Camden National Corporation reported net income of $22.8 million and diluted earnings per share (EPS) of $1.34 for the fiscal quarter ended September 30, 2026. This represents an 8% increase in net income and a 7% increase in EPS compared to the same period in 2025. The company reported a return on average assets of 1.31% and a return on average equity of 12.36% for the quarter.
For the nine months ended September 30, 2026, the company reported record net income of $67.7 million and diluted EPS of $3.98, compared to $42.6 million and $2.51, respectively, for the same period in 2025. On a non-GAAP basis, adjusted net income for the nine-month period increased 31% year-over-year.
During the third quarter, net interest margin expanded 15 basis points to 3.41%, driven by lower funding costs. Average deposits grew 3%, supporting a 26% reduction in average borrowings. Total deposits were $5.8 billion at September 30, 2026, an increase of 5% from the prior quarter. Asset quality remained strong, with non-performing loans and past-due loans representing 0.16% and 0.14% of total loans, respectively.
At September 30, 2026, total assets were $7.1 billion, and total loans were $5.0 billion. The company maintained capital ratios well in excess of regulatory requirements, including a Common Equity Tier 1 ratio of 12.53% and a total risk-based ratio of 14.82%. Book value per share was $42.65 as of September 30, 2026, an increase of 7% compared to the prior year.
Camden National announced a cash dividend of $0.42 per share, payable on October 30, 2026, to shareholders of record on October 15, 2026. The company repurchased 85,131 shares during the first nine months of 2026 at a weighted average price of $46.55 per share.
