On behalf of Chesapeake Financial Shares Inc., parent company of both Chesapeake Bank and Chesapeake Wealth Management, Jeffrey M. Szyperski, chairman of the board and chief executive officer, recently reported earnings for the third quarter of 2023 of $2,477,896, a 58% decrease from the third quarter of 2022.
The third quarter of 2022 did include a non-recurring pre-tax gain of $2.2 million resulting from the sale of a partial interest in an investment brokerage firm. The reported earnings per share were $0.526 fully diluted compared to $1.261 fully diluted for the third quarter of 2022. Total assets ended the quarter at $1,382,205,095, up slightly from year-end.
“Asset quality remains extremely good,” said Szyperski. “Nonperforming assets were….
