Jeffrey M. Szyperski, chairman of the board and CEO of Chesapeake Financial Shares Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management), reported earnings of $3.38 million for the third quarter of 2020, a 4.8 percent increase over the third quarter of 2019.

The reported earnings per share were $0.692 fully diluted compared to $0.649 fully diluted for the third quarter of 2019. Total assets ended the quarter at $1.17 billion, a 24.2 percent increase over Sept. 30, 2019.

“We have had a good 2020 thus far,” stated Szyperski. “Through September 30, we’ve recognized net income of $8.8 million representing a 7.2 percent decrease from the first nine months of 2019. Coming off of a record year in 2019, we are very pleased to be where we are at this point in 2020, considering the international effects of COVID-19.”

Nonperforming assets were 0.868 percent of total gross loans at Sept. 30, 2020 compared to 0.983 percent at Sept. 30, 2019.

“We have been rigor...