Welcome to our dedicated page for Renasant news (Ticker: RNST), a resource for investors and traders seeking the latest updates and insights on Renasant stock.
Renasant Corporation (NYSE: RNST) is the parent of Renasant Bank, a long-established financial services institution with a significant presence in the Southeastern United States. This news page aggregates company announcements, earnings updates and other disclosures related to Renasant’s commercial banking and financial services activities.
Renasant regularly issues press releases covering quarterly and annual earnings, dividend declarations and investor webcasts. Earnings announcements detail net income, earnings per share, net interest income, noninterest income, loan growth, deposit trends, credit quality metrics and capital ratios. The company also provides information on stock repurchase authorizations and other capital management actions.
In addition to financial results, Renasant’s news flow includes updates on corporate transactions and strategic developments. For example, the company has reported on the completion and integration of its merger with The First Bancshares, Inc., as well as the impact of that merger on loans, deposits and securities. Leadership and governance changes, such as the appointment of a new Chief Executive Officer and director retirement plans, are also communicated through news releases.
Renasant highlights its community involvement through announcements from the Renasant Community Foundation, which has awarded grants to nonprofit organizations across the Southeast in areas such as education, human services, arts and culture and community development. The company also issues notices about upcoming webcasts and conference calls where executive management discusses financial performance with analysts.
Investors and observers can use this news page to review Renasant’s historical announcements, monitor trends in its earnings and capital actions, and follow developments in its banking, lending, mortgage, wealth management and nationwide factoring and asset-based lending activities.
Renasant Corporation (NASDAQ: RNST) reported a net income of $30 million for Q3 2020, down from $37.4 million in Q3 2019. Basic and diluted EPS were $0.53, compared to $0.64 in the prior year. For the first nine months of 2020, net income totaled $52.1 million, a significant decrease from $129.2 million in 2019. Total assets rose to $14.81 billion, with loans held for investment at $11.08 billion. The company continues facing elevated expenses due to COVID-19. It has closed over 11,000 PPP loans worth $1.31 billion, enhancing liquidity but affecting capital ratios.
Renasant Corporation (NASDAQ: RNST) is set to announce its 2020 third quarter results after the NASDAQ closes on October 27, 2020. A conference call is scheduled for October 28, 2020, at 10:00 AM Eastern Time. Renasant operates over 200 banking and financial offices across multiple states and has approximately $14.9 billion in assets. The company warns that forward-looking statements may involve risks including interest rate fluctuations, economic downturns, and competitive pressures, impacting future performance projections.
Renasant Corporation (Nasdaq: RNST) priced its public offering of $100 million in 4.50% Fixed-to-Floating Rate Subordinated Notes due 2035. These Notes offer a fixed interest rate until September 15, 2030, after which the rate will reset quarterly. The expected net proceeds from the offering are $98.75 million, which will be used for general corporate purposes, including capital growth and debt repayment. The offering is set to close on September 3, 2020, pending customary conditions.
Renasant Corporation (NASDAQ: RNST) announced a quarterly cash dividend of $0.22 per share, payable on September 30, 2020, to shareholders of record as of September 16, 2020. With total assets of approximately $14.9 billion, Renasant operates over 200 banking, mortgage, and wealth management offices across five states. This dividend reflects the company's ongoing commitment to returning value to its shareholders.
Renasant Corporation announces the appointment of James C. Mabry IV as Executive Vice President and Chief Financial Officer, effective August 1, 2020. Mabry, with over 35 years in financial services, previously held positions at South State Corporation and Keefe, Bruyette and Woods. He will oversee mergers and acquisitions while Kevin D. Chapman continues as Chief Operating Officer. Renasant, with approximately $15 billion in assets, operates over 200 offices across five states and is recognized as one of Forbes’ Best Banks in the World for 2020.
Renasant Corporation (RNST) reported a net income of $20.1 million for Q2 2020, significantly down from $46.6 million in Q2 2019. Basic EPS was $0.36, a decrease from $0.80 the previous year. For the first half of 2020, net income dropped to $22.1 million from $91.7 million in the same period of 2019. The bank closed over 10,500 PPP loans totaling approximately $1.3 billion, generating $44.7 million in fees. The company also increased its loan loss reserves to $29.5 million due to pandemic-related uncertainties, which has raised concerns over future credit quality.
Renasant Corporation (NASDAQ: RNST) will announce its second quarter 2020 results on July 27, 2020, after NASDAQ's closing. A conference call with executive management will follow on July 28, 2020, at 10:00 AM ET. Investors can access the call via Renasant's investor relations website or through a dedicated conference line. Renasant Corporation operates over 200 banking and wealth management locations across five states, managing approximately $13.9 billion in assets. The company cautions that forward-looking statements may differ materially from actual results due to various risks and uncertainties.