OptimumBank Holdings Company profile
About OptimumBank Holdings, Inc.
OptimumBank Holdings, Inc. is a one-bank holding company. The Company operates through its subsidiary, OptimumBank (the Bank), a Florida-chartered commercial bank. The Bank’s deposits are insured up to applicable limits by the Federal Deposit Insurance Corporation (FDIC). The Bank offers a variety of community banking services to individual and corporate customers through its two banking offices located in Broward County, Florida. The Bank provides a range of consumer and commercial banking services to individuals and businesses. The Bank services include demand interest-bearing and noninterest-bearing accounts, money market deposit accounts, negotiable order of withdrawal (NOW) accounts, time deposits, Visa debit and automated teller machine (ATM) cards, cash management, direct deposits, notary services, money orders, night depository, cashier’s checks, domestic collections and banking by mail. The Bank makes commercial real estate loans and consumer loans.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, OptimumBank Holdings, Inc. interest income increased 55% to $10.4M. Net interest income after loan loss provision increased 65% to $8.2M. Net income totaled $6.3M vs. loss of $782K. Net interest income after loan loss provision reflects Loans increase of 52% to $9.8M, Debt securities increase from $192K to $488K, Other increase of 38% to $145K.
Equity composition
Common Stock $.01 Par, 04/11, 6M auth., 819,358 issd., Insiders control 64.73%. IPO: N/A. 06/07 & 05/06, 5% stock dividends. 06/08, 5% stock dividend. 06/09, 5% stock dividend. 11/10, 1-for-4 reverse split. 06/13, 1-for-4 reverse stock split. 01/16, 1-for-10 reverse stock split
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