Renasant Q1 net income $46.1M, EPS $0.82; NIM down 12 bps to 3.66%

RENASANT CORP

2023-Q1 EPS reported $0.82

Net income $46.1M ($0.82 diluted EPS) vs $33.5M ($0.60) year ago; flat vs Q4 2022.
Net interest margin 3.66%, down 12 bps linked quarter; cost of total deposits up 47 bps to 0.99%.
Loans grew $188.1M (6.6% annualized); deposits up $425.1M driven by $623.4M brokered deposits.
Nonperforming loans to total loans rose to 0.64% from 0.49%; net charge-offs $4.7M (0.16% annualized).
Mortgage rate lock volume $0.6B (up from $0.5B Q4); gain-on-sale margin fell 49 bps to 1.15%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RENASANT CORP reported the first quarter of 2023 results: net income $46.1 million, EPS diluted EPS of $0.82.

Period: the first quarter of 2023
Net income: $46.1 million
EPS: diluted EPS of $0.82
Result: reported results

Exact text from the filing

Net income for the first quarter of 2023 was $46.1 million with diluted EPS of $0.82

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Source: SEC EDGAR

accession 0000715072-23-000117

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