NewzIntel.com

Category: Politics

  • MIL-OSI USA: Shaheen Leads New Hampshire Congressional Delegation In Urging Trump to Halt Planned Tariffs on Canada and Mexico, Citing Likelihood of Increasing Energy and Food Prices for Families in the Middle of Winter

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH), alongside Representatives Chris Pappas (NH-01) and Maggie Goodlander (NH-02), are sending a letter to President Donald Trump urging him not to impose 25 percent tariffs on Canada, the Granite State’s largest trading partner, and Mexico. Sweeping tariffs would dramatically increase costs for families in New Hampshire and around the nation. Home heating oil is New Hampshire’s largest import from Canada, and these tariffs are estimated to drive up energy prices for families in the middle of winter. It would also increase costs for essential items like groceries, housing, cars and more. Click here to read the full letter.
    In part, the delegation wrote: “During your campaign, you promised to ‘bring down the price of everything.’ Despite that promise, sweeping tariffs would be a tax on Americans that raises the cost of everything from cars and gas to housing and groceries. Tariff costs would be passed on to our consumers and businesses through higher costs for goods and services.”
    They continued: “For the more than 350,000 households in New Hampshire who rely on heating oil, propane and wood to keep their homes warm and comfortable, adding these costs would be particularly cruel in the middle of a winter that has seen recent temperatures reach 20 below zero. Home heating oil is New Hampshire’s largest import from Canada, not because we don’t produce enough in the United States, but because it makes logistical and economic sense. The National Energy & Fuels Institute (NEFI), which represents wholesale and retail liquid heating fuel distributors throughout the Northeast, estimates that tariffs could increase heating costs by at least $375 per winter for a home in New Hampshire.”
    They concluded: “These taxes would raise families’ grocery bills, too. The type of broad tariffs you’ve proposed could raise food costs by $200 per year for the average household. That’s because the U.S. imports 38 percent of our fresh vegetables, 60 percent of our fresh fruit, and more than 99 percent of our coffee. This is the last thing families need when they’re already struggling with record high prices for eggs or coffee […] We urge you to focus on bringing down prices and reconsider the wisdom of placing sweeping tariffs on imports that would raise prices for our constituents.”
    Earlier this year, Shaheen introduced new legislation with U.S. Senators Ron Wyden (D-OR) and Tim Kaine (D-VA) to shield American businesses and consumers from rising prices imposed by tariffs on imported goods into the United States. The Senators’ legislation would keep costs down for imported goods by limiting the authority of the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools. 
    After the November election, a multitude of business leaders verified that, if the President placed sweeping tariffs as promised, they’d be forced to raise prices on consumers. The CEO of Best Buy said, “the vast majority of that tariff will probably be passed on to the consumer as a price increase.” The CFO of Walmart said, “there will probably be cases where prices will go up for consumers.” The CEO of Columbia Sportswear said, “we’re set to raise prices” and “it’s going to be very, very difficult to keep products affordable.” The CEO of AutoZone said, “if we get tariffs, we will pass those tariff costs back to the consumer.” The President of a Texas-based Lipow Oil Associates  said, “The prices at the pump are going to go up.”

    MIL OSI USA News –

  • MIL-OSI USA: Shaheen Addresses New Hampshire Sea Grant’s Annual Research Symposium, Highlights Importance of Federal Funding for Coastal Communities

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Durham, NH) – Today, U.S. Senator Jeanne Shaheen (D-NH), former Chair and now senior member of the U.S. Senate Commerce, Justice and Science Appropriations Subcommittee, delivered remarks at New Hampshire Sea Grant’s Annual Research Symposium and highlighted the importance of federal funding for coastal communities. The New Hampshire Sea Grant Research Symposium is a showcase of recent projects which are supported by federal funding through the National Oceanic and Atmospheric Administration (NOAA)’s National Sea Grant College Program. The event provides a forum to discuss putting scientific research into action through applied research, education and engagement in local communities. You can view photos from the event here.
    “Sea Grant is a key driver of efforts to protect our coast that not only strengthens the health of our coastal areas, but also informs and improves how we utilize coastal resources to benefit our local communities and the coastal economy,” said Senator Shaheen. “Unfortunately, the current administration’s efforts to cut grants and loans that these communities rely on has caused chaos and panic, while fueling uncertainty about the future of these programs. We need to be focused on creating jobs and strengthening our economy, not gutting programs that help to do just that.”
    Based at the University of New Hampshire since 1980, New Hampshire Sea Grant is one of 34 Sea Grant programs in the U.S. under the umbrella of the National Oceanic and Atmospheric Administration (NOAA)’s National Sea Grant College Program. New Hampshire Sea Grant works to support a coastal environment that sustains healthy ecosystems, economies and people through integrated research, extension, education and communications efforts.
    As a senior member and former Chair of the U.S. Senate Commerce, Justice and Science Appropriations Subcommittee, Shaheen has long advocated for robust funding for the Sea Grant account, which directly supports the New Hampshire Sea Grant program. In the fiscal year (FY) 2024 government funding bill, Shaheen helped secure $80 million for the National Sea Grant College Program which directly funds the New Hampshire Sea Grant program. She also worked across party lines to secure, within that funding,  $2 million for lobster research, $1 million to train young fishermen and $1 million to support research into the impacts of PFAS and other emerging contaminants, efforts that will help ensure that New Hampshire’s coastal economy remains strong for future generations.

    MIL OSI USA News –

  • MIL-OSI Security: Arizona Couple Pleads Guilty to $1.2B Health Care Fraud

    Source: United States Attorneys General 7

    An Arizona couple pleaded guilty for causing over $1.2 billion of false and fraudulent claims to be submitted to Medicare and other health insurance programs for expensive, medically unnecessary wound grafts that were applied to elderly and terminally ill patients.

    According to court documents, Alexandra Gehrke, 39, and her husband, Jeffrey King, 46, both of Phoenix, conspired with others to orchestrate the massive scheme. Gehrke ran two companies, Apex Medical LLC and Viking Medical Consultants LLC, that contracted with medically untrained “sales representatives” to locate elderly patients, including hospice patients, who had wounds at any stage and order amniotic wound grafts from a specific graft distributor. Gehrke instructed and financially incentivized the sales representatives to order grafts only in sizes 4×6 centimeters or larger, even if the wound was much smaller, to maximize health insurance reimbursement. Gehrke, through companies she owned and controlled, received over $279 million in illegal kickbacks from the distributor of the grafts in exchange for the orders. Gehrke in turn paid the sales representatives tens of millions of dollars in unlawful kickbacks. Gehrke then referred the patients to a company co-owned by King, which contracted with nurse practitioners to apply the grafts. King’s company fraudulently billed Medicare, TRICARE (the health care program for U.S. service members and their families), CHAMPVA (the health care program for spouses and children of permanently disabled veterans), and commercial insurance plans for the grafts. Gehrke and King, who had no medical training, directed the nurse practitioners to suspend their own medical judgment and apply all grafts ordered by the sales representatives, even when medically unreasonable and unnecessary, which resulted in the application of grafts to infected wounds, wounds that had already healed, and wounds that were not responding to the grafts.

    From November 2022 through May 2024, Gehrke, King, and others, through companies they owned, operated, and controlled, submitted $1,212,005,778 in false and fraudulent claims to health insurance plans. This included over $960 million in false and fraudulent claims to the federal health care programs — Medicare, TRICARE, and CHAMPVA. The federal and private health care insurers paid $614,990,420 based on the false and fraudulent claims.

    In their plea agreements, Gehrke and King agreed to pay restitution in the amounts of $614,990,420 and $605,690,110, respectively. They also agreed collectively to forfeit over $410 million in funds that they obtained from the fraud. To date, the government has seized nearly $100 million in assets that Gehrke and King accumulated from the scheme, including bank account balances exceeding $68 million, four luxury vehicles valued over $980,000, $22 million of life insurance annuities, and jewelry and precious metals.

    Gehrke pleaded guilty on Oct. 24, 2024, to conspiracy to commit health care fraud and wire fraud. She is scheduled to be sentenced on Feb. 11 and faces a maximum penalty of 20 years in prison. King pleaded guilty on Jan. 31 to conspiracy to commit health care fraud and wire fraud and faces a maximum penalty of 20 years in prison. His sentencing date has not yet been scheduled. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division; U.S. Attorney Gary M. Restaino for the District of Arizona; Acting Special Agent in Charge Sean Burke of the FBI Atlanta Field Office; Deputy Inspector General Christian J. Schrank of the Department of Health and Human Services Office of Inspector General (HHS-OIG); Director Kelly Mayo of the Department of Defense Office of Inspector General, Defense Criminal Investigative Service (DCIS); and Special Agent in Charge Kris Raper of the Department of Veterans Affairs Office of Inspector General (VA-OIG) South Central Field Office made the announcement.

    The FBI, HHS-OIG, DCIS, and VA-OIG investigated the case.

    Trial Attorney Shane Butland of the National Rapid Response Strike Force of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Matthew Williams for the District of Arizona are prosecuting the case.

    The Fraud Section leads the Criminal Division’s efforts to combat health care fraud through the Health Care Fraud Strike Force Program. Since March 2007, this program, currently comprised of nine strike forces operating in 27 federal districts, has charged more than 5,800 defendants who collectively have billed federal health care programs and private insurers more than $30 billion. In addition, the Centers for Medicare & Medicaid Services, working in conjunction with HHS-OIG, are taking steps to hold providers accountable for their involvement in health care fraud schemes. More information can be found at www.justice.gov/criminal-fraud/health-care-fraud-unit.

    MIL Security OSI –

  • MIL-OSI USA: Bipartisan Lawmakers Introduce Bicameral Resolution to Keep All Options on the Table to Counter a Nuclear-Armed Iran

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham
    WASHINGTON – U.S. Senators Lindsey Graham (R-South Carolina), John Fetterman (D-Pennsylvania) and Katie Britt (R-Alabama) along with U.S. Representatives Jared Moskowitz (D-Florida-23) and Mike Lawler (R-New York-17) this week introduced a bipartisan, bicameral resolution to affirm that the United States, Israel and our allies and partners should keep all options on the table in order to counter and contain the threat from a nuclear-armed Iranian regime.
    “If the Iranian Ayatollah and his henchman obtain a nuclear weapon, it would be one of the most destabilizing and dangerous events in world history. They are trying to acquire a nuclear weapon as part of their religious agenda to purify their faith, destroy the Jewish State, and drive Westerners out of the Middle East. A nuclear-armed Iran is an existential threat to Israel and a nightmare for the world,” said Senator Graham. “This resolution clearly demonstrates that the Iranian regime is lying when it says they only want nuclear power and not a nuclear weapon. This is not an authorization for the use of military force, but a resolution establishing the truth regarding Iran’s nuclear intentions and capability.”
    Senator Graham continued, “Finally, I’d like to recognize the leadership of my colleagues, Senators Fetterman and Britt and Representatives Moskowitz and Lawler, on the issue of countering a nuclear-armed Iran. They understand the serious implications for the world if Iran were to obtain such a weapon. It speaks volumes that members from across the political spectrum are united on this front. I look forward to having a debate and vote in the United States Senate on our resolution.”
    “Iran’s pursuit of nuclear weapons is a threat we cannot ignore. The United States, Israel, and our allies cannot afford to sit back while the Iranian regime continues down this dangerous path,” said Senator Fetterman. “This resolution sends an unmistakable message: all options are on the table to prevent a nuclear-armed Iran.”
    “Iran’s continued pursuit of nuclear weapons poses a clear threat to the US, Israel, and our allies. Now more than ever, we must stand up to Iran and use every tool in our toolbox to address these threats,” said Senator Britt. “Peace is achieved through strength, and our resolution sends an important bipartisan message to Iran that the U.S. will not tolerate Tehran’s aggression.”
    “Allowing Iran to maintain and build a nuclear program is an existential threat to the United States, Israel, and global stability,” said Representative Moskowitz. “As the Iranian regime continues its dangerous attempts at nuclear expansion, leaders have to call this out for what it is: an unacceptable escalation in the Middle East and a national security threat against the United States and our allies. Iran must dismantle its nuclear program now. This resolution makes clear the United States won’t stand for anything less and will consider all options to protect our national security. We must send a clear, bipartisan message that we stand with our ally Israel and that a continued nuclear program in Iran is an absolute nonstarter.”
    “An Iran that has nuclear weapons is unacceptable and a danger not only to our closest ally, Israel, but also to the whole world,” said Representative Lawler. “We must keep all options on the table when it comes to dealing with this unprecedented situation, and I’m glad to be working in a bipartisan fashion with Senators Graham, Fetterman, and Britt, as well as my friend Congressman Moskowitz, to make evident to Iran what the grave consequences of their actions would be.”
    This resolution:
    Affirms that the Islamic Republic of Iran’s continued pursuit of a nuclear weapons capability is:
    A credible threat to the United States; and
    An existential threat to Israel and other allies and partners in the Middle East.
    Asserts all options should be considered to address the nuclear threat the Islamic Republic of Iran poses to the United States, Israel, and our allies and partners.
    Demands the Islamic Republic of Iran to immediately cease engaging in any and all activities that threaten the national security interests of the United States, Israel, and our allies and partners, including:
    Enriching uranium;
    Developing or possessing delivery vehicles capable of carrying nuclear warheads; and
    Developing or possessing a nuclear warhead
    To read the full resolution text, click HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Hoskins Clarifies Ineligibility of St. Louis ‘Gateway Card’ for Voting Purposes

    Source: US State of Missouri

     

     

    For Immediate Release:   January 31, 2025

               

    Missouri Secretary of State Denny Hoskins 
    Clarifies Ineligibility of St. Louis ‘Gateway Card’ for Voting Purposes

    JEFFERSON CITY, MO – Missouri Secretary of State Denny Hoskins today issued a statement to inform residents that the recently introduced ‘Gateway Card’ by the City of St. Louis cannot be used as valid identification for voting in state elections.

    “While the Gateway Card may serve as a valuable municipal identification for St. Louis residents, it does not meet the state’s requirements for voter identification,” Secretary Hoskins stated. “To ensure the integrity of our elections, it’s crucial that all voters continue to present an acceptable form of photo ID at the polls.”

    According to Missouri law, RSMo 115.427, acceptable forms of voter identification include:

    • A non-expired Missouri driver’s license or non-driver’s license;
    • A non-expired military ID, including a veteran’s ID card;
    • A non-expired United States passport; or
    • Another photo ID issued by the United States or the state of Missouri which is either not expired or expired after the date of the most recent general election.

    Voters who do not possess an acceptable form of identification are still permitted to cast a provisional ballot. The provisional ballot will be counted if the voter returns to the polling place with valid identification during polling hours or if the election authority verifies the individual’s identity by comparing their signature to the one on file.

    For more information on voter identification requirements and assistance in obtaining an acceptable ID, please visit the Missouri Secretary of State’s website at https://www.sos.mo.gov/voterid or contact the office at (573) 751-4936.

    “Our goal is to ensure that every eligible Missourian has the opportunity to vote while maintaining the security and integrity of our elections,” added Secretary Hoskins.

     

    About the Office of the Missouri Secretary of State

    The Secretary of State’s office is responsible for overseeing elections, maintaining public records, and providing business services to the citizens of Missouri. For more information, visit Phone: (573) 526-0949
    Email: [email protected]

    MIL OSI USA News –

  • MIL-OSI USA: Former Senior Adviser for the Federal Reserve Indicted on Charges of Economic Espionage

    Source: US State of North Dakota

    John Harold Rogers, 63, of Vienna, Virginia, a former Senior Adviser for the Federal Reserve Board of Governors (FRB), was arrested today on charges that he conspired to steal Federal Reserve trade secrets for the benefit of the People’s Republic of China (PRC).

    In furtherance of the conspiracy, allegedly made false statements to the Office of Inspector General for the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau (FRB-OIG), and those false statements had a material impact on its investigation.

    “As alleged, the defendant violated the trust placed in him by the Federal Reserve Bank by putting U.S. trade secrets in the hands of his PRC co-conspirators, knowing full well that such information would benefit the PRC Government and PRC instrumentalities,” said Devin DeBacker, head of the Justice Department’s National Security Division. “The Justice Department will continue to use all the tools at its disposal to disrupt economic espionage and protect our national security.”

    “President Trump tasks us with protecting our fellow Americans from all enemies, foreign and domestic. As alleged in the indictment, this defendant leveraged his position within the Federal Reserve to pass sensitive financial information to the Chinese government, a designated adversary,” said U.S. Attorney Edward R. Martin Jr. for the District of Columbia. “Let this indictment serve as a warning to all who seek to betray or exploit the United States: law enforcement will find you and hold you accountable.”

    “As alleged in the indictment, Rogers betrayed his country while employed at the Federal Reserve by providing restricted U.S. financial and economic information to Chinese government intelligence officers,” said Assistant Director Kevin Vorndran of the FBI Counterintelligence Division. “This information could allow adversaries to illegally gain a strategic economic advantage at the expense of the U.S. This indictment sends a clear message that the FBI and our partners will hold accountable those who threaten our national security.”

    “The Chinese Communist Party has expanded its economic espionage campaign to target U.S. government financial policies and trade secrets in an effort to undermine the United States and become the sole superpower,” said Assistant Director in Charge David Sundberg of the FBI Washington Field Office. “Today’s indictment represents the FBI’s unwavering commitment to protect U.S. national security interests and U.S. jobs and bring to justice those who are willing to betray their country for personal gain.”

    “This indictment sends a clear message that those who deliberately misuse sensitive Federal Reserve information for their own personal gain and lie about it to investigators will be held accountable for their actions,” said Special Agent in Charge John T. Perez of the FRB-OIG, Headquarters Operations.

    According to the indictment, Rogers, a U.S. citizen with a Ph.D. in economics, worked as a Senior Adviser in FRB’s Division of International Finance of the FRB from 2010 until 2021, where he was entrusted with confidential FRB information. The confidential information that Rogers allegedly shared with his Chinese co-conspirators, who worked for the intelligence and security apparatus of China and who posed as graduate students at a PRC university, is economically valuable when secret.

    China holds a large amount of U.S. foreign debt (approximately $816 billion as of October 2024). The data Rogers shared with his co-conspirators could allow China to manipulate the U.S. market, in a manner similar to insider trading. Gaining advance knowledge of U.S. economic policy, including advance knowledge of changes to the federal funds rate, could provide China with an advantage when selling or buying U.S. bonds or securities.

    The indictment alleges that, from at least 2018, Rogers allegedly exploited his employment with the FRB by soliciting trade-secret information regarding proprietary economic data sets, deliberations about tariffs targeting China, briefing books for designated governors, and sensitive information about Federal Open Market Committee (FOMC) deliberations and forthcoming announcements. He passed that information electronically to his personal email account, in violation of FRB policy, or printed it prior to traveling to China, in preparation for meetings with his co-conspirators.

    Under the guise of teaching “classes,” Rogers met with his co-conspirators in hotel rooms in China where he conveyed sensitive, trade-secret information that belonged to the FRB and the FOMC. In 2023, Rogers was paid approximately $450,000 as a part-time professor at a Chinese university.

    On Feb. 4, 2020, in response to questioning by the FRB-OIG, Rogers lied about his accessing and passage of sensitive information and his associations with his co-conspirators.

    Rogers is charged with conspiracy to commit economic espionage and with making false statements.

    The FBI Washington Field Office and FRB-OIG are investigating the case.

    Assistant U.S. Attorney Kimberly Paschall for the District of Columbia and Trial Attorneys Nicholas Hunter and Steve Marzen of the National Security Division’s Counterintelligence and Export Section are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI USA: Sen. Chuck Hufstetler: January Under the Gold Dome

    Source: US State of Georgia

    The Georgia General Assembly is back in session and it is a privilege to return to work under the Gold Dome, where I remain steadfast in my commitment to addressing the issues that matter most to Georgians across our great state.

    This legislative session is already off to a strong start. Governor Kemp has laid out a bold vision, focusing on initiatives that include increasing funding for school safety, enhancing our skilled workforce, announcing 100,000 million dollars in relief for families and businesses impacted by Hurricane Helene, and continuing to expand access to affordable healthcare for hardworking Georgians. By investing in high-demand, high-skill, and high-wage career opportunities, we are taking critical steps to secure Georgia’s economic future.

    After an uneventful week due to the snowfall in Atlanta and South Georgia, this week concludes the third week of the 2025 Legislative Session, and we’re staying focused on passing commonsense legislation that puts Georgia families, businesses and communities first.

    Last week’s snowstorm may have delayed budget hearings for a few days, but it didn’t slow us down. The General Assembly has been hard at work in joint sessions, carefully reviewing budget requests to ensure taxpayer dollars are spent wisely. Passing a balanced budget is not only our constitutional duty—it’s the foundation of a responsible government that serves its people.

    One of the most crucial budget proposals this session is Governor Brian P. Kemp’s plan to return $1 billion in surplus funds directly to taxpayers. Thanks to years of conservative budgeting and fiscal responsibility, we’re in a position to give back to the hardworking Georgians who keep our state running. This is just part of the $2.2 billion in statewide allocations designed to benefit families, businesses and communities across Georgia. I’m proud to support Gov. Kemp’s efforts to strengthen our economy by putting more money back in your pockets.

    Another key priority is ensuring communities hit hardest by Hurricane Helene have the resources they need to rebuild. Gov. Kemp has proposed $614.72 million in recovery funding, including $150 million for the Governor’s Emergency Fund to help with debris removal and housing assistance. Another $300 million will go to the Georgia Department of Transportation to restore roads and infrastructure. Many rural counties are still reeling from this storm, and we’re committed to making sure they get the support they need to recover and move forward.

    Back at the Capitol, we hit the ground running this week, advancing legislation that reflects our values and priorities. I’m especially proud to sponsor Senate Bill 34. I introduced Senate Bill 34 in anticipation of technology companies building AI databases in Georgia. AI databases use exorbitant amounts of electricity, and I have introduced this bill to prevent electric providers from including the electric fees of these databases in typical Georgia consumer rates.

    I am honored to be re-appointed as Chairman of the Senate Committee on Finance and Ex-Officio of the Senate Committee on Appropriations, in addition to serving as a member on the Senate Committees on Health and Human Services, Higher Education and Rules. I thank Lt. Governor Jones for these appointments, and I look forward to serving District 52 and Georgia on these committees

    Finally, I encourage students ages 12 to 18 to apply for the Senate Page Program. This is an excellent way for young people to see firsthand how the General Assembly works. If you know a student who might be interested, they can apply on the Senate website here.

    As always, I’m here to listen. If you have any questions, concerns, or ideas about our work at the Capitol, please don’t hesitate to reach out. It’s an honor to serve you, and I appreciate your trust as we work together throughout the remainder of the 2025 legislative session.

    # # # #

    Sen. Chuck Hufstetler serves as Chairman of the Senate Committee on Finance. He represents the 52nd Senate District which includes portions of Bartow, Floyd, and Gordon counties. He can be reached at (404) 656-0034 or via email at chuck.hufstetler@senate.ga.gov.

    For all media inquiries, please reach out to     SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Cornyn to Support Tulsi Gabbard for DNI

    US Senate News:

    Source: United States Senator for Texas John Cornyn
    WASHINGTON – Following yesterday’s nomination hearing in the U.S. Senate Select Committee on Intelligence, U.S. Senator John Cornyn (R-TX) released the following statement announcing his intention to support Tulsi Gabbard’s nomination to be Director of National Intelligence (DNI) under the Trump administration:
    “Article II, Section 2, Clause 2 provides that the President shall appoint officers with the advice and consent of the Senate. Having won the election decisively, I believe President Trump has earned the right to appoint his own cabinet, absent extraordinary circumstances. Therefore, it is my intention to consent to the appointment of Tulsi Gabbard as Director of National Intelligence.”

    MIL OSI USA News –

  • MIL-OSI USA: DOE Announces $7.1 Million in Support of Local Energy Project Planning, Siting and Permitting

    Source: US Office of Energy Efficiency and Renewable Energy

    WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today announced the selection of four projects totaling $7.1 million to expand a program that improves planning, siting, and permitting processes for large-scale renewable energy and energy storage facilities across the United States. The collaborative teams formed through these projects, as well as 12 previously selected under the Renewable Energy Siting through Technical Engagement and Planning (R-STEP™) program, will develop and expand statewide initiatives that provide expertise, trainings, and technical resources to local governments, Tribal governments, and communities as they plan for and evaluate large-scale renewable energy and energy storage projects. 
    A significant portion of large-scale renewable energy and energy storage projects built in the coming years are likely to be built on private lands, where state and local authorities make permitting decisions. The state-based R-STEP collaboratives will evaluate the needs of stakeholders in their regions and develop tailored educational materials and technical assistance programs to improve planning and streamline project reviews and permit decisions. This will result in renewable energy and energy storage projects that contribute to strong local economies, resilient energy systems, and lower energy costs for households and businesses, especially in rural or underserved communities.
    The R-STEP collaboratives bring together stakeholders from all sides of the energy planning process, including state and regional agencies, universities, developers, technical experts, public service commissions, farmers unions, tribes, community organizations, and other trusted entities. 

    The four newly selected collaboratives are:

    Illinois: Led by University of Illinois Extension, the collaborative will build and maintain a cohort of trusted technical assistance providers in each county to help communities make informed decisions about renewable energy projects. The work will focus on developing education and outreach materials to support proactive decision-making by communities and local government officials. (Award amount: $1.9 million)
    Louisiana: Led by the Louisiana Department of Natural Resources, the collaborative will engage a diverse array of community partners in Louisiana to inform state agencies’ planning and decision-making for offshore wind facilities in state waters. (Award amount: $1.9 million)
    Minnesota: Led by University of Minnesota Extension, the collaborative will engage diverse stakeholders to assess needs, expand technical assistance services, and maintain training and educational resources to expand local officials’ capacity to engage constructively in planning, siting, and permitting for large-scale renewable energy projects. (Award amount: $1.2 million)
    Virginia: Led by the Virginia Department of Energy, the collaborative will create a centralized, stakeholder-informed hub to provide resources and access to trusted experts to increase knowledge about energy fundamentals, economic development, environmental regulations and best practices, and planning for large-scale renewable energy development. (Award amount: $1.9 million)

    DOE is currently seeking experts to provide technical assistance to the R-STEP collaboratives. Organizations with expertise on key renewable energy and energy storage planning, siting, and permitting topics are encouraged to learn more and apply by Jan. 9, 2025, at 3 p.m. ET.
    Learn more about the selected state-based collaboratives. 
    Learn more about large-scale renewable energy siting.
    R-STEP is funded by DOE’s Solar Energy Technologies Office and Wind Energy Technologies Office.
    The R-STEP program is administered by ENERGYWERX. This funding mechanism is made possible through the innovative Partnership Intermediary Agreement set up by DOE’s Office of Technology Transitions.
    Selection for award negotiations is not a commitment by DOE to issue an award or provide funding. Before funding is issued, DOE and the applicant will undergo a negotiation process, and DOE may cancel negotiations and rescind the selection for any reason during that time. DOE award amounts are subject to change pending negotiations.

    The R-STEP program has announced state-based collaborations supporting: Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Louisiana, Michigan, Minnesota, Mississippi, North Carolina and South Carolina, Oklahoma, Pennsylvania, Virginia, Washington, and Wisconsin.

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Department of Energy Announces $6.9 Million in Projects to Support Effective Community Waste-to-Energy Strategies for Local Transportation Needs

    Source: US Office of Energy Efficiency and Renewable Energy

    The U.S. Department of Energy’s (DOE) Bioenergy Technologies Office (BETO) and Vehicle Technologies Office (VTO) announced $6.9 million in funding for nine projects to support local waste-to-energy management solutions for transportation energy needs. Located across six states, these selected projects will help sustainably manage and recover potential clean energy sources from local community waste streams using innovative and cost-effective technologies to produce low-carbon biofuels.
    Organic waste streams from food waste, municipal wastewater sludge and solid waste, and manure are a key feedstock for producing biofuels and bioproducts. However, these waste streams represent one of the largest sources of greenhouse gas emissions and contribute to water, soil and air quality pollution. In addition, waste management costs for treatment, stabilization, hauling and disposal are considerable, and municipal landfills can contaminate soil and water. This funding will support local communities plan and identify waste-to-energy solutions for their waste streams, and also help reduce other impacts associated with waste collection and landfilling, including reducing heavy vehicle traffic, odors, and litter.
    “Organic waste management presents economic, environmental and health burdens for communities across the United States,” said Jeff Marootian, principal deputy assistant secretary for DOE’s Office of Energy Efficiency and Renewable Energy. “By advancing novel technologies to convert this waste into valuable energy resources, these collaborative investments will help solve local waste management challenges and support a more secure and resilient future.”
    Recognizing that local communities may be at different stages in their sustainable waste management planning efforts, the selected projects will address the above waste-to-energy needs through two topic areas:

    Topic Area 1: Feasibility Study Development Analyses 
    Topic Area 2: Design Work and Experimental Validation 

    This funding will benefit communities and transit authorities with waste-to-energy solutions and support the Federal government’s commitment to developing cutting-edge technologies that create jobs for our local communities and achieve a secure energy future. 
    Read more about these selectees and their projects, and visit BETO’s funding opportunities and VTO’s funding opportunities webpages for other upcoming funding opportunities.

    MIL OSI USA News –

  • MIL-OSI USA: DOE Launches Second Round of Prize Supporting Grassroots Energy Innovation in Underrepresented Communities

    Source: US Office of Energy Efficiency and Renewable Energy

    The U.S. Department of Energy (DOE) today announced the second round of the Community Energy Innovation Prize, a multi-million-dollar competition supporting grassroots innovation, entrepreneurship, capacity building, and economic development in communities historically underrepresented in clean energy development.

    Through the three phases of the prize, teams have the chance to win part of the $8.42 million prize pool to fund their ongoing activities that address local challenges in clean energy, energy efficiency, manufacturing, materials, and transportation. Successful competitors will demonstrate a strong track record of building trust and strengthening relationships and partnerships within their communities.
    “The most successful solutions are ones that are led by communities themselves,” said Jeff Marootian, principal deputy assistant secretary for DOE’s Office of Energy Efficiency and Renewable Energy. “With this prize, groups and organizations can receive the guidance and financial support they need to solve local challenges and better the lives of residents through job opportunities, less waste, cleaner air and lower energy bills.”
    The Community Energy Innovation Prize is made up of three tracks, each with distinct focus areas, over three phases: 

    Clean Energy Ecosystem Track. In this track, a total prize pool of $3.22 million will be awarded to up to 12 teams for fostering innovation ecosystems and/or technology deployments through activities focusing on community-centric networks and bottom-up solutions for sustainable development, based on the needs of the communities involved. 
    Manufacturing Ecosystem Track. In this track, a total prize pool of $2.6 million will be awarded to up to 10 teams for developing manufacturing innovation ecosystems across government, industry, academia, national labs, and communities to address key challenges in the development and adoption of emerging materials and manufacturing technologies. 
    Vehicles Ecosystem Track. In this track, a total prize pool of $2.6 million will be awarded to up to 10 teams for supporting the deployment of clean transportation technologies in a manner that promotes access to clean transportation technologies, improves health and air quality outcomes, and lowers the burden of transportation impacts on community members.

    Any eligible team may compete in the first phase, CONCEPT, where applicants form their coalitions and develop project ideas. Up to 32 teams across the three tracks will be selected as CONCEPT phase winners and receive an initial prize amount of $75,000 to $100,000 each, along with in-kind mentorship and other support services. Winning teams in the CONCEPT phase will be eligible to compete in subsequent phases. 
    Applications to compete in the CONCEPT phase for all three tracks are now open. The deadline to submit is June 20, 2025. There will be an informational webinar for prospective applicants in the near future. Follow the prize on HeroX for updates.
    The Community Energy Innovation Prize is jointly sponsored by three offices within DOE’s Office of Energy Efficiency and Renewable Energy: the Integrated Strategies Office, the Advanced Materials and Manufacturing Technologies Office, and the Vehicle Technologies Office. The prize is administered by the National Renewable Energy Laboratory and is part of the American-Made program.

    MIL OSI USA News –

  • MIL-OSI USA: DOE Invests $32 Million for Grid-Edge Technology and Smart Charge Management

    Source: US Office of Energy Efficiency and Renewable Energy

    WASHINGTON, D.C.—Today, the U.S. Department of Energy (DOE) announced $32 million for six selected pilot projects that will support new load growth through grid-edge innovations and the ability of energy providers to right-size grid investments for future load growth. These Connected Communities projects in eight states will also provide new strategies and tools for utilities, grid planners and operators, automakers, electric vehicle (EV) smart charge management service providers, and the communities they serve to improve resilience and reduce costs.
    “Providing low-cost, resilient, and reliable energy to all Americans is a top priority for the DOE,” said Jeff Marootian, principal deputy assistant secretary for DOE’s Office of Energy Efficiency and Renewable Energy. “As our nation’s energy system faces unprecedented demand growth, it’s more important than ever to deploy solutions that maximize all our energy resources and deliver the most efficient, reliable, and affordable electricity possible. These pilot projects will leverage the latest grid-edge solutions—like energy efficiency, demand-responsive building systems, energy storage, EV smart charging, and advanced grid-planning strategies—to equip communities and utilities with the tools and data they need to confidently manage our evolving electric grid.”
    DOE continues to evaluate applications for this funding opportunity and intends to award additional projects up to a total of $65 million, as originally announced, with additional selections as reviews are completed. 
    Connected Communities 2.0 builds on the successes and lessons learned from the first cohort of Connected Communities, launched in 2020, and DOE’s original smart neighborhoods in Georgia and Alabama. The first Connected Communities projects focused on integration of distributed energy resources (DERs) to support a more variable grid. The 2.0 version aims to address growing challenges to the grid head-on, ensuring that necessary upgrades are sized correctly to accommodate increasing loads at vehicle charging locations, data centers, buildings, and industrial sites in a way that leverages the flexibility of these new loads. In the process, DOE is selecting a cohort and collecting data needed to build confidence that the grid is highly flexible and resilient.
    Connected Communities 2.0 centers on two major areas:

    Connected Communities (topic 1), focused on integrated grid-edge technical measures in buildings, industry, and transportation to prepare the electric grid for new loads and improve customer benefits and grid resilience.
    Smart Charge Management (subtopic 1A), focused on various unique urban, suburban, and rural-use cases to build confidence in smart charge management as an effective approach for EVs to provide flexibility and value to the electric grid.

    Three projects have been selected in each area.
    The Connected Communities selectees are:

    The Accelerating Community-wide Connected Electric Loads & Energy Reliability Achieved Through Integration with Nationwide Grid (ACCELERATING) Connectivity initiative (Minnesota), led by the Beneficial Electrification League, will advance a nationally scalable approach for building load management. The project will prioritize partnerships with electric cooperatives in Minnesota that advance communications to optimize residential thermal loads as grid assets. (Award amount: $5.3 million)
    Purdue University (Indiana) will demonstrate pathways for rural electric membership cooperatives to improve energy efficiency and resilience in the face of new load growth in collaboration with the National Rural Electric Cooperative Association. Pathways include engaging with rural communities, piloting financial programs, coordinating DERs through systems, and scaling up lessons learned. (Award amount: $5.9 million)
    The Responsive Energy Communities Harnessing Advanced Grid Efficiency (RECHARGE) initiative (California), led by Pacific Gas & Electric, will target residential units, businesses and industry in the city of San Jose and in the Fresno County. RECHARGE will address the growing electric demand and distribution capacity challenges in these communities. (Award amount: $6 million)

    The Smart Charge Management selectees are:

    One Energy Enterprises (Ohio) will pioneer a community charging depot for medium- and heavy-duty truck fleets, which will integrate advanced microgrid technology and DERs to minimize charging investments, while optimizing the grid. The site will be located in Findlay, Ohio, with plans for expansion to support a larger number of class 6–8 electric trucks. (Award amount: $3.2 million)
    Baltimore Gas & Electric Company (Maryland) will use a multi-faceted distributed energy resource management system to unlock grid-aware managed charging functionality. The project will feature technology that reduces residential EV charging peak loads, decreases infrastructure upgrade costs, and adjusts charging schedules to alleviate grid congestion. (Award amount: $5.9 million)
    EV.Energy (California, Florida, Alaska, Rhode Island, and Hawaii) will demonstrate and validate smart charge management solutions in five diverse utility territories across five different states. Smart charge management approaches will include optimization for renewable energy matching, reduced grid congestion, timer peak smoothing, expanded charging access for multifamily housing, and both vehicle-to-home and vehicle-to-grid technologies.  (Award amount: $6 million)

    The six projects selected today will demonstrate the capabilities of grid-edge technologies and integrated power systems that are efficient, resilient, flexible, and affordable, along with distribution and grid-planning strategies that can be replicated across the United States.
    Integration is essential to Connected Communities, and DOE’s Office of Energy Efficiency and Renewable Energy (EERE) and Office of Electricity are collaborating to support integrated energy system planning with a network of technology offices and industry partners. The Connected Communities 2.0 funding announcement is led by EERE’s Building Technologies Office and Vehicle Technologies Office in collaboration with the Solar Energy Technologies Office, Industrial Efficiency and Decarbonization Office, and Geothermal Technologies Office.

    MIL OSI USA News –

  • MIL-OSI USA: DOE and Commerce Department Sign Memorandum of Understanding to Advance Safe, Secure, and Trustworthy Development and Use of AI

    Source: US Department of Energy

    WASHINGTON, D.C. — The U.S. Department of Energy (DOE) and the U.S. Department of Commerce (DOC), as represented by the National Institute of Standards and Technology (NIST), announced a memorandum of understanding (MOU) signed earlier this year to collaborate on safety research, testing, and evaluation of advanced artificial intelligence (AI) models and systems.  

    This partnership is a key example of the Biden-Harris Administration’s whole-of-government approach to ensuring the safe, secure, and trustworthy development and use of AI. This announcement follows the recent release of the first-ever National Security Memorandum on AI, which designated the U.S. AI Safety Institute (US AISI), which is housed within NIST, as a key hub of the U.S. government’s AI safety efforts and identifies a substantial role for DOE in helping the U.S. government understand and mitigate AI safety risks and improve the performance and reliability of AI models and systems. 

    “There’s no question that AI is the next frontier for scientific and clean energy breakthroughs, which underscores the Biden-Harris Administration’s efforts to push forward scientific innovation in a safe and secure manner” said U.S. Secretary of Energy Jennifer M. Granholm. “Across the federal government we are committed to advancing AI safety and today’s partnership ensures that Americans can confidently benefit from AI-powered innovation and prosperity for years to come.” 

    In addition to facilitating joint research efforts and information sharing, this agreement enables the Department of Energy and its National Laboratories to lend both their technical capacity and their subject matter expertise to the US AISI and NIST. 

    “By empowering our teams to work together, this partnership with the Department of Energy will undoubtedly help the U.S. AI Safety Institute and NIST advance the science of AI safety,” said U.S. Secretary of Commerce Gina Raimondo. “Safety is key to continued innovation in AI, and we have no time to waste in working together across government to develop robust research, testing, and evaluations to protect and advance essential national security priorities.” 

    Through this MOU, the DOE and DOC intend to evaluate the impact of AI models on public safety, including risks to critical infrastructure, energy security, and national security. Key focus areas include developing classified evaluations of advanced AI models’ chemical and biological risks, as well as developing and evaluating evaluate privacy enhancing technologies that aim to protect personal and commercial proprietary data. These efforts, combined with DOE’s AI testbeds, will help lay the foundation for a safe and innovative future for AI. 

    Read the full MOU here. 

    MIL OSI USA News –

  • MIL-OSI USA: Biden-Harris Administration Announces $30 Million to Ease Interconnection Backlog, Deliver More Energy Supply on America’s Power Grid

    Source: US Department of Energy

    WASHINGTON, D.C.— The Biden-Harris Administration, through the U.S. Department of Energy (DOE), today announced up to $30 million available from the Bipartisan Infrastructure Law to accelerate the interconnection process for new energy generation through the introduction of artificial intelligence techniques. The new Artificial Intelligence for Interconnection (AI4IX) program will develop partnerships between software developers, grid operators (including Regional Transmission Operators (RTOs) and Power Marketing Administrations), and energy project developers to modernize the interconnection application process and significantly reduce the time required to review, approve, and commission new generation interconnections across the country. 

    “Artificial intelligence is an energy solution capable of helping clear an interconnection backlog that will free up new energy sources to ensure consumers have power when and where they need it,” said U.S. Secretary of Energy Jennifer M. Granholm. 

    Interconnection queues to connect new generation are not keeping pace with the needs of the grid. Currently, new generation interconnection can take up to seven years and DOE’s recent Queued Up Report shows that active, but unconnected capacity is twice the amount of current connected generation.  

    Interconnection applications are often reviewed manually, creating a labor-intensive process, particularly given that many applications are incomplete or insufficient. Some organizations have indicated that over 90% of interconnection applications they receive are deficient and correcting these applications is a significant cause of long analysis and development delays.   

    Artificial intelligence can help improve applications and improve review. Funded by the Bipartisan Infrastructure Law, under AI4IX, projects will work to apply existing AI algorithms to the interconnection application process to more quickly identify deficient applications and rapidly notify applicants for resolution. For example, AI software trained on a library of accurate documentation and application materials can review interconnection applications for the required site control documentation and flag errors within submitted supporting documents. Documenting site control for interconnection is a particularly challenging issue for project developers due to the different stakeholders, property laws, and grid facility access requirements for each generator project.   

    After identifying application errors, the software would then notify the applicant that their documentation is not sufficient and why, enabling them to quickly respond to the specific issues. By deploying AI, the precision and speed in identifying documentation issues and providing specific reasons to enable timely resolutions or correction can improve over time. Applying AI technology and existing algorithms can accelerate each phase of the interconnection application process. 

    The AI4IX program aligns with DOE’s continued support for improving interconnection queues across the United States. Under the Department’s Grid Resilience and Innovation Partnership (GRIP) Program, DOE is supporting a multi-state project led by GridUnity to deploy AI-enabled software to improve the efficiency of the interconnection process with multiple RTOs covering approximately 60% of the U.S. population—around 210 million people—to enhance energy reliability, security, and lower costs. In addition, DOE’s Office of Energy Efficiency and Renewable Energy is leading the Interconnection Innovation e-Xchange (i2X) Transmission initiative, which convenes diverse groups involved in the interconnection of energy resources to facilitate adoption of best practices and inspire new interconnection ideas and capabilities. In October 2024, the i2X program released a draft roadmap that identifies solutions the interconnection community (including utilities, grid operators, regulators, state and local governments, interconnection customers, energy justice groups, nonprofits, clean energy developers, solution providers, public interest groups) can take within the next ten years to create more reliable and resilience electric infrastructure.  

    The AI4IX program also aligns with DOE’s continued support for improving interconnection queues across the United States and supports its 2024 AI for Energy report that was prepared pursuant to President Biden’s Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, issued October 30, 2023. 

    ConnectWerx as the Intermediary will manage the technical assistance partnerships under the AI4IX program, via an innovative Partnership Intermediary Agreement (PIA) set up by the DOE’s Office of Technology Transitions (OTT). This agreement enables ConnectWerx to broaden DOE’s engagement with innovative organizations and non-traditional partners, facilitating the rapid development, scaling, and deployment of clean energy solutions. 

    Applications for the first round of AI4IX funding are due by January 10, 2025, by 1:00 pm ET. An informational webinar and objective strategy session will be held on December 5, 2024, at 2 pm ET. Registration is required. 

    Additional informational office hours will be held on December 17, 2024. DOE expects to make selections in Winter 2025. 

    Learn more about the Grid Deployment Office. 

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Department of Energy Invests $45 Million to Support Regional Consortia Focused on Securing Domestic Critical Minerals and Materials

    Source: US Department of Energy

    WASHINGTON, D.C. — The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) today announced $45 million in federal funding for six projects to create regional consortia to accelerate the development of critical mineral and materials supply chains including novel nonfuel carbon-based products from secondary and unconventional feedstocks. Realizing the value of secondary and unconventional feedstocks, such as coal and coal by-products, effluent waters from oil and gas development, and acid mine drainage will enable the United States to rebuild domestic supply chains for critical minerals and materials. By focusing on abundant American secondary and unconventional sources, these investments will support dependable and enduring supplies for American manufacturing and production of technologies essential to clean energy and our nation’s defense. 

    “Rebuilding a domestic supply chain for critical minerals and materials here at home will both safeguard our national security and support the continued development of a clean energy and industrial economy,” said Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management. “DOE is investing in collaborative regional projects to help us realize our nation’s full potential for recovery of these vital resources, while creating high-wage jobs and delivering environmental benefits for communities across the United States.”

    Selected projects will build upon the work of DOE’s Carbon Ore, Rare Earth and Critical Minerals (CORE-CM) Initiative, expanding the focus from the basin scale to cover eight regions across the Nation. Teams consist of partners such as private industry; universities; local, state, and federal government; local communities; and Tribes and Tribal organizations who will develop and implement strategies that enable each U.S. region to realize its economic critical minerals and materials potential, including valuable non-fuel carbon-based products.

    • University of Alaska Fairbanks (Fairbanks, Alaska) will work with three state geological surveys from Alaska, Oregon, and Washington to better understand the geologic framework and distribution of underexplored mineral resource deposits in the Northwest.
    • University of Illinois Urbana-Champaign (Champaign, Illinois), through the Illinois State Geological Survey, will work with the geological surveys of Michigan, Kentucky, Iowa, Indiana and Ohio to build the economic case for developing critical minerals and materials from coal and coal wastes in the Upper Midwest.
    • University of Texas at Austin (Austin, Texas) will identify resource potential in the Gulf Coast and Permian Basin areas, including from petroleum industry waste; produced water; coal, coal ash, and other coal mine related waste; and other nonfuel mine and processing wastes.
    • University of Utah (Salt Lake City, Utah) will evaluate critical minerals and materials and carbon associated with coal-related materials, sedimentary-hosted minerals, waste-related materials, and other potential value-added materials in the Rocky Mountain region.
    • University of Wyoming (Laramie, Wyoming) will assess the Great Plains and Interior Highlands, which consists of ten states and four basins, to develop domestic supply chains that use secondary and unconventional critical mineral resources.
    • Virginia Polytechnic Institute and State University (Blacksburg, Virginia) will lead a consortium of academic institutions, research laboratories, federal and state natural resource offices, and consultancies to evaluate critical minerals for potential future extraction in the Appalachian Mountain region.

    DOE’s National Energy Technology Laboratory (NETL), under the purview of FECM, will manage the selected projects. A detailed list of the selected projects can be found here. Additional selections may be made at a later date. 

    FECM reduces emissions from fossil energy production and use and key industrial processes, while strengthening U.S. energy and critical minerals security. To learn more, visit the FECM website, sign up for FECM news announcements, and visit the NETL website.

    MIL OSI USA News –

  • MIL-OSI USA: DOE Invests Over $32 Million to Increase Efficiency of U.S. Critical Minerals Production Through the Co-Manufacture of Value-Added Products

    Source: US Department of Energy

    WASHINGTON, D.C. – The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) today announced $32.75 million for 12 projects that will advance cost effective and environmentally responsible processes to produce and refine critical minerals and materials here in the United States. The funding, provided by the Bipartisan Infrastructure Law, focuses on projects that will develop value-added products, such as graphite or building materials, from feedstocks such as mining waste streams that also contain viable levels of critical minerals and materials. The manufacture of these co-products can improve the economic feasibility of domestically producing critical minerals and materials from these same feedstocks to reduce our dependence on offshore supplies. These projects will help safeguard our national security and build a clean energy and industrial economy, while creating good-paying jobs and supporting communities across the country that historically have depended on mining and energy production.

    “Building reliable and affordable critical mineral and material supply chains is essential to deploying the technologies needed for national defense and to support low-carbon U.S. energy production, manufacturing, and transport,” said Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management. “Through DOE’s strategic investments in projects that help improve the economics of domestic materials production through the manufacture of valuable co-products, we are creating good-paying jobs, increasing U.S. competitiveness, reducing our import reliance, and strengthening our national security and energy independence.”

    According to the U.S. Geological Survey, more than 95% of the U.S. demand for rare earth elements is met by foreign sources. More than 50% of most critical minerals come from foreign sources, and at least 12 critical minerals come exclusively from foreign sources.

    Critical Material Innovation, Efficiency, and Alternatives

    The “Critical Material Innovation, Efficiency, and Alternatives” funding opportunity will provide up to $150 million over several rounds of project selections to help to build a secure, sustainable domestic supply of critical minerals from sources across the United States, including recycled materials, mine waste, industrial waste, and ore deposits. Specifically, the funding opportunity will support bench- and pilot-scale research, development, and demonstration projects to increase the robustness of domestic supply chains and reduce our reliance on foreign supply chains. The following 12 projects selected for negotiation fall under the “Value Added Products” area of interest, and are focused on developing products created from other materials that are also part of the waste streams from which critical minerals and materials are extracted:

    • Ohio University (Athens, Ohio) plans to develop and demonstrate the viability of a novel continuous engineered foaming process to produce value-added carbon building materials from coal and coal waste containing critical minerals and materials.
    • Loukus Technologies, Inc. (Calumet, Michigan) aims to establish a semi-continuous process for conversion of cerium oxide with low-value scrap aluminum machining chips to produce advanced aluminum-cerium alloys.
    • Trustees of the Colorado School of Mines (Golden, Colorado) plans to develop bench-scale continuous processes to produce building materials, specifically geopolymer bricks, lightweight aggregates, and ceramic tiles, from critical minerals and materials found in mine tailings. 
    • Still Bright, Inc. (Newark, New Jersey) seeks develop a novel electrochemical technology to extract metal co-products from copper concentrate. 
    • Lawrence Berkeley National Laboratory (Berkeley, California) will develop a domestic supply of lithium while co-producing up to 10 other critical and valuable metals, graphite, and Portland cement.
    • University of Utah (Salt Lake City, Utah) will establish a process to demonstrate co-production of lithium salt, potassium salt, and magnesium salt from Great Salt Lakes brine. 
    • National Energy Technology Laboratory (Albany, Oregon) will define optimum parameters for chromite concentration and the extraction of platinum group elements needed to enable green hydrogen production.
    • Oak Ridge National Laboratory (Oak Ridge, Tennessee) will repurpose end-of-life graphite recycled from spent lithium-ion batteries into value-added graphitic materials using innovative purification and treatment methods.
    • National Energy Technology Laboratory (Albany, Oregon) will design the process of melting electrodes by electric resistance heating of slag—a by-product of the smelting process in metal extraction and refining—which contains rare earth elements in the form of oxides and/or fluorides.
    • Airtronics, LLC (Tucson, Arizona) will develop efficient recycling technologies to recover critical materials, precious metals, and base metals within electronic waste.
    • Mexichem Fluor Inc. (St. Gabriel, Louisiana) will demonstrate the feasibility of an efficient and sustainable process for graphite anode active material production from both graphite waste from battery recycling and mined graphite flake.
    • Melt Technologies LP (Briggs, Texas) will implement a pilot facility to produce tungsten carbide products—essential for many U.S. industries—from feedstock with greater efficiency and lower cost.

    A detailed list of the selected projects and funding amounts can be found here. DOE plans to make additional selections under the FOA’s remaining areas of interest at a later date. 

    DOE’s selections are subject to environmental review in accordance with the National Environmental Policy Act review process. DOE reserves the right to terminate award negotiations at any time for any reason.

    DOE’s Broader Advancements in Critical Minerals and Materials

    With the selections announced today, FECM has committed an estimated $254 million since January 2021 for projects that support critical minerals and materials exploration, resource identification, production, and processing in traditional mining and fossil fuel-producing communities across the country. 

    FECM reduces emissions from fossil energy production and use and key industrial processes, while strengthening U.S. energy and critical minerals security. To learn more, visit the FECM website, sign up for FECM news announcements, and visit the National Energy Technology Laboratory website.

    MIL OSI USA News –

  • MIL-OSI Security: Assault on Woman Sends Browning Man to Prison for More Than Three Years

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    GREAT FALLS — A Browning man who admitted to beating and then using a belt to assault a woman on the Blackfeet Indian Reservation was sentenced today to three years and two months in prison, to be followed by three years of supervised release, U.S. Attorney Jesse Laslovich said.

    The defendant, Briar Joseph Crawford, 29, pleaded guilty in September 2024 to assault with a dangerous weapon.

    Chief U.S District Judge Brian M. Morris presided.

    The government alleged in court documents that on Aug. 6, 2023, Crawford went to Glacier National Park go fishing with the victim, identified as Jane Doe. After consuming alcohol, Crawford and Doe argued, and the conflict escalated to Crawford assaulting Doe over several hours. At one point, Crawford removed his belt, wrapped it around Doe’s neck, grabbed it and lifted her weight off the ground until she blacked out. Doe suffered numerous injuries from the prolonged assault.

    The U.S. Attorney’s Office prosecuted the case. The FBI and Blackfeet Law Enforcement Services conducted the investigation.

    XXX

    MIL Security OSI –

  • MIL-OSI: Pathfinder Bancorp, Inc. Announces Financial Results for Fourth Quarter and Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    Fourth quarter results include EPS of $0.69, deposit growth, commercial loan growth, a gain on the sale of its insurance agency, and strong contributions from new and established
    Pathfinder Bank teams across Central New York

    OSWEGO, N.Y., Jan. 31, 2025 (GLOBE NEWSWIRE) — Pathfinder Bancorp, Inc. (“Pathfinder” or the “Company”) (NASDAQ: PBHC) announced its financial results for the fourth quarter and year ended December 31, 2024.

    The holding company for Pathfinder Bank (“the Bank”) earned net income attributable to common shareholders of $4.3 million or $0.69 per share in the fourth quarter of 2024, including a benefit of approximately $1.4 million from a gain on the previously announced sale of its insurance agency, net of taxes and transaction-related expenses.

    The Company reported a net loss of $4.6 million or $0.75 per share in the third quarter of 2024, reflecting $9.0 million in provision expense that primarily resulted from a comprehensive loan portfolio review the Bank elected to undertake as part of its ongoing commitment to continuously improve its credit risk management approach, and net income of $2.5 million or $0.41 per share in the fourth quarter of 2023. For the full year, the Company earned net income of $3.8 million or $0.60 per share in 2024 and $9.3 million or $1.51 per share in 2023.

    Fourth Quarter and Full Year 2024 Highlights and Key Developments

    • Provision expense was $988,000 in the fourth quarter of 2024, compared to $9.0 million in the linked quarter and $265,000 in the fourth quarter of 2023, while the allowance for credit losses (“ACL) increased to 1.88% of loans from 1.87% on September 30, 2024 and 1.78% on December 31, 2023.
    • Net interest income was $10.8 million, compared to the $11.7 million in the linked quarter that benefited from a $887,000 catch-up interest payment, and $9.2 million in the fourth quarter of 2023. Full-year net interest income was $41.4 million in 2024 and $38.9 million in 2023.
    • Net interest margin (“NIM”) was 3.15% in the fourth quarter of 2024, compared to the 3.34% in the third quarter that benefited by 25 basis points from the catch-up interest payment, and 2.74% in the year-ago period.
    • Non-interest income was $4.9 million, including a gross, pre-tax gain of $3.2 million on the October 2024 sale of the Company’s insurance agency, compared to $1.7 million in the linked quarter and $1.3 million in the year-ago period. Full-year non-interest income was $9.6 million in 2024 and $5.2 million in 2023.
    • Non-interest expense was $8.5 million with $155,000 in October 2024 insurance agency transaction-related costs, $10.3 million in the linked quarter with $1.6 million in July 2024 branch acquisition-related costs, and $7.0 million in the year-ago period. Full-year non-interest expense was $34.4 million in 2024 and $29.4 million in 2023.
    • Pre-tax, pre-provision (“PTPP”) net income grew to $3.8 million, compared to $3.4 million in the linked and year-ago periods. PTPP net income, which is not a financial metric under generally accepted accounting principles (“GAAP”), is a measure that the Company believes is helpful to understanding profitability without giving effect to income taxes and provision for credit losses. Full-year PTPP net income was $13.5 million in 2024 and $14.7 million in 2023.
    • Total deposits were $1.20 billion at period end, growing by $8.1 million or 2.7% annualized from September 30, 2024 and $84.3 million or 7.5% from December 31, 2023. The Bank’s loan-to-deposit ratio was 76.3% on December 31, 2024.
    • Total loans were $919.0 million at period end, compared to $921.7 million on September 30, 2024 and $897.2 million on December 31, 2023. Commercial loans were $539.7 million at period end, $534.5 million on September 30, 2024 and $524.2 million on December 31, 2023.

    “Pathfinder’s core net interest income growth and net interest margin expansion were key contributors to fourth quarter earnings, and are a product of disciplined asset and liability pricing, the Bank’s valuable core deposit franchise, and our relationship-based commercial and retail lending in Central New York,” said President and Chief Executive Officer James A. Dowd. “In addition, we continue to invest in talent to serve middle market businesses throughout the Syracuse area, building on our foundation in this community. The East Syracuse branch acquired last summer, and our operations throughout the area, made important contributions to Pathfinder’s performance in the fourth quarter, and we look forward to further enhancing the breadth and depth of our commercial and other customer relationships in this important growth market.”

    Dowd added, “We also intend to maintain a sharp focus on managing operating expenses, along with our ongoing efforts to continuously enhance the Company’s proactive credit risk management approach. While there may be short-term variability in measures of operating efficiency and asset quality, our leadership team is fully committed to taking the steps necessary to make sustainable improvements over the long term and continue building franchise value for the benefit of our shareholders.”

    Net Interest Income and Net Interest Margin
    Fourth quarter 2024 net interest income was $10.8 million, a decrease of 7.8% from the third quarter of 2024, or a decrease of 0.2% when excluding an $887,000 third quarter catch-up interest payment associated with purchased loan pool positions. A decrease in interest and dividend income of $1.7 million was primarily attributed to average yield decreases of 44 basis points on loans including 39 basis points from the catch-up interest payment, 108 basis points on tax-exempt investment securities, and 28 basis points on taxable investment securities. The corresponding decreases in income from loan interest, tax-exempt investment securities, and taxable investment securities were $902,000, $24,000, and $337,000, respectively. A decrease in interest expense of $761,000 was attributed to intentional reductions in the cost of time deposits and other interest-bearing deposits, as well as reductions in borrowings expense.

    Net interest margin was 3.15% in the fourth quarter of 2024, compared to 3.34% in the linked quarter. The decrease was due to the 25 basis points of linked quarter NIM attributed to the third quarter 2024 catch-up interest payment.

    Fourth quarter 2024 net interest income was $10.8 million, an increase of 18.1% from the fourth quarter of 2023. An increase in interest and dividend income of $1.2 million was primarily attributed to average yield increases of 33 basis points on loans, 4 basis points on taxable investment securities, and 404 basis points on fed funds sold and interest-earning deposits. The corresponding increase in loan interest income, taxable investment securities, and federal funds sold and interest-earning deposits was $1.1 million, $152,000, and $13,000, respectively. A decrease in interest expense of $463,000 was attributed to changes in the Bank’s deposit mix, repricing of deposits in a lower rate environment, and reductions in borrowings expense.

    Net interest margin was 3.15% in the fourth quarter of 2024 compared to 2.74% in the same period the year prior. The increase of 41 basis points was driven by reductions in borrowing and funding costs.

    Noninterest Income
    Noninterest income totaled $4.9 million in the fourth quarter of 2024, including the $3.2 million pre-tax gain on the insurance agency sale, which represents the gross amount that is required to be 100% consolidated within the Company’s financial statements, despite Pathfinder’s 51% interest in the business sold in October 2024. Noninterest income growth from the third quarter of 2024 was $3.2 million, or $30,000 when excluding the agency sale gain. Noninterest income growth from the fourth quarter of 2023 was $3.6 million, or $419,000 when excluding the agency sale gain.

    The insurance agency sold in October contributed $49,000 in revenue to noninterest income in the fourth quarter of 2024, $367,000 in the third quarter of 2024 and $303,000 in the fourth quarter of 2023.

    Compared to the linked quarter, fourth quarter 2024 noninterest income also included increases of $16,000 in loan servicing fees and $12,000 in service charges on deposit accounts, a decrease of $194,000 in earnings and gain on bank owned life insurance (“BOLI”) after recording a $175,000 third quarter net death benefit on BOLI, and a $36,000 decrease in debit card interchange fees. Noninterest income growth from the linked quarter also reflected an increase of $438,000 in net realized gains on sales and redemptions of investment securities and $104,000 in net realized gains on sales of marketable equity securities, as well as a decrease of $51,000 in gains on sales of loans and foreclosed real estate.

    Compared to the year-ago period, fourth quarter 2024 noninterest income also included increases of $103,000 in interchange fees, $68,000 in service charges on deposit accounts, $26,000 in loan servicing fees, and $3,000 in earnings and gain on BOLI. Noninterest income growth from the year-ago quarter also reflected increases of $248,000 increase in net realized losses on sales and redemptions of investment securities, $213,000 in net realized gains on sales of marketable equity securities, and $41,000 in gains on sales of loans and foreclosed real estate.

    Noninterest Expense
    Noninterest expense totaled $8.5 million in the fourth quarter of 2024, decreasing $1.7 million from the linked quarter and increasing $1.5 million from the year-ago period.

    Fourth quarter 2024 noninterest expense included $456,000 associated with the Company’s insurance agency sale in October 2024, including $155,000 in transaction-related items. The insurance agency incurred $308,000 of noninterest expense in the third quarter of 2024 and $216,000 in the fourth quarter of 2023.

    Third quarter 2024 noninterest expense included $1.6 million in transaction-related expenses for Pathfinder’s acquisition of the East Syracuse branch acquisition in July 2024.

    Salaries and benefits were $4.1 million in the fourth quarter of 2024, decreasing $839,000 from the linked quarter and increasing $446,000 from the year-ago period. The decrease from the linked quarter reflected elevated non-exempt-employee hours for projects related to the successful third quarter closing and integration of the East Syracuse branch acquisition, as well as some personnel vacancies that were open in the fourth quarter. The increase from the fourth quarter of 2023 was primarily attributed to increased headcount and lower salary deferrals than in the prior year period.

    Building and occupancy was $1.3 million in the fourth quarter of 2024, increasing $117,000 and $390,000 from the linked and year-ago quarters, respectively. These increases were due to ongoing facilities-related costs of approximately $322,000 associated with operating the branch acquired in July 2024.

    Professional and other services expense was $608,000 in the fourth quarter of 2024, decreasing $1.2 million from the linked quarter and increasing $120,000 from the year-ago period. The decrease from the third quarter of 2024 was primarily attributed to one-time costs associated with the East Syracuse branch acquisition. The increase from the fourth quarter of 2023 was primarily attributed to a $136,000 increase in technology project implementation services and other outsourced consulting services.

    Annualized noninterest expense, including transaction-related costs, represented 2.33% of average assets in the fourth quarter of 2024, compared to 2.75% and 2.01% in the linked and year-ago periods. The efficiency ratio, including transaction-related costs, was 69.42% in the fourth quarter of 2024, compared to 75.28% and 67.25% in the linked and year-ago periods. The efficiency ratio, which is not a financial metric under GAAP, is a measure that the Company believes is helpful to understanding its level of non-interest expense as a percentage of total revenue.

    Statement of Financial Condition
    As of December 31, 2024, the Company’s statement of financial condition reflects total assets of $1.47 billion, compared to $1.48 billion and $1.47 billion recorded on September 30, 2024 and December 31, 2023, respectively.

    Loans totaled $919.0 million on December 31, 2024, decreasing 0.3% during the fourth quarter and increasing 2.4% from one year prior. Consumer and residential loans totaled $380.9 million, decreasing 2.0% during the fourth quarter and increasing 1.9% from one year prior. Commercial loans totaled $539.7 million, increasing 1.0% during the fourth quarter and 3.0% from one year prior.

    With respect to liabilities, deposits totaled $1.20 billion on December 31, 2024, increasing 0.7% during the fourth quarter and 7.5% from one year prior. The Company also utilized its lower cost liquidity to reduce total borrowings, which were $88.1 million on December 31, 2024 as compared to $100.1 million on September 30, 2024 and $175.6 million on December 31, 2023.

    Shareholders’ equity totaled $121.9 million on December 31, 2024, increasing $1.6 million or 1.3% in the fourth quarter and increasing $2.4 million or 2.0% from one year prior. The fourth quarter 2024 increase primarily reflects a $4.5 million increase in retained earnings, partially offset by a $2.4 million increase in accumulated other comprehensive loss (“AOCL”) and a $481,000 decrease in additional paid in capital. The full-year 2024 increase in shareholders’ equity primarily reflects a $2.1 increase in retained earnings and a $461,000 decrease in AOCL, partially offset by a $364,000 decrease in additional paid in capital.  The noncontrolling interest included in equity on the Statements of Financial Condition was eliminated with the October 2024 sale of the 51% ownership interest in the Company’s insurance agency.

    Asset Quality
    Pathfinder’s asset quality metrics reflect ongoing efforts the Bank is undertaking as part of its commitment to continuously improve its credit risk management approach.

    Nonperforming loans were $22.1 million or 2.40% of total loans on December 31, 2024, $16.2 million or 1.75% of total loans on September 30, 2024 and $17.2 million or 1.92% of total loans on December 31, 2023.

    Net charge offs (“NCOs”) after recoveries were $1.0 million or an annualized 0.44% of average loans in the fourth quarter of 2024, with gross charge offs for consumer loans, purchased loan pools, and one commercial loan offsetting recoveries in each of these categories. NCOs were $8.7 million or an annualized 3.82% of average loans in the linked quarter, following the loan portfolio review completed in September, and $108,000 or 0.05% in the prior year period.

    Provision for credit loss expense was $988,000 in the fourth quarter of 2024, reflecting NCOs in the period and qualitative factors in the Company’s reserve model. Third quarter of 2024 provision was $9.0 million, primarily to replenish commercial loan reserves and adjust the lifetime loss estimate for solar purchased loan pool positions following the loan portfolio review completed in September. Fourth quarter 2023 provision was $265,000.

    The Company believes it is sufficiently collateralized and reserved, with an Allowance for Credit Losses (“ACL”) of $17.2 million on December 31, 2024, compared to $17.3 million on September 30, 2024 and $16.0 million on December 31, 2023. As a percentage of total loans, ACL represented 1.88% on December 31, 2024, 1.87% on September 30, 2024, and 1.78% on December 31, 2023.

    Liquidity
    The Company has diligently ensured a strong liquidity profile as of December 31, 2024 to meet its ongoing financial obligations. The Bank’s liquidity management, as evaluated by its cash reserves and operational cash flows from loan repayments and investment securities, remains robust and is effectively managed by the institution’s leadership.

    The Bank’s analysis indicates that expected cash inflows from loans and investment securities are more than sufficient to meet all projected financial obligations. Total deposits were $1.20 billion on December 31, 2024, $1.20 billion on September 30, 2024, and $1.12 billion on December 31, 2023. Core deposits represented 76.87% of total deposits on December 31, 2024, 77.45% on September 30, 2024, and 69.83% on December 31, 2023. The Bank’s continues to implement strategic initiatives to enhance its core deposit franchise, including targeted marketing campaigns and customer engagement programs aimed at deepening banking relationships and enhancing deposit stability.

    At the end of the current quarter, Pathfinder Bancorp had an available additional funding capacity of $113.8 million with the Federal Home Loan Bank of New York, which complements its liquidity reserves. Moreover, the Bank maintains additional unused credit lines totaling $43.3 million, which provide a buffer for additional funding needs. These facilities, including access to the Federal Reserve’s Discount Window, are part of a comprehensive liquidity strategy that ensures flexibility and readiness to respond to any funding requirements.

    Cash Dividend Declared
    On December 23, 2024, Pathfinder’s Board of Directors declared a cash dividend of $0.10 per share for holders of both voting common and non-voting common stock.

    In addition, this dividend also extends to the notional shares of the Company’s warrants. Shareholders registered by January 17, 2025 will be eligible for the dividend, which is scheduled for disbursement on February 7, 2025. This distribution aligns with Pathfinder Bancorp’s philosophy of consistent and reliable delivery of shareholder value.

    Evaluating the Company’s market performance, the closing stock price as of December 31, 2024 stood at $17.50 per share. This positions the dividend yield at an attractive 2.29%.

    About Pathfinder Bancorp, Inc.

    Pathfinder Bancorp, Inc. (NASDAQ: PBHC) is the commercial bank holding company for Pathfinder Bank, which serves Central New York customers throughout Oswego, Syracuse, and their neighboring communities. Strategically located branches averaging over $100 million in deposits per location, as well as diversified consumer, mortgage and commercial loan portfolios, reflect the state-chartered Bank’s commitment to in-market relationships and local customer service. The Company also offers investment services to individuals and businesses. At December 31, 2024, the Oswego-headquartered Company had assets of $1.47 billion, loans of $919.0 million, and deposits of $1.20 billion. More information is available at pathfinderbank.com and ir.pathfinderbank.com.

    Forward-Looking Statements
    Certain statements contained herein are “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are based on current beliefs and expectations of the Company’s and the Bank’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s and the Bank’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: risks related to the real estate and economic environment, particularly in the market areas in which the Company and the Bank operate; fiscal and monetary policies of the U.S. Government; inflation; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of the allowance for credit losses; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company may not be successful in the implementation of its business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company’s filings with the Securities and Exchange Commission, which are available at the SEC’s website, www.sec.gov.

    This release contains non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a registrant’s historical or future financial performance, financial position, or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet, or statement of cash flows (or equivalent statements) of the registrant; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. In this regard, GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, the Company has provided reconciliations within the release of the non-GAAP financial measures to the most directly comparable GAAP financial.

    Investor/Media Contacts
    James A. Dowd, President, CEO
    Justin K. Bigham, Senior Vice President, CFO
    Telephone: (315) 343-0057

    PATHFINDER BANCORP, INC.                              
    Selected Financial Information (Unaudited)                              
    (Amounts in thousands, except per share amounts)                              
                                   
        2024     2023  
    SELECTED BALANCE SHEET DATA:   December 31,     September 30,     June 30,     March 31,     December 31,  
    ASSETS:                              
    Cash and due from banks   $ 13,963     $ 18,923     $ 12,022     $ 13,565     $ 12,338  
    Interest-earning deposits     17,609       16,401       19,797       15,658       36,394  
    Total cash and cash equivalents     31,572       35,324       31,819       29,223       48,732  
    Available-for-sale securities, at fair value     269,331       271,977       274,977       279,012       258,716  
    Held-to-maturity securities, at amortized cost     158,683       161,385       166,271       172,648       179,286  
    Marketable equity securities, at fair value     4,076       3,872       3,793       3,342       3,206  
    Federal Home Loan Bank stock, at cost     4,590       5,401       8,702       7,031       8,748  
    Loans     918,986       921,660       888,263       891,531       897,207  
    Less: Allowance for credit losses     17,243       17,274       16,892       16,655       15,975  
    Loans receivable, net     901,743       904,386       871,371       874,876       881,232  
    Premises and equipment, net     19,009       18,989       18,878       18,332       18,441  
    Assets held-for-sale     –       –       3,042       3,042       3,042  
    Operating lease right-of-use assets     1,391       1,425       1,459       1,493       1,526  
    Finance lease right-of-use assets     16,676       16,873       4,004       4,038       4,073  
    Accrued interest receivable     6,881       6,806       7,076       7,170       7,286  
    Foreclosed real estate     –       –       60       82       151  
    Intangible assets, net     5,989       6,217       76       80       85  
    Goodwill     5,056       5,752       4,536       4,536       4,536  
    Bank owned life insurance     24,727       24,560       24,967       24,799       24,641  
    Other assets     25,150       20,159       25,180       23,968       22,097  
    Total assets   $ 1,474,874     $ 1,483,126     $ 1,446,211     $ 1,453,672     $ 1,465,798  
                                   
    LIABILITIES AND SHAREHOLDERS’ EQUITY:                              
    Deposits:                              
    Interest-bearing deposits   $ 990,674     $ 986,103     $ 932,132     $ 969,692     $ 949,898  
    Noninterest-bearing deposits     213,719       210,110       169,145       176,421       170,169  
    Total deposits     1,204,393       1,196,213       1,101,277       1,146,113       1,120,067  
    Short-term borrowings     61,000       60,315       127,577       91,577       125,680  
    Long-term borrowings     27,068       39,769       45,869       45,869       49,919  
    Subordinated debt     30,107       30,057       30,008       29,961       29,914  
    Accrued interest payable     234       236       2,092       1,963       2,245  
    Operating lease liabilities     1,591       1,621       1,652       1,682       1,711  
    Finance lease liabilities     16,745       16,829       4,359       4,370       4,381  
    Other liabilities     11,876       16,986       9,203       9,505       11,625  
    Total liabilities     1,353,014       1,362,026       1,322,037       1,331,040       1,345,542  
    Shareholders’ equity:                              
    Voting common stock shares issued and outstanding     4,742,841       4,719,788       4,719,788       4,719,788       4,719,288  
    Voting common stock     47       47       47       47       47  
    Non-Voting common stock     14       14       14       14       14  
    Additional paid in capital     52,750       53,231       53,182       53,151       53,114  
    Retained earnings     78,193       73,670       78,936       77,558       76,060  
    Accumulated other comprehensive loss     (9,144 )     (6,716 )     (8,786 )     (8,862 )     (9,605 )
    Unearned ESOP shares     –       –       (45 )     (90 )     (135 )
    Total Pathfinder Bancorp, Inc. shareholders’ equity     121,860       120,246       123,348       121,818       119,495  
    Noncontrolling interest     –       854       826       814       761  
    Total equity     121,860       121,100       124,174       122,632       120,256  
    Total liabilities and shareholders’ equity   $ 1,474,874     $ 1,483,126     $ 1,446,211     $ 1,453,672     $ 1,465,798  
                                             

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    SELECTED INCOME STATEMENT DATA:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Interest and dividend income:                                          
    Loans, including fees   $ 52,705     $ 47,348     $ 13,523     $ 14,425     $ 12,489     $ 12,268     $ 12,429  
    Debt securities:                                          
    Taxable     22,319       17,500       5,312       5,664       5,736       5,607       5,092  
    Tax-exempt     1,920       1,947       445       469       498       508       506  
    Dividends     620       573       164       149       178       129       232  
    Federal funds sold and interest-earning deposits     793       295       82       492       121       98       69  
    Total interest and dividend income     78,357       67,663       19,526       21,199       19,022       18,610       18,328  
    Interest expense:                                          
    Interest on deposits     30,050       23,265       7,380       7,633       7,626       7,411       7,380  
    Interest on short-term borrowings     4,176       2,688       700       1,136       1,226       1,114       1,064  
    Interest on long-term borrowings     733       850       136       202       201       194       231  
    Interest on subordinated debt     1,966       1,941       490       496       489       491       494  
    Total interest expense     36,925       28,744       8,706       9,467       9,542       9,210       9,169  
    Net interest income     41,432       38,919       10,820       11,732       9,480       9,400       9,159  
    Provision for (benefit from) credit losses:                                          
    Loans     11,106       2,991       988       9,104       304       710       316  
    Held-to-maturity securities     (94 )     (98 )     (4 )     (31 )     (74 )     15       (74 )
    Unfunded commitments     (39 )     37       4       (104 )     60       1       23  
    Total provision for credit losses     10,973       2,930       988       8,969       290       726       265  
    Net interest income after provision for credit losses     30,459       35,989       9,832       2,763       9,190       8,674       8,894  
    Noninterest income:                                          
    Service charges on deposit accounts     1,436       1,249       405       392       330       309       336  
    Earnings and gain on bank owned life insurance     854       630       169       361       167       157       164  
    Loan servicing fees     375       307       96       79       112       88       69  
    Net realized (losses) gains on sales and redemptions of investment securities     (71 )     62       249       (188 )     16       (148 )     2  
    Gain on asset sale 1 & 2     3,169       –       3,169       –       –       –       –  
    Net realized gains (losses) on sales of marketable equity securities     197       (255 )     166       62       (139 )     108       (47 )
    Gains on sales of loans and foreclosed real estate     187       181       39       90       40       18       (2 )
    Loss on sale of premises and equipment     (13 )     –       –       (36 )     –       –       –  
    Debit card interchange fees     875       616       265       300       191       119       161  
    Insurance agency revenue 1     1,073       1,304       49       367       260       397       303  
    Other charges, commissions & fees     1,479       1,096       299       280       234       689       332  
    Total noninterest income     9,561       5,190       4,906       1,707       1,211       1,737       1,318  
    Noninterest expense:                                          
    Salaries and employee benefits     17,810       15,920       4,123       4,959       4,399       4,329       3,677  
    Building and occupancy     4,118       3,563       1,254       1,134       914       816       864  
    Data processing     2,471       2,018       721       672       550       528       499  
    Professional and other services     3,686       2,019       608       1,820       696       562       488  
    Advertising     604       671       218       165       116       105       155  
    FDIC assessments     916       885       231       228       228       229       222  
    Audits and exams     539       735       123       123       123       170       259  
    Insurance agency expense 1     1,281       1,033       456       308       232       285       216  
    Community service activities     130       200       19       20       39       52       49  
    Foreclosed real estate expenses     102       111       20       27       30       25       35  
    Other expenses     2,760       2,240       771       803       581       605       580  
    Total noninterest expense     34,417       29,395       8,544       10,259       7,908       7,706       7,044  
    Income (loss) before provision for income taxes     5,603       11,784       6,194       (5,789 )     2,493       2,705       3,168  
    Provision (benefit) for income taxes     398       2,362       558       (1,173 )     481       532       590  
    Net income (loss) attributable to noncontrolling interest and Pathfinder Bancorp, Inc.     5,205       9,422       5,636       (4,616 )     2,012       2,173       2,578  
    Net income attributable to noncontrolling interest 1     1,445       129       1,352       28       12       53       42  
    Net income (loss) attributable to Pathfinder Bancorp Inc.   $ 3,760     $ 9,293     $ 4,284     $ (4,644 )   $ 2,000     $ 2,120     $ 2,536  
    Voting Earnings per common share – basic and diluted   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Series A Non-Voting Earnings per common share- basic and diluted   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Dividends per common share (Voting and Series A Non-Voting)   $ 0.40     $ 0.36     $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.09  

    1 Although the Company owned 51% of its membership interest in FitzGibbons Agency, LLC (“Agency”) the Company is required to consolidate 100% of the Agency within the consolidated financial statements.
    2 The $3,169,000 consolidated gain on asset sale equals $1,616,000 associated with the Company’s 51% interest in the Agency plus $1,553,000 associated with the 49% noncontrolling interest.

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    FINANCIAL HIGHLIGHTS:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Selected Ratios:                                          
    Return on average assets     0.26 %     0.67 %     1.17 %     -1.25 %     0.56 %     0.59 %     0.72 %
    Return on average common equity     3.06 %     8.09 %     14.09 %     -14.79 %     6.49 %     7.01 %     8.72 %
    Return on average equity     3.06 %     8.09 %     14.09 %     -14.79 %     6.49 %     7.01 %     8.72 %
    Return on average tangible common equity 1     3.23 %     8.43 %     15.54 %     -15.28 %     6.78 %     7.32 %     9.01 %
    Net interest margin     3.01 %     2.95 %     3.15 %     3.34 %     2.78 %     2.75 %     2.74 %
    Loans / deposits     76.30 %     80.10 %     76.30 %     77.05 %     80.66 %     77.79 %     80.10 %
    Core deposits/deposits 2     76.87 %     69.83 %     76.87 %     77.45 %     67.98 %     69.17 %     69.83 %
    Annualized non-interest expense / average assets     3.17 %     2.11 %     2.33 %     2.75 %     2.19 %     2.16 %     2.01 %
    Commercial real estate / risk-based capital 3     186.73 %     162.21 %     186.73 %     189.47 %     169.73 %     163.93 %     162.21 %
    Efficiency ratio 1     71.86 %     66.74 %     69.42 %     75.28 %     74.08 %     68.29 %     67.25 %
                                               
    Other Selected Data:                                          
    Average yield on loans     5.83 %     5.26 %     5.87 %     6.31 %     5.64 %     5.48 %     5.55 %
    Average cost of interest bearing deposits     3.08 %     2.45 %     2.94 %     3.11 %     3.21 %     3.07 %     3.10 %
    Average cost of total deposits, including non-interest bearing     2.59 %     2.07 %     2.44 %     2.59 %     2.72 %     2.61 %     2.63 %
    Deposits/branch 4   $ 100,366     $ 101,824     $ 100,366     $ 99,684     $ 100,116     $ 104,192     $ 101,824  
    Pre-tax, pre-provision net income 1   $ 13,478     $ 14,652     $ 3,764     $ 3,368     $ 2,767     $ 3,579     $ 3,431  
    Total revenue 1   $ 47,895     $ 44,047     $ 12,308     $ 13,627     $ 10,675     $ 11,285     $ 10,475  
                                               
    Share and Per Share Data:                                          
    Cash dividends per share   $ 0.40     $ 0.36     $ 0.10     $ 0.10     $ 0.10     $ 0.10     $ 0.09  
    Book value per common share   $ 19.90     $ 19.59     $ 19.90     $ 19.71     $ 20.22     $ 19.97     $ 19.59  
    Tangible book value per common share 1   $ 18.10     $ 18.83     $ 18.10     $ 17.75     $ 19.46     $ 19.21     $ 18.83  
    Basic and diluted weighted average shares outstanding – Voting     4,714       4,653       4,732       4,714       4,708       4,701       4,693  
    Basic and diluted earnings per share – Voting 5   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Basic and diluted weighted average shares outstanding – Series A Non-Voting     1,380       1,380       1,380       1,380       1,380       1,380       1,380  
    Basic and diluted earnings per share – Series A Non-Voting 5   $ 0.60     $ 1.51     $ 0.69     $ (0.75 )   $ 0.32     $ 0.34     $ 0.41  
    Common shares outstanding at period end     6,123       6,100       6,123       6,100       6,100       6,100       6,100  
                                               
    Pathfinder Bancorp, Inc. Capital Ratios:                                          
    Company tangible common equity to tangible assets 1     7.57 %     7.86 %     7.57 %     7.36 %     8.24 %     8.09 %     7.86 %
    Company Total Core Capital (to Risk-Weighted Assets)     15.70 %     16.17 %     15.70 %     15.55 %     16.19 %     16.23 %     16.17 %
    Company Tier 1 Capital (to Risk-Weighted Assets)     12.04 %     12.30 %     12.04 %     11.84 %     12.31 %     12.33 %     12.30 %
    Company Tier 1 Common Equity (to Risk-Weighted Assets)     11.55 %     11.81 %     11.55 %     11.33 %     11.83 %     11.85 %     11.81 %
    Company Tier 1 Capital (to Assets)     8.69 %     9.35 %     8.69 %     8.29 %     9.16 %     9.16 %     9.35 %
                                               
    Pathfinder Bank Capital Ratios:                                          
    Bank Total Core Capital (to Risk-Weighted Assets)     14.70 %     15.05 %     14.70 %     14.52 %     16.04 %     15.65 %     15.05 %
    Bank Tier 1 Capital (to Risk-Weighted Assets)     13.44 %     13.80 %     13.44 %     13.26 %     14.79 %     14.39 %     13.80 %
    Bank Tier 1 Common Equity (to Risk-Weighted Assets)     13.44 %     13.80 %     13.44 %     13.26 %     14.79 %     14.39 %     13.80 %
    Bank Tier 1 Capital (to Assets)     9.69 %     10.11 %     9.69 %     9.13 %     10.30 %     10.13 %     10.11 %

    1 Non-GAAP financial metrics. See non-GAAP reconciliation included herein for the most directly comparable GAAP measures.
    2 Non-brokered deposits excluding certificates of deposit of $250,000 or more.
    3 Construction and development, multifamily, and non-owner occupied CRE loans as a percentage of Pathfinder Bank total capital.
    4 Includes 11 full-service branches and one motor bank for December 31 and September 30, 2024, respectively. Includes 10 full-service branches and one motor bank for all periods prior.
    5 Basic and diluted earnings per share are calculated based upon the two-class method. Weighted average shares outstanding do not include unallocated ESOP shares.

    The above information is preliminary and based on the Company’s data available at the time of presentation.
        Years Ended December 31,     2024     2023  
    ASSET QUALITY:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Total loan charge-offs   $ 10,183     $ 4,221     $ 1,191     $ 8,812     $ 112     $ 68     $ 211  
    Total recoveries     345       355       171       90       46       38       103  
    Net loan charge-offs     9,838       3,866       1,020       8,722       66       30       108  
    Allowance for credit losses at period end     17,243       15,975       17,243       17,274       16,892       16,655       15,975  
    Nonperforming loans at period end     22,084       17,227       22,084       16,170       24,490       19,652       17,227  
    Nonperforming assets at period end   $ 22,084     $ 17,378     $ 22,084     $ 16,170     $ 24,550     $ 19,734     $ 17,378  
    Annualized net loan charge-offs to average loans     1.09 %     0.43 %     0.44 %     3.82 %     0.03 %     0.01 %     0.05 %
    Allowance for credit losses to period end loans     1.88 %     1.78 %     1.88 %     1.87 %     1.90 %     1.87 %     1.78 %
    Allowance for credit losses to nonperforming loans     78.08 %     92.73 %     78.08 %     106.83 %     68.98 %     84.75 %     92.73 %
    Nonperforming loans to period end loans     2.40 %     1.92 %     2.40 %     1.75 %     2.76 %     2.20 %     1.92 %
    Nonperforming assets to period end assets     1.50 %     1.19 %     1.50 %     1.09 %     1.70 %     1.36 %     1.19 %
                                                             
        2024       2023  
    LOAN COMPOSITION:   December 31,     September 30,     June 30,     March 31,     December 31,  
    1-4 family first-lien residential mortgages   $ 251,373     $ 255,235     $ 250,106     $ 252,026     $ 257,604  
    Residential construction     4,864       4,077       309       1,689       1,355  
    Commercial real estate     377,619       378,805       370,361       363,467       358,707  
    Commercial lines of credit     67,602       64,672       62,711       67,416       72,069  
    Other commercial and industrial     89,800       88,247       90,813       91,178       89,803  
    Paycheck protection program loans     113       125       136       147       158  
    Tax exempt commercial loans     4,544       2,658       3,228       3,374       3,430  
    Home equity and junior liens     51,948       52,709       35,821       35,723       34,858  
    Other consumer     72,710       76,703       75,195       77,106       79,797  
    Subtotal loans     920,573       923,231       888,680       892,126       897,781  
    Deferred loan fees     (1,587 )     (1,571 )     (417 )     (595 )     (574 )
    Total loans   $ 918,986     $ 921,660     $ 888,263     $ 891,531     $ 897,207  
                                             
        2024     2023  
    DEPOSIT COMPOSITION:   December 31,     September 30,     June 30,     March 31,     December 31,  
    Savings accounts   $ 128,752     $ 129,053     $ 106,048     $ 111,465     $ 113,543  
    Time accounts     360,586       352,729       368,262       378,103       377,570  
    Time accounts in excess of $250,000     142,473       140,181       117,021       114,514       95,272  
    Money management accounts     11,583       11,520       12,154       11,676       12,364  
    MMDA accounts     239,016       250,007       193,915       215,101       224,707  
    Demand deposit interest-bearing     101,080       97,344       128,168       134,196       119,321  
    Demand deposit noninterest-bearing     213,719       210,110       169,145       176,434       170,169  
    Mortgage escrow funds     7,184       5,269       6,564       4,624       7,121  
    Total deposits   $ 1,204,393     $ 1,196,213     $ 1,101,277     $ 1,146,113     $ 1,120,067  
                                             

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    SELECTED AVERAGE BALANCES:   2024     2023     Q4     Q3     Q4  
    Interest-earning assets:                              
    Loans   $ 903,941     $ 899,605     $ 920,855     $ 914,467     $ 896,439  
    Taxable investment securities     423,475       379,600       412,048       415,751       403,411  
    Tax-exempt investment securities     30,861       30,318       34,918       30,382       27,941  
    Fed funds sold and interest-earning deposits     16,379       11,730       5,115       42,897       11,630  
    Total interest-earning assets     1,374,656       1,321,253       1,372,936       1,403,497       1,339,421  
    Noninterest-earning assets:                              
    Other assets     102,582       100,319       112,654       103,856       102,940  
    Allowance for credit losses     (16,670 )     (17,870 )     (17,145 )     (16,537 )     (17,359 )
    Net unrealized losses on available-for-sale securities     (9,769 )     (13,600 )     (8,534 )     (9,161 )     (15,653 )
    Total assets   $ 1,450,799     $ 1,390,102     $ 1,459,911     $ 1,481,655     $ 1,409,349  
    Interest-bearing liabilities:                              
    NOW accounts   $ 101,336     $ 92,223     $ 102,862     $ 102,868     $ 87,210  
    Money management accounts     11,679       14,116       11,371       11,828       12,518  
    MMDA accounts     227,597       239,182       257,429       227,247       231,957  
    Savings and club accounts     118,965       124,617       128,169       127,262       115,984  
    Time deposits     517,352       480,867       504,008       514,049       505,554  
    Subordinated loans     30,002       29,815       30,076       30,025       29,883  
    Borrowings     114,471       105,471       68,391       122,129       124,780  
    Total interest-bearing liabilities     1,121,402       1,086,291       1,102,306       1,135,408       1,107,886  
    Noninterest-bearing liabilities:                              
    Demand deposits     184,572       172,950       206,521       195,765       169,340  
    Other liabilities     21,923       16,037       29,491       24,856       15,858  
    Total liabilities     1,327,897       1,275,278       1,338,318       1,356,029       1,293,084  
    Shareholders’ equity     122,902       114,824       121,593       125,626       116,265  
    Total liabilities & shareholders’ equity   $ 1,450,799     $ 1,390,102     $ 1,459,911     $ 1,481,655     $ 1,409,349  
                                             
        Years Ended December 31,     2024     2023  
    SELECTED AVERAGE YIELDS:   2024     2023     Q4     Q3     Q4  
    Interest-earning assets:                              
    Loans     5.83 %     5.26 %     5.87 %     6.31 %     5.55 %
    Taxable investment securities     5.42 %     4.76 %     5.32 %     5.59 %     5.28 %
    Tax-exempt investment securities     6.22 %     6.42 %     5.10 %     6.17 %     7.24 %
    Fed funds sold and interest-earning deposits     4.84 %     2.51 %     6.41 %     4.59 %     2.37 %
    Total interest-earning assets     5.70 %     5.12 %     5.69 %     6.04 %     5.47 %
    Interest-bearing liabilities:                              
    NOW accounts     1.10 %     0.58 %     1.19 %     1.09 %     1.02 %
    Money management accounts     0.11 %     0.11 %     0.11 %     0.10 %     0.10 %
    MMDA accounts     3.52 %     2.80 %     3.23 %     3.54 %     3.72 %
    Savings and club accounts     0.26 %     0.22 %     0.26 %     0.25 %     0.26 %
    Time deposits     3.98 %     3.27 %     3.90 %     4.09 %     3.89 %
    Subordinated loans     6.55 %     6.51 %     6.52 %     6.61 %     6.61 %
    Borrowings     4.29 %     3.35 %     4.89 %     4.38 %     4.15 %
    Total interest-bearing liabilities     3.29 %     2.65 %     3.16 %     3.34 %     3.31 %
    Net interest rate spread     2.41 %     2.47 %     2.53 %     2.70 %     2.16 %
    Net interest margin     3.01 %     2.95 %     3.15 %     3.34 %     2.74 %
    Ratio of average interest-earning assets to average interest-bearing liabilities     122.58 %     121.63 %     124.55 %     123.61 %     120.90 %
                                             

    The above information is preliminary and based on the Company’s data available at the time of presentation.

        Years Ended December 31,     2024     2023  
    NON-GAAP RECONCILIATIONS:   2024     2023     Q4     Q3     Q2     Q1     Q4  
    Tangible book value per common share:                                          
    Total equity               $ 121,860     $ 120,246     $ 123,348     $ 121,818     $ 119,495  
    Intangible assets                 (11,045 )     (11,969 )     (4,612 )     (4,616 )     (4,621 )
    Tangible common equity (non-GAAP)                 110,815       108,277       118,736       117,202       114,874  
    Common shares outstanding                 6,123       6,100       6,100       6,100       6,100  
    Tangible book value per common share (non-GAAP)               $ 18.10     $ 17.75     $ 19.46     $ 19.21     $ 18.83  
    Tangible common equity to tangible assets:                                          
    Tangible common equity (non-GAAP)               $ 110,815     $ 108,277     $ 118,736     $ 117,202     $ 114,874  
    Tangible assets                 1,463,829       1,471,157       1,441,599       1,449,056       1,461,177  
    Tangible common equity to tangible assets ratio (non-GAAP)                 7.57 %     7.36 %     8.24 %     8.09 %     7.86 %
    Return on average tangible common equity:                                          
    Average shareholders’ equity   $ 122,902     $ 114,824     $ 121,593     $ 125,626     $ 123,211     $ 121,031     $ 116,265  
    Average intangible assets     6,468       4,629       11,907       4,691       4,614       4,619       4,623  
    Average tangible equity (non-GAAP)     116,434       110,195       109,686       120,935       118,597       116,412       111,642  
    Net income (loss)     3,760       9,293       4,284       (4,644 )     2,000       2,120       2,536  
    Net income (loss), annualized   $ 3,760     $ 9,293     $ 17,043     $ (18,475 )   $ 8,044     $ 8,527     $ 10,061  
    Return on average tangible common equity (non-GAAP) 1     3.23 %     8.43 %     15.54 %     -15.28 %     6.78 %     7.32 %     9.01 %
    Revenue, pre-tax, pre-provision net income, and efficiency ratio:                                          
    Net interest income   $ 41,432     $ 38,919     $ 10,820     $ 11,732     $ 9,480     $ 9,400     $ 9,159  
    Total noninterest income     9,561       5,190       4,906       1,707       1,211       1,737       1,318  
    Net realized (gains) losses on sales and redemptions of investment securities     (71 )     62       249       (188 )     16       (148 )     2  
    Gain on asset sale     3,169       –       3,169       –       –       –       –  
    Revenue (non-GAAP) 2     47,895       44,047       12,308       13,627       10,675       11,285       10,475  
    Total non-interest expense     34,417       29,395       8,544       10,259       7,908       7,706       7,044  
    Pre-tax, pre-provision net income (non-GAAP) 3   $ 13,478     $ 14,652     $ 3,764     $ 3,368     $ 2,767     $ 3,579     $ 3,431  
    Efficiency ratio (non-GAAP) 4     71.86 %     66.74 %     69.42 %     75.28 %     74.08 %     68.29 %     67.25 %

    1 Return on average tangible common equity equals annualized net income (loss) divided by average tangible equity
    2 Revenue equals net interest income plus total noninterest income less net realized gains or losses on sales and redemptions of investment securities and gain on sale of insurance agency
    3 Pre-tax, pre-provision net income equals revenue less total non-interest expense
    4 Efficiency ratio equals noninterest expense divided by revenue

    The above information is preliminary and based on the Company’s data available at the time of presentation.

    The MIL Network –

  • MIL-OSI: Territorial Bancorp Inc. Announces Fourth Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • The Company’s tier one leverage and risk-based capital ratios were 11.68% and 28.96%, respectively, and the Company is considered to be “well-capitalized” at December 31, 2024.
    • Ratio of non-performing assets to total assets of 0.09% at December 31, 2024.

    HONOLULU, Jan. 31, 2025 (GLOBE NEWSWIRE) — Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, reported a net loss of $1.72 million, or $0.20 per diluted share, for the three months ended December 31, 2024. Results reflect $1.53 million of pre-tax merger-related expenses.

    The Board of Directors approved a dividend of $0.01 per share. The dividend is expected to be paid on February 28, 2025, to stockholders of record as of February 14, 2025.

    Hope Bancorp, Inc. Merger Agreement

    As previously announced in a joint news release issued April 29, 2024, Hope Bancorp, Inc. (NASDAQ: HOPE) (Hope Bancorp) and the Company signed a definitive merger agreement. Under the terms of the merger agreement, Company stockholders will receive a fixed exchange ratio of 0.8048 share of Hope Bancorp common stock in exchange for each share of Company common stock they own, in a 100% stock-for-stock transaction valued at approximately $78.60 million, based on the closing price of Hope Bancorp’s common stock on April 26, 2024. The transaction is intended to qualify as a tax-free reorganization for Territorial stockholders.

    Upon completion of the transaction, Hope Bancorp intends to maintain the Territorial franchise in Hawaii and preserve the 100-plus year legacy of the Territorial Savings Bank brand name, culture and commitment to the local communities. The branches will continue to do business under the Territorial Savings Bank brand, as a trade name of Bank of Hope.

    The transaction is subject to regulatory approvals and the satisfaction of other customary closing conditions.

    Interest Income

    Net interest income decreased by $2.21 million for the three months ended December 31, 2024, compared to the three months ended December 31, 2023. Total interest income was $17.91 million for the three months ended December 31, 2024, compared to $17.69 million for the three months ended December 31, 2023. The $217,000 increase in total interest income was primarily due to a $274,000 increase in interest earned on loans and a $245,000 increase in interest earned on other investments. The $274,000 increase in interest income on loans resulted from a 14 basis point increase in the average loan yield, partially offset by a $20.63 million decrease in the average loan balance. The increase in interest income on other investments is primarily due to a $28.86 million increase in the average cash balance with the Federal Reserve Bank of San Francisco (FRB), offset by a 45 basis point decrease in the average interest rate paid on cash balances. The increases in interest income on loans and other investments during the quarter were partially offset by a $302,000 decrease in interest on investment securities, which occurred because of a $40.21 million decrease in the average securities balances.

    Interest Expense and Provision for Credit Losses

    As a result of prolonged increases in short-term interest rates, total interest expense increased by $2.42 million for the three months ended December 31, 2024, compared to the three months ended December 31, 2023. Interest expense on deposits increased by $2.51 million for the three months ended December 31, 2024, primarily due to an increase in interest expense on certificates of deposit (CD) and savings accounts. Interest expense on CDs rose by $1.61 million for the three months ended December 31, 2024, due to a 17 basis point increase in the average cost of CDs and a $132.90 million increase in the average CD balance. Interest expense on savings accounts rose by $892,000 for the three months ended December 31, 2024, due to a 58 basis point increase in the average cost of savings accounts which was partially offset by a $72.23 million decrease in the average balance. The increase in the average cost of CDs and savings accounts occurred as interest rates were raised in response to the increases in market interest rates over that period. The increase in the average balance of CDs and the decrease in the average balance of savings accounts occurred as customers transferred balances from lower rate savings accounts to higher rate CDs. Interest expense on Federal Home Loan Bank (FHLB) borrowings declined by $285,000 for the three months ended December 31, 2024, as the Company paid off $82.00 million in advances from the FHLB during 2024. Interest expense on Federal Reserve Bank (FRB) borrowings rose by $230,000 for the three months ended December 31, 2024, as the Company obtained a $50.00 million advance from the FRB in the fourth quarter of 2023 to enhance the Company’s liquidity and to fund deposit withdrawals. The FRB advances were paid off during the three months ended December 31, 2024.

    The Company had a $51,000 provision for credit losses for the three months ending December 31, 2024, compared to a $144,000 provision for the three months ending December 31, 2023. The decrease in the provision for credit losses was due to a decrease in the mortgage loan portfolio, which was partially offset by an increase in provision related to growth in the consumer loan portfolio.

    Noninterest Income

    Noninterest income increased by $139,000 for the three months ended December 31, 2024 compared to the three months ended December 31, 2023, primarily due to a $129,000 decrease in pension expenses related to an increase in the return on the pension plan’s assets.

    Noninterest Expense

    Noninterest expense increased by $1.42 million for the three months ended December 31, 2024, compared to the three months ended December 31, 2023, primarily due to a $1.34 million increase in general and administrative expenses. General and administrative expenses included $1.53 million of merger-related legal and consulting expenses. Federal Deposit Insurance Corporation (FDIC) premium expense rose by $141,000 for the quarter because of an increase in the FDIC insurance premium rates. The increase in other general and administrative expenses and FDIC premiums was offset by a $170,000 decrease in occupancy expense during the quarter. The decrease was due to a one-time reversal of a previously accrued charge.

    Income Taxes

    Income tax benefit for the three months ended December 31, 2024 was $1.28 million with an effective tax rate of (42.53)% compared to income tax expense of $61,000 with an effective tax rate of 15.44% for the three months ended December 31, 2023. The change from income tax expense to income tax benefit was primarily due to a $3.40 million change in net operating income during the quarter.

    Balance Sheet

    Total assets were $2.17 billion at December 31, 2024 and $2.24 billion at December 31, 2023. Investment securities, including available for sale securities, decreased by $41.74 million to $664.16 million at December 31, 2024 from $705.90 million at December 31, 2023. The decrease in investment securities occurred because of principal repayments on mortgage-backed securities. Loans receivable decreased by $21.89 million to $1.29 billion at December 31, 2024 from $1.31 billion at December 31, 2023. The decrease in loans receivable occurred as loan repayments and sales exceeded new loan originations. Cash and cash equivalents decreased by $3.14 million to $123.52 million at December 31, 2024 from $126.66 million at December 31, 2023 due to repayments of advances from the FHLB, FRB and repurchase agreements, which were offset by increases in deposits and principal repayments on mortgage-backed securities and on loans receivable.

    Deposits increased by $81.06 million from $1.64 billion at December 31, 2023 to $1.72 billion at December 31, 2024. The increase in deposits is primarily due to deposits from state and local governments. The increase in deposits was used with principal repayments on mortgage-backed securities and loans receivable to pay off $82.00 million of maturing FHLB advances, $50.00 million of FRB advances and $10.00 million of repurchase agreements.

    Asset Quality

    Credit quality continues to be extremely important as the Company adheres to its strict underwriting standards. The Company had $1.22 million in delinquent mortgage loans 90 days or more past due at December 31, 2024, compared to $227,000 at December 31, 2023. Non-performing assets totaled $1.93 million at December 31, 2024, compared to $2.26 million at December 31, 2023. The ratio of non-performing assets to total assets was 0.09% at December 31, 2024, compared to 0.10% at December 31, 2023. The allowance for credit losses was $5.11 million at December 31, 2024, compared to $5.12 million at December 31, 2023, representing 0.40% of total loans at December 31, 2024, compared to 0.39% of total loans at December 31, 2023. The ratio of the allowance for credit losses to non-performing loans was 264.56% at December 31, 2024, compared to 226.59% at December 31, 2023.

    About Us

    Territorial Bancorp Inc., headquartered in Honolulu, Hawaii, is the stock holding company for Territorial Savings Bank. Territorial Savings Bank is a state-chartered savings bank which was originally chartered in 1921 by the Territory of Hawaii. Territorial Savings Bank conducts business from its headquarters in Honolulu, Hawaii and has 28 branch offices in the state of Hawaii. For additional information, please visit the Company’s website at: https://www.tsbhawaii.bank.

    Forward-looking statements

    This earnings release contains forward-looking statements, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “may” and words of similar meaning. These forward-looking statements include, but are not limited to:

    • statements of our goals, intentions and expectations;
    • statements regarding our business plans, prospects, growth and operating strategies;
    • statements regarding the asset quality of our loan and investment portfolios; and
    • estimates of our risks and future costs and benefits.

    These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this earnings release.

    The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:

    • factors related to the proposed transaction with Hope Bancorp, including the receipt of regulatory approvals, and other customary closing conditions;
    • general economic conditions, either internationally, nationally or in our market areas, that are worse than expected;
    • competition among depository and other financial institutions;
    • inflation and changes in the interest rate environment that reduce our margins or reduce the fair value of financial instruments;
    • adverse changes in the securities markets;
    • changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements;
    • changes in monetary or fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board;
    • our ability to enter new markets successfully and capitalize on growth opportunities;
    • our ability to successfully integrate acquired entities, if any;
    • changes in consumer demand, spending, borrowing and savings habits;
    • changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission and the Public Company Accounting Oversight Board;
    • changes in our organization, compensation and benefit plans;
    • the timing and amount of revenues that we may recognize;
    • the value and marketability of collateral underlying our loan portfolios;
    • our ability to retain key employees;
    • cyberattacks, computer viruses and other technological risks that may breach the security of our websites or other systems to obtain unauthorized access to confidential information, destroy data or disable our systems;
    • technological change that may be more difficult or expensive than expected;
    • the ability of third-party providers to perform their obligations to us;
    • the ability of the U.S. Government to manage federal debt limits;
    • the quality and composition of our investment portfolio;
    • the effect of any pandemic disease, natural disaster, war, act of terrorism, accident or similar action or event;
    • changes in market and other conditions that would affect our ability to repurchase our common stock; and
    • changes in our financial condition or results of operations that reduce capital available to pay dividends.

    Because of these and a wide variety of other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements.

    Contact: Walter Ida
    (808) 946-1400

    Territorial Bancorp Inc. and Subsidiaries
    Consolidated Statements of Operations (Unaudited)
    (Dollars in thousands, except per share data)
               
        Three Months Ended   Year Ended
        December 31,   December 31,
        2024
    		   2023   2024   2023
    Interest income:                    
    Loans   $ 12,280     $ 12,006   $ 48,820     $ 47,043  
    Investment securities     4,104       4,406   16,857     17,918  
    Other investments     1,524       1,279   6,628     4,127  
    Total interest income     17,908       17,691   72,305     69,088  
                         
    Interest expense:                    
    Deposits     8,731       6,223   31,389     19,484  
    Advances from the Federal Home Loan Bank     1,569       1,854   6,899     6,636  
    Advances from the Federal Reserve Bank     384       154   2,173     183  
    Securities sold under agreements to repurchase     15       46   152     154  
    Total interest expense     10,699       8,277   40,613     26,457  
                         
    Net interest income     7,209       9,414   31,692     42,631  
    Provision (reversal of provision) for credit losses     51       144   73     (3 )
                         
    Net interest income after provision (reversal of provision) for credit losses     7,158       9,270   31,619     42,634  
                         
    Noninterest income:                    
    Service and other fees     285       305   1,170     1,327  
    Income on bank-owned life insurance     257       227   1,007     855  
    Net gain on sale of loans     —       —   19     10  
    Other     200       71   415     279  
    Total noninterest income     742       603   2,611     2,471  
                         
    Noninterest expense:                    
    Salaries and employee benefits     5,181       5,109   19,787     20,832  
    Occupancy     1,539       1,709   6,858     6,910  
    Equipment     1,320       1,278   5,307     5,156  
    Federal deposit insurance premiums     386       245   1,667     982  
    Other general and administrative expenses     2,474       1,137   7,325     4,388  
    Total noninterest expense     10,900       9,478   40,944     38,268  
                         
    (Loss) Income before income taxes     (3,000 )     395   (6,714 )   6,837  
    Income tax (benefit) expense     (1,276 )     61   (2,415 )   1,810  
    Net (loss) income   $ (1,724 )   $ 334   $ (4,299 )   $ 5,027  
                         
    Basic (loss) earnings per share   $ (0.20 )   $ 0.04   $ (0.50 )   $ 0.58  
    Diluted (loss) earnings per share   $ (0.20 )   $ 0.04   $ (0.50 )   $ 0.57  
    Cash dividends declared per common share   $ 0.01     $ 0.05   $ 0.08     $ 0.74  
    Basic weighted-average shares outstanding     8,630,432       8,575,902   8,610,706     8,636,495  
    Diluted weighted-average shares outstanding     8,630,432       8,603,843   8,610,706     8,684,092  
                         
    Territorial Bancorp Inc. and Subsidiaries
    Consolidated Balance Sheets (Unaudited)
    (Dollars in thousands, except per share data)
                 
        December 31,   December 31,
        2024    2023 
    ASSETS            
    Cash and cash equivalents   $ 123,523     $ 126,659  
    Investment securities available for sale, at fair value     18,492       20,171  
    Investment securities held to maturity, at amortized cost (fair value of $513,499 and $568,128 at December 31,2024 and 2023, respectively)     645,669       685,728  
    Loans receivable     1,286,662       1,308,552  
    Allowance for credit losses     (5,114 )     (5,121 )
    Loans receivable, net of allowance for credit losses     1,281,548       1,303,431  
    Federal Home Loan Bank stock, at cost     8,542       12,192  
    Federal Reserve Bank stock, at cost     3,189       3,180  
    Accrued interest receivable     5,800       6,105  
    Premises and equipment, net     7,278       7,185  
    Right-of-use asset, net     12,523       12,371  
    Bank-owned life insurance     49,645       48,638  
    Income taxes receivable     2,082       344  
    Deferred income tax assets, net     1,877       2,457  
    Prepaid expenses and other assets     9,547       8,211  
    Total assets   $ 2,169,715     $ 2,236,672  
                 
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Liabilities:            
    Deposits   $ 1,717,663     $ 1,636,604  
    Advances from the Federal Home Loan Bank     160,000       242,000  
    Advances from the Federal Reserve Bank     —       50,000  
    Securities sold under agreements to repurchase     —       10,000  
    Accounts payable and accrued expenses     19,403       23,334  
    Lease liability     17,967       17,297  
    Advance payments by borrowers for taxes and insurance     6,331       6,351  
    Total liabilities     1,921,364       1,985,586  
                 
    Stockholders’ Equity:            
    Preferred stock, $0.01 par value; authorized 50,000,000 shares, no shares issued or outstanding     —       —  
    Common stock, $0.01 par value; authorized 100,000,000 shares; issued and outstanding            
    8,832,210 and 8,826,613 shares at December 31, 2024 and 2023, respectively     88       88  
    Additional paid-in capital     48,367       48,022  
    Unearned ESOP shares     (1,957 )     (2,447 )
    Retained earnings     206,693       211,644  
    Accumulated other comprehensive loss     (4,840 )     (6,221 )
    Total stockholders’ equity     248,351       251,086  
    Total liabilities and stockholders’ equity   $ 2,169,715     $ 2,236,672  
                 
    Territorial Bancorp Inc. and Subsidiaries
    Selected Financial Data (Unaudited)
                       
                  Three Months Ended
                  December 31,
                    2024       2023  
                       
    Performance Ratios (annualized):            
      Return on average assets         -0.32 %     0.06 %
      Return on average equity         -2.75 %     0.53 %
      Net interest margin on average interest earning assets   1.39 %     1.78 %
      Efficiency ratio (1)           137.09 %     94.62 %
                       
                  At   At
                  December   December
                    31, 2024       31, 2023  
                       
    Selected Balance Sheet Data:            
      Book value per share (2)       $ 28.12     $ 28.45  
      Stockholders’ equity to total assets       11.45 %     11.23 %
                       
                       
    Asset Quality                
    (Dollars in thousands):              
      Delinquent loans 90 days past due and not accruing $ 1,219     $ 227  
      Non-performing assets (3)       $ 1,933     $ 2,260  
      Allowance for credit losses       $ 5,114     $ 5,121  
      Non-performing assets to total assets       0.09 %     0.10 %
      Allowance for credit losses to total loans       0.40 %     0.39 %
      Allowance for credit losses to non-performing assets   264.56 %     226.59 %
                       
                       
    Note:                
                       
    (1) Efficiency ratio is equal to noninterest expense divided by the sum of net interest income and noninterest income
    (2) Book value per share is equal to stockholders’ equity divided by number of shares issued and outstanding
    (3) Non-performing assets consist of non-accrual loans and real estate owned. Amounts are net of charge-offs

    The MIL Network –

  • MIL-OSI New Zealand: Activist News – Government ministers and Human Rights Commission give green light to Destiny Church assaults against Palestine solidarity protest this weekend – PSNA

    Source: Palestine Solidarity Network Aotearoa (PSNA)

    The Palestine Solidarity Network Aotearoa is alarmed Winston Peters and the Human Rights Commissioner have given the green light to Destiny Church assaults against Palestinian support protests this weekend.

     

    PSNA has been contacted by police to say that Brian Tamaki’s Destiny Church has just issued direct threats to ‘shut down’ PSNA if the government and police won’t do it for them.

     

    Tamaki has done this several times over the past 16 months but PSNA Chair John Minto says the orchestrated claims of antisemitism against PSNA this past week have encouraged Brian Tamaki to now believe he could get away with unleashing violence against peaceful protests against the ongoing Israeli genocide in Gaza and the Occupied West Bank.

     

     

    “We are most concerned about our supporters in smaller centres.  We have about 30 local protests in support of Palestinian rights over the next two days.  It just takes two or three Destiny Church adherents to get it into their heads that they are doing God’s work and turn up to beat up our people.

     

    Minto says he can understand why Tamaki thinks he is licenced to carry out his threats.

     

    “Our government still has not uttered one word condemning Israeli genocide.  But when we say we want to tell Israeli soldiers who are on holiday here that they are not welcome in Aotearoa, then the Human Rights Commissioner distorts this into the threats of violence and the Foreign Minister falls into line behind him.”

     

    “We did not advocate violence. We are not encouraging nor are we promoting violence – even against Israelis guilty of participating in genocide having a happy holiday here.”

     

    “In particular we are concerned that the Human Rights Commissioner Stephen Rainbow is leading the claims against Palestinian human rights supporters.”

     

    “Rainbow was a prominent champion of Israeli apartheid before the was appointed Human Rights Commissioner.”

     

    “Only a year ago he was writing such articles for the Israel Institute NZ, entitled “With every chant, Israel’s case grows stronger” condemning “kaffiyeh wearing antics of Labour and Green MP’s of late.”

     

    “Rainbow has not parked his Zionist apartheid politics at the door of the Human Rights Commission.  He is misusing his high status semi-judicial position to openly promote on behalf of Israel – as a state committing genocide – by misrepresenting PSNA.’

     

    “No wonder Brian Tamaki and his Destiny Church think the government will turn a blind eye to Destiny Church escalating into physical attacks.”

     

    Minto says Palestinian New Zealanders will be feeling our government and institutions are sanctioning violence against them.

     

    “Many Palestinians in this country have lost immediate family in the massive Israeli onslaught on Gaza over the past 16 months.  They are well aware the New Zealand Foreign Minister has been absolutely silent about any blame on Israel.  Yet he is instantly quick to condemn local human rights groups which these Palestinians belong to.”

     

    “To send a message of reassurance to Palestinian New Zealanders and hopefully restrain Tamaki, Paul Goldsmith, as Rainbow’s minister, must at the very least immediately suspend Rainbow as Human Rights Commissioner.”

     

    John Minto

    National Chair

    Palestine Solidarity Network Aotearoa

    MIL OSI New Zealand News –

  • MIL-OSI United Nations: Diplomacy key to ending crisis in eastern DR Congo: UN peacekeeping chief

    Source: United Nations 4

    Peace and Security

    The head of UN Peace Operations has underscored the need for continued diplomatic efforts to end the crisis in eastern Democratic Republic of the Congo (DRC) and avert the potential for wider conflict. 

    Jean-Pierre Lacroix briefed journalists at UN Headquarters on Friday, as the M23 rebel group and Rwandan Defence Force (RDF) continued their march toward the city of Bukavu, having taken control of the provincial capital, Goma, earlier this week.

    “We are concerned not only as far as the eastern DRC is concerned, but if you look at the past, this has the potential of triggering a wider regional conflict,” he said.

    “Therefore, it is of the utmost importance that all diplomatic efforts should be geared towards avoiding this and bringing about a cessation of hostilities.”

    Protection a priority

    Mr. Lacroix was speaking as the M23 were some 60 kilometres north of Bukavu and “seem to be moving quite fast.” 

    He provided an update on Goma, where the situation remains tense and volatile but calm is gradually being restored.  Water and electricity are also up and running, though unexploded ordnance continue to present “a very serious obstacle to freedom of movement”.

    The UN has a peacekeeping mission in the DRC, known by the French acronym MONUSCO, and several of its bases have been re-supplied which he said is critical as a “significant number” of people are also sheltering in these locations.

    “The priority of the mission remains the protection of its personnel, assets, and, of course, the many civilians sheltering within its premises – civilians and disarmed combatants. All are being protected by MONUSCO in accordance with international humanitarian law,” he said.

    He reported that the bases “are under significant pressure” when it comes to providing water rations, sanitation and other support to those inside.  

    Political engagement ongoing

    Meanwhile, the MONUSCO leadership is increasing political engagement with the Congolese authorities. The Secretary-General’s Special Representative and Head of the mission, Bintou Keita, has held discussions with top officials, including the Prime Minister and the leaders of the army and police.

    A joint Government-MONUSCO group has been established to coordinate on various issues, including in the security, human rights, humanitarian and communications spheres, as well as the legal status of the territories under the control of the M23 and the RDF.

    Mr. Lacroix highlighted the “florescence” of diplomatic activities in response to the crisis, which includes two UN Security Council meetings, a summit by the East African Community (EAC), another by the Southern African bloc SADC, and a meeting of the African Union’s Peace and Security Council. 

    The European Union, along with the United Kingdom, the United States and others, have also weighed in.

    “Up to now, this has not resulted in cessation of hostilities,” he remarked, noting that “the M23 and the RDF are currently progressing towards the south, towards Bukavu, and that is of course a matter of concern.”

    Respect UN premises

    The peacekeeping chief emphasized the need to ensure the safety and security of UN personnel and civilians, including those sheltering in MONUSCO bases, and respect for UN premises which are inviolable.

    “We cannot stress this enough in the current circumstances where MONUSCO bases are under stress, but also in some cases they have been under threat,” he said.

    He stated that “diplomatic engagement and activities need to continue” towards the ultimate objective of ending the violence. 

    MIL OSI United Nations News –

  • MIL-OSI Australia: New data reveals state by state benefit of Labor’s plan to cut student debts by 20 per cent

    Source: Australian Ministers for Education

    A re-elected Albanese Labor Government will cut a further 20 per cent off all student loan debts, wiping around $16 billion in student debt for around three million Australians.

    University students and graduates will see an average of $5,520 wiped from their HECS debt and new data has revealed how each state and territory is expected to benefit. 

    Labor has also promised students cost-of-living relief under changes to repayment arrangements.

    The minimum threshold for repayments would be lifted by more than $10,000 a year, from about $54,000 to $67,000. 

    For someone on an income of $70,000 this will mean they will pay around $1,300 less per year in repayments.

    These changes will provide significant relief to Australian students and workers with a student loan debt.

    20 PER CENT STUDENT DEBT CUT BY STATE AND TERRITORY

    Source: https://data.gov.au/dataset/ds-dga-ce4c58ec-c930-4a05-8a37-f244d960e5f8/details?q=

    This builds on our reforms to fix the student loan indexation formula, which has cut around $3 billion in student debt.

    Labor has already delivered this change with the majority of those with a student debt receiving their credit or refund from the ATO in December last year. 

    This means, all up, the Albanese Labor Government will cut close to $20 billion in student loan debt for more than three million Australians.

    These changes apply to HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loans.

    We’re helping with the cost of degrees and the cost of living.

    Australians can calculate how much their student debt could be cut here.

    Quotes attributable to Minister for Education, Jason Clare:

    “This is a game-changer for the more than three million Australians. If Labor wins the next election, we will wipe around a further $16 billion from all Australians with a student debt.

    “Last year we wiped $3 billion in student debt and this is the next step. All up, it means we are wiping close to $20 billion in student debt.

    “The Liberals called these changes ‘terrible’. Peter Dutton wants Australians to struggle with more debt, we want to cut it. 

    “The next election is a choice between building Australia’s future or taking Australia backwards.

    “Only a Labor Government will make these changes to help us build a better and fairer education system.”

    Quotes attributable to Assistant Minister for Education, Anthony Chisholm:

    “While Peter Dutton offers no plan to help students and workers with the cost of living, Labor isn’t just offering relief now, we’ve put forward a plan to go further. 

    “We said we’d create a better and fairer education system, our HECS debt relief and changes to how indexation is calculated are a major part of this plan. 

    “Wiping a further $16 billion in student debt will bring millions of current and former students a bit closer to paying off their student loans.

    “But we’re not just cutting HECS debts, we’ve cut taxes, we’ve cut the cost of childcare and we’ve cut the cost of medicines too. 

    “When it comes to the cost of living, the Albanese Labor Government has proven that we’ll do all we can to take the pressure off those doing it tough.”

    MIL OSI News –

  • MIL-OSI USA: Merritt: Kicking off the 2025 Legislative Session 

    Source: US State of Georgia

    The 2025 Legislative Session is officially underway! On Monday, January 13, the Georgia General Assembly reconvened under the Gold Dome, marking the start of this year’s legislative session and the beginning of a new biennium. Over the next 40 legislative days, I’m committed to fighting for policies that create a more equitable and inclusive Georgia for all its residents.

    I am honored to continue serving on the Senate Committees on Government Oversight, Health and Human Services, Insurance and Labor, Natural Resources and the Environments and Urban Affairs where we will address pressing issues such as healthcare reform, firearm violence, and increasing literacy.

    As we enter the heart of the legislative session this week, the work under the Gold Dome is moving full speed ahead. Even as ice and snow swept across South Georgia and Atlanta last week, our commitment to serving the people of Georgia never wavered.

    When we returned to the Capitol this past Monday, we hit the ground running. Some highlights included Chamber of Commerce Day. I want to thank the Gwinnett Chamber of Commerce for joining Tuesday’s General Assembly at the Capitol. I appreciate all the Chamber does for Gwinnett County’s economy, small businesses, and emerging business leaders and entrepreneurs. These events are always exciting, and it’s refreshing to see so many Georgians getting involved in our state government.

    As budget hearings for the next fiscal year continue over the remainder of the legislative session in the form of committee meetings, we have a critical opportunity to shape investments that will directly impact our communities. Governor Brian Kemp’s proposed budget includes $50 million in security grants for individual schools—an essential step toward keeping students safe. However, proper school safety goes beyond physical security; it requires a commitment to addressing the broader issues affecting student well-being. I will continue advocating for a budget that supports working families, invests in underserved communities, and ensures every Georgian has the opportunity to succeed at every turn.

    My fellow Senators and I recognize that our constituents and families deserve to send their children to school without fear, and that is why we are introducing legislation to tackle school gun violence in Georgia. I am proud to co-sponsor SB 49, introduced by Sen. Elena Parent, which aims to address gun violence by making it a punishable offense in Georgia to allow children access to firearms. This legislation would require parents to take greater responsibility for securely storing their firearms, reducing children’s exposure to guns and helping keep our schools safe.

    On Tuesday, Senate Democrats announced several key legislative priorities for this session. We introduced SB 50, a bipartisan effort to close health insurance gaps, expand access to mental health and maternal care and ensure working families can afford quality healthcare. Too many Georgians rely on emergency rooms for primary care because they lack affordable insurance. We believe every Georgian deserves reliable, accessible healthcare, and we will continue pushing for solutions that lower costs and expand coverage. In the coming weeks, we will introduce bills to raise the state minimum wage, improve public schools, and expand access to affordable childcare. Our focus remains on legislation that puts people first, and I am proud to sponsor legislation that does just that.

    I encourage students between the ages of 12 and 18 to apply to spend a day as a Senate Page. This program allows students to participate actively in the legislative process at our State Capitol for a day during the legislative session. This program is an invaluable experience, and I encourage my younger constituents to participate. Interested students may apply for the program here.

    The weeks ahead will be eventful, with key debates and legislation shaping Georgia’s future. I’m committed to keeping you informed and ensuring your voice is heard. Thank you for your trust—I encourage you to stay engaged as we work toward a stronger, fairer Georgia.

    ####

    Sen. Nikki Merritt represents the 9th Senate District which includes portions of Gwinnett County. She may be reached at (404) 463-2260 or via email at nikki.merritt@senate.ga.gov

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI USA: COLUMN: Walker: Weeks Two and Three Under the Gold Dome

    Source: US State of Georgia

    By: Sen. Larry Walker, III (R–Perry)

    The third week of the 2025 Legislative Session has wrapped up, and we’re staying focused on passing commonsense legislation that puts Georgia families, businesses and communities first.

    Last week’s snowstorm may have delayed budget hearings for a few days, but it didn’t slow us down. The General Assembly has been hard at work in joint sessions, carefully reviewing budget requests to ensure taxpayer dollars are spent wisely. Passing a balanced budget is not only our constitutional duty—it’s the foundation of a responsible government that serves its people.

    One of the most crucial budget proposals this session is Governor Brian P. Kemp’s plan to return $1 billion in surplus funds directly to taxpayers. Thanks to years of conservative budgeting and fiscal responsibility, we’re in a position to give back to the hardworking Georgians who keep our state running. This is just part of the $2.2 billion in statewide allocations designed to benefit families, businesses and communities across Georgia. I’m proud to support Gov. Kemp’s efforts to strengthen our economy by putting more money back in your pockets.

    Another key priority is ensuring communities hit hardest by Hurricane Helene have the resources they need to rebuild. Gov. Kemp has proposed $614.72 million in recovery funding, including $150 million for the Governor’s Emergency Fund to help with debris removal and housing assistance. Another $300 million will go to the Georgia Department of Transportation to restore roads and infrastructure. Many rural counties are still reeling from this storm, and we’re committed to making sure they get the support they need to recover and move forward.

    Back at the Capitol, we hit the ground running this week, advancing legislation that reflects our values and priorities. One of the bills I’m proud to sponsor, Senate Bill (SB) 35, would increase the number of days’ notice that a policyholder must be given before his or her homeowners’ insurance policy is not renewed. The previous 30 days’ notice of nonrenewal is not enough time for the homeowner to avoid any lapses in coverage or properly address concerns with their insurance company. With this in mind, SB 35’s proposed 60 days’ notice will give Georgians and their insurance agent sufficient time to find replacement coverage and make sure that their home is protected.

    I’m also proud to support Senate Bill (SB) 52. This legislation, also known as the Timberlands Recovery, Exemption and Earnings Stability (TREES) Act, would allow local governments to provide tax relief for the timber industry. Timber is one of Georgia’s most important industries, and communities like those in the 20th Senate District depend on timber as an agricultural investment and a source of tax revenue. The devastation wrought by Hurricane Helene has left that industry in desperate need of relief, and with the TREES Act, we will waive the timber harvest tax in hurricane ravaged counties to help these communities recover from the catastrophe of this unprecedented storm.

    As committee meetings pick up, we’re working hard on issues that matter most to our communities, from protecting our schools to strengthening local infrastructure. I chaired the first meeting of the Senate Committee on Insurance and Labor this week, and I look forward to the committee’s regular meetings in the coming weeks.

    Finally, I encourage students ages 12 to 18 to apply for the Senate Page Program. This is an excellent way for young people to see firsthand how the General Assembly works. If you know a student who might be interested, they can apply on the Senate website here.

    As always, I’m here to listen. If you have any questions, concerns, or ideas about our work at the Capitol, please don’t hesitate to reach out. It’s an honor to serve you, and I appreciate your trust as we work together throughout the remainder of the 2025 legislative session.

    # # # #

    Sen. Larry Walker serves as Secretary of the Majority Caucus and Chairman of the Senate Committee on Insurance and Labor. He represents the 20th Senate District, which includes Bleckley, Dodge, Dooly, Laurens, Treutlen, Pulaski and Wilcox counties, as well as portions of Houston County.  He may be reached by phone at (404) 656-0095 or by email at Larry.Walker@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI Canada: Bernadette McIntyre Installed as the 24th Lieutenant Governor of Saskatchewan

    Source: Government of Canada regional news

    Released on January 31, 2025

    Her Honour the Honourable Bernadette McIntyre was installed as the 24th Lieutenant Governor of Saskatchewan during a ceremony at the Legislative Building today.

    “Past Lieutenant Governors have exemplified volunteerism and service to Saskatchewan people, and I am confident with a highly distinguished career, spanning over areas such as tourism, sports, and business, that Her Honour is no different,” Premier Scott Moe said. “I offer my congratulations to Ms. McIntyre, and look forward to seeing the outstanding service she will provide to the province.”

    Following the installation ceremony, Lieutenant Governor McIntyre inspected an honour guard in the Legislative Assembly Rotunda.

    The Lieutenant Governor is the personal representative of the Sovereign in Saskatchewan and is responsible for granting Royal Assent to provincial laws, as well as summoning and dissolving the provincial legislature.

    Under the Canadian Constitution, Lieutenant Governors are appointed by the Governor General on the advice of the Prime Minister for a minimum of five years; however, there is no fixed term of office.

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    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Economics: Paraguay President: Any multilateralism crisis can only be solved with more multilateralism

    Source: World Trade Organization

    President Peña noted that Paraguay is one of the most open economies in the world, firmly anchored in the belief that “free commerce is a bedrock of civilized peoples.” In fact, Paraguay is the second most open economy in Latin America, with no significant restrictions on trade, a simple tax system and a markedly pro-business stance, he said. As a landlocked country and primarily an agricultural exporter, producing food for ten times its population, Paraguay has no other alternative, he added.

    “We understand both the opportunities and vulnerabilities of global trade. Our experience has shown us that the path to development requires not isolation but deeper integration into global markets – guided by clear, fair and enforceable rules. For middle-sized economies like Paraguay, the multilateral trading system is not just one option among many, it is simply essential for our development and prosperity. This is why I believe that any crisis of multilateralism can only be solved by one thing: more multilateralism,” he declared.

    President Peña stressed that Paraguay’s commitment to the WTO stems from its experience as a country which has constructed a stable democracy with consistent economic policies and its unique perspective as a bridge between countries with different levels of development. It also comes from the deep conviction that multilateralism remains the most effective path to sustainable development, he added.

    Referring to the historic decision to establish multilateral institutions after the Second World War, President Peña noted that it is precisely during difficult times that organizations like the WTO have the unique opportunity not only to show the world their crucial importance but to justify their existence. “The creation of an international organization which seeks to put order into chaos in the world of commerce was not only a sound decision but a brilliant and endurable insight. … The WTO has been, is and will be a great idea,” he added.

    In his address to WTO ambassadors, heads of intergovernmental organizations, representatives of non-governmental organizations, business and academia, President Peña also underscored that WTO members must be proactive in order to overcome the challenges faced by the system.

    He pointed to the need to make meaningful progress on agricultural reform to achieve less distorted markets and enhance food security, and to the importance of restoring a fully functioning dispute settlement system accessible to all members. He also called on members to ensure that environmental measures enhance, rather than hinder, international trade, and to secure justice, fairness and equality, the most fundamental principles of international commerce.

    The lecture – titled “Sustaining Multilateralism in Uncertain Times: The Role of Middle Powers” – was preceded by opening remarks by WTO Director-General Ngozi Okonjo-Iweala, who stressed that under President Peña Paraguay registered South America’s strongest rates of GDP growth in 2023 and 2024, according to IMF data, with a positive outlook for 2025 as well.

    DG Okonjo-Iweala noted that as a landlocked developing country, Paraguay faces challenges familiar to many WTO members. In the case of Paraguay, these challenges have to do with diversifying its exports beyond meat, soybeans and electricity, and the vulnerability to climate change of the Paraguay-Parana River waterway that connects the country to world markets for goods.

    DG Okonjo-Iweala referred to the fifth WTO Trade Policy Review (TPR) of Paraguay undertaken in November 2024 and the recognition by other members of Paraguay’s active and constructive engagement at the WTO, particularly in agriculture negotiations. She noted that at the TPR meeting, members praised Paraguay’s broadly open trade and investment environment and noted its reliance on regional and global trade to drive development and poverty reduction.

    DG Okonjo-Iweala also drew attention to the current challenging environment and the potential for the world to become more fragmented. “We have lived in that world before in the 1930s. It was poorer and more violent. So we owe it to our children and grandchildren,” she said, to preserving the benefits of multilateralism whilst fixing its shortcomings. “This would help us build them a better future,” she added.

    A recording of the event can be viewed here.

    About the WTO’s Presidential Lecture Series

    The WTO’s Presidential Lecture Series provides a platform for distinguished speakers from around the world to deliver lectures on various aspects of multilateral cooperation and global governance. Several events are held each year.

    More information on the lecture series is available here.

    Share

    MIL OSI Economics –

  • MIL-OSI USA: Schatz Underscores Urgent Need for Uninterrupted, Strategically Critical, Life-Saving Foreign Aid

    US Senate News:

    Source: United States Senator for Hawaii Brian Schatz

    WASHINGTON — At yesterday’s Senate Foreign Relations Committee hearing on the “Malign Influence of the People’s Republic of China at Home and Abroad: Recommendations for Policy Makers,” U.S. Senator Brian Schatz (D-Hawai‘i) underscored the importance of U.S. leadership and global engagement in advancing American interests. Using the Philippines and Papua New Guinea as examples, Schatz asked witnesses to lay out the dire consequences of U.S. disengagement, as well as the opportunities it would create for the PRC.

    Prior to his questioning, Schatz, who also serves as Ranking Member of the Senate Appropriations Subcommittee on State and Foreign Operations, addressed the chaos caused by the Trump Administration’s recent foreign aid funding freeze, stating, “We really just, on a nonpartisan basis, have to keep the pressure on the State Department to effectuate the Secretary’s policy because right now there’s a ton of confusion, and these are faraway places, and the original stop work orders are still being observed in some places and not in others. The furloughs are in some places being undone and not in others, and this is not some policy question anymore. It’s a question of executing what the Secretary has asked. So I just ask that we continue to put pressure on a bipartisan basis and just to understand the urgency of the moment. Four days ago, I asked now how bad is this, and they said ‘babies dying by the weekend’ and so this is not the kind of thing that we can get back to on Monday. We all have to exert pressure and make sure that the State Department gets this right, and I’m talking about in the next 24 hours.”

    Having recently discussed strengthening security and economic ties with the Philippine Ambassador to the United States Jose Manuel Romualdez, Schatz asked, “I want to just start with the Philippines. As you know, they’re one of our closest allies. We have economic assistance arrangements, we have life-saving support that we provide, and of course we have a security partnership that’s lasted generations. If you were a senior CCP official, how would you view this freeze in foreign aid coming from the United States?”

    Peter Mattis, President of the Jamestown Foundation, replied, “I would be looking to exploit the opportunity that is there. And over the years the political fluctuations in the Philippines have offered those opportunities. They’ve disrupted the relationship. They’ve disrupted partnership, and anything from Beijing’s perspective, or if I were… a senior official in the United Front Work Department, I would be doing everything I can to exploit whatever chaos is there in the U.S.-Philippine relationship.”

    Schatz then pivoted to the subject of Papua New Guinea (PNG), a country rich in natural resources, saying, “It’s at risk of becoming a foothold for PRC military expansion. But right now it has the highest HIV incidence in the Pacific, and it’s rising. It also has a lot of unexploded ordinance, and last year the Department of Defense signed an $864 million defense bill deal with Port Morrisby, so it seems to me that the Philippines is one question: we have a bilateral relationship that spans generations and is sturdy, like under Duterte less sturdy, but still solid even when we have a president who is an unreliable partner, but in places like PNG where to use… the domestic equivalent they’re sort of swing states they’re open for business… to being aligned with China, to being aligned with the United States, to playing both sides against the middle. I’m particularly concerned about smaller countries for whom a withholding of economic or military or life-saving support is not something they can sort of weather, and so I’m wondering if you can talk about PNG in particular.”

    Dr. Melanie Hart, Senior Director of Global China Hub at Atlantic Council, answered, “Basically we’ve given Beijing a blank check and kneecapped the United States and the entire global pro-democracy movement. If you want to talk about PNG and their need for medicine, there is very clear pattern that, during the COVID crisis, Beijing forced nations around the world… to carry out its political edicts in exchange for COVID vaccines. I have no doubt that Beijing is already showing up in capitals where the United States is pulling back and saying here is your HIV medicine and guess what: here’s the three things you need to do for me today to get it.”

    Schatz was recently named the Ranking Member of the Senate Appropriations Subcommittee on State and Foreign Operations, which appropriates billions of dollars in funding for the U.S. Department of State, U.S. Agency for International Development (USAID), and other critical agencies and programs that provide humanitarian aid, global health support, and economic and security assistance, among other things to those in need around the world.

    Video of Senator Schatz’s full exchange at today’s hearing is available here.

    MIL OSI USA News –

  • MIL-OSI Canada: Amid global uncertainty, minister meets with economic forecast council

    Source: Government of Canada regional news

    The impacts of potential U.S. tariffs are adding uncertainty to the global and domestic outlook, but private-sector forecasters indicate British Columbia is well positioned to take on whatever comes next.

    At their annual meeting with the finance minister on Friday, Jan. 31, 2025, the 13 independent private sector forecasters from across Canada that make up B.C.’s Economic Forecast Council (EFC) noted that, like all provinces, B.C.’s economic outlook is affected by global and domestic forces, including federal immigration targets. Forecasters reaffirmed that in the absence of tariffs, they had expected steady economic growth for B.C.

    Members said a diverse export network and a resource-rich environment give B.C. an advantage over other provinces, while some were encouraged by B.C.’s work to date to address housing supply, skills training and affordability challenges.

    “We are in times of significant global uncertainty, and we can expect this instability to continue through the next four years,” said Brenda Bailey, Minister of Finance. “Our approach is to stand up for British Columbians by strengthening our economy, and continuing to diversify our trading network, while supporting the people that need it most. Our Economic Forecast Council has noted that while the uncertainty of threats from the south can make the planning and budgeting process more challenging than typical, with a diverse economy, B.C. remains well-positioned to attract new investment, skilled workers, and development opportunities. While there are challenges ahead, we have everything we need here to thrive.”

    The Economic Forecast Council estimates that real GDP in B.C. grew by 1.2% in 2024, higher than the Province’s projection in the Fall 2024 Economic and Fiscal Update. In early January, the council forecast B.C. real GDP growth of 1.9% in 2025, in line with the ministry’s outlook, and steady economic growth of 2.0% annually on average through 2029. These projections do not fully include the impact of potential U.S. tariffs.

    Economic Forecast Council members will have an opportunity to revise their forecasts before the budget.

    B.C.’s finance minister meets each year with the Economic Forecast Council, whose forecasts and feedback help inform the Province as it prepares the next provincial budget. The budget will be released on March 4, 2025.

    Learn More:

    To access the Fall 2024 Economic and Fiscal Update, visit: https://www2.gov.bc.ca/gov/content/governments/finances/reports/quarterly-reports

    MIL OSI Canada News –

  • MIL-OSI USA: Lee Introduces the Knife Owners Protection Act

    US Senate News:

    Source: United States Senator for Utah Mike Lee

    Senator Mike Lee (R-UT) has reintroduced the Knife Owners Protection Act (KOPA), legislation that would protect traveling knife owners from the vagaries of restrictive state and local laws. If possession of the knife is legal in the state where the journey starts and ends, and provided the knife is secured in accordance with the requirements set in KOPA, knife owners would no longer be threatened with arrest simply for traveling from one state to another. The legislation is co-sponsored by Sens. Cynthia Lummis (R-WY) and Bill Cassidy (R-LA).

    Originally introduced in 2013, KOPA serves as the first proactive pro-knife federal legislation in the nation’s history. In 1986, Congress enacted the Firearm Owner Protection Act (FOPA) to protect law-abiding gun owners from an inconsistent patchwork of local laws, but no such protections currently exist for knife owners.

    “Patchwork and unclear knife laws across America endanger the rights of law-abiding knife owners, especially when traveling,” said Senator Lee. “This legislation will provide consistency and clarity for Americans who safely transport knives between jurisdictions and prevent capricious prosecutions against them.”

    “Those who travel across the country with knives for work, recreation and self-defense are presently subject to arrest and prosecution under a confusing patchwork of inconsistent state and local laws,” said Knife Rights Chairman Doug Ritter. “What is perfectly legal in one place may be a serious crime in another, resulting in forfeiture of the knife and carrying significant penalties including jail time. Enforcement is not uniform even within jurisdictions and is too often subject to the vagaries of political expediency.”

    For bill text, click HERE
    For a one-pager, click HERE

    MIL OSI USA News –

  • MIL-OSI Australia: Independent National Student Ombudsman Opens

    Source: Australian Ministers for Education

    The National Student Ombudsman commences from today to hear from students, investigate complaints and resolve disputes with universities.

    Sarah Bendall will lead the new National Student Ombudsman function of the Commonwealth Ombudsman’s office.

    The National Student Ombudsman forms part of the Action Plan to address gender-based violence in higher education, agreed to by Education Ministers earlier last year.

    Not enough has been done to address sexual violence in our universities, and for too long, students haven’t been heard.

    The 2021 National Student Safety Survey shows one in 20 students have been sexually assaulted since they started university and one in six have been sexually harassed. One in two have felt like they weren’t heard when they made a complaint.

    The Ombudsman will also be able to take complaints from students about a provider’s handling of other matters, for example where a student is subjected to antisemitism, Islamophobia or other forms of racism on campus. 

    It will not handle complaints about issues such as academic judgement or employment matters.

    The Ombudsman will allow higher education students to escalate complaints about the actions of their higher education provider.

    The Ombudsman will:

    • consider whether decisions and actions taken by higher education providers are unreasonable, unjust, oppressive, discriminatory, or otherwise wrong
    • recommend a provider takes specific steps to resolve the complaint
    • share information with relevant regulators for further compliance action if needed
    • offer a restorative engagement process between the student and the provider where appropriate, and
    • bring parties together to resolve complaints through an alternative resolution process.

    The Ombudsman will also have strong investigative powers, similar to those of a Royal Commission, including:

    • to require a university to provide information, documents or other records relevant to an investigation
    • to enter premise of a university as part of an investigation, and
    • to require an officer or employee of a university to attend and answer questions before the Ombudsman.

    The Albanese Government will also next week introduce legislation to establish a National Higher Education Code to Prevent and Respond to Gender-based Violence.

    The National Code will set standards and requirements that all higher education providers must meet to make students and staff safer. 

    Addressing sexual assault and sexual harassment in universities was one of five priority actions from the Australian Universities Accord Interim Report.

    The Action Plan was informed by consultation with victim-survivor advocates, students, staff, the higher education sector, student accommodation providers and subject matter experts, including the CEO of Our Watch, Patty Kinnersly, and across governments.

    The Action Plan will contribute to the work to end gender-based violence in one generation as outlined in the National Plan to End Violence against Women and Children 2022–2032, which is being led by Minister for Social Services, the Hon Amanda Rishworth MP.

    Students can lodge a complaint or find out more by visiting www.nso.gov.au

    Quotes attributable to Minister for Education Jason Clare:

    “The new National Student Ombudsman will be able to support students and resolve disputes with university providers.

    “Not enough has been done to address sexual violence in our universities and for too long students haven’t been heard. We’re changing that.

    “Universities aren’t just places where people work and study, they are also places where people live, and we need to ensure they are safe.

    “That’s why the Albanese Labor Government has listened to students and survivors and taking action and there’s more to come.

    “We will introduce legislation for a new National Code that will give the Student Ombudsman real teeth to hold providers to account.”

    Quotes attributable to Attorney-General Mark Dreyfus:

    “Everyone should feel safe and supported on university campuses so they have the best chance to succeed and thrive.

    “The National Student Ombudsman opening its doors means that now students have a place to go where they can be heard and action can be taken.”

    If you or someone you know is experiencing, or at risk of experiencing, domestic, family or sexual violence, call 1800RESPECT on 1800 737 732, chat online via www.1800respect.org.au or text 0458 737 732. 

    MIL OSI News –