Sunday, February 16, 2025

Business Briefs for July 24

Chesapeake Financial Shares Reports Second Quarter Earnings and Declares Dividend

Jeffrey M. Szyperski, Chairman of the Board and CEO of Chesapeake Financial Shares, Inc. (parent company of both Chesapeake Bank and Chesapeake Wealth Management) reported earnings for the second quarter of 2024 of $3,036,512, roughly level with the second quarter of 2023.

The reported earnings per share were $0.646 fully diluted as compared to $0.648 for the second quarter of 2023, it said, and total assets ended the quarter at $1,533,102,804, up $62 million from year-end. Nonperforming assets were 0.237% as of June 30, 2024 compared to 0.327% for the second quarter of 2023.

At the July 19 Chesapeake Financial Shares Board of Directors meeting, the Board declared a quarterly dividend of $0.155 per share effective September 1, 2024, payable on or before Sept. 15, it said, noting the company has increased its dividend for 31 consecutive years.  The stock currently has a 3.54% dividend yield.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see chesapeakefinancialshares.com.  To receive investor news updates about us visit its page on Proactive Investors (proactiveinvestors.com).

Rosie’s New Kent Invests In Community Through Rosie’s Gives Back Program

Rosie’s New Kent said it contributed a total of $22,500 through its Rosie’s Gives Back program to support trusted community partners serving youth development and community support in the second quarter of 2024.

Recipients of contributions include:

  • $8,000 to the New Kent Trojan Theatre. This donation will allow the New Kent Theatre to offer scholarships to students who otherwise would not have the ability to be a part of the program, expand outreach bringing workshops and performance to underserved communities and schools, and support the overall development of the theater arts in New Kent County Schools.
  • $7,500 to Dream Catchers, whose mission is to provide therapeutic riding, equine-assisted psychotherapy, and equine-assisted learning services to children and adults with special needs.
  • $5,000 to New Kent Falcons Football and Cheer. This donation will allow them to improve the safety of their players and cheerleaders by allowing them to replace older equipment. It will also aid in expanding their program to include flag football to be more inclusive and reach a wider range of children.
  • $2,000 to RGP School Supply Program. This program helps students in New Kent County and the surrounding areas receive the supplies they need to continue their education.

Rosie’s New Kent said it is proud to support a wide variety of organizations in our area that provide support and assistance throughout all segments of our community. Community nonprofit organizations can request financial, volunteer, in-kind, or other support through the Rosie’s Gives Back program by submitting an online request form.

Rosie’s Gaming Emporiums in New Kent and around the state contribute to local organizations and causes through the “Rosie’s Gives Back” program which supports a range of nonprofits and causes around Virginia.

Gloucester Brewing Company Awarded $10,000 Backing Small Businesses Enhancement Grant through American Express and Main Street America

(Consociate Media)

Gloucester Brewing Company announced it was awarded a $10,000 small business grant from the National Main Street Center in partnership with American Express.

The “Backing Small Business” grant program aims to provide vital financial support to small businesses that are integral to the economic and social fabric of their communities. The program’s 500 2024 grant recipients represent U.S. small businesses across all 50 states, plus D.C. and Puerto Rico.

Later this year, grantees will have the opportunity to apply for an additional $30,000 enhancement grant that will be awarded to 25 small businesses.

Gloucester Brewing Company, which has been a staple on Main Street, will help fund several key initiatives, including expansion of marketing efforts to reach more customers and enhance customer comfort.

For more information about Gloucester Brewing Company and its offerings, visit globrewco.com. To learn more about the “Backing Small Business” grant program, visit the National Main Street Center’s website at mainstreet.org.

Norfolk International Airport Reports on June 2024 Activity

Norfolk International Airport (ORF) reported an 11.4% increase for June with 481,441 passengers served, the busiest month in the airport’s history. This figure compares to a June 2023 passenger count of 432,126.

ORF’s total over the first six months of 2024 increased 10.2% representing 2,296,938 passengers compared to 2,084,108 passengers during the same period last year, it said.

In other activity, 4,087,224 pounds of cargo were shipped in and out of the airport last month, a 22% decrease compared to 5,241,337 pounds of cargo shipped in June 2023, it noted. From January to June, cargo pounds shipped through ORF decreased 22.1%, representing 23,516,860 cargo pounds versus 30,188,094 cargo pounds during the first six months of the prior year.

The above-mentioned figures reflect service by scheduled airlines Allegiant, American, Breeze, Delta, Frontier, Southwest, Spirit and United, as well as charter airlines. All-cargo carriers include Federal Express and UPS.

VersAbility Resources Introduces Next Generation Leadership Team

VersAbility Resources recently announced the addition of new executives to its leadership team and the promotion of managers into new roles, a combined effort that aims to usher the 70-year-old nonprofit serving people with disabilities into its next era, it said.

  • Casey Roberts, Executive Vice President of Strategy and Development, joins VersAbility after serving as Executive Director of New Horizons Regional Education Centers, bringing extensive experience and expertise to VersAbility that will help drive organizational growth and development and propel the organization forward in reaching its strategic goals, it said.
  • Michael Tomchick, a former U.S. Air Force Officer with experience in both business and medical fields, brings his diverse experience to the role of Chief Financial Officer.
  • Amarita Strange joins VersAbility as the new Vice President of Human Resources, following leadership roles at Howmet Aerospace and Newport News Shipbuilding.
  • John Rodenberg joins the team as the Vice President of Marketing and Development with expertise honed over a career in philanthropic development.

Among the internal promotions: Ebonee Atkinson was promoted to Vice President of Community Living; Dave Neary is the new Vice President of Government Contracting; and LaKisa Ward is now Vice President of Programming and Operations.

VersAbility Resources is a leading provider of comprehensive services for people with disabilities of all ages. Headquartered in Hampton, the nonprofit provides early childhood, day support, residential, and diverse employment programs.

To learn more about VersAbility and its mission, visit versability.org.

Sentara Health Plans and Virginia Children’s Care Network Launch Innovative Value-Based Partnership

Sentara Health Plans (SHP) and Virginia Children’s Care Network (VCCN), a clinically integrated network run by community pediatricians across the region and supported by Children’s Hospital of Richmond at VCU (CHoR), recently announced a new value-based care partnership focusing on comprehensive care coordination for Medicaid members and reducing avoidable healthcare events.

The partnership expects to drive better childhood health outcomes, particularly with childhood immunizations and wellness visits

The value-based care arrangement aligns the quality improvement goals of SHP and VCCN with those of the Virginia Department of Medical Assistance Services (DMAS), the state agency which oversees Virginia Medicaid, Sentara said. DMAS establishes quality improvement priorities and performance expectations for managed care plans across the Commonwealth and Sentara Health Plans worked with VCCN to directly tie those performance measures into the value-based partnership.

Under the value-based partnership, VCCN will receive monthly funding from SHP to support population health activities, with the opportunity to receive additional funds on an annual basis based on quality outcomes. When VCCN’s efforts effectively bend the cost curve and produce high-quality results at a lower cost of care, SHP will share in those savings with VCCN.

ABNB’S Victoria Bartelme Receives Certified Fraud Examiner Credential

Victoria Bartelme (ABNB)

Victoria Bartelme, a Fraud Analyst in the Risk Management department at ABNB recently received her Certified Fraud Examiner credential.

This credential means that she has passed the requirements and tests related to financial transactions, fraud schemes, investigations, fraud prevention and deterrence.

Bartelme has been an employee at ABNB for three years and previously worked as a Member Service Representative at its Yorktown location.

Bartelme holds a bachelor’s degree in criminal justice from Old Dominion University.

BayPort Foundation Awards $100,000 in Scholarships to 8 Working Adults, 11 College Students, and 19 High School Seniors

The BayPort Foundation recently announced it has awarded $100,000 in 11 different scholarship types to a total of 38 member students in the surrounding local communities attending a college, university, trade, or vocational school.

Since 1961, BayPort Credit Union has supported member students in funding their educational pursuits it said, noting over that time, it has awarded over $1 million in scholarships. Today, the credit union’s philanthropic arm, the BayPort Foundation, continues its mission by providing tuition assistance.

Scholarship applications are scored on financial need, academic achievements, school and community involvement, and a written essay, it said. In addition, students must be pursuing a degree or certification at an accredited college, university, trade, or vocational school.

For more information and to view the entire voluntary series, visit BayPort’s YouTube channel. See the list of recipients here.

Bar Association Elects New Officers

The Williamsburg Bar Association recently held its annual meeting last week and approved a new slate of officers:

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