OptimumBank Holdings, Inc. (NYSE American: OPHC) shares sank Friday. The company announced net income of $4.7 million, or $0.39 per basic share, and $0.20 per diluted share, for the first quarter of 2026. This compares to net income of $4.9 million, or $0.42 per basic share, and $0.21 per diluted share, for the fourth quarter of 2025, and $3.9 million net income, or $0.33 per basic share, and $0.17 per diluted share, for the comparable quarter last year.
The increase of $0.8 million in net income for the first quarter of 2026, compared to the same period in 2025, was primarily driven by a $3.8 million improvement in net interest income and $0.6 million increase in noninterest income, partially offset by a $2.4 million increase in noninterest expenses and $0.9 million increase in credit loss expense and the corresponding increase in income tax expense.
The Company has demonstrated sustained growth throughout the first quarter of 2026. The gross loan portfolio increased by $132.1 million, or 13.8%, during the first quarter of 2026 to $1.09 billion.
Total deposits increased by $161.1 million from December 31, 2025, totaling $1.09 billion at March 31, 2026, or 17.3% from the prior quarter. This also represents growth of $239.9 million in total deposits since March 31, 2025, or an increase of 28.1%.
OPHC shares retreated 12 cents, or 2.2%, to $5.35.
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