Chesapeake Financial Shares reports first quarter earnings

On behalf of Chesapeake Financial Shares Inc., parent company of both Chesapeake Bank and Chesapeake Wealth Management, chairman of the board and chief executive officer Jeffrey M. Szyperski reported earnings for the first quarter of 2022 of $4,273,458.

The earnings represent an 18.8% decrease from the first quarter of 2021. Adjusted for Paycheck Protection Program fees taken in the first quarter of 2021, this represents a 13.6% increase over the first quarter of last year.

The reported earnings per share were $0.902 fully diluted compared to $1.085 fully diluted for the first quarter of 2021. Total assets ended the quarter at $1,346,135,792. 

“Asset quality remains extremely good especially as we….

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