Welcome to our dedicated page for Camden National Corporation news (Ticker: CAC), a resource for investors and traders seeking the latest updates and insights on Camden National Corporation stock.
Camden National Corporation (NASDAQ: CAC), founded in 1875 and headquartered in Camden, Maine, is the largest publicly traded bank holding company in Northern New England. With assets totaling $5.8 billion and a dedicated workforce of nearly 650 employees, Camden National Corporation is committed to delivering comprehensive banking solutions to its diverse client base.
Subsidiary Operations: The company’s primary subsidiary, Camden National Bank, offers a wide array of consumer and business financial products and services. These include loans, deposits, savings, online banking, and treasury management solutions designed to meet the unique needs of individuals, institutions, municipalities, non-profits, and commercial customers.
Community Presence: Camden National Bank operates through a robust network of 57 banking centers, 76 ATMs, and lending offices across New Hampshire and Massachusetts. It provides personalized service 24/7 through live phone support, ensuring that customers can manage their finances anytime, anywhere.
Wealth Management: Camden National Wealth Management offers specialized services in wealth management, investment, and financial planning, helping clients achieve their financial goals through tailored strategies and expert advice.
Recent Financial Performance: As of September 30, 2023, Camden National reported a net income of $9.8 million and diluted earnings per share of $0.67 for the third quarter, showcasing a strong capital position despite a 21% decrease from the previous quarter. The company’s strategic sale of investment securities worth $66.7 million resulted in a pre-tax loss of $5.3 million, aimed at repositioning its balance sheet in response to the changing interest rate environment.
Leadership and Strategy: With a keen focus on maintaining strong asset quality and optimizing net interest margins, Camden National’s leadership, under the guidance of President and CEO Gregory A. Dufour (retiring end of 2023), is transitioning to Simon Griffiths, ensuring a seamless leadership succession. This strategic move is set to fortify the company's future growth and operational stability.
Technological Advancements: Camden National Bank is dedicated to integrating the latest digital banking technologies to enhance customer experiences, making banking more accessible and efficient.
Recognition: Camden National Corporation has been recognized as one of the Best Places to Work in Maine for the past three years, highlighting its commitment to a positive workplace culture and employee satisfaction.
Camden National Corporation (NASDAQ: CAC) reported a robust net income of $19.7 million for Q1 2021, a 46% increase over the previous year, translating to diluted EPS of $1.31. The company's return on equity stood at 15.00%. Mortgage banking income doubled year-over-year, and an income of $1.9 million was recognized from SBA PPP loans. Non-performing assets were low at 0.20%. Camden National's book value per share grew 8% to $35.64. The company's quarterly dividend was increased by 9% to $0.36. Total assets reached $5.1 billion, reflecting a 4% growth.
Camden National Corporation (NASDAQ: CAC) will release its financial results for Q1 2021 on April 27, 2021. The announcement will be followed by a conference call at 1:00 p.m. Eastern Time, hosted by CEO Gregory A. Dufour and CFO Gregory A. White. Investors can join via a domestic dial-in at (888) 349-0139 or international dial-in at (412) 542-4154, or through the live webcast available on the company's website. Camden National Corporation is the largest publicly traded bank in Northern New England, with $4.9 billion in assets.
Camden National Corporation (NASDAQ: CAC) has announced a quarterly dividend of $0.36 per share, reflecting a 9% increase from the previous dividend of $0.33. Based on the closing price of $47.70 on March 29, 2021, this results in an annualized yield of 3.02%. The dividend is scheduled for payment on April 30, 2021, to shareholders of record by April 15, 2021. CEO Gregory A. Dufour highlighted the company's strong financial performance, which supports its commitment to rewarding shareholders.
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.
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