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# Renasant Authorizes $175 Million Buyback As Quarterly Profit Falls To $78.9 Million
- URL: https://www.bullished.co/renasant-authorizes-175-million-buyback-as-quarterly-profit-falls-to-78-9-million-0ee851d7/
- Published: 2026-10-27T21:12:39.000Z
- Updated: 2026-10-27T21:12:39.000Z
- Description: The Mississippi bank grew loans at an 11.5% annualized pace while mortgage income and its net interest margin slipped from the second quarter.
- Author: Matteo Parrino
- Tags: Earnings, RNST, Industry: Financials

Renasant, the Tupelo, Mississippi, bank holding company that owns Renasant Bank, earned [$78.9 million](https://www.sec.gov/Archives/edgar/data/0000715072/000071507226000084/exhibit991%5Frnstx3q2026earn.htm?ref=bullished.co) in the third quarter, down from $87.1 million in the second, as mortgage income weakened. The board also approved a new $175.0 million share repurchase program, the company said Tuesday in an [8-K](https://www.sec.gov/Archives/edgar/data/0000715072/000071507226000084/rnst-20261027.htm?ref=bullished.co).

## Profit slips on mortgage banking

[Diluted earnings per share](https://www.globenewswire.com/news-release/2026/10/27/3389668/6389/en/renasant-corporation-announces-earnings-for-the-third-quarter-of-2026.html?ref=bullished.co) were $0.86, against $0.94 in the second quarter. Third-quarter 2025 net income was $59.8 million, or $0.63 a share.

[Noninterest income fell](https://www.globenewswire.com/news-release/2026/10/27/3389668/6389/en/renasant-corporation-announces-earnings-for-the-third-quarter-of-2026.html?ref=bullished.co) $1.9 million from the prior quarter. The company blamed rising mortgage rates, which cut new loan production and forced market value adjustments on pending loan sales. Mortgage banking income fell $1.9 million, and rate-lock volume dropped $91.0 million to $520.6 million.

Net interest margin on a fully tax-equivalent basis was 3.77%, down 6 basis points (0.06 percentage points) from the second quarter. Noninterest expense decreased $1.2 million.

## Loans grow 11.5% annualized

Loans rose $555.9 million from the prior quarter, an 11.5% annualized increase. The company credited strong production and lower payoffs.

Deposits slipped $73.2 million as public fund outflows of $214.7 million outweighed gains in consumer and commercial deposits. Short-term borrowings rose $491.3 million.

Credit measures improved. Criticized loans fell to 2.50% of total loans at September 30, from 2.66% at June 30, and nonperforming loans eased to 0.89% from 0.97%. Net charge-offs were $10.0 million, 0.20% annualized, with 16 basis points tied to a single credit.

"Third quarter results reflect strong loan growth with a record level of loan production," said CEO Kevin D. Chapman.

## A new buyback replaces the old

The new $175.0 million program, effective Tuesday, covers open-market or privately negotiated purchases. It runs until the earlier of October 2027 or full use of the amount, and replaces a program that expired in October.

Renasant bought back $42.6 million of stock in the quarter at a weighted average $41.05 a share. Shares outstanding ended September at 90,356,578, from 91,403,230 at June 30.

The bank had about $27.5 billion in assets, and its market value was about $3.8 billion when the report was first published Tuesday. Nine-month net income was $254.3 million against $102.3 million a year earlier. The 2025 figure carried a $50.0 million after-tax Day 1 acquisition provision and merger costs, and 2026 has neither.

Management holds its earnings call at 10:00 a.m. Eastern on Wednesday.

The call Wednesday is where management can address the mortgage drag and the margin slide.

### Sources

- [8-K Filing — RENASANT CORP (RNST)](https://www.sec.gov/Archives/edgar/data/0000715072/000071507226000084/rnst-20261027.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit exhibit991\_rnstx3q2026earn.htm — RENASANT CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000715072/000071507226000084/exhibit991%5Frnstx3q2026earn.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit rnstq32026earningsdeck\_f.htm — RENASANT CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000715072/000071507226000084/rnstq32026earningsdeck%5Ff.htm?ref=bullished.co) — SEC EDGAR
- [Renasant Corporation Announces Earnings For The Third](https://www.globenewswire.com/news-release/2026/10/27/3389668/6389/en/renasant-corporation-announces-earnings-for-the-third-quarter-of-2026.html?ref=bullished.co) — globenewswire.com