Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 42

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 42
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 SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

Balance at January 1, 2025$72,991 Capitalization2,236 Amortization(2,325)Balance at March 31, 2025$72,902 Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented: March 31, 2025December 31, 2024Unpaid principal balance$6,044,719 $6,008,937 Weighted-average prepayment speed (CPR)10.11 %9.48 %Estimated impact of a 10% increase$(3,184)$(3,134)Estimated impact of a 20% increase(6,149)(6,062)Discount rate11.06 %11.05 %Estimated impact of a 10% increase$(3,643)$(3,809)Estimated impact of a 20% increase(7,020)(7,336)Weighted-average coupon interest rate4.36 %4.29 %Weighted-average servicing fee (basis points)35.80 35.91 Weighted-average remaining maturity (in years)7.17.3 

The Company recorded servicing fees of $3,656 and $4,088 for the three months ended March 31, 2025 and 2024, respectively, all of which are included in “Mortgage banking income” in the Consolidated Statements of Income. 

Note 8 - Employee Benefit and Deferred Compensation Plans

(In Thousands, Except Share Data)Pension and Post-retirement Medical PlansThe Company sponsors a noncontributory defined benefit pension plan, under which participation and benefit accruals ceased as of December 31, 1996, and it provides retiree medical benefits, consisting of the opportunity to purchase coverage at subsidized rates under the Company’s group medical plan.Information related to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits”) and to the post-retirement health and life plan (“Other Benefits”) as of the dates presented is as follows: Pension BenefitsOther BenefitsThree Months EndedThree Months Ended March 31,March 31, 2025202420252024Interest cost$237 $227 $5 $5 Expected return on plan assets(267)(248)— — Recognized actuarial loss (gain)121 129