CHFC 2017 Annual Report

Chemical Financial Corporation Consolidated Statements of Financial Position in thousands, except per share data) ( December 31, 2017 December 31, 2016 Assets Cash and cash equivalents: Cash and cash due from banks 226,003 $ 237,758 Interest-bearing deposits with the Federal Reserve Bank and other banks 229,988 236,644 Total cash and cash equivalents 455,991 474,402 Investment securities: Available-for-sale, at fair value 1,963,546 1,234,964 Held-to-maturity, at i d amort ze cost ( ifa r lva ue of $662,906 dan $608,531, respectively) 677,093 623,427 Total investment securities 2,640,639 1,858,391 Loans held-for-sale, at fair value 52,133 81,830 Loans 14,155,267 12,990,779 Allowance for loan losses (91,887) (78,268) Net loans 14,063,380 12,912,511 Premises and equipment 126,896 145,012 Loan servicing rights ($63,841 and $48,085 measured at fair value, respectively) 63,841 58,315 Goodwill 1,134,568 1,133,534 Other intangible assets 34,271 40,211 Interest receivable and other assets 709,154 650,973 Total assets $ 19,280,873 $ 17,355,179 Liabilities Deposits: Noninterest-bearing 3,725,779 $ 3,341,520 Interest-bearing 9,917,024 9,531,602 Total deposits 13,642,803 12,873,122 Interest payable and other liabilities 181,203 134,637 Securities sold under agreements to repurchase with customers 415,236 343,047 Short-term borrowings 2,000,000 825,000 Long-term borrowings 372,882 597,847 Total liabilities 16,612,124 14,773,653 Shareholders' equity Preferred stock, no par value: Authorized – 2,000,000 shares at 12/31/17 and 12/31/16, none issued — — Common stock, $1.00 par value per share: Authorized — 135,000,000 shares at 12/31/17 and 100,000,000 shares at 12/31/16 Issued and outstanding — 71,207,114 shares at 12/31/17 and 70,599,133 shares at 12/31/16 71,207 70,599 Additional paid-in capital 2,203,637 2,210,762 Retained earnings 419,403 340,201 Accumulated other comprehensive loss (25,498) (40,036) Total shareholders' equity 2,668,749 2,581,526 Total liabilities and shareholders' equity $ 19,280,873 $ 17,355,179 See accompanying notes to Consolidated Financial Statements. 79