Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 178

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 178
---
 to the counterparty upon early termination of the swap transaction. The Company’s sold risk participation agreements have maturities between 2025 and 2030. The maximum potential amount of future payments under these contracts as of June 30, 2025 was approximately $1,252. This scenario occurs if variable interest rates were at zero percent and all counterparties defaulted with zero recovery. The fair value of risk participation agreements at June 30, 2025 and 2024 was immaterial.Offsetting

37

Table of ContentsRenasant Corporation and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when the “right of offset” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements; however, the Company has not elected to offset such financial instruments in the Consolidated Balance Sheets. The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:Offsetting Derivative AssetsOffsetting Derivative LiabilitiesJune 30,2025December 31, 2024June 30,2025December 31, 2024Gross amounts recognized$23,925 $34,505 $22,191 $28,550 Gross amounts offset in the Consolidated Balance Sheets— — — — Net amounts presented in the Consolidated Balance Sheets23,925 34,505 22,191 28,550 Gross amounts not offset in the Consolidated Balance SheetsFinancial instruments18,794 27,939 18,794 27,939 Financial collateral pledged— — 1,321 611 Net amounts$5,131 $6,566 $2,076 $— 

Note 11 – Income Taxes

For the six months ended June 30, 2025 and 2024, the effective tax rate was