CAMDEN, Maine, Dec. 16, 2025 /PRNewswire/ -- Simon Griffiths, President and Chief Executive Officer of Camden National Corporation (NASDAQ: CAC; the "Company"), announced today that the board of directors of the Company declared a quarterly dividend of $0.42 per share. This quarterly payout results in an annualized dividend yield of 3.68% based on the December 15, 2025 closing price of the Company's common stock at $45.68 per share as reported by NASDAQ. The dividend is payable on January 30, 2026, to shar ...

Core Insights - Camden National Bank has launched Family Wallet, a free youth banking platform aimed at instilling healthy financial habits in children aged 5 to 17 [1][2][3] - The platform allows children to earn, save, and spend money in a secure, parent-controlled environment, reflecting the bank's commitment to innovation and financial education [4][5] Company Overview - Camden National Bank, founded in 1875, is Northern New England's largest publicly traded bank holding company with over $7 billion in assets and 72 banking centers [6] - The bank has a long history of supporting youth education and financial literacy, which is further emphasized by the launch of Family Wallet [2][5] Market Context - Children aged 5 to 17 are estimated to have over $360 billion in spending power, with a significant shift towards debit cards and mobile apps [3] - Family Wallet is designed to meet this trend by providing a secure debit card and a mobile app that empowers children to manage their finances [3] Partnership and Compliance - Camden National Bank partnered with Rego Payment Architectures, Inc. to deliver the Family Wallet platform, ensuring compliance with the Children's Online Privacy Protection Act (COPPA) [4][8] - REGO is recognized for its commitment to child data privacy and offers financial literacy tools for families [8]

Core Insights - Nanobiotix has been admitted to the CAC Mid 60 and SBF 120 indices following the annual review of the Euronext Paris indices, effective after market close on December 19, 2025, which is expected to enhance its visibility among institutional investors and strengthen its presence in European equity markets [1][2]. Company Overview - Nanobiotix is a late-stage clinical biotechnology company focused on physics-based therapeutic approaches aimed at improving treatment outcomes for cancer and other major diseases [1][4]. - The company is headquartered in Paris, France, and has been listed on Euronext Paris since 2012 and on the Nasdaq Global Select Market since December 2020 [5]. Strategic Significance - The inclusion in the CAC Mid 60 and SBF 120 indices reflects the financial markets' confidence in Nanobiotix's long-term strategy and the potential of its nanotherapeutic solutions [3]. - The company aims to create sustainable value for patients, partners, and shareholders while advancing toward key milestones in physics-based medicine [3]. Intellectual Property - Nanobiotix holds over 25 umbrella patents related to three nanotechnology platforms, which have applications in oncology, bioavailability and biodistribution, and disorders of the central nervous system [6].

Core Viewpoint - The Baldwin Group is merging with CAC Group to create the largest majority colleague-owned, publicly-traded insurance broker in the United States, enhancing their capabilities and market presence [2][7]. Company Overview - The Baldwin Group is a leading independent insurance brokerage and advisory firm, while CAC Group is recognized for its specialty and middle-market insurance brokerage services [2][12]. - The merger is expected to close in the first quarter of 2026, pending regulatory approvals [2]. Strategic Benefits - The merger will significantly enhance Baldwin's Insurance Advisory Solutions segment by integrating CAC's expertise in various industries, including natural resources, private equity, and construction [3][4]. - The combined entity will leverage Baldwin's reinsurance and MGA operations along with CAC's data and analytics platform to provide advanced solutions to a broader client base [4][3]. Financial Aspects - The total upfront consideration for the merger is $1.026 billion, comprising $438 million in cash and 23.2 million shares of Baldwin common stock valued at $589 million [7]. - The transaction is projected to be accretive to Baldwin's 2025 Adjusted EPS by over 20% and is expected to generate more than $2 billion in gross revenue and $470 million in Adjusted EBITDA in 2026 [7]. Market Position - Post-merger, Baldwin will rank as the largest majority colleague-owned, publicly-traded insurance broker in the U.S. according to Business Insurance's 2025 Top 100 U.S. Brokers list [7]. - The combined organization will have nearly 5,000 colleagues serving clients across various platforms [5]. Leadership Insights - Trevor Baldwin, CEO of The Baldwin Group, emphasized the complementary nature of the two firms and the enhanced capabilities that the merger will bring [6]. - Erin Lynch, CEO of CAC Group, highlighted the merger's potential to accelerate their distinctive specialty expertise and client success focus [8].

Acquisition and Integration - The Company completed the acquisition of Northway Financial, Inc. on January 2, 2025, in an all-stock transaction valued at $96.5 million, issuing 2.3 million shares, representing 14% of its outstanding shares[32][33]. - The acquisition added 17 branches in New Hampshire, increasing the Company's total to 72 branches and assets to $7.0 billion as of September 30, 2025[34]. - The Company recognized $56.8 million in goodwill from the Northway acquisition, reflecting expected synergies from operational integration[36]. - The Company incurred $9.2 million in non-recurring merger-related costs during the nine months ended September 30, 2025[35]. - The acquisition is expected to enhance profitability and shareholder value through growth opportunities and broader product offerings[34]. - The Company assumed customer repurchase agreements of $65.5 million through the acquisition of Northway on January 2, 2025[123]. Financial Performance - For the three and nine months ended September 30, 2025, the Company reported $3.8 million and $12.4 million, respectively, of net loan accretion attributable to fair value discounts on acquired loans[39]. - The Company reported total revenues of $65,398,000 for the three months ended September 30, 2025, compared to $59,084,000 for the same period in 2024, representing an increase of approximately 22.5%[51]. - Net income for the three months ended September 30, 2025, was $21,442,000, up from $16,624,000 in the same period of 2024, reflecting a growth of about 29.5%[51]. - The Company’s total net income available to common shareholders for the nine months ended September 30, 2025, was $42,601,000, compared to $38,326,000 in 2024, reflecting an increase of 5.9%[166]. - Diluted EPS for the nine months ended September 30, 2025, was $2.51, slightly down from $2.62 in 2024[166]. Loan and Asset Management - The total loans amounted to $5,002,927,000, an increase from $4,115,259,000 as of December 31, 2024, representing a growth of approximately 21.5%[71]. - The commercial loans segment reached $2,653,209,000, up from $2,094,749,000, indicating a growth of about 26.6%[71]. - The retail loans segment increased to $2,349,718,000 from $2,020,510,000, reflecting a growth of approximately 16.2%[71]. - The Company established an allowance for credit losses of $3.1 million on acquired PCD loans at the acquisition date[41]. - The allowance for credit losses (ACL) on loans decreased by $7.5 million to $45.5 million, primarily due to a $10.7 million partial charge-off of a syndicated commercial loan[85]. - The provision for loan losses, excluding acquired non-PCD loans, totaled $12.7 million, driven mainly by the partial charge-off of the syndicated commercial loan[86]. Securities and Investments - The fair value of the Company's trading securities as of September 30, 2025, was $5.6 million, an increase from $5.2 million as of December 31, 2024[52]. - The total amortized cost of AFS debt securities as of September 30, 2025, was $935,635,000, with a fair value of $889,765,000, indicating unrealized losses of $53,785,000[53]. - The Company transferred securities with a fair value of $520.3 million from AFS to HTM in 2022, with unrealized losses of $72.1 million at the time of transfer[54]. - The fair value of acquired bond investments at the acquisition date was estimated using quoted broker pricing and an independent third-party pricing service[44]. - The fair value of derivatives designated as hedging instruments was $8.5 million as of September 30, 2025, with notional amounts of $60 million[138]. Capital and Regulatory Compliance - As of September 30, 2025, the total risk-based capital ratio for Camden National Corporation was 13.47%, exceeding the minimum requirement of 10.50%[152]. - The Tier 1 risk-based capital ratio was 12.47%, above the minimum requirement of 8.50%[152]. - The common equity Tier 1 risk-based capital ratio stood at 11.17%, surpassing the minimum requirement of 7.00%[152]. - The Company and Bank's regulatory capital ratios met the requirements for being considered "well capitalized" as of both September 30, 2025, and December 31, 2024[152]. - The Company actively monitors its regulatory capital and risk-weighted assets in response to changes in GAAP and regulatory standards[155]. Credit Quality and Risk Assessment - The Company categorizes each portfolio segment into classes by credit risk characteristic, applying credit quality indicators to assess risk and adequacy of the ACL on loans[90]. - Performing loans include those that are current and those past due less than 90 days, while non-performing loans are those past due over 90 days and non-accrual loans[91]. - The overall risk assessment indicates a significant portion of loans are classified as Pass (Grades 1-6), reflecting a stable credit quality across various segments[94]. - The commercial real estate non-owner-occupied loans past due over 90 days totaled $4,456,000 as of September 30, 2025[96]. - The Company closely monitors its loan portfolio, placing loans on non-accrual status when payment is not expected as scheduled[96]. Other Comprehensive Income and Non-Interest Income - Total non-interest income within the scope of ASC 606 for the three months ended September 30, 2025, was $10,554 thousand, an increase of 16.3% from $9,076 thousand in the same period of 2024[163]. - The total amount of other comprehensive income (loss) for the nine months ended September 30, 2025, was $26,224 thousand, compared to $14,453 thousand for the same period in 2024, reflecting an increase of 81.5%[158]. - The debit card interchange income for the three months ended September 30, 2025, was $3,704 thousand, an increase of 16.8% from $3,169 thousand in the same period of 2024[163]. - The service charges on deposit accounts for the three months ended September 30, 2025, increased to $2,570 thousand, up 18.5% from $2,168 thousand in the same period of 2024[163].

Financial Data and Key Metrics Changes - Camden National 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] - 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% [5][6] - Non-interest income reached $14.1 million, an 8% increase over the second quarter, driven by strong client engagement [7][14] - Mortgage banking income remained 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 market demand [6] - Average deposits increased by 2%, reflecting seasonal inflows and customer confidence [6][14] Company Strategy and Development Direction - The company is focused on disciplined capital deployment and enhancing long-term shareholder value through dividends [5] - Strategic investments are being made in talent acquisition and expanding treasury management services into new markets [8] - The company aims to maintain a low efficiency ratio while investing in growth opportunities [26][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the loan portfolio despite economic uncertainties [6][7] - The company anticipates continued momentum in loan growth and non-interest income, particularly in the New Hampshire market [18][45] - Future rate cuts by the Federal Reserve are expected to positively impact net interest margin [22][42] Other Important Information - The company recorded a charge-off of $10.7 million related to a telecommunications loan, reflecting proactive risk management [7][15] - Digital engagement among customers under 45 has grown 11% year over year, indicating successful digital strategy implementation [8] Q&A Session Summary Question: Loan growth and pricing dynamics - Management noted strong momentum in commercial and small business loans, with home equity loans up 54% year over year [18] Question: Margin outlook with Federal Reserve rate cuts - The company is well-positioned for rate cuts, expecting margin expansion of 5 to 10 basis points in the next quarter [22][24] Question: Expense dynamics and growth outlook for 2026 - Management indicated that operating expenses may increase due to incentives and legacy contracts, but efficiency remains a priority [31][32] Question: Credit quality and provision outlook - Management expressed confidence in maintaining a low allowance for credit losses, reflecting strong portfolio health [34][39] Question: Fee income growth and future trends - The company is optimistic about continued growth in fee income, particularly in brokerage and wealth management services [48]

Financial Data and Key Metrics Changes - Camden National 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% [5][12] - The return on average tangible equity was reported at 19.1% for the third quarter [5][12] Business Line Data and Key Metrics Changes - Annualized loan growth was 4%, reflecting a commitment to profitable organic expansion [5] - Average core deposits grew by 2%, with savings deposit balances increasing by 5% [6] - Non-interest income reached $14.1 million, an 8% increase over the second quarter [14] Market Data and Key Metrics Changes - The committed loan pipeline totaled $116 million as of September 30 [6] - Credit quality metrics remained solid, with non-performing assets decreasing to 12 basis points of total assets [7][15] Company Strategy and Development Direction - The company is focused on disciplined capital deployment and enhancing long-term shareholder value through dividends [5] - Strategic investments are being made in talent acquisition and expanding treasury management services into new markets [8] - The company aims to deepen relationships with existing customers through advice-driven engagement and digital innovations [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall health of the loan portfolio despite economic uncertainties [6][7] - The company anticipates continued momentum in loan growth and non-interest income, with a focus on maintaining a strong efficiency ratio [26][32] - Future rate cuts by the Federal Reserve are expected to positively impact net interest margin [22][42] Other Important Information - The company has implemented automation across the enterprise, processing over 5 million items and saving significant operational 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, small business, and home equity loans, with home equity up 54% year-over-year [18][19] Question: Margin outlook with Federal Reserve rate cuts - The company is positioned for margin expansion with expected rate cuts, projecting a 5-10 basis point increase next quarter [22][24] Question: Expense dynamics and growth outlook for 2026 - Management indicated that operating expenses may increase due to incentives and legacy contracts, with a focus on maintaining an efficiency ratio in the mid-50s [31][32] Question: Credit quality and provision outlook - Management expressed confidence in maintaining a low provision level, reflecting strong credit quality in the diversified portfolio [34][39] Question: Fee income growth and future trends - The company is optimistic about continued growth in fee income, particularly in brokerage and wealth management services [48]

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]

Core Insights - Camden National Corporation reported record net income of $21.2 million for Q3 2025, a 51% increase compared to Q2 2025, with diluted earnings per share (EPS) of $1.25, marking the strongest quarterly performance since 2021 [1][2][15] - The successful acquisition and integration of Northway Financial, Inc. earlier in the year positions the company for accelerated growth and sustained shareholder value [2] Financial Condition - As of September 30, 2025, total assets reached $7.0 billion, reflecting a 1% increase since June 30, 2025 [3] - Total loans amounted to $5.0 billion, also a 1% increase from the previous quarter, driven by a 4% rise in commercial real estate loans and a 5% increase in home equity loans [4] - Deposits totaled $5.4 billion, a 2% decrease from June 30, 2025, but average deposits grew by 2% excluding brokered deposits [5] - The company's common equity Tier 1 risk-based capital ratio was 11.17%, well above regulatory requirements [6] Asset Quality - The asset quality remained strong, with non-performing assets at 0.12% of total assets and past-due loans at 0.16% of total loans as of September 30, 2025 [8] - The allowance for credit losses on loans decreased to 0.91% from 1.08% in the previous quarter, reflecting the resolution of a specific syndicated loan [10] Financial Operating Results - Net interest income for Q3 2025 was $51.3 million, a 4% increase from Q2 2025, driven by net interest margin expansion of 10 basis points [11] - Non-interest income rose to $14.1 million, an 8% increase compared to the previous quarter, with strong momentum in fee income business lines [13] - Non-interest expense decreased by 4% to $35.9 million, attributed to reduced merger and acquisition costs following the Northway acquisition [13] Key Ratios - Return on average assets was 1.21%, and return on average equity was 12.75% for Q3 2025 [15] - The GAAP efficiency ratio improved to 54.94% from 60.37% in Q2 2025, indicating enhanced operational efficiency [15]