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- **Record Q3 Performance**: $72.9M adjusted net income, 9.9% annualized loan growth, and 1.09% ROA. 
- **Cost Efficiency**: Core expenses to decline $2-3M/Q in next two quarters. 
- **Strategic Momentum**: 300+ FTE reduction post-merger, with focus on revenue per employee. 
- **Capital Deployment**: $100M buyback authorization signals confidence in capital generation. 
- **Risk Management**: Criticized loans up 1/4 due to multifamily, C&I, and self-storage migration, but no loss exposure identified. 
- **Rate Outlook**: 4 rate cuts assumed, with NIM modestly contracting in Q4 before '26 expansion.

**【CEO Opening Remarks】**
- Q3 net income: $59.8M ($0.63/diluted share), adjusted earnings (excluding merger charges): $72.9M ($0.77/diluted share). 
- Loan growth: $462M (9.9% annualized), driven by distributed growth across all credit channels and geographies. 
- Deposit decline: $158M (seasonal public funds decrease), with focus on core deposit growth in line with loans. 
- Integration progress: Systems conversion completed in August; 2025 Q3 results reflect successful merger with The First, positioning to meet pre-merger profitability goals. 

**【CFO Financial Commentary】**
- Adjusted ROA: 1.09% (12bp YoY improvement), adjusted ROTCE: 14.22% (296bp YoY improvement). 
- Credit metrics: ACL at 1.56% of loans, net charge-offs $4.3M. 
- Expense management: Core NIE up $3M QoQ, with $2-3M expected declines in Q4 and Q1 '26. 
- Capital position: All regulatory ratios exceed 'well-capitalized' thresholds. 

**【Q&A Highlights】**
1. **Loan Growth Pipeline**: CEO notes Q3 growth across all channels, with legacy SBMS markets and Gulf Coast showing strength. 2025 Q3 marks first quarter with systems fully integrated. 
2. **Expense Savings**: CFO expects $2-3M quarterly declines in core NIE through Q1 '26, with modeled synergies emerging. 
3. **Deposit Strategy**: Focus on core deposit growth matching loan growth, despite seasonal public funds volatility. 
4. **Credit Quality**: Criticized loans increased broadly but no loss exposure; proactive risk management identifies early warning signs. 
5. **Buyback Authorization**: $100M share repurchase program announced, reflecting confidence in capital generation post-merger integration. 
6. **Rate Environment**: CFO assumes 4 rate cuts between now and end of '26, with net interest margin expected to modestly contract in Q4 before modest expansion in '26.

Renasant Corporation (RNST) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

RNST

RNST fundamentals

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