RENASANT CORPORATION (NASDAQ:RNST) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.
subsidiary of Renasant Corporation (the Company), entered into a
termination agreement with the Federal Deposit Insurance
Corporation (the FDIC) providing for the early termination of
each of Renasant Banks loss share agreements with the FDIC. The
loss share agreements were related to Renasant Banks acquisition
of assets and assumption of liabilities of two failed banks
through FDIC-assisted transactions in 2010 and 2011. Also
included in the termination agreement were two FDIC loss share
agreements Renasant Bank assumed as a result of its 2015
acquisition of Heritage Financial Group, Inc.
approximately $4.8 million to the FDIC as consideration for the
early termination of the loss share agreements. All rights and
obligations of Renasant Bank and the FDIC under the loss share
agreements have been eliminated under the termination agreement.
complete and is qualified in its entirety by reference to the
agreement itself, a copy of which is filed as Exhibit 10.1 hereto
and incorporated herein by reference.
announcing Renasant Banks entry into the termination agreement
with the FDIC. A copy of such press release is furnished as
Exhibit 99.1 to this report and incorporated herein by reference.
information in this Item 7.01, including Exhibit 99.1, 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 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.
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Exhibit Number
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Description of Exhibit
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10.1
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Termination Agreement among the Federal Deposit
Insurance Corporation, in its capacity as receiver of each of Crescent Bank Trust Company, Jasper, Georgia, American Trust Bank, Roswell, Georgia, Citizens Bank of Effingham, Springfield, Georgia, and First Southern National Bank, Statesboro, Georgia, the Federal Deposit Insurance Corporation and Renasant Bank dated as of December 8, 2016 |
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99.1
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Press release dated December 8, 2016
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About RENASANT CORPORATION (NASDAQ:RNST)
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc. (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment. The Community Banks segment offers a range of banking and financial services to individuals and small to medium-sized businesses. The Insurance segment includes an insurance agency offering all lines of commercial and personal insurance through major carriers. The Wealth Management segment offers a range of fiduciary services, which includes the administration and management of trust accounts, including personal and corporate benefit accounts, self-directed individual retirement accounts (IRAs), and custodial accounts. In addition, the Wealth Management segment offers annuities, mutual funds and other investment services through a third-party broker-dealer. RENASANT CORPORATION (NASDAQ:RNST) Recent Trading Information
RENASANT CORPORATION (NASDAQ:RNST) closed its last trading session up +0.44 at 44.62 with 201,543 shares trading hands.
