Question · Q1 2015
Steve Hale of Hale Partnership questioned the year-over-year improvement in operating loss, asking if there was a non-interest benefit from the life insurance policy loan paydown and requested a quantification of this impact.
Answer
PFO Anita Wimmer acknowledged that some benefit from the cash surrender value is recognized above the interest line, but stated the majority of the savings is from lower interest expense. She did not provide a specific figure during the call but offered to follow up with the information.