Core Viewpoint - OptimumBank Holdings, Inc. is transferring its common stock listing from Nasdaq to NYSE American, effective December 31, 2024, aiming to enhance liquidity and visibility [1][2][3]. Company Overview - OptimumBank Holdings, Inc. is a Florida corporation established in 2004 as a bank holding company for OptimumBank, which was founded in 2000 and is a Florida state-chartered bank with FDIC-insured deposits [4]. Listing Details - The common stock of OptimumBank is expected to start trading on NYSE American under the ticker symbol "OPHC" on December 31, 2024, after trading on Nasdaq until the market closes on December 30, 2024 [2]. Strategic Implications - The Chairman of OptimumBank expressed optimism that the move to NYSE American will increase the liquidity and visibility of the company's stock, aligning it with other successful banks listed on the exchange [3]. Industry Context - NYSE American is recognized as a listing home for many regional banks, suggesting that OptimumBank will benefit from being part of a community of similar institutions [4].

Financial Performance - Return on average assets improved to 1.3% for the nine months ended September 30, 2024, compared to 1.0% for the year ended December 31, 2023[86] - Return on average equity increased to 14.9% for the nine months ended September 30, 2024, from 9.6% for the year ended December 31, 2023[86] - Net interest income for the period was $25,453 thousand, with a net interest margin of 3.82%[93] - The interest rate spread was 2.54%, slightly lower than the previous period's 2.56%[93] Asset and Loan Growth - Total assets increased by approximately $154 million to $945 million as of September 30, 2024, from $791 million at December 31, 2023[85] - Net loans grew by $98 million to $769 million at September 30, 2024, from $671 million at December 31, 2023[85] - Total assets reached $910,698 thousand, reflecting a significant increase from $620,797 thousand in the previous period[93] - Loans amounted to $743,537 thousand, generating interest income of $38,372 thousand at a yield of 6.88%[93] Deposits and Equity - Deposits increased by approximately $167 million to $807 million at September 30, 2024, from $640 million at December 31, 2023[85] - Total stockholders' equity increased by approximately $23 million to $93 million at September 30, 2024, from $70 million at December 31, 2023[85] - Stockholders' equity increased to $81,973 thousand, up from $65,004 thousand in the previous period[93] Branch Expansion and Loan Offerings - The Company opened its third branch office in North Miami Beach on July 8, 2024[84] - The Company commenced offering SBA 7A loans, totaling $4.7 million as of September 30, 2024[82] - The Company plans to focus on originating multi-family, non-owner occupied, commercial real estate, and skilled nursing receivable facility loans for future growth[80] Interest and Liabilities - Total interest-earning assets increased to $888,611 thousand, with interest income of $43,986 thousand and an average yield of 6.60%[93] - Total interest-bearing liabilities were $608,058 thousand, with interest expense of $18,533 thousand and an average rate of 4.06%[93] - Noninterest-bearing demand deposits totaled $214,773 thousand, indicating a strong liquidity position[93] Internal Controls and Legal Proceedings - The company reported no significant changes in internal control over financial reporting during the quarter[109] - There are currently no material legal proceedings involving the company[109]

Core Insights - OptimumBank Holdings, Inc. reported a net income of $3.3 million for Q3 2024, a significant increase from $1.2 million in Q3 2023, indicating strong growth in earnings and profitability [1][6] Financial Performance - Net interest income for Q3 2024 reached $8.962 million, a 51.5% increase from $5.914 million in Q3 2023, driven by a 44.9% rise in average interest-earning assets [2][8] - The net interest margin improved to 3.96% from 3.79% year-over-year, reflecting effective asset utilization despite rising costs associated with interest-bearing deposits [2][8] - Noninterest income increased to $1.115 million in Q3 2024, up 22.4% from $911,000 in Q3 2023, primarily due to higher service charges and other noninterest income [3][9] Asset and Deposit Growth - Gross loans expanded to $778 million as of September 30, 2024, reflecting a 14.4% increase from $680.1 million at the end of December 2023 [4][17] - Total deposits grew by 26.1% to $806.5 million from $639.5 million at the end of December 2023, driven by a substantial 134.5% increase in time deposits [4][20] Capital Position - The Tier 1 capital to total assets ratio improved to 10.38% as of September 30, 2024, compared to 10.00% at the end of 2023, indicating a strong capital base [5][23] Noninterest Expenses - Noninterest expenses increased by 45.0% to $5.285 million in Q3 2024, largely due to investments in salaries, employee benefits, and data processing costs [6][11] - For the nine months ended September 30, 2024, noninterest expenses reached $15.1 million, up 37.4% from $11.0 million in the same period in 2023 [11][13] Credit Quality - The allowance for credit losses increased to $8.337 million as of September 30, 2024, up 8.5% from $7.683 million at the end of December 2023, reflecting prudent risk management [17][18] - The allowance for credit losses covers 382% of nonperforming loans, reinforcing the bank's commitment to managing credit risk effectively [20]

Company Overview - OptimumBank, founded in November 2000, aims to provide a true community banking experience in Broward County, Florida, reversing the trend of out-of-state mega-banks [5] - The bank focuses on traditional in-person banking services for local businesses and consumers, emphasizing personalized financial solutions and expertise in real estate and commercial lending [6] Event Details - OptimumBank will present at the LD Micro Main Event XVII on October 29, 2024, at 11:30 AM PT, showcasing its commitment to community-based banking [2][3] - The LD Micro Main Event XVII will take place from October 28 to 30, 2024, at the Luxe Sunset Boulevard Hotel in Los Angeles, featuring around 150 companies presenting in half-hour increments [4] Industry Context - The banking landscape in Florida is evolving, with local banks becoming rarer, highlighting the importance of community banks like OptimumBank that offer competitive services without exorbitant fees [6]

Core Insights - OptimumBank is hosting a significant virtual banking conference on September 12, 2024, focusing on key economic issues such as the US budget deficit, interest rates, and inflation trends [1][4] Group 1: Conference Details - The conference will feature opening remarks by John Kasich, a former Governor of Ohio and Congressman, who has a notable history with the House Budget Committee during a period of budget surplus [2] - Two panels will be held: the first on Global Economic Trends with experts including Phil Mackintosh and David Rosenberg, moderated by Mandeep Trivedi [2] - The second panel will address Inflation's Impact on Monetary Policy and Investment Strategies, featuring Jim Bianco and Nathan Stovall, moderated by Albert E. Dotson, Jr. [3] Group 2: Key Speakers - Closing remarks will be provided by Sheila Bair, former Chair of the FDIC, who has significant experience from the financial crisis period [4] - The event is free to attend but requires registration, with limited access available [4] Group 3: Company Background - OptimumBank, founded in 2000 in Ft. Lauderdale, Florida, has experienced significant growth and aims to leverage this momentum in the future [6] - The bank offers a range of financial solutions including Business Banking, Business Lending, and Personal Banking [6]

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 pr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________ Commission File Number: 000-50755 OPTIMUMBANK HOLDINGS, INC. (Exact name of registrant as specified in its charter) Florida 55-0865043 ...

The conference will feature two dynamic panels: The second, Inflation's Impact: Aligning Monetary Policy with Investment Strategies with leading figures Jim Bianco, President of Bianco Research; Marisa DiNatale, Global Head of Forecasting at Moody's; Dr. Rebel Cole, Chaired Professor of Finance at Florida Atlantic University; and Tavi Costa, Chief Macro Strategist at Crescat Capital. This event is free and open to all who register, however, access is limited and provided on a first-come, firstserved basis f ...

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. Lauderdale, Florida, as well as virtually by way of this Webcast Link, beginning at 10:00 am ET. If you are interested in attending, or participating virtually, please register at the link above or by emailing your contact information to Seth Denison at SDenison@Opt ...

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. Lauderdale, Florida, as well as virtually by way of this Webcast Link, beginning at 10:00 am ET. If you are interested in attending, or participating virtually, please register at the link above or by emailing your contact information to Seth Denison at SDenison@Opt ...