Financial Data and Key Metrics Changes - The second quarter earnings were $39.7 million or $0.71 per diluted share, compared to $33.5 million or $0.60 per diluted share in the first quarter, with year-to-date diluted earnings per share at $1.30 compared to $1.75 in 2021 [10][11] - Net interest income increased by $13.9 million quarter-over-quarter, with the core margin up 29 basis points from Q1 [18][19] - The adjusted efficiency ratio declined to 62%, a decrease of approximately 5 percentage points on a linked-quarter basis [14] Business Line Data and Key Metrics Changes - Strong loan production led to total loans increasing by $290 million from Q1, with net loan growth across nearly all categories [15] - The mortgage division faced volatility but remained profitable, while wealth management and insurance divisions produced solid results [12][20] - Non-interest expenses increased by approximately $2.2 million for the quarter, with salaries and benefits rising by $3.3 million due to annual merit increases and minimum wage adjustments [21] Market Data and Key Metrics Changes - The average deposit account on the consumer side is less than $20,000, indicating a granular deposit base that supports funding stability [26] - Core loan yields improved to around 4.07% in June, up 30 to 40 basis points from the previous quarter [65] Company Strategy and Development Direction - The company remains focused on core deposits as the primary funding source, contributing to first-half success [8] - There is an emphasis on expense control and profitability improvement, with expectations for further enhancements in the second half of 2022 [8] - The company continues to seek opportunities to add talent while reallocating resources to maximize revenue [55][58] Management's Comments on Operating Environment and Future Outlook - Management anticipates loan growth to continue but at a more moderate pace for the remainder of the year, with a focus on maintaining good liquidity and asset quality [7][8] - The company is prepared for potential economic headwinds but remains optimistic about its ability to produce net growth [35] - Management expects non-interest expenses for the full year of 2022 to be less than 21% despite inflationary pressures [13] Other Important Information - The company recorded a credit provision of $2 million and net charge-offs of $2.3 million, with the allowance for credit losses (ACL) as a percentage of total loans declining from 1.61% to 1.57% [17] - The company is comfortable reducing excess cash and liquidity from $1 billion to a floor of approximately $450 million to $500 million to fund loan growth [62] Q&A Session Summary Question: Thoughts on deposit costs and betas moving forward - Management has focused on improving the deposit mix, increasing non-interest-bearing deposits by about 10 percentage points over the last few years, but expects costs to rise in Q3 and Q4 [26][28] Question: Outlook for mortgage portfolio growth - The current pipeline shows an increase, with $297 million compared to $290 million the previous quarter, indicating potential for continued production despite expected moderation [30][32] Question: Efficiency ratio in the mortgage business - The mortgage efficiency ratio was about 85% in Q2, expected to remain steady or increase slightly in Q3, with a focus on maintaining profitability [40][42] Question: Credit quality and ACL ratio outlook - The ACL ratio is expected to hold steady as loan growth continues, with no significant deterioration in credit quality observed [49] Question: Dynamics of net interest income and margin expansion - The outlook for margin expansion is positive, with expectations for meaningful improvement in Q3 driven by rate moves rather than balance sheet growth [46][51]

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, 2022 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: ...

Financial Data and Key Metrics Changes - The company's first quarter earnings were $34 million or $0.60 per diluted share, compared to $37 million or $0.66 per diluted share in the fourth quarter of 2021 [12] - Total loans increased by $293 million from Q4 of 2021, with strong production of $863 million in new loans [19][60] - Net interest income declined by $1.8 million quarter-over-quarter primarily due to two fewer days of interest income recognition [22] Business Line Data and Key Metrics Changes - The banking division experienced solid loan growth, with 11% annualized loan growth excluding acquired loans from Southeastern Commercial Finance [13] - The insurance and wealth management divisions produced strong results, contributing to overall performance [14][25] - Non-interest expenses decreased by approximately $700,000 for the quarter, reflecting ongoing expense discipline [26] Market Data and Key Metrics Changes - The company operates in growth markets with strong migration and business development activities, contributing to optimism about future growth [9] - The pipeline for loans increased to $290 million, up from $284 million in the prior quarter, indicating healthy deal flow [59] Company Strategy and Development Direction - The company plans to eliminate consumer non-sufficient fund fees and certain other consumer deposit-related fees, effective January 1, 2023, which totaled $1.3 million in the first quarter of 2022 [16] - The company remains opportunistic in exploring additional business lines and asset-based lending opportunities [72] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to grow despite economic headwinds, emphasizing the importance of maintaining a strong balance sheet [10] - The company anticipates total non-interest expense for the full year of 2022 to be less than in 2021, despite some linked quarter increases expected in Q2 [15] Other Important Information - The company recorded a credit provision of $1.5 million and net charge-offs of $851,000, with credit quality metrics remaining stable [20][21] - The efficiency ratio for Q1 was impacted by the return to normal in the mortgage division, with mortgage efficiency increasing significantly [38] Q&A Session Summary Question: Inquiry about expenses and future trajectory - Management indicated that total expenses are expected to increase by $2 million to $3 million on a quarterly basis, with a focus on maintaining efficiency [36] Question: Update on efficiency ratio targets - Management reiterated a short-term target of achieving a 60% efficiency ratio, dependent on interest rates and loan growth [37] Question: Outlook on mortgage expenses and revenue - Management believes that current mortgage expenses are reflective of the run rate, but further efficiency improvements may be possible [44] Question: Expectations for loan growth sustainability - Management expressed optimism about loan growth sustainability, with a strong pipeline and moderated payoffs contributing positively [67] Question: Discussion on deposit growth and mix changes - Management is hopeful for continued deposit growth, anticipating shifts in deposit mix as interest rates rise [80] Question: Branch rationalization efforts - Management confirmed ongoing branch rationalization efforts as part of their strategy to lower expenses and improve profitability [84]

First Quarter 2022 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 001-13253 RENASANT CORPORATION (Exact name of registrant as specified in its charter) Mississippi 64-0 ...

Fourth Quarter 2021 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," "pla ...

Financial Data and Key Metrics Changes - The company reported fourth quarter earnings of $37 million, or $0.66 per diluted share, compared to $40 million, or $0.71 per diluted share in the third quarter. For the year, earnings were $3.12 per diluted share compared to $1.48 in 2020 [15][16] - Net interest income declined by $1.8 million quarter-over-quarter, primarily due to a slowdown in PPP loan forgiveness [29] - The allowance for credit losses (ACL) as a percentage of loans, excluding PPP, decreased from 1.71% to 1.65% [27] Business Line Data and Key Metrics Changes - The insurance and wealth management lines experienced seasonal slowdowns in Q4 but showed strong results for the full year [17] - The mortgage division faced a seasonal decline in volumes and compression on gain on sale margins, resulting in lower contributions for the fourth quarter [17] - The treasury solutions and capital markets teams outperformed in Q4, helping to offset declines in the mortgage division [31] Market Data and Key Metrics Changes - Noninterest bearing deposits represented 34% of total deposits at the end of the quarter [21] - The company had approximately $1.9 billion in cash, with expectations of reducing this position through growth in the securities portfolio and loans [23] Company Strategy and Development Direction - The company aims to focus on core deposits, asset quality, capital strength, and improving profitability to build shareholder value [35] - The company is committed to technology and innovation to meet evolving customer needs, emphasizing mobile and digital applications [19] - The company plans to continue evaluating acquisition opportunities, particularly in the $1 billion to $5 billion range, including both banks and non-banks [41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic strength of their markets and the outlook for growth, noting that industries hard hit by COVID have largely rebounded [12][13] - The company anticipates continued loan growth and is hopeful about improving production despite challenges related to payoffs [74] - Management highlighted the importance of loan growth as a key variable for margin outlook, with expectations for stabilization in net interest margin (NIM) [76] Other Important Information - The company issued $200 million of 10-year subordinated notes at a fixed rate of 3% for the first five years [26] - The company reported a gain of $4.7 million from terminating cash flow hedges linked to future FHLB borrowings [32] Q&A Session Summary Question: Current intent on stock repurchase and capital deployment - Management indicated no current intent to repurchase stock, focusing instead on other capital deployment opportunities such as balance sheet growth and acquisitions [40] Question: M&A focus areas - Management is considering both banks and non-banks for acquisitions, likely in the $1 billion to $5 billion range, with a focus on complementing existing business lines [41] Question: Security portfolio growth expectations - Management expects to continue building the securities portfolio slightly in the near term, with no absolute cap in mind [48] Question: NIM trends and expectations - Management sees signs of NIM stabilizing and expects net interest income to grow in the coming quarters, largely due to balance sheet growth [49][50] Question: Impact of rising rates on NII - Management anticipates that the impact of rising rates will likely increase NII sensitivity, with expectations for a slight increase from the previous quarter [51] Question: Expense guidance for 2022 - Management expects expenses to be lower in 2022, driven by efficiency initiatives and careful hiring practices [57] Question: Headcount and cost reduction strategies - Management noted a year-over-year decrease in headcount, with ongoing efforts to reduce costs across various expense categories [64] Question: NSF fees policy changes - Management is evaluating changes to NSF fees, having previously reduced reliance on them and focusing on customer satisfaction [90]

Financial Performance - Net income for Q3 2021 was $40,063, an increase from $29,992 in Q3 2020, with EPS rising to $0.71 from $0.53[207] - Net interest income for Q3 2021 was $103,292, slightly down from $106,286 in Q3 2020, while for the nine months ended September 30, 2021, it was $322,519 compared to $318,670 in the same period of 2020[211] - Net interest income for the nine months ended September 30, 2021, was $327,625 million, a decrease of 5.2% from $345,232 million in the same period of 2020[217] - Noninterest income for Q3 2021 was $50,755 million, down from $70,928 million in Q3 2020, while for the nine months ended September 30, 2021, it increased to $179,402 million from $172,668 million in 2020[226] - Investment income for Q3 2021 increased to $8,985 million from $7,678 million in Q3 2020, but decreased to $23,992 million for the nine months ended September 30, 2021, down from $25,757 million in the same period of 2020[222] Asset and Liability Management - Total assets increased to $16,155,550 as of September 30, 2021, from $14,929,612 at December 31, 2020, representing an increase of approximately 8.2%[190] - Total loans, excluding loans held for sale, decreased to $10,016,824 at September 30, 2021, down from $10,933,647 at December 31, 2020, a decline of about 8.4%[196] - Total deposits rose to $13,254,829 at September 30, 2021, compared to $12,059,081 at December 31, 2020, marking an increase of approximately 9.9%[200] - Total interest-earning assets increased to $13,869,538 million for the nine months ended September 30, 2021, compared to $12,475,561 million in 2020, reflecting a growth of 11.2%[213] - Total interest-bearing liabilities increased to $9,095,020 million for the nine months ended September 30, 2021, compared to $8,776,993 million in 2020[213] Credit Quality and Losses - The allowance for credit losses on loans was $170,038 as of September 30, 2021, representing 1.70% of total loans[264] - The Company recorded a negative provision (recovery) for credit losses of $1,200 during the third quarter of 2021, compared to a provision of $23,100 in Q3 2020[262] - Net charge-offs for the first nine months of 2021 were $4,906, or 0.06% of average loans, compared to $2,898, or 0.04% for the same period in 2020[255] - Nonperforming loans as a percentage of total loans was 299.68% as of September 30, 2021[264] - The Company’s allowance for credit losses model considers economic projections, primarily the national unemployment rate and GDP, over a two-year forecast period[263] Capital Management - Total shareholders' equity increased to $2,203,944 at September 30, 2021, compared to $2,132,733 at December 31, 2020, with a book value per share of $39.53[305] - Common equity tier 1 capital ratio for Renasant Corporation is 11.02%, exceeding the well-capitalized minimum requirement of 6.50%[313] - Total risk-based capital ratio for Renasant Corporation is 14.66%, above the well-capitalized minimum requirement of 10.00%[313] - The Company has junior subordinated debentures with a carrying value of $111,228, of which $107,637 is included in Tier 1 capital as of September 30, 2021[309] - The Company has subordinated notes with a carrying value of $207,210, with $197,360 included in Tier 2 capital as of September 30, 2021[310] Interest Rate Risk Management - The company actively monitors interest rate risk through its Asset/Liability Committee to manage the impact of interest rate fluctuations on profitability[282] - The projected impact of a +200 basis points change in interest rates results in an 11.83% increase in Economic Value Equity (EVE) and a 16.87% increase in earnings at risk (net interest income) for the 1-12 month period[285] - As of September 30, 2021, the Company had notional amounts of $190,200 in interest rate contracts with corporate customers and an equal amount in offsetting contracts with other financial institutions[287] Operational Efficiency - The efficiency ratio (GAAP) for Q3 2021 was 66.77%, compared to 65.16% in Q3 2020, and for the nine months, it was 64.85% in 2021 versus 70.49% in 2020[246] - Adjusted Efficiency Ratio (non-GAAP) for the three months ended September 30, 2021, is 66.06%[316] - Noninterest expense decreased to $103,999 for Q3 2021 from $116,510 in Q3 2020, and for the nine months ended September 30, 2021, it was $328,711 compared to $349,836 in 2020[235] Deposit Composition - Noninterest-bearing deposits increased to $4,492,650 at September 30, 2021, from $3,685,048 at December 31, 2020, reflecting a growth of about 21.9%[200] - Noninterest-bearing deposits represented 33.89% of total deposits at September 30, 2021, compared to 30.56% at December 31, 2020, driven by government stimulus payments[224] - Public fund deposits rose to $1,534,547 as of September 30, 2021, compared to $1,398,330 at December 31, 2020[202] Loan Portfolio - Total real estate – commercial mortgage loans accounted for 45.27% of total loans as of September 30, 2021[198] - The Company’s loan portfolio includes $73,895 million in commercial mortgages, accounting for 45.27% of total loans as of September 30, 2021[261] - Loans held for sale increased to $452,869 at September 30, 2021, compared to $417,771 at December 31, 2020, an increase of approximately 8.4%[195] - The Company had 41 loans on deferral with an aggregate balance of approximately $3,360, representing 0.04% of the loan portfolio (excluding PPP loans) as of September 30, 2021[248] Stock Repurchase and Shareholder Returns - The Company repurchased $21,315 of its common stock at a weighted average price of $34.82 per share during the first nine months of 2021[307] - A new stock repurchase program was approved on October 26, 2021, authorizing the repurchase of up to $50,000 of outstanding common stock[308]

Renasant Corporation (NYSE:RNST) Q3 2021 Results Earnings Conference Call October 29, 2021 10:00 AM ET Company Participants Kelly Hutcheson - Executive Vice President and Chief Accounting Officer Mitch Waycaster - President, Chief Executive Officer Kevin Chapman - Executive Vice President, Chief Operating Officer Jim Mabry - Executive Vice President, Chief Financial Officer David Meredith - Executive Vice President; Chief Credit Conference Call Participants Brad Milsaps - Piper Sandler Kevin Fitzsimmons - D ...

Third Quarter 2021 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 ...