American Pacific Bancorp, Inc. acquired additional 6.8% stake in OptimumBank Holdings, Inc. for $1.2 million.
July 26, 2021
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American Pacific Bancorp, Inc. acquired additional 6.8% stake in OptimumBank Holdings, Inc. (NasdaqCM:OPHC) for $1.2 million on July 23, 2021. American Pacific Bancorp, Inc. purchased 0.3 million shares of the common stock of OptimumBank Holdings, Inc. in a two-part transaction. First, American Pacific Bancorp., Inc. purchased 847.13 Capital Securities issued by Optimum Bank Holdings Capital Trust I, a statutory trust (the “Trust Preferred Securities”) for $1.2 million. Optimumbank Holdings, Inc. is the sponsor of the Optimum Bank Holdings Capital Trust I. American Pacific Bancorp., Inc. then exchanged these 847.13 Trust preferred securities for 0.3 million shares of the common stock of OptimumBank Holdings, Inc. Accordingly, the consideration paid for these 0.3 million shares of the common stock of OptimumBank Holdings, Inc. was equal to $4.25 per share. American Pacific Bancorp now owns approximately 9% stake in OptimumBank.
American Pacific Bancorp, Inc. completed the acquisition of additional 6.8% stake in OptimumBank Holdings, Inc. (NasdaqCM:OPHC) on July 23, 2021.
OptimumBank Holdings, Inc. is a bank holding company for OptimumBank (the Bank). The Bank is a state-chartered bank, which offers a variety of community banking services to individual and corporate customers through its two banking offices located in Broward County, Florida. The Bank provides a range of consumer and commercial banking services to individuals and businesses. The Bankâs services offered includes demand interest-bearing and noninterest-bearing accounts, money market deposit accounts, negotiable order of withdrawal (NOW) accounts, time deposits, Visa debit and automated teller machine (ATM) cards, cash management, direct deposits, notary services, money orders, night depository, cashierâs checks, domestic collections, and banking by mail. It provides ATM cards and Visa debit cards, as a part of the Star, Presto and Cirrus networks, thereby permitting customers to utilize the convenience of ATMs worldwide. The Bank offers business lending lines for working capital needs.
OPTIMUMBANK HOLDINGS, INC. 
