As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the regional banks industry, including Camden National Corporation (NASDAQ: CAC) and its peers.

Regional banks, financial institutions operating within specific geographic areas, serve as intermediaries between local depositors and borrowers. They benefit from rising interest rates that improve net interest margins (the difference between loan yields and deposit costs), digital transformation reducing operational expenses, and local economic growth driving loan demand. However, these banks face headwinds from fintech competition, deposit outflows to higher-yielding alternatives, credit deterioration (increasing loan defaults) during economic slowdowns, and regulatory compliance costs. Recent concerns about regional bank stability following high-profile failures and significant commercial real estate exposure present additional challenges.

The 87 regional banks stocks we track reported a slower Q3. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady as they are up 3.5% on average since the latest earnings results.

Camden National Corporation (NASDAQ: CAC)

Rooted in Maine's coastal communities since 1875, Camden National (NASDAQ: CAC) is a regional bank holding company that provides banking, wealth management, and financial services to consumers and businesses throughout Maine and New Hampshire.

Camden National Corporation reported revenues of $68.91 million, up 4.8% year on year. This print exceeded analysts’ expectations by 1.4%. Despite the top-line beat, it was still a mixed quarter for the company with a decent beat of analysts’ net interest income estimates but a miss of analysts’ tangible book value per share estimates.

"Our third-quarter results demonstrate continued momentum across the franchise, with year-over-year earnings growth, meaningful deposit growth, and strong credit performance," said Simon Griffiths, President and Chief Executive Officer of Camden National Corporation. "Strong deposit growth and continued customer acquisition improved our funding mix, reduced reliance on higher-cost borrowings, and expanded net interest margin by 15 basis points from the second quarter to 3.41%. At the same time, we maintained disciplined expense management while investing in our lending teams and future growth. With record earnings through the first nine months of the year and a stronger balance sheet, we are confident that we are well positioned to deliver sustained earnings growth and long-term shareholder value."

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $58.95.

Read our full report on Camden National Corporation here, it’s free.

Best Q3: Merchants Bancorp (NASDAQ: MBIN)

With a strategic focus on low-risk, government-backed lending programs, Merchants Bancorp (NASDAQCM:MBIN) is an Indiana-based bank holding company specializing in multi-family mortgage banking, mortgage warehousing, and traditional banking services.

Merchants Bancorp reported revenues of $224.9 million, up 31.5% year on year, outperforming analysts’ expectations by 22.3%. The business had a very strong quarter with a beat of analysts’ EPS estimates and a narrow beat of analysts’ tangible book value per share estimates.

Merchants Bancorp scored the biggest analyst estimate beat among its peers. The market seems happy with the results as the stock is up 7.2% since reporting. It currently trades at $52.68.

Is now the time to buy Merchants Bancorp? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: National Bank Holdings (NYSE: NBHC)

Operating under familiar local brands like Community Banks of Colorado, Bank Midwest, and Bank of Jackson Hole, National Bank Holdings (NYSE: NBHC) operates regional banks across Colorado, Kansas, Missouri, Wyoming, Texas, and other western states, offering commercial, business, and consumer banking services.

National Bank Holdings reported revenues of $128.5 million, up 21.8% year on year, falling short of analysts’ expectations by 2.1%. It was a disappointing quarter as it posted a significant miss of analysts’ net interest income estimates and a significant miss of analysts’ EPS estimates.

As expected, the stock is down 2.4% since the results and currently trades at $38.06.

Read our full analysis of National Bank Holdings’s results here.

1st Source (NASDAQ: SRCE)

Tracing its roots back to 1863 during the Civil War era, 1st Source Corporation (NASDAQ: SRCE) is a regional bank holding company that provides commercial, consumer, specialty finance, and wealth management services across Indiana, Michigan, and Florida.

1st Source reported revenues of $122.7 million, up 8.9% year on year. This result beat analysts’ expectations by 3.9%. Overall, it was a strong quarter as it also logged a beat of analysts’ EPS estimates and a narrow beat of analysts’ net interest income estimates.

The stock is up 2.6% since reporting and currently trades at $89.43.

Read our full, actionable report on 1st Source here, it’s free.

First Financial Bankshares (NASDAQ: FFIN)

With roots dating back to 1890 and a network spanning over 70 locations across the Lone Star State, First Financial Bankshares (NASDAQ: FFIN) is a Texas-focused regional bank providing commercial banking, trust services, and wealth management across numerous communities throughout the state.

First Financial Bankshares reported revenues of $177.8 million, up 8% year on year. This number missed analysts’ expectations by 0.8%. Overall, it was a softer quarter as it also produced a significant miss of analysts’ tangible book value per share estimates and a significant miss of analysts’ net interest income estimates.

The stock is flat since reporting and currently trades at $31.45.

Read our full, actionable report on First Financial Bankshares here, it’s free.

Market update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.