SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 30, 1996
CHEMICAL FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
MICHIGAN
(State or Other
Jurisdiction of Incorporation)
0-8185 38-2022454
(Commission (IRS Employer
File Number) Identification No.)
333 E. MAIN STREET
MIDLAND, MICHIGAN 48640
(Address of Principal Executive Offices) (Zip Code)
(517) 839-5350
(Registrant's Telephone Number, Including Area Code)
ITEM 5. OTHER EVENTS.
Unaudited Results of Operations for One Month Ended June 30, 1996.
To provide a period that Chemical Financial Corporation can use to
demonstrate that the risk sharing requirements for pooling-of-interests
accounting treatment (as required by the Securities and Exchange
Commission's Codification of Financial Reporting Policies, Section 201.01)
are satisfied, stated below are the combined condensed unaudited results of
operations of Chemical Financial Corporation for the one (1) month ended
June 30, 1996, which covers at least thirty (30) days of post merger
operations after the merger of State Savings Bancorp, Inc. with and into
Chemical Financial Corporation.
ONE MONTH ENDED
(In thousands, except per share information) JUNE 30, 1996
INTEREST INCOME:
Interest and fees on loans $5,578
Interest on investment securities 3,384
Interest on federal funds sold 355
Total interest income 9,317
INTEREST EXPENSE:
Interest on deposits 3,626
Interest on short-term borrowings 81
Interest on long-term debt 54
Total interest expense 3,761
NET INTEREST INCOME 5,556
Provision for possible loan losses 85
NET INTEREST INCOME AFTER PROVISION FOR
POSSIBLE LOAN LOSSES 5,471
OTHER INCOME 996
OPERATING EXPENSES 3,928
INCOME BEFORE INCOME TAXES 2,539
Income taxes 837
NET INCOME $1,702
NET INCOME PER COMMON SHARE:
Primary $ .17
Fully Diluted $ .17
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NOTE: The above operating results for the one month period ended June
30, 1996 are not necessarily indicative of the results that may be expected
for the year ending December 31, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CHEMICAL FINANCIAL CORPORATION
Dated: July 15, 1996 By: /S/ LORI A. GWIZDALA
Lori A. Gwizdala
Chief Financial Officer
(Principal Financial Officer)
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