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

“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,” said 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 a 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, compared with 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 it is authorized to repurchase outstanding shares of its common stock 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 decreases 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 with 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 with 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 with 2.77% at March 31, 2026.

Conference Call Information

A live audio webcast of a conference call with analysts will begin 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 To access the conference by 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.

The webcast will be archived on www.renasant.com after the call and will remain accessible for one year. A replay can be accessed by 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. It 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 otherwise including words such as “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 current beliefs and expectations of management. Management believes these forward-looking statements are reasonable, but they are inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Company’s control. These statements are also subject to assumptions about future business strategies and decisions that may change. Actual results may differ materially from those indicated or implied by the forward-looking statements.

Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Investors should not place undue reliance on these statements, which speak only as of the date they are made.

Important factors currently known to management that could cause actual results to differ materially include: (i) the Company’s ability to integrate acquisitions, retain customers, grow acquired operations and realize expected cost savings; (ii) potential exposure to unknown or contingent risks and liabilities associated with acquired businesses; (iii) the effect of economic conditions and interest rates on a national, regional or international basis; (iv) the timing and success of operational changes intended to enhance earnings or achieve cost savings; (v) the Company’s ability to remediate the material weakness in internal control over financial reporting identified in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026; (vi) competitive pressures in consumer finance, commercial finance, financial services, asset management, retail banking, factoring, mortgage lending and auto lending; (vii) the financial resources of competitors and the products available from them; (viii) changes in laws, regulations and accounting standards; (ix) changes in governmental and regulatory policy, including trade policy; (x) changes in securities and foreign exchange markets; (xi) the Company’s growth, including entry into or expansion in 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 repayment ability, 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 capital used to make loans and fund operations, including deposit outflows, changes in deposit mix, and the cost and availability of borrowings; (xv) general economic, market or business conditions, including 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 spread relationships; (xix) losses from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting customers, employees and third-party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including 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 government responses to such acts or threats and/or military conflicts; (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 the assumptions underlying these forward-looking statements are reasonable, but any of the assumptions could prove inaccurate. Investors are urged to carefully consider the risks described in the Company’s SEC filings, 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, changed assumptions, unanticipated events or changes to future operating results, 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 contain non-GAAP financial measures, including: (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, including 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, the timing and amount of which the Company is unable to predict accurately. Management uses these measures when evaluating capital utilization and adequacy. The Company also believes they facilitate period-to-period comparisons and provide meaningful indicators of operating performance, particularly because they are widely used by industry analysts for companies with merger and acquisition activity.

Because intangible assets such as goodwill and the core deposit intangible can vary significantly from company to company and are excluded from the calculation of a financial institution’s regulatory capital, the Company believes that these non-GAAP measures help readers compare its results with other regulatory reports and with results from other companies. Reconciliations to the most directly comparable GAAP measures are included in the tables below.

None of the non-GAAP financial information included in this release or the accompanying presentation slides is intended to be considered in isolation or as a substitute for measures prepared in accordance with GAAP. Investors should note that these calculations may not be comparable to similarly titled measures presented by other companies because there are no standardized definitions. The Company also notes that there may be limits to the usefulness of these measures. Readers are encouraged to consider the consolidated financial statements in their entirety and not rely on any single financial measure.

Non-GAAP Reconciliations

(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.