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Chesapeake Financial Shares Reports First Quarter Financials and Declares Dividend

A "Top Performing Community Bank" in the U.S. for the seventeenth consecutive year

KILMARNOCK, VA / ACCESS Newswire / April 29, 2025 / 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 CEO, reported financial results for the first quarter of 2025, reporting a net loss of $4,450,120. The reported earnings per share were $(0.942) fully diluted as compared to $0.583 for the first quarter of 2024. Total assets ended the quarter at $1,607,182,875, a 5.4% increase from year-end. Nonperforming assets were 0.472% as of March 31, 2025 compared to 0.328% at year-end.

"The first quarter loss was a proactive move by us to reposition approximately $75 million of investment securities into much higher yields. This is a one-time loss of approximately $8 million (post tax) in order to enhance the long-term yield of our investment portfolio. Additionally, we closed on $25 million in subordinated debt as part of a strategy to increase earnings as well as provide additional capital to support a stock buy-back initiative of up to $4 million. We strongly feel these moves will greatly enhance long-term shareholder value," said Szyperski.

At the April 18, 2025 Chesapeake Financial Shares Board of Directors meeting, the Board declared a quarterly dividend of $0.16 per share effective June 1, 2025, payable on or before June 15, 2025. The company has increased its dividend for 32 consecutive years. The stock currently has a 3.33% dividend yield.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see www.chesapeakefinancialshares.com. The company is followed by Zacks Investment Research, and a copy of their report can also be found on this site or at www.zacks.com. Chesapeake Financial Shares is an over-the-counter, publicly traded stock. Follow Chesapeake Bank on Facebook, Instagram, Threads, X, LinkedIn, and YouTube.

* * * * *

Contact: Jeffrey M. Szyperski 1-800-434-1181

SOURCE: Chesapeake Financial Shares Inc.



View the original press release on ACCESS Newswire

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