- Renasant Corporation (RNST, Financial) reported a net income of $41.5 million for Q1 2025.
- The company completed a merger with The First Bancshares, adding $8.0 billion in assets.
- Loans and deposits saw significant growth, with loans increasing by $170.6 million.
Renasant Corporation (RNST) announced its financial results for the first quarter of 2025, highlighting a net income of $41.5 million and a diluted earnings per share (EPS) of $0.65. The company's strategic merger with The First Bancshares was finalized on April 1, 2025, which significantly expanded Renasant's operations by adding approximately $8.0 billion in assets and 116 locations across five states.
In terms of financial metrics, Renasant (RNST, Financial) reported a net interest income of $137.4 million, an increase of $1.9 million from the previous quarter, and saw its net interest margin rise by 9 basis points to 3.45%. The company achieved a 5.4% annualized growth in its loan portfolio, with loans increasing by $170.6 million, while deposits grew by $199.5 million. Credit quality also improved, as nonperforming loans decreased to 0.76% of total loans.
No stock buybacks were made during the first quarter, although Renasant maintains a $100 million stock repurchase program effective through October 2025. Additionally, Renasant's book value per share rose 1.6%, and its tangible book value per share increased by 2.7% quarter-over-quarter. This performance underscores Renasant's strategic positioning following its merger and its robust start to the year.
