Sign In  |  Register  |  About Pleasanton  |  Contact Us

Pleasanton, CA
September 01, 2020 1:32pm
7-Day Forecast | Traffic
  • Search Hotels in Pleasanton

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Chesapeake Financial Shares Reports Second Quarter Earnings

A "Top 200 Community Bank" in the U.S. for the fifteenth consecutive year

KILMARNOCK, VA / ACCESSWIRE / July 19, 2022 / On behalf of Chesapeake Financial Shares, Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for the second quarter of 2022 of $4,063,623. This represents a 2.4% increase over the second quarter of last year. The second quarter of last year also included $660,000 of nonrecurring Paycheck Protection Program fees making the year-over-year increase 23% excluding these. The reported earnings per share were $0.861 fully diluted compared to $0.818 fully diluted for the second quarter of 2021. Total assets ended the quarter at $1,342,049,192.

"Asset quality is as strong as it has ever been as we proceed into potentially tumultuous times," said Szyperski. Nonperforming assets were at 0.460% on June 30, 2022 compared to 0.815% on June 30, 2021. "Specialty lines of business have continued their recovery through the second quarter, and it is anticipated they will continue this same trend. Mortgage originations still have a strong, consistent flow though at a lower level than 2021. We anticipate this slowing in the second half of 2022. The net interest margin was 3.74% for the quarter ended June 30, 2022."

At the July 15, 2022 Chesapeake Financial Shares Board of Directors meeting, the Board declared a quarterly dividend of $0.150 per share effective September 1, 2022, payable on or before September 15, 2022. This represents a 7.1% increase over the prior quarter and furthers the 29-year history of consecutive dividend increases. Currently the stock has a 2.24% dividend yield.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see www.chesapeakefinancialshares.com. To receive investor news updates about us visit our page on Proactive Investors (https://www.proactiveinvestors.com). The company is followed 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 an over-the-counter, publicly traded stock. "Like" Chesapeake Bank on Facebook and follow us on LinkedIn, Twitter, and Instagram.

Contact: Jeffrey M. Szyperski - 804-435-4249; 1-800-434-1181

SOURCE: Chesapeake Financial Shares, Inc.



View source version on accesswire.com:
https://www.accesswire.com/709039/Chesapeake-Financial-Shares-Reports-Second-Quarter-Earnings

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photography by Christophe Tomatis
Copyright © 2010-2020 Pleasanton.com & California Media Partners, LLC. All rights reserved.