Market President, Renasant Bank
Tell us about your business.
Renasant is a 117-year-old bank with humble beginnings in Tupelo, Mississippi. Headquartered in Tupelo, and one of the Southeast’s strongest financial institutions, we’ve grown to more than $15.6 billion in total assets with over 200 offices across seven states. Renasant has had a presence in Huntsville since 2006.
Many companies had challenges in 2020 for different reasons. Did Renasant face any issues or opportunities you didn’t expect?
Like all businesses, Renasant faced challenges in 2020. Fortunately, banks are essential and we were allowed to continue to have employees report for work. We live in this community, and we care about the well-being of both it and our clients, so we wanted to do anything to provide stability. In addition, the PPP loan program was developed and we were able to meet the needs of our clients and local businesses to keep the Huntsville economy moving. Our organization quickly built a successful PPP delivery process for our clients, and delivered more than $1 billion in PPP funds. We also quickly developed internal protocols to protect employees, our offices remained staffed and available throughout the pandemic, and we were able to support some of the critical humanitarian agencies in our community that could not hold normal fund raising efforts.
What has our community’s growth meant for you?
We are so fortunate to be in Huntsville during this time of phenomenal growth and transition in our city. Renasant has added a third location downtown on the Square, as well as new staff to meet the demand. Huntsville is realizing the success of so many initiatives simultaneously; the city has developed a natural energy that is attracting new residents and businesses. We have a great opportunity to participate in the positive economic and community growth Huntsville is experiencing.
What would you say to other businesses considering an investment in the Huntsville/Madison County Chamber?
Take time to consider all of the successful initiatives and look for the Chamber’s role in bringing those initiatives to life. We have a hardworking Chamber that has actively planned and laid the groundwork for the success of much of the local expansion. The explosive growth and success that looks organic today resulted from the years of hard work and initiative of the Chamber.
This article appears in the June 2021 issue of Initiatives magazine, a publication of the Huntsville/Madison County Chamber.