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OptimumBank Holdings (OptimumBank Holdings) Effective Interest Rate on Debt % : 42.16% (As of Dec. 2023)


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What is OptimumBank Holdings Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. OptimumBank Holdings's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $16.14 Mil. OptimumBank Holdings's average total debt for the quarter that ended in Dec. 2023 was $38.28 Mil. Therefore, OptimumBank Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 42.16%.


OptimumBank Holdings Effective Interest Rate on Debt % Historical Data

The historical data trend for OptimumBank Holdings's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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OptimumBank Holdings Effective Interest Rate on Debt % Chart

OptimumBank Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.95 8.07 4.30 25.33 31.58

OptimumBank Holdings Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 23.01 49.63 52.00 96.86 42.16

Competitive Comparison of OptimumBank Holdings's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, OptimumBank Holdings's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


OptimumBank Holdings's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, OptimumBank Holdings's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where OptimumBank Holdings's Effective Interest Rate on Debt % falls into.



OptimumBank Holdings Effective Interest Rate on Debt % Calculation

OptimumBank Holdings's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -12.067/( (12.172+64.248)/ 2 )
=-1  *  -12.067/38.21
=31.58 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=12.172 + 0
=12.172

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=64.248 + 0
=64.248

OptimumBank Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2023 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -16.14/( (12.31+64.248)/ 2 )
=-1  *  -16.14/38.279
=42.16 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=64.248 + 0
=64.248

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


OptimumBank Holdings  (NAS:OPHC) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


OptimumBank Holdings Effective Interest Rate on Debt % Related Terms

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OptimumBank Holdings (OptimumBank Holdings) Business Description

Industry
Traded in Other Exchanges
N/A
Address
2929 East Commercial Boulevard, Suite 303, Fort Lauderdale, FL, USA, 33308
OptimumBank Holdings Inc serves as a bank holding company for OptimumBank. The Bank provides a range of community banking services to individuals and corporate customers. Its services include demand interest-bearing and non-interest-bearing accounts, negotiable order of withdrawal account, money market deposit accounts, debit cards, and automated teller machines.
Executives
Moishe Gubin director 2929 E. COMMERCIAL BLVD, FORT LAUDERDALE FL 33308
Chan Heng Fai Ambrose director 2601 INSLAND PLACE TOWER, 510 KINGS RD N POINT, HONG KONG K3 999999999
Jeffry T Wagner director 7667 N. WICKHAM RD, SUITE 516, MELBOURNE FL 32940
Norman Joseph Ginsparg director 3800 N 39 AVE, HOLLYWOOD FL 33021
Joel J. Klein director 2477 E. COMMERCIAL BOULEVARD, FORT LAUDERDALE FL 33308
Seth Gillman director 2477 E. COMMERCIAL BLVD, FORT LAUDERDALE FL 33308
Sam Borek director OPTIMUMBANK, 10197 CLEARY BOULEVARD, PLANTATION FL 33324
Thomas A Procelli officer: EXECUTIVE VICE PRESIDENT OPTIMUMBANK, 10197 CLEARY BOULEVARD, PLANTATION FL 33324
Wendy Mitchler director OPTIMUMBANK, 2477 EAST COMMERCIAL BOULEVARD, FORT LAUDERDALE FL 33308
Howard Zusman officer: Sr. VP-CLO, OptimumBank 2477 EAST COMMERCIAL BLVD, FORT LAUDERDALE FL 33308
Robert Acri director 2477 E. COMMERCIAL BOULEVARD, FORT LAUDERDALE FL 33308
David Krinsky director OPTIMUMBANK, 10197 CLEARY BOULEVARD, PLANTATION FL 33324
Albert J Finch director, officer: Chairman of the Board, CEO OPTIMUMBANK, 10197 CLEARY BOULEVARD, PLANTATION FL 33324
Richard L Browdy director, officer: President, CFO OPTIMUMBANK, 10197 CLEARY BOULEVARD, PLANTATION FL 33324
Irving P Cohen director OPTIMUMBANK, 10197 CLEARY BOULEVARD, PLANTATION FL 33324

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