Camden National Corp. Secures Regulatory Approvals for Northway Financial Merger

Camden National Corporation (NASDAQ: CAC) has received regulatory approvals for its merger with Northway Financial, Inc. (OTCQB: NWYF), marking a significant milestone in the creation of a premier publicly traded northern New England bank. The combined company will have a robust footprint with 74 branches serving Maine and New Hampshire, total assets of $7.0 billion, and approximately $5.1 billion in loans. This strategic merger is expected to generate substantial synergies, driving profitability and shareholder value.

The merger, valued at approximately $86.6 million, is expected to be 19.9% accretive to Camden National's 2025 earnings per share and 32.7% accretive to 2026 earnings per share. This financial upside is driven by cost savings and revenue growth opportunities, including operational efficiencies, branch rationalization, and cross-selling initiatives. The combined company will have a stronger balance sheet, enabling it to invest in technology and advice capabilities, enhancing the customer experience and driving organic growth.



The combined company's expanded product offerings and increased lending limits will cater to the evolving needs of customers in New Hampshire and Maine. With a broader range of financial services, the bank can better serve small and medium-sized businesses (SMBs) in the region, supporting their growth and expansion. Additionally, the enhanced customer experience, driven by improved digital banking services and expanded branch networks, will foster stronger relationships and drive customer loyalty.



The merger of Camden National Corp. and Northway Financial, Inc. is a strategic move that positions the combined company for long-term success in the competitive New England banking market. With an expanded branch network, diversified product offerings, and a stronger balance sheet, the merged entity is well-equipped to attract and retain customers, drive organic growth, and create shareholder value. As the regulatory approvals clear the path for the merger's completion, investors should closely monitor the progress of this transformative transaction.

In conclusion, the merger of Camden National Corp. and Northway Financial, Inc. is a strategic move that creates a premier northern New England bank with a strong competitive position. With regulatory approvals secured, the combined company is poised to generate significant synergies, drive financial performance, and create long-term value for shareholders. As the merger progresses, investors should closely monitor the integration process and the realization of expected synergies.