Renasant Corporation (NYSE:RNST) Q2 2025 Earnings Call July 23, 2025 10:00 AM ET Company Participants David L. Meredith - Executive Vice President James C. Mabry - Executive VP & CFO Kelly W. Hutcheson - Executive VP & Chief Accounting Officer Kevin D. Chapman - President, CEO & Director Conference Call Participants Catherine Fitzhugh Summerson Mealor - Keefe, Bruyette, & Woods, Inc., Research Division David Jason Bishop - Hovde Group, LLC, Research Division Matthew Covington Olney - Stephens Inc., Research ...

Renasant (RNST) Q2 2025 Earnings Call July 23, 2025 10:00 AM ET Company ParticipantsKelly Hutcheson - Executive VP & Chief Accounting OfficerKevin Chapman - President, CEO & DirectorJames Mabry - Executive VP & CFOMichael Rose - Managing DirectorMatt Olney - Managing DirectorCatherine Mealor - Managing DirectorDavid Meredith - Senior EVP & Chief Credit OfficerDavid Bishop - Director - ResearchConference Call ParticipantsStephen Scouten - MD & Senior Research AnalystOperatorGood morning, and welcome to the R ...

Financial Data and Key Metrics Changes - Reported earnings were $1,000,000 or $0.01 per diluted share, while adjusted earnings were approximately $66,000,000 or $0.69 per diluted share [5] - Loans increased by $312,000,000 or 7% from the previous quarter, and deposits rose by $361,000,000 or 7% [6] - Core net interest margin expanded from 3.42% to 3.58%, while reported margin increased from 3.45% to 3.85% for the quarter [6] Business Line Data and Key Metrics Changes - Adjusted pre-provision net revenue was $103,000,000, with net interest income growth driven by improved net interest margin and balance sheet growth [11] - Non-interest income was $48,300,000, reflecting a linked quarter increase of $11,900,000, largely driven by the mortgage division [11] - Non-interest expense for the quarter was $183,200,000, with merger and conversion expenses of $20,500,000 included [11] Market Data and Key Metrics Changes - The fair value of assets acquired in the merger totaled $7,900,000,000, including total loans of $5,200,000,000 [9] - The fair value of liabilities assumed was $6,900,000,000, including total deposits of $6,400,000,000 [9] - All regulatory capital ratios remained above required minimums, indicating a well-capitalized status [9] Company Strategy and Development Direction - The company is focused on successfully integrating teams from both merged entities and meeting customer needs [4] - Management expressed confidence in achieving modeled synergies by year-end and emphasized the importance of cultural integration [12] - The company aims for mid-single-digit loan and deposit growth, with a strong pipeline and opportunities in key markets [25] Management's Comments on Operating Environment and Future Outlook - Management noted that the merger has created a strong foundation for future growth, with expectations for modest expansion in core margin [17] - The company is on track to achieve its long-term strategic goals regarding profitability metrics such as ROA and efficiency ratio [39] - Management remains cautious about potential economic impacts but is optimistic about the integration and growth opportunities [26] Other Important Information - The company recorded a credit loss provision on loans of $14,700,000, with net charge-offs primarily from two credits [10] - The adjusted efficiency ratio improved by about seven percentage points, reflecting better revenue and cost containment [12] - Management indicated that additional conversion-related expenses are expected in the third quarter [12] Q&A Session Summary Question: Can you walk through the margin and expectations for core margin moving forward? - Management expects modest expansion in core margin, with a spot margin in June at 3.60% [18][20] Question: What are the expectations for core expense levels in the next few quarters? - Management indicated that efficiencies from the merger will start to show in Q3, with a goal for a clean income statement by Q1 next year [35][36] Question: What is the outlook for loan growth and pipeline? - Management reported a strong pipeline and guided for mid-single-digit loan and deposit growth, with efforts to capture market share [25][26] Question: Can you provide color on elevated charge-offs and future expectations? - Management clarified that recent charge-offs were not systemic and expected future charge-offs to revert to historical averages of around 10 basis points [50][51] Question: What are the thoughts on potential buybacks and capital allocation? - Management stated that capital is primarily for organic growth, with buybacks considered but not prioritized at this time [52][54] Question: When might the company consider whole bank M&A opportunities? - Management indicated that it is too early to plan for M&A, focusing instead on the successful integration of the current merger [60][62]

Financial Performance - Net income was $1 million with diluted EPS of $001, impacted by merger expenses of $205 million and Day 1 acquisition provision for credit losses of $666 million; adjusted diluted EPS was $069[11] - Net interest margin was 385%, up 40 basis points linked quarter; adjusted net interest margin was 358%, up 16 basis points linked quarter[11] - The company generated net organic loan growth of $3116 million for the quarter, or 69% annualized, and net organic deposit growth of $3613 million, or 68% annualized[11] Balance Sheet - Assets reached $266 billion[6] - Loans totaled $186 billion[6] - Deposits amounted to $216 billion[6] - Equity stood at $38 billion[6] Capital and Liquidity - The company has a $100 million stock repurchase program, with no buyback activity in the second quarter of 2025[30] - Available liquidity sources totaled $136 billion, while uninsured and uncollateralized deposits were $63 billion[64] Asset Quality - The ratio of allowance for credit losses on loans to total loans increased 1 basis point to 157%[11] - Nonperforming loans to total loans held constant at 076%[11] Merger and Acquisition - On April 1, 2025, the company completed its merger with The First Bancshares, Inc, which had $79 billion in assets, $52 billion in loans, and $64 billion in deposits[11] - The company acquired $15 billion in securities from The First and sold $6865 million of The First securities and reinvested at higher rates[71] Noninterest Income and Expense - Noninterest income increased $119 million linked quarter, primarily due to the merger with The First and a gain on sale of MSRs of $15 million[57] - Noninterest expense increased $693 million linked quarter, primarily related to the merger with The First; merger and conversion expenses increased $197 million linked quarter[61]

Renasant (RNST) came out with quarterly earnings of $0.69 per share, missing the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.76%. A quarter ago, it was expected that this holding company for Renasant Bank would post earnings of $0.6 per share when it actually produced earnings of $0.66, delivering a surprise of +10%.Over the last four quarte ...

Contacts: For Media: For Financials: John S. Oxford James C. Mabry IV Chief Marketing Officer Chief Financial Officer (662) 680-1219 (662) 680-1281 Senior Vice President Executive Vice President RENASANT CORPORATION ANNOUNCES EARNINGS FOR THE SECOND QUARTER OF 2025 TUPELO, MISSISSIPPI (July 22, 2025) - Renasant Corporation (NYSE: RNST) (the "Company") today announced earnings results for the second quarter of 2025. | (Dollars in thousands, except earnings per share) | | Three Months Ended | | Six Months End ...

TUPELO, Miss., July 22, 2025 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the second quarter of 2025. (Dollars in thousands, except earnings per share)Three Months Ended Six Months Ended Jun 30,2025Mar 31,2025Jun 30,2024 Jun 30,2025Jun 30,2024Net income and earnings per share:      Net income$1,018 $41,518 $38,846 $42,536 $78,255Merger and conversion related expenses (net of tax) (15,935) (593) —  (16,527) —Day 1 acquisition provision (net of tax ...

Core Points - Renasant Corporation will announce its 2025 second quarter results on July 22, 2025, after the NYSE closes [1] - A quarterly webcast and conference call with analysts is scheduled for July 23, 2025, at 10:00 AM Eastern Time [1] - The webcast will be accessible through Renasant's investor relations website and via telephone for participants [2] Company Overview - Renasant Corporation is the parent company of Renasant Bank, which has been in operation for 121 years [4] - The company has approximately $26.0 billion in assets and operates over 280 banking, lending, mortgage, and wealth management offices in the Southeast, along with nationwide factoring and asset-based lending services [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________ FORM 10-Q ________________________________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2025 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: ...

Chapman Becomes Chief Executive Officer of Renasant Renasant CEO Kevin Chapman TUPELO, Miss., May 01, 2025 (GLOBE NEWSWIRE) -- Today, Renasant Corporation (the “Company”) announced that Kevin D. Chapman has officially assumed the role of Chief Executive Officer and President of both the Company and Renasant Bank (the “Bank”). C. Mitchell Waycaster, immediate past Renasant CEO, will continue as Executive Vice Chairman for both the Company and the Bank. As Executive Vice Chairman, Waycaster will continue ...