Camden National Q1 2024 net income $13.3M ($0.91 EPS); adjusted EPS $0.86 up 1% QoQ

CAMDEN NATIONAL CORP

2024-Q1 EPS reported $0.91 revenue$8,309,000

Net income $13.3M vs Q4 2023 $8.5M (+57%); adjusted net income $12.6M (+1% QoQ).
Asset quality strong: loans 30-89 days past due 0.05% of loans; non-performing assets 0.13% of assets.
Provision for credit losses negative $2.1M, including $910K recovery on Signature Bank bond sale.
Net interest margin fell 10 bps to 2.30%; BTFP borrowings increased to $225M at 4.76% fixed through Jan 2025.
Dividend $0.42/share declared; new share repurchase program of up to 750,000 shares authorized.

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 first quarter ended March 31, 2024 results: net income $13.3 million, EPS $0.91.

Period: first quarter ended March 31, 2024
Net income: $13.3 million
EPS: $0.91
Result: reported results

Exact text from the filing

Camden National Corporation (the “Company”) issued a press release on April 30, 2024 announcing earnings for the fiscal quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000750686-24-000145

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