Camden National Corporation reported record second-quarter 2026 results, with net income of $23.0 million and diluted EPS of $1.35. Net income and EPS each increased 5% from the first quarter of 2026 and 63% from the second quarter of 2025, producing a return on average assets of 1.33%, return on average equity of 12.92%, and return on average tangible equity of 18.47%. For the first six months of 2026, net income was $44.9 million and diluted EPS $2.64, 110% higher than the first half of 2025.
Total revenue for the quarter rose 5% sequentially, driven by net interest income of $52.9 million, a net interest margin of 3.26% (core 2.97%), and non-interest income of $14.5 million, up 21% from the prior quarter. The GAAP efficiency ratio was 55.42%, and non-GAAP efficiency ratio 53.23%. On a non-GAAP basis, adjusted pre-tax, pre-provision income for the first six months of 2026 increased 19% to $58.7 million.
Balance sheet metrics were stable, with total assets of $7.0 billion, loans of $5.0 billion (up 1% in the quarter), deposits of $5.6 billion (down 1%), and a loan-to-deposit ratio of 90% at June 30, 2026. Asset quality remained strong: non-performing loans were 0.24% of total loans, annualized net charge-offs were 0.04%, and the allowance for credit losses was 0.91% of loans with 3.8 times coverage of non-performing loans. Capital ratios were well above regulatory requirements, including a Common Equity Tier 1 ratio of 12.19%. The company repurchased 52,000 shares in the quarter and declared a quarterly dividend of $0.42 per share, a 3.10% annualized yield based on the June 30, 2026 share price.
Brunelle Katherine W reported acquisition or exercise transactions in this Form 4 filing.
Camden National Corp EVP Katherine W. Brunelle received three equity grants totaling 1,855 shares of common stock on July 15, 2026. The awards comprise restricted stock and restricted stock units under the 2022 Equity and Incentive Plan, vesting pro-rata over service periods. Following these grants, she holds 2,184 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
CAMDEN NATIONAL CORP executive David Ackley (EVP) reported a routine tax-withholding transaction related to equity compensation. On July 15, 2026, 34 shares of common stock were withheld at $54.16 per share to satisfy minimum tax obligations on restricted stock units that vested that day. Following this withholding, Ackley directly holds 13,359.958 shares of common stock, including 5,291 restricted stock units and restricted shares that remain subject to vesting and forfeiture conditions.
Dimensional Fund Advisors LP reported beneficial ownership of 862,045 shares of Camden National Corp common stock, representing 5.1% of the class, in an institutional ownership filing. Dimensional, a Delaware limited partnership and registered investment adviser, reports these positions for funds and accounts it advises.
Dimensional has sole voting power over 845,226 shares and sole dispositive power over 862,045 shares, with no shared voting or dispositive power. All reported securities are owned by the underlying funds, which have rights to dividends and sale proceeds. Dimensional may be deemed a beneficial owner for Section 13(d) purposes but expressly disclaims beneficial ownership, and no single fund’s interest exceeds 5% of the class.
CAMDEN NATIONAL CORP executive Katherine W. Brunelle reported her initial equity holdings as an insider. The Form 3 shows beneficial ownership of 329 Restricted Stock Units, or RSUs, which are scheduled to vest over required service periods. Each RSU represents the right to receive one share of Camden National common stock upon vesting.
Camden National Corporation announced leadership changes to strengthen its commercial banking business. Katherine W. Brunelle has been named Executive Vice President and Chief Credit Officer, effective July 1, 2026, succeeding Ryan A. Smith, who becomes Executive Vice President, Commercial Banking.
At subsidiary Camden National Bank, Brunelle, Smith, and Barbara Raths (now Executive Vice President, Treasury Management and Government Banking) form a senior team focused on commercial clients, municipalities, and nonprofits across Northern New England. The bank highlights a strategy built on relationship banking, credit discipline, and treasury and government banking expertise to support liquidity, payments, and capital needs.
Camden National Corporation, the largest publicly traded bank holding company in Northern New England, reports $7.0 billion in assets and 72 banking centers in Maine and New Hampshire, reflecting a sizable regional community banking footprint.
Camden National Corporation declared a quarterly cash dividend of $0.42 per share. Based on the June 29, 2026 closing price of $53.96 per share, this represents an annualized dividend yield of 3.11%. The dividend will be paid on July 31, 2026 to shareholders of record as of July 15, 2026.
The company describes itself as Northern New England's largest publicly traded bank holding company, with $7.0 billion in assets and 72 banking centers in Maine and New Hampshire, offering full-service community banking and wealth management services.
Camden National Corp director Raina Maxwell reported an equity grant of common stock. Maxwell acquired 279 shares of Camden National Corp common stock on June 18, 2026 at a reference value of $51.49 per share. The shares were issued under Camden National Corporation's 2022 Equity and Incentive Plan in lieu of director fees, meaning this was a compensation-related award rather than an open-market purchase. Following this grant, Maxwell directly holds 4,032.818 shares of Camden National Corp common stock.
Camden National Corp director Rebecca Hatfield received 170 shares of Common Stock as an equity grant. The shares were valued at $51.49 each and were issued under Camden National Corporation's 2022 Equity and Incentive Plan as compensation in lieu of director fees.
After this award, Hatfield directly holds a total of 8,631.445 Camden National shares. This transaction is a routine, non-market acquisition of stock as part of the company’s standard director compensation program rather than an open-market purchase.
Camden National Corp director Carl John Soderberg received an equity award of 308 shares of common stock on June 18, 2026. The shares were acquired under Camden National Corporation's 2022 Equity and Incentive Plan in lieu of director fees, at a reference price of $51.49 per share. Following this compensation-related grant, Soderberg directly holds 104,349.218 Camden National common shares.