CAMDEN – Camden National Corp., a bank holding company with 50 branches in Maine, said third-quarter net income fell.
Third-quarter net income totaled $6.3 million, or 82 cents a share, compared with net income of $6.9 million or 90 cents a share, for the year-ago quarter.
The company recently acquired 15 Bank of America branches and divested one due to Department of Justice requirements.
“Expanding and strengthening our geographic footprint is just one important aspect of the branch acquisition. Also of strategic importance is the welcoming of approximately 30,000 new customer relationships to our organization, which will allow us to better leverage the entire franchise to benefit both customers and shareholders,” Camden National Chief Executive Gregory Dufour said.
For the third quarter, total deposits increased to $1.7 billion from $1.6 billion a year ago. Total assets increased to $2.5 billion from $2.3 billion a year ago.
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