OptimumBank Announces Departure of Richard L. Browdy and the Appointment of
Timothy L. Terry as Chief Executive Officer
FORT LAUDERDALE, Fla., Feb. 12, 2013 (GLOBE NEWSWIRE) -- OptimumBank Holdings,
Inc. (Nasdaq:OPHC), the parent company of OptimumBank ("Company"), announced
today that Richard L. Browdy has resigned as President, Interim Chief
Executive Officer and Chief Financial Officer of the Company and as a member
of the OptimumBank and OPHC Board of Directors to pursue other career
"Mr. Browdy served as President and Chief Financial Officer of the Bank since
its inception in 2000 and was instrumental in organizing the Bank. We thank
Richard for his past leadership and commitment to OptimumBank and we wish him
success in his future endeavors," said Moishe Gubin, OPHC Chairman.
Contemporaneously with the announcement of Richard L. Browdy's departure, the
Company also announced the appointment of Timothy L. Terry as Chief Executive
Officer, effective today. Mr. Terry brings a wealth of experience and savvy to
the role. "His knowledge of the banking and business landscape of the State of
Florida is impressive and of great value to the Company. We are confident Mr.
Terry will propel OptimumBank forward in the immediate future," said Moishe
Gubin, Chairman of the Board.
Prior to joining the Company, Mr. Terry served as Interim President and CEO of
Putnam State Bank in Palatka, Florida, from 2011 to 2012.From 2005-2011, Mr.
Terry was President and CEO of Enterprise Bank of Florida, after initially
serving as Executive Vice President, Senior Loan Officer, Branch Administrator
and Sales Manager from 2002. From 1999-2002, Mr. Terry served as Executive
Vice President and Senior Loan Officer of Palm Beach National Bank and Trust,
after joining the company in 1993. From 1985-1993, Mr. Terry was Vice
President of Flagler National Bank, West Palm Beach, Florida. Prior to that,
he was Assistant Vice President of SNB Bank and Trust in Battle Creek,
"We are proud to have Timothy Terry associated with this Company and we have
every confidence in him and the future of this Company," said Mr. Gubin.
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 offices and three branch offices in Broward County,
The OptimumBank Holdings, Inc. logo is available at
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
CONTACT: For more information contact:
Moishe Gubin, Chairman of the Board or
Thomas A. Procelli, Chief Operating Officer at (954) 776-2332
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