Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 134

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 134
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angible assets(169,809)  Other real estate owned2,696   Other assets(15,807)  Deposits7,391   Borrowings2,902   Other liabilities15,903   Deferred income taxes19,666      Total net assets acquired630,896      Goodwill resulting from merger(1)$430,884 (1) The goodwill resulting from the merger has been assigned to the Community Banks operating segment. The following table summarizes the fair value on April 1, 2025 of assets acquired and liabilities assumed on that date in connection with the merger with The First.Cash and cash equivalents$261,484 Securities1,457,203 Loans, including loans held for sale5,174,903 Premises and equipment173,174 Bank-owned life insurance146,601 Other real estate owned11,109 Intangible assets590,494 Other assets173,359 Total assets$7,988,327 Deposits$6,449,394 Borrowings419,165 Other liabilities59,857 Total liabilities$6,928,416 Net assets acquired over liabilities assumed$1,059,911 Cash settlement for stock options, net of tax benefit1,869 Total purchase price$1,061,780 

8

The following table presents additional information related to the acquired loan portfolio at the acquisition date:April 1, 2025PCD loans:Par value$168,511 Allowance for credit losses at acquisition(23,492)Non-credit discount(4,021)Purchase price$140,998 Non-PCD loans:Fair value$5,032,996 Gross contractual amounts receivable5,233,447 Estimate of contractual cash flows not expected to be collected62,190 Supplemental Pro Forma Combined Condensed Consolidated Results of OperationsThe following unaudited pro forma combined condensed consolidated financial information presents the results of operations for the three and six months ended June 30, 2025 and 2024 of the Company as though the merger with The First had been completed as of January 1, 2024. The unaudited pro forma information combines the historical results of The First with the Company’s historical consolidated results and applies the impact of purchase accounting adjustments such as loan discount accretion, deposit amortization and intangible assets amortization as if the merger was completed as