Other Real Estate

3 Months Ended

Mar. 31, 2021

Other Real Estate And Foreclosed Assets [Abstract]

Note 5 – Other Real Estate

At March 31, 2021, Trustmark’s geographic other real estate distribution was concentrated primarily in its five key market regions: Alabama, Florida, Mississippi, Tennessee and Texas. The ultimate recovery of a substantial portion of the carrying amount of other real estate is susceptible to changes in market conditions in these areas.

For the periods presented, changes and gains (losses), net on other real estate were as follows ($ in thousands):

	Three Months Ended March 31,
	2021			2020
Balance at beginning of period	$	11,651		$	29,248
Additions		—			336
Disposals		(850	)		(3,741	)
Write-downs		(150	)		(996	)
Balance at end of period	$	10,651		$	24,847

Gains (losses), net on the sale of other real estate included in other real estate expense	$	59		$	(70	)

At March 31, 2021 and December 31, 2020, other real estate by type of property consisted of the following ($ in thousands):

	March 31, 2021		December 31, 2020
Construction, land development and other land properties	$	3,624	$	3,857
1-4 family residential properties		1,334		1,349
Nonfarm, nonresidential properties		5,693		6,445
Total other real estate	$	10,651	$	11,651

At March 31, 2021 and December 31, 2020, other real estate by geographic location consisted of the following ($ in thousands):

	March 31, 2021		December 31, 2020
Alabama	$	3,085	$	3,271
Mississippi (1)		7,566		8,330
Tennessee (2)		—		50
Total other real estate	$	10,651	$	11,651

(1)	Mississippi includes Central and Southern Mississippi Regions.

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

At both March 31, 2021 and December 31, 2020, the balance of other real estate included $1.3 million of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At March 31, 2021 and December 31, 2020, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $710 thousand and $424 thousand, respectively.