secwatch.observer — SEC 8-K summary
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Issuer:     CAMDEN NATIONAL CORP (CAC)
CIK:        0000750686
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000750686-24-000145
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/750686/000075068624000145/0000750686-24-000145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/750686/000075068624000145/cac-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000750686-24-000145

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