Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Statements

PARENT COMPANY ONLY FINANCIAL STATEMENTS

Condensed financial statements of Chemical Financial Corporation (parent company) only follow:

	December 31,
Condensed Statements of Financial Position	2012		2011
	(In thousands)
Assets:
Cash at subsidiary bank	$	5,960	$	4,481
Investment securities available-for-sale	4,755		—
Investment in subsidiary bank	579,448		559,410
Premises and equipment	4,309		4,625
Goodwill	1,092		1,092
Other assets	2,598		3,631
Total assets	$	598,162	$	573,239
Liabilities and Shareholders' Equity:
Other liabilities	$	1,821	$	1,510
Shareholders' equity	596,341		571,729
Total liabilities and shareholders' equity	$	598,162	$	573,239

	Years Ended December 31,
Condensed Statements of Income	2012		2011		2010
	(In thousands)
Income:
Cash dividends from subsidiary bank	$	27,550	$	22,000	$	21,300
Other income	92		—		—
Total income	27,642		22,000		21,300
Operating expenses	3,773		3,350		5,116
Income before income taxes and equity in undistributed net income of subsidiary bank	23,869		18,650		16,184
Federal income tax benefit	1,311		1,171		1,335
Equity in undistributed net income of subsidiary bank	25,828		23,229		5,571
Net income	$	51,008	$	43,050	$	23,090

	Years Ended December 31,
Condensed Statements of Cash Flows	2012			2011			2010
	(In thousands)
Operating Activities:
Net income	$	51,008		$	43,050		$	23,090
Share-based compensation expense	1,865			1,517			1,395
Depreciation of premises and equipment	463			456			497
Equity in undistributed net income of subsidiary bank	(25,828		)	(23,229		)	(5,571		)
Net (increase) decrease in other assets	1,033			(975		)	(1,140		)
Net increase (decrease) in other liabilities	394			256			(290		)
Net cash provided by operating activities	28,935			21,075			17,981
Investing Activities:
Cash assumed in business combination	—			—			850
Purchase of investment securities available-for-sale	(4,755		)	—			—
Purchases of premises and equipment, net	(147		)	(365		)	(174		)
Net cash provided by (used in) investing activities	(4,902		)	(365		)	676
Financing Activities:
Cash dividends paid	(22,566		)	(21,964		)	(21,243		)
Proceeds from directors' stock purchase plan and exercise of stock options	260			245			292
Shares issued, net of shares withheld, for restricted stock performance units	(248		)	—			—
Net cash used in financing activities	(22,554		)	(21,719		)	(20,951		)
Net increase (decrease) in cash and cash equivalents	1,479			(1,009		)	(2,294		)
Cash and cash equivalents at beginning of year	4,481			5,490			7,784
Cash and cash equivalents at end of year	$	5,960		$	4,481		$	5,490