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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 Bank and Reading Cooperative Bank Partner with Rebolt to Launch First Bank-Owned Payment Utility for Small Business
Chesapeake Bank, the banking subsidiary of Chesapeake Financial Shares (CPKF), and Reading Cooperative Bank are live on Rebolt, a community bank-owned payment utility purpose-built for small business banking, with business-customer availability anticipated in Fall 2026.
The platform adds payments to PayPal and Venmo accounts, stablecoin network on-ramps, and instant payments inside each bank's existing digital banking environment; COCC is live as an integration partner, a Jack Henry integration is available, and additional bank implementations are underway across both COCC and Jack Henry cores.
No financial terms or revenue impact were disclosed. The strategic hook is ownership: pricing, product roadmap, and governance are controlled by the member banks rather than outside investors, which the backers argue will help community banks recapture small-business payment flows ceded to fintechs over the past decade.