Camden National Corp. reported unaudited earnings results for the fourth quarter and twelve months ended December 31, 2011. For the quarter, the company reported net income of $5.839 million or $0.76 per basic and diluted share compared to $6.426 million or $0.84 per basic and diluted share for the same period of 2010. Net interest income was $18.450 million compared to $18.791 million for the same period of 2010. Income before income taxes was $8.375 million against $9.059 million for the same period of 2010. Return on average equity was 10.52% against 12.40% for the same period a year ago. Return on average tangible equity was 13.24% against 15.96% for the same period a year ago. Return on average assets was 1.02% against 1.10% for the same period a year ago. Net income for the fourth quarter of 2011 decreased $587,000, or 9%, compared to the fourth quarter of 2010 primarily due to a decline in net interest income, an increase in the loan loss provision, a $2.0 million gain on sale of securities, and a $2.3 million expense related to the prepayment of wholesale borrowings. The decrease in net interest income was primarily related to the decline in average earning assets of $43.2 million. Book value per share at December 31, 2011 was $28.56 compared to $26.90 for the same period a year ago. Tangible book value per share at December 31, 2011 was $22.66 compared to $20.91 for the same period a year ago. For the twelve months, the company reported net income of $26.177 million or $3.41 per basic and diluted share compared to $24.766 million or $3.23 per basic and diluted share for the same period of 2010. Net interest income was $75.219 million compared to $74.290 million for the same period of 2010. Income before income taxes was $37.958 million against $35.879 million for the same period of 2010. Return on average equity was 12.16% against 12.42% for the same period a year ago. Return on average tangible equity was 15.42% against 16.15% for the same period a year ago. Return on average assets was 1.13% against 1.09% for the same period a year ago. The increase in net interest income was primarily due to growth in average earning assets of $39.2 million, partially offset by a 3 basis point decline in net interest margin. The board of directors approved a dividend of $0.25 per share, payable on January 31, 2012, to shareholders of record on January 17, 2012. In addition, the board of directors authorized a special dividend of $0.50 per share, payable on December 30, 2011. This resulted in an annual dividend yield of 4.60% for the year, based on the December 30, 2011, closing price of $32.60 per share for Camden National's common stock, as reported on NASDAQ.