Profile: Renasant Corp (RNST.O)
Renasant Corporation, incorporated on November 10, 1982, is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc. (Renasant Insurance). The Company's segments include Community Banks, Insurance, Wealth Management and Other. The Community Banks segment delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities. The Insurance segment includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers. The Wealth Management segment offers a range of fiduciary services, which includes the administration and management of trust accounts, including personal and corporate benefit accounts, self-directed Individual Retirement Accounts (IRA's), and custodial accounts. In addition, the Wealth Management segment offers annuities, mutual funds and other investment services through a third-party broker-dealer. The Bank has its operations in Mississippi, Tennessee, Alabama, Florida and Georgia. Renasant Insurance has its operations in Mississippi. Renasant Insurance is a subsidiary of the Bank.
The Company provides commercial, financial and agricultural loans (commercial loans), real estate one- to four-family mortgage loan, real estate-commercial mortgage loan, real estate-construction loan, installment loans to individuals and equipment financing and leasing. It uses commercial loan credit scoring models for smaller level commercial loans. It offers both first and second mortgages on residential real estate. It also offers loans for the preparation of residential real property prior to construction. In addition, it offers home equity lines of credit and term loans secured by first and second mortgages on the residences of borrowers for purchases, refinances, home improvements, education and other personal expenditures. Its construction loan portfolio consists of loans for the construction of single family residential properties, multi-family properties and commercial projects. It offers loans in which the owner develops a property where the source of repayment of the loan will come from the sale or lease of the developed property, for example, retail shopping centers, hotels, storage facilities and nursing homes, among others. It also offers commercial real estate loans to developers of commercial properties for purposes of site acquisition and preparation and other development prior to actual construction. As of December 31, 2015, the Bank's net loans amounted to $5.3 billion.
The Company's investment securities portfolio include obligations of other the United States Government agencies and corporations; Obligations of states and political subdivisions; mortgage-backed securities; Trust preferred securities; Other debt securities, and Other equity securities. The mortgage-backed securities and collateralized mortgage obligations (CMOs) held in the Company's investment portfolio are primarily issued by government sponsored entities. As of December 31, 2015, the Bank's total securities held to maturity amounted to $473.7 million and total securities available for sale amounted to $646.8 million.
Sources of Fund
The Company offers a range of deposit services and products to its consumer and commercial clients. Through its community branch networks, it offers consumer checking accounts with online and mobile banking, which includes bill pay and transfer features, interest bearing checking, money market accounts, savings accounts, certificates of deposit, individual retirement accounts and health savings accounts. For its commercial clients, it offers a suite of cash management products, which include remote deposit capture, electronic statements, positive pay, automated clearing house (ACH) origination and wire transfer, wholesale and retail lockbox, investment sweep accounts, enhanced business Internet banking, outbound data exchange and multi-bank reporting. Its deposits include noninterest-bearing deposits, interest-bearing demand deposits, savings deposits and time deposits. As of December 31, 2015, the Bank's total deposits amounted to $6.2 billion.
209 Troy St
TUPELO MS 38804-4827