Core Insights - Renasant reported revenue of $170.59 million for Q1 2025, reflecting a 3.6% increase year-over-year and surpassing the Zacks Consensus Estimate of $166.92 million by 2.20% [1] - The company's EPS for the quarter was $0.66, up from $0.65 in the same quarter last year, exceeding the consensus estimate of $0.60 by 10.00% [1] Financial Performance Metrics - Efficiency ratio (GAAP) was 65.5%, better than the average estimate of 66.6% from three analysts [4] - Net Interest Margin stood at 3.5%, slightly above the 3.4% average estimate based on three analysts [4] - Total Nonperforming Loans amounted to $98.73 million, significantly lower than the average estimate of $116.73 million from two analysts [4] - Total Nonperforming Assets were reported at $107.39 million, compared to the average estimate of $126.91 million from two analysts [4] - Average Balance of Total interest-earning assets was $16.14 billion, slightly below the average estimate of $16.19 billion from two analysts [4] - Net Interest Income reached $134.20 million, exceeding the average estimate of $132.15 million from three analysts [4] - Net Interest Income (FTE) was $137.43 million, higher than the average estimate of $134.73 million from three analysts [4] - Total Noninterest Income was $36.40 million, surpassing the average estimate of $34.77 million from three analysts [4] Stock Performance - Renasant shares have declined by 22% over the past month, while the Zacks S&P 500 composite has decreased by 8.9% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Renasant (RNST) reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.60 per share, and showing a slight increase from $0.65 per share a year ago, resulting in an earnings surprise of 10% [1] - The company achieved revenues of $170.59 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.20% and increasing from $164.67 million year-over-year [2] Earnings Performance - Renasant has consistently surpassed consensus EPS estimates over the last four quarters, with the most recent quarter showing a significant earnings surprise of 19.67% compared to the expected $0.61 per share [1][2] - The current consensus EPS estimate for the upcoming quarter is $0.51, with projected revenues of $256.61 million, and for the current fiscal year, the estimate is $2.84 on revenues of $960.92 million [7] Stock Performance and Outlook - Renasant shares have declined approximately 21.9% year-to-date, contrasting with the S&P 500's decline of 12.3% [3] - The company's earnings outlook is favorable, with a Zacks Rank of 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6] Industry Context - The Banks - Southeast industry, to which Renasant belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

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 ...

Core Points - Renasant Corporation will announce its 2025 first quarter results on April 22, 2025, after the NYSE closes [1] - A quarterly webcast and conference call with analysts is scheduled for April 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 across the Southeast [4]

TUPELO, Miss., April 01, 2025 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) ("Renasant" or "the Company") announced today that it has completed its merger with The First Bancshares, Inc., the parent company of The First Bank ("The First"), effective April 1, 2025. ABOUT RENASANT CORPORATION: Although the merger has been completed, full conversion and integration of The First's operations into Renasant's is expected to be completed in early August 2025. Until the conversion is completed, The First's c ...

TUPELO, Miss. and HATTIESBURG, Miss., March 17, 2025 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (“Renasant”) and The First Bancshares, Inc. (NYSE: FBMS) (“The First”) jointly announced today that they have received all necessary regulatory approvals to complete the proposed merger of The First with and into Renasant, and the related merger of The First’s wholly owned subsidiary, The First Bank, with and into Renasant Bank, Renasant’s wholly owned subsidiary. Renasant and The First previously anno ...

Lending Activities - Renasant Corporation's lending activities accounted for approximately 77.7%, 82.8%, and 75.1% of total gross revenues in 2024, 2023, and 2022 respectively[28] - As of December 31, 2024, commercial, financial, and agricultural loans represented approximately 14.64% of total loans[31] - Residential real estate loans comprised approximately 27.07% of total loans as of December 31, 2024, with $2.0 billion originated for sale on the secondary market in 2024[34] - Commercial real estate loans accounted for approximately 48.40% of total loans as of December 31, 2024[37] - Construction loans represented approximately 8.49% of total loans as of December 31, 2024[40] - Installment loans to individuals accounted for approximately 0.70% of total loans as of December 31, 2024[42] - Equipment financing loans also represented approximately 0.70% of total loans as of December 31, 2024[43] - The Company actively manages its loan portfolio to avoid excessive concentrations in any particular loan category, industry, or geographic region[45] Strategic Initiatives - The proposed merger with The First Bancshares, Inc. is expected to close in the first half of 2025, pending regulatory approvals[24] - The strategic plan focuses on attracting high-quality deposits, generating organic loan growth, and increasing noninterest income[21] - The company centralized legal, accounting, investment, risk management, and other functions to maintain consistent quality and achieve economies of scale[20] Revenue Sources - Investment income from investment activities was approximately 3.9%, 1.1%, and 7.9% of total gross revenues for 2024, 2023, and 2022, respectively[46] - Fees from deposit services accounted for approximately 4.9%, 5.7%, and 7.6% of total gross revenues in 2024, 2023, and 2022, respectively[49] - The Wealth Management segment generated total revenue of $25.9 million, or 2.4% of the Company's total gross revenues for 2024[52] - Prior to its sale in July 2024, Renasant Insurance, Inc. generated total revenue of $7.4 million, or 0.1% of total gross revenues for 2024[53] Regulatory Compliance - The Company is subject to supervision and regulation by multiple authorities, including the Federal Reserve and the FDIC, due to its status as a bank holding company with over $10 billion in assets[56] - The Federal Reserve has established risk-based capital guidelines that require a minimum Tier 1 capital ratio of at least 4% for bank holding companies[65] - The Company has not elected to become a financial holding company, which would allow it to engage in certain non-banking activities without prior Federal Reserve approval[62] - The company must maintain a common equity Tier 1 capital (CET1) ratio of at least 4.5% and a minimum total risk-based capital ratio of 8%[83] - The capital conservation buffer required is 2.5% of CET1 to risk-weighted assets, which restricts dividend payments if not met[83] - The company is classified as "well capitalized" if it has a total risk-based capital ratio of 10% or more[86] - The bank's deposits are insured up to $250,000 per account through the Deposit Insurance Fund (DIF)[75] - The minimum designated reserve ratio of the DIF is 1.35% of total insured deposits, with the FDIC authorized to set a higher ratio[75] - The bank's ability to pay dividends is contingent upon its earnings and financial condition, as well as regulatory approvals[79] - The bank must be "well capitalized" and "well managed" to acquire banks outside its home state[69] - The bank is subject to significant regulatory scrutiny due to its asset size exceeding $10 billion, including compliance with federal consumer protection laws[74] - The FDIC can terminate deposit insurance if the bank engages in unsafe practices or is in poor financial condition[77] - The company incurs significant expenses related to compliance with laws and regulations, impacting its financial performance[73] Employee and Operational Insights - The bank employs over 2,200 people on a full-time equivalent basis as of December 31, 2024[110] - The bank received a "satisfactory" rating from the FDIC regarding its compliance with the Community Reinvestment Act in its most recent assessment[100] - The bank has established policies and procedures to ensure compliance with federal anti-money laundering laws and regulations[103] - The bank's employees participated in a satisfaction survey with a participation rate of over 90%, indicating general satisfaction with working conditions[111] - The bank's privacy policy requires customers to be informed about their financial information sharing options and allows them to opt out[101] - The bank's compensation standard states that compensation will be considered excessive if it is unreasonable or disproportionate to the services performed[94] - The bank has implemented numerous controls and procedures to comply with consumer protection laws, which are regularly tested for accuracy[99] - The bank's funding sources primarily consist of customer deposits, loan repayments, and cash flows from investment securities[109] - The bank's compliance with safety and soundness standards is monitored, and corrective plans are required if deficiencies are identified[95] Capital and Loan Metrics - As of December 31, 2024, the bank's ADC loans represented 65% of total bank level capital, while total CRE loans represented 273% of total bank level capital[93]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell even higher, with the expectation that established trends will continue [1] Company Overview: Renasant (RNST) - Renasant currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting it is expected to outperform the market [3] Performance Metrics - RNST shares have increased by 6.32% over the past week, significantly outperforming the Zacks Banks - Southeast industry, which rose by 0.43% [5] - Over the past month, RNST's price change is 12.66%, compared to the industry's 5.24% [5] - In the last quarter, RNST shares rose by 6.24%, and over the past year, they increased by 27.79%, while the S&P 500 saw gains of 5.14% and 24.19%, respectively [6] Trading Volume - RNST's average 20-day trading volume is 509,609 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, four earnings estimates for RNST have been revised upwards, with no downward revisions, raising the consensus estimate from $2.49 to $2.68 [9] - For the next fiscal year, three estimates have also moved higher without any downward revisions [9] Conclusion - Given the strong performance metrics and positive earnings outlook, RNST is positioned as a strong buy with a Momentum Score of A, making it a compelling investment option [11]