Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 50

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 50
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 and other factors, and is subject to significant fluctuation as a result of actual prepayment speeds, default rates and losses differing from estimates thereof. For example, an increase in mortgage interest rates or a decrease in actual prepayment speeds may cause positive adjustments to the valuation of the Company’s MSRs.MSRs are evaluated for impairment (or reversals of prior impairments) quarterly based upon the fair value of the rights as compared to the carrying amount. Impairment is recognized through a valuation allowance in the amount that unamortized cost exceeds fair value. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the valuation allowance may be recorded as an increase to income. Changes in valuation allowances related to servicing rights are reported in “Mortgage banking income” on the Consolidated Statements of Income. There was no valuation adjustment on MSRs during the six months ended June 30, 2025 or 2024.Changes in the Company’s MSRs were as follows:Balance at January 1, 2025$72,991 Sale of MSRs(7,886)Capitalization4,021 Amortization(4,587)Balance at June 30, 2025$64,539 Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented: June 30, 2025December 31, 2024Unpaid principal balance$5,529,115 $5,874,481 Weighted-average prepayment speed (CPR)9.84 %8.87 %Estimated impact of a 10% increase$(2,816)$(3,066)Estimated impact of a 20% increase(5,437)(5,941)Discount rate10.49 %11.09 %Estimated impact of a 10% increase$(3,193)$(3,924)Estimated impact of a 20% increase(6,151)(7,557)Weighted-average coupon interest rate4.45 %4.13 %Weighted-average servicing fee (basis points)34.11 36.06 Weighted-average remaining maturity (in years)7.17.5 

The Company recorded servicing fees of $3,001 and $3,780 for the three months ended June 30, 2025 and 2024, respectively, and $6,656 and $7,869 for the six months ended June