Chemical Financial Profit Rises

(RTTNews) - Chemical Financial Corp. (CHFC) Monday reported fourth-quarter net income of $14.4 million or $0.48 per share, up 14.3% from $11.7 million or $0.42 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter was higher at $51.3 million compared with $48 million in the prior year. Non interest income fell to $13.6 million from $14.7 million in the prior year.

Analysts estimated revenues of $66.37 million for the quarter.

Net interest margin for the quarter declined to 3.63% from 3.74% last year.

Meanwhile, loan-loss provision for the quarter decreased to $2 million from $5 million a year ago.