Slide 1: Second Quarter 2025 Earnings Call
Second Quarter 2025 Earnings Call
Slide 2: Forward-Looking Statements
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 Exchan
Slide 3: Overview
Overview Snapshot Footprint Assets: $26.6 billion Loans: 18.6 Deposits: 21.6 Equity: 3.8 Loans and Deposits by State Loans Deposits TN TN 10% MS 7% 24% GA GA MS * 27% 28% 39% AL FL 22% AL 12% LA 14% LA 3% 5% FL *Republic Business Credit operates on a nationwide basis. Locations in California, Illino
Slide 4: Second Quarter Highlights
Second Quarter 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
Slide 5: Balance Sheet
Balance Sheet Assets Loans $26,625 $18,563 $17,510 $17,959 $18,035 $18,271 $12,605 $12,628 $12,885 $13,056 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Deposits Equity $3,779 $21,583 $25 ,000 $20 ,000 $14,255 $14,510 $14,573 $14,772 $2,658 $2,678 $2,727 $2,355 $15
Slide 6: Core Deposit Funding
Core Deposit Funding Composition Granularity • Average deposit account balance is $35 thousand; commercial and consumer deposit accounts, excluding 16% time deposit accounts, average approximately $92 25% thousand and $13 thousand, respectively 6% • Top 20 depositors, excluding public funds, compris
Slide 7: Liquidity Position
Liquidity Position Cash and Securities to Total Assets Loans to Deposits $1 $0 $1 $0 $1 $0 18.5% 17.8% $1 $0 17.5% 16.9% $1 $0 15.9% 88% 88% 88% $1 $0 $1 87% 86% $0 $1 $0 $1 $0 $1 $0 $1 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Average Interest Earning Asset Mix
Slide 8: Capital
Capital Equity to Assets / Tangible Common Equity Ratio CET1 / TRBC (non-GAAP)* 17.32% 17.08% $0 16.89% 14.85% 14.93% 14.19% $0 15.15% 14.99% 13.45% 14.80% $0 12.88% 12.73% 12.59% 11.09% $0 9.76% 9.84% 9.99% 10.75% 8.77% $0 8.16% $0 $0 $0 $0 $0 $0 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 2Q 2024 3Q 2
Slide 9: Asset Quality
Asset Quality Criticized Loans/Total Loans Loans 30-89 Days Past Due/ Allowance/Nonperforming Loans 4.00% 1.0% Total Loans 400% 3.50% 3.02% 204% 207% 205% 2.89% 168% 178% 3.00% 0.5% 200% 2.62% 2.66% 0.31% 0.31% 2.45% 0.23% 0.25% 2.50% 0.14% 2.00% 0.0% 0% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 2Q 20
Slide 10: Profitability
Profitability Diluted EPS / Adjusted Diluted EPS (non-GAAP)* Net Income / Adjusted Net Income (non-GAAP)* $1.18 $72.5 $65.9 $43.0 $44.7 $46.5 $0.69 $0.69 $0.70 $0.70 $0.73 $0.65 $0.66 $0.69 $38.8 $38.8 $41.5 $42.1 $1.0 $0.01 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 2Q 2024 3Q Diluted EPS 2024 (GAAP)
Slide 11: Profitability Ratios
Profitability Ratios ROAA / Adjusted ROAA (non-GAAP*) ROAE / Adjusted ROTCE (non-GAAP)* 1.63% 13.50% 12.04% 11.26% 11.38% 10.30% 0.90% 1.03% 0.95% 1.01% 11.29% 0.99% 0.94% 0.90% 0.97% 6.68% 6.70% 6.25% 0.02% 0.11% 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 ROAA (
Slide 12: Net Interest Margin (FTE), Loan Yield and Cost of Deposits
Net Interest Margin (FTE), Loan Yield and Cost of Deposits Net Interest Margin (FTE) / Adjusted Net Interest Loan Yield / Adjusted Loan Yield (non-GAAP)* Margin (FTE)(non-GAAP)* 3.85% 6.63% 6.47% 3.45% 6.41% 6.29% 6.24% 3.36% 3.36% 3.58% 3.31% 6.38% 6.41% 6.27% 6.19% 6.18% 3.42% 3.32% 3.34% 3.29% 2Q
Slide 13: Noninterest Income
Noninterest Income ($ in thousands) 1Q25 2Q25 Change Mix - 2Q 2025 Service charges $ 10,364 $ 13,618 $ 3,254 Fees and commissions 3,787 6,650 2,863 Wealth management 7,067 7,345 278 Mortgage banking 8,147 11,263 3,116 Other Service 20% Charges BOLI 2,929 3,383 454 28% Other 4,101 6,075 1,974 Total $
Slide 14: Noninterest Expense
Noninterest Expense Mix - 2Q 2025 ($ in thousands) 1Q25 2Q25 Change Salaries and employee benefits $ 71,957 $ 99,542 $ 27,585 Other Data processing 4,089 5,438 1,349 15% Intangible Net occupancy and equipment 11,754 17,328 5,574 amortization 5% Advertising and public relations 4,297 4,490 193 Merger
Slide 15: Appendix
Appendix
Slide 16: Available Liquidity and Uninsured Deposits
Available Liquidity and Uninsured Deposits Liquidity Sources $13.6 Internal Sources Cash and cash equivalents $ 1.4 Unencumbered securities 2.0 External Sources FHLB borrowing capacity(1) 5.1 $6.3 Federal Reserve Discount Window 0.6 Other(2) 4.5 Total $ 13.6 Uninsured % of Total Deposits Deposits Av
Slide 17: Securities
Securities Composition (amortized cost) Highlights Other 2% • Amortized cost of $3.7 billion; GAAP value of $3.5 billion, SBA 10% 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 Agency Agency
Slide 18: Non-Owner Occupied CRE – Term
Non-Owner Occupied CRE – Term* Non-Owner Occupied CRE – Term* Highlights 3% Office Warehouse/Industrial Multi-Family (Non-Medical) 6% Hotels 14% Amount $510.6- $1,321.2- Self Storage 18% Multi-family Avg Loan Size1 1.0-- 2.9- 13% Medical Office % of Loans 2.8% 7.1% Office (non-medical) 9% 9% Past Du
Slide 19: Construction
Construction Composition Highlights 1-4 Family 3% Commercial Average Loan Size1 $1.74 million Owner-Occupied 3% Multi-family % of Total Loans 7.2% 10% 29% Office Past Due or Nonaccrual 0.4-- Retail Weighted Average LTV 61.9- 14% (1) Based on commitment amount Self Storage 3% 12% Warehouse / 8% Indus
Slide 20: ACL / Loss Absorption
ACL / Loss Absorption Forward-Looking Statements 3/31/2025 6/30/2025 ACL as a % ACL as a % ($ in thousands) ACL of Loans ACL 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
Slide 21: Q2 ACL Activity
Q2 ACL Activity $62.2 $290.8 $23.5 $203.9 $13.2 Axis Title $(12.0) 1 2 3 Q1 ACL NCO Provision PCD Non-PCD Q2 ACL Axis Title Note: Dollars in millions. (1) Net charge-offs (2) Excludes day 1 acquisition provision for acquired loans from The First 21 (3) Loans purchased with more than insignificant cr
Slide 22: Mortgage Banking
Mortgage Banking Mortgage Banking Income Mix ($ in thousands) 2Q24 1Q25 2Q25 (in %) 2Q24 1Q25 2Q25 Gain on sales of loans, net $ 5,199 $ 4,500 $ 5,316 Wholesale 43 39 33 Fees, net 2,866 2,317 3,740 Retail 57 61 67 Mortgage servicing income, net 1,633 1,330 2,207 Purchase 91 80 84 Mortgage banking in
Slide 23: Selected Purchase Accounting Adjustments
Selected Purchase Accounting Adjustments Estimate at Selected Purchase Accounting Adjustments ($ in millions) Actual at Close Announcement Fair Value Loans $189.0 $143.5 Marks Securities HTM 45.2 58.0 (1) Purchased Credit Deteriorated (“PCD”) 27.0 23.5 Credit Marks Loans Non-PCD Loans 50.1 62.2 Inta
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