OptimumBank Holdings

OptimumBank Holdings, Inc. is a bank holding company for OptimumBank, which offers a variety of community banking services to individual and corporate customers through OptimumBank. Its services include savings, deposits, checking, cash management services, business checking, online banking, and ATM networks. The company was founded on March 23, 2004 and is headquartered in Fort Lauderdale, FL.

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Fort Lauderdale, FL, Dec. 19, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) (“OptimumBank” or the “Company”) today announced today that it is transferring the listing of its common stock to the NYSE American from The Nasdaq Stock Market LLC (“Nasdaq”).

OPTIMUM BANKHOLDINGS TRANSFERS LISTING OF COMMON STOCK TO THE NYSE AMERICAN

Fort Lauderdale, FL, Nov. 08, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) (“OptimumBank” or the “Company”) today reported robust financial performance for the third quarter of 2024. For the three months ended September 30, 2024, the Company achieved net income of $3.3 million, or $0.34 per basic share and $0.32 per diluted share, compared to net income of $1.2 million, or $0.18 per basic and diluted share, for the same period in 2023. This reflects significant growth in both earnings and profitability year-over-year.

OptimumBank Holdings, Inc. Financial Performance for the Third Quarter of 2024

Presentation on October 29, 2024 at 11:30 AM PT OptimumBank invites individual and institutional investors, as well as advisors and analysts, to attend in person or online at LD Micro Main Event XVII 2024 | Sequire Events Los Angeles, California--(Newsfile Corp. - October 15, 2024) - OptimumBank (NASDAQ: OPHC), based in Ft. Lauderdale, FL focused on business and community banking across Florida, today announced that Moishe Gubin, Chairman of the Board, will present live at the 17th annual Main Event on October 29th, 2024 at 11:30 AM PST at the Luxe Sunset Boulevard Hotel.

OptimumBank to Present at the LD Micro Main Event XVII

FT. LAUDERDALE, Fla., Aug. 29, 2024 (GLOBE NEWSWIRE) -- OptimumBank's (Nasdaq: OPHC) industry leading event is just two weeks away, September 12, 2024. The conference will be streamed live on the web, setting the stage as a premier gathering within the finance and economic industries. Top-tier market experts will discuss the current US budget deficit, the direction of interest rates, inflationary and deflationary trends and concerns surrounding geopolitical headwinds. Those interested in viewing this event live, can register at: Virtual Banking Conference .

Two Weeks Away, Two Panels, One Place: The Best of the Best in Economics at the Inaugural Virtual Banking Conference on September 12, 2024, via Live Webcast

Fort Lauderdale, FL, Aug. 06, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) (“OptimumBank” or the “Company”) today reported strong financial performance for the second quarter of 2024. For the three months ended June 30, 2024, the Company achieved net income of $3.5 million, or $.36 per basic share and $0.34 per diluted share, compared to net income of $1.3 million, or $0.18 per basic and diluted share, for the same period in 2023. This reflects significant growth in both earnings and profitability year-over-year.

OptimumBank Holding, Inc. Financial Performance for the Second Quarter of 2024

This is the Finance Industry's Preeminent Banking Conference; The Only Place to Find the Most Notable Leaders and Luminaries Gathered for a Single Event

OptimumBank to Host Inaugural Virtual Banking Conference on September 12, 2024, via Live Webcast

FT. LAUDERDALE, Fla., May 23, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc.  (Nasdaq: OPHC), announced today that it will hold the Annual Shareholder Meeting and Investor Day, on Wednesday, May 29, 2024, at the Company's headquarters in Ft.

OptimumBank Holdings, Inc. To Hold Annual Shareholder Meeting and Investor Day, Wednesday, May 29, 2024 at its Headquarters in Ft. Lauderdale, Florida

Fort Lauderdale, FL, May 16, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., (NASDAQ: OPHC) The Company had net earnings of $2.377 million for the 1st quarter ended March 31, 2024, compared with net earnings of $1.153 million for the 1st quarter ended March 31, 2023, an increase of 106%; in conjunction with $83 million of Stockholders' equity. The Company's only business is the ownership and operation of OptimumBank. To support future growth, the Company issued 2,311,552 common shares in a private placement transaction which closed in the first quarter.

OptimumBank Holdings, Inc. (the “Company”) (OPHC-NASDAQ) Announces First Quarter Results

Fort Lauderdale, FL, March 12, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., (NASDAQ: OPHC) The Company had net earnings of $6.3 million for the year ended December 31, 2023, compared to net earnings of $4.0 million for the year ended December 31, 2022 an increase of 56%; and with $70 million of Stockholders' equity. The Company's only business is the ownership and operation of OptimumBank. To facilitate growth, the Company issued 72,221 shares of its common stock in a private placement transaction to two accredited investors during the first quarter of 2023.

OptimumBank Holdings, Inc. (the “Company”) (OPHC-NASDAQ) Announces Full Year Results

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Fort Lauderdale, FL, Feb. 05, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., (NASDAQ: OPHC) (the “Bank”) ended the year with net income of $13,808,107 before credit loss and tax expenses, or $7,254,285 including those expenses. At December 31, 2023, the Bank had shareholder equity amounting to $70 million. The Bank has been growing assets year over year and ended 2023 at $791,052,397, 35.53% larger than the prior year of $583,693,724. The Bank's loan portfolio increased 40.69% to $680,069,842 over the prior year of $483,382,801. The Bank's secured lending limit has reached $18,749,670 and its unsecured lending limit to $11,249,802. These results are unaudited and do not reflect the consolidation of the Bank with its parent holding company, OptimumBank Holdings, Inc. Such consolidated results may be materially different than the Bank-only results reported above.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces 2023 Full Year Results for OptimumBank (the “Bank”)

Fort Lauderdale, FL, Dec. 08, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., (NASDAQ: OPHC) a (the “Company”) ended the month of October 2023 with assets exceeding $755.7 million, an increase of $43 million as compared to $712.7 million in the prior month. The net change in total assets was partially driven by a $26 million increase in net loans. Since the Company announced entry into Accounts Receivable Financing to Skilled Nursing Facilities at the end of last year, our SNF portfolio has grown to over $28MM. Additionally, since the Company announced seeking entry into the Small Business Administration (SBA) National Lending Program to provide loans to small and middle market companies, the Company is now approved for SBA Lending and has closed it first SBA Loan for $300,000 and has a pipeline of $15MM in various stages of loan underwriting and processing. Additionally, the Company intends to close in the area of $50MM of SBA loans in 2024. Core earnings are a non-GAPP financial measure used by management as an earnings measure to ascertain the profitability of the underlying business of the Company for the month of October 2023 has increased over the past ten months to $1,410,900 as compared to $963,215 reported for the month ended December 31, 2022.1

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Chairman Gubin's comments pertaining to the Board's Strategic Planning - “A successful roadmap for growing our Bank”

Fort Lauderdale, FL, Nov. 09, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) and subsidiary OptimumBank today announced the company's total assets increased by approximately $128 million to $713 million as of September 30, 2023 from $585 million at December 31, 2022, primarily due to increases in loans, cash and cash equivalents. The growth in assets was attributable to the success of the Company's efforts to increase loans that were funded by increased deposits from new customers. Net loans grew by $96 million to $574 million on September 30, 2023, from $477 million at December 2022. Deposits grew by approximately $110 million to $618 million on September 30, 2023, from $508 million at December 31, 2022. The Company has an available credit line of 158MM Federal Home Loan Bank and maintained advances at $10 million during the first nine month of 2023. The Company also has a $13.6 million advance with the Federal Reserve. Total stockholders' equity increased by approximately $4 million to $66 million on September 30, 2023, from $63 million as of December 31, 2022, primarily due to net earnings, proceeds from common stock sales and changes in unrealized loss on debt securities available for sale.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Third Quarter Earnings

Fort Lauderdale, FL, Oct. 06, 2023 (GLOBE NEWSWIRE) -- OptimumBank, a Florida banking corporation (the “Bank”) and wholly-owned subsidiary of OptimumBank Holdings, Inc., ended the third quarter of 2023 with assets exceeding $712 million. Relieved from certain regulatory constraints in 2019, the Board and Management created a Strategic Plan which provided the roadmap for growing the size and profitability of OptimumBank and developing strong and lasting customer relationships along the way. In the last five years beginning with $99.45 million in assets, the Board and Management have grown our Bank by $612 million in additional assets, predominantly with loyal customers having long term relationships with the Bank, its directors, or employees. Through September 30, 2023, the Bank's assets have grown close to $127 million. As the Bank grows, the Board and Management remain focused on maintaining our well capitalized status under regulatory guidelines, enhancing our reputation for consistent and stellar customer service, and performing better than most of our peers in many banking metrics.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Chairman Gubin's comments pertaining to the Board's strategic planning - “A successful roadmap for growing our Bank”

Fort Lauderdale, FL, Aug. 10, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) and subsidiary OptimumBank today announced the company's total assets increased by approximately $47 million to $633 million as of June 30, 2023 from $585 million at December 31, 2022, primarily due to increases in loans, and cash and cash equivalents. The growth in assets was attributable to the success of the Company's efforts to increase loans and deposits from new customers. Net loans grew by $42 million to $519 million at June 30, 2023 from $477 million at December 31, 2022. Deposits grew by approximately $44 million to $552 million at June 30, 2023, from $477 million at December 31, 2022. The Company maintained the Federal Home Loan Bank advances at $10 million during the first six month of 2023. Total stockholders' equity increased by approximately $3 million to $66 million at June 30, 2023, from $63 million as of December 31, 2022, primarily due to net earnings, proceeds from common stock sales and changes in unrealized loss on debt securities available for sale.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Second Quarter Earnings

Fort Lauderdale, FL, June 28, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) Similar to my comments at last year's Annual Shareholder meeting, I want to focus today on our past year's results and discuss our expectations for the remainder of 2023. 2022 was a great year for us, as we had a full year of normalized results. There was barely any income from any one-time events, and we saw our net income pre-tax and pre-allowance jump over 74%. We will discuss earnings later, but our story today is still all about growth. The growth in 2023 is a slower growth as we have managed to hold our loan pricing to a spread over SOFR which brings us to over a 3.5% NIM on current deposit pricing. I, for one, am in favor of slowing growth during this strange time in the world with interest rates being as high as they are. For years, the Company was constrained as to what we were allowed to do because of circumstances that preceded any of our current management or board members. Today I feel we are doing great and now we begin the next phase in the evolution of our bank. I am fortunate to have an excellent team with me on the board of directors and I take seriously the responsibility of being their chairman.

Chairman's Comments for the Annual Shareholder Meeting June 27, 2023

Fort Lauderdale, FL, May 26, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ: OPHC) and subsidiary OptimumBank today announced the company's total assets increased by approximately $37 million to $622 million as of March 31, 2023, from $585 million at December 31, 2022, primarily due to increases in loans, and cash and cash equivalents. The growth in assets was attributable to the success of the Company's efforts to increase loans and deposits from new customers. Net loans grew by $18 million. Deposits grew by approximately $19 million to $527 million as of March 31, 2023 from $508 million at December 31, 2022. The Company increased the Federal Home Loan Bank advances by $15 million to $25 million as of March 31, 2023. Total stockholders' equity increased by approximately $2 million to $65 million at March 31, 2023, from $63 million as of December 31, 2022, primarily due to proceeds from common stock sales and changes in unrealized loss on debt securities available for sale and net earnings.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces First Quarter Earnings

Fort Lauderdale, FL, May 11, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (OPHC-NASDAQ). OptimumBank, a Florida banking corporation (the “Bank”) reports in first quarter of 2023 a pre-tax income of $1,885,000, after a loan loss provision of $765,000. Its loan portfolio increased this quarter to $502 million, or by 4% over the prior quarter's ending balance amount of $483 million. Despite the Federal Reserve raised the federal funds rate multiple times throughout last year, the Bank's net interest margin now portrays a positive trend of recovery beginning at 3.40% in January and reaching 3.66% at the end of March. Noninterest income including service charges on deposit accounts and fees for other banking services generated $729,000 in other income this quarter. At March 31, 2023, deposits have grown to $528,918,000.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces First Quarter Results for OptimumBank

Fort Lauderdale, FL, Feb. 22, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (OPHC-NASDAQ). OptimumBank is excited to announce its entry into providing government loans to small and middle market companies. President and Chief Executive Officer Tim Terry, has selected Chris Tomlinson to head the division as Vice President, SBA Director. Mr. Tomlinson started his career in 2005, as a financial business specialist and has served in various commercial banking positions. Chris is a seasoned corporate banking professional and has extensive experience with every type of government loan.

OptimumBank (the "Bank") Announces OptimumBank's Entry into SMALL BUSINESS ADMINISTRATION (SBA) National Lending

Fort Lauderdale, FL, Nov. 11, 2022 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., (the “Company”) ended the third quarter of 2022 with a pre-tax income of $903,000, after a loan loss provision of $1,374,000. Total Assets are $544.8 million, and the loan portfolio increased this quarter to $438.1 million or by 23.9% over the prior quarter's ending balance amount of $353.5 million. The third quarter net interest margin was 3.53%, down 51 basis points compared to the previous quarter. The loan portfolio growth during this quarter was funded by a higher percentage of interest-bearing liabilities at higher interest rates. Chairman Gubin stated “Overall, we had a solid third quarter, remain on target with our strategic planning and still performing better than most of our peers in most banking metrics.” Non-interest income, including service charges on deposit accounts and fees for other banking services, generated $692,000 this quarter. At September 30, 2022, deposits have grown to over $422.2 million.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Third Quarter Results

Fort Lauderdale, FL, Aug. 30, 2022 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., the parent company of OptimumBank (www.OptimumBank.com), a Florida chartered bank that provides a range of consumer and commercial banking services to individuals and businesses, is pleased to announce the election of Mr. Steven Newman as a member to its Board of Directors. Mr. Newman was elected to fill the vacancy on the Board due to the earlier resignation of director Heng Fai Ambrose Chan. Mr. Newman was also appointed as a director of OptimumBank.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Strengthens Board of Directors with the Election of Mr. Steven Newman, at the August 23, 2022 Board of Directors meeting.

Fort Lauderdale, FL, Aug. 09, 2022 (GLOBE NEWSWIRE) -- OptimumBank, a Florida banking corporation (the “Bank”) ended the second quarter of 2022 with a pre-tax income of $1,266M, after a loan loss provision of $991M. Its loan portfolio increased this quarter to $353,597M or by 27.4% over the prior quarter's ending balance amount of $277,508M. During the second quarter, the net interest margin reflects a positive trend beginning at 3.56% in January and reaching 4.04% in June. Non-interest income, including service charges on deposit accounts and fees for other banking services, generated $764M this quarter. At June 30, 2022, deposits have grown to over $341,819M.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Second Quarter Results for OptimumBank

Fort Lauderdale, FL, May 11, 2022 (GLOBE NEWSWIRE) -- Heng Fai Ambrose Chan has informed the Boards of OptimumBank (the “Bank”) and OptimumBank Holding, Inc. (the “Company”) that he will resign from both Boards effective as of April 30, 2022. In his letter of resignation, Mr. Chan, who resides in Singapore, noted that he was regrettably stepping down due to the time difference and his workload.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Resignation of Board Member

Fort Lauderdale, FL, April 26, 2022 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (OPHC-NASDAQ). Similar to my comments at last year's Annual Shareholder meeting, I want to focus today on our past year's results and discuss what we expect 2022 will look like. We cannot really understand last year without understanding how we arrived at 2021. Our story really is all about growth. For years the Company was limited on what we were allowed to do because of circumstances that preceded any of our current management or board members. I have been fortunate to have an excellent team with me on the board of directors and I take the responsibility seriously as their chairman.

Chairman Comments from the Annual Shareholder Meeting held on April 26, 2022

Fort Lauderdale, FL, April 11, 2022 (GLOBE NEWSWIRE) -- OptimumBank (the “Bank”) ended the year 2021 with total loans of $251,399,000 as compared with $154,919,000 from the year 2020 and $104,189,000 from the year ended 2019. The composition of the Bank's loan portfolio during this period of time included Residential real estate, Multi-family real estate , Commercial real estate, Land and construction, Commercial and Consumer.

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