Written by rjs, MarketWatch 666News posted last week about economic effects related to the coronavirus 2019-nCoV (aka SARS-CoV-2), which produces COVID-19 disease, has been surveyed and some articles are summarized here. We cover the latest economic data, especially the prospects for an infrastructure bill, stimulus checks, government funding, the Fed, the latest employment data, housing market reports, mortgage delinquencies & forbearance, travel, layoffs, lockdowns, and schools, as well as infrastructure and GDP. The bulk of the news is from the U.S., with a few more articles from overseas at the end. (Picture below is morning rush hour in downtown Chicago, 20 March 2020.) News items about epidemiology and other medical news for the virus are reported in a companion article.
Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.
Mortgage revenue settling back to normal times nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
Operator
Good morning, and welcome to Renasant Corp. First Quarter 2021 Earnings Call and Webcast. [Operator Instructions] Please note that this event is being recorded. Now I d like to turn the call over to Kelly Hutcheson, Renasant Corp. Please go ahead.
Kelly W. Hutcheson
Executive Chief Acounting Officer
Good morning, and thank you for joining us for Renasant Corporation s 2021 First Quarter Webcast and Conference Call. Participating in this call today are members of Renasant s executive management team. Before we begin, please note that many of our comments during this call will be forward-looking statements, which involve risks and uncertainty. There are many factors that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. Even while conditions in our footprint and across the country appear to be improving as COVID-19 vaccines are administered to more people, the impact of the pan
TUPELO ⢠Renasant Corp. on Tuesday reported first-quarter net income of $57.9 million, or $1.02 per share. Earnings, adjusted for non-recurring gains, came to 85 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
Last year, Renasantâs first quarter brought in net income of $2 million, or 4 cents per share.
Revenue for the first quarter of this year was $202.8 million. Its revenue net of interest expense was $190.7 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $160.3 million.
Renasant shares have increased 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $42.54, a climb of 68% in the last 12 months.