OptimumBank Holdings Announces the Appointment of Jeffry T. Wagner as Chief Financial Officer

OptimumBank Holdings Announces the Appointment of Jeffry T. Wagner as Chief
Financial Officer

FORT LAUDERDALE, Fla., March 11, 2013 (GLOBE NEWSWIRE) -- OptimumBank
Holdings, Inc. (Nasdaq:OPHC), the parent company of OptimumBank ("Company"),
announced today the appointment of Jeffry T. Wagner as Chief Financial
Officer, effective today, and subject to regulatory approval. Mr. Wagner
brings strong financial foresight and integrity to the role. "His ability to
handle the issues of financial management and anticipate the concerns facing
the banking industry is impressive and of great value to the Company. With
strong analytical skills and assertiveness, Mr. Wagner will focus his efforts
on helping us continue to improve the NIM (Net Interest Margin) which is
currently at a two year high. We are confident Mr. Wagner has the ability to
set forth the initiatives and strategies necessary to improve the performance
of OptimumBank," said Moishe Gubin, Chairman of the Board.

Prior to joining the Company, Mr. Wagner served as CFO, Executive Officer and
Treasurer of Florida Business Bank in Melbourne, Florida, from 2007 to 2012.
From 2002-2006, Mr. Wagner was President of Jeff Wagner Consulting LLC,
specializing in business plans, consolidation planning, modeling, settlements,
growth planning and other assignments, as well as providing interim or
part-time CFO services. Prior to that, he was Senior Vice President, Director
of Planning and Analysis for Huntington Bancshares in Columbus, Ohio.

"We are proud to have Jeffry Wagner 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,
Florida.

The OptimumBank Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3232

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: Moishe Gubin, Chairman of the Board
         or
         Thomas A. Procelli, Chief Operating Officer at (954) 776-2332

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