Camden National (CAC) Q3 2026 earnings summary

Executive summary

• Q3 net income was $22.8M and diluted EPS was $1.34, up 8% and 7% YoY; both were 1% below Q2 record results.

• Nine-month net income reached a record $67.7M with EPS of $3.98; adjusted net income, excluding 2025 acquisition-related and other non-recurring items, rose 31% YoY.

• Strong deposit growth improved funding mix and lifted reported NIM 15 bps QoQ; asset quality and regulatory capital remained strong.

Financial highlights

• Record Q3 total revenue was $68.7M; net interest income was $55.4M, up 5% QoQ and 8% YoY. Nine-month net interest income rose 8% to $160.7M.

• Q3 non-interest income was $13.2M, down 8% QoQ and 6% YoY, reflecting lower BOLI and mortgage banking income; nine-month income was $39.7M, up 3%.

• Q3 non-interest expense was $37.5M, up 4% YoY; nine-month expense was $110.6M, down 6%, with 2025 including $9.2M of Northway acquisition costs.

• Q3 provision expense was $1.9M versus $710K in Q2 and $3.0M a year earlier; nine-month provision was $3.2M versus $19.3M.

Outlook and guidance

• Q4 reported NIM is expected to be relatively consistent with Q3; management expects expansion to continue into 2027, though rate hikes may slow progress and quarterly results may fluctuate.

• Q4 non-interest income is estimated at $13.5M–$14.5M and non-interest expense at $37.5M–$38M; modest loan growth is expected, with low-single-digit growth targeted through 2027.

• Commercial loan pipeline was $127M; Q3 new loan originations priced at ~6.30%, with near-term pricing expected at 6.25%–6.50%.

• No formal earnings guidance was stated; modeled NII changes under +200 bps were -0.9% in Year 1 and +3.0% in Year 2, and under -200 bps were +1.1% and +7.0%.