Gregory Dufour

Rebecca Hatfield, who recently succeeded Dana Totman at Avesta, will serve on the boards of Camden National Corp. and Camden National Bank, effective Dec. 31, 2022.

The holding company of Camden National Bank reported that earnings for the second quarter were 11% less than the first-quarter total. A higher provision for credit losses accounted for the fall, the bank said.

The bank holding company reported that net income rose 2% from the last quarter of 2021. The year-over-year decline was expected, CEO Gregory Dufour said.

Camden National Corp.' s fourth-quarter earnings dropped due to a variety of factors, the company said. However, the company recorded net income of $69 million for all of 2021, a 16% increase over 2020's total.

With cases mounting and the omicron variant of the disease raging throughout Maine, banks and credit unions are taking new steps to keep employees and customers safe — and monitoring the health crisis daily.

Camden National Bank reported second-quarter net income of $18.1 million, up 66% over the same period last year, amid loan growth in residential mortgages and commercial real estate.

Bangor Savings and Camden National, the largest Maine-based banks, ranked high on recent lists from Forbes magazine and J.D. Power Inc.

Diluted earnings per share were up 46% over the same period last year at $1.31, exceeding market expectations. Increases in mortgage lending as well as PPP loans boosted results.

The emergency loan program started last year with initial funding of $349 million, but in two weeks the money was gone. Businesses and banks had to scramble and get what they could. The PPP has been a lifesaver, but has also taught Mainers to learn and adapt.

Financial institutions in Maine were growing and expanding as the pandemic began, and have been able to maintain some of that momentum. Much of their work in 2021 will focus on helping Maine businesses get back on their feet.