Unassociated Document
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
11-K
(Mark
one)
|
x
|
ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For the
fiscal year ended: December 31, 2008
OR
|
¨
|
TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For the
transition period from _____ to _____
Commission
file number 01-28190
Full
title of the plan and the address of the plan, if different from that of the
issuer named below:
Camden
National Corporation
Retirement
Savings 401(k) Plan
Name of
issuer of the securities held pursuant to the plan and the address of its
principal executive office:
Camden
National Corporation
2
Elm Street
Camden,
Maine 04843
REQUIRED
INFORMATION
The
Camden National Corporation Retirement Savings 401(k) Plan (the Plan) is subject
to the Employee Retirement Income Security Act of 1974 (ERISA). Therefore, in
lieu of the requirements of Items 1-3 of Form 11-K, the financial statements and
supplemental schedule of the Plan for the two fiscal years ended December 31,
2008 and 2007, have been prepared in accordance with the financial reporting
requirements of ERISA, are attached hereto as Appendix 1 and incorporated herein
by reference.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Committee to
administer the Camden National Corporation Retirement
Savings 401(k) Plan has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
Camden
National Corporation Retirement Savings 401(k) Plan
By:
|
/s/Carolyn C. Crosby
|
|
Date: |
June 25, 2009
|
|
|
|
|
|
Carolyn
C. Crosby
|
|
|
|
Vice
President Human Resources
|
|
|
By:
|
/s/Gregory A. Dufour
|
|
Date: |
June 25, 2009
|
|
|
|
|
|
Gregory
A. Dufour |
|
|
|
President
& CEO
|
|
|
Appendix
1
CAMDEN
NATIONAL CORPORATION
RETIREMENT
SAVINGS 401(k) PLAN
FINANCIAL
STATEMENTS
and
SUPPLEMENTAL
INFORMATION
December
31, 2008 and 2007
With
Report of Independent Registered Public Accounting Firm
INDEPENDENT
AUDITORS' REPORT
Audit
Committee
Camden
National Corporation Retirement Savings 401(k) Plan
We have
audited the accompanying statements of net assets available for benefits of
Camden National Corporation Retirement Savings 401(k) Plan as of December 31,
2008 and 2007, and the related statements of changes in net assets available for
benefits for the years then ended. These financial statements are the
responsibility of the Plan’s management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We
conducted our audits in accordance with U.S. generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our
opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of Camden National
Corporation Retirement Savings 401(k) Plan as of December 31, 2008 and 2007 and
the changes in net assets available for benefits for the years then ended in
conformity with U.S. generally accepted accounting principles.
Our
audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) is presented for the purpose of additional analysis and is not a
required part of the basic financial statements, but is supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This supplementary information is the responsibility of the Plan's
management. The supplemental information has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
/s/ Berry, Dunn, McNeil &
Parker
Portland,
Maine
June 25,
2009
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Audit
Committee
Camden
National Corporation Retirement Savings 401(k) Plan
We have
audited the accompanying statements of net assets available for benefits of
Camden National Corporation Retirement Savings 401(k) Plan as of December 31,
2008 and 2007, and the related statements of changes in net assets available for
benefits for the years then ended. These financial statements are the
responsibility of the Plan’s management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of Camden National
Corporation Retirement Savings 401(k) Plan as of December 31, 2008 and 2007 and
the changes in net assets available for benefits for the years then ended in
conformity with U.S. generally accepted accounting principles.
Our
audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) is presented for the purpose of additional analysis and is not a
required part of the basic financial statements, but is supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This supplementary information is the responsibility of the Plan's
management. The supplemental information has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
/s/ Berry, Dunn, McNeil &
Parker
Portland,
Maine
June 25,
2009
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Statements
of Net Assets Available for Benefits
December
31, 2008 and 2007
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Investments,
at fair value
|
|
$ |
18,059,669 |
|
|
$ |
19,074,476 |
|
|
|
|
|
|
|
|
|
|
Contributions
receivable
|
|
|
|
|
|
|
|
|
Participants'
|
|
|
3 |
|
|
|
34,894 |
|
Employer
|
|
|
454,041 |
|
|
|
324,718 |
|
|
|
|
|
|
|
|
|
|
Total
contributions receivable
|
|
|
454,044 |
|
|
|
359,612 |
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits
|
|
$ |
18,513,713 |
|
|
$ |
19,434,088 |
|
The accompanying notes are an integral part of these financial
statements.
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Statements
of Changes in Net Assets Available for Benefits
Years
Ended December 31, 2008 and 2007
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Additions
to net assets attributed to:
|
|
|
|
|
|
|
Investment
income (loss)
|
|
|
|
|
|
|
Interest
and dividends
|
|
$ |
1,278,658 |
|
|
$ |
1,035,798 |
|
Net
depreciation in fair value of investments
|
|
|
(7,304,535 |
) |
|
|
(373,783 |
) |
|
|
|
|
|
|
|
|
|
Net
investment income (loss)
|
|
|
(6,025,877 |
) |
|
|
662,015 |
|
|
|
|
|
|
|
|
|
|
Contributions
|
|
|
|
|
|
|
|
|
Employer
|
|
|
1,106,921 |
|
|
|
782,209 |
|
Participants'
|
|
|
1,419,464 |
|
|
|
1,078,386 |
|
Rollovers
|
|
|
7,611 |
|
|
|
287,561 |
|
|
|
|
|
|
|
|
|
|
Total
contributions
|
|
|
2,533,996 |
|
|
|
2,148,156 |
|
|
|
|
|
|
|
|
|
|
Transfer
from Union Trust Company 401(k) Profit Sharing Plan
|
|
|
5,269,724 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Total
additions
|
|
|
1,777,843 |
|
|
|
2,810,171 |
|
|
|
|
|
|
|
|
|
|
Deductions
from net assets attributed to:
|
|
|
|
|
|
|
|
|
Benefits
paid to participants
|
|
|
2,690,518 |
|
|
|
2,491,127 |
|
Administrative
fees
|
|
|
7,700 |
|
|
|
7,334 |
|
|
|
|
|
|
|
|
|
|
Total
deductions
|
|
|
2,698,218 |
|
|
|
2,498,461 |
|
|
|
|
|
|
|
|
|
|
Increase
(decrease) in net assets available for benefits
|
|
|
(920,375 |
) |
|
|
311,710 |
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
of year
|
|
|
19,434,088 |
|
|
|
19,122,378 |
|
|
|
|
|
|
|
|
|
|
End
of year
|
|
$ |
18,513,713 |
|
|
$ |
19,434,088 |
|
The accompanying notes are an integral part of these financial
statements.
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Notes
to Financial Statements
December
31, 2008 and 2007
The
following description of the Camden National Corporation Retirement Savings
401(k) Plan (the Plan) provides only general information. Participants should
refer to the Plan agreement for a more complete description of the Plan’s
provisions.
General
The Plan
is a defined contribution plan covering all employees of Camden National
Corporation (the Corporation) and its subsidiaries, Camden National Bank and
Acadia Trust, N.A., who have at least 30 days of service and are age eighteen or
older. Under the provisions of the Plan, investment activity is directed by
individual participants. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).
Contributions
Participants
may contribute up to the maximum percentage of compensation and dollar amount
permissible under Section 402(g) of the Internal Revenue Code (Code), not to
exceed the limits of Code Sections 401(k), 404, and 415. Participants may direct
investments into various investment options offered by the Plan. The Corporation
matches 100% of participants’ contributions up to 3% of salary, and 50% of
participants’ contributions that exceed 3% of salary, but do not exceed 5% of
salary. The Corporation may also make additional discretionary matching and
profit sharing contributions. Contributions are subject to certain
limitations.
Vesting
Participants
are immediately vested in their voluntary contributions plus actual earnings
thereon, safe harbor matching contributions and discretionary matching
contributions. Vesting in the Corporation profit sharing portion of their
accounts, plus earnings thereon, is based on a six-year graded vesting
schedule.
Forfeited
Accounts
At
December 31, 2008 and 2007 forfeited nonvested accounts totaled $43,975 and
$69,838, respectively. These accounts will be used to reduce future
employer contributions. Also, in 2008 and 2007, employer
contributions were reduced by $43,975 and $69,838, respectively, from forfeited
nonvested accounts.
Participant
Loans
Participants
may borrow from their accounts a minimum of $1,000 up to a maximum equal to the
lesser of $50,000 or 50 percent of their vested account balance, whichever is
less. The loans are secured by the balance in the participant’s account and bear
interest at rates which are commensurate with local prevailing rates as
determined by the plan administrator. Principal and interest is paid ratably
through payroll deductions.
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Notes
to Financial Statements
December
31, 2008 and 2007
Administrative
Expenses
Substantially
all administrative expenses are paid by the Corporation.
Payment of
Benefits
On
termination of service due to death, disability or retirement, a participant may
elect to receive an amount equal to the value of the participant’s vested
interest in his or her account in either a lump-sum amount, or in installment
payments over any period that does not exceed the life expectancy of the
beneficiary. For termination of service due to other reasons, a participant may
receive the value of the vested interest in his or her account as a lump-sum
distribution.
2.
|
Summary of Accounting
Policies
|
Benefit
Payments
Benefits
are recorded when paid.
Use of
Estimates
The
preparation of financial statements in conformity with U.S. generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities, and changes therein, and
disclosure of contingent assets and liabilities at the date of the financial
statements. Actual results could differ from those estimates.
Investments
are reported at fair value. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. See
Note 9 for discussion of fair value measurements.
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Notes
to Financial Statements
December
31, 2008 and 2007
Investments
that represent 5% or more of the Plan’s net assets are as follows:
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Camden
National Bank FDIC Insured Fund
|
|
$ |
3,506,935 |
|
|
$ |
2,214,584 |
|
Fidelity
Contrafund
|
|
|
1,684,448 |
|
|
|
2,211,100 |
|
Vanguard
Total Bond Market Index Fund
|
|
|
1,163,163 |
|
|
|
562,429 |
|
Vanguard
500 Index Fund
|
|
|
1,158,885 |
|
|
|
1,264,434 |
|
Fidelity
Low-Priced Stock Fund
|
|
|
1,141,300 |
|
|
|
1,794,554 |
|
Dodge
& Cox Stock Fund
|
|
|
1,133,334 |
|
|
|
1,623,107 |
|
Dodge
& Cox International Stock Fund
|
|
|
1,073,233 |
|
|
|
1,771,047 |
|
Vanguard
LifeStrategy Moderate Growth Fund
|
|
|
1,008,417 |
|
|
|
272,683 |
|
Franklin
Mutual Series Beacon Fund
|
|
|
680,277 |
|
|
|
1,306,924 |
|
Brandywine
Fund
|
|
|
662,217 |
|
|
|
1,169,934 |
|
The
Plan’s investments (including gains and losses on investments bought and sold,
as well as held during the year) depreciated in value as follows:
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Mutual
funds
|
|
$ |
(7,280,102 |
) |
|
$ |
(28,525 |
) |
Common
stock
|
|
|
(24,433 |
) |
|
|
(345,258 |
) |
|
|
|
|
|
|
|
|
|
|
|
$ |
(7,304,535 |
) |
|
$ |
(373,783 |
) |
The Plan
obtained its latest determination letter dated January 2009, in which the
Internal Revenue Service stated that the Plan, as then designed, was in
compliance with the applicable requirements of the Internal Revenue Code. The
Corporation believes that the Plan is currently designed and being operated in
compliance with the applicable requirements of the Internal Revenue
Code.
Although
it has not expressed any intention to do so, the Corporation has the right under
the Plan to discontinue its contributions at any time and to terminate the Plan
subject to the provisions set forth in ERISA.
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Notes
to Financial Statements
December
31, 2008 and 2007
6.
|
Party-In-Interest
Transactions
|
Acadia
Trust, N.A. (Acadia) is the Plan’s trustee. Employees of Acadia are also covered
by the Plan because Acadia is a wholly-owned subsidiary of Camden National
Corporation. Compensation for services provided is paid directly by the
Corporation.
The Plan
did not own any shares of Camden National Corporation common stock at December
31, 2008. The Plan owned 19,111 shares of Camden National Corporation
common stock valued at $542,561 at December 31, 2007. The shares of Camden
National Corporation common stock were sold during 2008. Also
included in the Plan’s net assets at December 31, 2008 and 2007 were $3,506,935
and $2,214,584 of Camden National Bank FDIC Insured Fund, respectively.
Accordingly, transactions within these funds qualify as
party-in-interest.
7.
|
Risks and
Uncertainties
|
The Plan
invests in various investment securities. Investment securities are exposed to
various risks such as interest rate, market, and credit risks. Due to the level
of risk associated with certain investment securities, it is at least reasonably
possible that changes in the values of investment securities will occur in the
near term and that such changes could materially affect participants’ account
balances and the amounts reported in the statement of net assets available for
benefits.
Due to
Union Bankshares Company merger with Camden National Corporation, Union Trust
Company (a wholly owned subsidiary of Union Bankshares Company) rolled over the
Union Trust Company 401(k) Profit Sharing Plan into the Camden National
Corporation Retirement Savings 401(k) Plan, with the actual transfer of funds
occurring on May 23, 2008. Plan assets of $5,269,724 were transferred to
Acadia Trust, N.A., the trustee of the Camden National Corporation Retirement
Savings 401(k) Plan.
9.
|
Fair Value
Measurements
|
Financial Accounting Standards Board
Statement No. 157, Fair Value
Measurements (FASB No.
157), establishes a framework for measuring fair value. That framework
provides a fair value hierarchy that prioritizes the
inputs to valuation
techniques used to measure fair value. The hierarchy gives the highest
priority to unadjusted quoted prices in active markets for identical assets
or liabilities (level 1 measurements) and the
lowest priority to unobservable inputs (level 3 measurements). The three levels of the
fair value hierarchy under FASB No. 157 are described
below:
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Notes
to Financial Statements
December
31, 2008 and 2007
Level 1: Inputs to the valuation
methodology are unadjusted quoted prices for identical assets or
liabilities in active markets that the Plan has
the ability to
access.
Level 2: Inputs to the valuation
methodology include:
Quoted prices for similar assets or
liabilities in active markets;
Quoted prices for identical or similar
assets or liabilities in inactive markets;
Inputs other than quoted prices that are observable for the asset
or liability;
Inputs that are derived principally
from or corroborated by observable market data by correlation or other means.
If the asset or liability has a
specified (contractual) term, the Level 2 input must be observable for substantially the full term
of the asset or liability.
Level 3: Inputs to the valuation
methodology are unobservable and significant to the fair value measurement.
The asset’s or liability’s fair value measurement level within
the fair value hierarchy is
based on the lowest level of any input that is significant to the fair
value measurement. Valuation techniques used need to maximize the use of
observable inputs and minimize the use of unobservable inputs.
Following is a description of the valuation methodologies used
for assets measured at fair value at December 31, 2008.
Mutual funds and
money market funds: Valued
at the net asset value (‘NAV”) of shares held by the Plan at
year end.
Participant
loans: Valued at amortized
cost, which approximates
fair value.
The methods described above
may produce a fair value calculation that may not be
indicative of net realizable value or reflective of future fair
values. Furthermore, while the Plan believes its valuation methods
are appropriate and
consistent with other market participants, the use of different
methodologies or assumptions to determine the
fair value of certain financial instruments could result in a different
fair value measurement at the reporting date.
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Notes
to Financial Statements
December
31, 2008 and 2007
The following table sets forth by
level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31,
2008:
|
|
Assets at Fair Value as of December 31, 2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds
|
|
$ |
13,361,021 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
13,361,021 |
|
Participant
loans
|
|
|
- |
|
|
|
- |
|
|
|
436,964 |
|
|
|
436,964 |
|
Money market / cash management
|
|
|
4,261,684 |
|
|
|
- |
|
|
|
- |
|
|
|
4,261,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets at fair value
|
|
$ |
17,622,705 |
|
|
$ |
- |
|
|
$ |
436,964 |
|
|
$ |
18,059,669 |
|
Level 3 Fair Value Changes
The table below sets forth a summary of
changes in the fair value of the Plan’s level 3 assets for the
year ended December 31, 2008.
|
|
Level 3 Assets
|
|
|
|
Year Ended
|
|
|
|
December 31, 2008
|
|
|
|
Participant Loans
|
|
|
|
|
|
Balance, beginning of
year
|
|
$ |
296,760 |
|
Purchases, sales, issuances and
settlements (net)
|
|
|
140,204 |
|
|
|
|
|
|
Balance, end of year
|
|
$ |
436,964 |
|
Schedule 1
CAMDEN
NATIONAL CORPORATION RETIREMENT SAVINGS 401(k) PLAN
Schedule
H, Line 4i – Schedule of Assets (Held at End of Year)
EIN:
01-0413282 Plan #002
Required
for IRS Form 5500
December
31, 2008
|
|
|
|
(c)
|
|
|
|
|
|
|
|
|
|
Description
of Investment
|
|
|
|
|
|
|
|
(b)
|
|
Including
Maturity Date,
|
|
|
|
(e)
|
|
|
|
Identity
of Issue, Borrower,
|
|
Rate
of Interest, Collateral,
|
|
(d)
|
|
Current
|
|
(a)
|
|
Lessor,
or Similar Party
|
|
Par
or Maturity Value
|
|
Cost
(1)
|
|
Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Matrix
Cash Money Market Account
|
|
Money
Market
|
|
|
|
$ |
237,843 |
|
*
|
|
Camden
National Bank FDIC Insured Fund (2)
|
|
Money
Market
|
|
|
|
|
3,506,935 |
|
|
|
Vanguard
Retirement Savings Trust
|
|
Money
Market
|
|
|
|
|
516,864 |
|
|
|
Vanguard
Total Bond Market Index Fund
|
|
Mutual
Fund
|
|
|
|
|
1,163,163 |
|
|
|
Vanguard
Wellesley Income Fund
|
|
Mutual
Fund
|
|
|
|
|
923,290 |
|
|
|
Vanguard
LifeStrategy Income Fund
|
|
Mutual
Fund
|
|
|
|
|
235,287 |
|
|
|
Vanguard
LifeStrategy Conservative Growth Fund
|
|
Mutual
Fund
|
|
|
|
|
282,377 |
|
|
|
Vanguard
LifeStrategy Moderate Growth Fund
|
|
Mutual
Fund
|
|
|
|
|
1,008,417 |
|
|
|
Vanguard
LifeStrategy Growth Fund
|
|
Mutual
Fund
|
|
|
|
|
134,931 |
|
|
|
Vanguard
Short-Term Bond Index Fund
|
|
Mutual
Fund
|
|
|
|
|
728,165 |
|
|
|
Vanguard
500 Index Fund
|
|
Mutual
Fund
|
|
|
|
|
1,158,885 |
|
|
|
Franklin
Mutual Series Beacon Fund
|
|
Mutual
Fund
|
|
|
|
|
680,277 |
|
|
|
Brandywine
Fund
|
|
Mutual
Fund
|
|
|
|
|
662,217 |
|
|
|
Fidelity
Low-Priced Stock Fund
|
|
Mutual
Fund
|
|
|
|
|
1,141,300 |
|
|
|
T.
Rowe Price New Horizons Fund
|
|
Mutual
Fund
|
|
|
|
|
559,869 |
|
|
|
Artisan
International Fund
|
|
Mutual
Fund
|
|
|
|
|
404,795 |
|
|
|
Dodge
& Cox International Stock Fund
|
|
Mutual
Fund
|
|
|
|
|
1,073,233 |
|
|
|
Fidelity
Contrafund
|
|
Mutual
Fund
|
|
|
|
|
1,684,448 |
|
|
|
Dodge
& Cox Stock Fund
|
|
Mutual
Fund
|
|
|
|
|
1,133,334 |
|
|
|
Royce
Total Return Fund
|
|
Mutual
Fund
|
|
|
|
|
387,033 |
|
|
|
Federated
U.S. Treasury Cash Reserve
|
|
Cash
management asset
|
|
|
|
|
42 |
|
*
|
|
Participant
loans
|
|
4.00%
- 9.25%, 10 years
|
|
|
|
|
436,964 |
|
|
|
|
|
or
less maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
18,059,669 |
|
*
|
Indicates
party-in-interest to the Plan.
|
(1)
|
Participant
directed, information not
required.
|
(2)
|
FDIC
Insured up to $250,000 per
participant
|
Consent
of Independent Registered Public Accounting Firm
As the
independent registered public accountants of Camden National Corporation, we
hereby consent to the incorporation by reference in Registration Statement No.
333-108214 of Camden National Corporation
on Form S-8 of our report dated June 25, 2009, appearing in this Annual Report
on Form 11-K of Camden National Corporation Retirement Savings 401(k) Plan for
the year ended December 31, 2008.
/s/
Berry, Dunn, McNeil & Parker
Portland,
Maine
June 25,
2009