Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 194

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 194
---
 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 $1,091,339 at March 31, 2025, as compared to $844,400 at March 31, 2024. The increase is largely driven by growth in deposits and proceeds from the common stock offering in July 2024 offset to some degree by the payoff of certain short-term borrowings.

Cash used in investing activities for the three months ended March 31, 2025 was $292,055, as compared to cash provided by investing activities of $29,968 for the three months ended March 31, 2024. Proceeds from the sale, maturity or call of securities within our investment portfolio were $56,789 for the three months ended March 31, 2025, as compared to $223,492 for the same period in 2024. No securities were sold during the first quarter of 2025. A portion of the securities portfolio was 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 the remainder was used to fund loan growth. Purchases of investment securities were $175,815 during the first three months of 2025 and $46,975 for the same period in 2024.  

61

Cash provided by financing activities for the three months ended March 31, 2025 was $185,210, as compared to cash used in financing activities of $51,976 for the same period in 2024. Deposits increased $199,483 and $160,378 for the three months ended March 31, 2025 and 2024, respectively. 

Restrictions on Bank Dividends, Loans and Advances

The Company’s liquidity and capital resources, as well as its ability to pay dividends to its shareholders, are substantially dependent on the ability of Renasant Bank to transfer funds to the Company in the form of dividends, loans and advances. Under Mississippi law, a Mississippi bank may not pay dividends unless its earned surplus is in excess of three times capital stock. A Mississippi bank with earned surplus in excess of three times capital stock may pay a dividend, subject to the approval of the Mississippi Department of Banking and Consumer Finance (the “DBCF”). In addition, the FDIC also has the authority