Business Context and Reporting Period
This Form 8-K Current Report from OptimumBank Holdings, Inc. covers events occurring on November 30, 2009, and December 3, 2009. The filing addresses significant changes in the Company's executive leadership and board composition.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes rather than financial performance.
Material Changes
- Executive Departure: On November 30, 2009, Albert J. Finch retired from all positions, including Chairman of the Board, Chief Executive Officer, and director of both OptimumBank Holdings, Inc. and its subsidiary, OptimumBank.
- Leadership Appointment: On December 3, 2009, Sam Borek, an existing director, was appointed as the new Chairman of the Board of Directors for both the Company and the Bank.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. The document is limited to reporting the departure of the CEO and the appointment of a new Chairman.
Key Facts for Investor Verification
- Confirm the effective date of Albert J. Finch's retirement (November 30, 2009).
- Verify the appointment of Sam Borek as Chairman of the Board (December 3, 2009).
- Check for subsequent filings regarding the appointment of a new Chief Executive Officer, as the filing only addresses the Chairman role.