OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces 2023 Full Year Results for OptimumBank (the “Bank”)

Fort Lauderdale, FL, Feb. 05, 2024 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc., (NASDAQ: OPHC) (the “Bank”) ended the year with net income of $13,808,107 before credit loss and tax expenses, or $7,254,285 including those expenses. At December 31, 2023, the Bank had shareholder equity amounting to $70 million. The Bank has been growing assets year over year and ended 2023 at $791,052,397, 35.53% larger than the prior year of $583,693,724. The Bank’s loan portfolio increased 40.69% to $680,069,842 over the prior year of $483,382,801. The Bank’s secured lending limit has reached $18,749,670 and its unsecured lending limit to $11,249,802. These results are unaudited and do not reflect the consolidation of the Bank with its parent holding company, OptimumBank Holdings, Inc. Such consolidated results may be materially different than the Bank-only results reported above.