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Jun 30, 2020
Camden National Q2 2020 Earnings Report
Camden National's financial performance decreased due to higher provision expense in response to the COVID-19 pandemic.
Key Takeaways
Camden National Corporation reported a net income of $10.9 million for Q2 2020, a 17% decrease compared to Q2 2019. Diluted earnings per share were $0.73, a 14% decrease over the same period. The decrease was driven by higher provision expense due to COVID-19.
Net income decreased by 17% compared to the second quarter of 2019 and by 19% compared to the first quarter of 2020
Pre-tax, pre-provision earnings increased 31% over the second quarter of 2019 and 24% over the first quarter of 2020
Originated 10% of the Small Business Administration (SBA) Paycheck Protection Program (PPP) loans to small businesses across Maine
Asset quality remains strong with non-performing assets of 0.23% of total loans
Revenue by Segment
Forward Guidance
Camden National Corporation did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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