TUPELO, Miss., May 04, 2026 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company"), the parent company of Renasant Bank, today announced the pricing of its public offering of $300 million aggregate principal amount of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036 (the "Notes"). The Notes will bear interest from and including May 7, 2026 to, but excluding, June 1, 2031, at a fixed rate of 6.25% per annum, payable semi-annually in arrears. From and including June 1, 2031 to, but excluding, June 1, 2036 (unless redeemed prior to such date), the Notes will bear interest at a floating rate per annum equal to the Three-Month Term SOFR, plus 245 basis points, payable quarterly in arrears. The Company may redeem the Notes, in whole or in part, on or after June 1, 2031, at a price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest to, but excluding, the date of redemption.

The Notes are intended to qualify as Tier 2 capital for regulatory purposes. The Company intends to use the net proceeds from the Notes offering for general corporate purposes, including the potential redemption of the $40 million aggregate principal amount outstanding of the Company's 5.50% Fixed-to-Floating Rate Subordinated Notes due September 1, 2031. The offering is expected to close on May 7, 2026, subject to the satisfaction of customary closing conditions.

Keefe, Bruyette & Woods, A Stifel Company, is acting as lead book-running manager for the offering, while Stephens Inc. is acting as active book-running manager. Park Place Capital Securities, Piper Sandler and Raymond James are serving as co-managers.

The Notes are being offered only by means of a prospectus supplement and accompanying base prospectus. The Company has filed a Registration Statement on Form S-3 (File No. 333-284828) (including a base prospectus) under the Securities Act of 1933, as amended, and a related preliminary prospectus supplement dated May 4, 2026 to the base prospectus contained in the registration statement with the Securities and Exchange Commission (the "SEC"), and it will file a final prospectus supplement relating to the offering of the Notes with the SEC.

Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering of the Notes may be obtained by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the base prospectus and the preliminary prospectus supplement if you request it by contacting Keefe, Bruyette & Woods, A Stifel Company, by email at [email protected] or Stephens Inc. at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of ...