Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 73

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 73
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.14 2.32 2.04 Other5.11 3.72 4.25 5.49 Total earning assets100.00 %100.00 %5.61 %5.66 %

For the first quarter of 2025, interest income on loans held for investment, on a tax equivalent basis, increased $4,864 to $199,504 from $194,640 for the same period in 2024. The year-to-date average balance of loans held for investment increased $558,893 from March 2024, thereby resulting in the increase in interest income on loans held for investment for the three months ended March 31, 2025, as compared to the same period in 2024.

The impact from interest income collected on problem loans and purchase accounting adjustments on loans to total interest income on loans held for investment, loan yield and net interest margin is shown in the following table for the periods presented.

48

Three Months Ended March 31, 20252024Net interest income collected on problem loans$1,026 $123 Accretable yield recognized on purchased loans558 800 Total impact to interest income on loans$1,584 $923 Impact to loan yield0.05 %0.03 %Impact to net interest margin0.03 %0.02 %

Interest income on loans held for sale (consisting of mortgage loans held for sale) increased $700 to $3,008 for the first quarter of 2025 from $2,308 for the same period in 2024.

Investment income, on a tax equivalent basis, increased $1,404 to $12,414 for the first quarter of 2025 from $11,010 for the first quarter of 2024. The tax equivalent yield on the investment portfolio for the first quarter of 2025 was 2.32%, up 28 basis points from 2.04% for the same period in 2024.

Interest expense was $86,133 for the first quarter of 2025 as compared to $89,889 for the same period in 2024.

The following table presents, by type, the Company’s funding sources, which consist of total average deposits and borrowed funds, and the total cost of each funding source for the periods presented:

 Percentage of Total Average Deposits and Borrowed FundsCost of FundsThree Months EndedThree Months Ended March 31,March 31,