Camden National Corp., the parent company for Camden National Bank, has merged with Northway Financial Inc., the parent company of Northway Bank. This combined bank will have approximately $7 billion in assets and 73 branches in New Hampshire and Maine, according to a press release.
Northway will convert its banking services to Camden National in mid-March. Each outstanding share of Northway common stock has been converted into 0.83 shares of Camden National common stock.
“We are excited to have successfully completed Camden National’s merger with Northway and, in doing so, to strategically bolster our New Hampshire presence, creating a premier publicly-traded, northern New England bank,” Simon Griffiths, president and CEO of Camden National, said in the release. “We remain committed to executing our long-term strategy of deepening customer relationships through advice-based conversations and exceptional customer service.”
