CAC - Camden National GAAP EPS of $0.87 misses by $0.03 revenue of $44.15M misses by $0.5M

2023-04-25 08:21:30 ET

• Camden National press release ( NASDAQ: CAC ): Q1 GAAP EPS of $0.87 misses by $0.03 .
• Revenue of $44.15M (-4.4% Y/Y) misses by $0.5M .
• The Company's return on average equity was 11.16% and return on average tangible equity (non-GAAP) was 14.21% for the first quarter of 2023, compared to 14.03% and 18.18%, respectively, for the fourth quarter of 2022.
• Net interest margin decreased 22 basis points to 2.54%, compared to the fourth quarter of 2022.
• As of March 31, 2023, deposits totaled $4.6 billion, a decrease of $184.2 million, or 4%, since December 31, 2022.
• The loan-to-deposit ratio was 88% at March 31, 2023, compared to 83% at December 31, 2022.
• As of March 31, 2023, the Company's common equity ratio was 8.13%, and its tangible common equity ratio (non-GAAP) was 6.56%, compared to 7.96% and 6.37% as of December 31, 2022, respectively.
• As of March 31, 2023, the Company's book value per share was $31.87, and its tangible book value per share (non-GAAP) was $25.28, compared to $30.98 and $24.37 as of December 31, 2022, respectively.

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