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  • Optima Bank & Trust Announces 2017 Record Growth and Strong 2018 Forecast

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    June 05, 2018
    Optima Bank & Trust Announces 2017 Record Growth and Strong 2018 Forecast

    PORTSMOUTH, NH (May 25, 2018) – Optima Bank & Trust, the only locally-owned, commercial bank on the Seacoast, held the 2018 Annual Meeting of its shareholders recently at the Portsmouth Country Club. The bank’s president and CEO, Daniel Morrison, announced exceptional results for 2017 and a strong outlook for the year ahead.
    “I am pleased to report that 2017 was another exceptional year for Optima Bank & Trust Company,” said Morrison. “The Bank once again posted record growth and continues to be one of the fastest growing banks in the state of New Hampshire.”
    Morrison reported that total assets grew by a record $69 million to $496 million at December 31, 2017. In 2017, total loans grew by a record $78 million to $420 million, and total deposits grew by a record $66 million to $464 million. For 2017, net income was $1.9 million.
    Morrison reported that the outlook for 2018 is very positive, even better than 2017.
    “We’ve just completed the first quarter of 2018, and the Bank has continued to generate very strong results. During the first quarter, the Bank produced net income of $757 thousand, which is more than triple the $251 thousand net income for the same period in 2017,” said Morrison. “It was the Bank’s best first quarter ever, and it was our 34th consecutive profitable quarter.”
    The Bank’s total assets crossed the half-billion-dollar milestone during the period and ended the quarter at $502 million, up 15% from $438 million a year earlier.
    “In the last ten
    years we have invested more than a billion dollars here in New Hampshire. Investments in the form of loans to businesses to grow and expand and create jobs here in NH. And loans to individuals and families to buy and build homes here in NH,” said Morrison. “A billion dollars in loans in ten years is a very big number.”
    “In 2017 we built our newest branch, at 920 Central Ave. in Dover New Hampshire. The new branch opened in January 2018 and has already begun to be very successful. This full-service branch replaces the limited-service loan office that the Bank had been operating in Dover for several years. The new branch will allow the Bank to expand its presence and build more customer relationships by increasing its deposit product and service offerings in the Dover market. The Bank now has seven locations, including the corporate headquarters at Two Harbour Place, and six full-service branches,” said Morrison.    
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    Optima Bank 2017 Results

    Morrison praised his dedicated staff and stressed that their efforts to provide high-quality customer service to businesses and individuals throughout New Hampshire as key to the Bank’s success.
    “These people make me very proud,” Morrison said, “Everywhere I go, I run into customers who stop me and tell me stories about their latest experience with one of our managers, or private bankers or lenders, even our back-office loan servicing
    and operations staff. Our people are what make this successful. They’re the best bankers you can find anywhere. They’re smart, educated, experienced, and they are very hard workers.”
     

    According to FDIC data, Optima Bank & Trust has continued to gain more deposit market share in the seacoast region of New Hampshire than any other bank over the past ten years.  Optima Bank is reported as the only bank that has significantly grown its deposit market share in this area, gaining more market share than all the other banks combined.

    About Optima Bank & Trust: Founded in 2008, Optima Bank & Trust is an award-winning, locally-owned commercial bank headquartered in Portsmouth, New Hampshire. With seven locations, including six full-service branches and a corporate headquarters office, the Bank's focus is on providing exceptional service to commercial and personal customers for deposit products and business and residential lending. For more information, visit optimabank.com or call (603) 433-9600. Optima Bank & Trust can also be found on Facebook, Twitter and LinkedIn.
    Contact:
    Debbie Moore, Vice President, Branch Manager
    (603) 433-9610