Monitor the filing of the S-4 registration statement and the proxy statement/prospectus for details on the shareholder vote and regulatory approval timeline. The deal is expected to close in Q1 2027, but any delays in regulatory approvals or shareholder dissent could impact the timeline.
Price Chart
Executive Summary
Renasant Corporation (RNST) filed this Rule 425 communication to announce its acquisition of Commercial Holding Company, parent of Commercial Bank & Trust, for a fixed exchange ratio of 0.8798 RNST shares per Commercial share plus a pre-close special cash dividend of approximately $35.7 million, implying an aggregate transaction value of about $142 million. The deal will add ~$1.1 billion in assets, $648 million in loans, and $983 million in deposits, strengthening Renasant's West Tennessee franchise. The merger is expected to close in Q1 2027, subject to regulatory and shareholder approvals.
Key Financial Metrics
Key Facts
- Renasant to acquire Commercial Holding Company for 0.8798 RNST shares per Commercial share plus a ~$35.7 million special cash dividend
- Aggregate transaction value approximately $142 million based on RNST 10-day average closing price of $40.29 as of October 26, 2026
- Commercial Bank has ~$1.1 billion in assets, $648 million in loans, $983 million in deposits, and $1.2 billion in assets under management
- Pro forma combined company will have ~$28.6 billion in total assets, $20.4 billion in loans, and $22.6 billion in deposits
- Merger expected to close in Q1 2027, subject to regulatory approvals and Commercial shareholder approval
- Directors of Commercial holding 50% of outstanding voting shares have entered into voting agreements to support the deal
- Commercial's Chairman and CEO Roy Molitor Ford Jr. expected to join Renasant in a market executive role post-closing
- Termination fee of $7 million payable by Commercial under certain circumstances
Financial Impact
Aggregate transaction value of approximately $142 million, consisting of ~2.64 million RNST shares (valued at ~$106.3 million based on $40.29 reference price) plus a $35.7 million special cash dividend
Risk Factors
- Failure to obtain required regulatory approvals from the Federal Reserve and Mississippi DBCF
- Failure to obtain Commercial shareholder approval
- Potential imposition of a Burdensome Condition by regulators that could delay or prevent closing
- Risk that the anticipated benefits of the merger are not realized due to integration challenges or economic conditions
- Potential dilutive effect of RNST shares issued in the transaction
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-434449 |
| Document: 0001193125-26-434449-index-headers.html | 0001193125-26-434449 |
| Document: 0001193125-26-434449-index.html | 0001193125-26-434449 |
| Document: 0001193125-26-434449.txt | 0001193125-26-434449 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 3d ago | 425 | $40.26 $39.93 | ▼ −0.82% | ▲ +0.95% | $39.93 (−0.82%) |
Oct 27, 2026 4d ago | 425 | $40.19 $40.26 | ▲ +0.17% | ▲ +0.56% | $39.93 (−0.65%) |
Oct 27, 2026 4d ago | 425 | $40.19 $40.26 | ▲ +0.17% | ▲ +0.56% | $39.93 (−0.65%) |
Oct 27, 2026 4d ago | 8-K | $40.19 $40.26 | ▲ +0.17% | ▲ +0.56% | $39.93 (−0.65%) |
Oct 27, 2026 4d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 27, 2026 4d ago | Press Release | $40.19 $40.26 | ▲ +0.17% | ▲ +0.56% | $39.93 (−0.65%) |
Oct 27, 2026 4d ago | Press Release | $40.19 $40.26 | ▼ −0.17% | ▼ −0.56% | $39.93 (+0.65%) |
Oct 6, 2026 25d ago | 3 | $39.40 $38.88 | ▼ −1.32% | ▼ −1.08% | $39.93 (+1.35%) |
Aug 25, 2026 9w ago | Press Release | $41.04 $41.27 | ▲ +0.56% | ▼ −0.09% | $39.93 (−2.70%) |
Aug 6, 2026 12w ago | 8-K | $43.30 $42.73 | ▼ −1.32% | ▼ −1.93% | $39.93 (−7.78%) |
US Market Status
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