Category: Natural Disasters

  • MIL-OSI Security: Cedar Rapids Man Who Conspired to Distribute Thousands of Fentanyl Pills Sentenced to Federal Prison

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

    A man who conspired to distribute fentanyl pills was sentenced today to 14 years in federal prison.  Jaylon William Throgmartin, age 22, from Cedar Rapids, Iowa, received the prison term after a guilty plea to conspiracy to distribute a controlled substance.

    In a plea agreement and at the sentencing hearing, evidence showed that Throgmartin distributed thousands of fentanyl pills between December 2023 and October 2024.  Throgmartin also facilitated the sale of a firearm in exchange for fentanyl pills.  In January 2025, he distributed at least one fentanyl pill to someone who overdosed.  The victim recovered after receiving Narcan.  

    Throgmartin was sentenced in Cedar Rapids by United States District Court Chief Judge C.J. Williams.  Throgmartin was sentenced to 168 months’ imprisonment and must also serve a four-year term of supervised release after the prison term.  There is no parole in the federal system.

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

    The case was prosecuted by Assistant United States Attorney Devra T. Hake and was investigated as part of the Northern Iowa Heroin Initiative and the Organized Crime Drug Enforcement Task Force (OCDETF) program of the United States Department of Justice through a cooperative effort of the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Cedar Rapids Police Department, the Iowa Division of Narcotics Enforcement, and the Iowa Division of Intelligence and Fusion Center.  OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence‑driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline) a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime.  Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    Throgmartin is being held in the United States Marshal’s custody until he can be transported to a federal prison.

    Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

    The case file number is 25-CR-5.

    Follow us on X @USAO_NDIA.

    MIL Security OSI

  • MIL-OSI Africa: Central African Pipeline System Gains Traction as Committee President Returns to African Energy Week (AEW) 2025

    Source: APO

    In line with the African Energy Week (AEW): Invest in African Energies conference’s vision to make African energy poverty history by 2030, Gabriel Mbaga Obiang Lima, President of the Strategic Partnership and Fund Committee for the Central African Pipeline System (CAPS), is returning to this year’s edition as a speaker. Lima’s participation comes as the development of CAPS – an integrated network of downstream and midstream oil and gas infrastructure – is advancing with an aim to enhance energy access, reduce fuel imports and spur industrial growth in Central Africa.

    In July 2025, a significant milestone was achieved when the Central African Economic and Monetary Community, the African Petroleum Producers’ Organization (APPO) and the Central Africa Business & Energy Forum signed a Memorandum of Understanding (MoU) to kick-start a feasibility study for CAPS. The MoU sets the foundation for participation from up to 11 Central African countries in evaluating the project’s viability, regional impact and national contributions. The 6,500km pipeline network will enhance Central Africa’s energy market resilience and affordability by optimizing the exploitation, local beneficiation and distribution of Africa’s estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas resources.

    With APPO finalizing the launch of the multi-billion African Energy Bank with the African Export-Import Bank this year, the organization’s participation in the MoU and interest in CAPS is timely. The MoU not only strengthens regional collaboration but also strategically positions CAPS to be shortlisted for financing from the new bank. Furthermore, with 18 oil-producing APPO member states focused on accelerating the exploitation of hydrocarbon resources, the organization’s involvement in CAPS represents a powerful step toward eradicating energy poverty and enhancing regional energy security. The CAPS project will encompass oil, gas and LPG pipelines, pumping stations, storage terminals, refineries and gas-fired power plants, all contributing to regional energy access and industrial transformation.

    AEW: Invest in African Energies serves as the continent’s premier platform for connecting high-impact African projects such as CAPS with global investors. Under the theme, Invest in African Energy: Positioning Africa as the Global Energy Champion, the event provides a strategic venue for Lima to present updates on CAPS milestones, development timelines and its alignment with Africa’s broader industrialization agenda. With the pipeline set to span various countries such as Angola, Burundi, Cameroon, Chad, Republic of the Congo, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Rwanda and São Tomé & Príncipe, AEW: Invest in African Energies enables Lima to engage directly with policymakers and stakeholders vital to advancing the initiative.

    “As Africa advances its ‘drill baby drill’ agenda, building robust downstream and midstream infrastructure for local energy beneficiation and distribution is critical,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber. “The CAPS project, under Lima’s leadership, is a testament to Africa’s breakthrough in closing infrastructure gaps. Projects like CAPS are essential to lifting 600 million people out of energy poverty and providing access to clean cooking for over 900 million.”

    Distributed by APO Group on behalf of African Energy Chamber.

    About African Energy Week:
    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

    Media files

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    MIL OSI Africa

  • MIL-OSI Banking: Samsung Launches Galaxy F36 5G with Premium Leather Finish, Segment-Leading Camera and AI Innovations in India

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the launch of Galaxy F36 5G to deliver a superior smartphone experience to users. Galaxy F36 5G comes with several segment-leading features that sets it apart from its predecessors. Galaxy F36 5G stands out with a premium leather finish, 50MP OIS triple camera with Nightography, Corning® Gorilla® Glass Victus®+ protection and advanced AI innovations.
     
    “With Galaxy F36 5G, we are reiterating our commitment to empower our consumers’ lives with powerful, future-ready devices. Galaxy F36 5G further accelerates the democratization of mobile AI, bringing cutting-edge AI features and capabilities within everyone’s reach, enabling users to unlock their full potential,” said Akshay S Rao, Director, MX Business, Samsung India.
     
    AI Camera
    Galaxy F36 5G comes with an advanced 50MP OIS (Optical Image Stabilization) triple camera setup, enabling you to shoot high-resolution, shake free photos and blur free videos. Galaxy F36 5G features Auto Night Mode, taking the Nightography experience to a whole new level by allowing you to capture crystal-clear low-light shots and videos. You can capture sharper and clearer night portraits thanks to AI stereo depth map technology.
     
    Users can record 4K videos with both the front and rear cameras. Galaxy F36 5G comes with fantastic mobile AI features such as Object Eraser, which instantly removes unwanted objects or people from photos; Image Clipper, which helps users extract a subject from an image and separate it from the background; and Edit Suggestions, which provides AI-powered recommendations for photo and video editing, taking the user experience to a whole new level.
     
    AI-Led Convenience
    Furthering the democratization of mobile AI to even more devices in the Galaxy ecosystem, Galaxy F36 5G comes with Circle to Search with Google. Additionally, it introduces new AI experience with Gemini Live, bringing real-time visual conversations with AI to Galaxy users. It allows for natural, conversational interactions with the Gemini AI assistant through voice, camera, and screen sharing. You can talk to Gemini, ask it to brainstorm ideas, explore topics, or even practice for important moments.
     
    Design and Display
    Designed for young consumers and built to impress, Galaxy F36 5G features a premium leather finish which is crafted to perfection and will come in three refreshing colours – Luxe Violet, Coral Red and Onyx Black. Galaxy F36 5G is only 7.7mm slim and features segment-leading Corning® Gorilla® Glass Victus®+ protection – making it extremely tough as well as ergonomic.
     
    Galaxy F36 5G features a 6.7-inch Full HD+ Super AMOLED display with 120Hz refresh rate and Vision Booster technology making it the perfect device for an unparalleled viewing experience even in the harsh outdoor lighting conditions.
     
    Powerful Processor
    Galaxy F36 5G is powered by the fast and power-efficient Exynos 1380 processor. Along with the 5nm based processor, Galaxy F36 5G also comes with a large vapor cooling chamber, which ensures efficient heat dissipation, providing users with a lag-free gaming experience and super smooth processing. For long sessions of browsing, binge watching and gaming, Galaxy F36 5G packs in 5000mAh battery. The device supports 25W fast charging, giving more power in less time.
     
    Galaxy Experiences
    Galaxy F36 5G offers segment-best 6 generations of Android upgrades and 6 years of security updates, ensuring a future-ready experience. Galaxy F36 5G comes with One UI 7 out of the box, bringing simple, impactful and emotive design as well as streamlined and cohesive experience to Galaxy users.
     
    Galaxy F36 5G aims to revolutionize consumer experience with ‘made in India’ innovations such as Voice Focus that cuts the ambient noise for an amazing calling experience. Galaxy F36 5G also features Quick Share which enables users to instantly share files, photos and documents with other devices, even if they are faraway, including your laptop and tab, privately.
     
    Galaxy F36 5G also features one of Samsung’s most innovative security features: Samsung Knox Vault. The hardware-based security system offers comprehensive protection against both hardware and software attacks. It includes Samsung’s innovative Tap & Pay feature with Samsung Wallet allowing consumers to make secure payments effortlessly.
     

    Product
    Variant
    Introductory Price
    Offers

    Galaxy F36 5G
    6GB+128GB
    INR 16499
     
     
    Including INR 1000 Introductory Offer

    8GB+128GB
    INR 17999

    8GB+256GB
    INR 20999

     
     
     
     

    MIL OSI Global Banks

  • MIL-OSI Security: U.S. Marshals Lone Star Fugitive Task Force Commemorates 20 Years Investigating, Apprehending West Texas Fugitives

    Source: US Marshals Service

    San Antonio, TX – The U.S. Marshals Service (USMS) is commemorating the Lone Star Fugitive Task Force’s 20 years of service as part of the Western District of Texas.

    The Lone Star Fugitive Task Force (LSFTF) is a multi-agency task force focused on the reduction of violence within the Western District of Texas through the identification, investigation, and apprehension of fugitives wanted for egregious crimes against the community. Since its inception in March 2005, the task force has investigated and apprehended over 58,991 fugitives, including 1,795 wanted for murder.  

    The Western District of Texas consists of 93,000 square miles, 68 counties, 809 miles of border with Mexico, with eight divisions located in Austin, Alpine, Del Rio, El Paso, Midland, Pecos, San Antonio and Waco.

    Notable historical cases, arrests, and awards in the Western District of Texas include: 

    In April 2017, the Austin division was presented the Outstanding Team Award at the 34th Annual 100 Club of Central Texas Awards Banquet. 

    June 2022, the Austin division conducted a fugitive investigation that led to the arrest of Kaitlin Armstrong, sought for the May 2022 murder of professional cyclist Moriah “Mo” Wilson. Armstrong was apprehended at a hostel in Costa Rica following a 43-day fugitive investigation with assistance from the U.S. Marshals Office of International Operations, Homeland Security Investigations, and the Department of State Diplomatic Security Service.

    February 2024, the Alpine division investigated the whereabouts of Ivan Ramos-Hernandez, who fled from Presidio Police, engaging them in a high-speed pursuit and firing gunshots. Ramos-Hernandez fled to Ojinaga, Mexico, where he was apprehended by Mexican authorities following a multi-agency collaboration with assistance provided from Homeland Security Investigations, Custom Border Protection, U.S. Probation, Texas Department of Public Safety Criminal Investigation Division, Presidio Police and Mexican officials. Ramos-Hernandez attempted a violent escape one last time during transport that was halted by authorities. 

    January 2022, the Del Rio division was contacted by the Gulf Coast Violent Offenders Fugitive Task Force to locate and apprehend Oscar Rosales, who was wanted for capital murder, when he shot and killed Corporal Charles Galloway with the Harris County Constables Office during a traffic stop. Rosales fired multiple rounds from an assault rifle and fled from the scene. Rosales was added to the Texas10 Most Wanted Fugitive list and was believed to have fled to Mexico. Investigators in the Del Rio division worked directly with Mexican authorities and coordinated his apprehension in Acuna, Mexico. 

    August 2017, the El Paso division initiated a fugitive investigation to apprehend Javier Gonzalez and Manual Gallegos, members of the Kinfolk Outlaw Motorcycle Gang sought for multiple counts of engaging in organized criminal activity and aggravated assault with a deadly weapon. Gonzales and Gallegos were arrested in two separate incidents within a 10-day span with additional assistance from El Paso Police Department’s SWAT team.

    April 2025, the Midland division adopted the apprehension of Noah Gilbert Olgin, who was wanted for aggravated assault with a deadly weapon, injury to a child, deadly conduct and a federal supervised release violation for possession of a firearm, following an incident where he was involved in a drive-by-shooting in Odessa, that resulted in a serious injury to a child.  Olgin was arrested in Midland with assistance from the Midland SWAT team. 

    November 2022, the Pecos division arrested Jose Hernandez, a Texas 10 Most Wanted Fugitive apprehended in Monterey, Nuevo Leon, Mexico, through a coordinated effort with the Gulf Coast Violent Offenders Fugitive Task Force and Mexican authorities. Hernandez was sought on a bond violation for two counts of aggravated sexual assault of a child. 

    January 2024, the San Antonio division joined efforts to apprehend Romeo Nance, who was wanted in connection with a mass shooting in Joliet, Illinois, that killed eight people and wounded one other person. The Great Lakes Regional Fugitive Task Force, Joliet Police Department, and the Will County Sheriff’s Department requested immediate assistance from the LSFTF who located and observed Nance at a gas station in Natalia, Texas. As members of the LSFTF attempted to contain Nance in his vehicle, he fled on foot, taking his own life with a self-inflicted gunshot wound. 

    June 2020, the Waco division was contacted by the U.S. Army Criminal Investigation Division to locate 20-year-old Pfc. Class Vanessa Guillen, a Fort Hood soldier who had been reported missing under unusual circumstances in April 2020. Joining CID’s investigation, task force members determined Guillen had been murdered by another soldier. Less than 24 hours after Guillen’s remains were located in a shallow grave near a river, the LSFTF identified Spc. Aaron David Robinson and his girlfriend Cecily Aguilar as primary suspects in her murder. As task force members attempted to take Robinson into custody, he fatally shot himself. Aguilar pleaded guilty in federal court and was sentenced to 30 years of incarceration. In 2021, the Waco Division received the Distinguished Group Award for District Task Forces at the 40th United States Marshals Service Director’s Honorary Awards in recognition of locating Guillen’s remains and identifying those responsible for her death. In July of 2022, personnel in the Waco Division were recognized for their outstanding service, selfless pursuit of justice, and assisting in bringing closure for Guillen’s family and friends by being granted the 69th Attorney General’s Award for Distinguished Service.   

    On June 2, the Waco Division received the Distinguished Group Award for the District Task Forces at the 43rd United States Marshals Service Director’s Honorary Awards for a two-year-old cold case from Leon County, involving a missing child, and possible homicide of the child’s mother. The division conducted an intensive investigation that resulted in the recovery of the mother’s decomposed remains found buried in a field and completed a multifaceted arrest operation that resulted in the arrest of the suspect and safe recovery of the missing child. During the conclusion of the arrest, multiple firearms, ammunition, body armor, and narcotics were seized, and the suspect was indicted on capital murder.

    “I am immensely proud of the Deputy U.S. Marshals and the numerous task force officers of the Lone Star Fugitive Task Force, men and women who are fully devoted to making their communities safer for their fellow citizens by apprehending offenders wanted for the most serious crimes such as murder and child abuse, while ensuring the equal application of justice for all,” said Marshal Susan Pamerleau, U.S. Marshal of the Western District of Texas.  

    U.S. Marshals task forces combine the efforts of federal, state, and local law enforcement agencies to locate and arrest the most dangerous fugitives. Fifty-eight local task forces are dedicated to reducing violent crime by locating and apprehending wanted criminals. They also serve as the central point for agencies to share information on fugitive matters.  Task force officers are state and local police officers who receive special deputations with the U.S. Marshals. While on a task force, these officers can exercise U.S. Marshals authorities, such as crossing jurisdictional lines.

    Members of the Lone Star Fugitive Task Force across the Western District of TexasSAN ANTONIO – The U.S. Marshals Service is commemorating the Lone Star Fugitive Task Force’s 20 years of service as part of the Western District of Texas.

    The Lone Star Fugitive Task Force (LSFTF) is a multi-agency task force focused on the reduction of violence within the Western District of Texas through the identification, investigation, and apprehension of fugitives wanted for egregious crimes against the community. Since its inception in March 2005, the task force has investigated and apprehended over 58,991 fugitives, including 1,795 wanted for murder.  

    The Western District of Texas consists of 93,000 square miles, 68 counties, 809 miles of border with Mexico, with eight divisions located in Austin, Alpine, Del Rio, El Paso, Midland, Pecos, San Antonio and Waco.

    Notable historical cases, arrests, and awards in the Western District of Texas include: 
    In April 2017, the Austin division was presented the Outstanding Team Award at the 34th Annual 100 Club of Central Texas Awards Banquet. 
    June 2022, the Austin division conducted a fugitive investigation that led to the arrest of Kaitlin Armstrong, sought for the May 2022 murder of professional cyclist Moriah “Mo” Wilson. Armstrong was apprehended at a hostel in Costa Rica following a 43-day fugitive investigation with assistance from the U.S. Marshals Office of International Operations, Homeland Security Investigations, and the Department of State Diplomatic Security Service.
    February 2024, the Alpine division investigated the whereabouts of Ivan Ramos-Hernandez, who fled from Presidio Police, engaging them in a high-speed pursuit and firing gunshots. Ramos-Hernandez fled to Ojinaga, Mexico, where he was apprehended by Mexican authorities following a multi-agency collaboration with assistance provided from Homeland Security Investigations, Custom Border Protection, U.S. Probation, Texas Department of Public Safety Criminal Investigation Division, Presidio Police and Mexican officials. Ramos-Hernandez attempted a violent escape one last time during transport that was halted by authorities. 
    January 2022, the Del Rio division was contacted by the Gulf Coast Violent Offenders Fugitive Task Force to locate and apprehend Oscar Rosales, who was wanted for capital murder, when he shot and killed Corporal Charles Galloway with the Harris County Constables Office during a traffic stop. Rosales fired multiple rounds from an assault rifle and fled from the scene. Rosales was added to the Texas10 Most Wanted Fugitive list and was believed to have fled to Mexico. Investigators in the Del Rio division worked directly with Mexican authorities and coordinated his apprehension in Acuna, Mexico. 
    August 2017, the El Paso division initiated a fugitive investigation to apprehend Javier Gonzalez and Manual Gallegos, members of the Kinfolk Outlaw Motorcycle Gang sought for multiple counts of engaging in organized criminal activity and aggravated assault with a deadly weapon. Gonzales and Gallegos were arrested in two separate incidents within a 10-day span with additional assistance from El Paso Police Department’s SWAT team.
    April 2025, the Midland division adopted the apprehension of Noah Gilbert Olgin, who was wanted for aggravated assault with a deadly weapon, injury to a child, deadly conduct and a federal supervised release violation for possession of a firearm, following an incident where he was involved in a drive-by-shooting in Odessa, that resulted in a serious injury to a child.  Olgin was arrested in Midland with assistance from the Midland SWAT team. 
    November 2022, the Pecos division arrested Jose Hernandez, a Texas 10 Most Wanted Fugitive apprehended in Monterey, Nuevo Leon, Mexico, through a coordinated effort with the Gulf Coast Violent Offenders Fugitive Task Force and Mexican authorities. Hernandez was sought on a bond violation for two counts of aggravated sexual assault of a child. 
    January 2024, the San Antonio division joined efforts to apprehend Romeo Nance, who was wanted in connection with a mass shooting in Joliet, Illinois, that killed eight people and wounded one other person. The Great Lakes Regional Fugitive Task Force, Joliet Police Department, and the Will County Sheriff’s Department requested immediate assistance from the LSFTF who located and observed Nance at a gas station in Natalia, Texas. As members of the LSFTF attempted to contain Nance in his vehicle, he fled on foot, taking his own life with a self-inflicted gunshot wound. 
    June 2020, the Waco division was contacted by the U.S. Army Criminal Investigation Division to locate 20-year-old Pfc. Class Vanessa Guillen, a Fort Hood soldier who had been reported missing under unusual circumstances in April 2020. Joining CID’s investigation, task force members determined Guillen had been murdered by another soldier. Less than 24 hours after Guillen’s remains were located in a shallow grave near a river, the LSFTF identified Spc. Aaron David Robinson and his girlfriend Cecily Aguilar as primary suspects in her murder. As task force members attempted to take Robinson into custody, he fatally shot himself. Aguilar pleaded guilty in federal court and was sentenced to 30 years of incarceration. In 2021, the Waco Division received the Distinguished Group Award for District Task Forces at the 40th United States Marshals Service Director’s Honorary Awards in recognition of locating Guillen’s remains and identifying those responsible for her death. In July of 2022, personnel in the Waco Division were recognized for their outstanding service, selfless pursuit of justice, and assisting in bringing closure for Guillen’s family and friends by being granted the 69th Attorney General’s Award for Distinguished Service.   
    On June 2, the Waco Division received the Distinguished Group Award for the District Task Forces at the 43rd United States Marshals Service Director’s Honorary Awards for a two-year-old cold case from Leon County, involving a missing child, and possible homicide of the child’s mother. The division conducted an intensive investigation that resulted in the recovery of the mother’s decomposed remains found buried in a field and completed a multifaceted arrest operation that resulted in the arrest of the suspect and safe recovery of the missing child. During the conclusion of the arrest, multiple firearms, ammunition, body armor, and narcotics were seized, and the suspect was indicted on capital murder.

    “I am immensely proud of the Deputy U.S. Marshals and the numerous task force officers of the Lone Star Fugitive Task Force, men and women who are fully devoted to making their communities safer for their fellow citizens by apprehending offenders wanted for the most serious crimes such as murder and child abuse, while ensuring the equal application of justice for all,” said Marshal Susan Pamerleau, U.S. Marshal of the Western District of Texas.  

    U.S. Marshals task forces combine the efforts of federal, state, and local law enforcement agencies to locate and arrest the most dangerous fugitives. Fifty-eight local task forces are dedicated to reducing violent crime by locating and apprehending wanted criminals. They also serve as the central point for agencies to share information on fugitive matters.  Task force officers are state and local police officers who receive special deputations with the U.S. Marshals. While on a task force, these officers can exercise U.S. Marshals authorities, such as crossing jurisdictional lines.

    Members of the Lone Star Fugitive Task Force across the Western District of Texas:

    • Austin Police Department-Tactical Intelligence Unit
    • Police Departments:  Anthony, Buffalo, Crystal City, Del Rio, Eagle Pass, El Paso, Georgetown, Killeen, New Braunfels, Nolanville, Round Rock, San Marcos, Uvalde, and Waco, Texas.
    • Sheriff’s Offices:  Bexar County, Coryell County, Dimmett County, Ector County, Hays County, McLennan County, Maverick County, Midland County, New Braunfels, Real County, Travis County, Val Verde County, Williamson County, and Zavala County.
    • District Attorney’s Offices: Bexar County, and Val Verde County.
    • Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF)
    • Midland Fire Marshals Office
    • Naval Criminal Investigative Service (NCIS)
    • Texas Attorney General’s Office
    • Texas Board of Criminal Justice (TBCJ) – Office of the Inspector General (OIG)
    • Texas Department of Public Safety
    • Texas Parks and Wildlife Division
    • Texas National Guard Joint Counterdrug Task Force
    • U.S. Immigration & Customs Enforcement
    • U.S. DHS/Homeland Security Investigations

    MIL Security OSI

  • MIL-OSI Analysis: I research rip currents where ‘Cosby Show’ star Malcolm-Jamal Warner drowned. Here’s why they’re so deadly

    Source: The Conversation – Canada – By Chris Houser, Professor in Department of Earth and Environmental Science, and Dean of Science, University of Waterloo

    Malcolm-Jamal Warner, the actor who played Theo Huxtable on The Cosby Show, has drowned on Costa Rica’s Caribbean coast.

    It is reported that he was swimming at Playa Cocles in Limon province when a current pulled him offshore. This is a beach popular among surfers and one that’s known to have large waves and strong currents.

    It’s also a beach that I have taken students to in order to study the formation of rip currents and to better understand what beach users know about the hazard.

    What exactly are rip currents?

    Rip currents — commonly referred to as rips or colloquially as rip tides — are found on ocean beaches and some large lakes around the world.




    Read more:
    The Great Lakes are powerful. Learning about ‘rip currents’ can help prevent drowning


    The rips at Playa Cocles and along a large part of the Costa Rican Caribbean coast are known as channel or bathymetric rips that form as the nearshore sand bar moves toward the land through the summer. The water thrown towards the land by the breaking waves returns offshore as a concentrated and fast flowing current at gaps in the nearshore sand bar.

    During storm conditions, we have measured the rip currents at Playa Cocles at over two metres per second. These rips are known to increase rapidly (or pulse) in strength due to changes in wave breaking, leading to unsuspecting swimmers being taken far offshore and exiting beyond the zone of breaking waves.

    Rip current at Playa Cocles showing change in size and strength with surfers for scale. (Chris Houser)

    While it can be difficult to spot a rip from shore, they can be identified by an area of relatively calm water between breaking waves, a patch of darker water or the offshore flow of water, sediment and debris.

    Caught in a rip current

    A person caught in a rip is transported away from shore into deeper waters, but they aren’t pulled under the water. If they are a weak swimmer or try to fight the current, they may panic and fail to find a way out of the rip and back to shore. Survivor stories highlight panic, anxiety, distress and fear, a tendency to fight the current and an inability to make a decision on how to escape the rip.

    While it is possible to “break the grip of the rip” by swimming parallel to the beach or toward breaking waves at an angle to the beach, there is no single escape strategy due to the unique rip circulation pattern.

    It’s possible to escape a rip by flipping onto your back, floating to keep your head above the water and following the current until you’re returned to the shore by the current or able to swim safely toward the shore. If you are taken beyond where the waves break, or you’re unable to swim back to shore, continue to float and signal for help.

    Rip currents account for more than 50 deaths a year in Costa Rica; approximately 19 drownings a year involve foreign tourists from the United States, Nicaragua, Canada and Germany. While most drownings in the country occur on Pacific coast beaches that are a short distance to the city of San José, more than five drownings occur each year along the Caribbean coast.

    Playa Cocles was the site of five drownings that occurred over eight days in 2004, an event that prompted tourism-dependent business owners to establish a lifeguard station on the beach.

    Costa Rican drownings

    On average, each drowning in Costa Rica costs more than US$2 million (USD). This includes the direct costs of search and rescue, the costs of repatriation and the long-term economic burden of a lost life. This is in addition to the great personal loss experienced by family and friends.

    A survey at Playa Cocles and other beaches in Costa Rica revealed that a majority of beach users did not observe warning signs and that many were unable to interpret the warning and did not change their behaviour.

    The majority of foreign drowning victims in Costa Rica had limited knowledge of rips and were unable to avoid the times and locations that were most hazardous.

    In general, visitors to a beach often use simple visual cues when deciding to take risks. Recent studies suggest that tourists think beach access points and resorts are located adjacent to safe swimming areas, particularly when visual cues such as manicured paths and promotional posters that promote swimming at those locations.

    Visitors are a high-risk group for drownings. They’re generally unfamiliar with the beach and its safety measures and often have poor knowledge of beach hazards, such as rip currents and breaking waves. This lack of knowledge can be exacerbated by language barriers, an overconfidence in swimming ability and peer pressure.

    Rip current and beach users at Playa Cocles. The red flag was placed by lifeguards to mark the location of the rip for beach users. (Chris Houser)

    Playa Cocles is a beautiful beach, but it’s known to have dangerous rips depending on the size of the breaking waves and the position of the sand bar.

    When visiting any beach — from the Caribbean to the Great Lakes — it’s important to remember that there may be rip currents and to take serious precautions.

    Chris Houser receives funding from NSERC.

    ref. I research rip currents where ‘Cosby Show’ star Malcolm-Jamal Warner drowned. Here’s why they’re so deadly – https://theconversation.com/i-research-rip-currents-where-cosby-show-star-malcolm-jamal-warner-drowned-heres-why-theyre-so-deadly-261653

    MIL OSI Analysis

  • MIL-OSI United Kingdom: Multilateralism remains the best tool we have to meet the shared challenges of the 21st century: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    Multilateralism remains the best tool we have to meet the shared challenges of the 21st century: UK statement at the UN Security Council

    Statement by Lord Collins of Highbury, Minister for Africa and the UN, at the UN Security Council debate on peace and security.

    Mr President, the United Kingdom thanks Pakistan for convening this timely debate at a time when multilateralism faces unprecedented strain.

    As the Secretary-General has said, the world is witnessing more conflict than at any time since the founding of the United Nations.

    From Russia’s illegal invasion of Ukraine to the protracted crisis in Gaza, the international community is being tested.

    Our response must strive for peace and be guided by the principles of the UN Charter.
    Multilateralism remains the best tool we have to meet the shared challenges of the 21st century.

    And this Council, as the UN organ with the primary responsibility for international peace and security, should play a central role.

    That includes through a collective commitment to the rule of law, including international humanitarian law, and to the peaceful settlement of disputes.

    These are not abstract ideals.

    They are principles by which we could collectively prevent and resolve conflict.

    That is why the United Kingdom has kept these principles at the heart of its foreign policy.
    But as we mark the UN’s 80th anniversary, we must seize this moment to revitalise the peace and security architecture, champion human rights, and strengthen the UN development system and humanitarian architecture to ensure all three pillars are collectively fit for purpose.

    We should make full use of the UN’s mediation and conflict prevention capabilities.
    In Sudan, we continue to urge the warring parties to engage meaningfully with existing diplomatic initiatives, including the United Nations’ mediation efforts to achieve a lasting national ceasefire and political solution.

    Here and elsewhere, we need the UN to help address the root causes of conflict.
    Peace operations should be more adaptable, politically attuned and better coordinated with other UN and regional actors, leveraging new technologies and local expertise.
    We must focus not only on brokering peace but on sustaining it.

    The UN’s efforts to verify the implementation of the Peace Agreement in Colombia is a good example of this work in the field.

    And here in New York, we can make better use of the UN Peacebuilding Architecture to support national efforts to sustain peace.

    Underscoring this, we must recall that crucially, sustainable peace can only be achieved through inclusive peace processes, with the full, equal, meaningful and safe participation of women.

    Mr President, the UN Charter is our shared foundation.

    In this moment of global uncertainty, we must recommit to multilateralism, not as a slogan, but as a strategy.

    The United Kingdom stands ready to work with all Member States to this end, including to uphold peace, security, and the rule of law.

    Thank you.

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: IAM Union: Stop the Privatization of the Tennessee Valley Authority (TVA)

    Source: US GOIAM Union

    The IAM Union is calling on all members, allies, and community supporters to mobilize now and push back against renewed efforts to privatize the Tennessee Valley Authority (TVA)—a public institution that for more than a century has provided reliable, affordable energy to millions and supported thousands of good union jobs for decades.

    This is no hypothetical threat. Citing sources, The Atlantic is reporting that some members of the Trump administration are advancing an agenda to sell off the TVA to the highest bidder. The TVA board – now with only three members instead of its usual nine – has been told by the Trump administration to fire its CEO or risk being replaced.

    So far, the board has declined to do so, noting it had no cause and that the TVA has followed the Trump administration’s instructions of “unleashing American energy and achieving American energy dominance.”

    Privatizing TVA would:

    1. Destroy good-paying IAM union jobs and harm working families
    2. Increase electricity rates for communities across the region
    3. Eliminate oversight and public accountability
    4. Open the door to more attacks on other public utilities nationwide

    “Privatizing TVA would be a disaster for our members and for working people across the South,” said IAM Union Southern Territory General Vice President Craig Martin. “It’s a direct attack on union jobs, on affordable power, and on the idea that public resources should serve the public—not billion-dollar corporations. We will not sit back while they try to sell out our future.”

    “TVA was built by working people, for working people,” said IAM Union International President Brian Bryant. “The IAM is ready to fight tooth and nail to make sure it stays that way.”

    HERE’S WHAT YOU CAN DO:

    Send an email message to your Senators and Representative, telling them to protect TVA and union jobs.

    Call your Senators and Representative at 202-224-3121: Tell them to oppose any attempt to privatize TVA or weaken public oversight.

    The IAM has stood strong for working people for generations—and we’re not backing down now. Help us protect what’s ours. Help us protect the future.

    The post IAM Union: Stop the Privatization of the Tennessee Valley Authority (TVA) appeared first on IAM Union.

    MIL OSI USA News

  • MIL-OSI Security: #StopRansomware: Interlock

    Source: US Department of Homeland Security

    Summary

    Note: This joint Cybersecurity Advisory is part of an ongoing #StopRansomware effort to publish advisories for network defenders that detail various ransomware variants and ransomware threat actors. These #StopRansomware advisories include recently and historically observed tactics, techniques, and procedures (TTPs) and indicators of compromise (IOCs) to help organizations protect against ransomware. Visit stopransomware.gov to see all #StopRansomware advisories and to learn more about other ransomware threats and no-cost resources.

    The Federal Bureau of Investigation (FBI), Cybersecurity and Infrastructure Security Agency (CISA), Department of Health and Human Services (HHS), and Multi-State Information Sharing and Analysis Center (MS-ISAC)—hereafter referred to as “the authoring organizations”—are releasing this joint advisory to disseminate known Interlock ransomware IOCs and TTPs identified through FBI investigations (as recently as June 2025) and trusted third-party reporting.

    The Interlock ransomware variant was first observed in late September 2024, targeting various business, critical infrastructure, and other organizations in North America and Europe. FBI maintains these actors target their victims based on opportunity, and their activity is financially motivated. FBI is aware of Interlock ransomware encryptors designed for both Windows and Linux operating systems; these encryptors have been observed encrypting virtual machines (VMs) across both operating systems. FBI observed actors obtaining initial access via drive-by download from compromised legitimate websites, which is an uncommon method among ransomware groups. Actors were also observed using the ClickFix social engineering technique for initial access, in which victims are tricked into executing a malicious payload under the guise of fixing an issue on the victim’s system. Actors then use various methods for discovery, credential access, and lateral movement to spread to other systems on the network.

    Interlock actors employ a double extortion model in which actors encrypt systems after exfiltrating data, which increases pressure on victims to pay the ransom to both get their data decrypted and prevent it from being leaked. 

    FBI, CISA, HHS, and MS-ISAC encourage organizations to implement the recommendations in the Mitigations section of this advisory to reduce the likelihood and impact of Interlock ransomware incidents.

    Download the PDF version of this report:

    For a downloadable copy of IOCs, see:

    Note: This advisory uses the MITRE ATT&CK® Matrix for Enterprise framework, version 17. See the MITRE ATT&CK Tactics and Techniques section of this advisory for tables mapped to the threat actors’ activity.

    Overview

    Since September 2024, Interlock ransomware actors have impacted a wide range of businesses and critical infrastructure sectors in North America and Europe. These actors are opportunistic and financially motivated in nature and employ tactics to infiltrate and disrupt the victim’s ability to provide their essential services. 

    Interlock actors leverage a double extortion model, in which they both encrypt and exfiltrate victim data. Ransom notes do not include an initial ransom demand or payment instructions; instead, victims are provided with a unique code and are instructed to contact the ransomware group via a .onion URL through the Tor browser. To date, Interlock actors have been observed encrypting VMs, leaving hosts, workstations, and physical servers unaffected; however, this does not mean they will not expand to these systems in the future. To counter Interlock actors’ threat to VMs, enterprise defenders should implement robust endpoint detection and response (EDR) tooling and capabilities.

    The authoring agencies are aware of emerging open-source reporting detailing similarities between the Rhysida and Interlock ransomware variants.1 For additional information on Rhysida ransomware, see the joint advisory, #StopRansomware: Rhysida Ransomware.

    Initial Access

    FBI has observed Interlock actors obtaining initial access [TA0001] via drive-by download [T1189] from compromised legitimate websites, an atypical method for ransomware actors. Interlock ransomware methods for initial access have previously disguised malicious payloads as fake Google Chrome or Microsoft Edge browser updates, though a cybersecurity company recently reported a shift to payload filenames masquerading as updates for common security software (see Table 5 for a list of filenames).2

    In some instances, FBI has observed Interlock actors using the ClickFix social engineering technique, in which unsuspecting users are prompted to execute a malicious payload by clicking a fake Completely Automated Public Turing test to tell Computers and Humans Apart (CAPTCHA) [T1189]. The CAPTCHA contains instructions for users to open the Windows Run window, paste the clipboard contents, and then execute a malicious Base64-encoded PowerShell process [T1204.004].3

    Note: This ClickFix technique has been used in several other malware campaigns, including Lumma Stealer and DarkGate.4

    Execution and Persistence

    Based on FBI investigations, the fake Google Chrome browser executable functions as a remote access trojan (RAT) [T1105] designed to execute a PowerShell script [T1059.001] that drops a file into the Windows Startup folder. From there, the file is designed to run the RAT every time the victim logs in [T1547.001], establishing persistence [TA0003]. 

    FBI also observed instances in which Interlock actors executed a PowerShell command designed to establish persistence via a Windows Registry key modification [T1547.001]. To do so, Interlock actors used a PowerShell command [T1059.001] designed to add a run key value named “Chrome Updater” [T1036.005] that uses a specific log file as an argument upon user login.

    Reconnaissance

    To facilitate reconnaissance, a PowerShell script executes a series of commands [T1059.001] designed to gather information on victim machines (see Table 1).

    Table 1. PowerShell Commands for Reconnaissance
    PowerShell Command Description
    WindowsIdentity.GetCurrent() Returns a WindowsIdentity object that represents the current Windows user [T1033].
    systeminfo Displays detailed configuration information [T1082] about a computer and its operating system, including operating system configuration, security information, product ID, and hardware properties.
    tasklist/svc Lists unabridged service information [T1007] for each process currently running on the local computer.
    Get-Service Gets objects that represent the services [T1007] on a computer, including running and stopped services.
    Get-PSDrive

    Gets the drives [T1082] in the current session, such as:

    • Windows logical drives on the computer, including drives mapped to network shares.
    • Drives exposed by PowerShell providers.
    • Session-specified temporary drives and persistent mapped network drives.
       
    arp -a Displays and modifies entries in the Address Resolution Protocol (ARP) cache table [T1016], which contains entries on the IPv4 and IPv6 addresses on host endpoints.

    Command and Control

    FBI observed Interlock actors using command and control (C2) [TA0011] applications like Cobalt Strike and SystemBC. Interlock actors also used Interlock RAT5 and NodeSnake RAT (as of March 2025)6 for C2 and executing commands.

    Credential Access, Lateral Movement, and Privilege Escalation

    FBI observed that once Interlock actors establish remote control of a compromised system, they use a series of PowerShell commands to download a credential stealer (cht.exe) [TA0006] and keylogger binary (klg.dll) [T1056.001],[T1105]. According to open source reporting, the credential stealer collects login information and associated URLs for victims’ online accounts [T1555.003], while the keylogger dynamic link library (DLL) logs users’ keystrokes in a file named conhost.txt [T1036.005].7 As of February 2025, private cybersecurity analysts also observed Interlock ransomware infections executing different versions of information stealers [TA0006], including Lumma Stealer8 and Berserk Stealer, to harvest credentials for lateral movement and privilege escalation [T1078].9

    Interlock actors leverage compromised credentials and Remote Desktop Protocol (RDP)10 [T1021.001] to move between systems. They also use tools like AnyDesk to enable remote connectivity and PuTTY to assist with lateral movement [T1219].11 In addition to stealing users’ online credentials, Interlock actors have compromised domain administrator accounts (possibly by using a Kerberoasting attack [T1558.003])12 to gain additional privileges [T1078.002]. 

    Collection and Exfiltration

    Interlock actors leverage Azure Storage Explorer (StorageExplorer.exe) to navigate victims’ Microsoft Azure Storage accounts [T1530] prior to exfiltrating data. According to open source reporting, Interlock actors execute AzCopy to exfiltrate data by uploading it to the Azure storage blob [T1567.002].13 Interlock actors also exfiltrate data over file transfer tools, including WinSCP [T1048].

    Impact

    Following data exfiltration, Interlock actors deploy the encryption binary as a 64-bit executable named conhost.exe [T1486],[T1036.005]. FBI has observed Interlock ransomware encryptors for both Windows and Linux operating systems. Encryptors are designed to encrypt files using a combined Advanced Encryption Standard (AES) and Rivest-Shamir-Adleman (RSA) algorithm. In addition, cybersecurity researchers have identified Interlock ransomware samples using a FreeBSD ELF encryptor [T1486], a departure from usual Linux encryptors designed for VMware ESXi servers and VMs.14

    A cybersecurity company identified a DLL binary named tmp41.wasd—executed after encryption using rundll32.exe [T1218.011]—which uses the remove() function to delete the encryption binary [T1070.004];15 on Linux machines, the encryptor uses a similar technique to execute the removeme function. 

    Encrypted files are appended with either a .interlock or .1nt3rlock file extension, alongside a ransom note titled !__README__!.txt delivered via group policy object (GPO). Interlock actors use a double-extortion model [T1657], encrypting systems after exfiltrating data. The ransom note provides each victim with a unique code and instructions to contact the ransomware actors via a .onion URL. 

    Interlock actors do not leave an initial ransom demand or payment instructions on compromised networks, and do not relay this information until contacted by the victim. The actors instruct victims to make ransom payments in Bitcoin to cryptocurrency wallet addresses provided by the actors. The actors threaten to publish the victim’s exfiltrated data to their leak site on the Tor network unless the victim pays the ransom demand; the actors have previously followed through on this threat.16

    See Table 2 for publicly available tools and applications used by Interlock ransomware actors. This includes legitimate tools repurposed for their operations.

    Disclaimer: Use of these tools and applications should not be attributed as malicious without analytical evidence to support threat actor use and/or control.

    Table 2. Tools Used by Interlock Ransomware Actors
    Tool Name Description
    AnyDesk A common legitimate remote monitoring and management (RMM) tool maliciously used by Interlock actors to obtain remote access and maintain persistence. AnyDesk also supports remote file transfer.
    Cobalt Strike A penetration testing tool used by security professionals to test the security of networks and systems.
    PowerShell A cross-platform task automation solution made up of a command-line shell, a scripting language, and a configuration management framework, which runs on Windows, Linux, and macOS.
    PSExec A tool designed to run programs and execute commands on remote systems.
    PuTTY.exe An open source file transfer application commonly used to remotely connect to systems via Secure Shell (SSH). PuTTY also supports file transfer protocols like Secure File Transfer Protocol (SFTP) and Secure Copy Protocol (SCP).
    ScreenConnect A remote support, access, and meeting software that allows users to control devices remotely over the internet. CISA observed Interlock actors using a cracked version of this software in at least one incident. These versions may be standalone versions not connecting to ScreenConnect’s official cloud domains (domains available upon request from ConnectWise).
    SystemBC Enables Interlock actors to compromise systems, run commands, download malicious payloads, and act as a proxy tool to the actors’ C2 servers.
    Windows Console Host Windows Console Host (conhost.exe) manages the user interface for command-line applications in Windows, including Command Prompt and PowerShell. 
    WinSCP A free and open source SSH File Transfer Protocol (FTP), WebDAV, Amazon S3, and secure copy protocol client.

    See Table 3 and Table 4 for files used by Interlock ransomware actors. These were obtained from FBI investigations as recently as June 2025.

    Disclaimer: Some of the hashes are for legitimate tools and applications and should not be attributed as malicious without analytical evidence to support threat actor use and/or control. The authoring agencies recommend organizations investigate or vet these hashes prior to taking action, such as blocking.

    Table 3. Files Used by Interlock Ransomware Actors (SHA-256)
    File Name Hash
    1.ps1 fba4883bf4f73aa48a957d894051d78e0085ecc3170b1ff50e61ccec6aeee2cd 
    advanced_port_scanner.exe 4b036cc9930bb42454172f888b8fde1087797fc0c9d31ab546748bd2496bd3e5
    Aisa.exe 18a507bf1c533aad8e6f2a2b023fbbcac02a477e8f05b095ee29b52b90d47421
    AnyDesk.exe 1a70f4eef11fbecb721b9bab1c9ff43a8c4cd7b2cafef08c033c77070c6fe069
    autoservice.dll a4069aa29628e64ea63b4fb3e29d16dcc368c5add304358a47097eedafbbb565
    Autostart.exe d535bdc9970a3c6f7ebf0b229c695082a73eaeaf35a63cd8a0e7e6e3ceb22795
    cht FAFCD5404A992850FFCFFEE46221F9B2FF716006AECB637B80E5CD5AA112D79C
    cht.exe C20BABA26EBB596DE14B403B9F78DDC3C13CE9870EEA332476AC2C1DD582AA07
    cleanup.dll (SystemBC) 1845a910dcde8c6e45ad2e0c48439e5ab8bbbeb731f2af11a1b7bbab3bfe0127
    conhost 44887125aa2df864226421ee694d51e5535d8c6f70e327e9bcb366e43fd892c1
    conhost.dll a70af759e38219ca3a7f7645f3e103b13c9fb1db6d13b68f3d468b7987540ddf
    conhost.dll 96babe53d6569ee3b4d8fc09c2a6557e49ebc2ed1b965abda0f7f51378557eb1
    difxepi.dll (SystemBC) 1845a910dcde8c6e45ad2e0c48439e5ab8bbbeb731f2af11a1b7bbab3bfe0127
    iexplore.exe d0c1662ce239e4d288048c0e3324ec52962f6ddda77da0cb7af9c1d9c2f1e2eb
    klg.dll A4F0B68052E8DA9A80B70407A92400C6A5DEF19717E0240AC608612476E1137E
    !!!OPEN_ME!!!.txt 68A49D5A097E3850F3BB572BAF2B75A8E158DADB70BADDC205C2628A9B660E7A
    processhacker-2.39-bin.zip 88f26f3721076f74996f8518469d98bf9be0eaee5b9eccc72867ebfc25ea4e83
    PsExec.exe 078163d5c16f64caa5a14784323fd51451b8c831c73396b967b4e35e6879937b
    putty.exe 7a43789216ce242524e321d2222fa50820a532e29175e0a2e685459a19e09069
    puttyportable.exe 97931d2e2e449ac3691eb526f6f60e2f828de89074bdac07bd7dbdfd51af9fa0
    PuTTYPortable.zip ff7ad2376ae01e4b3f1e1d7ae630f87b8262b5c11bc5d953e1ac34ffe81401b5
    qrpce91.exe.asd 64a0ab00d90682b1807c5d7da1a4ae67cde4c5757fc7d995d8f126f0ec8ae983
    ScreenConnect.ClientService.exe 2814b33ce81d2d2e528bb1ed4290d665569f112c9be54e65abca50c41314d462
    SophosendpointAgent.exe f51b3d054995803d04a754ea3ff7d31823fab654393e8054b227092580be43db
    SophosScaner.exe dfb5ba578b81f05593c047f2c822eeb03785aecffb1504dcb7f8357e898b5024
    Starship.exe 94bf0aba5f9f32b9c35e8dfc70afd8a35621ed6ef084453dc1b10719ae72f8e2
    start 28c3c50d115d2b8ffc7ba0a8de9572fbe307907aaae3a486aabd8c0266e9426f
    start.exe 70bb799557da5ac4f18093decc60c96c13359e30f246683815a512d7f9824c8f
    StorageExplorer.exe 73a9a1e38ff40908bcc15df2954246883dadfb991f3c74f6c514b4cffdabde66
    Sysmon.sys 1d04e33009bcd017898b9e1387e40b5c04279c02ebc110f12e4a724ccdb9e4fb
    upd_2327991.exe 7b9e12e3561285181634ab32015eb653ab5e5cfa157dd16cdd327104b258c332
    webujgd.lnk 70EE22D394E107FBB807D86D187C216AD66B8537EDC67931559A8AEF18F6B5B3
    WinSCP-6.3.5-Setup.exe 8eb7e3e8f3ee31d382359a8a232c984bdaa130584cad11683749026e5df1fdc3
    Proxy Tool e4d6fe517cdf3790dfa51c62457f5acd8cb961ab1f083de37b15fd2fddeb9b8f
    Encryptor e86bb8361c436be94b0901e5b39db9b6666134f23cce1e5581421c2981405cb1
    Encryptor c733d85f445004c9d6918f7c09a1e0d38a8f3b37ad825cd544b865dba36a1ba6
    Encryptor 28c3c50d115d2b8ffc7ba0a8de9572fbe307907aaae3a486aabd8c0266e9426f
    Table 4. Files Used by Interlock Ransomware Actors (SHA-1)
    File Name Hash
    autorun.log 514946a8fc248de1ccf0dbeee2108a3b4d75b5f6
    jar.jar b625cc9e4024d09084e80a4a42ab7ccaa6afb61d
    pack.jar 3703374c9622f74edc9c8e3a47a5d53007f7721e

    See Table 5 through Table 16 for all referenced threat actor tactics and techniques in this advisory. For assistance with mapping malicious cyber activity to the MITRE ATT&CK framework, see CISA and MITRE ATT&CK’s Best Practices for MITRE ATT&CK Mapping and CISA’s Decider Tool.

    Table 5. Initial Access
    Technique Title ID Use
    Drive-By Compromise T1189

    Interlock actors obtain initial access by compromising a legitimate website that network users visit, or by disguising malicious payloads as fake browser updates or common security software, including the following:17

    • FortiClient.exe
    • Ivanti-Secure-Access-Client.exe
    • GlobalProtect.exe
    • Webex.exe
    • AnyConnectVPN.exe
    • Cisco-Secure-Client.exe
    • zyzoom_antimalware.exe

    Interlock actors also gain access via the ClickFix social engineering technique, in which users are tricked into executing a malicious payload by clicking on a fake CAPTCHA that prompts users to execute a malicious PowerShell script. 
     

    Table 6. Execution
    Technique Title ID Use
    Command and Scripting Interpreter: PowerShell T1059.001 

    Interlock actors implement PowerShell scripts to drop a malicious file into the Windows Startup folder.

    Interlock actors execute a PowerShell command for registry key modification.

    Interlock actors use a PowerShell script to execute a series of commands to facilitate reconnaissance.

    User Execution: Malicious Copy and Paste T1204.004 Via the ClickFix social engineering technique, users are tricked into clicking a fake CAPTCHA and prompted into executing a malicious Base64-encoded PowerShell process by following instructions to open a Windows Run window (Windows Button + R), pasting clipboard contents (“CTRL + V”), and then executing the malicious script (“Enter”).
    Table 7. Persistence
    Technique Title ID Use
    Boot or Logon Autostart Execution: Registry Run Keys/Startup Folder T1547.001

    Interlock actors establish persistence by adding a file into a Windows StartUp folder that executes a RAT every time a user logs in.

    Interlock actors also implement registry key modification by using a PowerShell command to add a run key value (named “Chrome Updater”) that uses a log file as an argument every time a user logs in.
     

    Table 8. Privilege Escalation
    Technique Title ID Use
    Valid Accounts: Domain Accounts T1078.002 Interlock actors compromise domain administrator accounts to gain additional privileges. 
    Table 9. Defense Escalation
    Technique Title ID Use
    Defense Evasion TA0005 Interlock actors execute the removeme function on Linux systems to delete the encryption binary for defense evasion. 
    Masquerading: Match Legitimate Resource Name or Location T1036.005

    Interlock actors disguise a malicious run key value by naming it “Chrome Updater”; the run key value uses a specific log file as an argument upon user login.

    Interlock actors disguise files of keystrokes logged by one of their credential stealers with a legitimate Windows filename: conhost.txt.

    Interlock actors disguise an encryption binary, a 64-bit executable, by giving it the same name as the legitimate Console Windows Host executable: conhost.exe

    System Binary Proxy Execution: Rundll32 T1218.011 Interlock actors use rundll32.exe to proxy execution of a malicious DLL binary tmp41.wasd
    Indicator Removal: File Deletion T1070.004 Interlock actors execute a DLL binary tmp41.wasd that uses the remove() function to delete their encryption binary for defense evasion. 
    Table 10. Credential Access
    Technique Title ID Use
    Credential Access TA0006 Interlock actors download credential stealer cht.exe and execute other versions information stealers (including Lumma Stealer and Berserk Stealer) to harvest credentials.
    Credentials from Password Stores: Credentials from Web Browsers T1555.003 Interlock actors download a credential stealer that collects login information and associated URLs for victims’ online accounts.
    Input Capture T1056 Interlock actors execute Lumma Stealer and Berserk Stealer information stealers on victim systems.
    Input Capture: Keylogging T1056.001 Interlock actors download klg.dll, a keylogger binary, onto compromised systems, where it logs users’ keystrokes in a file named conhost.txt
    Steal or Forge Kerberos Tickets: Kerberoasting T1558.003 Interlock actors possibly use a Kerberoasting attack to compromise domain administrator accounts. 
    Table 11. Discovery
    Technique Title ID Use
    System Owner/User Discovery T1033 Interlock actors execute a PowerShell command WindowsIdentity.GetCurrent() on victim systems to retrieve a WindowsIdentity object that represents the current Windows user.
    System Information Discovery T1082

    Interlock actors execute a PowerShell command systeminfo on victim systems to access detailed configuration information about the system, including OS configuration, security information, product ID, and hardware properties.

    Interlock actors execute a PowerShell command Get-PSDrive on victim systems to discover the drives in the current session, such as: 

    • Windows logical drives on the computer, including drives mapped to network shares.
    • Drives exposed by PowerShell providers.
    • Session-specified temporary drives and persistent mapped network drives.
    System Service Discovery T1007

    Interlock actors execute a PowerShell command tasklist /svc on victim systems that lists service information for each process currently running on the system. 

    Actors also execute a PowerShell command Get-Service on victim systems that retrieves objects that represent the services (including running and stopped services) on the system.

    System Network Configuration Discovery T1016 Interlock actors execute a PowerShell command arp -a on victim systems that displays and modifies entries in the Address Resolution Protocol (ARP) cache table (which contains entries on the IPv4 and IPv6 addresses on host endpoints).
    Table 12. Lateral Movement
    Technique Title ID Use
    Valid Accounts T1078 Interlock actors harvest and abuse valid credentials for lateral movement and privilege escalation.
    Remote Services: Remote Desktop Protocol T1021.001 Interlock actors use RDP and valid credentials to move laterally between systems.
    Table 13. Collection
    Technique Title ID Use
    Data from Cloud Storage T1530 Interlock actors use StorageExplorer.exe, the cloud storage solution Azure Storage Explorer, to explore Microsoft Azure Storage accounts. 
    Table 14. Command and Control
    Technique Title ID Use
    Command and Control TA0011 Interlock actors use applications Cobalt Strike and SystemBC for C2. 
    Ingress Tool Transfer T1105

    Interlock actors use a fake Google Chrome or Microsoft Edge browser update to cause users to execute a RAT on the victimized system.

    Interlock actors download credential stealers (cht.exe) and keylogger binaries (klg.dll) once actors establish remote control of a compromised system. 

    Remote Access Tools T1219 Interlock actors use legitimate remote access tools such as AnyDesk to enable remote connectivity and PuTTY to assist with lateral movement.
    Table 15. Exfiltration
    Technique Title  ID Use
    Exfiltration Over Web Service: Exfiltration to Cloud Storage T1567.002 Interlock actors exfiltrate data to cloud storage by executing AzCopy to upload data to the Azure storage blob.
    Exfiltration Over Alternative Protocol T1048 Interlock actors use file transfer tools like WinSCP to exfiltrate data.
    Table 16. Impact
    Technique Title  ID Use
    Data Encrypted for Impact T1486

    Interlock actors encrypt victim data using a combined AES and RSA algorithm on compromised systems to interrupt availability to system and network resources. Actors code encryptors using C/C++. Interlock actors use encryptors for both Windows and Linux operating systems. 

    Interlock actors also use a FreeBSD ELF encryptor to encrypt victim data. 

    Financial Theft   T1657 Interlock actors deliver a ransom note titled !__README__!.txt via a GPO which provides victims with instructions to use a .onion URL to contact the actors over the Tor network. Actors use a double-extortion model, both encrypting victim data and threatening release of victim data on their Tor network leak site if the ransom is not paid.

    The authoring agencies recommend organizations implement the mitigations below to improve your organization’s cybersecurity posture on the basis of the Interlock ransomware actors’ activity. These mitigations align with the Cross-Sector Cybersecurity Performance Goals (CPGs) developed by CISA and the National Institute of Standards and Technology (NIST). The CPGs provide a minimum set of practices and protections that CISA and NIST recommend all organizations implement. CISA and NIST based the CPGs on existing cybersecurity frameworks and guidance to protect against the most common and impactful threats and TTPs. Visit CISA’s CPGs webpage for more information on the CPGs, including additional recommended baseline protections.

    In addition to the below mitigations, Healthcare and Public Health (HPH) organizations should use HPH Sector CPGs to implement cybersecurity protections to address the most common threats and TTPs used against this sector.

    At-risk organizations should implement the following mitigations:

    • Prevent Interlock ransomware actors from obtaining initial access:
      • Implement domain name system (DNS) filtering to block users from accessing malicious sites and applications.
      • Implement web access firewalls to mitigate and prevent unknown commands or process injection from malicious domains or websites.
      • Train users [CPG 2.I] to identify, avoid, and report social engineering attempts.
    • Implement a recovery plan [CPG 5.A] to maintain and retain multiple copies of sensitive or proprietary data and servers in a physically separate, segmented, and secure location (e.g., hard drive, storage device, the cloud) [CPG 2.R].
    • Require all accounts with password logins (e.g., service accounts, admin accounts, and domain admin accounts) to comply with NIST password standards.
      • Require employees to use long passwords [CPG 2.B] and consider not requiring recurring password changes, as these can weaken security.
    • Require MFA [CPG 2.H] for all services to the extent possible, particularly for webmail, virtual private networks (VPNs), and accounts that access critical systems.
      • Implement ICAM policies across the organization as a precursor to MFA.
    • Keep all operating systems, software, and firmware up to date; prioritize patching known exploited vulnerabilities in internet-facing systems [CPG 1.E].
      • Timely patching is efficient and cost effective for minimizing an organization’s exposure to cybersecurity threats.
    • Implement robust EDR capabilities on VMs, systems, and networks.
    • Segment networks [CPG 2.F] to prevent the spread of ransomware.
      • Network segmentation can help prevent the spread of ransomware by controlling traffic flows between—and access to—various subnetworks and by restricting adversary lateral movement.
    • Identify, detect, and investigate abnormal activity and potential traversal of the indicated ransomware [CPG 3.A] with a networking monitoring tool [CPG 2.T].
      • To aid in detecting ransomware, implement a tool that logs and reports all network traffic, including lateral movement activity on a network.
      • Implement EDR tools; these are useful for detecting lateral connections as they provide insight into common and uncommon network connections for each host.
    • Filter network traffic by preventing unknown or untrusted origins from accessing remote services on internal systems.
      • This prevents threat actors from directly connecting to remote access services that they have established for persistence.
    • Install, regularly update, and enable real time detection for antivirus software on all hosts.
    • Review domain controllers, servers, workstations, and active directories for new and/or unrecognized accounts.
    • Audit user accounts with administrative privileges and configure access controls according to the principle of least privilege [CPG 2.E].
    • Disable unused ports.
    • Consider adding an email banner to emails received from outside of your organization [CPG 2.M].
    • Disable hyperlinks in received emails.
    • Implement time-based access for accounts set at the admin level and higher; for example, the just-in-time (JIT) access method provisions privileged access when needed and can support enforcement of the principle of least privilege (as well as the Zero Trust model):
      • This is a process where a network-wide policy is set in place to automatically disable admin accounts at the Active Directory level when the account is not in direct need.
      • Individual users may submit their requests through an automated process that grants them access to a specified system for a set timeframe when they need to support the completion of a certain task.
    • Disable command line and scripting activities and permissions [CPG 2.N].
      • Disabling software utilities that run from the command line makes it more difficult for threat actors to escalate privileges and move laterally.
    • Maintain offline backups of data and regularly maintain backups and restorations [CPG 2.R]; this avoids severe service interruption and irretrievable data in the event of a compromise.
    • Ensure all backup data is encrypted, immutable (i.e., cannot be altered or deleted), and covers the entire organization’s data infrastructure [CPG 2.R].

    In addition to applying mitigations, the authoring agencies recommend exercising, testing, and validating your organization’s security program against the threat behaviors mapped to the MITRE ATT&CK for Enterprise framework in this advisory. The authoring agencies recommend testing your existing security controls inventory to assess how they perform against the ATT&CK techniques described in this advisory.

    To get started:

    1. Select an ATT&CK technique described in this advisory (see Table 5 through Table 16).
    2. Align your security technologies against the technique.
    3. Test your technologies against the technique.
    4. Analyze your detection and prevention technologies’ performance.
    5. Repeat the process for all security technologies to obtain a set of comprehensive performance data.
    6. Tune your security program, including people, processes, and technologies, based on the data generated by this process.

    The authoring agencies recommend continually testing your security program, at scale, in a production environment to ensure optimal performance against the MITRE ATT&CK techniques identified in this advisory.

    Your organization has no obligation to respond or provide information back to FBI in response to this joint advisory. If, after reviewing the information provided, your organization decides to provide information to FBI, reporting must be consistent with applicable state and federal laws.

    FBI is interested in any information that can be shared, to include boundary logs showing communication to and from foreign IP addresses, a sample ransom note, communications with threat actors, Bitcoin wallet information, decryptor files, and/or a benign sample of an encrypted file.

    Additional details of interest include a targeted company point of contact, status and scope of infection, estimated loss, operational impact, transaction IDs, date of infection, date detected, initial attack vector, and host- and network-based indicators.

    The authoring agencies do not encourage paying ransom as payment does not guarantee victim files will be recovered. Furthermore, payment may also embolden adversaries to target additional organizations, encourage other criminal actors to engage in the distribution of ransomware, and/or fund illicit activities. Regardless of whether you or your organization have decided to pay the ransom, FBI and CISA urge you to promptly report ransomware incidents to FBI’s Internet Crime Complain Center (IC3), a local FBI Field Office, or CISA via the agency’s Incident Reporting System or its 24/7 Operations Center (contact@mail.cisa.dhs.gov) or by calling 1-844-Say-CISA (1-844-729-2472).

    State, local, tribal, and territorial governments should report incidents to the MS-ISAC (SOC@cisecurity.org or 866-787-4722).

    HPH Sector organizations should report incidents to FBI or CISA but also can reach out to HHS at HHScyber@hhs.gov for cyber incident support focused on mitigating adverse patient impacts.

    The information in this report is being provided “as is” for informational purposes only. The authoring agencies do not endorse any commercial entity, product, company, or service, including any entities, products, or services linked within this document. Any reference to specific commercial entities, products, processes, or services by service mark, trademark, manufacturer, or otherwise, does not constitute or imply endorsement, recommendation, or favor by the authoring agencies. 

    Cisco Talos contributed to this advisory.

    July 22, 2025: Initial version.

    1 Elio Biasiotto, et. al., “Unwrapping the Emerging Interlock Ransomware Attack,” Talos Intelligence (blog), Cisco Talos, last modified November 7, 2024, https://blog.talosintelligence.com/emerging-interlock-ransomware/.

    2 Sekoia Threat Detection and Research team, “Interlock Ransomware Evolving Under the Radar,” Sekoia (blog), Sekoia, last modified April 16, 2025, https://blog.sekoia.io/interlock-ransomware-evolving-under-the-radar/.

    3 Yashvi Shah and Vignesh Dhatchanamoorthy, “ClickFix Deception: A Social Engineering Tactic to Deploy Malware,” McAfee Labs (blog), McAfee,last modified June 11, 2024, https://www.mcafee.com/blogs/other-blogs/mcafee-labs/clickfix-deception-a-social-engineering-tactic-to-deploy-malware/ and “HC3 Sector Alert: ClickFix Attacks,” Health Sector Cybersecurity Coordination Center, Department of Health and Human Services, last modified October 29, 2024, https://www.hhs.gov/sites/default/files/clickfix-attacks-sector-alert-tlpclear.pdf.

    4 Shah, “ClickFix Deception: A Social Engineering Tactic to Deploy Malware.”

    5 Sekoia Threat Detection and Research team, “Interlock Ransomware Evolving Under the Radar.

    6 Bill Toulas, “Interlock Ransomware Gang Deploys New NodeSnake RAT on Universities,“ Bleeping Computer, May 28, 2025, https://www.bleepingcomputer.com/news/security/interlock-ransomware-gang-deploys-new-nodesnake-rat-on-universities/.

    7 Biasiotto, “Unwrapping the Emerging Interlock Ransomware Attack.”

    8 International law-enforcement and Microsoft took down the Lumma Stealer malware in May 2025 by seizing internet domains the actors used to distribute the malware to actors and taking down domains that hosted the malware’s infrastructure. For more information, see Tara Seals, “Lumma Stealer Takedown Reveals Sprawling Operation,” Dark Reading, May 21, 2025, https://www.darkreading.com/cybersecurity-operations/lumma-stealer-takedown-sprawling-operation, and Steven Masada, “Disrupting Lumma Stealer: Microsoft Leads Global Action Against Favored Cybercrime Tool,” Microsoft On the Issues (blog), Microsoft, last modified May 21, 2025, https://blogs.microsoft.com/on-the-issues/2025/05/21/microsoft-leads-global-action-against-favored-cybercrime-tool/.

    9 Sekoia Threat Detection and Research team, “Interlock Ransomware Evolving Under the Radar.”

    10 Biasiotto, “Unwrapping the Emerging Interlock Ransomware Attack.”

    11 Biasiotto, “Unwrapping the Emerging Interlock Ransomware Attack.”

    12 Biasiotto, “Unwrapping the Emerging Interlock Ransomware Attack.”

    13 Biasiotto, “Unwrapping the Emerging Interlock Ransomware Attack.”

    14 Lawrence Abrams, “Meet Interlock — The New Ransomware Targeting FreeBSD Servers,” Bleeping Computer, November 3, 2024, https://www.bleepingcomputer.com/news/security/meet-interlock-the-new-ransomware-targeting-freebsd-servers/.

    15 Biasiotto, “Unwrapping the Emerging Interlock Ransomware Attack.”

    16 Graham Cluley, “Interlock Ransomware: What You Need to Know,” Fortra (blog), Fortra, last modified May 30, 2025, https://www.tripwire.com/state-of-security/interlock-ransomware-what-you-need-know.

    17 Sekoia Threat Detection and Research team, “Interlock Ransomware Evolving Under the Radar.”

    MIL Security OSI

  • MIL-OSI United Kingdom: Strategic Escort Group officers complete fire safety refresher

    Source: United Kingdom – Government Statements

    News story

    Strategic Escort Group officers complete fire safety refresher

    Strategic Escort Group completed fire safety refresher training, reinforcing vital emergency skills for secure nuclear transport in high-risk environments.

    Officers from the Civil Nuclear Constabulary’s (CNC) Strategic Escort Group (SEG) have successfully completed a rigorous fire safety refresher course as part of their ongoing professional standards and safety preparedness programme.

    SEG is a specialist unit responsible for the armed escort and secure transport of nuclear assets by road, rail, and sea. Operating in complex environments, SEG officers are trained to the highest standards in tactical firearms, maritime operations, and emergency response.

    As part of their ongoing certification, SEG officers undertook refresher training in accordance with the Standards of Training, Certification and Watchkeeping (STCW) framework – a globally recognised benchmark for maritime safety and emergency response.

    The training covered proficiency in fire prevention and firefighting, and updated proficiency in personal survival techniques.

    While these courses are refresher versions of their initial qualifications, they are designed to rigorously assess and reinforce critical safety skills in high-pressure scenarios.

    The final assessment featured a real-fire simulation, in which officers tackled an intense blaze aboard a mock vessel while wearing full breathing apparatus. Though the ship environment was a controlled training setup, the fire, heat, and physical demands were entirely real, replicating the kind of challenges SEG officers may face during maritime deployments.

    This training underscores the SEG’s commitment to operational readiness and ensures that officers remain equipped to respond swiftly and effectively in life-threatening environments.

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: AFRICA/NIGERIA – Father Afina, kidnapped on June 1, has been released

    Source: Agenzia Fides – MIL OSI

    Abuja (Agenzia Fides) – Father Alphonsus Afina, who was kidnapped on June 1 (see Fides, 5/6/2025), has been released thanks to an operation by security forces.The priest was rescued yesterday, July 21, along with ten women who were also held hostage, during a joint operation by the Department of State Services (DSS, the internal intelligence service under the Federal Presidency) and the Nigerian army, carried out in Borno State, in northeastern Nigeria.“We are deeply grateful for the professionalism and courage demonstrated by the DSS and the Nigerian army,” said Msgr. John Bogna Bakeni, Auxiliary Bishop of Maiduguri (capital of Borno State). “The safe return of Father Afina after nearly two months of captivity is a testament to the commitment of our security agencies.”Father Afina was kidnapped on the evening of Sunday, June 1, near Gwoza while returning to Maiduguri after celebrating Mass. Bishop Bakeni recalled that the priest was traveling from Mubi, in Adamawa State, to Maiduguri when an armed group ambushed his convoy near a military checkpoint. The attackers fired shots and threw a grenade at one of the vehicles, killing one passenger and taking the others hostage.The Gwoza area is unsafe due to the presence of Boko Haram’s two main factions: Jama’tu Ahlis Sunna Lidda’awati wal-Jihad (JAS) and the Islamic State West Africa Province (ISWAP), which has joined the Islamic State as its “West Africa Province” (see Fides, 2/7/2024).The news of Father Afina’s kidnapping caused great shock in the US diocese of Fairbanks, where the priest had served for six and a half years in the villages of the Seward Peninsula, from 2017 to 2024. (L.M.) (Agenzia Fides, 22/7/2025)
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  • MIL-OSI Europe: ASIA/TURKEY – Ecumenical Patriarch Bartholomew: In the attack on the Church in Gaza, those seeking refuge in this time of trial and tribulation were hit

    Source: Agenzia Fides – MIL OSI

    Tuesday, 22 July 2025

    Patriarchate of Constantinople

    by Nikos TzoitisIstanbul (Agenzia Fides) – Christian unity is based on shared baptism. It is not uniformity, and it draws from the source of the one truth to be shared, that of the Gospel. With these words, the Ecumenical Patriarch of Constantinople, Bartholomew I, welcomed on Sunday, July 20, a group of Catholic and Orthodox pilgrims heading to Nicaea (modern-day Iznik), led by Orthodox Archbishop Elpidophoros of America and Cardinal Joseph Tobin, Archbishop of Newark, at the Church of St. George in Fanar, the seat of the Ecumenical Patriarchate. In his address to the participants of the ecumenical pilgrimage, the “Primus inter pares” among the Primates of the Orthodox Churches also expressed strong words regarding the recent attack by the Israeli army on the Catholic parish of the Holy Family in Gaza City.The pilgrimage also stopped in Rome and Castel Gandolfo, where the group was received in audience by Pope Leo XIV on July 17. In that audience, Pope Leo had given an intense speech on the loving discipleship of Christ as the sole source of Church unity.”It is very significant,” Patriarch Bartholomew told the group of pilgrims, “that you are walking on the same land where the bishops of the early Church gathered to contemplate the Mystery of Christ and to preserve communion among the Churches. Nicaea remains a symbol of the harmony and apostolic unity that we are called to renew today.””From ‘Ancient Rome’ to ‘New Rome’,” the Ecumenical Patriarch continued, “with this joy, we welcome you today in the holy and historic city of Constantinople – New Rome – as you continue your blessed pilgrimage. Your journey has led you from the tombs of Apostles Peter and Paul in Rome to the See of Saint Andrew in Constantinople, and then to the ancient city of Nicaea. This pilgrimage “is a visible testament to the Spirit working among us, guiding us towards reconciliation, understanding, and unity.”Bartholomew I, referring to the words addressed by the group of pilgrims by Leo XIV, stated that he shares with the Bishop of Rome “this holy desire for unity – a unity not based on uniformity, but on the common truth of the Gospel, mutual love, and our shared baptism into the death and resurrection of our Lord Jesus Christ.”The pilgrimage of the group from the United States coincides with the 1700th anniversary of the First Ecumenical Council of Nicaea, which affirmed Christ’s divinity and the unity of the Church around the confession of the true faith.”We rejoice in particular,” the Ecumenical Patriarch continued, “for the shared Easter celebration by Eastern and Western Christians this year. This shared proclamation of the Resurrection allows us to bear witness with one voice to the redeeming hope that overcomes sin, death, and division. It is a foretaste of the full communion that awaits us, not only for our Churches but for a world longing for peace, justice, and spiritual renewal.”The pilgrimage of the group from the United States, Bartholomew I emphasized, “also reminds us that the ecumenical path is not merely the end of a theological commitment, but a spiritual call. We must return to Jerusalem, to that upper room where the Holy Spirit descended and where fear was transformed into the courage of proclamation. In this pilgrimage of hope, may each of you be strengthened by the fire of Pentecost, bringing Christ to a world wounded by war, injustice, and despair.”Referring to the conflicts and wars that are bleeding the world, the Ecumenical Patriarch spoke eloquently about the recent attack by the Israeli army on the Catholic church in Gaza. “We deplore,” said Bartholomew I, “this terrible act which was not only against a place of worship but against a sacred space cherished deeply by the late Pope Francis, who maintained daily contact with the church’s priest even during his illness since the outbreak of the war. This,” continued the Ecumenical Patriarch, “was an attack not only on a place of worship but on a sanctuary where hundreds of people, regardless of their religion, found a home and refuge during this time of trial and tribulation.”For this reason, the Ecumenical Patriarch stressed, “I have asked Cardinal Tobin to convey our heartfelt condolences to our brother Pope Leo. Your Eminence, we ask you to assure His Holiness that we raise our voice with him for an immediate ceasefire and the end of this war, and together we pray to the Lord of Peace, for the repose of the innocent victims, the speedy recovery of the wounded, and comfort for their families.”Concluding his address, Bartholomew I wished the members of the group, “may your pilgrimage here to the Queen of Cities strengthen your faith, renew your hope, and foster your love for the Church and for others. We assure you of our prayers, blessings, and ongoing commitment to walk together, Orthodox and Catholic alike, as disciples of the Risen Lord. In this spirit,” added the Ecumenical Patriarch of Constantinople, “we are looking forward to our upcoming meeting with Pope Leo during the feast of Saint Andrew, founder and patron of the Church of Constantinople, continuing to implore the Holy Spirit to guide us to the day when we will gather again around the same altar, sharing the one Body and chalice of our Lord, the only Head of His Church, for whom He sacrificed Himself.”(Agenzia Fides, 22/7/2025)
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  • MIL-OSI USA: Cammack Applauds $675.9 Million in Disaster Relief for Florida Farmers

    Source: United States House of Representatives – Congresswoman Kat Cammack (R-FL-03)

    Washington, DC — Today, Congresswoman Kat Cammack (FL-03) released the following statement following U.S. Secretary of Agriculture Brooke Rollins’ announcement of $675.9 million in federal disaster assistance for Florida farmers impacted by Hurricanes Idalia, Debby, Helene, and Milton:

    “Florida’s agriculture industry isn’t just the backbone of our state’s economy—it’s a cornerstone of our national food security. From citrus growers and cattle ranchers to timber operations and family farms, the devastation from back-to-back storms has been overwhelming. This $675.9 million investment will go a long way in helping our producers rebuild infrastructure, recover lost income, and stay in business,” said Congresswoman Cammack. “I want to thank President Trump, Secretary Rollins, and our state partner, Agriculture Commissioner Wilton Simpson, for recognizing the urgent needs on the ground and delivering the targeted, meaningful relief our ag community needs and deserves.”
     
    Background:

    As the lone voice for Florida Agriculture at the federal level, Congresswoman Cammack has championed policies and relief for Florida’s agricultural community—from securing disaster assistance and pushing back against unfair trade practices to advancing pro-farmer policies through her work on the House Agriculture and Energy and Commerce Committees.

    The disaster funding, made possible through the American Relief Act of 2025, is part of a broader $30 billion USDA initiative to assist producers across 14 states recovering from extreme weather events. Florida’s share of the block grant will be used to cover losses in infrastructure, citrus, timber, and direct-to-market sales not addressed by other USDA programs.

    ###

    MIL OSI USA News

  • MIL-OSI United Nations: Secretary-General’s remarks on Climate Action “A Moment of Opportunity: Supercharging the Clean Energy Age” [as delivered; scroll down for All-French]

    Source: United Nations secretary general

    Excellencies,

    Ladies and gentlemen,

    Friends joining us from around the world,  

    The headlines are dominated by a world in trouble. 

    By conflict and climate chaos.

    By rising human suffering.

    By growing geo-political divides.

    But amidst the turmoil, another story is being written.

    And its implications will be profound.

    Throughout history, energy has shaped the destiny of humankind – from mastering
    fire, to harnessing steam, to splitting the atom.

    Now, we are on the cusp of a new era. 

    Fossil fuels are running out of road.

    The sun is rising on a clean energy age.

    Just follow the money.

    $2 trillion went into clean energy last year – that’s $800 billion more than fossil fuels, and up almost 70% in ten years.

    And new data released today from the International Renewable Energy Agency shows that solar – not so long ago four times the cost of fossil fuels – is now 41% cheaper.

    Offshore wind – 53%.

    And over 90% of new renewables worldwide produced electricity for less than the cheapest new fossil fuel alternative.

    This is not just a shift in power.  This is a shift in possibility.

    Yes, in repairing our relationship with the climate.

    Already, the carbon emissions saved by solar and wind globally are almost equivalent to what the whole European Union produces in a year.

    But this transformation is fundamentally about energy security and people’s security.

    It’s about smart economics.

    Decent jobs, public health, advancing the Sustainable Development Goals. 

    And delivering clean and affordable energy to everyone, everywhere.

    Today, we are releasing a special report with the support of UN agencies and partners — the International Energy Agency, the IMF, IRENA, the OECD and the World Bank.

    The report shows how far we have come in the decade since the Paris Agreement sparked a clean energy revolution.  And it highlights the vast benefits – and actions needed – to accelerate a just transition globally.

    Renewables already nearly match fossil fuels in global installed power capacity.

    And that’s just the beginning. 

    Last year, almost all the new power capacity built came from renewables. 

    And every continent on Earth added more renewables capacity than fossil fuels.

    The clean energy future is no longer a promise.  It’s a fact. 

    No government.  No industry.  No special interest can stop it. 

    Of course, the fossil fuel lobby of some fossil fuel companies will try – and we know the lengths to which they will go.

    But I have never been more confident that they will fail – because we have passed the point of no return.  

    For three powerful reasons. 

    First, market economics.

    For decades, emissions and economic growth rose together.

    No more.

    In many advanced economies, emissions have peaked, but growth continues.

    In 2023 alone, clean energy sectors drove 10% of global GDP growth.

    In India, 5%.  The United States, 6%. China – a leader in the energy transition – 20%.

    And in the European Union, nearly 33%.

    And clean energy sector jobs now outnumber fossil fuel jobs – employing almost 35 million people worldwide.

    Even Texas – the heart of the American fossil fuel industry – now leads the US in renewables.

    Why?  Because it makes economic sense.

    And yet fossil fuels still enjoy a 9 to 1 advantage in consumption subsidies globally – a clear market distortion. 

    Add to that the unaccounted costs of climate damages on people and planet – and the distortion is even greater.

    Countries that cling to fossil fuels are not protecting their economies – they are sabotaging them.

    Driving up costs.

    Undermining competitiveness.

    Locking-in stranded assets.

    And missing the greatest economic opportunity of the 21st century.

    Excellencies,
    Dear friends,

    Second — renewables are here to stay because they are the foundation of energy security and sovereignty.

    Let’s be clear:  The greatest threat to energy security today is in fossil fuels.

    They leave economies and people at the mercy of price shocks, supply disruptions, and geopolitical turmoil. 

    Just look at Russia’s invasion of Ukraine.  

    A war in Europe led to a global energy crisis.

    Oil and gas prices soared.

    Electricity and food bills followed.
     
    In 2022 average households around the world saw energy costs jump 20%. 

    Modern and competitive economies need stable, affordable energy.  Renewables offer both.

    There are no price spikes for sunlight.

    No embargoes on wind.

    Renewables can put power – literally and figuratively – in the hands of people and governments.

    And almost every nation has enough sun, wind, or water to become energy self-sufficient.

    Renewables mean real energy security.  Real energy sovereignty. And real freedom from fossil-fuel volatility.

    Dear friends,

    The third and final reason why there is no going back on renewables:  Easy access.

    You can’t build a coal plant in someone’s backyard.

    But you can deliver solar panels to the most remote village on earth.

    Solar and wind can be deployed faster, cheaper and more flexibly than fossil fuels ever could.

    And while nuclear will be part of the global energy mix, it can never fill the access gaps.

    All of this is a game-changer for the hundreds of millions of people still living without electricity – most of them in Africa, a continent bursting with renewable potential.

    By 2040, Africa could generate 10 times more electricity than it needs – entirely from renewables.   

    We are already seeing small-scale and off-grid renewable technologies lighting homes, and powering schools and businesses in remote areas.

    And in places like Pakistan for example, people-power is fueling a solar surge – consumers are driving the clean energy boom. 

    Excellencies,
    Dear friends,

    The energy transition is unstoppable.

    But the transition is not yet fast enough or fair enough. 

    OECD countries and China account for 80% of renewable power capacity installed worldwide.

    Brazil and India make up nearly 10%.

    Africa — just 1.5%.

    Meanwhile, the climate crisis is laying waste to lives and livelihoods.

    Climate disasters in small island states have wiped out over 100% of GDP. 

    In the United States, they are pushing insurance premiums through the roof. 

    And the 1.5 degree limit is in unprecedented peril.

    To keep it within reach, we must drastically speed up the reduction of emissions – and the reach of the clean energy transition.

    With manufacturing capacity racing, prices plummeting, and COP30 fast approaching…

    This is our moment of opportunity.

    We must seize it.

    We can do so by taking action in six opportunity areas.  

    First – by using new national climate plans to go all-out on the energy transition. 

    Too often, governments send mixed messages:

    Bold renewable targets on one day.  New fossil fuel subsidies and expansions the next. 

    The next national climate plans, or NDCs, are due in a matter of months.

    They must bring clarity and certainty.

    G20 countries must lead.  They produce 80% of global emissions. 

    The principle of common but differentiated responsibilities must apply but every country must do more.

    Ahead of COP30 in Brazil this November, they must submit new plans.

    I invite leaders to present their new NDCs at an event I will host in September, during General Assembly High-level week. These must:

    Cover all emissions, across the entire economy.

    Align with the 1.5 degree limit.

    Integrate energy, climate and sustainable development priorities into one coherent vision.

    And deliver on global promises:

    To double energy efficiency and triple renewables capacity by 2030.

    And to accelerate the transition away from fossil fuels.

    These plans must be backed by long-term roadmaps for a just transition to net-zero energy systems – in line with global net-zero by 2050.

    And they must be underpinned by policies that show that the clean energy future is not just inevitable – but investable. 

    Policies that create clear regulations and a pipeline of projects.

    That enhance public-private partnerships – unlocking capital and innovation.

    That put a meaningful price on carbon.

    And that end subsidies and international public finance for fossil fuels – as promised. 

    Second, this is our moment of opportunity to build the energy systems of the 21st century. 

    The technology is moving ahead.   

    In just fifteen years, the cost of battery storage systems for electricity grids has dropped over 90%. 

    But here’s the problem. 

    Investments in the right infrastructure are not keeping up. 

    For every dollar invested in renewable power, just 60 cents go to grids and storage. 

    That ratio should be one-to-one. 

    We are building renewable power – but not connecting it fast enough.

    There’s three times more renewable energy waiting to be plugged into grids than was added last year.

    And fossil fuels still dominate the global total energy mix.

    We must act now and invest in the backbone of a clean energy future:

    In modern, flexible and digital grids – including regional integration.

    In a massive scale-up of energy storage.

    In charging networks – to power the electric vehicle revolution.

    On the other hand we need energy efficiency but also  electrification — across buildings, transport and industry.

    This is how we unlock the full promise of renewables – and build energy systems that are clean, secure and fit for the future.

    Third, this is our moment of opportunity to meet the world’s surging energy demand sustainably.

    More people are plugging in.

    More cities are heating up – with soaring demand for cooling.

    And more technologies – from AI to digital finance – are devouring electricity.

    Governments must aim to meet all new electricity demand with renewables.

    AI can boost efficiency, innovation, and resilience in energy systems. And we must take profit in it.

    But it is also energy-hungry.

    A typical AI data-center eats-up as much electricity as 100,000 homes.

    The largest ones will soon use twenty times that. 

    By 2030, data centres could consume as much electricity as all of Japan does today.

    This is not sustainable – unless we make it so.

    And the technology sector must be out front.

    Today I call on every major tech firm to power all data centres with 100% renewables by 2030.

    And – along with other industries – they must use water sustainably in cooling systems.

    The future is being built in the cloud.

    It must be powered by the sun, the wind, and the promise of a better world.  

    Excellencies
    Dear friends,

    Fourth, this is the moment of opportunity for a just energy transition.

    The clean energy that we must deliver  must also deliver equity, dignity and opportunity for all.

    That means governments leading a just transition.

    With support, education and training – for fossil fuel workers, young people, women, Indigenous Peoples and others – so that they can thrive in the new energy economy.

    With stronger social protection – so no one is left behind. 

    And with international cooperation to help low-income countries that are highly-dependent on fossil fuels and struggling to make the shift.

    But justice doesn’t stop here.

    The critical minerals that power the clean energy revolution are often found in countries that have long been exploited.

    And today, we see history repeating. 

    Communities mistreated.

    Rights trampled.

    Environments trashed.

    Nations stuck at the bottom of value chains – while others reap rewards.

    And extractive models digging deeper holes of inequality and harm.

    This must end.

    Developing countries can play a major role in diversifying sources of supply. 

    The UN Panel on Critical Energy Transition Minerals has shown the way forward – with a path grounded in human rights, justice and equity.

    Today, I call on governments, businesses and civil society to work with us to deliver its recommendations.

    Let’s build a future that is not only green – but just.

    Not only fast – but fair. 

    Not only transformative – but inclusive.

    Fifth, we have a moment of opportunity to use trade and investment to supercharge the energy transition.

    Clean energy needs more than ambition.

    It needs access – to technologies, materials, and manufacturing.

    But these are concentrated in just a few countries.

    And global trade is fragmenting.

    Trade policy must support climate policy.

    Countries committed to the new energy era must come together to ensure that trade and investment drive it forward.

    By building diverse, secure, and resilient supply chains.

    By cutting tariffs on clean energy goods.

    By unlocking investment and trade – including through South-South cooperation.

    And by modernizing outdated investment treaties – starting with Investor-State Dispute Settlement provisions.

    Today, fossil fuel interests are weaponizing these provisions to delay the transition, particularly in several developing countries.

    Reform is urgent.

    The race for the new must not be a race for the few.

    It must be a relay – shared, inclusive and resilient.

    Let’s make trade a tool for transformation. 

    Sixth and finally, this is our moment of opportunity to unleash the full force of finance – driving investment to markets with massive potential.

    Despite soaring demand and vast renewables potential — developing countries are being locked out of the energy transition.

    Africa is home to 60% of the world’s best solar resources.  But it received just 2% of global clean energy investment last year.

    Zoom out, and the picture is just as stark. 

    In the last decade, only one in every five clean energy dollars went to emerging and developing countries outside China.

    To keep the 1.5 degree limit alive — and deliver universal energy access – annual clean energy investment in those countries must rise more than fivefold by 2030. 

    That demands bold national policies.  And concrete international action to: 

    Reform the global financial architecture.

    Drastically increase the lending capacity of multilateral development banks — making them bigger, bolder, and better able to leverage massive amounts of private finance at reasonable costs;

    And take effective action on debt relief – and scale up proven tools like debt for climate swaps. 

    Today, developing countries pay outlandish sums for both debt and equity financing – in part because of outdated risk models, bias and broken assumptions that boost the cost of capital.

    Credit ratings agencies and investors must modernize.
     
    We need a new approach to risk that reflects:

    The promise of clean energy.

    The rising cost of climate chaos.

    And the danger of stranded fossil fuel assets.

    I urge parties to unite to solve the complex challenges facing some developing countries in the energy transition – such as early retirement of coal plants. 

    Excellencies,
    Dear friends,

    The fossil fuel age is flailing and failing.

    We are in the dawn of a new energy era.

    An era where cheap, clean, abundant energy powers a world rich in economic opportunity.

    Where nations have the security of energy autonomy.

    And the gift of power is a gift for all.

    That world is within reach.

    But it won’t happen on its own.

    Not fast enough.

    Not fair enough.

    It is up to us. 

    We have the tools to power the future for humanity.   

    Let’s make the most of them. 

    This is our moment of opportunity. 

    And I Thank you.

                                                                                                                                                                                                  ****
    [All-French]

    Excellences,

    Mesdames et Messieurs,

    Chers amis présents avec nous depuis le monde entier,

    L’actualité est dominée par les maux de la planète.

    Par les conflits et le chaos climatique.

    Par la multiplication des souffrances humaines.

    Par des dissensions géopolitiques croissantes.

    Mais au milieu de cette tourmente, autre chose est en train de se jouer.

    Quelque chose qui aura de profondes répercussions.

    Tout au long de l’histoire, l’énergie a présidé aux destinées de l’humanité
    – du feu à l’atome, en passant par la vapeur.

    Aujourd’hui, nous entrons dans une ère nouvelle.

    Les énergies fossiles sont en bout de course.

    Nous sommes à l’aube d’une ère des énergies propres.

    Il suffit d’observer les flux financiers.

    L’année dernière, 2 000 milliards de dollars ont été investis dans les énergies propres : c’est 800 milliards de dollars de plus que pour les énergies fossiles et cela représente une hausse de près de 70 % en 10 ans.

    Et de nouvelles données publiées aujourd’hui par l’Agence internationale pour les énergies renouvelables montrent que l’énergie solaire, qui était quatre fois plus chère que les énergies fossiles il y a peu de temps encore, est aujourd’hui 41 % moins chère.

    L’éolien en mer – 53 % moins cher.

    Et le coût de l’électricité produite par plus de 90 % des nouvelles énergies renouvelables dans le monde est inférieur au coût du nouveau combustible fossile le moins cher.

    C’est un tournant. Non seulement sur le plan énergétique, mais aussi du point de vue des possibilités qui s’offrent à nous.

    Car oui, nous pouvons assainir notre rapport au climat.

    Les énergies solaire et éolienne permettent d’ores et déjà d’économiser au niveau mondial une quantité d’émissions de carbone presque équivalente à l’ensemble des émissions annuelles de l’Union européenne.

    Mais plus fondamentalement, il y va de la sécurité énergétique et de la sécurité des personnes.

    De la gestion avisée de l’économie.

    Des emplois décents, de la santé publique et de la réalisation des objectifs de développement durable.

    Et de la capacité de mettre à la disposition des populations du monde entier une énergie propre et abordable.

    Aujourd’hui, nous publions un rapport spécial avec le soutien d’organismes des Nations Unies et d’organisations partenaires – l’Agence internationale de l’énergie, le Fonds monétaire international, l’Agence internationale pour les énergies renouvelables, l’Organisation de coopération et de développement économiques et la Banque mondiale.

    Ce rapport illustre le chemin parcouru au cours de la décennie écoulée, depuis que l’Accord de Paris a ouvert la voie à une révolution de l’énergie propre. Il montre que nous avons beaucoup à gagner d’une transition rapide et juste à l’échelle mondiale, pour peu que nous prenions les mesures voulues.

    Au niveau mondial, la puissance installée des énergies renouvelables est déjà presque comparable à celle des énergies fossiles.

    Et ce n’est qu’un début.

    L’année dernière, la quasi-totalité de l’énergie fournie par les nouvelles capacités de production était renouvelable.

    Sur tous les continents, on a créé plus de capacités de production d’énergie provenant de sources renouvelables que provenant de combustibles fossiles.

    Les sources d’énergie renouvelable ont généré près d’un tiers de l’électricité mondiale.

    L’énergie propre n’est plus une promesse d’avenir. C’est une réalité.

    Aucun gouvernement, aucune industrie, aucun intérêt particulier ne saurait l’arrêter.

    Bien entendu, le lobby des combustibles fossiles de certaines entreprises s’y emploiera, et nous savons jusqu’où il peut aller.

    Mais – j’en ai désormais la certitude – tous ses efforts sont voués à l’échec, car il est trop tard pour revenir en arrière.

    Il y a trois raisons de poids à cela.

    Premièrement, les marchés.

    Pendant des décennies, l’augmentation des émissions est allée de pair avec celle de la croissance économique.

    Ce n’est plus le cas.

    Dans de nombreuses économies avancées, les émissions plafonnent, mais l’économie continue de croître.

    Rien qu’en 2023, le secteur de l’énergie propre a contribué à hauteur de 10 % à la croissance du PIB mondial.

    En Inde, 5 %. Aux États-Unis, 6 %. En Chine – l’un des leaders de la transition énergétique –, 20 %.

    Et dans l’Union européenne, près de 33 %.

    Et le secteur des énergies propres emploie désormais 35 millions de personnes dans le monde, soit plus que le secteur des énergies fossiles.

    Même le Texas, cœur de l’industrie fossile américaine, est aujourd’hui le premier producteur d’énergies renouvelables aux États-Unis.

    Pourquoi ? Parce que c’est une question de bon sens économique.

    Et ce, en dépit d’une distorsion manifeste du marché au profit des énergies fossiles, qui bénéficient de subventions à la consommation neuf fois plus importantes que les renouvelables au niveau mondial.

    Si l’on ajoute à cela le coût non comptabilisé des dommages subis par les populations et la planète à cause des changements climatiques, la distorsion est encore plus marquée.

    Les pays qui s’accrochent aux énergies fossiles ne protègent pas leur économie, ils la sabotent.

    Ils poussent les coûts à la hausse.

    Ils freinent leur compétitivité.

    Ils se condamnent à avoir des actifs bloqués.

    Et ils passent à côté de la plus grande promesse économique du XXIe siècle.

    Excellences, Chers amis,

    En deuxième lieu, les énergies renouvelables sont promises à un bel avenir, car elles sont au cœur de la sécurité et de la souveraineté énergétiques.

    Disons-le clairement : les combustibles fossiles constituent aujourd’hui la plus grande menace pour la sécurité énergétique.

    Ils laissent les économies et les populations à la merci des variations de prix, des ruptures d’approvisionnement et des turbulences géopolitiques.

    C’est ce que l’on a vu lors de l’invasion de l’Ukraine par la Russie.

    Une guerre en Europe a entraîné une crise énergétique mondiale.

    Les cours du pétrole et du gaz ont grimpé en flèche.

    Et les factures d’électricité et les dépenses alimentaires leur ont emboîté le pas.
     
    En 2022, les ménages ont vu leurs dépenses énergétiques augmenter de 20 % en moyenne dans le monde.

    Les économies modernes et compétitives ont besoin d’un approvisionnement énergétique stable, à un prix abordable. Les énergies renouvelables permettent d’avoir les deux.

    La lumière du soleil n’est pas sujette aux flambées de prix.

    Le vent ne peut être soumis à aucun embargo.

    En leur fournissant de l’électricité, les énergies renouvelables peuvent mettre le pouvoir entre les mains des citoyens et des États.

    Or, presque tous les pays ont suffisamment de soleil, de vent ou d’eau pour devenir autosuffisants sur le plan énergétique.

    Les énergies renouvelables sont la solution pour une véritable sécurité énergétique. Une véritable souveraineté énergétique. Et une véritable protection contre la volatilité associée aux combustibles fossiles.

    Chers amis,

    Troisième et dernière raison pour laquelle les énergies renouvelables sont désormais incontournables : la facilité d’accès.

    On ne peut pas construire une centrale à charbon au fond d’un jardin.

    Mais on peut installer des panneaux solaires dans le village le plus isolé de la planète.

    Le solaire et l’éolien peuvent être déployés plus rapidement, plus facilement, et pour moins cher que les énergies fossiles ne pourront jamais l’être.

    Et bien que le nucléaire soit amené à faire partie du bouquet énergétique mondial, il ne pourra jamais résorber les inégalités d’accès.

    Tout cela change la donne pour les centaines de millions de personnes qui vivent encore sans électricité, pour la plupart en Afrique, continent qui regorge de sources d’énergies renouvelables inexploitées.

    À l’horizon 2040, l’Afrique pourrait avoir une production d’électricité 10 fois supérieure à ses besoins, uniquement grâce au renouvelable.

    Déjà, des dispositifs autonomes de production d’énergie renouvelable à petite échelle servent à éclairer des maisons et à alimenter des écoles et des entreprises dans les zones reculées.

    Et dans des pays comme le Pakistan, le solaire s’impose grâce à l’impulsion des citoyens : ce sont les consommateurs qui sont à l’origine du boom des énergies propres.

    Excellences, Chers amis,

    Rien ne peut arrêter la transition énergétique.

    Mais cette transition n’est encore ni assez rapide ni assez équitable.

    Les pays de l’OCDE et la Chine représentent 80 % de la capacité de production d’énergie renouvelable installée dans le monde.

    Le Brésil et l’Inde, près de 10 %.

    L’Afrique, seulement 1,5 %.

    Pendant ce temps, des vies et des moyens de subsistance sont anéantis par la crise climatique.

    Dans certains petits États insulaires, les catastrophes climatiques ont coûté plus de 100 % du PIB.

    Aux États-Unis, elles font exploser les primes d’assurance.

    Et la limite de 1,5 degré devient plus que jamais un vœu pieux.

    Pour que cet objectif reste à notre portée, nous devons au plus vite réduire les émissions et étendre l’envergure de la transition vers les énergies propres.

    Les capacités de production se multiplient, les prix chutent et la COP30 approche à grands pas.

    Nous nous trouvons donc à un moment décisif.

    Ne le laissons pas passer.

    Le moment est venu d’agir dans six domaines porteurs.

    Premièrement, nous devons saisir l’occasion de faire des nouveaux plans climatiques nationaux le moteur d’une transition énergétique irréversible.

    Trop souvent, les gouvernements envoient des messages contradictoires :

    Un jour, des objectifs ambitieux en matière d’énergies renouvelables. Le lendemain, de nouvelles subventions aux combustibles fossiles et des mesures qui favorisent leur expansion.

    Les prochains plans d’action nationaux sur le climat – également connus sous le nom de contributions déterminées au niveau national – doivent être présentés dans quelques mois.

    Ils devront être source de clarté et de certitude.

    Les pays du G20 doivent être à la manœuvre. Ils sont responsables de 80 % des émissions mondiales.

    Le principe des responsabilités communes mais différenciées doit être appliqué, mais tous les pays doivent redoubler d’effort.

    En prévision de la COP30, qui se tiendra au Brésil en novembre, ils doivent présenter de nouveaux plans.

    J’invite les dirigeants à présenter leurs nouvelles contributions déterminées au niveau national lors d’une manifestation que j’organiserai en septembre, durant la semaine de haut niveau de l’Assemblée générale. Ces contributions devront :

    Couvrir toutes les émissions, dans tous les secteurs de l’économie.

    Ne pas dépasser la limite de 1,5 degré.

    Se fonder sur une approche cohérente intégrant les priorités liées à l’énergie, au climat et au développement durable.

    Et tenir les promesses qui ont été faites au niveau mondial, à savoir :

    Multiplier par deux l’efficacité énergétique et par trois les capacités en énergies renouvelables d’ici à 2030.

    Et accélérer l’abandon progressif des combustibles fossiles.

    Ces plans devront être assortis de feuilles de route à long terme permettant d’assurer une transition équitable vers des systèmes énergétiques à zéro émission nette, conformément à l’objectif fixé pour 2050.

    Et ils doivent s’accompagner de politiques qui montrent qu’un avenir alimenté par des énergies propres est inéluctable et mérite d’être soutenu par des investissements.

    Des politiques qui instaurent un cadre réglementaire clair et favorisent l’émergence d’un vivier de projets.

    Qui renforcent les partenariats public-privé en mobilisant des capitaux et en stimulant l’innovation.

    Qui assurent la tarification effective du carbone.

    Et qui marquent la fin des subventions et des financements publics internationaux destinés aux combustibles fossiles – comme promis.

    Deuxièmement, nous devons saisir l’occasion de bâtir les systèmes énergétiques du XXIe siècle.

    La technologie progresse.

    En l’espace de quinze ans seulement, le coût des systèmes de stockage par batterie pour réseaux électriques a chuté de plus de 90 %.

    Mais il y a un problème.

    Les investissements dans les infrastructures nécessaires ne suivent pas.

    Pour chaque dollar investi dans les énergies renouvelables, 0,6 dollar seulement est consacré aux réseaux et au stockage.

    Le rapport devrait être d’un pour un.

    Nous produisons de l’énergie renouvelable, mais nous ne l’intégrons pas assez vite aux réseaux.

    La quantité d’énergie renouvelable en attente de raccordement est trois fois supérieure à celle effectivement mise en service l’an dernier.

    Et le bouquet énergétique mondial reste dominé par les combustibles fossiles.

    Nous devons agir dès maintenant et investir dans l’architecture d’un avenir placé sous le signe des énergies propres.

    Dans des réseaux modernes, souples et informatisés – ainsi que dans l’intégration régionale.

    Dans une augmentation massive de la capacité de stockage d’énergie.

    Dans les réseaux de recharge – pour alimenter la révolution des véhicules électriques.

    D’un autre côté, nous avons besoin l’efficacité énergétique et l’électrification dans les secteurs du bâtiment, des transports et de l’industrie.

    C’est ainsi que nous tirerons pleinement parti des possibilités offertes par les énergies renouvelables et que nous bâtirons des systèmes propres, sûrs et adaptés au monde de demain.

    Troisièmement, nous devons saisir l’occasion de répondre durablement à l’augmentation de la demande énergétique mondiale.

    De plus en plus de personnes sont raccordées aux réseaux.

    De plus en plus de villes se réchauffent, ce qui entraîne une hausse de la demande de climatisation.

    Et de plus en plus de technologies – de l’intelligence artificielle à la finance numérique – consomment une quantité d’électricité colossale.

    Pour répondre à l’augmentation de la demande d’électricité, les gouvernements doivent privilégier le renouvelable.

    L’intelligence artificielle peut rendre les systèmes énergétiques plus efficaces, plus innovants et plus résilients.

    Mais elle est aussi extrêmement énergivore.

    Un centre de données IA typique engloutit autant d’électricité que 100 000 foyers.

    Bientôt, les plus grands centres consommeront 20 fois plus.

    D’ici à 2030, ils pourraient utiliser autant d’électricité que l’ensemble de la population japonaise actuelle.

    Cette situation n’est pas viable – et c’est à nous d’y remédier.

    Le secteur de la technologie doit montrer la voie.

    Aujourd’hui, je demande à toutes les grandes entreprises technologiques de faire en sorte que tous leurs centres de données fonctionnent aux énergies renouvelables d’ici à 2030.

    Elles doivent également veiller – tout comme d’autres secteurs – à utiliser durablement l’eau nécessaire aux systèmes de refroidissement.

    L’avenir se construit dans le nuage.

    Il doit être alimenté par le soleil, le vent et la promesse d’un monde meilleur.

    Excellences, Chers amis,

    Quatrièmement, nous devons saisir l’occasion d’assurer une transition énergétique juste.

    L’ère de l’énergie propre doit garantir l’équité et la dignité et ouvrir de nouvelles perspectives pour l’humanité tout entière.

    Cela signifie que les gouvernements doivent prendre les rênes d’une transition juste.

    En assurant l’accompagnement, l’éducation et la formation des personnes qui travaillent pour l’industrie fossile, des jeunes, des femmes, des peuples autochtones et d’autres, afin qu’ils puissent prospérer dans une économie reposant sur les énergies nouvelles.

    En assurant une meilleure protection sociale pour que personne ne soit laissé pour compte.

    Et en renforçant la coopération internationale en vue d’aider les pays à faible revenu qui sont largement tributaires des combustibles fossiles et pour lesquels la transition est difficile.

    Mais la justice ne se limite pas à cela.

    Les minéraux critiques qui alimentent la révolution des énergies propres se trouvent souvent dans des pays qui ont longtemps été exploités.

    Aujourd’hui, nous voyons l’histoire se répéter.

    Des populations malmenées.

    Leurs droits bafoués.

    Leur environnement saccagé.

    Des nations reléguées aux échelons inférieurs des chaînes de valeur, tandis que d’autres en accaparent le produit.

    Et des modèles d’extraction qui creusent encore les inégalités et amplifient les dégradations.

    Il faut que cela cesse.

    Les pays en développement peuvent jouer un rôle majeur dans la diversification des sources d’approvisionnement.

    Le Groupe chargé de la question des minéraux critiques pour la transition énergétique a défini une trajectoire ancrée dans le respect des droits humains, de la justice et de l’équité.

    Aujourd’hui, je demande aux gouvernements, aux entreprises et à la société civile de se joindre à nous pour mettre en œuvre ses recommandations.

    Bâtissons un avenir qui soit respectueux de l’environnement et fondé sur l’équité.

    Qui advienne rapidement et soit guidé par le principe de justice.

    Qui soit porteur de transformation et favorise l’inclusion.

    Cinquièmement, nous devons saisir l’occasion de mettre le commerce et l’investissement au service de l’accélération de la transition énergétique.

    L’ambition seule ne suffira pas à assurer le passage à une énergie propre.

    Il faut aussi des technologies, des matériaux et des minéraux critiques.

    Mais ces éléments sont concentrés dans quelques pays seulement.

    Et le commerce mondial se fragmente.

    La politique commerciale doit soutenir l’action climatique.

    Les pays mobilisés en faveur d’une nouvelle ère énergétique doivent unir leurs forces pour lui donner corps grâce au commerce et à l’investissement.

    En diversifiant les chaînes d’approvisionnement et en les rendant plus sûres et plus résilientes.

    En abaissant les droits de douane sur les biens nécessaires à la production d’énergie propre.

    En débloquant les investissements et en renforçant les échanges, notamment dans le cadre de la coopération Sud-Sud.

    Et en actualisant des traités d’investissement dépassés, à commencer par les dispositions relatives au règlement des différends entre investisseurs et États.

    À l’heure actuelle, le secteur des combustibles fossiles instrumentalise ces dispositions pour retarder la transition, en particulier dans plusieurs des pays en développement.

    Une réforme s’impose d’urgence.

    La course à l’innovation ne doit pas être réservée à une minorité privilégiée.

    Il doit s’agir d’une course de relais – collective, inclusive et source de résilience.

    Faisons du commerce un outil de transformation.

    Sixièmement, nous devons saisir l’occasion d’exploiter toute la puissance de la finance en dirigeant les investissements vers des marchés à très fort potentiel.

    Malgré une demande en forte hausse et un potentiel indéniable en matière d’énergies renouvelables, les pays en développement sont exclus de la transition énergétique.

    L’Afrique abrite 60 % des meilleures ressources solaires au monde. Mais elle n’a comptabilisé que 2 % des investissements mondiaux dans les énergies propres au cours de l’année écoulée.

    En élargissant le cadre, on obtient un tableau tout aussi alarmant.

    Au cours des dix dernières années, seul un dollar sur cinq consacré à l’énergie propre est allé à des pays émergents ou en développement autres que la Chine.

    Si nous voulons contenir le réchauffement à 1,5 degré et assurer un accès universel à l’énergie, les investissements annuels dans les énergies propres doivent être multipliés par plus de cinq dans ces pays d’ici à 2030.

    Cela exige de prendre des mesures audacieuses à l’échelon national, mais aussi de mener une action concrète au niveau mondial pour :

    Réformer l’architecture financière internationale.

    Renforcer considérablement la capacité de prêt des banques multilatérales de développement, afin qu’elles gagnent en envergure et en audace et soient plus à même de canaliser des flux massifs de capitaux privés à un coût raisonnable.

    Et prendre des mesures efficaces en matière d’allégement de la dette, notamment en intensifiant le recours à des outils éprouvés tels que la conversion de dettes en mesures en faveur du climat.

    À l’heure actuelle, les pays en développement paient des sommes exorbitantes pour accéder à des financements par emprunt et par prise de participation, en partie à cause de modèles de risque obsolètes, de préjugés et d’hypothèses erronées qui accroissent considérablement le coût du capital.

    Les agences de notation et les investisseurs doivent moderniser leurs pratiques.
     
    Il nous faut une nouvelle approche du risque qui tienne compte :

    Du potentiel des énergies propres.

    Du coût croissant du chaos climatique.

    Et du danger associé aux actifs fossiles échoués.

    Je demande instamment aux parties de s’atteler ensemble à régler les problèmes complexes auxquels se heurtent certains pays en développement dans le cadre de la transition énergétique, notamment la mise hors service anticipée des centrales à charbon.

    Excellences, chers amis,

    L’ère des combustibles fossiles est à bout de souffle et en bout de course.

    Nous sommes à l’aube d’une nouvelle ère énergétique.

    Une ère dans laquelle une énergie abondante, propre et peu coûteuse viendra alimenter un monde riche en perspectives économiques.

    Où la sécurité énergétique des nations sera assurée.

    Et où l’énergie sera un bien universel.

    Ce monde est à notre portée.

    Mais cela ne se fera pas tout seul.

    Pas assez rapidement.

    Pas assez équitablement.

    C’est à nous de prendre les choses en main.

    Nous disposons des outils nécessaires pour doter l’humanité de l’énergie de demain.

    Utilisons-les à bon escient.

    Nous ne devons pas laisser passer ce moment.

    Je vous remercie.
     

    MIL OSI United Nations News

  • MIL-OSI USA: ICE and FBI arrest Cincinnati man for terroristic threats against ICE agents

    Source: US Immigration and Customs Enforcement

    CINCINNATI — U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and the FBI arrested a Cincinnati man July 19 after he allegedly made multiple threats online to shoot and kill ICE officers.

    Anthony Marcus Kelly, 38, faces federal charges including threatening to assault, kidnap or murder a United States official, as well as transmitting communications containing threats to kidnap or injure another person.

    Law enforcement became aware of a social media user going by the name of “Slab” after he allegedly made multiple social media posts calling for the killing of ICE officers and detailing his acquisition of firearms to carry out that threat.

    After an investigation, the user making these posts was identified as Kelly, who lives in the Cincinnati area.

    In one of his alleged posts, Kelly wrote “Why even bother with these damn courts anymore. #Gestapedos don’t deserve anything but the smoke coming for them anyway. #RevolutionIsTheSolution #DestroyICE they’re rabid dogs that need to be put down. Including #KristiNoem #DogmeatWalking.”

    In another, he wrote, “You come here for me, you’re getting shot. And I’m not looking to disable […] I’m shooting for the kill. I won’t give a **** about your names, who you are, or anything else”.

    “Let me be crystal clear: Threatening to kill a federal officer is not protest — it’s terrorism,” said acting ICE Director Todd M. Lyons. “Anthony Kelly’s violent threats, while disgusting and completely unhinged, are a symptom of a larger problem: Politicians are trying to turn our law enforcement officials into targets by scaring their constituents and whipping them into a frenzy in a fact-free vacuum. This is what happens when anti-ICE activists don’t realize or care that we’re out there arresting rapists, murderers and child molesters who are in this country illegally. Enough is enough. Anyone who targets ICE personnel will be met with swift, unrelenting justice.”

    “Calling for violence against federal law enforcement is not protected by the First Amendment,” said HSI Detroit acting Special Agent in Charge Jared Murphey. “At great personal risk, ICE agents and officers faithfully enforce laws passed by our representatives in Congress. If members of the public disagree with our nation’s laws, they need to write their representatives, not threaten violence against those charged with carrying out the law.”

    “Making violent threats against federal law enforcement officers will never be tolerated,” said FBI Cincinnati Special Agent in Charge Elena Iatarola. “Advocating for violence is not only wrong; it is also against the law and has serious consequences.”

    Kelly remains in federal custody pending further court proceedings. 

    All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News

  • MIL-OSI USA: IAM Union Member Steps Up to Assist Texas Flood Emergency Workers

    Source: US GOIAM Union

    Retired Southwest Airlines employee and current IAM Employee Assistance Program (EAP) instructor with District 142, Mack “Big Mack” McKinney, recounts how his union training in EAP and the Critical Incident Response Team (CIRT) equipped him to assist recent flood victims and first responders in Kerrville, Texas.

    Watch the video here.

    McKinney emphasized the union’s broader role in his community support, extending beyond just its members. His account highlights the practical application of the IAM Union EAP training, providing stress management support to those impacted by the horrific disaster. 

    McKinney’s 30 years of IAM service and his long-standing commitment to the IAM Union show as he continues helping members in the community wherever possible.

    The IAM has a 24/7 EAP National helpline at 301-335-0735. All inquiries and services are confidential

    The post IAM Union Member Steps Up to Assist Texas Flood Emergency Workers appeared first on IAM Union.

    MIL OSI USA News

  • MIL-OSI Security: Gary Man Sentenced to 480 Months in Prison

    Source: US FBI

    HAMMOND- Yesterday, Taquan Clarke, age 31, of Gary, Indiana, was sentenced by United States District Court Judge Philip P. Simon after a jury found him guilty of conspiring to distribute and possess with intent to distribute cocaine and using a firearm to commit murder, following a 6-day jury trial, announced Acting United States Attorney M. Scott Proctor.

    Clarke was sentenced to 480 months in prison for using a firearm to commit murder.  He was also sentenced to 240 months in prison for conspiring to distribute and possess with intent to distribute cocaine.  He was also sentenced to 3 years of supervised release.  Both sentences are to run concurrently. 

    According to documents in the case, between June 2016 and February 2018, Taquan Clarke and numerous others conspired to possess and possess with intent to distribute cocaine.  On July 28, 2017, Clarke was involved in a plot to rob an individual of cocaine and money.  During this attempted robbery, Clarke shot the victim, K.H., in the head, resulting in K.H.’s death. 

    “Taquan Clarke cut short the life of another man,” said Acting U.S. Attorney Proctor.  “Thanks to the coordinated efforts of law enforcement, he has been brought to justice for that act.  It is an honor to serve with the dedicated agents, officers, and prosecutors who made that happen.”

    This case was investigated by the Federal Bureau of Investigation Gang Response Investigative Team, the Gary Police Department, and the Lake County Sheriff’s Department.  The trial was handled by Assistant United States Attorneys David J. Nozick and Caitlin M. Padula.

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

    MIL Security OSI

  • MIL-OSI: ALL4 Mining Targets Mass Adoption with Risk-Free Entry and Transparent Mining Returns

    Source: GlobeNewswire (MIL-OSI)

    Jacksonville, Florida, July 22, 2025 (GLOBE NEWSWIRE) — Revolutionizing Digital Asset Mining for the Modern Investor

    Cryptocurrency mining has long been associated with complex setups, massive electricity consumption, and heavy capital requirements. However, ALL4 Mining is changing this outdated narrative by introducing a modern, streamlined solution that empowers both new and seasoned investors to earn consistent daily profits through cloud-based mining. Leveraging clean energy and advanced cloud computing, the platform is making digital mining more sustainable, affordable, and accessible to everyone.

    An Innovative Mining Model for Smarter Investments

    At its core, ALL4 Mining offers an intelligent system that removes the traditional burdens of crypto mining. Users no longer need to worry about purchasing costly hardware, maintaining devices, or paying high electricity bills. Instead, they simply rent computing power via flexible contracts and begin mining cryptocurrencies such as Bitcoin and Dogecoin with ease.
    This model suits a variety of users—from individuals entering the space to large-scale investors seeking to optimize returns without the overhead.

    How ALL4 Mining Works Behind the Scenes

    ALL4 Mining operates through a distributed cloud mining infrastructure. Instead of requiring physical equipment on the user’s end, the platform routes mining tasks to high-performance, secure data centers powered by renewable energy. Here’s a breakdown of how the system operates:

    • Computing Power Rental: Users select a contract based on their budget and profit expectations. The platform allocates corresponding computing resources automatically.
    • Real-Time Tracking: Through an intuitive dashboard, users can monitor their mining progress, daily income, and contract performance in real time.
    • Automated Profit Distribution: Profits are calculated daily and distributed based on the proportion of the user’s investment, ensuring complete transparency and fairness.

    This seamless and automated structure allows users to focus on their investment strategies while the system handles the technical workload.

    Key Benefits of Choosing ALL4 Mining

    ✅ Low Entry Barrier

    Unlike traditional mining operations that require significant capital upfront, ALL4 Mining lowers the threshold significantly. Users can start mining with minimal investment, making it an ideal platform for beginners.

    ✅ Clean, Sustainable Energy Use

    ALL4 Mining relies on green energy sources to power its data centers. This commitment to sustainability not only reduces operational costs but also supports global efforts to minimize carbon emissions in blockchain technology.

    ✅ Flexible Contracts

    The platform offers a variety of computing power packages with different durations and profitability rates. Whether you’re aiming for short-term gains or long-term passive income, there’s a plan tailored to your goals.

    ✅ Enterprise-Grade Security

    The platform employs SSL encryption, firewalls, and real-time risk detection to ensure your assets and personal data remain protected at all times.

    ✅ Dedicated Customer Support

    A knowledgeable support team is available 24/7 to assist users with technical issues, account inquiries, or contract questions, ensuring a smooth experience for all users.

    Who Can Benefit from ALL4 Mining?

    ALL4 Mining is built to serve diverse segments of the crypto community:

    • Individual Investors: Those with limited knowledge or no technical background can still mine top cryptocurrencies using an easy-to-navigate platform.
    • Small Enterprises: Startups and small businesses can generate additional income streams by participating in cloud mining without investing in hardware.
    • Large Mining Pools: Established investors and institutions can significantly scale their operations by leveraging ALL4 Mining’s powerful cloud infrastructure.

    How to Start Earning with ALL4 Mining

    Getting started on ALL4 Mining is fast and simple:

    1. Register an Account: New users receive a $15 welcome bonus immediately upon sign-up.
    2. Daily Check-In Contract: Activate the free daily contract and earn $0.6 per day just by checking in.
    3. Choose a Paid Contract: Recharge your account and select from a variety of flexible packages designed to meet different financial goals.

    Popular Contract Packages Available

    ALL4 Mining offers several attractive contract options. These are tailored to various investor levels:

    BTC basic computing power: investment amount: $100, contract period: 2 days, daily income of $4.0, expiration income: $100 + $8

    LTC [classic computing power contract]: investment amount: $600, contract period: 6 days, daily income of $7.2, expiration income: $600 + $43.2

    BTC [classic computing power contract]: investment amount: $3,000, contract period: 20 days, daily income of $42, expiration income: $3,000 + $840

    DOGE [classic computing power contract]: investment amount: $5,000, contract period: 31 days, daily income of $74, expiration income: $5,000 + $2,294

    BTC [advanced computing power contract]: investment amount: $10,000, contract period: 40 days, daily income of $170, expiration income: $10,000 + $680

    BTC [advanced computing power contract]: investment amount: 50,000 USD, contract period: 48 days, daily income: USD 930, maturity income: USD 50,000 + USD 44,640

    BTC [Super Computing Power Contract]: Investment amount: USD 150,000, contract period: 45 days, daily income: USD 3,000, maturity income: USD 150,000 + USD 135,000

    Large-scale investors can explore premium packages, such as $300,000 contracts, which deliver over $288,000 in profits in just 40 days.

    Each package allows users to earn passive income with zero operational burdens or hidden fees.

    How to Earn $7,050 Daily with ALL4 Mining

    To understand the platform’s profit potential, consider this example:
    A user invests in a BTC Super Computing Contract with a $300,000 value. With a daily return rate of 2.35%, the user earns $7,050 per day.
    In 40 days:

    • Daily Return: $7,050 × 40 = $282,000
    • Total Return: $300,000 + $282,000 = $582,000

    This hands-free earning model demonstrates how ALL4 Mining can generate significant revenue for serious investors.

    Final Thoughts: A Future-Proof Investment Solution

    ALL4 Mining is not just another crypto mining platform—it’s a forward-thinking solution crafted for the evolving world of digital finance. Its combination of renewable energy, cloud computing, flexible contracts, and passive income potential makes it one of the most compelling choices for modern investors.
    Whether you’re looking to supplement your income, diversify your portfolio, or dive into crypto for the first time, ALL4 Mining offers a reliable, sustainable, and highly profitable gateway into the mining world.

    Get started today at: https://all4mining.com/
    Download the app and take control of your financial future.

    Attachment

    The MIL Network

  • MIL-OSI United Nations: Gaza: UN staff now fainting from hunger, exhaustion; WHO worker detained

    Source: United Nations MIL OSI

    Doctors, nurses, journalists, humanitarians, among them UNRWA staff, are hungryfainting due to hunger and exhaustion while performing their duties,” said Juliette Touma, Director of Communications with the UN agency for Palestine refugees, UNRWA. 

    Speaking from Amman, she stressed that seeking food “has become as deadly as the bombardments.”

    The development comes as the UN human rights office, OHCHR, announced on Tuesday that more than 1,000 Palestinians have now been killed by the Israeli military while trying to get food in Gaza since the so-called Gaza Humanitarian Foundation (GHF) started operating on 27 May. 

    “As of 21 July, we have recorded 1,054 people killed in Gaza while trying to get food,” said OHCHR spokesperson Thameen Al-Kheetan; “766 of them were killed in the vicinity of GHF sites and 288 near UN and other humanitarian organizations’ aid convoys.” 

    Mr. Al-Kheetan noted that the finding came from “multiple reliable sources on the ground, including medical teams, humanitarian and human rights organizations. It is still being verified in line with our strict methodology.”

    The Foundation’s hubs are supported by the US and Israeli authorities and started operating in southern Gaza on 27 May, bypassing the UN and other established NGOs. 

    Aid relief is not a job for mercenaries

    “The so-called GHF distribution scheme is a sadistic death-trap,” UNRWA’s Ms. Touma said. “Snipers open fire randomly on crowds, as if they’re given a licence to kill.” 

    Quoting a statement by UNRWA head Philippe Lazzarini, Ms. Touma called the scheme a “massive hunt of people in total impunity.”

    “This cannot be our new norm. Humanitarian assistance is not the job of mercenaries,” she added.

    The UNRWA spokesperson insisted that the UN and its humanitarian partners have the expertise, experience and available resources to provide safe, dignified and at-scale assistance. 

    “We have proven it time and again during the last ceasefire,” she said.

    Living conditions in the Strip have reached a new low as prices for basic commodities have increased by around 4,000 per cent. For Gaza’s inhabitants who have lost their homes and been displaced multiple times, they have no income and find themselves completely deprived of essentials.

    A child waits for food in Gaza.

    $200 for a bag of flour

    Ms. Touma highlighted the testimony of a colleague on the ground who had to walk for hours to buy a bag of lentils and some flour, paying almost $200 for it. 

    On Monday, the UN World Food Programme (WFP) said that a quarter of Gaza’s population faces famine-like conditions. Almost 100,000 women and children are suffering from severe acute malnutrition and need treatment as soon as possible.

    Vital everyday items such as diapers are scarce and costly, at about $3 each. Mothers have resorted to using plastic bags instead, while one father “said that he had to cut one of his last shirts to give his daughter sanitary pads,” Ms. Touma said.

    “We at UNRWA have stocks of hygiene supplies, including diapers for babies and for adults waiting outside the gates of Gaza,” Ms. Touma stressed, insisting that the agency has 6,000 trucks loaded with food, medicines and hygiene supplies waiting in Egypt and in Jordan to be allowed into the enclave.

    Urgent ceasefire call

    She reiterated the UN’s calls for “a deal that would bring a ceasefire, that would release the hostages, that would bring in a standard flow of humanitarian supplies into Gaza under the management of the United Nations, including UNRWA.”

    Humanitarian operations in the enclave are being pushed into an “ever-shrinking space”, said World Health Organization (WHO) spokesperson Tarik Jašarević.

    Briefing journalists in Geneva, he condemned three attacks on Monday on a building housing WHO staff in Deir Al-Balah in central Gaza, as well as the “mistreatment of those sheltering there and the destruction of its main warehouse.”

    “Staff and their families, including children, were exposed to grave danger and traumatized after airstrikes caused a fire and significant damage,” Mr. Jašarević said, adding that Israeli military entered the premises, “forcing women and children to evacuate on foot” towards the coastal shelter of Al Mawasi amid active conflict. 

    Screened at gunpoint

    The WHO spokesperson said that staff and family members were “handcuffed, stripped, interrogated on the spot and screened at gunpoint.” Two staff and two family members were detained and while three were later released, one WHO staff member remains in detention for reasons unknown to the organization.

    Mr. Jašarević called for the release of the detained staff member and insisted that “no one should be held without charges and without due process.”

    The latest evacuation order for the area has impacted several WHO premises and compromised its presence on the ground, “crippling efforts to sustain a collapsing health system,” Mr. Jašarević added, and “pushing survival further out of reach for more than two million people.” 

    The Israeli military operation in Deir Al-Balah on Monday also caused an explosion and fire inside WHO’s main warehouse, which is located within the evacuation zone in the central Gazan city – “part of a pattern of systematic destruction of health facilities,” the agency’s spokesperson said.

    According to Gaza’s health authorities, since the start of the war in October 2023 some 1,500 health workers have been killed in the Strip. Some 94 per cent of all health facilities have been damaged and half of Gaza’s hospitals are “not functional at all,” Mr. Jašarević said. 

    “The chance to prevent loss of lives and reverse immense damage to the health system slips further out of reach every day,” he stressed.

    Visa denials 

    Spotlighting further challenges to the humanitarian operation in Gaza, the WHO spokesperson pointed to an increase in the denial of visas by the Israeli authorities for emergency medical teams seeking to enter the Strip since the breakdown of the latest ceasefire between Israel and Hamas on 18 March. 

    He said that 58 international staff for the emergency medical teams, including surgeons and critical medical specialists, have been denied access.

    UNRWA’s Ms. Touma highlighted the fact that ever since the agency’s Commissioner-General was denied entry to Gaza in March 2024, he has not been allowed back into the Strip. He has also not received a visa from Israel to enter the occupied West Bank, including East Jerusalem, for more than a year. 

    The UNRWA spokesperson also deplored the lack of access for international media to the enclave. 

    “It certainly is time, if not long overdue, for international media to go into Gaza precisely to look into the facts and to help with reporting first-hand information on the horrors that people in Gaza are living through,” she said. 

    MIL OSI United Nations News

  • MIL-OSI Security: Hermandad de Pistoleros Latinos gang member sentenced to 100 months for heroin trafficking

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

    LAREDO, Texas – A 33-year-old Laredo man has been sentenced for possession with the intent to distribute 100 grams or more of heroin, announced U.S. Attorney Nicholas J. Ganjei.

    Raul Garcia Jr. aka Rule pleaded guilty Aug. 6. 2024.

    U.S. District Judge Keith P. Ellison has now ordered Garcia to serve 100 months in federal prison to be immediately followed by four years of supervised release. At the hearing, the court heard about Garcia’s numerous prior convictions and contacts with law enforcement. In handing down the sentence, the court noted this was a serious crime.

    The investigation began in January 2024 when law enforcement learned Garcia may have been selling fentanyl in the Laredo area. Over the next three months, authorities discovered Garcia was selling narcotics out of his home.

    A search warrant in March of that year resulted in the discovery of heroin packaged for street sale. A month later, law enforcement obtained a second search warrant and again found heroin. Similar to previously found drugs, the heroin was also packaged for street sale.

    The searches also revealed methamphetamine, crack cocaine, fentanyl, marijuana, money and stolen firearm.

    At the time of his plea, Garcia admitted to possessing the drugs located and seized throughout the investigation.

    He will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

    The Drug Enforcement Administration, Bureau of Alcohol, Tobacco, Firearms and Explosives and the Laredo Police Department’s Narcotics Division conducted the investigation with assistance from Immigration and Customs Enforcement – Homeland Security Investigations and Border Patrol. Assistant U.S. Attorneys Steven Chamberlin and Leslie Cortez prosecuted the case.

    This case is being prosecuted as part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF is the largest anti-crime task force in the country. OCDETF identifies, disrupts and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found on the Department of Justice’s OCDETF webpage.

    MIL Security OSI

  • MIL-OSI: HomeTrust Bancshares, Inc. Announces Financial Results for the Second Quarter of the Year Ending December 31, 2025 and Declaration of a Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    ASHEVILLE, N.C., July 22, 2025 (GLOBE NEWSWIRE) — HomeTrust Bancshares, Inc. (NYSE: HTB) (“Company”), the holding company of HomeTrust Bank (“Bank”), today announced preliminary net income for the second quarter of the year ending December 31, 2025 and approval of its quarterly cash dividend.

    For the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025:

    • net income was $17.2 million compared to $14.5 million;
    • diluted earnings per share (“EPS”) were $1.00 compared to $0.84;
    • annualized return on assets (“ROA”) was 1.58% compared to 1.33%;
    • annualized return on equity (“ROE”) was 11.97% compared to 10.52%;
    • net interest margin was 4.32% compared to 4.18%;
    • provision for credit losses was $1.3 million compared to $1.5 million;
    • gain on the sale of our two Knoxville, Tennessee branches was $1.4 million compared to $0;
    • quarterly cash dividends continued at $0.12 per share totaling $2.1 million for both periods; and
    • 78,412 shares of Company common stock were repurchased during the current quarter at an average price of $35.74 compared to 14,800 shares repurchased at an average price of $33.64 in the prior quarter.

    For the six months ended June 30, 2025 compared to the six months ended June 30, 2024:

    • net income was $31.7 million compared to $27.5 million;
    • diluted EPS were $1.84 compared to $1.61;
    • annualized ROA was 1.46% compared to 1.25%;
    • annualized ROE was 11.26% compared to 10.73%;
    • net interest margin was 4.25% compared to 4.08%;
    • provision for credit losses was $2.8 million compared to $5.4 million;
    • tax-free death benefit proceeds from life insurance were $0 compared to $1.1 million;
    • cash dividends of $0.24 per share totaling $4.1 million compared to $0.22 per share totaling $3.7 million; and
    • 93,212 shares of Company common stock were repurchased during the six months at an average price of $35.41 compared to 23,483 shares repurchased at an average price of $27.48 in the same period last year.

    The Company also announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per common share payable on August 28, 2025 to shareholders of record as of the close of business on August 14, 2025.

    “Given the current economic uncertainty, we are pleased to report another quarter of strong financial results,” said C. Hunter Westbrook, President and Chief Executive Officer. “These results reflect HTB’s commitment to remain nimble and be prudent balance sheet managers. Our earnings story over recent quarters has primarily been driven by our top quartile net interest margin, which expanded to 4.32% this quarter, and our ability to limit growth in our expense base.

    “HTB previously set a goal to be a consistently high-performing regional community bank that is a regionally and nationally recognized ‘Best Place to Work.’ As a result of this strong financial performance, for the second year in a row, the Company was named one of Forbes’ America’s Best Banks for 2025 and recognized as a Top 50 Community Bank in the 2024 S&P Global Market Intelligence annual rankings, awards based on the overall financial performance and strength of financial institutions. The Company was also recently included in the coveted 2025 KBW Bank Honor Roll, a distinction granted to only 5% of eligible banks based on their best-in-class earnings growth over the past ten years. Over the last year, HTB has been recognized as a best place to work in all five states we serve as well as nationally by Newsweek and American Banker.

    “Lastly, during the quarter we completed the previously announced sale of our two Knoxville, Tennessee branches. This transaction reflects our efforts to tighten our geographic footprint, improve our branch efficiencies, and allow us to better allocate capital to support long-term growth in other core markets.”

    WEBSITE: WWW.HTB.COM

    Comparison of Results of Operations for the Three Months Ended June 30, 2025 and March 31, 2025
    Net Income.  Net income totaled $17.2 million, or $1.00 per diluted share, for the three months ended June 30, 2025 compared to $14.5 million, or $0.84 per diluted share, for the three months ended March 31, 2025, an increase of $2.7 million, or 18.4%. Results for the three months ended June 30, 2025 benefited from a $1.3 million increase in net interest income and a $2.1 million increase in noninterest income due to a $1.4 million gain on the sale of two branch locations. Details of the changes in the various components of net income are further discussed below.

    Net Interest Income.  The following table presents the distribution of average assets, liabilities and equity, as well as interest income earned on average interest-earning assets and interest expense paid on average interest-bearing liabilities. All average balances are daily average balances. Nonaccruing loans have been included in the table as loans carrying a zero yield.

      Three Months Ended
      June 30, 2025   March 31, 2025
    (Dollars in thousands) Average
    Balance
    Outstanding
      Interest
    Earned /
    Paid
      Yield /
    Rate
      Average
    Balance
    Outstanding
      Interest
    Earned /
    Paid
      Yield /
    Rate
    Assets                      
    Interest-earning assets                      
    Loans receivable(1) $ 3,804,502     $ 60,440   6.37 %   $ 3,802,003     $ 58,613   6.25 %
    Debt securities available for sale   149,611       1,658   4.45       152,659       1,787   4.75  
    Other interest-earning assets(2)   149,175       1,543   4.15       206,242       3,235   6.36  
    Total interest-earning assets   4,103,288       63,641   6.22       4,160,904       63,635   6.20  
    Other assets   263,603               266,141          
    Total assets $ 4,366,891             $ 4,427,045          
    Liabilities and equity                      
    Interest-bearing liabilities                      
    Interest-bearing checking accounts $ 563,817     $ 1,251   0.89 %   $ 573,316     $ 1,324   0.94 %
    Money market accounts   1,329,973       9,004   2.72       1,345,575       9,177   2.77  
    Savings accounts   182,340       37   0.08       183,354       38   0.08  
    Certificate accounts   868,321       8,564   3.96       951,715       9,824   4.19  
    Total interest-bearing deposits   2,944,451       18,856   2.57       3,053,960       20,363   2.70  
    Junior subordinated debt   10,154       206   8.14       10,129       205   8.21  
    Borrowings   31,154       350   4.51       12,301       160   5.28  
    Total interest-bearing liabilities   2,985,759       19,412   2.61       3,076,390       20,728   2.73  
    Noninterest-bearing deposits   744,585               719,522          
    Other liabilities   59,973               70,821          
    Total liabilities   3,790,317               3,866,733          
    Stockholders’ equity   576,574               560,312          
    Total liabilities and stockholders’ equity $ 4,366,891             $ 4,427,045          
    Net earning assets $ 1,117,529             $ 1,084,514          
    Average interest-earning assets to average interest-bearing liabilities   137.43 %             135.25 %        
    Non-tax-equivalent                      
    Net interest income     $ 44,229           $ 42,907    
    Interest rate spread         3.61 %           3.47 %
    Net interest margin(3)         4.32 %           4.18 %
    Tax-equivalent(4)                      
    Net interest income     $ 44,660           $ 43,325    
    Interest rate spread         3.65 %           3.51 %
    Net interest margin(3)         4.37 %           4.22 %

    (1)  Average loans receivable balances include loans held for sale and nonaccruing loans.
    (2)  Average other interest-earning assets consist of FRB stock, FHLB stock, SBIC investments and deposits in other banks.
    (3)  Net interest income divided by average interest-earning assets.
    (4)  Tax-equivalent results include adjustments to interest income of $431 and $418 for the three months ended June 30, 2025 and March 31, 2025, respectively, calculated based on a combined federal and state tax rate of 24%.

    Total interest and dividend income for the three months ended June 30, 2025 did not vary significantly when compared to the three months ended March 31, 2025. Regarding the components of this income, loan interest income increased $1.8 million, or 3.1%, primarily due to an increase in yield on loans and an additional day in the current quarter, which was offset by a $1.7 million, or 52.3%, decrease in other investments and interest-bearing deposits income, mainly due to a $1.0 million, or 78.9%, decrease in SBIC investment income where significant investment appreciation was recognized in the prior quarter. Accretion income on acquired loans of $1.0 million and $322,000 was recognized during the same periods, respectively, and was included in interest income on loans.

    Total interest expense for the three months ended June 30, 2025 decreased $1.3 million, or 6.3%, compared to the three months ended March 31, 2025. The decrease was primarily the result of a decline in the average balance of certificate accounts, specifically brokered deposits, and a decline in the average cost of funds across funding categories.

    The following table shows the effects that changes in average balances (volume), including the difference in the number of days in the periods compared, and average interest rates (rate) had on the interest earned on interest-earning assets and interest paid on interest-bearing liabilities:

      Increase / (Decrease)
    Due to
      Total
    Increase /
    (Decrease)
    (Dollars in thousands) Volume   Rate  
    Interest-earning assets          
    Loans receivable $ 703     $ 1,124     $ 1,827  
    Debt securities available for sale   (17 )     (112 )     (129 )
    Other interest-earning assets   (878 )     (814 )     (1,692 )
    Total interest-earning assets   (192 )     198       6  
    Interest-bearing liabilities          
    Interest-bearing checking accounts   (8 )     (65 )     (73 )
    Money market accounts   (7 )     (166 )     (173 )
    Savings accounts         (1 )     (1 )
    Certificate accounts   (767 )     (493 )     (1,260 )
    Junior subordinated debt   3       (2 )     1  
    Borrowings   249       (59 )     190  
    Total interest-bearing liabilities   (530 )     (786 )     (1,316 )
    Increase in net interest income         $ 1,322  


    Provision for Credit Losses.
      The provision for credit losses is the amount of expense that, based on our judgment, is required to maintain the allowance for credit losses (“ACL”) at an appropriate level under the current expected credit losses model.

    The following table presents a breakdown of the components of the provision for credit losses:

      Three Months Ended    
    (Dollars in thousands) June 30, 2025   March 31, 2025   $ Change   % Change
    Provision for credit losses              
    Loans $ 1,385     $ 800     $ 585     73 %
    Off-balance-sheet credit exposure   (82 )     740       (822 )   (111 )
    Total provision for credit losses $ 1,303     $ 1,540     $ (237 )   (15 )%

    For the quarter ended June 30, 2025, the “loans” portion of the provision for credit losses was the result of the following, offset by net charge-offs of $2.0 million during the quarter:

    • $0.3 million benefit driven by changes in the loan mix.
    • $1.6 million benefit due to changes in qualitative adjustments, partially offset by a slight worsening of the projected economic forecast, specifically the national unemployment rate. Of note, we released the $2.2 million qualitative allocation previously established for the potential impact of Hurricane Helene upon our loan portfolio which had been established in the quarter ended September 30, 2024. Any residual impact of the Hurricane is believed to have now been reflected elsewhere within the ACL calculation.
    • $1.3 million increase in specific reserves on individually evaluated loans.

    For the quarter ended March 31, 2025, the “loans” portion of the provision for credit losses was the result of the following, offset by net charge-offs of $1.3 million during the quarter:

    • $0.6 million benefit driven by changes in the loan mix.
    • A slight improvement in the projected economic forecast, specifically the national unemployment rate, was offset by changes in qualitative adjustments.
    • $0.1 million increase in specific reserves on individually evaluated loans.

    For the quarter ended June 30, 2025, the amount recorded for off-balance-sheet credit exposure was the result of an increase in the balance of loan commitments offset by changes in the projected economic forecast and qualitative allocation as outlined above. For the quarter ended March 31, 2025, the amount recorded for off-balance-sheet credit exposure was the result of an increase in the balance of loan commitments and changes in the loan mix and projected economic forecast as outlined above.

    Noninterest Income.  Noninterest income for the three months ended June 30, 2025 increased $2.1 million, or 26.5%, when compared to the quarter ended March 31, 2025. Changes in the components of noninterest income are discussed below:

      Three Months Ended    
    (Dollars in thousands) June 30, 2025   March 31, 2025   $ Change   % Change
    Noninterest income              
    Service charges and fees on deposit accounts $ 2,502     $ 2,244     $ 258     11 %
    Loan income and fees   548       721       (173 )   (24 )
    Gain on sale of loans held for sale   2,109       1,908       201     11  
    Bank owned life insurance (“BOLI”) income   852       842       10     1  
    Operating lease income   1,876       1,379       497     36  
    Gain on sale of branches   1,448             1,448     100  
    Gain on sale of premises and equipment   28             28     100  
    Other   794       933       (139 )   (15 )
    Total noninterest income $ 10,157     $ 8,027     $ 2,130     27 %
    • Gain on sale of loans held for sale: The increase was primarily driven by sales of the guaranteed portion of SBA commercial loans during the period. There were $7.3 million in sales of the guaranteed portion of SBA commercial loans with gains of $570,000 for the current quarter compared to $4.6 million sold and gains of $366,000 for the prior quarter. There were $108.8 million of HELOCs originated for sale which were sold during the current quarter with gains of $954,000 compared to $89.4 million sold with gains of $1.1 million in the prior quarter. There were $30.3 million of residential mortgage loans sold for gains of $558,000 during the current quarter compared to $18.8 million sold with gains of $473,000 in the prior quarter. Our hedging of mandatory commitments on the residential mortgage loan pipeline resulted in a net gain of $27,000 for the current quarter compared to a net gain of $13,000 for the prior quarter.
    • Operating lease income: The increase was primarily the result of a reduction in losses recognized on the sale of previously leased equipment. We recognized net losses of $358,000 and $745,000 during the three months ended June 30, 2025 and March 31, 2025, respectively.
    • Gain on sale of branches: On May 23, 2025, we completed the previously announced sale of our two Knoxville, Tennessee branches, recognizing a gain of $1.4 million. The gain was primarily the result of a premium received on the deposits assumed by the purchasing institution, partially offset by expenses associated with the transaction.

    Noninterest Expense.  Noninterest expense for the three months ended June 30, 2025 increased $294,000, or 0.9%, when compared to the three months ended March 31, 2025. Changes in the components of noninterest expense are discussed below:

      Three Months Ended    
    (Dollars in thousands) June 30, 2025   March 31, 2025   $ Change   % Change
    Noninterest expense              
    Salaries and employee benefits $ 18,208     $ 17,699     $ 509     3 %
    Occupancy expense, net   2,375       2,511       (136 )   (5 )
    Computer services   2,488       2,805       (317 )   (11 )
    Operating lease depreciation expense   1,789       1,868       (79 )   (4 )
    Telephone, postage and supplies   561       546       15     3  
    Marketing and advertising   442       452       (10 )   (2 )
    Deposit insurance premiums   473       511       (38 )   (7 )
    Core deposit intangible amortization   411       515       (104 )   (20 )
    Other   4,508       4,054       454     11  
    Total noninterest expense $ 31,255     $ 30,961     $ 294     1 %
    • Computer services: At the end of the prior calendar year, we finalized the multiyear renewal of our largest core processing contract. The decrease in expense quarter-over-quarter is a reflection of the improved vendor pricing negotiated through this effort.
    • Other: The change was driven by an increase in loan workout expenses in addition to smaller increases across several other expense categories.

    Income Taxes.  The amount of income tax expense is influenced by the amount of pre-tax income, tax-exempt income, changes in the statutory rate and the effect of changes in valuation allowances maintained against deferred tax benefits. The effective tax rates for the three months ended June 30, 2025 and March 31, 2025 were 21.2% and 21.1%, respectively.

    Comparison of Results of Operations for the Six Months Ended June 30, 2025 and June 30, 2024
    Net Income.  Net income totaled $31.7 million, or $1.84 per diluted share, for the six months ended June 30, 2025 compared to $27.5 million, or $1.61 per diluted share, for the six months ended June 30, 2024, an increase of $4.3 million, or 15.5%. The results for the six months ended June 30, 2025 were positively impacted by a $3.2 million increase in net interest income, a decrease of $2.6 million in the provision for credit losses, a $1.3 million increase in noninterest income, partially offset by a $1.6 million increase in noninterest expense. Details of the changes in the various components of net income are further discussed below.

    Net Interest Income.  The following table presents the distribution of average assets, liabilities and equity, as well as interest income earned on average interest-earning assets and interest expense paid on average interest-bearing liabilities. All average balances are daily average balances. Nonaccruing loans have been included in the table as loans carrying a zero yield.

      Six Months Ended
      June 30, 2025   June 30, 2024
    (Dollars in thousands) Average
    Balance
    Outstanding
      Interest
    Earned /
    Paid
      Yield /
    Rate
      Average
    Balance
    Outstanding
      Interest
    Earned /
    Paid
      Yield /
    Rate
    Assets                      
    Interest-earning assets                      
    Loans receivable(1) $ 3,803,259     $ 119,053   6.31 %   $ 3,874,740     $ 122,113   6.34 %
    Debt securities available for sale   151,127       3,445   4.60       130,510       2,808   4.33  
    Other interest-earning assets(2)   177,551       4,778   5.43       135,936       3,848   5.69  
    Total interest-earning assets   4,131,937       127,276   6.21       4,141,186       128,769   6.25  
    Other assets   264,865               282,550          
    Total assets $ 4,396,802             $ 4,423,736          
    Liabilities and equity                      
    Interest-bearing liabilities                      
    Interest-bearing checking accounts $ 568,540     $ 2,575   0.91 %   $ 588,567     $ 2,870   0.98 %
    Money market accounts   1,337,731       18,180   2.74       1,289,758       19,340   3.02  
    Savings accounts   182,844       75   0.08       189,887       84   0.09  
    Certificate accounts   909,787       18,389   4.08       895,242       19,162   4.30  
    Total interest-bearing deposits   2,998,902       39,219   2.64       2,963,454       41,456   2.81  
    Junior subordinated debt   10,142       411   8.17       10,042       470   9.41  
    Borrowings   21,780       510   4.72       95,235       2,902   6.13  
    Total interest-bearing liabilities   3,030,824       40,140   2.67       3,068,731       44,828   2.94  
    Noninterest-bearing deposits   732,123               789,565          
    Other liabilities   65,367               50,224          
    Total liabilities   3,828,314               3,908,520          
    Stockholders’ equity   568,488               515,216          
    Total liabilities and stockholders’ equity $ 4,396,802             $ 4,423,736          
    Net earning assets $ 1,101,113             $ 1,072,455          
    Average interest-earning assets to average interest-bearing liabilities   136.33 %             134.95 %        
    Non-tax-equivalent                      
    Net interest income     $ 87,136           $ 83,941    
    Interest rate spread         3.54 %           3.31 %
    Net interest margin(3)         4.25 %           4.08 %
    Tax-equivalent(4)                      
    Net interest income     $ 87,985           $ 84,645    
    Interest rate spread         3.58 %           3.35 %
    Net interest margin(3)         4.29 %           4.11 %

    (1)  Average loans receivable balances include loans held for sale and nonaccruing loans.
    (2)  Average other interest-earning assets consist of FRB stock, FHLB stock, SBIC investments and deposits in other banks.
    (3)  Net interest income divided by average interest-earning assets.
    (4)  Tax-equivalent results include adjustments to interest income of $849 and $704 for the six months ended June 30, 2025 and June 30, 2024, respectively, calculated based on a combined federal and state tax rate of 24%.

    Total interest and dividend income for the six months ended June 30, 2025 decreased $1.5 million, or 1.2%, compared to the six months ended June 30, 2024, which was driven by a $3.1 million, or 2.5%, decrease in interest income on loans, partially offset by a combined $1.6 million, or 23.5%, increase in interest income on debt securities available for sale and other interest-bearing assets. Accretion income on acquired loans of $1.3 million and $1.4 million was recognized during the same periods, respectively, and was included in interest income on loans. The overall decrease in average yield on interest-earning assets was mainly the result of a decline in average balances, specifically for the loan portfolio where we continue to be focused on prudent loan growth.

    Total interest expense for the six months ended June 30, 2025 decreased $4.7 million, or 10.5%, compared to the six months ended June 30, 2024. The change was primarily the result of a decrease in the average balance of borrowings in addition to the cost of funds across all funding sources.

    The following table shows the effects that changes in average balances (volume), including the difference in the number of days in the periods compared, and average interest rates (rate) had on the interest earned on interest-earning assets and interest paid on interest-bearing liabilities:

      Increase / (Decrease)
    Due to
      Total
    Increase /
    (Decrease)
    (Dollars in thousands) Volume   Rate  
    Interest-earning assets          
    Loans receivable $ (2,583 )   $ (477 )   $ (3,060 )
    Debt securities available for sale   434       203       637  
    Other interest-earning assets   1,165       (235 )     930  
    Total interest-earning assets   (984 )     (509 )     (1,493 )
    Interest-bearing liabilities          
    Interest-bearing checking accounts   (105 )     (190 )     (295 )
    Money market accounts   669       (1,829 )     (1,160 )
    Savings accounts   (3 )     (6 )     (9 )
    Certificate accounts   260       (1,033 )     (773 )
    Junior subordinated debt   4       (63 )     (59 )
    Borrowings   (2,240 )     (152 )     (2,392 )
    Total interest-bearing liabilities   (1,415 )     (3,273 )     (4,688 )
    Increase in net interest income         $ 3,195  


    Provision for Credit Losses.
      The following table presents a breakdown of the components of the provision for credit losses:

      Six Months Ended      
    (Dollars in thousands) June 30, 2025   June 30, 2024   $ Change   % Change  
    Provision for credit losses                
    Loans $ 2,185     $ 5,445     $ (3,260 )   (60 )%
    Off-balance-sheet credit exposure   658       (20 )     678     3,390  
    Total provision for credit losses $ 2,843     $ 5,425     $ (2,582 )   (48 )%

    For the six months ended June 30, 2025, the “loans” portion of the provision for credit losses was the result of the following, offset by net charge-offs of $3.3 million during the period.

    • $0.9 million benefit driven by changes in the loan mix.
    • $1.6 million benefit due to changes in qualitative adjustments, partially offset by a slight worsening of the projected economic forecast, specifically the national unemployment rate. Of note, we released the $2.2 million qualitative allocation previously established for the potential impact of Hurricane Helene upon our loan portfolio which had been established in the quarter ended September 30, 2024. Any residual impact of the Hurricane is believed to have now been reflected elsewhere within the ACL calculation.
    • $1.4 million increase in specific reserves on individually evaluated loans.

    For the six months ended June 30, 2024, the “loans” portion of the provision for credit losses was the result of the following, in addition to net charge-offs of $4.9 million during the period:

    • $1.3 million benefit due to changes in the projected economic forecast, specifically the national unemployment rate, and changes in qualitative adjustments.
    • $1.8 million increase in specific reserves on individually evaluated loans which was proportional to the increase in the associated loan balances which increased from $8.1 million to $16.3 million during the six month period, concentrated in the equipment finance and SBA portfolios.

    For the six months ended June 30, 2025 and June 30, 2024, the amounts recorded for off-balance-sheet credit exposure were the result of changes in the balance of loan commitments, loan mix and projected economic forecast as outlined above.

    Noninterest Income.  Noninterest income for the six months ended June 30, 2025 increased $1.3 million, or 7.4%, when compared to the same period last year. Changes in the components of noninterest income are discussed below:

      Six Months Ended    
    (Dollars in thousands) June 30, 2025   June 30, 2024   $ Change   % Change
    Noninterest income              
    Service charges and fees on deposit accounts $ 4,746     $ 4,503     $ 243     5 %
    Loan income and fees   1,269       1,325       (56 )   (4 )
    Gain on sale of loans held for sale   4,017       3,285       732     22  
    BOLI income   1,694       2,642       (948 )   (36 )
    Operating lease income   3,255       3,450       (195 )   (6 )
    Gain on sale of branches   1,448             1,448     100  
    Gain (loss) on sale of premises and equipment   28       (9 )     37     411  
    Other   1,727       1,728       (1 )    
    Total noninterest income $ 18,184     $ 16,924     $ 1,260     7 %
                                 
    • Gain on sale of loans held for sale: The increase in the gain on sale of loans held for sale was primarily driven by HELOCs and residential mortgage loans sold during the period. During the six months ended June 30, 2025, there were $198.2 million of HELOCs sold during the current period for gains of $2.0 million compared to $40.7 million sold and gains of $473,000 for the corresponding period in the prior year. There were $49.1 million of residential mortgage loans originated for sale which were sold with gains of $1.0 million compared to $36.6 million sold with gains of $667,000 for the corresponding period in the prior year. There were $11.9 million of sales of the guaranteed portion of SBA commercial loans with gains of $936,000 compared to $25.6 million sold and gains of $2.1 million for the corresponding period in the prior year. Our hedging of mandatory commitments on the residential mortgage loan pipeline resulted in a net gain of $40,000 for the six months ended June 30, 2025 versus a net loss of $3,000 for the six months ended June 30, 2024.
    • BOLI income: The decrease was due to $1.1 million in tax-free gains on death benefit proceeds in excess of the cash surrender value of the policies recognized in the prior period, partially offset by higher yielding policies as a result of restructuring the portfolio at the end of the prior calendar year.
    • Gain on sale of branches: As discussed earlier, during the current period we completed the previously announced sale of our two Knoxville, Tennessee branches, recognizing a gain of $1.4 million in the current period.

    Noninterest Expense.  Noninterest expense for the six months ended June 30, 2025 increased $2.1 million, or 3.6%, when compared to the same period last year. Changes in the components of noninterest expense are discussed below:

      Six Months Ended    
    (Dollars in thousands) June 30, 2025   June 30, 2024   $ Change   % Change
    Noninterest expense              
    Salaries and employee benefits $ 35,907     $ 33,584     $ 2,323     7 %
    Occupancy expense, net   4,886       4,856       30     1  
    Computer services   5,293       6,204       (911 )   (15 )
    Operating lease depreciation expense   3,657       3,565       92     3  
    Telephone, postage and supplies   1,107       1,165       (58 )   (5 )
    Marketing and advertising   894       1,251       (357 )   (29 )
    Deposit insurance premiums   984       1,085       (101 )   (9 )
    Core deposit intangible amortization   926       1,329       (403 )   (30 )
    Other   8,562       7,580       982     13  
    Total noninterest expense $ 62,216     $ 60,619     $ 1,597     3 %
                                 
    • Salaries and employee benefits: The increase was primarily the result of increases in both pay and incentive compensation.
    • Computer services: As discussed earlier, the decrease in expense year-over-year is a reflection of the improved vendor pricing associated with the multiyear renewal of our largest core processing contract.
    • Marketing and advertising: The decrease was the result of a reduction in spending in the six months ended June 30, 2025 when compared to the same period of the prior year, as we re-evaluated our marketing strategy for future periods.
    • Core deposit intangible amortization: The intangible recorded associated with the Quantum merger is being amortized on an accelerated basis, so the rate of amortization slowed year-over-year.
    • Other: The increase period-over-period was driven by increases of $274,000 in losses on the sale repossessed equipment, $234,000 in community association banking deposit line of business referral fees, and $224,000 in consulting fees.

    Income Taxes. The amount of income tax expense is influenced by the amount of pre-tax income, tax-exempt income, changes in the statutory rate and the effect of changes in valuation allowances maintained against deferred tax benefits. The effective tax rate was 21.1% for both the six months ended June 30, 2025 and June 30, 2024.

    Balance Sheet Review
    Total assets decreased by $17.4 million to $4.6 billion and total liabilities decreased by $44.9 million to $4.0 billion, respectively, at June 30, 2025 as compared to December 31, 2024. These changes can be traced to the use of the proceeds of both loan sales and the maturities of debt securities and certificates of deposit to fund loan growth. Total deposits declined by $113.0 million over the same period. The decrease was mainly the result of a reduction in brokered deposits of $96.5 million and $34.3 million of deposits which were assumed by the purchaser of our two Knoxville, Tennessee branches. Borrowings increased by $77.0 million to provide additional liquidity.

    Stockholders’ equity increased $27.5 million to $579.3 million at June 30, 2025 as compared to December 31, 2024. Activity within stockholders’ equity included $31.8 million in net income and $2.2 million in stock-based compensation and stock option exercises, partially offset by $4.1 million in cash dividends declared and $3.3 million in stock repurchases. In addition, accumulated other comprehensive income improved by $1.4 million due to a reduction in the unrealized loss on available for sale securities due to changes in market interest rates.

    As of June 30, 2025, the Bank was considered “well capitalized” in accordance with its regulatory capital guidelines and exceeded all regulatory capital requirements.

    Asset Quality
    The ACL on loans was $44.1 million, or 1.20% of total loans, at June 30, 2025 compared to $45.3 million, or 1.24% of total loans, at December 31, 2024. The drivers of this change are discussed in the “Comparison of Results of Operations for the Six Months Ended June 30, 2025 and June 30, 2024 – Provision for Credit Losses” section above.

    Net loan charge-offs totaled $3.3 million for the six months ended June 30, 2025 compared to $4.9 million for the same period last year. Annualized net charge-offs as a percentage of average loans were 0.18% for the six months ended June 30, 2025 as compared to 0.25% for the six months ended June 30, 2024.

    Nonperforming assets, made up of nonaccrual loans and repossessed assets, increased by $2.5 million, or 8.9%, to $30.5 million, or 0.67% of total assets, at June 30, 2025 compared to $28.0 million, or 0.61% of total assets, at March 31, 2025. Owner occupied commercial real estate (“CRE”) made up the largest portion of nonperforming assets at $8.9 million and $8.6 million, respectively, at these same dates. One relationship made up $5.0 million of the totals at both dates but no loss is anticipated. In addition, equipment finance loans made up $6.0 million and $5.1 million, respectively, at these same dates, concentrated in the transportation sector. The ratio of nonperforming loans to total loans was 0.81% at June 30, 2025 compared to 0.74% at March 31, 2025.

    Nonperforming assets increased by $1.7 million, or 6.1%, to $30.5 million, or 0.67% of total assets, at June 30, 2025 compared to $28.8 million, or 0.63% of total assets, at December 31, 2024, with the composition of nonperforming assets remaining consistent between periods. The ratio of nonperforming loans to total loans was 0.81% at June 30, 2025 compared to 0.76% at December 31, 2024.

    Classified assets increased by $8.2 million, or 20.0%, to $48.8 million, or 1.07% of total assets, as of June 30, 2025 when compared to the balance of $40.7 million, or 0.89% of total assets, at March 31, 2025. The drivers of the change were increases of $3.2 million in Equipment Finance loans, $2.3 million in commercial and industrial loans, and $1.6 million in owner-occupied CRE loans. Classified assets increased by $69,000, or 0.14%, to $48.8 million, or 1.07% of total assets, as of June 30, 2025 when compared to the balance of $48.8 million, or 1.06% of total assets, at December 31, 2024. The largest portfolios of classified assets at June 30, 2025 included $14.5 million of owner-occupied CRE loans, $8.6 million of equipment finance loans, $6.5 million of both 1-4 family residential real estate and commercial and industrial loans, $5.4 million of HELOCs, and $4.7 million of non-owner occupied CRE loans.

    Lastly, in an effort to assist customers in their post-Hurricane Helene recovery and clean-up efforts, at the end of the prior calendar year we granted payment deferrals of up to six months to provide short-term relief to impacted customers. The outstanding balance of these deferrals declined from $136.0 million at December 31, 2024 to $18.9 million at June 30, 2025. As stated earlier, after reassessing the remaining exposure and the sufficiency of the ACL in place, in the current quarter we released the $2.2 million qualitative allocation previously established for the storm upon our loan portfolio which had been established in the quarter ended September 30, 2024. To date, $27,000 in charge-offs have been recognized which were directly related to Hurricane Helene.

    About HomeTrust Bancshares, Inc.
    HomeTrust Bancshares, Inc. (NYSE: HTB), headquartered in Asheville, North Carolina, is the holding company for HomeTrust Bank, a state-chartered community bank operating over 30 locations across North Carolina, South Carolina, East Tennessee, Southwest Virginia, and Georgia. With total assets of $4.6 billion as of June 30, 2025, the Company’s goal is to continue to be recognized as a high-performing, regional community bank, while our strategy to reach that goal is to be a best place to work. As a reflection of these efforts, the Company has been named one of Bank Director’s “Best U.S. Banks,” one of Forbes’ “America’s Best Banks”, one of S&P Global’s “Top 50 Community Banks”, and named to the 2025 KBW Honor Roll. In addition, the Company has been recognized as one of American Banker’s “Best Banks to Work For”, received a “Most Loved Workplace” certification by Best Practices Institute, named as one of Best Companies Group’s “America’s Best Workplaces”, as well as being named a “Best Place to Work” in all five states in which the Company operates.

    Forward-Looking Statements
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but instead are based on certain assumptions including statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by forward-looking statements. The factors that could result in material differentiation include, but are not limited to, natural disasters, including the lingering effects of Hurricane Helene; expected revenues, cost savings, synergies and other benefits from merger and acquisition activities might not be realized to the extent anticipated, within the anticipated time frames, or at all, costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected, and goodwill impairment charges might be incurred; increased competitive pressures among financial services companies; changes in the interest rate environment; changes in general economic conditions, both nationally and in our market areas; legislative and regulatory changes; and the effects of inflation, a potential recession, and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission – which are available on the Company’s website at www.htb.com and on the SEC’s website at www.sec.gov. Any of the forward-looking statements that the Company makes in this press release or in the documents the Company files with or furnishes to the SEC are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions, the factors described above or other factors that management cannot foresee. The Company does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    Consolidated Balance Sheets (Unaudited)

    (Dollars in thousands) June 30,
    2025
      March 31,
    2025
      December 31,
    2024
    (1)
      September 30,
    2024
      June 30,
    2024
    Assets                  
    Cash $ 16,662     $ 14,303     $ 18,778     $ 18,980     $ 18,382  
    Interest-bearing deposits   280,547       285,522       260,441       274,497       275,808  
    Cash and cash equivalents   297,209       299,825       279,219       293,477       294,190  
    Certificates of deposit in other banks   23,319       25,806       28,538       29,290       32,131  
    Debt securities available for sale, at fair value   143,942       150,577       152,011       140,552       134,135  
    FHLB and FRB stock   15,263       13,602       13,630       18,384       19,637  
    SBIC investments, at cost   17,720       17,746       15,117       15,489       15,462  
    Loans held for sale, at fair value   1,106       2,175       4,144       2,968       1,614  
    Loans held for sale, at the lower of cost or fair value   169,835       151,164       202,018       189,722       224,976  
    Total loans, net of deferred loan fees and costs   3,671,951       3,648,609       3,648,299       3,698,892       3,701,454  
    Allowance for credit losses – loans   (44,139 )     (44,742 )     (45,285 )     (48,131 )     (49,223 )
    Loans, net   3,627,812       3,603,867       3,603,014       3,650,761       3,652,231  
    Premises and equipment held for sale, at the lower of cost or fair value   616       8,240       616       616       616  
    Premises and equipment, net   62,706       62,347       69,872       69,603       69,880  
    Accrued interest receivable   16,554       18,269       18,336       17,523       18,412  
    Deferred income taxes, net   9,968       9,288       10,735       10,100       10,512  
    BOLI   92,576       91,715       90,868       90,021       89,176  
    Goodwill   34,111       34,111       34,111       34,111       34,111  
    Core deposit intangibles, net   5,670       6,080       6,595       7,162       7,730  
    Other assets   59,646       63,248       66,606       67,514       66,051  
    Total assets $ 4,578,053     $ 4,558,060     $ 4,595,430     $ 4,637,293     $ 4,670,864  
    Liabilities and stockholders’ equity                  
    Liabilities                  
    Deposits $ 3,666,178     $ 3,736,360     $ 3,779,203     $ 3,761,588     $ 3,707,779  
    Junior subordinated debt   10,170       10,145       10,120       10,096       10,070  
    Borrowings   265,000       177,000       188,000       260,013       364,513  
    Other liabilities   57,431       69,106       66,349       65,592       64,874  
    Total liabilities   3,998,779       3,992,611       4,043,672       4,097,289       4,147,236  
    Stockholders’ equity                  
    Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding                            
    Common stock, $0.01 par value, 60,000,000 shares authorized(2)   175       176       175       175       175  
    Additional paid in capital   174,900       176,682       176,693       175,495       172,907  
    Retained earnings   408,178       393,026       380,541       368,383       357,147  
    Unearned Employee Stock Ownership Plan (“ESOP”) shares   (3,703 )     (3,835 )     (3,966 )     (4,099 )     (4,232 )
    Accumulated other comprehensive income (loss)   (276 )     (600 )     (1,685 )     50       (2,369 )
    Total stockholders’ equity   579,274       565,449       551,758       540,004       523,628  
    Total liabilities and stockholders’ equity $ 4,578,053     $ 4,558,060     $ 4,595,430     $ 4,637,293     $ 4,670,864  

    (1)  Derived from audited financial statements.
    (2)  Shares of common stock issued and outstanding were 17,492,143 at June 30, 2025; 17,552,626 at March 31, 2025; 17,527,709 at December 31, 2024; 17,514,922 at September 30, 2024; and 17,437,326 at June 30, 2024.


    Consolidated Statements of Income (Unaudited)

      Three Months Ended   Six Months Ended
    (Dollars in thousands) June 30, 2025   March 31, 2025   June 30, 2025   June 30, 2024
    Interest and dividend income              
    Loans $ 60,440     $ 58,613     $ 119,053     $ 122,113  
    Debt securities available for sale   1,658       1,787       3,445       2,808  
    Other investments and interest-bearing deposits   1,543       3,235       4,778       3,848  
    Total interest and dividend income   63,641       63,635       127,276       128,769  
    Interest expense              
    Deposits   18,856       20,363       39,219       41,456  
    Junior subordinated debt   206       205       411       470  
    Borrowings   350       160       510       2,902  
    Total interest expense   19,412       20,728       40,140       44,828  
    Net interest income   44,229       42,907       87,136       83,941  
    Provision for credit losses   1,303       1,540       2,843       5,425  
    Net interest income after provision for credit losses   42,926       41,367       84,293       78,516  
    Noninterest income              
    Service charges and fees on deposit accounts   2,502       2,244       4,746       4,503  
    Loan income and fees   548       721       1,269       1,325  
    Gain on sale of loans held for sale   2,109       1,908       4,017       3,285  
    BOLI income   852       842       1,694       2,642  
    Operating lease income   1,876       1,379       3,255       3,450  
    Gain on sale of branches   1,448             1,448        
    Gain (loss) on sale of premises and equipment   28             28       (9 )
    Other   794       933       1,727       1,728  
    Total noninterest income   10,157       8,027       18,184       16,924  
    Noninterest expense              
    Salaries and employee benefits   18,208       17,699       35,907       33,584  
    Occupancy expense, net   2,375       2,511       4,886       4,856  
    Computer services   2,488       2,805       5,293       6,204  
    Operating lease depreciation expense   1,789       1,868       3,657       3,565  
    Telephone, postage and supplies   561       546       1,107       1,165  
    Marketing and advertising   442       452       894       1,251  
    Deposit insurance premiums   473       511       984       1,085  
    Core deposit intangible amortization   411       515       926       1,329  
    Other   4,508       4,054       8,562       7,580  
    Total noninterest expense   31,255       30,961       62,216       60,619  
    Income before income taxes   21,828       18,433       40,261       34,821  
    Income tax expense   4,618       3,894       8,512       7,336  
    Net income $ 17,210     $ 14,539     $ 31,749     $ 27,485  

    Per Share Data

        Three Months Ended    Six Months Ended
        June 30, 2025   March 31, 2025   June 30, 2025   June 30, 2024
    Net income per common share(1)                
    Basic   $ 1.01     $ 0.84     $ 1.85     $ 1.61  
    Diluted   $ 1.00     $ 0.84     $ 1.84     $ 1.61  
    Average shares outstanding                
    Basic     17,006,141       17,011,359       17,008,699       16,871,383  
    Diluted     17,106,448       17,113,424       17,109,842       16,888,550  
    Book value per share at end of period   $ 33.12     $ 32.21     $ 33.12     $ 30.03  
    Tangible book value per share at end of period(2)   $ 30.92     $ 30.00     $ 30.92     $ 27.73  
    Cash dividends declared per common share   $ 0.12     $ 0.12     $ 0.24     $ 0.22  
    Total shares outstanding at end of period     17,492,143       17,552,626       17,492,143       17,437,326  

    (1)  Basic and diluted net income per common share have been prepared in accordance with the two-class method.
    (2)  See Non-GAAP reconciliations below for adjustments.


    Selected Financial Ratios and Other Data

      Three Months Ended   Six Months Ended
      June 30, 2025   March 31, 2025   June 30, 2025   June 30, 2024
    Performance ratios(1)          
    Return on assets (ratio of net income to average total assets) 1.58 %   1.33 %   1.46 %   1.25 %
    Return on equity (ratio of net income to average equity) 11.97     10.52     11.26     10.73  
    Yield on earning assets 6.22     6.20     6.21     6.25  
    Rate paid on interest-bearing liabilities 2.61     2.73     2.67     2.94  
    Average interest rate spread 3.61     3.47     3.54     3.31  
    Net interest margin(2) 4.32     4.18     4.25     4.08  
    Average interest-earning assets to average interest-bearing liabilities 137.43     135.25     136.33     134.95  
    Noninterest expense to average total assets 2.87     2.84     2.85     2.76  
    Efficiency ratio 57.47     60.79     59.07     60.10  
    Efficiency ratio – adjusted(3) 58.59     60.29     59.43     60.36  

    (1)  Ratios are annualized where appropriate.
    (2)  Net interest income divided by average interest-earning assets.
    (3)  See Non-GAAP reconciliations below for adjustments.

      At or For the Three Months Ended
      June 30,
    2025
      March 31,
    2025
      December 31,
    2024
      September 30,
    2024
      June 30,
    2024
    Asset quality ratios                  
    Nonperforming assets to total assets(1) 0.67 %   0.61 %   0.63 %   0.64 %   0.54 %
    Nonperforming loans to total loans(1) 0.81     0.74     0.76     0.78     0.68  
    Total classified assets to total assets 1.07     0.85     1.06     0.99     0.91  
    Allowance for credit losses to nonperforming loans(1) 147.98     165.96     163.68     166.51     194.80  
    Allowance for credit losses to total loans 1.20     1.23     1.24     1.30     1.33  
    Net charge-offs to average loans (annualized) 0.21     0.14     0.19     0.42     0.27  
    Capital ratios                  
    Equity to total assets at end of period 12.65 %   12.41 %   12.01 %   11.64 %   11.21 %
    Tangible equity to total tangible assets(2) 11.91     11.65     11.25     10.88     10.44  
    Average equity to average assets 13.20     12.66     12.28     12.02     11.78  

    (1)  Nonperforming assets include nonaccruing loans and repossessed assets. There were no accruing loans more than 90 days past due at the dates indicated. At June 30, 2025, $6.1 million, or 20.4%, of nonaccruing loans were current on their loan payments as of that date.
    (2)  See Non-GAAP reconciliations below for adjustments.


    Loans

    (Dollars in thousands) June 30,
    2025
      March 31,
    2025
      December 31,
    2024
      September 30,
    2024
      June 30,
    2024
    Commercial real estate                  
    Construction and land development $ 267,494     $ 247,539     $ 274,356     $ 300,905     $ 316,050  
    Commercial real estate – owner occupied   561,623       570,150       545,490       544,689       545,631  
    Commercial real estate – non-owner occupied   877,440       867,711       866,094       881,340       892,653  
    Multifamily   113,416       118,094       120,425       114,155       92,292  
    Total commercial real estate   1,819,973       1,803,494       1,806,365       1,841,089       1,846,626  
    Commercial                  
    Commercial and industrial   367,359       349,085       316,159       286,809       266,136  
    Equipment finance   360,499       380,166       406,400       443,033       461,010  
    Municipal leases   168,623       163,554       165,984       158,560       152,509  
    Total commercial   896,481       892,805       888,543       888,402       879,655  
    Residential real estate                  
    Construction and land development   53,020       56,858       53,683       63,016       70,679  
    One-to-four family   640,287       631,537       630,391       627,845       621,196  
    HELOCs   205,918       199,747       195,288       194,909       188,465  
    Total residential real estate   899,225       888,142       879,362       885,770       880,340  
    Consumer   56,272       64,168       74,029       83,631       94,833  
    Total loans, net of deferred loan fees and costs   3,671,951       3,648,609       3,648,299       3,698,892       3,701,454  
    Allowance for credit losses – loans   (44,139 )     (44,742 )     (45,285 )     (48,131 )     (49,223 )
    Loans, net $ 3,627,812     $ 3,603,867     $ 3,603,014     $ 3,650,761     $ 3,652,231  


    Deposits

    (Dollars in thousands) June 30,
    2025
      March 31,
    2025
      December 31,
    2024
      September 30,
    2024
      June 30,
    2024
    Core deposits                  
    Noninterest-bearing accounts $ 698,843     $ 721,814     $ 680,926     $ 684,501     $ 683,346  
    NOW accounts   561,524       573,745       575,238       534,517       561,789  
    Money market accounts   1,323,762       1,357,961       1,341,995       1,345,289       1,311,940  
    Savings accounts   179,980       184,396       181,317       179,762       185,499  
    Total core deposits   2,764,109       2,837,916       2,779,476       2,744,069       2,742,574  
    Certificates of deposit   902,069       898,444       999,727       1,017,519       965,205  
    Total $ 3,666,178     $ 3,736,360     $ 3,779,203     $ 3,761,588     $ 3,707,779  

    Non-GAAP Reconciliations
    In addition to results presented in accordance with generally accepted accounting principles utilized in the United States (“GAAP”), this earnings release contains certain non-GAAP financial measures, which include: the efficiency ratio, tangible book value, tangible book value per share and the tangible equity to tangible assets ratio. The Company believes these non-GAAP financial measures and ratios as presented are useful for both investors and management to understand the effects of certain items and provide an alternative view of its performance over time and in comparison to its competitors. These non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for total stockholders’ equity or operating results determined in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

    Set forth below is a reconciliation to GAAP of the Company’s efficiency ratio:

        Three Months Ended   Six Months Ended
    (Dollars in thousands)   June 30, 2025   March 31, 2025   June 30, 2025   June 30, 2024
    Noninterest expense   $ 31,255     $ 30,961     $ 62,216     $ 60,619  
                     
    Net interest income   $ 44,229     $ 42,907     $ 87,136     $ 83,941  
    Plus: tax-equivalent adjustment     431       418       849       704  
    Plus: noninterest income     10,157       8,027       18,184       16,924  
    Less: BOLI death benefit proceeds in excess of cash surrender value                       1,143  
    Less: gain on sale of branches     1,448             1,448        
    Less: gain (loss) on sale of premises and equipment     28             28       (9 )
    Net interest income plus noninterest income – adjusted   $ 53,341     $ 51,352     $ 104,693     $ 100,435  
    Efficiency ratio   57.47 %   60.79 %   59.07 %   60.10 %
    Efficiency ratio – adjusted   58.59 %   60.29 %   59.43 %   60.36 %

    Set forth below is a reconciliation to GAAP of tangible book value and tangible book value per share:

        As of
    (Dollars in thousands, except per share data)   June 30,
    2025
      March 31,
    2025
      December 31,
    2024
      September 30,
    2024
      June 30,
    2024
    Total stockholders’ equity   $ 579,274     $ 565,449     $ 551,758     $ 540,004     $ 523,628  
    Less: goodwill, core deposit intangibles, net of taxes     38,477       38,793       39,189       39,626       40,063  
    Tangible book value   $ 540,797     $ 526,656     $ 512,569     $ 500,378     $ 483,565  
    Common shares outstanding     17,492,143       17,552,626       17,527,709       17,514,922       17,437,326  
    Book value per share   $ 33.12     $ 32.21     $ 31.48     $ 30.83     $ 30.03  
    Tangible book value per share   $ 30.92     $ 30.00     $ 29.24     $ 28.57     $ 27.73  

    Set forth below is a reconciliation to GAAP of tangible equity to tangible assets:

        As of
    (Dollars in thousands)   June 30,
    2025
      March 31,
    2025
      December 31,
    2024
      September 30,
    2024
      June 30,
    2024
    Tangible equity(1)   $ 540,797     $ 526,656     $ 512,569     $ 500,378     $ 483,565  
    Total assets     4,578,053       4,558,060       4,595,430       4,637,293       4,670,864  
    Less: goodwill, core deposit intangibles, net of taxes     38,477       38,793       39,189       39,626       40,063  
    Total tangible assets   $ 4,539,576     $ 4,519,267     $ 4,556,241     $ 4,597,667     $ 4,630,801  
    Tangible equity to tangible assets   11.91 %   11.65 %   11.25 %   10.88 %   10.44 %

    (1)  Tangible equity (or tangible book value) is equal to total stockholders’ equity less goodwill and core deposit intangibles, net of related deferred tax liabilities.

    The MIL Network

  • MIL-OSI: JMU experts offer back-to-school insights on AI, student wellness, and more

    Source: GlobeNewswire (MIL-OSI)

    HARRISONBURG, Va., July 22, 2025 (GLOBE NEWSWIRE) — As AI becomes increasingly embedded in college life, James Madison University is equipping students and faculty with the tools to think critically about its use. Professor Philip Frana, a leading voice on the ethical and educational implications of AI, urges the campus community to go beyond simply using AI — and start questioning it. 

    Topics Frana is available to discuss include: 

    • – Conformity risks: How AI-generated content may push students toward generic, conformist and even mediocre expression. 
    • – The value of originality: How tools that reduce originality or ingenuity have no place in higher education. “AI can aid brainstorming,” he said, “but it can’t replace an authentic student question or genuine personal insight.” 
    • – The design of dependency: How AI interfaces, like social media, are designed to be habit-forming, encouraging overreliance on automation. 
    • – The role of higher education: How universities must guide educators to use AI responsibly in the service of society and empower them to contribute directly to AI innovation on campus. 
    • – The future of education: How AI will increase the need for a university education that encourages critical thinking and fosters ethical reasoning.  

    In addition to Frana, the following experts are available to discuss students’ health and wellness, learning routines, budgeting and dating habits: 

    John Almarode, a professor in the College of Education, researches transitions, recalibrating routines and enhancing learner readiness. 

    Jeremy Akers, a professor in the College of Health and Behavioral Studies, researches nutrition, exercise and weight management. 

    Trent Hargens, a professor in the College of Health and Behavioral Studies, researches the physiological links between sleep quality, physical activity and sedentary behavior. 

    Ron Rubin, a lecturer in the College of Business, helps students understand the importance of personal financing, identifying basic budgeting strategies, how to build creditworthiness and saving for retirement. 

    Dayna Henry, a professor in the College of Health and Behavioral Studies, studies sexuality education and can discuss sexual assault prevention and sexual and relationship health. 

    Jennie Rosier, a professor in the College of Arts and Letters, researches romantic and parent-child relationships and has done several interviews recently on Gen Z dating habits. 

    To arrange an interview with these experts, please contact Chad Saylor at saylorcx@jmu.edu  or Eric Gorton at gortonej@jmu.edu 

    The MIL Network

  • MIL-OSI: Fortinet Advances Quantum-Safe Security to Guard against Emerging Quantum Threats

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., July 22, 2025 (GLOBE NEWSWIRE) —

    News Summary
    Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced expanded innovations within its unified operating system, FortiOS, that protect against quantum-computing threats to current encryption standards. The latest FortiOS capabilities help organizations with highly sensitive data deploy encryption algorithms and key distribution methods that can withstand quantum-powered attacks, stack algorithms for more robust protection, and easily transition to post-quantum security.

    “At Fortinet, we’re committed to arming customers with cutting-edge technology to protect against new and emerging threats. As quantum computing advances, organizations can trust Fortinet’s technology innovation and leadership to safeguard their critical data and future-proof their infrastructures,” said Michael Xie, Founder, President, and Chief Technology Officer at Fortinet. “Many enterprises are eager to take action to protect their networks from quantum-powered threats. That’s why we’ve made cutting-edge, quantum-safe features available today for FortiGate NGFW and Fortinet Secure SD-WAN customers, so they can confidently transition to post-quantum security.”

    Organizations Handling Sensitive Information Need Quantum-Safe Encryption Now
    Quantum computers can perform complex calculations at unprecedented speeds and can easily break current encryption standards. Cybercriminals are already storing encrypted traffic to decrypt in the future, with a particular focus on industries that handle highly sensitive data that remains relevant over long periods, such as telecommunications, financial services, government, and healthcare.

    • FortiOS: ready for the post-quantum world
      With FortiOS 7.6, organizations, such as those using FortiGate next-generation firewall (NGFW) and Fortinet Secure SD-WAN, can now leverage built-in quantum-safe features designed to defend against emerging threats, including harvest-now, decrypt-later (HNDL) attacks. These capabilities help secure network traffic, simplify deployment, and support a smooth transition to post-quantum security. Customers have access to the following quantum-safe features at no additional cost: Post-quantum cryptography (PQC) methods, including National Institute of Standards and Technology (NIST)-approved algorithms like ML-KEM and emerging algorithms like BIKE, HQC, and Frodo.
    • Quantum key distribution (QKD), leveraging quantum mechanics to enable the secure exchange of encryption keys, ensures that any eavesdropping attempts are detectable. Fortinet introduced support for QKD integrations starting with FortiOS 7.4, enabling interoperability with leading QKD vendors via standardized interfaces. This capability underscores Fortinet’s proactive approach to quantum-resilient network security by integrating quantum-safe key exchange mechanisms into its NGFW architecture.
    • Algorithm stacking, which combines multiple cryptographic algorithms to create a more resilient solution and enhance network infrastructure security.
    • A hybrid mode for gradual transition to post-quantum security that enables seamless integration of traditional public-key cryptography and QKD.
    • An enhanced user interface that simplifies the configuration and management of quantum-safe settings so that network administrators can implement quantum-safe security easily.

    Proven Innovation You Can Trust
    Fortinet was founded on the principle of converging networking and security through a single operating system. This unique approach enables Fortinet to deploy cutting-edge updates, such as quantum-safe innovations, across its unified operating system, helping customers future-proof their security postures.

    Additional Resources

    About Fortinet
    Fortinet (Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams (“CERTS”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.

    Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

    The MIL Network

  • MIL-OSI: Cequence Security Launches AI Gateway, Safely Enabling Enterprises to Realize the Promise of Agentic AI Productivity

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Cequence Security, a pioneer in application security, today unveiled the Cequence AI Gateway, a powerful new solution enabling enterprises to take full advantage of the productivity gains promised by agentic AI. Bridging the gap between AI agents and enterprise applications, the AI Gateway enables instant connectivity with the guardrails enterprises need to stay in control.

    Enterprises, eager to embrace the power of artificial intelligence (AI), have lacked the tools needed to do so safely and efficiently at scale. For CISOs and security-first engineering leaders, the rush to expose applications to agentic AI is outpacing guardrails such as those outlined by the EU AI Act and Anthropic’s ASL. CIOs are understandably concerned about the opportunity cost incurred by having to up-skill needed developers. At the same time, they want a solution that accelerates ROI by avoiding insecure, one-off prototypes in favor of a scalable, enterprise-grade solution.

    Cequence AI Gateway is that missing layer, instantly connecting AI agents to enterprise applications and APIs using emerging standards like the Model Context Protocol (MCP) while enforcing real-time policies that prevent abuse, protect data, and ensure AI acts within bounds.

    “The race to adopt agentic AI in enterprises is well underway, but the foundation to support it is immature,” said Ameya Talwalkar, CEO and co-founder of Cequence Security. “This has left organizations backed into a corner, connecting AI agents to critical systems without sufficient security, oversight, or context. With the combination of our Unified API Protection platform and the new AI Gateway, Cequence delivers both sides of the equation: open, seamless access for AI agents, and the enterprise-grade security, governance, and visibility that leaders need to trust this next wave of automation.”

    The Cequence AI Gateway Advantage:

    • Your AI Easy Button – AI Gateway converts any API into an MCP-compatible endpoint, enabling agentic AI access to any internal, external, or SaaS application in minutes, without coding. Avoids time and costs associated with up-skilling, coding, QA, integration, hosting, and ongoing management. No need to update your solution when new protocol versions emerge, as the AI Gateway handles this for you.
    • End-to-End Authentication and Authorization – OAuth 2.0 IdP support ensures appropriate identity-based access to systems and data, preventing unauthorized AI agent access. Existing solutions lack seamless integration with enterprise IdPs.
    • Monitoring and Visibility of AI Interactions – Real-time visibility into AI-API traffic with full audit logging enables detailed tracking of agent and user behavior, what applications are being accessed, and which API calls are being made via agents.
    • Enterprise-Ready – Unlike alternatives, Cequence is designed for the enterprise, offering a SaaS solution with continuous environment monitoring and discrete pre-prod/prod modes. Integrates with existing infrastructure without disruption.

    Today, the Cequence Unified API Protection (UAP) platform is used by a broad spectrum of the world’s largest organizations to monitor and secure their applications and APIs. The combination of AI Gateway and UAP allows Cequence customers to stop agent-fueled attacks, fraud, and abuse such as the high-profile incidents recently publicized in the news.

    “Cequence doesn’t just secure applications and APIs. They enable entirely new business models, said Amir Sarhangi, CEO and co-founder of Skyfire. “The AI Gateway is critical infrastructure that brings agentic AI into the real world by making secure, compliant access to enterprise APIs scalable and seamless. Cequence is a trusted partner because they know how to protect real time interactions without slowing innovation. Together, we’re helping organizations move forward with confidence.”

    Early adopters have been quick to recognize AI Gateway value. “We were trying to enable a complex, customer-facing agentic application experience, a process we thought would take months,” said an early enterprise customer. “With Cequence AI Gateway, we went from ‘stalled’ to ‘operational’ in under 48 hours. Now, customers can ask natural language questions and get real-time answers, reducing costly support interactions. It solves a real business problem faster and more safely than we thought possible.”

    “This launch is a natural evolution of our Unified API Protection platform,” said Shreyans Mehta, CTO and co-founder at Cequence Security. “We’ve engineered the AI Gateway to transform any application or API into an MCP-compatible endpoint, with real-time enforcement policies baked in. It’s built to meet developers where they are, while giving security teams the control they need. It’s not just about enabling agentic AI; it’s about enabling it responsibly at scale.”

    Mehta added: “Building this requires deep knowledge of how APIs are structured, used, and abused at scale. That’s why Cequence is uniquely positioned to enable the next generation of intelligence automation responsibly.”

    Enabling agentic AI starts at the API layer, and that’s where Cequence leads. Cequence was built to solve difficult API security challenges in real time, at scale. While others are still trying to figure out how to safely expose APIs to agentic AI, Cequence brings years of enterprise experience to a problem that demands security-first thinking.

    It’s designed by the same team that protects over 10 billion API interactions daily, and is built to handle the performance, governance, and authentication challenges unique to this new era of AI automation.

    Availability

    • Cequence AI Gateway: August 2025
    • Deployment formats: SaaS and Helm chart

    Additional Resources

    About Cequence Security
    Cequence is a pioneer in API security and bot management, making the applications and APIs that organizations depend on AI-ready while protecting them from attacks, business logic abuse, and fraud. Our unique solutions unlock the promise of agentic AI productivity while providing real-time security against increasingly subtle and sophisticated threats. Cequence delivers value in minutes rather than days or weeks with a highly scalable, no-code, no-risk approach. Trusted by the largest and most demanding private and public sector organizations, Cequence protects more than 10 billion daily API interactions and 4 billion user accounts. To learn more, visit www.cequence.ai.

    Media Contact
    Katrina Porter
    press@cequence.ai

    The MIL Network

  • MIL-OSI Australia: City of Wanneroo adopts 2025/26 budget

    Source: South Australia Police

    The City of Wanneroo has adopted its 2025/26 budget, prioritising a range of services and facilities to keep our community connected, safe and sustainable.

    Council adopted a 3.5 per cent rate increase across all rating categories, and a 3 per cent increase for residential ratepayers which amounts to less than $1 per week for most homeowners.

    Mayor Linda Aitken said the $353.4 million budget included a $132.6 million capital works program and investment in a range of community services and facilities to benefit all residents.

    “We are committed to providing the programs, services, facilities and infrastructure our community needs and expects, while remaining mindful of the cost-of-living challenges people are facing,” she said.

    “As one of Australia’s fastest-growing local government areas, we have a duty to ensure value for money for our ratepayers. Half of this year’s budget is funded from sources beyond rates, thanks to strong partnerships and a strategic focus on alternative revenue streams.”

    “The City looks forward to delivering on this budget and continuing to build a thriving, inclusive and sustainable City for the generations to come.”

    2025/26 capital works program highlights

    Community recreation and facilities

    Over the next 12 months, the City will spend $60.9 million on upgrades to existing sporting facilities and the construction of new facilities to ensure local families and sporting clubs can stay healthy, active and connected.

    This includes $48.9 million to progress the construction of the Alkimos Aquatic and Recreation Centre.

    A $1.3 million investment will progress the design of a new sports hub for the Wanneroo Recreation Centre, a further $470,000 will progress a new amenities building at Abbeville Park in Mindarie, and $230,000 for an extension to the existing Wanneroo Showgrounds Clubrooms.

    Construction of the highly anticipated Dordaak Kepup library and youth innovation hub is scheduled for completion, with the $18 million Landsdale facility set to open its doors in December 2025.

    $1.6 million will support upgrades to Gumblossom Community Centre in Quinns Rocks, Yanchep Community Centre, Carramar Community and Butler Community Centre.

    An additional $1 million will support the Girrawheen Hub Redevelopment project.

    Waste management

    We’ve allocated $4.4 million to support more sustainable and efficient waste management processes. Funding will progress the development of a recycling centre in Neerabup and waste transfer stations in Neerabup and Wangara.

    Community safety

    We’re investing $3.7 million to community safety measures this year, including $1.6 million to upgrade the Two Rocks Bush Fire Brigade.

    We’ll also spend $1.6 million to commence detailed design for the Wanneroo Emergency Services Precinct, to ensure the City is better prepared for bushfires and other emergencies.

    Parks, playgrounds and pathways

    We’re committing $6.7 million towards park and playground upgrades, to ensure the community can enjoy our City’s natural environment. This work will include replacing playground equipment, shade structures, picnic shelters, barbecues and drink fountains.

    A $515,000 investment will provide new play spaces at Rotary Park, and $320,000 will complete the construction of new toilet facilities at Amery Park in Hocking.

    We’ve allocated $6.7 million to new and upgraded pathways and trails across the City, including new shared paths in Alexander Heights and from Butler to Alkimos Station.

    A further $815,000 will provide pathway lighting at Kingsbridge, Chesterfield, Brampton, Lighthouse and Delamere parks.

    Local roads

    With a focus on creating a safe and connected City, we’ve allocated $18.2 million this year to road upgrades and traffic treatments.

    This includes $4.8 million for Flynn Drive upgrades between Mather Drive and Old Yanchep Road.

    We’re also spending $1.3 million on upgrades to the intersection of Marangaroo Drive and Girrawheen Avenue, and $750,000 on the construction of a dual carriageway between Marmion Avenue to Spinnaker Boulevard on Yanchep Beach Road.

    In additional to the budget, the City is launching a new online payment portal this August, providing residents with a more flexible and user-friendly way to manage their rates.

    The portal offers a variety of automated payment options, such as weekly, fortnightly or monthly direct debit payments, depending on what suits your budget.

    For more information on the City’s 2025/26 budget and or the online payment portal, visit wanneroo.wa.gov.au/budget.

    Please note, some figures have been rounded to nearest decimal whole number.

     

    MIL OSI News

  • MIL-OSI China: Latest UAVs, Counter-UAVs Showcased in China 2025-07-22 18:33:55 On Monday, the theme day event on unmanned and counter-unmanned land combat systems in the military trade market held by the China North Industries Group (Norinco Group) kicked off in north China’s Inner Mongolia Autonomous Region.

    Source: People’s Republic of China – Ministry of National Defense

      BEIJING, July 22 — On Monday, the theme day event on unmanned and counter-unmanned land combat systems in the military trade market held by the China North Industries Group (Norinco Group) kicked off in north China’s Inner Mongolia Autonomous Region. The latest equipment such as unmanned aerial vehicles (UAVs), loitering munitions, and counter-UAVs were all showcased.

      The theme day event was divided into dynamic performance and static display. The dynamic part displayed aerial “offensive and defensive” operations such as reconnaissance, informed planning, penetration and attack, etc.

      The exhibition area displayed unmanned and counter-unmanned equipment including UAVs, airborne munitions, loitering munitions. In addition, the wheeled gunnery with an unmanned turret that can automatically load and fire, the tank with an onboard UAV system and a radio jamming system, were also showcased.

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    MIL OSI China News

  • MIL-OSI United Kingdom: £1m investment to turn Portsmouth into a nature positive city

    Source: City of Portsmouth

    Nearly £1m of extra investment will help reinforce Portsmouth as a nature positive city.

    Portsmouth City Council has been awarded Nature Towns and Cities funding after a successful bid to the National Lottery Heritage Fund.

    The £895,818 will be spent on transforming the city’s green infrastructure over three years for the benefit of residents and nature, paving the way for Portsmouth to become an officially recognised Nature City. It will also be used to leverage in external funding for the city.

    Cllr Kimberly Barrett, Portsmouth City Council Cabinet Member for Climate Change and Greening the City, said:

    “As we approach 2026, Portsmouth’s Centenary Year, this funding will help us understand how we can work with residents and communities to achieve our  bold ambition to make Portsmouth a nature positive city, where the benefits of nature can be enjoyed and support the health and wellbeing of residents.

    “We can only achieve this by working in partnership, and the council is delighted to be working with Southern Water, Hampshire and Isle of Wight Wildlife Trust, Historic England and Shaping Portsmouth. We know facing the environmental challenges of the future requires strong collaboration.”

    Because Portsmouth is a densely populated city, it means its vital green spaces are fragmented by roads and buildings. The funding will help connect these spaces by identifying opportunities for new green infrastructure such as rain gardens and trees, creating corridors for wildlife to travel between.

    The funding will build on recommendations from a developing Urban Forest Master Plan and enable the council to work with residents, landowners and others across the city to develop a resilient treescape with diverse species resistant to a changing climate and pests and disease. This will help in the fight against climate change, by creating shade and cooling because trees release water vapour, and absorb rain water.

    By working with local environmental groups, charities, communities and businesses the council will develop a shared understanding of how to become a well-adapted Portsmouth, resilient to the increasing climate hazards already being faced, whether heatwaves or intense rainfall bringing surface water flooding. Working in key areas of the city will drive investment for green infrastructure into places where it is needed most, therefore addressing inequalities.

    Community groups will be supported through small grants, training and mentoring. Businesses will also be encouraged to participate in the project accessing support and advice.

    The ambitious and transformative project will start in October 2025 when further details will be available.

    Residents are also encouraged to help young trees thrive in the current heatwaves by watering those close to where they live or work.

    MIL OSI United Kingdom

  • MIL-OSI Russia: Rain, thunderstorms and strong winds: worsening weather expected in the capital

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    According to weather forecasters, rain and thunderstorms are expected in Moscow on July 22. Wind gusts may reach 15 meters per second.

    In bad weather, city residents are asked to be especially careful on the street, not to take shelter under trees and not to park cars near them.

    The project has been opened on the portal “Our City” “Safe Summer”, with the help of which Muscovites can report about unreliably fixed advertising structures and road signs, broken or leaning trees, as well as other potentially dangerous situations. This will allow to quickly and effectively help services to minimize the consequences of bad weather, to protect the lives, health and property of city residents.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-OSI: Capital City Bank Group, Inc. Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., July 22, 2025 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of $15.0 million, or $0.88 per diluted share, for the second quarter of 2025 compared to $16.9 million, or $0.99 per diluted share, for the first quarter of 2025, and $14.2 million, or $0.83 per diluted share, for the second quarter of 2024.

    QUARTER HIGHLIGHTS (2ndQuarter 2025 versus 1stQuarter 2025)

    Income Statement

    • Tax-equivalent net interest income totaled $43.2 million compared to $41.6 million for the first quarter of 2025
      • Net interest margin increased eight basis points to 4.30% (earning asset yield increased by six basis points and cost of funds decreased two basis points to 82 basis points)
    • Provision for credit losses decreased by $0.1 million to $0.6 million for the second quarter – net loan charge-offs were comparable to the first quarter of 2025 at nine basis points (annualized) of average loans – allowance coverage ratio increased to 1.13% at June 30, 2025
    • Noninterest income increased by $0.1 million, or 0.5%, reflecting higher deposit and bankcard fees as well as mortgage fees partially offset by lower wealth management fees
    • Noninterest expense increased by $3.8 million, or 9.9%, primarily due to a $3.9 million net gain from the sale of our operations center building (reflected in other expense) in the first quarter of 2025

    Balance Sheet

    • Loan balances decreased by $13.3 million, or 0.5% (average), and decreased by $29.3 million, or 1.1% (end of period)
    • Deposit balances increased by $15.2 million, or 0.4% (average), and decreased by $79.0 million, or 2.1% (end of period) due to the seasonal decrease in our public fund balances
      • Noninterest bearing deposits averaged 36.5% of total deposits for the second quarter and 36.2% for the year
    • Tangible book value per diluted share (non-GAAP financial measure) increased by $0.78, or 3.2%

    “Capital City delivered another strong quarter, highlighted by sustained revenue growth and continued credit strength,” said William G. Smith, Jr, Capital City Bank Group Chairman and CEO. “Our second quarter results reflect a 3.9% increase in net interest income and an 8 basis point expansion in the net interest margin to 4.30%. Tangible book value per share increased by 3.2%, and we further strengthened our capital position, with our tangible capital ratio increasing to 10.1%. We remain focused on executing strategies that drive consistent, profitable growth, supported by a fortress balance sheet that provides resilience and strategic flexibility.”                          

    Discussion of Operating Results

    Net Interest Income/Net Interest Margin

    Tax-equivalent net interest income for the second quarter of 2025 totaled $43.2 million compared to $41.6 million for the first quarter of 2025 and $39.3 million for the second quarter of 2024. Compared to the first quarter of 2025, the increase was driven by a $0.9 million increase in investment securities income and a $0.4 million increase in overnight funds income. One additional calendar day in the second quarter of 2025 contributed to the increase. Compared to the second quarter of 2024, the increase was primarily due to a $2.7 million increase in investment securities income and a $1.2 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income for both prior period comparisons. Further, the decrease in deposit interest expense from the prior year period reflected the gradual decrease in our deposit rates, as short term rates began declining in the second half of 2024.

    For the first six months of 2025, tax-equivalent net interest income totaled $84.8 million compared to $77.8 million for the same period of 2024 with the increase primarily attributable to a $4.2 million increase in investment securities income, a $1.9 million increase in overnight funds income, and a $1.4 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income. Higher average deposit balances contributed to the increase in overnight funds income. The decrease in deposit interest expense reflected the aforementioned decrease in our deposit rates.

    Our net interest margin for the second quarter of 2025 was 4.30%, an increase of eight basis points over the first quarter of 2025 and an increase of 28 basis points over the second quarter of 2024. For the month of June 2025, our net interest margin was 4.36%. For the first six months of 2025, our net interest margin increased by 25 basis points to 4.26% compared to the same period of 2024. The increase in net interest margin over all prior periods reflected a higher yield in the investment portfolio driven by new purchases at higher yields. Lower deposit cost also contributed to the improvement over both prior year periods. For the second quarter of 2025, our cost of funds was 82 basis points, a decrease of two basis points from the first quarter of 2025 and a 15-basis point decrease from the second quarter of 2024. Our cost of deposits (including noninterest bearing accounts) was 81 basis points, 82 basis points, and 95 basis points, respectively, for the same periods.

    Provision for Credit Losses

    We recorded a provision expense for credit losses of $0.6 million for the second quarter of 2025 compared to $0.8 million for the first quarter of 2025 and $1.2 million for the second quarter of 2024. For the first six months of 2025, we recorded a provision expense for credit losses of $1.4 million compared to $2.1 million for the first six months of 2024. Activity within the components of the provision (loans held for investment (“HFI”) and unfunded loan commitments) for each reported period is provided in the table on page 14. We discuss the various factors that impacted our provision expense for Loans HFI in further detail below under the heading Allowance for Credit Losses.

    Noninterest Income and Noninterest Expense

    Noninterest income for the second quarter of 2025 totaled $20.0 million compared to $19.9 million for the first quarter of 2025 and $19.6 million for the second quarter of 2024. The $0.1 million, or 0.5%, increase over the first quarter of 2025 was primarily due to a $0.4 million increase in mortgage banking revenues and a $0.3 million increase in deposit fees, partially offset by a $0.6 million decrease in wealth management fees. The increase in mortgage revenues was driven by an increase in production volume. Fee adjustments made late in the second quarter of 2025 led to the increase in deposit fees. The decrease in wealth management fees was attributable to a decrease in insurance commission revenue. Compared to the second quarter of 2024, the $0.4 million, or 2.1%, increase was primarily due to a $0.8 million increase in wealth management fees, partially offset by a $0.2 million decrease in mortgage banking revenues and a $0.1 million decrease in other income. The increase in wealth management fees reflected a $0.5 million increase in trust fees and a $0.4 million increase in retail brokerage fees, partially offset by a $0.1 million decrease in insurance commission revenue. A combination of new business, higher account valuations, and fee increases implemented in early 2025 drove the improvement in trust and retail brokerage fees.

    For the first six months of 2025, noninterest income totaled $39.9 million compared to $37.7 million for the same period of 2024, primarily attributable to a $1.8 million increase in wealth management fees and a $0.7 million increase in mortgage banking revenues that was partially offset by a $0.2 million decrease in deposit fees. The increase in wealth management fees reflected increases in retail brokerage fees of $1.0 million, trust fees of $0.7 million, and insurance commission revenue of $0.1 million. The increases in retail brokerage and trust fees were attributable to a combination of new business, higher account valuations, and fee increases implemented in early 2025. The increase in mortgage banking revenues was due to a higher gain on sale margin.   

    Noninterest expense for the second quarter of 2025 totaled $42.5 million compared to $38.7 million for the first quarter of 2025 and $40.4 million for the second quarter of 2024. The $3.8 million, or 9.9%, increase over the first quarter of 2025, reflected a $3.3 million increase in other expense, a $0.3 million increase in occupancy expense, and a $0.2 million increase in compensation expense. The increase in other expense was driven by a $4.5 million increase in other real estate expense which reflected lower gains from the sale of banking facilities, primarily the sale of our operations center building in the first quarter of 2025, partially offset by a $0.5 million decrease in charitable contribution expense and a $0.6 million decrease in miscellaneous expense. The slight increase in occupancy expense was due to higher software maintenance agreement expense and maintenance/repairs for buildings and furniture/fixtures. The slight increase in compensation expense reflected a $0.1 million increase in salary expense and a $0.1 million increase in associate benefit expense.   Compared to the second quarter of 2024, the $2.1 million, or 5.2%, increase was primarily due to a $2.1 million increase in compensation expense which reflected a $1.3 million increase in salary expense and a $0.8 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $0.9 million and base salaries of $0.4 million (merit based). The increase in associate benefit expense was attributable to a $0.6 million increase in associate insurance expense and a $0.2 million increase in stock compensation expense.

    For the first six months of 2025, noninterest expense totaled $81.2 million compared to $80.6 million for the same period of 2024 with the $0.6 million, or 0.8%, increase due to a $3.9 million increase in compensation expense that was partially offset by a $3.2 million decrease in other expense and a $0.1 million decrease in occupancy expense. The increase in compensation was due to a $2.5 million increase in salary expense and a $1.4 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $1.2 million, base salaries of $0.9 million (merit based), and commissions of $0.7 million (retail brokerage and mortgage). The increase in associate benefit expense was attributable to a higher cost for associate insurance. The decrease in other expense was primarily due to a $4.5 million decrease in other real estate expense due to lower gains from the sale of banking facilities, and a $1.0 million decrease in miscellaneous expense (non-service component of pension expense), partially offset by increases in processing expense of $1.1 million (outsource of core processing system), charitable contribution expense of $0.7 million, and professional fees of $0.5 million.

    Income Taxes

    We realized income tax expense of $5.0 million (effective rate of 24.9%) for the second quarter of 2025 compared to $5.1 million (effective rate of 23.3%) for the first quarter of 2025 and $3.2 million (effective rate of 18.5%) for the second quarter of 2024. For the first six months of 2025, we realized income tax expense of $10.1 million (effective rate of 24.1%) compared to $6.7 million (effective rate of 20.6%) for the same period of 2024. A lower level of tax benefit accrued from a solar tax credit equity fund drove the increase in our effective tax rate for all prior period comparisons. Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 24% for 2025.

    Discussion of Financial Condition

    Earning Assets

    Average earning assets totaled $4.032 billion for the second quarter of 2025, an increase of $38.1 million, or 1.0%, over the first quarter of 2025, and an increase of $110.1 million, or 2.8%, over the fourth quarter of 2024. The increase over both prior periods was driven by higher average deposit balances (see below – Deposits). Compared to the first quarter of 2025, the change in the earning asset mix reflected a $27.8 million increase in overnight funds and a $25.7 million increase in investment securities that was partially offset by a $13.3 million decrease in loans HFI and a $2.1 million decrease in loans held for sale (“HFS”). Compared to the fourth quarter of 2024, the change in the earning asset mix reflected a $92.8 million increase in investment securities and a $50.5 million increase in overnight funds sold partially offset by a $24.8 million decrease in loans HFI and a $8.4 million decrease in loans HFS.

    Average loans HFI decreased by $13.3 million, or 0.5%, from the first quarter of 2025 and decreased by $24.8 million, or 0.9%, from the fourth quarter of 2024. Compared to the first quarter of 2025, the decrease was due to decreases in construction loans of $24.6 million, consumer loans (primarily indirect auto) of $1.9 million, and commercial loans of $3.4 million, partially offset by increases to residential real estate loans of $10.2 million, commercial real estate loans of $2.1 million, and home equity loans of $4.1 million. Compared to the fourth quarter of 2024, the decline was primarily attributable to decreases in construction loans of $33.2 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $4.0 million, partially offset by increases in home equity loans of $10.8 million, residential real estate loans of $9.9 million, and commercial real estate loans of $1.9 million.

    Loans HFI at June 30, 2025 decreased by $29.3 million, or 1.1%, from March 31, 2025 and decreased by $20.1 million, or 0.8%, from December 31, 2024. Compared to the first quarter of 2025, the decline was primarily due to decreases in construction loans of $18.2 million, consumer loans (primarily indirect auto) of $8.7 million, commercial loans of $4.4 million, and commercial real estate loans of $4.4 million, partially offset by increases in residential real estate loans of $5.8 million and home equity loans of $2.2 million. Compared to December 31, 2024, the decrease was primarily attributable to decreases in construction loans of $45.9 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $2.0 million, partially offset by increases in commercial real estate loans of $23.4 million, residential real estate loans of $17.9 million, and home equity loans of $8.1 million.

    Allowance for Credit Losses

    At June 30, 2025, the allowance for credit losses for loans HFI totaled $29.9 million compared to $29.7 million at March 31, 2025 and $29.3 million at December 31, 2024. Activity within the allowance is provided on Page 14. The slight increase in the allowance over March 31, 2025 and December 31, 2024 was primarily attributable to qualitative factor adjustments that were partially offset by lower loan balances. Net loan charge-offs for both the second quarter of 2025 and the first quarter of 2025 were comparable at nine basis points of average loans. At June 30, 2025, the allowance represented 1.13% of loans HFI compared to 1.12% at March 31, 2025, and 1.10% at December 31, 2024.

    Credit Quality

    Nonperforming assets (nonaccrual loans and other real estate) totaled $6.6 million at June 30, 2025 compared to $4.4 million at March 31, 2025 and $6.7 million at December 31, 2024. At June 30, 2025, nonperforming assets as a percentage of total assets was 0.15%, compared to 0.10% at March 31, 2025 and 0.15% at December 31, 2024. Nonaccrual loans totaled $6.4 million at June 30, 2025, a $2.2 million increase over March 31, 2025 and a $0.1 million increase over December 31, 2024 with the increase over the first quarter of 2025 primarily attributable to two home equity loans totaling $1.8 million. Classified loans totaled $28.6 million at June 30, 2025, a $9.4 million increase over March 31, 2025 and a $8.7 million increase over December 31, 2024. The increase over the prior periods was primarily due to the downgrade of four residential real estate loans totaling $4.2 million and two commercial real estate loans totaling $4.3 million.

    Deposits

    Average total deposits were $3.681 billion for the second quarter of 2025, an increase of $15.2 million, or 0.4%, over the first quarter of 2025 and an increase of $80.3 million, or 2.2%, over the fourth quarter of 2024.   Compared to the first quarter of 2025, the increase was attributable to higher core deposit balances (primarily noninterest bearing checking and money market), partially offset by a decline in public funds balances (primarily NOW accounts) due to the seasonal reduction in those balances. The increase over the fourth quarter of 2024 reflected strong growth in core deposit balances and a seasonal increase in public funds balances (primarily NOW) which are received/deposited by those clients starting in December and peak on average in the first quarter.

    At June 30, 2025, total deposits were $3.705 billion, a decrease of $79.0 million, or 2.1%, from March 31, 2025, and an increase of $32.9 million, or 0.9%, over December 31, 2024. The decrease from March 31, 2025 was primarily due to a seasonal decline in public funds balances, (primarily money market and noninterest bearing). The increase over December 31, 2024 reflected higher core deposit balances, primarily noninterest bearing accounts. Public funds totaled $596.6 million at June 30, 2025, $648.0 million at March 31, 2025, and $660.9 million at December 31, 2024.

    Liquidity

    We maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold less FED funds purchased) sold position of $348.8 million in the second quarter of 2025 compared to $320.9 million in the first quarter of 2025 and $298.3 million in the fourth quarter of 2024. Compared to both prior periods, the increase reflected higher average deposits and lower average loans.

    At June 30, 2025, we had the ability to generate approximately $1.603 billion (excludes overnight funds position of $395 million) in additional liquidity through various sources including various federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits.

    We also view our investment portfolio as a liquidity source, as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits and/or to sell selected securities in our portfolio. Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities. At June 30, 2025, the weighted-average maturity and duration of our portfolio were 2.66 years and 2.14 years, respectively, and the available-for-sale portfolio had a net unrealized after-tax loss of $13.4 million.

    Capital

    Shareowners’ equity was $526.4 million at June 30, 2025 compared to $512.6 million at March 31, 2025 and $495.3 million at December 31, 2024. For the first six months of 2025, shareowners’ equity was positively impacted by net income attributable to shareowners of $31.9 million, a net $5.5 million decrease in the accumulated other comprehensive loss, the issuance of common stock of $2.8 million, and stock compensation accretion of $0.9 million. The net favorable change in accumulated other comprehensive loss reflected a $6.4 million decrease in the investment securities loss that was partially offset by a $0.9 million decrease in the fair value of the interest rate swap related to subordinated debt. Shareowners’ equity was reduced by common stock dividends of $8.2 million ($0.48 per share) and net adjustments totaling $1.8 million related to transactions under our stock compensation plans.

    At June 30, 2025, our total risk-based capital ratio was 19.60% compared to 19.20% at March 31, 2025 and 18.64% at December 31, 2024. Our common equity tier 1 capital ratio was 16.81%, 16.08%, and 15.54%, respectively, on these dates. Our leverage ratio was 11.14%, 11.17%, and 11.05%, respectively, on these dates. At June 30, 2025, all our regulatory capital ratios exceeded the thresholds to be designated as “well-capitalized” under the Basel III capital standards. Further, our tangible common equity ratio (non-GAAP financial measure) was 10.09% at June 30, 2025 compared to 9.61% and 9.51% at March 31, 2025 and December 31, 2024, respectively. If the unrealized loss for held-to-maturity securities of $9.9 million (after-tax) was recognized in accumulated other comprehensive loss, our adjusted tangible capital ratio would be 9.86%.

    About Capital City Bank Group, Inc.

    Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.4 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services, and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 107 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit https://www.ccbg.com/.

    FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,” “goal,” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause our actual results to differ: the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations; local, regional, national, and international economic conditions and the impact they may have on us and our clients and our assessment of that impact; the costs and effects of legal and regulatory developments, the outcomes of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as other accounting standard setters; the accuracy of our financial statement estimates and assumptions; changes in the financial performance and/or condition of our borrowers; changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs; changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our liquidity position; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing, and saving habits; greater than expected costs or difficulties related to the integration of new products and lines of business; technological changes; the costs and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers; acquisitions and integration of acquired businesses; impairment of our goodwill or other intangible assets; changes in the reliability of our vendors, internal control systems, or information systems; our ability to increase market share and control expenses; our ability to attract and retain qualified employees; changes in our organization, compensation, and benefit plans; the soundness of other financial institutions; volatility and disruption in national and international financial and commodity markets; changes in the competitive environment in our markets and among banking organizations and other financial service providers; government intervention in the U.S. financial system; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict, terrorism, civil unrest, climate change or other geopolitical events; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control; negative publicity and the impact on our reputation; and the limited trading activity and concentration of ownership of our common stock. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and our other filings with the SEC, which are available at the SEC’s internet site (https://www.sec.gov). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ, except as may be required by law.

    For Information Contact:
    Jep Larkin
    Executive Vice President and Chief Financial Officer
    850.402.8450

    USE OF NON-GAAP FINANCIAL MEASURES
    Unaudited

    We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because they allow investors to more easily compare our capital adequacy to other companies in the industry. Non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently.

    The GAAP to non-GAAP reconciliations are provided below.

    (Dollars in Thousands, except per share data) Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024
    Shareowners’ Equity (GAAP)   $ 526,423 $ 512,575 $ 495,317   476,499 $ 460,999
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Shareowners’ Equity (non-GAAP) A   433,730   419,842   402,544   383,686   368,146
    Total Assets (GAAP)     4,391,753   4,461,233   4,324,932   4,225,316   4,225,695
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Assets (non-GAAP) B $ 4,299,060 $ 4,368,500 $ 4,232,159   4,132,503 $ 4,132,842
    Tangible Common Equity Ratio (non-GAAP) A/B   10.09%   9.61%   9.51%   9.28%   8.91%
    Actual Diluted Shares Outstanding (GAAP) C   17,097,986   17,072,330   17,018,122   16,980,686   16,970,228
    Tangible Book Value per Diluted Share (non-GAAP) A/C $ 25.37 $ 24.59 $ 23.65   22.60 $ 21.69
     
    CAPITAL CITY BANK GROUP, INC.                      
    EARNINGS HIGHLIGHTS                      
    Unaudited                      
                           
        Three Months Ended   Six Months Ended  
    (Dollars in thousands, except per share data)   Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024  
    EARNINGS                      
    Net Income Attributable to Common Shareowners $ 15,044 $ 16,858 $ 14,150 $ 31,902 $ 26,707  
    Diluted Net Income Per Share $ 0.88 $ 0.99 $ 0.83 $ 1.87 $ 1.57  
    PERFORMANCE                      
    Return on Average Assets (annualized)   1.38 % 1.58 % 1.33 % 1.48 % 1.27 %
    Return on Average Equity (annualized)   11.44   13.32   12.23   12.36   11.66  
    Net Interest Margin   4.30   4.22   4.02   4.26   4.01  
    Noninterest Income as % of Operating Revenue   31.67   32.39   33.30   32.03   32.69  
    Efficiency Ratio   67.26 % 62.93 % 68.61 % 65.13 % 69.81 %
    CAPITAL ADEQUACY                      
    Tier 1 Capital   18.38 % 18.01 % 16.31 % 18.38 % 16.31 %
    Total Capital   19.60   19.20   17.50   19.60   17.50  
    Leverage   11.14   11.17   10.51   11.14   10.51  
    Common Equity Tier 1   16.81   16.08   14.44   16.81   14.44  
    Tangible Common Equity(1)   10.09   9.61   8.91   10.09   8.91  
    Equity to Assets   11.99 % 11.49 % 10.91 % 11.99 % 10.91 %
    ASSET QUALITY                      
    Allowance as % of Non-Performing Loans   463.01 % 692.10 % 529.79 % 463.01 % 529.79 %
    Allowance as a % of Loans HFI   1.13   1.12   1.09   1.13   1.09  
    Net Charge-Offs as % of Average Loans HFI   0.09   0.09   0.18   0.09   0.20  
    Nonperforming Assets as % of Loans HFI and OREO   0.25   0.17   0.23   0.25   0.23  
    Nonperforming Assets as % of Total Assets   0.15 % 0.10 % 0.15 % 0.15 % 0.15 %
    STOCK PERFORMANCE                      
    High $ 39.82 $ 38.27 $ 28.58 $ 39.82 $ 31.34  
    Low   32.38   33.00   25.45   32.38   25.45  
    Close $ 39.35 $ 35.96 $ 28.44 $ 39.35 $ 28.44  
    Average Daily Trading Volume   27,397   24,486   29,861   25,988   30,433  
                           
    (1)Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.        
     
    CAPITAL CITY BANK GROUP, INC.                    
    CONSOLIDATED STATEMENT OF FINANCIAL CONDITION            
    Unaudited                    
                         
      2025   2024
    (Dollars in thousands) Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter
    ASSETS                    
    Cash and Due From Banks $ 78,485   $ 78,521   $ 70,543   $ 83,431   $ 75,304  
    Funds Sold and Interest Bearing Deposits   394,917     446,042     321,311     261,779     272,675  
    Total Cash and Cash Equivalents   473,402     524,563     391,854     345,210     347,979  
                         
    Investment Securities Available for Sale   533,457     461,224     403,345     336,187     310,941  
    Investment Securities Held to Maturity   462,599     517,176     567,155     561,480     582,984  
    Other Equity Securities   3,242     2,315     2,399     6,976     2,537  
    Total Investment Securities   999,298     980,715     972,899     904,643     896,462  
                         
    Loans Held for Sale (“HFS”):   19,181     21,441     28,672     31,251     24,022  
                         
    Loans Held for Investment (“HFI”):                    
    Commercial, Financial, & Agricultural   180,008     184,393     189,208     194,625     204,990  
    Real Estate – Construction   174,115     192,282     219,994     218,899     200,754  
    Real Estate – Commercial   802,504     806,942     779,095     819,955     823,122  
    Real Estate – Residential   1,046,368     1,040,594     1,028,498     1,023,485     1,012,541  
    Real Estate – Home Equity   228,201     225,987     220,064     210,988     211,126  
    Consumer   197,483     206,191     199,479     213,305     234,212  
    Other Loans   1,552     3,227     14,006     461     2,286  
    Overdrafts   1,259     1,154     1,206     1,378     1,192  
    Total Loans Held for Investment   2,631,490     2,660,770     2,651,550     2,683,096     2,690,223  
    Allowance for Credit Losses   (29,862 )   (29,734 )   (29,251 )   (29,836 )   (29,219 )
    Loans Held for Investment, Net   2,601,628     2,631,036     2,622,299     2,653,260     2,661,004  
                         
    Premises and Equipment, Net   79,906     80,043     81,952     81,876     81,414  
    Goodwill and Other Intangibles   92,693     92,733     92,773     92,813     92,853  
    Other Real Estate Owned   132     132     367     650     650  
    Other Assets   125,513     130,570     134,116     115,613     121,311  
    Total Other Assets   298,244     303,478     309,208     290,952     296,228  
    Total Assets $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    LIABILITIES                    
    Deposits:                    
    Noninterest Bearing Deposits $ 1,332,080   $ 1,363,739   $ 1,306,254   $ 1,330,715   $ 1,343,606  
    NOW Accounts   1,284,137     1,292,654     1,285,281     1,174,585     1,177,180  
    Money Market Accounts   408,666     445,999     404,396     401,272     413,594  
    Savings Accounts   504,331     511,265     506,766     507,604     514,560  
    Certificates of Deposit   175,639     170,233     169,280     164,901     159,624  
    Total Deposits   3,704,853     3,783,890     3,671,977     3,579,077     3,608,564  
                         
    Repurchase Agreements   21,800     22,799     26,240     29,339     22,463  
    Other Short-Term Borrowings   12,741     14,401     2,064     7,929     3,307  
    Subordinated Notes Payable   42,582     52,887     52,887     52,887     52,887  
    Other Long-Term Borrowings   680     794     794     794     1,009  
    Other Liabilities   82,674     73,887     75,653     71,974     69,987  
    Total Liabilities   3,865,330     3,948,658     3,829,615     3,742,000     3,758,217  
                         
    Temporary Equity               6,817     6,479  
    SHAREOWNERS’ EQUITY                    
    Common Stock   171     171     170     169     169  
    Additional Paid-In Capital   39,527     38,576     37,684     36,070     35,547  
    Retained Earnings   487,665     476,715     463,949     454,342     445,959  
    Accumulated Other Comprehensive Loss, Net of Tax   (940 )   (2,887 )   (6,486 )   (14,082 )   (20,676 )
    Total Shareowners’ Equity   526,423     512,575     495,317     476,499     460,999  
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    OTHER BALANCE SHEET DATA                    
    Earning Assets $ 4,044,886   $ 4,108,969   $ 3,974,431   $ 3,880,769   $ 3,883,382  
    Interest Bearing Liabilities   2,450,576     2,511,032     2,447,708     2,339,311     2,344,624  
    Book Value Per Diluted Share $ 30.79   $ 30.02   $ 29.11   $ 28.06   $ 27.17  
    Tangible Book Value Per Diluted Share(1)   25.37     24.59     23.65     22.60     21.69  
    Actual Basic Shares Outstanding   17,066     17,055     16,975     16,944     16,942  
    Actual Diluted Shares Outstanding   17,098     17,072     17,018     16,981     16,970  
    (1)Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.
     
    CAPITAL CITY BANK GROUP, INC.                            
    CONSOLIDATED STATEMENT OF OPERATIONS                      
    Unaudited                            
                                 
        2025   2024   Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025   2024
    INTEREST INCOME                            
    Loans, including Fees $ 40,872 $ 40,478 $ 41,453   $ 41,659 $ 41,138 $ 81,350 $ 81,821
    Investment Securities   6,678   5,808   4,694     4,155   4,004   12,486   8,248
    Federal Funds Sold and Interest Bearing Deposits   3,909   3,496   3,596     3,514   3,624   7,405   5,517
    Total Interest Income   51,459   49,782   49,743     49,328   48,766   101,241   95,586
    INTEREST EXPENSE                            
    Deposits   7,405   7,383   7,766     8,223   8,579   14,788   16,173
    Repurchase Agreements   156   164   199     221   217   320   418
    Other Short-Term Borrowings   179   117   83     52   68   296   107
    Subordinated Notes Payable   530   560   581     610   630   1,090   1,258
    Other Long-Term Borrowings   5   11   11     11   3   16   6
    Total Interest Expense   8,275   8,235   8,640     9,117   9,497   16,510   17,962
    Net Interest Income   43,184   41,547   41,103     40,211   39,269   84,731   77,624
    Provision for Credit Losses   620   768   701     1,206   1,204   1,388   2,124
    Net Interest Income after Provision for Credit Losses   42,564   40,779   40,402     39,005   38,065   83,343   75,500
    NONINTEREST INCOME                            
    Deposit Fees   5,320   5,061   5,207     5,512   5,377   10,381   10,627
    Bank Card Fees   3,774   3,514   3,697     3,624   3,766   7,288   7,386
    Wealth Management Fees   5,206   5,763   5,222     4,770   4,439   10,969   9,121
    Mortgage Banking Revenues   4,190   3,820   3,118     3,966   4,381   8,010   7,259
    Other   1,524   1,749   1,516     1,641   1,643   3,273   3,310
    Total Noninterest Income   20,014   19,907   18,760     19,513   19,606   39,921   37,703
    NONINTEREST EXPENSE                            
    Compensation   26,490   26,248   26,108     25,800   24,406   52,738   48,813
    Occupancy, Net   7,071   6,793   6,893     7,098   6,997   13,864   13,991
    Other   8,977   5,660   8,781     10,023   9,038   14,637   17,808
    Total Noninterest Expense   42,538   38,701   41,782     42,921   40,441   81,239   80,612
    OPERATING PROFIT   20,040   21,985   17,380     15,597   17,230   42,025   32,591
    Income Tax Expense   4,996   5,127   4,219     2,980   3,189   10,123   6,725
    Net Income   15,044   16,858   13,161     12,617   14,041   31,902   25,866
    Pre-Tax (Income) Loss Attributable to Noncontrolling Interest       (71 )   501   109     841
    NET INCOME ATTRIBUTABLE TO
    COMMON SHAREOWNERS
    $ 15,044 $ 16,858 $ 13,090   $ 13,118 $ 14,150 $ 31,902 $ 26,707
    PER COMMON SHARE                            
    Basic Net Income $ 0.88 $ 0.99 $ 0.77   $ 0.77 $ 0.84 $ 1.87 $ 1.58
    Diluted Net Income   0.88   0.99   0.77     0.77   0.83   1.87   1.57
    Cash Dividend $ 0.24 $ 0.24 $ 0.23   $ 0.23 $ 0.21 $ 0.48 $ 0.42
    AVERAGE SHARES                            
    Basic   17,056   17,027   16,946     16,943   16,931   17,042   16,941
    Diluted   17,088   17,044   16,990     16,979   16,960   17,067   16,964
     
    CAPITAL CITY BANK GROUP, INC.                            
    ALLOWANCE FOR CREDIT LOSSES (“ACL”)                        
    AND CREDIT QUALITY                            
    Unaudited                            
                                 
        2025     2024     Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025     2024  
    ACL – HELD FOR INVESTMENT LOANS                            
    Balance at Beginning of Period $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,329   $ 29,251   $ 29,941  
    Transfer from Other (Assets) Liabilities                           (50 )
    Provision for Credit Losses   718     1,083     1,085     1,879     1,129     1,801     2,061  
    Net Charge-Offs (Recoveries)   590     600     1,670     1,262     1,239     1,190     2,733  
    Balance at End of Period $ 29,862   $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,862   $ 29,219  
    As a % of Loans HFI   1.13 %   1.12 %   1.10 %   1.11 %   1.09 %   1.13 %   1.09 %
    As a % of Nonperforming Loans   463.01 %   692.10 %   464.14 %   452.64 %   529.79 %   463.01 %   529.79 %
    ACL – UNFUNDED COMMITMENTS                            
    Balance at Beginning of Period   1,832   $ 2,155   $ 2,522   $ 3,139   $ 3,121   $ 2,155   $ 3,191  
    Provision for Credit Losses   (94 )   (323 )   (367 )   (617 )   18     (417 )   (52 )
    Balance at End of Period(1)   1,738     1,832     2,155     2,522     3,139     1,738     3,139  
    ACL – DEBT SECURITIES                            
    Provision for Credit Losses $ (4 ) $ 8   $ (17 ) $ (56 ) $ 57   $ 4   $ 115  
    CHARGE-OFFS                            
    Commercial, Financial and Agricultural $ 74   $ 168   $ 499   $ 331   $ 400   $ 242   $ 682  
    Real Estate – Construction           47                  
    Real Estate – Commercial               3              
    Real Estate – Residential   49     8     44             57     17  
    Real Estate – Home Equity   24         33     23         24     76  
    Consumer   914     865     1,307     1,315     1,061     1,779     2,611  
    Overdrafts   437     570     574     611     571     1,007     1,209  
    Total Charge-Offs $ 1,498   $ 1,611   $ 2,504   $ 2,283   $ 2,032   $ 3,109   $ 4,595  
    RECOVERIES                            
    Commercial, Financial and Agricultural $ 117   $ 75   $ 103   $ 176   $ 59   $ 192   $ 100  
    Real Estate – Construction           3                  
    Real Estate – Commercial   6     3     33     5     19     9     223  
    Real Estate – Residential   65     119     28     88     23     184     60  
    Real Estate – Home Equity   42     9     17     59     37     51     61  
    Consumer   456     481     352     405     313     937     723  
    Overdrafts   222     324     298     288     342     546     695  
    Total Recoveries $ 908   $ 1,011   $ 834   $ 1,021   $ 793   $ 1,919   $ 1,862  
    NET CHARGE-OFFS (RECOVERIES) $ 590   $ 600   $ 1,670   $ 1,262   $ 1,239   $ 1,190   $ 2,733  
    Net Charge-Offs as a % of Average Loans HFI(2)   0.09 %   0.09 %   0.25 %   0.19 %   0.18 %   0.09 %   0.20 %
    CREDIT QUALITY                            
    Nonaccruing Loans $ 6,449   $ 4,296   $ 6,302   $ 6,592   $ 5,515          
    Other Real Estate Owned   132     132     367     650     650          
    Total Nonperforming Assets (“NPAs”) $ 6,581   $ 4,428   $ 6,669   $ 7,242   $ 6,165          
                                 
    Past Due Loans 30-89 Days $ 4,523   $ 3,735   $ 4,311   $ 9,388   $ 5,672          
    Classified Loans   28,623     19,194     19,896     25,501     25,566          
                                 
    Nonperforming Loans as a % of Loans HFI   0.25 %   0.16 %   0.24 %   0.25 %   0.21 %        
    NPAs as a % of Loans HFI and Other Real Estate   0.25 %   0.17 %   0.25 %   0.27 %   0.23 %        
    NPAs as a % of Total Assets   0.15 %   0.10 %   0.15 %   0.17 %   0.15 %        
                                 
    (1)Recorded in other liabilities                            
    (2)Annualized                            
     
    CAPITAL CITY BANK GROUP, INC.                                                                                        
    AVERAGE BALANCE AND INTEREST RATES                                                                                        
    Unaudited                                                                                                    
                                                                                                         
        Second Quarter 2025     First Quarter 2025     Fourth Quarter 2024     Third Quarter 2024     Second Quarter 2024       June 2025 YTD     June 2024 YTD  
    (Dollars in thousands)   Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
          Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
     
    ASSETS:                                                                                                    
    Loans Held for Sale $ 22,668   $ 475   8.40 % $ 24,726   $ 490   8.04 % $ 31,047   $ 976   7.89 % $ 24,570     720   7.49 % $ 26,281   $ 517   5.26 %   $ 23,692   $ 965   8.21 % $ 26,797   $ 1,080   5.62 %
    Loans Held for Investment(1)   2,652,572     40,436   6.11     2,665,910     40,029   6.09     2,677,396     40,521   6.07     2,693,533     40,985   6.09     2,726,748     40,683   6.03       2,659,204     80,465   6.10     2,727,688     80,879   5.99  
                                                                                                         
    Investment Securities                                                                                                    
    Taxable Investment Securities   1,006,514     6,666   2.65     981,485     5,802   2.38     914,353     4,688   2.04     907,610     4,148   1.82     918,989     3,998   1.74       994,068     12,468   2.52     935,658     8,237   1.76  
    Tax-Exempt Investment Securities(1)   1,467     17   4.50     845     9   4.32     849     9   4.31     846     10   4.33     843     9   4.36       1,158     26   4.43     850     18   4.35  
                                                                                                         
    Total Investment Securities   1,007,981     6,683   2.65     982,330     5,811   2.38     915,202     4,697   2.04     908,456     4,158   1.82     919,832     4,007   1.74       995,226     12,494   2.52     936,508     8,255   1.76  
                                                                                                         
    Federal Funds Sold and Interest Bearing Deposits   348,787     3,909   4.49     320,948     3,496   4.42     298,255     3,596   4.80     256,855     3,514   5.44     262,419     3,624   5.56       334,944     7,405   4.46     201,454     5,517   5.51  
                                                                                                         
    Total Earning Assets   4,032,008   $ 51,503   5.12 %   3,993,914   $ 49,826   5.06 %   3,921,900   $ 49,790   5.05 %   3,883,414   $ 49,377   5.06 %   3,935,280   $ 48,831   4.99 %     4,013,066   $ 101,329   5.09 %   3,892,447   $ 95,731   4.94 %
                                                                                                         
    Cash and Due From Banks   65,761               73,467               73,992               70,994               74,803                 69,593               75,283            
    Allowance for Credit Losses   (30,492 )             (30,008 )             (30,107 )             (29,905 )             (29,564 )               (30,251 )             (29,797 )          
    Other Assets   302,984               297,660               293,884               291,359               291,669                 300,336               293,473            
                                                                                                         
    Total Assets $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    LIABILITIES:                                                                                                    
    Noninterest Bearing Deposits $ 1,342,304             $ 1,317,425             $ 1,323,556             $ 1,332,305             $ 1,346,546               $ 1,329,933             $ 1,345,367            
    NOW Accounts   1,225,697   $ 3,750   1.23 %   1,249,955   $ 3,854   1.25 %   1,182,073   $ 3,826   1.29 %   1,145,544   $ 4,087   1.42 %   1,207,643   $ 4,425   1.47 %     1,237,759   $ 7,604   1.24 %   1,204,337   $ 8,922   1.49 %
    Money Market Accounts   431,774     2,340   2.17     420,059     2,187   2.11     422,615     2,526   2.38     418,625     2,694   2.56     407,387     2,752   2.72       425,949     4,527   2.14     380,489     4,737   2.50  
    Savings Accounts   507,950     174   0.14     507,676     176   0.14     504,859     179   0.14     512,098     180   0.14     519,374     176   0.14       507,813     350   0.14     529,374     364   0.14  
    Time Deposits   172,982     1,141   2.65     170,367     1,166   2.78     167,321     1,235   2.94     163,462     1,262   3.07     160,078     1,226   3.08       171,682     2,307   2.71     149,203     2,150   2.90  
    Total Interest Bearing Deposits   2,338,403     7,405   1.27     2,348,057     7,383   1.28     2,276,868     7,766   1.36     2,239,729     8,223   1.46     2,294,482     8,579   1.50       2,343,203     14,788   1.27     2,263,403     16,173   1.44  
    Total Deposits   3,680,707     7,405   0.81     3,665,482     7,383   0.82     3,600,424     7,766   0.86     3,572,034     8,223   0.92     3,641,028     8,579   0.95       3,673,136     14,788   0.81     3,608,770     16,173   0.90  
    Repurchase Agreements   22,557     156   2.78     29,821     164   2.23     28,018     199   2.82     27,126     221   3.24     26,999     217   3.24       26,169     320   2.47     26,362     418   3.19  
    Other Short-Term Borrowings   10,503     179   6.82     7,437     117   6.39     6,510     83   5.06     2,673     52   7.63     6,592     68   4.16       8,978     296   6.64     5,176     107   4.16  
    Subordinated Notes Payable   51,981     530   4.03     52,887     560   4.23     52,887     581   4.30     52,887     610   4.52     52,887     630   4.71       52,432     1,090   4.13     52,887     1,258   4.70  
    Other Long-Term Borrowings   792     5   2.41     794     11   5.68     794     11   5.57     795     11   5.55     258     3   4.31       793     16   4.04     270     6   4.56  
    Total Interest Bearing Liabilities   2,424,236   $ 8,275   1.37 %   2,438,996   $ 8,235   1.37 %   2,365,077   $ 8,640   1.45 %   2,323,210   $ 9,117   1.56 %   2,381,218   $ 9,497   1.60 %     2,431,575   $ 16,510   1.37 %   2,348,098   $ 17,962   1.54 %
                                                                                                         
    Other Liabilities   76,138               65,211               73,130               73,767               72,634                 70,705               70,464            
                                                                                                         
    Total Liabilities   3,842,678               3,821,632               3,761,763               3,729,282               3,800,398                 3,832,213               3,763,929            
    Temporary Equity                               6,763               6,443               6,493                               6,821            
                                                                                                         
    SHAREOWNERS’ EQUITY:   527,583               513,401               491,143               480,137               465,297                 520,531               460,656            
                                                                                                         
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    Interest Rate Spread     $ 43,228   3.75 %     $ 41,591   3.69 %     $ 41,150   3.59 %     $ 40,260   3.49 %     $ 39,334   3.38 %       $ 84,819   3.72 %     $ 77,769   3.40 %
                                                                                                         
    Interest Income and Rate Earned(1)       51,503   5.12         49,826   5.06         49,790   5.05         49,377   5.06         48,831   4.99           101,329   5.09         95,731   4.94  
    Interest Expense and Rate Paid(2)       8,275   0.82         8,235   0.84         8,640   0.88         9,117   0.93         9,497   0.97           16,510   0.83         17,962   0.93  
                                                                                                         
    Net Interest Margin     $ 43,228   4.30 %     $ 41,591   4.22 %     $ 41,150   4.17 %     $ 40,260   4.12 %     $ 39,334   4.02 %       $ 84,819   4.26 %     $ 77,769   4.01 %
                                                                                                         
    (1)Interest and average rates are calculated on a tax-equivalent basis using a 21% Federal tax rate.                                                                  
    (2)Rate calculated based on average earning assets.                                                                       

    The MIL Network

  • MIL-OSI: Capital City Bank Group, Inc. Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., July 22, 2025 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of $15.0 million, or $0.88 per diluted share, for the second quarter of 2025 compared to $16.9 million, or $0.99 per diluted share, for the first quarter of 2025, and $14.2 million, or $0.83 per diluted share, for the second quarter of 2024.

    QUARTER HIGHLIGHTS (2ndQuarter 2025 versus 1stQuarter 2025)

    Income Statement

    • Tax-equivalent net interest income totaled $43.2 million compared to $41.6 million for the first quarter of 2025
      • Net interest margin increased eight basis points to 4.30% (earning asset yield increased by six basis points and cost of funds decreased two basis points to 82 basis points)
    • Provision for credit losses decreased by $0.1 million to $0.6 million for the second quarter – net loan charge-offs were comparable to the first quarter of 2025 at nine basis points (annualized) of average loans – allowance coverage ratio increased to 1.13% at June 30, 2025
    • Noninterest income increased by $0.1 million, or 0.5%, reflecting higher deposit and bankcard fees as well as mortgage fees partially offset by lower wealth management fees
    • Noninterest expense increased by $3.8 million, or 9.9%, primarily due to a $3.9 million net gain from the sale of our operations center building (reflected in other expense) in the first quarter of 2025

    Balance Sheet

    • Loan balances decreased by $13.3 million, or 0.5% (average), and decreased by $29.3 million, or 1.1% (end of period)
    • Deposit balances increased by $15.2 million, or 0.4% (average), and decreased by $79.0 million, or 2.1% (end of period) due to the seasonal decrease in our public fund balances
      • Noninterest bearing deposits averaged 36.5% of total deposits for the second quarter and 36.2% for the year
    • Tangible book value per diluted share (non-GAAP financial measure) increased by $0.78, or 3.2%

    “Capital City delivered another strong quarter, highlighted by sustained revenue growth and continued credit strength,” said William G. Smith, Jr, Capital City Bank Group Chairman and CEO. “Our second quarter results reflect a 3.9% increase in net interest income and an 8 basis point expansion in the net interest margin to 4.30%. Tangible book value per share increased by 3.2%, and we further strengthened our capital position, with our tangible capital ratio increasing to 10.1%. We remain focused on executing strategies that drive consistent, profitable growth, supported by a fortress balance sheet that provides resilience and strategic flexibility.”                          

    Discussion of Operating Results

    Net Interest Income/Net Interest Margin

    Tax-equivalent net interest income for the second quarter of 2025 totaled $43.2 million compared to $41.6 million for the first quarter of 2025 and $39.3 million for the second quarter of 2024. Compared to the first quarter of 2025, the increase was driven by a $0.9 million increase in investment securities income and a $0.4 million increase in overnight funds income. One additional calendar day in the second quarter of 2025 contributed to the increase. Compared to the second quarter of 2024, the increase was primarily due to a $2.7 million increase in investment securities income and a $1.2 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income for both prior period comparisons. Further, the decrease in deposit interest expense from the prior year period reflected the gradual decrease in our deposit rates, as short term rates began declining in the second half of 2024.

    For the first six months of 2025, tax-equivalent net interest income totaled $84.8 million compared to $77.8 million for the same period of 2024 with the increase primarily attributable to a $4.2 million increase in investment securities income, a $1.9 million increase in overnight funds income, and a $1.4 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income. Higher average deposit balances contributed to the increase in overnight funds income. The decrease in deposit interest expense reflected the aforementioned decrease in our deposit rates.

    Our net interest margin for the second quarter of 2025 was 4.30%, an increase of eight basis points over the first quarter of 2025 and an increase of 28 basis points over the second quarter of 2024. For the month of June 2025, our net interest margin was 4.36%. For the first six months of 2025, our net interest margin increased by 25 basis points to 4.26% compared to the same period of 2024. The increase in net interest margin over all prior periods reflected a higher yield in the investment portfolio driven by new purchases at higher yields. Lower deposit cost also contributed to the improvement over both prior year periods. For the second quarter of 2025, our cost of funds was 82 basis points, a decrease of two basis points from the first quarter of 2025 and a 15-basis point decrease from the second quarter of 2024. Our cost of deposits (including noninterest bearing accounts) was 81 basis points, 82 basis points, and 95 basis points, respectively, for the same periods.

    Provision for Credit Losses

    We recorded a provision expense for credit losses of $0.6 million for the second quarter of 2025 compared to $0.8 million for the first quarter of 2025 and $1.2 million for the second quarter of 2024. For the first six months of 2025, we recorded a provision expense for credit losses of $1.4 million compared to $2.1 million for the first six months of 2024. Activity within the components of the provision (loans held for investment (“HFI”) and unfunded loan commitments) for each reported period is provided in the table on page 14. We discuss the various factors that impacted our provision expense for Loans HFI in further detail below under the heading Allowance for Credit Losses.

    Noninterest Income and Noninterest Expense

    Noninterest income for the second quarter of 2025 totaled $20.0 million compared to $19.9 million for the first quarter of 2025 and $19.6 million for the second quarter of 2024. The $0.1 million, or 0.5%, increase over the first quarter of 2025 was primarily due to a $0.4 million increase in mortgage banking revenues and a $0.3 million increase in deposit fees, partially offset by a $0.6 million decrease in wealth management fees. The increase in mortgage revenues was driven by an increase in production volume. Fee adjustments made late in the second quarter of 2025 led to the increase in deposit fees. The decrease in wealth management fees was attributable to a decrease in insurance commission revenue. Compared to the second quarter of 2024, the $0.4 million, or 2.1%, increase was primarily due to a $0.8 million increase in wealth management fees, partially offset by a $0.2 million decrease in mortgage banking revenues and a $0.1 million decrease in other income. The increase in wealth management fees reflected a $0.5 million increase in trust fees and a $0.4 million increase in retail brokerage fees, partially offset by a $0.1 million decrease in insurance commission revenue. A combination of new business, higher account valuations, and fee increases implemented in early 2025 drove the improvement in trust and retail brokerage fees.

    For the first six months of 2025, noninterest income totaled $39.9 million compared to $37.7 million for the same period of 2024, primarily attributable to a $1.8 million increase in wealth management fees and a $0.7 million increase in mortgage banking revenues that was partially offset by a $0.2 million decrease in deposit fees. The increase in wealth management fees reflected increases in retail brokerage fees of $1.0 million, trust fees of $0.7 million, and insurance commission revenue of $0.1 million. The increases in retail brokerage and trust fees were attributable to a combination of new business, higher account valuations, and fee increases implemented in early 2025. The increase in mortgage banking revenues was due to a higher gain on sale margin.   

    Noninterest expense for the second quarter of 2025 totaled $42.5 million compared to $38.7 million for the first quarter of 2025 and $40.4 million for the second quarter of 2024. The $3.8 million, or 9.9%, increase over the first quarter of 2025, reflected a $3.3 million increase in other expense, a $0.3 million increase in occupancy expense, and a $0.2 million increase in compensation expense. The increase in other expense was driven by a $4.5 million increase in other real estate expense which reflected lower gains from the sale of banking facilities, primarily the sale of our operations center building in the first quarter of 2025, partially offset by a $0.5 million decrease in charitable contribution expense and a $0.6 million decrease in miscellaneous expense. The slight increase in occupancy expense was due to higher software maintenance agreement expense and maintenance/repairs for buildings and furniture/fixtures. The slight increase in compensation expense reflected a $0.1 million increase in salary expense and a $0.1 million increase in associate benefit expense.   Compared to the second quarter of 2024, the $2.1 million, or 5.2%, increase was primarily due to a $2.1 million increase in compensation expense which reflected a $1.3 million increase in salary expense and a $0.8 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $0.9 million and base salaries of $0.4 million (merit based). The increase in associate benefit expense was attributable to a $0.6 million increase in associate insurance expense and a $0.2 million increase in stock compensation expense.

    For the first six months of 2025, noninterest expense totaled $81.2 million compared to $80.6 million for the same period of 2024 with the $0.6 million, or 0.8%, increase due to a $3.9 million increase in compensation expense that was partially offset by a $3.2 million decrease in other expense and a $0.1 million decrease in occupancy expense. The increase in compensation was due to a $2.5 million increase in salary expense and a $1.4 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $1.2 million, base salaries of $0.9 million (merit based), and commissions of $0.7 million (retail brokerage and mortgage). The increase in associate benefit expense was attributable to a higher cost for associate insurance. The decrease in other expense was primarily due to a $4.5 million decrease in other real estate expense due to lower gains from the sale of banking facilities, and a $1.0 million decrease in miscellaneous expense (non-service component of pension expense), partially offset by increases in processing expense of $1.1 million (outsource of core processing system), charitable contribution expense of $0.7 million, and professional fees of $0.5 million.

    Income Taxes

    We realized income tax expense of $5.0 million (effective rate of 24.9%) for the second quarter of 2025 compared to $5.1 million (effective rate of 23.3%) for the first quarter of 2025 and $3.2 million (effective rate of 18.5%) for the second quarter of 2024. For the first six months of 2025, we realized income tax expense of $10.1 million (effective rate of 24.1%) compared to $6.7 million (effective rate of 20.6%) for the same period of 2024. A lower level of tax benefit accrued from a solar tax credit equity fund drove the increase in our effective tax rate for all prior period comparisons. Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 24% for 2025.

    Discussion of Financial Condition

    Earning Assets

    Average earning assets totaled $4.032 billion for the second quarter of 2025, an increase of $38.1 million, or 1.0%, over the first quarter of 2025, and an increase of $110.1 million, or 2.8%, over the fourth quarter of 2024. The increase over both prior periods was driven by higher average deposit balances (see below – Deposits). Compared to the first quarter of 2025, the change in the earning asset mix reflected a $27.8 million increase in overnight funds and a $25.7 million increase in investment securities that was partially offset by a $13.3 million decrease in loans HFI and a $2.1 million decrease in loans held for sale (“HFS”). Compared to the fourth quarter of 2024, the change in the earning asset mix reflected a $92.8 million increase in investment securities and a $50.5 million increase in overnight funds sold partially offset by a $24.8 million decrease in loans HFI and a $8.4 million decrease in loans HFS.

    Average loans HFI decreased by $13.3 million, or 0.5%, from the first quarter of 2025 and decreased by $24.8 million, or 0.9%, from the fourth quarter of 2024. Compared to the first quarter of 2025, the decrease was due to decreases in construction loans of $24.6 million, consumer loans (primarily indirect auto) of $1.9 million, and commercial loans of $3.4 million, partially offset by increases to residential real estate loans of $10.2 million, commercial real estate loans of $2.1 million, and home equity loans of $4.1 million. Compared to the fourth quarter of 2024, the decline was primarily attributable to decreases in construction loans of $33.2 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $4.0 million, partially offset by increases in home equity loans of $10.8 million, residential real estate loans of $9.9 million, and commercial real estate loans of $1.9 million.

    Loans HFI at June 30, 2025 decreased by $29.3 million, or 1.1%, from March 31, 2025 and decreased by $20.1 million, or 0.8%, from December 31, 2024. Compared to the first quarter of 2025, the decline was primarily due to decreases in construction loans of $18.2 million, consumer loans (primarily indirect auto) of $8.7 million, commercial loans of $4.4 million, and commercial real estate loans of $4.4 million, partially offset by increases in residential real estate loans of $5.8 million and home equity loans of $2.2 million. Compared to December 31, 2024, the decrease was primarily attributable to decreases in construction loans of $45.9 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $2.0 million, partially offset by increases in commercial real estate loans of $23.4 million, residential real estate loans of $17.9 million, and home equity loans of $8.1 million.

    Allowance for Credit Losses

    At June 30, 2025, the allowance for credit losses for loans HFI totaled $29.9 million compared to $29.7 million at March 31, 2025 and $29.3 million at December 31, 2024. Activity within the allowance is provided on Page 14. The slight increase in the allowance over March 31, 2025 and December 31, 2024 was primarily attributable to qualitative factor adjustments that were partially offset by lower loan balances. Net loan charge-offs for both the second quarter of 2025 and the first quarter of 2025 were comparable at nine basis points of average loans. At June 30, 2025, the allowance represented 1.13% of loans HFI compared to 1.12% at March 31, 2025, and 1.10% at December 31, 2024.

    Credit Quality

    Nonperforming assets (nonaccrual loans and other real estate) totaled $6.6 million at June 30, 2025 compared to $4.4 million at March 31, 2025 and $6.7 million at December 31, 2024. At June 30, 2025, nonperforming assets as a percentage of total assets was 0.15%, compared to 0.10% at March 31, 2025 and 0.15% at December 31, 2024. Nonaccrual loans totaled $6.4 million at June 30, 2025, a $2.2 million increase over March 31, 2025 and a $0.1 million increase over December 31, 2024 with the increase over the first quarter of 2025 primarily attributable to two home equity loans totaling $1.8 million. Classified loans totaled $28.6 million at June 30, 2025, a $9.4 million increase over March 31, 2025 and a $8.7 million increase over December 31, 2024. The increase over the prior periods was primarily due to the downgrade of four residential real estate loans totaling $4.2 million and two commercial real estate loans totaling $4.3 million.

    Deposits

    Average total deposits were $3.681 billion for the second quarter of 2025, an increase of $15.2 million, or 0.4%, over the first quarter of 2025 and an increase of $80.3 million, or 2.2%, over the fourth quarter of 2024.   Compared to the first quarter of 2025, the increase was attributable to higher core deposit balances (primarily noninterest bearing checking and money market), partially offset by a decline in public funds balances (primarily NOW accounts) due to the seasonal reduction in those balances. The increase over the fourth quarter of 2024 reflected strong growth in core deposit balances and a seasonal increase in public funds balances (primarily NOW) which are received/deposited by those clients starting in December and peak on average in the first quarter.

    At June 30, 2025, total deposits were $3.705 billion, a decrease of $79.0 million, or 2.1%, from March 31, 2025, and an increase of $32.9 million, or 0.9%, over December 31, 2024. The decrease from March 31, 2025 was primarily due to a seasonal decline in public funds balances, (primarily money market and noninterest bearing). The increase over December 31, 2024 reflected higher core deposit balances, primarily noninterest bearing accounts. Public funds totaled $596.6 million at June 30, 2025, $648.0 million at March 31, 2025, and $660.9 million at December 31, 2024.

    Liquidity

    We maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold less FED funds purchased) sold position of $348.8 million in the second quarter of 2025 compared to $320.9 million in the first quarter of 2025 and $298.3 million in the fourth quarter of 2024. Compared to both prior periods, the increase reflected higher average deposits and lower average loans.

    At June 30, 2025, we had the ability to generate approximately $1.603 billion (excludes overnight funds position of $395 million) in additional liquidity through various sources including various federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits.

    We also view our investment portfolio as a liquidity source, as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits and/or to sell selected securities in our portfolio. Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities. At June 30, 2025, the weighted-average maturity and duration of our portfolio were 2.66 years and 2.14 years, respectively, and the available-for-sale portfolio had a net unrealized after-tax loss of $13.4 million.

    Capital

    Shareowners’ equity was $526.4 million at June 30, 2025 compared to $512.6 million at March 31, 2025 and $495.3 million at December 31, 2024. For the first six months of 2025, shareowners’ equity was positively impacted by net income attributable to shareowners of $31.9 million, a net $5.5 million decrease in the accumulated other comprehensive loss, the issuance of common stock of $2.8 million, and stock compensation accretion of $0.9 million. The net favorable change in accumulated other comprehensive loss reflected a $6.4 million decrease in the investment securities loss that was partially offset by a $0.9 million decrease in the fair value of the interest rate swap related to subordinated debt. Shareowners’ equity was reduced by common stock dividends of $8.2 million ($0.48 per share) and net adjustments totaling $1.8 million related to transactions under our stock compensation plans.

    At June 30, 2025, our total risk-based capital ratio was 19.60% compared to 19.20% at March 31, 2025 and 18.64% at December 31, 2024. Our common equity tier 1 capital ratio was 16.81%, 16.08%, and 15.54%, respectively, on these dates. Our leverage ratio was 11.14%, 11.17%, and 11.05%, respectively, on these dates. At June 30, 2025, all our regulatory capital ratios exceeded the thresholds to be designated as “well-capitalized” under the Basel III capital standards. Further, our tangible common equity ratio (non-GAAP financial measure) was 10.09% at June 30, 2025 compared to 9.61% and 9.51% at March 31, 2025 and December 31, 2024, respectively. If the unrealized loss for held-to-maturity securities of $9.9 million (after-tax) was recognized in accumulated other comprehensive loss, our adjusted tangible capital ratio would be 9.86%.

    About Capital City Bank Group, Inc.

    Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.4 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services, and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 107 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit https://www.ccbg.com/.

    FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,” “goal,” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause our actual results to differ: the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations; local, regional, national, and international economic conditions and the impact they may have on us and our clients and our assessment of that impact; the costs and effects of legal and regulatory developments, the outcomes of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as other accounting standard setters; the accuracy of our financial statement estimates and assumptions; changes in the financial performance and/or condition of our borrowers; changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs; changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our liquidity position; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing, and saving habits; greater than expected costs or difficulties related to the integration of new products and lines of business; technological changes; the costs and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers; acquisitions and integration of acquired businesses; impairment of our goodwill or other intangible assets; changes in the reliability of our vendors, internal control systems, or information systems; our ability to increase market share and control expenses; our ability to attract and retain qualified employees; changes in our organization, compensation, and benefit plans; the soundness of other financial institutions; volatility and disruption in national and international financial and commodity markets; changes in the competitive environment in our markets and among banking organizations and other financial service providers; government intervention in the U.S. financial system; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict, terrorism, civil unrest, climate change or other geopolitical events; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control; negative publicity and the impact on our reputation; and the limited trading activity and concentration of ownership of our common stock. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and our other filings with the SEC, which are available at the SEC’s internet site (https://www.sec.gov). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ, except as may be required by law.

    For Information Contact:
    Jep Larkin
    Executive Vice President and Chief Financial Officer
    850.402.8450

    USE OF NON-GAAP FINANCIAL MEASURES
    Unaudited

    We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because they allow investors to more easily compare our capital adequacy to other companies in the industry. Non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently.

    The GAAP to non-GAAP reconciliations are provided below.

    (Dollars in Thousands, except per share data) Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024
    Shareowners’ Equity (GAAP)   $ 526,423 $ 512,575 $ 495,317   476,499 $ 460,999
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Shareowners’ Equity (non-GAAP) A   433,730   419,842   402,544   383,686   368,146
    Total Assets (GAAP)     4,391,753   4,461,233   4,324,932   4,225,316   4,225,695
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Assets (non-GAAP) B $ 4,299,060 $ 4,368,500 $ 4,232,159   4,132,503 $ 4,132,842
    Tangible Common Equity Ratio (non-GAAP) A/B   10.09%   9.61%   9.51%   9.28%   8.91%
    Actual Diluted Shares Outstanding (GAAP) C   17,097,986   17,072,330   17,018,122   16,980,686   16,970,228
    Tangible Book Value per Diluted Share (non-GAAP) A/C $ 25.37 $ 24.59 $ 23.65   22.60 $ 21.69
     
    CAPITAL CITY BANK GROUP, INC.                      
    EARNINGS HIGHLIGHTS                      
    Unaudited                      
                           
        Three Months Ended   Six Months Ended  
    (Dollars in thousands, except per share data)   Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024  
    EARNINGS                      
    Net Income Attributable to Common Shareowners $ 15,044 $ 16,858 $ 14,150 $ 31,902 $ 26,707  
    Diluted Net Income Per Share $ 0.88 $ 0.99 $ 0.83 $ 1.87 $ 1.57  
    PERFORMANCE                      
    Return on Average Assets (annualized)   1.38 % 1.58 % 1.33 % 1.48 % 1.27 %
    Return on Average Equity (annualized)   11.44   13.32   12.23   12.36   11.66  
    Net Interest Margin   4.30   4.22   4.02   4.26   4.01  
    Noninterest Income as % of Operating Revenue   31.67   32.39   33.30   32.03   32.69  
    Efficiency Ratio   67.26 % 62.93 % 68.61 % 65.13 % 69.81 %
    CAPITAL ADEQUACY                      
    Tier 1 Capital   18.38 % 18.01 % 16.31 % 18.38 % 16.31 %
    Total Capital   19.60   19.20   17.50   19.60   17.50  
    Leverage   11.14   11.17   10.51   11.14   10.51  
    Common Equity Tier 1   16.81   16.08   14.44   16.81   14.44  
    Tangible Common Equity(1)   10.09   9.61   8.91   10.09   8.91  
    Equity to Assets   11.99 % 11.49 % 10.91 % 11.99 % 10.91 %
    ASSET QUALITY                      
    Allowance as % of Non-Performing Loans   463.01 % 692.10 % 529.79 % 463.01 % 529.79 %
    Allowance as a % of Loans HFI   1.13   1.12   1.09   1.13   1.09  
    Net Charge-Offs as % of Average Loans HFI   0.09   0.09   0.18   0.09   0.20  
    Nonperforming Assets as % of Loans HFI and OREO   0.25   0.17   0.23   0.25   0.23  
    Nonperforming Assets as % of Total Assets   0.15 % 0.10 % 0.15 % 0.15 % 0.15 %
    STOCK PERFORMANCE                      
    High $ 39.82 $ 38.27 $ 28.58 $ 39.82 $ 31.34  
    Low   32.38   33.00   25.45   32.38   25.45  
    Close $ 39.35 $ 35.96 $ 28.44 $ 39.35 $ 28.44  
    Average Daily Trading Volume   27,397   24,486   29,861   25,988   30,433  
                           
    (1)Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.        
     
    CAPITAL CITY BANK GROUP, INC.                    
    CONSOLIDATED STATEMENT OF FINANCIAL CONDITION            
    Unaudited                    
                         
      2025   2024
    (Dollars in thousands) Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter
    ASSETS                    
    Cash and Due From Banks $ 78,485   $ 78,521   $ 70,543   $ 83,431   $ 75,304  
    Funds Sold and Interest Bearing Deposits   394,917     446,042     321,311     261,779     272,675  
    Total Cash and Cash Equivalents   473,402     524,563     391,854     345,210     347,979  
                         
    Investment Securities Available for Sale   533,457     461,224     403,345     336,187     310,941  
    Investment Securities Held to Maturity   462,599     517,176     567,155     561,480     582,984  
    Other Equity Securities   3,242     2,315     2,399     6,976     2,537  
    Total Investment Securities   999,298     980,715     972,899     904,643     896,462  
                         
    Loans Held for Sale (“HFS”):   19,181     21,441     28,672     31,251     24,022  
                         
    Loans Held for Investment (“HFI”):                    
    Commercial, Financial, & Agricultural   180,008     184,393     189,208     194,625     204,990  
    Real Estate – Construction   174,115     192,282     219,994     218,899     200,754  
    Real Estate – Commercial   802,504     806,942     779,095     819,955     823,122  
    Real Estate – Residential   1,046,368     1,040,594     1,028,498     1,023,485     1,012,541  
    Real Estate – Home Equity   228,201     225,987     220,064     210,988     211,126  
    Consumer   197,483     206,191     199,479     213,305     234,212  
    Other Loans   1,552     3,227     14,006     461     2,286  
    Overdrafts   1,259     1,154     1,206     1,378     1,192  
    Total Loans Held for Investment   2,631,490     2,660,770     2,651,550     2,683,096     2,690,223  
    Allowance for Credit Losses   (29,862 )   (29,734 )   (29,251 )   (29,836 )   (29,219 )
    Loans Held for Investment, Net   2,601,628     2,631,036     2,622,299     2,653,260     2,661,004  
                         
    Premises and Equipment, Net   79,906     80,043     81,952     81,876     81,414  
    Goodwill and Other Intangibles   92,693     92,733     92,773     92,813     92,853  
    Other Real Estate Owned   132     132     367     650     650  
    Other Assets   125,513     130,570     134,116     115,613     121,311  
    Total Other Assets   298,244     303,478     309,208     290,952     296,228  
    Total Assets $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    LIABILITIES                    
    Deposits:                    
    Noninterest Bearing Deposits $ 1,332,080   $ 1,363,739   $ 1,306,254   $ 1,330,715   $ 1,343,606  
    NOW Accounts   1,284,137     1,292,654     1,285,281     1,174,585     1,177,180  
    Money Market Accounts   408,666     445,999     404,396     401,272     413,594  
    Savings Accounts   504,331     511,265     506,766     507,604     514,560  
    Certificates of Deposit   175,639     170,233     169,280     164,901     159,624  
    Total Deposits   3,704,853     3,783,890     3,671,977     3,579,077     3,608,564  
                         
    Repurchase Agreements   21,800     22,799     26,240     29,339     22,463  
    Other Short-Term Borrowings   12,741     14,401     2,064     7,929     3,307  
    Subordinated Notes Payable   42,582     52,887     52,887     52,887     52,887  
    Other Long-Term Borrowings   680     794     794     794     1,009  
    Other Liabilities   82,674     73,887     75,653     71,974     69,987  
    Total Liabilities   3,865,330     3,948,658     3,829,615     3,742,000     3,758,217  
                         
    Temporary Equity               6,817     6,479  
    SHAREOWNERS’ EQUITY                    
    Common Stock   171     171     170     169     169  
    Additional Paid-In Capital   39,527     38,576     37,684     36,070     35,547  
    Retained Earnings   487,665     476,715     463,949     454,342     445,959  
    Accumulated Other Comprehensive Loss, Net of Tax   (940 )   (2,887 )   (6,486 )   (14,082 )   (20,676 )
    Total Shareowners’ Equity   526,423     512,575     495,317     476,499     460,999  
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    OTHER BALANCE SHEET DATA                    
    Earning Assets $ 4,044,886   $ 4,108,969   $ 3,974,431   $ 3,880,769   $ 3,883,382  
    Interest Bearing Liabilities   2,450,576     2,511,032     2,447,708     2,339,311     2,344,624  
    Book Value Per Diluted Share $ 30.79   $ 30.02   $ 29.11   $ 28.06   $ 27.17  
    Tangible Book Value Per Diluted Share(1)   25.37     24.59     23.65     22.60     21.69  
    Actual Basic Shares Outstanding   17,066     17,055     16,975     16,944     16,942  
    Actual Diluted Shares Outstanding   17,098     17,072     17,018     16,981     16,970  
    (1)Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.
     
    CAPITAL CITY BANK GROUP, INC.                            
    CONSOLIDATED STATEMENT OF OPERATIONS                      
    Unaudited                            
                                 
        2025   2024   Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025   2024
    INTEREST INCOME                            
    Loans, including Fees $ 40,872 $ 40,478 $ 41,453   $ 41,659 $ 41,138 $ 81,350 $ 81,821
    Investment Securities   6,678   5,808   4,694     4,155   4,004   12,486   8,248
    Federal Funds Sold and Interest Bearing Deposits   3,909   3,496   3,596     3,514   3,624   7,405   5,517
    Total Interest Income   51,459   49,782   49,743     49,328   48,766   101,241   95,586
    INTEREST EXPENSE                            
    Deposits   7,405   7,383   7,766     8,223   8,579   14,788   16,173
    Repurchase Agreements   156   164   199     221   217   320   418
    Other Short-Term Borrowings   179   117   83     52   68   296   107
    Subordinated Notes Payable   530   560   581     610   630   1,090   1,258
    Other Long-Term Borrowings   5   11   11     11   3   16   6
    Total Interest Expense   8,275   8,235   8,640     9,117   9,497   16,510   17,962
    Net Interest Income   43,184   41,547   41,103     40,211   39,269   84,731   77,624
    Provision for Credit Losses   620   768   701     1,206   1,204   1,388   2,124
    Net Interest Income after Provision for Credit Losses   42,564   40,779   40,402     39,005   38,065   83,343   75,500
    NONINTEREST INCOME                            
    Deposit Fees   5,320   5,061   5,207     5,512   5,377   10,381   10,627
    Bank Card Fees   3,774   3,514   3,697     3,624   3,766   7,288   7,386
    Wealth Management Fees   5,206   5,763   5,222     4,770   4,439   10,969   9,121
    Mortgage Banking Revenues   4,190   3,820   3,118     3,966   4,381   8,010   7,259
    Other   1,524   1,749   1,516     1,641   1,643   3,273   3,310
    Total Noninterest Income   20,014   19,907   18,760     19,513   19,606   39,921   37,703
    NONINTEREST EXPENSE                            
    Compensation   26,490   26,248   26,108     25,800   24,406   52,738   48,813
    Occupancy, Net   7,071   6,793   6,893     7,098   6,997   13,864   13,991
    Other   8,977   5,660   8,781     10,023   9,038   14,637   17,808
    Total Noninterest Expense   42,538   38,701   41,782     42,921   40,441   81,239   80,612
    OPERATING PROFIT   20,040   21,985   17,380     15,597   17,230   42,025   32,591
    Income Tax Expense   4,996   5,127   4,219     2,980   3,189   10,123   6,725
    Net Income   15,044   16,858   13,161     12,617   14,041   31,902   25,866
    Pre-Tax (Income) Loss Attributable to Noncontrolling Interest       (71 )   501   109     841
    NET INCOME ATTRIBUTABLE TO
    COMMON SHAREOWNERS
    $ 15,044 $ 16,858 $ 13,090   $ 13,118 $ 14,150 $ 31,902 $ 26,707
    PER COMMON SHARE                            
    Basic Net Income $ 0.88 $ 0.99 $ 0.77   $ 0.77 $ 0.84 $ 1.87 $ 1.58
    Diluted Net Income   0.88   0.99   0.77     0.77   0.83   1.87   1.57
    Cash Dividend $ 0.24 $ 0.24 $ 0.23   $ 0.23 $ 0.21 $ 0.48 $ 0.42
    AVERAGE SHARES                            
    Basic   17,056   17,027   16,946     16,943   16,931   17,042   16,941
    Diluted   17,088   17,044   16,990     16,979   16,960   17,067   16,964
     
    CAPITAL CITY BANK GROUP, INC.                            
    ALLOWANCE FOR CREDIT LOSSES (“ACL”)                        
    AND CREDIT QUALITY                            
    Unaudited                            
                                 
        2025     2024     Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025     2024  
    ACL – HELD FOR INVESTMENT LOANS                            
    Balance at Beginning of Period $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,329   $ 29,251   $ 29,941  
    Transfer from Other (Assets) Liabilities                           (50 )
    Provision for Credit Losses   718     1,083     1,085     1,879     1,129     1,801     2,061  
    Net Charge-Offs (Recoveries)   590     600     1,670     1,262     1,239     1,190     2,733  
    Balance at End of Period $ 29,862   $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,862   $ 29,219  
    As a % of Loans HFI   1.13 %   1.12 %   1.10 %   1.11 %   1.09 %   1.13 %   1.09 %
    As a % of Nonperforming Loans   463.01 %   692.10 %   464.14 %   452.64 %   529.79 %   463.01 %   529.79 %
    ACL – UNFUNDED COMMITMENTS                            
    Balance at Beginning of Period   1,832   $ 2,155   $ 2,522   $ 3,139   $ 3,121   $ 2,155   $ 3,191  
    Provision for Credit Losses   (94 )   (323 )   (367 )   (617 )   18     (417 )   (52 )
    Balance at End of Period(1)   1,738     1,832     2,155     2,522     3,139     1,738     3,139  
    ACL – DEBT SECURITIES                            
    Provision for Credit Losses $ (4 ) $ 8   $ (17 ) $ (56 ) $ 57   $ 4   $ 115  
    CHARGE-OFFS                            
    Commercial, Financial and Agricultural $ 74   $ 168   $ 499   $ 331   $ 400   $ 242   $ 682  
    Real Estate – Construction           47                  
    Real Estate – Commercial               3              
    Real Estate – Residential   49     8     44             57     17  
    Real Estate – Home Equity   24         33     23         24     76  
    Consumer   914     865     1,307     1,315     1,061     1,779     2,611  
    Overdrafts   437     570     574     611     571     1,007     1,209  
    Total Charge-Offs $ 1,498   $ 1,611   $ 2,504   $ 2,283   $ 2,032   $ 3,109   $ 4,595  
    RECOVERIES                            
    Commercial, Financial and Agricultural $ 117   $ 75   $ 103   $ 176   $ 59   $ 192   $ 100  
    Real Estate – Construction           3                  
    Real Estate – Commercial   6     3     33     5     19     9     223  
    Real Estate – Residential   65     119     28     88     23     184     60  
    Real Estate – Home Equity   42     9     17     59     37     51     61  
    Consumer   456     481     352     405     313     937     723  
    Overdrafts   222     324     298     288     342     546     695  
    Total Recoveries $ 908   $ 1,011   $ 834   $ 1,021   $ 793   $ 1,919   $ 1,862  
    NET CHARGE-OFFS (RECOVERIES) $ 590   $ 600   $ 1,670   $ 1,262   $ 1,239   $ 1,190   $ 2,733  
    Net Charge-Offs as a % of Average Loans HFI(2)   0.09 %   0.09 %   0.25 %   0.19 %   0.18 %   0.09 %   0.20 %
    CREDIT QUALITY                            
    Nonaccruing Loans $ 6,449   $ 4,296   $ 6,302   $ 6,592   $ 5,515          
    Other Real Estate Owned   132     132     367     650     650          
    Total Nonperforming Assets (“NPAs”) $ 6,581   $ 4,428   $ 6,669   $ 7,242   $ 6,165          
                                 
    Past Due Loans 30-89 Days $ 4,523   $ 3,735   $ 4,311   $ 9,388   $ 5,672          
    Classified Loans   28,623     19,194     19,896     25,501     25,566          
                                 
    Nonperforming Loans as a % of Loans HFI   0.25 %   0.16 %   0.24 %   0.25 %   0.21 %        
    NPAs as a % of Loans HFI and Other Real Estate   0.25 %   0.17 %   0.25 %   0.27 %   0.23 %        
    NPAs as a % of Total Assets   0.15 %   0.10 %   0.15 %   0.17 %   0.15 %        
                                 
    (1)Recorded in other liabilities                            
    (2)Annualized                            
     
    CAPITAL CITY BANK GROUP, INC.                                                                                        
    AVERAGE BALANCE AND INTEREST RATES                                                                                        
    Unaudited                                                                                                    
                                                                                                         
        Second Quarter 2025     First Quarter 2025     Fourth Quarter 2024     Third Quarter 2024     Second Quarter 2024       June 2025 YTD     June 2024 YTD  
    (Dollars in thousands)   Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
          Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
     
    ASSETS:                                                                                                    
    Loans Held for Sale $ 22,668   $ 475   8.40 % $ 24,726   $ 490   8.04 % $ 31,047   $ 976   7.89 % $ 24,570     720   7.49 % $ 26,281   $ 517   5.26 %   $ 23,692   $ 965   8.21 % $ 26,797   $ 1,080   5.62 %
    Loans Held for Investment(1)   2,652,572     40,436   6.11     2,665,910     40,029   6.09     2,677,396     40,521   6.07     2,693,533     40,985   6.09     2,726,748     40,683   6.03       2,659,204     80,465   6.10     2,727,688     80,879   5.99  
                                                                                                         
    Investment Securities                                                                                                    
    Taxable Investment Securities   1,006,514     6,666   2.65     981,485     5,802   2.38     914,353     4,688   2.04     907,610     4,148   1.82     918,989     3,998   1.74       994,068     12,468   2.52     935,658     8,237   1.76  
    Tax-Exempt Investment Securities(1)   1,467     17   4.50     845     9   4.32     849     9   4.31     846     10   4.33     843     9   4.36       1,158     26   4.43     850     18   4.35  
                                                                                                         
    Total Investment Securities   1,007,981     6,683   2.65     982,330     5,811   2.38     915,202     4,697   2.04     908,456     4,158   1.82     919,832     4,007   1.74       995,226     12,494   2.52     936,508     8,255   1.76  
                                                                                                         
    Federal Funds Sold and Interest Bearing Deposits   348,787     3,909   4.49     320,948     3,496   4.42     298,255     3,596   4.80     256,855     3,514   5.44     262,419     3,624   5.56       334,944     7,405   4.46     201,454     5,517   5.51  
                                                                                                         
    Total Earning Assets   4,032,008   $ 51,503   5.12 %   3,993,914   $ 49,826   5.06 %   3,921,900   $ 49,790   5.05 %   3,883,414   $ 49,377   5.06 %   3,935,280   $ 48,831   4.99 %     4,013,066   $ 101,329   5.09 %   3,892,447   $ 95,731   4.94 %
                                                                                                         
    Cash and Due From Banks   65,761               73,467               73,992               70,994               74,803                 69,593               75,283            
    Allowance for Credit Losses   (30,492 )             (30,008 )             (30,107 )             (29,905 )             (29,564 )               (30,251 )             (29,797 )          
    Other Assets   302,984               297,660               293,884               291,359               291,669                 300,336               293,473            
                                                                                                         
    Total Assets $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    LIABILITIES:                                                                                                    
    Noninterest Bearing Deposits $ 1,342,304             $ 1,317,425             $ 1,323,556             $ 1,332,305             $ 1,346,546               $ 1,329,933             $ 1,345,367            
    NOW Accounts   1,225,697   $ 3,750   1.23 %   1,249,955   $ 3,854   1.25 %   1,182,073   $ 3,826   1.29 %   1,145,544   $ 4,087   1.42 %   1,207,643   $ 4,425   1.47 %     1,237,759   $ 7,604   1.24 %   1,204,337   $ 8,922   1.49 %
    Money Market Accounts   431,774     2,340   2.17     420,059     2,187   2.11     422,615     2,526   2.38     418,625     2,694   2.56     407,387     2,752   2.72       425,949     4,527   2.14     380,489     4,737   2.50  
    Savings Accounts   507,950     174   0.14     507,676     176   0.14     504,859     179   0.14     512,098     180   0.14     519,374     176   0.14       507,813     350   0.14     529,374     364   0.14  
    Time Deposits   172,982     1,141   2.65     170,367     1,166   2.78     167,321     1,235   2.94     163,462     1,262   3.07     160,078     1,226   3.08       171,682     2,307   2.71     149,203     2,150   2.90  
    Total Interest Bearing Deposits   2,338,403     7,405   1.27     2,348,057     7,383   1.28     2,276,868     7,766   1.36     2,239,729     8,223   1.46     2,294,482     8,579   1.50       2,343,203     14,788   1.27     2,263,403     16,173   1.44  
    Total Deposits   3,680,707     7,405   0.81     3,665,482     7,383   0.82     3,600,424     7,766   0.86     3,572,034     8,223   0.92     3,641,028     8,579   0.95       3,673,136     14,788   0.81     3,608,770     16,173   0.90  
    Repurchase Agreements   22,557     156   2.78     29,821     164   2.23     28,018     199   2.82     27,126     221   3.24     26,999     217   3.24       26,169     320   2.47     26,362     418   3.19  
    Other Short-Term Borrowings   10,503     179   6.82     7,437     117   6.39     6,510     83   5.06     2,673     52   7.63     6,592     68   4.16       8,978     296   6.64     5,176     107   4.16  
    Subordinated Notes Payable   51,981     530   4.03     52,887     560   4.23     52,887     581   4.30     52,887     610   4.52     52,887     630   4.71       52,432     1,090   4.13     52,887     1,258   4.70  
    Other Long-Term Borrowings   792     5   2.41     794     11   5.68     794     11   5.57     795     11   5.55     258     3   4.31       793     16   4.04     270     6   4.56  
    Total Interest Bearing Liabilities   2,424,236   $ 8,275   1.37 %   2,438,996   $ 8,235   1.37 %   2,365,077   $ 8,640   1.45 %   2,323,210   $ 9,117   1.56 %   2,381,218   $ 9,497   1.60 %     2,431,575   $ 16,510   1.37 %   2,348,098   $ 17,962   1.54 %
                                                                                                         
    Other Liabilities   76,138               65,211               73,130               73,767               72,634                 70,705               70,464            
                                                                                                         
    Total Liabilities   3,842,678               3,821,632               3,761,763               3,729,282               3,800,398                 3,832,213               3,763,929            
    Temporary Equity                               6,763               6,443               6,493                               6,821            
                                                                                                         
    SHAREOWNERS’ EQUITY:   527,583               513,401               491,143               480,137               465,297                 520,531               460,656            
                                                                                                         
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    Interest Rate Spread     $ 43,228   3.75 %     $ 41,591   3.69 %     $ 41,150   3.59 %     $ 40,260   3.49 %     $ 39,334   3.38 %       $ 84,819   3.72 %     $ 77,769   3.40 %
                                                                                                         
    Interest Income and Rate Earned(1)       51,503   5.12         49,826   5.06         49,790   5.05         49,377   5.06         48,831   4.99           101,329   5.09         95,731   4.94  
    Interest Expense and Rate Paid(2)       8,275   0.82         8,235   0.84         8,640   0.88         9,117   0.93         9,497   0.97           16,510   0.83         17,962   0.93  
                                                                                                         
    Net Interest Margin     $ 43,228   4.30 %     $ 41,591   4.22 %     $ 41,150   4.17 %     $ 40,260   4.12 %     $ 39,334   4.02 %       $ 84,819   4.26 %     $ 77,769   4.01 %
                                                                                                         
    (1)Interest and average rates are calculated on a tax-equivalent basis using a 21% Federal tax rate.                                                                  
    (2)Rate calculated based on average earning assets.                                                                       

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