By Ted Carter
Renasant Bank is telling the Great Recession “you’re not the boss of me.”
In fact, the recession hasn’t called many shots at all in the Tupelo boardroom of Renasant.
The $4.2 billion banking company is ignoring the banking sector slowdown as it completes an acquisition and branch tri-fecta for the year. Renasant, which has 75 banking, lending and insurance offices, took over a failed bank in north Georgia in the summer, opened a branch in New Albany in May and later opened a new branch in a Birmingham suburb.
This week (Nov. 17), it officially opened its new Columbus branch downtown at 905 Main St.
“We see the Golden Triangle as a solid banking market with tremendous growth potential,” says Scott Cochran, Renasant Mississippi Division president.
The Triangle is indeed a coveted market. When Trustmark announced its ill-fated acquisition of Cadence Bank, it noted the prosperity to be gained in the economically resurgent region and Cadence’s long relationships with businesses and individual account holders there. We all know that the story had a less-than-happy ending for Trustmark, as Cadence jilted the Jackson-based regional for a subsequent offer from a Houston banking investment group.