THE WALL STREET CLUB

[mick]

Oct 26, 2009 14:41 OptimumBank Holdings Announces Third Quarter and Nine-Month Loss
OptimumBank Holdings, Inc. (Nasdaq:OPHC), holding company for OptimumBank reported a net loss for the third quarter ended September 30, 2009 of $941,497 or $.29 per basic share compared to net income of $201,499 or $.06 per basic share for the prior year quarter ended September 30, 2008. Chairman of the Board, Albert Finch said, "The net loss for the third quarter ended September 30, 2009 was primarily a result of booking an after tax provision for loan losses of $1.2 million related to credit and collateral weaknesses in specific portfolio loans. He further explained, "The Company must be proactive in recognizing the effect of adverse market conditions on our loan portfolio in these unprecedented economic times." continued...