OPHC - float = 1.1 Million. AH news! ... look for OPHC to fly Friday. 9/20
OptimumBank Holdings, Inc. (www.OptimumBank.com) (the "Company"), the parent company of OptimumBank, a bank that provides a wide range of consumer and commercial banking services to individuals and businesses, is pleased to announce the Federal Reserve Board ("FRB") terminated the Written Agreement with the Company.
The Written Agreement dated October 22, 2010 prohibited the Company, without prior approval of the FRB, from paying cash dividends, taking dividends or payments from OptimumBank, making interest, principal or other distributions on account of the Junior Subordinated Debenture, incurring, increasing or guaranteeing any debt, purchasing or redeeming any shares of stock or appointing any new director or senior executive officer.
"It's a great day for OptimumBank. We feel this action is validation that management is running a fine well capitalized institution. The termination of the Written Agreement provides the Company the flexibility to look at other avenues of business generation to provide increased shareholder value" noted Moishe Gubin, Chairman of OptimumBank
