Stock Data
$0.33 (0.79%)
Asset Type
Common Stock
Exchange
NYSE
Currency
USD
Country
USA
Sector
FINANCIAL SERVICES
Industry
BANKS - REGIONAL
Renasant Corp is a banking institution based in Tupelo, Mississippi, offering a wide array of financial services. This includes personal and commercial banking, wealth management, and insurance solutions. With a focus on community banking, Renasant provides essential services such as checking and savings accounts, various loan options, and asset-based lending. Additionally, it offers specialized services like equipment leasing, mortgage financing, and online banking. Its wealth management division provides trust administration, investment services, and retirement planning, while its insurance segment offers a range of commercial and personal insurance products.
Renasant blew past revenue expectations by 21% as the Mississippi bank shed merger drag and posted $87.09 million in net income versus just $1.02 million a year ago, when acquisition costs tanked results. Nonperforming loans fell to 0.97% and the company hiked its dividend while authorizing $100 million more for buybacks, betting on sustained credit strength.
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