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Chesapeake Financial Shares reports first quarter earnings

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, reported earnings for the first quarter of 2023 of $3,694,765, a 13.5% decrease from the first quarter of 2022.

The reported earnings per share were $0.780 fully diluted compared to $0.902 fully diluted for the first quarter of 2022. Total assets ended the quarter at $1,331,356,695, up slightly from year-end.

“Asset quality remains extremely good,” said Szyperski. “Nonperforming assets were….

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Rappahannock Record Staff
Rappahannock Record Staffhttp://www.rrecord.com
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