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Renasant Corporation (Parent Company Only) Condensed Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Balance Sheets | Balance Sheets
| December 31,
| 2022 |  | 2021
Assets |  |  |
Cash and cash equivalents(1) | $ | 167,727 |  |  | $ | 184,426 |
Investments | — |  |  | 2,009 |
Investment in bank subsidiary(2) | 2,391,721 |  |  | 2,477,917 |
Accrued interest receivable on bank balances(2) | 3 |  |  | 4 |
Other assets | 28,468 |  |  | 28,751 |
Total assets | $ | 2,587,919 |  |  | $ | 2,693,107 |
Liabilities and shareholders’ equity |  |  |
Junior subordinated debentures | $ | 112,042 |  |  | $ | 111,373 |
Subordinated notes | 316,091 |  |  | 359,419 |
Other liabilities | 23,770 |  |  | 12,462 |
Shareholders’ equity | 2,136,016 |  |  | 2,209,853 |
Total liabilities and shareholders’ equity | $ | 2,587,919 |  |  | $ | 2,693,107 |
(1)Eliminates in consolidation, with the exception of $1,889 and $1,857, in 2022 and 2021, respectively, pledged for collateral and held at non-subsidiary bank (2)Eliminates in consolidation
Statements of Income | Statements of Income
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Income |  |  |  |  |
Dividends from bank subsidiary(1) | $ | 68,114 |  |  | $ | 80,965 |  |  | $ | 81,443 |
Interest income from bank subsidiary(1) | 5 |  |  | 7 |  |  | 9 |
Other dividends | 134 |  |  | 80 |  |  | 93 |
Other income | 85 |  |  | 32 |  |  | 74 |
Total income | 68,338 |  |  | 81,084 |  |  | 81,619 |
Expenses | 24,264 |  |  | 18,661 |  |  | 15,179 |
Income before income tax benefit and equity in undistributed net income of bank subsidiary | 44,074 |  |  | 62,423 |  |  | 66,440 |
Income tax benefit | (6,231) |  |  | (4,795) |  |  | (3,889) |
Equity in undistributed net income of bank subsidiary(1) | 115,763 |  |  | 108,674 |  |  | 13,322 |
Net income | $ | 166,068 |  |  | $ | 175,892 |  |  | $ | 83,651 |
(1)Eliminates in consolidation
Statements of Cash Flows | Statements of Cash Flows
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Operating activities |  |  |  |  |
Net income | $ | 166,068 |  |  | $ | 175,892 |  |  | $ | 83,651 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed net income of bank subsidiary | (115,763) |  |  | (108,674) |  |  | (13,322) |
Amortization/depreciation | 1,478 |  |  | 891 |  |  | 692 |
Increase (decrease) in other assets | 284 |  |  | (5,628) |  |  | (256) |
Increase in other liabilities | 9,225 |  |  | 6,952 |  |  | 10,932 |
Net cash provided by operating activities | 61,292 |  |  | 69,433 |  |  | 81,697 |
Investing activities |  |  |  |  |
Purchases of securities available for sale | — |  |  | — |  |  | (6,104) |
Sales and maturities of securities and available for sale | 2,000 |  |  | 5,100 |  |  | 541 |
Other investing activities | — |  |  | (100,000) |  |  | — |
Net cash (used in) provided by investing activities | 2,000 |  |  | (94,900) |  |  | (5,563) |
Financing activities |  |  |  |  |
Cash paid for dividends | (49,991) |  |  | (50,017) |  |  | (50,134) |
Repurchase of shares in connection with stock repurchase program | — |  |  | (21,315) |  |  | (24,569) |
Repayment of long-term debt | (30,000) |  |  | (45,000) |  |  | — |
Proceeds from issuance of long-term debt | — |  |  | 197,061 |  |  | 98,266 |
Net cash (used in) provided by financing activities | (79,991) |  |  | 80,729 |  |  | 23,563 |
(Decrease) increase in cash and cash equivalents | (16,699) |  |  | 55,262 |  |  | 99,697 |
Cash and cash equivalents at beginning of year | 184,426 |  |  | 129,164 |  |  | 29,467 |
Cash and cash equivalents at end of year | $ | 167,727 |  |  | $ | 184,426 |  |  | $ | 129,164 |

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