Camden National Corp
NASDAQ:CAC
Camden National Corp
Camden National Corp. is a bank holding company, which engages in the provision of financial services to individuals and companies through its subsidiary, Camden National Bank. The company is headquartered in Camden, Maine and currently employs 623 full-time employees. The firm is a diversified financial services provider. The primary business of the Company and the Bank is to attract deposits from and extend loans to, consumer, institutional, municipal, non-profit and commercial customers. The Company, through the Bank, provides a broad array of banking and other financial services, including wealth management and trust services, brokerage, investment advisory and insurance services, to consumer, business, non-profit and municipal customers. The Bank has approximately 57 branches, over two locations in New Hampshire, including a branch in Portsmouth and, a commercial loan production office in Manchester, a mortgage loan production office in Braintree, Massachusetts, and approximately 66 automated teller machines (ATMs).
Camden National Corp. is a bank holding company, which engages in the provision of financial services to individuals and companies through its subsidiary, Camden National Bank. The company is headquartered in Camden, Maine and currently employs 623 full-time employees. The firm is a diversified financial services provider. The primary business of the Company and the Bank is to attract deposits from and extend loans to, consumer, institutional, municipal, non-profit and commercial customers. The Company, through the Bank, provides a broad array of banking and other financial services, including wealth management and trust services, brokerage, investment advisory and insurance services, to consumer, business, non-profit and municipal customers. The Bank has approximately 57 branches, over two locations in New Hampshire, including a branch in Portsmouth and, a commercial loan production office in Manchester, a mortgage loan production office in Braintree, Massachusetts, and approximately 66 automated teller machines (ATMs).
Record Earnings: Camden National reported record Q4 net income of $22.6 million, up 6% from the prior quarter, with annual net income of $65.2 million.
Net Interest Margin: Net interest margin expanded by 13 basis points to 3.29% in Q4, reflecting improved deposit cost management and higher loan yields.
Deposit Growth: Deposits increased by 2% over the previous quarter, with high-yield savings balances up 5% in Q4 and 28% for the year.
Loan Portfolio: Home equity lending saw strong performance with 6% growth in Q4 and 18% for the year, although total loans declined 1% in Q4 due to elevated payoffs.
Credit Quality: Credit metrics remain strong, with nonperforming assets at 0.10% of assets and total past due loans at 0.16% of loans; a $3 million charge-off was taken on a commercial real estate loan.
Efficiency and Expenses: The efficiency ratio was 51.69% for Q4, and operating expenses are expected to be $36–37 million in Q1 2026.
Guidance & Outlook: Management expects flat to up 2% loan growth in Q1 2026, with mid-single-digit loan growth for the full year, and low to mid-single-digit deposit growth.
Share Repurchase: A new buyback program was authorized, allowing repurchase of up to 850,000 shares (about 5% of shares outstanding).
