Camden National Corporation Reports Increased Earnings of $.97 per Share

Camden National Corporation CAC reported net income of $7.4 million for the three months ended September 30, 2010 compared to $6.3 million in the third quarter of 2009 and $5.6 million in the second quarter of 2010. Net income for the third quarter of 2010 compared to the same period a year ago increased $1.1 million or 18%. Earnings per diluted share for the third quarter of 2010 were $0.97 compared to $0.83 for the same period last year and $0.73 in the previous quarter. For the third quarter of 2010, return on average assets was 1.29% and return on average equity was 14.66%. Net income for the nine months ended September 30, 2010 was $18.3 million, an increase of 5% compared to $17.5 million for the same period in 2009. The return on average assets and average equity for the nine months ended September 30, 2010 was 1.08% and 12.43%, respectively.