Chemical Bank - Overview of The Company

Overview of The Company

Chemical Bank was the principal operating subsidiary of the Chemical Banking Corporation, a bank holding company. As of the end of 1995, prior to its merger with the Chase Manhattan Bank, Chemical was the third largest bank in the United States in terms of total assets with $182.9 billion of assets. The Chemical Banking Corporation was the fifth largest bank holding company in terms of total assets.

Of Chemical's $182.9 billion of total assets, the bank held approximately $82.1 billion of loans, representing a balance between mortgage loans and other consumer loans as well as commercial loans in the U.S. and internationally. Among Chemical's largest international exposure was to Japan, Germany and the United Kingdom. The other assets on the bank's balance sheet included cash as well as various debt and equity securities.

Chemical reported record net income of $1.8 billion for 1995. Chemical's level of capital at the end of 1995 remained strong, with capital adequacy ratios well in excess of regulatory requirements. The Corporation's Tier 1 and Total Capital ratios were 8.5% and 12.1%, respectively.

Chemical was one of the leading banks in the U.S., active both in corporate banking as well as retail banking. Within retail banking, Chemical provided personal and commercial checking accounts, savings and time deposit accounts, personal loans, consumer financing and mortgage banking as well as trust and estate administration.

Chemical's corporate banking business provided a wide variety business loans, leasing, real estate financing, money transfer and cash management among other services. Chemical was among the leading bank lenders to small and medium sized businesses. Chemical also had a significant presence in investment banking as well as underwriting corporate debt and equity securities.