Renasant : First Quarter 2026 Investor Presentation (5685fe)

Published: 2026-05-18 10:38:08 ET RNST

Published on 05/18/2026 at 10:38 am EDT

Snapshot

Footprint

Loans and Deposits by State(1)

Loans Deposits

26%

11%

25%

12%

22%

28%

40%

14%

LA LA

4% 3%

Note: As of March 31, 2026

(1) As determined by the office or branch of origination

* Republic Business Credit operates on a nationwide basis. Locations in California, Illinois and Texas are not shown.

Overview

Net Income

$88.2 million

Diluted EPS

0.94

Adjusted Diluted EPS (non-GAAP)(1)

0.93

Net Interest Margin

3.87%

Adjusted Net Interest Margin (non-GAAP)(1)

3.61

Return on Average Assets ("ROAA")

1.33

Adjusted ROAA (non-GAAP)(1)

1.33

Return on Average Tangible Common Equity ("ROATCE") (non-GGAP)(1)

16.36

Adjusted ROATCE (non-GAAP)(1)

16.33

Efficiency Ratio

55.73

Adjusted Efficiency Ratio (non-GAAP)(1)

52.82

Net income was $88.2 million with diluted EPS of $0.94 and adjusted diluted EPS (non-GAAP)(1) of $0.93

Net interest margin was 3.87%, down 2 basis points linked quarter; adjusted net interest margin (non-GAAP)(1) decreased 1 basis point linked quarter to 3.61%

Return on assets was 1.33% for the first quarter of 2026, up from 0.94% in the first quarter of 2025

Return on average equity for the first quarter of 2026 was 9.20%, up from 6.25% in the first quarter of 2025; return 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 2025

Loans decreased $71.8 million, or 1.5% annualized

Deposits 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; noninterest-bearing deposits represented 23.5% of total deposits at March 31, 2026

Loan yield decreased 8 basis points; adjusted loan yield (non-GAAP)(1) decreased 7 basis points

Cost of total deposits decreased 3 basis points to 1.94%

The ratio of the allowance for credit losses on loans to total loans increased 2 basis points to 1.56% linked quarter

Net loan charge-offs for the first quarter of 2026 were $2.3 million or 0.05% annualized, down $6.8 million linked quarter

Nonperforming loans represented 1.06% of total loans, an increase of 14 basis points, and criticized loans to total loans decreased 17 basis points to 2.77% linked quarter

(1) Adjusted diluted EPS, Adjusted net interest margin, Adjusted loan yield, Adjusted ROAA, ROATCE (including on an adjusted basis) and Adjusted efficiency ratio are non-GAAP financial measures. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of exclusions and a reconciliation of these non-GAAP financial measures to GAAP.

First Quarter Highlights

Assets ($mm)

Loans ($mm)

$26,625 $26,726 $26,751 $27,107

$18,563 $19,026 $19,047 $18,975

$18,271

$13,056

$14,772

1Q 2025

2Q 2025

3Q 2025

4Q 2025

1Q 2026

1Q 2025

2Q 2025

3Q 2025

4Q 2025

1Q 2026

Deposits ($mm)

Equity ($mm)

$21,583 $21,425 $21,473 $22,099

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

$3,779 $3,826 $3,885 $3,867

$2,727

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Balance Sheet

Composition ($000s)

Customer Mix

1Q 2026

4Q 2025

3Q 2025

2Q 2025

1Q 2025

$14,772,095

$22,099,484

$21,473,070

$21,424,555

$21,582,637

1Q 2026

44%

37%

19%

44%

38%

18%

4Q 2025

44%

39%

17%

3Q 2025

50%

31%

19%

2Q 2025

48%

35%

17%

1Q 2025

Cost of Deposits

Quarter Highlights

2.60%

2.54%

2.89% 2.82% 2.83%

1.97%

1.94%

2.22% 2.12% 2.14%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Includes money market deposits

Excludes time deposits and public fund deposits

Deposit growth of $626.4 million in 1Q 2026 represents 11.5% annualized growth

Noninterest-bearing deposits: 23.5% of total deposits

Average deposit account balance: ~$38,000

Commercial average account balance: ~$89,000(2)

Consumer average account balance: ~$15,000(2)

Top 20 depositors: 4.7% of total deposits(2)

Deposit Funding

Cash and Securities to Total Assets

Loans to Deposits

18.5%

18.6%

17.5%

17.4%

88%

86%

89%

86%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Average Interest Earning Asset Mix (1Q 2026)

Liquidity Sources

16%

80%

Internal Sources: ($ in millions)

Cash & Cash Equivalents $1.2

Unencumbered Securities 1.7

External Sources:

FHLB Borrowing Capacity(1) 5.5

Federal Reserve Discount Window 0.7

Total: $13.7

Other(2) 4.6

Does not include loans participated to REITs that could be moved to Renasant Bank and pledged for additional capacity.

Includes untapped brokered CDs (per internal policy limits) and unsecured lines of credit. 7

Liquidity Position

Equity to Assets / Tangible Common Equity Ratio (non-GAAP)(1)

Common Equity Tier 1 Ratio / Total Risk-based Capital Ratio

14.93% 14.19% 14.31% 14.52% 14.27%

16.89%

9.99%

8.77%

8.98%

9.26%

9.08%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Tangible common equity ratio (non-GAAP)(1)

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

14.97%

14.88%

12.59%

11.08%

11.04%

14.78% 14.77%

11.24% 11.22%

Book Value / Tangible Book Value (non-GAAP)(1)

Quarter Highlights

$27.07

$23.10

$23.77

$24.65

$25.00

$42.79 $39.77 $40.26 $41.05 $41.63

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

During 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 was repurchased at a weighted average price of $38.36

Effective April 28, 2026, the Company's Board of Directors 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 from the dividend paid in the previous quarter

Effective 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

On May 7, 2026 the Company completed a subordinated debt offering, issuing $300.0 million aggregate principal amount of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036

Tangible Common Equity Ratio and Tangible Book Value are non-GAAP financial measures. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of the exclusions and a reconciliation

of these non-GAAP financial measures to GAAP. 8

Capital Position

Quarter Highlights

QoQ Loans HFI Bridge ($mm)

Loans decreased $71.8 million linked quarter

Average loan balance: ~$317,000

$19,047

$77

$18,975

$(51)

$(7)

$(4)

$23

$(110)

15%

24%

18%

10%

32%

Q1 2026

Consumer

C&I

OO CRE

NOO CRE

C&LD

RE-1-4 Family

Q4 2025

Loan Composition

QoQ Loan Bridge ($mm)

Production & Advance Trends ($mm)

$827

$950 $914

$609

$(813)

$19,047

$18,975

$805

$730

$757

$806

$827

$645

$551

$609

$(695)

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Payoff & Paydown Trends ($mm)

$876

$813

$657

$557

1Q 2026

Payoffs

4Q 2025

$468

$567

$587

$657 $706 $695

Paydowns

Advances

Production

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Loan Activity

Quarter Highlights

Loans 30-89 Days Past Due

Over the last four quarters, the Company resolved $135 million in non-performing loans with aggregate net charge-offs of $27.8 million

Average NPL balance: $348,337

96% of accruing criticized loans are current

0.31% 0.25% 0.26%

0.47%

0.36%

Average criticized loan balance: $512,098

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Allowance for Credit Losses & Net Charge-offs ($000s)

Criticized Loans ($000s)

2.94%

2.77%

2.45%

2.66%

$612,513

$320,432

$493,557

$525,413

$560,663

$290,770 $297,591 $293,955 $295,862

3.22%

$203,931

1.56%

1.57%

1.56%

1.54%

1.56%

0.26%

0.09%

0.19%

0.05%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

ACL

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Asset Quality

Nonperforming Loans & Nonperforming Assets

NPLs by Loan Category

0.76% 0.76%

0.90% 0.92%

1.06%

Real Estate 1-4 Family

Mortgage

$61,311

0.59% 0.58%

0.68% 0.71% 0.79%

Construction and Land

Development

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Nonperforming Loans ($000s)

173%

167%

148%

207% 205%

Commercial Real Estate -Non-Owner Occupied

Commercial Real Estate -

Owner-Occupied

$171,548

$176,018

$200,294

$141,859

$98,733

Commercial and Industrial

Consumer

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

$12,323

$49,930

$29,433

$47,093

$204

Asset Quality (cont.)

Diluted EPS / Adjusted Diluted EPS (non-GAAP)(1)

Net Income / Adjusted Net Income (non-GAAP)(1)

$0.77

$0.83

$0.65

$0.66

$0.69

$0.63

$0.01

$0.91

$0.94

$0.93

$86.9

$88.2

$88.1

$65.9

$72.9

$78.9

$59.8

$41.5 $42.1

$1.0

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Net Interest Income (FTE) / Adjusted Net Interest Income (FTE) (Non-GAAP)(1)

PPNR (non-GAAP)* / Adjusted PPNR (Non-GAAP)(1)

$222.7

$228.1

$232.4

$228.4

$207.6

$214.4

$216.3

$213.3

$137.4 $135.8

$118.3 $118.5 $118.3

$103.0

$103.2

$107.8

$84.0

$85.7

$56.7 $57.5

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 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. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of the exclusions and a reconciliation of these non-GAAP financial measures to GAAP.

Profitability

ROAA / Adjusted ROAA (non-GAAP)(1)

ROAE / Adjusted ROTCE (non-GAAP)(1)

13.50%

14.22%

10.30%

6.25%

8.14%

9.20%

6.25%

0.11%

16.18% 16.33%

1.29% 1.33%

1.01%

1.09%

1.33%

1.17%

0.94%

0.90%

0.02%

0.95%

PPNR (non-GAAP)(1) / Adjusted PPNR Ratios (non-GAAP)(1)

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 ROAA (GAAP)

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

1.76% 1.79%

(1) Adjusted ROAA, Adjusted ROTCE, PPNR/Average Assets and Adjusted PPNR/Average Assets are non-GAAP financial measures. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of the exclusions and a reconciliation of these non-GAAP financial measures to GAAP.

1.58%

1.55%

1.79%

1.30%

1.60%

1.28% 1.29% 1.29%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

PPNR/Average Assets (non-GAAP)(1)

Profitability Ratios

Net Interest Margin (FTE) / Adjusted Net Interest Margin (FTE) (non-GAAP)(1)

Loan Yield / Adjusted Loan Yield (non-GAAP)(1)

3.45%

3.58%

3.62%

3.61%

3.85% 3.85% 3.89% 3.87%

6.24%

6.63% 6.60%

6.45% 6.37%

3.42%

6.19% 6.18% 6.23%

6.11% 6.04%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Adjusted Net Interest Margin (FTE) (non-GAAP)(1) Bridge

Accretion

3.62

0.05 3.61

Scheduled accretion and accelerated accretion recognized on acquired loans were $11.2 million and $4.0 million, respectively, for the first quarter of 2026, which included scheduled credit accretion and accelerated credit accretion of

0.02

(0.08)

$4.0 million and $1.5 million, respectively

4Q2025 Loans Other Earning Assets

IB Liabilities 1Q2026

(1) Adjusted Net Interest Margin (FTE) and Adjusted Loan Yield are non-GAAP financial measures. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of the exclusions and a reconciliation of these non-GAAP

financial measures to GAAP. 15

Net Interest Margin (FTE) and Loan Yield

Composition ($000s)

Quarter Highlights

1Q 2026

4Q 2025

3Q 2025

2Q 2025

1Q 2025

$36,395

$50,272

$51,125

$46,026

$48,334

Noninterest income decreased $0.8 million linked quarter

The decline in noninterest income is primarily related to Q4 2025 results being impacted by a one-time gain of $2.0 million resulting from the exit of low-income housing tax credit partnerships. The absence of this gain in Q1 2026 results was partially offset by strong performance on SBA loan sales

Record Wealth Management AUM of $7.2 billion as of March 31, 2026

Noninterest Income / Operating Revenue

18.1%

17.1%

18.4%

21.3%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

Noninterest Income

Composition ($000)

Quarter Highlights

1Q 2026

4Q 2025

3Q 2025

2Q 2025

1Q 2025

$113,876

$155,328

$170,750

$183,830

$183,204

Noninterest expense decreased $15.4 million linked quarter, which includes a decrease of $10.6 million in merger and conversion expenses linked quarter

The Company continued to realize cost savings from the integration with The First

Efficiency Ratio

60.23%

64.43%

55.73%

57.07% 57.51%

53.52%

52.82%

65.51% 67.59% 67.05%

1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026

(1) Adjusted Efficiency Ratio is a non-GAAP financial measure. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of the exclusions and a reconciliation of this non-GAAP financial measure to GAAP.

Noninterest Expense

Revenue Growth

Expense Management

$278,487

$269,584

$153,841

$147,108

2Q 2025 1Q 2026 2Q 2025 1Q 2026

3.3% increase in adjusted net revenue since Q2 2025

4.4% reduction in adjusted noninterest expense since Q2 2025

Note: Dollars in thousands

(1) Adjusted Net Revenue and Adjusted noninterest expense are non-GAAP financial measures. See "Reconciliation of Non-GAAP Disclosures" in the appendix for a description of the exclusions and a reconciliation of these non-

GAAP financial measures to GAAP. 18

Efficiency Improvements

Rate Structure

Repricing Term(1)

(Dollars in millions)

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

$ 1,814

$ 213

$ 300

$ 367

$ 200

$ 2

$ 2,896

$ 1,860 $

1,036

Commercial Real Estate - Owner-Occupied

1,284

211

589

736

504

3,358

1,430

1,927

Commercial Real Estate - Non-Owner Occupied

3,481

416

1,060

822

348

6,136

3,624

2,512

Construction and Land Development

1,396

185

106

1,898

1,470

429

Real Estate 1-4 Family Mortgage

1,016

257

484

545

843

1,439

4,584

2,614

1,970

Consumer

103

Total

$ 9,020

$ 1,184

$ 2,551

$ 2,676

$ 2,007

$ 1,537

$ 18,975

$ 11,016 $

7,959

Weighted Average Rate - Fixed Weighted Average Rate - Variable

5.3 %

6.5 %

5.0 %

6.1 %

5.7 %

5.4 %

6.2 %

5.7 %

4.6 %

5.5 %

4.8 %

5.5 %

6.3 %

% Fixed

5.1 %

72.5 %

83.5 %

81.2 %

65.6 %

66.7 %

41.9 %

% Variable

94.9 %

27.5 %

16.5 %

18.8 %

34.4 %

33.3 %

58.1 %

(1) Based on maturity date for fixed rate loans and variable rate loans that are at their floor or ceiling

Loan Repricing and Maturity

Disclaimer

Renasant Corporation published this content on May 18, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 18, 2026 at 14:37 UTC.