CAMDEN NATIONAL CORP

Listed Company

CACCIK 0000750686NasdaqAcceleratedNational Commercial BanksMaineFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$65.16M

Total Assets

$6.97B

Equity

$696.56M

Shares Out

16.93M

Op. Cash Flow

$63.91M

+ 13F Filer

Business

Camden National Corp is a publicly held bank holding company that provides commercial and consumer banking and related financial services through its banking subsidiary. It offers deposit-taking, lending, mortgage origination, treasury and cash management, wealth management and trust, brokerage, investment advisory and insurance products and digital banking platforms. Key business segments include Camden National Bank, Camden National Wealth Management and Camden Financial Consultants, with brokerage and advisory services offered through a third-party broker-dealer arrangement. The company serves customers across Northern New England — primarily Maine, New Hampshire and select areas of Massachusetts — via branch offices, online and mobile channels.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	273	215	195	145	125
Taxable interest on investments	41	27	24	23	19
Nontaxable interest on investments	2	2	3	3	3
Dividend income	2	2	1	531,000	412,000
Other interest income	3	4	3	1	765,000
Total interest income	321	250	226	173	148
Interest on deposits	97	96	79	20	8
Interest on borrowings	17	19	13	3	605,000
Interest on subordinated debentures	4	2	2	2	3
Total interest expense	117	117	94	25	—
Net interest income	203	132	132	148	137
Provision for loan losses:	22	−404,000	2	5	—
Net interest income after provision (credit) for credit losses	181	133	130	143	141
Mortgage banking income, net	4	3	3	4	14
Brokerage and insurance commissions	7	6	5	4	4
Bank-owned life insurance	3	3	2	2	2
Net loss on sale of securities	0	0	−10	−912,000	0
Other income	6	5	4	4	4
Total non-interest income	53	45	31	41	50
Salaries and employee benefits	80	64	60	62	61
Furniture, equipment and data processing	18	14	13	13	12
Net occupancy costs	11	8	8	8	8
Debit card expense	7	5	5	5	4
Consulting and professional fees	5	4	5	4	4
Regulatory assessments	4	3	3	2	2
Merger and acquisition costs	9	1	0	0	—
Amortization of core deposit intangible assets	6	556,000	592,000	625,000	655,000
Other real estate owned and collection costs, net	270,000	201,000	42,000	29,000	−101,000
Other expenses	15	12	13	13	12
Total non-interest expense	155	112	107	107	104
Income before income tax expense	79	65	54	77	87
Income Tax Expense	13	12	10	16	18
Net Income	65	53	43	61	69
Basic earnings per share (in dollars per share)	3.86	3.63	2.98	4.18	4.62
Diluted earnings per share (in dollars per share)	3.84	3.62	2.97	4.17	4.6
Cash dividends declared, per share (in dollars per share)	1.68	1.68	1.68	1.62	1.48
Weighted average number of common shares outstanding	17	15	15	15	15
Diluted weighted average number of common shares outstanding	17	15	15	15	15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	72	62	78	51	39
Interest-bearing deposits in other banks (including restricted cash)	26	153	22	25	182
Total cash, cash equivalents and restricted cash	97	215	100	75	221
Trading securities	6	5	5	4	4
Available-for-sale securities, at fair value (amortized cost of $972,686 and $673,003, respectively)	930	594	626	696	1,507
Held-to-maturity securities, at amortized cost (fair value of $457,821 and $470,824, respectively)	485	518	545	547	1
Other investments	26	23	15	13	10
Total investments	1,448	1,139	1,191	1,259	1,523
Loans held for sale, at fair value (book value of $14,965 and $10,923, respectively)	15	11	10	5	6
Loans	4,965	4,115	4,098	—	—
Less: allowance for credit losses on loans	−45	−36	−37	−37	—
Net loans	4,920	4,080	4,061	—	—
Goodwill	152	95	95	95	95
Core deposit intangible assets, net	43	415,000	971,000	2	2
Bank-owned life insurance	112	104	102	99	97
Premises and equipment, net	51	37	35	36	38
Deferred tax assets	51	40	42	50	19
Other assets	86	84	78	77	101
Total assets	6,975	5,805	5,715	5,672	5,500
Non-interest checking	1,113	926	968	1,142	1,280
Interest checking	1,704	1,484	1,554	1,764	1,352
Savings and money market	1,911	1,512	1,364	1,440	1,459
Certificates of deposit	679	532	610	300	310
Brokered deposits	131	180	102	181	208
Total deposits	5,538	4,633	4,597	4,827	4,609
Short-term borrowings	582	501	486	265	212
Long-term borrowings	1	0	—	—	0
Junior subordinated debentures	62	44	44	44	44
Accrued interest and other liabilities	96	96	92	84	94
Total liabilities	6,278	5,274	5,219	5,221	4,959
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, no par value: authorized 40,000,000 shares, issued and outstanding 16,924,310 and 14,579,339 on December 31, 2025 and 2024, respectively	216	116	116	115	123
Retained earnings	545	509	481	462	424
Accumulated other comprehensive loss	−64	−95	−102	−126	−6
Total shareholders equity	697	531	495	451	541
Total liabilities and shareholders equity	6,975	5,805	5,715	5,672	5,500

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Originations of mortgage loans held for sale	−246	−223	−190	−152	−437
Proceeds from the sale of mortgage loans	245	224	186	156	485
Gain on sale of mortgage loans, net of origination costs	−3	−2	−2	−3	−13
Depreciation and amortization expense	5	3	3	3	4
Investment securities amortization and accretion, net	2	2	2	4	7
Stock-based compensation expense	3	3	3	3	2
Purchase accounting accretion income, net	−20	−89,000	−145,000	−280,000	−699,000
Net (decrease) increase in derivative collateral received from counterparties	−11	−2	10	1	−60,000
Net gain on sale of premises and equipment	−675,000	0	0	−204,000	0
Net loss on sale of investment securities	0	0	10	912,000	0
Deferred income tax expense	616,000	298,000	1	2	−637,000
Increase in other assets	−3	−6	−9	−4	3
(Decrease) increase in other liabilities	−2	8	6	−2	43,000
Net cash provided by operating activities	64	61	68	105	143
Cash Acquired from Acquisition	48	0	0	—	—
Proceeds from sales(1)	56	0	127	36	0
Proceeds from sales of available-for-sale debt securities	109	89	73	174	322
Purchase of available-for-sale debt securities	−235	−60	−116	−95	−759
Proceeds from maturities and recoveries of held-to-maturity securities	43	34	25	23	0
Purchase of held-to-maturity securities	5	0	21	43	0
Net increase in loans	−70	−20	−90	−579	−212
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock	−26	−17	−31	−44	−68,000
Proceeds from sale of Federal Home Loan Bank Stock	24	10	29	41	1
Purchase of premises and equipment	−6	−6	−3	−2	−2
Proceeds from the sale of premises and equipment	3	0	0	466,000	0
Proceeds, Financing Receivable, Previously Written off, Recovery	535,000	623,000	566,000	—	372,000
Net cash (used in) provided by investing activities	−56	30	−7	−488	−649
Net (decrease) increase in deposits	−67	36	−230	218	604
Net proceeds from borrowings less than 90 days	16	150	85	54	49
Proceeds from Bank Term Funding Program	0	225	135	0	0
Repayments of Bank Debt	0	360	0	—	—
Repayments of Federal Home Loan Bank long-term advances	−45	0	0	0	−25
Proceeds from Federal Home Loan Bank long-term advances	1	0	0	—	—
Common stock repurchases	0	−2	−2	−10	−10
Equity issuance costs	0	−246,000	0	0	—
Issuance of restricted stock, net of repurchase for tax withholdings	−537,000	−224,000	−260,000	−355,000	−263,000
Cash dividends paid on common stock	−28	−25	−25	−24	−21
Finance lease payments	−335,000	−287,000	−168,000	−160,000	−152,000
Net cash (used in) provided by financing activities	−125	24	−36	237	581
Net (decrease) increase in cash, cash equivalents and restricted cash	−117	115	24	−145	75
Interest paid	117	117	92	25	11
Income taxes paid	6	9	11	13	19
Cash dividends declared, not paid	7	6	6	6	6
Change in fair value hedges presented within residential real estate loans and other assets	4	1	968,000	0	0
Noncash or Part Noncash Acquisition, Value of Assets Acquired	1,108	0	0	—	—
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed	1,117	0	0	—	—
Stock Issued	96	0	0	—	—

Filings

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Holdings (13F)

Portfolio as of 2021-03-31 · 434 positions

Reported AUM

$1.00B

Holdings

434

Top sector

$1.00B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$1.00B	100.0%

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