Annual Income Statements for Camden National
This table shows Camden National's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Camden National
This table shows Camden National's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
13 |
15 |
Consolidated Net Income / (Loss) |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
13 |
15 |
Net Income / (Loss) Continuing Operations |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
13 |
15 |
Total Pre-Tax Income |
|
18 |
19 |
16 |
16 |
12 |
10 |
16 |
15 |
16 |
18 |
Total Revenue |
|
48 |
47 |
44 |
43 |
38 |
39 |
42 |
43 |
45 |
48 |
Net Interest Income / (Expense) |
|
38 |
37 |
34 |
33 |
33 |
33 |
31 |
32 |
34 |
35 |
Total Interest Income |
|
45 |
49 |
53 |
56 |
58 |
60 |
60 |
62 |
64 |
63 |
Loans and Leases Interest Income |
|
38 |
42 |
45 |
49 |
50 |
51 |
52 |
53 |
55 |
54 |
Investment Securities Interest Income |
|
6.68 |
8.01 |
6.95 |
6.88 |
6.86 |
10 |
7.80 |
7.79 |
7.47 |
12 |
Total Interest Expense |
|
6.77 |
12 |
18 |
23 |
25 |
27 |
29 |
30 |
30 |
28 |
Deposits Interest Expense |
|
5.44 |
11 |
16 |
19 |
21 |
23 |
23 |
24 |
25 |
23 |
Long-Term Debt Interest Expense |
|
1.33 |
1.82 |
2.61 |
4.12 |
4.12 |
4.25 |
5.73 |
5.81 |
5.08 |
4.67 |
Total Non-Interest Income |
|
9.95 |
9.78 |
9.87 |
10 |
5.07 |
5.99 |
10 |
11 |
11 |
12 |
Other Service Charges |
|
9.58 |
10 |
9.27 |
9.50 |
9.76 |
-17 |
9.64 |
9.95 |
11 |
11 |
Other Non-Interest Income |
|
0.37 |
0.38 |
0.59 |
0.61 |
0.64 |
28 |
0.68 |
0.69 |
0.71 |
0.72 |
Provision for Credit Losses |
|
2.76 |
0.47 |
2.00 |
0.10 |
-0.57 |
0.57 |
-2.10 |
0.65 |
0.24 |
0.81 |
Total Non-Interest Expense |
|
27 |
27 |
26 |
27 |
26 |
28 |
27 |
27 |
29 |
28 |
Salaries and Employee Benefits |
|
16 |
15 |
15 |
15 |
15 |
15 |
16 |
16 |
17 |
16 |
Net Occupancy & Equipment Expense |
|
5.07 |
5.27 |
5.29 |
5.03 |
5.19 |
5.54 |
5.70 |
5.48 |
5.47 |
5.63 |
Other Operating Expenses |
|
6.02 |
6.35 |
6.15 |
6.68 |
6.13 |
6.75 |
5.57 |
6.09 |
6.02 |
6.19 |
Amortization Expense |
|
0.16 |
0.16 |
0.15 |
0.15 |
0.15 |
0.15 |
0.14 |
0.14 |
0.14 |
0.14 |
Income Tax Expense |
|
3.65 |
3.95 |
3.25 |
3.17 |
2.24 |
1.80 |
3.06 |
2.88 |
2.78 |
3.74 |
Basic Earnings per Share |
|
$0.97 |
$1.05 |
$0.87 |
$0.85 |
$0.67 |
$0.59 |
$0.91 |
$0.82 |
$0.90 |
$1.00 |
Weighted Average Basic Shares Outstanding |
|
14.62M |
14.64M |
14.57M |
14.56M |
14.56M |
14.56M |
14.57M |
14.59M |
14.58M |
14.58M |
Diluted Earnings per Share |
|
$0.97 |
$1.05 |
$0.87 |
$0.85 |
$0.67 |
$0.58 |
$0.91 |
$0.81 |
$0.90 |
$1.00 |
Weighted Average Diluted Shares Outstanding |
|
14.68M |
14.70M |
14.63M |
14.60M |
14.60M |
14.61M |
14.63M |
14.65M |
14.65M |
14.63M |
Weighted Average Basic & Diluted Shares Outstanding |
|
14.57M |
14.57M |
14.59M |
14.55M |
14.56M |
14.57M |
14.61M |
14.57M |
14.58M |
16.86M |
Cash Dividends to Common per Share |
|
$0.40 |
$0.42 |
$0.42 |
$0.42 |
$0.42 |
$0.42 |
$0.42 |
$0.42 |
$0.42 |
$0.42 |
Annual Cash Flow Statements for Camden National
This table details how cash moves in and out of Camden National's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-145 |
24 |
115 |
Net Cash From Operating Activities |
105 |
68 |
61 |
Net Cash From Continuing Operating Activities |
105 |
68 |
61 |
Net Income / (Loss) Continuing Operations |
61 |
43 |
53 |
Consolidated Net Income / (Loss) |
61 |
43 |
53 |
Provision For Loan Losses |
4.50 |
2.10 |
-0.40 |
Depreciation Expense |
3.49 |
3.37 |
3.31 |
Amortization Expense |
4.46 |
2.90 |
2.34 |
Non-Cash Adjustments to Reconcile Net Income |
5.29 |
9.37 |
2.34 |
Changes in Operating Assets and Liabilities, net |
26 |
6.38 |
0.35 |
Net Cash From Investing Activities |
-488 |
-7.03 |
30 |
Net Cash From Continuing Investing Activities |
-488 |
-7.03 |
30 |
Purchase of Property, Leasehold Improvements and Equipment |
-2.18 |
-2.62 |
-5.58 |
Purchase of Investment Securities |
-138 |
-137 |
-60 |
Sale of Property, Leasehold Improvements and Equipment |
0.47 |
0.00 |
0.00 |
Sale and/or Maturity of Investments |
275 |
254 |
133 |
Other Investing Activities, net |
-623 |
-121 |
-37 |
Net Cash From Financing Activities |
237 |
-36 |
24 |
Net Cash From Continuing Financing Activities |
237 |
-36 |
24 |
Net Change in Deposits |
218 |
-230 |
36 |
Issuance of Debt |
54 |
220 |
375 |
Issuance of Common Equity |
-0.36 |
-0.26 |
-0.22 |
Repayment of Debt |
-0.16 |
-0.17 |
-360 |
Repurchase of Common Equity |
-10 |
-2.00 |
-1.61 |
Payment of Dividends |
-24 |
-25 |
-25 |
Other Financing Activities, Net |
0.00 |
0.00 |
-0.25 |
Cash Interest Paid |
25 |
92 |
117 |
Cash Income Taxes Paid |
13 |
11 |
8.82 |
Quarterly Cash Flow Statements for Camden National
This table details how cash moves in and out of Camden National's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
5.59 |
-6.59 |
0.31 |
19 |
117 |
-112 |
77 |
-71 |
34 |
75 |
Net Cash From Operating Activities |
|
15 |
20 |
15 |
17 |
47 |
-11 |
18 |
14 |
-15 |
43 |
Net Cash From Continuing Operating Activities |
|
15 |
20 |
15 |
17 |
47 |
-11 |
18 |
14 |
-15 |
43 |
Net Income / (Loss) Continuing Operations |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
13 |
15 |
Consolidated Net Income / (Loss) |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
13 |
15 |
Provision For Loan Losses |
|
2.76 |
0.47 |
2.00 |
0.10 |
-0.57 |
0.57 |
-2.10 |
0.65 |
0.24 |
0.81 |
Depreciation Expense |
|
0.86 |
0.85 |
0.82 |
0.83 |
0.82 |
0.91 |
0.82 |
0.82 |
0.82 |
0.86 |
Amortization Expense |
|
1.11 |
0.87 |
0.75 |
0.76 |
2.58 |
-1.19 |
0.58 |
0.58 |
0.60 |
0.57 |
Non-Cash Adjustments to Reconcile Net Income |
|
-1.23 |
2.72 |
-0.23 |
1.27 |
0.09 |
8.24 |
7.93 |
1.08 |
-8.21 |
1.55 |
Changes in Operating Assets and Liabilities, net |
|
-2.58 |
0.21 |
-1.56 |
1.78 |
34 |
-28 |
-2.73 |
-0.63 |
-21 |
25 |
Net Cash From Investing Activities |
|
-92 |
-123 |
-45 |
-3.05 |
70 |
-29 |
-4.78 |
8.87 |
30 |
-3.55 |
Net Cash From Continuing Investing Activities |
|
-92 |
-123 |
-45 |
-3.05 |
70 |
-29 |
-4.78 |
8.87 |
30 |
-3.55 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.40 |
-0.84 |
-0.50 |
-0.54 |
-0.70 |
-0.89 |
-0.55 |
-1.29 |
-1.71 |
-2.03 |
Purchase of Investment Securities |
|
- |
-33 |
-63 |
-34 |
44 |
-85 |
-27 |
-19 |
20 |
-34 |
Sale and/or Maturity of Investments |
|
59 |
75 |
32 |
43 |
87 |
93 |
28 |
34 |
36 |
36 |
Other Investing Activities, net |
|
-151 |
-164 |
-14 |
-12 |
-60 |
-36 |
-4.64 |
-4.69 |
-24 |
-2.89 |
Net Cash From Financing Activities |
|
83 |
96 |
31 |
4.45 |
0.45 |
-72 |
64 |
-95 |
19 |
36 |
Net Cash From Continuing Financing Activities |
|
83 |
96 |
31 |
4.45 |
0.45 |
-72 |
64 |
-95 |
19 |
36 |
Net Change in Deposits |
|
42 |
258 |
-184 |
51 |
-15 |
-81 |
-46 |
-38 |
61 |
58 |
Issuance of Debt |
|
50 |
-156 |
221 |
-38 |
22 |
15 |
116 |
6.11 |
134 |
119 |
Issuance of Common Equity |
|
0.02 |
0.02 |
- |
- |
- |
-0.08 |
- |
- |
- |
-0.02 |
Repayment of Debt |
|
-0.04 |
-0.04 |
-0.04 |
-0.05 |
-0.04 |
-0.04 |
-0.04 |
-55 |
-170 |
-135 |
Repurchase of Common Equity |
|
-2.56 |
-0.27 |
0.06 |
-2.24 |
0.17 |
- |
0.07 |
-1.83 |
0.12 |
0.04 |
Payment of Dividends |
|
-5.87 |
-5.84 |
-6.14 |
-6.14 |
-6.13 |
-6.13 |
-6.14 |
-6.14 |
-6.14 |
-6.14 |
Cash Interest Paid |
|
6.71 |
12 |
18 |
23 |
25 |
27 |
29 |
30 |
30 |
28 |
Cash Income Taxes Paid |
|
4.95 |
3.48 |
0.15 |
4.75 |
3.95 |
2.30 |
0.10 |
5.16 |
3.34 |
0.23 |
Annual Balance Sheets for Camden National
This table presents Camden National's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
5,672 |
5,715 |
5,805 |
Cash and Due from Banks |
51 |
78 |
62 |
Interest Bearing Deposits at Other Banks |
25 |
22 |
153 |
Trading Account Securities |
1,246 |
1,175 |
1,117 |
Loans and Leases, Net of Allowance |
3,973 |
4,061 |
4,080 |
Loans and Leases |
4,010 |
4,098 |
4,115 |
Allowance for Loan and Lease Losses |
37 |
37 |
36 |
Loans Held for Sale |
5.20 |
10 |
11 |
Premises and Equipment, Net |
36 |
35 |
37 |
Goodwill |
95 |
95 |
95 |
Intangible Assets |
1.56 |
0.97 |
0.42 |
Other Assets |
239 |
237 |
251 |
Total Liabilities & Shareholders' Equity |
5,672 |
5,715 |
5,805 |
Total Liabilities |
5,221 |
5,219 |
5,274 |
Interest Bearing Deposits |
4,827 |
4,597 |
4,633 |
Short-Term Debt |
265 |
486 |
501 |
Accrued Interest Payable |
84 |
92 |
96 |
Long-Term Debt |
44 |
44 |
44 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
451 |
495 |
531 |
Total Preferred & Common Equity |
451 |
495 |
531 |
Total Common Equity |
451 |
495 |
531 |
Common Stock |
115 |
116 |
116 |
Retained Earnings |
462 |
481 |
509 |
Accumulated Other Comprehensive Income / (Loss) |
-126 |
-102 |
-95 |
Quarterly Balance Sheets for Camden National
This table presents Camden National's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
5,552 |
5,717 |
5,744 |
5,780 |
5,795 |
5,724 |
5,745 |
Cash and Due from Banks |
|
55 |
54 |
51 |
91 |
69 |
79 |
69 |
Interest Bearing Deposits at Other Banks |
|
27 |
22 |
43 |
120 |
108 |
27 |
70 |
Trading Account Securities |
|
1,262 |
1,230 |
1,197 |
1,143 |
1,147 |
1,118 |
1,135 |
Loans and Leases, Net of Allowance |
|
3,824 |
4,036 |
4,063 |
4,022 |
4,085 |
4,104 |
4,081 |
Loans and Leases |
|
3,861 |
4,073 |
4,100 |
4,058 |
4,121 |
4,139 |
4,117 |
Allowance for Loan and Lease Losses |
|
37 |
37 |
37 |
36 |
36 |
35 |
35 |
Loans Held for Sale |
|
4.63 |
4,041 |
12 |
11 |
9.52 |
14 |
12 |
Premises and Equipment, Net |
|
36 |
36 |
35 |
35 |
35 |
35 |
36 |
Goodwill |
|
95 |
95 |
95 |
95 |
95 |
95 |
95 |
Intangible Assets |
|
1.72 |
1.42 |
1.27 |
1.12 |
0.83 |
0.69 |
0.55 |
Other Assets |
|
247 |
238 |
246 |
261 |
246 |
252 |
247 |
Total Liabilities & Shareholders' Equity |
|
5,552 |
5,717 |
5,744 |
5,780 |
5,795 |
5,724 |
5,745 |
Total Liabilities |
|
5,121 |
5,252 |
5,277 |
5,316 |
5,293 |
5,216 |
5,215 |
Interest Bearing Deposits |
|
4,569 |
4,643 |
4,694 |
4,678 |
4,552 |
4,514 |
4,575 |
Short-Term Debt |
|
421 |
486 |
448 |
470 |
601 |
553 |
516 |
Accrued Interest Payable |
|
87 |
78 |
90 |
124 |
96 |
105 |
79 |
Long-Term Debt |
|
44 |
44 |
44 |
44 |
44 |
44 |
44 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
431 |
465 |
467 |
463 |
502 |
508 |
530 |
Total Preferred & Common Equity |
|
431 |
465 |
467 |
463 |
502 |
508 |
530 |
Total Common Equity |
|
431 |
465 |
467 |
463 |
502 |
508 |
530 |
Common Stock |
|
115 |
116 |
114 |
115 |
116 |
116 |
116 |
Retained Earnings |
|
453 |
469 |
475 |
479 |
488 |
494 |
501 |
Accumulated Other Comprehensive Income / (Loss) |
|
-136 |
-119 |
-122 |
-130 |
-103 |
-101 |
-87 |
Annual Metrics And Ratios for Camden National
This table displays calculated financial ratios and metrics derived from Camden National's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
0.65% |
-13.32% |
8.39% |
EBITDA Growth |
-13.03% |
-29.28% |
18.29% |
EBIT Growth |
-11.07% |
-30.13% |
21.59% |
NOPAT Growth |
-10.98% |
-29.39% |
22.18% |
Net Income Growth |
-10.98% |
-29.39% |
22.18% |
EPS Growth |
-9.35% |
-28.78% |
21.89% |
Operating Cash Flow Growth |
-26.30% |
-35.82% |
-9.74% |
Free Cash Flow Firm Growth |
104.51% |
-325.60% |
100.83% |
Invested Capital Growth |
-4.57% |
34.73% |
4.99% |
Revenue Q/Q Growth |
-1.12% |
-4.71% |
5.28% |
EBITDA Q/Q Growth |
-2.58% |
-15.51% |
16.06% |
EBIT Q/Q Growth |
-1.78% |
-14.36% |
14.17% |
NOPAT Q/Q Growth |
-1.82% |
-13.67% |
13.21% |
Net Income Q/Q Growth |
-1.82% |
-13.67% |
13.21% |
EPS Q/Q Growth |
-1.42% |
-13.66% |
13.13% |
Operating Cash Flow Q/Q Growth |
-9.14% |
-32.00% |
844.99% |
Free Cash Flow Firm Q/Q Growth |
405.96% |
-610.63% |
102.76% |
Invested Capital Q/Q Growth |
-15.13% |
4.83% |
-1.32% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
45.11% |
36.81% |
40.17% |
EBIT Margin |
40.90% |
32.97% |
36.98% |
Profit (Net Income) Margin |
32.61% |
26.57% |
29.95% |
Tax Burden Percent |
79.74% |
80.58% |
80.97% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
20.26% |
19.42% |
19.03% |
Return on Invested Capital (ROIC) |
7.89% |
4.86% |
5.05% |
ROIC Less NNEP Spread (ROIC-NNEP) |
7.89% |
4.86% |
5.05% |
Return on Net Nonoperating Assets (RNNOA) |
4.49% |
4.31% |
5.28% |
Return on Equity (ROE) |
12.38% |
9.17% |
10.33% |
Cash Return on Invested Capital (CROIC) |
12.57% |
-24.73% |
0.17% |
Operating Return on Assets (OROA) |
1.38% |
0.95% |
1.14% |
Return on Assets (ROA) |
1.10% |
0.76% |
0.92% |
Return on Common Equity (ROCE) |
12.38% |
9.17% |
10.33% |
Return on Equity Simple (ROE_SIMPLE) |
13.61% |
8.76% |
9.98% |
Net Operating Profit after Tax (NOPAT) |
61 |
43 |
53 |
NOPAT Margin |
32.61% |
26.57% |
29.95% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
43.87% |
49.64% |
48.79% |
Operating Expenses to Revenue |
56.72% |
65.75% |
63.24% |
Earnings before Interest and Taxes (EBIT) |
77 |
54 |
65 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
85 |
60 |
71 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.21 |
1.05 |
1.16 |
Price to Tangible Book Value (P/TBV) |
1.53 |
1.30 |
1.41 |
Price to Revenue (P/Rev) |
2.89 |
3.17 |
3.49 |
Price to Earnings (P/E) |
8.87 |
11.93 |
11.64 |
Dividend Yield |
4.28% |
4.73% |
3.97% |
Earnings Yield |
11.28% |
8.39% |
8.59% |
Enterprise Value to Invested Capital (EV/IC) |
1.02 |
0.92 |
0.88 |
Enterprise Value to Revenue (EV/Rev) |
4.13 |
5.80 |
5.35 |
Enterprise Value to EBITDA (EV/EBITDA) |
9.16 |
15.76 |
13.32 |
Enterprise Value to EBIT (EV/EBIT) |
10.11 |
17.60 |
14.47 |
Enterprise Value to NOPAT (EV/NOPAT) |
12.68 |
21.84 |
17.87 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
7.41 |
14.04 |
15.54 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
7.96 |
0.00 |
519.47 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.69 |
1.07 |
1.03 |
Long-Term Debt to Equity |
0.10 |
0.09 |
0.08 |
Financial Leverage |
0.57 |
0.89 |
1.05 |
Leverage Ratio |
11.26 |
12.03 |
11.22 |
Compound Leverage Factor |
11.26 |
12.03 |
11.22 |
Debt to Total Capital |
40.68% |
51.70% |
50.64% |
Short-Term Debt to Total Capital |
34.86% |
47.38% |
46.52% |
Long-Term Debt to Total Capital |
5.83% |
4.33% |
4.12% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
59.32% |
48.30% |
49.36% |
Debt to EBITDA |
3.64 |
8.82 |
7.66 |
Net Debt to EBITDA |
2.75 |
7.16 |
4.64 |
Long-Term Debt to EBITDA |
0.52 |
0.74 |
0.62 |
Debt to NOPAT |
5.04 |
12.22 |
10.28 |
Net Debt to NOPAT |
3.81 |
9.91 |
6.23 |
Long-Term Debt to NOPAT |
0.72 |
1.02 |
0.84 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
98 |
-221 |
1.82 |
Operating Cash Flow to CapEx |
6,125.98% |
2,574.68% |
1,092.77% |
Free Cash Flow to Firm to Interest Expense |
3.90 |
-2.35 |
0.02 |
Operating Cash Flow to Interest Expense |
4.19 |
0.72 |
0.52 |
Operating Cash Flow Less CapEx to Interest Expense |
4.12 |
0.69 |
0.47 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
5.11 |
4.60 |
4.91 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
761 |
1,025 |
1,076 |
Invested Capital Turnover |
0.24 |
0.18 |
0.17 |
Increase / (Decrease) in Invested Capital |
-36 |
264 |
51 |
Enterprise Value (EV) |
779 |
947 |
947 |
Market Capitalization |
545 |
517 |
617 |
Book Value per Share |
$30.98 |
$34.01 |
$36.44 |
Tangible Book Value per Share |
$24.37 |
$27.43 |
$29.92 |
Total Capital |
761 |
1,025 |
1,076 |
Total Debt |
310 |
530 |
545 |
Total Long-Term Debt |
44 |
44 |
44 |
Net Debt |
234 |
430 |
330 |
Capital Expenditures (CapEx) |
1.72 |
2.62 |
5.58 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
310 |
530 |
545 |
Total Depreciation and Amortization (D&A) |
7.95 |
6.28 |
5.65 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$4.18 |
$2.98 |
$3.63 |
Adjusted Weighted Average Basic Shares Outstanding |
14.64M |
14.56M |
14.58M |
Adjusted Diluted Earnings per Share |
$4.17 |
$2.97 |
$3.62 |
Adjusted Weighted Average Diluted Shares Outstanding |
14.70M |
14.61M |
14.63M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
14.57M |
14.57M |
16.86M |
Normalized Net Operating Profit after Tax (NOPAT) |
61 |
43 |
54 |
Normalized NOPAT Margin |
32.61% |
26.57% |
30.48% |
Pre Tax Income Margin |
40.90% |
32.97% |
36.98% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
3.07 |
0.57 |
0.56 |
NOPAT to Interest Expense |
2.45 |
0.46 |
0.45 |
EBIT Less CapEx to Interest Expense |
3.00 |
0.54 |
0.51 |
NOPAT Less CapEx to Interest Expense |
2.38 |
0.43 |
0.41 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
38.27% |
56.56% |
46.33% |
Augmented Payout Ratio |
54.94% |
61.17% |
49.37% |
Quarterly Metrics And Ratios for Camden National
This table displays calculated financial ratios and metrics derived from Camden National's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
4.19% |
-4.36% |
-4.43% |
-10.23% |
-21.17% |
-17.25% |
-5.78% |
0.07% |
19.48% |
22.95% |
EBITDA Growth |
|
-6.49% |
-9.67% |
-24.78% |
-17.41% |
-22.40% |
-52.47% |
1.05% |
-5.09% |
11.95% |
98.45% |
EBIT Growth |
|
-3.92% |
-6.74% |
-24.11% |
-17.15% |
-32.88% |
-46.75% |
2.23% |
-4.40% |
31.86% |
79.01% |
NOPAT Growth |
|
-2.55% |
-6.91% |
-24.22% |
-17.55% |
-31.40% |
-44.76% |
4.28% |
-3.20% |
33.58% |
72.95% |
Net Income Growth |
|
-2.55% |
-6.91% |
-24.22% |
-17.55% |
-31.40% |
-44.76% |
4.28% |
-3.20% |
33.58% |
72.95% |
EPS Growth |
|
0.00% |
-5.41% |
-23.01% |
-16.67% |
-30.93% |
-44.76% |
4.60% |
-4.71% |
34.33% |
72.41% |
Operating Cash Flow Growth |
|
-44.03% |
-34.09% |
-66.04% |
-35.98% |
210.23% |
-155.19% |
22.34% |
-15.44% |
-130.76% |
482.30% |
Free Cash Flow Firm Growth |
|
-425.70% |
1,212.04% |
-822.80% |
1.85% |
10.91% |
-593.71% |
36.52% |
-56.35% |
-39.39% |
85.72% |
Invested Capital Growth |
|
11.79% |
-4.57% |
30.23% |
11.33% |
9.07% |
34.73% |
15.26% |
15.14% |
11.54% |
4.99% |
Revenue Q/Q Growth |
|
0.19% |
-2.10% |
-5.60% |
-3.05% |
-12.02% |
2.76% |
7.49% |
2.97% |
5.05% |
5.74% |
EBITDA Q/Q Growth |
|
-4.20% |
5.74% |
-16.55% |
-2.31% |
-9.99% |
-35.23% |
77.43% |
-8.24% |
6.16% |
14.81% |
EBIT Q/Q Growth |
|
-4.59% |
7.78% |
-17.23% |
-2.66% |
-22.70% |
-14.50% |
58.90% |
-8.97% |
6.62% |
16.07% |
NOPAT Q/Q Growth |
|
-5.05% |
7.60% |
-17.09% |
-2.66% |
-21.00% |
-13.35% |
56.51% |
-9.64% |
9.01% |
12.19% |
Net Income Q/Q Growth |
|
-5.05% |
7.60% |
-17.09% |
-2.66% |
-21.00% |
-13.35% |
56.51% |
-9.64% |
9.01% |
12.19% |
EPS Q/Q Growth |
|
-4.90% |
8.25% |
-17.14% |
-2.30% |
-21.18% |
-13.43% |
56.90% |
-10.99% |
11.11% |
11.11% |
Operating Cash Flow Q/Q Growth |
|
-43.21% |
34.66% |
-29.08% |
18.04% |
175.21% |
-123.96% |
257.20% |
-18.41% |
-200.10% |
397.79% |
Free Cash Flow Firm Q/Q Growth |
|
7.58% |
164.50% |
-521.54% |
60.94% |
16.11% |
-257.46% |
45.80% |
3.80% |
25.21% |
63.38% |
Invested Capital Q/Q Growth |
|
3.97% |
-15.13% |
30.85% |
-3.58% |
1.86% |
4.83% |
11.94% |
-3.68% |
-1.33% |
-1.32% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
41.63% |
44.96% |
39.75% |
40.05% |
40.97% |
25.83% |
42.63% |
37.99% |
38.39% |
41.68% |
EBIT Margin |
|
37.50% |
41.28% |
36.20% |
36.34% |
31.93% |
26.57% |
39.27% |
34.72% |
35.24% |
38.68% |
Profit (Net Income) Margin |
|
29.87% |
32.83% |
28.83% |
28.95% |
25.99% |
21.92% |
31.91% |
28.00% |
29.06% |
30.83% |
Tax Burden Percent |
|
79.65% |
79.52% |
79.65% |
79.65% |
81.40% |
82.49% |
81.25% |
80.66% |
82.46% |
79.70% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
20.35% |
20.48% |
20.35% |
20.35% |
18.60% |
17.51% |
18.75% |
19.34% |
17.54% |
20.30% |
Return on Invested Capital (ROIC) |
|
6.70% |
7.94% |
6.11% |
5.77% |
4.75% |
4.01% |
4.79% |
4.36% |
4.72% |
5.19% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
6.70% |
7.94% |
6.11% |
5.77% |
4.75% |
4.01% |
4.79% |
4.36% |
4.72% |
5.19% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.95% |
4.52% |
5.24% |
5.73% |
5.21% |
3.56% |
5.83% |
4.87% |
5.11% |
5.44% |
Return on Equity (ROE) |
|
11.65% |
12.46% |
11.34% |
11.50% |
9.96% |
7.56% |
10.61% |
9.23% |
9.84% |
10.63% |
Cash Return on Invested Capital (CROIC) |
|
-3.77% |
12.57% |
-19.74% |
-4.71% |
-3.32% |
-24.73% |
-10.08% |
-9.86% |
-6.38% |
0.17% |
Operating Return on Assets (OROA) |
|
1.29% |
1.39% |
1.21% |
1.18% |
0.97% |
0.76% |
1.10% |
0.97% |
1.03% |
1.19% |
Return on Assets (ROA) |
|
1.03% |
1.11% |
0.96% |
0.94% |
0.79% |
0.63% |
0.89% |
0.79% |
0.85% |
0.95% |
Return on Common Equity (ROCE) |
|
11.65% |
12.46% |
11.34% |
11.50% |
9.96% |
7.56% |
10.61% |
9.23% |
9.84% |
10.63% |
Return on Equity Simple (ROE_SIMPLE) |
|
14.52% |
0.00% |
12.34% |
11.71% |
10.85% |
0.00% |
8.76% |
8.56% |
8.84% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
13 |
15 |
NOPAT Margin |
|
29.87% |
32.83% |
28.83% |
28.95% |
25.99% |
21.92% |
31.91% |
28.00% |
29.06% |
30.83% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
43.79% |
43.90% |
44.99% |
47.47% |
52.93% |
54.14% |
52.06% |
49.22% |
48.93% |
45.41% |
Operating Expenses to Revenue |
|
56.71% |
57.72% |
59.27% |
63.42% |
69.60% |
71.96% |
65.78% |
63.77% |
64.23% |
59.62% |
Earnings before Interest and Taxes (EBIT) |
|
18 |
19 |
16 |
16 |
12 |
10 |
16 |
15 |
16 |
18 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
20 |
21 |
18 |
17 |
15 |
9.99 |
18 |
16 |
17 |
20 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.31 |
1.21 |
1.05 |
0.91 |
0.83 |
1.05 |
0.95 |
0.94 |
1.13 |
1.16 |
Price to Tangible Book Value (P/TBV) |
|
1.69 |
1.53 |
1.32 |
1.14 |
1.05 |
1.30 |
1.17 |
1.15 |
1.37 |
1.41 |
Price to Revenue (P/Rev) |
|
2.96 |
2.89 |
2.62 |
2.33 |
2.25 |
3.17 |
2.96 |
2.96 |
3.55 |
3.49 |
Price to Earnings (P/E) |
|
9.03 |
8.87 |
8.50 |
7.73 |
7.68 |
11.93 |
10.83 |
10.94 |
12.73 |
11.64 |
Dividend Yield |
|
4.04% |
4.28% |
4.84% |
5.66% |
6.26% |
4.73% |
5.14% |
5.15% |
4.11% |
3.97% |
Earnings Yield |
|
11.08% |
11.28% |
11.77% |
12.94% |
13.02% |
8.39% |
9.23% |
9.14% |
7.85% |
8.59% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.06 |
1.02 |
0.95 |
0.86 |
0.70 |
0.92 |
0.82 |
0.88 |
0.93 |
0.88 |
Enterprise Value to Revenue (EV/Rev) |
|
4.98 |
4.13 |
5.06 |
4.53 |
4.02 |
5.80 |
5.88 |
6.02 |
6.05 |
5.35 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
10.87 |
9.16 |
11.90 |
10.86 |
9.68 |
15.76 |
15.67 |
16.28 |
16.60 |
13.32 |
Enterprise Value to EBIT (EV/EBIT) |
|
12.09 |
10.11 |
13.09 |
11.95 |
10.96 |
17.60 |
17.44 |
18.09 |
17.74 |
14.47 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
15.15 |
12.68 |
16.43 |
15.00 |
13.71 |
21.84 |
21.51 |
22.23 |
21.73 |
17.87 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
8.19 |
7.41 |
12.25 |
12.20 |
6.94 |
14.04 |
13.35 |
14.21 |
157.77 |
15.54 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
7.96 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
519.47 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.08 |
0.69 |
1.14 |
1.05 |
1.11 |
1.07 |
1.29 |
1.17 |
1.06 |
1.03 |
Long-Term Debt to Equity |
|
0.10 |
0.10 |
0.10 |
0.09 |
0.10 |
0.09 |
0.09 |
0.09 |
0.08 |
0.08 |
Financial Leverage |
|
0.74 |
0.57 |
0.86 |
0.99 |
1.10 |
0.89 |
1.22 |
1.12 |
1.08 |
1.05 |
Leverage Ratio |
|
11.32 |
11.26 |
11.76 |
12.27 |
12.67 |
12.03 |
11.91 |
11.75 |
11.60 |
11.22 |
Compound Leverage Factor |
|
11.32 |
11.26 |
11.76 |
12.27 |
12.67 |
12.03 |
11.91 |
11.75 |
11.60 |
11.22 |
Debt to Total Capital |
|
51.92% |
40.68% |
53.30% |
51.31% |
52.62% |
51.70% |
56.29% |
54.01% |
51.41% |
50.64% |
Short-Term Debt to Total Capital |
|
46.97% |
34.86% |
48.85% |
46.69% |
48.08% |
47.38% |
52.42% |
50.00% |
47.35% |
46.52% |
Long-Term Debt to Total Capital |
|
4.95% |
5.83% |
4.45% |
4.62% |
4.53% |
4.33% |
3.86% |
4.01% |
4.06% |
4.12% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
48.08% |
59.32% |
46.70% |
48.69% |
47.38% |
48.30% |
43.71% |
45.99% |
48.59% |
49.36% |
Debt to EBITDA |
|
5.33 |
3.64 |
6.70 |
6.51 |
7.23 |
8.82 |
10.71 |
10.05 |
9.15 |
7.66 |
Net Debt to EBITDA |
|
4.39 |
2.75 |
5.74 |
5.27 |
4.26 |
7.16 |
7.78 |
8.27 |
6.87 |
4.64 |
Long-Term Debt to EBITDA |
|
0.51 |
0.52 |
0.56 |
0.59 |
0.62 |
0.74 |
0.74 |
0.75 |
0.72 |
0.62 |
Debt to NOPAT |
|
7.44 |
5.04 |
9.25 |
9.00 |
10.24 |
12.22 |
14.70 |
13.71 |
11.98 |
10.28 |
Net Debt to NOPAT |
|
6.13 |
3.81 |
7.93 |
7.28 |
6.03 |
9.91 |
10.68 |
11.29 |
9.00 |
6.23 |
Long-Term Debt to NOPAT |
|
0.71 |
0.72 |
0.77 |
0.81 |
0.88 |
1.02 |
1.01 |
1.02 |
0.95 |
0.84 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-80 |
52 |
-218 |
-85 |
-72 |
-256 |
-139 |
-133 |
-100 |
-37 |
Operating Cash Flow to CapEx |
|
3,838.38% |
2,451.26% |
2,932.53% |
3,178.85% |
6,775.14% |
-1,266.48% |
3,258.53% |
1,124.92% |
-847.63% |
2,125.39% |
Free Cash Flow to Firm to Interest Expense |
|
-11.87 |
4.20 |
-11.84 |
-3.65 |
-2.85 |
-9.44 |
-4.79 |
-4.45 |
-3.31 |
-1.30 |
Operating Cash Flow to Interest Expense |
|
2.25 |
1.66 |
0.79 |
0.73 |
1.88 |
-0.42 |
0.61 |
0.48 |
-0.48 |
1.54 |
Operating Cash Flow Less CapEx to Interest Expense |
|
2.19 |
1.59 |
0.76 |
0.71 |
1.85 |
-0.45 |
0.60 |
0.44 |
-0.54 |
1.47 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
|
5.11 |
5.11 |
5.11 |
5.02 |
4.81 |
4.60 |
4.56 |
4.57 |
4.74 |
4.91 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
896 |
761 |
996 |
960 |
978 |
1,025 |
1,147 |
1,105 |
1,091 |
1,076 |
Invested Capital Turnover |
|
0.22 |
0.24 |
0.21 |
0.20 |
0.18 |
0.18 |
0.15 |
0.16 |
0.16 |
0.17 |
Increase / (Decrease) in Invested Capital |
|
95 |
-36 |
231 |
98 |
81 |
264 |
152 |
145 |
113 |
51 |
Enterprise Value (EV) |
|
948 |
779 |
942 |
821 |
689 |
947 |
945 |
968 |
1,017 |
947 |
Market Capitalization |
|
565 |
545 |
487 |
423 |
386 |
517 |
476 |
476 |
596 |
617 |
Book Value per Share |
|
$29.47 |
$30.98 |
$31.91 |
$32.03 |
$31.83 |
$34.01 |
$34.43 |
$34.80 |
$36.36 |
$36.44 |
Tangible Book Value per Share |
|
$22.88 |
$24.37 |
$25.31 |
$25.45 |
$25.25 |
$27.43 |
$27.87 |
$28.27 |
$29.82 |
$29.92 |
Total Capital |
|
896 |
761 |
996 |
960 |
978 |
1,025 |
1,147 |
1,105 |
1,091 |
1,076 |
Total Debt |
|
465 |
310 |
531 |
493 |
514 |
530 |
646 |
597 |
561 |
545 |
Total Long-Term Debt |
|
44 |
44 |
44 |
44 |
44 |
44 |
44 |
44 |
44 |
44 |
Net Debt |
|
383 |
234 |
455 |
398 |
303 |
430 |
469 |
491 |
421 |
330 |
Capital Expenditures (CapEx) |
|
0.40 |
0.84 |
0.50 |
0.54 |
0.70 |
0.89 |
0.55 |
1.29 |
1.71 |
2.03 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
465 |
310 |
531 |
493 |
514 |
530 |
646 |
597 |
561 |
545 |
Total Depreciation and Amortization (D&A) |
|
1.97 |
1.72 |
1.57 |
1.59 |
3.41 |
-0.29 |
1.40 |
1.40 |
1.42 |
1.43 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.97 |
$1.05 |
$0.87 |
$0.85 |
$0.67 |
$0.59 |
$0.91 |
$0.82 |
$0.90 |
$1.00 |
Adjusted Weighted Average Basic Shares Outstanding |
|
14.62M |
14.64M |
14.57M |
14.56M |
14.56M |
14.56M |
14.57M |
14.59M |
14.58M |
14.58M |
Adjusted Diluted Earnings per Share |
|
$0.97 |
$1.05 |
$0.87 |
$0.85 |
$0.67 |
$0.58 |
$0.91 |
$0.81 |
$0.90 |
$1.00 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
14.68M |
14.70M |
14.63M |
14.60M |
14.60M |
14.61M |
14.63M |
14.65M |
14.65M |
14.63M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
14.57M |
14.57M |
14.59M |
14.55M |
14.56M |
14.57M |
14.61M |
14.57M |
14.58M |
16.86M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
14 |
15 |
13 |
12 |
9.79 |
8.48 |
13 |
12 |
14 |
15 |
Normalized NOPAT Margin |
|
29.87% |
32.83% |
28.83% |
28.95% |
25.99% |
21.92% |
31.91% |
28.00% |
30.39% |
30.83% |
Pre Tax Income Margin |
|
37.50% |
41.28% |
36.20% |
36.34% |
31.93% |
26.57% |
39.27% |
34.72% |
35.24% |
38.68% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.65 |
1.56 |
0.87 |
0.67 |
0.48 |
0.38 |
0.57 |
0.50 |
0.53 |
0.66 |
NOPAT to Interest Expense |
|
2.11 |
1.24 |
0.69 |
0.53 |
0.39 |
0.31 |
0.46 |
0.40 |
0.43 |
0.52 |
EBIT Less CapEx to Interest Expense |
|
2.59 |
1.50 |
0.84 |
0.64 |
0.45 |
0.35 |
0.55 |
0.45 |
0.47 |
0.58 |
NOPAT Less CapEx to Interest Expense |
|
2.05 |
1.18 |
0.66 |
0.51 |
0.36 |
0.28 |
0.44 |
0.36 |
0.38 |
0.45 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
36.80% |
38.27% |
41.37% |
43.82% |
48.25% |
56.56% |
55.86% |
56.37% |
52.43% |
46.33% |
Augmented Payout Ratio |
|
60.99% |
54.94% |
58.17% |
52.96% |
52.77% |
61.17% |
60.41% |
60.01% |
55.94% |
49.37% |
Key Financial Trends
Camden National (NASDAQ: CAC) has demonstrated solid financial performance throughout the last four years, with its latest Q4 2024 results reflecting consistent growth and operational strength. Below is an analysis highlighting key trends and important observations based on the quarterly income statements, cash flow statements, and balance sheets.
- Net Interest Income Growth: Net interest income increased from $31.3 million in Q1 2024 to $35.4 million in Q4 2024, showing strong core banking earnings driven by higher loans and leases interest income.
- Consistent Net Income Growth: Quarterly net income attributable to common shareholders rose from $13.3 million in Q1 2024 to $14.7 million in Q4 2024, indicating steady profitability growth.
- Dividend Stability and Increase: Camden paid consistent quarterly dividends of $0.42 per share in 2024, up from $0.40 per share in 2023, supporting an attractive yield for investors.
- Strong Operating Cash Flow in 2024 Q4: The company generated $43.2 million in net cash from operating activities in Q4 2024, improving liquidity and operational cash strength compared to negative operating cash flows in Q3 2024.
- Growing Loan Portfolio: Net loans and leases increased from approximately $4.035 billion at Q1 2023 to about $4.081 billion by Q3 2024, reflecting business expansion and client demand.
- Fluctuating Provision for Credit Losses: While provisions spiked negatively in Q1 2024 due to a credit recovery, the general trend maintains moderate reserves, implying prudent credit risk management.
- Balance Sheet Growth with Stable Equity: Total assets grew from about $5.71 billion in Q1 2023 to roughly $5.75 billion in Q3 2024, while total common equity rose modestly from $464.9 million to $529.9 million during the period, maintaining a solid capital base.
- Debt Issuance and Repayment Activity: The company actively manages debt, with significant issuance and repayments each quarter; for instance, Q4 2024 saw $119 million issuance and $135 million repayment, impacting leverage but reflecting active balance sheet management.
- Volatile Non-Interest Income: Non-interest income has fluctuated somewhat, with periods of negative other service charges in prior quarters, notably in Q4 2023, which can pressure total revenue.
- Increasing Non-Interest Expenses: Total non-interest expenses generally trend upward, reaching $28.4 million in Q4 2024 and exceeding earlier quarters, driven by salaries, occupancy, and other operating expenses; this may pressure earnings if revenue growth slows.
Overall Summary: Camden National exhibits steady growth in its core banking revenue streams, supported by a strong net interest margin expansion and a growing loan portfolio. The company maintains solid profitability and liquidity, with controlled credit loss provisions and stable equity levels. Nonetheless, investors should monitor the rising non-interest expenses and fluctuating non-interest income components, which could impact future earnings. The consistent dividend increases reflect management's confidence in ongoing cash flow generation.
10/14/25 01:16 AM ETAI Generated. May Contain Errors.