Jan. 4—TUPELO — Renasant Bank has acquired commercial finance company Republic Business Credit (RBC) in an all-cash transaction.

Terms of the deal were not disclosed.

Founded in 2011, RBC has average earning assets of more than $100 million. It provides factoring and asset-based lending solutions to commercial borrowers nationwide with more than $8 billion in factoring originations alone.

RBC will operate as a separate subsidiary of Renasant Bank and will continue to operate under its existing brand name. All of RBC's current leadership and associates are expected to remain in their positions, including co-founder and CEO Stewart Chesters, President Robert Meyers and Chief Operating Officer Matthew Begley.

"We are excited to welcome Republic Business Credit to Renasant Bank," said Mitch Waycaster, President and CEO of Renasant Corp. "RBC has a track-record of growth, profitability and strong asset quality. This partnership allows Renasant to add depth to lines of business where we have expertise and have experienced success."