Camden National Corporation · NASDAQ:CAC
Camden National — Shareholder Meeting (April 2019)
27 slides from Camden National's shareholder meeting presentation, Apr 30, 2019
Slide 1: 2019 Annual Shareholders Meeting
2019 Annual Shareholders Meeting
Slide 2: Welcome to the 2019 Annual Shareholders' Meeting
Welcome to the 2019 Annual Shareholders’ Meeting Lawrence Sterrs Chair of the Board 1
Slide 3: Agenda
Agenda Business Meeting • Introductions • Reading of the Minutes • Shareholder Voting Presentations • Financial Results – Debbie Jordan • Business Overview – Greg Dufour Questions and Answers 2
Slide 4: Camden National Corporation Board of Directors
Camden National Corporation Board of Directors • Larry Sterrs, Chair • Marie McCarthy • Gregory Dufour, Pres/CEO • Catherine Longley • Ann Bresnahan • James Page, Ph.D. • Craig Denekas • Robin Sawyer • David Flanagan • Carl Soderberg 3
Slide 5: Camden National Bank Board of Directors
Camden National Bank Board of Directors • Larry Sterrs, Chair • James Markos, Jr. • Gregory Dufour, Pres/CEO • Marie McCarthy • Ann Bresnahan • Robert Merrill • William Dubord • Robin Sawyer • David Flanagan • Carl Soderberg 4
Slide 6: Senior Management Team
Senior Management Team • Gregory Dufour, President and Chief Executive Officer • Joanne Campbell, EVP - Risk Management Officer • Debbie Jordan, CPA, EVP – COO and CFO • Jennifer Mirabile, SVP – Director of Wealth Management • Tim Nightingale, EVP - Senior Loan Officer • Heather Robinson, SVP – Chie
Slide 7: Meeting Minutes
- Chonden NATIONAL CORPORATION Meeting Minutes
Slide 8: Proposals
Proposals Proposal 1: Election of Directors • Craig Denekas • David Flanagan • Marie McCarthy • James Page Proposal 2: “Say On Pay” Proposal 3: Ratification of Independent Registered Public Accounting Firm • RSM US LLP 7
Slide 9: Submission of Proxy Votes
oe Chonden NATIONAL CORPORATION Submission of Proxy Votes
Slide 10: Camden National Corporation
Camden National Corporation 9
Slide 11: Financial Results for 2018 and First Quarter 2019
Financial Results for 2018 and First Quarter 2019 Debbie Jordan Executive Vice President, Chief Operating and Financial Officer 10
Slide 12: Forward Looking Statements and Non-GAAP Financial Measures
Forward Looking Statements and Non-GAAP Financial Measures FORWARD LOOKING STATEMENTS This presentation contains certain statements that may be considered forward-looking statements under the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including certain plans,
Slide 13: 2018 Financial Performance
2018 Financial Performance Adjusted Net Income(1) (In Millions) • Loans up 9% $53.1 $53.1 • Deposits up 15% $42.7 $40.6 • Net Charge-offs: 0.01% $40.1 $14.2 Tax $28.2 Impact • Strong Return on: $24.6 $7.2 $28.5 • Assets: 1.28% $24.6 M&A $21.0 • Tangible Equity: 17.22%(1) 2014 2015 2016 2017 2018 (1)
Slide 14: 1st Quarter 2019 Financial Results
1st Quarter 2019 Financial Results Net Income (in millions) $14.3 Q1 2018 Q1 2019 $12.8 Return on Assets 1.28% 1.33% Return on Tangible 17.35% 17.08% Equity (1) Dividends Per Share $ 0.25 $ 0.30 Q1 '18 Q1 '19 (1) This is a non-GAAP measure. Please refer to the Company’s 2018 Annual Report on Form 10
Slide 15: Three Year Total Return
Three Year Total Return April 1, 2016 to March 31, 2019 Camden National Corporation 61.95% KBW Bank Index 54.73% SNL $1B to $5B Bank Index 48.86% Russell 2000 43.52% Proxy Peer Average 35.62% Proxy Peer – Average of 19 publicly traded commercial and savings banks in the Northeast. Source: SNL Financ
Slide 16: Voting Results
Voting Results Larry Sterrs Chair of the Board 15
Slide 17: Business Overview
Business Overview Greg Dufour President and Chief Executive Officer 16
Slide 18: Who We Are
Who We Are We are the largest publicly traded bank headquartered in Northern New England. • $4.4 billion in assets • 60 banking centers in Maine • 3 loan production offices • New Hampshire (2) • Massachusetts (1) • $650+ million market cap • Analyst Coverage: •Piper Jaffrey (overweight) •KBW (market
Slide 19: How We Define Ourselves
How We Define Ourselves Our Core Values Honesty & Integrity above all else Trust built on fairness Service creating remarkable experiences Responsibility to use resources for the greater good Excellence through hard work and lifelong learning Delivered consistently to our constituents: Customers C
Slide 20: Commitment to Our Customers
Commitment to Our Customers 2018 Listening & Transacting Channels(1) After-hours: All communication: 18% 9% Increase in total calls Increase in total outside of regular outreach to our business hours to our Customer Care Team Customer Care Team (by phone, live chat and email) In-person: BY ATM: 2,98
Slide 21: Technology Expenditures
Technology Expenditures • Talented and innovated technology team • Strong infrastructure in place • Focused approach to better serve our customers 2019 Forecasted Represents 15% of Camden’s operating expenses 20
Slide 22: Cyber Risk Focus
Cyber Risk Focus Through technology and strategic partnerships, we seek to deliver robust cyber defenses to stay ahead of risks 1 Third Party Risks 2 Phishing / Social Engineering 3 Malware / Ransomware 4 Insider Risk 5 Internet of Things (IoT) • Strong risk culture and governance structure • Strong
Slide 23: Supporting Our Communities
Supporting Our Communities Waterville Banking Center: New open banking concept In-Person Guidance Technology 22
Slide 24: Social Responsibility
Social Responsibility Hope@Home Employee $367,600 Commitment. (since 2015) $114,700 50 2018 Donations Homeless Shelters 17,000+ Employee volunteer hours recorded in 2018 Financial Fitness. New, online educational 1 in 5 resource for employees. Employees serve on nonprofit boards 23
Slide 25: Our Employees
Our Employees “Stakeholders” Competitive and fair employee compensation is critical to attracting, retaining and rewarding the best talent. Provide Meaningful Work Cultivate Reward Growth Excellence Opportunities 24
Slide 26: Why Camden National?
Why Camden National? • Strong board governance; “low risk” ISS rating • Top tier employee engagement • Strong commitment to customers • Socially responsible full-service community bank • Strategically focused on long-term performance • Strong shareholder returns • 62% total return vs. 36% proxy peer
Slide 27: Question & Answers
Question & Answers - Chonden NATIONAL CORPORATION