Camden National Corporation Reports First Quarter 2021 Financial Results
Camden National Corporation Reports Record Net Income of $19.7 Million for the First Quarter of 2021
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CAMDEN, Maine, April 27, 2021 /PRNewswire/ Camden National Corporation (NASDAQ: CAC; Camden National or the Company ), a $5.1 billion bank holding company headquartered in Camden, Maine, reported net income of $19.7 million and diluted earnings per share ( EPS ) of $1.31 for the first quarter of 2021, increases of 46% and 47% over the first quarter of 2020, respectively. On a linked-quarter basis, the Company s first quarter 2021 net income and diluted EPS increased 8% and 7% over the fourth quarter of 2020, respectively. These strong financial results led to a return on average equity of 15.00% and a return on average tangible equity (non-GAAP) of 18.47% for the first quarter of 2021.
FIRST QUARTER 2021 FINANCIAL RESULTS
Camden National Corporation Reports Record Net Income of $19.7 Million for the First Quarter of 2021
CAMDEN, Maine, April 27, 2021/PRNewswire/ Camden National Corporation (NASDAQ: CAC; “Camden National” or the “Company”), a $5.1 billion bank holding company headquartered in Camden, Maine, reported net income of $19.7 million and diluted earnings per share ( EPS ) of $1.31 for the first quarter of 2021, increases of 46% and 47% over the first quarter of 2020, respectively. On a linked-quarter basis, the Company s first quarter 2021 net income and diluted EPS increased 8% and 7% over the fourth quarter of 2020, respectively. These strong financial results led to a return on average equity of 15.00% and a return on average tangible equity (non-GAAP) of 18.47% for the first quarter of 2021.
Operator
Good morning, everyone, and welcome to Pinnacle Financial Partners First Quarter 2021 Earnings Conference Call. Hosting the call today from Pinnacle Financial Partners is Mr. Terry Turner, Chief Executive Officer; Mr. Harold Carpenter, Chief Financial Officer; and Mr. Tim Huestis, Chief Credit Officer.
Please note, Pinnacle s earnings release and this morning s presentation are available on the Investor Relations page of their website at www.pnfp.com. Today s call is being recorded and will be available for replay on Pinnacle;s website for the next 90 days. At this time, all participants have been placed in a listen-only mode. The floor will be open for your questions following the presentation. [Operator Instructions].
Results: Crisil reports 5% decline in net profit at Rs 84 crore in March quarter
Crisil Ratings firm Crisil on Monday reported a 5.2 per cent decline in consolidated net profit at Rs 83.5 crore for the first quarter ended March 2021.
The company follows the January-December financial year.
In the same quarter a year ago, the company s net profit stood at Rs 88.1 crore.
Foreign exchange loss for the quarter ended March 2021 was Rs 4.7 crore. There was a gain of Rs 16.6 crore in the corresponding period of the previous year, Crisil said.
The results for the quarter include full quarter financials of Greenwich Associates LLC, acquired in February 2020, as against one month s numbers considered in the same quarter of the previous year, it added.