Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

(In Thousands)

Merger with KeyWorth Bank

On October 20, 2015, the Company and KeyWorth Bank ("KeyWorth"), a Georgia state bank headquartered in Atlanta, Georga, jointly announced the signing of a definitive merger agreement pursuant to which the Company will acquire KeyWorth in an all-stock merger in a transaction valued at approximately $58,700. Under the terms of the agreement, KeyWorth will be merged with and into Renasant Bank, with Renasant Bank continuing as the surviving institution in the Merger.

According to the terms of the merger agreement, each KeyWorth common shareholder will have the right to receive 0.4494 shares of Renasant common stock for each share of KeyWorth common stock, and the merger is expected to qualify as a tax-free reorganization for KeyWorth shareholders.

KeyWorth operates six offices in the Atlanta metropolitan area and as of September 30, 2015, had approximately $392,101 in total assets, which included approximately $249,578 in total loans, and approximately$339,143 in total deposits.

The acquisition is expected to close in the first quarter of 2016 and is subject to regulatory approval, KeyWorth shareholder approval, and other customary conditions set forth in the merger agreement.