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Camden National (CAC) Company Profile

Updated Jul 3, 2019
Camden National has the following business profile:
Company's Full Name:Camden National Corporation
Short Name:Camden National
Trading Ticker Symbol:CAC
Primary Exchange:NASDAQ
Headquarter City/Country:Maine, ME
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks, Bank
Dividend Payments:Dividend History

Market and Trading Information for Camden National

The following details were available for trading and market data about the stock of Camden National as of writing:
Current Share Price:$44.71
Previous Year's Closing Price:$35.97
Percentage Price Change (YTD):24.3%
Market Cap:$696.46 million
52-week Price Range:$33.49 - $47.34
Dividend Per Share:$1.15
EPS (TTM):3.48
Price-Earnings (Trailing):12.85
Price-Earnings (Forward):11.7

Company Profile and Business Description for Camden National

Camden National Corporation, incorporated on March 21, 1984, is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers. The Company, through the Bank, offers commercial and consumer banking products and services, and through Camden Financial Consultants and Camden National Wealth Management, divisions of the Bank, brokerage and insurance services, as well as investment management and fiduciary services. The Company had 61 banking centers, 84 automated teller machines (ATMs) and three lending offices as of December 31, 2016. The Company operates and manages the Bank's business within Maine's various regions, including Mid Coast, Southern, Central, Bangor and Downeast.

The Bank is a national banking association. The Bank offers its products and services across Maine, and focuses primarily on attracting deposits from the general public through its branches, and then leveraging this relationship to originate residential mortgage loans, commercial business loans, commercial real estate loans and a range of consumer loans across New England. The Company had locations within 13 of Maine's 16 counties as of December 31, 2016. Customers may also access the Bank's products and services using other channels, including online at www.CamdenNational.com. Camden Financial Consultants is a brokerage and insurance division of the Bank. Camden Financial Consultants' financial offerings include college, retirement, and estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. Healthcare Professional Funding Corporation (HPFC) is a subsidiary of the Bank.

Lending Activities

The Bank's lending activities are primarily conducted in Maine, and its footprint continues to expand into other northern New England states, including New Hampshire, and Massachusetts. The Company originates single family and multi-family residential loans, commercial real estate loans, business loans, municipal loans and a range of consumer loans. In addition, the Company makes loans for the construction of residential homes, multi-family properties and commercial real estate properties. The Bank's total loans amounted to $2.59 billion as of December 31, 2016.

Investment Activities

The Company purchases and holds investment securities, including municipal bonds, mortgage-backed securities (pass through securities and collateralized mortgage obligations), subordinated corporate bonds, and Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock to diversify its revenues, interest rate and credit risk, and to provide for liquidity and funding needs. The Bank's securities portfolio includes available for sale securities, such as obligations of the United States government sponsored enterprises, obligations of states and political subdivisions, mortgage-backed securities issued or guaranteed by the United States government-sponsored enterprises, collateralized mortgage obligations issued or guaranteed by the United States government-sponsored enterprises, private issue collateralized mortgage obligations and subordinated corporate bonds, and held to maturity securities, such as obligations of states and political subdivisions. The Bank's total holdings in investment securities were $0.89 billion as of December 31, 2016.

Source of Funds

The Company, through the Bank, receives checking, savings and time deposits primarily from customers located within its geographic market area. The Other forms of deposits include brokered deposits and Certificate of Deposit Account Registry System (CDARS). The Bank's total deposits amounted to $2.8 billion as of December 31, 2016.

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Peer / Competitor Companies of Major Banks Sector

Along with Camden National Corporation, the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

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▶ Ames National (ATLO): Ames National Corporation, incorporated on January 15, 1975, is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks ....See Detailed Company Profile  and Dividend History.

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