Summary of Renasant Corporation's Public Offering Core Viewpoint Renasant Corporation has announced a public offering of common stock, aiming to raise approximately $190 million for general corporate purposes, including investments in Renasant Bank and future strategic acquisitions. Group 1: Offering Details - The Corporation is offering 6,250,000 shares of common stock at a public price of $32.00 per share, totaling an aggregate offering amount of $200 million [5] - Underwriters have a 30-day option to purchase an additional 937,500 shares at the public offering price, less underwriting discounts [5] - The expected net proceeds from the offering, after deducting underwriting discounts, will be approximately $190 million [1] Group 2: Company Background - Renasant Corporation is the parent company of Renasant Bank, which has been in operation for 120 years [8] - The Corporation has assets of approximately $17.5 billion and operates 185 banking, lending, mortgage, and wealth management offices across several states, including Mississippi, Tennessee, Alabama, Florida, Georgia, North Carolina, and South Carolina [8] Group 3: Management and Underwriters - Stephens Inc. is acting as the lead book-running manager for the offering, with Raymond James & Associates, Inc. as the joint book-running manager [6] - Additional co-managers for the offering include Janney Montgomery Scott LLC, Piper Sandler & Co., and Hovde Group, LLC [6]

Headquartered in Hattiesburg, Mississippi, The First operates 111 branches across Mississippi, Louisiana, Alabama, Florida and Georgia. As of June 30, 2024, The First had approximately $8.0 billion in total assets, $5.3 billion in total loans and $6.6 billion in total deposits. The Merger will create a six-state Southeastern banking franchise with approximately $25 billion in total assets, $18 billion in total loans and $21 billion in total deposits, based on financial data as of June 30, 2024. "As two of t ...

Renasant Corporation (NYSE:RNST) Q2 2024 Earnings Conference Call July 24, 2024 10:00 AM ET Company Participants Kelly Hutcheson - Chief Accounting Officer Mitch Waycaster - Executive Vice Chairman & Chief Executive Officer Jim Mabry - Chief Financial Officer Kevin Chapman - President & Chief Operating Officer David Meredith - Senior Executive Vice President & Chief Credit Officer Conference Call Participants Stephen Scouten - Piper Sandler Michael Rose - Raymond James Catherine Mealor - KBW Dave Bishop - H ...

For the quarter ended June 2024, Renasant (RNST) reported revenue of $163.79 million, up 11.1% over the same period last year. EPS came in at $0.69, compared to $0.83 in the year-ago quarter. The reported revenue represents a surprise of +0.02% over the Zacks Consensus Estimate of $163.75 million. With the consensus EPS estimate being $0.67, the EPS surprise was +2.99%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

Financial Performance - Renasant reported quarterly earnings of $0.69 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, but down from $0.83 per share a year ago, representing an earnings surprise of 2.99% [1] - The company posted revenues of $163.79 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.02%, and up from $147.44 million year-over-year [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $166.95 million, and for the current fiscal year, it is $2.71 on revenues of $662.35 million [7] - The estimate revisions trend for Renasant is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Market Comparison - Renasant shares have increased approximately 7.7% since the beginning of the year, while the S&P 500 has gained 16.7% [3] - The Zacks Industry Rank for Banks - Southeast is currently in the bottom 38% of over 250 Zacks industries, suggesting that the industry outlook may impact stock performance [8]

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Core Viewpoint - Renasant Corporation reported its earnings results for the second quarter of 2024, highlighting a solid performance with growth in loans and net interest income, despite a decrease in noninterest income and an increase in nonperforming loans [1][5]. Earnings Summary - Loans increased by $104.2 million on a linked quarter basis, reflecting a 3.4% annualized net loan growth [2]. - Securities decreased by $39.2 million due to net cash outflows of $43.1 million and a positive fair market value adjustment of $3.9 million [2]. - Deposits increased by $18.1 million, with noninterest-bearing deposits representing 24.8% of total deposits [2]. Credit Quality - The provision for credit losses was $3.3 million, up from $2.4 million in the previous quarter [3]. - The allowance for credit losses on loans to total loans ratio was 1.59%, slightly down from 1.61% [3]. - Nonperforming loans increased to 0.78% of total loans, compared to 0.59% in the previous quarter [4]. Income Statement Highlights - Net income for Q2 2024 was $38.8 million, with diluted EPS and adjusted diluted EPS both at $0.69 [7]. - Net interest income was $127.6 million, an increase of $1.7 million from the previous quarter, with a net interest margin of 3.31% [7]. - Noninterest income decreased by $2.6 million primarily due to a drop in mortgage banking income [7]. Capital and Liquidity - Book value per share increased by 1.3% and tangible book value per share by 2.4% on a linked quarter basis [8]. - The company has a $100 million stock repurchase program in effect through October 2024, with no buyback activity during Q2 2024 [8]. Balance Sheet Overview - Total assets as of June 30, 2024, were $17.51 billion, up from $17.35 billion at the end of the previous quarter [13][14]. - Total deposits were $14.26 billion, reflecting a slight increase from $14.24 billion [14]. - The company reported a total shareholders' equity of $2.35 billion, up from $2.32 billion [14].

None of the non-GAAP financial information that the Company has included in this release or the accompanying presentation slides are intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Investors should note that, because there are no standardized definitions for the calculations as well as the results, the Company's calculations may not be comparable to similarly titled measures presented by other companies. Also, there may be limits in the usefulness ...

For Financials: James C. Mabry IV Executive Vice President Chief Financial Officer (662) 680-1281 jim.mabry@renasant.com TUPELO, Miss., July 08, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") will announce 2024 second quarter results following the NYSE's closing on Tuesday, July 23, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, July 24, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). Contacts For Media: ...

TUPELO, Miss., July 08, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (the "Company") will announce 2024 second quarter results following the NYSE's closing on Tuesday, July 23, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, July 24, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). For Financials: James C. Mabry IV Executive Vice President Chief Financial Officer (662) 680-1281 jim.mabry@renasant.com The webcast will be ...