Company: RNST
Filing Date: 2025-02-07
Form Type: S-3
Source: 0000715072-25-000030
Chunk: 15

Company: RENASANT CORP
Filing Date: 2025-02-07
Form: S-3
Chunk 15
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#### Dividend Rights
Holders of our common stock are entitled to receive dividends or distributions, whether payable in cash or otherwise, if, as and when declared by our board of directors, out of funds legally available for these payments. Under the MBCA, we may not pay a dividend if, after paying such dividend, (1) we would not be able to pay our debts as they become due or (2) our total assets would be less than the sum of our total liabilities plus the amount that would be needed to satisfy upon dissolution the preferential rights of shareholders, if any, whose rights are superior to those receiving the distribution.

As a bank holding company, our ability to pay dividends is substantially dependent on the ability of Renasant Bank, our wholly-owned subsidiary, to transfer funds to us in the form of dividends, loans and advances. Accordingly, our declaration and payment of dividends depends upon the Bank’s earnings and financial condition, as well as upon general economic conditions and other factors. In addition, under Mississippi law, a Mississippi bank may not pay dividends unless its earned surplus is in excess of three times capital stock. A Mississippi bank with earned surplus in excess of three times capital stock may pay a dividend, subject to the approval of the Mississippi Department of Banking and Consumer Finance (the “DBCF”). In addition, the Federal Deposit Insurance Corporation (the “FDIC”) also has the authority to prohibit the Bank from engaging in business practices that the FDIC considers to be unsafe or unsound, which, depending on the financial condition of the Bank, could include the payment of dividends. Accordingly, the approval of the DBCF is required prior to the Bank paying dividends to us, and under certain circumstances the approval of the FDIC may be required. Finally, Federal Reserve regulations limit the amount the Bank may transfer to us in the form of a loan unless such loan is collateralized by specific obligations.

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In addition to the FDIC and DBCF restrictions on dividends payable by the Bank to Renasant, the Federal Reserve provided guidance on the criteria that it will use to evaluate the request by a bank holding company such as Renasant to pay dividends in an aggregate amount that will exceed the bank holding company’s earnings for the period in which the dividends will be paid, which did not apply to Renasant in 2024 or through the date of this prospectus. For purposes of this analysis, “dividend” includes not only dividends on preferred and common equity but also dividends on