“Top 200 Community Bank” in the United States for the fourteenth consecutive year
KILMARNOCK, VA / ACCESSWIRE / October 19, 2021 / On behalf of Chesapeake Financial Shares, Inc. (parent company of Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman and CEO, announced third quarter 2021 earnings of $ 3,771,100 , an increase of 11.5% over the third quarter of 2020. Reported earnings per share were $ 0.778 fully diluted, compared to $ 0.692 fully diluted for the third quarter of 2020. Total assets ended on quarter to $ 1,328,771,210, an increase of 10.3% from September 30, 2020.
“We’ve had a great 2021 so far,” Szyperski said. “Non-performing assets represented 0.766% of total gross loans as of September 30, 2021 versus 0.868% as of September 30, 2020.“ We have been closely reviewing our loan portfolio since March 2020 and are closely monitoring the effect the pandemic has had on our customers. Our ready customers overcame all challenges well. “
Earlier this year, Chesapeake Bank was recognized for the fourteenth consecutive year by American banker magazine as one of the country’s “200 Best Community Banks” based on a three-year average return on equity. “We are rooted in the communities we serve – this is one of the keys to our success. The interconnection that our organization feels with the community is the engine of our mission,” commented Szyperski.
At their meeting on October 14, 2021, the board of directors of Chesapeake Financial Shares declared a dividend of $ 0.14 per share, payable on or around December 15, 2021, to shareholders of record on December 1, 2021. “We believe that this is a very important dividend. taking into account the current market price of our shares, which translates into a dividend yield of approximately 1.89% on the current share price.
For more information on Chesapeake Financial Shares (CPKF), or to receive daily email alerts on our stock price, see www.chesapeakefinancialshares.com. The company is tracked by Zacks Investment Research, and a copy of their report can also be found on this site or at www.zacks.com. Chesapeake Financial Shares is a publicly traded share. “Like” Chesapeake Bank on Facebook and follow us on LinkedIn, Twitter and Instagram.
Jeffrey M. Szyperski
THE SOURCE: Chesapeake Financial Shares, Inc.
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