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

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Exhibit 99.1

LOGO


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

RENASANT CORPORATION ANNOUNCES

2012 SECOND QUARTER EARNINGS

TUPELO, MISSISSIPPI (July 17, 2012) — Renasant Corporation (NASDAQ: RNST) (the “Company”) today announced its financial results for the second quarter of 2012. Net income for the second quarter of 2012 was $6,345,000, or basic and diluted earnings per share of $0.25, as compared to $5,757,000, or basic and diluted earnings per share of $0.23, for the second quarter of 2011.

“During the second quarter of 2012 we continued to execute our plan of driving improvement in key areas which should result in sustained long-term profitability. Our second quarter financial results as compared to the same period in 2011 reflects significant growth in loans and noninterest-bearing deposits, a 22 basis point increase in net interest margin, and a 31% increase in noninterest income,” commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. “In addition, we continued to experience significant improvement in our credit quality metrics as our nonperforming loans and nonperforming assets not covered by loss-

share agreements with the FDIC decreased by 42% and 27%, respectively, as compared to the same period in 2011.”

Total assets as of June 30, 2012, were approximately $4.112 billion, down slightly from December 31, 2011. The Company’s Tier 1 leverage capital ratio was 9.68%, its Tier 1 risk-based capital ratio was 13.14%, and its total risk-based capital ratio was 14.39%. The Company’s tangible common equity ratio was 7.65%. All of the Company’s regulatory capital ratios continued to be in excess of the regulatory minimums required to be classified as “well-capitalized.”

Total loans, which include both loans covered and not covered under FDIC loss-share agreements, were approximately $2.682 billion at June 30, 2012, as compared to $2.563 billion at June 30, 2011, and $2.581 billion at December 31, 2011. Loans not covered under FDIC loss-share agreements were $2.392 billion at June 30, 2012, an increase of 9.5% from June 30, 2011, and 6.7% from December 31, 2011.

“Our annualized loan growth rate of 19.35% during the second quarter of 2012 represents one of the largest percentage increases in loans for a single quarter in the history of our company. Furthermore, we are particularly pleased that each region within our footprint contributed to this growth, which represents our 4th consecutive quarter of net loan growth. With the contribution of each region and the additional loan volume from our de novo operations, we expect net loan growth to remain strong in future quarters,” said McGraw.

Total deposits were $3.406 billion at June 30, 2012, as compared to $3.477 billion at June 30, 2011, and $3.412 billion at December 31, 2011. Noninterest-bearing deposits increased $81

million, or 18%, at June 30, 2012, as compared to the same period in 2011 and increased $7.3 million, or 1%, from December 31, 2011. This continued growth in noninterest-bearing deposits, coupled with reductions in borrowed funds, reduced the Company’s cost of funds 43 basis points to 0.74% for the second quarter of 2012, as compared to 1.17% for the second quarter of 2011.

Net interest income increased to $33,410,000 for the second quarter of 2012, from $32,622,000 for the second quarter of 2011. Net interest margin was 3.98% for the second quarter of 2012, as compared to 3.76% for the second quarter of 2011.

“The current interest rate environment continues to put pressure on all financial institutions’ ability to grow net interest income and net interest margin. Despite this pressure, we have continued to increase our net interest income and net interest margin through the restructuring of our funding mix and through the deployment of cash into higher yielding alternatives,” stated McGraw.

Noninterest income was $16,238,000, up 30.7%, for the second quarter of 2012, as compared to $12,423,000 for the second quarter of 2011. Contributing to this year-over-year increase in noninterest income was strong growth in mortgage production and an increase in wealth management income primarily due to the additional revenue from the trust acquisition in the third quarter of 2011. Also in the Company’s second quarter 2012 noninterest income was a gain of $869,000 resulting from the sale of securities, as compared to a loss of $258,000 in the second quarter of 2011. The Company sold securities in the second quarter of 2012 because the effective yield had significantly declined as a result of accelerated prepayments. The proceeds from the sale of these securities were primarily deployed to fund the Company’s loan growth.

Noninterest expense was $36,710,000 for the second quarter of 2012, as compared to $31,644,000 for the second quarter of 2011. This increase in noninterest expense during the second quarter of 2012, as compared to the second quarter of 2011, is primarily attributable to the additional personnel and facilities costs from the recent de novo branching activities, the previously-disclosed trust acquisition, expenses related to mortgage production, and higher health insurance costs.

The Company’s loans and other real estate owned acquired in FDIC-assisted transactions are recorded at fair value. 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 $65.6 million and $37.9 million, respectively, at June 30, 2012, combining for a decrease of approximately 31% in nonperforming assets subject to FDIC loss-share agreements from June 30, 2011, and a decrease of approximately 22% from December 31, 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.

Nonperforming loans declined to $29.9 million at June 30, 2012, as compared to $51.9 million at June 30, 2011, and $34.9 million at December 31, 2011. Loans 30 to 89 days past due as a percentage of total loans were 0.60% as of June 30, 2012, as compared to 0.80% as of June 30, 2011, and 0.71% as of December 31, 2011.

The Company’s coverage ratio, or its allowance for loan losses as a percentage of nonperforming loans, was 149.45% as of June 30, 2012, as compared to 91.52% as of June 30, 2011, and 127.00% as of December 31, 2011.

The Company recorded a provision for loan losses of $4,700,000 for the second quarter of 2012, as compared to $5,350,000 for the second quarter of 2011. Annualized net charge-offs as a percentage of average loans were 0.62% for the second quarter of 2012, as compared to 0.82% for the second quarter of 2011, and 1.56% for the fourth quarter of 2011. The allowance for loan losses as a percentage of loans was 1.87% at June 30, 2012, as compared to 2.18% at June 30, 2011, and 1.98% at December 31, 2011.

Other real estate owned was $58.4 million at June 30, 2012, as compared to $68.4 million at June 30, 2011, and $70.1 million at December 31, 2011. During the second quarter, the Company sold a total of approximately $7.3 million in other real estate owned and currently has approximately $8.4 million under contract to sell during the third quarter of 2012.

“We continued to capitalize on opportunities in new markets as we entered into the Eastern Tennessee banking market via de novo branching and broke ground on our new Starkville, Mississippi location during the second quarter of 2012,” stated McGraw. “Overall, the positive trends we are experiencing in loan growth, change in our funding mix, increases in net interest income and margin, increases in mortgage revenue, as well as a decrease in non-performing assets, have us well positioned for what we believe will be a strong second half of 2012.”

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 AM Eastern on Wednesday, July 18, 2012.

The webcast can be accessed through Renasant’s investor relations website at www.renasant.com or https://services.choruscall.com/links/rnst120718.html. To access the conference via telephone, dial 1-877-317-6789 in the United States and request the Renasant Corporation Second Quarter 2012 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 10016155 or by dialing 1-412-317-0088 internationally and entering the conference number. Telephone replay access is available until 9:00 AM Eastern on July 18, 2013.

ABOUT RENASANT CORPORATION:

Renasant Corporation, a 108-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $4.1 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 2012 - Q2 2011 Percent			For the Six Months
	2012						2011															Ended June 30,
	Second			First			Fourth			Third			Second			First												Percent
	Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Variance			2012			2011			Variance
Statement of earnings

Interest income - taxable equivalent basis	$	41,487		$	42,001		$	42,430		$	43,432		$	45,291		$	45,371			(8.40	)	$	83,488		$	90,662			(7.91	)

Interest income	$	39,978		$	40,505		$	40,970		$	41,930		$	43,775		$	43,803			(8.67	)	$	80,483		$	87,578			(8.10	)
Interest expense		6,568			7,662			8,475			9,066			11,153			12,707			(41.11	)		14,230			23,860			(40.36	)

Net interest income		33,410			32,843			32,495			32,864			32,622			31,096			2.42			66,253			63,718			3.98

Provision for loan losses		4,700			4,800			6,000			5,500			5,350			5,500			(12.15	)		9,500			10,850			(12.44	)

Net interest income after provision		28,710			28,043			26,495			27,364			27,272			25,596			5.27			56,753			52,868			7.35

Service charges on deposit accounts		4,495			4,525			4,527			4,797			5,082			4,880			(11.55	)		9,020			9,962			(9.46	)
Fees and commissions on loans and deposits		4,322			3,928			3,794			3,354			3,147			2,964			37.34			8,250			6,111			35.00
Insurance commissions and fees		842			898			812			847			783			832			7.54			1,740			1,615			7.74
Wealth management revenue		1,551			1,942			1,526			1,145			1,140			1,057			36.05			3,493			2,197			58.99
Securities gains (losses)		869			904			—			5,041			(258	)		12			(436.82	)		1,773			(246	)		(820.73	)
Gain on sale of mortgage loans		2,390			1,281			662			1,371			949			1,151			151.84			3,671			2,100			74.81
Gain on acquisition		—			—			—			570			—			8,774			—			—			8,774			(100.00	)
Other		1,769			2,909			1,686			1,318			1,580			1,365			11.96			4,678			2,945			58.85

Total noninterest income		16,238			16,387			13,007			18,443			12,423			21,035			30.71			32,625			33,458			(2.49	)

Salaries and employee benefits		19,871			18,649			16,232			17,493			16,173			16,237			22.87			38,520			32,410			18.85
Occupancy and equipment		3,582			3,615			3,522			3,434			3,357			3,218			6.70			7,197			6,575			9.46
Data processing		2,211			2,040			1,925			1,927			1,657			1,788			33.43			4,251			3,445			23.40
Debt extinguishment penalty		—			898			—			—			—			1,903			—			898			1,903			(52.81	)
Merger-related expenses		—			—			—			326			—			1,325			—			—			1,325			(100.00	)
Other real estate		3,370			3,999			3,357			6,336			2,122			3,511			58.81			7,369			5,633			30.82
Amortization of intangibles		349			358			366			351			510			515			(31.57	)		707			1,025			(31.02	)
Other		7,327			7,062			6,962			7,092			7,825			7,496			(6.36	)		14,389			15,321			(6.08	)

Total noninterest expense		36,710			36,621			32,364			36,959			31,644			35,993			16.01			73,331			67,637			8.42

Income before income taxes		8,238			7,809			7,138			8,848			8,051			10,638			(22.56	)		16,047			18,689			(14.14	)
Income taxes		1,893			1,835			1,348			2,316			2,294			3,085			(17.48	)		3,728			5,379			(30.69	)

Net income	$	6,345		$	5,974		$	5,790		$	6,532		$	5,757		$	7,553			10.21		$	12,319		$	13,310			(7.45	)


Basic earnings per share	$	0.25		$	0.24		$	0.23		$	0.26		$	0.23		$	0.30			8.70		$	0.49		$	0.53			(7.55	)
Diluted earnings per share		0.25			0.24			0.23			0.26			0.23			0.30			8.70			0.49			0.53			(7.55	)

Average basic shares outstanding		25,110,709			25,078,996			25,061,122			25,061,068			25,059,081			25,052,126			0.21			25,094,852			25,055,623			0.16
Average diluted shares outstanding		25,149,360			25,138,213			25,183,114			25,180,923			25,182,503			25,172,410			(0.13	)		25,144,134			25,183,215			(0.16	)

Common shares outstanding		25,113,894			25,105,732			25,066,068			25,061,068			25,061,068			25,056,431			0.21			25,113,894			25,061,068			0.21
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		5.19	%		4.88	%		4.71	%		5.36	%		4.84	%		6.51	%					5.03	%		5.67	%
Return on average shareholders’ equity, excluding amortization expense		5.36	%		5.06	%		4.89	%		5.54	%		5.11	%		6.78	%					5.21	%		5.94	%
Return on average assets		0.62	%		0.57	%		0.55	%		0.63	%		0.54	%		0.69	%					0.59	%		0.62	%
Return on average assets, excluding amortization expense		0.64	%		0.59	%		0.57	%		0.65	%		0.57	%		0.72	%					0.61	%		0.65	%

Net interest margin (FTE)		3.98	%		3.85	%		3.84	%		3.92	%		3.76	%		3.55	%					3.92	%		3.65	%
Yield on earning assets (FTE)		4.73	%		4.71	%		4.80	%		4.96	%		4.99	%		4.93	%					4.72	%		4.96	%
Cost of funding		0.74	%		0.84	%		0.92	%		0.99	%		1.17	%		1.31	%					0.79	%		1.25	%
Average earning assets to average assets		85.39	%		84.88	%		84.22	%		83.95	%		84.75	%		84.16	%					85.13	%		84.66	%
Average loans to average deposits		76.89	%		75.45	%		75.83	%		76.23	%		72.47	%		70.20	%					76.17	%		71.48	%

Noninterest income (less securities gains/losses) to average assets		1.50	%		1.47	%		1.24	%		1.28	%		1.18	%		1.93	%					1.49	%		1.56	%
Noninterest expense to average assets		3.58	%		3.49	%		3.08	%		3.54	%		2.96	%		3.30	%					3.53	%		3.13	%
Net overhead ratio		2.08	%		2.01	%		1.84	%		2.26	%		1.77	%		1.37	%					2.05	%		1.57	%
Efficiency ratio (FTE)		71.76	%		72.19	%		68.92	%		69.99	%		67.96	%		67.03	%					71.98	%		67.46	%

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


																			Q2 2012 -			For the Six Months
	2012						2011												Q2 2011			Ended June 30,
	Second			First			Fourth			Third			Second			First			Percent									Percent
	Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Variance			2012			2011			Variance
Average balances
Total assets	$	4,123,373		$	4,222,376		$	4,172,518		$	4,142,851		$	4,294,530		$	4,423,088			(3.99	)	$	4,172,848		$	4,355,810			(4.20	)
Earning assets		3,521,099			3,583,957			3,514,110			3,478,054			3,639,696			3,722,419			(3.26	)		3,552,528			3,687,507			(3.66	)
Securities		793,353			813,826			745,398			796,957			863,735			881,808			(8.15	)		803,589			872,701			(7.92	)
Loans, net of unearned		2,647,321			2,614,000			2,594,820			2,577,539			2,575,890			2,556,572			2.77			2,630,660			2,572,980			2.24
Intangibles		191,788			192,429			192,611			191,574			191,320			191,740			0.24			191,964			191,529			0.23

Noninterest-bearing deposits	$	531,209		$	534,867		$	523,807		$	480,699		$	468,170		$	476,115			13.46		$	533,038		$	472,116			12.90
Interest-bearing deposits		2,886,878			2,897,750			2,854,146			2,880,248			3,072,809			3,148,481			(6.05	)		2,892,314			3,110,450			(7.01	)
Total deposits		3,418,087			3,432,617			3,377,953			3,360,947			3,540,979			3,624,596			(3.47	)		3,425,352			3,582,566			(4.39	)
Borrowed funds		168,856			238,937			260,672			259,387			261,060			290,201			(35.32	)		203,897			275,550			(26.00	)
Shareholders’ equity		492,164			492,092			487,752			483,121			476,896			470,875			3.20			492,164			473,541			3.93

Asset quality data
Assets not subject to loss share:
Nonaccrual loans	$	26,099		$	26,999		$	31,154		$	40,363		$	42,331		$	46,406			(38.35	)	$	26,099		$	42,331			(38.35	)
Loans 90 past due or more		3,864			3,435			3,760			8,674			9,646			10,839			(59.94	)		3,864			9,646			(59.94	)

Nonperforming loans not subject to loss share		29,963			30,434			34,914			49,037			51,977			57,245			(42.35	)		29,963			51,977			(42.35	)
Other real estate owned		58,384			64,931			70,079			72,765			68,384			71,415			(14.62	)		58,384			68,384			(14.62	)

Nonperforming assets not subject to loss share	$	88,347		$	95,365		$	104,993		$	121,802		$	120,361		$	128,660			(26.60	)	$	88,347		$	120,361			(26.60	)


Assets subject to loss share:
Nonaccrual loans	$	65,386		$	78,418		$	88,034		$	84,426		$	78,780		$	78,909			(17.00	)	$	65,386		$	78,780			(17.00	)
Loans 90 past due or more		199			1,397			1,134			12,222			10,619			7,817			(98.13	)		199			10,619			(98.13	)

Nonperforming loans subject to loss share		65,585			79,815			89,168			96,648			89,399			86,726			(26.64	)		65,585			89,399			(26.64	)
Other real estate owned		37,951			35,461			43,156			44,021			59,802			59,036			(36.54	)		37,951			59,802			(36.54	)

Nonperforming assets subject to loss share	$	103,536		$	115,276		$	132,324		$	140,669		$	149,201		$	145,762			(30.61	)	$	103,536		$	149,201			(30.61	)


Net loan charge-offs	$	4,097		$	4,964		$	10,192		$	4,539		$	5,284		$	3,410			(22.46	)	$	9,061		$	8,694			4.22
Allowance for loan losses		44,779			44,176			44,340			48,532			47,571			47,505			(5.87	)		44,779			47,571			(5.87	)

Nonperforming loans / total loans*		1.25	%		1.33	%		1.56	%		2.22	%		2.38	%		2.61	%					1.25	%		2.38	%
Nonperforming assets / total assets*		2.15	%		2.28	%		2.50	%		2.94	%		2.83	%		2.91	%					2.15	%		2.83	%
Allowance for loan losses / total loans*		1.87	%		1.94	%		1.98	%		2.20	%		2.18	%		2.17	%					1.87	%		2.18	%
Allowance for loan losses / nonperforming loans*		149.45	%		145.15	%		127.00	%		98.97	%		91.52	%		82.99	%					149.45	%		91.52	%
Annualized net loan charge-offs / average loans*		0.62	%		0.76	%		1.56	%		0.70	%		0.82	%		0.54	%					0.69	%		0.68	%

Balances at period end
Total assets	$	4,112,377		$	4,176,490		$	4,202,008		$	4,136,474		$	4,259,200		$	4,422,164			(3.45	)	$	4,112,377		$	4,259,200			(3.45	)
Earning assets		3,510,654			3,551,252			3,528,980			3,480,982			3,585,441			3,724,108			(2.09	)		3,510,654			3,585,441			(2.09	)
Securities		676,721			834,419			796,341			718,881			833,710			880,382			(18.83	)		676,721			833,710			(18.83	)
Mortgage loans held for sale		25,386			25,216			28,222			24,739			11,511			9,399			120.54			25,386			11,511			120.54
Loans not subject to loss share		2,392,349			2,281,957			2,241,622			2,204,955			2,185,490			2,190,376			9.47			2,392,349			2,185,490			9.47
Loans subject to loss share		289,685			318,089			339,462			359,813			377,149			386,811			(23.19	)		289,685			377,149			(23.19	)
Total loans		2,682,034			2,600,046			2,581,084			2,564,768			2,562,639			2,577,187			4.66			2,682,034			2,562,639			4.66
Intangibles		191,618			191,968			192,326			192,755			191,086			191,581			0.28			191,618			191,086			0.28

Noninterest-bearing deposits	$	539,237		$	535,955		$	531,910		$	493,130		$	458,686		$	486,676			17.56		$	539,237		$	458,686			17.56
Interest-bearing deposits		2,866,959			2,937,211			2,880,327			2,849,225			3,018,733			3,158,198			(5.03	)		2,866,959			3,018,733			(5.03	)
Total deposits		3,406,196			3,473,166			3,412,237			3,342,355			3,477,419			3,644,874			(2.05	)		3,406,196			3,477,419			(2.05	)
Borrowed funds		169,979			171,753			254,709			262,569			263,067			260,149			(35.39	)		169,979			263,067			(35.39	)
Shareholders’ equity		491,534			489,611			487,202			487,401			480,135			473,354			2.37			491,534			480,135			2.37

Market value per common share	$	15.71		$	16.28		$	15.00		$	12.73		$	14.49		$	16.98			8.42		$	15.71		$	14.49			8.42
Book value per common share		19.57			19.50			19.44			19.45			19.16			18.89			2.16			19.57			19.16			2.16
Tangible book value per common share		11.94			11.86			11.76			11.76			11.53			11.25			3.54			11.94			11.53			3.54
Shareholders’ equity to assets (actual)		11.95	%		11.72	%		11.59	%		11.78	%		11.27	%		10.70	%					11.95	%		11.27	%
Tangible capital ratio		7.65	%		7.47	%		7.35	%		7.47	%		7.11	%		6.66	%					7.65	%		7.11	%

Leverage ratio		9.68	%		9.38	%		9.44	%		9.48	%		9.10	%		8.77	%					9.68	%		9.10	%
Tier 1 risk-based capital ratio		13.14	%		13.32	%		13.32	%		13.63	%		13.58	%		13.59	%					13.14	%		13.58	%
Total risk-based capital ratio		14.39	%		14.58	%		14.58	%		14.89	%		14.83	%		14.84	%					14.39	%		14.83	%

*	Based on assets not subject to loss share

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


													Q2 2012 -			For the Six Months
	2012				2011								Q2 2011			Ended June 30,
	Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Percent Variance			2012		2011		Percent Variance
Loans not subject to loss share by category
Commercial, financial, agricultural	$	280,515	$	263,720	$	260,288	$	247,950	$	243,343	$	250,889		15.28		$	280,515	$	243,343		15.28
Lease financing		245		302		328		350		393		458		(37.66	)		245		393		(37.66	)
Real estate - construction		73,109		67,223		74,159		75,690		77,224		71,559		(5.33	)		73,109		77,224		(5.33	)
Real estate - 1-4 family mortgages		771,161		738,765		716,704		712,871		720,451		730,860		7.04			771,161		720,451		7.04
Real estate - commercial mortgages		1,208,057		1,153,423		1,130,143		1,106,037		1,081,801		1,073,561		11.67			1,208,057		1,081,801		11.67
Installment loans to individuals		59,262		58,524		60,000		62,057		62,278		63,049		(4.84	)		59,262		62,278		(4.84	)

Loans, net of unearned	$	2,392,349	$	2,281,957	$	2,241,622	$	2,204,955	$	2,185,490	$	2,190,376		9.47		$	2,392,349	$	2,185,490		9.47


Loans subject to loss share by category
Commercial, financial, agricultural	$	12,758	$	15,206	$	17,803	$	19,196	$	24,233	$	22,964		(47.35	)	$	12,758	$	24,233		(47.35	)
Lease financing		—		—		—		—		—		—		—			—		—		—
Real estate - construction		6,093		6,202		7,076		10,811		10,318		13,847		(40.95	)		6,093		10,318		(40.95	)
Real estate - 1-4 family mortgages		91,605		99,769		107,923		114,228		119,508		123,770		(23.35	)		91,605		119,508		(23.35	)
Real estate - commercial mortgages		179,160		196,754		206,492		215,370		222,876		226,038		(19.61	)		179,160		222,876		(19.61	)
Installment loans to individuals		69		158		168		208		214		192		(67.76	)		69		214		(67.76	)

Loans, net of unearned	$	289,685	$	318,089	$	339,462	$	359,813	$	377,149	$	386,811		(23.19	)	$	289,685	$	377,149		(23.19	)

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