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Other Real Estate
 3 Months Ended
Mar. 31, 2024
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
Other Real Estate

Note 5 – Other Real Estate

At March 31, 2024, 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):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

6,867

 

 

$

1,986

 

Additions

 

 

2,228

 

 

 

300

 

Disposals

 

 

(957

)

 

 

(542

)

(Write-downs) recoveries

 

 

(518

)

 

 

(60

)

Balance at end of period

 

$

7,620

 

 

$

1,684

 

 

 

 

 

 

 

 

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

 

$

(55

)

 

$

(77

)

 

At March 31, 2024 and December 31, 2023, other real estate by type of property consisted of the following ($ in thousands):

 

 

March 31, 2024

 

 

December 31, 2023

 

1-4 family residential properties

 

$

3,619

 

 

$

1,977

 

Nonfarm, nonresidential properties

 

 

3,946

 

 

 

4,835

 

Other real estate properties

 

 

55

 

 

 

55

 

Total other real estate

 

$

7,620

 

 

$

6,867

 

 

At March 31, 2024 and December 31, 2023, other real estate by geographic location consisted of the following ($ in thousands):

 

 

March 31, 2024

 

 

December 31, 2023

 

Alabama

 

$

1,050

 

 

$

1,397

 

Florida

 

 

71

 

 

 

—

 

Mississippi (1)

 

 

2,870

 

 

 

1,242

 

Tennessee (2)

 

 

86

 

 

 

—

 

Texas

 

 

3,543

 

 

 

4,228

 

Total other real estate

 

$

7,620

 

 

$

6,867

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

At March 31, 2024, the balance of other real estate included $3.6 million of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property compared to $2.0 million at December 31, 2023. At March 31, 2024 and December 31, 2023, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $9.8 million and $6.4 million, respectively.