Renasant-First M&F merger done; new company holds $5.8B in assets
by MBJ Staff
Published: September 4,2013
TUPELO and KOSCIUSKO — Renasant Corporation of Tupelo has completed its merger with First M&F Corporation, a bank holding company headquartered in Kosciusko and the parent of Merchants and Farmers Bank.
The combined company has approximately $5.8 billion in total assets with 130 banking, mortgage, financial services and insurance offices throughout Mississippi, Tennessee, Alabama and Georgia.
The merger adds $1.6 billion in assets, $1.4 billion in deposits and 42 banking and insurance locations throughout Renasant’s Mississippi, Alabama and Tennessee banking franchises. In addition, the merger significantly increases Renasant’s deposit market share in the Birmingham, Ala., and Memphis, Tenn., MSAs and the key Mississippi markets of Tupelo, Oxford and Starkville, while providing entrance into the markets surrounding Jackson. The merger will double Renasant’s insurance operations as M&F Insurance will become Renasant Insurance Inc., a subsidiary of Renasant Bank, on September 1, 2013.
The conversion and integration of M&F into Renasant is expected to be completed in December 2013.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- Mississippi Film Studios signs contract with New Orleans company
- MDOT cutting more than 40 jobs in Right-of-Way Division
- Granddaughter of Barq's Root Beer founder dies at 90
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s transition will help consolidate lawsuits alleging breach of contract
- Mars Food expanding Delta plant; investing $31M and adding jobs
- Board authorizes sale of company that owns Silver Slipper Casino
- JRA plans image makeover, hires crisis manager