MIDLAND, Mich. (AP) _ Chemical Financial Corp. (CHFC) on Wednesday reported second-quarter earnings of $69.6 million.
The bank, based in Midland, Michigan, said it had earnings of 96 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.06 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The financial holding company posted revenue of $259.6 million in the period. Its revenue net of interest expense was $203.3 million, missing Street forecasts. Four analysts surveyed by Zacks expected $204.8 million.
Chemical Financial shares have climbed 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.94, a decline of 24% in the last 12 months.