Good morning and welcome to the Camden National Corporation Third Quarter 2015 Earnings Conference Call. All participants will be in listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] Note the event is being recorded. Please note that this presentation contains forward-looking statements which involve significant risks and uncertainties. Actual results could differ materially from the results discussed. The risk factors are described in the company’s Annual Report on Form 10K and in other filings with the SEC. Today’s call presenters are Greg Dufour, President, Chief Executive Officer and Director and Deborah Jordan, Chief Operating Officer and Chief Financial Officer. Our first presenter is Greg Dufour, please go ahead.

Great, thank you and good morning. I would like to welcome you all for the first earnings release call held by Camden National Corporation. This morning, I would like to provide an update on our recent acquisition SBM Financial and a subsidiary for The Bank of Maine, provide some market insight and then turn it over to Debbie Jordan for financial update. On Friday, October 16, we finalized the acquisition of SBM Financial, a transaction which we announced back in March of this year. In addition to closing on the transaction that day, we also merged and integrated the Bank of Maine into Camden National Bank. This entailed numerous projects ranging from changing both interior and exterior signage, consolidating four branch locations and a full conversion of our core processing and digital banking platforms. When we announced the transaction in March, we noted two of our strength to minimize the risk of execution where Camden’s previous track record of acquiring whole banks and branches as well as divesting branches. The second strength is that the two banks use the same core processing vendor Jack Henry and Associates as well as several other key systems including debit card processing and mortgage platform processing. I am pleased to report that we had a very successful integration. Over the course of the weekend of the 16, we welcomed 55,000 new customers, 24 banking centers and nearly 200 employees to our organization. The core system conversion went extremely well and in fact the ATMs at our new locations were converted and working that Friday night. One critical integration milestone was the conversation of the Bank of Maine’s web and mobile customers to Camden’s digital experience. We had previously notified customers that they would not be able to access those services from Saturday evening until…

Thank you, Greg and good morning everyone. We are pleased to report strong third quarter results. When excluding non-core items of merger related cost both core operating earnings and core diluted EPS increased 8% from the third quarter of 2015 compared to the third quarter last year. On an operating basis the return on average assets was 97 basis points and the return on average equity was 10.76% for the quarter. The solid performance is the result of revenue growth of 5% with our net interest income increasing 3% and fee income up over 10% compared to the third quarter of 2014. Net interest income reached $20 million for the third quarter as our average loan balances grew 6% to $1.8 billion. The net interest margin of 3.08% for the third quarter of 2015 was down two basis points as our loan yield continues to decline due to the rate environment and a shift to variable rates on commercial deals. We had a nice pick up in fee income for the quarter driven by mortgage banking income of $390,000 as we began selling secondary eligible 30 year mortgage production a share. In addition, we recorded customer loan derivative income of $435,000 as we swap longer term fixed rates on new commercial real estate transactions to LIBOR based pricing. Our loan loss provision is slightly lower than a year ago as we continue to see improvement and off asset quality metrics with lower non performing asset levels, lower past due loans and annualized net charge off ratio at just eight basis points for the quarter. Operating cost were up 5% for the quarter after excluding merger expenses with the primary increase coming from salaries and benefits due to a combination of new position, merit increases and higher incentive compensation due to…

We will now begin the question-and-answer section. [Operator Instructions] The first question comes from Matthew Kelley of Piper Jaffray. Please go ahead.

Yes, good morning.

Good morning there.

Hi, good morning, Greg. Just a question on the SBM deal now being completed, your thoughts on the specialty lending group kind of the medical lending group there that you acquired and your plans for that and when should we learn more about what will transpire there?

Sure. And as you know and as we actually disclosed I believe back in May in an S-4 filing, we said we were going to review the strategic options within that business line. As weighted background, the specialty lending group at the Bank of Maine had some constraint some regulatory wise, some by just the sheer capital level at the Bank of Maine, so we decided to look at that, actually we know a lot more now than we did back in May, a lot more than we did just a few weeks ago post conversion. Right now, we are still going through that analysis, what we want to look at is what is going to be the resourcing capital to scale that up to a business that will be material on the bottom line for us on a net income basis and so we are still going through that as well as look at the other options and I think for folks that know us, we tend to go through these things in a pretty methodical and deliberate way. In reality, I don’t have a huge sense of urgency to have to decide something immediately on that, however, if one get the answers will be right out there in executing whichever way it comes.

Okay. And then can you give us a sense of how much of your loan growth came from some of your newer markets as you push for the South into New Hampshire in particular, how those are progressing?

Sure. I don’t have the exact breakdown off the top of head Matt, you can look to report that a little bit better in the future and maybe beef it up when we file the queue. But what I can tell you, call it from a high level, can the existing Camden structure that we have now which includes the investments and the work that we have been doing in Southern Maine already was primarily was coming from the launching pad of the [indiscernible] branch acquisition 2012 but also our expansion over into Manchester, New Hampshire that we hired an individual and opened an LPO in February 2015. We are seeing a shift that the growth coming from those markets as we anticipated and as anyone would really anticipate when you look at the economic call it structure of northern New England. We are pleased with it, we are finding those markets to be highly competitive. Portland is becoming more and more competitive both with existing competitors and new competitors entering the market. But with all that said, we still see strong growth coming from some of the more core markets, the Midcoast Maine where we have been based out of since our founding in 1875. The Bangor region is showing some good opportunity for us, so in a way even though the split may be more growth coming from Southern Maine, we are not taking our eye off the ball in those other markets even though they may not be as headline grabbing than some of the other ones.

Got it. And then just the last question for Deb, any thoughts now that the deal is done on the tax rate we should be using for full year 2016?

Good question. Actually our year-to-date effective tax rate is about 32.5% and I would view that as a go forward rate for next year, Matt.

Okay, alright. Thank you.

Thank you.

[Operator Instructions] As we have no further questions, this concludes our question-and-answer session. I would like to turn the conference back over to Greg Dufour for any closing remarks.

Great. Well, thank you and I want to thank Matt for your questions as well for the participants who may be listening in and you know again just want to reiterate, we had a very strong conversion. We really had a great launching pad for the future for this organization not only from what we have here in Maine but also other markets as well so we are very, very excited at this point. Thank you all for your time.

The conference has now concluded.