Chesapeake Financial Shares reports third quarter earnings

On behalf of Chesapeake Financial Shares Inc., parent company of both Chesapeake Bank and Chesapeake Wealth Management, board chairman and chief executive officer Jeffrey M. Szyperski reported earnings for the third quarter of 2019 of $3,228,360, a 1.5% increase over the third quarter of 2018.

The reported earnings per share were $0.649 fully diluted compared to $0.639 fully diluted for the third quarter of 2018. Total assets ended the quarter at $943,694,660, a 10.4% increase over year-end.

“We have had a strong 2019 thus far,” said Szyperski. “At September 30 we have net income of $9,482,655 representing a 5.8% increase over the first nine months of 2018. Coming off of a record year in 2018, we are very pleased to be…