Earnings

CAMDEN – Camden National Corp., the parent company of Camden National Bank, had a net income of $5.3 million for the second quarter of 2006, the firm indicated Tuesday in a written statement.

This represents a decrease of $0.2 million or 3.6 percent from the same period last year.

A recent repurchase of stock helped the company record earnings of 75 cents per share for the second quarter of 2006.

A $1.5 million judgment against the bank in 2004 that resulted from a lawsuit brought by Steamship Navigation Co. is a factor that has adversely affected the bank’s earnings so far this year, the statement indicated. Other factors include interest costs of $437,000 associated with the issuance of trust preferred securities and $106,000 in expenses incurred as part of the consolidation of Camden National Bank and United Kingfield Bank.