Business Context and Reporting Period
This Form 8-K Current Report was filed by OptimumBank Holdings, Inc. on October 31, 2016, covering events that occurred on October 26, 2016. The filing addresses changes to the Company's Board of Directors.
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 and does not contain financial performance data.
Material Changes
- Appointment of Director: On October 26, 2016, the Company appointed John H. Clifford as a director. Mr. Clifford is a retired banker with prior experience as President and CEO of Coastal Federal Credit Union and associations with The Community Bank and Bank of Fall River.
- Resignation of Director: Norman Ginsparg resigned from the Board of Directors of the Bank for personal reasons.
Guidance, Outlook, and Risks
The filing does not contain management commentary on financial guidance, future outlook, specific risks, contingencies, or unusual items. The primary purpose of the report is to disclose the personnel changes noted above.
Key Facts for Investor Verification
- Verify the effective date of John H. Clifford's appointment to the Board.
- Confirm the status of Norman Ginsparg's resignation and any potential impact on board quorum.
- Review the attached Press Release (Exhibit 99.1) for additional details on the new director's qualifications.