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Chemical Financial Corporation Declares Fourth Quarter Cash Dividend

    MIDLAND, Mich., Nov. 20 /PRNewswire/ -- Alan W. Ott, Chairman of Chemical
Financial Corporation (Nasdaq: CHFC), announced that today, November 20, 2000,
the board of directors of the Company declared a quarterly cash dividend of
$0.22 per share of common stock payable on Friday, December 15, 2000, to
shareholders of record on December 1, 2000.  The ex-dividend
date is November 29, 2000.
    Chemical Financial Corporation is a multi-bank holding company
headquartered in Midland, Michigan.  The Corporation's ten subsidiary banks
operate 88 "Chemical Bank" offices in 24 counties across the mid-section of
Michigan's lower peninsula.  CFC Data Corp., Midland, is the Company's wholly
owned data processing subsidiary.
    Chemical Financial Corporation common stock trades on the Nasdaq Stock
Market under the symbol "CHFC".


SOURCE Chemical Financial Corporation




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    CONTACT:
    Aloysius J. Oliver of Chemical Financial
    Corporation, 517-839-5352