Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Condensed Statement of Financial Position

Condensed financial statements of Chemical Financial Corporation (parent company) only follow:

	December 31,
Condensed Statements of Financial Position	2015		2014
	(In thousands)
Assets:
Cash at subsidiary bank	$	28,884	$	45,820
Investment in subsidiaries	1,023,285		745,045
Premises and equipment	3,632		3,601
Goodwill	1,092		1,092
Other assets	13,051		4,654
Total assets	$	1,069,944	$	800,212
Liabilities and Shareholders' Equity:
Other liabilities	$	10,426	$	3,079
Non-revolving line of credit	25,000		—
Subordinated debentures	18,544		—
Shareholders' equity	1,015,974		797,133
Total liabilities and shareholders' equity	$	1,069,944	$	800,212

Parent Company Condensed Statement of Income

	Years Ended December 31,
Condensed Statements of Income	2015		2014		2013
	(In thousands)
Income:
Cash dividends from subsidiaries	$	56,860	$	64,468	$	24,488
Other income	144		95		390
Total income	57,004		64,563		24,878
Expenses:
Interest expense	761		42		—
Operating expenses	7,794		7,200		4,735
Total expenses	8,555		7,242		4,735
Income before income taxes and equity in undistributed net income of subsidiaries	48,449		57,321		20,143
Federal income tax benefit	2,582		2,302		1,556
Equity in undistributed net income of subsidiaries	35,799		2,498		35,109
Net income	$	86,830	$	62,121	$	56,808

Parent Company Condensed Statement of Cash Flows

	Years Ended December 31,
Condensed Statements of Cash Flows	2015			2014			2013
	(In thousands)
Operating Activities:
Net income	$	86,830		$	62,121		$	56,808
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	3,478			2,931			2,854
Gain on sale of available-for-sale investment securities	—			—			(245		)
Depreciation of premises and equipment	318			327			416
Equity in undistributed net income of subsidiaries	(35,799		)	(2,498		)	(35,109		)
Net (increase) decrease in other assets	2,873			1,101			(711		)
Net increase (decrease) in other liabilities	(19,033		)	(2,519		)	563
Net cash provided by operating activities	38,667			61,463			24,576
Investing Activities:
Cash paid, net of cash assumed, in business combinations	(45,267		)	(117,853		)	—
Proceeds from redemption of available-for-sale investment securities	—			—			5,000
Purchases of premises and equipment, net	(320		)	(26		)	(9		)
Net cash provided by (used in) investing activities	(45,587		)	(117,879		)	4,991
Financing Activities:
Cash dividends paid	(36,918		)	(29,528		)	(24,521		)
Proceeds from issuance of common stock, net of issuance costs	—			76,175			53,925
Repayment of subordinated debt obligations	—			(10,310		)	—
Proceeds from issuance of other borrowings	25,000			—			—
Proceeds from directors' stock purchase plan and exercise of stock options	2,473			1,242			806
Cash paid for payroll taxes upon conversion of restricted stock units	(571		)	(701		)	(379		)
Net cash provided by (used in) financing activities	(10,016		)	36,878			29,831
Net increase (decrease) in cash and cash equivalents	(16,936		)	(19,538		)	59,398
Cash and cash equivalents at beginning of year	45,820			65,358			5,960
Cash and cash equivalents at end of year	$	28,884		$	45,820		$	65,358