OptimumBank Exceeds $712 Million in Assets, Focusing on Growth and Customer Relationships
OptimumBank, a Florida banking corporation and subsidiary of OptimumBank Holdings, Inc., has announced that it ended the third quarter of 2023 with assets exceeding $712 million. This significant growth is a result of the strategic plan implemented by the Board and Management, which aimed to enhance the size and profitability of OptimumBank while fostering strong customer relationships.
Over the past five years, OptimumBank has experienced remarkable growth, increasing its assets by $612 million. This growth has primarily been driven by loyal customers who have longstanding relationships with the bank, its directors, or employees. As of September 30, 2023, the bank’s assets have grown close to $127 million.
Maintaining a well-capitalized status and delivering exceptional customer service are key priorities for OptimumBank. The Board and Management are dedicated to outperforming industry peers in various banking metrics and ensuring consistent and stellar customer experiences. By focusing on growing the bank’s asset size throughout 2023 and into 2024, OptimumBank aims to provide greater shareholder returns.
OptimumBank’s Strategic Plan also includes expanding lending capabilities and increasing the bank’s core deposit base, primarily with fee-based income businesses. Additionally, the bank is evaluating opportunities for mergers and acquisitions as a buyer. By maintaining competitive pricing and improving the Net Interest Margin (NIM), OptimumBank aims to increase its Loan-to-Deposit ratio.
Despite its growth, OptimumBank remains committed to community banking, where customers are more than just numbers. The bank values personal relationships and strives to provide exceptional service to its customers.
OptimumBank Holdings, Inc. operates as the bank holding company for OptimumBank, offering a range of consumer and commercial banking services to individuals and businesses. The company provides various deposit accounts, loans, investment services, and online banking options. OptimumBank Holdings, Inc. was founded in 2000 and is headquartered in Fort Lauderdale, Florida.
As OptimumBank continues to grow and succeed, it remains focused on delivering value to its shareholders, improving its financial performance, and strengthening its position in the banking industry.