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Employee Benefit and Deferred Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Information relating to the defined benefit pension plan and post-retirement health and life plans
Information relating to the legacy Renasant defined benefit pension plan (“Pension Benefits - Renasant”), the assumed HeritageBank defined benefit pension plan (“Pension Benefits - HeritageBank”) and post-retirement health and life plan (“Other Benefits”) as of December 31, 2017 and 2016 is as follows:
 
Pension Benefits Renasant
 
Pension Benefits HeritageBank(2)
 
Other Benefits
 
2017
 
2016
 
2016
 
2017
 
2016
Change in benefit obligation
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
28,012

 
$
27,856

 
$
12,913

 
$
1,566

 
$
1,704

Service cost
—

 
—

 
—

 
9

 
12

Interest cost
1,168

 
1,216

 
172

 
42

 
58

Plan participants’ contributions
—

 
—

 
—

 
77

 
76

Actuarial loss (gain)
582

 
(115
)
 
(481
)
 
(328
)
 
(56
)
Benefits paid
(1,903
)
 
(2,018
)
 
(22
)
 
(196
)
 
(228
)
Settlements(1)
—

 
—

 
(11,509
)
 
—

 
—

Transfer from HeritageBank Pension Plan
—

 
1,073

 
(1,073
)
 
—

 
—

Benefit obligation at end of year
$
27,859

 
$
28,012

 
$
—

 
$
1,170

 
$
1,566

Change in fair value of plan assets
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
25,241

 
$
24,434

 
$
12,458

 
 
 
 
Actual return on plan assets
3,575

 
1,752

 
29

 
 
 
 
Contribution by employer
—

 
—

 
142

 
 
 
 
Benefits paid
(1,903
)
 
(2,018
)
 
(22
)
 
 
 
 
Settlements(1)
—

 
—

 
(11,509
)
 
 
 
 
Expenses paid from plan trust
—

 
—

 
(25
)
 
 
 
 
Transfer from HeritageBank Pension Plan
—

 
1,073

 
(1,073
)
 
 
 
 
Fair value of plan assets at end of year
$
26,913

 
$
25,241

 
$
—

 
 
 
 
Funded status at end of year
$
(946
)
 
$
(2,771
)
 
$
—

 
$
(1,170
)
 
$
(1,566
)
Weighted-average assumptions as of December 31
 
 
 
 
 
 
 
 
 
Discount rate used to determine the benefit obligation
3.96
%
 
4.35
%
 
—
%
 
3.37
%
 
3.57
%

(1)
Settlements from the HeritageBank defined benefit pension plan represent the lump sum payments made to participants upon final distribution of benefits as a result of the plan’s termination.
(2)
Because final distribution of all benefits under the HeritageBank defined benefit pension plan was completed in August 2016, there was no impact on the Company’s consolidated financial statements as of and for the year ended December 31, 2017.
Plan expense for noncontributory benefit pension plan and post-retirement health and life plans
The components of net periodic benefit cost and other amounts recognized in other comprehensive income for the defined benefit pension and post-retirement health and life plans for the year ended December 31, 2017, 2016 and 2015 are as follows: 
 
Pension Benefits Renasant
 
Pension Benefits HeritageBank(1)
 
Other Benefits
 
2017
 
2016
 
2015
 
2016
 
2015
 
2017
 
2016
 
2015
Service cost
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
9

 
$
12

 
$
17

Interest cost
1,168

 
1,216

 
1,095

 
172

 
305

 
42

 
58

 
60

Expected return on plan assets
(1,941
)
 
(1,872
)
 
(2,040
)
 
(113
)
 
(216
)
 
—

 
—

 
—

Prior service cost recognized
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Recognized actuarial loss
401

 
404

 
331

 
—

 
—

 
6

 
76

 
101

Settlement/curtailment/termination losses
—

 
—

 
—

 
(780
)
 
(65
)
 
—

 
—

 
—

Net periodic benefit cost
(372
)
 
(252
)
 
(614
)
 
(721
)
 
24

 
57

 
146

 
178

Net actuarial loss/(gain) arising during the period
(1,051
)
 
5

 
2,812

 
(397
)
 
(448
)
 
(328
)
 
(56
)
 
(37
)
Net Settlement/curtailment/termination losses
—

 
—

 
—

 
780

 
65

 
—

 
—

 
—

Amortization of net actuarial loss recognized in net periodic pension cost
(401
)
 
(404
)
 
(331
)
 
—

 
—

 
(6
)
 
(76
)
 
(101
)
Total recognized in other comprehensive income
(1,452
)
 
(399
)
 
2,481

 
383

 
(383
)
 
(334
)
 
(132
)
 
(138
)
Total recognized in net periodic benefit cost and other comprehensive income
$
(1,824
)
 
$
(651
)
 
$
1,867

 
$
(338
)
 
$
(359
)
 
$
(277
)
 
$
14

 
$
40

Weighted-average assumptions as of December 31
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate used to determine net periodic pension cost
4.35
%
 
4.56
%
 
4.00
%
 
4.27
%
 
4.00
%
 
3.57
%
 
3.63
%
 
3.22
%
Expected return on plan assets
8.00
%
 
8.00
%
 
8.00
%
 
3.00
%
 
3.00
%
 
N/A

 
N/A

 
N/A


(1)
Because final distribution of all benefits under the HeritageBank defined benefit pension plan was completed in August 2016, there was no impact on the Company’s consolidated financial statements as of and for the year ended December 31, 2017.
Future estimated benefit payments under the defined benefit pension plan and post-retirement health and life plan
Future estimated benefit payments under the Renasant defined benefit pension plan and post-retirement health and life plan are as follows:
 
Pension Benefits Renasant
 
Other
Benefits
2018
$
2,019

 
$
214

2019
2,036

 
182

2020
2,043

 
151

2021
2,048

 
148

2022
2,033

 
120

2023 - 2027
9,659

 
386
Amounts recognized in accumulated other comprehensive income, net of tax
Amounts recognized in accumulated other comprehensive income, before tax, for the year ended December 31, 2017 are as follows:
 
Pension Benefits Renasant
 
Other
Benefits
Prior service cost
$
—

 
$
—

Actuarial loss
10,063

 
85

Total
$
10,063

 
$
85
Estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost
The estimated costs that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are as follows:
 
Pension Benefits Renasant
 
Other
Benefits
Prior service cost
$
—

 
$
—

Actuarial loss
349

 
—

Total
$
349

 
$
—
Fair values of defined benefit pension plan assets by category of the firm
The fair values of these instruments are based on quoted market prices of similar instruments or a discounted cash flow model (Level 2).
 
Quoted Prices In
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Totals
December 31, 2017
 
 
 
 
 
 
 
Cash and cash equivalents
$
387

 
$
—

 
$
—

 
$
387

U.S. government securities
—

 
2,496

 
—

 
2,496

Corporate debt
—

 
1,908

 
—

 
1,908

Corporate stocks
20,557

 
—

 
—

 
20,557

Investments in registered investment companies
921

 
—

 
—

 
921

Foreign obligations
—

 
644

 
—

 
644

 
$
21,865

 
$
5,048

 
$
—

 
$
26,913


 
Quoted Prices In
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Totals
December 31, 2016
 
 
 
 
 
 
 
Cash and cash equivalents
$
1,639

 
$
—

 
$
—

 
$
1,639

U.S. government securities
—

 
2,270

 
—

 
2,270

Corporate debt
—

 
1,991

 
—

 
1,991

Corporate stocks
17,823

 
—

 
—

 
17,823

Investments in registered investment companies
871

 
—

 
—

 
871

Foreign obligations
—

 
647

 
—

 
647

 
$
20,333

 
$
4,908

 
$
—

 
$
25,241
Summarizes information about options issued under the long-term equity incentive plan
n March 2011, the Company adopted a long-term equity incentive plan, which provides for the grant of stock options and the award of restricted stoc
Summary of the changes in restricted stock
The following table summarizes the changes in restricted stock as of and for the year ended December 31, 2017:
 
Performance-
Based
Restricted
Stock(1)
 
Weighted
Average
Grant-Date
Fair Value
 
Time-
Based
Restricted
Stock
 
Weighted
Average
Grant-Date
Fair Value
Nonvested at beginning of year
—

 
$
—

 
117,345

 
$
31.76

Granted
57,204

 
42.22

 
153,270

 
42.81

Vested
(55,204
)
 
42.22

 
(43,305
)
 
32.36

Cancelled
(2,000
)
 
42.22

 
(9,235
)
 
39.49

Nonvested at end of year
—

 
$
—

 
218,075

 
$
39.08

(1) In January 2017, the Company awarded 54,450 shares of performance-based restricted stock based on the target level of performance goals of which 2,000 were cancelled prior to the attainment of performance goals. The Company exceeded the financial performance measures for the award; therefore, an additional 2,754 shares were issued for a total award of 55,204 shares.