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) is a one-bank holding company for Chesapeake Bank and Chesapeake Wealth Management, Inc., operating in the commercial banking segment of the finance and insurance sector. Its stock trades on the OTCQX market, and the company regularly issues detailed earnings and dividend announcements, making CPKF a frequent subject of financial news.
News about Chesapeake Financial Shares often centers on quarterly and annual financial results, including commentary on total assets, nonperforming assets, and net interest margin. The company’s releases also describe strategic actions such as issuing subordinated debt, repositioning portions of the investment securities portfolio into higher-yield securities, and initiatives related to stock repurchase programs, as reported in its own communications.
Investors following CPKF news can also expect updates on the performance of its specialty business lines: Chesapeake Payment Systems, Flexent, and Chesapeake Wealth Management. The company highlights these areas in its earnings discussions, noting their contribution to net income and their role in its broader community banking and financial services activities.
In addition to financial results, Chesapeake Financial Shares and Chesapeake Bank issue news on corporate governance and leadership, such as appointments to the holding company and bank boards of directors, and on operational developments like the establishment of an in-house Fraud Prevention department. The bank also reports recognition from American Banker, including rankings among "Top 100 Community Banks" and "Best Banks to Work For," and mentions awards such as the AARP BankSafe Trained Seal.
For readers monitoring CPKF, this news stream provides insight into the company’s earnings trends, dividend decisions, specialty lines of business, governance changes, and community banking initiatives.
Chesapeake Financial Shares has appointed Dede Ramoneda to its Board of Directors. Ramoneda brings extensive experience across financial services, energy, and consulting sectors. At First Citizens Bank, she played a important role in the acquisitions of CIT and Silicon Valley Bank, leading IT integration efforts. Her expertise in digital transformation, risk mitigation, and IT strategy is particularly valuable as the banking industry becomes increasingly technology-dependent.
Ramoneda's accomplishments include recognition through Computerworld's Best Places to Work in IT (2023), Orbie Award: Carolina Enterprise CIO of the Year (2022), and Triangle Business Journal's CIO of the Year (2014). She has served on multiple boards, including ScanSource, NCTech, and Progress Telecom Access Networks. She holds a BS in Industrial Management from LSU, an MBA from Rollins College, and completed Executive Education at The Wharton School.
Chesapeake Financial Shares (OTCQX:CPKF) reported third quarter 2024 earnings of $2,600,159, a 5% increase from Q3 2023. Earnings per share were $0.550 fully diluted, up from $0.526 in Q3 2023. Total assets reached $1,589,344,001, an 8% increase from year-end. Nonperforming assets were 0.421% as of September 30, 2024.
The company's lending grew 8.1% annualized year-to-date in 2024. The Board of Directors increased the quarterly dividend by $0.05 to $0.16 per share, effective December 1, 2024. This marks the 32nd consecutive year of dividend increases. The stock currently has a 3.26% dividend yield and trades at a 9.79 price/earnings ratio.
Chesapeake Financial Shares has been recognized as a "Top Performing" community bank in the U.S. for the seventeenth consecutive year.
Chesapeake Bank (OTCQX:CPKF) has appointed Ron Andrews to its Board of Directors. Andrews, a seasoned bank operations leader with 37 years of experience in the United States and the United Kingdom, has been serving on Chesapeake Bank's Technology Advisory Board since 2016. He is also an Executive Partner at the Mason School of Business, College of William and Mary.
Jeff Szyperski, CEO of Chesapeake Financial Shares and Chesapeake Bank, expressed enthusiasm about Andrews' addition, citing his deep industry knowledge and expertise as valuable assets for the bank's future. Andrews' career highlights include 22 years at Signet Bank/Capital One, where he led fraud prevention operations and oversaw the internet bank, growing deposits by $20 billion. He later served as Managing Director at Citibank, leading Global Fraud Operations for Consumer and Small Business Banks across 16 countries.
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.
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