Chesapeake Financial Shares Announces Record Earnings and Declares Dividend

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A “Top 200 Community Bank” in the United States for the fourteenth consecutive year

KILMARNOCK, VA/ACCESSWIRE/January 24, 2022/ On behalf of Chesapeake Financial Shares, Inc. (parent company of Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman and CEO, reported record calendar year 2021 earnings of $15,009 $514, an increase of 27.7% over 2020. earnings. Reported earnings per share were $3,105 fully diluted compared to $2,395 in 2020. Chesapeake Financial Shares ended the year December 31, 2021 with total assets of $1,385,816,175, an increase of 15.0% compared to the end of 2020. Non-performing assets were 0.490% at December 31, 2021 compared to 1.034% at December 31, 2020, a decrease of 52.6%.

“Our year of record earnings was fueled by a variety of sources, primarily Paycheck Protection Program fees, an incredibly strong mortgage market and solid balance sheet growth. In addition to our strong earnings, American banker named us one of the “Top 200 Community Banks” in the United States for the fourteenth consecutive year and one of the “Best Banks to Work For” for the ninth consecutive year,” commented Szyperski. “We have been committed community partners throughout this pandemic and our communities have, in turn, supported us. »

At the Chesapeake Financial Shares board meeting on January 21, 2022, the board declared a quarterly dividend of $0.14 per share effective March 1, 2022, payable no later than March 15, 2022. The company has increased its dividend for 29 consecutive years. The stock currently has a dividend yield of 1.90%.

For more information on Chesapeake Financial Shares (OTCQX:CPKF) stock, or to receive daily email alerts on our stock price, visit www.chesapeakefinancialshares.com. To receive investor news about us, visit our page on Proactive Investors (https://www.proactiveinvestors.com). The company is tracked by Zacks Investment Research, and a copy of their report is also available on this site or at www.zacks.com. Chesapeake Financial Shares is an over-the-counter, publicly traded stock. “Like” Chesapeake Bank on Facebook and follow us on LinkedIn, Twitter and Instagram.

CONTACT:
Jeffrey M. Szypersky
804-435-4249
1-800-434-1181

THE SOURCE: Chesapeake Financial Shares, Inc.

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https://www.accesswire.com/685242/Chesapeake-Financial-Shares-Reports-Record-Earnings-and-Declares-Dividend

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