'Top 200 Community Bank' in the U.S. for the fourteenth consecutive year

KILMARNOCK, VA / ACCESSWIRE / October 19, 2021 / On behalf of Chesapeake Financial Shares, Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board & CEO, 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,' stated 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 March 2020 and have been closely monitoring the effect the pandemic has had on our customers. Our loan customers have weathered all challenges well.'

Earlier this year Chesapeake Bank was recognized for the fourteenth consecutive year by American Banker magazine as a 'Top 200 Community Bank' in the nation based on a three-year average return on equity. 'We are rooted in the communities we serve - this is one of the keys to our success. The interconnectedness our organization feels with the community drives our mission,' commented Szyperski.

At their October 14, 2021 meeting, the Chesapeake Financial Shares Board of Directors declared a $0.14 per share dividend, payable on or about December 15, 2021, to shareholders of record at December 1, 2021. 'We feel this is a very strong dividend given the current market price of our stock. This translates into an approximate 1.89% dividend yield on the current stock price.

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. 'Like' Chesapeake Bank on Facebook and follow us on LinkedIn, Twitter, and Instagram.

CONTACT:
Jeffrey M. Szyperski
804-435-4249
1-800-434-1181

SOURCE: Chesapeake Financial Shares, Inc.