Renasant Corporation (NASDAQ:RNST) Q2 2023 Earnings Conference Call July 26, 2023 10:00 AM ET

Company Participants

Kelly Hutcheson - Chief Accounting Officer

Mitch Waycaster - Executive Vice Chairman and Chief Executive Officer

Kevin Chapman - President and Chief Operating Officer

Jim Mabry - Chief Financial Officer

Conference Call Participants

Thomas Wendler - Stephens

Will Jones - KBW

Michael Rose - Raymond James

Stephen Scouten - Piper Sandler

Operator

Good morning and welcome to the Renasant Corporation 2023 Second Quarter Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Kelly Hutcheson, Chief Accounting Officer with Renasant Corporation. Please go ahead.

Kelly Hutcheson

Thank you for joining us for Renasant Corporation’s 2023 quarterly webcast and conference call. Participating in this call today are members of Renaissance executive management team.

Before we begin, please note that many of our comments during this call will be forward-looking statements, which involve risk and uncertainty. There are many factors that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. Such factors include, but are not limited to, changes in the mix and cost of our funding sources, interest rate fluctuation, regulatory changes, portfolio performance and other factors discussed in our recent filings with the Securities and Exchange Commission, including our recently filed earnings release, which has been posted to our corporate site, www.renasant.com at the Press Releases link under the News and Market Data tab.

We undertake no obligation and we specifically disclaim any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. In addition, some of the financial measures that we may discuss this morning are non-GAAP financial measures. A reconciliation of the non-GAAP measures to the most comparable GAAP measures can be found in our earnings release.

And now, I will turn the call over to our Executive Vice Chairman and Chief Executive Officer, Mitch Waycaster.

Mitch Waycaster

Thank you, Kelly. Good morning. We appreciate you joining the call today and your interest in Renasant. Although the current operating environment continues to be volatile and uncertain at times, our focus on basic banking principles and the safety and soundness of our institution has not wavered. Our second quarter results are highlighted by solid core earnings, strong asset quality metrics and a well-diversified and granular core funding base. In the second quarter, we took steps to delever the balance sheet. These actions enhance the strength and optionality of our financial condition and will aid earnings in future quarters. Loan growth was solid and reflects the vibrancy of markets in which we operate. Our financial outlook will continue to benefit from the economic growth throughout our footprint.