Camden National Corporation has recently released its 10-K report, revealing a comprehensive overview of its operations and financial performance. The company operates as the bank holding company for Camden National Bank, providing various commercial and consumer banking products and services for customers in Maine, New Hampshire, and Massachusetts. Additionally, it offers brokerage and insurance services, as well as fiduciary and asset management, wealth management, investment management, financial planning, and trustee services. Founded in 1875, the corporation is headquartered in Camden, Maine.
The 10-K report delves into Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, which provides insights into the factors affecting the company's consolidated results of operations and financial condition for the year ended December 31, 2024. It also outlines the impact of the company's acquisition of Northway on January 2, 2025, detailing the total consideration paid and the subsequent accounting treatment for the acquisition.
The report also includes a section on non-GAAP financial measures and their reconciliation to GAAP. It presents key financial metrics such as core net income, core diluted earnings per share, core return on average assets, core return on average equity, pre-tax, pre-provision income, efficiency ratio, return on average tangible equity, tangible book value per share, tangible common equity ratio, net interest income (fully-taxable equivalent), core deposits, and average core deposits. These measures are used for performance comparisons, internal analysis, and to aid investors in better understanding the company's operating performance and trends.
Furthermore, the report provides critical accounting estimates, which are reflective of significant judgments and uncertainties, and could potentially result in materially different financial outcomes. These estimates are crucial in understanding the underlying assumptions and uncertainties in the company's financial reporting.
As a result of these announcements, the company's shares have moved -0.2% on the market, and are now trading at a price of $41.65. If you want to know more, read the company's complete 10-K report here.
