Welcome to our dedicated page for Camden Natl news (Ticker: CAC), a resource for investors and traders seeking the latest updates and insights on Camden Natl stock.
Camden National Corporation (NASDAQ: CAC) is a Maine‑based bank holding company and, according to its public statements, Northern New England's largest publicly traded bank holding company. Through Camden National Bank and Camden National Wealth Management, the company provides commercial banking, consumer banking, and wealth management services, and it regularly issues news and updates that are relevant to investors, customers, and market watchers.
The news flow for Camden National Corporation often centers on quarterly and annual earnings results, where the company reports net income, returns on assets and equity, capital ratios, loan and deposit trends, and asset quality metrics. These earnings releases are typically accompanied by conference calls and webcasts, with details on how to join and where to access replays and transcripts.
Another recurring category of news involves dividend declarations. The board of directors has repeatedly announced quarterly cash dividends on the company’s common stock, and these announcements specify the dividend amount per share, record dates, and payment dates. Such releases are also reflected in Form 8‑K filings.
Camden National Corporation’s news also includes corporate governance updates, such as board succession plans. Recent communications have described the planned retirement of the Chair of the Board and the appointment of a Vice‑Chair who will succeed as Chair, highlighting the company’s approach to leadership continuity.
In addition, the company may appear in strategic and partnership announcements related to its banking operations. For example, Camden National Bank has been featured in a partnership release involving a personalized banking platform aimed at enhancing digital banking experiences and savings tools for customers.
Investors and followers of CAC can use this news page to review earnings announcements, dividend news, board and governance developments, and selected business initiatives that shape Camden National Corporation’s financial and strategic profile over time.
Camden National reported Q3 2024 earnings of $13.1 million and diluted EPS of $0.90, marking increases of 9% and 11% respectively over Q2 2024. The company announced a pending merger with Northway Financial, which is expected to create a combined franchise with 74 branches, approximately $7.0 billion in assets, and $5.1 billion in loans. The merger is projected to be 19.9% accretive to Camden National's 2025 EPS and 32.7% accretive to 2026 EPS. Net interest margin expanded to 2.46%, while asset quality remained strong with non-performing loans at 0.17% of total loans. The company declared a cash dividend of $0.42 per share.
Camden National (NASDAQ: CAC) has announced it will release its financial and operating results for the quarter ended September 30, 2024, on Tuesday, October 29, 2024. The company will host a conference call and webcast at 3:00 p.m. Eastern on the same day to discuss the results.
Interested parties can participate in the teleconference by dialing in or connecting to the webcast link 10-15 minutes before the start time. The dial-in numbers are (833) 470-1428 for domestic calls and (929) 526-1599 for international calls, with the participant access code 504894. The live webcast will be available at https://events.q4inc.com/attendee/685424551.
A link to the webcast will also be provided on Camden National 's website prior to the meeting. Following the conference call, a transcript and replay will be made available on the company's website.
Camden National (NASDAQ: CAC) has announced its third quarter 2024 dividend. The board of directors declared a quarterly dividend of $0.42 per share, payable on October 31, 2024, to shareholders of record on October 15, 2024. This quarterly payout results in an annualized dividend yield of 4.27%, based on the September 23, 2024 closing price of the Company's common stock at $39.39 per share as reported by NASDAQ. The announcement was made by Simon R. Griffiths, President and Chief Executive Officer of Camden National
Camden National (NASDAQ: CAC) and Northway Financial, Inc. (OTCQB: NWYF) have announced a merger agreement valued at approximately $86.6 million. The all-stock transaction will create a premier northern New England bank with 74 branches across New Hampshire and Maine, boasting $7.0 billion in assets, $5.1 billion in loans, and $5.5 billion in deposits. The combined entity will operate under the Camden National Bank name.
The merger is expected to be 19.9% accretive to Camden National's 2025 earnings per share and 32.7% accretive to 2026 earnings per share. Subject to regulatory approvals and Northway shareholder approval, the transaction is anticipated to close in the first quarter of 2025. Post-merger, Camden National shareholders will own approximately 86% of the combined company, while Northway shareholders will own about 14%.
Camden National (NASDAQ: CAC) reported Q2 2024 earnings of $12.0 million and diluted EPS of $0.81, down from $13.3 million and $0.91 in Q1 2024. Key highlights include:
- Net interest margin increased to 2.36% from 2.30% in Q1
- Strong asset quality with non-performing loans at 0.23% of total loans
- Common equity ratio of 8.88% and tangible common equity ratio of 7.34%
- Total assets decreased 1% to $5.7 billion
- Loans increased by $18.3 million, driven by commercial and consumer growth
- Deposits decreased 1% to $4.5 billion
- Announced cash dividend of $0.42 per share
The company's performance reflects its strong capital position, disciplined credit culture, and expense management in a challenging economic environment.
Camden National (NASDAQ: CAC) will announce its financial results for the quarter ending June 30, 2024, on July 30, 2024.
A conference call and webcast will be held at 3:00 p.m. Eastern on the same day, hosted by President & CEO Simon Griffiths and EVP & CFO Michael Archer.
Interested parties can join the domestic or international dial-in numbers or connect via the webcast link 10-15 minutes before the event starts. The live webcast will also be accessible on Camden National 's website, with a transcript and replay available post-conference.
On June 25, 2024, Camden National (NASDAQ: CAC) announced that its board of directors declared a quarterly dividend of $0.42 per share. This dividend will yield an annualized return of 5.30%, based on the stock's closing price of $31.72 as of June 24, 2024. The dividend will be paid to shareholders of record on July 15, 2024, with the payment date set for July 31, 2024.
Camden National reported earnings of $13.3 million and diluted EPS of $0.91 for the first quarter of 2024. The company maintained strong asset quality, capital, and liquidity. The financial results showed an increase in adjusted net income and adjusted diluted EPS compared to the previous quarter. The return on average assets, equity, and tangible equity remained solid. Asset quality was highlighted by low past due loans and non-performing assets. Financial condition reflected an increase in total assets and a strategic focus on loan growth. The company announced a cash dividend and initiated a new share repurchase program. Financial operating results showed a rise in net income and non-interest income, along with a decline in net interest income. The negative provision expense was driven by favorable asset quality and loan growth. Non-interest expenses decreased, reflecting cost management actions.
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