Renasant Corporation Announces Earnings for the First Quarter of 2026 and an Increase in Its Quarterly Dividend

Renasant Corporation (NYSE: RNST) (the “Company”) today announced earnings results for the first quarter of 2026. The Company also announced today that the Company’s Board of Directors has approved a quarterly cash dividend of $0.24 per share to be paid June 30, 2026, to shareholders of record as of June 16, 2026. This represents a $0.01 increase in the Company’s quarterly dividend. “Two years ago, we challenged ourselves by setting aspirational goals to improve the financial performance of Renasant. The strong financial results for the first quarter exceeded the goals we set for ourselves and reflect the strong performance of our team. We are also pleased to announce our second dividend increase within the last six months,” remarked Kevin D. Chapman, President and Chief Executive Officer of the Company. “We believe we are well positioned to build upon this success in future quarters as our team remains focused on growing customer relationships and hiring talent throughout our Southeastern markets.” Quarterly Highlights Performance Metrics Return on assets was 1.33% for the first quarter of 2026, up from 0.94% in the first quarter of 2025Return on average equity for the first quarter of 2026 was 9.20%, up from 6.25% in the first quarter of 2025Return on average tangible common equity (non-GAAP)(1) was 16.36% for the first quarter of 2026, up from 10.16% in the first quarter of 2025Our efficiency ratio improved to 55.73% for the first quarter of 2026, down from 65.51% in the first quarter of 2025, and the adjusted efficiency ratio (non-GAAP)(1) improved to 52.82% for the first quarter of 2026, down from 64.43% in the first quarter of 2025 Earnings Net income for the first quarter of 2026 was $88.2 million; diluted EPS and adjusted diluted EPS (non-GAAP)(1) were $0.94 and $0.93, respectivelyNet interest income (fully tax equivalent) for the first quarter of 2026 was $228.4 million, down $3.9 million linked quarterFor the first quarter of 2026, net interest margin was 3.87%, down 2 basis points linked quarter. Adjusted net interest margin (non-GAAP)(1) was 3.61%, down 1 basis point linked quarterCost of total deposits was 1.94% for the first quarter of 2026, down 3 basis points linked quarterNoninterest income decreased $0.9 million linked quarterMortgage banking income increased $0.5 million linked quarter. The mortgage division generated $542.3 million in interest rate lock volume in the first quarter of 2026, up $52.8 million linked quarter. Gain on sale margin was 1.85% for the first quarter of 2026, down 14 basis points linked quarterNoninterest expense decreased $15.4 million linked quarter, which includes a $10.6 million decrease in merger and conversion related expenses. The Company continued to realize cost savings from the integration with The First Bancshares, Inc. in the first quarter of 2026 Balance Sheet Loans decreased $71.8 million linked quarter, representing a 1.5% annualized net loan decreaseSecurities increased $225.3 million linked quarter. The Company purchased $379.0 million in securities during the first quarter which was offset by a negative fair market value adjustment in the Company’s available-for-sale portfolio of $15.9 million and cash flows related to principal payments, calls and maturities of $141.5 millionDeposits at March 31, 2026 increased $626.4 million linked quarter. Seasonal increases in public fund deposits contributed $380.4 million to the overall increase. Noninterest bearing deposits increased $139.5 million linked quarter and represented 23.5% of total deposits at March 31, 2026 Capital and Stock Repurchase Program Book value per share and tangible book value per share (non-GAAP)(1) both increased 1.4% linked quarterDuring the first quarter of 2026, the Company repurchased $75.0 million of common stock at a weighted average price of $39.53. In April, an additional $25.0 million has been repurchased at a weighted average price of $38.36Effective April 28, 2026, the Company’s Board of Directors increased the amount authorized for repurchase under the Company’s stock repurchase program by $100.0 million. This plan, under which the Company is authorized to repurchase outstanding shares of its common stock either in open market purchases or privately negotiated transactions, will remain in effect until the earlier of October 2026 or the repurchase of the entire amount authorized under the plan. With this increase, as of April 28, 2026, approximately $136.8 million in repurchase authorization remains available under the program. Credit Quality The Company recorded a provision for credit losses on loans and unfunded commitments of $4.2 million and $3.9 million, respectively for the first quarter of 2026, representing a decrease of $1.2 million and $1.6 million, respectively, linked quarterThe ratio of the allowance for credit losses on loans to total loans was 1.56% at March 31, 2026, up 2 basis points linked quarterThe coverage ratio, or the allowance for credit losses on loans to nonperforming loans, was 147.71% at March 31, 2026, compared to 167.00% at December 31, 2025Net loan charge-offs for the first quarter of 2026 were $2.3 million, or 0.05% annualized, down $6.8 million linked quarterNonperforming loans to total loans increased to 1.06% at March 31, 2026 compared to 0.92% at December 31, 2025, and criticized loans (which include classified and Special Mention loans) to total loans decreased to 2.77% at March 31, 2026, compared to 2.94% at December 31, 2025 (1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures. Income Statement (1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures. Performance Ratios Capital and Balance Sheet Ratios (1) This is a non-GAAP financial measure. A reconciliation of all non-GAAP financial measures disclosed in this release from GAAP to non-GAAP is included in the tables at the end of this release. The information below under the heading “Non-GAAP Financial Measures” explains why the Company believes the non-GAAP financial measures in this release provide useful information and describes the other purposes for which the Company uses non-GAAP financial measures. (2) Preliminary Noninterest Income and Noninterest Expense Mortgage Banking Income (1) Gain on sales of loans, net includes pipeline fair value adjustments Balance Sheet Net Interest Income and Net Interest Margin (1) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits. Loan Portfolio Credit Quality and Allowance for Credit Losses on Loans 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, April 29, 2026. The webcast is accessible through Renasant’s investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=SgFaqN4L. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2026 First 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 8054019 or by dialing 1-412-317-0088 internationally and entering the same conference number. Telephone replay access is available until May 13, 2026.... Read more

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