Business Description

Overview . Camden National Corporation (hereafter referred to as “we,” “our,” “us,” or the “Company”) is a publicly-held bank holding company, with $7.0 billion in assets at December 31, 2025, incorporated under the laws of the State of Maine and headquartered in Camden, Maine. Camden National Bank (the “Bank”), a wholly-owned subsidiary of the Company, was founded in 1875. The Company was founded in 1984, went public in 1997, and is registered with NASDAQ Global Market (“NASDAQ”) under the ticker symbol “CAC.” Our consolidated financial statements accompanying this Form 10-K include the accounts of the Company, the Bank and the Bank’s subsidiaries and divisions. All inter-company accounts and transactions have been eliminated in consolidation. On January 2, 2025, we completed our acquisition of Northway Financial, Inc. (“Northway”) and its bank subsidiary, Northway Bank. The acquisition of Northway added $971.9 million of deposits and $1.2 billion total assets to our balance sheet, and expanded our presence in New Hampshire by adding 17 branches to our network. Refer to Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Note 2 of the consolidated financial statements for additional details regarding the Northway acquisition. Who We Are . We are an award-winning, relationship-driven community bank with a long history of supporting individuals, families, and businesses at every stage of their financial journey. We combine local decision-making with scalable products, modern digital capabilities, and deep market knowledge. With 72 branches across Northern New England, we offer a comprehensive suite of competitive financial products and services. Our investments in digital banking convenience, efficiency, and engagement, enabling customers to bank how, when, and where they choose. Our experienced teams provide personalized advance and tailored solutions. Founded in 1875, we are passionate about making a difference in the lives of our customers and communities we serve, so that together we can thrive in a vibrant, prosperous community for all. We are committed to helping customers succeed financially and supporting sustainable economic growth in the markets we serve. We actively reinvest in the neighborhoods where we live and operate through local lending, targeted philanthropy, and employee volunteerism. As we grow, we remain committed to doing so responsibly, supporting economic vitality, strengthening relationships, and reinforcing our brand as a trusted local partner. We believe strong communities and strong financial performance are mutually reinforcing, and together, they drive long-term value creation. Our Commitment to Community and Responsible Corporate Governance. Our commitment to responsible corporate governance and community engagement is embedded in our culture and decision-making. These principles support our strategic objective to generate consistent, sustainable long-term value for our shareholders, customers, employees, and communities we serve. What We Do. The Company, as a diversified financial services provider, pursues the objective of achieving long-term sustainable and profitable growth, while mitigating risks inherent in the financial services industry. The primary business of the Company and the Bank is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers. The Company, through the Bank, provides a broad array of banking and other financial services including wealth management and trust services, brokerage, investment advisory and insurance services to consumer, business, non-profit and municipal customers. For the years ended December 31, 2025, 2024 and 2023, net interest income was our primary revenue source, representing 79%, 75%, and 81%, of our total revenues 1 , respectively. Net interest income is the interest earned on our lending activities, investment securities and other interest-earning assets, less the interest paid on interest-bearing deposits and borrowings ( i.e. our primary business activities). We have achieved a five-year compounded annual asset growth rate of 7%, resulting in $7.0 billion in total assets at December 31, 2025. Asset growth over the past five years of $1.4 billion included organic growth of $219.2 million and acquired total assets of $1.2 billion.…