OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Second Quarter Results for OptimumBank
09 Agosto 2022 - 6:30PM
OptimumBank, a Florida banking corporation (the “Bank”) ended the
second quarter of 2022 with a pre-tax income of $1,266M, after a
loan loss provision of $991M. Its loan portfolio increased this
quarter to $353,597M or by 27.4% over the prior quarter’s ending
balance amount of $277,508M. During the second quarter, the net
interest margin reflects a positive trend beginning at 3.56% in
January and reaching 4.04% in June. Non-interest income, including
service charges on deposit accounts and fees for other banking
services, generated $764M this quarter. At June 30, 2022, deposits
have grown to over $341,819M.
Chairman Gubin stated “I am proud that we are
performing better than most of our peers in most banking metrics.
As of June 30, 2022, the Bank is well capitalized under regulatory
guidelines with a leverage capital ratio of 12.85% with no impaired
loans during calendar year 2022. Year-to-date fully diluted
earnings per share is $0.33 and with a normal run rate of $750M we
expect it to reach $0.66 by the end of the year."
As Chairman Gubin previously stated in a press
release published earlier this month: “We are proud to be
recognized this year as one of the top commercial bank lenders in
the country with asset size ranging from $300M to $1B.
Additionally, we accomplished year-to-date loan closings of
$135,495,405 and continue to have a growing and robust pipeline of
lending opportunities month after month. With a seasoned management
team and staff in place we are closing loans in a timely manner
with superior customer service contributing to our strong
performance in the second quarter. Our expectations are for
continued momentum over many successive quarters initially
leading to approximately $500M in assets during the third quarter
of this year. Additionally, we believe we will exceed $9MM in net
income before provision expense and tax by the end of the
year.”
About
OptimumBank Holdings, Inc.
OptimumBank Holdings, Inc. operates as the bank
holding company for OptimumBank that provides a range of consumer
and commercial banking services to individuals and businesses. The
company accepts demand interest-bearing and noninterest-bearing,
savings, money market, NOW, and time deposit accounts, as well as
certificates of deposit; and offers residential and commercial real
estate, commercial, and consumer loans, as well as lending lines
for working capital needs. It also provides debit and ATM cards;
investment, cash management, and notary and night depository
services; and direct deposits, money orders, cashier's checks,
domestic collections, drive-in tellers, and banking by mail, as
well as Internet banking services. In addition, the company engages
in holding, managing, and disposing foreclosed real estate. It
operates through banking offices located in Broward County,
Florida. OptimumBank Holdings, Inc. was founded in 2000 and is
based in Fort Lauderdale, Florida.
Safe Harbor Statement:
This press release contains forward-looking
statements that can be identified by terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Many
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from any future results or implied by such
statements. These factors include, but are not limited to, our
limited operating history, managing our expected growth, risks
associated with integration of acquired websites, possible
inadvertent infringement of third-party intellectual property
rights, our ability to effectively compete, our acquisition
strategy, and a limited public market for our common stock,
among other risks. OptimumBank Holdings, Inc.'s future results may
also be impacted by other risk factors listed from time-to-time in
its SEC filings. Many factors are difficult to predict accurately
and are generally beyond the company's control. Forward looking
statements speak only as to the date they are made and OptimumBank
Holdings, Inc. does not undertake to update forward-looking
statements to reflect circumstances or events that occur after the
date the forward-looking statements are made.
Investor Relations:OptimumBank Holdings.
Inc.investor@optimumbank.com +1.954.900.2850
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