Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 181

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 181
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’s fixed-rate subordinated notes. The agreements convert a fixed rate of interest to a variable rate of interest based on SOFR. The Company also utilizes fair value hedges to manage interest rate exposure on certain fixed rate available-for-sale securities. The agreements convert the fixed interest rates to variable interest rates based on SOFR.The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented: Balance SheetSeptember 30, 2025December 31, 2024 LocationNotional AmountFair ValueNotional AmountFair ValueDerivative liabilities:  Interest rate swaps - subordinated notesOther Liabilities$100,000 $12,597 $100,000 $17,369 Interest rate swaps - securitiesOther Liabilities$22,410 $56 $— $— Totals$122,410 $12,653 $100,000 $17,369 The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented: Amount of Gain (Loss) Recognized in IncomeIncome StatementThree Months Ended September 30,Nine Months Ended September 30, Location2025202420252024Derivative liabilities:  Interest rate swaps - subordinated notesInterest Expense$842 $4,042 $4,771 $2,705 Interest rate swaps - securitiesInterest Income(56)— (56)— Derivative liabilities - hedged items:  Interest rate swaps - subordinated notesInterest Expense$(842)$(4,042)$(4,771)$(2,705)Interest rate swaps - securitiesInterest Income56 — 56 — The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:Carrying Amount of the Hedged ItemCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged ItemBalance Sheet LocationSeptember 30, 2025December 31, 2024September 30, 2025December 31, 2024Long-term debt$86,549 $81,648 $12,597 $17,369 Securities available for sale17,081 — 56 — Credit DerivativesThe Company has both bought and sold credit protection in the form of risk participation agreements. These risk participations