Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 149

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 149
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903 $12,774,209 $15,445 $30,098 $65,268 $110,811 $12,885,020 Collateral Dependent LoansCollateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics with other loans within the Company’s portfolio, and the allowance for credit losses on such loans is evaluated on an individual basis rather than on a collective basis with other pooled loans. The majority of collateral dependent loans consist of commercial purpose loans with collateral comprised of real estate and business assets. Collateral dependent loans were $131,265 and $66,063 at September 30, 2025 and December 31, 2024, respectively. The Company recorded a specific allowance for credit losses on such loans of $27,010 and $15,052 at September 30, 2025 and December 31, 2024, respectively, which reflected the difference between the net realizable value of the collateral and the amortized cost of the loans. The increase in collateral dependent loans from December 31, 2024 is primarily due to acquired collateral dependent loans from The First.Certain Modifications to Borrowers Experiencing Financial DifficultyCertain modifications of loans made to borrowers experiencing financial difficulty in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay (including extension of the amortization period), or a term extension, but excluding covenant waivers and modification of contingent acceleration clauses, are required to be disclosed in accordance with ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). All modifications for the three and nine months ended September 30, 2025 and 2024 and which met the disclosure criteria in ASU 2022-02 were performing in accordance with their modified terms at September 30, 2025 and 2024, respectively. There were unused commitments of $647 and $464 with respect to these loans at September 30, 2025 and September 30, 2024, respectively. Upon the Company’s determination that a modification has subsequently become uncollectible, the loan, or portion of the loan, is charged off, the amortized cost basis of the loan is reduced by the uncollectible amount, and the allowance