MIDLAND, Mich. -- Chemical Financial Corp., a $1.6 billion-asset holding company, reported net income of $4.4 million for the second quarter, 0.8% over the second-quarter of 1993.

Earnings per share for the second quarter were 71 cents, unchanged from a year ago.

For the six months ended June 30, Chemical had net income of $8.5 million, compared to $10.7 million a year ago.

Net income for the first half of 1993 included a nonrecurring net gain of $2 million resulting from the adoption of new accounting rules. Chemical's $8.5 million first-half net income represents a 2.3% decrease from operating earnings of $8.7 million for the 1993 first half.

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