Persistence Paid off for Renasant, The First

The Mississippi companies seriously discussed a merger three times since early 2020 before finally striking a $1.2 billion deal this summer.

Hi again, Bank Slaters!

We saw a healthy spurt in M&A announcements during second-quarter earnings, which means a steady stream of regulatory filings are soon coming to share background details about those pending deals.

Renasant just filed its documents for buying First Bancshares, revealing several details that we found fascinating and noteworthy enough to share. First, the companies tried on three occasions to hammer out a deal going back to early 2020.

The filing also shows us just how much Hoppy Cole, the man to built First into an attractive acquisition target for Renasant, will get paid for helping get the deal through closure and integration.

Here is a rundown of how the deal came to be.