Renasant reports Q1 EPS 65c, consensus 62c

Reports book value per share and tangible book value per share increased 0.8% and 1.7%, respectively, on a linked quarter basis…The Company has a $100M stock repurchase program that is in effect through October; there was no buyback activity during the first quarter of 2024..Net income for the first quarter of 2024 was $39.4 M..Net interest income for the first quarter of 2024 was $125.9M down $2.7 M on a linked quarter basis..For the first quarter of 2024, net interest margin was 3.30%, down 3 basis points on a linked quarter basis…”The quarter’s results reflect solid performance across the company, including good loan and deposit growth,” remarked C. Mitchell Waycaster, Chief Executive Officer of the Company. “We continue to build balance sheet strength and believe this will keep Renasant well positioned for additional growth.”