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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(b) UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 9)<FN1>
CHEMICAL FINANCIAL CORPORATION
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(Name of Issuer)
COMMON STOCK, $1 PAR VALUE
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(Title of Class of Securities)
163731-10-2
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(CUSIP Number)
DECEMBER 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
[FN]
<FN1>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.
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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.
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.
</FN>
Page 1 of 4 pages
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CUSIP No. 163731-10-2 13G Page 2 of 4 Pages
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(1) Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Chemical Bank and Trust Company
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(2) Check the Appropriate Box if a Member of a Group<F*>
(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 1,031,972
Shares ------------------------------------------------------
Beneficially
Owned by (6) Shared Voting Power
Each ------------------------------------------------------
Reporting
Person (7) Sole Dispositive Power 1,221,190
With ------------------------------------------------------
(8) Shared Dispositive Power 49,810
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,271,000
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(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares<F*>[ ]
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(11) Percent of Class Represented by Amount in Row 9
9.4%
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(12) Type of Reporting Person<F*>
BK
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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, $1 par value
ITEM 2(e). CUSIP NUMBER:
163731-10-2
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b)
OR (c), 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;
(e) [ ]Investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
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(f) [ ] Employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [ ] Parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] Savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [ ] Church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(c), CHECK THIS BOX:[ ]
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Securities and Exchange Commission
Schedule 13G
Page 4 of 4 pages
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned: 1,271,000.0 shares
(b) Percent of Class: 9.4%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 1,031,972.0 shares
(ii) Shared power to vote or to direct the vote 0 shares
(iii) Sole power to dispose or to direct the
disposition of 1,221,190.0 shares
(iv) Shared power to dispose or to direct the
disposition of 49,810.0 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
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the
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ordinary course of business and were not acquired and are not held for
the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction
having that 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 3, 1999
Chemical Bank and Trust Company
/s/Bruce M. Groom
Bruce M. Groom
Senior Vice President
and Senior Trust Officer
