Chesapeake Financial Shares Posts Strong 2nd Quarter

By Eric Pesola Saturday, July 23, 2011

The second quarter earnings report for Chesapeake Financial Shares in 2010 was impressive, but this year’s results are even more substantial.

Chairman of the board and CEO Jeffrey M. Szyperski reported earnings for the second quarter of 2011 of $2,061,169, which represents a 55 percent increase over second quarter 2010 earnings.  

“For the first six months of 2011, [Chesapeake Financial Shares] reported earnings of $3,586,972, or a 44 percent increase over the first six months of 2010,” said Szyperski.

Szyperski said that by the end of June the firm had total assets of $619 million, which is an increase of 2 percent over assets reported at the end of December 2010. The reported earnings per share were $.638 fully diluted as compared to $.412 in 2010.

“We continue to have money to lend,” said Szyperski.

The Chesapeake Financial Shares board also voted to maintain the dividend at $.10 per share payable on or before September 15, 2011.  Currently Chesapeake Financial Shares’ dividend yield is over 3 percent, based on second quarter earnings.  

Szyperski also announced the firm is launching a new website, which he said is dedicated to investor relations.