M&A
confidence high
sentiment positive
materiality 0.90
Camden National to acquire Northway Financial in ~$86.6M all-stock merger
CAMDEN NATIONAL CORP
- 0.83 shares of Camden per Northway share; valued at $31.46/share based on $37.90 Sept 9 close.
- Pro forma combined entity: $7.0B assets, $5.1B loans, $5.5B deposits, $2.0B AUA.
- Expected 19.9% EPS accretion in 2025 and 32.7% in 2026; closing targeted Q1 2025.
- Northway shareholders will own ~14% of combined company; one Northway director to join boards.
- Camden National Bank name retained; stock continues trading on Nasdaq under CAC.