MIDLAND — David Ramaker plans to retire in the third quarter as president and CEO of Chemical Financial Corp.
Ramaker’s pending retirement comes after he orchestrated a series of acquisitions in recent years that made the Midland-based Chemical Financial (Nasdaq: CHFC) the largest bank based in Michigan. He started with the bank 28 years ago as a vice president and rose to become president and CEO of the bank in 2001, and head of the holding corporation a year later.
“David Ramaker forged many positive relationships with customers and the community during his tenure as CEO of Chemical Bank and the corporation. We thank him for his leadership and community involvement and wish him well in his retirement,” lead director Franklin Wheatlake said in a statement today.
To succeed Ramaker, directors appointed Thomas Shafer as president and CEO of Chemical Bank and vice president of the corporation. David Provost was named president and CEO of the corporation.
Both Shafer and Provost joined Chemical with the $1.7 billion acquisition of Talmer Bancorp in August 2016. Provost was the president and CEO of Talmer Bancorp and became vice chairman of Chemical Financial. Shafer was president of Talmer Bank & Trust and COO of the holding company, and was named executive vice president and director of regional and community banking at Chemical following the merger.
“I have a high regard for all that David Ramaker has accomplished at Chemical and I look forward to building on the success and momentum established under his leadership,” Shafer said in a statement.
Chemical Bank has 249 offices in Michigan, northern Indiana and northeastern Ohio with assets of $17.6 billion.