Renasant Q2 Net Income Rises - Quick Facts

(RTTNews) - Renasant Corporation (RNST) reported second quarter net income of $15.4 million or $0.48 per share, compared to $14.9 million or $0.47 per share, last year. During the second quarter of 2015, the company incurred pre-tax merger expenses related to the Heritage merger of approximately $1.47 million or $906 thousand on an after-tax basis, which equated to a reduction of $0.03 in EPS for the second quarter of 2015.

On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.56 for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $51.67 million, compared to $52.17 million for the second quarter of 2014. Noninterest income increased to $22.92 million from $19.47 million for the second quarter of 2014. The company said the increase in noninterest income was primarily attributable to growth in its mortgage operations and resulting mortgage income.

Total deposits were $4.89 billion at June 30, 2015.