Camden National Corporation posted record third‑quarter earnings for the period ended September 30 2025, reporting net income of $21.2 million and diluted earnings per share of $1.25—an increase of 51 % over the second quarter. The company’s diluted EPS surpassed analyst estimates of $1.19, and total revenue of $65.4 million exceeded the $62.76 million forecast.
Total assets stood at $7.0 billion, with loans of $5.0 billion and deposits of $5.4 billion, giving a loan‑to‑deposit ratio of 93 %. Net interest income reached $51.3 million and the net interest margin expanded to 3.16 %. Non‑interest income grew to $14.1 million, driven by fee activity and a $675,000 net gain from the sale of two non‑branch bank properties. Operating costs were $35.9 million, resulting in a GAAP efficiency ratio of 54.94 %—down from 60.37 % in Q2.
Asset quality remained strong, with non‑performing assets at 0.12 % of total assets and past‑due loans at 0.16 % of total loans. The allowance for credit losses on loans was 0.91 % of total loans, and the company recorded a provision expense of $3.0 million, including a $4.7 million partial charge‑off for a syndicated loan that entered bankruptcy.
The record earnings were supported by disciplined underwriting, low non‑performing loan ratios, and cost synergies from the Northway Financial acquisition, which closed on January 2 2025. The acquisition contributed a $1.1 million reduction in merger and acquisition costs between Q2 and Q3, and the integration has helped lower non‑interest expense.
The company declared a cash dividend of $0.42 per share on September 30 2025, with a record date of October 15 and a payable date of October 31. A conference call to discuss the results and outlook is scheduled for October 28.
Regulatory capital ratios remain well above requirements, and the company continues to strengthen its capital position following the Northway acquisition.
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