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Employee Benefit and Deferred Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits [Abstract] |
Schedule of information relating to the defined benefit pension plan and post-retirement health and life plans | The following table presents information relating to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits - Renasant”) and the post-retirement health plan (“Other Benefits”) as of December 31, 2024 and 2023:
| Pension Benefits Renasant |  |  |  |  |  | Other Benefits
| 2024 |  | 2023 |  |  |  |  |  | 2024 |  | 2023
Change in benefit obligation |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 20,195 |  |  | $ | 21,230 |  |  |  |  |  |  | $ | 512 |  |  | $ | 551 |
Service cost | — |  |  | — |  |  |  |  |  |  | — |  |  | 1 |
Interest cost | 908 |  |  | 995 |  |  |  |  |  |  | 21 |  |  | 22 |
Plan participants’ contributions | — |  |  | — |  |  |  |  |  |  | 21 |  |  | 49 |
Actuarial (gain) loss | (620) |  |  | 74 |  |  |  |  |  |  | (89) |  |  | (21) |
Benefits paid | (1,798) |  |  | (2,104) |  |  |  |  |  |  | (17) |  |  | (90) |
Benefit obligation at end of year | $ | 18,685 |  |  | $ | 20,195 |  |  |  |  |  |  | $ | 448 |  |  | $ | 512 |
Change in fair value of plan assets |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 20,119 |  |  | $ | 20,854 |  |  |  |  |  |  |  |  |
Actual return on plan assets | 827 |  |  | 1,369 |  |  |  |  |  |  |  |  |
Contribution by employer | — |  |  | — |  |  |  |  |  |  |  |  |
Benefits paid | (1,798) |  |  | (2,104) |  |  |  |  |  |  |  |  |
Fair value of plan assets at end of year | $ | 19,148 |  |  | $ | 20,119 |  |  |  |  |  |  |  |  |
Funded status at end of year | $ | 463 |  |  | $ | (76) |  |  |  |  |  |  | $ | (448) |  |  | $ | (512) |
Weighted-average assumptions as of December 31 |  |  |  |  |  |  |  |  |  |  |
Discount rate used to determine the benefit obligation | 5.37 | % |  | 4.74 | % |  |  |  |  |  | 4.99 | % |  | 4.53 | %
Schedule of plan expense for noncontributory benefit pension plan and post-retirement health and life plans | The components of net periodic benefit cost and other amounts recognized in other comprehensive income for the defined benefit pension and post-retirement health plans for the years ended December 31, 2024, 2023 and 2022 are as follows:
| Pension Benefits Renasant |  |  |  |  |  | Other Benefits
| 2024 |  | 2023 |  | 2022 |  |  |  |  |  | 2024 |  | 2023 |  | 2022
Service cost | $ | — |  | $ | — |  | $ | — |  |  |  |  |  | $ | — |  | $ | 1 |  | $ | 4
Interest cost | 908 |  | 995 |  | 738 |  |  |  |  |  | 21 |  | 22 |  | 12
Expected return on plan assets | (993) |  | (1,236) |  | (1,684) |  |  |  |  |  | — |  | — |  | —
Recognized actuarial loss (gain) | 517 |  | 523 |  | 243 |  |  |  |  |  | (93) |  | (61) |  | (76)
Net periodic benefit cost | 432 |  | 282 |  | (703) |  |  |  |  |  | (72) |  | (38) |  | (60)
Net actuarial (gain) loss arising during the period | (455) |  | (60) |  | 4,155 |  |  |  |  |  | (89) |  | (20) |  | (48)
Amortization of net actuarial (loss) gain recognized in net periodic pension cost | (516) |  | (523) |  | (243) |  |  |  |  |  | 94 |  | 61 |  | 76
Total recognized in other comprehensive income | (971) |  | (583) |  | 3,912 |  |  |  |  |  | 5 |  | 41 |  | 28
Total recognized in net periodic benefit cost and other comprehensive income | $ | (539) |  | $ | (301) |  | $ | 3,209 |  |  |  |  |  | $ | (67) |  | $ | 3 |  | $ | (32)
Weighted-average assumptions as of December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate used to determine net periodic pension cost | 4.74 | % |  | 4.94 | % |  | 2.79 | % |  |  |  |  |  | 4.53 | % |  | 4.74 | % |  | 2.35 | %
Expected return on plan assets | 5.20 | % |  | 6.25 | % |  | 5.75 | % |  |  |  |  |  | N/A |  | N/A |  | N/A
Schedule of future estimated benefit payments under the defined benefit pension plan and post-retirement health and life plan | Future estimated benefit payments under the Renasant defined benefit pension plan and other benefits are as follows:
| Pension Benefits Renasant |  |  |  | Other Benefits
2025 | $ | 2,101 |  |  |  |  | $ | 86 |
2026 | 1,967 |  |  |  |  | 76 |
2027 | 1,896 |  |  |  |  | 76 |
2028 | 1,890 |  |  |  |  | 54 |
2029 | 1,836 |  |  |  |  | 70 |
2030 - 2034 | 7,763 |  |  |  |  | 149 |
Schedule of amounts recognized in accumulated other comprehensive income, net of tax | Amounts recognized in accumulated other comprehensive income, before tax, for the year ended December 31, 2024 are as follows:
| Pension Benefits Renasant |  |  |  | Other Benefits
Prior service cost | $ | — |  |  |  |  | $ | — |
Actuarial loss (gain) | 9,752 |  |  |  |  | (225) |
Total | $ | 9,752 |  |  |  |  | $ | (225) |
Schedule of estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost | The estimated costs that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2025 are as follows:
| Pension Benefits Renasant |  |  |  | Other Benefits
Prior service cost | $ | — |  |  |  |  | $ | — |
Actuarial loss (gain) | 485 |  |  |  |  | (88) |
Total | $ | 485 |  |  |  |  | $ | (88) |
Schedule of fair values of defined benefit pension plan assets by category of the firm |
| Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Measured at net asset value per share (“NAV”) |  | Totals
December 31, 2024 |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 281 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 281 |
Investments in collective trusts | — |  |  | — |  |  | — |  |  | 16,590 |  |  | 16,590 |
U.S. government securities | — |  |  | 156 |  |  | — |  |  | — |  |  | 156 |
Corporate stocks | 2,121 |  |  | — |  |  | — |  |  | — |  |  | 2,121 |
| $ | 2,402 |  |  | $ | 156 |  |  | $ | — |  |  | $ | 16,590 |  |  | $ | 19,148 |
| Quoted Prices In Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Measured at NAV |  | Totals
December 31, 2023 |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,042 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,042 |
Investments in collective trusts | — |  |  | — |  |  | — |  |  | 17,830 |  |  | 17,830 |
U.S. government securities | — |  |  | 47 |  |  | — |  |  | — |  |  | 47 |
Corporate stocks | 1,200 |  |  | — |  |  | — |  |  | — |  |  | 1,200 |
| $ | 2,242 |  |  | $ | 47 |  |  | $ | — |  |  | $ | 17,830 |  |  | $ | 20,119 |
Summary of the changes in stock options and restricted stock | The following table summarizes the changes in restricted stock as of and for the year ended December 31, 2024:
| Performance- Based Restricted Stock |  | Weighted Average Grant-Date Fair Value |  | Time- Based Restricted Stock |  | Weighted Average Grant-Date Fair Value
Not vested at beginning of year | 169,575 |  |  | $ | 36.38 |  |  | 779,564 |  |  | $ | 36.20 |
Awarded | 95,048 |  |  | 33.44 |  |  | 351,418 |  |  | 32.87 |
Vested | (61,508) |  |  | 38.62 |  |  | (298,600) |  |  | 35.52 |
Forfeited and cancelled | — |  |  | — |  |  | (31,201) |  |  | 33.99 |
Not vested at end of year | 203,115 |  |  | $ | 34.32 |  |  | 801,181 |  |  | $ | 35.08 |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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