$CAC
CAMDEN NATIONAL CORP

2012 Q1 Form 10-Q Financial Statement

#000114420412027129 Filed on May 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $22.97M $24.86M
YoY Change -7.62%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.100M $1.100M
YoY Change 0.0% 37.5%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $4.594M $6.301M
YoY Change -27.09%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $9.675M $9.273M
YoY Change 4.34% 20.12%
Income Tax $3.092M $2.934M
% Of Pretax Income 31.96% 31.64%
Net Earnings $6.583M $6.339M
YoY Change 3.85% 19.38%
Net Earnings / Revenue 28.67% 25.5%
Basic Earnings Per Share $0.86 $0.83
Diluted Earnings Per Share $0.86 $0.83
COMMON SHARES
Basic Shares Outstanding 7.672M shares 7.660M shares
Diluted Shares Outstanding 7.687M shares 7.672M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $683.3M
YoY Change
Cash & Equivalents $35.73M $25.97M
Short-Term Investments $647.5M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $23.74M $24.70M
YoY Change -3.89% -7.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.60M $17.30M
YoY Change 1.73% -3.35%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.339B $2.338B
YoY Change 0.04% 5.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.80M $23.80M
YoY Change 67.23% 2.59%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $254.5M $348.3M
YoY Change -26.93% 26.2%
Total Short-Term Liabilities $294.3M $372.1M
YoY Change -20.91% 24.36%
LONG-TERM LIABILITIES
Long-Term Debt $43.70M $43.60M
YoY Change 0.23% 0.23%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $43.70M $43.60M
YoY Change 0.23% 0.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $294.3M $372.1M
Total Long-Term Liabilities $43.70M $43.60M
Total Liabilities $2.116B $2.128B
YoY Change -0.57% 5.15%
SHAREHOLDERS EQUITY
Retained Earnings $170.0M
YoY Change
Common Stock $51.33M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $223.7M $210.7M
YoY Change
Total Liabilities & Shareholders Equity $2.339B $2.338B
YoY Change 0.04% 5.4%

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $6.583M $6.339M
YoY Change 3.85% 19.38%
Depreciation, Depletion And Amortization $1.100M $1.100M
YoY Change 0.0% 37.5%
Cash From Operating Activities $7.012M $13.50M
YoY Change -48.07% 20.55%
INVESTING ACTIVITIES
Capital Expenditures $187.0K $288.0K
YoY Change -35.07% -90.71%
Acquisitions
YoY Change
Other Investing Activities -$36.40M -$44.30M
YoY Change -17.83% -359.06%
Cash From Investing Activities -$36.61M -$44.58M
YoY Change -17.88% -418.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $269.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $26.01M 26.04M
YoY Change -0.14% -203.75%
NET CHANGE
Cash From Operating Activities $7.012M 13.50M
Cash From Investing Activities -$36.61M -44.58M
Cash From Financing Activities $26.01M 26.04M
Net Change In Cash -$3.593M -5.039M
YoY Change -28.7% -5139.0%
FREE CASH FLOW
Cash From Operating Activities $7.012M $13.50M
Capital Expenditures $187.0K $288.0K
Free Cash Flow $6.825M $13.21M
YoY Change -48.35% 63.14%

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InterestIncomeSecuritiesStateAndMunicipal
365000
CY2012Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
CY2012Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1945000
CY2012Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
22965000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7012000
CY2012Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
150000
CY2012Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6837000
CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
24000
CY2012Q1 us-gaap Occupancy Net
OccupancyNet
1111000
CY2012Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
302000
CY2012Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1945000
CY2012Q1 us-gaap Professional Fees
ProfessionalFees
490000
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
9675000
CY2012Q1 us-gaap Real Estate Owned Valuation Allowance Amounts Applied
RealEstateOwnedValuationAllowanceAmountsApplied
180000
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
130000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2012Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
94708000
CY2012Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
254000
CY2012Q1 us-gaap Servicing Fees Net
ServicingFeesNet
336000
CY2012Q1 us-gaap Interest Expense
InterestExpense
4594000
CY2012Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1005000
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
1525000
CY2012Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
4082000
CY2012Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
1418000
CY2012Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-240000
CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
27000
CY2012Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
18435000
CY2012Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
90000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
6583000
CY2012Q1 us-gaap Fees And Commissions Fiduciary And Trust Activities
FeesAndCommissionsFiduciaryAndTrustActivities
1439000
CY2012Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
339000
CY2012Q1 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
845000
CY2012Q1 us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-21101000
CY2012Q1 us-gaap Interest Income Securities Us Treasury And Other Us Government
InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment
4116000
CY2012Q1 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-928000
CY2012Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
8492000
CY2012Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
91000
CY2012Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2012Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-35617000
CY2012Q1 us-gaap Other Comprehensive Income Available For Sale Securities Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease
-1298000
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
187000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
CY2012Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1033000
CY2012Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
144000
CY2012Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
6908000
CY2012Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
85000000
CY2012Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
17366000
CY2012Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
653000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3092000
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3593000
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7672039 shares
CY2012Q1 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
698000
CY2012Q1 us-gaap Interest Paid
InterestPaid
4563000
CY2012Q1 us-gaap Noninterest Expense
NoninterestExpense
12919000
CY2012Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
18371000
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1219000
CY2012Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
2538000
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7686933 shares
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
26006000
CY2012Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
5728000
CY2012Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
29000
CY2012Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-884000
CY2012Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
319000
CY2012Q1 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
150000
CY2012Q1 us-gaap Other Comprehensive Income Amortization Of Defined Benefit Plan Net Prior Service Cost Recognized In Net Periodic Pension Cost Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax
3000
CY2012Q1 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
1156000
CY2012Q1 cac Regulatory Assessments
RegulatoryAssessments
435000
CY2012Q1 cac Interest Income Federal Funds Sold And Other Short Term Investments
InterestIncomeFederalFundsSoldAndOtherShortTermInvestments
49000
CY2012Q1 cac Equipment And Software Expense
EquipmentAndSoftwareExpense
1223000
CY2012Q1 cac Other Real Estate Owned Expense
OtherRealEstateOwnedExpense
626000
CY2012Q1 cac Other Comprehensive Income Reclassification Adjustment For Sale And Write Down Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleAndWriteDownOfSecuritiesIncludedInNetIncomeNetOfTax
79000
CY2012Q1 cac Increase Decrease In Trading Account Assets
IncreaseDecreaseInTradingAccountAssets
-50000
CY2012Q1 cac Increase Decrease In Prepaid Fdic Assessments
IncreaseDecreaseInPrepaidFDICAssessments
-289000
CY2012Q1 cac Total Non Interest Income Before Other Than Temporary Impairment Of Securities
TotalNon-InterestIncomeBeforeOther-Than-TemporaryImpairmentOfSecurities
5257000
CY2012Q1 cac Brokerage Fees And Insurance Income
BrokerageFeesAndInsuranceIncome
339000
CY2012Q1 cac Proceeds From Recoveries Loans Previously Charged Off
ProceedsFromRecoveriesLoansPreviouslyChargedOff
97000
CY2012Q1 cac Proceeds Payments From Common Stock Issued Under Stock Compensation Plans
ProceedsPaymentsFromCommonStockIssuedUnderStockCompensationPlans
240000

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