Press Release

Chemical Financial Corporation Announces Senior Management Changes

Company Release - 5/14/2012 11:07 AM ET

MIDLAND, Mich., May 14, 2012 (GLOBE NEWSWIRE) -- Chemical Financial Corporation (CHFC) Chairman David B. Ramaker today announced changes within its senior leadership.


On behalf of the corporation Mr. Ramaker is pleased to announce the following promotions: Leonardo (Len) Amat, Executive Vice President, Chief Risk Management Officer; Lynn Kerber Executive Vice President & Regional President – South; Joel Rahn, Regional President – West; and Robert S. Rathbun, Regional President – East.  

"In announcing these promotions, we celebrate the dedicated leadership, business expertise and commitment to service of four extraordinary individuals. They are outstanding candidates for these positions and we are eager to follow their future contributions. Their ability to execute daily on our financial performance and customer service goals will be an integral component of our success," commented Mr. Ramaker. 

Mr. Amat began his career with Chemical Bank, in 1991.  He was named Vice President and Regional Manager – Commercial Loans in 1998. He has worked extensively at Chemical Bank'sBenton Harbor and Niles community banks in commercial lending, business development and management roles. He was promoted to Community President of the Niles Community Bank in 2002 and Community President of the Benton Harbor Community Bank in 2005.   In 2007, he was promoted to Regional President - South, overseeing the banks operations in Benton Harbor, Niles, Kalamazoo and Marshall/Albion. As Chief Risk Management Officer, he will be responsible for monitoring and mitigating all aspects of enterprise risk including audit, loss prevention, regulatory compliance and security. 

Amat holds a Master of Business Administration degree from the University of Notre Dame and a Bachelor of Business Administration degree, with an emphasis in finance and commercial law and general business from Western Michigan University. In addition, he is a graduate of the American Bankers' Association National Commercial Lending School. Mr. Amat is a current board member of the Berrien County Cancer Service, the Niles-Buchanan YMCA, Lakeland Regional Health System, and Cornerstone Alliance.

Ms. Kerber joined Chemical Bank in 1990.  She has over 25 years-experience in the financial services industry, most recently providing oversight for of the Chemical Bank'sWest Michigan market including community engagement, marketing, and management of the bank's retail, commercial banking and private banking groups. With this promotion and transfer, she will assume leadership of Chemical Bank'sSouth Region, comprised of the community bank's located in Benton Harbor, Niles, Kalamazoo, Marshall/Albion and Holland.    

Kerber holds a Master of Business Administration degree and Bachelor of Business Administration degree from Western Michigan University, and is a graduate of the Lee Honors College at WMU. She has completed Financial Training Resources Sales Training and Michigan Bankers Association/Risk Management Association Commercial Lending. An active member of the West Michigan community, Kerber currently serves on the boards of the Grand Rapids Symphony, YMCA of Greater Grand Rapids, Wedgwood Christian Services, South Haven Hospital Foundation, City of South Haven Local Finance Development and Brownfield Authorities, West Michigan Lakeshore Certified Development Corporation, is the immediate past president of Community Action House and has been active in various RMA chapters. Lynn was named an Inforum Inner Circle honoree in 2011, Lakeshore Athena honoree in 2010, a YWCA Tribute Award honoree in 2011, and was recognized in March 2012 as one of the Grand Rapid's Business Journal's "50 Most Influential Women in West Michigan".

Mr. Rathbun joined Chemical Bank in 1987, working in Corporate Loan Review and Corporate Compliance before transferring to Commercial Lending in 1997. In 2003, he was promoted to Senior Vice President, Commercial Lending and in 2007 was named Community President of the Midland Community Bank and Senior Lender for the Owosso, Clare and Midland Community Banks. He received a Bachelor of Science in Accounting from Ferris State University and is also a graduate of both the American Bankers Association National Compliance School and Graduate National Compliance School. Extremely active in the Midland community, he was the 2009 Campaign Chair for the United Way of Midland County, is past Chairman and current member of the Operating Board of the Midland Community Center; past Treasurer and current member of the Midland Country Club Board of Directors; past Chairman and Executive Committee Member of the Midland Area Chamber of Commerce; 1997 graduate of Leadership Midland and 2009 Graduate of the Great Lakes Bay Region Leadership Institute.

Mr. Rahn joined Byron Bank in 2003 as Commercial Loan Manager and was named Executive Vice President, Chief Lending Officer in 2006. Following Chemical Financial Corporations acquisition of Byron Bank in 2010, he was named Senior Vice President, Credit Administration. In assuming leadership of Chemical Bank'sWest Region, Rahn will be responsible for banking operations in and around Grand Rapids. With a banking career spanning 24-years, Mr. Rahn has extensive experience in all aspects of commercial lending including credit analysis and loan administration. A graduate of Central Michigan University, he received a Bachelor of Science in Finance. Mr. Rahn has been involved in various non-profit organizations in Byron Center and the greater Grand Rapids area through the years, including United Way Co-Chair, Junior Achievement, and Leadership Grand Rapids. He recently served as President of the Michigan Banker's Association Regional Chapter, and currently serves as President of the Michigan Board for Bethany Christian Services.

Pending Retirements

In addition, Mr. Ramaker announced the 2013 pending retirements of Dominic Monastiere, Executive Vice President, and Mark D. Ruhle, Regional President. "In defining their retirements, we are able to implement the management transitions necessary to ensure continuity of business operation within our Risk Management division and Chemical Bank'sEast Region," commented Mr. Ramaker.   "As Dom and Mark begin preparations for the next chapter of their personal life, their desire to impact the legacy of Chemical Bank remains unchanged. The ability for their successors to learn and grow from two exceptional community bankers is an educational experience money simply cannot buy."

Mr. Monastiere will celebrate 25-years of service with Chemical Bank in June 2012. Significantly, since 2007 he has served the company as Executive Vice President, Chief Risk Management Officer. Prior to that appointment, he was Community President of Chemical Bank – Bay City.   As Executive Vice President, Special Projects he will oversee and direct Chemical Bank's on-going efforts to enhance business processes while implementing continued improvements to customer service and response. Mr. Monastiere anticipates retiring in May 2013.

A graduate of the University of Wisconsin, Graduate School of Banking, he also holds a BBA, Accounting from Detroit Institute of Technology.  Extremely active in the Bay City community and the Great Lakes Bay Region, Mr. Monastiere currently serves on the board of directors of the Kantzler Foundation, the Smith Foundation, the Saginaw Valley State University Foundation, the Michigan Baseball Foundation, the Great Lakes Bay Regional Alliance, the Michigan Bankers Association Service Corporation, McLaren-Bay Region Medical Center, McLaren Healthcare Corporation, and the Rivers Edge Development Corporation.  

With over 44 years in banking, Mr. Ruhle began his career in 1968 with Chemical Bank. Following relocation to Montana, he returned to Chemical Bank in 1996.  He has worked extensively in the Midland and Clare community banks in commercial lending, business development and management roles, was promoted to Community President of the Clare Community Bank in 2003 and named Regional President – East in 2007.   As Executive Vice President, Credit Administration, he will provide assistance and expertise in the commercial lending arena, with an emphasis on credit quality and loan administration. Mr. Ruhle anticipates retiring in February 2013.

He has an Associate's Degree in Banking & Finance from Northwood University and is a graduate of the University of Wisconsin, Madison'sGraduate School of Banking.  Further, he is a 1997 Graduate of Leadership Midland and former Board Member of the Mid Michigan Community Action Agency, Middle Michigan Development Corporation, The Midland Area Chamber of Commerce and Pardee Cancer Treatment Fund – Clare County. Mr. Ruhle currently serves on the Midland Downtown Development Association board and The Stevens Center for Family Business at Saginaw Valley State University board.

Chemical Financial Corporation is the second-largest bank holding company headquartered and operating branch offices in Michigan. The Corporation operates through a single subsidiary bank, Chemical Bank, with 142 banking offices spread over 32 counties in the lower peninsula of Michigan. At March 31, 2012, the Corporation had total assets of $5.5 billion. Chemical Financial Corporation's common stock trades on The NASDAQ Stock Market under the symbol CHFC and is one of the issues comprising The NASDAQ Global Select Market. More information about the Corporation is available by visiting the investor relations section of its website at

CONTACT: For additional information
         David B. Ramaker, Chairman, CEO & President
         Chemical Financial Corporation
Source: Chemical Financial Corporation