Premises and Equipment, Net

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Premises and Equipment, Net

Note 7 – Premises and Equipment, Net

At December 31, 2018 and 2017, premises and equipment consisted of the following ($ in thousands):

	December 31,
	2018		2017
Land	$	52,779	$	52,335
Buildings and leasehold improvements		202,912		197,372
Furniture and equipment		169,652		166,071
Total cost of premises and equipment		425,343		415,778
Less accumulated depreciation and amortization		247,160		237,425
Premises and equipment, net		178,183		178,353
Assets held for sale		485		986
Total premises and equipment, net	$	178,668	$	179,339

Assets held for sale consisted of three closed branches at December 31, 2018 and 2017.  These properties were transferred from premises and equipment, net 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 $173 thousand, $338 thousand and $750 thousand were recognized and included in other expense for 2018, 2017 and 2016, respectively.

Depreciation and amortization of premises and equipment totaled $14.3 million in both 2018 and 2017 and $13.2 million in 2016.