Renasant (NYSE: RNST) lifts Q1 earnings, expands buybacks and dividend
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Renasant Corporation reported strong first quarter 2026 results, with net income of $88.2 million and diluted EPS of $0.94, up from $0.65 a year earlier. Return on assets reached 1.33% and return on average equity was 9.20%, while return on average tangible common equity was 16.36%.
Net interest margin was 3.87%, and the adjusted efficiency ratio improved to 52.82%. Loans were $19.0 billion, down modestly linked quarter, while deposits rose to $22.1 billion, including higher noninterest-bearing balances. Credit metrics remained stable, with net loan charge-offs of $2.3 million, or 0.05% annualized, and nonperforming loans at 1.06% of total loans.
The board approved a higher quarterly dividend of $0.24 per share payable June 30, 2026, up $0.01, and expanded the stock repurchase authorization by $100.0 million, leaving about $136.8 million available after buying back $75.0 million of shares in the quarter and $25.0 million more in April.
Positive
- Strong earnings growth: Q1 2026 net income rose to $88.2 million and diluted EPS to $0.94, compared with $41.5 million and $0.65 in Q1 2025, driving ROAA to 1.33% and ROATCE (non-GAAP) to 16.36%.
- Improved efficiency: The efficiency ratio fell to 55.73%, and the adjusted efficiency ratio (non-GAAP) improved to 52.82%, supported by a $15.4 million linked-quarter reduction in noninterest expense.
- Enhanced capital return: The quarterly dividend was increased to $0.24 per share, and share repurchases totaled $100.0 million between Q1 and April, with approximately $136.8 million in remaining buyback authorization.
Negative
- None.
Insights
Q1 2026 shows sharply higher earnings, better efficiency, and increased capital return.
Renasant delivered net income of $88.2 million and diluted EPS of $0.94, more than double the $41.5 million and $0.65 in Q1 2025. Profitability metrics strengthened, with ROAA at 1.33% and ROATCE (non-GAAP) at 16.36%, reflecting improved operating performance after prior merger-related costs.
Net interest margin remained solid at 3.87% (adjusted 3.61%), while the adjusted efficiency ratio improved to 52.82% from 64.43% a year earlier, helped by a $15.4 million linked-quarter drop in noninterest expense and lower merger and conversion costs. Deposits grew $626.4 million with a higher mix of noninterest-bearing balances, and loan balances dipped only modestly.
Asset quality stayed manageable: net charge-offs were just $2.3 million, or 0.05% annualized, and the allowance for credit losses on loans was 1.56% of total loans, with coverage of nonperforming loans at 147.71%. The board raised the quarterly dividend to $0.24 per share and expanded buyback capacity, bringing remaining authorization to about $136.8 million as of March 31, 2026, signaling continued willingness to return capital based on current conditions.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net income: $88.2M
Diluted EPS: $0.94
Net interest margin: 3.87%
+5 more
8 metrics
Net income
$88.2M
Q1 2026 net income compared with $41.5M in Q1 2025
Diluted EPS
$0.94
Q1 2026 diluted earnings per share versus $0.65 in Q1 2025
Net interest margin
3.87%
Q1 2026 net interest margin; adjusted NIM 3.61%
Quarterly dividend
$0.24 per share
Cash dividend approved for June 30, 2026 payment, up from $0.23
Share repurchases Q1 2026
$75.0M
Common stock repurchased during Q1 2026 at $39.53 average price
Remaining buyback authorization
$136.8M
Repurchase capacity available as of April 28, 2026
Loans held for investment
$19.0B
Loan portfolio balance at March 31, 2026
Deposits
$22.1B
Total deposits at March 31, 2026 after $626.4M linked-quarter growth
Key Terms
adjusted diluted EPS (non-GAAP), efficiency ratio, allowance for credit losses, nonperforming loans, +2 more
6 terms
adjusted diluted EPS (non-GAAP) financial
"Adjusted diluted EPS (Non-GAAP) (1) | 0.93 | 0.91 | 0.66"
efficiency ratio financial
"Our efficiency ratio improved to 55.73% for the first quarter of 2026"
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
allowance for credit losses financial
"The ratio of the allowance for credit losses on loans to total loans was 1.56%"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
nonperforming loans financial
"Nonperforming loans to total loans increased to 1.06% at March 31, 2026"
Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.
tangible common equity ratio financial
"Tangible common equity ratio (non-GAAP) (1) | 9.08 | 9.26"
Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.
pre-provision net revenue (PPNR) financial
"Adjusted pre-provision net revenue (“PPNR”) (non-GAAP) (1) | $118,294"
Pre-provision net revenue (PPNR) measures a bank’s core income after operating costs but before setting aside money for expected loan losses, taxes or extraordinary items. It shows how much cash the business generates from normal activities — like a household’s take-home income before putting money into an emergency fund — and matters to investors because higher PPNR means a bigger cushion to absorb loan losses and support future profits or dividend payments.
Earnings Snapshot
Net income: $88.2M
Q1 2026
Net income
$88.2M
Diluted EPS
$0.94
Net interest margin
3.87%
Return on average assets
1.33%
Return on average equity
9.20%
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
Date of report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(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 class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
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 April 28, 2026, Renasant Corporation (the “Company”) issued a press release announcing earnings for the first quarter of 2026. The press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 7.01. Regulation FD Disclosure
On April 28, 2026, the Company also made available presentation materials (the “Presentation”) prepared for use with its earnings conference call on April 29, 2026. 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,” or 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, 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; (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) our ability to remediate the material weakness in the Company’s internal control over financial reporting identified in the Company’s most recent Annual Report on Form 10-K; (vi) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vii) the financial resources of, and products available from, competitors; (viii) changes in laws and regulations as well as changes in accounting standards; (ix) changes in governmental and regulatory policy, whether applicable specifically to financial institutions or impacting the United States generally (such as, for
example, changes in trade policy); (x) changes in the securities and foreign exchange markets; (xi) the Company’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xii) 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; (xiii) an insufficient allowance for credit losses as a result of inaccurate assumptions; (xiv) 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; (xv) general economic, market or business conditions, including the impact of inflation; (xvi) changes in demand for loan and deposit products and other financial services; (xvii) concentrations of credit or deposit exposure; (xviii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xix) losses resulting from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting our customers, employees and third party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including as a result of sophisticated attacks using artificial intelligence (“AI”) and similar tools; (xxi) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxii) geopolitical conditions, including acts or threats of terrorism and 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; (xxiii) the impact, extent and timing of technological changes, including the rapid development of AI technologies; and (xxiv) 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
99.1 Press release issued by Renasant Corporation announcing earnings for the first quarter of 2026
99.2 Presentation materials for Renasant Corporation First Quarter 2026 Earnings Call
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: April 28, 2026 | By: | /s/ Kevin D. Chapman | |||||||||
Kevin D. Chapman | |||||||||||
Chief Executive Officer | |||||||||||
| Contacts: | For Media: | For Financials: | |||||||||
| John S. Oxford | James C. Mabry IV | ||||||||||
| Senior Vice President | Executive Vice President | ||||||||||
| Chief Marketing Officer | Chief Financial Officer | ||||||||||
| (662) 680-1219 | (662) 680-1281 | ||||||||||
RENASANT CORPORATION ANNOUNCES
EARNINGS FOR THE FIRST QUARTER OF 2026 AND AN INCREASE IN ITS QUARTERLY DIVIDEND
TUPELO, MISSISSIPPI (April 28, 2026) - Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the first quarter of 2026.
| (Dollars in thousands, except earnings per share) | Three Months Ended | ||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Mar 31, 2025 | |||||||||
| Net income and earnings per share: | |||||||||||
| Net income | $88,228 | $78,948 | $41,518 | ||||||||
| Merger and conversion related expenses (net of tax) | — | (7,931) | (593) | ||||||||
| Basic EPS | 0.94 | 0.84 | 0.65 | ||||||||
| Diluted EPS | 0.94 | 0.83 | 0.65 | ||||||||
Adjusted diluted EPS (Non-GAAP)(1) | 0.93 | 0.91 | 0.66 | ||||||||
| Impact to diluted EPS from merger and conversion related expenses (net of tax) | — | (0.08) | (0.01) | ||||||||
The Company also announced today that the Company’s Board of Directors has approved a quarterly cash dividend of $0.24 per share to be paid June 30, 2026, to shareholders of record as of June 16, 2026. This represents a $0.01 increase in the Company’s quarterly dividend.
“Two years ago, we challenged ourselves by setting aspirational goals to improve the financial performance of Renasant. The strong financial results for the first quarter exceeded the goals we set for ourselves and reflect the strong performance of our team. We are also pleased to announce our second dividend increase within the last six months,” remarked Kevin D. Chapman, President and Chief Executive Officer of the Company. “We believe we are well positioned to build upon this success in future quarters as our team remains focused on growing customer relationships and hiring talent throughout our Southeastern markets.”
1
Quarterly Highlights
Performance Metrics
•Return on assets was 1.33% for the first quarter of 2026, up from 0.94% in the first quarter of 2025
•Return on average equity for the first quarter of 2026 was 9.20%, up from 6.25% in the first quarter of 2025
•Return on average tangible common equity (non-GAAP)(1) was 16.36% for the first quarter of 2026, up from 10.16% in the first quarter of 2025
•Our efficiency ratio improved to 55.73% for the first quarter of 2026, down from 65.51% in the first quarter of 2025, and the adjusted efficiency ratio (non-GAAP)(1) improved to 52.82% for the first quarter of 2026, down from 64.43% in the first quarter of 2025
Earnings
•Net income for the first quarter of 2026 was $88.2 million; diluted EPS and adjusted diluted EPS (non-GAAP)(1) were $0.94 and $0.93, respectively
•Net interest income (fully tax equivalent) for the first quarter of 2026 was $228.4 million, down $3.9 million linked quarter
•For the first quarter of 2026, net interest margin was 3.87%, down 2 basis points linked quarter. Adjusted net interest margin (non-GAAP)(1) was 3.61%, down 1 basis point linked quarter
•Cost of total deposits was 1.94% for the first quarter of 2026, down 3 basis points linked quarter
•Noninterest income decreased $0.9 million linked quarter
•Mortgage banking income increased $0.5 million linked quarter. The mortgage division generated $542.3 million in interest rate lock volume in the first quarter of 2026, up $52.8 million linked quarter. Gain on sale margin was 1.85% for the first quarter of 2026, down 14 basis points linked quarter
•Noninterest expense decreased $15.4 million linked quarter, which includes a $10.6 million decrease in merger and conversion related expenses. The Company continued to realize cost savings from the integration with The First Bancshares, Inc. in the first quarter of 2026
Balance Sheet
•Loans decreased $71.8 million linked quarter, representing a 1.5% annualized net loan decrease
•Securities increased $225.3 million linked quarter. The Company purchased $379.0 million in securities during the first quarter which was offset by a negative fair market value adjustment in the Company’s available-for-sale portfolio of $15.9 million and cash flows related to principal payments, calls and maturities of $141.5 million
•Deposits at March 31, 2026 increased $626.4 million linked quarter. Seasonal increases in public fund deposits contributed $380.4 million to the overall increase. Noninterest bearing deposits increased $139.5 million linked quarter and represented 23.5% of total deposits at March 31, 2026
Capital and Stock Repurchase Program
•Book value per share and tangible book value per share (non-GAAP)(1) both increased 1.4% linked quarter
•During the first quarter of 2026, the Company repurchased $75.0 million of common stock at a weighted average price of $39.53. In April, an additional $25.0 million has been repurchased at a weighted average price of $38.36
•Effective April 28, 2026, the Company’s Board of Directors increased the amount authorized for repurchase under the Company’s stock repurchase program by $100.0 million. This plan, under which the Company is authorized to repurchase outstanding shares of its common stock either in open market purchases or privately negotiated transactions, will remain in effect until the earlier of October 2026 or the repurchase of the entire amount authorized under the plan. With this increase, as of April 28, 2026, approximately $136.8 million in repurchase authorization remains available under the program.
Credit Quality
•The Company recorded a provision for credit losses on loans and unfunded commitments of $4.2 million and $3.9 million, respectively for the first quarter of 2026, representing a decrease of $1.2 million and $1.6 million, respectively, linked quarter
•The ratio of the allowance for credit losses on loans to total loans was 1.56% at March 31, 2026, up 2 basis points linked quarter
•The coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 147.71% at March 31, 2026, compared to 167.00% at December 31, 2025
•Net loan charge-offs for the first quarter of 2026 were $2.3 million, or 0.05% annualized, down $6.8 million linked quarter
•Nonperforming loans to total loans increased to 1.06% at March 31, 2026 compared to 0.92% at
2
December 31, 2025, and criticized loans (which include classified and Special Mention loans) to total loans decreased to 2.77% at March 31, 2026, compared to 2.94% at December 31, 2025
(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
Income Statement
| (Dollars in thousands, except per share data) | Three Months Ended | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Interest income | |||||||||||||||||
| Loans held for investment | $ | 295,397 | $ | 305,604 | $ | 308,110 | $ | 301,794 | $ | 196,566 | |||||||
| Loans held for sale | 2,876 | 3,617 | 4,675 | 4,639 | 3,008 | ||||||||||||
| Securities | 32,266 | 30,232 | 30,217 | 28,408 | 12,117 | ||||||||||||
| Other | 7,581 | 7,480 | 8,096 | 9,057 | 8,639 | ||||||||||||
| Total interest income | 338,120 | 346,933 | 351,098 | 343,898 | 220,330 | ||||||||||||
| Interest expense | |||||||||||||||||
| Deposits | 103,860 | 105,673 | 115,573 | 111,921 | 79,386 | ||||||||||||
| Borrowings | 10,701 | 13,867 | 12,005 | 13,118 | 6,747 | ||||||||||||
| Total interest expense | 114,561 | 119,540 | 127,578 | 125,039 | 86,133 | ||||||||||||
| Net interest income | 223,559 | 227,393 | 223,520 | 218,859 | 134,197 | ||||||||||||
| Provision for credit losses | |||||||||||||||||
| Provision for loan losses | 4,224 | 5,473 | 9,650 | 75,400 | 2,050 | ||||||||||||
| Provision for unfunded commitments | 3,856 | 5,462 | 800 | 5,922 | 2,700 | ||||||||||||
| Total provision for credit losses | 8,080 | 10,935 | 10,450 | 81,322 | 4,750 | ||||||||||||
| Net interest income after provision for credit losses | 215,479 | 216,458 | 213,070 | 137,537 | 129,447 | ||||||||||||
| Noninterest income | 50,272 | 51,125 | 46,026 | 48,334 | 36,395 | ||||||||||||
| Noninterest expense | 155,328 | 170,750 | 183,830 | 183,204 | 113,876 | ||||||||||||
| Income before income taxes | 110,423 | 96,833 | 75,266 | 2,667 | 51,966 | ||||||||||||
| Income taxes | 22,195 | 17,885 | 15,478 | 1,649 | 10,448 | ||||||||||||
| Net income | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 1,018 | $ | 41,518 | |||||||
Adjusted net income (non-GAAP)(1) | $ | 88,071 | $ | 86,879 | $ | 72,917 | $ | 65,877 | $ | 42,111 | |||||||
Adjusted pre-provision net revenue (“PPNR”) (non-GAAP)(1) | $ | 118,294 | $ | 118,335 | $ | 103,210 | $ | 103,001 | $ | 57,507 | |||||||
| Basic earnings per share | $ | 0.94 | $ | 0.84 | $ | 0.63 | $ | 0.01 | $ | 0.65 | |||||||
| Diluted earnings per share | 0.94 | 0.83 | 0.63 | 0.01 | 0.65 | ||||||||||||
Adjusted diluted earnings per share (non-GAAP)(1) | 0.93 | 0.91 | 0.77 | 0.69 | 0.66 | ||||||||||||
| Average basic shares outstanding | 93,693,615 | 94,469,544 | 94,623,551 | 94,580,927 | 63,666,419 | ||||||||||||
| Average diluted shares outstanding | 94,228,343 | 95,172,380 | 95,284,603 | 95,136,160 | 64,028,025 | ||||||||||||
| Cash dividends per common share | $ | 0.23 | $ | 0.23 | $ | 0.22 | $ | 0.22 | $ | 0.22 | |||||||
(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
Performance Ratios
| Three Months Ended | |||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Return on average assets | 1.33 | % | 1.17 | % | 0.90 | % | 0.02 | % | 0.94 | % | |||||||
Adjusted return on average assets (non-GAAP)(1) | 1.33 | 1.29 | 1.09 | 1.01 | 0.95 | ||||||||||||
Return on average tangible assets (non-GAAP)(1) | 1.51 | 1.35 | 1.06 | 0.13 | 1.01 | ||||||||||||
Adjusted return on average tangible assets (non-GAAP)(1) | 1.51 | 1.47 | 1.27 | 1.18 | 1.02 | ||||||||||||
| Return on average equity | 9.20 | 8.14 | 6.25 | 0.11 | 6.25 | ||||||||||||
Adjusted return on average equity (non-GAAP)(1) | 9.19 | 8.95 | 7.62 | 7.06 | 6.34 | ||||||||||||
Return on average tangible equity (non-GAAP)(1) | 16.36 | 14.80 | 11.87 | 1.43 | 10.16 | ||||||||||||
Adjusted return on average tangible equity (non-GAAP)(1) | 16.33 | 16.18 | 14.22 | 13.50 | 10.30 | ||||||||||||
| Efficiency ratio (fully taxable equivalent) | 55.73 | 60.23 | 67.05 | 67.59 | 65.51 | ||||||||||||
Adjusted efficiency ratio (non-GAAP)(1) | 52.82 | 53.52 | 57.51 | 57.07 | 64.43 | ||||||||||||
| Dividend payout ratio | 24.47 | 27.38 | 34.92 | 2200.00 | 33.85 | ||||||||||||
Capital and Balance Sheet Ratios
| As of | |||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Shares outstanding | 92,881,329 | 94,636,207 | 95,020,881 | 95,019,311 | 63,739,467 | ||||||||||||
| Market value per share | $ | 36.13 | $ | 35.22 | $ | 36.89 | $ | 35.93 | $ | 33.93 | |||||||
| Book value per share | 41.63 | 41.05 | 40.26 | 39.77 | 42.79 | ||||||||||||
Tangible book value per share (non-GAAP)(1) | 25.00 | 24.65 | 23.77 | 23.10 | 27.07 | ||||||||||||
| Shareholders’ equity to assets | 14.27 | % | 14.52 | % | 14.31 | % | 14.19 | % | 14.93 | % | |||||||
Tangible common equity ratio (non-GAAP)(1) | 9.08 | 9.26 | 8.98 | 8.77 | 9.99 | ||||||||||||
Leverage ratio(2) | 9.54 | 9.61 | 9.46 | 9.36 | 11.39 | ||||||||||||
Common equity tier 1 capital ratio(2) | 11.22 | 11.24 | 11.04 | 11.08 | 12.59 | ||||||||||||
Tier 1 risk-based capital ratio(2) | 11.22 | 11.24 | 11.04 | 11.08 | 13.35 | ||||||||||||
Total risk-based capital ratio(2) | 14.77 | 14.78 | 14.88 | 14.97 | 16.89 | ||||||||||||
(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) Preliminary
5
Noninterest Income and Noninterest Expense
| (Dollars in thousands) | Three Months Ended | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Noninterest income | |||||||||||||||||
| Service charges on deposit accounts | $ | 14,740 | $ | 14,535 | $ | 13,416 | $ | 13,618 | $ | 10,364 | |||||||
| Fees and commissions | 4,654 | 5,192 | 4,167 | 6,650 | 3,787 | ||||||||||||
| Wealth management revenue | 8,678 | 8,572 | 8,217 | 7,345 | 7,067 | ||||||||||||
| Mortgage banking income | 9,435 | 8,924 | 9,017 | 11,263 | 8,147 | ||||||||||||
| BOLI income | 3,689 | 3,697 | 4,235 | 3,383 | 2,929 | ||||||||||||
| Other | 9,076 | 10,205 | 6,974 | 6,075 | 4,101 | ||||||||||||
| Total noninterest income | $ | 50,272 | $ | 51,125 | $ | 46,026 | $ | 48,334 | $ | 36,395 | |||||||
| Noninterest expense | |||||||||||||||||
| Salaries and employee benefits | $ | 91,749 | $ | 98,082 | $ | 98,982 | $ | 99,542 | $ | 71,957 | |||||||
| Data processing | 5,221 | 5,636 | 5,541 | 5,438 | 4,089 | ||||||||||||
| Net occupancy and equipment | 18,031 | 16,123 | 18,415 | 17,359 | 11,754 | ||||||||||||
| Other real estate owned | 1,399 | 481 | 328 | 157 | 685 | ||||||||||||
| Professional fees | 4,402 | 4,327 | 3,435 | 4,223 | 2,884 | ||||||||||||
| Advertising and public relations | 4,599 | 4,314 | 5,254 | 4,490 | 4,297 | ||||||||||||
| Intangible amortization | 8,220 | 8,465 | 8,674 | 8,884 | 1,080 | ||||||||||||
| Communications | 4,009 | 4,493 | 3,955 | 3,184 | 2,033 | ||||||||||||
| Merger and conversion related expenses | — | 10,567 | 17,494 | 20,479 | 791 | ||||||||||||
| Other | 17,698 | 18,262 | 21,752 | 19,448 | 14,306 | ||||||||||||
| Total noninterest expense | $ | 155,328 | $ | 170,750 | $ | 183,830 | $ | 183,204 | $ | 113,876 | |||||||
Mortgage Banking Income
| (Dollars in thousands) | Three Months Ended | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
Gain on sales of loans, net(1) | $ | 5,305 | $ | 5,243 | $ | 5,270 | $ | 5,316 | $ | 4,500 | |||||||
| Fees, net | 2,842 | 2,970 | 3,050 | 3,740 | 2,317 | ||||||||||||
| Mortgage servicing income, net | 1,288 | 711 | 697 | 2,207 | 1,330 | ||||||||||||
| Total mortgage banking income | $ | 9,435 | $ | 8,924 | $ | 9,017 | $ | 11,263 | $ | 8,147 | |||||||
(1) Gain on sales of loans, net includes pipeline fair value adjustments
6
Balance Sheet
| (Dollars in thousands) | As of | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Assets | |||||||||||||||||
| Cash and cash equivalents | $ | 1,216,980 | $ | 1,070,718 | $ | 1,083,785 | $ | 1,378,612 | $ | 1,091,339 | |||||||
| Securities held to maturity, at amortized cost | 1,006,511 | 1,030,073 | 1,051,884 | 1,076,817 | 1,101,901 | ||||||||||||
| Securities available for sale, at fair value | 2,809,647 | 2,560,818 | 2,512,650 | 2,471,487 | 1,002,056 | ||||||||||||
| Loans held for sale, at fair value | 230,980 | 265,959 | 286,779 | 356,791 | 226,003 | ||||||||||||
| Loans held for investment | 18,975,248 | 19,047,039 | 19,025,521 | 18,563,447 | 13,055,593 | ||||||||||||
| Allowance for credit losses on loans | (295,862) | (293,955) | (297,591) | (290,770) | (203,931) | ||||||||||||
| Loans, net | 18,679,386 | 18,753,084 | 18,727,930 | 18,272,677 | 12,851,662 | ||||||||||||
| Premises and equipment, net | 463,723 | 465,141 | 471,213 | 465,100 | 279,011 | ||||||||||||
| Other real estate owned | 12,954 | 15,191 | 10,578 | 11,750 | 8,654 | ||||||||||||
| Goodwill | 1,406,667 | 1,405,840 | 1,411,711 | 1,419,782 | 988,898 | ||||||||||||
| Other intangibles | 138,392 | 146,612 | 155,077 | 163,751 | 13,025 | ||||||||||||
| Bank-owned life insurance | 494,874 | 492,541 | 488,920 | 486,613 | 337,502 | ||||||||||||
| Mortgage servicing rights | 64,850 | 65,271 | 65,466 | 64,539 | 72,902 | ||||||||||||
| Other assets | 582,310 | 480,178 | 460,172 | 457,056 | 298,428 | ||||||||||||
| Total assets | $ | 27,107,274 | $ | 26,751,426 | $ | 26,726,165 | $ | 26,624,975 | $ | 18,271,381 | |||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||
| Liabilities | |||||||||||||||||
| Deposits: | |||||||||||||||||
| Noninterest-bearing | $ | 5,183,426 | $ | 5,043,960 | $ | 5,238,431 | $ | 5,356,153 | $ | 3,541,375 | |||||||
| Interest-bearing | 16,916,058 | 16,429,110 | 16,186,124 | 16,226,484 | 11,230,720 | ||||||||||||
| Total deposits | 22,099,484 | 21,473,070 | 21,424,555 | 21,582,637 | 14,772,095 | ||||||||||||
| Short-term borrowings | 305,863 | 555,774 | 606,063 | 405,349 | 108,015 | ||||||||||||
| Long-term debt | 500,342 | 499,756 | 558,878 | 556,976 | 433,309 | ||||||||||||
| Other liabilities | 334,667 | 337,921 | 310,891 | 301,159 | 230,857 | ||||||||||||
| Total liabilities | 23,240,356 | 22,866,521 | 22,900,387 | 22,846,121 | 15,544,276 | ||||||||||||
Shareholders’ equity: | |||||||||||||||||
| Common stock | 488,612 | 488,612 | 488,612 | 488,612 | 332,421 | ||||||||||||
| Treasury stock | (173,835) | (103,494) | (90,297) | (90,248) | (91,646) | ||||||||||||
| Additional paid-in capital | 2,388,649 | 2,392,997 | 2,389,033 | 2,393,566 | 1,486,849 | ||||||||||||
| Retained earnings | 1,263,116 | 1,196,522 | 1,139,600 | 1,100,965 | 1,121,102 | ||||||||||||
| Accumulated other comprehensive loss | (99,624) | (89,732) | (101,170) | (114,041) | (121,621) | ||||||||||||
Total shareholders’ equity | 3,866,918 | 3,884,905 | 3,825,778 | 3,778,854 | 2,727,105 | ||||||||||||
Total liabilities and shareholders’ equity | $ | 27,107,274 | $ | 26,751,426 | $ | 26,726,165 | $ | 26,624,975 | $ | 18,271,381 | |||||||
7
Net Interest Income and Net Interest Margin
| (Dollars in thousands) | Three Months Ended | ||||||||||||||||||||||||||||
| March 31, 2026 | December 31, 2025 | March 31, 2025 | |||||||||||||||||||||||||||
| 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 | $ | 19,035,115 | $ | 299,125 | 6.37 | % | $ | 19,041,103 | $ | 309,667 | 6.45 | % | $ | 12,966,869 | $ | 199,504 | 6.24 | % | |||||||||||
| Loans held for sale | 211,507 | 2,876 | 5.44 | % | 254,086 | 3,617 | 5.70 | % | 200,917 | 3,008 | 5.99 | % | |||||||||||||||||
| Taxable securities | 3,380,880 | 28,861 | 3.41 | % | 3,237,156 | 27,122 | 3.35 | % | 1,883,535 | 10,971 | 2.33 | % | |||||||||||||||||
| Tax-exempt securities | 432,789 | 4,542 | 4.20 | % | 433,556 | 4,015 | 3.70 | % | 259,800 | 1,443 | 2.22 | % | |||||||||||||||||
| Total securities | 3,813,669 | 33,403 | 3.50 | % | 3,670,712 | 31,137 | 3.39 | % | 2,143,335 | 12,414 | 2.32 | % | |||||||||||||||||
| Interest-bearing balances with banks | 823,706 | 7,581 | 3.73 | % | 784,455 | 7,480 | 3.78 | % | 824,743 | 8,639 | 4.25 | % | |||||||||||||||||
| Total interest-earning assets | 23,883,997 | 342,985 | 5.81 | % | 23,750,356 | 351,901 | 5.89 | % | 16,135,864 | 223,565 | 5.61 | % | |||||||||||||||||
| Cash and due from banks | 290,611 | 287,137 | 181,869 | ||||||||||||||||||||||||||
| Intangible assets | 1,548,244 | 1,563,189 | 1,002,511 | ||||||||||||||||||||||||||
| Other assets | 1,132,508 | 1,092,857 | 669,392 | ||||||||||||||||||||||||||
| Total assets | $ | 26,855,360 | $ | 26,693,539 | $ | 17,989,636 | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||
Interest-bearing demand(1) | $ | 11,741,333 | $ | 72,025 | 2.49 | % | $ | 11,428,429 | $ | 74,782 | 2.60 | % | $ | 7,835,617 | $ | 54,710 | 2.83 | % | |||||||||||
| Savings deposits | 1,289,327 | 876 | 0.28 | % | 1,275,274 | 874 | 0.27 | % | 813,451 | 711 | 0.35 | % | |||||||||||||||||
| Time deposits | 3,583,946 | 30,959 | 3.50 | % | 3,439,216 | 30,017 | 3.46 | % | 2,474,218 | 23,965 | 3.93 | % | |||||||||||||||||
| Total interest-bearing deposits | 16,614,606 | 103,860 | 2.54 | % | 16,142,919 | 105,673 | 2.60 | % | 11,123,286 | 79,386 | 2.89 | % | |||||||||||||||||
| Borrowed funds | 973,114 | 10,701 | 4.44 | % | 1,242,124 | 13,867 | 4.44 | % | 556,734 | 6,747 | 4.88 | % | |||||||||||||||||
| Total interest-bearing liabilities | 17,587,720 | 114,561 | 2.64 | % | 17,385,043 | 119,540 | 2.73 | % | 11,680,020 | 86,133 | 2.99 | % | |||||||||||||||||
| Noninterest-bearing deposits | 5,088,817 | 5,183,691 | 3,408,830 | ||||||||||||||||||||||||||
| Other liabilities | 290,242 | 275,014 | 208,105 | ||||||||||||||||||||||||||
| Shareholders’ equity | 3,888,581 | 3,849,791 | 2,692,681 | ||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 26,855,360 | $ | 26,693,539 | $ | 17,989,636 | |||||||||||||||||||||||
| Net interest income/ net interest margin | $ | 228,424 | 3.87 | % | $ | 232,361 | 3.89 | % | $ | 137,432 | 3.45 | % | |||||||||||||||||
| Cost of funding | 2.05 | % | 2.10 | % | 2.31 | % | |||||||||||||||||||||||
| Cost of total deposits | 1.94 | % | 1.97 | % | 2.22 | % | |||||||||||||||||||||||
(1) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.
8
Loan Portfolio
| (Dollars in thousands) | As of | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Loan Portfolio: | |||||||||||||||||
| Real estate - 1-4 family mortgage | $ | 4,584,118 | $ | 4,635,033 | $ | 4,642,657 | $ | 4,648,443 | $ | 3,457,192 | |||||||
| Construction and Land Development | 1,898,629 | 1,905,636 | 1,990,657 | 1,795,197 | 1,325,547 | ||||||||||||
| Commercial Real Estate - Non-Owner Occupied | 6,135,543 | 6,245,480 | 6,120,677 | 5,953,135 | 4,262,147 | ||||||||||||
| Commercial Real Estate - Owner Occupied | 3,357,965 | 3,334,664 | 3,321,186 | 3,288,005 | 1,949,177 | ||||||||||||
| Commercial and Industrial | 2,895,477 | 2,818,326 | 2,834,669 | 2,756,491 | 1,973,991 | ||||||||||||
| Consumer | 103,516 | 107,900 | 115,675 | 122,176 | 87,539 | ||||||||||||
| Total loans | $ | 18,975,248 | $ | 19,047,039 | $ | 19,025,521 | $ | 18,563,447 | $ | 13,055,593 | |||||||
Credit Quality and Allowance for Credit Losses on Loans
| (Dollars in thousands) | As of | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
| Nonperforming Assets: | |||||||||||||||||
| Nonaccruing loans | $ | 197,515 | $ | 175,730 | $ | 170,756 | $ | 137,999 | $ | 98,638 | |||||||
| Loans 90 days or more past due | 2,779 | 288 | 792 | 3,860 | 95 | ||||||||||||
| Total nonperforming loans | 200,294 | 176,018 | 171,548 | 141,859 | 98,733 | ||||||||||||
| Other real estate owned | 12,954 | 15,191 | 10,578 | 11,750 | 8,654 | ||||||||||||
| Total nonperforming assets | $ | 213,248 | $ | 191,209 | $ | 182,126 | $ | 153,609 | $ | 107,387 | |||||||
| Criticized Loans | |||||||||||||||||
| Classified loans | $ | 349,068 | $ | 359,235 | $ | 392,721 | $ | 333,626 | $ | 224,654 | |||||||
| Special Mention loans | 176,345 | 201,428 | 219,792 | 159,931 | 95,778 | ||||||||||||
| Criticized loans | $ | 525,413 | $ | 560,663 | $ | 612,513 | $ | 493,557 | $ | 320,432 | |||||||
| Allowance for credit losses on loans | $ | 295,862 | $ | 293,955 | $ | 297,591 | $ | 290,770 | $ | 203,931 | |||||||
| Net loan charge-offs (recoveries) | $ | 2,317 | $ | 9,109 | $ | 4,339 | $ | 12,054 | $ | (125) | |||||||
| Annualized net loan charge-offs / average loans | 0.05 | % | 0.19 | % | 0.09 | % | 0.26 | % | — | % | |||||||
| Nonperforming loans / total loans | 1.06 | 0.92 | 0.90 | 0.76 | 0.76 | ||||||||||||
| Nonperforming assets / total assets | 0.79 | 0.71 | 0.68 | 0.58 | 0.59 | ||||||||||||
| Allowance for credit losses on loans / total loans | 1.56 | 1.54 | 1.56 | 1.57 | 1.56 | ||||||||||||
| Allowance for credit losses on loans / nonperforming loans | 147.71 | 167.00 | 173.47 | 204.97 | 206.55 | ||||||||||||
| Criticized loans / total loans | 2.77 | 2.94 | 3.22 | 2.66 | 2.45 | ||||||||||||
9
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, April 29, 2026.
The webcast is accessible through Renasant’s investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=SgFaqN4L. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2026 First 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 1-855-669-9658 in the United States and entering conference number 8054019 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until May 13, 2026.
ABOUT RENASANT CORPORATION:
Renasant Corporation is the parent of Renasant Bank, a 122-year-old financial services institution. Renasant has assets of approximately $27.1 billion and operates 282 banking, lending, mortgage and wealth management offices throughout the Southeast and also offers 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,” or 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, 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; (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) our ability to remediate the material weakness in the Company’s internal control over financial reporting identified in the Company’s most recent Annual Report on Form 10-K; (vi) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vii) the financial resources of, and products available from, competitors; (viii) changes in laws and regulations as well as changes in accounting standards; (ix) changes in governmental and regulatory policy, whether applicable specifically to financial institutions or impacting the United States generally (such as, for example, changes in trade policy); (x) changes in the securities and foreign exchange markets; (xi) the Company’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xii) 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; (xiii) an insufficient allowance for credit losses as a result of inaccurate assumptions; (xiv) changes in the sources
10
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; (xv) general economic, market or business conditions, including the impact of inflation; (xvi) changes in demand for loan and deposit products and other financial services; (xvii) concentrations of credit or deposit exposure; (xviii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xix) losses resulting from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting our customers, employees and third party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including as a result of sophisticated attacks using artificial intelligence (“AI”) and similar tools; (xxi) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxii) geopolitical conditions, including acts or threats of terrorism and 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; (xxiii) the impact, extent and timing of technological changes, including the rapid development of AI technologies; and (xxiv) 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 revenue and 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)), (ix) adjusted noninterest expense, and (x) 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 first quarter of 2026, gains on sales 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.
11
Non-GAAP Reconciliations
| (Dollars in thousands, except per share data) | Three Months Ended | ||||||||||||||||
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | |||||||||||||
Adjusted Pre-Provision Net Revenue (“PPNR”) | |||||||||||||||||
| Net income (GAAP) | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 1,018 | $ | 41,518 | |||||||
| Income taxes | 22,195 | 17,885 | 15,478 | 1,649 | 10,448 | ||||||||||||
| Provision for credit losses (including unfunded commitments) | 8,080 | 10,935 | 10,450 | 81,322 | 4,750 | ||||||||||||
| Pre-provision net revenue (non-GAAP) | $ | 118,503 | $ | 107,768 | $ | 85,716 | $ | 83,989 | $ | 56,716 | |||||||
| Merger and conversion related expenses | — | 10,567 | 17,494 | 20,479 | 791 | ||||||||||||
| Gain on sales of MSR | (209) | — | — | (1,467) | — | ||||||||||||
| Adjusted pre-provision net revenue (non-GAAP) | $ | 118,294 | $ | 118,335 | $ | 103,210 | $ | 103,001 | $ | 57,507 | |||||||
| Adjusted Net Income and Adjusted Tangible Net Income | |||||||||||||||||
| Net income (GAAP) | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 1,018 | $ | 41,518 | |||||||
| Amortization of intangibles | 8,220 | 8,465 | 8,674 | 8,884 | 1,080 | ||||||||||||
Tax effect of adjustments noted above(1) | (2,047) | (2,112) | (2,164) | (2,212) | (270) | ||||||||||||
| Tangible net income (non-GAAP) | $ | 94,401 | $ | 85,301 | $ | 66,298 | $ | 7,690 | $ | 42,328 | |||||||
| Net income (GAAP) | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 1,018 | $ | 41,518 | |||||||
| Merger and conversion related expenses | — | 10,567 | 17,494 | 20,479 | 791 | ||||||||||||
| Day 1 acquisition provision for loan losses | — | — | — | 62,190 | — | ||||||||||||
| Day 1 acquisition provision for unfunded commitments | — | — | — | 4,422 | — | ||||||||||||
| Gain on sales of MSR | (209) | — | — | (1,467) | — | ||||||||||||
Tax effect of adjustments noted above(1) | 52 | (2,636) | (4,365) | (20,765) | (198) | ||||||||||||
| Adjusted net income (non-GAAP) | $ | 88,071 | $ | 86,879 | $ | 72,917 | $ | 65,877 | $ | 42,111 | |||||||
| Amortization of intangibles | 8,220 | 8,465 | 8,674 | 8,884 | 1,080 | ||||||||||||
Tax effect of adjustments noted above(1) | (2,047) | (2,112) | (2,164) | (2,212) | (270) | ||||||||||||
| Adjusted tangible net income (non-GAAP) | $ | 94,244 | $ | 93,232 | $ | 79,427 | $ | 72,549 | $ | 42,921 | |||||||
Tangible Assets and Tangible Shareholders’ Equity | |||||||||||||||||
Average shareholders’ equity (GAAP) | $ | 3,888,581 | $ | 3,849,791 | $ | 3,794,996 | $ | 3,745,051 | $ | 2,692,681 | |||||||
| Average intangible assets | (1,548,244) | (1,563,189) | (1,578,846) | (1,589,490) | (1,002,511) | ||||||||||||
Average tangible shareholders’ equity (non-GAAP) | $ | 2,340,337 | $ | 2,286,602 | $ | 2,216,150 | $ | 2,155,561 | $ | 1,690,170 | |||||||
| Average assets (GAAP) | $ | 26,855,360 | $ | 26,693,539 | $ | 26,456,596 | $ | 26,182,865 | $ | 17,989,636 | |||||||
| Average intangible assets | (1,548,244) | (1,563,189) | (1,578,846) | (1,589,490) | (1,002,511) | ||||||||||||
| Average tangible assets (non-GAAP) | $ | 25,307,116 | $ | 25,130,350 | $ | 24,877,750 | $ | 24,593,375 | $ | 16,987,125 | |||||||
12
Shareholders’ equity (GAAP) | $ | 3,866,918 | $ | 3,884,905 | $ | 3,825,778 | $ | 3,778,854 | $ | 2,727,105 | |||||||
| Intangible assets | (1,545,059) | (1,552,452) | (1,566,788) | (1,583,533) | (1,001,923) | ||||||||||||
Tangible shareholders’ equity (non-GAAP) | $ | 2,321,859 | $ | 2,332,453 | $ | 2,258,990 | $ | 2,195,321 | $ | 1,725,182 | |||||||
| Total assets (GAAP) | $ | 27,107,274 | $ | 26,751,426 | $ | 26,726,165 | $ | 26,624,975 | $ | 18,271,381 | |||||||
| Intangible assets | (1,545,059) | (1,552,452) | (1,566,788) | (1,583,533) | (1,001,923) | ||||||||||||
| Total tangible assets (non-GAAP) | $ | 25,562,215 | $ | 25,198,974 | $ | 25,159,377 | $ | 25,041,442 | $ | 17,269,458 | |||||||
| Adjusted Performance Ratios | |||||||||||||||||
| Return on average assets (GAAP) | 1.33 | % | 1.17 | % | 0.90 | % | 0.02 | % | 0.94 | % | |||||||
| Adjusted return on average assets (non-GAAP) | 1.33 | 1.29 | 1.09 | 1.01 | 0.95 | ||||||||||||
| Return on average tangible assets (non-GAAP) | 1.51 | 1.35 | 1.06 | 0.13 | 1.01 | ||||||||||||
| Pre-provision net revenue to average assets (non-GAAP) | 1.79 | 1.60 | 1.29 | 1.29 | 1.28 | ||||||||||||
| Adjusted pre-provision net revenue to average assets (non-GAAP) | 1.79 | 1.76 | 1.55 | 1.58 | 1.30 | ||||||||||||
| Adjusted return on average tangible assets (non-GAAP) | 1.51 | 1.47 | 1.27 | 1.18 | 1.02 | ||||||||||||
| Return on average equity (GAAP) | 9.20 | 8.14 | 6.25 | 0.11 | 6.25 | ||||||||||||
| Adjusted return on average equity (non-GAAP) | 9.19 | 8.95 | 7.62 | 7.06 | 6.34 | ||||||||||||
| Return on average tangible equity (non-GAAP) | 16.36 | 14.80 | 11.87 | 1.43 | 10.16 | ||||||||||||
| Adjusted return on average tangible equity (non-GAAP) | 16.33 | 16.18 | 14.22 | 13.50 | 10.30 | ||||||||||||
| Adjusted Diluted Earnings Per Share | |||||||||||||||||
| Average diluted shares outstanding | 94,228,343 | 95,172,380 | 95,284,603 | 95,136,160 | 64,028,025 | ||||||||||||
| Diluted earnings per share (GAAP) | $ | 0.94 | $ | 0.83 | $ | 0.63 | $ | 0.01 | $ | 0.65 | |||||||
| Adjusted diluted earnings per share (non-GAAP) | $ | 0.93 | $ | 0.91 | $ | 0.77 | $ | 0.69 | $ | 0.66 | |||||||
| Tangible Book Value Per Share | |||||||||||||||||
| Shares outstanding | 92,881,329 | 94,636,207 | 95,020,881 | 95,019,311 | 63,739,467 | ||||||||||||
| Book value per share (GAAP) | $ | 41.63 | $ | 41.05 | $ | 40.26 | $ | 39.77 | $ | 42.79 | |||||||
| Tangible book value per share (non-GAAP) | $ | 25.00 | $ | 24.65 | $ | 23.77 | $ | 23.10 | $ | 27.07 | |||||||
| Tangible Common Equity Ratio | |||||||||||||||||
| Shareholders’ equity to assets (GAAP) | 14.27 | % | 14.52 | % | 14.31 | % | 14.19 | % | 14.93 | % | |||||||
| Tangible common equity ratio (non-GAAP) | 9.08 | % | 9.26 | % | 8.98 | % | 8.77 | % | 9.99 | % | |||||||
| Adjusted Efficiency Ratio | |||||||||||||||||
| Net interest income (FTE) (GAAP) | $ | 228,424 | $ | 232,361 | $ | 228,131 | $ | 222,717 | $ | 137,432 | |||||||
13
| Total noninterest income (GAAP) | $ | 50,272 | $ | 51,125 | $ | 46,026 | $ | 48,334 | $ | 36,395 | |||||||
| Gain on sales of MSR | (209) | — | — | (1,467) | — | ||||||||||||
| Total adjusted noninterest income (non-GAAP) | $ | 50,063 | $ | 51,125 | $ | 46,026 | $ | 46,867 | $ | 36,395 | |||||||
| Noninterest expense (GAAP) | $ | 155,328 | $ | 170,750 | $ | 183,830 | $ | 183,204 | $ | 113,876 | |||||||
| Amortization of intangibles | (8,220) | (8,465) | (8,674) | (8,884) | (1,080) | ||||||||||||
| Merger and conversion expense | — | (10,567) | (17,494) | (20,479) | (791) | ||||||||||||
| Total adjusted noninterest expense (non-GAAP) | $ | 147,108 | $ | 151,718 | $ | 157,662 | $ | 153,841 | $ | 112,005 | |||||||
| Efficiency ratio (GAAP) | 55.73 | % | 60.23 | % | 67.05 | % | 67.59 | % | 65.51 | % | |||||||
| Adjusted efficiency ratio (non-GAAP) | 52.82 | % | 53.52 | % | 57.51 | % | 57.07 | % | 64.43 | % | |||||||
| Adjusted Net Revenue | |||||||||||||||||
| Net interest income (FTE) (GAAP) | $ | 228,424 | $ | 232,361 | $ | 228,131 | $ | 222,717 | $ | 137,432 | |||||||
| Total adjusted noninterest income (non-GAAP) | 50,063 | 51,125 | 46,026 | 46,867 | 36,395 | ||||||||||||
| Adjusted net revenue (non-GAAP) | $ | 278,487 | $ | 283,486 | $ | 274,157 | $ | 269,584 | $ | 173,827 | |||||||
| Adjusted Net Interest Income and Adjusted Net Interest Margin | |||||||||||||||||
| Net interest income (FTE) (GAAP) | $ | 228,424 | $ | 232,361 | $ | 228,131 | $ | 222,717 | $ | 137,432 | |||||||
| Net interest income collected on problem loans | (210) | (2,767) | (664) | (2,779) | (1,026) | ||||||||||||
| Accretion recognized on purchased loans | (15,248) | (13,632) | (16,862) | (17,834) | (558) | ||||||||||||
| Amortization recognized on purchased time deposits | — | — | 2,995 | 4,396 | — | ||||||||||||
| Amortization recognized on purchased long term borrowings | 336 | 335 | 837 | 1,072 | — | ||||||||||||
| Adjustments to net interest income | $ | (15,122) | $ | (16,064) | $ | (13,694) | $ | (15,145) | $ | (1,584) | |||||||
| Adjusted net interest income (FTE) (non-GAAP) | $ | 213,302 | $ | 216,297 | $ | 214,437 | $ | 207,572 | $ | 135,848 | |||||||
| Net interest margin (GAAP) | 3.87 | % | 3.89 | % | 3.85 | % | 3.85 | % | 3.45 | % | |||||||
| Adjusted net interest margin (non-GAAP) | 3.61 | % | 3.62 | % | 3.62 | % | 3.58 | % | 3.42 | % | |||||||
| Adjusted Loan Yield | |||||||||||||||||
| Loan interest income (FTE) (GAAP) | $ | 299,125 | $ | 309,667 | $ | 311,903 | $ | 304,834 | $ | 199,504 | |||||||
| Net interest income collected on problem loans | (210) | (2,767) | (664) | (2,779) | (1,026) | ||||||||||||
| Accretion recognized on purchased loans | (15,248) | (13,632) | (16,862) | (17,834) | (558) | ||||||||||||
| Adjusted loan interest income (FTE) (non-GAAP) | $ | 283,667 | $ | 293,268 | $ | 294,377 | $ | 284,221 | $ | 197,920 | |||||||
| Loan yield (GAAP) | 6.37 | % | 6.45 | % | 6.60 | % | 6.63 | % | 6.24 | % | |||||||
| Adjusted loan yield (non-GAAP) | 6.04 | % | 6.11 | % | 6.23 | % | 6.18 | % | 6.19 | % | |||||||
(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.
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14
First Quarter 2026 Earnings Call
Forward-Looking Statements This presentation may contain various statements about Renasant Corporation (“Renasant,” the “Company,” “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,” or 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 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, 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; (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) our ability to remediate the material weakness in the Company’s internal control over financial reporting identified in the Company’s most recent Annual Report on Form 10-K; (vi) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vii) the financial resources of, and products available from, competitors; (viii) changes in laws and regulations as well as changes in accounting standards; (ix) changes in governmental and regulatory policy, whether applicable specifically to financial institutions or impacting the United States generally (such as, for example, changes in trade policy); (x) changes in the securities and foreign exchange markets; (xi) the Company’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xii) 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; (xiii) an insufficient allowance for credit losses as a result of inaccurate assumptions; (xiv) 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; (xv) general economic, market or business conditions, including the impact of inflation; (xvi) changes in demand for loan and deposit products and other financial services; (xvii) concentrations of credit or deposit exposure; (xviii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xix) losses resulting from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting our customers, employees and third party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including as a result of sophisticated attacks using artificial intelligence (“AI”) and similar tools; (xxi) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxii) geopolitical conditions, including acts or threats of terrorism and 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; (xxiii) the impact, extent and timing of technological changes, including the rapid development of AI technologies; and (xxiv) 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. 2
Assets: $27.1 billion Loans: 19.0 Deposits: 22.1 Equity: 3.9 Loans TN 11% MS 25% AL 22% FL 12% LA 4% GA 26% Deposits TN 8% MS 40% AL 14% FL 7% LA 3% GA 28% * 3 Overview * Republic Business Credit operates on a nationwide basis. Locations in California, Illinois and Texas are not shown. Snapshot Footprint Loans and Deposits by State(1) Note: As of March 31, 2026 (1) As determined by the office or branch of origination
First Quarter Highlights • Net income was $88.2 million with diluted EPS of $0.94 and adjusted diluted EPS (non- GAAP)(1) of $0.93 • Net interest margin was 3.87%, down 2 basis points linked quarter; adjusted net interest margin (non-GAAP)(1) decreased 1 basis point linked quarter to 3.61% • Return on assets was 1.33% for the first quarter of 2026, up from 0.94% in the first quarter of 2025 • Return on average equity for the first quarter of 2026 was 9.20%, up from 6.25% in the first quarter of 2025; return on average tangible common equity (non-GAAP)(1) was 16.36% for the first quarter of 2026, up from 10.16% in the first quarter of 2025 • Loans decreased $71.8 million, or 1.5% annualized • Deposits increased $626.4 million linked quarter. Seasonal increases in public fund deposits contributed $380.4 million to the overall increase. Noninterest bearing deposits increased $139.5 million linked quarter; noninterest-bearing deposits represented 23.5% of total deposits at March 31, 2026 • Loan yield decreased 8 basis points; adjusted loan yield (non-GAAP)(1) decreased 7 basis points • Cost of total deposits decreased 3 basis points to 1.94% • The ratio of the allowance for credit losses on loans to total loans increased 2 basis points to 1.56% linked quarter • Net loan charge-offs for the first quarter of 2026 were $2.3 million, or 0.05% annualized, down $6.8 million linked quarter • Nonperforming loans represented 1.06% of total loans, an increase of 14 basis points, and criticized loans to total loans decreased 17 basis points to 2.77% linked quarter (1) Adjusted diluted EPS, Adjusted net interest margin, Adjusted loan yield, Adjusted ROAA, ROATCE, Adjusted ROATCE 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 Net Income $88.2 million Diluted EPS 0.94 Adjusted Diluted EPS (non-GAAP)(1) 0.93 Net Interest Margin 3.87 % Adjusted Net Interest Margin (non- GAAP)(1) 3.61 Return on Average Assets (“ROAA”) 1.33 Adjusted ROAA (non-GAAP)(1) 1.33 Return on Average Tangible Common Equity (“ROATCE”) (non-GAAP)(1) 16.36 Adjusted ROATCE (non-GAAP)(1) 16.33 Efficiency Ratio 55.73 Adjusted Efficiency Ratio (non-GAAP)(1) 52.82
$18,271 $26,625 $26,726 $26,751 $27,107 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $13,056 $18,563 $19,026 $19,047 $18,975 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $14,772 $21,583 $21,425 $21,473 $22,099 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Note: Dollars in millions $2,727 $3,779 $3,826 $3,885 $3,867 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 5 Balance Sheet Assets Loans Deposits Equity
Note: Dollars in thousands (1) Includes money market deposits Composition Quarter Highlights 6 $22,099,484 $21,473,070 $21,424,555 $21,582,637 $14,772,095 Noninterest-bearing Interest-bearing (1) Savings Time 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Deposit Funding • Deposit growth of $626.4 million in 1Q 2026 represents 11.5% annualized growth • Noninterest-bearing deposits: 23.5% of total deposits • Average deposit account balance: $38 thousand • Commercial average account balance*: $89 thousand • Consumer average account balance*: $15 thousand • Top 20 depositors: 4.7% of total deposits* Customer Mix 44% 44% 44% 50% 48% 37% 38% 39% 31% 35% 19% 18% 17% 19% 17% Consumer Commercial Public Funds 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 * Excludes time deposits and public fund deposits 2.22% 2.12% 2.14% 1.97% 1.94% 2.89% 2.82% 2.83% 2.60% 2.54% Total cost of deposits Cost of total interest-bearing deposits 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Cost of Deposits
Cash and Securities to Total Assets Loans to Deposits Average Interest Earning Asset Mix (1Q 2026) 17.5% 18.5% 17.4% 17.4% 18.6% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 88% 86% 89% 89% 86% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 80% 1% 16% 3% Loans Held for Investment Loans Held for Sale Securities Interest Bearing Balances With Banks 7 Liquidity Position
14.93% 14.19% 14.31% 14.52% 14.27% 9.99% 8.77% 8.98% 9.26% 9.08% Shareholders' equity to assets Tangible common equity ratio (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 12.59% 11.08% 11.04% 11.24% 11.22% 16.89% 14.97% 14.88% 14.78% 14.77% Common equity tier 1 capital ratio Total risk-based capital ratio 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Quarter Highlights • During the first quarter of 2026, the Company repurchased $75.0 million of common stock at a weighted average price of $39.53. In April, an additional $25.0 million was repurchased at a weighted average price of $38.36 • Effective April 28, 2026, the Company’s Board of Directors approved a quarterly cash dividend of $0.24 per share to be paid June 30, 2026, to shareholders of record as of June 16, 2026. This represents a $0.01 increase from the dividend paid in the previous quarter • Effective April 28, 2026, the Company’s Board of Directors increased the amount authorized for repurchase under the Company's stock repurchase program by $100.0 million * 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”. $42.79 $39.77 $40.26 $41.05 $41.63 $27.07 $23.10 $23.77 $24.65 $25.00 Book Value Tangible Book Value (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 8 Capital Equity to Assets / Tangible Common Equity Ratio (non-GAAP)* Common Equity Tier 1 Ratio / Total Risk-based Capital Ratio Book Value / Tangible Book Value (non-GAAP)*
Loan Movement $19,047 $(51) $(7) $(110) $23 $77 $(4) $18,975 Q 4 2025 RE-1-4 Fam ily C&LD NO O CRE O O CRE C&I Consum er Q 1 2026 Quarter Highlights • Loans decreased $71.8 million linked quarter • Average loan balance: $317 thousand 24% 10% 32% 18% 15% 1% Real estate - 1-4 Family Mortgage Construction and Land Development Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Owner Occupied Commercial and Industrial Consumer Loan Composition 9Note: Dollars in millions
$645 $805 $950 $914 $609$551 $730 $757 $806 $827 Production Advances 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $557 $657 $587 $876 $813 $468 $567 $657 $706 $695 Payoffs Paydowns 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $19,047 $609 $827 $(813) $(695) $18,975 4Q 2025 Production Advances Payoffs Paydowns 1Q 2026 Loan Activity 10 Note: Dollars in millions Loan Movement Production & Advance Trends Payoff & Paydown Trends
11 $203,931 $290,770 $297,591 $293,955 $295,862 1.56% 1.57% 1.56% 1.54% 1.56% —% 0.26% 0.09% 0.19% 0.05% ACL ACL/Loans Net Charge-offs / Average Loans 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $320,432 $493,557 $612,513 $560,663 $525,413 2.45% 2.66% 3.22% 2.94% 2.77% Criticized loans Criticized loans / total loans 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Asset Quality Criticized Loans* *Dollars in thousands Allowance for Credit Losses & Net Charge-offs* 0.31% 0.25% 0.26% 0.47% 0.36% Loans 30-89 Past Due / Total Loans 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Loans 30-89 Days Past DueQuarter Highlights • Over the last four quarters, the Company resolved $135 million in non-performing loans with aggregate net charge-offs of $27.8 million • Average NPL balance: $348,337 • 96% of accruing criticized loans are current • Average criticized loan balance: $512,098
0.59% 0.58% 0.68% 0.71% 0.79% 0.76% 0.76% 0.90% 0.92% 1.06% NPAs/Total Assets NPLs/Total Loans 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 12 $61,311 $12,323 $49,930 $29,433 $47,093 $204 Real Estate 1-4 Family Mortgage Construction and Land Development Commercial Real Estate - Non- Owner Occupied Commercial Real Estate - Owner-Occupied Commercial and Industrial Consumer NPLs by Loan Category Asset Quality (cont.) Nonperforming Loans & Nonperforming Assets $98,733 $141,859 $171,548 $176,018 $200,294 207% 205% 173% 167% 148% Nonperforming Loans Allowance/Nonperforming Loans 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Nonperforming Loans Note: Dollars in thousands
$0.65 $0.01 $0.63 $0.83 $0.94 $0.66 $0.69 $0.77 $0.91 $0.93 Diluted EPS (GAAP) Adjusted Diluted EPS (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $137.4 $222.7 $228.1 $232.4 $228.4 $135.8 $207.6 $214.4 $216.3 $213.3 Net interest income (FTE) Adjusted net interest income (FTE) (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 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”. $56.7 $84.0 $85.7 $107.8 $118.5 $57.5 $103.0 $103.2 $118.3 $118.3 PPNR (non-GAAP)* Adjusted PPNR (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $41.5 $1.0 $59.8 $78.9 $88.2 $42.1 $65.9 $72.9 $86.9 $88.1 Net Income Adjusted Net Income (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 13 Profitability Diluted EPS / Adjusted Diluted EPS (non-GAAP)* Net Income / Adjusted Net Income (non-GAAP)* PPNR (non-GAAP)* / Adjusted PPNR (Non-GAAP)*Net Interest Income (FTE) / Adjusted Net Interest Income (FTE) (Non-GAAP)*
*Adjusted ROAA, Adjusted ROTCE, PPNR/Average Assets and Adjusted PPNR/Average Assets 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”. 0.94% 0.02% 0.90% 1.17% 1.33%0.95% 1.01% 1.09% 1.29% 1.33% ROAA (GAAP) ROAA (Adjusted) (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 6.25% 0.11% 6.25% 8.14% 9.20% 10.30% 13.50% 14.22% 16.18% 16.33% ROAE (GAAP) ROTCE (Adjusted) (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 1.28% 1.29% 1.29% 1.60% 1.79% 1.30% 1.58% 1.55% 1.76% 1.79% PPNR/Average Assets (non-GAAP)* Adjusted PPNR/Average Assets (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 14 Profitability Ratios ROAA / Adjusted ROAA (non-GAAP)* ROAE / Adjusted ROTCE (non-GAAP)* PPNR (non-GAAP)* / Adjusted PPNR Ratios (non-GAAP)*
3.45% 3.85% 3.85% 3.89% 3.87% 3.42% 3.58% 3.62% 3.62% 3.61% Net Interest Margin Adjusted Net Interest Margin (FTE)(non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 *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”. 6.24% 6.63% 6.60% 6.45% 6.37% 6.19% 6.18% 6.23% 6.11% 6.04% Loan yield Adjusted Loan Yield (non-GAAP)* 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 • Scheduled accretion and accelerated accretion recognized on acquired loans were $11.2 million and $4.0 million, respectively, for the first quarter of 2026, which included scheduled credit accretion and accelerated credit accretion of $4.0 million and $1.5 million, respectively 15 Net Interest Margin (FTE) and Loan Yield Net Interest Margin (FTE) / Adjusted Net Interest Margin (FTE)(non-GAAP)* Loan Yield / Adjusted Loan Yield (non-GAAP)* Adjusted Net Interest Margin (FTE)(non-GAAP)* Bridge Accretion 3.62 (0.08) 0.02 0.05 3.61 4Q2025 Loans Other Earning Assets IB Liabilities 1Q2026
• Noninterest income decreased $0.8 million linked quarter • The decline in noninterest income is primarily related to Q4 2025 results being impacted by a one-time gain of $2.0 million resulting from the exit of low-income housing tax credit partnerships. The absence of this gain in Q1 2026 results was partially offset by strong performance on SBA loan sales 16 $50,272 $51,125 $46,026 $48,334 $36,395 Service charges Fees and commissions Wealth management Mortgage banking BOLI Other 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Noninterest Income Composition Quarter Highlights Note: Dollars in thousands
• Noninterest expense decreased $15.4 million linked quarter, which includes a decrease of $10.6 million in merger and conversion related expenses linked quarter • The Company continued to realize cost savings from the integration with The First 17 Quarter Highlights 64.43% 57.07% 57.51% 53.52% 52.82% 65.51% 67.59% 67.05% 60.23% 55.73% Efficiency Ratio Adjusted efficiency ratio (non-GAAP) * 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 $155,328 $170,750 $183,830 $183,204 $113,876 Salaries and employee benefits Data processing Net occupancy and equipment Advertising and public relations Merger and conversion expenses Intangible amortization Other 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Noninterest Expense Efficiency Ratio Composition Note: Dollars in thousands * Adjusted Efficiency Ratio 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”.
$153,841 $147,108 Adjusted noninterest expense (non-GAAP)* 2Q 2025 1Q 2026 Efficiency Improvements 3.3% increase in adjusted net revenue since Q2 2025 $269,584 $278,487 Adjusted net revenue (non-GAAP)* 2Q 2025 1Q 2026 4.4% reduction in adjusted noninterest expense since Q2 2025 Continued focus on efficiency gains through both revenue growth and expense management since Q2 2025 has yielded significant improvement in the adjusted efficiency ratio. Note: Dollars in thousands * Adjusted net revenue and Adjusted noninterest expense 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”. 18 Expense ManagementRevenue Growth
Appendix
Repricing Term* Rate Structure Total Loans 3 mos or less 3-12 mos 1-3 years 3-5 years 5-15 years Over 15 years Total Variable Fixed Commercial and Industrial $ 1,814 $ 213 $ 300 $ 367 $ 200 $ 2 $ 2,896 $ 1,860 $ 1,036 Commercial Real Estate - Owner-Occupied 1,284 211 589 736 504 34 3,358 1,430 1,927 Commercial Real Estate - Non-Owner Occupied 3,481 416 1,060 822 348 9 6,136 3,624 2,512 Construction and Land Development 1,396 72 86 185 106 53 1,898 1,470 429 Real Estate 1-4 Family Mortgage 1,016 257 484 545 843 1,439 4,584 2,614 1,970 Consumer 29 15 32 21 6 — 103 18 85 Total $ 9,020 $ 1,184 $ 2,551 $ 2,676 $ 2,007 $ 1,537 $ 18,975 $ 11,016 $ 7,959 Weighted Average Rate - Fixed 5.3 % 5.0 % 5.7 % 6.2 % 4.6 % 5.5 % 5.5 % Weighted Average Rate - Variable 6.5 % 6.1 % 5.4 % 5.7 % 5.5 % 4.8 % 6.3 % % Fixed 5.1 % 72.5 % 83.5 % 81.2 % 65.6 % 66.7 % 41.9 % % Variable 94.9 % 27.5 % 16.5 % 18.8 % 34.4 % 33.3 % 58.1 % Note: Dollars in millions *Based on maturity date for fixed rate loans and variable rate loans that are at their floor or ceiling 20 Loan Repricing and Maturity
Note: As of March 31, 2026 Agency CMO 27% Agency MBS 35% Municipal 14% Agency CMBS 14% SBA 8% Other 2% 21 • Amortized cost of $4.0 billion; GAAP value of $3.8 billion, which represents 14.1% of total assets • Duration of 3.6 years • 27% of portfolio HTM based on par value ◦ 10.3% of HTM are CRA investments ◦ 26.2% of HTM are Municipals • Unrealized losses in AOCI on securities totaled $142.1 million ($106.9 million, net of tax); unrealized losses in AOCI on HTM securities totaled $51.6 million ($38.5 million, net of tax) $4.0 Billion Securities Composition (Amortized Cost) Quarter Highlights
15% 21% 21% 10% 6% 7% 12% 5% 3% Warehouse/Industrial Retail Multi-family Self Storage Medical Office Office (non-medical) Hotel Senior Housing Other Quarter Highlights Note: As of March 31, 2026. LTV is calculated using the most recent appraisal available. % of Loans Avg Loan Size1 32.3% $2.0 million WA LTV 54.8% 0.10% 30-89 Days 0.81% NPLs2 Retail Multi-Family Warehouse/ Industrial Amount $1,309.8 $1,278.6 $932.5 Avg Loan Size1 1.5 2.5 2.5 % of Loans 6.9 6.7 4.9 % Past Due or Nonaccrual 0.35 0.21 0.85 ACL Reserve % 0.87 0.76 1.35 WA LTV % 55.1 53.1 52.6 % Loans<75% LTV 87.2 95.0 97.6 % in Footprint 97.2 99.8 91.7 Q1 Loan Growth (%) (0.5) (8.2) 3.1 (1) Based on commitment amount Note: Dollars in millions 22 Commercial Real Estate - Non-owner Occupied $6.1 Billion Composition
23 Note: As of March 31, 2026; LTV is calculated using the most recent appraisal available. 22% 25% 10% 14% 5% 6% 7% 7%2% 1% 1% 1-4 Family Land & Dev. Commercial Owner-Occupied Multi-family Office Retail Self Storage Warehouse / Industrial Hotels Other Senior Housing Amount $1,898.6 Avg Loan Size1 1.2 % of Loans 10.0 % Past Due or Nonaccrual 0.65 ACL Reserve%2 1.95 WA LTV % 63.2 % Loans<75% LTV 81.5 % in Footprint 99.4 Q1 Loan Growth (%) (0.4) (1) Based on commitment amount (2) Includes reserves for both loans accounted for collectively and those individually evaluated Note: Dollars in millions Construction and Land Development $1.9 Billion Composition Quarter Highlights
Quarterly ACL Changes $293,955 $(2,166) $1,854 $710 $(852) $2,593 $(232) $295,862 4Q 2025 Balance Changes Q-Factor Changes Loss Rates Loan Credit Migration Other Ind. Reviewed Unallocated 1Q 2026 24 Note: Dollars in thousands
25 ($ in thousands) 1Q 2025 4Q 2025 1Q 2026 Gain on sales of loans, net $ 4,500 $ 5,243 $ 5,305 Fees, net 2,317 2,970 2,842 Mortgage servicing income, net 1,330 711 1,288 Mortgage banking income, net $ 8,147 $ 8,924 $ 9,435 (in %) 1Q 2025 4Q 2025 1Q 2026 Wholesale 39 37 42 Retail 61 63 58 Purchase 80 72 67 Refinance 20 28 33 $632.1 $679.6 $590.2 $489.5 $542.3 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 *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 1.42% 1.87% 1.32% 1.99% 1.85% 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 Mortgage Banking Mortgage Banking Income Mix Locked Volume (in millions) Gain on Sale Margin*
FAQ
How did Renasant (RNST) perform financially in Q1 2026?
Renasant earned net income of $88.2 million and diluted EPS of $0.94 in Q1 2026. Return on assets was 1.33% and return on average equity reached 9.20%, indicating stronger profitability compared with the same quarter in 2025.
What did Renasant (RNST) report about its net interest margin and deposit costs?
Net interest margin was 3.87% in Q1 2026, with adjusted margin at 3.61%. The cost of total deposits declined to 1.94%, and total deposits rose $626.4 million quarter over quarter, including higher noninterest-bearing balances.
What changes did Renasant (RNST) make to its dividend in Q1 2026?
The board approved a quarterly cash dividend of $0.24 per share for payment on June 30, 2026. Shareholders of record on June 16, 2026, will receive the dividend, which is an increase of $0.01 from the prior quarterly dividend.
Did Renasant (RNST) increase its stock repurchase authorization?
Yes, the board increased the stock repurchase authorization by $100.0 million effective April 28, 2026. After buying back $75.0 million of stock in Q1 and $25.0 million more in April, approximately $136.8 million in authorization remained available.
How are Renasant’s (RNST) credit quality metrics trending?
Credit quality remained controlled in Q1 2026, with net loan charge-offs of $2.3 million, or 0.05% annualized. Nonperforming loans were 1.06% of total loans, and the allowance for credit losses on loans stood at 1.56% of total loans.
What were Renasant’s (RNST) loan and deposit balances at March 31, 2026?
Loans held for investment totaled $18.98 billion and deposits were $22.10 billion at March 31, 2026. Loans declined modestly linked quarter, while deposits increased $626.4 million, including seasonal growth in public fund deposits.