Camden Nat'l Q2 net income $12.4M, EPS $0.85; NIM down 14bp to 2.40%

CAMDEN NATIONAL CORP

2023-Q2 EPS reported $1.72 revenue$16,221,000

Diluted EPS $0.85 vs $0.87 in Q1; net income down 3% sequentially to $12.4M.
Net interest margin compressed 14bp to 2.40% as funding costs rose 36bp.
Loans and deposits each grew 1% QoQ; NPA ratio remained 0.09% of assets.
Declared $0.42/share dividend (5.42% annualized yield), payable July 31.
Repurchased 65,692 shares at avg $33.36; used $135M from BTFP at 4.70%.

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 1.0

CAMDEN NATIONAL CORP reported second quarter of 2023 results: net income $12.4 million, EPS $0.85.

Period: second quarter of 2023
Net income: $12.4 million
EPS: $0.85
Result: reported results

Exact text from the filing

CAMDEN, Maine, July 25, 2023/PRNewswire/--Camden National Corporation (NASDAQ: CAC; “Camden National” or the “Company ”), a $5.8 billion bank holding company headquartered in Camden, Maine, reported net income of $12.4 million and diluted earnings per share of ("EPS") of $0.85 for the second quarter of 2023, decreases of 3% and 2%, respectively, compared to the first quarter of 2023.

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Source: SEC EDGAR

accession 0000750686-23-000246

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