Earnings

CAMDEN – Robert W. Daigle, president and chief executive officer of Camden National Corp., announced the company reported second quarter earnings per share, on a fully diluted basis, of 52 cents compared to 49 cents reported for the second quarter of 2001. When excluding income from the sale of securities and derivative instruments, fully diluted earnings per share for the second quarter of 2002 would have been 51 cents compared to 44 cents for the second quarter of 2001, an increase of 15.9 percent.

Total assets of the company at June 30 were $1.2 billion, approximately 10 percent higher than total assets at June 30, 2001, primarily reflecting increases in the investment portfolio of $46.2 million and $45.8 million in federal funds sold by the company’s subsidiary banks.