CACMEDIUM SIGNALFINANCIAL10-K

CAC completed the integration of its Northway Financial acquisition, driving meaningful growth across key balance sheet metrics and profitability.

The successful integration of Northway's $1.2 billion in assets and $971.9 million in deposits has meaningfully expanded CAC's franchise, adding 17 branches and strengthening its Northern New England market position. The acquisition appears to be performing well operationally, contributing to solid growth in net interest income and overall profitability while credit quality metrics improved substantially.

Comparing 2026-03-06 vs 2025-03-07View on EDGAR →
FINANCIAL ANALYSIS

CAC's financial performance reflects the successful integration of the Northway acquisition, with total assets growing to $7.0 billion and deposits expanding to $5.5 billion, while stockholders equity increased notably to $696.6 million. Net interest income grew meaningfully to $320.7 million and net income rose to $65.2 million, demonstrating the accretive nature of the deal. The provision for credit losses declined substantially to $1.2 million, suggesting improved credit quality, though the company reduced its cash position and modestly increased total debt as part of funding the expansion.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
+82.6%
$5.9M→$10.8M

Debt increased 82.6% — substantial leverage increase; assess whether deployed for growth or covering losses.

Provision for Credit Losses
P&L
-73.5%
$4.4M→$1.2M

Provisions reduced 73.5% — improving credit quality or reserve release boosting reported earnings.

Cash & Equivalents
Balance Sheet
-34.9%
$103.0M→$67.0M

Cash declined 34.9% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Stockholders Equity
Balance Sheet
+31.1%
$531.2M→$696.6M

Equity base grew 31.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Interest Income
P&L
+28.5%
$249.6M→$320.7M

Net interest income grew 28.5% — benefiting from rate environment or loan book expansion.

Net Income
P&L
+22.9%
$53.0M→$65.2M

Net income grew 22.9% — bottom-line growth signals improving overall business health.

Total Assets
Balance Sheet
+20.1%
$5.8B→$7.0B

Asset base grew 20.1% — expansion through organic growth, acquisitions, or capital deployment.

Total Deposits
Balance Sheet
+19.5%
$4.6B→$5.5B

Deposits grew 19.5% — expanding customer base or increased trust in the institution.

Total Liabilities
Balance Sheet
+19%
$5.3B→$6.3B

Liabilities increased 19% — monitor debt-to-equity ratio and interest coverage.

Revenue
P&L
+17%
$35.7M→$41.7M

Revenue growing 17% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2026-03-06
PRIOR — 2025-03-07
ADDED
In addition, statements regarding the potential effects of notable national and global current events, including hostilities in Iran and recent rulings on the permissibility of certain tariffs, on the Company s business, financial condition, liquidity and results of operations may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond the Company's control.
The acquisition of Northway added $971.9 million of deposits and $1.2 billion total assets to our balance sheet, and expanded our presence in New Hampshire by adding 17 branches to our network.
Management s Discussion and Analysis of Financial Condition and Results of Operations and Note 2 of the consolidated financial statements for additional details regarding the Northway acquisition.
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REMOVED
In addition, statements regarding the potential effects of notable national and global current events on the Company s business, financial condition, liquidity and results of operations may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond the Company's control.
Statements relating to the Company's recent acquisition of Northway Financial, Inc.
The acquisition of Northway added $971.9 million of deposits and $1.2 billion total assets to our balance sheet, as of January 2, 2025.
The acquisition also expanded our presence in New Hampshire by adding 17 branches to our network as of January 2, 2025.
Management s Discussion and Analysis of Financial Condition and Results of Operations-Introductory Note and Note 23 of the consolidated financial statements for additional details regarding the Northway acquisition.
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