secwatch.observer — SEC 8-K summary
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Issuer:     CAMDEN NATIONAL CORP (CAC)
CIK:        0000750686
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000750686-23-000143
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750686/000075068623000143/0000750686-23-000143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750686/000075068623000143/cac-20230425.htm
  HTML page:      https://secwatch.observer/filing/0000750686-23-000143

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