Financial Analysis

BUSINESS COMBINATIONS On January 2, 2025, the Company completed its acquisition of Northway Financial, Inc. (Northway) in an all-stock transaction in which Northway merged with and into the Company, with the Company surviving (the Merger). The Company acquired 100% of Northways outstanding common stock. Additionally, Northway Bank, a wholly owned subsidiary of Northway, merged with and into Camden National Bank, with Camden National Bank continuing as the surviving bank. The Merger qualified as a tax-free reorganization for federal income tax purposes. At the effective time of the Merger, each share of Northways common stock was converted into the right to receive 0.83 shares of the Companys common stock, with cash paid in lieu of any fractional shares. Each share of the Companys common stock issued and outstanding immediately prior to the effective time of the Merger remained outstanding and was unchanged by the Merger. The total consideration payable by the Company was $96.5 million, based on the Companys closing share price of $42.25, as reported by Nasdaq on January 2, 2025, the Merger closing date. In total, the Company issued 2.3 million shares of its common stock as Merger consideration, representing 14% of the outstanding shares of the Companys common stock at the time of issuance. The Merger expanded the Companys presence in New Hampshire by adding 17 branches, and increased the Companys size and scale. This expansion provides the opportunity to build a greater recog …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

COMMITMENTS AND CONTINGENCIES Commitments In the normal course of business, the Company is a party to both on- and off-balance sheet financial instruments involving, to varying degrees, elements of credit risk and interest rate risk in addition to the amounts recognized in the consolidated statements of condition. The following is a summary of the Company's contractual off-balance sheet commitments as of the dates indicated: December 31, (In thousands) 2025 2024 Commitments to extend credit $ 880,176 $ 774,659 Standby letters of credit 4,691 4,553 Total $ 884,867 $ 779,212 The Companys commitments to extend credit from its lending activities do not necessarily represent future cash requirements since certain of these instruments may expire without being funded and others may not be fully drawn upon. These commitments are subject to the Companys credit approval process, including an evaluation of the customers creditworthiness and related collateral requirements. Commitments generally have fixed expiration dates or other termination clauses. Standby letters of credit are conditional commitments issued to guarantee the performance of a borrower to a third party. In the event of nonperformance by the borrower, the Company would be required to fund the commitment and would be entitled to the underlying collateral, if applicable, which generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, and/or real es …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

BORROWINGS The following table summarizes the Company's borrowings for the dates indicated: December 31, 2025 Contractual Maturity December 31, 2024 (Dollars in thousands) Outstanding Balance Weighted Average Contractual Rate 2026 2027 2028 2029 2030 Thereafter Outstanding Balance Weighted Average Contractual Rate Short-Term Borrowings: Customer repurchase agreements (1) $ 254,780 0.99 % $ 254,780 $ $ $ $ $ $ 175,621 1.64 % FHLBB and correspondent bank overnight borrowings (2) 327,000 3.90 % 327,000 325,000 4.62 % Total short-term borrowings $ 581,780 2.63 % $ 581,780 $ $ $ $ $ $ 500,621 3.57 % Long-Term Borrowings: FHLBB borrowings (3) $ 1,000 % $ $ $ $ $ 1,000 $ $ % Total long-term borrowings $ 1,000 % $ $ $ $ $ 1,000 $ $ % Junior Subordinated Debentures: CCTA (2) $ 36,083 5.35 % $ $ $ $ $ $ 36,083 $ 36,083 4.58 % UBCT (2) 8,248 5.59 % 8,248 8,248 5.38 % NCT III (2)(4) 8,592 5.58 % 8,592 % NCT IV (2)(4) 8,592 5.47 % 8,592 % Total junior subordinated debentures $ 61,515 5.43 % $ $ $ $ $ $ 61,515 $ 44,331 4.73 % (1) The Company assumed customer repurchase agreements of $65.5 million through the acquisition of Northway on January 2, 2025. Refer to Note 11 for further discussion of the Company's customer repurchase agreements and to Note 2 for further details of the acquisition of Northway. (2) The Company has interest rate swap contracts on certain borrowings. Refer to Note 13 for further discussion of derivative instruments. (3) The Company has a borrowing through the FHLBB C …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents the revenue streams with the scope of ASC 606 for the periods indicated: For the Year Ended December 31, (In thousands) Location on Consolidated Statements of Income 2025 2024 2023 Debit card interchange income Debit card income $ 15,272 $ 12,657 $ 12,613 Services charges on deposit accounts Service charges on deposit accounts 9,851 8,444 7,839 Fiduciary services income Income from fiduciary services 7,630 7,270 6,669 Investment program income Brokerage and insurance commissions 7,015 5,535 4,650 Other non-interest income Other income 1,971 1,782 1,796 Total non-interest income within the scope of ASC 606 41,739 35,688 33,567 Total non-interest income (loss) not in scope of ASC 606 (1) 10,783 8,851 (2,533) Total non-interest income $ 52,522 $ 44,539 $ 31,034 (1) Includes pre-tax losses on the sale of investment securities of $0, $0 and $10.3 million, for the years ended December 31, 2025, 2024 and 2023, respectively.

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STOCK-BASED COMPENSATION PLANS On April 26, 2022, the shareholders of the Company approved the Camden National Corporation 2022 Equity and Incentive Plan (2022 Plan), which replaced the Companys 2012 Equity and Incentive Plan (2012 Plan). The total number of shares reserved and available for issuance under the 2022 Plan was 500,000, plus shares that are subject to awards granted under the 2012 Plan that cease to be subject to such awards by forfeiture or otherwise after the effective date of the 2022 Plan. Awards are authorized to be granted in the form of dividend equivalent rights, stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based awards and other stock-based or cash-based awards, and the exercise price will not be less than 100% of the fair market value on the date of grant of a share of stock. No stock option granted will be exercisable more than ten years after the date the stock option was granted. On May 20, 2025, the shareholders of the Company approved the first amendment to the Companys 2022 Equity and Incentive Plan to (i) increase the number of shares reserved for and available for issuance under the Plan by 560,000 additional shares and (ii) extend the term of the Plan to ten years from the date of shareholder approval of the Amendment. On May 1, 2012, the shareholders of the Company approved the 2012 Plan, the maximum number of shares of stock reserved and available for issuance under the 2012 Plan was 1.2 mill …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

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. Fair value is best determined using quoted market prices. However, in many instances, quoted market prices are not available. In such instances, fair values are determined using various valuation techniques. Various assumptions and observable inputs must be relied upon in applying these techniques. GAAP establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. GAAP permits an entity to choose to measure eligible financial instruments and other items at fair value. The Company has elected the fair value option for its loans held for sale. Electing the fair value option for loans held for sale enables the Companys financial position to more clearly align with the economic value of the actively traded asset. The fair value hierarchy for valuation of an asset or liability is as follows: Level 1: Valuation is based upon unadjusted quoted prices in active markets for identical assets and liabilities that the entity has the ability to access as of the measurement date. Level 2: Valuation is determined from quoted prices for similar assets or liabilities in active markets, from quoted prices for identical or similar instruments in markets that are not act …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS Goodwill The carrying value of goodwill as of December 31, 2025 and 2024 is shown in the table below: (In thousands) Goodwill Balance at December 31, 2024 $ 94,697 2025 Activity (1) 56,808 Balance at December 31, 2025 $ 151,505 (1) On January 2, 2025, the Company completed the acquisition of Northway and generated $56.8 million of goodwill. Refer to Note 2 for additional details. The Company completed its annual goodwill impairment test as of November 30, 2025, 2024 and 2023 and determined goodwill was not impaired. Core Deposit Intangible Assets The carrying value and accumulated amortization of CDI assets were as follows at December 31, 2025 and 2024: Core Deposit Intangible (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Balance at December 31, 2024 $ 6,451 $ (6,036) $ 415 2025 Activity (1) 48,058 (5,893) 42,165 Balance at December 31, 2025 $ 54,509 $ (11,929) $ 42,580 (1) On January 2, 2025, the Company completed its acquisition of Northway and recorded CDI assets of $48.1 million that will amortize over ten years. Refer to Note 2 for further details. For the years ended December 31, 2025, 2024 and 2023, the Company recorded amortization expense of $5.9 million, $556,000 and $592,000, respectively. Amortization expense for each period was presented within non-interest expense on the consolidated statements of income For the years ended December 31, 2025, 2024 and 2023, there were no events or ci …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The current and deferred components of income tax expense on the consolidated statements of income were as follows: For the Year Ended December 31, (In thousands) 2025 2024 2023 Current: Federal $ 10,779 $ 11,047 $ 7,990 State 2,100 1,111 1,156 Total 12,879 12,158 9,146 Deferred: Federal 3,346 291 1,277 State (2,730) 7 30 Total 616 298 1,307 Income tax expense $ 13,495 $ 12,456 $ 10,453 Cash paid for income taxes (net of refunds) consisted of the following: For the Year Ended December 31, (In thousands) 2025 Federal $ 4,600 Maine 950 New Hampshire 303 Other states 301 Total $ 6,154 A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before income tax expense, after the prospective adoption of ASU 2023-09 is as follows: For the Year Ended December 31, 2025 (Dollars in thousands) Amount Rate Income before income tax expense (domestic) $ 78,655 Tax at U.S. statutory rate $ 16,518 21.0 % State taxes, net of federal benefit (1)(2) (498) (0.1) % Tax credit benefits (668) (0.8) % Nontaxable and nondeductible items: Tax exempt income (1,111) (1.4) % Income from life insurance (722) (0.9) % Share-based awards (44) (0.1) % Merger and acquisition costs 28 % Other (8) % Income tax expense $ 13,495 17.2 % (1) The states that contribute to the majority of the tax effect (greater than 50%) in this category include Maine and New Hampshire. (2) Includes a $2.4 million deferred tax valuation …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES The Company enters into noncancellable lease arrangements primarily for office space, space for ATM locations and some of its branches. Certain lease arrangements contain clauses requiring increasing rental payments over the lease term, which may be linked to an index (commonly the Consumer Price Index) or contractually stipulated. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company had a lease agreement to rent office space as a sub-tenant from another company in which a director of the Company serves as the Chairman and Chief Executive Officer of the other company, the original lease term extended through 2027. In the fourth quarter of 2025, the Company terminated the lease agreement and under the terms of the contract, paid the remaining lease obligation of $72,000. The following ROU assets and lease liabilities have been reported within other assets and other liabilities on the consolidated statements of condition as of the dates indicated: December 31, 2025 2024 (In thousands) Consolidated Statements of Condition Line Item Operating Leases (1) Finance Leases Total Operating Leases Finance Leases Total ROU assets Other Assets $ 15,630 $ 6,103 $ 21,733 $ 10,349 $ 6,347 $ 16,696 Lease liabilities Other Liabilities $ 14,631 $ 6,337 $ 20,968 $ 8,929 $ 6,573 $ 15,502 (1) The increase in 2025 was primarily driven by the Northway Acquisition. Refer to Note 2 for further details. In accordance …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements: The following provides a brief description of recently issued accounting pronouncements that have been adopted by the Company during: ASU No. 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures (ASU 2023-09). The FASB issued ASU 2023-09 to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is to be applied on a prospective basis and is effective for annual periods beginning after December 15, 2024 with early adoption permitted. The adoption of ASU 2023-09 did not have a material impact to the Companys consolidated financial statements. Refer to Note 20 for updated income tax disclosures that reflect the adoption of ASU 2023-09. ASU 2025-08, Financial Instruments - Credit Losses (Topic 326): Purchased Loans (ASU 2025-08). The FASB issued ASU 2025-08 to better reflect the economics of acquired assets by accounting for most acquired financial assets under the gross-up approach. In accordance with the amendments in this update, loans (excluding credit cards) acquired without credit deterioration (non-PCD) and deemed seasoned ( i.e ., purchased at least 90 days after origination and the acquirer was not involved in the origination of the loans) are accounted for using the gross-up approach at acquisition to enhance comparability and consistency in the accounting …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

EMPLOYEE BENEFIT PLANS 401(k) and Profit Sharing Plan The Company has a 401(k) plan and the majority of its employees participate in it. Employees may contribute pre-tax contributions to the 401(k) plan up to the maximum amount allowed by federal tax laws. The Company makes matching contributions of up to 4% of an employees eligible compensation. For the years ended December 31, 2025, 2024, and 2023, expenses under the 401(k) plan matching contributions totaled $2.2 million, $1.7 million, and $1.7 million, respectively. The Company, at its discretion, can make profit sharing contributions to employees' 401(k) accounts in addition to its regular 401(k) plan matching contribution. For the years ended December 31, 2025, 2024 and 2023, the Company did not make any profit sharing contributions to employee accounts. Supplemental Executive Retirement Program (SERP) and Other Postretirement Benefit Plan The Company sponsors unfunded, non-qualified SERPs for certain former officers. These agreements were designed to make up the shortfall (when compared to a non-highly compensated employee) in replacing income at retirement due to Internal Revenue Service ( IRS) compensation and benefit limits under the 401(k) plan and Social Security. The SERP provides for a minimum 15-year guaranteed benefit for all vested participants. There are no new entrants to the Companys SERP, and effective December 31, 2023, there were no active participants in the SERP. The Company also provides medical and …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS The Company has disaggregated its revenue from contracts with customers into categories based on the nature of the revenue. The categorization of revenues from contracts with customer within the scope of ASC 606 closely aligns with the presentation revenue categories presented within non-interest income on the consolidated statements of income. The following table presents the revenue streams with the scope of ASC 606 for the periods indicated: For the Year Ended December 31, (In thousands) Location on Consolidated Statements of Income 2025 2024 2023 Debit card interchange income Debit card income $ 15,272 $ 12,657 $ 12,613 Services charges on deposit accounts Service charges on deposit accounts 9,851 8,444 7,839 Fiduciary services income Income from fiduciary services 7,630 7,270 6,669 Investment program income Brokerage and insurance commissions 7,015 5,535 4,650 Other non-interest income Other income 1,971 1,782 1,796 Total non-interest income within the scope of ASC 606 41,739 35,688 33,567 Total non-interest income (loss) not in scope of ASC 606 (1) 10,783 8,851 (2,533) Total non-interest income $ 52,522 $ 44,539 $ 31,034 (1) Includes pre-tax losses on the sale of investment securities of $0, $0 and $10.3 million, for the years ended December 31, 2025, 2024 and 2023, respectively. In each of the revenue streams identified above, there were no significant judgments made in determining or allocating the transaction price, as the consid …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Acronyms and Abbreviations. The acronyms and abbreviations identified below are used in the notes to the consolidated financial statements. The following is provided to aid the reader and provide a reference page when reviewing the notes to the consolidated financial statements. Acronym Description Acronym Description AFS: Available-for-sale HTM: Held-to-maturity ALCO: Asset/Liability Committee LGD: Loss given default ACL: Allowance for credit losses LIBOR: London Interbank Offered Rate AOCI: Accumulated other comprehensive income (loss) LTIP: Long-Term Performance Share Plan ASC: Accounting Standards Codification Management ALCO: Management Asset/Liability Committee ASU: Accounting Standards Update MBS: Mortgage-backed security Bank: Camden National Bank, a wholly-owned subsidiary of Camden National Corporation MSPP: Management Stock Purchase Plan BOLI: Bank-owned life insurance N/A: Not applicable Board ALCO: Board of Directors' Asset/Liability Committee NCT III: Northway Capital Trust III, an unconsolidated entity formed by Northway Financial, Inc., acquired by the Company on January 2, 2025 BTFP: Bank Term Funding Program, introduced by the Federal Reserve Bank in March 2023 NCT IV: Northway Capital Trust IV, an unconsolidated entity formed by Northway Financial, Inc., acquired by the Company on January 2, 2025 CCTA: Camden Capital Trust A, an unconsolidated entity formed by Camden National Corporation Northway North …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

BUSINESS COMBINATIONS On January 2, 2025, the Company completed its acquisition of Northway Financial, Inc. (Northway) in an all-stock transaction in which Northway merged with and into the Company, with the Company surviving (the Merger). The Company acquired 100% of Northways outstanding common stock. Additionally, Northway Bank, a wholly owned subsidiary of Northway, merged with and into Camden National Bank, with Camden National Bank continuing as the surviving bank. The Merger qualified as a tax-free reorganization for federal income tax purposes. At the effective time of the Merger, each share of Northways common stock was converted into the right to receive 0.83 shares of the Companys common stock, with cash paid in lieu of any fractional shares. Each share of the Companys common stock issued and outstanding immediately prior to the effective time of the Merger remained outstanding and was unchanged by the Merger. The total consideration payable by the Company was $96.5 million, based on the Companys closing share price of $42.25, as reported by Nasdaq on January 2, 2025, the Merger closing date. In total, the Company issued 2.3 million shares of its common stock as Merger consideration, representing 14% of the outstanding shares of the Companys common stock at the time of issuance. The Merger expanded the Companys presence in New Hampshire by adding 17 branches, and increased the Companys size and scale. This expansion provides the opportunity to build a greater recog …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

COMMITMENTS AND CONTINGENCIES Commitments In the normal course of business, the Company is a party to both on- and off-balance sheet financial instruments involving, to varying degrees, elements of credit risk and interest rate risk in addition to the amounts recognized in the consolidated statements of condition. The following is a summary of the Company's contractual off-balance sheet commitments as of the dates indicated: (In thousands) September 30, 2025 December 31, 2024 Commitments to extend credit $ 921,108 $ 774,659 Standby letters of credit 5,088 4,553 Total $ 926,196 $ 779,212 The Companys commitments to extend credit from its lending activities do not necessarily represent future cash requirements since certain of these instruments may expire without being funded and others may not be fully drawn upon. These commitments are subject to the Companys credit approval process, including an evaluation of the customers creditworthiness and related collateral requirements. Commitments generally have fixed expiration dates or other termination clauses. Standby letters of credit are conditional commitments issued to guarantee the performance of a borrower to a third party. In the event of nonperformance by the borrower, the Company would be required to fund the commitment and would be entitled to the underlying collateral, if applicable, which generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

BORROWINGS The following summarizes the Company's borrowings as presented on the consolidated statements of condition as of the dates indicated: (In thousands) September 30, 2025 December 31, 2024 Short-Term Borrowings: FHLBB Borrowings (1) $ 493,500 $ 325,000 Customer Repurchase Agreements (2) 254,992 175,621 Total Short-Term Borrowings $ 748,492 $ 500,621 Long-Term Borrowings: FHLBB Borrowings $ 1,000 $ Total Long-Term Borrowings $ 1,000 $ Junior Subordinated Debentures: CCTA (1) $ 36,083 $ 36,083 UBCT (1) 8,248 8,248 NCT III (1)(3) 8,555 NCT IV (1)(3) 8,555 Total Junior Subordinated Debentures $ 61,441 $ 44,331 (1) The Company has interest rate swap contracts on certain borrowings. Refer to Note 10 for further discussion of derivative instruments. (2) The Company assumed customer repurchase agreements of $65.5 million through the acquisition of Northway on January 2, 2025. Refer to Note 8 for further discussion of the Company's customer repurchase agreements and to Note 3 for further details of the acquisition of Northway. (3) The Company assumed junior subordinated debentures through the acquisition of Northway on January 2, 2025. Refer to Note 3 for further details on the accounting for the junior subordinated debentures on the acquisition date. Junior Subordinated Debentures The Company assumed $10.0 million of junior subordinated debentures issued to NCT III, which issued trust preferred securities to the public. The Company acquired all outstanding equity interest in …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents the revenue streams within the scope of ASC 606 for the periods indicated: Location on Consolidated Statements of Income Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2025 2024 2025 2024 Debit card interchange income Debit card income $ 3,704 $ 3,169 $ 10,583 $ 9,104 Services charges on deposit accounts Service charges on deposit accounts 2,570 2,168 7,293 6,308 Fiduciary services income Income from fiduciary services 1,884 1,817 5,703 5,436 Investment program income Brokerage and insurance commissions 1,850 1,414 5,341 4,094 Other non-interest income Other income 546 508 1,511 1,371 Total non-interest income within the scope of ASC 606 10,554 9,076 30,431 26,313 Total non-interest income not in scope of ASC 606 3,571 2,330 7,957 6,060 Total non-interest income $ 14,125 $ 11,406 $ 38,388 $ 32,373

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FAIR VALUE MEASUREMENT AND DISCLOSURE 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. Fair value is best determined using quoted market prices. However, in many instances, quoted market prices are not available. In such instances, fair values are determined using various valuation techniques. Various assumptions and observable inputs must be relied upon in applying these techniques. GAAP establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. GAAP permits an entity to choose to measure eligible financial instruments and other items at fair value. The Company has elected the fair value option for its loans held for sale. Electing the fair value option for loans held for sale enables the Companys financial position to align more clearly with the economic value of the actively traded asset. The fair value hierarchy for valuation of an asset or liability is as follows: Level 1 : Valuation is based upon unadjusted quoted prices in active markets for identical assets and liabilities that the entity has the ability to access as of the measurement date. Level 2 : Valuation is determined from quoted prices for similar assets or liabilities in active markets, from quoted prices for identical or similar instrument …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS The carrying value of goodwill as of September 30, 2025 and December 31, 2024 is shown in the table below: (In thousands) Goodwill Balance at December 31, 2024 $ 94,697 2025 Activity (1) 56,808 Balance at September 30, 2025 $ 151,505 (1) On January 2, 2025, the Company completed the acquisition of Northway and generated $56.8 million of goodwill. Refer to Note 3 for additional details. The carrying value of core deposit intangible assets at September 30, 2025 and December 31, 2024 is shown in the table below: Core Deposit Intangible (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Balance at December 31, 2024 $ 6,451 $ (6,036) $ 415 2025 activity (1) 48,058 (4,420) 43,638 Balance at September 30, 2025 $ 54,509 $ (10,456) $ 44,053 (1) On January 2, 2025, the Company completed its acquisition of Northway and recorded CDI assets of $48.1 million that will amortize over a ten year period. Refer to Note 3 for further details. For the three months ended September 30, 2025 and 2024, the Company recorded amortization expense of $1.5 million and $139,000, respectively. For the nine months ended September 30, 2025 and 2024, the Company recorded amortization expense of $4.4 million and $417,000, respectively. Amortization expense for each period was presented within non-interest expense on the consolidated statements of income. The following table reflects the estimated remaining amortization expense to be reco …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

The following provides a brief description of recently issued accounting pronouncements that have yet to be adopted by the Company: ASU No. 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures (ASU 2023-09). The FASB issued ASU 2023-09 to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is to be applied on a prospective basis and is effective for annual periods beginning after December 15, 2024 with early adoption permitted. ASU 2023-09 will impact income tax disclosures, and the Company does not expect a material impact to the Companys consolidated financial statements. ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) (ASU 2024-03). The FASB issued ASU 2024-03 to improve disclosures about a public business entitys expenses and to address requests from investors for more detailed information about certain types of expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026 with early adoption permitted. The Company does not expect ASU 2024-03 to have a material impact to the disclosures in its consolidated financial statements. ASU No. 2025-06, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (ASU …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

EMPLOYEE BENEFIT PLANS The Company sponsors unfunded, non-qualified SERPs for certain former officers of the Company. The components of net periodic pension were as follows for the following periods: Location on Consolidated Statements of Income Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2025 2024 2025 2024 Interest cost Other expenses $ 229 $ 181 $ 686 $ 542 Total $ 229 $ 181 $ 686 $ 542 The Company provides certain medical and life insurance benefits to eligible current and former employees. The components of postretirement benefit costs were as follows for the following periods: Location on Consolidated Statements of Income Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2025 2024 2025 2024 Service cost Salaries and employee benefits $ 2 $ 2 $ 6 $ 6 Interest cost Other expenses 40 38 122 115 Recognized net actuarial gain Other expenses (1) (1) (4) (3) Amortization of prior service credit Other expenses (7) (7) (18) (19) Total $ 34 $ 32 $ 106 $ 99

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REVENUE FROM CONTRACTS WITH CUSTOMERS A portion of the Company's non-interest income is derived from contracts with customers, and, as such, the revenue recognized depicts the transfer of promised goods or services to its customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company considers the terms of the contract and all relevant facts and circumstances when applying this guidance. The Company has disaggregated its revenue from contracts with customers into categories based on the nature of the revenue. The categorization of revenues from contracts with customers that are within the scope of ASC 606 closely aligns with the presentation of revenue categories presented within non-interest income on the consolidated statements of income. The following table presents the revenue streams within the scope of ASC 606 for the periods indicated: Location on Consolidated Statements of Income Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2025 2024 2025 2024 Debit card interchange income Debit card income $ 3,704 $ 3,169 $ 10,583 $ 9,104 Services charges on deposit accounts Service charges on deposit accounts 2,570 2,168 7,293 6,308 Fiduciary services income Income from fiduciary services 1,884 1,817 5,703 5,436 Investment program income Brokerage and insurance commissions 1,850 1,414 5,341 4,094 Other non-interest income Other income 546 508 1,511 1,371 Total n …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing