Exhibit 99.1
Camden National Corporation Announces Quarterly Dividend
CAMDEN, Maine--(BUSINESS WIRE)--Nov. 27, 2007--Robert W. Daigle,
president and chief executive officer of Camden National Corporation
(Amex: CAC; the "Company"), announced today that the Board of
Directors of the Company declared a $0.24 per share dividend payable
on January 31, 2008 for shareholders of record on December 31, 2007.
The change in record date from the Company's past practice is a result
of the Company's previously announced merger with Union Bankshares
Company. The intent is to align the Company's record date with Union
Bankshares Company's record date in light of the anticipated closing
of the merger during January 2008. Following the closing of the
proposed merger, the Company will resume its regular dividend
schedule, subject to the approval and declaration by the Company's
Board of Directors.
Camden National Corporation, a 2006 Best Places to Work in Maine
company headquartered in Camden, Maine, and listed on the American
Stock Exchange(R) under the symbol CAC, is the holding Company for a
family of two financial services companies, including: Camden National
Bank (CNB), a full-service community bank with 27 banking offices
serving coastal, western, central and eastern Maine, and recipient of
the Governor's Award for Business Excellence in 2002, and Acadia
Trust, N.A., offering investment management and fiduciary services
with offices in Portland and Bangor. Acadia Financial Consultants is a
division of CNB, offering full-service brokerage services.
Additional Information and Where to Find It
In connection with the proposed Merger of Union Bankshares with
and into Camden, Camden and Union Bankshares have filed relevant
materials with the SEC, including the registration statement on Form
S-4 containing a proxy statement/prospectus dated October 23, 2007.
INVESTORS ARE URGED TO READ THESE MATERIALS BECAUSE THEY CONTAIN
IMPORTANT INFORMATION ABOUT CAMDEN, UNION BANKSHARES AND THE MERGER.
The proxy statement/prospectus and other relevant materials, and any
other documents filed by Camden or Union Bankshares with the SEC, may
be obtained free of charge at the SEC's website at www.sec.gov. In
addition, investors may obtain free copies of the documents filed with
the SEC by Camden by directing a written request to Camden National
Corporation, Two Elm Street, Camden, Maine 04843, Attention: Suzanne
Brightbill, and free copies of the documents filed with the SEC by
Union Bankshares by directing a written request to Union Bankshares
Company, 66 Main Street, Ellsworth, Maine 04605, Attention: Clerk.
Participants in Solicitation
Information about the directors and executive officers of Camden
and Union Bankshares and information about any other persons who may
be deemed participants in this transaction is included in the proxy
statement/prospectus dated October 23, 2007. You can find information
about Camden's directors and executive officers in the proxy statement
for Camden's annual meeting of stockholders filed with the SEC on
March 21, 2007. You can find information about Union Bankshares's
directors and executive officers in the proxy statement/prospectus
dated October 23, 2007. You can obtain free copies of these documents
from the SEC, Camden or Union Bankshares using the contact information
above.
Forward-Looking Statements
This report contains statements that may be considered
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Forward-looking statements can be identified by the use of
the words "believe," "expect," "anticipate," "intend," "estimate,"
"assume," "will," "should," and other expressions which predict or
indicate future events or trends and which do not relate to historical
matters. Forward-looking statements should not be relied on, because
they involve known and unknown risks, uncertainties and other factors,
some of which are beyond the control of Camden and Union Bankshares.
These risks, uncertainties and other factors may cause the actual
results, performance or achievements of Camden and Union Bankshares to
be materially different from the anticipated future results,
performance or achievements expressed or implied by the
forward-looking statements.
Some of the factors that might cause these differences include the
following: (i) failure of the parties to satisfy the closing
conditions in the Merger Agreement in a timely manner or at all; (ii)
failure of the shareholders of Union Bankshares to approve the Merger
Agreement; (iii) failure to obtain governmental approvals of the
Merger, or imposition of adverse regulatory conditions in connection
with such approvals; (iv) disruptions in the businesses of the parties
as a result of the pendency of the Merger; (v) integration costs
following the merger, (vi) changes in general, national or regional
economic conditions; (vii) changes in loan default and charge-off
rates; (viii) reductions in deposit levels necessitating increased
borrowing to fund loans and investments; (ix) changes in interest
rates; (x) changes in laws and regulations; (xi) changes in the size
and nature of the Camden's competition; and (xii) changes in the
assumptions used in making such forward-looking statements. Other
factors could also cause these differences. For more information about
these factors please see Camden's and Union Bankshares' filings with
the SEC, including their Annual Report on Form 10-K on file with the
Securities and Exchange Commission ("SEC"). All of these factors
should be carefully reviewed, and readers should not place undue
reliance on these forward-looking statements. These forward-looking
statements were based on information, plans and estimates at the date
of this report, and the Company does not promise to update any
forward-looking statements to reflect changes in underlying
assumptions or factors, new information, future events or other
changes.
CONTACT: Camden National Corporation
Suzanne Brightbill, 207-230-2120
Public Relations Officer
sbrightbill@camdennational.com