Camden National Bank | CRA Public File

CRA Public File

As a Maine-based business, Camden National Bank is deeply rooted in the communities where we live and work and therefore understand local needs. We apply this knowledge and experience to every encounter. Whether through the in-kind donation of thousands of hours of volunteer time or through direct financial support, our giving is based on the belief that our vitality as a community bank depends on the well being of our communities. At Camden National Bank, we value the opportunity to be an integral part of each community we serve.

In accordance with the Community Reinvestment Act (CRA) Regulation (Regulation BB, 12 CFR 25), Camden National Bank is required to maintain and, upon request, make available for the public inspection a complete CRA Public File

For your convenience, we've made much of our Community Reinvestment information available here on our Web site; however, some information cannot be easily captured online. Our Main Office in Camden, as well as our branches in Portland, Bangor and Lewiston has a complete CRA file available for public viewing. You may contact either of these locations to make an appointment to view the complete file; or, to obtain information that is not available online, please complete the CRA request form below.

Please click on any link below for quick and easy access to the information you are requesting:

Request Form for additional information.

For the current year and two previous years, all written comments from the public about how our bank is helping meet community credit needs.
A copy of our bank's CRA disclosure statement, prepared by its regulator. The statement contains information about small business and small farm loans and the population's income levels for each county where the bank operates.
A copy of the Home Mortgage Disclosure Act "HMDA" Disclosure Statement.
A copy of the Assessment Area Maps
Our community bank contributed a total of 22,610 hours of volunteerism in 2007 to local non-profits, community organizations, churches and food banks to name a few. A complete list is available upon request.

CAMDEN NATIONAL BANK
CRA POLICY

This Bank is committed to serving the credit needs of the communities in which we do business. It is our policy to respond to all creditworthy segments of our market. We believe that doing so is basic to good business practice, and to the Bank's own long-term vitality. This policy has been the basis of our success in the past and will remain a foundation on which we plan our future.

In pursuing this commitment, we will ensure that we comply with the letter and spirit of the Community Reinvestment Act (CRA). We recognize that this requires us to take a proactive, rather than a passive approach to determining and meeting community credit needs, including those of creditworthy low-income and moderate-income areas and individuals. The Bank's lending policies incorporate the laws associated with the Truth in Lending Act, Equal Credit Opportunity Act, Fair Housing Act and the Fair Credit Reporting Act, The Fair and Accurate Credit Transactions Act of 2003, as well as the CRA.

Assignment of Responsibilities

Role of the Board of Directors

The Board of Directors will appoint a CRA officer to carry out this policy. The Board will also, at least annually, review our CRA Statement and formally adopt it as required by regulation. It will also stay informed of our CRA performance through quarterly updates outlining current CRA related activities and through periodic evaluation of the internal and agency examination reports. The Board will also hold bank personnel accountable for the Bank's CRA performance.

CRA Officer and Committee

The Bank will have a CRA Officer who will be appointed by the Board of Directors and will report, for CRA purposes, to the Board and the Bank President.

The CRA Officer will be responsible for administering the program described in this policy and for reporting to management and the Board on its implementation.

The CRA Officer will also chair a CRA committee. The CRA Committee will be comprised of the Bank's CRA Officer, at least one Director and other officers of the Bank and Corporation as appropriate. The Committee will meet quarterly and the minutes will be presented to the full Board of Directors at their next scheduled monthly meeting. The Committee will develop our CRA program, monitor our CRA performance, oversee CRA education, and recommend ways to improve our CRA program to senior management.

Cooperation of Staff

All Bank personnel are expected to cooperate with and support our CRA program. Management will be held accountable for any lack of cooperation of staff that weakens our CRA performance as reflected in internal reviews, agency examinations, and/or community protests or complaints.

Technical Compliance

The CRA Officer will assure that the Bank meets the procedural requirements of CRA, including:

Developing an appropriate CRA Mission Statement and ensuring that it is available to the public as required.
Ensuring that the standard CRA notice is posted in our offices as required.
Maintaining proper files of public comments relating to our CRA performance.
Submitting the CRA Mission Statement, CRA Policy and the CRA Statement to the Board for review and action at least annually.

CRA Performance Program

The CRA Officer and committee will establish a CRA program to ensure that the Bank performs well under the "assessment factors" in the regulation. This program will include the following:

Ascertaining Community Needs

It is the policy of this Bank to make an active effort to determine the credit needs of our entire community, including those of low-income to moderate-income areas and individuals.

The CRA Officer will ensure that this is done by identifying people who can speak to these needs, such as community organizations, government officials, non-profit groups, businesses, trade associations, and church and educational leaders.

The CRA Officer will establish a program to assure that the Bank contacts these people at least once a year. Correspondence will be sent to the individuals and organizations inviting a written response and seeking face-to-face meetings with those who have responded. These contacts will be made by the CRA Officer and supported by other senior officers who have the expertise to discuss the issues that are identified.

The people contacted will be asked their opinions as to:

how well the Bank is serving the segments of the community for which the contact can speak, and
whether there are any unmet credit needs in these areas.

CRA Compliance

As part of our ongoing compliance process to ensure data integrity of the CRA statement, the Bank will complete actual sampling and review of data and working papers will be kept on file to document the review. The Bank will conduct a comprehensive review of the latter at least annually. The Bank's CRA Officer and CRA Committee will also evaluate the Bank's performance with respect to this policy and to the Federal Regulation at least annually.

In addition, the CRA Officer and committee will make recommendations for changes in our program or its execution, based on the results of the internal compliance review.

Review of Comments

The CRA Officer and committee will review any comments received by the Bank for any indication of problems that could lead to protests or criticism of our CRA performance. They will recommend action to address any significant comments to management. All CRA-related comments will be maintained in the CRA comment file, as required, and will be accompanied by the Bank's response to them, where appropriate.

As a general rule, the Bank will respond to any CRA related comments from community organizations by inviting them to meet with us to discuss the problem and potential solutions.

Relations with Community Groups

The Bank will make an active effort to know the people in local organizations concerned with community development and the needs of low-income and moderate-income people. Our needs assessment contacts will be a regular vehicle for ensuring good communication with them.

We will supplement these regular channels at any time that we receive an indication that a community group has a concern about or a request of our Bank. Our policy will be to agree to any reasonable request to meet with such organizations. We will endeavor to meet at a time and place convenient to the groups. We will also endeavor to make a representative of senior management available whenever requested by a group that appears to represent a legitimate segment of our community. Our position will be to be as open, accessible, and flexible as possible.

CAMDEN NATIONAL BANK
CRA Mission Statement

Camden National Bank is committed to its community and its desire to extend credit to and to participate in community development programs designed to meet the needs of all community members, including those in low-and moderate-income areas.

We will actively seek to understand the credit needs of our community.
We will actively strive to ensure that our products and services are responsive of the needs of the customers within our community.
We will actively strive to ensure that all potential customers in our community, including those in low- and moderate-income areas, are fully aware of the services we offer and of our desire to server their financial needs.
We will actively work to ensure that our personnel understand and share the bank's commitment to providing service to all of our customers and are provided with the knowledge, products, delivery systems, and motivation to do so effectively.

CAMDEN NATIONAL BANK
CRA Statement

The Office of the Comptroller of the Currency (OCC) pursuant to the Community Reinvestment Act of 1977, has adopted regulations designed to encourage OCC regulated institutions to help meet community credit needs in accordance with their particular skills and resources, and consistent with safe and sound banking operations.

In addition, the regulations require that OCC governed financial institutions adopt a Community Reinvestment Act Statement, which outlines the institutions efforts in helping meet the local community credit needs.

This Community Reinvestment Act Statement contains the public Community Reinvestment Act Notice, defines the local community for Camden National Bank, states the types of credit available to qualified borrowers and outlines this Bank's efforts to meet the credit needs of the community.

Community Reinvestment Act Notice

Under the Federal Community Reinvestment Act (CRA), the Office of the Comptroller of the Currency (OCC) evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The OCC also takes this record into account when deciding on certain applications submitted by us.

Your involvement is encouraged.

You are entitled to certain information about our operations and performance under the CRA. You may review the public section of our most recent CRA Evaluation, prepared by the OCC and a list of services provided at the following branches: Main Office in Camden, Portland, Bangor and Lewiston. You may also access the CRA Public File on the Internet at www.camdennational.com

Additional information, which is available by request through our branches or on line at www.camdennational.com is available to you within five calendar days after you make the request. This includes: (1) copies of all written comments received by us that specifically relate to our CRA performance in this assessment area, and any responses we have made to those comments; (2) CRA Disclosure Statement; (3) HMDA Disclosure Statement; (4) Complete list of volunteer hours; (5) a map showing the assessment area in which the OCC evaluates our CRA performance in this community.

If you would like to review information about our CRA performance in other communities served by Camden National Bank, the public file for our entire bank is available at the following locations:

2 Elm Street, Camden, Maine 04843
5 Milk Street, Portland, Maine 04101
145 Exchange Street, Bangor, Maine 04401
110 Canal Street, Lewiston, Maine 04243

At least 30 days before the beginning of each quarter, the OCC publishes a nationwide list of the banks that are scheduled for CRA examination by the OCC in that quarter. This list is available from the Deputy Comptroller, Office of the Comptroller of the Currency. You may send written comments about our performance in helping us meet community credit needs to Vera Rand, CRA Officer, Camden National Bank, P.O. Box 310, 2 Elm Street, Camden, Maine 04843, and the Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010. Your letter, together with any response by us, will be considered by the OCC in evaluating our CRA performance and may be made public.

You may ask to look at any comments received by the OCC. You may also request from the OCC an announcement of our applications covered by the CRA filed with the OCC. We are an affiliate of Camden National Corporation, a bank holding company. You may request from the Community Affairs Officer, Federal Reserve Bank of Boston, 600 Atlantic Avenue, Boston, MA 02106, an announcement of applications covered by the CRA filed by bank holding companies.

DELINEATION OF ASSESSMENT AREA
The Office of the Comptroller of the Currency (OCC) requires its regulated banks to review at least annually, a delineation of the "assessment area" which the bank serves. Among the ways suggested for delineating an assessment area is defining that area around each office or group of offices where the bank makes a substantial portion of its loans. This CRA statement reflects information and activity based upon the delineation method described above.

Camden National Bank defines its assessment areas as two separate assessment areas. The primary assessment area is delineated as the local communities in which it has branches to include: Bucksport, Belfast, Camden, Rockland, Thomaston, Waldoboro, Damariscotta, Vinalhaven, Union, Bangor, Bingham, Corinth, Dover-Foxcroft, Kingfield, Lewiston, Farmington, Greenville, Hampden, Hermon, Madison, Milo, Phillips, Rangeley, Stratton, Bar Harbor, Blue Hill, Castine, Ellsworth, Jonesport, Milbridge, Stonington and their surrounding areas. The second assessment area delineated is that of the greater Portland and the eastern side of York County reflective of the local communities surrounding our two southern Maine branches, Portland and Kennebunk. The maps and Assessment Area Listings provide more specifically the full areas covered by these local full-service banking offices. Exhibit #1 Primary Assessment Area, Exhibit #2 Assessment Area #2.

CRA COMMITTEE
The CRA Committee will be comprised of the Bank's CRA Officer, at least one Director and other officers of the Bank and Corporation as appropriate. The Committee will meet quarterly and the minutes will be presented to the full Board of Directors at their next scheduled monthly meeting.

TYPES OF CREDIT
Consistent with profitable and prudent lending and the availability of funds, the Bank is prepared to extend credit to qualified borrowers through the following types of credit:

Residential mortgage loans for one to four family dwellings, both fixed and adjustable rates, FHA, VA, RHS and MSHA loans.
Home equity lines of credit and second mortgage loans, on owner-occupied and second home, one to four family dwellings.
Commercial loans both unsecured and secured by real estate in the Bank's defined lending area and in other areas of the State as opportunities arise. Includes SBA, FAME and other government lending programs
Unsecured personal and home improvement loans to individuals.
Collateral loans on marketable securities.
Savings and regular certificate collateral loans.
Second mortgages.

DETERMINATION OF COMMUNITY CREDIT NEEDS
Camden National Bank actively assesses the credit needs of the community through a number of activities, including but not limited to, community involvement, market research, and advertising and marketing programs.

Community Involvement The Staff, Officers and Directors of Camden National Bank participate in local civic functions in an effort to help these organizations meet their commitments and gain exposure to these groups.

Some examples are:
Chambers of Commerce
Boards of Realtors
Service Club Organizations
Other charitable, non-profit and community groups

Market Research
Camden National Bank utilizes both informal and formal market research techniques from time to time to keep in touch with our customers, our community and their needs for banking services. All loan applications received by this Bank are tracked by census tract to give management the data necessary to determine the results of its efforts. As part of these efforts we regularly stay in touch with various surveys and research completed by other local and regional organizations that compile data on consumer needs.

Marketing and Advertising
Camden National Bank utilizes marketing and advertising programs, which inform the community about deposit and credit services we offer. These take the form of advertisements in newspapers in general circulation mediums as well as special interest mediums designed to communicate with special market segments. In addition, the organization utilizes radio advertisements, direct mail, the Internet and other miscellaneous forms of marketing and advertising.

BRANCH CLOSING POLICY

Camden National Bank is committed to having a distribution system that effectively and efficiently delivers services to our customers. Traditionally, that distribution system has consisted primarily of our branch network. Today, it is increasingly difficult to make full services branches competitive and profitable. Accordingly, we must re-evaluate the viability of our branches periodically and may, in some cases, have to close them.

Our policy with respect to branches that may need to be closed is as follows:

Before closing a branch:

We will make every attempt to develop a standard evaluation format regarding the profitability of the branch including return on equity measures, where possible.
We will try to identify changes in staffing, products offered, use of floor space, etc., that could make an unprofitable branch profitable.
We will try to identify ways to increase the volume or mix of business at the branch to increase its profitability.
If we consider closing a branch in a lower income or minority area, we will meet with neighborhood representatives (elected and from volunteer organizations) to discuss measures that could help keep the branch open or make its closing as painless as possible to area customers.

If we must close a branch:

We will notify the Office of the Comptroller of Currency (OCC) and the FDIC at least 90 days prior to the proposed closing date. The following information will be included in the notice:

Identification of the branch to be closed.
The proposed date of closing.
A detailed statement of the reasons for the decision to close the branch.
Statistical or other information in support of such reasons.

We will give the community at least 90 days notice, through either direct mailing and/or a notice in the regular account statements, to each of the closing branch's customers and we will post signs in the closing branch at least 30 days before the scheduled closing date. The mailed and posted notices will include:

The location of the branch to be closed.
The proposed date of the closing.
The location of other branches where the customer may obtain service or a telephone number to call for such information.

"Branch Customers" will be determined using a "reasonable" method, based on the Bank's current system to identify branch customers. A "branch customer" is a customer who has opened a deposit or installment loan at the branch to be closed. All mortgage account customers are considered to be customers at the Main Office. As systems change, the Bank may use other means of allocating customers, but always by the use of a "reasonable" method.
We will make it easy as possible for customers of a closed branch to continue to bank with us. Instructions on the use and locations of ATMs, Direct Deposit, Bank by Mail, Access24 and online banking will be made available. The Bank may also consider expanding ATM services in the area affected. In addition, customers will be encouraged to visit the nearest branch, and the Bank personnel will be trained to assist customers in the transition process.

AMENDMENT OF POLICY
The Compliance Officer of the Bank will recommend to management and the Board any future changes in this policy. Changes might be recommended because of new or changed laws or regulations, or as a result of our review mechanisms.

BOARD OF DIRECTORS INVOLVEMENT
The Board of Directors of the Bank represent a local cross section of the Bank's market area and are actively involved in local community efforts, politics and business, reflecting a continued commitment to the community. The Board acts as both an outreach group to the community and as a sounding board for community groups and the Bank's management. The Board and its committees continually monitor the Bank's lending policies and practices to ensure that it does not discriminate in the extension of credit on the basis of race, color, religion, national origin, sex, marital status or age and takes an active role in informing the community at large about the Bank and its products and services.

The Board of Directors of Camden National Bank will review and approve this Community Reinvestment Act Statement at least annually.

Branch information

Click here to see a complete listing of all Camden National Bank Office Locations

Branch	Census Tract
Main Office	9702.00
Union	9703.00
Camden Square	9702.00
Rockland	9706.00
Thomaston	9704.00
Belfast	430.00
Bucksport	9653.00
Vinalhaven	9701.00
Waldoboro	9752.00
Damariscotta	9753.00
Bangor	2.00
Hampden	2.00
Hermon	4.00
Corinth	170.00
Greenville	9603.00
Dover-Foxcroft	9607.00
Milo	9609.00
Kingfield	9901.00
Stratton	9901.00
Phillips	9906.00
Rangeley	9906.00
Farmington	9912.00
Bingham	9853.00
Madison	9865.00
Lewiston	201.00
Portland	3.00
Kennebunk	280.01
Bar Harbor	9659.00
Blue Hill	9663.00
Castine	9664.00
Ellsworth	9655.00
Jonesport	9563.00
Milbridge	9565.00
Stonington	9666.00

Branches closed or opened (current year and past two years)

No branches were closed between 2004 and December 2007.

Assessment Area Tract Listing

Click here to see a listing of Primary and Secondary 2007 Tracts. (PDFs - 23kb)

Products and Services

Click on the links below to see a listing of Personal and Business banking products and services.

CRA Performance Evaluation

Click here to see a copy of the most recent CRA Performance Evaluation. (PDF - 217kb)



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