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Chesapeake Financial Shares, Inc. functions as the parent company for Chesapeake Bank, delivering a wide array of banking and financial services throughout Virginia. The institution offers various deposit accounts, including interest-bearing and non-interest checking, savings, money market accounts, and certificates of deposit. Its lending services extend to individuals, providing mortgage, single-family residential, residential construction, and general consumer loans. For businesses, the bank supplies commercial financing tailored to diverse sectors such as owner-occupied commercial development, retail, contractors/builders, medical practices, professional services, hospitality, nonprofits, the marine industry, and agriculture and seafood. Beyond traditional banking, Chesapeake Financial Shares also provides services like merchant processing, accounts receivable financing, wealth management, trust administration, mortgage banking, and cash management. The company operates through 16 branch locations situated in key regions of Virginia: 4 in the Northern Neck, 3 in the Middle Peninsula, 5 in Williamsburg, and 4 in Richmond. Founded in 1900, its corporate headquarters are located in Kilmarnock, Virginia.
Chesapeake Financial Shares Reports Second Quarter Financials and Declares Dividend
Chesapeake Financial Shares reported Q2 2026 net income of $8.18 million, or $1.75 per fully diluted share, up from $0.669 a year ago. Total assets increased 5.8% year-over-year to $1.73 billion, while nonperforming assets dropped to 0.256% from 0.483%.
The Board declared a quarterly dividend of $0.18 per share, marking the 33rd consecutive year of dividend increases. The stock price is currently 82% higher than a year ago with a 1.91% yield.
Reported earnings included a one-time gain of $2.7 million from the sale of Bearing Insurance, which contributed to the significant year-over-year growth.