OptimumBank Holdings, Inc. Announces Third Quarter

FORT LAUDERDALE, Fla., Oct. 30, 2013 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (Nasdaq: OPHC ), the parent company of OptimumBank ("Company"), announced today a net loss for the third quarter ending September 30, 2013 of approximately $(325,000), or $(.05) per basic share, as compared to a net loss for the same period last year of approximately $(1.0) million, or $(.14) per basic share adjusted for the reverse stock split that occurred on June 3, 2013.

The third quarter loss of $325,000 is a significant change from the $2.3 million second quarter loss and represents the best quarterly performance since 2011. Chairman Moishe Gubin said, "This progress is the direct result of introducing greater operational efficiencies through increased use of technology and the restructuring of long term FHLB advances."

Chairman Gubin noted that key performance metrics continue to strengthen with the net interest margin increasing from 2.05% in September 2012 to 3.18% in September 2013, the bank's liquidity ratio stands at 20% of deposits and several credit facilities having been established with other financial institutions. As of the end of the quarter, the loan origination pipeline was $8.8 million. Chairman Gubin also said, "The pronounced improvement in core earnings is accelerating, with several initiatives pending that will build on this momentum. The Board, along with Executive and Senior Management are systematically unlocking value in the balance sheet, infrastructure and customer base."

The Company's capital ratios are below its regulatory capital requirements at September 30, 2013, with a tier one leverage capital ratio of 5.87% and a total risk-based capital ratio of 8.62%. OptimumBank Holdings, Inc. plans to raise additional capital during 2013 through a $2.7 million investment from key investors, including Moishe 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.

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.

Moishe Gubin Chairman of the Board or Thomas A. Procelli Chief Operating Officer (954) 900-2800