49 unchanged sentences
(In Thousands, Except Per Share Data)
−Removed: Three Months Ended
+Added: Three Months Ended Six Months Ended
+Added: June 30, June 30,
+Added: 2026 2025 2026 2025
Interest income
42 unchanged sentences
(In Thousands)
−Removed: Three Months Ended
+Added: Three Months Ended Six Months Ended
+Added: June 30, June 30,
+Added: 2026 2025 2026 2025
Net income $ 87,091 $ 1,018 $ 175,319 $ 42,536
5 unchanged sentences
Derivative instruments:
−Removed: Unrealized holding losses on derivative instruments ( 659 ) ( 2,014 )
+Added: Unrealized holding gains (losses) on derivative instruments 148 ( 2,065 ) ( 511 ) ( 4,079 )
Amounts reclassified into earnings 627 700 1,253 1,392
10 unchanged sentences
Common Stock Treasury Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Total
−Removed: Three Months Ended March 31, 2026 Shares Amount
+Added: Six Months Ended June 30, 2026 Shares Amount
Balance at January 1, 2026 94,636,207 $ 488,612 $ ( 103,494 ) $ 2,392,997 $ 1,196,522 $ ( 89,732 ) $ 3,884,905
8 unchanged sentences
Balance at March 31, 2026 92,881,329 $ 488,612 $ ( 173,835 ) $ 2,388,649 $ 1,263,116 $ ( 99,624 ) $ 3,866,918
+Added: Net income — $ — $ — $ — $ 87,091 $ — $ 87,091
+Added: Other comprehensive loss — — — — — ( 4,044 ) ( 4,044 )
+Added: Comprehensive income 83,047
+Added: Cash dividends ($ 0.24 per share)
+Added: — — — — ( 22,210 ) — ( 22,210 )
+Added: Repurchase of shares in connection with stock repurchase program ( 1,533,708 ) — ( 60,532 ) — — — ( 60,532 )
+Added: Issuance of common stock for stock-based compensation awards, net of forfeitures 55,609 — 1,965 ( 2,194 ) — — ( 229 )
+Added: Stock-based compensation expense — — — 4,384 — — 4,384
+Added: Balance at June 30, 2026 91,403,230 $ 488,612 $ ( 232,402 ) $ 2,390,839 $ 1,327,997 $ ( 103,668 ) $ 3,871,378
Common Stock Treasury Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Total
−Removed: Three Months Ended March 31, 2025 Shares Amount
+Added: Six Months Ended June 30, 2025 Shares Amount
Balance at January 1, 2025 63,565,690 $ 332,421 $ ( 97,196 ) $ 1,491,847 $ 1,093,854 $ ( 142,608 ) $ 2,678,318
7 unchanged sentences
Balance at March 31, 2025 63,739,467 $ 332,421 $ ( 91,646 ) $ 1,486,849 $ 1,121,102 $ ( 121,621 ) $ 2,727,105
+Added: Net income — $ — $ — $ — $ 1,018 $ — $ 1,018
+Added: Other comprehensive income — — — — — 7,580 7,580
+Added: Comprehensive income 8,598
+Added: Cash dividends ($ 0.22 per share)
+Added: — — — — ( 21,155 ) — ( 21,155 )
+Added: Common stock issued in connection with an acquisition 31,238,172 156,191 — 903,720 — — 1,059,911
+Added: Issuance of common stock for stock-based compensation awards 41,672 — 1,398 ( 1,307 ) — — 91
+Added: Stock-based compensation expense — — — 4,304 — — 4,304
+Added: Balance at June 30, 2025 95,019,311 $ 488,612 $ ( 90,248 ) $ 2,393,566 $ 1,100,965 $ ( 114,041 ) $ 3,778,854
See Notes to Consolidated Financial Statements.
2 unchanged sentences
(In Thousands)
−Removed: Three Months Ended March 31,
+Added: Six Months Ended June 30,
Operating activities
3 unchanged sentences
Depreciation, amortization and accretion 4,695 11,789
−Removed: Deferred income tax expense 6,827 954
+Added: Deferred income tax expense (benefit) 5,866 ( 608 )
+Added: Gain on sale of mortgage servicing rights — ( 1,467 )
Funding of mortgage loans held for sale ( 752,952 ) ( 794,785 )
5 unchanged sentences
Net change in operating leases 2,953 3,141
−Removed: (Decrease) in other assets ( 25,228 ) ( 8,613 )
+Added: (Increase) decrease in other assets ( 1,370 ) 7,533
Decrease in other liabilities ( 41,670 ) ( 25,001 )
2 unchanged sentences
Purchases of securities available for sale ( 541,398 ) ( 946,095 )
+Added: Proceeds from sales of securities available for sale — 686,485
Proceeds from call/maturities of securities available for sale 238,435 113,025
Proceeds from call/maturities of securities held to maturity 49,562 52,352
−Removed: Net decrease (increase) in loans 79,767 ( 171,186 )
+Added: Proceeds from sale of mortgage servicing rights — 9,353
+Added: Net increase in loans ( 81,252 ) ( 480,005 )
Purchases of premises and equipment ( 12,350 ) ( 14,996 )
4 unchanged sentences
Purchases of FRB stock ( 91,303 ) —
+Added: Proceeds from redemption of FRB stock 233 —
Proceeds from sales of other assets 11,292 11,778
+Added: Net cash (paid) received in acquisition of businesses ( 67,612 ) 261,483
Other, net 5,603 1,855
3 unchanged sentences
Net decrease in short-term borrowings ( 240,549 ) ( 919 )
+Added: Proceeds from the issuance of long-term debt, net of issuance costs 295,854 —
Cash paid for dividends ( 43,844 ) ( 35,425 )
1 unchanged sentence
Net cash provided by financing activities 103,105 519,892
−Removed: Net increase (decrease) in cash and cash equivalents 146,262 ( 693 )
+Added: Net (decrease) increase in cash and cash equivalents ( 189,515 ) 286,580
Cash and cash equivalents at beginning of period 1,070,718 1,092,032
Cash and cash equivalents at end of period $ 881,203 $ 1,378,612
+Added: Six Months Ended June 30,
Supplemental disclosures
3 unchanged sentences
Transfers of loans to other real estate owned $ 12,935 $ 4,281
+Added: Common stock issued in acquisition of businesses $ — $ 1,059,911
Recognition of operating right-of-use assets and liabilities $ 4,702 $ 12,251
+Added: Contingent consideration and holdbacks recognized in acquisition of business $ 8,741 $ —
See Notes to Consolidated Financial Statements.
10 unchanged sentences
In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the results for the interim periods presented have been included.
−Removed: For further information regarding the Company’s significant accounting policies, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”).
+Added: For further information regarding the Company’s significant accounting policies, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on March 2, 2026.
Use of Estimates :
2 unchanged sentences
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.
+Added: Loans acquired in a business combination :
+Added: Loans acquired in a business combination are recognized on the acquisition date at their purchase price plus an allowance for expected credit losses (“ACL”) established at acquisition.
+Added: The ACL recognized at acquisition is recorded through a gross-up that increases the amortized cost basis of the asset with no effect on net income at acquisition.
+Added: The sum of the loan’s purchase price and the ACL gross-up becomes the loan’s initial amortized cost basis.
+Added: The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium.
+Added: Any noncredit discount is accreted into interest income using the effective interest method over the remaining contractual life of the loan, adjusted for estimated prepayments.
Impact of Recently-Issued Accounting Standards and Pronouncements :
2 unchanged sentences
ASU 2024-03 will be effective January 1, 2027 and is not expected to have a significant impact on the Company’s financial statements.
−Removed: In November 2025, FASB issued ASU 2025-08, “Financial Instruments - Credit Losses (Topic 326):
−Removed: Purchased Loans” (“ASU 2025-08”), which amends the guidance on accounting for purchased loans under the current expected credit losses model.
+Added: On April 1, 2026, the Company adopted ASU 2025-08, “Financial Instruments - Credit Losses (Topic 326):
+Added: Purchased Loans” (“ASU 2025-08”), which amends the guidance on accounting for purchased loans under the current expected credit losses model (“CECL”).
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.
−Removed: The standard is intended to improve consistency in practice and reduce complexity in applying the CECL model to purchased loan portfolios.
−Removed: ASU 2025-08 will be effective January 1, 2027, and shall be applied prospectively.
−Removed: 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.
−Removed: The actual impact will depend on the volume and characteristics of loan portfolios purchased after the effective date.
+Added: ASU 2025-08 was applied to the business combination that occurred this quarter, which is discussed in Note 2, “Mergers and Acquisitions,” below.
In November 2025, FASB issued ASU 2025-09, “Derivatives and Hedging (Topic 815):
11 unchanged sentences
Before the merger, The First operated 116 banking locations throughout Louisiana, Mississippi, Alabama, Georgia and Florida.
−Removed: No transaction costs were incurred during the three months ended March 31, 2026.
−Removed: The Company incurred transaction costs of $ 791 during the three months ended March 31, 2025.
+Added: No transaction costs were incurred during the three or six months ended June 30, 2026.
+Added: The Company incurred transaction costs of $ 20,479 and $ 21,270 during the three and six months ended June 30, 2025, respectively.
These transaction costs are reported in the line item “Merger and conversion related expenses” in the Consolidated Statements of Income.
1 unchanged sentence
The Company recorded approximately $ 584,499 in intangible assets, which consisted of goodwill of $ 419,023 , a core deposit intangible of $ 159,610 and a customer relationship intangible of $ 5,866 associated with Southwest Georgia Insurance Services, Inc.
−Removed: (“SGIS”), The First’s wholly-owned insurance subsidiary.
+Added: (“SGIS”), The First’s wholly-owned insurance agency subsidiary.
Goodwill resulted from a combination of revenue enhancements from expansion in existing markets and efficiencies resulting from operational synergies.
−Removed: As a result of the various measurement period adjustments identified during the first quarter of 2026, the estimated fair value of goodwill as of the acquisition date increased by $ 827 , from $ 418,196 to $ 419,023 .
The fair value of the core deposit intangible is being amortized over its estimated useful life, currently expected to be approximately 10 years.
13 unchanged sentences
The following table summarizes the fair value on April 1, 2025 of assets acquired and liabilities assumed on that date in connection with the merger with The First.
−Removed: Preliminary Fair Value of Net Assets Acquired at Date of Acquisition Measurement Period Adjustments Fair Value of Net Assets Acquired
+Added: Fair Value of Net Assets Acquired
Cash and cash equivalents $ 263,352
4 unchanged sentences
Other real estate owned 11,032
−Removed: Core deposit intangible 165,476 — 165,476
+Added: Other intangible assets 165,476
Other assets 175,627
5 unchanged sentences
Net identifiable assets acquired over liabilities assumed $ 633,667
−Removed: 418,196 827 419,023
Net assets acquired over liabilities assumed $ 1,052,690
12 unchanged sentences
The Company has determined it is impracticable to disclose stand-alone revenues and earnings for legacy The First since April 1, 2025 due to the merging of certain processes during the second quarter of 2025.
+Added: Acquisition of Factoring Business
+Added: Effective April 30, 2026, the Company, through Republic Business Credit, acquired a 100 % ownership interest in certain factoring assets and business processes from REV Capital.
+Added: The acquisition provided the Company with factoring receivables, customer relationships and a contractual workforce.
+Added: This business combination allows the Company to expand into the temporary staffing factoring industry.
+Added: The transaction was accounted for under the acquisition method, in which the assets acquired were recorded at fair value as of the acquisition date.
+Added: The fair value measurements are best estimates made by management, are dependent on certain
+Added: assumptions, including initial estimates of the fair value of the intangible assets, and are subject to adjustment for up to one year as additional information becomes available.
+Added: The purchase consideration allocation below is considered preliminary and is subject to revision.
+Added: The following tables provide a preliminary allocation of the purchase consideration to the identified assets and goodwill acquired at the acquisition date:
+Added: Purchase Consideration:
+Added: Cash consideration (1)
+Added: Contingent consideration 6,327
+Added: Total purchase consideration
+Added: Assets Acquired:
+Added: Factoring receivables (Net Funds Employed) $ 58,326
+Added: Allowance for credit losses ( 1,749 )
+Added: Accrued fees 905
+Added: Customer relationship intangible 6,200
+Added: Contract-based intangible 1,800
+Added: Total assets $ 65,482
+Added: Total identifiable assets acquired 65,482
+Added: Total assets acquired
+Added: (1) Includes holdback of $ 2,414 .
+Added: (2) The goodwill resulting from the acquisition has been assigned to the Community Banks operating segment.
+Added: The Company paid cash in the amount of $ 70,026 less certain holdbacks.
+Added: In addition, the Company is obligated to pay additional amounts over a two-year period to REV Capital based on the level of growth of the factoring receivables generated from the existing customer relationships and new customer generation from the contractual workforce (the “Contingent Consideration”).
+Added: The total undiscounted amount that the Company could pay under the Contingent Consideration arrangement is between $ 0 and $ 6,983 , plus an additional 5 % of the average factoring receivables if certain milestones are met.
+Added: The fair value of the Contingent Consideration, estimated using a scenario-based probability approach and discounted, was $ 6,327 as of April 30, 2026.
+Added: Accordingly, the total fair value of consideration paid, including Contingent Consideration, is $ 76,353 .
+Added: The factoring receivables are financial assets that have not experienced more-than-insignificant credit deterioration since origination.
+Added: Pursuant to ASU 2025-08, since the factoring receivables are purchased seasoned loans, the allowance for credit losses is being recorded using the gross-up method.
+Added: The factoring receivables, which have short maturities and floating interest rates indexed to benchmark market rates, are being recorded at their net funds employed, which is equal to the receivables acquired, less customer holdbacks.
+Added: The Company did not incur significant acquisition-related costs as part of this business combination.
+Added: The customer relationship intangible asset represents the value from future factored receivables expected to be generated from the acquired customer base.
+Added: The contract-based intangible asset represents the additional costs that the Company would incur if it were to acquire an at-market contract similar to a sales channel agreement acquired as part of this acquisition.
+Added: The customer relationship intangible is being amortized over its expected useful life of six years .
+Added: The contract-based intangible is being amortized over three years .
+Added: Fair value for the customer relationship was calculated using an income approach based on the multi-period excess earnings method.
+Added: Fair value for the contract-based intangible was calculated using an income approach based on the with-and-without method.
+Added: The goodwill is expected to be fully tax deductible and represents the expected synergies, benefits to our brand, and acquired know-how from the acquisition.
+Added: Given the nature of the assets acquired, lack of historical financial data for the acquired assets, and systems conversion, the Company has determined that it is impracticable to disclose pro forma financials or revenue and earnings since the date of acquisition.
Renasant Corporation
3 unchanged sentences
The amortized cost and fair value of securities available for sale were as follows as of the dates presented in the tables below.
−Removed: There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of March 31, 2026 or December 31, 2025.
−Removed: March 31, 2026
+Added: There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of June 30, 2026 or December 31, 2025.
+Added: June 30, 2026
Obligations of states and political subdivisions $ 274,280 $ 7,684 $ ( 3,740 ) $ 278,224
20 unchanged sentences
The amortized cost and fair value of securities held to maturity were as follows as of the dates presented:
−Removed: March 31, 2026
+Added: June 30, 2026
Obligations of states and political subdivisions $ 277,221 $ 17 $ ( 29,086 ) $ 248,152
21 unchanged sentences
Held-to-maturity securities, net of allowance for credit losses $ 1,030,073
−Removed: No securities were sold during the first quarter of 2026 or 2025.
−Removed: At March 31, 2026 and December 31, 2025, securities with a carrying value of $ 1,716,468 and $ 1,732,787 , respectively, were pledged to secure government, public and trust deposits.
−Removed: Securities with a carrying value of $ 8,896 and $ 21,377 were pledged as collateral for short-term borrowings and derivative instruments, respectively, at March 31, 2026.
+Added: No securities were sold during the three or six months ended June 30, 2026.
+Added: Securities sold during the three and six months ended June 30, 2025 are presented in the tables below.
+Added: 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.
+Added: Shortly after the merger, certain securities from this portfolio were sold at carrying value, resulting in no gain or loss on the sale;
+Added: no other securities were sold during the first six months of 2025.
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: Carrying Value Net Proceeds Gain/(Loss)
+Added: Three months ended June 30, 2025
+Added: Obligations of other U.S.
+Added: Government agencies and corporations $ 34,394 $ 34,394 $ —
+Added: Obligations of states and political subdivisions 327,509 327,509 —
+Added: Residential mortgage backed securities:
+Added: Agency mortgage-backed securities 275,910 275,910 —
+Added: Collateralized mortgage obligations 2,437 2,437 —
+Added: Commercial mortgage-backed securities:
+Added: Agency mortgage-backed securities 6,541 6,541 —
+Added: Collateralized mortgage obligations 6,480 6,480 —
+Added: Other debt securities 33,214 33,214 —
+Added: $ 686,485 $ 686,485 $ —
+Added: Six months ended June 30, 2025
+Added: Obligations of other U.S.
+Added: Government agencies and corporations $ 34,394 $ 34,394 $ —
+Added: Obligations of states and political subdivisions 327,509 327,509 —
+Added: Residential mortgage-backed securities:
+Added: Agency mortgage-backed securities 275,910 275,910 —
+Added: Collateralized mortgage obligations 2,437 2,437 —
+Added: Commercial mortgage-backed securities:
+Added: Agency mortgage-backed securities 6,541 6,541 —
+Added: Collateralized mortgage obligations 6,480 6,480 —
+Added: Other debt securities 33,214 33,214 —
+Added: $ 686,485 $ 686,485 $ —
+Added: At June 30, 2026 and December 31, 2025, securities with a carrying value of $ 1,612,249 and $ 1,732,787 , respectively, were pledged to secure government, public and trust deposits.
+Added: Securities with a carrying value of $ 8,762 and $ 17,854 were pledged as collateral for short-term borrowings and derivative instruments, respectively, at June 30, 2026.
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.
−Removed: The amortized cost and fair value of securities at March 31, 2026 by contractual maturity are shown below.
+Added: The amortized cost and fair value of securities at June 30, 2026 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.
15 unchanged sentences
$ 983,064 $ 902,853 $ 2,942,166 $ 2,842,424
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: The following tables present the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded as of the dates presented:
+Added: The following tables present by age the fair value and gross unrealized losses for each investment category for which an allowance for credit losses has not been recorded as of the dates presented:
Less than 12 Months 12 Months or More Total
5 unchanged sentences
Available for Sale:
−Removed: March 31, 2026
+Added: June 30, 2026
Obligations of states and political subdivisions 46 $ 57,548 $ ( 1,893 ) 11 $ 15,919 $ ( 1,847 ) 57 $ 73,467 $ ( 3,740 )
26 unchanged sentences
Held to Maturity:
−Removed: March 31, 2026
+Added: June 30, 2026
Obligations of states and political subdivisions 5 $ 6,301 $ ( 400 ) 118 $ 237,908 $ ( 28,686 ) 123 $ 244,209 $ ( 29,086 )
19 unchanged sentences
If the Company intends to sell the security or it is more likely than not that it will be required to sell before recovery, the entire unrealized loss is recorded as a loss within noninterest income in the Consolidated Statements of Income along with a corresponding adjustment to the amortized cost basis of the security.
−Removed: 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.
+Added: 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 whether any of the unrealized loss is related to a potential credit loss.
The amount related to credit loss, if any, is recognized in earnings as a provision for credit loss and a corresponding allowance for credit losses is established;
2 unchanged sentences
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 tax.
−Removed: As of March 31, 2026, the Company did not intend to sell any of the securities in an unrealized loss position, and it is not more likely than not that the Company will be required to sell any such security prior to the recovery of its amortized cost basis, which may be maturity.
+Added: As of June 30, 2026, the Company did not intend to sell any of the securities in an unrealized loss position, and it is not more likely than not that the Company will be required to sell any such security prior to the recovery of its amortized cost basis, which may be maturity.
Furthermore, approximately 88 % of available for sale securities have the explicit backing of the U.S.
government or a guarantee from a U.S.
−Removed: government sponsored enterprise that has perceived credit risk the same as the U.S.
+Added: government-sponsored enterprise that has the same perceived credit risk 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.
2 unchanged sentences
Notes to Consolidated Financial Statements (Unaudited)
−Removed: securities, current market conditions, the financial condition of the underlying issuer, current credit ratings, ratings changes and outlook, explicit and implicit guarantees, or insurance programs.
−Removed: Based upon its review of these factors as of March 31, 2026, the Company determined that all such losses resulted from factors not deemed credit-related.
+Added: securities, current market conditions, the financial condition of the underlying issuer, current credit ratings, ratings changes and outlook, explicit and implicit guarantees, and insurance programs.
+Added: Based upon its review of these factors as of June 30, 2026, the Company determined that all such losses resulted from factors not deemed credit-related.
As a result, no credit-related impairment was recognized in current earnings, and all unrealized losses for available for sale securities were recorded in other comprehensive income (loss).
−Removed: See Note 12, “Other Comprehensive Income” for more information on the Company’s unrealized losses on securities.
−Removed: The allowance for credit losses on held to maturity securities was $ 32 at each of March 31, 2026 and December 31, 2025.
+Added: See Note 12, “Other Comprehensive Income (Loss)” for more information on the Company’s unrealized losses on securities.
+Added: The allowance for credit losses on held to maturity securities was $ 32 at each of June 30, 2026 and December 31, 2025.
The Company monitors the credit quality of debt securities held to maturity using bond investment grades assigned by nationally recognized statistical ratings agencies.
Updated investment grades are obtained as they become available from agencies.
−Removed: As of March 31, 2026, all of the debt securities held to maturity were rated A or higher by the ratings agencies.
+Added: As of June 30, 2026, all of the debt securities held to maturity were rated A or higher by the ratings agencies.
Note 4 – Loans
20 unchanged sentences
Loans, net of unearned income $ 19,196,172 $ 19,047,039
−Removed: The Company had unearned income of $ 5,940 and $ 5,152 , unamortized net deferred (fees)/costs of $( 1,743 ) and $( 1,900 ) and unamortized purchase accounting discounts, net of premiums, of $ 146,156 and $ 161,591 at March 31, 2026 and December 31, 2025, respectively.
−Removed: The following tables provide an aging of past due accruing and nonaccruing loans, segregated by class, as of the dates presented:
+Added: The Company had unearned income of $ 5,491 and $ 5,152 , unamortized net deferred fees of $ 4,062 and $ 1,900 and unamortized purchase accounting discounts, net of premiums, of $ 133,760 and $ 161,591 at June 30, 2026 and December 31, 2025, respectively.
Renasant Corporation
Notes to Consolidated Financial Statements (Unaudited)
+Added: The following tables provide an aging of past due accruing loans and the total of nonaccruing loans, segregated by class, as of the dates presented:
Accruing Loans
2 unchanged sentences
Loans Nonaccruing Loans Total
−Removed: March 31, 2026
+Added: June 30, 2026
Commercial and industrial $ 2,995 $ 4 $ 3,013,849 $ 3,016,848 $ 46,221 $ 3,063,069
37 unchanged sentences
Loans, net of unearned income $ 89,162 $ 288 $ 18,781,859 $ 18,871,309 $ 175,730 $ 19,047,039
−Removed: Interest income recognized on nonaccrual loans for the three months ended March 31, 2026 and 2025 was immaterial.
−Removed: Certain Modifications to Borrowers Experiencing Financial Difficulty
−Removed: The following tables present the amortized cost basis of loans that were experiencing financial difficulty and modified during the three months ended March 31, 2026 and 2025, respectively, by class of financing receivable and by type of modification.
+Added: Interest income recognized on nonaccrual loans for the six months ended June 30, 2026 and 2025 was immaterial.
Renasant Corporation
Notes to Consolidated Financial Statements (Unaudited)
−Removed: Three Months Ended March 31, 2026
+Added: Certain Modifications to Borrowers Experiencing Financial Difficulty
+Added: The following tables present the amortized cost basis of loans that were experiencing financial difficulty and modified during the six months ended June 30, 2026 and 2025, respectively, by class of financing receivable and by type of modification.
+Added: Three Months Ended June 30, 2026
Interest Rate Reduction Term Extension Payment Delay Term Extension and Payment Delay Total % Total Loans by Class
16 unchanged sentences
Loans, net of unearned income $ — $ — $ 2,514 $ 2,069 $ 4,583 0.02 %
−Removed: Three Months Ended March 31, 2025
−Removed: Term Extension Interest Rate Reduction, Term Extension and Payment Delay Total % Total Loans by Class
+Added: Six Months Ended June 30, 2026
+Added: Interest Rate Reduction Term Extension Payment Delay Term Extension and Payment Delay Total % Total Loans by Class
Commercial and industrial $ — $ 50 $ 1,578 $ 850 $ 2,478 0.08 %
15 unchanged sentences
Loans, net of unearned income $ 140 $ 204 $ 14,723 $ 3,079 $ 18,146 0.09 %
−Removed: The following tables present the weighted average financial effect of loan modifications by class of financing receivable for the periods presented.
Renasant Corporation
Notes to Consolidated Financial Statements (Unaudited)
−Removed: Three months ended March 31, 2026
+Added: Three Months Ended June 30, 2025
+Added: Term Extension Payment Delay Term Extension and Payment Delay Total % Total Loans by Class
+Added: Commercial and industrial $ — $ 3 $ — $ 3 — %
+Added: Construction and land development
+Added: Residential — — 235 235 0.01 %
+Added: Other — — — — — %
+Added: Total construction and land development — — 235 235 0.01 %
+Added: Real estate – 1-4 family mortgage:
+Added: First lien — — — — — %
+Added: Junior lien — — — — — %
+Added: Home equity — 3 — 3 — %
+Added: Total real estate – 1-4 family mortgage — 3 — 3 — %
+Added: Commercial real estate - owner occupied — — — — %
+Added: Commercial real estate - non-owner occupied
+Added: Multi family — — — — — %
+Added: Other — — — — — %
+Added: Total commercial real estate - non-owner occupied — — — — — %
+Added: Consumer 81 6 1 88 — %
+Added: Loans, net of unearned income $ 81 $ 12 $ 236 $ 329 — %
+Added: Six Months Ended June 30, 2025
+Added: Term Extension Payment Delay Term Extension and Payment Delay Interest Rate Reduction, Term Extension and Payment Delay Total % Total Loans by Class
+Added: Commercial and industrial $ — $ 3 $ — $ — $ 3 — %
+Added: Construction and land development
+Added: Residential — — 235 — 235 0.01 %
+Added: Other — — — — — — %
+Added: Total construction and land development — — 235 — 235 0.01 %
+Added: Real estate – 1-4 family mortgage:
+Added: First lien — — — — — — %
+Added: Junior lien — — — — — — %
+Added: Home equity — 3 — — 3 — %
+Added: Total real estate – 1-4 family mortgage — 3 — — 3 — %
+Added: Commercial real estate - owner occupied — — — — — — %
+Added: Commercial real estate - non-owner occupied
+Added: Multi family — — — — — — %
+Added: Other 2,119 — — — 2,119 0.07 %
+Added: Total commercial real estate - non-owner occupied 2,119 — — — 2,119 0.07 %
+Added: Consumer 81 6 1 2 90 — %
+Added: Loans, net of unearned income $ 2,200 $ 12 $ 236 $ 2 $ 2,450 0.01 %
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: The following tables present the weighted average financial effect of loan modifications by class of financing receivable for the periods presented.
+Added: Three Months Ended June 30, 2026
Loan Type Financial Effect
+Added: Payment Delay
+Added: Commercial and industrial Delayed the payment 10 months
+Added: Commercial real estate - owner occupied Delayed the payment 6 months
+Added: Combination - Term Extension and Payment Delay
+Added: Real estate – 1-4 family mortgage - First lien Extended the term and delayed the payment 12 months
+Added: Commercial real estate - non-owner occupied - Multi-Family Extended the term and delayed the payment 7 months
+Added: Six Months Ended June 30, 2026
+Added: Loan Type Financial Effect
Interest Rate Reduction
3 unchanged sentences
Commercial and industrial Extended the term 7 months
−Removed: Construction and land development - Other Extended the term 12 months
Real estate – 1-4 family mortgage - First lien Extended the term 34 months
5 unchanged sentences
Commercial real estate - non-owner occupied - Other Delayed the payment 10 months
−Removed: Consumer Delayed the payment 24 months
Combination - Term Extension and Payment Delay
1 unchanged sentence
Real estate – 1-4 family mortgage - First lien Extended the term and delayed the payment 12 months
+Added: Commercial real estate - non-owner occupied -Multi-Family Extended the term and delayed the payment 7 months
Commercial real estate - non-owner occupied - Other Extended the term and delayed the payment 8 months
Consumer Extended the term and delayed the payment 39 months
−Removed: Three months ended March 31, 2025
+Added: Three Months Ended June 30, 2025
Loan Type Financial Effect
Term Extension
+Added: Consumer Extended the term 124 months
+Added: Payment Delay
+Added: Commercial and industrial Delayed the payment 7 months
+Added: Real estate – 1-4 family mortgage - Home equity Delayed the payment 39 months
+Added: Consumer Delayed the payment 23 months
+Added: Combination - Term Extension and Payment Delay
+Added: Construction and land development - Residential Extended the term and delayed the payment 35 months
+Added: Consumer Extended the term and delayed the payment 60 months
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: Six Months Ended June 30, 2025
+Added: Loan Type Financial Effect
+Added: Term Extension
Commercial real estate - non-owner occupied - Other Extended the term 12 months
+Added: Consumer Extended the term 124 months
+Added: Payment Delay
+Added: Commercial and industrial Delayed the payment 7 months
+Added: Real estate – 1-4 family mortgage - Home equity Delayed the payment 39 months
+Added: Consumer Delayed the payment 23 months
+Added: Combination - Term Extension and Payment Delay
+Added: Construction and land development - Residential Extended the term and delayed the payment 35 months
+Added: Consumer Extended the term and delayed the payment 60 months
Combination - Interest Rate Reduction, Term Extension and Payment Delay
Consumer Reduced the interest rate 425 basis points and extended the term and delayed the payment 49 months
−Removed: Unused commitments relating to modified loans totaled $ 24 at March 31, 2026.
−Removed: There were no unused commitments relating to modified loans at March 31, 2025.
−Removed: There were no loan modifications in the three months ended March 31, 2026 and 2025 for which the accrual or past due status deteriorated since the quarter of modification.
+Added: Unused commitments relating to modified loans totaled $ 490 at June 30, 2026.
+Added: There were no unused commitments relating to modified loans at June 30, 2025.
+Added: Consumer loans totaling $ 16 for which the term was extended and payment delayed during the six months ended June 30, 2026 experienced a deterioration in past due or accrual status.
+Added: There were no loan modifications in the six months ended June 30, 2025 for which the accrual or past due status deteriorated since the quarter of modification.
Loans Pledged
−Removed: 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.
−Removed: In addition, the Company pledged $ 706,245 and $ 681,719 of its non-real estate loan portfolio to the Federal Reserve as collateral at the Discount Window at March 31, 2026 and December 31, 2025, respectively.
+Added: The Federal Home Loan Bank of Dallas (“FHLB”) maintains a blanket lien on the Company’s loan portfolio to be pledged as collateral for various FHLB products.
+Added: In addition, the Company pledged $ 1,067,639 and $ 681,719 of its non-real estate loan portfolio to the Federal Reserve as collateral at the Discount Window at June 30, 2026 and December 31, 2025, respectively.
Credit Quality
−Removed: 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:
+Added: The following tables present the internal risk-rating grades of the Company’s loan portfolio by year of origination or renewal as of the dates presented:
Term Loans Amortized Cost Basis by Origination Year
2026 2025 2024 2023 2022 Prior Revolving Loans Revolving Loans Converted to Term Total
−Removed: March 31, 2026
+Added: June 30, 2026
Commercial and industrial $ 304,499 $ 595,986 $ 233,644 $ 157,671 $ 223,561 $ 192,992 $ 1,315,153 $ 23,852 $ 3,047,358
Pass 302,328 564,012 229,615 153,356 217,331 188,653 1,263,142 20,438 2,938,875
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Special mention 1,049 15,090 2,195 689 140 1,777 28,834 — 49,774
9 unchanged sentences
Pass 325,590 767,956 239,585 65,546 50,310 23,743 60,434 1,576 1,534,740
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Special mention 360 6,360 2,894 12,550 34 — — — 22,198
28 unchanged sentences
Current period gross charge-offs — — — — — 177 — — 177
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Other $ 489,869 $ 1,218,388 $ 689,802 $ 491,971 $ 1,064,922 $ 915,933 $ 89,520 $ 2,024 $ 4,962,429
8 unchanged sentences
Current period gross charge-offs — — — — — — — — —
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Total loans subject to risk rating $ 1,853,207 $ 3,807,014 $ 1,948,637 $ 1,421,508 $ 2,345,879 $ 2,249,393 $ 1,787,166 $ 29,169 $ 15,441,973
27 unchanged sentences
Classified 1,100 2,192 760 2,873 1,460 2,145 — — 10,530
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Current period gross charge-offs — — 34 149 64 78 — — 325
9 unchanged sentences
Current period gross charge-offs — — — — 92 93 — — 185
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Commercial real estate - owner occupied $ 501,919 $ 602,513 $ 453,290 $ 541,607 $ 465,069 $ 558,280 $ 211,986 $ — $ 3,334,664
25 unchanged sentences
The following tables present the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Term Loans Amortized Cost Basis by Origination Year
2026 2025 2024 2023 2022 Prior Revolving Loans Revolving Loans Converted to Term Total
−Removed: March 31, 2026
+Added: June 30, 2026
Commercial and industrial $ 15,711 $ — $ — $ — $ — $ — $ — $ — $ 15,711
6 unchanged sentences
Non-Performing Loans — 3 — — — — — — 3
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Current period gross charge-offs — — — — — — — — —
25 unchanged sentences
Current period gross charge-offs — — — — — — — — —
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Other $ — $ — $ — $ — $ — $ — $ — $ — $ —
9 unchanged sentences
Non-Performing Loans — 1,281 1,303 6,643 21,164 27,946 237 1,602 60,176
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Current period gross charge-offs — 194 68 208 124 264 37 349 1,244
24 unchanged sentences
Current period gross charge-offs — 53 — — — 7 — — 60
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Home equity $ — $ 116 $ 363 $ 714 $ 218 $ 2,260 $ 609,124 $ 15,049 $ 627,844
9 unchanged sentences
Performing Loans — — — — — — — — —
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Non-Performing Loans — — — — — — — — —
12 unchanged sentences
Current period gross charge-offs 53 341 187 132 198 1,110 19 — 2,040
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Note 5 – Allowance for Credit Losses
1 unchanged sentence
Allowance for Credit Losses on Loans
−Removed: As of March 31, 2026 and December 31, 2025, the Company had accrued interest receivable for loans of $ 68,886 and $ 54,395 , respectively, which is recorded in the “Other assets” line item on the Consolidated Balance Sheets.
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
+Added: As of June 30, 2026 and December 31, 2025, the Company had accrued interest receivable for loans of $ 67,986 and $ 54,395 , respectively, which is recorded in the “Other assets” line item on the Consolidated Balance Sheets.
The following tables provide a roll-forward of the allowance for credit losses by loan category and nonaccrual loans with no allowance for credit losses for the periods presented:
1 unchanged sentence
Mortgage Commercial real estate - owner occupied Commercial real estate - non owner occupied Consumer
−Removed: Three Months Ended March 31, 2026
+Added: Three Months Ended June 30, 2026
Allowance for credit losses:
Beginning balance $ 65,814 $ 36,969 $ 66,653 $ 37,441 $ 84,380 $ 4,605 $ 295,862
+Added: Initial allowance for credit losses on loans acquired during the period
+Added: 1,750 — — — — — 1,750
Charge-offs ( 2,223 ) — ( 402 ) ( 227 ) ( 176 ) ( 319 ) ( 3,347 )
Recoveries 382 2 133 7 18 35 577
−Removed: Net charge-offs ( 920 ) ( 1 ) ( 499 ) ( 460 ) ( 135 ) ( 302 ) ( 2,317 )
+Added: Net (charge-offs) recoveries ( 1,841 ) 2 ( 269 ) ( 220 ) ( 158 ) ( 284 ) ( 2,770 )
Provision for (recovery of) credit losses on loans 1,634 2,914 453 ( 1,274 ) ( 2,463 ) ( 98 ) 1,166
Ending balance $ 67,357 $ 39,885 $ 66,837 $ 35,947 $ 81,759 $ 4,223 $ 296,008
+Added: Six Months Ended June 30, 2026
+Added: Allowance for credit losses:
+Added: Beginning balance $ 57,831 $ 31,359 $ 61,249 $ 38,961 $ 99,605 $ 4,950 $ 293,955
+Added: Initial allowance for credit losses on loans acquired during the period
+Added: 1,750 — — — — — 1,750
+Added: Charge-offs ( 3,293 ) ( 1 ) ( 927 ) ( 1,363 ) ( 374 ) ( 649 ) ( 6,607 )
+Added: Recoveries 532 2 159 683 81 63 1,520
+Added: Net (charge-offs) recoveries ( 2,761 ) 1 ( 768 ) ( 680 ) ( 293 ) ( 586 ) ( 5,087 )
+Added: Provision for (recovery of) credit losses on loans 10,537 8,525 6,356 ( 2,334 ) ( 17,553 ) ( 141 ) 5,390
+Added: Ending balance $ 67,357 $ 39,885 $ 66,837 $ 35,947 $ 81,759 $ 4,223 $ 296,008
Nonaccruing loans with no allowance for credit losses $ 22,859 $ 4,032 $ 2,312 $ 4,446 $ 28,062 $ — $ 61,711
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Commercial and industrial Construction and land development Real Estate -
Mortgage Commercial real estate - owner occupied Commercial real estate - non owner occupied Consumer
−Removed: Three Months Ended March 31, 2025
+Added: Three Months Ended June 30, 2025
Allowance for credit losses:
Beginning balance $ 41,884 $ 20,845 $ 48,101 $ 17,826 $ 68,781 $ 6,494 $ 203,931
+Added: Initial impact of purchased credit deteriorated loans acquired during the period 7,140 2,185 203 4,059 9,904 2 23,493
Charge-offs ( 8,217 ) ( 105 ) ( 319 ) — ( 3,944 ) ( 394 ) ( 12,979 )
Recoveries 631 — 37 56 60 141 925
−Removed: Net recoveries (charge-offs) 873 — ( 276 ) ( 457 ) 2 ( 17 ) 125
−Removed: (Recovery of) provision for credit losses on loans ( 853 ) 1,645 2,879 1,290 ( 2,885 ) ( 26 ) 2,050
+Added: Net (charge-offs) recoveries ( 7,586 ) ( 105 ) ( 282 ) 56 ( 3,884 ) ( 253 ) ( 12,054 )
+Added: Provision for (recovery of) credit losses on loans 19,972 7,369 13,150 9,186 25,866 ( 143 ) 75,400
Ending balance $ 61,410 $ 30,294 $ 61,172 $ 31,127 $ 100,667 $ 6,100 $ 290,770
+Added: Six Months Ended June 30, 2025
+Added: Allowance for credit losses:
+Added: Beginning balance $ 41,864 $ 19,200 $ 45,498 $ 16,993 $ 71,664 $ 6,537 $ 201,756
+Added: Initial impact of purchased credit deteriorated loans acquired during the period 7,140 2,185 203 4,059 9,904 2 23,493
+Added: Charge-offs ( 8,310 ) ( 106 ) ( 628 ) — ( 4,405 ) ( 659 ) ( 14,108 )
+Added: Recoveries 1,597 1 70 58 64 389 2,179
+Added: Net (charge-offs) recoveries ( 6,713 ) ( 105 ) ( 558 ) 58 ( 4,341 ) ( 270 ) ( 11,929 )
+Added: Provision for (recovery of) credit losses on loans 19,119 9,014 16,029 10,017 23,440 ( 169 ) 77,450
+Added: Ending balance $ 61,410 $ 30,294 $ 61,172 $ 31,127 $ 100,667 $ 6,100 $ 290,770
Nonaccruing loans with no allowance for credit losses $ 899 $ 2,331 $ 4,275 $ 4,700 $ 9,663 $ — $ 21,868
−Removed: The Company recorded a provision for credit losses on loans of $ 4,224 during the first quarter of 2026, as compared to a provision for credit losses on loans of $ 2,050 recorded in the first quarter of 2025.
−Removed: The increase in the allowance for credit losses in the first quarter of 2026 was primarily driven by an increase in non-performing loans, changes in the macroeconomic environment and qualitative factors.
−Removed: These factors were partially moderated by the reduction in the loan portfolio.
−Removed: The provision increased in select residential related pools due to the risk of potential stagflation and value declines.
−Removed: The Company’s allowance for credit losses model considers economic projections, primarily the national unemployment rate and GDP, over a reasonable and supportable period of two years , historical loss data, and environmental factors.
+Added: The Company recorded a provision for credit losses on loans of $ 1,166 and an initial provision of $ 1,750 for credit losses on loans associated with the portfolio acquisition during the second quarter of 2026, as compared to a provision for credit losses on loans of $ 75,400 recorded in the second quarter of 2025, which included the Day 1 provision associated with the merger with The First.
+Added: The allowance for credit losses in the second quarter of 2026 remained adequate and relatively stable as compared to the prior quarter’s ACL balance.
+Added: The increase attributable to loan growth, including both acquisition-related and organic growth, as well as changes in qualitative factors, was moderated by improvements in asset credit quality and the resolution of non-performing loans (individually reviewed loans).
+Added: The Company’s allowance for credit losses model considers current economic 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/loss given default approach for most commercial mortgage related pools, while the average historical life-of-loan loss rate cohort approach is used for the remaining pools.
5 unchanged sentences
Collateral Type
−Removed: March 31, 2026 Real Estate Other Total ACL
+Added: June 30, 2026 Real Estate Other Total Allowance for Credit Losses
Commercial and industrial $ — $ 46,939 $ 46,939 $ 9,302
16 unchanged sentences
Collateral Type
−Removed: December 31, 2025 Real Estate Other Total ACL
+Added: December 31, 2025 Real Estate Other Total Allowance for Credit Losses
Commercial and industrial $ — $ 46,860 $ 46,860 $ 4,502
15 unchanged sentences
Loans, net of unearned income $ 85,585 $ 47,130 $ 132,715 $ 21,435
−Removed: The increase in collateral dependent loans since December 31, 2025 is primarily due to the migration of seven relationships totaling $ 40,534 , which was offset by the resolution or credit improvement of certain relationships of approximately $ 30,862 .
−Removed: Allowance for Credit Losses on Unfunded Loan Commitments
+Added: The decrease in collateral dependent loans and the allowance with respect thereto since December 31, 2025 is primarily due to a decrease in the number of loans requiring individual evaluation in the Construction and Land Development and Commercial Real Estate - Owner Occupied segments.
Renasant Corporation
Notes to Consolidated Financial Statements (Unaudited)
+Added: Allowance for Credit Losses on Unfunded Loan Commitments
The following table provides a roll-forward of the allowance for credit losses on unfunded loan commitments for the periods presented.
−Removed: Three months ended March 31, 2026 2025
+Added: Three months ended June 30, 2026 2025
Allowance for credit losses on unfunded loan commitments:
2 unchanged sentences
Ending balance $ 36,316 $ 23,565
−Removed: The provision for credit losses on unfunded commitments in the first quarter of 2026 was primarily driven by growth in the balance of unfunded loan commitments in the commercial and residential construction related pools.
+Added: Six Months Ended June 30, 2026 2025
+Added: Allowance for credit losses on unfunded loan commitments:
+Added: Beginning balance $ 29,827 $ 14,943
+Added: Provision for credit losses on unfunded loan commitments 6,489 8,622
+Added: Ending balance $ 36,316 $ 23,565
+Added: The provision for credit losses on unfunded commitments in the second quarter of 2026 was primarily driven by growth in the balance of unfunded loan commitments in the commercial and industrial pool and the construction and land development pool.
Note 6 – Goodwill and Other Intangible Assets
(In Thousands)
−Removed: The carrying amounts of goodwill by operating segments as of March 31, 2026 and December 31, 2025 are set forth in the table below.
+Added: The carrying amounts of goodwill by operating segments for the six months ended June 30, 2026 are set forth in the table below.
Community Banks Total
−Removed: Balance at December 31, 2025 $ 1,405,840 $ 1,405,840
−Removed: Additions to goodwill from The First merger 827 827
−Removed: Balance at March 31, 2026 $ 1,406,667 $ 1,406,667
+Added: Balance at January 1, 2026 $ 1,405,840 $ 1,405,840
+Added: Acquisition of factoring business 10,871 $ 10,871
+Added: Other 827 827
+Added: Balance at June 30, 2026 $ 1,417,538 $ 1,417,538
The following table provides a summary of finite-lived intangible assets as of the dates presented:
2 unchanged sentences
Amortization Net Carrying
−Removed: March 31, 2026
−Removed: Core deposit intangibles $ 242,102 $ ( 105,930 ) $ 136,172
+Added: June 30, 2026
+Added: Core deposit intangible $ 242,102 $ ( 113,716 ) $ 128,386
Customer relationship intangible 13,870 ( 5,934 ) 7,936
+Added: Contract-based intangible 1,800 ( 100 ) 1,700
Total finite-lived intangible assets $ 257,772 $ ( 119,750 ) $ 138,022
December 31, 2025
−Removed: Core deposit intangibles $ 242,102 $ ( 97,936 ) $ 144,166
+Added: Core deposit intangible $ 242,102 $ ( 97,936 ) $ 144,166
Customer relationship intangible 7,670 ( 5,224 ) 2,446
Total finite-lived intangible assets $ 249,772 $ ( 103,160 ) $ 146,612
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Amortization expense for finite-lived intangible assets is presented in the table below.
−Removed: Three Months Ended
+Added: Three Months Ended Six Months Ended
+Added: June 30, June 30,
+Added: 2026 2025 2026 2025
Amortization expense for:
−Removed: Core deposit intangibles $ 7,994 $ 818
+Added: Core deposit intangible $ 7,786 $ 8,622 $ 15,780 $ 9,440
Customer relationship intangible 484 262 710 524
+Added: Contract-based intangible 100 — 100 —
Total intangible amortization $ 8,370 $ 8,884 $ 16,590 $ 9,964
+Added: The estimated amortization expense of finite-lived intangible assets for the five succeeding fiscal years is summarized as follows:
+Added: Core Deposit Intangible Customer Relationship Intangible Contract-Based Intangible Total
+Added: 2026 (July-December) $ 14,952 $ 1,183 $ 300 $ 16,435
+Added: 2027 27,441 2,030 600 30,071
+Added: 2028 23,337 1,664 600 25,601
+Added: 2029 18,335 1,290 200 19,825
+Added: 2030 15,169 883 — 16,052
+Added: Thereafter 29,152 886 — 30,038
+Added: Total $ 128,386 $ 7,936 $ 1,700 $ 138,022
Note 7 – Mortgage Servicing Rights
(In Thousands)
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: There was no valuation adjustment on MSRs during the three months ended March 31, 2026 or 2025.
+Added: There was no valuation adjustment on mortgage servicing rights (“MSRs”) during the three or six months ended June 30, 2026 or 2025.
Changes in the Company’s MSRs were as follows:
Balance at January 1 $ 65,271 $ 72,991
+Added: Sale of MSRs — ( 7,886 )
Additions 4,878 4,021
Amortization ( 4,333 ) ( 4,587 )
−Removed: Balance at March 31
+Added: Balance at June 30
$ 65,816 $ 64,539
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented:
−Removed: March 31, 2026 December 31, 2025
+Added: June 30, 2026 December 31, 2025
Unpaid principal balance $ 5,659,879 $ 5,648,033
9 unchanged sentences
The movement of mortgage interest rates has an inverse relationship with prepayment speeds and discount rates.
−Removed: The Company recorded servicing fees of $ 3,289 and $ 3,656 for the three months ended March 31, 2026 and 2025, respectively, all of which are included in “Mortgage banking income” in the Consolidated Statements of Income.
+Added: The Company recorded servicing fees of $ 3,071 and $ 3,001 for the three months ended June 30, 2026 and 2025, respectively, and $ 6,360 and $ 6,656 for the six months ended June 30, 2026 and 2025, respectively, all of which are included in “Mortgage banking income” in the Consolidated Statements of Income.
Note 8 - Employee Benefit and Deferred Compensation Plans
3 unchanged sentences
The Company awards performance-based restricted stock to executives and other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees.
−Removed: 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.
−Removed: The following table summarizes the changes in restricted stock as of and for the three months ended March 31, 2026:
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
+Added: 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 restricted stock of the Company, subject to the same terms and conditions as prior to the merger.
+Added: The following table summarizes the changes in restricted stock as of and for the six months ended June 30, 2026:
Performance-Based Restricted Stock Weighted Average Grant-Date Fair Value Time-Based Restricted Stock Weighted Average Grant-Date Fair Value
4 unchanged sentences
Nonvested at end of period 271,120 $ 34.88 1,107,912 $ 35.22
−Removed: Unrecognized stock-based compensation expense related to restricted stock totaled $ 26,731 at March 31, 2026.
−Removed: As of such date, the weighted average period over which the unrecognized expense is expected to be recognized was approximately 2.25 years.
−Removed: During the three months ended March 31, 2026, the Company reissued 162,733 shares from treasury in connection with awards of restricted stock.
−Removed: The Company recorded total stock-based compensation expense of $ 5,474 and $ 3,780 for the three months ended March 31, 2026 and 2025, respectively.
−Removed: There were no stock options granted or outstanding, nor compensation expense associated with options recorded, during the three months ended March 31, 2026 or 2025.
+Added: Unrecognized stock-based compensation expense related to restricted stock totaled $ 24,035 at June 30, 2026.
+Added: As of such date, the weighted average period over which the unrecognized expense is expected to be recognized was approximately two years .
+Added: During the six months ended June 30, 2026, the Company reissued 216,712 shares from treasury in connection with awards of restricted stock.
+Added: The Company recorded total stock-based compensation expense of $ 4,384 and $ 4,304 for the three months ended June 30, 2026 and 2025, respectively, and $ 9,858 and $ 8,084 for the six months ended June 30, 2026 and 2025, respectively.
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: There were no stock options granted or outstanding, and no compensation expense associated with options recorded, during the six months ended June 30, 2026 or 2025.
Note 9 – Derivative Instruments
8 unchanged sentences
The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:
−Removed: Balance Sheet March 31, 2026 December 31, 2025
+Added: Balance Sheet June 30, 2026 December 31, 2025
Location Notional Amount Fair Value Notional Amount Fair Value
9 unchanged sentences
Totals $ 1,908,245 $ 20,822 $ 1,985,932 $ 29,202
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:
−Removed: Three Months Ended March 31,
−Removed: Interest rate contracts:
−Removed: Included in interest income on loans $ 7,380 $ 2,889
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2026 2025 2026 2025
Interest rate lock commitments:
5 unchanged sentences
Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions.
−Removed: 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.
−Removed: The swap hedging strategy converts the variable interest rate on the forecasted borrowings to a fixed interest rate.
+Added: 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.
+Added: The swap hedging strategy converts the variable interest rate on the forecasted borrowings to a fixed
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: interest rate.
The collar hedging strategy limits the benefit to interest income when rates exceed the cap but protects interest income from interest rate fluctuations below the floor strike rate.
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
−Removed: Balance Sheet March 31, 2026 December 31, 2025
+Added: Balance Sheet June 30, 2026 December 31, 2025
Location Notional Amount Fair Value Notional Amount Fair Value
3 unchanged sentences
Total $ 30,000 $ 768 $ 580,000 $ 17,036
−Removed: The impact on other comprehensive income for the three months ended March 31, 2026 and 2025, is described in Note 12, “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.
+Added: Derivative liabilities:
+Added: Interest rate swaps Other Liabilities $ 100,000 $ 53 $ — $ —
+Added: Interest rate collars Other Liabilities 450,000 10 — —
+Added: Totals $ 550,000 $ 63 $ — $ —
+Added: The impact on other comprehensive income for the three months ended June 30, 2026 and 2025, is described in Note 12, “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.
Changes in fair value of cash flow hedges are, to the extent that the hedging relationship is effective, recorded as other comprehensive income and are subsequently recognized in earnings at the same time that the hedged item is recognized in earnings.
−Removed: The impact on other comprehensive income for the three months ended March 31, 2026 and 2025 is discussed in Note 12, “Other Comprehensive Income.”
+Added: The impact on other comprehensive income for the six months ended June 30, 2026 and 2025 is set forth in Note 12, “Other Comprehensive Income (Loss).”
Derivatives designated as fair value hedges
−Removed: 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.
−Removed: 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.
+Added: The Company enters into interest rate swap agreements to manage the fair value exposure on certain of the Company’s fixed-rate subordinated notes and fixed-rate available-for-sale securities.
+Added: The agreements convert a fixed rate of interest to a variable rate of interest based on SOFR by using “pay-variable, receive-fixed” or “pay-fixed, receive-variable” interest rate swaps for the subordinated notes and available-for-sale securities hedges, respectively.
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:
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: Balance Sheet March 31, 2026 December 31, 2025
+Added: Balance Sheet June 30, 2026 December 31, 2025
Location Notional Amount Fair Value Notional Amount Fair Value
Derivative assets:
+Added: Interest rate swaps - subordinated notes Other Assets $ 100,000 $ 899 $ — $ —
Interest rate swaps - securities Other Assets 10,635 104 — —
4 unchanged sentences
Totals $ 36,495 $ 132 $ 103,430 $ 12,282
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:
Amount of Gain (Loss) Recognized in Income
−Removed: Income Statement Three Months Ended March 31,
+Added: Income Statement Three Months Ended June 30, Six Months Ended June 30,
Location 2026 2025 2026 2025
7 unchanged sentences
Carrying Amount of the Hedged Item Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Item
−Removed: Balance Sheet Location March 31, 2026 December 31, 2025 March 31, 2026 December 31, 2025
+Added: Balance Sheet Location June 30, 2026 December 31, 2025 June 30, 2026 December 31, 2025
Long-term debt $ 86,594 $ 86,911 $ 12,684 $ 12,280
3 unchanged sentences
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.
−Removed: 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.
−Removed: The Company’s bought risk participation agreements have a notional amount of $ 252,165 and maturities between 2028 and 2032.
+Added: Risk participations for 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.
+Added: The risk participation agreements bought by the Company have a notional amount of $ 68,368 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.
−Removed: The Company’s sold risk participation agreements have a notional amount of $ 64,584 and have maturities between 2026 and 2032.
−Removed: The maximum potential amount of future payments under these risk participation agreements as of March 31, 2026 was approximately $ 937 .
−Removed: This scenario occurs if variable interest rates were at zero percent and all counterparties defaulted with zero recovery.
−Removed: The fair value of risk participation agreements at March 31, 2026 and 2025 was immaterial.
−Removed: 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
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: determine a net receivable or net payable upon early termination of the agreement.
+Added: The Company’s sold risk participation agreements have a notional amount of $ 251,499 and maturities between 2026 and 2032.
+Added: The maximum potential amount of future payments under these risk participation agreements as of June 30, 2026 was approximately $ 1,118 .
+Added: This scenario would occur if variable interest rates were at zero percent and all counterparties defaulted with zero recovery.
+Added: The fair value of risk participation agreements at June 30, 2026 and 2025 was immaterial.
+Added: Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when a “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.
Certain of the Company’s derivative instruments are subject to master netting agreements;
however, the Company has not elected to offset such financial instruments in the Consolidated Balance Sheets.
−Removed: Initial margin and variation margin is accounted for as collateral.
+Added: Initial margin and variation margin for derivatives transacted over the counter 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.
−Removed: For centrally cleared derivatives, variation margin is accounted for as settlement of the derivative fair value.
+Added: For centrally cleared derivatives, variation margin is accounted for as settlement of the derivative’s 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:
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Offsetting Derivative Assets Offsetting Derivative Liabilities
−Removed: 2026 December 31, 2025 March 31,
+Added: 2026 December 31, 2025 June 30,
2026 December 31, 2025
7 unchanged sentences
Note 10 – Income Taxes
−Removed: The effective tax rate was 20.1 % for both the three months ended March 31, 2026 and 2025.
+Added: The effective tax rate was 20.0 % and 22.1 % for the six months ended June 30, 2026 and 2025, respectively.
The Company calculated the provision for income taxes by applying the estimated annual effective tax rate to year-to-date pre-tax income, and adjusting for discrete items that occurred during the period.
+Added: The decrease in the effective tax rate was caused primarily by the Company’s continued investments in tax credits.
Note 11 – Fair Value Measurements
(In Thousands)
−Removed: Fair Value Measurements and the Fair Level Hierarchy
+Added: Fair Value Measurements and the Fair Value Hierarchy
Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” provides guidance for using fair value to measure assets and liabilities and establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.
10 unchanged sentences
Where quoted market prices in active markets are available, securities are classified within Level 1 of the fair value hierarchy.
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: quoted prices from active markets are not available, fair values are based on quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active, or model-based valuation techniques where all significant assumptions are observable in the market.
+Added: If quoted prices from active markets are not available, fair values are based on quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active, or model-based valuation techniques where all significant assumptions are observable in the market.
Such instruments are classified within Level 2 of the fair value hierarchy.
−Removed: 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.
+Added: All Level 2 securities, including obligations of 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 other market participants in determining fair value.
2 unchanged sentences
Most of the Company’s derivative contracts are extensively traded in over-the-counter markets and are valued using discounted cash flow models which incorporate observable market-based inputs including current market interest rates, credit spreads, and other factors.
−Removed: Such instruments are categorized within Level 2 of the fair value hierarchy and include interest rate swaps, interest rate collars and other interest rate contracts such as risk participations, interest rate caps and/or floors.
+Added: Such instruments are categorized within Level 2 of the fair value hierarchy and include
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: interest rate swaps, interest rate collars and other interest rate contracts such as risk participations, interest rate caps and/or floors.
The Company’s interest rate lock commitments are valued using current market prices for mortgage-backed securities with similar characteristics, adjusted for certain factors including servicing and risk.
6 unchanged sentences
Because the valuation is based on external pricing of similar instruments, mortgage loans held for sale are classified within Level 2 of the fair value hierarchy.
+Added: Contingent consideration :
+Added: The Company, from time to time, may acquire a business with a portion of the consideration to be paid to the seller contingent on a future event occurring (for example, based on a certain level of profitability or a certain level of loan growth being achieved by the acquired business).
+Added: Generally, this type of contingent consideration is classified as a liability.
+Added: The Company values liability-classified contingent consideration using a discounted scenario-based methodology.
+Added: Since this methodology is based on unobservable inputs, it is categorized within Level 3 of the fair value hierarchy.
The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:
Level 1 Level 2 Level 3 Totals
−Removed: March 31, 2026
+Added: June 30, 2026
Financial assets:
4 unchanged sentences
Financial liabilities:
+Added: Contingent consideration — — 6,327 6,327
Derivative instruments:
— 21,017 — 21,017
+Added: Total financial liabilities $ — $ 21,017 $ 6,327 $ 27,344
Level 1 Level 2 Level 3 Totals
10 unchanged sentences
Transfers between levels of the hierarchy are deemed to have occurred at the end of period.
−Removed: There were no such transfers between levels of the fair value hierarchy during the three months ended March 31, 2026.
+Added: There were no such transfers between levels of the fair value hierarchy during the six months ended June 30, 2026.
Renasant Corporation
Notes to Consolidated Financial Statements (Unaudited)
−Removed: For the three months ended March 31, 2026 and 2025, respectively, there were no gains or losses included in earnings that were attributable to the change in unrealized gains or losses related to assets or liabilities held at the end of each respective period that were measured on a recurring basis using significant unobservable inputs.
+Added: The following table presents information as of June 30, 2026 about significant unobservable inputs (Level 3) used in the valuation of liabilities measured at fair value on a recurring basis:
+Added: Financial liability Fair
+Added: Value Valuation Technique Significant
+Added: Unobservable Inputs Inputs
+Added: Contingent consideration $ 6,327 Discounted scenario-based probability-weighted cash flow
+Added: Probability of growth scenarios in factoring business
+Added: 2 % - 51 % (range)
+Added: 43 % (weighted average)
+Added: For the six months ended June 30, 2026 and 2025, respectively, there were no gains or losses included in earnings that were attributable to the change in unrealized gains or losses related to assets or liabilities held at the end of each respective period that were measured on a recurring basis using significant unobservable inputs.
+Added: The weighted average for the contingent consideration was calculated using a weighting based on relative fair value.
+Added: Uncertainty of Fair Value Measurements from Unobservable Inputs
+Added: A significant contraction of factoring relationships resulting from the factoring business acquired from REV Capital may cause a significant decrease in contingent consideration.
+Added: A significant increase in the factoring relationships would not have a meaningful impact to the contingent consideration payable to REV Capital.
Nonrecurring Fair Value Measurements
2 unchanged sentences
The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets as of the dates presented and the level within the fair value hierarchy each is classified:
−Removed: March 31, 2026 Level 1 Level 2 Level 3 Totals
+Added: June 30, 2026 Level 1 Level 2 Level 3 Totals
Collateral dependent loans $ — $ — $ 26,712 $ 26,712
10 unchanged sentences
The fair value of real estate is determined based on appraisals by qualified licensed appraisers.
−Removed: The fair value of the business assets is generally based on amounts reported on the business’s financial statements.
+Added: The fair value of the business assets is generally based on qualified independent valuations.
+Added: For smaller business assets, they are typically valued based on internal valuations or based on valuations in the business’s financial statements.
Appraised and reported values may be adjusted based on changes in market conditions from the time of valuation and management’s knowledge of the client and the client’s business.
6 unchanged sentences
Accordingly, values for OREO are classified as Level 3.
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
The following table presents, as of the dates presented, OREO measured at fair value on a nonrecurring basis that was still held on the Consolidated Balance Sheets at period-end:
7 unchanged sentences
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.
−Removed: Mortgage servicing rights were carried at amortized cost at March 31, 2026 and December 31, 2025.
−Removed: There were no valuation adjustments on MSRs during the three months ended March 31, 2026 or 2025.
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: The following table presents information as of March 31, 2026 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
+Added: Mortgage servicing rights were carried at amortized cost at June 30, 2026 and December 31, 2025.
+Added: There were no valuation adjustments on MSRs during the six months ended June 30, 2026 or 2025.
+Added: The following table presents information as of June 30, 2026 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrument Fair
6 unchanged sentences
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.
−Removed: A net loss of $ 2,197 and net gain of $ 2,853 resulting from fair value changes of these mortgage loans were recorded in income during the three months ended March 31, 2026 and 2025, respectively.
+Added: A net loss of $ 1,170 and net gain of $ 5,209 resulting from fair value changes of these mortgage loans were recorded in income during the six months ended June 30, 2026 and 2025, respectively.
These amounts do not reflect changes in fair values of related derivative instruments used to economically hedge exposure to market-related risks associated with these mortgage loans.
3 unchanged sentences
Interest income on mortgage loans held for sale measured at fair value is accrued as it is earned based on contractual rates and is reflected in loan interest income on the Consolidated Statements of Income.
−Removed: The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of March 31, 2026 and December 31, 2025:
+Added: The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of June 30, 2026 and December 31, 2025:
Fair Value Aggregate
Balance Difference
−Removed: March 31, 2026
+Added: June 30, 2026
Mortgage loans held for sale measured at fair value $ 241,588 $ 237,639 $ 3,949
1 unchanged sentence
Mortgage loans held for sale measured at fair value $ 265,959 $ 260,841 $ 5,118
−Removed: Fair Value of Financial Instruments
−Removed: The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:
Renasant Corporation
Notes to Consolidated Financial Statements (Unaudited)
−Removed: As of March 31, 2026 Carrying
+Added: Fair Value of Financial Instruments
+Added: The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:
+Added: As of June 30, 2026 Carrying
Value Level 1 Level 2 Level 3 Total
13 unchanged sentences
Derivative instruments 21,017 — 21,017 — 21,017
+Added: Contingent consideration 6,327 — — 6,327 6,327
As of December 31, 2025 Carrying
21 unchanged sentences
Post-retirement Benefit Plans Total
−Removed: Three months ended March 31, 2026
+Added: Three months ended June 30, 2026
Beginning balance $ ( 68,409 ) $ ( 38,482 ) $ 13,565 $ ( 6,298 ) $ ( 99,624 )
−Removed: Other comprehensive income (loss) before reclassification ( 15,891 ) 2,625 ( 885 ) 74 ( 14,077 )
+Added: Other comprehensive (loss) income before reclassification ( 9,195 ) 2,605 199 74 ( 6,317 )
Amounts reclassified from accumulated other comprehensive income — — 842 — 842
Tax expense (benefit) 2,383 ( 667 ) ( 266 ) ( 19 ) 1,431
+Added: Net other comprehensive (loss) income ( 6,812 ) 1,938 775 55 ( 4,044 )
+Added: Ending balance $ ( 75,221 ) $ ( 36,544 ) $ 14,340 $ ( 6,243 ) $ ( 103,668 )
+Added: Three months ended June 30, 2025
+Added: Beginning balance $ ( 83,919 ) $ ( 46,780 ) $ 16,107 $ ( 7,029 ) $ ( 121,621 )
+Added: Other comprehensive income (loss) before reclassification 9,040 2,840 ( 2,775 ) 100 9,205
+Added: Amounts reclassified from accumulated other comprehensive income — — 940 — 940
+Added: Tax (benefit) expense ( 2,282 ) ( 727 ) 470 ( 26 ) ( 2,565 )
Net other comprehensive income (loss) 6,758 2,113 ( 1,365 ) 74 7,580
Ending balance $ ( 77,161 ) $ ( 44,667 ) $ 14,742 $ ( 6,955 ) $ ( 114,041 )
−Removed: Three months ended March 31, 2025
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
+Added: Unrealized Gains (Losses) on Available-for-Sale Securities Amortization of unrealized holding losses on securities transferred to held to maturity Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Pension and
+Added: Post-retirement Benefit Plans Total
+Added: Six months ended June 30, 2026
Beginning balance $ ( 56,542 ) $ ( 40,435 ) $ 13,598 $ ( 6,353 ) $ ( 89,732 )
+Added: Other comprehensive (loss) income before reclassification ( 25,086 ) 5,230 ( 686 ) 148 ( 20,394 )
+Added: Amounts reclassified from accumulated other comprehensive income — — 1,683 — 1,683
+Added: Tax expense (benefit) 6,407 ( 1,339 ) ( 255 ) ( 38 ) 4,775
+Added: Net other comprehensive (loss) income ( 18,679 ) 3,891 742 110 ( 13,936 )
+Added: Ending balance $ ( 75,221 ) $ ( 36,544 ) $ 14,340 $ ( 6,243 ) $ ( 103,668 )
+Added: Six months ended June 30, 2025
+Added: Beginning balance $ ( 103,889 ) $ ( 49,045 ) $ 17,429 $ ( 7,103 ) $ ( 142,608 )
Other comprehensive income (loss) before reclassification 35,727 5,884 ( 5,481 ) 199 36,329
5 unchanged sentences
Amount Reclassified from Other Comprehensive Income
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
Accumulated Other Comprehensive Income Component 2026 2025 2026 2025 Income Statement Line Item Affected
19 unchanged sentences
Net income per common share - diluted $ 0.94 $ 0.01
+Added: Six Months Ended
+Added: Net income applicable to common stock $ 175,319 $ 42,536
+Added: Average common shares outstanding 92,666,370 79,209,073
+Added: Net income per common share - basic $ 1.89 $ 0.54
+Added: Net income applicable to common stock $ 175,319 $ 42,536
+Added: Average common shares outstanding 92,666,370 79,209,073
+Added: Effect of dilutive stock-based compensation 552,980 462,702
+Added: Average common shares outstanding - diluted 93,219,350 79,671,775
+Added: Net income per common share - diluted $ 1.88 $ 0.53
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:
1 unchanged sentence
Number of shares 1,000 500
+Added: Six Months Ended
+Added: Number of shares 1,000 1,400
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Note 14 – Segment Reporting
8 unchanged sentences
Accounting policies for each segment are the same as those described in Note 1, “Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
The following tables provide financial information for the Company’s operating segments as of and for the periods presented:
Management Total Segments Other Consolidated
−Removed: Three months ended March 31, 2026
+Added: Three months ended June 30, 2026
Total interest income $ 340,407 $ 13 $ 340,420 $ 20 $ 340,440
12 unchanged sentences
Goodwill 1,417,538 — 1,417,538 — 1,417,538
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
Management Total Segments Other Consolidated
−Removed: Three months ended March 31, 2025
+Added: Three months ended June 30, 2025
Total interest income $ 343,875 $ — $ 343,875 $ 23 $ 343,898
10 unchanged sentences
Net income (loss) $ 5,445 $ 2,378 $ 7,823 $ ( 6,805 ) $ 1,018
−Removed: Total assets (liabilities) $ 18,266,553 $ 5,495 $ 18,272,048 $ ( 667 ) $ 18,271,381
+Added: Total assets $ 26,598,942 $ 6,110 $ 26,605,052 $ 19,923 $ 26,624,975
Goodwill 1,419,782 — 1,419,782 — 1,419,782
+Added: Management Total Segments Other Consolidated
+Added: Six months ended June 30, 2026
+Added: Total interest income $ 678,494 $ 27 $ 678,521 $ 39 $ 678,560
+Added: Total interest expense 214,985 — 214,985 17,262 232,247
+Added: Net interest income (loss) $ 463,509 $ 27 $ 463,536 $ ( 17,223 ) $ 446,313
+Added: Provision for credit losses 11,879 — 11,879 — 11,879
+Added: Noninterest income (loss) 77,646 20,054 97,700 3,762 101,462
+Added: Salaries and employee benefits 175,495 9,890 185,385 2,592 187,977
+Added: Net occupancy and equipment 35,378 497 35,875 174 36,049
+Added: Other segment expenses (1)
+Added: 87,898 3,779 91,677 1,126 92,803
+Added: Income (loss) before income taxes $ 230,505 $ 5,915 $ 236,420 $ ( 17,353 ) $ 219,067
+Added: Income tax expense (benefit) 47,734 470 48,204 ( 4,456 ) 43,748
+Added: Net income (loss) $ 182,771 $ 5,445 $ 188,216 $ ( 12,897 ) $ 175,319
+Added: Total assets $ 26,977,257 $ 9,467 $ 26,986,724 $ 18,275 $ 27,004,999
+Added: Goodwill 1,417,538 — 1,417,538 — 1,417,538
+Added: Management Total Segments Other Consolidated
+Added: Six months ended June 30, 2025
+Added: Total interest income $ 564,182 $ — $ 564,182 46 $ 564,228
+Added: Total interest expense 195,876 — 195,876 15,296 211,172
+Added: Net interest income (loss) $ 368,306 $ — $ 368,306 $ ( 15,250 ) $ 353,056
+Added: Provision for credit losses 86,072 — 86,072 — 86,072
+Added: Noninterest income (loss) 70,785 14,881 85,666 ( 937 ) 84,729
+Added: Salaries and employee benefits 164,139 7,360 171,499 — 171,499
+Added: Net occupancy and equipment 28,662 418 29,080 33 29,113
+Added: Other segment expenses (2)
+Added: 93,962 2,104 96,066 402 96,468
+Added: Income (loss) before income taxes $ 66,256 $ 4,999 $ 71,255 $ ( 16,622 ) $ 54,633
+Added: Income tax expense (benefit) 16,120 237 16,357 ( 4,260 ) 12,097
+Added: Net income (loss) $ 50,136 $ 4,762 $ 54,898 $ ( 12,362 ) $ 42,536
+Added: Total assets $ 26,598,942 $ 6,110 $ 26,605,052 $ 19,923 $ 26,624,975
+Added: Goodwill 1,419,782 — 1,419,782 — 1,419,782
+Added: Renasant Corporation
+Added: Notes to Consolidated Financial Statements (Unaudited)
(1) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses.
2 unchanged sentences
Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses.
−Removed: Note 15 – Subsequent Events
−Removed: (In Thousands)
−Removed: On April 30, 2026, the Company, through a wholly-owned subsidiary, completed an acquisition of factoring receivables and related business processes.
−Removed: Pursuant to the guidance in ASC 805, this acquisition will be accounted for as a business
−Removed: Renasant Corporation
−Removed: Notes to Consolidated Financial Statements (Unaudited)
−Removed: Total assets purchased consisted of $ 59,257 of factoring receivables and $ 17,777 of intangible assets.
−Removed: As of the filing of this report, the Company has not completed the fair value measurements of the assets and identifiable intangible assets acquired as part of the transaction.
−Removed: On May 7, 2026, the Company completed a subordinated debt offering, issuing $ 300,000 aggregate principal amount of 6.25 % Fixed-to-Floating Rate Subordinated Notes due 2036 (the “Notes”).
−Removed: The Notes will bear interest from and including May 7, 2026 to, but excluding, June 1, 2031, at a fixed rate of 6.25 % per annum, payable semi-annually in arrears.
−Removed: From and including June 1, 2031 to but excluding June 1, 2036 (unless redeemed prior to such date), the Notes will bear interest at a floating rate equal to the Three-Month Term SOFR, plus 245 basis points, payable quarterly in arrears.
−Removed: The Company may redeem the Notes, in whole or in part, on or after June 1, 2031, at a price equal to 100 % of the principal amount of the Notes being redeemed plus accrued and unpaid interest to, but excluding, the date of redemption.
−Removed: The Notes are intended to qualify as Tier 2 capital for regulatory purposes.
−Removed: The Company intends to use the net proceeds from the Notes offering for general corporate purposes, including the potential redemption of the $ 40,000 aggregate principal amount outstanding of the Company's 5.50 % Fixed-to-Floating Rate Subordinated Notes due September 1, 2031.
−Removed: The issuance of the Notes occurred after the balance sheet date of March 31, 2026 and, accordingly, no amounts related to the Notes have been reflected in the accompanying financial statements.
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.