Chemical Bank and Trust Co., Midland, Mich., has elected Aloysius J. Oliver and David B. Ramaker to the board of directors.

Mr. Oliver is currently the executive vice president of Chemical Financial Corp., Chemical Bank's parent company. He will become the holding company's president and chief executive Jan. 1, succeeding Alan W. Ott, who is retiring.

Mr. Ramaker, now president and chief executive of Chemical Bank Key State, Owosso, Mich., will become the Midland-based bank president on Sept. 1. He will assume the title of chief executive upon Mr. Ott's retirement.

Mr. Ott will continue as chairman of both boards following his retirement.

Chemical Financial Corp. has assets of $1.7 billion.

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