Banner Corporation (NASDAQ:BANR) Q1 2018 Earnings Conference Call - Preliminary Transcript
Apr 24, 2018 • 11:00 am ET
expenses increased $2 million due to higher benefits and payroll tax expenses, merit increases and modest growth in FTE, primarily due to a slowdown in staff turnover. Advertising and marketing expense decreased $1.6 million due to lower spend on campaigns, promotions and direct mail relative to the fourth quarter, which is typically the highest quarter for the year. Real estate operations expense increased $1.4 million due to gains on sale of REO taken in the fourth quarter.
This concludes my prepared remarks. Mark?
Thank you, Rick, Lloyd and Peter for your comments. That concludes our prepared remarks. And Rachelle will now open the call and welcome your questions.