Camden National reports second quarter results



CAMDEN — Camden National Corp. recently reported net income for the second quarter of 2013 of $6.3 million and diluted earnings per share of 82 cents.

The net income results of the second quarter of 2013 represent an increase of $669,000, or 12 percent, compared to the first three months of 2013.

For the second quarter of 2013, the company achieved a return on assets of 0.98 percent, a return on tangible equity of 13.78 percent and an efficiency ratio of 60.30 percent.

Total assets were $2.6 billion at June 30, 2013, representing a $37.0 million increase since year’s end. The growth in total assets was primarily due to an increase in loans (excluding loans held for sale), which grew by $38.7 million.

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Fenceviewer Staff

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