OptimumBank Holdings Inc

NASDAQ:OPHCUnited States

Nov 8, 2024

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• *DJ OptimumBank 3Q EPS 32c >OPHC, from 4:40PM ET on Friday Nov 08, 2024 by Dow Jones

  4:40PM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: OPHC

• OptimumBank Holdings, Inc. Financial Performance for the Third Quarter of 2024, from 4:40PM ET on Friday Nov 08, 2024 by Dow Jones

  4:40PM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: OPHC
  
  forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
  
  Investor Relations & Corporate Relations
  

• OptimumBank Holdings, Inc. Financial Performance for the Third Quarter of 2024, from 11:33AM ET on Friday Nov 08, 2024 by Dow Jones

  11:33AM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: OPHC
  
  (Dollars in thousands, except per share amounts)
  December September 30, 31, 2024 2023 ------------- --------- (Unaudited) (audited) Assets: Cash and due from banks $ 15,357 $ 14,009 Interest-bearing deposits with banks 116,242 62,654 --------- -------- Total cash and cash equivalents 131,599 76,663 Debt securities available for sale 24,495 24,355 Debt securities held-to-maturity (fair value of $275 and $326) 300 360 Loans, net of allowance for credit losses of $8,337 and $7,683 768,914 671,094 Federal Home Loan Bank stock 2,454 3,354 Premises and equipment, net 1,938 1,375 Right-of-use lease assets 1,950 2,161 Accrued interest receivable 3,147 2,474 Deferred tax asset 2,788 2,903 Other assets 7,607 6,515 --------- -------- Total assets $ 945,192 $ 791,254 ========= ======== Liabilities and Stockholders' Equity: Liabilities: Noninterest-bearing demand deposits $ 202,373 $ 194,892 Savings, NOW and money-market deposits 318,402 322,932 Time deposits 285,731 121,757 --------- -------- Total deposits 806,506 639,581 Federal Home Loan Bank advances 40,000 62,000 Federal Reserve Bank advances - 13,600 Operating lease liabilities 2,056 2,248 Other liabilities 3,935 3,818 --------- -------- Total liabilities 852,497 721,247 --------- -------- Commitments and contingencies (Notes 8 and 11) Stockholders' equity: Preferred stock, no par value 6,000,000 shares authorized: - - Series A Preferred, no par value, no shares issued and outstanding - - Series B Convertible Preferred, no par value, 1,520 shares authorized, 1,360 shares issued and outstanding - - Series C Convertible Preferred, no par value, 4,000,000 shares authorized, 525,641 and 0 shares issued and outstanding - - Common stock, $.01 par value; 30,000,000 shares authorized, 10,006,960 and 7,250,218 shares issued and outstanding 99 72 Additional paid-in capital 103,878 91,221 Accumulated deficit (6,796) (15,971) Accumulated other comprehensive loss (4,486) (5,315) --------- -------- Total stockholders' equity 92,695 70,007 --------- -------- Total liabilities and stockholders' equity $ 945,192 $ 791,254 ========= ========
  

• OptimumBank Holdings, Inc. Financial Performance for the Third Quarter of 2024, from 11:32AM ET on Friday Nov 08, 2024 by Newsfile

  11:32AM ET on Friday Nov 08, 2024 by Newsfile
  Companies Mentioned: OPHC

  Fort Lauderdale, Florida--(Newsfile Corp. - November 8, 2024) - 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.