Camden National Corporation - CAC STOCK NEWS

Camden National Corporation (NASDAQ: CAC) reported strong financial results for Q4 2020, with net income of $18.3 million and diluted EPS of $1.22, reflecting increases of 20% and 23% year-over-year, respectively. For the full year, net income rose 4% to $59.5 million, with diluted EPS at $3.95. Key metrics included a return on average assets of 1.23% and a tier 1 leverage ratio of 9.13%. The bank achieved a record $1 billion in mortgage originations, bolstered by low-interest rates. The company also maintained robust asset quality, with non-performing assets at just 0.22% of total assets.

Camden National Corporation (NASDAQ: CAC) is set to report its financial and operational results for the quarter and year ended December 31, 2020, on January 26, 2021. A conference call will be held at 3:00 p.m. Eastern on the same day, hosted by President and CEO Gregory A. Dufour and CFO Gregory A. White. Camden National, with $5.2 billion in assets, operates as the largest publicly traded bank holding company in Northern New England, providing a range of financial services through its subsidiary, Camden National Bank.

Camden National Corporation (NASDAQ: CAC) has declared a quarterly dividend of $0.33 per share, yielding an annualized 3.75% based on the stock's closing price of $35.19 on December 21, 2020. The dividend is set to be paid on January 29, 2021, to shareholders on record as of January 15, 2021. Camden National Corporation, the largest bank holding company in Northern New England, reports total assets of $5.2 billion and has a strong commitment to customer service, evidenced by accolades in customer experience.

Camden National Corporation (NASDAQ: CAC) reported a net income of $16.8 million for Q3 2020, a 16% increase from Q3 2019. Diluted EPS rose 18% to $1.11. The bank's total assets increased 16% to $5.2 billion, driven by strong deposit growth of 19%. Loan loss reserves increased to $36.4 million, 1.11% of total loans. Notably, COVID-19 short-term loan deferrals reduced to 5.5% from 16.4%. The total risk-based capital ratio stood at a robust 15.15%. Camden National also announced a cash dividend of $0.33 per share, with an annualized yield of 4.37%.

Camden National Corporation (NASDAQ: CAC) will release its financial results for Q3 2020 on October 27, 2020, followed by a conference call at 3:00 p.m. Eastern. Hosted by CEO Gregory A. Dufour and CFO Gregory A. White, the call will be accessible via dial-in or webcast. Camden National, the largest publicly traded bank in Northern New England, boasts $5.0 billion in assets and has been recognized for its customer service. The meeting will also be available on their website post-event.

Camden National Corporation (NASDAQ: CAC) has declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 4.37% based on the closing stock price of $30.21 on September 28, 2020. The dividend will be payable on October 30, 2020 to shareholders on record by October 15, 2020. As the largest publicly traded bank holding company in Northern New England, Camden National manages $5.0 billion in assets and provides a variety of banking services through its numerous locations and digital platforms.

Camden National Bank announced the promotion of Timothy P. Nightingale to Executive Vice President, Chief Credit Officer, effective September 1, 2020. Ryan A. Smith has also been promoted to Executive Vice President, Commercial Banking. Nightingale, with over 20 years at the bank, will lead credit and underwriting operations. Smith, who joined in 2012, brings over 25 years of banking experience. Both executives have played crucial roles in the growth of Camden National's commercial banking division, contributing to its strong loan portfolio and underwriting management.

Camden National Corporation (NASDAQ: CAC) reported a 17% decrease in net income for Q2 2020 at $10.9 million, with diluted earnings per share (EPS) of $0.73, down 14% year-over-year. The decline is influenced by increased provision expenses due to the COVID-19 pandemic. Conversely, pre-tax, pre-provision earnings rose by 31% to $22.5 million. The company issued over 2,900 Paycheck Protection Program loans and saw total assets grow by 12% to $5 billion. Capital ratios remain robust, with a total risk-based capital ratio of 14.56%.

Camden National Corporation (NASDAQ: CAC) will announce its financial results for Q2 2020 on July 28, 2020. A conference call, led by CEO Gregory A. Dufour and CFO Gregory A. White, will occur at 3:00 p.m. Eastern. Interested listeners can participate via a domestic dial-in at (888) 349-0139 or international at (412) 542-4154, with a web link available on the company’s investor relations site.

Camden National, the largest publicly traded bank in Northern New England, has $4.6 billion in assets and offers comprehensive banking services through its numerous branches.