OptimumBank Shares Surge, Awaiting Restated Earnings

OptimumBank Holdings, Inc., (Nasdaq: OPHC) shares are up nearly 22% today, to $2.498. Speculators may believe its earnings, that the company announced would be restated, will be revised higher.

The company, a holding company for OptimumBank, announced last week that it is restating its earnings for the quarterly and year-to-date periods ended June 30, 2009 and September 30, 2009. It was expected to make the restated earnings announcement by yesterday.