Chesapeake Finl - CPKF STOCK NEWS

Chesapeake Financial Shares (CPKF) has successfully completed a $25 million private placement of fixed-to-floating rate subordinated notes. The offering, which was significantly oversubscribed, demonstrates strong investor demand and favorable pricing conditions.

The notes will initially carry an 8.00% interest rate from February 28, 2025, to March 1, 2030, paid semi-annually. After March 2030, the rate will reset quarterly to three-month SOFR plus 394 basis points until maturity on March 1, 2035.

The notes qualify as Tier 2 capital for the company and can be contributed as Tier 1 capital to Chesapeake Bank. Proceeds will support general corporate purposes, including:

• Growth opportunities
• Partial repositioning of the Bank's investment portfolio
• Opportunistic common share repurchases

Chesapeake Financial Shares (CPKF) has announced key executive changes in its Chesapeake Payment Systems division. DJ Seeterlin, previously Chief Innovation and Strategy Officer, has been promoted to President, succeeding Kate Root who transitions to a part-time role as Director of Partner Strategy.

Seeterlin, with 13 years at the company, has led several innovative payment initiatives, including the implementation of instant payments networks FedNow and RTP. He serves on multiple industry boards and is co-founder of Rebolt Financial Technologies. In his new role, he will lead partnerships with ISOs, Payment Facilitators, Processors, and other business entities.

Root, who has been with the company for 10 years, will focus on developing partner relationships in her new role. Chesapeake Payment Systems, approaching its 30th anniversary in 2025, enables payment processing for businesses across Virginia and the U.S. through partner sponsorships.

Chesapeake Financial Shares reported strong financial results for 2024, with earnings of $11,427,860, marking a 12.9% increase from 2023. The company achieved earnings per share of $2.422 fully diluted, up from $2.151 in 2023. Total assets reached $1,524,646,193, representing a 3.96% year-over-year growth.

The company demonstrated stable performance with nonperforming assets at 0.328% as of December 31, 2024. The Board declared a quarterly dividend of $0.16 per share, payable March 15, 2025, maintaining their 32-year streak of dividend increases. The stock currently yields 3.47%.

Notable achievements include being named one of the 'Top Performing Community Banks' by American Banker for the seventeenth consecutive year and one of the 'Best Banks to Work For' for the twelfth consecutive year.

Chesapeake Financial Shares has appointed Dede Ramoneda to its Board of Directors. Ramoneda brings extensive experience across financial services, energy, and consulting sectors. At First Citizens Bank, she played a important role in the acquisitions of CIT and Silicon Valley Bank, leading IT integration efforts. Her expertise in digital transformation, risk mitigation, and IT strategy is particularly valuable as the banking industry becomes increasingly technology-dependent.

Ramoneda's accomplishments include recognition through Computerworld's Best Places to Work in IT (2023), Orbie Award: Carolina Enterprise CIO of the Year (2022), and Triangle Business Journal's CIO of the Year (2014). She has served on multiple boards, including ScanSource, NCTech, and Progress Telecom Access Networks. She holds a BS in Industrial Management from LSU, an MBA from Rollins College, and completed Executive Education at The Wharton School.

Chesapeake Financial Shares (OTCQX:CPKF) reported third quarter 2024 earnings of $2,600,159, a 5% increase from Q3 2023. Earnings per share were $0.550 fully diluted, up from $0.526 in Q3 2023. Total assets reached $1,589,344,001, an 8% increase from year-end. Nonperforming assets were 0.421% as of September 30, 2024.

The company's lending grew 8.1% annualized year-to-date in 2024. The Board of Directors increased the quarterly dividend by $0.05 to $0.16 per share, effective December 1, 2024. This marks the 32nd consecutive year of dividend increases. The stock currently has a 3.26% dividend yield and trades at a 9.79 price/earnings ratio.

Chesapeake Financial Shares has been recognized as a "Top Performing" community bank in the U.S. for the seventeenth consecutive year.

Chesapeake Bank (OTCQX:CPKF) has appointed Ron Andrews to its Board of Directors. Andrews, a seasoned bank operations leader with 37 years of experience in the United States and the United Kingdom, has been serving on Chesapeake Bank's Technology Advisory Board since 2016. He is also an Executive Partner at the Mason School of Business, College of William and Mary.

Jeff Szyperski, CEO of Chesapeake Financial Shares and Chesapeake Bank, expressed enthusiasm about Andrews' addition, citing his deep industry knowledge and expertise as valuable assets for the bank's future. Andrews' career highlights include 22 years at Signet Bank/Capital One, where he led fraud prevention operations and oversaw the internet bank, growing deposits by $20 billion. He later served as Managing Director at Citibank, leading Global Fraud Operations for Consumer and Small Business Banks across 16 countries.

Silverflow, a cloud-native payment processing company, has partnered with Chesapeake Bank to bring advanced payment processing solutions to more US customers. This collaboration will enable Chesapeake Bank's ISO clients to access a modern, high-performance payment processing platform through its division, Chesapeake Payment Systems.

The partnership leverages Silverflow's state-of-the-art processing platform, enhancing Chesapeake Bank's service offerings and positioning it as an early adopter of new technology. TRX Services, an ISO partner, will handle the integration, ensuring a seamless transition for existing BIN sponsorship services.

Key benefits of the partnership include a modern processing solution, enhanced ISO services, and a shared vision for innovation and client service. This collaboration marks another milestone for Silverflow, following recent announcements about its Supervisory Board appointments.

Chesapeake Financial Shares (OTCQX:CPKF) reported second quarter 2024 earnings of $3,036,512, consistent with Q2 2023. Earnings per share were $0.646 fully diluted, compared to $0.648 in Q2 2023. Total assets increased by $62 million to $1,533,102,804. Nonperforming assets improved to 0.237% from 0.327% year-over-year.

The company declared a quarterly dividend of $0.155 per share, payable September 15, 2024, marking its 31st consecutive year of dividend increases. The stock currently yields 3.54%. Chesapeake Financial Shares was included in American Banker magazine's 'Top 100 Community Banks' for the 17th consecutive year, based on return on equity.

Chesapeake Financial Shares, Inc. (CPKF) reports a significant increase in earnings for the first quarter of 2024, with reported earnings of $2,749,988, a 303.9% rise from the previous quarter. Earnings per share were $0.583 fully diluted, compared to $0.192 in the fourth quarter of 2023. Total assets reached $1,511,866,477, showing a $40.8 million increase from the year-end. Nonperforming assets decreased to 0.187% as of March 31, 2024. The company attributes its success to the performance of Chesapeake Payment Systems and Flexent, along with a 15.2% annualized net loan growth in the first quarter. The Board of Directors declared a quarterly dividend of $0.155 per share, marking the 31st consecutive year of dividend increases, with a current dividend yield of 3.76%.