GreenStone Farm Credit Services released its second quarter stockholder report, detailing earnings of $33.4 million for the three months ended June 30, 2017, showing an 19 percent increase over the second quarter of 2016.
Second Quarter Stockholder Report Shows Continued Strength
GreenStone Farm Credit Services released its second quarter stockholder report, detailing earnings of $33.4 million for the three months ended June 30, 2017, showing an 19 percent increase over the second quarter of 2016. Year-to-date earnings for the first half of the year are $71.4 million, a 15 percent increase over the same period in 2016. These earnings are driven by owned and managed loan volume totaling $8.1 billion at the close of June.
“The diversity of GreenStone’s member base continues to be a key factor in the financial strength of the organization,” says Travis Jones, GreenStone’s chief financial officer. “While many of our members continue to be challenged by low commodity prices, other members have been able to expand their operations. This has allowed GreenStone to grow its total loan balance nearly 6 percent over the last 12 months. At the same time, all our members are working hard every day to meet their financial obligations and allowing our association to maintain solid credit quality.”
Other indicators to note from this quarter’s stockholder report include:
Operating expenses remained well-controlled as our efficiency ratio improved to 34.9 percent
Acceptable loan credit was 94.6 percent
Total member equity exceeds $1.5 billion
The complete second quarter stockholder report can be viewed online by visiting: http://bit.ly/1xa3y2D
Second Quarter Stockholder Report Shows Continued Strength
GreenStone Farm Credit Services released its second quarter stockholder report, detailing earnings of $33.4 million for the three months ended June 30, 2017, showing an 19 percent increase over the second quarter of 2016. Year-to-date earnings for the first half of the year are $71.4 million, a 15 percent increase over the same period in 2016. These earnings are driven by owned and managed loan volume totaling $8.1 billion at the close of June.
“The diversity of GreenStone’s member base continues to be a key factor in the financial strength of the organization,” says Travis Jones, GreenStone’s chief financial officer. “While many of our members continue to be challenged by low commodity prices, other members have been able to expand their operations. This has allowed GreenStone to grow its total loan balance nearly 6 percent over the last 12 months. At the same time, all our members are working hard every day to meet their financial obligations and allowing our association to maintain solid credit quality.”
Other indicators to note from this quarter’s stockholder report include:
Operating expenses remained well-controlled as our efficiency ratio improved to 34.9 percent
Acceptable loan credit was 94.6 percent
Total member equity exceeds $1.5 billion
The complete second quarter stockholder report can be viewed online by visiting: http://bit.ly/1xa3y2D
