Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 93

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 93
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 30, 2025 as compared to $2,701 for the same period in 2024, and $6,312 for the six months ended June 30, 2025 as compared to $5,392 for the same period in 2024. The increase in BOLI income is primarily due to the acquisition of BOLI from The First with a cash surrender value of $146,601.

Other noninterest income was $6,075 and $3,691 for the three months ended June 30, 2025 and 2024, respectively, and was $10,176 and $8,115 for the six months ended June 30, 2025 and 2024, respectively. Other noninterest income includes income from our SBA banking division, our capital markets division and other miscellaneous income and can fluctuate based on production in our SBA banking and capital markets divisions and recognition of other seasonal income items.

Noninterest Expense

Noninterest Expense to Average AssetsThree Months Ended June 30,Six Months Ended June 30,2025 20242025 20242.81%2.59%2.71% 2.62%

Noninterest expense was $183,204 and $111,976 for the second quarter of 2025 and 2024, respectively, and was $297,080 and $224,888 for the six months ended June 30, 2025 and 2024, respectively. The increase is primarily due to $21,270 in expenses relating to the merger with The First and additional expenses associated with the operations of The First. 

Salaries and employee benefits increased $28,811 to $99,542 for the second quarter of 2025 as compared to $70,731 for the same period in 2024. Salaries and employee benefits increased $29,298 to $171,499 for the six months ended June 30, 2025 as compared to $142,201 for the same period in 2024. The increase in salaries and employee benefits is primarily attributable to the addition of The First employees, and to a lesser extent to annual merit increases implemented in April 2025.

Data processing costs were $5,438 in the second quarter of 2025 as compared to $3,945 for the same period in 2024 and were $9,527 for the six months ended June 30, 2025 as compared to $7,752 for the same period in 2024