Loan Growth Achievement
Renasant achieved a loan growth of almost 10% during the quarter, with an increase of $462 million on a linked quarter basis or 9.9% annualized.
Profitability Improvement
The company's net income was $59.8 million or $0.63 per diluted share. Adjusted earnings, excluding merger charges, were $72.9 million or $0.77 per diluted share.
Return on Equity and Assets
Adjusted return on average assets improved by 12 basis points to 1.09%, and adjusted return on tangible common equity improved by 296 basis points to 14.22%.
Successful Integration with The First
The integration with The First and the systems conversion were completed successfully, contributing to positive financial results.
Capital and Efficiency Improvements
All regulatory capital ratios remain in excess of required minimums. The adjusted efficiency ratio improved by about 0.4 percentage points.