Renasant Corp's Renasant Bank To Acquire RBC Bank (USA)'s Birmingham Based Trust Unit

Renasant Corp announced that its wholly owned subsidiary, Renasant Bank (Renasant), has entered into a definitive agreement to acquire the Birmingham, Alabama based trust department of RBC Bank (USA) (RBC Bank), which services clients in Alabama and Georgia. Under the terms of the transaction, prior to the closing RBC Bank will transfer its $680 million in assets under management, comprised of personal and institutional clients with over 200 trust, custodial and escrow accounts, to a wholly owned subsidiary, and Renasant will acquire all of the ownership interests in the subsidiary. The completion of the acquisition is subject to the receipt of regulatory approval and the satisfaction of certain other conditions.