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 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.
Chesapeake Financial Shares reported a strong Q3 2022 performance with earnings of $5,947,059, marking a 57.7% increase year-over-year. This includes a $2.2 million one-time gain from an investment sale. EPS reached $1.261, up from $0.778 in Q3 2021. Total assets are at $1.33 billion, with nonperforming assets reduced to 0.432%. Loans increased by $19.16 million to $724.05 million. A quarterly dividend of $0.150 per share was declared, maintaining a 2.63% yield.
Chesapeake Financial Shares reports a solid second quarter for 2022 with earnings of $4,063,623, a 2.4% year-over-year increase. Excluding nonrecurring PPP fees, the growth is 23%. Earnings per share increased to $0.861 from $0.818. Total assets as of June 30, 2022, stood at $1.34 billion, with nonperforming assets down to 0.460%. A quarterly dividend of $0.150 was declared, marking a 7.1% increase and continuing a 29-year trend of dividend growth, with a current yield of 2.24%.
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Chesapeake Financial Shares, Inc. reported first-quarter 2022 earnings of $4,273,458, an 18.8% decrease from Q1 2021. Adjusting for Paycheck Protection Program fees, this is a 13.6% increase year-over-year. Earnings per share were $0.902, down from $1.085 in Q1 2021. Total assets at quarter-end stood at $1.346 billion. Despite the decrease, asset quality improved with nonperforming assets dropping to 0.457%. The Board declared a quarterly dividend of $0.140, effective June 1, 2022, maintaining a 1.92% yield.
Chesapeake Financial Shares reported record earnings of $15,009,514 for 2021, a 27.7% increase from 2020. Earnings per share rose to $3.105 compared to $2.395 the previous year. Total assets grew by 15.0% to $1,385,816,175, while nonperforming assets decreased by 52.6% to 0.490%. The Board declared a quarterly dividend of $0.14, with a 1.90% yield, marking 29 years of consistent increases. Chesapeake was also recognized as a top community bank for the fourteenth year in a row.
Chesapeake Financial Shares announced third-quarter earnings of $3,771,100, marking an 11.5% increase year-over-year. The earnings per share rose to $0.778 from $0.692 in Q3 2020. Total assets increased by 10.3% to $1.33 billion. Nonperforming assets improved, dropping to 0.766% of gross loans. The company declared a dividend of $0.14 per share, resulting in an approximate 1.89% dividend yield based on current prices. Chesapeake Bank was recognized as a “Top 200 Community Bank” for the fourteenth consecutive year.
Chesapeake Financial Shares reported third-quarter 2020 earnings of $3.38 million, a 4.8% increase compared to 2019, with earnings per share at $0.692. Total assets reached $1.17 billion, up 24.2% year-on-year.
Despite a 7.2% decrease in year-to-date net income of $8.80 million, the bank's net interest income grew 10.2% and other income surged 66.1% due to robust mortgage loan origination. A dividend of $0.125 per share was declared, representing a 2.46% yield.