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Sep 30, 2024
Camden National Q3 2024 Earnings Report
Camden National's Q3 earnings were reported with net income of $13.1 million and diluted EPS of $0.90, driven by net interest margin expansion and robust asset quality.
Key Takeaways
Camden National Corporation reported a strong third quarter with a net income of $13.1 million and diluted EPS of $0.90, which is an increase of 9% and 11%, respectively, over the second quarter of 2024. The results were driven by net interest margin expansion and robust asset quality. The company also announced a pending merger with Northway Financial, Inc.
Net income for Q3 2024 was $13.1 million, an increase of 9% compared to Q2 2024.
Diluted EPS for Q3 2024 was $0.90, an increase of 11% compared to Q2 2024.
Net interest margin for Q3 2024 was 2.46%, an increase of 10 basis points over Q2 2024.
Asset quality remained strong, with non-performing loans improving by 6 basis points to 0.17% of total loans.
Forward Guidance
Camden National Corporation will host a conference call and webcast at 3:00 p.m., Eastern Time, on Tuesday, October 29, 2024 to discuss its third quarter 2024 financial results and outlook.
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