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

EXHIBIT 99.1

Contact:	John Oxford	Stuart Johnson
	Vice President	Senior Executive Vice President
	Public Relations Officer	Chief Financial Officer
	(662) 680-1219	(662) 680-1472
	joxford@renasant.com	stuartj@renasant.com

RENASANT CORPORATION ANNOUNCES

2007 THIRD QUARTER EARNINGS

TUPELO, MISSISSIPPI (October 16, 2007) – Renasant Corporation (NASDAQ: RNST) (the “Company”) today announced results for the third quarter of 2007. Net income for the third quarter of 2007 was $8,297,000 as compared to $6,632,000 for the third quarter of 2006. Basic and diluted earnings per share were $0.39 for the third quarter of 2007, compared to basic earnings per share of $0.43 and diluted earnings per share of $0.42 for the third quarter of 2006. Net income for the third quarter of 2007 included approximately $373,000, or $0.02 per share, in after-tax expenses related to the Company’s acquisition of Capital Bancorp, Inc. (“Capital”) of Nashville, Tennessee, which was completed on July 1, 2007.

“We are pleased with our third quarter performance which included completion of the Capital merger, and full integration is now well underway.” commented Renasant Chairman and Chief Executive Officer, E. Robinson McGraw. “This is the first quarter that Capital’s financial performance was reflected in our earnings results, and we remain excited about our future in the Nashville, Tennessee market.”

The acquisition of Capital was completed on July 1, 2007 using the purchase accounting method under generally accepted accounting principles. Under this method of accounting, the financial statements of the Company do not reflect the results of operations or financial condition of Capital prior to July 1, 2007. As such, period-end balances incorporate the impact of the Company’s acquisition of Capital, including total assets of $615 million, total loans of $516 million, total deposits of $490 million, goodwill of $95 million and core deposit intangibles of $6 million. The Company issued approximately 2.8 million shares of Renasant Corporation common stock and paid $56 million cash in connection with the acquisition of Capital.

Total assets as of September 30, 2007 were $3.585 billion, representing a 37.3% increase from December 31, 2006 and a 41.6% increase since September 30, 2006.

Total loans grew to approximately $2.589 billion at the end of the third quarter of 2007, an increase of 41.7% from $1.827 billion at December 31, 2006. The acquisition of Capital increased loans by $516 million. The Company’s organic loan growth totaled $246 million, representing a 13.5% increase since December 31, 2006.

Total deposits grew to $2.664 billion at September 30, 2007, representing a 26.3% increase from December 31, 2006. The acquisition of Capital increased total deposits by $490 million. The Company’s organic deposit growth totaled $85 million, representing a 4.0% increase since December 31, 2006.

Net interest income grew to $26.7 million for the third quarter of 2007 compared to $21.7 million for the same period in 2006. Net interest margin declined to 3.52% for the third quarter of 2007 as compared to 4.02% for the third quarter of 2006. As discussed in previous releases, net interest income for the third quarter of 2006 included $527,000 in additional income from

certain loans acquired in connection with the Company’s acquisition of Heritage Financial Holding Corporation. This additional interest income increased the Company’s net interest margin 9 basis points and earnings by $0.02. On a linked quarter basis, net interest margin was 3.52% for the third quarter of 2007 as compared to 3.66% for the second quarter of 2007.

Noninterest income increased 14.8% to $13.4 million for the third quarter of 2007 from $11.7 million for the third quarter of 2006. The Capital acquisition contributed $688,000 in noninterest income for the third quarter of 2007. Excluding Capital’s noninterest income, the Company’s noninterest income increased 8.9% as compared to the third quarter of 2006.

Noninterest expense was $26.7 million for the third quarter of 2007, up 15.8% compared to $23 million for the third quarter of 2006. The acquisition of Capital increased noninterest expenses $3.6 million for the third quarter of 2007. Excluding these noninterest expenses, the Company’s noninterest expenses decreased $13,000 as compared to the third quarter of 2006.

Annualized net charge-offs as a percentage of average loans were 0.06% for the third quarter of 2007, down from 0.13% for the third quarter of 2006. Non-performing loans as a percentage of total loans were 0.57% at September 30, 2007, as compared to 0.62% at December 31, 2006 and 0.46% at September 30, 2006. Nonperforming loans were $14.8 million at September 30, 2007 as compared to $11.3 million at December 31, 2006 and $8.1 million at September 30, 2006. The increase in non-performing loans at September 30, 2007 as compared to prior periods is attributable to the acquisition of Capital and the addition of two large loans in our Alabama market. The allowance for loan losses as a percentage of loans was 1.04% at September 30, 2007, as compared to 1.07% at December 31, 2006 and 1.10% at September 30, 2006. The Company increased the provision for loan losses $413,000 for the third quarter of 2007, as

compared to the same period in 2006, due to the aforementioned increase in non-performing loans and loan growth.

“During the third quarter of 2007, we set the stage for future growth in our key markets by moving forward with the full integration of Capital in Nashville and by hiring a new State President to oversee our Alabama Division operations.”

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, October 17, 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:1-800-291-9234in the United States and entering the participant passcode76542886. International participants should dial (617) 614-3923and enter the participant passcode76542886.

ABOUT RENASANT CORPORATION:

Renasant Corporation is the parent of Renasant Bank and Renasant Insurance. As of September 30, 2007, Renasant has assets of approximately $3.6 billion and operates 70 banking, mortgage and insurance offices in Mississippi, Tennessee and Alabama.

NOTE TO INVESTORS:

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)

	2007									2006												Q3 2007— Q3 2006 Percent Variance		For the Nine Months Ended September 30,
Statement of earnings	Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter					2007			2006			Percent Variance
Interest income—taxable equivalent basis	$	57,571		$	44,399		$	42,534		$	41,654		$	40,916		$	38,437		$	36,632		40.71		$	144,504		$	115,985		24.59
Interest income	$	56,636		$	43,541		$	41,710		$	40,809		$	40,070		$	37,597		$	35,817		41.34		$	141,887		$	113,484		25.03
Interest expense		29,938			22,022			21,049			19,899			18,367			16,655			15,309		63.00			73,009			50,331		45.06
Net interest income		26,698			21,519			20,661			20,910			21,703			20,942			20,508		23.02			68,878			63,153		9.07
Provision for loan losses		1,313			800			750			800			900			(360	)		1,068		45.89			2,863			1,608		78.05
Net interest income after provision		25,385			20,719			19,911			20,110			20,803			21,302			19,440		22.03			66,015			61,545		7.26
Service charges on deposit accounts		5,239			4,919			4,844			4,809			4,686			4,527			4,424		11.80			15,002			13,637		10.01
Fees and commissions on loans and deposits		4,104			4,060			3,728			3,530			3,662			3,659			3,003		12.07			11,892			10,324		15.19
Insurance commissions and fees		930			918			810			868			975			868			822		(4.62	)		2,658			2,665		(0.26	)
Trust revenue		806			680			567			625			630			630			630		27.94			2,053			1,890		8.62
Gain (loss) on sale of securities		—			(1	)		79			—			—			4			21		—			78			25		212.00
Gain on sale of mortgage loans		1,201			1,225			1,146			1,034			1,029			674			760		16.72			3,572			2,463		45.03
Other		1,166			1,066			1,503			898			731			671			1,773		59.51			3,735			3,175		17.64
Total non-interest income		13,446			12,867			12,677			11,764			11,713			11,033			11,433		14.80			38,990			34,179		14.08
Salaries and employee benefits		15,010			13,083			12,927			12,234			13,013			12,301			12,212		15.35			41,020			37,526		9.31
Occupancy and equipment		3,269			2,836			2,731			2,773			2,788			2,688			2,786		17.25			8,836			8,262		6.95
Data processing		1,425			1,265			1,202			1,124			1,122			1,053			982		27.01			3,892			3,157		23.28
Amortization of intangibles		610			391			394			396			398			414			431		53.27			1,395			1,243		12.23
Other		6,375			5,792			5,247			5,484			5,724			5,603			5,480		11.37			17,414			16,807		3.61
Total non-interest expense		26,689			23,367			22,501			22,011			23,045			22,059			21,891		15.81			72,557			66,995		8.30
Income before income taxes		12,142			10,219			10,087			9,863			9,471			10,276			8,982		28.20			32,448			28,729		12.95
Income taxes		3,845			3,132			3,125			2,914			2,839			3,233			2,481		35.44			10,102			8,553		18.11
Net income	$	8,297		$	7,087		$	6,962		$	6,949		$	6,632		$	7,043		$	6,501		25.11		$	22,346		$	20,176		10.76
Basic earnings per share		0.39		$	0.42		$	0.45		$	0.45		$	0.43		$	0.45		$	0.42		(9.30	)		1.25		$	1.30		(3.85	)
Diluted earnings per share		0.39			0.41			0.44			0.44			0.42			0.44			0.41		(7.14	)		1.23			1.27		(3.15	)
Average basic shares outstanding		21,096,156			17,029,781			15,554,515			15,534,907			15,529,002			15,504,993			15,455,763		35.85			17,913,783			15,508,589		15.51
Average diluted shares outstanding		21,437,848			17,292,914			15,865,906			15,917,314			15,904,213			15,832,310			15,743,906		34.79			18,212,909			15,841,620		14.97
Common shares outstanding		20,983,501			18,356,974			15,560,006			15,536,475			15,531,611			15,521,611			15,496,004		35.10			20,983,501			15,531,611		35.10
Cash dividend per common share	$	0.170		$	0.160		$	0.160		$	0.160		$	0.160		$	0.153		$	0.153		6.25		$	0.490		$	0.467		5.00
Performance ratios
Return on average shareholders' equity		8.45	%		9.74	%		11.05	%		10.79	%		10.70	%		11.68	%		11.00	%				9.54	%		11.08	%
Return on average shareholders' equity, excluding amortization expense		8.83	%		10.07	%		11.44	%		11.17	%		11.09	%		12.10	%		11.44	%				9.90	%		11.50	%
Return on average assets		0.94	%		1.04	%		1.06	%		1.07	%		1.05	%		1.14	%		1.07	%				1.00	%		1.08	%
Return on average assets, excluding amortization expense		0.98	%		1.07	%		1.10	%		1.11	%		1.08	%		1.18	%		1.12	%				1.04	%		1.13	%
Net interest margin (FTE)		3.52	%		3.66	%		3.67	%		3.78	%		4.02	%		3.96	%		3.99	%				3.60	%		3.99	%
Yield on earning assets (FTE)		7.32	%		7.25	%		7.27	%		7.23	%		7.29	%		7.00	%		6.86	%				7.29	%		7.05	%
Average earning assets to average assets		88.71	%		89.74	%		89.13	%		88.95	%		88.46	%		88.66	%		88.16	%				89.18	%		88.45	%
Average loans to average deposits		94.02	%		87.00	%		86.12	%		87.91	%		86.55	%		85.06	%		85.66	%				89.41	%		85.52	%
Noninterest income (less securities gains/ losses) to average assets		1.52	%		1.89	%		1.92	%		1.82	%		1.85	%		1.78	%		1.88	%				1.75	%		1.84	%
Noninterest expense to average assets		3.01	%		3.43	%		3.43	%		3.40	%		3.63	%		3.56	%		3.61	%				3.26	%		3.60	%
Net overhead ratio		1.49	%		1.54	%		1.51	%		1.58	%		1.79	%		1.78	%		1.73	%				1.51	%		1.77	%
Efficiency ratio (FTE)		64.97	%		66.30	%		65.87	%		65.67	%		67.26	%		67.22	%		66.83	%				65.67	%		67.11	%

*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)

	2007									2006												Q3 2007- Q3 2006 Percent Variance		For the Nine Months Ended September 30,
Average balances	Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter					2007			2006			Percent Variance
Total assets	$	3,515,669		$	2,735,556		$	2,663,515		$	2,569,719		$	2,517,189		$	2,485,527		$	2,456,602		39.67		$	2,973,780		$	2,486,841		19.58
Earning assets		3,118,727			2,454,953			2,373,908			2,285,878			2,226,598			2,203,677			2,165,821		40.07			2,651,989			2,199,584		20.57
Securities		548,612			476,742			444,420			439,383			446,098			448,905			412,670		22.98			490,371			436,673		12.30
Loans, net of unearned		2,557,185			1,954,517			1,885,122			1,828,637			1,770,135			1,721,426			1,689,106		44.46			2,134,737			1,727,189		23.60
Intangibles		194,743			97,697			98,094			98,554			98,955			99,359			99,854		96.80			129,142			99,415		29.90
Non-interest bearing deposits		298,278			257,273		$	258,071		$	260,823		$	269,051		$	258,886		$	256,548		10.86		$	272,065		$	261,626		3.99
Interest bearing deposits		2,389,220			1,951,730			1,899,474			1,780,128			1,732,532			1,733,865			1,689,671		37.90			2,081,915			1,718,653		21.14
Total deposits		2,687,498			2,209,003			2,157,545			2,040,951			2,001,583			1,992,751			1,946,219		34.27			2,353,980			1,980,279		18.87
Other borrowings		385,589			201,743			212,762			241,642			239,295			225,201			245,093		61.14			270,035			236,508		14.18
Shareholders' equity		389,621			291,864			255,470			255,494			245,946			241,841			239,771		58.42			313,199			243,372		28.69
Asset quality data
Nonaccrual loans	$	12,657		$	5,905		$	6,368		$	7,821		$	6,264		$	5,978		$	2,509		102.06		$	12,657		$	6,264		102.06
Loans 90 past due or more		2,125			1,648			3,913			3,467			1,798			1,745			1,546		18.19			2,125			1,798		18.19
Non-performing loans		14,782			7,553			10,281			11,288			8,062			7,723			4,055		83.35			14,782			8,062		83.35
Other real estate owned and repossessions		3,168			2,309			2,897			4,579			3,502			3,697			3,922		(9.54	)		3,168			3,502		(9.54	)
Non-performing assets	$	17,950		$	9,862		$	13,178		$	15,867		$	11,564		$	11,420		$	7,977		55.22		$	17,950		$	11,564		55.22
Net loan charge-offs (recoveries)	$	377		$	277		$	202		$	566		$	590		$	(877	)	$	958		(36.10	)	$	856		$	671		27.57
Allowance for loan losses		26,926			20,605			20,082			19,534			19,300			18,990			18,473		39.51			26,926			19,300		39.51
Non-performing loans / total loans		0.57	%		0.38	%		0.54	%		0.62	%		0.46	%		0.45	%		0.24	%				0.57	%		0.46	%
Non-performing assets / total assets		0.50	%		0.35	%		0.48	%		0.61	%		0.46	%		0.46	%		0.32	%				0.50	%		0.46	%
Allowance for loan losses / total loans		1.04	%		1.04	%		1.06	%		1.07	%		1.10	%		1.10	%		1.11	%				1.04	%		1.10	%
Allowance for loan losses / non-performing loans		182.15	%		272.81	%		195.33	%		173.05	%		239.39	%		245.89	%		455.56	%				182.15	%		239.39	%
Annualized net loan charge-offs / average loans		0.06	%		0.06	%		0.04	%		0.12	%		0.13	%		-0.20	%		0.23	%				0.05	%		0.05	%
Balances at period end
Total assets	$	3,584,519		$	2,791,295		$	2,754,930		$	2,611,356		$	2,530,892		$	2,503,333		$	2,509,220				$	3,584,519		$	2,530,892		41.63
Earning assets		3,168,182			2,494,569			2,460,185			2,315,431			2,245,428			2,208,320			2,205,706					3,168,182			2,245,428		41.09
Securities		543,017			460,606			462,588			428,065			438,287			434,567			429,169					543,017			438,287		23.90
Mortgage loans held for sale		25,911			38,048			29,098			38,672			32,134			36,519			34,099					25,911			32,134		(19.37	)
Loans, net of unearned		2,588,563			1,977,941			1,889,799			1,826,762			1,761,842			1,729,861			1,664,479					2,588,563			1,761,842		46.92
Intangibles		196,643			97,286			97,902			98,296			98,760			99,159			99,575					196,643			98,760		99.11
Non-interest bearing deposits	$	315,813		$	274,336		$	273,726		$	271,237		$	257,764		$	272,686		$	272,672				$	315,813		$	257,764		22.52
Interest bearing deposits		2,348,064			1,949,018			1,991,620			1,837,728			1,727,650			1,710,780			1,759,073					2,348,064			1,727,650		35.91
Total deposits		2,663,877			2,223,354			2,265,346			2,108,965			1,985,414			1,983,466			2,031,745					2,663,877			1,985,414		34.17
Other borrowings		483,988			218,045			200,764			216,423			264,983			252,671			214,054					483,988			264,983		82.65
Shareholders' equity		392,312			316,634			258,566			252,704			250,622			241,043			239,418					392,312			250,622		56.54
Market value per common share	$	21.63		$	22.74		$	24.68		$	30.63		$	28.07		$	26.90		$	24.63				$	21.63		$	28.07		(22.94	)
Book value per common share		18.70			17.25			16.62			16.27			16.14			15.53			15.45					18.70			16.14		15.86
Tangible book value per common share		9.32			11.95			10.33			9.94			9.78			9.14			9.02					9.32			9.78		(4.63	)
Shareholders' equity to assets (actual)		10.94	%		11.34	%		9.39	%		9.68	%		9.90	%		9.63	%		9.54	%				10.94	%		9.90	%
Tangible capital ratio		5.78	%		8.14	%		6.05	%		6.14	%		6.24	%		5.90	%		5.80	%				5.78	%		6.24	%
Leverage ratio		8.26	%		11.02	%		8.85	%		8.60	%		8.79	%		8.67	%		8.59	%				8.26	%		8.79	%
Detail of Loans by Category
Commercial, financial, agricultural	$	336,157		$	265,062		$	243,274		$	236,741		$	231,361		$	230,890		$	206,914				$	336,157		$	231,361		45.30
Lease financing		2,906			3,409			3,833			4,234			4,617			5,284			6,548					2,906			4,617		(37.06	)
Real estate—construction		401,652			247,241			231,311			242,669			234,667			229,969			196,228					401,652			234,667		71.16
Real estate—1-4 family mortgages		841,266			669,557			654,604			636,060			614,143			593,174			578,931					841,266			614,143		36.98
Real estate—commercial mortgages		925,001			715,408			676,015			629,354			599,314			594,121			595,589					925,001			599,314		54.34
Installment loans to individuals		81,581			77,264			80,762			77,704			77,740			76,423			80,269					81,581			77,740		4.94
Loans, net of unearned	$	2,588,563		$	1,977,941		$	1,889,799		$	1,826,762		$	1,761,842		$	1,729,861		$	1,664,479				$	2,588,563		$	1,761,842		46.92

*Percent variance not meaningful

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