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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, Inc. (OPHC) has announced its entry into the government loan sector for small and middle-market companies. CEO Tim Terry appointed Chris Tomlinson as Vice President and SBA Director, bringing substantial experience in corporate banking and government loans. The bank aims to become an SBA participating bank, which is expected to foster new business relationships and enhance growth. The 2023 budget includes a target to produce $25 million in SBA loans, capitalizing on the bank's proven track record of loan growth and excess liquidity.
OptimumBank Holdings, Inc. reported a pre-tax income of $903,000 for Q3 2022, post a loan loss provision of $1,374,000. Total assets reached $544.8 million, with a loan portfolio growth of 23.9%, totaling $438.1 million. The bank's net interest margin was 3.53%, down from the previous quarter. The year-to-date consolidated EPS stands at $0.44, with expectations to reach $0.66 by year-end. The bank is well-capitalized with a leverage capital ratio of 10.77% and has seen significant loan closings of approximately $227.2 million this year.
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