Company: RNST
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000715072-25-000054
Chunk: 107

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 107
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 in connection with certain transactions with respect to which management is unable to accurately predict when these expenses or charges will be incurred or, when incurred, the amount of such expenses or charges. The following table presents the impact of these expenses and charges on reported EPS for the dates presented. The gain on the sale of mortgage servicing rights (“MSRs”), gain on extinguishment of debt and losses on security sales are discussed below under the “Noninterest Income” heading.

Twelve Months Ended December 31, 20242023Pre-taxAfter-taxImpact to Diluted EPSPre-taxAfter-taxImpact to Diluted EPSGain on sale of MSR$(3,724)$(2,793)$(0.05)$(547)$(44)$— Merger and conversion expenses13,349 11,395 0.19 — — — Gain on extinguishment of debt(56)(42)— (620)(503)(0.01)Gain on sale of insurance agency(53,349)(38,951)(0.65)— — — Losses on security sales (including impairments)— — — 41,790 33,926 0.60 Note: Balances in the table above are shown to reflect impact to income if removed (i.e. negative balances for income items and positive balances for expense items).

Net Interest Income

Net interest income, the difference between interest earned on assets and the cost of interest-bearing liabilities, is the largest component of our net income, comprising 71.95% of total net revenue in 2024. Total net revenue consists of net interest income on a fully taxable equivalent basis and noninterest income. The percentage of net interest income as a share of total net revenue decreased from prior years in 2024 due to the sale of our insurance agency and the corresponding increase in noninterest income. If not for the sale of the insurance agency, the percentage of net interest income as a share of total net revenue would be consistent with prior years. The primary concerns in managing net interest income are the volume, mix and repricing of assets and liabilities.

As discussed below, net interest income decreased 1.37% to $512,196 for 2024 compared to $519,327 in 2023. On a tax equivalent basis, net interest income decreased $7,814 to $522,526 in 2024 as compared to $530,340 in 2023. Net interest margin was 3.34% for