CNC Named Among Top Mid-Tier Banks in U.S.
Camden National Corporation ranked 20th in USBanker's list of top-performing mid-tier banks - 6/5/2008
CAMDEN, Maine, June 5, 2008 - For the sixth consecutive year, Camden National Corporation (NASDAQ®: CAC; the "Company") has been ranked among the top 200 publicly traded mid-tier banks nationwide, according to the May 2008 edition of USBanker.
USBanker's annual ranking measures publicly traded banks, with between $1 billion and $5.99 billion in assets, on three-year average return on equity (ROE). For the period ending December 31, 2007, Camden National Corporation's three-year average ROE of 17.91% places the Company 20th in this annual ranking. This is an improvement from 28th at the end of 2006, 35th at the end of 2005, 52nd in 2004, 59th in 2003, and 74th in 2002. By placing 20th, Camden National Corporation is currently USBanker's highest-ranking mid-tier bank in Maine and all of New England.
"We are very pleased to continue to receive national recognition for the Company's top performance," notes Camden National Corporation President and Chief Executive Officer Robert W. Daigle. "Inclusion in this annual ranking in USBanker broadens the exposure of Camden National Corporation to a wide range of customers and investors alike who value community banking and appreciate our commitment to provide the best in service and efficiency. The resulting financial performance enables our Company to sustain its desire for independence in spite of continuing bank consolidation and a dwindling number of publicly traded financial services companies owned and operated in the State of Maine."
Camden National Corporation, ranked in the top 20 in USBanker's 2008 list of top-performing mid-tier banks, headquartered in Camden, Maine, and listed on the NASDAQ® Global Select Market ("NASDAQ") under the symbol CAC, is the holding company employing 440 Maine residents for two financial services companies including Camden National Bank (CNB), a full-service community bank with a network of 37 banking offices serving coastal, western, central, and eastern Maine, and Acadia Trust, N.A., offering investment management and fiduciary services with offices in Portland, Bangor, and Ellsworth. Acadia Financial Consultants is a division of CNB, offering full-service brokerage services.
Statements in this news release concerning future results, performance, expectations or intentions are forward-looking statements. Actual results, performance or developments may differ materially from forward-looking statements as a result of known or unknown risks, uncertainties, and other factors, including those identified from time to time in the Company's other filings with the Securities and Exchange Commission, press releases and other communications. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of said safe harbor provisions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Except as required by applicable law or regulation, the Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
