Greg Dufour | President and CEO |
Mike Archer | CFO |
Steve Moss | Raymond James |
Damon DelMonte | KBW |
Matthew Breese | Stephens Inc |
[Call Started Abruptly] At this time | I would like to turn the conference over to Greg Dufour. Please go ahead - sir. |
Thank you, and welcome everyone to Camden National Corporation's Fourth Quarter 2022 Earnings Call.
For the fourth quarter of 2022, we reported net income of $15.4 million or earnings per diluted share of $1.05, which was 8% better than the third quarter of ‘22. This resulted in total annual earnings for 2022 of $61.4 million, an 11% decrease from our record earnings of $69 million recorded in 2021 and a 9% decrease in diluted earnings per share over the same period. We were pleased with our fourth quarter performance in several areas. Non-interest income, excluding a $903,000 pre-tax security loss was $10.7 million and was on the higher end of our expectations.