Item 2.02. Results of Operations and Financial Condition.
On January 26, 2021, Renasant Corporation ("Renasant") issued a press release
announcing earnings for the fourth quarter of 2020. The press release is
furnished as Exhibit 99.1 to this Form 8-K.
Item 7.01. Regulation FD Disclosure
On January 26, 2021, Renasant also made available presentation materials (the
"Presentation") prepared for use with Renasant's earnings conference call on
January 27, 2021. The Presentation is attached hereto and incorporated herein as
Exhibit 99.2.
In accordance with General Instruction B.2 of Form 8-K, the information in this
Item 7.01, including Exhibit 99.2, is being furnished and shall not be deemed to
be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liabilities of that section, and shall not
be deemed incorporated by reference into any registration statement or other
document filed pursuant to the Securities Act of 1933, as amended, or the
Securities Exchange Act of 1934, as amended, except as shall be expressly set
forth by specific reference in such filing.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The exhibits furnished herewith may contain, or incorporate by reference,
statements about Renasant that constitute "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Statements
preceded by, followed by or that otherwise include the words "believes,"
"expects," "projects," "anticipates," "intends," "estimates," "plans,"
"potential," "possible," "may increase," "may fluctuate," "will likely result,"
and similar expressions, or future or conditional verbs such as "will,"
"should," "would" and "could," are generally forward-looking in nature and not
historical facts. Forward-looking statements include information about
Renasant's future financial performance, business strategy, projected plans and
objectives and are based on the current beliefs and expectations of management.
Renasant's management believes these forward-looking statements are reasonable,
but they are all inherently subject to significant business, economic and
competitive risks and uncertainties, many of which are beyond Renasant's
control. In addition, these forward-looking statements are subject to
assumptions with respect to future business strategies and decisions that are
subject to change. Actual results may differ from those indicated or implied in
the forward-looking statements, and such differences may be material. You are
cautioned that any such forward-looking statements are not guarantees for future
performance and involve risks and uncertainties and, accordingly, you should not
place undue reliance on these forward-looking statements, which speak only as of
the date they are made.
Currently, the most important factor that could cause Renasant's actual results
to differ materially from those in forward-looking statements is the continued
impact of the COVID-19 pandemic and related governmental measures to respond to
the pandemic on the United States economy and the economies of the markets in
which Renasant operates and its participation in government programs related to
the pandemic. In the exhibits furnished herewith, Renasant has addressed the
historical impact of the pandemic on the operations to Renasant and set forth
certain expectations regarding the COVID-19 pandemic's future impact on
Renasant's business, financial condition, results of operations, liquidity,
capital, asset quality, cash flows and prospects. Renasant believes that its
statements regarding future events and conditions in light of the COVID-19
pandemic are reasonable, but these statements are based on assumptions
regarding, among other things, how long the pandemic will continue, the pace at
which the COVID-19 vaccine can be distributed and administered to residents of
the markets the Company serves and the United States generally, the duration,
extent and effectiveness of the governmental measures implemented to contain the
pandemic and ameliorate its impact on businesses and individuals throughout the
United States, and the impact of the pandemic and the government's virus
containment measures on national and local economies, all of which are out of
Renasant's control. If Renasant's assumptions underlying its statements about
future events prove to be incorrect, Renasant's business, financial condition,
results of operations, liquidity, asset quality, capital, cash flows and
prospects may be materially different from what is presented in Renasant's
forward-looking statements.
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Important factors other than the COVID-19 pandemic currently known to management
that could cause actual results to differ materially from those in
forward-looking statements include the following: (i) Renasant's ability to
efficiently integrate acquisitions into its operations, retain the customers of
these businesses, grow the acquired operations and realize the cost savings
expected from an acquisition to the extent and in the timeframe anticipated by
management; (ii) the effect of economic conditions and interest rates on a
national, regional or international basis; (iii) timing and success of the
implementation of changes in operations to achieve enhanced earnings or effect
cost savings; (iv) competitive pressures in the consumer finance, commercial
finance, insurance, financial services, asset management, retail banking,
mortgage lending and auto lending industries; (v) the financial resources of,
and products available from, competitors; (vi) changes in laws and regulations
as well as changes in accounting standards, such as the adoption of the CECL
model as of January 1, 2020; (vii) changes in policy by regulatory agencies;
(viii) changes in the securities and foreign exchange markets; (ix) Renasant's
potential growth, including its entrance or expansion into new markets, and the
need for sufficient capital to support that growth; (x) changes in the quality
or composition of Renasant's loan or investment portfolios, including adverse
developments in borrower industries or in the repayment ability of individual
borrowers; (xi) an insufficient allowance for loan losses as a result of
inaccurate assumptions; (xii) general economic, market or business conditions,
including the impact of inflation; (xiii) changes in demand for loan products
and financial services; (xiv) concentration of credit exposure; (xv) changes or
the lack of changes in interest rates, yield curves and interest rate spread
relationships; (xvi) increased cybersecurity risk, including potential network
breaches, business disruptions or financial losses; (xvii) civil unrest, natural
disasters, epidemics and other catastrophic events in Renasant's geographic
area; (xviii) the impact, extent and timing of technological changes; and (xix)
other circumstances, many of which are beyond management's control. The COVID-19
pandemic has exacerbated, and is likely to continue to exacerbate, the impact of
any of these factors on Renasant.
Management believes that the assumptions underlying Renasant's forward-looking
statements are reasonable, but any of the assumptions could prove to be
inaccurate. Investors are urged to carefully consider the risks described in
Renasant's filings with the Securities and Exchange Commission (the "SEC") from
time to time, including its most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, which are available at
investors.renasant.com and the SEC's website at www.sec.gov.
Renasant undertakes no obligation, and specifically disclaims any obligation, to
update or revise forward-looking statements, whether as a result of new
information or to reflect changed assumptions, the occurrence of unanticipated
events or changes to future operating results over time, except as required by
federal securities laws.
Item 9.01. Financial Statements and Exhibits.
(d) The following exhibits are furnished herewith:
Exhibit No. Description
99.1 Press release dated January 26, 2021 issued by Renasant Corporation
announcing earnings for the fourth quarter of 2020.
99.2 Presentation materials for Renasant Fourth Quarter 2020 Earnings Call.
104 The cover page of Renasant Corporation's Form 8-K is formatted in Inline
XBRL.
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