Company: RNST
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000715072-25-000211
Chunk: 49

Company: RENASANT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 49
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7 – Goodwill and Other Intangible Assets

(In Thousands)The carrying amounts of goodwill by operating segments for the six months ended June 30, 2025 are set forth in the table below. Community BanksTotalBalance at January 1, 2025$988,898 $988,898 Additions to goodwill from The First merger430,884 430,884 Balance at June 30, 2025$1,419,782 $1,419,782 The following table provides a summary of finite-lived intangible assets as of the dates presented: Gross CarryingAmountAccumulatedAmortizationNet CarryingAmountJune 30, 2025Core deposit intangibles$242,102 $(81,321)$160,781 Customer relationship intangible7,670 (4,700)2,970 Total finite-lived intangible assets$249,772 $(86,021)$163,751 December 31, 2024Core deposit intangibles$82,492 $(71,881)$10,611 Customer relationship intangible7,670 (4,176)3,494 Total finite-lived intangible assets$90,162 $(76,057)$14,105 Amortization expense for finite-lived intangible assets is presented in the table below.Three Months EndedSix Months EndedJune 30,June 30,2025202420252024Amortization expense for:  Core deposit intangibles$8,622 $888 $9,440 $1,802   Customer relationship intangible262 298 524 596 Total intangible amortization$8,884 $1,186 $9,964 $2,398 

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

Note 8 – Mortgage Servicing Rights

(In Thousands)The Company retains the right to service certain mortgage loans that it sells to secondary market investors. These mortgage servicing rights (“MSRs”) are recognized as a separate asset on the date the corresponding mortgage loan is sold. MSRs are amortized in proportion to and over the period of estimated net servicing income. These servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions, including expected cash flows, prepayment speeds, market discount rates, servicing costs,