OptimumBank

10197 Cleary Boulevard
Plantation, FL 33324

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 35430
Date Established 2000
Assets $0.10 billion
Loans $0.08 billion
Deposits $0.06 billion
Capital $0.01 billion

OptimumBank is an FDIC insured institution located in Plantation, FL. It was founded in 2000 and has approximately $0.1 billion in assets. Customers can open an account at one of its 3 branches.

For a more detailed analysis of OptimumBank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in OptimumBank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Florida, OptimumBank has a significantly higher percent of Multifamily Mortgages, Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 36.32
Multifamily
Mortgages
10.80
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 14.62
Construction and Development Loans 2.26
Commercial Real Estate 45.98
Commercial and Industrial Loans 6.67
Farm Loans 0.00

Deposit Rates - February 19, 2019

Your Current Location: Washington, WA 98109

There are currently no rates available for Optimumbank, but see these great savings and CD rates:

Advertiser Disclosure

Loan Rates - February 19, 2019

Your Current Location: Washington, WA 98109

There are currently no loan rates available for OptimumBank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Washington 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
4.750% 4.750% 0.00 $0 $1,305 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.125% 5.125% 0.00 $0 $1,362 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
5.500 %
$0 Learn More
More Info
Flagstar Bank
Flagstar Bank
Intro APR
3.490 %
After Intro: 6.240 %
Intro Period: 6 months
$25,000 Learn More
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Figure Home Equity Loan Plus
Figure Home Equity Loan Plus
8.000 %
N/A Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$0 Learn More
More Info

Note to OptimumBank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

OptimumBank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Seattle,Washington


OptimumBank Locations


Financial Details

OptimumBank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of OptimumBank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
OptimumBank U.S. Bank Average
0% 7.34%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2018, OptimumBank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $11,245,000 in equity and $1,905,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
OptimumBank U.S. Bank Average
26.15% 9.95%

OptimumBank has a Return on Equity of 26.15% versus the BestCashCow average of 9.95%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
OptimumBank U.S. Bank Average
11.59% 12.19%

OptimumBank has a Capitalization of 11.59% versus the BestCashCow average of 12.19. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

OptimumBank Balance Sheet Analysis

As of September 30, 2018, OptimumBank had assets of $97,021,000, loans of $76,291,000, and deposits of $58,816,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2018
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.00 billion
Total securities $0.01 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.08 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.09 billion
LIABILITIES
Total deposits $0.06 billion
      Interest-bearing deposits $0.05 billion
      Deposits held in domestic offices $0.06 billion
      % insured (estimated) 91.78%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.03 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.09 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

September 30, 2018
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $-0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Frequently Asked Questions About Optimumbank

Branches and Savings

Is Optimumbank FDIC insured?

Yes. It is covered under FDIC Certificate #35430.

Why does Optimumbank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Optimumbank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Optimumbank a commercial bank?

Yes

Where are Optimumbank locations?

See branch locations nearby.

Is Optimumbank open on Saturdays?

Is Optimumbank open on Sundays?

What time does Optimumbank open?

What time does Optimumbank close?

Are Optimumbank ATMs Open 24/7?

Do Optimumbank ATMs accept cash deposits?

Can Optimumbank customers use other ATMs?

Do Optimumbank branches have notaries?

Will Optimumbank notarize my document?

What address for Optimumbank should I put for incoming ACH transfers?

Will the Optimumbank branch print checks?

Do Optimumbank checks expire?

Does Optimumbank require US citizenship to open account?

Can Optimumbank close my account?

Does Optimumbank Report to credit bureaus?

Does Optimumbank Use Equifax?

What is Optimumbank's ACH Routing Number?

What is Optimumbank's SWIFT code?

Products

Does Optimumbank offer mortgages?

Compare mortgage rates here.

Does Optimumbank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Optimumbank offer personal loans?

Compare personal loan rates here.

Does Optimumbank offer student loans?

Will Optimumbank cash a check?

Will Optimumbank redeem a savings bond?

Does Optimumbank cash savings bonds?

Will Optimumbank cash money orders?

Can Optimumbank issue a money order?

Does Optimumbank do currency exchange?

Background on The Bank

Who owns Optimumbank?

How long has Optimumbank been around?

Can Optimumbank transfer to other banks?

Does Optimumbank have quick pay?

Does Optimumbank accept rolled coins?

Will Optimumbank accept loose change?

Where is Optimumbank headquarters?

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*All images, logos and public notes on this page appear courtesy of Optimumbank and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.