Camden National Corporation · NASDAQ:CAC
Camden National — Q1 2021 Earnings Presentation
14 slides from Camden National's earnings presentation, Apr 27, 2021
Slide 1: First Quarter 2021 Earnings Conference Call
First Quarter 2021 Earnings Conference Call April 27, 2021 e Candas NATIONAL CORPORATION
Slide 2: Forward Looking Statements
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, exceptions, goals, projections, and statements, which are
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, Management uses these non-GAAP financial measures for purposes of measuring our performance against our peer group and other financial institutions and analyzing our internal performance. These non-GAAP finan
Slide 4: First Quarter 2021 Highlights
First Quarter 2021 Highlights Net Income * Record quarterly net income, up 8% $19.7 million over last quarter Diluted Earnings Per Share * Released provision of $2.0 million $1.31 * Loan deferrals declined to 0.1% of Return on Assets loans, down from 0.8% last quarter 1.62% ¢ Asset quality remains s
Slide 5: Income Statement
Income Statement Increase/(Decrease) $ thousands 1021 4Q20 120 Highlights A 4 + SBA PPP loans added $1.9mm to 1Q21 interest income, Net interest income $32,364 ($3,097) $538 $1.8mm lower than 4020 s , + Year-over-year increase driven by strong mortgage Non-interest income $15,215 $884 $3,812 banking
Slide 6: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin NII and NIM ($ in millions) $35.5 $31.8 1Q20 4Q20 1421 mm Ni] —@=NIM Estimated Changes in Net Interest Inc Year1 Year 2 +200 bps 2.61% 10.03% -100 bps -0.94% -9.80% (1) Assumes flat balance sheet, no changes in asset/funding mix, and a parallel and pro rat
Slide 7: Loan Portfolio
Loan Portfolio Residential Real Estate * 69% located in Maine and 25% in Massachusetts * 62% are primary residences, 29% second homes and 9% investment property * 98% of balances at </= 80% LTV® (or supplemented with private mortgage insurance) Commercial Real Estate * 68% of real estate located in
Slide 8: Commercial Diversification
Commercial Diversification CRE and Commercial Loans by Industry Real Estate Investment Breakdown (as of 3/31/21) (as of 3/31/21) Other Nonresidential Buildings 8% Other (14 Industries <3%) 20% at a Office Buildings 26% Real Estate Industrial / Investment —) Warehouse Restaurants 41% 10% $ million Ma
Slide 9: SBA PPP Loans
SBA PPP Loans Total Originations Total Total * Total 2021 originations of $85.1 Balance Tier Units Production Outstanding million ($ in millions) | ($ in millions) $0 - $50,000 3,166 $50.7 $29.2 * SBA PPP loan yields of 4.85% and $50,001 - $250,000 965 $102.9 $52.0 7.74% during Q1 ‘21 and Q4 ‘20, $2
Slide 10: Loan Deferral Details
Loan Deferral Details 12/31/2020 3/31/2021 Category Deferred ry % of Category millions) Volume ed me Deferred Real Estate Investment $7.1 k $0.9 0.1% Lodging $6.9 . $0.0 0.0% Other Services (expt. Public Admin) $3.5 4 $0.0 0.0% Other Accommodation $1.4 : $1.4 41% Restaurants $0.4 X $0.0 0.0% Other B
Slide 11: Solid Credit Quality
Solid Credit Quality NPAs / Total Assets 12/31/2009 1.07% 0.50% a 34% 0.25% 9.22% 0.20% 2017 ‘018 2019 2020 1021 NCOs / Average Loans 12/31/2009 ALL / NPLs 361.65% 352.15% 225.77% 17.17% 18.92% 12/31/2009 109.31% 2017 2018 2019 2020 1021 ALL / Total Loans ny agente 21/2008 0.37% =——————EE====_—==e 7
Slide 12: Securities Portfolio
Securities Portfolio * Book value was $1.1 billion, up $21 million, or 2%, linked- Securities Portfolio Mix (Book Value at 3/31/21) quarter USS. Agencies and Other «Average yield (FTE) of 1.87%, down 18 bps linked- oe quarter Municina} * — Unrealized net gain of $15.0 million on AFS compared to $37.
Slide 13: Strong Liquidity Position
Strong Liquidity Position Lines of Credit Exposure Well Positioned to Support Liquidity Needs $1,292.4 Liquidity Sources ¢ Amount — $1,201.3 $1,178.0 (in millions) Excess Cash $309.6 Unpledged Investment Securities $482.6 = 48% 48% Unpledged Municipal Securities $100.1 Over Collateralized Securities
Slide 14: Strong Capital Position
Strong Capital Position Tier 1 Leverage Ratio 9.07% 9.53% 9.55% 9.61% 9.13% Required Minimum(t), 4.00% 2017 2018 2019 2020 1021 in millions) Tier 1 Leverage Total Risk Based Capital Ratio 16.00% 14.14% 14.36% 14.44% 1540% Required Minimum(t), 10.50% 2017 2018 2019 2020 1021 Required Minimum Ratios a