05:17 PM EST, 01/02/2025 (MT Newswires) -- Camden National ( CAC ) said late Thursday that its merger with Northway Financial has closed.

Under the terms of the deal, each outstanding share of Northway common stock was converted into the right to receive 0.83 Camden National ( CAC ) common share, with cash to be paid in lieu of fractional shares. Camden National ( CAC ) issued about 2.3 million common shares as merger consideration, it said.

The merged entity has total assets of roughly $7 billion and 73 branches in Maine and New Hampshire, Camden National ( CAC ) said.