RENASANT CORP 10-Q

Item 1. FINANCIAL STATEMENTS Renasant Corporation and Subsidiaries Consolidated Balance Sheets (In Thousands, Except Share Data) (Unaudited) September 30, 2025 December 31, 2024 Assets Cash and due from banks $ 284,485 $ 198,408 Interest-bearing balances with banks 799,300 893,624 Cash and cash equivalents 1,083,785 1,092,032 Securities held to maturity (fair value of $ 976,690 and $ 1,002,544 , respectively) 1,051,884 1,126,112 Securities available for sale, at fair value (amortized cost of $ 2,599,397 and $ 968,927 , respectively) 2,512,650 831,013 Loans held for sale, at fair value 286,779 246,171 Loans held for investment, net of unearned income 19,025,521 12,885,020 Allowance for credit losses on loans ( 297,591 ) ( 201,756 ) Loans, net 18,727,930 12,683,264 Premises and equipment, net 471,213 279,796 Other real estate owned, net 10,578 8,673 Goodwill 1,411,711 988,898 Other intangible assets, net 155,077 14,105 Bank-owned life insurance 488,920 391,810 Mortgage servicing rights, net 65,466 72,991 Other assets 460,172 300,003 Total assets $ 26,726,165 $ 18,034,868 Liabilities and shareholders’ equity Liabilities Deposits Noninterest-bearing $ 5,238,431 $ 3,403,981 Interest-bearing 16,186,124 11,168,631 Total deposits 21,424,555 14,572,612 Short-term borrowings 606,063 108,018 Long-term debt 558,878 430,614 Other liabilities 310,891 245,306 Total liabilities 22,900,387 15,356,550 Shareholders’ equity Preferred stock, $ 0.01 par value – 5,000,000 shares authorized; no shares issued and outstanding — — Common stock, $ 5.00 par value – 250,000,000 and 150,000,000 shares authorized, respectively; 97,722,397 and 66,484,225 shares issued, respectively; 95,020,881 and 63,565,690 shares outstanding, respectively 488,612 332,421 Treasury stock, at cost – 2,701,516 and 2,918,535 shares, respectively ( 90,297 ) ( 97,196 ) Additional paid-in capital 2,389,033 1,491,847 Retained earnings 1,139,600 1,093,854 Accumulated other comprehensive loss, net of taxes ( 101,170 ) ( 142,608 ) Total shareholders’ equity 3,825,778 2,678,318 Total liabilities and shareholders’ equity $ 26,726,165 $ 18,034,868 See Notes to Consolidated Financial Statements. 1 Table of Contents Renasant Corporation and Subsidiaries Consolidated Statements of Income (Unaudited) (In Thousands, Except Share Data) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Interest income Loans $ 312,785 $ 206,867 $ 818,792 $ 603,492 Securities Taxable 27,108 9,212 62,996 27,975 Tax-exempt 3,109 1,092 7,746 3,439 Other 8,096 11,872 25,792 27,527 Total interest income 351,098 229,043 915,326 662,433 Interest expense Deposits 115,573 90,787 306,880 261,021 Borrowings 12,005 7,258 31,870 22,098 Total interest expense 127,578 98,045 338,750 283,119 Net interest income 223,520 130,998 576,576 379,314 Provision for credit losses on loans 9,650 1,210 87,100 8,148 Provision for (recovery of) credit losses on unfunded commitments 800 ( 275 ) 9,422 ( 1,475 ) Provision for credit losses 10,450 935 96,522 6,673 Net interest income after provision for credit losses 213,070 130,063 480,054 372,641 Noninterest income Service charges on deposit accounts 13,416 10,438 37,398 31,230 Fees and commissions 4,167 4,116 14,604 12,009 Insurance commissions — — — 5,474 Wealth management revenue 8,217 5,835 22,629 17,188 Mortgage banking income 9,017 8,447 28,427 29,515 Gain on sale of insurance agency — 53,349 — 53,349 Gain on debt extinguishment — — — 56 BOLI income 4,235 2,858 10,547 8,250 Other 6,974 4,256 17,150 12,371 Total noninterest income 46,026 89,299 130,755 169,442 Noninterest expense Salaries and employee benefits 98,982 71,307 270,481 213,508 Data processing 5,541 4,133 15,068 11,885 Net occupancy and equipment 18,415 11,415 47,528 34,648 Other real estate owned 328 56 1,170 268 Professional fees 3,435 3,189 10,542 9,732 Advertising and public relations 5,254 3,677 14,041 12,370 Intangible amortization 8,674 1,160 18,638 3,558 Communications 3,955 2,176 9,172 6,312 Merger and conversion related expenses 17,494 11,273 38,764 11,273 Other 21,752 13,597 55,506 43,317 Total noninterest expense 183,830 121,983 480,910 346,871 Income before income taxes 75,266 97,379 129,899 195,212 Income taxes 15,478 24,924 27,575 44,502 Net income $ 59,788 $ 72,455 $ 102,324 $ 150,710 Basic earnings per share $ 0.63 $ 1.18 $ 1.21 $ 2.60 Diluted earnings per share $ 0.63 $ 1.18 $ 1.20 $ 2.59 See Notes to Consolidated Financial Statements. 2 Table of Contents Renasant Corporation and Subsidiaries Consolidated Statements of Comprehensive Income (Unaudited) (In Thousands) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net income $ 59,788 $ 72,455 $ 102,324 $ 150,710 Other comprehensive income, net of tax: Securities available for sale: Unrealized holding gains on securities 11,585 23,441 38,313 19,275 Amortization of unrealized holding losses on securities transferred to the held to maturity category 2,237 2,331 6,615 7,190 Total securities available for sale 13,822 25,772 44,928 26,465 Derivative instruments: Unrealized holding losses on derivative instruments ( 1,026 ) ( 828 ) ( 3,713 ) ( 1,539 ) Total derivative instruments ( 1,026 ) ( 828 ) ( 3,713 ) ( 1,539 ) Defined benefit pension and post-retirement benefit plans: Amortization of net actuarial loss recognized in net periodic pension cost 75 78 223 236 Total defined benefit pension and post-retirement benefit plans 75 78 223 236 Other comprehensive income, net of tax 12,871 25,022 41,438 25,162 Comprehensive income $ 72,659 $ 97,477 $ 143,762 $ 175,872 See Notes to Consolidated Financial Statements. 3 Table of Contents Renasant Corporation and Subsidiaries Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) (In Thousands, Except Share Data) Common Stock Treasury Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total Nine Months Ended September 30, 2025 Shares Amount Balance at January 1, 2025 63,565,690 $ 332,421 $ ( 97,196 ) $ 1,491,847 $ 1,093,854 $ ( 142,608 ) $ 2,678,318 Net income — — — — 41,518 — 41,518 Other comprehensive income — — — — — 20,987 20,987 Comprehensive income 62,505 Cash dividends ($ 0.22 per share) — — — — ( 14,270 ) — ( 14,270 ) Issuance of common stock for stock-based compensation awards 173,777 — 5,550 ( 8,778 ) — — ( 3,228 ) Stock-based compensation expense — — — 3,780 — — 3,780 Balance at March 31, 2025 63,739,467 $ 332,421 $ ( 91,646 ) $ 1,486,849 $ 1,121,102 $ ( 121,621 ) $ 2,727,105 Net income — $ — $ — $ — $ 1,018 $ — $ 1,018 Other comprehensive income — — — — — 7,580 7,580 Comprehensive income 8,598 Cash dividends ($ 0.22 per share) — — — — ( 21,155 ) — ( 21,155 ) Common stock issued in connection with an acquisition 31,238,172 156,191 — 903,720 — — 1,059,911 Issuance of common stock for stock-based compensation awards 41,672 — 1,398 ( 1,307 ) — — 91 Stock-based compensation expense — — — 4,304 — — 4,304 Balance at June 30, 2025 95,019,311 $ 488,612 $ ( 90,248 ) $ 2,393,566 $ 1,100,965 $ ( 114,041 ) $ 3,778,854 Net income — — — — $ 59,788 — $ 59,788 Other comprehensive income — — — — — 12,871 12,871 Comprehensive income 72,659 Cash dividends ($ 0.22 per share) — — — — ( 21,153 ) — ( 21,153 ) Measurement period adjustment related to common stock issued in connection with an acquisition — — — ( 9,090 ) — — ( 9,090 ) Issuance of common stock for stock-based compensation awards 1,570 — ( 49 ) ( 886 ) — — ( 935 ) Stock-based compensation expense — — — 5,443 — — 5,443 Balance at September 30, 2025 95,020,881 $ 488,612 $ ( 90,297 ) $ 2,389,033 $ 1,139,600 $ ( 101,170 ) $ 3,825,778 4 Table of Contents Common Stock Treasury Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total Nine Months Ended September 30, 2024 Shares Amount Balance at January 1, 2024 56,142,207 $ 296,483 $ ( 105,249 ) $ 1,308,281 $ 952,124 $ ( 154,256 ) $ 2,297,383 Net income — — — — 39,409 — 39,409 Other comprehensive loss — — — — — ( 2,687 ) ( 2,687 ) Comprehensive income 36,722 Cash dividends ($ 0.22 per share) — — — — ( 12,653 ) — ( 12,653 ) Issuance of common stock for stock-based compensation awards 162,653 — 5,566 ( 8,660 ) — — ( 3,094 ) Stock-based compensation expense — — — 3,992 — — 3,992 Balance at March 31, 2024 56,304,860 $ 296,483 $ ( 99,683 ) $ 1,303,613 $ 978,880 $ ( 156,943 ) $ 2,322,350 Net income — $ — $ — $ — $ 38,846 $ — $ 38,846 Other comprehensive income — — — — — 2,827 2,827 Comprehensive income 41,673 Cash dividends ($ 0.22 per share) — — — — ( 12,640 ) — ( 12,640 ) Issuance of common stock for stock-based compensation awards 63,064 — 2,149 ( 2,205 ) — — ( 56 ) Stock-based compensation expense — — — 3,374 — — 3,374 Balance at June 30, 2024 56,367,924 $ 296,483 $ ( 97,534 ) $ 1,304,782 $ 1,005,086 $ ( 154,116 ) $ 2,354,701 Net income — — — — $ 72,455 — $ 72,455 Other comprehensive income — — — — — 25,022 25,022 Comprehensive income 97,477 Cash dividends ($ 0.22 per share) — — — — ( 14,217 ) — ( 14,217 ) Common stock issued in public offering 7,187,500 35,938 — 181,062 — — 217,000 Issuance of common stock for stock-based compensation awards 8,604 — 283 ( 439 ) — — ( 156 ) Stock-based compensation expense — — — 3,273 — — 3,273 Balance at September 30, 2024 63,564,028 $ 332,421 $ ( 97,251 ) $ 1,488,678 $ 1,063,324 $ ( 129,094 ) $ 2,658,078 See Notes to Consolidated Financial Statements. 5 Table of Contents Renasant Corporation and Subsidiaries Consolidated Statements of Cash Flows (Unaudited) (In Thousands) Nine Months Ended September 30, 2025 2024 Operating activities Net income $ 102,324 $ 150,710 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 96,522 6,673 Depreciation, amortization and accretion 13,167 23,780 Deferred income tax (benefit) expense ( 4,103 ) 2,494 Gain on sale of MSR ( 1,467 ) ( 3,472 ) Gain on sale of insurance agency — ( 53,349 ) Funding of mortgage loans held for sale ( 1,220,267 ) ( 1,053,190 ) Proceeds from sales of mortgage loans held for sale 1,198,088 954,133 Gains on sales of mortgage loans held for sale ( 15,086 ) ( 14,233 ) Debt prepayment benefit — ( 56 ) (Gains) losses on sales of premises and equipment ( 347 ) 11 Stock-based compensation expense 13,527 10,639 Increase (decrease) in other assets 251 ( 8,108 ) Decrease in other liabilities ( 18,278 ) ( 1,712 ) Net cash provided by operating activities 164,331 14,320 Investing activities Purchases of securities available for sale ( 1,058,969 ) ( 60,656 ) Proceeds from sales of securities available for sale 686,485 177,185 Proceeds from call/maturities of securities available for sale 203,429 66,310 Proceeds from call/maturities of securities held to maturity 78,918 76,170 Proceeds from sale of MSR 9,353 23,011 Net increase in loans ( 929,248 ) ( 283,266 ) Purchases of premises and equipment ( 30,337 ) ( 10,408 ) Proceeds from sales of premises and equipment 1,366 339 Net cash received from sale of insurance agency — 55,333 Proceeds from surrender of bank-owned life insurance 56,255 — Net change in FHLB stock ( 6,130 ) 2,443 Proceeds from sales of other assets 12,605 1,466 Net cash received in acquisition of businesses 261,483 — Other, net 3,836 656 Net cash (used in) provided by investing activities ( 710,954 ) 48,583 Financing activities Net increase (decrease) in noninterest-bearing deposits 46,584 ( 53,874 ) Net increase in interest-bearing deposits 348,575 486,840 Net increase (decrease) in short-term borrowings 199,795 ( 198,845 ) Repayment of long-term debt — ( 245 ) Cash paid for dividends ( 56,578 ) ( 39,510 ) Proceeds from equity offering — 217,000 Net cash provided by financing activities 538,376 411,366 Net (decrease) increase in cash and cash equivalents ( 8,247 ) 474,269 Cash and cash equivalents at beginning of period 1,092,032 801,351 Cash and cash equivalents at end of period $ 1,083,785 $ 1,275,620 Supplemental disclosures Cash paid for interest $ 324,630 $ 286,930 Cash paid for income taxes $ 21,281 $ 27,412 Noncash transactions: Transfers of loans to other real estate owned $ 4,057 $ 3,286 Common stock issued in acquisition of businesses $ 1,050,821 $ — 6 Table of Contents Nine Months Ended September 30, 2025 2024 Recognition of operating right-of-use assets $ 13,282 $ 2,503 Recognition of operating lease liabilities $ 13,282 $ 2,503 See Notes to Consolidated Financial Statements. 7 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Note 1 – Summary of Significant Accounting Policies (In Thousands) Nature of Operations : Renasant Corporation (referred to herein as the “Company”) owns and operates Renasant Bank (“Renasant Bank” or the “Bank”), Park Place Capital Corporation and Continental Republic Capital, LLC (doing business as “Republic Business Credit”). On July 1, 2024, the Bank sold substantially all of the assets of its subsidiary, Renasant Insurance, Inc. Through its subsidiaries, the Company offers a diversified range of financial, wealth management and fiduciary services to its retail and commercial customers from offices located throughout the Southeast and offers factoring and asset-based lending on a nationwide basis. Basis of Presentation : The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the results for the interim periods presented have been included. For further information regarding the Company’s significant accounting policies, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”). Use of Estimates : The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates, and such differences may be material. Material estimates that are particularly susceptible to change include the allowance for credit losses and the fair value of assets acquired and liabilities assumed as part of a business acquisition. Impact of Recently-Issued Accounting Standards and Pronouncements : In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which amends the disclosure requirements in the notes to financial statements of specified information about certain costs and expenses. ASU 2024-03 will be effective January 1, 2027 and is not expected to have a significant impact on the Company’s financial statements. In December 2023, FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which enhances the transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. Entities will also be required to disclose income/(loss) from continuing operations before income tax expense/(benefit) disaggregated between domestic and foreign, as well as income tax expense/(benefit) from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 was effective January 1, 2025 and did not have a significant impact on our financial statements. In November 2023, FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which amends the disclosure requirements related to segment reporting primarily through enhanced disclosure about significant segment expenses and by requiring disclosure of segment information on an annual and interim basis. ASU 2023-07 was effective January 1, 2024 and did not have a significant impact on the Company’s financial statements or segment disclosures. Note 2 – Mergers and Acquisitions (Dollar Amounts In Thousands, Except Share Data) Acquisition of The First Bancshares, Inc. (“The First”) Effective April 1, 2025, the Company completed its acquisition by merger of The First, the parent company of The First Bank, in a transaction valued at approximately $ 1,052,690 . The Company issued 30,811,851 shares of common stock and paid approximately $ 1,869 , net of tax benefit, to The First stock option holders for 100 % of the voting equity interest in The First. At closing, The First merged with and into the Company, with the Company the surviving corporation in the merger; immediately thereafter, The First Bank merged with and into Renasant Bank, with Renasant Bank the surviving banking corporation in the 8 Table of Contents merger. Before the merger, The First operated 116 banking locations throughout Louisiana, Mississippi, Alabama, Georgia and Florida. The Company incurred transaction costs of $ 17,494 and $ 38,764 during the three and nine months ended September 30, 2025. The Company incurred transaction costs of $ 4,746 during the three and nine months ended September 30, 2024. These transaction costs are reported in the line item “Merger and conversion related expenses” in the Consolidated Statements of Income. The transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at estimated fair values as of the acquisition date. The Company recorded approximately $ 582,423 in intangible assets which consist of goodwill of $ 422,813 and a core deposit intangible of $ 159,610 . Goodwill resulted from a combination of revenue enhancements from expansion in existing markets and efficiencies resulting from operational synergies. The calculation of goodwill is subject to change as additional information becomes available during the measurement period. As a result of the various measurement period adjustments identified during the third quarter of 2025, the estimated fair value of goodwill as of the acquisition date decreased by $ 8,071 , from $ 430,884 to $ 422,813 . The fair value of the core deposit intangible is being amortized over its estimated useful life, currently expected to be approximately 10 years. The goodwill is not deductible for income tax purposes. The Company assumed the outstanding short-term borrowings and long-term debt of The First. Short-term borrowings consisted of $ 298,250 in short-term advances from the Federal Home Loan Bank. Long-term debt consisted of $ 95,262 and $ 25,653 in subordinated notes and junior subordinated debentures, respectively. The following table summarizes the calculation of the purchase price in connection with the Company’s merger with The First. Purchase Price: Shares issued to common shareholders, excluding unvested restricted stock awards 30,811,851 Purchase price per share $ 33.93 Value of stock paid $ 1,045,446 Fair value of converted unvested restricted stock awards for pre-combination service 5,375 Cash settlement for stock options, net of tax benefit 1,869 Total purchase price $ 1,052,690 The following table summarizes the fair value on April 1, 2025 of assets acquired and liabilities assumed on that date in connection with the merger with The First. 9 Table of Contents As Reported by The First Preliminary Adjustments Measurement Period Adjustments Fair Value of Net Assets Acquired at Date of Acquisition Cash and cash equivalents $ 263,352 $ — $ — $ 263,352 Securities 1,528,975 ( 71,772 ) 174 1,457,377 Loans, including loans held for sale 5,327,056 ( 152,153 ) ( 1,511 ) 5,173,392 Premises and equipment 174,770 ( 1,596 ) — 173,174 Bank-owned life insurance 146,601 — — 146,601 Other real estate owned 8,413 2,696 — 11,109 Core deposit intangible 56,899 102,711 — 159,610 Other assets 169,500 3,859 379 173,738 Total assets $ 7,675,566 $ ( 116,255 ) $ ( 958 ) $ 7,558,353 Deposits $ 6,456,784 $ ( 7,391 ) $ — 6,449,393 Borrowings 422,067 ( 2,902 ) — 419,165 Other liabilities 75,760 ( 15,903 ) 61 59,918 Total liabilities $ 6,954,611 $ ( 26,196 ) $ 61 $ 6,928,476 Net identifiable assets acquired over liabilities assumed $ 720,955 $ ( 90,059 ) $ ( 1,019 ) $ 629,877 Goodwill (1) 272,520 158,364 ( 8,071 ) 422,813 Net assets acquired over liabilities assumed $ 993,475 $ 68,305 $ ( 9,090 ) $ 1,052,690 (1) The goodwill resulting from the merger has been assigned to the Community Banks operating segment. 10 Table of Contents The following table presents additional information related to the acquired loan portfolio at the acquisition date: April 1, 2025 Purchased Credit-Deteriorated (“PCD”) loans: Par value $ 168,511 Allowance for credit losses at acquisition ( 25,003 ) Non-credit discount ( 4,021 ) Purchase price $ 139,487 Non-PCD loans: Fair value $ 5,032,996 Gross contractual amounts receivable 5,233,447 Estimate of contractual cash flows not expected to be collected 62,190 Supplemental Pro Forma Combined Condensed Consolidated Results of Operations The following unaudited pro forma combined condensed consolidated financial information presents the results of operations for the three and nine months ended September 30, 2025 and 2024 of the Company as though the merger with The First had been completed as of January 1, 2024. The unaudited pro forma information combines the historical results of The First with the Company’s historical consolidated results and applies the impact of purchase accounting adjustments such as loan discount accretion, deposit amortization and intangible assets amortization as if the merger was completed as of January 1, 2024. It excludes $ 20,479 of merger-related expenses and $ 66,612 of Day 1 acquisition provision expense from the second quarter of 2025 and instead includes such expenses in the first quarter of 2024. The pro forma information is not necessarily indicative of what would have occurred had the acquisition taken place on January 1, 2024. The pro forma information does not include the effect of any cost-saving or revenue-enhancing strategies. Other than the aforementioned $ 20,479 in merger-related expenses, which were attributed to the first quarter of 2024, merger expenses are reflected in the period in which they were incurred. (Unaudited) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net interest income - pro forma $ 214,571 $ 210,037 $ 639,871 $ 620,429 Noninterest income - pro forma $ 46,026 $ 99,012 $ 139,289 $ 200,096 Noninterest expense - pro forma $ 183,830 $ 175,935 $ 548,533 $ 516,469 Net income - pro forma $ 50,839 $ 98,877 $ 173,055 $ 175,698 Earnings per share - pro forma: Basic $ 0.54 $ 1.07 $ 1.83 $ 1.96 Diluted $ 0.53 $ 1.06 $ 1.81 $ 1.95 The Company has determined it is impracticable to disclose stand-alone revenues and earnings for legacy The First since April 1, 2025 due to the merging of certain processes during the second quarter of 2025. 11 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Note 3 – Securities (In Thousands, Except Number of Securities) The amortized cost and fair value of securities available for sale were as follows as of the dates presented in the tables below. There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of September 30, 2025 or December 31, 2024. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2025 Obligations of states and political subdivisions $ 270,696 $ 5,318 $ ( 2,365 ) $ 273,649 Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 710,105 3,709 ( 17,508 ) 696,306 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 739,005 2,978 ( 59,903 ) 682,080 Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 100,337 221 ( 799 ) 99,759 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 414,781 2,639 ( 18,669 ) 398,751 Other debt securities 364,473 871 ( 3,239 ) 362,105 $ 2,599,397 $ 15,736 $ ( 102,483 ) $ 2,512,650 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2024 Obligations of states and political subdivisions $ 20,266 $ 57 $ ( 2,269 ) $ 18,054 Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 185,292 81 ( 24,468 ) 160,905 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 475,311 75 ( 86,870 ) 388,516 Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 11,373 — ( 751 ) 10,622 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 146,510 41 ( 21,595 ) 124,956 Other debt securities 130,175 440 ( 2,655 ) 127,960 $ 968,927 $ 694 $ ( 138,608 ) $ 831,013 12 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The amortized cost and fair value of securities held to maturity were as follows as of the dates presented: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2025 Obligations of states and political subdivisions $ 280,536 $ 26 $ ( 33,585 ) $ 246,977 Residential mortgage backed securities Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 336,382 — ( 11,384 ) 324,998 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 327,592 — ( 19,529 ) 308,063 Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 16,944 — ( 2,185 ) 14,759 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 42,372 — ( 6,129 ) 36,243 Other debt securities 48,090 — ( 2,440 ) 45,650 $ 1,051,916 $ 26 $ ( 75,252 ) $ 976,690 Allowance for credit losses - held to maturity securities ( 32 ) Held to maturity securities, net of allowance for credit losses $ 1,051,884 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2024 Obligations of states and political subdivisions $ 284,542 $ 3 $ ( 42,491 ) $ 242,054 Residential mortgage backed securities Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 372,414 — ( 25,251 ) 347,163 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 354,882 — ( 41,506 ) 313,376 Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 16,961 — ( 2,958 ) 14,003 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 43,662 — ( 7,317 ) 36,345 Other debt securities 53,683 — ( 4,080 ) 49,603 $ 1,126,144 $ 3 $ ( 123,603 ) $ 1,002,544 Allowance for credit losses - held to maturity securities ( 32 ) Held to maturity securities, net of allowance for credit losses $ 1,126,112 Securities sold are presented in the tables below for the periods presented. On April 1, 2025, the Company acquired available for sale securities with a fair value of $ 1,457,377 as part of the merger with The First. Shortly after merger, certain securities from this portfolio were sold at carrying value, resulting in no gain or loss on the sale; no other securities were sold in the first nine months of 2025. With respect to the securities sold during the nine months ended September 30, 2024, the Company intended to sell these securities as of December 31, 2023, and completed the sale in January 2024. Therefore, the Company impaired the securities and recognized the loss in net income as of December 31, 2023. 13 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Carrying Value Immediately Prior to Sale Net Proceeds Gain/(Loss) Nine months ended September 30, 2025 Obligations of other U.S. Government agencies and corporations $ 34,394 $ 34,394 $ — Obligations of states and political subdivisions 327,509 327,509 — Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 275,910 275,910 — Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 2,437 2,437 — Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 6,541 6,541 — Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 6,480 6,480 — Other debt securities 33,214 33,214 — $ 686,485 $ 686,485 $ — Carrying Value Immediately Prior to Sale Net Proceeds Impairment (Recognized in December 2023) Nine months ended September 30, 2024 Obligations of states and political subdivisions $ 12,301 $ 11,360 $ ( 941 ) Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 107,389 95,922 ( 11,467 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 48,300 43,990 ( 4,310 ) Commercial mortgage backed securities: Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 28,547 25,913 ( 2,634 ) $ 196,537 $ 177,185 $ ( 19,352 ) At September 30, 2025 and December 31, 2024, securities with a carrying value of $ 1,210,564 and $ 818,344 , respectively, were pledged to secure government, public and trust deposits. Securities with a carrying value of $ 13,639 and $ 16,935 were pledged as collateral for short-term borrowings and derivative instruments, respectively, at September 30, 2025. Securities with a carrying value of $ 13,083 and $ 12,443 were pledged as collateral for short-term borrowings and derivative instruments, respectively, at December 31, 2024. The amortized cost and fair value of securities at September 30, 2025 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties. 14 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Held to Maturity Available for Sale Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 420 $ 420 $ 9,797 $ 9,815 Due after one year through five years 5,649 5,427 76,154 76,555 Due after five years through ten years 180,726 161,444 121,374 121,260 Due after ten years 93,741 79,686 119,660 121,614 Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 336,382 324,998 710,105 696,306 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 327,592 308,063 739,005 682,080 Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 16,944 14,759 100,337 99,759 Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 42,372 36,243 414,781 398,751 Other debt securities 48,090 45,650 308,184 306,510 $ 1,051,916 $ 976,690 $ 2,599,397 $ 2,512,650 15 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The following tables present the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded as of the dates presented: Less than 12 Months 12 Months or More Total # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Available for Sale: September 30, 2025 Obligations of states and political subdivisions 19 $ 33,281 $ ( 702 ) 7 $ 13,309 $ ( 1,663 ) 26 $ 46,590 $ ( 2,365 ) Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 5 122,812 ( 1,316 ) 36 137,171 ( 16,192 ) 41 259,983 ( 17,508 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 3 27,820 ( 155 ) 37 306,995 ( 59,748 ) 40 334,815 ( 59,903 ) Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 9 71,211 ( 396 ) 2 5,581 ( 403 ) 11 76,792 ( 799 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 9 28,319 ( 40 ) 25 102,483 ( 18,629 ) 34 130,802 ( 18,669 ) Other debt securities 16 269,566 ( 1,983 ) 10 18,286 ( 1,256 ) 26 287,852 ( 3,239 ) Total 61 $ 553,009 $ ( 4,592 ) 117 $ 583,825 $ ( 97,891 ) 178 $ 1,136,834 $ ( 102,483 ) December 31, 2024 Obligations of states and political subdivisions — $ — $ — 7 $ 12,841 $ ( 2,269 ) 7 $ 12,841 $ ( 2,269 ) Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 7 11,051 ( 259 ) 34 141,321 ( 24,208 ) 41 152,372 ( 24,467 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 3 48,879 ( 482 ) 37 311,964 ( 86,389 ) 40 360,843 ( 86,871 ) Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises 2 5,248 ( 122 ) 2 5,375 ( 629 ) 4 10,623 ( 751 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 2 7,681 ( 39 ) 25 104,326 ( 21,556 ) 27 112,007 ( 21,595 ) Other debt securities 2 22,357 ( 218 ) 17 30,801 ( 2,437 ) 19 53,158 ( 2,655 ) Total 16 $ 95,216 $ ( 1,120 ) 122 $ 606,628 $ ( 137,488 ) 138 $ 701,844 $ ( 138,608 ) 16 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Less than 12 Months 12 Months or More Total # Fair Value Unrealized Losses # Fair Value Unrealized Losses # Fair Value Unrealized Losses Held to Maturity: September 30, 2025 Obligations of states and political subdivisions 6 $ 15,151 $ ( 1,272 ) 119 $ 229,928 $ ( 32,313 ) 125 $ 245,079 $ ( 33,585 ) Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises — — — 66 324,998 ( 11,384 ) 66 324,998 ( 11,384 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 18 308,063 ( 19,529 ) 18 308,063 ( 19,529 ) Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises — — — 1 14,758 ( 2,185 ) 1 14,758 ( 2,185 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 9 36,285 ( 6,129 ) 9 36,285 ( 6,129 ) Other debt securities — — — 10 45,854 ( 2,440 ) 10 45,854 ( 2,440 ) Total 6 $ 15,151 $ ( 1,272 ) 223 $ 959,886 $ ( 73,980 ) 229 $ 975,037 $ ( 75,252 ) December 31, 2024 Obligations of states and political subdivisions — $ — $ — 128 $ 240,394 $ ( 42,491 ) 128 $ 240,394 $ ( 42,491 ) Residential mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises — — — 69 347,154 ( 25,251 ) 69 347,154 ( 25,251 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 18 313,376 ( 41,506 ) 18 313,376 ( 41,506 ) Commercial mortgage backed securities: Mortgage backed securities issued by U.S. Government agencies or sponsored enterprises — — — 1 14,002 ( 2,958 ) 1 14,002 ( 2,958 ) Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — — 9 36,345 ( 7,317 ) 9 36,345 ( 7,317 ) Other debt securities — — — 10 49,603 ( 4,080 ) 10 49,603 ( 4,080 ) Total — $ — $ — 235 $ 1,000,874 $ ( 123,603 ) 235 $ 1,000,874 $ ( 123,603 ) The Company evaluates its available for sale investment securities in an unrealized loss position on a quarterly basis. If the Company intends to sell the security or it is more likely than not that it will be required to sell before recovery, the entire unrealized loss is recorded as a loss within noninterest income in the Consolidated Statements of Income along with a corresponding adjustment to the amortized cost basis of the security. If the Company does not intend to sell the security and it is not more likely than not that it will be required to sell the security before recovery of its amortized cost basis, the Company evaluates if any of the unrealized loss is related to a potential credit loss. The amount related to credit loss, if any, is recognized in earnings as a provision for credit loss and a corresponding allowance for credit losses is established; each is calculated as the difference between the estimate of the discounted future contractual cash flows and the amortized cost basis of the security. A number of qualitative and quantitative factors are considered by management in the estimate of the discounted future contractual cash flows, including the financial condition of the underlying issuer, current and projected deferrals or defaults and credit ratings by nationally recognized statistical rating agencies. The remaining difference between the fair value and the 17 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) amortized cost basis of the security is considered the amount related to other market factors and is recognized in other comprehensive income, net of tax. As of September 30, 2025, the Company did not intend to sell any of the securities in an unrealized loss position, and it is not more likely than not that the Company will be required to sell any such security prior to the recovery of its amortized cost basis, which may be maturity. Furthermore, more than 90% of available for sale securities have the explicit backing of the U.S. government or a guarantee from a U.S. government sponsored enterprise that has perceived credit risk the same as the U.S. government. Performance of these securities has been in line with broader market price performance, indicating that increases in market-based, risk-free rates, and not credit-related factors, are driving losses. When determining the fair value of the contractual cash flows for municipal and corporate securities, the Company considers historical experience with credit sensitive securities, current market conditions, the financial condition of the underlying issuer, current credit ratings, ratings changes and outlook, explicit and implicit guarantees, or insurance programs. Based upon its review of these factors as of September 30, 2025, the Company determined that all such losses resulted from factors not deemed credit-related. As a result, no credit-related impairment was recognized in current earnings, and all unrealized losses for available for sale securities were recorded in other comprehensive income (loss). See Note 13, “Other Comprehensive Income” for more information on the Company’s unrealized losses on securities. The allowance for credit losses on held to maturity securities was $ 32 at each of September 30, 2025 and December 31, 2024. The Company monitors the credit quality of debt securities held to maturity using bond investment grades assigned by nationally recognized statistical ratings agencies. Updated investment grades are obtained as they become available from agencies. As of September 30, 2025, all of the debt securities held to maturity were rated A or higher by the ratings agencies. Note 4 – Loans (In Thousands, Except Number of Loans) For purposes of this Note 4, all references to “loans” mean loans excluding loans held for sale. The following is a summary of loans and leases as of the dates presented: 18 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) September 30, 2025 December 31, 2024 Commercial, financial, agricultural $ 2,760,490 $ 1,885,817 Lease financing 78,964 95,071 Real estate – construction: Residential 404,651 256,655 Commercial 1,122,839 836,998 Total real estate – construction 1,527,490 1,093,653 Real estate – 1-4 family mortgage: Primary 3,061,356 2,428,076 Home equity 739,786 544,158 Rental/investment 841,515 402,938 Land development 239,955 113,705 Total real estate – 1-4 family mortgage 4,882,612 3,488,877 Real estate – commercial mortgage: Owner-occupied 3,321,186 1,894,679 Non-owner occupied 6,120,677 4,226,937 Land development 223,212 114,452 Total real estate – commercial mortgage 9,665,075 6,236,068 Installment loans to individuals 115,675 90,014 Gross loans 19,030,306 12,889,500 Unearned income ( 4,785 ) ( 4,480 ) Loans, net of unearned income $ 19,025,521 $ 12,885,020 Past Due and Nonaccrual Loans Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Generally, the recognition of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer and other retail loans are typically charged-off no later than the time the loan is 120 days past due. In all cases, loans are placed on nonaccrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. For loans that are placed on nonaccrual status or charged-off, all interest accrued for the current year but not collected is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. No interest income was recognized on nonaccrual loans for the three and nine months ended September 30, 2025 and 2024. The following tables provide an aging of past due accruing and nonaccruing loans, segregated by class, as of the dates presented: 19 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Accruing Loans Nonaccruing Loans 30-89 Days Past Due 90 Days or More Past Due Current Loans Total Loans 30-89 Days Past Due 90 Days or More Past Due Current Loans Total Loans Total Loans September 30, 2025 Commercial, financial, agricultural $ 4,430 $ 138 $ 2,723,231 $ 2,727,799 $ ( 260 ) $ 6,946 $ 26,005 $ 32,691 $ 2,760,490 Lease financing 215 — 78,111 78,326 — 638 — 638 78,964 Real estate – construction: Residential 441 — 401,685 402,126 — 241 2,284 2,525 404,651 Commercial 2,708 — 1,118,008 1,120,716 — — 2,123 2,123 1,122,839 Total real estate – construction 3,149 — 1,519,693 1,522,842 — 241 4,407 4,648 1,527,490 Real estate – 1-4 family mortgage: Primary 26,510 46 2,982,691 3,009,247 2,351 42,865 6,893 52,109 3,061,356 Home equity 4,852 — 732,374 737,226 414 1,875 271 2,560 739,786 Rental/investment 2,235 103 836,590 838,928 238 1,442 907 2,587 841,515 Land development 177 — 239,729 239,906 — 44 5 49 239,955 Total real estate – 1-4 family mortgage 33,774 149 4,791,384 4,825,307 3,003 46,226 8,076 57,305 4,882,612 Real estate – commercial mortgage: Owner-occupied 5,278 — 3,286,031 3,291,309 3,964 3,950 21,963 29,877 3,321,186 Non-owner occupied 649 485 6,074,884 6,076,018 9,241 7,361 28,057 44,659 6,120,677 Land development 332 — 222,161 222,493 82 585 52 719 223,212 Total real estate – commercial mortgage 6,259 485 9,583,076 9,589,820 13,287 11,896 50,072 75,255 9,665,075 Installment loans to individuals 827 20 114,609 115,456 89 104 26 219 115,675 Unearned income — — ( 4,785 ) ( 4,785 ) — — — — ( 4,785 ) Loans, net of unearned income $ 48,654 $ 792 $ 18,805,319 $ 18,854,765 $ 16,119 $ 66,051 $ 88,586 $ 170,756 $ 19,025,521 20 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Accruing Loans Nonaccruing Loans 30-89 Days Past Due 90 Days or More Past Due Current Loans Total Loans 30-89 Days Past Due 90 Days or More Past Due Current Loans Total Loans Total Loans December 31, 2024 Commercial, financial, agricultural $ 807 $ 125 $ 1,883,010 $ 1,883,942 $ 245 $ 734 $ 896 $ 1,875 $ 1,885,817 Lease financing 27 — 90,961 90,988 78 614 3,391 4,083 95,071 Real estate – construction: Residential 2,194 — 253,238 255,432 — 1,023 200 1,223 256,655 Commercial — 16 836,982 836,998 — — — — 836,998 Total real estate – construction 2,194 16 1,090,220 1,092,430 — 1,023 200 1,223 1,093,653 Real estate – 1-4 family mortgage: Primary 29,258 — 2,343,781 2,373,039 13,627 25,335 16,075 55,037 2,428,076 Home equity 3,186 35 537,568 540,789 941 1,094 1,334 3,369 544,158 Rental/investment 573 12 401,977 402,562 136 240 — 376 402,938 Land development 25 1,740 111,920 113,685 20 — — 20 113,705 Total real estate – 1-4 family mortgage 33,042 1,787 3,395,246 3,430,075 14,724 26,669 17,409 58,802 3,488,877 Real estate – commercial mortgage: Owner-occupied 2,650 365 1,879,350 1,882,365 296 1,000 11,018 12,314 1,894,679 Non-owner occupied 326 — 4,197,331 4,197,657 — — 29,280 29,280 4,226,937 Land development 142 160 111,019 111,321 98 16 3,017 3,131 114,452 Total real estate – commercial mortgage 3,118 525 6,187,700 6,191,343 394 1,016 43,315 44,725 6,236,068 Installment loans to individuals 654 11 89,246 89,911 4 42 57 103 90,014 Unearned income — — ( 4,480 ) ( 4,480 ) — — — — ( 4,480 ) Loans, net of unearned income $ 39,842 $ 2,464 $ 12,731,903 $ 12,774,209 $ 15,445 $ 30,098 $ 65,268 $ 110,811 $ 12,885,020 Collateral Dependent Loans Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics with other loans within the Company’s portfolio, and the allowance for credit losses on such loans is evaluated on an individual basis rather than on a collective basis with other pooled loans. The majority of collateral dependent loans consist of commercial purpose loans with collateral comprised of real estate and business assets. Collateral dependent loans were $ 131,265 and $ 66,063 at September 30, 2025 and December 31, 2024, respectively. The Company recorded a specific allowance for credit losses on such loans of $ 27,010 and $ 15,052 at September 30, 2025 and December 31, 2024, respectively, which reflected the difference between the net realizable value of the collateral and the amortized cost of the loans. The increase in collateral dependent loans from December 31, 2024 is primarily due to acquired collateral dependent loans from The First. Certain Modifications to Borrowers Experiencing Financial Difficulty Certain modifications of loans made to borrowers experiencing financial difficulty in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay (including extension of the amortization period), or a term extension, but excluding covenant waivers and modification of contingent acceleration clauses, are required to be disclosed in accordance with ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). All modifications for the three and nine months ended September 30, 2025 and 2024 and which met the disclosure criteria in ASU 2022-02 were performing in accordance with their modified terms at September 30, 2025 and 2024, respectively. There were unused commitments of $ 647 and $ 464 with respect to these loans at September 30, 2025 and September 30, 2024, respectively. Upon the Company’s determination that a modification has subsequently become uncollectible, the loan, or portion of the loan, is charged off, the amortized cost basis of the loan is reduced by the uncollectible amount, and the allowance for credit losses is adjusted accordingly. See Note 5, “Allowance for Credit Losses,” for more information on the allowance for credit losses. 21 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The following tables present the amortized cost basis of loans that were experiencing financial difficulty, modified during the three and nine months ended September 30, 2025 and 2024, respectively, by class of financing receivable and by type of modification. The percentage of the amortized cost basis for each class of disclosed modifications as compared to the amortized cost basis of each class of loans is also presented below. Three Months Ended September 30, 2025 Interest Rate Reduction Term Extension Payment Delay Term Extension and Payment Delay Interest Rate Reduction and Term Extension Total % Total Loans by Class Commercial, financial, agricultural $ — $ 27,025 $ — $ 101 $ — $ 27,126 0.98 % Lease financing — — — — — — — Real estate – 1-4 family mortgage: Primary — — 157 17 — 174 0.01 Home equity — 39 124 — — 163 0.02 Total real estate – 1-4 family mortgage — 39 281 17 — 337 0.01 Real estate – commercial mortgage: Owner-occupied 1,142 $ — $ — $ — $ 142 $ 1,284 0.04 Non-owner occupied — — — — 357 357 0.01 Land development — 33 — — — 33 0.01 Total real estate – commercial mortgage 1,142 33 — — 499 1,674 0.02 Installment loans to individuals — — — 11 — 11 0.01 Loans, net of unearned income $ 1,142 $ 27,097 $ 281 $ 129 $ 499 $ 29,148 0.15 % Nine Months Ended September 30, 2025 Interest Rate Reduction Term Extension Payment Delay Term Extension and Payment Delay Interest Rate Reduction and Term Extension Interest Rate Reduction, Term Extension and Payment Delay Total % Total Loans by Class Commercial, financial, agricultural $ — $ 27,025 $ — $ 101 $ — $ — $ 27,126 0.98 % Real estate – construction: Residential — — — 235 — — 235 0.06 % Real estate – 1-4 family mortgage: Primary — — 157 17 — — 174 0.01 Home equity — 39 124 — — — 163 0.02 Total real estate – 1-4 family mortgage — 39 281 17 — — 337 0.01 Real estate – commercial mortgage: Owner-occupied 1,142 — — — 142 — 1,284 0.04 Non-owner occupied — 2,077 — — 357 — 2,434 0.04 Land development — 33 — — — — 33 0.01 Total real estate – commercial mortgage 1,142 2,110 — — 499 — 3,751 0.04 Installment loans to individuals — 81 6 13 — 2 102 0.09 Loans, net of unearned income $ 1,142 $ 29,255 $ 287 $ 366 $ 499 $ 2 $ 31,551 0.17 % 22 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Three Months Ended September 30, 2024 Term Extension Payment Delay Interest Rate Reduction, Term Extension and Payment Delay Interest Rate Reduction and Payment Delay Total % Total Loans by Class Commercial, financial, agricultural $ — $ 53 $ — $ — $ 53 — % Real estate – 1-4 family mortgage: Primary 23 1,620 — 206 1,849 0.08 Home equity 106 — — — 106 0.02 Rental/investment 36 548 — — 584 0.15 Total real estate – 1-4 family mortgage 165 2,168 — 206 2,539 — Real estate – commercial mortgage: Owner-occupied 1,086 206 — — 1,292 0.07 Installment loans to individuals — — 3 — 3 — Loans, net of unearned income $ 1,251 $ 2,427 $ 3 $ 206 $ 3,887 0.03 % Nine Months Ended September 30, 2024 Interest Rate Reduction Term Extension Payment Delay Term Extension and Payment Delay Interest Rate Reduction and Term Extension Interest Rate Reduction, Term Extension and Payment Delay Interest Rate Reduction and Payment Delay Total % Total Loans by Class Commercial, financial, agricultural $ 1,097 $ 69 $ 53 $ — $ — $ 125 — $ 1,344 0.07 % Real estate – 1-4 family mortgage: Primary — 56 1,806 442 — — 206 2,510 0.10 Home equity — 106 — — — — — 106 0.02 Rental/investment — 36 548 — — — — 584 0.15 Total real estate – 1-4 family mortgage — 198 2,354 442 — — 206 3,200 0.09 Real estate – commercial mortgage: Owner-occupied 6,946 1,266 206 — 255 — — 8,673 0.47 Non-owner occupied — 2,431 83 — — — — 2,514 0.06 Total real estate – commercial mortgage 6,946 3,697 289 — 255 — — 11,187 0.19 Installment loans to individuals — — 13 — — 3 — 16 0.02 Loans, net of unearned income $ 8,043 $ 3,964 $ 2,709 $ 442 $ 255 $ 128 206 $ 15,747 0.12 % The following tables present the weighted average financial effect of loan modifications by class of financing receivable for the periods presented. 23 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Three months ended September 30, 2025 Loan Type Financial Effect Interest Rate Reduction Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 485 basis points Term Extension Commercial, financial, agricultural Extended the term 12 months Real estate – 1-4 family mortgage - Home Equity Extended the term 56 months Real Estate - Commercial Mortgage - Land Development Extended the term 60 months Payment Delay Real estate – 1-4 family mortgage - Primary Delayed the payment 16 months Real estate – 1-4 family mortgage - Home Equity Delayed the payment 51 months Combination - Term Extension and Payment Delay Commercial, financial, agricultural Extended the term and delayed the payment 22 months Real estate – 1-4 family mortgage - Primary Extended the term and delayed the payment 19 months Installment loans to individuals Extended the term and delayed the payment 43 months Combination - Interest Rate Reduction and Term Extension Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 45 basis points and extended the term 80 months Real Estate - Commercial Mortgage - Non-owner Occupied Reduced the interest rate 45 basis points and extended the term 81 months Nine months ended September 30, 2025 Loan Type Financial Effect Interest Rate Reduction Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 485 basis points Term Extension Commercial, financial, agricultural Extended the term 12 months Real estate – 1-4 family mortgage - Home Equity Extended the term 56 months Real Estate - Commercial Mortgage - Non-owner Occupied Extended the term 12 months Real Estate - Commercial Mortgage - Land Development Extended the term 60 months Installment loans to individuals Extended the term 124 months Payment Delay Real estate – 1-4 family mortgage - Primary Delayed the payment 16 months Real estate – 1-4 family mortgage - Home Equity Delayed the payment 50 months Installment loans to individuals Delayed the payment 23 months Combination - Term Extension and Payment Delay Commercial, financial, agricultural Extended the term and delayed the payment 22 months Real estate – Construction - Residential Extended the term and delayed the payment 35 months Real estate – 1-4 family mortgage - Primary Extended the term and delayed the payment 19 months Installment loans to individuals Extended the term and delayed the payment 45 months Combination - Interest Rate Reduction and Term Extension Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 45 basis points and extended the term 80 months Real Estate - Commercial Mortgage - Non-owner Occupied Reduced the interest rate 45 basis points and extended the term 81 months Combination - Interest Rate Reduction, Term Extension and Payment Delay Installment loans to individuals Reduced the interest rate 425 basis points and extended the term and delayed the payment 49 months 24 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Three months ended September 30, 2024 Loan Type Financial Effect Term Extension Real estate – 1-4 family mortgage - Primary Extended the term 90 months Real estate – 1-4 family mortgage - Home Equity Extended the term 16 months Real estate – 1-4 family mortgage - Rental/investment Extended the term 6 months Real Estate - Commercial Mortgage - Owner Occupied Extended the term 8 months Payment Delay Commercial, financial, agricultural Delayed the payment 8 months Real estate – 1-4 family mortgage - Primary Delayed the payment 19 months Real estate – 1-4 family mortgage - Rental/investment Delayed the payment 131 months Real Estate - Commercial Mortgage - Owner Occupied Delayed the payment 40 months Combination - Interest Rate Reduction and Payment Delay Real estate – 1-4 family mortgage - Primary Reduced the interest rate 25 basis points and extended the term 51 months Combination - Interest Rate Reduction, Term Extension and Payment Delay Installment loans to individuals Reduced the interest rate 460 basis points and extended the term and delayed the payment 54 months 25 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Nine months ended September 30, 2024 Loan Type Financial Effect Interest Rate Reduction Commercial, financial, agricultural Reduced the interest rate 39 basis points Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 47 basis points Term Extension Commercial, financial, agricultural Extended the term 8 months Real estate – 1-4 family mortgage - Primary Extended the term 51 months Real estate – 1-4 family mortgage - Home Equity Extended the term 16 months Real estate – 1-4 family mortgage - Rental/investment Extended the term 6 months Real Estate - Commercial Mortgage - Owner Occupied Extended the term 8 months Real Estate - Commercial Mortgage - Non-owner Occupied Extended the term 8 months Payment Delay Commercial, financial, agricultural Delayed the payment 8 months Real estate – 1-4 family mortgage - Primary Delayed the payment 22 months Real estate – 1-4 family mortgage - Rental/investment Delayed the payment 131 months Real Estate - Commercial Mortgage - Owner Occupied Delayed the payment 40 months Real Estate - Commercial Mortgage - Non-owner Occupied Delayed the payment 9 months Installment loans to individuals Delayed the payment 17 months Combination - Term Extension and Payment Delay Real estate – 1-4 family mortgage - Primary Extended the term and delayed the payment 42 months Combination - Interest Rate Reduction and Term Extension Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 275 basis points and extended the term 21 months Combination - Interest Rate Reduction and Payment Delay Real estate – 1-4 family mortgage - Primary Reduced the interest rate 25 basis points and delayed the payment 51 months Combination - Interest Rate Reduction, Term Extension and Payment Delay Commercial, financial, agricultural Reduced the interest rate 181 basis points and extended the term and delayed the payment 59 months Installment loans to individuals Reduced the interest rate 460 basis points and extended the term and delayed the payment 54 months Credit Quality For commercial and commercial real estate loans, internal risk-rating grades are assigned by lending, credit administration and loan review personnel, based on an analysis of the financial and collateral strength and other credit attributes underlying each loan. Management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the portfolio balances of commercial and commercial real estate secured loans. Loan grades range between 10 and 95 , with 10 being loans with the least credit risk. Loans within the “Pass” grade (those with a risk rating between 10 and 69 ) generally have a lower risk of loss and therefore a lower risk factor applied to the loan balances. The “Special Mention” grade (those with a risk rating between 70 and 79 ) represents a loan where a significant adverse risk-modifying action is anticipated in the near term that, if left uncorrected, could result in deterioration of the credit quality of the loan. Loans that migrate toward the “Classified” grade generally have a higher risk of loss and therefore a higher risk factor applied to those related loan balances. The following tables present the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented: 26 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Term Loans Amortized Cost Basis by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Revolving Loans Converted to Term Total Loans September 30, 2025 Commercial, Financial, Agricultural $ 453,028 $ 292,323 $ 213,414 $ 242,191 $ 141,528 $ 121,173 $ 1,263,029 $ 3,592 $ 2,730,278 Pass 451,970 285,390 192,780 235,332 139,257 115,489 1,206,897 367 2,627,482 Special Mention 206 2,767 16,032 586 453 3,613 18,562 — 42,219 Classified 852 4,166 4,602 6,273 1,818 2,071 37,570 3,225 60,577 Lease Financing Receivables $ 9,572 $ 8,112 $ 13,660 $ 30,939 $ 6,709 $ 5,187 $ — $ — $ 74,179 Pass 9,560 8,112 13,165 29,059 6,709 5,187 — — 71,792 Special Mention — — — 32 — — — — 32 Classified 12 — 495 1,848 — — — — 2,355 Real Estate - Construction $ 408,714 $ 419,441 $ 322,877 $ 225,680 $ 8,252 $ 98 $ 31,284 $ 1,145 $ 1,417,491 Residential 209,182 72,180 5,989 241 — — 7,060 — 294,652 Pass 207,133 72,180 5,754 — — — 7,060 — 292,127 Special Mention — — — — — — — — — Classified 2,049 — 235 241 — — — — 2,525 Commercial 199,532 347,261 316,888 225,439 8,252 98 24,224 1,145 1,122,839 Pass 199,532 347,259 298,658 223,318 8,252 98 24,224 1,145 1,102,486 Special Mention — — — — — — — — — Classified — 2 18,230 2,121 — — — — 20,353 Real Estate - 1-4 Family Mortgage $ 289,327 $ 244,798 $ 167,011 $ 215,772 $ 121,131 $ 87,795 $ 109,877 $ 402 $ 1,236,113 Primary 22,085 18,104 9,154 15,152 12,632 12,130 524 82 89,863 Pass 21,754 14,797 8,510 14,514 11,629 10,912 524 82 82,722 Special Mention — 199 — 209 449 46 — — 903 Classified 331 3,108 644 429 554 1,172 — — 6,238 Home Equity 3,015 814 883 775 758 265 102,888 320 109,718 Pass 3,015 814 883 272 758 265 102,559 269 108,835 Special Mention — — — — — — — — — Classified — — — 503 — — 329 51 883 Rental/Investment 187,220 142,595 127,516 183,646 105,543 74,139 2,240 — 822,899 Pass 186,026 141,898 126,195 182,079 104,506 72,012 2,240 — 814,956 Special Mention 268 175 546 148 93 32 — — 1,262 Classified 926 522 775 1,419 944 2,095 — — 6,681 Land Development 77,007 83,285 29,458 16,199 2,198 1,261 4,225 — 213,633 Pass 77,007 80,391 29,458 16,199 2,198 1,261 4,225 — 210,739 Special Mention — 2,894 — — — — — — 2,894 Classified — — — — — — — — — Real Estate - Commercial Mortgage $ 1,698,474 $ 1,414,243 $ 1,022,192 $ 2,455,287 $ 1,317,543 $ 1,385,472 $ 358,688 $ 2,077 $ 9,653,976 Owner-Occupied 377,668 577,015 444,953 589,572 483,072 623,280 225,473 — 3,321,033 Pass 376,885 563,297 429,598 577,140 469,153 588,653 215,394 — 3,220,120 Special Mention 356 5,366 3,816 1,750 1,514 15,135 9,228 — 37,165 Classified 427 8,352 11,539 10,682 12,405 19,492 851 — 63,748 Non-Owner Occupied 1,256,303 784,652 558,455 1,840,634 813,648 752,286 112,622 2,077 6,120,677 Pass 1,201,694 757,376 554,765 1,716,497 778,906 690,735 111,009 — 5,810,982 Special Mention 38,986 7,731 2,275 66,737 9,412 7,966 138 — 133,245 Classified 15,623 19,545 1,415 57,400 25,330 53,585 1,475 2,077 176,450 Land Development 64,503 52,576 18,784 25,081 20,823 9,906 20,593 — 212,266 27 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Term Loans Amortized Cost Basis by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Pass 64,337 50,741 17,988 23,994 20,806 9,605 20,593 — 208,064 Special Mention 139 1,069 750 — — 113 — — 2,071 Classified 27 766 46 1,087 17 188 — — 2,131 Installment loans to individuals $ — $ — $ — $ — $ — $ — $ — $ — $ — Pass — — — — — — — — — Special Mention — — — — — — — — — Classified — — — — — — — — — Total loans subject to risk rating $ 2,859,115 $ 2,378,917 $ 1,739,154 $ 3,169,869 $ 1,595,163 $ 1,599,725 $ 1,762,878 $ 7,216 $ 15,112,037 Pass 2,798,913 2,322,255 1,677,754 3,018,404 1,542,174 1,494,217 1,694,725 1,863 14,550,305 Special Mention 39,955 20,201 23,419 69,462 11,921 26,905 27,928 — 219,791 Classified 20,247 36,461 37,981 82,003 41,068 78,603 40,225 5,353 341,941 Term Loans Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total Loans December 31, 2024 Commercial, Financial, Agricultural $ 292,917 $ 208,900 $ 228,690 $ 113,192 $ 66,121 $ 54,163 $ 898,772 $ 2,889 $ 1,865,644 Pass 287,632 206,087 213,209 112,527 64,780 52,756 874,104 2,767 1,813,862 Special Mention 591 1,613 185 242 107 378 7,006 — 10,122 Classified 4,694 1,200 15,296 423 1,234 1,029 17,662 122 41,660 Lease Financing Receivables $ 12,239 $ 22,339 $ 39,738 $ 9,125 $ 3,724 $ 3,426 $ — $ — $ 90,591 Pass 12,239 17,225 34,637 8,778 2,587 3,246 — — 78,712 Watch — 1,261 3,254 173 1,137 180 — — 6,005 Classified — 3,853 1,847 174 — — — — 5,874 Real Estate - Construction $ 353,568 $ 243,827 $ 382,439 $ 18,443 $ — $ 625 $ 20,096 $ — $ 1,018,998 Residential 162,966 15,455 1,708 — — 625 1,246 — 182,000 Pass 160,772 14,673 1,467 — — 625 1,246 — 178,783 Special Mention 2,194 — — — — — — — 2,194 Classified — 782 241 — — — — — 1,023 Commercial 190,602 228,372 380,731 18,443 — — 18,850 — 836,998 Pass 190,602 216,051 380,731 18,443 — — 18,850 — 824,677 Special Mention — 12,321 — — — — — — 12,321 Classified — — — — — — — — — 28 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Term Loans Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Real Estate - 1-4 Family Mortgage $ 187,587 $ 110,606 $ 120,025 $ 66,034 $ 33,800 $ 26,150 $ 35,740 $ 1,150 $ 581,092 Primary 10,925 5,336 7,865 4,247 2,463 6,534 1,704 796 39,870 Pass 10,925 5,126 7,558 3,979 2,463 5,776 1,704 796 38,327 Special Mention — — 143 — — — — — 143 Classified — 210 164 268 — 758 — — 1,400 Home Equity 966 1,005 7 937 — 35 28,976 51 31,977 Pass 966 1,005 7 937 — — 28,976 — 31,891 Special Mention — — — — — — — — — Classified — — — — — 35 — 51 86 Rental/Investment 96,447 83,682 108,436 59,836 31,029 18,146 4,745 303 402,624 Pass 95,903 82,878 108,296 59,553 30,936 17,487 4,745 213 400,011 Special Mention 180 564 44 52 24 — — — 864 Classified 364 240 96 231 69 659 — 90 1,749 Land Development 79,249 20,583 3,717 1,014 308 1,435 315 — 106,621 Pass 79,150 20,583 1,977 1,014 308 1,435 315 — 104,782 Special Mention 99 — 1,740 — — — — — 1,839 Classified — — — — — — — — — Real Estate - Commercial Mortgage $ 996,574 $ 708,788 $ 1,807,169 $ 1,009,177 $ 622,818 $ 792,959 $ 251,819 $ 35,475 $ 6,224,779 Owner-Occupied 373,353 271,445 339,116 275,077 190,911 304,663 137,023 2,969 1,894,557 Pass 372,183 261,624 330,018 271,228 188,860 299,578 130,847 2,717 1,857,055 Special Mention 948 348 388 850 131 1,538 — — 4,203 Classified 222 9,473 8,710 2,999 1,920 3,547 6,176 252 33,299 Non-Owner Occupied 576,021 427,715 1,447,377 724,161 428,874 484,792 105,645 32,331 4,226,916 Pass 554,095 427,339 1,354,418 718,043 425,291 430,220 105,645 24,360 4,039,411 Special Mention 4,900 21 77,741 814 1,138 8,254 — — 92,868 Classified 17,026 355 15,218 5,304 2,445 46,318 — 7,971 94,637 Land Development 47,200 9,628 20,676 9,939 3,033 3,504 9,151 175 103,306 Pass 47,134 9,585 17,187 9,735 2,783 3,468 9,151 175 99,218 Special Mention 66 24 142 31 59 — — — 322 Classified — 19 3,347 173 191 36 — — 3,766 Installment loans to individuals $ 5 $ — $ — $ — $ — $ — $ — $ — $ 5 Pass 5 — — — — — — — 5 Special Mention — — — — — — — — — Classified — — — — — — — — — Total loans subject to risk rating $ 1,842,890 $ 1,294,460 $ 2,578,061 $ 1,215,971 $ 726,463 $ 877,323 $ 1,206,427 $ 39,514 $ 9,781,109 Pass 1,811,606 1,262,176 2,449,505 1,204,237 718,008 814,591 1,175,583 31,028 9,466,734 Special Mention 8,978 16,152 83,637 2,162 2,596 10,350 7,006 — 130,881 Classified 22,306 16,132 44,919 9,572 5,859 52,382 23,838 8,486 183,494 The following tables present the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented: 29 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Term Loans Amortized Cost Basis by Origination Year 2025 2024 2023 2022 2021 Prior Revolving Loans Revolving Loans Converted to Term Total Loans September 30, 2025 Commercial, Financial, Agricultural $ 30,179 $ — $ 33 $ — $ — $ — $ — $ — $ 30,212 Performing Loans 30,179 — 33 — — — — — 30,212 Non-Performing Loans — — — — — — — — — Lease Financing Receivables $ — $ — $ — $ — $ — $ — $ — $ — $ — Performing Loans — — — — — — — — — Non-Performing Loans — — — — — — — — — Real Estate - Construction $ 38,223 $ 45,868 $ 15,004 $ 8,315 $ 1,950 $ — $ — $ 639 $ 109,999 Residential 38,223 45,868 15,004 8,315 1,950 — — 639 109,999 Performing Loans 38,223 45,868 15,004 8,315 1,950 — — 639 109,999 Non-Performing Loans — — — — — — — — — Commercial — — — — — — — — — Performing Loans — — — — — — — — — Non-Performing Loans — — — — — — — — — Real Estate - 1-4 Family Mortgage $ 282,209 $ 219,627 $ 372,514 $ 819,945 $ 555,821 $ 770,394 $ 611,849 $ 14,140 $ 3,646,499 Primary 277,668 217,026 366,790 802,483 546,389 761,137 — — 2,971,493 Performing Loans 277,243 216,753 360,338 786,987 542,277 740,036 — — 2,923,634 Non-Performing Loans 425 273 6,452 15,496 4,112 21,101 — — 47,859 Home Equity — 116 467 716 219 2,694 611,716 14,140 630,068 Performing Loans — 116 184 716 145 2,172 611,644 12,664 627,641 Non-Performing Loans — — 283 — 74 522 72 1,476 2,427 Rental/Investment — — 146 12,797 2,646 3,027 — — 18,616 Performing Loans — — 146 12,797 2,646 3,027 — — 18,616 Non-Performing Loans — — — — — — — — — Land Development 4,541 2,485 5,111 3,949 6,567 3,536 133 — 26,322 Performing Loans 4,541 2,485 5,111 3,905 6,562 3,536 133 — 26,273 Non-Performing Loans — — — 44 5 — — — 49 Real Estate - Commercial Mortgage $ 2,852 $ 1,159 $ 2,129 $ 1,708 $ 2,363 $ 888 $ — $ — $ 11,099 Owner-Occupied — — — — — 153 — — 153 Performing Loans — — — — — 153 — — 153 Non-Performing Loans — — — — — — — — — Non-Owner Occupied — — — — — — — — — Performing Loans — — — — — — — — — Non-Performing Loans — — — — — — — — — Land Development 2,852 1,159 2,129 1,708 2,363 735 — — 10,946 Performing Loans 2,852 1,138 2,047 1,605 2,363 735 — — 10,740 Non-Performing Loans — 21 82 103 — — — — 206 Installment loans to individuals $ 37,403 $ 18,982 $ 10,962 $ 7,619 $ 4,258 $ 13,027 $ 23,220 $ 204 $ 115,675 Performing Loans 37,403 18,982 10,907 7,555 4,255 12,910 23,220 204 115,436 Non-Performing Loans — — 55 64 3 117 — — 239 Total loans not subject to risk rating $ 390,866 $ 285,636 $ 400,642 $ 837,587 $ 564,392 $ 784,309 $ 635,069 $ 14,983 $ 3,913,484 Performing Loans 390,441 285,342 393,770 821,880 560,198 762,569 634,997 13,507 3,862,704 Non-Performing Loans 425 294 6,872 15,707 4,194 21,740 72 1,476 50,780 30 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Term Loans Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total Loans December 31, 2024 Commercial, Financial, Agricultural $ — $ — $ — $ — $ — $ 20,173 $ — $ — $ 20,173 Performing Loans — — — — — 20,173 — — 20,173 Non-Performing Loans — — — — — — — — — Lease Financing Receivables $ — $ — $ — $ — $ — $ — $ — $ — $ — Performing Loans — — — — — — — — — Non-Performing Loans — — — — — — — — — Real Estate - Construction $ 37,714 $ 23,301 $ 11,210 $ 2,056 $ — $ — $ 108 $ 266 $ 74,655 Residential 37,714 23,301 11,210 2,056 — — 108 266 74,655 Performing Loans 37,514 23,301 11,210 2,056 — — 108 266 74,455 Non-Performing Loans 200 — — — — — — — 200 Commercial — — — — — — — — — Performing Loans — — — — — — — — — Non-Performing Loans — — — — — — — — — Real Estate - 1-4 Family Mortgage $ 154,305 $ 341,962 $ 708,223 $ 492,408 $ 280,382 $ 417,656 $ 499,157 $ 13,692 $ 2,907,785 Primary 152,511 340,032 706,868 490,903 279,683 417,316 — 893 2,388,206 Performing Loans 152,207 336,019 692,470 485,325 269,503 397,394 — 893 2,333,811 Non-Performing Loans 304 4,013 14,398 5,578 10,180 19,922 — — 54,395 Home Equity 30 — — — — 195 499,157 12,799 512,181 Performing Loans 30 — — — — 177 499,052 9,553 508,812 Non-Performing Loans — — — — — 18 105 3,246 3,369 Rental/Investment — — — 256 — 58 — — 314 Performing Loans — — — 256 — 58 — — 314 Non-Performing Loans — — — — — — — — — Land Development 1,764 1,930 1,355 1,249 699 87 — — 7,084 Performing Loans 1,764 1,919 1,355 1,240 699 87 — — 7,064 Non-Performing Loans — 11 — 9 — — — — 20 Real Estate - Commercial Mortgage $ 2,614 $ 2,350 $ 1,902 $ 2,567 $ 1,460 $ 396 $ — $ — $ 11,289 Owner-Occupied — — — — 121 1 — — 122 Performing Loans — — — — 121 1 — — 122 Non-Performing Loans — — — — — — — — — Non-Owner Occupied — — — — 21 — — — 21 Performing Loans — — — — 21 — — — 21 Non-Performing Loans — — — — — — — — — Land Development 2,614 2,350 1,902 2,567 1,318 395 — — 11,146 Performing Loans 2,614 2,350 1,789 2,567 1,317 395 — — 11,032 Non-Performing Loans — — 113 — 1 — — — 114 Installment loans to individuals $ 32,598 $ 11,488 $ 7,971 $ 3,815 $ 1,317 $ 17,261 $ 15,530 $ 29 $ 90,009 Performing Loans 32,561 11,472 7,971 3,802 1,317 17,212 15,529 29 89,893 Non-Performing Loans 37 16 — 13 — 49 1 — 116 Total loans not subject to risk rating $ 227,231 $ 379,101 $ 729,306 $ 500,846 $ 283,159 $ 455,486 $ 514,795 $ 13,987 $ 3,103,911 Performing Loans 226,690 375,061 714,795 495,246 272,978 435,497 514,689 10,741 3,045,697 Non-Performing Loans 541 4,040 14,511 5,600 10,181 19,989 106 3,246 58,214 31 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The following tables disclose gross charge-offs by year of origination for the nine months ended September 30, 2025 and year ended December 31, 2024, respectively: September 30, 2025 2025 2024 2023 2022 2021 Prior Revolving Loans Total Charge-offs Commercial, financial, agricultural $ 5 $ 642 $ 869 $ 538 $ 4,972 $ 978 $ 470 $ 8,474 Lease financing — — 2,356 20 34 26 — 2,436 Real estate – construction: Residential — — 107 6 — — — 113 Real estate – 1-4 family mortgage: Primary — 106 64 188 64 418 — 840 Home equity — — — — 241 132 — 373 Rental/investment — — — — — 1 — 1 Land development — — — — — 26 — 26 Total real estate – 1-4 family mortgage — 106 64 188 305 577 — 1,240 Real estate – commercial mortgage: Owner-occupied — — — — — 1,600 3,941 5,541 Non-owner occupied — — — — — 160 — 160 Total real estate – commercial mortgage — — — — — 1,760 3,941 5,701 Installment loans to individuals — 182 92 34 44 843 3 1,198 Loans, net of unearned income $ 5 $ 930 $ 3,488 $ 786 $ 5,355 $ 4,184 $ 4,414 $ 19,162 December 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Total Charge-offs Commercial, financial, agricultural $ — $ 46 $ 152 $ 879 $ 4 $ 2,975 $ 407 $ 4,463 Lease financing — 336 306 — — — — 642 Real estate – construction: Residential — — 145 — — — — 145 Real estate – 1-4 family mortgage: Primary — 29 195 35 110 102 — 471 Home equity — — 329 — — 121 — 450 Rental/investment — — — — — 45 — 45 Total real estate – 1-4 family mortgage — 29 524 35 110 268 — 966 Real estate – commercial mortgage: Owner-occupied — — 37 — — — — 37 Non-owner occupied — — — — — 5,693 — 5,693 Land development — — — — — 7 — 7 Total real estate – commercial mortgage — — 37 — — 5,700 — 5,737 Installment loans to individuals 36 110 69 15 3 1,623 — 1,856 Loans, net of unearned income $ 36 $ 521 $ 1,233 $ 929 $ 117 $ 10,566 $ 407 $ 13,809 Loans Pledged The FHLB of Dallas maintains a blanket lien on the Company’s loan portfolio to be pledged as collateral for various FHLB products. In addition, the Company also pledges a portion of its non-real estate loan portfolio to the Federal Reserve as collateral at the Discount Window. Note 5 – Allowance for Credit Losses (In Thousands) Allowance for Credit Losses on Loans 32 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The allowance for credit losses is an estimate of expected losses inherent within the Company’s loans held for investment and is maintained at a level believed adequate by management to absorb credit losses inherent in the entire loan portfolio. Management evaluates the adequacy of the allowance for credit losses on a quarterly basis. Expected credit loss inherent in non-cancellable off-balance-sheet credit exposures is accounted for as a separate liability in the Consolidated Balance Sheets. The allowance for credit losses on loans held for investment, as reported in the Company’s Consolidated Balance Sheets, is adjusted by a provision for credit losses, which is reported in earnings, and reduced by net charge-offs. Loan losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed and such losses are reasonably quantifiable. Subsequent recoveries, if any, are credited to the allowance. For more information about the Company’s policies and procedures for determining the amount of the allowance for credit losses, please refer to the discussion in Note 1, “Summary of Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The Company has made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses in the Company’s loan portfolio. As of September 30, 2025 and December 31, 2024, the Company had accrued interest receivable for loans of $ 72,216 and $ 54,395 , respectively, which is recorded in the “Other assets” line item on the Consolidated Balance Sheets. The following tables provide a roll-forward of the allowance for credit losses by loan category and a breakdown of the ending balance of the allowance based on the Company’s credit loss methodology for the periods presented: Commercial Real Estate - Construction Real Estate - 1-4 Family Mortgage Real Estate - Commercial Mortgage Lease Financing Installment Loans to Individuals Total Three Months Ended September 30, 2025 Allowance for credit losses: Beginning balance $ 59,676 $ 21,784 $ 65,703 $ 135,572 $ 1,935 $ 6,100 $ 290,770 Initial impact of purchased credit deteriorated (“PCD”) loans acquired 1,890 — 505 ( 885 ) — — 1,510 Charge-offs ( 2,557 ) ( 8 ) ( 612 ) ( 1,296 ) ( 42 ) ( 539 ) ( 5,054 ) Recoveries 51 6 84 429 90 55 715 Net charge-offs ( 2,506 ) ( 2 ) ( 528 ) ( 867 ) 48 ( 484 ) ( 4,339 ) Provision for (recovery of) credit losses on loans 1,466 2,171 1,146 5,522 ( 503 ) ( 152 ) 9,650 Ending balance $ 60,526 $ 23,953 $ 66,826 $ 139,342 $ 1,480 $ 5,464 $ 297,591 Nine Months Ended September 30, 2025 Allowance for credit losses: Beginning balance $ 38,527 $ 15,126 $ 47,761 $ 90,204 $ 3,368 $ 6,770 $ 201,756 Initial impact of PCD loans acquired during the period 9,030 1,997 769 13,205 — 2 25,003 Charge-offs ( 8,474 ) ( 113 ) ( 1,240 ) ( 5,701 ) ( 2,436 ) ( 1,198 ) ( 19,162 ) Recoveries 1,636 6 154 551 103 444 2,894 Net charge-offs ( 6,838 ) ( 107 ) ( 1,086 ) ( 5,150 ) ( 2,333 ) ( 754 ) ( 16,268 ) Provision for (recovery of) credit losses on loans 19,807 6,937 19,382 41,083 445 ( 554 ) 87,100 Ending balance $ 60,526 $ 23,953 $ 66,826 $ 139,342 $ 1,480 $ 5,464 $ 297,591 Nonaccruing loans with no allowance for credit losses $ 25,041 $ 4,412 $ 4,275 $ 17,480 $ — $ — $ 51,208 33 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Commercial Real Estate - Construction Real Estate - 1-4 Family Mortgage Real Estate - Commercial Mortgage Lease Financing Installment Loans to Individuals Total Three Months Ended September 30, 2024 Allowance for credit losses: Beginning balance $ 44,951 $ 18,896 $ 47,421 $ 77,125 $ 2,515 $ 8,963 $ 199,871 Charge-offs ( 347 ) — ( 256 ) ( 10 ) ( 642 ) ( 649 ) ( 1,904 ) Recoveries 514 — 57 11 8 611 1,201 Net recoveries (charge-offs) 167 — ( 199 ) 1 ( 634 ) ( 38 ) ( 703 ) (Recovery of) provision for credit losses on loans ( 2,065 ) ( 2,240 ) ( 3 ) 4,961 503 54 1,210 Ending balance $ 43,053 $ 16,656 $ 47,219 $ 82,087 $ 2,384 $ 8,979 $ 200,378 Nine Months Ended September 30, 2024 Allowance for credit losses: Beginning balance $ 43,980 $ 18,612 $ 47,283 $ 77,020 $ 2,515 $ 9,168 $ 198,578 Charge-offs ( 882 ) — ( 546 ) ( 5,737 ) ( 642 ) ( 1,379 ) ( 9,186 ) Recoveries 1,385 — 130 116 26 1,181 2,838 Net recoveries (charge-offs) 503 — ( 416 ) ( 5,621 ) ( 616 ) ( 198 ) ( 6,348 ) Provision for (recovery of) credit losses on loans ( 1,430 ) ( 1,956 ) 352 10,688 485 9 8,148 Ending balance $ 43,053 $ 16,656 $ 47,219 $ 82,087 $ 2,384 $ 8,979 $ 200,378 Nonaccruing loans with no allowance for credit losses $ 122 $ — $ 6,898 $ 25,016 $ 614 $ — $ 32,650 The Company recorded a provision for credit losses on loans of $ 9,650 during the third quarter of 2025, as compared to a provision for credit losses on loans of $ 1,210 recorded in the third quarter of 2024. The Company’s allowance for credit losses model considers economic projections, primarily the national unemployment rate and GDP, over a reasonable and supportable period of two years . The provision for credit losses on loans of $ 9,650 in the third quarter of 2025 was primarily driven by loan growth and changes in credit metrics that influenced the Company’s expectations of future losses, including but not limited to the balance of nonperforming loans, underlying collateral values, and historical levels of charge-offs, all considered in the context of the existing balance of the allowance for credit losses. Allowance for Credit Losses on Unfunded Loan Commitments The Company maintains a separate allowance for credit losses on unfunded loan commitments, which is included in the “Other liabilities” line item on the Consolidated Balance Sheets. For more information about the Company’s policies and procedures for determining the amount of the allowance for credit losses on unfunded loan commitments, please refer to the discussion in Note 1, “Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The following table provides a roll-forward of the allowance for credit losses on unfunded loan commitments for the periods presented. 34 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Three Months Ended September 30, 2025 2024 Allowance for credit losses on unfunded loan commitments: Beginning balance $ 23,565 $ 15,718 Provision for (recovery of) credit losses on unfunded loan commitments 800 ( 275 ) Ending balance $ 24,365 $ 15,443 Nine Months Ended September 30, 2025 2024 Allowance for credit losses on unfunded loan commitments: Beginning balance $ 14,943 $ 16,918 Provision for (recovery of) credit losses on unfunded loan commitments 9,422 ( 1,475 ) Ending balance $ 24,365 $ 15,443 The Company recorded a provision for credit losses on unfunded loan commitments of $ 800 during the third quarter of 2025, as compared to a recovery of credit losses on unfunded loan commitments of $ 275 recorded in the third quarter of 2024. The $ 800 provision for credit losses on unfunded commitments in the third quarter of 2025 was primarily driven by growth in the balance of unfunded loan commitments. Note 6 – Other Real Estate Owned (In Thousands) The following table provides details of the Company’s other real estate owned (“OREO”), net of valuation allowances and direct write-downs, as of the dates presented: September 30, 2025 December 31, 2024 Residential real estate $ 5,179 $ 2,966 Commercial real estate 3,711 5,681 Residential land development 15 19 Commercial land development 1,673 7 Total $ 10,578 $ 8,673 Changes in the Company’s OREO were as follows: Total OREO Balance at January 1, 2025 $ 8,673 Acquired OREO 11,109 Transfers of loans 3,971 Impairments ( 623 ) Dispositions ( 12,552 ) Balance at September 30, 2025 $ 10,578 At September 30, 2025 and December 31, 2024, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $ 9,112 and $ 505 , respectively. Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented: 35 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Repairs and maintenance $ 186 $ 62 $ 415 $ 273 Property taxes and insurance 95 24 192 76 Impairments 38 — 623 67 Net losses (gains) on OREO sales 12 ( 28 ) ( 53 ) ( 143 ) Rental income ( 3 ) ( 2 ) ( 7 ) ( 5 ) Total $ 328 $ 56 $ 1,170 $ 268 Note 7 – Goodwill and Other Intangible Assets (In Thousands) The carrying amounts of goodwill by operating segments for the nine months ended September 30, 2025 and 2024 are set forth in the table below. 2025 2024 Community Banks Total Community Banks Insurance Total Balance at January 1 $ 988,898 $ 988,898 $ 988,898 $ 2,767 $ 991,665 Additions to goodwill from The First merger 422,813 422,813 — — — Sale of the insurance agency — — — ( 2,767 ) ( 2,767 ) Balance at September 30 $ 1,411,711 $ 1,411,711 $ 988,898 $ — $ 988,898 The following table provides a summary of finite-lived intangible assets as of the dates presented: Gross Carrying Amount Accumulated Amortization Net Carrying Amount September 30, 2025 Core deposit intangibles $ 242,102 $ ( 89,733 ) $ 152,369 Customer relationship intangible 7,670 ( 4,962 ) 2,708 Total finite-lived intangible assets $ 249,772 $ ( 94,695 ) $ 155,077 December 31, 2024 Core deposit intangibles $ 82,492 $ ( 71,881 ) $ 10,611 Customer relationship intangible 7,670 ( 4,176 ) 3,494 Total finite-lived intangible assets $ 90,162 $ ( 76,057 ) $ 14,105 Amortization expense for finite-lived intangible assets is presented in the table below. Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Amortization expense for: Core deposit intangibles $ 8,412 $ 862 $ 17,852 $ 2,664 Customer relationship intangible 262 298 786 894 Total intangible amortization $ 8,674 $ 1,160 $ 18,638 $ 3,558 36 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The remaining weighted average life of finite-lived intangible assets is 9.00 years at September 30, 2025. The estimated amortization expense of finite-lived intangible assets for the year ending December 31, 2025 and the succeeding four years is summarized as follows: Core Deposit Intangibles Customer Relationship Intangible Total 2025 $ 26,055 $ 1,048 $ 27,103 2026 30,732 860 31,592 2027 27,440 628 28,068 2028 23,337 483 23,820 2029 18,335 331 18,666 Thereafter 44,322 144 $ 44,466 Note 8 – Mortgage Servicing Rights (In Thousands) The Company retains the right to service certain mortgage loans that it sells to secondary market investors. These mortgage servicing rights (“MSRs”) are recognized as a separate asset on the date the corresponding mortgage loan is sold. MSRs are amortized in proportion to and over the period of estimated net servicing income. These servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions, including expected cash flows, prepayment speeds, market discount rates, servicing costs, and other factors, and is subject to significant fluctuation as a result of actual prepayment speeds, default rates and losses differing from estimates thereof. For example, an increase in mortgage interest rates or a decrease in actual prepayment speeds may cause positive adjustments to the valuation of the Company’s MSRs. MSRs are evaluated for impairment (or reversals of prior impairments) quarterly based upon the fair value of the rights as compared to the carrying amount. Impairment is recognized through a valuation allowance in the amount that unamortized cost exceeds fair value. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the valuation allowance may be recorded as an increase to income. Changes in valuation allowances related to servicing rights are reported in “Mortgage banking income” on the Consolidated Statements of Income. There was no valuation adjustment on MSRs during the nine months ended September 30, 2025 or 2024. Changes in the Company’s MSRs were as follows: 2025 2024 Balance at January 1 $ 72,991 $ 91,688 Sale of MSRs ( 7,886 ) (19,539) Capitalization 7,092 6,860 Amortization ( 6,731 ) (7,019) Balance at September 30 $ 65,466 $ 71,990 Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented: 37 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) September 30, 2025 December 31, 2024 Unpaid principal balance $ 5,632,116 $ 5,874,481 Weighted-average prepayment speed (CPR) 10.38 % 8.87 % Estimated impact of a 10% increase $ ( 2,903 ) $ ( 3,066 ) Estimated impact of a 20% increase ( 5,594 ) ( 5,941 ) Discount rate 9.96 % 11.09 % Estimated impact of a 10% increase $ ( 3,292 ) $ ( 3,924 ) Estimated impact of a 20% increase ( 6,337 ) ( 7,557 ) Weighted-average coupon interest rate 4.54 % 4.13 % Weighted-average servicing fee (basis points) 33.96 36.06 Weighted-average remaining maturity (in years) 7.0 7.5 The Company recorded servicing fees of $ 2,841 and $ 3,594 for the three months ended September 30, 2025 and 2024, respectively, and $ 9,498 and $ 11,463 for the nine months ended September 30, 2025 and 2024, respectively, all of which are included in “Mortgage banking income” in the Consolidated Statements of Income. Note 9 - Employee Benefit and Deferred Compensation Plans (In Thousands, Except Share Data) Pension and Post-retirement Medical Plans The Company sponsors a noncontributory defined benefit pension plan, under which participation and benefit accruals ceased as of December 31, 1996, and it provides retiree medical benefits, consisting of the opportunity to purchase coverage at subsidized rates under the Company’s group medical plan. Information related to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits”) and to the post-retirement health and life plan (“Other Benefits”) as of the dates presented is as follows: Pension Benefits Other Benefits Three Months Ended Three Months Ended September 30, September 30, 2025 2024 2025 2024 Interest cost $ 237 $ 227 $ 5 $ 5 Expected return on plan assets ( 267 ) ( 249 ) — — Recognized actuarial loss (gain) 121 129 ( 22 ) ( 23 ) Net periodic benefit cost (return) $ 91 $ 107 $ ( 17 ) $ ( 18 ) Pension Benefits Other Benefits Nine Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Interest cost $ 711 $ 681 $ 15 $ 16 Expected return on plan assets ( 801 ) ( 745 ) — — Recognized actuarial loss (gain) 364 387 ( 66 ) ( 70 ) Net periodic benefit cost (return) $ 274 $ 323 $ ( 51 ) $ ( 54 ) Incentive Compensation Plans 38 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The Company maintains the 2020 Long-Term Incentive Compensation Plan, a long-term equity compensation plan that provides for the award of restricted stock and the grant of stock options. The Company awards performance-based restricted stock to executives and other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees. The following table summarizes the changes in restricted stock as of and for the nine months ended September 30, 2025: Performance-Based Restricted Stock Weighted Average Grant-Date Fair Value Time-Based Restricted Stock Weighted Average Grant-Date Fair Value Nonvested at beginning of period 203,115 $ 34.32 801,181 $ 35.08 Awarded 75,644 36.17 343,814 35.26 Vested — — ( 273,993 ) 36.46 Cancelled — — ( 11,401 ) 35.18 Nonvested at end of period 278,759 $ 34.82 859,601 $ 34.71 The First maintained a long-term equity compensation plan, and awards outstanding as of the date of the merger were converted into adjusted restricted stock awards in respect to Renasant common stock, subject to the same terms and conditions. The following table summarizes the changes in converted restricted stock as of September 30, 2025: Time-Based Restricted Stock Weighted Average Grant-Date Fair Value Nonvested at beginning of period — $ — Awarded (converted) 426,321 33.93 Vested ( 68,433 ) 33.93 Cancelled — — Nonvested at end of period 357,888 $ 33.93 During the nine months ended September 30, 2025, the Company reissued 209,869 shares from treasury in connection with awards of restricted stock. The Company recorded total stock-based compensation expense of $ 5,443 and $ 3,273 for the three months ended September 30, 2025 and 2024, respectively, and $ 13,527 and $ 10,639 for the nine months ended September 30, 2025 and 2024, respectively. There were no stock options granted or outstanding, nor compensation expense associated with options recorded, during the nine months ended September 30, 2025 or 2024. Note 10 – Derivative Instruments (In Thousands) The Company uses certain derivative instruments to meet the needs of customers as well as to manage the interest rate risk associated with certain transactions. Non-hedge derivatives The Company enters into derivative instruments that are not designated as hedging instruments to help its commercial customers manage their exposure to interest rate fluctuations (which are included within the “interest rate contracts” line items in the tables below). To mitigate the interest rate risk associated with these customer contracts, the Company enters into an offsetting derivative contract position. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures. 39 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The Company enters into interest rate lock commitments with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate and adjustable-rate residential mortgage loans. The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors. 40 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented: Balance Sheet September 30, 2025 December 31, 2024 Location Notional Amount Fair Value Notional Amount Fair Value Derivative assets: Interest rate contracts Other Assets $ 1,602,805 $ 30,131 $ 877,051 $ 14,071 Interest rate lock commitments Other Assets 126,983 1,722 64,365 861 Forward commitments Other Assets 106,000 330 174,000 1,242 Totals $ 1,835,788 $ 32,183 $ 1,115,416 $ 16,174 Derivative liabilities: Interest rate contracts Other Liabilities $ 1,603,104 $ 30,178 $ 880,371 $ 14,094 Interest rate lock commitments Other Liabilities 13,528 39 1,829 122 Forward commitments Other Liabilities 189,000 1,304 52,000 86 Totals $ 1,805,632 $ 31,521 $ 934,200 $ 14,302 Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented: Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Interest rate contracts: Included in interest income on loans $ 8,784 $ 3,958 $ 17,765 $ 10,388 Interest rate lock commitments: Included in mortgage banking income ( 1,029 ) ( 261 ) 944 127 Forward commitments Included in mortgage banking income 2,423 ( 1,167 ) ( 2,129 ) 1,184 Total $ 10,178 $ 2,530 $ 16,580 $ 11,699 Derivatives designated as cash flow hedges Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. The Company uses both interest rate swap contracts and interest rate collars in an effort to manage future interest rate exposure on borrowings and loans, respectively. The swap hedging strategy converts the variable interest rate on the forecasted borrowings to a fixed interest rate. The collar hedging strategy limits the benefit to interest income when rates exceed the cap but protects interest income from interest rate fluctuations below the floor strike rate. The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented: Balance Sheet September 30, 2025 December 31, 2024 Location Notional Amount Fair Value Notional Amount Fair Value Derivative assets: Interest rate swaps Other Assets $ 130,000 $ 17,043 $ 130,000 $ 22,780 Interest rate collars Other Assets 450,000 206 — — Total $ 580,000 $ 17,249 $ 130,000 $ 22,780 Derivative liabilities: Interest rate collars Other Liabilities $ — $ — $ 450,000 $ 598 Totals $ — $ — $ 450,000 $ 598 Changes in fair value of cash flow hedges are, to the extent that the hedging relationship is effective, recorded as other comprehensive income and are subsequently recognized in earnings at the same time that the hedged item is recognized in 41 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) earnings. The assessment of the effectiveness of the hedging relationship is evaluated under the hypothetical derivative method. The impact on other comprehensive income for the nine months ended September 30, 2025 and 2024 is discussed in Note 13, “Other Comprehensive Income.” Derivatives designated as fair value hedges Fair value hedges protect against changes in the fair value of an asset, liability, or firm commitment. Gains and losses on the derivative instrument and the offsetting gains and losses on the hedged item are recognized in current earnings. The Company enters into interest rate swap agreements to manage interest rate exposure on certain of the Company’s fixed-rate subordinated notes. The agreements convert a fixed rate of interest to a variable rate of interest based on SOFR. The Company also utilizes fair value hedges to manage interest rate exposure on certain fixed rate available-for-sale securities. The agreements convert the fixed interest rates to variable interest rates based on SOFR. The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented: Balance Sheet September 30, 2025 December 31, 2024 Location Notional Amount Fair Value Notional Amount Fair Value Derivative liabilities: Interest rate swaps - subordinated notes Other Liabilities $ 100,000 $ 12,597 $ 100,000 $ 17,369 Interest rate swaps - securities Other Liabilities $ 22,410 $ 56 $ — $ — Totals $ 122,410 $ 12,653 $ 100,000 $ 17,369 The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented: Amount of Gain (Loss) Recognized in Income Income Statement Three Months Ended September 30, Nine Months Ended September 30, Location 2025 2024 2025 2024 Derivative liabilities: Interest rate swaps - subordinated notes Interest Expense $ 842 $ 4,042 $ 4,771 $ 2,705 Interest rate swaps - securities Interest Income ( 56 ) — ( 56 ) — Derivative liabilities - hedged items: Interest rate swaps - subordinated notes Interest Expense $ ( 842 ) $ ( 4,042 ) $ ( 4,771 ) $ ( 2,705 ) Interest rate swaps - securities Interest Income 56 — 56 — The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented: Carrying Amount of the Hedged Item Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Item Balance Sheet Location September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 Long-term debt $ 86,549 $ 81,648 $ 12,597 $ 17,369 Securities available for sale 17,081 — 56 — Credit Derivatives The Company has both bought and sold credit protection in the form of risk participation agreements. These risk participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business to help the Company’s commercial customers manage their exposure to interest rate fluctuations. Risk participations in which credit protection has been purchased entitle the Company to receive a payment from the counterparty if the customer fails to make payment on any amounts due to the Company upon early termination of the swap transaction. The Company’s bought risk participation agreements have maturities between 2028 and 2032. For contracts where the Company sold credit protection, it would be required to make payment to the counterparty if the customer fails to make payment on any amounts due to the counterparty 42 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) upon early termination of the swap transaction. The Company’s sold risk participation agreements have maturities between 2025 and 2032. The maximum potential amount of future payments under these risk participation agreements as of September 30, 2025 was approximately $ 2,306 . This scenario occurs if variable interest rates were at zero percent and all counterparties defaulted with zero recovery. The fair value of risk participation agreements at September 30, 2025 and 2024 was immaterial. Offsetting Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when the “right of offset” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements; however, the Company has not elected to offset such financial instruments in the Consolidated Balance Sheets. The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented: Offsetting Derivative Assets Offsetting Derivative Liabilities September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 Gross amounts recognized $ 22,128 $ 34,505 $ 18,503 $ 28,550 Gross amounts offset in the Consolidated Balance Sheets — — — — Net amounts presented in the Consolidated Balance Sheets 22,128 34,505 18,503 28,550 Gross amounts not offset in the Consolidated Balance Sheets Financial instruments - derivative assets available for offset 17,530 27,939 17,530 27,939 Financial collateral (cash) pledged — — 520 611 Net amounts $ 4,598 $ 6,566 $ 453 $ — Note 11 – Income Taxes For the nine months ended September 30, 2025 and 2024, the effective tax rate was 21.23 % and 22.80 %, respectively. The Company’s sale of its insurance business in the third quarter of 2024 resulted in a significant discrete tax expense during such period, which contributed to the year-over-year decrease in the Company’s effective tax rate. The Company calculated the provision for income taxes by applying the estimated annual effective tax rate to year-to-date pre-tax income, and adjusting for discrete items that occurred during the period. Note 12 – Fair Value Measurements (In Thousands) Fair Value Measurements and the Fair Level Hierarchy Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” provides guidance for using fair value to measure assets and liabilities and establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to a valuation based on quoted prices in active markets for identical assets and liabilities (Level 1), next priority to a valuation based on quoted prices in active markets for similar assets and liabilities and/or based on assumptions that are observable in the market (Level 2), and the lowest priority to a valuation based on assumptions that are not observable in the market (Level 3). Recurring Fair Value Measurements The Company carries certain assets and liabilities at fair value on a recurring basis in accordance with applicable standards. The Company’s recurring fair value measurements are based on the requirement to carry such assets and liabilities at fair value or the Company’s election to carry certain eligible assets at fair value. Assets and liabilities that are required to be carried at fair value on a recurring basis include securities available for sale and derivative instruments. The Company has elected to carry 43 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) mortgage loans held for sale at fair value on a recurring basis as permitted under the guidance in ASC 825, “Financial Instruments” (“ASC 825”). The following methods and assumptions are used by the Company to estimate the fair values of the Company’s financial assets and liabilities that are measured on a recurring basis: Securities available for sale : Securities available for sale consist primarily of debt securities, such as obligations of U.S. Government agencies and corporations, obligations of states and political subdivisions and mortgage-backed securities. Where quoted market prices in active markets are available, securities are classified within Level 1 of the fair value hierarchy. If quoted prices from active markets are not available, fair values are based on quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active, or model-based valuation techniques where all significant assumptions are observable in the market. Such instruments are classified within Level 2 of the fair value hierarchy. When assumptions used in model-based valuation techniques are not observable in the market, the assumptions used by management reflect estimates of assumptions used by other market participants in determining fair value. When there is limited transparency around the inputs to the valuation, the instruments are classified within Level 3 of the fair value hierarchy. Derivative instruments : Most of the Company’s derivative contracts are extensively traded in over-the-counter markets and are valued using discounted cash flow models which incorporate observable market-based inputs including current market interest rates, credit spreads, and other factors. Such instruments are categorized within Level 2 of the fair value hierarchy and include interest rate swaps, interest rate collars and other interest rate contracts such as risk participations, interest rate caps and/or floors. The Company’s interest rate lock commitments are valued using current market prices for mortgage-backed securities with similar characteristics, adjusted for certain factors including servicing and risk. The value of the Company’s forward commitments is based on current prices for securities backed by similar types of loans. Because these assumptions are observable in active markets, the Company’s interest rate lock commitments and forward commitments are categorized within Level 2 of the fair value hierarchy. Mortgage loans held for sale in loans held for sale : The Company has elected to carry mortgage loans held for sale at fair value on a recurring basis under the fair value option. Mortgage loans held for sale are loans intended to be sold on the secondary market to investors or other financial institutions. The fair value of these instruments is derived from current market pricing for similar loans, adjusted for differences in loan characteristics, including servicing and risk. Because the valuation is based on external pricing of similar instruments, mortgage loans held for sale are classified within Level 2 of the fair value hierarchy. The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented: Level 1 Level 2 Level 3 Totals September 30, 2025 Financial assets: Securities available for sale $ — $ 2,512,650 $ — $ 2,512,650 Derivative instruments — 49,432 — 49,432 Mortgage loans held for sale in loans held for sale — 286,779 — 286,779 Total financial assets $ — $ 2,848,861 $ — $ 2,848,861 Financial liabilities: Derivative instruments: $ — $ 44,174 $ — $ 44,174 44 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Level 1 Level 2 Level 3 Totals December 31, 2024 Financial assets: Securities available for sale $ — $ 831,013 $ — $ 831,013 Derivative instruments — 38,954 — 38,954 Mortgage loans held for sale in loans held for sale — 246,171 — 246,171 Total financial assets $ — $ 1,116,138 $ — $ 1,116,138 Financial liabilities: Derivative instruments $ — $ 32,268 $ — $ 32,268 The Company reviews fair value hierarchy classifications on a quarterly basis. Changes in the Company’s ability to observe inputs to the valuation may cause reclassification of certain assets or liabilities within the fair value hierarchy. Transfers between levels of the hierarchy are deemed to have occurred at the end of period. There were no such transfers between levels of the fair value hierarchy during the nine months ended September 30, 2025. For the nine months ended September 30, 2025 and 2024, respectively, there were no gains or losses included in earnings that were attributable to the change in unrealized gains or losses related to assets or liabilities held at the end of each respective period that were measured on a recurring basis using significant unobservable inputs. Nonrecurring Fair Value Measurements Certain assets and liabilities may be recorded at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically are a result of the application of the lower of cost or market accounting or a write-down occurring during the period. The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets as of the dates presented and the level within the fair value hierarchy each is classified: September 30, 2025 Level 1 Level 2 Level 3 Totals Collateral dependent loans $ — $ — $ 82,144 $ 82,144 OREO — — 3,307 3,307 Total $ — $ — $ 85,451 $ 85,451 December 31, 2024 Level 1 Level 2 Level 3 Totals Collateral dependent loans $ — $ — $ 38,374 $ 38,374 OREO — — $ 3,666 3,666 Total $ — $ — $ 42,040 $ 42,040 The following methods and assumptions are used by the Company to estimate the fair values of the Company’s financial assets measured on a nonrecurring basis: Collateral dependent loans : Collateral dependent loans are reviewed and evaluated for credit losses on at least a quarterly basis for additional impairment and adjusted accordingly, taking into account the fair value of the collateral less estimated selling costs. Collateral may be real estate and/or business assets including but not limited to equipment, inventory and accounts receivable. The fair value of real estate is determined based on appraisals by qualified licensed appraisers. The fair value of the business assets is generally based on amounts reported on the business’s financial statements. Appraised and reported values may be adjusted based on changes in market conditions from the time of valuation and management’s knowledge of the client and the client’s business. Since not all valuation inputs are observable, these nonrecurring fair value determinations are classified as Level 3. Collateral dependent loans that were measured or re-measured at fair value had a carrying value of $ 104,716 and $ 53,157 at September 30, 2025 and December 31, 2024, respectively, and a specific reserve for these loans of $ 22,572 and $ 14,782 was included in the allowance for credit losses as of such dates. Other real estate owned : OREO is comprised of commercial and residential real estate obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is recorded at the fair value of the real estate less estimated costs to sell. Subsequently, it may be necessary to record nonrecurring fair value adjustments for declines in fair value. Fair value, 45 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) when recorded, is determined based on appraisals by qualified licensed appraisers and adjusted for management’s estimates of costs to sell. Accordingly, values for OREO are classified as Level 3. The following table presents, as of the dates presented, OREO measured at fair value on a nonrecurring basis that was still held on the Consolidated Balance Sheets at period-end: September 30, 2025 December 31, 2024 Carrying amount prior to remeasurement $ 3,980 $ 4,038 Impairment recognized in results of operations ( 673 ) ( 372 ) Fair value $ 3,307 $ 3,666 Mortgage servicing rights : Mortgage servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, prepayment speeds, servicing costs, and other factors. Because these factors are not all observable and include management’s assumptions, mortgage servicing rights are classified within Level 3 of the fair value hierarchy. Mortgage servicing rights were carried at amortized cost at September 30, 2025 and December 31, 2024. There were no valuation adjustments on MSRs during the nine months ended September 30, 2025 or 2024. The following table presents information as of September 30, 2025 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis: Financial instrument Fair Value Valuation Technique Significant Unobservable Inputs Range of Inputs Collateral dependent loans, net of allowance for credit losses $ 82,144 Appraised value of collateral less estimated costs to sell Estimated costs to sell 4 - 10 % OREO $ 3,307 Appraised value of property less estimated costs to sell Estimated costs to sell 4 - 10 % Fair Value Option The Company has elected to measure all mortgage loans held for sale at fair value under the fair value option as permitted under ASC 825. Electing to measure these assets at fair value reduces certain timing differences and better matches the changes in fair value of the loans with changes in the fair value of derivative instruments used to economically hedge them. A net gain of $ 4,503 and $ 1,826 resulting from fair value changes of these mortgage loans were recorded in income during the nine months ended September 30, 2025 and 2024, respectively. These amounts do not reflect changes in fair values of related derivative instruments used to economically hedge exposure to market-related risks associated with these mortgage loans. The change in fair value of both mortgage loans held for sale and the related derivative instruments are recorded in “Mortgage banking income” in the Consolidated Statements of Income. The Company’s valuation of mortgage loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these loans, valuation adjustments attributable to instrument-specific credit risk is nominal. Interest income on mortgage loans held for sale measured at fair value is accrued as it is earned based on contractual rates and is reflected in loan interest income on the Consolidated Statements of Income. The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of September 30, 2025 and December 31, 2024: 46 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Aggregate Fair Value Aggregate Unpaid Principal Balance Difference September 30, 2025 Mortgage loans held for sale measured at fair value $ 286,779 $ 280,323 $ 6,456 December 31, 2024 Mortgage loans held for sale measured at fair value $ 246,171 $ 244,218 $ 1,953 Fair Value of Financial Instruments The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented: Fair Value As of September 30, 2025 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 1,083,785 $ 1,083,785 $ — $ — $ 1,083,785 Securities held to maturity 1,051,884 — 976,690 — 976,690 Securities available for sale 2,512,650 — 2,512,650 — 2,512,650 Loans held for sale 286,779 — 286,779 — 286,779 Loans, net 18,727,930 — — 18,619,999 18,619,999 Mortgage servicing rights 65,466 — — 81,796 81,796 Derivative instruments 49,432 — 49,432 — 49,432 Financial liabilities Deposits $ 21,424,555 $ 21,413,437 $ — $ 21,413,437 Short-term borrowings 606,063 — 606,063 — 606,063 Junior subordinated debentures 140,355 — 125,831 — 125,831 Subordinated notes 418,523 — 409,075 — 409,075 Derivative instruments 44,174 — 44,174 — 44,174 47 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Fair Value As of December 31, 2024 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 1,092,032 $ 1,092,032 $ — $ — $ 1,092,032 Securities held to maturity 1,126,112 — 1,002,544 — 1,002,544 Securities available for sale 831,013 — 831,013 — 831,013 Loans held for sale 246,171 — 246,171 — 246,171 Loans, net 12,683,264 — — 12,340,638 12,340,638 Mortgage servicing rights 72,991 — — 96,290 96,290 Derivative instruments 38,954 — 38,954 — 38,954 Financial liabilities Deposits $ 14,572,612 $ — $ 14,570,304 $ — $ 14,570,304 Short-term borrowings 108,018 — 108,018 — 108,018 Junior subordinated debentures 113,916 — 100,668 — 100,668 Subordinated notes 316,698 — 295,868 — 295,868 Derivative instruments 32,268 — 32,268 — 32,268 48 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Note 13 – Other Comprehensive Income (In Thousands) Changes in the components of other comprehensive income, net of tax, were as follows for the periods presented: Pre-Tax Tax Expense (Benefit) Net of Tax Three months ended September 30, 2025 Securities available for sale: Unrealized holding gains on securities $ 15,440 $ 3,855 $ 11,585 Amortization of unrealized holding losses on securities transferred to the held to maturity category 3,005 768 2,237 Total securities available for sale 18,445 4,623 13,822 Derivative instruments: Unrealized holding losses on derivative instruments ( 1,376 ) ( 350 ) ( 1,026 ) Total derivative instruments ( 1,376 ) ( 350 ) ( 1,026 ) Defined benefit pension and post-retirement benefit plans: Amortization of net actuarial loss recognized in net periodic pension cost 99 24 75 Total defined benefit pension and post-retirement benefit plans 99 24 75 Total other comprehensive income $ 17,168 $ 4,297 $ 12,871 Three months ended September 30, 2024 Securities available for sale: Unrealized holding gains on securities $ 31,313 $ 7,872 $ 23,441 Amortization of unrealized holding losses on securities transferred to the held to maturity category 3,131 800 2,331 Total securities available for sale 34,444 8,672 25,772 Derivative instruments: Unrealized holding losses on derivative instruments ( 1,116 ) ( 288 ) ( 828 ) Total derivative instruments ( 1,116 ) ( 288 ) ( 828 ) Defined benefit pension and post-retirement benefit plans: Amortization of net actuarial loss recognized in net periodic pension cost 106 28 78 Total defined benefit pension and post-retirement benefit plans 106 28 78 Total other comprehensive income $ 33,434 $ 8,412 $ 25,022 49 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Pre-Tax Tax Expense (Benefit) Net of Tax Nine months ended September 30, 2025 Securities available for sale: Unrealized holding gains on securities $ 51,167 $ 12,854 $ 38,313 Amortization of unrealized holding losses on securities transferred to the held to maturity category 8,889 2,274 6,615 Total securities available for sale 60,056 15,128 44,928 Derivative instruments: Unrealized holding losses on derivative instruments ( 4,988 ) ( 1,275 ) ( 3,713 ) Total derivative instruments ( 4,988 ) ( 1,275 ) ( 3,713 ) Defined benefit pension and post-retirement benefit plans: Amortization of net actuarial loss recognized in net periodic pension cost 298 75 223 Total defined benefit pension and post-retirement benefit plans 298 75 223 Total other comprehensive income $ 55,366 $ 13,928 $ 41,438 Nine months ended September 30, 2024 Securities available for sale: Unrealized holding losses on securities $ 25,769 $ 6,494 $ 19,275 Amortization of unrealized holding losses on securities transferred to the held to maturity category 9,658 2,468 7,190 Total securities available for sale 35,427 8,962 26,465 Derivative instruments: Unrealized holding losses on derivative instruments ( 2,069 ) ( 530 ) ( 1,539 ) Total derivative instruments ( 2,069 ) ( 530 ) ( 1,539 ) Defined benefit pension and post-retirement benefit plans: Amortization of net actuarial loss recognized in net periodic pension cost 317 81 236 Total defined benefit pension and post-retirement benefit plans 317 81 236 Total other comprehensive income $ 33,675 $ 8,513 $ 25,162 The accumulated balances for each component of other comprehensive loss, net of tax, were as follows as of the dates presented: September 30, 2025 December 31, 2024 Unrealized losses on securities $ ( 108,006 ) $ ( 152,934 ) Unrealized gains on derivative instruments 13,716 17,429 Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations ( 6,880 ) ( 7,103 ) Total accumulated other comprehensive loss $ ( 101,170 ) $ ( 142,608 ) 50 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Note 14 – Net Income Per Common Share (In Thousands, Except Share and Per Share Data) Basic net income per common share is calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the pro forma dilution of shares outstanding, assuming outstanding service-based restricted stock awards fully vested, calculated in accordance with the treasury method. Basic and diluted net income per common share calculations are as follows for the periods presented: Three Months Ended September 30, 2025 2024 Basic Net income applicable to common stock $ 59,788 $ 72,455 Average common shares outstanding 94,623,551 61,217,094 Net income per common share - basic $ 0.63 $ 1.18 Diluted Net income applicable to common stock $ 59,788 $ 72,455 Average common shares outstanding 94,623,551 61,217,094 Effect of dilutive stock-based compensation 661,052 415,354 Average common shares outstanding - diluted 95,284,603 61,632,448 Net income per common share - diluted $ 0.63 $ 1.18 Nine Months Ended September 30, 2025 2024 Basic Net income applicable to common stock $ 102,324 $ 150,711 Average common shares outstanding 84,403,694 57,934,806 Net income per common share - basic $ 1.21 $ 2.60 Diluted Net income applicable to common stock $ 102,324 $ 150,711 Average common shares outstanding 84,403,694 57,934,806 Effect of dilutive stock-based compensation 530,696 362,748 Average common shares outstanding - diluted 84,934,390 58,297,554 Net income per common share - diluted $ 1.20 $ 2.59 Stock-based compensation awards that could potentially dilute basic net income per common share in the future that were not included in the computation of diluted net income per common share due to their anti-dilutive effect were as follows for the periods presented: Three Months Ended September 30, 2025 2024 Number of shares 1,000 1,000 Nine Months Ended September 30, 2025 2024 Number of shares 1,794 1,000 51 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Note 15 – Regulatory Matters (In Thousands) The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Federal Reserve, the FDIC and the Office of the Comptroller of the Currency have issued guidelines governing the levels of capital that bank holding companies and banks must maintain. Those guidelines specify capital tiers, which include the following classifications: Capital Tiers Tier 1 Capital to Average Assets (Leverage) Common Equity Tier 1 to Risk - Weighted Assets Tier 1 Capital to Risk - Weighted Assets Total Capital to Risk - Weighted Assets Well capitalized 5 % or above 6.5 % or above 8 % or above 10 % or above Adequately capitalized 4 % or above 4.5 % or above 6 % or above 8 % or above Undercapitalized Less than 4 % Less than 4.5 % Less than 6 % Less than 8 % Significantly undercapitalized Less than 3 % Less than 3 % Less than 4 % Less than 6 % Critically undercapitalized Tangible Equity / Total Assets less than 2 % The following table provides the capital, risk-based capital and leverage ratios for the Company and for the Bank as of the dates presented: September 30, 2025 December 31, 2024 Amount Ratio Amount Ratio Renasant Corporation Tier 1 Capital to Average Assets (Leverage) $ 2,364,465 9.46 % $ 1,935,522 11.34 % Common Equity Tier 1 Capital to Risk-Weighted Assets 2,364,465 11.04 % 1,825,197 12.73 % Tier 1 Capital to Risk-Weighted Assets 2,364,465 11.04 % 1,935,522 13.50 % Total Capital to Risk-Weighted Assets 3,187,027 14.88 % 2,449,129 17.08 % Renasant Bank Tier 1 Capital to Average Assets (Leverage) $ 2,526,336 10.12 % $ 1,843,123 10.80 % Common Equity Tier 1 Capital to Risk-Weighted Assets 2,526,336 11.80 % 1,843,123 12.85 % Tier 1 Capital to Risk-Weighted Assets 2,526,336 11.80 % 1,843,123 12.85 % Total Capital to Risk-Weighted Assets 2,794,398 13.05 % 2,022,737 14.10 % Note 16 – Segment Reporting (In Thousands) The operations of the Company’s reportable segments are described as follows: • The Community Banks segment delivers a complete range of banking and financial services to individuals and small to medium-sized businesses including checking and savings accounts, business and personal loans, asset-based lending, factoring, equipment leasing and treasury management services, as well as safe deposit and night depository facilities. • The Wealth Management segment, through the Trust division, offers a broad range of fiduciary services including the administration (as trustee or in other fiduciary or representative capacities) of benefit plans, management of trust accounts, inclusive of personal and corporate benefit accounts, and custodial accounts, as well as accounting and money management for trust accounts. In addition, the Wealth Management segment, through the Financial Services division, provides specialized products and services to customers, which include fixed and variable annuities, mutual funds and other 52 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) investment services through a third party broker-dealer. The Financial Services division also provides administrative and compliance services for certain mutual funds. For periods prior to the third quarter of 2024, the Company maintained an Insurance segment that included a full service insurance agency. Effective July 1, 2024, the Bank sold substantially all of the assets of its Insurance segment. The Company’s reportable segments are determined by the Chief Executive Officer, who is the designated chief operating decision maker (“CODM”), based upon information provided about the Company’s products and services. The CODM evaluates the financial performance of the segments by evaluating revenue streams, significant expenses and budget to actual results, and provides guidance in strategy and the allocation of resources. In order to give the CODM a more precise indication of the income and expenses controlled by each segment, the results of operations for each segment reflect its own direct revenues and expenses. Indirect revenues and expenses, including but not limited to income from the Company’s investment portfolio, as well as certain costs associated with data processing and back office functions, primarily support the operations of the community banks and, therefore, are included in the results of the Community Banks segment. Included in “Other” are the operations of the holding company and other eliminations that are necessary for purposes of reconciling to the consolidated amounts. Accounting policies for each segment are the same as those described in Note 1, “Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The following tables provide financial information for the Company’s operating segments as of and for the periods presented: Community Banks Wealth Management Other Consolidated Three months ended September 30, 2025 Total interest income $ 351,075 $ — $ 23 $ 351,098 Total interest expense 119,100 — 8,478 127,578 Net interest income (loss) $ 231,975 $ — $ ( 8,455 ) $ 223,520 Provision for credit losses 10,450 — — 10,450 Noninterest income (loss) 35,656 10,861 ( 491 ) 46,026 Salaries and employee benefits 94,288 4,694 — 98,982 Net occupancy and equipment 18,132 249 34 18,415 Other segment expenses (1) 62,834 3,144 455 66,433 Income (loss) before income taxes $ 81,927 $ 2,774 $ ( 9,435 ) $ 75,266 Income tax expense (benefit) 17,698 198 ( 2,418 ) 15,478 Net income (loss) $ 64,229 $ 2,576 $ ( 7,017 ) $ 59,788 Total assets $ 26,715,563 $ 7,031 $ 3,571 $ 26,726,165 Goodwill 1,411,711 — — 1,411,711 53 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) Community Banks Wealth Management Other Consolidated Three months ended September 30, 2024 Total interest income $ 229,028 $ 15 $ — $ 229,043 Total interest expense 91,168 — 6,877 98,045 Net interest income (loss) $ 137,860 $ 15 $ ( 6,877 ) $ 130,998 Provision for credit losses 935 — — 935 Noninterest income (loss) 83,244 6,447 ( 392 ) 89,299 Salaries and employee benefits 67,852 3,455 — 71,307 Net occupancy and equipment 11,227 188 — 11,415 Other segment expenses (1) 37,956 868 437 39,261 Income (loss) before income taxes $ 103,134 $ 1,951 $ ( 7,706 ) $ 97,379 Income tax expense (benefit) 26,867 47 ( 1,990 ) 24,924 Net income (loss) $ 76,267 $ 1,904 $ ( 5,716 ) $ 72,455 Total assets (liabilities) $ 17,959,839 $ 1,163 $ ( 2,162 ) $ 17,958,840 Goodwill 988,898 — — 988,898 Community Banks Wealth Management Other Consolidated Nine months ended September 30, 2025 Total interest income $ 915,257 $ — $ 69 $ 915,326 Total interest expense 314,976 — 23,774 338,750 Net interest income (loss) $ 600,281 $ — $ ( 23,705 ) $ 576,576 Provision for credit losses 96,522 — — 96,522 Noninterest income (loss) 106,441 25,742 ( 1,428 ) 130,755 Salaries and employee benefits 258,427 12,054 — 270,481 Net occupancy and equipment 46,794 667 67 47,528 Other segment expenses (1) 156,796 5,248 857 162,901 Income (loss) before income taxes $ 148,183 $ 7,773 $ ( 26,057 ) $ 129,899 Income tax expense (benefit) 33,818 435 ( 6,678 ) 27,575 Net income (loss) $ 114,365 $ 7,338 $ ( 19,379 ) $ 102,324 Total assets $ 26,715,563 $ 7,031 $ 3,571 $ 26,726,165 Goodwill 1,411,711 — — 1,411,711 Community Banks Insurance Wealth Management Other Consolidated Nine months ended September 30, 2024 Total interest income $ 661,444 $ 942 $ 47 — $ 662,433 Total interest expense 262,474 — — 20,645 283,119 Net interest income (loss) $ 398,970 $ 942 $ 47 $ ( 20,645 ) $ 379,314 Provision for credit losses 6,673 — — — 6,673 Noninterest income (loss) 145,179 6,473 18,933 ( 1,143 ) 169,442 Salaries and employee benefits 199,969 3,626 9,913 — 213,508 Net occupancy and equipment 33,875 189 584 — 34,648 Other segment expenses (2) 93,697 577 3,228 1,213 98,715 Income (loss) before income taxes $ 209,935 $ 3,023 $ 5,255 $ ( 23,001 ) $ 195,212 Income tax expense (benefit) 49,507 785 147 ( 5,937 ) 44,502 Net income (loss) $ 160,428 $ 2,238 $ 5,108 $ ( 17,064 ) $ 150,710 Total assets (liabilities) $ 17,959,839 $ — $ 1,163 $ ( 2,162 ) $ 17,958,840 Goodwill 988,898 — — — 988,898 54 Table of Contents Renasant Corporation and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) (1) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications, merger and conversion related expenses and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses. (2) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications, merger and conversion related expenses and other miscellaneous expenses. Other segment expenses for Insurance included data processing, legal and professional fees, advertising and public relations, communications and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses. Note 17 – Subsequent Events (In Thousands, Except Share Amounts) Subordinated Debt Redemption On October 1, 2025, the Company redeemed $ 60,000 in subordinated notes assumed in connection with its merger with The First. 55 Table of Contents