So something I've been working on is trying to increase my banner CTR.
One way Im guessing is to shrink the file size so it loads faster.
Is this something you guys do, and have you noticed any noticeable results in banner performance?
I was thinking about using https://kraken.io (saw it recommended here in another thread) to compress my GIF banners.
Any insights would be appreciated 
I don't care about this almost anymore. Obviously, I try to use reasonably sized banners, so no 2 MB monsters
The only time I'm actually paying attention to the size, is when I'm targeting carrier traffic in less developed GEOs.
You might also wanna try out http://optimizilla.com/ for compression of standard banners.
I've actually stopped doing this after hiring a designer who did a great job of quality vs performance. He knows how to use Photoshop to export small size banners while also maintaining quality so now I just use it the way he delivers it 
If you are a noob like me when it comes to banner creation, you will likely use many sub-optimal assets when creating your banners which will make it pretty bad for you to export nicely.
I did some testing on this a while ago, and came up with some very weird results. 24-bit PNGs actually outperformed highly optimised banners!
As a result, I tend not to worry about this too much these days beyond a basic pass in the Save For Web dialog in Photoshop. If anything, it can be worth testing less-compressed formats (like 24-bit png) to see if the device your users are viewing them on renders them more clearly, and thus boosts conversions that way.