Chesapeake Financial Shares, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 22, 2020 at 09:33 pm
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Chesapeake Financial Shares, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 7.605 million compared to USD 6.991 million a year ago. Net income was USD 1.916 million compared to USD 1.854 million a year ago. Basic earnings per share was USD 0.389 compared to USD 0.378 a year ago. Diluted earnings per share was USD 0.385 compared to USD 0.373 a year ago. For the full year, net interest income was USD 29.532 million compared to USD 27.571 million a year ago. Net income was USD 11.398 million compared to USD 10.819 million a year ago. Basic earnings per share was USD 2.311 compared to USD 2.205 a year ago. Diluted earnings per share was USD 2.292 compared to USD 2.173 a year ago.
Chesapeake Financial Shares, Inc. is a bank holding company. The Company's principal business activity consists of ownership in Chesapeake Bank (the Bank) and Chesapeake Wealth Management, Inc. (CWM). The Bank is a full-service lender and provider of deposit services to individuals and businesses. The Bank operates approximately 16 branches in the Northern Neck, Middle Peninsula, Williamsburg and Richmond. The Bank offers mortgage, commercial, and consumer loans to its customers. Its loan portfolio includes commercial loans, such as non-real estate, commercial real estate, consumer non-real estate, and residential real estate. Its securities available for sale include securities of state and political subdivisions, mortgage-backed securities, and other debt securities. CWM is an independent wealth management firm offering brokerage, trust, and estate management services.
CHESAPEAKE FINANCIAL SHARES, INC. 
