Discover Chesapeake Bank's Financial Strength and Stability

Chesapeake Bank has a strong financial foundation, with a capital ratio of 12.5% as of 2022. This indicates a healthy balance sheet and a solid position to absorb potential losses.

The bank's assets have grown steadily over the years, reaching $1.4 billion in 2022. This growth is a testament to the bank's ability to manage risk and make sound investments.

Chesapeake Bank's focus on community banking has allowed it to maintain a strong presence in its local market. The bank has a network of 15 branches across the Chesapeake Bay region.

The bank's commitment to its customers is evident in its low loan delinquency rate of 0.5% in 2022. This suggests that Chesapeake Bank is effective in managing credit risk and providing support to its borrowers.

Chesapeake Bank has a long history dating back to 1988. The bank was founded by a group of local business leaders who wanted to provide better banking services to the community.

Chesapeake Bank is headquartered in Virginia Beach, Virginia, and has a strong presence in the Hampton Roads area. The bank has a reputation for being a community-focused institution.

Chesapeake Bank has a robust online banking platform that allows customers to manage their accounts, pay bills, and transfer funds from the comfort of their own homes. This feature has made banking more convenient for customers.

The bank's history dates back to its creation as Lancaster National Bank (of Lancaster, Virginia). It was later merged with Chesapeake Banking Company of Lively in 1968.

This merger led to the formation of Chesapeake National Bank, a name that would stick for a while. The bank dropped the "National" from its name in 1994, and has been known as Chesapeake Bank ever since.

Chesapeake Bank operates a range of lines of business beyond traditional banking.

Chesapeake Wealth Management is one of the bank's secondary lines of business.

Chesapeake Payment Systems is also a line of business operated by Chesapeake Bank.

Cash Flow divisions are another area where Chesapeake Bank offers its services.

Chesapeake Bank's lines of business provide customers with a comprehensive suite of financial services.

Here's a brief overview of Chesapeake Bank's lines of business:

Chesapeake Bank has a strong presence in Virginia with 19 brick-and-mortar branches.

Their online and mobile banking services are user-friendly, allowing customers to access their accounts on the go through mobile and web apps.

The Chesapeake Bank mobile app has a rating of 3.8 out of 5 based on 50 reviews on Apple and Android.

Customers can use the app to check monthly statements, transfer money, and reach support representatives.

Chesapeake Bank's customer satisfaction rating is outstanding due to a relatively low number of consumer complaints reported to the Consumer Financial Protection Bureau (CFPB).

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The Chief Revenue Officer is a key position in any bank, responsible for driving revenue growth and development. Alex Jung holds this role at Chesapeake Bank.

As a crucial member of the leadership team, the Chief Revenue Officer is tasked with identifying new business opportunities and implementing strategies to achieve revenue targets.

Chesapeake Bank has a total of $1.51 billion in assets, which is a significant amount of money.

The bank's financial health is in good shape, with a Texas Ratio of 1.23%, indicating that it's unlikely to fail.

You can rest assured that your money is insured up to $250,000 through the FDIC, which is a government-backed insurance program.

Here are some key financial metrics for Chesapeake Bank:

Chesapeake Bank's savings rate is a relatively fair 0.20% compared to other U.S. banks.

Its CD rates are 3.00% and 1.05% for the one-year and five-year term lengths, respectively.

The highest-yielding money market account at Chesapeake Bank earns an APY of 1.30%.

Considering its poor savings rate, you might want to explore other banking options for higher returns on your deposits.

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Chesapeake Bank charges customers above-average fees compared to the average U.S. bank.

Their monthly fees can be a significant burden, especially for those who want a simple checking account, which costs $0 per month.

You'll be happy to know that Chesapeake Bank reimburses its ATM fees, but there are conditions that apply.

This means you can access cash at any time, but be aware of the conditions that come with it.

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Chesapeake Bank has $1.51 billion in assets and $1.34 billion in deposits, ranking it as a medium-size bank.

A good sign of a bank's financial health is its Texas Ratio, which measures the bank's bad assets to its equity. Chesapeake Bank's Texas Ratio is a very low 1.23%, indicating that the bank is in good financial well-being and unlikely to fail.

FDIC insurance is another important aspect of a bank's financial health. Chesapeake Bank is FDIC-insured, which means that your money is insured up to $250,000 even in the event of bank failure.

Here are some key facts about Chesapeake Bank's financial health:

194 people are employed at Chesapeake Bank.

The number of employees at Chesapeake Bank is relatively small compared to larger banks.

This could be due to Chesapeake Bank's focus on serving a specific community or region.

194 is the number of people employed at Chesapeake Bank, according to the latest data.

This information can be useful for those looking to work in banking or for researchers studying the industry.

Employment numbers can fluctuate over time due to various factors.

However, as of now, 194 people are working at Chesapeake Bank.

Chesapeake Bank has a strong presence in the Mid-Atlantic region, with over 140 locations throughout Maryland and Virginia.

Their main office is located in Richmond, Virginia, where the bank's headquarters is situated.

Chesapeake Bank is based in Kilmarnock, Virginia.

The NAICS code is a six-digit code that identifies the specific industry of a business.

Chesapeake Bank's NAICS codes are quite lengthy, with multiple codes listed: 99, 999999, 9999, 52, 522, 99999, and 999.

If you're looking for the SIC code for a bank, it's not as complicated as it sounds. Chesapeake Bank, for example, has a SIC code of 602 and 60.

The SIC code for Chesapeake Bank is specifically 602 and 60.

Finding your routing number is a relatively straightforward process. You can start by checking online resources, such as websites that list routing numbers for major US banks.

To find your routing number online, you can also log into your online banking account. This is a convenient option, especially if you're already familiar with the platform.

If you don't have access to online banking, you can try looking for your routing number on a bank-issued check or bank statement. These documents typically include the necessary information.

You can also look up your routing number on the official website of the Federal Reserve, known as Fedwire. This is a reliable option if you're having trouble finding your routing number elsewhere.