Camden National Corp., a $3.9 billion bank holding company, reported net income for the second quarter of 2016 of $9.6 million and diluted earnings per share of $0.92 per share, representing an increase over the first quarter of 2016 of 11 percent and 10 percent, respectively.

Total revenues for the second quarter of 2016 reached $39.1 million, representing a 9 percent increase over prior quarter, and operating expenses were $22.3 million, a decrease of 3 percent over prior quarter. For the second quarter of 2016, the company's return on average assets was 1.01 percent, return on tangible equity was 14.50 percent, and efficiency ratio was 56.53 percent.

"We continue to see positive momentum across the organization with total assets reaching $3.9 billion at June 30, 2016, and strong operating results for the second quarter, highlighting the successes and accomplishments over the past nine months as we continue to leverage the benefits of The Bank of Maine merger and implement several strategic initiatives," said Gregory A. Dufour, president and chief executive officer of Camden National.

"We had solid net income growth of 11 percent for the second quarter of 2016 over last quarter, driven by strong loan growth and higher fee income, as well as lower operating costs."

Dufour added, "We continuously assess all aspects of our business to ensure we are making the right strategic decisions for the longevity of the company, and in doing so, we will close two banking centers located in Bangor and Orono."