Investment Thesis
Based in Tupelo, Mississippi, Renasant Corporation (RNST) is a $15-billion asset bank which operates more than 200 banking centers located throughout Alabama, Florida, Georgia, Mississippi and Tennessee.
Over the past decade its footprint has become more diversified outside its home state of Mississippi through the combination of organic growth (via de novo expansion) as well as FDIC-assisted and whole bank acquisitions. Today, Atlanta is now the company’s largest deposit market with the 11th largest market share and $2.3 billion in deposits. The company now has 39% of deposits in Mississippi,