Camden National Q4 net income $8.5M, EPS $0.58, down 13% QoQ; capital ratios improve

CAMDEN NATIONAL CORP

2023-FY EPS reported $2.97 revenue$33,567,000

Net income $8.5M ($0.58 diluted EPS) down 13% from Q3; adjusted pre-tax pre-provision income $15.8M, down 6%.
Net interest income $32.7M, up $125k QoQ; NIM 2.40% (+1 bp); pre-tax investment losses $5.0M from $70.4M securities sale.
Loans $4.1B (+1% QoQ); deposits $4.6B (-2%); loan-to-deposit ratio 89%; borrowings $529.9M (+3%).
Capital ratios strengthened: common equity 8.66%, tangible common equity 7.11%; asset quality strong with NPLs 0.18%.
New CEO Simon Griffiths effective Jan 1, 2024; quarterly dividend $0.42/share declared; new share repurchase program for 750k shares.

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 fourth quarter of 2023 results: net income $8.5 million, EPS $0.58.

Period: fourth quarter of 2023
Net income: $8.5 million
EPS: $0.58
Result: reported results

Exact text from the filing

Camden National Corporation (the "Company") issued a press release on January 30, 2024 announcing earnings for the fiscal quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000750686-24-000006

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