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Greenstone Reports Second Quarter Earnings
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GreenStone recently released the second quarter stockholder report for 2015.

 

Greenstone Reports Earnings of $29.1 Million in Second Quarter Of 2015

GreenStone Farm Credit Services recently released its second quarter stockholder report, detailing earnings of $29.1 million in the second quarter and $65.9 million for the six months ended June 30, 2015. Owned and managed loan volume totaled $7.0 billion at June 30, 2015.

“Our earnings for the first half of this year remain solid,” said Travis Jones, GreenStone chief financial officer. “While lower commodity prices have impacted a number of our customers, we believe the majority of our members are well-positioned to manage these market changes.”

“Our purpose is to support rural and agricultural communities in Michigan and northeast Wisconsin,” said Dave Armstrong, GreenStone President and CEO. “As the industry continues to grow and change, GreenStone will remain a dependable and responsible source of credit for our borrowers regardless of market or industry fluctuations.”

Other numbers of note from this quarter’s stockholder report include:

  • Net interest income increased 3.9 percent for the first six months of 2015 as compared to the same period in 2014
  • Loan growth from June 30, 2014 was 8.2 percent
  • Total members’ equity increased $51.0 million from Dec. 31, 2014 to $1.3 billion