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GreenStone Posts Record Earnings During Second Quarter
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The association’s quarterly stockholder report, released this week, shows record second quarter earnings of more than $37.3 million in the second quarter of 2012, a 32 percent increase over the same period in 2011.



GreenStone Posts Record Earnings During Second Quarter; Invests More Than $184,000 in Local Communities to Date


GreenStone Farm Credit Services, the sixth largest association in the Farm Credit System, continues to experience unprecedented success. The association’s quarterly stockholder report, released this week, shows record second quarter earnings of more than $37.3 million in the second quarter of 2012, a 32 percent increase over the same period in 2011.

The cooperative’s earnings for the first six months of 2012 total a record $71 million, a 33 percent increase over the same period in 2011. These results were driven by improved credit quality and a reduction in the cooperative’s provision for loan losses.

“GreenStone continues to experience unprecedented success in 2012,” said GreenStone President and CEO, Dave Armstrong. “Our cooperative offers our members competitive rates on products and services to help their operations flourish as well as exceptional customer service, making GreenStone the top choice for those looking for financing or financial services.”

Other numbers of note in the 2012 second quarter stockholder report include:

  • Loan volume increase of 5.6 percent over June 30, 2011; GreenStone’s owned loan volume now totals $5.3 billion.
  • Increase in permanent capital ratio to 15 percent
  • GreenStone’s total equity now exceeds $1 billion

“Producers in Michigan and Wisconsin are some of the hardest working in the country, and their success continues to help make GreenStone a strong cooperative lender,” added Armstrong. “The economic impact our members have on their communities is tremendous, making agriculture a vital industry in each of these states.”

In addition to posting record earnings through the first six months of 2012, GreenStone also invested more than $184,000 in the communities it serves. Dollars were allocated to a variety of different community groups, young, beginning and small farmer initiatives, youth programs, and multi-cultural organizations, and supported a wide range of causes that are important to GreenStone’s members. GreenStone staff members have also been active in their communities, donating more than 1,300 hours of volunteer time during 2012.

The complete second quarter stockholder report can be viewed here.

About GreenStone Farm Credit Services
GreenStone Farm Credit Services, based in East Lansing, Michigan, is Michigan and northeast Wisconsin’s largest agricultural lender and the country’s sixth largest association in the Farm Credit System. A member-owned cooperative, GreenStone owns and manages approximately $6.1 billion in assets and serves more than 22,000 members with 37 branch locations in Michigan and northeast Wisconsin. More information on GreenStone can be found at www.greenstonefcs.com.