Optimumbank Hold Stock Price, News & Analysis

OptimumBank Holdings announced the completion of its acquisition of trust preferred securities (TruPS) through an exchange offer, issuing 689,572 shares of common stock for TruPS valued at $2,068,716. Directors Chan Heng Fai Ambrose and Michael Blisko received part of these shares. The acquisition allows the termination of the Trust, increasing stockholders’ equity and enhancing the bank’s capacity to raise additional funds. Since 2020, the company has raised over $19.5 million, supporting growth and regulatory compliance.

OptimumBank Holdings, Inc. (OPHC) announced a private exchange offer for its Trust Preferred Securities, effective until July 8, 2021. Holders can exchange their securities for shares of common stock, with a maximum of 700,000 shares to be issued. The exchange price will be the lesser of $3.00 per share or the common stock's closing price on the expiration date. The total value of exchanged securities is capped at $2.1 million. The offering aims to be exempt from SEC registration and is intended for accredited investors only.

OptimumBank Holdings (OPHC) reported strong performance in Q1 2021, achieving a net income of $324K, up from a loss of $119K in Q1 2020. The bank closed 267 PPP loans worth $17.7M and expects $1.3M in fee income from these loans. Total assets grew by 79% to approximately $252M, driven by $61M in new loans. Non-maturity deposits surged by 98% or $103.7M, enhancing liquidity. The bank also plans to close its Plantation branch and open a new location nearby. Management remains optimistic about future growth and shareholder returns.

OptimumBank Holdings, Inc. (OPHC) reported a substantial increase in total assets, rising by $17.5 million to $252.6 million as of March 31, 2021, largely due to loans and debt securities. Stockholders' equity also grew by $3.5 million to $21.3 million, driven by preferred stock sales and net earnings of $348,000. The bank's fee income surged from $47 million to $73 million over the quarter, attributed to an increase in commercial accounts. CEO Tim Terry highlighted strong local lending efforts and plans to acquire Trust Preferred Securities in 2021.

OptimumBank Holdings (OPHC) reported a net loss of $42,000 for the year, primarily due to a $1,020,000 loan loss provision. Excluding this, the Bank earned $1,062,000. Total loans increased by 59% to $154.9 million, and fee income surged 63% to $293,000. Despite challenges from Covid-19, the Bank supported local businesses, booking $19.2 million in Payroll Protection Plan loans. Operating expenses remained stable, aided by capital injections from investors. The Chairman emphasized the importance of community ties and professional leadership.

OptimumBank Holdings, Inc. (OPHC) reported a net income of $345,000 for Q3, excluding a $523,000 allowance for loan losses. Net interest income surged by 48%, from $2.45 million in 2019 to $3.63 million in 2020, supported by capital inflows. Additionally, fee income from wire and ACH fees increased from $64,000 to $192,000, demonstrating effective growth strategies. Chairman Moishe Gubin emphasized the importance of strategic planning and improving non-balance sheet income, while remaining watchful of risks.

OptimumBank Holdings, Inc. (OPHC) reported a net income of $345,000 for the third quarter, despite a $523,000 provision expense for loan losses. The bank's loan portfolio increased by $41.6 million this year, benefiting from small business loans under the PPP program. Total assets surpassed $200 million, with a notable rise in fee income from commercial accounts. Chairman Moishe Gubin and CEO Tim Terry highlighted growth in income and local market acceptance, especially in supporting small businesses during the COVID-19 pandemic.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) reported a net income of $57,000 for the first half of 2020, excluding a $712,000 provision for loan and lease losses. Significant growth was observed with loans increasing by $33.6 million and cash and securities rising by $19.3 million compared to the previous year. Interest income rose by $695,000, leading to a net interest income increase of $644,000. Noninterest expenses decreased by $59,000 to $2.2 million. The Chairman noted that stable profits could enhance stock value, despite a non-cash charge impacting earnings.

OptimumBank (NASDAQ: OPHC) reported a 1st Quarter Net Income of $43,000 and a March Net Income of $27,000, both excluding Allowance for Loan Losses (ALLL). Loans increased by $5.2 million and cash and securities rose by $9.1 million. Interest income grew by $31,000 while interest expense decreased by $32,000, boosting net interest income by $63,000. Noninterest income nearly doubled to $67,000. The bank remains well-capitalized under regulatory requirements and is actively assisting borrowers with PPP loans amid the COVID-19 crisis.