Renasant Corporation · NYSE:RNST

Renasant — Keefe Bruyette & Woods Boston Bank Conference 2014

29 slides from Renasant's conference presentation, Feb 27, 2014

  1. Slide 1: Keefe Bruyette & Woods Boston Bank Conference

    Keefe Bruyette & Woods Boston Bank Conference February 26, 2014

  2. Slide 2: Forward-looking statements

    This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Congress passed the Private Securities Litigation Act of 1995 in an effort to encourage corporations to provide information about companies’ anticipated future financial

  3. Slide 3: Over 125 banking, lending, financial services and insurance offices

    Over 125 banking, lending, financial services and insurance offices 3 West 33% North 27% East 30% South 10% Portfolio Loans West 41% North 16% East 28% South 15% Total Deposits Tupelo Nashville Atlanta Birmingham Huntsville Montgomery Jackson Memphis Kosciusko Chattanooga Johnson City Knoxville GEOR

  4. Slide 4: Georgia market franchise

    DADE WALKER CHATOOGA FLOYD POLK HARALSON CARROLL DOUGLAS FULTON FAYETTE HENRY NEWTON WALTON GWINNETT HALL LUMPKIN UNION FANNIN GILMER MURRAY GORDON BARTOW PICKENS CHEROKEE PAULDING COBB DeKALB FORSYTH DAWSON ATLANTA  Entered the North GA market through two FDIC loss share transactions  12 full-ser

  5. Slide 5: Alabama markets

    • Entered the Montgomery and Tuscaloosa markets during late 3Q11 with the hiring of an experienced management team well entrenched in the respective markets • Acquired RBC Bank USA’s Birmingham, AL Trust unit on Sept 1, 2011 with assets under management of $680M Account retention exceeded 95% • Bir

  6. Slide 6: North Mississippi markets

     Entered the Columbus, MS market in November 2010 and opened an office in Starkville, home of Mississippi State University, during late 3Q11 Columbus is home of the Columbus Air Force Base which trains one-third of the nation’s pilots, and has a $250M economic impact Yokohama Tire Corporation ann

  7. Slide 7: Tennessee markets

    • Since opening the Knoxville/Maryville MSA location in late 2Q12, East Tennessee operations currently have 4 full- service branches, $146 million in loans and $70 million in deposits • Added new lending teams in both Memphis and Nashville during 2013 • Tennessee ranked 7th best state to do business

  8. Slide 8: Execution of Strategic Initiatives

    Capitalize on Opportunities Leverage Existing Markets FDIC Assisted Acquisitions Seek New Markets Enhance Lines of Business Build Capital Ratios Selective Balance Sheet Growth Maintain Dividend Non-TARP Participant Enhance Profitability Managed Asset Growth Loan Growth Core Deposit Growth Net Int Ma

  9. Slide 9: Renasant footprint map

    RNST Nashville Memphis TENNESSEE Tupelo Jackson MISSISSIPPI Birmingham Huntsville Montgomery Atlanta GEORGIA ALABAMA Source: SNL Financial 9

  10. Slide 10: Expansion timeline: acquisitions and de novo branches

    2 0 1 0 July 23 FDIC-assisted transaction: Crescent Bank and Trust Company headquartered in Jasper, Georgia; assets ~ $1 billion September 8 De novo expansion: Columbus, Mississippi 2 0 11 February 4 FDIC-assisted transaction: American Trust Bank headquartered in Roswell, Georgia; assets ~ $145 mill

  11. Slide 11: Expansions in 2010-2013

    Tupelo Nashville Atlanta Birmingham Huntsville Montgomery Jackson Memphis Kosciusko Chattanooga Johnson City Knoxville GEORGIA ALABAMA MISSISSIPPI TENNESSEE Source: SNL Financial, Company documents Expansions in 2010 – 2013 RNST De Novo FMFC Acquisition 11

  12. Slide 12: De novo market loans and deposits

    12 2012 2012 2013 2013 2012 2012 2013 2013 Sep Dec Sep Dec Sep Dec Sep Dec Montgomery 58,852 61,743 73,703 76,529 22,224 20,272 30,026 26,869 Tuscaloosa 22,621 23,830 34,487 36,006 8,858 31,060 14,135 45,384 Columbus 18,597 20,285 26,478 28,412 44,469 48,125 64,505 66,236 Starkville 38,755 32,059 38

  13. Slide 13: Enhance Profitability

    Enhance Profitability Managed Asset Growth Loan Growth Core Deposit Growth Net Int Margin Expansion/Int Rate Risk Noninterest Expense Control Execution of Strategic Initiatives Capitalize on Opportunities Leverage Existing Markets FDIC Assisted Acquisitions Seek New Markets Enhance Lines of Business

  14. Slide 14: Total assets and deposits

    • Managed deposit mix by emphasizing core deposit growth while allowing higher- priced, non-core deposits to erode • Significantly paid down high- costing borrowings • Restructured asset mix by redeploying excess cash levels into higher yielding investments and loans • Loan demand will drive deposit

  15. Slide 15: Loan growth

    4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Non- Aquired $2,191 $2,190 $2,186 $2,205 $2,242 $2,282 $2,392 $2,540 $2,573 $2,594 $2,683 $2,794 $2,886 Acquired Covered* $334 $387 $377 $360 $339 $318 $290 $260 $237 $214 $201 $196 $182 Acquired M&F - - - - - - - - - - - $891 $813 Tot

  16. Slide 16: Loan portfolio composition

    • Loans totaled $3.88B 26% of portfolio is acquired and carried at fair value • Owner occupied/C&I loans comprise 33% of the non covered loan portfolio Const 4% Land Dev 6% 1-4 Family 25% 1-4 Family Rental 5% Non Owner Occupied 27% Owner Occupied 20% C&I 13% Non-Covered Loans $3.70B Const 1% Land D

  17. Slide 17: Deposit mix and cost of funds

    DDA 10% Other Int Bearing Accts 36% Time Deposits 39% Borrowed Funds 15% 2008 Cost of Funds 2.81% $3.28B DDA 18% Other Int Bearing Accts 48% Time Deposits 31% Borrowed Funds 3% 2013 $5.01B Cost of Funds .51% - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 2008 200

  18. Slide 18: Net interest income and margin

    0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 2010 2011 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Marg in Y ie ld /C os t Yield on Earning Assets Cost of Funds Margin 2011 2012 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Net Interest Income 129,077 133,338 32,843 33,4

  19. Slide 19: Noninterest income

    34% 10% 7% 12% 29% 8% 4Q13 $18.3M Svc Chgs Insurance Mtg Gains Wealth Mgmt Fees & Comm Other • Diversified sources of noninterest income Less reliant on NSF • Opportunities for growing Non Interest Income Expansion of Trust Division Wealth Management Services into larger, metropolitan markets Exp

  20. Slide 20: Noninterest expense and efficiency ratio

    • Continued focus on managing noninterest expenses and improving efficiency • Provided resources for nine de novo expansions over last 2 years • Increased mortgage loan expense driven by higher mortgage production • OREO and problem loan expense down approximately 49% Y-O-Y • Incurred merger related

  21. Slide 21: Aggressively Manage Problem Credits

    Capitalize on Opportunities Leverage Existing Markets FDIC Assisted Acquisitions Seek New Markets Enhance Lines of Business Build Capital Ratios Selective Balance Sheet Growth Maintain Dividend Non-TARP Participant Enhance Profitability Managed Asset Growth Loan Growth Core Deposit Growth Net Int Ma

  22. Slide 22: Nonperforming assets

     49% of total NPAs are covered under FDIC loss share  Non-acquired NPAs declined 37% on a Y-O-Y basis  Non-acquired NPAs approaching pre-credit cycle levels. 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 2008 2009 2010 2011 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Non-Acquired Acquired Covered A

  23. Slide 23: Provision, net charge-offs and allowance coverage

    *Ratios excludes loans and assets acquired in connection with the M&F acquisition or loss share transactions 0.00% 50.00% 100.00% 150.00% 200.00% 250.00% 300.00% $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 ($)Provision for Loan Loss

  24. Slide 24: NPLs and early-stage delinquencies

    $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 2008 2009 2010 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 39.9 50.0 53.8 57.2 51.9 49.0 34.9 30.4 30.0 32.0 30.2 28.0 22.5 22.1 19.1 48.5 24.1 21.5 18.9 17.5 16.4 15.8 13.4 14.5 14.1 8.0 8.3 7.2 8.0 8.9 NPLs 30-89 Days Continued Imp

  25. Slide 25: Other real estate owned

    17% 30% 23% 30% 4Q13 $27.5M Residential Properties Residential Land Dev Commercial Properties Commercial Land Dev • OREO* totaled $39.9M at 4Q13, • Geographic segmentation* • West TN $ 6.8M • MS (Excluding DeSoto) 7.0M • DeSoto 6.4M • Mid TN 3.8M • AL 3.5M • M&F 12.4M Changes in OREO Non- Covered 20

  26. Slide 26: Build Capital Ratios

    Capitalize on Opportunities Leverage Existing Markets FDIC Assisted Acquisitions Seek New Markets Enhance Lines of Business Build Capital Ratios Selective Balance Sheet Growth Maintain Dividend Non-TARP Participant Enhance Profitability Loan Growth Core Deposit Growth Net Int Margin Expansion/Int Ra

  27. Slide 27: Capital ratios

    4.50% 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 2007 2008 2009 2010 2011 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Tangible Common Equity Ratio Renasant Capital 2008 2009 2010 2011 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Tangible Common Equity 5.87% 6.34% 6.76% 7.35% 7.47% 7.65% 7.69% 7.71% 7.65% 7.66

  28. Slide 28: Summary: $5.8B franchise in attractive Southeast markets

     $5.8B franchise well positioned in attractive markets in the Southeast  Strategic focus on expanding footprint • Acquisition • De Novo • New lines of business Opportunity for further profitability improvement Organic loan growth Core deposit growth Revenue growth Declining credit costs  Imp

  29. Slide 29: Management contacts

    E. Robinson McGraw Chairman, President and Chief Executive Officer Kevin D. Chapman Executive Vice President and Chief Financial Officer 209 TROY STREET TUPELO, MS 38804-4827 PHONE: 1-800-680-1601 FACSIMILE: 1-662-680-1234 WWW.RENASANT.COM WWW.RENASANTBANK.COM 29

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