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.

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

SOURCE: Chesapeake Financial Shares Inc.