0001193125-13-053609.txt : 20130213 0001193125-13-053609.hdr.sgml : 20130213 20130213085659 ACCESSION NUMBER: 0001193125-13-053609 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130212 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130213 DATE AS OF CHANGE: 20130213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OptimumBank Holdings, Inc. CENTRAL INDEX KEY: 0001288855 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 000000000 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50755 FILM NUMBER: 13599791 BUSINESS ADDRESS: STREET 1: 2477 EAST COMMERCIAL BOULEVARD CITY: FORT LAUDERDALE STATE: FL ZIP: 33308 BUSINESS PHONE: 954 776-2332 MAIL ADDRESS: STREET 1: 2477 EAST COMMERCIAL BOULEVARD CITY: FORT LAUDERDALE STATE: FL ZIP: 33308 8-K 1 d486084d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 13, 2013 (February 12, 2013)

 

 

OPTIMUMBANK HOLDINGS, INC.

(Exact name of registrant as specified in charter)

 

 

 

Florida   000-50755   55-0865043

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

2477 East Commercial Boulevard, Fort Lauderdale, FL 33308

(Address of Principal Executive Offices) (Zip Code)

954-776-2332

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

  (b) Director Resignations

Effective February 12, 2013, Richard L. Browdy has resigned as President, Interim Chief Executive Officer and Chief Financial Officer of the Company and as a member of the OptimumBank and OPHC Board of Directors to pursue other career opportunities.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
Number

  

Description

99.1    Press Release


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    By:  

/s/ Thomas A Procelli

      Thomas A Procelli
February 13, 2013      

Chief Operating Officer

EX-99.1 2 d486084dex991.htm PRESS RELEASE Press Release

LOGO

 

FOR IMMEDIATE RELEASE   February 12, 2013

For more information contact: Moishe Gubin, Chairman of the Board or

Thomas A. Procelli, Chief Operating Officer at (954) 776-2332

OPTIMUMBANK ANNOUNCES DEPARTURE OF RICHARD L. BROWDY AND THE

APPOINTMENT OF TIMOTHY L. TERRY AS CHIEF EXECUTIVE OFFICER

Fort Lauderdale, FL (February 12, 2013) – OptimumBank Holdings, Inc. (NASDAQ: OPHC), the parent company of OptimumBank (“Company”), announced today that Richard L. Browdy has resigned as President, Interim Chief Executive Officer and Chief Financial Officer of the Company and as a member of the OptimumBank and OPHC Board of Directors to pursue other career opportunities.

“Mr. Browdy served as President and Chief Financial Officer of the Bank since its inception in 2000 and was instrumental in organizing the Bank. We thank Richard for his past leadership and commitment to OptimumBank and we wish him success in his future endeavors” said Moishe Gubin, OPHC Chairman.

Contemporaneously with the announcement of Richard L. Browdy’s departure, the Company also announced the appointment of Timothy L. Terry as Chief Executive Officer, effective today. Mr. Terry brings a wealth of experience and savvy to the role. “His knowledge of the banking and business landscape of the State of Florida is impressive and of great value to the Company. We are confident Mr. Terry will propel OptimumBank forward in the immediate future” said Moishe Gubin, Chairman of the Board.

Prior to joining the Company, Mr. Terry served as Interim President and CEO of Putnam State Bank in Palatka, Florida, from 2011 to 2012. From 2005-2011, Mr. Terry was President and CEO of Enterprise Bank of Florida, after initially serving as Executive Vice President, Senior Loan Officer, Branch Administrator and Sales Manager from 2002. From 1999-2002, Mr. Terry served as Executive Vice President and Senior Loan Officer of Palm Beach National Bank and Trust, after joining the company in 1993. From 1985-1993, Mr. Terry was Vice President of Flagler National Bank, West Palm Beach, Florida. Prior to that, he was Assistant Vice President of SNB Bank and Trust in Battle Creek, Michigan.

“We are proud to have Timothy Terry associated with this Company and we have every confidence in him and the future of this Company” said Mr. Gubin.

The Company offers a wide array of lending and retail banking products to individuals and businesses in Broward, Miami-Dade and Palm Beach Counties through its executive offices and three branch offices in Broward County, Florida.

 

2477 East Commercial Boulevard, Fort Lauderdale, Florida 33308
Phone: (954) 776-2332   Toll-Free (888) 991-BANK   Fax: (954) 776-2281


This press release includes forward-looking statements and OptimumBank Holdings, Inc. intends for such statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements describe OptimumBank Holdings, Inc.’s expectations regarding future events. Future events are difficult to predict and are subject to risk and uncertainty which could cause actual results to differ materially and adversely. OptimumBank Holdings, Inc. undertakes no obligation to revise or amend any forward-looking statements to reflect subsequent events or circumstances.

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