Camden National Corp 8-K, filed Oct 27, 2026

Camden National Corp (CAC)

8-K 2026-10-27 For: 2026-10-27

Added on October 27, 2026

About this 8-K

Camden National Corp filed this 8-K on October 27, 2026.

Camden National Corporation reported net income of $22.8 million and diluted EPS of $1.34 for the quarter ended September 30, 2026; net interest margin expanded 15 basis points to 3.41%, and deposits grew 5%. It also announced a $0.42 per share dividend. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Maine	001-13227		01-0413282
(State or other jurisdiction of incorporation)	(Commission File Number)		(IRS Employer Identification No.)

Two Elm Street	Camden	Maine	04843
(Address of principal executive offices)			(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, without par value	CAC	The NASDAQ Stock Market LLC


Exhibit No.			Description
99.1			Press release announcing earnings for the fiscal quarter ended September 30, 2026.
101			Cover Page Interactive Data - the cover page XBRL tags are embedded within the Inline XBRL document.
104			Cover Page Interactive Data File - Included in Exhibit 101.


			CAMDEN NATIONAL CORPORATION (Registrant)


			By:			/s/ MICHAEL R. ARCHER
						Michael R. Archer Chief Financial Officer and Principal Financial & Accounting Officer


	At or For The Three Months Ended									At or For The Nine Months Ended
(In thousands, except number of shares and per share data)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Financial Condition Data

Loans	$	5,002,228		$	5,004,468		$	5,002,927		$	5,002,228		$	5,002,927

Total assets	7,053,049			6,950,980			6,981,522			7,053,049			6,981,522
Deposits	5,849,336			5,555,104			5,402,758			5,849,336			5,402,758

Shareholders' equity	720,641			725,926			676,444			720,641			676,444
Operating Data and Per Share Data
Net income	$	22,821		$	23,021		$	21,194		$	67,725		$	42,601

Pre-tax, pre-provision income (non-GAAP)(1)	31,173			30,051			29,470			89,854			69,753

Diluted EPS	1.34			1.35			1.25			3.98			2.51










Profitability Ratios
Return on average assets	1.31		%	1.33		%	1.21		%	1.31		%	0.82		%

Return on average equity	12.36		%	12.92		%	12.75		%	12.62		%	8.86		%

Return on average tangible equity (non-GAAP)(1)	17.47		%	18.47		%	19.12		%	18.03		%	13.82		%

GAAP efficiency ratio	54.60		%	55.42		%	54.94		%	55.17		%	62.84		%
Efficiency ratio (non-GAAP)(1)	52.44		%	53.23		%	52.47		%	52.95		%	55.47		%
Net interest margin (fully-taxable equivalent)	3.41		%	3.26		%	3.16		%	3.30		%	3.09		%
Core net interest margin (fully-taxable equivalent) (non-GAAP)(1)	3.10		%	2.97		%	2.82		%	3.00		%	2.73		%
Asset Quality Ratios
ACL on loans to total loans	0.92		%	0.91		%	0.91		%	0.92		%	0.91		%
Non-performing loans to total loans	0.16		%	0.24		%	0.17		%	0.16		%	0.17		%



Capital Ratios
Common equity ratio	10.22		%	10.44		%	9.69		%	10.22		%	9.69		%
Tangible common equity ratio (non-GAAP)(1)	7.73		%	7.91		%	7.09		%	7.73		%	7.09		%
Book value per share	$	42.65		$	42.96		$	39.97		$	42.65		$	39.97
Tangible book value per share (non-GAAP)(1)	$	31.40		$	31.64		$	28.42		$	31.40		$	28.42
Tier 1 leverage capital ratio	9.92		%	9.66		%	8.94		%	9.92		%	8.94		%


Total risk-based capital ratio	14.82		%	14.43		%	13.47		%	14.82		%	13.47		%


(In thousands)	September 30, 2026		June 30, 2026		September 30, 2025		% Change Sep 2026 vs. Jun 2026		% Change Sep 2026 vs. Sep 2025
ASSETS
Cash, cash equivalents and restricted cash	$	248,570	$	99,900	$	98,848	149	%	151	%
Investments:
Trading securities	5,120		4,948		5,581		3	%	(8)	%
Available-for-sale securities, at fair value	869,951		892,153		889,765		(2)	%	(2)	%
Held-to-maturity securities, at amortized cost	442,568		463,318		495,007		(4)	%	(11)	%
Other investments	15,259		23,433		31,185		(35)	%	(51)	%
Total investments	1,332,898		1,383,852		1,421,538		(4)	%	(6)	%
Loans held for sale, at fair value	6,355		13,890		9,775		(54)	%	(35)	%
Loans:
Commercial real estate	2,154,943		2,191,102		2,173,748		(2)	%	(1)	%
Commercial	417,924		431,211		479,461		(3)	%	(13)	%
Residential real estate	2,021,365		1,997,226		2,017,675		1	%	—	%
Home equity	392,032		367,818		313,951		7	%	25	%
Consumer	15,964		17,111		18,092		(7)	%	(12)	%
Total loans	5,002,228		5,004,468		5,002,927		—	%	—	%
Less: allowance for credit losses on loans	(46,217)		(45,604)		(45,501)		1	%	2	%
Net loans	4,956,011		4,958,864		4,957,426		—	%	—	%
Goodwill and core deposit intangible assets	190,023		191,377		195,558		(1)	%	(3)	%
Other assets	319,192		303,097		298,377		5	%	7	%
Total assets	$	7,053,049	$	6,950,980	$	6,981,522	1	%	1	%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits:
Non-interest checking	$	1,183,481	$	1,080,352	$	1,162,149	10	%	2	%
Interest checking	1,914,395		1,755,545		1,535,482		9	%	25	%
Savings and money market	2,065,050		1,995,303		1,879,770		3	%	10	%
Certificates of deposit	605,912		632,355		701,031		(4)	%	(14)	%
Brokered deposits	80,498		91,549		124,326		(12)	%	(35)	%
Total deposits	5,849,336		5,555,104		5,402,758		5	%	8	%
Short-term borrowings	311,691		508,386		748,492		(39)	%	(58)	%
Long-term borrowings	1,000		1,000		1,000		—	%	—	%
Junior subordinated debentures	61,740		61,665		61,441		—	%	—	%
Accrued interest and other liabilities	108,641		98,899		91,387		10	%	19	%
Total liabilities	6,332,408		6,225,054		6,305,078		2	%	—	%
Commitments and Contingencies
Shareholders’ Equity
Common stock, no par value	213,795		213,018		215,145		—	%	(1)	%
Retained earnings	591,507		575,804		529,721		3	%	12	%
Accumulated other comprehensive loss:
Net unrealized loss on debt securities, net of tax	(93,704)		(70,070)		(74,348)		34	%	26	%
Net unrealized gain on cash flow hedging derivative instruments, net of tax	8,536		6,656		5,532		28	%	54	%
Net unrecognized gain on postretirement plans, net of tax	507		518		394		(2)	%	29	%
Total accumulated other comprehensive loss	(84,661)		(62,896)		(68,422)		35	%	24	%
Total shareholders’ equity	720,641		725,926		676,444		(1)	%	7	%
Total liabilities and shareholders’ equity	$	7,053,049	$	6,950,980	$	6,981,522	1	%	1	%


	For The Three Months Ended
(In thousands, except per share data)	September 30, 2026		June 30, 2026		September 30, 2025		% Change Sep 2026 vs. Jun 2026		% Change Sep 2026 vs. Sep 2025
Interest Income
Interest and fees on loans	$	69,111	$	67,258	$	69,070	3	%	—	%
Taxable interest on investments	10,002		10,245		10,314		(2)	%	(3)	%
Nontaxable interest on investments	457		451		456		1	%	—	%
Dividend income	296		377		470		(21)	%	(37)	%
Other interest income	653		660		584		(1)	%	12	%
Total interest income	80,519		78,991		80,894		2	%	—	%
Interest Expense
Interest on deposits	22,716		22,305		24,719		2	%	(8)	%
Interest on borrowings	1,467		2,843		4,039		(48)	%	(64)	%
Interest on junior subordinated debentures	917		904		864		1	%	6	%
Total interest expense	25,100		26,052		29,622		(4)	%	(15)	%
Net interest income	55,419		52,939		51,272		5	%	8	%
Provision for credit losses	1,893		710		2,972		167	%	(36)	%
Net interest income after provision for credit losses	53,526		52,229		48,300		2	%	11	%
Non-Interest Income
Debit card income	3,887		3,786		3,704		3	%	5	%
Service charges on deposit accounts	2,656		2,701		2,570		(2)	%	3	%
Income from fiduciary services	2,081		2,220		1,884		(6)	%	10	%
Brokerage and insurance commissions	1,970		2,029		1,850		(3)	%	6	%
Bank-owned life insurance	714		1,244		957		(43)	%	(25)	%
Mortgage banking income, net	666		1,161		1,092		(43)	%	(39)	%

Other income	1,272		1,329		2,068		(4)	%	(38)	%
Total non-interest income	13,246		14,470		14,125		(8)	%	(6)	%
Non-Interest Expense
Salaries and employee benefits	21,009		20,030		20,089		5	%	5	%
Furniture, equipment and data processing	4,891		4,791		4,173		2	%	17	%
Net occupancy costs	2,761		2,789		2,666		(1)	%	4	%
Debit card expense	1,777		1,690		1,745		5	%	2	%
Amortization of core deposit intangible assets	1,354		1,354		1,473		—	%	(8)	%
Consulting and professional fees	888		1,405		810		(37)	%	10	%
Regulatory assessments	883		862		1,020		2	%	(13)	%
Other real estate owned and collection (recoveries) costs, net	(11)		3		46		N.M.		N.M.
Merger and acquisition costs	—		—		315		N.M.		N.M.
Other expenses	3,940		4,434		3,590		(11)	%	10	%
Total non-interest expense	37,492		37,358		35,927		—	%	4	%
Income before income tax expense	29,280		29,341		26,498		—	%	10	%
Income Tax Expense	6,459		6,320		5,304		2	%	22	%
Net Income	$	22,821	$	23,021	$	21,194	(1)	%	8	%
Per Share Data
Basic earnings per share	$	1.36	$	1.36	$	1.25	—	%	9	%
Diluted earnings per share	$	1.34	$	1.35	$	1.25	(1)	%	7	%


	For the Nine Months Ended
(In thousands, except per share data)	September 30, 2026		September 30, 2025		% Change Sep 2026 vs. Sep 2025
Interest Income
Interest and fees on loans	$	203,048	$	203,096	—	%
Taxable interest on investments	30,543		30,343		1	%
Nontaxable interest on investments	1,363		1,379		(1)	%
Dividend income	1,086		1,483		(27)	%
Other interest income	1,841		2,311		(20)	%
Total interest income	237,881		238,612		—	%
Interest Expense
Interest on deposits	66,669		73,934		(10)	%
Interest on borrowings	7,786		12,677		(39)	%
Interest on junior subordinated debentures	2,710		2,662		2	%
Total interest expense	77,165		89,273		(14)	%
Net interest income	160,716		149,339		8	%
Provision for credit losses	3,156		19,321		N.M.
Net interest income after provision for credit losses	157,560		130,018		21	%
Non-Interest Income
Debit card income	11,095		10,583		5	%
Service charges on deposit accounts	7,515		7,293		3	%
Income from fiduciary services	6,315		5,703		11	%
Brokerage and insurance commissions	5,734		5,341		7	%
Bank-owned life insurance	2,749		2,620		5	%
Mortgage banking income, net	2,655		2,660		—	%

Other income	3,633		4,188		(13)	%
Total non-interest income	39,696		38,388		3	%
Non-Interest Expense
Salaries and employee benefits	60,654		59,724		2	%
Furniture, equipment and data processing	14,326		13,198		9	%
Net occupancy costs	8,609		8,392		3	%
Debit card expense	5,083		5,160		(1)	%
Amortization of core deposit intangible assets	4,062		4,419		(8)	%
Consulting and professional fees	3,214		3,618		(11)	%
Regulatory assessments	2,652		3,133		(15)	%
Other real estate owned and collection (recoveries) costs, net	(2)		227		(101)	%
Merger and acquisition costs	—		9,245		N.M.
Other expenses	11,960		10,858		10	%
Total non-interest expense	110,558		117,974		(6)	%
Income before income tax expense	86,698		50,432		72	%
Income Tax Expense	18,973		7,831		142	%
Net Income	$	67,725	$	42,601	59	%
Per Share Data
Basic earnings per share	$	4.01	$	2.52	59	%
Diluted earnings per share	$	3.98	$	2.51	59	%


	Average Balance								Yield/Rate
	For The Three Months Ended								For The Three Months Ended
(Dollars in thousands)	September 30, 2026		June 30, 2026		September 30, 2025				September 30, 2026				June 30, 2026				September 30, 2025
Assets
Interest-earning assets:
Interest-bearing deposits in other banks and other interest-earning assets	$	50,351	$	53,143	$	38,170			4.08	%			3.81	%			4.45	%
Investments - taxable	1,333,039		1,369,968		1,380,042				3.13	%			3.14	%			3.17	%
Investments - nontaxable(1)	60,591		60,631		61,114				3.82	%			3.77	%			3.77	%
Loans(2):
Commercial real estate	2,175,981		2,186,127		2,123,138				5.68	%			5.62	%			5.72	%
Commercial(1)	373,930		368,331		398,870				6.06	%			6.08	%			6.26	%
Municipal(1)	51,169		52,139		97,113				4.82	%			4.63	%			4.76	%
Residential real estate	2,015,870		2,004,972		2,033,136				4.87	%			4.74	%			4.86	%
Home equity	379,346		354,025		305,140				6.55	%			6.66	%			7.27	%
Consumer	16,536		16,542		18,613				9.64	%			10.38	%			9.17	%
Total loans	5,012,832		4,982,136		4,976,010				5.45	%			5.38	%			5.50	%
Total interest-earning assets	6,456,813		6,465,878		6,455,336				4.95	%			4.88	%			4.98	%
Other assets	479,844		467,752		469,590
Total assets	$	6,936,657	$	6,933,630	$	6,924,926

Liabilities & Shareholders' Equity
Deposits:
Non-interest checking	$	1,149,238	$	1,078,793	$	1,163,310			—	%			—	%			—	%
Interest checking	1,781,772		1,753,513		1,622,869				1.70	%			1.69	%			1.82	%
Savings	1,246,325		1,166,720		1,011,847				1.54	%			1.49	%			1.34	%
Money market	788,461		792,802		842,043				2.39	%			2.34	%			2.69	%
Certificates of deposit	621,383		641,532		698,948				2.98	%			3.01	%			3.50	%
Total deposits	5,587,179		5,433,360		5,339,017				1.55	%			1.56	%			1.69	%
Borrowings:
Brokered deposits	84,182		114,043		176,508				3.92	%			4.01	%			4.51	%
Customer repurchase agreements	246,169		269,272		246,775				0.86	%			0.84	%			1.18	%
Junior subordinated debentures	61,694		61,624		61,404				5.90	%			5.89	%			5.58	%
Other borrowings	129,257		258,621		354,099				2.86	%			3.54	%			3.70	%
Total borrowings	521,302		703,560		838,786				2.45	%			2.79	%			3.27	%
Total funding liabilities	6,108,481		6,136,920		6,177,803				1.63	%			1.70	%			1.90	%
Other liabilities	95,493		81,941		87,495
Shareholders' equity	732,683		714,769		659,628
Total liabilities & shareholders' equity	$	6,936,657	$	6,933,630	$	6,924,926
Net interest rate spread (fully-taxable equivalent)							3.32	%			3.18	%			3.08	%
Net interest margin (fully-taxable equivalent)							3.41	%			3.26	%			3.16	%
Core net interest margin (fully-taxable equivalent)(3)							3.10	%			2.97	%			2.82	%


	Average Balance						Yield/Rate
	For The Nine Months Ended				For The Nine Months Ended
(Dollars in thousands)	September 30, 2026		September 30, 2025				September 30, 2026				September 30, 2025
Assets
Interest-earning assets:
Interest-bearing deposits in other banks and other interest-earning assets	$	45,350	$	55,276			4.12	%			4.44	%
Investments - taxable	1,365,983		1,384,151				3.13	%			3.11	%
Investments - nontaxable(1)	60,785		61,547				3.79	%			3.78	%
Loans(2):
Commercial real estate	2,181,772		2,088,486				5.64	%			5.71	%
Commercial(1)	367,620		405,140				6.08	%			6.27	%
Municipal(1)	51,460		90,161				4.87	%			5.20	%
Residential real estate	2,013,216		2,035,004				4.79	%			4.80	%
Home equity	356,811		293,086				6.62	%			7.26	%
Consumer	16,615		18,938				9.82	%			9.15	%
Total loans	4,987,494		4,930,815				5.41	%			5.48	%
Total interest-earning assets	6,459,612		6,431,789				4.90	%			4.94	%
Other assets	475,040		472,744
Total assets	$	6,934,652	$	6,904,533

Liabilities & Shareholders' Equity
Deposits:
Non-interest checking	$	1,105,606	$	1,124,809			—	%			—	%
Interest checking	1,739,740		1,653,975				1.67	%			1.84	%
Savings	1,176,411		956,006				1.48	%			1.18	%
Money market	798,694		869,446				2.35	%			2.66	%
Certificates of deposit	642,660		702,929				3.05	%			3.60	%
Total deposits	5,463,111		5,307,165				1.55	%			1.70	%
Borrowings:
Brokered deposits	108,969		193,634				3.98	%			4.55	%
Customer repurchase agreements	257,315		239,286				0.88	%			1.26	%
Junior subordinated debentures	61,622		61,337				5.88	%			5.80	%
Other borrowings	236,861		366,814				3.44	%			3.80	%
Total borrowings	664,767		861,071				2.76	%			3.41	%
Total funding liabilities	6,127,878		6,168,236				1.68	%			1.94	%
Other liabilities	89,078		93,096
Shareholders' equity	717,696		643,201
Total liabilities & shareholders' equity	$	6,934,652	$	6,904,533
Net interest rate spread (fully-taxable equivalent)					3.22	%			3.00	%
Net interest margin (fully-taxable equivalent)							3.30	%			3.09	%
Core net interest margin (fully-taxable equivalent)(3)					3.00	%			2.73	%


(In thousands)	At or for the Nine Months Ended September 30, 2026			At or for the Six Months Ended June 30, 2026			At or for the Three Months Ended March 31, 2026			At or for the Year Ended December 31, 2025			At or for the Nine Months Ended September 30, 2025
Non-accrual loans:
Residential real estate	$	2,828		$	2,715		$	2,252		$	2,667		$	3,393
Commercial real estate	2,247			6,054			5,420			639			134
Commercial	2,480			2,871			2,689			3,042			4,103
Home equity	445			501			596			672			697
Consumer	9			1			2			3			3
Total non-accrual loans	8,009			12,142			10,959			7,023			8,330
Accruing loans past due 90 days	—			—			—			—			—
Total non-performing loans	8,009			12,142			10,959			7,023			8,330
Other real estate owned	—			—			—			—			—
Total non-performing assets	$	8,009		$	12,142		$	10,959		$	7,023		$	8,330
Loans 30-89 days past due:
Residential real estate	$	947		$	1,542		$	772		$	1,565		$	725
Commercial real estate	4,698			2,839			569			5,284			5,014
Commercial	806			2,424			1,350			541			1,865
Home equity	266			424			328			713			456
Consumer	67			46			58			59			37
Total loans 30-89 days past due	$	6,784		$	7,275		$	3,077		$	8,162		$	8,097
ACL on loans at the beginning of the period	$	45,276		$	45,276		$	45,276		$	35,728		$	35,728
ACL established on acquired PCD loans(1)	—			—			—			3,071			3,071
Provision for loan losses	2,800			1,274			806			22,031			19,009
Charge-offs:
Residential real estate	24			24			—			4			4
Commercial real estate	80			—			—			3,220			218
Commercial	2,259			1,229			627			12,659			12,320
Home equity	—			—			—			21			21
Consumer	132			91			43			185			152
Total charge-offs	2,495			1,344			670			16,089			12,715
Total recoveries	(636)			(398)			(164)			(535)			(408)
Net charge-offs	1,859			946			506			15,554			12,307
ACL on loans at the end of the period	$	46,217		$	45,604		$	45,576		$	45,276		$	45,501
Components of ACL:
ACL on loans	$	46,217		$	45,604		$	45,576		$	45,276		$	45,501
ACL on off-balance sheet credit exposures(2)	3,419			3,052			2,810			3,064			3,117
ACL, end of period	$	49,636		$	48,656		$	48,386		$	48,340		$	48,618
Ratios:
Non-performing loans to total loans	0.16		%	0.24		%	0.22		%	0.14		%	0.17		%
Non-performing assets to total assets	0.11		%	0.17		%	0.16		%	0.10		%	0.12		%
ACL on loans to total loans	0.92		%	0.91		%	0.92		%	0.91		%	0.91		%
Net charge-offs to average loans (annualized):
Quarter-to-date	0.07		%	0.04		%	0.04		%	0.26		%	0.89		%
Year-to-date	0.05		%	0.04		%	0.04		%	0.31		%	0.33		%
ACL on loans to non-performing loans	577.06		%	375.59		%	415.88		%	644.68		%	546.23		%
Loans 30-89 days past due to total loans	0.14		%	0.15		%	0.06		%	0.16		%	0.16		%


Adjusted Net Income; Adjusted Diluted Earnings per Share; Adjusted Return on Average Assets; and Adjusted Return on Average Equity:
	For the Three Months Ended									For the Nine Months Ended
(In thousands, except number of shares, per share data and ratios)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Adjusted Net Income:
Net income, as presented	$	22,821		$	23,021		$	21,194		$	67,725		$	42,601
Adjustments before taxes:
Provision for non-PCD acquired loans	—			—			—			—			6,294
Provision for acquired unfunded commitments	—			—			—			—			249
Merger and acquisition costs	—			—			315			—			9,245
Gain on sale of premises and equipment, net	—			—			(675)			—			(675)

Total adjustments before taxes	—			—			(360)			—			15,113
Tax impact of above adjustments, as applicable(1)	—			—			83			—			(3,445)
Adjustment for deferred tax valuation adjustment(2)	—			—			—			—			(2,421)
Adjusted net income	$	22,821		$	23,021		$	20,917		$	67,725		$	51,848

Adjusted Diluted Earnings per Share:
Diluted earnings per share, as presented	$	1.34		$	1.35		$	1.25		$	3.98		$	2.51
Adjustments before taxes:
Provision for non-PCD acquired loans	—			—			—			—			0.37
Provision for acquired unfunded commitments	—			—			—			—			0.01
Merger and acquisition costs	—			—			0.02			—			0.55
Gain on sale of premises and equipment, net	—			—			(0.04)			—			(0.04)

Total adjustments before taxes	—			—			(0.02)			—			0.89
Tax impact of above adjustments, as applicable(1)	—			—			0.01			—			(0.20)
Adjustment for deferred tax valuation adjustment(2)	—			—			—			—			(0.14)
Adjusted diluted earnings per share	$	1.34		$	1.35		$	1.24		$	3.98		$	3.06

Adjusted Return on Average Assets:
Return on average assets, as presented	1.31		%	1.33		%	1.21		%	1.31		%	0.82		%
Adjustments before taxes:
Provision for non-PCD acquired loans	—		%	—		%	—		%	—		%	0.12		%
Provision for acquired unfunded commitments	—		%	—		%	—		%	—		%	0.01		%
Merger and acquisition costs	—		%	—		%	0.02		%	—		%	0.18		%
Gain on sale of premises and equipment, net	—		%	—		%	(0.04)		%	—		%	(0.01)		%

Total adjustments before taxes	—		%	—		%	(0.02)		%	—		%	0.30		%
Tax impact of above adjustments, as applicable(1)	—		%	—		%	—		%	—		%	(0.07)		%
Adjustment for deferred tax valuation adjustment(2)	—		%	—		%	—		%	—		%	(0.05)		%
Adjusted return on average assets	1.31		%	1.33		%	1.19		%	1.31		%	1.00		%

Adjusted Return on Average Equity:
Return on average equity, as presented	12.36		%	12.92		%	12.75		%	12.62		%	8.86		%
Adjustments before taxes:
Provision for non-PCD acquired loans	—		%	—		%	—		%	—		%	1.31		%
Provision for acquired unfunded commitments	—		%	—		%	—		%	—		%	0.05		%
Merger and acquisition costs	—		%	—		%	0.19		%	—		%	1.92		%
Gain on sale of premises and equipment, net	—		%	—		%	(0.41)		%	—		%	(0.14)		%

Total adjustments before taxes	—		%	—		%	(0.22)		%	—		%	3.14		%
Tax impact of above adjustments, as applicable(1)	—		%	—		%	0.05		%	—		%	(0.72)		%
Adjustment for deferred tax valuation adjustment(2)	—		%	—		%	—		%	—		%	(0.50)		%
Adjusted return on average equity	12.36		%	12.92		%	12.58		%	12.62		%	10.78		%


Pre-Tax, Pre-Provision Income and Adjusted Pre-Tax, Pre-Provision Income:
	For the Three Months Ended						For the Nine Months Ended
(In thousands)	September 30, 2026		June 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Net income, as presented	$	22,821	$	23,021	$	21,194	$	67,725	$	42,601
Adjustment for provision for credit losses	1,893		710		2,972		3,156		19,321
Adjustment for income tax expense	6,459		6,320		5,304		18,973		7,831
Pre-tax, pre-provision income	31,173		30,051		29,470		89,854		69,753
Adjustment for merger and acquisition costs	—		—		315		—		9,245
Adjustment for gain on sale of premises and equipment, net	—		—		(675)		—		(675)
Adjusted pre-tax, pre-provision income	$	31,173	$	30,051	$	29,110	$	89,854	$	78,323


Efficiency Ratio:
	For the Three Months Ended									For the Nine Months Ended
(Dollars in thousands)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Non-interest expense, as presented	$	37,492		$	37,358		$	35,927		$	110,558		$	117,974
Adjustment for merger and acquisition costs	—			—			(315)			—			(9,245)
Adjustment for amortization of core deposit intangible assets	(1,354)			(1,354)			(1,473)			(4,062)			(4,419)
Adjusted non-interest expense	$	36,138		$	36,004		$	34,139		$	106,496		$	104,310
Net interest income, as presented	$	55,419		$	52,939		$	51,272		$	160,716		$	149,339
Adjustment for the effect of tax-exempt income(1)	242			229			344			696			982
Adjusted net interest income	55,661			53,168			51,616			161,412			150,321
Non-interest income, as presented	13,246			14,470			14,125			39,696			38,388
Adjustment for gain on sale of premises and equipment, net	—			—			(675)			—			(675)
Adjusted non-interest income	13,246			14,470			13,450			39,696			37,713
Adjusted net interest income plus non-interest income	$	68,907		$	67,638		$	65,066		$	201,108		$	188,034
GAAP efficiency ratio	54.60		%	55.42		%	54.94		%	55.17		%	62.84		%
Non-GAAP efficiency ratio	52.44		%	53.23		%	52.47		%	52.95		%	55.47		%


Return on Average Tangible Equity and Adjusted Return on Average Tangible Equity:
	For the Three Months Ended									For the Nine Months Ended
(Dollars in thousands)	September 30, 2026			June 30, 2026			September 30, 2025			September 30, 2026			September 30, 2025
Return on Average Tangible Equity:
Net income, as presented	$	22,821		$	23,021		$	21,194		$	67,725		$	42,601
Adjustment for amortization of core deposit intangible assets	1,354			1,354			1,473			4,062			4,419
Tax impact of above adjustment(1)	(311)			(311)			(339)			(934)			(1,016)
Net income, adjusted for amortization of core deposit intangible assets	$	23,864		$	24,064		$	22,328		$	70,853		$	46,004
Average equity, as presented	$	732,683		$	714,769		$	659,628		$	717,696		$	643,201
Adjustment for average goodwill and core deposit intangible assets	(190,803)			(192,126)			(196,279)			(192,151)			(198,072)
Average tangible equity	$	541,880		$	522,643		$	463,349		$	525,545		$	445,129
Return on average equity	12.36		%	12.92		%	12.75		%	12.62		%	8.86		%
Return on average tangible equity	17.47		%	18.47		%	19.12		%	18.03		%	13.82		%
Adjusted Return on Average Tangible Equity:
Adjusted net income (refer to the "Adjusted Net Income" non-GAAP reconciliation table)	$	22,821		$	23,021		$	20,917		$	67,725		$	51,848
Adjustment for amortization of core deposit intangible assets	1,354			1,354			1,473			4,062			4,419
Tax impact of above adjustment(1)	(311)			(311)			(339)			(934)			(1,016)
Adjusted net income, adjusted for amortization of core deposit intangible assets	$	23,864		$	24,064		$	22,051		$	70,853		$	55,251
Adjusted return on average tangible equity	17.47		%	18.47		%	18.88		%	18.03		%	16.60		%


Item 2.02			Results of Operations and Financial Condition.


Item 9.01			Financial Statements and Exhibits.


Tangible Book Value Per Share and Tangible Common Equity Ratio:
(In thousands, except number of shares, per share data and ratios)	September 30, 2026			June 30, 2026			September 30, 2025
Tangible Book Value Per Share:
Shareholders' equity, as presented	$	720,641		$	725,926		$	676,444
Adjustment for goodwill and core deposit intangible assets	(190,023)			(191,377)			(195,558)
Tangible shareholders' equity	$	530,618		$	534,549		$	480,886
Shares outstanding at period end	16,898,044			16,896,273			16,922,225
Book value per share	$	42.65		$	42.96		$	39.97
Tangible book value per share	$	31.40		$	31.64		$	28.42
Tangible Common Equity Ratio:
Total assets	$	7,053,049		$	6,950,980		$	6,981,522
Adjustment for goodwill and core deposit intangible assets	(190,023)			(191,377)			(195,558)
Tangible assets	$	6,863,026		$	6,759,603		$	6,785,964
Common equity ratio	10.22		%	10.44		%	9.69		%
Tangible common equity ratio	7.73		%	7.91		%	7.09		%