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Renasant posts record earnings in second quarter

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TUPELO, Miss. (AP) — Renasant Corp. has announced second-quarter earnings of $14.85 million, a record amount for the 110-year-old financial holding company.

Renasant's net income of 47 cents per share was 3 cents higher than consensus estimates, and was 85 percent higher than the $8.1 million, or 32 cents a share, recorded during last year's second quarter.

Renasant Chairman and CEO Robin McGraw says in a statement that the results demonstrated the continuing benefit of Renasant's merger with First M&F Bank, which was completed last September.

Renasant's total assets as of June 30 were $5.83 billion. Total loans were about $3.96 billion,

Excluding acquired loans, loans grew 7.3 percent to $3.1 billion at the end of the quarter.

Total deposits were $4.89 billion.

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