Camden National Corporation · NASDAQ:CAC
Camden National — Investor Presentation (June 2024)
19 slides from Camden National's investor presentation, Jun 20, 2024
Slide 1: Camden National Corporation Investor Presentation
g ~ Simon Griffiths | President & Chief Executive Officer Mike Archer | EVP, Chief Financial Officer June 20, 2024
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
2 Forward-Looking Statements and Non-GAAP Financial Measures 2 Forward-Looking Statements. This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including certain plans, exceptions,
Slide 3: Overview
3 Overview As of March 31, 2024 $5.8 billion assets $4.6 billion deposits $4.1 billion loans $2.0 billion assets under administration Largest publicly traded bank headquartered in Northern New England (parent company of Camden National Bank) Analyst Coverage: KBW (market perform) Janney (market perf
Slide 4: Rewarded & Recognized
4 Rewarded & Recognized Investments in talent, technology, and communities continue to drive results “World’s Best Banks” Listed by Forbes 4th Year “Best Places to Work in Maine” Best Companies Group 3rd Year Executing against integrated small business approach with local expertise and solutions “Le
Slide 5: Deeply Engaged, Experienced Management Team
5 Deeply Engaged, Experienced Management Team Simon Griffiths President and CEO • Served as head of core banking at Citizens Bank • Joined 2023 • 22+ years of industry experience Trish Rose EVP, Retail & Mortgage Banking • 25+ years of industry experience Barbara Raths EVP, Commercial Banking • 18+
Slide 6: 2023 Corporate Responsibility Highlights
6 2023 Corporate Responsibility Highlights All data presented for the year ended or as of December 31, 2023. Proactively making life better for the people and places we serve May 2024 - introduced 8 hours of volunteer PTO. Our Investor Relations site provides a suite of ESG disclosures, including ou
Slide 7: Why Camden National?
7 Why Camden National? History of strong financial performance and stable growth • Over a 10-year horizon, total return has exceeded industry peers, and total assets have grown at an 8% compounded growth rate • Strong fundamentals supported by robust capital, liquidity, and core deposits • Track rec
Slide 8: Creating Long-Term Shareholder Value
8 May-14 May-15 May-16 May-17 May-18 May-19 May-20 May-21 May-22 May-23 May-24 CAC Proxy Peers S&P SmallCap Banks Russell2000 82% 106% 47% 78% Creating Long-Term Shareholder Value 8 Source: S&P Global. Return data shown in the above line graph and performance chart represents total return. Total ret
Slide 9: Driving Innovation Across our Business
9 Advancing technology for greater efficiency and customer experience • Near 2 million bots in production • New state-of-the-art mobile and online account opening platform scheduled to go live at year-end • Introduced “Cam,” a phone banking assistant that utilizes AI to better serve customers at the
Slide 10: Current Financial Update
10 Current Financial Update 10
Slide 11: 1Q 2024 Financial Highlights
11 1Q 2024 Financial Highlights 11 • Net income for the first quarter of 2024 was $13.3 million, an increase of $4.8 million, or 57%, compared to the fourth quarter of 2023. Over the same period, adjusted net income (non-GAAP) increased $143,000, an increase of 1%. • Strong asset quality highlighted
Slide 12: Net Interest Margin and Interest Rate Sensitivity
12 Year 1 NII(2) Year 2 NII(2) Up 200BP -1.91% 6.08% Base 0.00% 12.44% Down 200BP 3.53% 19.98% -5.00% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% March 31, 2024 Up 200BP Base Down 200BP Net Interest Margin and Interest Rate Sensitivity 12 2.54% 2.40% 2.39% 2.40% 2.30% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50%
Slide 13: Loan Portfolio
13 10% 10% 10% 10% 10% 41% 41% 41% 41% 41% 43% 43% 43% 43% 43% 6% 6% 6% 6% 6% 4.50% 4.73% 4.85% 4.96% 5.00% - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Commercial Commercial Rea
Slide 14: Commercial Diversification
14 11% 16% 16% 15% 26% 16% Other Nonresidential Buildings 1-4 Family Industrial / Warehouse Retail Store Multi-Family / Apartments 51% 12% 6% 5% 3% 3% 3% 3% 14% Real Estate Investment Lodging Retail Trade Health Care / Social Asst. Finance / Insurance Wholesale Trade Construction Manufacturing Other
Slide 15: Securities Portfolio
15 89% 89% 89% 92% 92% 8% 8% 8% 5% 5% 3% 3% 3% 3% 3% 2.19% 2.21% 2.26% 2.48% 2.59% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% - 0,000 0,000 0,000 0,000 0,000 0,000 0,000 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Agency Backed Municipal Corporate Bonds Investment Yield $1.3 $1.3 $1.3 $1.3 $1.2 •
Slide 16: Deposit Composition and Cost
16 22% 21% 22% 21% 21% 35% 35% 34% 34% 33% 30% 29% 29% 30% 30% 8% 10% 12% 13% 13% 5% 5% 3% 2% 3% 1.22% 1.48% 1.67% 1.87% 1.97% - 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 00% 50% 00% 50% 00% 50% Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Noninterest Checking Interest Checking Savings/Money Market CD
Slide 17: Diversified Fee Income
17 Diversified Fee Income 17 30% 30% 30% 32% 28% 18% 19% 20% 19% 20% 27% 29% 27% 26% 29% 7% 6% 6% 9% 8% 18% 16% 17% 14% 15% 22% 24% 24% 25% 25% - 2,000 4,000 6,000 8,000 10,000 12,000 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Debit Card Income Service Charges on Deposi
Slide 18: Driving Efficiency and Scale
18 $26.2 $27.1 $26.2 $27.8 $27.4 1.84% 1.90% 1.83% 1.95% 1.91% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Operating Expense Overhead Expense Ratio (CAC) Driving Efficiency and Scale 18 ($ in millions) Efficiency Ratio 59% 63% 61% 63% 66% Efficiency ratio is a non-GAAP mea
Slide 19: Capital and Credit
19 Capital and Credit 19 TCE ratio(1) and CET1 ratio Criticized and classified loans / Total loans Net charge-offs to average loans(2) 7.3x 7.1x 5.5x 5.0x 4.7x • Credit quality continues to be in pristine condition with criticized and classified loans at 1.13% of total loans and NCOs to average loan