Chesapeake Financial Shares Inc., parent company of both Chesapeake Bank and Chesapeake Wealth Management, recently reported earnings for the third quarter of 2023 of $2,477,896, a 58% decrease from the third quarter of 2022.
The third quarter of 2022 did include a non-recurring pre-tax gain of $2.2 million resulting from the sale of a partial interest in an investment brokerage firm. The reported earnings per share were $0.526 fully diluted compared to $1.261 fully diluted for the third quarter of 2022. Total assets ended the quarter at $1,382,205,095, up slightly from year-end.