CAMDEN NATIONAL CORPCAC
CAMDEN NATIONAL CORP New Standards Disclosure
Recent Accounting Pronouncements:
The following provides a brief description of recently issued accounting pronouncements that have been adopted by the Company during:
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The FASB issued ASU 2023-09 to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is to be applied on a prospective basis and is effective for annual periods beginning after December 15, 2024 with early adoption permitted. The adoption of ASU 2023-09 did not have a material impact to the Company’s consolidated financial statements. Refer to Note 20 for updated income tax disclosures that reflect the adoption of ASU 2023-09.
ASU 2025-08, Financial Instruments - Credit Losses (Topic 326): Purchased Loans (“ASU 2025-08”). The FASB issued ASU 2025-08 to better reflect the economics of acquired assets by accounting for most acquired financial assets under the gross-up approach. In accordance with the amendments in this update, loans (excluding credit cards) acquired without credit deterioration (non-PCD) and deemed “seasoned” (i.e., purchased at least 90 days after origination and the acquirer was not involved in the origination of the loans) are accounted for using the gross-up approach at acquisition to enhance comparability and consistency in the accounting for acquired financial assets. ASU 2025-08 is effective for annual reporting periods beginning after December 15, 2026, on a prospective basis, with early adoption permitted. The Company adopted ASU 2025-08 effective January 1, 2026 and the adoption did not have a material impact on its consolidated financial statements.
The following provides a brief description of recently issued accounting pronouncements that have not yet been adopted by the Company:
ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). The FASB issued ASU 2024-03 to improve disclosures about a public business entity’s expenses and to address requests from investors for more detailed information about certain types of expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 with early adoption permitted. The Company does not expect ASU 2024-03 to have a material impact to the disclosures in its consolidated financial statements.
ASU No. 2025-06, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). The FASB issued ASU 2025-06 to modernize the accounting for software costs related to internal-use software. ASU 2025-06 removes all references to project stages and clarifies when an entity is required to start capitalizing software costs. ASU 2025-06 is to be applied on either a prospective basis, modified transition approach or a retrospective transition approach and is effective for annual reporting periods beginning after December 15, 2027 with early adoption permitted. The Company does not expect ASU 2025-06 to have a material impact to its consolidated financial statements.
ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements (“ASU 2025-09”). The FASB issued ASU 2025-09 to clarify certain aspects of the guidance on hedge accounting and to address several incremental hedge accounting issues arising from the global reference rate reform initiative. The FASB believes this update will more closely align hedge accounting with the economics of an entity’s risk management activities as it 1) amends the guidance to allow for different risks to be pooled in the same portfolio for cash flow hedging where applicable and 2) provides greater flexibility and expands eligibility for hedge accounting. ASU 2025-09 is effective for annual reporting periods beginning after December 15, 2026 on a prospective basis for all hedging relationships, with early adoption permitted. The Company does not expect ASU 2025-09 to have a material impact to its consolidated financial statements.
The following provides a brief description of recent U.S. Tax Law Changes:
On July 4, 2025, the OBBBA was signed into law. The OBBBA, among other provisions, makes permanent many of the tax provisions enacted in 2017 as part of the Tax Cuts and Jobs Act that were set to expire at the end of 2025. The Company notes this new legislation does not have a material impact to its consolidated financial statements.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Mar 10, 2023 | |
| 2021 | Mar 11, 2022 | |
| 2020 | Mar 15, 2021 | |
| 2019 | Mar 11, 2020 | |
| 2018 | Mar 13, 2019 | |
| 2017 | Mar 9, 2018 | |
| 2016 | Mar 7, 2017 | |
| 2015 | Mar 11, 2016 | |
About New Standards Disclosures
New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.
Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.