FORT LAUDERDALE, Fla., July 30, 2012 (GLOBE NEWSWIRE) -- OptimumBank
Holdings, Inc. (Nasdaq:OPHC), the parent company of OptimumBank,
announced today a net loss for the second quarter ended June 30, 2012
of approximately $(0.8) million, or $(.03) per basic share, as compared
to a net loss for the same period last year of approximately $(2.0)
million, or $(2.40) per basic share. The 2012 second quarter loss
increased from the previous quarter's loss of $(0.6) million primarily
due to a $154,000 provision for loan losses recorded in the June 2012
quarter as compared to a $27,000 provision recorded in the March 2012
quarter. Chairman Moishe Gubin said, "We are still experiencing some
weakness in real estate valuations, but overall we believe the real
estate market in Florida has stabilized and local values are rising."

The net loss for the six months ended June 30, 2012 was approximately
$(1.4) million, or $(.05) per basic share, as compared to a net loss
for the same period last year of approximately $(3.1) million, or
$(3.82) per basic share. The $1.7 million reduction in losses for the
comparative six month periods was primarily due to a significant
reduction in the provision for loan losses in 2012 as compared to 2011.
The year to date provision for loan loss was $181,000 during the six
months ended June 2012 compared to an $894,000 provision for the same
period in 2011. Chairman Gubin said, "Operating losses appear to be
stabilizing as we continue to focus our efforts on cost containment and
income generation."

The Company improved its credit quality during the June 2012 quarter
with non-performing assets declining during the quarter by
approximately 12% or $4.2 million to a total of $30.8 million. Chairman
Gubin commented, "Returning to profitability depends on reducing
non-performing assets and originating new loans. We are focused on both
strategies with our emphasis on lending to small and medium sized
businesses." Lending volumes rose during the June 2012 quarter with
$4.4 million in loan originations.

The Company's capital ratios exceeded its regulatory capital
requirements at June 30, 2012, with a tier one leverage capital ratio
of 8.63% and a total risk-based capital ratio of was 13.18%. The
Company expects to raise additional capital during the September 2012
quarter with an additional $2.7 million investment from Chairman Gubin,
subject to regulatory approval, and approximately $2.0 million from
other investors. Chairman Gubin said, "I believe the Company has a
great future and I am here to support it."

The Company recently upgraded its internet business banking systems and
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.

The OptimumBank Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3232

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.


CONTACT: Moishe Gubin, Chairman of the Board
         or Richard L. Browdy, President at (954) 776-2332