News Releases

June 18, 2010
Chesapeake Bank named in "Top 200 Community Banks"
For the third consecutive year, Chesapeake Bank has made the US Banker magazine listing of the “Top 200 Community Banks” in the United States. The ranking is from the approximately 6,000 community banks in the study. In 2008, Chesapeake ranked #148, in 2009 ranked #64, and is now at #32. "This is a by-product of what we do every day," commented Jeff Szyperski, President and CEO of Chesapeake Bank. "While we are proud of this excellent ranking, we continue to keep our focus on what we do best, serving our customers and our communities."
Jeff Szyperski
President and CEO
Chesapeake Bank
click here to read the article

June 7, 2010
Article in Richmond Times Dispatch Business Section June 5, 2010
The following article ran in the Business Section of the Richmond Times Dispatch on Saturday, June 5, 2010. Chesapeake Bank was not contacted for comment on this article. This incident occurred in December 2009 and is fully reflected in our 2009 earnings. As the article states, we are currently pursuing the collection of the funds from the fraudulent transactions. This, in no way, affects our current performance or lending capability. If you have further questions, please contact me at 804-435-1181.
Jeff Szyperski
President and CEO
Chesapeake Bank
click here to read the article

April 19, 2010
Chesapeake Financial Shares Reports First-Quarter Earnings
On behalf of Chesapeake Financial Shares, Inc. (CFS), Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for the first quarter of 2010 of $1,161,370 representing a 24% increase over first quarter 2009 earnings.  Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group.  The reported earnings per share were $.422 fully diluted as compared to $.331 in 2009.  Szyperski commented, “This is one of the strongest quarters in CFS’s history.  We’re budgeting for 2010 to be approximately 6% ahead of 2009’s record earnings.”  READ MORE

January 19, 2010
Chesapeake Financial Shares Reports Record Earnings
On behalf of Chesapeake Financial Shares, Inc., Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for calendar year 2009 of $4,834,927, representing a 5.1% increase over 2008 earnings. Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group. The reported earnings per share were $1.77 fully diluted as compared to $1.60 in 2008--a 10.6% increase. READ MORE

October 19, 2009
Chesapeake Financial Shares reports record earnings
Chesapeake Financial Shares announced earnings through the third quarter of $3,572,734, representing the highest year-to-date earnings in the history of the company. This represents a 2.1% increase over the first nine months of 2008. READ MORE

July 20, 2009
Chesapeake Financial Shares reports second quarter earnings
Chesapeake Financial Shares, parent of Chesapeake Bank and Chesapeake Investment Group, reports net income of $2,091,066 for the first half of 2009. This represents a 12.7% decrease over the first six months of 2008. Since December 31, 2008, total assets of Chesapeake Financial Shares have increased 4.8% to $563,519,650 from $537,951,790. READ MORE

June 15, 2009
Chesapeake Financial Shares Named One Of The Top 200 Community Banks in America for Second Year
Chesapeake Financial Shares, for the second year in a row, has been named one of the top 200 community banks in America. The ranking by the US Banker magazine is based on a three-year average return on equity of the over 7,000 community banks in the United States. In the ranking, Chesapeake Financial Shares increased to #64 with a three-year average return on equity of 13.59%. READ MORE

May 27, 2009
Chesapeake Bank Receives 'Best in Industry' Scores
Chesapeake Bank announced it was ranked 'Best in Industry' for Employee Satisfaction for the third year in a row. By surpassing industry standards in Employee Engagement, a primary component of employee satisfaction, Chesapeake has proven itself one of the best employers in the financial industry. Employee satisfaction has a direct correlation with customer service. READ MORE

April 21, 2009
Chesapeake Financial Shares Reports First-Quarter Earnings
Chesapeake Financial Shares reported first-quarter earnings of $931,985 for the period ended March 31, 2009. This compares to $989,480 in the first quarter of 2008. The first-quarter fully-diluted earnings per share was $.33 per share as compared to $.34 in the first quarter of 2008. “Given the current turmoil in the economy and the accrual of an additional FDIC insurance premium in March, we are very pleased with our first-quarter results. READ MORE

January 26, 2009
Chesapeake Financial Shares reports record earnings
On behalf of Chesapeake Financial Shares, Inc., Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for calendar year 2008 of $4,600,907, representing a 5.9% increase over 2007 earnings. Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group. The reported earnings per share were $1.60 fully diluted as compared to $1.49 in 2007--a 7.4% increase. READ MORE