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The reduction in running, non-interest cost ended up being mainly as a result of the recognition of around $16.4 million loss on financial obligation extinguishment into the 3rd quarter, caused by the payment of around $140 million in Federal mortgage Bank advances therefore the termination of associated income hedges.

The reduction in running, non-interest cost ended up being mainly as a result of the recognition of around $16.4 million loss on financial obligation extinguishment into the 3rd quarter, caused by the payment of around $140 million in Federal mortgage Bank advances therefore the termination of associated income hedges.

Salaries and benefits declined by $2.5 million, mainly due to lessen compensation that is incentive, and greater deferred costs related to new loan originations. This decreases were partially offset by increases in advertising cost of approximately $1.1 million as a result of increases in direct mail and sponsorships, expert costs of $955,000 pertaining to greater consulting prices for strategic initiatives, FDIC costs of $873,000 mainly because of a lesser FDIC little bank evaluation credit made when you look at the 4th quarter and OREO and credit-related expense of around $542,000 as a result of OREO valuation changes driven by updated appraisals received through the quarter. Читать далее The reduction in running, non-interest cost ended up being mainly as a result of the recognition of around $16.4 million loss on financial obligation extinguishment into the 3rd quarter, caused by the payment of around $140 million in Federal mortgage Bank advances therefore the termination of associated income hedges.