Welcome to our dedicated page for Renasant Corporation news (Ticker: RNST), a resource for investors and traders seeking the latest updates and insights on Renasant Corporation stock.
Renasant Corporation (symbol: RNST) is a multifaceted financial services entity with a longstanding history of success in the southern United States. Established on February 27, 1904, in a modest bakery in Lee County, Mississippi, Renasant has grown into a robust holding company overseeing Renasant Bank and Renasant Insurance, Inc.
Renasant Bank offers a diverse range of financial services through its three main segments: community banks, insurance, and wealth management. The community banks segment focuses on providing essential banking services to individuals and small businesses, including lending activities that drive the majority of the company's revenue. The insurance segment operates as an agency offering both commercial and personal insurance products through third-party carriers. Lastly, the wealth management segment delivers comprehensive services such as money management and retirement planning.
Renasant Corporation prides itself on strong leadership, innovation, and deep community partnerships. This dedication has allowed it to expand to over 120 offices providing banking, lending, insurance, and wealth management services across multiple states. The company's commitment to client relationships is evident in its strategic growth and solid financial condition.
Recent performance metrics indicate robust financial health, driven by key areas such as net interest income, mortgage banking income, and a balanced loan portfolio. Renasant continues to navigate the financial landscape with a focus on sustainable growth and community engagement.
Latest News Highlights:
- Income Statement
- Capital and Balance Sheet Ratios
- Noninterest Income and Noninterest Expense
- Mortgage Banking Income
- Balance Sheet
- Net Interest Income and Net Interest Margin
Note: U.S. Government and some U.S. Government Agency securities are tax-exempt in the states where the company operates. Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.
Renasant Corporation (NASDAQ: RNST) reported first quarter 2023 earnings with net income of $46.1 million and diluted EPS of $0.82. This reflects a slight decrease from $46.3 million and $0.83 in the previous quarter. The net interest income was $138.5 million, down $2 million quarter-over-quarter, with a net interest margin of 3.66%. Noninterest income rose by $3.9 million, driven by growth in mortgage banking income. Total loans increased by $188.1 million, marking 6.6% annualized growth, while total deposits expanded by $425.1 million. The company recorded a provision for credit losses of $8 million and net loan charge-offs of $4.7 million. Renasant maintains a $100 million stock repurchase program, but no buybacks occurred in this quarter.
The Renasant Corporation (NASDAQ: RNST) is set to announce its 2023 first quarter results on April 25, 2023, after the NASDAQ closes. A conference call and webcast for analysts will follow on April 26, 2023, at 10:00 AM ET, accessible via Renasant's investor relations site. Renasant Corporation, which has been operating for 119 years, boasts approximately $17.0 billion in assets and runs 198 banking and financial services offices across the Southeast. The company emphasizes the importance of reviewing their filings with the SEC and highlights that forward-looking statements may involve risks and uncertainties that could lead to actual results differing significantly from expectations.
Renasant Corporation (NASDAQ: RNST) announced the approval of a quarterly cash dividend of $0.22 per share, payable on March 31, 2023, to shareholders on record as of March 17, 2023. With approximately $17.0 billion in assets, Renasant operates 198 branches across the Southeast, offering a range of financial services including banking, lending, and wealth management. This dividend marks a continued commitment to returning value to shareholders amidst a stable operational landscape.
Renasant Corporation (RNST) reported its Q4 2022 earnings, revealing net income of $46.3 million and diluted EPS of $0.82, compared to $37.1 million and $0.66 in Q4 2021. Adjusted diluted EPS rose to $0.89 from $0.68 year-over-year. The bank completed the acquisition of Republic Business Credit, adding $77.5 million in loans. Net interest income increased to $140.6 million, with a net interest margin of 3.78%. Despite stable credit metrics, a provision for credit losses of $10.5 million was recorded due to loan growth. The bank's capital ratios remain robust, with a common equity tier 1 ratio of 10.21%.
Renasant Corporation (NASDAQ: RNST) will announce its 2022 fourth quarter results on January 24, 2023, after NASDAQ's closing. A conference call for analysts hosted by executive management will take place on January 25, 2023, at 10:00 AM ET. Investors can access the webcast through Renasant's investor relations website. The company, with approximately $16.5 billion in assets, operates 195 offices in multiple states. Forward-looking statements may be included in the announcement, with disclaimers regarding risks and uncertainties affecting future performance.
Renasant has announced PGA Tour golfer Trey Mullinax as their new Brand Ambassador. Mullinax, who won the Barbasol Championship in July 2022, brings a relatable background from Birmingham, Alabama. Renasant's Chief Marketing Officer, John Oxford, stated that Mullinax's professionalism and popularity will boost the brand's image and engagement. Mullinax aims to contribute through digital promotions and brand content, joining the roster of existing ambassadors like Kirk Herbstreit and Ally Ewing.
The board of directors of Renasant Corporation (NASDAQ: RNST) has announced a quarterly cash dividend of $0.22 per share, payable on January 1, 2023. Shareholders on record as of December 16, 2022 will be eligible for this dividend. Renasant Corporation, with approximately $16.5 billion in assets, operates 195 banking and financial service locations across several states, including Mississippi, Tennessee, and Florida.
Renasant Corporation (NASDAQ: RNST) reported strong third-quarter 2022 earnings, with net income of $46.6 million and diluted EPS of $0.83, reflecting a notable increase from $39.7 million and $0.71 in the prior quarter. The net interest margin rose to 3.54%, contributing to a net interest income of $132.4 million, up $17.1 million sequentially. However, total deposits decreased by $331.8 million, primarily due to a reduction in interest-bearing deposits. Credit quality remains stable, with nonperforming loans at 0.5% of total loans, while the company’s capital ratios reflect solid positions.
Renasant Corporation (NASDAQ: RNST) will announce its third quarter results on October 25, 2022, after NASDAQ's close. A conference call is scheduled for October 26, 2022, at 10:00 AM ET, accessible via the company's investor relations website or by phone. Renasant Corporation, with assets of approximately $16.6 billion, operates 195 locations across multiple states. Investors should consider potential risks, including interest rate fluctuations and economic recession, which could impact future performance.
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