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GreenStone Posts Record Earnings in Third Quarter
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GreenStone achieved outstanding financial results for the third quarter of 2014.​

GreenStone Posts Record Earnings in Third Quarter

GreenStone Farm Credit Services released its quarterly stockholder report, setting a record for year-to-date income. Net income for the nine months ended Sept. 30, 2014 increased 5.3 percent compared to the same time period last year.

“GreenStone achieved outstanding financial results again this quarter to the credit of our customers and team members,” said GreenStone President and CEO Dave Armstrong. “Falling commodity prices will continue to put pressure on a number of our customers, but we feel the majority of our customers have the financial strength to work with us to withstand the declining revenue expected in 2014 and 2015.”

Notable results from this quarter’s stockholder report include:

  • Owned and managed total loan volume was $6.6 billion at Sept. 30, a 3.7 percent increase from Sept. 30, 2013.
  • Net interest income increased 2.8 percent year-to-date compared to the same period in 2013.
  • Credit quality matches historical highs with 97.4 percent of loan volume considered acceptable.
“We continue to grow our portfolio and maintain strong profitability in the face of increasing competition,” said chief financial officer Travis Jones. “At the same time, this competitive marketplace and low interest rate environment has been very beneficial to our customers in the form of lower payments.”