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Regulatory Matters | 9 Months Ended
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Sep. 30, 2024
Banking and Thrift, Interest [Abstract] |
Regulatory Matters | Regulatory Matters (In Thousands) The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Federal Reserve, the FDIC and the Office of the Comptroller of the Currency have issued guidelines governing the levels of capital that bank holding companies and banks must maintain. Those guidelines specify capital tiers, which include the following classifications:
Capital Tiers | Tier 1 Capital to Average Assets (Leverage) |  | Common Equity Tier 1 to Risk - Weighted Assets |  | Tier 1 Capital to Risk - Weighted Assets |  | Total Capital to Risk - Weighted Assets
Well capitalized | 5% or above |  | 6.5% or above |  | 8% or above |  | 10% or above
Adequately capitalized | 4% or above |  | 4.5% or above |  | 6% or above |  | 8% or above
Undercapitalized | Less than 4% |  | Less than 4.5% |  | Less than 6% |  | Less than 8%
Significantly undercapitalized | Less than 3% |  | Less than 3% |  | Less than 4% |  | Less than 6%
Critically undercapitalized | Tangible Equity / Total Assets less than 2%
The following table provides the capital and risk-based capital and leverage ratios for the Company and for the Bank as of the dates presented:
| September 30, 2024 |  | December 31, 2023
| Amount |  | Ratio |  | Amount |  | Ratio
Renasant Corporation |  |  |  |  |  |  |
Tier 1 Capital to Average Assets (Leverage) | $ | 1,904,006 |  |  | 11.32 | % |  | $ | 1,578,918 |  |  | 9.62 | %
Common Equity Tier 1 Capital to Risk-Weighted Assets | 1,793,916 |  |  | 12.88 | % |  | 1,469,531 |  |  | 10.52 | %
Tier 1 Capital to Risk-Weighted Assets | 1,904,006 |  |  | 13.67 | % |  | 1,578,918 |  |  | 11.30 | %
Total Capital to Risk-Weighted Assets | 2,412,254 |  |  | 17.32 | % |  | 2,085,531 |  |  | 14.93 | %
Renasant Bank |  |  |  |  |  |  |
Tier 1 Capital to Average Assets (Leverage) | $ | 1,814,955 |  |  | 10.80 | % |  | $ | 1,714,965 |  |  | 10.45 | %
Common Equity Tier 1 Capital to Risk-Weighted Assets | 1,814,955 |  |  | 13.03 | % |  | 1,714,965 |  |  | 12.25 | %
Tier 1 Capital to Risk-Weighted Assets | 1,814,955 |  |  | 13.03 | % |  | 1,714,965 |  |  | 12.25 | %
Total Capital to Risk-Weighted Assets | 1,989,433 |  |  | 14.28 | % |  | 1,888,104 |  |  | 13.49 | %
The Company elected to take advantage of transitional relief offered by the Federal Reserve and the FDIC to delay for two years the estimated impact of ASC Topic 326, “Financial Instruments - Credit Losses” (“ASC 326”), often referred to as CECL, on regulatory capital, followed by a three-year transitional period to phase out the capital benefit provided by the two-year delay. The three-year transitional period began on January 1, 2022

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- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1F + Details
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