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KILMARNOCK, VA/ACCESSWIRE/April 19, 2022/ On behalf of Chesapeake Financial Shares, Inc. (parent company of Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman and Chief Executive Officer, reported earnings for the first quarter of 2022 of $4,273,458, a decrease of 18.8% compared to the first quarter of 2021. Adjusted for the Paycheck Protection Program fee taken in the first quarter of 2021, this represents an increase of 13.6% compared to compared to the first quarter of last year. Reported earnings per share were $0.902 fully diluted, compared to $1.085 fully diluted for the first quarter of 2021. Total assets ended the quarter at $1,346,135,792.
“Asset quality remains extremely good, especially as we slowly emerge from the pandemic and associated shutdowns,” Szyperski said. Non-performing assets amounted to 0.457% as of March 31, 2022, compared to 1.026% as of March 31, 2021. a strong and constant flow but at a lower level than in 2021. The net interest margin was 3.53% for the quarter ended March 31, 2022.”
At the April 15, 2022 Chesapeake Financial Shares board meeting, the board declared a quarterly dividend of $0.140 per share effective June 1, 2022, payable no later than June 15, 2022. Currently, the stock has a dividend yield of 1.92%. The company has had 29 consecutive years of dividend increases.
For more information on Chesapeake Financial Shares (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.
Jeffrey M. Szypersky
THE SOURCE: Chesapeake Financial Shares, Inc.
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