Camden National Corporation · NASDAQ:CAC
Camden National — Investor Presentation (February 2013)
19 slides from Camden National's investor presentation, Feb 11, 2013
Slide 1: February 11, 2013
February 11, 2013 NASDAQ : CAC
Slide 2: Safe Harbor Statement
Safe Harbor Statement The information presented may contain forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current beliefs and expectations and are subject to significant risks and uncertainties some of which a
Slide 3: Corporate Snapshot
Camden National Corporation Corporate Snapshot • Headquartered in Camden, ME; Founded 1875 • Subsidiaries: • Camden National Bank - $2.6B Assets • Acadia Trust - $778MM AUM • 525 Employees • 50 Branch Locations Financial Overview Shareholder Profile • Shares Outstanding 7.6 million • Institutional 2
Slide 4: Camden National Corporation Profile
Camden National Corporation Profil e 3 • Founded 1875 in Camden, Maine • Largest publicly traded community bank in Maine and Northern New England • Second largest Maine based bank • Fourth in the state for deposit market share
Slide 5: Financial Highlights As of 12/31/12
4 (in 000’s) 2012 2011 Loans $1,564 $1,520 Investment Securities 802 612 Total Assets 2,565 2,303 Deposits (a) 1,929 1,591 Borrowings 360 456 Shareholders’ Equity 234 219 (a) 2012 includes $287 million of acquired deposits Financial Highlights As of 12/31/12
Slide 6: Financial Highlights As of 12/31/12
5 2012 (a) 2011 Net Income (in millions) $23.4 $26.2 Diluted Earnings per Share $3.05 $3.40 Return on Tangible Equity 12.95% 15.42% Return on Assets 0.98% 1.13% Efficiency Ratio 57.45% 54.68% Net Interest Margin 3.36% 3.57% (a) 2012 includes one - time branch acquisition costs of $2.3 million Financ
Slide 7: Loans and Funding
Checking 31% Savings/Money Market 30% CD's 23% Borrowings 16% Funding Mix Home Equity/ Consumer 19% Commercial Real Estate 32% Residential Mortgages 37% Commercial 12% Loan Portfolio Total Loans: $1.56 billion Yield: 4.62% Funding: $2.29 billion Total Funding Cost: 0.71% Deposit Cost: 0.41% 6 Loans
Slide 8: Investment Portfolio
Portfolio Stats Market Value $781 Million Average Yield 2.41% Duration 3.6 Years Premium $8.3 Million Premium as % of Portfolio 1.1% Investment Portfolio As of 12/31/12 7 MBS $345 45% Agency CMO $376 50% Municipals $31 4% Non - Agency $9 1% Book Value - $761 Million Excludes FRB/FHLB stock of $21 mi
Slide 9: Deposit Market Share
8 Source: FDIC Deposit Market Share data as of 6/30/12 adjusted for deposits acquired Maine 2012 Rank Institution 2012 Number of Branches 2012 Total Deposits in Market ($000) 2012 Total Market Share (%) 1 TD Bank 55 3,708,955 16.23 2 Key Bank 61 2,662,362 11.65 3 Bangor Savings Bank 58 2,019,820 8.8
Slide 10: Core Strengths
Core Strengths • Solid track record of organic and acquired growth • Above peer earnings performance • Disciplined risk management culture • Consistent shareholder returns 9
Slide 11: Solid Track Record of Organic and Acquired Growth
10 Solid Track Record of Organic and Acquired Growth Asset Growth History Source: SNL Financial $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Total Assets (in millions) United Corp. $54 million KSB Bancorp $1
Slide 12: Above Peer Earnings Performance
Above Peer Earnings Performance • Consistent , top - quartile performance against Northeast and National peer groups • Driven to create consistent returns for our shareholders • Efficient operations focused on revenue generation Proxy Peer – Average of 20 publicly traded commercial and savings banks
Slide 13: Disciplined Risk Management Culture
Disciplined Risk Management Culture 12.32% 13.49% 15.05% 15.95% 15.56% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 2008 2009 2010 2011 2012 12 0.71% 1.13% 1.08% 1.27% 1.13% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 2008 2009 2010 2011 2012 • Strong capital growth to support future loan growth • Credit qualit
Slide 14: Consistent Shareholder Returns
13 Consistent Shareholder Returns Source: SNL Financial • Earnings per share compound annual growth of 6.01% over a 15 - year period • Tangible book value compound annual growth of 6.68% over a 15 - year period • One of 45 high - performing banks to be named to the 2011 KBW Bank Honor Roll. One of o
Slide 15: 14 Branch Acquisition Unique Expansion Opportunity
• Strategically Compelling • Contiguous expansion – I - 95 corridor fills - out footprint • Increased market share in Maine from 7.22% to 8.31% • Added $287 million in core deposits and 14 branches • Financially Attractive • Accretive within 14 months of acquisition • Pro forma Tangible Book Value d
Slide 16: Branch Acquisition: Contiguous Expansion
15 Source: SNL Financial Branch Acquisition Strategically Compelling - Contiguous Expansion Filled in Camden National’s footprint and increased the branch network from 38 to 50 banking locations
Slide 17: Branch Acquisition Cost of Acquisition
($ in 000s) Acquired Divested Net Acquired Deposits $318,949 $32,290 $286,659 Premium on deposits (a) 12,035 3,333 8,702 Fixed assets 5,029 3,000 2,029 Total acquisition cost $ 17,064 $ 6,333 $ 10,731 # of Accounts 60,153 5,030 55,123 Cost per account $283.68 - $194.67 (a) Premium on deposits paid o
Slide 18: Awards and Recognition
17 “Financial Institution of the Year” by Finance Authority of Maine 2009, 2011, and 2012 KBWs “ Bank Honor Roll” 2011 and 2012 Forbes one of “America’s Most Trustworthy Companies ” 2012
Slide 19: Proxy Peer Group
Proxy Peer Group 18 Alliance Financial Corporation - NY Arrow Financial Corporation - NY Bar Harbor Bankshares - ME Berkshire Hills Bancorp, Inc. - MA Brookline Bancorp, Inc. - MA Canandaigua National Corporation - NY Century Bancorp, Inc. - MA Enterprise Bancorp, Inc. - MA Financial Institutions, I
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