Camden National Bank Creates Camden National Wealth Management Through Acadia Trust, N.A. Combination

Camden, Maine and Portland, Maine – December 1, 2016 – Gregory A. Dufour, president and chief executive officer of Camden National Corporation (NASDAQ: CAC), the parent company of Camden National Bank and Acadia Trust, N.A. (“Acadia”), announced today that it successfully completed the combination of Acadia and Camden National Bank and launched a new brand “Camden National Wealth Management.”

“We are excited and energized by our new wealth brand and what it represents,” said Dufour. “This combination will leverage the technology, capital and resources of both companies to better serve our valuable clients. Additionally, our very capable and highly talented team of experts can now offer clients access to a comprehensive range of deposit and loan products, which will significantly enhance our wealth management clients’ experience.”

Mary Beth Haut, who joined Acadia in April 2016, will become managing director and executive of Camden National Wealth Management. In addition to her duties as managing director, Haut will join the executive committee of Camden National Bank.

“Acadia’s proprietary investment discipline has served clients well for more than 30 years and will continue to be central to our investment management platform,” said Haut. “We will continue to consistently put the needs and interests of our clients first, leveraging our expanded resources to deliver comprehensive strategies, solutions and services.”

Additionally, Stefan K. Iris, CFA was named Senior Vice President and Chief Investment Officer. Iris brings more than 20 years of investment experience to his leadership role. He has been a key member of Acadia’s investment management team since 2010 and has served as Chair of the investment, stock, fixed income and multi-fund committees. Iris is a Chartered Financial Analyst and has a finance degree from Northeastern University and an MBA from Suffolk University.

Acadia Trust, N.A. had been operating as a wholly-owned subsidiary of Camden National Corporation since 2001, and provided comprehensive wealth management, investment management and trust services to individual and institutional clients in Maine, New England and throughout the United States. 

About Camden National Corporation
Camden National Corporation is the holding company of Camden National Bank. Headquartered in Camden, Maine, Camden National Corporation has $3.9 billion in assets and is the largest publicly traded bank holding company in Northern New England (NASDAQ: CAC). Camden National Bank is a full-service community bank that employs over 650 people, features a network of 61 banking centers and 84 ATMs in Maine, and offers state-of-the-art online and mobile banking resources and comprehensive wealth management, as well as investment, insurance and financial planning services through its division, Camden Financial Consultants. To learn more, visit here

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