Other Real Estate

12 Months Ended

Dec. 31, 2022

Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]

Other Real Estate

Note 8 – Other Real Estate

At December 31, 2022, Trustmark’s geographic other real estate distribution was primarily concentrated in its Mississippi market region. 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):

	Years Ended December 31,
	2022			2021			2020
Balance at beginning of period	$	4,557		$	11,651		$	29,248
Additions		1,533			770			635
Disposals		(4,142	)		(6,932	)		(16,446	)
(Write-downs) recoveries		38			(932	)		(1,786	)
Balance at end of period	$	1,986		$	4,557		$	11,651
Gains (losses), net on the sale of other real estate    included in other real estate expense	$	(1,006	)	$	(1,869	)	$	897

At December 31, 2022 and 2021, other real estate by type of property consisted of the following ($ in thousands):

	December 31,
	2022		2021
1-4 family residential properties	$	1,128	$	94
Nonfarm, nonresidential properties		561		4,463
Other real estate properties		297		—
Total other real estate	$	1,986	$	4,557

At December 31, 2022 and 2021, other real estate by geographic location consisted of the following ($ in thousands):

	December 31,
	2022		2021
Alabama	$	194	$	—
Mississippi (1)		1,769		4,557
Tennessee (2)		23		—
Total other real estate	$	1,986	$	4,557

(1)Mississippi includes Central and Southern Mississippi Regions.

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

At December 31, 2022 and 2021, the balance of other real estate included $1.1 million and $94 thousand, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2022 and 2021, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $2.9 million and $1.2 million, respectively.