the Cybersecurity and Infrastructure Security Agency leads the national effort to understand, manage, and reduce risk to the digital and physical infrastructure Americans rely on every hour of every day.

Visit CISA.gov for more information and follow us on X, Facebook, LinkedIn, Instagram.

MIL OSI USA News –

January 24, 2025

MIL-OSI Asia-Pac: Khelo India has significantly increased the number of female athletes in national events : Union Minister Dr. Mansukh Mandaviya

Source: Government of India

Khelo India has significantly increased the number of female athletes in national events : Union Minister Dr. Mansukh Mandaviya

Union Minister inaugurates newly constructed 300-bedded girls’ hostel at SAI RC LNCPE

Posted On: 20 OCT 2024 3:23PM by PIB Thiruvananthpuram

Union Minister for Youth Affairs and Sports Dr. Mansukh Mandaviya today said that Khelo India ASMITA Women league has significantly increased the number of female athletes participating in national events. The minister was inaugurating the newly constructed 300-bedded girls’ hostel at SAI RC LNCPE, Thiruvananthapuram. Union Minister also emphasized that this reflects a significant investment in the future of our young women athletes. He also noted that India is targeting a place in the top 10 of the medal tally at the 2036 Olympics.

The Minister urged athletes not to view sports as merely a path to a government job, stressing that they should play for the country, win medals, and bring glory to the nation. He reiterated Prime Minister Narendra Modi’s Panch Pran underscoring that winning a medal brings honor not just to the individual and their loved ones but to the entire country, which collectively takes pride in such achievements.

The hostel is constructed under the Khelo India creation and up-gradation of Infrastructure projects. The project, awarded to M/s WAPCOS, was completed within the budget Rs. 32.88 Crores. Since 2014, the Khelo India scheme has successfully completed 202 infrastructure projects, with an additional 121 projects underway.

Designed in a pentagon shape, the hostel comprises five blocks, each featuring ground plus three storeys. This innovative architecture maximizes space while fostering a vibrant and welcoming environment. The facility includes a centralized kitchen capable of serving 108 dining guests, along with storage rooms, staff dormitories, and dedicated washing areas.

As part of the event, Union Minister felicitated sportspersons who have represented India in Olympics, Asiad and other international games. Arjuna awardees Padmini Thomas, S Omanakumari, Geethu Anna Jose, Saji Thomas and V Diju received the honour from the minister.

Dr. G. Kishore, Principal & Regional Head, SAI RC LNCPE and K.M. Beenamol were also present. Dr. G. Kishore explained about the campus and it’s achievements in the function.

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SK

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MIL OSI Asia Pacific News –

January 24, 2025

MIL-OSI Asia-Pac: India Chem 2024 concludes today in Mumbai

Source: Government of India (2)

India Chem 2024 concludes today in Mumbai

India’s chemical and petrochemical industry is projected to surpass $300 billion by 2028 and is on track to reach $1 trillion by 2040: Shri Jagat Prakash Nadda, Union Minister for Health & Family Welfare and Chemicals & Fertilizers

Posted On: 20 OCT 2024 2:06PM by PIB Delhi

The three-day event ‘India Chem-2024’ which was inaugurated on 17^th concludes in Mumbai today.

Shri Jagat Prakash Nadda, Union Minister for Health & Family Welfare, and Chemicals & Fertilizers, Government of India, while addressing the keynote session in the august presence of the Chief Ministers of Gujarat, Madhya Pradesh and Odisha, highlighted the key role of the chemical and petrochemical sector in the economy, contributing over 9% to manufacturing gross value added and 7% to total exports. Shri Nadda stipulated that India’s chemical and petrochemical industry is projected to surpass $300 billion by 2028 and is on track to reach $1 trillion by 2040. He added that the sector will play a key role towards Prime Minister Shri Narendra Modi’s goal of ‘ViksitBharat@2047”. He emphasized the importance of reducing reliance on imported feedstocks and focusing on alternative feed stocks, while also ensuring that India leads the global shift toward greener technologies. He noted that sustainability is the future of the industry and that India must take the lead in the adoption of circular economy principles. Referring to the need for more emphasis on R&D, safety and skilling, he elaborated upon the various steps being taken by the Government to boost innovation and investment. He assured the industry that the Government shall leave no stone unturned in realizing the full potential of the Indian Chemical and Petrochemical industry.

Shri Bhupendra Rajnikant Patel, Chief Minister of Gujarat, remarked on Gujarat’s leadership in exports of chemicals and petrochemicals, and referred to the Government’s efforts to establish India as a leading destination for the chemical industry, fostering collaboration and excellence for a prosperous future. Shri Mohan CharanMajhi, Chief Minister of Odisha, highlighted Odisha’s strategic position as a rising hub for the chemical industry. Alluding to the strong infrastructure and highly skilled workforce available in Odisha, he invited industry leaders to explore the vast opportunities offered by the State. Shri Mohan Yadav, Chief Minister of Madhya Pradesh, while speaking about his State’s leadership in the sector, highlighted the efforts being made by the State Government to further boost the development of the sector and create more employment opportunities.

Ms. Anupriya Patel, Minister of State for Health & Family Welfare, and Chemicals & Fertilizers, Government of India, formally inaugurated the exhibition, which brought together over 150 exhibitors, from different industry segments. In her address at the keynote session, she mentioned that India’s manufacturing sector has shown remarkable growth, fueled by progressive policy reforms and rising domestic demand and that FDI has played a pivotal role in enhancing the growth and competitiveness of India’s chemical sector, which includes petrochemicals and specialty chemicals. The country has become an attractive destination for Foreign Direct Investment (FDI), allowing 100% FDI in manufacturing through the automatic route. Over the past decade, she mentioned that the sector has attracted US $12.48 billion in investments in this sector alone.

Ms. Nivedita Shukla Verma, Secretary, Department of Chemicals & Petrochemicals, Government of India elaborated on the event theme of ‘Advantage Bharat’ and how the Indian Chemical and Petrochemical sector has been paving the future of the Indian economy towards the goal of Viksit Bharat@2047. She drew attention to the various measures undertaken by the Government towards boosting infrastructure, including railways, roads and ports, logistics infrastructure as well as digital infrastructure as also initiatives to promote green economy and circularity. All these measures would enhance productivity and boost exports. In this context, she referred to various policy initiatives undertaken by the Department such as the Scheme for Centers of Excellence, PCPIRs, Quality Control Orders etc.,

Shri Deepak Mehta, Chairman, FICCI National Chemical Committee, stated that India is at a pivotal point of growth, with the chemical industry set to expand significantly. Shri Nikhil Meswani, Executive Director, Reliance Limited, highlighted the importance of chemicals to modern life, stating that it is the backbone of future development in agriculture, electronics, and beyond.

This was followed by a Global CEOs’ Conclave, presided over by the Union Minister for Chemicals & Fertilizers, wherein industry leaders from across the globe discussed the opportunities and challenges of the Indian chemical industry. The session witnessed insightful discussions and knowledge sharing, addressing key challenges and opportunities within the sector, with discussion on the meaningful discussion on the strengths of the Indian economy and possible interventions which may help propel the sector forward in the coming years.

The Petrochemicals Forum was presided over by Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas, Government of India. The session was participated in by leading Indian and global industry leaders including Exxon Mobil, Reliance Limited, IOCL and SABIC, amongst others. The Minister said India’s per capita petrochemical consumption is far below developed nations, offering significant opportunities for higher investment in the sector. Stating that Indian companies have committed investments of more than $ 50 billion in the near future, he opined that India’s petrochemicals production is projected to increase from 29.62 million tons to 46 million tons by 2030.

This event, organized jointly by the Department of Chemicals & Petrochemicals and FICCI, provided a platform for brainstorming discussions amongst industry leaders and Government representatives on specific topics of relevance to the sector, facilitating dialogue on investment prospects, regulatory frameworks, and strategic challenges.

One of the largest exhibition cum conferences for chemical and petrochemical industries not just in India, but in Asia, this edition of India-Chem was held with the theme of “Advantage Bharat: Indian Chemicals and Petrochemicals Paving the Future”.

The exhibition consisted of pavilions from leading Indian and global companies in the sector, several Indian States including Madhya Pradesh, Odisha, Gujarat and Andhra Pradesh, and also saw international participation from about 22 countries, including Belarus, Saudi Arabia, Germany and the Netherlands, with a footfall over more than 7,500 people across 3 days. Netherlands, with whom India shares a robust trade relationship, particularly in the chemical and petrochemical sector, was a partner country for the event.

There were several sessions on issues ranging from dyes, and agrochemicals, to petrochemicals, which saw discussions on the latest developments in the field, as well as on the importance of innovation and adoption of sustainable practices. Besides, there were dedicated sessions focusing on geography-specific issues including the India-EU, India-East Asia, and India-US Chemicals & Petrochemicals Forums, bringing together key stakeholders from each of these regions. These sessions enabled in-depth discussions on market insights, regulatory landscapes, and investment trends shaping the future of the sector, while also providing an opportunity to the participants to forge possible strategic partnerships which transcend geographical boundaries, thereby exploring new avenues to accelerate growth in the chemical and petrochemical sector.

On its third and final day, the event hosted an engaging job fair featuring 14 leading chemical companies from different sectors such as ABB Instruments Pvt Ltd., Aarti Industries, Dhanuka Agrotech, Atul Limited, Crystal Crop Care, etc. and students from CIPET – Central Institute of Plastic Engineering and Technology, which functions under the ambit of the Department of chemicals and petrochemicals, Ministry of Chemicals and Fertilisers. Institute is responsible for providing skilling through various undergraduate and postgraduate courses to almost 65,000 students per year. During the job fair, the students of CIPET got an opportunity to interact with the industry to explore possible career prospects. This served as an exciting platform bringing together students and potential employers in the chemical industry, helping the students gain insights into the future of the sector.

*******

MV/AKS

(Release ID: 2066478) Visitor Counter : 21

MIL OSI Asia Pacific News –

January 24, 2025

MIL-OSI Asia-Pac: INDIAN NAVY – ROYAL NAVY OF OMAN MARITIME EXERCISE (NASEEM AL BAHR)

Source: Government of India (2)

Posted On: 20 OCT 2024 12:03PM by PIB Delhi

INS Trikand and Dornier Maritime Patrol Aircraft, participated in the Indo-Oman bilateral naval exercise Naseem-Al-Bahr with the Royal Navy of Oman Vessel Al Seeb off Goa from 13 to 18 October 24.

The exercise was conducted in two phases: with harbour phase from 13 to 15 October 24, followed by the sea phase. As part of harbour activities, personnel from both Navies engaged in professional interactions, including Subject Matter Expert Exchanges and planning conferences. In addition, sports fixtures and social engagements were also held.

During the sea phase of the exercise conducted from 16 to 18 Oct 24, both ships carried out various evolutions, including gun firings at surface inflatable targets, close-range anti-aircraft firings, manoeuvres, and Replenishment at Sea Approaches (RASAPS). The integral helicopter operated from INS Trikand and undertook cross-deck landings and vertical replenishment (VERTREP) with RNOV Al Seeb. Additionally, the Indian Navy’s Dornier aircraft provided Over-the-Horizon Targeting (OTHT) data with the participating ships. To further enhance interoperability, Indian Navy Sea Riders embarked on RNOV Al Seeb for a day. The exercise helped strengthen interoperability and enhanced understanding of each other’s best practices.

The exercise was a resounding success, achieving its aims of enhancing interoperability, fostering mutual understanding, and strengthening cohesion between the Indian Navy and the Royal Navy of Oman.

This exercise further reaffirms India’s commitment to constructive collaboration and mutual growth with like-minded nations in the Indian Ocean Region.

______________________________________________________________

VM/SKY 216/24

(Release ID: 2066452) Visitor Counter : 29

MIL OSI Asia Pacific News –

January 24, 2025

MIL-OSI: Beamr to Present at the ThinkEquity Conference

Source: GlobeNewswire (MIL-OSI)

Herzliya, Israel, Oct. 21, 2024 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization technology and solutions, today announced the Company will present at the following investor conference:

Event:	The ThinkEquity Conference
Date:	October 30, 2024
Time:	10:30 am ET
Location:	New York, NY
Presenters:	Sharon Carmel, Founder and Chief Executive Officer
	Danny Sandler, Chief Financial Officer

Beamr Investors website: https://www.investors.beamr.com/

About Beamr

Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit http://www.beamr.com

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2024, and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:

investorrelations@beamr.com

The MIL Network –

January 24, 2025

MIL-OSI: Marquette National Corporation Declares a Dividend of $0.28 per Share

Source: GlobeNewswire (MIL-OSI)

CHICAGO, Oct. 21, 2024 (GLOBE NEWSWIRE) — Marquette National Corporation (OTCQX: MNAT) today announced that its Board of Directors declared a cash dividend of $0.28 per share. The dividend will be payable on January 2, 2025 to shareholders of record on December 20, 2024. As of September 30, 2024, Marquette National Corporation had 4,372,352 shares issued and outstanding.

Marquette National Corporation is a diversified bank holding company with total assets of approximately $2.20 billion. The Company’s banking subsidiary, Marquette Bank, is a full-service, community bank that serves the financial needs of communities in Chicagoland, offering an extensive line of financial solutions, including retail banking, real estate lending, trust, insurance, investments, wealth management and business banking to consumers and commercial customers. Marquette Bank has 20 branches located in: Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit and Tinley Park, Illinois. For more information visit: https://emarquettebank.com.

Special Note Concerning Forward-Looking Statements
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local, state, national and international economies(including the effects of inflationary pressures and supply chain constraints); (ii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the ongoing Israeli-Palestinian conflict and the Russian invasion of Ukraine), or other adverse external events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iii) changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (iv) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business as a result of the upcoming 2024 presidential election or any changes in response to failures of other banks; (v) changes in interest rates and prepayment rates of the Company’s assets (including the impact of the significant rate increases by the Federal Reserve since 2022); (vi) increased competition in the financial services sector (including from non-bank competitors such as credit unions and “fintech” companies) and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) the loss of key executives or employees; (ix) changes in consumer spending; (x) unexpected outcomes of existing or new litigation involving the Company; (xi) the economic impact of exceptional weather occurrences such as tornadoes, floods and blizzards; (xii) fluctuations in the value of securities held in our securities portfolio; (xiii) concentrations within our loan portfolio, large loans to certain borrowers, and large deposits from certain clients; (xiv) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversity their exposure; (xv) the level of non-performing assets on our balance sheets; (xvi) interruptions involving our information technology and communications systems or third-party servicers; (xvii) breaches or failures of our information security controls or cybersecurity-related incidents, and (xviii) the ability of the Company to manage the risks associated with the foregoing as well as anticipated.. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

For more information:
Patrick Hunt
EVP & CFO
708-364-9019
phunt@emarquettebank.com

The MIL Network –

January 24, 2025

MIL-OSI: HBT Financial, Inc. Announces Third Quarter 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

Third Quarter Highlights

Net income of $18.2 million, or $0.57 per diluted share; return on average assets (“ROAA”) of 1.44%; return on average stockholders’ equity (“ROAE”) of 13.81%; and return on average tangible common equity (“ROATCE”)⁽¹⁾ of 16.25%
Adjusted net income⁽¹⁾ of $19.2 million; or $0.61 per diluted share; adjusted ROAA⁽¹⁾ of 1.53%; adjusted ROAE⁽¹⁾ of 14.62%; and adjusted ROATCE⁽¹⁾ of 17.20%
Asset quality remained strong with nonperforming assets to total assets of 0.17% and net charge-offs to average loans of 0.07%, on an annualized basis
Net interest margin and net interest margin (tax-equivalent basis)⁽¹⁾ expanded to 3.98% and 4.03%, respectively

BLOOMINGTON, Ill., Oct. 21, 2024 (GLOBE NEWSWIRE) — HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $18.2 million, or $0.57 diluted earnings per share, for the third quarter of 2024. This compares to net income of $18.1 million, or $0.57 diluted earnings per share, for the second quarter of 2024, and net income of $19.7 million, or $0.62 diluted earnings per share, for the third quarter of 2023.

J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “In the third quarter, we continued our consistently solid financial performance with net income of $18.2 million, adjusted net income⁽¹⁾ of $19.2 million, adjusted ROAA⁽¹⁾ of 1.53% and adjusted ROATCE⁽¹⁾ of 17.20%. We have also seen tangible equity continue to build, with tangible book value per share increasing 23.3% over the last year. Our net interest margin (tax-equivalent basis)⁽¹⁾ increased 3 basis points to 4.03% while funding costs remained modest, increasing 5 basis points to 1.47%. Our asset quality remains strong with net charge-offs at 0.07% of average loans on an annualized basis during the quarter and nonperforming assets to total assets at 0.17%. We have not seen any significant signs of stress in our loan portfolio, but we continue to monitor the portfolio closely. Noninterest income remained consistent and noninterest expense of $31.3 million was up only 2.1% when compared to the third quarter of 2023, as we remain focused on operational efficiency while continuing to invest in our business. Lastly, all capital ratios had solid increases and can support future organic growth or acquisitions.”
____________________________________
(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

Adjusted Net Income

In addition to reporting GAAP results, the Company believes non-GAAP measures such as adjusted net income and adjusted earnings per share, which adjust for acquisition expenses, branch closure expenses, gains (losses) on closed branch premises, net earnings (losses) from closed or sold operations, charges related to termination of certain employee benefit plans, realized gains (losses) on sales of securities, and mortgage servicing rights fair value adjustments, provide investors with additional insight into its operational performance. The Company reported adjusted net income of $19.2 million, or $0.61 adjusted diluted earnings per share, for the third quarter of 2024. This compares to adjusted net income of $18.1 million, or $0.57 adjusted diluted earnings per share, for the second quarter of 2024, and adjusted net income of $20.3 million, or $0.63 adjusted diluted earnings per share, for the third quarter of 2023 (see “Reconciliation of Non-GAAP Financial Measures” tables below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures).

Net Interest Income and Net Interest Margin

Net interest income for the third quarter of 2024 was $47.7 million, an increase of 1.5% from $47.0 million for the second quarter of 2024. The increase was primarily attributable to improved loan yields which were mostly offset by an increase in funding costs.

Relative to the third quarter of 2023, net interest income decreased 1.1% from $48.3 million. The decrease was primarily attributable to higher funding costs which were partially offset by higher asset yields and an increase in interest-earning assets.

Net interest margin for the third quarter of 2024 was 3.98%, compared to 3.95% for the second quarter of 2024, and net interest margin (tax-equivalent basis)⁽¹⁾ for the third quarter of 2024 was 4.03%, compared to 4.00% for the second quarter of 2024. Higher yields on interest-earning assets, which increased by 7 basis points to 5.35%, were mostly offset by an increase in funding costs, with the cost of funds increasing by 5 basis points to 1.47%.

Relative to the third quarter of 2023, net interest margin decreased 9 basis points from 4.07% and net interest margin (tax-equivalent basis)⁽¹⁾ decreased 10 basis points from 4.13%. These decreases were primarily attributable to increases in funding costs outpacing increases in interest-earning asset yields.
____________________________________
(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

Noninterest Income

Noninterest income for the third quarter of 2024 was $8.7 million, a decrease from $9.6 million for the second quarter of 2024. The decrease was primarily attributable to changes in the mortgage servicing rights (“MSR”) fair value adjustment, with a $1.5 million negative MSR fair value adjustment included in the third quarter 2024 results compared to a $0.1 million negative MSR fair value adjustment included in the second quarter 2024 results. Partially offsetting the MSR fair value adjustment was a $0.2 million increase in service charge income and a $0.2 million increase in other noninterest income, primarily attributable to swap fee income.

Relative to the third quarter of 2023, noninterest income decreased 8.3% from $9.5 million. The decrease was primarily attributable to the $1.5 million negative MSR fair value adjustment included in the third quarter 2024 results, partially offset by the absence of $0.8 million in realized losses on the sale of securities included in the third quarter 2023 results.

Noninterest Expense

Noninterest expense for the third quarter of 2024 was $31.3 million, a 2.7% increase from $30.5 million for the second quarter of 2024. The increase was primarily attributable to a $0.5 million increase in occupancy expense, driven in part by a seasonal increase in planned building maintenance expenses, and a $0.4 million increase in marketing and customer relations expense.

Relative to the third quarter of 2023, noninterest expense increased 2.1% from $30.7 million. The increase was primarily attributable to a $0.7 million increase in salaries and a $0.4 million increase in employee benefits. Partially offsetting these increases was a $0.3 million decrease in marketing and customer relations expense.

On February 1, 2023, HBT Financial completed its acquisition of Town and Country Financial Corporation (“Town and Country”) with the core system conversion successfully completed in April 2023. Acquisition-related expenses recognized during the nine months ended September 30, 2023 are summarized below. No Town and Country acquisition-related expenses were recognized subsequent to the second quarter of 2023.

(dollars in thousands)		Nine Months Ended September 30, 2023

PROVISION FOR CREDIT LOSSES	$	5,924
NONINTEREST EXPENSE
Salaries		3,584
Furniture and equipment		39
Data processing		2,031
Marketing and customer relations		24
Loan collection and servicing		125
Legal fees and other noninterest expense		1,964
Total noninterest expense		7,767
Total acquisition-related expenses	$	13,691

Loan Portfolio

Total loans outstanding, before allowance for credit losses, were $3.37 billion at September 30, 2024, compared with $3.39 billion at June 30, 2024, and $3.34 billion at September 30, 2023. The $15.7 million decrease from June 30, 2024 was primarily attributable to several larger commercial real estate loan payoffs due to the sale of the property and a couple of larger one-to-four family residential loan payoffs. These decreases were partially offset by increased line usage and term originations in our agricultural and farmland portfolio.

Deposits

Total deposits were $4.28 billion at September 30, 2024, compared with $4.32 billion at June 30, 2024, and $4.20 billion at September 30, 2023. The $38.0 million decrease from June 30, 2024 was primarily attributable to lower balances maintained in retail accounts and a $18.3 million decrease in escrow balances related to seasonal tax payments, partially offset by increases in public funds and business accounts. Additionally, we continue to see a shift towards higher cost deposit products, with decreases in noninterest-bearing deposits, interest-bearing demand, and savings balances being partially offset by an increase in money market and time deposit balances.

Asset Quality

Nonperforming loans totaled $8.2 million, or 0.24% of total loans, at September 30, 2024, compared with $8.4 million, or 0.25% of total loans, at June 30, 2024, and $6.7 million, or 0.20% of total loans, at September 30, 2023. Additionally, of the $8.2 million of nonperforming loans held as of September 30, 2024, $2.0 million is either wholly or partially guaranteed by the U.S. government. The $0.2 million decrease in nonperforming loans from June 30, 2024 was primarily attributable to the payoff of $0.1 million in nonaccrual agricultural and farmland loans.

The Company recorded a provision for credit losses of $0.6 million for the third quarter of 2024. The provision for credit losses primarily reflects a $1.2 million increase in required reserves resulting from changes in economic forecasts; a $0.2 million increase in required reserves resulting from qualitative factor changes; a $0.6 million decrease in required reserves driven by decreased loan balances and changes within the loan portfolio; and a $0.2 million decrease in specific reserves.

The Company had net charge-offs of $0.6 million, or 0.07% of average loans on an annualized basis, for the third quarter of 2024, compared to net charge-offs of $0.7 million, or 0.08% of average loans on an annualized basis, for the second quarter of 2024, and net recoveries of $0.1 million, or 0.01% of average loans on an annualized basis, for the third quarter of 2023. During the third quarter of 2024, net charge-offs were primarily recognized in the commercial and industrial category which had $0.7 million of net charge-offs.

The Company’s allowance for credit losses was 1.22% of total loans and 499% of nonperforming loans at September 30, 2024, compared with 1.21% of total loans and 484% of nonperforming loans at June 30, 2024. In addition, the allowance for credit losses on unfunded lending-related commitments totaled $4.1 million as of September 30, 2024, compared with $4.3 million as of June 30, 2024.

Capital

As of September 30, 2024, the Company exceeded all regulatory capital requirements under Basel III as summarized in the following table:

	September 30, 2024		For Capital Adequacy Purposes With Capital Conservation Buffer

Total capital to risk-weighted assets	16.54	%	10.50	%
Tier 1 capital to risk-weighted assets	14.48		8.50
Common equity tier 1 capital ratio	13.15		7.00
Tier 1 leverage ratio	11.16		4.00

The ratio of tangible common equity to tangible assets⁽¹⁾ increased to 9.35% as of September 30, 2024, from 8.74% as of June 30, 2024, and tangible book value per share⁽¹⁾ increased by $0.91 to $14.55 as of September 30, 2024, when compared to June 30, 2024.

During the third quarter of 2024, the Company did not repurchase shares of its common stock under its stock repurchase program. The Company’s Board of Directors has authorized the repurchase of up to $15 million of HBT Financial common stock under its stock repurchase program, which is in effect until January 1, 2025. As of September 30, 2024, the Company had $10.6 million remaining under the stock repurchase program.
____________________________________
(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

About HBT Financial, Inc.

HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches. As of September 30, 2024, HBT Financial had total assets of $5.0 billion, total loans of $3.4 billion, and total deposits of $4.3 billion.

Non-GAAP Financial Measures

Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include net interest income (tax-equivalent basis), net interest margin (tax-equivalent basis), efficiency ratio (tax-equivalent basis), ratio of tangible common equity to tangible assets, tangible book value per share, ROATCE, adjusted net income, adjusted earnings per share, adjusted ROAA, adjusted ROAE, and adjusted ROATCE. Our management uses these non-GAAP financial measures, together with the related GAAP financial measures, in its analysis of our performance and in making business decisions. Management believes that it is a standard practice in the banking industry to present these non-GAAP financial measures, and accordingly believes that providing these measures may be useful for peer comparison purposes. These disclosures should not be viewed as substitutes for the results determined to be in accordance with GAAP; nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in the “Reconciliation of Non-GAAP Financial Measures” tables.

Forward-Looking Statements

Readers should note that in addition to the historical information contained herein, this press release contains, and future oral and written statements of the Company and its management may contain, “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 generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” or “should,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (i) the strength of the local, state, national and international economies (including effects of inflationary pressures and supply chain constraints); (ii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the Israeli-Palestinian conflict and the Russian invasion of Ukraine), or other adverse external events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iii) changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (iv) changes in state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the recent failures of other banks or as a result of the upcoming 2024 presidential election; (v) changes in interest rates and prepayment rates of the Company’s assets; (vi) increased competition in the financial services sector, including from non-bank competitors such as credit unions and “fintech” companies, and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated; (ix) the loss of key executives or employees; (x) changes in consumer spending; (xi) unexpected outcomes of existing or new litigation involving the Company; (xii) the economic impact of exceptional weather occurrences such as tornadoes, floods and blizzards; (xiii) fluctuations in the value of securities held in our securities portfolio; (xiv) concentrations within our loan portfolio (including commercial real estate loans), large loans to certain borrowers, and large deposits from certain clients; (xv) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and may withdraw deposits to diversify their exposure; (xvi) the level of non-performing assets on our balance sheets; (xvii) interruptions involving our information technology and communications systems or third-party servicers; (xviii) breaches or failures of our information security controls or cybersecurity-related incidents, and (xix) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission.

CONTACT:
Peter Chapman
HBTIR@hbtbank.com
(309) 664-4556

HBT Financial, Inc. Unaudited Consolidated Financial Summary

	As of or for the Three Months Ended									Nine Months Ended September 30,
(dollars in thousands, except per share data)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023
Interest and dividend income	$	64,117		$	62,824		$	59,041		$	188,902		$	167,588
Interest expense		16,384			15,796			10,762			47,453			23,600
Net interest income		47,733			47,028			48,279			141,449			143,988
Provision for credit losses		603			1,176			480			2,306			6,460
Net interest income after provision for credit losses		47,130			45,852			47,799			139,143			137,528
Noninterest income		8,705			9,610			9,490			23,941			26,841
Noninterest expense		31,322			30,509			30,671			93,099			100,577
Income before income tax expense		24,513			24,953			26,618			69,985			63,792
Income tax expense		6,333			6,883			6,903			18,477			16,396
Net income	$	18,180		$	18,070		$	19,715		$	51,508		$	47,396

Earnings per share – Diluted	$	0.57		$	0.57		$	0.62		$	1.62		$	1.49

Adjusted net income ⁽¹⁾	$	19,244		$	18,139		$	20,279		$	55,456		$	58,910
Adjusted earnings per share – Diluted ⁽¹⁾		0.61			0.57			0.63			1.75			1.86

Book value per share	$	17.04		$	16.14		$	14.36
Tangible book value per share ⁽¹⁾		14.55			13.64			11.80

Shares of common stock outstanding		31,559,366			31,559,366			31,774,140
Weighted average shares of common stock outstanding		31,559,366			31,579,457			31,829,250			31,600,442			31,598,650

SUMMARY RATIOS
Net interest margin *		3.98	%		3.95	%		4.07	%		3.96	%		4.14	%
Net interest margin (tax-equivalent basis) * ⁽¹⁾⁽²⁾		4.03			4.00			4.13			4.01			4.20

Efficiency ratio		54.24	%		52.61	%		51.85	%		55.00	%		57.73	%
Efficiency ratio (tax-equivalent basis) ⁽¹⁾⁽²⁾		53.71			52.10			51.25			54.45			57.04

Loan to deposit ratio		78.72	%		78.39	%		79.63	%

Return on average assets *		1.44	%		1.45	%		1.58	%		1.37	%		1.29	%
Return on average stockholders’ equity *		13.81			14.48			17.02			13.58			14.22
Return on average tangible common equity * ⁽¹⁾		16.25			17.21			20.70			16.11			17.17

Adjusted return on average assets * ⁽¹⁾		1.53	%		1.45	%		1.62	%		1.48	%		1.61	%
Adjusted return on average stockholders’ equity * ⁽¹⁾		14.62			14.54			17.51			14.62			17.68
Adjusted return on average tangible common equity * ⁽¹⁾		17.20			17.27			21.29			17.34			21.34

CAPITAL
Total capital to risk-weighted assets		16.54	%		16.01	%		15.09	%
Tier 1 capital to risk-weighted assets		14.48			13.98			13.18
Common equity tier 1 capital ratio		13.15			12.66			11.88
Tier 1 leverage ratio		11.16			10.83			10.34
Total stockholders’ equity to total assets		10.77			10.18			9.14
Tangible common equity to tangible assets ⁽¹⁾		9.35			8.74			7.64

ASSET QUALITY
Net charge-offs (recoveries) to average loans *		0.07	%		0.08	%		(0.01)	%		0.04	%		(0.01)	%
Allowance for credit losses to loans, before allowance for credit losses		1.22			1.21			1.16
Nonperforming loans to loans, before allowance for credit losses		0.24			0.25			0.20
Nonperforming assets to total assets		0.17			0.17			0.16

* Annualized measure.
(1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
(2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.

HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Statements of Income

	Three Months Ended									Nine Months Ended September 30,
(dollars in thousands, except per share data)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023
INTEREST AND DIVIDEND INCOME
Loans, including fees:
Taxable	$	53,650		$	52,177		$	49, 640		$	157,753		$	138,948
Federally tax exempt		1,133			1,097			1,072			3,324			3,064
Debt Securities:
Taxable		6,453			6,315			6,402			18,972			19,460
Federally tax exempt		502			521			978			1,620			3,337
Interest-bearing deposits in bank		2,230			2,570			714			6,752			2,234
Other interest and dividend income		149			144			235			481			545
Total interest and dividend income		64,117			62,824			59,041			188,902			167,588
INTEREST EXPENSE
Deposits		14,649			14,133			7,211			42,375			13,908
Securities sold under agreements to repurchase		134			129			35			415			107
Borrowings		119			121			2,108			365			5,594
Subordinated notes		470			469			470			1,409			1,409
Junior subordinated debentures issued to capital trusts		1,012			944			938			2,889			2,582
Total interest expense		16,384			15,796			10,762			47,453			23,600
Net interest income		47,733			47,028			48,279			141,449			143,988
PROVISION FOR CREDIT LOSSES		603			1,176			480			2,306			6,460
Net interest income after provision for credit losses		47,130			45,852			47,799			139,143			137,528
NONINTEREST INCOME
Card income		2,753			2,885			2,763			8,254			8,326
Wealth management fees		2,670			2,623			2,381			7,840			6,998
Service charges on deposit accounts		2,081			1,902			2,040			5,852			5,830
Mortgage servicing		1,113			1,111			1,169			3,279			3,522
Mortgage servicing rights fair value adjustment		(1,488	)		(97	)		23			(1,505	)		(460	)
Gains on sale of mortgage loans		461			443			476			1,202			1,125
Realized gains (losses) on sales of securities		—			—			(813	)		(3,382	)		(1,820	)
Unrealized gains (losses) on equity securities		136			(96	)		(46	)		24			(61	)
Gains (losses) on foreclosed assets		(44	)		(28	)		550			15			443
Gains (losses) on other assets		(2	)		—			52			(637	)		161
Income on bank owned life insurance		170			166			153			500			415
Other noninterest income		855			701			742			2,499			2,362
Total noninterest income		8,705			9,610			9,490			23,941			26,841
NONINTEREST EXPENSE
Salaries		16,325			16,364			15,644			49,346			51,715
Employee benefits		2,997			2,860			2,616			8,662			7,658
Occupancy of bank premises		2,695			2,243			2,573			7,520			7,460
Furniture and equipment		446			548			667			1,544			2,135
Data processing		2,640			2,606			2,581			8,171			9,787
Marketing and customer relations		1,380			996			1,679			3,372			3,874
Amortization of intangible assets		710			710			720			2,130			1,950
FDIC insurance		572			565			512			1,697			1,705
Loan collection and servicing		476			475			345			1,403			971
Foreclosed assets		19			10			76			78			234
Other noninterest expense		3,062			3,132			3,258			9,176			13,088
Total noninterest expense		31,322			30,509			30,671			93,099			100,577
INCOME BEFORE INCOME TAX EXPENSE		24,513			24,953			26,618			69,985			63,792
INCOME TAX EXPENSE		6,333			6,883			6,903			18,477			16,396
NET INCOME	$	18,180		$	18,070		$	19,715		$	51,508		$	47,396

EARNINGS PER SHARE – BASIC	$	0.58		$	0.57		$	0.62		$	1.63		$	1.50
EARNINGS PER SHARE – DILUTED	$	0.57		$	0.57		$	0.62		$	1.62		$	1.49
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING		31,559,366			31,579,457			31,829,250			31,600,442			31,598,650

HBT Financial, Inc. Unaudited Consolidated Financial Summary Consolidated Balance Sheets

(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023
ASSETS
Cash and due from banks	$	26,776		$	22,604		$	24,757
Interest-bearing deposits with banks		152,895			172,636			87,156
Cash and cash equivalents		179,671			195,240			111,913

Interest-bearing time deposits with banks		—			520			500
Debt securities available-for-sale, at fair value		710,303			669,055			753,163
Debt securities held-to-maturity		505,075			512,549			527,144
Equity securities with readily determinable fair value		3,364			3,228			3,106
Equity securities with no readily determinable fair value		2,638			2,613			2,300
Restricted stock, at cost		5,086			5,086			11,165
Loans held for sale		2,959			858			3,563

Loans, before allowance for credit losses		3,369,830			3,385,483			3,342,786
Allowance for credit losses		(40,966	)		(40,806	)		(38,863	)
Loans, net of allowance for credit losses		3,328,864			3,344,677			3,303,923

Bank owned life insurance		24,405			24,235			23,747
Bank premises and equipment, net		65,919			65,711			64,713
Bank premises held for sale		317			317			35
Foreclosed assets		376			320			1,519
Goodwill		59,820			59,820			59,820
Intangible assets, net		18,552			19,262			21,402
Mortgage servicing rights, at fair value		17,496			18,984			20,156
Investments in unconsolidated subsidiaries		1,614			1,614			1,614
Accrued interest receivable		24,160			22,425			23,447
Other assets		40,109			59,685			58,538
Total assets	$	4,990,728		$	5,006,199		$	4,991,768

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Deposits:
Noninterest-bearing	$	1,008,359		$	1,045,697		$	1,086,877
Interest-bearing		3,272,341			3,272,996			3,111,191
Total deposits		4,280,700			4,318,693			4,198,068

Securities sold under agreements to repurchase		29,029			29,330			28,900
Federal Home Loan Bank advances		13,435			13,734			177,650
Subordinated notes		39,533			39,514			39,454
Junior subordinated debentures issued to capital trusts		52,834			52,819			52,774
Other liabilities		37,535			42,640			38,671
Total liabilities		4,453,066			4,496,730			4,535,517

Stockholders’ Equity
Common stock		328			328			327
Surplus		296,810			296,430			295,483
Retained earnings		302,532			290,386			256,050
Accumulated other comprehensive income (loss)		(38,989	)		(54,656	)		(78,432	)
Treasury stock at cost		(23,019	)		(23,019	)		(17,177	)
Total stockholders’ equity		537,662			509,469			456,251
Total liabilities and stockholders’ equity	$	4,990,728		$	5,006,199		$	4,991,768
SHARES OF COMMON STOCK OUTSTANDING		31,559,366			31,559,366			31,774,140

HBT Financial, Inc. Unaudited Consolidated Financial Summary

(dollars in thousands)	September 30, 2024		June 30, 2024		September 30, 2023

LOANS
Commercial and industrial	$	395,598	$	400,276	$	386,933
Commercial real estate – owner occupied		288,838		289,992		297,242
Commercial real estate – non-owner occupied		889,188		889,193		901,929
Construction and land development		359,151		365,371		371,158
Multi-family		432,712		429,951		388,742
One-to-four family residential		472,040		484,335		488,655
Agricultural and farmland		297,102		285,822		275,239
Municipal, consumer, and other		235,201		240,543		232,888
Total loans	$	3,369,830	$	3,385,483	$	3,342,786

(dollars in thousands)	September 30, 2024		June 30, 2024		September 30, 2023

DEPOSITS
Noninterest-bearing deposits	$	1,008,359	$	1,045,697	$	1,086,877
Interest-bearing deposits:
Interest-bearing demand		1,076,445		1,094,797		1,134,721
Money market		795,150		769,386		673,780
Savings		566,783		582,752		623,083
Time		803,964		796,069		564,634
Brokered		29,999		29,992		114,973
Total interest-bearing deposits		3,272,341		3,272,996		3,111,191
Total deposits	$	4,280,700	$	4,318,693	$	4,198,068

HBT Financial, Inc. Unaudited Consolidated Financial Summary

	Three Months Ended
	September 30, 2024							June 30, 2024							September 30, 2023
(dollars in thousands)	Average Balance			Interest		Yield/Cost *		Average Balance			Interest		Yield/Cost *		Average Balance			Interest		Yield/Cost *

ASSETS
Loans	$	3,379,299		$	54,783	6.45	%	$	3,374,058		$	53,274	6.35	%	$	3,296,703		$	50,712	6.10	%
Debt Securities		1,191,642			6,955	2.32			1,187,795			6,836	2.31			1,317,603			7,380	2.22
Deposits with banks		185,870			2,230	4.77			211,117			2,570	4.90			77,595			714	3.65
Other		12,660			149	4.68			12,588			144	4.60			16,430			235	5.68
Total interest-earning assets		4,769,471		$	64,117	5.35	%		4,785,558		$	62,824	5.28	%		4,708,331		$	59,041	4.97	%
Allowance for credit losses		(40,780	)						(40,814	)						(38,317	)
Noninterest-earning assets		278,030							283,103							294,818
Total assets	$	5,006,721						$	5,027,847						$	4,964,832

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Interest-bearing deposits:
Interest-bearing demand	$	1,085,609		$	1,408	0.52	%	$	1,123,592		$	1,429	0.51	%	$	1,160,654		$	761	0.26	%
Money market		800,651			4,726	2.35			788,744			4,670	2.38			682,772			2,026	1.18
Savings		573,077			396	0.27			592,312			393	0.27			639,384			249	0.15
Time		804,379			7,702	3.81			763,507			7,117	3.75			519,683			3,275	2.50
Brokered		29,996			417	5.54			38,213			524	5.51			66,776			900	5.34
Total interest-bearing deposits		3,293,712			14,649	1.77			3,306,368			14,133	1.72			3,069,269			7,211	0.93
Securities sold under agreements to repurchase		29,426			134	1.80			30,440			129	1.70			33,807			35	0.41
Borrowings		13,691			119	3.47			13,466			121	3.60			157,908			2,108	5.30
Subordinated notes		39,524			470	4.73			39,504			469	4.78			39,444			470	4.72
Junior subordinated debentures issued to capital trusts		52,827			1,012	7.63			52,812			944	7.18			52,767			938	7.05
Total interest-bearing liabilities		3,429,180		$	16,384	1.90	%		3,442,590		$	15,796	1.85	%		3,353,195		$	10,762	1.27	%
Noninterest-bearing deposits		1,013,893							1,043,614							1,105,472
Noninterest-bearing liabilities		39,903							39,806							46,564
Total liabilities		4,482,976							4,526,010							4,505,231
Stockholders’ Equity		523,745							501,837							459,601
Total liabilities and stockholders’ equity	$	5,006,721						$	5,027,847						$	4,964,832

Net interest income/Net interest margin ⁽¹⁾				$	47,733	3.98	%				$	47,028	3.95	%				$	48,279	4.07	%
Tax-equivalent adjustment ⁽²⁾					552	0.05						553	0.05						675	0.06
Net interest income (tax-equivalent basis)/ Net interest margin (tax-equivalent basis) ^{(2) (3)}				$	48,285	4.03	%				$	47,581	4.00	%				$	48,954	4.13	%
Net interest rate spread ⁽⁴⁾						3.45	%						3.43	%						3.70	%
Net interest-earning assets ⁽⁵⁾	$	1,340,291						$	1,342,968						$	1,355,136
Ratio of interest-earning assets to interest-bearing liabilities		1.39							1.39							1.40
Cost of total deposits						1.35	%						1.31	%						0.69	%
Cost of funds						1.47							1.42							0.96

* Annualized measure.
(1) Net interest margin represents net interest income divided by average total interest-earning assets.
(2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%.
(3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
(4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.

HBT Financial, Inc. Unaudited Consolidated Financial Summary

	Nine Months Ended
	September 30, 2024							September 30, 2023
(dollars in thousands)	Average Balance			Interest		Yield/Cost *		Average Balance			Interest		Yield/Cost *

ASSETS
Loans	$	3,374,875		$	161,077	6.38	%	$	3,183,641		$	142,012	5.96	%
Debt Securities		1,197,772			20,592	2.30			1,366,298			22,797	2.23
Deposits with banks		188,087			6,752	4.80			84,720			2,234	3.53
Other		12,744			481	5.04			15,334			545	4.75
Total interest-earning assets		4,773,478		$	188,902	5.29	%		4,649,993		$	167,588	4.82	%
Allowance for credit losses		(40,611	)						(37,053	)
Noninterest-earning assets		279,789							289,843
Total assets	$	5,012,656						$	4,902,783

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Interest-bearing deposits:
Interest-bearing demand	$	1,112,198		$	4,148	0.50	%	$	1,204,937		$	1,902	0.21	%
Money market		800,693			14,193	2.37			664,036			4,467	0.90
Savings		592,134			1,232	0.28			678,495			616	0.12
Time		744,349			20,744	3.72			441,760			6,011	1.82
Brokered		50,046			2,058	5.49			22,987			912	5.30
Total interest-bearing deposits		3,299,420			42,375	1.72			3,012,215			13,908	0.62
Securities sold under agreements to repurchase		30,769			415	1.80			35,844			107	0.40
Borrowings		13,387			365	3.64			148,443			5,594	5.04
Subordinated notes		39,504			1,409	4.76			39,424			1,409	4.78
Junior subordinated debentures issued to capital trusts		52,812			2,889	7.31			51,054			2,582	6.76
Total interest-bearing liabilities		3,435,892		$	47,453	1.84	%		3,286,980		$	23,600	0.96	%
Noninterest-bearing deposits		1,031,239							1,123,917
Noninterest-bearing liabilities		38,943							46,310
Total liabilities		4,506,074							4,457,207
Stockholders’ Equity		506,582							445,576
Total liabilities and stockholders’ equity	$	5,012,656							4,902,783

Net interest income/Net interest margin ⁽¹⁾				$	141,449	3.96	%				$	143,988	4.14	%
Tax-equivalent adjustment ⁽²⁾					1,680	0.05						2,092	0.06
Net interest income (tax-equivalent basis)/ Net interest margin (tax-equivalent basis) ^{(2) (3)}				$	143,129	4.01	%				$	146,080	4.20	%
Net interest rate spread ⁽⁴⁾						3.45	%						3.86	%
Net interest-earning assets ⁽⁵⁾	$	1,337,586						$	1,363,013
Ratio of interest-earning assets to interest-bearing liabilities		1.39							1.41
Cost of total deposits						1.31	%						0.45	%
Cost of funds						1.42							0.72

* Annualized measure.
(1) Net interest margin represents net interest income divided by average total interest-earning assets.
(2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%.
(3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
(4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities.

HBT Financial, Inc. Unaudited Consolidated Financial Summary

(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023

NONPERFORMING ASSETS
Nonaccrual	$	8,200		$	8,425		$	6,678
Past due 90 days or more, still accruing		5			7			—
Total nonperforming loans		8,205			8,432			6,678
Foreclosed assets		376			320			1,519
Total nonperforming assets	$	8,581		$	8,752		$	8,197

Nonperforming loans that are wholly or partially guaranteed by the U.S. Government	$	2,046		$	2,132		$	1,968

Allowance for credit losses	$	40,966		$	40,806		$	38,863
Loans, before allowance for credit losses		3,369,830			3,385,483			3,342,786

CREDIT QUALITY RATIOS
Allowance for credit losses to loans, before allowance for credit losses		1.22	%		1.21	%		1.16	%
Allowance for credit losses to nonaccrual loans		499.59			484.34			581.96
Allowance for credit losses to nonperforming loans		499.28			483.94			581.96
Nonaccrual loans to loans, before allowance for credit losses		0.24			0.25			0.20
Nonperforming loans to loans, before allowance for credit losses		0.24			0.25			0.20
Nonperforming assets to total assets		0.17			0.17			0.16
Nonperforming assets to loans, before allowance for credit losses, and foreclosed assets		0.25			0.26			0.25

HBT Financial, Inc. Unaudited Consolidated Financial Summary

	Three Months Ended									Nine Months Ended September 30,
(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023

ALLOWANCE FOR CREDIT LOSSES
Beginning balance	$	40,806		$	40,815		$	37,814		$	40,048		$	25,333
Adoption of ASC 326		—			—			—			—			6,983
PCD allowance established in acquisition		—			—			—			—			1,247
Provision for credit losses		746			677			983			1,983			5,004
Charge-offs		(1,101	)		(870	)		(412	)		(2,198	)		(733	)
Recoveries		515			184			478			1,133			1,029
Ending balance	$	40,966		$	40,806		$	38,863		$	40,966		$	38,863

Net charge-offs (recoveries)	$	586		$	686		$	(66	)	$	1,065		$	(296	)
Average loans		3,379,299			3,374,058			3,296,703			3,374,875			3,183,641

Net charge-offs (recoveries) to average loans *		0.07	%		0.08	%		(0.01)	%		0.04	%		(0.01)	%

* Annualized measure.

	Three Months Ended								Nine Months Ended September 30,
(dollars in thousands)	September 30, 2024			June 30, 2024		September 30, 2023				2024		2023

PROVISION FOR CREDIT LOSSES
Loans ⁽¹⁾	$	746		$	677	$	983		$	1,983	$	5,004
Unfunded lending-related commitments ⁽¹⁾		(143	)		499		297			323		1,456
Debt securities		—			—		(800	)		—		—
Total provision for credit losses	$	603		$	1,176	$	480		$	2,306	$	6,460

(1) Includes recognition of an allowance for credit losses on non-PCD loans of $5.2 million and an allowance for credit losses on unfunded commitments of $0.7 million in connection with the Town and Country merger during the first quarter of 2023.

Reconciliation of Non-GAAP Financial Measures – Adjusted Net Income and Adjusted Return on Average Assets
	Three Months Ended									Nine Months Ended September 30,
(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023

Net income	$	18,180		$	18,070		$	19,715		$	51,508		$	47,396
Adjustments:
Acquisition expenses ⁽¹⁾		—			—			—			—			(13,691	)
Gains (losses) on closed branch premises		—			—			—			(635	)		75
Realized gains (losses) on sales of securities		—			—			(813	)		(3,382	)		(1,820	)
Mortgage servicing rights fair value adjustment		(1,488	)		(97	)		23			(1,505	)		(460	)
Total adjustments		(1,488	)		(97	)		(790	)		(5,522	)		(15,896	)
Tax effect of adjustments ⁽²⁾		424			28			226			1,574			4,382
Total adjustments after tax effect		(1,064	)		(69	)		(564	)		(3,948	)		(11,514	)
Adjusted net income	$	19,244		$	18,139		$	20,279		$	55,456		$	58,910

Average assets	$	5,006,721		$	5,027,847		$	4,964,832		$	5,012,656		$	4,902,783

Return on average assets *		1.44	%		1.45	%		1.58	%		1.37	%		1.29	%
Adjusted return on average assets *		1.53			1.45			1.62			1.48			1.61

* Annualized measure.
(1) Includes recognition of an allowance for credit losses on non-PCD loans of $5.2 million and an allowance for credit losses on unfunded commitments of $0.7 million in connection with the Town and Country merger during the first quarter of 2023.
(2) Assumes a federal income tax rate of 21% and a state tax rate of 9.5%.

Reconciliation of Non-GAAP Financial Measures – Adjusted Earnings Per Share — Basic and Diluted
	Three Months Ended							Nine Months Ended September 30,
(dollars in thousands, except per share amounts)	September 30, 2024		June 30, 2024		September 30, 2023				2024		2023

Numerator:
Net income	$	18,180	$	18,070	$	19,715		$	51,508	$	47,396
Earnings allocated to participating securities ⁽¹⁾		—		—		(10	)		—		(26	)
Numerator for earnings per share – basic and diluted	$	18,180	$	18,070	$	19,705		$	51,508	$	47,370

Adjusted net income	$	19,244	$	18,139	$	20,279		$	55,456	$	58,910
Earnings allocated to participating securities ⁽¹⁾		—		—		(10	)		—		(33	)
Numerator for adjusted earnings per share – basic and diluted	$	19,244	$	18,139	$	20,269		$	55,456	$	58,877

Denominator:
Weighted average common shares outstanding		31,559,366		31,579,457		31,829,250			31,600,442		31,598,650
Dilutive effect of outstanding restricted stock units		118,180		87,354		137,187			115,266		102,574
Weighted average common shares outstanding, including all dilutive potential shares		31,677,546		31,666,811		31,966,437			31,715,708		31,701,224

Earnings per share – Basic	$	0.58	$	0.57	$	0.62		$	1.63	$	1.50
Earnings per share – Diluted	$	0.57	$	0.57	$	0.62		$	1.62	$	1.49

Adjusted earnings per share – Basic	$	0.61	$	0.57	$	0.64		$	1.75	$	1.86
Adjusted earnings per share – Diluted	$	0.61	$	0.57	$	0.63		$	1.75	$	1.86

(1) The Company previously granted restricted stock units that contain non-forfeitable rights to dividend equivalents, which were considered participating securities. Prior to 2024, these restricted stock units were included in the calculation of basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings.

Reconciliation of Non-GAAP Financial Measures – Net Interest Income (Tax-equivalent Basis) and Net Interest Margin (Tax-equivalent Basis)
	Three Months Ended									Nine Months Ended September 30,
(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023

Net interest income (tax-equivalent basis)
Net interest income	$	47,733		$	47,028		$	48,279		$	141,449		$	143,988
Tax-equivalent adjustment ⁽¹⁾		552			553			675			1,680			2,092
Net interest income (tax-equivalent basis) ⁽¹⁾	$	48,285		$	47,581		$	48,954		$	143,129		$	146,080

Net interest margin (tax-equivalent basis)
Net interest margin *		3.98	%		3.95	%		4.07	%		3.96	%		4.14	%
Tax-equivalent adjustment * ⁽¹⁾		0.05			0.05			0.06			0.05			0.06
Net interest margin (tax-equivalent basis) * ⁽¹⁾		4.03	%		4.00	%		4.13	%		4.01	%		4.20	%

Average interest-earning assets	$	4,769,471		$	4,785,558		$	4,708,331		$	4,773,478		$	4,649,993

* Annualized measure.
(1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.

Reconciliation of Non-GAAP Financial Measures – Efficiency Ratio (Tax-equivalent Basis)
	Three Months Ended									Nine Months Ended September 30,
(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023

Efficiency ratio (tax-equivalent basis)
Total noninterest expense	$	31,322		$	30,509		$	30,671		$	93,099		$	100,577
Less: amortization of intangible assets		710			710			720			2,130			1,950
Noninterest expense excluding amortization of intangible assets	$	30,612		$	29,799		$	29,951		$	90,969		$	98,627

Net interest income	$	47,733		$	47,028		$	48,279		$	141,449		$	143,988
Total noninterest income		8,705			9,610			9,490			23,941			26,841
Operating revenue		56,438			56,638			57,769			165,390			170,829
Tax-equivalent adjustment ⁽¹⁾		552			553			675			1,680			2,092
Operating revenue (tax-equivalent basis) ⁽¹⁾	$	56,990		$	57,191		$	58,444		$	167,070		$	172,921

Efficiency ratio		54.24	%		52.61	%		51.85	%		55.00	%		57.73	%
Efficiency ratio (tax-equivalent basis) ⁽¹⁾		53.71			52.10			51.25			54.45			57.04

(1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.

Reconciliation of Non-GAAP Financial Measures – Ratio of Tangible Common Equity to Tangible Assets and Tangible Book Value Per Share
(dollars in thousands, except per share data)	September 30, 2024			June 30, 2024			September 30, 2023

Tangible Common Equity
Total stockholders’ equity	$	537,662		$	509,469		$	456,251
Less: Goodwill		59,820			59,820			59,820
Less: Intangible assets, net		18,552			19,262			21,402
Tangible common equity	$	459,290		$	430,387		$	375,029

Tangible Assets
Total assets	$	4,990,728		$	5,006,199		$	4,991,768
Less: Goodwill		59,820			59,820			59,820
Less: Intangible assets, net		18,552			19,262			21,402
Tangible assets	$	4,912,356		$	4,927,117		$	4,910,546

Total stockholders’ equity to total assets		10.77	%		10.18	%		9.14	%
Tangible common equity to tangible assets		9.35			8.74			7.64

Shares of common stock outstanding		31,559,366			31,559,366			31,774,140

Book value per share	$	17.04		$	16.14		$	14.36
Tangible book value per share		14.55			13.64			11.80

Reconciliation of Non-GAAP Financial Measures – Return on Average Tangible Common Equity, Adjusted Return on Average Stockholders’ Equity and Adjusted Return on Average Tangible Common Equity

	Three Months Ended									Nine Months Ended September 30,
(dollars in thousands)	September 30, 2024			June 30, 2024			September 30, 2023				2024			2023

Average Tangible Common Equity
Total stockholders’ equity	$	523,745		$	501,837		$	459,601		$	506,582		$	445,576
Less: Goodwill		59,820			59,820			59,875			59,820			56,406
Less: Intangible assets, net		18,892			19,605			21,793			19,607			20,005
Average tangible common equity	$	445,033		$	422,412		$	377,933		$	427,155		$	369,165

Net income	$	18,180		$	18,070		$	19,715		$	51,508		$	47,396
Adjusted net income		19,244			18,139			20,279			55,456			58,910

Return on average stockholders’ equity *		13.81	%		14.48	%		17.02	%		13.58	%		14.22	%
Return on average tangible common equity *		16.25			17.21			20.70			16.11			17.17

Adjusted return on average stockholders’ equity *		14.62	%		14.54	%		17.51	%		14.62	%		17.68	%
Adjusted return on average tangible common equity *		17.20			17.27			21.29			17.34			21.34

* Annualized measure.

The MIL Network –

January 24, 2025

MIL-OSI Africa: Afreximbank Acts as Joint Lead Manager on Ecobank Transnational Incorporated’s USD 400mn Senior Unsecured Note Issuance

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

CAIRO, Egypt, October 21, 2024/APO Group/ —

African Export-Import Bank (“Afreximbank”) (www.Afreximbank.com) is pleased to announce that it has successfully acted as Joint Lead Manager and Bookrunner on a USD 400 million 10.125% Rule 144a/RegS senior unsecured note issuance by Ecobank Transnational Incorporated (“ETI”) due in October 2029.

The proceeds of the note will fund general corporate purposes of the issuer, including refinancing of a USD350 million senior bridge-to-bond loan facility that was jointly coordinated by Afreximbank in March 2024.

The note issuance achieved peak orderbook oversubscription of 2.1x, backed by more than 70 high-quality and diverse investors comprising development finance institutions, asset managers, commercial banks and insurance companies from Africa, the UK, USA, Europe and the Middle East.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commenting on the transaction, said: “We are pleased to have supported Ecobank Transnational Incorporated (“ETI”) in placing the first public Eurobond issuance by any Sub-Saharan African financial institution since 2021, following our bridge financing support earlier in the year. This transaction underscores Afreximbank’s capacity and readiness to structure innovative market access solutions for our pan-African banking partners.”

Afreximbank’s Advisory and Capital Markets (ACMA) department acted as Joint Lead Manager and Bookrunner on the issuance, working alongside international and African partners.

MIL OSI Africa –

January 24, 2025

MIL-OSI China: Lebanon condemns Israel’s repeated attacks on UNIFIL positions

Source: China State Council Information Office

The United Nations Interim Force in Lebanon (UNIFIL) vehicles are on patrol in Marjayoun, Lebanon, Aug. 28, 2024. [Photo/Xinhua]

The Lebanese Ministry of Foreign Affairs and Emigrants on Monday condemned Israel’s repeated attacks on personnel and positions of the United Nations Interim Force In Lebanon (UNIFIL), calling on the international community to take a firm stance to support peacekeeping forces.

In a statement released Monday, the ministry said “these attacks and actions do not merely represent targeting international forces, but also constitute a flagrant violation of international law and international humanitarian law, and may amount to a war crime.”

The ministry urged the international community to safeguard UNIFIL’s operations, ensuring their security is neither compromised nor threatened. It called for the condemnation of Israel and demanded an immediate halt to its hostile actions against the peacekeeping forces.

In recent days, Israeli forces have repeatedly targeted UNIFIL positions in southern Lebanon, resulting in injuries to peacekeepers and drawing international criticism.

On Sunday, a bulldozer of the Israel Defense Forces demolished an observation tower and perimeter fence at a UNIFIL post in the southern Lebanese town of Marwahin.

MIL OSI China News –

January 24, 2025

MIL-OSI China: Delegates from Islamic body hail Xinjiang’s stability, development

Source: China State Council Information Office 3

Performers dance at the grand bazaar in Urumqi, northwest China’s Xinjiang Uygur Autonomous Region, Jan. 23, 2023. [Photo/Xinhua]

A 32-member delegation, including representatives of multiple countries of the Organization of Islamic Cooperation (OIC) and officials of the OIC General Secretariat, visited northwest China’s Xinjiang Uygur Autonomous Region from Oct. 16 to 19 at the invitation of China’s Ministry of Foreign Affairs.

The delegates toured cities like Turpan, Hami and the regional capital Urumqi, expressing their admiration for the social stability, harmony and collaborative development among the region’s diverse ethnic groups.

The delegates emphasized the potential for collaboration in counter-terrorism, development and combating misinformation, underscoring the importance of international unity in the fight against terrorism.

After visiting an exhibition on counter-terrorism and de-radicalization efforts in Xinjiang, Boubacar Gouro Diall, Mali’s representative to the OIC, stressed the importance of the shared global fight against terrorism. He noted that countries must unite to combat this threat while cautioning that some countries covertly instigate terrorism to undermine the stability of others and seize their resources.

The Malian diplomat said that China is not the sole victim of misinformation and called for greater international cooperation to counter false narratives.

Coulibaly Drissa, Cote d’Ivoire’s representative to OIC, stressed that social stability is crucial for sustained development. “Social stability is very important everywhere in the world. Only with social stability can we promote global peace.”

Tourists visit the ancient city of Kashgar in northwest China’s Xinjiang Uygur Autonomous Region, Sept. 19, 2024. [Photo/Xinhua]

The delegation also visited local mosques and Islamic institutes, with Tajikistan’s OIC representative, Akram Karimi, hailing the Chinese government’s commitment to protecting human rights and ensuring religious freedom. He praised the efforts to preserve the cultural traditions and heritage of Xinjiang’s ethnic minorities.

During visits to local e-commerce enterprises and solar energy facilities, many representatives expressed interest in expanding economic cooperation with Xinjiang. Cameroonian diplomat Dewa Moustafa emphasized the potential for collaboration in the energy sector, particularly given his country’s rich solar resources.

“The northern region of Cameroon also has abundant solar energy resources, but they are not being effectively utilized, leading to a power shortage. I hope my country can collaborate with the local government of Xinjiang in the energy sector,” Moustafa said.

Hani Abdulwhab M. Kashif, Saudi Arabia’s deputy OIC representative, lauded Xinjiang’s achievements, calling them a source of pride not only for China but also for its friends. He underscored the importance of increased interaction to present a more accurate picture of Xinjiang to the world.

Many delegates, including Naser Kamali Dolat Abadi, Iran’s acting representative to the OIC, have visited Xinjiang more than once and expressed their admiration for the positive atmosphere among local residents striving for a better life.

Xinjiang is experiencing rapid development, with diverse ethnic groups preserving their unique cultures while enjoying a high quality of life, the Iranian diplomat said.

MIL OSI China News –

January 24, 2025

MIL-OSI: Wearable Devices Unveils Foundational White Paper on the Future of Gesture Control and Neural Interfaces

Source: GlobeNewswire (MIL-OSI)

Yokneam Ilit, Israel, Oct. 21, 2024 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, announced the release of a landmark white paper titled, “Elevating AR Glasses User Experience with Gesture Control and Neural Wristband.” The white paper provides an in-depth and definitive analysis of emerging trends in gesture control technology, comparing camera-based solutions with wearable neural interfaces that present a clear case for the future of seamless, wrist-worn input control.

This sweeping industry and technology analysis draws on Wearable Devices’ decade of experience developing pioneering human-computer interaction (HCI) solutions, including the Company’s award-winning Mudra Band, the world’s first neural interface wristband. Wearable Devices’ thought leadership highlights not only the current landscape of gesture control for face-worn devices but also identifies critical challenges and opportunities for improving usability, comfort and interaction quality.

“Our far-reaching history in developing neural gesture-control technology uniquely positions Wearable Devices to provide this rigorous level of analysis,” said Wearable Devices Chief Executive Officer Asher Dahan. “Our Mudra technology represents a step forward in creating fluid and precise interactions with augmented reality (“AR”) glasses, eliminating the limitations of conventional input systems. This white paper offers key insights that help businesses and developers envision new ways to create user experiences where technology becomes an extension of natural human movement.”

Key Findings from the White Paper

Shift to Wearable Gesture Control for Comfort and Precision

Traditional camera-based gesture systems often require users to maintain awkward postures or suffer from fatigue (the “gorilla arm” problem). Wearable Devices’ white paper concludes that shifting input functions to wrist-worn devices like the Company’s Mudra Band (iOS) and Mudra Link (Android) creates more natural, comfortable and sustainable user experiences.

Extended Functionality with Sensor Fusion

Both the Mudra Band and Mudra Link use AI, inertial measurement units (IMU) and surface nerve conductance (SNC) sensors to deliver accurate navigation and input control through wrist movements and subtle finger gestures. The white paper emphasizes that this combination enhances precision and extends functionality beyond what camera-based systems can achieve by capturing delicate movements like pinches and fingertip pressure.

Overcoming the Limitations of Field-of-View Boundaries

Face-worn devices equipped with cameras are inherently limited by their field of view (FOV) which restricts gesture detection. Mudra Band and Mudra Link eliminate this constraint by placing sensors on the wrist, enabling gesture control even when the hands are outside the camera’s view. The white paper concludes that this ability significantly improves user interaction by allowing more fluid, uninterrupted workflows.

Bridging the Gap Between Device Types

The analysis highlights how wearable input technologies can unify different face-worn devices—such as smart glasses, monocular heads-up displays and mixed reality headsets—by offering a common, adaptable interface. Mudra Band and Mudra Link both provide discrete gestures (e.g., tap, flick, pinch) suitable for minimal displays as well as point and drag gestures optimized for immersive AR and mixed reality systems.

Reducing Device Weight and Complexity for Mass Adoption

Wearable Devices’ study concludes that placing input-related hardware on the wrist rather than the face will drive widespread adoption of AR glasses. By offloading sensors and processors to a neural wristband, manufacturers can design lighter, more comfortable glasses with extended battery life, addressing major consumer pain points identified in competing products like the Apple Vision Pro and Meta Orion.

Toward a New Standard in Human-Computer Interaction

Wearable Devices asserts in the white paper that the neural interface is not only a technical upgrade but also a philosophical shift—moving technology away from intrusive control schemes and toward seamless, intuitive interactions. This evolution supports the development of technology that responds naturally to human movement, setting a new standard in human-computer interaction.

Additional Insights and Market Context

The white paper also provides detailed comparisons between major products including Apple’s Vision Pro and Meta’s Orion glasses, exploring the trade-offs between camera-based and wearable neural gesture control wristband. The document concludes that while camera-based systems offer initial convenience, neural wearable interfaces will prevail as the gold standard as users seek more practical and comfortable input methods for all-day wear.

By publicly releasing this white paper to the AR industry, Wearable Devices reaffirms its role as a pioneer in neural gesture control and as a leader in shaping the future of wearable technology. Businesses, developers and innovators are invited to download the full white paper to explore in-depth analyses, research findings and actionable insights.

The white paper is now available for download on the Wearable Devices website https://www.wearabledevices.co.il/whitepaper

About Wearable Devices Ltd.

Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

Forward-Looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits and advantages of our devices and technology; our position as a pioneer in neural gesture control and as a leader in shaping the future of wearable technology; our ability to identify critical challenges and opportunities in the human-computer interaction (HCI) solutions; and the potential of the white paper to help businesses and developers envision new ways to create AR user experiences. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations Contact

Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com

Media Contact:

Steve Schuster
Rainier Communications
steve@rainierco.com
+1-508-868-5892

The MIL Network –

January 24, 2025

MIL-OSI Russia: With the support of Rosneft, Tatyana Navka’s ice show toured India with success

Translation. Region: Russian Federation –

Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

With the support of Rosneft, Tatyana Navka’s ice show “The Love Story of Scheherazade” toured in the Indian city of Ahmedabad (Gujarat) from December 18 to 20. Ice shows were held in India for the first time.

Musical performances based on Arabian tales and the novels “A Thousand and One Nights” took place at the sports stadium EKA ARENA. An ice rink was installed at the stadium especially for the show, for the creation of which more than 100 tons of real ice were used.

The audience had a unique opportunity to feel the atmosphere of several Eastern cultures at once: India, Egypt, Ancient Babylon and Persia, and also to see unique special effects and costumes, to appreciate the skills of famous Russian figure skaters. The show was attended by stars of world figure skating, multiple champions of Russia, Europe and the world, Olympic champions. Among them were the author of the idea, director and general producer of the project Tatyana Navka, as well as Victoria Sinitsina, Nikita Katsalapov, Povilas Vanagas, Ivan Righini, Egor Murashov and many others.

The show aroused great interest among the people of India. Spectators travelled from New Delhi, Mumbai and other cities of the country to see the ice show in Ahmedabad. The show was also attended by Indian politicians and representatives of the business community.

All five performances of the ice show were sold out. Most of the viewers saw ice for the first time. And the highest skill of the skaters and unique special effects caused thunderous applause throughout the show. At the same time, after the performance, the viewers were in no hurry to leave and thanked the artists for the unique performance.

Rosneft actively supports significant cultural projects and contributes to the development of cultural ties between Russia and other countries. Thanks to the Company, large-scale projects aimed at reviving spiritual and national values are being implemented. Among such projects are support for the Sretensky Monastery Choir, the State Hermitage Museum, the White Steamship project, and much more. Earlier, with the participation of Rosneft, Tatyana Navka’s ice show Evenings on a Farm based on the works of N.V. Gogol was shown in Moscow.

Department of Information and Advertising of PJSC NK Rosneft October 21, 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.

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

http://vvv.rosneft.ru/press/nevs/item/220931/

MIL OSI Russia News –

January 24, 2025

MIL-OSI United Kingdom: Coventry loan shark jailed

Source: City of Coventry

A 38-year-old man who operated as a loan shark in Coventry has been sentenced to 31 months in prison and handed a Criminal Behaviour Order in a first for the national Illegal Money Lending Team.

James Ringrose lent thousands of pounds to people, including workmates, charging ‘exorbitant’ interest rates and putting pressure on them to make them pay, Warwick Crown Court heard. He left borrowers feeling distraught and even suicidal as they struggled to pay him back.

Ringrose admitted two charges of illegal money lending and money laundering following an investigation by the England Illegal Money Lending Team (IMLT) and appeared before the court to be sentenced on Friday. (October 18)

The case was prosecuted by the IMLT in partnership with Coventry Trading Standards and West Midlands Police.

Mr Jonathan Barker, prosecuting on behalf of the IMLT, told the court Ringrose was operating as a loan shark between 2016 and July 2024 and used some of the proceeds to fund a house extension and cosmetic procedures in Turkey.

Ringrose was not authorised by the Financial Condict Authority to lend money, which meant he could charge whatever he wanted and did not have to abide by the rules that protect borrowers.

Mr Barker said one of Ringrose’s borrowers was a workmate who needed some cash but could not get a loan through a mainstream lender. He borrowed £40 and repaid £60. A few weeks later borrowed a further £100 and told to repay £140. The borrowing continued and by 2019 he was repaying Ringrose £400 a month.

Mr Barker said the borrower would go to a cashpoint and meet Ringrose, who had a clipboard and crossed his name off when he handed over cash. He said Ringrose also asked this borrower to withdraw using debit cards belonging to other people.

Mr Barker said the borrowing ‘spiralled out of control’. He was never given any paperwork and never knew exactly how much he owed.

Another colleague who needed money to repair a vehicle, borrowed £200 and was told she would have to repay £280 by the end of the month. She later took another loan on the same terms and when she struggled to repay, they came to an agreement where she was repaying £80 a month. Mr Barker said she was so scared of repercussions she continued to make payments for three years, significantly more than the original sum.

After an initial investigation by the IMLT, Ringrose was arrested at an address in Barons Croft, Nuneaton.

Analysis of his accounts showed that since November 2016 there were 317 third party credits totalling more than £80,000, 29 cash credits of over £17,000, 63 third party debits totalling just over £4,500 and 626 cash withdrawals worth over £90,000. There were at least 20 names associated with the transactions.

He was bailed but the court heard he continued to provide and collect on unauthorised loans to around 10 people, for more than £15,000.

In July 2024, he was arrested again following a warrant at an address in The Barley Lea, Coventry. During a search of property IMLT officers recovered loan records hidden under the carpet of the bottom stair in a folder.

New analysis of his bank accounts showed that since May 2023, there were 39 third party credits of just under £3,500, 94 third party debits of over £5,700 and 22 cash withdrawals worth just over £1,000.

Mr Barker said this showed part of the picture as the defendant would have conducted loan activity in cash.

The court heard another borrower borrowed £1,000 in various instalments and was charged double interest on anything over £100, which led her into a cycle of debt.

Mr Barker said: “She estimates that over the years she has borrowed a total of £5,000 and has already paid over £50,000 back, but the defendant had stated she still owes him over £60,000. She states for years she endured constant harassment from the defendant. This includes him persistently contacting her via phone, turning up outside her work address, forcing her to provide bank statements and wage slips to show what funds she has, entering her home without her permission following her and taking her to cash machines to withdraw funds.”

He said on one occasion Ringrose followed her around Coventry, shouted at her in the street and threatened her partner in order to get her to pay.

He said another workmate borrowed £3,000, adding: “He states that the defendant never kept his illegal money lending business a secret and was actually quite boastful about it. Ringrose told him that he would operate like a ‘payday loan lender’ and after collecting payments from people, they would have to borrow again from him immediately. He boasted that he had a constant stream of income.”

Mr Barker added: “The prosecution case is that the loan business was lucrative. The defendant would brag to others about how lucrative it was. It helped him fund an extension to his property and pay for cosmetic treatments in Turkey.”

Mr Barker also said when Ringrose found out that the IMLT had begun an investigation he tried to persuade borrowers not to speak to officers, offering money as an incentive.

Mr Gerard Cullen, defending, told the court there was a lack of sophistication in the offending and Ringrose did not realise he was acting illegally at first.

The judge, Mr Recorder Tom Restall, said despite coming to the attention of the authorities, Ringrose continued to lend money, charging ‘exorbitant’ levels of interest.

He said borrowers’ mental health suffered badly and one reported feeling suicidal.

For the first count of illegal money lending, Ringrose was sentenced to 16 months in jail to run concurrently with a three-month sentence for money laundering.

For the second offence of illegal lending, he was handed a 12-month sentence together with one month for money laundering, to run concurrently, but consecutive to the first set of offences.

He was also handed three months’ custody for breach of a suspended sentence for an earlier unrelated offence, bringing his total sentence to 31 months.

Ringrose was also made subject to a 10-year restraining order in relation to one borrower and handed a Criminal Behaviour order for five years, which means he must not enter the Stoke Aldemoor area of Coventry and not provide or collect unauthorised loans, directly or indirectly. If he breaches either order he could face a further jail term. A POCA timetable was set.

Councillor Abdul Salam Khan, chair of Coventry’s Police and Crime Board, added: “It is really disturbing how the culprits operate and that’s why I’m pleased about the action that has been taken to deal with this case. It shows the importance and effectiveness of partnership working between the Council’s trading standards officers and the Illegal Money Lending Team. I’d encourage anyone who has been affected by illegal money lending to get in touch on the Stop Loan Sharks helpline or via their online support.”

Dave Benbow, acting head of the IMLT, a national organisation hosted by Birmingham City Council, which investigates and prosecutes loan sharks, said: “This case is the first time we have used a Criminal Behaviour Order, which means that not only has Ringrose been punished for his illegal money lending activities, he will also be subject to strict rules that stop him acting as an illegal lender in the future.

“Even when illegal lenders are convicted and sentenced, that is not the end of it. We will do whatever we can to ensure they are not free to continue to blight communities in any way.

“Once again, we are grateful to all the witnesses who came forward in this case. We realise it’s not easy, but this shows that we can and will continue to take the strongest possible action against illegal lenders to make our communities safer.”

Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at http://www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.

MIL OSI United Kingdom –

January 24, 2025

MIL-OSI Global: Presidential election could help decide fate of the 70,000 Afghans living temporarily in the US

Source: The Conversation – USA – By Idean Salehyan, Professor of political science, University of North Texas

Afghan evacuees arrive at Dulles International Airport in Dulles, Va., on Aug. 27, 2021. Olivier Douliery/AFP via Getty Images

The Taliban, an ultraconservative Islamic political group, retook control of Kabul a little more than three years ago, dashing many Afghans’ hopes for a tolerant, democratic government.

As U.S. troops withdrew from Afghanistan days after the Taliban’s resurgence in 2021, hundreds of thousands of Afghans flocked to the Kabul airport, desperate to be evacuated. Among them were Afghans who worked for U.S. military and NATO forces as interpreters and in other roles – in addition to other people who were afraid of the Taliban.

Chaotic and sometimes violent scenes of the poorly planned evacuation captured media attention for weeks, as the U.S. military airlifted nearly 124,000 people out of Afghanistan.

Many of the Afghans who fled their country in 2021 went to Iran, Pakistan and other nearby countries. To offer a lifeline to the Afghans who came to the U.S., the Biden administration announced on Aug. 29, 2021, that evacuated Afghans could legally – but temporarily – stay in the U.S.

As a scholar of civil conflict and refugee migration, I have been following the Afghan evacuation and policy responses in Washington since 2021. While President Joe Biden renewed humanitarian parole for approximately 70,000 Afghans in 2023, these people remain in legal limbo, unable to fully move forward in their lives.

The upcoming election will likely be decisive in resolving Afghans’ legal status or not.

An Afghan couple, including a man who worked as an interpreter for the U.S. military, walk in Charlestown, Mass. in February 2022.
Joseph Prezioso/AFP via Getty Images

Understanding humanitarian parole

The U.S. admitted Afghans into the country through what’s called humanitarian parole, a federal program that the president can authorize to give protection to people in other countries facing extreme emergency circumstances.

Humanitarian parole must be renewed by a presidential administration every two years, unlike the U.S. refugee admission policy, which gives foreigners who face legitimate fears of returning home the right to get permanent residency in the U.S.

The Afghan parole program enabled people like Mina Bakhshi – a female rock climber who had no future under the Taliban because of her gender – to enter the U.S. and attend college.

It also helped people like Qasim Rahimi, a journalist in Afghanistan, to flee to safety with his family and settle in Kansas City, Missouri.

About one-third of the Afghan evacuees who came to the U.S. settled in California, Virginia and Texas, while the rest settled in other states.

Yet humanitarian parole is not a permanent solution.

While these Afghan people can legally work and attend school in the U.S., they often face obstacles with getting stable work or even finding a home to rent because they are not permanent residents and do not have Social Security numbers.

A long history of parole in the US

Typically, the U.S. government has used humanitarian parole to rescue people from conflicts in which U.S. armed forces are involved, like Vietnam and Ukraine.

People who face serious danger because of conflict or other reasons can also enter the U.S. by applying for and receiving refugee status, but it can take more than a year for it to be granted. Humanitarian parole lets the U.S. government act quickly when it wants to help foreigners come to the country during an emergency.

At the end of the Vietnam War in 1975, for example, the U.S. admitted thousands of Vietnamese, Cambodian and Laotian migrants fleeing their countries.

As then-President Gerald Ford stated in an address to Congress in 1975, providing humanitarian parole to Vietnamese people who supported the U.S. in its war effort in Vietnam was a “profound moral obligation.” In 1977, Congress passed a law that allowed these refugees to permanently settle in the U.S.

The U.S. also issued humanitarian parole to Hungarian and Cuban refugees who fled communist dictatorships in the 1950s.

More recently, the U.S. granted parole to a group of Haitian orphans following a major earthquake in 2010, and to children from Central America who illegally crossed the border without their parents during the Obama administration.

In 2022, the U.S. government again used humanitarian parole to welcome more than 125,000 Ukrainians fleeing the war in their country.

What the Afghan Adjustment Act would do

While Biden issued temporary humanitarian parole to Afghans in 2021 and renewed it in 2023, only Congress has the power to pass an act that would ensure they can legally stay in the country permanently. Yet, a deadlocked Congress has failed to pass legislation to adjust the status of Afghans.

A proposed bipartisan bill in Congress called the Afghan Adjustment Act would allow Afghan parolees to apply for permanent legal status.

A coalition of refugee advocates and veterans organizations has championed the Afghan Adjustment Act.

Yet, a handful of Republican lawmakers, led by Sen. Chuck Grassley, have opposed the act on national security grounds. They say that vetting procedures for newcomers are not sufficient, which could lead to security risks. Some want a more targeted program that focuses only on Afghans who worked with U.S. troops.

Republican Sen. Tom Cotton has proposed another bill that would significantly reduce a president’s authority to use humanitarian parole for Afghans or anyone else in the future.

An Afghan evacuee living in Charlestown, Mass., in February 2022 shows a photo of himself working in Afghanistan as a translator.
Joseph Prezioso/AFP via Getty Images

The election factor

The fate of Afghan parolees will likely be determined by the results of the upcoming election. Should Democratic presidential nominee Kamala Harris win office, I believe she is likely to renew parole for Afghans for at least two more years, as Biden did in 2023. Congress may be more likely to pass the Afghan Adjustment Act after the election, since it is rare to pass major legislation during an election period.

What Republican presidential nominee Donald Trump might do about Afghans living temporarily in the U.S. is an open question. During Trump’s previous presidential term, his administration focused in part on curbing immigration. This included slashing refugee admissions and making it harder to issue U.S. visas to Afghans and Iraqis who worked with the U.S. military.

On the campaign trail, Trump has promised to renew his travel ban on Muslims and to continue to limit immigration to the U.S.

In the meantime, Afghans who fled the Taliban continue to face uncertainty about their future in the U.S.

Idean Salehyan is affiliated with the Niskanen Center in Washington, D.C.

– ref. Presidential election could help decide fate of the 70,000 Afghans living temporarily in the US – https://theconversation.com/presidential-election-could-help-decide-fate-of-the-70-000-afghans-living-temporarily-in-the-us-233941

MIL OSI – Global Reports –

January 24, 2025

MIL-OSI Europe: President Meloni meets with the Emir of the State of Qatar

Source: Government of Italy (English)

The President of the Council of Ministers, Giorgia Meloni, received His Highness the Emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, at Villa Doria Pamphilj in Rome today, as part of the Emir’s State Visit to Italy.

Their discussions focused on the situation in the Middle East. President Meloni shared the outcomes of her recent trips to Jordan and Lebanon with her guest, confirming Italy’s support for the mediation being carried out by Qatar, together with Egypt and the United States, to reach an agreement in Gaza. The two leaders also discussed the humanitarian situation in the Gaza Strip and the serious crisis of displaced persons in Lebanon.

The meeting also provided an opportunity to reiterate common, firm support for UNIFIL and the need to guarantee the safety of its personnel at all times, working towards full implementation of Resolution 1701 also through the necessary international support for the Lebanese armed forces.

With regard to bilateral relations, President Meloni and the Emir reaffirmed their shared desire to boost cooperation between Rome and Doha, also with reference to the African continent as part of the Mattei Plan for Africa. This desire was expressed in a joint declaration that was adopted at the end of the meeting, in addition to which several agreements in various areas of mutual interest were also signed.

MIL OSI Europe News –

January 24, 2025

MIL-OSI Security: Defense News: Fleet Readiness Center Southeast’s Jacksonville detachment establishes fiber optics repair capability

Source: United States Navy

Fleet Readiness Center Southeast (FRCSE) Detachment Jacksonville has completed certification to become the first intermediate-level (I-level) fiber optics Naval Air Systems Command (NAVAIR) maintenance facility in the Navy.

Currently, the detachment supports the P-8 Poseidon maritime patrol aircraft. However, the certification underscores an opportunity for FRCSE to enhance operational readiness throughout the NAVAIR domain.

The Miniature/Micro-miniature Electronics Repair and Module Test and Repair (2M/MTR) fiber optics work center is now equipped with a high-resolution optical time domain reflectometer (HROTDR) to test and analyze fiber optics cables. The HROTDR uses a laser to determine bends, breaks and other faults in a fiber cable. The team uses the HROTDR to find issues and fabricate new cables to meet engineering drawings and specifications.

The certification process began approximately two years ago after FRCSE’s P-8 Fleet Support Team (FST) noticed a correlation between damaged fiber optic network cables, decreased mission-capable aircraft and expensive, timely turnaround times using contracted repair organizations.

“Many P-8 aircraft were down because of simple and straightforward fiber optics repairs,” said Alex Garcia, an FRCSE P-8A FST electrical engineer. “With the right training and certification, the team knew that we could do much quicker and cost-effective work.”

Recognizing the need to conduct this work internally, engineers mapped the process and established local engineering specifications, a required document that authorizes I-level work and provides instructions on fiber optic cable fabrication, support, and required consumables.

“Given that NAVAIR didn’t have an established fiber optic program, certification agents were not an option,” said Aviation Electronics Technician 1st Class Michael Parker. “During our discussions on possible certification avenues, we learned that NAVSEA (Naval Sea Systems Command) had an existing program. The team recognized that the most effective way forward was to seek support from NAVSEA for site certification.”

Though NAVSEA couldn’t provide aviation-specific fiber optics repair capability, the groundwork could still be tailored to a NAVAIR program. After the 2M/MTR team contacted NAVSEA, representatives from the fiber optic test and repair (FOTR) program from Naval Surface Warfare Center (NSWC) responded by traveling to Naval Air Station (NAS) Jacksonville to conduct the certification process, which took only a few days.

“We confirmed an adequate amount of appropriately trained fiber optic technicians, the required NAVAIR authorized test equipment and tooling essential to repair or manufacture 95 percent of the potential fiber optic issues across various aircraft frames,” said Richard Scott, the FOTR certification agent with NSWC, Dahlgren division. “This effort resulted in FRSCE becoming the first NAVAIR activity to obtain its FOTR certification.”

After completing certification, KITCO Fiber Optics, a civilian company, provided two weeks of hands-on training, which took place aboard NAS Jacksonville.

During the two-year timeline, from establishment to certification and training, the team has streamlined repairs, reducing fiber optics turnaround times from six months to just a few days.

The work center at Detachment Jacksonville is also helping to establish fiber optics work centers globally with footprints in Whidbey Island, Wash.; Misawa, Japan; Sigonella, Sicily; Bahrain and afloat on aircraft intermediate maintenance departments worldwide. The current workload is helping support readiness throughout the fleet and prepares FRCSE to meet advancing technological requirements.

About Fleet Readiness Center Southeast

Fleet Readiness Center Southeast (FRCSE) is Northeast Florida and Southeast Georgia’s largest maintenance, repair, overhaul and technical services provider, employing approximately 5,000 civilian, military and contract workers. With annual revenue exceeding $1 billion, the organization serves as an integral part of the greater U.S. Navy, Naval Air Systems Command, and Commander, Fleet Readiness Centers by maintaining the combat airpower for America’s military forces.

MIL Security OSI –

January 24, 2025

Category: Middle East

ICYMI: Rubio Calls Leaks of Israel’s Plan “Treason”

What was a eunuch?

Eunuchs as bodyguards, enforcers and governors

Bagoas the eunuch

Eunuchs in Rome

Beauty versus duty

Elizabeth as the ‘ugly queen’

Royal beauty standards today

Khelo India has significantly increased the number of female athletes in national events : Union Minister Dr. Mansukh MandaviyaUnion Minister inaugurates newly constructed 300-bedded girls’ hostel at SAI RC LNCPE

India Chem 2024 concludes today in MumbaiIndia’s chemical and petrochemical industry is projected to surpass $300 billion by 2028 and is on track to reach $1 trillion by 2040: Shri Jagat Prakash Nadda, Union Minister for Health & Family Welfare and Chemicals & Fertilizers

Understanding humanitarian parole

A long history of parole in the US

What the Afghan Adjustment Act would do

The election factor

Khelo India has significantly increased the number of female athletes in national events : Union Minister Dr. Mansukh Mandaviya

Union Minister inaugurates newly constructed 300-bedded girls’ hostel at SAI RC LNCPE

India Chem 2024 concludes today in Mumbai

India’s chemical and petrochemical industry is projected to surpass $300 billion by 2028 and is on track to reach $1 trillion by 2040: Shri Jagat Prakash Nadda, Union Minister for Health & Family Welfare and Chemicals & Fertilizers