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CHEMICAL FINANCIAL CORPORATION COMPLETES ACQUISITION OF KEY STATE BANK; NAME CHANGED TO CHEMICAL BANK KEY STATE

 MIDLAND, Mich., Oct. 22 /PRNewswire/ -- Chemical Financial Corporation (NASDAQ-NMS: CHFC), one of the 10 largest bank holding companies in Michigan, has completed the acquisition of Key State Bank, Owosso, Mich. Upon completion of the transaction, the name of the bank was changed to Chemical Bank Key State.
 Chemical Bank Key State will operate as Chemical Financial's 10th subsidiary bank. Chemical Bank Key State operates eight full-service banking offices, four in the immediate Owosso area, two in the Genesee County townships of Flint and Mount Morris, and two in the Ingham County townships of Lansing and Meridian.
 Holders of Key State Bank common stock will receive 1.017 shares of Chemical Financial Corporation common stock for each one of their Key State Bank shares.
 Chemical Financial Corporation's affiliates now operate 83 Chemical Bank offices in 23 counties across the mid-section of Michigan's Lower Peninsula. CFC Data Corp, Midland, is the corporation's wholly owned data processing subsidiary.
 Chemical Financial Corporation common stock trades on the NASDAQ Stock Market under the symbol CHFC.
 -0- 10/22/93
 /CONTACT: Alan W. Ott of Chemical Financial, 517-839-5333/
 (CHFC)


CO: Chemical Financial Corporation; Key State Bank ST: Michigan IN: FIN SU: TNM

ML -- DE001 -- 5559 10/22/93 07:53 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
Words:205
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