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.
Top Posts & Pages
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets
- Host families prepare for Mississippi Braves’ season
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- Ridgeland property rights tussle is expected to have wide impact
- Starkville's Cotton Mill Marketplace hotel breaks ground Wednesday
- Two new casinos like the odds on Mississippi Gulf Coast
- PHIL HARDWICK: When will Mississippi change its culture?
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- DAVID DALLAS — Roger Wicker: Profile in discouragement