Press Release

Chemical Financial Corporation Declares 2007 Third Quarter Cash Dividend

Company Release - 7/18/2007 8:15 AM ET

MIDLAND, Mich., July 18, 2007 (PRIME NEWSWIRE) -- Chemical Financial Corporation's (Nasdaq:CHFC) Board of Directors is pleased to announce that on July 17, 2007, the Board declared a quarterly cash dividend of $0.285 per share of common stock payable on Friday, September 21, 2007, to shareholders of record on August 31, 2007. The ex-dividend date is August 29, 2007.

Chemical Financial Corporation is the third-largest bank holding company headquartered in Michigan. The Company operates through a single subsidiary bank, Chemical Bank, with 129 banking offices spread over 31 counties in the lower peninsula of Michigan. At March 31, 2007, the Company had total assets of $3.82 billion. Chemical Financial Corporation common stock trades on The Nasdaq Stock Market under the symbol CHFC and is one of the issues comprising the Nasdaq Global Select Market.

CONTACT: Chemical Financial CorporationLori A. Gwizdala, CFO