OptimumBank Holdings Inc. (OPHC) closed the weekend session at a rise of 9.91% to $3.66. OptimumBank provides businesses and individuals with various retail and commercial banking facilities and OPHC serves as a bank holding company for it.
OPHC reported earlier a $345,000 third-quarter net gain from the Bank, which excludes a $523,000 loss provision cost allowance. Net interest income for the nine-month period ended September 30, 2020, rose from $2,450,000 in the corresponding quarter last year to $3,631,000, reflecting a 48 percent gain. This effect can be achieved while remaining well-capitalized by regular capital investments.
Notably, the net effects of income are not exclusively the product of advances and cash infusions but are often the result of substantial shifts in the mix of savings and other borrowings. Fee revenue from wire and ACH payments has risen significantly. Such income amounted to $64,000 for the nine-month period ended September 30, 2019, which remains $192,000 for the nine-month period ended September 30, 2020. The annualized fee income now has a major stabilizing influence from only a few years earlier.
At the time, Chairman Moishe Gubin mentioned that the Leadership and supervisory board took the business development exercise seriously and continued changes in operations and performance. Traditional community financing largely depends on income from net interest. OptimumBank has concentrated aggressively on new best practices of non-balance sheet fee income while keeping a close analysis of its challenges.
OptimumBank Holdings Inc. (OPHC) has an exceptionally large and diverse Board of Directors, as has been known for some time. One advantage comes in the planning phase of the project, while another is the creation of strategic measures to drive defined objectives. These priorities include the effectiveness of the branch, additional payment facilities, and the purchase of banks or non-banks to add market segments and strategic penetration.