Renasant Corporation Announces 2009 Fourth Quarter and Year End Earnings Results

Jan 19, 2010, 17:56 ET from Renasant Corporation

TUPELO, Miss., Jan. 19 /PRNewswire-FirstCall/ -- Renasant Corporation (Nasdaq: RNST) (the “Company”) today announced its earnings results for 2009.  Net income for 2009 was $18,518,000 as compared to $24,052,000 for 2008.  Basic and diluted earnings per share were $0.88 and $0.87, respectively, for 2009 compared to basic and diluted earnings per share of $1.15 and $1.14, respectively, for 2008.  

For the fourth quarter of 2009, net income was $4,031,000 as compared to $232,000 for the fourth quarter of 2008.  Basic and diluted earnings per share were $0.19 for the fourth quarter of 2009, compared to basic and diluted earnings per share of $0.01 for the fourth quarter of 2008.  The increase in fourth quarter 2009 net income and earnings per share as compared to 2008 is primarily due to a lower provision for loan losses during the fourth quarter of 2009.

“At the beginning of last year we stated that the Company’s success would be determined by management’s ability to preserve margin, minimize credit losses, grow noninterest income and reduce noninterest expense - all of which would result in continued enhancement of our strong capital position,” commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw.  “Looking back, after experiencing margin compression through the second quarter of 2009, we grew margin during the second half of the year, continued to reduce our construction and development loans, grew noninterest income and reduced noninterest expense notwithstanding the special assessment levied by the FDIC during the second quarter of 2009.”

Total deposits grew to $2.58 billion at December 31, 2009 as compared to approximately $2.34 billion at December 31, 2008.  Included within this growth is an increase in noninterest bearing deposits of $20.7 million and an increase in retail interest bearing deposits of $288.2 million.  This growth allowed the Company to reduce public fund deposits by $80.6 million and borrowings by $315.9 million during 2009.

“The Company experienced strong deposit growth due to management’s strategic efforts to acquire lower costing and noninterest bearing deposits while reducing reliance on higher costing sources of funds.  This growth in deposits will allow us to continue to reduce higher cost borrowings,” stated McGraw.  

Total loans were approximately $2.35 billion at the end of 2009 as compared to approximately $2.53 billion at December 31, 2008.  

“During 2009, total loans declined year-over-year as new loan production did not keep pace with our efforts to have our construction and development loan portfolios, which have been more negatively impacted by the economic downturn, pay off and pay down.  During 2009, our construction and development loan portfolio decreased an additional $150 million,” said McGraw.  

Total assets as of December 31, 2009 were approximately $3.64 billion as compared to approximately $3.72 billion for December 31, 2008.  

Shareholders’ equity was $410,122,000 at December 31, 2009 as compared to $400,371,000 at December 31, 2008.  The change in shareholders’ equity reflects earnings less dividends paid and changes in unrealized gains and losses on available for sale investment securities.  

As of December 31, 2009, the Company’s regulatory capital ratios were in excess of regulatory minimums required to be classified as “well-capitalized”. At December 31, 2009, the Company’s Tier I leverage capital ratio was 8.68%, its Tier I risk-based capital ratio was 11.16%, and its total risk-based capital ratio was 12.41%.  The growth in the Company’s capital ratios reaffirms management’s decision in the fourth quarter of 2008 not to participate in the federal government’s Troubled Asset Relief Program.

Net interest income was $99,466,000 for 2009 as compared to $109,442,000 for 2008.  Net interest income was $24,802,000 for the fourth quarter of 2009 as compared to $26,842,000 for the same period in 2008.  Net interest margin was 3.16% for 2009 as compared to 3.44% for 2008 and net interest margin was 3.22% for the fourth quarter of 2009 as compared to 3.36% for the fourth quarter of 2008.  Net interest margin was unchanged on a linked quarter basis.

Noninterest income was $57,558,000 for 2009 as compared to $54,042,000 for 2008.  For the fourth quarter of 2009, noninterest income was $13,419,000 as compared to $12,751,000 for the fourth quarter of 2008.   The Company experienced an increase in year-over-year and quarter-over-quarter noninterest income primarily associated with our increase in deposits and our record mortgage loan production during 2009.

Noninterest expense was $105,753,000 for 2009 as compared to $107,968,000 for 2008.  Noninterest expense was $25,583,000 for the fourth quarter of 2009 compared to $25,688,000 for the fourth quarter of 2008.  Despite an industry wide special assessment levied by the FDIC which resulted in a $1,750,000 expense to the Company, noninterest expense decreased by approximately $2.2 million during 2009 as compared to 2008.  This planned reduction in noninterest expense was due to achieved efficiencies throughout the Company.

Net charge-offs as a percentage of average loans for the year ending December 31, 2009, were 0.91% compared to 0.55% for 2008.  The Company recorded a provision for loan losses of $7,800,000 and $26,890,000 for the fourth quarter of 2009 and the year ending December 31, 2009, respectively, as compared to $14,979,000 and $22,804,000, respectively, for the same periods in 2008.  The allowance for loan losses as a percentage of loans was 1.67% at December 31, 2009, as compared to 1.51% at September 30, 2009 and 1.38% for December 31, 2008.

“Our credit administration team has an ongoing initiative of aggressively reviewing our credit portfolio with the goal of establishing appropriate reserves against potential future losses,” stated McGraw.  

Non-performing loans (loans 90 days or more past due and nonaccrual loans) were $50,025,000 at December 31, 2009, as compared to $48,656,000 at September 30, 2009 and $39,913,000 at December 31, 2008.  Non-performing loans as a percentage of total loans were 2.13% at December 31, 2009, as compared to 2.03% at September 30, 2009 and 1.58% as of December 31, 2008.   Loans 30-89 days past due as a percentage of total loans decreased to 1.03% at December 31, 2009 down from 1.38% at September 30, 2009 and 1.92% at December 31, 2008.

Other real estate owned was $58,568,000 at December 31, 2009 as compared to $47,457,000 at September 30, 2009 and $25,111,000 at December 31, 2008.  The increase in OREO reflects the Company’s efforts to resolve problem loans by taking possession and controlling the liquidation of the underlying properties.  The Company continues to aggressively manage the property held in our other real estate owned portfolio.  This is evident as the Company sold $16 million of other real estate owned during 2009.

“Renasant is looking forward to a successful 2010 as we build on our 105 year history of success and capitalize on future opportunities to enhance our long-term value,” said McGraw.  

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 a.m. Eastern time on Wednesday, January 20, 2010, through the Company's website: www.renasant.com.  The event will be archived on the Company’s website for one year.  If Internet access is unavailable, the conference may also be heard live (listen-only) via telephone by dialing 1-800-860-2442 in the United States and requesting the Renasant Corporation 2009 earnings call. International participants should dial 1-412-858-4600.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank and Renasant Insurance. As of December 31, 2009, Renasant had assets of approximately $3.6 billion and operated 65 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee and Alabama.

NOTE TO INVESTORS:

This news release may contain, or incorporate by reference, statements which may 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.  Such forward looking statements usually include words such as “expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,” “strategy,” “plan,” “potential,” “possible” and other similar expressions.  

Prospective investors are cautioned that any such forward-looking statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.  Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, significant underperformance in our portfolio of outstanding loans, and competition in our markets. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

RENASANT CORPORATION


























(Unaudited)

























(Dollars in thousands, except per share data)


































































Q4 2009 -


For the Year




2009


2008


Q4 2008  


Ended December 31,




Fourth


Third


Second


First


Fourth


Third


Second


First


Percent






Percent



Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Variance


2009


2008


Variance

Average balances

























Total assets


$ 3,640,514   


$ 3,675,592   


$ 3,738,852   


$ 3,763,245   


$ 3,697,726   


$ 3,744,069   


$ 3,752,401   


$ 3,629,623   


(1.55)  


$ 3,704,350   


$ 3,706,025   


(0.05)  

Earning assets


3,210,554   


3,261,527   


3,337,103   


3,343,699   


3,284,282   


3,329,651   


3,333,176   


3,210,112   


(2.24)  


3,290,356   


3,289,402   


0.03   

Securities


719,298   


703,976   


701,894   


696,068   


713,108   


735,977   


704,694   


555,174   


0.87   


702,690   


677,497   


3.72   

Loans, net of unearned


2,397,195   


2,465,298   


2,542,021   


2,587,436   


2,551,660   


2,571,069   


2,611,843   


2,631,101   


(6.05)  


2,497,377   


2,591,254   


(3.62)  

Intangibles


191,591   


192,078   


192,568   


193,067   


193,671   


194,382   


195,949   


197,036   


(1.07)  


192,404   


195,252   


(1.46)  



























Non-interest bearing deposits


$    307,753   


$    297,390   


$    293,546   


$    299,265   


$    289,079   


$    287,197   


$    298,692   


$    293,528   


6.46   


$    299,465   


$    292,145   


2.51   

Interest bearing deposits


2,247,854   


2,286,184   


2,342,788   


2,250,324   


2,106,341   


2,143,680   


2,233,380   


2,301,291   


6.72   


2,281,793   


2,195,771   


3.92   


Total deposits


2,555,607   


2,583,574   


2,636,334   


2,549,589   


2,395,420   


2,430,877   


2,532,072   


2,594,819   


6.69   


2,581,258   


2,487,916   


3.75   

Borrowed funds


632,689   


647,919   


662,387   


815,548   


856,057   


871,744   


774,052   


587,957   


(26.09)  


689,020   


772,952   


(10.86)  

Shareholders' equity


413,773   


406,779   


404,456   


403,229   


407,286   


406,571   


410,780   


405,355   


1.59   


406,178   


403,025   


0.78   



























Asset quality data

























Nonaccrual loans


$      39,454   


$      37,995   


$      55,217   


$      47,591   


$      35,661   


$      20,578   


$      17,659   


$      16,090   


10.64   


$      39,454   


$      35,661   


10.64   

Loans 90 past due or more


10,571   


10,661   


10,284   


19,789   


4,252   


9,077   


8,962   


5,888   


148.61   


10,571   


4,252   


148.61   

Non-performing loans


50,025   


48,656   


65,501   


67,380   


39,913   


29,655   


26,621   


21,978   


25.34   


50,025   


39,913   


25.34   

Other real estate owned and repossessions


58,568   


47,457   


30,546   


25,318   


25,111   


21,901   


13,111   


12,802   


133.24   


58,568   


25,111   


133.24   

Non-performing assets


$    108,593   


$      96,113   


$      96,047   


$      92,698   


$      65,024   


$      51,556   


$      39,732   


$      34,780   


67.00   


$    108,593   


$      65,024   


67.00   



























Net loan charge-offs (recoveries)


$        5,007   


$        6,962   


$        5,917   


$        4,764   


$        8,098   


$        1,623   


$        2,824   


$        1,726   


(38.17)  


$      22,650   


$      14,271   


58.71   

Allowance for loan losses


39,145   


36,352   


35,964   


35,181   


34,905   


28,024   


26,647   


27,271   


12.15   


39,145   


34,905   


12.15   



























Non-performing loans / total loans


2.13%


2.03%


2.65%


2.69%


1.58%


1.17%


1.05%


0.85%




2.13%


1.58%



Non-performing assets / total assets


2.98%


2.64%


2.59%


2.44%


1.75%


1.38%


1.05%


0.94%




2.98%


1.75%



Allowance for loan losses / total loans


1.67%


1.51%


1.46%


1.40%


1.38%


1.11%


1.05%


1.06%




1.67%


1.38%



Allowance for loan losses /

























    non-performing loans


78.25%


74.71%


54.91%


52.21%


87.45%


94.50%


100.10%


124.08%




78.25%


87.45%



Annualized net loan charge-offs /

























   average loans


0.83%


1.12%


0.93%


0.75%


1.26%


0.25%


0.43%


0.26%




0.91%


0.55%





























Balances at period end

























Total assets


$ 3,641,081   


$ 3,642,657   


$ 3,701,957   


$ 3,795,217   


$ 3,715,980   


$ 3,725,209   


$ 3,782,196   


$ 3,699,276   




$ 3,641,081   


$ 3,715,980   


(2.02)  

Earning assets


3,173,039   


3,188,554   


3,236,615   


3,368,962   


3,286,764   


3,284,813   


3,339,511   


3,267,329   




3,173,039   


3,286,764   


(3.46)  

Securities


714,164   


738,204   


684,723   


709,950   


695,106   


708,406   


741,154   


636,338   




714,164   


695,106   


2.74   

Mortgage loans held for sale


25,749   


24,091   


49,565   


55,194   


41,805   


35,976   


43,487   


33,062   




25,749   


41,805   


(38.41)  

Loans, net of unearned


2,347,615   


2,402,423   


2,468,844   


2,506,780   


2,530,886   


2,525,424   


2,541,012   


2,580,911   




2,347,615   


2,530,886   


(7.24)  

Intangibles


191,357   


191,839   


192,328   


192,822   


193,323   


194,022   


194,688   


196,264   




191,357   


193,323   


(1.02)  



























Non-interest bearing deposits


$    304,962   


$    297,858   


$    292,129   


$    303,536   


$    284,227   


$    287,850   


$    305,877   


$    304,171   




$    304,962   


$    284,227   


7.30   

Interest bearing deposits


2,271,138   


2,263,126   


2,308,081   


2,385,769   


2,060,104   


2,124,318   


2,161,301   


2,322,471   




2,271,138   


2,060,104   


10.24   


Total deposits


2,576,100   


2,560,984   


2,600,210   


2,689,305   


2,344,331   


2,412,168   


2,467,178   


2,626,642   




2,576,100   


2,344,331   


9.89   

Borrowed funds


618,024   


635,076   


665,755   


672,130   


933,976   


870,326   


878,813   


623,906   




618,024   


933,976   


(33.83)  

Shareholders' equity


410,122   


410,473   


400,680   


400,095   


400,371   


406,267   


403,795   


409,827   




410,122   


400,371   


2.44   



























Market value per common share


$        13.60   


$        14.85   


$        15.02   


$        12.56   


$        17.03   


$        21.71   


$        14.73   


$        22.50   




$        13.60   


$        17.03   


(20.14)  

Book value per common share


19.45   


19.47   


19.01   


18.99   


19.00   


19.33   


19.27   


19.58   




19.45   


19.00   


2.36   

Tangible book value per common share


10.38   


10.37   


9.89   


9.84   


9.83   


10.10   


9.98   


10.20   




10.38   


9.83   


5.58   

Shareholders' equity to assets (actual)


11.26%


11.27%


10.82%


10.54%


10.77%


10.91%


10.68%


11.08%




11.26%


10.77%



Tangible capital ratio


6.34%


6.34%


5.94%


5.75%


5.88%


6.01%


5.83%


6.10%




6.34%


5.88%





























Leverage ratio


8.68%


8.56%


8.37%


8.28%


8.34%


8.30%


8.12%


8.23%




8.68%


8.34%



Tier 1 risk-based capital ratio


11.16%


11.04%


10.92%


11.00%


10.85%


10.81%


10.49%


10.03%




11.16%


10.85%



Total risk-based capital ratio


12.41%


12.29%


12.17%


12.25%


12.10%


11.84%


11.45%


11.00%




12.41%


12.10%





























Detail of Loans by Category

























Commercial, financial, agricultural


$    281,329   


$    280,930   


$    292,177   


$    301,899   


$    312,648   


$    299,233   


$    303,385   


$    310,497   




$    281,329   


$    312,648   


(10.02)  

Lease financing


778   


936   


1,283   


1,434   


1,746   


1,943   


2,130   


2,304   




778   


1,746   


(55.44)  

Real estate - construction


133,299   


153,367   


180,202   


210,747   


241,818   


241,661   


335,430   


385,957   




133,299   


241,818   


(44.88)  

Real estate - 1-4 family mortgages


820,917   


848,267   


878,263   


872,796   


886,380   


877,045   


857,165   


846,626   




820,917   


886,380   


(7.39)  

Real estate - commercial mortgages


1,040,589   


1,048,135   


1,054,169   


1,055,537   


1,015,894   


1,032,797   


972,111   


954,131   




1,040,589   


1,015,894   


2.43   

Installment loans to individuals


70,703   


70,788   


62,750   


64,367   


72,400   


72,745   


70,791   


81,396   




70,703   


72,400   


(2.34)  


Loans, net of unearned


$ 2,347,615   


$ 2,402,423   


$ 2,468,844   


$ 2,506,780   


$ 2,530,886   


$ 2,525,424   


$ 2,541,012   


$ 2,580,911   




$ 2,347,615   


$ 2,530,886   


(7.24)  



























*Percent variance not meaningful














































































RENASANT CORPORATION























(Unaudited)

























(Dollars in thousands, except per share data)







































Q4 2009 -


For the Year




2009


2008


Q4 2008  


Ended December 31,




Fourth


Third


Second


First


Fourth


Third


Second


First


Percent






Percent



Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Variance


2009


2008


Variance

Statement of earnings

























Interest income - taxable equivalent basis


42,526   


$      43,820   


$      43,836   


$      44,988   


$      47,989   


$      50,904   


$      51,386   


$      54,324   


(11.38)  


$    175,170   


$    204,603   


(14.39)  



























Interest income


$      41,331   


$      42,614   


$      42,709   


$      43,910   


$      47,110   


$      50,004   


$      50,465   


$      53,383   


(12.27)  


$    170,564   


$    200,962   


(15.13)  

Interest expense


16,529   


17,423   


18,549   


18,597   


20,268   


22,063   


22,963   


26,226   


(18.45)  


71,098   


91,520   


(22.31)  


Net interest income


24,802   


25,191   


24,160   


25,313   


26,842   


27,941   


27,502   


27,157   


(7.60)  


99,466   


109,442   


(9.12)  



























Provision for loan losses


7,800   


7,350   


6,700   


5,040   


14,979   


3,000   


2,200   


2,625   


(47.93)  


26,890   


22,804   


17.92   


Net interest income after provision


17,002   


17,841   


17,460   


20,273   


11,863   


24,941   


25,302   


24,532   


43.32   


72,576   


86,638   


(16.23)  



























Service charges on deposit accounts


5,801   


5,379   


5,395   


5,425   


5,601   


5,861   


5,750   


5,433   


3.57   


22,000   


22,645   


(2.85)  

Fees and commissions on loans and deposits


3,554   


3,961   


4,424   


4,682   


3,674   


4,198   


4,481   


3,765   


(3.27)  


16,621   


16,118   


3.12   

Insurance commissions and fees


705   


949   


837   


828   


868   


920   


838   


857   


(18.78)  


3,319   


3,483   


(4.71)  

Trust revenue


559   


501   


488   


491   


551   


597   


670   


626   


1.45   


2,039   


2,444   


(16.57)  

Net gain on sale of securities


123   


-   


1,123   


427   


-   


-   


-   


-   


 N/M  


1,673   


-   


 N/M  

Gain on sale of mortgage loans


1,665   


1,832   


2,293   


1,776   


1,263   


1,352   


1,311   


1,521   


31.83   


7,566   


5,447   


38.90   

Other


1,012   


1,331   


864   


1,133   


794   


716   


740   


1,655   


27.46   


4,340   


3,905   


11.14   


Total non-interest income


13,419   


13,953   


15,424   


14,762   


12,751   


13,644   


13,790   


13,857   


5.24   


57,558   


54,042   


6.51   



























Salaries and employee benefits


13,572   


13,363   


13,736   


14,744   


12,583   


15,250   


14,849   


14,718   


7.86   


55,415   


57,400   


(3.46)  

Occupancy and equipment


2,981   


3,045   


3,063   


3,249   


3,208   


3,399   


3,413   


3,373   


(7.08)  


12,338   


13,393   


(7.88)  

Data processing


1,407   


1,439   


1,430   


1,329   


1,310   


1,289   


1,303   


1,307   


7.40   


5,605   


5,209   


7.60   

Amortization of intangibles


482   


489   


494   


501   


683   


610   


578   


584   


(29.43)  


1,966   


2,455   


(19.92)  

Other


7,141   


7,782   


8,409   


7,097   


7,904   


7,236   


7,555   


6,816   


(9.65)  


30,429   


29,511   


3.11   


Total non-interest expense


25,583   


26,118   


27,132   


26,920   


25,688   


27,784   


27,698   


26,798   


(0.41)  


105,753   


107,968   


(2.05)  



























Income before income taxes


4,838   


5,676   


5,752   


8,115   


(1,074)  


10,801   


11,394   


11,591   


(550.47)  


24,381   


32,712   


(25.47)  

Income taxes


807   


1,451   


1,496   


2,109   


(1,306)  


3,243   


3,409   


3,314   


(161.79)  


5,863   


8,660   


(32.30)  


Net income


$        4,031   


$        4,225   


$        4,256   


$        6,006   


$           232   


$        7,558   


$        7,985   


$        8,277   


1,637.50   


$      18,518   


$      24,052   


(23.01)  



























Basic earnings per share


$          0.19   


$          0.20   


$          0.20   


$          0.29   


$          0.01   


$          0.36   


$          0.38   


$          0.40   


1,800.00   


$          0.88   


$          1.15   


(23.48)  

Diluted earnings per share


0.19   


0.20   


0.20   


0.28   


0.01   


0.36   


0.38   


0.39   


1,800.00   


0.87   


1.14   


(23.68)  



























Average basic shares outstanding


21,078,873   


21,075,879   


21,073,228   


21,067,539   


21,039,068   


20,980,557   


20,946,287   


20,878,478   


0.19   


21,073,916   


20,961,364   


0.54   

Average diluted shares outstanding


21,217,841   


21,213,839   


21,193,560   


21,188,397   


21,178,966   


21,175,465   


21,205,208   


21,133,235   


0.18   


21,211,672   


21,118,214   


0.44   



























Common shares outstanding


21,082,991   


21,078,828   


21,074,568   


21,067,539   


21,067,539   


21,013,427   


20,954,627   


20,930,871   


0.07   


21,082,991   


21,067,539   


0.07   

Cash dividend per common share


$          0.17   


$          0.17   


$          0.17   


$          0.17   


$          0.17   


$          0.17   


$          0.17   


$          0.17   


-   


$          0.68   


$          0.68   


-   



























Performance ratios

























Return on average shareholders' equity


3.87%


4.12%


4.22%


6.04%


0.23%


7.40%


7.82%


8.21%




4.56%


5.97%



Return on average shareholders' equity, excluding amortization expense


4.15%


4.41%


4.52%


6.35%


0.64%


7.76%


8.17%


8.57%




4.86%


6.34%



Return on average assets


0.44%


0.46%


0.46%


0.65%


0.02%


0.80%


0.86%


0.92%




0.50%


0.65%



Return on average assets, excluding amortization expense


0.47%


0.49%


0.49%


0.68%


0.07%


0.84%


0.89%


0.96%




0.53%


0.69%





























Net interest margin (FTE)


3.22%


3.22%


3.04%


3.19%


3.36%


3.45%


3.43%


3.52%




3.16%


3.44%



Yield on earning assets (FTE)


5.26%


5.33%


5.27%


5.46%


5.81%


6.08%


6.20%


6.81%




5.32%


6.22%



Average earning assets to average assets


88.19%


88.73%


89.25%


88.85%


88.82%


88.93%


88.83%


88.44%




88.82%


88.76%



Average loans to average deposits


92.96%


94.22%


94.40%


99.13%


105.30%


104.03%


101.20%


99.90%




95.15%


102.55%





























Noninterest income (less securities gains/


























losses) to average assets


1.45%


1.51%


1.53%


1.54%


1.37%


1.45%


1.48%


1.54%




1.51%


1.46%



Noninterest expense to average assets


2.79%


2.82%


2.91%


2.90%


2.76%


2.95%


2.97%


2.97%




2.85%


2.91%



Net overhead ratio


1.34%


1.31%


1.38%


1.36%


1.39%


1.50%


1.49%


1.43%




1.35%


1.46%



Efficiency ratio (FTE)


64.91%


64.73%


66.65%


65.41%


63.47%


65.40%


65.61%


63.87%




65.43%


64.60%





























*Percent variance not meaningful


























Contact:

For Media:

For Financials:


John Oxford

Stuart Johnson


Vice President

Senior Executive Vice President  


Director of External Affairs

Chief Financial Officer


(662) 680-1219

(662) 680-1472


joxford@renasant.com

stuartj@renasant.com





SOURCE Renasant Corporation



RELATED LINKS

http://www.renasant.com