I see no need for this complex set of calculations.
If you store the time into a time or time stamp field, you can simply use data formatting to display the time in 12 hour format with am and pm designations and none of this is required to do that.
You can enter 22:00 and when you exit the field it will display as: 10:00 pm
You are correct. I was, however, trying to get a result that yields a 'text' answer to incorporate into a text field. Since posting my original question this morning, I have actually come up with the answer. The formula I presented above is from an old forum addressing this issue. I made some changes to their formula and am now getting the results I need. I'll post the new formula in case anyone is interested. Thank you for your response.
The Calculation Result is Text
Let ( [ theData= militaryTime ; theHour= Left ( theData ; 2 ) ; theMinute= Right ( theData ; 5 ) ; theMinuteResult= Left (theMinute ; 2 ) ; theSeconds= "00" ; theSuffix= Case ( theHour ≥ 12 ; "pm" ; "am" ) ; theFInalHours = Mod ( theHour - 1 ; 12 ) + 1 ; theFinalMinutes= Right ( theMinuteResult ; 2 ) ; result= theFinalHours & ":" & theFinalMinutes & " " & theSuffix ]; result )