RENASANT CORP
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 26, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net income | $195,457 | $144,678 | $166,068 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 9,273 | 15,593 | 23,871 |
| Depreciation, amortization and accretion | 32,284 | 35,231 | 42,744 |
| Deferred income tax expense (benefit) | 4,649 | (5,005) | 2,280 |
| Impairment losses on securities | — | 19,352 | — |
| Proceeds from sale of mortgage servicing rights | 23,011 | — | 18,525 |
| Gain on sale of mortgage servicing rights | (3,472) | (547) | (2,960) |
| Gain on sale of insurance agency | (53,349) | — | — |
| Funding of mortgage loans held for sale | (1,400,467) | (1,330,912) | (1,679,356) |
| Proceeds from sales of mortgage loans held for sale | 1,347,659 | 1,277,363 | 2,043,360 |
| Gains on sales of mortgage loans held for sale | (16,611) | (14,573) | (15,803) |
| Losses on sales of securities | — | 22,438 | — |
| Gain on debt extinguishment | (56) | (620) | — |
| Losses (gains) on sales of premises and equipment | 33 | (173) | (239) |
| Stock-based compensation | 13,883 | 13,716 | 11,505 |
| Increase in other assets | (15,014) | (51,986) | (29,671) |
| (Decrease) increase in other liabilities | (7,854) | 23,998 | (6,279) |
| Net cash provided by operating activities | 129,426 | 148,553 | 574,045 |
| Investing activities | |||
| Purchases of securities available for sale | (174,229) | (11,899) | (713,096) |
| Proceeds from sales of securities available for sale | 177,185 | 488,981 | — |
| Proceeds from call/maturities of securities available for sale | 88,830 | 149,025 | 385,507 |
| Purchases of securities held to maturity | — | — | (91,803) |
| Proceeds from call/maturities of securities held to maturity | 102,178 | 109,953 | 67,448 |
| Net increase in loans | (543,495) | (791,803) | (1,456,119) |
| Purchases of premises and equipment | (13,645) | (21,634) | (14,838) |
| Proceeds from sales of premises and equipment | 344 | 943 | 1,234 |
| Net cash received from sale of insurance agency | 55,333 | — | — |
| Purchase of bank-owned life insurance | — | — | (80,000) |
| Net change in FHLB stock | 4,795 | 16,076 | (27,807) |
| Proceeds from sales of other assets | 3,350 | 3,115 | 3,578 |
| Net cash paid in acquisitions | — | — | (120,888) |
| Other, net | 1,313 | 1,844 | 3,127 |
| Net cash used in investing activities | (298,041) | (55,399) | (2,043,657) |
| Financing activities | |||
| Net decrease in noninterest-bearing deposits | (179,694) | (975,081) | (159,368) |
| Net increase (decrease) in interest-bearing deposits | 675,521 | 1,564,900 | (259,390) |
| Net (decrease) increase in short-term borrowings | (199,559) | (404,655) | 668,805 |
| Repayment of long-term debt | (245) | (2,680) | (32,417) |
| Cash paid for dividends | (53,727) | (50,279) | (49,991) |
| Proceeds from equity offering | 217,000 | — | — |
| Net cash provided by financing activities | 459,296 | 132,205 | 167,639 |
| Net increase (decrease) in cash and cash equivalents | 290,681 | 225,359 | (1,301,973) |
See Notes to Consolidated Financial Statements. 72
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash and cash equivalents at beginning of year | 801,351 | 575,992 | 1,877,965 |
| Cash and cash equivalents at end of year | $1,092,032 | $801,351 | $575,992 |
| Supplemental disclosures | |||
| Cash paid for interest | $381,004 | $239,611 | $54,562 |
| Cash paid for income taxes | $29,065 | $42,047 | $41,764 |
| Noncash transactions: | |||
| Transfers of loans to other real estate | $5,037 | $10,738 | $2,207 |
| Recognition of operating right-of-use assets | $4,630 | $3,126 | $3,475 |
| Recognition of operating lease liabilities | $4,630 | $3,126 | $3,475 |
| Available for sale securities transferred to held to maturity securities | $— | $— | $882,927 |
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