MIDLAND, Mich., Oct. 18 /PRNewswire/ -- The Board of Directors of Chemical
Financial Corporation (Nasdaq: CHFC), has authorized management, in its
discretion, to purchase up to 200,000 shares of the Corporation's common
stock. It is anticipated that any purchases of shares will be made through a
program of open market purchases or through privately negotiated purchases,
all subject to availability, regulatory volume and other constraints and
general economic conditions. It is also anticipated that any repurchased
shares will be reserved for later reissue in connection with potential future
stock dividends, employee benefit plans and other general corporate purposes.
The Corporation repurchased 100,000 shares from January 1 - October 15, 1999,
completing its authorization of share repurchasing as of October 15, 1999.
Chemical Financial Corporation is a bank holding company headquartered in
Midland, Michigan. Its family of Chemical Bank affiliates operate 87 full
service offices throughout mid-Michigan. At September 30, 1999, Chemical
Financial Corporation had total assets of $1.9 billion.
SOURCE Chemical Financial Corporation
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CONTACT:
Aloysius J. Oliver 517-839-5352, or Lori A.
Gwizdala, 517-839-5358, both of Chemical Financial Corporation
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