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Chesapeake Financial Shares Reports First Quarter Earnings and Declares Dividend

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Chesapeake Financial Shares, Inc. (CPKF) reports a significant increase in earnings for the first quarter of 2024, with reported earnings of $2,749,988, a 303.9% rise from the previous quarter. Earnings per share were $0.583 fully diluted, compared to $0.192 in the fourth quarter of 2023. Total assets reached $1,511,866,477, showing a $40.8 million increase from the year-end. Nonperforming assets decreased to 0.187% as of March 31, 2024. The company attributes its success to the performance of Chesapeake Payment Systems and Flexent, along with a 15.2% annualized net loan growth in the first quarter. The Board of Directors declared a quarterly dividend of $0.155 per share, marking the 31st consecutive year of dividend increases, with a current dividend yield of 3.76%.
Chesapeake Financial Shares, Inc. (CPKF) ha riportato un significativo aumento degli utili per il primo trimestre del 2024, con utili dichiarati di $2,749,988, un incremento del 303.9% rispetto al trimestre precedente. L'utile per azione è stato di $0.583, completamente diluito, rispetto a $0.192 nel quarto trimestre del 2023. Gli asset totali hanno raggiunto $1,511,866,477, mostrando un aumento di $40.8 milioni da fine anno. Gli asset non performanti sono diminuiti allo 0.187% al 31 marzo 2024. La società attribuisce il suo successo alle prestazioni di Chesapeake Payment Systems e Flexent, insieme a una crescita netta annuale dei prestiti del 15.2% nel primo trimestre. Il Consiglio di Amministrazione ha dichiarato un dividendo trimestrale di $0.155 per azione, segnando il 31° anno consecutivo di aumento dei dividendi, con un rendimento attuale del dividendo del 3.76%.
Chesapeake Financial Shares, Inc. (CPKF) reporta un aumento significativo en las ganancias para el primer trimestre de 2024, con ganancias reportadas de $2,749,988, un aumento del 303.9% en comparación con el trimestre anterior. Las ganancias por acción fueron de $0.583 completamente diluidas, en comparación con $0.192 en el cuarto trimestre de 2023. Los activos totales alcanzaron los $1,511,866,477, mostrando un aumento de $40.8 millones desde finales del año. Los activos no productivos disminuyeron a 0.187% al 31 de marzo de 2024. La compañía atribuye su éxito al desempeño de Chesapeake Payment Systems y Flexent, junto con un crecimiento neto anualizado de préstamos del 15.2% en el primer trimestre. El Consejo de Directores declaró un dividendo trimestral de $0.155 por acción, marcando el 31º año consecutivo de incrementos en el dividendo, con un rendimiento actual del dividendo del 3.76%.
Chesapeake Financial Shares, Inc. (CPKF)는 2024년 첫 분기에 이익이 크게 증가했다고 보고했습니다. 보고된 이익은 $2,749,988로, 전 분기 대비 303.9% 증가했습니다. 주당 이익은 완전 희석 기준으로 $0.583이었으며, 2023년 4분기에는 $0.192였습니다. 총 자산은 $1,511,866,477에 달해 연말 대비 $40.8백만 증가했습니다. 부실 자산은 2024년 3월 31일 현재 0.187%로 감소했습니다. 회사는 이러한 성공을 Chesapeake Payment Systems와 Flexent의 성과, 그리고 첫 분기에 15.2%의 연간화 순 대출 성장에 기인한다고 밝혔습니다. 이사회는 주당 $0.155의 분기 배당을 선언했으며, 이는 연속 31년 동안 배당금이 증가했다는 것을 의미합니다. 현재 배당 수익률은 3.76%입니다.
Chesapeake Financial Shares, Inc. (CPKF) annonce une augmentation significative de ses bénéfices pour le premier trimestre 2024, avec des bénéfices rapportés de $2,749,988, une hausse de 303.9% par rapport au trimestre précédent. Le bénéfice par action était de $0.583, entièrement dilué, comparé à $0.192 au quatrième trimestre de 2023. Les actifs totaux ont atteint $1,511,866,477, enregistrant une augmentation de $40,8 millions par rapport à la fin de l'année. Les actifs non performants ont diminué à 0.187% au 31 mars 2024. La société attribue son succès aux performances de Chesapeake Payment Systems et Flexent, ainsi qu'à une croissance nette annuelle des prêts de 15.2% au premier trimestre. Le conseil d'administration a déclaré un dividende trimestriel de $0.155 par action, marquant la 31e année consécutive d'augmentation des dividendes, avec un rendement actuel de 3.76%.
Chesapeake Financial Shares, Inc. (CPKF) berichtet über einen signifikanten Anstieg der Erträge für das erste Quartal 2024, mit ausgewiesenen Erträgen von $2,749,988, ein Anstieg um 303.9% gegenüber dem vorherigen Quartal. Der Gewinn pro Aktie betrug $0.583, vollständig verdünnt, verglichen mit $0.192 im vierten Quartal 2023. Die Gesamtaktiva erreichten $1,511,866,477, was einem Anstieg von $40.8 Millionen gegenüber dem Jahresende entspricht. Nicht leistungsfähige Aktiva verringerten sich auf 0.187% per 31. März 2024. Das Unternehmen führt seinen Erfolg auf die Leistung von Chesapeake Payment Systems und Flexent sowie auf ein jährliches Netto-Kreditwachstum von 15.2% im ersten Quartal zurück. Der Vorstand hat eine Quartalsdividende von $0.155 pro Aktie beschlossen, was das 31. Jahr in Folge mit Dividendensteigerungen markiert, mit einer aktuellen Dividendenrendite von 3.76%.
Positive
  • Significant increase in earnings for the first quarter of 2024.
  • Reported earnings of $2,749,988, a 303.9% rise from the previous quarter.
  • Earnings per share were $0.583 fully diluted, compared to $0.192 in the fourth quarter of 2023.
  • Total assets reached $1,511,866,477, showing a $40.8 million increase from the year-end.
  • Nonperforming assets decreased to 0.187% as of March 31, 2024.
  • Attribution of success to Chesapeake Payment Systems and Flexent performance, along with a 15.2% annualized net loan growth in the first quarter.
  • Board of Directors declared a quarterly dividend of $0.155 per share, marking the 31st consecutive year of dividend increases.
  • Current dividend yield of 3.76%.
Negative
  • None.

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

KILMARNOCK, VA / ACCESSWIRE / April 23, 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 first quarter of 2024 of $2,749,988, a 303.9% increase from the fourth quarter of 2023. The reported earnings per share were $0.583 fully diluted as compared to $0.192 for the fourth quarter of 2023. Total assets ended the quarter at $1,511,866,477, up $40.8 million from year-end. Nonperforming assets were 0.187% as of March 31, 2024 compared to 0.255% for the fourth quarter of 2023.

"Our specialty lines of business, Chesapeake Payment Systems and Flexent, continue to provide solid noninterest income strength to our earnings," Szyperski noted. "Coupled with 15.2% annualized net loan growth in the first quarter, we feel we have started 2024 on strong footing. The efforts we made in 2023 to strengthen our balance sheet and provide greater stability to our earnings are also now yielding benefits."

At the April 19, 2024 Chesapeake Financial Shares Board of Directors meeting, the Board declared a quarterly dividend of $0.155 per share effective June 1, 2024, payable on or before June 15, 2024. The company has increased its dividend for 31 consecutive years. The stock currently has a 3.76% 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
1-800-434-1181

SOURCE: Chesapeake Financial Shares Inc.



View the original press release on accesswire.com

FAQ

What were Chesapeake Financial Shares' earnings for the first quarter of 2024?

Chesapeake Financial Shares reported earnings of $2,749,988 for the first quarter of 2024, marking a 303.9% increase from the previous quarter.

What was the earnings per share for Chesapeake Financial Shares in the first quarter of 2024?

The earnings per share for Chesapeake Financial Shares in the first quarter of 2024 were $0.583 fully diluted.

What was the total assets amount for Chesapeake Financial Shares at the end of the first quarter of 2024?

Chesapeake Financial Shares' total assets at the end of the first quarter of 2024 were $1,511,866,477, showing a $40.8 million increase from the year-end.

What was the nonperforming assets percentage for Chesapeake Financial Shares as of March 31, 2024?

The nonperforming assets percentage for Chesapeake Financial Shares as of March 31, 2024, was 0.187%.

What led to the success of Chesapeake Financial Shares in the first quarter of 2024?

Chesapeake Financial Shares attributed its success to the performance of Chesapeake Payment Systems and Flexent, along with a 15.2% annualized net loan growth in the first quarter.

How much was the quarterly dividend declared by the Chesapeake Financial Shares Board of Directors?

The Chesapeake Financial Shares Board of Directors declared a quarterly dividend of $0.155 per share.

How many consecutive years has Chesapeake Financial Shares increased its dividend?

Chesapeake Financial Shares has increased its dividend for 31 consecutive years.

What is the current dividend yield for Chesapeake Financial Shares?

The current dividend yield for Chesapeake Financial Shares is 3.76%.

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CHESAPEAKE FINCL SHS INC

OTC:CPKF

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CPKF Latest News

Jan 23, 2024
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CPKF Stock Data

81.63M
4.07M
3.72%
Commercial Banking
Finance and Insurance
Link
United States of America
Kilmarnock

About CPKF

chesapeake financial shares, inc. operates as the bank holding company for chesapeake bank that provides various banking products and services for corporate and individual clients in virginia. it operates through commercial, commercial ■real estate, consumer ■non real estate, and residential ■real estate segments. the company accepts interest and noninterest checking, savings, and money market accounts, as well as certificates of deposit. it also offers mortgage loans, single-family residential and residential construction loans, lines of credit, and consumer loans; and commercial loans, including owner-occupied commercial development, retail, builders/contractors, medical, service and professional, hospitality, nonprofits, marine industry, and agricultural and seafood loans. in addition, the company provides merchant processing services, accounts receivable financing, wealth management and trust, and cash management services. it operates through 15 branches, including 4 in north