U.S. Markets open in 3 hrs 40 mins

FDIC releases Optimumbank from regulatory order

Brian Bandell
FDIC releases Optimumbank from regulatory order

Optimumbank Holdings said that its Plantation-based bank subsidiary was released from its regulatory consent order. The Federal Deposit Insurance Corp. and the Florida Office of Financial Regulation issued a consent order in 2016 against Optimumbank (Nasdaq: OPHC) over allegedly “unsafe or unsound” banking practices. After eight years, Optimumbank is no longer operating under a regulatory order.