Chesapeake Financial Shares Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 23, 2019 at 07:51 am IST
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Chesapeake Financial Shares Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 6.893 million compared to USD 6.696 million a year ago. Net income was USD 1.854 million compared to USD 1.835 million a year ago. Basic earnings per share was USD 0.453 compared to USD 0.452 a year ago. Diluted earnings per share was USD 0.447 compared to USD 0.443 a year ago. For the full year, net interest income was USD 27.371 million compared to USD 26.021 million a year ago. Net income was USD 10.819 million compared to USD 8.948 million a year ago. Basic earnings per share was USD 2.646 compared to USD 2.21 a year ago. Diluted earnings per share was USD 2.607 compared to USD 2.166 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. 
