Business Summary: Camden National Corporation 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 Bank is a national banking association. The Company had 61 banking centers, 84 automated teller machines 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. Healthcare Professional Funding Corporation is a subsidiary of the Bank.
Financial Summary: BRIEF: For the nine months ended 30 September 2019, Camden National Corporation interest income increased 14% to $127M. Net interest income after loan loss provision increased 5% to $92.7M. Net income applicable to common stockholders increased 7% to $41.9M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% increase of less than 1% to 3.13%, Interest and fees on loans increase of 15% to $108M.