RNSTHIGH SIGNALFINANCIAL10-K

Renasant Corporation completed a transformative merger with The First Bancshares in April 2025, substantially expanding its balance sheet and increasing outstanding shares by nearly 50%.

The merger represents a major strategic expansion for Renasant, creating a significantly larger regional banking franchise with enhanced scale and market presence across the Southeast. The transaction appears to have been executed successfully with proportional growth across key balance sheet metrics, though investors should monitor integration costs and operational synergies in subsequent quarters.

Comparing 2026-03-02 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

The acquisition of The First Bancshares drove substantial growth across all major financial metrics, with total assets expanding to $26.8 billion and deposits growing meaningfully to $21.5 billion. Net interest income grew notably to $1.3 billion, reflecting the enlarged earning asset base. The balance sheet expansion appears well-structured, with stockholders' equity increasing proportionally and debt levels rising modestly, suggesting the transaction was funded primarily through equity rather than excessive leverage.

FINANCIAL STATEMENT CHANGES
Total Liabilities
Balance Sheet
+48.9%
$15.4B$22.9B

Liabilities grew 48.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Total Assets
Balance Sheet
+48.3%
$18.0B$26.8B

Asset base grew 48.3% — expansion through organic growth, acquisitions, or capital deployment.

Total Deposits
Balance Sheet
+47.4%
$14.6B$21.5B

Deposits grew 47.4% — expanding customer base or increased trust in the institution.

Dividends Paid
Cash Flow
+46.3%
$53.7M$78.6M

Dividend payments increased 46.3% — management confidence in sustained cash generation.

Stockholders Equity
Balance Sheet
+45.1%
$2.7B$3.9B

Equity base grew 45.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Interest Income
P&L
+42.2%
$887.8M$1.3B

Net interest income grew 42.2% — benefiting from rate environment or loan book expansion.

Total Debt
Balance Sheet
+16.1%
$430.6M$499.8M

Debt rose 16.1% — additional borrowing for investment or operations; monitor coverage ratios.

LANGUAGE CHANGES
NEW — 2026-03-02
PRIOR — 2025-02-26
ADDED
As of February 20, 2026, 94,142,307 shares of the registrant s common stock, par value $5.00 per share, were outstanding.
The information set forth in this Annual Report on Form 10-K is as of February 27, 2026 unless otherwise indicated herein.
BUSINESS General Renasant Corporation, a Mississippi corporation incorporated in 1982.
It owns and operates Renasant Bank, a Mississippi banking corporation with operations throughout the Southeast, and also owns and operates Park Place Capital Corporation, a Tennessee corporation and registered investment advisor with operations across our footprint.
Renasant Bank, in turn, owns and operates Continental Republic Capital, LLC (doing business as Republic Business Credit ), a Louisiana limited liability company offering factoring and asset-based lending on a nationwide basis, while Park Place Capital Corporation, in turn, owns and operates Park Place Capital Securities Corporation, a Delaware corporation and registered broker-dealer.
Effective April 1, 2025, the Company completed its acquisition by merger of The First Bancshares, Inc., a Mississippi corporation, pursuant to which, The First merged with and into the Company, with the Company as the surviving entity in the merger, and immediately thereafter The First s subsidiary bank merged with and into the Bank, with the Bank as the surviving entity in the merger.
At merger, each outstanding share of common stock of The First converted into the right to receive one share of common stock of the Company.
Upon completion of the merger, Southwest Georgia Insurance Services, Inc., a Georgia corporation, became a subsidiary of Renasant Bank and engaged in the insurance agency business until Renasant Bank s sale of substantially all of its assets on December 31, 2025.
Operations The Company has two reportable segments: a Community Banks segment and a Wealth Management segment.
The Company no longer has an Insurance segment as a result of the sale of the Company s insurance agency businesses in July 2024 and December 2025 as discussed above.
REMOVED
As of February 18, 2025, 63,657,444 shares of the registrant s common stock, par value $5.00 per share, were outstanding.
including the rapid development of artificial intelligence; and other circumstances, many of which are beyond management s control.
The information set forth in this Annual Report on Form 10-K is as of February 25, 2025 unless otherwise indicated herein.
BUSINESS General Renasant Corporation, a Mississippi corporation incorporated in 1982, owns and operates Renasant Bank, a Mississippi banking corporation with operations throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis.
Renasant Bank, in turn, owns and operates Park Place Capital Corporation, a Tennessee corporation with operations across our footprint, and Continental Republic Capital, LLC (doing business as Republic Business Credit ), a Louisiana limited liability company with nationwide operations.
Members of our Board of Directors also serve as members of the Board of Directors of the Bank (which has a broader membership than the Company board).
Responsibility for the management of the Bank remains with the Board of Directors and officers of the Bank; however, management services rendered by the Company to the Bank are intended to supplement internal management and expand the scope of banking services normally offered by the Bank.
Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each outstanding share of common stock of The First will be converted into the right to receive one share of common stock of the Company.
The shareholders of the Company and The First approved the merger at special meetings held on October 22, 2024.
The transaction is expected to close in the first half of 2025 and is subject to certain closing conditions, including the receipt of required regulatory approvals.
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