CAMDEN NATIONAL CORP's Loan Book Grows to $5 Billion

By Greg Peters • Thursday, June 18 10:56 • Permanent Link

Camden National reported a first-quarter 2026 loan book of $5.0 billion, up 2% from $4.885 billion a year earlier, while average loan balances rose 1% to $4.967 billion from $4.902 billion. Loan yield slipped 6 basis points to 5.39% from 5.45%.

The mix shifted toward commercial real estate and consumer lending. Commercial real estate loans climbed 6% to $2.196 billion from $2.067 billion. Home equity and consumer loans increased 19% to $359 million from $303 million. Residential real estate loans fell 2% to $1.993 billion from $2.028 billion, and commercial loans dropped 15% to $415 million from $487 million.

Deposits were essentially flat at $5.585 billion, compared with $5.597 billion a year earlier, but the composition improved. Savings and money market balances rose 8% to $1.966 billion, interest checking increased 3% to $1.771 billion, and noninterest checking declined 5% to $1.078 billion. Certificates of deposit fell 7% to $652 million, and brokered deposits dropped 45% to $119 million from $218 million. Average deposit balances edged up 1% to $5.366 billion, while deposit cost fell 16 basis points to 1.54% from 1.70%.

On the balance-sheet quality side, nonperforming loans increased to 0.22% of total loans from 0.15%, while nonperforming assets rose to 0.16% of total assets from 0.11%. Net charge-offs improved to 0.04% of average loans from 0.08%, and the allowance for credit losses declined to 0.92% of total loans from 0.96%. Loans 30 to 89 days past due were 0.06%, down from 0.07%.

Fee-related businesses also expanded. Assets under administration reached $12.0 billion, up 11% year over year from $10.8 billion. Non-interest income was $2.43 million in the quarter, compared with $2.20 million a year earlier and $2.44 million in the prior quarter.

Operating efficiency moved slightly lower on a quarter-over-quarter basis, with the efficiency ratio at 53% versus 52% in the fourth quarter of 2025, though it remained below the 59% level posted in the first quarter of 2025. Today the company's shares have moved 0.9% to a price of $51.75. For the full picture, make sure to review CAMDEN NATIONAL CORP's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.