Renasant to Acquire Commercial Bank & Trust in $142M Deal, Expanding Memphis Footprint

Renasant Corp. (RNST) announced Tuesday it will acquire Commercial Bank & Trust Co. in a $142 million deal expected to close in the first quarter of 2027, adding nine branches in western Tennessee, including two in Memphis. The Tupelo, Mississippi-based lender gains a trust and wealth management business with $1.2 billion in assets under management and a franchise carrying a 19.6% common equity tier 1 ratio. The deal lifts Renasant's total assets to $28.6 billion, with $20.4 billion in loans and $22.6 billion in deposits, and expands its Tennessee footprint to 28 locations and about $2.6 billion in deposits. Under the terms, Commercial shareholders will receive 0.8798 Renasant shares per share held. The deal value is based on Renasant's 10-day average closing price of $40.29 from Monday and includes a roughly $35.7 million cash dividend Commercial will pay shareholders before closing. Commercial CEO Mott Ford is expected to join Renasant in a market executive role. The transaction marks Renasant's first acquisition since buying The First Bancshares for about $1.2 billion in 2025.