Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 67

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 67
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 to market-related risks associated with these mortgage loans. The change in fair value of both mortgage loans held for sale and the related derivative instruments are recorded in “Mortgage banking income” in the Consolidated Statements of Income.The Company’s valuation of mortgage loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these loans, valuation adjustments attributable to instrument-specific credit risk is nominal. Interest income on mortgage loans held for sale measured at fair value is accrued as it is earned based on contractual rates and is reflected in loan interest income on the Consolidated Statements of Income.The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of September 30, 2025 and December 31, 2024: 

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

AggregateFair ValueAggregateUnpaidPrincipalBalanceDifferenceSeptember 30, 2025Mortgage loans held for sale measured at fair value$286,779 $280,323 $6,456 December 31, 2024Mortgage loans held for sale measured at fair value$246,171 $244,218 $1,953 Fair Value of Financial InstrumentsThe carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:   Fair ValueAs of September 30, 2025CarryingValueLevel 1Level 2Level 3TotalFinancial assetsCash and cash equivalents$1,083,785 $1,083,785 $— $— $1,083,785 Securities held to maturity1,051,884 — 976,690 — 976,690 Securities available for sale2,512,650 — 2,512,650 — 2,512,650 Loans held for sale286,779 — 286,779 — 286,779 Loans, net18,727,930 — — 18,619,999 18,619,999 Mortgage servicing rights65,466 — — 81,796 81,796 Derivative instruments49,432 — 49,432 — 49,