Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 94

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 94
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. The increase in data processing costs is attributable to the acquisition of The First and the cost associated with operating two core systems.  Core systems were converted during the third quarter of 2025. The Company continues to examine new and existing contracts to negotiate favorable terms to offset the increased variable cost components of our data processing costs, such as new accounts and increased transaction volume.

Net occupancy and equipment expense for the second quarter of 2025 was $17,359, as compared to $11,844 for the same period in 2024. These expenses for the first six months of 2025 were $29,113, as compared to $23,233 for the same period in 2024. The increase in net occupancy and equipment expense is primarily due to the additional locations and assets attributable to the merger with The First.

Professional fees include fees for legal and accounting services, such as routine litigation matters, external audit services as well as assistance in complying with newly-enacted and existing banking and other governmental regulations. Professional fees were $4,223 for the second quarter of 2025 as compared to $3,195 for the same period in 2024 and were $7,107 for the six months ended June 30, 2025 as compared to $6,543 for the same period in 2024.

Advertising and public relations expense was $4,490 for the second quarter of 2025 as compared to $3,807 for the same period in 2024 and was $8,787 for the six months ended June 30, 2025 as compared to $8,693 for the same period in 2024. During the six months ended June 30, 2025 and 2024, the Company contributed approximately $925 and $1,305, respectively, to charitable organizations throughout Mississippi and Georgia, which contributions are included in our advertising and public relations expense, for which it received a dollar-for-dollar tax credit.

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Amortization of intangible assets totaled $8,884 and $1,186 for the second quarter of 2025 and 2024, respectively, and $9,964 and $2,398 for the six months ended June 30, 2025 and 2024, respectively. This amortization relates to finite-lived intangible assets which are being amortized over the useful lives as determined at acquisition. The increase for the three and six months ended June 30, 2025 is primarily due to the addition of the core deposit intangible