Renasant Corp.

Renasant Corp.

Renasant Corp.

Overview
Date Founded

1982

Headquarters

209 Troy Street, Tupelo, MS, 38804-4827, USA

Type of Company

Public

Employees (Worldwide)

2,359

Industries

Retail & Commercial Banking
Holding Companies

Company Description

Renasant Corp. is a bank holding company, which engages in the provision of financial, fiduciary, and insurance services through its the Renasant Bank. It operates through the following segments: Community Banks, Insurance and Wealth Management. The Community Banks segment delivers banking and financial services to individuals and small to medium sized businesses including checking and savings accounts, business and personal loans, interim construction loans, specialty commercial lending, as well as safe deposit and night depository facilities. The Insurance segment includes full service insurance agency offering lines of commercial and personal insurance. The Wealth Management segment provides fiduciary services and administer qualified retirement plans, profit sharing and other employee benefit plans, personal trusts and estates. The company was founded in 1982 and is headquartered in Tupelo, MS.

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Executives & Employees

President, Chief Executive Officer & Director

Executive Chairman of the Board of the Company & Bank

Chief Financial Officer

Executive Vice President & General Counsel

Chief Revenue Officer

Chief Corporate Banking Officer

Chairman-Georgia

Senior Vice President & Director, Small Business & Community Development

Director

Senior Executive Vice President & Treasurer

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Owners & Shareholders
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Channing Capital Management employs a long-term value-oriented approach to investing in US mid-cap and small-cap stocks. The firm utilizes a fundamental, bottom-up value investment philosophy that focuses on undervalued and neglected stocks primarily with a market-cap of $2 billion to $15 billion. They look for companies that are trading at significant discounts to their intrinsic value. Portfolios are constructed on a stock-by-stock basis with a focus on the return potential of individual securities. Channing's relatively concentrated approach focuses on stock picking rather than market timing or sector allocation. The firm relies primarily on stock selection to generate above average returns as opposed to forecasts which emphasize sector weightings relative to a portfolio benchmark. However, Channing does employ sector and industry diversification as a risk management tool.

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Palisade Capital Management employs a comprehensive, bottom-up, fundamental investment approach. The firm focuses on small-cap core equity strategies and a variety of convertible security investment strategies. These strategies include: small cap core equity, focused all cap equity, convertible securities, short duration convertible securities, hedged convertibles, private equity, and hedged equity.Palisade provides continuous advice to institutional and individual private high net-worth clients through separately managed accounts. For these accounts, the firm's investment recommendations generally include advice regarding: exchange-listed securities, securities traded over-the-counter, foreign issuers, warrants, corporate debt securities (other than commercial paper), municipal securities, mutual fund shares, ETFs, US governmental securities, options contracts on securities, and options contracts on commodities.Palisade offers private wealth management services on a discretionary basis to high net-worth individuals through separately managed accounts. These accounts typically include the securities of individual issuers, however smaller accounts may also utilize mutual funds and ETFs to obtain an appropriate level of diversification. The investment strategies for these accounts include: growth, preservation of principal/income, and balanced/conservative.Palisade, as a sub-advisor, provides discretionary portfolio management services to several mutual fund clients, all of which are registered under the Investment Company Act of 1940: 1290 VT Convertible Securities Portfolio, 1290 Convertible Securities Fund, State Street Institutional Small-Cap Equity Fund, and State Street Small-Cap Equity V.I.S. Fund.Palisade provides investment advisory services to SEI Trust Co. through the management of the Palisade Capital Master Collective Trust, a bank-maintained trust that holds the commingled assets of certain participating qualified corporate and governmental retirement plans. The firm serves as the investment advisor to the Palisade Capital Small Cap Core Collective Fund, a separate investment portfolio SEI Trust Co.Palisade provides discretionary advice to the Palisade Strategic Master Fund (Cayman) Ltd. and its affiliated feeder entities, a private hedge fund using a hedged convertibles investment strategy, and to the Palisade Long Short Alpha Master Fund (Cayman) Ltd. and its affiliated feeder entity Palisade Long Short Alpha Fund (Domestic) LLC, a private hedge fund using a hedged equity investment strategy.The firm also acts as the investment advisor to various private equity partnerships.

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EJF Capital's fixed income strategy is designed to invest in mispriced fixed income securities and to limit downside risk if the expected events surrounding a particular investment do not materialize. The strategy may use debt, equity and hybrid investments in privately held companies. Private transactions may include securities offered pursuant to Rule 144A, and assets currently held by the US Dept. of the Treasury in connection with the Capital Purchase Program under the Troubled Asset Relief Program (TARP). The strategy may invest REITs that issue structured finance products, and it may acquire interests in common or preferred stock, senior debt, subordinated debt, convertible debt, options, notes, warrants and futures. Investment grade, senior tranches of securities issued by CDOs and other securitization vehicles may be used. in the strategy. In another strategy, a fund may focus on niche fixed income markets where it is believed attractive returns can be generated with moderate risk. This includes RMBS, CMBS and commercial real estate CDOs. Finally, the strategy may invest in agency whole pool mortgage certificates, commercial mortgage loans, CRE mezzanine loans, securities issued by financial institutions and net lease loans and properties.One of EJF's equity strategies employs a long/short strategy that seeks to invest in securities that are listed, quoted, or traded on stock markets domestically and internationally. The firm may also apply a strategy which uses special situations equity, such as orphaned securities previously issued by companies under Rule 144A. Securities in this strategy may be issued by either domestic or foreign companies. A fund using this strategy may also invest in securities consisting of packages of securities that have equity-like characteristics or equity-like returns, such as the purchase or sale of put or call option contracts, shorting shares of common stock or debt, and other securities.In a third equity strategy, EJF generally emphasizes individual bottom-up security and considers a wide range of factors in determining whether a security is overvalued or undervalued. The firm takes long positions in companies they believe to be high quality with above-average growth at attractive multiples, and short positions in companies they believe are underperforming relative to the market. EJF could allocate a substantial portion of a fund's assets to one or more concentrated positions that they believe are undervalued or overvalued. EJF hedges their equity position by allocating a portion of a given portfolio to cash and by taking short positions.EJF employs a private equity strategy The strategy seeks to take advantage of market opportunities that are available in the community banking and related sectors. In this strategy, the firm focuses on the following: Debt and Collateralized Debt Obligations; Mortgage Servicing Rights; and Cash and Short Term Investments.

Recent Transactions
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Capital City Bank Group, Inc., Capital City Bank (Tallahassee, Florida) purchase Brand Mortgage Group LLC from Renasant Corp.

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Renasant Corp., Renasant Bank purchase Firstbank /Nashville Tn//Wholesale Mortgage Origination Bus from FB Financial Corp.

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Renasant Corp. purchases Brand Group Holdings, Inc. from The Stephens Group LLC, C&B Capital, Dillon Joyce Ltd.

Transaction Advisors
Investment Advisor

Advised onRenasant Corp. purchases Capital Bancorp, Inc. (Tennessee)

Legal Advisor

Advised onRenasant Corp. purchases Heritage Financial Group, Inc. (Georgia)

Auditor

Advised onRenasant Corp. issued USD Common Stock

Legal Advisor

Advised onRenasant Corp. purchases Heritage Financial Group, Inc. (Georgia)

Legal Advisor

Advised onRenasant Corp. purchases First M & F Corp.

Associate

Advised onRenasant Corp. purchases Metropolitan BancGroup, Inc. from Presidio Investors LLC

Advisors & Consultants
Advisor

Principal, Investment Banking at Sandler O'Neill & Partners LP

Key Stats and Financials As of 2019
Market Capitalization
$1.65B
Total Enterprise Value
$2.93B
Earnings Per Share
$2.88
Revenue
$696M
Net Profit
$168M
Total Debt
$866M
Total Equity
$2.13B
Enterprise Value Sales
4.21x
TEVNet Income
17.44x
Debt TEV
0.3x
Three Year Compounded Annual Growth Rate Of Revenue
14.46%
Five Year Compounded Annual Growth Rate Of Revenue
18.07%
Non-Profit Donations & Grants
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Competitors
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South State Corp. is a bank holding company. It provides banking services and products to customers through its subsidiary. The company was founded on February 22, 1985 and is headquartered in Columbia, SC.

Simmons First National Corp. Retail & Commercial Banking - Pine Bluff, AR

Simmons First National Corp. is a financial holding company, which engages in the provision of banking and other financial products and services to individual and corporate customers. It conducts banking operations in communities throughout Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee and Texas. The firm offers consumer, real estate and commercial loans; checking, savings and time deposits; and specialized products and services, such as credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and small business administration. The company was founded on March 23, 1903 and is headquartered in Pine Bluff, AR.

TowneBank Retail & Commercial Banking - Portsmouth, VA

TowneBank engages in the provision of retail and commercial banking services to individuals and small and medium size businesses. It operates through the following segments: Banking, Realty, and Insurance. The Banking segment offers loan and deposit services to retail and commercial customers. The Realty segment focuses on the provision of residential real estate services and originations of a variety of mortgage loans. The Insurance segment includes the provision of full-service commercial and retail insurance, employee benefit services, and travel insurance. The company was founded by R. Scott Morgan on September 3, 1998 and is headquartered in Portsmouth, VA.

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