Premises and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Premises and Equipment, Net

Note 7 – Premises and Equipment, Net

At December 31, 2019 and 2018, premises and equipment, net consisted of the following ($ in thousands):

	December 31,
	2019		2018
Land	$	52,454	$	52,779
Buildings and leasehold improvements		210,362		202,912
Furniture and equipment		174,257		169,652
Total cost of premises and equipment		437,073		425,343
Less accumulated depreciation and amortization		256,608		247,160
Premises and equipment, net		180,465		178,183
Financing lease right-of-use assets		9,326		—
Assets held for sale		—		485
Total premises and equipment, net	$	189,791	$	178,668

At December 31, 2019, there were no closed branches in assets held for sale compared to three closed branches at December 31, 2018.  These properties were transferred from premises and equipment, net to assets held for sale while Trustmark sold these properties as a result of its strategic branch initiatives.  As a result, there were no property valuation adjustments for 2019 compared to $173 thousand and $338 thousand recognized and included in other expense for 2018 and 2017, respectively.

Depreciation and amortization of premises and equipment totaled $15.7 million in 2019 and $14.3 million in both 2018 and 2017.