Sep 04

Renasant Offers Small Business Workshop

9-18-14---How-Do-I-Make-MoneyBIRMINGHAM, AL – Renasant Bank will host a FREE workshop for small business owners on September 18 from 9:30 to 11:00 at the Birmingham Central Library.  The topic will be How Do I Make Money with My Website.  The session will be led by Andrea Walker, Corporate Communications Manager, Walter Energy.  She will share strategies to effectively utilize your company’s online presence to gain more customers and make the most of your website. 

To register, please visit: http://movetogreaterservice.com/smallbiz

This is the second in a free six-part entrepreneurial success series that Renasant Bank is hosting to help small businesses succeed. Series topics include Financial Management, Networking and Relationship Building, Social Media, Tax Information, Business Plan Components, Human Resources and Access to Capital.

Renasant staff and local experts are leading these valuable learning sessions throughout the Birmingham and Shelby County communities. The event is co-sponsored by Birmingham Public Library System and Trudy Phillips Consulting.  Complimentary refreshments will be served.

Tracey Morant Adams, Senior Vice President Small Business and Community Development Director said of the series, ‘This free series is part of Renasant Bank’s continuing commitment to further the success of small business owners and entrepreneurs in our area. We are pleased to provide valuable tools and insight to help our local community businesses thrive and flourish.”

 

 Future sessions include:

Oct. 23, 2014        Financing, Lending Sources and Credit                             Pratt City Library

Nov. 20, 2014       Self-employed & Small Business Tax Workshop               Woodlawn Public Library

Jan. 15, 2015       One-Page Business Plan with Financial Projections          Alabaster City Hall

Feb. 12, 2015       Contract Employees vs. Full Time Employees                   Avondale Public Library

 

To register for any of the sessions, please visit: http://movetogreaterservice.com/smallbiz

 

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank, a 110-year-old financial services institution, and Renasant Insurance. Renasant has assets of approximately $5.8 billion and operates more than 120 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia. For more information please visit www.renasantbank.com or the Company’s IR site at www.renasant.com.

Jul 16

Renasant Corporation announces record second quarter earnings.

Q2 Earnings

Jul 14

Renasant Business Credit Welcomes David Ellington

RenasantBankbw                                                   NEWS

 

P.O. Box 709 • Tupelo, MS • 38802-0709
Phone (662) 680-1219 • Fax (662) 680-1231

www.renasantbank.com
NASDAQ: RNST

CONTACT: Vivan Terry
Phone (205) 824-3813

FOR IMMEDIATE RELEASE
July 9, 2014

Renasant Business Credit Welcomes David Ellington

Atlanta, GA – Renasant Business Credit is pleased to announce the addition of David Ellington to their asset based lending team in Atlanta. David has assumed the role of Portfolio Analyst in which he will provide broad based support to the ABL Operations,  Originations, Underwriting and Relationship Management teams.

David has an BA Degree in Accounting from Furman University in Greenville, SC and has previous financial services industry experience.

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit of  $2 million and higher to lower middle-market companies throughout the Southeast.

ABOUT RENASANT CORPORATION:

Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $5.7 billion and operates over 120banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia. For more information please visit www.renasantbank.com or the Company’s IR site at www.renasant.com.

 

Jul 09

Renasant Business Credit Funds $4.5 million Revolver

RenasantBankbw                                                   NEWS

 

P.O. Box 709 • Tupelo, MS • 38802-0709
Phone (662) 680-1219 • Fax (662) 680-1231

www.renasantbank.com
NASDAQ: RNST

CONTACT: Vivan Terry
Phone (205) 824-3813

FOR IMMEDIATE RELEASE
July 9, 2014

Renasant Business Credit Funds $4.5 million Revolver

Atlanta, GA – Renasant Business Credit is pleased to announce the funding of a $4.5 million asset-based revolving line of credit for a company based in Georgia serving the needs of utility companies throughout the South and Mid-Atlantic regions. 

The borrower was able to significantly increase its loan availability, lower its all-in cost of working capital and reduce collateral reporting requirements as part of the new lending relationship. 

“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the E.V.P. and Division Manager. He added, “In this particular case, we were able to offer increased availability on a portion of the Accounts Receivable due to the unique nature of the business model and the company’s strong customer base.  The borrower will also enjoy a much more cohesive and streamlined treasury management process as a result of their new banking relationship with Renasant.” This relationship was originated, underwritten and will be managed by SVP Bill Drmacich.

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit starting from $2 million (and up) to lower and middle market companies throughout the Southeast.

About Renasant Corporation:

Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $5.9 billion and operates over 120banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia. For more information please visit www.renasantbank.com or the Company’s IR site at www.renasant.com.

Jun 17

Renasant Business Credit Funds $3 million Revolver

RenasantBankbwNEWS

 

 

 

P.O. Box 709 • Tupelo, MS • 38802-0709
Phone (662) 680-1219 • Fax (662) 680-1231

Renasant Business Credit Funds $3 million Revolver

Atlanta, GA – Renasant Business Credit is pleased to announce the funding of a $3 million asset-based revolving line of credit for an electrical and industrial wholesale distribution supply company based in Georgia. 

The borrower was able to significantly increase their loan availability, lower their all-in cost of working capital and reduce their collateral reporting requirements as part of the new lending relationship. 

“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the E.V.P. and Division Manager. He added, “The borrower will also enjoy a much more cohesive and streamlined treasury management process as a result of their new banking relationship with Renasant.”

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit from $2-10 million (and more) to lower and mid-market companies throughout the Southeast.

About Renasant Corporation:

Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $5.9 billion and operates over 120 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia. For more information please visit www.renasantbank.com or the Company’s IR site at www.renasant.com.

Jun 06

Handy Ways to Save Money on Vacation

According to American Express’ 2013 survey, the average amount that an American spends on summer vacation was approximately $1,145, and that number jumps to $4,580 for a family of four. As we enter the summer months of 2014, it’s good to keep in mind that there are great ways to lessen the financial impact of your vacation. If you want to stay thrifty, follow these five tips:

Start with your travel budget

Conduct a home budget analysis weeks or even months before your summer trip to determine how much you and your family can really afford to spend on vacation. Things can quickly add up if you decide to wing it and use credit cards for frequent purchases, so it’s good to check and see if you have set aside enough cash. (Remember that this money shouldn’t come from an emergency fund!)

Determining a good amount for travel expense depends on your lifestyle and financial situation but start with the figure mentioned above, $1,145 per person. Then see where you stand in relation to that. Open a savings account for your vacation expenses and contribute a percentage of your paycheck to it each month.

Search websites for travel deals

When it comes to big-ticket travel items such as airfare and hotels, deals come in bulk. Some sites offer up to 45% off when you book a combination of a flight, rental car and/or hotel. Vacation packages are also available for places currently in their official off-season, including the U.S. Virgin Islands. Check for packages on airline websites too, since they tend to team up with hotels and other companies to offer travelers a more straightforward way to save on their trips.

Deals for smaller, travel-related expenses, such as daytime activities and food, can be found on sites like LivingSocial and Groupon or even local activity websites. Search around before booking and be sure to pay attention to strict expiration dates or blackout dates.

Pack lightly and efficiently

Make a list, pack and check the list. If you tend to pack in a rush, you may want to give yourself an extra day to finish. The goal is to have every item on your list in your bag the night before and to lay out any clothes and toiletries you’ll need for the morning. It’s nice when you don’t need to buy another swimsuit, shampoo or pair of socks for your trip. Pack some extras in anticipation of an unusual change in weather or in the event of a last-minute change in your travel itinerary.

Cut down on food costs

Once you start traveling, the cost of food can add up quickly. Ways to remedy this include keeping track of meals per day, buying more meal staples such as fruits and nuts for periodic snacks, and looking out for less expensive restaurants or vendors. If you find yourself with a kitchen at your hotel or other accommodations, take full advantage of cooking. It may even become an adventure in itself. Just be sure to avoid snacking on the mini bars or relying on room service when you can.

Ultimately, it’s up to you how you spend your vacation. But bear in mind that you can make it fun without going into debt.

Guest Post by:

Nora Tarte, NerdWallet

Mar 31

How to Keep Your Money Safe

According to the U.S. Department of Justice, millions of people fall victim to fraud each year. When it comes to your money, you can never be too careful about preventing fraud. next time you make a transaction or log into your online bank account consider these 5 steps courtesy of Laura Woods at NerdWallet:

1.) Exercise caution with passwords

While it’s easier to use the same password for every online account, it puts you at risk for fraud. Avoid using the same password for any two accounts containing sensitive information. It’s also wise to change your passwords often, as an extra security measure. While you change passwords, avoid any easy passwords such as “123456” or “password”, which top Splashdata’s list of the worst passwords of 2013.

2.) Be a savvy online shopper

Shopping online is quick, easy and convenient, but it’s important to do it wisely. Only shop at reputable, secure sites that you trust, whenever possible. If you question the legitimacy of a company or a person even the slightest, do an online search to ensure they’re reputable. And remember to always choose a credit card over a debit card when paying online, as it limits your liability in case of theft. Review all your credit card statements in a timely manner to ensure no unauthorized charges are made.

3.) Go straight to the source, instead of through an email

Online criminals are notorious for sending emails that look exactly like ones from your bank, credit card company or other financial institutions in an attempt to access your personal data. As these emails can be very difficult to distinguish from legitimate ones, it’s always wise to go straight to the site itself, instead of clicking a link in an email. One click can give criminals access to your personal data, essentially providing them with the key information to your online financial accounts.

4.) Demand extra security

Not all cashiers ask to see your ID when paying with a credit or debit card. This means anyone who gets their hands on your card can typically get away with using it for in-store purchases. Combat this by writing “see ID” on the back of your card, so cashiers are forced to ask for it. While it may cause you a little extra hassle, it’s well worth it to keep your money safe, as there’s little chance a thief will be able to produce another form of identification with your name on it ─ especially one that matches your signature.

5.) Shred important documents before tossing

If you think your trash is safe from theft ─ think again. Throwing away credit card offers, old bank statements, utility bills, and other documents containing your personal information gives dumpster divers easy access to your data. Criminals can use this data to open credit cards in your name, using their own contact information, so you’ll never even know it happened until you check your credit report.

Fight back against fraud

You can never be too careful when safeguarding your assets against fraud. It’s important to always be on your guard to ensure all your bases are covered. When the safety of your money is in question, it’s much better to be overly cautious.

Feb 26

Retirement Tips for Every Stage of Life

The best place to retire in the entire world is Switzerland. That’s according to research fielded by Nataxis Global Management. The ranking is based on 20 key trends broken out from four broad categories: Health and health care quality, personal income and finances, quality of life and socio-economic factors. The United States barely made it into the top twenty, ranking number 19.

While the Swiss Alps are astounding, we enjoy our (usually) mild Southern winters too much to make that move.

But the research underscores the reality that, as Americans, we have to work harder than ever to gain financial security in retirement. Consider the path to life after work in every stage of life:

Single, pre-family

No doubt, this will be one of two debt-reduction stages in your life. It is quite likely you have amassed quite a bit of credit card debt through your college years and transition to full-time employment. We won’t even mention the student loans.

Now that you have that first (or second) full-time building-a-career-job, you will have two priorities: reducing debt and taking the entrance ramp on to the road to retirement.

There are plenty of blogs to inspire your credit card payoff plan; it’s just a matter of getting serious about it. And the retirement highway is marked with a sign reading “401(k).” If your employer offers one, sign up if you haven’t already, and defer at least as much salary as it takes to gain every dollar of any employer match. If the company you work for doesn’t offer a match, contribute as much as you can without breaking a no-doubt bare-bones budget.

That will probably be as much as you can handle in this first stage of life before true love.

Married with children

And then there are two. You and your significant other; and than a dog. Followed by a family. Things are getting pretty serious about now. If you haven’t already, it’s time to feed just one more family member: an IRA. You can choose a Roth or traditional IRA; your tax advisor can guide that decision.  You’ll also want to max-out that 401(k) now, beyond the level of just the employer match. During these, your prime earning years, you want to make every retirement savings dollar count – before you start spending on all of life’s tempting non-essentials.

And that’s tough, because with children and all of your family-driven financial responsibilities, it’s easy to neglect your retirement savings. That why we’re making it automatic with maximized pre-tax and straight-from-the-paycheck 401(k) contributions.  Your priorities should be: 1) Retirement savings, 2) children’s’ college funds and 3) everything else.

This is likely another period of your life where you are rapidly piling on a heap of debt: house, cars, credit cards (again). If you prioritize retirement savings by making tax-advantaged deposits to your 401(k) and IRAs first – and to the legal limit – it will help you minimize the debt damage.

Empty nest

Now the kids are in college, or a commune – sometimes things just don’t work out the way you think they will, right? – and you and the significant other are enjoying the scenery on the road to retirement. Plus, you’re facing your second debt-reduction plan: paying off the house, the cars and the credit cards.

By now, you should have a big, juicy balance in your 401(k) and the IRAs are looking pretty good, too. “Catch-up” contributions available to those 50 and over can help beef-up those balances even more.

Life after work

Taking the exit ramp on the road to retirement means pulling out a map and navigating Social Security, Medicare and your retirement benefits.  You may decide to work part-time, or even full-time, at something you love. If so, you can adjust the withdrawal rate from your retirement assets to make them last even longer.

America may trail Switzerland in retirement rankings, but most of us aren’t too fond of snow shovels anyway.

Guest Post by: 

Hal Bundrick, NerdWallet

Jan 15

Borrowing Tips from MyMoney.gov

Sometimes it’s necessary to borrow for major purchases like an education, a car, a house or maybe even to meet unexpected expenses. Your ability to get a loan generally depends on your credit history, and that depends largely on your track record at repaying what you’ve borrowed in the past and paying your bills on time. So, be careful to keep your credit history strong.

Actions You Can Take

  • Track your borrowing habits.
  • Pay your bills on time.
  • When you need to borrow, be sure to plan, understand and shop around for a loan with a low Annual Percentage Rate (APR).
  • Learn about credit and how to use it effectively.
  • Pay attention to your credit history, as reflected by your credit score and on your credit report.

 

Hints and Tips

  • Borrowing money is a way to purchase something now and pay for it over time. But, you usually pay “interest” when you borrow money. The longer you take to pay back the money you borrowed, the more you will pay in interest.
  • It pays to shop around to get the best deal on a loan. Compare loan terms from several lenders, and it’s okay to negotiate the terms.
  • When repaying a loan, it may be better to pay more than the minimum amount due each month, so you will have to pay less in interest over the life of the loan.
  • One of your most important aids when shopping for a loan is the APR – the Annual Percentage Rate. This is the total cost, including interest charges and fees, described as a yearly rate.
  • Paying your bills on time will help increase your credit score. Even if you fell into trouble with borrowing in the past, you can get on solid footing and rebuild your credit history by making regular payments as agreed.
  • You are entitled to a free copy of your credit report every 12 months from each of the three nationwide credit bureaus. Go to www.AnnualCreditReport.com or call toll free 1-877-322-8228 to order the free reports. Beware of imposter sites.

For more Federal information, guides and helpful tools about the MyMoney Five principle, read more.

Dec 03

Tips for Savers: Certificates of Deposit

from http://www.fdic.gov

Consumers searching for relatively low-risk investments often turn to certificates of deposit (CDs). A CD is a special type of deposit account with a bank or thrift institution that typically offers a higher rate of interest than a regular savings account. Like all bank deposit products, CDs feature federal deposit insurance up to $250,000, per insured bank, for each account ownership category.

Here’s How CDs Work: When you purchase a CD, you commit to deposit a fixed sum of money for a fixed period of time – six months, one year, five years, or more – and, in exchange, the issuing bank pays you interest, typically at regular intervals. When you cash in or redeem your CD at maturity, you receive the money you originally invested plus any accrued interest. But if you redeem your CD before it matures, you may have to pay an “early withdrawal” penalty or forfeit a portion of the interest you earned. If the issuing bank fails during the term of the CD, the principal balance of the CD, together with interest accrued at the time of the bank’s closure, is insured by the FDIC up to the applicable deposit insurance limit.

Types of CDs Vary: At one time, all CDs paid a fixed interest rate until they reached maturity. Fixed-rate CDs, often referred to as “traditional” CDs, are still the most common. However, more and more banks are offering a greater variety of CD products with a broad range of non-traditional features. For instance, consumers can now find a growing number of banks offering CDs with little or no penalty for early withdrawals, with special redemption features in the event the depositor dies or with provisions giving the bank the right to “call,” or accelerate the CD maturity. In addition, many banks are offering CDs with variable interest rates based on either a pre-set schedule or tied to the performance of a specified market index (such as the S&P 500 or the Dow Jones Industrial Average). These latter CDs are often referred to as index-linked, market-linked, equity-linked, or structured CDs.

CD Accounts Established at an Insured Bank: The most common way to acquire a CD is by opening an account at an FDIC-insured bank. In such cases, the consumer, as the primary depositor named on the CD, can communicate directly with the bank about the account, review and confirm the terms of the account agreement, and obtain assurances that the CD is fully protected by FDIC deposit insurance.

Brokered or Agency CDs: Consumers also purchase CDs through brokerage firms or by using an agent. Common situations involve the use of traditional stock brokerage firms and those firms specializing in the sale of CDs, known as “deposit brokers.” Although brokered CDs can be placed directly in the name of an individual depositor, it is more common for brokers to establish co-mingled deposit accounts representing the funds of multiple customers.

A consumer with significant funds to deposit may use a broker to make deposits at multiple banks, thereby maximizing the consumer’s FDIC insurance coverage. In addition, consumers may be attracted to CDs sold by a broker who has made significant deposits in a bank on behalf of multiple depositors and, therefore, is able to negotiate higher CD interest rates than the individual consumer. Be aware, however, that CDs sold by brokers sometimes can be complex and carry more risks than traditional CDs sold directly by banks. An incompetent or unscrupulous broker could mislead or defraud its customers, resulting in loss or theft of the consumers’ funds. Since FDIC insurance coverage only applies if the broker in fact properly establishes and maintains the CD account on your behalf with your funds, it is very important to verify that you are dealing with a reputable broker when purchasing a CD. If the broker mishandles or misappropriates your deposit, your only recourse is against the broker.

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