secwatch.observer — SEC 8-K summary
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Issuer:     CAMDEN NATIONAL CORP (CAC)
CIK:        0000750686
Form:       8-K
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0000750686-23-000282
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Camden National Q3 net income $9.8M (-21% QoQ); adjusted EPS $0.96 (+13%); CEO succession announced
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- GAAP diluted EPS $0.67 on net income of $9.8M; adjusted diluted EPS (non-GAAP) $0.96 on adjusted net income $14.0M.
- Sold $66.7M of securities at $5.3M pre-tax loss to reposition balance sheet; reinvested $30M at 6.06% yield.
- Net interest margin 2.39%, down 1 bp QoQ; non-performing assets 0.11% of total assets.
- CEO Gregory Dufour retiring Dec 31; Simon Griffiths to become CEO Jan 1, 2024 after serving as COO from Nov 20.
- Dividend declared $0.42 per share (payable Oct 31 to holders of record Oct 13); annualized yield 5.95%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750686/000075068623000282/0000750686-23-000282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750686/000075068623000282/cac-20231031.htm
  HTML page:      https://secwatch.observer/filing/0000750686-23-000282

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