CPKF
Chesapeake Financial Shares, Inc.27.50
-1.00-3.51%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
129.45MP/E (TTM)
13.96Basic EPS (TTM)
1.97Dividend Yield
0.02%Recent Filings
8-K
Record earnings, going-private plan
Chesapeake Financial Shares reported record 2002 earnings of $2.34 per share, up 13.1% from $2.07 in 2001, with return on beginning equity at 14.81%. Total assets grew 19.8% to $293,125,000, net loans rose 16.1% to $193,267,000, and the quarterly dividend increased 8.33% to $0.13 per share. The company plans a going-private transaction in late February, offering $27.00 per share to small shareholders while larger ones retain holdings, to cut SEC compliance costs. Strong loan quality persists.
8-K
Prices $10M TruPS for capital
Chesapeake Financial Shares priced $10 million in Capital Trust Pass-Through Securities on December 11, 2002, set to close around December 19, maturing January 7, 2033, with floating-rate distributions in a private placement arranged by Salomon Smith Barney. This bolsters Tier 1 capital to keep Chesapeake Bank well-capitalized amid growth and funds the cash payout for its ongoing going-private deal. Low-cost financing fits the board's strategy. Yet risks linger in the unregistered issuance.
8-K
Earnings rise, privatization delayed
Chesapeake Financial Shares reported record nine-month earnings of $2,267,000, up 15.9% from $1,956,000 last year, with total assets swelling to $281.8 million and loans hitting $191.8 million. The company delayed its shareholder meeting for the going-private transaction to early 2003, offering $27 per share in cash to holders of fewer than 500 shares—above the $22.75 closing price before announcement. It boosted the quarterly dividend to $0.13 per share. Deregistration cuts public burdens, yet preserves independence.
8-K
Going private via share buyout
Chesapeake Financial Shares announced a plan to go private, converting about 73,300 shares—or 5.7% of its common stock—into cash at $27.00 per share for holders with fewer than 500 shares, while larger holders retain theirs. This deregistration, subject to shareholder approval at a November 12, 2002 meeting, will slash the shareholder count to 234 and halt OTC Bulletin Board trading. The board eyes major cost savings, deeming public burdens unjustified amid thin trading and undervalued stock. Yet risks lurk in forward-looking assumptions.
10-Q
Q1 FY2002 results
Chesapeake Financial Shares posted net income of $674,232 for Q1 2002 ended March 31, up 8.4% from $621,904 a year earlier, with diluted EPS climbing to $0.53 from $0.49 on 1,278,888 weighted shares. Net interest income rose 14.1% year-over-year to drive the gain, while noninterest income grew 17.1% thanks to stronger business manager and merchant card revenues; yet noninterest expenses jumped 17.7%, fueled by startup costs at the new Gloucester office. Total assets hit $259.4 million, up 13.4% year-over-year, with loans at $171.5 million and deposits at $224.3 million reflecting deposit mix shifts toward savings and noninterest-bearing accounts. Liquidity strengthened, with short-term assets at $20.9 million versus $4.8 million last year and an asset liquidity ratio of 23.1%. Capital ratios remain solid, Tier 1 at 9.2%. Loan quality holds firm. Delinquencies stay low.
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