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

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EXHIBIT 99.1

LOGO


Contact:	For Media:	For Financials:
	John Oxford	Kevin Chapman
	Vice President	Senior Executive Vice President
	Director of External Affairs	Chief Financial Officer
	(662) 680-1219	(662) 680-1450
	joxford@renasant.com	kchapman@renasant.com

RENASANT CORPORATION ANNOUNCES

2012 FOURTH QUARTER AND YEAR-END RESULTS

TUPELO, MISSISSIPPI (January 15, 2013) – Renasant Corporation (NASDAQ: RNST) (the “Company”) today announced its earnings results for the fourth quarter and year ended December 31, 2012. Net income for the fourth quarter of 2012 was $7.3 million as compared to $5.8 million for the fourth quarter of 2011. Basic and diluted earnings per share (EPS) were $0.29 for the fourth quarter of 2012, as compared to basic and diluted EPS of $0.23 for the fourth quarter of 2011. For the fourth quarter of 2012, net income and earnings per share were both up 26% as compared to the same period in 2011.

Net income for 2012 was $26.6 million as compared to $25.6 million for 2011. Both basic and diluted EPS were $1.06 for 2012 as compared to basic and diluted EPS of $1.02 for 2011. Net income and EPS for 2011 included pre-tax acquisition gains of $8.8 million in connection with the Company’s FDIC-assisted acquisition of American Bank and Trust of Roswell, Georgia, and

$570,000 associated with the Company’s acquisition of RBC’s Birmingham Trust operations. The Company did not record any acquisition-related gains in 2012.

“Our results for the fourth quarter of 2012 represent a strong finish to a successful year for Renasant as we experienced a 26% increase in EPS and net income as compared to the same period in 2011,” commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. “Contributing to this strong performance during the fourth quarter of 2012 as compared to the fourth quarter of 2011, we increased net interest margin by 13 basis points and grew both net interest income and noninterest income. Also, loans increased for the 6^th consecutive quarter. In addition, we continued to experience significant improvement in all of our major credit metrics throughout 2012.”

Total loans increased 9% to $2.810 billion at December 31, 2012, as compared to $2.581 billion at December 31, 2011. Loans not covered under FDIC loss-share agreements grew 15% to $2.573 billion at December 31, 2012, as compared to $2.242 billion at December 31, 2011.

Total deposits were $3.461 billion at December 31, 2012, as compared to $3.412 billion at December 31, 2011. The Company continued to improve its deposit mix as noninterest-bearing deposits grew 7% to approximately $568 million at December 31, 2012, as compared to the balance at December 31, 2011. Noninterest-bearing deposits now represent 17% of total average deposits for the fourth quarter of 2012, up from 16% of total average deposits for the fourth quarter of 2011. As a result of this continued improvement in funding mix, the Company’s cost of funds was 64 basis points for the fourth quarter of 2012 as compared to 92 basis points for the same quarter in 2011.

Total assets at December 31, 2012, were approximately $4.183 billion as compared to approximately $4.165 billion at September 30, 2012, and $4.202 billion at December 31, 2011.

At December 31, 2012, the Company’s tangible common equity ratio was 7.60%, Tier 1 leverage capital ratio was 9.86%, Tier 1 risk-based capital ratio was 12.85%, and total risk-based capital ratio was 14.13%. The Company’s capital ratios were all in excess of regulatory minimums required to be classified as “well-capitalized.” In addition, during 2012 and throughout the recent economic downturn, the Company maintained its annual dividend of $0.68, which equates to an approximate dividend yield of 3.50%.

Net interest income was $34.0 million for the fourth quarter of 2012 as compared to $32.6 million for the fourth quarter of 2011. Net interest margin was 3.97% for the fourth quarter of 2012, up 13 basis points, as compared to 3.84% for the fourth quarter of 2011.

Net interest income increased to $133.3 million for 2012 from $129.3 million for 2011. For 2012, net interest margin increased to 3.94% from 3.77% for 2011, or 17 basis points.

“The current interest rate and competitive banking environment continues to put pressure on any banking and financial service institution’s ability to grow net interest income and preserve net interest margin. Despite these pressures, we have grown net interest income and net interest margin on both a quarterly and year-over-year basis,” said McGraw. “As we continue our efforts to grow loans and improve our funding mix, we believe we will be able to increase net interest income while minimizing net interest margin compression.”

The Company’s noninterest income is derived from diverse lines of business which primarily consist of mortgage, wealth management and insurance revenue sources along with income from deposit and loan products. For the fourth quarter of 2012, noninterest income increased 40% to $18.0 million as compared to $12.9 million for the fourth quarter of 2011. Noninterest income for 2012 was $68.7 million as compared to $64.7 million for 2011. Excluding the aforementioned gain from the Company’s acquisitions, noninterest income increased $13.4 million, or 24%, for 2012 as compared to 2011.

Noninterest expense was $38.5 million for the fourth quarter of 2012 as compared to $32.4 million for the fourth quarter of 2011. Noninterest expense for 2012 was $150.5 million as compared to $137.0 million for 2011. The increase in noninterest expense during 2012 as compared to 2011, as well as on a quarter-over-quarter basis, was primarily due to costs associated with the Company’s new market expansions, increased health care costs, and commissions paid on increased mortgage loan originations.

At December 31, 2012, total nonperforming loans were $83.4 million and total other real estate owned (OREO) was $90.3 million. The Company’s nonperforming loans and OREO under loss-share agreements with the FDIC at December 31, 2012, were $53.2 million and $45.5 million, respectively. The remaining information in this release on nonperforming loans, OREO and the related asset quality ratios excludes the assets covered under loss-share agreements with the FDIC.

Nonperforming assets decreased 28.7% to $75.0 million at December 31, 2012, as compared to $105.0 million at December 31, 2011.

Nonperforming loans (loans 90 days or more past due and nonaccrual loans) decreased 13.5% to $30.2 million at December 31, 2012, as compared to $34.9 million at December 31, 2011. Early stage delinquencies, or loans 30-to-89 days past due, as a percentage of total loans were 0.31% at December 31, 2012, as compared to 0.71% at December 31, 2011.

The Company recorded a provision for loan losses of $4.0 million and $18.1 million for the quarter and year ending December 31, 2012, respectively, as compared to $6.0 million and $22.4 million for the quarter and year ending December 31, 2011, respectively. Annualized net charge-offs as a percentage of average loans were 0.52% for the fourth quarter of 2012 as compared to 1.56% for the same quarter in 2011. Net charge-offs as a percentage of average loans for the year ending December 31, 2012, were 0.67% as compared to 0.91% for 2011.

The allowance for loan losses as a percentage of loans was 1.72% at December 31, 2012, as compared to 1.98% at December 31, 2011. The Company’s coverage ratio, or the allowance for loan losses as a percentage of nonperforming loans, increased to 147% at December 31, 2012, as compared to 138% on a linked quarter basis and 127% at December 31, 2011.

OREO was $44.7 million at December 31, 2012, as compared to $48.6 million at September 30, 2012, and $70.1 million at December 31, 2011. The Company continues to aggressively market the properties held in OREO as it sold approximately $30.4 million of OREO during 2012 and

$4.7 million during the fourth quarter of 2012. The Company has an additional $4.9 million of OREO under contract which is expected to close during the first quarter of 2013.

“As we move into 2013, we are excited about our many opportunities to build upon our success from 2012. We are well positioned to continue our positive trends which enhance our earnings potential through our strong team of community bankers and favorable banking markets. Additionally, we will continue to take advantage of external opportunities to expand our market share and cultivate new relationships,” commented McGraw.

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 a.m. Eastern time on Wednesday, January 16, 2013, through the Company’s website: www.renasant.com. The event will be archived on the Company’s website for one year. If Internet access is unavailable, the conference may also be heard live (listen-only) via telephone by dialing 1-877-317-6016 in the United States and requesting the Renasant Corporation earnings call. International participants should dial 1-412-317-6016.

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 $4.2 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)


	2012												2011												Q4 2012 - Q4 2011			For the Year Ended December 31,
Statement of earnings	Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Percent Variance			2012			2011			Percent Variance
Interest income -taxable equivalent basis	$	41,135		$	40,613		$	41,487		$	42,001		$	42,430		$	43,432		$	45,291		$	45,371			(3.05	)	$	165,236		$	176,524			(6.39	)
Interest income	$	39,676		$	39,154		$	39,978		$	40,505		$	41,044		$	41,981		$	43,819		$	43,843			(3.33	)	$	159,313		$	170,687			(6.66	)
Interest expense		5,723			6,022			6,568			7,662			8,471			9,070			11,153			12,707			(32.44	)		25,975			41,401			(37.26	)

Net interest income		33,953			33,132			33,410			32,843			32,573			32,911			32,666			31,136			4.24			133,338			129,286			3.13
Provision for loan losses		4,000			4,625			4,700			4,800			6,000			5,500			5,350			5,500			(33.33	)		18,125			22,350			(18.90	)

Net interest income after provision		29,953			28,507			28,710			28,043			26,573			27,411			27,316			25,636			12.72			115,213			106,936			7.74
Service charges on deposit accounts		4,774			4,818			4,495			4,525			4,483			4,751			5,036			4,841			6.49			18,612			19,111			(2.61	)
Fees and commissions on loans and deposits		4,706			4,639			4,322			3,928			3,757			3,320			3,118			2,931			25.26			17,595			13,126			34.05
Insurance commissions and fees		1,042			848			842			898			820			849			792			837			27.07			3,630			3,298			10.07
Wealth management revenue		1,726			1,707			1,551			1,942			1,525			1,144			1,139			1,056			13.18			6,926			4,864			42.39
Securities gains (losses)		121			—			869			904			—			5,041			(258	)		12			—			1,894			4,795			(60.50	)
Gain on sale of mortgage loans		4,431			4,397			2,390			1,281			662			1,371			949			1,151			569.34			12,499			4,133			202.42
Gain on acquisition		—			—			—			—			—			570			—			8,774			—			—			9,344			(100.00	)
Other		1,272			1,605			1,769			2,909			1,682			1,349			1,604			1,393			(24.38	)		7,555			6,028			25.33

Total noninterest income		18,072			18,014			16,238			16,387			12,929			18,395			12,380			20,995			39.78			68,711			64,699			6.20
Salaries and employee benefits		21,261			21,221			19,871			18,649			16,232			17,493			16,173			16,237			30.98			81,002			66,135			22.48
Occupancy and equipment		3,518			3,882			3,582			3,615			3,533			3,434			3,367			3,218			(0.42	)		14,597			13,552			7.71
Data processing		2,281			2,192			2,211			2,040			1,925			1,927			1,657			1,788			18.49			8,724			7,297			19.56
Debt extinguishment penalty		—			—			—			898			—			—			—			1,903			—			898			1,903			(52.81	)
Merger-related expenses		—			—			—			—			—			326			—			1,325			—			—			1,651			(100.00	)
Other real estate		3,787			2,440			3,370			3,999			3,357			6,336			2,122			3,511			12.81			13,596			15,326			(11.29	)
Amortization of intangibles		333			341			349			358			366			351			510			515			(9.02	)		1,381			1,742			(20.72	)
Other		7,317			8,555			7,327			7,062			6,951			7,091			7,816			7,496			5.27			30,261			29,354			3.09

Total noninterest expense		38,497			38,631			36,710			36,621			32,364			36,958			31,645			35,993			18.95			150,459			136,960			9.86
Income before income taxes		9,528			7,890			8,238			7,809			7,138			8,848			8,051			10,638			33.48			33,465			34,675			(3.49	)
Income taxes		2,247			853			1,893			1,835			1,348			2,316			2,294			3,085			66.69			6,828			9,043			(24.49	)

Net income	$	7,281		$	7,037		$	6,345		$	5,974		$	5,790		$	6,532		$	5,757		$	7,553			25.75		$	26,637		$	25,632			3.92

Basic earnings per share	$	0.29		$	0.28		$	0.25		$	0.24		$	0.23		$	0.26		$	0.23		$	0.30			26.09		$	1.06		$	1.02			3.92
Diluted earnings per share		0.29			0.28			0.25			0.24			0.23			0.26			0.23			0.30			26.09			1.06			1.02			3.92
Average basic shares outstanding		25,129,932			25,114,672			25,110,709			25,078,996			25,061,122			25,061,068			25,059,081			25,052,126			0.27			25,108,652			25,058,381			0.20
Average diluted shares outstanding		25,259,048			25,220,887			25,149,360			25,138,213			25,183,114			25,180,923			25,182,503			25,172,410			0.30			25,174,992			25,186,131			(0.04	)
Common shares outstanding		25,157,637			25,120,412			25,113,894			25,105,732			25,066,068			25,061,068			25,061,068			25,056,431			0.37			25,157,637			25,066,068			0.37
Cash dividend per common share	$	0.17		$	0.17		$	0.17		$	0.17		$	0.17		$	0.17		$	0.17		$	0.17			—		$	0.68		$	0.68			—
Performance ratios
Return on average shareholders’ equity		5.80	%		5.65	%		5.19	%		4.88	%		4.71	%		5.36	%		4.84	%		6.51	%					5.38	%		5.34	%
Return on average shareholders’ equity, excluding amortization expense		5.97	%		5.82	%		5.36	%		5.06	%		4.89	%		5.54	%		5.11	%		6.78	%					5.56	%		5.57	%
Return on average assets		0.70	%		0.69	%		0.62	%		0.57	%		0.55	%		0.63	%		0.54	%		0.69	%					0.64	%		0.60	%
Return on average assets, excluding amortization expense		0.72	%		0.71	%		0.64	%		0.59	%		0.57	%		0.65	%		0.57	%		0.72	%					0.66	%		0.63	%
Net interest margin (FTE)		3.97	%		3.94	%		3.98	%		3.85	%		3.84	%		3.92	%		3.76	%		3.55	%					3.94	%		3.77	%
Yield on earning assets (FTE)		4.61	%		4.63	%		4.73	%		4.71	%		4.80	%		4.96	%		4.99	%		4.93	%					4.67	%		4.92	%
Cost of funding		0.64	%		0.68	%		0.74	%		0.84	%		0.92	%		0.99	%		1.17	%		1.31	%					0.72	%		1.11	%
Average earning assets to average assets		86.01	%		85.62	%		85.39	%		84.88	%		84.22	%		83.95	%		84.75	%		84.16	%					85.48	%		84.28	%
Average loans to average deposits		82.21	%		81.34	%		76.89	%		75.45	%		75.83	%		76.23	%		72.47	%		70.20	%					78.97	%		73.64	%
Noninterest income (less securities gains/losses) to average assets		1.73	%		1.76	%		1.50	%		1.47	%		1.23	%		1.28	%		1.18	%		1.92	%					1.60	%		1.41	%
Noninterest expense to average assets		3.71	%		3.77	%		3.58	%		3.49	%		3.08	%		3.54	%		2.96	%		3.30	%					3.64	%		3.22	%
Net overhead ratio		1.98	%		2.01	%		2.08	%		2.01	%		1.85	%		2.26	%		1.78	%		1.38	%					2.04	%		1.81	%
Efficiency ratio (FTE)		71.98	%		73.44	%		71.76	%		72.19	%		69.02	%		70.05	%		68.03	%		67.08	%					72.58	%		68.54	%

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


	2012												2011												Q4 2012 - Q4 2011			For the Year Ended December 31,
Average balances	Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Percent Variance			2012			2011			Percent Variance
Total assets	$	4,128,508		$	4,078,333		$	4,123,373		$	4,222,376		$	4,172,518		$	4,142,851		$	4,294,530		$	4,423,088			(1.05	)	$	4,137,931		$	4,257,244			(2.80	)
Earning assets		3,551,026			3,491,941			3,521,099			3,583,957			3,514,110			3,478,054			3,639,696			3,722,419			1.05			3,536,921			3,588,195			(1.43	)
Securities		665,578			682,123			793,353			813,826			745,398			796,957			863,735			881,808			(10.71	)		738,365			821,532			(10.12	)
Loans, net of unearned		2,827,922			2,754,017			2,647,321			2,614,000			2,594,820			2,577,539			2,575,890			2,556,572			8.98			2,711,253			2,577,185			5.20
Intangibles		191,086			191,442			191,788			192,429			192,611			191,574			191,320			191,740			(0.79	)		191,612			191,776			(0.09	)
Noninterest-bearing deposits	$	564,440		$	543,767		$	531,209		$	534,867		$	523,807		$	480,699		$	468,170		$	476,115			7.76		$	543,628		$	487,310			11.56
Interest-bearing deposits		2,839,709			2,812,140			2,886,878			2,897,750			2,854,146			2,880,248			3,072,809			3,148,481			(0.51	)		2,858,938			2,988,208			(4.33	)
Total deposits		3,404,149			3,355,907			3,418,087			3,432,617			3,377,953			3,360,947			3,540,979			3,624,596			0.78			3,402,566			3,475,518			(2.10	)
Borrowed funds		175,876			177,016			168,856			238,937			260,672			259,387			261,060			290,201			(32.53	)		190,096			267,726			(29.00	)
Shareholders’ equity		499,088			495,220			492,164			492,092			487,752			483,121			476,896			470,875			2.32			494,739			479,717			3.13
Asset quality data
Assets not subject to loss share:
Nonaccrual loans	$	26,881		$	29,677		$	26,099		$	26,999		$	31,154		$	40,363		$	42,331		$	46,406			(13.72	)	$	26,881		$	31,154			(13.72	)
Loans 90 past due or more		3,307			2,358			3,864			3,435			3,760			8,674			9,646			10,839			(12.05	)		3,307			3,760			(12.05	)

Nonperforming loans		30,188			32,035			29,963			30,434			34,914			49,037			51,977			57,245			(13.54	)		30,188			34,914			(13.54	)
Other real estate owned		44,717			48,568			58,384			64,931			70,079			72,765			68,384			71,415			(36.19	)		44,717			70,079			(36.19	)

Nonperforming assets not subject to loss share	$	74,905		$	80,603		$	88,347		$	95,365		$	104,993		$	121,802		$	120,361		$	128,660			(28.66	)	$	74,905		$	104,993			(28.66	)

Assets subject to loss share:
Nonaccrual loans	$	53,186		$	64,080		$	65,386		$	78,418		$	88,034		$	84,426		$	78,780		$	78,909			(39.58	)	$	53,186		$	88,034			(39.58	)
Loans 90 past due or more		—			—			199			1,397			1,134			12,222			10,619			7,817			(100.00	)		—			1,134			(100.00	)

Non-performing loans subject to loss share		53,186			64,080			65,585			79,815			89,168			96,648			89,399			86,726			(40.35	)		53,186			89,168			(40.35	)
Other real estate owned		45,534			41,615			37,951			35,461			43,156			44,021			59,802			59,036			5.51			45,534			43,156			5.51

Nonperforming assets subject to loss share	$	98,720		$	105,695		$	103,536		$	115,276		$	132,324		$	140,669		$	149,201		$	145,762			(25.40	)	$	98,720		$	132,324			(25.40	)

Net loan charge-offs (recoveries)	$	3,722		$	5,335		$	4,097		$	4,964		$	10,192		$	4,539		$	5,284		$	3,410			(63.48	)	$	18,118		$	23,425			(22.66	)
Allowance for loan losses		44,347			44,069			44,779			44,176			44,340			48,532			47,571			47,505			0.02			44,347			44,340			0.02
Nonperforming loans / total loans*		1.17	%		1.26	%		1.25	%		1.33	%		1.56	%		2.22	%		2.38	%		2.61	%					1.17	%		1.56	%
Nonperforming assets / total assets*		1.79	%		1.94	%		2.15	%		2.28	%		2.50	%		2.94	%		2.83	%		2.91	%					1.79	%		2.50	%
Allowance for loan losses / total loans*		1.72	%		1.74	%		1.87	%		1.94	%		1.98	%		2.20	%		2.18	%		2.17	%					1.72	%		1.98	%
Allowance for loan losses / nonperforming loans*		146.90	%		137.57	%		149.45	%		145.15	%		127.00	%		98.97	%		91.52	%		82.99	%					146.90	%		127.00	%
Annualized net loan charge-offs / average loans*		0.52	%		0.77	%		0.62	%		0.76	%		1.56	%		0.70	%		0.82	%		0.54	%					0.67	%		0.91	%
Balances at period end
Total assets	$	4,182,781		$	4,164,606		$	4,112,377		$	4,176,490		$	4,202,008		$	4,136,474		$	4,259,200		$	4,422,164			(0.46	)	$	4,182,781		$	4,202,008			(0.46	)
Earning assets		3,588,371			3,595,576			3,510,654			3,551,252			3,528,980			3,480,982			3,585,441			3,724,108			1.68			3,588,371			3,528,980			1.68
Securities		674,078			680,679			676,721			834,419			796,341			718,881			833,710			880,382			(15.35	)		674,078			796,341			(15.35	)
Mortgage loans held for sale		34,845			39,131			25,386			25,216			28,222			24,739			11,511			9,399			23.47			34,845			28,222			23.47
Loans not subject to loss share		2,573,165			2,539,618			2,392,349			2,281,957			2,241,622			2,204,955			2,185,490			2,190,376			14.79			2,573,165			2,241,622			14.79
Loans subject to loss share		237,088			260,545			289,685			318,089			339,462			359,813			377,149			386,811			(30.16	)		237,088			339,462			(30.16	)
Total loans		2,810,253			2,800,163			2,682,034			2,600,046			2,581,084			2,564,768			2,562,639			2,577,187			8.88			2,810,253			2,581,084			8.88
Intangibles		190,925			191,258			191,618			191,968			192,326			192,755			191,086			191,581			(0.73	)		190,925			192,326			(0.73	)
Noninterest-bearing deposits	$	568,214		$	554,581		$	539,237		$	535,955		$	531,910		$	493,130		$	458,686		$	486,676			6.83		$	568,214		$	531,910			6.83
Interest-bearing deposits		2,893,007			2,841,447			2,866,959			2,937,211			2,880,327			2,849,225			3,018,733			3,158,198			0.44			2,893,007			2,880,327			0.44
Total deposits		3,461,221			3,396,028			3,406,196			3,473,166			3,412,237			3,342,355			3,477,419			3,644,874			1.44			3,461,221			3,412,237			1.44
Borrowed funds		164,705			222,907			169,979			171,753			254,709			262,569			263,067			260,149			(35.34	)		164,705			254,709			(35.34	)
Shareholders’ equity		498,208			496,824			491,534			489,611			487,202			487,401			480,135			473,354			2.26			498,208			487,202			2.26
Market value per common share	$	19.14		$	19.61		$	15.71		$	16.28		$	15.00		$	12.73		$	14.49		$	16.98			27.60		$	19.14		$	15.00			27.60
Book value per common share		19.80			19.78			19.57			19.50			19.44			19.45			19.16			18.89			1.89			19.80			19.44			1.89
Tangible book value per common share		12.21			12.16			11.94			11.86			11.76			11.76			11.53			11.25			3.83			12.21			11.76			3.83
Shareholders’ equity to assets (actual)		11.91	%		11.93	%		11.95	%		11.72	%		11.59	%		11.78	%		11.27	%		10.70	%					11.91	%		11.59	%
Tangible capital ratio		7.60	%		7.69	%		7.65	%		7.47	%		7.35	%		7.47	%		7.11	%		6.66	%					7.60	%		7.35	%
Leverage ratio		9.86	%		9.90	%		9.68	%		9.38	%		9.44	%		9.48	%		9.10	%		8.77	%					9.86	%		9.44	%
Tier 1 risk-based capital ratio		12.85	%		12.73	%		13.14	%		13.32	%		13.32	%		13.63	%		13.58	%		13.59	%					12.85	%		13.32	%
Total risk-based capital ratio		14.13	%		14.00	%		14.39	%		14.58	%		14.58	%		14.89	%		14.83	%		14.84	%					14.13	%		14.58	%

*	Based on assets not subject to loss share

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)


Loans not subject to loss share by category	2012								2011								Q4 2012 - Q4 2011 Percent Variance			For the Year Ended December 31,
Loans not subject to loss share by category	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Q4 2012 - Q4 2011 Percent Variance			2012		2011		Percent Variance
Commercial, financial, agricultural	$	306,250	$	299,774	$	280,515	$	263,720	$	260,288	$	247,950	$	243,343	$	250,889		17.66		$	306,250	$	260,288		17.66
Lease financing		190		217		245		302		328		350		393		458		(42.07	)		190		328		(42.07	)
Real estate -construction		104,058		103,522		73,109		67,223		74,159		75,690		77,224		71,559		40.32			104,058		74,159		40.32
Real estate - 1-4 family mortgages		829,975		801,612		771,161		738,765		716,704		712,871		720,451		730,860		15.80			829,975		716,704		15.80
Real estate -commercial mortgages		1,275,482		1,275,386		1,208,057		1,153,423		1,130,143		1,106,037		1,081,801		1,073,561		12.86			1,275,482		1,130,143		12.86
Installment loans to individuals		57,210		59,107		59,262		58,524		60,000		62,057		62,278		63,049		(4.65	)		57,210		60,000		(4.65	)

Loans, net of unearned	$	2,573,165	$	2,539,618	$	2,392,349	$	2,281,957	$	2,241,622	$	2,204,955	$	2,185,490	$	2,190,376		14.79		$	2,573,165	$	2,241,622		14.79

Loans subject to loss share by category
Commercial, financial, agricultural	$	10,800	$	11,282	$	12,758	$	15,206	$	17,803	$	19,196	$	24,233	$	22,964		(39.34	)	$	10,800	$	17,803		(39.34	)
Lease financing		—		—		—		—		—		—		—		—		—			—		—		—
Real estate -construction		1,648		1,932		6,093		6,202		7,076		10,811		10,318		13,847		(76.71	)		1,648		7,076		(76.71	)
Real estate - 1-4 family mortgages		73,448		81,784		91,605		99,769		107,923		114,228		119,508		123,770		(31.94	)		73,448		107,923		(31.94	)
Real estate -commercial mortgages		151,161		165,494		179,160		196,754		206,492		215,370		222,876		226,038		(26.80	)		151,161		206,492		(26.80	)
Installment loans to individuals		31		53		69		158		168		208		214		192		(81.55	)		31		168		(81.55	)

Loans, net of unearned	$	237,088	$	260,545	$	289,685	$	318,089	$	339,462	$	359,813	$	377,149	$	386,811		(30.16	)	$	237,088	$	339,462		(30.16	)

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