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OptimumBank Appoints Norman J. Ginsparg as Director

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FORT LAUDERDALE, Fla., July 3, 2014 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (Nasdaq:OPHC), the parent company of OptimumBank ("Company"), announced today that Norman J. Ginsparg has joined the Board of Directors of the Bank.

"OptimumBank Holdings shareholders and the OptimumBank management team will benefit from Mr. Ginsparg's diverse leadership abilities and insights, legal knowledge and perspectives, business experience and vast contacts in the South Florida community. He will introduce the Bank to potential new local depositors and borrowers, and we have every confidence in Director Ginsparg and the future of this Company," said Chairman Moishe Gubin.

Mr. Ginsparg is a resident of Hollywood, Florida and is the Chief Executive Officer of ALF Holdings, Inc. (North Miami, Florida), which provides financial, legal risk management, regulatory and strategic consulting services to healthcare facilities. He is also the Director of Legal Affairs for EMI Enterprises, Inc. Mr. Ginsparg is a member of the Illinois Bar and while in private practice between 1992 and 2000, Mr. Ginsparg was a business litigator.

OptimumBank is committed to strengthening the directorate and attracting qualified residents of the State of Florida to the Bank's Board to ensure compliance with the provisions of Section 658.33(2), Florida Statutes. Chairman Gubin noted, "The appointment of Mr. Ginsparg is the first milestone in achieving both of these initiatives."

The Company offers a wide array of lending and retail banking products to individuals and businesses in Broward, Miami-Dade and Palm Beach counties through its executive office and three branch offices in Broward County, Florida.

This press release includes forward-looking statements and OptimumBank Holdings, Inc. intends for such statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements describe OptimumBank Holdings, Inc.'s expectations regarding future events. Future events are difficult to predict and are subject to risk and uncertainty which could cause actual results to differ materially and adversely. OptimumBank Holdings, Inc. undertakes no obligation to revise or amend any forward-looking statements to reflect subsequent events or circumstances.

CONTACT: For more information contact: Moishe Gubin, Chairman of the Board or Thomas A. Procelli, Chief Operating Officer at (954) 900-2800

Source:OptimumBank Holdings, Inc.