Renasant Corporation Announces Earnings for the Third Quarter of 2025

TUPELO, Miss., Oct. 28, 2025 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the third quarter of 2025.

(Dollars in thousands, except earnings per share)Three Months Ended Nine Months Ended Sep 30, 2025Jun 30, 2025Sep 30, 2024 Sep 30, 2025Sep 30, 2024Net income and earnings per share: Net income$59,788 $1,018 $72,455 $102,324 $150,710 After-tax gain on sale on insurance agency — — 38,951 — 38,951 Merger and conversion related expenses (net of tax) (13,129) (15,935) — (29,561) — Day 1 acquisition provision (net of tax) — (50,026) — (50,026) — Basic EPS 0.63 0.01 1.18 1.21 2.60 Diluted EPS 0.63 0.01 1.18 1.20 2.59 Adjusted diluted EPS (Non-GAAP)(1) 0.77 0.69 0.70 2.13 2.03 Impact to diluted EPS from after-tax gain on sale of insurance agency — — 0.63 — 0.67 Impact to diluted EPS from merger and conversion related expenses (net of tax) (0.14) (0.17) — (0.35) — Impact to diluted EPS from Day 1 acquisition provision (net of tax) — (0.53) — (0.59) —

“Renasant’s financial performance in the third quarter was strong with good loan growth and profit improvement,” remarked Kevin D. Chapman, President and Chief Executive Officer of the Company. “The integration with The First continues to go well and we believe positions us to meet the financial goals of the merger.”

Quarterly Highlights

Earnings

Net income for the third quarter of 2025 was $59.8 million, which includes merger and conversion related expenses of $17.5 million; diluted EPS and adjusted diluted EPS (non-GAAP)(1) were $0.63 and $0.77, respectivelyNet interest income (fully tax equivalent) for the third quarter of 2025 was $228.1 million, up $5.4 million linked quarterFor the third quarter of 2025, net interest margin was 3.85%. Adjusted net interest margin (non-GAAP)(1) was 3.62%, up 4 basis points linked quarterCost of total deposits was 2.14% for the third quarter of 2025, up 2 basis points linked quarterNoninterest income, excluding the $1.5 million gain on sale of mortgage servicing rights (“MSRs”) in the second quarter of 2025, decreased $0.8 million linked quarterExcluding the gain on sale of MSRs, mortgage banking income decreased $0.8 million linked quarter. The mortgage division generated $590.2 million in interest rate lock volume in the third quarter of 2025, down $89.4 million linked quarter. Gain on sale margin was 1.32% for the third quarter of 2025, down 55 basis points linked quarterExcluding merger and conversion related expenses, noninterest expense increased $3.6 million linked quarter

Balance Sheet

Loans increased $462.1 million linked quarter, representing 9.9% annualized net loan growthSecurities increased $16.2 million linked quarter. The Company purchased $113.0 million in securities during the third quarter, which was offset by cash flows related to principal payments, calls and maturities of $115.2 million and a positive fair market value adjustment in the Company’s available-for-sale portfolio of $18.4 millionDeposits at September 30, 2025 decreased $158.1 million linked quarter. Public fund seasonality was the primary driver with a decrease of $169.6 million linked quarter. Noninterest bearing deposits decreased $117.7 million linked quarter and represented 24.5% of total deposits at September 30, 2025

Capital and Stock Repurchase Program

Book value per share and tangible book value per share (non-GAAP)(1) increased 1.2% and 2.9%, respectively, linked quarterEffective October 28, 2025, the Company’s Board of Directors approved a $150.0 million stock repurchase program under which the Company is authorized to repurchase outstanding shares of its common stock either in open market purchases or privately negotiated transactions. This plan, which will remain in effect until the earlier of October 2026 or the repurchase of the entire amount authorized under the plan, replaces the Company’s $100.0 million stock repurchase program that expired October 2025. There was no buyback activity during the third quarter of 2025The Company redeemed $60.0 million in subordinated notes acquired from The First Bancshares, Inc. (“The First”) on October 1, 2025

Credit Quality

The Company recorded a provision for credit losses of $10.5 million for the third quarter of 2025. Excluding the provision recorded in the second quarter in connection with the acquisition of The First of $66.6 million, provision for credit losses decreased $4.3 million linked quarterThe ratio of the allowance for credit losses on loans to total loans was 1.56% at September 30, 2025, down one basis point linked quarterThe coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 173.47% at September 30, 2025, compared to 204.97% at June 30, 2025Net loan charge-offs for the third quarter of 2025 were $4.3 millionNonperforming loans to total loans increased to 0.90% at September 30, 2025 compared to 0.76% at June 30, 2025, and criticized loans (which include classified and Special Mention loans) to total loans increased to 3.22% at September 30, 2025, compared to 2.66% at June 30, 2025

(1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures.

Income Statement

(Dollars in thousands, except per share data)Three Months Ended Nine Months Ended Sep 30,
2025Jun 30,
2025Mar 31,
2025Dec 31,
2024Sep 30,
2024 Sep 30,
2025Sep 30,
2024Interest income Loans held for investment$308,110$301,794$196,566$199,240 $202,655 $806,470$593,442 Loans held for sale 4,675 4,639 3,008 3,564 4,212 12,322 10,050 Securities 30,217 28,408 12,117 10,510 10,304 70,742 31,414 Other 8,096 9,057 8,639 12,030 11,872 25,792 27,527 Total interest income 351,098 343,898 220,330 225,344 229,043 915,326 662,433 Interest expense Deposits 115,573 111,921 79,386 85,571 90,787 306,880 261,021 Borrowings 12,005 13,118 6,747 6,891 7,258 31,870 22,098 Total interest expense 127,578 125,039 86,133 92,462 98,045 338,750 283,119 Net interest income 223,520 218,859 134,197 132,882 130,998 576,576 379,314 Provision for credit losses Provision for loan losses 9,650 75,400 2,050 3,100 1,210 87,100 8,148 Provision for (recovery of) unfunded commitments 800 5,922 2,700 (500) (275) 9,422 (1,475)Total provision for credit losses 10,450 81,322 4,750 2,600 935 96,522 6,673 Net interest income after provision for credit losses 213,070 137,537 129,447 130,282 130,063 480,054 372,641 Noninterest income 46,026 48,334 36,395 34,218 89,299 130,755 169,442 Noninterest expense 183,830 183,204 113,876 114,747 121,983 480,910 346,871 Income before income taxes 75,266 2,667 51,966 49,753 97,379 129,899 195,212 Income taxes 15,478 1,649 10,448 5,006 24,924 27,575 44,502 Net income$59,788$1,018$41,518$44,747 $72,455 $102,324$150,710 Adjusted net income (non-GAAP)(1)$72,917$65,877$42,111$46,458 $42,960 $180,809$118,588 Adjusted pre-provision net revenue (“PPNR”) (non-GAAP)(1)$103,210$103,001$57,507$54,177 $56,238 $263,718$156,281 Basic earnings per share$0.63$0.01$0.65$0.70 $1.18 $1.21$2.60 Diluted earnings per share 0.63 0.01 0.65 0.70 1.18 1.20 2.59 Adjusted diluted earnings per share (non-GAAP)(1) 0.77 0.69 0.66 0.73 0.70 2.13 2.03 Average basic shares outstanding 94,623,551 94,580,927 63,666,419 63,565,437 61,217,094 84,403,694 57,934,806 Average diluted shares outstanding 95,284,603 95,136,160 64,028,025 64,056,303 61,632,448 84,934,390 58,297,554 Cash dividends per common share$0.22$0.22$0.22$0.22 $0.22 $0.66$0.66

(1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures.

Performance Ratios

Three Months Ended Nine Months Ended Sep 30,
2025Jun 30,
2025Mar 31,
2025Dec 31,
2024Sep 30,
2024 Sep 30,
2025Sep 30,
2024Return on average assets0.90%0.02%0.94%0.99%1.63% 0.58%1.16%Adjusted return on average assets (non-GAAP)(1)1.09 1.01 0.95 1.03 0.97 1.03 0.91 Return on average tangible assets (non-GAAP)(1)1.06 0.13 1.01 1.07 1.75 0.70 1.25 Adjusted return on average tangible assets (non-GAAP)(1)1.27 1.18 1.02 1.11 1.05 1.17 0.99 Return on average equity6.25 0.11 6.25 6.70 11.29 4.01 8.38 Adjusted return on average equity (non-GAAP)(1)7.62 7.06 6.34 6.96 6.69 7.08 6.59 Return on average tangible equity (non-GAAP)(1)11.87 1.43 10.16 10.97 18.83 7.69 14.69 Adjusted return on average tangible equity (non-GAAP)(1)14.22 13.50 10.30 11.38 11.26 12.88 11.61 Efficiency ratio (fully taxable equivalent)67.05 67.59 65.51 67.61 54.73 66.88 62.33 Adjusted efficiency ratio (non-GAAP)(1)57.51 57.07 64.43 65.82 64.62 59.02 66.46 Dividend payout ratio34.92 2200.00 33.85 31.43 18.64 54.55 25.38

Capital and Balance Sheet Ratios

As of Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Shares outstanding 95,020,881 95,019,311 63,739,467 63,565,690 63,564,028 Market value per share$36.89 $35.93 $33.93 $35.75 $32.50 Book value per share 40.26 39.77 42.79 42.13 41.82 Tangible book value per share (non-GAAP)(1) 23.77 23.10 27.07 26.36 26.02 Shareholders’ equity to assets 14.31% 14.19% 14.93% 14.85% 14.80%Tangible common equity ratio (non-GAAP)(1) 8.98 8.77 9.99 9.84 9.76 Leverage ratio(2) 9.46 9.36 11.39 11.34 11.32 Common equity tier 1 capital ratio(2) 11.04 11.08 12.59 12.73 12.88 Tier 1 risk-based capital ratio(2) 11.04 11.08 13.35 13.50 13.67 Total risk-based capital ratio(2) 14.88 14.97 16.89 17.08 17.32

(1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures.

(2) Preliminary

Noninterest Income and Noninterest Expense

(Dollars in thousands)Three Months Ended Nine Months Ended Sep 30,
2025Jun 30,
2025Mar 31,
2025Dec 31,
2024Sep 30,
2024 Sep 30,
2025Sep 30,
2024Noninterest income Service charges on deposit accounts$13,416$13,618$10,364$10,549$10,438 $37,398$31,230Fees and commissions 4,167 6,650 3,787 4,181 4,116 14,604 12,009Insurance commissions — — — — — — 5,474Wealth management revenue 8,217 7,345 7,067 6,371 5,835 22,629 17,188Mortgage banking income 9,017 11,263 8,147 6,861 8,447 28,427 29,515Gain on sale of insurance agency — — — — 53,349 — 53,349Gain on extinguishment of debt — — — — — — 56BOLI income 4,235 3,383 2,929 3,317 2,858 10,547 8,250Other 6,974 6,075 4,101 2,939 4,256 17,150 12,371Total noninterest income$46,026$48,334$36,395$34,218$89,299 $130,755$169,442Noninterest expense Salaries and employee benefits$98,982$99,542$71,957$70,260$71,307 $270,481$213,508Data processing 5,541 5,438 4,089 4,145 4,133 15,068 11,885Net occupancy and equipment 18,415 17,359 11,754 11,312 11,415 47,528 34,648Other real estate owned 328 157 685 590 56 1,170 268Professional fees 3,435 4,223 2,884 2,686 3,189 10,542 9,732Advertising and public relations 5,254 4,490 4,297 3,840 3,677 14,041 12,370Intangible amortization 8,674 8,884 1,080 1,133 1,160 18,638 3,558Communications 3,955 3,184 2,033 2,067 2,176 9,172 6,312Merger and conversion related expenses 17,494 20,479 791 2,076 11,273 38,764 11,273Other 21,752 19,448 14,306 16,638 13,597 55,506 43,317Total noninterest expense$183,830$183,204$113,876$114,747$121,983 $480,910$346,871

Mortgage Banking Income

(Dollars in thousands)Three Months Ended Nine Months Ended Sep 30,
2025Jun 30,
2025Mar 31,
2025Dec 31,
2024Sep 30,
2024 Sep 30,
2025Sep 30,
2024Gain on sales of loans, net$5,270$5,316$4,500$2,379$4,499 $15,086$14,233Fees, net 3,050 3,740 2,317 2,850 2,646 9,107 7,366Mortgage servicing income, net 697 2,207 1,330 1,632 1,302 4,234 7,916Total mortgage banking income$9,017$11,263$8,147$6,861$8,447 $28,427$29,515

Balance Sheet

(Dollars in thousands)As of Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Assets Cash and cash equivalents$1,083,785 $1,378,612 $1,091,339 $1,092,032 $1,275,620 Securities held to maturity, at amortized cost 1,051,884 1,076,817 1,101,901 1,126,112 1,150,531 Securities available for sale, at fair value 2,512,650 2,471,487 1,002,056 831,013 764,844 Loans held for sale, at fair value 286,779 356,791 226,003 246,171 291,735 Loans held for investment 19,025,521 18,563,447 13,055,593 12,885,020 12,627,648 Allowance for credit losses on loans (297,591) (290,770) (203,931) (201,756) (200,378)Loans, net 18,727,930 18,272,677 12,851,662 12,683,264 12,427,270 Premises and equipment, net 471,213 465,100 279,011 279,796 280,550 Other real estate owned 10,578 11,750 8,654 8,673 9,136 Goodwill 1,411,711 1,419,782 988,898 988,898 988,898 Other intangibles 155,077 163,751 13,025 14,105 15,238 Bank-owned life insurance 488,920 486,613 337,502 391,810 389,138 Mortgage servicing rights 65,466 64,539 72,902 72,991 71,990 Other assets 460,172 457,056 298,428 300,003 293,890 Total assets$26,726,165 $26,624,975 $18,271,381 $18,034,868 $17,958,840 Liabilities and Shareholders’ Equity Liabilities Deposits: Noninterest-bearing$5,238,431 $5,356,153 $3,541,375 $3,403,981 $3,529,801 Interest-bearing 16,186,124 16,226,484 11,230,720 11,168,631 10,979,950 Total deposits 21,424,555 21,582,637 14,772,095 14,572,612 14,509,751 Short-term borrowings 606,063 405,349 108,015 108,018 108,732 Long-term debt 558,878 556,976 433,309 430,614 433,177 Other liabilities 310,891 301,159 230,857 245,306 249,102 Total liabilities 22,900,387 22,846,121 15,544,276 15,356,550 15,300,762 Shareholders’ equity: Common stock 488,612 488,612 332,421 332,421 332,421 Treasury stock (90,297) (90,248) (91,646) (97,196) (97,251)Additional paid-in capital 2,389,033 2,393,566 1,486,849 1,491,847 1,488,678 Retained earnings 1,139,600 1,100,965 1,121,102 1,093,854 1,063,324 Accumulated other comprehensive loss (101,170) (114,041) (121,621) (142,608) (129,094)Total shareholders’ equity 3,825,778 3,778,854 2,727,105 2,678,318 2,658,078 Total liabilities and shareholders’ equity$26,726,165 $26,624,975 $18,271,381 $18,034,868 $17,958,840

Net Interest Income and Net Interest Margin

(Dollars in thousands)Three Months Ended September 30, 2025June 30, 2025September 30, 2024 Average
BalanceInterest
Income/
ExpenseYield/
RateAverage
BalanceInterest
Income/
ExpenseYield/
RateAverage
BalanceInterest
Income/
ExpenseYield/
RateInterest-earning assets: Loans held for investment$18,750,715$311,9036.60%$18,448,000$304,8346.63%$12,584,104$204,9356.47%Loans held for sale 290,756 4,6756.43% 287,855 4,6396.45% 272,110 4,2126.19%Taxable securities 3,243,693 27,1073.34% 3,106,565 24,9173.21% 1,794,421 9,2122.05%Tax-exempt securities 428,252 3,9283.67% 462,732 4,3093.72% 262,621 1,3902.12%Total securities 3,671,945 31,0353.38% 3,569,297 29,2263.28% 2,057,042 10,6022.06%Interest-bearing balances with banks 814,103 8,0963.95% 901,803 9,0574.03% 894,313 11,8725.28%Total interest-earning assets 23,527,519 355,7096.01% 23,206,955 347,7566.01% 15,807,569 231,6215.82%Cash and due from banks 306,847 357,338 189,425 Intangible assets 1,578,846 1,589,490 1,004,701 Other assets 1,043,384 1,029,082 679,901 Total assets$26,456,596 $26,182,865 $17,681,596 Interest-bearing liabilities: Interest-bearing demand(1)$11,521,433$82,0802.83%$11,191,443$76,5422.74%$7,333,508$60,3263.26%Savings deposits 1,299,396 9430.29% 1,322,007 1,0320.31% 815,545 7290.36%Brokered deposits — ——% — ——% 150,991 1,9985.25%Time deposits 3,398,402 32,5503.80% 3,404,482 34,3474.05% 2,546,860 27,7344.33%Total interest-bearing deposits 16,219,231 115,5732.83% 15,917,932 111,9212.82% 10,846,904 90,7873.32%Borrowed funds 961,980 12,0054.97% 1,036,045 13,1185.07% 562,146 7,2585.14%Total interest-bearing liabilities 17,181,211 127,5782.95% 16,953,977 125,0392.96% 11,409,050 98,0453.41%Noninterest-bearing deposits 5,226,588 5,233,976 3,509,266 Other liabilities 253,801 249,861 209,763 Shareholders’ equity 3,794,996 3,745,051 2,553,517 Total liabilities and shareholders’ equity$26,456,596 $26,182,865 $17,681,596 Net interest income/ net interest margin $228,1313.85% $222,7173.85% $133,5763.36%Cost of funding 2.26% 2.26% 2.61%Cost of total deposits 2.14% 2.12% 2.51%

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

Net Interest Income and Net Interest Margin, continued

(Dollars in thousands)Nine Months Ended September 30, 2025September 30, 2024 Average
BalanceInterest
Income/
ExpenseYield/
RateAverage
BalanceInterest
Income/
ExpenseYield/
RateInterest-earning assets: Loans held for investment$16,743,048$816,2416.52%$12,522,802$600,2456.39%Loans held for sale 260,172 12,3226.32% 215,978 10,0506.20%Taxable securities 2,749,580 62,9953.05% 1,839,249 27,9752.03%Tax-exempt securities 384,212 9,6803.36% 265,601 4,3462.18%Total securities 3,133,792 72,6753.09% 2,104,850 32,3212.05%Interest-bearing balances with banks 846,844 25,7924.07% 687,318 27,5275.35%Total interest-earning assets 20,983,856 927,0305.90% 15,530,948 670,1435.75%Cash and due from banks 282,476 188,485 Intangible assets 1,392,393 1,007,710 Other assets 915,322 694,427 Total assets$23,574,047 $17,421,570 Interest-bearing liabilities: Interest-bearing demand(1)$10,196,332$213,3322.80%$7,128,721$168,9583.16%Savings deposits 1,146,732 2,6860.31% 838,443 2,1880.35%Brokered deposits — ——% 296,550 11,9295.36%Time deposits 3,095,753 90,8623.92% 2,451,733 77,9464.25%Total interest-bearing deposits 14,438,817 306,8802.84% 10,715,447 261,0213.25%Borrowed funds 853,071 31,8704.99% 569,476 22,0985.17%Total interest-bearing liabilities 15,291,888 338,7502.96% 11,284,923 283,1193.35%Noninterest-bearing deposits 4,629,790 3,512,318 Other liabilities 237,417 221,932 Shareholders’ equity 3,414,952 2,402,397 Total liabilities and shareholders’ equity$23,574,047 $17,421,570 Net interest income/ net interest margin $588,2803.75% $387,0243.32%Cost of funding 2.27% 2.55%Cost of total deposits 2.15% 2.45%

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

Loan Portfolio

(Dollars in thousands)As of Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Loan Portfolio: Commercial, financial, agricultural$2,760,490 $2,666,923 $1,888,580 $1,885,817 $1,804,961 Lease financing 74,179 89,568 85,412 90,591 98,159 Real estate - construction 1,527,490 1,339,967 1,090,862 1,093,653 1,198,838 Real estate - 1-4 family mortgages 4,882,612 4,874,679 3,583,080 3,488,877 3,440,038 Real estate - commercial mortgages 9,665,075 9,470,134 6,320,120 6,236,068 5,995,152 Installment loans to individuals 115,675 122,176 87,539 90,014 90,500 Total loans$19,025,521 $18,563,447 $13,055,593 $12,885,020 $12,627,648

Credit Quality and Allowance for Credit Losses on Loans

(Dollars in thousands)As of Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Nonperforming Assets: Nonaccruing loans$170,756 $137,999 $98,638 $110,811 $113,872 Loans 90 days or more past due 792 3,860 95 2,464 5,351 Total nonperforming loans 171,548 141,859 98,733 113,275 119,223 Other real estate owned 10,578 11,750 8,654 8,673 9,136 Total nonperforming assets$182,126 $153,609 $107,387 $121,948 $128,359 Criticized Loans Classified loans$392,721 $333,626 $224,654 $241,708 $218,135 Special Mention loans 219,792 159,931 95,778 130,882 163,804 Criticized loans$612,513 $493,557 $320,432 $372,590 $381,939 Allowance for credit losses on loans$297,591 $290,770 $203,931 $201,756 $200,378 Net loan charge-offs (recoveries)$4,339 $12,054 $(125)$1,722 $703 Annualized net loan charge-offs / average loans 0.09% 0.26% —% 0.05% 0.02%Nonperforming loans / total loans 0.90 0.76 0.76 0.88 0.94 Nonperforming assets / total assets 0.68 0.58 0.59 0.68 0.71 Allowance for credit losses on loans / total loans 1.56 1.57 1.56 1.57 1.59 Allowance for credit losses on loans / nonperforming loans 173.47 204.97 206.55 178.11 168.07 Criticized loans / total loans 3.22 2.66 2.45 2.89 3.02

CONFERENCE CALL INFORMATION:
A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM Eastern Time (9:00 AM Central Time) on Wednesday, October 29, 2025.

The webcast is accessible through Renasant’s investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=Dvjgj9gH To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2025 Third Quarter Earnings Webcast and Conference Call. International participants should dial 1-412-902-4145 to access the conference call.

The webcast will be archived on www.renasant.com after the call and will remain accessible for one year. A replay can be accessed via telephone by dialing 1-877-344-7529 in the United States and entering conference number 4915100 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until November 12, 2025.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank, a 121-year-old financial services institution. Renasant has assets of approximately $26.7 billion and operates 289 banking, lending, mortgage and wealth management offices throughout the Southeast and also offers factoring and asset-based lending on a nationwide basis.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This press release may contain, or incorporate by reference, statements about Renasant Corporation that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “projects,” “anticipates,” “intends,” “estimates,” “plans,” “potential,” “focus,” “possible,” “may increase,” “may fluctuate,” “will likely result,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would” and “could,” are generally forward-looking in nature and not historical facts. Forward-looking statements include information about the Company’s future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. The Company’s management believes these forward-looking statements are reasonable, but they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Company’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ from those indicated or implied in the forward-looking statements, and such differences may be material. Prospective investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties and, accordingly, investors should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.

Important factors currently known to management that could cause the Company’s actual results to differ materially from those in forward-looking statements include the following: (i) the Company’s ability to efficiently integrate acquisitions (including its merger with The First) into its operations, retain the customers of these businesses, grow the acquired operations and realize the cost savings expected from an acquisition to the extent and in the timeframe anticipated by management (including the possibility that such cost savings will not be realized when expected, or at all, as a result of the impact of, or challenges arising from, the integration of the acquired assets and assumed liabilities into the Company, potential adverse reactions or changes to business or employee relationships, or as a result of other unexpected factors or events); (ii) potential exposure to unknown or contingent risks and liabilities the Company has acquired, or may acquire, or target for acquisition, including in connection with its merger with The First; (iii) the effect of economic conditions and interest rates on a national, regional or international basis; (iv) timing and success of the implementation of changes in operations to achieve enhanced earnings or effect cost savings; (v) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vi) the financial resources of, and products available from, competitors; (vii) changes in laws and regulations as well as changes in accounting standards; (viii) changes in governmental and regulatory policy, whether applicable specifically to financial institutions or impacting the United States generally (such as, for example, changes in trade policy); (ix) increased scrutiny by, and/or additional regulatory requirements of, regulatory agencies as a result of the Company’s merger with The First; (x) changes in the securities and foreign exchange markets; (xi) the Company’s potential growth, including its entrance or expansion into new markets, and the need for sufficient capital to support that growth; (xii) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of the Company’s investment securities portfolio; (xiii) an insufficient allowance for credit losses as a result of inaccurate assumptions; (xiv) changes in the sources and costs of the capital the Company uses to make loans and otherwise fund the Company’s operations, due to deposit outflows, changes in the mix of deposits and the cost and availability of borrowings; (xv) general economic, market or business conditions, including the impact of inflation; (xvi) changes in demand for loan and deposit products and other financial services; (xvii) concentrations of credit or deposit exposure; (xviii) changes or the lack of changes in interest rates, yield curves and interest rate spread relationships; (xix) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses; (xx) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxi) geopolitical conditions, including acts or threats of terrorism and actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact business and economic conditions in the United States and abroad; (xxii) the impact, extent and timing of technological changes; and (xxiii) other circumstances, many of which are beyond management’s control.

Management believes that the assumptions underlying the Company’s forward-looking statements are reasonable, but any of the assumptions could prove to be inaccurate. Investors are urged to carefully consider the risks described in the Company’s filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at www.renasant.com and the SEC’s website at www.sec.gov.

The Company undertakes no obligation, and specifically disclaims any obligation, to update or revise forward-looking statements, whether as a result of new information or to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by federal securities laws.

NON-GAAP FINANCIAL MEASURES:

In addition to results presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), this press release and the presentation slides furnished to the SEC on the same Form 8-K as this release contain non-GAAP financial measures, namely, (i) adjusted loan yield, (ii) adjusted net interest income and margin, (iii) pre-provision net revenue (including on an as-adjusted basis), (iv) adjusted net income, (v) adjusted diluted earnings per share, (vi) tangible book value per share, (vii) the tangible common equity ratio, (viii) the adjusted return on average assets and on average equity and certain other performance ratios (namely, the ratio of pre-provision net revenue to average assets and the return on average tangible assets and on average tangible common equity (including each of the foregoing on an as-adjusted basis)), and (ix) the adjusted efficiency ratio.

These non-GAAP financial measures adjust GAAP financial measures to exclude intangible assets, including related amortization, and/or certain gains or charges (such as, for the third quarter of 2025, merger and conversion expenses), with respect to which the Company is unable to accurately predict when these charges will be incurred or, when incurred, the amount thereof. Management uses these non-GAAP financial measures when evaluating capital utilization and adequacy. In addition, the Company believes that these non-GAAP financial measures facilitate the making of period-to-period comparisons and are meaningful indicators of its operating performance, particularly because these measures are widely used by industry analysts for companies with merger and acquisition activities. Also, because intangible assets such as goodwill and the core deposit intangible can vary extensively from company to company and, as to intangible assets, are excluded from the calculation of a financial institution’s regulatory capital, the Company believes that the presentation of this non-GAAP financial information allows readers to more easily compare the Company’s results to information provided in other regulatory reports and the results of other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables below under the caption “Non-GAAP Reconciliations”.

None of the non-GAAP financial information that the Company has included in this release or the accompanying presentation slides are intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Investors should note that, because there are no standardized definitions for the calculations as well as the results, the Company’s calculations may not be comparable to similarly titled measures presented by other companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider its consolidated financial statements in their entirety and not to rely on any single financial measure.

Non-GAAP Reconciliations

(Dollars in thousands, except per share data)Three Months Ended Nine Months Ended Sep 30,
2025Jun 30,
2025Mar 31,
2025Dec 31,
2024Sep 30,
2024 Sep 30,
2025Sep 30,
2024Adjusted Pre-Provision Net Revenue (“PPNR”) Net income (GAAP)$59,788 $1,018 $41,518 $44,747 $72,455 $102,324 $150,710 Income taxes 15,478 1,649 10,448 5,006 24,924 27,575 44,502 Provision for credit losses (including unfunded commitments) 10,450 81,322 4,750 2,600 935 96,522 6,673 Pre-provision net revenue (non-GAAP)$85,716 $83,989 $56,716 $52,353 $98,314 $226,421 $201,885 Merger and conversion related expense 17,494 20,479 791 2,076 11,273 38,764 11,273 Gain on extinguishment of debt — — — — — — (56)Gain on sales of MSR — (1,467) — (252) — (1,467) (3,472)Gain on sale of insurance agency — — — — (53,349) — (53,349)Adjusted pre-provision net revenue (non-GAAP)$103,210 $103,001 $57,507 $54,177 $56,238 $263,718 $156,281 Adjusted Net Income and Adjusted Tangible Net Income Net income (GAAP)$59,788 $1,018 $41,518 $44,747 $72,455 $102,324 $150,710 Amortization of intangibles 8,674 8,884 1,080 1,133 1,160 18,638 3,558 Tax effect of adjustments noted above(1) (2,164) (2,212) (270) (283) (296) (4,641) (909)Tangible net income (non-GAAP)$66,298 $7,690 $42,328 $45,597 $73,319 $116,321 $153,359 Net income (GAAP)$59,788 $1,018 $41,518 $44,747 $72,455 $102,324 $150,710 Merger and conversion related expense 17,494 20,479 791 2,076 11,273 38,764 11,273 Day 1 acquisition provision for loan losses — 62,190 — — — 62,190 — Day 1 acquisition provision for unfunded commitments — 4,422 — — — 4,422 — Gain on extinguishment of debt — — — — — — (56)Gain on sales of MSR — (1,467) — (252) — (1,467) (3,472)Gain on sale of insurance agency — — — — (53,349) — (53,349)Tax effect of adjustments noted above(1) (4,365) (20,765) (198) (113) 12,581 (25,424) 13,482 Adjusted net income (non-GAAP)$72,917 $65,877 $42,111 $46,458 $42,960 $180,809 $118,588 Amortization of intangibles 8,674 8,884 1,080 1,133 1,160 18,638 3,558 Tax effect of adjustments noted above(1) (2,164) (2,212) (270) (283) (296) (4,641) (909)Adjusted tangible net income (non-GAAP)$79,427 $72,549 $42,921 $47,308 $43,824 $194,806 $121,237 Tangible Assets and Tangible Shareholders’ Equity Average shareholders’ equity (GAAP)$3,794,996 $3,745,051 $2,692,681 $2,656,885 $2,553,517 $3,414,952 $2,402,397 Average intangible assets (1,578,846) (1,589,490) (1,002,511) (1,003,551) (1,004,701) (1,392,393) (1,007,710)Average tangible shareholders’ equity (non-GAAP)$2,216,150 $2,155,561 $1,690,170 $1,653,334 $1,548,816 $2,022,559 $1,394,687 Average assets (GAAP)$26,456,596 $26,182,865 $17,989,636 $17,943,148 $17,681,596 $23,574,047 $17,421,570 Average intangible assets (1,578,846) (1,589,490) (1,002,511) (1,003,551) (1,004,701) (1,392,393) (1,007,710)Average tangible assets (non-GAAP)$24,877,750 $24,593,375 $16,987,125 $16,939,597 $16,676,895 $22,181,654 $16,413,860 Shareholders’ equity (GAAP)$3,825,778 $3,778,854 $2,727,105 $2,678,318 $2,658,078 $3,825,778 $2,658,078 Intangible assets (1,566,788) (1,583,533) (1,001,923) (1,003,003) (1,004,136) (1,566,788) (1,004,136)Tangible shareholders’ equity (non-GAAP)$2,258,990 $2,195,321 $1,725,182 $1,675,315 $1,653,942 $2,258,990 $1,653,942 Total assets (GAAP)$26,726,165 $26,624,975 $18,271,381 $18,034,868 $17,958,840 $26,726,165 $17,958,840 Intangible assets (1,566,788) (1,583,533) (1,001,923) (1,003,003) (1,004,136) (1,566,788) (1,004,136)Total tangible assets (non-GAAP)$25,159,377 $25,041,442 $17,269,458 $17,031,865 $16,954,704 $25,159,377 $16,954,704 Adjusted Performance Ratios Return on average assets (GAAP) 0.90% 0.02% 0.94% 0.99% 1.63% 0.58% 1.16%Adjusted return on average assets (non-GAAP) 1.09 1.01 0.95 1.03 0.97 1.03 0.91 Return on average tangible assets (non-GAAP) 1.06 0.13 1.01 1.07 1.75 0.70 1.25 Pre-provision net revenue to average assets (non-GAAP) 1.29 1.29 1.28 1.16 2.21 1.28 1.55 Adjusted pre-provision net revenue to average assets (non-GAAP) 1.55 1.58 1.30 1.20 1.27 1.50 1.20 Adjusted return on average tangible assets (non-GAAP) 1.27 1.18 1.02 1.11 1.05 1.17 0.99 Return on average equity (GAAP) 6.25 0.11 6.25 6.70 11.29 4.01 8.38 Adjusted return on average equity (non-GAAP) 7.62 7.06 6.34 6.96 6.69 7.08 6.59 Return on average tangible equity (non-GAAP) 11.87 1.43 10.16 10.97 18.83 7.69 14.69 Adjusted return on average tangible equity (non-GAAP) 14.22 13.50 10.30 11.38 11.26 12.88 11.61 Adjusted Diluted Earnings Per Share Average diluted shares outstanding 95,284,603 95,136,160 64,028,025 64,056,303 61,632,448 84,934,390 58,297,554 Diluted earnings per share (GAAP)$0.63 $0.01 $0.65 $0.70 $1.18 $1.20 $2.59 Adjusted diluted earnings per share (non-GAAP)$0.77 $0.69 $0.66 $0.73 $0.70 $2.13 $2.03 Tangible Book Value Per Share Shares outstanding 95,020,881 95,019,311 63,739,467 63,565,690 63,564,028 95,020,881 63,564,028 Book value per share (GAAP)$40.26 $39.77 $42.79 $42.13 $41.82 $40.26 $41.82 Tangible book value per share (non-GAAP)$23.77 $23.10 $27.07 $26.36 $26.02 $23.77 $26.02 Tangible Common Equity Ratio Shareholders’ equity to assets (GAAP) 14.31% 14.19% 14.93% 14.85% 14.80% 14.31% 14.80%Tangible common equity ratio (non-GAAP) 8.98% 8.77% 9.99% 9.84% 9.76% 8.98% 9.76%Adjusted Efficiency Ratio Net interest income (FTE) (GAAP)$228,131 $222,717 $137,432 $135,502 $133,576 $588,280 $387,024 Total noninterest income (GAAP)$46,026 $48,334 $36,395 $34,218 $89,299 $130,755 $169,442 Gain on sales of MSR — (1,467) — (252) — (1,467) (3,472)Gain on extinguishment of debt — — — — — — (56)Gain on sale of insurance agency — — — — (53,349) — (53,349)Total adjusted noninterest income (non-GAAP)$46,026 $46,867 $36,395 $33,966 $35,950 $129,288 $112,565 Noninterest expense (GAAP)$183,830 $183,204 $113,876 $114,747 $121,983 $480,910 $346,871 Amortization of intangibles (8,674) (8,884) (1,080) (1,133) (1,160) (18,638) (3,558)Merger and conversion expense (17,494) (20,479) (791) (2,076) (11,273) (38,764) (11,273)Total adjusted noninterest expense (non-GAAP)$157,662 $153,841 $112,005 $111,538 $109,550 $423,508 $332,040 Efficiency ratio (GAAP) 67.05% 67.59% 65.51% 67.61% 54.73% 66.88% 62.33%Adjusted efficiency ratio (non-GAAP) 57.51% 57.07% 64.43% 65.82% 64.62% 59.02% 66.46% Adjusted Net Interest Income and Adjusted Net Interest Margin Net interest income (FTE) (GAAP)$228,131 $222,717 $137,432 $135,502 $133,576 $588,280 $387,024 Net interest income collected on problem loans (664) (2,779) (1,026) (151) (642) (4,469) (619)Accretion recognized on purchased loans (16,862) (17,834) (558) (616) (1,089) (35,254) (2,786)Amortization recognized on purchased time deposits 2,995 4,396 — — — 7,391 — Amortization recognized on purchased long term borrowings 837 1,072 — — — 1,909 — Adjustments to net interest income$(13,694)$(15,145)$(1,584)$(767)$(1,731) $(30,423)$(3,405)Adjusted net interest income (FTE) (non-GAAP)$214,437 $207,572 $135,848 $134,735 $131,845 $557,857 $383,619 Net interest margin (GAAP) 3.85% 3.85% 3.45% 3.36% 3.36% 3.75% 3.32%Adjusted net interest margin (non-GAAP) 3.62% 3.58% 3.42% 3.34% 3.32% 3.55% 3.30% Adjusted Loan Yield Loan interest income (FTE) (GAAP)$311,903 $304,834 $199,504 $201,562 $204,935 $816,241 $600,245 Net interest income collected on problem loans (664) (2,779) (1,026) (151) (642) (4,469) (619)Accretion recognized on purchased loans (16,862) (17,834) (558) (616) (1,089) (35,254) (2,786)Adjusted loan interest income (FTE) (non-GAAP)$294,377 $284,221 $197,920 $200,795 $203,204 $776,518 $596,840 Loan yield (GAAP) 6.60% 6.63% 6.24% 6.29% 6.47% 6.52% 6.39%Adjusted loan yield (non-GAAP) 6.23% 6.18% 6.19% 6.27% 6.41% 6.20% 6.35%

(1) Tax effect is calculated based on the respective legal entity’s appropriate federal and state tax rates (as applicable) for the period, and includes the estimated impact of both current and deferred tax expense.

Contacts:For Media: For Financials: John S. Oxford James C. Mabry IV Senior Vice President Executive Vice President Chief Marketing Officer Chief Financial Officer (662) 680-1219 (662) 680-1281