OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces Resignation of Board Member

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Fort Lauderdale, Fla., May 11, 2022 (GLOBE NEWSWIRE) — Heng Fai Ambrose Chan advised the Boards of Directors of OptimumBank (the “Bank”) and OptimumBank Holding, Inc. (the “Company”) that he would resign from both boards effective April 30, 2022. In his resignation letter, Mr. Chan, who resides in Singapore, said he was resigning with regret due to jet lag and workload.

Mr. Chan has been a director of the Bank and the Company since June 2018. During his tenure on the Boards of Directors, Mr. Chan has helped pave the way for the Bank and the Company to recover from the problems regulations inherited from the past, leaving the Bank with a solid capital structure. , explosive growth and a bright future. Over the past four years, the Bank’s balance sheet has grown considerably with a significant increase in its loan portfolio as well as deposits. In addition to his board roles, Mr. Chan has been a significant investor in the company. Mr. Chan noted that he had enjoyed his tenure on the Boards immensely and continued to “fully support the Bank and would be happy to assist in any way…in the future” . The Boards of Directors thank Mr. Chan for his loyalty and contribution over the past four years and wish him well in his future endeavours. President Moishe Gubin remarked that “Mr. Chan has been an integral part of the Boards for four years and we appreciate and have benefited from his involvement and insight.

About OptimumBank Holdings, Inc.
OptimumBank Holdings, Inc. operates as the bank holding company for OptimumBank, which provides a range of personal and business banking services. The company accepts interest-bearing and non-interest-bearing current accounts, savings, money market, NOW and term accounts, as well as certificates of deposit; and offers residential and commercial real estate, commercial and consumer loans, as well as loan lines for working capital needs. It also provides debit and ATM cards; investment, cash management, notary and night custody services; and direct deposits, money orders, cashiers checks, domestic collections, ATM and mail banking, and internet banking. In addition, the company is involved in the holding, management and disposal of seized 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.

Safe Harbor Statement:
This press release contains forward-looking statements which can be identified by words such as “believes”, “expects”, “potential”, “plans”, “suggests”, “may”, “should”, “could”. “, “intends”, or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from future results or are implied by such statements. These factors include, but are not limited to, our limited operating history, management of our anticipated growth, risks associated with integrating acquired websites, possible inadvertent infringement of intellectual property rights third parties, our ability to compete effectively, our acquisition strategy, and a limited public market for our common stock, among other risks. The future results of OptimumBank Holdings, Inc. may also may also be affected by other risk factors listed from time to time in its filings with the SEC. Many factors are difficult to accurately predict and are generally beyond the company’s control. Forward-looking statements speak only as of the date on which they are made, and OptimumBank Holdings, Inc. does not undertake to update any forward-looking statements to reflect circumstances or events that occur after the date on which the forward-looking statements are made.

Investor Relations:
Optimum Bank Holdings. Inc.
[email protected]
+1.954.900.2850

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