OptimumBank Holdings, Inc. Announces First Quarter Results

OptimumBank Holdings, Inc. Announces First Quarter Results

FORT LAUDERDALE, Fla., April 30, 2013 (GLOBE NEWSWIRE) -- OptimumBank
Holdings, Inc. (Nasdaq:OPHC), the parent company of OptimumBank ("Company"),
announced today a net loss for the first quarter ending March 31, 2013 of
approximately $(2.2) million, or $(.07) per basic share, as compared to a net
loss for the same period last year of approximately $(0.6) million, or $(.03)
per basic share.

A large portion of the net loss for the 2013 first quarter was a $1.2 million
write-down resulting from a lower current valuation concerning one problem
loan relationship. Chairman Moishe Gubin said, "I am disappointed with the
results, but we have to address our legacy issues as they surface." Chairman
Gubin also commented that core performance continues to improve with the net
interest margin increasing from 1.74% in March 2012 to 2.55% in March 2013, a
.81% improvement. In addition, non-credit related, non-interest expense
declined from the same period last year by 11.2%.

As of the end of the quarter, the loan origination pipeline was $6.6 million.
Chairman Gubin said, "We are committed to lending to small and medium-sized
businesses in our markets and meeting all of their banking needs. The bank
recently hired Gus A. Varona, commercial bank loan officer, to help us achieve
this mission and we welcome his contribution in achieving the loan production
goals necessary for returning to profitability. Mr. Varona brings significant
experience in all aspects of commercial lending in South Florida.

The Company reduced non-performing assets by approximately 24.6% or $8.6
million to a total of $26.4 million compared to March 31, 2012. Chairman Gubin
noted, "We are making progress and continue to have a number of transactions
in process that should further reduce non-performing assets in 2013." The
Company has already completed multiple sales of OREO properties during the
second quarter.

The Company's capital ratios are below its regulatory capital requirements at
March 31, 2013, with a tier one leverage capital ratio of 7.10% and a total
risk-based capital ratio of 9.93%. The Company expects to raise additional
capital during 2013 with a $2.2 million investment from Chairman Gubin,
subject to regulatory approval.

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,

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
         Thomas A. Procelli
         Chief Operating Officer
         (954) 776-2332

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