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    Matthew Renck

    Managing Director and Senior Equity Research Analyst at Keefe, Bruyette & Woods (KBW)

    Matthew Renck is a Managing Director and Senior Equity Research Analyst at Keefe, Bruyette & Woods (KBW), specializing in the U.S. regional and community banks sector. He covers a range of financial institutions including Independent Bank Corp, and has contributed to KBW's industry outlooks and stock recommendation reports, playing a key role in analyst calls and published research on topics such as ROTCE and the housing market. Renck has been with KBW for several years, advancing through analyst roles and frequently representing the firm in earnings calls and published outlooks. He holds recognized industry credentials, including FINRA securities licenses, and is listed as a key research contact for major sector outlook publications.

    Matthew Renck's questions to CAMDEN NATIONAL (CAC) leadership

    Matthew Renck's questions to CAMDEN NATIONAL (CAC) leadership • Q2 2025

    Question

    Matthew Renck from Keefe, Bruyette & Woods (KBW) asked about the progress of wealth management conversations in the New Hampshire market and its future growth potential. He also inquired about other technology investments beyond the new mobile app that could drive efficiencies or revenue.

    Answer

    President & CEO Simon Griffiths explained that while wealth management is seeing nice growth in the core Maine footprint, the immediate focus in New Hampshire is on commercial lending and home equity, with wealth expansion in NH being more of a plan for next year. Griffiths also highlighted other successful technology investments, including the Terrafina online account opening platform, which now originates nearly 10% of new accounts, and new digital tools like 'Roundup' and 'Zogo' that are driving customer engagement.

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    Matthew Renck's questions to CAMDEN NATIONAL (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 /MI/ (IBCP) leadership

    Matthew Renck's questions to INDEPENDENT BANK CORP /MI/ (IBCP) leadership • Q2 2025

    Question

    Matthew Renck of Keefe, Bruyette & Woods followed up on capital management, asking if the bank would remain active with share buybacks while also seeking M&A opportunities. He also inquired about the specific new technologies that were recently implemented to assist customers and associates.

    Answer

    EVP & CFO Gavin Mohr explained that buybacks are evaluated daily like M&A and that at the current stock price, which is outside their comfortable earn-back range, buybacks would likely be limited in the short term. President & CEO William Kessel detailed the technology rollouts, which include an AI chat function on the website, dozens of internal AI use cases for customer service and product recommendations, and technology to significantly reduce loan processing times.

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    Matthew Renck's questions to INDEPENDENT BANK CORP /MI/ (IBCP) leadership • Q2 2025

    Question

    Matthew Renck of Keefe, Bruyette & Woods asked about the bank's capital management strategy, specifically whether share buybacks would continue alongside the search for inorganic growth opportunities. He also requested more detail on the new technologies implemented during the quarter.

    Answer

    EVP & CFO Gavin Mohr explained that while buybacks are evaluated daily, they are currently limited because the stock's price is outside the range for a reasonable earn-back. President & CEO William Kessel detailed the new technologies, which include an AI chat function on the website, several dozen internal AI use cases to improve customer service and identify product opportunities, and new technology to accelerate loan processing.

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    Matthew Renck's questions to INDEPENDENT BANK CORP /MI/ (IBCP) leadership • Q2 2025

    Question

    Matthew Renck of Keefe, Bruyette & Woods followed up on capital management, asking if share buybacks would continue alongside the search for M&A. He also requested more detail on the new technologies implemented during the quarter to assist customers and associates.

    Answer

    EVP & CFO Gavin Mohr explained that buybacks are evaluated daily and will be limited if the stock trades in its current range, which is outside their comfortable earn-back period. President & CEO William Kessel detailed recent technology rollouts, including an AI chat function on the website, internal AI use cases for identifying next-best products, and technology to reduce loan processing times.

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    Matthew Renck's questions to INDEPENDENT BANK CORP /MI/ (IBCP) leadership • Q2 2025

    Question

    Matthew Renck from Keefe, Bruyette & Woods, filling in for Damon DelMonte, asked about capital management, specifically if the company would continue share buybacks while also seeking M&A opportunities. He also inquired about the new technologies implemented during the quarter to assist customers and associates.

    Answer

    EVP & CFO Gavin Mohr explained that buybacks are evaluated daily and modeled like M&A, requiring a reasonable earn-back period. He noted that at the current stock price, buybacks would likely be limited in the short term. President & CEO William Kessel detailed the new technologies, including an AI chat function on the website, several dozen internal AI use cases for customer service and product recommendations, and technology to reduce loan processing and underwriting times.

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    Matthew Renck's questions to INDEPENDENT BANK CORP /MI/ (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 /MI/ (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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