Renasant Corporation Announces Earnings for the Second Quarter of 2026

TUPELO, Miss., July 28, 2026 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the second quarter of 2026.

(Dollars in thousands, except earnings per share)Three Months Ended Six Months Ended Jun 30, 2026Mar 31, 2026Jun 30, 2025 Jun 30, 2026Jun 30, 2025Net income and Earnings per share:      Net income$87,091$88,228$1,018  $175,319$42,536 Merger and conversion related expenses (net of tax) — — (15,935)  — (16,527)Day 1 acquisition provision (net of tax) — — (50,026)  — (50,026)Basic EPS 0.95 0.94 0.01   1.89 0.54 Diluted EPS 0.94 0.94 0.01   1.88 0.53 Adjusted diluted EPS (non-GAAP)(1) 0.94 0.93 0.69   1.88 1.36 Impact to diluted EPS from merger and conversion related expenses (net of tax) — — (0.17)  — (0.21)Impact to diluted EPS from Day 1 acquisition provision (net of tax) — — (0.53)  — (0.63) 

“Second quarter results were strong, and together with the first quarter, we have six months of financial performance that is well ahead of last year’s levels. We believe our team is operating at a high level and has positioned us to continue producing strong profitability as we pursue opportunities for added growth throughout our footprint,” remarked Kevin D. Chapman, President and Chief Executive Officer of the Company.

Quarterly Highlights

Earnings

• Net income for the second quarter of 2026 was $87.1 million; both diluted EPS and adjusted diluted EPS (non-GAAP)(1) were $0.94
• Net interest income, on a fully tax equivalent basis, for the second quarter of 2026 was $227.7 million, down $0.8 million linked quarter
• Net interest margin, on fully tax equivalent basis, for the second quarter of 2026 was 3.83%, down 4 basis points linked quarter. Adjusted net interest margin (non-GAAP)(1) was flat at 3.61%
• Cost of total deposits was 1.96% for the second quarter of 2026, up 2 basis points linked quarter
• Noninterest income increased $0.9 million linked quarter
• Mortgage banking income decreased $0.3 million linked quarter. The mortgage division generated $611.6 million in interest rate lock volume in the second quarter of 2026, up $69.3 million linked quarter. Gain on sale margin was 1.57% for the second quarter of 2026, down 28 basis points linked quarter
• Noninterest expense increased $6.2 million linked quarter, driven primarily by deferred compensation accruals tied to market valuations, higher health insurance claims and annual merit increases
  

Balance Sheet

• Loans increased $220.9 million linked quarter, representing a 4.7% annualized net loan increase. Included in this increase is a $58.3 million loan portfolio that Renasant Bank’s subsidiary, Republic Business Credit, acquired during the quarter
• Securities increased $9.3 million linked quarter. The Company purchased $162.4 million in securities during the second quarter, which was offset by a negative fair market value adjustment in the Company’s available-for-sale portfolio of $9.2 million and cash flows related to principal payments, calls and maturities of $146.5 million
• Deposits at June 30, 2026 decreased $398.4 million linked quarter. Seasonal outflows in public fund deposits accounted for $367.7 million of the decrease. Noninterest bearing deposits decreased $145.4 million linked quarter and represented 23.2% of total deposits at June 30, 2026 as compared to 23.5% at March 31, 2026
  

Capital and Stock Repurchase Program

• Book value per share and tangible book value per share (non-GAAP)(1) increased 1.7% and 1.4%, respectively, linked quarter
• Effective April 28, 2026, the Company’s quarterly cash dividend was increased to $0.24 per share
• The Company has a $250.0 million stock repurchase program under which the Company is authorized to repurchase outstanding shares of its common stock either in open market purchases or privately negotiated transactions. The program will remain in effect until the earlier of October 2026 or the repurchase of the entire amount authorized under the plan. During the second quarter of 2026, the Company repurchased $60.0 million of common stock at a weighted average price of $39.54. As of June 30, 2026, $101.8 million in repurchase authorization remained available under the program
• On May 7, 2026, the Company completed a subordinated debt offering, issuing $300.0 million aggregate principal amount of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036

Credit Quality

• The Company recorded a provision for credit losses on loans and unfunded commitments of $1.2 million and $2.6 million, respectively, for the second quarter of 2026, representing a decrease of $3.1 million and $1.2 million, respectively, linked quarter
• The ratio of the allowance for credit losses on loans to total loans was 1.54% at June 30, 2026, down 2 basis points linked quarter
• The coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 158.73% at June 30, 2026, compared to 147.71% at March 31, 2026
• Net loan charge-offs for the second quarter of 2026 were $2.8 million, or 0.06% annualized
• Nonperforming loans to total loans decreased to 0.97% at June 30, 2026 compared to 1.06% at March 31, 2026 , and criticized loans (which include classified and Special Mention loans) to total loans decreased to 2.66% at June 30, 2026, compared to 2.77% at March 31, 2026
  

(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.

Income Statement

(Dollars in thousands, except per share data)Three Months Ended Six Months Ended Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025 Jun 30, 2026Jun 30, 2025Interest income        Loans held for investment$296,346$295,397$305,604$308,110$301,794 $591,743$498,360Loans held for sale 3,329 2,876 3,617 4,675 4,639  6,205 7,647Securities 35,660 32,266 30,232 30,217 28,408  67,926 40,525Other 5,105 7,581 7,480 8,096 9,057  12,686 17,696Total interest income 340,440 338,120 346,933 351,098 343,898  678,560 564,228Interest expense        Deposits 106,398 103,860 105,673 115,573 111,921  210,258 191,307Borrowings 11,288 10,701 13,867 12,005 13,118  21,989 19,865Total interest expense 117,686 114,561 119,540 127,578 125,039  232,247 211,172Net interest income 222,754 223,559 227,393 223,520 218,859  446,313 353,056Provision for credit losses        Provision for loan losses 1,166 4,224 5,473 9,650 75,400  5,390 77,450Provision for unfunded commitments 2,633 3,856 5,462 800 5,922  6,489 8,622Total provision for credit losses 3,799 8,080 10,935 10,450 81,322  11,879 86,072Net interest income after provision for credit losses 218,955 215,479 216,458 213,070 137,537  434,434 266,984Noninterest income 51,190 50,272 51,125 46,026 48,334  101,462 84,729Noninterest expense 161,501 155,328 170,750 183,830 183,204  316,829 297,080Income before income taxes 108,644 110,423 96,833 75,266 2,667  219,067 54,633Income taxes 21,553 22,195 17,885 15,478 1,649  43,748 12,097Net income$87,091$88,228$78,948$59,788$1,018 $175,319$42,536         Adjusted net income (non-GAAP)(1)$87,091$88,071$86,879$72,917$65,877 $175,162$107,987Adjusted pre-provision net revenue (“PPNR”) (non-GAAP)(1)$112,443$118,294$118,335$103,210$103,001 $230,737$160,508         Basic earnings per share$0.95$0.94$0.84$0.63$0.01 $1.89$0.54Diluted earnings per share 0.94 0.94 0.83 0.63 0.01  1.88 0.53Adjusted diluted earnings per share (non-GAAP)(1) 0.94 0.93 0.91 0.77 0.69  1.88 1.36Average basic shares outstanding 91,650,415 93,693,615 94,469,544 94,623,551 94,580,927  92,666,370 79,209,073Average diluted shares outstanding 92,220,282 94,228,343 95,172,380 95,284,603 95,136,160  93,219,350 79,671,775Cash dividends per common share$0.24$0.23$0.23$0.22$0.22 $0.47$0.44 

(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.

Performance Ratios

 Three Months Ended Six Months Ended Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025 Jun 30, 2026Jun 30, 2025Return on average assets1.30%1.33%1.17%0.90%0.02% 1.32%0.39%Adjusted return on average assets (non-GAAP)(1)1.30 1.33 1.29 1.09 1.01  1.32 0.98 Return on average tangible assets (non-GAAP)(1)1.48 1.51 1.35 1.06 0.13  1.50 0.48 Adjusted return on average tangible assets (non-GAAP)(1)1.48 1.51 1.47 1.27 1.18  1.50 1.12 Return on average equity9.07 9.20 8.14 6.25 0.11  9.14 2.66 Adjusted return on average equity (non-GAAP)(1)9.07 9.19 8.95 7.62 7.06  9.13 6.76 Return on average tangible equity (non-GAAP)(1)16.25 16.36 14.80 11.87 1.43  16.30 5.24 Adjusted return on average tangible equity (non-GAAP)(1)16.25 16.33 16.18 14.22 13.50  16.29 12.10 Efficiency ratio (fully taxable equivalent)57.92 55.73 60.23 67.05 67.59  56.83 66.78 Adjusted efficiency ratio (non-GAAP)(1)54.92 52.82 53.52 57.51 57.07  53.87 59.95 Dividend payout ratio25.26 24.47 27.38 34.92 2200.00  24.87 81.48  

Capital and Balance Sheet Ratios

 As of Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Shares outstanding 91,403,230  92,881,329  94,636,207  95,020,881  95,019,311 Market value per share$42.54 $36.13 $35.22 $36.89 $35.93 Book value per share 42.35  41.63  41.05  40.26  39.77 Tangible book value per share (non-GAAP)(1) 25.34  25.00  24.65  23.77  23.10 Shareholders’ equity to assets 14.34% 14.27% 14.52% 14.31% 14.19%Tangible common equity ratio (non-GAAP)(1) 9.10  9.08  9.26  8.98  8.77 Leverage ratio(2) 9.55  9.54  9.61  9.46  9.36 Common equity tier 1 capital ratio(2) 11.06  11.22  11.24  11.04  11.08 Tier 1 risk-based capital ratio(2) 11.06  11.22  11.24  11.04  11.08 Total risk-based capital ratio(2) 15.94  14.77  14.78  14.88  14.97  

(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

Noninterest Income and Noninterest Expense

(Dollars in thousands)Three Months Ended Six Months Ended Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025 Jun 30, 2026Jun 30, 2025Noninterest income        Service charges on deposit accounts$14,516$14,740$14,535$13,416$13,618 $29,256$23,982Fees and commissions 5,471 4,654 5,192 4,167 6,650  10,125 10,437Wealth management revenue 9,073 8,678 8,572 8,217 7,345  17,751 14,412Mortgage banking income 9,178 9,435 8,924 9,017 11,263  18,613 19,410BOLI income 4,608 3,689 3,697 4,235 3,383  8,297 6,312Other 8,344 9,076 10,205 6,974 6,075  17,420 10,176Total noninterest income$51,190$50,272$51,125$46,026$48,334 $101,462$84,729Noninterest expense        Salaries and employee benefits$96,228$91,749$98,082$98,982$99,542 $187,977$171,499Data processing 5,037 5,221 5,636 5,541 5,438  10,258 9,527Net occupancy and equipment 18,018 18,031 16,123 18,415 17,359  36,049 29,113Other real estate owned 453 1,399 481 328 157  1,852 842Professional fees 4,518 4,402 4,327 3,435 4,223  8,920 7,107Advertising and public relations 4,677 4,599 4,314 5,254 4,490  9,276 8,787Intangible amortization 8,370 8,220 8,465 8,674 8,884  16,590 9,964Communications 3,566 4,009 4,493 3,955 3,184  7,575 5,217Merger and conversion related expenses — — 10,567 17,494 20,479  — 21,270Other 20,634 17,698 18,262 21,752 19,448  38,332 33,754Total noninterest expense$161,501$155,328$170,750$183,830$183,204 $316,829$297,080 

Mortgage Banking Income

(Dollars in thousands)Three Months Ended Six Months Ended Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025 Jun 30, 2026Jun 30, 2025Gain on sales of loans, net(1)$4,760$5,305$5,243$5,270$5,316 $10,065$9,816Fees, net 3,470 2,842 2,970 3,050 3,740  6,312 6,057Mortgage servicing income, net 948 1,288 711 697 2,207  2,236 3,537Total mortgage banking income$9,178$9,435$8,924$9,017$11,263 $18,613$19,410 

(1) Gain on sales of loans, net includes pipeline fair value adjustments

Balance Sheet

(Dollars in thousands)As of Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Assets     Cash and cash equivalents$881,203 $1,216,980 $1,070,718 $1,083,785 $1,378,612 Securities held to maturity, at amortized cost 983,032  1,006,511  1,030,073  1,051,884  1,076,817 Securities available for sale, at fair value 2,842,424  2,809,647  2,560,818  2,512,650  2,471,487 Loans held for sale, at fair value 241,588  230,980  265,959  286,779  356,791 Loans held for investment 19,196,172  18,975,248  19,047,039  19,025,521  18,563,447 Allowance for credit losses on loans (296,008) (295,862) (293,955) (297,591) (290,770)Loans, net 18,900,164  18,679,386  18,753,084  18,727,930  18,272,677 Premises and equipment, net 464,020  463,723  465,141  471,213  465,100 Other real estate owned 15,571  12,954  15,191  10,578  11,750 Goodwill 1,417,538  1,406,667  1,405,840  1,411,711  1,419,782 Other intangibles 138,022  138,392  146,612  155,077  163,751 Bank-owned life insurance 495,235  494,874  492,541  488,920  486,613 Mortgage servicing rights 65,816  64,850  65,271  65,466  64,539 Other assets 560,386  582,310  480,178  460,172  457,056 Total assets$27,004,999 $27,107,274 $26,751,426 $26,726,165 $26,624,975       Liabilities and Shareholders’ Equity     Liabilities     Deposits:     Noninterest-bearing$5,038,070 $5,183,426 $5,043,960 $5,238,431 $5,356,153 Interest-bearing 16,662,982  16,916,058  16,429,110  16,186,124  16,226,484 Total deposits 21,701,052  22,099,484  21,473,070  21,424,555  21,582,637 Short-term borrowings 315,225  305,863  555,774  606,063  405,349 Long-term debt 796,469  500,342  499,756  558,878  556,976 Other liabilities 320,875  334,667  337,921  310,891  301,159 Total liabilities$23,133,621 $23,240,356 $22,866,521 $22,900,387 $22,846,121       Shareholders’ equity:     Common stock 488,612  488,612  488,612  488,612  488,612 Treasury stock (232,402) (173,835) (103,494) (90,297) (90,248)Additional paid-in capital 2,390,839  2,388,649  2,392,997  2,389,033  2,393,566 Retained earnings 1,327,997  1,263,116  1,196,522  1,139,600  1,100,965 Accumulated other comprehensive loss (103,668) (99,624) (89,732) (101,170) (114,041)Total shareholders’ equity 3,871,378  3,866,918  3,884,905  3,825,778  3,778,854 Total liabilities and shareholders’ equity$27,004,999 $27,107,274 $26,751,426 $26,726,165 $26,624,975  

Net Interest Income and Net Interest Margin

(Dollars in thousands)Three Months Ended June 30, 2026March 31, 2026June 30, 2025 Average
BalanceInterest
Income/
Expense(1)Yield/
Rate(1)Average
BalanceInterest
Income/
Expense(1)Yield/
Rate(1)Average
BalanceInterest
Income/
Expense(1)Yield/
Rate(1)Interest-earning assets:         Loans held for investment$19,060,083$300,1126.31%$19,035,115$299,1256.37%$18,448,000$304,8346.63%Loans held for sale 223,489 3,3295.96% 211,507 2,8765.44% 287,855 4,6396.45%Taxable securities 3,472,422 29,6913.42% 3,380,880 28,8613.41% 3,106,565 24,9173.21%Tax-exempt securities 445,249 7,1066.38% 432,789 4,5424.20% 462,732 4,3093.72%Total securities 3,917,671 36,7973.76% 3,813,669 33,4033.50% 3,569,297 29,2263.28%Interest-bearing balances with banks 600,075 5,1053.41% 823,706 7,5813.73% 901,803 9,0574.03%Total interest-earning assets 23,801,318 345,3435.82% 23,883,997 342,9855.81% 23,206,955 347,7566.01%Cash and due from banks 264,246   290,611   357,338  Intangible assets 1,546,924   1,548,244   1,589,490  Other assets 1,187,805   1,132,508   1,029,082  Total assets$26,800,293  $26,855,360  $26,182,865  Interest-bearing liabilities:         Interest-bearing demand(2)$11,647,640$72,2612.49%$11,741,333$72,0252.49%$11,191,443$76,5422.74%Savings deposits 1,307,314 9440.29% 1,289,327 8760.28% 1,322,007 1,0320.31%Time deposits 3,760,192 33,1933.54% 3,583,946 30,9593.50% 3,404,482 34,3474.05%Total interest-bearing deposits 16,715,146 106,3982.55% 16,614,606 103,8602.54% 15,917,932 111,9212.82%Borrowed funds 891,081 11,2885.07% 973,114 10,7014.44% 1,036,045 13,1185.07%Total interest-bearing liabilities 17,606,227 117,6862.68% 17,587,720 114,5612.64% 16,953,977 125,0392.96%Noninterest-bearing deposits 5,038,879   5,088,817   5,233,976  Other liabilities 303,586   290,242   249,861  Shareholders’ equity 3,851,601   3,888,581   3,745,051  Total liabilities and shareholders’ equity$26,800,293  $26,855,360  $26,182,865  Net interest income/ net interest margin (FTE) $227,6573.83% $228,4243.87% $222,7173.85%Cost of funding  2.08%  2.05%  2.26%Cost of total deposits  1.96%  1.94%  2.12% 

(1) Interest income and weighted average yields on tax-exempt loans and securities have been computed on a fully tax equivalent basis assuming a federal tax rate of 21%.
(2) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.

Net Interest Income and Net Interest Margin, continued

(Dollars in thousands)Six Months Ended June 30, 2026June 30, 2025 Average
BalanceInterest
Income/
Expense(1)Yield/
Rate(1)Average
BalanceInterest
Income/
Expense(1)Yield/
Rate(1)Interest-earning assets:      Loans held for investment$19,047,668$599,2376.34%$15,722,576$504,3386.47%Loans held for sale 217,531 6,2055.71% 244,626 7,6476.25%Taxable securities 3,426,904 58,5523.42% 2,498,428 35,8882.87%Tax-exempt securities 439,053 11,6485.31% 361,827 5,7523.18%Total securities 3,865,957 70,2003.63% 2,860,255 41,6402.91%Interest-bearing balances with banks 711,273 12,6863.60% 863,486 17,6964.13%Total interest-earning assets 23,842,429 688,3285.81% 19,690,943 571,3215.84%Cash and due from banks 277,356   270,088  Intangible assets 1,547,581   1,297,622  Other assets 1,160,309   850,231  Total assets$26,827,675  $22,108,884  Interest-bearing liabilities:      Interest-bearing demand(2)$11,694,228$144,2862.49%$9,522,800$131,2522.78%Savings deposits 1,298,370 1,8200.28% 1,069,134 1,7430.33%Time deposits 3,672,555 64,1523.52% 2,941,920 58,3123.99%Total interest-bearing deposits 16,665,153 210,2582.54% 13,533,854 191,3072.85%Borrowed funds 931,871 21,9894.74% 797,714 19,8655.00%Total interest-bearing liabilities 17,597,024 232,2472.66% 14,331,568 211,1722.97%Noninterest-bearing deposits 5,063,710   4,326,445  Other liabilities 296,952   229,098  Shareholders’ equity 3,869,989   3,221,773  Total liabilities and shareholders’ equity$26,827,675  $22,108,884  Net interest income/ net interest margin (FTE) $456,0813.85% $360,1493.68%Cost of funding  2.07%  2.28%Cost of total deposits  1.95%  2.16% 

(1) Interest income and weighted average yields on tax-exempt loans and securities have been computed on a fully tax equivalent basis assuming a federal tax rate of 21%.
(2) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.

Loan Portfolio

(Dollars in thousands)As of Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Loan Portfolio:     Real estate - 1-4 family mortgage$4,568,039$4,584,118$4,635,033$4,642,657$4,648,443Construction and Land Development 2,009,664 1,898,629 1,905,636 1,990,657 1,795,197Commercial Real Estate - Non-Owner Occupied 6,123,500 6,135,543 6,245,480 6,120,677 5,953,135Commercial Real Estate - Owner Occupied 3,332,728 3,357,965 3,334,664 3,321,186 3,288,005Commercial and Industrial 3,063,069 2,895,477 2,818,326 2,834,669 2,756,491Consumer 99,172 103,516 107,900 115,675 122,176Total loans$19,196,172$18,975,248$19,047,039$19,025,521$18,563,447 

Credit Quality and Allowance for Credit Losses on Loans

(Dollars in thousands)As of Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Nonperforming Assets:     Nonaccruing loans$186,432 $197,515 $175,730 $170,756 $137,999 Loans 90 days or more past due 51  2,779  288  792  3,860 Total nonperforming loans 186,483  200,294  176,018  171,548  141,859 Other real estate owned 15,571  12,954  15,191  10,578  11,750 Total nonperforming assets$202,054 $213,248 $191,209 $182,126 $153,609       Criticized Loans     Classified loans$336,816 $349,068 $359,235 $392,721 $333,626 Special Mention loans 173,401  176,345  201,428  219,792  159,931 Criticized loans$510,217 $525,413 $560,663 $612,513 $493,557       Allowance for credit losses on loans$296,008 $295,862 $293,955 $297,591 $290,770 Net loan charge-offs$2,770 $2,317 $9,109 $4,339 $12,054 Annualized net loan charge-offs / average loans 0.06% 0.05% 0.19% 0.09% 0.26%Nonperforming loans / total loans 0.97  1.06  0.92  0.90  0.76 Nonperforming assets / total assets 0.75  0.79  0.71  0.68  0.58 Allowance for credit losses on loans / total loans 1.54  1.56  1.54  1.56  1.57 Allowance for credit losses on loans / nonperforming loans 158.73  147.71  167.00  173.47  204.97 Criticized loans / total loans 2.66  2.77  2.94  3.22  2.66  

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, July 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=ATOn3Pcb. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2026 Second 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 August 12, 2026.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank, a 122-year-old financial services institution. Renasant has assets of approximately $27.0 billion and operates 279 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) the Company’s ability to remediate the material weakness in its internal control over financial reporting identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on March 2, 2026; (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 the Company’s 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 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, 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.

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.

Non-GAAP Reconciliations

(Dollars in thousands, except per share data)Three Months Ended Six Months Ended Jun 30, 2026Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025 Jun 30, 2026Jun 30, 2025Adjusted Pre-Provision Net Revenue (“PPNR”)      Net income (GAAP)$87,091 $88,228 $78,948 $59,788 $1,018  $175,319 $42,536 Income taxes 21,553  22,195  17,885  15,478  1,649   43,748  12,097 Provision for credit losses (including unfunded commitments) 3,799  8,080  10,935  10,450  81,322   11,879  86,072 Pre-provision net revenue (non-GAAP)$112,443 $118,503 $107,768 $85,716 $83,989  $230,946 $140,705 Merger and conversion related expenses —  —  10,567  17,494  20,479   —  21,270 Gain on sales of MSR —  (209) —  —  (1,467)  (209) (1,467)Adjusted pre-provision net revenue (non-GAAP)$112,443 $118,294 $118,335 $103,210 $103,001  $230,737 $160,508          Adjusted Net Income and Adjusted Tangible Net Income      Net income (GAAP)$87,091 $88,228 $78,948 $59,788 $1,018  $175,319 $42,536 Amortization of intangibles 8,370  8,220  8,465  8,674  8,884   16,590  9,964 Tax effect of adjustments noted above(1) (2,084) (2,047) (2,112) (2,164) (2,212)  (4,131) (2,481)Tangible net income (non-GAAP)$93,377 $94,401 $85,301 $66,298 $7,690  $187,778 $50,019          Net income (GAAP)$87,091 $88,228 $78,948 $59,788 $1,018  $175,319 $42,536 Merger and conversion related expenses —  —  10,567  17,494  20,479   —  21,270 Day 1 acquisition provision for loan losses —  —  —  —  62,190   —  62,190 Day 1 acquisition provision for unfunded commitments —  —  —  —  4,422   —  4,422 Gain on sales of MSR —  (209) —  —  (1,467)  (209) (1,467)Tax effect of adjustments noted above(1) —  52  (2,636) (4,365) (20,765)  52  (20,964)Adjusted net income (non-GAAP)$87,091 $88,071 $86,879 $72,917 $65,877  $175,162 $107,987 Amortization of intangibles 8,370  8,220  8,465  8,674  8,884   16,590  9,964 Tax effect of adjustments noted above(1) (2,084) (2,047) (2,112) (2,164) (2,212)  (4,131) (2,481)Adjusted tangible net income (non-GAAP)$93,377 $94,244 $93,232 $79,427 $72,549  $187,621 $115,470          Tangible Assets and Tangible Shareholders’ Equity      Average shareholders’ equity (GAAP)$3,851,601 $3,888,581 $3,849,791 $3,794,996 $3,745,051  $3,869,989 $3,221,773 Average intangible assets (1,546,924) (1,548,244) (1,563,189) (1,578,846) (1,589,490)  (1,547,581) (1,297,622)Average tangible shareholders’ equity (non-GAAP)$2,304,677 $2,340,337 $2,286,602 $2,216,150 $2,155,561  $2,322,408 $1,924,151          Average assets (GAAP)$26,800,293 $26,855,360 $26,693,539 $26,456,596 $26,182,865  $26,827,675 $22,108,884 Average intangible assets (1,546,924) (1,548,244) (1,563,189) (1,578,846) (1,589,490)  (1,547,581) (1,297,622)Average tangible assets (non-GAAP)$25,253,369 $25,307,116 $25,130,350 $24,877,750 $24,593,375  $25,280,094 $20,811,262          Shareholders’ equity (GAAP)$3,871,378 $3,866,918 $3,884,905 $3,825,778 $3,778,854  $3,871,378 $3,778,854 Intangible assets (1,555,560) (1,545,059) (1,552,452) (1,566,788) (1,583,533)  (1,555,560) (1,583,533)Tangible shareholders’ equity (non-GAAP)$2,315,818 $2,321,859 $2,332,453 $2,258,990 $2,195,321  $2,315,818 $2,195,321          Total assets (GAAP)$27,004,999 $27,107,274 $26,751,426 $26,726,165 $26,624,975  $27,004,999 $26,624,975 Intangible assets (1,555,560) (1,545,059) (1,552,452) (1,566,788) (1,583,533)  (1,555,560) (1,583,533)Total tangible assets (non-GAAP)$25,449,439 $25,562,215 $25,198,974 $25,159,377 $25,041,442  $25,449,439 $25,041,442 Adjusted Performance Ratios        Return on average assets (GAAP) 1.30% 1.33% 1.17% 0.90% 0.02%  1.32% 0.39%Adjusted return on average assets (non-GAAP) 1.30  1.33  1.29  1.09  1.01   1.32  0.98 Return on average tangible assets (non-GAAP) 1.48  1.51  1.35  1.06  0.13   1.50  0.48 Pre-provision net revenue to average assets (non-GAAP) 1.68  1.79  1.60  1.29  1.29   1.74  1.28 Adjusted pre-provision net revenue to average assets (non-GAAP) 1.68  1.79  1.76  1.55  1.58   1.73  1.46 Adjusted return on average tangible assets (non-GAAP) 1.48  1.51  1.47  1.27  1.18   1.50  1.12 Return on average equity (GAAP) 9.07  9.20  8.14  6.25  0.11   9.14  2.66 Adjusted return on average equity (non-GAAP) 9.07  9.19  8.95  7.62  7.06   9.13  6.76 Return on average tangible equity (non-GAAP) 16.25  16.36  14.80  11.87  1.43   16.30  5.24 Adjusted return on average tangible equity (non-GAAP) 16.25  16.33  16.18  14.22  13.50   16.29  12.10          Adjusted Diluted Earnings Per Share      Average diluted shares outstanding 92,220,282  94,228,343  95,172,380  95,284,603  95,136,160   93,219,350  79,671,775          Diluted earnings per share (GAAP)$0.94 $0.94 $0.83 $0.63 $0.01  $1.88 $0.53 Adjusted diluted earnings per share (non-GAAP)$0.94 $0.93 $0.91 $0.77 $0.69  $1.88 $1.36          Tangible Book Value Per Share        Shares outstanding 91,403,230  92,881,329  94,636,207  95,020,881  95,019,311   91,403,230  95,019,311          Book value per share (GAAP)$42.35 $41.63 $41.05 $40.26 $39.77  $42.35 $39.77 Tangible book value per share (non-GAAP)$25.34 $25.00 $24.65 $23.77 $23.10  $25.34 $23.10          Tangible Common Equity Ratio        Shareholders’ equity to assets (GAAP) 14.34% 14.27% 14.52% 14.31% 14.19%  14.34% 14.19%Tangible common equity ratio (non-GAAP) 9.10% 9.08% 9.26% 8.98% 8.77%  9.10% 8.77%         Adjusted Efficiency Ratio        Net interest income (FTE) (GAAP)$227,657 $228,424 $232,361 $228,131 $222,717  $456,081 $360,149          Total noninterest income (GAAP)$51,190 $50,272 $51,125 $46,026 $48,334  $101,462 $84,729 Gain on sales of MSR —  (209) —  —  (1,467)  (209) (1,467)Total adjusted noninterest income (non-GAAP)$51,190 $50,063 $51,125 $46,026 $46,867  $101,253 $83,262          Noninterest expense (GAAP)$161,501 $155,328 $170,750 $183,830 $183,204  $316,829 $297,080 Amortization of intangibles (8,370) (8,220) (8,465) (8,674) (8,884)— (16,590) (9,964)Merger and conversion expense —  —  (10,567) (17,494) (20,479)  —  (21,270)Total adjusted noninterest expense (non-GAAP)$153,131 $147,108 $151,718 $157,662 $153,841  $300,239 $265,846          Efficiency ratio (GAAP) 57.92% 55.73% 60.23% 67.05% 67.59%  56.83% 66.78%Adjusted efficiency ratio (non-GAAP) 54.92% 52.82% 53.52% 57.51% 57.07%  53.87% 59.95%Adjusted Net Interest Income and Adjusted Net Interest Margin      Net interest income (FTE) (GAAP)$227,657 $228,424 $232,361 $228,131 $222,717  $456,081 $360,149 Net interest income collected on problem loans (1,166) (210) (2,767) (664) (2,779)  (1,376) (3,805)Accretion recognized on purchased loans (12,327) (15,248) (13,632) (16,862) (17,834)  (27,575) (18,392)Amortization recognized on purchased time deposits —  —  —  2,995  4,396   —  4,396 Amortization recognized on purchased long term borrowings 336  336  335  837  1,072   672  1,072 Adjustments to net interest income$(13,157)$(15,122)$(16,064)$(13,694)$(15,145) $(28,279)$(16,729)Adjusted net interest income (FTE) (non-GAAP)$214,500 $213,302 $216,297 $214,437 $207,572  $427,802 $343,420          Net interest margin (FTE) (GAAP) 3.83% 3.87% 3.89% 3.85% 3.85%  3.85% 3.68%Adjusted net interest margin (FTE) (non-GAAP) 3.61% 3.61% 3.62% 3.62% 3.58%  3.61% 3.51%         Adjusted Loan Yield        Loan interest income (FTE) (GAAP)$300,112 $299,125 $309,667 $311,903 $304,834  $599,237 $504,338 Net interest income collected on problem loans (1,166) (210) (2,767) (664) (2,779)  (1,376) (3,805)Accretion recognized on purchased loans (12,327) (15,248) (13,632) (16,862) (17,834)  (27,575) (18,392)Adjusted loan interest income (FTE) (non-GAAP)$286,619 $283,667 $293,268 $294,377 $284,221  $570,286 $482,141          Loan yield (GAAP) 6.31% 6.37% 6.45% 6.60% 6.63%  6.34% 6.47%Adjusted loan yield (non-GAAP) 6.03% 6.04% 6.11% 6.23% 6.18%  6.04% 6.18% 

(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.

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