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Other Real Estate
 9 Months Ended
Sep. 30, 2022
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate

Note 5 – Other Real Estate

At September 30, 2022, Trustmark’s geographic other real estate distribution was primarily 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 this area.

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

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

4,557

 

 

$

11,651

 

Additions

 

 

1,430

 

 

 

770

 

Disposals

 

 

(2,503

)

 

 

(4,326

)

(Write-downs) recoveries

 

 

(513

)

 

 

(1,882

)

Balance at end of period

 

$

2,971

 

 

$

6,213

 

 

 

 

 

 

 

 

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

 

$

(465

)

 

$

(716

)

 

At September 30, 2022 and December 31, 2021, other real estate by type of property consisted of the following ($ in thousands):

 

 

September 30, 2022

 

 

December 31, 2021

 

1-4 family residential properties

 

$

1,161

 

 

$

94

 

Nonfarm, nonresidential properties

 

 

1,513

 

 

 

4,463

 

Other real estate properties

 

 

297

 

 

 

—

 

Total other real estate

 

$

2,971

 

 

$

4,557

 

 

At September 30, 2022 and December 31, 2021, other real estate by geographic location consisted of the following ($ in thousands):

 

 

September 30, 2022

 

 

December 31, 2021

 

Alabama

 

$

217

 

 

$

—

 

Mississippi (1)

 

 

2,754

 

 

 

4,557

 

Total other real estate

 

$

2,971

 

 

$

4,557

 
(1)
Mississippi includes Central and Southern Mississippi Regions.

At September 30, 2022, the balance of other real estate included $1.2 million of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property compared to $94 thousand at December 31, 2021. At September 30, 2022 and December 31, 2021, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $1.8 million and $1.2 million, respectively.