
Utility Wins Contract Extension as Technology Provider for St. Louis Metropolitan Police Department
'Today's decision confirms Utility's track record of service to frontline professionals in the greater St. Louis area,' said Jason Dombkowski, head of government relations for Utility. "We are gratified to continue to support the officers of St. Louis." Share
Utility has been a partner to the City of St. Louis since winning a competitive bid in 2020 to provide the St. Louis Police Department's officer-worn cameras and in-car video recording technology. Since 2019, the company also has served as the technology provider for the St. Louis County Police Department. Additionally, Utility provides digital evidence management for the Circuit Attorney for the City of St. Louis as well as a number of other surrounding agencies.
'Today's decision confirms Utility's track record of service to frontline professionals in the greater St. Louis area,' said Jason Dombkowski, head of government relations for Utility. 'Since winning the competitive procurement process many years ago, Utility has continued to follow the city's established procurement rules and regulations. We are proud to lead the industry with our policy-based automatic recording tech, including the BodyWorn camera that automatically alerts and records during officer-down situations. We are gratified to continue to support the officers of St. Louis for years to come.'
For more than 20 years, Utility has developed best-in-class digital evidence solutions for the public safety sector and the communities it serves. As public safety moves toward greater integration, real-time intelligence, and streamlined operations, Utility's platform offers scalability and future-proof technologies that adapt to the evolving needs of law enforcement agencies, ensuring they stay ahead of the curve.
Utility's policy-based recording technology is endorsed by the NAACP National Board of Directors. Notably, the company was named to Government Technology's esteemed GovTech 100 list earlier this year, honoring the top companies making significant contributions to the public arena.
About Utility
Utility specializes in advanced technology solutions tailored for the vital work of first responders and public safety professionals. With a concentrated focus on law enforcement, Utility's reach extends to correctional institutions, educational campuses, and legal practitioners within county and municipal jurisdictions. Utility offers a robust digital evidence management system that centralizes body-worn cameras, in-car videos, and automatic license plate recognition technologies. This innovative platform fosters efficiency and integration in evidence handling, promoting enhanced legal outcomes and community protection.
Based in Decatur, Georgia, Utility is committed to pioneering solutions that support the heroes on the front lines and is proud to partner with sister brands including SOMA Global, STRAX Intelligence Group, and Kologik to bring unified innovation to the public safety sector. For an in-depth look at Utility's contributions to public safety, visit LinkedIn or utility.com.
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Net interest income of $14,808,000 for the second quarter 2025 was up $2,448,000 from the second quarter 2024 reflecting an increase in total interest and dividend income of $1,467,000 and a decrease of $981,000 in total interest expense. The fully-tax equivalent net interest margin was 4.04% for the second quarter 2025 as compared to 3.43% for the second quarter 2024. For the second quarter 2025, a $254,000 provision for credit losses was recorded compared to $29,000 for the second quarter 2024. As of June 30, 2025 and December 31, 2024, the allowance for credit losses to total loans was 0.88%. Total non-interest income decreased $182,000 to $2,237,000 for the second quarter 2025, compared to the second quarter 2024 amount of $2,419,000. Realized losses on available-for-sale debt securities, net, totaled $426,000 for the second quarter 2025 compared to $0 for the second quarter 2024. This change was partially offset by increases in brokerage income and trust income of $60,000 and $76,000, respectively, due primarily to higher assets under management, and an increase in gains on marketable equity securities of $52,000 due to market value changes comparing the second quarter 2025 to the second quarter 2024. Total non-interest expense increased $662,000 from $9,194,000 for the second quarter 2024, to $9,856,000 for the second quarter 2025. Salaries and employee benefits expense of $4,984,000 for the second quarter 2025 increased $344,000 from $4,640,000 for the second quarter 2024. This increase was related to health insurance expenses associated with the Corporation's partially self-funded health insurance plan which were $397,000 higher in the second quarter 2025 than the second quarter 2024. Additionally, data processing and telecommunications expenses increased $174,000 comparing the second quarter 2025 to the second quarter 2024 due to ongoing pricing increases and one-time charges in conjunction with the implementation of new products. Total assets amounted to $1,616,215,000 at June 30, 2025, as compared to $1,595,958,000 at December 31, 2024. For the six months ended June 30, 2025, cash and cash equivalents increased $23,332,000, available-for-sale debt securities decreased $30,484,000 and loans receivable, not held for sale, increased by $31,135,000. Total liabilities amounted to $1,439,940,000 at June 30, 2025, as compared to $1,429,548,000 at December 31, 2024. Total deposits increased $68,634,000 while short-term borrowings decreased $50,267,000 and long-term borrowings decreased $10,085,000 during the six months ended June 30, 2025. 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Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: changes in general economic trends, including inflation and changes in interest rates; our ability to manage credit risk; our ability to maintain an adequate level of allowance for credit loss on loans; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; fluctuations in the values of securities held in our securities portfolio, including as a result of changes in interest rates; our ability to successfully manage liquidity risk; adverse developments in borrower industries and, in particular, declines in real estate values; the concentration of large deposits from certain customers who have balances above current FDIC insurance limits; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and any other risks described in the 'Risk Factors' sections of reports filed by the Corporation with the Securities and Exchange Commission. 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