Welcome to our dedicated page for Renasant news (Ticker: RNST), a resource for investors and traders seeking the latest updates and insights on Renasant 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 its fourth quarter 2020 earnings, revealing a net income of $31.5 million, down from $38.4 million in Q4 2019. The company's basic and diluted earnings per share (EPS) for the quarter were $0.56, compared to $0.67 in the same period last year. For the full year 2020, net income fell to $83.7 million from $167.6 million in 2019, with EPS decreasing to $1.49 versus $2.89. Despite these challenges, CEO C. Mitchell Waycaster emphasized the company’s commitment to core funding and asset quality.
Renasant Corporation (NASDAQ: RNST) will announce its 2020 fourth quarter and year-end results on January 26, 2021, after the NASDAQ closes. A conference call for analysts will follow on January 27, 2021, at 10:00 AM ET. Interested parties can access the webcast via Renasant's investor relations website or by phone. Renasant Corporation, founded 117 years ago, has assets of approximately $14.8 billion and operates over 200 financial service offices across multiple states.
The board of directors of Renasant Corporation (NASDAQ: RNST) has declared a quarterly cash dividend of $0.22 per share, scheduled for distribution on January 1, 2021. Shareholders of record as of December 18, 2020 will receive this payment. Renasant Corporation, the parent company of Renasant Bank, oversees assets totaling approximately $14.8 billion and operates over 200 financial offices across several states including Mississippi, Tennessee, and Florida.
Renasant Corporation (NASDAQ: RNST) reported a net income of $30 million for Q3 2020, down from $37.4 million in Q3 2019. Basic and diluted EPS were $0.53, compared to $0.64 in the prior year. For the first nine months of 2020, net income totaled $52.1 million, a significant decrease from $129.2 million in 2019. Total assets rose to $14.81 billion, with loans held for investment at $11.08 billion. The company continues facing elevated expenses due to COVID-19. It has closed over 11,000 PPP loans worth $1.31 billion, enhancing liquidity but affecting capital ratios.
Renasant Corporation (NASDAQ: RNST) is set to announce its 2020 third quarter results after the NASDAQ closes on October 27, 2020. A conference call is scheduled for October 28, 2020, at 10:00 AM Eastern Time. Renasant operates over 200 banking and financial offices across multiple states and has approximately $14.9 billion in assets. The company warns that forward-looking statements may involve risks including interest rate fluctuations, economic downturns, and competitive pressures, impacting future performance projections.
Renasant Corporation (Nasdaq: RNST) priced its public offering of $100 million in 4.50% Fixed-to-Floating Rate Subordinated Notes due 2035. These Notes offer a fixed interest rate until September 15, 2030, after which the rate will reset quarterly. The expected net proceeds from the offering are $98.75 million, which will be used for general corporate purposes, including capital growth and debt repayment. The offering is set to close on September 3, 2020, pending customary conditions.
Renasant Corporation (NASDAQ: RNST) announced a quarterly cash dividend of $0.22 per share, payable on September 30, 2020, to shareholders of record as of September 16, 2020. With total assets of approximately $14.9 billion, Renasant operates over 200 banking, mortgage, and wealth management offices across five states. This dividend reflects the company's ongoing commitment to returning value to its shareholders.
Renasant Corporation announces the appointment of James C. Mabry IV as Executive Vice President and Chief Financial Officer, effective August 1, 2020. Mabry, with over 35 years in financial services, previously held positions at South State Corporation and Keefe, Bruyette and Woods. He will oversee mergers and acquisitions while Kevin D. Chapman continues as Chief Operating Officer. Renasant, with approximately $15 billion in assets, operates over 200 offices across five states and is recognized as one of Forbes’ Best Banks in the World for 2020.
Renasant Corporation (RNST) reported a net income of $20.1 million for Q2 2020, significantly down from $46.6 million in Q2 2019. Basic EPS was $0.36, a decrease from $0.80 the previous year. For the first half of 2020, net income dropped to $22.1 million from $91.7 million in the same period of 2019. The bank closed over 10,500 PPP loans totaling approximately $1.3 billion, generating $44.7 million in fees. The company also increased its loan loss reserves to $29.5 million due to pandemic-related uncertainties, which has raised concerns over future credit quality.
Renasant Corporation (NASDAQ: RNST) will announce its second quarter 2020 results on July 27, 2020, after NASDAQ's closing. A conference call with executive management will follow on July 28, 2020, at 10:00 AM ET. Investors can access the call via Renasant's investor relations website or through a dedicated conference line. Renasant Corporation operates over 200 banking and wealth management locations across five states, managing approximately $13.9 billion in assets. The company cautions that forward-looking statements may differ materially from actual results due to various risks and uncertainties.
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