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OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Lending to the Senior Healthcare industry

Fort Lauderdale, FL, April 11, 2022 (GLOBE NEWSWIRE) -- OptimumBank (OPHC) (the “Bank”) ended the year 2021 with total loans of $251,399,000 as compared with $154,919,000 from the year 2020 and $104,189,000 from the year ended 2019. The composition of the Bank’s loan portfolio during this period of time included Residential real estate, Multi-family real estate , Commercial real estate, Land and construction, Commercial and Consumer.

In addition to starting the year on a positive trend, Chairman Moishe Gubin is also pleased to announce the closing of the Bank’s first healthcare facility loan in January 2022, as was strategically planned in 2021 to address current and future financing needs of the Senior Healthcare Industry. Gubin states “I am especially pleased with the progress that OptimumBank (OPHC) is making in supporting long-term care operators need for financing. Currently we have ten or so Skilled Nursing Facilities actively seeking financing from us which is now collectively amounting to a prospective accounts receivable financing portfolio in the range of thirty to forty million dollars.

Michael Johnson, lending officer at OptimumBank (OPHC), focusses his efforts on new business relationships with healthcare providers and promotes accounts receivable financing options affording nursing homes access to asset-based credit lines. Billings to Medicare and other third-party payors are used to subsidize costs that require immediate attention to continue resident care. Mr. Johnson commented “nursing homes often experienced long delays between billing the government and receiving payments and long delays can create cash flow gaps that hinder the facilities ability to pay utilities, vendors and salaries. Accounts receivable financing facilitates nursing homes in providing both quality and dependable care services to their residents.

CEO Tim Terry commented, “the warm reception our Bank has received from the Skilled Nursing Community attendees we spoke with at the eCap Healthcare Summit 22 in Miami and the National Investors Conference (NIC) Spring Conference in Dallas, has proven to be very promising for OptimumBank (OPHC) and has led to many new business relationships and loan funding opportunities. With the assistance of Chairman Moishe Gubin and Directors Michael Blisko and Avi Zwelling, our strategic entry into servicing the financing needs of the Senior Healthcare Industry has become a reality.’’

‍About OptimumBank Holdings, Inc.

OptimumBank Holdings, Inc. (OPHC) operates as the bank holding company for OptimumBank (OPHC) 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. (OPHC) was founded in 2000 and is based in Fort Lauderdale, Florida.

Safe Harbor Statement:

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many 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 statements. These factors include, but are not limited to, our 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 (OPHC) 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. (OPHC) does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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OptimumBank Holdings. Inc. (OPHC)


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Source: Optimum Bank Holdings, Inc.

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