Renasant to Acquire Commercial Holding Company in ~$142M All-Stock Deal
RNST sits 26% above its 52-week low of $33.04.
Summary
Renasant agreed to acquire Commercial Holding Company, parent of Commercial Bank & Trust, in a stock deal valued at roughly $142 million including a $35.7 million special dividend — adding about $1.1 billion in assets and $983 million in West Tennessee deposits, with closing expected in Q1 2027.
Key Events · M&A and Partnerships · RNST
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Renasant to Buy Commercial Holding
Definitive merger agreement signed October 27, 2026: Commercial merges into Renasant, then Commercial Bank & Trust merges into Renasant Bank. Commercial holders receive 0.8798 RNST shares per share, about 2.64 million RNST shares in aggregate.
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Deal Valued at ~$142M
Aggregate transaction value of approximately $142 million includes a pre-close special cash dividend of about $35.7 million, based on the RNST 10-day average closing price of $40.29 as of October 26, 2026. That works out to 1.63x tangible common equity and 12.1x tax-effected LTM earnings.
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Target Adds $983M of Deposits
Commercial Bank had approximately $1.1 billion in assets, $648 million in loans and $983 million in deposits across nine West Tennessee branches as of September 30, 2026, plus $1.2 billion in trust and wealth AUM. Pro forma, Renasant would hold about $28.6 billion in assets and $22.6 billion in deposits.
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Accretion With Modest Book Dilution
Management projects roughly 4% 2028E EPS accretion, less than 1.5% tangible book value dilution at close and a roughly two-year TBV earnback, assuming 25% cost savings (50% realized in 2027) and $19.0 million of after-tax merger charges.
Analysis · RNST · Finance
Renasant is buying a 149-year-old West Tennessee bank for about $142 million in stock plus a $35.7 million pre-close cash dividend, adding roughly $1.1 billion of assets and $983 million of deposits concentrated in Memphis and Jackson. The price is modest — 1.63x tangible common equity and 12.1x tax-effected LTM earnings, or 7.7x after cost savings — and management guides to about 4% EPS accretion in 2028 with less than 1.5% tangible book dilution and a roughly two-year earnback. The trade-off is execution: the deal needs Federal Reserve and Mississippi DBCF approvals plus a Commercial shareholder vote, and Renasant is still working through the material weakness in internal control over financial reporting previously disclosed in its 2025 10-K. Closing is targeted for the first quarter of 2027.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, RNST was trading at $41.58 on NYSE in the Finance sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $33.04 to $44.54. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.