TUPELO, Miss., Oct. 15, 2013 /PRNewswire/ -- Renasant
Corporation (NASDAQ: RNST) (the "Company") today announced its
financial results for the third quarter of 2013. Net income for the
third quarter of 2013 was $6.6
million, or basic and diluted earnings per share of
$0.24, as compared to $7.0 million, or basic and diluted earnings per
share of $0.28, for the third quarter
of 2012. On September 1, 2013, the
Company completed its merger with First M&F Corporation
("M&F"). The Company's 2013 third quarter results include
$2.7 million, or $0.10 per share, in after-tax merger expenses
associated with the M&F transaction. Excluding merger expenses,
net income was $9.3 million, or basic
and diluted earnings per share of $0.34, for the third quarter of 2013.
(Logo: http://photos.prnewswire.com/prnh/20130207/CL56161LOGO
)
The Company's results of operation do not reflect M&F's
results prior to the date of merger completion, but balances for
the Company as of September 30, 2013
incorporate the impact of the M&F acquisition, including
M&F's $1.4 billion in assets,
loans of $891.4 million, $1.3 billion in deposits, 35 branches, 8
insurance offices and $115.1 million
in goodwill and other intangibles as of the completion date of the
merger. The Company issued approximately 6.2 million shares of
stock in connection with the acquisition. The assets acquired
and liabilities assumed are recorded at estimated fair value and
subject to change pending finalization of all valuations.
"We are pleased with our third quarter performance which
includes the completion of the M&F merger, our largest
acquisition to date. In addition to the merger, we continued to
experience strong loan growth and significant improvements to our
credit risk profile," commented Renasant Chairman and Chief
Executive Officer, E. Robinson
McGraw.
Total assets as of September 30,
2013, were approximately $5.74
billion, as compared to $4.18
billion at December 31,
2012.
At September 30, 2013, the
Company's Tier 1 leverage capital ratio was 8.66%, its Tier 1
risk-based capital ratio was 11.40%, and its total risk-based
capital ratio was 12.53%. The Company's tangible common equity
ratio was 6.49%. All of the Company's regulatory capital
ratios continued to be in excess of the regulatory minimums
required to be classified as "well-capitalized."
Total loans, which include both loans covered and not covered
under FDIC loss-share agreements and the M&F acquired loans,
were approximately $3.88 billion at
September 30, 2013, as compared to
$2.81 billion at December 31, 2012. Excluding loans from M&F,
loans not covered under FDIC loss-share agreements were
$2.79 billion at September 30, 2013, an increase of 8.59% from
December 31, 2012.
Total deposits, which include deposits from M&F, were
$4.83 billion at September 30, 2013, as compared to $3.46 billion at December
31, 2012. The Company's cost of funds decreased 11
basis points to 0.57% for the third quarter of 2013, as compared to
0.68% for the third quarter of 2012.
Net interest income increased to $38.7
million for the third quarter of 2013, from $33.1 million for the third quarter of
2012. Net interest margin was 3.86% for the third
quarter of 2013, as compared to 3.94% for the third quarter of
2012.
"The competitive pricing pressure on loan growth, which
continues to cause margin compression, remains a real risk. To
combat the long-term interest rate risks associated with low rate
loans for extended periods of time, we have made a concerted effort
to shorten our repricing terms while maintaining new and renewed
rates. As a result of these efforts, the yields on our new and
renewed loan production improved slightly during the third quarter
of 2013 as compared to recent quarters while reducing the weighted
average repricing term," stated McGraw.
Noninterest income was $18.9
million for the third quarter of 2013, as compared to
$18.0 million for the third quarter
of 2012. Gain on sale of mortgage loans was $2.8 million for the third quarter of 2013, as
compared to $4.4 million for the
third quarter of 2012, due primarily to a decline in the mortgage
pipeline and increased pricing pressure as a result of a slowdown
in refinance volume caused by the recent increase in mortgage
rates.
"While we experienced a slowdown in mortgage volume in the third
quarter, as compared to exceptionally strong recent quarters,
we have seen both our mortgage pipeline and competitor pricing
stabilize. We were particularly pleased to see our purchase
volume increase 41% from the third quarter of 2012, as we continue
to see results from our efforts to increase both retail and
wholesale purchase volume to offset the reduction in refinance
volume," stated McGraw.
Noninterest expense was $46.6
million for the third quarter of 2013, as compared to
$38.7 million for the third quarter
of 2012. The increase in noninterest expense during the third
quarter of 2013, as compared to the third quarter of 2012, is
primarily attributable to $3.8
million in pre-tax merger expenses and additional personnel
related to the new lines of business and in-market lift
outs.
The Company's loans and other real estate owned ("OREO")
acquired in FDIC-assisted transactions are recorded at fair
value. Furthermore, the loss-share agreements with the FDIC,
as well as adjustments to the balances of these acquired assets to
record them at fair value, mitigate the impact of further losses on
these assets. Nonperforming loans and OREO covered under
loss-share agreements totaled $50.1
million and $16.6 million,
respectively, at September 30, 2013,
combining for a decrease of approximately 32.47% in nonperforming
assets subject to FDIC loss-share agreements from December 31, 2012. The remaining
information in this release on nonperforming loans, OREO, and the
related asset quality ratios exclude the assets covered under
loss-share agreements.
The Company recorded a provision for loan losses of $2.3 million for the third quarter of 2013, as
compared to $4.6 million for the
third quarter of 2012. Annualized net charge-offs as a
percentage of average loans were 0.38% for the third quarter of
2013, as compared to 0.78% for the third quarter of 2012. The
allowance for loan losses as a percentage of loans, including the
acquired M&F loans, was 1.25% at September 30, 2013, as compared to 1.72% at
December 31, 2012. Excluding
the acquired M&F loans, the allowance for loan losses as a
percentage of loans was 1.66% at September
30, 2013.
Nonperforming loans were $30.9
million at September 30, 2013,
which include $8.8 million of
nonperforming loans from M&F, as compared to $30.2 million at December
31, 2012. The Company's coverage ratio, or its allowance for
loan losses as a percentage of nonperforming loans, was 149.9% as
of September 30, 2013, as compared to
146.9% as of December 31, 2012.
Excluding M&F's nonperforming loans, which are carried at fair
value and, therefore, do not have any allowance for loan losses
assigned at September 30, 2013, the
coverage ratio was 209.5%.
OREO, including $13.2 million in
OREO acquired from M&F, was $40.6
million at September 30, 2013,
as compared to $44.7 million at
December 31, 2012. Excluding the OREO
acquired from M&F, OREO totaled $27.4
million at September 30, 2013,
a 38.8% decrease from year end. During the third quarter, the
Company sold approximately $6.4
million in OREO.
"As we move towards full integration of M&F in the fourth
quarter, we remain excited about our new market entries, additional
banking talent and legacy market expansions provided by this
merger," stated McGraw. "In addition, the M&F merger
complements our other external growth initiatives, all of which
will continue to enhance our profitability."
CONFERENCE CALL INFORMATION:
A live audio webcast of a
conference call with analysts will be available beginning at
10:00 AM Eastern on Wednesday, October 16, 2013.
The webcast can be accessed through Renasant's investor
relations website at www.renasant.com or
http://services.choruscall.com/links/rnst131016.html. To access the
conference via telephone, dial 1-888-317-6016 in the United States and request the Renasant
Corporation Third Quarter 2013 Earnings Webcast and Conference
Call. International participants should dial 1-412-317-6016 to
access the conference call.
The webcast will be archived on www.renasant.com beginning one
hour after the call and will remain accessible for one year.
Replays can also be accessed via telephone by dialing
1-877-344-7529 in the United
States and entering conference number 10035185 or by dialing
1-412-317-0088 internationally and entering the conference number.
Telephone replay access is available until 9:00 AM ET on October 31,
2013.
ABOUT RENASANT CORPORATION:
Renasant Corporation, a
109-year-old financial services institution, is the parent of
Renasant Bank and Renasant Insurance. Renasant has assets of
approximately $5.7 billion and
operates over 120 banking, mortgage, financial services and
insurance offices in Mississippi,
Tennessee, Alabama and Georgia.
NOTE TO INVESTORS:
This news release may contain, or
incorporate by reference, statements which may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward
looking statements usually include words such as "expects,"
"projects," "anticipates," "believes," "intends," "estimates,"
"strategy," "plan," "potential," "possible" and other similar
expressions.
Prospective investors are cautioned that any such
forward-looking statements are not guarantees for future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known
to management that could cause actual results to differ materially
from those in forward-looking statements include significant
fluctuations in interest rates, inflation, economic recession,
significant changes in the federal and state legal and regulatory
environment, significant underperformance in our portfolio of
outstanding loans, and competition in our markets. We undertake no
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results over time.
Contacts:
|
For Media:
|
For
Financials:
|
|
John
Oxford
|
Kevin
Chapman
|
|
Vice
President
|
Executive Vice
President
|
|
Director of External
Affairs
|
Chief Financial
Officer
|
|
(662)
680-1219
|
(662)
680-1450
|
|
joxford@renasant.com
|
kchapman@renasant.com
|
RENASANT
CORPORATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q3 2013
-
|
|
For the Nine
Months
|
|
|
|
2013
|
|
2012
|
|
Q3
2012
|
|
Ended September
30,
|
|
|
|
Third
|
|
Second
|
|
First
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
Percent
|
|
|
|
|
|
Percent
|
Statement of
earnings
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Variance
|
|
2013
|
|
2012
|
|
Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income -
taxable equivalent basis
|
|
$
46,083
|
|
$
41,331
|
|
$
40,371
|
|
$
41,135
|
|
$
40,613
|
|
$
41,487
|
|
$
42,001
|
|
13.47
|
|
$
127,785
|
|
$
124,101
|
|
2.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
$
44,638
|
|
$
39,945
|
|
$
38,945
|
|
$
39,676
|
|
$
39,154
|
|
$
39,978
|
|
$
40,505
|
|
14.01
|
|
123,528
|
|
$
119,637
|
|
3.25
|
Interest
expense
|
|
5,890
|
|
5,541
|
|
5,564
|
|
5,723
|
|
6,022
|
|
6,568
|
|
7,662
|
|
(2.19)
|
|
16,995
|
|
$
20,252
|
|
(16.08)
|
|
Net interest
income
|
|
38,748
|
|
34,404
|
|
33,381
|
|
33,953
|
|
33,132
|
|
33,410
|
|
32,843
|
|
16.95
|
|
106,533
|
|
99,385
|
|
7.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
losses
|
|
2,300
|
|
3,000
|
|
3,050
|
|
4,000
|
|
4,625
|
|
4,700
|
|
4,800
|
|
(50.27)
|
|
8,350
|
|
14,125
|
|
(40.88)
|
|
Net interest income
after provision
|
|
36,448
|
|
31,404
|
|
30,331
|
|
29,953
|
|
28,507
|
|
28,710
|
|
28,043
|
|
27.86
|
|
98,183
|
|
85,260
|
|
15.16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on
deposit accounts
|
|
5,361
|
|
4,509
|
|
4,500
|
|
4,774
|
|
4,818
|
|
4,495
|
|
4,525
|
|
11.27
|
|
14,370
|
|
13,838
|
|
3.85
|
Fees and commissions
on loans and deposits
|
|
4,982
|
|
4,848
|
|
4,831
|
|
4,706
|
|
4,639
|
|
4,322
|
|
3,928
|
|
7.39
|
|
14,661
|
|
12,889
|
|
13.75
|
Insurance commissions
and fees
|
|
1,295
|
|
951
|
|
861
|
|
876
|
|
889
|
|
842
|
|
939
|
|
45.70
|
|
3,107
|
|
2,588
|
|
20.07
|
Wealth management
revenue
|
|
2,091
|
|
1,715
|
|
1,724
|
|
1,726
|
|
1,707
|
|
1,551
|
|
1,942
|
|
22.52
|
|
5,530
|
|
5,200
|
|
6.35
|
Securities gains
(losses)
|
|
-
|
|
-
|
|
54
|
|
121
|
|
-
|
|
869
|
|
904
|
|
-
|
|
54
|
|
1,773
|
|
(96.95)
|
Gain on sale of
mortgage loans
|
|
2,788
|
|
3,870
|
|
3,565
|
|
4,431
|
|
4,397
|
|
2,390
|
|
1,281
|
|
(36.59)
|
|
10,223
|
|
8,068
|
|
26.71
|
Gain on
acquisition
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Other
|
|
2,418
|
|
1,424
|
|
1,843
|
|
1,272
|
|
1,605
|
|
1,769
|
|
2,909
|
|
50.65
|
|
5,685
|
|
6,283
|
|
(9.52)
|
|
Total noninterest
income
|
|
18,935
|
|
17,317
|
|
17,378
|
|
17,906
|
|
18,055
|
|
16,238
|
|
16,428
|
|
4.87
|
|
53,630
|
|
50,639
|
|
5.91
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
|
25,689
|
|
21,906
|
|
21,274
|
|
21,261
|
|
21,221
|
|
19,871
|
|
18,649
|
|
21.06
|
|
68,869
|
|
59,741
|
|
15.28
|
Data
processing
|
|
2,236
|
|
2,045
|
|
2,043
|
|
2,281
|
|
2,192
|
|
2,211
|
|
2,040
|
|
2.00
|
|
6,324
|
|
6,443
|
|
(1.85)
|
Occupancy and
equipment
|
|
4,576
|
|
3,668
|
|
3,608
|
|
3,522
|
|
3,886
|
|
3,582
|
|
3,619
|
|
17.75
|
|
11,852
|
|
11,079
|
|
6.97
|
Other real
estate
|
|
1,537
|
|
1,773
|
|
2,049
|
|
3,787
|
|
2,440
|
|
3,370
|
|
3,999
|
|
(37.00)
|
|
5,359
|
|
9,809
|
|
(45.36)
|
Amortization of
intangibles
|
|
724
|
|
314
|
|
323
|
|
333
|
|
341
|
|
349
|
|
358
|
|
112.32
|
|
1,361
|
|
1,048
|
|
29.87
|
Merger-related
expenses
|
|
3,763
|
|
385
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
4,148
|
|
-
|
|
-
|
Debt extinguishment
penalty
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
898
|
|
-
|
|
-
|
|
898
|
|
(100.00)
|
Other
|
|
8,088
|
|
7,643
|
|
8,303
|
|
7,147
|
|
8,592
|
|
7,327
|
|
7,099
|
|
(5.87)
|
|
24,034
|
|
22,944
|
|
4.75
|
|
Total noninterest
expense
|
|
46,613
|
|
37,734
|
|
37,600
|
|
38,331
|
|
38,672
|
|
36,710
|
|
36,662
|
|
20.53
|
|
121,947
|
|
111,962
|
|
8.92
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
8,770
|
|
10,987
|
|
10,109
|
|
9,528
|
|
7,890
|
|
8,238
|
|
7,809
|
|
11.15
|
|
29,866
|
|
23,937
|
|
24.77
|
Income
taxes
|
|
2,133
|
|
2,968
|
|
2,538
|
|
2,247
|
|
853
|
|
1,893
|
|
1,835
|
|
150.06
|
|
7,639
|
|
4,581
|
|
66.75
|
|
Net
income
|
|
$
6,637
|
|
$
8,019
|
|
$
7,571
|
|
$
7,281
|
|
$
7,037
|
|
$
6,345
|
|
$
5,974
|
|
(5.69)
|
|
$
22,227
|
|
$
19,356
|
|
14.83
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per
share
|
|
$
0.24
|
|
$
0.32
|
|
$
0.30
|
|
$
0.29
|
|
$
0.28
|
|
$
0.25
|
|
$
0.24
|
|
(14.29)
|
|
$
0.86
|
|
$
0.77
|
|
11.69
|
Diluted earnings per
share
|
|
0.24
|
|
0.32
|
|
0.30
|
|
0.29
|
|
0.28
|
|
0.25
|
|
0.24
|
|
(14.29)
|
|
0.85
|
|
0.77
|
|
10.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average basic shares
outstanding
|
|
27,234,927
|
|
25,223,749
|
|
25,186,229
|
|
25,129,932
|
|
25,114,672
|
|
25,110,709
|
|
25,078,996
|
|
8.44
|
|
25,889,139
|
|
25,101,507
|
|
3.14
|
Average diluted
shares outstanding
|
|
27,447,382
|
|
25,373,868
|
|
25,288,785
|
|
25,259,048
|
|
25,220,887
|
|
25,149,360
|
|
25,138,213
|
|
8.83
|
|
26,053,173
|
|
25,161,911
|
|
3.54
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares
outstanding
|
|
31,358,583
|
|
25,231,074
|
|
25,208,733
|
|
25,157,637
|
|
25,120,412
|
|
25,113,894
|
|
25,105,732
|
|
24.83
|
|
31,358,583
|
|
25,120,412
|
|
24.83
|
Cash dividend per
common share
|
|
$
0.17
|
|
$
0.17
|
|
$
0.17
|
|
$
0.17
|
|
$
0.17
|
|
$
0.17
|
|
$
0.17
|
|
-
|
|
$
0.51
|
|
$
0.51
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance
ratios
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
shareholders' equity
|
|
4.75%
|
|
6.35%
|
|
6.12%
|
|
5.80%
|
|
5.65%
|
|
5.19%
|
|
4.88%
|
|
|
|
5.71%
|
|
5.24%
|
|
|
Return on average
tangible shareholders' equity
|
|
8.74%
|
|
10.47%
|
|
10.19%
|
|
9.73%
|
|
9.61%
|
|
8.86%
|
|
8.39%
|
|
|
|
9.78%
|
|
8.95%
|
|
|
Return on average
assets
|
|
0.56%
|
|
0.76%
|
|
0.73%
|
|
0.70%
|
|
0.69%
|
|
0.62%
|
|
0.57%
|
|
|
|
0.68%
|
|
0.62%
|
|
|
Return on average
tangible assets
|
|
0.63%
|
|
0.82%
|
|
0.79%
|
|
0.76%
|
|
0.75%
|
|
0.68%
|
|
0.62%
|
|
|
|
0.74%
|
|
0.68%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest margin
(FTE)
|
|
3.86%
|
|
3.88%
|
|
3.89%
|
|
3.97%
|
|
3.94%
|
|
3.99%
|
|
3.85%
|
|
|
|
3.88%
|
|
3.93%
|
|
|
Yield on earning
assets (FTE)
|
|
4.42%
|
|
4.49%
|
|
4.51%
|
|
4.61%
|
|
4.63%
|
|
4.74%
|
|
4.71%
|
|
|
|
4.47%
|
|
4.69%
|
|
|
Cost of
funding
|
|
0.57%
|
|
0.60%
|
|
0.62%
|
|
0.64%
|
|
0.68%
|
|
0.74%
|
|
0.84%
|
|
|
|
0.59%
|
|
0.75%
|
|
|
Average earning
assets to average assets
|
|
87.43%
|
|
87.32%
|
|
86.31%
|
|
86.01%
|
|
85.62%
|
|
85.39%
|
|
84.88%
|
|
|
|
87.04%
|
|
85.18%
|
|
|
Average loans to
average deposits
|
|
81.69%
|
|
80.93%
|
|
80.30%
|
|
82.21%
|
|
81.33%
|
|
76.89%
|
|
75.45%
|
|
|
|
81.00%
|
|
77.88%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest income
(less securities gains/
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
losses) to average
assets
|
|
1.59%
|
|
1.64%
|
|
1.67%
|
|
1.71%
|
|
1.76%
|
|
1.50%
|
|
1.48%
|
|
|
|
1.63%
|
|
1.57%
|
|
|
Noninterest expense
(less debt prepayment penalties/
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
merger-related
expenses) to average assets
|
|
3.59%
|
|
3.54%
|
|
3.63%
|
|
3.69%
|
|
3.77%
|
|
3.58%
|
|
3.41%
|
|
|
|
3.59%
|
|
3.58%
|
|
|
Net overhead
ratio
|
|
2.01%
|
|
1.90%
|
|
1.95%
|
|
1.98%
|
|
2.01%
|
|
2.08%
|
|
1.93%
|
|
|
|
1.96%
|
|
2.00%
|
|
|
Efficiency ratio
(FTE)**
|
|
72.47%
|
|
70.33%
|
|
72.13%
|
|
72.05%
|
|
73.46%
|
|
73.00%
|
|
71.72%
|
|
|
|
71.67%
|
|
72.73%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
**Excludes debt
extinguishment penalties and merger-related expenses from
noninterest expense and profit (loss) on sales of securities and
gains on acquisitions from noninterest income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RENASANT
CORPORATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q3 2013
-
|
|
For the Nine
Months
|
|
|
|
2013
|
|
2012
|
|
Q3
2012
|
|
Ended September
30,
|
|
|
|
Third
|
|
Second
|
|
First
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
Percent
|
|
|
|
|
|
Percent
|
Average
balances
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Variance
|
|
2013
|
|
2012
|
|
Variance
|
Total
assets
|
|
$
4,729,079
|
|
$
4,231,947
|
|
$
4,206,411
|
|
$
4,128,508
|
|
$
4,078,333
|
|
$
4,123,373
|
|
$
4,222,376
|
|
15.96
|
|
$
4,391,370
|
|
$
4,146,847
|
|
5.90
|
Earning
assets
|
|
4,134,730
|
|
3,695,409
|
|
3,630,759
|
|
3,551,026
|
|
3,491,941
|
|
3,521,099
|
|
3,583,957
|
|
18.41
|
|
3,822,145
|
|
3,532,185
|
|
8.21
|
Securities
|
|
819,351
|
|
754,515
|
|
698,863
|
|
665,578
|
|
682,123
|
|
793,353
|
|
813,826
|
|
20.12
|
|
758,018
|
|
762,805
|
|
(0.63)
|
Mortgage loans held
for sale
|
|
37,056
|
|
32,318
|
|
22,347
|
|
29,331
|
|
24,514
|
|
19,237
|
|
23,938
|
|
51.16
|
|
30,627
|
|
37,604
|
|
(18.55)
|
Loans, net of
unearned
|
|
3,213,853
|
|
2,845,260
|
|
2,804,618
|
|
2,798,591
|
|
2,729,503
|
|
2,628,084
|
|
2,590,062
|
|
17.74
|
|
2,956,076
|
|
2,672,079
|
|
10.63
|
Intangibles
|
|
227,606
|
|
190,362
|
|
190,787
|
|
191,086
|
|
191,442
|
|
191,788
|
|
192,429
|
|
18.89
|
|
203,053
|
|
191,789
|
|
5.87
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
Noninterest-bearing
deposits
|
|
$
660,415
|
|
$
562,104
|
|
$
549,514
|
|
$
564,440
|
|
$
543,767
|
|
$
531,209
|
|
$
534,867
|
|
21.45
|
|
$
591,394
|
|
$
536,640
|
|
10.20
|
Interest-bearing
deposits
|
|
3,273,658
|
|
2,953,435
|
|
2,943,247
|
|
2,839,709
|
|
2,812,140
|
|
2,886,878
|
|
2,897,750
|
|
16.41
|
|
3,057,991
|
|
2,865,394
|
|
6.72
|
|
Total
deposits
|
|
3,934,073
|
|
3,515,539
|
|
3,492,761
|
|
3,404,149
|
|
3,355,907
|
|
3,418,087
|
|
3,432,617
|
|
17.23
|
|
3,649,385
|
|
3,402,034
|
|
7.27
|
Borrowed
funds
|
|
189,909
|
|
164,894
|
|
163,981
|
|
175,876
|
|
177,016
|
|
168,856
|
|
238,937
|
|
7.28
|
|
173,023
|
|
194,871
|
|
(11.21)
|
Shareholders'
equity
|
|
553,772
|
|
506,225
|
|
501,634
|
|
499,088
|
|
495,220
|
|
492,164
|
|
492,092
|
|
11.82
|
|
520,734
|
|
493,279
|
|
5.57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances at period
end
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
$
5,735,865
|
|
$
4,242,401
|
|
$
4,267,658
|
|
$
4,178,616
|
|
$
4,164,606
|
|
$
4,112,377
|
|
$
4,176,490
|
|
37.73
|
|
$
5,735,865
|
|
$
4,164,606
|
|
37.73
|
Earning
assets
|
|
4,972,051
|
|
3,715,321
|
|
3,706,707
|
|
3,588,370
|
|
3,595,576
|
|
3,510,654
|
|
3,551,825
|
|
38.28
|
|
4,972,051
|
|
3,595,576
|
|
38.28
|
Securities
|
|
915,869
|
|
746,530
|
|
740,613
|
|
674,077
|
|
680,679
|
|
676,721
|
|
834,419
|
|
34.55
|
|
915,869
|
|
680,679
|
|
34.55
|
Mortgage loans held
for sale
|
|
28,466
|
|
50,268
|
|
26,286
|
|
34,845
|
|
39,131
|
|
25,386
|
|
25,216
|
|
(27.25)
|
|
28,466
|
|
39,131
|
|
(27.25)
|
Loans acquired from
M&F
|
|
891,420
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
891,420
|
|
-
|
|
|
Loans not subject to
loss share
|
|
2,794,116
|
|
2,683,017
|
|
2,594,438
|
|
2,573,165
|
|
2,539,618
|
|
2,392,349
|
|
2,281,957
|
|
10.02
|
|
2,794,116
|
|
2,539,618
|
|
10.02
|
Loans subject to loss
share
|
|
195,996
|
|
201,494
|
|
213,872
|
|
237,088
|
|
260,545
|
|
289,685
|
|
318,089
|
|
(24.77)
|
|
195,996
|
|
260,545
|
|
(24.77)
|
|
Total
loans
|
|
3,881,532
|
|
2,884,511
|
|
2,808,310
|
|
2,810,253
|
|
2,800,163
|
|
2,682,034
|
|
2,600,046
|
|
38.62
|
|
3,881,532
|
|
2,800,163
|
|
38.62
|
Intangibles
|
|
305,065
|
|
190,208
|
|
190,522
|
|
190,925
|
|
191,258
|
|
191,258
|
|
191,967
|
|
59.50
|
|
305,065
|
|
191,258
|
|
59.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
deposits
|
|
$
876,138
|
|
$
560,965
|
|
$
567,065
|
|
$
568,214
|
|
$
554,581
|
|
$
539,237
|
|
$
535,955
|
|
57.98
|
|
$
876,138
|
|
$
554,581
|
|
57.98
|
Interest-bearing
deposits
|
|
3,958,618
|
|
2,944,193
|
|
2,988,110
|
|
2,893,007
|
|
2,841,447
|
|
2,866,959
|
|
2,937,211
|
|
39.32
|
|
3,958,618
|
|
2,841,447
|
|
39.32
|
|
Total
deposits
|
|
4,834,756
|
|
3,505,158
|
|
3,555,175
|
|
3,461,221
|
|
3,396,028
|
|
3,406,196
|
|
3,473,166
|
|
42.37
|
|
4,834,756
|
|
3,396,028
|
|
42.37
|
Borrowed
funds
|
|
177,168
|
|
195,789
|
|
164,063
|
|
164,706
|
|
222,907
|
|
169,979
|
|
171,753
|
|
(20.52)
|
|
177,168
|
|
222,907
|
|
(20.52)
|
Shareholders'
equity
|
|
657,256
|
|
500,678
|
|
502,375
|
|
498,208
|
|
496,824
|
|
491,534
|
|
489,611
|
|
32.29
|
|
657,256
|
|
496,824
|
|
32.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market value per
common share
|
|
$
27.17
|
|
$
24.34
|
|
$
22.38
|
|
$
19.14
|
|
$
19.61
|
|
$
15.71
|
|
$
16.28
|
|
38.55
|
|
$
27.17
|
|
$
19.61
|
|
38.55
|
Book value per common
share
|
|
20.96
|
|
19.84
|
|
19.93
|
|
19.80
|
|
19.78
|
|
19.57
|
|
19.50
|
|
5.96
|
|
20.96
|
|
19.78
|
|
5.97
|
Tangible book value
per common share
|
|
11.23
|
|
12.31
|
|
12.37
|
|
12.21
|
|
12.16
|
|
11.94
|
|
11.86
|
|
(7.64)
|
|
11.23
|
|
12.16
|
|
(7.65)
|
Shareholders' equity
to assets (actual)
|
|
11.46%
|
|
11.80%
|
|
11.77%
|
|
11.92%
|
|
11.93%
|
|
11.95%
|
|
11.72%
|
|
|
|
11.46%
|
|
11.93%
|
|
|
Tangible capital
ratio
|
|
6.49%
|
|
7.66%
|
|
7.65%
|
|
7.71%
|
|
7.69%
|
|
7.65%
|
|
7.47%
|
|
|
|
6.49%
|
|
7.69%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leverage
ratio
|
|
8.66%
|
|
9.83%
|
|
9.79%
|
|
9.86%
|
|
9.90%
|
|
9.68%
|
|
9.38%
|
|
|
|
8.66%
|
|
9.90%
|
|
|
Tier 1 risk-based
capital ratio
|
|
11.40%
|
|
12.87%
|
|
12.86%
|
|
12.74%
|
|
12.73%
|
|
13.14%
|
|
13.32%
|
|
|
|
11.40%
|
|
12.73%
|
|
|
Total risk-based
capital ratio
|
|
12.53%
|
|
14.14%
|
|
14.13%
|
|
14.00%
|
|
14.00%
|
|
14.39%
|
|
14.57%
|
|
|
|
12.53%
|
|
14.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RENASANT
CORPORATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q3 2013
-
|
|
For the Nine
Months
|
|
|
|
2013
|
|
2012
|
|
Q3
2012
|
|
Ended September
30,
|
|
|
|
Third
|
|
Second
|
|
First
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
Percent
|
|
|
|
|
|
Percent
|
Loans not subject
to loss share by category
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Variance
|
|
2013
|
|
2012
|
|
Variance
|
Commercial,
financial, agricultural
|
|
$
331,142
|
|
$
307,718
|
|
$
298,013
|
|
$
306,250
|
|
$
299,774
|
|
$
280,515
|
|
$
263,720
|
|
10.46
|
|
$
331,142
|
|
$
299,774
|
|
10.46
|
Lease
financing
|
|
75
|
|
103
|
|
162
|
|
190
|
|
217
|
|
245
|
|
302
|
|
(65.44)
|
|
75
|
|
$
217
|
|
(65.44)
|
Real estate -
construction
|
|
127,013
|
|
117,339
|
|
109,484
|
|
104,058
|
|
103,522
|
|
73,109
|
|
67,223
|
|
22.69
|
|
127,013
|
|
$
103,522
|
|
22.69
|
Real estate - 1-4
family mortgages
|
|
891,422
|
|
859,884
|
|
834,204
|
|
829,975
|
|
801,612
|
|
771,161
|
|
738,765
|
|
11.20
|
|
891,422
|
|
$
801,612
|
|
11.20
|
Real estate -
commercial mortgages
|
|
1,383,680
|
|
1,335,402
|
|
1,295,213
|
|
1,275,482
|
|
1,275,386
|
|
1,208,057
|
|
1,153,423
|
|
8.49
|
|
1,383,680
|
|
$
1,275,386
|
|
8.49
|
Installment loans to
individuals
|
|
60,784
|
|
62,571
|
|
57,362
|
|
57,210
|
|
59,107
|
|
59,262
|
|
58,524
|
|
2.84
|
|
60,784
|
|
$
59,107
|
|
2.84
|
|
Loans, net of
unearned
|
|
$
2,794,116
|
|
$
2,683,017
|
|
$
2,594,438
|
|
$
2,573,165
|
|
$
2,539,618
|
|
$
2,392,349
|
|
$
2,281,957
|
|
10.02
|
|
$
2,794,116
|
|
$
2,539,618
|
|
10.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans subject to
loss share by category
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial,
financial, agricultural
|
|
$
10,280
|
|
$
10,283
|
|
$
10,157
|
|
$
10,800
|
|
$
11,282
|
|
$
12,758
|
|
$
15,206
|
|
(8.88)
|
|
$
10,280
|
|
$
11,282
|
|
(8.88)
|
Lease
financing
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
$
-
|
|
-
|
Real estate -
construction
|
|
1,648
|
|
1,648
|
|
1,648
|
|
1,648
|
|
1,932
|
|
6,093
|
|
6,202
|
|
(14.70)
|
|
1,648
|
|
$
1,932
|
|
(14.70)
|
Real estate - 1-4
family mortgages
|
|
56,722
|
|
60,409
|
|
65,489
|
|
73,448
|
|
81,784
|
|
91,605
|
|
99,769
|
|
(30.64)
|
|
56,722
|
|
$
81,784
|
|
(30.64)
|
Real estate -
commercial mortgages
|
|
127,315
|
|
129,120
|
|
136,541
|
|
151,161
|
|
165,494
|
|
179,160
|
|
196,754
|
|
(23.07)
|
|
127,315
|
|
$
165,494
|
|
(23.07)
|
Installment loans to
individuals
|
|
31
|
|
34
|
|
37
|
|
31
|
|
53
|
|
69
|
|
158
|
|
(41.51)
|
|
31
|
|
$
53
|
|
(41.51)
|
|
Loans, net of
unearned
|
|
$
195,996
|
|
$
201,494
|
|
$
213,872
|
|
$
237,088
|
|
$
260,545
|
|
$
289,685
|
|
$
318,089
|
|
(24.77)
|
|
$
195,996
|
|
$
260,545
|
|
(24.77)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans Acquired
from M&F
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial,
financial, agricultural
|
|
$
139,821
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
-
|
|
$
139,821
|
|
$
-
|
|
-
|
Lease
financing
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
$
-
|
|
-
|
Real estate -
construction
|
|
23,556
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
23,556
|
|
$
-
|
|
-
|
Real estate - 1-4
family mortgages
|
|
244,079
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
244,079
|
|
$
-
|
|
-
|
Real estate -
commercial mortgages
|
|
449,589
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
449,589
|
|
$
-
|
|
-
|
Installment loans to
individuals
|
|
34,375
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
34,375
|
|
$
-
|
|
-
|
|
Loans, net of
unearned
|
|
$
891,420
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
-
|
|
$
891,420
|
|
$
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset quality
data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets not subject
to loss share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
|
$
19,995
|
|
$
20,554
|
|
$
25,382
|
|
$
26,881
|
|
$
29,677
|
|
$
26,099
|
|
$
26,999
|
|
(32.62)
|
|
$
19,995
|
|
$
29,677
|
|
(32.62)
|
Loans 90 past due or
more
|
|
2,078
|
|
1,983
|
|
2,601
|
|
3,307
|
|
2,358
|
|
3,864
|
|
3,435
|
|
(11.87)
|
|
2,078
|
|
$
2,358
|
|
(11.87)
|
Nonperforming
loans
|
|
22,073
|
|
22,537
|
|
27,983
|
|
30,188
|
|
32,035
|
|
29,963
|
|
30,434
|
|
(31.10)
|
|
22,073
|
|
32,035
|
|
(31.10)
|
Other real estate
owned
|
|
27,357
|
|
33,247
|
|
39,786
|
|
44,717
|
|
48,568
|
|
58,384
|
|
64,931
|
|
(43.67)
|
|
27,357
|
|
48,568
|
|
(43.67)
|
Nonperforming assets
not subject to loss share
|
|
$
49,430
|
|
$
55,784
|
|
$
67,769
|
|
$
74,905
|
|
$
80,603
|
|
$
88,347
|
|
$
95,365
|
|
(38.67)
|
|
$
49,430
|
|
$
80,603
|
|
(38.67)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets subject to
loss share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
|
$
49,585
|
|
$
47,281
|
|
$
47,972
|
|
$
53,186
|
|
$
64,080
|
|
$
65,386
|
|
$
78,418
|
|
(22.62)
|
|
$
49,585
|
|
$
64,080
|
|
(22.62)
|
Loans 90 past due or
more
|
|
505
|
|
126
|
|
-
|
|
-
|
|
-
|
|
199
|
|
1,397
|
|
-
|
|
505
|
|
-
|
|
-
|
Non-performing loans
subject to loss share
|
|
50,090
|
|
47,407
|
|
47,972
|
|
53,186
|
|
64,080
|
|
65,585
|
|
79,815
|
|
(21.83)
|
|
50,090
|
|
64,080
|
|
(21.83)
|
Other real estate
owned
|
|
16,580
|
|
27,835
|
|
35,095
|
|
45,534
|
|
41,615
|
|
37,951
|
|
35,461
|
|
(60.16)
|
|
16,580
|
|
41,615
|
|
(60.16)
|
Nonperforming assets
subject to loss share
|
|
$
66,670
|
|
$
75,242
|
|
$
83,067
|
|
$
98,720
|
|
$
105,695
|
|
$
103,536
|
|
$
115,276
|
|
(36.92)
|
|
$
66,670
|
|
$
105,695
|
|
(36.92)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets acquired
from M&F:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
|
$
224
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
-
|
|
224
|
|
$
-
|
|
-
|
Loans 90 past due or
more
|
|
8,568
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
8,568
|
|
-
|
|
-
|
Nonperforming
loans
|
|
8,792
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
8,792
|
|
-
|
|
-
|
Other real estate
owned
|
|
13,223
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
13,223
|
|
-
|
|
-
|
Nonperforming assets
not subject to loss share
|
|
$
22,015
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
-
|
|
$
22,015
|
|
$
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loan charge-offs
(recoveries)
|
|
$
3,084
|
|
$
2,471
|
|
$
893
|
|
$
3,722
|
|
$
5,335
|
|
$
4,097
|
|
$
4,964
|
|
(42.19)
|
|
$
6,448
|
|
$
14,396
|
|
(55.21)
|
Allowance for loan
losses
|
|
46,250
|
|
47,034
|
|
46,505
|
|
44,347
|
|
44,069
|
|
44,779
|
|
44,176
|
|
4.95
|
|
46,250
|
|
44,069
|
|
4.95
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming loans /
total loans*
|
|
0.84%
|
|
0.84%
|
|
1.08%
|
|
1.17%
|
|
1.26%
|
|
1.25%
|
|
1.33%
|
|
|
|
0.84%
|
|
1.26%
|
|
|
Nonperforming assets
/ total assets*
|
|
1.25%
|
|
1.31%
|
|
1.59%
|
|
1.79%
|
|
1.94%
|
|
2.15%
|
|
2.28%
|
|
|
|
1.25%
|
|
1.94%
|
|
|
Allowance for loan
losses / total loans*
|
|
1.25%
|
|
1.75%
|
|
1.79%
|
|
1.72%
|
|
1.74%
|
|
1.87%
|
|
1.94%
|
|
|
|
1.25%
|
|
1.74%
|
|
|
Allowance for loan
losses / nonperforming loans*
|
|
149.85%
|
|
208.70%
|
|
166.19%
|
|
146.90%
|
|
137.57%
|
|
149.45%
|
|
145.15%
|
|
|
|
149.85%
|
|
137.57%
|
|
|
Annualized net loan
charge-offs / average loans
|
|
0.38%
|
|
0.35%
|
|
0.13%
|
|
0.53%
|
|
0.78%
|
|
0.63%
|
|
0.77%
|
|
|
|
0.29%
|
|
0.72%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming loans /
total loans**
|
|
0.79%
|
|
0.84%
|
|
1.08%
|
|
1.17%
|
|
1.26%
|
|
1.25%
|
|
1.33%
|
|
|
|
0.79%
|
|
1.26%
|
|
|
Nonperforming assets
/ total assets**
|
|
0.86%
|
|
1.31%
|
|
1.59%
|
|
1.79%
|
|
1.94%
|
|
2.15%
|
|
2.28%
|
|
|
|
0.86%
|
|
1.94%
|
|
|
Allowance for loan
losses / total loans**
|
|
1.66%
|
|
1.75%
|
|
1.79%
|
|
1.72%
|
|
1.74%
|
|
1.87%
|
|
1.94%
|
|
|
|
1.66%
|
|
1.74%
|
|
|
Allowance for loan
losses / nonperforming loans**
|
|
209.53%
|
|
208.70%
|
|
166.19%
|
|
146.90%
|
|
137.57%
|
|
149.45%
|
|
145.15%
|
|
|
|
209.53%
|
|
137.57%
|
|
|
Annualized net loan
charge-offs / average loans
|
|
0.38%
|
|
0.35%
|
|
0.13%
|
|
0.53%
|
|
0.78%
|
|
0.63%
|
|
0.77%
|
|
|
|
0.29%
|
|
0.72%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Based on assets not
subject to loss share (includes assets acquired from
M&F)
|
|
|
|
|
|
|
|
|
**Excludes assets
acquired from M&F and assets covered under loss
share
|
|
|
|
|
|
|
SOURCE Renasant Corporation