Renasant Q2 EPS $0.69; sells insurance agency for $56.4M cash, net gain of $36.4M

RENASANT CORP

2024-Q2 EPS reported $1.38

Net income $38.8M ($0.69 diluted EPS); adjusted diluted EPS $0.69 (non-GAAP).
Net interest income $127.6M (+$1.7M QoQ); NIM 3.31% (+1bp).
Sale of Renasant Insurance completed July 1; cash proceeds $56.4M, estimated after-tax gain $36.4M in Q3.
Loans +$104.2M (3.4% annualized); deposits +$18.1M; brokered deposits reduced $183.7M.
Nonperforming loans to total loans rose to 0.78% vs 0.59% QoQ; criticized loans improved to 2.62%.

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