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Company Unconsolidated Financial Information | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Company Unconsolidated Financial Information | (17) Company Unconsolidated Financial Information The Company’s unconsolidated financial information as of December 31, 2023 and 2022 and for the years then ended follows (in thousands): Condensed Balance Sheets Schedule of Condensed Balance Sheet
|  | 2023 |  |  | 2022 |
|  | Condensed Balance Sheets |
|  | At December 31, |
|  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |
Cash |  | $ | 825 |  |  | $ | 602 |
Investment in subsidiary |  |  | 69,549 |  |  |  | 60,464 |
Other assets |  |  | 206 |  |  |  | 2,149 |
Total assets |  | $ | 70,580 |  |  | $ | 63,215 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |
Other liabilities |  | $ | 573 |  |  | $ | 636 |
Stockholders’ equity |  |  | 70,007 |  |  |  | 62,579 |
Total liabilities and stockholders’ equity |  | $ | 70,580 |  |  | $ | 63,215 |
(continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements (17) Company Unconsolidated Financial Information Continued Condensed Statements of Earnings Schedule of Condensed Statements of Earnings
|  | 2023 |  |  | 2022 |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Income of subsidiary |  | $ | 7,253 |  |  | $ | 4,791 |
Other expense |  |  | (1,304 | ) |  |  | (1,029 | )
Income tax benefit |  |  | 333 |  |  |  | 261 |
Net earnings |  | $ | 6,283 |  |  | $ | 4,023 |
Condensed Statements of Cash Flows Schedule of Condensed Statements of Cash Flows
|  | 2023 |  |  | 2022 |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net earnings |  | $ | 6,283 |  |  | $ | 4,023 |
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |
Stock-based compensation |  |  | 490 |  |  |  | 372 |
Equity in undistributed income of subsidiary |  |  | (7,254 | ) |  |  | (4,792 | )
decrease (Increase) in other assets |  |  | 1,943 |  |  |  | (306 | )
(Decrease) in other liabilities |  |  | (63 | ) |  |  | 431 |
Net cash provided by (used in) operating activities |  |  | 1,399 |  |  |  | (272 | )
Cash flow from investing activities: |  |  |  |  |  |  |  |
Capital infusion to bank subsidiary |  |  | (1,500 | ) |  |  | (24,500 | )
Cash flow from financing activities: |  |  |  |  |  |  |  |
Proceeds from sale of preferred stock |  |  | — |  |  |  | 15,000 |
Proceeds from sale of common stock |  |  | 324 |  |  |  | 9,866 |
Cash provided by financing activities |  |  | 324 |  |  |  | 24,866 |
Net increase in cash |  |  | 223 |  |  |  | 94 |
Cash at beginning of the year |  |  | 602 |  |  |  | 508 |
Cash at end of year |  | $ | 825 |  |  | $ | 602 |
Noncash transactions: |  |  |  |  |  |  |  |
Change in accumulated other comprehensive loss of subsidiary, net change in unrealized loss on debt securities available for sale, net of income taxes |  | $ | 511 |  |  | $ | (5,191 | )
Reduction in investment in subsidiary due to adoption of ASC 326 |  | $ | 181 |  |  | $ | - |
(continued) OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY Notes to Consolidated Financial Statements

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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