Chemical Financial Q2 Profit Rises

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7/23/2012 1:00 PM ET

Chemical Financial Corporation (CHFC: Quote) reported second-quarter net income of $13.9 million or $0.50 per share, up from 11.0 million or $0.40 per share in the same period last year.

On average, 4 analysts polled by Thomson Reuters expected the company to earn $0.43 per share for the quarter. Analysts' estimates typically excludes special items.

Net interest income for the latest quarter rose to $46.4 million from $45.3 million a year ago. Net interest margin increased to 3.80 percent from 3.78 percent last year.

Total non-interest income rose to $13.3 million from $10.9 million in the comparable quarter last year.

Analysts expected the company to report revenues of $58.97 million for the quarter.

Provision for loan losses decreased to $4 million from $7 million last year.

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by RTT Staff Writer

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