Renasant (RNST) investor relations material

Executive summary

• Net income was $78.9 million and diluted EPS was $0.86; adjusted EPS rose 12% YoY from $0.77.

• Loans grew $555.9 million QoQ as credit indicators improved; total deposits declined $73.2 million, and reported margin eased.

Financial highlights

• FTE net interest income was $228.6 million, up $0.9 million QoQ; core net interest income rose $5.8 million QoQ, or 11% annualized, excluding specified accretion.

• Noninterest income fell $1.9 million QoQ, mainly on lower mortgage banking income; noninterest expense declined $1.2 million to $160.3 million.

• Q3 provision for credit losses was $13.3 million: $10.1 million for loans and $3.2 million for unfunded commitments.

Outlook and guidance

• Mid-single-digit balance-sheet growth remains the target, subject to margin and underwriting standards; management will not sacrifice credit quality or yield to force growth.

• Core NIM has modest upside potential over the next few quarters; Q3 core deposit cost rose 1 bp while loan yields increased.

• Q4 expenses are expected to rise slightly, partly from hiring and merger costs; fee income may decline modestly, mainly due to mortgage softness.

• Q4 total accretable yield is estimated at $10 million, including $1.5 million accelerated; accelerated accretion is expected to decline during 2027.

• Loan pipeline eased from early Q3 but remains healthy; management expects a good Q4, with a possible holiday-related slowdown late in the year.