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Other Real Estate
 12 Months Ended
Dec. 31, 2023
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate

Note 8 – Other Real Estate

At December 31, 2023, Trustmark’s geographic other real estate distribution was primarily concentrated in its Alabama, Mississippi and Texas market regions. 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):

 

 

 

Years Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

1,986

 

 

$

4,557

 

 

$

11,651

 

Additions

 

 

7,237

 

 

 

1,533

 

 

 

770

 

Disposals

 

 

(2,555

)

 

 

(4,142

)

 

 

(6,932

)

(Write-downs) recoveries

 

 

199

 

 

 

38

 

 

 

(932

)

Balance at end of period

 

$

6,867

 

 

$

1,986

 

 

$

4,557

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(145

)

 

$

(1,006

)

 

$

(1,869

)

 

At December 31, 2023 and 2022, other real estate by type of property consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

1-4 family residential properties

 

$

1,977

 

 

$

1,128

 

Nonfarm, nonresidential properties

 

 

4,835

 

 

 

561

 

Other real estate properties

 

 

55

 

 

 

297

 

Total other real estate

 

$

6,867

 

 

$

1,986

 

 

At December 31, 2023 and 2022, other real estate by geographic location consisted of the following ($ in thousands):

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

Alabama

 

$

1,397

 

 

$

194

 

Mississippi (1)

 

 

1,242

 

 

 

1,769

 

Tennessee (2)

 

 

—

 

 

 

23

 

Texas

 

 

4,228

 

 

 

—

 

Total other real estate

 

$

6,867

 

 

$

1,986

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

At December 31, 2023 and 2022, the balance of other real estate included $2.0 million and $1.1 million, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2023 and 2022, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $6.4 million and $2.9 million, respectively.