Camden National To Acquire Northway Financial - Quick Facts

(RTTNews) - Camden National (CAC), the bank holding company for Camden National Bank, and Northway Financial, the parent company of Northway Bank, have entered into a definitive agreement under which Camden National will acquire Northway in an all-stock deal valued at approximately $86.6 million. The combined company will have 74 branches, with approximately $7.0 billion in assets, $5.1 billion in loans, $5.5 billion in deposits, and $2.0 billion of Assets Under Administration. The combined company will operate under the Camden National Bank name.

Northway shareholders will receive 0.83 shares of Camden National common stock for each outstanding share of Northway common stock. Upon completion, Camden National shareholders will own approximately 86% of the combined company and Northway's shareholders will own approximately 14% of the combined company, which will continue to trade on Nasdaq under the CAC stock ticker symbol. On a combined basis, the merger is expected to be approximately 19.9% accretive to Camden National's 2025 earnings per share and 32.7% accretive to Camden National's 2026 earnings per share.