OptimumBank (the "Bank") Announces OptimumBank’s Entry into SMALL BUSINESS ADMINISTRATION (SBA) National Lending

Fort Lauderdale, FL, Feb. 22, 2023 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (OPHC-NASDAQ). OptimumBank is excited to announce its entry into providing government loans to small and middle market companies. President and Chief Executive Officer Tim Terry, has selected Chris Tomlinson to head the division as Vice President, SBA Director. Mr. Tomlinson started his career in 2005, as a financial business specialist and has served in various commercial banking positions. Chris is a seasoned corporate banking professional and has extensive experience with every type of government loan.

Chairman Gubin stated “We are in the process to becoming an SBA participating bank. The addition of Mr. Tomlinson to our lending team will inevitably contribute to the development of new business relationships for the Bank and towards our ultimate goal of growing the Bank. Expanding our strategic lending initiatives by funding loans under the 7(a) Loan Program will give us the ability to help more small businesses get access to capital that can be used for a wide range of business purposes. The Bank has a proven track record with loan growth and has excess liquidity to fund the production of $25,000,000 in SBA loans projected in the budget for 2023.”

About OptimumBank Holdings, Inc.

OptimumBank Holdings, Inc. operates as the bank holding company for OptimumBank that provides a range of consumer and commercial banking services to individuals and businesses. The company accepts demand interest-bearing and noninterest-bearing, savings, money market, NOW, and time deposit accounts, as well as certificates of deposit; and offers residential and commercial real estate, commercial, and consumer loans, as well as lending lines for working capital needs. It also provides debit and ATM cards; investment, cash management, and notary and night depository services; and direct deposits, money orders, cashier's checks, domestic collections, drive-in tellers, and banking by mail, as well as Internet banking services. In addition, the company engages in holding, managing, and disposing foreclosed real estate. It operates through banking offices located in Broward County, Florida. OptimumBank Holdings, Inc. was founded in 2000 and is based in Fort Lauderdale, Florida.

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