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OptimumBank Holdings, Inc. (Nasdaq: OPHC) is a bank holding company headquartered in Ft. Lauderdale, Florida. Founded in 2000, it serves as the parent company for OptimumBank, which provides community banking services to both individuals and businesses in Broward, Miami-Dade, and Palm Beach counties. The bank’s core objective is to offer tailored banking solutions, focusing on traditional in-person banking, unlike large financial institutions that often charge exorbitant fees.
OptimumBank’s range of services encompasses consumer and commercial banking, including demand interest-bearing and non-interest-bearing accounts, negotiable order of withdrawal accounts, money market deposit accounts, debit cards, and automated teller machines (ATMs). The principal sources of funds for its lending activities come from deposits, borrowings, loan repayments, and the maturity of investment securities.
The bank is recognized for its expertise in real estate and commercial lending. Recent achievements include significant growth and customer satisfaction driven by competitive rates and personalized banking experiences. Their business and financial solutions include Business Banking, Business Lending, SBA Lending Solutions, Treasury Management, and Personal Banking. These services are designed to meet the financial needs of their diverse clientele, helping businesses and individuals achieve their financial goals.
OptimumBank Holdings, Inc. is committed to maintaining strong investor relations. They regularly update shareholders through annual meetings and provide insights into the company's performance and future plans. The next Annual Shareholder Meeting and Investor Day is scheduled for May 29, 2024, offering both in-person and virtual attendance options. For more details, interested parties can contact Investor Relations at investor@optimumbank.com or call +1.954.900.2850.
Note: Statements provided by OptimumBank Holdings, Inc. are subject to risks and uncertainties as detailed in their filings with the Securities and Exchange Commission. Forward-looking statements speak only as of their date, and the company does not commit to updating these statements to reflect changes in circumstances.
OptimumBank Holdings (NASDAQ: OPHC) reported strong Q3 2024 financial results with net income of $3.3 million ($0.34 per basic share), up from $1.2 million in Q3 2023. Net interest income increased 51.5% to $8.962 million, driven by a 44.9% rise in average interest-earning assets. The net interest margin improved to 3.96%. Total deposits grew 26.1% to $806.5 million, while gross loans expanded to $778 million. The company's Tier 1 capital ratio strengthened to 10.38%, supporting continued growth.
OptimumBank Holdings reported strong Q3 2024 financial results with net income of $3.3 million ($0.34 per basic share), up from $1.2 million ($0.18 per share) in Q3 2023. Net interest income increased 51.5% to $8.962 million, driven by 44.9% growth in average interest-earning assets. The net interest margin improved to 3.96% from 3.79%. Total deposits grew 26.1% to $806.5 million, with time deposits rising 134.5%. Gross loans expanded to $778 million, while the Tier 1 capital ratio strengthened to 10.38%. Noninterest income increased 22.4% to $1.115 million, reflecting higher service charges and fees.
OptimumBank (NASDAQ: OPHC), a Ft. Lauderdale-based business and community banking institution, will present at the 17th annual LD Micro Main Event on October 29, 2024, at 11:30 AM PST at the Luxe Sunset Boulevard Hotel in Los Angeles. Moishe Gubin, Chairman of the Board, will represent OptimumBank at this significant industry event.
The LD Micro Main Event XVII, running from October 28th to 30th, 2024, will feature approximately 150 companies presenting to investors. Chris Lahiji, Founder of LD Micro, emphasized the event's importance in the small and micro-cap sector. Gubin expressed excitement about showcasing OptimumBank's community-based banking model and its adaptability to Florida's evolving banking landscape.
Investors, advisors, and analysts are invited to attend in person or online. The event will include keynotes, company presentations, and private investor meetings, providing a platform for OptimumBank to connect with potential investors and highlight its unique position in the market.
OptimumBank (Nasdaq: OPHC) is hosting the inaugural Virtual Banking Conference on September 12, 2024, via live webcast. The event features two panels with top market experts discussing US budget deficit, interest rates, inflation, and geopolitical issues. Notable speakers include John Kasich (former Ohio Governor), Phil Mackintosh (Nasdaq Chief Economist), and Sheila Bair (former FDIC Chair). The conference runs from 9:00 AM to noon and is free to attend, but registration is required. This premier gathering aims to provide insights into current financial and economic trends.
OptimumBank (Nasdaq: OPHC) has announced new participants for its inaugural Virtual Banking Conference on September 12, 2024. The event will feature discussions on critical financial topics including the US budget deficit, interest rates, and geopolitical risks. Notable speakers include John Kasich, former Governor of Ohio, and Sheila Bair, former FDIC Chair. Two panels will address Global Economic Trends and Inflation's Impact, featuring experts from Nasdaq, S&P Global, and various financial institutions. The free event will be streamed live from 9:00 AM to noon, with access on a first-come, first-served basis.
OptimumBank Holdings (NASDAQ: OPHC) reported strong Q2 2024 financial results, with net income of $3.5 million ($0.34 per diluted share), up from $1.3 million in Q2 2023. Key highlights include:
- Net interest income increased 56% to $8.7 million
- Net interest margin improved to 3.79%
- Noninterest income surged 56% to $1.2 million
- Gross loans expanded 12% to $761.1 million
- Total deposits grew 19% to $762.6 million
The company's Tier 1 capital to total assets ratio was 9.68% as of June 30, 2024. Chairman Moishe Gubin expressed confidence in the company's ability to sustain momentum and deliver long-term value to shareholders.
OptimumBank (Nasdaq: OPHC) is set to host its inaugural Virtual Banking Conference on September 12, 2024, via live webcast. The event, organized in collaboration with Moody's and Nasdaq, will feature top market experts discussing important financial topics including the US budget deficit, interest rates, inflation, bank balance sheet risks, and geopolitical challenges.
The conference will be headlined by notable speakers including John Kasich, former Governor of Ohio, and Sheila Bair, former Chair of the FDIC. Two panels will address Global Economic Trends and Inflation's Impact, featuring industry leaders from Nasdaq, Tressis, Rosenberg Research, Moody's, and more.
This free event is open to all registrants, starting at 9:00 AM and concluding before noon. Interested parties can find more information and register at virtualbankingconference2024.com.
OptimumBank Holdings (Nasdaq: OPHC) announced its Annual Shareholder Meeting and Investor Day will occur on Wednesday, May 29, 2024, at its headquarters in Ft. Lauderdale, Florida. The event starts at 10:00 am ET and can also be attended virtually via a webcast. Interested participants should register through the provided webcast link or email Seth Denison at OptimumBank. Further details, including the Chairman of the Board's Letter to Shareholders, are available online.
OptimumBank Holdings (NASDAQ: OPHC) announced its first-quarter results for 2024, highlighting a significant increase in net earnings to $2.377 million, up 106% from $1.153 million in Q1 2023. The company’s stockholders' equity stands at $83 million. In Q1, OptimumBank issued 2,311,552 common shares in a private placement, ending the quarter with total assets of $940 million, loans of $746 million, and deposits of $798 million.
The loan portfolio saw a 50.4% increase, reaching $755.9 million from $502.5 million in Q1 2023. Noninterest income rose by 69.96% to $1.2 million. The capital to total assets ratio is at 10.20% as of March 31, 2024. The bank has introduced SBA 7A loans and aims to expand its deposit base and footprint.
Chairman Moishe Gubin emphasized the bank's balanced growth and future plans for strategic expansion and portfolio diversification, while maintaining strong credit standards.
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