Camden National Corp (NASDAQ:CAC)

hydrogo (< 20) Submitted: 1/30/2007 10:59:58 PM : Start Price: $37.00 CAC Score: -11.24

Camden National has successfully acquired and integrated United Bank of Bangor (purchased 1995) and Kingfield Savings Bank (purchased 1999). They merged these two banks in 2000 and integrated them under the Camden National banner in 2006. This slow and steady growth style has served them well and I expect will continue to work in the future. They also own a full service brokerage firm called Acadia Financial Consultants. This is an ambitious sideline, unusual for a small bank in Maine. CAC has offices in locations where wealthy retirees come to live. Management seems confident about growth shown by a 9.1% dividend increase announced a few weeks ago. I expect to see steady growth in this corporation. On the other hand they may be an attractive target for a buyout by a large national bank over the next 5 years.