Chesapeake Financial Shares, Inc. announced that it expects to receive $20 million in funding
June 14, 2021
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Chesapeake Financial Shares, Inc. announced that it will receive $20,000,000 in funding on June 15, 2021. The company will issue non-convertible debt in the transaction. The minimum investment accepted from any outside investor is $100,000. The company will issue securities pursuant to exemption provided under Regulation D.
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.