Quarterly ResultApr 28, 2026, 08:12 AM
CAC Q1 Net Income $21.9M, Diluted EPS $1.29; Repurchases 33,131 Shares
AI Summary
Camden National Corporation reported Q1 2026 net income of $21.9 million and diluted EPS of $1.29, representing a significant year-over-year increase due to a recent acquisition, though slightly down linked-quarter. The company highlighted strong asset quality, effective expense management, and deposit growth, which allowed for a reduction in higher-cost borrowings. CAC also repurchased 33,131 shares of its common stock and declared a $0.42 per share cash dividend.
Key Highlights
- Net income for Q1 2026 was $21.9 million, up 200% from Q1 2025.
- Diluted EPS for Q1 2026 was $1.29, up 200% from $0.43 in Q1 2025.
- Repurchased 33,131 shares of common stock at a weighted-average price of $44.85.
- Declared a cash dividend of $0.42 per share, payable April 30, 2026.
- Total deposits increased 1% to $5.6 billion from Q4 2025.
- Net interest margin contracted 5 basis points to 3.24% from Q4 2025.
- Allowance for credit losses on loans increased to 0.92% of total loans.
- Book value per share was $41.98, an 11% increase year-over-year.