Chesapeake Financial Shares reports third 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 third quarter of 2021 of $3,771,100, an 11.5% increase over the third quarter of 2020.

The reported earnings per share were $0.778 fully diluted compared to $0.692 fully diluted for the third quarter of 2020. Total assets ended the quarter at $1,328,771,210, a 10.3% increase over September 30, 2020. 

“We have had an excellent 2021 thus far,” said Szyperski. “Nonperforming assets were 0.766% of total gross loans at September 30, 2021, compared to 0.868% at September 30, 2020. We have been rigorously reviewing our loan portfolio since….[to-view-more]