Renasant Bank Acquires Republic Business Credit

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Tupelo, Miss, Jan. December 3, 2023 (GLOBE NEWSWIRE) — Renasant Corporation (NASDAQ: RNST ) (the “Company”) announced today that, effective December 30, 2022, its wholly owned subsidiary Renasant Bank Acquired Republic Business Credit (formally Continental Republic Capital, LLC) (“RBC”) in an all-cash transaction. RBC is a market-leading business finance company with average earning assets in excess of $100 million. Founded in 2011, RBC has grown into a leading independent, technology-enabled business finance platform, with over $8 billion in factoring alone since inception, providing factoring and asset-based financing to commercial borrowers nationwide Loan Solutions (“ABL”).

RBC will operate as an independent subsidiary of Renasant Bank and will continue to operate under and leverage its existing brand name. All current RBC leadership and employees are expected to remain, led by its co-founder and CEO Stewart Chesters, president Robert Meyers and chief operating officer Matthew Begley.

“We are pleased to welcome Republic Business Credit to Renasant Bank,” said Mitch Waycaster, President and Chief Executive Officer of Renasant Corporation. “Royal Bank of Canada has a proven track record of growth, profitability and strong asset quality. This partnership enables Renasant to add depth to a line of business where we have expertise and success.”

gentlemen. Chesters commented: “The RBC team is delighted to join the Renasant family. Together, we will support more SMEs under shared values ​​and discipline of credit. From Mitch Waycaster and Renasant From the initial meeting of the (Renasant) leadership team, we have had a natural cultural fit with the bank, which sets us up for future mutual success.”

RBC President Robert Meyers further added, “Renasant enables our team to continue to expand and provides incredible development opportunities for our employees.” Meyers continued, “This dynamic partnership with Renasant The relationship will expand our existing clients’ access to working capital and better serve our referral sources and private equity partnerships by offering additional products.”

Renasant is advised by Raymond James & Associates, Inc. and Phelps Dunbar LLP LLP. RBC was advised by the law firm of Hovde Group, LLC and Krieg Devault LLP. Terms of the deal were not disclosed.

About Regeneration Corporation:
Renasant Corporation is the parent company of Renasant Bank, a 119-year-old financial services institution. With approximately $16.5 billion in assets, Renasant operates 195 banking, lending, mortgage, wealth management and insurance offices in Mississippi, Tennessee, Alabama, Florida, Georgia, North Carolina and South Carolina place.

About Continental Republic Capital LLC:
Republic Business Credit is a nationally recognized business finance firm that supports the working capital needs of companies nationwide, including private equity and entrepreneurial ventures. Republic offers Asset Based Loans, Led Lines of Credit, Traditional Factoring, Factoring and Rapid AR Financing. Republic works with its clients to provide up to $15 million in senior credit lines to fast-growing businesses, start-ups and companies facing recoverable distress.

Republic’s expert and knowledgeable team is a 2015 recipient of the Nationally Recognized Business Growth Association’s Emerging Growth Company Award and also boasts four “Top 40 Under 40” winners, two “Top Women in Secured Finance” and a “Top Women in Asset-Based “Lending,” by Secured Finance Network and ABF Journal, respectively. Republic is headquartered in New Orleans with offices in Chicago, Los Angeles, and Houston.

Safe Harbor Language:

This press release may contain or incorporate by reference statements about Renasant Corporation that 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. Before, after or otherwise containing words such as “believe”, “anticipate”, “project”, “anticipate”, “intend”, “estimate”, “plan”, “potential”, “focus”, “may” statement”, “may increase”, “may fluctuate”, “may cause” and similar expressions, or future or conditional verbs such as “will”, “should”, “would” and “could”, usually Forward-looking in nature and not historical fact.Forward-looking statements include information about the company’s future financial performance, business strategy, projected plans and objectives, and are based on management’s current beliefs and expectations. Company management believes that these forward-looking statements are reasonable However, they are all inherently subject to significant business, economic and competitive risks and uncertainties, many of which are beyond the Company’s control. In addition, these forward-looking statements are subject to assumptions about future business strategies and decisions that may change Potential investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and therefore, investors should not place undue reliance on these forward-looking statements, which speak only as of the date on which they are made .

Investors are urged to carefully consider the risks described in the Company’s filings from time to time with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, available at www. Available at renasant.com and the SEC website at www.sec.gov. The company disclaims any obligation, and in particular disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information or to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results over time, except as required by the federal securities laws .

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