Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 41

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 41
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$(72,699)$9,793 Customer relationship intangible7,670 (4,438)3,232 Total finite-lived intangible assets$90,162 $(77,137)$13,025 December 31, 2024Core deposit intangibles$82,492 $(71,881)$10,611 Customer relationship intangible7,670 (4,176)3,494 Total finite-lived intangible assets$90,162 $(76,057)$14,105 Amortization expense for finite-lived intangible assets is presented in the table below.Three Months EndedMarch 31,20252024Amortization expense for:  Core deposit intangibles$818 $914   Customer relationship intangible262 298 Total intangible amortization$1,080 $1,212 

Note 7 – Mortgage Servicing Rights

(In Thousands)The Company retains the right to service certain mortgage loans that it sells to secondary market investors. These mortgage servicing rights (“MSRs”) are recognized as a separate asset on the date the corresponding mortgage loan is sold. MSRs are amortized in proportion to and over the period of estimated net servicing income. These servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions, including expected cash flows, prepayment speeds, market discount rates, servicing costs, and other factors, and is subject to significant fluctuation as a result of actual prepayment speeds, default rates and losses differing from estimates thereof. For example, an increase in mortgage interest rates or a decrease in actual prepayment speeds may cause positive adjustments to the valuation of the Company’s MSRs.MSRs are evaluated for impairment (or reversals of prior impairments) quarterly based upon the fair value of the rights as compared to the carrying amount. Impairment is recognized through a valuation allowance in the amount that unamortized cost exceeds fair value. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the valuation allowance may be recorded as an increase to income. Changes in valuation allowances related to servicing rights are reported in “Mortgage banking income” on the Consolidated Statements of Income. There was no valuation adjustment on MSRs during the three months ended March 31, 2025 or 2024.Changes in the Company’s MSRs were as follows:

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Table of ContentsRenasant Corporation and