Camden, Maine, January 11, 2018 - Camden National Corporation (NASDAQ: CAC; “Camden National”) the parent company of Camden National Bank, announced that as a result of the recently enacted tax reform, it will make strategic investments in line with its core values in order to benefit employees and the customers and communities they serve.
To recognize the commitment, many contributions and value of its employees, Camden National Bank will award all non-executive, full time employees a special $1,000 cash bonus, and all part-time employees will receive a special $750 cash bonus.
Additional investments have also been earmarked to evaluate employee compensation and increase access to continued employee education in Camden National Bank’s ongoing effort to provide financial wellness, sustainable career paths and professional growth opportunities for all employees.
Additional funding has also been provided to accelerate Camden National’s strategic efforts, product innovation and capital improvement program on behalf of customers. These investments will be centered on enhancing the customer experience both digitally and through its expansive banking center network.
Camden National Bank has also committed to expanding community funding. Additional investments in philanthropic efforts will build on the strong foundation of its Hope@Home program, which has already contributed nearly $250,000 to local homeless shelters and other community-based organizations.
"The recent tax change has provided us a unique opportunity to make meaningful investment decisions that complement our existing values and strategies,” said Greg Dufour, President and CEO. “By making these investments, we’re able to reward our dedicated employees who work hard each day to serve our customers and give back to the community. We’re also in a position to accelerate projects that enhance our customers’ experiences and continue to create long-term growth and value for our shareholders.”
About Camden National Bank
Camden National Corporation (NASDAQ:CAC), founded in 1875 and headquartered in Camden, Maine, is the largest bank holding company in Northern New England with $4.0 billion in assets and nearly 650 employees. Camden National Bank, its subsidiary, is a full-service community bank that offers an array of consumer and business financial products and services, accompanied by the latest in digital banking technology to empower customers to bank the way they want. The Bank provides personalized service through a network of 60 banking centers, 76 ATMs, and lending offices in New Hampshire and Massachusetts, all complemented by 24/7 live phone support. This year marks the 8th time Camden National Bank has received the “Lender at Work for Maine” Award from the Finance Authority of Maine. Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management. To learn more, visit CamdenNational.com. Member FDIC.