Renasant Bank
 |
 | |
| Company type | Public |
|---|---|
| Industry | |
| Founded | 1904 |
| Headquarters | Tupelo, Mississippi, U.S. |
Key people | Claude Mitchell "Mitch" Waycaster (President), Kevin Chapman (CEO) |
| Products | Financial services |
Number of employees | 2,400[1] |
| Website | renasantbank.com |
Renasant Bank is an American regional commercial financial institution based in Tupelo, Mississippi. The bank has a market cap of greater than $1 billion and more than 190 branches in Alabama, Florida, Georgia, Mississippi and Tennessee.[2] Renasant Bank operates under the parent company Renasant Corporation[3] and is affiliated with Renasant Nation,[4] a platform through which they publish blogs and shows.[4][5]
History
[edit]Renasant began as The Peoples Bank and Trust Company in 1904. Throughout the 1980s and 1990s the bank grew by acquiring small local banks in Mississippi. In 2005, it acquired Heritage Bank of Decatur, Alabama,[6] and Renasant Bancshares of Memphis, Tennessee and assumed the new Renasant Bank moniker. In 2007, Renasant acquired Capital Bank of Nashville, Tennessee. In 2010, as part of the financial crisis, it acquired the failed Crescent Bank and Trust of Jasper, Georgia and later the American Trust Bank of Roswell, Georgia, both suburban Atlanta banks. Additional acquisitions followed in the 2010s, Merchants and Farmers Bank of Kosciusko, Mississippi in 2013, Heritage Bank of the South in Albany, Georgia, in 2015, and Keyworth Bank of Johns Creek, Georgia.[7][8] In the third quarter of 2018, Renasant acquired BrandBank of Lawrenceville, Georgia, adding 13 more locations. In 2024, Renasant Corporation and The First Bancshares, Inc. headquartered in Hattiesburg, Mississippi jointly announced that they had entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant in an all-stock transaction valued at approximately $1.2 billion. The Merger will create a six-state Southeastern banking franchise with approximately $25 billion in total assets, $18 billion in total loans and $21 billion in total deposits and add an additional 116 locations. The merger is expected to close in the first half of 2025.
Services offered
[edit]Renasant Bank offers checking and savings accounts, credit cards, wealth management, and digital banking services.[9] It also offers conforming, FHA, Jumbo, VA, and USDA mortgages as well as HELOCs.[10][11] For businesses, it offers treasury and corporate banking services.[12]
Asset history
[edit]| Year | Reported Assets |
|---|---|
| 1954 | $3 million |
| 1973 | $73 million |
| 2003 | $1 billion+ |
| 2007 | $3.4 billion |
| 2012 | $4.2 billion |
| 2016 | $8.69 billion |
| 2017 | $9.82 billion |
| 2018 | $12.93 billion |
| 2019 | $13.40 billion |
| 2024 | $18 billion |
References
[edit]- ^ "About Us | Renasant Bank Local Community Banking".
- ^ a b "About". www.renasantbank.com. Retrieved 2020-03-24.
- ^ "Corporate Profile › Renasant Bank". www.renasant.com. Retrieved 2020-03-24.
- ^ a b "Renasant Nation | Brought to you by Renasant Bank". Renasant Nation. Retrieved 2020-03-24.
- ^ "Shows". Renasant Nation. Retrieved 2020-03-24.
- ^ "Renasant's purchase of HeritageBank of the South approved". 17 June 2015.
- ^ "Renasant Bank, History". usbanklocations.com. Retrieved 16 August 2016.
- ^ http://www.renasant.com/MNA/100541
- ^ "Home". renasant.com.
- ^ "Renasant Bank, Mortgage". Retrieved 19 December 2020.
- ^ "Renasant Bank Mortgage Services and Reviews". mortgagewaldo.com. 19 March 2020. Retrieved 19 December 2020.
- ^ "Business Banking | Renasant Bank Business Financial Support".
- ^ "As Reported Financials › Renasant Bank". investors.renasant.com. Retrieved 2020-03-24.
