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Camden National Corp. Appoints Raina Maxwell to Board of Directors

1. Raina L. Maxwell appointed to Camden National's Board, effective February 2025. 2. Maxwell's experience includes leading customer satisfaction at L.L.Bean, enhancing customer focus. 3. Strategic board changes aim to strengthen Camden National's market position in Northern New England. 4. Maxwell emphasizes innovation and community understanding as key growth drivers for Camden. 5. Camden National's assets totaled approximately $7.0 billion, post merger with Northway Financial.

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FAQ

Why Bullish?

The appointment indicates proactive leadership aimed at enhancing customer satisfaction, which can positively influence customer retention and growth. A historically strong leadership team has correlated with positive stock performance for banks, as seen with similar institutions after strategic hires, driving both customer loyalty and revenue generation.

How important is it?

The significance stems from the strategic focus on innovation and customer satisfaction, likely to improve market position and investor perception. Given that leadership changes can result in market shifts, this appointment holds potential for significant long-term impact.

Why Long Term?

While immediate impacts may be limited, enhancing leadership often lays the groundwork for sustained growth and profitability over time as strategies unfold. Similar board changes in other banks have resulted in improved performance metrics over a longer horizon, supporting CAC's growth trajectory.

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Board welcomes customer experience and financial leader to drive innovation and growth, /PRNewswire/ -- Camden National Corporation ("Camden National") (NASDAQ: CAC), the bank holding company for Camden National Bank, today announced Raina L. Maxwell's appointment to both Camden National Corporation's and Camden National Bank's Board of Directors, effective February 25, 2025. Ms. Maxwell has also been appointed to the Camden National Credit Committee. Raina Maxwell "We're delighted to continue to make strategic additions and enhancements to our Board," said Larry Sterrs, chair of Camden National's Board of Directors. "Raina's extensive experience and dedication to delivering exceptional customer satisfaction, complimented by her strong financial expertise, will play a vital role in guiding our efforts to solidify our position as the premier publicly traded bank in Northern New England." Ms. Maxwell brings over 13 years of experience in strategically building and leading L.L.Bean, Inc.'s award-winning customer satisfaction program. She started her career at L.L.Bean in 2004 in the finance area, where she spent several years overseeing the planning, development, and execution of corporate long-term strategic financial initiatives. Prior to L.L.Bean, Ms. Maxwell held several financial roles at Standard & Poor's Corporate Value Consulting, formerly PricewaterhouseCoopers LLP, and Carana Corporation. "It's truly an honor to join a company that prioritizes its people, embraces technology, and, most importantly, deeply understands its community," said Raina Maxwell. "Camden National Bank aligns with my passion for fostering long-term growth through innovation and exceptional customer service, both in digital interactions and personal, face-to-face experiences."Ms. Maxwell graduated from Leadership Maine, earned her master's degree in business administration from the University of Virginia, and her Bachelor of Arts degree in economics and international affairs from the University of New Hampshire.About Camden National CorporationCamden National Corporation (NASDAQ: CAC) is Northern New England's largest publicly traded bank holding company, with approximately $7.0 billion in assets. Founded in 1875, Camden National Bank has 73 branches in Maine and New Hampshire, is a full-service community bank offering the latest digital banking, complemented by award-winning, personalized service. Additional information is available at CamdenNational.bank.* Member FDIC. Equal Housing Lender.Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.* Total assets and branch data reflect the completion on January 2, 2025, of Camden National Corporation's previously announced merger with Northway Financial, Inc.SOURCE Camden National Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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