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Chesapeake Financial Shares board proposes size increase to 13 directors

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Chesapeake Financial Shares board proposes size increase to 13 directors

Chesapeake Financial Shares Inc. urged shareholders to approve a proposal that would increase the maximum number of directors to 13.

The bylaws of the Kilmarnock, Va.-based bank allow for five to 11 directors. The board currently has the maximum number of allowable directors.

Shareholders of record on Feb. 28 are eligible to vote on said proposal, among others, at the annual meeting on April 6.