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Chesapeake Bank processed around 929 of PPP loans worth $75M in a 3 week period

Chesapeake Financial Shares, Inc. (OTCQX:CPKF) subsidiary Chesapeake Bank CEO Jeffrey Szyperski tells Proactive the Virginia-based community bank while applications have slowed down for Paycheck Protection Program loans, it processed around 929 of these loans worth $75M in a 3 week period.

Szyperski says he expects another busy few months while small business owners file for a modified loan forgiveness application through the Paycheck Protection Program Flexibility Act (PPFA).

Quick facts: Chesapeake Financial Shares Inc.

Price: 21 USD

OTCQX:CPKF
Market: OTCQX
Market Cap: $102.78 m
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Chesapeake Bank adopts Real-Time Payments network to provide faster payments...

Chesapeake Financial Shares Inc (OTCQX:CPKF) CEO Jeff Szyperski tells Proactive the community bank has joined the Real-Time Payments (RTP) network developed by The Clearing House. Szyperski says with the RTP network, Chesapeake Bank customers can now receive payments directly into their...

on 08/12/2020

2 min read