Camden National’s Q1 2025 Earnings Reflect Strategic Growth

Camden National ( (CAC) ) has released its Q1 earnings. Here is a breakdown of the information Camden National presented to its investors.

Camden National Corporation, a leading bank holding company in Northern New England, provides comprehensive financial services through its network of branches in Maine and New Hampshire.

In the first quarter of 2025, Camden National reported earnings of $7.3 million and a diluted EPS of $0.43, reflecting the impact of its recent acquisition of Northway Financial, Inc. The acquisition, completed in January 2025, has expanded Camden National’s asset base to $7.0 billion and increased its customer base significantly.

The company’s financial performance showed a mixed picture with a 6% increase in adjusted net income to $16.0 million, while adjusted diluted EPS decreased by 8% compared to the previous quarter. The net interest margin improved to 3.04%, driven by the acquisition, while core net interest margin rose to 2.68%. Asset quality remained strong, with low levels of non-performing loans and a solid allowance for credit losses.

Camden National successfully integrated Northway’s systems and branches, achieving its cost-saving goals. The company anticipates further benefits from the acquisition in the coming quarters, with cost savings expected to materialize in the second quarter of 2025.

Looking ahead, Camden National is poised for continued growth, leveraging its expanded footprint and technological investments to enhance customer service and drive earnings growth. The management remains optimistic about achieving its strategic goals and delivering value to shareholders.