Renasant (US:RNST) Globenewswireยท2025-10-28 20:30Core Viewpoint - Renasant Corporation reported strong financial performance in Q3 2025, with notable loan growth and profit improvement, while successfully integrating with The First Bancshares, Inc. [1] Earnings Summary - Net income for Q3 2025 was $59.8 million, a decrease from $72.5 million in Q3 2024 [4] - Basic and diluted earnings per share (EPS) were $0.63, compared to $1.18 in Q3 2024 [4][10] - Adjusted diluted EPS (non-GAAP) was $0.77, up from $0.70 in Q3 2024 [4][10] Balance Sheet Highlights - Total assets increased to $26.73 billion as of September 30, 2025, from $26.62 billion in the previous quarter [17] - Loans held for investment rose to $19.03 billion, reflecting a $462.1 million increase linked quarter, representing a 9.9% annualized growth rate [4][17] - Total deposits decreased by $158.1 million linked quarter, primarily due to public fund seasonality [4][17] Income and Expenses - Net interest income for Q3 2025 was $228.1 million, an increase of $5.4 million from the previous quarter [4] - Noninterest income totaled $46.0 million, down from $48.3 million in the previous quarter [4][14] - Noninterest expense was $183.8 million, slightly up from $183.2 million in the previous quarter [4][14] Credit Quality - The provision for credit losses was $10.5 million for Q3 2025, a decrease from $81.3 million in Q2 2025 [9] - The ratio of allowance for credit losses on loans to total loans was 1.56% as of September 30, 2025 [9] - Nonperforming loans to total loans increased to 0.90% from 0.76% in the previous quarter [9] Capital and Stock Repurchase Program - The Board of Directors approved a $150 million stock repurchase program effective October 28, 2025, replacing the previous $100 million program [5] - Book value per share increased to $40.26, up 1.2% linked quarter [4][13] Performance Ratios - Return on average assets was 0.90% for Q3 2025, compared to 1.63% in Q3 2024 [11] - Return on average equity was 6.25%, down from 11.29% in the same quarter last year [11]