Renasant Corporation Announces 2010 Third Quarter Earnings

TUPELO, Miss., Oct. 19 /PRNewswire-FirstCall/ -- Renasant Corporation (Nasdaq: RNST) (the "Company") today announced results for the third quarter of 2010.  Net income for the third quarter of 2010 was $19,551,000 as compared to $3,796,000 for the second quarter of 2010 and $4,225,000 for the third quarter of 2009.  Basic and diluted earnings per share were $0.81 during the third quarter of 2010 as compared to basic and diluted earnings per share of $0.18 during the second quarter of 2010 and basic and diluted earnings per share of $0.20 for the third quarter of 2009.  

Highlights of the third quarter of 2010 included:

• The Company expanded into North Georgia through its acquisition of the assets of Crescent Bank & Trust ("Crescent") in an FDIC-assisted transaction.  The acquisition, which was completed on July 23, 2010, added 11 branches and increased total assets $778.8 million, total loans $369.6 million, total deposits $698.0 million, and resulted in a pre-tax gain of $42.2 million.
• On July 23, 2010, the Company completed a private placement of 3,925,000 shares of its common stock, resulting in proceeds to the Company, net of issuance costs, of $51.4 million.  The proceeds from the private placement further enhanced the Company's strong capital position.  The Company's leverage, Tier 1 and total capital ratios were 9.03%, 13.55% and 14.80%, respectively, at September 30, 2010, in all instances above "well-capitalized" thresholds.  The Company increased its tangible capital equity ratio to 7.00% at September 30, 2010 from 6.52% at June 30, 2010 and 6.34% at December 31, 2009.
• The Company hired seasoned banking talent at the production level in its Memphis, Tennessee, DeSoto County, Oxford and Columbus, Mississippi, and Birmingham, Alabama, markets.
• The Company opened its 5th branch in Birmingham by opening an office in Mountain Brook.  The Company also announced plans to open a new banking location in Columbus which, along with Starkville and West Point, is part of the growing "Golden Triangle" region of Northeast Mississippi.   We expect this location to open during the fourth quarter of 2010.

"We are proud of our accomplishments during the third quarter of 2010.  These accomplishments included our first FDIC-assisted acquisition, enhancement to our capital ratios, completion of a successful equity raise and continued improvement in our legacy operations," commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw.  "With additional capital, excess cash and strong reserves, we believe that we are positioned to take advantage of opportunities to expand our market share and footprint as they present themselves in the future."

Total assets as of September 30, 2010 were approximately $4.26 billion, an 18.43% increase since June 30, 2010 and a 16.90% increase from December 31, 2009.  Total deposits were $3.42 billion representing a 27.07% increase from June 30, 2010 and a 32.6% increase since December 31, 2009.  In the Company's legacy markets (that is, excluding the North Georgia markets), the Company experienced strong core deposit growth as deposits increased to $2.72 billion at September 30, 2010.  

Noninterest bearing deposits in the legacy markets grew to $322.3 million, an increase of 2.86% on a linked quarter basis and 5.67% since December 31, 2009.  Additionally, the Company continued to successfully reduce its cost of funding by changing the mix of interest bearing deposits by growing lower costing retail non-time deposits while at the same time reducing public fund and retail time deposits.  The Company's cost of legacy deposits for the third quarter of 2010 was 1.43% compared to 1.55% for the second quarter of 2010 and 1.76% for the third quarter of 2009.

Total loans were approximately $2.58 billion at the end of the third quarter of 2010 as compared to $2.26 billion at June 30, 2010 and $2.35 billion at December 31, 2009.  Loans from the Company's legacy markets were $2.22 billion for the third quarter of 2010.  The Company continued to focus on reducing its exposure to construction and land development loans.  In its legacy markets, the Company reduced its construction and land development portfolio by $24.1 million, or 7.80%, during the third quarter of 2010 to $284.6 million dollars, or 12.7% as a percentage of our legacy loan portfolio at September 30, 2010.  For the nine months ended September 30, 2010, the Company has reduced its construction and land development portfolio by $130.2 million, or 31.40%, compared to the balance of this portfolio at December 31, 2009.

Net interest income was $24.3 million for the third quarter of 2010 as compared to $23.7 million for the second quarter of 2010 and $25.2 million for the third quarter of 2009.  Net interest margin was 2.81% for the third quarter of 2010 as compared to 3.15% for the second quarter of 2010 and 3.22% for the third quarter of 2009.  The impact of the Crescent acquisition decreased net interest margin for the third quarter of 2010 by 16 basis points.  In addition, the Company repaid approximately $148 million of Federal Home Loan Bank ("FHLB") borrowings, including $23 million of FHLB borrowings assumed in the Crescent acquisition.  The Company incurred a $2.8 million prepayment penalty which further reduced net interest margin by 36 basis points.  The Company's net interest margin, excluding the impact of the Crescent acquisition and FHLB prepayment penalty, was 3.33% for the third quarter of 2010.

"We anticipate margin to improve as we continue to reduce rates on time deposit renewals, deploy excess cash from the Crescent acquisition and realize the full benefit of paying off high costing FHLB advances," commented McGraw.  

Noninterest income was $54.5 million for the third quarter of 2010, which includes a pre-tax gain of $42.2 million recognized in connection with the Crescent acquisition, as compared to $14.3 million for the second quarter of 2010 and $14.0 million for the third quarter in 2009.  During the third quarter of 2010, the Company experienced a 64% increase in mortgage fee income on a linked quarter basis which was offset by an impairment charge on its trust preferred securities portfolio of approximately $2.9 million.

Noninterest expense was $36.8 million for the third quarter of 2010 as compared to $26.2 million for the second quarter of 2010 and $26.1 million for the third quarter of 2009.  Noninterest expense for the third quarter of 2010 included normal operating expenses of Crescent, merger expenses related to the acquisition totaling $2.2 million and an impairment charge on the write-downs of other real estate owned of approximately $3.3 million for the quarter.

The loans acquired in the Crescent acquisition were recorded at fair value which includes an estimated loan impairment.  Therefore, in accordance with generally accepted accounting principles, the Company has not assigned any allowance for loan losses to these acquired loans at September 30, 2010.  Excluding the Crescent loans, the allowance for loan losses as a percentage of loans was 2.02% at September 30, 2010 as compared to 1.82% at June 30, 2010 and 1.67% at December 31, 2009.  The Company recorded a provision for loan losses of $11.5 million for the third quarter of 2010 as compared to $7.0 million for the second quarter of 2010 and $7.4 million for the third quarter of 2009.  The increase in the provision for loan losses in the third quarter of 2010 is reflective of the higher net charge-offs incurred during the quarter and potential deterioration in the collateral values on certain loans.  Annualized net charge-offs as a percentage of average loans were 1.18% for the third quarter of 2010 as compared to 1.21% for the second quarter of 2010 and 1.12% for the third quarter of 2009.  

Although the allowance for loan losses and the related provision for loan losses were not affected by the Crescent acquisition, the Company's other measures of credit quality were significantly impacted.  The Company's nonperforming loans were $132.7 million at September 30, 2010 which includes $67.1 million of nonperforming loans acquired in the Crescent acquisition.  However, we expect the loss share agreement with the FDIC, as well as our adjustments to the balances of the acquired Crescent assets to record them at fair value, to provide substantial protection against loss on those assets.  Excluding the impact of the Crescent loans, nonperforming loans (loans 90 days or more past due and nonaccrual loans) were $65.6 million at September 30, 2010 as compared to $64.7 million at June 30, 2010 and $50.0 million at December 31, 2009.  Furthermore, loans 30 to 89 days past due (excluding Crescent loans 30 to 89 days past due) as a percent of total loans was 1.05% at September 30, 2010 compared to 1.57% at June 30, 2010 and 1.03% at December 31, 2009.  

Other real estate owned, excluding other real estate owned from Crescent, was $62.9 million on September 30, 2010 as compared to $66.8 million on June 30, 2010 and $58.6 million at December 31, 2009.  We acquired other real estate owned with a fair value of $49.3 million in the Crescent acquisition.

"We look towards a strong finish to 2010 as we will soon enter a new banking market in Columbus, Mississippi, deploy excess cash to help grow margin, and continue to realize stabilization of nonperforming loans," stated McGraw.

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM EST on Wednesday, October 20, 2010.

The webcast can be accessed through Renasant's investor relations website at www.renasant.com or http://www.talkpoint.com/viewer/starthere.asp?Pres=132763.  To access the conference via telephone, dial 1-877-317-6789 in the United States and request the Renasant Corporation Third Quarter 2010 Earnings Webcast and Conference Call.  International participants should dial 1-412-317-6789 to access the conference call.

The webcast will be archived on www.renasant.com beginning one hour after the call and will remain accessible for one year.  Replays can also be accessed via telephone by dialing 1-877-344-7529 in the United States and entering 445166 or by dialing 1-412-317-0088 internationally and entering 445166.  Telephone replay access is available until 9:00 AM EST on November 4, 2010.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank and Renasant Insurance.  Renasant has assets of approximately $4.2 billion and operates over 75 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.

NOTE TO INVESTORS:

This news release may contain, or incorporate by reference, statements which may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Such forward looking statements usually include words such as "expects," "projects," "anticipates," "believes," "intends," "estimates," "strategy," "plan," "potential," "possible" and other similar expressions.  

Prospective investors are cautioned that any such forward-looking statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.  Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, significant underperformance in our portfolio of outstanding loans, and competition in our markets. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
																Q3 2010 -		For the Nine Months
		2010						2009								Q3 2009		Ended September 30,
		Third		Second		First		Fourth		Third		Second		First		Percent						Percent
Statement of earnings		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Variance		2010		2009		Variance
Interest income - taxable equivalent basis		$                 44,770		$                 39,590		$                 40,900		$                 42,526		$                 43,820		$                 43,836		$                 44,988		2.17		$                125,260		$               132,644		(5.57)
Interest income		$                 43,433		$                 38,381		$                 39,708		$                 41,331		$                 42,614		$                 42,709		$                 43,910		1.92		$                121,522		$               129,233		(5.97)
Interest expense		19,101		14,701		15,298		16,529		17,423		18,549		18,597		9.63		49,100		54,569		(10.02)
	Net interest income	24,332		23,680		24,410		24,802		25,191		24,160		25,313		(3.41)		72,422		74,664		(3.00)
Provision for loan losses		11,500		7,000		6,665		7,800		7,350		6,700		5,040		56.46		25,165		19,090		31.82
	Net interest income after provision	12,832		16,680		17,745		17,002		17,841		17,460		20,273		(28.08)		47,257		55,574		(14.97)
Service charges on deposit accounts		5,771		5,361		5,090		5,801		5,379		5,395		5,425		7.29		16,222		16,199		0.14
Fees and commissions on loans and deposits		3,654		3,409		3,721		3,554		3,961		4,424		4,682		(7.75)		10,784		13,067		(17.47)
Insurance commissions and fees		828		830		834		705		949		837		828		(12.75)		2,492		2,614		(4.67)
Trust revenue		562		632		584		559		501		488		491		12.18		1,778		1,480		20.14
Securities (losses) gains		(1,009)		2,049		(160)		123		-		1,123		427		-		880		1,550		(43.23)
Gain on sale of mortgage loans		1,774		994		1,329		1,665		1,832		2,293		1,776		(3.17)		4,097		5,901		(30.57)
Gain on acquisition		42,211		-		-		-		-		-		-		-		42,211		-		-
Other		743		1,069		1,086		1,012		1,331		864		1,133		(44.18)		2,898		3,328		(12.92)
	Total non-interest income	54,534		14,344		12,484		13,419		13,953		15,424		14,762		290.84		81,362		44,139		84.33
Salaries and employee benefits		16,694		13,052		13,197		13,572		13,363		13,736		14,744		24.93		42,943		41,843		2.63
Occupancy and equipment		3,271		2,926		2,931		2,981		3,045		3,063		3,249		7.42		9,128		9,357		(2.45)
Data processing		1,703		1,580		1,426		1,407		1,439		1,430		1,329		18.35		4,709		4,198		12.17
Amortization of intangibles		505		470		476		482		489		494		501		3.27		1,451		1,484		(2.22)
Other		14,613		8,160		7,604		7,141		7,782		8,409		7,097		87.78		30,377		23,288		30.44
	Total non-interest expense	36,786		26,188		25,634		25,583		26,118		27,132		26,920		40.85		88,608		80,170		10.53
Income before income taxes		30,580		4,836		4,595		4,838		5,676		5,752		8,115		438.76		40,011		19,543		104.73
Income taxes		11,029		1,040		988		807		1,451		1,496		2,109		660.10		13,057		5,056		158.25
	Net income	$                 19,551		$                   3,796		$                   3,607		$                   4,031		$                   4,225		$                   4,256		$                   6,006		362.75		$                  26,954		$                 14,487		86.06
Basic earnings per share		$                     0.81		$                     0.18		$                     0.17		$                     0.19		$                     0.20		$                     0.20		$                     0.29		305.00		$                      1.22		$                     0.69		76.81
Diluted earnings per share		0.81		0.18		0.17		0.19		0.20		0.20		0.28		305.00		1.21		0.68		77.94
Average basic shares outstanding		24,098,629		21,088,942		21,082,991		21,078,873		21,075,879		21,073,228		21,067,539		14.34		22,101,234		21,072,246		4.88
Average diluted shares outstanding		24,208,642		21,224,836		21,208,934		21,217,841		21,213,839		21,193,560		21,188,397		14.12		22,230,277		21,204,924		4.84
Common shares outstanding		25,041,540		21,100,130		21,082,991		21,082,991		21,078,828		21,074,568		21,067,539		18.80		25,041,540		21,078,828		18.80
Cash dividend per common share		$                     0.17		$                     0.17		$                     0.17		$                     0.17		$                     0.17		$                     0.17		$                     0.17		-		$                      0.51		$                     0.51		-
Performance ratios
Return on average shareholders' equity		16.64%		3.69%		3.55%		3.87%		4.12%		4.22%		6.04%				8.44%		4.79%
Return on average shareholders' equity, excluding amortization expense		16.91%		3.97%		3.84%		4.15%		4.41%		4.52%		6.35%				8.72%		5.10%
Return on average assets		1.83%		0.42%		0.40%		0.44%		0.46%		0.46%		0.65%				0.94%		0.52%
Return on average assets, excluding amortization expense		1.86%		0.45%		0.44%		0.47%		0.49%		0.49%		0.68%				0.97%		0.55%
Net interest margin (FTE)		2.81%		3.15%		3.27%		3.22%		3.22%		3.04%		3.19%				3.08%		3.15%
Yield on earning assets (FTE)		4.93%		5.02%		5.23%		5.26%		5.33%		5.27%		5.46%				5.08%		5.35%
Average earning assets to average assets		84.78%		87.42%		87.28%		88.19%		88.73%		89.25%		88.85%				86.45%		89.04%
Average loans to average deposits		76.41%		84.53%		88.47%		92.96%		94.22%		94.40%		99.13%				82.69%		95.88%
Noninterest income (less securities gains/
	losses) to average assets	5.19%		1.36%		1.42%		1.45%		1.51%		1.53%		1.54%				2.81%		1.53%
Noninterest expense to average assets		3.44%		2.90%		2.87%		2.79%		2.82%		2.91%		2.90%				3.09%		2.88%
Net overhead ratio		-1.75%		1.54%		1.45%		1.34%		1.31%		1.38%		1.36%				0.28%		1.35%
Efficiency ratio (FTE)		45.87%		66.75%		67.31%		64.91%		64.73%		66.65%		65.41%				56.25%		65.60%
*Percent variance not meaningful

RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
																Q3 2010 -		For the Nine Months
		2010						2009								Q3 2009		Ended September 30,
		Third		Second		First		Fourth		Third		Second		First		Percent						Percent
Average balances		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Variance		2010		2009		Variance
Total assets		$            4,246,566		$            3,616,125		$            3,621,361		$            3,640,514		$            3,675,592		$            3,738,852		$            3,763,245		15.53		$             3,830,155		$            3,725,532		2.81
Earning assets		3,600,033		3,161,214		3,160,620		3,210,554		3,261,527		3,337,103		3,343,699		10.38		3,311,167		3,317,233		(0.18)
Securities		729,789		734,690		697,913		719,298		703,976		701,894		696,068		3.67		720,914		697,076		3.42
Loans, net of unearned		2,533,567		2,304,663		2,354,443		2,397,195		2,465,298		2,542,021		2,587,436		2.77		2,400,482		2,531,138		(5.16)
Intangibles		192,447		190,639		190,881		191,591		192,078		192,568		193,067		0.19		192,391		192,567		(0.09)
Non-interest bearing deposits		$               351,449		$               315,242		$               310,726		$               307,753		$               297,390		$               293,546		$               299,265		18.18		$                325,890		$               296,711		9.83
Interest bearing deposits		2,929,739		2,387,175		2,332,741		2,247,854		2,286,184		2,342,788		2,250,324		28.15		2,552,064		2,293,230		11.29
	Total deposits	3,281,188		2,702,417		2,643,467		2,555,607		2,583,574		2,636,334		2,549,589		27.00		2,877,954		2,589,941		11.12
Borrowed funds		438,047		468,196		530,654		632,689		647,919		662,387		815,548		(32.39)		478,620		708,004		(32.40)
Shareholders' equity		466,109		412,959		412,132		413,773		406,779		404,456		403,229		14.59		427,100		404,043		5.71
Asset quality data
Assets not subject to loss share:
Nonaccrual loans		$                 56,674		$                 53,868		$                 44,688		$                 39,454		$                 37,995		$                 55,217		$                 47,591		49.16		$                  56,674		$                 37,995		49.16
Loans 90 past due or more		8,923		10,794		9,916		10,571		10,661		10,284		19,789		(16.30)		8,923		10,661		(16.30)
Non-performing loans		65,597		64,662		54,604		50,025		48,656		65,501		67,380		34.82		65,597		48,656		34.82
Other real estate owned and repossessions		62,936		66,797		62,508		58,568		47,457		30,546		25,318		32.62		62,936		47,457		32.62
Non-performing assets		$               128,533		$               131,459		$               117,112		$               108,593		$                 96,113		$                 96,047		$                 92,698		33.73		$                128,533		$                 96,113		33.73
Assets subject to loss share:
Nonaccrual loans		$                 67,135		$                          -		$                          -		$                           -		$                          -		$                          -		$                          -		-		$                  67,135		$                           -		-
Loans 90 past due or more		-		-		-		-		-		-		-		-		-		-		-
Non-performing loans subject to loss share		67,135		-		-		-		-		-		-		-		67,135		-		-
Other real estate owned and repossessions		49,286		-		-		-		-		-		-		-		49,286		-		-
Non-performing assets subject to loss share		$               116,421		$                          -		$                          -		$                           -		$                          -		$                          -		$                          -		-		$                116,421		$                           -		-
Net loan charge-offs (recoveries)		$                   7,514		$                   6,948		$                   4,716		$                   5,007		$                   6,962		$                   5,917		$                   4,764		7.93		$                  19,178		$                 17,643		8.70
Allowance for loan losses		45,131		41,146		41,094		39,145		36,352		35,964		35,181		24.15		45,131		36,352		24.15
Non-performing loans / total loans		2.93%		2.86%		2.37%		2.13%		2.03%		2.65%		2.69%				2.93%		2.03%
Non-performing assets / total assets		3.02%		3.66%		3.22%		2.98%		2.64%		2.59%		2.44%				3.02%		2.64%
Allowance for loan losses / total loans		2.02%		1.82%		1.78%		1.67%		1.51%		1.46%		1.40%				2.02%		1.51%
Allowance for loan losses /
non-performing loans		68.80%		63.63%		75.26%		78.25%		74.71%		54.91%		52.21%				68.80%		74.71%
Annualized net loan charge-offs /
average loans		1.18%		1.21%		0.81%		0.83%		1.12%		0.93%		0.75%				1.07%		0.93%
Balances at period end
Total assets		$            4,256,253		$            3,593,872		$            3,641,709		$            3,641,081		$            3,642,657		$            3,701,957		$            3,795,217				$             4,256,253		$            3,642,657		16.84
Earning assets		3,257,079		3,156,451		3,200,159		3,173,039		3,188,554		3,236,615		3,368,962				3,257,079		3,188,554		2.15
Securities		745,486		721,640		741,207		714,164		738,204		684,723		709,950				745,486		738,204		0.99
Mortgage loans held for sale		25,639		21,261		16,597		25,749		24,091		49,565		55,194				25,639		24,091		6.43
Loans, net of unearned		2,239,717		2,263,263		2,308,335		2,347,615		2,402,423		2,468,844		2,506,780				2,239,717		2,402,423		(6.77)
Assets subject to loss share		393,179		-		-		-		-		-		-				393,179		-		-
Intangibles		192,391		190,411		190,881		191,357		191,839		192,328		192,822				192,391		191,839		0.29
Non-interest bearing deposits		$               361,504		$               313,309		$               315,064		$               304,962		$               297,858		$               292,129		$               303,536				$                361,504		$               297,858		21.37
Interest bearing deposits		3,054,424		2,374,903		2,398,784		2,271,138		2,263,126		2,308,081		2,385,769				3,054,424		2,263,126		34.96
	Total deposits	3,415,928		2,688,212		2,713,848		2,576,100		2,560,984		2,600,210		2,689,305				3,415,928		2,560,984		33.38
Borrowed funds		322,245		459,762		483,183		618,024		635,076		665,755		672,130				322,245		635,076		(49.26)
Shareholders' equity		477,034		412,235		410,557		410,122		410,473		400,680		400,095				477,034		410,473		16.22
Market value per common share		$                   15.21		$                   14.35		$                   16.18		$                   13.60		$                   14.85		$                   15.02		$                   12.56				$                    15.21		$                   14.85		2.42
Book value per common share		19.05		19.54		19.47		19.45		19.47		19.01		18.99				19.05		19.47		(2.17)
Tangible book value per common share		11.37		10.51		10.42		10.38		10.37		9.89		9.84				11.37		10.37		9.59
Shareholders' equity to assets (actual)		11.21%		11.47%		11.27%		11.26%		11.27%		10.82%		10.54%				11.21%		11.27%
Tangible capital ratio		7.00%		6.52%		6.37%		6.34%		6.34%		5.94%		5.75%				7.00%		6.34%
Leverage ratio		9.03%		8.78%		8.74%		8.68%		8.56%		8.37%		8.28%				9.03%		8.56%
Tier 1 risk-based capital ratio		13.55%		11.42%		11.20%		11.12%		11.04%		10.92%		11.00%				13.55%		11.04%
Total risk-based capital ratio		14.80%		12.67%		12.45%		12.37%		12.29%		12.17%		12.25%				14.80%		12.29%
Loans not subject to loss share by category
Commercial, financial, agricultural		$               259,970		$               273,356		$               276,749		$               281,329		$               280,930		$               292,177		$               301,899				$                259,970		$               280,930		(7.46)
Lease financing		547		601		677		778		936		1,283		1,434				547		936		(41.56)
Real estate - construction		62,593		62,469		110,121		133,299		153,367		180,202		210,747				62,593		153,367		(59.19)
Real estate - 1-4 family mortgages		773,243		798,185		809,271		820,917		848,267		878,263		872,796				773,243		848,267		(8.84)
Real estate - commercial mortgages		1,078,396		1,071,876		1,055,102		1,040,589		1,048,135		1,054,169		1,055,537				1,078,396		1,048,135		2.89
Installment loans to individuals		64,968		56,776		56,415		70,703		70,788		62,750		64,367				64,968		70,788		(8.22)
	Loans, net of unearned	$            2,239,717		$            2,263,263		$            2,308,335		$            2,347,615		$            2,402,423		$            2,468,844		$            2,506,780				$             2,239,717		$            2,402,423		(6.77)
*Percent variance not meaningful

Contacts	For Media:	For Financials:
	John Oxford	Stuart Johnson
	Vice President	Senior Executive Vice President
	Director of External Affairs	Chief Financial Officer
	[phone]	[phone]
	[e-mail]	[e-mail]

SOURCE Renasant Corporation

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