Company: RNST
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000715072-25-000054
Chunk: 125

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 125
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 the same period. The increase in nonperforming loans is primarily due to current macroeconomic conditions with the impact spread among commercial and consumer loans.

The following table presents nonperforming loans by loan category at December 31 for each of the years presented.20242023Commercial, financial, agricultural$2,000 $6,282 Lease financing4,083 — Real estate – construction:Residential1,223 — Commercial16 — Total real estate – construction1,239 — Real estate – 1-4 family mortgage:Primary55,037 44,174 Home equity3,404 2,849 Rental/investment388 2,238 Land development1,760 19 Total real estate – 1-4 family mortgage60,589 49,280 Real estate – commercial mortgage:Owner-occupied12,679 3,373 Non-owner occupied29,280 9,774 Land development3,291 300 Total real estate – commercial mortgage45,250 13,447 Installment loans to individuals114 361 Total nonperforming loans$113,275 $69,370 

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Management has evaluated the aforementioned loans and other loans classified as nonperforming and believes that all nonperforming loans have been adequately reserved for in the allowance for credit losses on loans at December 31, 2024. Management also continually monitors past due loans for potential credit quality deterioration. Total loans 30-89 days past due on which interest was still accruing were $39,842 at December 31, 2024 as compared to $54,031 at December 31, 2023. 

Certain modifications of loans made to borrowers experiencing financial difficulty in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay (including extension of the amortization period), or a term extension, excluding covenant waivers and modification of contingent acceleration clauses, are required to be disclosed in accordance with ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). Unused commitments relating to such modified loans totaled $1,135 and $3,115 at December 31, 2024 and 2023, respectively. Upon the Company’s determination that a modification has been subsequently deemed uncollectible, the loan, or portion of the loan,