Renasant: Acquisitions, new branches improving bottom line
Published: April 26,2012
TUPELO — Renasant Corp. says its acquisitions and new branches are succeeding as it cut bad loans in the first quarter of 2012.
The bank said it earned quarterly profit of nearly $6 million, or 24 cents per share. The company earned about $7.5 million, or 30 cents per share, in the same quarter of 2011, but that number was partially due to a one-time windfall due to the acquisition of a failing Georgia bank.
The bank, with $4.18 billion in assets, exceeded the 23 cents per share predicted on average by analysts polled by FactSet.
The company said it has made more loans for three consecutive quarters.
Besides acquiring the failed Georgia bank, Renasant has opened branches in new markets and bought a trust business from RBC Bank.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- TECH 21 — Mississippi's most wanted in technology
- Circuit clerks question how to get records to McDaniel's trial
- Officials set hunting dates for birds; expands dove season by 20 days
- PEDIGREE dog food recalled; might contain metal fragments
- R.J. Allen ranked as fastest-growing company in Mississippi
- DAVID DALLAS — Mississippi needs one university
- Judicial candidates put on ballot after rejection of challenges
- Judge expected to rule today on McDaniel's challenge of loss to Cochran
- Isle of Capri reports decreased in-state revenues; experiencing 'market pressures'