Renasant Corp. on Monday reported second-quarter net income of $20.1 million.
The Tupelo, -based bank said it had earnings of 36 cents per share. Earnings, adjusted for non-recurring costs, were 52 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The holding company for Renasant Bank posted revenue of $188.1 million in the period. Its revenue net of interest expense was $170 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $147.7 million.
Renasant shares have decreased 33% since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.65, a drop of 33% in the last 12 months.
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