CHFC 2017 Annual Report

CHEMICAL FINANCIAL CORPORATION ANNUAL REPORT ON FORM 10-K Table of Contents Page Forward-Looking Statements 3 Part I. 4 Item 1. Business 4 Item 1A. Risk Factors 15 Item 1B. Unresolved Staff Comments 28 Item 2. Properties 28 Item 3. Legal Proceedings 28 Item 4. Mine Safety Disclosures 29 Part II. 30 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. Selected Financial Data 33 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 76 Item 8. Financial Statements and Supplementary Data 78 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 162 Item 9A. Controls and Procedures 162 Item 9B. Other Information 165 Part III. 169 Item 10. Directors, Executive Officers and Corporate Governance 169 Item 11. Executive Compensation 169 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 169 Item 13. Certain Relationships and Related Transactions and Director Independence 170 Item 14. Principal Accountant Fees and Services 170 Part IV. 171 Item 15. Exhibits and Financial Statement Schedules 171 Signatures. 174 2