Jeffrey M. Szyperski, Chairman of the Board and CEO of Chesapeake Financial Shares Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management), recently announced the company’s financial results for the first quarter of 2025, reporting a net loss of $4,450,120.
The reported earnings per share were $(0.942) fully diluted as compared to $0.583 for the first quarter of 2024. Total assets ended the quarter at $1,607,182,875, a 5.4 percent increase from year-end. Nonperforming assets were 0.472 percent as of March 31, 2025 compared to 0.328 percent at year-end.
“The first-quarter loss was a proactive move by us to reposition approximately $75 million of investment securities into much higher yields,” Szyperski said. “This is a one-time loss of approximately $8 million (post tax) in order to enhance the long-term yield of our investment portfolio. Additionally, we closed on $25 million in subordinated debt as part of a strategy to increase earnings as well as provide addit...