Federal grants – Grantstation Trendtrack http://grantstation-trendtrack.com/ Tue, 22 Nov 2022 04:24:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://grantstation-trendtrack.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Federal grants – Grantstation Trendtrack http://grantstation-trendtrack.com/ 32 32 $5 Million to Northwest Tribes: Federal Funds to Help Restore Sockeye Salmon Habitat | New https://grantstation-trendtrack.com/5-million-to-northwest-tribes-federal-funds-to-help-restore-sockeye-salmon-habitat-new/ Tue, 22 Nov 2022 04:22:51 +0000 https://grantstation-trendtrack.com/5-million-to-northwest-tribes-federal-funds-to-help-restore-sockeye-salmon-habitat-new/

US Senators from Oregon Jeff Merkley and Ron Wyden announce that a total of $5,041,495 million from the National Fish and Wildlife Foundation (NFWF) will be awarded to the Nez Perce Tribe, in partnership with the Confederated Tribes of the Umatilla Indian Reservation (CTUIR) and other partners, to restore sockeye salmon habitat connectivity to the Wallowa Lake Dam.

“Sockeye salmon are important not only to the culture of CTUIR and the Nez Perce Tribe, but to the entire Pacific Northwest,” said Senator Merkley, who chairs the Senate Domestic Appropriations Subcommittee, which has funded the program. “So we all owe a debt to these tribes, who are helping restore the 100-year-old Wallowa Lake Dam to restore sockeye salmon populations in northeast Oregon. This federal funding will help increase river flows, which will not only benefit fish populations, but also nearby communities through increased recreational opportunities, protection of drinking water sources and support for ranchers. and producers in times of drought.

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Leverage data for program improvement and student success https://grantstation-trendtrack.com/leverage-data-for-program-improvement-and-student-success/ Thu, 17 Nov 2022 08:07:12 +0000 https://grantstation-trendtrack.com/leverage-data-for-program-improvement-and-student-success/

Who registers the New England transfer guarantee? With three semesters of student-level enrollment data on this New England Higher Education Council transfer initiative under our belt, Senior Program Manager Emily Decatur and I are now equipped to begin answering this question and many more.

The New England Transfer Guarantee is a groundbreaking initiative, fully operational in the southern New England states. Connecticut, Massachusetts and Rhode Island beginning in 2021. The program allows eligible community college graduates to transfer to participating four-year institutions – guaranteed admission.

Structured to align with existing government policy, the guarantee facilitates transfer regardless of sector. Community college graduates need only their associate’s degree and a minimum GPA to gain admission to participating institutions in their state. Additionally, admitted students are guaranteed that all of their hard-earned credits will be transferred to their bachelor’s degree program and they will be eligible for institutional scholarships that will increase their savings on that bachelor’s degree. Since transparency is a core value of the program, institutions are encouraged to clearly display information about the dollar amount of institutional rewards on their collateral web pages.

Originally funded by the Teagle Foundation and the Davis Educational Foundation, this project has gained additional support from the Arthur Vining Davis Foundations and the Balfour Foundation, who have pledged to help NEBHE extend the guarantee to the six New England states—a process it is currently in progress.

Who currently benefits from the guarantee? And, on the other hand, what groups of community college students might need additional information or resources to take advantage of this valuable opportunity?

Based on our team’s analysis of student-level data for the 470 unique students who transferred through the Guarantee between Spring 2021 and Spring 2022, here’s what we know:

  • Ensure students have an impressive track record of academic achievement. Participating colleges and universities agree to a minimum GPA requirement in the Memorandum of Understanding that they must sign before they officially begin accepting guaranteed students. Participating institutions choose from the following options: 2.0, 2.5 or 3.0. Of the 406 students for whom a community college GPA was reported, only 3% transferred with a GPA below 2.5. The average community college cumulative GPA for guaranteed students between Spring 2021 and Spring 2022 was 3.33, which is well above the highest GPA threshold that participating institutions can select.
  • Ensure that students regularly receive significant institutional scholarships. One of the main innovations of this initiative is the way it opens up the possibility of granting substantial institutional scholarships to transfer students from community colleges. As it was Previously reported, ensure that students who enrolled between Spring 2021 and Spring 2022 received, in sum, well over $4.5 million in scholarships and institutional grants ($4,566,131, to be precise). NEBHE’s inaugural warranty registration report, hyperlink here, provides additional details at the state level, not only average scholarships for full-time students, but also minimum and maximum dollar amounts for scholarships. With maximum rewards in Connecticut, Massachusetts, and Rhode Island amounting to approximately $34,000, $57,000, and $20,000, respectively, it seems clear to us that institutions are taking the emphasis of the guarantee very seriously. on affordability.
  • Guaranteed students tend to enroll full-time when transferring to participating institutions. Because of strong association between full-time enrollment and desirable vertical transfer outcomes, it was reassuring to see that more than three-quarters (77%) of students secured in this first reporting period were already enrolling full-time. The compilation of the first warranty registration report also revealed state-specific areas of variability on certain data points, registration status being one of them. Although the full-time enrollment rate across the program is quite high, it actually exceeds 90% in Connecticut and Rhode Island; the tri-state rate is significantly affected by the Massachusetts outlier, where 31% of all guaranteed students are enrolled part-time.
  • Guaranteed students are, in many ways, diverse. All community college students trend on the older side, and secured students analyzed in this first enrollment report a similar pattern, with a median age of 26 (with some notable variations based on full-time versus part-time enrollment status). Perhaps more interestingly given the image of particularly independent New England institutions as very white, 44% of this group of guaranteed students were identified as BIPOC in data from participating institutions submitted to the NEBHE for quarters of the spring 2021 to spring 2022.

Over the next few months, Emily and I will work to make actionable sense of these high-level descriptive statistics.

Statistics such as the cumulative community college GPA will help us as we seek to build buy-in for the program among administrators, faculty, and staff who may not be as familiar with community college transfer students. Mitigating pernicious biases regarding the academic preparation of community college graduates can go a long way toward creating campus cultures defined by what Dimpal Jain et al. could qualify “receptiveness to transference.”

The results related to the amounts of institutional scholarships will allow us to start generating documents presenting the approximate savings that students can expect by obtaining their bachelor’s degree through the guarantee rather than entering directly into a bachelor’s degree program. Since the sticker price still dominates transfer advice conversations, being able to show how much institutions give in scholarships will go a long way in communicating the savings associated with earning a bachelor’s degree through the guarantee. For an even deeper picture of affordability, Emily and I will likely need to apply for access to federal grants and loans that complement these institutional scholarships for guaranteed students.

This data analysis, and the report in which it is presented in full, marks the beginning rather than the end of our team’s work.


Sarah Kuczynski is Assistant Program Manager for Transfer Initiatives at the New England Board of Higher Education. Emily Decatur is Senior Program Manager for Transfer Initiatives at NEBHE. For more information on NEBHE’s New England Transfer Guarantee, Click here.

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TC BANCSHARES, INC. MD&A and Analysis of Financial Condition and Results of Operations (Form 10-Q/A) https://grantstation-trendtrack.com/tc-bancshares-inc-mda-and-analysis-of-financial-condition-and-results-of-operations-form-10-q-a/ Mon, 14 Nov 2022 18:18:05 +0000 https://grantstation-trendtrack.com/tc-bancshares-inc-mda-and-analysis-of-financial-condition-and-results-of-operations-form-10-q-a/

General


This discussion and analysis reflects our financial statements and other
relevant statistical data, and is intended to enhance your understanding of our
financial condition and results of operations. The information in this section
has been derived from the accompanying unaudited financial statements and the
notes thereto appearing in Part I, Item 1 of this Quarterly Report on Form 10-Q.

Historical results of operations and the percentage relationships between amounts included and trends that may appear may not be indicative of trends in operations or results of operations for future periods.

Caution Regarding Forward-Looking Statements


This quarterly report contains certain forward-looking statements, which are
included pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, and reflect management's beliefs and expectations
based on information currently available. These forward-looking statements,
which can be identified by the use of words such as "estimate," "project,"
"believe," "intend," "anticipate," "assume," "plan," "seek," "expect," "will,"
"may," "should," "indicate," "would," "contemplate," "continue," "potential,"
"target" and words of similar meaning. These forward-looking statements include,
but are not limited to:

statements of our objectives, intentions and expectations;

statements regarding our business plans, prospects, growth and operating strategies;

statements regarding the quality of our loan and investment portfolios; and

estimates of our risks and future costs and benefits.


These forward-looking statements are based on our current beliefs and
expectations and are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are beyond our
control. In addition, these forward-looking statements are subject to
assumptions with respect to future business strategies and decisions that are
subject to change.

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

the continuing effects of the COVID-19 pandemic on our business, customers, employees and third-party service providers;

general economic conditions, whether nationally or in our market areas, being worse than expected;

changes in the level and direction of loan delinquencies and write-offs and
changes in estimates of the adequacy of the allowance for loan losses, including
after implementation of the credit impairment model for Current Expected Credit
Losses ("CECL");

our ability to access cost-effective financing;

fluctuations in real estate values ​​and residential and commercial real estate market conditions;

demand for loans and deposits in our market area;

our ability to implement and change our business strategies;

competition among depository institutions and other financial institutions;

inflation and changes in the interest rate environment that reduce our margins and yields, our mortgage banking income, the fair value of financial instruments or our level of lending, or increase the level of defaults payment, losses and prepayments on loans we have made and are making;

adverse changes in the securities or sub-mortgage markets;

changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements;

changes in laws, regulations or regulatory policies or practices;

our ability to comply with the many laws and regulations to which we are subject, including the laws of each jurisdiction where we operate;

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the impact of the Dodd-Frank Act and the JOBS Act and related regulations;

changes in the quality or composition of our loan or investment portfolios;

changes in consumer spending and saving habits;

the effects of severe weather conditions, including hurricanes and man-made disasters;

technological changes that may be more difficult or costly than expected;

the inability of third-party vendors to operate as intended;

the efficiency and effectiveness of our internal control environment;

our ability to manage market risk, credit risk, interest rate risk, liquidity risk and operational risk in the current economic environment;

the soundness of other financial institutions;

our ability to successfully enter new markets and capitalize on growth opportunities;

our ability to successfully integrate into our operations any assets,
liabilities, customers, systems and management personnel we may acquire and our
ability to realize related revenue synergies and cost savings within expected
time frames, and any goodwill charges related thereto;

changes in accounting policies and practices, as may be adopted by banking regulators, the Financial Accounting Standards Boardthe SECOND or the
Public Company Accounting Oversight Council;

our ability to retain key employees;

the ability of our management team to focus primarily on running our business rather than diverting management’s attention to responses to the COVID-19 pandemic;

our compensation expense associated with equity allocated or attributed to our employees;

changes in the financial condition, results of operations or future prospects of issuers of securities held by us,

the adverse effects of events beyond our control that may have a destabilizing
effect on financial markets and the economy, such as epidemics and pandemics,
war or terrorist activities, essential utility outages, deterioration in the
global economy, instability in the credit markets, disruptions in our customers'
supply chains or disruptions in transportation; and

each of the factors and risks under the heading “Risk Factors” in the Company’s 2021 Annual Report on Form 10-K and in subsequent filings with the SECOND.


We caution readers that the foregoing list of factors is not exclusive, is not
necessarily in order of importance and readers should not place undue reliance
on any forward-looking statements. Because the Company's ability to predict
results or the actual effect of future plans or strategies is inherently
uncertain, there can be no assurances that future actual results will correspond
to any forward-looking statements and you should not rely on any forward-looking
statements. Additionally, all statements in this Quarterly Report on Form10-Q,
including forward-looking statements, speak only as of the date they are made,
and the Company undertakes no obligation to update any statement in light of new
information or future events, except as required by applicable law.

Critical accounting estimates


For a description of the Company's critical accounting estimates, refer to "Part
II - Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations - Critical Accounting Estimates" in the Company's 2021
Annual Report. The Company considers its most significant accounting estimates
to be those applied to the Allowance for Loan Losses and income Taxes. There
have been no material changes to the Company's critical accounting estimates
since December 31, 2021.

Recent conversion and reorganization from one mutual to another


The Company, a Georgia corporation, was formed on March 5, 2021 to serve as the
bank holding company for the Bank. The Bank is a federally chartered savings
bank headquartered in Thomasville, Georgia that has served the banking needs of
our customers since 1934. On July 20, 2021, the Bank completed a mutual-to-stock
conversion in a series of transactions by which it reorganized its corporate
structure from a mutual savings bank to a federal stock savings bank, and became
a wholly-owned subsidiary of the Company. In connection with the reorganization
and conversion, the Company sold 4,898,350 shares of its common stock at a price
of $10.00 per

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share, which we refer to as the “share offering”, and on July 21, 2021the common shares of the Company began trading on NASDAQ Stock Exchange under the symbol “TCBC”.


Before the reorganization and conversion, the Company conducted no operations
other than organizational activities. In this Quarterly Report on Form 10-Q,
unless the context indicates otherwise, all references to "we," "us" and "our"
refer to the Company and the Bank, except that if the discussions relate to a
period before July 20, 2021, these terms refer solely to the Bank.


Insight


We are a full service community bank that provides a variety of services to
individual and commercial accounts in our market areas. Our business consists
primarily of taking deposits from the general public and investing those
deposits, together with funds generated from our operations, in one- to
four-family residential real estate loans, commercial and multi-family
residential real estate loans, commercial and industrial loans, construction and
land development loans and consumer loans. At September 30, 2022, we had total
assets of $406.2 million, loans, net of the allowance for loan losses and
deferred fees of $311.5 million, total deposits of $315.9 million and total
equity of $84.6 million. During 2019, the Bank elected to be treated as a
"covered savings association" which allows us to engage in the same activities
as a national bank.

Our primary deposit products are personal checking accounts, business checking
accounts, savings accounts, money market accounts and certificates of deposit.
Our lending products include single-family residential loans, construction
loans, land development loans and SBA/USDA guaranteed loans.

We expect to continue to focus on originating one- to four-family residential
real estate loans, commercial and multi-family residential real estate loans,
commercial and industrial loans, construction and land development loans and
consumer loans. Although in recent years, we have increased our focus,
consistent with what we believe to be conservative underwriting standards, on
originating higher yielding commercial real estate and commercial and industrial
loans.

We also invest in securities, which have historically consisted primarily of
mortgage-backed securities issued by U.S. government sponsored enterprises. In
recent years, we have originated single-family owner-occupied loans for sale
into the secondary market and for our own portfolio. We intend to continue this
activity in the future in order to generate fee income.

As a general matter, our interest-bearing liabilities reprice or mature more
quickly than our interest-earning assets, which can result in interest expense
increasing more rapidly than increases in interest income as interest rates
increase. Therefore, increases in interest rates may adversely affect our net
interest income and net economic value, which in turn would likely have an
adverse effect on our results of operations. To help manage interest rate risk,
we promote core deposit products and we are continuing to diversify our loan
portfolio by adding more commercial-related loans. We will seek to continue to
increase our core checking accounts during 2022.

Planned increase in expenditure


The completion of the conversion and stock offering, which resulted in us
becoming an SEC public reporting company, has increased our noninterest expenses
due to the increased costs of operating as a public company. In September, our
shareholders approved a stock-based benefit plan, which we anticipate will
further increase our noninterest expenses as the Board grants awards under the
TC Bancshares, Inc. 2022 Equity Incentive Plan.

Comparison of the financial situation at September 30, 2022 and December 31, 2021


Total Assets. Total assets increased $25.3 million, or 6.6%, to $406.2 million
at September 30, 2022 from $380.9 million at December 31, 2021. The increase was
principally due to an increase in net loans of $45.2 million partially offset by
a decrease in cash and cash equivalents of $18.2 million.

Cash and Cash Equivalents. Cash and cash equivalents decreased $18.2 million at
September 30, 2022, compared to December 31, 2021. These funds were deployed to
finance loan growth of $45.2 million after $26.6 million in funds provided by
deposit growth. The remaining funding was provided by maturities of certificates
of deposits with other banks.

Total Loans. Loans increased $45.5 million, or 16.8%, to $316.9 million at
September 30, 2022 from $271.4 million at December 31, 2021. Commercial real
estate loans increased $16.2 million, or 18.0%, to $106.0 million at September
30, 2022 from $89.8 million at December 31, 2021, due to new loan originations.
Multi-family real estate loans increased $4.9 million, or 24.7%, to $24.9
million at September 30, 2022, from $19.9 million at December 31, 2021, also due
to new loan originations. Due to the rapid rise in secondary market rates,
residential loans increased as customers chose to utilize our in-house portfolio
adjustable rate mortgages. As

                                       28
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a result, residential loans increased $27.8 million, or 28.3%, to $126.2 million
at September 30, 2022, from $98.4 million at December 31, 2021, due to new loan
originations. Commercial and industrial loans increased $1.2 million, or 7.4% to
$17.1 million at September 30, 2022 from $15.9 million at December 31, 2021.
Home equity loans also increased $0.2 million, or 1.6%, to $11.7 million at
September 30, 2022, from $11.5 million at December 31, 2021.

Construction and land development loans decreased $4.7 million, or 13.8%, to
$29.7 million at September 30, 2022 from $34.4 million at December 31, 2021.
This decrease is attributable to several construction loans converting to
permanent financing.

Allowances for Loan Losses. The amount of our allowance for loan losses is based
on management's evaluation of the collectability of the loan portfolio,
including the nature of the portfolio, credit concentrations, trends in
historical loss experience, specific impaired loans, and economic conditions.
Allowances for impaired loans are generally determined based on collateral
values or the present value of estimated cash flows. Because of uncertainties
associated with regional economic conditions, collateral values, and future cash
flows on impaired loans, it is reasonably possible that management's estimate of
probable loan losses inherent in the loan portfolio and the related allowance
may change materially in the near-term. The allowance is increased by a
provision for loan losses, which is charged to expense and reduced by full and
partial charge-offs, net of recoveries. Changes in the allowance relating to
impaired loans are charged or credited to the provision for loan losses.

During the nine months ended September 30, 2022, eight loans totaling $3.2MM
were downgraded from pass to substandard, two loans totaling $3MM were upgraded
from substandard to pass and five loans totaling $5.0MM were upgraded from
Special Mention to a rating of Acceptable and removed from the Watchlist. The
largest loan downgraded was a $2.9MM loan for a hotel located in Savannah, GA in
which the borrower has made timely payments of principal and interest. The
largest loan upgraded was a $2.9MM loan for the renovations of an existing
commercial property located in Montgomery, AL. The property had experienced
lower rental rates than anticipated and an extension of the interest only period
was requested in 2020. The property stabilized in 2021 and occupancy improved
such that the borrower has been able to service the debt in 2022. Loan loss
provision of $38,000 was recorded for the nine months ended September 30, 2022
compared to $107,000 for the nine months ended September 30, 2021. The Company
had 25 impaired loans totaling $1.4 million at September 30, 2022 compared to 27
impaired loans totaling $1.5 million at December 31, 2021. At September 30,
2022, there were no specific reserves and $24,000 of the allowance was
unallocated. We had net recoveries of $27,000 during the nine months ended
September 30, 2022, compared to net recoveries of $21,000 for the nine months
ended September 30, 2021. None of the charge-offs taken in 2022 related to the
COVID-19 pandemic. Management believes that the allowance for loan losses, which
was $4.3 million, or 1.37% of gross loans, at September 30, 2022, is adequate to
cover losses inherent in the loan portfolio.

Investment Securities. Investment securities, all of which are
available-for-sale, decreased $1.4 million, or -3.1%, to $44.2 million at
September 30, 2022 from $45.6 million at December 31, 2021. This decrease
resulted from investments made in U.S. treasuries of $5.0 million less paydowns
on mortgage-backed securities of $2.5 million and additional unrealized losses
on our investments of $4.1 million during the nine months ended September 30,
2022. Unrealized losses on our investments increased to $4.6 million at
September 30, 2022 from $485,000 at December 31, 2021. This increase in
unrealized losses was not due to a decrease in credit quality, but rather from
an aggregate increase of 300 basis points in the federal funds target range by
the Federal Open Market Committee ("FOMC") during the nine months ended
September 30, 2022, the first increases in the federal funds target range by the
FOMC since 2018.

Other Real Estate Owned. In July 2021, an SBA guaranteed owner occupied property
securing a commercial real estate loan was moved to other real estate owned
resulting in a $1.0 million increase in other real estate owned. In August 2022,
the selling price of the property was reduced to $985,000 less 10% selling costs
resulting in a write-down of this property to $886,500 of which 75% is
guaranteed by the SBA and 25%, or $41,675 was recognized by the Bank.

Bank Owned Life Insurance. Our investment in bank owned life insurance increased
$0.2 million, or 1.8%, to $11.3 million at September 30, 2022 from $11.2 million
at December 31, 2021. We invest in bank owned life insurance to provide us with
a funding offset for our benefit plan obligations. Bank owned life insurance
also generally provides us noninterest income that is non-taxable. Federal
regulations generally limit our investment in bank owned life insurance to 25%
of our Tier 1 capital plus our allowance for loan losses. Our investment in bank
owned life insurance at September 30, 2022 was 16.3% of our Tier 1 capital plus
our allowance for loan losses.

Deposits. Total deposits increased $26.6 million, or 9.2%, to $315.9 million at
September 30, 2022 from $289.3 million at December 31, 2021.
Non-interest-bearing demand accounts increased $10.7 million, or 29.7%, to $46.6
million at September 30, 2022, from $35.9 million at December 31, 2021.
Interest-bearing demand accounts increased $13.7 million, or 9.4%, to $160.6
million at September 30, 2022, from $146.8 million at December 31, 2021. Savings
accounts increased $318,000, or .9%, to $34.3 million at September 30, 2022 from
$34.0 million at December 31, 2021. Certificates of deposit increased $1.8
million, or 2.5%, to $74.3 million at September 30, 2022 from $72.5 million at
December 31, 2021.

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Accrued interest payable and other liabilities. Accrued interest payables and
other liabilities increased $893,000, or 18.6%, to $5.7 million at September 30,
2022, from $4.8 million at December 31, 2021. Of this amount, first mortgage
loan escrows increased $639,000, or 331.1% to $832,000 at September 30, 2022,
from $193,000 at December 31, 2021.

Shareholders' Equity. Total shareholders' equity decreased $2.2 million, or
2.5%, to $84.6 million at September 30, 2022 from $86.8 million at December 31,
2021. The decrease resulted primarily from the $3.2 million, or 1,839.1%,
increase in the unrealized loss after taxes on our investment securities
available for sale of $3.4 million at September 30, 2022, from $0.2 million at
December 31, 2021. This decrease was not due to a change in credit quality but
resulted from the increase in the federal funds rates as noted above. Also
contributing to the decrease, the Company purchased $734,000 of its own stock
that is held in treasury and reported as a reduction in equity. Additionally,
the Company declared $245,000 of cash dividends to shareholders in June 2022 and
paid on July 15, 2022. These decreases were partially offset by net income of
$2.0 million for the nine months ended September 30, 2022.

Comparison of operating results for the three months ended September 30, 2022
and 2021


General. Net income increased $105,000, or 17.6%, to $703,000 for the three
months ended September 30, 2022, compared to $598,000 for the three months ended
September 30, 2021. The increase in net income resulted primarily from a
$625,000 increase in net interest income partially offset by a $318,000 decrease
in gains on sale of mortgage loans and a $221,000 increase in other expense.

Interest Income. Interest and dividend income increased $676,000, or 20.0%, to
$4.0 million for the three months ended September 30, 2022 from $3.4 million for
the three months ended September 30, 2021. This increase was primarily due to
increases in interest income on the loan portfolio of $433,000, or 13.5%, as
well as increases in interest and dividends on taxable investment securities
available for sale of $107,000 and interest on deposits with other banks and
federal funds sold of $135,000. The average balance of loans, including loans
held for sale, increased $45.0 million, or 16.8%, to $313.1 million for the
three months ended September 30, 2022, from $268.1 million for the three months
ended September 30, 2021, and the average yield on loans decreased to 4.62% for
the three months ended September 30, 2022 from 4.75% for three months ended
September 30, 2021. The average balance of investment securities increased $14.1
million, or 44.2%, to $45.9 million for the three months ended September 30,
2022, from $31.9 million for the three months ended September 30, 2021, while
the average yield on investment securities increased 55 basis points to 1.93%
for the three months ended September 30, 2022, from 1.38% for the three months
ended September 30, 2021. The average balance of other interest-earning deposits
decreased $25.2 million, or -43.3%, to $33.0 million for three months ended
September 30, 2022, from $58.2 million for the three months ended September 30,
2021, while the average yield on other interest-earning deposits increased 184
basis points to 2.16% for the three months ended September 30, 2022, from 0.32%
for the three months ended September 30, 2021.

Interest Expense. Total interest expense increased $51,000, or 21.7%, to
$284,000 for the three months ended September 30, 2022 from $233,000 for the
three months ended September 30, 2021. The increase was primarily due to an
increase in interest rates offered on money market accounts and certificate of
deposits due to the federal funds target range increasing 300 basis points to
3.25% on September 30, 2022, from 0.25% on September 30, 2021. The average
balance of interest-bearing deposits increased $13.8 million, or 5.3%, to $274.8
million for the three months ended September 30, 2022, from $261.0 million for
the three months ended September 30, 2021, with a 6 basis point increase in the
average cost of interest-bearing deposits to 0.41% for the three months ended
September 30, 2022, from 0.35% for the three months ended September 30, 2021.
The average balances of FHLB advances decreased $797,000, or 100%, to $0 for the
three months ended September 30, 2022. For the three months ended September 30,
2021, the average cost of FHLB advances was 0.50%.

Net Interest Income. Net interest income increased $625,000, or 19.9%, to $3.8
million for the three months ended September 30, 2022 from $3.1 million for the
three months ended September 30, 2021. Our average interest-earning assets
increased $34.5 million, or 9.6%, period over period. This increase was due
primarily to increases in our loan portfolio of $45.0 million and securities of
$14.0 million, partially offset by a $25.2 million decrease in the average
balance of our interest-earning deposits with other banks. Our interest rate
spread increased to 3.68% for the three months ended September 30, 2022 from
3.38% for the three months ended September 30, 2021, and our net interest margin
increased to 3.80% for the three months ended September 30, 2022 from 3.47% for
the three months ended September 30, 2021. The increases in interest rate spread
and net interest margin were primarily the result of the mix of our interest
earning assets. As stated earlier, average loans which is our highest yielding
asset increased $45.0 million from September 30, 2021, and our interest-bearing
deposits, which are our lowest yield assets, decreased $25.2 million from
September 30, 2021. The cost on our earning assets increased 24 bps; whereas,
the yield on our interest-bearing liabilities increased only 6 bps.

Provision for Loan Losses. We recorded $38,000 in provision for loan losses for
the three months ended September 30, 2022, compared to a $107,000 provision for
the three months ended September 30, 2021. Provisions for loan losses are
charged to operations to establish an allowance for loan losses at a level
necessary to absorb known and inherent losses in our loan portfolio that are
both probable and reasonably estimable at the date of the financial statements.
In evaluating the level of the allowance for loan losses, management analyzes
several qualitative loan portfolio risk factors including, but not limited to,
management's ongoing review and grading of loans, facts and issues related to
specific loans, historical loan loss and delinquency experience, trends in past
due and

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non-accrual loans, existing risk characteristics of specific loans or loan
pools, the fair value of underlying collateral, current economic conditions and
other qualitative and quantitative factors which could affect potential credit
losses. See the section entitled "Allowance for Loan Losses" in this Item 2, and
Note 3 of the Consolidated Financial Statements in Item 1 of this Quarterly
Report on Form 10-Q.

The allowance for loan losses was $4.3 million, or 1.37% of total loans, at
September 30, 2022, and $4.2 million, or 1.54%, of total loans at December 31,
2021, and $4.2 million, or 1.57% of total loans, at September 30, 2021.
Classified (substandard, doubtful and loss) loans decreased to $4.2 million at
September 30, 2022 compared to $4.3 million at December 31, 2021 and $4.7
million at September 30, 2021. We had $524,000 of nonperforming loans at
September 30, 2022, compared to $414,000 at December 31, 2021 and $690,000 at
September 30, 2021. Net recoveries for the three months ended September 30, 2022
and 2021 were $27,000 and $21,000, respectively. We had no loans in deferral at
September 30, 2022, or December 31, 2021.

Other income. Other income information is as follows.

                                        For the three months
                                         ended September 30,               Change
                                        2022            2021        Amount      Percent
                                                    (Dollars in thousands)
Service charges on deposit accounts   $     144       $     152     $    (8 )       (5.3 )%
Gain on sale of loans                       219             537        (318 )      (59.2 )%
Other                                        75              88         (13 )      (14.8 )%
Total non-interest income             $     438       $     777     $  (339 )      (43.6 )%



Other income decreased $339,000, or 43.6%, to $438,000 for the three months
ended September 30, 2022 from $777,000 for the three months ended September 30,
2021. The decrease was primarily due to a $318,000 decrease in gain on sale of
mortgage loans into the secondary market to $219,000 for the three months ended
September 30, 2022, compared to $537,000 for the three months ended September
30, 2021. This decrease is primarily due to the decrease in mortgage loan
refinancings and home purchases sold into the secondary market as interest rates
have increased since December 31, 2021.


Other expenses. Other expenditure information is as follows.

                                              For the three months
                                               ended September 30,                  Change
                                              2022             2021          Amount        Percent
                                                            (Dollars in thousands)
Salaries and employee benefits             $     1,987       $   1,892     $       95           5.0 %
Occupancy and equipment                            213             217             (4 )        (1.8 )%
Advertising                                         67              58              9          15.5 %
Audit and examination                              159             107             52          48.6 %
Checking account related expenses                  138             168            (30 )       (17.9 )%
Consulting and advisory fees                        24              79            (55 )       (69.6 )%
Data processing fees                               115             133            (18 )       (13.5 )%
Director fees                                      105              68             37          54.4 %
Legal                                              131              48             83         172.9 %
Other real estate loss/(gain) on sale               27               2             25
and write-downs                                                                             1,250.0 %
Other                                              284             257             27          10.5 %
Total non-interest expense                 $     3,250       $   3,029     $      221           7.3 %



Other expense increased $221,000, or 9.5%, to $3.25 million for the three months
ended September 30, 2022, from $3.03 million for the three months ended
September 30, 2021. The increase was due primarily to a $95,000 and $83,000
increase in salaries and employee benefits and legal fees, respectively. In
addition, audit and examination expenses increased $52,000, or 48.6%, to
$159,000 for the three months ended September 30, 2022 from $107,000 for the
three months ended September 30, 2021. The increase in salaries and benefits was
attributable to additional staff hired. The increases in legal and audit and
examination fees were attributable to expenses associated with the additional
SEC filing and compliance requirements of being a public company.

Income Tax Expense. Income tax expense increased $29,000 to $212,000 for the
three months ended September 30, 2022, compared to $183,000 for the three months
ended September 30, 2021. The increase resulted from the $134,000 increase in
income before income taxes. For the three months ended September 30, 2022,
income before taxes was $915,000, compared to $781,000 for the three months
ended September 30, 2021. Our effective tax rate was 23.2% for the three months
ended September 30, 2022 and 23.5% for the three months ended September 30,
2021.

                                       31
--------------------------------------------------------------------------------

Average balances, interest and average returns/costs


The following table sets forth for the periods indicated, information regarding
average balances of assets and liabilities as well as the total dollar amounts
of interest income from average interest-earning assets and interest expense on
average interest-bearing liabilities, resultant yields, interest rate spread,
net interest margin (otherwise known as net yield on interest-earning assets),
and the ratio of average interest-earning assets to average interest-bearing
liabilities. All average balances are daily average balances. Non-accruing loans
have been included in the table as loans carrying a zero yield. Loan fees are
included in interest income on loans and are not material. No tax-equivalent
yield adjustments have been made, as the effects would be immaterial.

                                                                      For 

the term has ended September 30,

                             2022                            2022                                            2021
                          Yield/rate         Average         Interest       Average          Average         Interest       Average
                            At 9-30          Balance         Earned/         Yield/          Balance         Earned/         Yield/
                             2022          Outstanding         Paid           Rate         Outstanding         Paid           Rate
                                                                    (Dollars in thousands)
Interest-earning
assets:
Loans receivable                 4.46 %   $     313,134     $    3,644           4.62 %   $     268,161     $    3,210           4.75 %
Securities
available-for-sale               2.11 %          45,940            223           1.93 %          31,880            111           1.38 %
Interest-earning
deposits                         3.15 %          33,006            180           2.16 %          58,169             47           0.32 %
Other interest-earning
assets                           4.11 %             926              2           0.86 %             284              5           6.98 %
Total interest-earning
  assets                         4.12 %         393,006     $    4,049           3.97 %         358,494     $    3,373           3.73 %
Non-interest-earning
assets                                           20,030                                          10,197
Total assets                              $     413,036                                   $     368,691
Interest-bearing
liabilities:
Savings and money
market
  accounts                       0.58 %   $     141,281     $      168           0.47 %   $     141,467     $       66           0.19 %
Interest-bearing
checking
  accounts                       0.09 %          58,255             17           0.12 %          42,073             13           0.12 %
Certificate accounts             0.59 %          75,221             99           0.52 %          77,418            153           0.78 %
Total interest-bearing
  deposits                       0.26 %         274,757            284           0.41 %         260,958            232           0.35 %
Borrowings                          - %               -              -              - %             797              1           0.50 %
Total interest-bearing
  liabilities                    0.48 %         274,757            284           0.41 %         261,755            233           0.35 %
Non-interest-bearing
  liabilities                                    52,577                                          65,969
Total liabilities                               327,334                                         327,724
Total equity                                     85,702                                          40,967
Total liabilities and
  equity                                  $     413,036                                   $     368,691
Net interest income                                         $    3,765                                      $    3,140
Net earning assets                        $     118,249                                   $      96,739
Net interest rate
spread(1)                        3.64 %                                          3.68 %                                          3.38 %
Net interest margin(2)                                                           3.80 %                                          3.47 %
Average
interest-earning
  assets to average
  interest-bearing
liabilities                                      143.04 %                                        136.96 %




(1)
Net interest rate spread represents the difference between the weighted average
yield on interest-earning assets and the weighted average rate of
interest-bearing liabilities.
(2)
Net interest margin represents net interest income divided by average total
interest-earning assets.

                                       32
--------------------------------------------------------------------------------

Rate/volume analysis


The following table presents the dollar amount of changes in interest income and
interest expense for major components of interest-earning assets and
interest-bearing liabilities. It distinguishes between the changes related to
outstanding balances and that due to the changes in interest rates. For each
category of interest-earning assets and interest-bearing liabilities,
information is provided on changes attributable to (i) changes in volume (i.e.,
changes in volume multiplied by old rate) and (ii) changes in rate (i.e.,
changes in rate multiplied by old volume). For purposes of this table, changes
attributable to both rate and volume, which cannot be segregated, have been
allocated proportionately to the change due to volume and the change due to
rate.

                                                Quarter Ended
                                                September 30,
                                                2022 vs. 2021
                                          Increase/
                                         (decrease)             Total
                                           due to             increase/
                                      Volume       Rate      (decrease)
                                               (In thousands)
Interest-earning assets:
Loans receivable                     $    538     $ (104 )   $       434
Securities available for sale              49         63             112
Interest-earning deposits                 (20 )      153             133
Other interest-earning assets              11        (14 )            (3 )
Total interest-earning assets             578         98             676
Interest-bearing liabilities:
Savings and money market accounts           -        102             102
Interest-bearing checking accounts          5         (1 )             4
Certificate accounts                       (4 )      (50 )           (54 )
Total interest-bearing deposits             1         51              52
Borrowings                                 (1 )                       (1 )
Total interest-bearing liabilities          -         51              51

Change in net interest income $578 $47 $625

Comparison of operating results for the nine months ended September 30, 2022 and 2021


General. Net income increased $60,000, or 3.1%, to $1,993,000 for the nine
months ended September 30, 2022, compared to $1,933,000 for the nine months
ended September 30, 2021. The increase in net income resulted primarily from a
$1.3 million increase in net interest income that was reduced primarily by a
decrease in gain on sale of mortgage loans of $814,000 and an increase in other
expenses of $543,000.

Interest Income. Interest and dividend income increased $1,139,000, or 11.6%, to
$11.0 million for the nine months ended September 30, 2022 from $9.8 million for
the nine months ended September 30, 2021. This increase was primarily due to an
increase in interest on our loan portfolio of $629,000, and interest income and
dividends on taxable investment securities available for sale of $292,000 as
well as interest on deposits with other banks and federal funds sold of
$218,000. The average balance of loans, including loans held for sale, increased
$26.5 million, or 9.95%, to $292.8 million for the nine months ended September
30, 2022, from $266.3 million for the nine months ended September 30, 2021, and
the average yield on loans decreased 14 basis points to 4.59% for the nine
months ended September 30, 2022, from 4.73% for the nine months ended September
30, 2021. The average balance of investment securities increased $22.6 million,
or 95.29%, to $46.4 million for the nine months ended September 30, 2022, from
$23.7 million for the nine months ended September 30, 2021, while the average
yield on investment securities increased 11 basis points to 1.61% for the nine
months ended September 30, 2022, from 1.50% for the nine months ended September
30, 2021. The average balance of other interest-earning deposits decreased $16.7
million, or 26.48%, to $46.3 million for nine months ended September 30, 2022,
from $63.0 million for the nine months ended September 30, 2021, and the average
yield on other interest-earning deposits increased 73 basis points to 1.03% for
the nine months ended September 30, 2022, from 0.30% for the nine months ended
September 30, 2021.

Interest Expense. Total interest expense decreased $209,000, or 14.9%, to
$625,000 for the nine months ended September 30, 2022 from $834,000 for the nine
months ended September 30, 2021. The decrease was primarily due to lower
interest rates offered on all deposit products even though the federal funds
target range increased 300 basis points to 3.25% on September 21, 2022 from
0.25% on January 1, 2022. The average balance of interest-bearing deposits
decreased $2.3 million, or 0.85%, to $268.1 million for the nine months ended
September 30, 2022, from $270.4 million for the nine months ended September 30,
2021 with an 8 basis point decline in the average cost of interest-bearing
deposits to 0.31% for the nine months ended September 30, 2022, from 0.40% for
the nine months

                                       33
--------------------------------------------------------------------------------


ended September 30, 2021. The average balances of FHLB advances decreased $6.3
million, or 100%, to $0 for the nine months ended September 30, 2022. For the
nine months ended September 30, 2021, the average cost of FHLB advances was
0.83%.

Net Interest Income. Net interest income increased $1.4 million, or 14.9%, to
$10.4 million for the nine months ended September 30, 2022 from $9.0 million for
the nine months ended September 30, 2021. Our average interest-earning assets
increased $32.8 million, or 9.28%, period over period. This increase was due
primarily to increases in our loan portfolio of $26.5 million and investment
securities available for sale of $22.6 million offset by a decrease in
interest-earning deposits with other banks of $16.7 million. Our interest rate
spread increased to 3.49% for the nine months ended September 30, 2022 from
3.32% for the nine months ended September 30, 2021, and our net interest margin
increased to 3.58% for the nine months ended September 30, 2022 from 3.41% for
the nine months ended September 30, 2021. The increases in interest rate spread
and net interest margin were primarily the result of the mix of our earning
assets. As stated earlier average loans which is our highest yielding asset
increased $26.5 million and our interest-bearing deposits, which are our lowest
yield assets, decreased $16.7 million from December 31, 2021. The yield on our
earning assets increased 8 bps; whereas, the yield on our interest-bearing
liabilities decreased 9 bps as we paid off our FHLB advances in 2021.

Provision for Loan Losses. Provisions for loan losses are charged to operations
to establish an allowance for loan losses at a level necessary to absorb known
and inherent losses in our loan portfolio that are both probable and reasonably
estimable at the date of the financial statements. In evaluating the level of
the allowance for loan losses, management analyzes several qualitative loan
portfolio risk factors including, but not limited to, management's ongoing
review and grading of loans, facts and issues related to specific loans,
historical loan loss and delinquency experience, trends in past due and
non-accrual loans, existing risk characteristics of specific loans or loan
pools, the fair value of underlying collateral, current economic conditions and
other qualitative and quantitative factors which could affect potential credit
losses. See the section entitled "Allowance for Loan Losses" in this Item 2, and
Note 3 of the Consolidated Financial Statements in Item 1 of this Quarterly
Report on Form 10-Q.

We recorded $98,000 in provision for loan losses for the nine months ended
September 30, 2022 compared to $123,000 for the nine months ended September 30,
2021. The allowance for loan losses was $4.3 million, or 1.37% of total loans at
September 30, 2022, and $4.2 million, or 1.54% of total loans at December 31,
2021, and $4.1 million, or 1.56% of total loans, at September 30, 2021.
Classified (substandard, doubtful and loss) loans decreased to $4.2 million at
September 30, 2022 compared to $4.3 million at December 31, 2021 and $4.6
million at September 30, 2021. We had $524,000 of nonperforming loans at
September 30, 2022, compared to $414,000 at December 31, 2021 and $690,000 at
September 30, 2021. Net recoveries for the nine months ended September 30, 2022
and 2021 were $55,000 and $38,000, respectively. We had no loans in deferral at
September 30, 2022 or December 31, 2021.

Other income. Other income information is as follows.

                                         For the nine
                                         months ended
                                         September 30,               Change
                                       2022        2021       Amount      Percent
                                                 (Dollars in thousands)

Service charges on deposit accounts $415 $421 $ (6 )

  (1.4 )%
Gain on sale of loans                     825       1,639        (814 )      (49.7 )%
Other                                     307         237          70         29.5 %
Total non-interest income             $ 1,547     $ 2,297     $  (750 )      (32.7 )%



Other income decreased $750,000, or 32.7%, to $1,547,000 for the nine months
ended September 30, 2022, from $2,297,000 for the nine months ended September
30, 2021. The decrease was primarily due to a $814,000 decrease in gain on sale
of mortgage loans into the secondary market to $9825,000 for the nine months
ended September 30, 2022, compared to $1,639,000 for the nine months ended
September 30, 2021. This decrease is primarily due to the decrease in mortgage
loan refinancings and home purchases as interest rates have increased since
December 31, 2021.


                                       34
--------------------------------------------------------------------------------

Other expenses. Other expenditure information is as follows.

                                                For the nine
                                                months ended
                                                September 30,                   Change
                                             2022          2021          Amount        Percent
                                                          (Dollars in thousands)
Salaries and employee benefits             $  5,695     $    5,562     $      133           2.4 %
Occupancy and equipment                         624            617              7           1.1 %
Advertising                                     197            170             27          15.9 %
Audit and examination                           410            306            104          34.0 %
Checking account related expenses               424            416              8           1.9 %
Consulting and advisory fees                     91            135            (44 )       (32.6 )%
Data system conversion costs                      -              1             (1 )      (100.0 )%
Data processing fees                            346            337              9           2.7 %
Director fees                                   226            231             (5 )        (2.2 )%
Legal                                           247             37            210         567.6 %
Other real estate loss/(gain) on sale
and write-downs                                  59              4             55       1,375.0 %
Other                                           893            853             40           4.7 %
Total non-interest expense                 $  9,212     $    8,669     $      543           6.3 %



Other expense increased $543,000, or 6.3%, to $9.2 million for the nine months
ended September 30, 2022, from $8.7 million for the nine months ended September
30, 2021. The increase was due primarily to a $148,000 and $104,000 increase in
legal and audit and examination expenses, respectively, which are attributable
to expenses associated with the additional SEC filing and compliance
requirements of being a public company. In addition, salaries and employee
benefits increased $133,000 increased due to hiring additional staff.

Income Tax Expense. Income tax expense increased $18,000 to $602,000 for the
nine months ended September 30, 2022, compared to $584,000 for the nine months
ended September 30, 2021. The increase resulted from a $79,000 increase in
income before income taxes. For the nine months ended September 30, 2022, income
before taxes was $2,596,000 compared to $2,517,000 for the nine months ended
September 30, 2021. Our effective tax rate was 23.2% both the nine months ended
September 30, 2022 and 2021.

                                       35
--------------------------------------------------------------------------------

Average balances, interest and average returns/costs


The following table sets forth for the periods indicated, information regarding
average balances of assets and liabilities as well as the total dollar amounts
of interest income from average interest-earning assets and interest expense on
average interest-bearing liabilities, resultant yields, interest rate spread,
net interest margin (otherwise known as net yield on interest-earning assets),
and the ratio of average interest-earning assets to average interest-bearing
liabilities. All average balances are daily average balances. Non-accruing loans
have been included in the table as loans carrying a zero yield. Loan fees are
included in interest income on loans and are not material. No tax-equivalent
yield adjustments have been made, as the effects would be immaterial.


                                                                   For the 

nine months ended September 30,

                             2022                            2022                                           2021
                          Yield/rate         Average        Interest       Average          Average         Interest       Average
                            At 9-30          Balance         Earned/        Yield/          Balance         Earned/         Yield/
                             2022          Outstanding        Paid           Rate         Outstanding         Paid           Rate
                                                                    (Dollars in thousands)
Interest-earning
assets:
Loans receivable                 4.46 %   $     292,803     $  10,051           4.59 %   $     266,312     $    9,422           4.73 %
Securities
available-for-sale               2.11 %          46,355           558           1.61 %          23,737            266           1.50 %
Interest-earning
deposits                         3.15 %          46,322           356           1.03 %          63,006            140           0.30 %
Other interest-earning
assets                           4.11 %             926            20           2.89 %             530             18           4.54 %
Total interest-earning
  assets                         4.12 %         386,406        10,985           3.80 %         353,585          9,846           3.72 %
Non-interest-earning
assets                                           18,839                                         20,616
Total assets                              $     405,245                                  $     374,201
Interest-bearing
liabilities:
Savings and money
market
  accounts                       0.58 %   $     135,444           311           0.31 %   $     138,760            206           0.20 %
Interest-bearing
checking
  accounts                       0.09 %          58,705            44           0.10 %          51,076             35           0.09 %
Certificate accounts             0.59 %          73,938           271           0.49 %          80,543            554           0.92 %
Total interest-bearing
  deposits                       0.26 %         268,087           626           0.31 %         270,379            795           0.39 %
Borrowings                          - %               -             -              -             6,299             39           0.83 %
Total interest-bearing
  liabilities                    0.48 %         268,087           626           0.31 %         276,678            834           0.40 %
Non-interest-bearing
  liabilities                                    50,910                                         57,148
Total liabilities                               318,997                                        333,826
Total equity                                     86,248                                         40,375
Total liabilities and
  equity                                  $     405,245                                  $     374,201
Net interest income                                         $  10,359                                      $    9,012
Net earning assets                        $     118,319                                  $      76,907
Net interest rate
spread(1)                        3.64 %                                         3.49 %                                          3.32 %
Net interest margin(2)                                                          3.58 %                                          3.41 %
Average
interest-earning
  assets to average
  interest-bearing
  liabilities                                    144.13 %                                       127.80 %





(1)
Net interest rate spread represents the difference between the weighted average
yield on interest-earning assets and the weighted average rate of
interest-bearing liabilities.
(2)
Net interest margin represents net interest income divided by average total
interest-earning assets.

                                       36
--------------------------------------------------------------------------------

Rate/volume analysis


The following table presents the dollar amount of changes in interest income and
interest expense for major components of interest-earning assets and
interest-bearing liabilities. It distinguishes between the changes related to
outstanding balances and that due to the changes in interest rates. For each
category of interest-earning assets and interest-bearing liabilities,
information is provided on changes attributable to (i) changes in volume (i.e.,
changes in volume multiplied by old rate) and (ii) changes in rate (i.e.,
changes in rate multiplied by old volume). For purposes of this table, changes
attributable to both rate and volume, which cannot be segregated, have been
allocated proportionately to the change due to volume and the change due to
rate.

                                             Nine Months Ended
                                               September 30,
                                               2022 vs. 2021
                                         Increase/
                                         (decrease)            Total
                                           due to            increase/
                                     Volume       Rate      (decrease)
                                               (In thousands)
Interest-earning assets:
Loans receivable                     $   937     $ (308 )   $       629
Securities available for sale            253         39             292
Interest-earning deposits                (37 )      253             216
Other interest-earning assets             13        (11 )             2

Total interest-bearing assets 1,166 (27 ) 1,139 Interest-bearing debt: Savings and money market accounts (5 ) 110

             105
Interest-bearing checking accounts         5          4               9
Certificate accounts                     (45 )     (238 )          (283 )

Total interest-bearing deposits (45 ) (124 ) (169 ) Borrowings

                               (39 )        -             (39 )

Total interest-bearing liabilities (84 ) (124 ) (208 ) Change in net interest income $1,250 $97 $1,347

CASH AND CAPITAL RESOURCES

Liquidity


Our liquidity is a measure of our ability to fund loans, pay withdrawals of
deposits, and other cash outflows in an efficient, cost-effective manner. Our
short-term sources of liquidity include maturity, repayment and sales of assets,
excess cash and cash equivalents, new deposits, other borrowings, and new
advances from the Federal Home Loan Bank. There has been no material adverse
change during the nine months ended September 30, 2022 in our ability to fund
our operations.

Our primary sources of funds are deposits, principal and interest payments on
loans and securities, proceeds from the sale of loans, and proceeds from
maturities of securities. We also have the ability to borrow from the Federal
Home Loan Bank of Atlanta. At September 30, 2022, we had $48.8 million in
borrowing capacity with the Federal Home Loan Bank of Atlanta, and had no
advances outstanding. In addition, we have $19.5 million in unsecured federal
funds lines of credit through our correspondent banks and $5.8 million secured
borrowing capacity through the Federal Reserve Bank of Atlanta. No amounts were
outstanding on these lines of credit at September 30, 2022.

We are committed to maintaining a strong liquidity position. We monitor our
liquidity position on a daily basis. We anticipate that we will have sufficient
funds to meet our current funding commitments. Based on our current strategy to
increase our loan portfolio, we will seek to increase core deposits and use
Federal Home Loan Bank of Atlanta advances as well as brokered certificates of
deposit as needed.

Capital Requirements

At September 30, 2022, the Bank's Tier 1 capital as a percentage of the Bank's
total assets was 16.30%, and total qualifying capital as a percentage of
risk-weighted assets was 23.86%. As of September 30, 2022, the Bank was
classified as "well capitalized" for regularity capital purposes. Note 6 to the
Financial Statements describes the regulatory capital requirements applicable to
the Bank.

                                       37
--------------------------------------------------------------------------------

Off-balance sheet arrangements and global contractual obligations

Commitments. Note 5 to the financial statements describes off-balance sheet risky financial instruments that we enter into in the normal course of our business to meet the financing needs of our customers.


Contractual Obligations. In the ordinary course of our operations, we enter into
certain contractual obligations. Such obligations include data processing
services, operating leases for premises and equipment, agreements with respect
to borrowed funds and deposit liabilities.

© Edgar Online, source Previews

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Alaska Native nonprofit puts culture at the forefront of substance abuse prevention https://grantstation-trendtrack.com/alaska-native-nonprofit-puts-culture-at-the-forefront-of-substance-abuse-prevention/ Fri, 11 Nov 2022 19:53:17 +0000 https://grantstation-trendtrack.com/alaska-native-nonprofit-puts-culture-at-the-forefront-of-substance-abuse-prevention/

CITC organizes berry picking outings for youth as part of its drug prevention services. (Photo courtesy of CITC)

This summer, the Cook Inlet Tribal Council took young people berry picking as part of their substance abuse prevention program.

CITC is a tribal non-profit organization that calls itself a “culturally responsive social service organization”. Dr. Angela Michaud is the Senior Director of Recovery Services at CITC.

“With our wild blueberries, we didn’t have enough to do [the jam] for the 50 people who were in the room,” Michaud said. “So we went to Costco and bought some blueberries and mixed them with the wild blueberries and made our jam that way.”

She said adapting village traditions to a city like Anchorage helps young people tap into their culture to improve their health outcomes and reduce addiction rates.

“Anchorage is a huge village,” Michaud said. “He is [about] go out and have that feeling of connection.

barries in jars
A CITC cultural event involves taking young people berry picking and then giving them a jar to take home to their families. (Photo courtesy of CITC)

Prevention through youth engagement

CITC has found through surveys that participants do not use substances when participating in cultural activities.

“It’s a five-hour period where they can say ‘I didn’t drink, use alcohol or drugs’ and they were happy,” Michaud said.

Building on these promising results, CITC is using two new federal grants to place Alaska Native cultural education at the forefront of its drug prevention programs.

“What we do is we implement a culture of healing [to] prevent smoking, alcohol, drug addiction and suicide,” said Michaud.

With some of the money, they can host monthly cultural events targeting Alaska Native youth and their family members.

Chris Delgado comes from an Inupiaq family and acts as a prevention supervisor, directing these activities for the CITC. He grew up in Anchorage.

“I missed some of the cultural activities going on,” Delgado said. “It’s going to be slowly forgotten if we don’t stop and do something about it. As long as we can involve young people, I think we are in good shape.

CITC’s prevention activities include more conventional training, such as how to use naloxone, a drug that reverses opioid overdoses. But it also offers lessons in dancing, walrus ivory carving, berry picking, traditional storytelling, ice fishing and hooligan net fishing.

a sculpted tusk
Young people participate in tusk carving cultural activities as part of the CITC program. (Photo courtesy of CITC)

These programs aim to build the confidence of Indigenous youth and teach life skills that participants can learn and share, Michaud said.

A case for connectivity

A recent article published in a leading medical journal pointed out that teens who feel more connected to their community, peers and families have up to 66% less risk of substance use.

Robert Blum of Johns Hopkins University is an expert on adolescent health and the lead author of the article. He pointed out that studies have long shown that conventional information-based addiction prevention strategies for young people have no effect on young people – and sometimes even have negative effects. He advocates treating “young people as resources rather than problems”.

CITC has a program that uses young people in long-term recovery as a resource, hiring them to help teach their peers.

“They are able to share their experiences with others to help them succeed in the program,” said Michaud.

Small details, like providing food options that are part of traditional Indigenous diets, bring these communities of peers together.

“People started getting used to eating salmon, and then this year we finally got to get them out there so we could fish it,” she said. “And they took their own fish and brought it back. It’s just the excitement and the stories that came out of it.

As a result of this program, she cites a decrease in recidivism rates and an increase in the number of participants who complete the program and obtain employment and housing.

“We don’t just want to survive,” Michaud said. “We thrive [when] we brought this stuff to the table. We were overcoming our adversities, and it feels different.

A reversed model

Michaud says many prevention programs take a Western medicine curriculum and simply add Indigenous words to it. But the CITC team has built its entire course on culture. She says Western models are secondary.

“You teach them to connect with nature and bring people outdoors away from distractions, drugs, alcohol and abuse,” Michaud said.

And these events are not just one-off encounters. Many youth attendees join one event and then go on to enroll in others, even getting involved in other programs offered by CITC to boost employment and education graduation rates secondary.

A group collected seeds and planted them in a community garden. Once ripe, the food went to the Alaska Native Health Center so patients could eat traditional foods.

“And how that relates to our culture is that we’ve had so much trauma over the last two, three generations that a lot of the culture has been taken away,” Michaud said.

She says Native and Alaskan Native people have led healthy lifestyles for thousands of years, and only in the last few hundred years have they had these health issues. related to addiction.

“We were fine and then we weren’t,” she said. “And now we just go back to what we know and we’re fine.”

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How Anti-Semitism Affects Central Coast Jewry https://grantstation-trendtrack.com/how-anti-semitism-affects-central-coast-jewry/ Tue, 08 Nov 2022 22:05:00 +0000 https://grantstation-trendtrack.com/how-anti-semitism-affects-central-coast-jewry/ As the rate of anti-Semitism continues to grow, the Central Coast Jewish community remains vigilant. This prompted the Security Community Network, a nonprofit that oversees Jewish community security, to issue an emergency notice to synagogues across the country. On Monday, the FBI said the source “no longer poses a threat to the community.” a model, I mean, it’s a model that when there are problems in a country where people often look for scapegoats, and this has happened to Jews for centuries, ”Paula Marcus, the chief rabbi of the temple of Beth El in Aptos, said. According to the Anti-Defamation League, in 2021 there were more than 2,700 reported incidents of anti-Semitism, marking the highest since 1979. “I’m not afraid to come to synagogue though, I’m not afraid to walk around with my Jewish star,” Marcus said. Jewish community leaders say there are no known reports of anti-Semitism in Monterey or Santa Cruz County, but synagogues on the Central Coast are still planning to act. Over the past five years, the Beth El temple in Aptos has added many security measures, including a gate, a two-door locking system and cameras. Soon the temple will add rocks near from the main entrance to prevent cars from crashing into the building. The project is funded by local donations and federal grants. “It’s sad we have to do this, but I’m so glad we’re there “said Marcus. Several synagogues on the central coast dis ent intend to take advantage of federal grants to implement or improve their security measures. “There’s a Yiddish saying that hope for the best, expect the worst,” said Margaret Bruner, the cantor of Temple Beth El in Salinas. Meanwhile, Temple Beth El in Salinas hopes to defuse racial tensions by hosting an event called Miracles Without Borders: The Survival of the Findling Five in Nazi Germany. Rhonda Findling, descendant of Holocaust survivors, will share her family’s story. The event will take place on November 9, the 84th anniversary of Kristallnacht, from 7-8:30 p.m. at 1212 Riker St. with others,” Bruner said.

As the rate of anti-Semitism continues to grow, the Central Coast Jewish community remains vigilant.

The most recent widely known threat emerged when the Federal Bureau of Investigations posted on Twitter that it had probable cause for a broad threat to synagogues in New Jersey.

This prompted the Security Community Network, a nonprofit that oversees Jewish community security, to issue an emergency notice to synagogues across the country.

On Monday, the FBI said the source “no longer poses a threat to the community.”

“It’s a pattern, I mean, it’s a pattern that when there are problems in a country where people often look for scapegoats, and this has happened to Jews for centuries,” Paula Marcus, the Chief Rabbi of the Temple of Beth El in Aptos, says.

According to the Anti-Defamation League, in 2021 there were more than 2,700 reported incidents of anti-Semitism, marking a record since 1979.

“However, I’m not afraid to come to synagogue, I’m not afraid to walk around with my Jewish star,” Marcus said.

Jewish community leaders say there are no known reports of anti-Semitism in Monterey or Santa Cruz County, but Central Coast synagogues are still planning to take action.

Over the past five years, Temple Beth El in Aptos has added many security measures, including a door, a two-door locking system, and cameras. Soon the temple will add boulders near the main entrance to prevent cars from crashing into the building. The project is funded by local donations and federal grants.

“It’s sad that we have to do this, but I’m really glad we’re here,” Marcus said.

Several synagogues on the Central Coast say they intend to take advantage of federal grants to implement or improve their security measures.

“There is a Yiddish saying that hope for the best, expect the worst,” said Margaret Bruner, the cantor of Temple Beth El in Salinas.

Meanwhile, Temple Beth El in Salinas hopes to defuse racial tensions by hosting an event called Miracles Without Borders: The Survival of the Findling Five in Nazi Germany. Rhonda Findling, descendant of Holocaust survivors, will share her family’s story.

The event will take place on November 9, the 84th anniversary of Kristallnacht, from 7-8:30 p.m. at 1212 Riker St.

“In this very, very charged atmosphere that we find ourselves in, we have to learn to dialogue and communicate with each other,” Bruner said.

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EPA provides federal grants to local air monitoring projects throughout Colorado https://grantstation-trendtrack.com/epa-provides-federal-grants-to-local-air-monitoring-projects-throughout-colorado/ Thu, 03 Nov 2022 23:42:41 +0000 https://grantstation-trendtrack.com/epa-provides-federal-grants-to-local-air-monitoring-projects-throughout-colorado/

Tri-County Health Department: $403,996

The local public health department will use the grant to expand an air monitoring network to measure particulate matter. Data will be shared on an online dashboard.

United Black Parents Foundation: $472,656

The Denver-based nonprofit will use the money to set up an air monitoring network in Aurora. Data on ozone, methane, volatile organic compounds and particulate matter will be shared via an online dashboard.

350 Colorado: $498,537

The climate advocacy group will use the funding to install air monitors near Bella Romero Academy’s 4-8 campus.

The school is near an active oil and gas site. Colorado Department of Public Health and Environment recorded high levels of carcinogenic benzene near schools in 2019. It then stopped surveillance near the school after deciding there was no continued threat to public health.

The Greeley-Evans School District rejected an offer to set up new monitors earlier this year, saying the data would not have been consistent with past air monitoring techniques.

Patricia Garcia-Nelson, 350 Colorado board member and mother of a student at Bella Romero Academy, said the new grant will allow the organization to hire Boulder Atmosphere Innovation Research LLC to establish a long-awaited air monitoring. Real-time data will be posted on a public web portal.

“Dozens of families petitioned, we wrote letters to shut down the wells or at the very least allow air monitoring on school grounds. When it comes to protecting our children, we don’t give up.

City of Fort Collins: $499,139

Fort Collins will deploy air monitors to measure airborne toxins near oil and gas operations in Larimer County and western Weld County. A mobile air surveillance van will further facilitate operations.

Culture: $500,000

Cultivando is a non-profit organization based in Commerce City that focuses on environmental issues and public health. Last year, he secured state funding to deploy air monitors in neighborhoods near Suncor’s Commerce City refinery. The new federal money will allow it to continue to operate these stations and deploy a mobile air monitoring van.

“We are delighted that these funds allow us to continue monitoring for another year,” said Olga Gonzalez, director of Cultivando. “We realized early on that a year would not be enough time to collect enough data to give us a clearer picture of the air pollutants released from the local Suncor oil refinery.”

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Gen Z doesn’t see the point of getting a degree. Here’s how to fix college ROI https://grantstation-trendtrack.com/gen-z-doesnt-see-the-point-of-getting-a-degree-heres-how-to-fix-college-roi/ Mon, 31 Oct 2022 12:11:00 +0000 https://grantstation-trendtrack.com/gen-z-doesnt-see-the-point-of-getting-a-degree-heres-how-to-fix-college-roi/ The Biden administration’s plan to forgive up to $20,000 in student loans has been welcomed by many borrowers. However, this does not solve the underlying problem, which is the cost of higher education in America. According to some estimates, we will be back to $1.6 trillion in student debt just five years from now.

College ROI is broken, and Americans know it. More than half of adults do not think the economic benefits of a university degree outweigh the cost. In recent years, most universities have experienced a decline in college enrollment. At a time, more than 90% of HR professionals say they appreciate the rise of alternative degrees that teach job-related skills, just as one company after another proudly announces the removal of the college degree requirement for job applicants.

So should students forgo college? Not if they want to make more money. College generally remains the best route to higher-paying careers, with lifetime earnings 84% ​​higher for college graduates than for those whose highest qualification is a high school diploma. My conversations with HR professionals also suggest that changes to company policy don’t necessarily translate into actual hires of people without degrees.

The “return” to going to university is clear; it is “the investment” that is the problem. To fix the return on investment equation for students, we need to make higher education more affordable. The reality is that free college is already within reach for millions of Americans, but only if two-year college degrees are counted.

The two-year associate degree, typically conferred by community colleges and primarily seen as a stepping stone to a four-year degree, deserves a more prominent place in the landscape of American higher education.

The number one reason is cost. Community college is already essentially free for those who need support the most. Since 2009, the average first-time full-time student at a two-year college has received enough financial aid to cover all of their tuition and fees. At two-year colleges, the average tuition and fees are $3,800 per year, while the estimated expenses for supplies and textbooks are $2,400 per year. For students who receive the maximum Pell Grant of $6,895, federal grants can cover both categories and qualify for an additional $695 for living expenses. It is a fully funded college for students and more, today.

A two-year college degree easily passes the ROI test with decades of graduate earnings data. Individuals whose highest level of education is an associate’s degree earn 51% more than high school graduates without college. The opportunity cost of a two-year degree is also more manageable for students who need to earn a living while leaving the door open to pursue a bachelor’s degree later in their career.

Two-year colleges originated in the United States over 150 years ago contribute to broadening access to public higher education. Today, there are over 1,000 community colleges in the United States that serve this purpose. However, we should not treat community college as a funnel leading to a bachelor’s degree. Instead, we should use this existing infrastructure across the country to reinvent the associate degree as a stand-alone career-enhancing degree.

As workforce needs evolve and encompass educational paths beyond a bachelor’s degree, an associate’s degree is the obvious next option that is already free for many Americans and has been proven to increase the income for life. The benefits of a two-year degree will be enhanced as degree programs better align with workforce needs. We need community colleges and other institutions of higher learning to design more associate degrees that incorporate job skills training. Students must graduate from a community college with both an associate’s degree and an employer-approved certificate in areas such as analytics, coding, or marketing.

Reinventing the two-year college degree could not only prepare students for jobs, but also save liberal arts education as we know it. Associate degrees will continue to serve as a pathway to a four-year college and will help many students reduce the overall cost of their education. As the son of a college teacher, I was only able to attend Boston University by transferring my classes to a community college.

The vast majority of students who attend community college do so with the intention of moving on to a four-year degree program, but only 13% of students starting community college earn a bachelor’s degree in six years. Clearly, the four-year college degree doesn’t work for the vast majority of Americans: 39 million adults started four-year programs but did not graduate.

The data is indisputable: We need to stop telling high school students that going into debt to get a bachelor’s degree is the only path to the middle class and above. As the return on investment of traditional college deteriorates, GenZers will not blindly accept the debt incurred by previous generations. A recent study revealed that nearly half of students aged 14 to 18 believe post-secondary education should be two years or less.

Now is the time to recognize that a four-year college degree is valuable (if you have the time and resources) – but two years of college education may be just what some people need to launch a career that supports their family without the burden of debt.

Aaron Rasmussen is the CEO and Founder of Outlier.org and the co-founder of MasterClass.

The opinions expressed in Fortune.com comments are solely the opinions of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

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MDOT meets with Calvert officials to discuss transportation priorities https://grantstation-trendtrack.com/mdot-meets-with-calvert-officials-to-discuss-transportation-priorities/ Fri, 28 Oct 2022 10:20:58 +0000 https://grantstation-trendtrack.com/mdot-meets-with-calvert-officials-to-discuss-transportation-priorities/

PRINCE FREDERICK, MD (October 25, 2022) – Maryland Assistant Secretary of Transportation Earl Lewis and other Maryland Department of Transportation (MDOT) officials met with Calvert County officials to discuss MDOT’s six-year anniversary. Draft consolidated transportation program for fiscal year 2023-2028 (PTC). The CTP project provides a record investment of $19.9 billion over six years to replace and repair aging infrastructure, expand transit options, support Maryland’s economic recovery, and preserve and expand Maryland’s transportation network. ‘State.

The proposed TCO for fiscal year 2023-28 is almost $2.2 billion higher than the final TCO for fiscal year 2022-27. It is using $1.3 billion in additional funds under the federal bipartisan infrastructure investment formula. Jobs Act (IIJA) passed by Congress last fall, along with better post-pandemic revenue estimates and an increased share of state corporate tax revenue allocated to MDOT.

“This is Maryland’s largest six-year capital transportation budget,” said MDOT Secretary James F. Ports, Jr. “The CTP project makes a smart investment in Maryland’s future and uses a additional federal funding and other resources to create jobs, support the state economy, complete priority projects, and provide hundreds of millions of additional dollars in road user revenue to local jurisdictions.”

Each year, MDOT officials tour Maryland’s 23 counties and the city of Baltimore to educate local officials and the public about the CTP project and its investments in MDOT business units funded by the Transportation Trust Fund of State: Maryland Aviation Administration (MAA), State Highway Administration (SHA), Maryland Port Administration (MPA), Maryland Transit Administration (MTA), Motor Vehicle Administration (MVA) and the Secretary’s Office. At the Calvert County meeting, officials also discussed the Maryland Transportation Authority’s (MDTA) $2.6 billion in additional investments in the state’s toll roads and bridges.

The CTP project for the fiscal year 2023-2028 proposes to invest 35% of the budget over six years, or $6.9 billion, in the preservation of the system in order to obtain and maintain in good condition the national roads, bridges, public transportation, airports and the Port of Baltimore in Maryland. This investment is $800 million more than last year’s CTP program.

Assistant Secretary Lewis said the CTP project provides a dramatic increase in transportation and infrastructure funding for local governments through the state’s Highway User Revenue Program.

Following the bipartisan agreement that Governor Larry Hogan brokered with lawmakers during the 2022 Maryland General Assembly session, HUR funding for local jurisdictions will gradually increase from fiscal year 2024 through fiscal year 2027. Overall, jurisdictions will receive an anticipated 33% increase over the next six years to help advance transportation priorities and provide matching funds to capitalize on federal grants.

Assistant Secretary Lewis noted that the majority of federal funding flowing to Maryland through the IIJA was the state regular formula funding already allocated in the final CTP of fiscal year 2022-2027.

However, the proposed CTP program for the 2023-2028 fiscal year has $1.3 billion of “new” federal IIJA funding formula: $166 million for public transit, $178 million for airports and $966 million for highways. These allocations are based on the federal formula outlined in the IIJA by the federal government.

The assistant secretary said MDOT continues to work closely with federal partners on programming criteria for additional transit and highway projects. Some additional funds may be available to state and local jurisdictions through discretionary grants that are part of the IIJA and other longstanding federal grant programs. MDOT will continue to work with local jurisdictions when applying for available grants.

Assistant Secretary Lewis said the additional IIJA funding will contribute to the long-term state of good repair investments and fulfill Gov. Hogan’s commitment to advance at least one new priority project in every county and across the province. Baltimore city. For Calvert County, the CTP project for fiscal year 2023-2028 includes funding for the improvement of the MD 231 corridor in Prince Frederick. The project will improve safety and mobility at three locations – between Mason Road and Toye Lane, MD 508 (Adelina Road) and Skipjack Road/Sixes Road.

He said under Governor Hogan’s leadership, MDOT has accomplished a lot over the past eight years, including making improvements to make Maryland’s roads and bridges safer and less congested. In terms of bridges, the state repaired or replaced all 69 poorly rated spans identified in 2015. Today, MDOT has 26 poorly rated bridges—an all-time low—and all are under construction, under construction funding, or in design.

The assistant secretary also noted investments focused on new technologies and expanding Maryland’s labor market and economy, including:

  • converting MDTA to all-electronic tolling statewide;
  • infrastructure investments at the Port of Baltimore, Maryland, which have helped keep the state’s supply chain open and fluid during the pandemic, and
  • dramatic expansion of cargo operations at BWI Thurgood Marshall Airport. BWI now handles more air cargo than Reagan National and Dulles airports combined.

Regarding highways, SHA Administrator Tim Smith spoke about the agency’s work to maintain and expand the state’s highway system to meet current and future needs. He underscored SHA’s focus on core accessibility, mobility and asset management goals – ensuring the state’s road infrastructure is in good condition and using new technologies and innovative strategies. .

Administrator Smith also highlighted SHA’s ongoing collaboration and partnership with the county. This summer, SHA began improving intersections at MD 4 and Mount Harmony Road began. This project will help improve safety and access and relieve congestion along MD 4.

This fall, SHA is beginning safety upgrades and sidewalk resurfacing MD 261 (Bayside Road) from Chesapeake Village Boulevard to 1st Street in Chesapeake Beach. Additionally, SHA is working on upgrading the guardrails at MD 2 southbound from MD 262 at Cox Road and will begin other guardrail upgrades along MD 2 this fall and winter.

MDTA Reminds Customers to Pay Video Toll Bills: 36 Days to November 30 Deadline

MDTA Executive Director Will Pines provided an update on the $28 million Chesapeake Bay Tier 2 crossing study that Governor Hogan launched in June. The Tier 2 study is part of the National Environmental Policy Act (NEPA) process and is expected to take four to five years. It will build on the findings of the Tier 1 study, which identified Corridor 7, the corridor containing the existing Bay Bridge, as the selected corridor alternative. MDTA recently held a series of open house events to inform residents and other stakeholders of the Tier 2 schedule and opportunities for feedback. More details are available at baycrossingstudy.com.

Those with unpaid video toll bills from bridges and toll roads in Maryland still have 36 days left in MDTA’s civil penalty waiver grace period, which began in February and runs until 11:59 p.m. November 30, 2022. The civil penalty is waived for each video toll. transaction paid in full during the grace period.

The agency also stopped returning unpaid toll bills to the Central Collection Unit (CCU) and MVA during the grace period. Beginning December 1, 2022, CCU and MVA referrals will resume, and customers will be responsible for the full amount of all unpaid tolls – plus civil penalties – that will be due based on the printed due dates. She said call volumes and wait times have been significantly reduced and customers can go to https://csc.driveezmd.com/pay-tolls-now or call 1-866-320-9995 for assistance.

MTA focuses on good condition, safety, reliability

MTA Local Transit Support Manager Travis Johnston discussed the agency’s investments and priorities across the state, including investments that ensure the transit system remains safe and reliable. Over the past three years, MTA has significantly reduced the backlog of projects needed to support system health, and MTA recently outlined a plan to reach 98% of those needs by 2031.

To improve passenger services, MTA now offers real-time updates through the Transit app on arrival times and other information for light rail, local buses, commuter buses, MARC and metro, and offers payment of mobile fares with CharmPass and CharmFlex 3- and 10-day Pass.

MTA is making a significant investment in transit in Calvert County by providing nearly $1.3 million in operating and capital grants to support local transit operations.

MVA’s Customer Connect makes more services available online

MVA Administrator Chrissy Nizer told officials that MVA continues to operate by appointment only at its branches and serves more than 75% of branch customers within 15 minutes of their appointment. The agency also offers more online transactions than ever before. MVA’s Customer Connect system improves online transactions and gives customers a complete view of their status and history in one profile. Customers can access features through myMVA.

In May, Maryland became the second state to launch its Maryland Mobile ID in Apple Wallet. Maryland Mobile ID is a voluntary, secure, digitized version of a Maryland driver’s license or ID. It is available in the Apple Wallet or Apple Watch app.

“Administrator Nizer discussed the Hogan administration’s recent announcement of nearly $40,000 for Calvert County agencies to address traffic safety. She also updated MVA’s work to help Marylanders meet the federal REAL ID requirement before the May 3, 2023 deadline. Currently, 87% of Marylanders are REAL ID compliant.


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National assessment shows significant drops in Virginia reading and math scores – The Suffolk News-Herald https://grantstation-trendtrack.com/national-assessment-shows-significant-drops-in-virginia-reading-and-math-scores-the-suffolk-news-herald/ Tue, 25 Oct 2022 23:28:53 +0000 https://grantstation-trendtrack.com/national-assessment-shows-significant-drops-in-virginia-reading-and-math-scores-the-suffolk-news-herald/

National assessment shows significant drops in Virginia reading and math scores

Posted 7:25 p.m. on Tuesday, October 25, 2022

Youngkin urges districts to spend remaining recovery funds

By Nathaniel Cline

Virginia Mercury

With the results of a national education assessment showing significant declines in reading and math, Republican Gov. Glenn Youngkin orders the Virginia Board of Education to raise Virginia’s test standards.

On Monday, the National Center for Education Statistics released the results of the National Assessment of Educational Progress (NAEP), a nationwide examination of fourth- and eighth-grade student achievement. The results showed declines in Virginia in reading and math between 2019 and 2022, and continued declines in fourth graders’ skills since 2017.

“Today, every Virginian sees clearly that our children need us more than ever,” Youngkin said. “Gaps in achievement in the critical areas of math and reading could seriously cloud the bright future of a generation of Virginia students, and that’s why we must and double down on our commitment to Virginians, especially , our commitment to the children of Virginia.”

Assessment officials said average math and reading scores for fourth- and eighth-grade students have declined nationally.

In August, Virginia Learning Standards test scores also showed declining scores during the pandemic.

Education Secretary Aimee Rogstad Guidera said the NAEP results offer a “clear and heartbreaking” statement that Virginia is failing students and called the “catastrophic decline” a “foreseeable result of the dismantling decade-long systemic commitment to excellence in education.”

Superintendent of Public Instruction Jillian Balow also accused the two previous Democratic administrations of “systematically” lowering academic standards and expectations and downplaying assessment data showing declines.

“Using SOL scores, we report that two-thirds of fourth graders do well, and that’s just not true,” Balow said. “Parents and teachers cannot act unless they all know that we are nowhere near two-thirds competent with our students.”

Senate Democrats pushed back against the Republican administration’s claims.

In a joint statement, the senses. Mamie Locke, D-Hampton, Louise Lucas, D-Portsmouth and Ghazala Hashmi, D-Chesterfield, challenged the idea that their party had lowered education standards.

“We have staffing shortages in Virginia schools, students aren’t getting the resources to set every child up for success, and many schools need funding for structural improvements to improve the quality of learning. education,” Lucas said. “Now is not the time to point fingers at those who are no longer in charge.”

Youngkin announces his priorities, including grants and tutoring services

On Monday, Youngkin presented a series of proposals that he says will help stem learning loss. Last month, he announced plans to address Virginia’s teacher shortage through measures such as hiring retired educators.

The governor said his administration is investing $30 million in learning recovery grants to help parents connect their children to one-on-one lessons or a virtual tutor and announced the launch of partnerships with Khan Academy and Schoolhouse, two organizations that provide educational resources and tutoring services.

Additionally, the administration said it plans to expand its Bridging the Gap pilot program, which aims to provide school divisions with additional resources and data to close learning gaps, from 15 to 25 schools. .

As part of Bridging the Gap, parents, students, and teachers will receive individual reports on each student’s academic progress and learning plans in grades 4 through 12.

Governor tells schools to spend remaining federal funds

Youngkin urged school districts to spend their remaining federal stimulus funds to close achievement gaps. Virginia has nearly $2 billion in unspent funds that “could be spent on proven efforts to restore learning,” he said, including extended school years and bonuses for teachers. .

School divisions have until Dec. 31 to update their spending plans at the direction of the governor.

The governor singled out several school divisions for having millions available, including Fairfax and Henrico counties and the cities of Norfolk, Richmond and Virginia Beach.

“The money is in the bank,” Youngkin said. “It should be spent on things that will put our kids back on track for success. This is why the money was given to you. Put it to work.

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OSF St. Francis Hospital to Build New Cancer Center https://grantstation-trendtrack.com/osf-st-francis-hospital-to-build-new-cancer-center/ Sun, 23 Oct 2022 06:32:09 +0000 https://grantstation-trendtrack.com/osf-st-francis-hospital-to-build-new-cancer-center/

CLICK TO HEAR JACK HALL’S INTERVIEW WITH KELLY JEFFERSON

CLICK TO HEAR JACK HALL’S INTERVIEW WITH TODD LAFAVE

OSF St. Francis Hospital in Escanaba on Friday announced plans to build a new cancer center, providing more space for the oncology services that will be offered there.

He will be named after the late Dan Kobasic, whose foundation made a “significant donation” to the OSF fundraising campaign. The center will also use $1.5 million in federal grants.

“Our involvement depended on the involvement of the federal government,” said Todd LaFave of the Kobasic Foundation. “When OSF started building a cancer clinic, it was a natural fit for us. Dan had been hospitalized here briefly before his death, and the care from the nurses and doctors was just fabulous. So it didn’t take long for us to decide that we were going to get involved.

St. Francis Hospital President Kelly Jefferson said the plan was to use space where the former kidney dialysis center was located, space more recently used to drive through COVID testing services. -19.

“We are thrilled to finally begin construction on our new cancer care building,” said Jefferson. “It will really expand our cancer care capabilities. It’s improved simply by our ability to process more people more efficiently and faster. We are currently landlocked. We are limited in the current space in which we find ourselves. So we will have extra treatment days, and for things like consultations, so that you can meet in a comfortable environment to talk about the treatment plan you will need.”

Jefferson says the first shovels of earth should be moved within a week or two, with construction wrapping up late next spring or early summer.

Jefferson also thanked U.S. Senator Gary Peters (D-Mich.) for his involvement in securing the $1.5 million grant that made the project possible. Peters was on his way to Escanaba from Lower Michigan on Friday when his plane turned back due to mechanical issues, delaying his UP trip.

Peters did, however, release a statement.

“OSF St. Francis plays a vital role in ensuring residents and families across the region can access the medical care they need,” Peters said. “That’s why I was proud to help secure federal funding to establish this new facility, which will help OSF St. Francis meet its growing demand for cancer care and expand and improve services.” offered to patients. »

Oncology services at OSF St. Francis are provided through a collaboration between OSF and Green Bay Oncology, a relationship that has served the local community since 1994. When this facility is complete next year, they will have more room to provide these treatments.

KOBASIC CANCER CENTER APPOINTMENT ANNOUNCEMENT VIDEO

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