RENASANT CORP - FORM 8-K - EX-99.1 - PRESS RELEASE

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8-K - FORM 8-K - RENASANT CORP	d8k.htm

Exhibit 99.1

LOGO


Contacts	For Media:	For Financials:
	John Oxford	Stuart Johnson
	Vice President	Senior Executive Vice President
	Director of External Affairs	Chief Financial Officer
	(662) 680-1219	(662) 680-1472
	joxford@renasant.com	stuartj@renasant.com

RENASANT CORPORATION ANNOUNCES

2011 SECOND QUARTER EARNINGS

TUPELO, MISSISSIPPI (July 19, 2011) – Renasant Corporation (NASDAQ: RNST) (the “Company”) today announced its financial results for the second quarter of 2011. Net income for the second quarter of 2011 was $5,757,000 as compared to $3,796,000 for the second quarter of 2010. Basic and diluted earnings per share were $0.23 during the second quarter of 2011 as compared to basic and diluted earnings per share of $0.18 for the second quarter of 2010.

“We are very pleased with our solid financial performance for the second quarter for 2011,” commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. “As projected, we increased our net interest margin and continued to build on our capital ratios while at the same time decreasing nonperforming loans and nonperforming assets. In addition, we announced our sixth and seventh expansion opportunities within the last 12 months with the entry into the banking market of Montgomery, Alabama and the pending expansion of our wealth management operations.”

Net interest income was $32,607,000 for the second quarter of 2011, a 4.86% increase compared to the first quarter of 2011 and a 37.70% increase from the second quarter of 2010. The increase in net interest income during the second quarter of 2011 compared to the same period in 2010 is due to the net interest income from the FDIC-assisted acquisitions of Crescent Bank & Trust Company and American Trust Bank, both of which were completed subsequent to the second quarter of 2010. Net interest margin was 3.76% for the second quarter of 2011 as compared to 3.55% for the first quarter of 2011 and 3.15% for the second quarter of 2010.

“Our improvement in net interest income and net interest margin was largely driven by our continued strategic efforts to restructure our funding mix and deploy cash into higher yielding alternatives. We expect these strategic efforts, coupled with our anticipated future loan growth, to result in further improvement in net interest income and net interest margin during future quarters,” stated McGraw.

The Company’s noninterest income continues to be derived primarily from multiple lines of recurring income which include but are not limited to wealth management, treasury management, insurance and mortgage along with income from deposit and loan products. Noninterest income was $13,349,000 for the second quarter of 2011 as compared to $21,765,000 for the first quarter of 2011 and $14,344,000 for the second quarter of 2010. Noninterest income for the first quarter of 2011 included a bargain purchase gain of $8,774,000 while noninterest income for the second quarter of 2010 included a gain of $2,049,000 from the sale of securities. Excluding these items, which are nonrecurring in nature, noninterest income for the first quarter of 2011 was $12,991,000 and noninterest income for the second quarter of 2010 was $12,295,000.

Noninterest expense was $32,555,000 for the second quarter of 2011 as compared to $36,723,000 for the first quarter of 2011 and $26,188,000 for the second quarter of 2010. The increase in noninterest expense during the second quarter of 2011 compared to the same period in 2010 is primarily due to the operations acquired in the FDIC-assisted acquisitions. Furthermore, noninterest expense for the first quarter of 2011 included expenses related to the early extinguishment of debt and American Trust acquisition-related expenses.

At June 30, 2011, the Company’s Tier 1 leverage capital ratio was 9.10%, its Tier 1 risk-based capital ratio was 13.58%, and its total risk-based capital ratio was 14.83%. The Company’s tangible common equity ratio was 7.11%. In all capital ratio categories, the Company’s regulatory capital ratios increased and continue to be in excess of regulatory minimums required to be classified as “well-capitalized.”

Total assets as of June 30, 2011 were approximately $4.260 billion, down slightly from December 31, 2010. Total deposits were $3.477 billion at June 30, 2011 compared to $3.468 billion at December 31, 2010. The Company continued to focus on changing its deposit mix by replacing higher-costing deposits with lower-costing retail deposits. As a result of this focus, the Company’s cost of funds was 1.17% for the second quarter of 2011 as compared to 1.31% for the first quarter of 2011 and 1.86% for the second quarter of 2010.

Total loans, which include both loans covered and not covered under FDIC loss-share agreements, were approximately $2.563 billion at the end of the second quarter of 2011 as compared to $2.577 billion at March 31, 2011 and $2.524 billion at December 31, 2010.

Loans not covered under FDIC loss-share agreements were $2.185 billion at June 30, 2011 as compared to $2.190 billion at March 31, 2011 and $2.191 billion at December 31, 2010.

The loans and other real estate owned acquired in FDIC-assisted transactions are recorded at fair value which includes an estimated impairment. Furthermore, the loss-share agreements with the FDIC, as well as adjustments to the balances of these acquired assets to record them at fair value, mitigate the impact of further losses on these assets. Nonperforming loans and other real estate owned covered under loss-share agreements totaled $89.4 million and $59.8 million, respectively, at June 30, 2011. The remaining information in this release on nonperforming loans, other real estate owned and the related asset quality ratios exclude the assets covered under loss-share agreements.

The Company recorded a provision for loan losses of $5,350,000 for the second quarter of 2011 as compared to $5,500,000 for the first quarter of 2011 and $7,000,000 for the second quarter of 2010. Annualized net charge-offs as a percentage of average loans were 0.82% for the second quarter of 2011 as compared to 0.54% for the first quarter of 2011 and 0.80% for the fourth quarter of 2010. The allowance for loan losses as a percentage of loans was 2.18% at June 30, 2011 as compared to 2.17% at March 31, 2011 and 2.07% at December 31, 2010.

The Company’s nonperforming loans were $51,977,000 at June 30, 2011 as compared to $57,245,000 at March 31, 2011 and $53,858,000 at December 31, 2010. Loans 30 to 89 days past due as a percent of total loans were 0.80% at June 30, 2011 as compared to 0.86% at March 31, 2011 and 0.98% at December 31, 2010.

Other real estate owned was $68.4 million at June 30, 2011 as compared to $71.4 million at March 31, 2011 and $71.8 million at December 31, 2010. During the second quarter, the Company sold a total of approximately $7.4 million in other real estate owned.

During the second quarter of 2011, the Company announced that it entered into an agreement to acquire RBC Bank (USA)’s Birmingham-based $680 million asset trust division. The transaction is expected to close during the third quarter of 2011.

On July 1, 2011, the Company announced its entrance into the banking market of Montgomery, Alabama through its hiring of an established banking team. The entry into Montgomery adds to Renasant’s current Alabama footprint of multiple full-service locations in Birmingham, Huntsville, Decatur and Madison which has over $600 million in assets. The Montgomery market entrance is Renasant’s seventh expansion and the third in Alabama over the past 12 months.

“We expect a strong second half of 2011 as we build on the momentum of our increase in net interest margin, capital ratios and net interest income during the second quarter,” stated McGraw. “Over the past 12 months, we have taken advantage of many opportunities to improve our profitability and expand our footprint throughout the southeast and we look to capitalize on future growth opportunities as they become available.”

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM EST on Wednesday, July 20, 2011.

The webcast can be accessed through Renasant’s investor relations website at www.renasant.com or https://services.choruscall.com/links/rnst110720.html#. To access the conference via telephone, dial 1-877-317-6789 in the United States and request the Renasant Corporation Second Quarter 2011 Earnings Webcast and Conference Call. International participants should dial 1-412-317-6789 to access the conference call.

The webcast will be archived on www.renasant.com beginning one hour after the call and will remain accessible for one year. Replays can also be accessed via telephone by dialing 1-877-344-7529 in the United States and entering conference number 10001968 or by dialing 1-412-317-0088 internationally and entering the conference number. Telephone replay access is available until 9:00 AM EST on July 20, 2012.

ABOUT RENASANT CORPORATION:

Renasant Corporation, a 107-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $4.3 billion and operates over 75 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.

NOTE TO INVESTORS:

This news release may contain, or incorporate by reference, statements which may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking statements usually include words such as “expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,” “strategy,” “plan,” “potential,” “possible” and other similar expressions.

Prospective investors are cautioned that any such forward-looking statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, significant underperformance in our portfolio of outstanding loans, and competition in our markets. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

###

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


																			Q2 2011-			For the Six Months
	2011						2010												Q2 2010 Percent Variance			Ended June 30,
	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Q2 2010 Percent Variance			2011			2010			Percent Variance
Statement of earnings
Interest income-taxable equivalent basis	$	45,267		$	45,371		$	45,224		$	44,770		$	39,590		$	40,900			14.34		$	90,638		$	80,490			12.61

Interest income	$	43,760		$	43,803		$	43,817		$	43,433		$	38,381		$	39,708			14.02		$	87,563		$	78,089			12.13
Interest expense		11,153			12,707			13,962			16,316			14,701			15,298			(24.13	)		23,860			29,999			(20.46	)

Net interest income		32,607			31,096			29,855			27,117			23,680			24,410			37.70			63,703			48,090			32.47

Provision for loan losses		5,350			5,500			5,500			11,500			7,000			6,665			(23.57	)		10,850			13,665			(20.60	)

Net interest income after provision		27,257			25,596			24,355			15,617			16,680			17,745			63.41			52,853			34,425			53.53

Service charges on deposit accounts		5,082			4,880			5,482			5,771			5,361			5,090			(5.20	)		9,962			10,451			(4.68	)
Fees and commissions on loans and deposits		4,548			4,138			4,184			3,654			3,409			3,721			33.41			8,686			7,130			21.82
Insurance commissions and fees		783			832			916			828			830			834			(5.66	)		1,615			1,664			(2.94	)
Trust revenue		650			613			626			562			632			584			2.85			1,263			1,216			3.87
Securities (losses) gains		(243	)		12			—			(1,009	)		2,049			(160	)		(111.86	)		(231	)		1,889			(112.23	)
Gain on sale of mortgage loans		949			1,151			2,127			1,774			994			1,329			(4.53	)		2,100			2,323			(9.60	)
Gain on acquisition		—			8,774			—			42,211			—			—			—			8,774			—			—
Other		1,580			1,365			1,218			743			1,069			1,086			47.80			2,945			2,155			36.66

Total non-interest income		13,349			21,765			14,553			54,534			14,344			12,484			(6.94	)		35,114			26,828			30.89

Salaries and employee benefits		16,173			16,237			15,957			16,694			13,052			13,197			23.91			32,410			26,249			23.47
Occupancy and equipment		3,357			3,239			2,716			3,271			2,926			2,931			14.73			6,596			5,857			12.62
Data processing		1,657			1,788			1,665			1,703			1,580			1,426			4.87			3,445			3,006			14.60
Debt extinguishment penalty		—			1,903			—			2,785			—			—			—			1,903			—			—
Merger-related expenses		—			1,325			—			1,955			—			—			—			1,325			—			—
Other real estate expenses		2,122			3,511			3,288			4,635			959			736			121.27			5,633			1,695			232.33
Amortization of intangibles		510			515			523			505			470			476			8.51			1,025			946			8.35
Other		8,736			8,205			8,077			8,023			7,201			6,868			21.32			16,941			14,069			20.41

Total non-interest expense		32,555			36,723			32,226			39,571			26,188			25,634			24.31			69,278			51,822			33.68

Income before income taxes		8,051			10,638			6,682			30,580			4,836			4,595			66.49			18,689			9,431			98.17
Income taxes		2,294			3,085			1,961			11,029			1,040			988			120.58			5,379			2,028			165.24

Net income	$	5,757		$	7,553		$	4,721		$	19,551		$	3,796		$	3,607			51.67		$	13,310		$	7,403			79.80

Basic earnings per share	$	0.23		$	0.30		$	0.19		$	0.81		$	0.18		$	0.17			27.78		$	0.53		$	0.35			51.43
Diluted earnings per share		0.23			0.30			0.19			0.81			0.18			0.17			27.78			0.53			0.35			51.43

Average basic shares outstanding		25,059,081			25,052,126			25,042,137			24,098,629			21,088,942			21,082,991			18.83			25,055,623			21,085,983			18.83
Average diluted shares outstanding		25,182,503			25,172,410			25,177,394			24,208,642			21,224,836			21,208,934			18.65			25,183,215			21,219,662			18.68

Common shares outstanding		25,061,068			25,056,431			25,043,112			25,041,540			21,100,130			21,082,991			18.77			25,061,068			21,100,130			18.77
Cash dividend per common share	$	0.17		$	0.17		$	0.17		$	0.17		$	0.17		$	0.17			—		$	0.34		$	0.34			—

Performance ratios
Return on average shareholders’ equity		4.84	%		6.51	%		3.93	%		16.64	%		3.69	%		3.55	%					5.67	%		3.62	%
Return on average shareholders’ equity, excluding amortization expense		5.11	%		6.78	%		4.20	%		16.91	%		3.97	%		3.84	%					5.94	%		3.90	%
Return on average assets		0.54	%		0.69	%		0.44	%		1.83	%		0.42	%		0.40	%					0.62	%		0.41	%
Return on average assets, excluding amortization expense		0.57	%		0.72	%		0.47	%		1.86	%		0.45	%		0.44	%					0.65	%		0.45	%

Net interest margin (FTE)		3.76	%		3.55	%		3.43	%		3.12	%		3.15	%		3.27	%					3.65	%		3.21	%
Yield on earning assets (FTE)		4.99	%		4.93	%		4.97	%		4.92	%		5.02	%		5.23	%					4.95	%		5.13	%
Cost of funding		1.17	%		1.31	%		1.49	%		1.75	%		1.86	%		1.95	%					1.25	%		1.91	%
Average earning assets to average assets		84.75	%		84.16	%		84.24	%		84.78	%		87.42	%		87.28	%					84.66	%		87.37	%
Average loans to average deposits		72.75	%		70.20	%		74.57	%		76.41	%		84.53	%		88.47	%					71.48	%		86.47	%
Noninterest income (less securities gains/losses) to average assets		1.27	%		1.99	%		1.35	%		5.19	%		1.36	%		1.42	%					1.64	%		1.39	%
Noninterest expense to average assets		3.04	%		3.37	%		2.98	%		3.70	%		2.90	%		2.87	%					3.21	%		2.89	%
Net overhead ratio		1.77	%		1.37	%		1.64	%		-1.49	%		1.54	%		1.45	%					1.57	%		1.50	%
Efficiency ratio (FTE)		68.59	%		67.47	%		70.34	%		47.68	%		66.75	%		67.31	%					67.99	%		67.02	%

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


																			Q2 2011-			For the Six Months
	2011						2010												Q2 2010			Ended June 30,
	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Percent Variance			2011			2010			Percent Variance
Average balances
Total assets	$	4,294,530		$	4,423,088		$	4,285,887		$	4,246,566		$	3,616,125		$	3,621,361			18.76		$	4,355,810		$	3,617,888			20.40
Earning assets		3,639,696			3,722,419			3,610,526			3,600,033			3,161,214			3,160,620			15.14			3,687,507			3,160,918			16.66
Securities		863,735			881,808			785,613			729,789			734,690			697,913			17.56			872,701			716,403			21.82
Loans, net of unearned		2,575,890			2,556,572			2,576,721			2,533,567			2,304,663			2,354,443			11.77			2,572,980			2,329,415			10.46
Intangibles		191,320			191,740			192,123			192,447			190,639			190,881			0.36			191,529			190,875			0.34

Non-interest bearing deposits	$	468,170		$	476,115		$	371,908		$	351,449		$	315,242		$	310,726			48.51		$	472,116		$	312,878			50.89
Interest bearing deposits		3,072,809			3,148,481			3,053,382			2,929,739			2,387,175			2,332,741			28.72			3,110,450			2,360,108			31.79
Total deposits		3,540,979			3,624,596			3,425,290			3,281,188			2,702,417			2,643,467			31.03			3,582,566			2,672,986			34.03
Borrowed funds		261,060			290,201			318,873			438,047			468,196			530,654			(44.24	)		275,550			499,252			(44.81	)
Shareholders’ equity		476,896			470,875			476,449			466,109			412,959			412,132			15.48			473,541			412,589			14.77

Asset quality data
Assets not subject to loss share:
Nonaccrual loans	$	42,331		$	46,406		$	46,662		$	56,674		$	53,868		$	44,688			(21.42	)	$	42,331		$	53,868			(21.42	)
Loans 90 past due or more		9,646			10,839			7,196			8,923			10,794			9,916			(10.64	)		9,646			10,794			(10.64	)

Non-performing loans		51,977			57,245			53,858			65,597			64,662			54,604			(19.62	)		51,977			64,662			(19.62	)
Other real estate owned and repossessions		68,384			71,415			71,833			62,936			66,797			62,508			2.38			68,384			66,797			2.38

Non-performing assets	$	120,361		$	128,660		$	125,691		$	128,533		$	131,459		$	117,112			(8.44	)	$	120,361		$	131,459			(8.44	)


Assets subject to loss share:
Nonaccrual loans	$	78,780		$	78,909		$	82,393		$	67,135		$	—		$	—			—		$	78,780		$	—			—
Loans 90 past due or more		10,619			7,817			—			—			—			—			—			10,619			—			—

Non-performing loans subject to loss share		89,399			86,726			82,393			67,135			—			—			—			89,399			—			—
Other real estate owned and repossessions		59,802			59,036			54,715			49,286			—			—			—			59,802			—			—

Non-performing assets subject to loss share	$	149,201		$	145,762		$	137,108		$	116,421		$	—		$	—			—		$	149,201		$	—			—


Net loan charge-offs (recoveries)	$	5,284		$	3,410		$	5,217		$	7,514		$	6,948		$	4,716			(23.95	)	$	8,694		$	11,664			(25.46	)
Allowance for loan losses		47,571			47,505			45,415			45,132			41,146			41,094			15.62			47,571			41,146			15.62

Non-performing loans / total loans*		2.38	%		2.61	%		2.46	%		2.94	%		2.86	%		2.37	%					2.38	%		2.86	%
Non-performing assets / total assets*		2.83	%		2.91	%		2.92	%		3.02	%		3.66	%		3.22	%					2.83	%		3.66	%
Allowance for loan losses / total loans*		2.18	%		2.17	%		2.07	%		2.02	%		1.82	%		1.78	%					2.18	%		1.82	%
Allowance for loan losses / non-performing loans*		91.52	%		82.99	%		84.32	%		68.80	%		63.63	%		75.26	%					91.52	%		63.63	%
Annualized net loan charge-offs / average loans*		0.82	%		0.54	%		0.80	%		1.18	%		1.21	%		0.81	%					0.68	%		1.01	%

Balances at period end
Total assets	$	4,259,200		$	4,422,164		$	4,297,327		$	4,256,253		$	3,593,872		$	3,641,709			18.51		$	4,259,200		$	3,593,872			18.51
Earning assets		3,585,441			3,724,108			3,631,730			3,600,972			3,156,451			3,200,159			13.59			3,585,441			3,156,451			13.59
Securities		833,710			880,382			834,472			745,486			721,640			741,207			15.53			833,710			721,640			15.53
Mortgage loans held for sale		11,511			9,399			27,704			25,639			21,261			16,597			(45.86	)		11,511			21,261			(45.86	)
Loans not subject to loss share		2,185,490			2,190,376			2,190,909			2,231,075			2,263,263			2,308,335			(3.44	)		2,185,490			2,263,263			(3.44	)
Loans subject to loss share		377,149			386,811			333,681			352,535			—			—			—			377,149			—			—

Total loans		2,562,639			2,577,187			2,524,590			2,583,610			2,263,263			2,308,335			13.23			2,562,639			2,263,263			13.23
Intangibles		191,086			191,581			191,867			192,391			190,411			190,881			0.35			191,086			190,411			0.35

Non-interest bearing deposits	$	458,686		$	486,676		$	368,798		$	361,504		$	313,309		$	315,064			46.40		$	458,686			313,309			46.40
Interest bearing deposits		3,018,733			3,158,198			3,099,353			3,054,424			2,374,903			2,398,784			27.11			3,018,733			2,374,903			27.11

Total deposits		3,477,419			3,644,874			3,468,151			3,415,928			2,688,212			2,713,848			29.36			3,477,419			2,688,212			29.36
Borrowed funds		263,067			260,149			316,436			322,245			459,762			483,183			(42.78	)		263,067			459,762			(42.78	)
Shareholders’ equity		480,135			473,354			469,509			477,034			412,235			410,557			16.47			480,135			412,235			16.47

Market value per common share	$	14.49		$	16.98		$	16.91		$	15.21		$	14.35		$	16.18			0.98		$	14.49		$	14.35			0.98
Book value per common share		19.16			18.89			18.75			19.05			19.54			19.47			(1.94	)		19.16			19.54			(1.94	)
Tangible book value per common share		11.53			11.25			11.09			11.37			10.51			10.42			9.71			11.53			10.51			9.71
Shareholders’ equity to assets (actual)		11.27	%		10.70	%		10.93	%		11.21	%		11.47	%		11.27	%					11.27	%		11.47	%
Tangible capital ratio		7.11	%		6.66	%		6.76	%		7.00	%		6.52	%		6.37	%					7.11	%		6.52	%

Leverage ratio		9.10	%		8.77	%		8.97	%		9.03	%		8.78	%		8.74	%					9.10	%		8.78	%
Tier 1 risk-based capital ratio		13.58	%		13.59	%		13.58	%		13.55	%		11.42	%		11.20	%					13.58	%		11.42	%
Total risk-based capital ratio		14.83	%		14.84	%		14.83	%		14.80	%		12.67	%		12.45	%					14.83	%		12.67	%

*Based on assets not subject to loss share

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


													Q2 2011-			For the Six Months
	2011				2010								Q2 2010			Ended June 30,
	Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Percent Variance			2011		2010		Percent Variance
Loans not subject to loss share by category
Commercial, financial, agricultural	$	243,343	$	250,889	$	244,355	$	259,710	$	273,356	$	276,749		(10.98	)	$	243,343	$	273,356		(10.98	)
Lease financing		393		458		503		547		601		677		(34.61	)		393		601		(34.61	)
Real estate-construction		77,224		71,559		66,798		62,593		62,469		110,121		23.62			77,224		62,469		23.62
Real estate-1-4 family mortgages		720,451		730,860		749,863		770,773		798,185		809,271		(9.74	)		720,451		798,185		(9.74	)
Real estate-commercial mortgages		1,081,801		1,073,561		1,065,271		1,072,484		1,071,876		1,055,102		0.93			1,081,801		1,071,876		0.93
Installment loans to individuals		62,278		63,049		64,119		64,968		56,776		56,415		9.69			62,278		56,776		9.69

Loans, net of unearned	$	2,185,490	$	2,190,376	$	2,190,909	$	2,231,075	$	2,263,263	$	2,308,335		(3.44	)	$	2,185,490	$	2,263,263		(3.44	)

Loans subject to loss share by category
Commercial, financial, agricultural	$	24,233	$	22,964	$	20,921	$	22,543	$	—	$	—		—		$	24,233	$	—		—
Lease financing		—		—		—		—		—		—		—			—		—		—
Real estate-construction		10,318		13,847		15,563		17,385		—		—		—			10,318		—		—
Real estate-1-4 family mortgages		119,508		123,770		122,519		138,863		—		—		—			119,508		—		—
Real estate-commercial mortgages		222,876		226,038		174,572		172,145		—		—		—			222,876		—		—
Installment loans to individuals		214		192		106		1,599		—		—		—			214		—		—

Loans, net of unearned	$	377,149	$	386,811	$	333,681	$	352,535	$	—	$	—		—		$	377,149	$	—		—

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