A "Top Performing" community bank" in the U.S. for the seventeenth consecutive year

KILMARNOCK, VA / ACCESSWIRE / October 22, 2024 / On behalf of Chesapeake Financial Shares, Inc. (OTCQX:CPKF)(parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board and CEO, reported earnings for the third quarter of 2024 of $2,600,159, 5% higher than the third quarter of 2023. The reported earnings per share were $0.550 fully diluted as compared to $0.526 for the third quarter of 2023. Total assets ended the quarter at $1,589,344,001, up $118,297,206 or 8% from year-end. Nonperforming assets were 0.421% as of September 30, 2024 compared to 0.376% for the third quarter of 2023.

"The leveling off and slight decrease in interest rates has helped stabilize our net interest margin. Our lending remains above peer with an 8.1% annualized increase year-to-date in 2024. Both Chesapeake Payment Systems and Flexent continue to have strong years," added Szyperski.

At the October 18, 2024 Chesapeake Financial Shares Board of Directors meeting, the Board increased the quarterly dividend $0.05 to $0.16 per share effective December 1, 2024, payable on or before December 15, 2024. The company has increased its dividend for 32 consecutive years. The stock currently has a 3.26% dividend yield and is trading at a 9.79 price/earnings ratio.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see https://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.

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

SOURCE: Chesapeake Financial Shares Inc.