secwatch.observer — SEC 8-K summary
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Issuer:     CAMDEN NATIONAL CORP (CAC)
CIK:        0000750686
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0000750686-24-000006
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750686/000075068624000006/0000750686-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750686/000075068624000006/cac-20240130.htm
  HTML page:      https://secwatch.observer/filing/0000750686-24-000006

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