Welcome to our dedicated page for Chesapeake Finl news (Ticker: CPKF), a resource for investors and traders seeking the latest updates and insights on Chesapeake Finl stock.
Chesapeake Financial Shares, Inc. (CPKF) delivers community-focused banking services through Chesapeake Bank and specialized divisions serving businesses nationwide. This news hub provides investors and stakeholders with essential updates about financial performance, strategic partnerships, and service innovations.
Access official press releases covering quarterly results, leadership changes, technology implementations like the Silverflow partnership, and recognition achievements. The curated collection includes updates across core operations:
• Financial Reporting: Earnings announcements and dividend declarations
• Strategic Initiatives: Expansion of payment processing capabilities
• Industry Recognition: Community banking awards and workplace accolades
• Service Developments: New lending programs and wealth management solutions
Bookmark this page for direct access to CPKF's verified financial communications. Check regularly for updates reflecting the company's commitment to combining traditional community banking values with modern financial technology solutions.
Silverflow, a cloud-native payment processing company, has partnered with Chesapeake Bank to bring advanced payment processing solutions to more US customers. This collaboration will enable Chesapeake Bank's ISO clients to access a modern, high-performance payment processing platform through its division, Chesapeake Payment Systems.
The partnership leverages Silverflow's state-of-the-art processing platform, enhancing Chesapeake Bank's service offerings and positioning it as an early adopter of new technology. TRX Services, an ISO partner, will handle the integration, ensuring a seamless transition for existing BIN sponsorship services.
Key benefits of the partnership include a modern processing solution, enhanced ISO services, and a shared vision for innovation and client service. This collaboration marks another milestone for Silverflow, following recent announcements about its Supervisory Board appointments.
Chesapeake Financial Shares (OTCQX:CPKF) reported second quarter 2024 earnings of $3,036,512, consistent with Q2 2023. Earnings per share were $0.646 fully diluted, compared to $0.648 in Q2 2023. Total assets increased by $62 million to $1,533,102,804. Nonperforming assets improved to 0.237% from 0.327% year-over-year.
The company declared a quarterly dividend of $0.155 per share, payable September 15, 2024, marking its 31st consecutive year of dividend increases. The stock currently yields 3.54%. Chesapeake Financial Shares was included in American Banker magazine's 'Top 100 Community Banks' for the 17th consecutive year, based on return on equity.
Chesapeake Financial Shares reported first-quarter earnings of $3,694,765 for 2023, reflecting a 13.5% decrease from the previous year.
The earnings per share (EPS) were $0.780, down from $0.902 in Q1 2022. Total assets increased slightly to $1.33 billion. The company reported a nonperforming asset ratio of 0.535% and a net loan growth of 10.4%, totaling $744.8 million. The net interest margin rose to 3.58% compared to last year's 3.53%. The board declared a quarterly dividend of $0.15 per share, resulting in a dividend yield of 2.81%. Chesapeake Financial has maintained 30 consecutive years of dividend increases.
Chesapeake Bank has launched a new Digital Debit Card that allows customers to create virtual cards via online and mobile banking for quick online purchases. This innovation, developed in partnership with Trabian, Q2, and Jack Henry, aims at enhancing customer access to debit cards upon account opening or replacement. The new card features multiple customizable options for added security, supporting immediate card activation and deactivation. Chief Innovation Officer D.J. Seeterlin highlighted that this product underscores Chesapeake's commitment to innovation and its ability to rapidly develop new solutions. The Digital Debit Card will also serve as a template for other banks' implementations.
Chesapeake Financial Shares reported record earnings of $17,628,587 for 2022, a 17.4% increase from 2021, with earnings per share of $3.73 compared to $3.11 in the previous year. The company has maintained a strong net interest margin of 3.93% and realized a one-time gain of $1.7 million from a brokerage sale. Total assets decreased by 4.1% to approximately $1.33 billion, while nonperforming assets rose slightly to 0.541%. The Board declared a quarterly dividend of $0.15 per share, reflecting 30 consecutive years of dividend increases. Chesapeake was recognized as one of the 'Top 200 Community Banks' for the fifteenth consecutive year.
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