Renasant Corp 8-K, filed Oct 27, 2026
Renasant Corp (RNST)
8-K
2026-10-27
For: 2026-10-27
View Original
Added on
October 27, 2026
About this 8-K
Renasant Corp filed this 8-K on October 27, 2026.
Renasant Corp reported third-quarter 2026 net income of $78.9 million and diluted EPS of $0.86, while loans increased $555.9 million. Its board approved a $175.0 million stock repurchase program effective October 27, 2026. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (662 ) 680-1001
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On October 27, 2026, Renasant Corporation (the “Company”) issued a press release announcing earnings for the third quarter of 2026. The press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 7.01. Regulation FD Disclosure
On October 27, 2026, the Company also made available presentation materials (the “Presentation”) prepared for use with its earnings conference call on October 28, 2026. The Presentation is attached hereto and incorporated herein as Exhibit 99.2.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.2, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.
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,” or 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 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; (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) the Company’s ability to remediate the material weakness in the its internal control over financial reporting identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on March 2, 2026; (vi) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vii) the financial resources of, and products available from, competitors; (viii) changes in laws and regulations as well as changes in accounting standards; (ix) 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); (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) losses resulting from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting the Company’s customers, employees and third party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including as a result of sophisticated attacks using artificial intelligence (“AI”) and similar tools; (xxi) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxii) 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; (xxiii) the impact, extent and timing of technological changes, including the rapid development of AI technologies; and (xxiv) other circumstances, many of which are beyond management’s control.
Management believes that the assumptions underlying 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 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.
Item 9.01. Financial Statements and Exhibits.
(d) The following exhibits are furnished herewith:
Exhibit No. Description
104 The cover page of Renasant Corporation's Form 8-K is formatted in Inline XBRL.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RENASANT CORPORATION | |||||||||||
Date: October 27, 2026 | By: | /s/ Kevin D. Chapman | |||||||||
Kevin D. Chapman | |||||||||||
Chief Executive Officer | |||||||||||
| 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 | ||||||||||
RENASANT CORPORATION ANNOUNCES
EARNINGS FOR THE THIRD QUARTER OF 2026
TUPELO, MISSISSIPPI (October 27, 2026) - Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the third quarter of 2026.
| (Dollars in thousands, except earnings per share) | Three Months Ended | Nine Months Ended | ||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||
| Net income and Earnings per share: | ||||||||||||||||||||
| Net income | $78,949 | $87,091 | $59,788 | $254,268 | $102,324 | |||||||||||||||
| Merger and conversion related expenses (net of tax) | — | — | (13,129) | — | (29,561) | |||||||||||||||
| Day 1 acquisition provision (net of tax) | — | — | — | — | (50,026) | |||||||||||||||
| Basic EPS | 0.87 | 0.95 | 0.63 | 2.76 | 1.21 | |||||||||||||||
| Diluted EPS | 0.86 | 0.94 | 0.63 | 2.74 | 1.20 | |||||||||||||||
Adjusted diluted EPS (non-GAAP)(1) | 0.86 | 0.94 | 0.77 | 2.74 | 2.13 | |||||||||||||||
| Impact to diluted EPS from merger and conversion related expenses (net of tax) | — | — | (0.14) | — | (0.35) | |||||||||||||||
| Impact to diluted EPS from Day 1 acquisition provision (net of tax) | — | — | — | — | (0.59) | |||||||||||||||
“Third quarter results reflect strong loan growth with a record level of loan production, continued momentum in core deposit growth and a stable core net interest margin. We maintained expense discipline alongside increased hiring efforts, were active in buybacks, and reduced our levels of criticized and nonperforming loans. We believe our team is well-positioned to build upon our year-to-date success as we grow customer relationships and hire talent throughout our footprint,” remarked Kevin D. Chapman, President and Chief Executive Officer of the Company.
Quarterly Highlights
Earnings
•Net income for the third quarter of 2026 was $78.9 million; both diluted EPS and adjusted diluted EPS (non-GAAP)(1) were $0.86
•Net interest income, on a fully tax equivalent basis, for the third quarter of 2026 was $228.6 million, up $0.9 million linked quarter
1
•Net interest margin, on a fully tax equivalent basis, for the third quarter of 2026 was 3.77%, down 6 basis points linked quarter. Adjusted net interest margin (non-GAAP)(1) was 3.58%, down 3 basis points linked quarter
•Cost of total deposits was 1.97% for the third quarter of 2026, up 1 basis point linked quarter
•Noninterest income decreased $1.9 million linked quarter, primarily due to rising mortgage interest rates that resulted in both decreased production of new loans and market value adjustments on pending loan sales
•Mortgage banking income decreased $1.9 million linked quarter. The mortgage division generated $520.6 million in interest rate lock volume in the third quarter of 2026, down $91.0 million linked quarter. Gain on sale margin was 1.75% for the third quarter of 2026, up 18 basis points linked quarter
•Noninterest expense decreased $1.2 million linked quarter, driven primarily by a decline in deferred compensation expense tied to market valuations and an increase in deferred loan costs driven by loan growth, partially offset by higher health insurance claims
Balance Sheet
•Loans increased $555.9 million linked quarter, representing an 11.5% annualized net loan increase, driven by strong production during the quarter and lower payoff activity on a linked quarter basis
•Securities decreased $33.1 million linked quarter. The Company purchased $196.9 million in securities during the third quarter, which was offset by a negative fair market value adjustment in the Company’s available-for-sale portfolio of $86.0 million and cash flows related to principal payments, calls and maturities of $153.5 million
•Deposits at September 30, 2026 decreased $73.2 million linked quarter. Outflows in public fund deposits of $214.7 million were partially offset by growth in consumer and commercial deposits. Noninterest bearing deposits represented 23.1% of total deposits at September 30, 2026 as compared to 23.2% at June 30, 2026
•Short-term borrowings increased $491.3 million linked quarter
•The Company redeemed $40.0 million in subordinated notes on September 1, 2026
Capital and Stock Repurchase Program
•Book value per share and tangible book value per share (non-GAAP)(1) increased 0.1% and decreased 0.2%, respectively, linked quarter
•During the third quarter of 2026, the Company repurchased $42.6 million of common stock at a weighted average price of $41.05 per share
•Effective October 27, 2026, the Company’s Board of Directors approved a $175.0 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 program, which will remain in effect until the earlier of October 2027 or the repurchase of the entire amount authorized under the plan, replaces the Company’s stock repurchase program that expired in October 2026
Credit Quality
•The Company recorded a provision for credit losses on loans and unfunded commitments of $10.1 million and $3.2 million, respectively, for the third quarter of 2026, representing an increase of $8.9 million and $0.6 million, respectively, linked quarter, primarily driven by growth in loans and unfunded commitments
•The ratio of the allowance for credit losses on loans to total loans was 1.50% at September 30, 2026, down 4 basis points linked quarter. The lower ACL ratio was primarily attributable to continued improvement in overall credit quality metrics and movements in the specific reserve, partially offset by strong loan growth during the quarter
•The coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 168.75% at September 30, 2026, compared to 158.73% at June 30, 2026
•Net loan charge-offs for the third quarter of 2026 were $10.0 million, or 0.20% annualized, of which 16 bps were attributable to a single credit
•Nonperforming loans to total loans decreased to 0.89% at September 30, 2026 compared to 0.97% at June 30, 2026 , and criticized loans (which include classified and special mention loans) to total loans decreased to 2.50% at September 30, 2026, compared to 2.66% at June 30, 2026
(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.
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Income Statement
| (Dollars in thousands, except per share data) | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||
| Loans held for investment | $ | 304,902 | $ | 296,346 | $ | 295,397 | $ | 305,604 | $ | 308,110 | $ | 896,645 | $ | 806,470 | ||||||||||||
| Loans held for sale | 2,983 | 3,329 | 2,876 | 3,617 | 4,675 | 9,188 | 12,322 | |||||||||||||||||||
| Securities | 34,441 | 35,660 | 32,266 | 30,232 | 30,217 | 102,367 | 70,742 | |||||||||||||||||||
| Other | 5,009 | 5,105 | 7,581 | 7,480 | 8,096 | 17,695 | 25,792 | |||||||||||||||||||
| Total interest income | 347,335 | 340,440 | 338,120 | 346,933 | 351,098 | 1,025,895 | 915,326 | |||||||||||||||||||
| Interest expense | ||||||||||||||||||||||||||
| Deposits | 107,022 | 106,398 | 103,860 | 105,673 | 115,573 | 317,280 | 306,880 | |||||||||||||||||||
| Borrowings | 16,624 | 11,288 | 10,701 | 13,867 | 12,005 | 38,613 | 31,870 | |||||||||||||||||||
| Total interest expense | 123,646 | 117,686 | 114,561 | 119,540 | 127,578 | 355,893 | 338,750 | |||||||||||||||||||
| Net interest income | 223,689 | 222,754 | 223,559 | 227,393 | 223,520 | 670,002 | 576,576 | |||||||||||||||||||
| Provision for credit losses | ||||||||||||||||||||||||||
| Provision for loan losses | 10,105 | 1,166 | 4,224 | 5,473 | 9,650 | 15,495 | 87,100 | |||||||||||||||||||
| Provision for unfunded commitments | 3,200 | 2,633 | 3,856 | 5,462 | 800 | 9,689 | 9,422 | |||||||||||||||||||
| Total provision for credit losses | 13,305 | 3,799 | 8,080 | 10,935 | 10,450 | 25,184 | 96,522 | |||||||||||||||||||
| Net interest income after provision for credit losses | 210,384 | 218,955 | 215,479 | 216,458 | 213,070 | 644,818 | 480,054 | |||||||||||||||||||
| Noninterest income | 49,275 | 51,190 | 50,272 | 51,125 | 46,026 | 150,737 | 130,755 | |||||||||||||||||||
| Noninterest expense | 160,334 | 161,501 | 155,328 | 170,750 | 183,830 | 477,163 | 480,910 | |||||||||||||||||||
| Income before income taxes | 99,325 | 108,644 | 110,423 | 96,833 | 75,266 | 318,392 | 129,899 | |||||||||||||||||||
| Income taxes | 20,376 | 21,553 | 22,195 | 17,885 | 15,478 | 64,124 | 27,575 | |||||||||||||||||||
| Net income | $ | 78,949 | $ | 87,091 | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 254,268 | $ | 102,324 | ||||||||||||
Adjusted net income (non-GAAP)(1) | $ | 78,949 | $ | 87,091 | $ | 88,071 | $ | 86,879 | $ | 72,917 | $ | 254,111 | $ | 180,809 | ||||||||||||
Adjusted pre-provision net revenue (“PPNR”) (non-GAAP)(1) | $ | 112,630 | $ | 112,443 | $ | 118,294 | $ | 118,335 | $ | 103,210 | $ | 343,367 | $ | 263,718 | ||||||||||||
| Basic earnings per share | $ | 0.87 | $ | 0.95 | $ | 0.94 | $ | 0.84 | $ | 0.63 | $ | 2.76 | $ | 1.21 | ||||||||||||
| Diluted earnings per share | 0.86 | 0.94 | 0.94 | 0.83 | 0.63 | 2.74 | 1.20 | |||||||||||||||||||
Adjusted diluted earnings per share (non-GAAP)(1) | 0.86 | 0.94 | 0.93 | 0.91 | 0.77 | 2.74 | 2.13 | |||||||||||||||||||
| Average basic shares outstanding | 90,925,375 | 91,650,415 | 93,693,615 | 94,469,544 | 94,623,551 | 92,079,661 | 84,403,694 | |||||||||||||||||||
| Average diluted shares outstanding | 91,557,082 | 92,220,282 | 94,228,343 | 95,172,380 | 95,284,603 | 92,661,200 | 84,934,390 | |||||||||||||||||||
| Cash dividends per common share | $ | 0.24 | $ | 0.24 | $ | 0.23 | $ | 0.23 | $ | 0.22 | $ | 0.71 | $ | 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.
3
Performance Ratios
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||
| Return on average assets | 1.16 | % | 1.30 | % | 1.33 | % | 1.17 | % | 0.90 | % | 1.26 | % | 0.58 | % | ||||||||||||
Adjusted return on average assets (non-GAAP)(1) | 1.16 | 1.30 | 1.33 | 1.29 | 1.09 | 1.26 | 1.03 | |||||||||||||||||||
Return on average tangible assets (non-GAAP)(1) | 1.32 | 1.48 | 1.51 | 1.35 | 1.06 | 1.44 | 0.70 | |||||||||||||||||||
Adjusted return on average tangible assets (non-GAAP)(1) | 1.32 | 1.48 | 1.51 | 1.47 | 1.27 | 1.44 | 1.17 | |||||||||||||||||||
| Return on average equity | 8.07 | 9.07 | 9.20 | 8.14 | 6.25 | 8.78 | 4.01 | |||||||||||||||||||
Adjusted return on average equity (non-GAAP)(1) | 8.07 | 9.07 | 9.19 | 8.95 | 7.62 | 8.77 | 7.08 | |||||||||||||||||||
Return on average tangible equity (non-GAAP)(1) | 14.51 | 16.25 | 16.36 | 14.80 | 11.87 | 15.70 | 7.69 | |||||||||||||||||||
Adjusted return on average tangible equity (non-GAAP)(1) | 14.51 | 16.25 | 16.33 | 16.18 | 14.22 | 15.69 | 12.88 | |||||||||||||||||||
| Efficiency ratio (fully taxable equivalent) | 57.70 | 57.92 | 55.73 | 60.23 | 67.05 | 57.12 | 66.88 | |||||||||||||||||||
Adjusted efficiency ratio (non-GAAP)(1) | 54.70 | 54.92 | 52.82 | 53.52 | 57.51 | 54.15 | 59.02 | |||||||||||||||||||
| Dividend payout ratio | 27.59 | 25.26 | 24.47 | 27.38 | 34.92 | 25.72 | 54.55 | |||||||||||||||||||
Capital and Balance Sheet Ratios
| As of | |||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||
| Shares outstanding | 90,356,578 | 91,403,230 | 92,881,329 | 94,636,207 | 95,020,881 | ||||||||||||
| Market value per share | $ | 38.88 | $ | 42.54 | $ | 36.13 | $ | 35.22 | $ | 36.89 | |||||||
| Book value per share | 42.41 | 42.35 | 41.63 | 41.05 | 40.26 | ||||||||||||
Tangible book value per share (non-GAAP)(1) | 25.29 | 25.34 | 25.00 | 24.65 | 23.77 | ||||||||||||
| Shareholders’ equity to assets | 13.93 | % | 14.34 | % | 14.27 | % | 14.52 | % | 14.31 | % | |||||||
Tangible common equity ratio (non-GAAP)(1) | 8.80 | 9.10 | 9.08 | 9.26 | 8.98 | ||||||||||||
Leverage ratio(2) | 9.54 | 9.55 | 9.54 | 9.61 | 9.46 | ||||||||||||
Common equity tier 1 capital ratio(2) | 10.92 | 11.06 | 11.22 | 11.24 | 11.04 | ||||||||||||
Tier 1 risk-based capital ratio(2) | 10.92 | 11.06 | 11.22 | 11.24 | 11.04 | ||||||||||||
Total risk-based capital ratio(2) | 15.52 | 15.94 | 14.77 | 14.78 | 14.88 | ||||||||||||
(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
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Noninterest Income and Noninterest Expense
| (Dollars in thousands) | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||
| Noninterest income | ||||||||||||||||||||||||||
| Service charges on deposit accounts | $ | 15,270 | $ | 14,516 | $ | 14,740 | $ | 14,535 | $ | 13,416 | $ | 44,526 | $ | 37,398 | ||||||||||||
| Fees and commissions | 4,942 | 5,471 | 4,654 | 5,192 | 4,167 | 15,067 | 14,604 | |||||||||||||||||||
| Wealth management revenue | 9,211 | 9,073 | 8,678 | 8,572 | 8,217 | 26,962 | 22,629 | |||||||||||||||||||
| Mortgage banking income | 7,323 | 9,178 | 9,435 | 8,924 | 9,017 | 25,936 | 28,427 | |||||||||||||||||||
| BOLI income | 4,045 | 4,608 | 3,689 | 3,697 | 4,235 | 12,342 | 10,547 | |||||||||||||||||||
| Other | 8,484 | 8,344 | 9,076 | 10,205 | 6,974 | 25,904 | 17,150 | |||||||||||||||||||
| Total noninterest income | $ | 49,275 | $ | 51,190 | $ | 50,272 | $ | 51,125 | $ | 46,026 | $ | 150,737 | $ | 130,755 | ||||||||||||
| Noninterest expense | ||||||||||||||||||||||||||
| Salaries and employee benefits | $ | 95,871 | $ | 96,228 | $ | 91,749 | $ | 98,082 | $ | 98,982 | $ | 283,848 | $ | 270,481 | ||||||||||||
| Data processing | 5,411 | 5,037 | 5,221 | 5,636 | 5,541 | 15,669 | 15,068 | |||||||||||||||||||
| Net occupancy and equipment | 18,016 | 18,018 | 18,031 | 16,123 | 18,415 | 54,065 | 47,528 | |||||||||||||||||||
| Other real estate owned | 366 | 453 | 1,399 | 481 | 328 | 2,218 | 1,170 | |||||||||||||||||||
| Professional fees | 3,935 | 4,518 | 4,402 | 4,327 | 3,435 | 12,855 | 10,542 | |||||||||||||||||||
| Advertising and public relations | 4,945 | 4,677 | 4,599 | 4,314 | 5,254 | 14,221 | 14,041 | |||||||||||||||||||
| Intangible amortization | 8,332 | 8,370 | 8,220 | 8,465 | 8,674 | 24,922 | 18,638 | |||||||||||||||||||
| Communications | 3,389 | 3,566 | 4,009 | 4,493 | 3,955 | 10,964 | 9,172 | |||||||||||||||||||
| Merger and conversion related expenses | — | — | — | 10,567 | 17,494 | — | 38,764 | |||||||||||||||||||
| Other | 20,069 | 20,634 | 17,698 | 18,262 | 21,752 | 58,401 | 55,506 | |||||||||||||||||||
| Total noninterest expense | $ | 160,334 | $ | 161,501 | $ | 155,328 | $ | 170,750 | $ | 183,830 | $ | 477,163 | $ | 480,910 | ||||||||||||
Mortgage Banking Income
| (Dollars in thousands) | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||
Gain on sales of loans, net(1) | $ | 2,390 | $ | 4,760 | $ | 5,305 | $ | 5,243 | $ | 5,270 | $ | 12,455 | $ | 15,086 | ||||||||||||
| Fees, net | 2,945 | 3,470 | 2,842 | 2,970 | 3,050 | 9,257 | 9,107 | |||||||||||||||||||
| Mortgage servicing income, net | 1,988 | 948 | 1,288 | 711 | 697 | 4,224 | 4,234 | |||||||||||||||||||
| Total mortgage banking income | $ | 7,323 | $ | 9,178 | $ | 9,435 | $ | 8,924 | $ | 9,017 | $ | 25,936 | $ | 28,427 | ||||||||||||
(1) Gain on sales of loans, net includes pipeline fair value adjustments
5
Balance Sheet
| (Dollars in thousands) | As of | ||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||
| Assets | |||||||||||||||||
| Cash and cash equivalents | $ | 734,518 | $ | 881,203 | $ | 1,216,980 | $ | 1,070,718 | $ | 1,083,785 | |||||||
| Securities held to maturity, at amortized cost | 956,981 | 983,032 | 1,006,511 | 1,030,073 | 1,051,884 | ||||||||||||
| Securities available for sale, at fair value | 2,835,332 | 2,842,424 | 2,809,647 | 2,560,818 | 2,512,650 | ||||||||||||
| Loans held for sale, at fair value | 200,709 | 241,588 | 230,980 | 265,959 | 286,779 | ||||||||||||
| Loans held for investment | 19,752,119 | 19,196,172 | 18,975,248 | 19,047,039 | 19,025,521 | ||||||||||||
| Allowance for credit losses on loans | (296,094) | (296,008) | (295,862) | (293,955) | (297,591) | ||||||||||||
| Loans, net | 19,456,025 | 18,900,164 | 18,679,386 | 18,753,084 | 18,727,930 | ||||||||||||
| Premises and equipment, net | 465,502 | 464,020 | 463,723 | 465,141 | 471,213 | ||||||||||||
| Other real estate owned | 15,662 | 15,571 | 12,954 | 15,191 | 10,578 | ||||||||||||
| Goodwill | 1,417,538 | 1,417,538 | 1,406,667 | 1,405,840 | 1,411,711 | ||||||||||||
| Other intangibles | 129,690 | 138,022 | 138,392 | 146,612 | 155,077 | ||||||||||||
| Bank-owned life insurance | 498,298 | 495,235 | 494,874 | 492,541 | 488,920 | ||||||||||||
| Mortgage servicing rights | 67,129 | 65,816 | 64,850 | 65,271 | 65,466 | ||||||||||||
| Other assets | 740,797 | 560,386 | 582,310 | 480,178 | 460,172 | ||||||||||||
| Total assets | $ | 27,518,181 | $ | 27,004,999 | $ | 27,107,274 | $ | 26,751,426 | $ | 26,726,165 | |||||||
Liabilities and Shareholders’ Equity | |||||||||||||||||
| Liabilities | |||||||||||||||||
| Deposits: | |||||||||||||||||
| Noninterest-bearing | $ | 5,001,023 | $ | 5,038,070 | $ | 5,183,426 | $ | 5,043,960 | $ | 5,238,431 | |||||||
| Interest-bearing | 16,626,835 | 16,662,982 | 16,916,058 | 16,429,110 | 16,186,124 | ||||||||||||
| Total deposits | 21,627,858 | 21,701,052 | 22,099,484 | 21,473,070 | 21,424,555 | ||||||||||||
| Short-term borrowings | 806,481 | 315,225 | 305,863 | 555,774 | 606,063 | ||||||||||||
| Long-term debt | 754,834 | 796,469 | 500,342 | 499,756 | 558,878 | ||||||||||||
| Other liabilities | 496,908 | 320,875 | 334,667 | 337,921 | 310,891 | ||||||||||||
| Total liabilities | $ | 23,686,081 | $ | 23,133,621 | $ | 23,240,356 | $ | 22,866,521 | $ | 22,900,387 | |||||||
Shareholders’ equity: | |||||||||||||||||
| Common stock | 488,612 | 488,612 | 488,612 | 488,612 | 488,612 | ||||||||||||
| Treasury stock | (275,384) | (232,402) | (173,835) | (103,494) | (90,297) | ||||||||||||
| Additional paid-in capital | 2,394,732 | 2,390,839 | 2,388,649 | 2,392,997 | 2,389,033 | ||||||||||||
| Retained earnings | 1,384,885 | 1,327,997 | 1,263,116 | 1,196,522 | 1,139,600 | ||||||||||||
| Accumulated other comprehensive loss | (160,745) | (103,668) | (99,624) | (89,732) | (101,170) | ||||||||||||
Total shareholders’ equity | 3,832,100 | 3,871,378 | 3,866,918 | 3,884,905 | 3,825,778 | ||||||||||||
Total liabilities and shareholders’ equity | $ | 27,518,181 | $ | 27,004,999 | $ | 27,107,274 | $ | 26,751,426 | $ | 26,726,165 | |||||||
6
Net Interest Income and Net Interest Margin
| (Dollars in thousands) | Three Months Ended | ||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||
| Average Balance | Interest Income/ Expense(1) | Yield/ Rate(1) | Average Balance | Interest Income/ Expense(1) | Yield/ Rate(1) | Average Balance | Interest Income/ Expense(1) | Yield/ Rate(1) | |||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||
| Loans held for investment | $ | 19,417,475 | $ | 308,666 | 6.31 | % | $ | 19,060,083 | $ | 300,112 | 6.31 | % | $ | 18,750,715 | $ | 311,903 | 6.60 | % | |||||||||||
| Loans held for sale | 195,976 | 2,983 | 6.09 | % | 223,489 | 3,329 | 5.96 | % | 290,756 | 4,675 | 6.43 | % | |||||||||||||||||
| Taxable securities | 3,490,630 | 31,012 | 3.55 | % | 3,472,422 | 29,691 | 3.42 | % | 3,243,693 | 27,107 | 3.34 | % | |||||||||||||||||
| Tax-exempt securities | 454,557 | 4,577 | 4.03 | % | 445,249 | 7,106 | 6.38 | % | 428,252 | 3,928 | 3.67 | % | |||||||||||||||||
| Total securities | 3,945,187 | 35,589 | 3.61 | % | 3,917,671 | 36,797 | 3.76 | % | 3,671,945 | 31,035 | 3.38 | % | |||||||||||||||||
| Interest-bearing balances with banks | 557,301 | 5,009 | 3.57 | % | 600,075 | 5,105 | 3.41 | % | 814,103 | 8,096 | 3.95 | % | |||||||||||||||||
| Total interest-earning assets | 24,115,939 | 352,247 | 5.80 | % | 23,801,318 | 345,343 | 5.82 | % | 23,527,519 | 355,709 | 6.01 | % | |||||||||||||||||
| Cash and due from banks | 243,532 | 264,246 | 306,847 | ||||||||||||||||||||||||||
| Intangible assets | 1,551,577 | 1,546,924 | 1,578,846 | ||||||||||||||||||||||||||
| Other assets | 1,187,852 | 1,187,805 | 1,043,384 | ||||||||||||||||||||||||||
| Total assets | $ | 27,098,900 | $ | 26,800,293 | $ | 26,456,596 | |||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||
Interest-bearing demand(2) | $ | 11,284,644 | $ | 70,759 | 2.49 | % | $ | 11,647,640 | $ | 72,261 | 2.49 | % | $ | 11,521,433 | $ | 82,080 | 2.83 | % | |||||||||||
| Savings deposits | 1,300,364 | 978 | 0.30 | % | 1,307,314 | 944 | 0.29 | % | 1,299,396 | 943 | 0.29 | % | |||||||||||||||||
| Time deposits | 3,908,181 | 35,285 | 3.58 | % | 3,760,192 | 33,193 | 3.54 | % | 3,398,402 | 32,550 | 3.80 | % | |||||||||||||||||
| Total interest-bearing deposits | 16,493,189 | 107,022 | 2.57 | % | 16,715,146 | 106,398 | 2.55 | % | 16,219,231 | 115,573 | 2.83 | % | |||||||||||||||||
| Borrowed funds | 1,362,872 | 16,624 | 4.86 | % | 891,081 | 11,288 | 5.07 | % | 961,980 | 12,005 | 4.97 | % | |||||||||||||||||
| Total interest-bearing liabilities | 17,856,061 | 123,646 | 2.75 | % | 17,606,227 | 117,686 | 2.68 | % | 17,181,211 | 127,578 | 2.95 | % | |||||||||||||||||
| Noninterest-bearing deposits | 5,058,509 | 5,038,879 | 5,226,588 | ||||||||||||||||||||||||||
| Other liabilities | 303,699 | 303,586 | 253,801 | ||||||||||||||||||||||||||
| Shareholders’ equity | 3,880,631 | 3,851,601 | 3,794,996 | ||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 27,098,900 | $ | 26,800,293 | $ | 26,456,596 | |||||||||||||||||||||||
| Net interest income/ net interest margin (FTE) | $ | 228,601 | 3.77 | % | $ | 227,657 | 3.83 | % | $ | 228,131 | 3.85 | % | |||||||||||||||||
| Cost of funding | 2.14 | % | 2.08 | % | 2.26 | % | |||||||||||||||||||||||
| Cost of total deposits | 1.97 | % | 1.96 | % | 2.14 | % | |||||||||||||||||||||||
(1) 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%.
(2) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.
7
Net Interest Income and Net Interest Margin, continued
| (Dollars in thousands) | Nine Months Ended | |||||||||||||||||||
| September 30, 2026 | September 30, 2025 | |||||||||||||||||||
| Average Balance | Interest Income/ Expense(1) | Yield/ Rate(1) | Average Balance | Interest Income/ Expense(1) | Yield/ Rate(1) | |||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||
| Loans held for investment | $ | 19,172,292 | $ | 907,903 | 6.33% | $ | 16,743,048 | $ | 816,241 | 6.52% | ||||||||||
| Loans held for sale | 210,267 | 9,188 | 5.83% | 260,172 | 12,322 | 6.32% | ||||||||||||||
| Taxable securities | 3,448,380 | 89,564 | 3.46% | 2,749,580 | 62,995 | 3.05% | ||||||||||||||
| Tax-exempt securities | 444,278 | 16,225 | 4.87% | 384,212 | 9,680 | 3.36% | ||||||||||||||
| Total securities | 3,892,658 | 105,789 | 3.62% | 3,133,792 | 72,675 | 3.09% | ||||||||||||||
| Interest-bearing balances with banks | 659,385 | 17,695 | 3.59% | 846,844 | 25,792 | 4.07% | ||||||||||||||
| Total interest-earning assets | 23,934,602 | 1,040,575 | 5.81% | 20,983,856 | 927,030 | 5.90% | ||||||||||||||
| Cash and due from banks | 265,958 | 282,476 | ||||||||||||||||||
| Intangible assets | 1,548,927 | 1,392,393 | ||||||||||||||||||
| Other assets | 1,169,591 | 915,322 | ||||||||||||||||||
| Total assets | $ | 26,919,078 | $ | 23,574,047 | ||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||
Interest-bearing demand(2) | $ | 11,556,200 | $ | 215,045 | 2.49% | $ | 10,196,332 | $ | 213,332 | 2.80% | ||||||||||
| Savings deposits | 1,299,042 | 2,798 | 0.29% | 1,146,732 | 2,686 | 0.31% | ||||||||||||||
| Time deposits | 3,751,960 | 99,437 | 3.54% | 3,095,753 | 90,862 | 3.92% | ||||||||||||||
| Total interest-bearing deposits | 16,607,202 | 317,280 | 2.55% | 14,438,817 | 306,880 | 2.84% | ||||||||||||||
| Borrowed funds | 1,077,117 | 38,613 | 4.79% | 853,071 | 31,870 | 4.99% | ||||||||||||||
| Total interest-bearing liabilities | 17,684,319 | 355,893 | 2.69% | 15,291,888 | 338,750 | 2.96% | ||||||||||||||
| Noninterest-bearing deposits | 5,061,957 | 4,629,790 | ||||||||||||||||||
| Other liabilities | 299,227 | 237,417 | ||||||||||||||||||
| Shareholders’ equity | 3,873,575 | 3,414,952 | ||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 26,919,078 | $ | 23,574,047 | ||||||||||||||||
| Net interest income/ net interest margin (FTE) | $ | 684,682 | 3.82% | $ | 588,280 | 3.75% | ||||||||||||||
| Cost of funding | 2.09% | 2.27% | ||||||||||||||||||
| Cost of total deposits | 1.96% | 2.15% | ||||||||||||||||||
(1) 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%.
(2) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.
8
Loan Portfolio
| (Dollars in thousands) | As of | ||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||
| Loan Portfolio: | |||||||||||||||||
| Real estate - 1-4 family mortgage | $ | 4,632,718 | $ | 4,568,039 | $ | 4,584,118 | $ | 4,635,033 | $ | 4,642,657 | |||||||
| Construction and Land Development | 2,112,023 | 2,009,664 | 1,898,629 | 1,905,636 | 1,990,657 | ||||||||||||
| Commercial Real Estate - Non-Owner Occupied | 6,373,047 | 6,123,500 | 6,135,543 | 6,245,480 | 6,120,677 | ||||||||||||
| Commercial Real Estate - Owner Occupied | 3,388,836 | 3,332,728 | 3,357,965 | 3,334,664 | 3,321,186 | ||||||||||||
| Commercial and Industrial | 3,150,897 | 3,063,069 | 2,895,477 | 2,818,326 | 2,834,669 | ||||||||||||
| Consumer | 94,598 | 99,172 | 103,516 | 107,900 | 115,675 | ||||||||||||
| Total loans | $ | 19,752,119 | $ | 19,196,172 | $ | 18,975,248 | $ | 19,047,039 | $ | 19,025,521 | |||||||
Credit Quality and Allowance for Credit Losses on Loans
| (Dollars in thousands) | As of | ||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | |||||||||||||
| Nonperforming Assets: | |||||||||||||||||
| Nonaccruing loans | $ | 175,143 | $ | 186,432 | $ | 197,515 | $ | 175,730 | $ | 170,756 | |||||||
| Loans 90 days or more past due | 315 | 51 | 2,779 | 288 | 792 | ||||||||||||
| Total nonperforming loans | 175,458 | 186,483 | 200,294 | 176,018 | 171,548 | ||||||||||||
| Other real estate owned | 15,662 | 15,571 | 12,954 | 15,191 | 10,578 | ||||||||||||
| Total nonperforming assets | $ | 191,120 | $ | 202,054 | $ | 213,248 | $ | 191,209 | $ | 182,126 | |||||||
| Criticized Loans | |||||||||||||||||
| Classified loans | $ | 337,674 | $ | 336,816 | $ | 349,068 | $ | 359,235 | $ | 392,721 | |||||||
| Special Mention loans | 155,835 | 173,401 | 176,345 | 201,428 | 219,792 | ||||||||||||
| Criticized loans | $ | 493,509 | $ | 510,217 | $ | 525,413 | $ | 560,663 | $ | 612,513 | |||||||
| Allowance for credit losses on loans | $ | 296,094 | $ | 296,008 | $ | 295,862 | $ | 293,955 | $ | 297,591 | |||||||
| Net loan charge-offs | $ | 10,019 | $ | 2,770 | $ | 2,317 | $ | 9,109 | $ | 4,339 | |||||||
| Annualized net loan charge-offs / average loans | 0.20 | % | 0.06 | % | 0.05 | % | 0.19 | % | 0.09 | % | |||||||
| Nonperforming loans / total loans | 0.89 | 0.97 | 1.06 | 0.92 | 0.90 | ||||||||||||
| Nonperforming assets / total assets | 0.69 | 0.75 | 0.79 | 0.71 | 0.68 | ||||||||||||
| Allowance for credit losses on loans / total loans | 1.50 | 1.54 | 1.56 | 1.54 | 1.56 | ||||||||||||
| Allowance for credit losses on loans / nonperforming loans | 168.75 | 158.73 | 147.71 | 167.00 | 173.47 | ||||||||||||
| Criticized loans / total loans | 2.50 | 2.66 | 2.77 | 2.94 | 3.22 | ||||||||||||
9
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 28, 2026.
The webcast is accessible through Renasant’s investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=bTGfmpSS. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2026 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 1-855-669-9658 in the United States and entering conference number 2791840 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until November 11, 2026.
ABOUT RENASANT CORPORATION:
Renasant Corporation is the parent of Renasant Bank, a 122-year-old financial services institution. Renasant has assets of approximately $27.5 billion and operates 278 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,” or 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 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; (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) the Company’s ability to remediate the material weakness in its internal control over financial reporting identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on March 2, 2026; (vi) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vii) the financial resources of, and products available from, competitors; (viii) changes in laws and regulations as well as changes in accounting standards; (ix) 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); (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;
10
(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) losses resulting from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting the Company’s customers, employees and third party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including as a result of sophisticated attacks using artificial intelligence (“AI”) and similar tools; (xxi) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxii) 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; (xxiii) the impact, extent and timing of technological changes, including the rapid development of AI technologies; and (xxiv) 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 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, 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.
None of the non-GAAP financial information that the Company has included in this release or the accompanying presentation slides is 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.
11
Non-GAAP Reconciliations
| (Dollars in thousands, except per share data) | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||
Adjusted Pre-Provision Net Revenue (“PPNR”) | ||||||||||||||||||||||||||
| Net income (GAAP) | $ | 78,949 | $ | 87,091 | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 254,268 | $ | 102,324 | ||||||||||||
| Income taxes | 20,376 | 21,553 | 22,195 | 17,885 | 15,478 | 64,124 | 27,575 | |||||||||||||||||||
| Provision for credit losses (including unfunded commitments) | 13,305 | 3,799 | 8,080 | 10,935 | 10,450 | 25,184 | 96,522 | |||||||||||||||||||
| Pre-provision net revenue (non-GAAP) | $ | 112,630 | $ | 112,443 | $ | 118,503 | $ | 107,768 | $ | 85,716 | $ | 343,576 | $ | 226,421 | ||||||||||||
| Merger and conversion related expenses | — | — | — | 10,567 | 17,494 | — | 38,764 | |||||||||||||||||||
| Gain on sales of MSR | — | — | (209) | — | — | (209) | (1,467) | |||||||||||||||||||
| Adjusted pre-provision net revenue (non-GAAP) | $ | 112,630 | $ | 112,443 | $ | 118,294 | $ | 118,335 | $ | 103,210 | $ | 343,367 | $ | 263,718 | ||||||||||||
| Adjusted Net Income and Adjusted Tangible Net Income | ||||||||||||||||||||||||||
| Net income (GAAP) | $ | 78,949 | $ | 87,091 | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 254,268 | $ | 102,324 | ||||||||||||
| Amortization of intangibles | 8,332 | 8,370 | 8,220 | 8,465 | 8,674 | 24,922 | 18,638 | |||||||||||||||||||
Tax effect of adjustments noted above(1) | (2,075) | (2,084) | (2,047) | (2,112) | (2,164) | (6,206) | (4,641) | |||||||||||||||||||
| Tangible net income (non-GAAP) | $ | 85,206 | $ | 93,377 | $ | 94,401 | $ | 85,301 | $ | 66,298 | $ | 272,984 | $ | 116,321 | ||||||||||||
| Net income (GAAP) | $ | 78,949 | $ | 87,091 | $ | 88,228 | $ | 78,948 | $ | 59,788 | $ | 254,268 | $ | 102,324 | ||||||||||||
| Merger and conversion related expenses | — | — | — | 10,567 | 17,494 | — | 38,764 | |||||||||||||||||||
| Day 1 acquisition provision for loan losses | — | — | — | — | — | — | 62,190 | |||||||||||||||||||
| Day 1 acquisition provision for unfunded commitments | — | — | — | — | — | — | 4,422 | |||||||||||||||||||
| Gain on sales of MSR | — | — | (209) | — | — | (209) | (1,467) | |||||||||||||||||||
Tax effect of adjustments noted above(1) | — | — | 52 | (2,636) | (4,365) | 52 | (25,424) | |||||||||||||||||||
| Adjusted net income (non-GAAP) | $ | 78,949 | $ | 87,091 | $ | 88,071 | $ | 86,879 | $ | 72,917 | $ | 254,111 | $ | 180,809 | ||||||||||||
| Amortization of intangibles | 8,332 | 8,370 | 8,220 | 8,465 | 8,674 | 24,922 | 18,638 | |||||||||||||||||||
Tax effect of adjustments noted above(1) | (2,075) | (2,084) | (2,047) | (2,112) | (2,164) | (6,206) | (4,641) | |||||||||||||||||||
| Adjusted tangible net income (non-GAAP) | $ | 85,206 | $ | 93,377 | $ | 94,244 | $ | 93,232 | $ | 79,427 | $ | 272,827 | $ | 194,806 | ||||||||||||
Tangible Assets and Tangible Shareholders’ Equity | ||||||||||||||||||||||||||
Average shareholders’ equity (GAAP) | $ | 3,880,631 | $ | 3,851,601 | $ | 3,888,581 | $ | 3,849,791 | $ | 3,794,996 | $ | 3,873,575 | $ | 3,414,952 | ||||||||||||
| Average intangible assets | (1,551,577) | (1,546,924) | (1,548,244) | (1,563,189) | (1,578,846) | (1,548,927) | (1,392,393) | |||||||||||||||||||
Average tangible shareholders’ equity (non-GAAP) | $ | 2,329,054 | $ | 2,304,677 | $ | 2,340,337 | $ | 2,286,602 | $ | 2,216,150 | $ | 2,324,648 | $ | 2,022,559 | ||||||||||||
| Average assets (GAAP) | $ | 27,098,900 | $ | 26,800,293 | $ | 26,855,360 | $ | 26,693,539 | $ | 26,456,596 | $ | 26,919,078 | $ | 23,574,047 | ||||||||||||
| Average intangible assets | (1,551,577) | (1,546,924) | (1,548,244) | (1,563,189) | (1,578,846) | (1,548,927) | (1,392,393) | |||||||||||||||||||
| Average tangible assets (non-GAAP) | $ | 25,547,323 | $ | 25,253,369 | $ | 25,307,116 | $ | 25,130,350 | $ | 24,877,750 | $ | 25,370,151 | $ | 22,181,654 | ||||||||||||
Shareholders’ equity (GAAP) | $ | 3,832,100 | $ | 3,871,378 | $ | 3,866,918 | $ | 3,884,905 | $ | 3,825,778 | $ | 3,832,100 | $ | 3,825,778 | ||||||||||||
| Intangible assets | (1,547,228) | (1,555,560) | (1,545,059) | (1,552,452) | (1,566,788) | (1,547,228) | (1,566,788) | |||||||||||||||||||
Tangible shareholders’ equity (non-GAAP) | $ | 2,284,872 | $ | 2,315,818 | $ | 2,321,859 | $ | 2,332,453 | $ | 2,258,990 | $ | 2,284,872 | $ | 2,258,990 | ||||||||||||
| Total assets (GAAP) | $ | 27,518,181 | $ | 27,004,999 | $ | 27,107,274 | $ | 26,751,426 | $ | 26,726,165 | $ | 27,518,181 | $ | 26,726,165 | ||||||||||||
| Intangible assets | (1,547,228) | (1,555,560) | (1,545,059) | (1,552,452) | (1,566,788) | (1,547,228) | (1,566,788) | |||||||||||||||||||
| Total tangible assets (non-GAAP) | $ | 25,970,953 | $ | 25,449,439 | $ | 25,562,215 | $ | 25,198,974 | $ | 25,159,377 | $ | 25,970,953 | $ | 25,159,377 | ||||||||||||
12
| Adjusted Performance Ratios | ||||||||||||||||||||||||||
| Return on average assets (GAAP) | 1.16 | % | 1.30 | % | 1.33 | % | 1.17 | % | 0.90 | % | 1.26 | % | 0.58 | % | ||||||||||||
| Adjusted return on average assets (non-GAAP) | 1.16 | 1.30 | 1.33 | 1.29 | 1.09 | 1.26 | 1.03 | |||||||||||||||||||
| Return on average tangible assets (non-GAAP) | 1.32 | 1.48 | 1.51 | 1.35 | 1.06 | 1.44 | 0.70 | |||||||||||||||||||
| Pre-provision net revenue to average assets (non-GAAP) | 1.65 | 1.68 | 1.79 | 1.60 | 1.29 | 1.71 | 1.28 | |||||||||||||||||||
| Adjusted pre-provision net revenue to average assets (non-GAAP) | 1.65 | 1.68 | 1.79 | 1.76 | 1.55 | 1.71 | 1.50 | |||||||||||||||||||
| Adjusted return on average tangible assets (non-GAAP) | 1.32 | 1.48 | 1.51 | 1.47 | 1.27 | 1.44 | 1.17 | |||||||||||||||||||
| Return on average equity (GAAP) | 8.07 | 9.07 | 9.20 | 8.14 | 6.25 | 8.78 | 4.01 | |||||||||||||||||||
| Adjusted return on average equity (non-GAAP) | 8.07 | 9.07 | 9.19 | 8.95 | 7.62 | 8.77 | 7.08 | |||||||||||||||||||
| Return on average tangible equity (non-GAAP) | 14.51 | 16.25 | 16.36 | 14.80 | 11.87 | 15.70 | 7.69 | |||||||||||||||||||
| Adjusted return on average tangible equity (non-GAAP) | 14.51 | 16.25 | 16.33 | 16.18 | 14.22 | 15.69 | 12.88 | |||||||||||||||||||
| Adjusted Diluted Earnings Per Share | ||||||||||||||||||||||||||
| Average diluted shares outstanding | 91,557,082 | 92,220,282 | 94,228,343 | 95,172,380 | 95,284,603 | 92,661,200 | 84,934,390 | |||||||||||||||||||
| Diluted earnings per share (GAAP) | $ | 0.86 | $ | 0.94 | $ | 0.94 | $ | 0.83 | $ | 0.63 | $ | 2.74 | $ | 1.20 | ||||||||||||
| Adjusted diluted earnings per share (non-GAAP) | $ | 0.86 | $ | 0.94 | $ | 0.93 | $ | 0.91 | $ | 0.77 | $ | 2.74 | $ | 2.13 | ||||||||||||
| Tangible Book Value Per Share | ||||||||||||||||||||||||||
| Shares outstanding | 90,356,578 | 91,403,230 | 92,881,329 | 94,636,207 | 95,020,881 | 90,356,578 | 95,020,881 | |||||||||||||||||||
| Book value per share (GAAP) | $ | 42.41 | $ | 42.35 | $ | 41.63 | $ | 41.05 | $ | 40.26 | $ | 42.41 | $ | 40.26 | ||||||||||||
| Tangible book value per share (non-GAAP) | $ | 25.29 | $ | 25.34 | $ | 25.00 | $ | 24.65 | $ | 23.77 | $ | 25.29 | $ | 23.77 | ||||||||||||
| Tangible Common Equity Ratio | ||||||||||||||||||||||||||
| Shareholders’ equity to assets (GAAP) | 13.93 | % | 14.34 | % | 14.27 | % | 14.52 | % | 14.31 | % | 13.93 | % | 14.31 | % | ||||||||||||
| Tangible common equity ratio (non-GAAP) | 8.80 | % | 9.10 | % | 9.08 | % | 9.26 | % | 8.98 | % | 8.80 | % | 8.98 | % | ||||||||||||
| Adjusted Efficiency Ratio | ||||||||||||||||||||||||||
| Net interest income (FTE) (GAAP) | $ | 228,601 | $ | 227,657 | $ | 228,424 | $ | 232,361 | $ | 228,131 | $ | 684,682 | $ | 588,280 | ||||||||||||
| Total noninterest income (GAAP) | $ | 49,275 | $ | 51,190 | $ | 50,272 | $ | 51,125 | $ | 46,026 | $ | 150,737 | $ | 130,755 | ||||||||||||
| Gain on sales of MSR | — | — | (209) | — | — | (209) | (1,467) | |||||||||||||||||||
| Total adjusted noninterest income (non-GAAP) | $ | 49,275 | $ | 51,190 | $ | 50,063 | $ | 51,125 | $ | 46,026 | $ | 150,528 | $ | 129,288 | ||||||||||||
| Noninterest expense (GAAP) | $ | 160,334 | $ | 161,501 | $ | 155,328 | $ | 170,750 | $ | 183,830 | $ | 477,163 | $ | 480,910 | ||||||||||||
| Amortization of intangibles | (8,332) | (8,370) | (8,220) | (8,465) | (8,674) | — | (24,922) | (18,638) | ||||||||||||||||||
| Merger and conversion expense | — | — | — | (10,567) | (17,494) | — | (38,764) | |||||||||||||||||||
| Total adjusted noninterest expense (non-GAAP) | $ | 152,002 | $ | 153,131 | $ | 147,108 | $ | 151,718 | $ | 157,662 | $ | 452,241 | $ | 423,508 | ||||||||||||
| Efficiency ratio (GAAP) | 57.70 | % | 57.92 | % | 55.73 | % | 60.23 | % | 67.05 | % | 57.12 | % | 66.88 | % | ||||||||||||
| Adjusted efficiency ratio (non-GAAP) | 54.70 | % | 54.92 | % | 52.82 | % | 53.52 | % | 57.51 | % | 54.15 | % | 59.02 | % | ||||||||||||
13
| Adjusted Net Interest Income and Adjusted Net Interest Margin | ||||||||||||||||||||||||||
| Net interest income (FTE) (GAAP) | $ | 228,601 | $ | 227,657 | $ | 228,424 | $ | 232,361 | $ | 228,131 | $ | 684,682 | $ | 588,280 | ||||||||||||
| Net interest income collected on problem loans | (841) | (1,166) | (210) | (2,767) | (664) | (2,217) | (4,469) | |||||||||||||||||||
| Accretion recognized on purchased loans | (10,481) | (12,327) | (15,248) | (13,632) | (16,862) | (38,056) | (35,254) | |||||||||||||||||||
| Amortization recognized on purchased time deposits | — | — | — | — | 2,995 | — | 7,391 | |||||||||||||||||||
| Amortization recognized on purchased long term borrowings | 336 | 336 | 336 | 335 | 837 | 1,008 | 1,909 | |||||||||||||||||||
| Adjustments to net interest income | $ | (10,986) | $ | (13,157) | $ | (15,122) | $ | (16,064) | $ | (13,694) | $ | (39,265) | $ | (30,423) | ||||||||||||
| Adjusted net interest income (FTE) (non-GAAP) | $ | 217,615 | $ | 214,500 | $ | 213,302 | $ | 216,297 | $ | 214,437 | $ | 645,417 | $ | 557,857 | ||||||||||||
| Net interest margin (FTE) (GAAP) | 3.77 | % | 3.83 | % | 3.87 | % | 3.89 | % | 3.85 | % | 3.82 | % | 3.75 | % | ||||||||||||
| Adjusted net interest margin (FTE) (non-GAAP) | 3.58 | % | 3.61 | % | 3.61 | % | 3.62 | % | 3.62 | % | 3.60 | % | 3.55 | % | ||||||||||||
| Adjusted Loan Yield | ||||||||||||||||||||||||||
| Loan interest income (FTE) (GAAP) | $ | 308,666 | $ | 300,112 | $ | 299,125 | $ | 309,667 | $ | 311,903 | $ | 907,903 | $ | 816,241 | ||||||||||||
| Net interest income collected on problem loans | (841) | (1,166) | (210) | (2,767) | (664) | (2,217) | (4,469) | |||||||||||||||||||
| Accretion recognized on purchased loans | (10,481) | (12,327) | (15,248) | (13,632) | (16,862) | (38,056) | (35,254) | |||||||||||||||||||
| Adjusted loan interest income (FTE) (non-GAAP) | $ | 297,344 | $ | 286,619 | $ | 283,667 | $ | 293,268 | $ | 294,377 | $ | 867,630 | $ | 776,518 | ||||||||||||
| Loan yield (GAAP) | 6.31 | % | 6.31 | % | 6.37 | % | 6.45 | % | 6.60 | % | 6.33 | % | 6.52 | % | ||||||||||||
| Adjusted loan yield (non-GAAP) | 6.08 | % | 6.03 | % | 6.04 | % | 6.11 | % | 6.23 | % | 6.05 | % | 6.20 | % | ||||||||||||
(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.
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14
Third Quarter 2026 Earnings Call
Forward-Looking Statements This presentation may contain various statements about Renasant Corporation (“Renasant,” the “Company,” “we,” “our,” or “us”) 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,” or 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 our future financial performance, business strategy, projected plans and objectives and are based on the current beliefs and expectations of management. We believe 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 our control. In addition, these forward-looking statements are subject to assumptions about future business strategies and decisions that are subject to change. Actual results may differ from those indicated or implied in the forward-looking statements; 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. 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 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; (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) our ability to remediate the material weakness in the Company’s internal control over financial reporting identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on March 2, 2026; (vi) competitive pressures in the consumer finance, commercial finance, financial services, asset management, retail banking, factoring and mortgage lending and auto lending industries; (vii) the financial resources of, and products available from, competitors; (viii) changes in laws and regulations as well as changes in accounting standards; (ix) 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); (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) losses resulting from fraudulent activity, including loan and deposit fraud and social engineering attacks targeting our customers, employees and third party vendors; (xx) increased cybersecurity risk, including potential network breaches, business disruptions or financial losses, including as a result of sophisticated attacks using artificial intelligence (“AI”) and similar tools; (xxi) civil unrest, natural disasters, epidemics and other catastrophic events in the Company’s geographic area; (xxii) 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; (xxiii) the impact, extent and timing of technological changes, including the rapid development of AI technologies; and (xxiv) other circumstances, many of which are beyond management’s control. Management believes that the assumptions underlying our 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 Renasant’s filings with 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. We undertake no obligation, and specifically disclaim any obligation, to update or revise our 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. 2
Loans TN 12% MS 25% AL 23% FL 10% LA 5% GA 25% Deposits TN 8% MS 39% AL 14% FL 8% LA 3% GA 28% * Overview * Republic Business Credit operates on a nationwide basis. Locations in California, Illinois and Texas are not shown. Snapshot Footprint Loans and Deposits by State(1) Note: As of September 30, 2026 (1) As determined by the office or branch of origination 3 Assets: $27.5 billion Loans: 19.8 Deposits: 21.6 Equity: 3.8
Third Quarter Highlights • Net income was $78.9 million, with both diluted EPS and adjusted diluted EPS (non-GAAP)(1) of $0.86 • Net interest margin was 3.77%, down 6 basis points linked quarter; adjusted net interest margin (non-GAAP)(1) was 3.58%, down 3 basis points linked quarter • Loans increased $555.9 million linked quarter, or 11.5% annualized • Deposits decreased $73.2 million linked quarter. Outflows in public fund deposits of $214.7 million were offset by growth in consumer and commercial deposits. Noninterest bearing deposits represented 23.1% of total deposits at September 30, 2026 • Short-term borrowings increased $491.3 million linked quarter • Loan yield was flat at 6.31%; adjusted loan yield (non-GAAP)(1) increased 5 basis points linked quarter to 6.08% • Cost of total deposits increased 1 basis point linked quarter to 1.97% • The ratio of the allowance for credit losses on loans to total loans decreased 4 basis points to 1.50% linked quarter • Net loan charge-offs for the third quarter of 2026 were $10.0 million, or 0.20% annualized, primarily attributable to one credit • Nonperforming loans represented 0.89% of total loans, a decrease of 8 basis points linked quarter, and criticized loans to total loans decreased 16 basis points to 2.50% linked quarter • During the third quarter of 2026, the Company repurchased $42.6 million of common stock at a weighted average price of $41.05 (1) Adjusted diluted EPS, Adjusted net interest margin, Adjusted loan yield, Adjusted ROAA, ROATCE, Adjusted ROATCE and Adjusted efficiency ratio are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 4 Net Income $78.9 million Diluted EPS 0.86 Adjusted Diluted EPS (non-GAAP)(1) 0.86 Net Interest Margin 3.77% Adjusted Net Interest Margin (non- GAAP)(1) 3.58 Return on Average Assets (“ROAA”) 1.16 Adjusted ROAA (non-GAAP)(1) 1.16 Return on Average Tangible Equity (“ROATCE”) (non-GAAP)(1) 14.51 Adjusted ROATCE (non-GAAP)(1) 14.51 Efficiency Ratio 57.70 Adjusted Efficiency Ratio (non-GAAP)(1) 54.70
$26,726 $26,751 $27,107 $27,005 $27,518 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $19,026 $19,047 $18,975 $19,196 $19,752 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $21,425 $21,473 $22,099 $21,701 $21,628 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $3,826 $3,885 $3,867 $3,871 $3,832 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Balance Sheet Assets ($mm) Loans ($mm) Deposits ($mm) Equity ($mm) 5
(1) Includes money market deposits (2) Excludes time deposits and public fund deposits Composition ($000s) Quarter Highlights $21,627,858 $21,701,052 $22,099,484 $21,473,070 $21,424,555 Noninterest-bearing Interest-bearing Savings Time 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Deposit Funding • Deposits declined $73.2 million in 3Q 2026 primarily due to the outflow of public fund deposits of $214.7 million, offset by growth in consumer and commercial deposits • Noninterest-bearing deposits: 23.1% of total deposits • Average deposit account balance: $35,847 • Average commercial account balance: $87,468(2) • Average consumer account balance: $14,445(2) • Top 20 depositors: 3.9% of total deposits(2) Customer Mix 45% 45% 44% 44% 44% 38% 38% 37% 38% 39% 17% 17% 19% 18% 17% Consumer Commercial Public Funds 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2.14% 1.97% 1.94% 1.96% 1.97% 2.83% 2.60% 2.54% 2.55% 2.57% Total cost of deposits Cost of total interest-bearing deposits 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Cost of Deposits 6 (1)
Cash and Securities to Total Assets Loans to Deposits Average Interest Earning Asset Mix (3Q 2026) 17.4% 17.4% 18.6% 17.4% 16.5% 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 89% 89% 86% 88% 91% 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 81% 1% 16% 2% Loans Held for Investment Loans Held for Sale Securities Interest Bearing Balances With Banks Liquidity Position 7
14.31% 14.52% 14.27% 14.34% 13.93% 8.98% 9.26% 9.08% 9.10% 8.80% Shareholders' equity to assets Tangible common equity ratio (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 11.04% 11.24% 11.22% 11.06% 10.92% 14.88% 14.78% 14.77% 15.94% 15.52% Common equity tier 1 capital ratio Total risk-based capital ratio 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Quarter Highlights • During the third quarter of 2026, the Company repurchased $42.6 million of common stock at a weighted average price of $41.05 • Effective October 27, 2026, the Company’s Board of Directors approved a $175.0 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 2027 or the repurchase of the entire amount authorized under the plan, replaces the Company’s stock repurchase program that expired October 2026 • The Company redeemed $40.0 million in subordinated notes on September 1, 2026 (1) Tangible Common Equity Ratio and Tangible Book Value are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. $40.26 $41.05 $41.63 $42.35 $42.41 $23.77 $24.65 $25.00 $25.34 $25.29 Book Value Tangible Book Value (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Capital Position Equity to Assets / Tangible Common Equity Ratio (non-GAAP)(1) Common Equity Tier 1 Ratio / Total Risk-based Capital Ratio Book Value / Tangible Book Value (non-GAAP)(1) 8 (1) (1)
QoQ Loans HFI Bridge ($mm) $19,196 $65 $102 $250 $56 $88 $(5) $19,752 Q 2 2026 RE-1-4 Fam ily C&LD NO O CRE O O CRE C&I Consum er Q 3 2026 Quarter Highlights • Loans increased $555.9 million linked quarter. The increase was driven by strong production during the quarter and lower payoff activity on a linked quarter basis • Average loan balance: $342,111 23% 11% 32% 17% 16% 1% Real estate - 1-4 Family Mortgage Construction and Land Development Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Owner Occupied Commercial and Industrial Consumer Loan Composition 9
$950 $914 $609 $957 $1,205 $757 $806 $827 $901 $835 Production Advances 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $587 $876 $813 $895 $790 $657 $706 $695 $742 $694 Payoffs Paydowns 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $19,196 $1,205 $835 $(790) $(694) $19,752 2Q 2026 Production Advances Payoffs Paydowns 3Q 2026 Loan Activity QoQ Loan Bridge ($mm) Production & Advance Trends ($mm) Payoff & Paydown Trends ($mm) 10
$297,591 $293,955 $295,862 $296,008 $296,094 1.56% 1.54% 1.56% 1.54% 1.50% 0.09% 0.19% 0.05% 0.06% 0.20% ACL ACL / Loans Net Charge-offs / Average Loans 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $612,513 $560,663 $525,413 $510,217 $493,509 3.22% 2.94% 2.77% 2.66% 2.50% Criticized Loans Criticized Loans / Total Loans 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Asset Quality Criticized Loans ($000s)Allowance for Credit Losses & Net Charge-offs ($000s) 0.26% 0.47% 0.36% 0.16% 0.19% Loans 30-89 Past Due / Total Loans 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Accruing Loans 30-89 Days Past DueQuarter Highlights • Average NPL balance: $299,416 • 98% of accruing criticized loans are current • Average criticized loan balance: $481,943 • Net charge-offs of 20 bps were primarily concentrated in a single credit, accounting for 16 bps of the total 11
0.68% 0.71% 0.79% 0.75% 0.69% 0.90% 0.92% 1.06% 0.97% 0.89% NPAs / Total Assets NPLs / Total Loans 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $61,784 $8,795 $45,907 $20,384 $38,455 $133 Real Estate 1-4 Family Mortgage Construction and Land Development Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Owner-Occupied Commercial and Industrial Consumer NPLs by Loan Category ($000s) Asset Quality (cont.) Nonperforming Loans & Nonperforming Assets $171,548 $176,018 $200,294 $186,483 $175,458 173% 167% 148% 159% 169% Nonperforming Loans ACL / Nonperforming Loans 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Nonperforming Loans ($000s) 12
$0.63 $0.83 $0.94 $0.94 $0.86 $0.77 $0.91 $0.93 $0.94 $0.86 Diluted EPS (GAAP) Adjusted Diluted EPS (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $228.1 $232.4 $228.4 $227.7 $228.6$214.4 $216.3 $213.3 $214.5 $217.6 Net interest income (FTE) Adjusted net interest income (FTE) (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Note: Dollars in millions except per share amounts. (1) Adjusted Diluted EPS, Adjusted Net Income, Adjusted Net Interest Income (FTE), PPNR and Adjusted PPNR are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. $85.7 $107.8 $118.5 $112.4 $112.6 $103.2 $118.3 $118.3 $112.4 $112.6 PPNR (non-GAAP) Adjusted PPNR (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $59.8 $78.9 $88.2 $87.1 $78.9 $72.9 $86.9 $88.1 $87.1 $78.9 Net Income Adjusted Net Income (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Profitability Diluted EPS / Adjusted Diluted EPS (non-GAAP)(1) Net Income / Adjusted Net Income (non-GAAP)(1) PPNR (non-GAAP)(1) / Adjusted PPNR (Non-GAAP)(1)Net Interest Income (FTE) / Adjusted Net Interest Income (FTE) (Non-GAAP)(1) 13 (1) (1) (1) (1) (1)
(1) Adjusted ROAA, Adjusted ROTCE, PPNR/Average Assets and Adjusted PPNR/Average Assets are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 0.90% 1.17% 1.33% 1.30% 1.16% 1.09% 1.29% 1.33% 1.30% 1.16% ROAA (GAAP) ROAA (Adjusted) (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 6.25% 8.14% 9.20% 9.07% 8.07% 14.22% 16.18% 16.33% 16.25% 14.51% ROAE (GAAP) ROTCE (Adjusted) (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 1.29% 1.60% 1.79% 1.68% 1.65% 1.55% 1.76% 1.79% 1.68% 1.65% PPNR/Average Assets (non-GAAP) Adjusted PPNR/Average Assets (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Profitability Ratios ROAA / Adjusted ROAA (non-GAAP)(1) ROAE / Adjusted ROTCE (non-GAAP)(1) PPNR (non-GAAP)(1) / Adjusted PPNR Ratios (non-GAAP)(1) 14 (1) (1) (1) (1)
3.85% 3.89% 3.87% 3.83% 3.77% 3.62% 3.62% 3.61% 3.61% 3.58% Net Interest Margin Adjusted Net Interest Margin (FTE) (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 (1) Adjusted Net Interest Margin (FTE) and Adjusted Loan Yield are non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 6.60% 6.45% 6.37% 6.31% 6.31% 6.23% 6.11% 6.04% 6.03% 6.08% Loan yield Adjusted Loan Yield (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 • Scheduled accretion and accelerated accretion recognized on acquired loans were $9.0 million and $1.5 million, respectively, for the third quarter of 2026, which included scheduled credit accretion and accelerated credit accretion of $2.8 million and $0.6 million, respectively • Accelerated bond discount accretion contributed $2.7 million to net interest income in the second quarter (4 bps). Excluding this, adjusted net interest margin increased 2 bps linked quarter Net Interest Margin (FTE) and Loan Yield Net Interest Margin (FTE) / Adjusted Net Interest Margin (FTE) (non-GAAP)(1) Loan Yield / Adjusted Loan Yield (non-GAAP)(1) Adjusted Net Interest Margin (FTE) (non-GAAP)(1) Bridge Accretion 3.61% 0.06 (0.04) (0.05) 3.58% 2Q2026 Loans Other Earning Assets IB Liabilities 3Q2026 15 (1) (1)
• Noninterest income decreased $1.9 million linked quarter, primarily reflecting lower mortgage banking income due to higher mortgage interest rates, lower production and market value adjustments on loans held for sales in process $49,275 $51,190 $50,272 $51,125 $46,026 Service charges Fees and commissions Wealth management Mortgage banking BOLI Other 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Noninterest Income Composition ($000s) Quarter Highlights 16
• Noninterest expense decreased $1.2 million linked quarter, driven primarily by a decline in deferred compensation expense tied to market valuations and an increase in deferred loan costs driven by loan growth, offset by higher health insurance claims Quarter Highlights 57.51% 53.52% 52.82% 54.92% 54.70% 67.05% 60.23% 55.73% 57.92% 57.70% Efficiency Ratio Adjusted efficiency ratio (non-GAAP) 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 $160,334 $161,501 $155,328 $170,750 $183,830 Salaries and employee benefits Data processing Net occupancy and equipment Advertising and public relations Merger and conversion expenses Intangible amortization Other 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Noninterest Expense Efficiency Ratio Composition ($000s) (1) Adjusted Efficiency Ratio is a non-GAAP financial measure. A reconciliation of GAAP to non-GAAP financial measures is included in the earnings release furnished to the SEC on the same Form 8-K as this presentation under the heading “Non-GAAP Reconciliations”. 17 (1)
Appendix
(Dollars in millions) Repricing Term(1) Rate Structure Total Loans 3 mos or less 3-12 mos 1-3 years 3-5 years 5-15 years Over 15 years Total Variable Fixed Commercial and Industrial $ 2,122 $ 153 $ 318 $ 393 $ 163 $ 2 $ 3,151 $ 2,099 $ 1,052 Commercial Real Estate - Owner-Occupied 1,353 223 542 832 406 33 3,389 1,480 1,909 Commercial Real Estate - Non-Owner Occupied 3,678 569 918 847 349 12 6,373 3,798 2,575 Construction and Land Development 1,602 71 65 248 74 52 2,112 1,622 490 Real Estate 1-4 Family Mortgage 1,056 304 428 616 762 1,467 4,633 2,585 2,048 Consumer 26 17 28 17 6 — 94 16 78 Total $ 9,837 $ 1,337 $ 2,299 $ 2,953 $ 1,760 $ 1,566 $ 19,752 $ 11,600 $ 8,152 Weighted Average Rate - Fixed 5.2 % 5.0 % 6.0 % 6.1 % 4.8 % 5.5 % 5.6 % Weighted Average Rate - Variable 6.7 % 6.0 % 5.5 % 5.7 % 5.5 % 4.9 % 6.4 % % Fixed 5.0 % 72.9 % 83.2 % 82.7 % 69.1 % 70.9 % 41.3 % % Variable 95.0 % 27.1 % 16.8 % 17.3 % 30.9 % 29.1 % 58.7 % Note: As of September 30, 2026 (1) Based on maturity date for fixed rate loans and variable rate loans that are at their floor or ceiling Loan Repricing and Maturity 19
Note: As of September 30, 2026 Agency CMO 28% Agency MBS 35% Municipal 14% Agency CMBS 14% SBA 8% Other 1% • Amortized cost of $4.0 billion; GAAP value of $3.8 billion, which represents 13.8% of total assets • Duration of 4.0 years • 24% of portfolio HTM based on par value ◦ 10.9% of HTM are CRA investments ◦ 28.6% of HTM are Municipals • Unrealized losses in AOCI on securities totaled $232.1 million ($174.1 million, net of tax); unrealized losses in AOCI on HTM securities totaled $46.3 million ($34.6 million, net of tax) $4.0 Billion Securities Composition (Amortized Cost) Quarter Highlights 20
16% 22% 20% 9% 7% 7% 12% 4% 3% Warehouse/Industrial Retail Multi-family Self Storage Medical Office Office (non-medical) Hotel Senior Housing Other Quarter Highlights Note: As of September 30, 2026; LTV is calculated using the most recent appraisal available. (1) Based on commitment amount (2) Includes reserves for both loans evaluated collectively and those individually evaluated (Dollars in millions) Retail Multi-Family Warehouse/ Industrial Amount $1,421.7 $1,250.2 $1,054.6 Avg Loan Size(1) $1.6 $2.5 $2.6 Percent of Loans 7.2% 6.3% 5.3% Past Due or Nonaccrual 0.16% 0.08% 0.71% ACL Reserve(2) 0.70% 1.55% 0.34% WA LTV 55.8% 54.4% 54.2% Loans <75% LTV 88.6% 93.5% 94.7% Percent in Footprint 96.8% 99.8% 91.2% Q3 Loan Growth 3.7% 7.7% 10.7% Commercial Real Estate - Non-owner Occupied $6.4 Billion Composition 32.3% $2.1 million 55.4% 0.10% 0.72% % of Loans Avg Loan Size(1) WA LTV 30-89 Days NPLs(2) 21
Note: As of September 30, 2026; LTV is calculated using the most recent appraisal available. (1) Based on commitment amount (2) Includes reserves for both loans evaluated collectively and those individually evaluated 19% 24% 8% 16% 4% 10% 5% 9% 3% 1%1% 1-4 Family Land & Dev. Commercial Owner-Occupied Multi-family Office Retail Self Storage Warehouse / Industrial Hotels Other Senior Housing Amount ($mm) $2,112.0 Avg Loan Size ($mm)(1) $1.3 Percent of Loans 10.7% Past Due or Nonaccrual 0.43% ACL Reserve(2) 2.14% WA LTV 64.7% Loans <75% LTV 80.8% Percent in Footprint 95.7% Q3 Loan Growth 5.1% Construction and Land Development $2.1 Billion Composition Quarter Highlights 22
Quarterly ACL Changes $296,008 $6,830 $(1,669) $(1,434) $(165) $(3,476) $296,094 2Q 2026 Balance Changes Q-Factor Changes Loss Rates Loan Credit Migration Other Individually Evaluated 3Q 2026 Note: Dollars in thousands (1) Net Charge-offs are included in Other Individually Evaluated 23 (1)
3Q 2025 2Q 2026 3Q 2026 Gain on sales of loans, net $ 5,270 $ 4,760 $ 2,390 Fees, net 3,050 3,470 2,945 Mortgage servicing income, net 697 948 1,988 Mortgage banking income, net $ 9,017 $ 9,178 $ 7,323 3Q 2025 2Q 2026 3Q 2026 Wholesale 39 32 32 Retail 61 68 68 Purchase 77 79 77 Refinance 23 21 23 $590.2 $489.5 $542.3 $611.6 $520.6 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 (1) Gain on sale margin excludes pipeline fair value adjustments and buyback reserve activity included in “Gain on sales of loans, net” in the table above 1.32% 1.99% 1.85% 1.57% 1.75% 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Mortgage Banking Mortgage Banking Income ($000s) Mix (%) Locked Volume ($mm) Gain on Sale Margin(1) 24
