Company: RNST
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000715072-25-000054
Chunk: 111

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 111
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1,807 (1,118)3,713 2,595 Securities:Taxable(9,871)2,635 (7,236)(6,997)5,847 (1,150)Tax-exempt(1,497)(391)(1,888)(1,602)(400)(2,002)Interest-bearing balances with banks10,503 (1,321)9,182 (3,800)25,322 21,522 Total interest-earning assets39,661 50,114 89,775 48,936 209,180 258,116 Interest expense:Interest-bearing demand deposits21,651 66,182 87,833 (257)113,147 112,890 Savings deposits(486)183 (303)(149)2,323 2,174 Brokered deposits(25,025)1,928 (23,097)34,798 169 34,967 Time deposits20,402 29,426 49,828 4,351 42,741 47,092 Borrowed funds(17,553)881 (16,672)12,535 7,822 20,357 Total interest-bearing liabilities(1,011)98,600 97,589 51,278 166,202 217,480 Change in net interest income$40,672 $(48,486)$(7,814)$(2,342)$42,978 $40,636 

The daily average balances of nonaccruing assets are included in the foregoing table. Interest income and weighted average yields on tax-exempt loans and securities have been computed on a fully tax equivalent basis assuming a federal tax rate of 21% and a state tax rate of 4.45%, which is net of federal tax benefit.

Interest income, on a tax equivalent basis, was $898,107 for 2024 compared to $808,332 for 2023, an increase of $89,775. The following table presents the percentage of total average earning assets, by type and yield, for 2024 and 2023:

 Percentage of TotalYield 2024202320242023Loans held for investment80.29 %77.89 %6.37 %5.97 %Loans held for sale1.43 1.18 6.