false2025Q20000750686--12-31http://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://www.camdennational.com/20250630#AccruedInterestPayableAndOtherLiabilitiesxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purecac:Branchcac:loancac:security00007506862025-01-012025-06-3000007506862025-07-3000007506862025-06-3000007506862024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2025-06-3000007506862025-04-012025-06-3000007506862024-04-012024-06-3000007506862024-01-012024-06-300000750686us-gaap:DebitCardMember2025-04-012025-06-300000750686us-gaap:DebitCardMember2024-04-012024-06-300000750686us-gaap:DebitCardMember2025-01-012025-06-300000750686us-gaap:DebitCardMember2024-01-012024-06-300000750686us-gaap:DepositAccountMember2025-04-012025-06-300000750686us-gaap:DepositAccountMember2024-04-012024-06-300000750686us-gaap:DepositAccountMember2025-01-012025-06-300000750686us-gaap:DepositAccountMember2024-01-012024-06-300000750686us-gaap:FiduciaryAndTrustMember2025-04-012025-06-300000750686us-gaap:FiduciaryAndTrustMember2024-04-012024-06-300000750686us-gaap:FiduciaryAndTrustMember2025-01-012025-06-300000750686us-gaap:FiduciaryAndTrustMember2024-01-012024-06-300000750686us-gaap:CommonStockMember2024-03-310000750686us-gaap:RetainedEarningsMember2024-03-310000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-3100007506862024-03-310000750686us-gaap:RetainedEarningsMember2024-04-012024-06-300000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000750686us-gaap:CommonStockMember2024-04-012024-06-300000750686us-gaap:CommonStockMember2024-06-300000750686us-gaap:RetainedEarningsMember2024-06-300000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-3000007506862024-06-300000750686us-gaap:CommonStockMember2025-03-310000750686us-gaap:RetainedEarningsMember2025-03-310000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-3100007506862025-03-310000750686us-gaap:RetainedEarningsMember2025-04-012025-06-300000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300000750686us-gaap:CommonStockMember2025-04-012025-06-300000750686us-gaap:CommonStockMember2025-06-300000750686us-gaap:RetainedEarningsMember2025-06-300000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300000750686us-gaap:CommonStockMember2023-12-310000750686us-gaap:RetainedEarningsMember2023-12-310000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-3100007506862023-12-310000750686us-gaap:RetainedEarningsMember2024-01-012024-06-300000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000750686us-gaap:CommonStockMember2024-01-012024-06-300000750686us-gaap:CommonStockMember2024-12-310000750686us-gaap:RetainedEarningsMember2024-12-310000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310000750686us-gaap:RetainedEarningsMember2025-01-012025-06-300000750686us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300000750686us-gaap:CommonStockMember2025-01-012025-06-300000750686cac:NorthwayFinancialIncNFIMember2025-01-022025-01-020000750686cac:NorthwayFinancialIncNFIMember2025-01-020000750686cac:NorthwayFinancialIncNFIMember2025-06-300000750686cac:NorthwayFinancialIncNFIMember2025-01-012025-06-300000750686cac:NorthwayFinancialIncNFIMember2025-01-0100007506862025-01-022025-01-020000750686us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2025-01-022025-01-020000750686us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember2025-01-022025-01-020000750686cac:NorthwayFinancialIncNFIMember2025-04-012025-06-300000750686us-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300000750686us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-06-300000750686cac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:CorporateDebtSecuritiesMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2025-06-300000750686us-gaap:DebtSecuritiesMember2025-06-300000750686us-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310000750686us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-12-310000750686cac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:CorporateDebtSecuritiesMember2024-12-310000750686us-gaap:DebtSecuritiesMember2024-12-310000750686cac:TransferredSecuritiesMember2024-01-012024-03-310000750686cac:TransferredSecuritiesMember2025-06-300000750686cac:TransferredSecuritiesMember2024-12-310000750686us-gaap:CollateralizedMortgageObligationsMember2025-06-300000750686us-gaap:CollateralizedMortgageObligationsMember2024-12-310000750686us-gaap:AvailableforsaleSecuritiesMember2025-06-300000750686us-gaap:AvailableforsaleSecuritiesMember2024-12-310000750686us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2025-06-300000750686us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2024-12-3100007506862023-04-012023-06-3000007506862024-01-012024-12-310000750686us-gaap:AssetPledgedAsCollateralMember2025-06-300000750686us-gaap:AssetPledgedAsCollateralMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:CommercialLoanMember2025-06-300000750686us-gaap:CommercialLoanMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2024-12-310000750686cac:RetailLoanMember2025-06-300000750686cac:RetailLoanMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMember2025-04-012025-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2024-04-012024-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2025-01-012025-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2024-01-012024-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2024-01-012024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2025-03-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-03-310000750686us-gaap:CommercialPortfolioSegmentMember2025-03-310000750686us-gaap:ResidentialPortfolioSegmentMember2025-03-310000750686cac:HomeEquityPortfolioSegmentMember2025-03-310000750686us-gaap:ConsumerPortfolioSegmentMember2025-03-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2025-04-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-04-012025-06-300000750686us-gaap:CommercialPortfolioSegmentMember2025-04-012025-06-300000750686cac:HomeEquityPortfolioSegmentMember2025-04-012025-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2025-04-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2025-01-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-01-012025-06-300000750686us-gaap:CommercialPortfolioSegmentMember2025-01-012025-06-300000750686cac:HomeEquityPortfolioSegmentMember2025-01-012025-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2025-01-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-03-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-03-310000750686us-gaap:CommercialPortfolioSegmentMember2024-03-310000750686us-gaap:ResidentialPortfolioSegmentMember2024-03-310000750686cac:HomeEquityPortfolioSegmentMember2024-03-310000750686us-gaap:ConsumerPortfolioSegmentMember2024-03-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-04-012024-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-04-012024-06-300000750686us-gaap:CommercialPortfolioSegmentMember2024-04-012024-06-300000750686cac:HomeEquityPortfolioSegmentMember2024-04-012024-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2024-04-012024-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-06-300000750686us-gaap:CommercialPortfolioSegmentMember2024-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2024-06-300000750686cac:HomeEquityPortfolioSegmentMember2024-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2024-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2023-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2023-12-310000750686us-gaap:CommercialPortfolioSegmentMember2023-12-310000750686us-gaap:ResidentialPortfolioSegmentMember2023-12-310000750686cac:HomeEquityPortfolioSegmentMember2023-12-310000750686us-gaap:ConsumerPortfolioSegmentMember2023-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-01-012024-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-01-012024-06-300000750686us-gaap:CommercialPortfolioSegmentMember2024-01-012024-06-300000750686cac:HomeEquityPortfolioSegmentMember2024-01-012024-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-01-012024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-01-012024-12-310000750686us-gaap:CommercialPortfolioSegmentMember2024-01-012024-12-310000750686cac:HomeEquityPortfolioSegmentMember2024-01-012024-12-310000750686us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-12-310000750686cac:NonResidentialBuildingOperatorsIndustrySectorMembercac:LoanConcentrationRiskMembercac:TotalLoanPortfolioMember2025-01-012025-06-300000750686cac:NonResidentialBuildingOperatorsIndustrySectorMembercac:LoanConcentrationRiskMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-01-012025-06-300000750686cac:ResidentialBuildingOperatorsIndustrySectorMembercac:LoanConcentrationRiskMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-01-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:PassMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:SubstandardMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:DoubtfulMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2025-01-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:PassMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:SpecialMentionMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:SubstandardMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:DoubtfulMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-01-012025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMember2025-01-012025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMember2025-01-012025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMember2025-01-012025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMember2025-01-012025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:PassMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:SubstandardMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:DoubtfulMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMember2024-01-012024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:PassMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:SpecialMentionMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:SubstandardMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:DoubtfulMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-01-012024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMember2024-01-012024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMember2024-01-012024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMember2024-01-012024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancialAssetPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancialAssetPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-06-300000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-06-300000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-06-300000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2025-06-300000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2025-06-300000750686us-gaap:FinancingReceivables30To59DaysPastDueMember2025-06-300000750686us-gaap:FinancingReceivables60To89DaysPastDueMember2025-06-300000750686us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-06-300000750686us-gaap:FinancialAssetPastDueMember2025-06-300000750686us-gaap:FinancialAssetNotPastDueMember2025-06-300000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancialAssetPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentNonOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancialAssetPastDueMember2024-12-310000750686cac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-12-310000750686us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-12-310000750686us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-12-310000750686cac:HomeEquityPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-12-310000750686us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-12-310000750686us-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310000750686us-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310000750686us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310000750686us-gaap:FinancialAssetPastDueMember2024-12-310000750686us-gaap:FinancialAssetNotPastDueMember2024-12-310000750686us-gaap:RealEstateMembercac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-06-300000750686cac:GeneralBusinessAssetsMembercac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-06-300000750686us-gaap:CollateralPledgedMembercac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2025-06-300000750686us-gaap:RealEstateMembercac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-12-310000750686cac:GeneralBusinessAssetsMembercac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-12-310000750686us-gaap:CollateralPledgedMembercac:CommercialRealEstatePortfolioSegmentOwnerOccupiedMember2024-12-310000750686us-gaap:RealEstateMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686cac:GeneralBusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:CollateralPledgedMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:RealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686cac:GeneralBusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:CollateralPledgedMemberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:RealEstateMember2025-06-300000750686cac:GeneralBusinessAssetsMember2025-06-300000750686us-gaap:CollateralPledgedMember2025-06-300000750686us-gaap:RealEstateMember2024-12-310000750686cac:GeneralBusinessAssetsMember2024-12-310000750686us-gaap:CollateralPledgedMember2024-12-310000750686us-gaap:CoreDepositsMember2024-12-310000750686us-gaap:CoreDepositsMember2025-01-012025-06-300000750686us-gaap:CoreDepositsMember2025-06-300000750686cac:FHLBBandCorrespondentBankOvernightBorrowingsMemberus-gaap:ShortTermDebtMember2025-06-300000750686cac:FHLBBandCorrespondentBankOvernightBorrowingsMemberus-gaap:ShortTermDebtMember2024-12-310000750686cac:CustomerRepurchaseAgreementsMemberus-gaap:ShortTermDebtMember2025-06-300000750686cac:CustomerRepurchaseAgreementsMemberus-gaap:ShortTermDebtMember2024-12-310000750686us-gaap:ShortTermDebtMember2025-06-300000750686us-gaap:ShortTermDebtMember2024-12-310000750686cac:SubsidiaryOneMemberus-gaap:JuniorSubordinatedDebtMember2025-06-300000750686cac:SubsidiaryOneMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310000750686cac:SubsidiaryTwoMemberus-gaap:JuniorSubordinatedDebtMember2025-06-300000750686cac:SubsidiaryTwoMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310000750686cac:SubsidiaryThreeMemberus-gaap:JuniorSubordinatedDebtMember2025-06-300000750686cac:SubsidiaryThreeMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310000750686cac:SubsidiaryFourMemberus-gaap:JuniorSubordinatedDebtMember2025-06-300000750686cac:SubsidiaryFourMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310000750686cac:SubordinatedDebtandJuniorSubordinatedDebtMember2025-06-300000750686cac:SubordinatedDebtandJuniorSubordinatedDebtMember2024-12-310000750686cac:NorthwayFinancialIncNFIMembercac:CustomerRepurchaseAgreementsMemberus-gaap:ShortTermDebtMember2025-06-300000750686cac:SubsidiaryOneMemberus-gaap:JuniorSubordinatedDebtMember2025-01-022025-01-020000750686cac:SubsidiaryTwoMemberus-gaap:JuniorSubordinatedDebtMember2025-01-022025-01-020000750686us-gaap:MaturityOvernightMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:MaturityOvernightMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:MaturityOvernightMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:MaturityOvernightMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:MaturityOvernightMember2025-06-300000750686us-gaap:MaturityOvernightMember2024-12-310000750686us-gaap:MaturityOvernightMemberus-gaap:CollateralPledgedMember2025-06-300000750686us-gaap:MaturityOvernightMemberus-gaap:CollateralPledgedMember2024-12-310000750686us-gaap:CommitmentsToExtendCreditMember2025-06-300000750686us-gaap:CommitmentsToExtendCreditMember2024-12-310000750686us-gaap:StandbyLettersOfCreditMember2025-06-300000750686us-gaap:StandbyLettersOfCreditMember2024-12-310000750686us-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:DesignatedAsHedgingInstrumentMember2025-06-300000750686cac:CustomerLoanSwapsMemberus-gaap:NondesignatedMember2025-06-300000750686us-gaap:FairValueInputsLevel2Membercac:CustomerLoanSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:LoanParticipationsAndAssignmentsMemberus-gaap:NondesignatedMember2025-06-300000750686us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:NondesignatedMember2025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310000750686us-gaap:DesignatedAsHedgingInstrumentMember2024-12-310000750686cac:CustomerLoanSwapsMemberus-gaap:NondesignatedMember2024-12-310000750686us-gaap:LoanParticipationsAndAssignmentsMemberus-gaap:NondesignatedMember2024-12-310000750686us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2024-12-310000750686us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2024-12-310000750686us-gaap:NondesignatedMember2024-12-310000750686us-gaap:LoansReceivableMember2025-06-300000750686us-gaap:LoansReceivableMember2024-12-310000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686cac:InterestExpenseBorrowingsMemberus-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686cac:InterestExpenseSubordinatedDebenturesMemberus-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMemberus-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMemberus-gaap:CashFlowHedgingMember2025-04-012025-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686cac:InterestExpenseBorrowingsMemberus-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686cac:InterestExpenseSubordinatedDebenturesMemberus-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMemberus-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMemberus-gaap:CashFlowHedgingMember2025-01-012025-06-300000750686cac:InterestRateContractOneMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686cac:InterestRateContractOneMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686cac:InterestRateContractOneMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686cac:InterestIncomeLoansAndFeesMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686cac:InterestExpenseBorrowingsMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686cac:InterestExpenseSubordinatedDebenturesMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMemberus-gaap:CashFlowHedgingMember2024-04-012024-06-300000750686cac:InterestRateContractOneMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686cac:InterestRateContractOneMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686cac:InterestRateContractOneMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686cac:InterestIncomeLoansAndFeesMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686cac:InterestRateContractThreeMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686cac:InterestExpenseBorrowingsMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686cac:InterestRateContractFourMemberus-gaap:CashFlowHedgingMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686cac:InterestExpenseSubordinatedDebenturesMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686cac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMemberus-gaap:CashFlowHedgingMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestIncomeLoansAndFeesMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseBorrowingsMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestIncomeLoansAndFeesMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseBorrowingsMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-04-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-04-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000750686us-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestIncomeLoansAndFeesMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseBorrowingsMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestIncomeLoansAndFeesMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseBorrowingsMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeIncludedComponentMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2025-01-012025-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestIncomeLoansAndFeesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseBorrowingsMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMembercac:InterestExpenseSubordinatedDebenturesMembercac:AOCIDerivativeQualifyingAsHedgeExcludedComponentMember2024-01-012024-06-300000750686cac:CustomerLoanSwapsMemberus-gaap:NondesignatedMember2025-04-012025-06-300000750686cac:CustomerLoanSwapsMemberus-gaap:NondesignatedMember2024-04-012024-06-300000750686cac:CustomerLoanSwapsMemberus-gaap:NondesignatedMember2025-01-012025-06-300000750686cac:CustomerLoanSwapsMemberus-gaap:NondesignatedMember2024-01-012024-06-300000750686us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2025-04-012025-06-300000750686us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2024-04-012024-06-300000750686us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2025-01-012025-06-300000750686us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2024-01-012024-06-300000750686us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2025-04-012025-06-300000750686us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2024-04-012024-06-300000750686us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2025-01-012025-06-300000750686us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2024-01-012024-06-300000750686us-gaap:NondesignatedMember2025-04-012025-06-300000750686us-gaap:NondesignatedMember2024-04-012024-06-300000750686us-gaap:NondesignatedMember2025-01-012025-06-300000750686us-gaap:NondesignatedMember2024-01-012024-06-300000750686cac:CustomerLoanSwapDealerBankMember2025-06-300000750686cac:CustomerLoanSwapsCommercialCustomerMember2025-06-300000750686us-gaap:InterestRateContractMember2025-06-300000750686cac:CustomerLoanSwapDealerBankMember2024-12-310000750686cac:CustomerLoanSwapsCommercialCustomerMember2024-12-310000750686us-gaap:InterestRateContractMember2024-12-310000750686srt:MinimumMember2025-06-300000750686srt:SubsidiariesMember2025-06-300000750686srt:SubsidiariesMember2024-12-3100007506862006-12-310000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-04-012025-06-300000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-04-012025-06-300000750686cac:InterestExpenseBorrowingsMember2025-04-012025-06-300000750686cac:InterestExpenseBorrowingsMember2024-04-012024-06-300000750686cac:InterestIncomeInterestandFeesonLoansMember2025-04-012025-06-300000750686cac:InterestIncomeInterestandFeesonLoansMember2024-04-012024-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-01-012025-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-06-300000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-01-012025-06-300000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-01-012024-06-300000750686cac:InterestExpenseBorrowingsMember2025-01-012025-06-300000750686cac:InterestExpenseBorrowingsMember2024-01-012024-06-300000750686cac:InterestIncomeInterestandFeesonLoansMember2025-01-012025-06-300000750686cac:InterestIncomeInterestandFeesonLoansMember2024-01-012024-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-03-310000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-03-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-03-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-04-012025-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-06-300000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-06-300000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-12-310000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-12-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-12-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-01-012025-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-03-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-04-012024-06-300000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-04-012024-06-300000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-04-012024-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-06-300000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-06-300000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-06-300000750686us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000750686us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000750686us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-06-300000750686cac:ProductsAndServicesDebtCardIncomeMember2025-04-012025-06-300000750686cac:ProductsAndServicesDebtCardIncomeMember2024-04-012024-06-300000750686cac:ProductsAndServicesDebtCardIncomeMember2025-01-012025-06-300000750686cac:ProductsAndServicesDebtCardIncomeMember2024-01-012024-06-300000750686cac:ProductsAndServicesDepositAccountsServiceChargesMember2025-04-012025-06-300000750686cac:ProductsAndServicesDepositAccountsServiceChargesMember2024-04-012024-06-300000750686cac:ProductsAndServicesDepositAccountsServiceChargesMember2025-01-012025-06-300000750686cac:ProductsAndServicesDepositAccountsServiceChargesMember2024-01-012024-06-300000750686cac:ProductsAndServicesFiduciaryServicesIncomeMember2025-04-012025-06-300000750686cac:ProductsAndServicesFiduciaryServicesIncomeMember2024-04-012024-06-300000750686cac:ProductsAndServicesFiduciaryServicesIncomeMember2025-01-012025-06-300000750686cac:ProductsAndServicesFiduciaryServicesIncomeMember2024-01-012024-06-300000750686cac:ProductsAndServicesBrokerageandInsuranceCommissionsMember2025-04-012025-06-300000750686cac:ProductsAndServicesBrokerageandInsuranceCommissionsMember2024-04-012024-06-300000750686cac:ProductsAndServicesBrokerageandInsuranceCommissionsMember2025-01-012025-06-300000750686cac:ProductsAndServicesBrokerageandInsuranceCommissionsMember2024-01-012024-06-300000750686cac:ProductsAndServicesOtherIncomeMember2025-04-012025-06-300000750686cac:ProductsAndServicesOtherIncomeMember2024-04-012024-06-300000750686cac:ProductsAndServicesOtherIncomeMember2025-01-012025-06-300000750686cac:ProductsAndServicesOtherIncomeMember2024-01-012024-06-300000750686us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2025-04-012025-06-300000750686us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2024-04-012024-06-300000750686us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2025-01-012025-06-300000750686us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2024-01-012024-06-300000750686us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-04-012025-06-300000750686us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-04-012024-06-300000750686us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-01-012025-06-300000750686us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-01-012024-06-300000750686us-gaap:PerformanceSharesMember2025-04-012025-06-300000750686us-gaap:PerformanceSharesMember2024-04-012024-06-300000750686us-gaap:PerformanceSharesMember2025-01-012025-06-300000750686us-gaap:PerformanceSharesMember2024-01-012024-06-300000750686us-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMembercac:CustomerLoanSwapsMember2025-06-300000750686us-gaap:FairValueInputsLevel1Membercac:CustomerLoanSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueInputsLevel3Membercac:CustomerLoanSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateContractMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2025-06-300000750686us-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembercac:CollateralizedMortgageObligationsIssuedByUnitedStatesGovernmentSponsoredEnterprisesMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMembercac:CustomerLoanSwapsMember2024-12-310000750686us-gaap:FairValueInputsLevel1Membercac:CustomerLoanSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel2Membercac:CustomerLoanSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel3Membercac:CustomerLoanSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateContractMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateLockCommitmentsMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForwardContractsMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:ForwardContractsMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310000750686us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2025-06-300000750686us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CollateralPledgedMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembercac:ImpairedLoansSpecificallyReservedMember2025-06-300000750686us-gaap:FairValueMeasurementsNonrecurringMembercac:ImpairedLoansSpecificallyReservedMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCostToSellMemberus-gaap:MarketApproachValuationTechniqueMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembercac:ImpairedLoansSpecificallyReservedMember2024-12-310000750686us-gaap:FairValueMeasurementsNonrecurringMembercac:ImpairedLoansSpecificallyReservedMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputCostToSellMemberus-gaap:MarketApproachValuationTechniqueMember2024-12-310000750686us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-06-300000750686us-gaap:FairValueInputsLevel1Member2025-06-300000750686us-gaap:FairValueInputsLevel2Member2025-06-300000750686us-gaap:FairValueInputsLevel3Member2025-06-300000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300000750686us-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2025-06-300000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialPortfolioSegmentMember2025-06-300000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2025-06-300000750686us-gaap:CarryingReportedAmountFairValueDisclosureMembercac:HomeEquityPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel1Membercac:HomeEquityPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel2Membercac:HomeEquityPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel3Membercac:HomeEquityPortfolioSegmentMember2025-06-300000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ConsumerPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel1Memberus-gaap:ConsumerPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel2Memberus-gaap:ConsumerPortfolioSegmentMember2025-06-300000750686us-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerPortfolioSegmentMember2025-06-300000750686us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-12-310000750686us-gaap:FairValueInputsLevel1Member2024-12-310000750686us-gaap:FairValueInputsLevel2Member2024-12-310000750686us-gaap:FairValueInputsLevel3Member2024-12-310000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-12-310000750686us-gaap:CommercialRealEstatePortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstatePortfolioSegmentMember2024-12-310000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialPortfolioSegmentMember2024-12-310000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ResidentialPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialPortfolioSegmentMember2024-12-310000750686us-gaap:CarryingReportedAmountFairValueDisclosureMembercac:HomeEquityPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel1Membercac:HomeEquityPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel2Membercac:HomeEquityPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel3Membercac:HomeEquityPortfolioSegmentMember2024-12-310000750686us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:ConsumerPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel1Memberus-gaap:ConsumerPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel2Memberus-gaap:ConsumerPortfolioSegmentMember2024-12-310000750686us-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerPortfolioSegmentMember2024-12-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File No. 001-13227

CAMDEN NATIONAL CORPORATION

(Exact name of registrant as specified in its charter)


Maine			01-0413282
(State or other jurisdiction of			(I.R.S. Employer
incorporation or organization)			Identification No.)

2 ELM STREET	CAMDEN	ME	04843
(Address of principal executive offices)			(Zip Code)

Registrant's telephone number, including area code: (207) 236-8821

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, without par value	CAC	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer

☐

Accelerated filer

☒

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practical date:

Outstanding at July 30, 2025: Common stock (no par value) 16,920,277 shares.

CAMDEN NATIONAL CORPORATION

FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2025

TABLE OF CONTENTS OF INFORMATION REQUIRED IN REPORT


		PAGE
PART I. FINANCIAL INFORMATION

ITEM 1.	FINANCIAL STATEMENTS

	Consolidated Statements of Condition (unaudited) - June 30, 2025 and December 31, 2024	3

	Consolidated Statements of Income (unaudited) - Three and Six Months Ended June 30, 2025 and 2024	4

	Consolidated Statements of Comprehensive Income (unaudited) - Three and Six Months Ended June 30, 2025 and 2024	5

	Consolidated Statements of Changes in Shareholders’ Equity (unaudited) - Three and Six Months Ended June 30, 2025 and 2024	6

	Consolidated Statements of Cash Flows (unaudited) - Six Months Ended June 30, 2025 and 2024	7

	Notes to the Unaudited Consolidated Financial Statements	8

ITEM 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	48

ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK	82

ITEM 4.	CONTROLS AND PROCEDURES	83

PART II. OTHER INFORMATION

ITEM 1.	LEGAL PROCEEDINGS	84

ITEM 1A.	RISK FACTORS	84

ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	84

ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	84

ITEM 4.	MINE SAFETY DISCLOSURES	84

ITEM 5.	OTHER INFORMATION	84

ITEM 6.	EXHIBITS	85

SIGNATURES		86

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED STATEMENTS OF CONDITION

(unaudited)


(In thousands, except number of shares)	June 30, 2025		December 31, 2024
ASSETS
Cash and due from banks	$	98,248	$	62,379
Interest-bearing deposits in other banks (including restricted cash)	15,567		152,584
Total cash, cash equivalents and restricted cash	113,815		214,963
Investments:
Trading securities	5,326		5,243
Available-for-sale securities, at fair value (amortized cost of $917,064 and $673,003, respectively)	860,217		593,749
Held-to-maturity securities, at amortized cost (fair value of $471,195 and $470,824, respectively)	509,298		517,778
Other investments	26,879		22,514
Total investments	1,401,720		1,139,284
Loans held for sale, at fair value (book value of $22,361 and $10,923, respectively)	22,567		11,049
Loans	4,931,369		4,115,259
Less: allowance for credit losses on loans	(53,022)		(35,728)
Net loans	4,878,347		4,079,531
Goodwill	151,505		94,697
Core deposit intangible assets	45,526		415
Bank-owned life insurance	110,342		104,308
Premises and equipment, net	53,413		37,052
Deferred tax assets	57,340		40,037
Other assets	85,469		83,802
Total assets	$	6,920,044	$	5,805,138
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits:
Non-interest checking	$	1,118,080	$	925,571
Interest checking	1,663,335		1,483,589
Savings and money market	1,823,275		1,511,589
Certificates of deposit	698,185		532,424
Brokered deposits	211,837		179,994
Total deposits	5,514,712		4,633,167
Short-term borrowings	599,367		500,621

Junior subordinated debentures	61,365		44,331
Accrued interest and other liabilities	92,452		95,788
Total liabilities	6,267,896		5,273,907
Commitments and Contingencies (Note 9)
Shareholders’ Equity
Common stock, no par value: authorized 40,000,000 shares, issued and outstanding 16,919,689 and 14,579,339 on June 30, 2025 and December 31, 2024, respectively	214,365		116,425
Retained earnings	515,662		509,452




Accumulated other comprehensive loss	(77,879)		(94,646)
Total shareholders’ equity	652,148		531,231
Total liabilities and shareholders’ equity	$	6,920,044	$	5,805,138

The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED STATEMENTS OF INCOME

(unaudited)


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except number of shares and per share data)	2025		2024		2025		2024
Interest Income
Interest and fees on loans	$	67,477	$	53,422	$	134,026	$	105,131
Taxable interest on investments	10,257		6,807		20,029		13,834
Nontaxable interest on investments	455		461		923		926
Dividend income	493		521		1,013		833
Other interest income	641		951		1,727		1,621
Total interest income	79,323		62,162		157,718		122,345
Interest Expense
Interest on deposits	24,594		24,169		49,215		47,347
Interest on borrowings	4,620		5,285		8,638		10,483
Interest on junior subordinated debentures	900		524		1,798		1,058
Total interest expense	30,114		29,978		59,651		58,888
Net interest income	49,209		32,184		98,067		63,457
Provision (credit) for credit losses	6,920		650		16,349		(1,452)
Net interest income after provision (credit) for credit losses	42,289		31,534		81,718		64,909
Non-Interest Income
Debit card income	3,646		3,069		6,879		5,935
Service charges on deposit accounts	2,405		2,113		4,723		4,140
Income from fiduciary services	1,981		1,870		3,819		3,619
Brokerage and insurance commissions	1,794		1,441		3,491		2,680
Bank-owned life insurance	1,003		694		1,663		1,377
Mortgage banking income, net	1,060		516		1,568		1,324


Other income	1,178		942		2,120		1,892
Total non-interest income	13,067		10,645		24,263		20,967
Non-Interest Expense
Salaries and employee benefits	19,392		15,601		39,635		31,555
Furniture, equipment and data processing	4,294		3,497		9,025		7,126
Merger and acquisition costs	1,405		—		8,930		—
Net occupancy costs	2,693		1,981		5,726		4,051
Debit card expense	1,725		1,311		3,415		2,575
Amortization of core deposit intangible assets	1,473		139		2,946		278
Consulting and professional fees	1,310		1,149		2,808		2,009
Regulatory assessments	1,127		813		2,113		1,670
Other real estate owned and collection costs, net	91		47		181		57
Other expenses	4,086		2,772		7,268		5,351
Total non-interest expense	37,596		27,310		82,047		54,672
Income before income tax expense	17,760		14,869		23,934		31,204
Income Tax Expense	3,679		2,876		2,527		5,939
Net Income	$	14,081	$	11,993	$	21,407	$	25,265
Per Share Data
Basic earnings per share	$	0.84	$	0.82	$	1.27	$	1.73
Diluted earnings per share	$	0.83	$	0.81	$	1.26	$	1.72
Cash dividends declared per share	$	0.42	$	0.42	$	0.84	$	0.84
Weighted average number of common shares outstanding	16,905,159		14,591,189		16,874,974		14,581,758
Diluted weighted average number of common shares outstanding	16,972,395		14,647,047		16,941,899		14,639,734

The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited)


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2025		2024		2025		2024
Net Income	$	14,081	$	11,993	$	21,407	$	25,265
Other comprehensive income:
Net change in fair value of debt securities, net of tax	5,289		1,049		19,691		(2,899)
Net change in fair value of cash flow hedging derivatives, net of tax	(908)		740		(2,913)		3,231
Net change in other comprehensive income for supplemental executive retirement plan and other postretirement benefit plan, net of tax	(5)		(5)		(11)		(11)
Other comprehensive income	4,376		1,784		16,767		321
Comprehensive Income	$	18,457	$	13,777	$	38,174	$	25,586

The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(unaudited)


	Three Months Ended
	Common Stock			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Shareholders’ Equity
(In thousands, except number of shares and per share data)	Shares Outstanding	Amount
Balance at March 31, 2024	14,593,830	$	116,449	$	488,143	$	(103,015)	$	501,577
Net income	—	—		11,993		—		11,993
Other comprehensive income, net of tax	—	—		—		1,784		1,784
Stock-based compensation expense	—	920		—		—		920
Issuance of vested share awards, net of repurchase for tax withholdings	25,432	(180)		—		—		(180)
Common stock repurchased	(50,000)	(1,646)		—		—		(1,646)
Cash dividends declared ($0.42 per share)	—	—		(6,162)		—		(6,162)
Balance at June 30, 2024	14,569,262	$	115,543	$	493,974	$	(101,231)	$	508,286
Balance at March 31, 2025	16,885,571	$	213,589	$	508,720	$	(82,255)	$	640,054
Net income	—	—		14,081		—		14,081
Other comprehensive income, net of tax	—	—		—		4,376		4,376
Stock-based compensation expense	—	1,136		—		—		1,136
Issuance of vested share awards, net of repurchase for tax withholdings	34,118	(360)		—		—		(360)



Cash dividends declared ($0.42 per share)	—	—		(7,139)		—		(7,139)
Balance at June 30, 2025	16,919,689	$	214,365	$	515,662	$	(77,879)	$	652,148


	Six Months Ended
	Common Stock			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Shareholders’ Equity
(In thousands, except number of shares and per share data)	Shares Outstanding	Amount
Balance at December 31, 2023	14,565,952	$	115,602	$	481,014	$	(101,552)	$	495,064
Net income	—	—		25,265		—		25,265
Other comprehensive income, net of tax	—	—		—		321		321
Stock-based compensation expense	—	1,702		—		—		1,702
Issuance of vested share awards, net of repurchase for tax withholdings	53,310	(115)		—		—		(115)
Common stock repurchased	(50,000)	(1,646)		—		—		(1,646)
Cash dividends declared ($0.84 per share)	—	—		(12,305)		—		(12,305)
Balance at June 30, 2024	14,569,262	$	115,543	$	493,974	$	(101,231)	$	508,286
Balance at December 31, 2024	14,579,339	$	116,425	$	509,452	$	(94,646)	$	531,231
Net income	—	—		21,407		—		21,407
Other comprehensive income, net of tax	—	—		—		16,767		16,767
Stock-based compensation expense	—	1,963		—		—		1,963
Issuance of vested share awards, net of repurchase for tax withholdings	56,568	(513)		—		—		(513)
Common stock issued for acquisition of Northway Financial, Inc. (Note 3)	2,283,782	96,490		—		—		96,490


Cash dividends declared ($0.84 per share)(1)	—	—		(15,197)		—		(15,197)
Balance at June 30, 2025	16,919,689	$	214,365	$	515,662	$	(77,879)	$	652,148

The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)


	Six Months Ended June 30,
(In thousands)	2025		2024
Operating Activities
Net Income	$	21,407	$	25,265
Adjustments to reconcile net income to net cash provided by operating activities:
Originations of mortgage loans held for sale	(101,690)		(98,966)
Proceeds from the sale of mortgage loans	91,258		95,804
Gain on sale of mortgage loans, net of origination costs	(1,005)		(848)
Provision (credit) for credit losses	16,349		(1,452)
Depreciation and amortization expense	2,828		1,634
Investment securities (accretion) and amortization, net	884		885
Stock-based compensation expense	1,963		1,702
Amortization of core deposit intangible assets	2,946		278
Purchase accounting accretion, net	(9,981)		(40)

Net (decrease) increase in derivative collateral received from counterparties	(6,870)		11,350




Deferred income tax (benefit) expense	(1,359)		339
Decrease (increase) in other assets	1,501		(4,451)
(Decrease) increase in other liabilities	(11,165)		748
Net cash provided by operating activities	7,066		32,248
Investing Activities
Cash received in Northway acquisition	48,261		—
Proceeds from maturities of available-for-sale debt securities	48,995		38,873
Proceeds from sales of available-for-sale debt securities	56,432		—
Purchase of available-for-sale debt securities	(120,851)		—
Proceeds from maturities and recoveries of held-to-maturity securities	16,298		15,064
Purchase of held-to-maturity securities	(5,000)		—
Net increase in loans	(30,659)		(46,577)

Purchase of Federal Home Loan Bank and Federal Reserve Bank stock	(18,265)		(9,324)
Proceeds from sale of Federal Home Loan Bank stock	16,485		7,613
Purchase of premises and equipment	(3,247)		(1,833)


Recoveries of previously charged-off loans	299		271

Net cash provided by investing activities	8,748		4,087
Financing Activities
Net decrease in deposits	(90,241)		(83,340)
Net proceeds from borrowings less than 90 days	33,247		31,999
Proceeds from the Bank Term Funding Program	—		90,000
Repayment of Bank Term Funding Program	—		(55,000)
Repayments of Federal Home Loan Bank long-term advances	(45,000)		—



Common stock repurchases	—		(1,646)
Issuance of restricted stock, net of repurchase for tax withholdings	(513)		(115)
Cash dividends paid on common stock	(14,212)		(12,278)
Finance lease payments	(243)		(199)
Net cash used in financing activities	(116,962)		(30,579)
Net (decrease) increase in cash, cash equivalents and restricted cash	(101,148)		5,756
Cash, cash equivalents, and restricted cash at beginning of period	214,963		99,804
Cash, cash equivalents and restricted cash at end of period	$	113,815	$	105,560

Supplemental information
Interest paid	$	59,203	$	58,711
Income taxes paid	983		5,260


Cash dividends declared, not paid	7,125		6,158
Change in fair value hedges presented within residential real estate loans and other assets	2,965		5,501
Assets acquired in Northway acquisition, excluding cash received	1,162,736		—
Liabilities assumed in Northway acquisition	1,116,771		—
Common stock issued for Northway acquisition	96,490		—

The accompanying notes are an integral part of these consolidated financial statements.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited consolidated interim financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures required by accounting principles generally accepted in the United States of America for complete presentation of financial statements. In the opinion of management, the consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the consolidated statements of condition of Camden National Corporation (the "Company") as of June 30, 2025 and December 31, 2024, the consolidated statements of income for the three and six months ended June 30, 2025 and 2024, the consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024, the consolidated statements of changes in shareholders' equity for the three and six months ended June 30, 2025 and 2024, and the consolidated statements of cash flows for the six months ended June 30, 2025 and 2024. The consolidated financial statements include the accounts of the Company and Camden National Bank (the "Bank"), a wholly-owned subsidiary of the Company (which includes the consolidated accounts of Healthcare Professional Funding Corporation ("HPFC") and Property A, Inc.). All intercompany accounts and transactions have been eliminated in consolidation. Assets held by the Bank in a fiduciary capacity, through Camden National Wealth Management, a division of the Bank, are not assets of the Company and, therefore, are not included in the consolidated statements of condition. The Company also owns 100% of the common stock of Camden Capital Trust A (“CCTA”), Union Bankshares Capital Trust I (“UBCT”), Northway Capital Trust III (“NCT III”) and Northway Capital Trust IV (“NCT IV”). These entities are unconsolidated subsidiaries of the Company. Certain reclassifications may have been made to prior period amounts to conform to the current period presentation. Any such reclassifications did not impact net income or shareholders' equity as previously reported. Net income reported for the three and six months ended June 30, 2025, is not necessarily indicative of the results that may be expected for the full year. The information in this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

The acronyms, abbreviations and definitions identified below are used throughout this Form 10-Q, including Part I. "Financial Information" and Part II. "Management's Discussion and Analysis of Financial Condition and Results of Operations." The following is provided to aid the reader and provide a reference page when reviewing these sections of the Form 10-Q.

Acronym

Description

Acronym

Description

AFS:

Available-For-Sale

GAAP:

Generally Accepted Accounting Principles in the United States

ALCO:

Asset/Liability Committee

GDP:

Gross Domestic Product

ACL:

Allowance for Credit Losses

HTM:

Held-To-Maturity

AOCI:

Accumulated Other Comprehensive Income (Loss)

Management ALCO:

Management Asset/Liability Committee

ASC:

Accounting Standards Codification

MBS:

Mortgage-Backed Security

ASU:

Accounting Standards Update

N/A:

Not Applicable

Bank:

Camden National Bank, a wholly-owned subsidiary of Camden National Corporation

NCT III:

Northway Capital Trust III, an unconsolidated entity formed by Northway Financial, Inc., acquired by the Company on January 2, 2025

BOLI:

Bank-owned life insurance

NCT IV:

Northway Capital Trust IV, an unconsolidated entity formed by Northway Financial, Inc., acquired by the Company on January 2, 2025

Board ALCO:

Board of Directors' Asset/Liability Committee

Northway:

Northway Financial, Inc., the bank holding company of Northway Bank, acquired by the Company on January 2, 2025

CCTA:

Camden Capital Trust A, an unconsolidated entity formed by the Company

N.M.:

Not Meaningful

BTFP:

Bank Term Funding Program, introduced by the Federal Reserve Bank in March 2023

OCC:

Office of the Comptroller of the Currency

CD:

Certificate of Deposits

OCI:

Other Comprehensive Income (Loss)

Company:

Camden National Corporation

OREO:

Other Real Estate Owned

CMO:

Collateralized Mortgage Obligation

PCD:

Purchase Credit Deteriorated

EPS:

Earnings Per Share

SERP:

Supplemental Executive Retirement Plans

FASB:

Financial Accounting Standards Board

SOFR:

Secured Overnight Financing Rate

FDIC:

Federal Deposit Insurance Corporation

TDR:

Troubled-Debt Restructured Loan

FHLBB:

Federal Home Loan Bank of Boston

UBCT:

Union Bankshares Capital Trust I, an unconsolidated entity formed by Union Bankshares Company that was subsequently acquired by the Company

FRB:

Federal Reserve System Board of Governors

U.S.:

United States of America

NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS AND TAX LEGISLATION

The following provides a brief description of recently issued accounting pronouncements that have yet to be adopted by the Company:

ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). The FASB issued ASU 2023-09 to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is to be applied on a prospective basis and is effective for annual periods beginning after December 15, 2024 with early adoption permitted. ASU 2023-09 will impact income tax disclosures, and the Company does not expect a material impact to the Company’s consolidated financial statements.

ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). The FASB issued ASU 2024-03 to improve disclosures about a public business entity’s expenses and to address requests from investors for more detailed information about certain types of expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 with early adoption permitted. The Company does not expect a material impact to the disclosures in its consolidated financial statements.

NOTE 3 – BUSINESS COMBINATIONS

On January 2, 2025, the Company completed its acquisition of Northway Financial, Inc. (“Northway”) in an all-stock transaction in which Northway merged with and into the Company, with the Company surviving (the “Merger”). The Company acquired 100% of Northway’s outstanding common stock. Additionally, Northway Bank, a wholly owned subsidiary of Northway, merged with and into Camden National Bank, with Camden National Bank continuing as the surviving bank. The Merger qualified as a tax-free reorganization for federal income tax purposes.

At the effective time of the Merger, each share of Northway’s common stock was converted into the right to receive 0.83 shares of the Company’s common stock, with cash paid in lieu of any fractional shares. Each share of the Company’s common stock issued and outstanding immediately prior to the effective time of the Merger remained outstanding and was unchanged by the Merger. The total consideration payable by the Company was $96.5 million, based on the Company’s January 2, 2025 (acquisition date) closing price of $42.25, as reported by Nasdaq. In total, the Company issued 2.3 million shares of its common stock, representing 14% of the outstanding shares of the Company’s common stock at the time of issuance.

The Merger expanded the Company’s presence in New Hampshire by adding 17 branches, and increased the Company’s size and scale. This expansion provides the opportunity to build a greater recognition and awareness of the Company’s brand with its increased presence in New Hampshire. The expanded presence of the Company is expected to drive profitability and shareholder value through opportunities for growth, broader product offerings, higher lending limits and anticipated efficiencies. As of June 30, 2025, the combined Company had 72 branches and $6.9 billion in assets.

The Company accounted for the Northway acquisition as a business combination under the acquisition method of accounting. The acquisition method requires the acquirer to recognize the assets acquired and the liabilities assumed at their fair values as of the acquisition date (with limited exceptions). Additionally, the acquisition method does not provide for acquisition expenses to be capitalized as part of the transaction. The Company incurred $1.4 million and $8.9 million of certain non-recurring, Merger-related costs during the three and six months ended June 30, 2025, respectively. These non-recurring expenses are presented as merger and acquisition costs within non-interest expense on the consolidated statements of income.

The Company generated $56.8 million of provisional goodwill in connection with the Northway acquisition that has been allocated to the Company's banking reporting unit (Camden National Bank). The goodwill generated represents the synergies expected from combining operations of the two organizations, including, but not limited to, systems conversion, consolidation of certain locations, and reduced headcount across operation teams. The goodwill generated from the transaction is not deductible for tax purposes. The Company’s calculation of goodwill is subject to change for up to one year after the closing date of the transaction as additional information relative to estimates becomes available. As the Company finalizes its analysis of acquired assets and liabilities, there may be adjustments to the recorded carrying values.

The following table summarizes the consideration paid for Northway and the estimated fair value of the assets acquired and liabilities assumed as of the date of the Northway acquisition:


(In thousands except shares)	As Acquired		Purchase Accounting Adjustments		As Recorded at Acquisition
Consideration Paid:
Company common stock (2,283,782 shares at $42.25 per share)					$	96,490

Recognized Identified Assets Acquired and Liabilities Assumed, at Fair Value:
Assets
Loans and loans held for sale(1)	$	864,031	$	(91,439)	$	772,592
Investments	229,222		732		229,954
Cash and due from banks	48,261		—		48,261
Deferred tax assets	14,006		6,909		20,915
Premises and equipment	9,303		7,547		16,850
Core deposit intangible assets	—		48,058		48,058
Bank-owned life insurance	4,372		—		4,372
Other assets	14,394		1,059		15,453
Total Assets	1,183,589		(27,134)		1,156,455

Liabilities
Deposits	971,899		(226)		971,673
Short-term borrowings	65,499		—		65,499
Long-term borrowings	45,000		184		45,184
Junior subordinated debentures	20,620		(3,736)		16,884
Other liabilities	17,940		(407)		17,533
Total Liabilities	1,120,958		(4,185)		1,116,773

Total identified assets acquired and liabilities assumed, at fair value	$	62,631	$	(22,949)	39,682

Goodwill					$	56,808

(1) The purchase accounting adjustment on loans and loans held for sale is net of the acquired allowance for credit losses (“ACL”) on loans of $10.2 million and acquired net deferred origination costs of $2.0 million, as these balances were eliminated in purchase accounting. Additionally, the Company established an ACL on acquired loans designated as purchase credit deteriorated (“PCD”) of $3.1 million and this has been included in the loan and loans held for sale fair value adjustment. The purchase accounting adjustment on loans and loans held for sale before the adjustments for ACL on acquired loans and net deferred origination costs was a discount on the acquired loan balance of $96.7 million.

Purchase accounting adjustments to assets acquired and liabilities assumed generally are amortized using an effective yield, straight-line basis, or other reasonable method consistent with the expected benefit over periods consistent with the estimated useful life or contractual term of the related assets and liabilities.

Fair values of the major categories of assets acquired and liabilities assumed were determined as follows:

Loans and loans held for sale — The acquired loans were recorded at fair value. The fair value of the acquired loans was determined using market participant assumptions in estimating the amount and timing of both principal and interest cash flows expected to be collected, as adjusted for an estimate of future credit losses and prepayments, and then applying a market-based discount rate to those cash flows. Management retained a third-party valuation specialist to assist with the determination of the fair value of loans acquired and the results were reviewed by management. The overall discount on the acquired loans was primarily the result of market interest rates as of the acquisition date being higher than the stated interest rates of the acquired loans. For the three and six months ended June 30, 2025, the Company recorded $4.3 million and $8.6 million, respectively, of net loan accretion attributable to the fair value discount for interest rate marks on all the acquired loans and the credit marks for all non-PCD loans since the acquisition date.

The acquired loan portfolio was segmented into two segments: (1) PCD loans and (2) non-PCD loans.

PCD Loans. The Company is required to record PCD assets, defined as a more-than-insignificant deterioration in credit quality since origination or issuance, at the purchase price plus the credit losses expected at the time of acquisition. The Company determined criteria to designate loans that had seen a more-than-insignificant deterioration in credit quality, such as loans in default, extensive delinquency issues, and risk rating downgrades to determine the PCD segment. Any non-credit discount resulting from the acquired pool of PCD financial assets is allocated to each individual asset. At the acquisition date, the initial ACL determined on a collective or individual basis is allocated to individual assets to appropriately allocate any non-credit discount. For PCD loans, an ACL is recognized at acquisition date by allocating the fair value of the determined credit marks to the ACL.

The following table provides details related to the fair value of acquired PCD loans:


(In thousands)	As of January 2, 2025
Unpaid principal balance of acquired PCD loans	$	103,048
Interest and liquidity discount	(9,407)
ACL on PCD loans	(3,071)
Fair value of acquired PCD loans	$	90,570

Non-PCD Loans. Acquired loans that are not designated as PCD loans are designated as non-PCD loans. For loans designated as non-PCD, in determining the fair value of the acquired loans, the credit risk component is accounted for within the reported loan balance as of the acquisition date. For non-PCD loans, the associated interest and credit marks are recognized within net interest income over the life of the acquired loan using the effective-yield method, as appropriate.

The following table provides details related to the fair value of acquired non-PCD loans:


(In thousands)	As of January 2, 2025
Unpaid principal balance of acquired non-PCD loans	$	769,036
Interest and liquidity discount	(80,771)
Credit risk discount	(6,243)
Fair value of acquired non-PCD loans	$	682,022

As of the acquisition date, the acquired non-PCD loans are accounted for within the Company’s ACL model and an ACL on loans is established within a corresponding charge to provision for credit losses on the statements of income. The non-PCD loans were pooled based on similar characteristics to the Company’s segmentation. On acquisition date, the Company established an ACL on loans and recognized a $6.3 million provision for credit losses associated with the acquisition of non-PCD loans.

Investments — The Company acquired bond investments as part of the Northway acquisition. The fair value of the acquired bond investments at the acquisition date was estimated using quoted broker pricing for identical securities and an independent third-party pricing service.

Cash and due from banks — The fair values of cash and due from banks approximate the respective carrying amounts as the instruments are payable on demand or have short-term maturities.

Deferred tax assets — The Company acquired deferred tax assets and assumed deferred tax liabilities as part of the Northway acquisition. Deferred tax assets and liabilities are presented on a net basis on the consolidated statements of condition and are not recorded at fair value in accordance with GAAP. The Merger qualified as a stock transaction for tax purposes, and, accordingly, the tax basis of the assets acquired and liabilities assumed was not adjusted, creating temporary timing differences for the various fair value adjustments.

Premises and equipment — The fair value of acquired bank premises was determined utilizing independent third-party appraisals and other methods.

Core deposit intangible assets — Core deposit intangible assets were determined using the discounted cash flow method, plus the tax amortization benefit. The fair value of core deposit intangible assets was derived by comparing the interest rate and servicing costs that the Company pays on the core deposit liability versus the current market rate for alternative sources of financing. The intangible asset represents the stable and relatively low cost source of funds that the deposits and accompanying relationships provide the Company when compared to alternative funding sources. Refer to Note 6 for further discussion of the Company’s core deposit intangible assets and amortization.

Deposits —The fair value of acquired checking, savings, and money market accounts was assumed to approximate the carrying value as these accounts have no stated maturity and are payable on demand. The fair value of CDs was determined based on the present value of the contractual cash flows over the remaining period to maturity using a market interest rate.

Borrowings — The fair value of trust preferred securities was determined based on the present value of the contractual cash flows over the remaining period to maturity using a market interest rate. The fair value on the FHLBB advances was based on the actual selling price at or near the acquisition date. The fair value of acquired retail repurchase agreements was assumed to approximate its carrying value.

The following table presents selected unaudited pro forma financial information reflecting the acquisition of Northway and assuming it was completed as of January 1, 2024. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the combined financial results of the Company and Northway had the transaction actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full-year period. Information for the three and six months ended June 30, 2025 reflects the actual results of the Company excluding merger costs, provision for credit losses on non-PCD loans, and the benefit from a deferred tax rate change. Information for the three and six months ended June 30, 2024, includes Northway’s calculated results for the three and six months ended June 30, 2024 and reflect adjustments related to the amortization or accretion of purchase accounting fair value adjustments, merger and acquisition costs, provision for credit losses on non-PCD loans, and the benefit from a deferred tax rate change. The unaudited pro forma information below does not reflect management’s estimate of any revenue-enhancing opportunities or anticipated cost-savings.


	Pro Forma (Unaudited) Three Months Ended June 30,				Pro Forma (Unaudited) Six Months Ended June 30,
(In thousands)	2025		2024		2025		2024
Total revenues(1)	$	62,276	$	56,929	$	122,330	$	112,638
Net income	15,185		14,859		30,627		23,995

(1) Revenue is defined as the sum of net interest income plus non-interest income.

NOTE 4 – INVESTMENTS

Trading Securities

Trading securities are reported on the Company's consolidated statements of condition at fair value. As of June 30, 2025 and December 31, 2024, the fair value of the Company's trading securities was $5.3 million and $5.2 million, respectively. These securities are held in a rabbi trust account and invested in mutual funds. The trading securities will be used for future payments associated with the Company's deferred compensation plan for eligible employees and directors.

AFS Debt Securities

AFS debt securities are reported on the Company's consolidated statements of condition at fair value. The following table summarizes the amortized cost, estimated fair value, and unrealized gains (losses) of AFS debt securities, as of the dates indicated:


(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
June 30, 2025
Obligations of states and political subdivisions	$	5,421	$	—	$	(92)	$	5,329
MBS issued or guaranteed by U.S. government-sponsored enterprises	687,078		3,886		(52,947)		638,017
CMO issued or guaranteed by U.S. government-sponsored enterprises	206,863		1,019		(7,663)		200,219
Subordinated corporate bonds	17,702		—		(1,050)		16,652
Total AFS debt securities	$	917,064	$	4,905	$	(61,752)	$	860,217
December 31, 2024

Obligations of states and political subdivisions	$	5,423	$	—	$	(134)	$	5,289
MBS issued or guaranteed by U.S. government-sponsored enterprises	493,766		353		(69,163)		424,956
CMO issued or guaranteed by U.S. government-sponsored enterprises	156,131		502		(9,154)		147,479
Subordinated corporate bonds	17,683		—		(1,658)		16,025
Total AFS debt securities	$	673,003	$	855	$	(80,109)	$	593,749

As of June 30, 2025 and December 31, 2024, there was no allowance carried on AFS debt securities.

In 2022, the Company transferred securities with a fair value of $520.3 million from AFS to HTM. The unrealized losses on the AFS debt securities at the time of transfer were $72.1 million, pre-tax, and were reported within AOCI. These unrealized losses are being amortized over the remaining life of the securities from AOCI into the HTM securities on the consolidated statements of condition. As of June 30, 2025, the net unrealized losses on the transferred securities reported within AOCI were $39.4 million, net of a deferred tax asset of $11.4 million, and as of December 31, 2024 were $41.8 million, net of a deferred tax asset of $11.4 million.

The net unrealized losses on AFS debt securities reported within AOCI (excluding the aforementioned securities transferred from AFS to HTM) as of June 30, 2025 and December 31, 2024, were $45.0 million, net of a deferred tax asset of $13.0 million, and $62.2 million, net of a deferred tax asset of $17.0 million, respectively.

The following table details the Company's sales of AFS debt securities for the periods indicated below:


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2025		2024		2025		2024
Proceeds from sales(1)	$	—	$	—	$	56,432	$	—
Gross realized gains	—		—		—		—
Gross realized losses	—		—		—		—

(1) The Company sold certain AFS debt securities acquired in the acquisition of Northway shortly after the acquisition date at fair value, and, therefore, no gain or loss was recognized on the sale.

The following table presents the Company's AFS debt securities with gross unrealized losses, for which an ACL has not been recorded, segregated by the length of time the securities have been in a continuous loss position, as of the dates indicated:


		Less Than 12 Months				12 Months or More				Total
(In thousands, except number of holdings)	Number of Holdings	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
June 30, 2025
Obligations of states and political subdivisions	9	$	721	$	—	$	3,632	$	(92)	$	4,353	$	(92)
MBS issued or guaranteed by U.S. government-sponsored enterprises	141	26,918		(115)		346,349		(52,832)		373,267		(52,947)
CMO issued or guaranteed by U.S. government-sponsored enterprises	55	56,183		(327)		52,888		(7,336)		109,071		(7,663)
Subordinated corporate bonds	10	490		(10)		16,162		(1,040)		16,652		(1,050)
Total AFS debt securities	215	$	84,312	$	(452)	$	419,031	$	(61,300)	$	503,343	$	(61,752)



December 31, 2024

Obligations of states and political subdivisions	11	$	1,377	$	(7)	$	3,597	$	(127)	$	4,974	$	(134)
MBS issued or guaranteed by U.S. government-sponsored enterprises	136	36,732		(260)		352,823		(68,903)		389,555		(69,163)
CMO issued or guaranteed by U.S. government-sponsored enterprises	47	36,146		(227)		55,540		(8,927)		91,686		(9,154)
Subordinated corporate bonds	10	494		(6)		15,531		(1,652)		16,025		(1,658)
Total AFS debt securities	204	$	74,749	$	(500)	$	427,491	$	(79,609)	$	502,240	$	(80,109)

For the three and six months ended June 30, 2025 and 2024, the unrealized losses on the Company's AFS debt securities have not been recognized into income because management does not intend to sell, and it is not more-likely-than-not it will be required to sell, any of the AFS debt securities before recovery of its amortized cost basis. Furthermore, the unrealized losses were due to changes in interest rates and other market conditions and were not reflective of credit events. Agency-backed and government-sponsored enterprise securities have a long history of no credit losses, including during times of severe stress. The principal and interest payments on agency guaranteed debt is backed by the U.S. government. Government-sponsored enterprises similarly guarantee principal and interest payments and securities backed by government-sponsored enterprises carry an implicit guarantee from the U.S. Department of the Treasury. Additionally, government-sponsored enterprise securities are exceptionally liquid, readily marketable, and provide a substantial amount of price transparency and price parity, indicating a perception of zero credit losses. Municipal debt holdings are comprised of high credit quality (rated A- or higher) state and municipal obligations. High credit quality state and municipal obligations have a history of zero to near-zero credit loss. Subordinated corporate bonds are primarily comprised of investment grade senior notes and senior subordinated notes of other financial institutions.

As of June 30, 2025 and December 31, 2024, total accrued interest receivable on AFS debt securities, which has been excluded from reported amortized cost basis on AFS debt securities, was $2.4 million and $1.7 million, respectively, and was reported within other assets on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date.

The amortized cost and estimated fair values of the Company's AFS debt securities by contractual maturity as of June 30, 2025, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-related securities are shown in total, as their maturities are highly variable.


(In thousands)	Amortized Cost		Fair Value
Due in one year or less	$	115	$	116
Due after one year through five years	13,293		12,864
Due after five years through ten years	9,715		9,001
Due after ten years	—		—
Subtotal	23,123		21,981
Mortgage-related securities	893,941		838,236
Total	$	917,064	$	860,217

HTM Debt Securities

HTM debt securities are reported on the Company's consolidated statements of condition at amortized cost. The following table summarizes the amortized cost, estimated fair value and unrealized gains (losses) of HTM debt securities as of the dates indicated:


(In thousands)	Amortized Cost(1)		Unrealized Gains		Unrealized Losses		Fair Value
June 30, 2025
Obligations of U.S. government-sponsored enterprises	$	7,797	$	—	$	(391)	$	7,406
Obligations of states and political subdivisions	55,659		40		(3,140)		52,559
MBS issued or guaranteed by U.S. government-sponsored enterprises	285,329		—		(22,377)		262,952
CMO issued or guaranteed by U.S. government-sponsored enterprises	136,076		185		(12,944)		123,317
Subordinated corporate bonds	24,437		794		(270)		24,961
Total HTM debt securities	$	509,298	$	1,019	$	(39,122)	$	471,195
December 31, 2024
Obligations of U.S. government-sponsored enterprises	$	7,729	$	—	$	(647)	$	7,082
Obligations of states and political subdivisions	56,047		96		(1,872)		54,271
MBS issued or guaranteed by U.S. government-sponsored enterprises	292,170		—		(28,980)		263,190
CMO issued or guaranteed by U.S. government-sponsored enterprises	142,467		150		(15,747)		126,870
Subordinated corporate bonds	19,365		476		(430)		19,411
Total HTM debt securities	$	517,778	$	722	$	(47,676)	$	470,824

(1)Amortized cost presented above includes unamortized unrealized losses from the aforementioned transfer from AFS to HTM securities that occurred in 2022. As of June 30, 2025 and December 31, 2024, the unamortized unrealized losses on the 2022 transfer included within amortized cost were as follows: (1) $788,000 and $856,000 in obligations of U.S. government-sponsored enterprises, (2) $4.9 million and $5.1 million in obligations of state and political subdivisions, (3) $29.0 million and $30.8 million in MBS, (4) $15.4 million and $16.4 million in CMO, and (5) $39,000 and $54,000 in subordinated corporate bonds, respectively.

In the first quarter of 2023, the Company wrote-off its $1.8 million Signature Bank corporate bond in response to Signature Bank's failure. The write-off was recorded as a provision on HTM debt securities in the consolidated statements of income. During the first quarter of 2024, the Company sold the Signature Bank corporate bond and recovered $910,000, which was recorded as a credit for credit losses on HTM debt securities in the consolidated statements of income.

The following table presents the activity in the ACL on HTM debt securities for the periods indicated:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2025				2024		2025		2024
Beginning balance	$	—			$	—	$	—	$	—
Charge-offs	—				—		—		—
Recoveries	—				—		—		910
Credit for credit losses	—				—		—		(910)
Ending balance	$	—	$	—	$	—	$	—	$	—

The Company evaluated its HTM debt securities with an amortized cost as of June 30, 2025 and December 31, 2024, and determined that the expected credit loss on its HTM portfolio was immaterial, and therefore it did not carry an ACL on the HTM portfolio at either date.

The HTM debt securities portfolio is comprised of the same types of securities as the AFS debt securities portfolio. Refer to the discussion above for considerations of credit risk.

As of June 30, 2025 and December 31, 2024, none of the Company's HTM debt securities were past due or on non-accrual status; therefore, the Company did not recognize any interest income on non-accrual HTM debt securities during the three and six months ended June 30, 2025 and 2024. As of June 30, 2025 and December 31, 2024, total accrued interest receivable on HTM debt securities was $1.7 million and $1.6 million, respectively, and no allowance was provided for. Accrued interest on HTM debt securities is reported within other assets on the consolidated statements of condition and excluded from reported amortized cost.

The amortized cost and estimated fair values of HTM debt securities by contractual maturity as of June 30, 2025 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-related securities are shown in total, as their maturities are highly variable.


(In thousands)	Amortized Cost		Fair Value






Due in one year or less	$	356	$	355
Due after one year through five years	8,623		8,564
Due after five years through ten years	37,786		37,622
Due after ten years	41,128		38,385
Subtotal	87,893		84,926
Mortgage-related securities	421,405		386,269
Total	$	509,298	$	471,195

AFS and HTM Debt Securities Pledged

As of June 30, 2025 and December 31, 2024, AFS and HTM debt securities with an amortized cost of $872.5 million and $519.9 million and estimated fair values of $811.6 million and $449.0 million, respectively, were pledged to secure FHLBB advances, FRB advances, public deposits, and securities sold under agreements to repurchase and for other purposes required or permitted by law.

Other Investments

The Company's FHLBB, FRB and other correspondent bank common stock are each reported at cost within other investments on the consolidated statements of condition. The Company evaluates these investments for impairment based on the ultimate recoverability of the par value. The Company did not record any impairment on its other investments for the three and six months ended June 30, 2025 and 2024.

The following table summarizes the Company's other investments as presented on the consolidated statements of condition, as of the dates indicated:


(In thousands)	June 30, 2025		December 31, 2024
FHLBB	$	18,117	$	17,140
FRB	8,692		5,374
Other	70		—
Total other investments	$	26,879	$	22,514

NOTE 5 – LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS

Loans

The composition of the Company’s loan portfolio, excluding residential loans held for sale, was as follows for the dates indicated:


(In thousands)	June 30, 2025		December 31, 2024
Commercial Loans:
Commercial real estate - non-owner-occupied	$	1,704,593	$	1,387,252
Commercial real estate - owner-occupied	385,384		324,712
Commercial	506,883		382,785

Total commercial loans	2,596,860		2,094,749
Retail Loans:
Residential real estate	2,018,332		1,752,249
Home equity	297,963		253,251
Consumer	18,214		15,010
Total retail loans	2,334,509		2,020,510
Total loans	$	4,931,369	$	4,115,259

The loan balances for each portfolio segment presented above are net of their respective unamortized fair value mark discount on acquired loans and net of unamortized loan origination costs for the dates indicated:


(In thousands)	June 30, 2025		December 31, 2024
Net unamortized loan origination costs	$	6,709	$	6,685
Net unamortized fair value mark discount on acquired loans	(88,166)		(79)
Total	$	(81,457)	$	6,606

The Company's lending activities are primarily conducted in Maine and New Hampshire. The Company originates single- and multi-family residential loans, commercial real estate loans, business loans, municipal loans and a variety of consumer loans. In addition, the Company makes loans for the construction of residential homes, multi-family properties and commercial real estate properties. The ability and willingness of borrowers to honor their repayment commitments is generally dependent on the level of overall economic activity within the geographic area and the general economy.

Refer to Note 3 for further details on loans acquired through the acquisition of Northway on January 2, 2025.

Related Party Loans. In the normal course of business, the Bank makes loans to certain officers, directors and their associated companies, under terms that are consistent with the Company's lending policies and regulatory requirements and that do not involve more than the normal risk of collectability or present other unfavorable features. As of June 30, 2025 and December 31, 2024, outstanding loans to certain officers, directors and their associated companies were less than 5% of the Company's shareholders' equity.

Loan Sales

For the three months ended June 30, 2025 and 2024, the Company sold $48.4 million and $53.5 million, respectively, of residential mortgage loans on the secondary market, which resulted in gains on the sale of loans (net of costs) of $508,000 and $378,000, respectively. For the six months ended June 30, 2025 and 2024, the Company sold $90.3 million and $95.0 million, respectively, of residential mortgage loans on the secondary market, which resulted in gains on the sale of the loans (net of costs) of $1.0 million and $848,000, respectively.

As of June 30, 2025 and December 31, 2024, the Company had certain residential mortgage loans with a principal balance of $22.4 million and $10.9 million, respectively, designated as held for sale. The Company has elected the fair value option of accounting for its loans held for sale, and as of June 30, 2025 and December 31, 2024, it had recorded unrealized gains of $206,000 and $126,000, respectively. For the three months ended June 30, 2025 and 2024, the Company recorded the change in unrealized losses on loans held for sale within mortgage banking income, net, on the Company's consolidated statements of income of $182,000 and $76,000, respectively. For the six months ended June 30, 2025 and 2024, the Company recorded the change in unrealized losses on residential mortgage loans held for sale recorded within mortgage banking income, net, on the Company’s consolidated statements of income of $80,000 and $9,000, respectively.

The Company has forward delivery commitments with a secondary market investor on each of its loans held for sale as of June 30, 2025 and December 31, 2024. Refer to Note 10 for further discussion of the Company's forward delivery commitments.

ACL on Loans

The Company manages its loan portfolio proactively to effectively identify problem credits and assess trends early, implement effective work-out strategies, and take charge-offs as promptly as practical. In addition, the Company continuously reassesses its underwriting standards in response to credit risk posed by changes in economic conditions. The Company monitors and manages credit risk through the following governance structure:

•The Credit Risk Policy Committee, which is an internal management committee comprised of various executives and senior managers across business lines, including Accounting and Finance, Credit Underwriting, Collections and Special Assets, Risk, and Commercial and Retail Banking, along with the Credit Risk and Special Assets teams, oversees the Company's systems and procedures to monitor the credit quality of its loan portfolio, conduct a loan review program, and maintain the integrity of the loan rating system.

•The adequacy of the ACL is overseen by the Management Provision Committee, which is an internal management committee. As of January 1, 2025, the Management Provision Committee is comprised of the Company’s chief executive officer, chief financial officer, chief credit officer and certain members of senior management within Accounting, Credit Risk, and Collections and Special Assets. The Management Provision Committee supports the oversight efforts of the Audit Committee of the Board of Directors.

•The Directors' Credit Committee of the Board of Directors reviews large credit exposures, monitors external loan review reports, reviews the lending authority for individual loan officers when required, and has approval authority and responsibility for all matters regarding the loan policy and other credit-related policies, including reviewing and monitoring asset quality trends, and concentration levels.

•The Audit Committee of the Board of Directors has approval authority and oversight responsibility for the ACL adequacy and methodology.

Segmentation. For purposes of determining the ACL on loans, the Company disaggregates its loans into portfolio segments. Each portfolio segment possesses unique risk characteristics that are considered when determining the appropriate level of allowance. As of June 30, 2025 and December 31, 2024, the Company's loan portfolio segments, as determined based on the unique risk characteristics of each, include the following:

Commercial Real Estate - Non-Owner-Occupied. Non-owner occupied commercial real estate loans are, in substance, all commercial real estate loans that are not categorized by the Company as owner-occupied commercial real estate loans. Non owner-occupied commercial estate loans are investment properties in which the primary source for repayment of the loan by the borrower is derived from rental income associated with the property or the proceeds of the sale, refinancing, or permanent refinancing of the property. Non-owner-occupied commercial real estate loans consist of mortgage loans to finance investments in real property that may include, but are not limited to, multi-family residential, commercial/retail office space, industrial/warehouse space, hotels, assisted living facilities and other specific use properties. Also included within the non-owner-occupied commercial real estate loan segment are construction projects until they are completed. Commercial real estate loans are typically written with amortizing payment structures. Collateral values are determined based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines.

Commercial Real Estate - Owner-Occupied. Generally, owner-occupied commercial real estate loans are properties that are owned and operated by the borrower, and the primary source for repayment is the cash flow from the ongoing operations and activities conducted by the borrower's business. Owner-occupied commercial real estate loans consist of mortgage loans to finance investments in real property that may include, but are not limited to, commercial/retail office space, restaurants, educational and medical practice facilities and other specific use properties. Commercial real estate loans are typically written with amortizing payment structures. Collateral values are determined based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines.

Commercial. Commercial loans consist of revolving and term loan obligations extended to business and corporate enterprises for the purpose of financing working capital and/or capital investment. Collateral generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, and/or real estate, if applicable. Commercial loans are primarily paid by the operating cash flow of the borrower. Commercial loans may be secured or unsecured.

Residential Real Estate. Residential real estate loans held in the Company's loan portfolio are made to borrowers who demonstrate the ability to make scheduled payments with full consideration to underwriting factors. Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan-to-value ratios within established policy guidelines. Collateral consists of mortgage liens on one- to four-family residences, including for investment purposes.

Home Equity. Home equity loans and lines of credit are made to qualified individuals and are secured by senior or junior mortgage liens on owner-occupied one- to four-family homes, condominiums, or vacation homes. The home equity loan has a fixed rate and is billed as equal payments comprised of principal and interest. The home equity line of credit has a variable rate and is billed as interest-only payments during the draw period. At the end of the draw period, the home equity line of credit is billed as a percentage of the principal balance plus all accrued interest. Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan-to-value ratios within established policy guidelines.

Consumer. Consumer loan products including personal lines of credit and amortizing loans made to qualified individuals for various purposes such as education, auto loans, debt consolidation, personal expenses or overdraft protection. Borrower qualifications include favorable credit history combined with supportive income and collateral requirements within established policy guidelines, as applicable. Consumer loans may be secured or unsecured.

The following table presents the activity in the ACL on loans for the periods indicated:


	Commercial Real Estate
(In thousands)	Non-Owner-Occupied		Owner- Occupied		Commercial		Residential Real Estate		Home Equity		Consumer		Total
As of or for the Three Months Ended June 30, 2025
Beginning balance, March 31, 2025	$	18,952	$	4,192	$	6,135	$	13,872	$	3,416	$	156	$	46,723
Charge-offs	—		—		(350)		—		—		(75)		(425)
Recoveries	1		—		120		5		—		2		128
Provision (credit) for loan losses	445		122		6,170		(368)		149		78		6,596
Ending balance, June 30, 2025	$	19,398	$	4,314	$	12,075	$	13,509	$	3,565	$	161	$	53,022
As of or for the Six Months Ended June 30, 2025
Beginning balance, December 31, 2024	$	14,897	$	2,481	$	5,856	$	9,979	$	2,397	$	118	$	35,728
Charge-offs	—		(191)		(1,245)		(4)		(3)		(102)		(1,545)
Recoveries	2		51		230		11		—		5		299
Acquired PCD loans (Note 3)	1,659		340		575		305		165		27		3,071
Provision for loans losses:
Provision for acquired non-PCD loans (Note 3)	2,335		840		816		1,979		268		55		6,293
General provision for loan losses	505		793		5,843		1,239		738		58		9,176
Total provision for loan losses	2,840		1,633		6,659		3,218		1,006		113		15,469
Ending balance, June 30, 2025	$	19,398	$	4,314	$	12,075	$	13,509	$	3,565	$	161	$	53,022
As of or for the Three Months Ended June 30, 2024
Beginning balance, March 31, 2024	$	15,294	$	2,230	$	4,460	$	10,565	$	2,360	$	704	$	35,613
Charge-offs	—		—		(454)		—		—		(19)		(473)
Recoveries	1		—		70		7		1		5		84
(Credit) provision for loan losses	(27)		(64)		1,331		(1,001)		(50)		(1)		188
Ending balance, June 30, 2024	$	15,268	$	2,166	$	5,407	$	9,571	$	2,311	$	689	$	35,412
As of or for the Six Months Ended June 30, 2024
Beginning balance, December 31, 2023	$	16,581	$	2,290	$	4,869	$	10,254	$	2,217	$	724	$	36,935
Charge-offs	—		—		(763)		—		—		(55)		(818)
Recoveries	8		—		162		13		81		7		271
(Credit) provision for loan losses	(1,321)		(124)		1,139		(696)		13		13		(976)
Ending balance, June 30, 2024	$	15,268	$	2,166	$	5,407	$	9,571	$	2,311	$	689	$	35,412
As of or for the Year Ended December 31, 2024
Beginning balance, December 31, 2023	$	16,581	$	2,290	$	4,869	$	10,254	$	2,217	$	724	$	36,935
Charge-offs	—		—		(1,784)		—		(1)		(98)		(1,883)
Recoveries	10		—		455		26		98		34		623
(Credit) provision for loan losses	(1,694)		191		2,316		(301)		83		(542)		53
Ending balance, December 31, 2024	$	14,897	$	2,481	$	5,856	$	9,979	$	2,397	$	118	$	35,728

The ACL on loans increased $6.3 million during the three months ended June 30, 2025, which was driven by one syndicated commercial loan totaling $12.0 million as of June 30, 2025, as the borrower filed for bankruptcy during this period. Due to the risks associated with this borrower’s ability to repay, the Company individually evaluated the loan and provided for a specific reserve on this loan during the three months ended June 30, 2025. As of June 30, 2025, the ACL on this commercial loan was $6.0 million and resulted in an increase in provision for credit losses of $5.9 million for the three months ended June 30, 2025.

As of June 30, 2025 and December 31, 2024, total accrued interest receivable on loans, which has been excluded from reported amortized cost basis on loans, was $16.0 million and $12.7 million, respectively, and reported within other assets on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date.

Credit Concentrations

The Company focuses on maintaining a well-balanced and diversified loan portfolio and imposes internal credit concentration limits that includes consideration of regulatory requirements, which are reviewed quarterly by the Credit Risk Policy Committee. Despite such efforts, it is recognized that credit concentrations may occasionally emerge as a result of economic conditions, changes in local demand, natural loan growth and runoff. To identify credit concentrations effectively, all commercial and commercial real estate loans are assigned Standard Industrial Classification codes, North American Industry Classification System codes, and state and county codes. Shifts in portfolio concentrations are monitored. As of June 30, 2025, the Company's total exposure to the lessors of nonresidential buildings' industry (operators of commercial and industrial buildings, retail establishments, theaters, banks and insurance buildings) and the lessors of residential buildings' industry (lessors of buildings used as residences, such as single-family homes, apartments and town houses) were both 13% of total loans, and 31% and 30%, respectively, of commercial real estate loans. There were no other industry exposures exceeding 10% of the Company's total loan portfolio as of June 30, 2025.

Credit Quality Indicators

To further identify loans with similar risk profiles, the Company categorizes each portfolio segment into classes by credit risk characteristic and applies a credit quality indicator to each portfolio segment. The indicators for commercial real estate - non-owner-occupied and owner-occupied, commercial and residential real estate portfolio segments are represented by Grades 1 through 10 as outlined below. In general, risk ratings are adjusted periodically throughout the year as updated analysis and review warrants. This process may include, but is not limited to, annual credit and loan reviews, periodic reviews of loan performance metrics, such as delinquency rates, and quarterly reviews of adversely risk rated loans. The Company uses the following definitions when assessing grades for the purpose of evaluating the risk and adequacy of the ACL on loans:

•Grade 1 through 6 — Grades 1 through 6 represent groups of loans that are not subject to adverse criticism as defined in regulatory guidance. Loans in these groups exhibit characteristics that represent low to moderate risks, which is measured using a variety of credit risk criteria, such as cash flow coverage, debt service coverage, balance sheet leverage, liquidity, management experience, industry position, prevailing economic conditions, support from secondary sources of repayment and other credit factors that may be relevant to a specific loan. In general, these loans are supported by properly margined collateral and guarantees of principal parties.

•Grade 7 — Loans with potential weakness (Special Mention). Loans in this category are currently protected based on collateral and repayment capacity and do not constitute undesirable credit risk, but have potential weakness that may result in deterioration of the repayment process at some future date. This classification is used if a negative trend is evident in the obligor’s financial situation. Special mention loans do not sufficiently expose the Company to warrant adverse classification.

•Grade 8 — Loans with definite weakness (Substandard). Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or by collateral pledged. Borrowers experience difficulty in meeting debt repayment requirements. Deterioration is sufficient to cause the Company to look to the sale of collateral.

•Grade 9 — Loans with potential loss (Doubtful). Loans classified as doubtful have all the weaknesses inherent in the substandard grade with the added characteristic that the weaknesses make collection or liquidation of the loan in full highly questionable and improbable. The possibility of some loss is extremely high, but because of specific pending factors that may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined.

•Grade 10 — Loans with definite loss (Loss). Loans classified as loss are considered uncollectible. The loss classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the asset because recovery and collection time may be protracted.

The Company periodically reassesses asset quality indicators to reflect appropriately the risk composition of the Company’s loan portfolio. Home equity and consumer loans are not individually risk rated, but rather analyzed as groups taking into account delinquency rates and other economic conditions which may affect the ability of borrowers to meet debt service requirements, including interest rates and energy costs. Performing loans include loans that are current and loans that are past due less than 90 days. Loans that are past due over 90 days and non-accrual loans, are considered non-performing.

Based on the most recent analysis performed, the risk category of loans by portfolio segment by vintage was as follows as of and for the dates indicated:


(In thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of and for the period ended June 30, 2025
Commercial real estate - non-owner-occupied
Risk rating
Pass (Grades 1-6)	$	54,187	$	117,848	$	114,279	$	371,400	$	320,110	$	642,098	$	—	$	—	$	1,619,922
Special mention (Grade 7)	—		—		—		22,055		3,906		3,414		—		—		29,375
Substandard (Grade 8)	—		—		193		26,890		—		28,213		—		—		55,296
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total commercial real estate - non-owner-occupied	$	54,187	$	117,848	$	114,472	$	420,345	$	324,016	$	673,725	$	—	$	—	$	1,704,593
Gross charge-offs for the six months ended	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - owner-occupied
Risk rating
Pass (Grades 1-6)	$	14,693	$	54,348	$	36,586	$	52,108	$	84,687	$	122,708	$	—	$	—	$	365,130
Special mention (Grade 7)	—		—		—		811		10		374		—		—		1,195
Substandard (Grade 8)	—		199		1,039		3,491		1,854		12,476		—		—		19,059
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total commercial real estate - owner occupied	$	14,693	$	54,547	$	37,625	$	56,410	$	86,551	$	135,558	$	—	$	—	$	385,384
Gross charge-offs for the six months ended	$	—	$	—	$	—	$	185	$	—	$	6	$	—	$	—	$	191
Commercial
Risk rating
Pass (Grades 1-6)	$	61,895	$	81,449	$	27,157	$	48,714	$	23,527	$	67,044	$	141,414	$	35,027	$	486,227
Special mention (Grade 7)	—		511		—		—		—		—		415		199		1,125
Substandard (Grade 8)	—		114		540		1,901		300		963		2,012		1,734		7,564
Doubtful (Grade 9)	—		2,500		—		—		—		—		7,909		1,558		11,967
Total commercial	$	61,895	$	84,574	$	27,697	$	50,615	$	23,827	$	68,007	$	151,750	$	38,518	$	506,883
Gross charge-offs for the six months ended	$	—	$	34	$	498	$	76	$	—	$	568	$	59	$	10	$	1,245
Residential Real Estate
Risk rating
Pass (Grades 1-6)	$	76,945	$	141,889	$	149,499	$	570,060	$	565,688	$	507,474	$	426	$	1,691	$	2,013,672
Special mention (Grade 7)	—		—		—		—		—		—		—		—		—
Substandard (Grade 8)	—		—		—		1,188		1,176		2,296		—		—		4,660
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total residential real estate	$	76,945	$	141,889	$	149,499	$	571,248	$	566,864	$	509,770	$	426	$	1,691	$	2,018,332
Gross charge-offs for the six months ended	$	—	$	—	$	—	$	—	$	—	$	4	$	—	$	—	$	4
Home equity
Risk rating
Performing	$	1,006	$	4,589	$	15,223	$	20,008	$	574	$	12,987	$	225,961	$	16,781	$	297,129
Non-performing	—		—		—		—		—		37		599		198		834
Total home equity	$	1,006	$	4,589	$	15,223	$	20,008	$	574	$	13,024	$	226,560	$	16,979	$	297,963
Gross charge-offs for the six months ended	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	3	$	3
Consumer
Risk rating
Performing	$	2,781	$	3,708	$	4,372	$	2,640	$	700	$	2,350	$	1,657	$	—	$	18,208
Non-performing	—		—		4		—		—		2		—		—		6
Total consumer	$	2,781	$	3,708	$	4,376	$	2,640	$	700	$	2,352	$	1,657	$	—	$	18,214
Gross charge-offs for the six months ended	$	—	$	—	$	35	$	6	$	—	$	—	$	53	$	7	$	101


(In thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of and for the year ended December 31, 2024
Commercial real estate - non-owner-occupied
Risk rating:
Pass (Grades 1-6)	$	91,377	$	107,607	$	324,743	$	285,862	$	140,686	$	390,527	$	—	$	—	$	1,340,802
Special mention (Grade 7)	—		—		—		—		342		225		—		—		567
Substandard (Grade 8)	—		195		25,252		—		—		20,436		—		—		45,883
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total commercial real estate - non-owner-occupied	$	91,377	$	107,802	$	349,995	$	285,862	$	141,028	$	411,188	$	—	$	—	$	1,387,252
Gross charge-offs for the year ended	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - owner-occupied
Risk rating:
Pass (Grades 1-6)	$	53,436	$	31,141	$	48,633	$	71,629	$	19,582	$	89,092	$	—	$	—	$	313,513
Special mention (Grade 7)	—		—		—		1,900		—		304		—		—		2,204
Substandard (Grade 8)	—		540		822		191		—		7,442		—		—		8,995
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total commercial real estate - owner-occupied	$	53,436	$	31,681	$	49,455	$	73,720	$	19,582	$	96,838	$	—	$	—	$	324,712
Gross charge-offs for the year ended	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial
Risk rating:
Pass (Grades 1-6)	$	81,815	$	26,918	$	44,283	$	30,134	$	16,644	$	23,014	$	115,795	$	37,211	$	375,814
Special mention (Grade 7)	534		—		—		—		—		—		282		—		816
Substandard (Grade 8)	—		1,030		706		159		125		1,175		984		1,976		6,155
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total commercial	$	82,349	$	27,948	$	44,989	$	30,293	$	16,769	$	24,189	$	117,061	$	39,187	$	382,785
Gross charge-offs for the year ended	$	—	$	146	$	47	$	54	$	89	$	1,017	$	357	$	74	$	1,784
Residential Real Estate
Risk rating:
Pass (Grades 1-6)	$	133,856	$	151,020	$	500,756	$	502,285	$	204,756	$	255,104	$	406	$	1,175	$	1,749,358
Special mention (Grade 7)	—		—		—		—		—		—		—		—		—
Substandard (Grade 8)	—		—		—		778		—		2,113		—		—		2,891
Doubtful (Grade 9)	—		—		—		—		—		—		—		—		—
Total residential real estate	$	133,856	$	151,020	$	500,756	$	503,063	$	204,756	$	257,217	$	406	$	1,175	$	1,752,249
Gross charge-offs for the year ended	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Home equity
Risk rating:
Performing	$	3,708	$	13,961	$	20,003	$	439	$	302	$	13,378	$	185,581	$	15,448	$	252,820
Non-performing	—		—		—		—		—		—		264		159		423
Total home equity	$	3,708	$	13,961	$	20,003	$	439	$	302	$	13,378	$	185,845	$	15,607	$	253,243
Gross charge-offs for the year ended	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	1
Consumer
Risk rating:
Performing	$	4,307	$	3,188	$	2,784	$	1,080	$	380	$	2,102	$	1,151	$	—	$	14,992
Non-performing	—		—		15		—		—		3		—		—		18
Total consumer	$	4,307	$	3,188	$	2,799	$	1,080	$	380	$	2,105	$	1,151	$	—	$	15,010
Gross charge-offs for the year ended	$	—	$	47	$	18	$	14	$	5	$	—	$	14	$	—	$	98

Past Due and Non-Accrual Loans

The Company closely monitors the performance of its loan portfolio. A loan is placed on non-accrual status when the financial condition of the borrower is deteriorating, payment in full of both principal and interest is not expected as scheduled, or principal or interest has been in default for 90 days or more. Exceptions may be made if the asset is secured by collateral sufficient to satisfy both the principal and accrued interest in full and collection is reasonably assured. When one loan to a borrower is placed on non-accrual status, all other loans to the borrower are re-evaluated to determine if they should also be placed on non-accrual status. All previously accrued and unpaid interest is reversed at this time. A loan will return to accrual status when collection of principal and interest is assured and the borrower has demonstrated timely payments of principal and interest for a reasonable period, generally at least six months. Unsecured loans, however, are not normally placed on non-accrual status because they are generally charged-off once their collectability is in doubt.

The following is a loan aging analysis by portfolio segment (including loans past due over 90 days and non-accrual loans) and loans past due over 90 days and accruing as of the following dates:


(In thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Loans Outstanding		Loans > 90 Days Past Due and Accruing
June 30, 2025
Commercial real estate - non-owner-occupied	$	—	$	28	$	128	$	156	$	1,704,437	$	1,704,593	$	—
Commercial real estate - owner-occupied	903		190		8		1,101		384,283		385,384
Commercial	788		687		1,008		2,483		504,400		506,883		—
Residential real estate	813		1,529		1,159		3,501		2,014,831		2,018,332		—
Home equity	473		121		403		997		296,966		297,963		—
Consumer	106		28		2		136		18,078		18,214		—
Total	$	3,083	$	2,583	$	2,708	$	8,374	$	4,922,995	$	4,931,369	$	—
December 31, 2024
Commercial real estate - non-owner-occupied	$	59	$	—	$	130	$	189	$	1,387,063	$	1,387,252	$	—
Commercial real estate - owner-occupied	85		545		430		1,060		323,652		324,712		—
Commercial	373		265		1,548		2,186		380,599		382,785		—
Residential real estate	333		333		974		1,640		1,750,609		1,752,249		—
Home equity	428		141		125		694		252,557		253,251		—
Consumer	55		13		18		86		14,924		15,010		—
Total	$	1,333	$	1,297	$	3,225	$	5,855	$	4,109,404	$	4,115,259	$	—

The following table presents the amortized cost basis of loans on non-accrual status by portfolio segment as of the dates indicated:


	June 30 2025						December 31 2024
(In thousands)	Non-Accrual Loans With an Allowance		Non-Accrual Loans Without an Allowance		Total Non-Accrual Loans		Non-Accrual Loans With an Allowance		Non-Accrual Loans Without an Allowance		Total Non-Accrual Loans
Commercial real estate - non-owner-occupied	$	127	$	—	$	127	$	129	$	—	$	129
Commercial real estate - owner-occupied	18		—		18		430		—		430
Commercial	13,514		—		13,514		1,927		—		1,927
Residential real estate	3,678		—		3,678		1,891

CAMDEN NATIONAL CORP 10-Q