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January 22, 2021
DETROIT (AP) Chemical Financial Corp. (TCF) on Friday reported fourth-quarter earnings of $91.4 million.
The bank, based in Detroit, said it had earnings of 58 cents per share. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The financial holding company posted revenue of $538.7 million in the period. Its revenue net of interest expense was $508.6 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $500.6 million.
For the year, the company reported profit of $222.8 million, or $1.39 per share. Revenue was nearly unchanged at $2.05 billion.