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), a leading community bank in Northern New England since 1875, provides investors and stakeholders with essential financial updates through this centralized news hub. Access official press releases, earnings reports, and strategic announcements from one reliable source.
This page aggregates critical developments including digital banking innovations, merger integrations, and community impact initiatives. Users will find updates on wealth management expansions, risk management practices, and regulatory compliance milestones that shape CAC's market position.
Key content categories include quarterly financial results, leadership changes, technology implementations, and community reinvestment programs. Bookmark this page for streamlined access to verified information directly affecting Camden National's operational performance and long-term growth strategy.
Camden National Corporation (NASDAQ: CAC) reported a net income of $12.7 million and diluted EPS of $0.87 for Q1 2023, reflecting a 17% decline from Q4 2022. This decrease is mainly attributed to interest rate volatility, seasonal deposit outflows, and a $1.8 million loss on investment securities. Return on average equity stood at 11.16%, down from 14.03% in the previous quarter. The company maintains strong capital and liquidity, with total assets of $5.7 billion and a loan-to-deposit ratio of 88%. Notably, core deposits decreased by 6%, influenced by competitive deposit rates. Camden National announced a quarterly cash dividend of $0.42 per share, yielding 4.64%. Despite challenges, the bank emphasizes a commitment to stability and customer relationships amidst market fluctuations.
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