TUPELO, Miss., April 1, 2019 /PRNewswire/ -- Renasant
Corporation (NASDAQ: RNST) (the "Company") today announced that its
subsidiary, Renasant Bank, has entered into an agreement with
FirstBank of Nashville, Tennessee,
to acquire FirstBank's wholesale mortgage operations.
"We're excited about the opportunity to add a new wholesale
mortgage unit to our mortgage operations, which will double the
size of our current wholesale operation," said Renasant's Mortgage
Division President, David Mays. "We
believe this experienced team, which primarily operates within
Renasant's existing footprint, will enhance our already strong
mortgage operations, and we look forward to welcoming them to the
Renasant Mortgage team."
Upon completion of the transaction, Renasant Bank will acquire
all of the tangible assets and hire the personnel related to
FirstBank's wholesale operations. The transaction is subject to
receipt of all necessary regulatory approvals and other customary
closing conditions, and it is expected to be completed in the
second quarter of 2019.
ABOUT RENASANT CORPORATION:
Renasant Corporation is
the parent of Renasant Bank, a 115-year-old financial services
institution. Renasant has assets of approximately $12.9 billion and operates more than 190 banking,
mortgage, wealth management and insurance offices in Mississippi, Tennessee, Alabama, Florida and Georgia.
NOTE TO INVESTORS:
This press 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," "approximately," "should" and
variations of such words 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. 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 the Company's portfolio of
outstanding loans, and competition in the Company's markets.
Management believes that the assumptions underlying the Company's
forward-looking statements are reasonable, but any of the
assumptions could prove to be inaccurate. Investors are urged to
carefully consider the risks described in the Company's filings
with the Securities and Exchange Commission (the "SEC") from time
to time, including its most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, which are available at
www.renasant.com and the SEC's website at www.sec.gov. The
Company expressly disclaims any 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.
Contacts:
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For Media:
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For
Financials:
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John
Oxford
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Kevin
Chapman
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Senior Vice
President
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Executive Vice
President
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Director of Marketing
and Public Relations
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Chief Operating and
Financial Officer
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(662)
680-1219
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(662)
680-1450
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joxford@renasant.com
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kchapman@renasant.com
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SOURCE Renasant Corporation