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SBM buy dilutes Camden National TBV by 12%

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SBM buy dilutes Camden National TBV by 12%

Camden NationalCorp.'s acquisition of SBM Financial Inc. diluted its tangible book value by12%, instead of the originally projected 13.6%. However, the company nowexpects the 14% accretion to 2016 EPS to decrease to 11%, it disclosed at itsApril 26 shareholder meeting.

Maine-based Camden National the SBM in October 2015. The dealvalue had been estimated at $135 million. It eventually climbed to $137 million.