Camden Drops on Quarterly Earnings

Camden National Corporation (NASDAQ: CAC) shares lost ground at first Tuesday, after the company reported earnings for the quarter ended June 30, 2025, of $14.1 million and diluted earnings per share of $0.83, increases of 92% and 93%, respectively, from the first quarter of 2025.Net interest margin for the second quarter of 2025 increased two basis points to 3.06%, compared to the first quarter of 2025. On a non-GAAP basis, our core net interest margin was 2.70% for the second quarter of 2025, compared to 2.68% for the first quarter of 2025.The GAAP efficiency ratio for the second quarter of 2025 decreased to 60.37% and, on a non-GAAP basis, decreased to 55.47%, down from 74.02% and 58.72%, respectively, for the first quarter of 2025."We're pleased to report strong results in our first full quarter as a unified organization following the Northway Financial acquisition," said CEO Simon Griffiths. "During the quarter, we began to unlock the financial potential of the combined franchise, with pre-tax, pre-provision income—excluding one-time merger-related expenses—increasing 13% over the prior quarter. This performance reflects achievement of cost synergies and solid revenue growth, reinforcing the strategic value of the acquisition and positioning us for continued net interest margin expansion and earnings growth in the second half of 2025."CAC shares declined 74 cents, or 1.8%, to $40.72.