Camden National reports Q4 adjusted EPS 58c, consensus 79c

Q4 net interest income was $32.7M, up $125K vs. 3Q23. The increase was driven by a 1 basis point increase in net interest margin between periods to 2.40% for Q4, partially offset by a decrease in average interest-earning assets between periods of less than 1%. Tangible book value per share was $27.42 from $25.24 at previous quarter end. CEO Simon Griffiths stated, “Our balance sheet is one of our strengths and is supported by strong fundamentals, including capital, liquidity and asset quality. As we begin 2024, we are positioned well to lean into this strength and drive future growth.”