Renasant Corporation Announces 2012 First Quarter Earnings

TUPELO, Miss., April 24, 2012 /PRNewswire/ --Renasant Corporation (NASDAQ: RNST) (the "Company") today announced its financial results for the first quarter of 2012. Net income for the first quarter of 2012 was $5,974,000, or basic and diluted earnings per share of $0.24, as compared to $5,790,000, or basic and diluted earnings per share of $0.23, for the fourth quarter of 2011. Net income for the first quarter of 2011 was $7,553,000, or basic and diluted earnings per share of $0.30, and included a pre-tax gain of $8,774,000 and pre-tax merger-related costs of $1,325,000 in connection with the American Trust FDIC-assisted acquisition.

"Our first quarter 2012 financial results reflect our continued focus in several key areas, specifically, generating new business and aggressively working through the remainder of our nonperforming assets. Looking back at the progress we have made over the last 12 months, it is noteworthy that we have grown loans for three consecutive quarters and increased noninterest bearing core deposits over 10 percent while reducing our nonperforming loans 47 percent on an annual comparison. We also experienced significant decreases in 30 to 89 days past due loans and other real estate owned during the same period," said Renasant chairman and chief executive officer, E. Robinson McGraw. "Capitalizing on new market entrances over the past 12 months, we have taken advantage of many opportunities to enhance our long-term profitability and expand our footprint and product delivery via both de novo branching and acquisitions in the southeast."

To recap the Company's new market opportunities over the past 12 months, during the first quarter of 2011, the Company successfully completed the conversion related to the acquisition of the assets of the former Crescent Bank & Trust of Jasper, Georgia, which was acquired in 2010. In February 2011, the Company acquired the assets of the former American Trust Bank in Roswell, Georgia, from the FDIC as the receiver of American Trust. On July 1, 2011, the Company announced its entrance into the Montgomery, Alabama banking market with a de novo branch just two days after it announced that it had entered into an agreement to acquire RBC Bank (USA)'s Birmingham-based Trust division, which was completed in August. Finishing out Renasant's new market entrances, the Company entered both the Starkville, Mississippi and Tuscaloosa, Alabama banking markets in late 2011 by opening de novo branches.

Total assets as of March 31, 2012, were approximately $4.18 billion, as compared to $4.20 billion as of December 31, 2011. The Company's Tier 1 leverage capital ratio was 9.38 percent, its Tier 1 risk-based capital ratio was 13.34 percent and its total risk-based capital ratio was 14.59 percent. In all capital ratio categories, the Company's regulatory capital ratios continued to be in excess of the regulatory minimums required to be classified as "well-capitalized."

"Through prudent capital and balance sheet management, we continue to enhance our strong capital position, as evidenced by our tangible capital ratio which was 7.47 percent as of March 31, 2012, an 81 basis point increase over the prior year. Our capital and related ratios are at levels that we believe adequately support future growth while at the same time allowing us to maintain our dividend," said McGraw.

Total deposits were $3.47 billion as of March 31, 2012, as compared to $3.41 billion as of December 31, 2011. The Company continues to improve its deposit mix by replacing higher-costing funds with lower-costing core deposits as evidenced by the 10.13 percent growth in the Company's noninterest bearing deposits as of March 31, 2012, compared to March 31, 2011. The result of these continued changes to the Company's funding mix, coupled with a reduction in borrowed funds, has reduced its cost of funds 47 basis points to 0.84 percent for the first quarter of 2012, as compared to 1.31 percent for the first quarter of 2011.

Total loans, which include both loans covered and not covered under FDIC loss-share agreements, were approximately $2.60 billion as of March 31, 2012, as compared to $2.58 billion as of December 31, 2011. Loans not covered under loss-share agreements were $2.28 billion as of March 31, 2012, as compared to $2.24 billion as of December 31, 2011, and $2.19 billion as of March 31, 2011, representing 1.80 percent linked quarter growth which annualizes to an approximate growth rate of 7.20 percent. Loans covered under the FDIC loss-share agreements decreased to $318 million as of March 31, 2012, as compared to $339 million as of December 31, 2011.

Net interest income was $32,843,000 for the first quarter of 2012, a 5.62 percent increase, from $31,096,000 for the first quarter of 2011. Net interest margin increased to 3.85 percent for the first quarter of 2012, as compared to 3.55 percent for the first quarter of 2011.

"Our increase in margin and net interest income was partly due to improvements in asset mix including an increase in loans, a decrease in nonaccrual loans and a decrease in cash. We also saw improvements in our liability mix that included an increase in demand deposit, savings and money market balances and a decline in borrowed funds. These improvements resulted in a 30 basis point increase in our net interest margin for the first quarter of 2012, as compared to the same period in 2011," stated McGraw.

Noninterest income was $16,387,000 for the first quarter of 2012, as compared to $21,035,000 for the first quarter in 2011. Noninterest income for the first quarter of 2011 included a one-time gain of $8,774,000 recognized in connection with the American Trust acquisition. Included in first-quarter 2012 noninterest income was a $904,000 gain from the sale of investment securities compared to a $12,000 gain from the sale of securities during the same period in 2011. Wealth management income totaled $1,942,000 for the first quarter of 2012, up $885,000, from the $1,057,000 realized during the same period in 2011, reflecting the full impact of the Company's trust acquisition.

"Our diversified sources of noninterest income, such as mortgage and wealth management, have helped augment reductions in other areas of noninterest income due to recently enacted regulatory requirements," said McGraw.

Noninterest expense was $36,621,000 for the first quarter of 2012, as compared to $35,993,000 for the first quarter of 2011. Included in noninterest expense for the first quarter of 2012 and 2011 were $898,000 and $1,903,000, respectively, in prepayment penalties related to the early extinguishment of higher-cost borrowings. Salaries and employee benefits were $18,649,000 during the first quarter of 2012, as compared to $16,237,000 during the first quarter of 2011. This increase is primarily attributable to the additional personnel from the Company's de novo branches and its trust acquisition. Also contributing to this increase was higher-than-anticipated health insurance costs.

Nonperforming assets covered under FDIC loss-share agreements totaled $115.3 million as of March 31, 2012, down from $132.3 million as of December 31, 2011 and $145.8 million as of March 31, 2011.

Nonperforming loans and other real estate owned ("OREO") covered under FDIC loss-share agreements totaled $79.8 million and $35.5 million, respectively, as of March 31, 2012, compared to $89.2 million and $43.1 million, respectively, as of December 31, 2011. The remaining discussion in this release of nonperforming loans, OREO and the related asset quality ratios exclude these assets covered under FDIC loss-share agreements.

The Company's nonperforming loans were $30.4 million as of March 31, 2012, down from $34.9 million as of December 31, 2011 and $57.2 million as of March 31, 2011. Nonperforming loans as a percentage of total loans were 1.33 percent as of March 31, 2012, as compared to 1.56 percent as of December 31, 2011, and 2.61 percent as of March 31, 2011. Furthermore, loans 30 to 89 days past due as a percent of total loans remained at pre-credit cycle levels and were 0.59 percent as of March 31, 2012, as compared to 0.71 percent as of December 31, 2011 and 0.86 percent as of March 31, 2011.

The Company's coverage ratio, or its allowance for loan losses as a percentage of nonperforming loans, was 145.15 percent as of March 31, 2012, as compared to 127.00 percent as of December 31, 2011, and 82.99 percent as of March 31, 2011. The allowance for loan losses as a percentage of loans was 1.94 percent as of March 31, 2012, as compared to 1.98 percent as of December 31, 2011 and 2.17 percent as of March 31, 2011.

The Company recorded a provision for loan losses of $4,800,000 for the first quarter of 2012, as compared to $6,000,000 for the fourth quarter of 2011 and $5,500,000 for the first quarter of 2011. Annualized net charge-offs as a percentage of average loans were 0.76 percent for the first quarter of 2012, as compared to 1.56 percent for the fourth quarter of 2011 and 0.54 percent for the first quarter of 2011.

OREO was $64.9 million as of March 31, 2012, as compared to $70.1 million as of December 31, 2011 and $71.4 million as of March 31, 2011. The Company continues to work aggressively to market OREO and currently has approximately $9.5 million of OREO under purchase agreements of which $3.6 million is scheduled to close during the second quarter of 2012.

"We are especially pleased to continue to see positive trends in our credit quality. During the first quarter of 2012, nonperforming loans decreased 13 percent and 47 percent on a linked quarter and year-over-year comparison, respectively, and nonperforming assets decreased 9 percent and 26 percent on a linked quarter and year-over-year comparison, respectively. In addition, our nonperforming loans, as compared to total loans, are at their lowest level since the second quarter of 2007. At the same time, our coverage ratio, which was approximately 145 percent, is at its highest level since the fourth quarter of 2007," stated McGraw.

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 a.m. EDT on Wednesday, April 25, 2012.

The webcast can be accessed through Renasant's investor relations website at www.renasant.com or https://services.choruscall.com/links/rnst120425.html. To access the conference via telephone, dial 1-877-317-6789 in the United States and request the Renasant Corporation First Quarter 2012 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 10012811 or by dialing 1-412-317-0088 internationally and entering the conference number.

ABOUT RENASANT CORPORATION:

Renasant Corporation, a 108-year-old financial services institution, 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)
															Q1 2012 -		For the Three Months
					2012		2011								Q4 2011		Ended March 31,
					First		Fourth		Third		Second		First		Percent						Percent
Statement of earnings					Quarter		Quarter		Quarter		Quarter		Quarter		Variance		2012		2011		Variance
Interest income - taxable equivalent basis					$ 42,001		$ 42,430		$ 43,432		$ 45,291		$ 45,371		(1.01)		$ 42,001		$ 45,371		(7.43)
Interest income					$ 40,505		$ 40,970		$ 41,930		$ 43,775		$ 43,803		(1.13)		$ 40,505		$ 43,803		(7.53)
Interest expense					7,662		8,475		9,066		11,153		12,707		(9.59)		7,662		12,707		(39.70)
	Net interest income				32,843		32,495		32,864		32,622		31,096		1.07		32,843		31,096		5.62
Provision for loan losses					4,800		6,000		5,500		5,350		5,500		(20.00)		4,800		5,500		(12.73)
	Net interest income after provision				28,043		26,495		27,364		27,272		25,596		5.84		28,043		25,596		9.56
Service charges on deposit accounts					4,525		4,527		4,797		5,082		4,880		(0.04)		4,525		4,880		(7.27)
Fees and commissions on loans and deposits					3,928		3,794		3,354		3,147		2,964		3.53		3,928		2,964		32.52
Insurance commissions and fees					898		812		847		783		832		10.59		898		832		7.93
Wealth management revenue					1,942		1,526		1,145		1,140		1,057		27.26		1,942		1,057		83.73
Securities gains (losses)					904		-		5,041		(258)		12		-		904		12		7,433.33
Gain on sale of mortgage loans					1,281		662		1,371		949		1,151		93.50		1,281		1,151		11.29
Gain on acquisition					-		-		570		-		8,774		-		-		8,774		(100.00)
Other					2,909		1,686		1,318		1,580		1,365		72.54		2,909		1,365		113.11
	Total noninterest income				16,387		13,007		18,443		12,423		21,035		25.99		16,387		21,035		(22.10)
																	.
Salaries and employee benefits					18,649		16,232		17,493		16,173		16,237		14.89		18,649		16,237		14.85
Occupancy and equipment					3,615		3,522		3,434		3,357		3,239		2.64		3,615		3,239		11.61
Data processing					2,040		1,925		1,927		1,657		1,788		5.97		2,040		1,788		14.09
Debt extinguishment penalty					898		-		-		-		1,903		-		898		1,903		(52.81)
Merger-related expenses					-		-		326		-		1,325		-		-		1,325		(100.00)
Other real estate					3,999		3,357		6,336		2,122		3,511		19.12		3,999		3,511		13.90
Amortization of intangibles					358		366		351		510		515		(2.19)		358		515		(30.49)
Other					7,062		6,962		7,092		7,825		7,475		1.44		7,062		7,475		(5.53)
	Total noninterest expense				36,621		32,364		36,959		31,644		35,993		13.15		36,621		35,993		1.74
Income before income taxes					7,809		7,138		8,848		8,051		10,638		(26.59)		7,809		10,638		(26.59)
Income taxes					1,835		1,348		2,316		2,294		3,085		36.13		1,835		3,085		(40.52)
	Net income				$ 5,974		$ 5,790		$ 6,532		$ 5,757		$ 7,553		3.18		$ 5,974		$ 7,553		(20.91)
Basic earnings per share					$ 0.24		$ 0.23		$ 0.26		$ 0.23		$ 0.30		4.35		$ 0.24		$ 0.30		(20.00)
Diluted earnings per share					0.24		0.23		0.26		0.23		0.30		4.35		0.24		0.30		(20.00)
Average basic shares outstanding					25,078,996		25,061,122		25,061,068		25,059,081		25,052,126		0.07		25,078,996		25,052,126		0.11
Average diluted shares outstanding					25,138,213		25,183,114		25,180,923		25,182,503		25,172,410		(0.18)		25,138,213		25,172,410		(0.14)
Common shares outstanding					25,105,732		25,066,068		25,061,068		25,061,068		25,056,431		0.16		25,105,732		25,056,431		0.20
Cash dividend per common share					$ 0.17		$ 0.17		$ 0.17		$ 0.17		$ 0.17		-		$ 0.17		$ 0.17		-
Performance ratios
Return on average shareholders' equity					4.88%		4.71%		5.36%		4.84%		6.51%				4.88%		6.51%
Return on average shareholders' equity, excluding amortization expense					5.06%		4.89%		5.54%		5.11%		6.78%				5.06%		6.78%
Return on average assets					0.57%		0.55%		0.63%		0.54%		0.69%				0.57%		0.69%
Return on average assets, excluding amortization expense					0.59%		0.57%		0.65%		0.57%		0.72%				0.59%		0.72%
Net interest margin (FTE)					3.85%		3.84%		3.92%		3.76%		3.55%				3.85%		3.55%
Yield on earning assets (FTE)					4.71%		4.80%		4.96%		4.99%		4.93%				4.71%		4.93%
Cost of funding					0.84%		0.92%		0.99%		1.17%		1.31%				0.84%		1.31%
Average earning assets to average assets					84.88%		84.22%		83.95%		84.75%		84.16%				84.88%		84.16%
Average loans to average deposits					75.45%		75.83%		76.23%		72.47%		70.20%				75.45%		70.20%
Noninterest income (less securities gains/losses) to average assets					1.47%		1.24%		1.28%		1.18%		1.93%				1.47%		1.93%
Noninterest expense to average assets					3.49%		3.08%		3.54%		2.96%		3.30%				3.49%		3.30%
Net overhead ratio					2.01%		1.84%		2.26%		1.77%		1.37%				2.01%		1.37%
Efficiency ratio (FTE)					72.19%		68.92%		69.99%		67.96%		67.03%				72.19%		67.03%
RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
															Q1 2012 -		For the Three Months
					2012		2011								Q4 2011		Ended March 31,
					First		Fourth		Third		Second		First		Percent						Percent
Average balances					Quarter		Quarter		Quarter		Quarter		Quarter		Variance		2012		2011		Variance
Total assets					$ 4,222,376		$ 4,172,518		$ 4,142,851		$ 4,294,530		$ 4,423,088		1.19		$ 4,222,376		$ 4,423,088		(4.54)
Earning assets					3,583,957		3,514,110		3,478,054		3,639,696		3,722,419		1.99		3,583,957		3,722,419		(3.72)
Securities					813,826		745,398		796,957		863,735		881,808		9.18		813,826		881,808		(7.71)
Loans, net of unearned					2,614,000		2,594,820		2,577,539		2,575,890		2,556,572		0.74		2,614,000		2,556,572		2.25
Intangibles					192,429		192,611		191,574		191,320		191,740		(0.09)		192,429		191,740		0.36
Noninterest-bearing deposits					$ 534,867		$ 523,807		$ 480,699		$ 468,170		$ 476,115		2.11		$ 534,867		$ 476,115		12.34
Interest-bearing deposits					2,897,750		2,854,146		2,880,248		3,072,809		3,148,481		1.53		2,897,750		3,148,481		(7.96)
	Total deposits				3,432,617		3,377,953		3,360,947		3,540,979		3,624,596		1.62		3,432,617		3,624,596		(5.30)
Borrowed funds					238,937		260,672		259,387		261,060		290,201		(8.34)		238,937		290,201		(17.66)
Shareholders' equity					492,092		487,752		483,121		476,896		470,875		0.89		492,092		470,875		4.51
Asset quality data
Assets not subject to loss share:
Nonaccrual loans					$ 26,999		$ 31,154		$ 40,363		$ 42,331		$ 46,406		(13.34)		$ 26,999		$ 46,406		(41.82)
Loans 90 past due or more					3,435		3,760		8,674		9,646		10,839		(8.64)		3,435		10,839		(68.31)
Nonperforming loans					30,434		34,914		49,037		51,977		57,245		(12.83)		30,434		57,245		(46.84)
Other real estate owned					64,931		70,079		72,765		68,384		71,415		(7.35)		64,931		71,415		(9.08)
Nonperforming assets not subject to loss share					$ 95,365		$ 104,993		$ 121,802		$ 120,361		$ 128,660		(9.17)		$ 95,365		$ 128,660		(25.88)
Assets subject to loss share:
Nonaccrual loans					$ 78,418		$ 88,034		$ 84,426		$ 78,780	#	$ 78,909		(10.92)		$ 78,418		$ 78,909		(0.62)
Loans 90 past due or more					1,397		1,134		12,222		10,619	#	7,817		23.19		1,397		7,817		(82.13)
Non-performing loans subject to loss share					79,815		89,168		96,648		89,399	#	86,726		(10.49)		79,815		86,726		(7.97)
Other real estate owned and repossessions					35,461		43,156		44,021		59,802	#	59,036		(17.83)		35,461		59,036		(39.93)
Non-performing assets subject to loss share					$ 115,276		$ 132,324		$ 140,669		$ 149,201	#	$ 145,762		(12.88)		$ 115,276		$ 145,762		(20.91)
Net loan charge-offs (recoveries)					$ 4,964		$ 10,192		$ 4,539		$ 5,284		$ 3,410		(51.30)		$ 4,964		$ 3,410		45.57
Allowance for loan losses					44,176		44,340		48,532		47,571		47,505		(0.37)		44,176		47,505		(7.01)
Nonperforming loans / total loans*					1.33%		1.56%		2.22%		2.38%		2.61%				1.33%		2.61%
Nonperforming assets / total assets*					2.28%		2.50%		2.94%		2.83%		2.91%				2.28%		2.91%
Allowance for loan losses / total loans*					1.94%		1.98%		2.20%		2.18%		2.17%				1.94%		2.17%
Allowance for loan losses / nonperforming loans*					145.15%		127.00%		98.97%		91.52%		82.99%				145.15%		82.99%
Annualized net loan charge-offs / average loans*					0.76%		1.56%		0.70%		0.82%		0.54%				0.76%		0.54%
Balances at period end
Total assets					$ 4,176,490		$ 4,202,008		$ 4,136,474		$ 4,259,200		$ 4,422,164		(0.61)		$ 4,176,490		$ 4,422,164		(5.56)
Earning assets					3,551,252		3,528,980		3,480,982		3,585,441		3,724,108		0.63		3,551,252		3,724,108		(4.64)
Securities					834,419		796,341		718,881		833,710		880,382		4.78		834,419		880,382		(5.22)
Mortgage loans held for sale					25,216		28,222		24,739		11,511		9,399		(10.65)		25,216		9,399		168.27
Loans not subject to loss share					2,281,957		2,241,622		2,204,955		2,185,490		2,190,376		1.80		2,281,957		2,190,376		4.18
Loans subject to loss share					318,089		339,462		359,813		377,149		386,811		(6.30)		318,089		386,811		(17.77)
	Total loans				2,600,046		2,581,084		2,564,768		2,562,639		2,577,187		0.73		2,600,046		2,577,187		0.89
Intangibles					191,968		192,326		192,755		191,086		191,581		(0.19)		191,968		191,581		0.20
Noninterest-bearing deposits					$ 535,955		$ 531,910		$ 493,130		$ 458,686		$ 486,676		0.76		$ 535,955		$ 486,676		10.13
Interest-bearing deposits					2,937,211		2,880,327		2,849,225		3,018,733		3,158,198		1.97		2,937,211		3,158,198		(7.00)
	Total deposits				3,473,166		3,412,237		3,342,355		3,477,419		3,644,874		1.79		3,473,166		3,644,874		(4.71)
Borrowed funds					171,753		254,709		262,569		263,067		260,149		(32.57)		171,753		260,149		(33.98)
Shareholders' equity					489,611		487,202		487,401		480,135		473,354		0.49		489,611		473,354		3.43
Market value per common share					$ 16.28		$ 15.00		$ 12.73		$ 14.49		$ 16.98		8.53		$ 16.28		$ 16.98		(4.12)
Book value per common share					19.50		19.44		19.45		19.16		18.89		0.34		19.50		18.89		3.23
Tangible book value per common share					11.86		11.76		11.76		11.53		11.25		0.78		11.86		11.25		5.42
Shareholders' equity to assets (actual)					11.72%		11.59%		11.78%		11.27%		10.70%				11.72%		10.70%
Tangible capital ratio					7.47%		7.35%		7.47%		7.11%		6.66%				7.47%		6.66%
Leverage ratio					9.38%		9.44%		9.48%		9.10%		8.77%				9.38%		8.77%
Tier 1 risk-based capital ratio					13.34%		13.32%		13.63%		13.58%		13.59%				13.34%		13.59%
Total risk-based capital ratio					14.59%		14.58%		14.89%		14.83%		14.84%				14.59%		14.84%
*Based on assets not subject to loss share
RENASANT CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
															Q1 2012 -		For the Three Months
					2012		2011								Q4 2011		Ended March 31,
					First		Fourth		Third		Second		First		Percent						Percent
Loans not subject to loss share by category					Quarter		Quarter		Quarter		Quarter		Quarter		Variance		2012		2011		Variance
Commercial, financial, agricultural					$ 263,720		$ 260,288		$ 247,950		$ 243,343		$ 250,889		1.32		$ 263,720		$ 250,889		5.11
Lease financing					302		328		350		393		458		(7.93)		302		458		(34.06)
Real estate - construction					67,223		74,159		75,690		77,224		71,559		(9.35)		67,223		71,559		(6.06)
Real estate - 1-4 family mortgages					738,765		716,704		712,871		720,451		730,860		3.08		738,765		730,860		1.08
Real estate - commercial mortgages					1,153,423		1,130,143		1,106,037		1,081,801		1,073,561		2.06		1,153,423		1,073,561		7.44
Installment loans to individuals					58,524		60,000		62,057		62,278		63,049		(2.46)		58,524		63,049		(7.18)
	Loans, net of unearned				$ 2,281,957		$ 2,241,622		$ 2,204,955		$ 2,185,490		$ 2,190,376		1.80		$ 2,281,957		$ 2,190,376		4.18
Loans subject to loss share by category
Commercial, financial, agricultural					$ 15,206		$ 17,803		$ 19,196		$ 24,233		$ 22,964		(14.59)		$ 15,206		$ 22,964		(33.78)
Lease financing					-		-		-		-		-		-		-		-		-
Real estate - construction					6,202		7,076		10,811		10,318		13,847		(12.35)		6,202		13,847		(55.21)
Real estate - 1-4 family mortgages					99,769		107,923		114,228		119,508		123,770		(7.56)		99,769		123,770		(19.39)
Real estate - commercial mortgages					196,754		206,492		215,370		222,876		226,038		(4.72)		196,754		226,038		(12.96)
Installment loans to individuals					158		168		208		214		192		(5.95)		158		192		(17.71)
	Loans, net of unearned				$ 318,089		$ 339,462		$ 359,813		$ 377,149		$ 386,811		(6.30)		$ 318,089		$ 386,811		(17.77)

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