|By Marketwired .||
|November 13, 2012 10:36 AM EST||
CAMDEN, ME -- (Marketwire) -- 11/13/12 -- Based on its commitment to the community and volume of loans throughout the course of the year, Camden National Bank has been named "Financial Institution of the Year" by the Finance Authority of Maine (FAME). This marks the third year that Camden National has received the distinction out of the last four. Camden National Bank will be honored this afternoon during FAME's 13th annual "Showcase Maine" event, which starts at 4:30 p.m. at Holiday Inn by the Bay in Portland.
"Camden National Bank is committed to helping Maine businesses succeed while strengthening our local communities," says Greg Dufour, president & chief executive officer of Camden National Bank. "This is especially true with new businesses that may need the extra support our partnership with FAME can provide."
Kyle Murdock of Sea Hag Processing is an example of that. Murdock, a young lobsterman, says almost all processing plants are located in Canada. He saw an opportunity in Maine. "When no one else would talk to me, Camden National not only entertained my request, but they got involved in the process," Murdock says. In January 2012, Camden National Bank loaned him $878,000. "I am so grateful that they afforded me this opportunity."
Murdock says because of this support, his processing plant is projected to gross $3 million this year alone. Murdock's loan is one of many that earned Camden National Bank the "Financial Institution of the Year" distinction from FAME, whose focus is to help businesses access capital to grow, expand and succeed by providing insurance to banks to help them assist borrowers.
"Over the past year, Camden National partnered with FAME on 41 loans totaling over $11.8 million. This in turn helped to create 102 Maine jobs and retain an additional 360 jobs," stated FAME Chief Executive Officer Beth Bordowitz. "They're also an active contributor to FAME's Lender Advisory Council and are committed to the communities in which they operate. We're pleased to again recognize them with this award."
"This comes at an exciting time for us at Camden. We just successfully expanded our footprint and welcomed 30,000 customers to our family," says Dufour. "We plan to continue the same high level of commitment as we head into 2013."
In October, Camden National Bank expanded its footprint into Auburn, Augusta, Brewer, Gardiner, Old Town, Newport and Waterville, and increased its presence in Bangor and Lewiston. In addition, Camden National will re-open the former Bank of America branch in Orono this December. Camden National Bank now operates 50 locations and is the fourth largest bank in deposit market share in the state of Maine.
About Camden National Corporation
Camden National Corporation, headquartered in Camden, Maine, is the holding company employing more than 500 Maine residents for two financial services companies including Camden National Bank and the wealth management company, Acadia Trust, N.A. Camden National Bank is a full-service community bank with a network of 50 banking offices throughout Maine. Acadia Trust offers investment management and fiduciary services with offices in Portland and Ellsworth. Located at Camden National Bank, Camden Financial Consultants offers full-service brokerage and insurance services. Learn more at CamdenNational.com.
Certain statements in this document may be considered forward-looking statements under the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, projections, and statements, which are subject to numerous risks, assumptions, and uncertainties. Forward-looking statements can be identified by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "plan," "target," or "goal," or future or conditional verbs such as "will," "may," "might," "should," "would," "could" and other expressions which predict or indicate future events or trends and which do not relate to historical matters. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, including risks, assumptions and uncertainties relating to the acquired branches, completion of the transaction, integration of the acquired branches and related operations and any required or planned divestitures and the related process, actual results, performance or achievements may vary materially from those anticipated, estimated or projected. More information about the factors that could cause actual results to materially differ is contained in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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