Arizona Tribune - Chesapeake Financial Shares Reports Earnings and Declares Dividend

KILMARNOCK, VA / ACCESS Newswire / January 21, 2025 / On behalf of Chesapeake Financial Shares, Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board and CEO, reported earnings for calendar year 2024 of $11,427,860 representing a 12.9% increase over 2023 earnings. The reported earnings per share were $2.422 fully diluted as compared to $2.151 in 2023. Chesapeake Financial Shares ended the year December 31, 2024 with total assets of $1,524,646,193, a 3.96% increase over year-end 2023. Nonperforming assets were 0.328% as of December 31, 2024 compared to 0.255% at December 31, 2023.

"2024 was a welcomed year of relative interest rate stability and solid deposit growth. Our lending, both from a volume as well as a rate perspective, showed consistent strength throughout the year despite higher rates. Additionally, Chesapeake Payment Systems, Flexent and Chesapeake Wealth Management all posted solid net income increases," said Szyperski.

"Additionally, American Banker named us one of the 'Top Performing Community Banks' in the United States for the seventeenth consecutive year and one of the 'Best Banks to Work For' for the twelfth consecutive year. These awards are evidence of our consistently strong earnings and commitment to our employees," commented Szyperski.

At the January 17, 2025 Chesapeake Financial Shares Board of Directors meeting, the Board declared a quarterly dividend of $0.16 per share effective March 1, 2025, payable on or before March 15, 2025. The company has increased its dividend for 32 consecutive years. The stock currently has a 3.47% 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. For a copy of the company's financial statements, please click here. 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. Follow Chesapeake Bank on Facebook, Instagram, Threads, X, LinkedIn, and YouTube.

Contact: Jeffrey M. Szyperski 1-800-434-1181

SOURCE: Chesapeake Financial Shares Inc.

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M.King--AT