Press release
Camden National Corporation Reports Third Quarter 2025 Earnings
Camden National Reports Record Net Income of $21.2 Million for the Third Quarter CAMDEN, Maine, Oct. 28, 2025 /PRNewswire/ -- Camden National Corporation
About this update from Camden National Corporation
[{"type":"text","content":"\n Camden National Reports Record Net Income of $21.2 Million for the Third Quarter\n \n \n CAMDEN, Maine, Oct. 28, 2025 /PRNewswire/ -- Camden National Corporation (NASDAQ: CAC; \"Camden National\" or the \"Company\") reported earnings for the quarter ended September 30, 2025, of $21.2 million and diluted earnings per share (\"EPS\") of $1.25, both increases of 51%, compared to the second quarter of 2025. For the third quarter ended September 30, 2025, the Company reported a return on average assets of 1.21%, a return on average equity of 12.75% and a return on average tangible equity (non-GAAP) of 19.14%.\n \"We are proud to report record third quarter earnings of $21.2 million, setting a new highwater mark for the organization, and diluted earnings per share of $1.25, marking our strongest quarterly performance since 2021,\" said Simon Griffiths, President and Chief Executive Officer of Camden National. \"These financial results reflect the strength and resilience of our core franchise and mark a pivotal moment for the organization. With the successful acquisition and integration of Northway Financial, Inc. earlier this year, we are well-positioned to accelerate growth and deliver sustained value for our shareholders.\"\n \n \n THIRD QUARTER 2025 HIGHLIGHTS\n \n \n \n Net income for the third quarter of 2025 totaled $21.2 million, an increase of 51% over the second quarter of 2025, and, on a non-GAAP basis, pre-tax, pre-provision income increased 19% over the same period to $29.5 million for the third quarter of 2025.\n Net interest margin for the third quarter of 2025 increased 10 basis points to 3.16%, compared to the second quarter of 2025.\n The GAAP efficiency ratio for the third quarter of 2025 was 54.94% and was 52.47% on a non-GAAP basis, improving from 60.37% and 55.47%, respectively, compared to the second quarter of 2025.\n Loans for the third quarter of 2025 grew 4% on an annualized basis.\n Book value per share increased 4% during the third quarter of 2025 to $39.97 at September 30, 2025, and tangible book value per share (non-GAAP) increased 6% during the same period to $28.42 at September 30, 2025.\n \n \n \n FINANCIAL CONDITION\n \n \n As of September 30, 2025, total assets were $7.0 billion, representing a 1% increase since June 30, 2025.\n Investments totaled $1.4 billion on September 30, 2025, representing ...