Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 58

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 58
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asant Corporation and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

The Company enters into interest rate lock commitments with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate and adjustable-rate residential mortgage loans. The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors.

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Table of ContentsRenasant Corporation and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented: Balance SheetSeptember 30, 2025December 31, 2024 LocationNotional AmountFair ValueNotional AmountFair ValueDerivative assets:  Interest rate contractsOther Assets$1,602,805 $30,131 $877,051 $14,071   Interest rate lock commitmentsOther Assets126,983 1,722 64,365 861 Forward commitmentsOther Assets106,000 330 174,000 1,242 Totals$1,835,788 $32,183 $1,115,416 $16,174 Derivative liabilities:  Interest rate contractsOther Liabilities$1,603,104 $30,178 $880,371 $14,094 Interest rate lock commitmentsOther Liabilities13,528 39 1,829 122   Forward commitmentsOther Liabilities189,000 1,304 52,000 86 Totals$1,805,632 $31,521 $934,200 $14,302 Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Interest rate contracts:Included in interest income on loans$8,784 $3,958 $17,765 $10,388 Interest rate lock commitments:Included in mortgage banking income(1,029)(261)944 127 Forward commitmentsIncluded in mortgage banking income2,423 (1,167)(2,129)1,184 Total$10,178 $2,530 $16,580 $11,699 Derivatives designated as cash flow hedgesCash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted