RENASANT CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
RNST$40.19+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net income | $144,678 | $166,068 | $175,892 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for (recovery of) credit losses | 15,593 | 23,871 | (2,168) |
| Depreciation, amortization and accretion | 35,231 | 42,744 | 47,350 |
| Deferred income tax (benefit) expense | (5,005) | 2,280 | 11,411 |
| Impairment losses on securities | 19,352 | — | — |
| Proceeds from sale of mortgage servicing rights | — | 18,525 | — |
| Gain on sale of mortgage servicing rights | (547) | (2,960) | — |
| Funding of mortgage loans held for sale | (1,330,912) | (1,679,356) | (4,059,927) |
| Proceeds from sales of mortgage loans held for sale | 1,277,363 | 2,043,360 | 4,116,106 |
| Gains on sales of mortgage loans held for sale | (14,573) | (15,803) | (82,399) |
| Valuation adjustment to mortgage servicing rights | — | — | (13,561) |
| Losses (gains) on sales of securities | 22,438 | — | (2,170) |
| Debt prepayment penalty | — | — | 6,123 |
| Gain on debt extinguishment | (620) | — | — |
| Gains on sales of premises and equipment | (173) | (239) | (840) |
| Stock-based compensation | 13,716 | 11,505 | 10,074 |
| Increase in other assets | (51,986) | (29,671) | (20,812) |
| Increase (decrease) in other liabilities | 23,998 | (6,279) | (42,420) |
| Net cash provided by operating activities | 148,553 | 574,045 | 142,659 |
| Investing activities | |||
| Purchases of securities available for sale | (11,899) | (713,096) | (2,107,934) |
| Proceeds from sales of securities available for sale | 488,981 | — | 176,455 |
| Proceeds from call/maturities of securities available for sale | 149,025 | 385,507 | 458,020 |
| Purchases of securities held to maturity | — | (91,803) | (52,135) |
| Proceeds from call/maturities of securities held to maturity | 109,953 | 67,448 | 2,246 |
| Net (increase) decrease in loans | (791,803) | (1,456,119) | 910,063 |
| Purchases of premises and equipment | (21,634) | (14,838) | (20,516) |
| Proceeds from sales of premises and equipment | 943 | 1,234 | 9,813 |
| Purchase of bank-owned life insurance | — | (80,000) | (50,000) |
| Net change in FHLB stock | 16,076 | (27,807) | 3,980 |
| Proceeds from sales of other assets | 3,115 | 3,578 | 6,342 |
| Net cash paid in acquisitions | — | (120,888) | — |
| Other, net | 1,844 | 3,127 | 3,663 |
| Net cash used in investing activities | (55,399) | (2,043,657) | (660,003) |
| Financing activities | |||
| Net (decrease) increase in noninterest-bearing deposits | (975,081) | (159,368) | 1,033,076 |
| Net increase (decrease) in interest-bearing deposits | 1,564,900 | (259,390) | 813,567 |
| Net (decrease) increase in short-term borrowings | (404,655) | 668,805 | (7,393) |
| Proceeds from long-term debt | — | — | 197,061 |
| Repayment of long-term debt | (2,680) | (32,417) | (202,873) |
| Cash paid for dividends | (50,279) | (49,991) | (50,017) |
| Repurchase of shares in connection with stock repurchase program | — | — | (21,315) |
| Net cash provided by financing activities | 132,205 | 167,639 | 1,762,106 |
| Net increase (decrease) in cash and cash equivalents | 225,359 | (1,301,973) | 1,244,762 |
| Cash and cash equivalents at beginning of year | 575,992 | 1,877,965 | 633,203 |
| Cash and cash equivalents at end of year | $801,351 | $575,992 | $1,877,965 |
See Notes to Consolidated Financial Statements. 72
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosures | |||
| Cash paid for interest | $239,611 | $54,562 | $45,745 |
| Cash paid for income taxes | $42,047 | $41,764 | $50,977 |
| Noncash transactions: | |||
| Transfers of loans to other real estate | $10,738 | $2,207 | $3,180 |
| Financed sales of other real estate owned | $— | $— | $577 |
| Recognition of operating right-of-use assets | $3,126 | $3,475 | $8,142 |
| Recognition of operating lease liabilities | $3,126 | $3,475 | $8,142 |
| Available for sale securities transferred to held to maturity securities | $— | $882,927 | $366,886 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.