Core Insights - OptimumBank Holdings, Inc. reported its strongest performance in nearly 25 years during its Annual Shareholder Meeting, aiming to surpass $1 billion in assets [1][2] - The bank's financial highlights for 2024 include total assets rising 18% to nearly $933 million, equity increasing 47% to $103 million, and net earnings reaching $13.1 million [7] Financial Performance - Return on equity (ROE) stands at 15.28%, with core ROE exceeding 23% [3] - Net interest margin hit a 10-year high of 3.83% [7] - Loans surpassed $800 million, driven by a six-fold increase in SBA production [7] Employee and Shareholder Engagement - A majority of OptimumBank employees are also shareholders, indicating strong internal alignment and motivation [4] - The bank's stock is currently trading below book value, with management expressing confidence that the market will recognize its high performance [5] Strategic Outlook - The bank is focused on anti-dilution strategies and plans to raise capital only above book value, with potential capital raises of $10 to $30 million in 2025 [5][8] - The bank is selective in its M&A approach, seeking partners that align with its culture and contribute long-term [8] Technology and Innovation - A new open-architecture, API-capable core banking platform is set to launch in October, promising a significantly improved customer experience [9] - The bank is also upgrading its website and rolling out new front-end features [9] Business Focus - OptimumBank specializes in traditional banking services, including business banking, business lending, SBA lending solutions, treasury management, and personal banking [11]
OptimumBank Celebrates Record Year and Bold Outlook at 2025 Annual Shareholder Meeting