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OptimumBank Appoints Martin Z. Schmidt as Director

FORT LAUDERDALE, Fla., Aug. 5, 2015 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ:OPHC), the parent company of OptimumBank ("Company"), announced today that Martin Z. Schmidt has joined the Board of Directors of the Bank.

"OptimumBank Holdings shareholders and the OptimumBank management team will benefit from Mr. Schmidt's diverse leadership abilities and insights on financial products, expertise in pension and portfolio investment management, and his 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 Schmidt and the future of this Company," said Chairman Moishe Gubin.

Mr. Schmidt is a resident of Boynton Beach, Florida and is affiliated with Gilman Ciocia. The company provides federal, state and local tax preparation services to individuals, predominantly in the middle and upper income tax brackets, accounting services to small and midsize companies and financial planning services, including securities brokerage, investment management services, insurance and financing services. He is also an exhibited photographer, woodworker and musician. Mr. Schmidt served as the Chairman for his community Holocaust Memorial for twenty-five years.

OptimumBank is committed to strengthening the directorate and attracting qualified directors in our local market area. Chairman Gubin noted, "The appointment of Mr. Schmidt strengthens our continuing commitment 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.