PENDING BRANCH DIVESTITURE (Notes)

6 Months Ended

Jun. 30, 2013

Pending branch divestiture [Abstract]

PENDING BRANCH DIVESTITURE

PENDING BRANCH DIVESTITURE

On May 29, 2013, Camden National Bank (the "Bank"), a subsidiary of Camden National Corporation, entered into a definitive agreement for Skowhegan Savings Bank to purchase the Bank's Farmington, Kingfield, Phillips, Rangeley and Stratton branches. Included in the transaction are the branch deposits of approximately $86.9 million, business loans and certain consumer loans of $43.7 million and real estate and equipment of $600,000. The purchase price represents a 3.5% premium on deposits, par value on the loan portfolio and book value for the real estate. The sale is expected to be completed in the fourth quarter of 2013, subject to regulatory approval.