OptimumBank Q1 net earnings double to $2.38M; loan portfolio up 50% YoY

OptimumBank Holdings, Inc.

2024-Q1 EPS reported $0.31

Net earnings of $2.377M vs $1.153M in Q1 2023, a 106% increase.
Total assets $940M; loans net of allowance $746M; deposits $798M.
Loan portfolio grew 50.4% YoY to $755.9M from $502.5M.
Noninterest income rose 70% to $1.2M; capital ratio 10.20% (well capitalized).
Closed private placement of 2.31M common shares; launched SBA 7A lending.

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