Renasant files papers to raise $150M

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Renasant in Tupelo, Miss., has filed a shelf registration that would allow it to raise up to $150 million.

The $4.1 billion-asset company may sell from time to time common stock, preferred stock, debt securities or warrants, Renasant said Wednesday in a regulatory filing. It will use the funds for general corporate purposes such as repaying existing debt, acquisitions, capital expenditures and additions to working capital. It may also temporarily invest the money to reduce short-term debt.

Renasant Bank has been aggressively expanding throughout the Southeast within the last two years. It has entered new markets in Tennessee, Mississippi and Alabama in addition to buying two failed banks in Georgia. It also bought the trust division of RBC Bank USA in Birmingham, Ala.

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