Renasant to acquire The First Bancshares in $1.2B all-stock merger; combined ~$25B assets

RENASANT CORP

Each FBMS share converts to 1 RNST share; deal valued at ~$1.2B based on RNST's July 26 close.
Combined pro forma: ~$25B assets, $18B loans, $21B deposits across 6 Southeast states.
Expected close in first half 2025, subject to regulatory and shareholder approvals; termination fee $40M.
The First's CEO Hoppy Cole to become Senior EVP and join Renasant and Renasant Bank boards.
Directors and officers of both firms entered voting agreements covering ~3.69% of FBMS and ~1.80% of RNST shares.

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