Loans grew organically by 2% for the year, demonstrating our continued emphasis on profitable expansion supported by strategic talent investments. We remain bullish on home equity lending and saw strong performance in this category throughout the year, highlighted by 6% growth in the quarter and 18% organic growth for the year. While total loans were down 1% for the fourth quarter, our overall production levels for the third quarter and fourth quarters were comparable. This quarter's decrease was driven by ...

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Archer provided more detail, citing fourth-quarter return on average assets of 1.28%, return on average tangible equity of 19.06%, and an efficiency ratio of 51.69%. He said the company has been able to rebuild capital used in the Northway acquisition faster than initially projected, attributing that to the earnings performance following the acquisition and cost takeout initiatives executed in the first half of 2025.Management pointed to several profitability indicators that improved during the quarter, inc ...

Financial Data and Key Metrics Changes - The company reported fourth quarter earnings of $22.6 million, a 6% increase from the prior quarter, marking a record-setting achievement [4] - Key financial performance indicators included a net interest margin expansion of 13 basis points to 3.29%, a non-GAAP efficiency ratio below 52%, and a return on average assets of 1.3% [4][12] - For the year ended December 31, 2025, net income was $65.2 million with diluted earnings per share of $3.84 [11] Business Line Data and Key Metrics Changes - The wealth and brokerage divisions experienced a 15% organic growth of assets under administration, totaling $2.4 billion by December 31, 2025 [5] - Loans grew organically by 2% for the year, with home equity lending showing strong performance, highlighted by 6% growth in the quarter and 18% organic growth for the year [6][7] - Non-interest income for the fourth quarter totaled $14.1 million, remaining relatively flat quarter-over-quarter [14] Market Data and Key Metrics Changes - The company noted a decrease in total loans by 1% for the fourth quarter, primarily due to higher loan payoffs and prepayments [7] - The credit metrics remained strong, with non-performing assets at 10 basis points of total assets and total past due loans at 16 basis points of total loans [7] Company Strategy and Development Direction - The company is focusing on accelerating organic growth through a broader commercial footprint in southern markets and expanding retail products and digital capabilities [5] - There is a strong emphasis on deepening existing customer relationships through advice-led interactions and expanding treasury management solutions [6] - The company is committed to maintaining a resilient balance sheet while driving high-quality growth and delivering value to customers and shareholders [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the loan portfolio and the effectiveness of their credit risk management approach [8] - The company anticipates low to mid-single-digit growth in deposits for 2026, supported by strong performance in high-yield savings products [42] - Management indicated that they are well-positioned for continued growth and are optimistic about the future despite potential challenges in the operating environment [9] Other Important Information - The company announced a new share repurchase program allowing for the repurchase of up to 850,000 shares, approximately 5% of shares currently outstanding [16] - The company is actively managing operating expenses and leveraging automation to improve efficiency [9] Q&A Session Summary Question: What are the trends in deposit costs following the Fed rate cuts? - Management indicated that deposit costs are expected to improve by 7-10 basis points in the first quarter, with some yield compression anticipated [20][21] Question: How is the loan pipeline looking? - The residential pipeline is over $83 million and the commercial pipeline is over $77 million, indicating a solid outlook for loan growth [24] Question: What is the strategy regarding the share repurchase program? - The focus remains on returning capital while also prioritizing organic growth, with share repurchases being opportunistic [26] Question: What is the outlook for operating expenses in 2026? - Management expects operating expenses to be in the mid-50s for the efficiency ratio, reflecting continued investment in the franchise [44] Question: How should the tax rate be viewed going forward? - The effective tax rate is expected to increase slightly, potentially reaching around 21% due to the absence of certain tax credit benefits [47]

Financial Data and Key Metrics Changes - The company reported fourth quarter earnings of $22.6 million, a 6% increase from the prior quarter, marking a record-setting achievement [4] - The net interest margin expanded by 13 basis points to 3.29%, with a non-GAAP efficiency ratio below 52% and a return on average assets of 1.3% [4][12] - For the year ended December 31, 2025, net income was $65.2 million with diluted earnings per share of $3.84 [11] Business Line Data and Key Metrics Changes - The wealth and brokerage divisions experienced 15% organic growth in assets under administration, totaling $2.4 billion by year-end [5] - Loans grew organically by 2% for the year, with home equity lending showing strong performance, highlighted by 6% growth in the quarter and 18% for the year [6][7] - Non-interest income for the fourth quarter totaled $14.1 million, remaining relatively flat quarter-over-quarter [14] Market Data and Key Metrics Changes - The company noted a strong performance in southern markets, with a focus on expanding commercial footprint and retail products [5] - The residential loan pipeline was reported at just over $83 million, while the commercial pipeline was just over $77 million, indicating solid prospects for loan growth [23] Company Strategy and Development Direction - The company is focused on accelerating organic growth through broader commercial reach, retail product expansion, and leveraging wealth and brokerage strengths [5] - There is an emphasis on deepening customer relationships through advice-led interactions and expanding treasury management solutions [6] - The company is also advancing its digital strategy, introducing new products like Family Wallet to enhance customer engagement [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the loan portfolio, with strong credit metrics and proactive management of credit issues [7][8] - The outlook for 2026 includes expectations for low to mid-single-digit growth in deposits, supported by high-yield savings products [41] - The company anticipates maintaining a mid-50s efficiency ratio while continuing to invest in the franchise [43] Other Important Information - A new share repurchase program was announced, allowing the company to repurchase up to 850,000 shares, approximately 5% of outstanding shares [16] - The company reported a provision for credit losses of $3 million, driven by a single charge-off related to a commercial real estate loan [15] Q&A Session Summary Question: What are the trends in deposit costs following Fed rate cuts? - Management indicated a potential improvement of 7-10 basis points in funding costs for the first quarter, with expectations for modest margin expansion [20][21] Question: How is the loan pipeline looking? - The residential pipeline is over $83 million and the commercial pipeline is over $77 million, indicating a solid outlook for loan growth [23] Question: What is the strategy for capital deployment regarding the buyback program? - The focus remains on organic growth, with the buyback program being opportunistic [25] Question: What is the outlook for loan growth and staffing? - The company continues to seek talent in key markets and is optimistic about loan growth, particularly in southern markets [33][34] Question: How should the tax rate be viewed going forward? - The effective tax rate is expected to increase slightly, potentially reaching around 21% due to the absence of certain tax credit benefits [46]

Financial Data and Key Metrics Changes - Camden National reported fourth quarter earnings of $22.6 million, a 6% increase from the prior quarter, marking a record-setting achievement for the organization [4] - The net interest margin expanded by 13 basis points to 3.29%, with a non-GAAP efficiency ratio below 52% and a return on average assets of 1.3% [4][12] - For the year ended December 31, 2025, net income was $65.2 million with diluted earnings per share of $3.84 [12] Business Line Data and Key Metrics Changes - The wealth and brokerage divisions experienced 15% organic growth in assets under administration, reaching $2.4 billion by December 31, 2025 [5] - Loans grew organically by 2% for the year, with home equity lending showing strong performance, highlighted by 6% growth in the quarter and 18% organic growth for the year [6][12] - Non-interest income for the fourth quarter totaled $14.1 million, remaining relatively flat quarter-over-quarter [15] Market Data and Key Metrics Changes - The company noted a solid pipeline for residential loans at over $83 million and commercial loans at over $77 million, indicating a positive outlook for loan growth [25] - The balance sheet remains strong, with regulatory capital levels above internal targets and a loan loss reserve of 91 basis points of total loans [6][17] Company Strategy and Development Direction - Camden National is focusing on accelerating organic growth through a broader commercial footprint in southern markets and expanding retail products and digital capabilities [5] - The company aims to deepen existing customer relationships through advice-led interactions and treasury management solutions [6] - The management emphasized the importance of maintaining a resilient balance sheet while driving high-quality growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the loan portfolio, with strong credit metrics and proactive management of non-performing assets [7][9] - The company anticipates low to mid-single-digit growth in deposits for 2026, supported by high-yield savings products [42] - Management expects a slight increase in the effective tax rate due to the absence of certain tax credit benefits in 2026 [46] Other Important Information - A new share repurchase program was announced, allowing the company to repurchase up to 850,000 shares, or approximately 5% of outstanding shares [18] - The company introduced Family Wallet, a youth banking platform aimed at building healthy financial habits among families [9] Q&A Session Summary Question: Margin trends and deposit costs - Management indicated that deposit costs are expected to improve by 7-10 basis points in the first quarter, with a slight margin expansion anticipated [22][23] Question: Loan growth pipeline - The residential pipeline is over $83 million and commercial pipeline is over $77 million, with expectations for loan growth to be flat to up 2% in the upcoming quarter [25][26] Question: Capital deployment and buyback program - The focus remains on organic growth, with the buyback program being opportunistic [27] Question: Fair value accretion - The fair value accretion for the quarter was reported at $5.3 million, with a modeling range of 4.5 to 4.75 million for future quarters [32][33] Question: Provision for credit losses - The recent provision of $3 million was attributed to specific credit issues, with expectations for normalization in charge-offs moving forward [35][36] Question: Deposit growth expectations - Management is optimistic about deposit growth, targeting low to mid-single-digit growth for the year [42] Question: Operating expenses outlook - An efficiency ratio in the mid-50s is expected as the company continues to reinvest in the franchise [44] Question: Tax rate expectations - The effective tax rate is expected to increase slightly due to the absence of certain tax credits [46] Question: M&A activity - The company remains focused on organic growth but is open to opportunistic M&A in contiguous markets [62][63]

Camden National (CAC) came out with quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.32 per share. This compares to earnings of $1.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.14%. A quarter ago, it was expected that this bank would post earnings of $1.23 per share when it actually produced earnings of $1.24, delivering a surprise of +0.81%.Over the last four quarters, the company has ...

CAMDEN, Maine, Jan. 27, 2026 /PRNewswire/ -- Camden National Corporation (NASDAQ: CAC; "Camden National" or the "Company") today reported earnings for the quarter ended December 31, 2025, of $22.6 million and diluted earnings per share ("EPS") of $1.33, both increases of 6%, when compared to the third quarter of 2025. For the quarter ended December 31, 2025, the Company reported a return on average assets of 1.28%, a return on average equity of 13.01%, and a return on average tangible equity (non-GAAP) of 1 ...

Financial Performance - Fourth quarter 2025 net income reached $22.6 million, a 6% increase from the third quarter of 2025, with diluted EPS of $1.33[1][3] - For the year ended December 31, 2025, net income totaled $65.2 million, a 23% increase year-over-year, with diluted EPS of $3.84, up 6%[2][3] - Net income for the year ended December 31, 2025, was $65,160, up from $53,004 in 2024, representing a 23% increase[22] - Net income for the three months ended December 31, 2025, was $22,559,000, an increase from $21,194,000 in the previous quarter and $14,666,000 in the same quarter of 2024[45] - Adjusted net income for the year ended December 31, 2025, was $74,439,000, compared to $53,432,000 for the year ended December 31, 2024, showing an increase of 39.2%[41] Earnings and Ratios - Diluted EPS for the year was $3.84, compared to $3.62 in 2024, reflecting a 6% increase[22] - Basic earnings per share for the year ended December 31, 2025, increased by 6% to $3.86 from $3.63 in 2024[28] - The adjusted return on average equity for the year ended December 31, 2025, was 11.38%, up from 10.45% in 2024, representing an increase of 8.9%[43] - Return on average assets improved to 1.28% from 1.21% in September 2025 and 0.94% in December 2024[22] - The efficiency ratio improved to 54.16% for the three months ended December 31, 2025, down from 54.94% in the previous quarter and 59.62% in the same quarter of 2024[46] Income Sources - Total interest income for the year ended December 31, 2025, increased by 28% to $320,655,000 compared to $249,557,000 in 2024[28] - Net interest income rose by 53% to $203,257,000 for the year ended December 31, 2025, up from $132,453,000 in 2024[28] - Non-interest income for the year ended December 31, 2025, increased by 18% to $52,522,000 compared to $44,539,000 in 2024[28] - Non-interest income for Q4 2025 remained stable at $14.1 million, with assets under administration in wealth and brokerage businesses growing 11% to $2.4 billion[6] Asset and Loan Growth - Total assets as of December 31, 2025, were $7.0 billion, reflecting a 20% growth during 2025, primarily due to the acquisition of Northway Financial[8] - Total assets increased to $6,974,584, a 20% increase compared to $5,805,138 in December 2024[22] - Total loans reached $5,021,193 thousand, reflecting a growth of 2% from $4,976,010 thousand in the previous quarter and a significant increase from $4,116,313 thousand year-over-year[30] - Loans totaled $5.0 billion as of December 31, 2025, a 1% decrease from the previous quarter, while home equity loans grew 6% in Q4 2025[9] Credit Quality - The allowance for credit losses on loans was 0.91% of total loans, with non-performing assets at 0.10% of total assets as of December 31, 2025[10] - Non-performing loans to total loans ratio was 0.14% for the year ended December 31, 2025, down from 0.17% in the previous quarter, indicating a decrease of 17.6%[38] - The allowance for credit losses (ACL) on loans at the end of the period was $45,276,000, compared to $35,728,000 at the end of the previous year, reflecting an increase of 26.6%[38] - Provision for credit losses for the year ended December 31, 2025, was $22,290,000, compared to a credit of $404,000 in 2024, indicating a significant increase in provisions[28] Shareholder Returns - A cash dividend of $0.42 per share was declared, yielding 3.87% based on the closing share price of $43.38 on December 31, 2025[13] - A new share repurchase program was announced on January 8, 2026, for up to 850,000 shares, representing approximately 5% of outstanding stock[10] Efficiency and Management - The company's efficiency ratios were 54.16% (GAAP) and 51.69% (non-GAAP) for Q4 2025, indicating strong revenue momentum and disciplined expense management[3][7] - Total non-interest expense for the year ended December 31, 2025, increased by 38% to $154,834,000 from $111,936,000 in 2024[28] - The efficiency ratio (non-GAAP) improved to 51.69% from 52.47% in September 2025 and 54.46% in December 2024[22]

Group 1 - Camden National Corporation will report its financial and operating results for the quarter and year ended December 31, 2025 on January 27, 2026 [1] - A conference call and webcast will be hosted by key executives including Simon Griffiths, Michael Archer, and Renée Smyth at 3:00 p.m. Eastern on the same date [1] - The company is Northern New England's largest publicly traded bank holding company with $7.0 billion in assets [3] Group 2 - Camden National Bank operates 72 banking centers in Maine and New Hampshire, providing full-service community banking and digital banking services [3] - The company offers comprehensive wealth management, investment, and financial planning services through Camden National Wealth Management [4]