Premises and Equipment, Net

12 Months Ended

Dec. 31, 2016

Property Plant And Equipment [Abstract]

Note 7 – Premises and Equipment, Net

At December 31, 2016 and 2015, premises and equipment consisted of the following ($ in thousands):

	December 31,
	2016		2015
Land	$	51,097	$	57,334
Buildings and leasehold improvements		195,296		200,475
Furniture and equipment		172,170		168,357
Total cost of premises and equipment		418,563		426,166
Less accumulated depreciation and amortization		239,319		230,510
Premises and equipment, net		179,244		195,656
Assets held for sale		5,743		—
Total premises and equipment, net	$	184,987	$	195,656

As of December 31, 2016, assets held for sale consisted of five closed branches and two parcels of land previously purchased for expansion. These properties were transferred from land and premises to assets held for sale due to Trustmark’s intent to sell these properties over the next twelve months as a result of its strategic branch initiatives. As a result, property valuation adjustments of $750 thousand were recognized and included in other expense for 2016 with no property valuation adjustments recognized in 2015 or 2014.

Depreciation and amortization of premises and equipment totaled $13.2 million in 2016, $14.0 million in 2015 and $14.1 million in 2014.