Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 239

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 239
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 1.44 Subordinated notes2.00 2.25 5.55 5.51 Other borrowed funds0.66 0.76 7.36 8.23 Total deposits and borrowed funds100.00 %100.00 %2.27 %2.55 %

The estimated amount of uninsured and uncollateralized deposits at September 30, 2025 was $6,878,118. Collateralized public funds over FDIC insurance limits were $3,146,202 at September 30, 2025.

Our strategy in choosing funds is focused on minimizing cost in the context of our balance sheet composition, interest rate risk position and liquidity forecast. Accordingly, management targets growth of core deposits, focusing on noninterest-bearing deposits. While we do not control the types of deposit instruments our clients choose, we do influence those choices with the rates and the deposit specials we offer. We constantly monitor our funds position and evaluate the effect that various funding sources have on our financial position.

Cash and cash equivalents were $1,083,785 at September 30, 2025, as compared to $1,275,620 at September 30, 2024. The decrease is largely driven by the funding of loan growth and investing capital into the securities portfolio. We acquired $261,484 in cash and cash equivalents in connection with the merger with The First.

Cash used in investing activities for the nine months ended September 30, 2025 was $710,954, as compared to cash provided by investing activities of $48,583 for the nine months ended September 30, 2024. Proceeds from the sale, maturity or call of securities within our investment portfolio were $968,832 for the nine months ended September 30, 2025, as compared to $319,665 for the same period in 2024. Shortly after merger with The First, certain securities from the acquired portfolio were sold at carrying value, resulting in proceeds of $686,485. A portion of the securities portfolio was also sold during the first quarter of 2024, resulting in proceeds of $177,185 of which a portion were used to purchase higher yielding securities, while 

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the remainder was used to fund loan growth. Purchases of investment securities were $1,058,969 during the first nine months of 2025 and $60,656 for the same period in 2024.  The Company received $261,483 in net