Renasant Corporation Reports Q4 2024 Earnings, Plans Merger Completion

Renasant Corporation reported a net income of $44.7 million for the fourth quarter of 2024, with a diluted EPS of $0.70 and adjusted diluted EPS of $0.73. The company experienced a slight increase in net interest income to $135.5 million, while noninterest income saw a decline attributed to a prior gain from the sale of an insurance agency. CEO C. Mitchell Waycaster highlighted the successful year for Renasant, marked by a transformative merger with The First Bancshares, Inc. Additionally, the company demonstrated improved credit quality with a decrease in nonperforming loans. Despite the challenges, Renasant maintained steady credit performance and disciplined pricing strategies across its operations. The merger and conversion expenses significantly decreased compared to the previous quarter, indicating effective cost management during the integration process.