Chesapeake Financial Shares Announces Sale of Interest in Bearing Insurance Group

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KILMARNOCK, VA / ACCESS Newswire / May 13, 2026 / On behalf of Chesapeake Financial Shares, Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board and CEO, announced the sale of its membership interest (held by Chesapeake Bank) in Bearing Insurance Group, LLC to an unaffiliated party, effective May 1, 2026. The Company estimates it will recognize a pre-tax gain of approximately $3.75 million on the transaction and will be reported in the Company's financial results for the second quarter of 2026.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see www.chesapeakefinancialshares.com. The company is followed by Zacks Investment Research, and a copy of their report can also be found on this site or at www.zacks.com. Chesapeake Financial Shares is an over-the-counter, publicly traded stock. Follow Chesapeake Bank on Facebook, Instagram, Threads, X, LinkedIn, and YouTube.

Contact: Jeffrey M. Szyperski 1-800-434-1181

SOURCE: Chesapeake Financial Shares Inc.