Camden National Q2 2024 net income $12M ($0.81 EPS); NIM expands to 2.36%

CAMDEN NATIONAL CORP

2024-Q2 EPS reported $1.72 revenue$17,237,000

Net income $12.0M ($0.81 diluted EPS) vs $13.3M ($0.91) in Q1; pre-tax pre-provision income up 9% to $15.5M.
Net interest margin expanded 6 bps to 2.36%; earning-asset yield up 14 bps to 4.58%.
Asset quality remains strong: non-performing loans 0.23% of total loans; net charge-offs 0.04% annualized.
Declared $0.42/share dividend (5.09% yield) payable July 31; repurchased 50k shares at avg $32.19 in H1.
Prepaid $55M of BTFP funding; remaining $170M at 4.76% maturing Jan 2025.

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