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Item 8. Financial Statements and Supplementary Data

2026-03-02 compared with 2025-02-26 · 1041 added, 836 removed, 1690 unchanged (53% of the section changed)

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The Consolidated Financial Statements of the Company meeting the requirements of Regulation S-X are included on the succeeding pages of this Item.

All schedules have been omitted because they are not required or are not applicable.

RENASANT CORPORATION AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS

Years Ended December 31, 2024, 2023 and 2022

Report on Management’s Assessment of Internal Control over Financial Reporting

Reports of Independent Registered Public Accounting Firm ( Horne LLP , Memphis, TN PCAOB ID #:

Consolidated Balance Sheets

Consolidated Statements of Income

Consolidated Statements of Comprehensive Income

Consolidated Statements of Changes in Shareholders’ Equity

Consolidated Statements of Cash Flows

Reports of Independent Registered Public Accounting Firm ( BDO USA, P.C (formerly Horne LLP) , Memphis, TN PCAOB ID #:

Consolidated Balance Sheet s a t December 31, 2025 and 202 4

Consolidated Statements of Incom e for the Years Ended December 31, 2025, 2024 and 2023

Consolidated Statements of Comprehensive Incom e for the Years Ended Dec e m ber 31, 2025, 2024 an d 2023

Consolidated Statements of Changes in Shareholders’ Equit y for the Years En ded December 31, 2025, 2024 and 2023

Consolidated Statements of Cash Flow s for the Years Ended Dec ember 31, 2025, 2024 and 2023

Notes to Consolidated Financial Statements

Report on Management’s Assessment of Internal Control over Financial Reporting

Renasant Corporation (the “Company”) is responsible for the preparation, integrity and fair presentation of the consolidated financial statements included in this annual report.

The consolidated financial statements and notes included in this annual report have been prepared in conformity with accounting principles generally accepted in the United States and necessarily include some amounts that are based on management’s best estimates and judgments.

Management of the Company is responsible for establishing and maintaining effective internal control over financial reporting designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States.

The Company’s internal control over financial reporting includes those policies and procedures that:

(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company;

and (3) provide reasonable assurance regarding prevention or timely detection of any unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.

The system of internal control over financial reporting as it relates to the financial statements is evaluated for effectiveness by management and tested for reliability through a program of internal audits.

Actions are taken to correct potential deficiencies as they are identified.

Any system of internal control, no matter how well designed, has inherent limitations, including the possibility that a control can be circumvented or overridden, and misstatements due to error or fraud may occur and not be detected.

Also, because of changes in conditions, internal control effectiveness may vary over time.

Accordingly, even an effective system of internal control will provide only reasonable assurance with respect to financial statement preparation.

Management, with the participation of the Company’s principal executive officer and principal financial officer, conducted an assessment of the effectiveness of the Company’s system of internal control over financial reporting as of December 31, 2024, based on criteria for effective internal control over financial reporting described in the “Internal Control - Integrated Framework,” (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Based on this assessment, management has concluded that, as of December 31, 2024, the Company’s system of internal control over financial reporting is effective and meets the criteria of the “Internal Control – Integrated Framework.” HORNE LLP, the Company’s independent registered public accounting firm that has audited the Company’s financial statements included in this annual report, has issued an attestation report on the Company’s internal control over financial reporting which is included herein.

Mitchell Waycaster James C.

Chief Executive Officer Executive Vice President and

Chief Financial Officer

February 26, 2025

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of Renasant Corporation

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Renasant Corporation (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity, and cash flows, for each of the three years in the period ended December 31, 2024, and the related notes to the consolidated financial statements (collectively, referred to as the “financial statements”).

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the “PCAOB”), the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in the Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013, and our report dated February 26, 2025, expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.

Shareholders and Board of Directors

Renasant Corporation

Tupelo, Mississippi

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheets of Renasant Corporation (the “Company”) as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity, and cash flows, for each of the three years in the period ended December 31, 2025, and the related notes (collectively referred to as the “consolidated financial statements”).

In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025 , in conformity with accounting principles generally accepted in the United States of America.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and our report dated March 2, 2026, expressed an adverse opinion thereon.

Basis for Opinion

These financial statements are the responsibility of the Company’s management.

Our responsibility is to express an opinion on the Company’s financial statements based on our audits.

We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with U.S.

These consolidated financial statements are the responsibility of the Company’s management.

Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits.

We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S.

federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB.

Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks.

Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.

Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks.

Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements.

Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated to the audit committee and that:

(1) relates to accounts or disclosures that are material to the financial statements and (2) involves especially challenging, subjective or complex judgments.

The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing separate opinions on the critical audit matter or on the accounts or disclosures to which it relates.

Critical Audit Matters

The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that:

(1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments.

The communication of the critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Allowance for Credit Losses - Loans

Description of the Matter

As described in Notes 1 and 4 to the financial statements, the Company’s allowance for credit losses (“ACL”) is a valuation allowance that reflects the Company’s best estimate of expected credit losses inherent within the Company’s loans held for investment portfolio and is maintained at a level believed adequate by management to absorb credit losses inherent in the entire loan portfolio in accordance with Accounting Standards Codification ASC 326:

Financial Instruments – Credit Losses.

The ACL is measured over the contractual life of loans held for investment and is estimated using relevant available information relating to past events, current conditions, and reasonable and supportable forecasts, as well as qualitative adjustments.

The Company’s loans held for investment portfolio totaled $12,885,020,000 at December 31, 2024 with an ACL of $201,756,000 which consisted of 1) $186,704,000 of loss allocations on pools of loans that share similar risk characteristics and 2) $15,052,000 of loss allocations on individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans.

The Company’s measurement of expected credit losses of loans on a pool basis when the loans share similar risk characteristics is based off historical data that is adjusted, as necessary, for both internal and external qualitative factors where there are differences in the historical loss data of the Company and current or projected future conditions.

Consideration of the relevant

qualitative factors are used to bring the ACL to the level management believes is appropriate based on factors that are otherwise unaccounted for in the quantitative process.

The ACL also includes reserves for loans evaluated on an individual basis, such as certain loans graded substandard or on nonaccrual.

Management applies judgment in the determination of the qualitative factors and reserves assigned on an individual basis to estimate the ACL.

The ACL was identified by us as a critical audit matter because of the extent of auditor judgment applied and significant audit effort to evaluate the significant subjective and complex judgments made by management including the judgment required in evaluating management’s determination of the qualitative factors and the reserve assumptions for loans evaluated on an individual basis.

How We Addressed the Matter in Our Audit

The primary audit procedures we performed in response to this critical audit matter included:

Obtained an understanding of the Company’s process for establishing the ACL, including determination of the qualitative factors and reserve assumptions for loans evaluated on an individual basis, and evaluated the process utilized by management to challenge the model results and determine the best estimate of the ACL as of the balance sheet date.

Evaluated the design and tested the operating effectiveness of the controls associated with the ACL process, including controls around the reliability and accuracy of data used in the model, management’s oversight, review and approval of the selected qualitative factors, the reserve assumptions for loans evaluated on an individual basis, the governance of the credit loss methodology, and management’s review and approval of the overall ACL.

Assessed reasonableness of model methodology and key modeling assumptions, as well as the appropriateness of management’s qualitative framework, and reserve assumptions for loans evaluated on an individual basis.

Performed specific substantive tests of the model utilized, qualitative factors and the reserve assumptions for loans evaluated on an individual basis.

We evaluated if qualitative factors were applied based on a comprehensive framework and compared the adjustments utilized by management to both internal portfolio metrics and external macroeconomic data (as applicable) to support adjustments and evaluate trends in such adjustments.

Within our reserve testing for loans evaluated on an individual basis, we evaluated management’s assumptions, including collateral valuations.

In addition, we evaluated the Company’s estimate of the overall ACL giving consideration to the Company’s borrowers, loan portfolio, and macroeconomic trends, independently obtained and compared such information to comparable financial institutions and considered whether new or contrary information existed.

/s/ HORNE LLP

As described in Notes 4 and 5 to the Company's consolidated financial statements, as of December 31, 2025, the Company had a net loan portfolio of approximately $19.0 billion and related allowance for credit losses (“ACL”) of $294.0 million.

As described in Note 1 to the Company’s consolidated financial statements, the ACL represents management’s estimate of credit losses for the remaining estimated life of the loan portfolio, and uses loss experience, current and projected economic conditions, asset quality trends, and known and inherent risks in the portfolio to develop the quantitative component.

This quantitative component is then adjusted for qualitative risk factors that involve management estimates and subjective assumptions that require a high degree of management’s judgment.

We identified (i) certain assumptions in the determination of the qualitative factors and (ii) the selection of macroeconomic forecasts used for the ACL in the evaluation of loans evaluated on a collective basis as a critical audit matter.

Auditing these complex judgments and assumptions involved especially challenging auditor judgment due to the subjective nature of management’s qualitative assessment, inherent uncertainty involved in forecasting, and the nature and extent of audit effort required to address these matters, including the extent of specialized skills and knowledge needed.

The primary procedures we performed to address this critical audit matter included:

• Testing the design and operating effectiveness of controls associated with loans evaluated on a collective basis, including controls around the reliability and accuracy of relevant data used in the ACL model, and review and approval of selected qualitative factors.

• Assessing the reasonableness of management’s assumptions in the determination of the qualitative factors for loans evaluated on a collective basis by assessing consistent application, evaluation and conclusions reached, including consideration of contradictory evidence.

• Evaluating the relevance and reliability of data used in determining the qualitative factors by comparing the data to i) internally developed and third-party sources, and ii) other audit evidence gathered.

• Utilizing personnel with specialized skill and knowledge in evaluating the reasonableness of the macroeconomic forecasts used in the qualitative component of the ACL.

Fair Value of Acquired Loans

As described in Note 2 to the Company’s consolidated financial statements, the Company completed its acquisition of The First Bancshares, Inc.

on April 1, 2025, for a total purchase consideration of $1.1 billion, with total assets acquired of $7.6 billion, liabilities assumed of $6.9 billion and resulting goodwill of $418.2 million.

Determination of the acquisition date fair values of the assets acquired and liabilities assumed require the Company to make significant estimates and assumptions.

We identified certain assumptions in the purchase accounting adjustment for acquired loans used in the determination of the credit component of the adjustment for non-purchased credit deteriorated (“Non-PCD”) loans as a critical audit matter.

Auditing these significant assumptions involved especially challenging and subjective auditor judgment due to the nature and extent of audit effort required to address these matters, including evaluating the appropriateness of the market data selected.

The primary procedures we performed to address this critical audit matter included:

• Testing the design and operating effectiveness of the controls associated with evaluating the credit component of the adjustment to Non-PCD loans.

• Testing the completeness and accuracy of the loan level data utilized in the valuation of the acquisition date fair value of acquired Non-PCD loans by confirming on a sample basis, loan level data with borrowers and agreeing loan level data to management’s documentation.

• Evaluating the appropriateness of the valuation model used to develop the credit component of the adjustment to Non-PCD loans, by comparing the credit characteristics of the acquired loan portfolio to the Company’s legacy loans evaluated on a collective basis and identifying potential sources of disconfirming information.

/s/ BDO USA, P.C.

(formerly HORNE LLP)

We have served as the Company’s auditor since 2005.

Memphis, Tennessee

February 26, 2025

March 2, 2026

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of Renasant Corporation:

Opinion on the Internal Control Over Financial Reporting

We have audited Renasant Corporation’s (the “Company”) internal control over financial reporting as of December 31, 2024, based on criteria established in the Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024, based on criteria established in the Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the “PCAOB”), the consolidated financial statements of the Company as of December 31, 2024 and our report dated February 26, 2025 expressed an unqualified opinion.

Shareholders and Board of Directors

Renasant Corporation

Tupelo, Mississippi

Opinion on Internal Control Over Financial Reporting

We have audited Renasant Corporation’s (the “Company”) internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (the “COSO criteria”).

In our opinion, the Company did not maintain, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on the COSO criteria.

We do not express an opinion or any other form of assurance on management’s statements referring to any corrective actions taken by the Company after the date of management’s assessment.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the accompanying consolidated balance sheets of the Company as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity, and cash flows, for each of the three years in the period ended December 31, 2025, and the related notes and our report dated March 2, 2026 expressed an unqualified opinion.

Basis for Opinion

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting in the accompanying Report on Management’s Assessment of Internal Control Over Financial Reporting.

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Report on Management's Assessment of Internal Control over Financial Reporting.

Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit.

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federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB.

We conducted our audit of internal control over financial reporting in accordance with the standards of the PCAOB.

Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.

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We believe that our audit provides a reasonable basis for our opinion.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.

A material weakness regarding management’s failure to implement appropriate segregation of duties over a certain subset of manual journal entries has been identified and described in management’s assessment.

This material weakness was considered in determining the nature, timing, and extent of audit tests applied in our audit of the 2025 consolidated financial statements, and this report does not affect our report dated March 2, 2026, on those consolidated financial statements.

Definition and Limitations of Internal Control Over Financial Reporting

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A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company;

and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

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Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ HORNE LLP

/s/ BDO USA, P.C.

Memphis, Tennessee

February 26, 2025

March 2, 2026

Renasant Corporation and Subsidiaries

6 unchanged sentences

1,030,073 1,126,112

Securities available for sale, at fair value 831,013 923,279

Securities available for sale, at fair value (amortized cost of $ 2,635,495 and $ 968,927 , respectively)

2,560,818 831,013

Loans held for sale, at fair value 265,959 246,171

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Bank-owned life insurance 492,541 391,810

Mortgage servicing rights 72,991 91,688

Mortgage servicing rights, net 65,271 72,991

Other assets 480,178 300,003

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no shares issued and outstanding

Common stock, $ 5.00 par value – 150,000,000 shares authorized;

66,484,225 shares issued;

Common stock, $ 5.00 par value – 250,000,000 and 150,000,000 shares authorized, respectively;

97,722,397 and 66,484,225.00 shares issued, respectively;

94,636,207 and 63,565,690 shares outstanding, respectively

25 unchanged sentences

Provision for credit losses on loans 92,573 11,248 18,793

(Recovery of) provision for credit losses on unfunded commitments ( 1,975 ) ( 3,200 ) 83

Provision for (reversal of) credit losses on unfunded commitments 14,884 ( 1,975 ) ( 3,200 )

Provision for credit losses 107,457 9,273 15,593

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Merger and conversion related expenses 49,331 13,349 —

Restructuring charges — — 732

Other 73,768 59,955 53,906

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Diluted earnings per share $ 2.07 $ 3.27 $ 2.56

Cash dividends per common share $ 0.88 $ 0.88 $ 0.88

See Notes to Consolidated Financial Statements.

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Securities available for sale:

Unrealized holding gains (losses) on securities 1,074 15,128 ( 214,351 )

Unrealized holding gains on securities 47,347 1,074 15,128

Reclassification adjustment for losses realized in net income — — 31,063

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Derivative instruments:

Unrealized holding gains (losses) on derivative instruments 378 ( 1,905 ) 14,993

Unrealized holding losses on derivative instruments ( 6,960 ) ( 1,961 ) ( 4,524 )

Amounts reclassified into earnings 3,129 2,339 2,619

Total derivative instruments ( 3,831 ) 378 ( 1,905 )

Defined benefit pension and post-retirement benefit plans:

Net gain (loss) arising during the period 405 60 ( 3,062 )

Net gain arising during the period 454 405 60

Amortization of net actuarial loss recognized in net periodic pension cost 296 315 344

Total defined benefit pension and post-retirement benefit plans 750 720 404

Other comprehensive income (loss), net of tax 11,648 54,781 ( 198,594 )

Comprehensive income (loss) $ 207,105 $ 199,459 $ ( 32,526 )

Other comprehensive income, net of tax 52,876 11,648 54,781

Comprehensive income $ 234,148 $ 207,105 $ 199,459

See Notes to Consolidated Financial Statements.

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Net income — — — — 144,678 — 144,678

Other comprehensive loss — — — — — ( 198,594 ) ( 198,594 )

Comprehensive loss ( 32,526 )

Other comprehensive income — — — — — 54,781 54,781

Comprehensive income 199,459

Cash dividends ($ 0.88 per share)

8 unchanged sentences

— — — — ( 53,727 ) — ( 53,727 )

Common stock issued in public offering 7,187,500 35,938 — 181,062 — — 217,000

Issuance of common stock for stock-based compensation awards 235,983 — 8,053 ( 11,379 ) — — ( 3,326 )

4 unchanged sentences

Comprehensive income 234,148

Repurchase of shares in connection with stock repurchase program ( 388,940 ) — ( 13,336 ) — — — ( 13,336 )

Cash dividends ($ 0.89 per share)

— — — — ( 78,604 ) — ( 78,604 )

Common stock issued in public offering

7,187,500 35,938 — 181,062 — — 217,000

Common stock issued in connection with an acquisition 31,238,172 156,191 — 894,630 — — 1,050,821

Issuance of common stock for stock-based compensation awards 221,285 — 7,038 ( 11,203 ) — — ( 4,165 )

4 unchanged sentences

Consolidated Statements of Cash Flows

(In Thousands, Except Share Data)

(In Thousands)

Year Ended December 31,

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Depreciation, amortization and accretion 16,212 32,284 35,231

Deferred income tax expense (benefit) 4,649 ( 5,005 ) 2,280

Deferred income tax (benefit) 1,687 4,649 ( 5,005 )

Impairment losses on securities — — 19,352

Proceeds from sale of mortgage servicing rights 23,011 — 18,525

Gain on sale of mortgage servicing rights ( 1,467 ) ( 3,472 ) ( 547 )

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Gain on debt extinguishment — ( 56 ) ( 620 )

Losses (gains) on sales of premises and equipment 33 ( 173 ) ( 239 )

(Gains) losses on sales of premises and equipment ( 2,498 ) 33 ( 173 )

Stock-based compensation 17,723 13,883 13,716

Increase in other assets ( 15,014 ) ( 51,986 ) ( 29,671 )

(Decrease) increase in other liabilities ( 7,854 ) 23,998 ( 6,279 )

Income from bank-owned life insurance ( 14,244 ) ( 11,567 ) ( 10,463 )

Net change in operating leases 9,816 6,337 9,554

Net increase in other assets ( 27,061 ) ( 9,784 ) ( 51,077 )

Net (decrease) increase in other liabilities ( 824 ) ( 7,854 ) 23,998

Net cash provided by operating activities 271,471 106,415 148,553

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Proceeds from call/maturities of securities available for sale 311,310 88,830 149,025

Purchases of securities held to maturity — — ( 91,803 )

Proceeds from call/maturities of securities held to maturity 102,009 102,178 109,953

Proceeds from sale of mortgage servicing rights 9,353 23,011 —

Net increase in loans ( 957,067 ) ( 543,495 ) ( 791,803 )

2 unchanged sentences

Net cash received from sale of insurance agency 6,412 55,333 —

Purchase of bank-owned life insurance — — ( 80,000 )

Net change in FHLB stock 4,795 16,076 ( 27,807 )

Purchases of FHLB stock ( 26,426 ) ( 3,149 ) ( 28,236 )

Proceeds from redemption of FHLB stock 19,781 7,944 44,312

Proceeds from sales of other assets 18,660 3,350 3,115

Net cash paid in acquisitions — — ( 120,888 )

Proceeds from surrender of bank-owned life insurance 56,255 — —

Net cash received in acquisition of businesses 261,483 — —

Other, net 3,859 1,313 1,844

1 unchanged sentence

Financing activities

Net decrease in noninterest-bearing deposits ( 179,694 ) ( 975,081 ) ( 159,368 )

Net increase (decrease) in interest-bearing deposits 675,521 1,564,900 ( 259,390 )

Net (decrease) increase in short-term borrowings ( 199,559 ) ( 404,655 ) 668,805

Net increase in deposits 443,674 495,827 589,819

Net increase (decrease) in short-term borrowings 149,506 ( 199,559 ) ( 404,655 )

Repayment of long-term debt ( 60,000 ) ( 245 ) ( 2,680 )

Cash paid for dividends ( 78,604 ) ( 53,727 ) ( 50,279 )

Repurchase of shares in connection with stock repurchase program ( 13,336 ) — —

Proceeds from equity offering — 217,000 —

Net cash provided by financing activities 441,240 459,296 132,205

Net increase (decrease) in cash and cash equivalents 290,681 225,359 ( 1,301,973 )

Net (decrease) increase in cash and cash equivalents ( 21,314 ) 290,681 225,359

Cash and cash equivalents at beginning of year 1,092,032 801,351 575,992

Cash and cash equivalents at end of year $ 1,070,718 $ 1,092,032 $ 801,351

See Notes to Consolidated Financial Statements.

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2025 2024 2023

Cash and cash equivalents at beginning of year 801,351 575,992 1,877,965

Cash and cash equivalents at end of year $ 1,092,032 $ 801,351 $ 575,992

Supplemental disclosures

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Transfers of loans to other real estate $ 14,737 $ 5,037 $ 10,738

Recognition of operating right-of-use assets $ 4,630 $ 3,126 $ 3,475

Recognition of operating lease liabilities $ 4,630 $ 3,126 $ 3,475

Available for sale securities transferred to held to maturity securities $ — $ — $ 882,927

Common stock issued in acquisition of businesses $ 1,050,821 $ — $ —

Recognition of operating right-of-use assets and liabilities $ 7,312 $ 4,630 $ 3,126

See Notes to Consolidated Financial Statements.

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Nature of Operations :

Renasant Corporation (referred to herein as the “Company”) owns and operates Renasant Bank (“Renasant Bank” or the “Bank”), Renasant Insurance, Inc., 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 Renasant Insurance, Inc., which thereafter discontinued its insurance agency operations.

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 as well as offers factoring and asset-based lending on a nationwide basis.

Renasant Corporation (referred to herein as the “Company”) owns and operates Renasant Bank (“Renasant Bank” or the “Bank”), Renasant Insurance, Inc., Park Place Capital Corporation, Continental Republic Capital, LLC (doing business as “Republic Business Credit”) and Southwest Georgia Insurance Services, Inc.

On July 1, 2024, the Bank sold substantially all of the assets of Renasant Insurance, Inc., and on December 31, 2025, the Bank sold substantially all of the assets of Southwest Georgia Insurance Services, Inc.

Following theses sales, the relevant entity discontinued its insurance agency operations.

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 the Company offers factoring and asset-based lending on a nationwide basis.

Use of Estimates :

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Actual results could differ from those estimates.

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.

Consolidation :

The accompanying Consolidated Financial Statements and these Notes to Consolidated Financial Statements include the accounts of the Company and its consolidated subsidiaries, all of which are wholly-owned, except for certain non-voting preferred equity issued by the Company’s real estate investment trust subsidiaries.

All intercompany balances and transactions have been eliminated.

8 unchanged sentences

Available for sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in accumulated other comprehensive income within shareholders’ equity.

The amortized cost of securities, regardless of classification, is adjusted for amortization of premiums and accretion of discounts.

The amortized cost of securities, regardless of classification, is adjusted for amortization of premiums and accretion of discounts using the effective interest method.

Such amortization and accretion is included in interest income from securities, as is dividend income.

Realized gains and losses on sales of securities and impairments are reflected under the line items “Net losses on sales of securities” and “Impairment losses on securities” on the Consolidated Statements of Income.

Realized gains and losses on sales of securities and impairments are recorded in the line items “Net losses on sales of securities” and “Impairment losses on securities”, respectively, on the Consolidated Statements of Income.

The cost of securities sold is based on the specific identification method.

The Company evaluates its allowance for credit losses on the held to maturity investment portfolio on a quarterly basis in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic (“ASC”) 326, “ Financial Instruments - Credit Losses (“ASC 326”;

ASC 326 is also referred to as “CECL”).

The Company evaluates its allowance for credit losses on the held to maturity investment portfolio on a quarterly basis.

Expected credit losses on debt securities classified as held to maturity are measured on a collective basis by major security type.

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The allowance is increased through provision for credit losses and decreased by charge-offs, net of recoveries of amounts previously charged-off.

All of the residential and commercial mortgage-backed securities recorded as held to maturity are issued by U.S.

All of the residential and commercial mortgage-backed securities recorded as held to maturity are guaranteed by U.S.

Government agencies and government-sponsored entities.

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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, if any, related to credit loss 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 discounted future cash flows and the amortized cost basis of the security.

A number of qualitative and quantitative factors, including the financial condition of the underlying issuer, current and projected deferrals or defaults and credit ratings by nationally recognized statistical rating agencies are considered by management in the estimate of the

The amount, if any, related to credit loss is recognized in earnings

Renasant Corporation and Subsidiaries

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Note 1 – Significant Accounting Policies (continued)

discounted future cash flows.

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 discounted future cash flows and the amortized cost basis of the security.

The remaining difference between the fair value and the amortized cost basis of the security is considered the amount related to other market factors and is recognized in other comprehensive income, net of applicable taxes.

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Securities Sold Under Agreements to Repurchase :

Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold.

Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold plus accrued interest.

Securities, generally U.S.

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The “Loans held for sale” line item on the Company’s Consolidated Balance Sheets consists of residential mortgage loans held for sale.

The Company has elected to carry these loans at fair value as permitted under the guidance in ASC 825, “ Financial Instruments ” (“ASC 825”).

The Company has elected to carry these loans at fair value.

Gains and losses are realized at the time consideration is received and all other criteria for sales treatment have been met.

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The Company provides short-term financing to certain clients by operating as a factor.

The Company purchases accounts receivable from its clients and then generally collects the receivables directly from the clients’ account customers.

The Company purchases accounts receivable from its client and then generally collects the receivables directly from the client’s account customers.

Cash is advanced to the Company’s client to the extent of the advance rate, less any applicable fees, set forth in the individual factoring agreement.

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Factoring fees are reported as interest income on loans while other fees generated from factoring relationships are reported as noninterest income on the Consolidated Statements of Income.

Loans and the Allowance for Credit Losse s:

Loans and the Allowance for Credit Losses :

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their amortized cost or outstanding unpaid principal balances, in either case adjusted for charge-offs, the allowance for credit losses, any deferred fees or costs on originated loans and any purchase discounts or premiums on purchased loans.

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The deferred fees and costs are then amortized over the term of the note for all loans with payment schedules.

Loans with no payment schedule are amortized using the interest method.

Loans with no payment schedule are amortized using the straight-line method.

The amortization of these deferred fees is presented as an adjustment to the yield on loans.

Interest income is accrued on the unpaid principal balance.

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, 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”).

Upon the Company’s determination that a modification has been subsequently deemed 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.

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due.

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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 regardless of whether or not such loans are considered past due.

All interest accrued for the current year, but not collected, for loans that are placed on nonaccrual or charged-off is reversed against interest income;

the amount of interest income recognized on nonaccrual loans was immaterial for the years ended December 31, 2024, 2023 and 2022.

The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual.

Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

As a result, the Company has made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses.

As of December 31, 2024 and 2023, the Company has accrued interest receivable for loans of $ 54,395 and $ 54,804 , respectively, which is recorded in the “Other assets” line item on the Consolidated Balance Sheets.

Although the Company made the election to exclude accrued interest from the measurement of the allowance for credit losses, the Company did have an allowance for credit losses on interest deferred as part of the loan deferral program implemented in response to the COVID-19 pandemic of $ 732 and $ 1,244 , respectively, as of December 31, 2024 and 2023.

Loans may be placed on

Renasant Corporation and Subsidiaries

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Note 1 – Significant Accounting Policies (continued)

The allowance for credit losses is an estimate of expected losses inherent within the Company’s loans held for investment portfolio and is maintained at a level believed adequate by management to absorb credit losses inherent in such loan portfolio in accordance with ASC 326.

nonaccrual regardless of whether or not such loans are considered past due.

All interest accrued, but not collected, for loans that are placed on nonaccrual or charged-off 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.

Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Because accrued interest receivable not expected to be collected is written off in a timely manner, the Company has made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses.

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 confirms the uncollectability of a loan balance.

Subsequent recoveries, if any, are credited to the allowance.

The allowance for credit losses on loans held for investment, as reported in the Company’s Consolidated Balance Sheets, is then adjusted by a provision for credit losses, which is recorded in earnings.

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 credit loss estimation process involves procedures to appropriately consider the unique characteristics of the Company’s loan portfolio segments.

Credit quality is assessed and monitored by evaluating various attributes, and the results of those evaluations are utilized in underwriting new loans and in the Company’s process for the estimation of expected credit losses.

Credit quality monitoring procedures and indicators can include an assessment of problem loans, the types of loans, historical loss experience, new lending products, emerging credit trends, changes in the size and character of loan categories and other factors, including the Company’s risk rating system, regulatory guidance and economic conditions, such as the unemployment rate and GDP growth in the markets in which the Company operates, as well as trends in the market values of underlying collateral securing loans, all as determined based on input from management, loan review staff and other sources.

Credit quality monitoring procedures and indicators can include an assessment of critizied loans, the types of loans, historical loss experience, new lending products, emerging credit trends, changes in the size and character of loan categories and other factors, including the Company’s risk rating system, regulatory guidance and economic conditions, such as the unemployment rate and GDP growth in the markets in which the Company operates, as well as trends in the market values of underlying collateral securing loans, all as determined based on input from management, loan review staff and other sources.

This evaluation is complex and inherently subjective, as it requires estimates by management that are inherently uncertain and therefore susceptible to significant revision as more information becomes available.

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The methodology for estimating the amount of expected credit losses reported in the allowance for credit losses has two basic components:

first, a collective (or pooled) component for estimating expected credit losses for pools of loans that share similar risk characteristics;

first, a collective (or pool) component for estimating expected credit losses for pools of loans that share similar risk characteristics;

and second, an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans.

Loans Evaluated on a Collective (Pool) Basis

The allowance for credit losses for loans that share similar risk characteristics with other loans is calculated on a collective or pool basis, where such loans are segregated into loan portfolio segments based upon similarity of credit risk.

The Company’s primary loan portfolio segments are as follows:

Commercial, Financial, and Agricultural (“Commercial”) - Commercial loans are customarily granted to established local business customers in the Company’s market area on a collateralized basis to meet their credit needs.

The Company’s loans are segregated into loan portfolio segments based upon similarity of credit risk.

The Company’s loan portfolio segments are as follows:

Commercial and Industrial (“Commercial”) - Commercial loans are customarily granted to established local business customers in the Company’s market area on a collateralized basis to meet their credit needs.

Maturities are typically short term in nature and are commensurate with the secondary source of repayment that serves as the Company’s collateral.

Although commercial loans may be collateralized by equipment or other business assets, the repayment of this type of loan depends primarily on the creditworthiness and projected cash flow of the borrower (and any guarantors).

Thus, the chief considerations when assessing the risk of a commercial loan are the local business borrower’s ability to sell its products/services, thereby generating sufficient operating revenue to repay the Company under the agreed upon terms and conditions, and the general business conditions of the local economy or other market that the business serves.

The Company’s factoring receivables are categorized as commercial loans;

for these commercial loans, the risk assessment considers the ability of the client’s account customer, rather than the client itself, to repay the Company.

Real Estate - Construction - The Company’s construction loan portfolio consists of loans for the construction of single-family residential properties, multi-family properties and commercial projects.

Maturities for construction loans generally range from six to 12 months for residential properties and from 24 to 36 months for non-residential and multi-family properties.

The source of repayment of a construction loan comes from the sale or lease of newly-constructed property, although often construction loans are repaid with the proceeds of a commercial real estate loan that the Company makes to the owner or lessor of the newly-constructed property.

Real Estate - 1-4 Family Mortgage - This segment of the Company’s loan portfolio includes loans secured by first or second liens on residential real estate in which the property is the principal residence of the borrower, as well as loans secured by residential real estate in which the property is rented to tenants or is otherwise not the principal residence of the borrower;

loans for the preparation of residential real property prior to construction are also included in this segment.

Finally, this segment

for these, the risk assessment considers the ability of the client’s account customer, rather than the client itself, to repay the Company.

The Company’s lease financing receivables, which are granted to provide capital to businesses for commercial equipment needs, are also categorized as commercial loans;

such loans are generally granted for periods ranging between two and five years at fixed rates of interest.

Loss or decline of income by the borrower due to unplanned occurrences represents the primary risk of default to the Company from lease financing.

In the event of default, a shortfall in the value of the collateral may pose a loss in this loan category.

The Company obtains a lien against the collateral securing the loan and holds title (if applicable) until the loan is repaid in full.

Transportation, manufacturing, healthcare, material handling, printing and construction are the industries that typically obtain lease financing.

Renasant Corporation and Subsidiaries

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Note 1 – Significant Accounting Policies (continued)

includes home equity loans or lines of credit and term loans secured by first and second mortgages on the residences of borrowers who elect to use the accumulated equity in their homes for purchases, refinances, home improvements, education and other personal expenditures.

Construction and Land Development (“Construction”) - The Company’s construction loan portfolio consists of loans for the construction of single-family residential properties, multi-family properties and commercial projects.

The Company also offers commercial real estate loans to developers of commercial properties for purposes of site acquisition and preparation and other development prior to actual construction (referred to as “commercial land development loans”);

loans for the preparation of residential real property prior to construction are also included in this segment (referred to as “residential land development loans”).

Maturities for construction loans generally range from six to 12 months for residential properties and from 24 to 36 months for non-residential and multi-family properties.

Land development loans are dependent on the successful completion of the project and may be affected by adverse conditions in the real estate market or the economy as a whole.

Real Estate - 1-4 Family Mortgage (“1-4 Family Mortgage”) - This segment of the Company’s loan portfolio includes loans secured by first or second liens on residential real estate in which the property is the principal residence of the borrower, as well as loans secured by residential real estate in which the property is rented to tenants or is otherwise not the principal residence of the borrower.

In addition, this segment includes home equity loans or lines of credit and term loans secured by first and second mortgages on the residences of borrowers who elect to use the accumulated equity in their homes for purchases, refinances, home improvements, education and other personal expenditures.

The Company attempts to minimize the risk associated with residential real estate loans by scrutinizing the financial condition of the borrower;

typically, the maximum loan-to-value ratio is also limited.

Real Estate - Commercial Mortgage - Included in this portfolio segment (referred to collectively as “commercial real estate loans”) are “owner-occupied” loans in which the owner develops a property with the intention of locating its business there.

Commercial Real Estate - Owner Occupied (“Owner Occupied CRE”) - Included in this portfolio segment are loans in which the owner develops a property with the intention of locating its business there.

Payments on these loans are dependent on the successful development and management of the business as well as the borrower’s ability to generate sufficient operating revenue to repay the loan.

In some instances, in addition to the mortgage on the underlying real estate of the business, commercial real estate loans are secured by other non-real estate collateral, such as equipment or other assets used in the business.

In addition to owner-occupied commercial real estate loans, the Company offers loans in which the owner develops a property where the source of repayment of the loan will come from the sale or lease of the developed property, for example, retail shopping centers, hotels and storage facilities.

These loans are referred to as “non-owner occupied” commercial real estate loans.

Non-owner occupied commercial real estate loans and commercial land development loans are dependent on the successful completion of the project and may be affected by adverse conditions in the real estate market or the economy as a whole.

Lease Financing - This segment of the Company’s loan portfolio includes loans granted to provide capital to businesses for commercial equipment needs.

These loans are generally granted for periods ranging between two and five years at fixed rates of interest.

Loss or decline of income by the borrower due to unplanned occurrences represents the primary risk of default to the Company.

In the event of default, a shortfall in the value of the collateral may pose a loss in this loan category.

The Company obtains a lien against the collateral securing the loan and holds title (if applicable) until the loan is repaid in full.

Transportation, manufacturing, healthcare, material handling, printing and construction are the industries that typically obtain lease financing.

Installment Loans to Individuals - Installment loans to individuals (or “consumer loans”) are granted to individuals for the purchase of personal goods.

In some instances, in addition to the mortgage on the underlying real estate of the business, owner-occupied commercial real estate loans are secured by other non-real estate collateral, such as equipment or other assets used in the business.

Commercial Real Estate - Non-Owner Occupied (“Non-Owner Occupied CRE”) - Included in this portfolio segment are loans in which the owner develops a property where the source of repayment of the loan will come from the sale or lease of the developed property, for example, retail shopping centers, hotels and storage facilities.

Non-owner occupied commercial real estate loans are dependent on the successful completion of the project and may be affected by adverse conditions in the real estate market or the economy as a whole.

Consumer - Consumer loans are granted to individuals for the purchase of personal goods.

Loss or decline of income by the borrower due to unplanned occurrences represents the primary risk of default to the Company.

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The Company obtains a lien against the collateral securing the loan and holds title (if applicable) until the loan is repaid in full.

Loans Evaluated on a Collective (Pool) Basis

The allowance for credit losses for loans that share similar risk characteristics with other loans is calculated on a collective or pool basis.

In determining the allowance for credit losses on loans evaluated on a collective basis, the Company categorizes loan pools based on loan type and/or risk rating.

The Company uses two CECL models:

(1) a loss rate model, based on average historical life-of-loan loss rates, which is used for the Real Estate - 1-4 Family Mortgage, Real Estate - Construction and the consumer loans portfolio segments, and (2) for the Commercial, Real Estate - Commercial Mortgage and Lease Financing portfolio segments, the Company uses a probability of default/loss given default model, which calculates an expected loss percentage for each loan pool by considering (a) the probability of default, based on the migration of loans from performing (using risk ratings) to default using life-of-loan analysis periods, and (b) the historical severity of loss, based on the aggregate net lifetime losses incurred per loan pool.

(1) a loss rate model, based on average historical life-of-loan loss rates, which is used for the Construction, 1-4 Family Mortgage and Consumer loans portfolio segments, and (2) a probability of default/loss given default model, which calculates an expected loss percentage for each loan pool by considering (a) the probability of default, based on the migration of loans from performing (using risk ratings) to default using life-of-loan analysis periods, and (b) the historical severity of loss, based on the aggregate net lifetime losses incurred per loan pool, which is used for Commercial, Non-Owner Occupied CRE and Owner Occupied CRE portfolio segments.

The historical loss rates calculated as described above are adjusted, as necessary, for both internal and external qualitative factors where there are differences in the historical loss data of the Company and current or projected future conditions.

Internal factors include loss history, changes in credit quality (including movement between risk ratings) and/or credit concentration and changes in the nature and volume of the respective loan portfolio segments.

External factors include current and reasonable and supportable forecasted economic conditions and changes in collateral values.

These factors are used to adjust the historical loss rates (as described above) to ensure that they reflect management’s expectation of future conditions based on a reasonable and supportable forecast period.

To the extent the lives of the loans in the portfolio extend beyond the period for which a reasonable and supportable forecast can be made, when necessary, the models immediately revert to the historical loss rates adjusted for qualitative factors related to current conditions.

Renasant Corporation and Subsidiaries

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Note 1 – Significant Accounting Policies (continued)

factors include loss history, changes in credit quality (including movement between risk ratings) and/or credit concentration and changes in the nature and volume of the respective loan portfolio segments.

External factors include current and reasonable and supportable forecasted economic conditions and changes in collateral values.

Loans Evaluated on an Individual Basis

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The fair value of collateral is initially based on external appraisals.

Generally, collateral values for loans for which measurement of expected losses is dependent on the fair value of such collateral are updated every twelve months, either from external third parties or in-house certified appraisers.

Third-party appraisals are obtained from a pre-approved list of independent, local appraisal firms.

The fair value of the collateral derived from external appraisal is then adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral.

Such values are updated every twelve months, either from external third parties or in-house certified appraisers.

Third-party appraisals, when utilized, are obtained from a pre-approved list of independent, local appraisal firms.

The fair value of the collateral derived from the external appraisal is then adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral.

Other acceptable methods for determining the expected credit losses for individually evaluated loans (typically used when the loan is not collateral dependent) is a discounted cash flow approach or, if applicable, an observable market price.

Once the expected credit loss amount is determined, an allowance equal to such expected credit loss is included in the allowance for credit losses.

The Company considers the loans in the Real Estate - Construction, Real Estate - 1-4 Family Mortgage and Real Estate - Commercial Mortgage loan segments disclosed as individually evaluated in Note 4, “Allowance for Credit Losses” as collateral dependent with the type of collateral being real estate.

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.

Changes in such allowance are recorded in the “(Recovery of) provision for credit losses on unfunded commitments” line item on the Consolidated Statements of Income.

Changes in such allowance are recorded in the “Provision for (reversal of) credit losses on unfunded commitments” line item on the Consolidated Statements of Income.

Management estimates the amount of expected losses on unfunded loan commitments by calculating a likelihood of funding over the contractual period for exposures that are not unconditionally cancellable by the Company and applying the loss factors used in the allowance for credit losses on loans methodology described above to unfunded commitments for each loan type.

No credit loss estimate is reported for off-balance-sheet credit exposures that are unconditionally cancellable by the Company.

See Note 3, “Loans,” and Note 4, “Allowance for Credit Losses” for disclosures regarding the Company’s past due and nonaccrual loans, and its allowance for credit losses.

See Note 4, “Loans,” and Note 5, “Allowance for Credit Losses” for disclosures regarding the Company’s held for investment loan portfolio and the related allowance for credit losses.

Business Combinations, Accounting for Purchased Credit Deteriorated Loans and Related Assets :

Business combinations are accounted for by applying the acquisition method in accordance with ASC 805, “ Business Combinations .” Under the acquisition method, identifiable assets acquired and liabilities assumed and any non-controlling interest in the acquired company at the acquisition date are measured at their fair values as of that date and are recognized separately from goodwill.

Business combinations are accounted for by applying the acquisition method, where identifiable assets acquired and liabilities assumed and any non-controlling interest in the acquired company at the acquisition date are measured at their fair values as of that date and are recognized separately from goodwill.

Results of operations of the acquired entities are included in the Consolidated Statements of Income from the date of acquisition.

Acquisition costs incurred by the Company are expensed as incurred.

For a purchased asset that the Company has the intent of holding for investment, ASC 326 requires the Company to determine whether the asset has experienced more-than-insignificant deterioration in credit quality since origination.

For a purchased asset that the Company has the intent of holding for investment, the Company determines whether the asset has experienced more-than-insignificant deterioration in credit quality since origination.

Factors used in the determination will vary but may include delinquency history, historical accrual status, and downgrades in the risk rating by the seller, among others.

The Company’s review of an asset during its due diligence evaluation of the purchase may identify other unique attributes that would indicate more-than-insignificant deterioration has occurred such as the borrower’s financial condition, credit rating or credit score as well as the value of underlying collateral.

The Company’s review of an asset during its due diligence evaluation of the purchase may identify other unique attributes that would indicate that more-than-insignificant deterioration has occurred such as the borrower’s financial condition, credit rating or credit score as well as the value of underlying collateral.

The Company analyzes these factors collectively and may also consider market conditions or economic factors that would indicate a purchased asset has experienced more-than-insignificant deterioration in credit quality since origination.

Such assets that have experienced more-than-insignificant deterioration are referred to as purchased credit deteriorated (“PCD”) assets.

ASC 326 provides for special initial recognition of PCD assets, commonly referred to as the “gross-up” approach, where the allowance for credit losses is recognized by adding it to the fair value to arrive at the Day 1 amortized cost basis.

For PCD loans, the initial estimate of expected credit losses is recognized in the allowance for credit losses on the date of acquisition.

The initial amortized cost of PCD loans is determined by reducing the loans’ par value by the acquisition date estimate of expected credit losses with any difference between the resulting amount and the loans’ purchase price recorded as a non-credit-related discount.

After initial recognition, the accounting for PCD assets will generally follow the credit loss model that applies to that type of asset.

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Premises and equipment are stated at cost less accumulated depreciation.

Depreciation is computed primarily by use of the straight-line method for furniture, fixtures, equipment, autos and premises.

The annual provisions for depreciation have been computed primarily using estimated lives of 40 years for premises, three to seven years for furniture and equipment and three to five years for computer equipment and autos.

Leasehold improvements are expensed over the period of the leases or the estimated useful life of the improvements, whichever is shorter.

ASC 842, “ Leases ” (“ASC 842”) requires a lessee to recognize a right-of-use asset and a lease liability for all leases with a term greater than 12 months on its balance sheet regardless whether the lease is classified as financing or operating.

Depreciation is computed primarily by use of the straight-line method, with annual provisions for depreciation computed primarily using estimated lives of 40 years for premises, three to seven years for furniture and equipment and three to five years for computer equipment and transportation equipment.

Leasehold improvements are depreciated over the period of the leases or the estimated useful life of the improvements, whichever is shorter.

The Company enters into both lessor and lessee arrangements and determines if an arrangement is a lease at inception.

The Company elected the practical expedient to account for lease and non-lease components as a single lease component for all asset classes.

All of the Company’s lessee arrangements are operating leases, being real estate leases for Company facilities.

Under these arrangements, the Company records right-of-use assets and corresponding lease liabilities, each of which is based on the present value of the remaining lease payments and are discounted at the Company’s incremental borrowing rate.

Under these arrangements, the Company records a lease liability for the present value of the future lease payments under the lease terms and a right-of-use asset equal to the lease liability adjusted for items such as deferred or prepaid rent, lease incentives and any impairment of the right-of-use asset.

The discount rate used in determining the lease liability is based upon the Company’s incremental borrowing rate, which is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term in a similar environment.

The Company recognizes a right-of-use asset and a lease liability for all leases with a term greater than 12 months on its balance sheet regardless of whether the lease is classified as financing or operating.

The Company recognizes lease expense as incurred for leases with an initial term of less than 12 months.

Right-of-use assets are reported in premises and equipment on the Consolidated Balance Sheets and the related lease liabilities are reported in other liabilities .

All leases are recorded on the Consolidated Balance Sheets except for leases with an initial term less than 12 months for which the Company elected short-term lease recognition under ASC 842.

Lease terms may contain renewal and extension options and early termination features.

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The Company does not have any material sublease agreements currently in place.

The Company finances various types of equipment arrangements for customers through operating, direct financing and sales-type leases.

Lease payment terms are fixed and are typically payable in monthly installments.

The lease arrangements may contain renewal options and purchase options that allow the lessee to purchase the leased equipment at the end of the lease term.

The leases generally do not contain non-lease components.

Prior to lease inception, the Company estimates the expected residual value of the leased property at the end of the lease term by considering both internal and third-party appraisals.

In order to mitigate potential exposure to residual asset risk, the Company utilizes first amendment or terminal rental adjustment clause leases.

The net investment in these leases consists of the carrying amount of the lease receivables plus residual balances and deferred income.

The Company’s net investment is included in “Loans held for investment, net of unearned income” on the Consolidated Balance Sheets.

Lease income is included in interest income on loans on the Consolidated Statements of Income.

Other Real Estate Owned :

Other real estate owned (“OREO”) consists of properties acquired through foreclosure or acceptance of a deed in lieu of foreclosure.

These properties are initially recorded into other real estate owned at fair market value less cost to sell and are subsequently carried at the lower of cost or fair market value based on appraised value less estimated selling costs.

These properties are initially recorded into other real estate owned at fair value less cost to sell and are subsequently carried at the lower of cost or fair value based on updated appraised values less estimated selling costs.

Losses arising at the time of foreclosure of properties are charged against the allowance for credit losses.

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Changes in valuation allowances related to servicing rights are reported in the line item “Mortgage banking income” on the Consolidated Statements of Income.

The fair value of servicing rights is subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.

The fair value of servicing rights is subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

See Note 9, “Mortgage Servicing Rights,” for further details.

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Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired.

Other intangible assets represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights.

Other intangible assets, consisting of core deposit intangibles and customer relationship intangibles, represent purchased assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights.

Intangibles with finite lives are amortized over their estimated useful lives.

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In determining the fair value of the Company’s reporting units, management uses the market approach.

Other intangible assets, consisting of core deposit intangibles and customer relationship intangibles, are reviewed for events or circumstances that could impact the recoverability of the intangible asset, such as a loss of core deposits, increased competition or adverse changes in the economy.

No impairment was identified for the Company’s goodwill or its other intangible assets as a result of the testing performed during 2024, 2023 or 2022.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

Other intangible assets are reviewed for events or circumstances that could impact the recoverability of the intangible asset, such as a loss of core deposits, increased competition or adverse changes in the economy.

Bank-Owned Life Insurance :

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Revenue from Contracts with Customers :

ASC 606, “ Revenue from Contracts with Customers ” (“ASC 606”), provides guidance on revenue recognition from contracts with customers.

For revenue streams within its scope, ASC 606 requires costs that are incremental to obtaining a contract to be capitalized.

For revenue streams with customers recorded in non-interest income, costs that are incremental to obtaining a contract are capitalized.

In the case of the Company, these costs include sales commissions for insurance, wealth management fees, and revenue from certain sales of OREO.

ASC 606 has established, and the Company has utilized, a practical expedient allowing costs that, if capitalized, would have an amortization period of one year or less to instead be expensed as incurred.

Costs with an amortization period of one year or less are expensed as incurred.

Service Charges on Deposit Accounts

8 unchanged sentences

the agency bill method and the direct bill method.

Prior to the sale of the Company’s insurance agency business in July 2024, under the agency bill method, Renasant Insurance was responsible for billing the customers directly and then collecting and remitting the premiums to the insurance carriers.

Prior to the sale of the Company’s insurance agency businesses in July 2024 (as to Renasant Insurance, Inc.) and December 2025 (as to Southwest Georgia Insurance Services, Inc.) each insurance agency, under the agency bill method, was responsible for billing the customers directly and then collecting and remitting the premiums to the insurance carriers.

Agency bill revenue was recognized at the later of the invoice date or effective date of the policy.

Under the direct bill method, premium billing and collections were handled by the insurance carriers, and a commission was then paid to Renasant Insurance.

Under the direct bill method, premium billing and collections were handled by the insurance carriers, and a commission was then paid to the insurance agency.

Direct bill revenue was recognized when the commission payment was received from the insurance carriers.

2 unchanged sentences

Increases and decreases in contingency income are reflective of corresponding increases and decreases in the amount of claims paid by insurance carriers.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

Wealth Management Revenue

7 unchanged sentences

This is accomplished through the Company’s loan underwriting process.

In this process the Company considers factors such as the buyer’s initial equity in the property, the credit quality of the

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

buyer, the financing terms of the loan and the cash flow from the property, if applicable.

If it is determined that the contract criteria in ASC 606 have been met, the revenue on the sale of OREO will be recognized on the closing date of the sale when the Company has transferred title to the buyer and obtained the right to receive payment for the property.

In this process the Company considers factors such as the buyer’s initial equity in the property, the credit quality of the buyer, the financing terms of the loan and the cash flow from the property, if applicable.

The revenue on the sale of OREO will be recognized on the closing date of the sale when the Company has transferred title to the buyer and obtained the right to receive payment for the property.

In instances where sales are not seller-financed, the Company recognizes revenue on the closing date of the sale when the Company has obtained payment for the property and transferred title to the buyer.

1 unchanged sentence

Income Taxes :

Income taxes are accounted for under the liability method.

Income taxes are accounted for under the asset and liability method.

Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

5 unchanged sentences

Although realization is not assured, management believes that the Company and its subsidiaries will realize a substantial majority of the deferred tax assets.

A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized through a charge to income tax expense.

When it is more likely than not that deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense.

The Company releases income tax effects from accumulated other comprehensive income when the related pre-tax amounts are reclassified to earnings.

Fair Value Measurements :

ASC 820, “ Fair Value Measurements and Disclosures ,” provides guidance for using fair value to measure assets and liabilities and also 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), moderate 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).

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.

The accounting guidance for fair value measurement establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels, including:

Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date.

Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities;

quoted prices in markets that are not active;

or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability.

Level 3 assets and liabilities include financial instruments whose value is determined using pricing models such as discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

Classification in the hierarchy is based upon the lowest level of input that is significant to the fair value measurement of the asset or liability.

See Note 16, “Fair Value Measurements,” for further details regarding the Company’s methods and assumptions used to estimate the fair values of the Company’s financial assets and liabilities.

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The Company utilizes derivative financial instruments as part of its ongoing efforts to manage its interest rate risk exposure as well as to meet the needs of its customers.

Derivative financial instruments are included in the Consolidated Balance Sheets line item “Other assets” or “Other liabilities” at fair value in accordance with ASC 815, “ Derivatives and Hedging .”

Derivative financial instruments are included in the Consolidated Balance Sheets line item “Other assets” or “Other liabilities” at fair value.

Cash flows related to derivative assets and liabilities are reported in the net change in other assets or liabilities as operating activities in the Consolidated Statements of Cash Flows.

Cash flow hedges are utilized to mitigate the exposure to variability in expected future cash flows or other types of forecasted transactions.

For the Company’s derivatives designated as cash flow hedges, changes in the 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 earnings.

The ineffective portions of the changes in fair value of the hedging instruments are immediately recognized in earnings.

There were no ineffective portions for 2024 and 2023.

The assessment of the effectiveness of a hedging relationship is evaluated under the hypothetical derivative method.

Fair value hedges are utilized to mitigate the exposure to future interest rate risk.

3 unchanged sentences

The Company enters into interest rate cap and/or floor agreements with its customers and then enters into an offsetting derivative contract position with other financial institutions to mitigate the interest rate risk associated with these customer contracts.

Because these derivative instruments are not designated as hedging instruments, changes in the fair value of the derivative instruments are recognized currently in earnings.

Because these derivative instruments are not designated as hedging instruments, changes in the fair value of the derivative instruments are recognized currently in earnings and are reflected under the line item “Interest income on loans” on the Consolidated Statements of Income.

The Company enters into interest rate lock commitments on certain residential mortgage loans with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate mortgage loans.

Under such commitments, interest rates for a mortgage loan are typically locked in for up to 45 days with the customer.

These interest rate lock commitments are

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

recorded at fair value in the Company’s Consolidated Balance Sheets.

These interest rate lock commitments are recorded at fair value in the Company’s Consolidated Balance Sheets.

Gains and losses arising from changes in the valuation of the commitments are recognized currently in earnings and are reflected under the line item “Mortgage banking income” on the Consolidated Statements of Income.

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The Company sponsors a noncontributory pension plan and provides retiree medical benefits for certain employees.

The Company’s independent actuary firm prepares actuarial valuations of pension cost and obligation under ASC 715, “ Compensation – Retirement Benefits ” (“ASC 715”), using assumptions and estimates derived in accordance with the guidance set forth in ASC 715.

The Company’s independent actuary firm prepares actuarial valuations of pension cost and obligation, using assumptions and estimates.

Expense related to the plans is included under the line item “Salaries and employee benefits” on the Consolidated Statements of Income.

2 unchanged sentences

Stock-Based Compensation :

The Company recognizes compensation expense for all share-based payments to employees in accordance with ASC 718, “ Compensation - Stock Compensation ” (“ASC 718”).

Compensation expense for option grants and restricted stock awards is determined based on the estimated fair value of the stock options and restricted stock on the applicable grant or award date and is recognized over the respective awards’ vesting period.

The Company has elected to account for forfeitures in compensation cost when they occur as permitted under the guidance in ASC 718.

The Company has elected to account for forfeitures in compensation cost when they occur.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 1 – Significant Accounting Policies (continued)

The Company utilizes the Black-Scholes model for determining fair value of stock options granted.

Expense associated with the Company’s stock-based compensation is included under the line item “Salaries and employee benefits” on the Consolidated Statements of Income.

4 unchanged sentences

See Note 18, “Net Income Per Common Share,” for the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.

Subsequent Events:

The Company has evaluated, for consideration of recognition or disclosure, subsequent events that have occurred through the date of issuance of its financial statements and determined that no significant events occurred after December 31, 2024 but prior to the issuance of these financial statements that would have a material impact on its Consolidated Financial Statements.

Impact of Recently-Issued Accounting Standards and Pronouncements :

In December 2023, FASB issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740):

Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid.

Entities are also 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 adopted on January 1, 2025 and such required disclosures have been incorporated herein on a prospective basis.

The adoption of this ASU did not have a material impact on the Company’s financial statements beyond the additional required disclosures.

In November 2024, FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires public business entities to provide additional disaggregated information about certain income statement expense captions in the notes to the financial statements.

The standard requires disclosure of specified natural expense categories, such as employee compensation, depreciation, and intangible asset amortization, within relevant expense captions, as well as qualitative descriptions of other amounts not separately disaggregated.

The guidance is intended to provide investors with more detailed information about the components of an entity’s expenses.

ASU 2024-03 will be effective January 1, 2027, and is not expected to have an impact on the Company’s consolidated financial position or results of operations but will result in expanded disclosures.

In November 2025, FASB issued ASU 2025-08, “Financial Instruments - Credit Losses (Topic 326):

Purchased Loans” (“ASU 2025-08”), which amends the guidance on accounting for purchased loans under the current expected credit losses model.

The amendments clarify and refine the measurement and recognition requirements for purchased financial assets with credit deterioration and other purchased loans, including guidance on determining the initial allowance for credit losses, the treatment of noncredit discounts and premiums, and subsequent measurement considerations.

The standard is intended to improve consistency in practice and reduce complexity in applying the CECL model to purchased loan portfolios.

ASU 2025-08 will be effective January 1, 2027, and shall be applied prospectively.

The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures, including the potential effects on the allowance for credit losses and net interest income.

The actual impact will depend on the volume and characteristics of loan portfolios purchased after the effective date.

In November 2025, FASB issued ASU 2025-09, “Derivatives and Hedging (Topic 815):

Hedge Accounting Improvements” (“ASU 2025-09”), which enables entities to apply hedge accounting to a greater number of highly effective economic hedges in the following areas:

(1) similar risk assessment for cash flow hedges, (2) hedging forecasted interest payments on choose-your-rate debt instruments, (3) cash flow hedges of nonfinancial forecasted transactions, (4) net written options as hedging instruments, and (5) foreign-currency-denominated debt instrument as hedging instrument and hedged item (dual hedge).

ASU 2025-09 will be effective January 1, 2028, and is not expected to have a material impact on the Company's consolidated financial position or results of operations, but it may affect the timing and presentation of gains and losses related to hedging activities and result in expanded disclosures.

In December 2025, FASB issued ASU 2025-10, “Interim Reporting (Topic 270):

Narrow-Scope Improvements” (“ASU 2025-10”), which clarifies current interim reporting requirements and the applicability of Topic 270 by providing a comprehensive list of interim disclosures required by GAAP.

ASU 2025-10 will be effective January 1, 2028 and is not

Renasant Corporation and Subsidiaries

1 unchanged sentence

Note 1 – Significant Accounting Policies (continued)

Impact of Recently-Issued Accounting Standards and Pronouncements :

In March 2023, FASB issued Accounting Standards Update (“ASU”) 2023-02, “Investments - Equity Method and Joint Ventures (Topic 323):

Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method” (“ASU 2023-02”) , which permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met.

ASU 2023-02 was effective on January 1, 2024.

The adoption of this accounting pronouncement did not have a significant impact on the Company’s historical financial statements but could influence the Company’s decisions with respect to investments in certain tax credits prospectively.

In October 2023, FASB issued ASU 2023-06, “Disclosure Improvements” (“ASU 2023-06”), which amends the disclosure requirements related to various subtopics in the FASB Accounting Standards Codification (the “Codification”).

ASU 2023-06 adds a number of disclosure requirements to the Codification in response to the SEC initiative to update and simplify disclosure requirements.

ASU 2023-06 is to be applied prospectively, and early adoption is prohibited.

For SEC reporting entities, the effective dates will be the respective effective dates of the SEC’s removal of the related disclosure requirements from Regulation S-X or Regulation S-K.

If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entities.

ASU 2023-06 is not expected to have a significant impact on the Company’s 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.

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 will require 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 is not expected to have a significant impact on our financial statements.

expected to have a significant impact on the Company’s consolidated financial position or results of operations, but it may result in expanded or condensed interim disclosures.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 2 – Mergers and Acquisitions

(Dollar amounts in thousands, except per 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.

426,321 shares of unvested restricted stock awards of The First were assumed and converted into restricted stock awards of Renasant, subject to the same terms and conditions.

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 merger.

Before the merger, The First operated 116 banking locations throughout Louisiana, Mississippi, Alabama, Georgia and Florida.

The Company incurred transaction costs of $ 49,331 during the year ended December 31, 2025.

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 $ 583,672 in intangible assets, which consist of goodwill of $ 418,196 , a core deposit intangible of $ 165,476 and a customer relationship intangible of $ 5,866 associated with Southwest Georgia Insurance Services, Inc.

(“SGIS”), The First’s wholly-owned insurance subsidiary.

Goodwill resulted from a combination of revenue enhancements from expansion in existing markets and efficiencies resulting from operational synergies.

As a result of various measurement period adjustments identified during the third and fourth quarters of 2025, the estimated fair value of goodwill as of the acquisition date decreased $ 12,688 from $ 430,884 to $ 418,196 .

The goodwill is not deductible for income tax purposes.

The fair value of the core deposit intangible is being amortized over the estimated useful life, currently expected to be approximately 10 years.

On December 31, 2025, substantially all of the assets and liabilities of SGIS, including the customer relationship intangible, were sold, with no gain or loss recognized on the sale.

The calculation of goodwill is subject to change as additional information, specifically regarding final valuations of a few properties included in premises and equipment, becomes available during the one-year measurement period.

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

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 2 - Mergers and Acquisitions (continued)

The following table summarizes the preliminary fair value on April 1, 2025 of assets acquired and liabilities assumed on that date in connection with the merger with The First:

Preliminary Fair Value of Net Assets Acquired at Date of Acquisition Measurement Period Adjustments Fair Value of Net Assets Acquired at Date of Acquisition

Cash and cash equivalents $ 263,352 $ — $ 263,352

Securities 1,457,203 174 1,457,377

Loans, including loans held for sale 5,174,903 ( 1,569 ) 5,173,334

Premises and equipment 173,174 8,580 181,754

Bank-owned life insurance 146,601 — 146,601

Other real estate owned 11,109 ( 77 ) 11,032

Other intangible assets 159,610 5,866 165,476

Other assets 173,359 526 173,885

Total identifiable assets $ 7,559,311 $ 13,500 $ 7,572,811

Deposits $ 6,449,393 $ — $ 6,449,393

Borrowings 419,165 — 419,165

Other liabilities 59,857 9,902 69,759

Total liabilities $ 6,928,415 $ 9,902 $ 6,938,317

Net identifiable assets acquired over liabilities assumed $ 630,896 $ 3,598 $ 634,494

430,884 ( 12,688 ) 418,196

Net assets acquired over liabilities assumed $ 1,061,780 $ ( 9,090 ) $ 1,052,690

(1) The goodwill resulting from the merger has been assigned to the Community Banks operating segment.

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 )

Fair value on the date of acquisition $ 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 (unaudited)

The following unaudited pro forma combined condensed consolidated financial information presents the results of operations for the twelve months ended December 31, 2025 and 2024 of the Company as though the merger with The First had been completed as of January 1, 2024.

The unaudited estimated 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

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 2 - Mergers and Acquisitions (continued)

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.

Net interest income - pro forma $ 853,353 $ 835,583

Noninterest income - pro forma $ 190,414 $ 245,836

Net income - pro forma $ 240,043 $ 249,555

Earnings per share - pro forma:

Basic $ 2.76 $ 2.75

Diluted $ 2.74 $ 2.73

Due to the timing of system conversion and the integration of operations into the Company’s existing operations, historical reporting for acquired operations is impracticable, and, therefore, disclosure of the amounts of revenue and expenses of the acquired institution since the acquisition date is impracticable.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Securities

4 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 185,292 81 ( 24,468 ) 160,905

Government agency collateralized mortgage obligations 475,311 75 ( 86,870 ) 388,516

Agency mortgage backed securities 793,154 5,670 ( 15,675 ) 783,149

Collateralized mortgage obligations 706,986 2,826 ( 57,908 ) 651,904

Commercial mortgage-backed securities:

Government agency mortgage-backed securities 11,373 — ( 751 ) 10,622

Government agency collateralized mortgage obligations 146,510 41 ( 21,595 ) 124,956

Agency mortgage backed securities 100,314 285 ( 762 ) 99,837

Collateralized mortgage obligations 419,356 3,552 ( 18,120 ) 404,788

Other debt securities 349,132 1,537 ( 2,314 ) 348,355

3 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 301,400 172 ( 24,968 ) 276,604

Government agency collateralized mortgage obligations 485,164 — ( 85,883 ) 399,281

Agency mortgage backed securities 185,292 81 ( 24,468 ) 160,905

Collateralized mortgage obligations 475,311 75 ( 86,870 ) 388,516

Commercial mortgage-backed securities:

Government agency mortgage-backed securities 6,029 — ( 637 ) 5,392

Government agency collateralized mortgage obligations 161,299 24 ( 21,965 ) 139,358

Agency mortgage backed securities 11,373 — ( 751 ) 10,622

Collateralized mortgage obligations 146,510 41 ( 21,595 ) 124,956

Other debt securities 130,175 440 ( 2,655 ) 127,960

7 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 372,414 — ( 25,251 ) 347,163

Government agency collateralized mortgage obligations 354,882 — ( 41,506 ) 313,376

Agency mortgage backed securities 323,993 — ( 10,030 ) 313,963

Collateralized mortgage obligations 320,258 — ( 18,600 ) 301,658

Commercial mortgage-backed securities:

Government agency mortgage-backed securities 16,961 — ( 2,958 ) 14,003

Government agency collateralized mortgage obligations 43,662 — ( 7,317 ) 36,345

Agency mortgage backed securities 16,938 — ( 2,059 ) 14,879

Collateralized mortgage obligations 42,079 — ( 5,997 ) 36,082

Other debt securities 47,413 — ( 2,062 ) 45,351

5 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 426,264 — ( 20,314 ) 405,950

Government agency collateralized mortgage obligations 387,208 — ( 31,670 ) 355,538

Agency mortgage backed securities 372,414 — ( 25,251 ) 347,163

Collateralized mortgage obligations 354,882 — ( 41,506 ) 313,376

Commercial mortgage-backed securities:

Government agency mortgage-backed securities 16,983 — ( 2,972 ) 14,011

Government agency collateralized mortgage obligations 44,514 — ( 6,977 ) 37,537

Agency mortgage backed securities 16,961 — ( 2,958 ) 14,003

Collateralized mortgage obligations 43,662 — ( 7,317 ) 36,345

Other debt securities 53,683 — ( 4,080 ) 49,603

6 unchanged sentences

Available for sale securities sold were as follows for the years ended December 31, 2025, 2024 and 2023.

There were no available for sale securities sold during the year ended December 31, 2022.

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 the 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 during 2025.

Carrying Value Net Proceeds Gain/(Loss)

Twelve months ended December 31, 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:

Agency mortgage backed securities 275,910 275,910 —

Collateralized mortgage obligations 2,437 2,437 —

Commercial mortgage-backed securities:

Agency mortgage backed securities 6,541 6,541 —

Collateralized mortgage obligations 6,480 6,480 —

Other debt securities 33,214 33,214 —

$ 686,485 $ 686,485 $ —

For the securities sold for the year ended December 31, 2024, the Company intended to sell these as of December 31, 2023, and thereafter completed the sale in January 2024.

Therefore, the Company impaired the securities identified to be sold as of December 31, 2023 and did not recognize a gain or loss during 2024.

Carrying Value Prior to Impairment Net Proceeds Impairment Recognized in December 2023

Therefore, the Company recorded impairment of $ 19,352 on the securities identified to be sold as of December 31, 2023 and did not recognize a gain or loss during 2024.

Carrying Value Net Proceeds Gain/(Loss)

Twelve months ended December 31, 2024

1 unchanged sentence

Residential mortgage-backed securities:

Government agency mortgage-backed securities 107,389 95,922 ( 11,467 )

Government agency collateralized mortgage obligations 48,300 43,990 ( 4,310 )

Agency mortgage backed securities 95,922 95,922 —

Collateralized mortgage obligations 43,990 43,990 —

Commercial mortgage-backed securities:

Government agency collateralized mortgage obligations 28,547 25,913 ( 2,634 )

Collateralized mortgage obligations 25,913 25,913 —

$ 177,185 $ 177,185 $ —

5 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage backed securities 137,196 130,602 ( 6,594 )

Government agency collateralized mortgage obligations 54,028 51,101 ( 2,927 )

Agency mortgage backed securities 137,196 130,602 ( 6,594 )

Collateralized mortgage obligations 54,028 51,101 ( 2,927 )

Commercial mortgage-backed securities:

Government agency mortgage backed securities 5,048 4,825 ( 223 )

Government agency collateralized mortgage obligations 40,197 38,099 ( 2,098 )

Agency mortgage backed securities 5,048 4,825 ( 223 )

Collateralized mortgage obligations 40,197 38,099 ( 2,098 )

$ 511,419 $ 488,981 $ ( 22,438 )

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Securities (continued)

Gross realized gains and gross realized losses on sales of securities available for sale were as follows for the periods presented:

Year Ended December 31,

2025 2024 ( 1)

Gross gains on sales of securities available for sale $ — $ — $ 126

1 unchanged sentence

Losses on sales of securities available for sale, net $ — $ — $ ( 22,438 )

(1) Impairment recognized in December 2023.

(1) Impairment of available for sale securities sold in January 2024 and recognized in December 2023 consisted of $ 5 of gross gains and $ 19,357 of gross losses.

At December 31, 2025 and 2024, securities with a carrying value of approximately $ 1,732,787 and $ 818,344 , respectively, were pledged to secure government, public, trust, and other deposits.

Securities with a carrying value of $ 25,526 and $ 14,329 were pledged as collateral for short-term borrowings and derivative instruments at December 31, 2024 and 2023, respectively.

Securities with a carrying value of $ 9,023 and $ 18,732 were pledged as collateral for short-term borrowings and derivative instruments, respectively, at December 31, 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 December 31, 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.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 2 – Securities (continued)

Held to Maturity Available for Sale

5 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 372,414 347,163 185,292 160,905

Government agency collateralized mortgage obligations 354,882 313,376 475,311 388,516

Agency mortgage backed securities 323,993 313,963 793,154 783,149

Collateralized mortgage obligations 320,258 301,658 706,986 651,904

Commercial mortgage-backed securities:

Government agency mortgage-backed securities 16,961 14,003 11,373 10,622

Government agency collateralized mortgage obligations 43,662 36,345 146,510 124,956

Agency mortgage backed securities 16,938 14,879 100,314 99,837

Collateralized mortgage obligations 42,079 36,082 419,356 404,788

Other debt securities 47,413 45,351 299,338 298,544

14 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 7 11,051 ( 259 ) 34 141,321 ( 24,208 ) 41 152,372 ( 24,467 )

Government agency collateralized mortgage obligations 3 48,879 ( 482 ) 37 311,964 ( 86,389 ) 40 360,843 ( 86,871 )

Agency mortgage backed securities 8 135,320 ( 903 ) 36 132,975 ( 14,772 ) 44 268,295 ( 15,675 )

Collateralized mortgage obligations 2 24,816 ( 58 ) 37 299,606 ( 57,850 ) 39 324,422 ( 57,908 )

Commercial mortgage-backed securities:

Government agency mortgage-backed securities 2 5,248 ( 122 ) 2 5,375 ( 629 ) 4 10,623 ( 751 )

Government agency collateralized mortgage obligations 2 7,681 ( 39 ) 25 104,326 ( 21,556 ) 27 112,007 ( 21,595 )

Agency mortgage backed securities 9 71,188 ( 395 ) 2 5,595 ( 367 ) 11 76,783 ( 762 )

Collateralized mortgage obligations 12 40,387 ( 56 ) 25 102,206 ( 18,064 ) 37 142,593 ( 18,120 )

Other debt securities 10 191,504 ( 1,347 ) 8 14,571 ( 967 ) 18 206,075 ( 2,314 )

3 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities 1 806 ( 25 ) 35 166,963 ( 24,943 ) 36 167,769 ( 24,968 )

Government agency collateralized mortgage obligations — — — 37 354,574 ( 85,883 ) 37 354,574 ( 85,883 )

Agency mortgage backed securities 7 11,051 ( 259 ) 34 141,321 ( 24,209 ) 41 152,372 ( 24,468 )

Collateralized mortgage obligations 3 48,879 ( 482 ) 37 311,964 ( 86,388 ) 40 360,843 ( 86,870 )

Commercial mortgage-backed securities:

Government agency mortgage-backed securities — — — 2 5,392 ( 637 ) 2 5,392 ( 637 )

Government agency collateralized mortgage obligations — — — 25 108,575 ( 21,965 ) 25 108,575 ( 21,965 )

Agency mortgage backed securities 2 5,248 ( 122 ) 2 5,375 ( 629 ) 4 10,623 ( 751 )

Collateralized mortgage obligations 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 )

9 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities — — — 69 347,154 ( 25,251 ) 69 347,154 ( 25,251 )

Government agency collateralized mortgage obligations — — — 18 313,376 ( 41,506 ) 18 313,376 ( 41,506 )

Agency mortgage backed securities — — — 66 313,963 ( 10,030 ) 66 313,963 ( 10,030 )

Collateralized mortgage obligations — — — 18 301,657 ( 18,600 ) 18 301,657 ( 18,600 )

Commercial mortgage-backed securities:

Government agency mortgage-backed securities — — — 1 14,002 ( 2,958 ) 1 14,002 ( 2,958 )

Government agency collateralized mortgage obligations — — — 9 36,345 ( 7,317 ) 9 36,345 ( 7,317 )

Agency mortgage backed securities — — — 1 14,879 ( 2,059 ) 1 14,879 ( 2,059 )

Collateralized mortgage obligations — — — 9 36,083 ( 5,997 ) 9 36,083 ( 5,997 )

Other debt securities — — — 10 45,351 ( 2,062 ) 10 45,351 ( 2,062 )

3 unchanged sentences

Residential mortgage-backed securities:

Government agency mortgage-backed securities — — — 70 405,950 ( 20,314 ) 70 405,950 ( 20,314 )

Government agency collateralized mortgage obligations — — — 18 355,538 ( 31,670 ) 18 355,538 ( 31,670 )

Agency mortgage backed securities — — — 69 347,154 ( 25,251 ) 69 347,154 ( 25,251 )

Collateralized mortgage obligations — — — 18 313,376 ( 41,506 ) 18 313,376 ( 41,506 )

Commercial mortgage-backed securities:

Government agency mortgage-backed securities — — — 1 14,011 ( 2,972 ) 1 14,011 ( 2,972 )

Government agency collateralized mortgage obligations — — — 9 37,537 ( 6,977 ) 9 37,537 ( 6,977 )

Agency mortgage backed securities — — — 1 14,002 ( 2,958 ) 1 14,002 ( 2,958 )

Collateralized mortgage obligations — — — 9 36,345 ( 7,317 ) 9 36,345 ( 7,317 )

Other debt securities — — — 10 49,603 ( 4,080 ) 10 49,603 ( 4,080 )

1 unchanged sentence

The Company does 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 or implicit backing of the United States government.

Furthermore, more than 90 % of available for sale securities have the explicit backing of the United States government or a guarantee from a government sponsored enterprise that has perceived credit risk the same as the U.S.

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.

For municipal and corporate securities, the Company considers historical experience with credit sensitive securities, current market conditions, the financial health of the issuer, current credit ratings, ratings changes and outlook, explicit and implicit guarantees, or insurance programs when determining the fair value of the contractual cash flows.

Based on its review of these factors as of December 31, 2024, the Company determined that all such losses resulted from factors not deemed credit related.

Based on its review of these factors as of December 31, 2025 and 2024, 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 Accumulated Other Comprehensive Income.

3 unchanged sentences

On December 31, 2025, all debt securities held to maturity were rated A or higher by the ratings agencies.

As such, no additional credit loss was recorded for held to maturity securities.

Accordingly, no additional credit loss was recorded for held to maturity securities.

Renasant Corporation and Subsidiaries

3 unchanged sentences

The following is a summary of loans and leases, excluding loans held for sale, at December 31:

Commercial, financial, agricultural $ 1,885,817 $ 1,871,821

Lease financing 95,071 122,807

Real estate – construction:

Commercial and industrial $ 2,818,326 $ 1,976,286

Construction and land development

Residential 382,773 256,661

Commercial 836,998 1,063,781

Total real estate – construction 1,093,653 1,333,397

Other 1,522,863 1,065,148

Total construction and land development 1,905,636 1,321,809

Real estate - 1-4 family mortgage

Primary 2,428,076 2,422,482

First lien 3,844,097 2,805,693

Junior lien 52,943 25,441

Home equity 737,993 544,160

Rental/investment 402,938 373,755

Land development 113,705 120,994

Total real estate – 1-4 family mortgage 4,635,033 3,375,294

Real estate – commercial mortgage:

Owner-occupied 1,894,679 1,648,961

Non-owner occupied 4,226,937 3,733,174

Land development 114,452 104,415

Total real estate – commercial mortgage 6,236,068 5,486,550

Installment loans to individuals 90,014 103,523

Gross loans 12,889,500 12,358,017

Unearned income ( 4,480 ) ( 6,787 )

Commercial real estate - owner occupied 3,334,664 1,894,679

Commercial real estate - non-owner occupied

Multi family 1,392,779 985,037

Other 4,852,701 3,241,901

Total commercial real estate - non-owner occupied 6,245,480 4,226,938

Consumer 107,900 90,014

Loans, net of unearned income 19,047,039 12,885,020

The Company had unearned income of $ 5,152 and $ 4,480 , unamortized net deferred (fees) costs of $( 1,900 ) and $ 8,484 , and unamortized purchase accounting discounts, net of premiums, of $ 161,591 and $ 4,804 , at December 31, 2025 and 2024, respectively.

As of December 31, 2025 and 2024, the Company has accrued interest receivable for loans of $ 54,395 and $ 54,804 , respectively, which is recorded in the “Other assets” line item on the Consolidated Balance Sheets.

Interest on nonaccrual loans for the years ended December 31, 2025 and 2024 was immaterial.

Renasant Corporation and Subsidiaries

2 unchanged sentences

Past Due and Nonaccrual Loans

The following table provides an aging of past due and nonaccrual loans, segregated by class, as of the dates presented:

Accruing Loans Nonaccruing Loans

Past Due 90 Days

Past Due Current

Loans 30-89 Days

The following table provides nonaccrual loans and an aging of accruing past due loans, segregated by class, as of the dates presented:

Accruing Loans

Past Due 90 Days

Past Due Current

Loans Total Accruing

Loans Nonaccruing

December 31, 2025

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:

Commercial and industrial $ 6,580 $ 109 $ 2,783,744 $ 2,790,433 $ 27,893 $ 2,818,326

Construction and land development

Residential 59 — 380,681 380,740 2,033 382,773

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

Other 676 158 1,516,490 1,517,324 5,539 1,522,863

Total construction and land development 735 158 1,897,171 1,898,064 7,572 1,905,636

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

First lien 55,636 — 3,727,587 3,783,223 60,874 3,844,097

Junior lien 743 7 50,717 51,467 1,476 52,943

Home equity 3,885 — 731,034 734,919 3,074 737,993

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 60,264 7 4,509,338 4,569,609 65,424 4,635,033

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 )

Commercial real estate - owner occupied 9,109 — 3,294,252 3,303,361 31,303 3,334,664

Commercial real estate - non-owner occupied

Multi family — — 1,391,994 1,391,994 785 1,392,779

Other 11,595 — 4,798,496 4,810,091 42,610 4,852,701

Total commercial real estate - non-owner occupied 11,595 — 6,190,490 6,202,085 43,395 6,245,480

Consumer 879 14 106,864 107,757 143 107,900

Loans, net of unearned income $ 89,162 $ 288 $ 18,781,859 $ 18,871,309 $ 175,730 $ 19,047,039

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Loans (continued)

Accruing Loans Nonaccruing Loans

Past Due 90 Days

Past Due Current

Loans 30-89 Days

Accruing Loans

Past Due 90 Days

Past Due Current

Loans Total Accruing

Loans Nonaccruing

December 31, 2024

Commercial, financial, agricultural $ 1,098 $ 483 $ 1,864,441 $ 1,866,022 $ 1,310 $ 1,296 $ 3,193 $ 5,799 $ 1,871,821

Lease financing 687 — 122,120 122,807 — — — — 122,807

Real estate – construction:

Commercial and industrial $ 836 $ 125 $ 1,969,367 $ 1,970,328 $ 5,958 $ 1,976,286

Construction and land development

Residential 2,194 — 253,244 255,438 1,223 256,661

Commercial — — 1,063,781 1,063,781 — — — — 1,063,781

Total real estate – construction — — 1,333,397 1,333,397 — — — — 1,333,397

Other 167 1,913 1,059,917 1,061,997 3,151 1,065,148

Total construction and land development 2,361 1,913 1,313,161 1,317,435 4,374 1,321,809

Real estate - 1-4 family mortgage

Primary 33,679 — 2,344,629 2,378,308 9,454 19,394 15,326 44,174 2,422,482

First lien 29,755 12 2,721,625 2,751,392 54,301 2,805,693

Junior lien 46 — 24,283 24,329 1,112 25,441

Home equity 3,186 35 537,570 540,791 3,369 544,160

Rental/investment 9 58 371,508 371,575 43 1,786 351 2,180 373,755

Land development 206 — 120,769 120,975 — 19 — 19 120,994

Total real estate – 1-4 family mortgage 32,987 47 3,283,478 3,316,512 58,782 3,375,294

Real estate – commercial mortgage:

Owner-occupied 4,867 — 1,640,721 1,645,588 131 1,904 1,338 3,373 1,648,961

Non-owner occupied 9,161 — 3,714,239 3,723,400 6,740 — 3,034 9,774 3,733,174

Land development 90 — 104,025 104,115 — 259 41 300 104,415

Total real estate – commercial mortgage 14,118 — 5,458,985 5,473,103 6,871 2,163 4,413 13,447 5,486,550

Installment loans to individuals 1,230 13 101,932 103,175 13 4 331 348 103,523

Unearned income — — ( 6,787 ) ( 6,787 ) — — — — ( 6,787 )

Commercial real estate - owner occupied 2,650 365 1,879,350 1,882,365 12,314 1,894,679

Commercial real estate - non-owner occupied

Multi family — — 985,037 985,037 — 985,037

Other 326 — 3,212,295 3,212,621 29,280 3,241,901

Total commercial real estate - non-owner occupied 326 — 4,197,332 4,197,658 29,280 4,226,938

Consumer 682 14 89,215 89,911 103 90,014

Loans, net of unearned income $ 39,842 $ 2,464 $ 12,731,903 $ 12,774,209 $ 110,811 $ 12,885,020

Certain Modifications to Borrowers Experiencing Financial Difficulty

Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”).

Unused commitments relating to such modified loans totaled $ 1,135 and $ 3,115 at December 31, 2024 and 2023, respectively.

The following tables present the amortized cost basis of loans that were experiencing financial difficulty, modified during the years ended December 31, 2024 and 2023, and required to be disclosed under ASU 2022-02, 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.

Renasant Corporation and Subsidiaries

1 unchanged sentence

Note 4 – Loans (continued)

Year Ended December 31, 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 $ 3,215 $ 67 $ 47 $ — $ — $ 113 $ — $ 3,442 0.18 %

Certain Modifications to Borrowers Experiencing Financial Difficulty

The following tables present the amortized cost basis of loans that were experiencing financial difficulty and modified during the years ended December 31, 2025 and 2024, respectively, by class of financing receivable and by type of modification.

Twelve months ended December 31, 2025

Interest Rate Reduction Term Extension Payment Delay Term Extension and Payment Delay Interest Rate Reduction and Term Extension Interest Rate Reduction and Payment Delay Total % of Loans

Commercial and industrial $ — $ 27,470 $ 364 $ 165 $ — $ 457 $ 28,456 1.01 %

Construction and land development

Residential — — — — — — — —

Other — 31 — — — — 31 —

Total construction and land development — 31 — — — — 31 —

Real estate - 1-4 family mortgage

Primary — 55 2,046 405 — — 204 2,710 0.11

First lien — 45 161 161 — — 367 0.01 %

Junior lien — — — — — — — —

Home equity — 39 152 148 — — 339 0.05

Rental/investment — 36 — — — — — 36 0.01

Total real estate – 1-4 family mortgage — 84 313 309 — — 706 0.02

Real estate – commercial mortgage:

Owner-occupied 6,948 1,249 204 232 252 — — 8,885 0.47

Non-owner occupied — 19,288 79 — — — — 19,367 0.46

Total real estate – commercial mortgage 6,948 20,537 283 232 252 — — 28,252 0.45

Installment loans to individuals — — 13 — — 3 — 16 0.02

Commercial real estate - owner occupied 997 1,665 — — 139 — 2,801 0.08

Commercial real estate - non-owner occupied

Multi family — — — — — — — —

Other — 2,037 294 481 351 — 3,163 0.07

Total commercial real estate - non-owner occupied — 2,037 294 481 351 — 3,163 0.05

Consumer — 81 7 12 — — 100 0.09

Loans, net of unearned income $ 997 $ 31,368 $ 978 $ 967 $ 490 $ 457 $ 35,257 0.19 %

Year Ended December 31, 2023

Interest Rate Reduction Term Extension Payment Delay Interest Rate Reduction and Payment Delay Term Extension and Payment Delay Interest Rate Reduction and Term Extension Total % Total Loans by Class

Commercial, financial, agricultural $ — $ 1,339 $ 220 $ — $ — $ — $ 1,559 0.08 %

Lease financing — — — — — — — —

Real estate – construction:

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Loans (continued)

Twelve months ended December 31, 2024

Commercial and industrial $ 3,215 $ 67 $ 47 $ 405 $ — $ 113 $ — $ 3,847 0.19 %

Construction and land development

Residential — — — — — — — — —

Total real estate – construction — 3,018 — — — — 3,018 0.23

Other — — — — — — — — —

Total construction and land development — — — — — — — — —

Real estate - 1-4 family mortgage

Primary 218 31 786 85 153 — 1,273 0.05

First lien — 58 2,046 — — — 204 2,308 0.08

Junior lien — 33 — — — — — 33 0.13

Home equity — 103 — — — — — 103 0.02

Rental/investment — 235 16 — — — 251 0.07

Total real estate – 1-4 family mortgage — 194 2,046 — — — 204 2,444 0.07

Real estate – commercial mortgage:

Owner-occupied 11,540 727 — — — — 12,267 0.74

Non-owner occupied 999 14,003 — — 15,323 — 30,325 0.81

Total real estate – commercial mortgage 12,539 14,730 — — 15,323 — 42,592 0.78

Installment loans to individuals — — 22 — 6 20 48 0.05

Commercial real estate - owner occupied 6,948 1,249 204 232 252 — — 8,885 0.47

Commercial real estate - non-owner occupied

Multi family — — — — — — — — —

Other — 19,288 79 — — — — 19,367 0.60

Total commercial real estate - non-owner occupied — 19,288 79 — — — — 19,367 0.46

Consumer — — 13 — — 3 — 16 0.02

Loans, net of unearned income $ 10,163 $ 20,798 $ 2,389 $ 637 $ 252 $ 116 $ 204 $ 34,559 0.27 %

2 unchanged sentences

Note 4 – Loans (continued)

The following tables present the weighted average financial effect of loan modifications requiring disclosure under ASU 2022-02 by class of financing receivable for the periods presented.

Year ended December 31, 2024

The following tables present the weighted average financial effect of loan modifications by class of financing receivable for the periods presented.

Twelve months ended December 31, 2025

Loan Type Financial Effect

Interest Rate Reduction

Commercial, financial, agricultural Reduced the interest rate 46 basis points

Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 47 basis points

Commercial real estate - owner occupied Reduced the interest rate 485 basis points

Term Extension

Commercial, financial, agricultural Extended the term 8 months

Real estate – 1-4 family mortgage - Primary Extended the term 51 months

Commercial and industrial Extended the term 12 months

Construction and land development - Other Extended the term 60 months

Real estate - 1-4 family mortgage - First lien Extended the term 12 months

Real estate - 1-4 family mortgage - Home equity Extended the term 56 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 17 months

Commercial real estate - owner occupied Extended the term 7 months

Commercial real estate - non-owner occupied - Other Extended the term 12 months

Consumer Extended the term 124 months

Payment Delay

Commercial, financial, agricultural Delayed the payment 8 months

Real estate – 1-4 family mortgage - Primary Delayed the payment 20 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

Commercial and industrial Delayed the payment 14 months

Real estate - 1-4 family mortgage - First lien Delayed the payment 16 months

Real estate - 1-4 family mortgage - Home equity Delayed the payment 52 months

Commercial real estate - non-owner occupied - Other Delayed the payment 6 months

Consumer Delayed the payment 23 months

Combination - Term Extension and Payment Delay

Commercial, financial, agricultural Extended the term and delayed the payment 42 months

Real Estate - Commercial Mortgage - Owner Occupied Extended the term and delayed the payment 9 months

Installment loans to individuals Extended the term and delayed the payment 61 months

Commercial and industrial Extended the term and delayed the payment 29 months

Real estate - 1-4 family mortgage - First lien Extended the term and delayed the payment 11 months

Real estate - 1-4 family mortgage - Home equity Extended the term and delayed the payment 69 months

Commercial real estate - non-owner occupied - Other Extended the term and delayed the payment 15 months

Consumer 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 275 basis points and extended the term 21 months

Commercial real estate - owner occupied Reduced the interest rate 45 basis points and extended the term 80 months

Commercial real estate - non-owner occupied - Other Reduced the interest rate 45 basis points and extended the term 81 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

Commercial and industrial Reduced the interest rate 150 basis points and delayed the payment 60 months

Renasant Corporation and Subsidiaries

1 unchanged sentence

Note 4 – Loans (continued)

Year ended December 31, 2023

Twelve months ended December 31, 2024

Loan Type Financial Effect

Interest Rate Reduction

Real estate – 1-4 family mortgage - Primary Reduced the interest rate 25 basis points

Real estate – 1-4 family mortgage - Home Equity Reduced the interest rate 345 basis points

Real Estate - Commercial Mortgage - Owner Occupied Reduced the interest rate 41 basis points

Real Estate - Commercial Mortgage - Non-owner Occupied Reduced the interest rate 12 basis points

Commercial and industrial Reduced the interest rate 46 basis points

Commercial real estate - owner occupied Reduced the interest rate 47 basis points

Term Extension

Commercial, financial, agricultural Extended the term 5 months

Real estate – Construction - Residential Extended the term 5 months

Real estate – 1-4 family mortgage - Primary Extended the term 7 months

Commercial and industrial Extended the term 8 months

Real estate - 1-4 family mortgage - First lien Extended the term 39 months

Real estate - 1-4 family mortgage - Junior lien Extended the term 24 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 7 months

Real Estate - Commercial Mortgage - Owner Occupied Extended the term 8 months

Real Estate - Commercial Mortgage - Non-owner Occupied Extended the term 8 months

Commercial real estate - owner occupied Extended the term 8 months

Commercial real estate - non-owner occupied - Other Extended the term 18 months

Payment Delay

Commercial, financial, agricultural Delayed the payment 31 months

Real estate – 1-4 family mortgage - Primary Delayed the payment 45 months

Real estate – 1-4 family mortgage - Rental/investment Delayed the payment 17 months

Real Estate - Commercial Mortgage - Owner Occupied Delayed the payment 3 months

Installment loans to individuals Delayed the payment 12 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 43 months

Combination - Interest Rate Reduction and Term Extension

Installment loans to individuals Reduced the interest rate 115 basis points and extended the term 12 months

Commercial and industrial Delayed the payment 8 months

Real estate - 1-4 family mortgage - First lien Delayed the payment 42 months

Commercial real estate - owner occupied Delayed the payment 40 months

Commercial real estate - non-owner occupied - Other Delayed the payment 9 months

Consumer Delayed the payment 17 months

Combination - Term Extension and Payment Delay

Real Estate - Commercial Mortgage - Non-owner Occupied Extended the term 10 months and delayed the payment 8 months

Real estate – 1-4 family mortgage - Primary Extended the term and delayed the payment 117 months

Installment loans to individuals Extended the term and delayed the payment 15 months

Loan modifications requiring disclosure under ASU 2022-02, that were modified in 2024 and for which the accrual or past due status had deteriorated since the modification totaled $ 34 at December 31, 2024.

Commercial and industrial Extended the term and delayed the payment 42 months

Commercial real estate - owner occupied Extended the term and delayed the payment 9 months

Combination - Interest Rate Reduction and Term Extension

Commercial real estate - 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 - First lien Reduced the interest rate 25 basis points and delayed the payment 51 months

Combination - Interest Rate Reduction, Term Extension and

Payment Delay

Commercial and industrial Reduced the interest rate 181 basis points and extended the term and delayed the payment 59 months

Consumer Reduced the interest rate 460 basis points and extended the term and delayed the payment 54 months

Unused commitments relating to modified loans totaled $ 578 and $ 1,135 at December 31, 2025 and 2024, respectively.

There were no loan modifications in 2025 for which the accrual or past due status deteriorated since the quarter of modification.

Loan modifications that were modified in 2024 and for which the accrual or past due status had deteriorated since the quarter of modification totaled $ 34 at December 31, 2024.

The past due status of these loans moved from current to 30 - 89 days past due.

At December 31, 2023, there were no modifications with accrual or past due status deterioration during 2023.

Credit Quality

4 unchanged sentences

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 and, left uncorrected, could result in deterioration of the credit quality of the loan.

Loans that migrate toward the “Substandard” grade (those with a risk rating between 80 and 95 ) generally have a higher risk of loss and therefore a higher risk factor applied to those related 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, left uncorrected, could result in deterioration of the credit quality of the

Renasant Corporation and Subsidiaries

1 unchanged sentence

Note 4 – Loans (continued)

The following tables present the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:

Loans that migrate into 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 or renewal and internal risk-rating grades as of the dates presented:

Term Loans Amortized Cost Basis by Origination Year

1 unchanged sentence

December 31, 2025

Commercial, Financial, Agricultural $ 292,917 $ 208,900 $ 228,690 $ 113,192 $ 66,121 $ 54,163 $ 898,772 $ 2,889 $ 1,865,644

Commercial and industrial $ 664,836 $ 267,767 $ 189,777 $ 250,976 $ 129,199 $ 102,743 $ 1,188,474 $ 24,554 $ 2,818,326

Pass 648,151 262,528 185,033 244,440 127,075 99,108 1,122,605 21,189 2,710,129

Special mention 15,095 2,348 802 608 424 1,869 28,499 — 49,645

Substandard 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

Substandard — 3,853 1,847 174 — — — — 5,874

Real Estate - Construction $ 353,568 $ 243,827 $ 382,439 $ 18,443 $ — $ 625 $ 20,096 $ — $ 1,018,998

Classified 1,590 2,891 3,942 5,928 1,700 1,766 37,370 3,365 58,552

Current period gross charge-offs 5 1,519 3,681 4,268 5,223 3,676 1,155 — 19,527

Construction and land development $ 891,047 $ 450,335 $ 235,317 $ 92,070 $ 22,381 $ 9,220 $ 61,638 $ 1,505 $ 1,763,513

Residential 235,859 34,917 — — — — 8,288 — 279,064

1 unchanged sentence

Special mention — — — — — — — — —

Substandard — 782 241 — — — — — 1,023

Commercial $ 190,602 $ 228,372 $ 380,731 $ 18,443 $ — $ — $ 18,850 $ — $ 836,998

Classified 2,033 — — — — — — — 2,033

Current period gross charge-offs — — 106 242 — — — — 348

Other $ 655,188 $ 415,418 $ 235,317 $ 92,070 $ 22,381 $ 9,220 $ 53,350 $ 1,505 $ 1,484,449

Pass 644,909 410,878 226,065 88,922 22,381 9,094 53,106 1,505 1,456,860

Special mention 457 3,948 727 — — 107 244 — 5,483

Substandard — — — — — — — — —

Classified 9,822 592 8,525 3,148 — 19 — — 22,106

Current period gross charge-offs — — — — — 26 — — 26

Real Estate - 1-4 Family Mortgage $ 269,213 $ 150,538 $ 137,194 $ 191,230 $ 116,779 $ 71,816 $ 107,516 $ 462 $ 1,044,748

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

Substandard — 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 — — — — — — — — —

Substandard — — — — — 35 — 51 86

Rental/Investment $ 96,447 $ 83,682 $ 108,436 $ 59,836 $ 31,029 $ 18,146 $ 4,745 $ 303 $ 402,624

First lien 251,292 142,403 129,819 186,606 114,068 69,209 3,230 — 896,627

Pass 249,929 139,985 128,534 183,517 112,078 66,988 3,230 — 884,261

Special mention 263 226 525 216 530 76 — — 1,836

Substandard 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

Classified 1,100 2,192 760 2,873 1,460 2,145 — — 10,530

Current period gross charge-offs — — 34 149 64 78 — — 325

Junior lien $ 15,567 $ 7,330 $ 6,502 $ 3,854 $ 1,966 $ 2,348 $ 405 $ — $ 37,972

Pass 14,819 6,978 5,915 3,734 1,909 1,740 405 — 35,500

Special mention 514 132 — — — — — — 646

Substandard — — — — — — — — —

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

Classified 234 220 587 120 57 608 — — 1,826

Current period gross charge-offs — — 11 142 — 278 — — 431

Home equity $ 2,354 $ 805 $ 873 $ 770 $ 745 $ 259 $ 103,881 $ 462 $ 110,149

Pass 2,354 805 873 267 745 259 103,497 411 109,211

Special mention — — — — — — — — —

Substandard 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

Classified — — — 503 — — 384 51 938

Current period gross charge-offs — — — — 92 93 — — 185

Renasant Corporation and Subsidiaries

3 unchanged sentences

2025 2024 2023 2022 2021 Prior Revolving Loans Revolving Loans Converted to Term Total

Commercial real estate - owner occupied $ 501,919 $ 602,513 $ 453,290 $ 541,607 $ 465,069 $ 558,280 $ 211,986 $ — $ 3,334,664

Pass 497,708 586,917 438,247 520,128 447,885 527,129 210,685 — 3,228,699

Special mention 3,807 6,263 3,993 15,360 2,971 13,295 — — 45,689

Substandard 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

Classified 404 9,333 11,050 6,119 14,213 17,856 1,301 — 60,276

Current period gross charge-offs — — 177 — — 1,339 4,201 — 5,717

Commercial real estate - non owner occupied $ 1,696,446 $ 753,232 $ 597,999 $ 1,748,638 $ 676,417 $ 657,353 $ 113,358 $ 2,037 $ 6,245,480

Multi family 394,699 71,999 123,963 548,165 135,587 115,521 2,845 — 1,392,779

Pass 360,750 69,068 123,477 548,165 135,587 114,726 2,845 — 1,354,618

Special mention 33,062 2,918 — — — — — — 35,980

Substandard — 19 3,347 173 191 36 — — 3,766

Installment loans to individuals $ 5 $ — $ — $ — $ — $ — $ — $ — $ 5

Classified 887 13 486 — — 795 — — 2,181

Current period gross charge-offs — — — — — — — — —

Other $ 1,301,747 $ 681,233 $ 474,036 $ 1,200,473 $ 540,830 $ 541,832 $ 110,513 $ 2,037 $ 4,852,701

Pass 1,286,217 657,184 470,862 1,118,903 525,177 482,460 108,900 — 4,649,703

Special mention — 4,741 2,249 37,841 9,328 7,852 138 — 62,149

Substandard — — — — — — — — —

Classified 15,530 19,308 925 43,729 6,325 51,520 1,475 2,037 140,849

Current period gross charge-offs — — — — — 160 — — 160

Consumer $ — $ — $ 2 $ — $ — $ — $ — $ — $ 2

Pass — — 2 — — — — — 2

Special mention — — — — — — — — —

Classified — — — — — — — — —

Current period gross charge-offs — — — — — — — — —

Total loans subject to risk rating $ 4,023,461 $ 2,224,385 $ 1,613,579 $ 2,824,521 $ 1,409,845 $ 1,399,412 $ 1,682,972 $ 28,558 $ 15,206,733

1 unchanged sentence

Special mention 53,198 20,576 8,296 54,025 13,253 23,199 28,881 — 201,428

Substandard 22,306 16,132 44,919 9,572 5,859 52,382 23,838 8,486 183,494

Classified 31,600 34,549 26,275 62,420 23,755 74,709 40,530 5,453 299,291

Current period gross charge-offs 5 1,519 4,009 4,801 5,379 5,650 5,356 — 26,719

Term Loans Amortized Cost Basis by Origination Year

1 unchanged sentence

December 31, 2024

Commercial, Financial, Agricultural $ 312,902 $ 289,264 $ 162,535 $ 98,894 $ 51,162 $ 38,518 $ 883,302 $ 19,440 $ 1,856,017

Commercial and industrial $ 305,032 $ 231,239 $ 268,425 $ 122,318 $ 69,846 $ 57,591 $ 898,773 $ 2,889 $ 1,956,113

Pass 299,747 223,312 247,845 121,305 67,368 56,003 874,105 2,767 1,892,452

Special mention 591 2,874 3,438 415 1,244 558 7,006 — 16,126

Substandard 697 651 623 829 226 6,058 11,596 39 20,719

Lease Financing Receivables $ 32,842 $ 49,628 $ 12,317 $ 13,553 $ 5,969 $ 1,700 $ — $ — $ 116,009

Pass 32,842 47,050 12,317 11,735 5,443 1,395 — — 110,782

Watch — 2,578 — 1,818 526 305 — — 5,227

Substandard — — — — — — — — —

Real Estate - Construction $ 320,889 $ 581,201 $ 308,442 $ 16,066 $ — $ 1,823 $ 1,225 $ — $ 1,229,646

Classified 4,694 5,053 17,142 598 1,234 1,030 17,662 122 47,535

Current period gross charge-offs — 382 459 879 4 2,974 407 — 5,105

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Loans (continued)

Term Loans Amortized Cost Basis by Origination Year

2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total

Construction and land development $ 480,017 $ 274,038 $ 406,832 $ 29,396 $ 3,341 $ 5,563 $ 29,561 $ 175 $ 1,228,923

Residential 162,972 15,455 1,708 — — 625 1,246 — 182,006

1 unchanged sentence

Special mention 2,194 — — — — — — — 2,194

Substandard 449 2,736 — — — — — — 3,185

Commercial $ 171,490 $ 568,318 $ 306,453 $ 16,066 $ — $ 1,454 $ — $ — $ 1,063,781

Classified — 782 241 — — — — — 1,023

Current period gross charge-offs — — 145 — — — — — 145

Other $ 317,045 $ 258,583 $ 405,124 $ 29,396 $ 3,341 $ 4,938 $ 28,315 $ 175 $ 1,046,917

Pass 316,880 246,219 399,895 29,192 3,091 4,902 28,315 175 1,028,669

Special mention 165 12,345 1,882 31 59 — — — 14,482

Substandard — — — — — — — — —

Classified — 19 3,347 173 191 36 — — 3,766

Current period gross charge-offs — — — — — — — — —

Real Estate - 1-4 Family Mortgage $ 108,462 $ 90,023 $ 116,310 $ 65,019 $ 33,491 $ 24,714 $ 35,425 $ 1,150 $ 474,594

Primary $ 8,512 $ 8,729 $ 6,194 $ 3,943 $ 1,792 $ 8,573 $ 3,272 $ 915 $ 41,930

Pass 8,134 8,511 5,859 3,943 1,781 8,140 3,272 915 40,555

Special Mention 183 — — — — 34 — — 217

Substandard 195 218 335 — 11 399 — — 1,158

Home Equity $ 1,107 $ 10 $ 996 $ — $ — $ 16 $ 20,628 $ 74 $ 22,831

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Loans (continued)

Term Loans Amortized Cost Basis by Origination Year

2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total

First lien 103,597 83,005 113,132 63,150 32,059 23,574 4,873 984 424,374

Pass 103,192 82,201 112,684 62,703 31,966 22,794 4,873 913 421,326

Special mention 41 564 187 52 24 — — — 868

Substandard — — — — — 15 — 74 89

Rental/Investment $ 89,760 $ 129,241 $ 75,457 $ 37,171 $ 17,817 $ 18,721 $ 4,678 $ 845 $ 373,690

Classified 364 240 261 395 69 780 — 71 2,180

Current period gross charge-offs — — — — — 66 — — 66

Junior lien $ 3,897 $ 6,013 $ 3,171 $ 932 $ 1,432 $ 1,105 $ 1,576 $ 115 $ 18,241

Pass 3,758 5,803 3,171 829 1,432 469 1,576 96 17,134

Special mention 139 — — — — — — — 139

Substandard 562 255 871 1,779 1,097 570 — 262 5,396

Land Development $ 46,189 $ 38,744 $ 18,110 $ 428 $ 144 $ 3,473 $ 2,311 $ — $ 109,399

Classified — 210 — 103 — 636 — 19 968

Current period gross charge-offs — 12 — — — — — — 12

Home equity $ 968 $ 1,005 $ 7 $ 937 $ — $ 35 $ 28,976 $ 51 $ 31,979

Pass 968 1,005 7 937 — — 28,976 — 31,893

Special mention — — — — — — — — —

Substandard 38 — — 19 — — — — 57

Real Estate - Commercial Mortgage $ 716,844 $ 1,572,099 $ 1,111,564 $ 717,571 $ 429,783 $ 723,344 $ 176,617 $ 26,252 $ 5,474,074

Owner-Occupied $ 264,589 $ 336,491 $ 321,491 $ 214,365 $ 164,931 $ 283,517 $ 60,200 $ 3,247 $ 1,648,831

Classified — — — — — 35 — 51 86

Current period gross charge-offs — — — — — 33 — — 33

Commercial real estate - 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

Substandard 3,196 9,769 2,210 1,890 1,994 5,476 3,722 270 28,527

Non-Owner Occupied $ 432,769 $ 1,195,500 $ 776,264 $ 499,290 $ 260,355 $ 434,541 $ 111,609 $ 22,821 $ 3,733,149

Classified 222 9,473 8,710 2,999 1,920 3,547 6,176 252 33,299

Current period gross charge-offs — — 37 — — — — — 37

Commercial real estate - non owner occupied $ 576,021 $ 427,715 $ 1,447,378 $ 724,161 $ 428,874 $ 484,792 $ 105,645 $ 32,331 $ 4,226,917

Multi family 66,026 37,149 413,008 316,773 118,185 28,105 4,164 1,627 985,037

Pass 65,912 37,149 387,936 316,773 118,185 28,056 4,164 1,627 959,802

Special mention — — 25,072 — — — — — 25,072

Substandard 2,690 182 366 208 23,090 23,676 — 9,047 59,259

Land Development $ 19,486 $ 40,108 $ 13,809 $ 3,916 $ 4,497 $ 5,286 $ 4,808 $ 184 $ 92,094

Classified 114 — — — — 49 — — 163

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Loans (continued)

Term Loans Amortized Cost Basis by Origination Year

2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total

Current period gross charge-offs — — — — — — — — —

Other $ 509,995 $ 390,566 $ 1,034,370 $ 407,388 $ 310,689 $ 456,687 $ 101,481 $ 30,704 $ 3,241,880

Pass 488,183 390,190 966,482 401,270 307,106 402,164 101,481 22,733 3,079,609

Special mention 4,900 21 52,670 814 1,138 8,254 — — 67,797

Substandard 58 295 206 141 18 240 32 — 990

Installment loans to individuals $ — $ — $ — $ — $ 3 $ — $ — $ — $ 3

Classified 16,912 355 15,218 5,304 2,445 46,269 — 7,971 94,474

Current period gross charge-offs — — — — — 5,693 — — 5,693

Consumer $ 5 $ — $ — $ — $ — $ — $ — $ — $ 5

Pass 5 — — — — — — — 5

Special mention — — — — — — — — —

Substandard — — — — — — — — —

Classified — — — — — — — — —

Current period gross charge-offs — — — — — — — — —

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

1 unchanged sentence

Special mention 8,978 16,152 83,637 2,162 2,596 10,350 7,006 — 130,881

Substandard 7,885 14,106 4,611 4,866 26,436 36,434 15,350 9,692 119,380

Classified 22,306 16,132 44,919 9,572 5,859 52,382 23,838 8,486 183,494

Current period gross charge-offs — 394 641 879 4 8,766 407 — 11,091

The following tables present the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:

2 unchanged sentences

December 31, 2025

Commercial, Financial, Agricultural $ — $ — $ — $ — $ — $ 20,173 $ — $ — $ 20,173

Performing Loans — — — — — 20,173 — — 20,173

Non-Performing Loans — — — — — — — — —

Lease Financing Receivables $ — $ — $ — $ — $ — $ — $ — $ — $ —

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Loans (continued)

Term Loans Amortized Cost Basis by Origination Year

2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total

Commercial and industrial $ — $ — $ — $ — $ — $ — $ — $ — $ —

Performing Loans — — — — — — — — —

Non-Performing Loans — — — — — — — — —

Real Estate - Construction $ 37,714 $ 23,301 $ 11,210 $ 2,056 $ — $ — $ 108 $ 266 $ 74,655

Current period gross charge-offs — — — — — — — — —

Construction and land development $ 66,151 $ 33,823 $ 20,283 $ 6,156 $ 10,321 $ 3,943 $ 507 $ 939 $ 142,123

Residential 54,380 30,881 13,955 1,265 1,914 — 375 939 103,709

1 unchanged sentence

Non-Performing Loans — — — — — — — — —

Commercial $ — $ — $ — $ — $ — $ — $ — $ — $ —

Current period gross charge-offs — — — — — — — — —

Other $ 11,771 $ 2,942 $ 6,328 $ 4,891 $ 8,407 $ 3,943 $ 132 $ — $ 38,414

Performing Loans 11,771 2,921 6,247 4,744 8,403 3,932 132 — 38,150

Non-Performing Loans — 21 81 147 4 11 — — 264

Current period gross charge-offs — — — — — — — — —

Real Estate - 1-4 Family Mortgage $ 333,353 $ 213,474 $ 345,975 $ 805,063 $ 534,744 $ 733,503 $ 609,124 $ 15,049 $ 3,590,285

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

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Loans (continued)

Term Loans Amortized Cost Basis by Origination Year

2025 2024 2023 2022 2021 Prior Revolving Loans Revolving Loans Converted to Term Total

First lien 331,496 209,270 343,867 801,481 533,558 727,798 — — 2,947,470

Performing Loans 329,942 207,890 335,040 783,952 528,690 705,399 — — 2,890,913

Non-Performing Loans 1,554 1,380 8,827 17,529 4,868 22,399 — — 56,557

Rental/Investment $ — $ — $ — $ 256 $ — $ 58 $ — $ — $ 314

Current period gross charge-offs — 74 28 58 — 69 — — 229

Junior lien $ 1,857 $ 4,088 $ 1,745 $ 2,868 $ 968 $ 3,445 $ — $ — $ 14,971

Performing Loans 1,857 4,081 1,689 2,868 968 3,050 — — 14,513

Non-Performing Loans — 7 56 — — 395 — — 458

Land Development $ 1,764 $ 1,930 $ 1,355 $ 1,249 $ 699 $ 87 $ — $ — $ 7,084

Current period gross charge-offs — 53 — — — 7 — — 60

Home equity $ — $ 116 $ 363 $ 714 $ 218 $ 2,260 $ 609,124 $ 15,049 $ 627,844

Performing Loans — 116 184 714 218 1,960 608,808 13,334 625,334

Non-Performing Loans — — 179 — — 300 316 1,715 2,510

Real Estate - Commercial Mortgage $ 2,614 $ 2,350 $ 1,902 $ 2,567 $ 1,460 $ 396 $ — $ — $ 11,289

Owner-Occupied $ — $ — $ — $ — $ 121 $ 1 $ — $ — $ 122

Current period gross charge-offs — — — — 148 79 — — 227

Commercial real estate - owner occupied $ — $ — $ — $ — $ — $ — $ — $ — $ —

Performing Loans — — — — — — — — —

Non-Performing Loans — — — — — — — — —

Non-Owner Occupied $ — $ — $ — $ — $ 21 $ — $ — $ — $ 21

Current period gross charge-offs — — — — — — — — —

Commercial real estate - non owner occupied $ — $ — $ — $ — $ — $ — $ — $ — $ —

Multi family — — — — — — — — —

Performing Loans — — — — — — — — —

Non-Performing Loans — — — — — — — — —

Land Development $ 2,614 $ 2,350 $ 1,902 $ 2,567 $ 1,318 $ 395 $ — $ — $ 11,146

Current period gross charge-offs — — — — — — — — —

Other $ — $ — $ — $ — $ — $ — $ — $ — $ —

Performing Loans — — — — — — — — —

Non-Performing Loans — — — — — — — — —

Installment loans to individuals $ 32,598 $ 11,488 $ 7,971 $ 3,815 $ 1,317 $ 17,261 $ 15,530 $ 29 $ 90,009

Current period gross charge-offs — — — — — — — — —

Consumer $ 40,081 $ 15,374 $ 9,009 $ 6,276 $ 3,636 $ 11,482 $ 21,877 $ 163 $ 107,898

Performing Loans 40,079 15,371 9,006 6,238 3,636 11,376 21,874 163 107,743

Non-Performing Loans 2 3 3 38 — 106 3 — 155

Current period gross charge-offs 53 214 159 74 50 955 19 — 1,524

Total loans not subject to risk rating 439,585 262,671 375,267 817,495 548,701 748,928 631,508 16,151 3,840,306

1 unchanged sentence

Non-Performing Loans 1,556 1,411 9,146 17,714 4,872 23,211 319 1,715 59,944

Current period gross charge-offs 53 341 187 132 198 1,110 19 — 2,040

Term Loans Amortized Cost Basis by Origination Year

Renasant Corporation and Subsidiaries

1 unchanged sentence

Note 4 – Loans (continued)

Term Loans Amortized Cost Basis by Origination Year

2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total

December 31, 2024

Commercial, Financial, Agricultural $ — $ — $ — $ — $ — $ 15,804 $ — $ — $ 15,804

Performing Loans — — — — — 15,804 — — 15,804

Non-Performing Loans — — — — — — — — —

Lease Financing Receivables $ — $ — $ — $ — $ — $ 11 $ — $ — $ 11

Commercial and industrial $ — $ — $ — $ — $ — $ 20,173 $ — $ — $ 20,173

Performing Loans — — — — — 20,173 — — 20,173

Non-Performing Loans — — — — — — — — —

Real Estate - Construction $ 48,003 $ 41,070 $ 14,158 $ — $ — $ — $ 490 $ 30 $ 103,751

Current period gross charge-offs — — — — — — — — —

Construction and land development $ 42,092 $ 27,581 $ 14,467 $ 5,872 $ 2,018 $ 482 $ 108 $ 266 $ 92,886

Residential 37,714 23,301 11,210 2,056 — — 108 266 74,655

1 unchanged sentence

Non-Performing Loans 200 — — — — — — — 200

Commercial $ — $ — $ — $ — $ — $ — $ — $ — $ —

Current period gross charge-offs — — — — — — — — —

Other $ 4,378 $ 4,280 $ 3,257 $ 3,816 $ 2,018 $ 482 $ — $ — $ 18,231

Performing Loans 4,378 4,269 3,144 3,807 2,017 482 — — 18,097

Non-Performing Loans — 11 113 9 1 — — — 134

Current period gross charge-offs — — — — — 7 — — 7

Real Estate - 1-4 Family Mortgage $ 152,541 $ 340,032 $ 706,868 $ 491,159 $ 279,682 $ 417,569 $ 499,157 $ 13,692 $ 2,900,700

Primary $ 334,103 $ 727,993 $ 534,667 $ 311,199 $ 133,433 $ 339,111 $ — $ 46 $ 2,380,552

Performing Loans 333,751 720,759 528,383 302,065 128,859 322,677 — 46 2,336,540

Non-Performing Loans 352 7,234 6,284 9,134 4,574 16,434 — — 44,012

Home Equity $ — $ — $ 111 $ — $ — $ 470 $ 493,515 $ 5,761 $ 499,857

First lien 151,968 339,214 705,064 490,266 278,986 414,928 — 893 2,381,319

Performing Loans 151,675 335,268 690,666 484,688 268,806 395,387 — 893 2,327,383

Non-Performing Loans 293 3,946 14,398 5,578 10,180 19,541 — — 53,936

Rental/Investment $ — $ — $ — $ — $ — $ 65 $ — $ — $ 65

Current period gross charge-offs — 17 195 35 110 81 — — 438

Junior lien $ 543 $ 818 $ 1,804 $ 893 $ 696 $ 2,446 $ — $ — $ 7,200

Performing Loans 532 751 1,804 893 696 2,065 — — 6,741

Non-Performing Loans 11 67 — — — 381 — — 459

Land Development $ 5,303 $ 3,095 $ 1,766 $ 816 $ 419 $ 196 $ — $ — $ 11,595

Current period gross charge-offs — — — — — — — — —

Home equity $ 30 $ — $ — $ — $ — $ 195 $ 499,157 $ 12,799 $ 512,181

Performing Loans 30 — — — — 177 499,052 9,553 508,812

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Loans (continued)

Non-Performing Loans — — — — — 18 105 3,246 3,369

Real Estate - Commercial Mortgage $ 3,640 $ 2,674 $ 3,054 $ 1,890 $ 902 $ 316 $ — $ — $ 12,476

Owner-Occupied $ — $ — $ — $ 126 $ — $ 4 $ — $ — $ 130

Current period gross charge-offs — — 330 — — 87 — — 417

Commercial real estate - owner occupied $ — $ — $ — $ — $ 121 $ 1 $ — $ — $ 122

Performing Loans — — — — 121 1 — — 122

Non-Performing Loans — — — — — — — — —

Non-Owner Occupied $ — $ — $ — $ 25 $ — $ — $ — $ — $ 25

Current period gross charge-offs — — — — — — — — —

Commercial real estate - non owner occupied $ — $ — $ — $ — $ 21 $ — $ — $ — $ 21

Multi family — — — — — — — — —

Performing Loans — — — — — — — — —

Non-Performing Loans — — — — — — — — —

Land Development $ 3,640 $ 2,674 $ 3,054 $ 1,739 $ 902 $ 312 $ — $ — $ 12,321

Current period gross charge-offs — — — — — — — — —

Other $ — $ — $ — $ — $ 21 $ — $ — $ — $ 21

Performing Loans — — — — 21 — — — 21

Non-Performing Loans — — — — — — — — —

Installment loans to individuals $ 35,274 $ 17,322 $ 7,121 $ 2,827 $ 9,786 $ 17,276 $ 13,769 $ 145 $ 103,520

Current period gross charge-offs — — — — — — — — —

Consumer $ 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

Current period gross charge-offs 36 110 69 15 3 1,623 — — 1,856

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

1 unchanged sentence

Non-Performing Loans 541 4,040 14,511 5,600 10,181 19,989 106 3,246 58,214

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Loans (continued)

The following table discloses gross charge-offs by year of origination for the year ended December 31, 2024:

2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term 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

Commercial — — — — — — — — —

Total real estate – construction $ — $ — $ 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

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

The following table discloses gross charge-offs by year of origination for the year ended December 31, 2023:

2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Charge-offs

Commercial, financial, agricultural $ 898 $ 1,909 $ 235 $ 131 $ 635 $ 4,165 $ 865 $ — $ 8,838

Lease financing 883 273 248 72 48 — — — 1,524

Real estate – construction:

Residential — 57 — — — — — — 57

Commercial — — — — — — — — —

Total real estate – construction $ — $ 57 $ — $ — $ — $ — $ — $ — $ 57

Real estate – 1-4 family mortgage:

Primary — 17 — — — 92 — — 109

Home equity — — — — 25 90 — — 115

Rental/investment — — 91 72 10 20 — — 193

Total real estate – 1-4 family mortgage $ — $ 17 $ 91 $ 72 $ 35 $ 202 $ — $ — $ 417

Real estate – commercial mortgage:

Owner-occupied — — — — — 582 — — 582

Non-owner occupied — — — — — 4,986 — — 4,986

Total real estate – commercial mortgage $ — $ — $ — $ — $ — $ 5,568 $ — $ — $ 5,568

Installment loans to individuals $ 29 $ 45 $ 43 $ 35 $ 7 $ 2,477 $ — $ — $ 2,636

Loans, net of unearned income $ 1,810 $ 2,301 $ 617 $ 310 $ 725 $ 12,412 $ 865 $ — $ 19,040

Current period gross charge-offs 36 127 594 50 113 1,798 — — 2,718

Loans Pledged

The Federal Home Loan Bank (“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 pledged $ 681,719 and $ 656,683 of its non-real estate loan portfolio to the Federal Reserve as collateral at the Discount Window at December 31, 2025 and 2024, respectively.

Related Party Loans

2 unchanged sentences

A summary of the changes in related party loans follows:

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 3 – Loans (continued)

Loans at December 31, 2024

New loans and advances 5,262

Loans to directors assumed in acquisition 8,362

Payments received ( 278 )

Loans at December 31, 2025

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Loans (continued)

No related party loans were classified as past due or nonaccrual at December 31, 2025 or 2024.

4 unchanged sentences

The following table provides 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 -

Mortgage Real Estate -

Mortgage Lease Financing Installment Loans to Individuals Total

Commercial and industrial Construction and land development Real Estate -

Mortgage Commercial real estate - owner occupied Commercial real estate - non-owner occupied

Consumer Total

Year Ended December 31, 2025

5 unchanged sentences

Net charge-offs ( 17,480 ) ( 364 ) ( 1,236 ) ( 5,269 ) 44 ( 1,072 ) ( 25,377 )

(Recoveries of) provision for credit losses on loans ( 2,700 ) ( 3,341 ) 1,278 16,643 1,461 ( 2,093 ) 11,248

Ending balance $ 38,527 $ 15,126 $ 47,761 $ 90,204 $ 3,368 $ 6,770 $ 201,756

Period-End Amount Allocated to:

Individually evaluated $ 3,823 $ — $ — $ 9,622 $ 1,337 $ 270 $ 15,052

Collectively evaluated 34,704 15,126 47,761 80,582 2,031 6,500 186,704

Ending balance $ 38,527 $ 15,126 $ 47,761 $ 90,204 $ 3,368 $ 6,770 $ 201,756

Individually evaluated $ 9,712 $ 241 $ 6,576 $ 45,182 $ 4,082 $ 270 $ 66,063

Collectively evaluated 1,876,105 1,093,412 3,482,301 6,190,886 86,509 89,744 12,818,957

Provision for (reversal of) credit losses on loans 24,450 10,338 16,279 22,947 19,074 ( 515 ) 92,573

Ending balance $ 57,831 $ 31,359 $ 61,249 $ 38,961 $ 99,605 $ 4,950 $ 293,955

Nonaccruing loans with no allowance for credit losses $ 22,985 $ 6,718 $ 2,386 $ 8,097 $ 10,646 $ — $ 50,832

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 4 – Allowance for Credit Losses (continued)

Commercial Real Estate -

Construction Real Estate -

Mortgage Real Estate -

Mortgage Lease Financing Installment Loans to Individuals Total

Commercial and industrial Construction and land development Real Estate -

Mortgage Commercial real estate - owner occupied Commercial real estate - non-owner occupied

Consumer Total

Year Ended December 31, 2024

5 unchanged sentences

Net charge-offs ( 3,360 ) ( 152 ) ( 801 ) 75 ( 3,527 ) ( 305 ) ( 8,070 )

Provision for (recoveries of) credit losses on loans 5,448 ( 493 ) 2,584 10,078 1,558 ( 382 ) 18,793

Ending balance $ 43,980 $ 18,612 $ 47,283 $ 77,020 $ 2,515 $ 9,168 $ 198,578

Period-End Amount Allocated to:

Individually evaluated $ 9,093 $ — $ 83 $ 1,132 $ — $ 270 $ 10,578

Collectively evaluated 34,887 18,612 47,200 75,888 2,515 8,898 188,000

Ending balance $ 43,980 $ 18,612 $ 47,283 $ 77,020 $ 2,515 $ 9,168 $ 198,578

Individually evaluated $ 18,026 $ — $ 11,600 $ 15,705 $ — $ 270 $ 45,601

Collectively evaluated 1,853,795 1,333,397 3,428,319 5,470,845 116,020 103,253 12,305,629

(Reversal of) provision for credit losses on loans ( 1,194 ) ( 3,976 ) 1,253 1,726 15,717 ( 2,278 ) 11,248

Ending balance $ 41,864 $ 19,200 $ 45,498 $ 16,993 $ 71,664 $ 6,537 $ 201,756

Nonaccruing loans with no allowance for credit losses $ 735 $ 3,257 $ 6,298 $ 3,194 $ 8,555 $ — $ 22,039

The Company’s allowance for credit loss model considers economic projections, primarily the national unemployment rate and GDP, over a reasonable and supportable period of two years .

While credit metrics remained relatively stable, loan growth caused the Company’s allowance model to indicate that the size of the allowance for credit losses was appropriate during 2024.

The increase in the allowance for credit losses was primarily driven by loan balance increase from a combination of organic loan growth and from the acquisition of The First, and changes in the macroeconomic environment and qualitative factors.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 5 – Allowance for Credit Losses (continued)

Company’s allowance for credit loss considers current conditions, economic projections, primarily the national unemployment rate and GDP over a reasonable and supportable period of two years , historical loss data, and environmental factors.

The Company’s allowance for credit loss considers current conditions, economic projections, primarily the national unemployment rate and GDP over a reasonable and supportable period of two years , historical loss data, and environmental factors.

The allowance for credit losses under CECL is calculated utilizing the probability of default ( “ PD ” )/ loss given default ( “ LGD ” ) approach for most commercial mortgage related pools, while the average historical life-of-loan loss rate cohort approach is used for the remaining pools.

Collateral Dependent Loans

The following tables present collateral dependent loans by loan portfolio segment and by type of collateral along with the related allowance for credit losses:

Collateral Type

Real Estate Other Total Allowance

December 31, 2025

Commercial and industrial $ — $ 46,860 $ 46,860 $ 4,502

Construction and land development

Residential 2,033 — 2,033 —

Other 10,575 — 10,575 1,887

Total construction and land development 12,608 — 12,608 1,887

Real estate - 1-4 family mortgage

First lien 3,263 — 3,263 116

Junior lien — — — —

Home equity 500 — 500 —

Total real estate – 1-4 family mortgage 3,763 — 3,763 116

Commercial real estate - owner occupied 21,165 — 21,165 3,661

Commercial real estate - non-owner occupied

Multi family — — — —

Other 48,049 — 48,049 10,999

Total commercial real estate - non-owner occupied 48,049 — 48,049 10,999

Consumer — 270 270 270

Loans, net of unearned income $ 85,585 $ 47,130 $ 132,715 $ 21,435

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 5 – Allowance for Credit Losses (continued)

Collateral Type

Real Estate Other Total Allowance

December 31, 2024

Commercial and industrial $ — $ 13,794 $ 13,794 $ 5,160

Construction and land development

Residential 241 — 241 —

Other 3,016 — 3,016 —

Total construction and land development 3,257 — 3,257 —

Real estate - 1-4 family mortgage

First lien 6,298 — 6,298 —

Junior lien — — — —

Home equity 278 — 278 —

Total real estate – 1-4 family mortgage 6,576 — 6,576 —

Commercial real estate - owner occupied 13,891 — 13,891 4,063

Commercial real estate - non-owner occupied

Multi family — — — —

Other 28,275 — 28,275 5,559

Total commercial real estate - non-owner occupied 28,275 — 28,275 5,559

Consumer — 270 270 270

Loans, net of unearned income $ 51,999 $ 14,064 $ 66,063 $ 15,052

The increase in collateral dependent loans from December 31, 2024 is primarily due to acquired collateral dependent loans from The First and the migration of a large relationship resulting from a bankruptcy.

Allowance for Credit Losses on Unfunded Loan Commitments

2 unchanged sentences

Beginning balance $ 14,943 $ 16,918

Recovery of credit losses on unfunded loan commitments ( 1,975 ) ( 3,200 )

Provision for (reversal of) credit losses on unfunded loan commitments 14,884 ( 1,975 )

Ending balance $ 29,827 $ 14,943

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 6 – Premises and Equipment

5 unchanged sentences

Computer equipment 37,465 28,577

Autos 180 144

Transportation equipment 1,491 180

Lease right-of-use assets 55,920 46,811

2 unchanged sentences

Net $ 465,141 $ 279,796

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 5 - Premises and Equipment (continued)

Depreciation expense was $ 21,087 , $ 14,911 and $ 14,881 for the years ended December 31, 2025, 2024 and 2023, respectively.

15 unchanged sentences

Balance at December 31, 2024 $ 8,673

Acquired OREO 11,032

Transfers of loans 12,341

1 unchanged sentence

Dispositions ( 16,190 )

Other ( 2,425 )

Balance at December 31, 2025 $ 15,191

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 6 – Other Real Estate Owned (continued)

At December 31, 2025 and 2024, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $ 10,552 and $ 505 , respectively.

8 unchanged sentences

Total $ 1,651 $ 858 $ 267

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 8 – Goodwill and Other Intangible Assets

3 unchanged sentences

Balance at December 31, 2023 $ 988,898 $ 2,767 $ 991,665

Measurement period adjustments to goodwill from the Continental Republic Capital, LLC acquisition ( 43 ) — ( 43 )

Balance at December 31, 2023 $ 988,898 $ 2,767 $ 991,665

Sale of the insurance agency — ( 2,767 ) ( 2,767 )

Balance at December 31, 2024 988,898 — 988,898

Additions to goodwill from The First merger 418,196 — 418,196

Divestiture of SGIS ( 1,254 ) — ( 1,254 )

Balance at December 31, 2025 $ 1,405,840 $ — $ 1,405,840

The following table provides a summary of finite-lived intangible assets as of the dates presented:

10 unchanged sentences

Total finite-lived intangible assets $ 90,162 $ ( 76,057 ) $ 14,105

Core deposit intangible amortization expense for the years ended December 31, 2024, 2023 and 2022 was $ 3,498 , $ 4,044 and $ 4,941 , respectively.

Customer relationship intangible amortization expense for the year ended December 31, 2024, 2023 and 2022 was $ 1,192 , $ 1,337 and $ 181 , respectively.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 7 – Goodwill and Other Intangible Assets (continued)

Total intangible amortization expense, which includes amortization expense for both core deposit intangibles and customer relationship intangibles, for the years ended December 31, 2025, 2024 and 2023 was $ 27,103 , $ 4,691 and $ 5,380 , respectively.

The remaining weighted average life of finite-lived intangible assets is 8.84 years at December 31, 2025.

The remaining weighted average life of finite-lived intangible assets acquired during 2025 is 9.25 years at December 31, 2025.

The estimated amortization expense of finite-lived intangible assets for the five succeeding fiscal years is summarized as follows:

6 unchanged sentences

Thereafter 29,152 — 29,152

Total $ 144,166 $ 2,446 $ 146,612

No impairment was identified for the Company’s goodwill or its other intangible assets as a result of the testing performed during 2025, 2024 or 2023.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 9 – Mortgage Servicing Rights

2 unchanged sentences

Carrying value at January 1, 2024 $ 91,688

Capitalization 17,079

Sale of MSRs ( 19,539 )

Additions 10,195

Amortization ( 9,353 )

1 unchanged sentence

Sale of MSRs ( 7,886 )

Capitalization 10,195

Additions 9,144

Amortization ( 8,978 )

2 unchanged sentences

During 2025, the Company sold a portion of its MSR portfolio for net proceeds of $ 9,353 , resulting in a gain of $ 1,467 .

The Company recognized a gain of $ 547 in 2023 related to a holdback of previously sold MSR assets.

During 2024, the Company sold a portion of its MSR portfolio for net proceeds of $ 23,011 , resulting in a gain of $ 3,472 .

Data and key economic assumptions related to the Company’s mortgage servicing rights as of December 31 are as follows:

20 unchanged sentences

Interest-bearing demand deposits (1)

11,665,185 7,879,917

Savings deposits 1,280,031 809,430

Time deposits 3,483,894 2,479,284

2,479,284 2,695,229

Total deposits $ 21,473,070 $ 14,572,612

(1) Includes brokered deposits in the amount of $ 0 and $ 461,441 as of December 31, 2024 and 2023, respectively.

The approximate scheduled maturities of time deposits, including brokered deposits, at December 31, 2024 are as follows:

(1) Interest-bearing demand deposits include interest-bearing transactional accounts and money market deposits.

The approximate scheduled maturities of time deposits at December 31, 2025 are as follows:

2026 $ 3,317,995

3 unchanged sentences

Certain executive officers and directors and their respective affiliates had amounts on deposit with Renasant Bank of approximately $ 29,987 and $ 21,883 at December 31, 2025 and 2024, respectively.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 11 – Short-Term Borrowings

4 unchanged sentences

Total short-term borrowings $ 555,774 $ 108,018

Repurchase Agreements

Securities sold under agreements to repurchase (“repurchase agreements”) represent funds received from customers, generally on an overnight or continuous basis, which are collateralized by investment securities owned or, at times, borrowed and re-hypothecated by the Company.

6 unchanged sentences

The terms of the Company’s repurchase agreements are continuous but may be canceled at any time by the Company or the customer.

Federal Funds Purchased

Federal funds purchased, of which there were none outstanding at December 31, 2025 and 2024, are short term borrowings, generally overnight borrowings, between financial institutions that are generally used to maintain reserve requirements at the Federal Reserve Bank or elsewhere.

Short-term borrowings from the FHLB (i.e.

advances with original maturities of less than one year) are used to meet anticipated short-term liquidity needs.

FHLB and Federal Reserve Discount Window

Short-term borrowings from the FHLB (i.e., advances with original maturities of less than one year) are used to meet anticipated short-term liquidity needs.

The Company had availability on unused lines of credit with the FHLB of $ 5,574,759 at December 31, 2025.

The Company also had credit available at the Federal Reserve Discount Window in the amount of $ 681,719 .

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 10 – Short-Term Borrowings (continued)

The average balances and cost of funds of short-term borrowings for the years ending December 31 are summarized as follows:

8 unchanged sentences

There were no amounts outstanding under these lines of credit at December 31, 2025 or 2024.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Long-Term Debt

7 unchanged sentences

Long-term FHLB borrowings are used to match fund fixed rate loans in order to minimize interest rate risk and also are used to meet day-to-day liquidity needs, particularly when the cost of such borrowings compares favorably to the rates required to attract deposits.

The Company did not prepay any outstanding long-term advances from the FHLB during 2023 and 2022.

The Company did not have any outstanding long-term advances from the FHLB during 2025 and 2024.

The total amount of the credit available to the Company from the FHLB at December 31, 2025 was $ 5,574,759 .

Junior Subordinated Debentures

5 unchanged sentences

The Company has entered into an agreement which fully and unconditionally guarantees the capital securities of each trust subject to the terms of the guarantee.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 11 – Long-Term Debt (continued)

The interest rate on the debentures reprices quarterly equal to the three-month CME Term SOFR at the determination date plus the applicable spread.

The debentures owned by the respective trusts are currently redeemable at par.

The Company assumed junior subordinated debentures from The First with a carrying value of $ 25,653 .

The following table provides the details of the debentures as of December 31, 2025:

10 unchanged sentences

Brand Trust IV 3,093 3,284 401 2038 3,191

FMB Trust I 6,186 6,228 311 2033 6,041

Liberty Trust II 10,310 9,818 174 2036 9,508

The First Trust II 4,124 3,925 191 2037 3,801

The First Trust III 6,186 5,808 166 2037 5,622

Total $ 140,632 $ 136,235

The Company has entered into an interest rate swap agreement on the First M&F Statutory Trust I pursuant to which the Company received an amount approximately equal to the interest paid on the debentures and paid a fixed rate of interest equal to 4.18 % at December 31, 2024.

Federal Reserve guidelines limit the amount of securities that, similar to the Company’s junior subordinated debentures, are includable in Tier 1 capital, but these guidelines did not impact the amount of debentures the Company includes in Tier 1 capital.

Although the Company’s existing junior subordinated debentures are currently unaffected by these Federal Reserve guidelines, on account of changes enacted as part of the Dodd-Frank Act, any new trust preferred securities are not includable in Tier 1 capital.

For more information about the Company’s derivative financial instruments, see Note 13, “Derivative Instruments.”

Federal Reserve guidelines limit the amount of securities that, similar to the Company’s junior subordinated debentures, are includable in Tier 1 capital, but until the Company’s merger with The First on April 1, 2025, these guidelines did not impact the

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Long-Term Debt (continued)

amount of debentures the Company includes in Tier 1 capital.

Following the merger with The First, all of the Company's junior subordinated debentures are now included in Tier 2 capital.

Subordinated Notes

The Company has issued and sold fixed-to-floating rate subordinated notes (referred to collectively as the “Notes”) in underwritten public offerings at a price equal to 100 % of the aggregate principal amounts of the Notes.

Interest on the Notes is payable semi-annually in arrears at the applicable fixed rate until but excluding the fixed to floating transition date and payable quarterly in arrears thereafter at the applicable benchmark rate plus spread, until but excluding the maturity date or earlier redemption date.

The Company has issued and sold fixed-to-floating rate subordinated notes in underwritten public offerings at a price equal to 100 % of the aggregate principal amounts of the notes.

Interest on the these notes is payable semi-annually in arrears at the applicable fixed rate until but excluding the fixed to floating transition date and payable quarterly in arrears thereafter at the applicable benchmark rate plus spread until but excluding the maturity date or earlier redemption date.

The Company assumed $ 37,000 fixed-to-floating rate subordinated notes due May 1, 2033 (the “2033 Notes”) and $ 60,000 fixed-to-floating rate subordinated notes due October 1, 2030 (the “2030 Notes”) in connection with the merger with The First.

Interest on the 2033 Notes is payable quarterly in arrears at the applicable interest rate, and interest on the 2030 Notes is payable semi-annually in arrears at 4.25 % until but excluding the fixed to floating transition date and payable quarterly in arrears thereafter at the applicable benchmark rate plus spread until but excluding the maturity date or earlier redemption date.

The subordinated notes issued by the Company and assumed from The First are referred to collectively as the “Notes”.

A summary of the Notes is as follows:

3 unchanged sentences

November 23, 2021 $ 200,000 3.00 % December 1, 2026 3-month CME Term SOFR 191 $ 196,400 December 1, 2031

Debt issuance costs and fair value adjustment ( 19,702 )

April 30, 2018 $ 37,000 6.40 % May 1 ,2028 3-month CME Term SOFR 339 $ 37,000 May 1, 2033

Debt issuance costs ( 12,280 )

Fair value adjustment ( 1,996 )

Total subordinated debt $ 359,124

Beginning with the fixed to floating transition date and on any interest payment date thereafter, the Company may redeem the applicable Notes in whole or in part at a redemption price equal to 100 % of the principal amount of the respective Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 11 – Long-Term Debt (continued)

The Company may also redeem any series of the Notes at any time, at the Company’s option, in whole or in part, if:

5 unchanged sentences

There is no sinking fund for the benefit of the Notes, and none of the Notes are convertible or exchangeable.

On October 1, 2025, the Company redeemed $ 60,000 of the fixed-to floating subordinated notes it assumed in connection with its acquisition of The First.

During 2023, the Company purchased and subsequently extinguished $ 3,300 of its aggregate $ 200,000 fixed-to-floating subordinated notes and realized a gain of $ 620 .

During October and December 2021, respectively, the Company redeemed at par its $ 15,000 6.50 % fixed-to-floating rate subordinated notes and redeemed $ 30,000 of its aggregate $ 60,000 5.00 % fixed-to-floating rate subordinated notes, with the remaining $ 30,000 of such notes redeemed in the first quarter of 2022.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Long-Term Debt (continued)

The aggregate stated maturities of long-term debt outstanding at December 31, 2025, are summarized as follows:

4 unchanged sentences

Note 13 – Employee Benefit and Deferred Compensation Plans

(In Thousands, Except Share Data)

(Dollar 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.

The Company’s funding policy is to contribute annually to the plan an amount not less than the minimum required contribution, as determined annually by consulting actuaries in accordance with funding standards imposed under the Internal Revenue Code of 1986, as amended.

No contributions were made or required in 2025 or 2024.

7 unchanged sentences

Coverage ceases when a retiree attains age 65 and is eligible for Medicare.

The Company did not contribute to the plan in 2024 and contributed $ 41 to the plan in 2023;

The Company did not contribute to the plan in 2025 or 2024;

the Company expects to contribute approximately $ 50 in 2026.

The Company accounts for its obligations related to retiree benefits in accordance with ASC 715, “ Compensation – Retirement Benefits .” The assumed rate of increase in the per capita cost of covered benefits (i.e., the health care cost trend rate) for 2024 is 7.5 %.

Increasing or decreasing the assumed health care cost trend rates by one percentage point in each year would not materially increase or decrease the accumulated post-retirement benefit obligation or the service and interest cost components of net periodic post-retirement benefit costs as of December 31, 2024 and for the year then ended.

The assumed rate of increase in the per capita cost of covered benefits (i.e., the health care cost trend rate) for 2025 is 8.55 %.

Renasant Corporation and Subsidiaries

9 unchanged sentences

Plan participants’ contributions — — 17 21

Actuarial (gain) loss ( 620 ) 74 ( 89 ) ( 21 )

Actuarial loss (gain) 701 ( 620 ) ( 190 ) ( 89 )

Benefits paid ( 1,744 ) ( 1,798 ) ( 16 ) ( 17 )

9 unchanged sentences

Discount rate used to determine the benefit obligation 4.99 % 5.37 % 4.26 % 4.99 %

The funded status at end of the year for Pension Benefits - Renasant and Other Benefits are included in “Other assets” and “Other liabilities,” respectively, on the Consolidated Balance Sheets.

The discount rate assumptions at December 31, 2025 were determined using a yield curve approach.

1 unchanged sentence

The selected discount rate is the rate that produces the same present value of the plans’ projected benefit payments.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Employee Benefit and Deferred Compensation Plans (continued)

The components of net periodic benefit cost and other amounts recognized in other comprehensive income for the defined benefit pension and post-retirement health plans for the years ended December 31, 2025, 2024 and 2023 are as follows:

6 unchanged sentences

Net periodic benefit cost 365 432 282 ( 68 ) ( 72 ) ( 38 )

Net actuarial (gain) loss arising during the period ( 455 ) ( 60 ) 4,155 ( 89 ) ( 20 ) ( 48 )

Net actuarial gain arising during the period ( 419 ) ( 455 ) ( 60 ) ( 190 ) ( 89 ) ( 20 )

Amortization of net actuarial (loss) gain recognized in net periodic pension cost ( 485 ) ( 516 ) ( 523 ) 88 94 61

4 unchanged sentences

Expected return on plan assets 5.90 % 5.20 % 6.25 % N/A N/A N/A

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Employee Benefit and Deferred Compensation Plans (continued)

Future estimated benefit payments under the Renasant defined benefit pension plan and other benefits are as follows:

16 unchanged sentences

Total $ 436 $ ( 140 )

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Employee Benefit and Deferred Compensation Plans (continued)

Approximately 85 % of the pension plan’s assets are invested in a collective trust, which in turn invests in other collective or pooled trusts with individual investment mandates.

2 unchanged sentences

Management’s investment committee periodically reviews the collective trust’s performance and asset allocation to ensure that the plan’s investment objectives are satisfied and that the investment strategy of the trust has not materially changed.

The remaining 13 % of the pension plan’s assets are managed by Park Place Capital, a wholly owned subsidiary of Renasant Bank.

The remaining 15 % of the pension plan’s assets are managed by Park Place Capital Corporation, a wholly owned subsidiary of the Company.

These assets are invested in large cap securities on which covered call options are written to generate income.

The expected long-term rate of return was estimated using market benchmarks for investment classes applied to the plan’s target asset allocation and was computed using a valuation methodology which projects future returns based on current valuations rather than historical returns.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Employee Benefit and Deferred Compensation Plans (continued)

The fair values of the Company’s defined benefit pension plan assets by category at December 31, 2025 and 2024 are below.

Level 1 includes cash and cash equivalents and corporate stocks, in which the fair value is determined by quoted market prices.

Level 2 includes U.S.

government securities in which the value is determined by market prices of similar securities.

Investments in collective trusts consist of trusts that invest primarily in liquid equity and fixed income securities and have a small direct investment in real estate.

25 unchanged sentences

$ 2,402 $ 156 $ — $ 16,590 $ 19,148

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Employee Benefit and Deferred Compensation Plans (continued)

Other Retirement Plans

20 unchanged sentences

A director or officer’s beneficiaries may receive an additional preretirement death benefit from the Deferred Income Plan when the officer or director has continuously deferred at rates prescribed by the Company since January 1, 2005, and when such officer or director dies while employed by the Company or serving as a director.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Employee Benefit and Deferred Compensation Plans (continued)

The Company’s Deferred Stock Unit and Deferred Income Plan are unfunded.

1 unchanged sentence

The Company is both the owner and beneficiary of the policies.

The expense recorded in 2024, 2023 and 2022 for the Company’s Deferred Stock Unit and Deferred Income Plan, including deferrals, was $ 3,269 , $ 3,265 and $ 1,486 , respectively.

In connection with the Company’s acquisition of Brand Group Holdings, Inc., the Company assumed the Brand Group Holdings, Inc.

The expense recorded in 2025, 2024 and 2023 for the Company’s Deferred Stock Unit and Deferred Income Plan was $ 2,189 , $ 2,270 and $ 2,210 , respectively.

In connection with the Company’s acquisition of Brand Group Holdings, Inc.

in 2018, the Company assumed the Brand Group Holdings, Inc.

Deferred Compensation Plan.

6 unchanged sentences

The plans are designed to provide four officers specified annual benefits for a 15 -year period upon the attainment of a designated retirement age.

Liabilities associated with the SERPs totaled $ 3,143 and $ 3,345 at December 31, 2024 and 2023, respectively.

The plans are not qualified under Section 401 of the Internal Revenue Code of 1986, as amended.

In 2025, the Company assumed SERPs, supplemental director retirement plans and other deferred compensation agreements in connection with its acquisition of The First.

These SERPs, supplemental director retirement plans and other deferred compensation agreements were designed to provide officers of the The First (or former directors and officers of entities that The First had acquired prior to its acquisition by the Company) specified annual benefits, in an amount and on such schedule as specified in the particular plan.

Liabilities associated with these plans totaled $ 13,518 and $ 3,143 at December 31, 2025 and 2024, respectively.

The plans are not qualified under Code Section 401.

Incentive Compensation Plans

4 unchanged sentences

The expense associated with the plan for 2025, 2024 and 2023 was $ 11,655 , $ 8,659 and $ 10,303 , respectively.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Employee Benefit and Deferred Compensation Plans (continued)

In 2020, the Company implemented the 2020 Long-Term Incentive Compensation Plan that provides for the grant of stock options and stock appreciation rights and the award of restricted stock and restricted stock units.

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Time-based restricted stock awards relate to a fixed number of shares that vest at the end of a designated service period.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 12 – Employee Benefit and Deferred Compensation Plans (continued)

In 2025, the Company made performance-based and time-based restricted stock awards;

restricted stock units were not awarded.

restricted stock units were not awarded, and none were outstanding from previous years.

The fair value of each restricted stock award is the closing price of the Company’s common stock on the business day immediately preceding the date of the award.

For restricted stock awarded under the plan, the Company recorded compensation expense of $ 13,562 , $ 13,458 and $ 11,244 for the years ended December 31, 2024, 2023 and 2022, respectively.

In addition, The First maintained a long-term equity compensation plan, and the restricted stock awarded as of the date of the Company’s acquisition of The First was converted into adjusted restricted stock of the Company, subject to the same terms and conditions as prior to the merger.

For restricted stock awarded under the plan and The First restricted stock awards converted into Renasant restricted stock awards, the Company recorded compensation expense of $ 17,723 , $ 13,562 and $ 13,458 for the years ended December 31, 2025, 2024 and 2023, respectively.

The total income tax benefit was $ 4,375 , $ 3,138 and $ 3,292 , respectively.

The total fair value of shares vested was $ 15,454 , $ 11,715 and $ 9,716 for the years ended December 31, 2025, 2024 and 2023, respectively.

The following table summarizes the changes in restricted stock as of and for the year ended December 31, 2025:

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Stock Weighted

Not vested at beginning of year 169,575 $ 36.38 779,564 $ 36.20

Nonvested at beginning of year 203,115 $ 34.32 801,181 $ 35.08

Awarded 75,644 36.17 344,521 35.26

Converted — — 426,321 33.93

Vested ( 83,412 ) 35.49 ( 351,913 ) 35.94

Forfeited and cancelled — — ( 11,917 ) 35.23

Not vested at end of year 203,115 $ 34.32 801,181 $ 35.08

Nonvested at end of year 195,347 $ 34.54 1,208,193 $ 34.48

Unrecognized stock-based compensation expense related to restricted stock totaled $ 19,345 at December 31, 2025.

As of such date, the weighted average period over which the unrecognized expense is expected to be recognized was approximately 2.06 years.

At December 31, 2024, an aggregate of 2,418,071 shares of Company common stock were available for issuance under the Company’s employee benefit plans of which 955,493 shares were available for issuance under the Company’s 401(k) plan, 124,250 shares were available under the Company’s Deferred Stock Unit Plan, and 1,338,328 shares were available under the Company’s 2020 Long-Term Incentive Compensation Plan.

At December 31, 2025, an aggregate of 5,382,500 and 2,132,070 shares of Company common stock were authorized and available for issuance, respectively, under the Company’s employee benefit plans of which 2,200,000 and 977,133 shares were authorized and available for issuance, respectively, under the Company’s 401(k) plan, 467,500 and 114,755 shares were authorized and available, respectively, under the Company’s Deferred Stock Unit Plan, and 2,715,000 and 1,040,182 shares were authorized and available, respectively, under the Company’s 2020 Long-Term Incentive Compensation Plan.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 14 – Derivative Instruments

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The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Derivative Instruments (continued)

The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:

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Totals $ 1,985,932 $ 29,202 $ 934,200 $ 14,302

Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows, as of the dates presented:

Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments that are not designated as hedging instruments were as follows, as of the dates presented:

Year Ended December 31,

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Derivatives designated as cash flow hedges

Cash flow hedge relationships mitigate exposure to the variability of future cash flow or other forecasted transactions.

The Company uses interest rate swap contracts in an effort to manage future interest rate exposure on borrowings.

The swap hedging strategy converts the SOFR-based variable interest rate on the forecasted borrowings to a fixed interest rate.

The collar hedging strategy stabilizes interest rate fluctuation by setting both a floor and a cap.

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 manages the variable interest rate on the forecasted borrowings by using pay-fixed, receive-variable interest rate swaps.

The collar hedging strategy limits the benefit to interest income when

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 14 – Derivative Instruments (continued)

rates exceed the cap but protects interest income from interest rate fluctuations below the floor strike rate.

The Company expects the hedges to remain effective during the remaining terms of the swaps and collars, which run through March 2032.

The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:

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Totals $ — $ — $ 450,000 $ 598

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Derivative Instruments (continued)

The impact on other comprehensive income for the years ended December 31, 2024, 2023, and 2022, is described in Note 16, “Other Comprehensive Income (Loss).”

In October 2021, the Company terminated four interest rate swap contracts with notional amounts of $ 25,000 each.

These swaps hedged forecasted future FHLB borrowings which were no longer expected to occur.

As a result of the termination the Company recognized a gain of $ 4,676 for the year ended December 31, 2022.

There have been no such terminations since October 2021.

The impact on other comprehensive income for the years ended December 31, 2025, 2024, and 2023, is described in Note 17, “Other Comprehensive Income (Loss).” The impact on earnings is reflected in interest income on loans and interest expense on borrowings in the Consolidated Statements of Income

Derivatives designated as fair value hedges

Fair value hedges protect against changes in the fair value of an asset, liability or firm commitment.

The Company enters into interest rate swap agreements to manage interest rate exposure on certain of the Company’s fixed-to-floating rate subordinated notes.

The agreements convert the currently-fixed interest rates to SOFR-based variable interest rates.

The Company enters into interest rate swap agreements to manage the fair value exposure on certain of the Company’s fixed-rate subordinated and fixed-rate available-for-sale securities.

The agreements convert a fixed rate of interest to a variable rate of interest based on SOFR by using pay-variable, receive-fixed rate interest rate swaps.

The Company expects the hedges to remain effective during the remaining terms of the swaps which run through September 2031.

The following table provides a summary of the Company’s derivatives designated as fair value hedges as of the dates presented:

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Derivative liabilities:

Interest rate swaps Other Liabilities $ 100,000 $ 17,368 $ 100,000 $ 17,052

Interest rate swaps - subordinated notes Other Liabilities $ 100,000 $ 12,280 $ 100,000 $ 17,368

Interest rate swaps - securities Other Liabilities 3,430 2 — —

Totals $ 103,430 $ 12,282 $ 100,000 $ 17,368

The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:

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Interest rate swaps - subordinated notes Interest Expense $ 5,089 $ ( 317 ) $ 2,737

Interest rate swaps - securities Interest Income 6 — —

Derivative liabilities - hedged items:

Interest rate swaps - subordinated notes Interest Expense $ ( 5,089 ) $ 317 $ ( 2,737 )

Interest rate swaps - securities Interest Income ( 6 ) — —

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 Liability Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 14 – Derivative Instruments (continued)

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 December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024

Long-term debt $ 86,911 $ 81,648 $ 12,280 $ 17,369

Securities available for sale 17,780 — ( 6 ) —

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 a notional amount of $ 259,029 and 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 upon early termination of the swap transaction.

The Company’s sold risk participation agreements have a notional amount of $ 60,384 and have maturities between 2026 and 2032.

The maximum potential amount of future payments under these risk participation agreements as of December 31, 2025 was approximately $ 2,601 .

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 December 31, 2025 and 2024 was immaterial.

Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when the “right of setoff” 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.

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however, the Company has not elected to offset such financial instruments in the Consolidated Balance Sheets.

Initial margin and variation margin is accounted for as collateral.

When the Company posts cash for margin, it is recognized as a receivable.

When margin is posted or received in the form of securities, there is no accounting recognition for the pledge of securities, unless there is an event of default by one of the parties to the agreement.

For centrally cleared derivatives, variation margin is accounted for as settlement of the derivative fair value.

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:

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 13 – Derivative Instruments (continued)

Offsetting Derivative Assets Offsetting Derivative Liabilities

6 unchanged sentences

Gross amounts not offset in the consolidated balance sheets

Financial instruments 27,939 23,863 27,939 23,863

Financial collateral pledged — — 611 1,074

Financial instruments - derivative assets available for offset 17,110 27,939 17,110 27,939

Financial collateral (cash) pledged — — 20 611

Net amounts $ 4,757 $ 6,566 $ 520 $ —

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 15 – Income Taxes

(In Thousands)

Significant components of the provision for income taxes are as follows for the periods presented:

Significant components of the provision for income taxes from continuing operations are as follows for the periods presented:

Year Ended December 31,

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Total income tax expense does not reflect the tax effects of items that are included in other comprehensive income each period.

The tax effects included each period resulted in net expense in other comprehensive income of $ 4,012 and $ 19,716 in 2024 and 2023, respectively, and a net benefit in other comprehensive income of $ 67,453 in 2022.

The reconciliation of income taxes computed at the United States federal statutory tax rates to the provision for income taxes is as follows, for the periods presented:

The tax effects included each period resulted in net expense in other comprehensive income of $ 17,634 , $ 4,012 and $ 19,716 in 2025, 2024 and 2023, respectively.

We do not have any foreign operations, and accordingly all net income before income tax relates exclusively to operations within the United States.

The reconciliation of income taxes computed at the United States federal statutory tax rates to the provision for income taxes is as follows for the period presented in accordance with ASU 2023-09:

Year Ended December 31,

US federal statutory income tax rate $ 47,614 21.00 %

State and local income taxes, net of federal income tax effects (1)

Tax credits and related income tax effects

Low income housing tax credits and other tax benefits, net of proportional amortization (2)

( 1,026 ) ( 0.45 ) %

Transferrable energy tax credits, net of cost (3)

( 529 ) ( 0.23 ) %

Nontaxable or nondeductible items

Tax-exempt interest income ( 3,226 ) ( 1.42 ) %

Bank-owned life insurance ( 2,991 ) ( 1.32 ) %

Other 4,619 2.04 %

Changes in unrecognized tax benefits ( 54 ) ( 0.02 ) %

Other adjustments 817 0.35 %

Effective income tax rate $ 45,460 20.05 %

(1) State taxes in Alabama and Tennessee make up the majority of this category

(2) Includes tax credits and related benefits of $ 5,371 and proportional amortization of $ 4,345

(3) Includes transferrable tax credits of $ 5,315 and related cost of $ 4,786

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 15 – Income Taxes (continued)

The table below reconciles the Company’s tax expense at the U.S.

federal statutory income tax rate to tax expense at the effective tax rate, as previously disclosed prior to the adoption of ASU 2023-09, for the years ended December 31, 2024 and 2023.

Year Ended December 31,

statutory rate $ 51,443 $ 37,209

8 unchanged sentences

$ 49,508 $ 32,509

The effective tax rate was 20.21 % and 18.35 % for the years ended December 31, 2024 and 2023, respectively.

Income Tax Payments 2025

Federal $ 16,407

Mississippi 1,000

Other states 956

Total income taxes paid $ 18,363

Income taxes paid were $ 29,065 and $ 42,047 for the years ended December 31, 2024 and 2023, respectively.

Renasant Corporation and Subsidiaries

12 unchanged sentences

Lease liabilities under operating leases 14,228 12,423

Realized losses on securities — 4,892

Other 3,870 3,073

10 unchanged sentences

Net deferred tax assets $ 145,548 $ 87,035

The effective tax rate was 20.21 % and 18.35 % for the year ended December 31, 2024 and 2023, respectively.

The Company and its subsidiaries file a consolidated U.S.

The Company and its corporate, non-real estate investment trust subsidiaries file a consolidated U.S.

federal income tax return.

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The Company and its subsidiaries’ state income tax returns are open to audit under the statute of limitations for the years ended December 31, 2021 through 2024.

The Company previously had Federal net operating losses which were fully utilized in the year ending December 31, 2024.

No valuation allowance existed against these net operating losses, as we determined it was more likely than not they would be fully utilized.

The Company had unused Federal net operating losses of $ 80,173 at December 31, 2025;

there were no unused Federal net operating losses at December 31, 2024.

The Company had unused State net operating losses of $ 114,780 and $ 140 at December 31, 2025 and December 31, 2024, respectively.

No allowance existed against these net operating losses, as the Company determined it was more likely than not they would be fully realized.

Substantially all of the net operating losses were acquired as part of the acquisition of The First in April 2025.

Due to pre-existing ownership changes, the ability to utilize these net operating losses is limited under Code Section 382.

The amount of net operating losses disclosed above reflects the maximum amount that can be utilized pursuant to Code Section 382.

The Company has unused state tax credits in various jurisdictions for the year ended December 31, 2025 and 2024 of $ 15,575 and $ 11,115 , respectively, which can be carried forward for periods ranging from five to 25 years.

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Note 15 – Income Taxes (continued)

The table below presents the breakout of net operating losses as of December 31, 2023.

There were no net operating losses as of December 31, 2024.

Net Operating Losses

Federal $ 138

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, related to federal and state income tax matters as of December 31 follows below:

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The Company recognized accrued interest and penalties on unrecognized tax benefits as a component of income tax expense.

The Company holds investments in limited partnerships and similar entities (“LP”) that are not consolidated in the financial statements.

These LP construct, own, and operate affordable housing and similar projects.

The Company holds investments in limited partnerships and similar entities (“LPs”) that are not consolidated in the financial statements.

These LPs construct, own, and operate affordable housing, solar energy farms, and similar projects.

Typically, an unrelated third party is the general partner or managing member and is primarily responsible for overseeing and controlling these projects.

As an investor in these LP, certain tax credits (“ITC”), primarily Low-Income Housing Tax Credits under Section 42 of the Internal Revenue Code, are allocated to the Company.

These ITC are recognized as income tax benefits in the Company’s Consolidated Statements of Income over the period in which they are earned, which is typically ten years beginning when the related projects are placed in service as determined by the Internal Revenue Code and related regulations.

These investments are recorded to Other assets on the Consolidated Balance Sheets, and are amortized ratably based on the realization of ITC using the practical expedient method described in ASU 2014-01.

The balance of these investments recorded to Other assets was $ 13,366 and $ 11,951 at December 31 2024 and December 31 2023, respectively.

In the years ended December 31, 2024 and December 31, 2023, the Company recognized $ 2,977 and $ 1,844 of benefits from ITC, and recorded $ 2,851 and $ 1,741 of amortization on the LP investments, all of which were recorded to the Income taxes line of the Consolidated Statements of Income.

The non-income-tax-related income or expenses related to our LP entities were not significant in 2024 and 2023.

The Company is continuing to pursue opportunities to invest in similar LP entities, and as of December 31, 2024, had unfunded commitments related to similar ITC investments of $ 16,711 .

As an investor in these LPs, certain tax credits (“ITC”), primarily Low-Income Housing Tax Credits under Code Section 42 (“LIHTC”) and Energy Credits under Code Section 48, are allocated to the Company.

These ITC are recognized as income tax benefits in the Company’s Consolidated Statements of Income over the period in which they are earned, which is typically ten years and one year for LIHTC and Energy Credits, respectively, beginning when the related projects are placed in service, as determined under the Code and related regulations.

These investments are recorded to “Other assets” in the Consolidated Balance Sheets, and are amortized ratably based on the realization of ITC using the practical expedient method described in ASU 2014-01.

The balance of these investments recorded to Other assets was $ 44,157 and $ 13,366 at December 31, 2025 and 2024, respectively.

For the year ended December 31, 2025 and 2024, the Company recognized $ 4,599 and $ 2,977 , respectively, of benefits from ITC and recorded $ 4,371 and $ 2,851 , respectively, of amortization on the LP investments, all of which were recorded to the “Income taxes” line item in the Consolidated Statements of Income.

The non-income-tax-related income or expenses related to the Company’s LP investments were not significant in 2025 and 2024.

The Company is continuing to pursue opportunities to invest in similar LPs and as of December 31, 2025, had unfunded commitments related to similar ITC investments of $ 96,833 .

The Company’s risk of loss on these projects is generally mitigated by policies requiring that the project qualify for the expected ITC prior to making its investment.

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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 carries certain assets and liabilities at fair value on a recurring basis.

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 and liabilities at fair value.

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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:

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 15 – Fair Value Measurements (continued)

Securities available for sale :

Securities available for sale consist primarily of debt securities, such as obligations of U.S.

Securities available for sale consist of debt securities, such as obligations of U.S.

Government agencies and corporations and mortgage-backed securities.

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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.

All Level 2 securities, including state and political subdivisions, mortgage-backed securities and other debt securities are valued using model-based valuation techniques where all significant assumptions are observable.

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

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 16 – Fair Value Measurements (continued)

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.

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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 primarily agency loans which trade in active secondary markets.

6 unchanged sentences

Securities available for sale $ — $ 2,560,818 $ — $ 2,560,818

Total securities available for sale — 831,013 — 831,013

Derivative instruments — 47,098 — 47,098

7 unchanged sentences

Securities available for sale $ — $ 831,013 $ — $ 831,013

Other available for sale securities $ — $ 923,279 $ — $ 923,279

Total securities available for sale — 923,279 — 923,279

Derivative instruments — 38,954 — 38,954

6 unchanged sentences

There were no such transfers between levels of the fair value hierarchy during the year ended December 31, 2025.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 15 – Fair Value Measurements (continued)

For 2025 and 2024, 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.

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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 as of the dates presented the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets at period end and the level within the fair value hierarchy each is classified:

The following tables provide as of the dates presented the fair value measurement for assets measured at fair value on a nonrecurring basis that

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 16 – Fair Value Measurements (continued)

were still held on the Consolidated Balance Sheets at period end and the level within the fair value hierarchy each is classified:

Level 1 Level 2 Level 3 Totals

December 31, 2025

Individually evaluated loans, net of allowance for credit losses $ — $ — $ 38,374 $ 38,374

Collateral dependent loans $ — $ — $ 87,680 $ 87,680

OREO — — 3,538 3,538

2 unchanged sentences

December 31, 2024

Individually evaluated loans, net of allowance for credit losses $ — $ — $ 21,303 $ 21,303

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 assets measured on a nonrecurring basis:

Individually evaluated loans :

Loans that do not share similar risk characteristics such that they can be evaluated on a collective (pooled) basis are individually evaluated for credit losses each quarter 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.

Collateral dependent loans :

Loans that do not share similar risk characteristics such that they can be evaluated on a collective (pool) basis are individually evaluated for credit losses each quarter taking into account the fair value of the collateral less estimated selling costs.

Collateral may be real estate and/or business assets such as equipment, inventory and accounts receivable.

The fair value of real estate is determined based on appraisals by qualified licensed appraisers.

2 unchanged sentences

Since not all valuation inputs are observable, these nonrecurring fair value determinations are classified as Level 3.

Individually evaluated loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors previously identified.

Individually evaluated loans that were measured or re-measured at fair value had a carrying value of $ 53,157 and $ 37,515 at December 31, 2024 and December 31, 2023, respectively, and a reserve for these loans of $ 14,782 and $ 9,753 was included in the allowance for credit losses for the same periods.

Other real estate owned :

10 unchanged sentences

Fair value $ 3,538

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 15 – Fair Value Measurements (continued)

Mortgage servicing rights :

The fair value of mortgage servicing rights 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.

1 unchanged sentence

See Note 8, “Mortgage Servicing Rights,” for information about the valuation adjustments to the Company’s mortgage servicing rights.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 16 – Fair Value Measurements (continued)

The following table presents information as of December 31, 2025 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:

1 unchanged sentence

Value Valuation Technique Significant

Unobservable Inputs Range of Inputs

Individually evaluated loans, net of allowance for credit losses $ 38,374 Appraised value of collateral less estimated costs to sell Estimated costs to sell 4 - 10 %

Unobservable Inputs Inputs

Collateral dependent loans, net of allowance for credit losses $ 87,680 Appraised value of collateral less estimated costs to sell Estimated costs to sell 10 %

OREO $ 3,538 Appraised value of property less estimated costs to sell Estimated costs to sell 10 %

The input of 10% on impairments and OREO is based primarily on historical experience with respect to carrying and marketing costs.

Fair Value Option

The Company elected to measure all mortgage loans originated for sale on or after July 1, 2012 at fair value under the fair value option as permitted under ASC 825.

The Company elected to measure all mortgage loans originated for sale at fair value under the fair value option.

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.

Net losses of $ 3,309 resulting from fair value changes of these mortgage loans were recorded in income during 2024, as compared to net gains of $ 3,300 in 2023 and net losses of $ 9,854 in 2022.

The amounts do not reflect changes in fair values of related derivative instruments used to 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.

Net gains of $ 3,166 resulting from fair value changes of these mortgage loans were recorded in income during 2025, as compared to net losses of $ 3,309 in 2024 and net gains of $ 3,300 in 2023.

The Company’s valuation of mortgage loans held for sale incorporates an assumption for credit risk;

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Derivative instruments:

Unrealized holding gains on derivative instruments 508 130 378

Unrealized holding losses on derivative instruments ( 9,349 ) ( 2,389 ) ( 6,960 )

Amounts reclassified into earnings 4,203 1,074 3,129

Total derivative instruments ( 5,146 ) ( 1,315 ) ( 3,831 )

7 unchanged sentences

Unrealized holding gains on securities $ 1,455 $ 381 $ 1,074

Reclassification adjustment for gains realized in net income (2)

41,494 10,431 31,063

Amortization of unrealized holding losses on securities transferred to the held to maturity category 12,731 3,255 9,476

2 unchanged sentences

Unrealized holding losses on derivative instruments ( 2,636 ) ( 675 ) ( 1,961 )

Amounts reclassified into earnings 3,144 805 2,339

Total derivative instruments 508 130 378

11 unchanged sentences

Securities available for sale:

Unrealized holding losses on securities $ ( 285,829 ) $ ( 71,478 ) $ ( 214,351 )

Unrealized holding gains on securities $ 20,194 $ 5,066 $ 15,128

Reclassification adjustment for gains realized in net income (2)

41,494 10,431 31,063

Amortization of unrealized holding losses on securities transferred to the held to maturity category 13,557 3,466 10,091

1 unchanged sentence

Derivative instruments:

Unrealized holding gains on derivative instruments 20,118 5,125 14,993

Unrealized holding losses on derivative instruments ( 6,077 ) ( 1,553 ) ( 4,524 )

Amounts reclassified into earnings 3,519 900 2,619

Total derivative instruments ( 2,558 ) ( 653 ) ( 1,905 )

Defined benefit pension and post-retirement benefit plans:

Net loss arising during the period ( 4,107 ) ( 1,045 ) ( 3,062 )

Net gain arising during the period 80 20 60

Amortization of net actuarial loss recognized in net periodic pension cost (1)

Total defined benefit pension and post-retirement benefit plans 542 138 404

Total other comprehensive loss $ ( 264,687 ) $ ( 66,093 ) $ ( 198,594 )

Total other comprehensive income $ 73,229 $ 18,448 $ 54,781

(1) Included in Salaries and employee benefits in the Consolidated Statements of Income

(2) Included in Net (losses) gains on sales of securities and Impairment losses on securities in the Consolidated Statements of Income

(2) Included in Net losses on sales of securities and Impairment losses on securities in the Consolidated Statements of Income

The accumulated balances for each component of other comprehensive loss, net of tax, at December 31 were as follows:

4 unchanged sentences

Total accumulated other comprehensive loss $ ( 89,732 ) $ ( 142,608 ) $ ( 154,256 )

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 18 – Net Income Per Common Share

(In Thousands, Except Share Data)

(In Thousands, Except Share and Per Share Data)

Basic and diluted net income per common share calculations are as follows for the periods presented:

9 unchanged sentences

Net income per common share—diluted $ 2.07 $ 3.27 $ 2.56

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Outstanding 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:

8 unchanged sentences

The Company’s unfunded loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding at December 31, 2025 were $ 3,662,810 and $ 122,367 , respectively, compared to $ 2,856,308 and $ 90,267 , respectively, at December 31, 2024.

For information on the allowance for credit losses on unfunded loan commitments, see Note 5, “Allowance for Credit Losses”.

Various claims and lawsuits are pending against the Company and Renasant Bank.

2 unchanged sentences

Interest rate sensitivity is monitored by the Company for determining the net effect of potential changes in interest rates on the market value of both on- and off-balance sheet financial instruments.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 20 – Restrictions on Cash, Securities, Bank Dividends, Loans or Advances

5 unchanged sentences

The Company’s ability to pay dividends to its shareholders is substantially dependent on the ability of Renasant Bank to transfer funds to the Company in the form of dividends, loans and advances.

Under Mississippi law, a Mississippi bank with earned surplus in excess of three times capital stock may pay a dividend, subject to the approval of the Mississippi Department of Banking and Consumer Finance (the “DBCF”).

In addition, the FDIC has the authority to prohibit the Bank from engaging in business practices that the FDIC considers to be unsafe or unsound, which, depending on the financial condition of the Bank, could include the payment of dividends.

Accordingly, the approval of the DBCF is required prior to Renasant Bank paying dividends to the Company, and under certain circumstances the approval of the FDIC may be required.

The approval of the Mississippi Department of Banking and Consumer Finance (the “DBCF”) is required prior to the Bank paying dividends to the Company, and under certain circumstances the Federal Reserve approval may also be required.

Under Mississippi law, a Mississippi bank may not pay dividends unless its earned surplus is in excess of three times capital stock.

A Mississippi bank with earned surplus in excess of three times capital stock may pay a dividend, subject to the approval of the DBCF.

In addition, Federal Reserve regulations prohibit a member bank from paying a dividend without prior approval from the Federal Reserve if either (1) the total of all dividends declared during the calendar year, including the proposed dividend, exceeds the sum of the bank’s net income for the current year plus its retained net income of the prior two calendar years or (2) the dividend would exceed the bank’s undivided profits as reportable on its Reports of Condition and Income.

In this latter scenario, Federal Reserve regulations also require that at least two-thirds of the bank’s shareholders approve the proposed dividend.

Accordingly, the approval of the DBCF is required prior to the Bank paying dividends to the Company, and under certain circumstances Federal Reserve approval may also be required.

At December 31, 2025, the Bank’s earned surplus exceeded the Bank’s capital stock by more than ten times.

In addition to the FDIC and DBCF restrictions on dividends payable by the Bank to the Company, the Federal Reserve has provided guidance on the criteria that it will use to evaluate the request by a bank holding company to pay dividends in an aggregate amount that will exceed the company’s earnings for the period in which the dividends will be paid, which did not apply to the Company in 2024 or 2023.

For purposes of this analysis, “dividend” includes not only dividends on preferred and common equity but also dividends on debt underlying trust preferred securities and other Tier 1 capital instruments.

The Federal Reserve’s criteria evaluates whether the holding company (1) has net income over the past four quarters sufficient to fully fund the proposed dividend (taking into account prior dividends paid during this period), (2) is considering stock repurchases or redemptions in the quarter, (3) does not have a concentration in commercial real estate and (4) is in good

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 19 – Restrictions on Cash, Securities, Bank Dividends, Loans or Advances (continued)

supervisory condition, based on its overall condition and its asset quality risk.

In addition to the Federal Reserve and DBCF restrictions on dividends payable by the Bank to the Company, the Federal Reserve has provided guidance on the criteria that it will use to evaluate the request by a bank holding company to pay dividends in an aggregate amount that will exceed the company’s earnings for the period in which the dividends will be paid.

For purposes of this analysis, “dividend” includes not only dividends on preferred and common equity but also dividends on debt underlying trust preferred securities and Tier 1 capital instruments.

A holding company not meeting these criteria will require more in-depth consultations with the Federal Reserve.

With respect to the second quarter of 2025, due to the impact of the Day 1 acquisition provision and the merger and conversion related expenses we incurred in such quarter, the Company's net income for the immediately-preceding four quarters was not sufficient to cover the second quarter dividend, and accordingly Federal Reserve consultation was necessary prior to the payment of our June 30, 2025 dividend.

The Company did not otherwise require regulatory approval for dividends paid in 2024 or 2025.

Federal Reserve regulations also limit the amount Renasant Bank may loan to the Company unless such loans are collateralized by specific obligations.

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Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 21 – Regulatory Matters (continued)

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.

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Common equity Tier 1 capital (“CET1”) generally consists of common stock, retained earnings, accumulated other comprehensive income and certain minority interests, less certain adjustments and deductions.

In addition, the Company must maintain a “capital conservation buffer,” which is a specified amount of CET1 in addition to the amount necessary to meet

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 20 – Regulatory Matters (continued)

minimum risk-based capital requirements.

In addition, the Company and the Bank must maintain a “capital conservation buffer,” which is a 2.5% of CET1 to risk-weighted assets in addition to the amount necessary to meet minimum risk-based capital requirements.

The capital conservation buffer is designed to absorb losses during periods of economic stress.

If the Company’s ratio of CET1 to risk-weighted capital is below the capital conservation buffer, the Company will face restrictions on its ability to pay dividends, repurchase outstanding stock and make certain discretionary bonus payments.

The required capital conservation buffer is 2.5% of CET1 to risk-weighted assets in addition to the amount necessary to meet minimum risk-based capital requirements.

If the Bank’s ratio of CET1 to risk-weighted capital is below the capital conservation buffer, the Bank will face limitations on capital distributions, including the payment of dividends to the Company.

As previously disclosed, the Company adopted CECL as of January 1, 2020.

3 unchanged sentences

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-size businesses including checking and savings accounts, business and personal loans, asset-based lending, factoring and equipment leasing, as well as safe deposit and night depository facilities.

• The Insurance segment included a full service insurance agency offering all major lines of commercial and personal insurance through major carriers.

Effective July 1, 2024, the Bank sold substantially all of the assets of its Insurance segment.

• 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.

• The Community Banks segment delivers a complete range of banking and financial services to individuals and small to medium-size 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.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 22 – Segment Reporting (continued)

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 investment services through a third party broker-dealer.

The Financial Services division also provides administrative and compliance services for certain mutual funds.

• The Company maintained an insurance segment through Renasant Insurance, Inc., which offered all lines of commercial and personal insurance through major carriers.

Effective July 1, 2024, the Bank sold substantially all of the assets of Renasant Insurance, Inc.

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 the CODM 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 the Community Banks, Insurance and the Wealth Management segments reflect their 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 which are necessary for purposes of reconciling to the consolidated amounts.

The CODM evaluates the financial performance of the segments by evaluating net income as the primary measure of segment performance, as well as revenue streams, significant expenses and budget to actual results, and the CODM 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 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.”

The following table provides financial information for the Company’s operating segments as of and for the years ended December 31, 2024, 2023 and 2022:

The following table provides financial information for the Company’s reportable operating segments as of and for the years ended December 31, 2025, 2024 and 2023.

All capital expenditures for assets are attributed to the Community Banks segment.

Banks Insurance Wealth

Management Other Consolidated

Management Total Segments Other Consolidated

Total interest income $ 1,262,107 $ — $ 62 $ 1,262,169 $ 90 $ 1,262,259

5 unchanged sentences

Net occupancy and equipment 62,641 — 910 63,551 100 63,651

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 21 – Segment Reporting (continued)

Banks Insurance Wealth

Management Other Consolidated

Other segment expenses (1)

5 unchanged sentences

Goodwill 1,405,840 — — 1,405,840 — 1,405,840

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 22 – Segment Reporting (continued)

Banks Insurance Wealth

Management Total Segments Other Consolidated

Total interest income $ 886,666 $ 942 $ 64 $ 887,672 $ 105 $ 887,777

27 unchanged sentences

(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 include data processing, legal and professional fees, advertising and public relations, communications and other miscellaneous expenses.

5 unchanged sentences

Notes to Consolidated Financial Statements

Note 21 – Segment Reporting (continued)

(3) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications, restructuring charges, merger and conversion related expenses and other miscellaneous expenses.

Other segment expenses for Insurance include data processing, advertising and public relations, communications and other miscellaneous expenses.

Note 23 – Renasant Corporation (Parent Company Only) Condensed Financial Information

2 unchanged sentences

Cash and cash equivalents $ 303,387 $ 405,782

$ 405,782 $ 169,597

Investment in bank subsidiary (2)

2,694,503 2,541,195

Investment in subsidiaries 4,050,288 2,694,503

Accrued interest receivable on bank balances 2 27

7 unchanged sentences

Total liabilities and shareholders’ equity $ 4,403,021 $ 3,131,038

(1) Eliminates in consolidation, with the exception of $ 2,092 and $ 1,987 in 2024 and 2023, respectively, pledged for collateral and held at non-subsidiary bank

(2) Eliminates in consolidation

Statements of Income

1 unchanged sentence

2025 2024 2023

Dividends from bank subsidiary (1)

$ 75,907 $ 72,042 $ 68,114

Interest income from bank subsidiary (1)

Dividends from subsidiaries $ 101,764 $ 75,907 $ 72,042

Interest income from subsidiaries 14 39 28

Other dividends 278 270 260

4 unchanged sentences

Income tax benefit ( 8,701 ) ( 7,842 ) ( 7,577 )

Equity in undistributed net income of bank subsidiary (1)

141,813 94,396 115,763

Equity in undistributed net income of subsidiaries 105,008 141,813 94,396

Net income $ 181,272 $ 195,457 $ 144,678

(1) Eliminates in consolidation

Renasant Corporation and Subsidiaries

7 unchanged sentences

Adjustments to reconcile net income to net cash provided by operating activities:

Equity in undistributed net income of bank subsidiary ( 141,813 ) ( 94,396 ) ( 115,763 )

Equity in undistributed net income of subsidiaries ( 105,008 ) ( 141,813 ) ( 94,396 )

Amortization/depreciation 1,693 1,425 1,770

Increase (decrease) in other assets 6,540 ( 8,824 ) 284

Increase in other liabilities 11,303 8,921 9,225

(Decrease) increase in other assets ( 17,786 ) 6,540 ( 8,824 )

(Decrease) increase in other liabilities ( 46,511 ) 11,303 8,921

Net cash provided by operating activities 13,660 72,912 52,149

Investing activities

Sales and maturities of securities and available for sale — — 2,000

Net cash paid in acquisition ( 24,115 ) — —

Net cash provided by investing activities ( 24,115 ) — —

1 unchanged sentence

Cash paid for dividends ( 78,604 ) ( 53,727 ) ( 50,279 )

Repayment of long-term debt — — ( 30,000 )

Repurchase of shares in connection with stock repurchase program ( 13,336 ) — —

Proceeds from equity offering — 217,000 —

Net cash provided by (used in) financing activities 163,273 ( 50,279 ) ( 79,991 )

Increase (decrease) in cash and cash equivalents 236,185 1,870 ( 16,699 )

Net cash (used in) provided by financing activities ( 91,940 ) 163,273 ( 50,279 )

(Decrease) increase in cash and cash equivalents ( 102,395 ) 236,185 1,870

Cash and cash equivalents at beginning of year 405,782 169,597 167,727

Cash and cash equivalents at end of year $ 303,387 $ 405,782 $ 169,597

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 24 – Leases

2 unchanged sentences

Lessor Arrangements

The Company finances various types of equipment arrangements for customers through operating, direct financing and sales-type leases.

As of December 31, 2025 and 2024, the net investment in these leases was $ 29,531 and $ 30,846 , comprised of $ 25,124 and $ 26,655 in lease receivables, $ 8,035 and $ 7,961 in residual balances and $ 3,628 and $ 3,770 in deferred income, respectively.

In order to mitigate potential exposure to residual asset risk, the Company utilizes first amendment or terminal rental adjustment clause leases.

For the twelve months ended December 31, 2024 and 2023, the Company generated $ 1,080 and $ 1,441 in income from these leases, respectively, which is included in interest income on loans on the Consolidated Statements of Income.

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 23 – Leases (continued)

For the years ended December 31, 2025 and 2024, the Company generated $ 960 and $ 1,080 in income from these leases, respectively, which is included in interest income on loans on the Consolidated Statements of Income.

The maturities of the lessor arrangements outstanding at December 31, 2025 is presented in the table below.

3 unchanged sentences

As of December 31, 2025 and 2024, right-of-use assets totaled $ 55,920 and $ 46,811 and lease liabilities totaled $ 57,227 and $ 49,385 , respectively.

These amounts are included in “Premises and equipment, net” and “Other liabilities” on the Consolidated Balance Sheets.

The table below provides the components of lease cost and supplemental information for the periods presented.

10 unchanged sentences

Right-of-use assets obtained in exchange for new lease liabilities - operating leases $ 18,925 $ 4,630

Renasant Corporation and Subsidiaries

Notes to Consolidated Financial Statements

Note 24 – Leases (continued)

The maturities of the lessee arrangements outstanding at December 31, 2025 are presented in the table below.

7 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 8. Financial Statements and Supplementary Data