STOCK TITAN
  1. Home
  2. Sec-filings
  3. OPHC
  4. [8-K] OptimumBank Holdings, Inc. Reports Material Event

OptimumBank Holdings (OPHC) doubles down on growth with Q2 2026 earnings surge

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

OptimumBank Holdings, Inc. reported strong second-quarter 2026 results, with net income of $6.7 million, or $0.40 per basic share and $0.28 per diluted share, up from $4.7 million in the first quarter and $3.6 million a year earlier. For the six months ended June 30, 2026, net income was $11.3 million versus $7.5 million in the prior-year period, driven mainly by an $8.2 million increase in net interest income and $1.2 million higher noninterest income.

Total assets reached $1.4 billion, with gross loans of $1.2 billion and deposits of $1.2 billion, reflecting quarter-over-quarter growth of $132.2 million, $126.2 million, and $121.2 million, respectively. Net interest income rose to $14.7 million and net interest margin improved to 4.57%. Asset quality remained solid, with net charge-offs of $11,000, nonaccrual loans of $2.1 million, and an allowance for credit losses of $11.0 million, or 0.91% of total loans. The Tier 1 leverage ratio was 10.54%.

Leadership changes were completed as Chairman Moishe Gubin became Chief Executive Officer and Braden R. Smith joined as Bank President. OptimumFinance, LLC funded its first $14.2 million loan using a $14.0 million note payable guaranteed by the company. Shareholders’ equity increased to $134.4 million, and tangible book value per diluted share rose to $5.65.

Positive

  • Q2 2026 net income of $6.7 million, up from $4.7 million in Q1 2026 and $3.6 million in Q2 2025, shows significantly higher profitability.
  • Net interest margin of 4.57% and ROAE of 20.34% in Q2 2026 indicate strong core banking profitability and efficient use of equity capital.

Negative

  • None.

Filing Explained

The preferred-stock exchange completed without disclosed ownership dilution, while the ATM issued 174,348 new common shares during the second quarter.

The July 24, 2026 Form 8-K states that all outstanding Series B and C convertible preferred stock was exchanged during the quarter ended June 30, 2026 for $11.5 million of stated-value-equivalent nonvoting common shares totaling 11,458,351 shares, and the company says the completed exchange did not change existing ownership or cause economic dilution.

Separately, the company issued 174,348 common shares through its ongoing at-the-market program and reported $0.9 million of additional equity from that offering. An at-the-market program permits gradual sales of new shares at prevailing market prices; unlike the preferred-stock exchange, this issuance increases the share count and reduces an existing holder’s percentage ownership absent offsetting changes.

The company says future basic and diluted earnings per share are expected to be identical absent future dilutive securities or other capital-structure changes, making subsequent filings the point at which that condition can be checked.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income Q2 2026 $6.7 million Quarter ended June 30, 2026
Diluted EPS Q2 2026 $0.28 Quarter ended June 30, 2026
Net interest margin 4.57% Second quarter of 2026
ROAA 2.04% Return on Average Assets, Q2 2026 (annualized)
ROAE 20.34% Return on Average Equity, Q2 2026 (annualized)
Total assets $1.40 billion As of June 30, 2026
Total gross loans $1.2 billion As of June 30, 2026
Allowance for credit losses ratio 0.91% Allowance as a percentage of total loans at June 30, 2026
net interest margin financial
"Net interest margin was 4.57%, reflecting an 8 basis point increase"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
efficiency ratio financial
"The Company’s efficiency ratio (non-GAAP measure) was 48.78% for the second quarter"
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
allowance for credit losses financial
"The allowance for credit losses stood at $11.0 million as of June 30, 2026"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
nonaccrual loans financial
"Nonaccrual loans totaled $2.1 million at June 30, 2026"
Nonaccrual loans are loans a lender has stopped counting toward interest income because the borrower is overdue or unlikely to pay; the lender only records cash payments received and may set aside extra funds to cover potential losses. For investors, a rising number or amount of nonaccrual loans signals weaker credit quality, lower future interest revenue and larger potential write-downs — similar to pausing expected subscription income when many customers stop paying.
tangible book value per share financial
"Tangible book value per diluted share at June 30, 2026, was $5.65"
Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.
pre-tax, pre-provision earnings financial
"Pre-tax, Pre-provision earnings (Non-GAAP) | 2Q26 | $ | 8,801"
A banking metric that shows a firm’s operating profit before subtracting income taxes and the amount set aside for potential loan losses. It isolates core earnings power by excluding the cushion banks build for bad loans and tax costs, so investors can compare underlying performance across periods or peers without those timing or accounting effects. Think of it like a retailer’s profit before setting aside money for expected returns and paying taxes.
Net income Q2 2026 $6.7 million $3,053 thousand increase vs second quarter 2025, per quarterly trends table
Net income six months ended June 30, 2026 $11.3 million $3.8 million increase vs six months ended June 30, 2025
Diluted EPS Q2 2026 $0.28 compared to $0.20 in Q1 2026 and $0.15 in Q2 2025
Net interest margin Q2 2026 4.57% up from 4.49% in Q1 2026 and 4.32% in Q2 2025

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding 8-K Material Events →

FAQ

How did OptimumBank Holdings (OPHC) perform in the second quarter of 2026?
OptimumBank Holdings (OPHC) earned $6.7 million in net income in Q2 2026, or $0.40 basic and $0.28 diluted EPS. This compares to $4.7 million in Q1 2026 and $3.6 million in Q2 2025, reflecting stronger profitability.

What drove OPHC’s earnings growth for the first half of 2026?
For the six months ended June 30, 2026, OPHC generated $11.3 million of net income, up from $7.5 million a year earlier. The company cites an $8.2 million increase in net interest income and $1.2 million higher noninterest income as primary drivers.

How fast are loans and deposits growing at OptimumBank Holdings (OPHC)?
In Q2 2026, OPHC’s gross loans rose by $126.2 million, or 11.6%, to $1.2 billion, while deposits increased $121.2 million, or 11.1%, to $1.2 billion from March 31, 2026. Year-over-year deposit growth was $335.2 million, or 38.1%.

What are OPHC’s key profitability and efficiency ratios for Q2 2026?
For Q2 2026, OPHC reported ROAA of 2.04% and ROAE of 20.34% (both annualized). Net interest margin was 4.57%, and the efficiency ratio (non-GAAP) was 48.78%, indicating strong earnings relative to assets and controlled operating costs.

How is OptimumBank Holdings’ (OPHC) asset quality and reserve coverage?
At June 30, 2026, OPHC’s allowance for credit losses was $11.0 million, or 0.91% of total loans. Nonaccrual loans were $2.1 million, net charge-offs were $11,000 in Q2 2026, and no loans were 90 days past due and still accruing.

What capital and book value metrics did OPHC report for June 30, 2026?
As of June 30, 2026, OPHC’s Tier 1 leverage ratio was 10.54%, above regulatory minimums. Shareholders’ equity totaled $134.4 million, and tangible book value per diluted share was $5.65, up from $5.37 at March 31, 2026.

What strategic or leadership developments did OPHC highlight in Q2 2026?
Effective May 1, 2026, Chairman Moishe Gubin became Chief Executive Officer and Braden R. Smith joined as Bank President. Additionally, OptimumFinance, LLC closed its first $14.2 million loan funded by a $14.0 million note payable guaranteed by the company.
false 0001288855 0001288855 2026-07-24 2026-07-24 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported) July 24, 2026

 

OPTIMUMBANK HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Florida   001-42447   55-0865043

(State or other jurisdiction

of incorporation)

  

(Commission

file number)

  

(IRS employer

identification no.)

 

2929 East Commercial Boulevard       33308
Ft. Lauderdale, Florida       (Zip Code)
(Address of principal executive offices)        

 

(954) 776-2332

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities Registered pursuant to Section 12(b) of the Act:  

 

Title of each class registered   Trading Symbol(s)   Name of exchange on which registered
Common Stock   OPHC   NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1933 (§240.12b-2 of this chapter)

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

Item 7.01 Regulation FD Disclosure.

 

On July 24, 2026, OptimumBank Holdings, Inc. issued a press release and a presentation describing its unaudited results of operations and financial condition for, and at the end of, the quarter and six month period ended June 30, 2026. The press release is attached as Exhibit 99.1 and the presentation as Exhibit 99.2.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit

Number

  

 

Exhibit Name

  

Filed

Herewith

99.1   Press release dated July 24, 2026   *
99.2   Presentation dated July 24, 2026   *
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)   *

 

The information in this report (including the exhibits) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

OPTIMUMBANK HOLDINGS, INC.  
     
Date: July 24, 2026  
     
By: /s/ Moishe Gubin  
  Moishe Gubin  
 

Chief Executive Officer and

  
  Chairman of the Board of Directors  

 

 

 

 

Exhibit 99.1

 

 

OptimumBank Holdings, Inc. Financial Performance for the Second Quarter of 2026

 

Fort Lauderdale, FL, July 24, 2026 — OptimumBank Holdings, Inc. (NYSE American: OPHC) (the “Company”) is a financial holding company and owns 100% of OptimumBank (the “Bank”), a Florida-chartered commercial bank, OptimumHUD Loans, LLC (d/b/a as OptimumFunding, LLC), a wholly owned non-bank Bridge and HUD-lender and OptimumFinance, LLC, a non-bank, wholly owned financing subsidiary. The Company is pleased to announce net income of $6.7 million, or $0.40 per basic share, and $0.28 per diluted share, for the second quarter of 2026, compared to $4.7 million, or $0.39 per basic share, and $0.20 per diluted share in the first quarter of 2026 and $3.6 million, or $0.31 per basic share, and $0.15 per diluted share, for the comparable quarter last year. For the six months ended June 30, 2026, net income was $11.3 million, or $0.79 per basic share, and $0.48 per diluted share, compared to net income of $7.5 million, or $0.64 per basic share, and $0.32 per diluted share, for the six months ended June 30, 2025. The increase of $3.8 million in net income for the six-month ended June 30, 2026, compared to the same period in 2025, was primarily driven by a $8.2 million improvement in net interest income and $1.2 million increase in noninterest income, partially offset by a $4.6 million increase in noninterest expenses and the corresponding increase in income tax expense. Diluted shares include the impact of the exchange of Series B and C preferred shares to nonvoting common stock that occurred during the second quarter of 2026.

 

The Company will host a webcast call to discuss the results of the second quarter of 2026 on August 13, 2026, at 1:00pm ET. Those interested in viewing the Company’s presentation are encouraged to register for the live Webcast, at the following link: https://events.q4inc.com/attendee/432597526/guest?t=1784670390505. Company management will also be available to respond to questions at the conclusion of the presentation.

 

The Company continued with strong growth throughout the second quarter of 2026. The gross loan portfolio increased by $126.2 million, or 11.6%, from March 31, 2026 to $1.2 billion at June 30, 2026. Total deposits increased by $121.2 million from March 31, 2026, totaling $1.2 billion at June 30, 2026, or 11.1% from the prior quarter. This also represents growth of $335.2 million in total deposits since June 30, 2025, or an increase of 38.1%.

 

Highlights for the Second Quarter of 2026

 

  ● Net income of $6.7 million, or $0.40 per basic share, and $0.28 per diluted share (“diluted EPS”) for the quarter-ended June 30, 2026.
  ● Return on Average Assets (“ROAA”) was 2.04% for the second quarter of 2026, compared to 1.56% in the first quarter of 2026 (both annualized).
  ●

Return on Average Equity (“ROAE”) was 20.34% for the second quarter of 2026, compared to 15.12% in the first quarter of 2026 (both annualized).

  ● Net interest margin was 4.57%, reflecting an 8 basis point increase from 4.49% in the first quarter of 2026.
  ● Total assets grew by $132.2 million to $1.4 billion from March 31, 2026.
  ● Total deposits increased by $121.2 million to $1.2 billion from March 31, 2026.
  ● Gross loans increased by $126.2 million during the quarter to $1.2 billion, compared to $1.1 billion at March 31, 2026.
  ● Total stockholders’ equity increased by $7.5 million to $134.4 million as of June 30, 2026, up from $126.9 million as of March 31, 2026, reflecting continued earnings retention.

 

 

 

 

During the second quarter, the Company successfully completed its previously announced leadership transition. Effective May 1, 2026, Moishe Gubin, who has served as Chairman of the Board for more than sixteen years, assumed the additional role of Chief Executive Officer. Having played a central role in the Company’s strategic direction, governance, and growth over the past decade and a half, Mr. Gubin brings deep institutional knowledge and a thorough understanding of the Bank’s operations, customers, and long-term objectives. At the same time, Braden R. Smith joined the Bank as President, while Timothy Terry retired following thirteen years of dedicated service and continues to support the orderly transition of responsibilities. Together, the Company’s experienced leadership team remains focused on executing its strategic growth initiatives and delivering long-term shareholder value.

 

“Our momentum continued to accelerate during the second quarter as we delivered another record quarter while executing on the strategic initiatives that position the Company for continued long-term growth,” said Chairman of the Board and Chief Executive Officer Moishe Gubin. “We delivered record quarterly earnings while continuing to generate exceptional loan and deposit growth, expand our net interest margin, and maintain strong credit quality. At the same time, we have begun executing on our strategy to expand into complementary financial services through OptimumFinance, further diversifying our platform for future growth. We remain focused on creating long-term value for our shareholders.”

 

Net interest income for the quarter-ended June 30, 2026 increased to $14.7 million, up by $1.5 million from the first quarter of 2026 and $4.5 million from the second quarter of 2025, supported by higher yields on loans and securities and lower costs on interest-bearing liabilities. The cost of interest-bearing liabilities was 3.30%, down by 19 basis points from 3.49% in the second quarter of 2025, while interest-earning asset yields rose 22 basis points to 6.75%. The Company’s net interest margin rose 25 basis points from the second quarter of 2025 to 4.57% as of quarter-ended June 30, 2026, a reflection of disciplined loan and deposit pricing strategy, prudent liquidity management, and balance sheet optimization.

 

Noninterest income for the quarter-ended June 30, 2026 increased to $2.5 million, or by $0.7 million from the prior quarter, primarily driven by an increase in gains on the sale of government guaranteed SBA loans and increases in service charges and fees related to banking services. Noninterest expenses increased to $8.4 million, or $0.4 million from the first quarter, primarily relating to an increase in employee compensation expenses. The Company’s efficiency ratio (non-GAAP measure) was 48.78% for the second quarter of 2026, consistent with prudent cost management amid balance sheet expansion and associated revenue expansion.

 

Credit loss reversal for the quarter-ended June 30, 2026 was $0.4 million, primarily due to improvements in the credit quality of the loan portfolio and the evaluation of factors used to determine the credit loss, partially offset by the growth in the loan portfolio. Gross charge-offs remained modest at $50,000 while recoveries totaled $39,000 resulting in net charge-offs of only $11,000 during the second quarter of 2026. The allowance for credit losses stood at $11.0 million as of June 30, 2026, or 0.91% of total loans.

 

Loan portfolio growth remained strong in the second quarter of 2026. Gross loans increased by $126.2 million from the prior quarter. Commercial real estate continued to expand, growing by $114.9 million in the second quarter. Additionally, there were increases in the consumer, land and construction, commercial, and residential portfolio segments, up $6.7 million, $5.3 million, $5.3 million, and $5.1 million, respectively. These gains were partially offset by a decline of $11.1 million in multi-family real estate.

 

The continued growth experienced in the loan portfolio is due to the implementation of our relationship-based banking model and the success of our lenders in competing for new business, as well as OptimumFinance, LLC commencing activity in the second quarter of 2026. OptimumFinance, LLC completed its first loan in the second quarter of 2026 for $14.2 million, and is expected to continue growing through 2026. During the quarter, OptimumFinance, LLC issued a $14.0 million note payable to fund its first loan which is guaranteed by the Company. OptimumFinance leveraged their balance sheet to attain the highest yield they could earn for the risk they took in the loan they made.

 

On the funding side, total deposits increased by $121.2 million to $1.2 billion from the first quarter of 2026, with strong sequential growth across all deposit categories. The Company had $25.0 million in Federal Home Loan Bank (“FHLB”) advances outstanding at June 30, 2026, a decrease of $15.0 million from March 31, 2026.

 

The Bank’s capital levels remain strong, with a Tier 1 Leverage Ratio of 10.54%, well above regulatory minimums. The Company remains well positioned to support continued growth and earnings momentum. The modest decline from the prior quarter of 20 basis points reflects strong asset growth, as capital deployment into earning assets outpaced retained earnings, while capital levels remain well above regulatory requirements.

 

The Company’s outlook remains constructive. During the first quarter of 2026, OptimumBank was ranked number 49 out of 3,465 U.S. community banks by S&P Global Market Intelligence, placing the Company among the top 1.4% nationwide. During the second quarter of 2026, the Company was named among the top 10% of publicly traded community banks in the nation in the Raymond James Community Bankers Cup. The Company’s growing visibility within the investment community was further demonstrated during the quarter as Alliance Global Partners and Brean Capital initiated equity research coverage with Buy ratings, while Compass Point upgraded its rating on the Company from Neutral to Buy. As a result, all three independent equity research firms currently covering the Company maintain Buy ratings. The Company continues to invest in technology, talent, and targeted growth initiatives that reinforce its position as one of the most dynamic and rapidly growing community banks in South Florida. We remain grateful for the trust and partnership of our shareholders, customers, and employees.

 

 

 

 

The following table presents the Company’s quarterly trends of the consolidated financial highlights (unaudited) for the periods presented (see below for a summary of non-GAAP reconciliation):

 

   Quarterly Trends   2Q26 change vs 
   2Q26   1Q26   4Q25   3Q25   2Q25   1Q26   2Q25 
Selected Balance Sheet Data                                   
Total assets  $1,400,937   $1,268,735   $1,111,678   $1,083,043   $999,127   $132,202   $401,810 
Total gross loans  $1,217,083   $1,090,894   $958,793   $813,722   $784,564   $126,190   $432,519 
Total deposits  $1,214,045   $1,092,883   $931,750   $959,487   $878,865   $121,162   $335,180 
Earnings Highlights                                   
Net income  $6,655   $4,663   $4,853   $4,323   $3,602   $1,992   $3,053 
Diluted earnings per share (EPS)  $0.28   $0.20   $0.21   $0.18   $0.15   $0.08   $0.13 
Net interest income  $14,697   $13,190   $11,871   $11,048   $10,242   $1,507   $4,455 
Performance Ratios                                   
Net interest margin   4.57%   4.49%   4.39%   4.37%   4.32%   0.08%   0.25%
Net interest spread   3.45%   3.36%   3.11%   2.98%   3.08%   0.09%   0.37%
Cost of interest-bearing liabilities   3.30%   3.26%   3.34%   3.48%   3.49%   0.05%   (0.19)%
Efficiency ratio   48.78%   53.47%   49.59%   50.68%   51.18%   (4.69)%   (2.40)%
Loan-to-deposit ratio   99.20%   98.69%   101.67%   83.67%   88.13%   0.52%   11.07%
Return on (annualized)                                   
Average assets (ROAA)   2.04%   1.56%   1.77%   1.68%   1.48%   0.47%   0.55%
Average equity (ROAE)   20.34%   15.12%   16.23%   15.17%   13.10%   5.22%   7.24%
Average tangible assets (ROTA)   2.04%   1.56%   1.77%   1.68%   1.48%   0.47%   0.55%
Pre-tax pre-provision net revenue (PPNR)  $8,801   $6,968   $6,855   $6,426   $5,895   $1,833   $2,906 
Other Operating Measures                                   
Common Shares outstanding - Voting   12,340,785    12,166,858    11,533,943    11,883,943    11,751,082    173,927    589,703 
Common Shares outstanding - Nonvoting   11,458,351   -   -   -   -   11,458,351   11,458,351 
Fully diluted shares outstanding   23,799,136    23,625,209    23,523,473    23,523,473    23,390,612    177,053    408,524 
Fully diluted tangible book value per share  $5.65   $5.37   $5.18   $4.97   $4.76   $0.28   $0.89 
Tier 1 Capital to total assets   10.54%   10.74%   11.39%   11.71%   11.89%   (0.20)%   (1.35)%

 

 

 

 

Financial Results

 

Statement of Income

 

Net income was $6.7 million for the second quarter of 2026, compared to net income of $4.7 million for the first quarter of 2026, and $3.6 million for the second quarter of 2025. The increase from the first quarter of 2026 was primarily due to an increase in interest income to $21.7 million, compared to $19.5 million in the first quarter, primarily driven by an increase in interest income on loans. Additionally, there was a $0.8 million decline in credit loss expense and a $0.7 million increase in noninterest income, partially offset by increases of $0.7 million and $0.4 million in interest expense and noninterest expense, respectively.

 

Total interest income was $21.7 million for the second quarter of 2026, compared to $19.5 million in the first quarter of 2026 and $15.6 million in the second quarter of 2025. The sequential growth was driven by a $2.3 million increase in interest income from loans. Compared to the second quarter of 2025, the increase was primarily due to a $338.6 million increase in average loan balances.

 

The following table depicts the components of interest income (unaudited) for the quarterly periods presented:

 

   Quarterly Trends   2Q26 change vs 
   2Q26   1Q26   4Q25   3Q25   2Q25   1Q26   2Q25 
Interest income                                   
Loans  $20,386   $18,114   $15,437   $14,082   $14,026   $2,272   $6,360 
Debt securities   204    191    164    153    158    13    46 
Other   1,134    1,148    1,837    2,086    1,404    (14)   (270)
Total interest income  $21,724   $19,453   $17,438   $16,321   $15,588   $2,271   $6,136 

 

Interest expense totaled $7.0 million for the second quarter of 2026, compared to $6.3 million for the first quarter of 2026 and $5.3 million for the second quarter of 2025. Compared to the first quarter of 2026, the increase in interest expense was primarily attributable to a $73.8 million increase in average interest-bearing liability balances, and a four basis point increase in the cost of interest-bearing liabilities from 3.26% to 3.30%. Compared to the second quarter of 2025, there was a $158.9 million increase in average interest-bearing liability balances, with a 19 basis point decrease in the cost of interest-bearing liabilities, from 3.49% to 3.30%.

 

Net interest income was $14.7 million in the second quarter of 2026, up from $13.2 million in the first quarter of 2026 and $10.2 million in the second quarter of 2025. The quarter-over-quarter increase was primarily driven by growth in the average interest-earning assets of $98.2 million, partially offset by the increase in average interest-bearing liability balances and the higher cost on interest-bearing liabilities. On a year-over-year basis, the growth in net interest income was primarily attributable to a $338.6 million increase in average loan balances.

 

Net interest margin expanded to 4.57% for the second quarter of 2026, compared to 4.49% for the first quarter of 2026 and 4.32% for the second quarter of 2025. Compared to the first quarter of 2026, net interest margin increased by eight basis points, primarily driven by the increase in interest-bearing assets. Compared to the second quarter of 2025, net interest margin increased by 25 basis points, primarily attributable to a decrease in the cost of interest-bearing liabilities and an increase in loan yields.

 

 

 

 

The cost of interest-bearing liabilities was 3.30% in the second quarter of 2026, up from 3.26% in the first quarter of 2026 and down from 3.49% in the second quarter of 2025. The increase from the first quarter of 2026 was primarily due to a note payable issued by the OptimumFinance, LLC subsidiary during the quarter at 10.00% with an average balance of $10.9 million and modestly higher yields on savings, NOW, and money market deposits. Excluding the note payable impact, the cost of interest-bearing liabilities was 3.21%, or five basis points lower from the first quarter of 2026. Compared to the same quarter last year, the cost of interest-bearing liabilities decreased by 19 basis points. This reduction was due to a decrease in yields across the deposit portfolio with disciplined pricing following rate reductions partially offset by an increase in borrowings.

 

Credit loss expense was a $0.4 million reversal during the second quarter of 2026, compared to $0.8 million of expense in the first quarter of 2026, and $1.0 million of expense for the second quarter of 2025. The decrease in credit loss expense from the first quarter was primarily attributable to improvements in the credit quality of the loan portfolio and the evaluation of factors used to determine the credit loss, partially offset by the $132.1 million increase in gross loan balances. Gross charge-offs remained modest at $50,000 while recoveries totaled $39,000, resulting in net charge-offs of $11,000 during the second quarter of 2026. The Company’s allowance for credit losses stood at $11.0 million, or 0.91% of total loans, as of June 30, 2026 compared to 1.01% at March 31, 2026 and 1.19% at June 30, 2025.

 

Noninterest income totaled $2.5 million for the second quarter of 2026, up from $1.8 million in the prior quarter and $1.8 million in the second quarter of 2025. The quarter-over-quarter increase of $0.7 million was primarily driven by an increase in gains on the sale of government guaranteed SBA loans and increases in service charges and fees related to banking services. Compared to the same quarter last year, the $0.7 million increase in noninterest income was primarily related to increases in wire transfers, ACH fees on deposit payment transactions and gains on the sale of government guaranteed SBA loans.

 

Noninterest expenses totaled $8.4 million for the second quarter of 2026, compared to $8.0 million in the first quarter of 2026 and $6.2 million in the second quarter of 2025. Compared to the first quarter of 2026, the increase of $0.4 million primarily relates to a $0.3 million increase in employee compensation expenses. Compared to the second quarter of 2025, the increase of $2.2 million includes increases of $1.5 million, $0.4 million, and $0.2 million in employee compensation expenses, data processing, and other expenses, respectively.

 

The following table depicts the components of noninterest expenses (unaudited) for the quarterly periods presented:

 

   Quarterly Trends   2Q26 change vs 
(Dollars in thousands)  2Q26   1Q26   4Q25   3Q25   2Q25   1Q26   2Q25 
Noninterest expenses                                   
Salaries and employee benefits  $5,279   $4,988   $3,672   $4,004   $3,738   $291   $1,541 
Professional fees   363    295    333    276    275    68    88 
Occupancy and equipment   354    338    328    327    294    16    60 
Data processing   986    914    794    788    625    72    361 
Regulatory assessment   196    179    161    126    202    17    (6)
Losses on sale and write-downs of other real estate owned   -    5    54    -    -    (5)   - 
Other   1,204    1,287    1,401    1,083    1,047    (83)   157 
Total noninterest expenses  $8,382   $8,006   $6,743   $6,604   $6,181   $376   $2,201 

 

Income tax expense was $2.2 million for the second quarter of 2026 compared to $1.5 million in the first quarter of 2026 and $1.3 million in the second quarter of 2025. The effective tax rate for the quarter was 24.7%, compared to 24.8% in the prior quarter and 25.8% from the prior year comparative quarter.

 

Balance Sheet

 

Total assets were $1.40 billion as of June 30, 2026, increasing from $1.27 billion at March 31, 2026, and up from $999.1 million at June 30, 2025. The quarter-over-quarter growth of $132.2 million was primarily attributable to a $125.8 million increase in net loans and a $6.2 million increase in cash and cash equivalents.

 

 

 

 

Cash and cash equivalents at June 30, 2026, were $146.2 million, which increased from $140.0 million at March 31, 2026, and decreased from $181.8 million at June 30, 2025.

 

Investment securities (debt securities available for sale and held-to-maturity) at June 30, 2026, were $26.9 million, compared to $27.3 million at March 31 2026, and $22.6 million at June 30, 2025. There were no debt security purchases during the second quarter of 2026. No sales of debt securities were reported during these periods.

 

Total gross loans at June 30, 2026, were $1.22 billion, an increase from $1.09 million at March 31, 2026, and up from $784.6 million at June 30, 2025. Gross loans increased during the quarter reflecting growth in commercial real estate, consumer, land and construction, commercial, consumer, and residential loans. Compared to June 30, 2025, the gross loan portfolio increased by $432.5 million, reflecting growth primarily in commercial real estate.

 

The allowance for credit losses (“ACL”) was $11.0 million as of June 30, 2026, representing 0.91% of total loans, compared to 1.01% at March 31, 2026. The ACL balance saw a decrease from $11.1 million at March 31, 2026 and increased from $9.3 million at June 30, 2025, respectively. The quarter-over-quarter decrease of $41,000 million was, primarily driven by improvements in the credit quality of the loan portfolio and the evaluation of factors used to determine the credit loss, partially offset by the growth in the loan portfolio. The ACL ratio reflects continued credit discipline and a well-diversified loan portfolio.

 

The following table presents the components of the ACL (unaudited) as of the dates indicated:

 

                       June 30, 2026 change vs 
   June 30,   March 31,   December 31,   September 30,   June 30,   March 31,   June 30, 
   2026   2026   2025   2025   2025   2026   2025 
Beginning balance  $11,061   $10,273   $10,018   $9,338   $8,270   $788   $2,791 
Credit loss expense (reversal) – funded   (30)   791    389    639    1,043    (821)   (1,073)
Charge-offs   (50)   (44)   (201)   (129)   (72)   (6)   22 
Recoveries   39    41    67    170    97    (2)   (58)
Ending balance  $11,020   $11,061   $10,273   $10,018   $9,338   $(41)  $1,682 

 

Nonaccrual loans totaled $2.1 million at June 30, 2026, compared to $2.2 million at March 31, 2026, and $3.2 million at June 30, 2025. The decrease from the prior year was primarily due to a decrease in commercial, and consumer nonaccrual loans of $1.1 million. As of June 30, 2026, there were no loans accruing interest that were 90 days or more past due. Subsequent to June 30, 2026, a nonaccrual loan with a balance of $1.0 million was settled. Additionally, the Company did not report any modified loans to borrowers experiencing financial difficulty during the second quarter of 2026.

 

Nonperforming assets (“NPA”) reflected strong asset quality at June 30, 2026. Nonaccrual loans decreased to $2.1 million from $2.2 million at March 31, 2026 and $3.2 million at June 30, 2025. The $0.1 million decrease from March 31, 2026 was due to payments received on nonaccrual loans. The $1.1 million decrease from June 30, 2025 included payoffs from previously recorded nonaccrual loans, along with the sale of other real estate owned.

 

Total deposits at June 30, 2026, were $1.21 billion, an increase from $1.09 billion at March 31, 2026, and an increase from $878.9 million at June 30, 2025. The increase from March 31, 2026, was attributable to increases in all deposit categories, with a 15.6% increase in time deposits and a $14.5 million, or 4.8% increase in noninterest-bearing demand deposits. The increase from June 30, 2025 was also attributable to increases in all deposit categories, most notably a 60.7% increase in time deposits and a 22.9% increase in noninterest-bearing demand deposits. The Company continues to maintain a diverse and stable funding base.

 

 

 

 

Accumulated other comprehensive loss (“AOCL”) was $4.8 million at June 30, 2026, compared to $4.7 million at March 31, 2026, and $5.4 million at June 30, 2025. The AOCL increased by $0.1 million quarter-over-quarter, primarily due to the increase in mid to long-term interest rates impacting the fair value of available-for-sale securities. Year-over-year, AOCL improved by $0.6 million, reflecting the net impact of favorable fair value changes over the trailing twelve months, resulting in unrealized gains. All AOCL amounts represent unrealized gains and losses, net of applicable income taxes, and have no impact on reported earnings or regulatory capital.

 

Shareholders’ equity was $134.4 million as of June 30, 2026, compared to $126.8 million as of March 31, 2026, and $111.3 million as of June 30, 2025. The increase during the second quarter was principally attributable to net income of $6.7 million, $0.9 million in additional equity through the Company’s ongoing at-the-market (“ATM”) offering, and $0.1 million related to the exchange of Series B and C Preferred shares for nonvoting common stock, partially offset by the $0.1 million increase in AOCL.

 

Earnings Per Share (“EPS”) for the quarter-ended June 30, 2026, the Company reported $0.40 per basic share and $0.28 diluted EPS, compared to $0.39 and $0.20 per basic share and diluted EPS, respectively, for the quarter-ended March 31, 2026, and $0.31 and $0.15 per basic share and diluted EPS, respectively, for the quarter-ended June 30, 2025. The increase was primarily driven by strong growth in net income, which increased from $3.6 million for the quarter-ended June 30, 2025, to $6.7 million for the quarter-ended June 30, 2026. Diluted earnings per share for prior periods have been retrospectively adjusted to reflect the amended conversion rights of the Series B Convertible Preferred Stock, which became effective during the third quarter of 2025, to ensure comparability. Additionally, during the second quarter of 2026, the Company amended its Articles of Incorporation to authorize a new class of Nonvoting Common Stock and exchanged all outstanding Series B and Series C Convertible Preferred Stock for an aggregate of 11,458,351 shares of Nonvoting Common Stock. Because the Series B and Series C Convertible Preferred Stock had already been reflected in the Company’s diluted weighted-average share count under the if-converted method, the exchange did not materially affect diluted earnings per share or dilute existing shareholders’ ownership interests. The primary impact was on the weighted-average common shares used in the calculation of basic earnings per share, as the exchange occurred during the quarter and basic EPS reflects the timing of the conversion. Accordingly, this release presents both basic and diluted earnings per share to facilitate comparability with prior periods and to reflect the transition in the Company’s capital structure during the quarter. Absent future dilutive securities or other changes in the Company’s capital structure, the Company expects basic and diluted earnings per share to be identical in future filings.

 

Although GAAP accounting generally presents book value based on common shares outstanding, the Company believes a more comprehensive measure of shareholder value is on a fully diluted basis.

 

Tangible book value per diluted share at June 30, 2026, was $5.65 at June 30, 2026, up $0.28 per share, or 20.9% annualized from $5.37 at March 31, 2026 on a fully diluted basis, and up $0.89, or 18.7% from $4.76 at June 30, 2025. This is based on total common shares outstanding of 23,799,136 at June 30, 2026 (up from 23,625,209 shares on a fully diluted basis at March 31, 2026, and up from 23,390,612 shares on a fully diluted basis at June 30, 2025). Additional common shares totaling 174,348 common shares were issued in the quarter-ended June 30, 2026 through the Company’s ATM offering. During the second quarter of 2026, the Company exchanged all outstanding Preferred Stock shares, or 1,295 and 875,641 shares of related party Series B Convertible Preferred Stock and Series C Convertible Preferred Stock, respectively, for a total of 11,458,351 shares of Nonvoting Common Stock (see below for further information). This exchange did not change the ownership interests of existing shareholders or result in economic dilution, but rather simplified the Company’s capital structure and future financial reporting by replacing the convertible preferred shares with an equivalent number of nonvoting common shares.

 

The increase in tangible book value per diluted share reflects strong quarterly earnings performance and overall capital strength.

 

FORWARD-LOOKING STATEMENTS

 

Certain statements made in this report which are not statements of historical fact are forward-looking statements within the meaning of, and subject to the protection of, the federal securities laws. Forward looking statements include, among others, statements with respect to our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance and involve known and unknown risks, many of which are beyond our control and which may our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements made in this report. You can identify forward-looking statements through our use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “should,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions. Forward-looking statements are based on our current beliefs and expectations and are subject to significant risks and uncertainties. Accordingly, we caution you not to place undue reliance on such statements. We undertake no obligation to update or revise any of our forward-looking statements for events or circumstances that arise after the statement is made, except as otherwise may be required by law.

 

Investor Relations & Corporate Relations

 

Contact: Seth Denison

Telephone: (305) 401-4140

Email: SDenison@OptimumBank.com

 

 

 

 

OptimumBank Holdings, Inc.

Consolidated Balance Sheets (Unaudited)

(Dollars in thousands)

 

                       June 30, 2026 change vs 
   June 30,   March 31,   December 31,   September 30,   June 30,   March 31,   June 30, 
   2026   2026   2025   2025   2025   2026   2025 
Assets                            
Cash and due from banks  $14,637   $15,074   $9,349   $9,271   $8,833   $(437)  $5,804 
Interest-bearing deposits with banks   131,601    124,942    105,210    225,815    172,921    6,659    (41,320)
Total cash and cash equivalents   146,238    140,016    114,559    235,086    181,754    6,222    (35,516)
Debt securities available for sale   26,646    27,044    25,184    22,926    22,378    (398)   4,268 
Debt securities held-to-maturity   208    212    214    246    260    (4)   (52)
Loans, net of allowance for credit losses   1,204,381    1,078,533    947,294    802,812    774,548    125,848    429,833 
Federal Home Loan Bank stock   1,966    2,678    3,028    658    658    (712)   1,308 
Premises and equipment, net   3,132    2,797    2,490    2,308    2,426    335    706 
Other real estate owned   -    -    551    -    -           
Right-of-use lease assets   2,405    2,511    2,617    2,725    2,552    (106)   (147)
Accrued interest receivable   4,862    3,994    3,621    3,171    3,138    868    1,724 
Deferred tax asset   3,143    3,116    3,108    3,238    3,135    27    8 
Other assets   7,956    7,834   $9,012   $9,873   $8,278    122    (322)
Total assets  $1,400,937   $1,268,735    1,111,678    1,083,043    999,127   $132,202   $401,810 
Liabilities and Stockholders’ Equity                                   
Liabilities                                   
Noninterest-bearing demand deposits  $319,375   $304,887   $266,520   $313,973   $259,816   $14,488   $59,559 
Savings, NOW and money-market deposits   383,297    345,494    306,921    309,087    300,907    37,803    82,390 
Time deposits   511,373    442,502    358,309    336,427    318,142    68,871    193,231 
Total deposits   1,214,045    1,092,883    931,750    959,487    878,865    121,162    335,180 
Federal Home Loan Bank advances   25,000    40,000    50,000    -    -    (15,000)   25,000 
Operating lease liabilities   2,547    2,647    2,745    2,846    2,661    (100)   (114)
Other Borrowings   14,000    -    -    -    -    14,000    14,000 
Other liabilities   10,965    6,357    5,286    3,822    6,253    4,608    4,712 
Total liabilities   1,266,557    1,141,887    989,781    966,155    887,779    124,670    378,778 
Stockholders’ equity                                   
Preferred stock   -                               
Series B Convertible Preferred   -    -    -    -    -    -    - 
Series C Convertible Preferred   -    -    -    -    -    -    - 
Common stock   124    122    115    119    118    2    6 
Nonvoting Common stock   115    -    -    -    -    115    115 
Additional paid-in capital   113,832    112,993    112,578    112,574    112,010    839    1,822 
Retained earnings (accumulated deficit)   25,119    18,464    13,801    8,948    4,625    6,655    20,494 
Accumulated other comprehensive loss   (4,810)   (4,731)   (4,597)   (4,753)   (5,405)   (79)   595 
Total stockholders’ equity   134,380    126,848    121,897    116,888    111,348    7,532    23,032 
Total liabilities and stockholders’ equity  $1,400,937   $1,268,735   $1,111,678   $1,083,043   $999,127   $132,202   $401,810 

 

 

 

 

OptimumBank Holdings, Inc.

Consolidated Statements of Earnings - Quarterly (Unaudited)

(Dollars in thousands, except per share amounts)

 

   Quarterly Trends   2Q26 change vs 
   2Q26   1Q26   4Q25   3Q25   2Q25   1Q26   2Q25 
Interest income                                   
Loans  $20,386    18,114    15,437    14,082    14,026   $2,272   $6,360 
Debt securities   204    191    164    153    158    13    46 
Other   1,134    1,148    1,837    2,086    1,404    (14)   (270)
Total interest income   21,724    19,453    17,438    16,321    15,588    2,271    6,136 
                                    
Interest expense                                   
Deposits   6,633    6,176    5,561    5,273    5,322    457    1,311 
Borrowings   394    87    6    -    24    307    370 
Total interest expense   7,027    6,263    5,567    5,273    5,346    764    1,681 
                                    
Net interest income   14,697    13,190    11,871    11,048    10,242    1,507    4,455 
                                    
Credit loss expense (reversal)   (37)   770    398    763    1,040    (807)   (1,077)
Net interest income after credit loss expense (reversal)   14,734    12,420    11,473    10,285    9,202    700    3,378 
                                    
Noninterest income                                   
Service charges and fees   1,551    1,313    1,268    1,252    1,099    238    452 
Other   935    471    459    730    735    464    200 
Total noninterest income   2,486    1,784    1,727    1,982    1,834    702    652 
                                    
Noninterest expenses                                   
Salaries and employee benefits   5,279    4,988    3,672    4,004    3,738    291    1,541 
Professional fees   363    295    333    276    275    68    88 
Occupancy and equipment   354    338    328    327    294    16    60 
Data processing   986    914    794    788    625    72    361 
Regulatory assessment   196    179    161    126    202    17    (6)
Losses on sale and write-downs of other real estate owned   -    5    54    -    -    (5)   - 
Other   1,204    1,287    1,401    1,083    1,047    (83)   157 
Total noninterest expenses   8,382    8,006    6,743    6,604    6,181    376    2,201 
                                    
Income before income taxes   8,838    6,198    6,457    5,663    4,855    2,640    3,983 
                                    
Income taxes   2,183    1,535    1,604    1,340    1,253    648    930 
Net Income  $6,655    4,663    4,853    4,323    3,602   $1,992   $3,053 
                                    
Earnings per share - Basic  $0.40    0.39    0.42    0.37    0.31   $0.01   $0.10 
Earnings per share - Diluted  $0.28    0.20    0.21    0.18    0.15   $0.08   $0.13 

 

 

 

 

OptimumBank Holdings, Inc.

Consolidated Statements of Earnings - Quarterly (Unaudited)

(Dollars in thousands, except per share amounts)

 

   Six Months Ended     
   June 30,     
   2026   2025   Change 
Interest income               
Loans  $38,501   $27,627   $10,874 
Debt securities   396    318    78 
Other   2,282    2,650    (368)
Total interest income   41,179    30,595    10,584 
                
Interest expense               
Deposits   12,808    10,600    2,208 
Borrowings   481    327    154 
Total interest expense   13,289    10,927    2,362 
                
Net interest income   27,890    19,668    8,222 
                
Credit loss expense   733    875    (142)
Net interest income after credit loss expense   27,157    18,793    8,364 
                
Noninterest income               
Service charges and fees   2,863    2,137    726 
Other   1,406    928    478 
Total noninterest income   4,269    3,065    1,204 
                
Noninterest expenses               
Salaries and employee benefits   10,268    7,119    3,149 
Professional fees   658    522    136 
Occupancy and equipment   693    576    117 
Data processing   1,900    1,158    742 
Regulatory assessment   375    400    (25)
Other   2,496    2,032    462 
Total noninterest expenses   16,390    11,807    4,583 
                
Income before income taxes   15,036    10,051    4,985 
                
Income taxes   3,718    2,579    1,139 
Net Income  $11,318   $7,472   $3,846 
                
Earnings per share - Basic  $0.79   $0.64   $0.16 
Earnings per share - Diluted  $0.48   $0.32   $0.16 

 

 

 

 

OptimumBank Holdings, Inc.

Consolidated Average Balances, Interest Income and Expenses, Yields and Rates (QTD) (Unaudited)

(Dollars in thousands, except average yields/rates)

 

   Three Months Ended June 30, 
   2Q26   1Q26   2Q25 
       Interest   Average       Interest   Average       Interest   Average 
   Average   and   Yield/   Average   and   Yield/   Average   and   Yield/ 
   Balance   Dividends   Rate(1)   Balance   Dividends   Rate(1)   Balance   Dividends   Rate(1) 
Interest-earning assets                                             
Loans  $1,141,791    20,386    7.16%  $1,041,583   $18,114    7.05%  $803,171   $14,026    6.99%
Securities   27,042    204    3.03%   26,527    191    2.92%   22,684    158    2.79%
Other (2)   121,282    1,134    3.75%   123,845    1,148    3.76%   123,254    1,404    4.56%
                                              
Total interest-earning assets/interest income   1,290,115    21,724    6.75%   1,191,955    19,453    6.62%   949,109    15,588    6.57%
                                              
Cash and due from banks   14,702              10,656              12,833           
Premises and equipment   2,825              2,684              2,336           
Other   4,025              4,641              8,421           
                                              
Total assets  $1,311,667             $1,209,936             $972,699           
                                              
Interest-bearing liabilities                                             
Savings, NOW and money-market deposits  $367,750    2,168    2.36%  $334,816   $1,896    2.30%  $280,454   $1,742    2.48%
Time deposits   462,792    4,465    3.87%   436,205    4,280    3.98%   330,118    3,580    4.34%
Borrowings (3)   

23,455

    

394

    

3.37

%   

9,224

    

87

    

3.83

%   

2,222

    

24

    

4.32

%
Notes Payable   10,770    276    10.28%   -    -    -   -    -    -
                                              
Total interest-bearing liabilities/interest expense   853,997    7,027    3.30%   780,245    6,263    3.26%   612,794    5,346    3.49%
                                              
Noninterest-bearing demand deposits   314,858              296,750              241,457           
Other liabilities   11,584              7,852              8,502           
Stockholders’ equity   131,228              125,089              109,946           
                                              
Total liabilities and stockholders’ equity  $1,311,667             $1,209,936             $972,699           
                                              
Net interest income        14,697             $13,190             $10,242      
                                              
Interest-rate spread (4)             3.45%             3.36%             3.08%
                                              
Net interest margin (5)             4.57%             4.49%             4.32%
                                              
Ratio of average interest-earning assets to average interest-bearing liabilities   1.51              1.53              1.55           

 

(1) Annualized.
(2) Includes interest-earning deposits with banks and Federal Home Loan Bank stock dividends.
(3) Includes Federal Home Loan Bank
(4) Interest rate spread represents the difference between average yield on interest-earning assets and the average cost of interest-bearing liabilities.
(5) Net interest margin is net interest income divided by average interest-earning assets.

 

 

 

 

OptimumBank Holdings, Inc.

Consolidated Average Balances, Interest Income and Expenses, Yields and Rates (YTD) (Unaudited)

(Dollars in thousands, except average yields/rates)

 

   Six Months Ended June 30, 
   2026   2025 
                   Interest   Average 
   Average           Average   and   Yield/ 
   Balance           Balance   Dividends   Rate(1) 
Interest-earning assets                              
Loans  $1,091,687    38,501    7.11%  $800,008   $27,627    6.91%
Securities   26,784    396    2.98%   22,831    318    2.79%
Other (2)   122,562    2,282    3.75%   116,559    2,650    4.55%
                               
Total interest-earning assets/interest income   1,241,033    41,179    6.69%   939,398    30,595    6.51%
                               
Cash and due from banks   12,679              13,504           
Premises and equipment   2,754              2,238           
Other   4,321              8,134           
                               
Total assets  $1,260,787             $963,274           
                               
Interest-bearing liabilities                              
Savings, NOW and money-market deposits  $351,283    4,063    2.33%  $278,733   $3,493    2.51%
Time deposits   449,498    8,745    3.92%   321,117    7,107    4.43%
Borrowings (3)   

16,340

    

209

    3.85%   17,223    327    3.80%
Notes Payable   5,385    272    10.18%   -    -    -
                               
Total interest-bearing liabilities/interest expense   817,121    13,289    3.28%   617,073    10,927    3.54%
                               
Noninterest-bearing demand deposits   305,803              230,330           
Other liabilities   9,705              8,102           
Stockholders’ equity   128,158              107,769           
                               
Total liabilities and stockholders’ equity  $1,260,787             $963,274           
                               
Net interest income        27,890             $19,668      
                               
Interest-rate spread (4)             3.41%             2.97%
                               
Net interest margin 5)             4.53%             4.19%
                               
Ratio of average interest-earning assets to average interest-bearing liabilities   1.52              1.52           

 

(1) Annualized.
(2) Includes interest-earning deposits with banks and Federal Home Loan Bank stock dividends.
(3) Includes Federal Home Loan Bank
(4) Interest rate spread represents the difference between average yield on interest-earning assets and the average cost of interest-bearing liabilities.
(5) Net interest margin is net interest income divided by average interest-earning assets.

 

 

 

 

OptimumBank Holdings, Inc.

Segments of Loans Analysis (Unaudited)

(Dollars in thousands)

 

                       June 30, 2026 change vs 
   June 30,   March 31,   December 31,   September 30,   June 30,   March 31,   June 30, 
   2026   2026   2025   2025   2025   2026   2025 
Residential real estate  $78,268   $73,130   $74,018   $66,723   $66,602   $5,138   $11,666 
Multi-family real estate   52,551    63,655    65,693    67,435    68,321    (11,104)   (15,770)
Commercial real estate   905,174    790,238    666,508    524,865    478,224    114,936    426,950 
Land and construction   46,290    41,000    36,212    43,364    61,126    5,290    (14,836)
Commercial   51,389    46,127    48,196    45,604    50,351    5,262    1,038 
Consumer   83,411    76,744    68,166    65,731    59,940    6,667    23,471 
Total loans   1,217,083    1,090,894    958,793    813,722    784,564    126,190    432,519 
Deduct:                                   
Net deferred loan fees and costs   (1,683)   (1,300)   (1,227)   (892)   (678)   (383)   (1,005)
Allowance for credit losses   (11,020)   (11,061)   (10,273)   (10,018)   (9,338)   41    (1,682)
Loans, net  $1,204,380   $1,078,533   $947,293   $802,812   $774,548   $125,848   $429,832 

 

 

 

 

Explanation of Certain Unaudited Non-GAAP Financial Measures

 

This presentation contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

 

Non-GAAP Reconciliations

 

Pre-tax, Pre-provision earnings

 

(Dollars in thousands)  2Q26   1Q26   4Q25   3Q25   2Q25 
Net Income (GAAP)  $6,655   $4,663   $4,853   $4,323   $3,602 
Plus: Income Tax Expense   2,183    1,535    1,604    1,340    1,253 
Plus: Credit Loss Expense (Reversal)   (37)   770    398    763    1,040 
Pre-tax, Pre-provision earnings (Non-GAAP)   8,801    6,968    6,855    6,426    5,895 

 

Tangible Book Value Per Common Share and Per Fully Diluted Share (Unaudited)

 

(Dollars in thousands, except per share amounts)  2Q26   1Q26   4Q25   3Q25   2Q25 
Total Stockholders’ (GAAP) and Tangible Common Equity  $134,380   $126,848   $121,897   $116,888   $111,348 
Common Shares Outstanding - Voting   12,341    12,167    11,534    11,884    11,751 
Common Shares Outstanding - Nonvoting   11,458    -    -    -    - 
Total Common Shares   23,799    12,167    11,534    11,884    11,751 
Effect of conversion of series B preferred shares if converted   -    10,582    11,114    11,114    11,114 
Effect of conversion of series C preferred shares if converted   -    876    876    526    526 
Total Diluted Shares   23,799    23,625    23,524    23,524    23,391 
                          
Tangible Book Value per Share - Diluted  $5.65   $5.37   $5.18   $4.97   $4.76 

 

 

 


 

Exhibit 99.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

26 documents

Press Releases

Other Documents