OptimumBank – poised for the future - A local community bank open for business
July 30 2019 - 12:00PM
For many years, OptimumBank and OptimumBank Holdings Company (OPHC)
had been facing regulatory issues resulting from historic problems
associated with The Great Recession of 2007 and the Housing Market
Crash. These issues needed more than temporary fiscal bandages.
Federal regulators issued capital directives aimed at
underperforming community banks and many other small banks. By
2015, many such local banks had vanished due to failure or to
consolidation in the industry.
Over time, OptimumBank has restructured its
management team and Board of Directors composition with the intent
to create a strategic business plan. These efforts were not just to
satisfy the Federal regulators but to initiate a long-term plan to
increase the Bank’s financial size and revamp itself into a strong,
vibrant, customer centric institution focused on stability and
long-term growth.
Currently free from enforcement orders, we are
embarking on a tremendous concerted effort to create a noteworthy,
formidable local banking establishment. OptimumBank is now
considered a healthy bank institution. Based on a solid footing and
tested to withstand one of the most severe potential financial
crises ever to hit our industry, management and the Board of
Directors have reset the foundation of the bank for future growth
and profitability. The plan encompasses a variety of new business
development activities and a renewed focus on the following
strategic initiatives:
- Attract local deposits and reduce reliance on alternative
funding sources
- Increase loan portfolio by approximately 30% per year
- Revisit branch strategy and structure
- Explore non-interest income opportunities
- Expand online banking capabilities
We are proud of the efforts of all involved, the
ensuing results and are poised to establish ourselves as a premiere
South Florida banking entity.
Any inquiries and
comments are welcome and can be directed to:
Investor
RelationsOptimumBank Holdings. Incinvestor@OptimumBank.com
Thank you,The Board of DirectorsOptimumBank
Holding CorporationOptimumBank Corp
David L. Edgar, CPASenior Vice President and
Controller2477 East Commercial BoulevardFort Lauderdale, FL
33308Direct (954)
900-2840dledgar@optimumbank.com
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