Camden, Maine, November 5, 2012 – Gregory A. Dufour, president and chief executive officer of Camden National Bank, recently announced that the bank received a rating of “Outstanding” by the Office of the Comptroller of the Currency (“OCC”) as the result of Camden National’s most recent Community Reinvestment Act (CRA) performance evaluation. This is the third consecutive time that Camden National Bank has earned an “Outstanding” rating, the highest rating possible granted by the OCC. CRA performance evaluations are performed every three years.
“Our recent CRA rating of ‘Outstanding’ by the OCC is a reflection of our commitment to Maine people, businesses and communities,” said Dufour. “We are proud to have received this recognition from the OCC for the third consecutive evaluation, and supporting Maine people and providing community development services will remain top priorities throughout our organization.”
Congress enacted the CRA in 1977 in order to ensure that banks meet the credit needs of their entire communities, including low- and moderate-income neighborhoods. Some of the major factors that contributed to the bank’s “Outstanding” rating include:
- Camden National’s “excellent” lending activity
- Distribution of the bank’s small loans to businesses was excellent and the distribution of farm and home mortgage loans was also good
- Camden National’s high levels of community development investments and community development services, such as providing affordable housing for low- or moderate-income individuals, financing small businesses and farms, and revitalizing or stabilizing low- or moderate-income geographies
“It is so wonderful to see that during these difficult economic times we have been able to stay focused on our community commitment through our strong commitment to lending, our community development investing and the significant level of community development services that we provide in our communities,” said Joanne Campbell, Camden National’s executive vice president of risk management. “Our Core Purpose states: through each interaction, we will enrich the lives of people, help businesses succeed and vitalize our communities. This rating is reflective of our stakeholders living by our Core Purpose, each and every day.”
About Camden National Corporation
Camden National Corporation, recently recognized by Forbes magazine as one of “America’s Most Trustworthy Companies,” is the holding company employing more than 500 Maine residents for two financial services companies including Camden National Bank and the wealth management company, Acadia Trust, N.A. Camden National Bank is a full-service community bank with a network of 50 banking offices throughout Maine. Acadia Trust offers investment management and fiduciary services with offices in Portland and Ellsworth. Located at Camden National Bank, Camden Financial Consultants offers full-service brokerage and insurance services.