Camden National Q4 2020 Earnings Report
Key Takeaways
Camden National Corporation reported a strong fourth quarter and year-end 2020, with a record net income of $59.5 million for the year and $18.3 million for the fourth quarter. Diluted earnings per share increased by 23% compared to the fourth quarter of 2019. The company's asset quality remained excellent, with non-performing assets at 0.22% of total assets.
Net income and diluted EPS for Q4 2020 increased by 20% and 23% respectively, compared to Q4 2019.
Pre-tax, pre-provision earnings (non-GAAP) for Q4 2020 increased by 19% over Q4 2019.
Return on average assets for Q4 2020 was 1.45%, return on average equity was 13.94%, and return on average tangible equity (non-GAAP) was 17.27%.
Net interest margin for Q4 2020 was 3.06%, compared to 3.12% for Q4 2019.