MIDLAND, Mich., May 12 /PRNewswire-FirstCall/ -- Chemical Financial
Corporation (Nasdaq: CHFC) today announced that it has reached an agreement
to acquire two branch offices from First Financial Bank, N.A.,
headquartered in Hamilton, Ohio. The offices, located at 241 West State
Street, Hastings, Michigan and 12850 West M-179 Highway, Wayland, Michigan,
operating as Sand Ridge Bank, will further strengthen Chemical Bank's
branch network as part of its Grand Rapids Community Bank. The branches
have combined deposits and loans of approximately $44 million and $71
million, respectively.
David B. Ramaker, Chairman, President and CEO of Chemical Financial
Corporation, commented, "We are extremely pleased with the opportunity to
expand Chemical Bank's branch banking network. We believe strongly in
providing quality personalized customer service and feel our brand of
community banking will create perfect chemistry with the residents of
Hastings and Wayland. We look forward to servicing the banking needs of our
new customers, and becoming a part of their communities." The transaction
is expected to close in the third quarter of 2006 and is subject to
regulatory approval.
Chemical Financial Corporation is the fourth largest bank holding
company headquartered in Michigan. The Company operates through a single
subsidiary bank, Chemical Bank, with 124 banking offices spread over 32
counties in the lower peninsula of Michigan. At March 31, 2006, the Company
had total assets of $3.74 billion. Chemical Financial Corporation common
stock trades on The Nasdaq Stock Market under the symbol CHFC and is one of
the issues comprising the Nasdaq Financial 100 index.
SOURCE Chemical Financial Corporation
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Related links:
http://chemicalbankmi.com
http://www.prnewswire.com/comp/157448.html/
CONTACT:
David B. Ramaker, Chairman, President and CEO
of Chemical Financial Corporation, +1-517-839-5269
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