OptimumBank (the "Bank") Announces OptimumBank’s Entry into SMALL BUSINESS ADMINISTRATION (SBA) National Lending
February 22 2023 - 9:00AM
OptimumBank Holdings, Inc. (OPHC-NASDAQ). OptimumBank is
excited to announce its entry into providing government loans to
small and middle market companies. President and Chief Executive
Officer Tim Terry, has selected Chris Tomlinson to head the
division as Vice President, SBA Director. Mr. Tomlinson started his
career in 2005, as a financial business specialist and has served
in various commercial banking positions. Chris is a seasoned
corporate banking professional and has extensive experience with
every type of government loan.
Chairman Gubin stated “We are in the process to
becoming an SBA participating bank. The addition of
Mr. Tomlinson to our lending team will inevitably
contribute to the development of new business
relationships for the Bank and towards our ultimate goal of growing
the Bank. Expanding our strategic lending initiatives by
funding loans under the 7(a) Loan Program will give us the ability
to help more small businesses get access to capital that can be
used for a wide range of business purposes. The Bank has a proven
track record with loan growth and has excess liquidity to fund the
production of $25,000,000 in SBA loans projected in the budget for
2023.”
About OptimumBank Holdings, Inc.
OptimumBank Holdings, Inc. operates as the
bank holding company for OptimumBank that provides a
range of consumer and commercial banking services to individuals
and businesses. The company accepts demand interest-bearing and
noninterest-bearing, savings, money market, NOW, and time deposit
accounts, as well as certificates of deposit; and offers
residential and commercial real estate, commercial, and consumer
loans, as well as lending lines for working capital needs. It also
provides debit and ATM cards; investment, cash management, and
notary and night depository services; and direct deposits, money
orders, cashier's checks, domestic collections, drive-in tellers,
and banking by mail, as well as Internet banking services. In
addition, the company engages in holding, managing, and disposing
foreclosed 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.
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forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from any future results or implied by such
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limited operating history, managing our expected growth, risks
associated with integration of acquired websites, possible
inadvertent infringement of third-party intellectual property
rights, our ability to effectively compete, our acquisition
strategy, and a limited public market for our common stock, among
other risks. OptimumBank Holdings, Inc.'s future results
may also be impacted by other risk factors listed from time-to-time
in its SEC filings. Many factors are difficult to predict
accurately and are generally beyond the company's control. Forward
looking statements speak only as to the date they are made
and OptimumBank Holdings, Inc. does not undertake to
update forward-looking statements to reflect circumstances or
events that occur after the date the forward-looking statements are
made.
Investor Relations:OptimumBank Holdings.
Inc.investor@optimumbank.com +1.954.900.2850
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