Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit and commercial customers. As of December 31, 2015, the company had 64 branches and 85 ATMs located throughout Maine, and 3 loan offices located in Maine, New Hampshire and Massachusetts. The company had operations within 13 of Maine's 16 counties. The company provides brokerage and insurance services through Camden Financial Consultants (Camden Financial), a division of bank. Camden Financial engages in the business of helping clients meet all of their financial needs by using a total wealth management approach. Its financial offerings include college, retirement, and estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. The company offers its products and services across Maine, and focuses primarily on attracting deposits from the general public through its branches, and then leveraging this relationship to originate residential mortgage loans, commercial business loans, commercial real estate loans and various consumer loans across New England. Customers might also access its products and services using other channels, including its Website, www.CamdenNational.com. The company also offers investment management and fiduciary services through its subsidiary, Acadia Trust, N.A. (Acadia Trust), a federally-regulated, non-depository trust company headquartered in Portland, Maine. Acadia Trust provides a range of trust, trust-related, investment and wealth management services to both individual and institutional clients. Acadia Trust offers high net worth individuals, businesses and non-profit institutional customers investment management services, as well as serving as trustee. Residential Real Estate Loans: Residential real estate loans consist of loans secured by one-to four-family residences. The company generally retains in its portfolio adjustable rate mortgages and fixed rate mortgages with original terms of 20 years or less. Commercial Real Estate Loans: Commercial real estate loans consist of loans secured by income and non-income producing commercial real estate. The company focuses on lending to financially sound business customers primarily within its geographic marketplace, as well as offering loans for the acquisition, development and construction of commercial real estate. Commercial Loans: Commercial loans consist of loans secured by various corporate assets, as well as loans to provide working capital in the form of lines of credit, which might be secured or unsecured. Municipal loans primarily consist of short-term tax anticipation notes made to municipalities for fixed asset or construction-related purposes and are included in commercial loans. The company focuses on lending to financially sound business customers and municipalities within its geographic marketplace. Consumer Loans and Home Equity Loans: Consumer loans and home equity loans are originated for various purposes designed to meet the needs of its customers. Consumer loans include overdraft protection, automobile, boat, recreational vehicle, and mobile home loans, home equity loans and lines, and secured and unsecured personal loans. Significant Events In February 2016, operations at Healthcare Professional Funding Corporation (the bank’s wholly-owned subsidiary) were closed. Investment Portfolio As of December 31, 2015, the company’s investment portfolio included obligations of U.S. government sponsored enterprises; obligations of states and political subdivisions; mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises; collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises; subordinated corporate bonds; and equity securities. Deposits As of December 31, 2015, the company’s deposits included demand; interest checking; savings and money market; certificates of deposit; and brokered deposits. Supervision and Regulation As a bank holding company, the company is subject to reg
camden national corp (CAC:NASDAQ GS)
2 Elm Street
Camden, ME 04843
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