Core Viewpoint - Farmers National Banc Corp. (FMNB) demonstrates exceptional capital efficiency with a Return on Invested Capital (ROIC) of 46.24% and a Weighted Average Cost of Capital (WACC) of 13.91%, resulting in a ROIC to WACC ratio of 3.32, significantly outperforming its peers [2][5]. Group 1: Company Overview - Farmers National Banc Corp. operates primarily in Ohio, providing a range of banking services including personal and business banking, wealth management, and mortgage services [1]. - The company competes with regional banks such as First Mid Bancshares, Inc. (FMBH) and The First Bancshares, Inc. (FBMS) [1]. Group 2: Financial Performance - FMNB's ROIC of 46.24% indicates high capital efficiency, significantly above its WACC of 13.91% [2][5]. - In comparison, First Mid Bancshares, Inc. (FMBH) has a ROIC of 4.05% and a WACC of 11.44%, leading to a ROIC to WACC ratio of 0.35, indicating lower capital efficiency [3]. - The First Bancshares, Inc. (FBMS) shows a ROIC of 2.66% and a WACC of 13.74%, resulting in a ROIC to WACC ratio of 0.19, further highlighting FMNB's superior performance [3]. - First Business Financial Services, Inc. (FBIZ) has a ROIC of 7.32% and a WACC of 15.71%, yielding a ROIC to WACC ratio of 0.47, which, while the highest among its peers, still falls short of FMNB's performance [4]. - Civista Bancshares, Inc. (CIVB) and Financial Institutions, Inc. (FISI) exhibit lower ratios, with CIVB at 0.39 and FISI at -0.12, emphasizing FMNB's capital efficiency advantage [4].

Fourth Quarter 2025 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 ...

Core Viewpoint - Renasant Corporation reported improved profitability in Q4 2025, driven by strategic integration efforts and growth in both assets and liabilities, positioning the company for success in 2026 [2][4]. Earnings Summary - Net income for Q4 2025 was $78.9 million, an increase from $59.8 million in Q3 2025 and $44.7 million in Q4 2024 [4][6]. - Basic EPS was $0.84, up from $0.63 in Q3 2025 and $0.70 in Q4 2024; diluted EPS was $0.83, also an increase from $0.63 in Q3 2025 and $0.70 in Q4 2024 [4][6]. - Adjusted diluted EPS (non-GAAP) was $0.91, compared to $0.77 in Q3 2025 and $0.73 in Q4 2024 [4][6]. Balance Sheet Highlights - Total assets increased to $26.75 billion as of December 31, 2025, from $26.73 billion in Q3 2025 [14][15]. - Loans held for investment rose to $19.05 billion, reflecting a slight increase from $19.03 billion in Q3 2025 [14][15]. - Total deposits increased by $48.5 million linked quarter, totaling $21.47 billion [14][15]. Net Interest Income and Margin - Net interest income for Q4 2025 was $232.4 million, up $4.2 million from Q3 2025 [4][17]. - The net interest margin was 3.89%, an increase of 4 basis points from the previous quarter [4][17]. - The cost of total deposits decreased to 1.97%, down 17 basis points linked quarter [4][17]. Noninterest Income and Expense - Noninterest income increased by $5.1 million linked quarter to $51.1 million, driven by various service charges and fees [4][12]. - Noninterest expense decreased by $13.1 million linked quarter to $170.8 million, including a reduction in merger-related expenses [4][12]. Credit Quality - The provision for credit losses on loans was $5.5 million, a decrease from $9.7 million in Q3 2025 [7]. - The allowance for credit losses on loans to total loans ratio was 1.54%, down 2 basis points from the previous quarter [7]. - Nonperforming loans to total loans increased to 0.92% from 0.90% in Q3 2025 [7]. Capital and Stock Repurchase Program - The company has a $150 million stock repurchase program, with $13.2 million of common stock repurchased at an average price of $34.29 during Q4 2025 [4][10]. - Book value per share increased by 2.0% to $41.05 linked quarter [10]. Performance Ratios - Return on average assets was 1.17%, up from 0.90% in Q3 2025 [9]. - Adjusted return on average equity (non-GAAP) was 8.95%, compared to 7.62% in Q3 2025 [9]. - Efficiency ratio improved to 60.23% from 67.05% in Q3 2025 [9].

Financial Performance - Net income was $59.8 million with diluted EPS of $0.63 and adjusted diluted EPS of $0.77[13] - Net interest margin was 3.85%, while adjusted net interest margin was 3.62%, up 4 basis points linked quarter[13] - The company redeemed $60.0 million subordinated notes acquired from The First Bancshares, Inc on October 1, 2025[13] - The Board of Directors approved a $150.0 million stock repurchase program, replacing the previous $100.0 million program[36] Balance Sheet - Assets totaled $26.7 billion[6] - Loans increased by $462.1 million, representing a 9.9% annualized increase, reaching $19.0 billion[6, 13] - Deposits decreased by $158.1 million, primarily due to a $169.6 million decrease in public funds, totaling $21.4 billion[6, 13] - Noninterest-bearing deposits decreased by $117.7 million and represented 24.5% of total deposits[13] - Equity was $3.8 billion[6] Asset Quality - Nonperforming loans represented 0.90% of total loans, an increase of 14 basis points linked quarter[13] - The ratio of allowance for credit losses on loans to total loans decreased 1 basis point to 1.56%[13] Loan and Deposit Composition - Loan distribution by state: Georgia accounted for 27%, Mississippi 25%, Florida 22%, Tennessee 10%, and others 16%[7] - Deposit distribution by state: Mississippi accounted for 39%, Georgia 28%, Alabama 14%, Florida 9%, Tennessee 7%, and others 3%[7]

Financial Performance - Net income was $1 million with diluted EPS of $001, impacted by merger expenses of $205 million and Day 1 acquisition provision for credit losses of $666 million; adjusted diluted EPS was $069[11] - Net interest margin was 385%, up 40 basis points linked quarter; adjusted net interest margin was 358%, up 16 basis points linked quarter[11] - The company generated net organic loan growth of $3116 million for the quarter, or 69% annualized, and net organic deposit growth of $3613 million, or 68% annualized[11] Balance Sheet - Assets reached $266 billion[6] - Loans totaled $186 billion[6] - Deposits amounted to $216 billion[6] - Equity stood at $38 billion[6] Capital and Liquidity - The company has a $100 million stock repurchase program, with no buyback activity in the second quarter of 2025[30] - Available liquidity sources totaled $136 billion, while uninsured and uncollateralized deposits were $63 billion[64] Asset Quality - The ratio of allowance for credit losses on loans to total loans increased 1 basis point to 157%[11] - Nonperforming loans to total loans held constant at 076%[11] Merger and Acquisition - On April 1, 2025, the company completed its merger with The First Bancshares, Inc, which had $79 billion in assets, $52 billion in loans, and $64 billion in deposits[11] - The company acquired $15 billion in securities from The First and sold $6865 million of The First securities and reinvested at higher rates[71] Noninterest Income and Expense - Noninterest income increased $119 million linked quarter, primarily due to the merger with The First and a gain on sale of MSRs of $15 million[57] - Noninterest expense increased $693 million linked quarter, primarily related to the merger with The First; merger and conversion expenses increased $197 million linked quarter[61]

Core Viewpoint - Renasant Corporation reported its earnings results for the second quarter of 2025, highlighting significant progress in the merger with The First Bancshares, Inc. and its impact on financial performance. Earnings Summary - Net income for Q2 2025 was $1.0 million, significantly impacted by merger-related expenses of $20.5 million and a Day 1 acquisition provision for credit losses of $66.6 million [7][11] - Basic and diluted EPS were both $0.01, while adjusted diluted EPS (non-GAAP) was $0.69 [7][10] - The company generated net organic loan growth of $311.6 million for the quarter, representing a 6.9% annualized growth rate [7] Merger Details - The merger with The First Bancshares, Inc. was completed on April 1, 2025, with The First operating 116 locations and having $7.9 billion in assets [3] - The merger contributed to a significant increase in net interest income, which rose to $222.7 million, up $85.3 million from the previous quarter [7] Balance Sheet Highlights - Total assets reached $26.6 billion as of June 30, 2025, up from $18.3 billion in the previous quarter [18] - Total deposits increased to $21.6 billion, with noninterest-bearing deposits rising to $5.4 billion, representing 24.8% of total deposits [18][19] Credit Quality - The provision for credit losses was $81.3 million, including a $66.6 million Day 1 acquisition provision [11] - The allowance for credit losses on loans to total loans ratio was 1.57% as of June 30, 2025 [11] Noninterest Income and Expense - Noninterest income for Q2 2025 was $48.3 million, an increase of $11.9 million linked quarter, primarily due to the merger [7][15] - Noninterest expense rose to $183.2 million, primarily driven by merger-related costs [7][15] Performance Ratios - Return on average assets was 0.02% for Q2 2025, while adjusted return on average assets (non-GAAP) was 1.01% [13] - The efficiency ratio (fully taxable equivalent) was 67.59% for the quarter [13] Capital and Stock Repurchase Program - The company has a $100.0 million stock repurchase program in effect through October 2025 [7]

Financial Performance - Renasant Corporation reported net income of $41.5 million with diluted EPS of $0.65 and adjusted diluted EPS of $0.66 for the first quarter of 2025[12] - Net interest margin increased by 9 basis points linked quarter to 3.45%[12] - Noninterest income increased by $2.2 million on a linked quarter basis[65] Balance Sheet - Total assets reached $18.3 billion[6] - Loans totaled $13.1 billion[6] and increased by $170.6 million, or 5.4% annualized[12] - Deposits amounted to $14.8 billion[6] and increased by $199.5 million, with noninterest bearing deposits increasing $137.4 million, linked quarter[12] - Equity stood at $2.7 billion[6] Asset Quality - The ratio of allowance for credit losses on loans to total loans decreased 1 basis point to 1.56% linked quarter[12] - Nonperforming loans represented 0.76% of total loans, a decrease of 12 basis points linked quarter[12] Capital and Liquidity - The company has a $100 million stock repurchase program, but there was no buyback activity during the first quarter of 2025[38] - Available liquidity sources totaled $9.6 billion[72] - Uninsured and uncollateralized deposits were $4.6 billion, representing 31.1% of total deposits[73] Loan and Deposit Composition - Loans by state: Mississippi 20%, Alabama 28%, Florida 7%, Georgia 29%, Tennessee 15%, Other 1%[7] - Deposits by state: Mississippi 42%, Alabama 15%, Florida 3%, Georgia 30%, Tennessee 10%[7] - Noninterest-bearing deposits represented 24% of total deposits[12]

Core Viewpoint - Renasant Corporation reported solid profitability and growth in loans and deposits for Q1 2025, despite a slight decrease in net income compared to the previous quarter. The completion of the merger with The First Bancshares is expected to enhance profit performance and market presence [1][2]. Earnings - Net income for Q1 2025 was $41.5 million, down from $44.7 million in Q4 2024 but up from $39.4 million in Q1 2024. Basic and diluted EPS were both $0.65, compared to $0.70 in the previous quarter and the same quarter last year. Adjusted diluted EPS (non-GAAP) was $0.66, down from $0.73 in Q4 2024 but unchanged from Q1 2024 [1][6][10]. Acquisition - The merger with The First Bancshares was completed on April 1, 2025. The First operated 116 locations and had approximately $8.0 billion in assets, including $5.4 billion in loans and $6.5 billion in deposits at the time of acquisition [2]. Balance Sheet - Total assets as of March 31, 2025, were $18.27 billion, an increase from $18.03 billion at the end of 2024. Loans held for investment increased to $13.06 billion, up from $12.89 billion in the previous quarter [17][21]. Capital and Stock Repurchase Program - Book value per share increased by 1.6% to $42.79, while tangible book value per share (non-GAAP) rose by 2.7% to $27.07. The company has a $100 million stock repurchase program in effect through October 2025, with no buyback activity reported in Q1 2025 [5][7][12]. Net Interest Income and Margin - Net interest income for Q1 2025 was $137.4 million, up $1.9 million from the previous quarter. The net interest margin improved to 3.45%, an increase of 9 basis points linked quarter [6][18]. Noninterest Income and Expense - Noninterest income increased by $2.2 million linked quarter to $36.4 million, driven by higher mortgage banking income. Noninterest expense decreased by $0.9 million to $113.9 million, with a notable reduction in merger and conversion expenses [6][14]. Credit Quality - The provision for credit losses was $4.8 million, up $2.6 million linked quarter. The allowance for credit losses on loans to total loans ratio was 1.56%, down one basis point from the previous quarter. Nonperforming loans to total loans decreased to 0.76% from 0.88% [9][22].

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 ...

Core Viewpoint - Renasant Corporation and The First Bancshares, Inc. have received all necessary regulatory approvals to complete their merger, which is expected to close on April 1, 2025, creating a financial services institution with approximately $26 billion in assets and over 250 locations across the Southeast [1][2]. Company Overview - Renasant Corporation is the parent of Renasant Bank, a financial services institution with approximately $18 billion in assets and 186 locations throughout the Southeast [3]. - The First Bancshares, Inc. is headquartered in Hattiesburg, Mississippi, and operates in multiple states including Mississippi, Louisiana, Alabama, Florida, and Georgia [4]. Merger Details - The merger will involve The First being merged into Renasant, along with The First's wholly owned subsidiary, The First Bank, merging into Renasant Bank [1]. - The merger is anticipated to create a stronger financial services entity with enhanced capabilities in factoring and asset-based lending on a nationwide basis [2].