Camden National Corp. reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $6.3 million or $0.83 per diluted share compared to net loss of $8.0 million or $1.05 per diluted share for the same period a year ago. Net interest income was $18.2 million compared with $17.5 million for the same period a year ago. Total interest income was $27.9 million compared with $31.5 million for the same period a year ago. Income before income taxes was $9.2 million compared with loss before income taxes of $5.6 million for the same period a year ago. Return on average equity was 13.93% compared with negative return on equity of 18.82% for the same period a year ago. Return on average assets was 1.10% compared with negative return on average assets of 1.38% for the same period a year ago. Core (non-GAAP) net income was $6.3 million or $0.83 per diluted share compared to $5.9 million or $0.77 per diluted share for the same period a year ago. Core (non-GAAP) return on average equity was 13.93% compared with 13.91% for the same period a year ago. Core (non-GAAP) return on average assets was 1.10% compared with 1.02% for the same period a year ago. Core earnings growth was due to an increase in net interest income driven by a higher net interest margin as well as growth in fee income which was partially offset by an increase in the loan loss provision. The net interest income increased due to an increase in the net interest margin of 18 basis points to 3.51% for the third quarter of 2009. For the nine months, the company reported net income of $17.5 million or $2.29 per diluted share compared to net income of $5.3 million or $0.69 per diluted share for the same period a year ago. Net interest income was $55.1 million compared with $52.5 million for the same period a year ago. Total interest income was $86.2 million compared with $96.5 million for the same period a year ago. Income before income taxes was $25.4 million compared with income before income taxes of $13.4 million for the same period a year ago. Return on average equity was 13.48% compared with return on equity of 4.16% for the same period a year ago. Return on average assets was 1.02% compared with return on average assets of 0.31% for the same period a year ago. As on September 30, 2009, the company's book value per share was $24.43. Core (non-GAAP) net income was $17.5 million or $2.29 per diluted share compared to $19.2 million or $2.50 per diluted share for the same period a year ago. Core (non-GAAP) return on average equity 13.48% compared with 15.14% for the same period a year ago. Core (non-GAAP) return on average assets was 1.02% compared with 1.12% for the same period a year ago. Earnings were negatively impacted by an increase in loan loss provision, higher FDIC insurance premiums and increased costs associated with foreclosed properties. The board of directors approved a dividend of $0.25 per share, payable on October 30, 2009 for shareholders of record on October 15, 2009, which is equal to the dividend declared in the same period last year.

Camden National Corp. announced that the Board of Directors of the company declared a $0.25 per share dividend payable on October 30, 2009 for shareholders of record on October 15, 2009.

Camden National Corp. announced unaudited earnings results for the second quarter and six months ended June 30, 2009. The company reported net income for the second quarter 2009 of $5.0 million, a decrease of $2.1 million, as compared to $7.1 million earned during the second quarter of 2008. Diluted earnings per share for the second quarter of 2009 were $0.65 compared to $0.92 for the same period in 2008. Earnings for the second quarter of 2009, when compared to the second quarter of 2008, were negatively impacted by an increase in loan loss provision and higher FDIC insurance premiums which resulted in an additional $3.9 million in pre-tax expense or $0.33 per diluted common share after tax. Net interest income for the second quarter of 2009 increased 3% to $18.3 million compared to $17.8 million for the second quarter of 2008. For the second quarter of 2009, the returns on average equity and average assets were 11.54% and 0.88%, compared to 16.69% and 1.24%, respectively, for the second quarter of 2008. For the quarter, the company reported income before tax of $7,188,000 and total interest income of $28,694,000 and return on average tangible equity of 15.79% compared with income before tax of $10,187,000 and total interest income of $32,077,000 and return on average tangible equity of 23.21% for the same period a year ago. Net income for the six months ended June 30, 2009 was $11.2 million, a decrease of $2.1 million from the $13.3 million earned during the same period in 2008. Year-to-date diluted earnings per share were $1.47 in 2009 compared to $1.73 in 2008. For the six months, the company reported income before tax of $16,222,000 and total interest income of $58,236,000, return on average equity of 13.24%, return on average tangible equity of 18.24% and return on average assets of 0.99% compared with income before tax of $18,992,000 and total interest income of $64,992,000, return on average equity of 15.77%, return on average tangible equity of 22.21% and return on average assets of 1.17% for the same period a year ago. The Board of Directors approved a dividend of $0.25 per share, payable on July 31, 2009 for shareholders of record on July 15, 2009, which is equal to the dividend declared in the same period last year.