Renasant (RNST) investor relations material

Executive summary

• Net income for Q2 2026 was $87.1 million, with both diluted and adjusted diluted EPS at $0.94, up 36% year-over-year, reflecting strong profitability and performance ahead of the prior year.

• Adjusted return on average assets rose to 1.3% from 1.01% year-over-year, and adjusted return on average tangible common equity increased to 16.25% from 13.5%.

• Net interest income (FTE) for Q2 2026 was $227.7 million, with a net interest margin of 3.83%, down 4 basis points sequentially; adjusted net interest margin remained flat at 3.61%.

• Noninterest income increased $0.9 million sequentially, while noninterest expense rose $6.2 million, mainly due to higher compensation accruals, health insurance claims, and merit increases.

• Focus on expanding core banking relationships and talent acquisition positions the company for continued growth in the second half of 2026.

Financial highlights

• Loans grew by $220.9 million sequentially (4.7% annualized), including a $58.3 million portfolio acquisition; deposits declined by $398.4 million, mainly due to $367.7 million in seasonal public fund outflows.

• Book value per share was $42.35 and tangible book value per share was $25.34, both increasing sequentially.

• Return on average assets was 1.30% for Q2 2026, and return on average equity was 9.07%.

• Adjusted efficiency ratio improved to 54.92%; reported efficiency ratio was 57.92%.

• Credit loss provision on loans was $3.8 million; allowance for credit losses as a percentage of total loans declined to 1.54%.

Outlook and guidance

• Loan production pipeline is up 6%-10% from the start of Q2, supporting mid-single digit loan growth guidance for the remainder of the year.

• Deposit growth expected to rebound in the second half as seasonal public fund outflows reverse and core deposit trends remain strong.

• Net interest margin expected to remain stable, with tailwinds from loan repricing and securities roll-off.

• Core non-interest expense is expected to moderate in Q3 and remain steady for the rest of the year, with some variability based on hiring success.

• Management highlighted ongoing risks from economic conditions, interest rates, integration of acquisitions, and regulatory changes.