Business Context and Reporting Period
This Form 8-K Current Report is filed by OptimumBank Holdings, Inc. (NYSE American: OPHC), a Florida corporation, for the reporting period of May 1, 2026. The filing primarily addresses significant changes in the company's executive leadership structure.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance data.
Material Changes
The filing details the following material changes to the company's leadership effective May 1, 2026:
- Departure: Timothy Terry retired as the Company's Principal Executive Officer and as President and Chief Executive Officer of its subsidiary, OptimumBank.
- Appointment of CEO: Moishe Gubin, the Company's Chairman of the Board, was appointed as the new Chief Executive Officer and Principal Executive Officer of both the Company and OptimumBank.
- Appointment of President: Braden R. Smith was appointed as President of OptimumBank. Mr. Smith previously served as Chief Business Development Officer of Amerant Bank (Nov 2024–Apr 2026) and Executive Vice President of Wintrust Financial Corporation (Sep 2009–Nov 2024).
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of the leadership transition. Mr. Terry is expected to assist with the transition of leadership. The filing does not contain specific forward-looking guidance, risk factors, or discussion of contingencies beyond the standard legal disclaimers regarding the exhibits.
Investor Verification Checklist
- Verify the effective date of the leadership transition (May 1, 2026).
- Confirm the new reporting structure with Moishe Gubin as CEO and Braden R. Smith as President.
- Review subsequent filings for any impact of this leadership change on strategic direction or financial performance.
- Note that this 8-K does not contain updated financial statements; refer to the most recent 10-K or 10-Q for financial data.