Camden National Corporation (NASDAQ: CAC) is a Maine-based bank holding company that operates Camden National Bank, a commercial and consumer bank founded in 1875 and headquartered in Camden, Maine. The company makes money primarily through net interest income, the spread between interest earned on loans and investments and interest paid on deposits, supplemented by non-interest income from fees on deposit accounts, debit card interchange, mortgage banking, fiduciary services, and brokerage and insurance commissions. As of December 31, 2025, the company held $7.0 billion in total assets and $4.97 billion in total loans, following its January 2, 2025 acquisition of Northway Financial, Inc. and its subsidiary Northway Bank, which added $1.2 billion in total assets and $971.9 million in deposits. The company went public in 1997 and is incorporated under the laws of the State of Maine. FY2025 total revenues reached $255.8 million, a 45% increase over FY2024, with net interest income of $203.3 million and non-interest income of $52.5 million.

Revenue model

Net interest income is the primary revenue source, totaling $203.3 million in FY2025 (vs. $132.5 million in FY2024). Non-interest income of $52.5 million in FY2025 includes debit card interchange fees, service charges on deposit accounts, mortgage banking income, fiduciary fees from Camden National Wealth Management (assets under management of $1.3 billion as of December 31, 2025), and brokerage and insurance commissions. Fiduciary fees are calculated as a percentage of client assets under management.

Products and services

Commercial real estate loans (owner-occupied and non-owner-occupied), commercial loans, residential real estate loans, home equity loans, and consumer loans. Deposit products including business and consumer checking accounts. Debit card services generating interchange fees. Overdraft and cash management services for business customers. Investment advisory and trust services through Camden National Wealth Management. Brokerage and insurance products. Mortgage banking.

Customers and end markets

Business and consumer banking customers across Maine and New Hampshire (following the Northway acquisition). The Northway integration added approximately 50,000 new deposit accounts and approximately 28,000 new debit card customers in 2025. End markets include commercial real estate borrowers, small and mid-sized businesses, and retail consumers.

Value-chain role

Community bank holding company acting as deposit gatherer, lender, and fee-based financial services provider. Funds loans primarily through customer deposits. Manages credit risk through an allowance for credit losses, which stood at $45.3 million as of December 31, 2025, representing 0.91% of total loans.

Geographic exposure

Maine and New Hampshire. The Northway Financial acquisition, completed January 2, 2025, expanded the company's geographic footprint into New Hampshire. Headquarters in Camden, Maine. Incorporated under the laws of the State of Maine.

Source: SEC 10-K, filed 2026-03-06

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