MIDLAND, Mich. and GRAND RAPIDS, Mich., Aug. 29 /PRNewswire/ -- Aloysius
J. Oliver, President and CEO of Chemical Financial Corporation (Nasdaq: CHFC)
("Chemical"), and Ronald A. Van Houten, President and CEO of Bank West
Financial Corporation (Nasdaq: BWFC), announced today that the shareholders of
Bank West Financial Corporation voted to approve the merger of the two
companies. Of the total shares voted, 95.3% of Bank West Financial
Corporation's shares were voted to approve the merger. The merger was also
approved by the Federal Reserve System on August 22, 2001 and by the Federal
Deposit Insurance Corporation on August 24, 2001. These approvals permit
Chemical and Bank West Financial Corporation to proceed to conclude the
merger, which the companies anticipate will occur in mid-September 2001.
Bank West Financial Corporation is a holding company and parent company of
Bank West located in Grand Rapids, Michigan. Bank West Financial Corporation
will be merged into Chemical in the transaction. Chemical is a financial
holding company headquartered in Midland, Michigan. Upon completion of this
transaction, Chemical will have 128 banking offices and assets of $3.5
billion.
Chemical common stock is traded on The Nasdaq Stock Market under the
symbol "CHFC" and Bank West is traded on The Nasdaq Stock Market under the
symbol "BWFC."
SOURCE Chemical Financial Corporation and Bank West Financial
Corporation
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Related links:
http://chemicalbankmi.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/157448.html
CONTACT:
Aloysius J. Oliver, President and Chief
Executive Officer of Chemical Financial Corporation,
+1-989-839-5350; or Ronald A. Van Houten, President and Chief
Executive Officer of Bank West Financial Corporation,
+1-616-785-3400
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