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Banks  \nto Work For and  \nTop 200 Community Banks  \n(based on three-year average ROE)  \n2021 designations by  \nRECORD EARNINGS  \n$15.0M  \n$3.11 Earnings Per Share  \n11.87% Return on Average Equity  \n92 Employees Volunteered  \n121  \nOrganizations Served by Our Volunteers  \n4,710 Volunteer Hours  \nOver4,700  \nSmall  \nBusinesses  \nServed  \nOur customers rated our service 4.7 out of 5 based on 2021 surveys.  \n1,439  \nPaycheck Protection Program loans  \nOVER $112M TOTAL  \nReflects total PPP loans from 2020 and 2021  \nOver26,000  \nCustomers  \nServed  \nAnother one to the record books! 2021 was a record breaking earnings year for  \nChesapeake Financial Shares – our fifth in a row. This is a testament to our employees’  \ncommitment to serve the financial needs ofour community. The interdependence we have with our communities is evidenced by the deep roots we have developed and, as a result, our growth.  \nOur net income was $15,009,514 for 2021 representing a 27.7% increase over 2020. Coming off of total asset growth in 2020 of 26%, we increased another 15% in 2021 ending the year at $1,385,816, 175. Our consistently strong loan demand, both commercial and mortgage, fueled loan growth despite large Paycheck Protection Program loan payoffs. As always, the stellar performance of our investment portfolio added significantly to our strong performance. Our specialty lines of business gave us added revenue diversification to supplement our strong core banking performance.  \n2021’s passings were felt all that much more because of the collective pall the pandemic brought over our country. Desmond Tutu, Bob Dole, Stephen Sondheim, Colin Powell, Betty White, Eric Carle, Rush Limbaugh and Hank Aaron all contributed to the ongoing mosaic of our world, and their absences will be felt.  \nOur Annual Report cover reflects the “Main Streets” of the communities we serve. If nothing else, the pandemic has shined a light on the genuine dependence our employees, our company and our communities have upon each other, all inuring to the benefit ofyou our shareholder. Please join us Friday, April 1st, for our Annual Shareholders Meeting.  \nI look forward to seeing you there.  \nSincerely,  \nJeffrey M. Szyperski  \nChairman, CEO & President Chesapeake Financial Shares, Inc.  \n1  \n2 0 2 1 A N N U A L R E P O R T  \nSELECTED FINANCIAL INFORMATION  \n2021 2020 2019 2018 2017  \n(Dollars in thousands except ratios and per share amounts)  \nResults of Operations  \nInterest income Interest expense Net interest income Provision for  \n(reversal of ) loan losses Net interest income after  \nprovision for loan losses Noninterest income Noninterest expense Income before income taxes Income tax expense Net income  \nFinancial Condition  \nTotal assets  \nTotal deposits Net loans Subordinated notes Short-term debt  \nTrust preferred capital notes Shareholders' equity Average assets  \nAverage shareholders' equity  \nKey Financial Ratios  \nReturn on average assets Return on average equity Cash dividends paid as a percent of net income  \nPer Share Data**  \n$ 44,901  \n3,346 41,555  \n(400)  \n41,955 19,312  \n43,954 17,313 2,303  \n$ 15,010  \n$ 1,385,816 1, 124,972  \n656,786 20,000  \n99,046 5, 155  \n126, 137 1,311,403  \n126,454  \n1. 14%  \n11. 87%  \n16.99%  \n$ 38,563  \n5,051 33,512  \n1,950  \n31,562 19,624 37,391 13,795  \n2,046$ 11,749  \n$ 1,204,733 1,019,501 544,439  \n—  \n50,000 5, 155  \n122,666 1, 112,051  \n114,443  \n1.06%  \n10.27%  \n20.77%  \n$ 37,673 8, 140  \n29,533 525  \n29,008 20,584 36,288 13,304  \n1,905$ 11,399  \n$ 958,306  \n839, 116  \n531, 113  \n—  \n—  \n5, 155 105,443 932,397  \n102,821  \n1.22%  \n11.09%  \n21.09%  \n$ 32,546 4,975  \n27,571 525  \n27,046 18,508 33,356 12, 198  \n1,378$ 10,820  \n$ 854,766  \n749, 181  \n506,204  \n—  \n—  \n5, 155 92,726  \n820,677 89,659  \n1.32%  \n12.07%  \n20.79%  \n$ 29,912 3,777  \n26, 135 950  \n25, 185 27,310 41, 127 11,368  \n2,419$ 8,949  \n$ 785,231  \n675,458  \n485, 174 ","cbCaidiqYWWcRTjR","https://ap.wps.com/l/cbCaidiqYWWcRTjR","pdf",1023676,56,"English","# Selected Financial Information\n## Results of Operations\n## Financial Condition\n## Key Financial Ratios\n## Per Share Data\n# Independent Auditor’s Report","[{\"question\":\"What were the headline financial highlights reported for 2021?\",\"answer\":\"The report emphasizes record earnings for 2021, including net income of $15,009,514 and per-share earnings of $3.11, along with returns on average equity and other key ratios.\"},{\"question\":\"How does the report describe the company’s community and customer impact in 2021?\",\"answer\":\"It reports volunteer outcomes (employees volunteering, organizations served, and volunteer hours) and notes customer ratings based on 2021 surveys, alongside the role of communities and employees in driving performance.\"},{\"question\":\"What does the Independent Auditor’s Report state about the financial statements?\",\"answer\":\"It states that the consolidated financial statements present fairly, in all material respects, the company’s financial position, results of operations, and cash flows for the years ended, in accordance with U.S. generally accepted accounting principles.\"}]","2021 Annual Report - Record Earnings and Community Impact | PDF",1789973635,141]