Renasant Corporation Presents Updated Investor Materials Following Merger with The First Bancshares

Renasant Corporation has released new investor presentation materials reflecting its strategic direction following the recently completed merger with The First Bancshares, Inc. The materials highlight the company's focus on integration efforts, operational efficiency, and long-term growth across its expanded regional footprint.

Key topics in the presentation include anticipated cost savings, loan and deposit portfolio trends, and updated financial targets. Management expressed confidence in achieving merger-related synergies, while also acknowledging ongoing macroeconomic uncertainties and regulatory considerations.

The presentation includes forward-looking statements, with management cautioning that actual results may differ due to a variety of factors such as integration risks, interest rate volatility, credit quality shifts, and changes in regulatory policy or economic conditions.

Renasant plans to share these materials with investors during upcoming conferences. The information is intended for informational purposes and does not represent an offer or solicitation of securities.

Renasant Corporation held its 2025 Annual Meeting of Shareholders on April 22, 2025.

Shareholders elected all 14 director nominees, approved an amendment to increase the authorized shares from 150 million to 250 million, and passed another amendment eliminating directors' personal liability under Mississippi law, subject to exceptions. Additionally, shareholders approved, on an advisory basis, the 2024 executive compensation and ratified HORNE LLP as the company’s independent auditor for 2025.

Renasant Corporation and The First Bancshares, Inc. have received regulatory approval for their planned merger. The merger, expected to close on April 1, 2025, will integrate The First Bank into Renasant Bank, creating a financial institution with approximately $26 billion in assets and over 250 locations across the Southeast.

Renasant CEO Mitch Waycaster highlighted the partnership’s alignment in values and commitment to serving communities. The First CEO Hoppy Cole expressed confidence that the merger will create new opportunities for both banks.

Renasant, a 120-year-old institution with $18 billion in assets, provides banking, mortgage, wealth management, and asset-based lending services. The First Bancshares, founded in 1996, operates in Mississippi, Louisiana, Alabama, Florida, and Georgia.

The companies previously secured shareholder approval in October 2024, and the merger remains subject to customary closing conditions.

Renasant Corporation reported fourth-quarter 2024 earnings with net income of $44.7 million, down from $72.5 million in the previous quarter but higher than the $28.1 million recorded in Q4 2023. Diluted earnings per share were $0.70, with an adjusted diluted EPS of $0.73. The company’s net interest income grew to $135.5 million, an increase of $1.9 million from Q3, while the net interest margin remained steady at 3.36%. Deposit costs declined to 2.35%, a 16-basis-point drop from the prior quarter, reflecting improved funding efficiency. Noninterest income fell by $55.1 million, mainly due to a one-time $53.3 million pre-tax gain from the sale of an insurance agency in Q3. Mortgage banking income declined by $1.6 million, while noninterest expenses decreased by $7.2 million, with merger and conversion expenses dropping to $2.1 million from $11.3 million in Q3.

On the balance sheet, loans grew by $257.4 million, representing an annualized net loan growth of 8.1%. Deposits increased by $62.9 million, while brokered deposits declined as outstanding amounts matured or were called during the quarter. The company’s credit quality remained strong, with nonperforming loans decreasing to 0.88% of total loans, down from 0.94% in Q3, and net loan charge-offs of $1.7 million, or 0.05% of average loans. Book value per share rose to $42.13, and tangible book value per share increased to $26.36. Renasant continues to maintain a $100 million stock repurchase program through October 2025, though no shares were repurchased in Q4. The company remains focused on organic growth, disciplined pricing, and credit performance as it integrates its merger with The First Bancshares, Inc., announced in July 2024.