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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 -
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 -
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
Shareholders of OptimumBank Holdings (OPHC) have approved a reverse stock split aimed at preserving the Fort Lauderdale, Fla., company's Nasdaq listing.
The 1-for-4 reverse split will take effect May 31, OptimumBank said Friday. Nasdaq warned the $144 million-asset company last year that it was in danger of being delisted because its share price had fallen below $1. Its stock closed Friday at 42 cents a share.
OptimumBank's shareholders also approved a $2.2 million stock sale to Chairman Moishe Gubin, the company said Friday. Gubin is paying 30 cents a share and will end up with a 25.6% stake in OptimumBank, it had said in a
The sale is intended to raise OptimumBank's capital levels, it said. Its Tier 1 leverage ratio stood at 7.10%, and its total risk-based capital ratio at 9.93% as of March 31, according to the Federal Deposit Insurance Corp.
OptimumBank
