Chesapeake Financial Shares announces strong earnings

Jeffrey M. Szyperski, Chesapeake Financial Shares Inc. chairman of the board & chief executive officer, recently reported earnings for the third quarter of 2017 of $2,515,265, a 41% increase over the third quarter of 2016.

Year-to-date net income was $7,113,016, representing a 26% increase over the third quarter of 2016. The reported quarterly earnings per share were $0.608 fully diluted compared to $0.433 fully diluted for the third quarter of 2016.

The year-to-date fully diluted earnings per share were $1.723 as compared to $1.375 for the first nine months of 2016. Total assets ended the quarter at $784,143,394 as compared to $720,760,780 at year-end.

“We remain in the top tier of all community banks in the country and are optimistic about the fourth quarter of 2017 with our high asset quality and fee income lines of business,” said Szyperski. “

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