Renasant Corporation Announces 2011 Third Quarter Earnings

TUPELO, Miss., Oct. 18, 2011 /PRNewswire/ -- Renasant Corporation (NASDAQ: RNST) (the "Company") today announced its financial results for the third quarter of 2011. Net income for the third quarter of 2011 was $6,532,000 as compared to $5,757,000 for the second quarter of 2011. Basic and diluted earnings per share ("EPS") were $0.26 during the third quarter of 2011 as compared to basic and diluted EPS of $0.23 for the second quarter of 2011.

"We're pleased to have experienced a successful 2011 third quarter and believe expansion activities completed during the quarter will further enhance our performance," commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. "Highlights for the third quarter include loan growth, a linked quarter increase in net income, capital ratios, and net interest margin along with three de novo market entrances and the completion of our acquisition of RBC USA's Birmingham-based trust unit."

For the third quarter of 2010, the Company's net income was $19,551,000 and both its basic and diluted EPS were $0.81. The Company's third quarter 2010 net income and EPS included a bargain purchase gain of $42,211,000 from the Company's FDIC-assisted acquisition in 2010. This gain was partially offset by acquisition expenses of $1,955,000 and a prepayment penalty of $2,785,000 from the early extinguishment of debt.

Net interest income was $32,864,000 for the third quarter of 2011, which represents a slight increase from the second quarter of 2011 and a 21.19% increase from the third quarter of 2010. Net interest margin increased to 3.92% for the third quarter of 2011 as compared to 3.76% for the second quarter of 2011 and 3.12% for the third quarter of 2010.

"As planned, we have steadily improved net interest margin over the past 4 quarters. This improvement in net interest margin continues to be driven by our strategic efforts to restructure our funding mix and deploy cash into higher yielding alternatives," stated McGraw.

The Company's noninterest income continues to be derived primarily from multiple lines of recurring income which include but are not limited to wealth management, treasury management, insurance and mortgage lending along with income from deposit and loan products. Noninterest income was $19,613,000 for the third quarter of 2011 as compared to $13,334,000 for the second quarter of 2011 and $54,534,000 for the third quarter of 2010. Noninterest income for the third quarter of 2011 included a gain of $5,041,000 from the sale of securities, while noninterest income for the same period in 2010 included the aforementioned bargain purchase gain of $42,211,000 related to the Crescent Bank & Trust transaction.

Noninterest expense was $38,129,000 for the third quarter of 2011 as compared to $32,555,000 for the second quarter of 2011 and $39,571,000 for the third quarter of 2010. The increase in noninterest expense on a linked quarter basis was primarily due to costs associated with other real estate owned ("OREO"). The additional salary and employee benefits due to new hires in connection with our entrance into the markets of Starkville, Mississippi, and Montgomery and Tuscaloosa, Alabama, and the costs associated with our acquisition of RBC USA's Birmingham-based trust unit also contributed to this increase.

At September 30, 2011, the Company's Tier 1 leverage capital ratio was 9.48%, its Tier 1 risk-based capital ratio was 13.63%, and its total risk-based capital ratio was 14.89%. The Company's tangible common equity ratio was 7.47%. During the third quarter of 2011, all of the Company's capital ratios increased from December 31, 2010 and, in all regulatory capital ratios, the Company continues to be in excess of regulatory minimums required to be classified as "well-capitalized."

Total assets at September 30, 2011 were approximately $4.136 billion, down 2.88% from June 30, 2011 and 3.74% from December 31, 2010. Total deposits were $3.342 billion at September 30, 2011 compared to $3.477 billion at June 30, 2011 and $3.468 billion at December 31, 2010. The Company continues to focus on changing its deposit mix as evidenced by noninterest-bearing deposits representing 14.75% of total deposits as compared to 10.63% at December 31, 2010. Resulting from this focus, the Company's cost of funds was 0.99% for the third quarter of 2011 as compared to 1.17% for the second quarter of 2011 and 1.75% for the third quarter of 2010.

Total loans were approximately $2.565 billion at September 30, 2011 as compared to $2.563 billion at June 30, 2011 and $2.525 billion at December 31, 2010. Loans not covered under FDIC loss-share agreements were $2.205 billion at September 30, 2011 as compared to $2.185 billion at June 30, 2011 and $2.191 billion at December 31, 2010.

"Our loan growth during the third quarter of 2011 is reflective of our continued focus on taking advantage of business opportunities. This loan growth was achieved primarily from our existing branch network prior to our third quarter expansions. Looking ahead, we anticipate additional loan growth from our de novo markets as well as continued loan growth from our existing branch network," said McGraw.

The loans and OREO acquired in the Company's FDIC-assisted transactions are recorded at fair value which includes an estimated impairment. Furthermore, the loss-share agreements with the FDIC, as well as adjustments to the balances of these acquired assets to record them at fair value, mitigate the impact of further losses on these assets. Nonperforming loans and OREO covered under loss-share agreements totaled $96,648,000 and $44,021,000, respectively, at September 30, 2011. The remaining information in this release on nonperforming loans, other real estate owned and the related asset quality ratios excludes the assets covered under loss-share agreements.

The Company recorded a provision for loan losses of $5,500,000 for the third quarter of 2011 as compared to $5,350,000 for the second quarter of 2011 and $11,500,000 for the third quarter of 2010. Annualized net charge-offs as a percentage of average loans were 0.70% for the third quarter of 2011 as compared to 0.82% for the second quarter of 2011 and 1.18% for the third quarter of 2010. The allowance for loan losses as a percentage of loans was 2.20% at September 30, 2011 as compared to 2.18% at June 30, 2011 and 2.07% at December 31, 2010.

The Company's nonperforming loans were $49,037,000 at September 30, 2011 as compared to $51,977,000 at June 30, 2011 and $53,858,000 at December 31, 2010. Loans 30 to 89 days past due as a percentage of total loans were 0.75% at September 30, 2011 as compared to 0.80% at June 30, 2011 and 0.98% at December 31, 2010.

OREO was $72,765,000 at September 30, 2011 as compared to $68,384,000 at June 30, 2011 and $71,833,000 at December 31, 2010. During the third quarter of 2011, the Company sold approximately $4,125,000 in OREO, and an additional $4,937,000 in OREO under contract is expected to close during the fourth quarter of 2011.

"Our credit quality metrics continue to improve as we work problem assets through the resolution process. Our nonperforming loans and past due loans continued to decline during the third quarter of 2011. This decline, along with our efforts to build reserves, resulted in our highest coverage ratio since the second quarter of 2008," mentioned McGraw.

The Company announced three de novo banking expansions during the third quarter of 2011. On July 1, the Company announced its entrance into the Montgomery, Alabama banking market. On July 26, the Company announced its entrance into the Golden Triangle market of Starkville, which is home to Mississippi State University. Finally, on August 23, the Company announced its entrance into the Alabama market of Tuscaloosa, home of the University of Alabama. All of these new market entrances were built around the addition of experienced and successful bankers to the Company. In addition to these new markets, during the third quarter of 2011, the Company completed its acquisition of RBC Bank (USA)'s Birmingham-based $680 million asset trust division.

"During the third quarter we took advantage of several opportunities to expand our reach within our current footprint. We believe these new market entrances, coupled with the experienced banking talent that has joined Renasant, will enhance our already strong presence in Mississippi and Alabama," stated McGraw. "Moving into the fourth quarter, we believe our basic banking metrics are positive and we anticipate a strong finish for 2011."

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM EDT on Wednesday, October 19, 2011.

The webcast can be accessed through Renasant's investor relations website at www.renasant.com or https://services.choruscall.com/links/rnst111019.html. To access the conference via telephone, dial 1-877-317-6789 in the United States and request the Renasant Corporation Third Quarter 2011 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 conference number 10005613 or by dialing 1-412-317-0088 internationally and entering the conference number. Telephone replay access is available until 9:00 AM EDT on October 19, 2012.

ABOUT RENASANT CORPORATION:

Renasant Corporation, a 107-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $4.1 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.

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]

RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
																		Q3 2011 -		For the Nine Months
		2011						2010										Q3 2010		Ended September 30,
		Third		Second		First		Fourth		Third		Second			First			Percent						Percent
Statement of earnings		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter			Quarter			Variance		2011		2010		Variance
Interest income - taxable equivalent basis		$      43,432		$      45,291		$      45,371		$      45,224		$      44,770		$      39,590			$      40,900			(2.99)		$    134,094		$    125,260		7.05
Interest income		$      41,930		$      43,775		$      43,803		$      43,817		$      43,433		$      38,381			$      39,708			(3.46)		$    129,508		$    121,522		6.57
Interest expense		9,066		11,153		12,707		13,962		16,316		14,701			15,298			(44.44)		32,926		46,315		(28.91)
	Net interest income	32,864		32,622		31,096		29,855		27,117		23,680			24,410			21.19		96,582		75,207		28.42
Provision for loan losses		5,500		5,350		5,500		5,500		11,500		7,000			6,665			(52.17)		16,350		25,165		(35.03)
	Net interest income after provision	27,364		27,272		25,596		24,355		15,617		16,680			17,745			75.22		80,232		50,042		60.33
Service charges on deposit accounts		4,797		5,082		4,880		5,482		5,771		5,361			5,090			(16.88)		14,759		16,222		(9.02)
Fees and commissions on loans and deposits		4,898		4,548		4,138		4,184		3,654		3,409			3,721			34.04		13,584		10,784		25.96
Insurance commissions and fees		847		783		832		916		828		830			834			2.29		2,462		2,492		(1.20)
Trust revenue		771		650		613		626		562		632			584			37.19		2,034		1,778		14.40
Securities gains (losses)		5,041		(258)		12		-		(1,009)		2,049			(160)			(599.60)		4,795		880		444.89
Gain on sale of mortgage loans		1,371		949		1,151		2,127		1,774		994			1,329			(22.72)		3,471		4,097		(15.28)
Gain on acquisition		570		-		8,774		-		42,211		-			-			(98.65)		9,344		42,211		(77.86)
Other		1,318		1,580		1,365		1,218		743		1,069			1,086			77.39		4,263		2,898		47.10
	Total non-interest income	19,613		13,334		21,765		14,553		54,534		14,344			12,484			(64.04)		54,712		81,362		(32.75)
																				.
Salaries and employee benefits		17,493		16,173		16,237		15,957		16,694		13,052			13,197			4.79		49,903		42,943		16.21
Occupancy and equipment		3,434		3,357		3,239		2,716		3,271		2,926			2,931			4.98		10,030		9,128		9.88
Data processing		1,927		1,657		1,788		1,665		1,703		1,580			1,426			13.15		5,372		4,709		14.08
Debt extinguishment penalty		-		-		1,903		-		2,785		-			-			(100.00)		1,903		2,785		(31.67)
Merger-related expenses		326		-		1,325		-		1,955		-			-			(83.32)		1,651		1,955		(15.55)
Other real estate		6,336		2,122		3,511		3,288		4,635		959			736			36.70		11,969		6,330		89.08
Amortization of intangibles		351		510		515		523		505		470			476			(30.50)		1,376		1,451		(5.17)
Other		8,262		8,736		8,205		8,077		8,023		7,201			6,868			2.98		25,203		22,092		14.08
	Total non-interest expense	38,129		32,555		36,723		32,226		39,571		26,188			25,634			(3.64)		107,407		91,393		17.52
Income before income taxes		8,848		8,051		10,638		6,682		30,580		4,836			4,595			(71.07)		27,537		40,011		(31.18)
Income taxes		2,316		2,294		3,085		1,961		11,029		1,040			988			(79.00)		7,695		13,057		(41.07)
	Net income	$        6,532		$        5,757		$        7,553		$        4,721		$      19,551		$        3,796			$        3,607			(66.59)		$      19,842		$      26,954		(26.39)
Basic earnings per share		$          0.26		$          0.23		$          0.30		$          0.19		$          0.81		$          0.18			$          0.17			(67.90)		$          0.79		$          1.22		(35.25)
Diluted earnings per share		0.26		0.23		0.30		0.19		0.81		0.18			0.17			(67.90)		0.79		1.21		(34.71)
Average basic shares outstanding		25,061,068		25,059,081		25,052,126		25,042,137		24,098,629		21,088,942			21,082,991			3.99		25,057,458		22,101,234		13.38
Average diluted shares outstanding		25,180,923		25,182,503		25,172,410		25,177,394		24,208,642		21,224,836			21,208,934			4.02		25,186,177		22,230,277		13.30
Common shares outstanding		25,061,068		25,061,068		25,056,431		25,043,112		25,041,540		21,100,130			21,082,991			0.08		25,061,068		25,041,540		0.08
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		5.36%		4.84%		6.51%		3.93%		16.64%		3.69%			3.55%					5.56%		8.44%
Return on average shareholders' equity, excluding amortization expense		5.54%		5.11%		6.78%		4.20%		16.91%		3.97%			3.84%					5.80%		8.72%
Return on average assets		0.63%		0.54%		0.69%		0.44%		1.83%		0.42%			0.40%					0.62%		0.94%
Return on average assets, excluding amortization expense		0.65%		0.57%		0.72%		0.47%		1.86%		0.45%			0.44%					0.65%		0.97%
Net interest margin (FTE)		3.92%		3.76%		3.55%		3.43%		3.12%		3.15%			3.27%					3.74%		3.20%
Yield on earning assets (FTE)		4.96%		4.99%		4.93%		4.97%		4.92%		5.02%			5.23%					4.95%		5.08%
Cost of funding		0.99%		1.17%		1.31%		1.49%		1.75%		1.86%			1.95%					1.16%		1.86%
Average earning assets to average assets		83.95%		84.75%		84.16%		84.24%		84.78%		87.42%			87.28%					84.42%		86.45%
Average loans to average deposits		76.23%		72.47%		70.20%		74.57%		76.41%		84.53%			88.47%					73.04%		82.69%
Noninterest income (less securities gains/
	losses) to average assets	1.40%		1.27%		1.99%		1.35%		5.19%		1.36%			1.42%					1.56%		2.81%
Noninterest expense to average assets		3.65%		3.04%		3.37%		2.98%		3.70%		2.90%			2.87%					3.35%		3.19%
Net overhead ratio		2.26%		1.77%		1.37%		1.64%		-1.49%		1.54%			1.45%					1.79%		0.38%
Efficiency ratio (FTE)		70.64%		68.58%		67.47%		70.34%		47.68%		66.75%			67.31%					68.90%		57.01%

RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
																			Q3 2011 -		For the Nine Months
		2011							2010										Q3 2010		Ended September 30,
		Third		Second		First			Fourth		Third		Second			First			Percent						Percent
Average balances		Quarter		Quarter		Quarter			Quarter		Quarter		Quarter			Quarter			Variance		2011		2010		Variance
Total assets		$ 4,142,851		$ 4,294,530		$ 4,423,088			$ 4,285,887		$ 4,246,566		$ 3,616,125			$ 3,621,361			(2.44)		$ 4,284,463		$ 3,830,155		11.86
Earning assets		3,478,054		3,639,696		3,722,419			3,610,526		3,600,033		3,161,214			3,160,620			(3.39)		3,616,922		3,311,167		9.23
Securities		796,957		863,735		881,808			785,613		729,789		734,690			697,913			9.20		847,110		720,914		17.51
Loans, net of unearned		2,577,539		2,575,890		2,556,572			2,576,721		2,533,567		2,304,663			2,354,443			1.74		2,574,516		2,400,482		7.25
Intangibles		191,574		191,320		191,740			192,123		192,447		190,639			190,881			(0.45)		191,542		192,391		(0.44)
Non-interest bearing deposits		$    480,699		$    468,170		$    476,115			$    371,908		$    351,449		$    315,242			$    310,726			36.78		$    475,009		$    325,890		45.76
Interest bearing deposits		2,880,248		3,072,809		3,148,481			3,053,382		2,929,739		2,387,175			2,332,741			(1.69)		3,032,873		2,552,064		18.84
	Total deposits	3,360,947		3,540,979		3,624,596			3,425,290		3,281,188		2,702,417			2,643,467			2.43		3,507,882		2,877,954		21.89
Borrowed funds		259,387		261,060		290,201			318,873		438,047		468,196			530,654			(40.79)		270,103		478,620		(43.57)
Shareholders' equity		483,121		476,896		470,875			476,449		466,109		412,959			412,132			3.65		476,708		427,100		11.62
Asset quality data
Assets not subject to loss share:
Nonaccrual loans		$      40,363		$      42,331		$      46,406			$      46,662		$      56,674		$      53,868			$      44,688			(28.78)		$      40,363		$      56,674		(28.78)
Loans 90 past due or more		8,674		9,646		10,839			7,196		8,923		10,794			9,916			(2.79)		8,674		8,923		(2.79)
Non-performing loans		49,037		51,977		57,245			53,858		65,597		64,662			54,604			(25.25)		49,037		65,597		(25.25)
Other real estate owned and repossessions		72,765		68,384		71,415			71,833		62,936		66,797			62,508			15.62		72,765		62,936		15.62
Non-performing assets not subject to loss share		$    121,802		$    120,361		$    128,660			$    125,691		$    128,533		$    131,459			$    117,112			(5.24)		$    121,802		$    128,533		(5.24)
Assets subject to loss share:
Nonaccrual loans		$      84,426		$      78,780		$      78,909			$      82,393		$      67,135		$                -			$                -			25.76		$      84,426		$      67,135		25.76
Loans 90 past due or more		12,222		10,619		7,817			-	-	-		-			-			-		12,222		-		-
Non-performing loans subject to loss share		96,648		89,399		86,726			82,393		67,135		-			-			43.96		96,648		67,135		43.96
Other real estate owned and repossessions		44,021		59,802		59,036			54,715		49,286		-			-			(10.68)		44,021		49,286		(10.68)
Non-performing assets subject to loss share		$    140,669		$    149,201		$    145,762			$    137,108		$    116,421		$                -			$                -			20.83		$    140,669		$    116,421		20.83
Net loan charge-offs (recoveries)		$        4,539		$        5,284		$        3,410			$        5,217		$        7,514		$        6,948			$        4,716			(39.59)		$      13,233		$      19,178		(31.00)
Allowance for loan losses		48,532		47,571		47,505			45,415		45,132		41,146			41,094			7.53		48,532		45,132		7.53
Non-performing loans / total loans*		2.22%		2.38%		2.61%			2.46%		2.94%		2.86%			2.37%					2.22%		2.94%
Non-performing assets / total assets*		2.94%		2.83%		2.91%			2.92%		3.02%		3.66%			3.22%					2.94%		3.02%
Allowance for loan losses / total loans*		2.20%		2.18%		2.17%			2.07%		2.02%		1.82%			1.78%					2.20%		2.02%
Allowance for loan losses /
non-performing loans*		98.97%		91.52%		82.99%			84.32%		68.80%		63.63%			75.26%					98.97%		68.80%
Annualized net loan charge-offs /
average loans*		0.70%		0.82%		0.54%			0.80%		1.18%		1.21%			0.81%					0.69%		1.07%
Balances at period end
Total assets		$ 4,136,474		$ 4,259,200		$ 4,422,164			$ 4,297,327		$ 4,256,253		$ 3,593,872			$ 3,641,709			(2.81)		$ 4,136,474		$ 4,256,253		(2.81)
Earning assets		3,121,166		3,585,441		3,724,108			3,631,730		3,600,972		3,156,451			3,200,159			(13.32)		3,121,166		3,600,972		(13.32)
Securities		718,881		833,710		880,382			834,472		745,486		721,640			741,207			(3.57)		718,881		745,486		(3.57)
Mortgage loans held for sale		24,739		11,511		9,399			27,704		25,639		21,261			16,597			(3.51)		24,739		25,639		(3.51)
Loans not subject to loss share		2,204,955		2,185,490		2,190,376			2,190,909		2,231,075		2,263,263			2,308,335			(1.17)		2,204,955		2,231,075		(1.17)
Loans subject to loss share		359,813		377,149		386,811		333,681		352,535		-			-			2.07		359,813		352,535		2.07
	Total loans	2,564,768		2,562,639		2,577,187			2,524,590		2,583,610		2,263,263			2,308,335			(0.73)		2,564,768		2,583,610		(0.73)
Intangibles		192,755		191,086		191,581			191,867		192,391		190,411			190,881			0.19		192,755		192,391		0.19
Non-interest bearing deposits		$    493,130		$    458,686		$    486,676			$    368,798		$    361,504		$    313,309			$    315,064			36.41		$    493,130		$    361,504		36.41
Interest bearing deposits		2,849,225		3,018,733		3,158,198			3,099,353		3,054,424		2,374,903			2,398,784			(6.72)		2,849,225		3,054,424		(6.72)
	Total deposits	3,342,355		3,477,419		3,644,874			3,468,151		3,415,928		2,688,212			2,713,848			(2.15)		3,342,355		3,415,928		(2.15)
Borrowed funds		262,569		263,067		260,149			316,436		322,245		459,762			483,183			(18.52)		262,569		322,245		(18.52)
Shareholders' equity		487,401		480,135		473,354			469,509		477,034		412,235			410,557			2.17		487,401		477,034		2.17
Market value per common share		$        12.73		$        14.49		$        16.98			$        16.91		$        15.21		$        14.35			$        16.18			(16.31)		$        12.73		$        15.21		(16.31)
Book value per common share		19.45		19.16		18.89			18.75		19.05		19.54			19.47			2.09		19.45		19.05		2.09
Tangible book value per common share		11.76		11.53		11.25			11.09		11.37		10.51			10.42			3.43		11.76		11.37		3.43
Shareholders' equity to assets (actual)		11.78%		11.27%		10.70%			10.93%		11.21%		11.47%			11.27%					11.78%		11.21%
Tangible capital ratio		7.47%		7.11%		6.66%			6.76%		7.00%		6.52%			6.37%					7.47%		7.00%
Leverage ratio		9.48%		9.10%		8.77%			8.97%		9.03%		8.78%			8.74%					9.48%		9.03%
Tier 1 risk-based capital ratio		13.63%		13.58%		13.59%			13.58%		13.55%		11.42%			11.20%					13.63%		13.55%
Total risk-based capital ratio		14.89%		14.83%		14.84%			14.83%		14.80%		12.67%			12.45%					14.89%		14.80%
*Based on assets not subject to loss share

RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
																Q3 2011 -		For the Nine Months
		2011						2010								Q3 2010		Ended September 30,
		Third		Second		First		Fourth		Third		Second		First		Percent						Percent
Loans not subject to loss share by category		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Variance		2011		2010		Variance
Commercial, financial, agricultural		$    247,950		$    243,343		$    250,889		$    244,355		$    259,710		$    273,356		$    276,749		(4.53)		$    247,950		$    259,710		(4.53)
Lease financing		350		393		458		503		547		601		677		(36.01)		350		547		(36.01)
Real estate - construction		75,690		77,224		71,559		66,798		62,593		62,469		110,121		20.92		75,690		62,593		20.92
Real estate - 1-4 family mortgages		712,871		720,451		730,860		749,863		770,773		798,185		809,271		(7.51)		712,871		770,773		(7.51)
Real estate - commercial mortgages		1,106,037		1,081,801		1,073,561		1,065,271		1,072,484		1,071,876		1,055,102		3.13		1,106,037		1,072,484		3.13
Installment loans to individuals		62,057		62,278		63,049		64,119		64,968		56,776		56,415		(4.48)		62,057		64,968		(4.48)
	Loans, net of unearned	$ 2,204,955		$ 2,185,490		$ 2,190,376		$ 2,190,909		$ 2,231,075		$ 2,263,263		$ 2,308,335		(1.17)		$ 2,204,955		$ 2,231,075		(1.17)
Loans subject to loss share by category
Commercial, financial, agricultural		$      19,196		$      24,233		$      22,964		$      20,921		$      22,543		$                -		$                -		(14.85)		$      19,196		$      22,543		(14.85)
Lease financing		-		-		-		-		-		-		-		-		-		-		-
Real estate - construction		10,811		10,318		13,847		15,563		17,385		-		-		(37.81)		10,811		17,385		(37.81)
Real estate - 1-4 family mortgages		114,228		119,508		123,770		122,519		138,863		-		-		(17.74)		114,228		138,863		(17.74)
Real estate - commercial mortgages		215,370		222,876		226,038		174,572		172,145		-		-		25.11		215,370		172,145		25.11
Installment loans to individuals		208		214		192		106		1,599		-		-		(86.99)		208		1,599		(86.99)
	Loans, net of unearned	$    359,813		$    377,149		$    386,811		$    333,681		$    352,535		$                -		$                -		2.06		$    359,813		$    352,535		2.06

SOURCE Renasant Corporation

Copyright 2011 PR Newswire