Camden National Corporation (CAC)

Camden National Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	211.9	195.38	144.71	125.44	134	143.4
Interest Income on Investments	33.96	30.87	28.08	23.05	23.2	25.12
Total Interest Income	245.86	226.25	172.79	148.48	157.2	168.52
Interest Paid on Deposits	95.24	78.88	20.31	7.92	15.54	34
Interest Paid on Borrowings	20.87	15.1	4.79	3.13	5.35	6.89
Total Interest Expense	116.11	93.98	25.09	11.05	20.89	40.89
Net Interest Income	129.75	132.26	147.69	137.44	136.31	127.63
Net Interest Income Growth (YoY)	-4.97%	-10.45%	7.46%	0.83%	6.80%	6.01%
Trust Income	7.09	6.67	6.41	6.52	6.12	5.9
Mortgage Banking Activities	3.33	2.92	4.22	13.71	18.51	7.84
Gain (Loss) on Sale of Investments	-4.98	-10.31	-0.91	-	-	0.82
Other Non-Interest Income	24.51	23.92	23.4	22.89	19.19	19.16
Total Non-Interest Income	38.36	31.03	40.7	49.74	50.52	42.11
Non-Interest Income Growth (YoY)	10.13%	-23.75%	-18.16%	-1.54%	19.95%	10.33%
Revenues Before Loan Losses	168.11	163.3	188.4	187.17	186.82	169.74
Provision for Loan Losses	-0.64	2.1	4.5	-3.19	12.42	2.86
Revenue	168.76	161.2	183.9	190.36	174.4	166.88
Revenue Growth (YoY)	-0.36%	-12.34%	-3.40%	9.15%	4.51%	5.81%
Salaries and Employee Benefits	60.71	57.22	59.47	58.63	56.15	52.6
Occupancy Expenses	6.35	6.14	6.09	6.06	5.92	5.57
Federal Deposit Insurance	3.29	3.41	2.34	2.07	1.45	1.26
Amortization of Goodwill & Intangibles	0.57	0.59	0.63	0.66	0.68	0.71
Selling, General & Administrative	22.62	22.22	21.16	19.79	19.04	17.95
Other Non-Interest Expense	16.93	17.73	17.14	16.62	15.16	16.73
Total Non-Interest Expense	110.69	107.36	106.85	103.72	98.78	95.3
EBT Excluding Unusual Items	58.07	53.84	77.05	86.64	75.62	71.58
Asset Writedown	-	-	-	-0	-0.03	-0
Legal Settlements	-	-	-	-	-1.2	-
Pretax Income	57.34	53.84	77.05	86.64	74.4	71.58
Income Tax Expense	10.52	10.45	15.61	17.63	14.91	14.38
Net Income	46.82	43.38	61.44	69.01	59.49	57.2
Preferred Dividends & Other Adjustments	0.05	0.05	0.16	0.19	0.15	0.12
Net Income to Common	46.77	43.33	61.28	68.82	59.34	57.08
Net Income Growth	-6.84%	-29.39%	-10.98%	16.02%	3.99%	7.79%
Basic Shares Outstanding	15	15	15	15	15	15
Diluted Shares Outstanding	15	15	15	15	15	15
Shares Change (YoY)	0.14%	-0.62%	-1.81%	-0.35%	-2.78%	-1.11%
EPS (Basic)	3.22	2.98	4.18	4.62	3.96	3.70
EPS (Diluted)	3.20	2.97	4.17	4.60	3.95	3.69
EPS Growth	-6.98%	-28.78%	-9.35%	16.46%	7.05%	8.85%
Dividend Per Share	1.680	1.680	1.620	1.480	1.320	1.230
Dividend Growth	0%	3.70%	9.46%	12.12%	7.32%	6.96%
Effective Tax Rate	18.35%	19.42%	20.26%	20.34%	20.04%	20.08%

Source: S&P Capital IQ. Banks template. Financial Sources.