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Other Real Estate
 12 Months Ended
Dec. 31, 2021
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate

Note 9 – Other Real Estate

At December 31, 2021, Trustmark’s geographic other real estate distribution was concentrated in its Mississippi market region. The ultimate recovery of a substantial portion of the carrying amount of other real estate is susceptible to changes in market conditions in these areas.

For the periods presented, changes and gains (losses), net on other real estate were as follows ($ in thousands):

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Balance at beginning of period

 

$

11,651

 

 

$

29,248

 

 

$

34,668

 

Additions

 

 

770

 

 

 

635

 

 

 

8,598

 

Disposals

 

 

(6,932

)

 

 

(16,446

)

 

 

(11,474

)

Write-downs

 

 

(932

)

 

 

(1,786

)

 

 

(2,544

)

Balance at end of period

 

$

4,557

 

 

$

11,651

 

 

$

29,248

 

 

 

 

 

 

 

 

 

 

 

Gains (losses), net on the sale of other real estate
   included in other real estate expense

 

$

(1,869

)

 

$

897

 

 

$

(291

)

 

At December 31, 2021 and 2020, other real estate by type of property consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Construction, land development and other land properties

 

$

—

 

 

$

3,857

 

1-4 family residential properties

 

 

94

 

 

 

1,349

 

Nonfarm, nonresidential properties

 

 

4,463

 

 

 

6,445

 

Total other real estate

 

$

4,557

 

 

$

11,651

 

 

At December 31, 2021 and 2020, other real estate by geographic location consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Alabama

 

$

—

 

 

$

3,271

 

Mississippi (1)

 

 

4,557

 

 

 

8,330

 

Tennessee (2)

 

 

—

 

 

 

50

 

Total other real estate

 

$

4,557

 

 

$

11,651

 
(1)
Mississippi includes Central and Southern Mississippi Regions.
(2)
Tennessee includes Memphis, Tennessee and Northern Mississippi Regions.

At December 31, 2021 and 2020, the balance of other real estate included $94 thousand and $1.3 million, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2021 and 2020, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $1.2 million and $424 thousand, respectively.