Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 9

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 9
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 of aggressive rate hikes that began in 2022 and continued into 2023, we expected the federal funds rate to stabilize in 2024 and then decline moderately in the second half of the year. This rate forecast would result in a decline of net interest income and net interest margin compression, as the increase in deposit costs would outpace the increase in loan yields (which had benefited from the rate hikes in 2022 and 2023). The actions taken by the Federal Reserve during 2024 generally aligned to the rate forecast used in our budgeting process; however, the Company managed its liquidity position and overall cost of funding more effectively, driving performance that exceeded budgeted expectations. Better than expected credit loss experience and improvement in our effective tax rate also contributed to Renasant’s performance relative to expectations in 2024. A comprehensive discussion of our executive compensation program and Mr. Waycaster’s and our other named executive officers’ compensation in 2024, including the performance measures we used to calculate their annual cash awards and decisions we made with respect to equity compensation, a portion of which is performance-based, can be found below in the Compensation Discussion and Analysis section.

Supporting Our Customers, Communities and Employees - 2024 Highlights

Our vision is to be the financial services advisor and provider of choice in every community we serve, continuously adapting to an ever-changing financial landscape. Guided by our mission, we are committed to delivering high-quality financial services and expert advice that create security and opportunity for our employees, understanding and meeting the evolving needs of our customers, being active and responsible corporate citizens, and generating long-term value for our shareholders. Throughout 2024, we remained focused on fulfilling this mission by implementing strategic business practices that address the needs of our employees, customers, communities, and shareholders.

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| Our Customers   |     | •We continued to see greater engagement and obtain meaningful feedback from our customers through our Voice of the Customer program, RNSTX, giving Renasant insight into how, when and where our customers prefer to bank with us. In 2024, our customers completed over 19,100 evaluations for our Retail Branches, Customer Experience Center (including Virtual Bankers), Treasury Solutions Team, and Digital Channels. Of the completed evaluations, approximately 65% received a perfect satisfaction score.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 •Once again, cultivating and igniting a sales and service culture throughout Renasant was one of our key priorities in 2024, ensuring collaboration, consistency,