Chesapeake Bank


97 N Main St
Kilmarnock, VA 22482
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Notable Rates APY Vs.Others
Savings 0.05% 5.55% →
1-Year CD 0.40% 5.60% →
2-Year CD 0.55% 4.90% →
5-Year CD 0.90% 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Chesapeake Bank is an FDIC insured institution located in Kilmarnock, VA. It was founded in 1900 and has approximately $1.47 billion in assets. Customers can open an account at one of its 17 branches.

FDIC Insured Yes
FDIC Certificate # 6862
Date Established 1900
Assets $ 1,467.11 million
Loans $ 854.99 million
Deposits $ 1,269.17 million
Capital $ 116.92 million

For a more detailed analysis of Chesapeake Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 21, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.05% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.10% $25,000 $29,999 Learn More
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.40% $10,000 $14,999 Learn More
12 Mo CD
0.40% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.55% $10,000 $14,999 Learn More
24 Mo CD
0.55% $100,000 $199,999 Learn More
36 Mo CD
0.60% $10,000 $14,999 Learn More
36 Mo CD
0.60% $100,000 $199,999 Learn More
60 Mo CD
0.90% $10,000 $14,999 Learn More
60 Mo CD
0.90% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Online Only Savings Rates of Clear Sky Accounts

Online Savings Rates APY MIN MAX
Totally Free Savings
0.25% $1 $250,000 Learn More

Online Only CD Rates of Clear Sky Accounts

Online CD Rates APY MIN MAX
6 Month CD
0.65% $1,000 - Learn More
7 Month Special
5.00% $1,000 - Learn More
12 Month CD
0.75% $1,000 - Learn More
13 Month CD Special
4.75% $1,000 - Learn More
18 Month CD
0.85% $1,000 - Learn More
2 Year CD
0.90% $1,000 - Learn More
3 Year CD
1.00% $1,000 - Learn More
37 Month CD special
3.30% $1,000 - Learn More
5 Year CD
1.05% $1,000 - Learn More

Bank Online Offers

Loan Rates - April 21, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Chesapeake Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Learn More
Tomo Mortgage, LLC.
NMLS ID: 2059741
6.994% 6.875%
0.63 points
$3,901 fees
$2,103 Learn More
Neighbors Bank
NMLS ID: 491986

Learn More
NMLS ID: Not a Lender

Learn More
NMLS ID: Not a Lender

Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to Chesapeake Bank
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Climate Policy and Initiatives

Chesapeake Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

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Financial Details

Chesapeake Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Chesapeake Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Chesapeake Bank U.S. Bank Average
1.67% 3.96%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2024, Chesapeake Bank had $1,275,000 in non-current loans and $839,000 in owned real estate. To cover these potential losses it had $116,922,000 in equity and $9,408,000 in loans loss reserves. That gives it a Texas Ratio of 1.67%.

Return on Equity
Chesapeake Bank U.S. Bank Average
9.51% 12.20%

Chesapeake Bank has a Return on Equity of 9.51% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Chesapeake Bank U.S. Bank Average
7.97% 10.76%

Chesapeake Bank has a Capitalization of 7.97% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Chesapeake Bank Balance Sheet Analysis

As of December 31, 2023, Chesapeake Bank had assets of $1,467,111,000, loans of $854,986,000, and deposits of $1,269,168,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2024
Cash & Balances due from depository institutions $ 36.24 million
Interest-bearing balances $ 1.82 million
Total securities $ 482.05 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 854.99 million
Loan loss allowance $ 9.41 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.84 million
Goodwill and other intangibles $ 7.35 million
All other assets $ 55.00 million
     Total Assets $ 1,350.19 million
Total deposits $ 1,269.17 million
      Interest-bearing deposits $ 990.40 million
      Deposits held in domestic offices $ 1,269.17 million
      % insured (estimated) 69.50%
Federal funds purchased and repurchase agreements $ 0.43 million
Trading liabilities N.A.
Other borrowed funds $ 27.00 million
Subordinated debt N.A.
All other liabilities $ 9.37 million
      Total Liabilities $ 1,350.19 million
      Shareholders’ Equity $ 116.92 million

Summary Income Statement

December 31, 2024
Total Interest Income $ 65.12 million
Total Interest Expense $ 17.34 million
Net interest income $ 47.78 million
Provision for loan and lease losses $ 0.94 million
Total non interest income $ 25.54 million
Total non interest expense $ 57.23 million
Pre-tax Net Operating Income $ 13.73 million

Bank Loan Profile?

The top three loan types in Chesapeake Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Chesapeake Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 20.03
Credit Card Loans 0.00
Consumer Auto Loans 0.30
Small Business Loans 10.46
Construction and Development Loans 7.43
Commercial Real Estate 34.59
Commercial and Industrial Loans 19.20
Farm Loans 0.00

Customer Reviews for Chesapeake Bank

  • January 27, 2023

    The worst bank I have ever had

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