Camden National Posts Net Income of $22.8 Million in Third Quarter
Key Facts
Camden National reported net income of $22.8 million for the quarter ended September 30, 2026. Diluted earnings per share were $1.34 over the same period. Chief Executive Simon Griffith said the results reflected "year-over-year earnings growth, meaningful deposit growth, and strong credit performance." He added that the quarter's results also reflected "continued momentum across the company." Deposit growth and credit performance were central themes in the company's comments on its quarterly results.
Return on average assets was 1.31% in the third quarter of 2026. Return on average tangible equity, a non-GAAP measure, was 17.47%. In the first half of 2026, the company reported record net income of $44.9 million and diluted earnings per share of $2.64. Those results compared with $21.4 million and $1.26 per share in the first half of 2025. Camden National said first-half results benefited from the integration of Northway Financial, which it acquired on January 1, 2025, as well as continued growth in core business activity.
In its second-quarter 2026 results, the company said net interest margin widened by 2 basis points to 3.26% compared with the first quarter. Noninterest income also rose 21% from the previous quarter. It said total revenue in the second quarter increased 5% sequentially, driven by a wider net interest margin and growth in noninterest income. In the same quarter, Griffith said the company achieved annualized loan growth of 3%. He described the record second-quarter results as reflecting business momentum and the company's long-term strategy.
Camden National's board had declared a quarterly cash dividend of $0.42 per share, with a stated annualized yield of 2.93% based on the stock's closing price of $57.40 on September 28, 2026. The company set October 15 as the record date for shareholders eligible for the dividend. It said payment was scheduled for October 30, 2026. CAC shares closed at $58.46 on October 26. The company is scheduled to hold and webcast its earnings call on October 27, 2026, at 3:00 p.m. Eastern Time.