CAMDEN, Maine: Camden National Corporation announced net income for the fourth quarter of 2014 of $6.1 million and diluted earnings per share of $0.82, representing a 38% increase in earnings and a 41% increase in EPS compared to the fourth quarter of 2013.
Camden National Corporation is a $2.8 billion bank holding company headquartered in Camden, Maine. Net income for the year ended December 31, 2014 of $24.6 million and EPS of $3.28, represents an 8% increase in earnings and a 10% increase in EPS compared to the year ended 2013. Camden National’s return on equity and return on assets for the year ended December 31, 2014 was 10.37% and 0.92%, respectively.
Gregory A. Dufour, president and chief executive, said, “The past few years we have focused on several strategic initiatives to reshape our organization for the future to meet the needs of our customers and shareholders. We’ve successfully executed large scale investments — including the acquisition of 14 branches in 2012, the divestiture of five branches in 2013, and the opening of a commercial loan production office in Manchester, New Hampshire in 2014 — while providing consistent earnings and EPS growth to our shareholders,” added Dufour. “Loan growth of 12% in 2014 demonstrates our commitment to growing market share through expansion and hiring seasoned lenders.”
FAME Bank of the Year — The Company was named the “Financial Institution of the Year” for the fifth time in the past six years by the Finance Authority of Maine (“FAME”). This award is in recognition of our commitment to the business community and the economic development of Maine.
