Camden National Corporation filed its third-quarter 2026 earnings press release on October 27, 2026, reporting net income of $22.8 million and diluted EPS of $1.34 for the quarter ended September 30, 2026.

Key Highlights

  • Net income: $22.8 million for Q3 2026, up 8% from the same quarter in 2025, with diluted EPS of $1.34, up 7% year-over-year.
  • Nine-month record: Net income of $67.7 million and diluted EPS of $3.98 for the nine months ended September 30, 2026, compared to $42.6 million and $2.51 for the same period in 2025.
  • Net interest margin: Expanded 15 basis points from Q2 2026 to 3.41% in Q3 2026, driven by lower funding costs and deposit growth.
  • Deposit growth: Total deposits grew 5% during Q3 2026 to $5.8 billion; core deposits (non-GAAP) grew 7% to $5.2 billion, representing 88% of total deposits.
  • Asset quality: Non-performing loans and past-due loans represented 0.16% and 0.14% of total loans, respectively, at September 30, 2026; annualized net charge-offs were 0.07% of average loans.
  • Capital ratios: Common Equity Tier 1 ratio of 12.53%, Tier 1 risk-based ratio of 13.83%, total risk-based ratio of 14.82%, and Tier 1 leverage ratio of 9.92% at September 30, 2026.
  • Dividend declared: $0.42 per share cash dividend, payable October 30, 2026, to shareholders of record on October 15, 2026.

Camden National's Q3 2026 Earnings: Deposit Growth and Margin Expansion

According to the filing, Camden National Corporation (NASDAQ:CAC) reported Q3 2026 net income of $22.8 million and diluted EPS of $1.34, producing a return on average assets of 1.31%, a return on average equity of 12.36%, and a return on average tangible equity (non-GAAP) of 17.47%. Net income and diluted EPS each increased 8% and 7%, respectively, year-over-year, and were each 1% lower than the prior quarter's reported results. Net interest income totaled $55.4 million, an increase of 5% from Q2 2026, with net fair value mark accretion income contributing $4.2 million, or 31 basis points, to third-quarter net interest margin.

The filing disclosed that total assets were $7.1 billion at September 30, 2026, up from $7.0 billion at June 30, 2026. Cash, cash equivalents, and restricted cash increased to $248.6 million from $99.9 million at June 30, 2026. Total loans were $5.0 billion, a decrease of $2.2 million from the prior quarter, with home equity and residential mortgage loans growing 7% and 1%, respectively, while commercial real estate and commercial loans decreased 2% and 3%, respectively, attributed primarily to large loan prepayments. Borrowings fell to $374.4 million from $571.1 million at June 30, 2026, and the loan-to-deposit ratio declined to 86% from 90%.

The company disclosed that provision expense was $1.9 million in Q3 2026, compared to $710,000 in Q2 2026, reflecting macroeconomic factors and higher reserves for unfunded credit commitments. Non-interest income totaled $13.2 million, a decrease of $1.2 million or 8% from the prior quarter, driven by lower mortgage banking and bank-owned life insurance income. Assets under administration in the company's wealth and brokerage businesses increased 1% to $2.6 billion. Non-interest expense totaled $37.5 million, an increase of less than 1% from Q2 2026. The company reported that it did not repurchase any shares during Q3 2026; for the nine months ended September 30, 2026, it repurchased 85,131 shares at a weighted average price of $46.55 per share.

What Was Disclosed

Camden National Corporation disclosed Q3 2026 and nine-month 2026 financial results, including net income, EPS, net interest margin, deposit and loan data, asset quality metrics, capital ratios, share repurchase activity, and a quarterly cash dividend of $0.42 per share.