UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information Statement pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
CHEMICAL FINANCIAL CORPORATION
(Name of Issuer)
COMMON STOCK $10 PAR VALUE
(Title of Class of Securities)
16373110-2
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
The filing of this schedule shall not be construed as an admission by
Chemical Bank and Trust Company that it is, for purposes of Section 13(d)
or 13(g) of the Securities Exchange Act of 1934 or for any other purposes,
the beneficial owner of any securities covered by this schedule.
CUSIP No. 16373110-2 13G
___________________________________________________________________________
(1) Names of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Chemical Bank and Trust Company - Trust Department
___________________________________________________________________________
(2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
___________________________________________________________________________
(3) SEC Use Only
___________________________________________________________________________
(4) Citizenship or Place of Organization Midland, Michigan
___________________________________________________________________________
Number of (5) Sole Voting Power 849,708
Shares Beneficially __________________________________________________
Owned by
Each (6) Shared Voting Power 0
Reporting __________________________________________________
Person With
(7) Sole Dispositive Power 920,574
__________________________________________________
(8) Shared Dispositive Power 17,118
___________________________________________________________________________
(9) Aggregate Amount Beneficially Owned by Each
Reporting Person 937,692
___________________________________________________________________________
(10) Check Box if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
___________________________________________________________________________
(11) Percent of Class Represented by Amount in Row 9 10.20%
___________________________________________________________________________
(12) Type of Reporting Person BK
___________________________________________________________________________
ITEM 1(A). NAME OF ISSUER:
Chemical Financial Corporation
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
333 East Main Street
Midland, Michigan 48640
ITEM 2(A). NAME OF PERSON FILING:
Trust Department of Chemical Bank and Trust Company
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
333 East Main Street
Midland, Michigan 48640
ITEM 2(C). CITIZENSHIP:
United States
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, $10 par value
ITEM 2(E). CUSIP NUMBER:
16373110-2
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON IS A:
(a) [ ] Broker or dealer registered under Section 15 of the
Act,
(b) [X] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act,
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund,
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G),
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned: 937,692 shares beneficially owned
(b) Percent of Class: 10.20%
(c) Number of Shares as to which such person has:
(i) Sole voting power: 849,708
(ii) Shared voting power: 0
(iii) Sole dispositive power: 920,574
(iv) Shared dispositive power: 17,118
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have
the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
CHEMICAL BANK AND TRUST
COMPANY
Dated: As of May 31, 1995 By /S/ BRUCE M. GOOM
Bruce M. Goom
Senior Vice President and
Senior Trust Officer
