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    David Mirochnick

    Research Analyst at Stephens Inc.

    David Mirochnick is an Associate and equity research analyst at Stephens Inc., specializing in coverage of East Coast regional banks and financial institutions. His coverage includes companies such as Camden National Bank, with frequent contributions to industry earnings calls and sector research reports. Mirochnick began his equity research career at UBS as an associate analyst focusing on managed care, later joining Stephens where he has continued his sector coverage and demonstrated strong analytical expertise. He holds FINRA registration, maintains active securities licenses, and is recognized within the firm for his diligent sector analysis and client service.

    David Mirochnick's questions to CAMDEN NATIONAL (CAC) leadership

    David Mirochnick's questions to CAMDEN NATIONAL (CAC) leadership • Q3 2024

    Question

    David Mirochnick questioned the outlook for deposit betas in a falling rate environment, the bank's pricing actions following recent Fed cuts, and the strategy for the securities portfolio.

    Answer

    CFO Michael Archer stated that as a liability-sensitive bank, Camden National expects margin expansion as rates fall. He noted that after repricing 30% of non-maturity deposits, balances have remained stable. He also mentioned the securities-to-assets ratio is targeted around 20%, with ~$10 million in monthly runoff. CEO Simon Griffiths added that pricing discipline is balanced with maintaining strong customer relationships.

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