Renasant and The First Announce Receipt of Regulatory Approvals for Merger
Renasant (NYSE: RNST) and The First Bancshares have received all necessary regulatory approvals for their proposed merger, following shareholder approvals obtained on October 22, 2024. The merger is expected to close on April 1, 2025, subject to customary closing conditions.
The strategic combination will create a significant financial services institution with $26 billion in assets and over 250 locations across the Southeast. The merged entity will offer factoring and asset-based lending services nationwide. The merger represents a partnership between two organizations sharing similar values and commitment to customer and community service.
Renasant (NYSE: RNST) e The First Bancshares hanno ricevuto tutte le necessarie approvazioni regolamentari per la loro proposta di fusione, dopo che le approvazioni degli azionisti sono state ottenute il 22 ottobre 2024. Si prevede che la fusione si concluda il 1 aprile 2025, soggetta alle consuete condizioni di chiusura.
Questa combinazione strategica darà vita a un'importante istituzione di servizi finanziari con 26 miliardi di dollari in attivi e oltre 250 sedi nel sud-est. L'entità risultante offrirà servizi di factoring e prestiti basati su attivi a livello nazionale. La fusione rappresenta una partnership tra due organizzazioni che condividono valori simili e un impegno verso il servizio ai clienti e alla comunità.
Renasant (NYSE: RNST) y The First Bancshares han recibido todas las aprobaciones regulatorias necesarias para su propuesta de fusión, tras obtener las aprobaciones de los accionistas el 22 de octubre de 2024. Se espera que la fusión se cierre el 1 de abril de 2025, sujeta a las condiciones habituales de cierre.
Esta combinación estratégica creará una importante institución de servicios financieros con 26 mil millones de dólares en activos y más de 250 ubicaciones en el sureste. La entidad fusionada ofrecerá servicios de factoring y préstamos basados en activos a nivel nacional. La fusión representa una asociación entre dos organizaciones que comparten valores similares y un compromiso con el servicio al cliente y a la comunidad.
Renasant (NYSE: RNST)와 The First Bancshares는 주주 승인 후 제안된 합병을 위한 모든 필요한 규제 승인을 받았습니다. 합병은 2024년 10월 22일에 승인되었으며, 2025년 4월 1일에 마감될 것으로 예상되며, 일반적인 마감 조건이 적용됩니다.
이 전략적 조합은 260억 달러의 자산과 남동부에 250개 이상의 지점을 보유한 중요한 금융 서비스 기관을 창출할 것입니다. 합병된 기관은 전 국가에 걸쳐 팩토링 및 자산 기반 대출 서비스를 제공할 것입니다. 이 합병은 고객 및 지역 사회 서비스에 대한 유사한 가치와 헌신을 공유하는 두 조직 간의 파트너십을 나타냅니다.
Renasant (NYSE: RNST) et The First Bancshares ont reçu toutes les approbations réglementaires nécessaires pour leur projet de fusion, après avoir obtenu les approbations des actionnaires le 22 octobre 2024. La fusion devrait se conclure le 1er avril 2025, sous réserve des conditions habituelles de clôture.
Cette combinaison stratégique créera une importante institution de services financiers avec 26 milliards de dollars d'actifs et plus de 250 emplacements dans le sud-est. L'entité fusionnée proposera des services de factoring et de prêts basés sur des actifs à l'échelle nationale. La fusion représente un partenariat entre deux organisations partageant des valeurs similaires et un engagement envers le service à la clientèle et à la communauté.
Renasant (NYSE: RNST) und The First Bancshares haben alle erforderlichen regulatorischen Genehmigungen für ihre vorgeschlagene Fusion erhalten, nachdem die Genehmigungen der Aktionäre am 22. Oktober 2024 eingeholt wurden. Die Fusion wird voraussichtlich am 1. April 2025 abgeschlossen, vorbehaltlich der üblichen Abschlussbedingungen.
Diese strategische Kombination wird eine bedeutende Finanzdienstleistungsinstitution mit 26 Milliarden Dollar an Vermögenswerten und über 250 Standorten im Südosten schaffen. Die fusionierte Einheit wird landesweit Factoring- und asset-basierte Kreditdienstleistungen anbieten. Die Fusion stellt eine Partnerschaft zwischen zwei Organisationen dar, die ähnliche Werte und ein Engagement für den Kunden- und Gemeindedienst teilen.
- Creation of a larger financial institution with $26 billion in assets
- Expanded footprint with over 250 Southeast locations
- Enhanced service offering including nationwide factoring and asset-based lending
- All regulatory approvals obtained
- None.
TUPELO, Miss. and HATTIESBURG, Miss., March 17, 2025 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (“Renasant”) and The First Bancshares, Inc. (NYSE: FBMS) (“The First”) jointly announced today that they have received all necessary regulatory approvals to complete the proposed merger of The First with and into Renasant, and the related merger of The First’s wholly owned subsidiary, The First Bank, with and into Renasant Bank, Renasant’s wholly owned subsidiary. Renasant and The First previously announced that their respective shareholders approved the proposed merger at special shareholder meetings on October 22, 2024.
“We’re excited to have received regulatory approval to move forward with the merger between The First and Renasant,” said Renasant CEO and Executive Vice Chairman, Mitch Waycaster. “We believe this merger creates a transformative partnership between two great organizations with shared values and a commitment to serving our customers and communities.”
Renasant and The First expect to close the merger on April 1, 2025, subject to the satisfaction of other customary closing conditions. The combination will result in a financial services institution with approximately
“I am confident we are building a strong foundation for the future, and we look forward to seeing our alliance come to fruition,” said The First CEO and President, Hoppy Cole. “We believe the combination of our two like-minded banks will unlock new possibilities that neither could achieve alone.”
About Renasant Corporation:
Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately
About The First Bancshares, Inc.:
The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First Bank. Founded in 1996, the First has operations in Mississippi, Louisiana, Alabama, Florida and Georgia. Additional information is available on The First’s website: www.thefirstbank.com.
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. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include information about Renasant’s future financial performance, business strategy, and projected plans and objectives, including related to the merger transaction involving Renasant and The First, and are based on the current beliefs and expectations of management. Renasant’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 Renasant’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. 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.
Additional information about the Renasant/First Merger:
This communication is being made in respect of the merger transaction involving Renasant and The First. In connection with the merger, Renasant filed with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement for The First that also constitutes a definitive prospectus of Renasant, and Renasant may file additional documents concerning the merger with the SEC. This release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Before making any investment decision, The First investors are urged to read the definitive proxy statement/prospectus and any other documents to be filed with the SEC in connection with the merger or incorporated by reference in the definitive proxy statement/prospectus because they will contain important information about Renasant, The First and the merger. The definitive proxy statement/prospectus was mailed to shareholders of The First on September 17, 2024. Investors may obtain copies of the proxy statement/prospectus and other relevant documents filed by Renasant (when they become available) free of charge at the SEC’s website (www.sec.gov). In addition, documents filed with the SEC by Renasant will be available free of charge from Jim Mabry, Chief Financial Officer, Renasant Corporation, 209 Troy Street, Tupelo, Mississippi 38804-4827, telephone: (662) 680-1281.
| Contacts: | For Media: John S. Oxford Senior Vice President Chief Marketing Officer (662) 680-1219joxford@renasant.com | For Financials: James C. Mabry IV Executive Vice President Chief Financial Officer (662) 680-1281jim.mabry@renasant.com |
FAQ
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