OptimumBank Holdings, Inc. 8-K

What Happened
OptimumBank Holdings, Inc. filed a Form 8-K reporting that Timothy Terry retired as the company’s principal executive officer and as President and Chief Executive Officer of its wholly‑owned subsidiary, OptimumBank, effective May 1, 2026. The company appointed its Chairman of the Board, Moishe Gubin, as Chief Executive Officer and principal executive officer of the company and as Chief Executive Officer of OptimumBank, also effective May 1, 2026. The filing notes Mr. Terry will assist with the leadership transition. The Bank concurrently appointed Braden R. Smith as President.

Key Details

• Effective date of changes: May 1, 2026 (reported in Form 8-K filed May 5, 2026).
• Timothy Terry retired as principal executive officer of the company and as President & CEO of OptimumBank; he will assist with transition.
• Moishe Gubin, previously Chairman of the Board, was appointed CEO and principal executive officer of the company and CEO of OptimumBank.
• Braden R. Smith (age 52) was appointed President of the Bank; he served as Chief Business Development Officer at Amerant Bank (Nov 2024–Apr 2026) and as Executive Vice President at Wintrust Financial Corporation (Sep 2009–Nov 2024).

Why It Matters
A change in the company’s top executive is material for investors because it affects leadership and execution of strategy. This 8-K discloses the retirements and appointments but does not include financial impacts, compensation arrangements, or other operational disclosures related to the transition. Investors may want to watch for future filings or company communications that provide details on succession plans, executive compensation, or any strategic changes that follow these leadership moves.