Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 81

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 81
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 proceeds generated by the Company’s subordinated notes and trust preferred securities transactions have been used for general corporate purposes, including providing capital to support the Company’s growth organically or through strategic acquisitions, repaying indebtedness and financing investments and capital expenditures, and for investments in Renasant Bank as regulatory capital. The subordinated notes and trust preferred securities qualify as Tier 2 capital under current regulatory guidelines.

Results of Operations

Net Income

Net income for the second quarter of 2025 was $1,018 compared to net income of $38,846 for the second quarter of 2024. Basic and diluted earnings per share (“EPS”) for the second quarter of 2025 were $0.01, as compared to basic and diluted EPS of $0.69 for the second quarter of 2024. Net income for the six months ended June 30, 2025, was $42,536 compared to net income of $78,255 for the same period in 2024. Basic and diluted EPS were $0.54 and $0.53, respectively for the first six months of 2025 as compared to $1.39 and $1.38 for the first six months of 2024.

From time to time, the Company incurs expenses and charges or recognizes valuation adjustments in connection with certain transactions with respect to which management is unable to accurately predict when these items will be incurred or, when incurred, the amount of such items. The following table presents the impact of these items on reported EPS for the dates presented.

54

Three Months Ended June 30, 2025June 30, 2024Pre-taxAfter-taxImpact to Diluted EPSPre-taxAfter-taxImpact to Diluted EPSMerger and conversion expenses$(20,479)$(15,875)$(0.17)$— $— $— Day 1 acquisition provision(66,612)(50,026)(0.53)$— $— $— Gain on sale of MSR1,467 1,102 0.01 $— $— $— Six Months Ended June 30, 2025June 30, 2024Pre-taxAfter-taxImpact to Diluted EPSPre-taxAfter-taxImpact to Diluted EPSMerger and conversion expenses$(21,270)$(16,470)$(0.21)$— $— $— Day 1 acquisition provision(66,612)(50,026)(0