Renasant sees healthy quarterly earnings increase

TUPELO — Renasant Corporation recorded net income for the first quarter of 2011 of $7.553 million, compared to $4.721 million for the fourth quarter of 2010 and $3.6 million for the first quarter of 2010.

Basic and diluted earnings per share were $0.30 during the first quarter of 2011 as compared to basic and diluted earnings per share of $0.19 during the fourth quarter of 2010 and basic and diluted earnings per share of $0.17 for the first quarter of 2010.

“During the first quarter of 2011, we successfully completed our second FDIC-assisted acquisition in North Georgia, improved net interest margin and experienced our lowest levels of net charge-offs since 2008,” said Renasant chairman and CEO E. Robinson McGraw. “Moving forward in 2011, we will continue to position ourselves to increase future profitability, attract new talent and capitalize on expansion opportunities as they present themselves.”

Source: Renasant Corporation