Company Reports Nearly $22 Million Net Income for Q1
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 28 2026
0mins
Reports Q1 core net interest margin on a FTE basis 2.92% vs. 2.92% last quarter. Tangible book value per share was $30.58 at March 31, up 18% vs. March 31, 2025. Reports Q1 common Equity Tier 1 ratio of 12.01%, a Tier 1 risk-based ratio of 13.32%, a total risk-based ratio of 14.27%, and a Tier 1 leverage ratio of 9.43%. "Our reported net income of nearly $22 million for the first quarter reflects the benefits of the acquisition we completed last year, including our ability to efficiently scale the combined organization and accelerate our strategy to grow and strengthen our franchise," said CEO Simon Griffiths. "We delivered solid performance in the first quarter through strong asset quality, expense management and deposit growth. Looking ahead, we remain focused on sustained growth and disciplined execution as we continue to meet our customers' evolving needs through advice-based conversations."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy CAC?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on CAC
Wall Street analysts forecast CAC stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 51.290
Low
47.00
Averages
50.00
High
53.00
Current: 51.290
Low
47.00
Averages
50.00
High
53.00
About CAC
Camden National Corporation is a bank holding company for Camden National Bank (the Bank). The business of the Company is to attract deposits from and to extend loans to consumer, institutional, municipal, non-profit and commercial customers. The Company, through the Bank, provides a range of banking and other financial services, including wealth management and trust services, brokerage, investment advisory and insurance services to consumers, business, non-profit and municipal customers. The Bank’s digital offerings provide customers with access to banking services and include digital banking for self-service transactions; MortgageTouch, an easy-to-use online platform for consumer borrowers; BusinessTouch, an online loan application system for small business customers, making borrowing faster and easier for small businesses, and TreasuryLink, a secure online platform providing cash management services, monitoring capabilities, and control features for commercial customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Camden National Bank Expands Leadership to Enhance Service Capabilities
- Executive Appointments: Camden National Bank announces the hiring of Jennifer Demers as Vice President of Commercial Banking and Keith Pike as Senior Vice President, enhancing its service capabilities in commercial, treasury management, and public sector across Northern New England.
- Industry Expertise: Demers brings extensive experience in commercial lending and relationship management, having previously served as a Business Development Manager at JPMorgan Chase, where she expanded the bank's presence in Maine, demonstrating her deep understanding of local markets.
- Government Banking Leadership: Pike has over 20 years of experience managing government and commercial banking relationships, previously leading a $6.8 billion municipal portfolio at TD Bank, which will enable Camden National to provide cash management and liquidity solutions to support client success.
- Ongoing Talent Investment: The appointments reflect Camden National Bank's commitment to investing in experienced talent and specialized capabilities, aimed at helping clients and communities succeed across Northern New England, thereby reinforcing its market leadership position.
See More
Camden National Bank Awards Nonprofit Grants
- Award Launch: Camden National Bank has initiated the 2026 Leaders & Luminaries Awards to recognize nonprofit board members in Maine and New Hampshire, highlighting the importance of community contributions.
- Funding Amount: Each of the five honorees will receive a $5,000 grant, totaling $25,000, aimed at supporting the operations and growth of nonprofit organizations to enhance their community impact.
- Nomination Period: Nominations are open until August 31, 2026, encouraging public participation to further promote leadership and governance within nonprofit organizations.
- Historical Achievements: Since 2011, the program has recognized 75 nonprofit board members and awarded a total of $293,000 in grants, demonstrating Camden National Bank's ongoing support and commitment to nonprofit organizations.
See More
Investment Opportunities and Risks in Small-Cap Stocks
- Small-Cap Investment Potential: Small-cap stocks often present overlooked investment opportunities by Wall Street, although their high-risk, high-reward nature necessitates careful evaluation of potential gains and losses by investors.
- Mercury General Caution: Mercury General (MCY), with a market cap of $5.57 billion, is projected to have only 1.3% sales growth over the next 12 months, indicating a slowdown in demand, while its 4.2% annual book value per share growth lags behind industry standards, suggesting management struggles to find compelling investment opportunities.
- Camden National Bank Risks: Camden National Bank (CAC), valued at $817.1 million, has shown muted 8.6% annual net interest income growth over the past five years, indicating demand lagging behind peers, and its 1.2% annual earnings per share growth reflects insufficient profitability from incremental sales.
- Nicolet Bankshares Investment Recommendation: Nicolet Bankshares (NIC), with a market cap of $2.99 billion, boasts an impressive 21.9% annual net interest income growth over the past five years and a 10.2% growth in tangible book value per share, indicating strengthened capital, with its current share price of $140.81 reflecting a forward P/B ratio of 1.2, making it a stock worth considering.
See More
Camden National Reports Strong Q1 2026 Earnings with $21.9M Net Income
- Strong Financial Performance: Camden National reported a net income of $21.9 million and earnings per share of $1.29 for Q1 2026, reflecting a 39% year-over-year increase, demonstrating the company's ability to generate sustained value post-Northway Financial acquisition.
- Capital Return Strategy: The tangible common equity ratio increased to 7.64% at quarter-end, and the company returned $8.6 million to shareholders through a recently announced share repurchase program and regular cash dividends, highlighting its commitment to shareholder value.
- Robust Deposit Base: As of March 31, total deposits reached $5.6 billion, marking a 1% increase from the prior quarter, showcasing the company's successful strategy in building long-term customer relationships rather than merely pursuing rate-driven volume.
- Optimistic Future Outlook: Management anticipates a core net interest margin expansion of 2 to 5 basis points in Q2, with noninterest income expected to rebound to approximately $13 million, reflecting confidence in future growth despite macroeconomic pressures and intensified competition.
See More
Camden National Q1 Earnings Beat Expectations
- Earnings Beat: Camden National reported a Q1 non-GAAP EPS of $1.29, exceeding expectations by $0.04, indicating strong profitability and enhanced market confidence.
- Revenue Miss: Despite a 7.1% year-over-year revenue increase to $64.34 million, it fell short of expectations by $1.16 million, reflecting intensified market competition and economic uncertainties impacting growth.
- Efficiency Ratio Insights: The GAAP efficiency ratio for Q1 stood at 55.50%, while the non-GAAP ratio was 53.21%, compared to 54.16% and 51.69% in the previous quarter, demonstrating ongoing efforts in cost management but highlighting the need for further optimization.
- Book Value Growth: As of March 31, 2026, the book value per share was $41.98, with a non-GAAP tangible book value of $30.58, representing increases of 11% and 18% respectively from March 31, 2025, indicating improved asset quality and enhanced shareholder value.
See More
Camden National Reports Decline in Q1 Earnings
- Earnings Decline: Camden National Corp. reported a net income of $21.88 million for Q1, translating to an EPS of $1.29, which is a decrease from last year's $22.56 million and $1.33 per share, indicating a weakening in the company's profitability.
- Revenue Drop: The company's revenue fell by 4.5% to $78.37 million compared to $82.04 million last year, reflecting challenges in the market environment and a decline in customer demand.
- Adjusted Earnings: Excluding items, Camden National's adjusted earnings remained at $21.88 million, suggesting that even after adjustments, the company's earnings situation has not improved, potentially affecting future investor confidence.
- Market Reaction: The dual decline in earnings and revenue has led to a cautious market outlook for Camden National, which may pressure the stock price and impact the company's position in the highly competitive financial services sector.
See More
Camden National Bank Expands Leadership to Enhance Service Capabilities
- Executive Appointments: Camden National Bank announces the hiring of Jennifer Demers as Vice President of Commercial Banking and Keith Pike as Senior Vice President, enhancing its service capabilities in commercial, treasury management, and public sector across Northern New England.
- Industry Expertise: Demers brings extensive experience in commercial lending and relationship management, having previously served as a Business Development Manager at JPMorgan Chase, where she expanded the bank's presence in Maine, demonstrating her deep understanding of local markets.
- Government Banking Leadership: Pike has over 20 years of experience managing government and commercial banking relationships, previously leading a $6.8 billion municipal portfolio at TD Bank, which will enable Camden National to provide cash management and liquidity solutions to support client success.
- Ongoing Talent Investment: The appointments reflect Camden National Bank's commitment to investing in experienced talent and specialized capabilities, aimed at helping clients and communities succeed across Northern New England, thereby reinforcing its market leadership position.
See More
Camden National Bank Awards Nonprofit Grants
- Award Launch: Camden National Bank has initiated the 2026 Leaders & Luminaries Awards to recognize nonprofit board members in Maine and New Hampshire, highlighting the importance of community contributions.
- Funding Amount: Each of the five honorees will receive a $5,000 grant, totaling $25,000, aimed at supporting the operations and growth of nonprofit organizations to enhance their community impact.
- Nomination Period: Nominations are open until August 31, 2026, encouraging public participation to further promote leadership and governance within nonprofit organizations.
- Historical Achievements: Since 2011, the program has recognized 75 nonprofit board members and awarded a total of $293,000 in grants, demonstrating Camden National Bank's ongoing support and commitment to nonprofit organizations.
See More
Investment Opportunities and Risks in Small-Cap Stocks
- Small-Cap Investment Potential: Small-cap stocks often present overlooked investment opportunities by Wall Street, although their high-risk, high-reward nature necessitates careful evaluation of potential gains and losses by investors.
- Mercury General Caution: Mercury General (MCY), with a market cap of $5.57 billion, is projected to have only 1.3% sales growth over the next 12 months, indicating a slowdown in demand, while its 4.2% annual book value per share growth lags behind industry standards, suggesting management struggles to find compelling investment opportunities.
- Camden National Bank Risks: Camden National Bank (CAC), valued at $817.1 million, has shown muted 8.6% annual net interest income growth over the past five years, indicating demand lagging behind peers, and its 1.2% annual earnings per share growth reflects insufficient profitability from incremental sales.
- Nicolet Bankshares Investment Recommendation: Nicolet Bankshares (NIC), with a market cap of $2.99 billion, boasts an impressive 21.9% annual net interest income growth over the past five years and a 10.2% growth in tangible book value per share, indicating strengthened capital, with its current share price of $140.81 reflecting a forward P/B ratio of 1.2, making it a stock worth considering.
See More
Camden National Reports Strong Q1 2026 Earnings with $21.9M Net Income
- Strong Financial Performance: Camden National reported a net income of $21.9 million and earnings per share of $1.29 for Q1 2026, reflecting a 39% year-over-year increase, demonstrating the company's ability to generate sustained value post-Northway Financial acquisition.
- Capital Return Strategy: The tangible common equity ratio increased to 7.64% at quarter-end, and the company returned $8.6 million to shareholders through a recently announced share repurchase program and regular cash dividends, highlighting its commitment to shareholder value.
- Robust Deposit Base: As of March 31, total deposits reached $5.6 billion, marking a 1% increase from the prior quarter, showcasing the company's successful strategy in building long-term customer relationships rather than merely pursuing rate-driven volume.
- Optimistic Future Outlook: Management anticipates a core net interest margin expansion of 2 to 5 basis points in Q2, with noninterest income expected to rebound to approximately $13 million, reflecting confidence in future growth despite macroeconomic pressures and intensified competition.
See More
Camden National Q1 Earnings Beat Expectations
- Earnings Beat: Camden National reported a Q1 non-GAAP EPS of $1.29, exceeding expectations by $0.04, indicating strong profitability and enhanced market confidence.
- Revenue Miss: Despite a 7.1% year-over-year revenue increase to $64.34 million, it fell short of expectations by $1.16 million, reflecting intensified market competition and economic uncertainties impacting growth.
- Efficiency Ratio Insights: The GAAP efficiency ratio for Q1 stood at 55.50%, while the non-GAAP ratio was 53.21%, compared to 54.16% and 51.69% in the previous quarter, demonstrating ongoing efforts in cost management but highlighting the need for further optimization.
- Book Value Growth: As of March 31, 2026, the book value per share was $41.98, with a non-GAAP tangible book value of $30.58, representing increases of 11% and 18% respectively from March 31, 2025, indicating improved asset quality and enhanced shareholder value.
See More
Camden National Reports Decline in Q1 Earnings
- Earnings Decline: Camden National Corp. reported a net income of $21.88 million for Q1, translating to an EPS of $1.29, which is a decrease from last year's $22.56 million and $1.33 per share, indicating a weakening in the company's profitability.
- Revenue Drop: The company's revenue fell by 4.5% to $78.37 million compared to $82.04 million last year, reflecting challenges in the market environment and a decline in customer demand.
- Adjusted Earnings: Excluding items, Camden National's adjusted earnings remained at $21.88 million, suggesting that even after adjustments, the company's earnings situation has not improved, potentially affecting future investor confidence.
- Market Reaction: The dual decline in earnings and revenue has led to a cautious market outlook for Camden National, which may pressure the stock price and impact the company's position in the highly competitive financial services sector.
See More
