Core Insights - The company reported a strong financial performance for Q4 2025, achieving net income of $22.6 million, a 6% increase from the previous quarter, and a record-setting achievement for the organization [4][9] - The acquisition of Northway Financial has positively impacted the company's growth trajectory, with management expressing confidence in meeting strategic and financial objectives [3][9] - The company is focused on organic growth, particularly in southern markets, and is leveraging its wealth and brokerage divisions to deepen customer relationships [2][3] Loan Performance - Total loans grew organically by 2% for the year, with home equity lending showing strong performance, highlighted by 6% growth in Q4 and 18% organic growth for the year [1] - Although total loans decreased by 1% in Q4, production levels remained comparable to the previous quarters, with the decrease attributed to higher loan payoffs and prepayments [1] - The company maintains a well-diversified loan portfolio, with credit metrics remaining strong, underscoring effective underwriting and risk management [5][6] Financial Metrics - The net interest margin expanded by 13 basis points to 3.29%, contributing to a 5% increase in net interest income between quarters [10][11] - The efficiency ratio improved to below 52%, with a return on average assets of 1.3% for Q4 [4][9] - Noninterest income for Q4 totaled $14.1 million, with expectations for 2026 noninterest income ranging from $12 million to $13 million [12] Digital Strategy and Customer Engagement - The company introduced Family Wallet, a youth banking platform aimed at enhancing financial habits among families, contributing to a 19% year-over-year increase in digital engagement among younger customers [6] - The implementation of automation through over 143 bots has allowed the company to process more than 5 million tasks, freeing up capacity for higher-value customer interactions [7] Capital Management and Future Outlook - The company has initiated a share repurchase program allowing for the repurchase of up to 850,000 shares, or approximately 5% of outstanding shares [14] - The company anticipates flat deposit balances for 2026, despite seasonal fluctuations, supported by recent deposit relationship wins [12][30] - Management remains optimistic about loan growth, with a solid pipeline in both residential and commercial sectors, projecting mid-single-digit growth for the year [20][21]

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Core Insights - Camden National Corporation reported a record-setting fourth-quarter net income of $22.6 million, reflecting a 6% increase from the previous quarter, with diluted earnings per share of $1.33 [4][7] - The company highlighted improvements in core profitability metrics, including a net interest margin (NIM) expansion of 13 basis points to 3.29% and an efficiency ratio around 51.7% [2][7] - Management expects continued growth in net interest income and loan growth, with a forecast of flat to 2% loan growth in Q1 2026 and a mid-single-digit outlook for the remainder of the year [6][14] Profitability Metrics - The return on average assets for the quarter was reported at 1.3%, while the return on average tangible equity was 19.06% [1][2] - The efficiency ratio improved to below 52%, indicating enhanced expense management [2][4] Capital and Credit Quality - The company authorized a share repurchase program for up to 850,000 shares, approximately 5% of shares outstanding, while focusing on capital build and organic growth [5][19] - Credit quality 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 [16][18] Loan and Deposit Growth - Deposits increased by 2% from the previous quarter, with savings balances up 5% and interest checking balances rising 11% [11] - Loan growth was reported at 2% for the year, although total loans declined by 1% in Q4 due to higher payoffs and prepayments [12][14] Future Outlook - Management anticipates a small core NIM gain in Q1 2026, with funding costs expected to improve by approximately 7 to 10 basis points [10][6] - The residential loan pipeline is reported at just over $83 million, with a solid commercial pipeline of just over $77 million, indicating a positive outlook for January [14]

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]