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- Related-Party Financing Arrangement (new) — A board member provides $14M in financing to the lending subsidiary with Company guarantees, creating concentration risk and potential conflicts of interest.
OptimumBank Q2 2026: Net income +84.8% to $6.7M on balance-sheet expansion and margin gains
Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read
Key Changes
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Total assets grew $289M in H1 2026 to $1.4B (vs. $66M growth in H1 2025), funded by $282M deposit growth to $1.21B. The Company repaid FHLB advances while expanding FHLB borrowing capacity to $355M and Federal Reserve credit lines to $59M.
MD&A: Balance Sheet Growth verify on EDGAR → -
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The Company exchanged all Series B and Series C preferred stock (held by related parties) for 11.5M shares of a new nonvoting common stock class in Q2 2026, simplifying the capital structure but concentrating a large nonvoting equity stake with insiders.
Notes: Capital Structure view on EDGAR → -
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A board member now provides $14M in financing to the Company's lending subsidiary under a related-party arrangement with Company guarantees. Management states terms are comparable to third-party financing, but the arrangement introduces concentration and conflict-of-interest risk.
Notes: Related-Party Transactions view on EDGAR →
1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 18, 2026 · How we verify