10-K · March 6, 2026
Camden National (CAC) reported a year of acquisitive growth and margin expansion: total assets reached $7.0 billion at December 31, 2025 and the January 2, 2025 acquisition of Northway added $1.2 billion of total assets…
Earnings analysis · 10-Q
CAC earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Camden National Corporation reported a strong Q1 2026 performance with net income of $21.9 million and EPS of $1.29, increasing significantly from $7.3 million and $0.43 in Q1 2025. However, revenue declined slightly to…
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Camden National Corporation reported a strong Q1 2026 performance with net income of $21.9 million and EPS of $1.29, increasing significantly from $7.3 million and $0.43 in Q1 2025. However, revenue declined slightly to $64.3 million, missing estimates of $65.6 million, while improved operational metrics were supported by a 20 basis point increase in net interest margin to 3.24%. Management highlighted solid capital and liquidity positions but indicated expectations for ongoing challenges in the non-interest income segment.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.29
What stood out
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Strong EPS Growth
EPS increased to $1.29 from $0.43 YoY, reflecting a 200% growth.
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Increased Net Income
Net income rose to $21.9 million compared to $7.3 million in Q1 2025.
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Improved Net Interest Margin
Net interest margin improved to 3.24%, up 20 basis points YoY.
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Decrease in Non-interest Expense
Non-interest expenses fell 20% to $35.7 million from $44.5 million in Q1 2025.
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Strong Loan-to-Deposit Ratio
Loan-to-deposit ratio stood at 89% as of March 31, 2026, slightly down from 90%.
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High Capital Levels
Shareholders' equity increased 2% to $710 million, exceeding regulatory requirements.
What to watch
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Non-interest Income Pressures
Non-interest income decreased slightly, resulting in ongoing concerns about revenue diversification.
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Margin Sensitivity
The company is sensitive to interest rate changes, which could impact future net interest income expectations.
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Increased Loan Quality Risks
The ACL on loans was reported at 0.92%, slightly up from 0.91%, reflecting concerns about credit quality.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-K · March 7, 2025
Camden National Corporation is a relationship-driven community bank with $5.8 billion in assets at December 31, 2024 and a stated strategy of organic growth complemented by targeted acquisitions and digital channel…
10-Q · November 7, 2024
Camden National reported a strong year-over-year quarter: total revenue of $75,127,000 and net income of $13,073,000 (diluted EPS $0.90) for the three months ended September 30, 2024, up from $62,741,000 revenue and…
10-Q · August 8, 2024
Camden National reported Q2 2024 diluted EPS of $0.81 and net income of $11,993,000 on combined net interest income of $32,184,000 and non‑interest income of $10,645,000 (totaling $42,829,000). Revenue was essentially…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.