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Category: Transport

  • MIL-OSI: Turtle Beach Corporation to Report First Quarter 2025 Financial Results on Thursday, May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., April 28, 2025 (GLOBE NEWSWIRE) — Turtle Beach Corporation (Nasdaq: TBCH) a leading gaming headset and accessories brand, today announced it will report financial results for the first quarter 2025 on Thursday, May 8, 2025, after the close of trading on the Nasdaq Stock Market.

    The Company will also host a conference call and audio webcast at 5:00p.m. ET / 2:00p.m. PT that same day to review the results. The call will be hosted by Cris Keirn, Chief Executive Officer, and Mark Weinswig, Chief Financial Officer.

    Conference Call Information
    The live webcast of the call will be available on the “Events & Presentations” page of the Company’s website at corp.turtlebeach.com. Interested individuals may also join by dialing 1-877-407-0792 or 1-201-689-8263. To avoid delays, participants are encouraged to dial into the conference call 15-minutes ahead of the scheduled start time.

    A telephone replay of the call will be available through May 22, 2025, and can be accessed by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13752645. A replay of the webcast will also be available on the investor relations website for a limited time.

    About Turtle Beach Corporation

    Turtle Beach Corporation (the “Company”) (corp.turtlebeach.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products (www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: TBCH.

    Cautionary Note on Forward-Looking Statements
    This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions, or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “goal”, “project”, “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements are only predictions and are not guarantees of performance. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. Forward-looking statements are based on management’s current beliefs and expectations, as well as assumptions made by, and information currently available to, management.

    While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to macroeconomic conditions affecting the demand for our products, logistic and supply chain challenges and costs, dependence on the success and availability of third-parties to manufacturer and manage the logistics of transporting and distributing our products, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

    CONTACTS

    Investors:
    tbch@icrinc.com
    (646) 277-1285

    Public Relations & Media:
    MacLean Marshall
    Sr. Director, Global Communications
    Turtle Beach Corporation
    (858) 914-5093
    maclean.marshall@turtlebeach.com

    The MIL Network –

  • MIL-OSI USA: AFSCME’s Saunders: Alexis Herman was a trailblazer in every sense of the word

    Source: American Federation of State, County and Municipal Employees Union

    WASHINGTON – AFSCME President Lee Saunders released the following statement in memory of Alexis Herman, the U.S. Secretary of Labor under President Bill Clinton and the first African American to hold the position:

    “Alexis Herman was a trailblazer in every sense of the word, from her earliest days as a student overcoming segregation in Alabama to her historic tenure as the first African American to lead the U.S. Department of Labor. She believed deeply in labor rights as human rights. Her leadership as Secretary of Labor opened the door to higher wages and safer working conditions for millions of people across America and around the world. Secretary Herman’s belief in public service as a fundamental good is shared by all 1.4 million members of the AFSCME family, and today we join the entire labor movement in mourning her loss.”

    MIL OSI USA News –

  • MIL-OSI USA: Bill Dawson Trail in Seattle closes for construction until 2030 beginning May 12

    Source: Washington State News 2

    Crews will build a temporary haul road on the footprint of the trail during the five-year closure to access work zones in Portage Bay

    SEATTLE – People who walk, bike or roll through Seattle’s Montlake neighborhood will need to prepare for a five-year closure of the Bill Dawson Trail beginning Monday, May 12.

    The trail will close as part of the SR 520 Portage Bay Bridge and Roanoke Lid Project. Contractor crews working for the Washington State Department of Transportation will use the closure to build a temporary haul road so crews and equipment can access the work trestle to build the new Portage Bay bridges.

    What this means for you

    People who regularly use this trail will need to follow the signed detours or use alternate routes. The trail will remain closed around-the-clock until 2030.

    There will be two signed detour routes posted in and around the Montlake neighborhood – one for people walking/rolling, and the other for people biking. Montlake Playfield still will be accessible during the closure.

    Learn more about the why

    Read this online FAQ for detailed information on the trail closure and why it will remain for five years.

    Bill Dawson Trail improvements

    After the Portage Bay Project is complete, the trail between the west end of the new tunnel and the Montlake Playfield will be wider (from 8 feet to 14 feet) and flatter (grade no steeper than 5%). The connection from the Bill Dawson Trail to Montlake Boulevard near the NOAA property will be restored by adding new stairs and an ADA-compliant ramp on the west side of Montlake Boulevard.

    In addition to the above improvements, the re-opened trail will have:

    • A raised 6-foot-wide sidewalk – next to the 14-foot path – to separate walkers and bikers as they travel between the existing Montlake tunnel and the south side of the Portage Bay Bridge
    • New lighting and more clearance under SR 520
    • New landscaping and hardscaping (e.g., gravel, retaining walls, railings, etc.) features
    • A new ramp structure connecting the Bill Dawson Trail to the new SR 520 Trail extension across Portage Bay

    Stay up to date

    To get the most up-to-date information on closures and construction work, visit and bookmark the SR 520 Construction Corner website. Real-time traffic maps are available on the WSDOT Travel Map. Be sure to follow us on social media both on Twitter/X and BlueSky for the latest updates.

    People also may call or text our 24-hour construction hotline at 206-319-4520 or email us at sr520bridge@wsdot.wa.gov

    MIL OSI USA News –

  • MIL-Evening Report: How ICE is becoming a secret police force under the Trump administration

    Source: The Conversation (Au and NZ) – By Lee Morgenbesser, Associate Professor, School of Government and International Relations, Griffith University

    Secret police are a quintessential feature of authoritarian regimes. From Azerbaijan’s State Security Service to Zimbabwe’s Central Intelligence Organisation, these agencies typically target political opponents and dissidents through covert surveillance, imprisonment and physical violence.

    In contrast to the regular police and armed forces, secret police primarily use preemptive repression to thwart threats to the government.

    In Nazi Germany, for example, Gestapo informants penetrated all levels of society, producing an atmosphere of distrust among those against Adolf Hitler. In Uganda, Idi Amin’s State Research Bureau employed sophisticated spying equipment and intercepted mail at the post office to root out supposed saboteurs.

    In Syria, Bashar al-Assad relied on the General Intelligence Directorate to oversee a network of torture centres. And in Venezuela, Nicolás Maduro has used the Bolivarian National Intelligence Service (Sebin) to spy on opponents overseas, often running operations out of diplomatic missions.

    Since US President Donald Trump took power in January, Immigration and Customs Enforcement (ICE) has become a far more visible and fearsome force on American streets.

    Though ICE is ostensibly still bound by constitutional limits, the way it has been operating bears the hallmarks of a secret police force in the making.

    As an expert on authoritarian regimes, I’ve studied historical and contemporary secret police forces extensively across Africa, Asia and Europe. They typically meet five criteria:

    • they’re a police force targeting political opponents and dissidents

    • they’re not controlled by other security agencies and answer directly to the dictator

    • the identity of their members and their operations are secret

    • they specialise in political intelligence and surveillance operations

    • they carry out arbitrary searches, arrests, interrogations, indefinite detentions, disappearances and torture.

    How close is ICE to becoming a secret police force? Let’s consider each of these criteria.

    Targeting dissidents

    ICE has used the pretext of combating antisemitism to target dissidents. A branch of the agency previously used to target drug smugglers and human traffickers has reportedly been directed to scan social media for posts sympathetic to Hamas.

    On March 8, ICE arrested the prominent pro-Palestinian activist Mahmoud Khalil, a legal resident. It was a similar story for Rumeysa Ozturk, a university student grabbed off the street on March 25 by ICE agents.

    Trump has cited the Immigration and Nationality Act of 1952 as the legal pretext for ICE’s actions in these cases and others. The law allows the US government to deport anyone whose presence has “adverse foreign policy consequences” for the country.

    Because Khalil and others are being targeted for their activism, legal scholars say the government appears to be “retaliating” against constitutionally protected free speech it disagrees with.

    Directly controlled by a dictator

    While ICE does not report directly to Trump, the agency is controlled by people who have shown intense loyalty to him.

    ICE is part of the Department of Homeland Security, which is overseen by stalwart Trump ally Kristi Noem. She is supported by Tom Homan, a former ICE director who Trump appointed as his “border czar” in November 2024.

    Despite a court order barring the deportations of alleged Venezuelan gang members to a prison in El Salvador, Homan has remained defiant:

    We are not stopping. I don’t care what the judges think.

    The pertinent question now is whether Noem or Homan would refuse to follow a dictate from Trump in the face of a direct court order.

    Opaque operations

    ICE agents are increasingly operating in secret. The individuals who took Ozturk off the street in a widely shared video claimed to be police officers, even though they were in plain clothes and face marks.

    Similarly, ICE agents in plain clothes detained two men during a raid on a courthouse in Charlottesville, Virginia, on April 22. When two bystanders asked to see a warrant, they were ordered not to “impede” the agents’ lawful duties. ICE later said the two women would be prosecuted.

    Also last week, ICE agents attempted to arrest a man at a Wisconsin courthouse without a warrant. After a judge intervened, she was arrested herself by the FBI and charged with two felonies.

    This shroud of opacity has been accompanied by an end to local agency liaison meetings aimed at helping people seek answers to ICE’s actions.

    Surveillance capabilities

    ICE is organised into two distinct law enforcement components, giving it both political intelligence gathering and surveillance capabilities.

    Its Homeland Security Investigations arm includes an intelligence division, while its Enforcement and Removal Operations arm uses third-party companies such as Geo Group, Giant Oak, and Palantir to conduct mass surveillance.

    Most worryingly, ICE is trying to procure greater intelligence and surveillance capabilities by soliciting pitches from private companies to monitor threats across the internet.

    According to a procurement document, contractors would be directed to focus on the backgrounds of social media users and use facial recognition capabilities to gather information on people. Criticisms of ICE itself would be monitored, too.

    Unlawful policing

    There has been a stream of reports exposing how ICE is conducting arbitrary searches, arrests, interrogations, and indefinite detentions.

    Some of the most egregious reported examples include:

    Since Trump’s inauguration, at least three people have died in ICE detention facilities, the latest in a string of fatalities in recent years.

    Prolonged solitary confinement is reportedly widespread. UN experts say this can amount to torture.

    Potentially expanded scope

    Overall, the evidence shows ICE meets most of the criteria for being a secret police force. It has yet to target political opponents, which I define narrowly as members of the Democratic Party. And it is not directly controlled by Trump, although the current structure provides him with plausible deniability.

    While the agency is far from resembling history’s most feared secret police forces, there have so far been few constraints on how it operates.

    The worst may be yet to come. A budget bill making its way through Congress would provide ICE with up to US$175 billion (A$274 billion) in funding over the next decade. (Its current annual budget is US$9 billion, or A$14 billion.) This would supercharge its use of surveillance, imprisonment and physical violence.

    When combined with a potential shift towards targeting US citizens for dissent and disobedience, ICE is fast becoming a key piece in the repressive apparatus of American authoritarianism.

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

    – ref. How ICE is becoming a secret police force under the Trump administration – https://theconversation.com/how-ice-is-becoming-a-secret-police-force-under-the-trump-administration-255019

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Steadyhand Announces Update Regarding Special Meetings of Unitholders

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, April 28, 2025 (GLOBE NEWSWIRE) — Steadyhand Investment Management Ltd. (“Steadyhand”) has discovered that an error was made in connection with the control numbers that were included in the forms of proxy (the “Proxies”) which were mailed to the registered holders of Series A units (the “Unitholders”) of Steadyhand Savings Fund, Steadyhand Income Fund, Steadyhand Founders Fund, Steadyhand Builders Fund, Steadyhand Equity Fund, Steadyhand Global Equity Fund, Steadyhand Small-Cap Equity Fund and Steadyhand Global Small-Cap Equity Fund (collectively, the “Funds”) in connection with the special meetings of Unitholders of the Funds to be held on May 9, 2025 (the “Meetings”).

    Steadyhand has arranged for TSX Trust Company, as proxy agent and scrutineer in connection with the Meetings, to mail corrected Proxies to each Unitholder of the Funds. Unitholders are asked to discard the Proxies previously received with the joint management information circular in respect of the Meetings (the “Circular”) and to use the corrected Proxies, once received, to vote at the Meetings. Unitholders that previously voted online using the Proxies received with the Circular are asked to resubmit their vote using the corrected Proxies which will be mailed to Unitholders on April 28, 2025.

    In light of the above, the proxy agent has extended the cut-off time for submission of Proxies to 10:00 a.m. (Vancouver time) on May 8, 2025.

    About Steadyhand

    Steadyhand is a low-fee investment firm with a mission of providing Canadians with a better investing outcome and a simpler, more personalized experience. It offers clear-cut advice, customized plans, and most importantly, a steady hand, to help investors achieve their financial goals. The firm has approximately $1.3 billion of assets under management with offices in Vancouver and Toronto.

    For further information, please contact:

    David Toyne
    Chief Development Officer
    Steadyhand Investment Funds Inc.
    1-888-888-3147

    The MIL Network –

  • MIL-OSI: Gabelli Global Utility & Income Trust Announces Additional Put Dates for Series B Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    RYE, N.Y., April 28, 2025 (GLOBE NEWSWIRE) — The Board of Trustees of the Gabelli Global Utility & Income Trust (NYSE American: GLU) (the “Fund”) has approved additional put dates for the Series B Cumulative Puttable and Callable Preferred Shareholders (the “Series B Preferred”). The annual dividend rate of the Series B Preferred is 5.20%.

    Each Series B Preferred shareholder now has the right to put their shares to the Fund in each of the 60-day periods ending June 26, 2025, December 26, 2025, June 26, 2026, December 26, 2026 and June 26, 2027 after which the Series B preferred becomes perpetual.

    The Series B preferred shares are callable, after proper notification is given, at the liquidation value of $50.00 per share plus accrued dividends.

    As background, the Series B Preferred Shares, which trade on the NYSE American under the symbol “GLU Pr B”, were issued on December 19, 2018, at $50.00 per share.

    Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding this and other information about the Fund is available by calling 800-GABELLI (800-422-3554), visiting www.gabelli.com, or emailing ClosedEnd@gabelli.com.

    About The Gabelli Global Utility & Income Trust
    The Gabelli Global Utility & Income Trust is a diversified, closed-end management investment company with $122 million in total net assets whose primary investment objective is to seek a consistent level of after-tax total return for its investors with an emphasis on tax-advantaged dividend income under current tax law. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

    NYSE American – GLU PrB
    CUSIP – 36242L303

    For information:
    Adam Tokar
    (914) 457-1079

    Investor Relations Contact:
    Adam Tokar
    (914) 457-1079
    atokar@gabelli.com

    The MIL Network –

  • MIL-OSI: Plantro Ltd. Announces Extension of Tender Offer to Acquire up to 15% of Class A Limited Voting Shares of Information Services Corporation

    Source: GlobeNewswire (MIL-OSI)

    BRIDGETOWN, Barbados, April 28, 2025 (GLOBE NEWSWIRE) — Plantro Ltd. (“Plantro”) today announced that it is extending its ongoing all-cash tender offer (the “Tender Offer”) to acquire up to 2,777,242 class A limited voting shares (the “Class A Shares”) in the capital of Information Services Corporation (TSX: ISC) (“ISC” or the “Company”).

    Pursuant to the extension, the terms of which are set out in a notice of variation and extension dated April 28, 2025 (the “Notice of Variation and Extension”), Plantro has extended the expiry date of the Tender Offer to 5:00pm (Eastern Time) on May 5, 2025, unless further varied, extended, or withdrawn in accordance with the terms of the Tender Offer (the “Expiry Time”).

    Shareholders of ISC who have already validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer. No Class A Shares will be taken up and paid for by Plantro pursuant to the Tender Offer until after the Expiry Time.

    All other terms of the Tender Offer remain unchanged. Details of the Tender Offer, including instructions for tendering Class A Shares, are included in the amended and restated offer dated April 14, 2025 (the “Offer Document”), as amended by the Notice of Variation and Extension (the Notice of Variation and Extension together with the Offer Document and the amended and restated letter of transmittal dated April 14, 2025, the “Offer Documents”). The Notice of Variation and Extension will be filed and made available on ISC’s SEDAR+ profile at www.sedarplus.ca. Shareholders of ISC should carefully read the Offer Documents prior to making a decision with respect to the Tender Offer.

    About Plantro
    Plantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses.

    Shareholder Questions
    Shareholders of ISC who have questions with respect to the Tender Offer, or who need assistance in depositing their Class A Shares, please contact the depositary or the information agent for the Tender Offer at the contact details below:

    Depositary: Odyssey Trust Company
    Toll Free (US & Canada): 1-888-290-1175
    Calls (All Regions): 587-885-0960
    Email: corp.actions@odysseytrust.com

    Information Agent: Carson Proxy
    North America Toll Free: 1-800-530-5189
    Local and Text: 416-751-2066
    Email: info@carsonproxy.com

    Information in Support of Public Broadcast Exemption Under Canadian Law
    Plantro is relying on the exemption under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations to make this public broadcast solicitation. The following information is provided in accordance with corporate and securities laws applicable to public broadcast solicitations.

    This solicitation is being made by Plantro, and not by or on behalf of management of ISC. The information agent will receive a fee of up to $250,000 for its services as information agent under the Tender Offer, plus ancillary payments and disbursements. Based upon publicly available information, ISC’s registered and head office is located at 300 – 10 Research Drive, Regina, Saskatchewan, S4S 7J7, Canada. Plantro is soliciting proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian corporate and securities laws, conveyed by way of public broadcast, including press release, speech or publication, and by any other manner permitted under applicable Canadian securities laws. In addition, this solicitation may be made by mail, telephone, facsimile, email or other electronic means as well as by newspaper or other media advertising and in person by representatives of Plantro. All costs incurred for such solicitation will be borne by Plantro.

    Subject to the terms of the Offer Documents, a registered shareholder who has given a proxy under the terms of the amended and restated letter of transmittal may, prior to its Class A Shares being taken up and paid for under the Tender Offer, revoke the proxy by instrument in writing, including a proxy bearing a later date. The instrument revoking the proxy must be deposited at the registered office of ISC at least 48 hours, exclusive of Saturdays, Sundays, and holidays, preceding the date of the meeting or an adjournment or postponement thereof, or with the Chair of the meeting on the day of the meeting, or in any other manner permitted by law, provided that, in each circumstance, a copy of such revocation has been delivered to the depositary, at its principal office in Toronto, Ontario, Canada prior to the Class A Shares relating to such proxy having been taken up and paid for under the Tender Offer.

    Subject to the terms of the Offer Documents, a non-registered shareholder may revoke a form of proxy or voting instruction form given to an intermediary at any time by written notice to the intermediary in accordance with the instructions given to the non-registered shareholder by its intermediary. Non-registered shareholders should contact their broker for assistance in ensuring that forms of proxies or voting instructions previously given to an intermediary are properly revoked.

    None of Plantro nor, to its knowledge, any of its associates or affiliates, has any material interest, direct or indirect, in any transaction since the commencement of ISC’s most recently completed financial year, or in any proposed transaction which has materially affected or will materially affect ISC or any of its subsidiaries. None of Plantro nor, to its knowledge, any of its associates or affiliates, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at any upcoming shareholders’ meeting, other than as set out herein and in the Offer Documents.

    Cautionary Statement Regarding Forward-Looking Information
    This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, taking up and paying for Class A Shares deposited under the Tender Offer, and the expiry of the Tender Offer, contain “forward-looking information” and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements.

    Statements containing forward-looking information are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future outcomes expressed or implied by the statements containing forward-looking information.

    Although Plantro believes that the expectations reflected in statements containing forward-looking information herein made by it (and not, for greater certainty, any forward-looking statements attributable to the Company) are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting the Company’s operations will continue substantially in the current state, including, without limitation, with respect to industry conditions, general levels of economic activity, continuity and availability of personnel, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, that there will be no unplanned material changes to the Company’s operations, and that the Company’s public disclosure record is accurate in all material respects and is not misleading (including by omission).

    Plantro cautions that the foregoing list of material factors and assumptions is not exhaustive. While these factors and assumptions are considered by Plantro to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Plantro and there is no assurance that they will prove correct.

    Important facts that could cause outcomes to differ materially from those expressed or implied by such forward-looking information include, among other things, actions taken by the Company in respect of the Tender Offer, the content of subsequent public disclosures by the Company, the failure to satisfy the conditions to the Tender Offer, general economic conditions, legislative or regulatory changes and changes in capital or securities markets. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although Plantro has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to Plantro or that Plantro presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

    Statements containing forward-looking information in this press release are based on Plantro’s beliefs and opinions at the time the statements are made, and there should be no expectation that such forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Plantro disclaims any obligation to do so, except as required by applicable law. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

    The MIL Network –

  • MIL-OSI: Financial Institutions, Inc. Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., April 28, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company,” “we” or “us”), parent company of Five Star Bank (the “Bank”) and Courier Capital, LLC (“Courier Capital”), today reported financial and operational results for the first quarter ended March 31, 2025.

    The Company reported net income of $16.9 million in the first quarter of 2025, compared to a net loss of $82.8 million in the fourth quarter of 2024 and net income of $2.1 million in the first quarter of 2024. After preferred dividends, net income available to common shareholders was $16.5 million, or $0.81 per diluted share, in the first quarter of 2025, compared to net loss of $83.2 million, or $(5.07) per diluted share, in the fourth quarter of 2024, and net income of $1.7 million, or $0.11 per diluted share, in the first quarter of 2024. The Company recorded a provision for credit losses of $2.9 million in the current quarter, compared to a provision of $6.5 million in the linked quarter and a benefit of $5.5 million in the prior year quarter.

    First Quarter 2025 Key Results:

    • Net interest margin and net interest income expanded meaningfully in the first quarter of 2025, primarily reflecting the impact of the investment portfolio restructuring that was executed at the end of 2024. Net interest margin of 3.35% for first quarter of 2025 was up 44 and 57 basis points from the linked and year-ago quarters, respectively, while net interest income of $46.9 million for first quarter of 2025 increased $5.2 million, or 12.6%, and $6.8 million, or 16.9%, from the linked and year-ago quarters, respectively.
    • Noninterest income was $10.4 million in the first quarter of 2025, compared to noninterest loss of $91.0 million in the linked quarter, which reflected the previously disclosed investment securities loss, and noninterest income of $10.9 million in the year-ago quarter, when the Company’s results included income from its former insurance subsidiary. First quarter 2025 noninterest income benefited from higher income from company owned life insurance (“COLI”) as a result of a surrender and redeploy strategy initiated in January 2025, in addition to higher swap fees and investment advisory income relative to comparable prior periods.
    • Noninterest expense in the first quarter of 2025 totaled $33.7 million, compared to noninterest expense including non-operating items in the linked and year-ago quarters of $59.4 million and $54.0 million, respectively.
    • Total loans were $4.55 billion at March 31, 2025, reflecting an increase of $74.1 million, or 1.7%, during the quarter, and an increase of $111.2 million, or 2.5%, from one year prior, driven by both commercial business and commercial mortgage lending.
    • Total deposits were $5.37 billion at March 31, 2025, up $268.2 million, or 5.3%, from December 31, 2024, driven by seasonal public deposit inflows as well as an increase in brokered deposits, and down $23.8 million, or 0.4%, from one year prior, due in part to lower reciprocal deposits and the previously announced wind-down of the Company’s Banking-as-a-Service, or BaaS, offering.
    • The Company reported improved credit quality metrics, as measured by quarterly net charge-offs to average loans of 0.21% for the first quarter of 2025, down from both the linked and year-ago quarters.
    • In February, the Company’s Board of Directors approved a 3.3% increase in its quarterly cash dividend to $0.31 per common share, a reflection of both its ongoing commitment to building shareholder value and its confidence in the Company’s long-term sustainable growth strategy.

    “Our first quarter results were highlighted by improved earnings and profitability metrics, and reflected the full benefit of the strategic investment securities restructuring we undertook in December, as well as our team’s ability to meet the banking, credit and investment advisory needs of our customers amid a challenging environment,” said President and Chief Executive Officer Martin K. Birmingham. “Our focus on performance resulted in a more than 12% increase in net interest income from the linked quarter, as well as a 44-basis-point expansion of net interest margin, an efficiency ratio below 60% and solid return on average assets of 1.10% and return on average equity of 11.82%.

    “Our pipelines carried momentum with credit-disciplined lending heading into 2025 and supported a 1.7% quarterly increase in total loans, with stable-to-improved credit metrics for the first quarter. Amid the uncertain economic landscape, coupled with our current pipelines and discussions with customers, we believe that loan growth will be concentrated in the first half of the year.”

    Chief Financial Officer and Treasurer W. Jack Plants II added, “Our successful fourth quarter public equity offering not only allowed us to restructure our investment securities portfolio to drive stronger earnings potential, evident in our first quarter results, but also provided additional dry powder that we have sought to thoughtfully deploy. To that end, earlier this month we called $10 million of fixed-to-floating sub-debt that was issued in April 2015. We also took steps to enhance noninterest revenue by restructuring a portion of our COLI portfolio into a higher-yielding credit fund, which contributed to higher COLI income in the first quarter. We continue to remain confident that our stronger capital position and improved earnings outlook position us well to drive sustainable and profitable growth, as we seek to support our customers amid a challenging operating environment and prudently manage expenses.”

    Net Interest Income and Net Interest Margin

    Net interest income was $46.9 million for the first quarter of 2025, an increase of $5.2 million from the fourth quarter of 2024, and an increase of $6.8 million from the first quarter of 2024.

    Average interest-earning assets for the current quarter were $5.65 billion, reflecting decreases of $64.5 million from the fourth quarter of 2024 and $153.6 million from the first quarter of 2024. The linked quarter decrease was due to a $74.2 million decrease in the average balance of investment securities and a $49.8 million decrease in the average balance of Federal Reserve interest-earning cash, partially offset by a $59.5 million increase in average loans. The year-over-year decrease in average interest-earning assets was due to a $97.3 million decrease in the average balance of investment securities and an $86.3 million decrease in the average balance of Federal Reserve interest-earning cash, partially offset by a $30.0 million increase in average loans.

    Average interest-bearing liabilities for the current quarter were $4.51 billion, reflecting an increase of $31.1 million from the linked quarter and a decrease of $108.0 million from the year-ago quarter. The increase from the fourth quarter of 2024 was primarily due to a $38.7 million increase in average short-term borrowings and a $19.9 million increase in average time deposits, partially offset by a $15.6 million decrease in average savings and money market deposits and a $12.0 million decrease in average interest-bearing demand deposits. The year-over-year decrease was due to a $105.3 million decrease in average savings and money market deposits, along with an $84.2 million decrease in average borrowings and a $4.3 million decrease in average interest-bearing demand deposits, partially offset by a $85.9 million increase in average time deposits. The outflow of BaaS-related deposits following the Company’s September 2024 announcement that it would wind-down its BaaS platform by mid-2025 was the primary driver of the reduction in average savings and money market deposits from the linked and year-ago periods.

    Net interest margin was 3.35% in the current quarter as compared to 2.91% in the fourth quarter of 2024, and 2.78% in the first quarter of 2024. Expansion from both the linked and prior year quarters was primarily due to an increase in the average yield on investment securities, following the previously disclosed restructuring of the available-for-sale portfolio, which supported an increase in the average yield on interest-earning assets. Margin expansion was also supported by lower cost of interest-bearing liabilities, driven by the repricing across public, non-public and reciprocal deposits.

    Noninterest Income (Loss)

    The Company reported noninterest income of $10.4 million for the first quarter of 2025, compared to noninterest loss of $91.0 million in the fourth quarter of 2024, and noninterest income of $10.9 million in the first quarter of 2024.

    • A net loss on investment securities of $100.1 million was recognized in the fourth quarter of 2024 related to the previously disclosed securities portfolio restructuring.
    • Noninterest income no longer includes contributions from the Company’s insurance agency, which generated first quarter 2024 insurance income of $2.1 million prior to its sale on April 1, 2024.
    • Investment advisory income of $2.7 million was $182 thousand higher than the fourth quarter of 2024 and up $155 thousand from the first quarter of 2024.
    • Income from COLI of $2.8 million was $1.4 million higher than the fourth quarter of 2024 and $1.5 million higher than the first quarter of 2024, due to the previously mentioned surrender and redeploy strategy initiated in January 2025.
    • Income from investments in limited partnerships of $415 thousand was $422 thousand lower than the fourth quarter of 2024 and $73 thousand higher than the first quarter of 2024. The Company has made several investments in limited partnerships, primarily small business investment companies, and accounts for these investments under the equity method. Income from these investments fluctuates based on the maturity and performance of the underlying investments.
    • Income from derivative instruments, net was $250 thousand in the current quarter, compared to a loss of $37 thousand in the fourth quarter of 2024, and income of $174 thousand in the first quarter of 2024. Income from derivative instruments, net is based on the number and value of interest rate swap transactions executed during the quarter combined with the impact of changes in the fair value of borrower-facing trades.

    Noninterest Expense

    Noninterest expense was $33.7 million in the first quarter of 2025, compared to $59.4 million in the fourth quarter of 2024, and $54.0 million in the first quarter of 2024.

    • Salaries and employee benefits expense of $16.9 million was $261 thousand lower than the fourth quarter of 2024 and $442 thousand lower than the first quarter of 2024. The decrease from the linked quarter was primarily due to a $1.3 million nonrecurring settlement accounting adjustment in the Company’s pension plan recorded in the fourth quarter of 2024, while the year-over-year decrease was primarily due to the timing of the insurance subsidiary asset sale.
    • Professional services expenses of $1.7 million were $120 thousand higher than the fourth quarter of 2024 and $681 thousand lower than the first quarter of 2024, with the year-over-year variance primarily attributable to legal expenses incurred in the first quarter of 2024 related to the Company’s previously disclosed deposit-related fraud event.
    • Computer and data processing expense of $5.5 million was $1.1 million lower than the fourth quarter of 2024 and $101 thousand higher than the first quarter of 2024. The linked quarter variance was primarily due to nonrecurring project related expenses incurred in the fourth quarter of 2024.
    • As previously disclosed, the Company recorded a $23.0 million provision for litigation settlement in its fourth quarter 2024 financial results related to a long-standing auto lending litigation.
    • The Company recorded deposit-related recoveries of $294 thousand, primarily driven by insurance proceeds related to a past commercial deposit charged-off item, compared to charged-off items of $354 thousand in the fourth quarter of 2024 and $19.2 million in the first quarter of 2024, the majority of which related to the Company’s previously disclosed deposit-related fraud event.
    • Other expense of $3.8 million was down $484 thousand from the linked quarter, due in part to the timing of both New York State capital base tax and charitable contributions impacting the fourth quarter of 2024, while year-over-year other expense was relatively flat.

    Income Taxes

    Income tax expense was $3.7 million for the first quarter of 2025, compared to a benefit of $32.5 million in the fourth quarter of 2024, reflective of the net loss reported in that period, and expense of $356 thousand in the first quarter of 2024. The Company also recognized federal and state tax benefits related to tax credit investments placed in service and/or amortized during the first quarter of 2025, fourth quarter of 2024, and first quarter of 2024, resulting in income tax expense reductions of $1.1 million, $1.2 million, and $785 thousand, respectively.

    The effective tax rate was 18.2% for the first quarter of 2025, -28.2% for the fourth quarter of 2024, and 18.7% for the first quarter of 2024. The effective tax rate fluctuates on a quarterly basis primarily due to the level of pre-tax (loss) earnings and may differ from statutory rates because of interest income from tax-exempt securities, earnings on COLI and the impact of tax credit investments.

    Balance Sheet and Capital Management

    Total assets were $6.34 billion at March 31, 2025, up $223.4 million from December 31, 2024, and up $41.9 million from March 31, 2024.

    Investment securities were $1.04 billion at March 31, 2025, up $13.0 million from December 31, 2024, and down $27.4 million from March 31, 2024.

    Total loans were $4.55 billion at March 31, 2025, an increase of $74.1 million, or 1.7%, from December 31, 2024, and an increase of $111.2 million, or 2.5%, from March 31, 2024.

    • Commercial business loans totaled $709.1 million, up $43.8 million, or 6.6%, from December 31, 2024, and up $1.5 million, or 0.2%, from March 31, 2024.
    • Commercial mortgage loans totaled $2.23 billion, up $28.7 million, or 1.3%, from December 31, 2024, and up $183.2 million, or 9.0%, from March 31, 2024.
    • Residential real estate loans totaled $644.0 million, down $6.2 million, or 1.0%, from December 31, 2024, and down $4.2 million, or 0.6%, from March 31, 2024.
    • Consumer indirect loans totaled $853.2 million, up $7.4 million, or 0.9%, from December 31, 2024, and down $67.3 million, or 7.3%, from March 31, 2024.

    Total deposits were $5.37 billion at March 31, 2025, up $268.2 million, or 5.3%, from December 31, 2024, and down $23.8 million, or 0.4%, from March 31, 2024. The increase from December 31, 2024 was primarily due to seasonally higher public deposit balances in addition to an increase in brokered deposits between period ends. The decrease from March 31, 2024 was driven in part by reductions in BaaS-related and reciprocal deposits. Public deposit balances represented 23% of total deposits at March 31, 2025, 20% at December 31, 2024, and 22% at March 31, 2024.

    Short-term borrowings were $55.0 million at March 31, 2025, compared to $99.0 million at December 31, 2024, and $133.0 million at March 31, 2024. Short-term borrowings and brokered deposits have historically been utilized to manage the seasonality of public deposits.

    Shareholders’ equity was $589.9 million at March 31, 2025, compared to $569.0 million at December 31, 2024, and $445.7 million at March 31, 2024. Both the linked quarter and year-over-year period end increases were primarily driven by additional paid-in-capital resulting from the common stock capital raise executed in the fourth quarter of 2024 and decreases in accumulated other comprehensive loss between period ends following the investment securities restructuring.

    Common book value per share was $28.48 at March 31, 2025, an increase of $1.00, or 3.6%, from $27.48 at December 31, 2024, and an increase of $0.74, or 2.7%, from $27.74 at March 31, 2024. Tangible common book value per share(1) was $25.46 at March 31, 2025, an increase of $1.01, or 4.1%, from $24.45 at December 31, 2024, and an increase of $2.40, or 10.4%, from $23.06 at March 31, 2024. The common equity to assets ratio was 9.03% at March 31, 2025, compared to 9.02% at December 31, 2024, and 6.80% at March 31, 2024. Tangible common equity to tangible assets(1), or the TCE ratio, was 8.15%, 8.11% and 5.72% at March 31, 2025, December 31, 2024, and March 31, 2024, respectively. The year-over-year increases in both ratios were attributable to the additional capital raised in the fourth quarter and the decrease in accumulated other comprehensive loss.

    During the first quarter of 2025, the Company declared a common stock dividend of $0.31 per common share, an increase of $0.01, or 3.3%, over the linked and year-ago quarters. The dividend returned more than 37% of first quarter net income to common shareholders.

    The Company’s regulatory capital ratios at March 31, 2025 continued to exceed all regulatory capital requirements to be considered well capitalized.

    • Leverage Ratio was 9.24% compared to 9.15% and 8.03% at December 31, 2024, and March 31, 2024, respectively.
    • Common Equity Tier 1 Capital Ratio was 10.38% compared to 10.54% and 9.43% at December 31, 2024, and March 31, 2024, respectively.
    • Tier 1 Capital Ratio was 10.71% compared to 10.87% and 9.76% at December 31, 2024, and March 31, 2024, respectively.
    • Total Risk-Based Capital Ratio was 13.09% compared to 13.25% and 12.04% at December 31, 2024, and March 31, 2024, respectively.

    In April 2025, the Company called $10.0 million of its $40.0 million of fixed-to-floating rate subordinated debt that was originally issued in April 2015. These notes initially bore interest at a fixed rate of 6.00% and were scheduled to reprice at a rate equal to the then-current three-month term SOFR plus 4.20561% after the April 2025 call date. The Company’s subordinated debt is now comprised of $30.0 million of April 2015 notes, as well as the separate $35.0 million of fixed-to-floating rate subordinated notes that were issued in October 2020, which currently bear interest at a fixed rate of 4.375%, and are set to reprice at a rate of the then-current three-month term SOFR plus 4.265% beginning in October 2025. The April 2015 notes are callable on a quarterly basis going forward and the October 2020 notes become callable beginning in October 2025. The Company will continue to evaluate options relative to the subordinated debt which may include redemption in part or in full, as well as replacing or refinancing the facilities.

    Credit Quality

    Non-performing loans were $40.0 million, or 0.88% of total loans, at March 31, 2025, as compared to $41.4 million, or 0.92% of total loans, at December 31, 2024, and $26.7 million, or 0.60% of total loans, at March 31, 2024. The increase in non-performing loans from March 31, 2024 was primarily driven by one commercial loan relationship that was placed on nonaccrual during the third quarter of 2024. Net charge-offs were $2.4 million, representing 0.21% of average loans on an annualized basis, for the current quarter, as compared to $2.8 million, or an annualized 0.25% of average loans, in the fourth quarter of 2024 and $3.1 million, or an annualized 0.28%, in the first quarter of 2024.

    At March 31, 2025, the allowance for credit losses on loans to total loans ratio was 1.08%, compared to 1.07% at December 31, 2024 and 0.97% at March 31, 2024.

    Provision for credit losses was $2.9 million in the current quarter, compared to a provision of $6.5 million in the linked quarter and a benefit of $5.5 million in the prior year quarter. Provision for credit losses on loans was $3.3 million in the current quarter, compared to a provision of $6.1 million in the fourth quarter of 2024, and a benefit of $4.9 million in the first quarter of 2024. The allowance for unfunded commitments, also included in provision for credit losses as required by the current expected credit loss standard (“CECL”), totaled a provision of $364 thousand in the first quarter of 2025, a provision of $321 thousand in the fourth quarter of 2024, and a credit of $570 thousand in the first quarter of 2024. The provision for credit losses for the first quarter of 2025 was driven by a combination of factors, including the impact of loan growth and an increase in specific reserves, partially offset by modest improvement in forecasted losses and qualitative factors, primarily reflecting a reduction in consumer indirect delinquencies. Specific reserves increased by $932,000 for the first quarter, primarily driven by a $1.3 million specific reserve related to the Bank’s participation in a non-owner occupied commercial mortgage loan, which it moved to nonaccrual in the fourth quarter of 2023.

    The Company has remained strategically focused on the importance of credit discipline, allocating resources to credit and risk management functions as the loan portfolio has grown. The ratio of allowance for credit losses on loans to non-performing loans was 122% at March 31, 2025, 116% at December 31, 2024, and 161% at March 31, 2024, with the year-over-year decrease reflective of the higher level of nonperforming loans reported at March 31, 2025.

    Subsequent Events

    The Company is required, under generally accepted accounting principles (“GAAP”), to evaluate subsequent events through the filing of its consolidated financial statements for the quarter ended March 31, 2025, on Form 10-Q. As a result, the Company will continue to evaluate the impact of any subsequent events on critical accounting assumptions and estimates made as of March 31, 2025, and will adjust amounts preliminarily reported, if necessary.

    Conference Call

    The Company will host an earnings conference call and audio webcast on April 29, 2025 at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer. The live webcast will be available in listen-only mode on the Company’s website at www.FISI-investors.com. Within the United States, listeners may also access the call by dialing 1-833-470-1428 and providing the access code 737945. The webcast replay will be available on the Company’s website for at least 30 days.

    About Financial Institutions, Inc.

    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.3 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    Non-GAAP Financial Information

    In addition to results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to GAAP measures is included in Appendix A to this document.

    The Company believes that providing certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, performance trends and financial position. Our management uses these measures for internal planning and forecasting purposes and we believe that our presentation and discussion, together with the accompanying reconciliations, allows investors, security analysts and other interested parties to view our performance and the factors and trends affecting our business in a manner similar to management. These non-GAAP measures should not be considered a substitute for GAAP measures, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure to evaluate the Company. Non-GAAP financial measures have inherent limitations, are not uniformly applied and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

    Safe Harbor Statement

    This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “focus,” “forecast,” “intend,” “may,” “plan,” “preliminary,” “should,” “target” or “will.” Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: additional information regarding the deposit fraudulent activity; changes in interest rates; inflation; tariffs; changes in deposit flows and the cost and availability of funds; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; whether the Company experiences greater credit losses than expected; whether the Company experiences breaches of its, or third party, information systems; the attitudes and preferences of the Company’s customers; legal and regulatory proceedings and related matters, including any action described in our reports filed with the SEC, could adversely affect us and the banking industry in general; the competitive environment; fluctuations in the fair value of securities in its investment portfolio; changes in the regulatory environment and the Company’s compliance with regulatory requirements; and general economic and credit market conditions nationally and regionally; and the macroeconomic volatility related to global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

    (1) See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.

    For additional information contact:
    Kate Croft
    Director of Investor and External Relations
    (716) 817-5159
    klcroft@five-starbank.com


    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands, except per share amounts)

        2025     2024  
    SELECTED BALANCE SHEET DATA:   March 31,     December 31,     September 30,     June 30,     March 31,  
    Cash and cash equivalents   $ 167,352     $ 87,321     $ 249,569     $ 146,347     $ 237,038  
    Investment securities:                              
    Available for sale     926,992       911,105       886,816       871,635       923,761  
    Held-to-maturity, net     113,105       116,001       121,279       128,271       143,714  
    Total investment securities     1,040,097       1,027,106       1,008,095       999,906       1,067,475  
    Loans held for sale     387       2,280       2,495       2,099       504  
    Loans:                              
    Commercial business     709,101       665,321       654,519       713,947       707,564  
    Commercial mortgage–construction     566,359       582,619       533,506       518,013       528,694  
    Commercial mortgage–multifamily     475,867       470,954       467,527       463,171       453,027  
    Commercial mortgage–non-owner occupied     899,679       857,987       814,392       814,953       798,637  
    Commercial mortgage–owner occupied     286,391       288,036       290,216       289,733       264,698  
    Residential real estate loans     643,983       650,206       648,241       647,675       648,160  
    Residential real estate lines     74,769       75,552       76,203       75,510       75,668  
    Consumer indirect     853,176       845,772       874,651       894,596       920,428  
    Other consumer     43,953       42,757       43,734       43,870       45,170  
    Total loans     4,553,278       4,479,204       4,402,989       4,461,468       4,442,046  
    Allowance for credit losses – loans     48,964       48,041       44,678       43,952       43,075  
    Total loans, net     4,504,314       4,431,163       4,358,311       4,417,516       4,398,971  
    Total interest-earning assets     5,733,743       5,602,570       5,666,972       5,709,148       5,857,616  
    Goodwill and other intangible assets, net     60,651       60,758       60,867       60,979       72,287  
    Total assets     6,340,492       6,117,085       6,156,317       6,131,772       6,298,598  
    Deposits:                              
    Noninterest-bearing demand     945,182       950,351       978,660       939,346       972,801  
    Interest-bearing demand     773,475       705,195       793,996       711,580       798,831  
    Savings and money market     2,033,323       1,904,013       2,027,181       2,007,256       2,064,539  
    Time deposits     1,620,930       1,545,172       1,506,764       1,475,139       1,560,586  
    Total deposits     5,372,910       5,104,731       5,306,601       5,133,321       5,396,757  
    Short-term borrowings     55,000       99,000       55,000       202,000       133,000  
    Long-term borrowings, net     124,917       124,842       124,765       124,687       124,610  
    Total interest-bearing liabilities     4,607,645       4,405,912       4,507,706       4,520,662       4,681,566  
    Shareholders’ equity     589,928       568,984       500,342       467,667       445,734  
    Common shareholders’ equity     572,643       551,699       483,050       450,375       428,442  
    Tangible common equity (1)     511,992       490,941       422,183       389,396       356,155  
    Accumulated other comprehensive loss   $ (41,995 )   $ (52,604 )   $ (102,029 )   $ (125,774 )   $ (126,264 )
                                   
    Common shares outstanding     20,110       20,077       15,474       15,472       15,447  
    Treasury shares     590       623       625       627       653  
    CAPITAL RATIOS AND PER SHARE DATA:                              
    Leverage ratio     9.24 %     9.15 %     8.98 %     8.61 %     8.03 %
    Common equity Tier 1 capital ratio     10.38 %     10.54 %     10.28 %     10.03 %     9.43 %
    Tier 1 capital ratio     10.71 %     10.87 %     10.62 %     10.36 %     9.76 %
    Total risk-based capital ratio     13.09 %     13.25 %     12.95 %     12.65 %     12.04 %
    Common equity to assets     9.03 %     9.02 %     7.85 %     7.34 %     6.80 %
    Tangible common equity to tangible assets (1)     8.15 %     8.11 %     6.93 %     6.41 %     5.72 %
                                   
    Common book value per share   $ 28.48     $ 27.48     $ 31.22     $ 29.11     $ 27.74  
    Tangible common book value per share (1)   $ 25.46     $ 24.45     $ 27.28     $ 25.17     $ 23.06  

    1. See Appendix A — Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.


    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands, except per share amounts)

        2025     2024  
        First     Fourth     Third     Second     First  
    SELECTED STATEMENT OF OPERATIONS DATA:   Quarter     Quarter     Quarter     Quarter     Quarter  
    Interest income   $ 81,051     $ 78,119     $ 77,911     $ 78,788     $ 78,413  
    Interest expense     34,187       36,486       37,230       37,595       38,331  
    Net interest income     46,864       41,633       40,681       41,193       40,082  
    Provision (benefit) for credit losses     2,928       6,461       3,104       2,041       (5,456 )
    Net interest income after provision (benefit) for credit losses     43,936       35,172       37,577       39,152       45,538  
    Noninterest income:                              
    Service charges on deposits     1,052       1,074       1,103       979       1,077  
    Insurance income     3       3       3       4       2,134  
    Card interchange income     1,840       2,045       1,900       2,008       1,902  
    Investment advisory     2,737       2,555       2,797       2,779       2,582  
    Company owned life insurance     2,777       1,425       1,404       1,360       1,298  
    Investments in limited partnerships     415       837       400       803       342  
    Loan servicing     123       295       88       158       175  
    Income (loss) from derivative instruments, net     250       (37 )     212       377       174  
    Net gain on sale of loans held for sale     117       186       220       124       88  
    Net loss on investment securities     –       (100,055 )     –       –       –  
    Net (loss) gain on other assets     –       (19 )     138       13,508       (13 )
    Net (loss) gain on tax credit investments     (514 )     (636 )     (170 )     406       (375 )
    Other     1,573       1,291       1,345       1,508       1,517  
    Total noninterest income (loss)     10,373       (91,036 )     9,440       24,014       10,901  
    Noninterest expense:                              
    Salaries and employee benefits     16,898       17,159       15,879       15,748       17,340  
    Occupancy and equipment     3,590       3,791       3,370       3,448       3,752  
    Professional services     1,691       1,571       1,965       1,794       2,372  
    Computer and data processing     5,487       6,608       5,353       5,342       5,386  
    Supplies and postage     578       504       519       437       475  
    FDIC assessments     1,467       1,551       1,092       1,346       1,295  
    Advertising and promotions     342       465       371       440       297  
    Amortization of intangibles     107       109       112       114       217  
    Provision for litigation settlement     –       23,022       –       –       –  
    Deposit-related charged-off items (recoveries) expense     (294 )     354       410       398       19,179  
    Restructuring charges     68       35       –       –       –  
    Other     3,751       4,235       3,398       3,953       3,700  
    Total noninterest expense     33,685       59,404       32,469       33,020       54,013  
    Income (loss) before income taxes     20,624       (115,268 )     14,548       30,146       2,426  
    Income tax expense (benefit)     3,746       (32,457 )     1,082       4,517       356  
    Net income (loss)     16,878       (82,811 )     13,466       25,629       2,070  
    Preferred stock dividends     365       365       365       364       365  
    Net income (loss) available to common shareholders   $ 16,513     $ (83,176 )   $ 13,101     $ 25,265     $ 1,705  
    FINANCIAL RATIOS:                              
    Earnings (loss) per share – basic   $ 0.82     $ (5.07 )   $ 0.85     $ 1.64     $ 0.11  
    Earnings (loss) per share – diluted   $ 0.81     $ (5.07 )   $ 0.84     $ 1.62     $ 0.11  
    Cash dividends declared on common stock   $ 0.31     $ 0.30     $ 0.30     $ 0.30     $ 0.30  
    Common dividend payout ratio     37.80 %     -5.92 %     35.29 %     18.29 %     272.73 %
    Dividend yield (annualized)     5.05 %     4.37 %     4.69 %     6.25 %     6.41 %
    Return on average assets (annualized)     1.10 %     -5.38 %     0.89 %     1.68 %     0.13 %
    Return on average equity (annualized)     11.82 %     -63.70 %     11.08 %     22.93 %     1.83 %
    Return on average common equity (annualized)     11.92 %     -66.19 %     11.18 %     23.51 %     1.57 %
    Return on average tangible common equity (annualized) (1)     13.36 %     -75.36 %     12.87 %     27.51 %     1.88 %
    Efficiency ratio (2)     58.79 %     117.13 %     64.70 %     50.58 %     105.77 %
    Effective tax rate     18.2 %     -28.2 %     7.4 %     15.0 %     18.7 %

    1. See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.
    2. The efficiency ratio is calculated by dividing noninterest expense by net revenue, i.e., the sum of net interest income (fully taxable equivalent) and noninterest income before net gains on investment securities. This is a banking industry measure not required by GAAP.


    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands)

        2025     2024  
        First     Fourth     Third     Second     First  
    SELECTED AVERAGE BALANCES:   Quarter     Quarter     Quarter     Quarter     Quarter  
    Federal funds sold and interest-earning deposits   $ 71,767     $ 121,530     $ 49,476     $ 134,123     $ 158,075  
    Investment securities(1)     1,085,649       1,159,863       1,147,052       1,194,808       1,182,993  
    Loans:                              
    Commercial business     677,700       658,038       673,830       704,272       722,720  
    Commercial mortgage–construction     562,724       558,200       513,768       495,177       470,115  
    Commercial mortgage–multifamily     475,262       458,691       467,801       466,501       468,028  
    Commercial mortgage–non-owner occupied     879,387       843,034       826,275       837,209       843,526  
    Commercial mortgage–owner occupied     286,526       288,502       285,061       260,495       248,172  
    Residential real estate loans     647,005       649,549       647,844       648,099       648,921  
    Residential real estate lines     74,709       76,164       75,671       75,575       76,396  
    Consumer indirect     848,282       858,854       881,133       905,056       934,380  
    Other consumer     42,230       43,333       43,789       44,552       51,535  
    Total loans     4,493,825       4,434,365       4,415,172       4,436,936       4,463,793  
    Total interest-earning assets     5,651,241       5,715,758       5,611,700       5,765,867       5,804,861  
    Goodwill and other intangible assets, net     60,717       60,824       60,936       62,893       72,409  
    Total assets     6,220,187       6,121,449       6,018,390       6,153,429       6,225,760  
    Interest-bearing liabilities:                              
    Interest-bearing demand     745,210       757,221       691,412       741,006       749,512  
    Savings and money market     1,976,483       1,992,059       1,938,935       2,036,772       2,081,815  
    Time deposits     1,564,987       1,545,071       1,515,745       1,505,665       1,479,133  
    Short-term borrowings     95,223       56,513       129,130       140,110       179,747  
    Long-term borrowings, net     124,871       124,795       124,717       124,640       124,562  
    Total interest-bearing liabilities     4,506,774       4,475,659       4,399,939       4,548,193       4,614,769  
    Noninterest-bearing demand deposits     926,696       947,428       952,970       950,819       962,522  
    Total deposits     5,213,376       5,241,779       5,099,062       5,234,262       5,272,982  
    Total liabilities     5,640,981       5,604,249       5,535,112       5,703,929       5,770,725  
    Shareholders’ equity     579,206       517,200       483,278       449,500       455,035  
    Common equity     561,921       499,910       465,986       432,208       437,743  
    Tangible common equity(2)     501,204       439,086       405,050       369,315       365,334  
    Common shares outstanding:                              
    Basic     20,073       16,415       15,464       15,444       15,403  
    Diluted     20,285       16,415       15,636       15,556       15,543  
    SELECTED AVERAGE YIELDS:
    (Tax equivalent basis)    		                              
    Investment securities     4.25 %     2.38 %     2.14 %     2.17 %     2.09 %
    Loans     6.20 %     6.28 %     6.42 %     6.40 %     6.33 %
    Total interest-earning assets     5.80 %     5.45 %     5.53 %     5.50 %     5.43 %
    Interest-bearing demand     1.15 %     1.34 %     1.05 %     1.18 %     1.11 %
    Savings and money market     2.75 %     2.94 %     3.07 %     3.01 %     3.08 %
    Time deposits     4.31 %     4.53 %     4.72 %     4.72 %     4.68 %
    Short-term borrowings     2.09 %     0.15 %     2.64 %     2.75 %     3.42 %
    Long-term borrowings, net     5.00 %     5.03 %     5.03 %     5.02 %     5.02 %
    Total interest-bearing liabilities     3.07 %     3.24 %     3.37 %     3.32 %     3.34 %
    Net interest rate spread     2.73 %     2.21 %     2.16 %     2.18 %     2.09 %
    Net interest margin     3.35 %     2.91 %     2.89 %     2.87 %     2.78 %

    1. Includes investment securities at adjusted amortized cost.
    2. See Appendix A – Reconciliation to Non-GAAP Financial Measures for the computation of this non-GAAP financial measure.
    3. The interest on tax-exempt securities is calculated on a tax-equivalent basis assuming a Federal income tax rate of 21%.


    FINANCIAL INSTITUTIONS, INC.
    Selected Financial Information (Unaudited)
    (Amounts in thousands)

        2025     2024  
        First     Fourth     Third     Second     First  
    ASSET QUALITY DATA:   Quarter     Quarter     Quarter     Quarter     Quarter  
    Allowance for Credit Losses – Loans                              
    Beginning balance   $ 48,041     $ 44,678     $ 43,952     $ 43,075     $ 51,082  
    Net loan charge-offs (recoveries):                              
    Commercial business     57       131       (3 )     7       (37 )
    Commercial mortgage–construction     –       –       –       –       –  
    Commercial mortgage–multifamily     –       –       13       –       –  
    Commercial mortgage–non-owner occupied     (1 )     (5 )     (1 )     (1 )     (1 )
    Commercial mortgage–owner occupied     (1 )     (1 )     (2 )     (2 )     –  
    Residential real estate loans     41       (4 )     (1 )     96       4  
    Residential real estate lines     –       –       –       –       –  
    Consumer indirect     2,149       2,557       1,553       844       2,973  
    Other consumer     124       100       106       178       182  
    Total net charge-offs (recoveries)     2,369       2,778       1,665       1,122       3,121  
    Provision (benefit) for credit losses – loans     3,292       6,141       2,391       1,999       (4,886 )
    Ending balance   $ 48,964     $ 48,041     $ 44,678     $ 43,952     $ 43,075  
                                   
    Net charge-offs (recoveries) to average loans (annualized):                              
    Commercial business     0.03 %     0.80 %     0.00 %     0.00 %     -0.02 %
    Commercial mortgage–construction     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Commercial mortgage–multifamily     0.00 %     0.00 %     0.01 %     0.00 %     0.00 %
    Commercial mortgage–non-owner occupied     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Commercial mortgage–owner occupied     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Residential real estate loans     0.03 %     0.00 %     0.00 %     0.06 %     0.00 %
    Residential real estate lines     0.00 %     0.00 %     0.00 %     0.00 %     0.00 %
    Consumer indirect     1.03 %     1.18 %     0.70 %     0.38 %     1.28 %
    Other consumer     1.19 %     0.91 %     0.95 %     1.62 %     1.41 %
    Total loans     0.21 %     0.25 %     0.15 %     0.10 %     0.28 %
                                   
    Supplemental information(1)                              
    Non-performing loans:                              
    Commercial business   $ 5,672     $ 5,609     $ 5,752     $ 5,680     $ 5,956  
    Commercial mortgage–construction     19,684       20,280       20,280       4,970       5,320  
    Commercial mortgage–multifamily     –       –       71       183       185  
    Commercial mortgage–non-owner occupied     4,766       4,773       4,903       4,919       4,929  
    Commercial mortgage–owner occupied     349       354       366       380       392  
    Residential real estate loans     6,035       6,918       5,790       5,961       6,797  
    Residential real estate lines     316       253       232       183       235  
    Consumer indirect     2,917       3,157       3,291       2,897       2,880  
    Other consumer     279       62       57       36       36  
    Total non-performing loans     40,018       41,406       40,742       25,209       26,730  
    Foreclosed assets     196       60       109       63       140  
    Total non-performing assets   $ 40,214     $ 41,466     $ 40,851     $ 25,272     $ 26,870  
                                   
    Total non-performing loans to total loans     0.88 %     0.92 %     0.93 %     0.57 %     0.60 %
    Total non-performing assets to total assets     0.63 %     0.68 %     0.66 %     0.41 %     0.43 %
    Allowance for credit losses – loans to total loans     1.08 %     1.07 %     1.01 %     0.99 %     0.97 %
    Allowance for credit losses – loans to non-performing loans     122 %     116 %     110 %     174 %     161 %

    1. At period end.


    FINANCIAL INSTITUTIONS, INC.
    Appendix A — Reconciliation to Non-GAAP Financial Measures (Unaudited)
    (In thousands, except per share amounts)

        2025     2024  
        First     Fourth     Third     Second     First  
        Quarter     Quarter     Quarter     Quarter     Quarter  
    Ending tangible assets:                              
    Total assets   $ 6,340,492     $ 6,117,085     $ 6,156,317     $ 6,131,772     $ 6,298,598  
    Less: Goodwill and other intangible assets, net     60,651       60,758       60,867       60,979       72,287  
    Tangible assets   $ 6,279,841     $ 6,056,327     $ 6,095,450     $ 6,070,793     $ 6,226,311  
                                   
    Ending tangible common equity:                              
    Common shareholders’ equity   $ 572,643     $ 551,699     $ 483,050     $ 450,375     $ 428,442  
    Less: Goodwill and other intangible assets, net     60,651       60,758       60,867       60,979       72,287  
    Tangible common equity   $ 511,992     $ 490,941     $ 422,183     $ 389,396     $ 356,155  
                                   
    Tangible common equity to tangible assets (1)     8.15 %     8.11 %     6.93 %     6.41 %     5.72 %
                                   
    Common shares outstanding     20,110       20,077       15,474       15,472       15,447  
    Tangible common book value per share (2)   $ 25.46     $ 24.45     $ 27.28     $ 25.17     $ 23.06  
                                   
    Average tangible assets:                              
    Average assets   $ 6,220,187     $ 6,121,449     $ 6,018,390     $ 6,153,429     $ 6,225,760  
    Less: Average goodwill and other intangible assets, net     60,717       60,824       60,936       62,893       72,409  
    Average tangible assets   $ 6,159,470     $ 6,060,625     $ 5,957,454     $ 6,090,536     $ 6,153,351  
                                   
    Average tangible common equity:                              
    Average common equity   $ 561,921     $ 499,910     $ 465,986     $ 432,208     $ 437,743  
    Less: Average goodwill and other intangible assets, net     60,717       60,824       60,936       62,893       72,409  
    Average tangible common equity   $ 501,204     $ 439,086     $ 405,050     $ 369,315     $ 365,334  
                                   
    Net income (loss) available to common shareholders   $ 16,513     $ (83,176 )   $ 13,101     $ 25,265     $ 1,705  
    Return on average tangible common equity (3)     13.36 %     -75.36 %     12.87 %     27.51 %     1.88 %

    1. Tangible common equity divided by tangible assets.
    2. Tangible common equity divided by common shares outstanding.
    3. Net income available to common shareholders (annualized) divided by average tangible common equity.

    The MIL Network –

  • MIL-OSI Global: Juggling dynamite? At 100 days in office, Donald Trump is no Franklin D. Roosevelt

    Source: The Conversation – Canada – By Ronald W. Pruessen, Emeritus Professor of History, University of Toronto

    Watching United States President Donald Trump weave and chainsaw his way through the first 100 days of his second term in office, I’ve been reminded of what Anthony Eden, the United Kingdom’s foreign secretary in the 1930s and later its prime minister, once said about Franklin D. Roosevelt.

    FDR, Eden recalled in his memoirs, was “too like a conjurer, skilfully juggling balls of dynamite, whose nature he failed to understand.”

    The image fits the 47th president much better than the 32nd.

    The dynamite-wielding Trump

    Dynamite has certainly been exploding regularly since Trump took office in January. His actions include:



    Read more:
    How Project 2025 became the blueprint for Donald Trump’s second term

    For non-MAGA enthusiasts, it is easy to surmise — similar to Eden’s remarks on FDR — that Trump does not understand the potential damage of the dynamite he is not just juggling, but hurling.

    A case might be made that some lobs align with Trump’s personal penchant for retribution, or that the chainsaw is being wielded to make room in the federal budget for new tax cuts for the one per cent.

    But such calculations disregard deeply rooted American values like respect for the rule of law and the separation of powers.

    Trump’s actions could suggest a lust for mayhem apparently aimed at dismantling a century of efforts to shape a government that serves global security while also meeting the economic, social and health care needs of American citizens, including safety net provisions for senior citizens, children, farmers, veterans and others.

    Threats today, damage tomorrow

    His apparent fondness for dynamite is already having negative consequences, with seemingly little grasp of the likelihood of worse to come: today, he’s upending the lives of civil servants; tomorrow’s disruptions will likely include an attack on the services provided by agencies like the Social Security Administration and disruption of the flow of funds to many poor school districts.

    Today, the U.S. is struggling with a measles outbreak. But the personal beliefs of Health and Human Services Director Robert F. Kennedy, Jr., a notorious vaccination and public health skeptic, doesn’t bode well for a fight against a rapidly evolving avian flu threat on the near horizon.

    Today’s stock and bond market volatility creates the possibility of a trade war catastrophe and damage to economic stability as the U.S. appears poised to disregard its longtime status as the world economy’s “safe haven.”

    The current tensions in what were once ironclad partnerships with allies that include Canada, the European Union and Ukraine — along with the whiplash reversal of American-Russian dynamics — are reminiscent of the global disruption in the 1930s that featured the Great Depression and the eruption of the Second World War.

    How FDR coped with explosions around him

    If Eden’s image of FDR as a dangerous juggler of dynamite might also apply to Trump, it fails to capture the essential attributes of the 32nd president’s White House career. Eden’s ego seems to have undercut his appraisal of FDR — compounded by his own failure to understand the historical developments that profoundly weakened the British Empire and brought his own career to an end.

    There’s no question dynamite was exploding in 1933, the start of FDR’s 12 years in the White House. But the Depression and its evolving consequences, not FDR’s personal impulses and misconceptions, created a tinderbox decade.

    One of Roosevelt’s great strengths, in fact, was his ability to recognize the acute dangers emanating from a fearful cortege of flaming fuses. Another was his success in turning insights into meaningful actions.

    Roosevelt knew — far better than his predecessor, Herbert Hoover — that the onset of the Depression would require dramatic actions and fundamental reforms.

    His New Deal expanded the government’s role in stimulating the economy (for example, the Public Works Administration), regulation (the Securities Exchange Commission), social welfare initiatives (the Social Security program) and infrastructure development (for example, the Tennessee Valley Authority).

    The Depression wasn’t fully eradicated — that didn’t happen until after war broke out — but the lives of millions of Americans still improved significantly.

    Of equal importance, FDR’s creative thinking and government transformations created building blocks for further post-war reforms, including Lyndon Johnson’s Great Society efforts three decades later.



    Read more:
    The Great Society: the forgotten reform movement

    Roosevelt also knew that the devastation of the Depression and the unparalleled destruction of the Second World War required a transformation of the global arena. He believed technology — air power especially — had created an integrated world. In his January 1943 State of the Union address, he said:

    “Wars grow in size, in death and destruction, and in the inevitability of engulfing all nations, in inverse ratio to the shrinking size of the world as a result of the conquest of the air.”

    Sharing responsibilities

    FDR believed the world he worked to create would be safer and more prosperous because multilateral organizations would encourage greater emphasis on shared resources and responsibilities. The United Nations, the International Monetary Fund and the World Bank took shape during FDR’s presidency — as did long-term plans for decolonization and human rights initiatives.

    Roosevelt knew too — better than many of his White House successors — that the U.S. needed to share leadership responsibilities. He believed emphatically in multilateralism, recognizing the limits of American resources and power, and the pragmatism of compromising with the priorities of others, whether they were powerful states or colonial peoples.

    His “Four Policemen” approach to maintaining peace — comprising the U.S., the U.K., the Soviet Union and China — would sometimes create unpalatable situations. He was criticized harshly, for example, for naively opening the door to Soviet domination of eastern Europe via the Yalta agreement. Nonetheless, FDR focused on efforts he believed would avert another destructive cataclysm.

    FDR was an imperfect leader in various ways — in not appreciating, for example, how global leadership could result in arrogance. He did, however, understand the explosive domestic and international developments of the 20th century and sought constructive solutions to grave challenges.

    Trump, on the contrary, is seemingly prioritizing destruction over construction. Propelled by a “move fast and break things” mantra, there’s little evidence that he understands its pain nor the damaging consequences of his impulses.

    Ronald W. Pruessen has received funding from the Social Sciences and Humanities Research Council of Canada.

    – ref. Juggling dynamite? At 100 days in office, Donald Trump is no Franklin D. Roosevelt – https://theconversation.com/juggling-dynamite-at-100-days-in-office-donald-trump-is-no-franklin-d-roosevelt-254773

    MIL OSI – Global Reports –

  • MIL-OSI USA: Cortez Masto, Storey County Leaders Tour New Lockwood Senior Center

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

     Cortez Masto Secured $2.5 Million for Senior Center in Bipartisan Government Funding Package for FY23

    Reno, Nev. – Last week, U.S. Senator Catherine Cortez Masto (D-Nev.) joined Storey County Commissioner Donald Gilman and Storey County Director of Health and Community Services Stacy York to highlight the new Lockwood Senior Center – set to open in late 2025. In 2022, Cortez Masto secured $2,500,000 in bipartisan government funding legislation for this project.

    “Here in rural Nevada, you don’t always have access to community services like this in your backyard, but I’m thrilled that will soon change,” said Senator Cortez Masto. “I’m proud to have secured $2.5 million to bring this senior center to life, and I’m sure it will be a future cornerstone of our Lockwood community.”

    The Lockwood Senior Center will provide resources and services to seniors in Lockwood, including meals on wheels, transportation services, a food pantry, case management, and mental health services. The senior center also plans to serve the greater Lockwood community by providing county services, school meals, and a health office.

    Senators Cortez Masto and Jacky Rosen (D-Nev.) secured $167.62 million in Community Project Funding to support 85 programs and projects across Nevada as part of the FY2023 bipartisan funding package. A full list of projects in Nevada that received community project funding can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: Kelly Announces Service Academy Appointment

    Source: United States House of Representatives – Representative Trent Kelly (R-Miss)

    Kelly Announces Service Academy Appointment

    Washington, April 28, 2025

    WASHINGTON, D.C. – U.S. Representative Trent Kelly (R-MS) is pleased to announce the appointment of Conner Couch to the U.S. Naval Academy. A senior at Hernando High School, Conner has earned numerous academic honors and awards in the classroom, sports, and extracurricular activities.

    Conner is dedicated to community service as a volunteer for HHES Mentoring and Hernando Parks and Recreation. He has been involved in various leadership roles, including serving on the Hernando Mayor’s Youth Leadership Council, the Fellowship of Christian Athletes, as a student at Air Venture Flight Center, and as a Student Ambassador Leader.

    “I am excited to attend the United States Naval Academy because I can pursue a desired STEM major and actively work toward a career in the Navy,” Conner said. “I hope to become a Naval Aviator, but if that doesn’t work out, I aspire to pursue a career in submarine warfare. I am very thankful for my family, community, and God for making this aspiration possible.”

    For more information about Service Academy nominations through our office, please contact Robert Smith at (662) 687-1540 or send him an email at Robert.Smith@mail.house.gov

    MIL OSI USA News –

  • MIL-OSI USA: Dingell, Fitzpatrick, Wasserman Schultz Reintroduce Bipartisan Legislation to Increase Access to Breast Cancer Diagnostic Tests

    Source: United States House of Representatives – Congresswoman Debbie Dingell (12th District of Michigan)

    Today, Representatives Debbie Dingell (D-MI), Debbie Wasserman Schultz (D-FL), and Brian Fitzpatrick (R-PA), co-chairs of the House Cancer Caucus, reintroduced bipartisan legislation to make breast cancer diagnostic tests more affordable and accessible to women by eliminating copays and additional out-of-pocket expenses. The Access to Breast Cancer Diagnosis Act requires insurance companies to cover diagnostic and supplemental breast examinations without cost-sharing.

    “We know that early diagnosis saves lives, so no one should be unable to access critical testing because they can’t afford it,” said Dingell. “One in eight women will develop breast cancer in her lifetime, and this bipartisan legislation would eliminate financial barriers that prevent too many women from getting the diagnostic imaging tests they need.”

    “Access to life-saving diagnostic testing should never depend on a person’s ability to pay. When it comes to breast cancer, early diagnosis is critical — and financial barriers can be deadly,” said Fitzpatrick. “The Access to Breast Cancer Diagnosis Act ensures that no woman is left behind simply because she cannot afford the care she needs. As Co-Chair of the House Cancer Caucus, this legislation is part of my ongoing mission to deliver bipartisan solutions that expand access, strengthen early detection, and save lives.”

    “As a breast cancer survivor who was diagnosed early, at age 41, I know firsthand how critical early detection is to survival. It helped save my life, but cost should never be a barrier that delays women from getting screenings,” said Wasserman Schultz. “At a time when breast cancer is affecting more and more women, especially younger women, I am proud to collaborate with my colleagues on this important, bipartisan legislation, to eliminate copays and additional out-of-pocket expenses that create breast cancer diagnostic testing hurdles. We cannot allow financial status to limit access to essential services, like screenings and preventive care. Too many lives depend on it.”

    “For far too many, needed breast imaging and access to a timely diagnosis are still out of reach due to high out-of-pocket expenses, leaving patients forced to decide between their health and their finances,” said Molly Guthrie, Vice President of Policy and Advocacy at Susan G. Komen. “The Access to Breast Cancer Diagnosis Act will remove the financial barrier to diagnostic and supplemental breast imaging so that individuals can get the care they need without having to endure undue financial burden. We grateful to Senators Jeanne Shaheen and Katie Britt and Representatives Debbie Dingell, Debbie Wasserman Schultz, and Brian Fitzpatrick for their leadership on this vital legislation.”

    Under current law, insurance companies are required to cover preventive health care like breast cancer screenings without copays, but not diagnostic testing. If a breast cancer screening shows that a woman may have breast cancer, a diagnostic test like an MRI or ultrasound is required to determine whether cancer is present. Since diagnosis is a separate process from screening, this disparity in coverage can result in additional costs for patients for required diagnostic tests.

    Text of the legislation can be found here.

    MIL OSI USA News –

  • MIL-OSI Security: California Truck Driver Sentenced to Eleven Years in Prison for Trafficking $2.5 Million Worth of Cocaine

    Source: Office of United States Attorneys

    ROCKFORD — A California truck driver was sentenced today to eleven years in federal prison for trafficking $2.5 million worth of cocaine that was destined for Chicago. 

    RONALD COLEMAN, 45, of Barstow, Calif., pleaded guilty earlier this year to one count of possession with intent to distribute five kilograms or more of cocaine.  U.S. District Judge Iain D. Johnston imposed the sentence during a hearing in federal court in Rockford.

    Coleman admitted in a plea agreement that in April 2023 he was the driver of a semi-truck and trailer traveling through Whiteside County, Ill. on Interstate 88. Inside his semi-trailer, he knowingly and intentionally possessed with the intent to distribute more than 91 kilograms of cocaine with a street value of $2.5 million. Coleman was transporting the cocaine to a warehouse in Chicago, where he was to exchange the drugs for cash and transport the money back to California.  Inside his semi-truck, Coleman also possessed a firearm to protect himself, the cocaine, and the cash during the transport.  Coleman expected to be paid for transporting the cocaine from California to Chicago.

    The sentence was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Sheila G. Lyons, Special Agent-in-Charge of the Chicago Field Division of the U.S. Drug Enforcement Administration. The Illinois State Police provided assistance in the investigation.

    The government was represented by Assistant U.S. Attorneys Robert S. Ladd.

    MIL Security OSI –

  • MIL-OSI Security: Repeat Felon who Fought Police Sentenced to 14 Years in Federal Prison for Firearm Possession

    Source: Office of United States Attorneys

    NEWNAN, Ga. – Arthur Gene Young, a multi-convicted felon with a history of violence, has been sentenced to federal prison for unlawfully possessing a firearm while resisting police officers in a small west Georgia city.                                                                                                                                      

    “Armed felons cannot be allowed to terrorize the citizens of our district,” said Acting U.S. Attorney Richard S. Moultrie, Jr. “After Young was arrested with a firearm for the third time in two years, local law enforcement wisely sought federal assistance to ensure he would be removed from the community. We will continue to work with our partners at all levels to protect the public from gun violence and repeat violent offenders.”

    “The law-abiding citizens of this community are safer because of today’s sentence which will ensure the incarceration of a dangerous criminal and contribute to the restoration of order and peace to this area,” said ATF Special Agent in Charge Benjamin Gibbons.  “This sentence sends a direct message to criminals that ATF and our local law enforcement partners will investigate violent criminals and protect citizens.”

    “The partnership of local, state and federal law enforcement agencies is imperative to help local communities stay safe,” said Bremen Police Department Lieutenant Joshua Newman. “The Bremen Police Department would like to thank all the agencies and law enforcement officers that were involved in this case.”

    According to Acting U.S. Attorney Moultrie, the charges and other information presented in court: On May 2, 2023, less than a month after his release from state prison for other criminal conduct, Arthur Gene Young shoplifted from a pharmacy located in Bremen, Georgia. He returned to the pharmacy the following morning and argued with the store manager. Police officers responded and, upon learning of the earlier shoplifting incident, escorted Young from the store to arrest him. Young refused to obey the officers’ commands and shouted that he would not go back to prison as he fled the scene. 

    As officers pursued Young through the center of town and towards a church preschool, Young exclaimed that he was armed and demanded to be left alone. As additional officers responded, Young crossed a highway, scaled a berm, and walked onto an active train track. There, he grabbed the wrist and arm of a deputy sheriff who attempted to detain him. Ultimately, Young tripped, giving officers an opportunity to place handcuffs around one of his wrists. But Young fought the officers and refused to comply as the officers attempted to fully cuff him. During the struggle, one of the officers noticed the grip of a loaded 7.65mm semiautomatic pistol in Young’s right pants pocket. The officer managed to secure the weapon before Young was finally handcuffed. 

    As a multi-convicted felon, Young was legally prohibited from possessing firearms. Young’s decade-long criminal record included convictions for crimes of violence, such as attempted robbery by intimidation and terroristic threats, as well as other offenses. Additionally, at the time of his arrest following the incident at the Bremen pharmacy, Young was under indictment and on pretrial release in three cases brought in 2021 and 2022 charging him with attempted armed robbery, attempted robbery by intimidation, and two counts each of felon in possession of a firearm, aggravated assault, and simple assault.

    Arthur Gene Young, 34, of Bremen, Georgia, was sentenced on April 22, 2025, by Chief U.S. District Judge Timothy C. Batten, Sr. to 14 years in prison to be followed by three years of supervised release. Young was convicted of possession of a firearm by a prohibited person on January 14, 2025, after he pleaded guilty in the middle of a jury trial.

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Bremen Police Department. The Haralson County Sheriff’s Office, Carroll County Sheriff’s Office, and Georgia State Patrol provided valuable assistance.

    Assistant United States Attorneys Theodore S. Hertzberg and Amy M. Palumbo prosecuted the case.

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

    For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6280. The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.

    MIL Security OSI –

  • MIL-OSI Security: Syracuse Man Sentenced for Distribution, Transportation and Possession of Child Pornography

    Source: Office of United States Attorneys

    SYRACUSE, NEW YORK – Paul Mignacca, age 46, of Syracuse, was sentenced today to 78 months in federal prison for distribution, transportation, and possession of child pornography. United States Attorney John A. Sarcone III and Craig R. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI), made the announcement.

    Between September 2023 and February 2024, Mignacca uploaded several videos of child sexual abuse material to a social media application group chat dedicated to sharing child pornography files, as well as to Mignacca’s private account on an Internet-based filesharing application. Law enforcement arrested Mignacca in April 2024 and seized his electronic devices. Digital forensic analysis revealed that Mignacca possessed more than 3,400 files constituting child pornography.

    United States Chief District Judge Brenda K. Sannes also ordered Mignacca to serve a 10-year term of post-incarceration supervised release, to pay a total of $60,000 in restitution to children identified from the child pornography he possessed, and to forfeit the electronic device he used to commit the offenses. Mignacca will also be required to register as a sex offender after his release from prison.

    The case was investigated by the FBI’s Albany Division Child Exploitation and Human Trafficking Task Force, the Onondaga County Sheriff’s Office, and the New York State Police. Assistant U.S. Attorney Ben Gillis prosecuted the case as a part of Project Safe Childhood.

    Project Safe Childhood is a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse. Led by the U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

    MIL Security OSI –

  • MIL-OSI Security: Defense News: Harry S. Truman Carrier Strike Group F/A-18 Super Hornet Lost at Sea

    Source: United States Navy

    MANAMA, Bahrain – USS Harry S. Truman (CVN 75) lost an F/A-18E Super Hornet assigned to Strike Fighter Squadron (VFA) 136 and a tow tractor as the aircraft carrier operated in the Red Sea, April 28. All personnel are accounted for, with one Sailor sustaining a minor injury.

    MIL Security OSI –

  • MIL-OSI Russia: Denis Manturov took part in the main plenary session of Innoprom

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    First Deputy Prime Minister of the Russian Federation Denis Manturov took part in the international exhibition “Innoprom. Central Asia” and spoke at the main plenary session “Strategic Industrial Partnership in Central Asia: Integration Based on Advanced Technologies”. Deputy Prime Minister of the Republic of Uzbekistan Jamshid Khodjaev also took part in the main session.

    Opening the main session, Denis Manturov noted that today the development of industrial partnership with the Central Asian countries is one of the absolute priorities: “Today, Russian enterprises are widely represented in the region. Their share in the total number of foreign companies in Uzbekistan is about 20%, in Kyrgyzstan more than 30%, and in Kazakhstan already over 40%. The total volume of Russian investments in the economy of the Central Asian states last year alone exceeded 760 billion rubles. This allows us to increase the portfolio of joint projects in agricultural machinery, pharmaceuticals, the automotive industry, the chemical industry, metallurgy and many other industries.”

    The First Deputy Prime Minister noted that, despite the high level of cooperation, the growth potential has not been exhausted, and stressed the need to expand cooperation in response to global challenges, including in the areas of green economy, infrastructure projects, retail, etc.

    “If we talk about promising areas of our cooperation, they are consolidated in national projects of technological leadership. We started their implementation in Russia this year. We place special emphasis on achieving sovereignty over the means of production, including additive solutions and industrial robots. The same applies to the development of all types of transport, including on alternative fuel and with elements of autonomy. Our special focus is the development of new materials and chemicals. As well as improving technologies for medicine, energy, agriculture and expanding the range of space services,” Denis Manturov emphasized.

    “It is gratifying to note that the scale of the exhibition is growing every year, attracting participants not only from Russia and Central Asian countries, but also from a number of other countries, such as Saudi Arabia, Belarus, and Afghanistan. Today we are seeing new promising and large-scale horizons for cooperation. By the end of 2024, Uzbekistan’s trade with Russia and Central Asian countries approached $20 billion. There are about 5,000 enterprises in Uzbekistan with capital from these countries. More than 650 joint projects worth $67 billion are being implemented in various sectors of our country’s economy. Despite such a rich level of relations, we all understand that this is far from the limit,” said Jamshid Khodjaev.

    Denis Manturov and Zhamshid Khodjaev also took part in the ceremony of exchanging folders of signed agreements at Innoprom, aimed at developing cooperation in the trade and economic, scientific and technical, social and cultural and humanitarian spheres.

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

    MIL OSI Russia News –

  • MIL-OSI USA: ICE investigation leads to charges against Rwandan man for concealing role as perpetrator of genocide

    Source: US Immigration and Customs Enforcement

    NEW YORK — An investigation by U.S. Immigration and Customs Enforcement resulted in charges against a Rwandan man for lying on his applications for a green card and United States citizenship by concealing his past role as a local leader and perpetrator of violence during the genocide in Rwanda in 1994.

    As alleged, Faustin Nsabumukunzi, 65, who was living in Bridgehampton, New York, was a local leader with the title of “Sector Counselor” in Rwanda in 1994 when the genocide began. Between April and July of that year, members of the majority Hutu population persecuted the minority Tutsis, committing acts of violence including murder and rape. An estimated 800,000 ethnic Tutsis and moderate Hutus were killed during the three-month genocide. Nsabumukunzi was arrested April 24 on Long Island.

    ICE Homeland Security Investigations New York acting Special Agent in Charge Darren B. McCormack; Matthew R. Galeotti, head of the Justice Department’s Criminal Division; and John J. Durham, U.S. Attorney for the Eastern District of New York announced the charges.

    “This defendant has been living in the United States for decades, hiding his alleged horrific conduct, human rights violations, and his role in these senseless atrocities against innocent Tutsis,” said ICE HSI New York acting Special Agent in Charge Darren B. McCormack. “The depraved conduct of which the defendant is accused represents the worst of humanity. As demonstrated through the tireless work of HSI New York agents, analysts, and task force officers, we will never tolerate the safe harboring of individuals linked to such unimaginable crimes.”

    Acting SAC McCormack thanked United States Citizenship and Immigration Services personnel for their collaborative and assistance.

    “This case is the epitome of HSI’s commitment to ensuring the United States is not a safe haven for human rights violators,” said Andre R. Watson, Assistant Director for National Security. “We will work tirelessly to identify, investigate and remove perpetrators of genocide, torture, war crimes and other human rights violations and to ensure justice for their victims.”

    As alleged in the indictment, Nsabumukunzi used his leadership position to oversee the violence and killings of Tutsis in his local area and directed groups of armed Hutus to kill Tutsis. He is alleged to have set up roadblocks during the genocide to detain and kill Tutsis and to have participated in killings. According to court filings, Nsabumukunzi was subsequently convicted in absentia by a Rwandan court for genocide.

    As further alleged, Nsabumukunzi applied for admission to the United States in 2003, applied for and received a green card in 2007, and later submitted applications for naturalization in 2009 and 2015. Nsabumukunzi is alleged to have lied to U.S. immigration officials in his immigration applications, including by falsely denying any involvement as a perpetrator of the Rwandan genocide. As a result of his ongoing efforts to conceal his actions during the genocide, Nsabumukunzi has been able to live and work in the United States since 2003.

    “As alleged, the defendant participated in the commission of heinous acts of violence abroad and then lied his way into a green card and tried to obtain U.S. citizenship,” said Galeotti. “No matter how much time has passed, the Department of Justice will find and prosecute individuals who committed atrocities in their home countries and covered them up to gain entry and seek citizenship in the United States.”

    “As alleged, Nsabumukunzi repeatedly lied to conceal his involvement in the horrific Rwandan genocide while seeking to become a lawful permanent resident and citizen of the United States,” said U.S. Attorney Durham. “For over two decades, he got away with those lies and lived in the United States with an undeserved clean slate, a luxury that his victims will never have, but thanks to the tenacious efforts of our investigators and prosecutors, the defendant finally will be held accountable for his brutal actions.”

    Nsabumukunzi is charged with one count of visa fraud and two counts of attempted naturalization fraud. The defendant made his initial court appearance April 24 in the Eastern District of New York. If convicted, he faces a statutory maximum penalty of 30 years in prison.

    ICE HSI New York’s Assistant Special Agent in Charge Long Island office investigated the case, with assistance from the Human Rights Violators and War Crimes Center. Currently, HSI has more than 180 active investigations into suspected human rights violators and is pursuing more than 1,945 leads and removals cases involving suspected human rights violators from 95 different countries. Since 2003, the HRVWCC has issued more than 79,000 lookouts for potential perpetrators of human rights abuses, and stopped over 390 human rights violators and war crimes suspects from entering the U.S.

    Members of the public who have information about former human rights violators in the United States are urged to contact U.S. law enforcement through the ICE Tip Line at 1-866-DHS-2-ICE (1-866-347-2423) or internationally at 001-1802-872-6199. You can also email HRV.ICE@ice.dhs.gov or complete the online tip form.

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

    MIL OSI USA News –

  • MIL-OSI Africa: Afreximbank launches US$3 Billion Revolving Intra-African Oil Import Financing Programme

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

    CAIRO, Egypt, April 28, 2025/APO Group/ —

    To address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of US$30billion annually in petroleum import costs due to inadequate refining, African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has launched a US$3 Billion Revolving Intra-African Oil Trade Financing Programme to finance the purchase of refined petroleum products by African and Caribbean oil buyers.

    As a revolving facility, we expect it to finance about US$10 billion to US$14 billion of Intra-African petroleum imports. This programme seeks to leverage the growing refining capacity that Afreximbank has helped establish across the continent, while aligning with the objectives of the African Continental Free Trade Area (AfCFTA) agreement, which includes facilitating intra-African trade, promoting industrialisation, and creating jobs on the continent.

    By deploying innovative trade finance and supply chain solutions tailored to key stakeholders’ needs in terms of tenure, price format and logistics requirements, this initiative supports Afreximbank’s strategic goals of advancing energy security, strengthening regional value chains, and fostering economic resilience within the continent and the Caribbean.

    Afreximbank is the largest financier of the Dangote refinery which commenced operations in January 2024 and is also supporting the financing of the 200,000 bpd Lobito Refinery development, building on the progress made on the 60,000 bpd Cabinda Refinery, which it also supported. In addition, the Bank has financed the refurbishment of the 210,000 bpd Port Harcourt Refinery, and recently approved financing in support of the development of Bua Refinery and Azikel Refinery, all in Nigeria. Through these investments, and the continual trade finance support for Société Ivoirienne de Raffinage (SIR), Cote d’Ivoire, Afreximbank is on its way to creating over 1.3 million bpd refining capacity and helping to convert the Gulf of Guinea from an exporter of crude oil into an important refining hub for the continent and the world.

    Key products to be traded under the programme are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.

    The US$3 billion Revolving Intra-African Oil Import Financing Programme is intended to mainly provide critical trade finance to oil traders (both African and international), banks, and Governments – represented by their Ministry of Finance or Ministry of Petroleum Resources/Energy – and state-owned enterprises mandated to import refined petroleum products, who seek to source refined products from African Refineries for onward consumption within the continent and export opportunities as may be applicable. Afreximbank, affiliated trading entity ATDC Minerals (ATMIN) will also participate actively in the trading and financing activities of the leading African oil trading companies with long term relationship with Afreximbank who are also expected to support this effort.

    An approved applicant will be able to request utilization under the Global Limit within allocated sub-limits upon KYC clearance and satisfactory completion of conditions precedent as follows:

    • Issuance/Confirmation of Letters of Credit or any acceptable trade instrument with refineries in Africa as beneficiaries
    • Discounting of Letters of Credit or any acceptable trade instrument to the benefit of refineries in Africa
    • Prepayment and direct advances to eligible refineries in Africa

    Commenting on the launch, Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the programme “would galvanise efforts towards making the Gulf of Guinea a key refining hub. Whilst the programme will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa, it will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products. The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa.”

    Also commenting on the initiative, His Excellency Dr. Lazarus Chakwera, President of the Republic of Malawi, said:

    “This programme is a clear demonstration of Africa’s resolve to take charge of its own energy future. We commend Afreximbank for this timely intervention, which stands to benefit African countries like Malawi by reducing import dependency, strengthening regional supply chains, and keeping more value within the continent. Most importantly, it will deliver real impact to our citizens by ensuring more stable and affordable access to refined petroleum products, which are essential to Malawians’ daily life and economic productivity.”

    MIL OSI Africa –

  • MIL-OSI Africa: Afreximbank announces specialized African Continental Free Trade Area (AfCFTA) training to empower African businesses

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

    CAIRO, Egypt, April 28, 2025/APO Group/ —

    To enable African businesses to fully capitalise on the opportunities presented by the African Continental Free Trade Area (AfCFTA), African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has announced a specialized training program designed to equip enterprises with a deep understanding of the agreement’s commercial implications and transformative potential.

    Scheduled to take place in Abuja, Nigeria, from June 30 to July 2, 2025, the training program is designed to provide businesses with practical policy-relevant insights into the AfCFTA’s evolving regulatory and institutional landscape. It will help participants interpret key treaty instruments, ensuring compliance with new trade rules while enhancing their knowledge of regional integration and operational mechanisms. Additionally, the program will serve as a crucial platform for guiding both prospective and existing exporters on new trade developments, equipping them with the tools to navigate tariff and non-tariff barriers across the continent.

    Conceived and implemented by Afreximbank in collaboration with the American University in Cairo (AUC) and the AfCFTA Secretariat, the training is expected to attract a diverse range of participants, including African corporates engaged in import and export activities, Trade Support Institutions such as Trade Promotion Organizations and Chambers of Commerce, Investment Promotion Agencies, Export Trading Companies, Financial Institutions, and the broader foreign trade community.

    Participants will also benefit from tailored presentations on key Afreximbank products and initiatives that support the AfCFTA’s implementation, including the Pan-African Payment and Settlement System (PAPSS), Africa Trade Gateway (ATG), and various trade finance solutions.

    Addressing critical knowledge gaps to unlock AfCFTA’s potential

    Reflecting on the significance of the program, Dr. Yemi Kale, Group Chief Economist & Managing Director of Research at Afreximbank, emphasized that while the AfCFTA holds immense potential for Africa’s economic growth, its success hinges on the ability of businesses to fully understand and operationalize its provisions. However, limited understanding of its technical and operational aspects has prevented many businesses from fully leveraging its benefits.

    “The AfCFTA is not just a policy framework—it is a catalyst for a structural shift in Africa’s economic landscape,” said Dr. Kale. “However, many African businesses are still grappling with limited awareness of the agreement’s technical provisions, trade protocols, and strategic benefits. This knowledge deficit has constrained their ability to compete effectively, expand their market reach, and optimize value chains across the continent.”

    He further explained that without a solid grasp of the AfCFTA’s tariff schedules, rules of origin, customs cooperation, and dispute resolution mechanisms, even the most competitive enterprises risk missing out on critical growth opportunities.

    “This training is about more than compliance; it is about empowerment. It equips participants not only to meet regulatory requirements but also to develop export strategies, diversify markets, and improve competitiveness.”

    Tsotetsi Makong, Director Coordination and Programmes at the AfCFTA Secretariat, reinforced this point, stating:

    “This training program will help African businesses seeking export opportunities overcome key challenges, including understanding African markets in depth, navigating market rules and compliance requirements, and optimizing cross-border product transportation. To fully harness the AfCFTA’s potential, it is essential to address these barriers and build the capacity of African companies to transition from local production for domestic consumption to a model that supports exports across the continent and beyond.”

    He further highlighted Afreximbank’s commitment to the AfCFTA’s full implementation, stressing that by developing the necessary competencies and industrial capacity, all African nations can maximize the benefits of a single market. He called on both public and private sector stakeholders to deepen their understanding of the agreement’s operationalization to drive sustainable economic growth.

    Afreximbank’s role in advancing the AfCFTA

    As a key partner to the African Union in the implementation of the AfCFTA, Afreximbank has spearheaded multiple initiatives that enhance intra- and extra-African trade and investment. Leveraging the expertise of its Trade Intelligence Solutions Unit and Human Resources and Learning Department, the Bank serves as the anchor institution for the AfCFTA Training Program, ensuring that African businesses are well-equipped to thrive in the new trade environment. The upcoming training is the second edition and will also mark a milestone as one of the first major events hosted at the recently launched Afreximbank African Trade Centre (AATC) in Abuja. Purposely designed as a strategic hub for trade facilitation, investment promotion, and business collaboration, the AATC features state-of-the-art conference facilities, premium hospitality services, and a dynamic environment conducive to learning and networking .

    By equipping African businesses with the knowledge and tools needed to navigate the AfCFTA, Afreximbank continues to play a pivotal role in unlocking Africa’s vast trade potential and driving economic transformation across the continent.

    MIL OSI Africa –

  • MIL-OSI Security: Marathon County Man Sentenced to Seven Years for Conspiring to Traffic Methamphetamine

    Source: Federal Bureau of Investigation (FBI) State Crime News

    MADISON, WIS. – Timothy M. O’Shea, United States Attorney for the Western District of Wisconsin, announced that Dustin P. Brunker, 37, Weston, Wisconsin, was sentenced yesterday by U.S. District Judge William M. Conley to 7 years in federal prison for conspiring to distribute 50 grams or more of methamphetamine. The prison term will be followed by 5 years of supervised release. Brunker pleaded guilty to this charge on January 28, 2025.

    In early 2024, investigators with the Central Wisconsin Narcotics Task Force began investigating a group of individuals who were distributing large quantities of methamphetamine and cocaine in the Marathon County area. Brunker was identified as a distributor for the group.

    Following a series of controlled purchases of methamphetamine involving Brunker in March and April of 2024, task force officers executed a search warrant at a residence that Brunker shared with co-defendant Mercadys A. Perkins in Weston. Officers found over 300 grams of methamphetamine, over $2,000 in cash, drug ledgers, and other drug trafficking paraphernalia during the search.

    Further investigation revealed that between February 18, 2024, and April 12, 2024, a co-conspirator provided Brunker and Perkins approximately 16 pounds of methamphetamine and 6 ounces of cocaine intended for further distribution.

    At the time of these events, Brunker was serving a term of state supervision for two felony cases and out on state bond for a felony drug charge. His state supervision was revoked, and he was sentenced to a total of 3 years in state prison, which he is currently serving. Judge Conley ordered the federal sentence run concurrently with the remainder of Brunker’s state prison sentences.

    At sentencing, Judge Conley called Brunker’s large quantity methamphetamine trafficking egregious. Judge Conley further observed that while Brunker had a lengthy prior record, the conduct in the present case showed an escalation in criminality.

    Three others were charged in connection with this drug trafficking conspiracy. Mercadys Perkins was convicted of conspiracy to distribute 50 grams or more of methamphetamine and sentenced to 6 years in federal prison on April 17, 2025. Joshua Lake and Jessica Colby have pleaded guilty and are scheduled to be sentenced in the coming weeks.

    The charge against Brunker was the result of an investigation conducted by the Federal Bureau of Investigation’s Central Wisconsin Narcotics Task Force comprised of investigators from the FBI, Wisconsin State Patrol, Wisconsin Department of Criminal Investigation, Lincoln County Sheriff’s Office, Marathon County Sheriff’s Office, Portage County Sheriff’s Office, Mountain Bay Police Department, Wausau Police Department and Wisconsin National Guard Counter Drug Program. The ATF Madison Crime Gun Task Force also assisted with the case. The ATF Madison Crime Gun Task Force consists of federal agents from ATF and Task Force Officers from state and local agencies throughout the Western District of Wisconsin. The Marathon County District Attorney’s Office also assisted with the investigation. Assistant U.S. Attorney Steven P. Anderson prosecuted this case. 

    MIL Security OSI –

  • MIL-OSI USA: AFSCME’s Saunders: A historic and relentless assault on working people and unions underscore the first 100 days of this administration

    Source: American Federation of State, County and Municipal Employees Union

    WASHINGTON – AFSCME President Lee Saunders released the following statement marking the first 100 days of the second Trump administration this week:

    “During the campaign, Trump promised to put working people first, lower rising costs on groceries and gas and preserve our earned benefits and health care. Instead, the first one 100 days of this billionaire-run administration have been fueled by lies, broken promises, and a relentless assault on working people and unions.

    “He has handed over the reins of government to billionaires — appointing the wealthiest cabinet in American history, kicking off a trade war that is raising prices on everyday goods, attacking Social Security and Medicaid, cutting wages for workers, and stripping collective bargaining rights from more than 1 million federal employees. The White House claimed it had nothing to do with Project 2025, yet it has already implemented over one-third of the anti-worker agenda, often sidestepping Congress and the courts to do so.

    “The fallout has been immediate. Retirees are left wondering how to navigate Social Security as staff are laid off, offices are closed, and services are cut. People are watching their retirement savings shrink. Lifesaving health and safety regulations have been put on hold. Students with disabilities are losing vital support from the Department of Education. The Department of Health and Human Services is clawing back funding from states, cities and towns to fight infectious diseases as measles is on the rise, and it’s just the beginning. It is clear that Medicaid cuts are next on the agenda, kicking millions of retirees, children and working people off their health care and upending our entire health care system.

    “This administration refuses to reverse course, because its No. 1 goal is to hand out massive tax breaks to billionaires by robbing our communities of public services and workers of our power. Make no mistake — this will devastate our economy.

    “In response, workers across the country are organizing with AFSCME to build real people power. Tens of thousands of public service workers have joined AFSCME since the start of the year. They are getting organized — hosting town halls, mobilizing their co-workers, and flooding Congress with thousands of letters, calls and petitions demanding action to rein in this hostile takeover.

    “In the courts, AFSCME is fighting to stop the mass firings of federal employees, safeguard Americans’ Social Security data, block the unlawful shutdown of federal agencies, challenge cuts of federal grants to state and local governments that fund essential public services, contest the elimination of collective bargaining rights, and more.

    “No matter how this administration attempts to reframe and erase history, we will never forget: It is working people who are the backbone of this nation. We built the middle-class. We built this country, and we will fight to protect our freedom to thrive.”

    MIL OSI USA News –

  • MIL-OSI USA: How To Apply for FEMA Assistance Following April Severe Storms in Kentucky

    Source: US Federal Emergency Management Agency

    Headline: How To Apply for FEMA Assistance Following April Severe Storms in Kentucky

    How To Apply for FEMA Assistance Following April Severe Storms in Kentucky

    FRANKFORT, Ky

    –FEMA is supporting recovery efforts for multiple disasters in Kentucky, including a new major disaster that was just declared on April 25, for severe storms, straight-line winds, tornadoes, flooding, landslides, and mudslides that occurred on April 2 and are continuing

    How To Apply for FEMA AssistanceSurvivors in the Anderson, Butler, Carroll, Christian, Clark, Franklin, Hardin, Hopkins, Jessamine, McCracken, Mercer, Owen and Woodford counties who have disaster-caused damage or loss from the April 2 storm can apply for federal disaster assistance under the major disaster declaration DR-4864 in several ways:Online at DisasterAssistance

    gov

    Visit any Disaster Recovery Center

    To find a center close to you, visit fema

    gov/DRC, or text DRC along with your Zip Code to 43362 (Example: “DRC 29169”)

    Use the FEMA mobile app

    Call the FEMA Helpline at 800-621-3362

    It is open 7 a

    m

    to 10 p

    m

    Eastern Daylight Time

    Help is available in many languages

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service

     Assistance from FEMA may include grants for temporary housing while you are unable to live in your home, such as temporary housing assistance or reimbursement for hotel costs for both owners and renters, and grants for disaster-caused expenses and serious needs, such as repair or replacement of personal property and vehicles, funds for moving and storage, medical, dental, childcare and other miscellaneous items

    FEMA assistance may also be provided for repair or replacement of owner-occupied homes that serve as the household’s primary residence, including privately owned access routes, such as driveways, roads or bridges

     Applicants should keep their current contact information on file with FEMA as the agency may need to schedule a home inspection or get additional information

    Disaster assistance is not a substitute for insurance and cannot compensate for all losses caused by a disaster

    The assistance is intended to meet basic needs and supplement disaster recovery efforts

    Apply Separately for Each DisasterWhen two or more disasters are declared in the same state, FEMA ensures survivors receive all eligible assistance while preventing a duplication of federal benefits

    Disaster survivors affected by multiple disasters should apply with FEMA separately for each individual disaster

     When applying for FEMA assistance, be sure to specify the damage and the date it occurred to ensure you are applying under the correct declaration number

    DR-4860-KY for the severe storms, straight-line winds, landslides and mudslides that occurred from Feb14 – March 7

    Homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson, Woodford counties may be eligible

    The deadline to apply under DR-4860-KY is May 25

    DR-4864-KY for the severe storms, straight-line winds, tornadoes, flooding, landslides and mudslides that occurred on April 2 and continuing

    Homeowners and renters in the Anderson, Butler, Carroll, Christian, Clark, Franklin, Hardin, Hopkins, Jessamine, McCracken, Mercer, Owen and Woodford counties may be eligible

    The deadline to apply under DR-4864-KY is 60 days from the date of the presidential disaster declaration

     Homeowners and renters in Woodford County may be eligible for federal assistance under DR-4860-KY or/and DR-4864-KY

    If you had property damage or loss in Woodford County from the February severe incident, and then again from the April severe incident, you will need to complete two separate disaster assistance applications

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860 and www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Mon, 04/28/2025 – 11:49

    MIL OSI USA News –

  • MIL-OSI USA: Important maintenance work begins this week in southwest Washington

    Source: Washington State News 2

    More work and more delays ahead to improve roads

    VANCOUVER – As summer gets closer, travelers in southwest Washington can expect smoother, safer highways thanks to ongoing road repair work.

    Starting Monday, April 28, Washington State Department of Transportation maintenance crews will begin work across Clark, Cowlitz, Klickitat, Lewis, Pacific, Skamania, and Wahkiakum counties. Due to collisions, storm damage and normal wear and tear on roads and bridges, crews will use the warmer, drier weather to fix roads and improve safety.

    Over the next several months, crews will patch potholes, repair guardrails and lights, repaint lane stripes, replace signs, and clean up litter in work zones.

    “There’s never a good time to close a lane or slow down traffic,” said Maintenance Manager, Brad Clark. “But safety is our top priority. This work helps keep travelers safe by improving the roads. We appreciate everyone’s patience while we complete this work.”

    What can travelers expect

    People should plan for daytime lane closures and slower travel speeds. While these short-term delays may be inconvenient, they lead to long-term improvements, better visibility, and safer roads.

    WSDOT will try to reduce delays and share updates about planned work before it starts, especially while maintaining our busiest highways: Interstate 5, I-205, State Route 14 and SR 500.

    MIL OSI USA News –

  • MIL-OSI: Faculty Group and Ghaf Capital Announce Strategic Merger to Launch Web3 Powerhouse, Ghaf Group

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, April 28, 2025 (GLOBE NEWSWIRE) — In a landmark move, Faculty Group and Ghaf Capital today announced their merger to form Ghaf Group, a vertically integrated Web3 advisory business. This strategic union leverages Faculty Group’s full-stack Web3 execution capabilities alongside Ghaf Capital’s elite access to capital markets, sovereign networks, and strategic enterprise relationships across the MENA region and beyond.

    With operations spanning capital allocation, product development, token advisory, liquidity management and marketing, Ghaf Group is uniquely positioned to drive the next wave of blockchain and Web3 growth. The new entity unites over 100 experts across eight subsidiaries under a single, scalable platform committed to delivering institutional-grade solutions and unlocking long-term value across the Web3 economy.

    James Childs, newly appointed CEO of Ghaf Group, commented:

    “This merger is not just an evolution, it’s an inflexion point. Faculty Group has always focused on high-conviction execution in Web3. Now, as Ghaf Group, we bring together global delivery capability with regional strategic access to capital, creating a new category of partner for protocols, corporates, and governments alike.”

    Feras Al Sadek, Chairman of Ghaf Group, added:

    “We’re combining best-in-class infrastructure with unparalleled strategic reach. Ghaf Group will be the trusted bridge between East and West, unlocking capital and capability at scale. This is a defining moment for Web3, and we’re just getting started.”

    The group’s new visual identity, rooted in the symbolism of the resilient Ghaf tree native to the UAE, reflects a commitment to strength, longevity, and organic growth. Ghaf Group is already in advanced discussions with sovereign entities, institutional investors, and emerging protocols as it builds out a robust pipeline for 2025 and beyond.

    Looking ahead, Ghaf Group will accelerate its footprint across MENA and Asia, explore strategic acquisitions, and begin laying the groundwork for a potential UAE-based IPO, positioning itself as a publicly accountable and globally trusted vehicle for Web3 advancement.

    About Ghaf Group

    Ghaf Group is a global Web3 venture platform formed through the merger of Faculty Group and Ghaf Capital. The firm provides integrated services across advisory, token design, venture capital, market-making, marketing, and blockchain development. With strong roots in the Middle East and a global vision, Ghaf Group partners with ambitious founders, forward-looking institutions, and sovereign stakeholders to catalyse the next era of decentralised innovation.

    Media Contact:
    Arvin Nathan
    Head of PR
    an@faculty.group
    hello@ghaf.group

    Disclaimer: This is a paid post and is provided by Ghaf Group. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2754af90-6bf1-4635-b157-7bb32c691abb

    The MIL Network –

  • MIL-OSI Economics: Luis de Guindos: Presentation of the ECB Annual Report 2024 to the Committee on Economic and Monetary Affairs of the European Parliament

    Source: European Central Bank

    Introductory remarks by Luis de Guindos, Vice-President of the ECB, at the ECON Committee of the European Parliament

    Brussels, 28 April 2025

    It is a pleasure to present the ECB’s Annual Report for 2024 to this esteemed Committee. Concurrently, we are also publishing our response to the European Parliament’s resolution on our previous Annual Report. These elements – our Annual Report, today’s discussion and our response to your resolution – are central to the ECB’s accountability to the European Parliament and highlight the open dialogue between our institutions.

    In my remarks today, I will discuss the economic and financial stability landscape and consider the challenges that lie ahead. I will share the ECB’s assessment and underline the need to invest in measures to enhance Europe’s resilience amid a volatile external environment and an uncertain outlook.

    Economic developments and monetary policy

    As highlighted in the Annual Report, economic activity in the euro area began to recover gradually in 2024. Incoming data suggest modest growth in the first quarter of 2025. However, risks have intensified amid exceptional uncertainty, largely related to trade. Euro area exporters are now facing new barriers, and tensions in financial markets and geopolitical uncertainty will likely weigh on business investment. In this environment, consumers may become cautious about the future and hold back spending.

    In the medium term, a resilient labour market, higher real incomes and the impact of our monetary policy easing should support spending. Moreover, recent policy initiatives focused on defence spending and infrastructure investment at both national and EU levels are expected to positively affect activity and strengthen long-term growth.

    Turning to inflation, headline figures fell further towards the ECB’s 2% target in 2024, supported by our then restrictive monetary policy. Looking ahead, inflation is expected to hover around our target. However, global trade disruptions are adding uncertainty to the inflation outlook. Declining energy prices, further wage moderation and a stronger euro could dampen inflation, potentially amplified by weaker demand for euro area exports and a re-routing of other countries’ exports into the euro area. Conversely, a fragmentation of global supply chains could raise import prices and hence inflation.

    Following a period of holding interest rates steady in early 2024, the ECB started reducing its key interest rates in June. So far, we have lowered the rate on the deposit facility by 175 basis points to 2.25%, in view of the disinflation process being well on track. We are determined to ensure that inflation stabilises sustainably at our 2% medium-term target. Especially given current uncertainty, we will continue to follow a data-dependent and meeting-by-meeting approach to setting the appropriate monetary policy stance, and we are not pre-committing to a particular rate path.

    Maintaining financial stability

    Let me also say a few words on financial stability in the light of recent developments.

    The recent trade policy upheaval has triggered the most significant financial market turmoil since the pandemic. While euro area banks’ valuations have also been affected, their fundamentals remain robust and they are well positioned to withstand potential shocks thanks to their sizeable capital and liquidity buffers.

    But despite the resilience of our financial sector, these developments warrant careful monitoring. Sharp adjustments in financial markets could become disorderly, particularly if they are amplified by the growing size and influence of non-bank financial institutions. In addition, trade conflicts could pose challenges for both households and corporates, translating into rising credit risk for banks and non-banks alike. Finally, a combination of weaker growth and heightened spending needs could increase pressures on government finances.

    To ensure our banking system remains resilient in this environment, we need a regulatory framework that is fit for purpose. Decisive action is required to move us closer to completing the banking union. This includes an effective crisis management and deposit insurance framework that extends to small and medium-sized banks, and progress on a European deposit insurance scheme. The recent financial market turmoil also highlights that non-banks must be subject to robust rules, and that gaps in the regulatory framework need to be closed so they are not treated differently to regular banks.

    The ECB supports efforts to simplify the regulatory framework. However, this should not be confused with deregulation. The resilience of our financial system can largely be attributed to the rules established since the global financial crisis. Financial stability is a global public good – it is in everybody’s interest and must remain the long-term goal.

    Europe’s future policy priorities

    A strong and resilient financial sector will also play a crucial role – alongside the public sector – in financing Europe’s key policy priorities as we confront a series of generational challenges.

    The defence investments foreseen in the EU will have an impact on national public finances. By spending jointly through EU-level initiatives, we can achieve greater scale, reduce costs and strengthen our strategic autonomy – all while supporting long-term growth and fiscal sustainability.

    In addition to the pressing security challenges, investing in the green transition and digital innovation remains vital to boosting Europe’s competitiveness and closing the productivity gap with our global peers.

    Finally, the evolving global landscape underscores the need to strengthen trade within the EU’s Single Market, as emphasised by the European Commission.[1] A more integrated and deeper Single Market is essential if we are to achieve the scale required for European firms to thrive and expand, thereby enhancing our resilience against external shocks. We also need to ensure that innovative firms can access the financing they need in order to grow. In this context, completing the savings and investment union is both urgent and essential.

    Conclusion

    Faced with a complex and uncertain landscape, the ECB remains firmly committed to its primary mandate of maintaining price stability. This is the most important contribution we can make towards fostering a strong and prosperous Europe.

    I know that both our institutions are united by our commitment to serve the people of Europe, within our respective mandates. Our dialogue today is testament to this.

    I now look forward to your questions.

    MIL OSI Economics –

  • MIL-OSI USA: ICE Eagle Pass, federal partner investigation results in the sentencing of a Del Rio man to 24 years for drug trafficking

    Source: US Immigration and Customs Enforcement

    DEL RIO, Texas — A southwestern man was sentenced April 22 in federal court to one count of conspiracy to possess with intent to distribute methamphetamine into the United States following a joint investigation conducted by U.S. Immigration and Customs Enforcement and the Drug Enforcement Administration.

    Leonardo Estrada, 41, will serve the next 288 months in prison. He pleaded guilty May 22, 2023.

    “Today’s sentencing highlights the serious consequences for those who traffic in methamphetamine, a drug that wreaks havoc on individuals and communities alike. HSI remains steadfast in its mission to disrupt drug trafficking networks and prevent the spread of methamphetamine across the country,” said ICE Homeland Security Investigations San Antonio Special Agent in Charge Craig Larrabee.

    According to court documents, Estrada approached a U.S. Border Patrol checkpoint on Highway 277 near Eagle Pass, Feb. 15, 2023. During inspection, a K-9 alerted agents to the driver’s side of Estrada’s vehicle near the pedals. A further search revealed two plastic bundles wrapped in clear plastic tape concealed underneath the carpet behind the gas and brake pedals. The contents of one of the bundles tested positive for 790 grams of methamphetamine, while the other tested positive for marijuana. Estrada admitted to being involved in drug trafficking since 2021.

    Estrada was arrested at the checkpoint on Feb. 15, 2023.

    Assistant U.S. Attorney Warsame Galaydh for the Western District of Texas prosecuted the case.

    MIL OSI USA News –

  • MIL-OSI Security: Smiths Settlement — RCMP arrests man for assaulting fishery officer

    Source: Royal Canadian Mounted Police

    RCMP Halifax Regional Detachment has arrested a man for assaulting a fishery officer in the lawful execution of their duties in Smiths Settlement.

    On April 26, at approximately 5 a.m., RCMP officers responded to a report of an assault near Hwy 7. RCMP officers learned that Fisheries and Oceans Canada (DFO) was attempting to conduct an inspection at Eel Pond when a man driving an Acura TL collided with a uniformed fishery officer who was on foot and instructing the driver to stop.

    The fishery officer was not injured.

    The 36-year-old driver from Sipekne’katik was safely arrested at the scene by RCMP officers. During a search of the vehicle, an extendable baton and drug paraphernalia were seized.

    The man was later released. He’s scheduled to appear in Dartmouth Provincial Court on August 20, at 9:30 a.m., to face a charge of Assault with a Weapon.

    A second man who was present at the time of the incident was arrested by DFO in relation to a Fisheries Act investigation and later released.

    File #: 25-57781

    MIL Security OSI –

  • MIL-OSI: Secret Benefits Review [2025] Is SecretBenefits.com the Best Sugar Daddy Site?

    Source: GlobeNewswire (MIL-OSI)

    New York City, April 28, 2025 (GLOBE NEWSWIRE) — Secret Benefits is a popular sugar daddy website that connects wealthy benefactors with attractive, goal-driven partners. Known for its user-friendly design, privacy features, and verified profiles, SecretBenefits.com makes sugar dating simple and secure in 2025.

    SecretBenefits continues to offer a safe and respectful environment for everyone who is navigating the sugar dating landscape. The platform has mutual benefits for both the sugar babies and sugar daddies. With upgraded features and security measures that promote the authenticity and trust of its users, Secret Benefits has shattered all the doubts about whether it is a sugar dating website or just a scam. 

    ⇒ Why Wait? Join The Best Sugar Dating Site for Free!

    SecretBenefits.com is praised for its transparent and flexible credit system, real people verified profiles, and a login process that’s easy, fast, and reliable, and with the Secret Benefits app coming soon, mobile convenience is also going to become an integral part of this sugar dating website.

    These announcements follow months of monitoring and analyzing the causes of common sugar dating scams and frauds, followed by proactive safety measures that help the users of Secret Benefits avoid sugar daddy scams. As this method of modern dating gains traction, Secret Benefits offers real users, real profiles, and real boundaries, making it the only platform you can trust for your sugar dating experience. 

    ⇒  Sign Up on Secret Benefits – Discreet & Secure

    Why SecretBenefits.com Is a Secure and Trustworthy Sugar Dating Site in 2025

    Secret Benefits creates a trusted network between individuals who want to build meaningful and mutually beneficial sugar-dating relationships. 

    However, since the sugar dating landscape is heavily dependent on online platforms, it is often plagued by scams, fake profiles, and unclear intentions, and one of the reasons behind them is scam websites. SecretBenefits.com stands out as a 100% reliable and transparent platform for those individuals who want to engage in sugar dating.

    This 2025 report marks a turning point for the sugar dating niche.

    With SecretBenefits, users can now benefit from its safe and secure features, such as enhanced identity verification protocols, search filters, and a modern user dashboard that makes this website very easy to use.

    ⇒  Join Secret Benefits Today and Start Connecting

    Let’s break down what makes Secret Benefits the top most reliable sugar dating site in 2025.

    1. Transparent and Flexible Credit System

    A flexible credit system allows users of Secret Benefits to have complete freedom in tailoring their sugar dating course in a way they wish. It is very different from traditional subscription-based models that charge recurring fees. SecretBenefits.com accommodates the wants and needs of sugar daddies and sugar babies by offering a credit-based system. This allows users to pay only for the features they use, providing more freedom and control.

    The Key Benefits of the Flexible Credit System Are:

    • No monthly subscriptions – alter your profile as you progress in time
    • No hidden costs – spend only when you initiate a conversation
    • Transparent usage – the credit activity will be tracked very clearly in your account

    The flexible credit system is an attractive feature for users who are tired of overpriced dating websites and their memberships.

    2. Real People, Verified Profiles

    One of the best features of SecretBenefits.com that makes it a legit and secure sugar dating website, as emphasized in its 2025 report, is that it has 100% verified profiles. Secret Benefits has implemented multiple layers of security and is moving towards a multi-step verification process for users, merging simple verification methods like email checks and phones with photo validation and biometric matching. All of these measures solidify the authenticity of Secret Benefits and ensure that users are real people seeking genuine sugar relationships and arrangements.

    The Secret Benefits verification tools include:

    • Photo validation processes
    • Manually approved profiles
    • In-house monitoring team to review reported users

    By verifying both the identities of sugar daddies and sugar babies, Secret Benefits ensures that only real and verified users are allowed to join.

    Users feel safe knowing that Secret Benefits will keep fraudsters off the app, creating a trustworthy platform for the sugar dating community.

    ⇒ Start Your Sugar Dating Journey on Secret Benefits

    3. SecretBenefits Login: Easy, Fast, and Secure

    Logging into SecretBenefits.com is as simple as it is secure. 

    The login credentials used by Secret Benefits identifies each profile separately, such as by username and password. These enable users to verify their identity if they want to log in to their online accounts.

    New users can sign up within minutes, and returning members enjoy the security of their accounts and passwords from multi-device compatibility and smart authentication layers. Secret Benefits is an online platform that includes the personal data of the sugar dating community, which is why there is a dire need for secure login credentials.

    Digital profiles exist for sugar babies as well as sugar daddies, and they hold sensitive information like their names, date of birth, mailing addresses, email addresses, and banking details.

    Secret Benefits offers an easy, fast, and secure login experience via:

    • Two-factor authentication
    • Password reset protocols
    • Secure browsing with HTTPS encryption

    SecretBenefits.com protects all of its accounts with a streamlined interface so that logging in, exploring profiles, and communicating is as enjoyable as it is secure.

    4. Design and User Interface: Sleek and User-Centric 

    SecretBenefits.com’s new design update in 2025 has made the site even more modern. User-centric design is very important as it directly influences the credibility and reliability of the sugar dating website. Websites that prioritize user needs create a platform that is not just intuitive but also functional.

    So, whether you’re accessing SecretBenefits.com from a desktop or mobile, the interface will always appear to be responsive and clean. SecretBenefits places its users at the center of its website design and development. By combining strategic processes, Secret Benefits ensures that the users never feel overwhelmed and that every design element, from the dashboard to the profile grid and messaging features, is optimized for their ease of use.

    ⇒  Find a Mutually Beneficial Relationship with Secret Benefits

    5. Secret Benefits App: Coming Soon

    While Secret Benefits is fully accessible via a mobile browser and offers a better reach with its website, it is also a versatile platform. Those members of the sugar dating community who want personalized experiences will benefit from the mobile app that will help them customize their experience as per their needs. 

    However, it has been confirmed in the 2025 report that a Secret Benefits App is in the development phase and expected to launch later this year.

    The features that you can expect from the SecretBenefits.com app are:

    • Swipe-style browsing
    • Push notifications for messages
    • Integrated video calling
    • Biometric login support

    This highly anticipated app will work even faster than the website and perform actions quicker than the website SecretBenefits.com. It is expected to improve on-the-go connectivity and convenience for both sugar daddies and sugar babies.

    ⇒ Join Thousands Using Secret Benefits for Sugar Dating

    User Reviews: What SecretBenefits Members Are Saying in 2025

    Secret Benefits reviews have continuously shown a strong satisfaction rate from sugar babies and sugar daddies. Here are some testimonials received by SecretsBenefits in 2025:

    “I had high expectations from the beginning. Joined SecretBenefits in January 2025 and I wasn’t surprised to see how real most of the profiles are. I connected with someone in less two weeks!” – Rebecca from Atlanta.

    “I travel very often, and one platform isn’t enough to connect with sugar dating community members from all over the world. But that’s not the case with SecretBenefits.com! It gives me amazing access to people all over the world and it is also reliable and safe.” – Sarah from Los Angeles.

    “Compared to other sites I’ve used, SecretBenefits.com is worth every credit. You really do meet real sugar daddies here.” – Claire from Chicago.

    Of course, every website has occasional critiques, and SecretBenefits.com was no exception.

    Some users noted that the regional availability was limited and that there were delays in customer support. However, SecretBenefits has promptly addressed all of these issues in its new report, and hence, all the users of the sugar community are now promised more efficient responses and a better and more modern user experience. SecretBenefits.com is also expanding its reach into new markets to add versatility and more features to the website for the sugar dating community.

    ⇒ Explore Verified Sugar Daddy Matches on Secret Benefits

    Is SecretBenefits.com a Trustworthy Sugar Dating Website or a Scam? 

    After reading about the countless sugar daddy scams that revolve around Instagram, Snapchat, and other platforms on the internet, it’s natural to wonder if you can ever actually find a real sugar daddy online, and if so, where?

    There is only one answer to that: secretbenefits.com!

    SecretBenefits.com has eradicated all the possibilities of sketchy DMs from strangers on social media, thus bypassing fake sugar daddies and protecting its users from their scams. SecretBenefits.com is a legitimate and dedicated sugar dating platform that builds genuine connections between consenting adults. The reason why SecretBenefits.com is such an authentic and reliable website in the sugar dating world is that it clearly outlines terms of use, ensures profile verification, and reinforces messaging systems built into the platform to provide a safer, much more reliable, and structured environment, which is very much professional and different as compared to random apps or messaging platforms.

    So, is SecretBenefits.com a scam? Absolutely not!

    It’s a trusted website used by thousands of real sugar babies and sugar daddies who want a transparent approach to mutually beneficial relationships.

    ⇒ Meet Real Sugar Daddies and Babies on Secret Benefits

    What Makes SecretBenefits Different from Sugar Daddy Scams?

    Secretbenefits.com never lets its users wander to third-party apps to communicate. The website encourages communication through its internal messaging system, thus reducing the need to switch to WhatsApp or Telegram. This is because these messaging apps are often a breeding ground for scammers in the sugar dating world. SecretBenefits.com also has a photo verification process, which helps you steer clear of catfishers who commonly use stock photos or stolen identities, just like they do on social media platforms.

    Most importantly, secretbenefits applies the same rules of discrimination on itself just like it does with the rest of the users. SecretBenefits.com will never ask for your banking information, nor will it facilitate payments between users. If someone on the site is asking you for money, you must immediately block and report them, as SecretBenefits.com has all the mechanisms necessary to deal with such cases promptly.

    ⇒ Get Instant Access to Secret Benefits – Sign Up Free

    Real Users. Real Profiles. Real Boundaries.

    Another reason why so many users in the sugar dating world rely on SecretBenefits.com is that the entire platform is built on boundaries and mutual respect. 

    Sugar dating isn’t for everyone, but SecretBenefits.com makes this kind of relationship easier, even for amateurs. Those who join secret benefits are very clear about what they’re seeking, and the platforms allow them to showcase their needs and requirements on their own terms. This reduces confusion and friction between the users and cuts through the awkward small talk.

    Sugar babies can boost their profiles with detailed bios, preference filters, and a safe and secure management system that gives them the power to initiate conversations without any threat of scams or phishing. Sugar daddies, on the other hand, also benefit from a respectful environment where they can find companions who will have as much value for authenticity as they have.

    ⇒ Unlock Exclusive Connections on Secret Benefits

    Can You Trust SecretBenefits?

    Yes. SecretBenefits.com is a 100% trustworthy sugar dating website.

    If you’re serious about sugar dating, SecretBenefits.com is one of the safest places to start. 

    It is true that no platform can eliminate scams and risk 100%. However, SecretBenefits.com has taken multiple steps to eliminate the risks of fraud or scams and to build a reputable community.

    Still doubtful? Explore secretbenefits.com yourself. It is easy to get started. Just create a free profile, browse anonymously, and take your time navigating the safe and secure environment of sugar dating.

    SecretBenefits.com Demographics and User Insights

    Secret Benefits has achieved significant growth in both user base and engagement rates. According to internal analytics released in the report, 70% of users created profiles as sugar babies, 30% created profiles as sugar daddies, and every month, there are 17 000 000 visits per month, and over 2 million messages are exchanged monthly.

    The reason why SecretBenefits.com is growing at such an appreciable rate is because it is a safe and simple platform that brings authenticity and reliability to the sugar dating experience.

    ⇒ Browse Verified Profiles on Secret Benefits Now

    Secret Benefits Login, Support, and Help Desk

    If you ever face login problems, SecretBenefits offers fast support. The help desk now operates 24/7. So whenever you have any password resets, account recovery, or profile visibility concerns, reach out to the team, and your concerns will be addressed within hours.

    The most common login-related concerns that users of SecretBenefits.com face include the following:

    • Forgotten password retrieval
    • Email verification delays
    • Account review/approval timelines.

    However, the website platform and user experience have been dramatically improved, and in 2025, the login support at SecretBenefits.com will be more straightforward than ever.

    ⇒ Create Your Free Secret Benefits Profile Now

    How SecretBenefits.com Works

    Secret Benefits connects sugar daddies and sugar babies via a safe, secure, user-friendly platform. Both sugar daddies and sugar babies can explore each other’s profiles. The platform operates as a credit-based platform and is available throughout the US, UK, Australia, and Canada. Here is how to get started;

    1. Sign up by verifying your email.
    2. Create a profile and upload your photos.
    3. If you are a sugar daddy, purchase credits ($0.29-0.59 each) to unlock messaging and photo features.
    4. After that you can initiate conversations and enjoy other features using credits.
    5. Chat, set expectations, and meet IRL if both parties are comfortable.

    ⇒ Message Attractive Members on Secret Benefits Today

    How SecretBenefits.com Protects Your Privacy

    In 2025, online privacy is more important than ever. But it is compromised in more than one way in the sugar dating world when scammers enter the field.

    Secret Benefits has adopted many high-standard privacy practices that eradicate any chances of scams or fraud and guarantee complete protection to its online sugar dating users. Here is what is included in the privacy practices.

    • No public display of sensitive information
    • Users can choose what images are shown (public vs. private galleries)
    • Location-hiding features are available
    • No third-party data sharing.

    Is SecretBenefits.com Legit in 2025?

    Yes. Secret Benefits is a real sugar dating website that has millions of users worldwide. It is 100% legit and authentic.

    According to recent reviews and user feedback, Secret Benefits has come out to be a safe and reliable online platform where sugar daddies and sugar babies chat and get to know each other. After the initial conversation takes place and they are both comfortable with each other’s company, both parties can meet in real life based on mutual consent and respect.

    ⇒ Find a Successful Partner on Secret Benefits

    Final Thoughts: Is SecretBenefits Worth It in 2025?

    The 2025 report solidifies the fact that SecretBenefits.com is the most premium and trustworthy sugar dating platform. Its credit system is fair. Its user base trusts the platform 100%. And its security features are top-tier and foolproof.

    For anyone looking to explore sugar dating in a safe and secure environment, SecretBenefits is the best place to start.

    Media Contact

    Company: Secret Benefits

    Email: support@secretbenefits.com

    Address: 3711 Taylor Street, New York, NY 10011

    URL: https:/secretbenefits.com

    Phone: +1 9146236465

    Content Accuracy Disclaimer
    Every effort has been made to ensure the accuracy of the information presented in this article. However, due to the dynamic nature of product formulations, promotions, and availability, details may change without notice. The publisher makes no warranties or representations as to the current completeness or accuracy of any content, including product claims, pricing, or ingredient lists.
    It is the responsibility of the reader to verify product information directly through the official website or manufacturer prior to making a purchasing decision. Any reliance placed on the information in this article is done strictly at your own risk.
    Affiliate Disclosure
    This article may contain affiliate links. If you purchase a product or service through these links, the publisher may earn a commission at no additional cost to you. These commissions help support the creation of in-depth reviews and educational wellness content.
    The publisher only promotes products that have been independently evaluated and deemed potentially beneficial to readers. However, this compensation may influence the content, topics, or products discussed in this article. The views and opinions expressed are those of the author and do not necessarily reflect the official policy or position of any affiliate partner or product provider.
    All product reviews and descriptions reflect the author’s honest opinion based on available public data, user feedback, and scientific references at the time of writing. The inclusion of affiliate links does not influence the objectivity or integrity of the content. However, readers are encouraged to independently verify product information and consult with healthcare professionals prior to purchase or use.
    No warranties, either expressed or implied, are made about the completeness, accuracy, reliability, or suitability of the content provided. The publisher and all affiliated parties expressly disclaim any and all liability arising directly or indirectly from the use of any information contained herein.
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