Camden National Named Among Top Mid-Tier Banks in U.S.
Camden National Corporation ranked 11th in USBanker's list of top-performing mid-tier banks - 9/10/2009
CAMDEN, Maine, September 10, 2009 — Camden National Corporation has been named the 11th best performing mid-tier bank in the nation by USBanker magazine. As well, for the seventh consecutive year, Camden National Corporation (NASDAQ®: CAC; the “Company”) has been ranked among the top 100 publicly traded mid-tier banks nationwide. Camden National Corporation, the parent company of Camden National Bank and Acadia Trust, N.A. is the only independent, Maine-based bank named in the top 100.
“We are very pleased that our performance has been recognized by USBanker,” notes Camden National Corporation President and Chief Executive Officer Gregory A. Dufour. “Our success can be attributed to our dedicated employees, loyal customers and shareholders who share in our dedication to provide community banking in the State of Maine.”
USBanker's annual ranking measures publicly traded banks, with between $2 billion and $10 billion in assets, on three-year average return on equity (ROE). For the period ending December 31, 2008, Camden National Corporation's three-year average ROE of 15.30% places the Company 11th in this annual ranking. This is an improvement from 20th at the end of 2007, 28th in 2006, 35th in 2005, 52nd in 2004, 59th in 2003, and 74th in 2002. By placing 11th, Camden National Corporation is currently US Banker's highest-ranking mid-tier bank in Maine and all of New England.
Camden National Corporation, headquartered in Camden, Maine, and listed on the NASDAQ® Global Select Market (“NASDAQ”) under the symbol CAC, is the holding company employing more than 400 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. Located at Camden National Bank, Acadia Financial Consultants offers full-service brokerage and insurance 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.
