Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 215

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 215
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,286 79,386 2.89 10,581,414 82,613 3.13 Borrowed funds556,734 6,747 4.88 562,398 7,276 5.18 Total interest-bearing liabilities11,680,020 86,133 2.99 11,143,812 89,889 3.23 Noninterest-bearing deposits3,408,830 3,518,612 Other liabilities208,105 226,308 Shareholders’ equity2,692,681 2,314,281 Total liabilities and shareholders’ equity$17,989,636 $17,203,013 Net interest income/net interest margin$137,432 3.45 %$125,850 3.30 %

(1)U.S. Government and some U.S. Government Agency securities are tax-exempt in the states in which the Company operates.

(2)Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.

The average balances of nonaccruing assets are included in the tables above. Interest income and weighted average yields on tax-exempt loans and securities have been computed on a fully tax equivalent basis assuming a federal tax rate of 21%.

Net interest margin and net interest income are influenced by internal and external factors. Internal factors include balance sheet changes in volume and mix and pricing decisions. External factors include changes in market interest rates, competition and other factors affecting the banking industry in general, and the shape of the interest rate yield curve. Strong loan growth and the Federal Reserve lowering the federal funds rate by 100 basis points in the second half of 2024 were the largest contributing factors to the increase in net interest income for the three months ended March 31, 2025, as compared to the same period in 2024. The lower interest rates generated a positive impact to both the cost and mix of our funding sources. The Company has continued its efforts to mitigate increases in the cost of funding due to competition, increases in the federal funds rate or otherwise through maintaining noninterest-bearing deposits, and staying disciplined yet competitive in pricing on interest-bearing deposits in the current rate environment.

The following tables set forth a summary of the changes in interest earned, on a tax equivalent basis, and interest paid resulting from changes in volume and rates for the Company for the three months ended March 31, 2025, as compared to the same period 

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