Chesapeake Financial says it is well positioned for headwinds after posting higher 2Q earnings

Chesapeake Financial Shares Inc CEO Jeffrey Szyperski says the company has enjoyed a strong second quarter, helped by good asset growth and a big improvement in non-performing loans.

Earnings for the three months to June 30, 2022, increased by 2.4% to $4,063,623, or $0.861 per share on a fully diluted basis. Excluding the impact of $660,000 of once-off revenue in 2Q 2021, Szyperski said earnings were about 23% higher.

Despite increasing headwinds posed by rising inflation and interest rates, he said Chesapeake’s Specialty lines of business will provide a cushion as they are largely countercyclical.

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