410-778-1600 Main Branch | 410-778-2181 Washington Avenue Branch | 410-778-1600 Heron Point Branch | 410-778-2265 Automated Telephone Banking

President’s Message: Safe and Sound

To our customers,

In light of the recent news about certain financial institutions, I want you to know that Chesapeake Bank and Trust Company is safe and sound and will continue to maintain its prudent banking principles that have served the community for over 37 years.

One of those principles is the management of our balance sheet. The recent bank failures were due in large part to balance sheet mismanagement. Heavy exposure to interest rate risk left these banks particularly vulnerable to a run. Once the banks were known to be facing solvency issues, word traveled quickly through the venture capital community and deposits fled as quickly as customers could log into their online accounts.

Chesapeake Bank and Trust Company is well-capitalized with a healthy, diversified portfolio of deposits and investments, and we have a strong liquidity position. We have not deviated from our founders’ vision 37 years ago: the safety and soundness of our operations have been and remain our utmost priority.

Rest assured, Chesapeake Bank and Trust is well-positioned to operate business as usual, and will offer the same solid and consistent community banking that you have come to rely on for so many years. Chesapeake Bank and Trust has been built on core assets from a diverse group of long-term business, agricultural, and retail customers. Our deposits have remained very stable in every economic cycle.

We are available for you and welcome the opportunity to answer any questions you may have about your banking needs now and in the future. Please feel free to call me directly at 410.778.1600 or email me at baltieri@chesapeaketrust.com

With warm regards,

Robert A. Altieri
President/CEO Chesapeake Bank & Trust