Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 230

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 230
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 credit exposures that are unconditionally cancellable by the Company. A roll-forward of the allowance for credit losses on unfunded commitments is shown in the tables below.

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Three Months Ended March 31,20252024Allowance for credit losses on unfunded loan commitments:Beginning balance$14,943 $16,918 Provision for (recovery of) credit losses on unfunded loan commitments2,700 (200)Ending balance$17,643 $16,718 

The increase in the provision for credit losses on unfunded commitments during the first quarter of 2025, as compared to the first quarter of 2024 was largely driven by an increase in real estate construction commitments.

Nonperforming Assets.  Nonperforming assets consist of nonperforming loans and other real estate owned. Nonperforming loans are those on which the accrual of interest has stopped or loans which are contractually 90 days past due on which interest continues to accrue. Generally, the accrual of interest is discontinued when the full collection of principal or interest is in doubt or when the payment of principal or interest has been contractually 90 days past due, unless the obligation is both well secured and in the process of collection. Management, the problem asset resolution committee and our loan review staff closely monitor loans that are considered to be nonperforming.

Other real estate owned consists of properties acquired through foreclosure or acceptance of a deed in lieu of foreclosure. These properties are carried at the lower of cost or fair market value based on appraised value less estimated selling costs. Losses arising at the time of foreclosure of properties are charged against the allowance for credit losses on loans. Reductions in the carrying value subsequent to acquisition are charged to earnings and are included in “Other real estate owned” in the Consolidated Statements of Income.

The following table provides details of the Company’s nonperforming assets as of the dates presented. 

March 31, 2025December 31, 2024Nonaccruing loans$98,638 $110,811 Accruing loans past due 90 days or more95 2,464 Total nonperforming loans98,733 113,275 Other real estate owned8,654 8,673 Total nonperforming assets$107,387 $121,948 Nonperforming loans to total loans0.76 %0.88 %Nonaccruing loans to total loans0.76 %0.88