OptimumBank Holdings, Inc. Leases Disclosure
(6) Leases. The Company’s operating lease obligation includes a headquarter office and three branch locations as of December 31, 2025. During 2025, the Company entered into two additional operating lease agreements related to its headquarters facilities. The Company’s leases have a weighted-average remaining lease term of approximately 6.8 years. The components of lease expense and other lease information are as follows:
| For the year ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| (dollars in thousands) | ||||||||
| Operating lease cost | $ | 463 | $ | 370 | ||||
| Cash paid for amounts included in measurement of lease liabilities | $ | 427 | $ | 334 | ||||
At December 31, 2025 | At December 31, 2024 | |||||||
| (dollars in thousands) | ||||||||
| Operating lease right-of-use assets | $ | 2,617 | $ | 2,679 | ||||
| Operating lease liabilities | $ | 2,745 | $ | 2,774 | ||||
| Weighted-average remaining lease term | 6.8 years | 7.8 years | ||||||
| Weighted-average discount rate | 4.0 | % | 4.9 | % | ||||
(continued)
OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(6) Leases, Continued.
Future minimum lease payments under non-cancellable leases, reconciled to our discounted operating lease liabilities are as follows (in thousands):
At December 31, 2025 | ||||
| (dollars in thousands) | ||||
| 2026 | $ | 499 | ||
| 2027 | 534 | |||
| 2028 | 543 | |||
| 2029 | 463 | |||
| 2030 | 268 | |||
| Thereafter | 828 | |||
| Total future minimum lease payments | 3,135 | |||
| Less imputed interest | (390 | ) | ||
| Total operating lease liability | $ | 2,745 | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Mar 6, 2023 | |
| 2021 | Mar 8, 2022 | |
| 2020 | Mar 25, 2021 | |
| 2019 | Mar 25, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.