TUPELO, Miss., Aug. 23, 2011 /PRNewswire/ -- Renasant
Corporation (NASDAQ: RNST), a $4.3
billion 107-year-old financial institution, today announced
that its wholly-owned subsidiary, Renasant Bank ("Renasant"), is
entering the Tuscaloosa, Alabama
banking market. The entry into Tuscaloosa adds to Renasant's current
Alabama footprint of multiple
full-service locations in Birmingham, Huntsville, Decatur, Montgomery and Madison with over $600
million in assets.
(Photo: http://photos.prnewswire.com/prnh/20110823/CL56596 )
"It's with great anticipation and excitement that we announce
our entrance into the Tuscaloosa
banking market," said Mike Ross,
Renasant Eastern Division President. "Renasant is on the move
and we continue to experience tremendous success in Alabama. As a strong bank with a
successful record of growth and expansion, our entrance into
Tuscaloosa enhances our ability to
serve our current and future Alabama clientele."
Renasant's temporary location will be in the "Fitts" building
located at 1806 6th Street in downtown Tuscaloosa. The Tuscaloosa market entrance is Renasant's ninth
expansion over the past 12 months. On July 1, 2011, Renasant announced its entrance
into the Montgomery, Alabama
banking market just two days after it announced that it had entered
into an agreement to acquire RBC Bank (USA)'s Birmingham-based $680
million asset Trust division.
Leading Renasant into the Tuscaloosa market will be Kyle Faught, who will serve as Tuscaloosa City
President, and Charity Golden, who
will serve as Vice President and Branch Manager.
"The addition of Kyle Faught and
Charity Golden to the Renasant team
gives us two established and well respected bankers in the
Tuscaloosa market, so we will hit
the ground running," said John
Bentley, North Central Alabama Area President for Renasant.
"We are honored to have Kyle and Charity leading our entrance
into this dynamic market as we look to quickly grow our market
share and become the financial services provider of choice for
Tuscaloosa."
Prior to joining Renasant, Faught served for over 25 years as an
executive at another financial institution. Faught attended
the University of Alabama, graduating
with a B.S. in business administration. He also attended the
Graduate School of Banking at LSU.
Faught contributes to his community through the Rotary Club of
Tuscaloosa, as a former Director
of the Tuscaloosa County Industrial Development Board Authority, as
a Graduate of Leadership Tuscaloosa and as a member of the 2011
United Way Campaign.
Prior to joining Renasant, Golden was Vice President and
Financial Center Leader for another regional bank. Golden
attended the University of Alabama,
graduating with a B.S. in finance. She also attended the Alabama
School of Banking.
Golden serves her community as past President and as a Board of
Directors member of T-Town PAWS, Inc., as a member of the Northport
Citizen of the Year Committee, as a member of the Tuscaloosa Chamber of Commerce and as a
current member of BNI.
"Over the past 12 months, we have taken advantage of many
opportunities to improve our profitability and expand our footprint
throughout the southeast and we look to capitalize on future growth
opportunities as they become available," said Renasant Chairman and
CEO, E. Robinson McGraw. "We
are committed to becoming the financial services provider of choice
in each and every market we serve."
ABOUT RENASANT:
Renasant Corporation, a 107-year-old financial services
institution, is the parent of Renasant Bank and Renasant Insurance.
Renasant has assets of approximately $4.3 billion and operates over 75 banking,
mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia. For more information please visit
www.renasantbank.com or the Company's IR site at
www.renasant.com.
NOTE TO
INVESTORS:
This news release may contain, or incorporate by reference,
statements which may 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. Such forward looking statements usually include words such
as "expects," "projects," "anticipates," "believes," "intends,"
"estimates," "strategy," "plan," "potential," "possible" and other
similar expressions.
Prospective investors are cautioned that any such
forward-looking statements are not guarantees for future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently
known to management that could cause actual results to differ
materially from those in forward-looking statements include
significant fluctuations in interest rates, inflation, economic
recession, significant changes in the federal and state legal and
regulatory environment, significant underperformance in our
portfolio of outstanding loans, and competition in our markets. We
undertake no 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.
Contacts:
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For
Media:
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For
Financials:
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John Oxford
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Stuart
Johnson
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Vice
President
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Senior
Executive
Vice
President
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Director
of External
Affairs
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Chief
Financial
Officer
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(662)
680-1219
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(662)
680-1472
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joxford@renasant.com
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stuartj@renasant.com
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SOURCE Renasant Corporation