MIDLAND, MI (WHTC) – Chemical Financial Corporation officials cite the “integration” of the Bank of Holland as a factor in “strong” double-digit percentage gains in earnings per share during the fourth quarter of 2015 and for the entire year.
The Midland-based financial institution reported three-month net incomine of 25.5 million dollars, or 66 cents per dilute share, as compared to 15.3 million, or 46 cents per share, for the same period in 2014. As for all of 2015, Chemical Bank earned 86.8 million dollars, or $2.39 per share, which compares to 61.1 million and nearly two dollars per share the previous year.
The Bank of Holland was one of five entities that Chemical acquired when it bought out Lake Michigan Financial a year ago for 184 million dollars, and its building on Seventh Street was rebranded as a Chemical Bank branch this past fall.
