Chesapeake Monetary Shares Stories File Earnings and Declares Dividend

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A “Prime 200 Group Financial institution” within the U.S. for the fifteenth consecutive 12 months

KILMARNCOK, VA / ACCESSWIRE / January 24, 2023 / On behalf of Chesapeake Monetary Shares, Inc. (mum or dad firm of each Chesapeake Financial institution and Chesapeake Wealth Administration), Jeffrey M. Szyperski, Chairman of the Board and CEO, reported file earnings for calendar 12 months 2022 of $17,628,587 representing a 17.4% improve over 2021 earnings. The reported earnings per share have been $3.73 absolutely diluted as in comparison with $3.11 in 2021. Chesapeake Monetary Shares ended the 12 months December 31, 2022 with whole property of $1,328,997,182, a 4.1% lower from year-end 2021. Nonperforming property have been 0.541% as of December 31, 2022 in comparison with 0.490% at December 31, 2021. Moreover, recoveries exceeded charge-offs for the 12 months by $86,722 additional reflecting sturdy asset high quality.

“Our sturdy earnings have been largely boosted by our sturdy internet curiosity margin,” stated Szyperski. “We have been in a position to not improve our deposit charges on par with the Federal Reserve fee will increase as a result of excessive liquidity we maintained coming by means of the pandemic. Moreover, we recorded a one-time achieve of $1.7 million (internet of tax) from the sale of our partial curiosity in an funding brokerage agency within the third quarter. The online curiosity margin was 3.93% for the quarter ended December 31, 2022. Along with our sturdy earnings, American Banker named us one of many ‘Prime 200 Group Banks’ in the USA for the fifteenth consecutive 12 months and one of many ‘Greatest Banks to Work For’ for the tenth consecutive 12 months. We now have been dedicated neighborhood companions and our communities have, in flip, supported us.”

On the January 20, 2023 Chesapeake Monetary Shares Board of Administrators assembly, the Board declared a quarterly dividend of $0.15 per share efficient March 1, 2023, payable on or earlier than March 15, 2023. The corporate has elevated its dividend for 30 consecutive years. The inventory at the moment has a 2.78% dividend yield.

For extra details about Chesapeake Monetary Shares inventory (CPKF), or to obtain every day e-mail alerts of our inventory worth, see www.chesapeakefinancialshares.com. To obtain investor information updates about us go to our web page on Proactive Investors (https://www.proactiveinvestors.com). The corporate is adopted by Zacks Funding Analysis, and a duplicate of their report will also be discovered on this website or at www.zacks.com. Chesapeake Monetary Shares is an over-the-counter, publicly traded inventory. “Like” Chesapeake Financial institution on Fb and comply with us on LinkedIn, Twitter, and Instagram.

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

SOURCE: Chesapeake Monetary Shares Inc.

View supply model on accesswire.com:
https://www.accesswire.com/736521/Chesapeake-Financial-Shares-Reports-Record-Earnings-and-Declares-Dividend

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