Company: RNST
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000715072-25-000054
Chunk: 122

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 122
---
 Loans to Average Loans202420230.16%0.16%

50

The table below reflects the activity in the allowance for credit losses on loans for the years ended December 31:

20242023Balance at beginning of year$198,578 $192,090 Initial allowance for purchased loans with more than insignificant credit deterioration existing at the date of acquisition— 25 Provision for credit losses on loans11,248 18,793 Charge-offsCommercial, financial, agricultural4,463 8,838 Lease financing642 1,524 Real estate – construction145 57 Real estate – 1-4 family mortgage966 417 Real estate – commercial mortgage5,737 5,568 Installment loans to individuals1,856 2,636 Total charge-offs13,809 19,040 RecoveriesCommercial, financial, agricultural1,710 3,090 Lease financing34 18 Real estate – construction— 48 Real estate – 1-4 family mortgage166 389 Real estate – commercial mortgage2,278 712 Installment loans to individuals1,551 2,453 Total recoveries5,739 6,710 Net charge-offs8,070 12,330 Balance at end of year$201,756 $198,578 Provision for credit losses on loans to average loans0.09 %0.16 %Net charge-offs to average loans 0.06 %0.10 %Net charge-offs to allowance for credit losses on loans4.00 %6.21 %Allowance for credit losses on loans to:Total loans1.57 %1.61 %Nonperforming loans178.11 %286.26 %Nonaccrual loans182.07 %288.56 %Nonaccrual loans to total loans:0.88 %0.56 %

The decrease in the ratio of the allowance for credit losses on loans to each of nonperforming loans and nonaccrual loans is primarily attributable to the increase in nonaccrual loans from the prior year. The migration of three large relationships accounted for a significant majority of the increase in nonaccrual loans from 2023. The reserve for each loan, if any, is derived from the value of the underlying collateral and is believed to be sufficient to cover any expected loss.

51

The table below reflects net charge-offs