PART I: Financial Information [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Renasant Corporation's unaudited consolidated financial statements for Q1 2025, including balance sheets, income, comprehensive income, equity changes, cash flows, and detailed notes [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$18.27 billion** by March 31, 2025, driven by growth in net loans, deposits, and shareholders' equity Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | $18,271,381 | $18,034,868 | | Loans, net | $12,851,662 | $12,683,264 | | Total Deposits | $14,772,095 | $14,572,612 | | Total Liabilities | $15,544,276 | $15,356,550 | | Total Shareholders' Equity | $2,727,105 | $2,678,318 | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q1 2025 increased to **$41.5 million** from **$39.4 million** in Q1 2024, driven by higher net interest income, despite a lower diluted EPS of **$0.65** Q1 2025 vs. Q1 2024 Income Statement (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Interest Income | $134,197 | $123,290 | | Provision for Credit Losses | $4,750 | $2,438 | | Total Noninterest Income | $36,468 | $41,381 | | Total Noninterest Expense | $113,949 | $112,912 | | Net Income | $41,518 | $39,409 | | Diluted EPS | $0.65 | $0.70 | [Consolidated Statements of Comprehensive Income](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income significantly increased to **$62.5 million** in Q1 2025, primarily due to a positive swing in other comprehensive income from unrealized gains on securities Q1 2025 vs. Q1 2024 Comprehensive Income (in thousands) | Component | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Income | $41,518 | $39,409 | | Other Comprehensive Income (Loss) | $20,987 | $(2,687) | | **Comprehensive Income** | **$62,505** | **$36,722** | [Consolidated Statements of Changes in Shareholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Shareholders' equity increased to **$2.73 billion** by March 31, 2025, driven by net income and other comprehensive income, partially offset by cash dividends - Total shareholders' equity grew by approximately **$48.8 million** during Q1 2025[17](index=17&type=chunk) Key Changes in Shareholders' Equity Q1 2025 (in thousands) | Description | Amount | | :--- | :--- | | Balance at January 1, 2025 | $2,678,318 | | Net Income | $41,518 | | Other Comprehensive Income | $20,987 | | Cash Dividends ($0.22 per share) | $(14,270) | | **Balance at March 31, 2025** | **$2,727,105** | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities was **$106.2 million** in Q1 2025, while investing activities used **$292.1 million**, and financing activities provided **$185.2 million**, resulting in a slight net decrease in cash Q1 2025 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $106,152 | $65,057 | | Net Cash (Used in) from Investing Activities | $(292,055) | $29,968 | | Net Cash from (Used in) Financing Activities | $185,210 | $(51,976) | | **Net (Decrease) Increase in Cash** | **$(693)** | **$43,049** | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies and financial data, covering securities, loans, credit quality, derivatives, fair value, regulatory capital, segment reporting, and the subsequent merger with The First Bancshares, Inc - On July 1, 2024, the Bank sold substantially all of the assets of Renasant Insurance, Inc[22](index=22&type=chunk) - On April 1, 2025, the Company completed its merger with The First Bancshares, Inc. This subsequent event will be accounted for as a business combination, with further details on purchase accounting to be disclosed in future filings[155](index=155&type=chunk)[156](index=156&type=chunk) Capital Ratios as of March 31, 2025 | Ratio | Renasant Corporation | Renasant Bank | | :--- | :--- | :--- | | Common Equity Tier 1 | 12.59% | 12.71% | | Tier 1 Capital | 13.35% | 12.71% | | Total Capital | 16.89% | 13.96% | | Tier 1 Leverage | 11.39% | 10.85% | [Item 2. MD&A of Financial Condition and Results of Operations](index=45&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 financial condition and results, covering the merger, balance sheet changes, income/expense analysis, and credit, interest rate, and liquidity risk management, highlighting asset growth and strong capital [Financial Condition](index=46&type=section&id=Financial%20Condition) Total assets grew to **$18.27 billion** by March 31, 2025, driven by increases in total loans to **$13.06 billion** and deposits to **$14.77 billion**, with noninterest-bearing deposits at **23.97%** - Total assets increased to **$18.27 billion** at March 31, 2025, from **$18.03 billion** at year-end 2024[164](index=164&type=chunk) - Total loans grew to **$13.06 billion**, with non-owner occupied commercial mortgage loans being the largest concentration at **32.65%** of the portfolio[170](index=170&type=chunk)[171](index=171&type=chunk) - Total deposits increased to **$14.77 billion**, with noninterest-bearing deposits at **$3.54 billion**, or **23.97%** of total deposits[174](index=174&type=chunk)[175](index=175&type=chunk) [Results of Operations](index=49&type=section&id=Results%20of%20Operations) Net income for Q1 2025 was **$41.5 million**, driven by a **$10.9 million** rise in net interest income to **$134.2 million**, despite decreased noninterest income and slightly increased noninterest expense, improving the efficiency ratio to **65.53%** Q1 2025 vs Q1 2024 Key Metrics | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Income | $41,518 thousand | $39,409 thousand | | Diluted EPS | $0.65 | $0.70 | | Net Interest Income | $134,197 thousand | $123,290 thousand | | Net Interest Margin (tax-equiv.) | 3.45% | 3.30% | | Noninterest Income | $36,468 thousand | $41,381 thousand | | Noninterest Expense | $113,949 thousand | $112,912 thousand | | Efficiency Ratio | 65.53% | 67.52% | - The decrease in noninterest income was primarily due to the sale of the insurance agency business on July 1, 2024, which contributed **$2.7 million** in income in Q1 2024[197](index=197&type=chunk) - Noninterest expense increased slightly, including **$791 thousand** in expenses related to the merger with The First[204](index=204&type=chunk) [Risk Management](index=56&type=section&id=Risk%20Management) The company manages credit, interest rate, and liquidity risks, with the allowance for credit losses at **$203.9 million** and nonperforming loans decreasing to **0.76%** of total loans, while maintaining an asset-sensitive interest rate position and robust liquidity Credit Quality Metrics | Metric | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Allowance for Credit Losses (ACL) on Loans | $203,931 thousand | $201,756 thousand | | ACL to Total Loans | 1.56% | 1.56% | | Nonperforming Loans (NPLs) | $98,733 thousand | $113,275 thousand | | NPLs to Total Loans | 0.76% | 0.88% | | ACL to NPLs (Coverage Ratio) | 206.55% | 178.11% | Interest Rate Sensitivity Analysis (as of March 31, 2025) | Rate Shock (bps) | % Change in EVE | % Change in NII (1-12 Mo) | | :--- | :--- | :--- | | +100 | 2.55% | 2.72% | | -100 | (3.49)% | (3.77)% | | -200 | (8.01)% | (6.99)% | [Liquidity and Capital Resources](index=64&type=section&id=Liquidity%20and%20Capital%20Resources) Core deposits are the primary liquidity source, supplemented by investment portfolio and credit lines, with **$3.8 billion** available from FHLB and **$662.6 million** from the Federal Reserve, while shareholders' equity reached **$2.73 billion** with strong capital ratios - Core deposits are the major source of funds. The company did not hold any brokered deposits at March 31, 2025[252](index=252&type=chunk) - Total available credit from the FHLB was **$3.82 billion** and from the Federal Reserve Discount Window was **$662.6 million** at quarter-end[178](index=178&type=chunk)[255](index=255&type=chunk) - Shareholders' equity grew to **$2.73 billion**, with book value per share at **$42.79**. The company did not repurchase any common stock in Q1 2025 under its **$100 million** repurchase program[271](index=271&type=chunk)[272](index=272&type=chunk) - Unfunded loan commitments stood at **$3.32 billion** and standby letters of credit at **$89.3 million** as of March 31, 2025[266](index=266&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=69&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in market risk have occurred since December 31, 2024, with further information available in the 2024 Annual Report on Form 10-K - There have been no material changes in market risk since December 31, 2024[279](index=279&type=chunk) [Item 4. Controls and Procedures](index=69&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of quarter-end, with no material changes to internal control over financial reporting during Q1 2025 - Disclosure controls and procedures are deemed effective as of March 31, 2025[280](index=280&type=chunk) - No material changes in internal control over financial reporting occurred during the first quarter of 2025[280](index=280&type=chunk) PART II: Other Information [Item 1A. Risk Factors](index=70&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred in the risk factors previously disclosed in the 2024 Annual Report on Form 10-K - There have been no material changes from the risk factors set forth in the 2024 Annual Report on Form 10-K[281](index=281&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=70&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred in Q1 2025, with **89,660** shares repurchased solely for tax liabilities related to vested restricted stock awards, not under the public repurchase program - No unregistered sales of equity securities occurred during the quarter[282](index=282&type=chunk) - A total of **89,660** shares were repurchased to satisfy tax liabilities from vested stock awards. No shares were bought back under the public repurchase plan, which has **$100 million** remaining authorization through October 2025[283](index=283&type=chunk)[285](index=285&type=chunk) [Item 5. Other Information](index=71&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2025 - No director or officer adopted or terminated a Rule 10b5-1 trading plan during Q1 2025[286](index=286&type=chunk) [Item 6. Exhibits](index=71&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the merger agreement, corporate governance documents, and officer certifications - The report includes various exhibits, such as the merger agreement, corporate governance documents, and required officer certifications[287](index=287&type=chunk)

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 ...

First Quarter 2025 Earnings Call Forward-Looking Statements This presentation may contain various statements about Renasant Corporation ("Renasant," "we," "our," or "us") that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "projects," "anticipates," "intends," "estimates," "plan ...

Renasant Corporation. (NYSE:RNST) Q1 2025 Earnings Conference Call April 23, 2025 10:00 AM ET Company Participants Kelly Hutcheson - Chief Accounting Officer Mitchell Waycaster - Executive Vice Chairman and Chief Executive Officer Kevin Chapman - President and Chief Operating Office James Mabry - Chief Financial Officer and Senior Executive Vice President David Meredith - Chief Credit Officer and Senior Executive Vice President Conference Call Participants Stephen Scouten - Piper Sandler Michael Rose - Raym ...

Renasant (RNST) Q1 2025 Earnings Call April 23, 2025 10:00 AM ET Company Participants Kelly Hutcheson - Executive VP & Chief Accounting OfficerMitchell Waycaster - CEO & Executive Vice ChairmanKevin Chapman - President & COOJames Mabry - Senior Executive VP & CFODavid Meredith - Senior EVP & Chief Credit OfficerMichael Rose - Managing Director - Equity ResearchCatherine Mealor - Managing Director - Equity ResearchDavid Bishop - DirectorMatt Olney - Managing Director Conference Call Participants Stephen Scou ...

For the quarter ended March 2025, Renasant (RNST) reported revenue of $170.59 million, up 3.6% over the same period last year. EPS came in at $0.66, compared to $0.65 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $166.92 million, representing a surprise of +2.20%. The company delivered an EPS surprise of +10.00%, with the consensus EPS estimate being $0.60.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Renasant shares have lost about 21.9% since the beginning of the year versus the S&P 500's decline of -12.3%. Renasant (RNST) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.65 per share a year ago. These figures are ad ...

Financial Performance - Net income for Q1 2025 was $41.5 million, with diluted EPS at $0.65 and adjusted diluted EPS at $0.66[4] - Net income (GAAP) for the three months ended March 31, 2025, was $41,518,000, a decrease of 6.2% from $44,747,000 in the previous quarter[30] - Adjusted diluted earnings per share (non-GAAP) was $0.66, compared to $0.73 in the previous quarter, indicating a decrease of 9.6%[31] - Adjusted pre-provision net revenue (non-GAAP) increased to $57,507,000 for the quarter, up from $54,177,000 in the previous quarter, reflecting a growth of 4.9%[30] - Return on average equity (GAAP) was 6.25% for the quarter, down from 6.70% in the previous quarter[31] Merger and Acquisition - The merger with The First Bancshares, Inc. was completed on April 1, 2025, adding approximately $8.0 billion in assets, including $5.4 billion in loans and $6.5 billion in deposits[4] - The company completed a merger with The First Bancshares, Inc., which is expected to enhance operational efficiency and customer retention[23] Asset and Liability Management - Total assets as of March 31, 2025, reached $18,271,381,000, up from $18,034,868,000 at the end of 2024[13] - Total liabilities rose to $15,544,276,000 as of March 31, 2025, compared to $15,356,550,000 at the end of 2024[13] - Shareholders' equity increased to $2,727,105,000 in Q1 2025, compared to $2,678,318,000 in Q4 2024[14] - Average shareholders' equity (GAAP) rose to $2,692,681,000, an increase of 1.3% from $2,656,885,000 in the previous quarter[30] Loan and Deposit Growth - Loans increased by $170.6 million linked quarter, representing an annualized net loan growth of 5.4%[7] - Deposits increased by $199.5 million linked quarter, with noninterest-bearing deposits making up 24.0% of total deposits[7] - Total deposits increased to $14,772,095,000 in Q1 2025, compared to $14,572,612,000 in Q4 2024, marking a growth of 1.37%[13] - Loans held for investment increased to $13,055,593,000 in Q1 2025, compared to $12,885,020,000 in Q4 2024, representing a growth of 1.32%[13] Noninterest Income and Expense - Noninterest income rose by $2.2 million linked quarter, driven by increased mortgage banking income and gains on the sale of SBA loans[4] - Total noninterest income for Q1 2025 was $36,395,000, an increase from $34,218,000 in Q4 2024[11] - The company reported total noninterest expense of $113,876,000 for Q1 2025, a slight decrease from $114,747,000 in Q4 2024[11] - Noninterest expense for Q1 2025 was $113,876,000, slightly down from $114,747,000 in Q4 2024[32] Credit Quality - The provision for credit losses was $4.8 million for Q1 2025, up $2.6 million linked quarter[7] - Nonperforming loans to total loans decreased to 0.76% at March 31, 2025, compared to 0.88% at December 31, 2024[7] - Nonperforming loans decreased to $98,733 as of March 31, 2025, down from $113,275 as of December 31, 2024, indicating a reduction of 12.83%[17] - The allowance for credit losses on loans was $203,931,000 as of March 31, 2025, slightly up from $201,756,000 at the end of 2024[13] Operational Efficiency - The adjusted efficiency ratio improved to 64.43% in Q1 2025 from 65.82% in Q4 2024[32] - Pre-provision net revenue to average assets (non-GAAP) was 1.28%, up from 1.16% in the previous quarter, indicating improved efficiency[31] Economic and Strategic Considerations - Renasant Corporation's management emphasizes the importance of monitoring economic conditions and competitive pressures as part of their strategic planning[23] - The company operates 280 banking, lending, mortgage, and wealth management offices throughout the Southeast, with nationwide factoring and asset-based lending services[21]

TUPELO, Miss., April 22, 2025 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") today announced earnings results for the first quarter of 2025. (Dollars in thousands, except earnings per share)Three Months Ended Mar 31, 2025Dec 31, 2024Mar 31, 2024Net income and earnings per share:   Net income$41,518$44,747$39,409Basic EPS 0.65 0.70 0.70Diluted EPS 0.65 0.70 0.70Adjusted diluted EPS (Non-GAAP)(1) 0.66 0.73 0.65        "Results for the quarter represent a good start to the year with solid ...

Renasant (RNST) shares soared 7.9% in the last trading session to close at $30.07. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.4% loss over the past four weeks.Renasant shares rallied sharply, benefiting from broad market strength following President Donald Trump’s announcement of a 90-day suspension on tariffs for non-retaliating countries. The policy shift eased trade tensions and improved market sentiment, fueling a sha ...