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Employee Benefit and Deferred Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of information relating to the defined benefit pension plan and post-retirement health and life plans
The following table presents information relating to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits - Renasant”) and the post-retirement health and life plan (“Other Benefits”) as of December 31, 2023 and 2022:
 Pension Benefits RenasantOther Benefits
 2023202220232022
Change in benefit obligation
Benefit obligation at beginning of year$21,230 $27,567 $551 $586 
Service cost— — 
Interest cost995 738 22 12 
Plan participants’ contributions— — 49 85 
Actuarial loss (gain)74 (5,256)(21)(48)
Benefits paid(2,104)(1,819)(90)(88)
Benefit obligation at end of year$20,195 $21,230 $512 $551 
Change in fair value of plan assets
Fair value of plan assets at beginning of year$20,854 $30,399 
Actual return on plan assets1,369 (7,726)
Contribution by employer— — 
Benefits paid(2,104)(1,819)
Fair value of plan assets at end of year$20,119 $20,854 
Funded status at end of year$(76)$(376)$(512)$(551)
Weighted-average assumptions as of December 31
Discount rate used to determine the benefit obligation4.74 %4.94 %4.53 %4.74 %
Schedule of 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 years ended December 31, 2023, 2022 and 2021 are as follows: 
 Pension Benefits RenasantOther Benefits
 202320222021202320222021
Service cost$$$$1$4$5
Interest cost995738682221214
Expected return on plan assets(1,236)(1,684)(1,768)
Recognized actuarial loss (gain)523243265(61)(76)(3)
Net periodic benefit cost282(703)(821)(38)(60)16
Net actuarial (gain) loss arising during the period(60)4,155577(20)(48)(221)
Amortization of net actuarial (loss) gain recognized in net periodic pension cost(523)(243)(265)61763
Total recognized in other comprehensive income(583)3,9123124128(218)
Total recognized in net periodic benefit cost and other comprehensive income$(301)$3,209$(509)$3$(32)$(202)
Weighted-average assumptions as of December 31
Discount rate used to determine net periodic pension cost4.94 %2.79 %2.44 %4.74 %2.35 %1.77 %
Expected return on plan assets6.25 %5.75 %6.00 %N/AN/AN/A
Schedule of 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 other benefits are as follows:
Pension Benefits RenasantOther
Benefits
2024$2,081 $85 
20252,023 104 
20261,933 87 
20271,860 74 
20281,844 50 
2029 - 20338,048 170 
Schedule of amounts recognized in accumulated other comprehensive income, net of tax
Amounts recognized in accumulated other comprehensive income, before tax, for the year ended December 31, 2023 are as follows:
Pension Benefits RenasantOther
Benefits
Prior service cost$— $— 
Actuarial loss (gain)10,723 (230)
Total$10,723 $(230)
Schedule of estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost
The estimated costs that will be amortized from accumulated other comprehensive income into net periodic benefit cost during 2024 are as follows:
Pension Benefits RenasantOther
Benefits
Prior service cost$— $— 
Actuarial loss (gain) (517)94 
Total$(517)$94 
Schedule of fair values of defined benefit pension plan assets by category of the firm
Quoted Prices In
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Measured at net asset value per share (“NAV”)
Totals
December 31, 2023
Cash and cash equivalents$1,042 $— $— $— $1,042 
Investments in collective trusts— — — 17,830 17,830 
U.S. government securities— 47 — — 47 
Corporate stocks1,200 — — — 1,200 
$2,242 $47 $— $17,830 $20,119 
Quoted Prices In
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Measured at NAVTotals
December 31, 2022
Cash and cash equivalents$66 $— $— $— $66 
Investments in collective trusts— — — 20,788 20,788 
$66 $— $— $20,788 $20,854 
Summarizes information about options issued under the long-term equity incentive plan The following table summarizes information about options outstanding, exercised and forfeited as of and for the year ended December 31, 2021: 
 SharesWeighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
Aggregate
Intrinsic
Value
Outstanding at January 1, 202110,500 $14.96 
Granted— — 
Exercised(10,500)14.96 
Forfeited— — 
Outstanding at December 31, 2021— $— 0.00$— 
Exercisable at December 31, 2021— $— 0.00$— 
Summary of the changes in stock options and restricted stock The following table summarizes the changes in restricted stock as of and for the year ended December 31, 2023:
Performance-
Based
Restricted
Stock
Weighted
Average
Grant-Date
Fair Value
Time-
Based
Restricted
Stock
Weighted
Average
Grant-Date
Fair Value
Not vested at beginning of year155,838 $36.23 680,403 $36.23 
Awarded90,067 34.56 344,117 35.22 
Vested(76,330)33.93 (213,452)34.78 
Forfeited and cancelled— — (31,504)35.67 
Not vested at end of year169,575 $36.38 779,564 $36.20