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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

January 28, 2025
Date of report (Date of earliest event reported)

RENASANT CORPORATION
(Exact name of registrant as specified in its charter)
Mississippi
001-13253
64-0676974
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)

209 Troy Street, Tupelo, Mississippi 38804-4827
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (662) 680-1001
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $5.00 par value per shareRNSTThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02. Results of Operations and Financial Condition.
 
On January 28, 2025, Renasant Corporation (“the Company”) issued a press release announcing earnings for the fourth quarter of 2024. The press release is furnished as Exhibit 99.1 to this Form 8-K.

Item 7.01. Regulation FD Disclosure

On January 28, 2025, the Company also made available presentation materials (the “Presentation”) prepared for use with its earnings conference call on January 29, 2025. The Presentation is attached hereto and incorporated herein as Exhibit 99.2.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.2, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This press release may contain, or incorporate by reference, statements about Renasant Corporation 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,” “plans,” “potential,” “focus,” “possible,” “may increase,” “may fluctuate,” “will likely result,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would” and “could,” are generally forward-looking in nature and not historical facts. Forward-looking statements include information about the Company’s future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. The Company’s management believes these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Company’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ from those indicated or implied in the forward-looking statements, and such differences may be material. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and, accordingly, investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.

Important factors currently known to management that could cause the Company’s actual results to differ materially from those in forward-looking statements include the following: (i) the Company’s ability to efficiently integrate acquisitions into its operations (including its recently-announced proposed merger with The First Bancshares, Inc.), retain the customers of these businesses, grow the acquired operations and realize the cost savings expected from an acquisition to the extent and in the timeframe anticipated by management (including the possibility that such cost savings will not be realized when expected, or at all, as a result of the impact of, or challenges arising from, the integration of the acquired assets and assumed liabilities into the Company, potential adverse reactions or changes to business or employee relationships, or as a result of other unexpected factors or events); (ii) potential exposure to unknown or contingent risks and liabilities the Company has acquired, or may acquire, or target for acquisition, including in connection with the proposed merger with The First Bancshares, Inc.; (iii) the effect of economic conditions and interest rates on a national, regional or international basis; (iv) timing and success of the implementation of changes in operations to achieve enhanced earnings or effect cost savings; (v) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vi) the financial resources of, and products available from, competitors; (vii) changes in laws and regulations as well as changes in accounting standards; (viii) changes in policy by regulatory agencies or increased scrutiny by, and/or additional regulatory requirements of, regulatory agencies as a result of the Company’s proposed merger with The First Bancshares, Inc.; (ix) changes in the securities


and foreign exchange markets; (x) the Company’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xi) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of the Company’s investment securities portfolio; (xii) an insufficient allowance for credit losses as a result of inaccurate assumptions; (xiii) changes in the sources and costs of the capital the Company uses to make loans and otherwise fund the Company’s operations, due to deposit outflows, changes in the mix of deposits and the cost and availability of borrowings; (xiv) general economic, market or business conditions, including the impact of inflation; (xv) changes in demand for loan and deposit products and other financial services; (xvi) concentration of deposit and credit exposure; (xvii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xviii) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses; (xix) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xx) geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact business and economic conditions in the United States and abroad; (xxi) the impact, extent and timing of technological changes; and (xxii) other circumstances, many of which are beyond management’s control.

Management believes that the assumptions underlying Company's forward-looking statements are reasonable, but any of the assumptions could prove to be inaccurate. Investors are urged to carefully consider the risks described in the Company’s filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at www.renasant.com and the SEC’s website at www.sec.gov.

The Company undertakes no obligation, and specifically disclaims any obligation, to update or revise forward-looking statements, whether as a result of new information or to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by federal securities laws.

Item 9.01.    Financial Statements and Exhibits.
    (d)    The following exhibits are furnished herewith:
    Exhibit No.    Description
104    The cover page of Renasant Corporation's Form 8-K is formatted in Inline XBRL.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RENASANT CORPORATION
Date: January 28, 2025
By:
/s/ C. Mitchell Waycaster
C. Mitchell Waycaster
Chief Executive Officer





renasantcorporationlogo-fu.jpg
Contacts:For Media:For Financials:
John S. OxfordJames C. Mabry IV
Senior Vice PresidentExecutive Vice President
Chief Marketing OfficerChief Financial Officer
(662) 680-1219(662) 680-1281

RENASANT CORPORATION ANNOUNCES
EARNINGS FOR THE FOURTH QUARTER OF 2024

TUPELO, MISSISSIPPI (January 28, 2025) - Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the fourth quarter of 2024.

(Dollars in thousands, except earnings per share)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Net income and earnings per share:
Net income$44,747$72,455$28,124$195,457$144,678
After-tax gain on sale of insurance agency— 38,951 — 38,951 — 
After-tax loss on sale of securities (including impairments)— — (17,859)— (17,859)
Basic EPS0.701.180.503.292.58
Diluted EPS0.701.180.503.272.56
Adjusted diluted EPS (Non-GAAP)(1)
0.730.700.762.763.15
Impact to diluted EPS from after-tax gain on sale of insurance agency— 0.63 — 0.65 — 
Impact to diluted EPS from after-tax loss on sale of securities (including impairments)— — — — (0.31)

“The fourth quarter results marked the end to a successful year for Renasant. We announced a transformative merger with The First in July and, in the midst of diligently planning for a successful combination, our team maintained its focus on generating organic growth, disciplined pricing on both sides of the balance sheet and steady credit performance,” remarked C. Mitchell Waycaster, Chief Executive Officer of the Company.

Quarterly Highlights

Earnings
•Net income for the fourth quarter of 2024 was $44.7 million; diluted EPS and adjusted diluted EPS (non-GAAP)(1) were $0.70 and $0.73, respectively
•Net interest income (fully tax equivalent) for the fourth quarter of 2024 was $135.5 million, up $1.9 million on a linked quarter basis
•For the fourth quarter of 2024, net interest margin was 3.36%, which was unchanged on a linked quarter basis
•Cost of total deposits was 2.35% for the fourth quarter of 2024, down 16 basis points on a linked quarter basis
1


•Noninterest income decreased $55.1 million on a linked quarter basis. The Company recognized a $53.3 million pre-tax gain on the insurance agency sale during the third quarter. Excluding the impact of this gain, noninterest income decreased $1.7 million from the third quarter
•Mortgage banking income decreased $1.6 million on a linked quarter basis. The mortgage division generated $482.3 million in interest rate lock volume in the fourth quarter of 2024, down $61.3 million on a linked quarter basis. Gain on sale margin was 2.01% for the fourth quarter of 2024, up 45 basis points on a linked quarter basis
•Noninterest expense decreased $7.2 million on a linked quarter basis. Merger and conversion expenses were $2.1 million for the fourth quarter of 2024, down from $11.3 million for the prior quarter

Balance Sheet
•Loans increased $257.4 million on a linked quarter basis, representing 8.1% annualized net loan growth
•Securities increased $41.8 million on a linked quarter basis. The Company purchased $113.6 million in securities during the fourth quarter, which was offset by cash flows related to principal payments, calls and maturities of $48.5 million and a negative fair market value adjustment in the Company’s available-for-sale portfolio of $24.3 million
•Deposits at December 31, 2024 increased $62.9 million on a linked quarter basis. Brokered deposits outstanding at September 30, 2024 of $126.8 million matured or were called during the quarter. There were no outstanding brokered deposits at December 31, 2024. Noninterest bearing deposits decreased $125.8 million on a linked quarter basis and represented 23.4% of total deposits at December 31, 2024

Capital and Stock Repurchase Program
•Book value per share and tangible book value per share (non-GAAP)(1) increased 0.7% and 1.3%, respectively, on a linked quarter basis
•The Company has a $100.0 million stock repurchase program in effect through October 2025 under which the Company is authorized to repurchase outstanding shares of its common stock either in open market purchases or privately-negotiated transactions. There was no buyback activity during the fourth quarter of 2024

Credit Quality
•The Company recorded a provision for credit losses of $2.6 million for the fourth quarter of 2024, compared to $0.9 million for the third quarter of 2024
•The ratio of the allowance for credit losses on loans to total loans was 1.57% at December 31, 2024, down two basis points on a linked quarter basis
•The coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 178.11% at December 31, 2024, compared to 168.07% at September 30, 2024
•Net loan charge-offs for the fourth quarter of 2024 were $1.7 million, or 0.05% of average loans on an annualized basis
•Nonperforming loans to total loans decreased to 0.88% at December 31, 2024 compared to 0.94% at September 30, 2024, and criticized loans (which include classified and Special Mention loans) to total loans decreased to 2.89% at December 31, 2024, compared to 3.02% at September 30, 2024




(1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures.
2

Income Statement
(Dollars in thousands, except per share data)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Interest income
Loans held for investment$199,240 $202,655 $198,397 $192,390 $188,535 $792,682 $704,649 
Loans held for sale3,564 4,212 3,530 2,308 3,329 13,614 11,807 
Securities10,510 10,304 10,410 10,700 10,728 41,924 50,488 
Other12,030 11,872 7,874 7,781 7,839 39,557 30,375 
Total interest income225,344 229,043 220,211 213,179 210,431 887,777 797,319 
Interest expense
Deposits85,571 90,787 87,621 82,613 77,168 346,592 232,331 
Borrowings6,891 7,258 7,564 7,276 7,310 28,989 45,661 
Total interest expense92,462 98,045 95,185 89,889 84,478 375,581 277,992 
Net interest income132,882 130,998 125,026 123,290 125,953 512,196 519,327 
Provision for credit losses
Provision for loan losses3,100 1,210 4,300 2,638 2,518 11,248 18,793 
Recovery of unfunded commitments(500)(275)(1,000)(200)— (1,975)(3,200)
Total provision for credit losses2,600 935 3,300 2,438 2,518 9,273 15,593 
Net interest income after provision for credit losses130,282 130,063 121,726 120,852 123,435 502,923 503,734 
Noninterest income34,218 89,299 38,762 41,381 20,356 203,660 113,075 
Noninterest expense114,747 121,983 111,976 112,912 111,880 461,618 439,622 
Income before income taxes49,753 97,379 48,512 49,321 31,911 244,965 177,187 
Income taxes5,006 24,924 9,666 9,912 3,787 49,508 32,509 
Net income$44,747 $72,455 $38,846 $39,409 $28,124 $195,457 $144,678 
Adjusted net income (non-GAAP)(1)
$46,458 $42,960 $38,846 $36,572 $42,887 $165,066 $177,657 
Adjusted pre-provision net revenue (“PPNR”) (non-GAAP)(1)
$54,177 $56,238 $51,812 $48,231 $52,614 $210,458 $233,403 
Basic earnings per share$0.70 $1.18 $0.69 $0.70 $0.50 $3.29 $2.58 
Diluted earnings per share0.70 1.18 0.69 0.70 0.50 3.27 2.56 
Adjusted diluted earnings per share (non-GAAP)(1)
0.73 0.70 0.69 0.65 0.76 2.76 3.15 
Average basic shares outstanding63,565,437 61,217,094 56,342,909 56,208,348 56,141,628 59,350,157 56,099,689 
Average diluted shares outstanding64,056,303 61,632,448 56,684,626 56,531,078 56,611,217 59,748,790 56,448,163 
Cash dividends per common share$0.22 $0.22 $0.22 $0.22 $0.22 $0.88 $0.88 
(1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures.
3

Performance Ratios
Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Return on average assets0.99 %1.63 %0.90 %0.92 %0.65 %1.11 %0.84 %
Adjusted return on average assets (non-GAAP)(1)
1.03 0.97 0.90 0.86 0.99 0.94 1.03 
Return on average tangible assets (non-GAAP)(1)
1.07 1.75 0.98 1.00 0.71 1.20 0.92 
Adjusted return on average tangible assets (non-GAAP)(1)
1.11 1.05 0.98 0.93 1.08 1.02 1.12 
Return on average equity6.70 11.29 6.68 6.85 4.93 7.92 6.50 
Adjusted return on average equity (non-GAAP)(1)
6.96 6.69 6.68 6.36 7.53 6.69 7.99 
Return on average tangible equity (non-GAAP)(1)
10.97 18.83 12.04 12.45 9.26 13.63 12.29 
Adjusted return on average tangible equity (non-GAAP)(1)
11.38 11.26 12.04 11.58 13.94 11.55 15.02 
Efficiency ratio (fully taxable equivalent)67.61 54.73 67.31 67.52 75.11 63.57 68.33 
Adjusted efficiency ratio (non-GAAP)(1)
65.82 64.62 66.60 68.23 66.18 66.30 63.48 
Dividend payout ratio31.43 18.64 31.88 31.43 44.00 26.75 34.11 

Capital and Balance Sheet Ratios
As of
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023
Shares outstanding63,565,690 63,564,028 56,367,924 56,304,860 56,142,207 
Market value per share$35.75 $32.50 $30.54 $31.32 $33.68 
Book value per share42.13 41.82 41.77 41.25 40.92 
Tangible book value per share (non-GAAP)(1)
26.36 26.02 23.89 23.32 22.92 
Shareholders’ equity to assets14.85 %14.80 %13.45 %13.39 %13.23 %
Tangible common equity ratio (non-GAAP)(1)
9.84 9.76 8.16 8.04 7.87 
Leverage ratio11.34 11.32 9.81 9.75 9.62 
Common equity tier 1 capital ratio12.72 12.88 10.75 10.59 10.52 
Tier 1 risk-based capital ratio13.49 13.67 11.53 11.37 11.30 
Total risk-based capital ratio17.07 17.32 15.15 15.00 14.93 

(1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures.
4

Noninterest Income and Noninterest Expense
(Dollars in thousands)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Noninterest income
Service charges on deposit accounts$10,549 $10,438 $10,286 $10,506 $10,603 $41,779 $39,199 
Fees and commissions4,181 4,116 3,944 3,949 4,130 16,190 17,901 
Insurance commissions— — 2,758 2,716 2,583 5,474 11,102 
Wealth management revenue6,371 5,835 5,684 5,669 5,668 23,559 22,132 
Mortgage banking income6,861 8,447 9,698 11,370 6,592 36,376 32,413 
Gain on sale of insurance agency— 53,349 — — — 53,349 — 
Net losses on sales of securities (including impairments)— — — — (19,352)— (41,790)
Gain on extinguishment of debt— — — 56 620 56 620 
BOLI income3,317 2,858 2,701 2,691 2,589 11,567 10,463 
Other2,939 4,256 3,691 4,424 6,923 15,310 21,035 
Total noninterest income$34,218 $89,299 $38,762 $41,381 $20,356 $203,660 $113,075 
Noninterest expense
Salaries and employee benefits$70,260 $71,307 $70,731 $71,470 $71,841 $283,768 $281,768 
Data processing4,145 4,133 3,945 3,807 3,971 16,030 15,195 
Net occupancy and equipment11,312 11,415 11,844 11,389 11,653 45,960 46,471 
Other real estate owned590 56 105 107 306 858 267 
Professional fees2,686 3,189 3,195 3,348 2,854 12,418 13,671 
Advertising and public relations3,840 3,677 3,807 4,886 3,084 16,210 14,726 
Intangible amortization1,133 1,160 1,186 1,212 1,274 4,691 5,380 
Communications2,067 2,176 2,112 2,024 2,026 8,379 8,238 
Merger and conversion related expenses2,076 11,273 — — — 13,349 — 
Other16,638 13,597 15,051 14,669 14,871 59,955 53,906 
Total noninterest expense$114,747 $121,983 $111,976 $112,912 $111,880 $461,618 $439,622 

Mortgage Banking Income
(Dollars in thousands)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Gain on sales of loans, net$2,379 $4,499 $5,199 $4,535 $1,860 $16,612 $14,573 
Fees, net2,850 2,646 2,866 1,854 2,010 10,216 9,051 
Mortgage servicing income, net1,632 1,302 1,633 4,981 2,722 9,548 8,789 
Total mortgage banking income$6,861 $8,447 $9,698 $11,370 $6,592 $36,376 $32,413 
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Balance Sheet
(Dollars in thousands)As of
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023
Assets
Cash and cash equivalents$1,092,032 $1,275,620 $851,906 $844,400 $801,351 
Securities held to maturity, at amortized cost1,126,112 1,150,531 1,174,663 1,199,111 1,221,464 
Securities available for sale, at fair value831,013 764,844 749,685 764,486 923,279 
Loans held for sale, at fair value246,171 291,735 266,406 191,440 179,756 
Loans held for investment12,885,020 12,627,648 12,604,755 12,500,525 12,351,230 
Allowance for credit losses on loans(201,756)(200,378)(199,871)(201,052)(198,578)
Loans, net12,683,264 12,427,270 12,404,884 12,299,473 12,152,652 
Premises and equipment, net279,796 280,550 280,966 282,193 283,195 
Other real estate owned8,673 9,136 7,366 9,142 9,622 
Goodwill and other intangibles1,003,003 1,004,136 1,008,062 1,009,248 1,010,460 
Bank-owned life insurance391,810 389,138 387,791 385,186 382,584 
Mortgage servicing rights72,991 71,990 72,092 71,596 91,688 
Other assets300,003 293,890 306,570 289,466 304,484 
Total assets$18,034,868 $17,958,840 $17,510,391 $17,345,741 $17,360,535 
Liabilities and Shareholders’ Equity
Liabilities
Deposits:
Noninterest-bearing$3,403,981 $3,529,801 $3,539,453 $3,516,164 $3,583,675 
Interest-bearing11,168,631 10,979,950 10,715,760 10,720,999 10,493,110 
Total deposits14,572,612 14,509,751 14,255,213 14,237,163 14,076,785 
Short-term borrowings108,018 108,732 232,741 108,121 307,577 
Long-term debt430,614 433,177 428,677 428,047 429,400 
Other liabilities245,306 249,102 239,059 250,060 249,390 
Total liabilities15,356,550 15,300,762 15,155,690 15,023,391 15,063,152 
Shareholders’ equity:
Common stock332,421 332,421 296,483 296,483 296,483 
Treasury stock(97,196)(97,251)(97,534)(99,683)(105,249)
Additional paid-in capital1,491,847 1,488,678 1,304,782 1,303,613 1,308,281 
Retained earnings1,093,854 1,063,324 1,005,086 978,880 952,124 
Accumulated other comprehensive loss(142,608)(129,094)(154,116)(156,943)(154,256)
Total shareholders’ equity
2,678,318 2,658,078 2,354,701 2,322,350 2,297,383 
Total liabilities and shareholders’ equity
$18,034,868 $17,958,840 $17,510,391 $17,345,741 $17,360,535 


6

Net Interest Income and Net Interest Margin

(Dollars in thousands)Three Months Ended
December 31, 2024September 30, 2024December 31, 2023
Average
Balance		Interest
Income/
Expense		Yield/  
 Rate		Average
Balance		Interest
Income/
Expense		Yield/  
 Rate		Average
Balance		Interest
Income/
Expense		Yield/  
 Rate
Interest-earning assets:
Loans held for investment$12,746,941 $201,562 6.29 %$12,584,104 $204,935 6.47 %$12,249,429 $190,857 6.18 %
Loans held for sale250,812 3,564 5.69 %272,110 4,212 6.19 %199,510 3,329 6.68 %
Taxable securities1,784,167 9,408 2.11 %1,794,421 9,212 2.05 %2,050,175 9,490 1.85 %
Tax-exempt securities(1)
261,679 1,400 2.14 %262,621 1,390 2.12 %282,698 1,558 2.20 %
Total securities2,045,846 10,808 2.11 %2,057,042 10,602 2.06 %2,332,873 11,048 1.89 %
Interest-bearing balances with banks1,025,294 12,030 4.67 %894,313 11,872 5.28 %552,301 7,839 5.63 %
Total interest-earning assets16,068,893 227,964 5.65 %15,807,569 231,621 5.82 %15,334,113 213,073 5.52 %
Cash and due from banks188,493 189,425 180,609 
Intangible assets1,003,551 1,004,701 1,011,130 
Other assets682,211 679,969 669,988 
Total assets$17,943,148 $17,681,664 $17,195,840 
Interest-bearing liabilities:
Interest-bearing demand(2)
$7,629,685 $57,605 3.00 %$7,333,508 $60,326 3.26 %$6,721,053 $47,783 2.82 %
Savings deposits804,132 706 0.35 %815,545 729 0.36 %888,692 765 0.34 %
Brokered deposits60,298 1,013 6.68 %150,991 1,998 5.25 %632,704 8,594 5.39 %
Time deposits2,512,097 26,247 4.16 %2,546,860 27,734 4.33 %2,185,737 20,026 3.63 %
Total interest-bearing deposits11,006,212 85,571 3.09 %10,846,904 90,787 3.32 %10,428,186 77,168 2.94 %
Borrowed funds556,966 6,891 4.94 %562,146 7,258 5.14 %564,715 7,310 5.16 %
Total interest-bearing liabilities11,563,178 92,462 3.18 %11,409,050 98,045 3.41 %10,992,901 84,478 3.05 %
Noninterest-bearing deposits3,502,931 3,509,266 3,703,050 
Other liabilities220,154 209,762 238,864 
Shareholders’ equity2,656,885 2,553,586 2,261,025 
Total liabilities and shareholders’ equity$17,943,148 $17,681,664 $17,195,840 
Net interest income/ net interest margin$135,502 3.36 %$133,576 3.36 %$128,595 3.33 %
Cost of funding2.44 %2.61 %2.28 %
Cost of total deposits2.35 %2.51 %2.17 %
(1) U.S. Government and some U.S. Government Agency securities are tax-exempt in the states in which the Company operates.
(2) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.


7

Net Interest Income and Net Interest Margin, continued
(Dollars in thousands)Twelve Months Ended
December 31, 2024December 31, 2023
Average
Balance		Interest
Income/
Expense		Yield/  
 Rate		Average
Balance		Interest
Income/
Expense		Yield/  
 Rate
Interest-earning assets:
Loans held for investment$12,579,143 $801,807 6.37%$11,963,141 $713,897 5.97%
Loans held for sale224,734 13,614 6.06%181,253 11,807 6.51%
Taxable securities(1)
1,825,404 37,383 2.05%2,313,874 44,619 1.93%
Tax-exempt securities264,615 5,746 2.17%332,749 7,634 2.29%
Total securities2,090,019 43,129 2.06%2,646,623 52,253 1.97%
Interest-bearing balances with banks772,274 39,557 5.12%568,155 30,375 5.35%
Total interest-earning assets15,666,170 898,107 5.73%15,359,172 808,332 5.26%
Cash and due from banks188,487 187,127 
Intangible assets1,006,665 1,012,239 
Other assets691,373 673,345 
Total assets$17,552,695 $17,231,883 
Interest-bearing liabilities:
Interest-bearing demand(2)
$7,254,646 $226,563 3.12%$6,357,753 $138,730 2.18%
Savings deposits829,818 2,894 0.35%971,522 3,197 0.33%
Brokered deposits237,164 12,942 5.46%697,699 36,039 5.17%
Time deposits2,466,906 104,193 4.22%1,874,224 54,365 2.90%
Total interest-bearing deposits10,788,534 346,592 3.21%9,901,198 232,331 2.35%
Borrowed funds566,332 28,989 5.12%910,080 45,661 5.02%
Total interest-bearing liabilities11,354,866 375,581 3.31%10,811,278 277,992 2.57%
Noninterest-bearing deposits3,509,958 3,979,951 
Other liabilities221,487 216,148 
Shareholders’ equity2,466,384 2,224,506 
Total liabilities and shareholders’ equity$17,552,695 $17,231,883 
Net interest income/ net interest margin$522,526 3.34%$530,340 3.45%
Cost of funding2.53%1.88%
Cost of total deposits2.42%1.67%
(1) U.S. Government and some U.S. Government Agency securities are tax-exempt in the states in which the Company operates.
(2) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.

8


Supplemental Margin Information
(Dollars in thousands)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Earning asset mix:
Loans held for investment
79.33 %79.61 %79.88 %80.29 %77.89 %
Loans held for sale1.56 1.72 1.30 1.43 1.18 
Securities12.73 13.01 15.21 13.34 17.23 
Interest-bearing balances with banks6.38 5.66 3.61 4.94 3.70 
Total100.00 %100.00 %100.00 %100.00 %100.00 %
Funding sources mix:
Noninterest-bearing demand23.25 %23.52 %25.20 %23.61 %26.91 %
Interest-bearing demand(1)
50.64 49.16 45.73 48.80 42.98 
Savings 5.34 5.47 6.05 5.58 6.57 
Brokered deposits0.40 1.01 4.31 1.60 4.72 
Time deposits16.67 17.07 14.87 16.60 12.67 
Borrowed funds3.70 3.77 3.84 3.81 6.15 
Total100.00 %100.00 %100.00 %100.00 %100.00 %
Net interest income collected on problem loans$151 $642 $283 $770 $219 
Total accretion on purchased loans616 1,089 1,117 3,402 4,166 
Total impact on net interest income$767 $1,731 $1,400 $4,172 $4,385 
Impact on net interest margin0.02 %0.04 %0.04 %0.03 %0.03 %
Impact on loan yield0.02 0.05 0.05 0.03 %0.04 %
(1) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.
9

Loan Portfolio
(Dollars in thousands)As of
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023
Loan Portfolio:
Commercial, financial, agricultural$1,885,817 $1,804,961 $1,847,762 $1,869,408 $1,871,821 
Lease financing90,591 98,159 102,996 107,474 116,020 
Real estate - construction1,093,653 1,198,838 1,355,425 1,243,535 1,333,397 
Real estate - 1-4 family mortgages3,488,877 3,440,038 3,435,818 3,429,286 3,439,919 
Real estate - commercial mortgages6,236,068 5,995,152 5,766,478 5,753,230 5,486,550 
Installment loans to individuals90,014 90,500 96,276 97,592 103,523 
Total loans$12,885,020 $12,627,648 $12,604,755 $12,500,525 $12,351,230 


Credit Quality and Allowance for Credit Losses on Loans
(Dollars in thousands)As of
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023
Nonperforming Assets:
Nonaccruing loans$110,811 $113,872 $97,795 $73,774 $68,816 
Loans 90 days or more past due2,464 5,351 240 451 554 
Total nonperforming loans113,275 119,223 98,035 74,225 69,370 
Other real estate owned8,673 9,136 7,366 9,142 9,622 
Total nonperforming assets$121,948 $128,359 $105,401 $83,367 $78,992 
Criticized Loans
Classified loans$241,708 $218,135 $191,595 $206,502 $166,893 
Special Mention loans130,882 163,804 138,343 138,366 99,699 
Criticized loans(1)
$372,590 $381,939 $329,938 $344,868 $266,592 
Allowance for credit losses on loans$201,756 $200,378 $199,871 $201,052 $198,578 
Net loan charge-offs$1,722 $703 $5,481 $164 $1,713 
Annualized net loan charge-offs / average loans0.05 %0.02 %0.18 %0.01 %0.06 %
Nonperforming loans / total loans0.88 0.94 0.78 0.59 0.56 
Nonperforming assets / total assets0.68 0.71 0.60 0.48 0.46 
Allowance for credit losses on loans / total loans1.57 1.59 1.59 1.61 1.61 
Allowance for credit losses on loans / nonperforming loans178.11 168.07 203.88 270.87 286.26 
Criticized loans / total loans2.89 3.02 2.62 2.76 2.16 
(1) Criticized loans include classified and Special Mention loans.
10

CONFERENCE CALL INFORMATION:
A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM Eastern Time (9:00 AM Central Time) on Wednesday, January 29, 2025.

The webcast is accessible through Renasant’s investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=8ssY2K7l. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Fourth Quarter Earnings Webcast and Conference Call. International participants should dial 1-412-902-4145 to access the conference call.

The webcast will be archived on www.renasant.com after the call and will remain accessible for one year. A replay can be accessed via telephone by dialing 1-877-344-7529 in the United States and entering conference number 8623913 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until February 12, 2025.

ABOUT RENASANT CORPORATION:
Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $18.0 billion and operates 186 banking, lending, mortgage and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain, or incorporate by reference, statements about Renasant Corporation 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,” “plans,” “potential,” “focus,” “possible,” “may increase,” “may fluctuate,” “will likely result,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would” and “could,” are generally forward-looking in nature and not historical facts. Forward-looking statements include information about the Company’s future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. The Company’s management believes these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Company’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ from those indicated or implied in the forward-looking statements, and such differences may be material. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and, accordingly, investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.

Important factors currently known to management that could cause the Company’s actual results to differ materially from those in forward-looking statements include the following: (i) the Company’s ability to efficiently integrate acquisitions (including its recently-announced acquisition of The First Bancshares, Inc.) into its operations, retain the customers of these businesses, grow the acquired operations and realize the cost savings expected from an acquisition to the extent and in the timeframe anticipated by management (including the possibility that such cost savings will not be realized when expected, or at all, as a result of the impact of, or challenges arising from, the integration of the acquired assets and assumed liabilities into the Company, potential adverse reactions or changes to business or employee relationships, or as a result of other unexpected factors or events); (ii) potential exposure to unknown or contingent risks and liabilities the Company has acquired, or may acquire, or target for acquisition, including in connection with the proposed merger with The First Bancshares, Inc.; (iii) the effect of economic conditions and interest rates on a national, regional or international basis; (iv) timing and success of the implementation of changes in operations to achieve enhanced earnings or effect cost savings; (v) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vi) the financial resources of, and products available from, competitors; (vii) changes in laws and regulations as well as changes in accounting standards; (viii) changes in policy by regulatory agencies or increased scrutiny by, and/or additional regulatory requirements of, regulatory agencies as a result of the Company’s proposed merger with The First Bancshares, Inc.; (ix) changes in the securities and foreign exchange markets; (x) the Company’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xi) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of the Company’s investment securities portfolio; (xii) an insufficient allowance for credit losses as a result of
11

inaccurate assumptions; (xiii) changes in the sources and costs of the capital the Company uses to make loans and otherwise fund the Company’s operations, due to deposit outflows, changes in the mix of deposits and the cost and availability of borrowings; (xiv) general economic, market or business conditions, including the impact of inflation; (xv) changes in demand for loan and deposit products and other financial services; (xvi) concentrations of credit or deposit exposure; (xvii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xviii) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses; (xix) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xx) geopolitical conditions, including acts or threats of terrorism or actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact business and economic conditions in the United States and abroad; (xxi) the impact, extent and timing of technological changes; and (xxii) other circumstances, many of which are beyond management’s control.

Management believes that the assumptions underlying the Company’s forward-looking statements are reasonable, but any of the assumptions could prove to be inaccurate. Investors are urged to carefully consider the risks described in the Company’s filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at www.renasant.com and the SEC’s website at www.sec.gov.

The Company undertakes no obligation, and specifically disclaims any obligation, to update or revise forward-looking statements, whether as a result of new information or to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by federal securities laws.

NON-GAAP FINANCIAL MEASURES:
In addition to results presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), this press release and the presentation slides furnished to the SEC on the same Form 8-K as this release contain non-GAAP financial measures, namely, (i) adjusted loan yield, (ii) adjusted net interest income and margin, (iii) pre-provision net revenue (including on an as-adjusted basis), (iv) adjusted net income, (v) adjusted diluted earnings per share, (vi) tangible book value per share, (vii) the tangible common equity ratio, (viii) the adjusted return on average assets and on average equity and certain other performance ratios (namely, the ratio of pre-provision net revenue to average assets and the return on average tangible assets and on average tangible common equity (including each of the foregoing on an as-adjusted basis)), and (ix) the adjusted efficiency ratio.

These non-GAAP financial measures adjust GAAP financial measures to exclude intangible assets, including related amortization, and/or certain gains or charges (such as, for the fourth quarter of 2024, merger and conversion expenses and the gain on the sale of mortgage servicing rights), with respect to which the Company is unable to accurately predict when these charges will be incurred or, when incurred, the amount thereof. Management uses these non-GAAP financial measures when evaluating capital utilization and adequacy. In addition, the Company believes that these non-GAAP financial measures facilitate the making of period-to-period comparisons and are meaningful indicators of its operating performance, particularly because these measures are widely used by industry analysts for companies with merger and acquisition activities. Also, because intangible assets such as goodwill and the core deposit intangible can vary extensively from company to company and, as to intangible assets, are excluded from the calculation of a financial institution’s regulatory capital, the Company believes that the presentation of this non-GAAP financial information allows readers to more easily compare the Company’s results to information provided in other regulatory reports and the results of other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables below under the caption “Non-GAAP Reconciliations”.

None of the non-GAAP financial information that the Company has included in this release or the accompanying presentation slides are intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Investors should note that, because there are no standardized definitions for the calculations as well as the results, the Company’s calculations may not be comparable to similarly titled measures presented by other companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider its consolidated financial statements in their entirety and not to rely on any single financial measure.


12

Non-GAAP Reconciliations

(Dollars in thousands, except per share data)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Adjusted Pre-Provision Net Revenue (“PPNR”)
Net income (GAAP)$44,747 $72,455 $38,846 $39,409 $28,124 $195,457 $144,678 
Income taxes5,006 24,924 9,666 9,912 3,787 49,508 32,509 
Provision for credit losses (including unfunded commitments)2,600 935 3,300 2,438 2,518 9,273 15,593 
Pre-provision net revenue (non-GAAP)$52,353 $98,314 $51,812 $51,759 $34,429 $254,238 $192,780 
Merger and conversion expense2,076 11,273 — — — 13,349 — 
Gain on extinguishment of debt— — — (56)(620)(56)(620)
Gain on sales of MSR(252)— — (3,472)(547)(3,724)(547)
Gain on sale of insurance agency— (53,349)— — — (53,349)— 
Losses on sales of securities (including impairments)— — — — 19,352 — 41,790 
Adjusted pre-provision net revenue (non-GAAP)$54,177 $56,238 $51,812 $48,231 $52,614 $210,458 $233,403 
Adjusted Net Income and Adjusted Tangible Net Income
Net income (GAAP)$44,747 $72,455 $38,846 $39,409 $28,124 $195,457 $144,678 
Amortization of intangibles1,133 1,160 1,186 1,212 1,274 4,691 5,380 
Tax effect of adjustments noted above(1)
(283)(296)(233)(237)(240)(1,173)(1,012)
Tangible net income (non-GAAP)$45,597 $73,319 $39,799 $40,384 $29,158 $198,975 $149,046 
Net income (GAAP)$44,747 $72,455 $38,846 $39,409 $28,124 $195,457 $144,678 
Merger and conversion expense2,076 11,273 — — — 13,349 — 
Gain on extinguishment of debt— — — (56)(620)(56)(620)
Gain on sales of MSR(252)— — (3,472)(547)(3,724)(547)
Gain on sale of insurance agency— (53,349)— — — (53,349)— 
Losses on sales of securities (including impairments)— — — — 19,352 — 41,790 
Tax effect of adjustments noted above(1)
(113)12,581 — 691 (3,422)13,389 (7,644)
Adjusted net income (non-GAAP)$46,458 $42,960 $38,846 $36,572 $42,887 $165,066 $177,657 
Amortization of intangibles1,133 1,160 1,186 1,212 1,274 4,691 5,380 
Tax effect of adjustments noted above(1)
(283)(296)(233)(237)(240)(1,173)(1,012)
Adjusted tangible net income (non-GAAP)$47,308 $43,824 $39,799 $37,547 $43,921 $168,584 $182,025 
Tangible Assets and Tangible Shareholders’ Equity
Average shareholders’ equity (GAAP)
$2,656,885 $2,553,586 $2,337,731 $2,314,281 $2,261,025 $2,466,384 $2,224,506 
Average intangible assets(1,003,551)(1,004,701)(1,008,638)(1,009,825)(1,011,130)(1,006,665)(1,012,239)
Average tangible shareholders’ equity (non-GAAP)
$1,653,334 $1,548,885 $1,329,093 $1,304,456 $1,249,895 $1,459,719 $1,212,267 
Average assets (GAAP)$17,943,148 $17,681,664 $17,371,369 $17,203,013 $17,195,840 $17,552,695 $17,231,883 
Average intangible assets(1,003,551)(1,004,701)(1,008,638)(1,009,825)(1,011,130)(1,006,665)(1,012,239)
Average tangible assets (non-GAAP)$16,939,597 $16,676,963 $16,362,731 $16,193,188 $16,184,710 $16,546,030 $16,219,644 
Shareholders’ equity (GAAP)
$2,678,318 $2,658,078 $2,354,701 $2,322,350 $2,297,383 $2,678,318 $2,297,383 
13

(Dollars in thousands, except per share data)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Intangible assets(1,003,003)(1,004,136)(1,008,062)(1,009,248)(1,010,460)(1,003,003)(1,010,460)
Tangible shareholders’ equity (non-GAAP)
$1,675,315 $1,653,942 $1,346,639 $1,313,102 $1,286,923 $1,675,315 $1,286,923 
Total assets (GAAP)$18,034,868 $17,958,840 $17,510,391 $17,345,741 $17,360,535 $18,034,868 $17,360,535 
Intangible assets(1,003,003)(1,004,136)(1,008,062)(1,009,248)(1,010,460)(1,003,003)(1,010,460)
Total tangible assets (non-GAAP)$17,031,865 $16,954,704 $16,502,329 $16,336,493 $16,350,075 $17,031,865 $16,350,075 
Adjusted Performance Ratios
Return on average assets (GAAP)0.99 %1.63 %0.90 %0.92 %0.65 %1.11 %0.84 %
Adjusted return on average assets (non-GAAP)1.03 0.97 0.90 0.86 0.99 0.94 1.03 
Return on average tangible assets (non-GAAP)1.07 1.75 0.98 1.00 0.71 1.20 0.92 
Pre-provision net revenue to average assets (non-GAAP)1.16 2.21 1.20 1.21 0.79 1.45 1.12 
Adjusted pre-provision net revenue to average assets (non-GAAP)1.20 1.27 1.20 1.13 1.21 1.20 1.35 
Adjusted return on average tangible assets (non-GAAP)1.11 1.05 0.98 0.93 1.08 1.02 1.12 
Return on average equity (GAAP)6.70 11.29 6.68 6.85 4.93 7.92 6.50 
Adjusted return on average equity (non-GAAP)6.96 6.69 6.68 6.36 7.53 6.69 7.99 
Return on average tangible equity (non-GAAP)10.97 18.83 12.04 12.45 9.26 13.63 12.29 
Adjusted return on average tangible equity (non-GAAP)11.38 11.26 12.04 11.58 13.94 11.55 15.02 
Adjusted Diluted Earnings Per Share
Average diluted shares outstanding64,056,30361,632,44856,684,62656,531,07856,611,21759,748,79056,448,163
Diluted earnings per share (GAAP)$0.70 $1.18 $0.69 $0.70 $0.50 $3.27 $2.56 
Adjusted diluted earnings per share (non-GAAP)$0.73 $0.70 $0.69 $0.65 $0.76 $2.76 $3.15 
Tangible Book Value Per Share
Shares outstanding63,565,69063,564,02856,367,92456,304,86056,142,20763,565,69056,142,207
Book value per share (GAAP)$42.13 $41.82 $41.77 $41.25 $40.92 $42.13 $40.92 
Tangible book value per share (non-GAAP)$26.36 $26.02 $23.89 $23.32 $22.92 $26.36 $22.92 
Tangible Common Equity Ratio
Shareholders’ equity to assets (GAAP)14.85 %14.80 %13.45 %13.39 %13.23 %14.85 %13.23 %
Tangible common equity ratio (non-GAAP)9.84 %9.76 %8.16 %8.04 %7.87 %9.84 %7.87 %
Adjusted Efficiency Ratio
Net interest income (FTE) (GAAP)$135,502 $133,576 $127,598 $125,850 $128,595 $522,526 $530,340 
Total noninterest income (GAAP)$34,218 $89,299 $38,762 $41,381 $20,356 $203,660 $113,075 
Gain on sales of MSR(252)— — (3,472)(547)(3,724)(547)
Gain on extinguishment of debt— — — (56)(620)(56)(620)
Gain on sale of insurance agency— (53,349)— — — 53,349 — 
14

(Dollars in thousands, except per share data)Three Months EndedTwelve Months Ended
Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Dec 31, 2024Dec 31, 2023
Losses on sales of securities (including impairments)— — — — 19,352 — 41,790 
Total adjusted noninterest income (non-GAAP)$33,966 $35,950 $38,762 $37,853 $38,541 $146,531 $153,698 
Noninterest expense (GAAP)$114,747 $121,983 $111,976 $112,912 $111,880 $461,618 $439,622 
Amortization of intangibles(1,133)(1,160)(1,186)(1,212)(1,274)(4,691)(5,380)
Merger and conversion expense(2,076)(11,273)— — — (13,349)— 
Total adjusted noninterest expense (non-GAAP)$111,538 $109,550 $110,790 $111,700 $110,606 $443,578 $434,242 
Efficiency ratio (GAAP)67.61 %54.73 %67.31 %67.52 %75.11 %63.57 %68.33 %
Adjusted efficiency ratio (non-GAAP)65.82 %64.62 %66.60 %68.23 %66.18 %66.30 %63.48 %
Adjusted Net Interest Income and Adjusted Net Interest Margin
Net interest income (FTE) (GAAP)$135,502 $133,576 $127,598 $125,850 $128,595 $522,526 $530,340 
Net interest income collected on problem loans(151)(642)146 (123)(283)(770)(219)
Accretion recognized on purchased loans(616)(1,089)(897)(800)(1,117)(3,402)(4,166)
Adjustments to net interest income$(767)$(1,731)$(751)$(923)$(1,400)$(4,172)$(4,385)
Adjusted net interest income (FTE) (non-GAAP)$134,735 $131,845 $126,847 $124,927 $127,195 $518,354 $525,955 
Net interest margin (GAAP)3.36 %3.36 %3.31 %3.30 %3.33 %3.34 %3.45 %
Adjusted net interest margin (non-GAAP)3.34 %3.32 %3.29 %3.28 %3.29 %3.31 %3.42 %
Adjusted Loan Yield
Loan interest income (FTE) (GAAP)$201,562 $204,935 $200,670 $194,640 $190,857 $801,807 $713,897 
Net interest income collected on problem loans(151)(642)146 (123)(283)(770)(219)
Accretion recognized on purchased loans(616)(1,089)(897)(800)(1,117)(3,402)(4,166)
Adjusted loan interest income (FTE) (non-GAAP) $200,795 $203,204 $199,919 $193,717 $189,457 $797,635 $709,512 
Loan yield (GAAP)6.29 %6.47 %6.41 %6.30 %6.18 %6.37 %5.97 %
Adjusted loan yield (non-GAAP)6.27 %6.41 %6.38 %6.27 %6.14 %6.34 %5.93 %
(1) Tax effect is calculated based on the respective legal entity’s appropriate federal and state tax rates (as applicable) for the period, and includes the estimated impact of both current and deferred tax expense. The tax effect of the discrete gain on sale of insurance agency was calculated based on an estimated tax rate of 27.0%.


###
15
Fourth Quarter 2024 Earnings Call

 
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,” “plans,” “potential,” “focus,” “possible,” “may increase,” “may fluctuate,” “will likely result,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would” and “could,” are generally forward-looking in nature and not historical facts. Forward-looking statements include information about our future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. We believe these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions about future business strategies and decisions that are subject to change. Actual results may differ from those indicated or implied in the forward-looking statements; such differences may be material. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Important factors currently known to management that could cause our actual results to differ materially from those in forward-looking statements include the following: (i) Renasant’s ability to efficiently integrate acquisitions (including its recently-announced acquisition of The First Bancshares, Inc.) into its operations, retain the customers of these businesses, grow the acquired operations and realize the cost savings expected from an acquisition to the extent and in the timeframe anticipated by management (including the possibility that such cost savings will not be realized when expected, or at all, as a result of the impact of, or challenges arising from, the integration of the acquired assets and assumed liabilities into Renasant, potential adverse reactions or changes to business or employee relationships, or as a result of other unexpected factors or events); (ii) potential exposure to unknown or contingent risks and liabilities we have acquired, or may acquire, or target for acquisition, including in connection with the proposed merger with The First Bancshares, Inc.; (iii) the effect of economic conditions and interest rates on a national, regional or international basis; (iv) timing and success of the implementation of changes in operations to achieve enhanced earnings or effect cost savings; (v) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vi) the financial resources of, and products available from, competitors; (vii) changes in laws and regulations as well as changes in accounting standards; (viii) changes in policy by regulatory agencies or increased scrutiny by, and/or additional regulatory requirements of, regulatory agencies as a result of our proposed merger with The First Bancshares, Inc.; (ix) changes in the securities and foreign exchange markets; (x) Renasant’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xi) changes in the quality or composition of our loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of our investment securities portfolio; (xii) an insufficient allowance for credit losses as a result of inaccurate assumptions; (xiii) changes in the sources and costs of the capital we use to make loans and otherwise fund our operations, due to deposit outflows, changes in the mix of deposits and the cost and availability of borrowings; (xiv) general economic, market or business conditions, including the impact of inflation; (xv) changes in demand for loan and deposit products and other financial services; (xvi) concentrations of credit or deposit exposure; (xvii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xviii) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses; (xix) civil unrest, natural disasters, epidemics and other catastrophic events in our geographic area; (xx) geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact business and economic conditions in the United States and abroad; (xxi) the impact, extent and timing of technological changes; and (xxii) other circumstances, many of which are beyond management’s control. Management believes that the assumptions underlying our forward-looking statements are reasonable, but any of the assumptions could prove to be inaccurate. Investors are urged to carefully consider the risks described in Renasant’s filings with the Securities and Exchange Commission (“SEC”) from time to time, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at www.renasant.com and the SEC’s website at www.sec.gov. We undertake no obligation, and specifically disclaim any obligation, to update or revise our forward-looking statements, whether as a result of new information or to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by federal securities laws. Forward-Looking Statements 2

 
Snapshot Assets: $18.0 billion Loans: 12.9 Deposits: 14.6 Equity: 2.7 Loans and Deposits by State MS 20% AL 28% FL 7% Other 1% GA 29% TN 15% Loans MS 40% AL 16% FL 3% GA 30% TN 11% Deposits Footprint *Republic Business Credit operates on a nationwide basis. Locations in California, Illinois and Texas are not shown. Overview 3 Note: As of December 31, 2024

 
• Net income of $44.7 million with diluted EPS of $0.70 and adjusted EPS (non-GAAP)(1) of $0.73 • Net interest margin remained unchanged from Q3 at 3.36% • Loans increased $257.4 million, or 8.1% annualized • Deposits increased $62.9 million, which includes a $126.8 million reduction of brokered deposits • Cost of total deposits decreased 16 basis points to 2.35%; noninterest-bearing deposits represented 23.4% of total deposits • The ratio of allowance for credit losses on loans to total loans decreased 2 basis points to 1.57% on a linked quarter basis • Nonperforming loans represented 0.88% of total loans, a decrease of 6 basis points on a linked quarter basis; annualized net loan charge-offs were 0.05% of average loans Fourth Quarter Highlights 4(1) Adjusted diluted EPS is a non-GAAP financial measure. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”.

 
Balance Sheet $14,077 $14,237 $14,255 $14,510 $14,573 $13 ,200 $13 ,400 $13 ,600 $13 ,800 $14 ,000 $14 ,200 $14 ,400 $14 ,600 $14 ,800 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Deposits $12,351 $12,501 $12,605 $12,628 $12,885 $12 ,000 $12 ,100 $12 ,200 $12 ,300 $12 ,400 $12 ,500 $12 ,600 $12 ,700 $12 ,800 $12 ,900 $13 ,000 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Loans $2,297 $2,322 $2,355 $2,658 $2,678 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Equity 5Note: Dollars in millions Note: In millions $17,361 $17,346 $17,510 $17,960 $18,035 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Assets

 
6 Core Deposit Funding Diversification Granularity • Average deposit account balance is $34 thousand; commercial and consumer deposit accounts, excluding time deposit accounts, averaged approximately $99 thousand and $14 thousand, respectively • Top 20 depositors, excluding public funds, comprise 5.6% of total deposits Customer Consumer 48% Commercial 35% Public Funds 17% Commercial Construction 17% Professional Services 10% Real Estate 14% Financial 14% Manufacturing 7% Trade 10% Health Care 5% Other Services 17% Other 6% Note: As of December 31, 2024 *Includes money market 23% 54% 6% 17% Noninterest-bearing Interest-bearing* Savings Time

 
7 Liquidity Position Cash and Securities to Total Assets 17.0% 16.2% 15.9% 17.8% 16.9% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Loans to Deposits 88% 88% 88% 87% 88% $1 $1 $1 $1 $1 $1 $1 $1 $1 $1 $1 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Average Interest Earning Asset Mix (4Q 2024) 79% 2% 13% 6% Loans Held for Investment Loans Held for Sale Securities Interest Bearing Balances with Banks

 
8 Capital 13.23% 13.39% 13.45% 14.80% 14.85% 7.87% 8.04% 8.16% 9.76% 9.84% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Equity to Assets / Tangible Common Equity Ratio (non-GAAP)* Shareholders' equity to assets Tangible common equity ratio (non-GAAP)* $40.92 $41.25 $41.77 $41.82 $42.13 $22.92 $23.32 $23.89 $26.02 $26.36 $5 $10 $15 $20 $25 $30 $35 $40 $45 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Book Value / TBV (non-GAAP)* Book Value Tangible Book Value (non-GAAP)* * Tangible Common Equity Ratio and Tangible Book Value are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 10.52% 10.59% 10.75% 12.88% 12.72% 14.93% 15.00% 15.15% 17.32% 17.07% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 CET1 / TRBC Common equity tier 1 capital ratio Total risk-based capital ratio Highlights • The Company has a $100.0 million stock repurchase program under which the Company is authorized to repurchase outstanding shares of its common stock either in open market purchases or privately-negotiated transactions. There was no buyback activity during the fourth quarter of 2024

 
9 Asset Quality 2.16% 2.76% 2.62% 3.02% 2.89% 2.00% 2.50% 3.00% 3.50% 4.00% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Criticized Loans/Total Loans 0.44% 0.48% 0.23% 0.14% 0.31% 0.0% 0.5% 1.0% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Loans 30-89 Days Past Due/ Total Loans 0.06% 0.01% 0.18% 0.02% 0.05% 0.0% 0.5% 1.0% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Net Charge-offs / Average Loans 1.61% 1.61% 1.59% 1.59% 1.57% 0.0% 1.0% 2.0% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Allowance/Total Loans 286% 271% 204% 168% 178% 0% 200% 400% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Allowance/Nonperforming Loans 0.46% 0.48% 0.60% 0.71% 0.68% 0.0% 0.5% 1.0% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 NPAs/Total Assets

 
10 Profitability Note: Dollars in millions except per share amounts. *Adjusted Diluted EPS, Adjusted Net Income, Adjusted Net Interest Income (FTE), PPNR and Adjusted PPNR are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. $0.50 $0.70 $0.69 $1.18 $0.70 $0.76 $0.65 $0.69 $0.70 $0.73 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Diluted EPS / Adjusted Diluted EPS (non-GAAP)* Diluted EPS (GAAP) Adjusted Diluted EPS (non-GAAP)* $128.6 $125.9 $127.6 $133.6 $135.5 $127.2 $124.9 $126.8 $131.8 $134.7 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Net Interest Income (FTE) / Adjusted Net Interest Income (FTE) (non-GAAP)* Net interest income (FTE) Adjusted net interest income (FTE) (non-GAAP)* $34.4 $51.8 $51.8 $98.3 $52.4 $52.6 $48.2 $51.8 $56.2 $54.2 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 PPNR (non-GAAP)* / Adjusted PPNR (non-GAAP)* PPNR (non-GAAP)* Adjusted PPNR (non-GAAP)* $28.1 $39.4 $38.8 $72.5 $44.7 $42.9 $36.6 $38.8 $43.0 $46.5 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Net Income / Adjusted Net Income (non-GAAP)* Net Income Adjusted Net Income (non-GAAP)*

 
11 Profitability Ratios *Adjusted ROAA, Adjusted ROTCE, PPNR/Average Assets, Adjusted PPNR/Average Assets and Adjusted Efficiency Ratio are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 4.93% 6.85% 6.68% 11.29% 6.70% 13.94% 11.58% 12.04% 11.26% 11.38% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 ROAE / Adjusted ROTCE (non-GAAP)* ROAE (GAAP) ROTCE (Adjusted) (non-GAAP)* 0.65% 0.92% 0.90% 1.63% 0.99% 0.99% 0.86% 0.90% 0.97% 1.03% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 ROAA / Adjusted ROAA (non-GAAP*) ROAA (GAAP) ROAA (Adjusted) (non-GAAP)* 75% 68% 67% 55% 68% 66% 68% 67% 65% 66% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Efficiency Ratio / Adjusted Efficiency Ratio (non-GAAP)* Efficiency Ratio (GAAP) Adjusted Efficiency Ratio (non-GAAP)* 0.79% 1.21% 1.20% 2.21% 1.16%1.21% 1.13% 1.20% 1.27% 1.20% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 PPNR (non-GAAP)* / Adjusted PPNR Ratios (non- GAAP)* PPNR/Average Assets (non-GAAP)* Adjusted PPNR/Average Assets (non-GAAP)*

 
12 Net Interest Margin (FTE), Loan Yield and Cost of Deposits *Adjusted Net Interest Margin (FTE) and Adjusted Loan Yield are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 3.33% 3.30% 3.31% 3.36% 3.36% 3.29% 3.28% 3.29% 3.32% 3.34% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Net Interest Margin (FTE) / Adjusted Net Interest Margin (FTE)(non-GAAP)* Net Interest Margin Adjusted Net Interest Margin (FTE)(non-GAAP)* 6.18% 6.30% 6.41% 6.47% 6.29% 6.14% 6.27% 6.38% 6.41% 6.27% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Loan Yield / Adjusted Loan Yield (non-GAAP)* Loan yield Adjusted Loan Yield (non-GAAP)* 2.17% 2.35% 2.47% 2.51% 2.35% 2.94% 3.13% 3.28% 3.32% 3.09% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Cost of Deposits Total cost of deposits Cost of total interest-bearing deposits

 
Noninterest Income / Total Revenue $20.4 $41.4 $38.8 $89.3 $34.2 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Noninterest Income 81% 4% 7% 8% YTD Total Revenue(1) Community Banking Wealth Management Mortgage Insurance • Noninterest income decreased $55.1 million on a linked quarter basis primarily due to a gain on the sale of the Company's insurance agency of $53.3 million, recognized during the third quarter Note: Dollars in millions (1) Total revenue is calculated as net interest income plus noninterest income. (2) Effective July 1, 2024, Renasant sold the assets of its insurance agency. 13 (2) Service Charges 31% Fees and Commissions 12%Wealth Management 19% Mortgage Banking 20% Other 18% Mix - 4Q 2024

 
14 Noninterest Expense ($ in thousands) 3Q24 4Q24 Change Salaries and employee benefits 71,307$ 70,260$ (1,047)$ Data processing 4,133 4,145 12 Net occupancy and equipment 11,415 11,312 (103) Advertising and public relations 3,677 3,840 163 Merger and conversion expenses 11,273 2,076 (9,197) Other 20,178 23,114 2,936 Total 121,983$ 114,747$ (7,236)$ $111.9 $112.9 $112.0 $122.0 $114.7 4Q 2023 1Q 2024 2Q 2024 3Q 2023 4Q 2023 Salaries and employee benefits 61% Data processing 4% Net occupancy and equipment 10% Advertising and public relations 3% Merger and conversion expenses 2% Other 20% Mix - 4Q 2024 • Noninterest expense decreased $7.2 million on a linked quarter basis. Merger and conversion expenses were $2.1 million and $11.3 million for the fourth and third quarters, respectively. ($ in millions)

 
Appendix

 
16 Available Liquidity and Uninsured Deposits $9.6 $4.7 Available sources Uninsured and uncollateralized deposits Uninsured Deposits Uncollateralized 4.7$ 32.4 % Collateralized public funds 1.8 12.1 Total 6.5$ 44.5 % % of Total Deposits Internal Sources Cash and cash equivalents 1.1$ Unencumbered securities(1) 0.7 External Sources FHLB borrowing capacity(2) 4.0 Federal Reserve Discount Window 0.7 Other(3) 3.1 Total 9.6$ Liquidity Sources Note: As of December 31, 2024; dollars in billions (1) Approximately $147 million of the unencumbered securities are placed at the Fed (2) Does not include loans participated to REITs that could be moved to Renasant Bank and pledged for additional capacity (3) Includes untapped brokered CDs (per internal policy limits) and unsecured lines of credit

 
17 Securities Composition (at Amortized Cost) Highlights • Represents 10.9% of total assets • Duration of 4.7 years • 54% of portfolio HTM • 10.6% of HTM are CRA investments • 25.3% of HTM are Municipals • Unrealized losses in AOCI on securities totaled $203.7 million ($152.9 million, net of tax); this includes unrealized losses in AOCI on HTM securities of $65.7 million ($49.0 million, net of tax) Note: As of December 31, 2024 Agency CMO 40% Agency MBS 27% Municipal 14% Agency CMBS 10% SBA 6% Other 3% $2.1 Billion

 
18 Non-Owner Occupied CRE – Term* Non-Owner Occupied CRE – Term* Note: As of December 31, 2024. LTV is calculated using the most recent appraisal available. *Excludes construction 18% 10% 10% 23% 7% 8% 16% 6% 2% Warehouse/Industrial Hotels Self Storage Multi-family Medical Office Office (non-medical) Retail Senior Housing Other % of Loans 32.8% Avg Loan Size1 $2.2 million WA LTV 0.01% 0.69% 54.4% 30-89 Days NPLs2 Highlights Office (Non-Medical) Multi-Family Fair Value $325.5-- $985.0-- Avg Loan Size1 1.0-- 3.7-- % of Loans 2.5% 7.6% Past Due2 6.4 0.0 ACL Reserve3 3.5 1.2 WA LTV 56.2 52.9 Loans <75% LTV 84.8 99.5 In Footprint 99.0 99.7 Q4 Loan Growth 3.2 14.4 (1) Based on commitment amount (2) Includes non accrual loans; Ninety-three percent of Office past dues are represented by two loans (3) Includes reserves for both loans accounted for in pools and those individually evaluated Note: Dollars in millions

 
19 Construction Composition Note: As of December 31, 2024; LTV is calculated using the most recent appraisal available. Highlights 24% 9% 29% 7% 4% 11% 11% 2% 3% 1-4 Family Commercial Owner-Occupied Multi-family Office Retail Self Storage Warehouse / Industrial Hotels Senior Housing Average Loan Size $1.80 million % of Total Loans 8.5% Past Due or Nonaccrual 0.3-- Weighted Average LTV 60.3--

 
Forward-Looking Statements 20 ACL / Loss Absorption ($ in thousands) ACL ACL as a % of Loans ACL ACL as a % of Loans Commercial, Financial, Agricultural 43,033$ 2.38 38,527$ 2.04 Lease Financing Receivables 2,384 2.43 3,368 3.72 Real Estate - 1-4 Family Mortgage 47,274 1.37 47,832 1.37 Real Estate - Commercial Mortgage 82,179 1.37 90,361 1.45 Real Estate - Construction 16,656 1.38 15,126 1.38 Installment loans to individuals 8,852 9.83 6,542 7.31 Allowance for Credit Losses on Loans 200,378 1.59 201,756 1.57 Allowance for Credit Losses on Deferred Interest 758 732 Reserve for Unfunded Commitments 15,443 14,943 Total Reserves 216,579 217,431 Purchase Accounting Discounts 5,637 5,021 Total Loss Absorption Capacity 222,216$ 222,452$ 12/31/20249/30/2024

 
21 Mortgage Banking Mortgage Banking Income ($ in thousands) 4Q23 3Q24 4Q24 Gain on sales of loans, net 1,860$ 4,499$ 2,379$ Fees, net 2,010 2,646 2,850 Mortgage servicing income, net 2,722 1,302 1,632 Mortgage banking income, net 6,592$ 8,447$ 6,861$ $342.5 $444.3 $560.3 $543.6 $482.3 $- $100 $200 $300 $400 $500 $600 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Locked Volume (in millions) Mix (in %) 4Q23 3Q24 4Q24 Wholesale 52 47 39 Retail 48 53 61 Purchase 87 87 89 Refinance 13 13 11 Gain on sale margin* 1.14% 1.78% 1.69% 1.56% 2.01% 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 *Gain on sale margin excludes pipeline fair value adjustments and buyback reserve activity included in “Gain on sales of loans, net” in the table above

 
• Creates a leading Southeast bank with ~$25 billion in combined assets • Familiarity and culture mitigate risk • Strengthens demographic profile and adds density Renasant Acquisition of The First Note: Data as of June 30, 2024. Strong Strategic Partner • Granular and diverse core deposit base • Strong credit metrics • Excess liquidity Sound FBMS Fundamentals • Accelerates profitability improvement • Meaningful EPS accretion • Capital ratios well-positioned Financially Compelling Loans Deposits Combined Highlights ~$18B ~$21B Assets ~$25B (1) 22

 

 
v3.24.4
Cover
Oct. 24, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 28, 2025
Entity Registrant Name RENASANT CORP
Entity Incorporation, State or Country Code MS
Entity File Number 001-13253
Entity Tax Identification Number 64-0676974
Entity Address, Address Line One 209 Troy Street
Entity Address, City or Town Tupelo
Entity Address, State or Province MS
Entity Address, Postal Zip Code 38804-4827
City Area Code 662
Local Phone Number 680-1001
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, $5.00 par value per share
Trading Symbol RNST
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000715072
Amendment Flag false
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