Chesapeake Financial Shares Inc. (OTCQX:CPKF) this week reported strong financial results for the third quarter, including solid 8.1% loan growth and a 32-year streak of dividend increases.
CEO Jeff Szyperski joined Proactive to discuss the report.
Proactive: The company is reporting strong Q3 earnings and a dividend increase as well. We’ll get to all that in just a second. But overall, are you happy with what you’re seeing? It seems like a positive shift compared to the last time we spoke.
Jeff Szyperski: Yes, it was good. It’s nice to actually see a rate decrease from the Fed, even though it was only 50 basis points. They raised rates by 550 basis points, so even a small decrease had a calming psychological effect on the markets. That has helped us as we look forward to improvements in our net interest margin.
Where did you see the strongest parts of the company this quarter?
We’ve had solid loan growth, which …