Chesapeake Financial Shares Holds 124th Anniversary Shareholders Meeting

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Chesapeake Financial Shares held its 124th Annual Shareholders Meeting on April 4, 2025, at Rappahannock Westminster-Canterbury in Irvington, Virginia. The company reported a 12.9% increase in earnings for 2024 compared to 2023.

Chairman, President & CEO Jeffrey M. Szyperski discussed banking industry trends, including M&A activity, new technology, and changing consumer behavior. A significant announcement involved the company's strategic decision to incur an $8 million loss in Q1 2025 to reposition $75 million of investments into higher yields, aimed at enhancing long-term shareholder value.

Despite this planned loss, Szyperski assured that the company will remain profitable and well-capitalized throughout 2025. The meeting concluded with a 125th Anniversary reception for shareholders and employees.

KILMARNOCK, VA / ACCESS Newswire / April 9, 2025 / Chesapeake Financial Shares, Inc., holding company of Chesapeake Bank and Chesapeake Wealth Management, held their 124^th Anniversary Annual Shareholders Meeting on Friday, April 4, at Rappahannock Westminster-Canterbury in Irvington, Virginia. The company reported earnings for 2024 at a 12.9% increase over 2023 earnings.

Along with the numbers, Jeffrey M. Szyperski, Chairman, President & CEO, presented banking industry trends and insights. "We like to share with our shareholders what is happening in the industry so they have a good perspective on our performance and path going forward," commented Szyperski. "A lot is happening in banking including merger and acquisition activity, new technology, and changing consumer behavior. It's important for our shareholders to know how we are approaching these trends and how we are preparing ourselves for the future."

Szyperski also spoke about how much Chesapeake gives to its local communities in both monetary contributions and employee volunteerism. Additionally, he outlined Chesapeake's strategy and the importance of staying relevant in order to thrive for the next 125 years. As part of the strategy to enhance long-term shareholder value, Szyperski discussed the company incurring an $8 million loss in the first quarter expressly done to reposition $75 million of investments into significantly higher yields. "This decision was made as a proactive move on our part to enhance long-term shareholder value," said Szyperski. "The company will remain profitable for 2025 as well as well capitalized." To learn more visit Chesapeake's website at chesapeakefinancialshares.com.

The meeting concluded with a festive 125^th Anniversary reception for shareholders and company employees in attendance.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see www.chesapeakefinancialshares.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. Follow Chesapeake Bank on Facebook, Instagram, Threads, X, LinkedIn, and YouTube.

Contact: Jeffrey M. Szyperski
jszyperski@ches.bank
804-435-1181; 1-800-434-1181

SOURCE: Chesapeake Financial Shares Inc.

View the original press release on ACCESS Newswire

FAQ

What was Chesapeake Financial Shares (CPKF) earnings performance in 2024?

Chesapeake Financial Shares reported a 12.9% increase in earnings for 2024 compared to 2023.

Why did CPKF take an $8 million loss in Q1 2025?

The company strategically chose to take an $8 million loss to reposition $75 million of investments into significantly higher yields, aiming to enhance long-term shareholder value.

Will CPKF remain profitable in 2025 despite the Q1 loss?

Yes, according to CEO Szyperski, the company will remain profitable and well-capitalized throughout 2025 despite the planned Q1 loss.

What key industry trends did CPKF discuss at its 2025 shareholder meeting?

The meeting covered merger and acquisition activity, new technology developments, and changing consumer behavior in the banking industry.

When and where was CPKF's 124th Annual Shareholders Meeting held?

The meeting was held on April 4, 2025, at Rappahannock Westminster-Canterbury in Irvington, Virginia.