Renasant (US:RNST)2026-01-27 21:39Financial Performance - Net income for Q4 2025 was $78.9 million, an increase from $44.7 million in Q4 2024, with diluted EPS at $0.83 compared to $0.70 in the previous year[3] - Net income for the three months ended December 31, 2025, was $78,948,000, compared to $59,788,000 for the previous quarter, representing a 32.5% increase[31] - Adjusted net income for the twelve months ending December 31, 2025, was $267,816,000, compared to $165,066,000 for the previous year, showing a 62.2% year-over-year growth[31] - The company recorded adjusted diluted EPS (non-GAAP) of $0.91 for Q4 2025, compared to $0.73 in Q4 2024[4] - Return on average assets increased to 1.17% for the three months ended December 31, 2025, compared to 0.90% in the previous quarter[10] - Adjusted return on average assets (non-GAAP) improved to 1.29 from 1.09, indicating a growth of 18.4%[32] Income and Revenue - Net interest income for Q4 2025 was $232.4 million, up $4.2 million from the previous quarter, with a net interest margin of 3.89%, an increase of 4 basis points[8] - Noninterest income for the three months ended December 31, 2025, was $51.125 million, up from $46.026 million in the previous quarter, representing an increase of 2.4%[12] - Total adjusted noninterest income (non-GAAP) rose to $51,125 million compared to $46,867 million, marking an increase of 9.1% year-over-year[33] - Net interest income for the twelve months ending December 31, 2025, was $820.64 million, with a net interest margin of 3.79%, compared to $522.53 million and 3.34% in the previous year[16] Loans and Assets - Loans increased by $21.5 million linked quarter, representing 0.4% annualized net loan growth, while the company sold approximately $117.3 million of non-core loans acquired from the merger[8] - Total loans reached $19.05 billion as of December 31, 2025, an increase from $12.89 billion a year prior, reflecting a growth of 47.5%[17] - Loans held for investment increased to $19,047,039 as of December 31, 2025, compared to $12,885,020 a year earlier, reflecting a growth of approximately 47%[14] - Total assets as of December 31, 2025, reached $26,751,426, an increase from $18,034,868 in December 2024[14] Expenses and Efficiency - Total noninterest expense for the twelve months ending December 31, 2025, was $651.660 million, significantly higher than $461.618 million for the previous year, reflecting a year-over-year increase of 41.2%[12] - The efficiency ratio improved to 60.23% for the three months ended December 31, 2025, down from 67.05% in the previous quarter[10] - Noninterest expense (GAAP) decreased to $170,750 million from $183,830 million, a reduction of 7.3% year-over-year[33] Capital and Equity - Shareholders' equity increased to $3,884,905 as of December 31, 2025, compared to $2,678,318 a year earlier, representing a growth of approximately 45%[14] - The tangible common equity ratio was not specified but is a critical measure for assessing capital adequacy[29] - Shareholders' equity (GAAP) increased to $3,884,905 from $3,825,778, reflecting a growth of 1.9% year-over-year[32] - The total risk-based capital ratio was 14.78% as of December 31, 2025, down from 14.88% in the previous quarter[11] Credit Quality - The provision for credit losses on loans was $5.5 million for Q4 2025, with net loan charge-offs of $9.1 million[8] - Nonperforming loans as a percentage of total loans stood at 0.92% as of December 31, 2025, compared to 0.88% a year earlier[18] - The allowance for credit losses on loans was $293.96 million, representing 1.54% of total loans as of December 31, 2025[18] Strategic Initiatives - The company plans to expand its operations and integrate acquisitions, including its merger with The First, to enhance earnings and achieve cost savings[24] - Renasant Corporation operates 283 banking and financial service offices across the Southeast, with a focus on growth in new markets[22]