The Camden National Bank (ME)

Overview / Commentary
2 Elm Street
Camden, ME 04843

The Camden National Bank (ME) is headquartered in CAMDEN and is the 2nd largest bank in the state of Maine. It is also the 254th largest bank in the nation. It was established in 1875 and as of December of 2023, it had grown to 596 employees at 58 locations. The Camden National Bank (ME) has a B+ health rating.

They're Just Like All The Others...

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Yup, Camden National has finally lowered itself to the level of the national behemoth banks. Differentiating factors were the ATM fee reimbursements and free checking. Now, that's gone, based on a letter I received today. I suppose it doesn't matter a whole lot as there are other financial institutions in the Rockland, Maine area that will--including where my spouse banks. So, it's over to them. It was a good year since I gave up on TD Bank in Rockland--now there's no daylight between the two.

3 Lies And You Are Out.

I dont mind paying fees I am responsible for... but this bank will do anything to have you open an account... even promise you $100.00 for a promotion that is still advertised in the window, even though it expired 2 weeks ago and no, once you open the account and set up for a bunch of direct deposits and withdrawals.. you will never get the money. I got charged $70.00 today. One was for an ACH I canceled because I sold the car so no longer had the car payment. I asked them to return it.. I knew I would get charged $35.00 . I asked If it would cost me more than that. Manager said No. ( I have convo recorded) Next day the car payment for the imaginary car was returned $35.00 fee applied... also bc I had an auto payment for $4.99 come out.. I was also charged for that. Did not matter that had they listened to me and acted on the day I called,I could have avoided that fee. Oh no.. when you call.. there is no reasoning with them and they do not listen and do what would make sense. Instead they tell you all about how it was your fault one way or another and we should have known.. and I could have done this this and this to you!!!They really say that.. They list all the ways they could have made it worse for you, and reasons why they believe you should be praising and thanking them for charging you outrageous fees constantly!!! That is like me saying I could have encased your atm machine in a block of cement last night and really inconvenienced your customers and blamed you by blocking your entire drive way so nobody could bank there but I didnt so consider yourself lucky!! ..They pay highest lowest and no it is not to make sure your item is paid to help you. It is to collect as many fees from you as they possibly can because they are greedy theives!!! They are!! They take your money no matter how many things you do correctly they find a way and do not ask permission!! They then promise you when you call in that you will not get anymore, and then charge more and defend the lie they told That is stealing!! They dont follow their own promises. Ive never had bank employees lie to me like the camden national bank employees. Glad to be out of there and so are the other 4 people going to close their accounts this week. I will continue to proactively deter people from making the same mistake I did.. Even If I have to give up 4 hours a night devoted to making sure nobody opens accounts at this bank.. And .. I keep my promises!!

Overdraft Fees Handed Out Without Discretion

I had heard frequently upon moving to Maine that the local Bank was terrible to deal. However, since it is the only bank available to the Island residents it is not as if there is a choice.
The clerks are mostly local, professional, courteous and really attempt to solve any problems that may arise. Unfortunately they are hampered by a mainland Manager who despite being an employee for twenty years at this bank or perhaps because of that fact, is not only arrogant but takes any complaint as if it is against her personally. Re-training or perhaps another career might be in order here?

The bank's overdraft policy of charging $35.00 no matter how small the overdraft seems to be not only unethical but unprincipled. I frequently check the account when I know I am going to use it as I always leave a small balance therein. I have discovered that sometimes even pending items are not posted so the balance is off. This is a problem that I know must be caused by the algorithms of the program that the bank is using and I wonder if it is purposefully designed to create that outcome.
I have filed a complaint with the Federal Consumer Financial Protection bureau which will follow up on this. For those that are not aware of this Agency the phone number is 855-411-2372

The other item that I find excessive is the charge for a bank draft of $4.00 or perhaps it is now $5.00.

I am sincerely pleased that I kept all my accounts open at the Credit Union I have used for many years in another State. They always call if there is a problem so their customer will have the opportunity to transfer money from one in house account to another. And, guess what... no additional charge for that courteous service just a sincere intent to keep their customer base thriving.
I suggest that Camden National Bank could use that Credit Union's service mandate as a goal in keeping with the 'Service' claims that Camden touts so loudly in their advertising and their website.

Do NOT Use This Bank!

I was a long time customer of Bank of America and Camden National bought them out a few years ago in my area so I ended up becoming their customer. I am a full time working mom, college graduate and I've never even had a speeding ticket, yet this bank treated me as if I were a criminal.

I have direct deposit through my work and other income that goes directly into my account each month. A few of the direct deposits were caught up for reasons unbeknownst to me and it got caught late so there were several overdraws on my bank account. This obviously caused several insufficient fund fees which I called the bank about several times and alerted them, worked with them and paid every one as soon as possible (and almost immediately). Though embarrassing as it was, I worked through it and got it all taken care of. I was also going through a divorce at the time which I also made very clear to the bank. After poor customer service throughout this process, I decided to go to another local bank. During the middle of switching all of my accounts over, I was called by a bank manager from Camden (at my place of employment) & subsequently, by a member of their "security team" and essentially called a criminal for "suspicious" activity on my account, I was asked a bunch of questions and clearly warned to be careful with what I'm doing. (whatever that meant). It was very upsetting, to say the least.

Months later, I signed up for a savings account with a new bank for my children to share and was told they could not give me an account because Camden National Bank was saying I owed them outstanding fees on my banking report. WHAT? I had closed the account with a ZERO balance - they actually had to mail me a $.47 check, but somehow months later I "owed them fees". I called the bank to fix the issue and was told it was their mistake and they would fix it, that I did not owe them money. I already knew that but had I not been told by someone at a different bank that they put this on my banking record, I would have had no idea.

Poor, poor business practices. Poor banking, poor customer service and just bad form. The whole experience is still upsetting!



Health Grade Components

FDIC Certificate #4255
Year Established1875
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.8%
Return on Equity - YTD9.57%
Annual Interest Income$226.2MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$5.7B$5.66B
LoansQ4 2023vs Q4 2022$4.07B$3.98B
DepositsQ4 2023vs Q4 2022$4.63B$4.87B
Equity CapitalQ4 2023vs Q4 2022$508.7MM$460.8MM
Loan Loss AllowanceQ4 2023vs Q4 2022$36.9MM$36.9MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$5.2MM$2.8MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Camden National Bank (ME) Savings Account Rates

4.50%*$250k*-High-Yield Savings Account - New Money
OTHER TIERS: 0.01% Up to $2.5k | 4.00% $2.5k - $250k
0.05%*$100k*-Health Savings Account
OTHER TIERS: 0.03% Up to $100k
0.05%$5-Select Savings Club
0.05%*$100k*-Promise Savings Account
OTHER TIERS: 0.02% Up to $5k | 0.03% $5k - $100k
0.05%*$100k*-Business Health Savings Account
OTHER TIERS: 0.03% Up to $100k
0.05%*$100k*-Business Promise Savings Account
OTHER TIERS: 0.02% Up to $5k | 0.03% $5k - $100k
0.03%--Pennys Piggy Bank Savings Club

The Camden National Bank (ME) Money Market Rates

0.20%*$1m*-Business Promise Money Market
OTHER TIERS: 0.05% $25k - $250k | 0.10% $250k - $500k | 0.15% $500k - $1m
0.20%*$1m*-Camden National Bank Money Market
OTHER TIERS: 0.01% Up to $25k | 0.05% $25k - $250k | 0.10% $250k - $500k | 0.15% $500k - $1m

The Camden National Bank (ME) Checking Account Rates

0.05%$2.5k-Non-Profit Checking
0.03%$2.5k-Premier Account

The Camden National Bank (ME) CD Rates

4.75%$1k-7 Month CD Special - New Money
4.35%$1k-9 Month CD Special - New Money

The Camden National Bank (ME) IRA Rates

4.75%$1k-7 Month IRA Special - New Money
4.35%$1k-9 Month IRA Special - New Money


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