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CAMDEN, Maine - Camden National (NASDAQ:CAC) Corporation (NASDAQ: CAC), the largest publicly traded bank holding company in Northern New England, announced the appointment of Raina L. Maxwell to its Board of Directors and the Credit Committee. The appointment took effect on Monday. The bank, currently valued at $734 million in market capitalization, has shown strong market performance with a 43% return over the past year.According to InvestingPro analysis, Camden National demonstrates solid fundamentals with multiple positive indicators, including consistent dividend payments and attractive valuations.
Maxwell, with over a decade of experience in customer satisfaction and financial roles, joins the board of both Camden National Corporation and Camden National Bank. She is recognized for her leadership in customer experience at L.L.Bean, Inc., where she spearheaded the company’s customer satisfaction program. Her financial expertise was honed through roles at Standard & Poor’s Corporate Value Consulting and Carana Corporation.
Larry Sterrs, chair of Camden National’s Board of Directors, expressed confidence in Maxwell’s ability to contribute to the bank’s growth and innovation, citing her commitment to customer satisfaction and financial acumen.
Maxwell, who holds an MBA from the University of Virginia and a BA from the University of New Hampshire, voiced her enthusiasm for joining a company that values community engagement and technological innovation.
Camden National Corporation, with assets of approximately $7.0 billion, operates 73 branches across Maine and New Hampshire. Following its merger with Northway Financial, Inc. on January 2, 2025, the company continues to expand its digital banking services while maintaining personalized customer interactions.
This latest board appointment is part of Camden National’s strategic efforts to enhance leadership and sustain its position in the market. The information in this article is based on a press release statement from Camden National Corporation.
In other recent news, Camden National Corporation reported strong fourth-quarter 2024 earnings, surpassing analyst expectations. The company posted earnings per share of $1.03, exceeding the forecasted $0.88, and generated revenue of $47.57 million, beating the anticipated $45.36 million. The earnings beat was attributed to robust pre-provision net revenue, with favorable contributions from spread income, fee income, and expense management. Camden National’s recent merger with Northway Financial has bolstered its asset growth, expanding its total assets to $7 billion and enhancing its market reach in Maine and New Hampshire. Analyst Damon DelMonte from Keefe, Bruyette & Woods increased the company’s price target to $50, citing a positive outlook for the net interest margin, while maintaining a Market Perform rating. The company’s strategic initiatives and strong financial performance have led to a positive market reaction, reflecting investor confidence. Camden National continues to focus on expanding its digital capabilities and strengthening customer relationships, positioning itself for future growth. The company also anticipates low single-digit loan growth in 2025 and projects a core net interest margin of around 2.60%.
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