Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 11

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 11
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 securities(32)Held to maturity securities, net of allowance for credit losses$1,126,112 No securities were sold during the first quarter of 2025. With respect to the securities sold during the first three months ended March 31, 2024, which are presented in the table below, the Company intended to sell these securities as of December 31, 2023, and completed the sale in January 2024. Therefore, the Company impaired the securities and recognized the loss in net income as of December 31, 2023.

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

Carrying Value Immediately Prior to SaleNet ProceedsImpairment (Recognized in December 2023)Three months ended March 31, 2024Obligations of states and political subdivisions$12,301 $11,360 $(941)Residential mortgage backed securities:Government agency mortgage backed securities107,389 95,922 (11,467)Government agency collateralized mortgage obligations48,300 43,990 (4,310)Commercial mortgage backed securities:Government agency collateralized mortgage obligations28,547 25,913 (2,634)$196,537 $177,185 $(19,352)At March 31, 2025 and December 31, 2024, securities with a carrying value of $861,875 and $818,344, respectively, were pledged to secure government, public and trust deposits. Securities with a carrying value of $26,129 and $25,526 were pledged as collateral for short-term borrowings and derivative instruments at March 31, 2025 and December 31, 2024, respectively.The amortized cost and fair value of securities at March 31, 2025 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.  Held to MaturityAvailable for Sale AmortizedCostFairValueAmortizedCostFairValueDue within one year$1,480 $1,479 $1,997 $2,038 Due after one year through five years5,966 5,631 33,904 33,958 Due after five years through ten years137,612 119,449 31,862 29,656 Due