Renasant Corporation Announces Earnings For The Third Quarter Of 2026

(MENAFN- GlobeNewsWire - Nasdaq) TUPELO, Miss., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (the“Company”) today announced earnings results for the third quarter of 2026.

(Dollars in thousands, except earnings per share)	Three Months Ended		Nine Months Ended
	Sep 30, 2026	Jun 30, 2026	Sep 30, 2025		Sep 30, 2026	Sep 30, 2025
Net income and Earnings per share:
Net income	$	78,949	$	87,091	$	59,788			$	254,268	$	102,324
Merger and conversion related expenses (net of tax)		-		-		(13,129	)			-		(29,561	)
Day 1 acquisition provision (net of tax)		-		-		-				-		(50,026	)
Basic EPS		0.87		0.95		0.63				2.76		1.21
Diluted EPS		0.86		0.94		0.63				2.74		1.20
Adjusted diluted EPS (non-GAAP)(1)		0.86		0.94		0.77				2.74		2.13
Impact to diluted EPS from merger and conversion related expenses (net of tax)		-		-		(0.14	)			-		(0.35	)
Impact to diluted EPS from Day 1 acquisition provision (net of tax)		-		-		-				-		(0.59	)

“Third quarter results reflect strong loan growth with a record level of loan production, continued momentum in core deposit growth and a stable core net interest margin. We maintained expense discipline alongside increased hiring efforts, were active in buybacks, and reduced our levels of criticized and nonperforming loans. We believe our team is well-positioned to build upon our year-to-date success as we grow customer relationships and hire talent throughout our footprint,” remarked Kevin D. Chapman, President and Chief Executive Officer of the Company.

Quarterly Highlights

Earnings

• Net income for the third quarter of 2026 was $78.9 million; both diluted EPS and adjusted diluted EPS (non-GAAP)⁽¹⁾were $0.86
• Net interest income, on a fully tax equivalent basis, for the third quarter of 2026 was $228.6 million, up $0.9 million linked quarter
• Net interest margin, on a fully tax equivalent basis, for the third quarter of 2026 was 3.77%, down 6 basis points linked quarter. Adjusted net interest margin (non-GAAP)⁽¹⁾ was 3.58%, down 3 basis points linked quarter
• Cost of total deposits was 1.97% for the third quarter of 2026, up 1 basis point linked quarter
• Noninterest income decreased $1.9 million linked quarter, primarily due to rising mortgage interest rates that resulted in both decreased production of new loans and market value adjustments on pending loan sales
• Mortgage banking income decreased $1.9 million linked quarter. The mortgage division generated $520.6 million in interest rate lock volume in the third quarter of 2026, down $91.0 million linked quarter. Gain on sale margin was 1.75% for the third quarter of 2026, up 18 basis points linked quarter
• Noninterest expense decreased $1.2 million linked quarter, driven primarily by a decline in deferred compensation expense tied to market valuations and an increase in deferred loan costs driven by loan growth, partially offset by higher health insurance claims
  

Balance Sheet

• Loans increased $555.9 million linked quarter, representing an 11.5% annualized net loan increase, driven by strong production during the quarter and lower payoff activity on a linked quarter basis
• Securities decreased $33.1 million linked quarter. The Company purchased $196.9 million in securities during the third quarter, which was offset by a negative fair market value adjustment in the Company's available-for-sale portfolio of $86.0 million and cash flows related to principal payments, calls and maturities of $153.5 million
• Deposits at September 30, 2026 decreased $73.2 million linked quarter. Outflows in public fund deposits of $214.7 million were partially offset by growth in consumer and commercial deposits. Noninterest bearing deposits represented 23.1% of total deposits at September 30, 2026 as compared to 23.2% at June 30, 2026
• Short-term borrowings increased $491.3 million linked quarter
• The Company redeemed $40.0 million in subordinated notes on September 1, 2026
  

Capital and Stock Repurchase Program

• Book value per share and tangible book value per share (non-GAAP)⁽¹⁾ increased 0.1% and decreased 0.2%, respectively, linked quarter
• During the third quarter of 2026, the Company repurchased $42.6 million of common stock at a weighted average price of $41.05 per share
• Effective October 27, 2026, the Company's Board of Directors approved a $175.0 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. This program, which will remain in effect until the earlier of October 2027 or the repurchase of the entire amount authorized under the plan, replaces the Company's stock repurchase program that expired in October 2026
  

Credit Quality

• The Company recorded a provision for credit losses on loans and unfunded commitments of $10.1 million and $3.2 million, respectively, for the third quarter of 2026, representing an increase of $8.9 million and $0.6 million, respectively, linked quarter, primarily driven by growth in loans and unfunded commitments
• The ratio of the allowance for credit losses on loans to total loans was 1.50% at September 30, 2026, down 4 basis points linked quarter. The lower ACL ratio was primarily attributable to continued improvement in overall credit quality metrics and movements in the specific reserve, partially offset by strong loan growth during the quarter
• The coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 168.75% at September 30, 2026, compared to 158.73% at June 30, 2026
• Net loan charge-offs for the third quarter of 2026 were $10.0 million, or 0.20% annualized, of which 16 bps were attributable to a single credit
• Nonperforming loans to total loans decreased to 0.89% at September 30, 2026 compared to 0.97% at June 30, 2026, and criticized loans (which include classified and special mention loans) to total loans decreased to 2.50% at September 30, 2026, compared to 2.66% at June 30, 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		Nine Months Ended
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025		Sep 30, 2026	Sep 30, 2025
Interest income
Loans held for investment	$	304,902	$	296,346	$	295,397	$	305,604	$	308,110		$	896,645	$	806,470
Loans held for sale		2,983		3,329		2,876		3,617		4,675			9,188		12,322
Securities		34,441		35,660		32,266		30,232		30,217			102,367		70,742
Other		5,009		5,105		7,581		7,480		8,096			17,695		25,792
Total interest income		347,335		340,440		338,120		346,933		351,098			1,025,895		915,326
Interest expense
Deposits		107,022		106,398		103,860		105,673		115,573			317,280		306,880
Borrowings		16,624		11,288		10,701		13,867		12,005			38,613		31,870
Total interest expense		123,646		117,686		114,561		119,540		127,578			355,893		338,750
Net interest income		223,689		222,754		223,559		227,393		223,520			670,002		576,576
Provision for credit losses
Provision for loan losses		10,105		1,166		4,224		5,473		9,650			15,495		87,100
Provision for unfunded commitments		3,200		2,633		3,856		5,462		800			9,689		9,422
Total provision for credit losses		13,305		3,799		8,080		10,935		10,450			25,184		96,522
Net interest income after provision for credit losses		210,384		218,955		215,479		216,458		213,070			644,818		480,054
Noninterest income		49,275		51,190		50,272		51,125		46,026			150,737		130,755
Noninterest expense		160,334		161,501		155,328		170,750		183,830			477,163		480,910
Income before income taxes		99,325		108,644		110,423		96,833		75,266			318,392		129,899
Income taxes		20,376		21,553		22,195		17,885		15,478			64,124		27,575
Net income	$	78,949	$	87,091	$	88,228	$	78,948	$	59,788		$	254,268	$	102,324
Adjusted net income (non-GAAP)(1)	$	78,949	$	87,091	$	88,071	$	86,879	$	72,917		$	254,111	$	180,809
Adjusted pre-provision net revenue (“PPNR”) (non-GAAP)(1)	$	112,630	$	112,443	$	118,294	$	118,335	$	103,210		$	343,367	$	263,718
Basic earnings per share	$	0.87	$	0.95	$	0.94	$	0.84	$	0.63		$	2.76	$	1.21
Diluted earnings per share		0.86		0.94		0.94		0.83		0.63			2.74		1.20
Adjusted diluted earnings per share (non-GAAP)(1)		0.86		0.94		0.93		0.91		0.77			2.74		2.13
Average basic shares outstanding		90,925,375		91,650,415		93,693,615		94,469,544		94,623,551			92,079,661		84,403,694
Average diluted shares outstanding		91,557,082		92,220,282		94,228,343		95,172,380		95,284,603			92,661,200		84,934,390
Cash dividends per common share	$	0.24	$	0.24	$	0.23	$	0.23	$	0.22		$	0.71	$	0.66

⁽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		Nine Months Ended
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025		Sep 30, 2026	Sep 30, 2025
Return on average assets	1.16	%	1.30	%	1.33	%	1.17	%	0.90	%		1.26	%	0.58	%
Adjusted return on average assets (non-GAAP)(1)	1.16		1.30		1.33		1.29		1.09			1.26		1.03
Return on average tangible assets (non-GAAP)(1)	1.32		1.48		1.51		1.35		1.06			1.44		0.70
Adjusted return on average tangible assets (non-GAAP)(1)	1.32		1.48		1.51		1.47		1.27			1.44		1.17
Return on average equity	8.07		9.07		9.20		8.14		6.25			8.78		4.01
Adjusted return on average equity (non-GAAP)(1)	8.07		9.07		9.19		8.95		7.62			8.77		7.08
Return on average tangible equity (non-GAAP)(1)	14.51		16.25		16.36		14.80		11.87			15.70		7.69
Adjusted return on average tangible equity (non-GAAP)(1)	14.51		16.25		16.33		16.18		14.22			15.69		12.88
Efficiency ratio (fully taxable equivalent)	57.70		57.92		55.73		60.23		67.05			57.12		66.88
Adjusted efficiency ratio (non-GAAP)(1)	54.70		54.92		52.82		53.52		57.51			54.15		59.02
Dividend payout ratio	27.59		25.26		24.47		27.38		34.92			25.72		54.55

Capital and Balance Sheet Ratios

	As of
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025
Shares outstanding		90,356,578			91,403,230			92,881,329			94,636,207			95,020,881
Market value per share	$	38.88		$	42.54		$	36.13		$	35.22		$	36.89
Book value per share		42.41			42.35			41.63			41.05			40.26
Tangible book value per share (non-GAAP)(1)		25.29			25.34			25.00			24.65			23.77
Shareholders' equity to assets		13.93	%		14.34	%		14.27	%		14.52	%		14.31	%
Tangible common equity ratio (non-GAAP)(1)		8.80			9.10			9.08			9.26			8.98
Leverage ratio(2)		9.54			9.55			9.54			9.61			9.46
Common equity tier 1 capital ratio(2)		10.92			11.06			11.22			11.24			11.04
Tier 1 risk-based capital ratio(2)		10.92			11.06			11.22			11.24			11.04
Total risk-based capital ratio(2)		15.52			15.94			14.77			14.78			14.88

⁽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		Nine Months Ended
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025		Sep 30, 2026	Sep 30, 2025
Noninterest income
Service charges on deposit accounts	$	15,270	$	14,516	$	14,740	$	14,535	$	13,416		$	44,526	$	37,398
Fees and commissions		4,942		5,471		4,654		5,192		4,167			15,067		14,604
Wealth management revenue		9,211		9,073		8,678		8,572		8,217			26,962		22,629
Mortgage banking income		7,323		9,178		9,435		8,924		9,017			25,936		28,427
BOLI income		4,045		4,608		3,689		3,697		4,235			12,342		10,547
Other		8,484		8,344		9,076		10,205		6,974			25,904		17,150
Total noninterest income	$	49,275	$	51,190	$	50,272	$	51,125	$	46,026		$	150,737	$	130,755
Noninterest expense
Salaries and employee benefits	$	95,871	$	96,228	$	91,749	$	98,082	$	98,982		$	283,848	$	270,481
Data processing		5,411		5,037		5,221		5,636		5,541			15,669		15,068
Net occupancy and equipment		18,016		18,018		18,031		16,123		18,415			54,065		47,528
Other real estate owned		366		453		1,399		481		328			2,218		1,170
Professional fees		3,935		4,518		4,402		4,327		3,435			12,855		10,542
Advertising and public relations		4,945		4,677		4,599		4,314		5,254			14,221		14,041
Intangible amortization		8,332		8,370		8,220		8,465		8,674			24,922		18,638
Communications		3,389		3,566		4,009		4,493		3,955			10,964		9,172
Merger and conversion related expenses		-		-		-		10,567		17,494			-		38,764
Other		20,069		20,634		17,698		18,262		21,752			58,401		55,506
Total noninterest expense	$	160,334	$	161,501	$	155,328	$	170,750	$	183,830		$	477,163	$	480,910

Mortgage Banking Income

(Dollars in thousands)	Three Months Ended		Nine Months Ended
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025		Sep 30, 2026	Sep 30, 2025
Gain on sales of loans, net(1)	$	2,390	$	4,760	$	5,305	$	5,243	$	5,270		$	12,455	$	15,086
Fees, net		2,945		3,470		2,842		2,970		3,050			9,257		9,107
Mortgage servicing income, net		1,988		948		1,288		711		697			4,224		4,234
Total mortgage banking income	$	7,323	$	9,178	$	9,435	$	8,924	$	9,017		$	25,936	$	28,427

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

Balance Sheet

(Dollars in thousands)	As of
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025
Assets
Cash and cash equivalents	$	734,518		$	881,203		$	1,216,980		$	1,070,718		$	1,083,785
Securities held to maturity, at amortized cost		956,981			983,032			1,006,511			1,030,073			1,051,884
Securities available for sale, at fair value		2,835,332			2,842,424			2,809,647			2,560,818			2,512,650
Loans held for sale, at fair value		200,709			241,588			230,980			265,959			286,779
Loans held for investment		19,752,119			19,196,172			18,975,248			19,047,039			19,025,521
Allowance for credit losses on loans		(296,094	)		(296,008	)		(295,862	)		(293,955	)		(297,591	)
Loans, net		19,456,025			18,900,164			18,679,386			18,753,084			18,727,930
Premises and equipment, net		465,502			464,020			463,723			465,141			471,213
Other real estate owned		15,662			15,571			12,954			15,191			10,578
Goodwill		1,417,538			1,417,538			1,406,667			1,405,840			1,411,711
Other intangibles		129,690			138,022			138,392			146,612			155,077
Bank-owned life insurance		498,298			495,235			494,874			492,541			488,920
Mortgage servicing rights		67,129			65,816			64,850			65,271			65,466
Other assets		740,797			560,386			582,310			480,178			460,172
Total assets	$	27,518,181		$	27,004,999		$	27,107,274		$	26,751,426		$	26,726,165
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Noninterest-bearing	$	5,001,023		$	5,038,070		$	5,183,426		$	5,043,960		$	5,238,431
Interest-bearing		16,626,835			16,662,982			16,916,058			16,429,110			16,186,124
Total deposits		21,627,858			21,701,052			22,099,484			21,473,070			21,424,555
Short-term borrowings		806,481			315,225			305,863			555,774			606,063
Long-term debt		754,834			796,469			500,342			499,756			558,878
Other liabilities		496,908			320,875			334,667			337,921			310,891
Total liabilities	$	23,686,081		$	23,133,621		$	23,240,356		$	22,866,521		$	22,900,387
Shareholders' equity:
Common stock		488,612			488,612			488,612			488,612			488,612
Treasury stock		(275,384	)		(232,402	)		(173,835	)		(103,494	)		(90,297	)
Additional paid-in capital		2,394,732			2,390,839			2,388,649			2,392,997			2,389,033
Retained earnings		1,384,885			1,327,997			1,263,116			1,196,522			1,139,600
Accumulated other comprehensive loss		(160,745	)		(103,668	)		(99,624	)		(89,732	)		(101,170	)
Total shareholders' equity		3,832,100			3,871,378			3,866,918			3,884,905			3,825,778
Total liabilities and shareholders' equity	$	27,518,181		$	27,004,999		$	27,107,274		$	26,751,426		$	26,726,165

Net Interest Income and Net Interest Margin

(Dollars in thousands)	Three Months Ended
	September 30, 2026	June 30, 2026	September 30, 2025
	Average Balance	Interest Income/ Expense (1)	Yield/ Rate (1)	Average Balance	Interest Income/ Expense (1)	Yield/ Rate (1)	Average Balance	Interest Income/ Expense (1)	Yield/ Rate (1)
Interest-earning assets:
Loans held for investment	$	19,417,475	$	308,666	6.31	%	$	19,060,083	$	300,112	6.31	%	$	18,750,715	$	311,903	6.60	%
Loans held for sale		195,976		2,983	6.09	%		223,489		3,329	5.96	%		290,756		4,675	6.43	%
Taxable securities		3,490,630		31,012	3.55	%		3,472,422		29,691	3.42	%		3,243,693		27,107	3.34	%
Tax-exempt securities		454,557		4,577	4.03	%		445,249		7,106	6.38	%		428,252		3,928	3.67	%
Total securities		3,945,187		35,589	3.61	%		3,917,671		36,797	3.76	%		3,671,945		31,035	3.38	%
Interest-bearing balances with banks		557,301		5,009	3.57	%		600,075		5,105	3.41	%		814,103		8,096	3.95	%
Total interest-earning assets		24,115,939		352,247	5.80	%		23,801,318		345,343	5.82	%		23,527,519		355,709	6.01	%
Cash and due from banks		243,532				264,246				306,847
Intangible assets		1,551,577				1,546,924				1,578,846
Other assets		1,187,852				1,187,805				1,043,384
Total assets	$	27,098,900			$	26,800,293			$	26,456,596
Interest-bearing liabilities:
Interest-bearing demand(2)	$	11,284,644	$	70,759	2.49	%	$	11,647,640	$	72,261	2.49	%	$	11,521,433	$	82,080	2.83	%
Savings deposits		1,300,364		978	0.30	%		1,307,314		944	0.29	%		1,299,396		943	0.29	%
Time deposits		3,908,181		35,285	3.58	%		3,760,192		33,193	3.54	%		3,398,402		32,550	3.80	%
Total interest-bearing deposits		16,493,189		107,022	2.57	%		16,715,146		106,398	2.55	%		16,219,231		115,573	2.83	%
Borrowed funds		1,362,872		16,624	4.86	%		891,081		11,288	5.07	%		961,980		12,005	4.97	%
Total interest-bearing liabilities		17,856,061		123,646	2.75	%		17,606,227		117,686	2.68	%		17,181,211		127,578	2.95	%
Noninterest-bearing deposits		5,058,509				5,038,879				5,226,588
Other liabilities		303,699				303,586				253,801
Shareholders' equity		3,880,631				3,851,601				3,794,996
Total liabilities and shareholders' equity	$	27,098,900			$	26,800,293			$	26,456,596
Net interest income/ net interest margin (FTE)		$	228,601	3.77	%		$	227,657	3.83	%		$	228,131	3.85	%
Cost of funding			2.14	%			2.08	%			2.26	%
Cost of total deposits			1.97	%			1.96	%			2.14	%

⁽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)	Nine Months Ended
	September 30, 2026	September 30, 2025
	Average Balance	Interest Income/ Expense (1)	Yield/ Rate (1)	Average Balance	Interest Income/ Expense (1)	Yield/ Rate (1)
Interest-earning assets:
Loans held for investment	$	19,172,292	$	907,903	6.33	%	$	16,743,048	$	816,241	6.52	%
Loans held for sale		210,267		9,188	5.83	%		260,172		12,322	6.32	%
Taxable securities		3,448,380		89,564	3.46	%		2,749,580		62,995	3.05	%
Tax-exempt securities		444,278		16,225	4.87	%		384,212		9,680	3.36	%
Total securities		3,892,658		105,789	3.62	%		3,133,792		72,675	3.09	%
Interest-bearing balances with banks		659,385		17,695	3.59	%		846,844		25,792	4.07	%
Total interest-earning assets		23,934,602		1,040,575	5.81	%		20,983,856		927,030	5.90	%
Cash and due from banks		265,958				282,476
Intangible assets		1,548,927				1,392,393
Other assets		1,169,591				915,322
Total assets	$	26,919,078			$	23,574,047
Interest-bearing liabilities:
Interest-bearing demand(2)	$	11,556,200	$	215,045	2.49	%	$	10,196,332	$	213,332	2.80	%
Savings deposits		1,299,042		2,798	0.29	%		1,146,732		2,686	0.31	%
Time deposits		3,751,960		99,437	3.54	%		3,095,753		90,862	3.92	%
Total interest-bearing deposits		16,607,202		317,280	2.55	%		14,438,817		306,880	2.84	%
Borrowed funds		1,077,117		38,613	4.79	%		853,071		31,870	4.99	%
Total interest-bearing liabilities		17,684,319		355,893	2.69	%		15,291,888		338,750	2.96	%
Noninterest-bearing deposits		5,061,957				4,629,790
Other liabilities		299,227				237,417
Shareholders' equity		3,873,575				3,414,952
Total liabilities and shareholders' equity	$	26,919,078			$	23,574,047
Net interest income/ net interest margin (FTE)		$	684,682	3.82	%		$	588,280	3.75	%
Cost of funding			2.09	%			2.27	%
Cost of total deposits			1.96	%			2.15	%

⁽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
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025
Loan Portfolio:
Real estate - 1-4 family mortgage	$	4,632,718	$	4,568,039	$	4,584,118	$	4,635,033	$	4,642,657
Construction and Land Development		2,112,023		2,009,664		1,898,629		1,905,636		1,990,657
Commercial Real Estate - Non-Owner Occupied		6,373,047		6,123,500		6,135,543		6,245,480		6,120,677
Commercial Real Estate - Owner Occupied		3,388,836		3,332,728		3,357,965		3,334,664		3,321,186
Commercial and Industrial		3,150,897		3,063,069		2,895,477		2,818,326		2,834,669
Consumer		94,598		99,172		103,516		107,900		115,675
Total loans	$	19,752,119	$	19,196,172	$	18,975,248	$	19,047,039	$	19,025,521

Credit Quality and Allowance for Credit Losses on Loans

(Dollars in thousands)	As of
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025
Nonperforming Assets:
Nonaccruing loans	$	175,143		$	186,432		$	197,515		$	175,730		$	170,756
Loans 90 days or more past due		315			51			2,779			288			792
Total nonperforming loans		175,458			186,483			200,294			176,018			171,548
Other real estate owned		15,662			15,571			12,954			15,191			10,578
Total nonperforming assets	$	191,120		$	202,054		$	213,248		$	191,209		$	182,126
Criticized Loans
Classified loans	$	337,674		$	336,816		$	349,068		$	359,235		$	392,721
Special Mention loans		155,835			173,401			176,345			201,428			219,792
Criticized loans	$	493,509		$	510,217		$	525,413		$	560,663		$	612,513
Allowance for credit losses on loans	$	296,094		$	296,008		$	295,862		$	293,955		$	297,591
Net loan charge-offs	$	10,019		$	2,770		$	2,317		$	9,109		$	4,339
Annualized net loan charge-offs / average loans		0.20	%		0.06	%		0.05	%		0.19	%		0.09	%
Nonperforming loans / total loans		0.89			0.97			1.06			0.92			0.90
Nonperforming assets / total assets		0.69			0.75			0.79			0.71			0.68
Allowance for credit losses on loans / total loans		1.50			1.54			1.56			1.54			1.56
Allowance for credit losses on loans / nonperforming loans		168.75			158.73			147.71			167.00			173.47
Criticized loans / total loans		2.50			2.66			2.77			2.94			3.22

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, October 28, 2026.

The webcast is accessible through Renasant's investor relations website at or . To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2026 Third 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 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 2791840 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until November 11, 2026.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank, a 122-year-old financial services institution. Renasant has assets of approximately $27.5 billion and operates 278 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 and the SEC's website at .

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 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)), and (ix) 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 is 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		Nine Months Ended
	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025		Sep 30, 2026	Sep 30, 2025
Adjusted Pre-Provision Net Revenue (“PPNR”)
Net income (GAAP)	$	78,949		$	87,091		$	88,228		$	78,948		$	59,788			$	254,268		$	102,324
Income taxes		20,376			21,553			22,195			17,885			15,478				64,124			27,575
Provision for credit losses (including unfunded commitments)		13,305			3,799			8,080			10,935			10,450				25,184			96,522
Pre-provision net revenue (non-GAAP)	$	112,630		$	112,443		$	118,503		$	107,768		$	85,716			$	343,576		$	226,421
Merger and conversion related expenses		-			-			-			10,567			17,494				-			38,764
Gain on sales of MSR		-			-			(209	)		-			-				(209	)		(1,467	)
Adjusted pre-provision net revenue (non-GAAP)	$	112,630		$	112,443		$	118,294		$	118,335		$	103,210			$	343,367		$	263,718
Adjusted Net Income and Adjusted Tangible Net Income
Net income (GAAP)	$	78,949		$	87,091		$	88,228		$	78,948		$	59,788			$	254,268		$	102,324
Amortization of intangibles		8,332			8,370			8,220			8,465			8,674				24,922			18,638
Tax effect of adjustments noted above(1)		(2,075	)		(2,084	)		(2,047	)		(2,112	)		(2,164	)			(6,206	)		(4,641	)
Tangible net income (non-GAAP)	$	85,206		$	93,377		$	94,401		$	85,301		$	66,298			$	272,984		$	116,321
Net income (GAAP)	$	78,949		$	87,091		$	88,228		$	78,948		$	59,788			$	254,268		$	102,324
Merger and conversion related expenses		-			-			-			10,567			17,494				-			38,764
Day 1 acquisition provision for loan losses		-			-			-			-			-				-			62,190
Day 1 acquisition provision for unfunded commitments		-			-			-			-			-				-			4,422
Gain on sales of MSR		-			-			(209	)		-			-				(209	)		(1,467	)
Tax effect of adjustments noted above(1)		-			-			52			(2,636	)		(4,365	)			52			(25,424	)
Adjusted net income (non-GAAP)	$	78,949		$	87,091		$	88,071		$	86,879		$	72,917			$	254,111		$	180,809
Amortization of intangibles		8,332			8,370			8,220			8,465			8,674				24,922			18,638
Tax effect of adjustments noted above(1)		(2,075	)		(2,084	)		(2,047	)		(2,112	)		(2,164	)			(6,206	)		(4,641	)
Adjusted tangible net income (non-GAAP)	$	85,206		$	93,377		$	94,244		$	93,232		$	79,427			$	272,827		$	194,806
Tangible Assets and Tangible Shareholders' Equity
Average shareholders' equity (GAAP)	$	3,880,631		$	3,851,601		$	3,888,581		$	3,849,791		$	3,794,996			$	3,873,575		$	3,414,952
Average intangible assets		(1,551,577	)		(1,546,924	)		(1,548,244	)		(1,563,189	)		(1,578,846	)			(1,548,927	)		(1,392,393	)
Average tangible shareholders' equity (non-GAAP)	$	2,329,054		$	2,304,677		$	2,340,337		$	2,286,602		$	2,216,150			$	2,324,648		$	2,022,559
Average assets (GAAP)	$	27,098,900		$	26,800,293		$	26,855,360		$	26,693,539		$	26,456,596			$	26,919,078		$	23,574,047
Average intangible assets		(1,551,577	)		(1,546,924	)		(1,548,244	)		(1,563,189	)		(1,578,846	)			(1,548,927	)		(1,392,393	)
Average tangible assets (non-GAAP)	$	25,547,323		$	25,253,369		$	25,307,116		$	25,130,350		$	24,877,750			$	25,370,151		$	22,181,654
Shareholders' equity (GAAP)	$	3,832,100		$	3,871,378		$	3,866,918		$	3,884,905		$	3,825,778			$	3,832,100		$	3,825,778
Intangible assets		(1,547,228	)		(1,555,560	)		(1,545,059	)		(1,552,452	)		(1,566,788	)			(1,547,228	)		(1,566,788	)
Tangible shareholders' equity (non-GAAP)	$	2,284,872		$	2,315,818		$	2,321,859		$	2,332,453		$	2,258,990			$	2,284,872		$	2,258,990
Total assets (GAAP)	$	27,518,181		$	27,004,999		$	27,107,274		$	26,751,426		$	26,726,165			$	27,518,181		$	26,726,165
Intangible assets		(1,547,228	)		(1,555,560	)		(1,545,059	)		(1,552,452	)		(1,566,788	)			(1,547,228	)		(1,566,788	)
Total tangible assets (non-GAAP)	$	25,970,953		$	25,449,439		$	25,562,215		$	25,198,974		$	25,159,377			$	25,970,953		$	25,159,377
Adjusted Performance Ratios
Return on average assets (GAAP)		1.16	%		1.30	%		1.33	%		1.17	%		0.90	%			1.26	%		0.58	%
Adjusted return on average assets (non-GAAP)		1.16			1.30			1.33			1.29			1.09				1.26			1.03
Return on average tangible assets (non-GAAP)		1.32			1.48			1.51			1.35			1.06				1.44			0.70
Pre-provision net revenue to average assets (non-GAAP)		1.65			1.68			1.79			1.60			1.29				1.71			1.28
Adjusted pre-provision net revenue to average assets (non-GAAP)		1.65			1.68			1.79			1.76			1.55				1.71			1.50
Adjusted return on average tangible assets (non-GAAP)		1.32			1.48			1.51			1.47			1.27				1.44			1.17
Return on average equity (GAAP)		8.07			9.07			9.20			8.14			6.25				8.78			4.01
Adjusted return on average equity (non-GAAP)		8.07			9.07			9.19			8.95			7.62				8.77			7.08
Return on average tangible equity (non-GAAP)		14.51			16.25			16.36			14.80			11.87				15.70			7.69
Adjusted return on average tangible equity (non-GAAP)		14.51			16.25			16.33			16.18			14.22				15.69			12.88
Adjusted Diluted Earnings Per Share
Average diluted shares outstanding		91,557,082			92,220,282			94,228,343			95,172,380			95,284,603				92,661,200			84,934,390
Diluted earnings per share (GAAP)	$	0.86		$	0.94		$	0.94		$	0.83		$	0.63			$	2.74		$	1.20
Adjusted diluted earnings per share (non-GAAP)	$	0.86		$	0.94		$	0.93		$	0.91		$	0.77			$	2.74		$	2.13
Tangible Book Value Per Share
Shares outstanding		90,356,578			91,403,230			92,881,329			94,636,207			95,020,881				90,356,578			95,020,881
Book value per share (GAAP)	$	42.41		$	42.35		$	41.63		$	41.05		$	40.26			$	42.41		$	40.26
Tangible book value per share (non-GAAP)	$	25.29		$	25.34		$	25.00		$	24.65		$	23.77			$	25.29		$	23.77
Tangible Common Equity Ratio
Shareholders' equity to assets (GAAP)		13.93	%		14.34	%		14.27	%		14.52	%		14.31	%			13.93	%		14.31	%
Tangible common equity ratio (non-GAAP)		8.80	%		9.10	%		9.08	%		9.26	%		8.98	%			8.80	%		8.98	%
Adjusted Efficiency Ratio
Net interest income (FTE) (GAAP)	$	228,601		$	227,657		$	228,424		$	232,361		$	228,131			$	684,682		$	588,280
Total noninterest income (GAAP)	$	49,275		$	51,190		$	50,272		$	51,125		$	46,026			$	150,737		$	130,755
Gain on sales of MSR		-			-			(209	)		-			-				(209	)		(1,467	)
Total adjusted noninterest income (non-GAAP)	$	49,275		$	51,190		$	50,063		$	51,125		$	46,026			$	150,528		$	129,288
Noninterest expense (GAAP)	$	160,334		$	161,501		$	155,328		$	170,750		$	183,830			$	477,163		$	480,910
Amortization of intangibles		(8,332	)		(8,370	)		(8,220	)		(8,465	)		(8,674	)	-		(24,922	)		(18,638	)
Merger and conversion expense		-			-			-			(10,567	)		(17,494	)			-			(38,764	)
Total adjusted noninterest expense (non-GAAP)	$	152,002		$	153,131		$	147,108		$	151,718		$	157,662			$	452,241		$	423,508
Efficiency ratio (GAAP)		57.70	%		57.92	%		55.73	%		60.23	%		67.05	%			57.12	%		66.88	%
Adjusted efficiency ratio (non-GAAP)		54.70	%		54.92	%		52.82	%		53.52	%		57.51	%			54.15	%		59.02	%
Adjusted Net Interest Income and Adjusted Net Interest Margin
Net interest income (FTE) (GAAP)	$	228,601		$	227,657		$	228,424		$	232,361		$	228,131			$	684,682		$	588,280
Net interest income collected on problem loans		(841	)		(1,166	)		(210	)		(2,767	)		(664	)			(2,217	)		(4,469	)
Accretion recognized on purchased loans		(10,481	)		(12,327	)		(15,248	)		(13,632	)		(16,862	)			(38,056	)		(35,254	)
Amortization recognized on purchased time deposits		-			-			-			-			2,995				-			7,391
Amortization recognized on purchased long term borrowings		336			336			336			335			837				1,008			1,909
Adjustments to net interest income	$	(10,986	)	$	(13,157	)	$	(15,122	)	$	(16,064	)	$	(13,694	)		$	(39,265	)	$	(30,423	)
Adjusted net interest income (FTE) (non-GAAP)	$	217,615		$	214,500		$	213,302		$	216,297		$	214,437			$	645,417		$	557,857
Net interest margin (FTE) (GAAP)		3.77	%		3.83	%		3.87	%		3.89	%		3.85	%			3.82	%		3.75	%
Adjusted net interest margin (FTE) (non-GAAP)		3.58	%		3.61	%		3.61	%		3.62	%		3.62	%			3.60	%		3.55	%
Adjusted Loan Yield
Loan interest income (FTE) (GAAP)	$	308,666		$	300,112		$	299,125		$	309,667		$	311,903			$	907,903		$	816,241
Net interest income collected on problem loans		(841	)		(1,166	)		(210	)		(2,767	)		(664	)			(2,217	)		(4,469	)
Accretion recognized on purchased loans		(10,481	)		(12,327	)		(15,248	)		(13,632	)		(16,862	)			(38,056	)		(35,254	)
Adjusted loan interest income (FTE) (non-GAAP)	$	297,344		$	286,619		$	283,667		$	293,268		$	294,377			$	867,630		$	776,518
Loan yield (GAAP)		6.31	%		6.31	%		6.37	%		6.45	%		6.60	%			6.33	%		6.52	%
Adjusted loan yield (non-GAAP)		6.08	%		6.03	%		6.04	%		6.11	%		6.23	%			6.05	%		6.20	%

⁽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

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