Chesapeake Financial Shares, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
July 18, 2020 at 04:27 am
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Chesapeake Financial Shares, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced net interest income was USD 8.198 million compared to USD 7.390 million a year ago. Net income was USD 2.050 million compared to USD 3.279 million a year ago. Basic earnings per share was USD 0.418 compared to USD 0.665 a year ago. Diluted earnings per share was USD 0.416 compared to USD 0.659 a year ago. For the half year, net interest income was USD 15.806 million compared to USD 14.363 million a year ago. Net income was USD 5.418 million compared to USD 6.254 million a year ago. Basic earnings per share was USD 1.102 compared to USD 1.268 a year ago. Diluted earnings per share was USD 1.097 compared to USD 1.257 a year ago.
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.
CHESAPEAKE FINANCIAL SHARES, INC. 
