GreenStone's 2017 Annual Report highlights record-level earnings powered by internal efficiencies and a diverse loan portfolio.
GreenStone Annual Report Shows Strong Financial Performance in 2017
GreenStone Farm Credit Services has released its 2017 Annual Report. The report highlights the record-level earnings the association experienced in 2017, powered by internal efficiencies and a diverse loan portfolio.
“The ongoing weak agricultural economy continues to challenge everyone involved in the agriculture industry, requiring tough decisions and a sharp focus on long-term business goals. At GreenStone, we too are challenged with keeping the discipline to stay true to our mission and adhering to our long-term goals and objectives. By doing so, and working together with our members, we were able to post a solid financial performance again this year,” says Dave Armstrong, former GreenStone CEO and president.
Based on the 2017 earnings, the GreenStone board of directors announced a record patronage payment of $50 million to members distributed in March. This year’s payment brings the total patronage paid to our member-owners to $318 million since the program’s inception in 2005.
Other financial highlights in this year’s report include:
• Net Income: $151.7 million
• Total Assets: $8.5 billion
• Total Loan Growth: 4.7 percent
• Patronage Paid: $50 million
“The strong financial position outlined in the report is an indication of the importance of having a financial partner with a stable balance sheet, allowing us some flexibility when working with our members through difficult times,” Armstrong says.
The report can be viewed and downloaded on the association’s website, www.greenstonefcs.com.
GreenStone Annual Report Shows Strong Financial Performance in 2017
GreenStone Farm Credit Services has released its 2017 Annual Report. The report highlights the record-level earnings the association experienced in 2017, powered by internal efficiencies and a diverse loan portfolio.
“The ongoing weak agricultural economy continues to challenge everyone involved in the agriculture industry, requiring tough decisions and a sharp focus on long-term business goals. At GreenStone, we too are challenged with keeping the discipline to stay true to our mission and adhering to our long-term goals and objectives. By doing so, and working together with our members, we were able to post a solid financial performance again this year,” says Dave Armstrong, former GreenStone CEO and president.
Based on the 2017 earnings, the GreenStone board of directors announced a record patronage payment of $50 million to members distributed in March. This year’s payment brings the total patronage paid to our member-owners to $318 million since the program’s inception in 2005.
Other financial highlights in this year’s report include:
• Net Income: $151.7 million
• Total Assets: $8.5 billion
• Total Loan Growth: 4.7 percent
• Patronage Paid: $50 million
“The strong financial position outlined in the report is an indication of the importance of having a financial partner with a stable balance sheet, allowing us some flexibility when working with our members through difficult times,” Armstrong says.
The report can be viewed and downloaded on the association’s website, www.greenstonefcs.com.
