earnings
confidence high
sentiment positive
materiality 0.75
Renasant Q2 net income $87.1M, EPS $0.94; dividend raised to $0.24; $300M debt offering
RENASANT CORP
- Net income $87.1M, diluted EPS $0.94; adjusted diluted EPS $0.94 (non-GAAP).
- Net interest margin (FTE) 3.83%, down 4 bps linked quarter; loans grew 4.7% annualized.
- Quarterly cash dividend increased to $0.24 per share; $60M stock repurchased at $39.54.
- Completed $300M subordinated debt offering (6.25% Fixed-to-Floating Notes due 2036).
- Credit quality improved: nonperforming loans to total loans 0.97% (down from 1.06%); criticized loans 2.66% (down from 2.77%).