Chesapeake Financial Shares Inc., the parent company of Chesapeake Bank and Chesapeake Wealth Management, posted earnings of $3,279,646 for the second quarter of 2019, a 14.4 percent increase over the second quarter of 2018, according to chairman and CEO Jeffrey M. Szyperski.

The reported earnings per share were $0.791 fully diluted compared to $0.691 fully diluted for the second quarter of 2018.  Total assets ended the quarter at $934,148,335, a 9.3 percent increase over year-end.

“We have had a strong 2019 thus far,” stated Szyperski. “At mid-year we have net income of $6,254,296 representing an 8.1 percent increase over the first six months of 2018. Coming off a record year in 2018, we are very pleased to be where we are mid-year 2019.” Nonperforming assets were 1.67 percent at June 30, 2019 as compared to 1.59 percent at June 30, 2018.

Earlier this year, Chesapeake Bank was recognized for the 12th consecutive year by American Banker magazine as a &ld...