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Employee Benefit and Deferred Compensation Plans | 6 Months Ended
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Jun. 30, 2021
Retirement Benefits [Abstract] |
Employee Benefit and Deferred Compensation Plans | Employee Benefit and Deferred Compensation Plans (In Thousands, Except Share Data) Pension and Post-retirement Medical Plans The Company sponsors a noncontributory defined benefit pension plan, under which participation and benefit accruals ceased as of December 31, 1996, and it provides retiree medical benefits, consisting of the opportunity to purchase coverage at subsidized rates under the Company’s group medical plan. Information related to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits”) and to the post-retirement health and life plan (“Other Benefits”) as of the dates presented is as follows:
| Pension Benefits |  |  |  | Other Benefits
| Three Months Ended |  |  |  | Three Months Ended
| June 30, |  |  |  | June 30,
| 2021 |  | 2020 |  |  |  |  |  | 2021 |  | 2020
Service cost | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 1 |  |  | $ | 1 |
Interest cost | 175 |  |  | 250 |  |  |  |  |  |  | 3 |  |  | 2 |
Expected return on plan assets | (441) |  |  | (413) |  |  |  |  |  |  | — |  |  | — |
Recognized actuarial loss (gain) | 78 |  |  | 96 |  |  |  |  |  |  | (2) |  |  | (27) |
Net periodic (return) benefit cost | $ | (188) |  |  | $ | (67) |  |  |  |  |  |  | $ | 2 |  |  | $ | (24) |
| Pension Benefits |  |  |  | Other Benefits
| Six Months Ended |  |  |  | Six Months Ended
| June 30, |  |  |  | June 30,
| 2021 |  | 2020 |  |  |  |  |  | 2021 |  | 2020
Service cost | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 2 |  |  | $ | 3 |
Interest cost | 341 |  |  | 492 |  |  |  |  |  |  | 7 |  |  | 7 |
Expected return on plan assets | (884) |  |  | (826) |  |  |  |  |  |  | — |  |  | — |
Recognized actuarial loss (gain) | 132 |  |  | 175 |  |  |  |  |  |  | (2) |  |  | (45) |
Net periodic (return) benefit cost | $ | (411) |  |  | $ | (159) |  |  |  |  |  |  | $ | 7 |  |  | $ | (35) |
Incentive Compensation Plans The Company maintains a long-term equity compensation plan that provides for the grant of stock options and the award of restricted stock. There were no stock options granted, nor compensation expense associated with options recorded, during the six months ended June 30, 2021 or 2020. The following table summarizes information about options outstanding, exercised and forfeited as of and for the six months ended June 30, 2021:
|  | Shares |  | Weighted Average Exercise Price
Options outstanding at beginning of period |  | 10,500 |  |  | $ | 14.96 |
Granted |  | — |  |  | — |
Exercised |  | (5,000) |  |  | 14.96 |
Forfeited |  | — |  |  | — |
Options outstanding at end of period |  | 5,500 |  |  | $ | 14.96 |
The Company also awards performance-based restricted stock to executives and other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees. The following table summarizes the changes in restricted stock as of and for the six months ended June 30, 2021:
|  | Performance-Based Restricted Stock |  | Weighted Average Grant-Date Fair Value |  | Time-Based Restricted Stock |  | Weighted Average Grant-Date Fair Value
Nonvested at beginning of period |  | 132,827 |  |  | $ | 32.88 |  |  | 548,416 |  |  | $ | 34.15 |
Awarded |  | 78,230 |  |  | 34.02 |  |  | 250,483 |  |  | 37.24 |
Vested |  | — |  |  | — |  |  | (126,121) |  |  | 37.20 |
Cancelled |  | — |  |  | — |  |  | (53,007) |  |  | 37.67 |
Nonvested at end of period |  | 211,057 |  |  | $ | 33.30 |  |  | 619,771 |  |  | $ | 34.48 |
During the six months ended June 30, 2021, the Company reissued 126,147 shares from treasury in connection with the exercise of stock options and awards of restricted stock. The Company recorded total stock-based compensation expense of $2,385 and $2,998 for the three months ended June 30, 2021 and 2020, respectively and $5,141 and $5,748 for the six months ended June 30, 2021 and 2020, respectively.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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