Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 265

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 2
Chunk 265
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 our merger with The First on April l, 2025, the year-to-date average balance of loans held for investment increased $4,220,246 from September 2024, thereby resulting in the increase in interest income on loans held for investment for the three and nine months ended September 30, 2025, as compared to the same periods in 2024.

The impact from interest income collected on problem loans and purchase accounting adjustments on loans to total interest income on loans held for investment, loan yield and net interest margin is shown in the following table for the periods presented.

Three Months EndedNine Months Ended September 30,September 30, 2025202420252024Net interest income collected on problem loans$664 $642 $4,469 $619 Accretable yield recognized on purchased loans16,862 1,089 35,254 2,786 Total impact to interest income on loans$17,526 $1,731 $39,723 $3,405 Impact to loan yield0.37 %0.05 %0.32 %0.04 %Impact to net interest margin0.23 %0.04 %0.20 %0.03 %

Interest income on loans held for sale (consisting of mortgage loans held for sale) increased $463 to $4,675 for the third quarter of 2025 from $4,212 for the same period in 2024. Interest income on loans held for sale (consisting of mortgage loans held for sale) for the nine months ended September 30, 2025 was $12,322 as compared to $10,050 for the same period  in 2024.

Investment income, on a tax equivalent basis, increased $20,433 to $31,035 for the third quarter of 2025 from $10,602 for the third quarter of 2024. Investment income, on a tax equivalent basis, increased $40,354 to $72,675 for the nine months ended September 30, 2025 from $32,321 for the same period in 2024. The increase in investment income, on a tax equivalent basis, was primarily due to the acquisition of The First’s investment portfolio. The tax equivalent yield on the investment portfolio for the third quarter of 2025 was 3.38%, up 132 basis points from 2.06% for the same period in 2024