Business
Camden National Corporation Delivers Solid First Quarter 2026 Results with Net Income of $21.9 Million and Diluted EPS of $1.29
Camden National Corporation (NASDAQ: CAC; "Camden National" or the "Company") reported net income of $21.9 million and diluted earnings per share ("EPS") of $1.29 for the quarter ended March 31, 2026, resulting in a return on average assets of 1.28%, a return on average equity of 12.58%, and a return on average tangible equity (non‑GAAP) of 18.17%.
About this update from Camden National Corporation
[{"type":"text","content":"CAMDEN, Maine, April 28, 2026 /PRNewswire/ -- Camden National Corporation (NASDAQ: CAC; "Camden National" or the "Company") reported net income of $21.9 million and diluted earnings per share ("EPS") of $1.29 for the quarter ended March 31, 2026, resulting in a return on average assets of 1.28%, a return on average equity of 12.58%, and a return on average tangible equity (non‑GAAP) of 18.17%.","length":426,"tagName":"p"},{"type":"text","content":""Our reported net income of nearly $22 million for the first quarter reflects the benefits of the acquisition we completed last year, including our ability to efficiently scale the combined organization and accelerate our strategy to grow and strengthen our franchise," said Simon Griffiths, President and Chief Executive Officer of Camden National Corporation. "We delivered solid performance in the first quarter through strong asset quality, expense management and deposit growth. Looking ahead, we remain focused on sustained growth and disciplined execution as we continue to meet our customers' evolving needs through advice-based conversations."","length":676,"tagName":"p"},{"type":"text","content":"FIRST QUARTER 2026 HIGHLIGHTS","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income for the first quarter was $21.9 million, compared to $7.3 million for the first quarter of 2025 and $22.6 million for the fourth quarter of 2025 ("linked-quarter"). On a non‑GAAP basis, adjusted net income was $21.9 million, compared to $15.8 million for the first quarter of 2025 and $22.6 million for the fourth quarter of 2025, representing a year‑over‑year increase of 39% and a linked‑quarter decrease of 3%.","length":434,"tagName":"p"}]},{"val":[{"type":"text","content":"Diluted EPS for the first quarter was $1.29, compared to $0.43 for the first quarter of 2025 and $1.33 for the fourth quarter of 2025. On a non‑GAAP basis, adjusted diluted earnings per share was $1.29, compared to $0.93 for the first quarter of 2025 and $1.33 for the fourth quarter of 2025, representing a year‑over‑year increase of 39% and a linked‑quarter decrease of 3%.","length":375,"tagName":"p"}]},{"val":[{"type":"text","content":"The GAAP efficiency ratio for the first quarter was 55.50%, and the non-GAAP efficiency ratio was 5...