<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(RULE 13D-102)
INFORMATION STATEMENT PURSUANT TO RULES 13D-1 AND 13D-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 7)<F1>
CHEMICAL FINANCIAL CORPORATION
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(Name of Issuer)
COMMON STOCK, $10 PAR VALUE
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(Title of Class of Securities)
16373110-2
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(CUSIP Number)
<F1> 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 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.
SEC 1745 (2/92) Page 1 of 4 pages
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CUSIP No. 16373110-2 13G Page 2 of 4 Pages
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(1) Names of Reporting Persons
S.S. or I.R.S. Identification No. of Above Persons
Chemical Bank and Trust Company
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(2) Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ ]
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
Midland, Michigan
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Number of (5) Sole Voting Power 853,320.650
Shares -----------------------------------------------------
Beneficially
Owned by (6) Shared Voting Power
Each -----------------------------------------------------
Reporting
Person (7) Sole Dispositive Power 927,517.250
With -----------------------------------------------------
(8) Shared Dispositive Power 1,690.850
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
929,208.100
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(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain
Shares* [ ]
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(11) Percent of Class Represented by Amount in Row 9
9.10%
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(12) Type of Reporting Person*
BK
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Securities and Exchange Commission
Schedule 13G
Page 3 of 4 pages
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 OR, IF NONE, RESIDENCE:
333 East Main Street
Midland, Michigan 48640
ITEM 2(C). CITIZENSHIP:
State of Michigan, United States of America
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 RULE 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING 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,
<PAGE>
Securities and Exchange Commission
Schedule 13G
Page 3 of 4 pages
(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; SEE
13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G); SEE Item 7,
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
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Securities and Exchange Commission
Schedule 13G
Page 4 of 4 pages
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned: 929,208.100 shares
(b) Percent of Class: 9.10%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the
vote 853,320.650 shares
(ii) Shared power to vote or to direct the
vote 0 shares
(iii) Sole power to dispose or to direct
the disposition of 921,517.250 shares
(iv) Shared power to dispose or to direct
the disposition of 1,690.850 shares
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
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Securities and Exchange Commission
Schedule 13G
Page 4 of 4 pages
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.
February 13, 1997
Chemical Bank and Trust Company
/S/ BRUCE M. GROOM
Bruce M. Groom
Senior Vice President
and Senior Trust Officer
