Renasant to acquire Commercial Holding in ~$142M all-stock deal at 0.8798 exchange ratio

RENASANT CORP

Exchange ratio 0.8798 RNST shares per Commercial share, ~2.64M shares; plus ~$35.7M special cash dividend; total value ~$142M based on $40.29 10-day average.
Commercial Bank: nine branches in Paris, Union City, Jackson and Memphis, TN; $1.1B assets, $648M loans, $983M deposits as of Sept 30, 2026; $1.2B trust/wealth AUM.
Combined company would hold ~$28.6B assets, $20.4B loans and $22.6B deposits; 28 Tennessee branches with ~$2.6B deposits; closing expected in Q1 2027.
Needs Federal Reserve and Mississippi Dept. of Banking and Consumer Finance approvals plus Commercial shareholder vote; $7.0M termination fee payable by Commercial in certain cases.
Commercial Chairman and CEO Roy Molitor Ford Jr. is expected to join Renasant in a market executive role after closing; KBW advised Renasant, Olsen Palmer advised Commercial.

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