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Camden National Corporation's Stellar Q2 2026 Performance

Camden National Corporation (NASDAQ: CAC) has achieved remarkable financial results for the second quarter of 2026, reporting a net income of $23.0 million and a diluted earnings per share (EPS) of $1.35. These figures reflect a strong momentum in the company’s operations and a solid execution of its long-term strategy.

Key Financial Highlights

For the quarter ending June 30, 2026, Camden National achieved a return on average assets of 1.33% and a return on average equity of 12.92%. The company further recorded a return on average tangible equity of 18.47%. According to Simon Griffiths, the President and CEO, these robust quarterly earnings signify not only the success of their operational strategies but also the effective investment in talent and customer relationships. The company observed 3% annualized loan growth during the quarter alongside promising revenue performance from its business lines.

In comparison to the same period in the previous year, Camden National's net income surged significantly by 63% from $14.1 million reported in Q2 2025, while EPS improved by 63% from $0.83. The results for the first half of the year show a cumulative net income of $44.9 million and diluted EPS of $2.64, more than doubling the $21.4 million and $1.26 reported in the same timeframe in 2025.

Growth and Performance Factors

Several factors contributed to Camden National's record earnings in Q2 2026:

• - Loan Operations: The company reported a 1% growth in total loans to $5.0 billion, spurred by increases in home equity and commercial loans of 7% and 4%, respectively. Moreover, the committed loan pipeline saw a remarkable surge of 45% from the previous quarter, indicating strong demand and future growth potential.
• - Revenue Increase: The total revenue for Q2 increased by 5% compared to Q1, highlighting effective management of the net interest margin which expanded by 2 basis points to 3.26%. Additionally, the non-interest income experienced impressive growth of 21% during the quarter.
• - Operational Efficiency: The GAAP efficiency ratio for Q2 was recorded at 55.42% and non-GAAP efficiency ratio at 53.23%, demonstrating a solid control over operational costs while delivering strong revenue.

Shareholder Value and Future Outlook

In support of shareholder interests, Camden National repurchased 52,000 shares at an average price of $47.64 per share during the quarter. Furthermore, the company declared a cash dividend of $0.42, promising a yield of 3.10% based on the closing stock price of $54.22 at the end of Q2.

Looking ahead, Camden National remains optimistic, with strategic initiatives to continue enhancing their service offerings and expanding market share. The ongoing integration of Northway Financial, acquired in January 2025, also promises to contribute positively to Camden National’s bottom line in the coming quarters.

Camden National Corporation will host a conference call to discuss its Q2 2026 results on July 28, 2026, reflecting its commitment to transparency and communication with its shareholders and other stakeholders.

As one of Northern New England’s largest publicly traded bank holding companies with $7.0 billion in assets, Camden National's promising trajectory positions it well to overcome industry challenges and harness growth opportunities in the years ahead. The dedication to community banking coupled with cutting-edge digital solutions places Camden on a growth path beneficial to its customers and investors alike.