Renasant Bank enters new Alabama market

TUPELO — Renasant Corporation’s wholly owned subsidiary, Renasant Bank, is entering the banking market of Montgomery, Ala., through its hiring of an established banking team. The entry into Montgomery adds to Renasant’s current Alabama footprint of multiple full-service locations in Birmingham, Huntsville, Decatur and Madison, which has over $600 million in assets.

Mike Ross, Renasant Alabama Division president, said, “We continue to experience tremendous success in our Alabama operations. This opportunity, along with future planned expansion, will not only allow us to build on our recent successes but will be vital in providing future growth in our Alabama markets.”

Leading Renasant’s entry into Montgomery will be Pete Knight Jr. Knight will bring his 30 years of banking experience to serve as Renasant Montgomery City president.

Initially joining Knight on Renasant’s new Montgomery team will be Bill Renfroe, who will serve as senior vice president and commercial relationship manager, and Gerald Boone, who will serve as vice president and commercial relationship manager. The three Renasant bankers have over 60 combined years of banking industry leadership experience.

The Montgomery market entrance will be Renasant’s eighth expansion and the third in Alabama over the past 12 months. Renasant’s entrance into the Montgomery market comes just two days after it announced that it entered into an agreement to acquire RBC Bank (USA)’s Birmingham-based $680-million asset Trust division.

Source: Renasant