Category: Transport

  • MIL-OSI Global: Mexico’s Day of the Dead celebrations blend Indigenous customs and European thinking in surprising ways

    Source: The Conversation – USA – By Ezekiel Stear, Assistant Professor of Spanish World Languages, Literatures & Cultures, Auburn University

    In Mexico City, parades on Day of the Dead feature people in colorful costumes. FG Trade Latin/Collection E+ via Getty Images

    Every year, five hours west of Mexico City on Lake Pátzcuaro in Michoacán, residents flock to the island of Janitzio to visit the graves of their departed relatives.

    On the evening of Nov. 1, the Noche de animas, or Night of the Souls in Purgatory, families will bring a meal to share with their ancestors. They will also use the time to clean the graves and decorate them with elaborate displays of candles and marigolds. Some will spend the night sleeping among the tombstones.

    In Mexico City, parades will feature people in colorful customs with large skull masks while skull-shaped floats move through the streets to the rhythm of Aztec drums. Marigolds, skull-painted faces and swishing skirts will fill the downtown from the main square of the Zócalo to Bellas Artes, the Palace of Fine Arts.

    This vibrant scene reflects the blending of Indigenous, European and specifically Mexican customs that define Day of the Dead celebrations today.

    As a scholar of colonial Mexico, I study how Indigenous people have maintained their traditions despite the Spanish invasion. Whereas scholars once thought that these cultures simply blended – a phenomenon called syncretism – researchers today understand more about how Indigenous people intentionally deliberated about which of their own traditions to continue, and how.

    Celebrations for the dead had an important place in Indigenous cultures before the Spanish came. But, as historian James Lockhart explained, the Spanish, in their attempts to impose their religion and customs, often did not recognize what was most important to local cultures. As long as Indigenous celebrations for the dead did not contradict Spanish preaching, they could go unnoticed.

    Indigenous choices

    The immediate effects of the Spanish invasion brought hard choices for Indigenous people. Most of the Indigenous deaths of the conquest came not by the sword, but by epidemic diseases such as smallpox and salmonella, for which the native population had no natural immunity. In the 16th century, whole towns depopulated, and people needed to decide where they would go to find the best opportunities.

    After the Spanish came, around Lake Pátzcuaro, displaced families suffering the effects of European illnesses and the deaths of family members moved to cities and towns. On the shores of the lake and on the island of Janitzio, they continued their customs of sharing harvest produce with the dead.

    Setting aside time to care for the tombs of the dead became a yearly observance during the colonial period. After independence from Spain in 1821, a series of state decrees in Michoacán even encouraged residents to honor the war heroes buried on Janitzio.

    Since the island had already been sacred for hundreds of years, it was a logical site for the veneration of the new heroes of Mexican independence. So, patriotism strengthened the Indigenous tradition of honoring the dead, which was already underway.

    How Indigenous practices survived

    In Mexico City, colonial policies also ironically allowed Indigenous practices to survive. Before the Spanish came, the Aztecs displayed thousands of skulls of sacrificial victims on a skull rack, called the tzompantli.

    In their view, the vital energy released from sacrificed bodies fed the Sun and ensured that the universe continued.

    Aztec ritual human sacrifice.
    Via Wikimedia Commons

    The Aztecs honored many of their sacrificial victims before these rituals with days of feasting, fine clothes, luxury lodging and other pleasures. Each year, during the festival of Miccailhuitontli, the “little feast of the dead” in the ninth month of the Aztec calendar, children were ritually killed. In the tenth month, it was the adults who were sacrificed during the festival of Huey Miccailhuitl, “great feast of the dead.”

    Although Spanish military invaders suppressed these celebrations, they also unintentionally gave the newly colonized Aztecs ways to combine their beliefs with Christian celebrations.

    Franciscans and other religious orders who followed brought the medieval rituals of religious theater and processions as part of their efforts to convert the local people. Both of these highly public medieval practices gathered large numbers of spectators, as Aztec rituals had done before the invasion.

    The Indigenous actors in these plays, themselves recent converts, portrayed pageants during Christmas, Holy Week and other observances.

    While the friars did not plan to draw on Indigenous beliefs, these religious plays had parallels with the preconquest Aztec practice of deity impersonation. For example, before the Spanish came, in the festival of Toxcatl the Aztecs would dress up a specially chosen prisoner as their deity of divination Tezcatlipoca. The impersonator danced and paraded through the city on his way to be sacrificed atop the main temple.

    When Catholic religious theater came to the city, local actors continued to take on the persona they represented to such a degree that one local actor even hanged himself after portraying Judas in a Passion play.

    During the long colonial period, from the 16th to the 18th century, religious processions became a mainstay in the city. Historian Susan Schroeder recounts the chronicles of the Indigenous writer Domingo Chimalpahin about multiple processions as a source of Indigenous communities’ civic pride.

    Over time, taking cues from the “mascaradas” – the large, papier-mâché heads of Spanish processions and festivals – Day of the Dead began featuring enormous, colorful skulls parading through the streets, just feet away from where the Aztecs once displayed human skulls.

    Beyond graves

    Besides the usually cited All Saints’ Day and All Souls’ Day on Nov. 1 and 2, more covert European elements have influenced Day of the Dead practices. One of these is the belief in the soul and an afterlife. Historian Jill McKeever Furst explains that in the Aztec view, only death in battle or during childbirth earned immortality.

    Most people went to Mictlan, the Land of the Dead, releasing their vital energy into the universe and ceasing to exist as individuals. Today, depictions of the living interacting with the dead, singing to or talking with them, such as in the movie “Coco,” likely reflect adapted ideas about the afterlife from Christianity, as cultural critic Anise Strong has noted.

    European influences have also shaped home altars with their seven or nine levels, representing layers of underworld, Earth and paradise. Research has revealed that many Indigenous communities in what is now Mexico viewed the universe as flat and placed Mictlan far away from the living, rather than below the Earth.

    Historians Jesper Nielsen and Toke Reunert have noted that it is likely that Indigenous images of the universe as made of three realms, with a reward in the sky, Earth in the middle, and the world of the dead below, come from Dante’s “Divine Comedy”. Dante’s literature depicts the universe in a vertical fashion – from the heights of heaven, through purgatory, Earth and with abysmal hell at the bottom.

    As local people converted, they left horizontal views of the universe and moved toward a positive up and a negative down. The vertical cosmos contrasts with ancestral Indigenous views of the universe as a plane where humans and supernatural beings interacted.

    People gather on the island of Janitzio, Mexico, to clean the graves of their deceased loved ones, decorate them with marigolds and bring baskets with offerings for the Day of the Dead in Mexico.
    Gerardo Vieyra/NurPhoto via Getty Images

    Celebrations continue

    The island of Janitzio on Lake Pátzcuaro and Mexico City show how Indigenous choices helped their traditions survive despite Spanish influence. In the city of Pátzcuaro, sharing food with the dead during harvests continued alongside All Saints’ Day and All Souls’ Day. Meanwhile, in Mexico City, the history of public ritual sacrifice gave way to the religious pageantry of Spain’s Renaissance.

    Today, individuals and groups continue to decide how to celebrate the Day of the Dead. Whether it’s about communicating with the dead, letting go, or believing they remain among the living, the holiday’s strength lies in its ability to hold many meanings.

    As long as Indigenous, Spanish and modern Mexican customs continue in home rituals and public celebrations of past lives, current lives and cultural heritage, the Day of the Dead will be alive and well.

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

    ref. Mexico’s Day of the Dead celebrations blend Indigenous customs and European thinking in surprising ways – https://theconversation.com/mexicos-day-of-the-dead-celebrations-blend-indigenous-customs-and-european-thinking-in-surprising-ways-240619

    MIL OSI – Global Reports

  • MIL-OSI USA: Kennedy in The Hill: Biden admin threatens safety of key military base to appease UN activists

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)

    MADISONVILLE, La. – Sen. John Kennedy (R-La.) penned this op-ed in The Hill questioning the Biden-Harris administration’s decision to allow the United Kingdom to cede sovereignty of the Chagos Islands to Mauritius. Kennedy argued that this deal jeopardizes the safety of a key base on the island of Diego Garcia and benefits the Chinese Communist Party. 

    Key excerpts of the op-ed are below:

    “The importance of the base at Diego Garcia cannot be overstated. Diego Garcia is one of the only bases in the world where our military can reload submarines. The base also houses several Navy ships and long-range bomber aircraft that we use to carry out missions around the world. These key missions have made it a top target of Chinese Communist Party spies.

    “Today, we know our assets on Diego Garcia are secure because the Chagos Islands are a British territory. The United Kingdom controls the island of Diego Garcia and the surrounding water to protect our shared missions.

    “Our secure arrangement, however, just imploded. The United Kingdom announced that it will turn over control of the Chagos Islands to the island nation of Mauritius.”

    . . .

    “This decision wasn’t about righting the wrongs that the United Kingdom supposedly committed against the people of Chagos, though. Chagossians consider themselves an indigenous people. The Chagos Islands and Mauritius—which are more than 1,200 miles apart—speak different versions of Creole and have no shared pre-colonial historic ties. They are, for all practical purposes, strangers.”

    . . .

    “President Biden and Vice President Harris either truly believe that the government of Mauritius has the ability and the courage to stand up to China to ensure the security of Diego Garcia, or they withheld their objections to avoid being criticized by woke United Nations activists if they stood up for the American people’s best interests.”

    . . .

    “The American people deserve to know why President Biden and Vice President Harris allowed this irreversible deal to move forward. Congress must hold the Biden-Harris administration accountable for this short-sighted and dangerous decision. 

    “So, I repeat: Why? Why put American interests at risk? Why help the Chinese Communist Party?”

    Read Kennedy’s full op-ed here.  

    MIL OSI USA News

  • MIL-OSI Canada: The Government of Canada invests in a clean economy for Nova Scotia

    Source: Government of Canada News (2)

    News release

    October 25, 2024      Cape Breton, Nova Scotia        Transport Canada

    In Canada, the transportation sector is the second largest source of greenhouse gas (GHG) emissions. The Government of Canada is working to reduce these emissions through initiatives like the creation of green shipping corridors.

    Today, the Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament of Cape Breton—Canso, Mike Kelloway, on behalf of the President of the Treasury Board and Minister of Transport, the Honourable Anita Anand, announced up to $22.5 million for EverWind Fuels. This funding, provided under the Green Shipping Corridor Program, will allow them to:

    • purchase a loading arm to fuel and fill ships with green ammonia;
    • build a pipeline to transport green ammonia from the production facility to the transport terminal; and
    • buy three tugboats and improve the dock to help move and load ships safely.

    Investments through the Green Shipping Corridor Program decarbonize the marine sector and encourage ports to adopt clean energy, while preparing them to support exports of clean fuels like ammonia.

    Reducing emissions from all modes of transportation is a key part of the Government of Canada’s plan to fight climate change. Smart climate investments like this are good for Canadian workers, good for the Canadian economy, and good for the planet. A clean transportation sector will create good, well-paying jobs for Canadians and strengthen the middle-class.

    Quotes

    “As we continue to face the growing challenges of climate change, it’s crucial that we take bold steps to reduce emissions and protect our environment. This investment in EverWind Fuels is a key part of our strategy to build a cleaner, more sustainable future for Canada’s economy.”

    The Honourable Anita Anand
    President of the Treasury Board and Minister of Transport

    “Today’s announcement highlights the Government of Canada’s ongoing commitment to reduce emissions and tackle climate change. By investing in innovative solutions at our ports, we are not only tackling climate change but also ensuring that Canada remains a leader in clean transportation. This is good news for Nova Scotians, and good news for Canadians.”

    Mike Kelloway
    Parliamentary Secretary to the Minister of Fisheries, Oceans, and the Canadian Coast Guard, and Member of Parliament for Cape Breton—Canso

    Quick facts

    • The Green Shipping Corridor Program provides funding for projects that contribute to the establishment of green shipping corridors and the decarbonization of the marine sector along the Great Lakes, the St. Lawrence Seaway, as well as Canada’s East and West Coasts. The program:

      • removes barriers to the adoption of emission reducing equipment and infrastructure;
      • incentivizes industry-led partnerships and investments to accelerate the adoption of greenhouse gas emission-reduction technologies and infrastructure;
      • decreases the risks of investments made to increase the technology-readiness level of low carbon and zero-emission ship technology and marine fuels for the domestic vessel fleet; and
      • builds capacity among Canadian vessel owner/operators with respect to their ability to identify, plan and implement next generation low carbon and zero-emission ship technology and marine fuels into their vessel operations.

    Associated links

    Contacts

    Laurent de Casanove
    Press Secretary
    Office of the Honourable Anita Anand
    Minister of Transport, Ottawa
    laurent.decasanove@tc.gc.ca

    Media Relations
    Transport Canada, Ottawa
    media@tc.gc.ca
    613-993-0055

    MIL OSI Canada News

  • MIL-OSI Canada: Federal government invests nearly $350,000 in active transportation in the Outaouais region

    Source: Government of Canada News (2)

    News release

    Chelsea, Quebec, October 25, 2024 — Outaouais residents will have access to safer active transportation options thanks to an investment of nearly $350,000 from the federal government to support nine active transportation planning and awareness projects led by MOBI-O, the Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue.

    Announced by MP for Pontiac Sophie Chatel, Mayor of Gatineau Maude Marquis-Bissonnette, Mayor of Chelsea Pierre Guénard and Mayor of Cantley David Gomes, these projects will benefit the Outaouais people by increasing the safety and accessibility of active transportation in the region.

    An investment of nearly $250,000 will enable the development of school travel plans for nine schools:

    • One high school in the City of Gatineau (Polyvalente Nicolas-Gatineau);
    • Two elementary schools in the Centre de services scolaires au Cœur-des-Vallées;
    • Five elementary schools and one high school in the Centre de services scolaires des Haut-Bois-de-l’Outaouais.

    The development of a local transportation plan for the municipalities of Chelsea and Cantley and the deployment of the “Going to school on foot or by bike, I can do it!” campaign for schools in the Centre de services scolaires des Haut-Bois-de-l’Outaouais and the La Pêche territory are also planned.

    Today’s investment will also be used to organize an awareness campaign to promote active transportation by bicycle on the City of Gatineau’s territory and to identify strategic locations in Gatineau for the future installation of bicycle parking facilities and repair stations (bicibornes). These projects will go a step further in meeting the current needs of Gatineau’s cyclists, while increasing the use of bicycles for utilitarian and recreational purposes.

    This investment contributes to Canada’s National Active Transportation Strategy by supporting planning and awareness activities. These activities help promote the benefits of active transportation and increase opportunities for Canadians to use it. It’s a big step towards healthier living and building resilient communities, making a better-connected Canada for us all.

    Quotes

    “Strategic investments in active transportation foster inclusive and sustainable communities. Today’s announcement will help communities in the Outaouais region put in place safe and accessible active transportation options to enable residents to walk or bike to access schools and easily get around important areas of their communities.”

    Sophie Chatel, Member of Parliament for Pontiac, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

    “Thanks to this investment by the federal government and the work of MOBI-O, Gatineau will benefit directly from initiatives that meet the growing need to improve the safety and accessibility of active transportation within its region. These projects are a perfect reflection of our commitment to sustainable mobility while contributing to the quality of life of Gatineau residents.”

    Maude Marquis-Bissonnette, Mayor of Gatineau

    “We are delighted with the collaboration with MOBI-O and the federal financial support for the development of a local travel plan in Chelsea. This project aims to improve safety and access for residents, especially children, to the elementary school and village. Thanks to this joint commitment, we will be putting in place appropriate, sustainable infrastructures to ensure safe travel, while promoting active mobility. This plan represents an essential investment in the well-being of our community and the safety of future generations.”

    Pierre Guénard, Mayor of Chelsea

    “Active transportation is essential in Cantley and we are very pleased to be part of this joint initiative that promotes safe travel for all our citizens on our beautiful territory.”

    David Gomes, Mayor of Cantley

    “MOBI-O is proud to have obtained this funding, which represents a significant step forward for sustainable mobility in the Outaouais region. Thanks to these fundings and our valuable partnerships with municipalities and school service centres, we are able to support communities in implementing concrete solutions to encourage active mobility. These initiatives will help improve the quality of life of all citizens, while strengthening equity, health and sustainable development in our region.”

    Émilie Rachiele-Tremblay, Assistant Executive Director of MOBI-O

    Quick facts

    • The federal government is investing $348,938 in these projects through the Active Transportation Fund (ATF). MOBI-O is contributing $10,000 with $212,000 coming from other contributors.

    • Active transportation refers to the movement of people or goods powered by human activity. It includes walking, cycling and the use of human-powered or hybrid mobility aids such as wheelchairs, scooters, e-bikes, rollerblades, snowshoes, cross-country skis, and more.

    • In support of Canada’s National Active Transportation Strategy, the Active Transportation Fund is providing $400 million over five years, starting in 2021, to make travel by active transportation easier, safer, more convenient, and more enjoyable.

    • The National Active Transportation Strategy is the country’s first coast-to-coast-to-coast strategic approach for promoting active transportation and its benefits. The strategy’s aim is to make data-driven and evidence-based investments to build new and expanded active transportation networks, while supporting equitable, healthy, active, and sustainable travel options.

    • Investing in active transportation infrastructure provides many tangible benefits, such as creating good middle-class jobs, strengthening the economy, promoting healthier lifestyles, ensuring everyone has access to the same services and opportunities, cutting air and noise pollution, and reducing greenhouse gas emissions. 

    • The new Canada Public Transit Fund (CPTF) will provide an average of $3 billion a year of permanent funding to respond to local transit needs by enhancing integrated planning, improving access to public transit and active transportation, and supporting the development of more affordable, sustainable, and inclusive communities. 

    • The CPTF supports transit and active transportation investments in three streams: Metro Region Agreements, Baseline Funding, and Targeted Funding.

    • We are currently accepting Expression of Interest submissions for Metro-Region Agreements and Baseline Funding. Visit the Housing, Infrastructure and Communities Canada website for more information.

    Related products

    Associated links

    Contacts

    For more information (media only), please contact:

    Sofia Ouslis
    Press Secretary
    Office of the Minister of Housing, Infrastructure and Communities
    Sofia.ouslis@infc.gc.ca

    Media Relations
    Housing, Infrastructure and Communities Canada
    613-960-9251
    Toll free: 1-877-250-7154
    Email: media-medias@infc.gc.ca
    Follow us on XFacebookInstagram and LinkedIn
    Web: Housing, Infrastructure and Communities Canada

    Émilie Rachiele-Tremblay
    Assistant Executive Director
    MOBI-O
    819-205-2085, ext. 104
    emilie.rachiele@mobi-o.ca

    Laurent Lavallée
    Communications Director
    City of Gatineau
    613-606-7242
    lavalle.laurent@gatineau.ca

    Ghislaine Grenier
    Interim Communications Officer
    Municipality of Chelsea
    819-827-1124, ext. 202
    g.grenier@chelsea.ca

    Johanne Albert-Cardinal
    Communications Officer
    Municipality of Cantley
    819-827-3434, ext. 6838
    communications@cantley.ca

    MIL OSI Canada News

  • MIL-OSI: Correction: Invesco Ltd: Form 8.3 – DS Smith PLC; Public dealing disclosure

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Invesco Ltd.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
       
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree
    Smith (DS) plc  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure
    24.10.2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”
    Yes, International Paper Company  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 10p Ordinary GB0008220112  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 5,959,851 0.43      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 5,959,851 0.43      
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

     
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

     
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    10p Ordinary GB0008220112 Sale 86 4.78 GBP  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
            
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
    (b) Agreements, arrangements, or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
     
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 25.10.2024  
    Contact name Philippa Holmes  
    Telephone number +441491417447  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network

  • MIL-OSI Canada: Backgrounder: Federal government invests nearly $350,000 in active transportation in the Outaouais region

    Source: Government of Canada News

    Backgrounder

    The federal government is investing $348,938 through the Active Transportation Fund to support nine infrastructure projects in the Outaouais region. These projects will increase the safety and accessibility of active transportation in the region, while helping to reduce greenhouse gas emissions and combat climate change.

    Project Information:

    Recipient

    Location

    Project Name

    Project Details

    Funding Stream

    Federal Funding

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    City of Gatineau

    Awareness campaign to promote active transportation by bicycle in Gatineau

    This project aims to encourage recreational cyclists to use bicycles as a means of transportation and educate non-cyclists about the benefits of cycling.

    Active Transportation

    $50,000

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    City of  Gatineau

    Plan for bicycle parking areas and “bicibornes” for the City of Gatineau

    This project aims to identify locations within the City of Gatineau territory where bicycle parking areas and bicibornes can be installed in order to provide cycling facilities that meet the needs of users and increase the use of bicycles for travel purpose.

    Active Transportation

    $49,910

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    City of Gatineau

    Development of a school transportation plan and methodology for a high school in the City of Gatineau

    This project aims to develop a methodology and a school travel plan for the Polyvalente Nicolas-Gatineau in order to make walking and cycling home-to-school safer and more attractive.

    Active Transportation

    $43,183

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    Cœur-des-Vallées School Service Centre

    School travel plans for two elementary schools of the Coeur-des-Vallées School Service Centre

    This project aims to develop school travel plans for Saint-Michel (Montebello) and Adrien-Guillaume (Chénéville) elementary schools in order to make walking and cycling home-to-school safer and more attractive.

    Active Transportation

    $15,318

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    Hauts-Bois-de-l’Outaouais School Service Centre

    Deployment of the “Going to school on foot or by bike, I can do it!” active transportation promotion campaign for the schools of the Centre de services scolaire des Hauts-Bois-de-l’Outaouais

    This campaign promotes active transportation for elementary school students aged 5 to 12.

    Active Transportation

    $49,809

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    Hauts-Bois-de-l’Outaouais School Service Centre

    School travel plans for five elementary schools and one high school of the Hauts-Bois-de-l’Outaouais School Service Centre

    This project aims to develop school travel plans for Poupore (Fort-Coulonge), L’Envolée (Campbell’s Bay),Notre-Dame du Sacré-Cœur (Isles-aux-Allumettes), Sainte-Anne (Île-du-Grand-Calumet) and Sainte-Marie (Otter Lake) elementary schools as well as for Sieur-de-Coulonge (Mansfield-et-Pontefract) high school in order to make walking and cycling home-to-school safer and more attractive.

    Active Transportation

    $38,895

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    Municipality of Cantley

    Development of a local transportation plan for the residents and schools of the Municipality of Cantley

    This project aims to develop active transportation in Cantley by improving, modifying or adding infrastructure and facilities for safety, accessibility and the promotion of active transportation.

    Active Transportation

    $47,495

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    Municipality of Chelsea

    Development of a local transportation plan for the Municipality of Chelsea

    This project aims to develop a local transportation plan for the area around Scott Street in order to develop active transportation in Chelsea.

    Active Transportation

    $40,365

    Centre de gestion des déplacements de l’Outaouais et de l’Abitibi-Témiscamingue

    Municipality of La Pêche

    Deployment of the “Going to school on foot or by bike, I can do it!” active transportation promotion campaign for the schools in La Pêche

    This campaign promotes active transportation for elementary school students aged 5 to 12.

    Active Transportation

    $13,873

    MIL OSI Canada News

  • MIL-OSI USA: Rep. Mike Levin Blasts So-Called “Pro-Choice Republicans” for Refusal to Support Right to Contraception Act

    Source: United States House of Representatives – Congressman Sander Levin (9th District of Michigan)

    October 23, 2024

    San Diego, CA – This week, Rep. Mike Levin (CA-49) reminded San Diego and Orange County residents that Republicans in Congress and others proclaiming to be “pro-choice” are being disingenuous by refusing to support critical legislation like the Right to Contraception Act that would protect access to contraception across the country.

    At a press conference announcing new federal changes that will allow millions of women to have greater access to over-the-counter contraceptives at no-cost, Levin gave a dose of reality to “pro-choice Republicans”: 

    “You cannot be ‘pro-choice’ if you’re fine with an extreme Supreme Court undermining Roe v. Wade. 

    “You cannot be ‘pro-choice’ when you believe all states should have the right to ban all reproductive care. 

    “You cannot be ‘pro-choice’ if you’re okay with 44% of women in this country having their reproductive rights stripped away.”

    For Rep. Levin’s full remarks click here.

    ##

    MIL OSI USA News

  • MIL-OSI Asia-Pac: UPDATE TO COVID-19 VACCINATION RECOMMENDATIONS AND ROLLOUT OF UPDATED JN.1 VACCINES

    Source: Asia Pacific Region 2 – Singapore

    The Ministry of Health (MOH) will roll out the updated JN.1 Pfizer-BioNTech/Comirnaty and JN.1 Moderna/Spikevax vaccines from 28 October 2024. This is based on the 2024/2025 recommendation of the Expert Committee for Immunisation (ECI). The vaccination is especially applicable to individuals at increased risk of severe COVID-19, such as seniors and those who are medically vulnerable. 
    2.      With close to 500 Healthier SG General Practitioner (GP) clinics and 10 polyclinics offering COVID-19 vaccination in the community, the five remaining Joint Testing and Vaccination Centres (JTVCs) will cease operations from 1 December 2024. 
    ECI’s Updated COVID-19 Vaccine Recommendations 
    3.       We are living with COVID-19 as an endemic disease. The severity of COVID-19 infection is low in the healthy general population, given that most of our local population has either taken the vaccine and/or been infected with COVID-19 and recovered safely. 
    4.       Hence the ECI has recommended that individuals at increased risk of severe COVID-19 should receive both the initial (if unvaccinated) and additional doses of the COVID-19 vaccine, as they will benefit most from increased protection with vaccination. The persons recommended for COVID-19 vaccination in 2024/2025 are: 
    a.       Individuals aged 60 years and above; 
    b. Medically vulnerable individuals aged 6 months and above; and  
    c. Residents of aged care facilities.  
    5.       Healthcare workers and persons living or working with medically vulnerable individuals are encouraged to consider receiving the vaccine. Other individuals aged 6 months and above who wish to receive the COVID-19 vaccine can continue to do so.

    6.        Unvaccinated individuals who are receiving COVID-19 vaccination in 2024/2025 should receive: 

    a. Ages 6 months to 4 years: Two vaccine doses, eight weeks apart; and 
    b. Ages 5 years and older: One vaccine dose. 
    7.       The number of initial doses recommended for unvaccinated individuals aged 5 years and above has been reduced from two doses (as previously recommended) to one dose, as most in this population would have some level of protection from past COVID-19 infection. One initial dose is now assessed to be sufficient to ensure an adequate level of protection in unvaccinated persons aged 5 years and above.
    8.       Vaccinated individuals aged 6 months and above who are receiving an additional dose of COVID-19 vaccination in 2024/2025 should receive it at an interval of around one year (and at least five months) from the last vaccine dose. 
    Rollout of Updated JN.1 Pfizer-BioNTech/Comirnaty and Moderna/Spikevax Vaccines 
    9.       The Health Sciences Authority has approved the use of the updated JN.1 Pfizer-BioNTech/Comirnaty and JN.1 Moderna/Spikevax vaccines in Singapore. 
    10.       From 28 October 2024, all vaccination locations offering the Pfizer-BioNTech/Comirnaty and/or Moderna/Spikevax vaccines will begin administering the updated JN.1 vaccines. 
    11.       The updated COVID-19 vaccines provide a stronger immune response against current and emerging strains compared to previous versions of the vaccines, and therefore confer better protection against COVID-19. The safety profiles of the updated vaccines are comparable to that of previous versions.
    Closure of JTVCs from 1 December 2024
    12.       The JTVCs have served us well in offering mass testing and vaccination services during the pandemic. To bring COVID-19 vaccination closer to the community, close to 500 Healthier SG GP clinics and 10 polyclinics located island-wide are now providing COVID-19 vaccination services. In addition, more Healthier SG GP clinics will be onboarded to offer the COVID-19 vaccines.
    13.       With this, the five remaining JTVCs at Bukit Merah, Jurong East, Kaki Bukit, Sengkang and Woodlands will cease operations from 1 December 2024. Individuals who wish to receive their COVID-19 vaccinations at these locations may walk in by 30 November 2024, or visit https://vaccine.gov.sg/covid to book an appointment.
    14.       Mobile vaccination teams offering the COVID-19 vaccines will continue to be deployed across the island. Members of the public can visit https://gowhere.gov.sg/vaccine for the latest schedule. 
    15.       COVID-19 vaccination continues to be free for all eligible individuals under the National Vaccination Programme. Members of the public can visit https://gowhere.gov.sg/vaccine for the nearest vaccination sites and the vaccine types offered. Individuals may book an appointment at a Healthier SG GP clinic through https://vaccine.gov.sg/covid, or at a polyclinic through the HealthHub booking system. 
    16.       COVID-19 waves will continue to occur from time to time and can cause severe disease among those who are older or medically vulnerable. To increase their protection against severe disease, we encourage everyone to remain updated with their vaccination based on the prevailing recommendations, much like vaccination against influenza.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: NASA Stennis Achieves Milestone in Preparation for Future Artemis Testing

    Source: NASA

    NASA’s Stennis Space Center near Bay St. Louis, Mississippi, achieved a key milestone this week for testing a new SLS (Space Launch System) rocket stage to fly on future Artemis missions to the Moon and beyond.
    Over a two-week period beginning Oct. 10, crews completed a safe lift and installation of the interstage simulator component needed for future testing of NASA’s exploration upper stage (EUS) in the B-2 position of the Thad Cochran Test Stand. The component will function like the SLS interstage section that helps protect the upper stage during Artemis launches.
    “NASA Stennis is at the front end of the critical path for future space exploration,” said Barry Robinson, project manager for exploration upper stage Green Run testing on the Thad Cochran Test Stand. “Installing the interstage simulator is a significant step in our preparation to ensure the new, more powerful upper stage is ready to safely fly on future Artemis missions.”

    The EUS unit, built by Boeing at NASA’s Michoud Assembly Facility in New Orleans, which will be the upper stage for the evolved Block 1B version of SLS and will enable NASA to launch its most ambitious deep space missions. The new stage will replace the current interim cryogenic propulsion stage on the Block 1 version of SLS, which features a single engine and is capable of lifting 27 tons of crew and cargo to lunar orbit.
    The new exploration upper stage will be powered by four RL10 engines, manufactured by SLS engines contractor L3Harris. It will increase payload capacity by 40%, enabling NASA to send 38 tons of cargo with a crew to the Moon or 42 tons of cargo without a crew.

    [embedded content]
    In the first two weeks of October 2024, crews at NASA’s Stennis Space Center completed a successful lift and installation of an interstage simulator unit on the B-2 side of the Thad Cochran test Stand. The interstage simulator is a key component for future testing of NASA’s new exploration upper stage that will fly on Artemis missions to the Moon and beyond.

    Before the first flight of the exploration upper stage on the Artemis IV mission, the stage will undergo a series of Green Run tests of its integrated systems at NASA Stennis. The test series will culminate with a hot fire of the stage’s four RL10 engines, just as during an actual mission.
    The simulator component installed on the Thad Cochran Test Stand (B-2) at NASA Stennis weighs 103 tons and measures 31 feet in diameter and 33 feet tall. It will function like the SLS interstage section to protect EUS electrical and propulsion systems during Green Run testing. The top portion of the simulator also will serve as a thrust takeout system to absorb the thrust of the EUS hot fire and transfer it back to the test stand. The four-engine EUS provides more than 97,000 pounds of thrust.

    NASA Stennis crews previously lifted the interstage simulator to measure and align it relative to the test stand. It is now outfitted with all piping, tubing, and electrical systems necessary to support future Green Run testing.
    Installation onto the test stand enables NASA Stennis crews to begin fabricating the mechanical and electrical systems connecting the facility to the simulator. As fabrication of the systems are completed, crews will conduct activation flows to ensure the test stand can operate to meet test requirements.
    Through Artemis, NASA will establish the foundation for long-term scientific exploration at the Moon; land the first woman, first person of color and first international partner astronaut on the lunar surface; and prepare for human expeditions to Mars for the benefit of all.
    For information about NASA’s Stennis Space Center, visit:
    https://www.nasa.gov/stennis

    MIL OSI USA News

  • MIL-OSI USA: Attorney General James Announces Takedown of Major Gun Trafficking Operation in Queens

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James today announced the indictments of three individuals for their roles in a gun trafficking operation that illegally trafficked and sold 184 firearms in Queens County. The 579-count indictment charges Deundre Wright, 22, Abner Sparkes, 31, and Ethan Charles, 22, all of Queens, New York with trafficking and selling numerous assault weapons, semiautomatic pistols, revolvers, high-capacity magazines, and hundreds of rounds of ammunition. An investigation led by the Office of the Attorney General (OAG) recovered 184 firearms from the operation, which transported weapons from Goldsboro, North Carolina to New York City where they were sold. If convicted, the defendants face maximum sentences of 25 years in prison. 

    “The majority of guns used in crimes in New York City are illegally trafficked from other states with lax gun laws along the Iron Pipeline and are fueling deadly gun violence in our communities,” said Attorney General James. “This investigation shut down a major gun trafficking operation that brought a flood of dangerous weapons, including assault weapons, from North Carolina into New York City in the span of just a few months. I will continue to use every tool at my disposal to keep New Yorkers safe and get illegal guns off our streets. I thank our partners in this investigation for their work to stop gun violence.”

    Firearms and ammunition recovered by the investigation

    The takedown was the result of a joint investigation between the Attorney General’s Organized Crime Task Force (OCTF), and the U.S. Drug Enforcement Administration (DEA)’s New York Strikeforce, which includes members of the New York City Police Department (NYPD)’s DEA Firearms Task Force. The investigation included the use of controlled firearms purchase operations and physical, covert video, and electronic surveillance.

    The investigation revealed that from March to July 2024, Deundre Wright was responsible for sourcing firearms in North Carolina and trafficking them to Queens where they were sold. Wright would travel by bus from Chinatown in Manhattan to North Carolina and back, storing the firearms in luggage during the trips. After transporting the guns to New York, Wright stored them at friends’ homes in Jamaica, Queens, including in cars parked at the homes. Wright would set the prices for the firearms ranging from $1,000 to $2,500 per gun, and provide them to Abner Sparkes, who would meet a customer for sales at 115th Road and 222nd Street in Cambria Heights, Queens. Sparkes would meet the customer in a car, conduct the sale, and then bring the cash back to Wright who was parked nearby monitoring the transactions.

    On August 8, 2024, investigators detained Deundre Wright and Ethan Charles in Manhattan while they were exiting a bus carrying suitcases and other luggage. Investigators seized 41 firearms, including four shotguns and an inoperable rocket-propelled grenade launcher in their luggage.

    The rocket-propelled grenade launcher and one of the assault weapons seized by the investigation 

    The indictment — unsealed before Queens County Supreme Court Judge Leigh Cheng — charges the three individuals with multiple crimes, including Criminal Sale of a Firearm in the First Degree, Criminal Possession of a Weapon in the First Degree, and Conspiracy in the Fourth Degree, among other charges, for their participation in the illegal gun trafficking operation. Each of the three individuals have been charged with Criminal Sale of a Firearm in the First Degree and Criminal Possession of a Firearm in the First Degree, which are both class B violent felonies. If convicted of one count of either of these crimes, the defendants face a maximum of 25 years in prison.

    “Often times we see drug and gun violence go hand in hand. The indictments of these three individuals are thanks to the hard work of our DEA Strikeforce, New York’s Attorney General, and our law enforcement partners, when targeting those who pose a threat to our communities through the sale of illegal firearms,” said DEA New York Division Special Agent in Charge Frank Tarentino. “The removal of over 150 firearms, which includes numerous assault weapons and semiautomatic pistols, just made the streets of New York City and our neighborhoods safer. The DEA remains committed to protecting our communities, reducing gun violence, and enhancing public safety.”

    “Today’s charges are a stark reminder that high-powered, illegal firearms continue to proliferate and circulate in our communities, and that NYPD investigators and our law enforcement partners are doing the dangerous work of preventing them from getting into criminals’ hands on the streets,” said NYPD Interim Commissioner Thomas G. Donlon. “Disrupting and dismantling gun trafficking networks is a top priority for our city. I thank everyone at Office of the Attorney General and all of our local, state, and federal partners for their hard work on this important case and for their ongoing commitment to our shared public safety mission.”

    The Office of the Attorney General wishes to thank the members of the DEA New York Strikeforce and the NYPD’s DEA Firearms Task Force Officers. The Office of the Attorney General also wishes to thank the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Queens District Attorney’s Office, the Goldsboro Police Department in North Carolina, the Wayne County Sheriff’s Office, and the North Carolina State Bureau of Investigations for their valuable participation and assistance in this investigation.

    The investigation was led by DEA New York Strikeforce’s Task Force Officer, NYPD Detective Ryan Foy of the NYPD’s DEA Firearms Task Force, under the supervision of NYPD Sergeant Brian O’Hanlon, Captain Jeffrey Heilig, Deputy Chief Carlos Ortiz, and Assistant Chief Jason Savino, under the overall supervision of Chief of Detectives Joseph Kenny. 

    For OAG, the investigation was led by OCTF Detectives Andrew Scala and Bradford Farrell, under the supervision of OCTF Supervising Detective Paul Grzegorski, Assistant Chief Ismael Hernandez, and Deputy Chief Andrew Boss, with special assistance from the detective specialists from the OAG Special Operations Unit, led by Deputy Chief Sean Donovan. The Attorney General’s Investigations Division is led by Chief Oliver Pu-Folkes.

    The case is being prosecuted by OCTF Assistant Deputy Attorney General Ann Lee, under the supervision of Downstate OCTF Deputy Chief Lauren Abinanti with the assistance of OCTF Legal Support Analyst Madeline Rosen. Nicole Keary is the Deputy Attorney General in Charge of OCTF. The Criminal Justice Division is led by Chief Deputy Attorney General José Maldonado. Both the Investigations Division and the Division for Criminal Justice are overseen by First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News

  • MIL-OSI United Kingdom: Bee Network Review now underway in Salford 

    Source: City of Salford

    A ‘network review’ is now underway in Salford aimed at further improving the Bee Network.

    As all Greater Manchester (GM) bus services come under local control by 5 January 2025, network reviews will be an important way to help plan simple, joined up, reliable transport services across Greater Manchester.

    Transport for Greater Manchester (TfGM) and Salford Council will be speaking to local transport committees and forums, communities, businesses and elected members so see what they think of transport in their area – and what improvements they would like to see.

    Alongside Bolton and Wigan, Salford is one of the first area to have a network review – as the first areas to get Bee Network bus services.

    Frequently Asked Questions

    You can see answers to most frequently asked questions about network reviews on this webpage: beenetwork.com/network-reviews

    Bee Network Review now underway in Salford A ‘network review’ is now underway in Salford aimed at further improving the Bee Network.

    As all GM bus services come under local control by 5 January 2025, network reviews will be an important way to help plan simple, joined up, reliable transport services across Greater Manchester.

    Transport for Greater Manchester (TfGM) and Salford City Council will be speaking to local transport committees and forums, communities, businesses and elected members so see what they think of transport in their area – and what improvements they would like to see.

    Alongside Bolton and Wigan, Salford is one of the first area to have a network review – as the first areas to get Bee Network bus services. Find out more about the network review.

    Share this


    Date published
    Friday 25 October 2024

    Press and media enquiries

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Mayor urges public to stay safe at Derry Halloween celebrations

    Source: Northern Ireland – City of Derry

    Mayor urges public to stay safe at Derry Halloween celebrations

    25 October 2024

    As the city’s world renound Halloween celebrations begin in earnest this Monday October 28th, Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi-Barr, has appealed to the public to make safe choices to ensure a safe and happy celebration for everyone.

    The Awakening the Walled City Trail in the city centre will run nightly from 6pm to 9pm from Monday October 28th to Wednesday October 30th

    It is set to draw crowds of up to 25,000 people each night before the climactic carnival parade and fireworks on Thursday 31st October which traditionally attracts over 30,000 people.

    Other attractions include ghastly ghost tours, creepy arts and crafts, spooky story-telling and horrific haunted houses.

    With such large crowds expected, Mayor Barr appealed to everyone to follow the Carnival Care guidance and plan ahead to ensure they get to and from the event safely.

    “All the necessary preparations have been made for record crowds over the coming days but we still need the cooperation of the public to ensure that this is an enjoyable festive experience for everyone,” she said.

    “To cope with the huge influx of people expected in and around our city centre, a number of measures have been introduced to manage the numbers.

    “I would ask people to access the trail maps and to follow all signage.

    “For those travelling to and from the event by car, please familiarise yourself with the traffic and travel advice and consider public transport or active travel to help reduce congestion in and around our city centre.

    “Also please co-operate fully with stewards and the PSNI who will be there to ensure your safety.

    “We all have a responsibility to safeguard those around us and to make sure our behaviour doesn’t put others at risk.”

    Parents are being advised to be extra vigilant when it comes to keeping an eye on children and young people throughout the festival.
    Festival and Events Manager at Council, Jacqueline Whoriskey, issued some further advice to those attending.

    “With such large crowds expected it is a good idea to plan ahead and arrange meeting points if you are out in a group,” she stressed. “Please ensure teenagers have transport home if out with friends, and that mobile phones are charged.

    “Translink will have additional services operating over the weekend and especially on Halloween night to help reduce traffic and parking in the city centre and ensure people get home safely.

    “We can’t wait to have everyone with us, so access all the information on the event website and plan an unforgettable Derry Halloween.”

    Derry Halloween is funded by Derry City and Strabane District Council, Tourism Northern Ireland and The Executive Office, with support from Ulster University and Air Coach.
    Follow all the latest news at derryhalloween.com which includes traffic and travel, carnival care and accessibility advice.

     

    MIL OSI United Kingdom

  • MIL-OSI Russia: Expeditionary corps opened at the State University of Management

    Translation. Region: Russian Federation –

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

    On October 25, 2024, the State University of Management held a ceremonial opening of the student expeditionary corps.

    The official ceremony took place in the lobby of the Information Technology Center. All those present were able to see unique footage of the expeditions conducted by the students of the State University of Management at a photo exhibition, and also watched a video about the first trip.

    The opening ceremony was attended by the rector of the State University of Management Vladimir Stroyev, the acting vice-rector of the State University of Management Nikolay Mikhailov, the vice-rector of the Russian Technical University MIREA Igor Tarasov and the deputy general director of the Presidential Fund for Cultural Initiatives Evgeny Murakhveri. The event was moderated by the head of the expeditionary corps of our university Vladimir Linnik.

    Vladimir Stroyev admitted that the path to opening the corps was long and difficult. The first step in this direction was the project “Beacons of Friendship. Towers of the Caucasus”, which is still being successfully implemented, but has a relatively narrow localization. The expeditionary corps will significantly expand the geography of trips and diversify the areas of activity with environmental, patriotic and charity trips. As an example, the rector cited search expeditions to Sebezh.

    “These works not only contribute to personal development, but also help preserve historical knowledge, are useful for society, especially in today’s situation. On behalf of the university management, I promise the corps comprehensive support and from this moment I propose to consider it open,” said Vladimir Vitalievich.

    Vice-Rector of MIREA Igor Tarasov said that the volunteer expedition movement at his university has been around for 10 years, but previously trips were organized only for its students. And six months ago, the “Arctic Team” was created – a unique in its scale and subject inter-university project based on RTU MIREA. In a relatively short period of its work, 77 expeditions have already been conducted for 1,000 people from 45 universities in Russia. Their participants have visited many regions of Russia, the North Pole and Antarctica, as well as Armenia, Hungary and Kazakhstan. Right now, the ship “Mikhail Somov” is carrying another student expedition along the Northern Sea Route. At the end of his speech, Igor Aleksandrovich thanked several students of the State University of Management by name for their active participation in the activities of the “Arctic Team”.

    Acting Vice-Rector of the State University of Management Nikolay Mikhailov, as a candidate of geographical sciences, has spent more than 10 years of his life on expeditions. At the opening ceremony, he admitted that he loves the mountains most of all and noted that students make a great contribution to the work of scientists, and their participation in the search for the remains of soldiers of the Great Patriotic War is extremely important for the whole society. Nikolay Nikolaevich wished those who have already started going on expeditions to preserve their love for them for the rest of their lives. He admitted that soon the current students will become qualified specialists, managers, will start families and will have less and less time for travel, but at least occasionally it is always nice to go on trips.

    At the level of vice-rectors, Igor Tarasov and Nikolai Mikhailov signed an agreement on cooperation between the student expeditionary corps of GUU and RTU MIREA.

    Deputy Director General of the Presidential Fund for Cultural Initiatives Evgeny Murakhveri noted that any expedition is a combination of business with pleasure, it is teamwork, which also reveals forgotten history and lost elements of culture to society, which is fully consistent with modern state policy, the tasks set by Vladimir Putin, and the direction of the Presidential Fund for Cultural Initiatives. The guest said that in his youth he loved hiking, studied to be a geophysicist and spent an interesting scientific youth on expeditions. On hikes he made friends for life, became interested in rock music, acquired survival skills and worked with various tools, so he highly recommends enrolling in the student corps of the State University of Management – it will be interesting.

    The head of the expedition corps Vladimir Linnik reported that before the opening, our students had managed to participate in 10 expeditions. The plans for 2025 include an archaeological expedition to the village of Khotylyovo in the Bryansk region to the sites of primitive people of the Paleolithic era, as well as to the Valdai Reserve to clean up the eco-trail. If the topic of future expeditions corresponds to the student’s field of study, then participation can be counted as practice. Nikolay Mikhailov, taking advantage of the occasion, presented Vladimir Linnik with a membership card of the Russian Geographical Society, of which he himself has been a member for 52 years.

    Awarded with the Gratitude of the President of the Russian Federation for her search activities, third-year student of the Institute of Search and Rescue Sciences Daria Monul briefly spoke about her four years of experience in expeditions and wished everyone to receive high awards for their favorite work.

    At the end of the ceremony, the expedition participants showed a second video about the expeditions of the GUU students, after which, together with their friends from MIREA, they personally shared their emotions from the trips, talked about their travels and thanked the leadership of the two universities for the opportunities provided.

    Anyone can join the GUU expeditionary corps.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/25/2024

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

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: Speech by DCS at Save the Children Hong Kong’s 15th Anniversary Dinner (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Deputy Secretary for Administration, Mr Cheuk Wing-hing, at Save the Children Hong Kong’s 15th Anniversary Dinner tonight (October 25):Paul (Chairman, Save the Children Hong Kong, Mr Paul Kennedy), Donnie (the Ambassador of Save the Children Hong Kong, Mr Donnie Yen), Cissy (spouse of Mr Donnie Yen, Ms Cissy Wang), distinguished guests, ladies and gentlemen,     Good evening. It is my great pleasure to join you all to celebrate the 15th anniversary of Save the Children Hong Kong.     First, I would like to extend my heartfelt appreciation to Save the Children for its sustained efforts and unwavering dedication in working with children, schools, families and different stakeholders to deliver lasting change for children in Hong Kong and around the world. I am truly impressed that, just last year alone, programmes of Save the Children have benefited over 26 000 Hong Kong children and adults. Save the Children’s vision is a world in which every child attains the right to survival, protection, development and participation. This meaningful and noble cause deserves the wholehearted support of all.     The Government attaches great importance to protecting the best interests of children and firmly believes that every child has a right to protection against harm and abuse. In this regard, the Mandatory Reporting of Child Abuse Ordinance was passed in July this year, requiring professionals in the social welfare, education and healthcare sectors to report serious child abuse case starting from January 20, 2026. During the 18-month transitional period, the Government will focus on preparing for its implementation, ensuring that the various support measures are properly put in place. The new legislation is an important milestone in child protection, as it would create a wide protection web for children and send a strong deterrent to potential perpetrators that their abuse will be easily exposed.     One way to prevent child abuse is to strengthen positive parenting. I am glad to see that Save the Children has been organising the Heart-to-Heart Parent-Child Programme which promotes positive parenting and strengthens parent-child relationships, with 500 children and parents benefitting from the Programme. On the part of the Government, the 2024 Policy Address has just announced that a pilot scheme will be launched to set up four Community Parents and Children Centres, which will commence service from 2026, to promote parent-child interaction and pass on positive parenting skills to parents through play-based services. The Centres will also support the cognitive, language, social and emotional developmental needs of children and refer families or children in need to various government and community services as appropriate.     To promote children’s mental health, the Government has implemented various measures, including extending and enhancing the Three-Tier School-based Emergency Mechanism in all secondary schools; launching the “Mental Health Literacy” resource packages for senior secondary and lower primary students; strengthening teachers’ capacity to early identify and support students with mental health needs; and helping parents acquire the knowledge and skills to better safeguard their children’s mental health. I am pleased that Save the Children shares the same vision with the Government, in providing various mental wellness programmes, such as the “Play to Thrive Programme” and the Integrating Social and Emotional Learning into Schools project. I trust Save the Children will continue to work hand in hand with the Government and different sectors of society to strive for children’s healthy growth and development.     I sincerely hope that everyone in this room will continue to lend their support to children’s issues by actively building cross-sector partnerships. These collaborations are essential for creating a more impactful and sustainable approach to address the challenges faced by children in our community. Together, we can “nurture hearts and strengthen minds” of our children, providing an environment where they feel supported and empowered.     Once again, my congratulations and gratitude to Save the Children for its 15 years of commitment and achievements. I wish Save the Children continuous success and every one of you a wonderful evening.

    MIL OSI Asia Pacific News

  • MIL-OSI Security: NATO tests integration of joint high-end maritime strike capabilities

    Source: NATO

    On 24 October 2024, NATO kicked-off “Neptune Strike 2024.” This enhanced vigilance activity will take place across Europe, from the central Mediterranean and Adriatic up to the North and Baltic Seas and will run until 31 October 2024. During this period, NATO will take operational control of cutting-edge maritime warfare capabilities from numerous Allies, including multiple aircraft carriers and expeditionary strike groups that will be deployed across several operational domains.

    In total, some 20 surface vessels and submarines, along with special operations forces and numerous aircraft, are participating, with around 15.000 supporting personnel. Participating nations to this NATO deployment include Albania, Belgium, Canada, Finland, Germany, Greece, Italy, Lithuania, Netherlands, Norway, Portugal, Romania, Spain, Sweden, Türkiye, the United Kingdom, and the United States, a powerful demonstration of Allies’ ability to work together through NATO to deter and defend.

    Read more from Allied Joint Force Command Brunssum

    Read more from Naval Striking and Support Forces

    MIL Security OSI

  • MIL-OSI: EduEdge Introduces Formula-Style Method, Changing English Mastery for Struggling Students

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Oct. 25, 2024 (GLOBE NEWSWIRE) — EduEdge is proud to announce its Formula-Style method, designed to transform the way struggling students master English. Despite English being Singapore’s first language, many students struggle with deeper aspects of the language, such as comprehension, written expression and critical thinking. This proficiency gap affects not only their English grades but also their performance in other subjects. Research highlights a strong link between English language proficiency and academic achievement in areas like Maths and Science, underscoring the importance of mastering English for well-rounded academic success.

    From left to right: Angela’s mum, brother, EduEdge Founders: Edwin Edangelus Cheng and Rowena May Yue, Angela Ray Oh

    Traditional teaching methods often fall short of helping students achieve true language mastery. As English is the most widely spoken language globally, this lack of holistic proficiency concerns parents who want their children to excel, not just in exams but in life. EduEdge addresses this challenge through a revolutionary approach to English education.

    Pioneered by founder Edwin Edangelus Cheng, EduEdge developed the groundbreaking Formula-Style method, designed to take the guesswork out of English learning. Backed by years of educational research, this structured approach goes beyond exam preparation by equipping students with the critical language skills and deep understanding necessary for lifelong success. By breaking down complex language concepts into easy-to-apply formulas, EduEdge empowers students to excel academically while mastering the communication skills essential for future professional achievements.

    Edwin Edangelus Cheng’s personal journey resonates with many parents and students. “I once was like your child,” Edwin shares, recalling his struggles with English as a student from a Chinese-speaking family. His experience and years as a public school teacher, where he taught both English and Physics, inspired him to find structured methods for language learning.

    “I saw how students approached learning English,” Edwin explains. “They often rely on intuition without the structure or proper articulation needed for true mastery. In Physics, we see results quickly because of its formula and steps. I wondered, could the same formula-style approach work for English?” This question led to the development of EduEdge’s Formula-Style method, offering a more structured and methodical way to teach and learn English.

    What makes the Formula-Style method different is its ability to break down English learning into easy-to-apply and easy-to-remember formulas, similar to Maths and Science. This system, known as the Total English Mastery System (TEMS), helps students learn English in a faster, smarter and more effective way. Over the past 10 years, TEMS has helped more than 3,500 students from over 150 schools across Singapore improve by at least two grades, with many achieving high Bs and As in English and General Paper (GP) exams. Students who started with borderline or failing grades found success by mastering six core language skills—Vocabulary, Grammar, Reading, Writing, Listening and Speaking.

    The impact of the Formula-Style method is shown in the stories of students who have experienced notable success. One such example is Angela Ray Oh, who, like many others, struggled with English during secondary school and was stuck at a C6 grade despite her determination. Her breakthrough came in Sec 4 when her mum enrolled her in EduEdge. After learning structured techniques, Angela’s approach to English transformed, leading her to score an A2 for her O-Levels.

    The benefits of these techniques extended beyond secondary school. While studying at Nanyang Technological University (NTU), Angela was awarded the Lee Kuan Yew (LKY) STEP Award, a highly competitive scholarship. The application process required writing two essays within 48 hours. Drawing on the writing techniques and critical thinking skills she gained at EduEdge, Angela crafted her submissions with confidence and aced both essays and the interview, demonstrating how EduEdge’s method equips students for real-world success.

    This success is no coincidence. EduEdge’s Formula-Style method is powerful, but its true impact is realised through the exceptional educators who bring it to life. The highly qualified and passionate teachers at EduEdge are rigorously selected, ensuring that the method is delivered to its full potential. This combination of structured techniques and top-tier teaching creates a transformative learning experience that drives students’ success.

    Every journey at EduEdge begins with a Diagnostic Consultation Assessment (DCA) involving both parents and students. This personalised session provides a clear and quantifiable understanding of the child’s current abilities and identifies specific areas that need improvement. Many parents believe misconceptions like, “My child speaks English, but their test results aren’t great,” or “My child reads a lot, but the results aren’t improving.” The DCA dispels these misconceptions by pinpointing underlying issues in comprehension, writing or critical thinking. This tailored approach allows EduEdge to develop a plan for effective improvement, ensuring more conducive learning.

    Parental involvement is a key aspect of the EduEdge approach. Regular feedback is provided via email, based on detailed marking of the child’s submitted work. This ensures parents stay up to date on their child’s progress. Post-lesson consultations are also available to address any specific concerns.

    Committed to continuous innovation, EduEdge keeps refining its methods to ensure students receive quality education not just for exams but for lifelong success. As part of its forward-thinking approach, EduEdge is exploring the use of AI and cutting-edge technology to personalise learning for every student further and extend educational support beyond the classroom. These tools will help create a more adaptive learning environment that tracks progress, identifies areas for improvement in real time and provides tailored resources.

    Additionally, EduEdge is expanding its reach with care, ensuring that high teaching quality is never diluted while maintaining accessibility for students and parents. With existing branches in Serangoon and Bukit Timah, EduEdge is set to open a new branch in Marine Parade, further increasing accessibility across Singapore while upholding the high standards that has made it one of the country’s leading English tuition specialists.

    Experience the EduEdge difference today. Book a complimentary 60-minute DCA using the coupon code ELSUCCESS. Give your child, aged 10 to 18 (or Primary 4 to Junior College 2), the personalised support they need to improve their English skills and excel academically.

    Media Contact

    Edwin Edangelus Cheng

    EduEdge English & GP Specialists

    Website: https://eduedge.com.sg/DCA/

    WhatsApp: https://wa.link/q77cvq

    Email: admin@eduedge.com.sg

    The MIL Network

  • MIL-OSI Economics: Meeting the moment: Microsoft’s 2024 Impact Summary

    Source: Microsoft

    Headline: Meeting the moment: Microsoft’s 2024 Impact Summary

    In the past year, we’ve witnessed remarkable examples of how AI can be applied to address some of the world’s most difficult problems—problems that until recently, we accepted as unsolvable either because the scale was too enormous (monitoring the health of the Amazon rainforest) or because getting powerful technology into the hands of everyday people was too expensive (diagnostic tools to detect disease in remote areas).

    But it turns out that when you enable teams of scientists and engineers to develop creative AI-driven solutions designed and implemented with the input of local communities, governments, private companies, and NGOs, the results are astonishingly effective and efficient.

    At Microsoft, we know that AI is going to be the driving, transformative force in the effort to bring education, healthcare, and opportunity to everyone, everywhere. But to realize our mission of empowering every person and every organization on the planet to achieve more in this AI era, we need to bring AI and the infrastructure that supports it to the areas of the world that were left behind in prior industrial revolutions.

    That’s why, in addition to making AI investments in the past year in places like Australia, the UK, Germany, France, and the United States, we also went to Indonesia, Malaysia, Thailand, Kenya, Mexico, and Brazil. We aren’t doing this alone; we are partnering with governments, private companies, and NGOs to build infrastructure that will result in carbon-negative, water positive data centers as well as skilling courses to create meaningful employment.

    None of this works without trust. Our business runs on trust, and it’s earned through an overriding commitment to security built into our products, openness to regulation, and transparency. This report details how we’re living up to our exacting standards in expanding opportunity, building trust, protecting fundamental rights, and advancing sustainability. There’s much more to do, but with AI and the collaborative power of billions of people worldwide, we will continue to tackle tough problems and solve them together.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Cost of hundreds of parking spaces could fall, says council

    Source: City of Canterbury

    The cost of parking in more than 4,000 car park spaces across the district is set to be frozen.

    And the cost of parking in 220 spaces in one Canterbury city centre car park is proposed to fall by a huge 37%.

    In a report to Canterbury City Council’s Cabinet asking for permission to consult on the coming year’s parking charges, tariffs at the following car parks are set to stay the same:

    • all three Park and Ride sites – New Dover Road, Wincheap and Sturry Road
    • at most Band 2 car parks including St Radigunds, Northgate, Longport, Millers Field in Canterbury; Beach Walk, Oyster and Middle Wall in Whitstable; Neptune in Herne Bay; Reculver Towers and Reculver Country Park in Reculver
    • Band 3 car parks including Castle Street Multi-Storey, Holmans Meadow, Station Road West Multi-Storey, Toddlers Cove, Victoria Rec Ground in Canterbury; Cow Lane and Maynard Road in Wincheap; Gladstone Road, Shaftesbury Road and Victoria Street,in Whitstable; William Street, Market Street and Memorial Park in Herne Bay
    • Band 5 car parks including Ocean View, Swalecliffe Avenue and Bishopstone Lane in Herne Bay, Tankerton Road in Tankerton, Reculver Drive in Reculver, Hampton in Hampton, Faversham Road in Seasalter and the Gorrell Valley Nature Reserve

    A space at the Riverside complex will fall from £2.70 an hour to £1.70 with the resident rate or £1.90 without.

    And, after concerns were raised about the increase in the cost of parking in School Lane, Herne, which was imposed last year, the report says the cost of an all-day space should fall from £15 per day to £1.60 on weekdays and £3.20 during the weekend and bank holidays.

    Motorists could also benefit from:

    • the introduction of an annual Park and Ride permit for £50 per month or £600 per year saving motorists money
    • the introduction of a Park and Ride corporate account allowing businesses to encourage their staff to park for just £2.50 per day including free parking at the weekend
    • applying the resident rate to the daily capped charge in Band 3 car parks controlled by ANPR cameras so it will cost a maximum of £13.50 per day. Non residents will pay £15
    • applying the resident rate to the daily capped charge in Band 2 car parks so it will cost a maximum of £18 per day. Non residents will pay a maximum of £20 per day

    Cllr Alex Ricketts, Cabinet Member for Tourism, Transport and Rural Champion, said: “Parking charges are never popular but the income they generate helps to pay for vital frontline services like waste collections or providing temporary accommodation for families that find themselves without a roof over their heads.

    “Feedback from the public has been instrumental in the formation of this set of proposals and, if Cabinet gives its permission to consult, we’re keen to hear everyone’s views before any final decisions are taken early next year.

    “I’d urge people to take a moment to feed into the process. We do listen and adjust charges where we can.

    “I hope our proposal for School Lane is evidence of that.

    “And it is worth noting, we’re still waiting to hear from the new Chancellor how much money she can find for local government so some our assumptions may have to change.”

    The draft Off Street Parking Places Order (OSPPO), which sets council car park tariffs, also proposes:

    • to add 10p an hour to the cost of parking in the council’s Band 1 car parks
    • to move North Lane and Castle Row car parks in Canterbury from Band 2 to Band 1
    • to increase the cost of off-street parking permits by 3%

    Cllr Ricketts said: “Everyone who lives, works and studies in Canterbury knows it is impossible to drive around the city at certain times of the day and how difficult it is to find a space in our most popular car parks.

    “We have to cut the queues and change people’s habits. Park and Ride is key.

    “These proposals are designed to reduce the demand for city centre car parking spaces and persuade people and businesses to use low-cost and convenient alternatives like the Park and Ride scheme.

    “They align with our emerging bus-led transport strategy which is aimed at making alternatives to the car far more attractive to cut congestion, boost air quality and combat climate change.

    “We really do want to hear what people think especially if they have alternative ideas.”

    The banding of the council’s car parks and the resident rate was introduced last year.

    Car parks have been placed in bands with the most popular and convenient in Band 1 and the far less well used in Band 5.

    If you’re a resident of Canterbury, Herne Bay, Whitstable or the rural villages and you have a parking permit account, you can sign up for a resident rate permit in certain car parks.

    You pay 10% less in all ANPR-camera controlled car parks in bands 2 and 3 and 20% less at all Park and Ride sites.

    The Cabinet will decide whether to give permission to consult on the OSPPO at its meeting on Monday 4 November at 7pm in the Guildhall, St Peter’s Place, Canterbury.

    If approved, the consultation will run from Monday 11 November 2024 to Monday 6 January 2025.

    Published: 25 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Draft budget hopes to tackle council’s financial challenges head on

    Source: City of Canterbury

    Coping with ever-rocketing external costs and increasing demands for council services are at the heart of Canterbury City Council’s budget proposals for 2025/2026.

    If nothing else changed, rising prices alone would account for an increase in spending of just over £1m.

    To counter this, the draft budget says it has identified £701,000 in efficiency savings and can shave a further £393,000 because of proposed changes to some service levels.

    Cllr Mike Sole, Canterbury City Council’s Cabinet Member for Finance, said: “It is no secret that councils across the country of all political persuasions are facing a really difficult financial situation. We are no different.

    “And drafting this budget is a touch more challenging than it usually is as we’re waiting to find out how much money the new Chancellor will be able to find for councils which are facing a plethora of challenges.

    “Some of our assumptions could well change for the better.

    “As an administration that is determined to be prudent and careful with council taxpayers’ money, we know we are not able to significantly expand the services that are important to us right now.

    “But we are determined to use advances in technology to help us to work smarter, achieve more and generate extra cash especially when it comes to our property portfolio.

    “Finally, the draft budget promises we will put aside the extra money needed to ensure we cement and build on the legacy of the Levelling Up Fund projects.”

    The draft budget also proposes:

    • the introduction of a cultural grant pot of £30,000 per year to support more events and festivals
    • freezing parking charges for more than 4,000 parking spaces in council-owned car parks including Park and Ride, reducing the cost of parking at the Riverside complex by 37% and reversing last year’s increase in School Lane, Herne
    • the introduction of an annual Park and Ride permit for £50 per month or £600 per year saving motorists money
    • the introduction of a Park and Ride corporate account allowing businesses to encourage their staff to park for just £2.50 per day including free parking at the weekend
    • to convert 20 of Canenco’s larger diesel refuse collection vehicles to run on hydrogenated vegetable oil to help cut emissions and help the environment, at a cost of approximately £20,000 a year
    • a 3% increase in council tax meaning people living in an average Band D property will pay an extra 14p per week
    • saving £58,000 by reducing the number of times the grass is cut in amenity sites, such as parks and playing fields, from 18 times a year to 10 times a year

    If accepted, the draft budget suggests most of the council’s fees and charges should only go up by 3%. The exceptions are:

    • a 20% increase for developers seeking what is known as pre-app advice before putting in a press release
    • a 5% increase for beach hut owners except for those at East Cliff which will be reduced by 14%
    • a 5% increase for people using the council’s slipways for launching jet skis etc

    Leader of the Council, Cllr Alan Baldock, said: “Finding more than £1 million in cost savings after years and years of finding ways to be more efficient is no mean feat and is a real testament to officers and we are incredibly grateful for their hard work.

    “We’re determined to do all we can to spot opportunities to invest in improvements to our services so that we can save money in the future and spend it on the key priorities we were elected to deliver.

    “This really is a listening exercise and we want to hear the views of everyone that lives, works and studies in the district.

    “People have become jaded when it comes to consultations around key but difficult issues.

    “I hope our proposed changes to tariffs in School Lane in Herne show we are more than prepared to listen.”

    The Cabinet will decide whether to give permission to consult on the draft budget at its meeting on Monday 4 November at 7pm in the Guildhall, St Peter’s Place, Canterbury.

    If approved, the consultation will run from Monday 11 November 2024 to Monday 6 January 2025.

    Published: 25 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Temporary closure as Derby Road upgrades continue

    Source: City of Derby

    Upgrades are continuing along Derby Road and Nottingham Road to deliver better transport choices for Derby.

    As part of the next phase of works, Derby Road will be closed twice to allow for kerbing, footway and drainage works, and resurfacing. These closures will be:

    • Between Raynesway/Acorn Way roundabout and Oregon Way. 7am Saturday 26 October to 8pm Sunday 3 November.
    • Between Raynesway/Acorn Way roundabout and Lime Grove. 7am Saturday 16 November to 8pm Sunday 17 November.

    Both closures will be in place 24/7 with no through routes for vehicles. Pedestrian access will be maintained. Traffic will still be able to use the Raynesway Roundabout in other directions.

    During the closures, a signed diversion route will be in place via the A52, Pentagon Island and Nottingham Road for through traffic.

    There will also be local diversion routes in place for the weekend of the 16 and 17 November when the Derby Road/Oregon away junction is closed.

    For bus users, trentbarton are providing a shuttle bus to the city centre. Details can be found on their website.

    The closures have been planned for the half term week and a weekend to minimise disruption and make the most of lighter traffic. This also means school runs and bus services are not affected.

    These works are part of Nottingham and Derby’s Transforming Cities programme, a wider package of works that is creating a more sustainable transport network for the city. 

    For Derby Road and Nottingham Road this means the creation of new active travel provision through improved pedestrian and cycle routes.

    Councillor Nadine Peatfield, Leader of Derby City Council, said:

    Sustainable transport is an essential part of our mission to create a greener, better-connected Derby, and we have embarked on a wide range of schemes to improve infrastructure around the city.

    I’m glad to see work progressing well on both Nottingham and Derby Road, but to allow it to continue some temporary road closures are necessary.

    We know the impact that roadworks can have in busy areas, so we have worked hard with our contractors to reduce the duration of the closures to the half-term week and a weekend to help minimise disruption.

    MIL OSI United Kingdom

  • MIL-OSI Canada: Remarks by the Deputy Prime Minister on measures to help Canadians buy or rent a home

    Source: Government of Canada News

    Remarks by the Deputy Prime Minister on measures to help Canadians buy or own a home

    October 10, 2024 – Scarborough, Ontario

    Check against delivery

    Good afternoon.

    I would first like to acknowledge that we are gathered on the traditional territories of many nations, including the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat Peoples.

    I would like to thank the wonderful family, the wonderful couple who have hosted me here today in their home, Faten Salloum and Samer Ghazi.

    I really want to thank you for your warm welcome. I want to thank you for the contributions you make to Canada every single day and it was really a pleasure for me to see the beautiful home you live in with your three wonderful daughters.

    Faten and Samer used a First Home Savings Account to save up some money to buy their very first home and they also used the Home Buyers’ Plan to withdraw some money from other savings accounts.

    It’s really heartwarming for me to meet a family that is taking advantage of some of the programs we’ve put in place to buy their first home.

    I would like to begin by briefly talking about the Canadian economy. Canada leads the G7 by achieving a soft landing following the COVID recession.

    Inflation eased to 2% in August and Canada’s inflation remained in the Bank of Canada’s target range for eight consecutive months. Canada was the first G7 country to reduce the overnight rate for the first time. Canada was the first G7 country to reduce the policy interest rate for a second time and Canada was the first G7 country to reduce the overnight rate for a third time. 

    The economy is on the right track. This is good news for Canadians, for Canadian families like Faten and Samer’s family. Wages exceeded inflation for 19 consecutive months, and this is significant news because it means that people’s wages, cheques, have more buying power.

    Now I’d like to talk for a moment about the new measures we’ve been putting in place over the past several weeks, including a new measure we announced just a couple of days ago to help even more families buy a home, to help families expand that home.

    We announced 30-year mortgage amortizations, for all first-time home buyers, for families like Samer and Faten’s and for all Canadians buying a newly built home.

    We announced the level for insured mortgages will be increased to $1.5 million and those measures will come into force on December 15th.

    This week we announced some measures we’ve put in place to help families who want to add a secondary suite to their home. This is something I’m excited about because we all know that Canada needs to build more homes faster. We know an important way to do that is to have gentle density in our cities, in our neighbourhoods.

    We put measures in place last year to encourage big developers to build more homes faster, particularly when it comes to purpose-built rentals. There’s a gap in the market and that’s important.

    The measures we announced this week will allow regular Canadian families to expand their homes, make it easier for them to expand their homes.

    We think that sort of gentle density is a good way to allow Canadian families to participate in this great national project of increasing housing supply. So, what have we done?

    We have said if you are building a secondary suite, adding it to your home, whether it’s a basement apartment, a garden suite, laneway housing, you can refinance your mortgage and have a 30-year amortization. You can access up to 90 % of the value of your home including the value added by the secondary suite and in the insured market you will be eligible for these terms for a value of up to $2 million, including the value that the secondary suite adds.

    Those changes are going to be effective January 15th. I know I talked to a lot of Canadian families who are keen to add that space to their home, have a family member be able to live with them. This is going to allow them to do that and more generally add that gentle density, add that supply for all of us.

    We also announced in the budget that if you have an insured mortgage, you do not have to requalify with a new stress test to switch lenders.

    The Office of the Superintendent of Financial Institutions announced recently that if you have an uninsured mortgage and you just want to do a straight switch to a different lender, you do not have to requalify. I want to emphasize those two announcements because together what they mean is if you have a mortgage and it’s coming up for renewal, you do not have to pass a stress test again to switch lenders. It’s important for me because I have talked to a lot of Canadians who are concerned about the mortgage renewal that’s coming up.

    Today you can shop around. You can get the best deal for yourself and your family. I think that is a really valuable benefit.

    We have an ambitious plan to build more homes faster, to get 4 million homes built by 2031. Key elements of that plan are to increase supply. Increasing supply by removing the GST on purpose-built rentals, increasing supply by providing even more concessional financing from CMHC to get those purpose-built rental apartments built.

    Increasing supply by working through our Housing Accelerator Fund with municipalities to get them cut the red tape so it is possible to build more homes faster and increasing supply by looking at the stuff the federal government owns and liberating federal lands. We call it “lazy land”. Let’s liberate that so that it is used to build homes for more Canadian families.

    We’re focused on ensuring that young families like this one are able to buy their first home.

    I want to conclude by emphasizing really good news we have had this week. Rents are coming down in Toronto and in the GTA. In Toronto, the rent for a one-bedroom apartment is down more than 1 per cent month over month and more than 8 per cent year over year. For a two-bedroom apartment it is down 0.8 per cent month over month and 8.2 per cent year over year. We’ve seen reductions in rent month over month and year over year in communities across the GTA. In Mississauga, Oakville, North York, Etobicoke, Burlington and Brampton. I emphasize that because I know that since the COVID recession, things have been hard for Canadians and rent has been a real challenge for a lot of Canadian families. The fact that rents are coming down is good news.

    Thank you for listening. I would one last time like to thank Faten and Samer, congratulate them on their beautiful house and beautiful family, thank them for their warm welcome today. 

    MIL OSI Canada News

  • MIL-OSI: Fentura Financial, Inc. Announces Third Quarter 2024 Earnings (unaudited)

    Source: GlobeNewswire (MIL-OSI)

    Dollars in thousands except per share amounts. Certain items in the prior period financial statements have been reclassified to conform with the September 30, 2024 presentation.

    FENTON, Mich., Oct. 25, 2024 (GLOBE NEWSWIRE) — Fentura Financial, Inc. (OTCQX: FETM) announces quarterly net income results of $867 and $5,637 for the three and nine months ended September 30, 2024, respectively.

    Ronald L. Justice, President and CEO, stated, “We ended the 2024 third quarter with record total assets, deposits, and shareholders’ equity. These results are a testament to the continued hard work of our team members, and the local value we provide our Michigan communities. During the third quarter, we announced a merger with ChoiceOne Financial Services, Inc., pursuant to which ChoiceOne and Fentura will merge in an all-stock transaction. Once completed, the combination will create the third largest publicly traded bank in Michigan with approximately $4.3 billion in consolidated total assets and 56 offices in Western, Central and Southeastern Michigan. We continue to expect to close the transaction in the first quarter of 2025, subject to the satisfaction of customary closing conditions and regulatory approvals.”

    Following is a discussion of our financial performance as of, and for the three and nine months ended September 30, 2024. At the end of this document is a list of abbreviations and acronyms.

    Results of Operations (unaudited)
    The following table outlines our QTD results of operations and provides certain performance measures as of, and for the three months ended:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    INCOME STATEMENT DATA                    
    Interest income   $ 22,194     $ 21,487     $ 21,541     $ 21,033     $ 20,416  
    Interest expense     10,202       9,650       9,315       8,526       7,757  
    Net interest income     11,992       11,837       12,226       12,507       12,659  
    Credit loss expense (reversal)     1,203       796       (43 )     (190 )     (309 )
    Noninterest income     2,210       2,314       2,355       2,145       2,338  
    Noninterest expenses     11,974       10,921       11,166       10,121       10,594  
    Federal income tax expense     158       454       668       937       937  
    Net income   $ 867     $ 1,980     $ 2,790     $ 3,784     $ 3,775  
    PER SHARE                    
    Earnings   $ 0.19     $ 0.44     $ 0.63     $ 0.85     $ 0.85  
    Dividends   $ 0.11     $ 0.11     $ 0.11     $ 0.10     $ 0.10  
    Tangible book value(1)   $ 30.51     $ 29.84     $ 29.38     $ 28.92     $ 27.64  
    Quoted market value                    
    High   $ 40.00     $ 24.39     $ 27.20     $ 27.20     $ 23.74  
    Low   $ 22.16     $ 22.33     $ 24.00     $ 22.26     $ 19.10  
    Close(1)   $ 39.07     $ 22.50     $ 24.40     $ 27.20     $ 23.74  
    PERFORMANCE RATIOS                    
    Return on average assets     0.19 %     0.45 %     0.63 %     0.86 %     0.86 %
    Return on average shareholders’ equity     2.37 %     5.59 %     7.98 %     11.11 %     11.27 %
    Return on average tangible shareholders’ equity     2.54 %     5.98 %     8.55 %     11.94 %     12.14 %
    Efficiency ratio     84.31 %     77.17 %     76.58 %     69.08 %     70.64 %
    Yield on average earning assets (FTE)     5.17 %     5.18 %     5.15 %     5.06 %     4.92 %
    Rate on interest bearing liabilities     3.28 %     3.22 %     3.11 %     2.90 %     2.66 %
    Net interest margin to average earning assets (FTE)     2.80 %     2.85 %     2.92 %     3.01 %     3.05 %
    BALANCE SHEET DATA(1)                    
    Total investment securities   $ 99,724     $ 100,167     $ 103,210     $ 107,615     $ 109,543  
    Gross loans   $ 1,442,389     $ 1,459,929     $ 1,461,465     $ 1,473,471     $ 1,483,720  
    Allowance for credit losses   $ 14,700     $ 15,300     $ 15,300     $ 15,400     $ 15,400  
    Total assets   $ 1,807,370     $ 1,756,629     $ 1,764,629     $ 1,738,952     $ 1,744,939  
    Total deposits   $ 1,470,586     $ 1,427,059     $ 1,438,408     $ 1,394,182     $ 1,401,797  
    Borrowed funds   $ 179,970     $ 178,397     $ 178,500     $ 198,500     $ 201,050  
    Total shareholders’ equity   $ 146,398     $ 143,301     $ 141,074     $ 138,702     $ 132,902  
    Net loans to total deposits     97.08 %     101.23 %     100.54 %     104.58 %     104.75 %
    Common shares outstanding     4,495,005       4,490,087       4,484,447       4,470,871       4,466,221  
    QTD BALANCE SHEET AVERAGES                    
    Total assets   $ 1,797,307     $ 1,762,651     $ 1,771,614     $ 1,740,526     $ 1,739,510  
    Earning assets   $ 1,708,177     $ 1,669,862     $ 1,683,708     $ 1,649,091     $ 1,646,848  
    Interest bearing liabilities   $ 1,237,665     $ 1,204,370     $ 1,205,162     $ 1,165,064     $ 1,156,835  
    Total shareholders’ equity   $ 145,240     $ 142,577     $ 140,574     $ 135,157     $ 132,860  
    Total tangible shareholders’ equity   $ 135,959     $ 133,252     $ 131,204     $ 125,723     $ 123,349  
    Earned common shares outstanding     4,466,951       4,461,580       4,449,376       4,443,463       4,437,415  
    Unvested stock grants     26,500       26,500       31,821       26,018       26,668  
    Total common shares outstanding     4,493,451       4,488,080       4,481,197       4,469,481       4,464,083  
    ASSET QUALITY                    
    Nonperforming loans to gross loans (1)     0.71 %     0.66 %     0.39 %     0.38 %     0.24 %
    Nonperforming assets to total assets (1)     0.58 %     0.56 %     0.34 %     0.35 %     0.23 %
    Allowance for credit losses to gross loans (1)     1.02 %     1.05 %     1.05 %     1.05 %     1.04 %
    Net charge-offs (recoveries) to QTD average gross loans     0.12 %     0.05 %     %   (0.01)%   (0.03)%
    Credit loss expense (reversal) to QTD average gross loans     0.08 %     0.05 %     %   (0.01)%   (0.02)%
    CAPITAL RATIOS(1)                    
    Total capital to risk weighted assets     12.48 %     12.38 %     12.27 %     11.91 %     11.59 %
    Tier 1 capital to risk weighted assets     11.42 %     11.28 %     11.17 %     10.82 %     10.51 %
    CET1 capital to risk weighted assets     10.40 %     10.28 %     10.17 %     9.83 %     9.53 %
    Tier 1 leverage ratio     8.78 %     8.92 %     8.78 %     8.77 %     8.58 %
                         
    (1)At end of period                    

    The following table outlines our YTD results of operations and provides certain performance measures as of, and for the nine months ended (unaudited):

        9/30/2024   9/30/2023   9/30/2022   9/30/2021   9/30/2020
    INCOME STATEMENT DATA                    
    Interest income   $ 65,222     $ 58,648     $ 41,438     $ 35,161     $ 34,355  
    Interest expense     29,167       19,561       3,122       2,091       4,952  
    Net interest income     36,055       39,087       38,316       33,070       29,403  
    Credit loss expense (reversal)     1,956       132       2,258       (218 )     4,652  
    Noninterest income     6,879       7,126       7,997       11,092       15,190  
    Noninterest expenses     34,061       32,547       30,870       27,815       23,939  
    Federal income tax expense     1,280       2,689       2,616       3,328       3,271  
    Net income   $ 5,637     $ 10,845     $ 10,569     $ 13,237     $ 12,731  
    PER SHARE                    
    Earnings   $ 1.26     $ 2.45     $ 2.39     $ 2.86     $ 2.73  
    Dividends   $ 0.33     $ 0.3     $ 0.27     $ 0.24     $ 0.225  
    Tangible book value(1)   $ 30.51     $ 27.64     $ 25.22     $ 26.53     $ 23.50  
    Quoted market value                    
    High   $ 40.00     $ 24.10     $ 29.25     $ 27.40     $ 26.00  
    Low   $ 22.16     $ 18.70     $ 23.00     $ 21.90     $ 12.55  
    Close(1)   $ 39.07     $ 23.74     $ 23.00     $ 25.75     $ 16.93  
    PERFORMANCE RATIOS                    
    Return on average assets     0.42 %     0.85 %     0.95 %     1.36 %     1.45 %
    Return on average shareholders’ equity     5.27 %     11.15 %     11.71 %     14.55 %     15.79 %
    Return on average tangible shareholders’ equity     5.64 %     12.03 %     12.75 %     15.00 %     16.40 %
    Efficiency ratio     79.33 %     70.43 %     66.66 %     62.98 %     53.68 %
    Yield on average earning assets (FTE)     5.17 %     4.84 %     3.99 %     3.83 %     4.12 %
    Rate on interest bearing liabilities     3.20 %     2.35 %     0.49 %     0.37 %     0.93 %
    Net interest margin to average earning assets (FTE)     2.86 %     3.23 %     3.69 %     3.60 %     3.52 %
    BALANCE SHEET DATA(1)                    
    Total investment securities   $ 99,724     $ 109,543     $ 129,886     $ 138,476     $ 78,179  
    Gross loans   $ 1,442,389     $ 1,483,720     $ 1,350,851     $ 1,015,177     $ 1,060,885  
    Allowance for credit losses   $ 14,700     $ 15,400     $ 12,200     $ 10,500     $ 10,100  
    Total assets   $ 1,807,370     $ 1,744,939     $ 1,588,592     $ 1,329,300     $ 1,284,845  
    Total deposits   $ 1,470,586     $ 1,401,797     $ 1,345,209     $ 1,144,291     $ 1,061,470  
    Borrowed funds   $ 179,970     $ 201,050     $ 116,600     $ 50,000     $ 96,217  
    Total shareholders’ equity   $ 146,398     $ 132,902     $ 121,630     $ 124,809     $ 114,081  
    Net loans to total deposits     97.08 %     104.75 %     99.51 %     87.80 %     98.99 %
    Common shares outstanding     4,495,005       4,466,221       4,434,937       4,569,935       4,691,142  
    YTD BALANCE SHEET AVERAGES                    
    Total assets   $ 1,777,188     $ 1,710,941     $ 1,485,489     $ 1,297,657     $ 1,171,415  
    Earning assets   $ 1,687,249     $ 1,620,015     $ 1,391,179     $ 1,230,553     $ 1,116,861  
    Interest bearing liabilities   $ 1,215,731     $ 1,111,687     $ 858,600     $ 748,472     $ 711,449  
    Total shareholders’ equity   $ 142,796     $ 130,068     $ 120,704     $ 121,659     $ 107,711  
    Total tangible shareholders’ equity   $ 133,470     $ 120,482     $ 110,792     $ 117,991     $ 103,712  
    Earned common shares outstanding     4,459,303       4,428,963       4,425,818       4,630,709       4,665,951  
    Unvested stock grants     28,274       28,530       25,462       21,088       13,966  
    Total common shares outstanding     4,487,577       4,457,493       4,451,280       4,651,797       4,679,917  
    ASSET QUALITY                    
    Nonperforming loans to gross loans (1)     0.71 %     0.24 %     0.12 %     0.82 %     0.07 %
    Nonperforming assets to total assets (1)     0.58 %     0.23 %     0.12 %     0.63 %     0.06 %
    Allowance for credit losses to gross loans (1)     1.02 %     1.04 %     0.90 %     1.03 %     0.95 %
    Net charge-offs (recoveries) to YTD average gross loans     0.18 %   (0.03)%     0.05 %     0.02 %     0.03 %
    Credit loss expense (reversal) to YTD average gross loans     0.13 %     0.01 %     0.19 %   (0.02)%     0.44 %
    CAPITAL RATIOS(1)                    
    Total capital to risk weighted assets     12.48 %     11.59 %     10.96 %     13.63 %     15.57 %
    Tier 1 capital to risk weighted assets     11.42 %     10.51 %     10.07 %     12.64 %     14.40 %
    CET1 capital to risk weighted assets     10.40 %     9.53 %     9.04 %     11.33 %     12.77 %
    Tier 1 leverage ratio     8.78 %     8.58 %     8.91 %     10.21 %     9.86 %
                         
    (1)At end of period                    

    Income Statement Breakdown and Analysis

        Quarter to Date
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net income   $ 867     $ 1,980     $ 2,790     $ 3,784     $ 3,775  
    Acquisition related items (net of tax)                    
    Other acquisition related expenses     753                          
    Amortization of core deposit intangibles     35       34       36       60       60  
    Total acquisition related items (net of tax)     788       34       36       60       60  
    Other nonrecurring items (net of tax)                    
    Proxy contest related expenses                              
    Prepayment penalties collected     (24 )     (40 )     (58 )     (85 )     (29 )
    Total other nonrecurring items (net of tax)     (24 )     (40 )     (58 )     (85 )     (29 )
    Adjusted net income from operations   $ 1,631     $ 1,974     $ 2,768     $ 3,759     $ 3,806  
                         
    Net interest income   $ 11,992     $ 11,837     $ 12,226     $ 12,507     $ 12,659  
    Prepayment penalties collected     (31 )     (51 )     (73 )     (107 )     (37 )
    Adjusted net interest income   $ 11,961     $ 11,786     $ 12,153     $ 12,400     $ 12,622  
                         
    PERFORMANCE RATIOS                    
    Based on adjusted net income from operations                    
    Earnings per share   $ 0.37     $ 0.44     $ 0.62     $ 0.85     $ 0.86  
    Return on average assets     0.36 %     0.45 %     0.63 %     0.86 %     0.87 %
    Return on average shareholders’ equity     4.47 %     5.57 %     7.92 %     11.03 %     11.37 %
    Return on average tangible shareholders’ equity     4.77 %     5.96 %     8.49 %     11.86 %     12.24 %
    Efficiency ratio     77.45 %     77.15 %     76.65 %     69.06 %     70.31 %
                         
    Based on adjusted net interest income                    
    Yield on average earning assets (FTE)     5.16 %     5.17 %     5.13 %     5.03 %     4.91 %
    Rate on interest bearing liabilities     3.28 %     3.22 %     3.11 %     2.90 %     2.66 %
    Net interest margin to average earning assets (FTE)     2.79 %     2.84 %     2.90 %     2.98 %     3.04 %
                         
        Year to Date September 30   Variance
          2024       2023     Amount   %
    Net income   $ 5,637     $ 10,845     $ (5,208 )   (48.02)%
    Acquisition related items (net of tax)                
    Other acquisition related expenses     753             753     N/M
    Amortization of core deposit intangibles     105       180       (75 )   (41.67)%
    Total acquisition related items (net of tax)     858       180       678     376.67 %
    Other nonrecurring items (net of tax)                
    Proxy contest related expenses           413       (413 )   (100.00)%
    Prepayment penalties collected     (122 )     (133 )     11     (8.27)%
    Total other nonrecurring items (net of tax)     (122 )     280       (402 )   (143.57)%
    Adjusted net income from operations   $ 6,373     $ 11,305     $ (4,932 )   (43.63)%
                     
    Net interest income   $ 36,055     $ 39,087     $ (3,032 )   (7.76)%
    Prepayment penalties collected     (155 )     (169 )     14     (8.28)%
    Adjusted net interest income   $ 35,900     $ 38,918     $ (3,018 )   (7.75)%
                     
    PERFORMANCE RATIOS                
    Based on adjusted net income from operations                
    Earnings per share   $ 1.43     $ 2.55     $ (1.12 )   (43.92)%
    Return on average assets     0.48 %     0.88 %       (0.40)%
    Return on average shareholders’ equity     5.96 %     11.62 %       (5.66)%
    Return on average tangible shareholders’ equity     6.38 %     12.55 %       (6.17)%
    Efficiency ratio     77.08 %     69.06 %       8.02 %
                     
    Based on adjusted net interest income                
    Yield on average earning assets (FTE)     5.16 %     4.83 %       0.33 %
    Rate on interest bearing liabilities     3.20 %     2.35 %       0.85 %
    Net interest margin to average earning assets (FTE)     2.85 %     3.22 %       (0.37)%
                     

    Average Balances, Interest Rate, and Net Interest Income

    The following tables present the daily average amount outstanding for each major category of interest earning assets, nonearning assets, interest bearing liabilities, and noninterest bearing liabilities. These tables also present an analysis of interest income and interest expense for the periods indicated. All interest income is reported on a FTE basis using a federal income tax rate of 21%. Loans in nonaccrual status, for the purpose of the following computations, are included in the average loan balances.

    Net interest income is the amount by which interest income on earning assets exceeds the interest expenses on interest bearing liabilities. Net interest income, which includes loan fees, is influenced by changes in the balance and mix of assets and liabilities and market interest rates. We exert some control over these factors; however, FRB monetary policy and competition have a significant impact. For analytical purposes, net interest income is adjusted to a FTE basis by adding the income tax savings from interest on tax exempt loans, and nontaxable investment securities, thus making period-to-period comparisons more meaningful.

        Three Months Ended
        September 30, 2024   June 30, 2024   September 30, 2023
        Average Balance   Tax Equivalent Interest   Average Yield / Rate   Average Balance   Tax Equivalent Interest   Average Yield / Rate   Average Balance   Tax Equivalent Interest   Average Yield / Rate
    Interest earning assets                                    
    Total loans   $ 1,450,371     $ 19,599   5.38 %   $ 1,462,362     $ 19,550   5.38 %   $ 1,477,343     $ 19,170   5.15 %
    Taxable investment securities     89,175       335   1.49 %     89,751       350   1.57 %     101,549       397   1.55 %
    Nontaxable investment securities     10,580       57   2.14 %     11,059       62   2.25 %     12,670       70   2.19 %
    Interest earning cash and cash equivalents     148,872       2,023   5.41 %     97,511       1,331   5.49 %     43,865       594   5.37 %
    Federal Home Loan Bank stock     9,179       192   8.32 %     9,179       207   9.07 %     11,421       199   6.91 %
    Total earning assets     1,708,177       22,206   5.17 %     1,669,862       21,500   5.18 %     1,646,848       20,430   4.92 %
                                         
    Nonearning assets                                    
    Allowance for credit losses     (15,282 )             (15,300 )             (15,503 )        
    Premises and equipment, net     13,514               13,964               15,210          
    Accrued income and other assets     90,898               94,125               92,955          
    Total assets   $ 1,797,307             $ 1,762,651             $ 1,739,510          
                                         
    Interest bearing liabilities                                    
    Interest bearing demand deposits   $ 460,256     $ 4,054   3.50 %   $ 429,141     $ 3,745   3.51 %   $ 416,500     $ 3,230   3.08 %
    Savings deposits     261,620       416   0.63 %     266,731       408   0.62 %     290,939       429   0.59 %
    Time deposits     336,570       3,865   4.57 %     330,024       3,756   4.58 %     248,389       2,280   3.64 %
    Borrowed funds     179,219       1,867   4.14 %     178,474       1,741   3.92 %     201,007       1,818   3.59 %
    Total interest bearing liabilities     1,237,665       10,202   3.28 %     1,204,370       9,650   3.22 %     1,156,835       7,757   2.66 %
                                         
    Noninterest bearing liabilities                                    
    Noninterest bearing deposits     402,274               405,985               435,398          
    Accrued interest and other liabilities     12,128               9,719               14,417          
    Shareholders’ equity     145,240               142,577               132,860          
    Total liabilities and shareholders’ equity   $ 1,797,307             $ 1,762,651             $ 1,739,510          
    Net interest income (FTE)       $ 12,004           $ 11,850           $ 12,673    
    Net interest margin to earning assets (FTE)           2.80 %           2.85 %           3.05 %
                                         
        Nine Months Ended
        September 30, 2024   September 30, 2023
        Average Balance   Tax Equivalent Interest   Average Yield / Rate   Average Balance   Tax Equivalent Interest   Average Yield / Rate
    Interest earning assets                        
    Total loans   $ 1,461,289     $ 58,758   5.37 %   $ 1,464,959     $ 55,749   5.09 %
    Taxable investment securities     91,041       1,044   1.53 %     106,158       1,250   1.57 %
    Nontaxable investment securities     11,200       186   2.22 %     13,403       227   2.26 %
    Interest earning cash and cash equivalents     114,540       4,673   5.45 %     24,484       955   5.21 %
    Federal Home Loan Bank stock     9,179       600   8.73 %     11,011       515   6.25 %
    Total earning assets     1,687,249       65,261   5.17 %     1,620,015       58,696   4.84 %
                             
    Nonearning assets                        
    Allowance for credit losses     (15,328 )             (15,290 )        
    Premises and equipment, net     13,957               15,342          
    Accrued income and other assets     91,310               90,874          
    Total assets   $ 1,777,188             $ 1,710,941          
                             
    Interest bearing liabilities                        
    Interest bearing demand deposits   $ 436,997     $ 11,358   3.47 %   $ 385,316     $ 7,927   2.75 %
    Savings deposits     266,883       1,237   0.62 %     312,762       1,336   0.57 %
    Time deposits     331,113       11,265   4.54 %     196,838       4,595   3.12 %
    Borrowed funds     180,738       5,307   3.92 %     216,771       5,703   3.52 %
    Total interest bearing liabilities     1,215,731       29,167   3.20 %     1,111,687       19,561   2.35 %
                             
    Noninterest bearing liabilities                        
    Noninterest bearing deposits     408,449               455,069          
    Accrued interest and other liabilities     10,212               14,117          
    Shareholders’ equity     142,796               130,068          
    Total liabilities and shareholders’ equity   $ 1,777,188             $ 1,710,941          
    Net interest income (FTE)       $ 36,094           $ 39,135    
    Net interest margin to earning assets (FTE)           2.86 %           3.23 %
                             

    Volume and Rate Variance Analysis

    The following table sets forth the effect of volume and rate changes on interest income and expense for the periods indicated. For the purpose of this table, changes in interest due to volume and rate were determined as follows:

    Volume – change in volume multiplied by the previous period’s rate.
    Rate – change in the FTE rate multiplied by the previous period’s volume.

    The change in interest due to both volume and rate has been allocated to volume and rate changes in proportion to the relationship of the absolute dollar amounts of the change in each.

        Three Months Ended   Three Months Ended   Nine Months Ended
        September 30, 2024   September 30, 2024   September 30, 2024
        Compared To   Compared To   Compared To
        June 30, 2024   September 30, 2023   September 30, 2023
        Increase (Decrease) Due to   Increase (Decrease) Due to   Increase (Decrease) Due to
        Volume   Rate   Net   Volume   Rate   Net   Volume   Rate   Net
    Changes in interest income                                    
    Total loans   $ 49     $     $ 49     $ (1,847 )   $ 2,276     $ 429     $ (227 )   $ 3,236     $ 3,009  
    Taxable investment securities     (2 )     (13 )     (15 )     (47 )     (15 )     (62 )     (175 )     (31 )     (206 )
    Nontaxable investment securities     (2 )     (3 )     (5 )     (12 )     (1 )     (13 )     (37 )     (4 )     (41 )
    Interest earning cash and cash equivalents     825       (133 )     692       1,424       5       1,429       3,672       46       3,718  
    Federal Home Loan Bank stock           (15 )     (15 )     (161 )     154       (7 )     (137 )     222       85  
    Total changes in interest income     870       (164 )     706       (643 )     2,419       1,776       3,096       3,469       6,565  
                                         
    Changes in interest expense                                    
    Interest bearing demand deposits     380       (71 )     309       359       465       824       1,162       2,269       3,431  
    Savings deposits     (25 )     33       8       (147 )     134       (13 )     (258 )     159       (99 )
    Time deposits     158       (49 )     109       922       663       1,585       4,001       2,669       6,670  
    Borrowed funds     9       117       126       (896 )     945       49       (1,265 )     869       (396 )
    Total changes in interest expense     522       30       552       238       2,207       2,445       3,640       5,966       9,606  
    Net change in net interest income (FTE)   $ 348     $ (194 )   $ 154     $ (881 )   $ 212     $ (669 )   $ (544 )   $ (2,497 )   $ (3,041 )
                                         
        Average Yield/Rate for the Three Months Ended
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Total earning assets   5.17 %   5.18 %   5.15 %   5.06 %   4.92 %
    Total interest bearing liabilities   3.28 %   3.22 %   3.11 %   2.90 %   2.66 %
    Net interest margin to earning assets (FTE)   2.80 %   2.85 %   2.92 %   3.01 %   3.05 %
                         
        Quarter to Date Net Interest Income (FTE)
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Interest income   $ 22,194     $ 21,487     $ 21,541   $ 21,033     $ 20,416  
    FTE adjustment     12       13       14     14       14  
    Total interest income (FTE)     22,206       21,500       21,555     21,047       20,430  
    Total interest expense     10,202       9,650       9,315     8,526       7,757  
    Net interest income (FTE)   $ 12,004     $ 11,850     $ 12,240   $ 12,521     $ 12,673  
                         

    Noninterest Income

        Three Months Ended
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Service charges and fees                    
    Trust and investment services     619       607       641       433       572  
    ATM and debit card     541       545       512       549       568  
    Service charges on deposit accounts     163       162       140       211       244  
    Total     1,323       1,314       1,293       1,193       1,384  
    Net gain on sales of residential mortgage loans     211       177       143       96       164  
    Net gain on sales of commercial loans     133       98       296       226        
    Change in fair value of equity investments     33       (3 )     (10 )     42       (28 )
    Changes in the fair value of MSR     (175 )     (44 )     (96 )     (108 )     119  
    Other                    
    Mortgage servicing fees     389       386       394       398       398  
    Change in cash surrender value of corporate owned life insurance     206       207       204       192       181  
    Other     90       179       131       106       120  
    Total     685       772       729       696       699  
    Total noninterest income   $ 2,210     $ 2,314     $ 2,355     $ 2,145     $ 2,338  
                         
    Memo items:                    
    Residential mortgage operations   $ 425     $ 519     $ 441     $ 386     $ 681  
        Nine Months Ended September 30   Variance
          2024       2023     Amount   %
    Service charges and fees                
    Trust and investment services   $ 1,867     $ 1,704     $ 163     9.57 %
    ATM and debit card     1,598       1,669       (71 )   (4.25)%
    Service charges on deposit accounts     465       686       (221 )   (32.22)%
    Total     3,930       4,059       (129 )   (3.18)%
    Net gain on sales of residential mortgage loans     531       523       8     1.53 %
    Net gain on sales of commercial loans     527       95       432     454.74 %
    Change in fair value of equity investments     20       (29 )     49     (168.97)%
    Changes in the fair value of MSR     (315 )     218       (533 )   (244.50)%
    Other                
    Mortgage servicing fees     1,169       1,210       (41 )   (3.39)%
    Change in cash surrender value of corporate owned life insurance     617       531       86     16.20 %
    Other     400       519       (119 )   (22.93)%
    Total     2,186       2,260       (74 )   (3.27)%
    Total noninterest income   $ 6,879     $ 7,126     $ (247 )   (3.47)%
                     
    Memo items:                
    Residential mortgage operations   $ 1,385     $ 1,951     $ (566 )   (29.01)%
                     

    Residential Mortgage Operations

    Residential mortgage operations includes net gains on sales of loans, changes in the fair value of mortgage servicing rights, and mortgage servicing fees.

    Net gain on sales of residential mortgage loans represents the income earned on the sale of residential mortgage loans into the secondary market. Although elevated interest rates and limited inventories have significantly driven down the volume of new originations and refinancing activity, we continue to actively sell residential mortgage loans into the secondary market. During the third quarter of 2024, residential mortgage originations sold into the secondary market totaled $10,722.

    Changes in the fair value of MSR are highly correlated to changes in interest rates and prepayment speeds. During the third quarter of 2024, the fair value of the servicing portfolio decreased primarily due to a decline in the size of the servicing portfolio, as the portfolio declined by $4,741. Mortgage servicing rights are expected to continue to decline due to likely further reductions in the size of our servicing portfolio as paydowns and maturities are expected to outpace new originations.

    Mortgage servicing fees includes the fees earned for servicing loans that have been sold into the secondary market. The annual decrease in mortgage servicing fees is directly related to the size of the serviced portfolio. Due to reduced levels of secondary market originations and prepayments, the serviced loan portfolio declined by $22,584, or 3.58%, since September 30, 2023. We expect mortgage servicing fees to trend modestly downward in future periods due to decreased secondary market originations.

    All Other Noninterest Income

    Trust and investment services includes income earned from contracts with customers to manage assets for investment and/or to transact on their accounts through the wealth management and trust department. Trust services and wealth management fees are subject to market fluctuations and interest rate changes. We expect trust and investment services fees to modestly increase in future periods.

    ATM and debit card income represents fees earned on ATM and debit card transactions. We expect these fees to approximate current levels in 2024.

    Service charges on deposit accounts includes fees earned from deposit customers for transaction-based charges, account maintenance and overdraft services. These charges have declined in 2024 due to a reduced level of NSF fees charged to customers based on regulatory guidance and overall industry trends. Service charges on deposit accounts are expected to approximate current levels throughout the remainder of the year.

    Net gain on sales of commercial loans represents the income earned from the sale of commercial loans into the secondary market. Throughout 2024, we sold the guaranteed portion of select SBA loans. We anticipate this strategy to continue throughout the remainder of the year.

    Change in cash surrender value of corporate owned life insurance is expected to modestly increase throughout 2024.

    Other includes miscellaneous other income items, none of which are individually significant.

    Noninterest Expenses

        Three Months Ended
        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Compensation and benefits   $ 5,839   $ 5,842   $ 6,066   $ 5,521   $ 5,592
    Professional services     799     963     894     695     726
    Furniture and equipment     668     689     727     696     668
    Occupancy     622     605     623     610     591
    Data processing     751     490     547     505     576
    Loan and collection     349     425     322     301     232
    Advertising and promotional     312     337     348     139     506
    Other                    
    Acquisition related expenses     953                
    FDIC insurance premiums     275     327     299     270     330
    ATM and debit card     214     188     171     158     153
    Telephone and communication     95     86     109     103     115
    Amortization of core deposit intangibles     44     44     45     76     75
    Other general and administrative     1,053     925     1,015     1,047     1,030
    Total     2,634     1,570     1,639     1,654     1,703
    Total noninterest expenses   $ 11,974   $ 10,921   $ 11,166   $ 10,121   $ 10,594
                         
        Nine Months Ended
    September 30
      Variance
          2024     2023   Amount   %
    Compensation and benefits   $ 17,747   $ 16,876   $ 871     5.16 %
    Professional services     2,656     2,729     (73 )   (2.67)%
    Furniture and equipment     2,084     2,079     5     0.24 %
    Occupancy     1,850     1,815     35     1.93 %
    Data processing     1,788     1,654     134     8.10 %
    Loan and collection     1,096     929     167     17.98 %
    Advertising and promotional     997     1,466     (469 )   (31.99)%
    Other                
    Acquisition related expenses     953         953     N/M
    FDIC insurance premiums     901     861     40     4.65 %
    ATM and debit card     573     493     80     16.23 %
    Telephone and communication     290     334     (44 )   (13.17)%
    Amortization of core deposit intangibles     133     227     (94 )   (41.41)%
    Other general and administrative     2,993     3,084     (91 )   (2.95)%
    Total     5,843     4,999     844     16.88 %
    Total noninterest expenses   $ 34,061   $ 32,547   $ 1,514     4.65 %
                     

    Compensation and benefits includes salaries, commissions and incentives, employee benefits, and payroll taxes. Compensation and benefits has increased in 2024 due to an increase in the size of the organization, merit increases, and market based adjustments. We expect a modest increase in overall compensation and benefits throughout the remainder of 2024.

    Professional services include expenses relating to third-party professional services. These services include, but are not limited to, regulatory, auditing, consulting, and legal. Professional services expenses are expected to approximate current levels in future periods.

    Furniture and equipment and occupancy expenses primarily consist of depreciation, repairs and maintenance, certain service contracts, and other related items. These expenses are expected to approximate current levels throughout the remainder of 2024.

    Data processing primarily includes the expenses relating to our core data processor. The increase in data processing in the third quarter of 2024 is primarily due to the loss of incentive credits from our core data processor following our proposed merger announcement. Data processing expenses are expected to modestly increase throughout 2024 due to annual contractual increases from our core data processor.

    Loan and collection includes expenses related to the origination and collection of loans. The increase in such expenses in 2024 is due to increased levels of home ownership grants. Loan and collection expenses are expected to approximate current levels in future periods as loan growth is expected to approximate current levels.

    Advertising and promotional expenses includes media costs and any donations or sponsorships. These expenses also include marketing efforts to attract new and expand existing customer loan and deposit account relationships. Total advertising and promotional expenses have declined in 2024 due to the expiration of certain long-term sponsorship commitments. Advertising and promotional expenses are expected to approximate current levels in future periods.

    Acquisition related expenses includes expenses related to our proposed merger with ChoiceOne Financial Services, Inc., which was announced during the third quarter of 2024. These expenses include services rendered for investment banking, legal and accounting. We expect to incur additional acquisition related expenses in future periods.

    FDIC insurance premiums typically fluctuate each period based on the size of the balance sheet, capital position and overall risk profile. FDIC insurance premiums are expected to approximate current levels in future periods.

    ATM and debit card expenses fluctuate based on customer and non-customer utilization of ATMs and customer debit card volumes. We expect these fees to approximate current levels in future periods.

    Telephone and communication includes expenses relating to our communication systems. These expenses are expected to approximate current levels in future periods.

    Amortization of core deposit intangibles relates to the core deposits acquired from Community Bancorp, Inc. on December 31, 2016 and FSB on December 1, 2021. These core deposit intangibles are being amortized using an accelerated sum-of-years-digits method over their estimated useful lives of seven years. The core deposit intangibles associated with the acquisition of Community Bancorp, Inc. were fully amortized as of December 31, 2023. The core deposit intangibles associated with the acquisition of FSB will be amortized through 2028.

    Other general and administrative includes miscellaneous other expense items. Other general and administrative expenses are expected to approximate current levels in future periods.

    Balance Sheet Breakdown and Analysis

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    ASSETS                    
    Cash and due from banks   $ 199,717   $ 128,590   $ 132,349   $ 90,661   $ 83,365
    Total investment securities     99,724     100,167     103,210     107,615     109,543
    Residential mortgage loans held-for-sale, at fair value     1,861     2,440     1,067     747     1,037
    Gross loans     1,442,389     1,459,929     1,461,465     1,473,471     1,483,720
    Less allowance for credit losses     14,700     15,300     15,300     15,400     15,400
    Net loans     1,427,689     1,444,629     1,446,165     1,458,071     1,468,320
    All other assets     78,379     80,803     81,838     81,858     82,674
    Total assets   $ 1,807,370   $ 1,756,629   $ 1,764,629   $ 1,738,952   $ 1,744,939
                         
    LIABILITIES AND SHAREHOLDERS’ EQUITY                    
    Total deposits   $ 1,470,586   $ 1,427,059   $ 1,438,408   $ 1,394,182   $ 1,401,797
    Total borrowed funds     179,970     178,397     178,500     198,500     201,050
    Accrued interest payable and other liabilities     10,416     7,872     6,647     7,568     9,190
    Total liabilities     1,660,972     1,613,328     1,623,555     1,600,250     1,612,037
    Total shareholders’ equity     146,398     143,301     141,074     138,702     132,902
    Total liabilities and shareholders’ equity   $ 1,807,370   $ 1,756,629   $ 1,764,629   $ 1,738,952   $ 1,744,939
                         
        9/30/2024 vs 6/30/2024   9/30/2024 vs 9/30/2023
        Variance   Variance
        Amount   %   Amount   %
    ASSETS                
    Cash and due from banks   $ 71,127     55.31 %   $ 116,352     139.57 %
    Total investment securities     (443 )   (0.44)%     (9,819 )   (8.96)%
    Residential mortgage loans held-for-sale, at fair value     (579 )   (23.73)%     824     79.46 %
    Gross loans     (17,540 )   (1.20)%     (41,331 )   (2.79)%
    Less allowance for credit losses     (600 )   (3.92)%     (700 )   (4.55)%
    Net loans     (16,940 )   (1.17)%     (40,631 )   (2.77)%
    All other assets     (2,424 )   (3.00)%     (4,295 )   (5.20)%
    Total assets   $ 50,741     2.89 %   $ 62,431     3.58 %
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
    Total deposits   $ 43,527     3.05 %   $ 68,789     4.91 %
    Total borrowed funds     1,573     0.88 %     (21,080 )   (10.48)%
    Accrued interest payable and other liabilities     2,544     32.32 %     1,226     13.34 %
    Total liabilities     47,644     2.95 %     48,935     3.04 %
    Total shareholders’ equity     3,097     2.16 %     13,496     10.15 %
    Total liabilities and shareholders’ equity   $ 50,741     2.89 %   $ 62,431     3.58 %
                     

    Cash and due from banks

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Cash and due from banks                    
    Noninterest bearing   $ 37,871   $ 35,437     $ 26,128   $ 29,997   $ 35,121  
    Interest bearing     161,846     93,153       106,221     60,664     48,244  
    Total   $ 199,717   $ 128,590     $ 132,349   $ 90,661   $ 83,365  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Cash and due from banks                    
    Noninterest bearing   $ 2,434     6.87 %       $ 2,750     7.83 %
    Interest bearing     68,693     73.74 %         113,602     235.47 %
    Total   $ 71,127     55.31 %       $ 116,352     139.57 %
                         

    Cash and due from banks fluctuates from period to period based on loan demand and variances in deposit account balances.

    Primary and secondary liquidity sources

    The following table outlines our primary and secondary sources of liquidity as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Cash and cash equivalents   $ 199,717   $ 128,590   $ 132,349   $ 90,661   $ 83,365
    Fair value of unpledged investment securities     77,019     74,775     73,680     80,247     82,103
    FHLB borrowing availability     190,000     190,000     190,000     170,000     170,000
    Unsecured lines of credit     23,000     23,000     23,000     20,000     20,000
    Funds available through the Fed Discount Window     109     106     107     111     110
    Parent company line of credit     5,100     7,000     3,500     3,500     950
    Total liquidity sources   $ 494,945   $ 423,471   $ 422,636   $ 364,519   $ 356,528
                         

    The increase in cash and cash equivalents as of September 30, 2024 was due to an increase in total deposits (see “Total deposits” below).

    In addition to the above liquidity sources, we also have the option of utilizing wholesale funding sources, such as brokered NOW accounts, brokered time deposits, and internet time deposits. Although wholesale funding sources are typically more expensive than core deposits and other liquidity sources, they are an integral part of our overall asset and liability management strategy.

    Investment securities

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Available-for-sale                    
    U.S. Government and federal agency   $ 19,432     $ 20,430     $ 20,427     $ 22,425     $ 23,420  
    State and municipal     18,997       19,108       20,403       20,460       20,992  
    Mortgage backed residential     44,086       45,808       47,505       49,076       50,786  
    Certificates of deposit     2,234       2,481       2,729       2,728       3,956  
    Collateralized mortgage obligations – agencies     21,640       22,213       22,778       23,320       24,062  
    Unrealized gain/(loss) on available-for-sale securities     (8,798 )     (12,179 )     (13,027 )     (12,760 )     (15,958 )
    Total available-for-sale     97,591       97,861       100,815       105,249       107,258  
    Held-to-maturity state and municipal     535       791       877       878       879  
    Equity securities     1,598       1,515       1,518       1,488       1,406  
    Total investment securities   $ 99,724     $ 100,167     $ 103,210     $ 107,615     $ 109,543  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Available-for-sale                    
    U.S. Government and federal agency     (998 )   (4.88)%       $ (3,988 )   (17.03)%
    State and municipal     (111 )   (0.58)%         (1,995 )   (9.50)%
    Mortgage backed residential     (1,722 )   (3.76)%         (6,700 )   (13.19)%
    Certificates of deposit     (247 )   (9.96)%         (1,722 )   (43.53)%
    Collateralized mortgage obligations – agencies     (573 )   (2.58)%         (2,422 )   (10.07)%
    Unrealized gain/(loss) on available-for-sale securities     3,381     (27.76)%         7,160     (44.87)%
    Total available-for-sale     (270 )   (0.28)%         (9,667 )   (9.01)%
    Held-to-maturity state and municipal     (256 )   (32.36)%         (344 )   (39.14)%
    Equity securities     83       5.48 %         192       13.66 %
    Total investment securities   $ (443 )   (0.44)%       $ (9,819 )   (8.96)%
                         

    The amortized cost and fair value of AFS investment securities as of September 30, 2024 were as follows:

        Maturing        
        Due in One Year or Less   After One Year But Within Five Years   After Five Years But Within Ten Years   After Ten Years   Securities with Variable Monthly Payments or Noncontractual Maturities   Total
    U.S. Government and federal agency   $ 6,481   $ 12,951   $   $   $   $ 19,432
    State and municipal     1,624     15,190     1,113     1,070         18,997
    Mortgage backed residential                     44,086     44,086
    Certificates of deposit     2,234                     2,234
    Collateralized mortgage obligations – agencies                     21,640     21,640
    Total amortized cost   $ 10,339   $ 28,141   $ 1,113   $ 1,070   $ 65,726   $ 106,389
    Fair value   $ 10,111   $ 26,620   $ 1,017   $ 1,001   $ 58,842   $ 97,591
                             

    The amortized cost and fair value of HTM investment securities as of September 30, 2024 were as follows:

        Maturing        
        Due in One Year or Less   After One Year But Within Five Years   After Five Years But Within Ten Years   After Ten Years   Securities with Variable Monthly Payments or Noncontractual Maturities   Total
    State and municipal   $ 85   $ 295   $ 155   $   $   $ 535
    Fair value   $ 84   $ 290   $ 152   $   $   $ 526
                             

    Total investment securities have declined in recent periods primarily due to maturities and prepayments. As a result of overall market conditions, we have not replenished maturing securities with new purchases.

    Residential mortgage loans held-for-sale, at fair value

    Loans HFS represent the fair value of loans that have been committed to be sold to the secondary market, but have not yet been delivered. The level of loans HFS fluctuates based on loan demand as well as the timing of loan deliveries to the secondary market.

    Loans and allowance for credit losses

    As outlined in the following tables, our loan portfolio has strategically declined throughout the past 12 months. As a result of current market conditions, we expect minimal loan growth throughout the remainder of 2024. Specifically, our commercial pipeline has declined significantly, and the requests that are being presented are lower dollar balances and often carry an SBA guarantee.

    The following tables outline the composition and changes in the loan portfolio as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Commercial and industrial   $ 109,188     $ 120,331     $ 114,772     $ 118,089     $ 125,330  
    Commercial real estate     855,270       864,200       867,270       870,693       874,870  
    Total commercial loans     964,458       984,531       982,042       988,782       1,000,200  
    Residential mortgage     419,140       418,403       426,762       431,836       431,740  
    Home equity     55,475       53,133       48,568       48,380       47,069  
    Total residential real estate loans     474,615       471,536       475,330       480,216       478,809  
    Consumer     3,316       3,862       4,093       4,473       4,711  
    Gross loans     1,442,389       1,459,929       1,461,465       1,473,471       1,483,720  
    Allowance for credit losses     (14,700 )     (15,300 )     (15,300 )     (15,400 )     (15,400 )
    Loans, net   $ 1,427,689     $ 1,444,629     $ 1,446,165     $ 1,458,071     $ 1,468,320  
                         
    Memo items:                    
    Residential mortgage loans serviced for others   $ 609,113     $ 613,854     $ 619,160     $ 624,765     $ 631,697  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Commercial and industrial   $ (11,143 )   (9.26)%       $ (16,142 )   (12.88)%
    Commercial real estate     (8,930 )   (1.03)%         (19,600 )   (2.24)%
    Total commercial loans     (20,073 )   (2.04)%         (35,742 )   (3.57)%
    Residential mortgage     737       0.18 %         (12,600 )   (2.92)%
    Home equity     2,342       4.41 %         8,406       17.86 %
    Total residential real estate loans     3,079       0.65 %         (4,194 )   (0.88)%
    Consumer     (546 )   (14.14)%         (1,395 )   (29.61)%
    Gross loans     (17,540 )   (1.20)%         (41,331 )   (2.79)%
    Allowance for credit losses     600     (3.92)%         700     (4.55)%
    Loans, net   $ (16,940 )   (1.17)%       $ (40,631 )   (2.77)%
                         
    Memo items:                    
    Residential mortgage loans serviced for others   $ (4,741 )   (0.77)%       $ (22,584 )   (3.58)%
                         

    The following table presents historical loan balances by portfolio segment as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Loans collectively evaluated                    
    Commercial and industrial   $ 102,523   $ 113,254   $ 112,542   $ 115,665   $ 124,860
    Commercial real estate     854,038     864,026     867,270     870,524     874,701
    Residential mortgage     416,864     416,130     423,881     429,109     428,927
    Home equity     55,416     53,056     48,388     48,136     46,898
    Consumer     3,325     3,862     4,093     4,473     4,711
    Subtotal     1,432,166     1,450,328     1,456,174     1,467,907     1,480,097
    Loans individually evaluated                    
    Commercial and industrial     6,665     7,077     2,230     2,424     470
    Commercial real estate     1,232     174         169     169
    Residential mortgage     2,276     2,273     2,881     2,727     2,813
    Home equity     48     77     180     244     171
    Consumer     2                
    Subtotal     10,223     9,601     5,291     5,564     3,623
    Gross Loans   $ 1,442,389   $ 1,459,929   $ 1,461,465   $ 1,473,471   $ 1,483,720
                         

    The following table presents historical allowance for credit losses allocations by portfolio segment as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Allowance for credit losses for collectively evaluated loans                    
    Commercial and industrial   $ 1,436   $ 1,434   $ 1,300   $ 1,407   $ 1,362
    Commercial real estate     8,347     8,903     8,359     8,467     8,703
    Residential mortgage     4,131     4,133     4,202     4,409     4,439
    Home equity     348     327     305     321     315
    Consumer     51     80     38     44     36
    Unallocated             670     355     294
    Subtotal     14,313     14,877     14,874     15,003     15,149
    Allowance for credit losses for individually evaluated loans                    
    Commercial and industrial     385     423     423     363     248
    Commercial real estate                    
    Residential mortgage             3     34     3
    Home equity                    
    Consumer     2                
    Unallocated                    
    Subtotal     387     423     426     397     251
    Allowance for credit losses   $ 14,700   $ 15,300   $ 15,300   $ 15,400   $ 15,400
                         
    Commercial and industrial   $ 1,784   $ 1,857   $ 1,723   $ 1,770   $ 1,610
    Commercial real estate     8,347     8,903     8,359     8,467     8,703
    Residential mortgage     4,131     4,133     4,205     4,443     4,442
    Home equity     348     327     305     321     315
    Consumer     53     80     38     44     36
    Unallocated             670     355     294
    Allowance for credit losses   $ 14,700   $ 15,300   $ 15,300   $ 15,400   $ 15,400
                         

    Loan concentration analysis

    As a result of current economic conditions, there continues to be a heightened focus in the financial industry for non-owner occupied commercial real estate loans, most specifically retail and office space industries. While we continue to monitor various industries that have been impacted by the pandemic, we also continue to monitor the effects of inflation, supply chain disruption, elevated interest rates, and office space usage associated with an increased remote workforce. The overall credit quality indicators of non-owner occupied commercial real estate loan portfolio have remained strong. Performance is based on debt service coverage ratio, loan to value ratio and payment trends. As of September 30, 2024, there were no delinquencies in the non-owner occupied commercial real estate loan portfolio. We expect the non-owner occupied commercial real estate loan portfolio to experience insignificant growth, if any, in future periods.

    Within the net lease and retail strip center non-owner occupied commercial real estate pools, we have exposure to Rite Aid. During the fourth quarter of 2023, Rite Aid, which operates over 2,000 retail pharmacies across 17 states, filed for Chapter 11 bankruptcy protection. During the third quarter of 2024, Rite Aid announced that it successfully emerged from bankruptcy protection and will now operate as a private company. However, all Rite Aid stores in Michigan were closed as part of the company’s restructuring. As a result, one commercial real estate loan was partially charged off and its remaining balance was moved to nonaccrual status during the third quarter of 2024. We continue to actively monitor five remaining loans previously associated with Rite Aid.

    With the ongoing pressures on the office sector due to remote work capabilities and less required office space, we continue to monitor the office pool more closely for potential deterioration. It is not expected that there will be much, if any, impact on portfolio performance in this pool in the near future due to existing lease terms, tenant mix, office size, and strong underwriting at origination. Due to current economic uncertainty and the pressures noted above, it is unlikely that we will seek new loan originations in the non-owner occupied office pool in 2024.

    Below is a description of each industry pool within the non-owner occupied commercial real estate loan portfolio:

    Net lease: Loans in this pool represent national credit tenants (or franchisees of the same) or large regional tenants with excellent credit. These loans are typically single tenant net lease credits with strong debt service coverage ratios and lease terms that extend beyond the maturity of the loan.

    Retail strip centers: Loans in this pool represent loans collateralized by retail strip centers. The tenant base within this pool consists primarily of retail space whose average lease periods run between one and ten years. Larger strip centers are usually anchored by a national or regional tenant. Guarantors in this category typically have large liquid reserves.

    Office: Loans in this pool represent loans collateralized by non-owner occupied office buildings. The tenant base includes legal and other professional services whose average lease periods run from three to fifteen years.

    Special use: Loans in this pool represent loans collateralized by special use buildings, which include hotels, motels, assisted living and nursing homes that are not classified as construction or SBA loans.

    Industrial: Loans in this pool represent investment properties used for manufacturing and production.

    Medical office: Loans in this pool represent loans collateralized by non-owner occupied medical office buildings. The tenant base includes medical services whose average lease periods run from three to fifteen years.

    Self storage: Loans in this pool represent self storage buildings. Loan terms are generally five years or less and the lease terms of the units are typically on a month-to-month basis.

    Mixed use: Loans in this pool represent loans collateralized by mixed use real estate. The tenant base within this pool consists primarily of office-retail, office-residential or retail-residential space. The properties are most often purchased by individuals for investment purposes.

    Retail: Loans in this pool represent loans collateralized by single tenant retail buildings whose average lease periods run over five years.

    The following tables present the composition of current and historical non-owner occupied commercial real estate loans, based on loan collateral, by industry pool:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net lease   $ 137,406     $ 141,064     $ 147,103   $ 149,056     $ 160,077  
    Retail strip centers     106,948       106,631       107,834     98,588       96,567  
    Office     61,897       62,237       61,657     61,822       62,959  
    Special use     71,307       71,006       58,278     58,710       57,612  
    Industrial     23,338       23,107       22,575     28,380       28,906  
    Medical office     24,551       24,818       25,380     25,842       28,591  
    Self storage     32,797       32,502       25,660     23,455       21,993  
    Mixed use     16,829       16,980       17,174     17,335       19,833  
    Retail     15,183       17,191       12,533     12,981       14,115  
                         
    Total non-owner occupied commercial real estate loans   $ 490,256     $ 495,536     $ 478,194   $ 476,169     $ 490,653  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Net lease   $ (3,658 )   (2.59)%       $ (22,671 )   (14.16)%
    Retail strip centers     317       0.30 %         10,381       10.75 %
    Office     (340 )   (0.55)%         (1,062 )   (1.69)%
    Special use     301       0.42 %         13,695       23.77 %
    Industrial     231       1.00 %         (5,568 )   (19.26)%
    Medical office     (267 )   (1.08)%         (4,040 )   (14.13)%
    Self storage     295       0.91 %         10,804       49.12 %
    Mixed use     (151 )   (0.89)%         (3,004 )   (15.15)%
    Retail     (2,008 )   (11.68)%         1,068       7.57 %
                         
    Total non-owner occupied commercial real estate loans   $ (5,280 )   (1.07)%       $ (397 )   (0.08)%
                         

    The following table presents the average loan size of current and historical non-owner occupied commercial real estate loans, based on loan collateral, by industry pool:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net lease   $ 1,383   $ 1,291   $ 1,311   $ 1,316   $ 1,300
    Retail strip centers     2,379     2,197     2,231     2,135     2,115
    Office     1,370     1,363     1,296     1,297     1,294
    Special use     2,612     2,546     2,064     2,079     2,134
    Industrial     933     925     941     1,092     1,072
    Medical office     1,116     1,128     1,103     1,078     1,145
    Self storage     1,923     1,926     1,509     1,380     1,692
    Mixed use     1,324     1,334     1,321     1,333     1,240
    Retail     407     513     447     461     429
                         
    Total non-owner occupied commercial real estate loans   $ 1,489   $ 1,448   $ 1,392   $ 1,379   $ 1,362
                         

    The following table presents current and historical non-owner occupied commercial real estate loans, based on loan collateral, by industry pool as a percentage of gross loans:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Net lease   9.53 %   9.66 %   10.07 %   10.12 %   10.79 %
    Retail strip centers   7.41 %   7.30 %   7.38 %   6.69 %   6.51 %
    Office   4.29 %   4.26 %   4.22 %   4.20 %   4.24 %
    Special use   4.94 %   4.86 %   3.99 %   3.98 %   3.88 %
    Industrial   1.62 %   1.58 %   1.54 %   1.93 %   1.95 %
    Medical office   1.70 %   1.70 %   1.74 %   1.75 %   1.93 %
    Self storage   2.27 %   2.23 %   1.76 %   1.59 %   1.48 %
    Mixed use   1.17 %   1.16 %   1.18 %   1.18 %   1.34 %
    Retail   1.05 %   1.18 %   0.86 %   0.88 %   0.95 %
                         
    Total non-owner occupied commercial real estate loans to gross loans   33.98 %   33.93 %   32.74 %   32.32 %   33.07 %
                         

    Asset quality

    The following table summarizes our current, past due, and nonaccrual loans as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Accruing interest                    
    Current   $ 1,428,014   $ 1,445,780   $ 1,451,432   $ 1,463,668   $ 1,477,386
    Past due 30-89 days     4,152     4,534     4,344     4,239     2,711
    Past due 90 days or more         14     398        
    Total accruing interest     1,432,166     1,450,328     1,456,174     1,467,907     1,480,097
    Nonaccrual     10,223     9,601     5,291     5,564     3,623
    Total loans   $ 1,442,389   $ 1,459,929   $ 1,461,465   $ 1,473,471   $ 1,483,720
    Total loans past due and in nonaccrual status   $ 14,375   $ 14,149   $ 10,033   $ 9,803   $ 6,334
                         

    The following table summarizes the our nonperforming assets as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Nonaccrual loans   $ 10,223   $ 9,601   $ 5,291   $ 5,564   $ 3,623
    Accruing loans past due 90 days or more         14     398        
    Total nonperforming loans     10,223     9,615     5,689     5,564     3,623
    Other real estate owned     293     293     345     597     345
    Total nonperforming assets   $ 10,516   $ 9,908   $ 6,034   $ 6,161   $ 3,968
                         

    The following table summarizes our charge-offs, recoveries and allowance for credit losses as of, and for the three-month periods ended:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Total charge-offs   $ 1,814   $ 814   $ 86     $ 110     $ 16  
    Total recoveries     11     18     29       300       455  
    Net charge-offs (recoveries)   $ 1,803   $ 796   $ 57     $ (190 )   $ (439 )
    Allowance for credit losses   $ 1,203   $ 796   $ (43 )   $ (190 )   $ (309 )
                         

    During the third quarter of 2024, we partially charged off one commercial real estate loan for $1,443 related to the Rite Aid bankruptcy filing. We believe that the credit characteristics are unique and are not an indication of softening in the remainder of our commercial loan portfolio.

    The following table summarizes the our primary asset quality measures as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Nonperforming loans to gross loans   0.71 %   0.66 %   0.39 %   0.38 %   0.24 %
    Nonperforming assets to total assets   0.58 %   0.56 %   0.34 %   0.35 %   0.23 %
    Allowance for credit losses to gross loans   1.02 %   1.05 %   1.05 %   1.05 %   1.04 %
    Net charge-offs (recoveries) to QTD average gross loans   0.12 %   0.05 %   %   (0.01)%   (0.03)%
    Credit loss expense (reversal) to QTD average gross loans   0.08 %   0.05 %   %   (0.01)%   (0.02)%
                         

    The following table summarizes the average loan size as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Commercial and industrial   $ 310   $ 343   $ 326   $ 334   $ 353
    Commercial real estate     901     906     900     905     896
    Total commercial loans     740     754     746     752     751
    Residential mortgage     235     234     234     236     234
    Home equity     58     56     53     53     52
    Total residential real estate loans     173     173     174     175     174
    Consumer     12     13     13     13     12
    Gross loans   $ 335   $ 337   $ 336   $ 337   $ 335
                         

    All other assets

    The following tables outline the composition and changes in other assets as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Premises and equipment, net   $ 13,203     $ 13,661     $ 14,111   $ 14,561     $ 14,928  
    Federal Home Loan Bank stock     9,179       9,179       9,179     9,179       9,179  
    Corporate owned life insurance     28,129       27,877       27,670     27,466       27,274  
    Mortgage servicing rights     8,461       8,636       8,680     8,776       8,884  
    Accrued interest receivable     4,354       4,747       4,869     4,472       4,485  
    Goodwill     8,853       8,853       8,853     8,853       8,853  
    Other assets                    
    Core deposit intangibles     400       444       488     533       609  
    Right-of-use assets     1,062       1,142       1,237     1,333       1,426  
    Other real estate owned     293       293       345     597       345  
    Other     4,445       5,971       6,406     6,088       6,691  
    Total     6,200       7,850       8,476     8,551       9,071  
    All other assets   $ 78,379     $ 80,803     $ 81,838   $ 81,858     $ 82,674  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Premises and equipment, net   $ (458 )   (3.35)%       $ (1,725 )   (11.56)%
    Federal Home Loan Bank stock           %               %
    Corporate owned life insurance     252       0.90 %         855       3.13 %
    Mortgage servicing rights     (175 )   (2.03)%         (423 )   (4.76)%
    Accrued interest receivable     (393 )   (8.28)%         (131 )   (2.92)%
    Goodwill           %               %
    Other assets                    
    Core deposit intangibles     (44 )   (9.91)%         (209 )   (34.32)%
    Right-of-use assets     (80 )   (7.01)%         (364 )   (25.53)%
    Other real estate owned           %         (52 )   (15.07)%
    Other     (1,526 )   (25.56)%         (2,246 )   (33.57)%
    Total     (1,650 )   (21.02)%         (2,871 )   (31.65)%
    All other assets   $ (2,424 )   (3.00)%       $ (4,295 )   (5.20)%
                         

    The annual decrease in premises and equipment was due to depreciation on our existing premises and equipment.

    Total deposits

    The following tables outline the composition and changes in the deposit portfolio as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Noninterest bearing demand   $ 398,338     $ 404,521     $ 401,518   $ 423,019     $ 425,820  
    Interest bearing                    
    Savings     264,337       262,538       274,922     273,302       293,310  
    Money market demand     250,715       230,304       229,584     223,827       225,138  
    NOW                    
    Retail NOW     202,030       205,383       203,614     178,892       198,271  
    Brokered NOW                            
                         
    Total NOW Accounts     202,030       205,383       203,614     178,892       198,271  
    Time deposits                    
    Other time deposits     294,862       264,009       268,466     234,838       198,509  
    Brokered time deposits     60,304       60,304       60,304     60,304       60,251  
    Internet time deposits                           498  
                         
    Total time deposits     355,166       324,313       328,770     295,142       259,258  
                         
    Total deposits   $ 1,470,586     $ 1,427,059     $ 1,438,408   $ 1,394,182     $ 1,401,797  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Noninterest bearing demand   $ (6,183 )   (1.53)%       $ (27,482 )   (6.45)%
    Interest bearing                    
    Savings     1,799       0.69 %         (28,973 )   (9.88)%
    Money market demand     20,411       8.86 %         25,577       11.36 %
    NOW                    
    Retail NOW     (3,353 )   (1.63)%         3,759       1.90 %
    Brokered NOW           %               %
                         
    Total NOW Accounts     (3,353 )   (1.63)%         3,759       1.90 %
    Time deposits                    
    Other time deposits     30,853       11.69 %         96,353       48.54 %
    Brokered time deposits           %         53       0.09 %
    Internet time deposits           %         (498 )   (100.00)%
                         
    Total time deposits     30,853       9.51 %         95,908       36.99 %
                         
    Total deposits   $ 43,527       3.05 %       $ 68,789       4.91 %
                         

    Between March 2022 and July 2023, the FOMC raised its target federal funds rate 11 times, from a target range of 0.00-0.25% to 5.25-5.50%, or 525 basis points, in order to combat rising inflation. This rapid increase in interest rates led to significant competition amongst financial institutions for deposits. In September 2024, the FOMC lowered the target federal funds rate 50 basis points to a target range of 4.75-5.00%. Due to the overall uncertainty regarding potential rate changes in the future, customers have not sought out long-term funds, leading to a shift in demand to higher-yielding non-maturity deposit accounts as well as short-term time deposits.

    Total borrowed funds

    The following tables outline the composition and changes in borrowed funds as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Federal Home Loan Bank borrowings   $ 160,000   $ 160,000     $ 160,000   $ 180,000     $ 180,000  
    Subordinated debentures     14,000     14,000       14,000     14,000       14,000  
    Other borrowings     5,970     4,397       4,500     4,500       7,050  
    Total borrowed funds   $ 179,970   $ 178,397     $ 178,500   $ 198,500     $ 201,050  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Federal Home Loan Bank borrowings   $     %       $ (20,000 )   (11.11)%
    Subordinated debentures         %               %
    Other borrowings     1,573     35.77 %         (1,080 )   (15.32)%
    Total borrowed funds   $ 1,573     0.88 %       $ (21,080 )   (10.48)%
                         

    We utilize a mix of borrowed funds and organic deposit growth to fund loan demand. As loan growth has slowed in recent periods, our reliance on FHLB advances has declined.

    Wholesale funding sources

    Although we have been successful at growing market deposits, we utilize wholesale funding sources when necessary to fill gaps when asset growth outpaces deposit growth. Our wholesale funding sources include Federal Home Loan Bank borrowings, correspondent Fed Funds lines and brokered deposits. Although wholesale funding sources are typically more expensive than core deposits, they are an integral part of our funding.

    The following tables outline the composition and changes in wholesale funding sources as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Federal Home Loan Bank borrowings   $ 160,000   $ 160,000     $ 160,000   $ 180,000     $ 180,000  
    Subordinated debentures     14,000     14,000       14,000     14,000       14,000  
    Other borrowings     5,970     4,397       4,500     4,500       7,050  
    Brokered NOW accounts                          
    Brokered time deposits     60,304     60,304       60,304     60,304       60,251  
    Internet time deposits                         498  
    Total wholesale funds   $ 240,274   $ 238,701     $ 238,804   $ 258,804     $ 261,799  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Federal Home Loan Bank borrowings   $     %         (20,000 )   (11.11)%
    Subordinated debentures         %               %
    Other borrowings     1,573     35.77 %         (1,080 )   (15.32)%
    Brokered NOW accounts       N/A             N/A
    Brokered time deposits         %         53       0.09 %
    Internet time deposits       N/A         (498 )   (100.00)%
    Total wholesale funds   $ 1,573     0.66 %       $ (21,525 )   (8.22)%
                         

    Accrued interest payable and other liabilities

    Accrued interest payable and other liabilities includes accrued interest payable, federal income taxes payable, deferred federal income taxes payable, and all other liabilities (none of which are individually significant).

    Total shareholders’ equity

    We are considered a “well-capitalized” institution, as our capital ratios exceed the minimum designated standards necessary in accordance with Basel III guidelines. As of September 30, 2024, the Bank’s total capital ratio was 12.78%, tier 1 capital ratio was 11.72%, and tier 1 leverage ratio was 9.02%. The minimum requirements to be considered well-capitalized are a total capital ratio of 10.00%, tier 1 capital ratio of 8.00%, and tier 1 leverage ratio of 5.00%. While we continue to be considered well-capitalized, we are focused on enhancing our capital ratios through earnings of the Bank as well as asset growth moderation strategies in 2024.

    The following tables outline the composition and changes in shareholders’ equity as of:

        9/30/2024   6/30/2024   3/31/2024   12/31/2023   9/30/2023
    Common stock   $ 74,826     $ 74,690     $ 74,555     $ 74,230     $ 74,118  
    Retained earnings     78,467       78,094       76,607       74,309       70,972  
    Accumulated other comprehensive (loss) income     (6,895 )     (9,483 )     (10,088 )     (9,837 )     (12,188 )
    Total shareholders’ equity   $ 146,398     $ 143,301     $ 141,074     $ 138,702     $ 132,902  
                         
        9/30/2024 vs 6/30/2024       9/30/2024 vs 9/30/2023
        Variance       Variance
        Amount   %       Amount   %
    Common stock   $ 136       0.18 %       $ 708       0.96 %
    Retained earnings     373       0.48 %         7,495       10.56 %
    Accumulated other comprehensive (loss) income     2,588     (27.29)%         5,293     (43.43)%
    Total shareholders’ equity   $ 3,097       2.16 %       $ 13,496       10.15 %
                         

    The Board of Directors has authorized the repurchase of up to $10,000 of common stock. As of September 30, 2024, we had $1,393 of common stock available to repurchase through the program. We did not execute any repurchases of our common stock during 2024.

    Stock Performance

    The following table compares the cumulative total shareholder return on our common stock for the year-to-date, 1 year, 3 year, and 5 year periods ended September 30, 2024. The National OTC Peer Group was developed by selecting all OTC traded bank holding companies with total assets between $1 billion and $3 billion as of 03/31/2024 that had a quoted stock price on Bloomberg. The Midwest / Great Lakes OTC Peer Group represents those institutions included in the National OTC Peer Group that are headquartered in Illinois, Indiana, Michigan, Ohio, Pennsylvania, and Wisconsin.

      # in Peer Group   YTD   1 Year   3 Year   5 Year
    Fentura Financial, Inc. (OTCQX:FETM)     45.40 %   67.28 %   59.12 %   100.80 %
                       
    National OTC Peers 43   (1.01)%   (3.49)%   2.11 %   8.44 %
    Fentura Ranking out of 44     1     1     4     4  
                       
    Midwest / Great Lakes OTC Peers 17   (1.97)%   (5.16)%   (1.63)%   1.35 %
    Fentura Ranking out of 18     1     1     1     1  
                       

    Abbreviations and Acronyms

    ABA: American Bankers Association FTE: Fully taxable equivalent
    ACH: Automated Clearing House GAAP: Generally Accepted Accounting Principles
    ACL: Allowance for credit losses HFS: Held-for-sale
    AFS: Available-for-sale HTM: Held-to-maturity
    AIR: Accrued interest receivable HFS: Held-for-sale
    AOCI: Accumulated other comprehensive income HTM: Held-to-maturity
    ARRC: Alternative Reference Rates Committee IRA: Individual retirement account
    ASC: Accounting Standards Codification ITM: Interactive Teller Machine
    ASU: Accounting Standards Update LIBOR: London Interbank Offered Rate
    ATM: Automated teller machine MSR: Mortgage servicing rights
    CDI: Core deposit intangible N/M: Not meaningful
    CET1: Common equity tier 1 NASDAQ: National Association of Securities Dealers Automated Quotations
    COLI: Corporate owned life insurance NOW: Negotiable order of withdrawal
    DRIP: Dividend Reinvestment Plan NSF: Non-sufficient funds
    EPS: Earnings Per Common Share OCI: Other comprehensive income
    ESOP: Employee Stock Ownership Plan OIS: Overnight Index Swap
    FASB: Financial Accounting Standards Board OREO: Other real estate owned
    FDIC: Federal Deposit Insurance Corporation OTTI: Other-than-temporary impairment
    FHLB: Federal Home Loan Bank QTD: Quarter-to-date
    FHLLC: Fentura Holdings LLC SAB: Staff Accounting Bulletin
    FHLMC: Federal Home Loan Mortgage Corporation SBA: U.S. Small Business Administration
    FNMA: Federal National Mortgage Association SEC: Securities and Exchange Commission
    FOMC: Federal Open Market Committee SERP: Supplemental Executive Retirement Plan
    FRB: Federal Reserve Bank SOFR: Secured Overnight Funding Rate
    FSB: Farmers State Bank of Munith TLM: Troubled loan modifications
       

    About Fentura Financial, Inc. and The State Bank

    Fentura Financial, Inc. is the holding company for The State Bank. It was formed in 1987 and is traded on the OTCQX exchange under the symbol FETM, and has been recognized as one of the Top 50 performing stocks on that exchange.

    The State Bank is a 5-Star Bauer Financial rated commercial, retail and trust bank headquartered in Fenton, Michigan. It currently operates 20 full-service offices and one loan production center serving Bay, Genesee, Ingham, Jackson, Livingston, Oakland, Saginaw, and Shiawassee counties. The State Bank believes in the potential of banking to help create better lives, better businesses, and better communities, and works to achieve this through its full array of consumer, mortgage, SBA, commercial and wealth management banking and advisory services, together with philanthropic and volunteer support to organizations and groups within the communities it serves. More information can be found at www.thestatebank.com or www.fentura.com.

    Cautionary Statement: This press release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements concerning future growth in earning assets and net income. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services, interest rates and fees for services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

    Contacts:  Ronald L. Justice  Aaron D. Wirsing
      President & CEO Chief Financial Officer
      Fentura Financial, Inc.   Fentura Financial, Inc.
      810.714.3902 810.714.3925
      ron.justice@thestatebank.com aaron.wirsing@thestatebank.com

    The MIL Network

  • MIL-OSI USA: Hinson, Ernst Work to Ensure Rural Access to Safe Contraception

    Source: United States House of Representatives – Congresswoman Ashley Hinson (IA-01)

    Washington, DC – Congresswoman Ashley Hinson (R-IA-02) and Senator Joni Ernst (R-IA) requested information on the availability of birth control options to ensure Iowa families, especially in rural areas, have access to safe and effective contraception.
     
    After data from 2017 revealed just 24 percent of all Community Health Centers (CHCs) in the country provide a comprehensive list of contraception options for patients to review on-site, the lawmakers specifically inquired about options available through Federally Qualified Health Centers (FQHCs), which serve rural areas. 

    “Ensuring women, regardless of zip code, have access to safe birth control options is vital for women’s health and family planning. Unfortunately, women in rural and underserved areas often have fewer contraception options. I’m working with Senator Ernst to expand access to safe birth control options for adult women who rely on Community Health Centers for care.”– Congresswoman Ashley Hinson
     
    “Families deserve access to safe and effective birth control when they visit their health care provider, regardless of where they live. To ensure rural areas are not overlooked, I’m working to identify the barriers that leave communities with fewer contraception options. We can build upon this fact-finding mission to address the real gaps in services that Iowa families are facing. – Senator Joni Ernst

    In the letter, lawmakers wrote:
     
    “Increased access to family planning services has proven to reduce the rate of unintended pregnancies, reduce the spread of sexually transmitted diseases, and reduce rates of infertility and maternal mortality. The limited information that is available also indicates that women in rural communities are facing a significant lack of access. With millions of women in the United States living in areas with limited contraceptive access, it’s imperative we understand the deficiencies and why they exist.”
     
    In the letter to the U.S. Government Accountability Office, the lawmakers requested: 

    • An itemized inventory of available contraception,
    • Annual family planning counseling appointment requests and rates of return,
    • Expenditures of federal funds to reimburse facilities for contraception methods,
    • Financial resources and contraceptive options offered, and
    • Any additional barriers, including geographic, to those who wish to provide a wider range of contraceptive methods to patients.

    Background:
    Hinson has led legislation to propose commonsense solutions to improve women’s health care access, including: 

    ###

    MIL OSI USA News

  • MIL-OSI USA: In Bipartisan Push, Congressman Mfume, Maryland, Virginia Lawmakers Call on President to Address Venezuelan Crab Imports

    Source: United States House of Representatives – Congressman Kweisi Mfume (MD-07)

    WASHINGTON, D.C. – Today, U.S. Congressman Kweisi Mfume (D-Md.), Senators Chris Van Hollen, Ben Cardin (both D-Md.), Mark Warner, and Tim Kaine (both D-Va.) along with U.S. Representatives Dutch Ruppersberger (D-Md.), John Sarbanes (D-Md.), Rob Wittman (R-Va.), Andy Harris (R-Md.), , David Trone (D-Md.), and Glenn Ivey (D-Md.) wrote to President Joe Biden outlining their concerns with the recent surge of crabmeat imports from Venezuela and its impact on the Chesapeake Bay region’s seafood economy as well as public health. In their letter, the lawmakers urge the President to launch an investigation through the International Trade Commission into the harm that these imports pose to our domestic seafood industry, and press the Administration to encourage a fairer seafood trade relationship. 

    “We write to express our significant concerns with the influx of crabmeat from Venezuela, which has threatened the viability of local fisheries across the Chesapeake Bay. Domestic seafood producers in Maryland and Virginia have experienced significant strain due to the influx of imported Venezuelan crabmeat, some of which is mislabeled and contaminated. In 2018, Venezuelan crabmeat mislabeled as originating from Maryland caused an outbreak of foodborne illnesses, resulting in multiple hospitalizations,” the lawmakers began.

    Highlighting the economic damage caused by Venezuelan imports, they wrote, “Since then, the supply of imported crabmeat has increased, threatening the future livelihood of domestic industry and creating the conditions for a 62 percent decrease in the domestic supply. This has harmed crab fishing industries throughout the Chesapeake Bay, which produces 50 percent of the United States’ total blue crab harvest, a proportion that is now diminishing year over year. There are now fewer than 20 Maryland crab picking and seafood processing companies, down from 53 in 1995.”

    They go on to urge the President to:

    1. Direct the United States International Trade Commission to conduct an investigation, per Section 201 of the Trade Act of 1974, looking into the harm caused by Venezuelan crabmeat imports and recommending remedies.

    2. Use the full array of informal actions available to you to address this trade issue, including through negotiations, utilization of World Trade Organization Committees, bilateral dialogues, and other activities.

    The full text of the letter is available here and below.

    Dear President Biden:

    We write to express our significant concerns with the influx of crabmeat from Venezuela, which has threatened the viability of local fisheries across the Chesapeake Bay. Domestic seafood producers in Maryland and Virginia have experienced significant strain due to the influx of imported Venezuelan crabmeat, some of which is mislabeled and contaminated. In 2018, Venezuelan crabmeat mislabeled as originating from Maryland caused an outbreak of foodborne illnesses, resulting in multiple hospitalizations. Since then, the supply of imported crabmeat has increased, threatening the future livelihood of domestic industry and creating the conditions for a 62 percent decrease in the domestic supply. This has harmed crab fishing industries throughout the Chesapeake Bay, which produces 50 percent of the United States’ total blue crab harvest, a proportion that is now diminishing year over year. There are now fewer than 20 Maryland crab picking and seafood processing companies, down from 53 in 1995.

    Chesapeake Bay crab fisheries and processors follow a strict set of regulations to ensure that the Bay remains one of the most sustainable crab fisheries in the world, that the blue crabs harvested there are of the highest quality, and that the industry does no harm to other species. Foreign competitors often confront little or no such regulation. Not only does this imbalance put local fisheries and seafood businesses at a steep disadvantage, it can also put consumers at increased risk. Consumers are often misled about what they are eating, and sometimes even made sick, as was the case when imported Venezuelan crabmeat was linked with multiple cases of Vibrio parahaemolyticus infections.

    We urge your Administration to use all of the tools at its disposal to remedy this unsustainable situation. Specifically, we urge you to:

    1. Direct the United States International Trade Commission to conduct an investigation, per Section 201 of the Trade Act of 1974, looking into the harm caused by Venezuelan crabmeat imports and recommending remedies.

    2. Use the full array of informal actions available to you to address this trade issue, including through negotiations, utilization of World Trade Organization Committees, bilateral dialogues, and other activities. 

    The Chesapeake Bay crab industry has faced numerous challenges, and the region has worked hard to preserve the blue crab population over the years. This industry carries unique cultural importance for the broader Mid-Atlantic region, enriching and enhancing the regional culinary landscape. Without the federal government stepping in to protect American manufacturers from unfair competition, they might not make it through this crisis. If they do not, Maryland, Virginia, and the country, will be all the poorer for it.

    Sincerely,

    ###

    MIL OSI USA News

  • MIL-OSI USA: Statement from Vice President Kamala  Harris One Year After the Lewiston  Shootings

    US Senate News:

    Source: The White House
    One year ago, an act of senseless violence carried out with a weapon of war took the lives of 18 loved ones and injured 13 others in Lewiston, Maine. Doug and I join all Mainers in remembering those who lost their lives on that fall night, standing with their families, and thinking of the survivors of this horrific mass shooting. In the 12 months since this tragedy took place at a local restaurant and a bowling alley, the Lewiston community has shown incredible unity, resilience, and strength. They have responded by reminding the nation of the unacceptable fact that far too many families have experienced the tremendous pain and trauma caused by the epidemic of gun violence. This is exactly why I have worked to take action to address this issue with the urgency it demands and keep our loved ones safe. With the help of gun violence survivors, families of those who have lost loved ones, young leaders, and local advocates, our administration fought to enact the Bipartisan Safer Communities Act — the first major gun safety law in nearly 30 years. We expanded background checks, closed the gun show loophole, made the largest investment in youth mental health in history, supported the implementation of red flag laws across the country, and invested in community violence intervention. Additionally, we launched the first-ever White House Office of Gun Violence Prevention, an office that I am proud to oversee. Following the tragic shooting in Lewiston, this office coordinated the first-ever federal interagency response – listening to survivors’ needs and ensuring victim services are tailored to meet them. While we have made critical progress, there is still work to do to keep our kids and communities safe. I continue to call on Congress to pass universal background checks, red flag and safe storage laws, a ban on bump stocks, and a renewal of the assault weapons ban. In the meantime, I will continue our work to save lives and ensure that every person in our nation can live free from violence, fear, and hate.

    MIL OSI USA News

  • MIL-OSI Europe: Strengthening police canine capabilities to detect and prevent illicit trafficking of small arms and light weapons in South-Eastern Europe focus of OSCE high-level meeting

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

    Headline: Strengthening police canine capabilities to detect and prevent illicit trafficking of small arms and light weapons in South-Eastern Europe focus of OSCE high-level meeting

    Strengthening police canine capabilities to detect and prevent illicit trafficking of small arms and light weapons in South-Eastern Europe focus of OSCE high-level meeting | OSCE
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    MIL OSI Europe News

  • MIL-OSI: Mountain America’s Sixth Annual Month of Caring Makes a Positive Impact Across Six States

    Source: GlobeNewswire (MIL-OSI)

    A Media Snippet accompanying this announcement is available by clicking on this link.

    SANDY, Utah, Oct. 25, 2024 (GLOBE NEWSWIRE) — Mountain America Credit Union recently wrapped up its sixth annual Month of Caring, held annually in September. An inspirational initiative, Month of Caring epitomizes the core philosophy of “people helping people,” a value deeply embedded in the credit union. Throughout the month, Mountain America team members across Arizona, Idaho, Montana, Nevada, New Mexico, and Utah were granted paid time off to engage in various charitable endeavors.

    Month of Caring provides an opportunity for Mountain America employees to connect with their local communities and make a meaningful impact. Since its inception in 2019, the initiative has grown significantly, with team members contributing more than 20,400 service hours to various charitable organizations. In 2024, team members dedicated 3,800 volunteer hours, the equivalent of 475 workdays, and counting.

    “Month of Caring is a testament to our commitment to community service,” said Sterling Nielsen, president and chief executive officer at Mountain America. “Our employees’ dedication to making a positive impact is truly inspiring, and we are proud to support their efforts year-round.”

    Mountain America team members actively engaged in a wide variety of service projects during the Month of Caring. Highlights from this year’s activities include:

    Hygiene kits for kids: Team members assembled 2,500 hygiene kits for the Young Caring for Our Young Foundation. which will be given to homeless children or kids living in poverty.

    Animal shelters: Volunteers supported various animal shelters, including the Humane Society of Utah’s Barktoberfest celebration.

    USANA Kids Eat: Team members packed nearly 800 backpacks to food-insecure kids have access to meals and snacks outside of school.

    Utah’s Hogle Zoo: Volunteers supported a variety of tasks to help keep the zoo functioning at a high level, benefiting both the animals and the families who visit. Service included prepping and freezing food for animals, weeding and planting, painting animal care areas and the zoo boardwalk, and replacing soil, grave and mulch in animal areas.

    Supporting veterans: Through Project Sanctuary and Hope for the Warriors, team members helped at a veteran family retreat and made thank you cards for service members.

    Courage Reins: Team members helped this equine-assisted therapy charity by cleaning pastures and an arena, and prepping toys and educational materials for upcoming clients.

    September 11 commemoration: Team members assisted with events to honor this day.

    Teaching golf: Volunteers taught golf to children through the Fremont County Junior Golf Association.

    “Month of Caring highlights our ongoing commitment to community involvement,” said Trent Savage, senior vice president and chief human resources officer at Mountain America. “It’s rewarding to see our employees actively contributing to the well-being of the communities where we live and work.”

    The total hours served across the organization will continue to increase through the year’s end. While serving the community is encouraged during Month of Caring, team members aren’t limited to using their hours only in the month of September. This gives teams flexibility and control over when and where they utilize their service hours as well as maintaining adequate staff within branches.

    To learn more about Mountain America’s community involvement, visit macu.com/newsroom.

    About Mountain America Credit Union
    With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across six states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.

    The MIL Network

  • MIL-OSI United Kingdom: Big day for Derriford as new units handed over

    Source: City of Plymouth

    It’s a big day for the north of Plymouth and a big day for the Council with the first units at the new district centre at Derriford now being handed over from the developer to the landlord, Plymouth City Council.

    Shoppers have been waiting with excitement for the new stores to open their doors, with Aldi’s now open and the count down on for the new Marks & Spencer Foodhall to open next month. Ahead of that, the Council has formally taken ownership of the first three units of the site, which was developed by ADC Kimberley on behalf of the Council.

    Councillor Evans said: “This is a massive deal for the north of the city and for the Council.

    “We’ve been keen to see more facilities for people in the north of the city for a long time. This ambition has been part of the Plymouth and South West Devon Joint Local Plan to make this happen in a measured and thoughtful way.

    “Not only is this good news for people living nearby, but it is great news for the 100 or so people who will be employed here and the centre will bring a longer-term rental income into the Council.”

    Council leader Tudor Evans with developer Jonathan Banham

    Other businesses taking space in the centre are also well on the way to completion. Tenants include a Marks & Spencer Foodhall, a Costa Coffee, PureGym, and an Oggy Oggy pasty shop.

    There are 12 electric vehicle charging points installed by Gridserve and sustainable transport links to and from the centre are being created to help reduce car use, with cycle lanes and easy pedestrian access to bus stops.

    Councillor Evans added: “As with all exciting, shiny new shops opening, we expect to see a rush of interest with people checking out what’s on offer. We know it could be busy in and around this new centre when it first opens, so are asking people who would automatically come up Tavistock Road, to consider getting off the A38 a junction earlier and heading up the Forder Valley link road. There’s a choice now!”

    Jonathan Banham of ADC Kimberley said: “This is a project that will provide much needed new facilities for the growing population in the north of Plymouth,”

    “As well as bringing essential new facilities to the people who live and work in this area, the project has given a significant boost to the construction industry locally and regenerated a brownfield site that had sat unused for over quarter of a century.

    The district centre builds on previous investments at Derriford made by Plymouth City Council which has resulted in the Range Head Office being built, new housing and NHS facilities popping up on Council owned land, including the new Royal Eye Infirmary on William Prance Road. It is near some of Plymouth’s biggest employers, including Derriford Hospital and the Land Registry.

    Timeline

    • 2009 – Plans for a district centre at Derriford unveiled as part of Local Development Framework. People invited to give their views
    • 2019 – The new district centre for Derriford has been a strategic city objective and Seaton Barracks was designated as the preferred site for the district centre in the Joint Local Plan, which was adopted in March
    • 2019 – ADC Kimberley Ltd, selected as the Council’s preferred developer following a competitive bidding process
    • 2021 – big-name brands secured Marks and Spencer (M&S) for a new foodhall, supermarket Aldi and Costa, which will operate a café and drive through. Other features proposed a gym, pet shop, a further, smaller retail unit and 12 rapid EV charging points.
    • 2022 – planning application for a new district centre on former Seaton Barracks Parade Ground site approved
    • 2023 – Following renegotiations with occupiers which led to increased rental income, the Council agrees £1 million investment deal to close a funding gap as project has hit by rising construction costs. 
    • June 2023 – work starts
    • October 2024 –Aldi opens for trade

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Slip way to be repaired and ferry service to resume

    Source: City of Plymouth

    Repairs to fix the Mount Edgcumbe slipway will begin next week and the ferry will resume tomorrow (Saturday 26 October).  

    During a review of the slipway at Mount Edgcumbe, Plymouth City Council surveyors identified cracks that needed to be repaired. Whilst plans were being put in place to carry out the works, a further survey was carried out following the recent bad weather.  

    The surveyors found that the storms have caused further deterioration beneath the slipway, resulting in the main concrete walkway coming loose and collapsing in places.  

    Repairs are now urgent, so the slipway has been closed and repair works will commence from Monday 28 October. Works include removing and replacing loose stone work, reinforcing the propping of the concrete slab and filling in any voids or gaps. It is hoped that the repairs will take around eight weeks, but this will be dependent on the weather.   

    The Council has been working with the Cremyll Ferry to identify an alternative landing site. From Saturday 26 October, the ferry service will operate from the beach next to the slipway at low tide, rather than the slipway. Boats have been adapted to enable passengers to get on and off from the beach. Users are encouraged to take care when getting on and off the ferry. 

    Councillor Chris Penberthy, the Plymouth City Council Cabinet Member with responsibility for facilities management, said: “As the owner of the slipway at Mount Edgcumbe, we have been planning for some time to carry out repairs. Unfortunately, the situation became urgent earlier this week when we found further damage due to the recent storms.  

    “We closed the slipway straight away and worked with the ferry operator to put together an alternative plan to enable them to continue operate. I would like to thank them for their patience and support, particularly as they had to suspend their services for two days.  

    “We will work as fast as we can to repair the slipway, but obviously it is winter and the weather might impact how long it will take.”  

    MIL OSI United Kingdom

  • MIL-OSI Security: Stoughton Man Sentenced to 14 Years in Prison for Drug Trafficking

    Source: Office of United States Attorneys

    BOSTON – A member of a nationwide drug trafficking ring was sentenced yesterday in federal court in Boston for drug trafficking charges. During the investigation, over 160 pounds of pure methamphetamine, as well as an AK-47, a Glock with no serial number, two loaded Smith & Wesson handguns and over 4,200 rounds of ammunition were seized. An illegal marijuana grow operation with hundreds of marijuana plants was also dismantled.

    James Holyoke, 43, of Stoughton, was sentenced by U.S. District Court Judge Nathaniel M. Gorton to 14 years in prison followed by five years of supervised release. In August 2022, Holyoke pleaded guilty to one count of conspiracy to distribute and to possess with intent to distribute 500 grams of a mixture and substance containing methamphetamine, as well as to six counts of distribution and possession with intent to distribute 50 grams or more of methamphetamine.

    Holyoke was charged along with seven others in July 2021 and was subsequently charged in a superseding indictment that added an additional three defendants in September 2021.  Holyoke was arrested in August 2021 and has remained in custody since that arrest.

    In late 2020, Reshat Alkayisi was identified as a large-scale methamphetamine trafficker, who distributed multi-pound quantities to customers throughout the New England area. Holyoke was identified as one of Alkayisi’s regular large-scale distributors who routinely purchased methamphetamine and redistributed it throughout the Boston area. As part of the investigation, Holyoke participated in 11 controlled purchases of methamphetamine from a cooperating witness. Those controlled purchases resulted in the seizure of over four kilograms of pure methamphetamine.

    Alkayisi pleaded guilty in April 2024 and in September 2024 sentenced to 23 years in prison to be followed by five years of supervised release. Holyoke is the 9th defendant to be sentenced in the case. All remaining defendants have pleaded guilty and are awaiting sentencing.

    Acting United States Attorney Joshua S. Levy; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division made the announcement. Valuable assistance was provided by the Massachusetts Department of Correction; Norfolk County Sherriff’s Office; and Concord, Hudson, Peabody, Reading, Watertown and Waltham Police Departments. Assistance was also provided by the Massachusetts, Rhode Island, New Hampshire and Maine State Police. Assistant U.S. Attorneys Alathea Porter and Katherine Ferguson of the Criminal Division are prosecuting the case.

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    MIL Security OSI