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OptimumBank Holdings, Inc. Announces Third Quarter Results

FORT LAUDERDALE, Fla., Nov. 13, 2015 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NASDAQ:OPHC), the parent company of OptimumBank (“Company”), announced today net earnings for the third quarter ending September 30, 2015 of approximately $46,000, or $.01 per basic share, as compared to net loss for the same period last year of approximately ($79,000), or ($.01) per basic share.

OptimumBank (Bank), the sole subsidiary of the Company, earned approximately $155,000 for the third quarter of 2015. This continues an unbroken chain of positive quarterly earnings starting with the first quarter of 2014.

Bank Chairman Moishe Gubin stated, “It is a very competitive market place, especially for community banks, but OptimumBank has continued to book high quality loans and gain deposits at reasonable rates.”

Mr. Gubin commented, “The Bank has recently added several seasoned executives in preparation for anticipated retirements to allow for a seamless transition. The new employees have skill sets well suited for the ongoing transformation of OptimumBank and the migrations to a mobile banking platform.”

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.

For more information contact: Moishe Gubin, Chairman of the Bank Board, or Joel Klein, Chairman of Audit Committee at: (954) 900-2800

Source:OptimumBank Holdings, Inc.