Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 184

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 184
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 amount which, in the judgment of management, is necessary to maintain the allowance for credit losses on loans at a level that is believed to be adequate to meet the inherent risks of losses in our loan portfolio. The Company recorded a provision for credit losses on loans of $2,050 in the first quarter of 2025, as compared to $2,638 in the first quarter of 2024. The Company’s allowance for credit losses model considers economic projections, primarily the national unemployment rate and GDP, over a reasonable and supportable period of two years. Loan growth as well as changes in credit metrics that influenced our expectations of future credit losses, considered in the context of the existing balance of the allowance for credit losses, resulted in the Company’s model indicating that the aforementioned provision for credit losses on loans was appropriate during the first quarter of 2025.

The table below reflects the activity in the allowance for credit losses on loans for the periods presented:

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Three Months Ended March 31, 20252024Balance at beginning of period$201,756 $198,578 Charge-offsCommercial, financial, agricultural94 349 Real estate – 1-4 family mortgage309 82 Real estate – commercial mortgage461 — Installment loans to individuals265 479 Total charge-offs1,129 910 RecoveriesCommercial, financial, agricultural958 346 Lease financing9 8 Real estate – 1-4 family mortgage33 48 Real estate – commercial mortgage6 6 Installment loans to individuals248 338 Total recoveries1,254 746 Net (recoveries) charge-offs(125)164 Provision for credit losses on loans2,050 2,638 Balance at end of period$203,931 $201,052 Net charge-offs (annualized) to average loans— %0.01 %Net charge-offs to allowance for credit losses on loans(0.06)%0.08 %Allowance for credit losses on loans to:Total loans1.56 %1.61 %Nonperforming loans206.55 %270.87 %Nonaccrual loans206.75 %272.52 %

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The table below reflects annualized net charge-offs (recoveries) to daily average loans outstanding, by loan category, during the periods presented:

Three Months EndedMarch 31, 2025March 31, 2024Net Charge-offs (Re