OptimumBank Smashes Records: $933M Asset Bank Sets Sights on Billion-Dollar Milestone

OptimumBank Holdings (NYSE American: OPHC) just wrapped up its annual shareholder meeting with numbers that’ll make any financial institution take notice. The Florida-based bank delivered its strongest showing in nearly 25 years, and the leadership team isn’t mincing words about what’s coming next.

The Numbers That Matter

Let’s cut straight to it: OptimumBank crushed 2024. Assets jumped 18% to land at nearly $933 million, while equity surged an impressive 47% to reach $103 million. Net earnings hit $13.1 million, and here’s where it gets interesting—core return on average equity topped 23%, with net interest margin reaching a decade-high of 3.83%.

The loan portfolio crossed the $800 million threshold, powered by a remarkable six-fold spike in SBA loan originations. Chairman Moishe Gubin summed it up bluntly: “We’re not just knocking on the door of a billion-dollar balance sheet—we’re charging through it.” With a 15.28% ROE and core ROAE exceeding 23%, the bank’s operational efficiency is turning heads. According to Gubin, “If we stopped growing today, we could operate as an ATM machine. But we’re building a compounding engine here.”

Why Employee Ownership Matters More Than You’d Think

One detail that caught observers off-guard: the majority of OptimumBank employees still own company stock. In an era where employee stock ownership often fades as companies mature, this level of internal conviction signals something different. Gubin was candid: “That kind of belief in what we’re doing is powerful. It shows we’re all aligned.”

The bank is also trading below book value—a position Gubin thinks won’t hold. “For a high-performing bank, we believe the market will eventually catch up,” he noted, suggesting OptimumBank stock could be undervalued relative to peers.

Capital Strategy: Disciplined but Ambitious

The shareholder Q&A session revealed important guardrails on dilution. Gubin stated the board takes a “anti-dilutionary” stance, with authority granted to raise capital only above book value. While potential raises of $10-30 million are possible in 2025, they’ll be “strategic and accretive”—meaning they should strengthen rather than weaken existing shareholders.

On dividends, leadership was clear: capital deployed inside the bank beats capital distributed. The focus remains on growing into the top 200 publicly traded banks, not maximizing near-term payouts. On M&A, Gubin explained the bank’s selective approach: “We’ve looked at deals, but we want partners that share our culture and contribute long-term, not overpayers chasing growth at any cost.”

The Tech Overhaul Coming This Year

CEO Tim Terry highlighted a major upgrade rolling out in October: migration to a new open-architecture, API-capable core banking platform. Terry was emphatic about the implications: “It’s going to be a completely different customer experience. Business treasury services, retail onboarding—everything will be paperless and intuitive.”

This modernization positions OptimumBank to compete on the digital experience front while maintaining its traditional in-person banking strength in South Florida.

Final Thought: Even Crypto Wasn’t Off the Table

In a lighthearted moment, one shareholder suggested allocating 1-5% of equity to Bitcoin. Gubin’s response? “We’re businessmen. If there’s business to be had, we’d consider it.” No commitment, but also no dismissal—a pragmatic stance that reflects how even traditional financial institutions are reconsidering their stance on digital assets.

OptimumBank, founded in 2000 and headquartered in Fort Lauderdale, has positioned itself as a trust-based alternative to megabanks, with deep expertise in real estate and commercial lending. The trajectory toward $1 billion in assets isn’t speculation—it’s backed by execution, employee alignment, and a modernized platform built for the next decade.