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Apr. 1 - Renassant Bank completes merger with Keyworth Bank

Category: Banking & Finance

Brunswick Business Journal Staff Report

April 1, 2016 - Renasant Corporation (NASDAQ: RNST) today announced that it has completed its merger with KeyWorth Bank, a bank headquartered in Johns Creek, Georgia.

The combined company now has approximately $8.3 billion in total assets with 178 banking, mortgage, wealth management, investment and insurance offices.

As of December 31, 2015, KeyWorth had approximately $408 million in assets, $252 million in loans and $355 million in deposits. The merger adds four banking locations, two loan production offices and a future banking location to be opened during the second quarter of 2016, all in the greater Atlanta metro area.

In 2015, Renasant acquired Heritage Financial Group, Inc., the parent of HeritageBank of the South, headquartered in Albany, Georgia, which enhanced Renasant’s presence in the metro markets of Birmingham, Alabama, and Atlanta, Georgia, with minimal existing overlap while providing entry into new markets, such as Albany, Statesboro, Macon, Valdosta, and Savannah, Georgia; Auburn, Alabama; and Ocala and Gainesville, Florida. Renasant currently has 171 locations in Mississippi, Alabama, Tennessee, Georgia and Florida.

"I'm proud to announce the completion of our merger with KeyWorth Bank, which greatly enhances our presence in the North Georgia and Atlanta market area. KeyWorth is a high quality commercial bank, with a strong credit culture and an attractive client base that provides us with additional scale and commercial banking expertise in the Atlanta market," said Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. "We are excited that KeyWorth is now officially part of Renasant Bank."

At this time, KeyWorth clients will be able to continue conducting their banking business as usual, including but not limited to, using existing branches, debit cards, checks, ATMs and making loan payments until conversion is complete. The Company has set up an FAQ for clients to obtain useful information about the transition at www.renasantbank.com.

Renasant Corporation is the parent of Renasant Bank, a 112-year-old financial services institution in Mississippi, Tennessee, Alabama, Florida and Georgia.

“We look forward to a bright future of stronger growth, prosperous communities, and lifelong relationships,” explains Chairman, President & CEO, E. Robinson McGraw, “At Renasant, we truly believe in the calling of serving our employees, board members, shareholders, employees, clients, and our communities through first understanding their needs and then meeting them.”

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