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OptimumBank Holdings, Inc.
OPHCCIK 0001288855NYSENon-AcceleratedSmaller ReportingNational Commercial BanksFloridaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$16.65M
Total Assets
$1.11B
Equity
$121.90M
Shares Out
12.17M
Op. Cash Flow
$17.84M
Business
OptimumBank Holdings, Inc. is a bank holding company that owns and operates OptimumBank, providing commercial banking services to individuals and businesses. The Bank offers deposit products, treasury and cash management, ATM and Visa debit services, internet and mobile banking, and originates multi-family, residential, commercial real estate, land and construction, consumer, commercial, and SBA-guaranteed loans. Its operations are organized around the bank subsidiary with functions for lending, deposit gathering, investment management, correspondent banking, and outsourced data processing. The Bank serves customers primarily across South Florida counties and secondarily throughout the State of Florida via branch offices and electronic channels.
Summary from filing dated 2025-02-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans | 57 | 52 | 32 | 18 | 10 | |
| Debt securities | 635,000 | 652,000 | 686,000 | 649,000 | 488,000 | |
| Other | 7 | 7 | 3 | 1 | 145,000 | |
| Total interest income | 64 | 60 | 36 | 20 | 10 | |
| Deposits | 21 | 23 | 12 | 3 | 651,000 | |
| Borrowings | 333,000 | 2 | 468,000 | 812,000 | 334,000 | |
| Total interest expense | 22 | 25 | 12 | — | — | |
| Net interest income | 43 | 35 | 24 | 16 | 9 | |
| Credit loss expense | 2 | 2 | 4 | 3 | — | |
| Net interest income after credit loss expense | 41 | 32 | 20 | 12 | 8 | |
| Service charges and fees | 5 | 4 | 3 | 3 | 1 | |
| Other | 2 | 843,000 | 123,000 | 410,000 | 103,000 | |
| Total noninterest income | 7 | 5 | 3 | 3 | 2 | |
| Salaries and employee benefits | 15 | 11 | 8 | 5 | 4 | |
| Professional fees | 1 | 1 | 729,000 | 546,000 | 563,000 | |
| Occupancy and equipment | 1 | 884,000 | 773,000 | 717,000 | 650,000 | |
| Data processing | 3 | 2 | 2 | 1 | 765,000 | |
| Regulatory assessment | 687,000 | 799,000 | 550,000 | 255,000 | 164,000 | |
| Other | 5 | 3 | 2 | 2 | 1 | |
| Total noninterest expenses | 25 | 19 | 15 | 10 | 7 | |
| Net income before income taxes | 22 | 18 | 8 | 5 | 3 | |
| Income tax expense | 6 | 5 | 2 | 1 | −3 | |
| Net income | 17 | 13 | 6 | 4 | 6 | |
| Earnings per share Basic | 1.42 | 1.39 | 0.87 | 0.68 | 1.61 | |
| Earnings per share Diluted | 0.71 | 0.63 | 0.87 | 0.68 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 9 | 14 | 14 | 20 | 14 | |
| Interest-bearing deposits with banks | 105 | 80 | 63 | 52 | 45 | |
| Total cash and cash equivalents | 115 | 94 | 77 | 72 | 59 | |
| Debt securities available for sale | 25 | 23 | 24 | 25 | 34 | |
| Debt securities held-to-maturity (fair value of $190 and $247) | 214,000 | 281,000 | 360,000 | 540,000 | 1 | |
| Loans, net of allowance for credit losses of $10,273 and $8,660 | 947 | 795 | 671 | 477 | — | |
| Federal Home Loan Bank stock | 3 | 3 | 3 | 600,000 | 793,000 | |
| Premises and equipment, net | 2 | 2 | 1 | 934,000 | 843,000 | |
| Other real estate owned | 551,000 | — | — | — | — | |
| Right-of-use lease assets | 3 | 3 | 2 | 2 | 2 | |
| Accrued interest receivable | 4 | 3 | 2 | 1 | 971,000 | |
| Deferred tax asset | 3 | 3 | 3 | 4 | 3 | |
| Other assets | 9 | 7 | 7 | 2 | 2 | |
| Total assets | 1,112 | 933 | 791 | 585 | 352 | |
| Noninterest-bearing demand deposits | 267 | 212 | 195 | 159 | 124 | |
| Savings, NOW and money-market deposits | 307 | 278 | 323 | 109 | 155 | |
| Time deposits | 358 | 282 | 122 | 240 | 13 | |
| Total deposits | 932 | 772 | 640 | 508 | 292 | |
| Federal Home Loan Bank advances | 50 | 50 | 62 | 10 | 18 | |
| Operating lease liabilities | 3 | 3 | 2 | 2 | 2 | |
| Other liabilities | 5 | 5 | 4 | 3 | 996,000 | |
| Total liabilities | 990 | 830 | 721 | 523 | 313 | |
| Commitments and contingencies (Notes 9 and 15) | — | — | — | — | — | |
| Preferred Stock, value | — | — | — | — | — | |
| Common stock, $.01 par value; 30,000,000 shares authorized, 11,533,943 and 11,636,092 shares issued and outstanding | 115,000 | 116,000 | 72,000 | 71,000 | 48,000 | |
| Additional paid-in capital | 113 | 111 | 91 | 90 | 65 | |
| Retained earnings (accumulated deficit) | 14 | −3 | −16 | −22 | −26 | |
| Accumulated other comprehensive loss | −5 | −6 | −5 | −6 | −635,000 | |
| Total stockholders equity | 122 | 103 | 70 | 63 | 39 | |
| Total liabilities and stockholders equity | 1,112 | 933 | 791 | 585 | 352 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Credit loss expense | 2 | 2 | 4 | 3 | — | |
| Write-down of other real estate owned | 54,000 | — | — | — | — | |
| Depreciation and amortization | 468,000 | 301,000 | 227,000 | 231,000 | 210,000 | |
| Deferred income tax (benefit) expense | −462,000 | 10,000 | 821,000 | 1 | −3 | |
| Net accretion of fees, premiums and discounts | −168,000 | −59,000 | −4,000 | −271,000 | −772,000 | |
| Stock-based compensation expense | 875,000 | 490,000 | 490,000 | 372,000 | 199,000 | |
| Increase in accrued interest receivable | −273,000 | −874,000 | −1 | −473,000 | 365,000 | |
| Amortization of right-of-use asset | 416,000 | 298,000 | 333,000 | 338,000 | — | |
| Net decrease in operating lease liabilities | −383,000 | −290,000 | −299,000 | −323,000 | −73,000 | |
| Increase in other assets | −2 | −730,000 | −5 | 196,000 | −809,000 | |
| Increase in other liabilities | 397,000 | 1 | 939,000 | 1 | 649,000 | |
| Net cash provided by operating activities | 18 | 16 | 7 | 10 | 4 | |
| Principal repayments of debt securities available for sale | 1 | 1 | 1 | 2 | — | |
| Principal repayments of debt securities held-to-maturity | 67,000 | 80,000 | 184,000 | 509,000 | — | |
| Net increase in loans | −155 | −126 | −198 | −232 | −96 | |
| Purchases of premises and equipment | −896,000 | −988,000 | −668,000 | −322,000 | −381,000 | |
| Purchase of debt securities available for sale | −2 | — | — | — | −20 | |
| Purchases (redemption) of FHLB stock | −99,000 | 425,000 | −3 | 193,000 | 299,000 | |
| Net cash used in investing activities | −157 | −125 | −200 | −230 | −109 | |
| Net increase in deposits | 160 | 133 | 132 | 215 | 102 | |
| Net (decrease) increase in FHLB Advances | — | −12 | 52 | −8 | −5 | |
| Net (decrease) increase in FRB Advances | — | −14 | 14 | — | — | |
| Net Proceeds from sale of preferred stock (net of offering costs of 0 and $118) | — | 2 | — | 15 | 4 | |
| Proceeds from sale of common stock (net of offering costs of $34 and $576) | 217,000 | 18 | 324,000 | 10 | 9 | |
| Net cash provided by financing activities | 160 | 127 | 198 | 232 | 109 | |
| Net increase in cash and cash equivalents | 21 | 17 | 5 | 13 | 4 | |
| Interest | 22 | 26 | 12 | 4 | 1 | |
| Income taxes | 7 | 2 | 1 | — | — | |
| Net change in unrealized gain on debt securities available for sale, net of income taxes | 972,000 | −257,000 | 506,000 | −5 | −566,000 | |
| Amortization of unrealized loss on debt securities transferred to held-to-maturity | 1,000 | 2,000 | 5,000 | 16,000 | 110,000 | |
| Loans transferred to other real estate owned through foreclosure | 605,000 | — | — | — | — | |
| Right-of use lease assets obtained in exchange for operating lease liabilities | 354,000 | 816,000 | 375,000 | 720,000 | 925,000 |
Filings
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