Camden National Corp. (Nasdaq: CAC), the parent company of Camden National Bank, reported record fourth-quarter results that beat market expectations.
Adjusted diluted earnings per share amounted to $1.33, up from $1.03 a year ago and beating the $1.32 estimate of analysts polled by Zacks Investment Research. The figures are adjusted for non-recurring items.
Over the last four quarters, the company has twice surpassed consensus earnings per share estimates.
“We are delighted to report record-breaking quarterly performance, powered by strong execution of our strategic initiatives and continued expansion of our net interest margin, reaching 3.29% for the fourth quarter,” Simon Griffiths, president and CEO, said in Tuesday’s earnings release.
“Our balance sheet remains exceptionally strong and credit metrics continue to trend favorably,” he added. “We are more confident than ever in our strategy to build the premier community bank in Northern New England, and our strong 2025 financial results provide a powerful foundation for the growth and opportunities ahead.”
Growth in assets, deposits
Assets climbed 20% in 2025 to $7 billion, mainly due to last year’s acquisition of North Conway, N.H.-based Northway Bank to expand its footprint in the Granite State.
Deposits totaled $5.5 billion at the end of 2025, up 2% from the previous quarter. Camden National pointed to a 3% increase in non-maturity deposits, reflecting continued strength in its high-yield savings and interest-checking products during the fourth quarter.
As of the end of last year, the loan-to-deposit ratio was 90%, down slightly from 93% three months earlier.
Founded in 1875, Camden National has 72 branches across Maine and New Hampshire.
Based on assets as of June 30, 2025, Camden National was ranked the second-largest Maine-based bank in the 2026 Mainebiz Book of Lists, just behind Bangor Savings Bank.
As of Wednesday’s market close, Camden National shares have an equity value of around $801.8 million. Shares are trading 6.26% higher than a year ago.
