8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 14, 2003

CAMDEN NATIONAL CORPORATION

(Exact name of Registrant as specified in charter)

MAINE

(State or other jurisdiction of incorporation)

01-28190	01-0413282
(Commission file number)	(IRS employer identification no.)
Two Elm Street, Camden, Maine	04843
(Address of principal executive offices)	(Zip Code)

(207) 236-8821

(Registrant’s telephone number, including area code)

Item 9—Regulation FD Disclosure

Camden National Corporation releases a press release announcing the sale of the consumer and business credit card portfolios of its bank subsidiaries to Elan Financial Services.

(c) Exhibits.

99.1    Press Release

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be filed on its behalf by the undersigned thereunto duly authorized.

CAMDEN NATIONAL CORPORATION
By:	/S/    GREGORY A. DUFOUR	Date: August 14, 2003
	Gregory A. Dufour Senior Vice President – Finance, Operations & Technology and Principal Financial Officer

EX-99.1

Camden National Corporation to Establish Credit Card Alliance with Elan Financial Services

CAMDEN, Maine, August 14, 2003 – Camden National Corporation (AMEX: CAC) (the “Company”) signed a definitive agreement to sell the consumer and business credit card portfolios of its bank subsidiaries to Elan Financial Services (“Elan”), one of the largest and most experienced credit card issuers in the nation. The sale is expected to be finalized in the fourth quarter of 2003. As a result of this transaction, the Company estimates a positive impact to earnings of $0.02 to $0.05 per share during the fourth quarter. The Company cautioned that the estimated impact to earnings per share is subject to credit card balances and other contractual requirements at the time the sale is completed and is not indicative, nor should be interpreted as, an estimate of overall earnings or performance of the Company.

The Company has entered into this strategic partnership with Elan to offer a broader credit card product set to both consumer and business customers. The current credit card portfolios currently generate net annual earnings of approximately $200,000, or 1% of total net income for the Company.

Camden National Corporation, headquartered in Camden, Maine, and listed on the American Stock Exchange under the symbol CAC, is the holding company for a family of four financial services companies, including: Camden National Bank (CNB), a full-service community bank with 12 banking offices serving Mid-coast, Kennebunk and Portland Maine, and recipient of the Governor’s Award for Business Excellence in 2002; UnitedKingfield Bank (UKB), a full-service community bank with 16 offices serving Central, Eastern and Western Maine; Acadia Trust, N.A., offering investment management and fiduciary services with offices in Portland and Bangor; Acadia Financial Consultants is a division of CNB and UKB, offering full-service brokerage services.

This press release and the documents incorporated by reference herein contain certain statements that may be considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of the words “believe”, “expect”, “anticipate”, “intend”, “estimate”, “assume”, “will”, “should”, and other expressions which predict or indicate future events or trends and which do not relate to historical matters. Forward-looking statements should not be relied on, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the Company. These risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements.

Some of the factors that might cause these differences include the following: changes in general, national or regional economic conditions; changes in loan default and charge-off rates; reductions in deposit levels necessitating increased borrowing to fund loans and investments; changes in interest rates; changes in laws and regulations; changes in the size and nature of the Company’s competition; and changes in the assumptions used in making such forward-looking statements. Other factors could also cause these differences. For more information about these factors please see our Annual Report on Form 10-K on file with the SEC. All of these factors should be carefully reviewed, and readers should not place undue reliance on these forward-looking statements. These forward-looking statements were based on information, plans and estimates at the date of this press release, and the Company does not promise to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.

Contact Information:

Suzanne Brightbill

(207) 230-2120

sbrightbill@camdennational.com