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. reports results as the holding company for Chesapeake Bank and Chesapeake Wealth Management. Company news centers on community banking earnings, loan and deposit trends, asset quality, net interest margin, investment-portfolio positioning, subordinated debt, dividends, and board actions.
Recurring updates also describe Chesapeake Bank's full-service lending and deposit operations, its regional branch network in Virginia communities, and specialty lines including Chesapeake Payment Systems, Flexent, and Chesapeake Wealth Management's brokerage, trust, and estate management services.
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.