Renasant Expands West Tennessee Franchise with More Than $900 Million in Deposits
Key Facts
Renasant Corporation announced an agreement to acquire Commercial Holding Company, the parent company of Commercial Bank & Trust Co., in a move that expands its banking franchise in West Tennessee by more than $900 million in low-cost core deposits. GlobeNewswire said in its deal summary that deposits are central to the geographic expansion Renasant is targeting in the region. The company said the deal "expands Renasant's West Tennessee franchise by more than $900 million in low-cost core deposits." The available information does not include a cash value for the deal or details about its terms or expected closing date. It also does not specify when the deposits tied to the acquisition will be reflected in the company's figures.
The deal follows a 398.4 million dollar quarter-over-quarter decline in Renasant's deposits through June 30, 2026. The company attributed 367.7 million dollars of the decline to seasonal outflows from public funds deposits during the second quarter. Noninterest-bearing deposits fell 145.4 million dollars from the previous quarter, accounting for 23.2% of total deposits at the end of June, compared with 23.5% at the end of March. The announced acquisition adds a base of low-cost core deposits to the company's West Tennessee franchise, while the available information has not disclosed the composition or terms of the deposits it will acquire. There is therefore no basis to estimate the deal's effect on total deposits or their cost after closing.
Renasant's second-quarter results showed GAAP net income of 87.091 million dollars, compared with 1.018 million dollars in the same quarter of 2025. Total assets were 27.005 billion dollars on June 30, 2026, compared with 26.625 billion dollars on June 30, 2025. Net interest margin on a tax-equivalent basis was 3.83% in the second quarter, down from 3.87% in the first quarter of 2026. On asset quality, the provision for credit losses on loans was 1.2 million dollars in the second quarter, while nonperforming loans declined to 0.97% of total loans on June 30, compared with 1.06% on March 31. These indicators provide context for the company's performance before the deal announcement, without details that would allow them to be linked to the acquisition's results.
Renasant says it has about $27 billion in assets and operates 279 banking, lending, mortgage and wealth management offices across the southeastern United States. That puts its West Tennessee expansion within an existing regional network, while the announced acquisition adds more than $900 million in low-cost core deposits, according to GlobeNewswire's summary. The company's shares, ticker RNST, closed at $41.75 on October 26, 2026, according to EL7 data. The available data does not include the session high or low, nor does it provide subsequent trading activity following the deal announcement. Renasant is scheduled to report third-quarter results after the New York Stock Exchange closes on October 27, 2026, and then hold an analyst call and webcast on October 28.