Camden National earnings up 6.9%

CAMDEN – Robert W. Daigle, president and chief executive officer of Camden National Corp., has announced third quarter 2006 earnings of $0.77 per share, up 6.9 percent from $0.72 for the third quarter of 2005. Net income for the quarter ended September 30, 2006, was $5.1 million versus $5.5 million recorded during the same period a year ago.

“While we are pleased that the successful completion of the second quarter ‘Dutch Auction’ tender offer is having its expected beneficial effect on the company’s earnings per share,” said Daigle, “we remain very much focused on our core operating activities and how best to mitigate the stress being placed on the company’s net interest margin.”

The company’s total assets as of Sept. 30, 2006, were $1.7 billion, an increase of 5.7 percent over total assets at September 30, 2005. Net loans as of Sept. 30, 2006, were $1.2 billion, up 6.9 percent over net loans at September 30, 2005. Total deposits of $1.2 billion were up 8.0 percent over the same period a year ago.