About Renasant Corporation
Renasant Corporation (NYSE: RNST) is the parent of Renasant Bank, a 122-year-old financial services institution. Renasant has assets of approximately $26.8 billion and operates 283 banking, lending, mortgage and wealth management offices throughout the Southeast and also offers factoring and asset-based lending on a nationwide basis.
Quarterly Highlights – Q4 2025
Earnings Performance
Net income totaled $78.9 million, including $10.6 million in merger and conversion expenses. Diluted EPS was $0.83, while adjusted diluted EPS (non-GAAP) was $0.91. Net interest income (FTE) rose $4.2 million QoQ to $232.4 million. Net interest margin improved to 3.89%, up 4 bps QoQ; adjusted NIM remained flat at 3.62%. Cost of total deposits declined 17 bps QoQ to 1.97%, reflecting improved funding costs.
Noninterest income increased $5.1 million QoQ, aided by $2.0 million from exiting select low-income housing tax credit partnerships. Mortgage banking income was essentially flat; origination volume declined to $489.5 million, while gain-on-sale margin expanded to 1.99%, up 67 bps QoQ. Noninterest expense fell $13.1 million QoQ, driven by lower merger-related costs and $2.1 million in net gains from branch consolidations.
Balance Sheet Trends
Loans increased $21.5 million QoQ (0.4% annualized growth), despite the sale of $117.3 million of non-core acquired loans. Securities grew $26.4 million QoQ, reflecting new purchases and favorable market value adjustments. Deposits increased $48.5 million QoQ, though noninterest-bearing deposits declined and represented 23.5% of total deposits at quarter-end.
Capital & Shareholder Returns
Book value per share and tangible book value per share (non-GAAP) increased 2.0% and 3.7% QoQ, respectively. The Company repurchased $13.2 million of common stock under its $150 million buyback program at an average price of $34.29 per share. $60.0 million of subordinated notes acquired in the merger with The First were redeemed, strengthening the capital structure.
Credit Quality
Provision for credit losses on loans declined to $5.5 million, while the provision on unfunded commitments increased to $5.4 million. Allowance for credit losses stood at 1.54% of total loans, down slightly QoQ. Coverage ratio remained strong at 167%, though modestly lower than the prior quarter. Net charge-offs were $9.1 million, including $2.5 million tied to the sale of acquired loans. Nonperforming loans edged up to 0.92%, while criticized loans improved to 2.94%, signaling overall stabilization in asset quality.