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A small Florida bank whose shares are so thinly traded that they are in danger of being delisted is suddenly one of the hottest stocks on the Nasdaq — and its president has no idea why.
March 29 -
The $143.8 million-asset company said Monday it had named Jeffry Wagner to the post. Wagner, who had been CFO at Florida Business Bank in Melbourne, succeeded Richard Browdy, who resigned in February to pursue other career opportunities.
March 11 -
OptimumBank Holdings in Ft. Lauderdale, Fla., has hired a veteran banker as its chief executive. The $150 million-asset company said Tuesday that it had hired Timothy Terry.
February 12
OptimumBank Holdings (OPHC) in Fort Lauderdale, Fla., is optimistic that raising roughly $850,000 will help it remain on the Nasdaq.
OptimumBank sold 41,000 shares in the second quarter for an aggregate value of $51,000. On July 1, the company sold another 714,286 shares for $800,000.
The $132 million-asset bank is forecasting that the transactions, along with starting capital of $449,000 and a projected $1.4 million net income for the quarter that ended June 30, will exceed the $2.5 million minimum threshold required to maintain its stock listing.
The bank twice faced a possible delisting in the last year.
In May, OptimumBank
OptimumBank's shares were trading at $1.30 Wednesday afternoon. The bank earned $330,000 in the first quarter.
"We'll continue to raise capital and do what we need to do to survive and thrive," Thomas Procelli, the bank's chief operating officer, said in an interview.
