Renasant (RNST) 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

Filed by Renasant Corporation

pursuant to Rule 425 under

the Securities Act of 1933 and

deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: Capital Bancorp, Inc.

Commission File No.: 333-141449

Contact:	Jim Gray	Stuart Johnson
	Senior Executive Vice President & CIO	Senior Executive Vice President & CFO
	(662) 680-1217	(662) 680-1472
	jimg@renasant.com	stuartj@renasant.com

RENASANT CORPORATION ANNOUNCES INCREASE IN

2007 FIRST QUARTER EARNINGS PER SHARE

TUPELO, MISSISSIPPI (April 17, 2007) – Renasant Corporation (NASDAQ:RNST) (the “Company”) today announced results for the first quarter of 2007. Basic earnings per share were $0.45, up 7.1%, and diluted earnings per share were $0.44, up 7.3%, compared to basic earnings per share of $0.42 and diluted earnings per share of $0.41 for the first quarter of 2006. Net income for the first quarter of 2007 was $6,962,000, up 7.1%, or $461,000, from the first quarter of 2006.

“We are pleased with our first quarter 2007 results,” commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. “As the current interest rate environment continues to suppress margin growth throughout the entire banking industry, we were able to offset, to a certain extent, the compression on net interest margin through double digit loan, deposit and fee income growth, along with operating expense control and excellent credit quality to meet our first quarter earnings goals.”

Total assets as of March 31, 2007 were $2.755 billion, representing a 5.5% increase from December 31, 2006 and a 9.8% increase since March 31, 2006. Total loans grew to approximately $1.890 billion at the end of the first quarter of 2007, an increase of 3.5% from $1.827 billion at December 31, 2006 and an increase of 13.5% from $1.664 billion at March 31, 2006. Total deposits grew to $2.265 billion at March 31, 2007, representing a 7.4% increase from December 31, 2006 and an 11.5% increase since March 31, 2006.

Net interest income grew slightly to $20,661,000 for the first quarter of 2007 compared to $20,508,000 for the same period in 2006. Net interest margin declined to 3.67% for the first quarter of 2007 compared to 3.78% for the fourth quarter of 2006 and 3.99% for the first quarter of 2006. This was in part due to a surge in public fund deposits that were placed in short term investments. Net interest income for the first quarter of 2006 included approximately $262,000 in interest income from loans accounted for in accordance with AICPA Statement of Position 03-3 as compared to $19,000 for the first quarter of 2007. This additional interest income increased first quarter 2006 net interest margin by 0.05% but had no impact on net interest margin in the first quarter of 2007.

Noninterest income increased 10.9% to $12,677,000 for the first quarter of 2007 from $11,433,000 for the first quarter of 2006 from multiple sources including insurance, mortgage lending, and loan and deposit fees. During the first quarter of 2007, noninterest income included $500,000 from the sale of other real estate. During the first quarter of 2006, noninterest income included a one time gain of $558,000 from the early extinguishment of an FHLB advance and a $397,000 nontaxable death benefit from life insurance proceeds.

Noninterest expense was $22,501,000 for the first quarter of 2007, up 2.79% compared to $21,891,000 for the first quarter of 2006.

“We continued the trend of increasing our noninterest income at a higher rate than our noninterest expense. This is representative of our commitment to control our overall expenses while at the same time significantly growing loans, deposits and noninterest income,” said McGraw.

Despite national trends, the Company’s overall credit quality remained strong during the first quarter of 2007. Annualized net charge-offs as a percentage of average loans were 0.04% for the first quarter of 2007, down from 0.12% for the fourth quarter of 2006 and 0.23% for the first quarter of 2006. Non-performing loans as a percentage of total loans were 0.54% at March 31, 2007, as compared to 0.62% at December 31, 2006 and 0.24% at March 31, 2006. The allowance for loan losses as a percentage of loans was 1.06% at March 31, 2007, as compared to 1.07% at December 31, 2006 and 1.11% at March 31, 2006.

“On February 5, 2007, we announced the signing of a definitive agreement to acquire Capital Bancorp, Inc. of Nashville, Tennessee which follows our strategic plan of expansion into key growth markets. Completion of the merger is subject to a number of conditions, including, among other things, regulatory approval and approval by the shareholders of Capital Bancorp, Inc. If all conditions to the completion of the merger are satisfied, we anticipate the merger to be completed in the third quarter of this year and preparation for a successful integration is already underway,” stated McGraw.

CONFERENCE CALL INFORMATION:

A live audio webcast of a conference call with analysts will be available beginning at 10:00 a.m. Eastern time on Wednesday, April 18, 2007, through the Company’s website: www.renasant.com, and through Thompson/CCBN’s individual investor center at www.fulldisclosure.com, or any of Thompson/CCBN’s Investor Distribution Network websites. The event will be archived on the Company’s website for 90 days. If Internet access is unavailable, the conference may also be heard live (listen-only) via telephone by dialing 866-831-6234 in the United States and entering the participant passcode 49064053. International participants should dial 617-213-8854 and enter the participant passcode 49064053.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $2.8 billion and operates 63 banking, mortgage and insurance offices in 38 cities in Mississippi, Tennessee and Alabama.

NOTE TO INVESTORS:

The description of the merger of Capital Bancorp, Inc. (“Capital”) into the Company set forth above is merely a summary and does not contain a description of all of the material terms of the transaction. The Company has filed a Registration Statement on Form S-4 (Registration No. 333- 141449) with the Securities and Exchange Commission (the “SEC”) containing a preliminary proxy statement/prospectus relating to the merger. After the SEC has declared the Registration Statement effective, the proxy statement/prospectus will be mailed to Capital shareholders and, if required by applicable laws or regulations, to shareholders of the Company. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, CAPITAL AND THE PROPOSED MERGER.

The Company, Capital and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Capital’s shareholders and, if approval by the Company’s shareholders is required, the Company’s shareholders. Information about the Company, Capital and their respective directors and executive officers and their ownership of Company or Capital common stock, as applicable, will be set forth or incorporated by reference in the definitive proxy statement/prospectus for the merger when it becomes available. The proxy statement/prospectus and other relevant materials (when they become available), and any other documents filed by the Company or Capital with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, investors may obtain free copies of the documents filed with the SEC by the Company by directing a written request to Renasant Corporation, 209 Troy Street, Tupelo, Mississippi 38804 Attention: Investor Relations, and free copies of the documents filed with the SEC by Capital by directing a written request to Capital Bancorp, Inc., 1816 Hayes Street, Nashville, Tennessee 37203.

This news release may contain, or incorporate by reference, statements which may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking statements usually include words such as “expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,” “strategy,” “plan,” “potential,” “possible” and other similar expressions.

Prospective investors are cautioned that any such forward-looking statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, significant underperformance in our portfolio of outstanding loans, and competition in our markets. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

###

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)

				2006												1st Qtr 2007 - 1st Qtr 2006 Percent Variance		For the Three Months Ended March 31,
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter					2007			2006			Percent Variance
Statement of earnings
Interest income—taxable equivalent basis	$	42,534		$	41,654		$	40,916		$	38,437		$	36,632		16.11		$	42,534		$	36,632		16.11
Interest income	$	41,710		$	40,809		$	40,070		$	37,597		$	35,817		16.45		$	41,710		$	35,817		16.45
Interest expense		21,049			19,899			18,367			16,655			15,309		37.49			21,049			15,309		37.49
Net interest income		20,661			20,910			21,703			20,942			20,508		0.75			20,661			20,508		0.75
Provision for loan losses		750			800			900			(360	)		1,068		(29.78	)		750			1,068		(29.78	)
Net interest income after provision		19,911			20,110			20,803			21,302			19,440		2.42			19,911			19,440		2.42
Service charges on deposit accounts		4,844			4,809			4,686			4,527			4,424		9.49			4,844			4,424		9.49
Fees and commissions on loans and deposits		3,728			3,530			3,662			3,659			3,003		24.14			3,728			3,003		24.14
Insurance commissions and fees		810			868			975			868			822		(1.46	)		810			822		(1.46	)
Trust revenue		567			625			630			630			630		(10.00	)		567			630		(10.00	)
Gain (loss) on sale of securities		79			—			—			4			21		276.19			79			21		276.19
Gain on sale of mortgage loans		1,146			1,034			1,029			674			760		50.79			1,146			760		50.79
Other		1,503			898			731			671			1,773		(15.23	)		1,503			1,773		(15.23	)
Total non-interest income		12,677			11,764			11,713			11,033			11,433		10.88			12,677			11,433		10.88
Salaries and employee benefits		12,927			12,234			13,013			12,301			12,212		5.85			12,927			12,212		5.85
Occupancy and equipment		2,731			2,773			2,788			2,688			2,786		(1.97	)		2,731			2,786		(1.97	)
Data processing		1,202			1,124			1,122			1,053			982		22.40			1,202			982		22.40
Amortization of intangibles		394			396			398			414			431		(8.58	)		394			431		(8.58	)
Other		5,247			5,484			5,724			5,603			5,480		(4.25	)		5,247			5,480		(4.25	)
Total non-interest expense		22,501			22,011			23,045			22,059			21,891		2.79			22,501			21,891		2.79
Income before income taxes		10,087			9,863			9,471			10,276			8,982		12.30			10,087			8,982		12.30
Income taxes		3,125			2,914			2,839			3,233			2,481		25.96			3,125			2,481		25.96
Net income	$	6,962		$	6,949		$	6,632		$	7,043		$	6,501		7.09		$	6,962		$	6,501		7.09
Basic earnings per share	$	0.45		$	0.45		$	0.43		$	0.45		$	0.42		7.14		$	0.45		$	0.42		7.14
Diluted earnings per share		0.44			0.44			0.42			0.44			0.41		7.32			0.44			0.41		7.32
Average basic shares outstanding		15,554,515			15,534,907			15,529,002			15,513,356			15,480,536		0.48			15,554,515			15,480,536		0.48
Average diluted shares outstanding		15,865,906			15,917,314			15,904,213			15,840,673			15,768,679		0.62			15,865,906			15,768,679		0.62
Common shares outstanding		15,560,006			15,536,475			15,531,611			15,521,611			15,496,004		0.41			15,560,006			15,496,004		0.41
Cash dividend per common share	$	0.160		$	0.160		$	0.160		$	0.153		$	0.153		4.35		$	0.160		$	0.153		4.35
Performance ratios
Return on average shareholders’ equity		11.05	%		10.79	%		10.70	%		11.68	%		11.00	%				11.05	%		11.00	%
Return on average shareholders’ equity, excluding amortization expense		11.44	%		11.17	%		11.09	%		12.10	%		11.44	%				11.44	%		11.44	%
Return on average assets		1.06	%		1.07	%		1.05	%		1.14	%		1.07	%				1.06	%		1.07	%
Return on average assets, excluding amortization expense		1.10	%		1.11	%		1.08	%		1.18	%		1.12	%				1.10	%		1.12	%
Net interest margin (FTE)		3.67	%		3.78	%		4.02	%		3.96	%		3.99	%				3.67	%		3.99	%
Yield on earning assets (FTE)		7.27	%		7.23	%		7.29	%		7.00	%		6.86	%				7.27	%		6.86	%
Average earning assets to average assets		89.13	%		88.95	%		88.46	%		88.66	%		88.16	%				89.13	%		88.16	%
Average loans to average deposits		86.12	%		87.91	%		86.55	%		85.06	%		85.66	%				86.12	%		85.66	%
Noninterest income (less securities gains/losses) to average assets		1.92	%		1.82	%		1.85	%		1.78	%		1.88	%				1.92	%		1.88	%
Noninterest expense to average assets		3.43	%		3.40	%		3.63	%		3.56	%		3.61	%				3.43	%		3.61	%
Net overhead ratio		1.51	%		1.58	%		1.79	%		1.78	%		1.73	%				1.51	%		1.73	%
Efficiency ratio (FTE)		65.87	%		65.67	%		67.26	%		67.22	%		66.83	%				65.87	%		66.83	%

*Percent variance not meaningful

Share and per share amounts have been restated to reflect the three-for-two stock split issued August 28, 2006

RENASANT CORPORATION

(Unaudited)

(Dollars in thousands, except per share data)

	First Quarter			2006												1st Qtr 2007 - 1st Qtr 2006 Percent Variance		For the Three Months Ended March 31,
Average balances				Fourth Quarter			Third Quarter			Second Quarter			First Quarter					2007			2006			Percent Variance
Total assets	$	2,663,515		$	2,569,719		$	2,517,189		$	2,485,527		$	2,456,602		8.42		$	2,663,515			2,456,602		8.42
Earning assets		2,373,908			2,285,878			2,226,598			2,203,677			2,165,821		9.61			2,373,908			2,165,821		9.61
Securities		444,420			439,383			446,098			448,905			412,670		7.69			444,420			412,670		7.69
Loans, net of unearned		1,885,122			1,828,637			1,770,135			1,721,426			1,689,106		11.60			1,885,122			1,689,106		11.60
Intangibles		98,094			98,554			98,955			99,359			99,854		(1.76	)		98,094			99,854		(1.76	)
Non-interest bearing deposits	$	258,071		$	260,823		$	269,051		$	258,886		$	256,548		0.59		$	258,071		$	256,548		0.59
Interest bearing deposits		1,899,474			1,780,128			1,732,532			1,733,865			1,689,671		12.42			1,899,474			1,689,671		12.42
Total deposits		2,157,545			2,040,951			2,001,583			1,992,751			1,946,219		10.86			2,157,545			1,946,219		10.86
Other borrowings		212,762			241,642			239,295			225,201			245,093		(13.19	)		212,762			245,093		(13.19	)
Shareholders’ equity		255,470			255,494			245,946			241,841			239,771		6.55			255,470			239,771		6.55
Asset quality data
Nonaccrual loans	$	6,368		$	7,821		$	6,264		$	5,978		$	2,509		153.81		$	6,368		$	2,509		153.81
Loans 90 past due or more		3,913			3,467			1,798			1,745			1,546		153.10			3,913			1,546		153.10
Non-performing loans		10,281			11,288			8,062			7,723			4,055		153.54			10,281			4,055		153.54
Other real estate owned and repossessions		2,897			4,579			3,502			3,697			3,922		(26.13	)		2,897			3,922		(26.13	)
Non-performing assets	$	13,178		$	15,867		$	11,564		$	11,420		$	7,977		65.20		$	13,178		$	7,977		65.20
Net loan charge-offs (recoveries)	$	201		$	566		$	590		$	(877	)	$	958		(79.02	)	$	201		$	958		(79.02	)
Allowance for loan losses		20,082			19,534			19,300			18,990			18,473		8.71			20,082			18,473		8.71
Non-performing loans/total loans		0.54	%		0.62	%		0.46	%		0.45	%		0.24	%				0.54	%		0.24	%
Non-performing assets/total assets		0.48	%		0.61	%		0.46	%		0.46	%		0.32	%				0.48	%		0.32	%
Allowance for loan losses/total loans		1.06	%		1.07	%		1.10	%		1.10	%		1.11	%				1.06	%		1.11	%
Allowance for loan losses/non-performing loans		195.33	%		173.05	%		239.39	%		245.89	%		455.56	%				195.33	%		455.56	%
Annualized net loan charge-offs/average loans		0.04	%		0.12	%		0.13	%		-0.20	%		0.23	%				0.04	%		0.23	%
Balances at period end
Total assets	$	2,754,930		$	2,611,356		$	2,530,892		$	2,503,333		$	2,509,220				$	2,754,930		$	2,509,220		9.79
Earning assets		2,460,185			2,315,431			2,245,428			2,208,320			2,205,706					2,460,185			2,205,706		11.54
Securities		462,588			428,065			438,287			434,567			429,169					462,588			429,169		7.79
Mortgage loans held for sale		29,098			38,672			32,134			36,519			34,099					29,098			34,099		(14.67	)
Loans, net of unearned		1,889,799			1,826,762			1,761,842			1,729,861			1,664,479					1,889,799			1,664,479		13.54
Intangibles		97,902			98,296			98,760			99,159			99,575					97,902			99,575		(1.68	)
Non-interest bearing deposits	$	273,726		$	271,237		$	257,764		$	272,686		$	272,672				$	273,726		$	272,672		0.39
Interest bearing deposits		1,991,620			1,837,728			1,727,650			1,710,780			1,759,073					1,991,620			1,759,073		13.22
Total deposits		2,265,346			2,108,965			1,985,414			1,983,466			2,031,745					2,265,346			2,031,745		11.50
Other borrowings		200,764			216,423			264,983			252,671			214,054					200,764			214,054		(6.21	)
Shareholders’ equity		258,566			252,704			250,622			241,043			239,418					258,566			239,418		8.00
Market value per common share	$	24.68		$	30.63		$	28.07		$	26.90		$	24.63				$	24.68		$	24.63		0.22
Book value per common share		16.62			16.27			16.14			15.53			15.45					16.62			15.45		7.55
Tangible book value per common share		10.33			9.94			9.78			9.14			9.02					10.33			9.02		14.42
Shareholders’ equity to assets (actual)		9.39	%		9.68	%		9.90	%		9.63	%		9.54	%				9.39	%		9.54	%
Tangible capital ratio		6.05	%		6.14	%		6.24	%		5.90	%		5.80	%				6.05	%		5.80	%
Leverage ratio		8.85	%		8.60	%		8.79	%		8.67	%		8.59	%				8.85	%		8.59	%
Detail of Loans by Category
Commercial, financial, agricultural	$	243,274		$	236,741		$	231,361		$	230,890		$	206,914				$	243,274		$	206,914		17.57
Lease financing		3,833			4,234			4,617			5,284			6,548					3,833			6,548		(41.46	)
Real estate—construction		231,311			242,669			234,667			229,969			196,228					231,311			196,228		17.88
Real estate—1-4 family mortgages		654,604			636,060			614,143			593,174			578,931					654,604			578,931		13.07
Real estate—commercial mortgages		676,015			629,354			599,314			594,121			595,589					676,015			595,589		13.50
Installment loans to individuals		80,762			77,704			77,740			76,423			80,269					80,762			80,269		0.61
Loans, net of unearned	$	1,889,799		$	1,826,762		$	1,761,842		$	1,729,861		$	1,664,479				$	1,889,799		$	1,664,479		13.54

* Percent variance not meaningful

Share and per share amounts have been restated to reflect the three-for-two stock split issued August 28, 2006