SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): December 4, 2002


                           CAMDEN NATIONAL CORPORATION
               (Exact name of Registrant as specified in charter)


                                      MAINE
                 (State or other jurisdiction of incorporation)



                01-28190                             01-0413282
         (Commission file number)          (IRS employer identification no.)


                       Two Elm Street, Camden, Maine 04843
               (Address of principal executive offices) (Zip Code)


                                 (207) 236-8821
              (Registrant's telephone number, including area code)




Item 5 - Other Events and Regulation FD Disclosure

Camden National Corporation (the "Company") completed a financial transaction
with NOVA Information Systems ("NOVA"), a subsidiary of U.S. Bank, for the sale
of the merchant credit card processing business of its subsidiary banks, Camden
National Bank and UnitedKingfield Bank. In connection with the transaction, NOVA
will pay $1.25 million, which will result in a one-time after tax gain to the
Company, in the fourth quarter, of approximately $754.0 thousand, which includes
transaction and other expenses of approximately $90.0 thousand, or an increase
in earnings of approximately $0.09 per share. As part of the transaction, the
Company and its subsidiaries entered into a joint marketing and alliance
agreement with NOVA, whereby it will cooperate with NOVA in providing credit
card services to customers and marketing to prospective merchants in return for
specified royalty payments. During the seven-year term of this agreement, and
any renewal or extension thereof, the Company will not compete with NOVA for
merchant credit card processing business.

Item 7 - Financial Statements, Pro Forma Financial Information and Exhibits

(a) Merchant Asset Purchase Agreement between the Company and NOVA is included
    as Exhibit 99.1 hereto.


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Company has duly caused this report to be filed on its behalf by
the undersigned thereunto duly authorized.


             CAMDEN NATIONAL CORPORATION



       By:   /s/ Gregory A. Dufour                      Date: December 4, 2002
             ----------------------------------
             Gregory A. Dufour
             Senior Vice President - Finance
             and Principal Financial Officer



                                 EXHIBIT INDEX


Exhibit No.                                 Description
-----------                                 -----------

99.1                           Merchant Asset Purchase Agreement