Slide 1: Second Quarter 2025 Investor Presentation
Second Quarter 2025 Investor Presentation
Slide 2: Forward-Looking Statements
This presentation may contain various statements about Renasant Corporation (“Renasant,” “we,” “our,” or “us”) 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.
Slide 3: Snapshot
Snapshot Assets: $26.6 billion Loans: 18.6 Deposits: 21.6 Equity: 3.8 Loans and Deposits by State MS 24% AL 22%FL 12% LA 5% GA 27% TN 10% Loans MS 39% AL 14% FL 9% LA 3% GA 28% TN 7% Deposits Footprint *Republic Business Credit operates on a nationwide basis. Locations in California, Illinois and Te
Slide 4: Second Quarter 2025 Highlights
• On April 1, 2025, the Company completed its merger with The First Bancshares, Inc. (“The First”). As of the acquisition date, The First operated 116 locations throughout Louisiana, Mississippi, Alabama, Georgia and Florida and, net of purchase accounting adjustments, had $7.9 billion in assets, $5
Slide 5: Balance Sheet
Balance Sheet $14,255 $14,510 $14,573 $14,772 $21,583 $0 $5,000 $10 ,000 $15 ,000 $20 ,000 $25 ,000 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Deposits $12,605 $12,628 $12,885 $13,056 $18,563 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Loans $2,355 $2,658 $2,678 $2,727 $3,779 2Q 2024 3Q 2024 4Q 2024 1Q 202
Slide 6: Core Deposit Funding
6 Core Deposit Funding Composition Granularity • Average deposit account balance is $35 thousand; commercial and consumer deposit accounts, excluding time deposit accounts, average approximately $92 thousand and $13 thousand, respectively • Top 20 depositors, excluding public funds, comprise 4.1% of
Slide 7: Liquidity Position
7 Liquidity Position Cash and Securities to Total Assets 15.9% 17.8% 16.9% 17.5% 18.5% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Loans to Deposits 88% 87% 88% 88% 86% $1 $1 $1 $1 $1 $1 $1 $1 $1 $1 $1 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Average Interest Earning Asset M
Slide 8: Capital
8 Capital 13.45% 14.80% 14.85% 14.93% 14.19% 8.16% 9.76% 9.84% 9.99% 8.77% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Equity to Assets / Tangible Common Equity Ratio (non-GAAP)* Shareholders' equity to assets Tangible common equity ratio (non-GAAP)* $41.77 $41.82 $42.13 $42.79 $39.77 $23.89 $26.02 $26.
Slide 9: Asset Quality
9 Asset Quality 2.62% 3.02% 2.89% 2.45% 2.66% 2.00% 2.50% 3.00% 3.50% 4.00% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Criticized Loans/Total Loans 0.23% 0.14% 0.31% 0.31% 0.25% 0.0% 0.5% 1.0% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Loans 30-89 Days Past Due/ Total Loans 0.18% 0.02% 0.05% 0.00% 0.26% 0
Slide 10: Profitability
10 Profitability $127.6 $133.6 $135.5 $137.4 $222.7 $126.8 $131.8 $134.7 $135.8 $207.6 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net Interest Income (FTE) / Adjusted Net Interest Income (FTE) (non-GAAP)* Net interest income (FTE) Adjusted net interest income (FTE) (non-GAAP)* $51.8 $98.3 $52.4 $56.7 $
Slide 11: Profitability Ratios
11 Profitability Ratios 6.68% 11.29% 6.70% 6.25% 0.11% 12.04% 11.26% 11.38% 10.30% 13.50% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 ROAE / Adjusted ROTCE (non-GAAP)* ROAE (GAAP) ROTCE (Adjusted) (non-GAAP)* 0.90% 1.63% 0.99% 0.94% 0.02% 0.90% 0.97% 1.03% 0.95% 1.01% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q
Slide 12: Net Interest Margin (FTE), Loan Yield and Cost of Deposits
12 Net Interest Margin (FTE), Loan Yield and Cost of Deposits 3.31% 3.36% 3.36% 3.45% 3.85% 3.29% 3.32% 3.34% 3.42% 3.58% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net Interest Margin (FTE) / Adjusted Net Interest Margin (FTE)(non-GAAP)* Net Interest Margin Adjusted Net Interest Margin (FTE)(non-GAAP)
Slide 13: Noninterest Income
Noninterest Income $38.8 $89.3 $34.2 $36.4 $48.3 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Noninterest Income • Noninterest income increased $11.9 million linked quarter, primarily due to the merger with The First and a gain on sale of MSRs of $1.5 million Note: Dollars in millions. 13 Service Charges
Slide 14: Noninterest Expense
14 Noninterest Expense ($ in thousands) 1Q25 2Q25 Change Salaries and employee benefits 71,957$ 99,542$ 27,585$ Data processing 4,089 5,438 1,349 Net occupancy and equipment 11,754 17,328 5,574 Advertising and public relations 4,297 4,490 193 Merger and conversion expenses 791 20,479 19,688 Intangib
Slide 15: Appendix
Appendix
Slide 16: Available Liquidity and Uninsured Deposits
16 Available Liquidity and Uninsured Deposits $13.6 $6.3 Available sources Uninsured and uncollateralized deposits Uninsured Deposits Uncollateralized 6.3$ 29.2 % Collateralized public funds 3.0 13.9 Total 9.3$ 43.1 % % of Total Deposits Internal Sources Cash and cash equivalents 1.4$ Unencumbered s
Slide 17: Securities Composition (amortized cost)
17 Securities Composition (amortized cost) Highlights • Amortized cost of $3.7 billion; GAAP value of $3.5 billion, which represents 13.3% of total assets • Acquired $1.5 billion in securities from The First • Sold $686.5 million of The First securities and reinvested at higher rates • Duration of 4
Slide 18: Non-Owner Occupied CRE – Term
18 Non-Owner Occupied CRE – Term* Non-Owner Occupied CRE – Term* Note: As of June 30, 2025. LTV is calculated using the most recent appraisal available. *Excludes construction 14% 13% 9% 22% 6% 9% 18% 6% 3% Warehouse/Industrial Hotels Self Storage Multi-family Medical Office Office (non-medical) Ret
Slide 19: Construction Composition
19 Construction Composition Note: As of June 30, 2025; LTV is calculated using the most recent appraisal available. Highlights 29% 12% 18% 8% 3% 14% 10% 3% 3% 1-4 Family Commercial Owner-Occupied Multi-family Office Retail Self Storage Warehouse / Industrial Hotels Senior Housing Average Loan Size1
Slide 20: ACL / Loss Absorption
Forward-Looking Statements 20 ACL / Loss Absorption ($ in thousands) ACL ACL as a % of Loans ACL ACL as a % of Loans Commercial, Financial, Agricultural 38,240$ 2.02 59,552$ 2.23 Lease Financing Receivables 3,644 4.27 1,935 2.16 Real Estate - 1-4 Family Mortgage 50,913 1.42 65,828 1.35 Real Estate -
Slide 21: Q2 ACL Activity
21 Q2 ACL Activity $203.9 $(12.0) $13.2 $23.5 $62.2 $290.8 Axis Title Q1 ACL NCO Provision PCD Non-PCD Q2 ACL A xi s Ti tle Note: Dollars in millions. (1) Net charge-offs (2) Excludes day 1 acquisition provision for acquired loans from The First (3) Loans purchased with more than insignificant credi
Slide 22: Mortgage Banking
22 Mortgage Banking Mortgage Banking Income ($ in thousands) 2Q24 1Q25 2Q25 Gain on sales of loans, net 5,199$ 4,500$ 5,316$ Fees, net 2,866 2,317 3,740 Mortgage servicing income, net 1,633 1,330 2,207 Mortgage banking income, net 9,698$ 8,147$ 11,263$ $560.3 $543.6 $482.3 $632.1 $679.6 $- $100 $200
Slide 23: Selected Purchase Accounting Adjustments
Selected Purchase Accounting Adjustments (1) 23 Selected Purchase Accounting Adjustments ($ in millions) Estimate at Announcement Actual at Close Fair Value Marks Loans $189.0 $143.5 Securities HTM 45.2 58.0 Credit Marks Purchased Credit Deteriorated (“PCD”) Loans 27.0 23.5 Non-PCD Loans 50.1 62.2 I
Slide 24: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non- GAAP Disclosures
Slide 25: Pre-Provision Net Revenue and Adjusted Pre-Provision Net Revenue
Forward-Looking Statements 25 Reconciliation of Non-GAAP Disclosures Pre-Provision Net Revenue and Adjusted Pre-Provision Net Revenue $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net income (GAAP) 38,846$ 72,455$ 44,747$ 41,518$ 1,018$ Income taxes 9,666 24,924 5,006 10,448 1,649 Provision
Slide 26: Pre-Provision Net Revenue/Average Assets and Adjusted
26 Reconciliation of Non-GAAP Disclosures Pre-Provision Net Revenue/Average Assets and Adjusted Pre-Provision Net Revenue/Average Assets $ in thousands 2Q 2024 3Q 2024 4Q 2024 Net income (GAAP) 38,846$ 72,455$ 44,747$ 41,518$ 1,018$ Merger and conversion expense - 11,273 2,076 791 20,479 Day 1 acqui
Slide 27: Adjusted Diluted Earnings Per Share
Forward-Looking Statements 27 Reconciliation of Non-GAAP Disclosures Adjusted Diluted Earnings Per Share $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net income (GAAP) 38,846$ 72,455$ 44,747$ 41,518$ 1,018$ Merger and conversion expense - 11,273 2,076 791 20,479 Day 1 acquisition provision
Slide 28: Return on Average Tangible Common Equity (Adjusted)
28 Reconciliation of Non-GAAP Disclosures Return on Average Tangible Common Equity (Adjusted) $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net income (GAAP) 38,846$ 72,455$ 44,747$ 41,518$ 1,018$ Merger and conversion expense - 11,273 2,076 791 20,479 Day 1 acquisition provision for loan l
Slide 29: Adjusted Net Interest Income (FTE) and Adjusted Net Interest Margin
Forward-Looking Statements 29 Reconciliation of Non-GAAP Disclosures Adjusted Net Interest Income (FTE) and Adjusted Net Interest Margin $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net interest income (FTE) (GAAP) 127,598$ 133,576$ 135,502$ 137,432$ 222,717$ Less: Net interest income coll
Slide 30: Adjusted Loan Yield
30 Reconciliation of Non-GAAP Disclosures Adjusted Loan Yield $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Loan interest income (FTE) (GAAP) 200,670$ 204,935$ 201,562$ 199,504$ 304,834$ Less: Net interest income collected on problem loans (146) 642 151 1,026 2,779 Accretable yield recogniz
Slide 31: Adjusted Efficiency Ratio
Forward-Looking Statements 31 Reconciliation of Non-GAAP Disclosures Adjusted Efficiency Ratio $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net interest income (FTE) (GAAP) 127,598$ 133,576$ 135,502$ 137,432$ 222,717$ Total noninterest income (GAAP) 38,762 89,299 34,218 36,395 48,334 Gain
Slide 32: Tangible Common Equity and Tangible Book Value
32 Reconciliation of Non-GAAP Disclosures Tangible Common Equity and Tangible Book Value $ in thousands 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Shareholders' equity (GAAP) 2,354,701$ 2,658,078$ 2,678,318$ 2,727,105$ 3,778,854$ Intangibles 1,008,062 1,004,136 1,003,003 1,001,923 1,583,533 Tangible sh
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