Renasant Corporation · NYSE:RNST
Renasant — Keefe, Bruyette & Woods Seventh Annual Community Bank Investor Conference (August 2006)
35 slides from Renasant's conference presentation, Aug 2, 2006
Slide 1: Keefe, Bruyette & Woods Investor Conference Presentation
Keefe, Bruyette & Woods Investor Conference Presentation Exhibit 99.1
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements regarding Renasant Corporation. All forward-looking statements involve risk and uncertainty and actual results could differ materially from the anticipated results or other expectations expressed in the forward-looking statements. A discussion
Slide 3: Renasant Corporation Background
NASDAQ Global Select Market 102 Year Old Community Bank Renasant Corporation Background
Slide 4: Profile
Parent of Renasant Bank, and Renasant Insurance $2.5 billion in assets Operate 61 banking and insurance offices in 38 cities in Mississippi, Tennessee and Alabama Insurance agency - $35 million annual P & C and Life premium Mortgage Lending Division - Over $400 million annual originations Wealth Man
Slide 5: Key Investment Points
Attractive Markets Solid Financial Performance Quality Credit Prudent Growth Strategies Capable Management Team Key Investment Points
Slide 6: Renasant Bank Offices: Attractive Markets
TENNESSEE MISSISSIPPI ALABAMA FLORIDA Renasant Bank Offices Current Market Target Market Corporate Headquarters Renasant Insurance Offices Jackson Madison Tuscaloosa Oxford Brentwood Murfreesboro Nashville Huntsville Birmingham Decatur Muscle Shoals Florence Corinth Tupelo Memphis Cordova Germantown
Slide 7: Attractive Markets: Pre-2004 Key Markets
Attractive Markets Pre 2004 Key Markets Available Deposits Market Growth Market Share Tupelo 1.3 Billion 8% 22% DeSoto County 1.2 Billion 8% 5% Total 2.5 Billion
Slide 8: Attractive Markets: Acquisitions and De Novo
Attractive Markets Acquisitions Renasant Bancshares Assets: $226 Million Deposits: $185 Million Loans: $172 Million Offices: Germantown, Cordova, TN Heritage Financial Holding Corporation Assets: $540 Million Deposits: $381 Million Loans: $391 Million Offices: Birmingham (3), Huntsville (2), Decatur
Slide 9: Renasant Bank Offices: Key Growth Markets
TENNESSEE MISSISSIPPI ALABAMA FLORIDA Renasant Bank Offices Current Market Target Market Corporate Headquarters Renasant Insurance Offices Jackson Madison Tuscaloosa Oxford Brentwood Murfreesboro Nashville Huntsville Birmingham Decatur Muscle Shoals Florence Corinth Tupelo Memphis Cordova Germantown
Slide 10: Attractive Markets: Current Key Markets
Attractive Markets Current Key Markets Available Deposits Deposit Growth Deposit Share Tupelo 1.3 Billion 8% 24% DeSoto County 1.2 Billion 8% 5% Birmingham 14.7 Billion 8% 1% Decatur 1.1 Billion 3% 13% Huntsville/Madison 5.5 Billion 8% 3% Germantown 1.3 Billion 10% 15% Oxford .5 Billion 12% 0% Colli
Slide 11: Attractive Markets: Alabama
Attractive Markets Alabama Birmingham - • 3.1% Unemployment Rate • 6.3% and 10.4% growth in income and housing over the past quarter on record • th Hottest Location for Business Expansion in the U.S. Huntsville - • Salaries.com listed as best value for salaries and cost of living • #1 Mid-market in
Slide 12: Attractive Markets: Tennessee
Tennessee Memphis - • Ranked #7 for hottest cities for business expansion and #7 for real estate markets by Expansion Management Magazine • 10 Renasant locations within Memphis MSA • Key distribution hub of the mid-south as well as the entire nation Nashville - • Major companies relocating headquart
Slide 13: Attractive Markets: Mississippi
Attractive Markets Mississippi DeSoto County - • Fastest growing county in Mississippi • Highest median household income in the State Oxford - • One of the nation’s hottest real estate markets • Average home valued at $214,000 Tupelo - • Ranked 2 nd in the Nation as “most active micropolitan area fo
Slide 14: Solid Financial Performance: Loan Growth
Total Loans ($ Millions) Solid Financial Performance: Loan Growth Does not include mortgage loans held for sale. Year to date as of 6/30/06. 1,000 1,300 1,600 1,900
Slide 15: Loan Growth by Market
Loan Growth by Market State Trailing 12 Month Loan Growth Tennessee $86 Million Mississippi $18 Million Alabama $33 Million Total Growth $137 Million
Slide 16: Loan Composition – June 2006
Consumer Real Estate 77 % 23 % Loan Composition – June 2006 Solid Financial Performance Commercial Non- Real Estate 82 % 18 %
Slide 17: Solid Financial Performance: Deposit Growth
Total Deposits ($ Millions) Solid Financial Performance: Deposit Growth Year to date as of 6/30/06. 1,000 1,250 1,500 1,750 2,000
Slide 18: Deposit Growth by Market
Deposit Growth by Market State Trailing 12 Month Deposit Growth Tennessee $58 Million Mississippi $133 Million Alabama $28 Million Total Growth $219 Million
Slide 19: Deposit Composition – June 2006
Solid Financial Performance Deposit - Composition - – - June - 2006 80% Core Deposits 28% 12% 14% 25% 21% Time >/= $100K Savings/ MMkt Non-Int. Demand Interest Bearing Time < $100K
Slide 20: Growing Net Interest Income
Quarterly Net-Interest Income ($000) Solid Financial Performance: Growing Net-Interest Income 12,000 14,000 16,000 18,000 20,000 22,000 Net Interest Income Excluding SOP 03-3
Slide 21: Net Interest Margin
Solid Financial Performance: Net Interest Margin Year to date for the six months ended 6/30/06. Net Interest Margin (%) 3.80 4.00 4.20 4.40 4.60 4.80 NIM Excluding SOP 03-3
Slide 22: Non-Interest Income / Average Assets
1.00 1.40 1.80 2.20 2.60 RNST Peer Average Solid Financial Performance: Non-Interest Income /Average Assets Source: SNL Financial and Company reports. Peer group includes publicly traded banks headquartered in AL, AR, FL, GA, LA, MS and TN with assets between $1 billion and $10 billion, excluding me
Slide 23: Fee Income Opportunity
Non Interest Income / Average Assets Mississippi Division 3.23% Tennessee Division 0.28% Alabama Division 1.46% Solid Financial Performance: Fee Income Opportunity
Slide 24: Fee Income Composition
Solid Financial Performance: Fee Income Composition Loan = 25% Deposit = 42% Mortgage Loan = 13% Insurance = 8% Trust and Wealth Management = 6% Other = 6%
Slide 25: Non-Interest Expense / Average Assets
2.75 3.00 3.25 3.50 3.75 4.00 RNST Peer Average Solid Financial Performance: Non-Interest Expense /Average Assets Non-Interest Expense /Average Assets (%) - Annualized Source: SNL Financial and Company reports. Peer group includes publicly traded banks headquartered in AL, AR, FL, GA, LA, MS and TN
Slide 26: Improving Trend in EPS
0.40 0.48 0.56 0.64 0.72 1.40 1.70 2.00 2.30 2.60 Annual Earnings per Share ($) Thru 2005 5 YR CAGR = 14% 10 YR CAGR = 8% Solid Financial Performance: Improving Trend in EPS Quarterly Earnings per Share ($)
Slide 27: Quality Credit
0.00 0.13 0.26 0.39 0.52 YTD RNST Peer Average 0.00 0.25 0.50 0.75 1.00 YTD RNST Peer Average NPLs + 90 / Loans (%) NCOs / Avg Loans (%) Quality Credit Source: SNL Financial and Company reports. Peer group includes publicly traded banks headquartered in AL, AR, FL, GA, LA, MS and TN with assets betw
Slide 28: Outstanding Loan Concentration
Outstanding Loan Concentration for June 2006 Largest Loan Outstanding to One Borrower - $13.5 million Average Loan over $2 million - $3.5 million Average Commercial Credit - $168,250 Quality Credit 14% 86% $2M Plus Other
Slide 29: Prudent Growth Strategies
Prudent Growth Strategies Loans • Key Hires of Commercial Relationship Officers • HELOC referrals from Mortgage Lending Division Core Deposits • High Performance Business and Consumer Checking • Renasant Relationship Account • Cash Management Services Wealth Management • Expanding - Private - Client
Slide 30: Prudent Growth Strategies: De Novo Plans
Prudent Growth Strategies De Novo Plans • Birmingham, AL • Huntsville, AL • Oxford, MS • Nashville, TN
Slide 31: Capable Management Team
Name Title Experience E. Robinson McGraw Chairman and CEO – Renasant Bank & Renasant Corporation 36 years Frank Cianciola President- Renasant Tennessee 29 years Steve Corban Senior Executive Vice President- 25 Years General Counsel Jim Gray Senior Executive Vice President-CIO 27 years Stuart Johnson
Slide 32: Price Performance and Shareholder Return
19 years of Dividend Increases RNST NASDAQ Bank Index Price Performance and Shareholder Return Since 12/31/2000 Price Total Dividend Performance Return (1) Yield RNST % % 2.18 % NASDAQ Bank Index 2.34 Source: Bloomberg. Data as of 7/19/06. Prices are adjusted for stock splits and dividends. (1) Incl
Slide 33: Fair Valuation
Fair Valuation Est 2006 Est 2006 Price / Dividend GAAP P/E Cash P/E Book Yield RNST 16.7 x 16.1 x % 2.2 % Peer Average 16.8 16.3 1.9 Source: SNL Financial. Pricing data as of 7/19/06. Earnings estimates are consensus of Wall Street analysts' estimates as compiled by First Call. Cash basis ratios cal
Slide 34: Key Investment Points
Attractive Markets Solid Financial Performance Quality Credit Prudent Growth Strategies Capable Management Team Key Investment Points
Slide 35: Contact: Jim Gray and Stuart Johnson
Nasdaq:RNST www.renasant.com Jim Gray Stuart Johnson Senior Executive Vice President-CIO Senior Executive Vice President-CFO 662-680-1217 662-680-1472 jimg@renasant.com stuartj@renasant.com