News Releases

June 14, 2011
Chesapeake Bank Ranked #1 in Virginia
For the fourth consecutive year, Chesapeake Bank has made the US Banker magazine listing of the “Top 200 Community Banks” in the United States. The bank ranked at #20 in the nation and #1 in Virginia out of approximately 6,000 community banks in the study. In 2008, Chesapeake ranked #148, in 2009 ranked #64, and in 2010 ranked #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."
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April 19, 2011
Chesapeake Financial Shares Increases Dividend
At their April 15, 2011 meeting, the Chesapeake Financial Shares (CFS) Board of Directors voted to increase the company's dividend to $.10 per share. Following the April 1 six-for-five stock split, this represents a 4.3% increase in dividend. This follows a 4.5% dividend increase last quarter. Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group.
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April 4, 2011
Chesapeake Financial Shares Reports Stock Split
Chesapeake Financial Shares (parent company of Chesapeake Bank and Chesapeake Investment Group) announced at its 111th Annual Shareholders Meeting last Friday a six-for-five stock split. The stock split is for shareholders of record April 1, 2011, to be payable on or before April 15, 2011. Jeffrey M. Szyperski, Chairman & CEO, announced this at the close of the shareholders meeting held at Rappahannock Westminster-Canterbury, Irvington.
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January 24, 2011
Chesapeake Financial Shares Reports Record Earnings/Increases Dividend
On behalf of Chesapeake Financial Shares, Inc. (parent company of both Chesapeake Bank and Chesapeake Investment Group), Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for calendar year 2010 of $5,446,164, representing a 12.6% increase over 2009 earnings. The reported earnings per share were $2.027 fully diluted as compared to $1.773 in 2009--a 14.3% increase.
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October 18, 2010
Chesapeake Financial Shares Reports Third Quarter Earnings
On behalf of Chesapeake Financial Shares, Inc. (CFS), Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for the third quarter of 2010 of $1,945,102 representing a 31% increase over third quarter 2009 earnings. Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group. The reported earnings per share were $.71 fully diluted as compared to $.53 in 2009. Szyperski commented, “For the first nine months of 2010, CFS reported earnings of $4,436,321, or a 24% increase over the first nine months of 2009.”
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September 2, 2010
Lights, Camera, Save! Chesapeake Bank Calls for Entries
Today’s kids know everything about everything, but how much to do they know about the value of saving?  Chesapeake Bank’s participation in the Lights, Camera, Save! competition seeks to answer that very question.
“The Lights, Camera, Save! contest will allow teens to role play and record their thoughts regarding the value of saving money,” explained Jeff Szyperski, President and CEO of Chesapeake Bank.  It’s a way to get kids thinking about saving and its impact.”
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July 19, 2010
Chesapeake Financial Shares Reports Second Quarter Earnings
On behalf of Chesapeake Financial Shares, Inc. (CFS), Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for the second quarter of 2010 of $1,329,850 representing a 14.7% increase over second quarter 2009 earnings. Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group. The reported earnings per share were $.484 fully diluted as compared to $.414 in 2009. Szyperski commented, “For the first six months of 2010, CFS reported earnings of $2,491,219, or a 19% increase over the first six months of 2009.”
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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
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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