Camden National (CAC) - 2022 Q4 - Annual Report

17 Credit Risk and Lending Business Risk Our loans are concentrated in certain areas of Maine and adverse conditions in those markets could adversely af ect our operations. We primarily serve individuals and businesses located in the state of Maine, with 70% of our loan portfolio concentrated among borrowers in Maine as of December 31, 2022, with higher concentrations of exposure in Cumberland, Kennebec, Knox and York counties. Further, because a substantial portion of the loan portfolio is secured by real ...