Tupelo, Miss.-based Renasant Corp. on Jan. 21 posted net income of $38.7 million, or 67 cents per share, for the fourth quarter of 2019, compared to $44.4 million, or 76 cents per share, in the fourth quarter of 2018.
The S&P Global Market Intelligence consensus GAAP EPS estimate was 66 cents for the recent quarter.
Renasant said its net income for the fourth quarter of 2019 includes about $3.5 million in after-tax expense related to team members that have joined the company in 2019. It said the expense related to these hires decreased EPS by 6 cents for the fourth quarter of 2019.
Net interest margin declined year over year to 3.90% from 4.24%. Net interest margin was 3.98% in the third quarter of 2019.
Total loans stood at $9.69 billion at the end of the fourth quarter of 2019, compared to $9.31 billion at the end of the linked quarter and $9.08 billion a year earlier.
Total deposits were $10.21 billion, compared to $10.29 billion at the end of the previous quarter and $10.13 billion a year ago.
For full year 2019, the company reported net income of $167.9 million, or $2.88 per share, compared to $146.9 million, or $2.79 per share, in the previous year.
The S&P Global Market Intelligence consensus GAAP EPS estimate was $2.87 for the year.