Camden National Q3 2022 Earnings Report
Key Takeaways
Camden National Corporation reported a net income of $14.3 million for Q3 2022, a 5% decrease compared to the previous quarter. This decrease was primarily due to higher provision for credit losses and less SBA PPP loan income, although net interest margin expanded by 4 basis points quarter-over-quarter.
Net income decreased by 5% compared to the second quarter of 2022.
Net interest margin increased 4 basis points to 2.88% compared to the second quarter of 2022.
Loans grew by $136.5 million, or 4%, during the third quarter of 2022.
The allowance for credit losses on loans increased to 0.95% of total loans.
Camden National
Camden National
Forward Guidance
Camden National will host a conference call and webcast at 3:00 p.m., Eastern Time, on Tuesday, October 25, 2022 to discuss its third quarter 2022 financial results and outlook.