Camden National (CAC) investor relations material

Executive summary

• Achieved record quarterly net income of $23.0 million and diluted EPS of $1.35 for Q2 2026, up 63% year-over-year and 5% sequentially; six-month net income reached $44.9 million, up 110% year-over-year.

• Net interest income rose 8% year-over-year, driven by a 20 basis point expansion in net interest margin to 3.26%.

• Non-interest income increased 11% year-over-year, with broad-based growth across business lines.

• Strategic investments in technology, talent, and digital enhancements are driving efficiency and customer experience improvements.

• Provision for credit losses decreased $6.2 million year-over-year, reflecting lower net charge-offs and strong asset quality.

Financial highlights

• Net interest income for Q2 2026: $52.9 million (79% of total revenues), up from $49.2 million in Q2 2025.

• Net interest margin (fully-taxable equivalent) for Q2 2026: 3.26%, up 20 bps year-over-year; core net interest margin (non-GAAP): 2.97%, up 27 bps.

• Non-interest income for Q2 2026: $14.5 million, up 21% sequentially and 11% year-over-year.

• Non-interest expense was $37.4 million, up 5% due to annual salary increases and equity awards.

• Tangible book value per share increased to $31.64 at June 30, 2026.

Outlook and guidance

• Expecting further net interest margin expansion of 5–10 basis points in Q3, driven by seasonal deposit inflows and asset repricing.

• Non-interest income guidance for Q3: $13.5–$14 million; non-interest expense: $37–$38 million.

• Management expects strong liquidity and stable funding to support future loan growth.

• Capital position remains well above regulatory requirements, supporting strategic growth and shareholder returns.

• Estimated effective tax rate for 2026 is 22.1%, up from 17.2% in 2025 due to prior year discrete tax benefits.