DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
View Annual Report Understanding and then meeting the needs of our clients, providing optimum return to our shareholders, creating security and opportunity for our employees and being good citizens in our communities are the founding principles that have guided our company for more than 110 years. During 2014, Renasant generated record results through building on these founding principles. By executing our strategic initiatives of improving profitability and delivering higher levels of earnings, along with improving our efficiency, we experienced E. ROBINSON McGRAW another successful year—one we ended with Chairman, President and Chief Executive Officer the announcement of a proposed merger that, if completed, would be the largest acquisition in the history of our company. MARKET HIGHLIGHTS Looking at highlights in our market activity during 2014, Renasant stands for a “constant renaissance.” in Tennessee, we opened our new northern region Over the past year, our company has truly lived up to headquarters in downtown Nashville. This office, our name as we made major investments in financial located in Nashville’s popular West End district, is in services technologies, facilities, employee training and close proximity to many metro businesses as well as community involvement to continually improve the the City’s major health care facilities and universities. way we serve our clients. Through this idea of a constant renaissance, we have provided our clients with technology that allows them to bank whenever and wherever they want. We have upgraded our locations because­­—despite the increased adoption of online and mobile banking—we still experience very healthy client traffic throughout our branch network. In addition, we have enhanced our service skills by offering every employee our Renasant Relationship Builder training program. Beyond improvements in the delivery of our products and services, we continue to pride ourselves on serving our communities and our fellow citizens. From helping with tornado disaster relief and volunteering thousands of service hours to holding financial seminars and providing grants to various nonprofits, in any market Renasant serves, you will find our employees on the front lines helping their communities. NORTHERN REGION HEADQUARTERS Nashville, Tennessee It is in our company’s DNA to be active participants in the communities we serve. The constant renaissance In Alabama, we broke ground on our new Tuscaloosa from which we derive our name is not just for banking; branch that opened in early 2015. This branch is in it’s for being constant in doing all that we can to one of the most visible locations in metro Tuscaloosa, improve the lives of those around us as well. conveniently located near the University of Alabama. In Mississippi, where Tupelo serves as our corporate Basic and diluted earnings per share (EPS) were $1.89 headquarters, we continue to enjoy strong market and $1.88, respectively, for 2014, as compared to share, as we are the fourth-largest bank in the state basic and diluted EPS of $1.23 and $1.22, respectively, based on deposit share. for 2013. During the past year, we acquired land for a second Our loans increased 2.75% to $3.99 billion at December retail location in Columbus. This location will build on 31, 2014, as compared to $3.88 billion at December our already strong presence in the Golden Triangle 31, 2013. Excluding acquired loans, our legacy market markets of Columbus, Starkville and West Point. loans grew 13% to $3.27 billion at December 31, 2014, as compared to $2.89 billion at December 31, 2013. For 2014, total deposits were flat at $4.84 billion as compared to 2013. Our net interest income increased approximately 29% to $202.6 million for 2014, from $157.2 million for 2013. For 2014, our net interest margin increased to 4.12% from 3.96% for 2013. Our noninterest income is derived from diverse lines of business that primarily consists of mortgage, wealth management and insurance revenue sources along with income from deposit and loan products. Noninterest income for 2014 was $80.6 million, as compared to $72.0 million for 2013. For 2014, SHANNON, MISSISSIPPI, RIBBON CUTTING noninterest expense was $191.2 million, as compared & GRAND OPENING to $173.1 million for 2013. We opened a new branch in Shannon to better serve one of our legacy communities. In addition, we broke ground on a new location in Grenada that will open during the second quarter of 2015. We are also experiencing much success with our recent entry into the markets surrounding Jackson through our 2013 acquisition of First M&F Corporation (First M&F). In total, we now have 121 banking, insurance, mortgage and wealth management locations throughout Tennessee, Alabama, Georgia and Mississippi with approximately $5.81 billion in total assets at December 31, 2014. RECORD EARNINGS C. MITCHELL WAYCASTER KEVIN D. CHAPMAN We achieved record earnings for 2014. These financial Senior Executive VP & Senior Executive VP Chief Administrative Officer & Chief Financial Officer results were driven by strong nonacquired loan growth and a continued focus on revenue growth while at the same time managing expenses. For 2014, we also Overall, our credit quality trends continue to improve. saw our return on assets move above 1%. Through We recorded a provision for loan losses of $6.2 million the successful execution of our long-term strategic for the year ending December 31, 2014, as compared initiatives, bolstered by the full-year impact of the to $10.4 million for the year ending December 31, 2013. operations added with the First M&F acquisition, net income for 2014 increased 78% to $59.6 million, as Excluding loans covered under loss-share compared to $33.5 million for 2013. agreements or acquired in the First M&F acquisition, 2 Completion of the transaction is subject to the approval of our shareholders and Heritage’s shareholders, as well as regulatory approval. Upon completion of the transaction, our company will have approximately $7.5 billion in total assets, $5.2 billion in gross loans and $6.1 billion in deposits with 171 banking, mortgage, insurance, wealth management and investment offices in Mississippi, Alabama, Tennessee, MICHAEL D. ROSS J. SCOTT COCHRAN Georgia and Florida. President, Eastern Region President, Western Region & Chief Commercial Officer The transaction will add approximately $1.9 billion in assets, $1.2 billion in loans, $1.3 billion in deposits and 48 banking, mortgage and investment offices in nonperforming loans, consisting of loans 90 days or Alabama, Georgia and Florida. more past due and nonaccrual loans, as a percentage of total loans, were 0.62% at December 31, 2014, The Heritage acquisition will solidify us as one of the as compared to 0.66% at December 31, 2013. Early- largest community banks operating in the Southeast stage delinquencies, or loans 30 to 89 days past due, with significant other business lines including as a percentage of total loans increased slightly to insurance, mortgage and wealth management. 0.32% at December 31, 2014, as compared to 0.31% Additionally, the merger will provide a stable source at December 31, 2013. of low-cost core deposits that are expected to support our future growth activities. Net charge-offs as a percentage of average loans for the year ending December 31, 2014, were 0.29%, as compared to 0.22% for 2013. Other real estate owned not covered under loss-share agreements or acquired in the First M&F acquisition was $17.1 million at December 31, 2014, as compared to $27.5 million at December 31, 2013. At December 31, 2014, our tangible common equity ratio was 7.52%, Tier 1 leverage capital ratio was 9.53%, Tier 1 risk-based capital ratio was 12.45% and total risk-based capital ratio was 13.54%. Our capital ratios were all in excess of regulatory minimums required to be classified as “well-capitalized.” In addition, during 2014, we maintained our annual dividend of $0.68, which, based on the year-end stock price, equated to a dividend yield of approximately 2.35%. M&A ACTIVITY On December 10, 2014, we announced the signing of a definitive merger agreement pursuant to which Renasant will acquire, in an all-stock merger, Heritage Financial Group, Inc. (Heritage), R. RICK HART a bank holding company headquartered in Albany, President, Northern Region Georgia, and the parent of HeritageBank of the South & Renasant Corporation Board Member (HeritageBank), a Georgia savings bank. 3 FOOTPRINT KEY RENASANT LOCATION HEADQUARTERS The transaction also enhances our presence in the metro Heritage is a community bank with a proven track record markets of Birmingham, Alabama and Atlanta, Georgia, of success in serving its clients and communities, and with minimal overlap while also providing entry into new we look forward to completing this acquisition, markets, such as Albany, Georgia, Statesboro, Georgia, hopefully during the third quarter of 2015. Auburn, Alabama, Ocala, Florida and Gainesville, Florida. As a part of our long-term strategy, we continue to seek O. Leonard Dorminey, president and chief executive partners that enhance our ability to enter new markets, officer of Heritage, will join us as an executive vice attract quality banking talent and grow our market share president of Renasant Corporation and will serve as the president of Renasant Bank’s Georgia region. LOOKING FORWARD He has been with HeritageBank since 2001 and has From beginning 2014 having just completed our served as president and CEO of Heritage since 2003. integration with First M&F to ending the year with our announcement of our proposed acquisition Under the proposed terms, the transaction of Heritage and posting our strongest earnings in is expected to be immediately accretive to our 110 year history, the past year was a success Renasant’s estimated EPS, with the estimated by all accounts.
Load more

Recommended publications
  • Bellevue Picnic On; New Location It Was Questionable at Commerce President, Sheri the Red Caboose Site at the the Picnic Will Begin at 10 School, As in Past Years
    REMEMBER TO VOTE FLOOD RELATED ANNOUNCEMENTS Covering News Primary Election Is Now May 18! Lost & Found Pets - See Page 20 From... Davidson County Cheatham County Williamson County Dickson County May 14 - 20, 2010 Vol. 34, No. 19 WestviewOnline.com Bellevue Picnic On; New Location It was questionable at Commerce president, Sheri the Red Caboose site at the The picnic will begin at 10 School, as in past years. times, but after the Bellevue Weiner stated, "Monday morn- church and the community cen- a.m. on May 15 and run until 10 Everyone has been working Chamber of Commerce discus- ing the Bellevue Church of ter dictated that we not add to p.m. There will be rides, food, hard, so come anytime during sions with the American Red Christ decided that they would the traffic issues there on business booths and entertain- the day and enjoy a little stress- Cross and mutliple Metro be unable to permit us to use Saturday. Inland Properties, ment all day, finishing up with free down time at the Bellevue departments, the Bellevue their parking lot the day of the owners of the Bellevue Center the fireworks at 9:30 p.m. Picnic. Picnic is still on for Saturday, picnic because of their efforts Mall, was kind enough to per- The fireworks will still go See more info on page 39. May 15, but not at Red Caboose with the Red Cross and other mit us to use the Mall property." off from the Bellevue Middle Park. The picnic will instead be agencies in helping the flood held in the fields at the Bellevue victims.
    [Show full text]
  • Historic Ink
    Historic Ink The Newsletter of Historic Nashville, Inc. Spring/Summer 2010, Vol. 33, No. 1 GREAT NASHVILLE FLOOD! work double time in order to keep Nashville with drinking water through the crisis. The overall devastation and extraordinary impacts of the Great Nashville Flood of 2010 are public More comprehensive coverage will be included in the knowledge so we will not repeat them here. However, next newsletter. For now, updates will be we do want to provide a summary of the impact of the continuously posted on our Facebook page and via flood to Nashville’s historic places. Our hearts go out our website and email. If you know of historic places to all the flood survivors and victims, particularly in Nashville that were impacted by flood damage that those who lost loved ones. We would like to thank the we have overlooked, please let us know. heroes who saved landmarks and lives as well as the army of volunteers who have made us proud. Remarkably, flood damage to historic places was minimal and less destructive than expected. A historic truss bridge spanning the South Harpeth River in west Nashville’s Linton community was washed out; the 1889 bridge had been decommissioned years ago. While damage assessments are ongoing, the following historic places were impacted by the flood. nd • 2 Avenue Historic District • Lower Broadway Historic District • Tanglewood Historic District, Madison • Belle Meade Mansion Downtown Nashville when the Cumberland River crested some 12-feet above flood stage. Courtesy the Tennessean. • Shelby Bottoms Park • Percy Warner Park • Riverfront Park Inside this Issue • Carnegie Library North Branch • Old Hickory Library From the Vice-President 2 • Eversong at Stone Hall, Hermitage From the Editor 3 2009 Nashville Nine Update 4 The historic riverside Omohundro Water Treatment Behind-the-Scenes Tours 5-6 Plant was unharmed due to the heroic efforts of Habitat’s Home of Healing 7 Sheriff Daron Hall and 400 county inmates, who New Board Members 8 bagged 500 tons of sand and stacked for 36 hours Membership 9 straight.
    [Show full text]
  • In the United States Bankruptcy Court Uptcy
    Dated: 06/23/11 IN TTHE UNI TTED STATES BAN KR UPTCY COURT FOR THE MI DDLE DISTRI CT OF TENNESSEE )) IN RE: )) )) SSH ER YL LLY NN P IGGGG, )) CCaasse N um beerr: 1 0--1 0116 8 DDeebbttoorr.. )) CChhaapptteer77 ) ) Hon. George C. Paine, IIII )) )) SSHHEERRYYLLL YYNNNPP IIGGGG )) PPllaaiinnttiiffff )) )) vv. )) AAddvveerrssaarry N um beerr: 1100--0000664422A )) BAC HOME LOANS )) SSEERRVVIICCIINNGG,LL PP )) )) BBAANNK OOF AAMMEERRIICCAA, NN..AA.. )) )) BELLE MANAGEMENT CORP.11 )) DDeeffeennddaannttss.. )) )) ______________ MEMORANDUM _______________ This matter is before the court on an adversary proceeding brought by Sheryl Lynn Pigg (“debtor”) against BAC Home Loans Servicing LP (“BAC”), Bank of America, N.A. (“BofA” collectively “the Bank”), and Belle Management 11 Sheryl Lynn Pigg and Belle Management have agreed that the Home Owners Association (“HOA”) is the appropriate party defendant in this adversary proceeding, rather than Belle Management Corporation, and have further agreed to file pleadings to substitute the Homeowners Association for Belle Management Corporation as the relevant party defendant. Those pleadings have not yet been filed with the court so the style of this case continues to include Belle Management Corporation until appropriate filings have been made. Case 3:10-ap-00642 Doc 33 Filed 06/24/11 Entered 06/24/11 13:18:07 Desc Main Document Page 1 of 15 Corp. (“BMC” and “HOA”) seeking “to Authorize Conveyance or Compel Foreclosure and Assumption of Obligation to Pay Homeowners Association.” More specifically, the debtor seeks some form of equitable relief to stop her homeowner association fees and assessments (“HOA fees”) from continuing to accrue even though she permanently evacuated her condominium after the May 1 and 2, 2010 Nashville Floods.
    [Show full text]
  • December 9, 2015 Chairman Tom Wheeler Federal Communications
    Paul H. McTcar, Jr. President & CEO December 9, 2015 Chairman Tom Wheeler Federal Communications Commission By Federal Express 445 Twelfth Street, S.W. Washington, D.C. 20554 Dear Chairman Wheeler: As you may know, in November I and several senior executives of Raycom Media, Inc. ("Raycom") met with your colleagues, Commissioner Clyburn, Commissioner Rosenworcel, Commissioner Pai, and Commissioner O'Rielly, along with members of each Commissioner's staff.1 The purpose of these meetings was to engage with the Commission on the ways in which Raycom serves its communities and to explain how the Commission's rules and policies relating to program exclusivity, retransmission consent, and local television ownership impact the ability of broadcasters like Raycom to provide that service, including through investments in high­ quality local news and other content. I greatly appreciated the opportunity to have these productive discussions with the Commissioners, particularly since several of the Commission's recent proposals in the broadcast area have the potential to hinder the important services that broadcasters uniquely provide to local communities. I was disappointed that, although we made several requests to your office to schedule a meeting with you and your staff, we did not receive any response. Nonetheless, I wanted to share with you a summary of the points we discussed with your colleagues. In each meeting, we described how Raycom, an employee-owned company, serves the public not only by producing about 1 ,300 hours of news per week across
    [Show full text]
  • September 7, 2017 Statement of Lyn Plantinga Vice President And
    September 7, 2017 Statement of Lyn Plantinga Vice President and General Manger NewsChannel 5 – Nashville, TN E.W. Scripps Company Hearing on “The Broadcast Incentive Auction: Update on Repacking Opportunities and Challenges” United States House of Representatives Committee on Energy and Commerce Subcommittee on Communications and Technology Introduction Good morning Chairmen Walden and Blackburn, Ranking Members Pallone and Doyle, and members of the Subcommittee. Thank you for inviting me here to testify today. My name is Lyn Plantinga and I am the General Manager of The NewsChannel 5 Network (WTVF) in Nashville, Tennessee, where I oversee the news, sales, and day-to-day operations of the station and its 149 employees. NewsChannel 5 is proud to be part of the E.W. Scripps Company (Scripps), and its 33 television stations across 24 markets nationwide. I am pleased to testify today on the preparations that NewsChannel 5 is undertaking to accomplish our part in the broadcast incentive auction repack. Our shared goal is a successful transition that enables NewsChannel 5 and all broadcasters to continue to serve Nashville and local communities across the country. However, we foresee significant financial challenges and the risk of viewer harm absent congressional action. NewsChannel 5: Dedicated to Serving our Community As the number-one rated station in Nashville, one of the top CBS-affiliated stations nationwide, and the winner of multiple Peabody Awards for excellence in journalism, NewsChannel 5 is dedicated to practicing the Scripps motto – “give light and the people will find their own way.” We carry out this mission by telling the stories of people who often do not have a voice, and ensuring accountability for the actions of the powerful.
    [Show full text]
  • Epoch 1,000 Year Rain Event Hits Nashville
    June 2010 Volume 2 Issue 6 Epoch 1,000 Year Rain Event hits Nashville Inside this issue: cluding the 975 square mile Old Hickory Lake Watershed, Nashville Flood of 2010 2 had rainfall totals of 15 to 18 The Full Story. inches. This would translate to Army Corps of Engineers 3 over 200 Billion gallons of wa- struggled with dams and ter entering the Cumberland forecasts. River from the Old Hickory Old Hickory Dam — a 4 Lake Watershed alone. Controlled Free-Flow. Water was so high behind the GAC Flood Relief 5 Old Hickory Dam that if had- Telethon at the Ryman n't been released, the dam may Auditorium have collapsed. There was a staggering amount of water Your Property Location — 6 An enormous volume of ber 13th and 14th 1979. A Why Elevation Matters. released into an already swol- water descended upon the new calendar day rainfall len river on the evening of Nashville area the first two record was set when 7.25 May 2 and in the first hour that days of May 2010. The re- inches of rain fell on May the dam was opened to its full- cord rainfall for that two 2nd. This also established a est extent, there were 5.4 bil- day period was more than new record for the most lion gallons of water released double the all time record rainfall for any calendar day into the Cumberland River, for any two day event. The in Nashville's history. cresting at 26 feet above its flooding that resulted was In addition to Nashville, normal level at Nashville, 25 described by the U.S.
    [Show full text]
  • United States District Court Middle District of Tennessee Northeastern Division
    UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF TENNESSEE NORTHEASTERN DIVISION OMEGA APPAREL INCORPORATED, ) ) Plaintiff, ) ) v. ) No. 2:11-0031 ) Judge Sharp ABF FREIGHT SYSTEM, INC., ) ) Defendant. ) MEMORANDUM This is an action under the Carmack Amendment to the Interstate Commerce Act, 49 U.S.C. § 11706, seeking to recover damages for shipped goods ruined during the May 2010 floods in Nashville, Tennessee. Defendant ABF Freight System, Inc. (“ABF”) has filed a Motion for Summary Judgment (Docket No. 29), to which Plaintiff Omega Apparel Incorporated (“Omega”) has filed a response in opposition (Docket No. 32), and ABF has replied (Docket No. 36). For the following reasons, the motion will be denied. I. FACTUAL SUMMARY To place the parties’ arguments in context, the facts underlying this case need only be recounted briefly. Construed in Omega’s favor, those facts are as follows: Pursuant to a Straight Bill of Lading, ABF agreed to deliver a shipment consisting of 15,478 yards of Cloth Wool, Serge, Army Green fabric to Omega. The fabric was on 167 rolls, with a total value in excess of $200,000. On April 28, 2010, the fabric, which had been staged at a facility in Lansing, Michigan, was loaded into an ABF trailer. At the time ABF took possession of the fabric, it was in good condition. 1 Case 2:11-cv-00031 Document 37 Filed 07/10/12 Page 1 of 11 PageID #: <pageID> The trailer containing the fabric arrived at ABF’s Nashville facility on April 29, 2010. On the evening of May 2, 2010, ABF’s property flooded after several days of persistent rain.
    [Show full text]
  • Hazardous Lending: the Impact of Natural Disasters on Banks' Asset
    Hazardous Lending: The Impact of Natural Disasters on Banks'Asset Portfolio Citation for published version (APA): Bos, J., Li, R., & Sanders, M. (2018). Hazardous Lending: The Impact of Natural Disasters on Banks'Asset Portfolio. Maastricht University, Graduate School of Business and Economics. GSBE Research Memoranda No. 021 https://doi.org/10.26481/umagsb.2018021 Document status and date: Published: 27/08/2018 DOI: 10.26481/umagsb.2018021 Document Version: Publisher's PDF, also known as Version of record Please check the document version of this publication: • A submitted manuscript is the version of the article upon submission and before peer-review. There can be important differences between the submitted version and the official published version of record. People interested in the research are advised to contact the author for the final version of the publication, or visit the DOI to the publisher's website. • The final author version and the galley proof are versions of the publication after peer review. • The final published version features the final layout of the paper including the volume, issue and page numbers. Link to publication General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal.
    [Show full text]
  • Coaching Staff Lee Taylor Walker
    introduction/media about the U of m Location: .......................... Memphis, Tenn. Enrollment: .................................... 21,424 Founded: ........................................... 1912 Nickname:........................................ Tigers Conference: ................... Conference USA President: ..................... Dr. Shirley Raines Phone: ........................901-678-2234 Athletic Director: .................. R.C. Johnson Phone: ........................901-678-2335 SWA: ..................................... Lynn Parkes Phone: ........................901-678-2315 Director of Athletic Media Relations ...:...... ............................Jennifer Rodrigues Table media Outlets Phone: ........................901-678-2337 of Contents Tennis SID: ...........................Shawn Smith PRINT Phone: ........................901-678-5294 Media ............................................................1-2 The Commercial Appeal-Phil Stukenborg Fax:.............................901-678-4134 495 Union Ave., Memphis, TN 38103 Cell Phone: .................319-431-2545 E-mail: [email protected] MEN’S TENNIS Phone: 901-529-2360, FAX: 901-529-2362 Roster .............................................................. 4 Director of Academic Services:.................. Schedule.......................................................... 5 .................................. Dr. Joe Luckey Associated Press 2010 Season Preview ..................................... 6 Phone: ........................901-678-2714 Opponents ....................................................7-9
    [Show full text]
  • Global Warming and Extreme Weather
    Global Warming and Extreme Weather HurricanesThe Science, the Forecast, Snowstormsand the Impacts on America Tropical Storms Drought Wildfire Coastal Storms Flooding Heat Waves Extreme Rainfall Wildfire Hurricanes Snowstorms Fire Drought Hurricanes Global Warming and Extreme Weather The Science, the Forecast, and the Impacts on America Environment Maryland Research & Policy Center Tony Dutzik, Frontier Group Nathan Willcox, Environment America Research & Policy Center September 2010 Acknowledgments Environment Maryland Research & Policy Center thanks Kevin Trenberth, head of the Climate Analysis Section at the National Center for Atmospheric Research; Amanda Staudt, climate scientist with the National Wildlife Federation; Paul Epstein, associate director of the Center for Health and the Global Environment at Harvard Medical School; and Brenda Ekwurzel, assistant director of climate research and analysis for the Climate and Energy Program of the Union of Concerned Scientists for their review of drafts of this document, as well as their insights and suggestions. Thanks also to Clair Embry and Kurt Walters for their research assistance and Susan Rakov and Travis Madsen of Frontier Group for their editorial assistance. The authors express sincere gratitude to the many scientists and researchers working to help society understand the causes and likely impacts of global warming. Environment Maryland Research & Policy Center thanks the Energy Foundation, the Oak Foun- dation and New York Community Trust for making this report possible. The authors bear responsibility for any factual errors. The recommendations are those of Envi- ronment Maryland Research & Policy Center. The views expressed in this report are those of the authors and do not necessarily reflect the views of our funders or those who provided review.
    [Show full text]
  • When It Rains, It Pours
    When It Rains, It Pours Global Warming and the Increase in Extreme Precipitation from 1948 to 2011 When It Rains, It Pours Global Warming and the Increase in Extreme Precipitation from 1948 to 2011 Environment Massachusetts Research & Policy Center Travis Madsen, Frontier Group Nathan Willcox, Environment America Research & Policy Center Summer 2012 Acknowledgments The authors thank David Easterling, Chief of the Global Climate Applications Division at the National Climatic Data Center; Kim Knowlton, Senior Scientist at the Natural Re- sources Defense Council; and Brenda Ekwurzel, Assistant Director of Climate Research and Analysis at the Union of Concerned Scientists for their review and insightful feedback on drafts of this report. Allison Gruber, Environment America intern, assisted with research, and Tony Dutzik at Frontier Group provided editorial support. Environment Massachusetts Research & Policy Center is grateful to the Energy Foundation, the John Merck Fund, the New York Community Trust, the Arntz Family Foundation, the Michael Lee Foundation and the Scherman Foundation for making this report possible. The authors bear responsibility for any factual errors. The views expressed in this report are those of the authors and do not necessarily reflect the views of our funders or expert reviewers. © 2012 Environment Massachusetts Research & Policy Center Environment Massachusetts Research & Policy Center is a 501(c)(3) organization. We are dedicated to protecting Massachusetts’ air, water and open spaces. We investigate prob- lems, craft solutions, educate the public and decision-makers, and help Bay Staters make their voices heard in local, state and national debates over the quality of our environment and our lives. For more information about Environment Massachusetts Research & Policy Center or for additional copies of this report, please visit www.environmentmassachusetts center.org.
    [Show full text]
  • Climate Nexus Climate Signals.Pdf
    CLIMATE SIGNALS E X T R E M E W E A T H E R G U I D E Climate Signals A Guide to Selected Extreme Weather and Climate Change For informaon contact: Hunter Cung Climate Nexus +1 415-420-7498 [email protected] This work is licensed under the Creave Commons AOribu:on-NoDerivs 3.0 Unported License. New York, NY 2012 Table of Contents Overview . 4 Heat Waves . 7 Drought . 12 Rain and Snow . 18 Flooding . 23 Tornadoes . 28 Hurricanes . 33 References . 36 Climate Change and Extreme Weather Overview Climate change is already affec:ng extreme weather. The Naonal Academy of Sciences reports that rain has become concentrated in heavier downpours and the hoOest days are now hoer.1 And the fingerprint of global warming behind these changes has been firmly iden:fied.2 Photo credit: Monika Sharma In the strictest sense all weather events are now affected by climate change because the environment in which they occur (the atmosphere) is significantly warmer and weOer than it used to be.3 The Naonal Oceanic and Atmospheric Administraon (NOAA) reports an increase in billion- dollar weather disasters across the U.S. in recent years with an astonishing 14 weather disasters totaling over $50 billion in damages occurring in 2011 alone. Four out of five Americans live in coun:es where natural disasters have been declared since 2006.4 The insurance giant Munich RE reports that the number of weather catastrophes across the world has tripled since 1980 and that climate change is helping to drive this trend.5 4 While natural variability con:nues to play a key role in extreme weather, climate change has shiced the odds and changed the natural limits, making certain types of extreme weather much more frequent and more intense.
    [Show full text]