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Mar 31, 2023
Camden National Q1 2023 Earnings Report
Camden National's financial performance decreased due to interest rate volatility, seasonal deposit outflows, deposit competition, and a loss on an investment security.
Key Takeaways
Camden National Corporation reported a net income of $12.7 million and diluted earnings per share of $0.87 for Q1 2023. The results were impacted by interest rate volatility, seasonal deposit outflows, increased deposit competition, and a $1.8 million loss on an investment security. The company's capital, liquidity, and asset quality remained strong.
Uninsured FDIC and uncollateralized deposits were 15% of total deposits.
Available liquidity sources totaled $1.3 billion, representing 28% of total deposits.
Loan-to-deposit ratio was 88%.
Asset quality remained strong, with non-performing assets at 0.09% of total assets.
Forward Guidance
Camden National will host a conference call and webcast at 3:00 p.m., Eastern Time, on Tuesday, April 25, 2023 to discuss its first quarter 2023 financial results and outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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