Camden National

Live  

Camden National Corporation is a bank holding company headquartered in Camden, Maine. It was founded in 1875 as the Camden National Bank and has since grown to become a major financial institution in Maine with over 60 branches throughout the state. It provides a range of banking and financial services to individuals, businesses, and municipalities, including personal and business checking and savings accounts, loans and mortgages, investment and wealth management, and insurance. Camden National Corporation is publicly traded on the NASDAQ under the ticker symbol CAC. It is committed to supporting local communities and businesses and has received numerous awards and recognition for its responsible and sustainable business practices.

Q2FtZGVuIE 5hdGlvbmFs IGlzIGEgY2 9tcGFueSB0 aGF0IHdvcm tzIGxpa2Ug YSBiaWcgd2 FsbGV0IG9y IGJhbmsgd2 hlcmUgcGVv cGxlIGtlZX AgdGhlaXIg bW9uZXkgc2 FmZS4gSW1h Z2luZSBpZi B5b3UgaGFk IGEgcGlnZ3 kgYmFuaywg YnV0IHdheS BiaWdnZXIg YW5kIGZhbm NpZXIhIFBl b3BsZSBjYW 4gcHV0IHRo ZWlyIG1vbm V5IGluIENh bWRlbiBOYX Rpb25hbCwg YW5kIHRoZS BiYW5rIGhl bHBzIHRoZW 0ga2VlcCB0 cmFjayBvZi BpdC4gVGhl eSBjYW4gYW xzbyBhc2sg Q2FtZGVuIE 5hdGlvbmFs IGZvciBsb2 Fucywgd2hp Y2ggaXMgbG lrZSBib3Jy b3dpbmcgbW 9uZXkgd2hl biB0aGV5IH dhbnQgdG8g YnV5IGEgY2 FyIG9yIGEg aG91c2UgYW 5kIHByb21p c2UgdG8gcG F5IGl0IGJh Y2sgbGF0ZX IuPGJyPkNh bWRlbiBOYX Rpb25hbCBt YWtlcyBtb2 5leSBpbiBh IGZldyB3YX lzLiBXaGVu IHBlb3BsZS BwdXQgdGhl aXIgbW9uZX kgaW4gdGhl IGJhbmssIE NhbWRlbiBO YXRpb25hbC B1c2VzIHNv bWUgb2YgdG hhdCBtb25l eSB0byBsZW 5kIHRvIG90 aGVycyB3aG 8gbmVlZCBp dC4gV2hlbi BwZW9wbGUg cGF5IGJhY2 sgdGhlaXIg bG9hbnMsIH RoZXkgcGF5 IGV4dHJhIG 1vbmV5IGNh bGxlZCBpbn RlcmVzdCwg d2hpY2ggaX MgaG93IENh bWRlbiBOYX Rpb25hbCBl YXJucyBtb2 5leS4gVGhl eSBhbHNvIG 9mZmVyIHNl cnZpY2VzIG xpa2UgaGVs cGluZyBwZW 9wbGUgd2l0 aCBzYXZpbm cgb3IgaW52 ZXN0aW5nIG 1vbmV5LCBh bmQgdGhleS BjaGFyZ2Ug c29tZSBmZW VzIGZvciB0 aG9zZSBzZX J2aWNlcy48 YnI+VGhlIG NvbXBhbnkg aXMgc3VjY2 Vzc2Z1bCBi ZWNhdXNlIG l0IGhhcyBi ZWVuIGFyb3 VuZCBmb3Ig YSBsb25nIH RpbWUgYW5k IGhhcyBidW lsdCB0cnVz dCB3aXRoIG N1c3RvbWVy cy4gUGVvcG xlIGZlZWwg c2FmZSBrZW VwaW5nIHRo ZWlyIG1vbm V5IHRoZXJl IGJlY2F1c2 UgQ2FtZGVu IE5hdGlvbm FsIGhhcyBh IGdvb2Qgcm VwdXRhdGlv biBmb3IgYm VpbmcgcmVz cG9uc2libG UgYW5kIGhl bHBpbmcgcG VvcGxlIGFj aGlldmUgdG hlaXIgZmlu YW5jaWFsIG dvYWxzLiBU aGV5IGtlZX AgdXBkYXRp bmcgdGhlaX Igc2Vydmlj ZXMgYW5kIH VzaW5nIHRl Y2hub2xvZ3 kgdG8gbWFr ZSB0aGluZ3 MgZWFzaWVy IGZvciBjdX N0b21lcnMs IHdoaWNoIG hlbHBzIHRo ZW0gYXR0cm FjdCBtb3Jl IHBlb3BsZS B0byB1c2Ug dGhlaXIgYm Fuay48YnI+ SW4gdGhlIG Z1dHVyZSwg Q2FtZGVuIE 5hdGlvbmFs IHdpbGwgcH JvYmFibHkg Y29udGludW UgdG8gYmUg c3VjY2Vzc2 Z1bCBiZWNh dXNlIHRoZX kgYWRhcHQg dG8gY2hhbm dlcywgbGlr ZSBob3cgcG VvcGxlIHVz ZSB0aGVpci Btb25leSBv ciBuZXcgdG VjaG5vbG9n eS4gQXMgbG 9uZyBhcyB0 aGV5IGtlZX AgZG9pbmcg YSBnb29kIG pvYiBhbmQg dGFrZSBjYX JlIG9mIHRo ZWlyIGN1c3 RvbWVycywg dGhleSB3aW xsIGxpa2Vs eSBzdGF5IG Egc3Ryb25n IGFuZCBoZW xwZnVsIHBh cnQgb2YgdG hlIGNvbW11 bml0eSE8Yn I+

MS4gQSBsb2 5nIGhpc3Rv cnk6IENhbW RlbiBOYXRp b25hbCBCYW 5rIHdhcyBm b3VuZGVkIG luIDE4NzUs IG1ha2luZy BpdCBvbmUg b2YgdGhlIG 9sZGVzdCBi YW5rcyBpbi BNYWluZS4g VGhpcyBsb2 5nIGhpc3Rv cnkgaGFzIG VuYWJsZWQg dGhlIGJhbm sgdG8gYnVp bGQgc3Ryb2 5nIHJlbGF0 aW9uc2hpcH Mgd2l0aCBj dXN0b21lcn MgYW5kIGNv bW11bml0aW VzLjxicj4y LiBMb2NhbC Bmb2N1czog VGhlIGJhbm sncyBoZWFk cXVhcnRlcn MgYW5kIGJy YW5jaGVzIG FyZSBhbGwg bG9jYXRlZC BpbiBNYWlu ZSwgYWxsb3 dpbmcgdGhl bSB0byBoYX ZlIGEgZGVl cCB1bmRlcn N0YW5kaW5n IG9mIHRoZS Bsb2NhbCBt YXJrZXQgYW 5kIHByb3Zp ZGUgY3VzdG 9taXplZCBm aW5hbmNpYW wgc29sdXRp b25zIHRvIH RoZWlyIGN1 c3RvbWVycy 48YnI+My4g Q29tbWl0bW VudCB0byBj b21tdW5pdH k6IENhbWRl biBOYXRpb2 5hbCBoYXMg YSBzdHJvbm cgY29tbWl0 bWVudCB0by BnaXZpbmcg YmFjayB0by B0aGUgY29t bXVuaXRpZX MgaXQgc2Vy dmVzLiBUaG UgY29tcGFu eSBzdXBwb3 J0cyBhIHdp ZGUgcmFuZ2 Ugb2YgbG9j YWwgb3JnYW 5pemF0aW9u cyBhbmQgaW 5pdGlhdGl2 ZXMsIHN1Y2 ggYXMgZWR1 Y2F0aW9uLC BlY29ub21p YyBkZXZlbG 9wbWVudCwg YW5kIGNvbW 11bml0eSBy ZXZpdGFsaX phdGlvbiBw cm9qZWN0cy 48YnI+NC4g UGVyc29uYW xpemVkIGN1 c3RvbWVyIH NlcnZpY2U6 IENhbWRlbi BOYXRpb25h bCBwcmlkZX MgdGhlbXNl bHZlcyBvbi Bwcm92aWRp bmcgcGVyc2 9uYWxpemVk IGN1c3RvbW VyIHNlcnZp Y2UsIG1ha2 luZyBlYWNo IGN1c3RvbW VyIGZlZWwg dmFsdWVkIG FuZCB1bmRl cnN0b29kLi BUaGV5IG9m ZmVyIGEgdm FyaWV0eSBv ZiBwcm9kdW N0cyBhbmQg c2VydmljZX MgdGFpbG9y ZWQgdG8gZm l0IHRoZSBu ZWVkcyBvZi B0aGVpciBj dXN0b21lcn MuPGJyPjUu IFN0cm9uZy BmaW5hbmNp YWwgc3RhYm lsaXR5OiBD YW1kZW4gTm F0aW9uYWwg aGFzIGEgc2 9saWQgZmlu YW5jaWFsIH RyYWNrIHJl Y29yZCwgd2 l0aCBjb25z aXN0ZW50IH Byb2ZpdGFi aWxpdHkgYW 5kIGEgc3Ry b25nIGJhbG FuY2Ugc2hl ZXQuIFRoaX Mgc3RhYmls aXR5IGdpdm VzIGN1c3Rv bWVycyBwZW FjZSBvZiBt aW5kIGFuZC Bjb25maWRl bmNlIGluIH RoZSBjb21w YW55J3MgYW JpbGl0eSB0 byBwcm90ZW N0IHRoZWly IGFzc2V0cy 48YnI+Ni4g SW5ub3ZhdG l2ZSB0ZWNo bm9sb2d5Oi BEZXNwaXRl IGl0cyBsb2 5nIGhpc3Rv cnksIENhbW RlbiBOYXRp b25hbCBpcy Bjb21taXR0 ZWQgdG8gc3 RheWluZyBv biB0aGUgY3 V0dGluZyBl ZGdlIG9mIH RlY2hub2xv Z3kgYW5kIG 9mZmVycyBh IHJhbmdlIG 9mIGRpZ2l0 YWwgc2Vydm ljZXMgZm9y IGNvbnZlbm llbnQgYW5k IHNlY3VyZS BiYW5raW5n Ljxicj43Li BDb3Jwb3Jh dGUgc29jaW FsIHJlc3Bv bnNpYmlsaX R5OiBUaGUg Y29tcGFueS BpcyBjb21t aXR0ZWQgdG 8gb3BlcmF0 aW5nIGV0aG ljYWxseSBh bmQgc3VzdG FpbmFibHks IGFuZCBoYX MgaW1wbGVt ZW50ZWQgbn VtZXJvdXMg aW5pdGlhdG l2ZXMgdG8g cmVkdWNlIH RoZWlyIGVu dmlyb25tZW 50YWwgaW1w YWN0IGFuZC Bwcm9tb3Rl IGRpdmVyc2 l0eSBhbmQg aW5jbHVzaW 9uIHdpdGhp biB0aGUgY2 9tcGFueS48 YnI+OC4gSW 5kdXN0cnkg cmVjb2duaX Rpb246IENh bWRlbiBOYX Rpb25hbCBo YXMgcmVjZW l2ZWQgbnVt ZXJvdXMgYW Njb2xhZGVz IGFuZCBhd2 FyZHMgZm9y IHRoZWlyIG N1c3RvbWVy IHNlcnZpY2 UsIGNvbW11 bml0eSBpbn ZvbHZlbWVu dCwgYW5kIG ZpbmFuY2lh bCBwZXJmb3 JtYW5jZSwg aW5jbHVkaW 5nIGJlaW5n IG5hbWVkIG 9uZSBvZiB0 aGUgIkJlc3 QgQmFua3Mg dG8gV29yay BGb3IiIGJ5 IEFtZXJpY2 FuIEJhbmtl ciBNYWdhem luZS4=

VGhlIENhbW RlbiBOYXRp b25hbCBjb2 1wYW55J3Mg YnVzaW5lc3 MgbW9kZWwg aXMgY2VudG VyZWQgYXJv dW5kIHByb3 ZpZGluZyBm aW5hbmNpYW wgc2Vydmlj ZXMsIHN1Y2 ggYXMgYmFu a2luZywgbG VuZGluZywg d2VhbHRoIG 1hbmFnZW1l bnQsIGFuZC BpbnN1cmFu Y2UsIHRvIG luZGl2aWR1 YWxzLCBidX NpbmVzc2Vz LCBhbmQgY2 9tbXVuaXRp ZXMgaW4gTW FpbmUgYW5k IGJleW9uZC 4gVGhleSBh aW0gdG8gYn VpbGQgbG9u Zy10ZXJtIH JlbGF0aW9u c2hpcHMgd2 l0aCB0aGVp ciBjdXN0b2 1lcnMgYW5k IHByb3ZpZG UgcGVyc29u YWxpemVkIH NvbHV0aW9u cyB0byBtZW V0IHRoZWly IGZpbmFuY2 lhbCBuZWVk cy4gVGhlIG NvbXBhbnkg Zm9jdXNlcy BvbiBkZWxp dmVyaW5nIG V4Y2VsbGVu dCBjdXN0b2 1lciBzZXJ2 aWNlLCBzdG F5aW5nIGZp bmFuY2lhbG x5IHN0YWJs ZSwgYW5kIH N1cHBvcnRp bmcgdGhlIG NvbW11bml0 aWVzIHRoZX kgc2VydmUg dGhyb3VnaC B2YXJpb3Vz IGluaXRpYX RpdmVzIGFu ZCBwYXJ0bm Vyc2hpcHMu IENhbWRlbi BOYXRpb25h bCBhbHNvIG VtcGhhc2l6 ZXMgaW5ub3 ZhdGlvbiBh bmQgdGVjaG 5vbG9neSB0 byBjb250aW 51b3VzbHkg aW1wcm92ZS B0aGVpciBw cm9kdWN0cy BhbmQgc2Vy dmljZXMgYW 5kIGFkYXB0 IHRvIGNoYW 5naW5nIG1h cmtldCBjb2 5kaXRpb25z Lg==

AI can present both opportunities and threats to Camden National’s products, services, and competitive positioning.
Firstly, in terms of substitution, AI technologies can lead to the development of new financial products and services that might compete directly with Camden National. For instance, AI-driven robo-advisors could offer investment services at lower costs, siphoning off clients who prefer automated options for asset management and financial planning.
In terms of disintermediation, AI can facilitate peer-to-peer lending and blockchain technologies that allow consumers to transact without traditional financial intermediaries. This could threaten Camden National’s core banking services by enabling alternative solutions that bypass traditional banking processes, potentially diminishing the bank’s role in lending and transaction facilitation.
Regarding margin pressure, the implementation of AI in financial services often leads to increased efficiency and reduced operational costs. This shift could force Camden National to lower its service fees or interest rates to remain competitive. If competitors leverage AI to streamline their operations and offer better rates or services, Camden National may face pressure to adapt, potentially impacting profit margins.
While AI does pose these material threats, it can also serve as a catalyst for innovation within Camden National. By integrating AI into their offerings, the company has the opportunity to enhance customer experience, optimize operations, and stay competitive in an evolving marketplace. How Camden National navigates these challenges will ultimately determine the extent of AI’s impact on its business.

Camden National Company’s earnings, cash flow, and valuation are influenced by interest rates in several key ways:
1. Earnings Sensitivity: Camden National’s earnings are likely to be sensitive to interest rate changes due to its business model, which includes traditional banking services such as lending and deposit-taking. When interest rates rise, the bank can potentially earn more from loans and other interest-earning assets, which can improve net interest margins. Conversely, declining rates may compress margins, reducing overall earnings.
2. Cash Flow Sensitivity: The company’s cash flows from operations could also be affected by interest rate changes. Higher rates might lead to increased income from interest-sensitive products, contributing positively to operating cash flows. However, if rising rates lead to a slowdown in borrowing or increases in delinquencies, cash flows could be adversely affected. If interest rates decline, the lower cost of borrowing could stimulate loan demand, positively impacting cash flows.
3. Valuation Sensitivity: Valuation models for Camden National are often based on discounted cash flow, which means that interest rate changes can directly impact the discount rate used. If interest rates rise, the cost of capital increases, potentially leading to a lower present value of future cash flows and, consequently, a lower valuation. Conversely, falling interest rates can lead to higher valuations due to a reduction in the discount rate applied to future cash flows.
In summary, Camden National’s earnings, cash flows, and valuation exhibit sensitivity to changes in interest rates, with the extent of that sensitivity depending on the direction and magnitude of the rate changes and broader economic conditions.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgQ2 FtZGVuIE5h dGlvbmFsIE NvbXBhbnni gJlzIGVjb2 5vbWljcyBv dmVyIHRoZS BuZXh0IDPi gJM1IHllYX JzIGlzIGEg c2lnbmlmaW NhbnQgYW5k IHByb2xvbm dlZCBlY29u b21pYyBkb3 dudHVybiwg YWtpbiB0by BhIHNldmVy ZSByZWNlc3 Npb24gdHJp Z2dlcmVkIG J5IGZhY3Rv cnMgc3VjaC BhcyBhIGZp bmFuY2lhbC BjcmlzaXMs IGVzY2FsYX RpbmcgZ2Vv cG9saXRpY2 FsIHRlbnNp b25zLCBvci BhIHBhbmRl bWljIHJlc3 VyZ2VuY2Uu IFRoaXMgc2 NlbmFyaW8g bWF5IGxlYW QgdG8gd2lk ZXNwcmVhZC Bqb2IgbG9z c2VzLCByZW R1Y2VkIGNv bnN1bWVyIH NwZW5kaW5n LCBhbmQgaW 5jcmVhc2Vk IGxvYW4gZG VmYXVsdHMs IGFsbCBvZi B3aGljaCB3 b3VsZCBhZH ZlcnNlbHkg aW1wYWN0IE NhbWRlbiBO YXRpb25hbO KAmXMgb3Bl cmF0aW9ucy 48YnI+VW5k ZXIgdGhpcy BzY2VuYXJp bywgdGhlIG ZvbGxvd2lu ZyBlZmZlY3 RzIGNvdWxk IGJlIGFudG ljaXBhdGVk Ojxicj5NYX JnaW5zOiBU aGUgY29tcG FueeKAmXMg cHJvZml0IG 1hcmdpbnMg d291bGQgbG lrZWx5IGJl IHNxdWVlem VkIGR1ZSB0 byBpbmNyZW FzZWQgcHJv dmlzaW9uaW 5nIGZvciBs b2FuIGxvc3 NlcyBhcyBi b3Jyb3dlcn Mgc3RydWdn bGUgdG8gbW VldCB0aGVp ciBvYmxpZ2 F0aW9ucy4g V2l0aCBoaW doZXIgZGVm YXVsdCByYX RlcywgQ2Ft ZGVuIE5hdG lvbmFsIHdv dWxkIG5lZW QgdG8gc2V0 IGFzaWRlIG 1vcmUgY2Fw aXRhbCB0by Bjb3ZlciBw b3RlbnRpYW wgbG9zc2Vz LCBkaXJlY3 RseSBhZmZl Y3RpbmcgaX RzIHByb2Zp dGFiaWxpdH kuIEFkZGl0 aW9uYWxseS wgY29tcGV0 aXRpb24gZm 9yIGRlcG9z aXRzIG1pZ2 h0IGZvcmNl IHRoZSBjb2 1wYW55IHRv IG9mZmVyIG hpZ2hlciBp bnRlcmVzdC ByYXRlcywg ZnVydGhlci Bjb21wcmVz c2luZyBuZX QgaW50ZXJl c3QgbWFyZ2 lucy48YnI+ Q2FzaCBGbG 93OiBUaGUg b3ZlcmFsbC BjYXNoIGZs b3cgc2l0dW F0aW9uIHdv dWxkIGRldG VyaW9yYXRl IGFzIGNvbn N1bWVyIGFu ZCBidXNpbm VzcyBsb2Fu IGRlbWFuZC Bkcm9wcyBz aWduaWZpY2 FudGx5LiBF dmVuIHdpdG ggYSBzdHJv bmcgZGVwb3 NpdCBiYXNl LCByZWR1Y2 VkIGxlbmRp bmcgYWN0aX ZpdHkgY2Fu IHNldmVyZW x5IGxpbWl0 IHRoZSBnZW 5lcmF0aW9u IG9mIGludG VyZXN0IGlu Y29tZS4gTW 9yZW92ZXIs IGFueSBpbm NyZWFzZSBp biBub3Blcm Zvcm1pbmcg bG9hbnMgd2 91bGQgcmVx dWlyZSB0aG UgYmFuayB0 byBhbGxvY2 F0ZSBjYXNo IHJlc2Vydm VzIHRvd2Fy ZHMgcHJvdm lzaW9uaW5n LCBsaW1pdG luZyBhdmFp bGFibGUgY2 FzaCBmbG93 IGZvciBvdG hlciBvcGVy YXRpb25hbC BuZWVkcyBv ciBncm93dG ggaW5pdGlh dGl2ZXMuPG JyPkJhbGFu Y2UgU2hlZX Q6IFRoZSBj b21wYW554o CZcyBiYWxh bmNlIHNoZW V0IHdvdWxk IHJlZmxlY3 QgaW5jcmVh c2VkIHJpc2 ssIHByaW1h cmlseSBkdW UgdG8gYSBy aXNlIGluIG 5vcGVyZm9y bWluZyBhc3 NldHMgYW5k IGltcGFpcm VkIGxvYW5z LiBUaGlzIG NvdWxkIGxl YWQgdG8gYS B3ZWFrZW5l ZCBjYXBpdG FsIHBvc2l0 aW9uIGFzIH Jlc2VydmVz IGZvciBiYW QgZGVidHMg dGFrZSBhIH N1YnN0YW50 aWFsIGhpdC 4gRnVydGhl cm1vcmUsIG lmIHRoZSBj b21wYW55IH dlcmUgdG8g ZXhwZXJpZW 5jZSBhIGRl Y2xpbmUgaW 4gYXNzZXQg dmFsdWVzLC BpdCBtaWdo dCBmYWNlIG hpZ2hlciBs ZXZlcmFnZS BsZXZlbHMs IHdpdGggdG hlIHJpc2st d2VpZ2h0ZW QgYXNzZXRz IGluY3JlYX NpbmcgcmVs YXRpdmUgdG 8gZXF1aXR5 LiBUaGlzIG NvdWxkIHRy aWdnZXIgcm VndWxhdG9y eSBzY3J1dG lueSByZWdh cmRpbmcgY2 FwaXRhbCBh ZGVxdWFjeS wgcG90ZW50 aWFsbHkgaW 1wYWN0aW5n IHRoZSBhYm lsaXR5IHRv IHBheSBkaX ZpZGVuZHMg b3IgaW52ZX N0IGluIGdy b3d0aC48Yn I+VGhlIGNv bWJpbmF0aW 9uIG9mIHRo ZXNlIGVmZm VjdHPigJRz cXVlZXplZC BtYXJnaW5z LCBjb25zdH JhaW5lZCBj YXNoIGZsb3 dzLCBhbmQg YSBkYW1hZ2 VkIGJhbGFu Y2Ugc2hlZX TigJR3b3Vs ZCBjcmVhdG UgYSBjaGFs bGVuZ2luZy BlbnZpcm9u bWVudCBmb3 IgQ2FtZGVu IE5hdGlvbm FsLCBtYWtp bmcgcmVjb3 ZlcnkgZGlm ZmljdWx0IG FuZCBwb3Rl bnRpYWxseS ByZXN1bHRp bmcgaW4gbG FzdGluZyBk YW1hZ2UgdG 8gaXRzIGVj b25vbWljIH ZpYWJpbGl0 eS48YnI+

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvMl dUSHZzUHEw U3E0aDRFRD FPY0Mud2Vi cCIgYWx0PS JDYW1kZW4g TmF0aW9uYW wiIHRpdGxl PSJDYW1kZW 4gTmF0aW9u YWwiICBjbG Fzcz0iaW1n LWZsdWlkIi BoZWlnaHQ9 NTAgd2lkdG g9NTAgbG9h ZGluZz0nbG F6eScgc3R5 bGU9J2Jvcm Rlci1yYWRp dXM6IDZweD snPgoKICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdm bGV4OiAxOy B0ZXh0LWFs aWduOiBjZW 50ZXI7IG1h cmdpbi1sZW Z0OiA1cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPHAg c3R5bGU9J2 ZvbnQtc2l6 ZTogMjZweD sgY29sb3I6 ICMzMzM7IG 1hcmdpbi1i b3R0b206ID E1cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIPCf k4ggV2FudC B0byByZWFk IG1vcmUgYW JvdXQgQ2Ft ZGVuIE5hdG lvbmFsPwog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L3A+Cgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdpbmRleC 5waHA/cGFn ZT1zaWdudX AnIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJhY2tncm 91bmQtY29s b3I6ICMwMD dCRkY7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBjb2xv cjogI2ZmZj sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH BhZGRpbmc6 IDEwcHggMj BweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJvcmRl ci1yYWRpdX M6IDVweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGZvbn Qtd2VpZ2h0 OiBib2xkOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgbW FyZ2luLXJp Z2h0OiAxMH B4OwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdHJhbnNp dGlvbjogYm Fja2dyb3Vu ZC1jb2xvci AwLjNzIGVh c2U7JwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgb25tb3 VzZW92ZXI9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA1NmIzIi cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG 9ubW91c2Vv dXQ9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA3Qk ZGIic+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIGZvci BmcmVlCiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xzcGFuIHN0 eWxlPSdtYX JnaW46IDAg OHB4OyBjb2 xvcjogIzU1 NTsnPm9yPC 9zcGFuPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naW5kZX gucGhwP3Bh Z2U9bG9naW 4nIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGNvbG9yOi AjMDA3QkZG OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dGV4dC1kZW NvcmF0aW9u OiB1bmRlcm xpbmU7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBmb250 LXdlaWdodD ogNTAwOyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBs b2cgaW4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgoKCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdtYXJn aW4tdG9wOi AxNXB4OyBm b250LXNpem U6IDEzcHg7 IGZvbnQtd2 VpZ2h0OiBi b2xkOyBjb2 xvcjogI2Qz MmYyZjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg4p yN77iPIFNp Z24gdXAgdG 8gZ2V0IDxp PiJUaGUgQ2 hlY2tsaXN0 IFZhbHVlIE ludmVzdG9y IOKAlCBBIF NtYXJ0ZXIg V2F5IHRvIF BpY2sgU3Rv Y2tzIjwvaT 4gZm9yIGZy ZWUKICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9w PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPCEt LQogICAgIC AgICAgICAg ICAgICAgIC AgICA8ZGl2 IHN0eWxlPS dtYXJnaW4t dG9wOiAxMn B4OyBmb250 LXNpemU6ID EzcHg7IGNv bG9yOiAjND Q0Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIG5vdy BhbmQgZ2V0 IG91ciBmcm VlIGVCb29r IAogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PGI+VGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrczwvYj 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIC0tPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8IS0tCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J21h cmdpbi10b3 A6IDE2cHg7 IGZvbnQtc2 l6ZTogMTRw eDsgY29sb3 I6ICM0NDQ7 IGZvbnQtZm FtaWx5OiAt YXBwbGUtc3 lzdGVtLCBC bGlua01hY1 N5c3RlbUZv bnQsIFNlZ2 9lIFVJLCBS b2JvdG8sIE hlbHZldGlj YSBOZXVlLC BzYW5zLXNl cmlmOyBsaW 5lLWhlaWdo dDogMS42Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BIYXZlIHlv dSBoZWFyZC BhYm91dCBv dXIgc2hvcn QgPHN0cm9u ZyBzdHlsZT 0nZm9udC13 ZWlnaHQ6ID YwMDsnPkRh aWx5IFZpZG VvIE5ld3Ns ZXR0ZXI8L3 N0cm9uZz4/ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dodHRwczov L3d3dy5pbn NpZ2h0ZnVs dmFsdWUuY2 9tL25ld3Ns ZXR0ZXIucG hwJyB0YXJn ZXQ9J19ibG Fuaycgc3R5 bGU9J2NvbG 9yOiAjMDA3 QkZGOyB0ZX h0LWRlY29y YXRpb246IG 5vbmU7IGZv bnQtd2VpZ2 h0OiA1MDA7 IG1hcmdpbi 1sZWZ0OiA2 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BGaW5kIG91 dCBtb3JlCi AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 E+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgICAg ICAgICAtLT 4KICAgICAg ICAgICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg CiAgICAgIC AgCiAgICAg ICAgPHNwYW 4gY2xhc3M9 J2JsdXJyZW QtdGV4dCc+ CiAgICAgIC AgICAgIE1T NGdRMkZ0Wk cgVnVJRTVo ZEdsdiBibU ZzSUVOdmNu IEJ2Y21GMG FXOXUgSUds eklHRWdZbS BGdWF5Qm9i MnhrIGFXNW 5JR052Ylgg QmhibmtnWW 1GeiBaV1Fn YVc0Z1EyIE Z0WkdWdUxD Qk4gWVdsdV pTd2dWVyA1 cGRHVmtJRk 4wIFlYUmxj eTQ4WW4gSS tNaTRnVkdo bCBJR052Yl hCaGJuIGtn ZDJGeklHWn YgZFc1a1pX UWdhVyA0Z0 1UZzNOU0Iz IGFYUm9JSF JvWlMgQmxj M1JoWW14cC BjMmh0Wlc1 MElHIDltSU VOaGJXUmwg YmlCT1lYUn BiMiA1aGJD QkNZVzVyIE xqeGljajR6 TGkgQlBjbW xuYVc1aCBi R3g1SUd0dW IzIGR1SUdG eklIUm8gWl NCRFlXMWta VyA0Z1FtRn VheUFtIElG UnlkWE4wSU UgTnZiWEJo Ym5rcyBJR2 wwSUdOb1lX IDVuWldRZ2 FYUnogSUc1 aGJXVWdkRy A4Z1EyRnRa R1Z1IElFNW hkR2x2Ym0g RnNJRUpoYm 1zZyBhVzRn TVRreU1TID Q4WW5JK05D NGcgUTJGdF pHVnVJRSA1 aGRHbHZibU ZzIElFTnZj bkJ2Y20gRj BhVzl1SUdK bCBZMkZ0Wl NCaElIIEIx WW14cFkyeD UgSUhSeVlX UmxaQyBCam IyMXdZVzU1 IElHbHVJRE U1T0QgWWdZ VzVrSUdsei BJR3hwYzNS bFpDIEJ2Ym lCMGFHVWcg VGtGVFJFRl JJSCBOMGIy TnJJR1Y0IF kyaGhibWRs SUggVnVaR1 Z5SUhSbyBa U0IwYVdOcl pYIElnYzNs dFltOXMgSU VOQlF5NDhZ biBJK05TNG dWR2hsIElH TnZiWEJoYm 4ga2dhR0Z6 SUdWNCBjR0 Z1WkdWa0lI IFJvY205MV oyZ2cgWVNC amIyMWlhVy A1aGRHbHZi aUJ2IFppQn ZjbWRoYm0g bGpJR2R5Yj NkMCBhQ0Jo Ym1RZ1lXIE 54ZFdsemFY UnAgYjI1ek xpQkJjeSBC dlppQXlNRE l4IExDQnBk Q0JvWVggTW diM1psY2lB MiBNQ0JpY2 1GdVkyIGhs Y3lCaGJtUW cgT0RVZ1FW Uk5jeSBCcG JpQk5ZV2x1 IFpTd2djMl Z5ZG0gbHVa eUJ0YjNKbC BJSFJvWVc0 Z01UIEF3TE RBd01DQmog ZFhOMGIyMW xjbiBNdVBH SnlQall1IE lFbHVJR0Zr WkcgbDBhVz l1SUhSdiBJ SFJ5WVdScG RHIGx2Ym1G c0lHSmggYm 10cGJtY2dj MiBWeWRtbG paWE1zIElF TmhiV1JsYm kgQk9ZWFJw YjI1aCBiQ0 JEYjNKd2Iz IEpoZEdsdm JpQmggYkhO dklHOW1abS BWeWN5QnBi blpsIGMzUn RaVzUwSUcg MWhibUZuWl cxbCBiblFz SUhSeWRYIE 4wSUdGdVpD QmwgYzNSaG RHVWdjMiBW eWRtbGpaWE 1zIElHRnVa Q0J0WlggSm phR0Z1ZENC eiBaWEoyYV dObGN5IDQ4 WW5JK055NG cgVkdobElH TnZiWCBCaG Jua2dhR0Z6 IElHTnZibk 5wYzMgUmxi blJzZVNCaS BaV1Z1SUhK bFkyIDluYm 1sNlpXUWcg Wm05eUlHbD BjeSBCbWFX NWhibU5wIF lXd2djR1Z5 Wm0gOXliV0 Z1WTJVcyBJ R04xYzNSdm JXIFZ5SUhO bGNuWnAgWT JVc0lHRnVa QyBCamIyMX RkVzVwIGRI a2dhVzUyYj IgeDJaVzFs Ym5RdSBJRW wwSUdoaGN5 IEJpWldWdU lHNWggYldW a0lHOXVaUy BCdlppQjBh R1VnIFFtVn pkQ0JDWVcg NXJjeUIwYn lCWCBiM0py SUVadmNpIE JpZVNCQmJX VnkgYVdOaG JpQkNZVyA1 clpYSWdiV0 ZuIFlYcHBi bVVnWm0gOX lJREV3SUdO diBibk5sWT NWMGFYIFps SUhsbFlYSn ogTGp4aWNq NDRMaSBCSm JpQXlNREl3 IExDQkRZVz FrWlcgNGdU bUYwYVc5dS BZV3dnUTI5 eWNHIDl5WV hScGIyNGcg ZDJGeklHNW hiVyBWa0lI Um9aU0IwIG FHbHlaQ0Jp WlggTjBMWE JsY21adiBj bTFwYm1jZ1 ltIEZ1YXlC cGJpQjAgYU dVZ1ZXNXBk RyBWa0lGTj BZWFJsIGN5 QmllU0JUSm wgQWdSMnh2 WW1GcyBJRT FoY210bGRD IEJKYm5SbG JHeHAgWjJW dVkyVXVQRy BKeVBqa3VJ RlJvIFpTQm piMjF3WVcg NTVJR2hoY3 lCaCBJSE4w Y205dVp5IE JqYjIxdGFY UnQgWlc1ME lIUnZJSCBO MWMzUmhhVz VoIFltbHNh WFI1SUcgRn VaQ0JvWVhN ZyBZbVZsYm lCeVpXIE52 WjI1cGVtVm sgSUdadmNp QnBkSCBNZ1 pXWm1iM0ow IGN5QnBiaU JsYm4gWnBj bTl1YldWdS BkR0ZzSUhO MFpYIGRoY2 1SemFHbHcg SUdGdVpDQn laWCBOd2Iy NXphV0pzIF pTQmlkWE5w Ym0gVnpjeU J3Y21GaiBk R2xqWlhNdV BHIEp5UGpF d0xpQkQgWV cxa1pXNGdU bSBGMGFXOX VZV3dnIFEy OXljRzl5WV ggUnBiMjRn YVhNZyBZU0 J0WVdwdmNp IEJ6ZFhCd2 IzSjAgWlhJ Z2IyWWdiRy A5allXd2dZ Mjl0IGJYVn VhWFJwWlgg TWdZVzVrSU c5eSBaMkZ1 YVhwaGRHIG x2Ym5NZ2FX NGcgVFdGcG JtVXNJSCBC eWIzWnBaR2 x1IFp5Qmti MjVoZEcgbH Zibk1zSUhO dyBiMjV6Yj NKemFHIGx3 Y3l3Z1lXNW sgSUhadmJI VnVkRyBWbG NpQnZjSEJ2 IGNuUjFibW wwYVcgVnpJ SFJ2SUdobC BiSEFnYVcx d2NtIDkyWl NCMGFHVWcg ZDJWc2JDMW laVyBsdVp5 QnZaaUJwIG RITWdibVZw WjIgaGliM0 p6TGc9PQog ICAgICAgID wvc3Bhbj4K ICAgICAgIC AKICAgICAg ICA=