Camden National Bank is a commercial bank headquartered in Camden, Maine, operating as the principal subsidiary of Camden National Corporation (), a publicly traded bank holding company. Founded in 1875, the bank became a direct, wholly owned subsidiary of the holding company following a corporate reorganization in 1984. Following the 2025 merger with Northway Financial, the combined institution has approximately $7.0 billion in assets.
The bank operates commercial and consumer banking services, including wealth management and trust services, serving individuals, businesses, municipalities, and non-profit organizations in Maine and New Hampshire.
Camden National Bank was established in January 1875 during Camden's industrial expansion period. By 1886, the town's industrial base included foundry products, railroad cars, woolens, paper mill feltings, anchors, maritime hardware, planking, powder kegs, excelsior, mattresses, tinware, oakum, textiles, boots, shoes, leather goods, flour, meal, corn brooms, and barrels. Camden was the second-largest producer of lime in the region after Rockland, with limestone quarried locally and processed in kilns before shipment to ports throughout the United States.
The bank's founding occurred during Camden's prominence as a maritime center. The town's shipbuilding industry reached its peak in the late 19th century, with the H.M. Bean Yard launching vessels including the Charlotte A. Maxwell, the largest four-masted schooner of its time, and the George W. Wells, the first six-masted schooner ever constructed. During this period, Maine's lumber industry dominated regional commerce. By 1830, Bangor, Maine had become the world's largest lumber shipping port, moving over 8.7 billion board feet of timber over the following sixty years.
The bank weathered significant economic challenges including the Panic of 1893, Great Depression, and both World Wars. After the Civil War, the railroads and the Industrial Revolution gradually brought an end to the shipping industry that had made Maine the most prosperous state in the Union. As more and more goods were manufactured in America, Americans no longer needed to import those goods from Europe.
The Company was founded in 1984, went public in 1997 and is now registered with NASDAQ Global Market ("NASDAQ") under the ticker symbol "CAC." This restructuring positioned the institution for significant growth in the subsequent decades.
The bank's main office was relocated to 2 Elm Street in Camden, Maine, on March 23, 1987. This move coincided with increased investment in modernizing operations and expanding the bank's service offerings.
Camden National completed several acquisitions to expand geographically in Maine:
Acquisitions include:
On September 10, 2024, Camden National announced an agreement to acquire Northway Financial Inc., the parent company of Northway Bank, in an all-stock transaction valued at approximately $87 million. The merger closed on January 2, 2025, creating a combined institution with $7.0 billion in assets and 73 branches in Maine and New Hampshire.
The transaction was Camden National's first acquisition outside of Maine. Systems conversion was completed in mid-March 2025.
Camden National operates through a network of 72 branches and 76 ATMs across its market areas:
The bank also maintains commercial loan production offices in Massachusetts and provides online lending platforms for residential mortgages and small commercial loans.
Camden National provides comprehensive financial services including:
Banking Services:
Specialized Services:
Camden National Wealth Management provides investment management, financial planning, retirement planning, and estate planning services.
Acadia Trust, N.A. operates as the bank's trust division, offering fiduciary services, asset management, and trust solutions through offices in Portland, Bangor, and Ellsworth.
Healthcare Professional Funding provides financing for dental, veterinary, and eye care providers.
The bank's board includes business leaders from across Northern New England. Following the Northway merger completion, Camden National appointed Larry K. Haynes to Camden National's Board of Directors and Audit Committee. Mr. Haynes previously served on Northway's Board of Directors. Marie J. McCarthy was appointed as Chair of the Board following the announcement of Larry J. Sterrs retirement.
Camden National Bank operates 56 branches in Maine, making it the second-largest bank in the state by branch count and ranking 134th nationally.
The bank operates as a Community Reinvestment Act lender and maintains partnerships with the Finance Authority of Maine (FAME) for small business lending.
Camden National's acquisition activity reflects regional banking consolidation trends. According to Gerard Cassidy, RBC Capital Markets' Portland-based banking analyst, consolidation momentum in the sector was expected to accelerate during 2024-2025.
Camden National Bank operates under a national charter and is regulated by the Office of the Comptroller of the Currency (OCC). The bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable limits. As a member of the Federal Reserve System, the bank maintains the FDIC certificate number 4255 and Fed RSSD ID 593007.
Camden National has received workplace recognition awards.