Welcome to our dedicated page for Camden Natl news (Ticker: CAC), a resource for investors and traders seeking the latest updates and insights on Camden Natl stock.
Camden National Corporation (NASDAQ: CAC), a leading community bank in Northern New England since 1875, provides investors and stakeholders with essential financial updates through this centralized news hub. Access official press releases, earnings reports, and strategic announcements from one reliable source.
This page aggregates critical developments including digital banking innovations, merger integrations, and community impact initiatives. Users will find updates on wealth management expansions, risk management practices, and regulatory compliance milestones that shape CAC's market position.
Key content categories include quarterly financial results, leadership changes, technology implementations, and community reinvestment programs. Bookmark this page for streamlined access to verified information directly affecting Camden National's operational performance and long-term growth strategy.
Camden National (NASDAQ: CAC) has announced its third quarter 2024 dividend. The board of directors declared a quarterly dividend of $0.42 per share, payable on October 31, 2024, to shareholders of record on October 15, 2024. This quarterly payout results in an annualized dividend yield of 4.27%, based on the September 23, 2024 closing price of the Company's common stock at $39.39 per share as reported by NASDAQ. The announcement was made by Simon R. Griffiths, President and Chief Executive Officer of Camden National
Camden National (NASDAQ: CAC) and Northway Financial, Inc. (OTCQB: NWYF) have announced a merger agreement valued at approximately $86.6 million. The all-stock transaction will create a premier northern New England bank with 74 branches across New Hampshire and Maine, boasting $7.0 billion in assets, $5.1 billion in loans, and $5.5 billion in deposits. The combined entity will operate under the Camden National Bank name.
The merger is expected to be 19.9% accretive to Camden National's 2025 earnings per share and 32.7% accretive to 2026 earnings per share. Subject to regulatory approvals and Northway shareholder approval, the transaction is anticipated to close in the first quarter of 2025. Post-merger, Camden National shareholders will own approximately 86% of the combined company, while Northway shareholders will own about 14%.
Camden National (NASDAQ: CAC) reported Q2 2024 earnings of $12.0 million and diluted EPS of $0.81, down from $13.3 million and $0.91 in Q1 2024. Key highlights include:
- Net interest margin increased to 2.36% from 2.30% in Q1
- Strong asset quality with non-performing loans at 0.23% of total loans
- Common equity ratio of 8.88% and tangible common equity ratio of 7.34%
- Total assets decreased 1% to $5.7 billion
- Loans increased by $18.3 million, driven by commercial and consumer growth
- Deposits decreased 1% to $4.5 billion
- Announced cash dividend of $0.42 per share
The company's performance reflects its strong capital position, disciplined credit culture, and expense management in a challenging economic environment.
Camden National (NASDAQ: CAC) will announce its financial results for the quarter ending June 30, 2024, on July 30, 2024.
A conference call and webcast will be held at 3:00 p.m. Eastern on the same day, hosted by President & CEO Simon Griffiths and EVP & CFO Michael Archer.
Interested parties can join the domestic or international dial-in numbers or connect via the webcast link 10-15 minutes before the event starts. The live webcast will also be accessible on Camden National 's website, with a transcript and replay available post-conference.
On June 25, 2024, Camden National (NASDAQ: CAC) announced that its board of directors declared a quarterly dividend of $0.42 per share. This dividend will yield an annualized return of 5.30%, based on the stock's closing price of $31.72 as of June 24, 2024. The dividend will be paid to shareholders of record on July 15, 2024, with the payment date set for July 31, 2024.
Camden National reported earnings of $13.3 million and diluted EPS of $0.91 for the first quarter of 2024. The company maintained strong asset quality, capital, and liquidity. The financial results showed an increase in adjusted net income and adjusted diluted EPS compared to the previous quarter. The return on average assets, equity, and tangible equity remained solid. Asset quality was highlighted by low past due loans and non-performing assets. Financial condition reflected an increase in total assets and a strategic focus on loan growth. The company announced a cash dividend and initiated a new share repurchase program. Financial operating results showed a rise in net income and non-interest income, along with a decline in net interest income. The negative provision expense was driven by favorable asset quality and loan growth. Non-interest expenses decreased, reflecting cost management actions.
