MIDLAND, Mich., May 18 /PRNewswire/ -- Chemical Financial Corporation
common stock (Nasdaq: CHFC) will become one of the securities included in the
Nasdaq Financial-100 Index(R) effective at the beginning of trading on May 24,
2001. The Index comprises the stock of the 100 U.S. financial services
companies with the largest market capitalization among those issues listed on
The Nasdaq Stock Market(SM). Chemical Financial is only the third Michigan
banking company to be a component of the Index, which includes the stock of
banking, insurance and securities companies.
Chemical Financial Corporation has a market capitalization of
approximately $530 million, more than 6,000 shareholders and more than 21
million shares issued and outstanding. The Corporation had total assets at
March 31, 2001 of more than $3.1 billion.
The Corporation is experiencing significant growth in 2001. On January 9,
2001, Chemical Financial consummated its merger with Shoreline Financial
Corporation of Benton Harbor, Michigan, a one-bank holding company with
$1.1 billion in assets. In March, it agreed to acquire four bank branches of
Old Kent and Fifth Third Bancorp that are being divested as a prerequisite to
the merger of Old Kent into Fifth Third. The four branch offices have total
deposits of approximately $150 million. Then, on May 1, 2001, the Corporation
announced that it has signed a letter of intent to acquire Bank West Financial
Corporation, the holding company for Bank West, a Michigan stock savings bank,
in Grand Rapids, Michigan. Bank West has total assets of approximately
$279 million.
Chemical Financial Corporation is a multi-bank holding company
headquartered in Midland, Michigan. Chemical's four subsidiary banks operate
118 "Chemical Bank" offices and two loan production offices spread across 30
counties in the Lower Peninsula of Michigan. The Corporation's common stock
trades on the Nasdaq Stock Market under the symbol "CHFC."
SOURCE Chemical Financial Corporation
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Related links:
http://chemicalbankmi.com
Company News On-Call:
http://www.prnewswire.com/comp/157448.html or fax,
800-758-5804, ext. 157448
CONTACT:
Aloysius J. Oliver, President & CEO,
989-839-5350, or Lori A. Gwizdala, Senior Vice President & Chief
Financial Officer, 989-839-5350, both of Chemical Financial
Corporation
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