Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 115

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 115
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ized cost basis, which may be maturity. Furthermore, more than 90% of available for sale securities have the explicit or implicit backing of the federal government. Performance of these securities has been in line with broader market price performance, indicating that increases in market-based, risk-free rates, and not credit-related factors, are driving losses. When determining the fair value of 

11

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

the contractual cash flows for municipal and corporate securities, the Company considers historical experience with credit sensitive securities, current market conditions, the financial condition of the underlying issuer, current credit ratings, ratings changes and outlook, explicit and implicit guarantees, or insurance programs. Based upon its review of these factors as of March 31, 2025, the Company determined that all such losses resulted from factors not deemed credit-related. As a result, no credit-related impairment was recognized in current earnings, and all unrealized losses for available for sale securities were recorded in other comprehensive income (loss). See Note 11, “Other Comprehensive Income” for more information on the Company’s unrealized losses on securities.The allowance for credit losses on held to maturity securities was $32 at each of March 31, 2025 and December 31, 2024. The Company monitors the credit quality of debt securities held to maturity using bond investment grades assigned by nationally recognized statistical ratings agencies. Updated investment grades are obtained as they become available from agencies. As of March 31, 2025, all of the debt securities held to maturity were rated A or higher by the ratings agencies.

Note 3 – Loans

(In Thousands, Except Number of Loans)For purposes of this Note 3, all references to “loans” mean loans excluding loans held for sale.The following is a summary of loans and leases as of the dates presented: March 31,2025December 31, 2024Commercial, financial, agricultural$1,888,580 $1,885,817 Lease financing89,533 95,071 Real estate – construction:Residential273,583 256,655 Commercial817,279 836,998 Total real estate – construction1,090,862 1,093,653 Real estate – 1-4 family mortgage:Primary2,471,818 2,428,076 Home equity551,305 544,158 Rental/investment434,069 402,938