OptimumBank Holdings, Inc. (OPHC-NASDAQ) strengthens its Board of Directors with the election of Mr. Steven Newman, at the August 23, 2022 Board Meeting.

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Fort Lauderdale, FL, Aug. 30, 2022 (GLOBE NEWSWIRE) — OptimumBank Holdings, Inc., the parent company of OptimumBank (www.OptimumBank.com), a Florida chartered bank that provides a range of consumer banking services and businesses individuals and businesses, is pleased to announce the election of Mr. Steven Newman as a member of its Board of Directors. Mr. Newman was elected to fill the vacancy on the board due to the earlier resignation of Director Heng Fai Ambrose Chan. Mr. Newman was also appointed as a director of OptimumBank.

Mr. Newman has been an active member of the South Florida business community since 1998, establishing and managing several companies. Mr. Newman is a prolific real estate investor and holds a Florida real estate broker’s license with The Newman Group, LLC, of ​​which he is the Managing Director. There, he and his dedicated team negotiated hundreds of millions of dollars worth of real estate. Mr. Newman is Co-Founder and Chairman of the Board of Freight Factoring Specialists, LLC, a full-service, middle-market factoring company serving the transportation industry. Mr. Newman received his bachelor’s degree in sociology from Queens College of the City University of New York in 1988. Mr. Newman has been an active community volunteer and board member of several charitable organizations and lives in Hollywood, Florida.

“Being able to tap into Mr. Newman’s business acumen will add additional strength to our successful leadership and management team,” said Moishe Gubin, Chairman of the Board of OptimumBank. Mr. Newman, a current client and new investor, will inevitably contribute to our success with the development of new business relationships for the Bank given his extensive network of business associates and personal relationships.

Chairman Gubin said, “OptimumBank has strong leadership with diverse talent and an accomplished management team committed to growing the bank and ultimately shareholder value. The results of our collective efforts are materializing this year, as OptimumBank is now one of the leading commercial bank lenders among banks with assets between $300 million and $1 billion. The bank operates very efficiently with a management of seven members, two executives and two senior managers.

About OptimumBank Holdings, Inc.

OptimumBank Holdings, Inc. operates as a bank holding company for OptimumBank which provides a range of personal and corporate banking services. The Company accepts interest-bearing and interest-free, savings, money market, NOW and term deposit accounts, as well as certificates of deposit; and offers residential and commercial real estate, commercial and consumer loans, as well as loan lines for working capital needs. It also provides debit and ATM cards; investment, cash management, notary and night custody services; and direct deposits, money orders, cashiers checks, domestic collections, ATM and mail banking, and internet banking. In addition, the company is involved in the holding, management and disposal of seized real estate. It operates through banking offices located in Broward County, Florida. OptimumBank Holdings, Inc. was founded in 2000 and is based in Fort Lauderdale, Florida.

Safe Harbor Statement

This press release contains forward-looking statements which can be identified by words such as “believes”, “expects”, “potential”, “plans”, “suggests”, “may”, “should”, “could”. “, “intends to”, or similar expressions. These forward-looking statements are subject to various risks, uncertainties and assumptions, including (without limitation) those relating to operations, financial results, financial condition , business prospects, growth strategy and liquidity of the Company, including as influenced by external circumstances outside the Company’s direct control.If one or more of these risks or uncertainties or others materialize, or if the Company’s underlying assumptions prove incorrect, the Company’s actual results could differ materially from those indicated in such statements.These factors should not be construed as exhaustive s. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Information about some of these factors can be found in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q or current reports on Form 8-K , which are available at the SEC’s website (www.sec.gov). Forward-looking statements speak only as of the date on which they are made, and OptimumBank Holdings, Inc. does not undertake to update any forward-looking statements to reflect circumstances or events that occur after the date on which the forward-looking statements are made.

Investor Relations:
Optimum Bank Holdings. Inc.
[email protected]
+1.954.900.2850

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