Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 53

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 53
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. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures.The Company enters into interest rate lock commitments with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate and adjustable-rate residential mortgage loans. The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors.

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Table of ContentsRenasant Corporation and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented: Balance SheetJune 30, 2025December 31, 2024 LocationNotional AmountFair ValueNotional AmountFair ValueDerivative assets:  Interest rate contractsOther Assets$1,429,422 $29,332 $877,051 $14,071   Interest rate lock commitmentsOther Assets165,367 2,727 64,365 861 Forward commitmentsOther Assets— — 174,000 1,242 Totals$1,594,789 $32,059 $1,115,416 $16,174 Derivative liabilities:  Interest rate contractsOther Liabilities$1,429,734 $29,353 $880,371 $14,094 Interest rate lock commitmentsOther Liabilities1,642 14 1,829 122   Forward commitmentsOther Liabilities354,000 3,397 52,000 86 Totals$1,785,376 $32,764 $934,200 $14,302 Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Interest rate contracts:Included in interest income on loans$6,092 $3,239 $8,981 $6,430 Interest rate lock commitments:Included in mortgage banking income525 (420)1,973 388 Forward commitmentsIncluded in mortgage banking income(2,033)284 (4,552)2,351 Total$4,584 $3,103 $6,402 $9,169 Derivatives designated as cash flow hedgesCash flow hedge relationships mitigate exposure to the variability of future cash flows