Renasant (US:RNST)2025-04-23 17:34Financial 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]