OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Third Quarter Earnings - Seite 2

During the first nine months of 2023, the Company issued 72,221 shares of its common stock in a private placement transaction to two accredited investors at a price of $4.50 per share. None of these investors was an officer, director or affiliate of the Company. The Company issued these shares in reliance on Section 4(a)(2) of the Securities Act as a transaction by an issuer not involving a public offering.

At the holding company meeting held on November 9, 2023, Chairman Moishe Gubin commented “This was a great third quarter and we are on our best run rate ever in the history of the Bank with a strong ROAE.”

Chairman Gubin continues to facilitate the execution for the OptimumBank’s strategic plan which encompasses expanding lending capabilities, increasing the Bank’s core deposit base primarily with fee-based income businesses and by evaluating opportunistic M&A opportunities. Gubin remains focused on increasing the Loan-to-Deposit ratio by maintaining competitive pricing of the Bank’s products to improve the Net Interest Margin (NIM) to reach its maximum potential. The Bank continues to focus on the customer on its path to grow larger and stronger while still achieving community banking at its best, where customers are a name, not a number.

About OptimumBank Holdings, Inc.

OptimumBank Holdings, Inc. operates as the bank holding company for OptimumBank that provides a range of consumer and commercial banking services to individuals and businesses. The company accepts demand interest-bearing and noninterest-bearing, savings, money market, NOW, and time deposit accounts, as well as certificates of deposit; and offers residential and commercial real estate, commercial, and consumer loans, as well as lending lines for working capital needs. It also provides debit and ATM cards; investment, cash management, and notary and night depository services; and direct deposits, money orders, cashier's checks, domestic collections, drive-in tellers, and banking by mail, as well as Internet banking services. In addition, the company engages in holding, managing, and disposing foreclosed real estate. It operates through banking offices located in Broward County, Florida. OptimumBank Holdings, Inc. was founded in 2000 and is based in Fort Lauderdale, Florida.