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