Buying Commercial Bank & Trust Co. would give Renasant nine added branches in Tennessee and access to a trust and wealth franchise that manages $1.2 billion in assets.

Tupelo, Mississippi-based Renasant Corp. will acquire Paris, Tennessee-based Commercial Bank & Trust Co. in a deal worth $142 million that’s expected to close in the first quarter of 2027, the companies announced Tuesday.

The move would bolster Renasant with nine branches in western Tennessee, including two in Memphis. Beyond that, it would give Renasant access to a trust and wealth management business that touts $1.2 billion in assets under management.

In Commercial, Renasant also inherits a franchise with a common equity tier 1 ratio of 19.6%, according to an investor presentation.

“For nearly 150 years, Commercial Bank has built a reputation across West Tennessee for exceptional service and deep community relationships – values that are central to who we are at Renasant,” Kevin Chapman, Renasant’s CEO and president, said in a statement Tuesday. “This partnership strengthens our presence in Memphis and provides solid, long-tenured deposit and wealth relationships throughout West Tennessee.”

The deal would push Renasant’s asset total to $28.6 billion, along with $20.4 billion in loans and $22.6 billion in deposits, the bank said.

Adding Commercial would stretch Renasant’s Tennessee footprint to 28 locations and about $2.6 billion in deposits – enough to rank in the top 10 in the state among banks with less than $100 billion in assets, the lender said.

Commercial’s CEO, Mott Ford, is expected to join Renasant in a market executive role after the acquisition closes, the companies said.

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