```markdown [PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [ITEM 1. FINANCIAL STATEMENTS](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) Presents unaudited consolidated financial statements and detailed notes on accounting policies and financial instruments [Consolidated Statements of Condition (unaudited)](index=4&type=section&id=Consolidated%20Statements%20of%20Condition%20(unaudited)) Consolidated Statements of Condition (In thousands) | Metric | June 30, 2021 | December 31, 2020 | | :--------------------------------------- | :------------ | :---------------- | | **ASSETS** | | | | Total cash, cash equivalents and restricted cash | $103,733 | $145,774 | | Total investments | $1,415,695 | $1,132,812 | | Loans | $3,285,916 | $3,219,822 | | Net loans | $3,253,856 | $3,181,957 | | Total assets | $5,152,069 | $4,898,745 | | **LIABILITIES** | | | | Total deposits | $4,294,114 | $4,005,244 | | Short-term borrowings | $170,413 | $162,439 | | Long-term borrowings | — | $25,000 | | Subordinated debentures | $44,331 | $59,331 | | Total liabilities | $4,606,521 | $4,369,431 | | **SHAREHOLDERS' EQUITY** | | | | Total shareholders' equity | $545,548 | $529,314 | [Consolidated Statements of Income (unaudited)](index=5&type=section&id=Consolidated%20Statements%20of%20Income%20(unaudited)) Consolidated Statements of Income (In thousands, except per share data) | Metric | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total interest income | $36,266 | $39,178 | $71,654 | $79,391 | | Total interest expense | $2,737 | $4,639 | $5,761 | $13,026 | | Net interest income | $33,529 | $34,539 | $65,893 | $66,365 | | (Credit) provision for credit losses | ($3,403) | $9,398 | ($5,359) | $11,173 | | Total non-interest income | $11,320 | $12,060 | $26,535 | $23,463 | | Total non-interest expense | $25,590 | $23,509 | $50,489 | $48,070 | | Net Income | $18,143 | $10,940 | $37,883 | $24,433 | | Basic earnings per share | $1.21 | $0.73 | $2.53 | $1.62 | | Diluted earnings per share | $1.21 | $0.73 | $2.52 | $1.62 | | Cash dividends declared per share | $0.36 | $0.33 | $0.72 | $0.66 | [Consolidated Statements of Comprehensive Income (unaudited)](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(unaudited)) Consolidated Statements of Comprehensive Income (In thousands) | Metric | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Income | $18,143 | $10,940 | $37,883 | $24,433 | | Net change in unrealized gain on available-for-sale securities, net of tax | $2,296 | $7,130 | ($15,213) | $26,060 | | Net change in unrealized loss on cash flow hedging derivatives, net of tax | ($2,364) | $52 | $2,800 | ($702) | | Net change in other comprehensive income for supplemental executive retirement plan and other postretirement benefit plan, net of tax | $171 | $133 | $341 | $266 | | Other comprehensive income (loss) | $103 | $7,315 | ($12,072) | $25,624 | | Comprehensive Income | $18,246 | $18,255 | $25,811 | $50,057 | [Consolidated Statements of Changes in Shareholders' Equity (unaudited)](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity%20(unaudited)) Consolidated Statements of Changes in Shareholders' Equity (In thousands) | Metric | Balance at Dec 31, 2020 | Net income | Other comprehensive loss, net of tax | Stock-based compensation expense | Exercise of stock options and issuance of vested share awards, net of repurchase for tax withholdings | Cash dividends declared ($0.72 per share) | Balance at June 30, 2021 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :---------------------- | :--------- | :----------------------------------- | :------------------------------- | :---------------------------------------------------------------------------------------------------- | :------------------------------------------ | :----------------------- | | Common Stock Amount | $131,072 | — | — | $1,514 | ($308) | — | $132,278 | | Retained Earnings | $377,502 | $37,883 | — | — | — | ($10,783) | $404,602 | | Accumulated Other Comprehensive Income (Loss) | $20,740 | — | ($12,072) | — | — | — | $8,668 | | Total Shareholders' Equity | $529,314 | $37,883 | ($12,072) | $1,514 | ($308) | ($10,783) | $545,548 | [Consolidated Statements of Cash Flows (unaudited)](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20(unaudited)) Consolidated Statements of Cash Flows (In thousands) | Metric | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :---------------------------------------------------- | :----------------------------- | :----------------------------- | | Net cash provided by (used in) by operating activities | $84,505 | ($19,487) | | Net cash used in investing activities | ($372,672) | ($333,038) | | Net cash provided by financing activities | $246,126 | $432,717 | | Net (decrease) increase in cash, cash equivalents and restricted cash | ($42,041) | $80,192 | | Cash, cash equivalents, and restricted cash at end of period | $103,733 | $155,828 | [Notes to the Unaudited Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Unaudited%20Consolidated%20Financial%20Statements) [NOTE 1 – BASIS OF PRESENTATION](index=11&type=section&id=NOTE%201%20%E2%80%93%20BASIS%20OF%20PRESENTATION) Unaudited consolidated interim financial statements prepared per Form 10-Q and GAAP, consolidating the Company and its subsidiary - The financial statements consolidate Camden National Corporation and its wholly-owned subsidiary, Camden National Bank, including Healthcare Professional Funding Corporation and Property A, Inc. (and Property P, Inc. for 2020)[28](index=28&type=chunk) - Assets held by the Bank in a fiduciary capacity are not included in the consolidated statements of condition[28](index=28&type=chunk) - Certain reclassifications to prior period amounts did not impact net income or shareholders' equity[28](index=28&type=chunk) [NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS](index=13&type=section&id=NOTE%202%20%E2%80%93%20RECENT%20ACCOUNTING%20PRONOUNCEMENTS) Company adopted new ASUs on income taxes and reference rate reform, with no material financial impact - ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, was adopted effective **January 1, 2021**, with no material impact[33](index=33&type=chunk) - ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform, as amended by ASU No. 2021-01, was adopted effective **January 1, 2021**, with no material impact[34](index=34&type=chunk) [NOTE 3 – INVESTMENTS](index=13&type=section&id=NOTE%203%20%E2%80%93%20INVESTMENTS) Investment portfolio includes trading, AFS, and HTM debt securities, characterized by high credit quality and fair value reporting Trading Securities Fair Value (In thousands) | Date | Fair Value | | :--------------- | :--------- | | June 30, 2021 | $4,354 | | December 31, 2020 | $4,161 | - Trading securities are held in a rabbi trust for Executive and Director Deferred Compensation Plans[35](index=35&type=chunk) AFS Debt Securities Summary (In thousands) | Metric | June 30, 2021 | December 31, 2020 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------ | :---------------- | | Amortized Cost | $1,381,864 | $1,078,474 | | Unrealized Gains | $25,435 | $38,261 | | Unrealized Losses | ($7,476) | ($922) | | Fair Value | $1,399,823 | $1,115,813 | | Net unrealized gains on AFS debt securities (net of tax) | $14,097 | $29,310 | - No allowance for credit losses was carried on AFS debt securities, as unrealized losses were due to interest rate changes, not credit events, and management does not intend to sell before recovery of amortized cost[37](index=37&type=chunk)[44](index=44&type=chunk) HTM Debt Securities Summary (In thousands) | Metric | June 30, 2021 | December 31, 2020 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------ | :---------------- | | Amortized Cost | $1,294 | $1,297 | | Unrealized Gains | $103 | $114 | | Unrealized Losses | — | — | | Fair Value | $1,397 | $1,411 | - HTM debt securities consist of high credit quality (AA or higher) state and municipal obligations, with immaterial expected credit loss and no allowance carried[48](index=48&type=chunk) Other Investments (FHLBB & FRB Stock) (In thousands) | Investment | June 30, 2021 | December 31, 2020 | | :----------- | :------------ | :---------------- | | FHLBB | $4,850 | $6,167 | | FRB | $5,374 | $5,374 | | Total | $10,224 | $11,541 | [NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS](index=18&type=section&id=NOTE%204%20%E2%80%93%20LOANS%20AND%20ALLOWANCE%20FOR%20CREDIT%20LOSSES%20ON%20LOANS) Loan portfolio includes commercial, residential, home equity, and consumer loans, with ACL decreasing due to improved macroeconomic forecasts Loan Portfolio Composition (In thousands) | Loan Type | June 30, 2021 | December 31, 2020 | | :------------------------------------ | :------------ | :---------------- | | Commercial real estate - non owner-occupied | $1,127,200 | $1,097,975 | | Commercial real estate - owner-occupied | $296,697 | $271,495 | | Commercial | $367,093 | $381,494 | | SBA PPP | $126,064 | $135,095 | | Residential real estate | $1,120,917 | $1,054,798 | | Home equity | $228,690 | $258,573 | | Consumer | $19,255 | $20,392 | | Total loans | $3,285,916 | $3,219,822 | - For the six months ended **June 30, 2021**, the Company originated **1,620** SBA PPP loans totaling **$102.2 million**[59](index=59&type=chunk) Loan Sales and Gains (In thousands) | Metric | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Fixed rate residential mortgage loans sold | $110,800 | $197,800 | $303,400 | $267,000 | | Gains on sale of loans (net of costs) | $2,900 | $4,600 | $9,100 | $6,100 | - The ACL on loans decreased by **$5.8 million** during the six months ended **June 30, 2021**, to **$32.1 million**, driven by an overall improvement in management's forecast of macroeconomic factors[80](index=80&type=chunk) - At **June 30, 2021**, no loans were operating under temporary short-term payment deferral arrangements due to COVID-19, compared to **$26.5 million** at **December 31, 2020**[86](index=86&type=chunk) Non-Accrual Loans (Amortized Cost Basis, In thousands) | Loan Type | June 30, 2021 | December 31, 2020 | | :------------------------------------ | :------------ | :---------------- | | Commercial real estate - non owner-occupied | $86 | $366 | | Commercial real estate - owner-occupied | $136 | $146 | | Commercial | $1,511 | $1,607 | | Residential real estate | $2,725 | $3,477 | | Home equity | $1,396 | $1,996 | | Consumer | $28 | $4 | | Total Non-Accrual Loans | $5,882 | $7,596 | Troubled Debt Restructurings (TDRs) Summary (In thousands) | Metric | June 30, 2021 | December 31, 2020 | | :------------------------------------ | :------------ | :---------------- | | Number of Contracts | 24 | 25 | | Recorded Investment | $2,826 | $3,066 | | Specific Reserve | $428 | $401 | [NOTE 5 – BORROWINGS](index=30&type=section&id=NOTE%205%20%E2%80%93%20BORROWINGS) Borrowings include short-term repurchase agreements and long-term FHLBB and subordinated debentures, with a recent debenture redemption Borrowings Summary (In thousands) | Borrowing Type | June 30, 2021 | December 31, 2020 | | :----------------------- | :------------ | :---------------- | | Short-Term Borrowings: | | | | Customer repurchase agreements | $170,413 | $162,439 | | Long-Term Borrowings: | | | | FHLBB borrowings | — | $25,000 | | Subordinated debentures | $44,331 | $59,331 | - On **April 16, 2021**, the Company exercised its call option on **$15.0 million** of subordinated debentures, at par plus accrued interest[118](index=118&type=chunk) [NOTE 6 – REPURCHASE AGREEMENTS](index=30&type=section&id=NOTE%206%20%E2%80%93%20REPURCHASE%20AGREEMENTS) Repurchase agreements are secured borrowings for liquidity management, collateralized by securities, with counterparty risk mitigated - Repurchase agreements are accounted for as secured borrowings, not sales, as they do not qualify for full transfer of effective control[119](index=119&type=chunk) - Collateral for repurchase agreements primarily includes mortgage-backed securities and government-sponsored enterprise securities[120](index=120&type=chunk) - Risk of counterparty default is minimized by dealing with established firms or holding securities in segregated safekeeping accounts[119](index=119&type=chunk) [NOTE 7 – COMMITMENTS AND CONTINGENCIES](index=31&type=section&id=NOTE%207%20%E2%80%93%20COMMITMENTS%20AND%20CONTINGENCIES) Off-balance sheet commitments and legal contingencies are assessed, with no material adverse effect expected on financial statements Contractual Off-Balance Sheet Commitments (In thousands) | Commitment Type | June 30, 2021 | December 31, 2020 | | :------------------------ | :------------ | :---------------- | | Commitments to extend credit | $753,052 | $723,986 | | Standby letters of credit | $6,441 | $4,735 | | Total | $759,493 | $728,721 | - An ACL on off-balance sheet credit exposures of **$2.5 million** (**June 30, 2021**) and **$2.6 million** (**December 31, 2020**) is maintained[127](index=127&type=chunk) - Management believes that pending and threatened legal actions will not have a material adverse effect on the Company's consolidated financial statements[129](index=129&type=chunk) [NOTE 8 – DERIVATIVES AND HEDGING](index=32&type=section&id=NOTE%208%20%E2%80%93%20DERIVATIVES%20AND%20HEDGING) Uses derivatives to manage interest rate risk, primarily cash flow hedges, with fair values reported and credit risk mitigated - Interest rate swaps are used as cash flow hedges to add stability to interest income and expense, with gains/losses recorded in AOCI and reclassified to earnings[134](index=134&type=chunk)[135](index=135&type=chunk) - Derivatives not designated as hedges include customer loan swaps, fixed-rate mortgage interest rate lock commitments, and forward delivery commitments, with fair value changes recognized directly in earnings[136](index=136&type=chunk)[137](index=137&type=chunk)[138](index=138&type=chunk) Fair Value of Derivative Financial Instruments (In thousands) | Derivative Type | Notional Amount (June 30, 2021) | Derivative Assets Fair Value (June 30, 2021) | Derivative Liabilities Fair Value (June 30, 2021) | | :---------------------------------------- | :------------------------------ | :----------------------------------- | :------------------------------------ | | Interest rate contracts (hedging) | $160,000 | $6,814 | $9,153 | | Customer loan swaps (non-hedging) | $364,977 | $27,648 | $27,648 | | Fixed-rate mortgage interest rate lock commitments (non-hedging) | $37,771 | $870 | $54 | | Forward delivery commitments (non-hedging) | $11,797 | $145 | $17 | - The Company has agreements with derivative counterparties that could require settlement of obligations if the Company defaults on indebtedness or fails to maintain 'well-capitalized' status[151](index=151&type=chunk) [NOTE 9 – BALANCE SHEET OFFSETTING](index=36&type=section&id=NOTE%209%20%E2%80%93%20BALANCE%20SHEET%20OFFSETTING) Does not offset derivative instruments or repurchase agreements, but nets cash collateral under master netting arrangements - The Company does not offset derivative instruments or repurchase agreements on the consolidated statements of condition[152](index=152&type=chunk) - Cash collateral pledged or received is netted against the obligation to return or right to reclaim cash collateral for instruments with the same counterparty under a master netting arrangement[152](index=152&type=chunk) [NOTE 10 – REGULATORY CAPITAL REQUIREMENTS](index=37&type=section&id=NOTE%2010%20%E2%80%93%20REGULATORY%20CAPITAL%20REQUIREMENTS) Company and Bank exceeded all regulatory capital requirements, maintaining 'well capitalized' status, with recent debenture redemption - The Company and Bank's risk-based capital ratios exceeded regulatory requirements, including the capital conservation buffer, at **June 30, 2021** and **December 31, 2020**[161](index=161&type=chunk) - The Bank met the requirements to be considered 'well capitalized' under prompt corrective action provisions for both periods[161](index=161&type=chunk) Regulatory Capital Ratios (June 30, 2021) | Ratio | Camden National Corporation | Camden National Bank | | :------------------------------------ | :-------------------------- | :------------------- | | Total risk-based capital ratio | **15.26%** | **14.14%** | | Tier 1 risk-based capital ratio | **14.23%** | **13.10%** | | Common equity Tier 1 risk-based capital ratio | **12.94%** | **13.10%** | | Tier 1 leverage capital ratio | **9.48%** | N/A | - On **April 16, 2021**, the Company redeemed its **$15.0 million** of subordinated debentures in full, which were previously included in Tier 2 capital[165](index=165&type=chunk) [NOTE 11 – OTHER COMPREHENSIVE INCOME (LOSS)](index=39&type=section&id=NOTE%2011%20%E2%80%93%20OTHER%20COMPREHENSIVE%20INCOME%20(LOSS)) Reconciles changes in other comprehensive income components, including AFS securities, cash flow hedges, and postretirement plans Changes in AOCI Components (After Tax, In thousands) | Component | Balance at Dec 31, 2020 | Other comprehensive (loss) income before reclassifications | Less: Amounts reclassified from AOCI | Balance at June 30, 2021 | | :------------------------------------ | :---------------------- | :--------------------------------------------------------- | :----------------------------------- | :----------------------- | | Net Unrealized Gains (Losses) on AFS Debt Securities | $29,310 | ($15,213) | — | $14,097 | | Net Unrealized Losses (Gains) on Cash Flow Hedges | ($4,626) | $2,504 | ($296) | ($1,826) | | Net Benefit Postretirement Plans | ($3,944) | $350 | $9 | ($3,603) | | Total AOCI | $20,740 | ($12,359) | ($287) | $8,668 | [NOTE 12 – REVENUE FROM CONTRACTS WITH CUSTOMERS](index=40&type=section&id=NOTE%2012%20%E2%80%93%20REVENUE%20FROM%20CONTRACTS%20WITH%20CUSTOMERS) Disaggregates revenue from customer contracts into non-interest income categories, with no significant judgment required Revenue from Contracts with Customers (In thousands) | Revenue Stream | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Debit card interchange income | $3,112 | $2,391 | $5,848 | $4,532 | | Services charges on deposit accounts | $1,517 | $1,337 | $3,056 | $3,349 | | Fiduciary services income | $1,707 | $1,603 | $3,233 | $3,105 | | Investment program income | $939 | $622 | $1,892 | $1,279 | | Other non-interest income | $447 | $423 | $847 | $806 | | Total non-interest income within the scope of ASC 606 | $7,722 | $6,376 | $14,876 | $13,071 | | Total non-interest income not in scope of ASC 606 | $3,598 | $5,684 | $11,659 | $10,392 | | Total non-interest income | $11,320 | $12,060 | $26,535 | $23,463 | [NOTE 13 – EMPLOYEE BENEFIT PLANS](index=41&type=section&id=NOTE%2013%20%E2%80%93%20EMPLOYEE%20BENEFIT%20PLANS) Sponsors unfunded SERPs and provides postretirement benefits, detailing net periodic pension and postretirement benefit costs Net Periodic Pension Cost (SERP) (In thousands) | Component | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Service cost | $126 | $116 | $252 | $232 | | Interest cost | $98 | $115 | $195 | $230 | | Recognized net actuarial loss | $194 | $156 | $389 | $312 | | Total | $418 | $387 | $836 | $774 | Net Periodic Postretirement Benefit Cost (In thousands) | Component | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Service cost | $6 | $7 | $13 | $14 | | Interest cost | $25 | $31 | $51 | $62 | | Recognized net actuarial loss | $29 | $20 | $58 | $39 | | Amortization of prior service credit | ($6) | ($6) | ($12) | ($12) | | Total | $54 | $52 | $110 | $103 | [NOTE 14 – EPS](index=42&type=section&id=NOTE%2014%20%E2%80%93%20EPS) Analyzes basic and diluted EPS using the two-class method, allocating net income between common stock and participating securities EPS Analysis (In thousands, except per share data) | Metric | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income | $18,143 | $10,940 | $37,883 | $24,433 | | Dividends and undistributed earnings allocated to participating securities | ($51) | ($27) | ($105) | ($55) | | Net income available to common shareholders | $18,092 | $10,913 | $37,778 | $24,378 | | Weighted-average common shares outstanding for basic EPS | 14,943,486 | 14,959,851 | 14,930,017 | 15,031,525 | | Dilutive effect of stock-based awards | 63,985 | 37,760 | 64,121 | 37,607 | | Weighted-average common and potential common shares for diluted EPS | 15,007,471 | 14,997,611 | 14,994,138 | 15,069,132 | | Basic EPS | $1.21 | $0.73 | $2.53 | $1.62 | | Diluted EPS | $1.21 | $0.73 | $2.52 | $1.62 | - Nonvested stock-based payment awards with non-forfeitable dividend rights are treated as participating securities in EPS calculation[181](index=181&type=chunk) [NOTE 15 – FAIR VALUE MEASUREMENT AND DISCLOSURE](index=42&type=section&id=NOTE%2015%20%E2%80%93%20FAIR%20VALUE%20MEASUREMENT%20AND%20DISCLOSURE) Outlines fair value measurement practices using a three-level hierarchy for recurring and non-recurring financial instruments - Fair value is determined using a hierarchy: Level 1 (quoted prices in active markets), Level 2 (observable inputs other than Level 1), and Level 3 (unobservable inputs)[186](index=186&type=chunk)[187](index=187&type=chunk)[188](index=188&type=chunk) - The Company elected the fair value option for loans held for sale to align with the economic value of actively traded assets[184](index=184&type=chunk) - Trading securities are **Level 1**; AFS debt securities, loans held for sale, and most derivatives are **Level 2**[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk)[193](index=193&type=chunk) - Collateral-dependent loans, servicing assets, and OREO are measured at fair value on a non-recurring basis, often involving **Level 3** unobservable inputs[200](index=200&type=chunk)[201](index=201&type=chunk)[203](index=203&type=chunk) Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (June 30, 2021, In thousands) | Asset/Liability | Fair Value | Level 1 | Level 2 | Level 3 | | :---------------------------------------------------------------------------------------------------------------------------------------------------------- | :--------- | :------ | :------ | :------ | | **Financial assets:** | | | | | | Trading securities | $4,354 | $4,354 | — | — | | AFS debt securities | $1,399,823 | — | $1,399,823 | — | | Loans held for sale | $15,140 | — | $15,140 | — | | Customer loan swaps | $27,648 | — | $27,648 | — | | Interest rate contracts | $6,814 | — | $6,814 | — | | Fixed-rate mortgage interest rate lock commitments | $870 | — | $870 | — | | Forward delivery commitments | $145 | — | $145 | — | | **Financial liabilities:** | | | | | | Trading securities | $4,354 | $4,354 | — | — | | Customer loan swaps | $27,648 | — | $27,648 | — | | Interest rate contracts | $9,153 | — | $9,153 | — | | Fixed-rate mortgage interest rate lock commitments | $54 | — | $54 | — | | Forward delivery commitments | $17 | — | $17 | — | [ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=48&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management's perspective on financial performance, condition, liquidity, capital, and risk management strategies [FORWARD-LOOKING STATEMENTS](index=48&type=section&id=FORWARD-LOOKING%20STATEMENTS) Contains forward-looking statements subject to risks like economic conditions, interest rates, and regulatory changes - Forward-looking statements are identified by words like 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate,' 'assume,' 'plan,' 'target,' or 'goal' and future or conditional verbs[216](index=216&type=chunk) - Key factors that could cause material differences include economic weakness, changes in monetary/fiscal policies, inflation, competitive pressures, market volatility, IT risks, consumer habits, and changes in laws/regulations[217](index=217&type=chunk) - Statements about the potential effects of the COVID-19 pandemic are also forward-looking and subject to uncertainty[218](index=218&type=chunk)[220](index=220&type=chunk) [NON-GAAP FINANCIAL MEASURES AND RECONCILIATION TO GAAP](index=50&type=section&id=NON-GAAP%20FINANCIAL%20MEASURES%20AND%20RECONCILIATION%20TO%20GAAP) Defines and reconciles non-GAAP financial measures used for performance evaluation and trend analysis - Non-GAAP measures are used for peer group comparison, internal performance analysis, and to remove the impact of unusual items[225](index=225&type=chunk) Key Non-GAAP Financial Measures (June 30, 2021) | Metric | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | June 30, 2021 | December 31, 2020 | | :------------------------------------ | :------------------------------- | :----------------------------- | :------------ | :---------------- | | Return on average tangible equity | **16.60%** | **17.52%** | N/A | N/A | | Efficiency ratio | **56.72%** | **53.76%** | N/A | N/A | | Net interest income (fully-taxable equivalent) | $33,794 | $66,429 | N/A | N/A | | Pre-tax, pre-provision earnings | $19,259 | $41,939 | N/A | N/A | | Adjusted yield on interest-earning assets | **3.14%** | **3.16%** | N/A | N/A | | Adjusted net interest margin (fully-taxable equivalent) | **2.89%** | **2.90%** | N/A | N/A | | Tangible book value per share | N/A | N/A | $29.99 | $28.96 | | Tangible common equity ratio | N/A | N/A | **8.87%** | **8.99%** | | Core deposits | N/A | N/A | $3,676,992 | $3,364,011 | | Average core deposits | $3,645,518 | $3,532,764 | N/A | N/A | | Total loans, excluding SBA PPP loans | N/A | N/A | $3,159,852 | $3,084,727 | [CRITICAL ACCOUNTING POLICIES](index=54&type=section&id=CRITICAL%20ACCOUNTING%20POLICIES) Outlines critical accounting policies involving significant judgments, with no material changes reported - Critical accounting policies include ACL, accounting for acquisitions (goodwill and intangible assets), income taxes, and defined benefit/postretirement plans[246](index=246&type=chunk) - No material changes to critical accounting policies were reported since the Annual Report on Form 10-K for the year ended **December 31, 2020**[247](index=247&type=chunk) [GENERAL OVERVIEW](index=54&type=section&id=GENERAL%20OVERVIEW) Overview of the bank holding company's business, including deposits, loans, and wealth management services - Camden National Corporation had approximately **$5.2 billion** in assets at **June 30, 2021**[249](index=249&type=chunk) - The primary business is attracting deposits and extending loans, complemented by wealth management, brokerage, investment advisory, and insurance services[249](index=249&type=chunk) - The Company operates in **13** of Maine's **16** counties, with additional presence in Massachusetts and New Hampshire[250](index=250&type=chunk) [EXECUTIVE OVERVIEW](index=54&type=section&id=EXECUTIVE%20OVERVIEW) Strong operating results driven by credit loss provision release, increased EPS, and robust capital position Key Operating Results (In millions, except EPS) | Metric | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | | :------------------------------------ | :------ | :------ | :------ | :------ | | Net income | $18.1 | $10.9 | $37.9 | $24.4 | | Diluted EPS | $1.21 | $0.73 | $2.52 | $1.62 | | Pre-tax, pre-provision earnings (non-GAAP) | $19.3 | $23.1 | $41.9 | $41.8 | | Provision for credit losses | ($3.4) | $9.4 | ($5.4) | $11.2 | | Mortgage banking income, net | $2.6 | $4.7 | $9.7 | $8.2 | | Net interest income | $33.5 | $34.5 | $65.9 | $66.4 | | Debit card income | $3.1 | $2.4 | $5.8 | $4.5 | | Salaries and employee benefits | $15.3 | $13.6 | $29.8 | $27.9 | - The release of provision for credit losses in **Q2 2021** (**$3.4 million**) and **H1 2021** (**$5.4 million**) was a key driver of increased net income, reflecting improved macroeconomic conditions and strong asset quality[253](index=253&type=chunk)[257](index=257&type=chunk) - Net interest margin (fully-taxable equivalent) compressed to **2.83%** in **Q2 2021** and **2.85%** in **H1 2021** due to lower interest rates and significant deposit growth[255](index=255&type=chunk)[257](index=257&type=chunk) - Asset quality remained very strong at **June 30, 2021**, with non-performing assets at **0.17%** of total assets and loans **30-89** days past due at **0.02%** of total loans[258](index=258&type=chunk) - No loans were under COVID-19 deferral arrangements at **June 30, 2021**, down from **$26.5 million** at **December 31, 2020**[259](index=259&type=chunk) - The Company's capital position exceeded regulatory requirements, with a total risk-based capital ratio of **15.26%** and a Tier 1 leverage ratio of **9.48%** at **June 30, 2021**[260](index=260&type=chunk) - Book value per share grew **8%** to **$36.49**, and tangible book value per share (non-GAAP) grew **10%** to **$29.99** over the last twelve months[262](index=262&type=chunk) - A new share repurchase program for up to **750,000** shares was initiated in **Q1 2021**, but no shares were repurchased in **H1 2021**[263](index=263&type=chunk) [RESULTS OF OPERATIONS](index=56&type=section&id=RESULTS%20OF%20OPERATIONS) Operating results influenced by credit loss provision release, net interest income compression, and non-interest income growth - Net interest income (fully-taxable equivalent) decreased by **$1.0 million** (**3%**) for **Q2 2021** and **$510,000** (**1%**) for **H1 2021**, primarily due to a decrease in interest income from lower yields and a shift from higher-yield loans to lower-earning cash and investments[266](index=266&type=chunk)[267](index=267&type=chunk) - Interest expense decreased due to a **20-38 basis points** reduction in average cost of funds and a shift to lower-cost core deposits, which grew significantly[266](index=266&type=chunk)[269](index=269&type=chunk) - Net interest margin (fully-taxable equivalent) compressed by **28 basis points** to **2.83%** for **Q2 2021** and **25 basis points** to **2.85%** for **H1 2021**[270](index=270&type=chunk)[272](index=272&type=chunk) - A release of provision for loan losses of **$3.5 million** for **Q2 2021** and **$5.4 million** for **H1 2021** was recorded, mainly in commercial real estate and commercial loan segments, reflecting improved macroeconomic outlook under CECL[290](index=290&type=chunk) - Annualized net charge-offs were **0.03%** of average loans for both **Q2** and **H1 2021**, down from **0.05%** in the prior year periods[291](index=291&type=chunk) Non-Interest Income Components (In thousands) | Component | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | | :------------------------------------ | :------ | :------ | :------ | :------ | | Mortgage banking income, net | $2,598 | $4,691 | $9,707 | $8,225 | | Debit card income | $3,112 | $2,391 | $5,848 | $4,532 | | Income from fiduciary services | $1,707 | $1,603 | $3,233 | $3,105 | | Service charges on deposit accounts | $1,517 | $1,337 | $3,056 | $3,349 | | Brokerage and insurance commissions | $939 | $622 | $1,892 | $1,279 | | Bank-owned life insurance | $591 | $614 | $1,185 | $1,303 | | Customer loan swap fees | — | $57 | — | $171 | | Other income | $856 | $745 | $1,614 | $1,499 | | Total non-interest income | $11,320 | $12,060 | $26,535 | $23,463 | - Mortgage banking income decreased in **Q2 2021** due to a strategic shift to hold more residential mortgage loans, but increased in **H1 2021** due to higher overall sales volume[294](index=294&type=chunk) - Debit card income increased significantly (**30%** in **Q2**, **29%** in **H1**) due to increased customer spending from federal stimulus programs[294](index=294&type=chunk) Non-Interest Expense Components (In thousands) | Component | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | | :------------------------------------ | :------ | :------ | :------ | :------ | | Salaries and employee benefits | $15,318 | $13,627 | $29,840 | $27,954 | | Furniture, equipment and data processing | $2,947 | $2,710 | $5,974 | $5,500 | | Net occupancy costs | $1,805 | $1,997 | $3,756 | $4,000 | | Debit card expense | $1,074 | $878 | $2,060 | $1,812 | | Consulting and professional fees | $997 | $1,181 | $1,860 | $1,964 | | Regulatory assessments | $487 | $299 | $990 | $461 | | Amortization of core deposit intangible assets | $164 | $171 | $328 | $341 | | Other real estate owned and collection (recoveries) costs, net | ($25) | $98 | ($216) | $199 | | Other expenses | $2,823 | $2,548 | $5,897 | $5,839 | | Total non-interest expense | $25,590 | $23,509 | $50,489 | $48,070 | - Salaries and employee benefits increased due to higher performance-based incentive accruals[296](index=296&type=chunk) - Regulatory assessments increased as the Company no longer received Small Bank Assessment Credits from the FDIC[296](index=296&type=chunk) [FINANCIAL CONDITION](index=64&type=section&id=FINANCIAL%20CONDITION) Financial condition shows decreased cash, increased investments and loans, strong asset quality, and deposit growth - Total cash and cash equivalents decreased by **$42.0 million** to **$103.7 million** at **June 30, 2021**, primarily due to increased investments and loans[298](index=298&type=chunk) - The investment portfolio increased by **$282.9 million** (**25%**) to **$1.4 billion** at **June 30, 2021**, driven by purchases to deploy excess liquidity[302](index=302&type=chunk) - The loan portfolio increased by **$66.1 million** (**2%**) to **$3.29 billion** at **June 30, 2021**, with residential real estate loans showing the largest growth[312](index=312&type=chunk) - Asset quality metrics remained very strong, with non-performing assets decreasing to **$8.6 million** at **June 30, 2021**, from **$10.7 million** at **December 31, 2020**[320](index=320&type=chunk) Non-Performing Assets (In thousands) | Metric | June 30, 2021 | December 31, 2020 | | :------------------------------------ | :------------ | :---------------- | | Total non-accrual loans | $5,882 | $7,596 | | Accruing TDRs not included above | $2,519 | $2,818 | | Total non-performing loans | $8,401 | $10,414 | | Other real estate owned | $165 | $236 | | Total non-performing assets | $8,566 | $10,650 | | Non-performing assets to total assets | **0.17%** | **0.22%** | - Past due loans (**30-89** days) decreased significantly to **$799,000** at **June 30, 2021**, from **$3.2 million** at **December 31, 2020**[323](index=323&type=chunk) - The ACL on loans decreased to **$32.1 million** at **June 30, 2021**, from **$37.9 million** at **December 31, 2020**, due to improved macroeconomic forecasts[328](index=328&type=chunk) - Deposits increased by **$288.9 million** (**7%**) to **$4.3 billion** at **June 30, 2021**, driven by core deposit growth and federal stimulus programs[333](index=333&type=chunk) - Total borrowings decreased by **$32.0 million** to **$214.7 million** at **June 30, 2021**, following the termination of a **$25.0 million** FHLBB borrowing and redemption of **$15.0 million** subordinated notes[335](index=335&type=chunk)[336](index=336&type=chunk) [LIQUIDITY](index=73&type=section&id=LIQUIDITY) Maintains strong liquidity, exceeding target levels, primarily funded by deposits and supplemented by borrowings - The Company's liquidity level exceeded target levels at **June 30, 2021** and **December 31, 2020**[342](index=342&type=chunk) - Average deposits (excluding brokered deposits) increased by **$362.0 million** (**10%**) for the six months ended **June 30, 2021**, compared to the prior year[343](index=343&type=chunk) - Average total borrowings (including brokered deposits) decreased by **$51.8 million** (**9%**) for the six months ended **June 30, 2021**[344](index=344&type=chunk) - Available lines of credit include **$9.9 million** with FHLBB, **$50.0 million** with a correspondent bank, and **$66.2 million** with the FRB Discount Window as of **June 30, 2021**[344](index=344&type=chunk) [CAPITAL RESOURCES](index=74&type=section&id=CAPITAL%20RESOURCES) Committed to a strong capital base, with shareholders' equity and regulatory capital ratios exceeding requirements - Shareholders' equity totaled **$545.5 million** at **June 30, 2021**, representing **11%** of total assets[349](index=349&type=chunk) - Dividends declared to shareholders were **$10.8 million** for the six months ended **June 30, 2021**, an increase from **$9.9 million** in the prior year[350](index=350&type=chunk) - The Company is dependent on cash dividends from Camden National Bank, which declared **$24.8 million** in dividends to the Company for the six months ended **June 30, 2021**[351](index=351&type=chunk) - Both the Company and the Bank exceeded all regulatory capital requirements and the Bank was classified as 'well capitalized' at **June 30, 2021**[352](index=352&type=chunk) [CONTRACTUAL OBLIGATIONS AND OFF-BALANCE SHEET COMMITMENTS](index=74&type=section&id=CONTRACTUAL%20OBLIGATIONS%20AND%20OFF-BALANCE%20SHEET%20COMMITMENTS) Details off-balance sheet commitments, derivative instruments for risk management, and contractual obligations - Off-balance sheet financial instruments include commitments to extend credit and standby letters of credit, with credit risk managed through collateral and credit policies[353](index=353&type=chunk) - Derivative financial instruments are used for risk management (primarily interest rate risk) and not for trading or speculative purposes[356](index=356&type=chunk) Off-Balance Sheet Financial Instruments (June 30, 2021, In thousands) | Instrument | Committed Amount | <1 Year | 1 – 3 Years | 3 – 5 Years | >5 Years | | :------------------------------------ | :--------------- | :------ | :---------- | :---------- | :------- | | Commitments to extend credit | $753,052 | $401,318 | $53,157 | $12,744 | $285,833 | | Standby letters of credit | $6,441 | $5,522 | $367 | — | $552 | | Customer loan swaps - notional value | $729,954 | $11,581 | $55,287 | $186,088 | $476,998 | | Interest rate contracts - notional value | $253,000 | $10,000 | $150,000 | — | $93,000 | | Fixed-rate mortgage interest rate lock commitments - notional value | $44,102 | $44,102 | — | — | — | | Forward delivery commitments - notional value | $14,886 | $14,886 | — | — | — | | Total | $1,801,435 | $487,409 | $258,811 | $198,832 | $856,383 | Contractual Obligations and Commitments (June 30, 2021, In thousands) | Obligation Type | Total Amount Committed | <1 Year | 1 – 3 Years | 3 – 5 Years | >5 Years | | :------------------------------------ | :--------------------- | :------ | :---------- | :---------- | :------- | | Operating leases | $14,722 | $1,380 | $2,479 | $1,918 | $8,945 | | Finance leases | $7,584 | $307 | $623 | $606 | $6,048 | | Retail repurchase agreements | $170,413 | $170,413 | — | — | — | | Junior subordinated debentures | $44,331 | — | — | — | $44,331 | | Other contractual obligations | $2,787 | $2,787 | — | — | — | | Total | $239,837 | $174,887 | $3,102 | $2,524 | $59,324 | [RISK MANAGEMENT](index=76&type=section&id=RISK%20MANAGEMENT) ERM Policy addresses significant risk categories, with no material changes to risk management policies reported - The ERM Policy covers credit, liquidity, market, interest rate, capital, operational and technology (including cybersecurity), vendor and third party, people and compensation, compliance and legal, and strategic alignment and reputation risks[366](index=366&type=chunk) - The Pandemic Work Group was formed in **2020** to manage the Company's COVID-19 response, including employee practices, regulatory compliance, and branch operations, and is now formulating a strategy for employees to return to locations safely[367](index=367&type=chunk)[368](index=368&type=chunk) - No material changes to risk categories and risk management policies were reported since the Annual Report on Form 10-K for **2020**[369](index=369&type=chunk) - The Company's net interest income sensitivity analysis at **June 30, 2021**, projects a decrease if rates remain at or near current levels or decrease by **100 basis points**, but an increase if rates increase by **200 basis points**[374](index=374&type=chunk)[375](index=375&type=chunk) - The Company has an internal project team focused on an orderly transition from LIBOR to alternative reference rates[378](index=378&type=chunk) [ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK](index=79&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURE%20ABOUT%20MARKET%20RISK) Market risk disclosures are incorporated by reference from the Management's Discussion and Analysis section - Market risk disclosures are incorporated by reference from Item 2, 'Management's Discussion and Analysis of Financial Condition and Results of Operations - Risk Management'[380](index=380&type=chunk) [ITEM 4. CONTROLS AND PROCEDURES](index=80&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management evaluated disclosure controls and procedures, concluding they are effective despite remote work - The Company's disclosure controls and procedures were deemed effective as of **June 30, 2021**[383](index=383&type=chunk) - Changes in work arrangements due to the COVID-19 pandemic did not have a material effect on internal controls over financial reporting during **Q2 2021**[384](index=384&type=chunk) [PART II. OTHER INFORMATION](index=81&type=section&id=PART%20II.%20OTHER%20INFORMATION) [ITEM 1. LEGAL PROCEEDINGS](index=81&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) Subject to pending and threatened legal actions, not expected to materially affect financial position - The Company is subject to pending and threatened legal actions in the normal course of business[388](index=388&type=chunk) - Management believes the outcome of these actions will not have a material adverse effect on the Company's consolidated financial position[388](index=388&type=chunk) [ITEM 1A. RISK FACTORS](index=81&type=section&id=ITEM%201A.%20RISK%20FACTORS) Refers to the Annual Report on Form 10-K for a comprehensive discussion of risk factors - Risk factors are discussed in the Company's Annual Report on Form 10-K for the year ended **December 31, 2020**[389](index=389&type=chunk) [ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](index=81&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) No unregistered sales of equity securities or use of proceeds reported - No unregistered sales of equity securities or use of proceeds were reported[389](index=389&type=chunk) [ITEM 3. DEFAULTS UPON SENIOR SECURITIES](index=81&type=section&id=ITEM%203.%20DEFAULTS%20UPON%20SENIOR%20SECURITIES) No defaults upon senior securities reported - No defaults upon senior securities were reported[389](index=389&type=chunk) [ITEM 4. MINE SAFETY DISCLOSURES](index=81&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) Mine safety disclosures are not applicable to the Company - Mine safety disclosures are not applicable to the Company[389](index=389&type=chunk) [ITEM 5. OTHER INFORMATION](index=81&type=section&id=ITEM%205.%20OTHER%20INFORMATION) No other information reported for the period - No other information was reported[390](index=390&type=chunk) [ITEM 6. EXHIBITS](index=81&type=section&id=ITEM%206.%20EXHIBITS) Lists exhibits filed with the Quarterly Report on Form 10-Q, including certifications and iXBRL data - Exhibits include corporate bylaws, CEO and CFO certifications (pursuant to Rule 13a-14(a) and **18 U.S.C. Section 1350**), and iXBRL data files[390](index=390&type=chunk) [SIGNATURES](index=82&type=section&id=SIGNATURES) Report duly signed by the President, CEO, and CFO on August 5, 2021 - The report was signed by Gregory A. Dufour, President and Chief Executive Officer, and Gregory A. White, Chief Financial Officer, Principal Financial & Accounting Officer, on **August 5, 2021**[393](index=393&type=chunk) ```

Camden National Corporation (NASDAQ:CAC) Q2 2021 Earnings Conference Call July 27, 2021 3:00 PM ET Company Participants Gregory Dufour - President, CEO & Director Gregory White - EVP & CFO Conference Call Participants Damon DelMonte - KBW Matthew Breese - Stephens Inc. Operator Good day, and welcome to Camden National Corporation's Second Quarter 2021 Earnings Conference Call. My name is Betsy, and I will be your conference operator for today. [Operator Instructions]. Please note that this presentation cont ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 0-28190 CAMDEN NATIONAL CORPORATION (Exact name of registrant as specified in its charter) | --- | |---------------------------------| | | | | | | | Maine | | (State or other juris ...

Camden National Corporation (NASDAQ:CAC) Q1 2021 Results Conference Call April 27, 2021 1:00 PM ET Company Participants Gregory Dufour - President and Chief Executive Officer Gregory White - Executive Vice President and Chief Financial Officer Conference Call Participants Damon DelMonte - Keefe, Bruyette, & Woods William Wallace - Raymond James & Associates Jacob Civiello - Janney Montgomery Scott Operator Good day, and welcome to Camden National Corporation’s First Quarter 2021 Earnings Conference Call. My ...

First Quarter 2021 Earnings Conference Call April 27, 2021 1 Forward Looking Statements This presentation contains certain statements that may be considered forward-looking statements under the Private Securities Litigation Reform Act of 1995 and other federal laws, including certain plans, exceptions, goals, projections, and statements, which are subject to numerous risks, assumptions, and uncertainties. Forvard-looking statemen identified by the use of the words "believe," "expect," "anticipate," "intend, ...

Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Exchange on Which Registered Common Stock, without par value CAC The NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SEC ...

Camden National Corporation (NASDAQ:CAC) Q4 2020 Results Conference Call January 26, 2021 3:00 PM ET Company Participants Greg Dufour - President and Chief Executive Officer Greg White - EVP and Chief Financial Officer Conference Call Participants Damon DelMonte - KBW William Wallace - Raymond James Jake Civiello - Janney Operator Good day, and welcome to the Camden National Corporation's Fourth Quarter 2020 Earnings Conference Call. My name is Tom and I will be your operator for today's call. All participa ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, without par value CAC The NASDAQ Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 0-28190 CAMDEN NATIONAL CORPORAT ...

Camden National Corporation (NASDAQ:CAC) Q3 2020 Earnings Conference Call October 27, 2020 3:00 PM ET Company Participants Greg Dufour - President and Chief Executive Officer Mike Archer - Senior Vice President and Corporate Controller Conference Call Participants Damon DelMonte - KBW Jake Civiello - Janney Operator Good day and welcome to the Camden National Corporation Third Quarter 2020 Earnings Conference Call. My name is Emily, and I'll be your operator for today's call. All participants will be in lis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 0-28190 CAMDEN NATIONAL CORPORATION (Exact name of registrant as specified in its charter) | --- | |---------------------------------| | | | | | | | Maine | | (State or other jurisd ...