The shareholders of Chesapeake Financial Shares celebrated the company’s birthday a few days early at Friday afternoon’s 125th anniversary annual Stockholders Meeting at Rappahannock Westminster-Canterbury in Irvington.
Chesapeake Financial Shares Inc. is the holding company for Chesapeake Bank and Chesapeake Wealth Management; the bank was chartered as Lancaster National Bank on April 13, 1900, which means that this coming Sunday will be Chesapeake’s official 125th birthday.
But that didn’t stop the celebration from kicking off a few days early, amid some good news for the shareholders. At Friday’s meeting, the company reported earnings for 2024 at a 12.9 percent increase over 2023 earnings.
Along with the numbers, Chesapeake’s Chairman, President and CEO Jeffrey M. Szyperski presented banking industry trends and insights to the assembled shareholders.
“We like to share with our shareholders what is happening in the industry so they have a good perspective on our performance and path ...