#United States #Camden #Camden National #Northway Financial #NASDAQ CAC

Camden National Corporation Reports Second Quarter 2025 Earnings

Camden National Corporation (NASDAQ: CAC), a prominent bank holding company headquartered in Camden, Maine, has released its financial results for the second quarter of 2025, marking a significant achievement in its performance. The corporation reported a net income of $14.1 million, representing a remarkable 92% increase from the previous quarter, and a diluted earnings per share (EPS) of $0.83, reflecting a 93% rise. This strong performance is particularly noteworthy as it follows the acquisition of Northway Financial, which has allowed Camden National to enhance its financial capacity and operational efficiency.

Key Highlights of Q2 2025

The company’s success can be attributed to several strategic maneuvers and focused efforts that allowed it to unlock significant financial potential. During the quarter, Camden National achieved a 13% increase in pre-tax and pre-provision income, exclusive of one-time merger-related expenses. This performance underscores the effectiveness of cost synergy achievement and solid revenue growth, which have positioned the company favorably for continued net interest margin expansion and earnings growth in the latter half of 2025.

Financial Metrics

• - Net Interest Margin: rose to 3.06%, a slight uptick from the first quarter of 2025.
• - Core Net Interest Margin (non-GAAP): stood at 2.70%, compared to 2.68% in the prior quarter, indicating efficient management of interest-earning assets.
• - Efficiency Ratio: decreased significantly to 60.37%, showing better management of operating expenses compared to 74.02% in Q1 2025.
• - Loans: increased by 4% on an annualized basis, supported by a robust loan pipeline totaling $149.5 million, a 40% increase from the end of March 2025.
• - Tangible Book Value Per Share: reached $26.90, marking a 3% increase over Q1.

Financial Condition Overview

As of June 30, 2025, Camden National reported total assets of $6.9 billion despite a slight decrease of 1% from the previous quarter. The investment portfolio remained steady at $1.4 billion, whereas loan balances reflected a 1% growth from Q1. The allowance for credit losses was quantified at 1.08% of total loans, demonstrating prudent risk management practices in lending operations.

Dividends and Future Outlook

The company has also declared a cash dividend of $0.42 per share, representing an attractive annualized yield of 4.14% based on its recent closing share price. This dividend, set to be payable on July 31, 2025, indicates Camden National's commitment to providing returns to its shareholders while investing in growth strategies.

Conference Call Invitation

To discuss these positive results, Camden National Corporation will hold a conference call on July 29, 2025, at 3:00 PM ET. This call will provide further insights into the financial performance and future projections. Stakeholders are encouraged to dial in 10-15 minutes early and can find access information on their official website.

About Camden National Corporation

Established in 1875, Camden National Corporation serves as Northern New England's largest publicly traded bank holding company with a network of 72 banking centers across Maine and New Hampshire. With a focus on merging traditional banking with cutting-edge digital services, Camden National aims to deliver exceptional personal service and community engagement. For more information, please visit CamdenNational.bank. Member FDIC and equal housing lender.

In summary, Camden National's second-quarter earnings reflect a strong commitment to growth and operational efficiency, positioning the company for more robust financial performance in the future. Stakeholders can be optimistic as the company continues to adapt to market demands while leveraging its recent acquisition strategically.