Chesapeake Bank
Chesapeake Bank, a financial institution based in Virginia, just released its third-quarter earnings report. According to the report, the bank earned $3.38 million in the third quarter, a 4% increase from the same period last year.
The financial picture for Chesapeake Bank is looking healthy, with the institution seeing steady growth in recent years. The bank's net income for the first nine months of 2020 was $9.05 million, an increase of 13% compared to the first nine months of 2019.
The bank's assets also grew during the third quarter, reaching a total of $1.17 billion. This marks a $44.2 million increase from the end of the second quarter. Chesapeake Bank's loan portfolio grew as well, with a total of $972.1 million in loans on the books as of the end of September.
One potential factor contributing to Chesapeake Bank's success is its strong focus on customer service. The institution has been recognized for its customer service multiple times, including being named one of the top banks in the country for customer service by Forbes in 2019.
Chesapeake Bank also has a solid reputation for its community involvement. The bank participates in a variety of community events and initiatives, supporting local schools, charities, and other organizations.
Overall, the third-quarter earnings report from Chesapeake Bank is great news for the institution and its stakeholders. With continued focus on customer service and community involvement, the bank is poised for continued growth and success in the future.
Chesapeake Bank Address:
97 North Main Street
Kilmarnock, VA 22482
Phone: (804) 435-1181
Website: www.chesbank.com
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