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    Matthew Renck • Keefe, Bruyette & Woods (KBW)

    Matthew Renck's questions to Camden National Corp (CAC) leadership

    Matthew Renck's questions to Camden National Corp (CAC) leadership • Q2 2025

    Question

    Matthew Renck from Keefe, Bruyette & Woods (KBW), filling in for Damon DelMonte, asked about the progress of wealth management conversations in the new New Hampshire market and inquired about other technology investments beyond the new mobile app that could drive efficiency or revenue.

    Answer

    President & CEO Simon Griffiths explained that while the company is investing in its wealth team in its core Maine market, the immediate focus in New Hampshire is on commercial and home equity lending, with wealth management expansion being a goal for the next year. Griffiths highlighted the success of other tech investments, including the Terrafina online account opening platform, which now sources nearly 10% of new accounts, and new digital features like 'Roundup', which are driving customer engagement and acquisition.

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    Matthew Renck's questions to Independent Bank Corp (Michigan) (IBCP) leadership

    Matthew Renck's questions to Independent Bank Corp (Michigan) (IBCP) leadership • Q2 2025

    Question

    Matthew Renck of Keefe, Bruyette & Woods, on behalf of Damon DelMonte, asked about the bank's capital management strategy, specifically if share buybacks would continue alongside the search for M&A opportunities. He also requested more details on the new technologies implemented during the quarter.

    Answer

    EVP & CFO Gavin Mohr explained that at the stock's current price, buybacks are outside their desired earn-back range and will likely be limited in the short term. President & CEO William Kessel detailed recent technology rollouts, including an AI chat function for customers, internal AI use cases for service and sales, and new technology to reduce loan processing times.

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    Matthew Renck's questions to Independent Bank Corp (Michigan) (IBCP) leadership • Q4 2024

    Question

    Matthew Renck of Keefe, Bruyette & Woods sought clarification on the expected cadence of commercial loan growth in 2025 and whether net interest margin could still expand in a no-rate-cut environment.

    Answer

    EVP, Head of Commercial Banking Joel Rahn responded that while Q1 is generally softer, loan production is typically 'pretty smooth throughout the year,' despite potential quarterly volatility from large payoffs. EVP and CFO Gavin Mohr clarified that in a no-rate-cut scenario, the net interest margin would see a 3 to 5 basis point decline relative to their current forecast, implying slightly less expansion than guided.

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    Matthew Renck's questions to Independent Bank Corp (Michigan) (IBCP) leadership • Q3 2024

    Question

    Filling in for Damon DelMonte, Matthew Renck of Keefe, Bruyette & Woods asked a follow-up on AI implementation, specifically about any regulatory pushback. He also inquired if lower interest rates were making it easier to win entire customer relationships.

    Answer

    President and CEO William Kessel responded that the bank is proactively building its own governance around AI based on risk management best practices and has not received any regulatory pushback. EVP and Head of Commercial Banking Joel Rahn added that as competitors' attractive fixed-rate loans mature, it should create opportunities to win full customer relationships that were previously locked in.

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