Latest news with #PFBC
Yahoo
14 hours ago
- Business
- Yahoo
PFBC Exec Tim Schaeffer explains the catch and release of federal funding
ERIE – Tim Schaeffer, Executive Director of the Pennsylvania Fish and Boat Commission, has proven to be a hands-on leader who relates well, isn't afraid to dig in on difficult subjects, and always strives to be a clear and open communicator. That trend continued recently as Schaeffer traveled to Erie to brief members of the Pennsylvania Outdoor Writers Association on agency updates, including a breakdown of how federal funds are obtained and redistributed. 'Federal revenue – which represents roughly one-fourth of PFBC's total funding – comes from a national excise tax on fishing and boating gear,' Schaeffer explained. 'This money is allocated via a formula that is based on geographic location and fishing license sales.' The Sport Fish Restoration Act, also known as the Dingell-Johnson Act, was enacted in 1950 to provide federal funding to state fish and wildlife agencies for restoration, conservation, management and enhancement of sport fishing opportunities. In 1984, that program was expanded by the Wallop-Breaux Amendment to include excise taxes on a wider variety of fishing equipment, including motorboat fuel, imported boat duties and fishing tackle. This amendment provided additional funding for boating access development and aquatic resource education programs, essentially creating a system through which the consumer directly benefits from the dollars they spend. Anglers and boaters purchase equipment to enjoy their favorite pastimes, and a portion of their investment comes right back to improve fishing access while ensuring abundant, sustainable fish populations in well- managed fisheries. According to PFBC reports, the U.S. Fish & Wildlife Service, which manages the Sport Fish and Wildlife Restoration budget, apportioned $381,827,198 in grants to state sport fish programs during the 2024 federal fiscal year. The program's North Atlantic- Appalachian Region received $62,573,512 for distribution among 14 states, with Pennsylvania receiving $9,320,492 – the largest apportionment to any state in the region. Of this total, $7,922,419 was allocated for freshwater fish and $1,398,074 was earmarked for boating access. 'This funding represents a significant portion of the PFBC's annual budget, and we've been able to steward that apportionment through a variety of programs that share these federal funds,' Schaeffer said. Fisheries Management receives the largest slice of the pie for studies that assess the impact of management techniques, including stocking, wild fish, habitat modifications and regulations on respective fisheries to meet program objectives. Aquatic Resource Education provides educational opportunities and outreach activities to target audiences, including the development and delivery of materials and training to aid in angler recruitment, reactivation and retention. Another portion goes to Maintenance of Public Access Facilities, including approximately 250 PFBC-owned and managed facilities that were acquired or developed with both federal and non-federal funds, to provide fishing and boating opportunities. Fifteen percent of Dingell-Johnson funds must be used on Recreational Boating Access, so the PFBC's Boating Facility Grant Program provides grants to eligible entities for the construction and improvement of public boat access facilities. Another program, the Boating Infrastructure Grant provides funding for tie-up and docking facilities for transient, non-trailered vessels such as scenic river cruise boats in Pittsburgh and Philadelphia that bring economic value to the area. The Clean Vessel Act supports the construction, renovation, operation and maintenanceof pump-out stations and waste reception facilities to meet the needs of recreationalboaters at public marinas and locally operated boat access areas. Lastly, Recreational Boating Safety has been prioritized, as the program helps fund the development and delivery of effective public boating education programs, implementation of strategies to reduce boating fatalities and incidents, and the enforcement of boating laws and regulations. Even with budget changes at the national level, Schaeffer is optimistic that this critical funding will remain intact, which should help prevent an increase in fishing license costs. 'We think these excise taxes are safe, because they are applied directly by the manufacturers into the consumer pricing, and it is extracted as 10-percent of the totalsale,' Schaeffer said. 'I've walked through the halls of outdoor shows, explaining to vendors how we use these excise tax dollars. 'Most businesses didn't know what their money was going towards, but they were pleased to hear it's being used to directly benefit their customers.' Just like catch-and-release fishing, these funds are redistributed for others to enjoy. (Frantz is a past president of the Pennsylvania Outdoor Writers Association. Contact the writer: outdoors@
Yahoo
23-05-2025
- Business
- Yahoo
Preferred Bank announces new $125M stock repurchase plan
Preferred Bank (PFBC) reported that the shareholders have approved a new $125M stock repurchase plan. Also, on May 8, the bank completed its prior stock repurchase plan. This was the final portion of the bank's $150M repurchase authorized by shareholders in 2023. The final tranche of repurchase activity saw the Bank repurchase 818,059 shares for total consideration of $65.7M over the first and second quarters of 2025. For the entire $150M repurchase, the bank repurchased 2,146,252 shares at an average price of $70.13 per share. For the new $125M repurchase, the bank will be required to gain regulatory approval due to the bank's corporate structure of having no holding company. It is expected that these approvals should be obtained in relatively short order. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on PFBC: Disclaimer & DisclosureReport an Issue Preferred Bank announces Nick Pi as chief risk officer Preferred Bank price target lowered to $96 from $108 at Piper Sandler Preferred Bank Faces Challenges Amid Earnings Call Insights Preferred Bank price target lowered to $90 from $95 at DA Davidson Preferred Bank Reports Q1 2025 Financial Results
Yahoo
03-05-2025
- General
- Yahoo
Pennsylvania monitoring rattlesnake 'baby boom'
(WHTM) — The Pennsylvania Fish and Boat Commission is keeping a close eye on a 'baby boom' while taking every safety precaution. Wildlife officers and trainees conducted a timber rattlesnake survey in Clearfield County. Timber rattlesnakes are native and are also venomous. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Many of the females are pregnant and emerging from their underground dens. 'Females have to have 8 to 10 hours of solar radiation a day to bake their babies, basically bring metabolism up to gestate the young,' Chris Urban with the PFBC said. 'They're just out here trying to survive in their natural habitat and if you're out hiking and come across one, they're not out to hurt you,' Jenna Alleman, trainee, said. 'They just want to protect themselves, so if you leave them alone, they're going to leave you alone. Download the abc27 News+ app on your Roku, Amazon Fire TV Stick, and Apple TV devices There are as many as 2,000 rattlesnakes in Pennsylvania. Once captured, they're checked for previous microchip tags or implanted with a new tag to help study their future growth. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
25-04-2025
- Business
- Yahoo
Preferred Bank: Q1 Earnings Snapshot
LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Friday reported first-quarter profit of $30 million. The Los Angeles-based bank said it had earnings of $2.23 per share. The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.33 per share. The independent commercial bank posted revenue of $118.5 million in the period. Its revenue net of interest expense was $66.7 million, also missing Street forecasts. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on PFBC at Sign in to access your portfolio
Yahoo
17-04-2025
- Climate
- Yahoo
PFBC: Cold-weather life jacket requirement still in effect
PENNSYLVANIA (WTAJ) — The Pennsylvania Fish and Boat Commission (PFBC) is reminding all anglers and boaters that the annual cold-weather life jacket requirement is still in effect. As the weather begins to warm, the PFBC understands that it can be easy to forget the requirement, however, it will be in effect through April 30. From Nov. 1 through April 30, boaters are required to wear a U.S. Coast Guard-approved life jacket while underway or at anchor on boats less than 16 feet in length or on any kayak, canoe or paddleboard. 'This time of year, despite the balmy springtime temperatures, it can be a tragic time for boaters who don't wear their life jackets,' Mark Sweppenhiser, Director of the PFBC's Bureau of Boating, said. 'On sunny days when warm air temperatures draw us outdoors for our favorite activities like fishing and boating, please remember water temperatures are still bitterly cold and present tremendous danger to someone who falls into the water.' Sudden cold-water immersion occurs when a person is unexpectedly plunged into cold water. The PFBC noted that cold-water shock can result in water inhalation, leading to panic, hyperventilation or the inability to swim. While nearly 80% of all boating fatalities occurred because boaters were not wearing life jackets, since the mandatory life jacket wear law was enacted in 2012, the PFBC has seen a 50% drop in boating incidents resulting in fatalities during the cold weather months. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
