Company: RNST
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000715072-25-000054
Chunk: 112

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 112
---
06 6.51 Securities13.34 17.23 2.06 1.97 Interest-bearing balances with banks4.94 3.70 5.12 5.35 Total earning assets100.00 %100.00 %5.73 %5.26 %

In 2024, interest income on loans held for investment, on a tax equivalent basis, increased $87,910 to $801,807 from $713,897 in 2023. This increase was primarily due to a $616,002 increase in our average balance of loans to $12,579,143 in 2024 from $11,963,141 in 2023, bolstered by a continued mix shift from the repricing of maturing fixed rate lower yielding assets into higher yielding assets

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

Twelve months ended December 31, 20242023Net interest income collected on problem loans$770 $219 Accretable yield recognized on purchased loans3,402 4,166 Total impact to interest income on loans$4,172 $4,385 Impact to total loan yield0.03 %0.04 %Impact to net interest margin0.03 %0.03 %

Interest income on loans held for sale, on a tax equivalent basis, increased $1,807 to $13,614 in 2024 from $11,807 in 2023, due to an increase in average balances during 2024, offset by a decrease in the yield on loans held for sale during the year.

45

In 2024, investment income, on a tax equivalent basis, decreased $9,124 to $43,129 from $52,253 in 2023, primarily due to the decrease in the balance of the securities portfolio during the year, offset slightly by the increase in yield on securities during 2024 due to the sale or maturity of lower yielding securities. The following table presents the taxable equivalent yield on securities for the periods presented:

Twelve months ended December 31, 20242023Taxable equivalent interest income on securities$43,129 $52,253 Average securities$2,090,019 $2,646,623 Taxable equivalent yield on securities2.06