Camden National Corporation (CAC) 10-Year Financial Performance & Capital Metrics

CAC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutCamden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system. It also offers non-owner-occupied commercial estate loans, owner-occupied commercial real estate loans, unsecured fully-guaranteed commercial loans backed by the U.S. small business administration, loans secured by one-to four-family properties, and consumer and home equity loans. In addition, the company provides brokerage and insurance services through its financial offerings consisting of college, retirement, estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. Further, it offers a range of fiduciary and asset management, wealth management, investment management, financial planning, and trustee services. As of December 31, 2021, the company had 57 branches within Maine; one residential mortgage lending office in Braintree, Massachusetts; two locations in New Hampshire, including a branch in Portsmouth and a commercial loan production office in Manchester; and an online residential mortgage and small commercial digital loan platform, as well as 66 ATMs. Camden National Corporation was founded in 1875 and is headquartered in Camden, Maine.Show more

Net Interest Income $132M +0.1%
Total Revenue $290M +15.7%
Net Income $53M +22.2%
Return on Equity 10.33% +12.7%
Net Interest Margin 2.28% -1.4%
Efficiency Ratio 36.81% -9.9%
ROA 0.92% +20.8%
Equity / Assets 9.15% +5.6%
Book Value per Share 36.30 +7.1%
Tangible BV/Share 29.80 +9.0%
Debt/Equity 1.03 -4.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 36.8% efficiency ratio
✓Healthy dividend yield of 3.7%
✓Trading near 52-week high
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.07%

5Y6.95%

3Y14.32%

TTM-

Profit (Net Income) CAGR

10Y7.99%

5Y-1.51%

3Y-8.42%

TTM22.32%

EPS CAGR

10Y5.15%

5Y-0.38%

3Y-7.68%

TTM9.69%

ROCE

10Y Avg12.35%

5Y Avg12.56%

3Y Avg11.82%

Latest10.81%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	86.45M	113.07M	115.3M	120.39M	127.63M	136.31M	137.44M	147.69M	132.26M	132.45M
NII Growth %	0.13%	0.31%	0.02%	0.04%	0.06%	0.07%	0.01%	0.07%	-0.1%	0%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	99.14M	129.63M	136.1M	151.38M	168.52M	157.2M	148.48M	172.79M	226.25M	249.56M
Interest Expense	12.69M	16.55M	20.8M	30.98M	40.89M	20.89M	11.05M	25.09M	93.98M	117.1M
Loan Loss Provision	1.94M	5.26M	3.04M	847K	2.86M	12.42M	-3.19M	4.5M	262K	506K
Non-Interest Income+	25.55M	35.84M	35.84M	35M	38.5M	46.74M	45.42M	36.1M	24.07M	40.16M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	124.69M	165.46M	171.95M	186.37M	207.02M	203.94M	193.91M	208.89M	250.32M	289.72M
Revenue Growth %	0.12%	0.33%	0.04%	0.08%	0.11%	-0.01%	-0.05%	0.08%	0.2%	0.16%
Non-Interest Expense	79.2M	86.11M	85.75M	88.77M	91.69M	96.23M	99.41M	102.25M	102.23M	106.65M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	30.86M	57.54M	62.35M	65.78M	71.58M	74.4M	86.64M	77.05M	53.84M	65.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.14%	0.86%	0.08%	0.05%	0.09%	0.04%	0.16%	-0.11%	-0.3%	0.22%
Pretax Income+	30.86M	57.54M	62.35M	65.78M	71.58M	74.4M	86.64M	77.05M	53.84M	65.46M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	9.91M	17.47M	33.88M	12.71M	14.38M	14.91M	17.63M	15.61M	10.45M	12.46M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	20.95M	40.07M	28.48M	53.07M	57.2M	59.49M	69.01M	61.44M	43.38M	53M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.15%	0.91%	-0.29%	0.86%	0.08%	0.04%	0.16%	-0.11%	-0.29%	0.22%
Net Income (Continuing)	20.95M	40.07M	28.48M	53.07M	57.2M	59.49M	69.01M	61.44M	43.38M	53M
EPS (Diluted)+	1.73	2.57	1.82	3.40	3.69	3.95	4.60	4.17	2.97	3.62
EPS Growth %	-0.21%	0.49%	-0.29%	0.87%	0.09%	0.07%	0.16%	-0.09%	-0.29%	0.22%
EPS (Basic)	1.73	2.59	1.83	3.41	3.70	3.96	4.62	4.18	2.98	3.63
Diluted Shares Outstanding	12.07M	15.5M	15.59M	15.63M	15.45M	15.02M	14.97M	14.7M	14.61M	14.63M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	79.49M	87.71M	102.97M	67M	75.64M	145.77M	220.63M	75.43M	99.8M	214.96M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.31B	3.46B	3.65B	3.92B	4B	4.34B	4.91B	5.22B	5.24B	5.2B
Investments Growth %	0.31%	0.04%	0.05%	0.07%	0.02%	0.08%	0.13%	0.06%	0%	-0.01%
Long-Term Investments	2.56B	2.68B	2.86B	3.01B	3.08B	3.22B	3.41B	4.53B	4.62B	4.63B
Accounts Receivables	1000K	1000K	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	95.66M	94.7M	94.7M	94.7M	94.7M	94.7M	94.7M	94.7M	94.7M	94.7M
Intangible Assets	8.67M	6.76M	4.96M	4.23M	3.52M	2.84M	2.19M	1.56M	971K	415K
PP&E (Net)	45.96M	42.87M	41.89M	42.49M	41.84M	39.88M	37.77M	36.02M	35.05M	37.05M
Other Assets	117.39M	123.51M	147.76M	147.3M	194.2M	262.97M	213.05M	192.84M	199.54M	215.87M
Total Current Assets	837.81M	876.23M	892.87M	977.69M	993.75M	1.26B	1.73B	771.3M	725.61M	787.51M
Total Non-Current Assets	2.87B	2.99B	3.17B	3.32B	3.44B	3.64B	3.77B	4.9B	4.99B	5.02B
Total Assets+	3.71B	3.86B	4.07B	4.3B	4.43B	4.9B	5.5B	5.67B	5.71B	5.81B
Asset Growth %	0.33%	0.04%	0.05%	0.06%	0.03%	0.11%	0.12%	0.03%	0.01%	0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	47.41M	44.48M	50M	55.62M	80.47M	117.42M	94.23M	84.14M	92.14M	0
Total Debt+	572.89M	599.67M	611.5M	341.51M	337.89M	246.77M	255.94M	309.51M	529.94M	544.95M
Net Debt	493.4M	511.97M	508.53M	274.52M	262.25M	101M	35.31M	234.08M	430.13M	329.99M
Long-Term Debt	88.6M	68.75M	68.84M	69.07M	69.08M	84.33M	44.33M	44.33M	44.33M	44.33M
Short-Term Debt	482.84M	530.13M	541.99M	271.05M	268.81M	162.44M	211.61M	265.18M	485.61M	500.62M
Other Liabilities	0	0	0	0	0	0	0	0	0	95.79M
Total Current Liabilities	3.26B	3.4B	3.59B	3.79B	3.89B	4.29B	4.91B	5.18B	5.18B	5.13B
Total Non-Current Liabilities	89.46M	69.55M	69.63M	70.65M	69.08M	84.33M	44.33M	44.33M	44.33M	140.12M
Total Liabilities	3.35B	3.47B	3.66B	3.86B	3.96B	4.37B	4.96B	5.22B	5.22B	5.27B
Total Equity+	363.19M	391.55M	403.41M	435.82M	473.42M	529.31M	541.29M	451.28M	495.06M	531.23M
Equity Growth %	0.48%	0.08%	0.03%	0.08%	0.09%	0.12%	0.02%	-0.17%	0.1%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.11%	0.07%	0.13%	0.13%	0.12%	0.13%	0.12%	0.09%	0.1%
Book Value per Share	30.08	25.25	25.88	27.89	30.64	35.23	36.15	30.70	33.89	36.30
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	153.08M	156.04M	156.9M	158.22M	139.1M	131.07M	123.11M	115.07M	115.6M	116.42M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	222.33M	249.41M	266.72M	302.03M	340.58M	377.5M	424.41M	462.16M	481.01M	509.45M
Accumulated OCI	-12.22M	-13.91M	-20.21M	-24.42M	-6.27M	20.74M	-6.23M	-125.95M	-101.55M	-94.65M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	15.92M	57.42M	58.33M	64.33M	32.87M	18.23M	142.72M	105.18M	67.51M	60.93M
Operating CF Growth %	-0.47%	2.61%	0.02%	0.1%	-0.49%	-0.45%	6.83%	-0.26%	-0.36%	-0.1%
Net Income	20.95M	40.07M	28.48M	53.07M	57.2M	59.49M	69.01M	61.44M	43.38M	53M
Depreciation & Amortization	4.92M	6.33M	5.57M	4.49M	4.6M	4.51M	4.36M	4.12M	3.96M	3.87M
Deferred Taxes	0	0	0	0	0	-1.76M	-637K	1.78M	1.31M	298K
Other Non-Cash Items	-5.52M	-1.48M	10.38M	5.49M	-3.23M	-12.67M	64.31M	39.98M	9.68M	514K
Working Capital Changes	-5.27M	10.5M	12.44M	-404K	-27.59M	-33.12M	3.29M	-4.68M	6.38M	349K
Cash from Investing+	-54.74M	-167.95M	-212.13M	-276.78M	-55.84M	-294.45M	-649.09M	-487.72M	-7.03M	30.33M
Purchase of Investments	-175.53M	-231.16M	-170.5M	-232.21M	-339.29M	-433.42M	-758.85M	-138.17M	-137.13M	-60.39M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	59.92M	0	0	0	0	0	0	0	0	0
Other Investing	-92.38M	-119.69M	-193.76M	-231.31M	-67.89M	-123.94M	-210.02M	-581.04M	-92.41M	-26.76M
Cash from Financing+	57.5M	118.75M	169.06M	176.47M	31.6M	346.36M	581.23M	237.34M	-36.1M	23.9M
Dividends Paid	-9.79M	-12.39M	-14.32M	-17.17M	-18.57M	-19.84M	-21.08M	-23.51M	-24.54M	-24.56M
Share Repurchases	0	-5.65M	0	-27K	-20.8M	-9.69M	-10.09M	-10.24M	-2M	-1.61M
Stock Issued	0	5.65M	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	1000K	1000K
Other Financing	71.97M	78.92M	166.69M	463.78M	73.13M	467.4M	603.38M	217.69M	-229.83M	35.34M
Net Change in Cash+	18.68M	8.22M	15.26M	-35.97M	8.64M	70.14M	74.85M	-145.2M	24.38M	115.16M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	60.81M	79.49M	87.71M	102.97M	67M	75.64M	145.77M	220.63M	75.43M	99.8M
Cash at End	79.49M	87.71M	102.97M	67M	75.64M	145.77M	220.63M	75.43M	99.8M	214.96M
Interest Paid	12.59M	16.66M	20.77M	30.18M	41.37M	21.5M	11.19M	24.55M	92.35M	116.72M
Income Taxes Paid	12.21M	10.65M	16.84M	10.67M	13.54M	15.66M	18.5M	13.24M	11.15M	8.82M
Free Cash Flow+	12.73M	55.75M	55.49M	59.31M	28.6M	15.3M	140.86M	103M	64.89M	55.36M
FCF Growth %	-0.55%	3.38%	-0%	0.07%	-0.52%	-0.46%	8.2%	-0.27%	-0.37%	-0.15%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.89%	10.62%	7.16%	12.65%	12.58%	11.86%	12.89%	12.38%	9.17%	10.33%
Return on Assets (ROA)	0.64%	1.06%	0.72%	1.27%	1.31%	1.28%	1.33%	1.1%	0.76%	0.92%
Net Interest Margin	2.33%	2.93%	2.84%	2.8%	2.88%	2.78%	2.5%	2.6%	2.31%	2.28%
Efficiency Ratio	63.52%	52.04%	49.87%	47.63%	44.29%	47.19%	51.27%	48.95%	40.84%	36.81%
Equity / Assets	9.79%	10.13%	9.92%	10.14%	10.69%	10.81%	9.84%	7.96%	8.66%	9.15%
Book Value / Share	30.08	25.25	25.88	27.89	30.64	35.23	36.15	30.7	33.89	36.3
NII Growth	13.37%	30.79%	1.97%	4.42%	6.01%	6.8%	0.83%	7.46%	-10.45%	0.14%
Dividend Payout	46.7%	30.93%	50.3%	32.35%	32.47%	33.36%	30.55%	38.27%	56.56%	46.33%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Products And Services, Debt Card Income	9.7M	10.42M	13.11M	13.34M	12.61M	12.66M
Products And Services, Debt Card Income Growth	-	7.41%	25.77%	1.79%	-5.45%	0.35%
Products And Services, Deposit Accounts Service Charges	8.39M	6.7M	6.63M	7.59M	7.84M	8.44M
Products And Services, Deposit Accounts Service Charges Growth	-	-20.21%	-1.06%	14.50%	3.32%	7.72%
Products And Services, Fiduciary Services Income	5.9M	6.12M	6.52M	6.41M	6.67M	7.27M
Products And Services, Fiduciary Services Income Growth	-	3.63%	6.56%	-1.67%	4.09%	9.01%
Products And Services, Brokerage and Insurance Commissions	2.63M	2.83M	3.91M	4.15M	4.65M	5.54M
Products And Services, Brokerage and Insurance Commissions Growth	-	7.89%	38.17%	5.98%	12.13%	19.03%
Products And Services, Other Income	1.71M	1.67M	1.79M	1.79M	1.8M	1.78M
Products And Services, Other Income Growth	-	-2.22%	7.30%	-0.06%	0.17%	-0.78%

Frequently Asked Questions

Valuation & Price

Camden National Corporation (CAC) has a price-to-earnings (P/E) ratio of 12.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Camden National Corporation (CAC) grew revenue by 15.7% over the past year. This is strong growth.

Yes, Camden National Corporation (CAC) is profitable, generating $57.3M in net income for fiscal year 2024 (18.3% net margin).

Dividend & Returns

Yes, Camden National Corporation (CAC) pays a dividend with a yield of 3.67%. This makes it attractive for income-focused investors.

Camden National Corporation (CAC) has a return on equity (ROE) of 10.3%. This is reasonable for most industries.

Industry Metrics

Camden National Corporation (CAC) has a net interest margin (NIM) of 2.3%. NIM has been under pressure due to interest rate environment.

Camden National Corporation (CAC) has an efficiency ratio of 36.8%. This is excellent, indicating strong cost control.

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