Chemical Financial Corp. (CHFC) reported first-quarter net income of $13.2 million, or $0.48 per share, compared to $12.4 million, or $0.45 per share, last year. Net income rose 7.0% largely due to a reduction in the provision for loan losses of $2.0 million. The Corporation also recognized an increase of $1.5 million in net interest income and significant growth in noninterest income in the first quarter of 2013 over the first quarter of 2012. The increases were offset by higher operating costs in the first quarter of 2013, largely attributable to the branch acquisition transaction.
Net interest income was $47.7 million compared to $46.2 million last year. The increase in net interest income resulted largely from the branch acquisition transaction. Noninterest income was $16.2 million compared to $13.3 million prior year. Excluding the gains from the sales of the investment securities and merchant card servicing business, noninterest income was $3.4 million higher than the first quarter of 2012.
On average, four analysts polled by Thomson Reuters expected the company to report profit of $0.47 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $58.30 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.