Camden National Q1 net income $12.7M, EPS $0.87, down 17% from Q4; writes off $1.8M Signature Bank bond

CAMDEN NATIONAL CORP

2023-Q1 EPS reported $0.87 revenue$7,815,000

Net income $12.7M, diluted EPS $0.87, down 17% from Q4 2022; revenue (net interest income) $34.3M, down 7%.
Net interest margin fell 22 bps to 2.54% as funding costs rose 49 bps to 1.45%.
Wrote off $1.8M Signature Bank bond; nonperforming assets remained low at 0.09% of total assets.
Total deposits decreased 4% to $4.6B; available liquidity $1.3B (28% of deposits).
Declared $0.42/share dividend, payable Apr 28, 2023, yield 4.64% based on $36.19 close.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CAMDEN NATIONAL CORP reported the fiscal quarter ended March 31, 2023 results: net income $12.7 million, EPS $0.87 per diluted share.

Period: the fiscal quarter ended March 31, 2023
Net income: $12.7 million
EPS: $0.87 per diluted share
Result: reported results

Exact text from the filing

Camden National Corporation (NASDAQ: CAC; “Camden National” or the “Company”), a $5.7 billion bank holding company headquartered in Camden, Maine, reported net income of $12.7 million and diluted earnings per share of ("EPS") of $0.87 for the first quarter of 2023

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Source: SEC EDGAR

accession 0000750686-23-000143

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