Author: Ravi Shankar

IntentKey’s Privacy-By-Design Value Proposition Resonates as Sales Pipeline Builds

Legacy Search Revenue Stabilizes

Management to host conference call at 4:15 PM ET, Thursday, November 12, 2026

LITTLE ROCK, Ark., Nov. 12, 2026 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a provider of artificial intelligence-driven solutions for modeling media audiences, today announced financial results for the third quarter and nine months ended September 30, 2026, and provided a business update.

Recent Business Highlights

• Audience Modeling Revenue Down While Pipeline Builds: Third quarter Audience Modeling revenue was 24% lower year-over-year while our sales pipeline expanded across automotive, travel, healthcare and financial verticals, reflecting the dynamics of our strategic pivot.
• Legacy Search Stabilization: Strategic moves to rationalize Legacy Search results in stabilized revenue streams as Legacy Search covers its direct operating costs.
• Expanded Workflow Integration: Completed IntentKey MCP integration with Anthropic’s Claude, enabling seamless AI and agentic workflow integration for marketers.
• White-Label Partner Program Launched: Opened a new route to market by expanding IntentKey to include partner program that enables agency partners to offer IntentKey under their own brand.
• Uninterrupted Service Through Apple iOS Updates: IntentKey continued to perform for clients on Safari as Apple’s latest iOS update continues to choke identity-based ad delivery, significantly impacting competing adtechs.
• Enhanced IntentKey Dynamic Targeting: Launched privacy-first neighborhood targeting that identifies where interest is rising and updates hourly, enabling IntentKey to reach CTV audiences without user-level identifiers.

“Our third quarter performance marks a decisive inflection point,” said Rob Buchner, Chairman and CEO of Inuvo. “With Legacy Search stabilized after several quarters of negative cash flow, we are accelerating into an advertising environment that urgently requires privacy-first AI solutions. As legacy ad tech platforms struggle to adapt to industry turbulence, demand is concentrating around IntentKey’s core strengths: privacy, precision, speed, and proven discovery of net-new audiences. During the fourth quarter, we are executing aggressively our plan to close our growing sales pipeline, grow our client base, and embed our data into next-generation agentic workflows.”

Financial Results for the Third Quarter 2026

Net revenue decreased 70% to $6.8 million in the third quarter of 2026 compared with the same period in 2025, led by an 80% year-over-year decline in Legacy Search revenue resulting from structural changes in the industry and the reset of the Company’s Bonfire platform. Third quarter 2026 Audience Modeling revenue decreased 24% compared with the third quarter of 2025, reflecting lower spend from a key client. In addition, the Company overhauled its sales team and go-to-market strategy in early summer 2026, which has resulted in an expanding sales pipeline, but fewer revenue conversions during the quarter as sales progress through the typical sales cycle of four-to-six months.

Third quarter 2026 gross margin was 44%, compared with 73% in the third quarter of 2025. The change was driven by the contraction in Legacy Search and the resulting shift in revenue mix. Legacy Search has historically carried a higher gross margin but a lower direct operating margin than Audience Modeling, as a lower proportion of its costs are recorded in cost of revenue and a greater portion in marketing and other operating expenses.

Third quarter 2026 operating expenses were $7.8 million and included a $2.4 million non-cash charge related to the impairment of certain intangible and long-lived assets related to Legacy Search. Operating expenses were also impacted by a 90% year-over-year decrease in marketing costs attributable to lower traffic acquisition costs associated with Legacy Search and a 35% year-over-year decrease in compensation costs related to cost optimization efforts made earlier in the year. Operating loss for the third quarter of 2026 was $4.8 million compared with $1.7 million in the third quarter of 2025. Financing expense, net was $0.4 million compared with $0.1 million in the prior-year period, reflecting the secured promissory notes issued in June 2026. Other income of $0.3 million reflected a net gain on the change in fair value of notes payable.

Net loss for the third quarter of 2026 was $5.0 million, or $0.28 per share, compared with a net loss of $1.7 million, or $0.12 per share, in the same period in 2025. Adjusted EBITDA for the third quarter of 2026 was a loss of $1.6 million, compared with a loss of $0.7 million in the third quarter of 2025.

Liquidity and Capital Resources
During the quarter, the Company completed the purchase and sale of common stock and pre-funded warrants in a registered direct offering as well as a concurrent private placement of warrants for gross proceeds of $3.0 million. As of September 30, 2026, the Company had $1.0 million in cash and cash equivalents and $6.2 million in restricted cash. The Company will need to raise additional capital, continue implementing cost reductions, and expand revenue to fund its operations over the next twelve months.

2026 Outlook
For the balance of 2026, Inuvo currently expects:

• Audience Modeling Growth – Fourth quarter revenue expected to increase compared to third quarter 2026 supported by a healthy sales pipeline.
• Legacy Search – Quarterly revenue and margins in line with third quarter 2026.
• Operating Discipline – Fourth quarter operating expenses expected to remain lower year over year as a result of lower compensation costs and lower traffic acquisition costs, consistent with lower Legacy Search revenue.
• Strategic Execution – Continued focus on brand-direct growth, raising IntentKey’s industry profile, product innovation and higher-margin revenue.

Conference Call Details:
The Company will host the third quarter results call scheduled for today at 4:15 p.m. Eastern Time.

Toll-free Dial-in Number: 1-800-717-1738
International Dial-in Number: 1-646-307-1865
Conference ID: 1122251
Webcast Link: https://viavid.webcasts.com/starthere.jsp?ei=1777035&tp_key=f5a1b88357

A telephone replay will be available through Thursday, December 3, 2026. To access the replay, please dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international). At the system prompt, please enter the code 1122251 followed by the # sign. You will then be prompted for your name, company, and phone number. Playback will then automatically begin.

About Inuvo

Inuvo, Inc. (NYSE American: INUV) is a disruptive AI specifically designed for modeling media audiences. IntentKey^® AI is a patented technology capable of identifying customer engagement based on real-time media consumption. Our models refresh every 5 minutes and know, with precision, why prospects are interested in a product or brand, in turn, predicting purchase intent 24 hours before legacy programmatic systems can respond to buying signals. Inuvo’s language-based AI does not rely on consumer IDs, keeping Inuvo on the vanguard of consumer data privacy. To learn more, visit www.inuvo.com.

Safe Harbor / Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our 2026 outlook, expected Audience Modeling revenue growth, the conversion of our sales pipeline and the length of our sales cycle, Legacy Search revenue, margins and cash flows, expected operating expenses, the anticipated benefits of product initiatives and partner programs, and our liquidity and capital resources, and our ability to fully execute a plan that would be probable of mitigating or eliminating the existence of substantial doubt regarding our ability to continue as a going concern, that are subject to risks and uncertainties that could cause results to be materially different than expectations. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Inuvo, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 as filed on March 5, 2026, and our other filings with the SEC.  Additionally, forward looking statements are subject to certain risks, trends, and uncertainties on Inuvo’s business and operations. Inuvo cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this press release. The information which appears on our websites and our social media platforms is not part of this press release.

Investor Contact:
Derric Ciccone
President and Chief Financial Officer
Email: derric.ciccone@inuvo.com

(Tables follow)

INUVO, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
		September 30 2026			December 31 2025
Assets
Cash and cash equivalent and restricted cash		$2,219,391			$2,839,921
Accounts receivable, net			4,163,716			5,887,884
Prepaid expenses and other current assets			449,254			489,790
Total current assets			6,832,361			9,217,595
Property and equipment, net			1,179,943			1,629,561
Restricted Cash, net of current portion			5,038,313			–
Goodwill			9,853,342			9,853,342
Intangible assets, net of accumulated amortization			684,500			3,425,375
Other assets			513,257			741,977
Total assets		$24,101,716			$24,867,850
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable		$4,075,969			$7,090,784
Accrued expenses and other current liabilities			3,437,100			3,914,067
Outstanding borrowings under Financing Agreement			–			3,288,100
Notes payable, current portion, net			3,711,000			–
Total current liabilities			11,224,069			14,292,951
Long-term liabilities
Notes payable, net of current portion			6,159,000			–
Other long-term liabilities			409,277			551,883
Total long-term liabilities			6,568,277			551,883
Total stockholders’ equity			6,309,370			10,023,016
Total liabilities and stockholders’ equity		$24,101,716			$24,867,850

INUVO, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
		Three Months Ended									Nine Months Ended
		September 30				September 30					September 30				September 30
			2026					2025				2026				2025
Net revenue		$6,802,036				$22,570,572					$22,264,645				$71,949,937
Cost of revenue			3,812,452				6,002,423					12,283,084				17,199,909
Gross profit			2,989,584				16,568,149					9,981,561				54,750,028
Operating expenses:
Marketing costs			1,410,615				13,375,136					4,896,380				45,026,458
Compensation			2,049,736				3,145,125					8,604,340				9,945,452
Selling, general and administrative			4,334,035				1,717,591					8,208,823				5,261,165
Total operating expenses			7,794,386				18,237,852					21,709,543				60,233,075
Operating loss			(4,804,802	)			(1,669,703		)			(11,727,982	)			(5,483,047	)
Financing (expense), net			(425,980	)			(113,633		)			(931,478	)			(159,259	)
Other income (expense)			279,700				48,124					5,569,472				1,148,686
Income tax (expense)			(5,354	)			(5,352		)			(10,707	)			(8,028	)
Net loss			(4,956,436	)			(1,740,564		)			(7,100,695	)			(4,501,648	)
Net loss per share, basic and diluted
Net (loss) income		($0.28		)		($0.12			)		($0.45		)		($0.31		)
Weighted average shares outstanding
Basic			17,825,645				14,558,109					15,803,296				14,427,877
Diluted			17,825,645				14,558,109					15,803,296				14,427,877

Reconciliation of Net Loss to EBITDA and Adjusted EBITDA

We present EBITDA and Adjusted EBITDA as a supplemental measure of our performance. We defined EBITDA as net income/(loss) plus (i) financing expense, (ii) income tax expense, (iii) depreciation, and (iv) amortization. We further define Adjusted EBITDA as EBITDA plus (v) stock-based compensation and ( vi) change in fair value of notes payable and loss on extinguishment of debt, which are non-cash and result from financing activities rather than operations, (vii) impairment, which is non-cash, (viii) the settlement agreement, which relates to a specific matter outside our normal operations, and (ix) severance, which relates to workforce reductions rather than ongoing operating costs. These adjustments are itemized below. We use EBITDA and Adjusted EBITDA internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our operational performance. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating EBITDA and Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same or similar to some of the adjustments in the presentation. Our presentation of EBITDA and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
(unaudited)
		Three Months Ended								Nine Months Ended
		September 30				September 30				September 30				September 30
			2026				2025				2026				2025
Net loss		$	(4,956,436	)		$	(1,740,564	)		$	(7,100,695	)		$	(4,501,648	)
Financing expense, net			425,980				113,633				931,478				159,259
Income tax expense			5,354				5,352				10,707				8,028
Depreciation and amortization			487,519				555,156				1,544,889				1,685,756
EBITDA			(4,037,583	)			(1,066,423	)			(4,613,621	)			(2,648,605	)
Stock-based compensation			257,731				246,814				800,878				842,887
Other adjustments:
Loss (gain) on extinguishment of debt & fair value adjustment of notes payable			(278,015	)			–				574,038				–
Impairment of intangible and long-lived assets			2,448,750								2,448,750
Settlement Agreement			–				–				(6,163,029	)			–
Severance			53,786				150,000				1,438,824				150,000
Adjusted EBITDA			(1,555,331	)			(669,609	)			(5,514,160	)			(1,655,718	)

LOS ANGELES, Nov. 12, 2026 (GLOBE NEWSWIRE) — MediaAlpha, Inc. (NYSE: MAX), the insurance industry’s leading programmatic customer acquisition platform, today announced that it has repurchased 1.13 million shares of its Class A common stock from an affiliate of White Mountains Insurance Group, Ltd. (NYSE: WTM) for approximately $16.0 million. MediaAlpha bought the shares in a privately negotiated transaction at $14.15 per share, a discount of approximately 5.5% to the closing price of its Class A common stock on November 11, 2026. The repurchased shares will be canceled and retired.

“We opportunistically repurchased a significant number of shares at a discount to the market price because we are confident in MediaAlpha’s strategy, execution, and multi-year growth prospects,” said Tigran Sinanyan, Chief Financial Officer of MediaAlpha. “Including this transaction, we have repurchased $131 million of our stock since July 2025, or approximately 18% of our shares outstanding at that time, and we expect stock repurchases to be a part of our capital allocation strategy for the foreseeable future.”

White Mountains, MediaAlpha’s largest stockholder, has been an investor since 2014. Following the transaction, White Mountains owned approximately 11.3 million shares of MediaAlpha’s Class A common stock, representing approximately 19% of its total outstanding shares.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about MediaAlpha’s confidence in its strategy, execution and multi-year growth prospects, and its expectations regarding cash flow generation, continued investment, and returning capital to shareholders. These forward-looking statements reflect MediaAlpha’s current expectations with respect to, among other things, future events and our financial performance, expectations about our industry, and management’s beliefs and certain assumptions made by management, which, by their nature, are inherently uncertain. These factors are subject to risks and uncertainties that could cause actual results to differ materially, including those more fully described in MediaAlpha’s filings with the Securities and Exchange Commission, including under “Risk Factors” in MediaAlpha’s Annual Report on Form 10-K for the year ended December 31, 2025 and its subsequent Quarterly Reports on Form 10-Q. These factors should not be construed as exhaustive. MediaAlpha undertakes no obligation to update any forward-looking statement, except as required by law.

About MediaAlpha

We believe we are the insurance industry’s leading programmatic customer acquisition platform. With more than 1,150 active partners, in addition to our agent partners, we connect insurance carriers with online shoppers and generated over 141 million Consumer Referrals in 2025. Our programmatic advertising technology powered $2.2 billion in spend in 2025 on brand, comparison, and metasearch sites across property & casualty insurance, health insurance, life insurance, and other industries. For more information, please visit www.mediaalpha.com.

Investor Contact
Investors@mediaalpha.com

BALTIMORE, Nov. 12, 2026 (GLOBE NEWSWIRE) — On November 12, 2026, Adams Natural Resources Fund, Inc. (NYSE: PEO) declared a distribution of $0.84 per share payable December 21, 2026 to shareholders of record on November 20, 2026. The distribution is optionally payable in additional shares of common stock (default) or in cash by specific stockholder election received before 4 p.m. (ET) on December 10, 2026, the valuation date. The issue price for shares will be the lower of the Fund’s closing NYSE market price or the Fund’s NAV per share on the valuation date, but in no event less than 95% of the NYSE closing market price.

The total distributions per share declared by the Fund in 2026 is $2.39. The annual distribution rate represented by these distributions is 8.4%.

The Fund’s estimated sources for the distribution to be paid on December 21, 2026 and for all distributions declared in 2026 to date are as follows:

Payment Date	Distribution per Share		Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
December 21, 2026	$0.84		$0.22 (26%)	$0.09 (11%)	$0.53 (63%)	$0.00 (0%)
Total YTD 2026	$2.39		$0.64 (27%)	$0.24 (10%)	$1.51 (63%)	$0.00 (0%)

Fund Performance and Distribution Rate Information:

Average Annual Total Return (on NAV for the 5-year period ended on October 31, 2026)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of October 31, 2026) 2	Cumulative Total Return (on NAV for the fiscal year through October 31, 2026) 1	Cumulative Fiscal Year Distribution Rate (as a percentage of NAV as of October 31, 2026) 3
21.1%	9.8%	51.5%	6.9%

¹ Total return is calculated assuming a purchase of a Fund share at the beginning of the period and a sale on the last day of the period at reported net asset value per share, excluding any brokerage commissions. Distributions are assumed to be reinvested at the lower of the net asset value per share or the closing NYSE market price on the distribution’s valuation date for those receiving shares for the distribution. For periods greater than one year, returns are presented on an annualized basis.

² The Annualized Current Distribution Rate is the current quarter’s distribution rate per share annualized and expressed as a percentage of the Fund’s NAV per share as of October 31, 2026.

³ The Cumulative Fiscal Year Distribution Rate is the distributions per share for the current fiscal year period, expressed as a percentage of the Fund’s NAV per share as of October 31, 2026.

You should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Fund’s Distribution Policy. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

About Adams Funds

Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 90 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.

CONTACT: For further information, please contact: adamsfunds.com/about/contact │800.638.2479

Fort Lauderdale, FL, Nov. 12, 2026 (GLOBE NEWSWIRE) — OptimumBank Holdings, Inc. (NYSE American: OPHC) (the “Company”) is a financial holding company and owns 100% of OptimumBank (the “Bank”), a Florida-chartered commercial bank, OptimumHUD Loans, LLC (d/b/a OptimumFunding, LLC), a wholly owned non-bank Bridge and HUD-lender and OptimumFinance, LLC, a non-bank, wholly owned financing subsidiary.

The Company is pleased to announce net income of $7.2 million, or $0.30 per basic and diluted share, for the third quarter of 2026. As a result of the Company’s April 29, 2026 exchange of all outstanding preferred stock for common stock, the Company had no preferred stock outstanding during the third quarter of 2026. Accordingly, basic and diluted earnings per share were the same for the quarter. Because diluted earnings per share for prior periods reflected the potential common shares underlying the Company’s then-outstanding preferred stock, management believes comparison of the current quarter’s $0.30 basic and diluted earnings per share to diluted earnings per share in prior periods provides a more meaningful view of per-share earnings performance across periods.

Net income for the third quarter of 2026 increased to $7.2 million from $6.7 million in the second quarter of 2026 and $4.3 million in the third quarter of 2025. Diluted earnings per share increased to $0.30 from $0.28 in the second quarter of 2026 and $0.18 in the third quarter of 2025, representing increases of approximately 7% and 67%, respectively.

For the nine months ended September 30, 2026, net income was $18.5 million, or $1.05 per basic share and $0.78 per diluted share, compared to net income of $11.8 million, or $1.00 per basic share and $0.50 per diluted share, for the nine months ended September 30, 2025. The $6.7 million increase in net income for the nine months ended September 30, 2026, compared to the same period in 2025, was primarily driven by a $14.0 million increase in net interest income and a $2.1 million increase in noninterest income, partially offset by a $7.0 million increase in noninterest expense and the corresponding increase in income tax expense.

The Company will host a webcast call to discuss the results of the third quarter of 2026 on November 13, 2026, at 10:00am ET. Those interested in viewing the Company’s presentation are encouraged to register for the live Webcast, at the following link: https://events.q4inc.com/attendee/603182555/guest. Company management will also be available to respond to questions at the conclusion of the presentation.

The Company continued with strong growth throughout the third quarter of 2026. The gross loan portfolio increased by $150.2 million, or 12.3%, from June 30, 2026 to $1.37 billion at September 30, 2026. Total deposits increased by $128.8 million from June 30, 2026, totaling $1.34 billion at September 30, 2026, or 10.6% from the prior quarter. This also represents growth of $383.3 million in total deposits since September 30, 2025, or an increase of 40.0%.

Highlights for the Third Quarter of 2026

	●	Net income of $7.2 million, or $0.30 per basic share, and $0.30 per diluted share (“diluted EPS”) for the quarter-ended September 30, 2026.
	●	Return on Average Assets (“ROAA”) was 1.95% for the third quarter of 2026, compared to 2.04% in the second quarter of 2026 (both annualized).
	●	Return on Average Equity (“ROAE”) was 19.99% for the third quarter of 2026, compared to 20.34% in the second quarter of 2026 (both annualized).
	●	The Company’s efficiency ratio was 45.86% for the third quarter of 2026, compared to 48.78% in the second quarter of 2026.
	●	Net interest margin was 4.63%, reflecting a six basis point increase from 4.57% in the second quarter of 2026.
	●	Total assets grew by $175.2 million to $1.58 billion from June 30, 2026.
	●	Total deposits increased by $128.8 million to $1.34 billion from June 30, 2026. Noninterest bearing demand deposits increased by $62.3 million or 19.5% to $381.7 million from June 30, 2026.
	●	Gross loans increased by $150.2 million during the quarter to $1.37 billion, compared to $1.22 billion at June 30, 2026.
	●	Total stockholders’ equity increased by $15.0 million to $149.4 million as of September 30, 2026, up from $134.4 million as of June 30, 2026, reflecting continued earnings retention and equity raised through the Company’s at-the-market (“ATM”) program and other private placements.

During the third quarter, the Company continued to execute on its strategic growth initiatives while strengthening its capital position to support future growth. The Company completed a $35.0 million subordinated debt offering during the quarter, followed by a $31.0 million capital contribution to the Bank. The additional capital provides the Bank with increased capacity to support continued balance sheet growth while maintaining strong regulatory capital levels. The Company also continued to expand its lending platform, with growth across all loan portfolio segments, while OptimumFinance, LLC continued to grow its loan portfolio. At the same time, the Company experienced increased visibility within the investment community, accompanied by significantly greater trading activity and liquidity in the Company’s common stock.

“In my first full quarter as Chief Executive Officer, I am very pleased with both our results and the continued progress we are seeing across the Company,” said Chairman of the Board and Chief Executive Officer Moishe Gubin. “We generated record quarterly earnings, continued to produce strong loan and deposit growth, expanded our net interest margin, maintained strong credit quality, and strengthened our capital position. At the same time, we have identified additional opportunities to improve operating efficiency and limit expenses, the benefits of which we expect to begin seeing over the next several quarters. We believe we can realize these efficiencies while continuing to execute across the rest of the business and maintaining the growth momentum we have established. I feel very good about where OptimumBank stands today and the opportunities ahead of us as we continue to build long-term value for our shareholders.”

Net interest income for the quarter-ended September 30, 2026, increased to $16.8 million, up by $2.1 million from the second quarter of 2026 and $5.7 million from the third quarter of 2025, supported by higher yields on loans and securities. The cost of interest-bearing liabilities was 3.49%, up one basis point from 3.48% in the third quarter of 2025, while interest-earning asset yields rose 47 basis points to 6.93%. As a result, the Company’s net interest margin rose 26 basis points from the third quarter of 2025 to 4.63% for the quarter-ended September 30, 2026, a reflection of disciplined loan and deposit pricing strategy, prudent liquidity management, and balance sheet optimization amid a dynamic rate environment.

Noninterest income for the quarter-ended September 30, 2026, increased by $0.4 million from the prior quarter to $2.8 million, primarily driven by an increase in loan fees and an increase in fees related to banking services, partially offset by a decline in the gains on the sale of government guaranteed SBA loans. Noninterest expenses increased to $9.0 million, or $0.6 million from the second quarter, primarily relating to increases in employee compensation expenses, data processing costs, and regulatory assessment expense. The Company’s efficiency ratio (non-GAAP measure) was 45.86% for the third quarter of 2026, consistent with prudent cost management amid balance sheet expansion and associated revenue expansion.

Credit loss expense for the quarter-ended September 30, 2026 was $1.1 million, primarily due to the growth in the loan portfolio. Gross charge-offs remained modest at $40,000 while recoveries totaled $29,000, resulting in net charge-offs of only $11,000 during the third quarter of 2026. The allowance for credit losses stood at $12.1 million as of September 30, 2026, or 0.89% of total loans.

Loan portfolio growth remained strong in the third quarter of 2026 with growth across all loan segments. Gross loans increased by $150.2 million from the prior quarter. Commercial real estate continued to expand, growing by $91.4 million and residential real estate increased $28.8 million in the third quarter. Additionally, there were increases in land and construction of $11.5 million, commercial of $7.8 million, consumer of $6.5 million and in the multifamily portfolio segment of $4.3 million.

The continued growth experienced in the loan portfolio is due to the implementation of our relationship-based banking model and the success of our lenders in competing for new business, as well as the continued expansion of OptimumFinance, LLC during the third quarter of 2026. OptimumFinance, LLC grew its loan portfolio in the third quarter of 2026 to $26.7 million from $14.2 million in the second quarter. During the quarter, OptimumFinance, LLC issued additional notes payable to fund the corresponding asset growth.

On the funding side, total deposits increased by $128.8 million to $1.34 billion from the second quarter of 2026, with strong sequential growth across all deposit categories. The Company had $10.0 million in Federal Home Loan Bank (“FHLB”) advances outstanding at September 30, 2026, a decrease of $15.0 million from June 30, 2026.

On August 19, 2026, the Company issued $35.0 million in aggregate principal amount of 7.50% Fixed-to-Floating Rate Subordinated Notes due 2036 at 100% of their face amount. The subordinated notes bear interest at a fixed rate of 7.50% through September 1, 2031, after which the interest rate will reset quarterly to the then-current three-month term secured overnight financing rate (SOFR) plus 340 basis points. The notes mature on September 1, 2036, and, subject to certain conditions, may be redeemed by the Company beginning September 1, 2031.

The Bank’s capital levels remain strong, with a Tier 1 Leverage Ratio of 12.23%, well above regulatory minimums. The increase of 169 basis points from the prior quarter primarily reflects a $31.0 million capital infusion to the Bank following the issuance of the subordinated debt to support future expectations for continued strong asset growth, partially offset by strong earning asset growth during the third quarter. The Company remains well positioned to support continued growth and earnings momentum.

The Company’s outlook remains constructive. The third quarter of 2026 reflected continued progress, including strong loan and deposit growth, increased net interest income, improved operating efficiency, and continued earnings momentum. The Company also strengthened its capital position through the issuance of $35.0 million of subordinated debt, providing additional capacity to support future growth. OptimumBank continues to benefit from growing recognition within the banking and investment communities, including Buy ratings from all three independent equity research firms currently covering the Company. This increased visibility has been accompanied by significantly greater trading activity and liquidity in the Company’s common stock. Average daily trading volume increased approximately 235%, from 35,600 shares during the second quarter to 119,300 shares during the third quarter, while the Company’s share price increased approximately 49%, from $5.84 on June 30 to $8.72 on September 30. The Company remains focused on technology, talent, and targeted growth initiatives to support continued growth and long-term shareholder value.

The following table presents the Company’s quarterly trends of the consolidated financial highlights (unaudited) for the periods presented (see below for a summary of non-GAAP reconciliation):

						Quarterly Trends																3Q26 change vs
		3Q26				2Q26				1Q26				4Q25				3Q25				2Q26				3Q25
Selected Balance Sheet Data
Total assets		$	1,576,100			$	1,400,937			$	1,268,735			$	1,111,678			$	1,083,043			$	175,163			$	493,057
Total gross loans			1,367,318				1,217,084				1,090,894				958,793				813,722				150,234				553,596
Total deposits			1,342,826				1,214,045				1,092,883				931,750				959,487				128,781				383,339
Earnings Highlights
Net Income		$	7,172			$	6,655			$	4,663			$	4,853			$	4,323			$	517			$	2,849
Diluted earnings per share (EPS)		$	0.30			$	0.28			$	0.20			$	0.21			$	0.18			$	0.02			$	0.12
Net interest income		$	16,781			$	14,697			$	13,190			$	11,871			$	11,048			$	2,084			$	5,733
Performance Ratios
Net interest margin			4.63	%			4.57	%			4.49	%			4.39	%			4.37	%			0.06	%			0.26	%
Net interest spread			3.43	%			3.45	%			3.36	%			3.11	%			2.98	%			-0.02	%			0.45	%
Cost of interest-bearing liabilities			3.49	%			3.30	%			3.26	%			3.34	%			3.48	%			0.19	%			0.02	%
Efficiency ratio			45.86	%			48.78	%			53.47	%			49.59	%			50.68	%			(2.92	)%			(4.82	)%
Loan-to-deposit ratio			100.74	%			99.20	%			98.69	%			101.67	%			83.67	%			1.54	%			17.07	%
Return on (annualized)
Average assets (ROAA)			1.95	%			2.04	%			1.56	%			1.77	%			1.68	%			(0.09	)%			0.27	%
Average equity (ROAE)			19.99	%			20.34	%			15.12	%			16.23	%			15.17	%			(0.35	)%			4.82	%
Average tangible assets (ROTA)			1.95	%			2.04	%			1.56	%			1.77	%			1.68	%			(0.09	)%			0.27	%
Pre-tax pre-provision net revenue (PPNR)		$	10,621			$	8,801			$	6,968			$	6,855			$	6,426			$	1,820			$	4,195
Other Operating Measures
Common Shares outstanding – Voting			13,526,976				12,340,785				12,166,858				11,533,943				11,883,943				1,186,191				1,643,033
Common Shares outstanding – Nonvoting			11,458,351				11,458,351				–				–				–				–				11,458,351
Fully diluted shares outstanding			24,985,327				23,799,136				23,625,209				23,523,473				23,523,473				1,186,191				1,461,854
Fully diluted tangible book value per share		$	5.98			$	5.65			$	5.37			$	5.18			$	4.97			$	0.33			$	1.01
Tangible common equity to tangible assets			9.48	%			9.59	%			10.00	%			10.97	%			10.79	%			(0.11	)%			(1.31	)%
Tier 1 Leverage Ratio			12.23	%			10.54	%			10.74	%			11.39	%			11.71	%			1.69	%			0.53	%

Financial Results

Statement of Income

Net income was $7.2 million for the third quarter of 2026, compared to net income of $6.7 million for the second quarter of 2026, and $4.3 million for the third quarter of 2025. The increase from the second quarter of 2026 was primarily due to an increase in interest income to $25.1 million, compared to $21.7 million in the second quarter, primarily driven by an increase in interest income on loans, partially offset by an increase of $1.3 million in deposit and borrowings interest expense and interest expense associated with the new subordinated debt issuance. Additionally, there was a $0.4 million increase in noninterest income, partially offset by a $0.6 million increase in noninterest expense.

Total interest income was $25.1 million for the third quarter of 2026, compared to $21.7 million in the second quarter of 2026 and $16.3 million in the third quarter of 2025. The sequential growth was driven by a $3.1 million increase in interest income from loans. Compared to the third quarter of 2025, the increase was primarily due to a $457.0 million increase in average loan balances and improvements in loan yields.

The following table depicts the components of interest income (unaudited) for the quarterly periods presented:

		Quarterly Trends																				3Q26 change vs
		3Q26				2Q26				1Q26				4Q25				3Q25				2Q26				3Q25
Interest income
Loans		$	23,451			$	20,386			$	18,114			$	15,437			$	14,082			$	3,065			$	9,369
Debt securities			201				204				191				164				153				(3	)			48
Other			1,460				1,134				1,148				1,837				2,086				326				(626	)
Total interest income		$	25,112			$	21,724			$	19,453			$	17,438			$	16,321			$	3,388			$	8,791

Interest expense totaled $8.3 million for the third quarter of 2026, compared to $7.0 million for the second quarter of 2026 and $5.3 million for the third quarter of 2025. Compared to the second quarter of 2026, the increase in interest expense was primarily attributable to a $91.9 million increase in average interest-bearing liability balances, and a 19 basis point increase in the cost of interest-bearing liabilities from 3.30% to 3.49%. Compared to the third quarter of 2025, there was a $338.9 million increase in average interest-bearing liability balances, with a one basis point increase in the cost of interest-bearing liabilities, from 3.48% to 3.49%.

Net interest income was $16.8 million in the third quarter of 2026, up from $14.7 million in the second quarter of 2026 and $11.0 million in the third quarter of 2025. The quarter-over-quarter increase was primarily driven by growth in the average interest-earning assets of $147.8 million, partially offset by the increase in average interest-bearing liability balances and the higher cost of interest-bearing liabilities. On a year-over-year basis, the growth in net interest income was primarily attributable to a $457.0 million increase in average loan balances.

Net interest margin expanded to 4.63% for the third quarter of 2026, compared to 4.57% for the second quarter of 2026 and 4.37% for the third quarter of 2025. Compared to the second quarter of 2026, net interest margin increased by six basis points, primarily driven by a 17 basis point increase in the yield on interest-bearing assets partially offset by an increase in yields for the cost to fund interest earning assets. Compared to the third quarter of 2025, net interest margin increased by 26 basis points, primarily attributable to a 47 basis point increase in interest earning asset yields, partially offset by an increase in funding costs.

The cost of interest-bearing liabilities was 3.49% in the third quarter of 2026, compared to 3.30% in the second quarter of 2026 and 3.48% in the third quarter of 2025. The increase from the second quarter of 2026 was primarily due to additional notes payable issued by the OptimumFinance, LLC subsidiary during the quarter with an average balance increasing from $10.8 million during the second quarter to $22.9 million for the third quarter. The notes bear interest at 10.00%. The cost of interest bearing liabilities also reflects the subordinated debt issuance on August 19, 2026, with an average balance of $16.1 million during the quarter and average yield of 7.82% (inclusive of the amortization of issuance costs), and modestly higher yields on savings, NOW, and money market deposits. Excluding the OptimumFinance, LLC notes payable and impact from the issuance of subordinated debt during the quarter, the cost of interest-bearing liabilities was 3.25%, or four basis points higher than the second quarter of 2026. Compared to the same quarter last year, the cost of interest-bearing liabilities increased by one basis point. This increase was due to the addition of the notes payable and the subordinated debt and an increase in FHLB borrowings, partially offset by decreases in yields across the deposit portfolio with disciplined pricing following rate reductions that occurred in the prior year.

Credit loss expense was $1.1 million during the third quarter of 2026, compared to a $37,000 reversal in the second quarter of 2026, and $0.8 million of expense for the third quarter of 2025. Credit loss expense in the third quarter of 2026 was primarily attributable to loan growth. The prior quarter’s reversal was primarily attributable to improvements in the credit quality of the loan portfolio and the evaluation of factors used to determine the credit loss. Gross charge-offs remained modest at $40,000 while recoveries totaled $29,000, resulting in net charge-offs of $11,000 during the third quarter of 2026. The Company’s allowance for credit losses stood at $12.1 million, or 0.89% of total loans, as of September 30, 2026 compared to 0.91% at June 30, 2026 and 1.23% at September 30, 2025.

Noninterest income totaled $2.8 million for the third quarter of 2026, up from $2.5 million in the prior quarter and $2.0 million in the third quarter of 2025. During the quarter, the Company collected $0.9 million in late fees from the payoff of a previously reported nonaccrual loan, partially offset by lower gains on the sale of government guaranteed SBA loans compared to the prior quarter. Compared to the same quarter last year, the $0.8 million increase in noninterest income was primarily related to the additional late fees during the quarter and increases in wire transfers, ACH fees on deposit payment transactions, partially offset by lower gains on the sale of government guaranteed SBA loans and lower loan prepayment fees.

Noninterest expenses totaled $9.0 million for the third quarter of 2026, compared to $8.4 million in the second quarter of 2026 and $6.6 million in the third quarter of 2025. Compared to the second quarter of 2026, the increase of $0.6 million primarily relates to a $0.3 million increase in employee compensation expenses, $0.2 million in higher data processing costs, and $0.1 million in higher regulatory assessment expense. Compared to the third quarter of 2025, the increase of $2.4 million includes increases of $1.6 million, $0.4 million, $0.2 million, and $0.2 million in employee compensation expenses, data processing, regulatory assessment expenses, and other expenses, respectively.

The following table depicts the components of noninterest expenses (unaudited) for the quarterly periods presented:

		Quarterly Trends																				3Q26 change vs
(Dollars in thousands)		3Q26				2Q26				1Q26				4Q25				3Q25				2Q26				3Q25
Noninterest expenses
Salaries and employee benefits		$	5,592			$	5,279			$	4,988			$	3,672			$	4,004			$	313			$	1,588
Professional fees			295				363				295				333				276				(68	)			19
Occupancy and equipment			355				354				338				328				327				1				28
Data processing			1,160				986				914				794				788				174				372
Regulatory assessment			318				196				179				161				126				122				192
Losses on sale and write-downs of other real estate owned			–				–				5				54				–				–				–
Other			1,276				1,204				1,287				1,401				1,083				72				193
Total noninterest expenses		$	8,996			$	8,382			$	8,006			$	6,743			$	6,604			$	614			$	2,392

Income tax expense was $2.4 million for the third quarter of 2026 compared to $2.2 million in the second quarter of 2026 and $1.3 million in the third quarter of 2025. The effective tax rate for the quarter was 24.9%, compared to 24.7% in the prior quarter and 23.7% from the prior year comparative quarter.

Balance Sheet

Total assets were $1.58 billion as of September 30, 2026, increasing from $1.40 billion at June 30, 2026, and up from $1.08 billion at September 30, 2025. The quarter-over-quarter growth of $175.2 million was primarily attributable to a $148.4 million increase in net loans and a $27.9 million increase in cash and cash equivalents.

Cash and cash equivalents at September 30, 2026, were $174.1 million, which increased from $146.2 million at June 30, 2026, and decreased from $235.1 million at September 30, 2025.

Investment securities (debt securities available for sale and held-to-maturity) at September 30, 2026, were $25.7 million, compared to $26.9 million at June 30, 2026, and $23.2 million at September 30, 2025. There were no investment security purchases during the third quarter of 2026. No sales of investment securities were reported during these periods.

Total gross loans at September 30, 2026, were $1.37 billion, an increase from $1.22 billion at June 30, 2026, and up from $813.7 million at September 30, 2025. Gross loans increased during the quarter reflecting growth across all portfolio segments, with notably stronger growth in commercial real estate and residential loans. Compared to September 30, 2025, the gross loan portfolio increased by $553.6 million, reflecting growth primarily in commercial real estate.

The allowance for credit losses (“ACL”) was $12.1 million at September 30, 2026, representing 0.89% of total loans, compared to 0.91% at June 30, 2026. The ACL balance saw an increase from $11.0 million and $10 million at June 30, 2026 and September 30, 2025, respectively. The quarter-over-quarter increase of $1.1 million was primarily driven by loan growth during the quarter partially offset by a decline of $0.7 million for the specific reserves due primarily to the resolution and payoff of a previously reported nonaccrual loan. The ACL ratio reflects continued credit discipline and a well-diversified loan portfolio.

The following table presents the components of the ACL (unaudited) as of the dates indicated:

																						September 30, 2026 change vs
		September 30,				June 30,				March 31,				December 31,				September 30,				June 30,				September 30,
		2026				2026				2026				2025				2025				2026				2025
Beginning balance		$	11,020			$	11,061			$	10,273			$	10,018			$	9,338			$	(41	)		$	1,682
Credit loss expense (reversal) – funded			1,111				(30	)			791				389				639				1,141				472
Charge-offs			(40	)			(50	)			(44	)			(201	)			(129	)			30				109
Recoveries			29				39				41				67				170				(30	)			(161	)
Ending balance		$	12,120			$	11,020			$	11,061			$	10,273			$	10,018			$	1,100			$	2,102

Nonperforming assets (“NPA”) reflected strong asset quality at September 30, 2026. Nonaccrual loans decreased to $1.8 million from $2.2 million at June 30, 2026, and $3.0 million at September 30, 2025. The $0.3 million decrease from June 30, 2026 was due to a payoff of a previously reported $1.0 million nonaccrual loan partially offset by the addition of $0.7 million of other nonaccrual loans during the quarter. The $1.2 million decrease from September 30, 2025, primarily reflects payoffs of previously recorded commercial nonaccrual loans. The Company did not report any other real estate owned (“OREO”) properties at September 30, 2026 or June 30, 2026. Compared to September 30, 2025, OREO declined $0.6 million with the resolution of a previously reported asset during the first quarter of 2026. At September 30, 2026, there were no loans accruing interest that were 90 days or more past due. Additionally, the Company did not report any modified loans to borrowers experiencing financial difficulty during the third quarter of 2026.

Total deposits at September 30, 2026, were $1.34 billion, an increase from $1.21 billion at June 30, 2026, and an increase from $959.5 million at September 30, 2025. The increase from June 30, 2026, was attributable to increases in all deposit categories, including a $62.3 million, or 19.5% sequential increase in noninterest-bearing demand deposits and a $34.2 million, or 8.9% sequential increase in savings, NOW, and money market deposits. The increase from September 30, 2025, was also attributable to increases in all deposit categories, most notably a 61.6% increase in time deposits and a 21.6% increase in noninterest-bearing demand deposits. The Company continues to maintain a diverse and stable funding base.

Accumulated other comprehensive loss (“AOCL”) was $5.5 million at September 30, 2026, compared to $4.8 million at June 30, 2026, and $4.8 million at September 30, 2025. AOCL increased by $0.6 million quarter-over-quarter and $0.7 million year-over-year, primarily due to the increase in mid-to-long-term interest rates impacting the fair value of available-for-sale securities. All AOCL amounts represent unrealized gains and losses, net of applicable income taxes, and have no impact on reported earnings or regulatory capital.

Shareholders’ equity was $149.4 million as of September 30, 2026, compared to $134.4 million as of June 30, 2026, and $116.9 million as of September 30, 2025. The increase during the third quarter was principally attributable to net income of $7.2 million, $5.1 million in additional equity through private stock sales issued by the Company, $3.4 million in additional equity through the Company’s ATM program, partially offset by the $0.6 million increase in AOCL.

Earnings Per Share (“EPS”) for the quarter-ended September 30, 2026, was $0.30 per basic and diluted share, compared to $0.40 per basic share and $0.28 per diluted share for the quarter-ended June 30, 2026, and $0.37 per basic share and $0.18 per diluted share for the quarter-ended September 30, 2025. The increase in diluted earnings per share compared to the prior periods was primarily driven by growth in net income, which increased from $4.3 million for the quarter-ended September 30, 2025, to $7.2 million for the quarter-ended September 30, 2026.

Diluted earnings per share for prior periods have been retrospectively adjusted to reflect the amended conversion rights of the Series B Convertible Preferred Stock, which became effective during the third quarter of 2025, to ensure comparability.

Additionally, during the second quarter of 2026, the Company amended its Articles of Incorporation to authorize a new class of Nonvoting Common Stock and exchanged all outstanding Series B and Series C Convertible Preferred Stock for an aggregate of 11,458,351 shares of Nonvoting Common Stock. The creation of the Nonvoting Common Stock allowed the Company to simplify its capital structure by eliminating the outstanding convertible preferred stock while preserving the existing voting structure of the Company. Because the Series B and Series C Convertible Preferred Stock had already been reflected in the Company’s diluted weighted-average share count under the if-converted method, the exchange did not materially affect diluted earnings per share or further dilute existing shareholders’ ownership interests. The primary impact was on the weighted-average common shares used in the calculation of basic earnings per share, as the exchange occurred during the second quarter and basic EPS for the prior quarter reflects the timing of the conversion.

Accordingly, this release presents both basic and diluted earnings per share to facilitate comparability with prior periods and to reflect the transition in the Company’s capital structure. Absent future dilutive securities or other changes in the Company’s capital structure, the Company expects basic and diluted earnings per share to be equivalent, as reflected in the current quarter’s results.

Although GAAP accounting generally presents book value based on common shares outstanding, the Company believes a more comprehensive measure of shareholder value is on a fully diluted basis.

Tangible book value per diluted share was $5.98 at September 30, 2026, up $0.33 per share, or 23.2% annualized from $5.65 at June 30, 2026 on a fully diluted basis, and up $1.01, or 20.3% from $4.97 at September 30, 2025. This is based on total common shares outstanding of 24,985,327 at September 30, 2026 (up from 23,799,136 shares on a fully diluted basis at June 30, 2026, and up from 23,523,473 shares on a fully diluted basis at September 30, 2025). Common shares totaling 452,725 were issued in the quarter-ended September 30, 2026, through the Company’s ATM offering and an additional 733,466 were issued via private stock sales during the quarter. The increase in tangible book value per diluted share reflects strong quarterly earnings performance and overall capital strength.

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release which are not statements of historical fact are forward-looking statements within the meaning of, and subject to the protection of, the federal securities laws. Forward looking statements include, among others, statements with respect to our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance and involve known and unknown risks, many of which are beyond our control and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements made in this press release. You can identify forward-looking statements through our use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “predicts,” “could,” “should,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions. Forward-looking statements are based on our current beliefs and expectations and are subject to significant risks and uncertainties. Accordingly, we caution you not to place undue reliance on such statements. We undertake no obligation to update or revise any of our forward-looking statements for events or circumstances that arise after the statement is made, except as otherwise may be required by law. Factors that could cause actual results to differ materially include, among others: changes in interest rates and economic conditions, particularly in Florida; the concentration of our loan portfolio in commercial real estate; credit quality and the adequacy of our allowance for credit losses; our ability to manage growth; deposit concentrations and liquidity; our ability to service our subordinated notes and the borrowings of our non-bank subsidiaries; competition; changes in laws and regulations; and the other factors described in our filings with the Securities and Exchange Commission.

Investor Relations & Corporate Relations

Contact: Seth Denison
Telephone: (305) 401-4140
Email: SDenison@OptimumBank.com

OptimumBank Holdings, Inc.
Consolidated Balance Sheets (Unaudited)
(Dollars in thousands)

																						September 30, 2026 change vs
		September 30,				June 30,				March 31,				December 31,				September 30,				June 30,				September 30,
		2026				2026				2026				2025				2025				2026				2025
Assets
Cash and due from banks		$	14,056			$	14,637			$	15,074			$	9,349			$	9,271			$	(581	)		$	4,785
Interest-bearing deposits with banks			160,040				131,601				124,942				105,210				225,815				28,439				(65,775	)
Total cash and cash equivalents			174,096				146,238				140,016				114,559				235,086				27,858				(60,990	)
Debt securities available for sale			25,473				26,646				27,044				25,184				22,926				(1,173	)			2,547
Debt securities held-to-maturity			203				208				212				214				246				(5	)			(43	)
Loans, net of allowance for credit losses			1,352,805				1,204,381				1,078,533				947,294				802,812				148,424				549,993
Federal Home Loan Bank stock			1,253				1,966				2,678				3,028				658				(713	)			595
Premises and equipment, net			3,045				3,132				2,797				2,490				2,308				(87	)			737
Other real estate owned			–				–				–				551				605				–				(605	)
Right-of-use lease assets			2,298				2,405				2,511				2,617				2,725				(107	)			(427	)
Accrued interest receivable			5,111				4,862				3,994				3,621				3,171				249				1,940
Deferred tax asset			3,379				3,143				3,116				3,108				3,238				236				141
Other assets			8,437				7,956				7,834				9,012				9,268				481				(831	)
Total assets		$	1,576,100			$	1,400,937			$	1,268,735			$	1,111,678			$	1,083,043			$	175,163			$	493,057
Liabilities and Stockholders’ Equity
Liabilities
Noninterest-bearing demand deposits		$	381,667			$	319,375			$	304,887			$	266,520			$	313,973			$	62,292			$	67,694
Savings, NOW and money-market deposits			417,512				383,297				345,494				306,921				309,087				34,215				108,425
Time deposits			543,647				511,373				442,502				358,309				336,427				32,274				207,220
Total deposits			1,342,826				1,214,045				1,092,883				931,750				959,487				128,781				383,339
Federal Home Loan Bank advances			10,000				25,000				40,000				50,000				–				(15,000	)			10,000
Operating lease liabilities			2,447				2,547				2,647				2,745				2,846				(100	)			(399	)
Subordinated Debt			34,374				–				–				–				–				34,374				34,374
Other Borrowings			26,554				14,000				–				–				–				12,554				26,554
Other liabilities			10,510				10,965				6,357				5,286				3,822				(455	)			6,688
Total liabilities			1,426,711				1,266,557				1,141,887				989,781				966,155				160,154				460,556
Stockholders’ equity
Preferred stock			–				–
Series B Convertible Preferred			–				–				–				–				–				–				–
Series C Convertible Preferred			–				–				–				–				–				–				–
Preferred stock, value			–				–				–				–				–				–				–
Common stock			135				124				122				115				119				11				16
Nonvoting Common stock			115				115				–				–				–				–				115
Additional paid-in capital			122,304				113,832				112,993				112,578				112,574				8,472				9,730
Retained earnings (accumulated deficit)			32,291				25,119				18,464				13,801				8,948				7,172				23,343
Accumulated other comprehensive loss			(5,456	)			(4,810	)			(4,731	)			(4,597	)			(4,753	)			(646	)			(703	)
Total stockholders’ equity			149,389				134,380				126,848				121,897				116,888				15,009				32,501
Total liabilities and stockholders’ equity		$	1,576,100			$	1,400,937			$	1,268,735			$	1,111,678			$	1,083,043			$	175,163			$	493,057

OptimumBank Holdings, Inc.
Consolidated Statements of Earnings – Quarterly (Unaudited)
(Dollars in thousands, except per share amounts)

		Quarterly Trends																				3Q26 change vs
		3Q26				2Q26				1Q26				4Q25				3Q25				2Q26				3Q25
Interest income
Loans		$	23,451			$	20,386			$	18,114			$	15,437			$	14,082			$	3,065			$	9,369
Debt securities			201				204				191				164				153				(3	)			48
Other			1,460				1,134				1,148				1,837				2,086				326				(626	)
Total interest income			25,112				21,724				19,453				17,438				16,321				3,388				8,791
Interest expense
Deposits			7,334				6,633				6,176				5,561				5,273				701				2,061
Borrowings			680				394				87				6				–				286				680
Interest on subordinated debt			317				–				–				–				–				317				317
Total interest expense			8,331				7,027				6,263				5,567				5,273				1,304				3,058
Net interest income			16,781				14,697				13,190				11,871				11,048				2,084				5,733
Credit loss expense (reversal)			1,066				(37	)			770				398				763				1,103				303
Net interest income after credit loss expense (reversal)			15,715				14,734				12,420				11,473				10,285				981				5,430
Noninterest income
Service charges and fees			1,607				1,551				1,313				1,268				1,252				56				355
Other			1,229				935				471				459				730				294				499
Total noninterest income			2,836				2,486				1,784				1,727				1,982				350				854
Noninterest expenses
Salaries and employee benefits			5,592				5,279				4,988				3,672				4,004				313				1,588
Professional fees			295				363				295				333				276				(68	)			19
Occupancy and equipment			355				354				338				328				327				1				28
Data processing			1,160				986				914				794				788				174				372
Regulatory assessment			318				196				179				161				126				122				192
Losses on sale and write-downs of other real estate owned			–				–				5				54				–				–				–
Other			1,276				1,204				1,287				1,401				1,083				72				193
Total noninterest expenses			8,996				8,382				8,006				6,743				6,604				614				2,392
Income before income taxes			9,555				8,838				6,198				6,457				5,663				717				3,892
Income taxes			2,383				2,183				1,535				1,604				1,340				200				1,043
Net Income		$	7,172			$	6,655			$	4,663			$	4,853			$	4,323			$	517			$	2,849
Earnings per share – Basic		$	0.30			$	0.40			$	0.39			$	0.42			$	0.37			$	(0.11	)		$	(0.07	)
Earnings per share – Diluted		$	0.30			$	0.28			$	0.20			$	0.21			$	0.18			$	0.02			$	0.12

OptimumBank Holdings, Inc.
Consolidated Statements of Earnings – Nine Months Ended (Unaudited)
(Dollars in thousands, except per share amounts)

		Nine Months Ended
		September 30,
		2026				2025				Change
Interest income
Loans		$	61,953			$	41,709			$	20,244
Debt securities			597				471				126
Other			3,742				4,736				(994	)
Total interest income			66,292				46,916				19,376
Interest expense
Deposits			20,143				15,873				4,270
Borrowings			1,161				327				834
Interest on subordinated debt			317				–				317
Total interest expense			21,621				16,200				5,421
Net interest income			44,671				30,716				13,955
Credit loss expense			1,799				1,638				161
Net interest income after credit loss expense			42,872				29,078				13,794
Noninterest income
Service charges and fees			4,470				3,389				1,081
Other			2,636				1,658				978
Total noninterest income			7,106				5,047				2,059
Noninterest expenses
Salaries and employee benefits			15,860				11,123				4,737
Professional fees			953				798				155
Occupancy and equipment			1,048				903				145
Data processing			3,060				1,946				1,114
Regulatory assessment			693				526				167
Other			3,773				3,115				658
Total noninterest expenses			25,387				18,411				6,976
Income before income taxes			24,591				15,714				8,877
Income taxes			6,101				3,919				2,182
Net Income		$	18,490			$	11,795			$	6,695
Earnings per share – Basic		$	1.05			$	1.00			$	0.05
Earnings per share – Diluted		$	0.78			$	0.50			$	0.28

OptimumBank Holdings, Inc.
Consolidated Average Balances, Interest Income and Expenses, Yields and Rates (QTD) (Unaudited)
(Dollars in thousands, except average yields/rates)

		Three Months Ended September 30,
		3Q26												2Q26												3Q25
						Interest				Average								Interest				Average								Interest				Average
		Average				and				Yield/				Average				and				Yield/				Average				and				Yield/
		Balance				Dividends				Rate(1)				Balance				Dividends				Rate(5)				Balance				Dividends				Rate(5)
Interest-earning assets
Loans		$	1,257,377			$	23,451				7.40	%		$	1,141,791			$	20,386				7.16	%		$	800,336			$	14,082				7.04	%
Securities			26,397				201				3.02	%			27,042				204				3.03	%			22,695				153				2.70	%
Other (2)			154,139				1,460				3.76	%			121,282				1,134				3.75	%			188,109				2,086				4.44	%
Total interest-earning assets/interest income			1,437,913				25,112				6.93	%			1,290,115				21,724				6.75	%			1,011,140				16,321				6.46	%
Cash and due from banks			15,072												14,702												9,557
Premises and equipment			3,114												2,825												2,414
Other			4,776												4,025												5,209
Total assets		$	1,460,875											$	1,311,667											$	1,028,320
Interest-bearing liabilities
Savings, NOW and money-market deposits		$	403,727			$	2,470				2.43	%		$	367,750			$	2,168				2.36	%		$	286,156			$	1,800				2.52	%
Time deposits			493,478				4,864				3.91	%			462,792				4,465				3.87	%			320,800				3,473				4.33	%
Subordinated debt			16,080				317				7.82	%			–				–				–				–				–				–
Borrowings (3)			9,674				97				3.98	%			12,685				118				3.73	%			–				–				–
Notes Payable			22,904				583				10.10	%			10,770				276				10.28	%			–				–				–
Total interest-bearing liabilities/interest expense			945,863				8,331				3.49	%			853,997				7,027				3.30	%			606,956				5,273				3.48	%
Noninterest-bearing demand deposits			359,783												314,858												298,670
Other liabilities			12,867												11,584												8,687
Stockholders’ equity			142,362												131,228												114,007
Total liabilities and stockholders’ equity		$	1,460,875											$	1,311,667											$	1,028,320
Net interest income						$	16,781											$	14,697											$	11,048
Interest-rate spread (4)											3.43	%											3.45	%											2.98	%
Net interest margin (5)											4.63	%											4.57	%											4.37	%
Ratio of average interest-earning assets to average interest-bearing liabilities			1.52												1.51												1.67

(1	)	Annualized.
(2	)	Includes interest-earning deposits with banks, Federal Funds Sold and Federal Home Loan Bank stock dividends.
(3	)	Includes Federal Home Loan Bank, and other borrowings.
(4	)	Interest rate spread represents the difference between average yield on interest-earning assets and the average cost of interest-bearing liabilities.
(5	)	Net interest margin is net interest income divided by average interest-earning assets.

  

OptimumBank Holdings, Inc.
Consolidated Average Balances, Interest Income and Expenses, Yields and Rates (YTD) (Unaudited)
(Dollars in thousands, except average yields/rates)

		Nine Months Ended September 30,
		2026												2025
						Interest				Average								Interest				Average
		Average				and				Yield/				Average				and				Yield/
		Balance				Dividends				Rate(1)				Balance				Dividends				Rate(1)
Interest-earning assets
Loans		$	1,146,917				61,953				7.22	%		$	800,117			$	41,709				6.95	%
Securities			26,655				597				2.99	%			22,785				471				2.76	%
Other (2)			133,089				3,742				3.76	%			143,171				4,736				4.41	%
Total interest-earning assets/interest income			1,306,661				66,292				6.78	%			966,073				46,916				6.48	%
Cash and due from banks			13,436												12,078
Premises and equipment			2,874												2,297
Other			4,473												4,383
Total assets		$	1,327,444											$	984,831
Interest-bearing liabilities
Savings, NOW and money-market deposits		$	368,765				6,533				2.37	%		$	281,207			$	5,293				2.51	%
Time deposits			464,158				13,610				3.92	%			321,011				10,580				4.39	%
Subordinated debt			5,360				317				7.91	%			–				–				–
Borrowings (3)			10,481				305				3.89	%			11,482				327				3.80	%
Notes Payable			11,263				856				10.16	%			–				–				–
Total interest-bearing liabilities/interest expense			860,027				21,621				3.36	%			613,700				16,200				3.52	%
Noninterest-bearing demand deposits			323,757												253,000
Other liabilities			10,766												8,284
Stockholders’ equity			132,894												109,847
Total liabilities and stockholders’ equity		$	1,327,444											$	984,831
Net interest income							44,671											$	30,716
Interest-rate spread (4)											3.42	%											2.96	%
Net interest margin (5)											4.57	%											4.24	%
Ratio of average interest-earning assets to average interest-bearing liabilities			1.52												1.57

(1	)	Annualized.
(2	)	Includes interest-earning deposits with banks, Federal Funds Sold and Federal Home Loan Bank stock dividends.
(3	)	Includes Federal Home Loan Bank, and other borrowings.
(4	)	Interest rate spread represents the difference between average yield on interest-earning assets and the average cost of interest-bearing liabilities.
(5	)	Net interest margin is net interest income divided by average interest-earning assets.

OptimumBank Holdings, Inc.
Segments of Loans Analysis (Unaudited)
(Dollars in thousands)

																						September 30, 2026 change vs
		September 30,				June 30,				March 31,				December 31,				September 30,				June 30,				September 30,
		2026				2026				2026				2025				2025				2026				2025
Residential real estate		$	107,058			$	78,268			$	73,130			$	74,018			$	66,723			$	28,790			$	40,335
Multi-family real estate			56,817				52,551				63,655				65,693				67,435				4,266				(10,618	)
Commercial real estate			996,528				905,174				790,238				666,508				524,865				91,354				471,663
Land and construction			57,786				46,290				41,000				36,212				43,364				11,496				14,422
Commercial			59,184				51,389				46,127				48,196				45,604				7,795				13,580
Consumer			89,945				83,412				76,744				68,166				65,731				6,533				24,214
Total loans			1,367,318				1,217,084				1,090,894				958,793				813,722				150,234				553,596
Deduct:
Net deferred loan fees and costs			(2,393	)			(1,683	)			(1,300	)			(1,227	)			(892	)			(710	)			(1,501	)
Allowance for credit losses			(12,120	)			(11,020	)			(11,061	)			(10,273	)			(10,018	)			(1,100	)			(2,102	)
Loans, net		$	1,352,805			$	1,204,381			$	1,078,533			$	947,293			$	802,812			$	148,424			$	549,993

Explanation of Certain Unaudited Non-GAAP Financial Measures

This press release contains financial information determined by methods other than Generally Accepted Accounting Principles (“GAAP”). Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance and if not provided would be requested by the investor community. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might define or calculate these measures differently. The Company provides reconciliations between GAAP and these non-GAAP measures. These disclosures should not be considered an alternative to GAAP.

Non-GAAP Reconciliations

Pre-tax, Pre-provision earnings

(Dollars in thousands)		3Q26				2Q26				1Q26				4Q25				3Q25
Net Income (GAAP)		$	7,172			$	6,655			$	4,663			$	4,853			$	4,323
Plus: Income Tax Expense			2,383				2,183				1,535				1,604				1,340
Plus: Credit Loss Expense (Reversal)			1,066				(37	)			770				398				763
Pre-tax, Pre-provision earnings (Non-GAAP)		$	10,621			$	8,801			$	6,968			$	6,855			$	6,426

Tangible Book Value Per Common Share and Per Fully Diluted Share (Unaudited)

(Dollars in thousands, except per share amounts)		3Q26				2Q26				1Q26				4Q25				3Q25
Total Stockholders’ (GAAP) and Tangible Common Equity		$	149,389			$	134,380			$	126,848			$	121,897			$	116,888
Common Shares Outstanding – Voting			13,527				12,341				12,167				11,534				11,884
Common Shares Outstanding – Nonvoting			11,458				11,458				–				–				–
Total Common Shares			24,985				23,799				12,167				11,534				11,884
Effect of conversion of series B preferred shares if converted			–				–				10,582				11,114				11,114
Effect of conversion of series C preferred shares if converted			–				–				876				876				526
Total Diluted Shares			24,985				23,799				23,625				23,524				23,524
Tangible Book Value per Common Share		$	5.98			$	5.65			$	10.43			$	10.57			$	9.84
Tangible Book Value per Share – Diluted		$	5.98			$	5.65			$	5.37			$	5.18			$	4.97

Efficiency Ratio:

(Dollars in thousands)			3Q26				2Q26				1Q26				4Q25				3Q25
Noninterest Expense (GAAP)		$	8,996			$	8,382			$	8,006			$	6,743			$	6,604
Net Interest Income (GAAP)			16,781				14,697				13,190				11,871				11,048
Noninterest Income (GAAP)			2,836				2,486				1,784				1,727				1,982
Total Revenue (Non-GAAP)		$	19,617			$	17,183			$	14,974			$	13,598			$	13,030
Efficiency Ratio(1)			45.86	%			48.78	%			53.47	%			49.59	%			50.68	%

⁽¹⁾ Efficiency ratio is defined as total non-interest expense divided by the sum of net interest income and total non-interest income.