Renasant Corporation Announces 2010 Third Quarter Earnings

Oct 19, 2010, 19:58 ET from Renasant Corporation

TUPELO, Miss., Oct. 19 /PRNewswire-FirstCall/ -- Renasant Corporation (Nasdaq: RNST) (the "Company") today announced results for the third quarter of 2010.  Net income for the third quarter of 2010 was $19,551,000 as compared to $3,796,000 for the second quarter of 2010 and $4,225,000 for the third quarter of 2009.  Basic and diluted earnings per share were $0.81 during the third quarter of 2010 as compared to basic and diluted earnings per share of $0.18 during the second quarter of 2010 and basic and diluted earnings per share of $0.20 for the third quarter of 2009.  

Highlights of the third quarter of 2010 included:

  • The Company expanded into North Georgia through its acquisition of the assets of Crescent Bank & Trust ("Crescent") in an FDIC-assisted transaction.  The acquisition, which was completed on July 23, 2010, added 11 branches and increased total assets $778.8 million, total loans $369.6 million, total deposits $698.0 million, and resulted in a pre-tax gain of $42.2 million.
  • On July 23, 2010, the Company completed a private placement of 3,925,000 shares of its common stock, resulting in proceeds to the Company, net of issuance costs, of $51.4 million.  The proceeds from the private placement further enhanced the Company's strong capital position.  The Company's leverage, Tier 1 and total capital ratios were 9.03%, 13.55% and 14.80%, respectively, at September 30, 2010, in all instances above "well-capitalized" thresholds.  The Company increased its tangible capital equity ratio to 7.00% at September 30, 2010 from 6.52% at June 30, 2010 and 6.34% at December 31, 2009.
  • The Company hired seasoned banking talent at the production level in its Memphis, Tennessee, DeSoto County, Oxford and Columbus, Mississippi, and Birmingham, Alabama, markets.
  • The Company opened its 5th branch in Birmingham by opening an office in Mountain Brook.  The Company also announced plans to open a new banking location in Columbus which, along with Starkville and West Point, is part of the growing "Golden Triangle" region of Northeast Mississippi.   We expect this location to open during the fourth quarter of 2010.

"We are proud of our accomplishments during the third quarter of 2010.  These accomplishments included our first FDIC-assisted acquisition, enhancement to our capital ratios, completion of a successful equity raise and continued improvement in our legacy operations," commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw.  "With additional capital, excess cash and strong reserves, we believe that we are positioned to take advantage of opportunities to expand our market share and footprint as they present themselves in the future."

Total assets as of September 30, 2010 were approximately $4.26 billion, an 18.43% increase since June 30, 2010 and a 16.90% increase from December 31, 2009.  Total deposits were $3.42 billion representing a 27.07% increase from June 30, 2010 and a 32.6% increase since December 31, 2009.  In the Company's legacy markets (that is, excluding the North Georgia markets), the Company experienced strong core deposit growth as deposits increased to $2.72 billion at September 30, 2010.  

Noninterest bearing deposits in the legacy markets grew to $322.3 million, an increase of 2.86% on a linked quarter basis and 5.67% since December 31, 2009.  Additionally, the Company continued to successfully reduce its cost of funding by changing the mix of interest bearing deposits by growing lower costing retail non-time deposits while at the same time reducing public fund and retail time deposits.  The Company's cost of legacy deposits for the third quarter of 2010 was 1.43% compared to 1.55% for the second quarter of 2010 and 1.76% for the third quarter of 2009.

Total loans were approximately $2.58 billion at the end of the third quarter of 2010 as compared to $2.26 billion at June 30, 2010 and $2.35 billion at December 31, 2009.  Loans from the Company's legacy markets were $2.22 billion for the third quarter of 2010.  The Company continued to focus on reducing its exposure to construction and land development loans.  In its legacy markets, the Company reduced its construction and land development portfolio by $24.1 million, or 7.80%, during the third quarter of 2010 to $284.6 million dollars, or 12.7% as a percentage of our legacy loan portfolio at September 30, 2010.  For the nine months ended September 30, 2010, the Company has reduced its construction and land development portfolio by $130.2 million, or 31.40%, compared to the balance of this portfolio at December 31, 2009.

Net interest income was $24.3 million for the third quarter of 2010 as compared to $23.7 million for the second quarter of 2010 and $25.2 million for the third quarter of 2009.  Net interest margin was 2.81% for the third quarter of 2010 as compared to 3.15% for the second quarter of 2010 and 3.22% for the third quarter of 2009.  The impact of the Crescent acquisition decreased net interest margin for the third quarter of 2010 by 16 basis points.  In addition, the Company repaid approximately $148 million of Federal Home Loan Bank ("FHLB") borrowings, including $23 million of FHLB borrowings assumed in the Crescent acquisition.  The Company incurred a $2.8 million prepayment penalty which further reduced net interest margin by 36 basis points.  The Company's net interest margin, excluding the impact of the Crescent acquisition and FHLB prepayment penalty, was 3.33% for the third quarter of 2010.

"We anticipate margin to improve as we continue to reduce rates on time deposit renewals, deploy excess cash from the Crescent acquisition and realize the full benefit of paying off high costing FHLB advances," commented McGraw.  

Noninterest income was $54.5 million for the third quarter of 2010, which includes a pre-tax gain of $42.2 million recognized in connection with the Crescent acquisition, as compared to $14.3 million for the second quarter of 2010 and $14.0 million for the third quarter in 2009.  During the third quarter of 2010, the Company experienced a 64% increase in mortgage fee income on a linked quarter basis which was offset by an impairment charge on its trust preferred securities portfolio of approximately $2.9 million.

Noninterest expense was $36.8 million for the third quarter of 2010 as compared to $26.2 million for the second quarter of 2010 and $26.1 million for the third quarter of 2009.  Noninterest expense for the third quarter of 2010 included normal operating expenses of Crescent, merger expenses related to the acquisition totaling $2.2 million and an impairment charge on the write-downs of other real estate owned of approximately $3.3 million for the quarter.

The loans acquired in the Crescent acquisition were recorded at fair value which includes an estimated loan impairment.  Therefore, in accordance with generally accepted accounting principles, the Company has not assigned any allowance for loan losses to these acquired loans at September 30, 2010.  Excluding the Crescent loans, the allowance for loan losses as a percentage of loans was 2.02% at September 30, 2010 as compared to 1.82% at June 30, 2010 and 1.67% at December 31, 2009.  The Company recorded a provision for loan losses of $11.5 million for the third quarter of 2010 as compared to $7.0 million for the second quarter of 2010 and $7.4 million for the third quarter of 2009.  The increase in the provision for loan losses in the third quarter of 2010 is reflective of the higher net charge-offs incurred during the quarter and potential deterioration in the collateral values on certain loans.  Annualized net charge-offs as a percentage of average loans were 1.18% for the third quarter of 2010 as compared to 1.21% for the second quarter of 2010 and 1.12% for the third quarter of 2009.  

Although the allowance for loan losses and the related provision for loan losses were not affected by the Crescent acquisition, the Company's other measures of credit quality were significantly impacted.  The Company's nonperforming loans were $132.7 million at September 30, 2010 which includes $67.1 million of nonperforming loans acquired in the Crescent acquisition.  However, we expect the loss share agreement with the FDIC, as well as our adjustments to the balances of the acquired Crescent assets to record them at fair value, to provide substantial protection against loss on those assets.  Excluding the impact of the Crescent loans, nonperforming loans (loans 90 days or more past due and nonaccrual loans) were $65.6 million at September 30, 2010 as compared to $64.7 million at June 30, 2010 and $50.0 million at December 31, 2009.  Furthermore, loans 30 to 89 days past due (excluding Crescent loans 30 to 89 days past due) as a percent of total loans was 1.05% at September 30, 2010 compared to 1.57% at June 30, 2010 and 1.03% at December 31, 2009.  

Other real estate owned, excluding other real estate owned from Crescent, was $62.9 million on September 30, 2010 as compared to $66.8 million on June 30, 2010 and $58.6 million at December 31, 2009.  We acquired other real estate owned with a fair value of $49.3 million in the Crescent acquisition.

"We look towards a strong finish to 2010 as we will soon enter a new banking market in Columbus, Mississippi, deploy excess cash to help grow margin, and continue to realize stabilization of nonperforming loans," stated McGraw.

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM EST on Wednesday, October 20, 2010.

The webcast can be accessed through Renasant's investor relations website at www.renasant.com or http://www.talkpoint.com/viewer/starthere.asp?Pres=132763.  To access the conference via telephone, dial 1-877-317-6789 in the United States and request the Renasant Corporation Third Quarter 2010 Earnings Webcast and Conference Call.  International participants should dial 1-412-317-6789 to access the conference call.

The webcast will be archived on www.renasant.com beginning one hour after the call and will remain accessible for one year.  Replays can also be accessed via telephone by dialing 1-877-344-7529 in the United States and entering 445166 or by dialing 1-412-317-0088 internationally and entering 445166.  Telephone replay access is available until 9:00 AM EST on November 4, 2010.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank and Renasant Insurance.  Renasant has assets of approximately $4.2 billion and operates over 75 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.

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)

















Q3 2010 -


For the Nine Months



2010


2009


Q3 2009  


Ended September 30,



Third


Second


First


Fourth


Third


Second


First


Percent






Percent

Statement of earnings

Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Variance


2010


2009


Variance
























Interest income - taxable equivalent basis

$                 44,770


$                 39,590


$                 40,900


$                 42,526


$                 43,820


$                 43,836


$                 44,988


2.17


$                125,260


$               132,644


(5.57)
























Interest income

$                 43,433


$                 38,381


$                 39,708


$                 41,331


$                 42,614


$                 42,709


$                 43,910


1.92


$                121,522


$               129,233


(5.97)

Interest expense

19,101


14,701


15,298


16,529


17,423


18,549


18,597


9.63


49,100


54,569


(10.02)


Net interest income

24,332


23,680


24,410


24,802


25,191


24,160


25,313


(3.41)


72,422


74,664


(3.00)
























Provision for loan losses

11,500


7,000


6,665


7,800


7,350


6,700


5,040


56.46


25,165


19,090


31.82


Net interest income after provision

12,832


16,680


17,745


17,002


17,841


17,460


20,273


(28.08)


47,257


55,574


(14.97)
























Service charges on deposit accounts

5,771


5,361


5,090


5,801


5,379


5,395


5,425


7.29


16,222


16,199


0.14

Fees and commissions on loans and deposits

3,654


3,409


3,721


3,554


3,961


4,424


4,682


(7.75)


10,784


13,067


(17.47)

Insurance commissions and fees

828


830


834


705


949


837


828


(12.75)


2,492


2,614


(4.67)

Trust revenue

562


632


584


559


501


488


491


12.18


1,778


1,480


20.14

Securities (losses) gains

(1,009)


2,049


(160)


123


-


1,123


427


-


880


1,550


(43.23)

Gain on sale of mortgage loans

1,774


994


1,329


1,665


1,832


2,293


1,776


(3.17)


4,097


5,901


(30.57)

Gain on acquisition

42,211


-


-


-


-


-


-


-


42,211


-


-

Other

743


1,069


1,086


1,012


1,331


864


1,133


(44.18)


2,898


3,328


(12.92)


Total non-interest income

54,534


14,344


12,484


13,419


13,953


15,424


14,762


290.84


81,362


44,139


84.33
























Salaries and employee benefits

16,694


13,052


13,197


13,572


13,363


13,736


14,744


24.93


42,943


41,843


2.63

Occupancy and equipment

3,271


2,926


2,931


2,981


3,045


3,063


3,249


7.42


9,128


9,357


(2.45)

Data processing

1,703


1,580


1,426


1,407


1,439


1,430


1,329


18.35


4,709


4,198


12.17

Amortization of intangibles

505


470


476


482


489


494


501


3.27


1,451


1,484


(2.22)

Other

14,613


8,160


7,604


7,141


7,782


8,409


7,097


87.78


30,377


23,288


30.44


Total non-interest expense

36,786


26,188


25,634


25,583


26,118


27,132


26,920


40.85


88,608


80,170


10.53
























Income before income taxes

30,580


4,836


4,595


4,838


5,676


5,752


8,115


438.76


40,011


19,543


104.73

Income taxes

11,029


1,040


988


807


1,451


1,496


2,109


660.10


13,057


5,056


158.25


Net income

$                 19,551


$                   3,796


$                   3,607


$                   4,031


$                   4,225


$                   4,256


$                   6,006


362.75


$                  26,954


$                 14,487


86.06
























Basic earnings per share

$                     0.81


$                     0.18


$                     0.17


$                     0.19


$                     0.20


$                     0.20


$                     0.29


305.00


$                      1.22


$                     0.69


76.81

Diluted earnings per share

0.81


0.18


0.17


0.19


0.20


0.20


0.28


305.00


1.21


0.68


77.94
























Average basic shares outstanding

24,098,629


21,088,942


21,082,991


21,078,873


21,075,879


21,073,228


21,067,539


14.34


22,101,234


21,072,246


4.88

Average diluted shares outstanding

24,208,642


21,224,836


21,208,934


21,217,841


21,213,839


21,193,560


21,188,397


14.12


22,230,277


21,204,924


4.84
























Common shares outstanding

25,041,540


21,100,130


21,082,991


21,082,991


21,078,828


21,074,568


21,067,539


18.80


25,041,540


21,078,828


18.80

Cash dividend per common share

$                     0.17


$                     0.17


$                     0.17


$                     0.17


$                     0.17


$                     0.17


$                     0.17


-


$                      0.51


$                     0.51


-
























Performance ratios






















Return on average shareholders' equity

16.64%


3.69%


3.55%


3.87%


4.12%


4.22%


6.04%




8.44%


4.79%



Return on average shareholders' equity, excluding amortization expense

16.91%


3.97%


3.84%


4.15%


4.41%


4.52%


6.35%




8.72%


5.10%



Return on average assets

1.83%


0.42%


0.40%


0.44%


0.46%


0.46%


0.65%




0.94%


0.52%



Return on average assets, excluding amortization expense

1.86%


0.45%


0.44%


0.47%


0.49%


0.49%


0.68%




0.97%


0.55%


























Net interest margin (FTE)

2.81%


3.15%


3.27%


3.22%


3.22%


3.04%


3.19%




3.08%


3.15%



Yield on earning assets (FTE)

4.93%


5.02%


5.23%


5.26%


5.33%


5.27%


5.46%




5.08%


5.35%



Average earning assets to average assets

84.78%


87.42%


87.28%


88.19%


88.73%


89.25%


88.85%




86.45%


89.04%



Average loans to average deposits

76.41%


84.53%


88.47%


92.96%


94.22%


94.40%


99.13%




82.69%


95.88%


























Noninterest income (less securities gains/























losses) to average assets

5.19%


1.36%


1.42%


1.45%


1.51%


1.53%


1.54%




2.81%


1.53%



Noninterest expense to average assets

3.44%


2.90%


2.87%


2.79%


2.82%


2.91%


2.90%




3.09%


2.88%



Net overhead ratio

-1.75%


1.54%


1.45%


1.34%


1.31%


1.38%


1.36%




0.28%


1.35%



Efficiency ratio (FTE)

45.87%


66.75%


67.31%


64.91%


64.73%


66.65%


65.41%




56.25%


65.60%


























*Percent variance not meaningful



RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)

















Q3 2010 -


For the Nine Months



2010


2009


Q3 2009  


Ended September 30,



Third


Second


First


Fourth


Third


Second


First


Percent






Percent

Average balances

Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Quarter


Variance


2010


2009


Variance

Total assets

$            4,246,566


$            3,616,125


$            3,621,361


$            3,640,514


$            3,675,592


$            3,738,852


$            3,763,245


15.53


$             3,830,155


$            3,725,532


2.81

Earning assets

3,600,033


3,161,214


3,160,620


3,210,554


3,261,527


3,337,103


3,343,699


10.38


3,311,167


3,317,233


(0.18)

Securities

729,789


734,690


697,913


719,298


703,976


701,894


696,068


3.67


720,914


697,076


3.42

Loans, net of unearned

2,533,567


2,304,663


2,354,443


2,397,195


2,465,298


2,542,021


2,587,436


2.77


2,400,482


2,531,138


(5.16)

Intangibles

192,447


190,639


190,881


191,591


192,078


192,568


193,067


0.19


192,391


192,567


(0.09)
























Non-interest bearing deposits

$               351,449


$               315,242


$               310,726


$               307,753


$               297,390


$               293,546


$               299,265


18.18


$                325,890


$               296,711


9.83

Interest bearing deposits

2,929,739


2,387,175


2,332,741


2,247,854


2,286,184


2,342,788


2,250,324


28.15


2,552,064


2,293,230


11.29


Total deposits

3,281,188


2,702,417


2,643,467


2,555,607


2,583,574


2,636,334


2,549,589


27.00


2,877,954


2,589,941


11.12

Borrowed funds

438,047


468,196


530,654


632,689


647,919


662,387


815,548


(32.39)


478,620


708,004


(32.40)

Shareholders' equity

466,109


412,959


412,132


413,773


406,779


404,456


403,229


14.59


427,100


404,043


5.71
























Asset quality data






















Assets not subject to loss share:






















Nonaccrual loans

$                 56,674


$                 53,868


$                 44,688


$                 39,454


$                 37,995


$                 55,217


$                 47,591


49.16


$                  56,674


$                 37,995


49.16

Loans 90 past due or more

8,923


10,794


9,916


10,571


10,661


10,284


19,789


(16.30)


8,923


10,661


(16.30)

Non-performing loans

65,597


64,662


54,604


50,025


48,656


65,501


67,380


34.82


65,597


48,656


34.82

Other real estate owned and repossessions

62,936


66,797


62,508


58,568


47,457


30,546


25,318


32.62


62,936


47,457


32.62

Non-performing assets

$               128,533


$               131,459


$               117,112


$               108,593


$                 96,113


$                 96,047


$                 92,698


33.73


$                128,533


$                 96,113


33.73
























Assets subject to loss share:






















Nonaccrual loans

$                 67,135


$                          -


$                          -


$                           -


$                          -


$                          -


$                          -


-


$                  67,135


$                           -


-

Loans 90 past due or more

-


-


-


-


-


-


-


-


-


-


-

Non-performing loans subject to loss share

67,135


-


-


-


-


-


-


-


67,135


-


-

Other real estate owned and repossessions

49,286


-


-


-


-


-


-


-


49,286


-


-

Non-performing assets subject to loss share

$               116,421


$                          -


$                          -


$                           -


$                          -


$                          -


$                          -


-


$                116,421


$                           -


-
























Net loan charge-offs (recoveries)

$                   7,514


$                   6,948


$                   4,716


$                   5,007


$                   6,962


$                   5,917


$                   4,764


7.93


$                  19,178


$                 17,643


8.70

Allowance for loan losses

45,131


41,146


41,094


39,145


36,352


35,964


35,181


24.15


45,131


36,352


24.15
























Non-performing loans / total loans

2.93%


2.86%


2.37%


2.13%


2.03%


2.65%


2.69%




2.93%


2.03%



Non-performing assets / total assets

3.02%


3.66%


3.22%


2.98%


2.64%


2.59%


2.44%




3.02%


2.64%



Allowance for loan losses / total loans

2.02%


1.82%


1.78%


1.67%


1.51%


1.46%


1.40%




2.02%


1.51%



Allowance for loan losses /






















    non-performing loans

68.80%


63.63%


75.26%


78.25%


74.71%


54.91%


52.21%




68.80%


74.71%



Annualized net loan charge-offs /






















   average loans

1.18%


1.21%


0.81%


0.83%


1.12%


0.93%


0.75%




1.07%


0.93%


























Balances at period end






















Total assets

$            4,256,253


$            3,593,872


$            3,641,709


$            3,641,081


$            3,642,657


$            3,701,957


$            3,795,217




$             4,256,253


$            3,642,657


16.84

Earning assets

3,257,079


3,156,451


3,200,159


3,173,039


3,188,554


3,236,615


3,368,962




3,257,079


3,188,554


2.15

Securities

745,486


721,640


741,207


714,164


738,204


684,723


709,950




745,486


738,204


0.99

Mortgage loans held for sale

25,639


21,261


16,597


25,749


24,091


49,565


55,194




25,639


24,091


6.43

Loans, net of unearned

2,239,717


2,263,263


2,308,335


2,347,615


2,402,423


2,468,844


2,506,780




2,239,717


2,402,423


(6.77)

Assets subject to loss share

393,179


-


-


-


-


-


-




393,179


-


-

Intangibles

192,391


190,411


190,881


191,357


191,839


192,328


192,822




192,391


191,839


0.29
























Non-interest bearing deposits

$               361,504


$               313,309


$               315,064


$               304,962


$               297,858


$               292,129


$               303,536




$                361,504


$               297,858


21.37

Interest bearing deposits

3,054,424


2,374,903


2,398,784


2,271,138


2,263,126


2,308,081


2,385,769




3,054,424


2,263,126


34.96


Total deposits

3,415,928


2,688,212


2,713,848


2,576,100


2,560,984


2,600,210


2,689,305




3,415,928


2,560,984


33.38

Borrowed funds

322,245


459,762


483,183


618,024


635,076


665,755


672,130




322,245


635,076


(49.26)

Shareholders' equity

477,034


412,235


410,557


410,122


410,473


400,680


400,095




477,034


410,473


16.22
























Market value per common share

$                   15.21


$                   14.35


$                   16.18


$                   13.60


$                   14.85


$                   15.02


$                   12.56




$                    15.21


$                   14.85


2.42

Book value per common share

19.05


19.54


19.47


19.45


19.47


19.01


18.99




19.05


19.47


(2.17)

Tangible book value per common share

11.37


10.51


10.42


10.38


10.37


9.89


9.84




11.37


10.37


9.59

Shareholders' equity to assets (actual)

11.21%


11.47%


11.27%


11.26%


11.27%


10.82%


10.54%




11.21%


11.27%



Tangible capital ratio

7.00%


6.52%


6.37%


6.34%


6.34%


5.94%


5.75%




7.00%


6.34%


























Leverage ratio

9.03%


8.78%


8.74%


8.68%


8.56%


8.37%


8.28%




9.03%


8.56%



Tier 1 risk-based capital ratio

13.55%


11.42%


11.20%


11.12%


11.04%


10.92%


11.00%




13.55%


11.04%



Total risk-based capital ratio

14.80%


12.67%


12.45%


12.37%


12.29%


12.17%


12.25%




14.80%


12.29%


























Loans not subject to loss share by category






















Commercial, financial, agricultural

$               259,970


$               273,356


$               276,749


$               281,329


$               280,930


$               292,177


$               301,899




$                259,970


$               280,930


(7.46)

Lease financing

547


601


677


778


936


1,283


1,434




547


936


(41.56)

Real estate - construction

62,593


62,469


110,121


133,299


153,367


180,202


210,747




62,593


153,367


(59.19)

Real estate - 1-4 family mortgages

773,243


798,185


809,271


820,917


848,267


878,263


872,796




773,243


848,267


(8.84)

Real estate - commercial mortgages

1,078,396


1,071,876


1,055,102


1,040,589


1,048,135


1,054,169


1,055,537




1,078,396


1,048,135


2.89

Installment loans to individuals

64,968


56,776


56,415


70,703


70,788


62,750


64,367




64,968


70,788


(8.22)


Loans, net of unearned

$            2,239,717


$            2,263,263


$            2,308,335


$            2,347,615


$            2,402,423


$            2,468,844


$            2,506,780




$             2,239,717


$            2,402,423


(6.77)
























*Percent variance not meaningful



Contacts

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