Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 99

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 99
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6,974 and $4,256 for the three months ended September 30, 2025 and 2024, respectively, and was $17,150 and $12,371 for the nine months ended September 30, 2025 and 2024, respectively. Other noninterest income includes income from our SBA banking division, our capital markets division and other miscellaneous income and can fluctuate based on production in our SBA banking and capital markets divisions and recognition of other seasonal income items.

Noninterest Expense

Noninterest Expense to Average AssetsThree Months Ended September 30,Nine Months Ended September 30,2025 20242025 20242.76%2.74%2.73% 2.66%

Noninterest expense was $183,830 and $121,983 for the third quarter of 2025 and 2024, respectively, and was $480,910 and $346,871 for the nine months ended September 30, 2025 and 2024, respectively. The increase is primarily due to $38,764 in expenses relating to the merger with The First and additional expenses associated with the operations of The First. 

Salaries and employee benefits increased $27,675 to $98,982 for the third quarter of 2025 as compared to $71,307 for the same period in 2024. Salaries and employee benefits increased $56,973 to $270,481 for the nine months ended September 30, 2025 as compared to $213,508 for the same period in 2024. The increase in salaries and employee benefits is primarily attributable to the addition of The First employees, and to a lesser extent to annual merit increases implemented in April 2025.

Data processing costs were $5,541 in the third quarter of 2025 as compared to $4,133 for the same period in 2024 and were $15,068 for the nine months ended September 30, 2025 as compared to $11,885 for the same period in 2024. The increase in data processing costs is attributable to the acquisition of The First and the cost associated with operating two core systems.  Core systems were converted during the third quarter of 2025. The Company continues to examine new and existing contracts to negotiate favorable terms to offset the increased variable cost components of our data processing costs, such as new accounts and increased transaction volume.

Net occupancy and equipment expense for the third quarter of 2025 was $18,415