PR Newswire·Jul 28, 2026, 8:15 AM ET

Camden National Corporation Reports Record Quarterly Net Income of $23.0 Million and Diluted EPS of $1.35 for the Second Quarter of 2026

CAC

Camden National Corporation reported second quarter 2026 net income of $23.0 million with diluted EPS of $1.35, representing a 5% increase over the first quarter of 2026.
Total revenue for the quarter increased 5% to $67.4 million, driven by a 21% rise in non-interest income & a 2 basis point expansion in net interest margin to 3.26%.
For the first six months of 2026, the Company recorded record net income of $44.9 million & diluted EPS of $2.64, doubling the prior year period's results.
Loans grew 1% during the quarter to $5.0 billion, while the committed loan pipeline increased 45% to $185.7 million.
Non-interest expense rose 5% to $37.4 million, primarily due to annual salary increases & the timing of director equity awards.
The Company repurchased 52,000 shares during the quarter at a weighted-average price of $47.64, totaling 85,131 shares for the first half of the year.
Book value per share reached $42.96, while tangible book value per share increased to $31.64.
Asset quality remained strong with non-performing loans at 0.24% of total loans & an allowance for credit losses ratio of 0.91%.
Capital ratios exceeded regulatory requirements, including a Common Equity Tier 1 ratio of 12.19% & a Tier 1 leverage ratio of 9.66%.
A cash dividend of $0.42 per share was announced, payable on July 31, 2026, to shareholders of record on July 15, 2026.
Results benefited from the integration of Northway Financial, Inc., acquired on January 1, 2025, which contributed to earnings growth.
The Company hosted a conference call on July 28, 2026, to discuss financial results & outlook for the second half of the year.