Renasant Corporation

Good morning and welcome to the Renaissance Corporation 2025 Second Quarter Earnings Conference Call and Webcast. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Kelly Hutcherson, Chief Accounting Officer for Renaissance Court. Please go ahead.

Good morning, and thank you for joining us for Renaissance Corporation's quarterly webcast and conference call. Participating in the 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. Thank you so much for joining us. 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 President and Chief Executive Officer, Kevin Chapman.

Thank you, Kelly, and good morning. We appreciate you joining the call and look forward to sharing results that reflect our merger with the first bank shares and the successes we've enjoyed since the two companies came together. We closed the transaction on April 1st, and our second quarter numbers reflect a full quarter of operations from both companies. I am proud of the results and believe they are a great reflection on the hard work of our employees in bringing the companies together. While we still have systems conversion in early August, the cultural integration of our employees and customers have gone well. The teamwork and collaboration from employees in all areas of both companies has put us right where we need to be from an overall perspective of the merger. We are very encouraged by these early results and we will continue to remain focused on the work of meeting the needs of our customers by successfully integrating teams from both the companies. I will now highlight a few of our second quarter financial results. Our reported earnings were $1 million or one cent per diluted share. Adjusted earnings were approximately $66 million or 69 cents per diluted share. Importantly, both sides of the balance sheet demonstrated positive growth for the company and reveal the work done to solidify employee and customer relationships. Loans were up $312 million or 7% from what the combined companies reported on March 31st. Likewise, deposits were up $361 million or 7%. We also saw meaningful expansion in the core net interest margin from 3.42% to 3.58%. Reported margin, which reflects purchase accounting adjustments, rose from 3.45% to 3.85% for the quarter. Our adjusted total cost of deposits decreased 18 basis points to 2.04%, while our adjusted loan yields decreased only one basis point to 6.18%. As you can see, our earnings trajectory and balance sheet strength are evident in the second quarter results. We are well positioned for the second half of the year and are on track to realize the benefits of the combination. I will now turn the call over to Jim.