Chesapeake Financial Shares Inc. (OTCQX:CPKF) CEO Jeffrey Szyperski tells Proactive's Stephen Gunnion that the company's asset quality is as good as it has ever been.
At 0.432% at the end of September, from 0.766% a year earlier, Szyperski said nonperforming assets are very low, even by industry standards, preparing Chesapeake for volatile economic conditions in the US.
The Chesapeake Bank and Chesapeake Wealth Management parent company posted third-quarter earnings of more than $5.9 million ($1.26 per diluted share), a 58% increase year-over-year. Earnings included a one-time $2.2 million gain from the sale of a partial interest in an investment brokerage firm, he added.