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Stock impact report

OptimumBank Holdings, Inc. Financial Performance for the Third Quarter of 2024 [Yahoo! Finance]

OptimumBank Holdings, Inc. (OPHC) 
Company Research Source: Yahoo! Finance
reported robust financial performance for the third quarter of 2024. For the three months ended September 30, 2024, the Company achieved net income of $3.3 million, or $0.34 per basic share and $0.32 per diluted share, compared to net income of $1.2 million, or $0.18 per basic and diluted share, for the same period in 2023. This reflects significant growth in both earnings and profitability year-over-year. Key Financial Highlights: Net interest income for the third quarter of 2024 reached $8.962 million, a significant increase of 51.5% from $5.914 million in the third quarter of 2023, primarily driven by a 44.9% rise in average interest-earning assets. Net interest margin increased to 3.96%, up from 3.79% in the third quarter of 2023, reflecting growth in average interest-earning assets and the impact of higher costs on interest-bearing deposits. Noninterest income increased to $1.115 million for the third quarter of 2024, a 22.4% increase from $911,000 for the same period in Show less Read more
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