OptimumBank Holdings, Inc. Financial Performance for the Second Quarter of 2026

About this update from Optimumbank Holdings, Inc.

[{"type":"image","size":{"original":{"url":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw=="}},"alt":"OptimumBank Holdings, Inc."},{"type":"text","tagName":"p","content":" Fort Lauderdale, FL, July 24, 2026 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (NYSE American: OPHC) (the \"Company\") is a financial holding company and owns 100% of OptimumBank (the \"Bank\"), a Florida-chartered commercial bank, OptimumHUD Loans, LLC (d/b/a as OptimumFunding, LLC), a wholly owned non-bank Bridge and HUD-lender and OptimumFinance, LLC, a non-bank, wholly owned financing subsidiary. The Company is pleased to announce net income of $6.7 million, or $0.40 per basic share, and $0.28 per diluted share, for the second quarter of 2026, compared to $4.7 million, or $0.39 per basic share, and $0.20 per diluted share in the first quarter of 2026 and $3.6 million, or $0.31 per basic share, and $0.15 per diluted share, for the comparable quarter last year. For the six months ended June 30, 2026, net income was $11.3 million, or $0.79 per basic share, and $0.48 per diluted share, compared to net income of $7.5 million, or $0.64 per basic share, and $0.32 per diluted share, for the six months ended June 30, 2025. The increase of $3.8 million in net income for the six-month ended June 30, 2026, compared to the same period in 2025, was primarily driven by a $8.2 million improvement in net interest income and $1.2 million increase in noninterest income, partially offset by a $4.6 million increase in noninterest expenses and the corresponding increase in income tax expense. Diluted shares include the impact of the exchange of Series B and C preferred shares to nonvoting common stock that occurred during the second quarter of 2026. "},{"type":"text","tagName":"p","content":" The Company will host a webcast call to discuss the results of the second quarter of 2026 on August 13, 2026, at 1:00pm ET. Those interested in viewing the Company's presentation are encouraged to register for the live Webcast, at the following link: https://events.q4inc.com/attendee/432597526/guest?t=1784670390505 . Company management will also be available to respond to questions at the conclusion of the presentation. "},{"type":"text","tagName":"p","content":" The Company continued with strong growth throughout the second quarter of 2026. The gross loan portfolio increased by $126.2 million, or 11.6%, from March 31, 2026 to $1.2 billion at June 30, 2026. Total deposits increased by $121.2 million from March 31, 2026, totaling $1.2 billion at June 30, 2026, or 11.1% from the prior quarter. This also represents growth of $335.2 million in total deposits since June 30, 2025, or an increase of 38.1%. "},{"type":"text","tagName":"p","content":" Highlights for the Second Quarter of 2026 "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Net income of $6.7 million, or $0.40 per basic share, and $0.28 per diluted share (\"diluted EPS\") for the quarter-ended June 30, 2026. "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Return on Average Assets (\"ROAA\") was 2.04% for the second quarter of 2026, compared to 1.56% in the first quarter of 2026 (both annualized). "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Return on Average Equity (\"ROAE\") was 20.34% for the second quarter of 2026, compared to 15.12% in the first quarter of 2026 (both annualized). "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Net interest margin was 4.57%, reflecting an 8 basis point increase from 4.49% in the first quarter of 2026. "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Total assets grew by $132.2 million to $1.4 billion from March 31, 2026. "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Total deposits increased by $121.2 million to $1.2 billion from March 31, 2026. "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Gross loans increased by $126.2 million during the quarter to $1.2 billion, compared to $1.1 billion at March 31, 2026. "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" ● "}]},{"val":[{"type":"text","tagName":"p","content":" Total stockholders' equity increased by $7.5 million to $134.4 million as of June 30, 2026, up from $126.9 million as of March 31, 2026, reflecting continued earnings retention. "}]}]}]},{"type":"text","tagName":"p","content":" During the second quarter, the Company successfully completed its previously announced leadership transition. Effective May 1, 2026, Moishe Gubin, who has served as Chairman of the Board for more than sixteen years, assumed the additional role of Chief Executive Officer. Having played a central role in the Company's strategic direction, governance, and growth over the past decade and a half, Mr. Gubin brings deep institutional knowledge and a thorough understanding of the Bank's operations, customers, and long-term objectives. At the same time, Braden R. Smith joined the Bank as President, while Timothy Terry retired following thirteen years of dedicated service and continues to support the orderly transition of responsibilities. Together, the Company's experienced leadership team remains focused on executing its strategic growth initiatives and delivering long-term shareholder value. "},{"type":"text","tagName":"p","content":" \"Our momentum continued to accelerate during the second quarter as we delivered another record quarter while executing on the strategic initiatives that position the Company for continued long-term growth,\" said Chairman of the Board and Chief Executive Officer Moishe Gubin. \"We delivered record quarterly earnings while continuing to generate exceptional loan and deposit growth, expand our net interest margin, and maintain strong credit quality. At the same time, we have begun executing on our strategy to expand into complementary financial services through OptimumFinance, further diversifying our platform for future growth. We remain focused on creating long-term value for our shareholders.\" "},{"type":"text","tagName":"p","content":" Net interest income for the quarter-ended June 30, 2026 increased to $14.7 million, up by $1.5 million from the first quarter of 2026 and $4.5 million from the second quarter of 2025, supported by higher yields on loans and securities and lower costs on interest-bearing liabilities. The cost of interest-bearing liabilities was 3.30%, down by 19 basis points from 3.49% in the second quarter of 2025, while interest-earning asset yields rose 22 basis points to 6.75%. The Company's net interest margin rose 25 basis points from the second quarter of 2025 to 4.57% as of quarter-ended June 30, 2026, a reflection of disciplined loan and deposit pricing strategy, prudent liquidity management, and balance sheet optimization. "},{"type":"text","tagName":"p","content":" Noninterest income for the quarter-ended June 30, 2026 increased to $2.5 million, or by $0.7 million from the prior quarter, primarily driven by an increase in gains on the sale of government guaranteed SBA loans and increases in service charges and fees related to banking services. Noninterest expenses increased to $8.4 million, or $0.4 million from the first quarter, primarily relating to an increase in employee compensation expenses. The Company's efficiency ratio (non-GAAP measure) was 48.78% for the second quarter of 2026, consistent with prudent cost management amid balance sheet expansion and associated revenue expansion. "},{"type":"text","tagName":"p","content":" Credit loss reversal for the quarter-ended June 30, 2026 was $0.4 million, primarily due to improvements in the credit quality of the loan portfolio and the evaluation of factors used to determine the credit loss, partially offset by the growth in the loan portfolio. Gross charge-offs remained modest at $50,000 while recoveries totaled $39,000 resulting in net charge-offs of only $11,000 during the second quarter of 2026. The allowance for credit losses stood at $11.0 million as of June 30, 2026, or 0.91% of total loans. "},{"type":"text","tagName":"p","content":" Loan portfolio growth remained strong in the second quarter of 2026. Gross loans increased by $126.2 million from the prior quarter. Commercial real estate continued to expand, growing by $114.9 million in the second quarter. Additionally, there were increases in the consumer, land and construction, commercial, and residential portfolio segments, up $6.7 million, $5.3 million, $5.3 million, and $5.1 million, respectively. These gains were partially offset by a decline of $11.1 million in multi-family real estate. "},{"type":"text","tagName":"p","content":" The continued growth experienced in the loan portfolio is due to the implementation of our relationship-based banking model and the success of our lenders in competing for new business, as well as OptimumFinance, LLC commencing activity in the second quarter of 2026. OptimumFinance, LLC completed its first loan in the second quarter of 2026 for $14.2 million, and is expected to continue growing through 2026. During the quarter, OptimumFinance, LLC issued a $14.0 million note payable to fund its first loan which is guaranteed by the Company. OptimumFinance leveraged their balance sheet to attain the highest yield they could earn for the risk they took in the loan they made. "},{"type":"text","tagName":"p","content":" On the funding side, total deposits increased by $121.2 million to $1.2 billion from the first quarter of 2026, with strong sequential growth across all deposit categories. The Company had $25.0 million in Federal Home Loan Bank (\"FHLB\") advances outstanding at June 30, 2026, a decrease of $15.0 million from March 31, 2026. "},{"type":"text","tagName":"p","content":" The Bank's capital levels remain strong, with a Tier 1 Leverage Ratio of 10.54%, well above regulatory minimums. The Company remains well positioned to support continued growth and earnings momentum. The modest decline from the prior quarter of 20 basis points reflects strong asset growth, as capital deployment into earning assets outpaced retained earnings, while capital levels remain well above regulatory requirements. "},{"type":"text","tagName":"p","content":" The Company's outlook remains constructive. During the first quarter of 2026, OptimumBank was ranked number 49 out of 3,465 U.S. community banks by S&P Global Market Intelligence, placing the Company among the top 1.4% nationwide. During the second quarter of 2026, the Company was named among the top 10% of publicly traded community banks in the nation in the Raymond James Community Bankers Cup. The Company's growing visibility within the investment community was further demonstrated during the quarter as Alliance Global Partners and Brean Capital initiated equity research coverage with Buy ratings, while Compass Point upgraded its rating on the Company from Neutral to Buy. As a result, all three independent equity research firms currently covering the Company maintain Buy ratings. The Company continues to invest in technology, talent, and targeted growth initiatives that reinforce its position as one of the most dynamic and rapidly growing community banks in South Florida. We remain grateful for the trust and partnership of our shareholders, customers, and employees. "},{"type":"text","tagName":"p","content":" The following table presents the Company's quarterly trends of the consolidated financial highlights (unaudited) for the periods presented (see below for a summary of non-GAAP reconciliation): "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":" Quarterly Trends "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":" 2Q26 change vs "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":" 2Q26 "}]},{"val":[{"type":"text","tagName":"p","content":"   "}]},{"val":[{"type":"text","tagName":"p","content":"   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The decrease in credit loss expense from the first quarter was primarily attributable to improvements in the credit quality of the loan portfolio and the evaluation of factors used to determine the credit loss, partially offset by the $132.1 million increase in gross loan balances. Gross charge-offs remained modest at $50,000 while recoveries totaled $39,000, resulting in net charge-offs of $11,000 during the second quarter of 2026. The Company's allowance for credit losses stood at $11.0 million, or 0.91% of total loans, as of June 30, 2026 compared to 1.01% at March 31, 2026 and 1.19% at June 30, 2025. "},{"type":"text","tagName":"p","content":" Noninterest income totaled $2.5 million for the second quarter of 2026, up from $1.8 million in the prior quarter and $1.8 million in the second quarter of 2025. 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