Camden National (NasdaqGS:CAC) Q3 2025 Earnings Call October 28, 2025 03:00 PM ET Company ParticipantsRenée Smyth - Chief Experience and Marketing OfficerMike Archer - CFOSimon Griffiths - CEOConference Call ParticipantsSteve Moss - AnalystMatthew Breese - AnalystDamon DelMonte - Equity Research AnalystOperatorOkay, and welcome to Camden National Corporation's third quarter 2025 earnings conference call. My name is Elliot, and I'll be your operator for today's call. All participants will be in listen-only m ...

Camden National (NasdaqGS:CAC) Q3 2025 Earnings Call October 28, 2025 03:00 PM ET Company ParticipantsRenée Smyth - Chief Experience and Marketing OfficerMike Archer - CFOSimon Griffiths - CEOConference Call ParticipantsSteve Moss - AnalystMatthew Breese - AnalystDamon DelMonte - Equity Research AnalystOperatorOkay, and welcome to Camden National Corporation's third quarter 2025 earnings conference call. My name is Elliot, and I'll be your operator for today's call. All participants will be in listen-only m ...

Financial Data and Key Metrics Changes - Camden National Corporation reported record third-quarter earnings of $21.2 million, a 51% increase over the previous quarter [4][11] - Pre-tax, pre-provision income rose 19% over the prior quarter, reaching $29.5 million [4][11] - The tangible common equity ratio increased by 32 basis points to 7.09%, and tangible book value grew 6% to $28.42 per share [5] - The net interest margin expanded by 10 basis points to 3.16%, with a return on average tangible equity of 19.1% [5][12] Business Line Data and Key Metrics Changes - Annualized loan growth was 4%, with average core deposits growing 2% and savings deposit balances increasing by 5% [5][6] - Non-interest income reached $14.1 million, an 8% increase over the second quarter, with fiduciary and brokerage fee income growing organically by 16% year over year [7][13] - Mortgage banking income was solid, supported by robust summer mortgage activity [8] Market Data and Key Metrics Changes - The committed loan pipeline totaled $116 million as of September 30, indicating strong customer resilience [6] - Non-performing assets decreased by 14 basis points to just 12 basis points of total assets [7] Company Strategy and Development Direction - The company is focused on disciplined capital deployment and enhancing long-term shareholder value through strategic investments and operational excellence [4][5] - There is a commitment to expanding treasury management services into the New Hampshire market and enhancing digital engagement with customers [8][9] - The company aims to maintain a low efficiency ratio while investing in talent acquisition and market expansion [24][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the loan portfolio and the ability to navigate economic uncertainties [6][7] - The outlook for loan growth in 2026 is projected to be mid-single digits, with strong performance expected in home equity and commercial sectors [39][40] - Management anticipates continued positive trends in fee income, particularly in brokerage and wealth management services [42][43] Other Important Information - The company has implemented automation across the enterprise, processing over 5 million items and saving over 74,000 cumulative hours [9] - A community wellbeing day was organized to celebrate the company's 150th anniversary, highlighting its commitment to community engagement [9] Q&A Session Summary Question: Loan growth and pricing dynamics - Management noted strong momentum in commercial and home equity loans, with home equity up 54% year over year, particularly in the New Hampshire market [18][19] Question: Margin outlook with Federal Reserve rate cuts - The company is well-positioned for future rate cuts, expecting margin expansion of 5 to 10 basis points in the next quarter [21][22] Question: Expense dynamics and growth outlook - Anticipated operating expenses for the fourth quarter are projected at $36 to $36.5 million, with a focus on maintaining an efficiency ratio in the mid-50s [26][27] Question: Credit quality and provision outlook - Management expressed confidence in maintaining a low allowance for credit losses, reflecting the health of the diversified loan portfolio [30][33] Question: Loan growth expectations for 2026 - Loan growth is expected to be mid-single digits, with strong performance anticipated in home equity and commercial sectors [39][40]

Financial Data and Key Metrics Changes - Camden National Corporation reported record third quarter earnings of $21.2 million, a 51% increase over the previous quarter [4][13] - Pretax pre-provision income rose 19% over the prior quarter, reaching $29.5 million [13] - The tangible common equity ratio increased by 32 basis points to 7.09%, and tangible book value grew 6% to $28.42 per share [5] - The net interest margin expanded by 10 basis points to 3.16% [6][14] - The return on average tangible equity was reported at 19.1% for the third quarter [6] Business Line Data and Key Metrics Changes - Annualized loan growth was 4%, reflecting a commitment to organic expansion [6] - Average core deposits grew by 2%, with savings deposit balances increasing by 5% [7] - Noninterest income reached a record high of $14.1 million, an 8% increase over the second quarter [16] Market Data and Key Metrics Changes - The committed loan pipeline totaled $116 million as of September 30 [7] - Credit quality metrics remained solid, with nonperforming assets decreasing by 14 basis points to 12 basis points of total assets [8][17] Company Strategy and Development Direction - The company is focused on executing the Northway financial integration strategy following the acquisition [5] - Investments in digital engagement and automation are aimed at enhancing customer service and operational excellence [10] - The company is strategically expanding its treasury management services into the New Hampshire market [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the diversified loan portfolio despite economic uncertainties [8] - The company anticipates continued momentum in loan growth and noninterest income, with a focus on disciplined expense management [11][29] - Future Fed rate cuts are expected to positively impact net interest margin [22][23] Other Important Information - The company recorded a charge-off of $10.7 million related to a syndicated loan participation [8][17] - The company hosted a Community Well-being Day, emphasizing its commitment to community engagement [10] Q&A Session Summary Question: Loan growth and pricing dynamics - Management noted strong momentum in commercial, small business, and home equity loans, with home equity up 54% year over year [20][21] Question: Margin outlook with potential Fed rate cuts - Management indicated expectations for margin expansion of 5-10 basis points in the next quarter, driven by funding costs [22][23] Question: Expense dynamics and growth outlook - Management discussed anticipated increases in operating expenses due to incentives and legacy contracts from the Northway acquisition [33][34] Question: Credit quality and provision outlook - Management expressed comfort with the current allowance for credit losses, indicating confidence in the underlying portfolio [44][45] Question: Loan growth expectations for 2026 - Management projected mid-single-digit loan growth for 2026, with strong performance expected in home equity and commercial loans [52][54] Question: Fee income growth trends - Management highlighted positive trends in fee income, particularly in brokerage and wealth management, with continued investment planned [56][57]

Accessibility StatementSkip Navigation Camden National Reports Record Net Income of $21.2 Million for the Third Quarter CAMDEN, Maine, Oct. 28, 2025 /PRNewswire/ -- Camden National Corporation (NASDAQ: CAC; "Camden National" or the "Company") reported earnings for the quarter ended September 30, 2025, of $21.2 million and diluted earnings per share ("EPS") of $1.25, both increases of 51%, compared to the second quarter of 2025. For the third quarter ended September 30, 2025, the Company reported a return on ...

CONTACT: Michael Archer Executive Vice President Chief Financial Officer Camden National Corporation (800) 860-8821 marcher@CamdenNational.bank FOR IMMEDIATE RELEASE Camden National Corporation Reports Third Quarter 2025 Earnings Camden National Reports Record Net Income of $21.2 Million for the Third Quarter CAMDEN, Maine, October 28, 2025/PRNewswire/--Camden National Corporation (NASDAQ: CAC; "Camden National" or the "Company") reported earnings for the quarter ended September 30, 2025, of $21.2 million a ...

Core Points - Camden National Corporation (NASDAQ: CAC) will report its financial and operating results for Q3 2025 on October 28, 2025 [1] - A conference call and webcast will be hosted by key executives at 3:00 p.m. Eastern on the same day [1] - Camden National Corporation is the largest publicly traded bank holding company in Northern New England, with approximately $6.9 billion in assets [3] Conference Call Details - Interested parties can join the teleconference by dialing in or connecting to the webcast 10-15 minutes prior to the start [2] - Domestic dial-in number is (833) 470-1428, with international access available through a provided link [2] - A live webcast URL and access code for participants are also provided [2] Company Overview - Camden National Corporation was founded in 1875 and operates 72 banking centers in Maine and New Hampshire [3] - The company offers full-service community banking with a focus on digital banking and personalized service [3] - Camden National Wealth Management provides comprehensive wealth management, investment, and financial planning services [4]

Core Points - Camden National Corporation declared a quarterly dividend of $0.42 per share, resulting in an annualized dividend yield of 4.34% based on the closing price of $38.72 per share on September 29, 2025 [1] - The dividend is payable on October 31, 2025, to shareholders of record as of October 15, 2025 [1] Company Overview - Camden National Corporation is the largest publicly traded bank holding company in Northern New England, with approximately $6.9 billion in assets [2] - The company operates 72 banking centers in Maine and New Hampshire, providing full-service community banking and digital banking services [2] Wealth Management Services - Camden National Corporation offers comprehensive wealth management, investment, and financial planning services through Camden National Wealth Management [3]

Euronext to join the CAC 40® Index Euronext celebrates recognition of strong market performance and shareholder value creation since the IPO in 2014 Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 12 September 2025 – Euronext, the leading European capital market infrastructure, is proud to highlight its upcoming inclusion in the CAC 40® Index (PX1), following the quarterly review of the CAC® Family indices performed by the Scientific Committee. Euronext’s entry into the benchmark French index w ...

Core Points - Camden National Corporation has appointed Marie J. McCarthy as Vice-Chair of the Board and will succeed Lawrence J. Sterrs as Chair upon his retirement [2][3] - Mr. Sterrs will retire on December 31, 2025, after 10 years of service, including serving as Chair since 2017 [3][4] - The succession process was described as thoughtful and well-executed, ensuring leadership continuity [4] Leadership Experience - Marie J. McCarthy has over 30 years of leadership experience, notably at L.L.Bean, where she served as Chief Operations Officer [5] - McCarthy has been an independent member of the Camden National Board since 2018, chairing the Compensation Committee and serving on the Technology Committee [4][5] - Her expertise includes operations, customer satisfaction, and corporate real estate management [5] Company Overview - Camden National Corporation is the largest publicly traded bank holding company in Northern New England, with $6.9 billion in assets [7] - The company operates 72 banking centers in Maine and New Hampshire, offering full-service community banking and digital services [7]