EXHIBIT 99.1

For further information:
David B. Ramaker, CEO
Lori A. Gwizdala, CFO
989-839-5350

Chemical Financial Corporation Reports First Quarter 2013 Results

MIDLAND, MI, April 15, 2013 -- -- Chemical Financial Corporation (NASDAQ:CHFC) today announced 2013 first quarter net income of $13.2 million, or $0.48 per diluted share, compared to 2012 fourth quarter net income of $11.7 million, or $0.42 per diluted share, and 2012 first quarter net income of $12.4 million, or $0.45 per diluted share.

"Despite economic conditions that can best be described as tepid, we continue to post strong earnings growth as a result of the combination of lower credit-related costs and higher organic balance sheet growth," noted David B. Ramaker, Chairman, Chief Executive Officer and President of the Corporation. "While asset quality and loan loss metric improvements are expected to continue, we will increasingly look to the combination of asset growth and cost controls to drive future earnings growth. We are confident that our community-focused, relationship-oriented approach and strong financial condition will continue to make Chemical Bank the financial institution of choice for the businesses and residents in the Michigan markets we serve."

Net income of $13.2 million in the first quarter of 2013 was $1.5 million, or 13.5%, higher than the fourth quarter of 2012 largely due to a $2.0 million reduction in the provision for loan losses, which was driven by the continued improvement in the credit quality of the loan portfolio.

Noninterest income increased in the first quarter of 2013 over the fourth quarter of 2012. Operating expenses were the same in both quarters. Higher operating expenses in the first quarter of 2013, largely attributable to the 21 branch banking offices acquired in December 2012 (branch acquisition transaction), were offset by lower performance-based compensation expense and the absence of acquisition-related expenses ($1.8 million incurred in the fourth quarter of 2012).

Net income in the first quarter of 2013 was $0.8 million, or 7.0%, higher than the first quarter of 2012, largely due to a reduction in the provision for loan losses of $2.0 million. The Corporation also recognized an increase of $1.5 million in net interest income and significant growth in noninterest income in the first quarter of 2013 over the first quarter of 2012. These increases were offset by higher operating costs in the first quarter of 2013, largely attributable to the branch acquisition transaction.

The Corporation's return on average assets was 0.91% during the first quarter of 2013, compared to 0.83% in the fourth quarter of 2012 and 0.92% in the first quarter of 2012. The Corporation's return on average shareholders' equity was 9.0% in the first quarter of 2013, compared to 7.7% in the fourth quarter of 2012 and 8.7% in the first quarter of 2012.

The net interest margin (on a tax-equivalent basis) was 3.54% in the first quarter of 2013, compared to 3.74% in the fourth quarter of 2012 and 3.76% in the first quarter of 2012. The decrease in the net interest margin in the first quarter of 2013 was primarily attributable to the branch acquisition transaction, in which the Corporation acquired $340 million in cash and $44

million in loans. The Corporation invested the cash acquired in the branch acquisition transaction in short-term investment securities and intends to deploy these assets into loans by growing its market share in the new markets.

Net interest income was $47.7 million in the first quarter of 2013, $0.3 million lower than the fourth quarter of 2012, although $1.5 million higher than the first quarter of 2012. The increase in net interest income in the first quarter of 2013 over the first quarter of 2012 resulted largely from the branch acquisition transaction. The increase in net interest income attributable to loan growth was largely offset by the net unfavorable impact of interest-earning assets and interest-bearing liabilities repricing during the twelve months ended March 31, 2013.

The provision for loan losses (provision) was $3.0 million in the first quarter of 2013, compared to $5.0 million in both the fourth quarter of 2012 and the first quarter of 2012. Net loan charge-offs were $4.7 million in the first quarter of 2013, compared to $5.2 million in the fourth quarter of 2012 and $5.5 million in the first quarter of 2012.

Noninterest income was $16.2 million in the first quarter of 2013, compared to $14.7 million in the fourth quarter of 2012 and $13.3 million in the first quarter of 2012. Noninterest income in the first quarter of 2013 included $0.8 million of investment securities gains that were attributable to the Corporation's sales of $32 million of available-for-sale investment securities. The proceeds from the sales of the investment securities were used to prepay all of the Corporation's Federal Home Loan Bank (FHLB) advances totaling $34.3 million. The Corporation incurred prepayment fees of $0.8 million in conjunction with the prepayment of the

FHLB advances, with these prepayment fees included in other operating expenses. Net interest income for the remainder of 2013 will be positively impacted by the prepayment of the FHLB advances. During the first quarter of 2012, the Corporation recognized a gain of $1.3 million in noninterest income on the sale of its merchant card servicing business. Excluding the gains from the sales of the investment securities and merchant card servicing business (non-recurring gains), noninterest income in the first quarter of 2013 was $0.7 million higher than the fourth quarter of 2012 and $3.4 million higher than the first quarter of 2012.

The increase in noninterest income of $0.7 million in the first quarter of 2013 (excluding non-recurring gains) over the fourth quarter of 2012 was primarily driven by an increase in revenue generated from customers' debit card usage of $0.7 million and an increase in wealth management revenue of $0.5 million. The increase in debit card revenue was partially attributable to the branch acquisition transaction. These increases were partially offset by a decrease in mortgage banking revenue of $0.5 million.

The increase in noninterest income of $3.4 million in the first quarter of 2013 over the first quarter of 2012 (excluding non-recurring gains) was attributable to increases across all major categories of noninterest income and was driven by growth in the volume of services provided and additional fees/revenue earned as a result of the branch acquisition transaction. Revenue generated from customers' debit card usage was $1.0 million higher, mortgage banking revenue was $0.8 million higher, service charges and fees on deposit accounts were $0.7 million higher and wealth management revenue was $0.5 million higher.

Operating expenses were $42.0 million in both the first quarter of 2013 and fourth quarter of 2012, compared to $37.0 million in the first quarter of 2012. As previously discussed, operating expenses in the first quarter of 2013 included $0.8 million of prepayment fees incurred to prepay the Corporation's FHLB advances. Operating expenses in the fourth quarter of 2012 included acquisition-related transaction expenses of $1.8 million. Excluding the prepayment fees and acquisition-related transaction expenses (non-recurring expenses), operating expenses in the first quarter of 2013 were $1.0 million higher than the fourth quarter of 2012 and $4.2 million higher than the first quarter of 2012.

The $1.0 million increase in operating expenses in the first quarter of 2013 over the fourth quarter of 2012 (excluding non-recurring expenses) was primarily attributable to incremental operating costs associated with the branch acquisition transaction. The incremental operating costs were partially offset by lower credit-related expenses and performance-based compensation. Credit-related expenses, comprised of loan collection costs and other real estate (ORE) net costs, of $1.0 million in the first quarter of 2013 were $0.2 million lower than the fourth quarter of 2012. Performance-based compensation expense of $1.3 million in the first quarter of 2013 was $1.1 million lower than the fourth quarter of 2012.

The $4.2 million increase in operating expenses in the first quarter of 2013 (excluding non-recurring expenses) over the first quarter of 2012 was primarily attributable to incremental operating costs associated with the branch acquisition transaction and a combination of merit and market-driven compensation increases provided to the Corporation's employees effective January 1, 2013.

The Corporation's efficiency ratio was 64.4% in the first quarter of 2013, 63.0% in the fourth quarter of 2012 and 62.1% in the first quarter of 2012.

Total assets were $5.99 billion at March 31, 2013, up from $5.92 billion at December 31, 2012 and $5.45 billion at March 31, 2012. The increase in total assets during the twelve months ended March 31, 2013 was primarily attributable to the branch acquisition transaction that added $404 million in assets on the acquisition date. The Corporation has maintained significant amounts of funds at the Federal Reserve Bank (FRB), with $477 million in balances held at the FRB at March 31, 2013, compared to $514 million at December 31, 2012 and $353 million at March 31, 2012.

Total loans were $4.19 billion at March 31, 2013, up from $4.17 billion at December 31, 2012 and $3.84 billion at March 31, 2012. During the three and twelve months ended March 31, 2013, total loans increased $17.5 million, or 0.4%, and $342 million, or 8.9%, respectively. The increase in loans during the twelve months ended March 31, 2013 was attributable to a combination of improving economic conditions, increased market share, and the acquisition of $44 million of loans in the branch acquisition transaction. The average yield on the loan portfolio was 4.69% in the first quarter of 2013, compared to 4.79% in the fourth quarter of 2012 and 5.10% in the first quarter of 2012.

Investment securities were $961 million at March 31, 2013, compared to $817 million at December 31, 2012 and $867 million at March 31, 2012. The average yield of the investment

securities portfolio was 2.19% in the first quarter of 2013, compared to 2.21% in the fourth quarter of 2012 and 2.28% in the first quarter of 2012.

Total deposits were $5.01 billion at March 31, 2013, up from $4.92 billion at December 31, 2012 and $4.46 billion at March 31, 2012. The Corporation experienced an increase in total deposits of $546 million, or 12.2%, during the twelve months ended March 31, 2013, with the increase largely attributable to the branch acquisition transaction. The Corporation acquired $404 million of deposits on the date of acquisition. Remaining brokered deposits acquired in the Corporation's 2010 acquisition of Byron Bank were $44 million at March 31, 2013, compared to $62 million at December 31, 2012 and $94 million at March 31, 2012. The repricing of matured customer certificates of deposit and the decrease in interest rates on various interest-bearing deposit accounts to reflect lower market interest rates resulted in the Corporation's average cost of funds declining to 0.36% in the first quarter of 2013 from 0.41% in the fourth quarter of 2012 and 0.54% in the first quarter of 2012.

During the first quarter of 2013, the Corporation paid off all of its FHLB advances outstanding. FHLB advances totaled $34.3 million at December 31, 2012 and $42.1 million at March 31, 2012.

At March 31, 2013, the Corporation's tangible equity to assets ratio and total risk-based capital ratio were 8.1% and 13.3%, respectively, compared to 8.1% and 13.2%, respectively, at December 31, 2012 and 8.7% and 13.7%, respectively, at March 31, 2012. The decreases in the

Corporation's equity ratios from March 31, 2012 to March 31, 2013 were attributable to an increase in average assets that resulted from the branch acquisition transaction.

At March 31, 2013, the Corporation's book value was $21.97 per share, compared to $21.69 per share at December 31, 2012 and $21.10 per share at March 31, 2012. At March 31, 2013, the Corporation's tangible book value was $17.34 per share, compared to $17.03 per share at December 31, 2012 and $16.84 per share at March 31, 2012.

The credit quality of the Corporation's loan portfolio continued to show improvement during the first quarter of 2013. The Corporation's nonperforming loans, consisting of nonaccrual loans, accruing loans past due 90 days or more as to principal or interest payments and nonperforming troubled debt restructurings, totaled $86.4 million at March 31, 2013, compared to $90.9 million at December 31, 2012 and $98.5 million at March 31, 2012. At March 31, 2013, nonperforming loans as a percentage of total loans were 2.06%, compared to 2.18% at December 31, 2012 and 2.56% at March 31, 2012.

Other real estate and repossessed assets totaled $18.2 million at March 31, 2013, compared to $18.5 million at December 31, 2012 and $25.9 million at March 31, 2012.

At March 31, 2013, the allowance for loan losses of the originated loan portfolio was $82.3 million, or 2.16% of originated loans, compared to $84.0 million, or 2.22% of originated loans, at December 31, 2012 and $85.6 million, or 2.54% of originated loans, at March 31, 2012. The allowance for loan losses of the originated loan portfolio as a percentage of nonperforming loans

was 95% at March 31, 2013, compared to 92% at December 31, 2012 and 87% at March 31, 2012. The allowance for loan losses of the acquired loan portfolio was $0.5 million at both March 31, 2013 and December 31, 2012, compared to $2.2 million at March 31, 2012. Management believes that the Corporation's acquired loan portfolio totaling $374 million at March 31, 2013 was performing, overall, at or slightly better than original expectations.

Chemical Financial Corporation is the second largest banking company headquartered and operating branch offices in Michigan. The Corporation operates through a single subsidiary bank, Chemical Bank, with 156 banking offices spread over 38 counties in the lower peninsula of Michigan. At March 31, 2013, the Corporation had total assets of $6.0 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 www.chemicalbankmi.com.

Forward-Looking Statements

This press release contains forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and Chemical Financial Corporation (Corporation). Words such as "anticipates," "believes," "confident," "continue," "estimates," "expects," "focus," "forecasts," "intends," "is likely," "judgment," "opinion," "opportunities," "plans," "predicts," "projects," "should," "trend," "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. Such statements are based upon current beliefs and expectations and involve substantial risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These statements include, among others, statements related to future levels of loan charge-offs, future levels of provisions for loan losses, real estate valuation, future levels of nonperforming assets, the rate of asset dispositions, future capital levels, future dividends, future growth and funding sources, future liquidity levels, future profitability levels, the effects on earnings of future changes in interest rates, the future level of other revenue sources, future economic trends and conditions, future initiatives to expand the Corporation's market share, expected cash flows from acquired loans, future effects of new or changed accounting standards, future opportunities for acquisitions, the impact of branch acquisition transactions on the Corporation's business, opportunities to increase top line revenues, the Corporation's ability to grow its core franchise, and future cost savings. All statements referencing future time periods are forward-looking. Management's determination of the provision and allowance for loan losses; the carrying value of acquired loans, goodwill and mortgage servicing rights; the fair value of investment securities (including whether any impairment on any investment security is temporary or other-than-temporary and the amount of any impairment); and management's assumptions concerning pension and other postretirement benefit plans involve judgments that are inherently forward-looking. There can be no assurance that future loan losses will be limited to the amounts estimated. The future effect of changes in the financial and credit markets and the national and regional economies on the banking industry, generally, and on the Corporation, specifically, are also inherently uncertain. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("risk factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. The Corporation undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

Risk factors include, but are not limited to, the risk factors described in Item 1A of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2012. These and other factors are representative of the risk factors that may emerge and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.