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Mar 31, 2024
Camden National Q1 2024 Earnings Report
Camden National reported first quarter earnings with strong asset quality, capital, and liquidity.
Key Takeaways
Camden National Corporation reported a net income of $13.3 million and diluted EPS of $0.91 for the first quarter of 2024. The company released $2.1 million in the provision for credit losses, including a $910,000 recovery on the sale of a Signature Bank corporate bond. Adjusted net income was $12.6 million, and adjusted diluted EPS was $0.86, a 1% increase over the previous quarter.
Net income available to common shareholders was $13.3 million, with diluted EPS at $0.91.
Company released $2.1 million in the provision for credit losses.
Adjusted net income (non-GAAP) was $12.6 million, and adjusted diluted EPS (non-GAAP) was $0.86, up 1% from Q4 2023.
Loans totaled $4.1 billion, an increase of 1% since December 31, 2023.
Revenue by Segment
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