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CAMDEN, Maine - Camden National Corporation (NASDAQ:CAC), a consistently profitable regional bank currently trading at a P/E ratio of 12.8, announced Tuesday the appointment of Marie J. McCarthy as Vice-Chair of its Board of Directors, effective immediately. McCarthy will succeed Lawrence J. Sterrs as Chair when he retires on December 31, 2025, after 10 years of service on the board, including serving as Chair since 2017.
McCarthy has been an independent board member since 2018, chairing the Compensation Committee and serving on the Technology Committee. She recently retired as Chief Operations Officer at L.L.Bean in April 2025 after a 32-year career with the company, where she oversaw operations including fulfillment, returns, manufacturing, customer satisfaction, and corporate facilities and real estate.
"Marie has had a profound impact on our business, consistently applying a disciplined approach to strategy, execution, and customer experience," said Simon Griffiths, President and Chief Executive Officer of Camden National.
McCarthy currently serves on the boards of Maine Health and the Olympia Snowe Women’s Leadership Institute.
The announcement comes as Camden National prepares to celebrate its 150th anniversary. The company is the largest publicly traded bank holding company in Northern New England with $6.9 billion in assets and 72 banking centers across Maine and New Hampshire. According to InvestingPro data, Camden National has maintained dividend payments for 29 consecutive years, currently offering a 4.15% dividend yield. The bank’s shares are currently trading slightly below their Fair Value, based on comprehensive analysis available in InvestingPro’s detailed research report, one of 1,400+ US equity reports on the platform.
The leadership transition follows what the company described in its press release as "a thoughtful and well-executed succession process" designed to ensure leadership continuity. With a market capitalization of $679 million and strong profitability metrics, the bank continues to demonstrate stable financial performance.
In other recent news, Camden National Corporation reported its second-quarter earnings for 2025, revealing a mixed financial performance. The company fell short of analysts’ expectations with an earnings per share (EPS) of $0.89, missing the forecasted $1.11 by 19.82%. However, Camden National exceeded revenue projections, posting $62.28 million against the anticipated $61.04 million, marking a 2.03% positive surprise. These results highlight the company’s ability to generate more revenue than expected, despite the shortfall in EPS. The earnings announcement has been a significant point of interest for investors and analysts alike. While the EPS miss may raise concerns, the revenue beat provides a counterbalance. Investors and stakeholders are closely monitoring these developments to assess the company’s financial trajectory. Analyst firms continue to evaluate Camden National’s performance in light of these results.
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